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Securities Available for Sale (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Securities, Available-for-sale [Abstract]  
Summary of Securities Available for Sale
The following is a summary of securities available for sale at December 31, 2019 and 2018:
 
December 31, 2019
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(Dollars in thousands)
Debt securities:
 
 
 
 
 
 


U.S. Government agency and U.S.
  Government sponsored enterprises:
 
 
 
 
 
 
 
Collateralized mortgage obligations
$
735,094

 
$
4,220

 
$
(2,659
)
 
$
736,655

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
353,073

 
1,422

 
(1,598
)
 
352,897

Commercial
541,043

 
13,441

 
(2,360
)
 
552,124

Corporate securities
5,000

 
—

 
(800
)
 
4,200

Municipal securities
69,631

 
831

 
(351
)
 
70,111

Total investment securities available for sale
$
1,703,841

 
$
19,914

 
$
(7,768
)
 
$
1,715,987

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(Dollars in thousands)
Debt securities:
 
 
 
 
 
 
 
U.S. Government agency and U.S.
  Government sponsored enterprises:
 
 
 
 
 
 
 
Collateralized mortgage obligations
$
914,710

 
$
1,541

 
(21,129
)
 
$
895,122

Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
415,659

 
47

 
(13,101
)
 
402,605

Commercial
481,081

 
1,024

 
(12,979
)
 
469,126

Corporate securities
5,000

 
—

 
(1,174
)
 
3,826

Municipal securities
77,168

 
398

 
(1,980
)
 
75,586

Total investment securities available for sale
$
1,893,618

 
$
3,010

 
$
(50,363
)
 
$
1,846,265

 
 
 
 
 
 
 
 
Schedule of Realized Gain (Loss)
The proceeds from sales of securities and total gains and losses are listed below:
 
Year ended December 31,
 
2019
 
2018
 
2017
 
(Dollars in thousands)
Proceeds from investments sold
$
115,628

 
$
—

 
$
128,791

 
 
 
 
 
 
Gains from sales of securities
750

 
—

 
402

Losses from sales of securities
(469
)
 
—

 
(101
)
Gains from called securities
1

 
—

 
—

Net gain on sales or called securities
$
282

 
$
—

 
$
301
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of investment securities at December 31, 2019, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Collateralized mortgage obligations and mortgage-backed securities are not due at a single maturity date are shown separately.
 
December 31, 2019
 
Amortized
Cost
 
Estimated
Fair Value
 
(Dollars in thousands)
Available for sale:
 
 
 
Due within one year
$
80

 
$
80

Due after one year through five years
349

 
351

Due after five years through ten years
—

 
—

Due after ten years
74,202

 
73,880

U.S. Government agency and U.S. Government sponsored enterprises:
 
 
 
Collateralized mortgage obligations
735,094

 
736,655

Mortgage-backed securities:
 
 
 
Residential
353,073

 
352,897

Commercial
541,043

 
552,124

Total
$
1,703,841

 
$
1,715,987

 
 
 
 
Schedule of Unrealized Loss on Investments
 
 
December 31, 2019
 
 
Less than 12 months
 
12 months or longer
 
Total
Description of
Securities
 
Number 
of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
Number of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
Number 
of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
 
 (Dollars in thousands)
Collateralized mortgage obligations*
 
20

 
$
108,236

 
$
(721
)
 
32

 
$
183,050

 
$
(1,938
)
 
52

 
$
291,286

 
$
(2,659
)
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential*
 
6

 
84,107

 
(267
)
 
16

 
129,457

 
(1,331
)
 
22

 
213,564

 
(1,598
)
Commercial*
 
7

 
68,452

 
(1,037
)
 
5

 
73,697

 
(1,323
)
 
12

 
142,149

 
(2,360
)
Corporate securities
 
—

 
—

 
—

 
1

 
4,200

 
(800
)
 
1

 
4,200

 
(800
)
Municipal securities
 
2

 
8,942

 
(39
)
 
3

 
15,437

 
(312
)
 
5

 
24,379

 
(351
)
Total
 
35

 
$
269,737

 
$
(2,064
)
 
57

 
$
405,841

 
$
(5,704
)
 
92

 
$
675,578

 
$
(7,768
)

 
 
December 31, 2018
 
 
Less than 12 months
 
12 months or longer
 
Total
Description of
Securities
 
Number of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
Number of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
Number of
Securities
 
Fair Value
 
Gross
Unrealized
Losses
 
 
 (Dollars in thousands)
Collateralized mortgage obligations*
 
1

 
$
8,041

 
$
(28
)
 
93

 
$
700,095

 
$
(21,101
)
 
94

 
$
708,136

 
$
(21,129
)
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential*
 
4

 
19,973

 
(37
)
 
45

 
363,334

 
(13,064
)
 
49

 
383,307

 
(13,101
)
Commercial*
 
3

 
38,494

 
(218
)
 
27

 
312,428

 
(12,761
)
 
30

 
350,922

 
(12,979
)
Corporate securities
 
—

 
—

 
—

 
1

 
3,826

 
(1,174
)
 
1

 
3,826

 
(1,174
)
Municipal securities
 
13

 
5,528

 
(83
)
 
32

 
42,444

 
(1,897
)
 
45

 
47,972

 
(1,980
)
Total
 
21

 
$
72,036

 
$
(366
)
 
198

 
$
1,422,127

 
$
(49,997
)
 
219

 
$
1,494,163

 
$
(50,363
)
_________________________________    
* Investments in U.S. Government agency and U.S. Government sponsored enterprises