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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of securities held to maturity at March 31, 2018 and December 31, 2017 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
March 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,638

 
$
4,093

 
$
—

 
$
142,731

U.S. government agency securities
9,580

 
30

 
(173
)
 
9,437

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
354,277

 
5,416

 
(4,741
)
 
354,952

Municipal bonds
264,994

 
3,960

 
(1,415
)
 
267,539

Total obligations of states and political subdivisions
619,271

 
9,376

 
(6,156
)
 
622,491

Residential mortgage-backed securities
1,184,757

 
3,162

 
(36,852
)
 
1,151,067

Trust preferred securities
49,828

 
21

 
(7,059
)
 
42,790

Corporate and other debt securities
46,509

 
218

 
(289
)
 
46,438

Total investment securities held to maturity
$
2,048,583

 
$
16,900

 
$
(50,529
)
 
$
2,014,954

December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,676

 
$
6,581

 
$
—

 
$
145,257

U.S. government agency securities
9,859

 
122

 
—

 
9,981

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
244,272

 
7,083

 
(1,653
)
 
249,702

Municipal bonds
221,606

 
6,199

 
(28
)
 
227,777

Total obligations of states and political subdivisions
465,878

 
13,282

 
(1,681
)
 
477,479

Residential mortgage-backed securities
1,131,945

 
4,842

 
(18,743
)
 
1,118,044

Trust preferred securities
49,824

 
60

 
(9,796
)
 
40,088

Corporate and other debt securities
46,509

 
532

 
(270
)
 
46,771

Total investment securities held to maturity
$
1,842,691

 
$
25,419

 
$
(30,490
)
 
$
1,837,620
Age of Unrealized Losses and Fair Value of Related Securities Held to Maturity
The age of unrealized losses and fair value of related securities held to maturity at March 31, 2018 and December 31, 2017 were as follows: 
 
Less than
Twelve Months
 
More than
Twelve Months
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
(in thousands)
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
6,674

 
$
(173
)
 
$
—

 
$
—

 
$
6,674

 
$
(173
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
$
120,794

 
$
(1,759
)
 
$
50,493

 
$
(2,982
)
 
$
171,287

 
$
(4,741
)
Municipal bonds
86,817

 
(1,385
)
 
534

 
(30
)
 
87,351

 
(1,415
)
Total obligations of states and political subdivisions
207,611

 
(3,144
)
 
51,027

 
(3,012
)
 
258,638

 
(6,156
)
Residential mortgage-backed securities
448,658

 
(10,831
)
 
544,329

 
(26,021
)
 
992,987

 
(36,852
)
Trust preferred securities
95

 
(258
)
 
29,673

 
(6,801
)
 
29,768

 
(7,059
)
Corporate and other debt securities
7,211

 
(289
)
 
—

 
—

 
7,211

 
(289
)
Total
$
670,249

 
$
(14,695
)
 
$
625,029

 
$
(35,834
)
 
$
1,295,278

 
$
(50,529
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
$
6,342

 
$
(50
)
 
$
53,034

 
$
(1,603
)
 
$
59,376

 
$
(1,653
)
Municipal bonds
4,644

 
(25
)
 
561

 
(3
)
 
5,205

 
(28
)
Total obligations of states and political subdivisions
10,986

 
(75
)
 
53,595

 
(1,606
)
 
64,581

 
(1,681
)
Residential mortgage-backed securities
344,216

 
(2,357
)
 
570,969

 
(16,386
)
 
915,185

 
(18,743
)
Trust preferred securities
—

 
—

 
38,674

 
(9,796
)
 
38,674

 
(9,796
)
Corporate and other debt securities
9,980

 
(270
)
 
—

 
—

 
9,980

 
(270
)
Total
$
365,182

 
$
(2,702
)
 
$
663,238

 
$
(27,788
)
 
$
1,028,420

 
$
(30,490
)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in debt securities held to maturity at March 31, 2018 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.  
 
