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Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Securities, Available-for-sale [Abstract]  
Securities Available for Sale
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of debt securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
September 30, 2018
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,997,736

 
$
295

 
$
(69,199
)
 
$
1,928,832

State and municipal securities
 
578,132

 
1,927

 
(12,241
)
 
567,818

U.S. government agency and government-sponsored enterprise securities
 
433,267

 
37

 
(9,087
)
 
424,217

U.S. government securities
 
251

 
—

 
(4
)
 
247

Total
 
$
3,009,386

 
$
2,259

 
$
(90,531
)
 
$
2,921,114

December 31, 2017
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,752,236

 
$
1,815

 
$
(27,326
)
 
$
1,726,725

State and municipal securities
 
593,940

 
6,023

 
(3,959
)
 
596,004

U.S. government agency and government-sponsored enterprise securities
 
416,894

 
642

 
(2,762
)
 
414,774

U.S. government securities
 
251

 
—

 
(3
)
 
248

Total
 
$
2,763,321

 
$
8,480

 
$
(34,050
)
 
$
2,737,751
Schedule of gross realized gains and losses on sales and calls of securities available for sale
The following table provides the proceeds and both gross realized gains and losses on sales of debt securities available for sale as well as other securities gains and losses for the periods indicated:
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2018
 
2017
 
2018
 
2017
 
 
(in thousands)
Proceeds from sales of debt securities available for sale
 
$
—

 
$
—

 
$
32,330

 
$
—

 
 
 
 
 
 
 
 
 
Gross realized gains from sales of debt securities available for sale
 
$
—

 
$
—

 
$
235

 
$
—

Gross realized losses from sales of debt securities available for sale
 
—

 
—

 
(129
)
 
—

Other securities losses, net (1)
 
(62
)
 
—

 
(179
)
 
—

Investment securities losses, net
 
$
(62
)
 
$
—

 
$
(73
)
 
$
—


__________
(1) Other securities losses, net includes net unrealized loss activity associated with equity securities. There were no sales of equity securities during the periods presented.
Schedule of Contractual Maturities of Investment Securities Available for Sale
The scheduled contractual maturities of debt securities available for sale at September 30, 2018 are presented as follows:
 
 
September 30, 2018
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
126,071

 
$
126,253

Due after one year through five years
 
612,279

 
598,770

Due after five years through ten years
 
1,144,161

 
1,113,290

Due after ten years
 
1,126,875

 
1,082,801

Total debt securities available for sale
 
$
3,009,386

 
$
2,921,114
Carrying Value of Securities Pledged As Collateral
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
 
 
September 30, 2018
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
256,078

Federal Reserve Bank to secure borrowings
 
51,843

Other securities pledged
 
119,981

Total securities pledged as collateral
 
$
427,902
Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses
The following table shows the gross unrealized losses and fair value of the Company’s debt securities available for sale with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2018 and December 31, 2017:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
September 30, 2018
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,084,529

 
$
(26,966
)
 
$
834,985

 
$
(42,233
)
 
$
1,919,514

 
$
(69,199
)
State and municipal securities
 
333,523

 
(6,833
)
 
96,018

 
(5,408
)
 
429,541

 
(12,241
)
U.S. government agency and government-sponsored enterprise securities
 
300,519

 
(6,269
)
 
120,102

 
(2,818
)
 
420,621

 
(9,087
)
U.S. government securities
 
—

 
—

 
247

 
(4
)
 
247

 
(4
)
Total
 
$
1,718,571

 
$
(40,068
)
 
$
1,051,352

 
$
(50,463
)
 
$
2,769,923

 
$
(90,531
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
816,678

 
$
(6,710
)
 
$
717,211

 
$
(20,616
)
 
$
1,533,889

 
$
(27,326
)
State and municipal securities
 
220,019

 
(1,723
)
 
75,172

 
(2,236
)
 
295,191

 
(3,959
)
U.S. government agency and government-sponsored enterprise securities
 
184,046

 
(1,006
)
 
155,983

 
(1,756
)
 
340,029

 
(2,762
)
U.S. government securities
 
249

 
(3
)
 
—

 
—

 
249

 
(3
)
Total
 
$
1,220,992

 
$
(9,442
)
 
$
948,366

 
$
(24,608
)
 
$
2,169,358

 
$
(34,050
)