Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule Of Investment Securities

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

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

Debt Securities Held-to-Maturity (In thousands)	Amortized Cost		Gross Unrecognized Holding  Gains		Gross Unrecognized Holding  Losses		Estimated Fair Value
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

Investment securities at March 31, 2019, were as follows:

Debt Securities Available-for-Sale (In thousands)	Amortized Cost		Gross Unrealized Holding  Gains		Gross Unrealized Holding  Losses		Estimated  Fair Value
U.S. Government sponsored entities' asset-backed securities	$	985,045	$	4,924	$	11,979	$	977,990
Total	$	985,045	$	4,924	$	11,979	$	977,990

Debt Securities Held-to-Maturity (In thousands)	Amortized Cost		Gross Unrecognized Holding  Gains		Gross Unrecognized Holding  Losses		Estimated Fair Value
U.S. Government sponsored entities' asset-backed securities	$	46,462	$	154	$	339	$	46,277
Obligations of states and political subdivisions	304,697		8,776		$	130	313,343
Total	$	351,159	$	8,930	$	469	$	359,620

Schedule Of Unrealized Loss On Securities

Investment securities with unrealized/unrecognized losses at December 31, 2018, were as follows:

	Unrealized/unrecognized loss position for less than 12 months				Unrealized/unrecognized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized/unrecognized losses		Fair value		Unrealized/unrecognized losses		Fair value		Unrealized/unrecognized losses
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
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

Investment securities with unrealized/unrecognized losses at March 31, 2019, were as follows:

	Unrealized/unrecognized loss position for less than 12 months				Unrealized/unrecognized loss position for 12 months or longer				Total
(In thousands)	Fair value		Unrealized/unrecognized losses		Fair value		Unrealized/unrecognized losses		Fair value		Unrealized/unrecognized losses
Debt Securities Available-for-Sale
U.S. Government sponsored entities' asset-backed securities	$	—	$	—	$	519,644	$	11,979	$	519,644	$	11,979
Total	$	—	$	—	$	519,644	$	11,979	$	519,644	$	11,979
Debt Securities Held-to-Maturity
U.S. Government sponsored entities' asset-backed securities	$	—	$	—	$	33,392	$	339	$	33,392	$	339
Obligations of states and political subdivisions	—		$	—	33,298		130		$	33,298	130
Total	$	—	$	—	$	66,690	$	469	$	66,690	$	469

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 March 31, 2019, 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
U.S. Government sponsored entities' asset-backed securities	$	985,045	$	977,990	2.35	%

Securities Held-to-Maturity (In thousands)	Amortized cost		Fair value		Tax equivalent yield (1)
Obligations of state and political subdivisions:
Due five through ten years	$	4,024	$	4,098	3.04	%
Due over ten years	300,673		309,245		3.69	%
Total (1)	$	304,697	$	313,343	3.68	%
U.S. Government sponsored entities' asset-backed securities	$	46,462	$	46,277	2.83	%