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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
A summary of the available-for-sale and held-to-maturity securities portfolios presenting carrying amounts and gross unrealized gains and losses as of December 31, 2016 and 2015 is as follows:
 
 
December 31, 2016
 
December 31, 2015
(Dollars in thousands)
 
Amortized
Cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair Value
 
Amortized
Cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair Value
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
142,741

 
$
1

 
$
(759
)
 
$
141,983

 
$
312,282

 
$
—

 
$
(5,553
)
 
$
306,729

U.S. Government agencies
 
189,540

 
47

 
(435
)
 
189,152

 
70,313

 
198

 
(275
)
 
70,236

Municipal
 
129,446

 
2,969

 
(606
)
 
131,809

 
105,702

 
3,249

 
(356
)
 
108,595

Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
65,260

 
132

 
(1,000
)
 
64,392

 
80,014

 
1,510

 
(1,481
)
 
80,043

Other
 
1,000

 
—

 
(1
)
 
999

 
1,500

 
4

 
(2
)
 
1,502

Mortgage-backed: (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
1,185,448

 
284

 
(54,330
)
 
1,131,402

 
1,069,680

 
3,834

 
(21,004
)
 
1,052,510

Collateralized mortgage obligations
 
30,105

 
67

 
(490
)
 
29,682

 
40,421

 
172

 
(506
)
 
40,087

Equity securities
 
32,608

 
3,429

 
(789
)
 
35,248

 
51,380

 
5,799

 
(493
)
 
56,686

Total available-for-sale securities
 
$
1,776,148

 
$
6,929

 
$
(58,410
)
 
$
1,724,667

 
$
1,731,292

 
$
14,766

 
$
(29,670
)
 
$
1,716,388

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
433,343

 
$
7

 
$
(24,470
)
 
$
408,880

 
$
687,302

 
$
4

 
$
(7,144
)
 
$
680,162

Municipal
 
202,362

 
647

 
(4,287
)
 
198,722

 
197,524

 
867

 
(442
)
 
197,949

Total held-to-maturity securities
 
$
635,705

 
$
654

 
$
(28,757
)
 
$
607,602

 
$
884,826

 
$
871

 
$
(7,586
)
 
$
878,111

(1)
Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Schedule of Investment Securities Portfolio Continuous Unrealized Loss Position
The following table presents the portion of the Company’s available-for-sale and held-to-maturity securities portfolios which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016:
 
 
 
Continuous unrealized
losses existing for less
than 12 months
 
Continuous unrealized
losses existing for
greater than 12 months
 
Total
(Dollars in thousands)
 
Fair value
 
Unrealized
losses
 
Fair value
 
Unrealized
losses
 
Fair value
 
Unrealized
losses
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
133,980

 
$
(759
)
 
$
—

 
$
—

 
$
133,980

 
$
(759
)
U.S. Government agencies
 
89,645

 
(435
)
 
—

 
—

 
89,645

 
(435
)
Municipal
 
54,711

 
(408
)
 
6,684

 
(198
)
 
61,395

 
(606
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
13,157

 
(11
)
 
34,972

 
(989
)
 
48,129

 
(1,000
)
Other
 
999

 
(1
)
 
—

 
—

 
999

 
(1
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
1,116,705

 
(54,330
)
 
—

 
—

 
1,116,705

 
(54,330
)
Collateralized mortgage obligations
 
15,038

 
(229
)
 
6,905

 
(261
)
 
21,943

 
(490
)
Equity securities
 
6,617

 
(214
)
 
8,513

 
(575
)
 
15,130

 
(789
)
Total available-for-sale securities
 
$
1,430,852

 
$
(56,387
)
 
$
57,074

 
$
(2,023
)
 
$
1,487,926

 
$
(58,410
)
Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
355,621

 
$
(23,250
)
 
$
50,033

 
$
(1,220
)
 
$
405,654

 
$
(24,470
)
Municipal
 
170,707

 
(4,137
)
 
5,708

 
(150
)
 
176,415

 
(4,287
)
Total held-to-maturity securities
 
$
526,328

 
$
(27,387
)
 
$
55,741

 
$
(1,370
)
 
