Investment Securities (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule Of Investment Securities

Investment securities at September 30, 2016, were as follows:

Securities Available-for-Sale (In thousands)	Amortized Cost		Gross Unrealized Holding  Gains		Gross Unrealized Holding  Losses		Estimated  Fair Value
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	270,000	$	—	$	855	$	269,145
U.S. Government sponsored entities' asset-backed securities	932,869		20,157		129		952,897
Other equity securities	1,119		1,688		—		2,807
Total	$	1,203,988	$	21,845	$	984	$	1,224,849

Securities Held-to-Maturity (In thousands)	Amortized Cost		Gross Unrealized Holding  Gains		Gross Unrealized Holding  Losses		Estimated Fair Value
U.S. Government sponsored entities' asset-backed securities	$	81,812	$	1,885	$	19	$	83,678
Obligations of states and political subdivisions	113,283		3,777		$	200	116,860
Total	$	195,095	$	5,662	$	219	$	200,538

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

Securities Available-for-Sale (In thousands)	Amortized Cost		Gross Unrealized Holding  Gains		Gross Unrealized Holding  Losses		Estimated  Fair Value
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

Securities Held-to-Maturity (In thousands)	Amortized Cost		Gross Unrealized Holding  Gains		Gross Unrealized Holding  Losses		Estimated Fair Value
Obligations of states and political subdivision	$	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

Schedule Of Unrealized Loss On Securities

Securities with unrealized losses at September 30, 2016, were as follows:

	Unrealized loss position for less than 12 months				Unrealized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	269,145	$	855	$	—	$	—	$	269,145	$	855
U.S. Government sponsored entities' asset-backed securities	48,885		64		$	28,993	65		$	77,878	129
Total	$	318,030	$	919	$	28,993	$	65	$	347,023	$	984
Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	—	$	—	$	7,700	$	19	$	7,700	$	19
Obligations of states and political subdivisions	13,259		$	200	—		—		$	13,259	200
Total	$	13,259	$	200	$	7,700	$	19	$	20,959	$	219

Securities with unrealized losses at December 31, 2015, were as follows:

	Unrealized loss position for less than 12 months				Unrealized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
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
Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	5,656	$	10	$	7,792	$	124	$	13,448	$	134

Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity

The amortized cost and estimated fair value of investments in debt securities at September 30, 2016, 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 of principal repayments.

Securities Available-for-Sale (In thousands)	Amortized cost		Fair value		Tax equivalent yield
Obligations of U.S. Treasury and other U.S. Government sponsored entities' obligations:
Due one through five years	$	270,000	269,145		1.18	%
Total	$	270,000	$	269,145	1.18	%
U.S. Government sponsored entities' asset-backed securities:	$	932,869	$	952,897	2.13	%

Securities Held-to-Maturity (In thousands)	Amortized cost		Fair value		Tax equivalent yield
Obligations of state and political subdivisions:
Due over ten years	$	113,283	$	116,860	4.35	%
Total	$	113,283	$	116,860	4.35	%
U.S. Government sponsored entities' asset-backed securities	$	81,812	$	83,678	3.31	%