Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Investment securities at December 31, 2015 and December 31, 2014 were as follows:



(In thousands)	Amortized Cost		Gross Unrealized/Unrecognized Holding Gains		Gross Unrealized/Unrecognized Holding Losses		Estimated Fair Value
2015:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	527,605	$	—	$	5,542	$	522,063
U.S. Government sponsored entities’ asset-backed securities	907,989		8,776		5,272		911,493
Other equity securities	1,120		1,590		—		2,710
Total	$	1,436,714	$	10,366	$	10,814	$	1,436,266
2015:
Securities Held-to-Maturity
Obligations of states and political subdivisions	$	48,190	$	734	$	—	$	48,924
U.S. Government sponsored entities’ asset-backed securities	101,112		1,526		134		102,504
Total	$	149,302	$	2,260	$	134	$	151,428



(In thousands)	Amortized Cost		Gross Unrealized/Unrecognized Holding Gains		Gross Unrealized/Unrecognized Holding Losses		Estimated Fair Value
2014:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	546,886	$	11	$	8,833	$	538,064
U.S. Government sponsored entities’ asset-backed securities	751,974		13,421		4,242		761,153
Other equity securities	1,120		1,578		—		2,698
Total	$	1,299,980	$	15,010	$	13,075	$	1,301,915
2014:
Securities Held-to-Maturity
U.S. Government sponsored entities’ asset-backed securities	$	140,562	$	3,088	$	160	$	143,490

Schedule of unrealized loss on investments

The following table provides detail on investment securities with unrealized losses aggregated by investment category and length of time the individual securities had been in a continuous loss position at December 31, 2015 and December 31, 2014:



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2015:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	326,973	$	2,117	$	195,090	$	3,425	$	522,063	$	5,542
U.S. Government sponsored entities' asset-backed securities	384,169		2,776		114,543		2,496		498,712		5,272
Total	$	711,142	$	4,893	$	309,633	$	5,921	$	1,020,775	$	10,814
2015:
Securities Held-to-Maturity
U.S. Government sponsored entities’ asset-backed securities	$	5,656	$	10	$	7,792	$	124	$	13,448	$	134



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2014:
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	119,913	$	87	$	388,140	$	8,746	$	508,053	$	8,833
U.S. Government sponsored entities' asset-backed securities	73,276		136		170,430		4,106		243,706		4,242
Total	$	193,189	$	223	$	558,570	$	12,852	$	751,759	$	13,075
2014:
Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	8,032	$	148	$	2,714	$	12	$	10,746	$	160

Schedule of contractual maturity of debt securities

The amortized cost and estimated fair value of investments in debt securities at December 31, 2015, are shown in the following table by contractual maturity, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing in principal repayments.



(In thousands)	Amortized Cost		Estimated Fair Value		Tax Equivalent Yield
Securities Available-for-Sale
U.S. Treasury and other U.S. Government sponsored entities’ notes:
Due one through five years	$	220,000	$	219,135	1.29	%
Due five through ten years	307,605		302,928		2.40	%
Total	$	527,605	$	522,063	1.94	%

U.S. Government sponsored entities’ asset-backed securities	$	907,989	$	911,493	2.23	%

Securities Held-to-Maturity
Obligations of states and political subdivisions
Due greater than ten years	$	48,190	$	48,924	4.65	%
Total	$	48,190	$	48,924	4.65	%

U.S. Government sponsored entities’ asset-backed securities	$	101,112	$	102,504	3.42	%