Investment Securities Held-to-Maturity (Tables)

9 Months Ended

Sep. 30, 2019

Text Block [Abstract]

Summary of Held-to-Maturity Securities

	September 30, 2019								December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated  Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(in thousands)
U.S. Treasury	$	—	$	—	$	—	$	—	$	9,960	$	—	$	2	$	9,958
U.S. Government Sponsored Enterprises		121,516		653		67		122,102		234,228		336		803		233,761
SBA Backed Securities		47,126		452		66		47,512		52,051		—		2,065		49,986
U.S. Government Agency and Sponsored Enterprises Mortgage-Backed Securities		1,995,493		29,911		6,553		2,018,851		1,750,408		2,324		55,016		1,697,716
Total	$	2,164,135	$	31,016	$	6,686	$	2,188,465	$	2,046,647	$	2,660	$	57,886	$	1,991,421

Company's Securities Held-to-Maturity

The following table shows the maturity distribution of the Company’s securities held-to-maturity at September 30, 2019.

	Amortized Cost		Fair Value
	(in thousands)
Within one year	$	70,980	$	71,260
After one but within five years		1,809,564		1,829,087
After five but within ten years		271,068		275,192
More than ten years		12,523		12,926
Total	$	2,164,135	$	2,188,465

Unrealized Market Loss of Securities

The following table shows the temporarily impaired securities of the Company’s held-to-maturity portfolio September 30, 2019. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for 12 months or less and a continuous loss position for 12 months or longer. There are 44 and 112 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 505 holdings at September 30, 2019.

	September 30, 2019
	Less Than 12 Months				12 Months or Longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises		9,976		22		9,954		45		19,930		67
SBA Backed Securities		13,673		66		—		—		13,673		66
U.S. Government Agency and Sponsored Enterprise Mortgage- Backed Securities		163,889		816		430,714		5,737		594,603		6,553
Total temporarily impaired securities	$	187,538	$	904	$	440,668	$	5,782	$	628,206	$	6,686

The following table shows the temporarily impaired securities of the Company’s held-to-maturity portfolio at December 31, 2018. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for less than 12 months and a continuous loss position for 12 months or longer. There are 56 and 315 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 475 holdings at December 31, 2018.

	December 31, 2018
	Less Than 12 Months				12 Months or Longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury	$	9,958	$	2	$	—	$	—	$	9,958	$	2
U.S. Government Sponsored Enterprises		9,849		42		69,499		761		79,348		803
SBA Backed Securities		—		—		49,987		2,065		49,987		2,065
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		188,125		2,032		1,249,689		52,984		1,437,814		55,016
Total temporarily impaired securities	$	207,932	$	2,076	$	1,369,175	$	55,810	$	1,577,107	$	57,886