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Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity at September 30, 2018 and December 31, 2017(1) are summarized as follows:
 
 
September 30, 2018
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available for sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. Government Entities
$
7,486

 
$
114

 
$
(57
)
 
$
7,543

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
597,689

 
153

 
(24,660
)
 
573,182

Private mortgage-backed securities and collateralized mortgage obligations
75,485

 
925

 
(318
)
 
76,092

Collateralized loan obligations
223,419

 
137

 
(566
)
 
222,990

Obligations of state and political subdivisions
43,951

 
261

 
(813
)
 
43,399

Totals
$
948,030

 
$
1,590


$
(26,414
)

$
923,206

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
$
313,667

 
$
—

 
$
(13,557
)
 
$
300,110

Private mortgage-backed securities and collateralized mortgage obligations
21,720

 
181

 
(131
)
 
21,770

Collateralized loan obligations
32,000

 
58

 
(19
)
 
32,039

Totals
$
367,387


$
239


$
(13,707
)

$
353,919

 
 
December 31, 2017
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available for sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. Government Entities
$
9,475

 
$
274

 
$
(5
)
 
$
9,744

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
560,396

 
1,163

 
(8,034
)
 
553,525

Private mortgage-backed securities and collateralized mortgage obligations
75,152

 
1,154

 
(285
)
 
76,021

Collateralized loan obligations
263,579

 
798

 
(68
)
 
264,309

Obligations of state and political subdivisions
45,118

 
813

 
(70
)
 
45,861

Totals
$
953,720

 
$
4,202

 
$
(8,462
)
 
$
949,460

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
$
353,541

 
$
802

 
$
(4,159
)
 
$
350,184

Private mortgage-backed securities and collateralized mortgage obligations
22,799

 
714

 
(53
)
 
23,460

Collateralized loan obligations
40,523

 
303

 
—

 
40,826

Totals
$
416,863

 
$
1,819

 
$
(4,212
)
 
$
414,470

(1) December 31, 2017 balances in the tables above reflect certain reclassifications between categories.  
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity at September 30, 2018 and December 31, 2017(1) are summarized as follows:
 
 
September 30, 2018
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available for sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. Government Entities
$
7,486

 
$
114

 
$
(57
)
 
$
7,543

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
597,689

 
153

 
(24,660
)
 
573,182

Private mortgage-backed securities and collateralized mortgage obligations
75,485

 
925

 
(318
)
 
76,092

Collateralized loan obligations
223,419

 
137

 
(566
)
 
222,990

Obligations of state and political subdivisions
43,951

 
261

 
(813
)
 
43,399

Totals
$
948,030

 
$
1,590


$
(26,414
)

$
923,206

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
$
313,667

 
$
—

 
$
(13,557
)
 
$
300,110

Private mortgage-backed securities and collateralized mortgage obligations
21,720

 
181

 
(131
)
 
21,770

Collateralized loan obligations
32,000

 
58

 
(19
)
 
32,039

Totals
$
367,387


$
239


$
(13,707
)

$
353,919

 
 
December 31, 2017
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available for sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. Government Entities
$
9,475

 
$
274

 
$
(5
)
 
$
9,744

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
560,396

 
1,163

 
(8,034
)
 
553,525

Private mortgage-backed securities and collateralized mortgage obligations
75,152

 
1,154

 
(285
)
 
76,021

Collateralized loan obligations
263,579

 
798

 
(68
)
 
264,309

Obligations of state and political subdivisions
45,118

 
813

 
(70
)
 
45,861

Totals
$
953,720

 
$
4,202

 
$
(8,462
)
 
$
949,460

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
$
353,541

 
$
802

 
$
(4,159
)
 
$
350,184

Private mortgage-backed securities and collateralized mortgage obligations
22,799

 
714

 
(53
)
 
23,460

Collateralized loan obligations
40,523

 
303

 
—

 
40,826

Totals
$
416,863

 
$
1,819

 
$
(4,212
)
 
$
414,470

(1) December 31, 2017 balances in the tables above reflect certain reclassifications between categories.  
Summary of Investments Classified by Contractual Maturity
The amortized cost and fair value of debt securities available for sale and held to maturity at September 30, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
 
 
Held to Maturity
 
Available for Sale
(In thousands)

Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
—

 
$
—

 
$
13,832

 
$
13,781

Due after one year through five years
—

 
—

 
79,637

 
79,582

Due after five years through ten years
32,000

 
32,039

 
177,911

 
177,196

Due after ten years
—

 
—

 
3,476

 
3,373

 
32,000

 
32,039

 
274,856

 
273,932

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
313,667

 
300,110

 
597,689

 
573,182

Private mortgage-backed securities and collateralized mortgage obligations
21,720

 
21,770

 
75,485

 
76,092

   Totals
$
367,387

 
$
353,919

 
$
948,030

 
$
923,206
Schedule of Debt Securities in Unrealized Loss Position
The tables below indicate the fair value of debt securities with unrealized losses and the period of time for which these losses were outstanding at September 30, 2018 and December 31, 2017, respectively.
 
 
September 30, 2018
 
Less than 12 months
 
12 months or longer
 
Total
(In thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. Government Entities
$
7,543

 
$
(57
)
 
$
—

 
$
—

 
$
7,543

 
$
(57
)
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
456,356

 
(15,703
)
 
416,936

 
(22,514
)
 
873,292

 
(38,217
)
Private mortgage-backed securities and collateralized mortgage obligations
84,026

 
(251
)
 
13,836

 
(197
)
 
97,862

 
(448
)
Collateralized loan obligations
255,030

 
(585
)
 
—

 
—

 
255,030

 
(585
)
Obligations of state and political subdivisions
40,136

 
(672
)
 
3,262

 
(142
)
 
43,398

 
(814
)
   Totals
$
843,091

 
$
(17,268
)
 
$
434,034

 
$
(22,853
)
 
$
1,277,125

 
$
(40,121
)
 
December 31, 2017
 
Less than 12 months
 
12 months or longer
 
Total
(In thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. Government Entities
$
1,107

 
$
(5
)
 
$
—

 
$
—

 
$
1,107

 
$
(5
)
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
304,723

 
(2,047
)
 
413,725

 
(10,146
)
 
718,448

 
(12,193
)
Private mortgage-backed securities and collateralized mortgage obligations
—

 
—

 
20,744

 
(338
)
 
20,744

 
(338
)
Collateralized loan obligations
14,933

 
(68
)
 
—

 
—

 
14,933

 
(68
)
Obligations of state and political subdivisions
5,414

 
(14
)
 
5,864

 
(56
)
 
11,278

 
(70
)
   Totals
$
326,177

 
$
(2,134
)
 
$
440,333

 
$
(10,540
)
 
$
766,510

 
$
(12,674
)