Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Cost and Equity Method Investments Disclosure [Text Block]

The carrying amount of other investment securities at December 31, 2018 and 2017 was as follows:



(In thousands)	December 31, 2018		December 31, 2017
FHLB stock	$	43,388	$	50,086
FRB stock	8,225		8,225
Equity investments carried at fair value	1,649		1,935
Equity investments carried at cost/modified cost ⁽¹⁾	2,589		3,500
Total other investment securities	$	55,851	$	63,746

Schedule of marketable securities

Investment securities at December 31, 2018 and December 31, 2017 were as follows:



(In thousands)	Amortized Cost		Gross Unrealized/Unrecognized Holding Gains		Gross Unrealized/Unrecognized Holding Losses		Estimated Fair Value
2018:
Debt Securities Available-for-Sale
U.S. Government sponsored entities’ asset-backed securities	$	1,028,883	$	453	$	25,915	$	1,003,421
Total	$	1,028,883	$	453	$	25,915	$	1,003,421
2018:
Debt Securities Held-to-Maturity
Obligations of states and political subdivisions	$	305,278	$	3,202	$	2,672	$	305,808
U.S. Government sponsored entities’ asset-backed securities	46,530		87		1,003		45,614
Total	$	351,808	$	3,289	$	3,675	$	351,422



(In thousands)	Amortized Cost		Gross Unrealized/Unrecognized Holding Gains		Gross Unrealized/Unrecognized Holding Losses		Estimated Fair Value
2017:
Debt Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	245,000	$	—	$	2,280	$	242,720
U.S. Government sponsored entities’ asset-backed securities	852,645		4,645		8,129		849,161
Total	$	1,097,645	$	4,645	$	10,409	$	1,091,881
2017:
Debt Securities Held-to-Maturity
Obligations of states and political subdivisions	$	300,412	$	6,575	$	713	$	306,274
U.S. Government sponsored entities’ asset-backed securities	56,785		758		38		57,505
Total	$	357,197	$	7,333	$	751	$	363,779

Schedule of unrealized loss on investments

The following table provides detail on investment securities with unrealized/unrecognized losses aggregated by investment category and length of time the individual securities had been in a continuous loss position at December 31, 2018 and December 31, 2017:



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized/Unrecognized Losses		Fair Value		Unrealized/Unrecognized Losses		Fair Value		Unrealized/Unrecognized Losses
2018:
Debt Securities Available-for-Sale
U.S. Government sponsored entities' asset-backed securities	$	506,280	$	5,998	$	449,569	$	19,917	$	955,849	$	25,915
Total	$	506,280	$	5,998	$	449,569	$	19,917	$	955,849	$	25,915
2018:
Debt Securities Held-to-Maturity
Obligations of states and political subdivisions	$	91,960	$	1,095	$	70,723	$	1,577	$	162,683	$	2,672
U.S. Government sponsored entities’ asset-backed securities	32,656		838		6,931		165		39,587		1,003
Total	$	124,616	$	1,933	$	77,654	$	1,742	$	202,270	$	3,675



	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized/Unrecognized Losses		Fair Value		Unrealized/Unrecognized Losses		Fair Value		Unrealized/Unrecognized Losses
2017:
Debt Securities Available-for-Sale
Obligations of U.S. Treasury and other U.S. Government sponsored entities	$	24,931	$	70	$	217,789	$	2,210	$	242,720	$	2,280
U.S. Government sponsored entities' asset-backed securities	236,924		2,786		318,797		5,343		555,721		8,129
Total	$	261,855	$	2,856	$	536,586	$	7,553	$	798,441	$	10,409
2017:
Debt Securities Held-to-Maturity
Obligations of states and political subdivisions	$	26,644	$	194	$	45,498	$	519	$	72,142	$	713
U.S. Government sponsored entities' asset-backed securities	7,331		38		—		—		7,331		38
Total	$	33,975	$	232	$	45,498	$	519	$	79,473	$	751

Schedule of contractual maturity of debt securities

The amortized cost and estimated fair value of investments in debt securities at December 31, 2018, 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 ⁽¹⁾
Debt Securities Available-for-Sale
U.S. Government sponsored entities’ asset-backed securities	$	1,028,883	$	1,003,421	2.35	%

Debt Securities Held-to-Maturity
Obligations of states and political subdivisions
Due five through ten years	$	4,036	$	3,987	3.04	%
Due greater than ten years	301,242		301,821		3.69	%
Total	$	305,278	$	305,808	3.68	%

U.S. Government sponsored entities’ asset-backed securities	$	46,530	$	45,614	2.83	%