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Securities (Tables)
 3 Months Ended
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale investment securities
The following tables present the amortized cost, gross unrealized gains and losses, and fair value by major categories of available-for-sale investment securities as of March 31, 2019 and December 31, 2018:
 
 
 
March 31, 2019
($ in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
528,983

 
$
—

 
$
(8,543
)
 
$
520,440

U.S. government agency and U.S. government sponsored enterprise debt securities
 
183,145

 
704

 
(1,313
)
 
182,536

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
433,435

 
2,408

 
(9,552
)
 
426,291

Residential mortgage-backed securities
 
890,126

 
3,021

 
(6,322
)
 
886,825

Municipal securities
 
76,003

 
190

 
(189
)
 
76,004

Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
41,423

 
876

 
—

 
42,299

Residential mortgage-backed securities
 
9,518

 
21

 
(84
)
 
9,455

Corporate debt securities
 
11,250

 
7

 
(163
)
 
11,094

Foreign bonds
 
489,324

 
3

 
(16,658
)
 
472,669

Asset-backed securities
 
12,627

 
—

 
(82
)
 
12,545

Total available-for-sale investment securities
 
$
2,675,834

 
$
7,230

 
$
(42,906
)
 
$
2,640,158

 
 
 
 
December 31, 2018
($ in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
577,561

 
$
153

 
$
(12,899
)
 
$
564,815

U.S. government agency and U.S. government sponsored enterprise debt securities
 
219,485

 
382

 
(2,694
)
 
217,173

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 


Commercial mortgage-backed securities
 
420,486

 
811

 
(12,694
)
 
408,603

Residential mortgage-backed securities
 
957,219

 
4,026

 
(14,552
)
 
946,693

Municipal securities
 
82,965

 
87

 
(1,032
)
 
82,020

Non-agency mortgage-backed securities:
 
 
 
 
 
 
 


Commercial mortgage-backed securities
 
25,826

 
226

 
—

 
26,052

Residential mortgage-backed securities
 
10,109

 
7

 
(185
)
 
9,931

Corporate debt securities
 
11,250

 
—

 
(381
)
 
10,869

Foreign bonds
 
489,378

 
—

 
(26,330
)
 
463,048

Asset-backed securities
 
12,621

 
22

 
—

 
12,643

Total available-for-sale investment securities
 
$
2,806,900

 
$
5,714

 
$
(70,767
)
 
$
2,741,847

 
 
 
 
 
 
 
 
 
Schedule of fair value and associated gross unrealized losses of available-for-sale investment securities
The following tables present the fair value and the associated gross unrealized losses of the Company’s available-for-sale investment securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position, as of March 31, 2019 and December 31, 2018:
 
 
 
March 31, 2019
($ in thousands)
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
—

 
$
—

 
$
520,440

 
$
(8,543
)
 
$
520,440

 
$
(8,543
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
—

 
—

 
153,149

 
(1,313
)
 
153,149

 
(1,313
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
31,872

 
(12
)
 
268,426

 
(9,540
)
 
300,298

 
(9,552
)
Residential mortgage-backed securities
 
38,927

 
(231
)
 
543,638

 
(6,091
)
 
582,565

 
(6,322
)
Municipal securities
 
4,895

 
(5
)
 
21,660

 
(184
)
 
26,555

 
(189
)
Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
 
—

 
—

 
6,695

 
(84
)
 
6,695

 
(84
)
Corporate debt securities
 
9,838

 
(163
)
 
—

 
—

 
9,838

 
(163
)
Foreign bonds
 
11,202

 
(59
)
 
458,323

 
(16,599
)
 
469,525

 
(16,658
)
Asset-backed securities
 
12,545

 
(82
)
 
—

 
—

 
12,545

 
(82
)
Total available-for-sale investment securities
 
$
109,279

 
$
(552
)
 
$
1,972,331

 
$
(42,354
)
 
$
2,081,610

 
$
(42,906
)
 
 
 
 
December 31, 2018
($ in thousands)
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
—

 
$
—

 
$
516,520

 
$
(12,899
)
 
$
516,520

 
$
(12,899
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
22,755

 
(238
)
 
159,814

 
(2,456
)
 
182,569

 
(2,694
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
26,886

 
(245
)
 
274,666

 
(12,449
)
 
301,552

 
(12,694
)
Residential mortgage-backed securities
 
75,675

 
(491
)
 
653,660

 
(14,061
)
 
729,335

 
(14,552
)
Municipal securities
 
9,458

 
(104
)
 
30,295

 
(928
)
 
39,753

 
(1,032
)
Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
 
3,067

 
(19
)
 
3,949

 
(166
)
 
7,016

 
(185
)
Corporate debt securities
 
10,869

 
(381
)
 
—

 
—

 
10,869

 
(381
)
Foreign bonds
 
14,418

 
(40
)
 
448,630

 
(26,290
)
 
463,048

 
(26,330
)
Total available-for-sale investment securities
 
$
163,128

 
$
(1,518
)
 
$
2,087,534

 
$
(69,249
)
 
$
2,250,662

 
$
(70,767
)
 
Schedule of the proceeds, gross realized gains, and tax expense related to the sales of available-for-sale investment securities
The following table presents the proceeds, gross realized gains and tax expense related to the sales of available-for-sale investment securities for the three months ended March 31, 2019 and 2018:
 
($ in thousands)
 
Three Months Ended March 31,
 
2019
 
2018
Proceeds from sales
 
$
151,339

 
$
214,790

Gross realized gains
 
$
1,561

 
$
2,129

Related tax expense
 
$
461

 
$
628

 
Schedule of contractual maturities of available-for-sale investment securities
The following table presents the contractual maturities of available-for-sale investment securities as of March 31, 2019:
 
($ in thousands)
 
Amortized Cost
 
Fair Value
Due within one year
 
$
563,394

 
$
546,641

Due after one year through five years
 
585,603

 
576,863

Due after five years through ten years
 
202,347

 
202,118

Due after ten years
 
1,324,490

 
1,314,536

Total available-for-sale investment securities
 
$
2,675,834

 
$
2,640,158

 
Schedule of restricted equity securities
The following table presents the restricted equity securities as of March 31, 2019 and December 31, 2018:
 
($ in thousands)
 
March 31, 2019
 
December 31, 2018
FRB stock
 
$
57,486

 
$
56,819

FHLB stock
 
17,250

 
17,250

Total restricted equity securities
 
$
74,736

 
$
74,069