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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017 and 2016 is as follows:
 
 
December 31, 2017
 
December 31, 2016
(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
 
$
144,904

 
$
—

 
$
(1,082
)
 
$
143,822

 
$
142,741

 
$
1

 
$
(759
)
 
$
141,983

U.S. Government agencies
 
157,638

 
2

 
(725
)
 
156,915

 
189,540

 
47

 
(435
)
 
189,152

Municipal
 
113,197

 
2,712

 
(557
)
 
115,352

 
129,446

 
2,969

 
(606
)
 
131,809

Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
30,309

 
43

 
(301
)
 
30,051

 
65,260

 
132

 
(1,000
)
 
64,392

Other
 
1,000

 
—

 
(1
)
 
999

 
1,000

 
—

 
(1
)
 
999

Mortgage-backed: (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
1,291,695

 
446

 
(31,955
)
 
1,260,186

 
1,185,448

 
284

 
(54,330
)
 
1,131,402

Collateralized mortgage obligations
 
60,092

 
64

 
(617
)
 
59,539

 
30,105

 
67

 
(490
)
 
29,682

Equity securities
 
34,234

 
3,357

 
(789
)
 
36,802

 
32,608

 
3,429

 
(789
)
 
35,248

Total available-for-sale securities
 
$
1,833,069

 
$
6,624

 
$
(36,027
)
 
$
1,803,666

 
$
1,776,148

 
$
6,929

 
$
(58,410
)
 
$
1,724,667

Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
579,062

 
$
23

 
$
(14,066
)
 
$
565,019

 
$
433,343

 
$
7

 
$
(24,470
)
 
$
408,880

Municipal
 
247,387

 
2,668

 
(2,558
)
 
247,497

 
202,362

 
647

 
(4,287
)
 
198,722

Total held-to-maturity securities
 
$
826,449

 
$
2,691

 
$
(16,624
)
 
$
812,516

 
$
635,705

 
$
654

 
$
(28,757
)
 
$
607,602

(1)
Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Schedule of Investment Securities Portfolio Continuous Unrealized Loss Position, Available for Sale Securities
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, 2017:
 
 
 
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
 
$
24,811

 
$
(215
)
 
$
119,011

 
$
(867
)
 
$
143,822

 
$
(1,082
)
U.S. Government agencies
 
14,462

 
(69
)
 
141,471

 
(656
)
 
155,933

 
(725
)
Municipal
 
28,221

 
(256
)
 
15,840

 
(301
)
 
44,061

 
(557
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
1,210

 
(1
)
 
5,665

 
(300
)
 
6,875

 
(301
)
Other
 
—

 
—

 
999

 
(1
)
 
999

 
(1
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
137,255

 
(915
)
 
989,971

 
(31,040
)
 
1,127,226

 
(31,955
)
Collateralized mortgage obligations
 
35,038

 
(213
)
 
13,719

 
(404
)
 
48,757

 
(617
)
Equity securities
 
9,116

 
(343
)
 
6,054

 
(446
)
 
15,170

 
(789
)
Total available-for-sale securities
 
$
250,113

 
$
(2,012
)
 
$
1,292,730

 
$
(34,015
)
 
$
1,542,843

 
$
(36,027
)
Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
241,849

 
$
(3,263
)
 
$
300,200

 
$
(10,803
)
 
$
542,049

 
$
(14,066
)
Municipal
 
56,901

 
(1,004
)
 
52,399

 
(1,554
)
 
109,300

 
(2,558
)
Total held-to-maturity securities
 
$
298,750

 
$
(4,267
)
 
$
352,599

 
$
(12,357
)
 
$
651,349

 
$
(16,624
)
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
)
Schedule of Investment Securities Portfolio Continuous Unrealized Loss Position, Held to Maturity
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, 2017:
 
 
 
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
 
$
24,811

 
$
(215
)
 
$
119,011

 
$
(867
)
 
$
143,822

 
$
(1,082
)
U.S. Government agencies
 
14,462

 
(69
)
 
141,471

 
(656
)
 
155,933

 
(725
)
Municipal
 
28,221

 
(256
)
 
15,840

 
(301
)
 
44,061

 
(557
)
Corporate notes:
 
 
 
 
 
 
 
 
 
 
 
 
Financial issuers
 
1,210

 
(1
)
 
5,665

 
(300
)
 
6,875

 
(301
)
Other
 
—

 
—

 
999

 
(1
)
 
999

 
(1
)
Mortgage-backed:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
137,255

 
(915
)
 
989,971

 
(31,040
)
 
1,127,226

 
(31,955
)
Collateralized mortgage obligations
 
35,038

 
(213
)
 
13,719

 
(404
)
 
48,757

 
(617
)
Equity securities
 
9,116

 
(343
)
 
6,054

 
(446
)
 
15,170

 
(789
)
Total available-for-sale securities
 
$
250,113

 
$
(2,012
)
 
$
1,292,730

 
$
(34,015
)
 
$
1,542,843

 
$
(36,027
)
Held-to-maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
241,849

 
$
(3,263
)
 
$
300,200

 
$
(10,803
)
 
$
542,049

 
$
(14,066
)
Municipal
 
56,901

 
(1,004
)
 
52,399

 
(1,554
)
 
109,300

 
(2,558
)
Total held-to-maturity securities
 
$
298,750

 
$
(4,267
)
 
$
352,599

 
$
(12,357
)
 
$
651,349

 
$
(16,624
)
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
)
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)
 
2017
 
2016
 
2015
Realized gains
 
$
147

 
$
9,399

 
$
658

Realized losses
 
(102
)
 
(1,754
)
 
(335
)
Net realized gains
 
$
45

 
$
7,645

 
$
323

Other than temporary impairment charges
 
—

 
—

 
—

Gains on investment securities, net
 
$
45

 
$
7,645

 
$
323

Proceeds from sales and calls of available-for-sale securities
 
$
336,539

 
$
2,208,010

 
$
1,515,559

Proceeds from calls of held-to-maturity securities
 
51,090

 
734,326

 
770
Contractual Maturities of Investment Securities
The amortized cost and fair value of securities as of December 31, 2017 and December 31, 2016, 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, 2017
 
December 31, 2016
(Dollars in thousands)
 
Amortized
Cost
 
Fair Value
 
Amortized
Cost
 
Fair Value
Available-for-sale securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
300,833

 
$
299,285

 
$
145,353

 
$
145,062

Due in one to five years
 
97,019

 
97,326

 
321,019

 
320,423

Due in five to ten years
 
33,947

 
35,029

 
27,319

 
28,451

Due after ten years
 
15,249

 
15,499

 
34,296

 
34,399

Mortgage-backed
 
1,351,787

 
1,319,725

 
1,215,553

 
1,161,084

Equity securities
 
34,234

 
36,802

 
32,608

 
35,248

Total available-for-sale securities
 
$
1,833,069

 
$
1,803,666

 
$
1,776,148

 
$
1,724,667

Held-to-maturity securities
 
 
 
 
 
 
 
 
Due in one year or less
 
$
170

 
$
171

 
$
—

 
$
—

Due in one to five years
 
38,392

 
38,012

 
29,794

 
29,416

Due in five to ten years
 
205,227

 
203,680

 
69,664

 
67,820

Due after ten years
 
582,660

 
570,653

 
536,247

 
510,366

Total held-to-maturity securities
 
$
826,449

 
$
812,516

 
$
635,705

 
$
607,602