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Securities (Tables)
 3 Months Ended
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Securities Available-for-Sale
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
40,938

 
$
47

 
$
(93
)
 
$
40,892

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
129,486

 
93

 
(1,258
)
 
128,321

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,365,007

 
6,107

 
(14,084
)
 
1,357,030

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
491,689

 
1,651

 
(6,314
)
 
487,026

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
231,790

 
2,289

 
(603
)
 
233,476

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,444

 
360

 
(1,354
)
 
103,450

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,363,354

 
$
10,547

 
$
(23,706
)
 
$
2,350,195

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
12,842

 
$
—

 
$
(187
)
 
$
12,655

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
33,304

 
 
 
 
 
 
 
$
30,806
Securities Held-to-Maturity
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
40,938

 
$
47

 
$
(93
)
 
$
40,892

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
129,486

 
93

 
(1,258
)
 
128,321

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,365,007

 
6,107

 
(14,084
)
 
1,357,030

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
491,689

 
1,651

 
(6,314
)
 
487,026

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
231,790

 
2,289

 
(603
)
 
233,476

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,444

 
360

 
(1,354
)
 
103,450

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,363,354

 
$
10,547

 
$
(23,706
)
 
$
2,350,195

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
12,842

 
$
—

 
$
(187
)
 
$
12,655

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
33,304

 
 
 
 
 
 
 
$
30,806
Equity Securities
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
Amortized Cost
 
Gross Unrealized
 
Fair
 Value
 
 
 
Gains
 
Losses
 
 
 
Gains
 
Losses
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
40,938

 
$
47

 
$
(93
)
 
$
40,892

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
129,486

 
93

 
(1,258
)
 
128,321

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,365,007

 
6,107

 
(14,084
)
 
1,357,030

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
491,689

 
1,651

 
(6,314
)
 
487,026

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
231,790

 
2,289

 
(603
)
 
233,476

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,444

 
360

 
(1,354
)
 
103,450

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,363,354

 
$
10,547

 
$
(23,706
)
 
$
2,350,195

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
12,842

 
$
—

 
$
(187
)
 
$
12,655

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
33,304

 
 
 
 
 
 
 
$
30,806
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 
 
As of March 31, 2019
 
 
Available-for-Sale
 
Held-to-Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
 
$
118,322

 
$
118,201

 
$
10,336

 
$
10,186

After one year to five years
 
156,648

 
156,488

 
2,190

 
2,158

After five years to ten years
 
231,688

 
231,450

 
316

 
311

After ten years
 
—

 
—

 
—

 
—

Securities that do not have a single contractual maturity date
 
1,856,696

 
1,844,056

 
—

 
—

Total
 
$
2,363,354

 
$
2,350,195

 
$
12,842

 
$
12,655
Securities in an Unrealized Loss Position
The following table presents the aggregate amount of unrealized losses and the aggregate related fair values of securities with unrealized losses as of March 31, 2019 and December 31, 2018.
Securities in an Unrealized Loss Position
(Dollar amounts in thousands)
 
 
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Number of
Securities
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
As of March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
12

 
$
4,987

 
$
1

 
$
19,902

 
$
92

 
$
24,889

 
$
93

U.S. agency securities
 
64

 
20,991

 
212

 
90,081

 
1,046

 
111,072

 
1,258

CMOs
 
221

 
27,366

 
21

 
904,014

 
14,063

 
931,380

 
14,084

MBSs
 
101

 
16,064

 
36

 
347,006

 
6,278

 
363,070

 
6,314

Municipal securities
 
188

 
123

 
—

 
84,305

 
603

 
84,428

 
603

Corporate debt securities
 
16

 
52,947

 
653

 
31,782

 
701

 
84,729

 
1,354

Total
 
602

 
$
122,478

 
$
923

 
$
1,477,090

 
$
22,783

 
$
1,599,568

 
$
23,706

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
6

 
$
—

 
$
—

 
$
12,655

 
$
187

 
$
12,655

 
$
187

As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
17

 
$
15,894

 
$
57

 
$
13,886

 
$
118

 
$
29,780

 
$
175

U.S. agency securities
 
74

 
34,263

 
320

 
93,227

 
1,287

 
127,490

 
1,607

CMOs
 
234

 
171,901

 
1,671

 
863,747

 
23,013

 
1,035,648

 
24,684

MBSs
 
118

 
135,791

 
1,715

 
284,273

 
9,536

 
420,064

 
11,251

Municipal securities
 
423

 
60,863

 
558

 
109,935

 
2,316

 
170,798

 
2,874

Corporate debt securities
 
16

 
82,349

 
3,725

 
—

 
—

 
82,349

 
3,725

Total
 
882

 
$
501,061

 
$
8,046

 
$
1,365,068

 
$
36,270

 
$
1,866,129

 
$
44,316

Securities Held-to-Maturity
 
 
 
 
Municipal securities
 
5

 
$
—

 
$
—

 
$
9,871

 
$
305

 
$
9,871

 
$
305