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Investments (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities
The following table summarizes the amortized costs and estimated fair values of AFS and HTM securities, as of the dates indicated:
 
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
December 31, 2018
  

 
  

 
  

 
  

AFS Investments (carried at fair value):
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
94,430

 
$
216

 
$
(894
)
 
$
93,752

Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
466,613

 
583

 
(13,524
)
 
453,672

Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
351,958

 
1,007

 
(10,071
)
 
342,894

Subordinated corporate bonds
20,398

 
23

 
(47
)
 
20,374

Total AFS investments
$
933,399

 
$
1,829

 
$
(24,536
)
 
$
910,692

HTM Investments (carried at amortized cost):
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
1,307

 
$
8

 
$
(24
)
 
$
1,291

Total HTM investments
$
1,307

 
$
8

 
$
(24
)
 
$
1,291

December 31, 2017
  

 
  

 
  

 
  

AFS Investments (carried at fair value):
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
7,232

 
$
103

 
$
—

 
$
7,335

Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
510,176

 
597

 
(7,471
)
 
503,302

Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
279,575

 
14

 
(6,790
)
 
272,799

Subordinated corporate bonds
5,484

 
173

 
—

 
5,657

Equity investments(1)
554

 
252

 
—

 
806

Total AFS investments
$
803,021

 
$
1,139

 
$
(14,261
)
 
$
789,899

HTM Securities (carried at amortized cost):


 


 


 


Obligations of states and political subdivisions
$
94,073

 
$
1,077

 
$
(237
)
 
$
94,913

Total HTM investments
$
94,073

 
$
1,077

 
$
(237
)
 
$
94,913


(1)
As of December 31, 2017, equity investments with a readily determinable fair value were designated and presented as AFS investments on the consolidated statements of condition. Upon adoption of ASU 2016-01, effective January 1, 2018, these investments were no longer eligible for designation, accounting and presentation as AFS. At December 31, 2018, the Company's equity investments with a readily determinable fair value were presented within other investments on the consolidated statements of condition. Refer to Note 1 for further details.
The following table summarizes the cost and estimated fair values of the Company's investment in equity securities, FHLBB stock and FRBB stock as presented within other investments on the consolidated statements of condition, as of the dates indicated:
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value /
Carrying Value
December 31, 2018
 

 
 

 
 

 
 

Equity securities - bank stock (carried at fair value)(1)
$
544

 
$
202

 
$
—

 
$
746

FHLBB (carried at cost)
8,559

 
—

 
—

 
8,559

FRB (carried at cost)
5,374

 
—

 
—

 
5,374

Total other investments
$
14,477

 
$
202

 
$
—

 
$
14,679

December 31, 2017
 

 
 

 
 

 
 

FHLBB (carried at cost)
$
18,296

 
$
—

 
$
—

 
$
18,296

FRB (carried at cost)
5,374

 
—

 
—

 
5,374

Total other investments
$
23,670

 
$
—

 
$
—

 
$
23,670

(1)
Effective January 1, 2018 these investments were reclassified to other investments on the consolidated statements of condition as they are no longer eligible for AFS classification upon adoption of ASU 2016-01. Refer to Note 1 for further details.
Unrealized Gross Losses and Estimated Fair Values of Investment Securities by Length of Time that Individual Securities in Each Category in Continuous Loss Position
The following table presents the estimated fair values and gross unrealized losses on AFS and HTM investments that were in a continuous loss position at December 31, 2018 and 2017, by length of time that individual securities in each category have been in a continuous loss position:
 
Less Than 12 Months
 
12 Months or More
 
Total
  
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
December 31, 2018
  

 
  

 
  

 
  

 
  

 
  

AFS Investments:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
36,218

 
$
(281
)
 
$
28,437

 
$
(613
)
 
$
64,655

 
$
(894
)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
46,459

 
(252
)
 
364,430

 
(13,272
)
 
410,889

 
(13,524
)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
5,956

 
(40
)
 
227,461

 
(10,031
)
 
233,417

 
(10,071
)
Subordinated corporate bonds
11,378

 
(26
)
 
966

 
(21
)
 
12,344

 
(47
)
Total AFS investments
$
100,011

 
$
(599
)
 
$
621,294

 
$
(23,937
)
 
$
721,305

 
$
(24,536
)
HTM Investments:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
509

 
$
(5
)
 
$
411

 
$
(19
)
 
$
920

 
$
(24
)
Total HTM investments
$
509

 
$
(5
)
 
$
411

 
$
(19
)
 
$
920

 
$
(24
)
December 31, 2017
  

 
  

 
  

 
  

 
  

 
  

AFS Investments:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
$
221,466

 
$
(2,393
)
 
$
233,971

 
$
(5,078
)
 
$
455,437

 
$
(7,471
)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
102,612

 
(696
)
 
164,389

 
(6,094
)
 
267,001

 
(6,790
)
Total AFS investments
$
324,078

 
$
(3,089
)
 
$
398,360

 
$
(11,172
)
 
$
722,438

 
$
(14,261
)
HTM Investments:


 


 


 


 


 


Obligations of states and political subdivisions
$
9,317

 
$
(57
)
 
$
9,436

 
$
(180
)
 
$
18,753

 
$
(237
)
Total HTM investments
$
9,317

 
$
(57
)
 
$
9,436

 
$
(180
)
 
$
18,753

 
$
(237
)
Company's Sales of Securities
The following table details the Company’s sales of investments for the period indicated below:
 
For The Year Ended
December 31,
  
2018
 
2017
 
2016
Proceeds from sales of AFS investments
$
56,155

 
$
20,366

 
$
28,850

Gross realized gains
32

 
869

 
125

Gross realized losses
(695
)
 
(14
)
 
(74
)
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity
The amortized cost and estimated fair values of AFS and HTM investments by contractual maturity at December 31, 2018 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
Amortized Cost
 
Fair
Value
AFS Investments
 
 
 
Due in one year or less
$
17,046

 
$
16,987

Due after one year through five years
68,064

 
66,560

Due after five years through ten years
247,274

 
241,539

Due after ten years
601,015

 
585,606

  
$
933,399

 
$
910,692

HTM Investments
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
—

 
—

Due after five years through ten years
1,307

 
1,291

Due after ten years
—

 
—

 
$
1,307

 
$
1,291