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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
June 30, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,436

 
$
6,219

 
$
—

 
$
144,655

U.S. government agency securities
8,049

 
69

 
(26
)
 
8,092

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
314,878

 
7,680

 
(992
)
 
321,566

Municipal bonds
221,900

 
5,640

 
(56
)
 
227,484

Total obligations of states and political subdivisions
536,778

 
13,320

 
(1,048
)
 
549,050

Residential mortgage-backed securities
1,415,409

 
13,242

 
(9,585
)
 
1,419,066

Trust preferred securities
37,314

 
62

 
(6,004
)
 
31,372

Corporate and other debt securities
32,250

 
399

 
(92
)
 
32,557

Total investment securities held to maturity
$
2,168,236

 
$
33,311

 
$
(16,755
)
 
$
2,184,792

December 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,517

 
$
3,532

 
$
—

 
$
142,049

U.S. government agency securities
8,721

 
55

 
(135
)
 
8,641

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
341,702

 
4,332

 
(5,735
)
 
340,299

Municipal bonds
243,954

 
3,141

 
(1,361
)
 
245,734

Total obligations of states and political subdivisions
585,656

 
7,473

 
(7,096
)
 
586,033

Residential mortgage-backed securities
1,266,770

 
3,203

 
(34,368
)
 
1,235,605

Trust preferred securities
37,332

 
77

 
(5,923
)
 
31,486

Corporate and other debt securities
31,250

 
96

 
(217
)
 
31,129

Total investment securities held to maturity
$
2,068,246

 
$
14,436

 
$
(47,739
)
 
$
2,034,943
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 June 30, 2019 and December 31, 2018 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)
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
—

 
$
—

 
$
5,675

 
$
(26
)
 
$
5,675

 
$
(26
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
—

 
—

 
45,843

 
(992
)
 
45,843

 
(992
)
Municipal bonds
4,968

 
(27
)
 
4,331

 
(29
)
 
9,299

 
(56
)
Total obligations of states and political subdivisions
4,968

 
(27
)
 
50,174

 
(1,021
)
 
55,142

 
(1,048
)
Residential mortgage-backed securities
3,445

 
(7
)
 
674,804

 
(9,578
)
 
678,249

 
(9,585
)
Trust preferred securities
—

 
—

 
29,957

 
(6,004
)
 
29,957

 
(6,004
)
Corporate and other debt securities
—

 
—

 
4,908

 
(92
)
 
4,908

 
(92
)
Total
$
8,413

 
$
(34
)
 
$
765,518

 
$
(16,721
)
 
$
773,931

 
$
(16,755
)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
—

 
$
—

 
$
6,074

 
$
(135
)
 
$
6,074

 
$
(135
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
16,098

 
(266
)
 
138,437

 
(5,469
)
 
154,535

 
(5,735
)
Municipal bonds
3,335

 
(37
)
 
60,078

 
(1,324
)
 
63,413

 
(1,361
)
Total obligations of states and political subdivisions
19,433

 
(303
)
 
198,515

 
(6,793
)
 
217,948

 
(7,096
)
Residential mortgage-backed securities
72,240

 
(852
)
 
846,671

 
(33,516
)
 
918,911

 
(34,368
)
Trust preferred securities
—

 
—

 
30,055

 
(5,923
)
 
30,055

 
(5,923
)
Corporate and other debt securities
9,948

 
(52
)
 
4,835

 
(165
)
 
14,783

 
(217
)
Total
$
101,621

 
$
(1,207
)
 
$
1,086,150

 
$
(46,532
)
 
$
1,187,771

 
$
(47,739
)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in debt securities held to maturity at June 30, 2019 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.  
 
June 30, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
30,122

 
$
30,109

Due after one year through five years
237,783

 
243,951

Due after five years through ten years
242,178

 
253,387

Due after ten years
242,744

 
238,279

Residential mortgage-backed securities
1,415,409

 
1,419,066

Total investment securities held to maturity
$
2,168,236

 
$
2,184,792
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 June 30, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
June 30, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,963

 
$
—

 
$
(222
)
 
$
50,741

U.S. government agency securities
32,525

 
521

 
(18
)
 
33,028

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
87,473

 
465

 
(222
)
 
87,716

Municipal bonds
98,305

 
899

 
(223
)
 
98,981

Total obligations of states and political subdivisions
185,778

 
1,364

 
(445
)
 
186,697

Residential mortgage-backed securities
1,373,033

 
8,303

 
(8,357
)
 
1,372,979

Corporate and other debt securities
35,416

 
489

 
—

 
35,905

Total investment securities available for sale
$
1,677,715

 
$
10,677

 
$
(9,042
)
 
$
1,679,350

December 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,975

 
$
—

 
$
(1,669
)
 
$
49,306

U.S. government agency securities
36,844

 
71

 
(638
)
 
36,277

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
100,777

 
18

 
(3,682
)
 
97,113

Municipal bonds
101,207

 
209

 
(1,437
)
 
99,979

Total obligations of states and political subdivisions
201,984

 
227

 
(5,119
)
 
197,092

Residential mortgage-backed securities
1,469,059

 
1,484

 
(40,761
)
 
1,429,782

Corporate and other debt securities
37,542

 
213

 
(668
)
 
37,087

Total investment securities available for sale
$
1,796,404

 
$
1,995

 
$
(48,855
)
 
$
1,749,544
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 June 30, 2019 and December 31, 2018 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)
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
—

 
$
—

 
$
50,741

 
$
(222
)
 
$
50,741

 
$
(222
)
U.S. government agency securities
—

 
—

 
2,488

 
(18
)
 
2,488

 
(18
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
—

 
—

 
43,868

 
(222
)
 
43,868

 
(222
)
Municipal bonds
1,986

 
(34
)
 
20,335

 
(189
)
 
22,321

 
(223
)
Total obligations of states and political subdivisions
1,986

 
(34
)
 
64,203

 
(411
)
 
66,189

 
(445
)
Residential mortgage-backed securities
220

 
(3
)
 
703,691

 
(8,354
)
 
703,911

 
(8,357
)
Total
$
2,206

 
$
(37
)
 
$
821,123

 
$
(9,005
)
 
$
823,329

 
$
(9,042
)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
—

 
$
—

 
$
49,306

 
$
(1,669
)
 
$
49,306

 
$
(1,669
)
U.S. government agency securities
2,120

 
(20
)
 
26,775

 
(618
)
 
28,895

 
(638
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
17,560

 
(95
)
 
75,718

 
(3,587
)
 
93,278

 
(3,682
)
Municipal bonds
5,018

 
(106
)
 
70,286

 
(1,331
)
 
75,304

 
(1,437
)
Total obligations of states and political subdivisions
22,578

 
(201
)
 
146,004

 
(4,918
)
 
168,582

 
(5,119
)
Residential mortgage-backed securities
119,645

 
(668
)
 
1,221,942

 
(40,093
)
 
1,341,587

 
(40,761
)
Corporate and other debt securities
12,339

 
(161
)
 
12,397

 
(507
)
 
24,736

 
(668
)
Total
$
156,682

 
$
(1,050
)
 
$
1,456,424

 
$
(47,805
)
 
$
1,613,106

 
$
(48,855
)
Contractual Maturities of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at June 30, 2019 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.
 
June 30, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
9,121

 
$
9,117

Due after one year through five years
125,530

 
125,671

Due after five years through ten years
66,064

 
67,046

Due after ten years
103,967

 
104,537

Residential mortgage-backed securities
1,373,033

 
1,372,979

Total investment securities available for sale
$
1,677,715

 
$
1,679,350