$
582,069

 
$
(28,757
)
The following table presents the portion of the Company’s available-for-sale and held-to-maturity securities portfolios which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015:
 
 
 
Continuous unrealized
losses existing for less
than 12 months
 
Continuous unrealized
losses existing for
greater than 12 months
 
Total
(Dollars in thousands)
 
Fair value
 
Unrealized
losses
 
Fair value
 
Unrealized
losses
 
Fair value
 
Unrealized
losses
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
306,729

 
$
(5,553
)
 
$
—

 
$
—

 
$
306,729

 
$
(5,553
)
U.S. Government agencies
 
56,193

 
(192
)
 
8,434

 
(83
)
 
64,627

 
(275
)
Municipal
 
24,673

 
(261
)
 
3,680

 
(95
)
 
28,353

 
(356
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
16,225

 
(266
)
 
34,744

 
(1,215
)
 
50,969

 
(1,481
)
Other
 
998

 
(2
)
 
—

 
—

 
998

 
(2
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
835,086

 
(15,753
)
 
121,249

 
(5,251
)
 
956,335

 
(21,004
)
Collateralized mortgage obligations
 
12,782

 
(189
)
 
9,196

 
(317
)
 
21,978

 
(506
)
Equity securities
 
4,896

 
(77
)
 
8,485

 
(416
)
 
13,381

 
(493
)
Total available-for-sale securities
 
$
1,257,582

 
$
(22,293
)
 
$
185,788

 
$
(7,377
)
 
$
1,443,370

 
$
(29,670
)
Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
450,800

 
$
(4,223
)
 
$
235,518

 
$
(2,921
)
 
$
686,318

 
$
(7,144
)
Municipal
 
51,933

 
(282
)
 
29,192

 
(160
)
 
81,125

 
(442
)
Total held-to-maturity securities
 
$
502,733

 
$
(4,505
)
 
$
264,710

 
$
(3,081
)
 
$
767,443

 
$
(7,586
)
Schedule of Available-for-Sale Investment Securities Gross Gains and Gross Losses Realized
The following table provides information as to the amount of gross gains and gross losses realized and proceeds received through the sales and calls of investment securities:
 
 
 
Years Ended December 31,
(Dollars in thousands)
 
2016
 
2015
 
2014
Realized gains
 
$
9,399

 
$
658

 
$
405

Realized losses
 
(1,754
)
 
(335
)
 
(909
)
Net realized gains
 
$
7,645

 
$
323

 
$
(504
)
Other than temporary impairment charges
 
—

 
—

 
—

Gains (losses) on investment securities, net
 
$
7,645

 
$
323

 
$
(504
)
Proceeds from sales and calls of available-for-sale securities
 
$
2,208,010

 
$
1,515,559

 
$
852,330

Proceeds from calls of held-to-maturity securities
 
734,326

 
770

 
—
Contractual Maturities of Investment Securities
The amortized cost and fair value of securities as of December 31, 2016 and December 31, 2015, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:
 
 
 
December 31, 2016
 
December 31, 2015
(Dollars in thousands)
 
Amortized
Cost
 
Fair Value
 
Amortized
Cost
 
Fair Value
Available-for-sale securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
145,353

 
$
145,062

 
$
160,856

 
$
160,756

Due in one to five years
 
321,019

 
320,423

 
166,550

 
166,468

Due in five to ten years
 
27,319

 
28,451

 
228,652

 
225,699

Due after ten years
 
34,296

 
34,399

 
13,753

 
14,182

Mortgage-backed
 
1,215,553

 
1,161,084

 
1,110,101

 
1,092,597

Equity securities
 
32,608

 
35,248

 
51,380

 
56,686

Total available-for-sale securities
 
$
1,776,148

 
$
1,724,667

 
$
1,731,292

 
$
1,716,388

Held-to-maturity securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
—

 
$
—

 
$
—

 
$
—

Due in one to five years
 
29,794

 
29,416

 
19,208

 
19,156

Due in five to ten years
 
69,664

 
67,820

 
96,454

 
96,091

Due after ten years
 
536,247

 
510,366

 
769,164

 
762,864

Total held-to-maturity securities
 
$
635,705

 
$
607,602

 
$
884,826

 
$
878,111