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Securities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 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
 
$
42,946

 
$
162

 
$
(21
)
 
$
43,087

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
187,085

 
813

 
(660
)
 
187,238

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,533,298

 
19,111

 
(2,681
)
 
1,549,728

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
666,454

 
6,768

 
(2,815
)
 
670,407

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
234,028

 
4,420

 
(106
)
 
238,342

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,427

 
1,068

 
(981
)
 
104,514

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,768,238

 
$
32,342

 
$
(7,264
)
 
$
2,793,316

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
23,277

 
$
—

 
$
(872
)
 
$
22,405

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
40,690

 
 
 
 
 
 
 
$
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 June 30, 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
 
$
42,946

 
$
162

 
$
(21
)
 
$
43,087

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
187,085

 
813

 
(660
)
 
187,238

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,533,298

 
19,111

 
(2,681
)
 
1,549,728

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
666,454

 
6,768

 
(2,815
)
 
670,407

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
234,028

 
4,420

 
(106
)
 
238,342

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,427

 
1,068

 
(981
)
 
104,514

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,768,238

 
$
32,342

 
$
(7,264
)
 
$
2,793,316

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
23,277

 
$
—

 
$
(872
)
 
$
22,405

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
40,690

 
 
 
 
 
 
 
$
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 June 30, 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
 
$
42,946

 
$
162

 
$
(21
)
 
$
43,087

 
$
37,925

 
$
17

 
$
(175
)
 
$
37,767

U.S. agency securities
 
187,085

 
813

 
(660
)
 
187,238

 
144,125

 
45

 
(1,607
)
 
142,563

Collateralized mortgage
  obligations ("CMOs")
 
1,533,298

 
19,111

 
(2,681
)
 
1,549,728

 
1,336,531

 
3,362

 
(24,684
)
 
1,315,209

Other mortgage-backed
  securities ("MBSs")
 
666,454

 
6,768

 
(2,815
)
 
670,407

 
477,665

 
520

 
(11,251
)
 
466,934

Municipal securities
 
234,028

 
4,420

 
(106
)
 
238,342

 
229,600

 
461

 
(2,874
)
 
227,187

Corporate debt securities
 
104,427

 
1,068

 
(981
)
 
104,514

 
86,074

 
—

 
(3,725
)
 
82,349

Total securities
  available-for-sale
 
$
2,768,238

 
$
32,342

 
$
(7,264
)
 
$
2,793,316

 
$
2,311,920

 
$
4,405

 
$
(44,316
)
 
$
2,272,009

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
$
23,277

 
$
—

 
$
(872
)
 
$
22,405

 
$
10,176

 
$
—

 
$
(305
)
 
$
9,871

Equity Securities
 
 
 
 
 
 
 
$
40,690

 
 
 
 
 
 
 
$
30,806
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 
 
As of June 30, 2019
 
 
Available-for-Sale
 
Held-to-Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
 
$
133,657

 
$
134,761

 
$
8,736

 
$
8,409

After one year to five years
 
167,113

 
168,493

 
5,982

 
5,758

After five years to ten years
 
267,707

 
269,918

 
5,531

 
5,324

After ten years
 
9

 
9

 
3,028

 
2,914

Securities that do not have a single contractual maturity date
 
2,199,752

 
2,220,135

 
—

 
—

Total
 
$
2,768,238

 
$
2,793,316

 
$
23,277

 
$
22,405
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 June 30, 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 June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
5

 
$
—

 
$
—

 
$
13,982

 
$
21

 
$
13,982

 
$
21

U.S. agency securities
 
51

 
186

 
7

 
82,022

 
653

 
82,208

 
660

CMOs
 
108

 
9,896

 
31

 
371,269

 
2,650

 
381,165

 
2,681

MBSs
 
83

 
21,325

 
71

 
250,402

 
2,744

 
271,727

 
2,815

Municipal securities
 
57

 
608

 
8

 
23,646

 
98

 
24,254

 
106

Corporate debt securities
 
9

 
11,032

 
21

 
29,134

 
960

 
40,166

 
981

Total
 
313

 
$
43,047

 
$
138

 
$
770,455

 
$
7,126

 
$
813,502

 
$
7,264

Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
 
32

 
$
12,884

 
$
501

 
$
9,521

 
$
371

 
$
22,405

 
$
872

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