March 31, 2018
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
29,867

 
$
29,938

Due after one year through five years
220,797

 
224,495

Due after five years through ten years
322,027

 
330,712

Due after ten years
291,135

 
278,742

Residential mortgage-backed securities
1,184,757

 
1,151,067

Total investment securities held to maturity
$
2,048,583

 
$
2,014,954
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available for sale at March 31, 2018 and December 31, 2017 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
March 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,992

 
$
—

 
$
(2,086
)
 
$
48,906

U.S. government agency securities
41,140

 
132

 
(682
)
 
40,590

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
114,081

 
55

 
(1,853
)
 
112,283

Municipal bonds
109,876

 
321

 
(1,306
)
 
108,891

Total obligations of states and political subdivisions
223,957

 
376

 
(3,159
)
 
221,174

Residential mortgage-backed securities
1,514,862

 
1,708

 
(42,495
)
 
1,474,075

Trust preferred securities
3,628

 
—

 
(445
)
 
3,183

Corporate and other debt securities
55,756

 
324

 
(494
)
 
55,586

Total investment securities available for sale
$
1,890,335

 
$
2,540

 
$
(49,361
)
 
$
1,843,514

December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,997

 
$
—

 
$
(1,355
)
 
$
49,642

U.S. government agency securities
42,384

 
158

 
(37
)
 
42,505

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
38,435

 
158

 
(374
)
 
38,219

Municipal bonds
74,752

 
477

 
(564
)
 
74,665

Total obligations of states and political subdivisions
113,187

 
635

 
(938
)
 
112,884

Residential mortgage-backed securities
1,239,534

 
2,423

 
(18,662
)
 
1,223,295

Trust preferred securities
3,726

 
—

 
(512
)
 
3,214

Corporate and other debt securities
50,701

 
623

 
(160
)
 
51,164

Equity securities
10,505

 
1,190

 
(494
)
 
11,201

Total investment securities available for sale
$
1,511,034

 
$
5,029

 
$
(22,158
)
 
$
1,493,905
Age of Unrealized Losses and Fair Value of Related Securities Available for Sale
The age of unrealized losses and fair value of related securities available for sale at March 31, 2018 and December 31, 2017 were as follows: 
 
Less than
Twelve Months
 
More than
Twelve Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(in thousands)
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
906

 
$
(11
)
 
$
48,000

 
$
(2,075
)
 
$
48,906

 
$
(2,086
)
U.S. government agency securities
32,584

 
(682
)
 
—

 
—

 
32,584

 
(682
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
100,090

 
(1,557
)
 
7,674

 
(296
)
 
107,764

 
(1,853
)
Municipal bonds
71,192

 
(937
)
 
12,067

 
(369
)
 
83,259

 
(1,306
)
Total obligations of states and political subdivisions
171,282

 
(2,494
)
 
19,741

 
(665
)
 
191,023

 
(3,159
)
Residential mortgage-backed securities
811,654

 
(17,738
)
 
565,498

 
(24,757
)
 
1,377,152

 
(42,495
)
Trust preferred securities
—

 
—

 
3,183

 
(445
)
 
3,183

 
(445
)
Corporate and other debt securities
24,426

 
(284
)
 
4,775

 
(210
)
 
29,201

 
(494
)
Total
$
1,040,852

 
$
(21,209
)
 
$
641,197

 
$
(28,152
)
 
$
1,682,049

 
$
(49,361
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
916

 
$
(2
)
 
$
48,726

 
$
(1,353
)
 
$
49,642

 
$
(1,355
)
U.S. government agency securities
31,177

 
(37
)
 
—

 
—

 
31,177

 
(37
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
13,337

 
(131
)
 
7,792

 
(243
)
 
21,129

 
(374
)
Municipal bonds
31,669

 
(256
)
 
12,133

 
(308
)
 
43,802

 
(564
)
Total obligations of states and political subdivisions
45,006

 
(387
)
 
19,925

 
(551
)
 
64,931

 
(938
)
Residential mortgage-backed securities
406,940

 
(2,461
)
 
599,167

 
(16,201
)
 
1,006,107

 
(18,662
)
Trust preferred securities
—

 
—

 
3,214

 
(512
)
 
3,214

 
(512
)
Corporate and other debt securities
5,855

 
(45
)
 
15,115

 
(115
)
 
20,970

 
(160
)
Equity securities
—

 
—

 
5,150

 
(494
)
 
5,150

 
(494
)
Total
$
489,894

 
$
(2,932
)
 
$
691,297

 
$
(19,226
)
 
$
1,181,191

 
$
(22,158
)
Contractual Maturities of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at March 31, 2018 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 
March 31, 2018
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
19,047

 
$
19,133

Due after one year through five years
123,697

 
120,633

Due after five years through ten years
83,785

 
83,376

Due after ten years
148,944

 
146,297

Residential mortgage-backed securities
1,514,862

 
1,474,075

Total investment securities available for sale
$
1,890,335

 
$
1,843,514