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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]  
Securities Available for Sale
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the fair value for securities available for sale at March 31, 2017 and December 31, 2016 (in thousands):
 

March 31, 2017
 

Amortized
cost

Gross
unrealized
gains

Gross
unrealized
losses
 
Fair
value
US Treasury obligations
 
$
7,992

 
4

 
—

 
7,996

Agency obligations

49,088


47


(27
)
 
49,108

Mortgage-backed securities

967,483


6,930


(7,095
)
 
967,318

State and municipal obligations

3,717


74


—

 
3,791

Corporate obligations
 
19,013

 
346

 
(11
)
 
19,348

Equity securities

397


161


—

 
558

 

$
1,047,690


7,562


(7,133
)
 
1,048,119

 
 
December 31, 2016
 
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair
value
US Treasury obligations
 
$
7,995

 
13

 
—

 
8,008

Agency obligations
 
57,123

 
90

 
(25
)
 
57,188

Mortgage-backed securities
 
952,992

 
7,249

 
(8,380
)
 
951,861

State and municipal obligations
 
3,727

 
19

 
(3
)
 
3,743

Corporate obligations
 
19,013

 
35

 
(11
)
 
19,037

Equity securities
 
397

 
152

 
—

 
549

 
 
$
1,041,247

 
7,558

 
(8,419
)
 
1,040,386
Investment Securities Held to Maturity
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the estimated fair value for investment securities held to maturity at March 31, 2017 and December 31, 2016 (in thousands):
 
 
March 31, 2017
 
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair
value
Agency obligations

$
4,656

 
—

 
(84
)
 
4,572

Mortgage-backed securities

680

 
25

 
—

 
705

State and municipal obligations

474,677

 
7,871

 
(4,031
)
 
478,517

Corporate obligations

9,101

 
9

 
(41
)
 
9,069

 

$
489,114

 
7,905

 
(4,156
)
 
492,863

 
 
 
 
 
 
 
 
 

 
 
December 31, 2016
 
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair
value
Agency obligations
 
$
4,306

 
2

 
(83
)
 
4,225

Mortgage-backed securities
 
893

 
31

 
—

 
924

State and municipal obligations
 
473,653

 
6,635

 
(5,436
)
 
474,852

Corporate obligations
 
9,331

 
7

 
(52
)
 
9,286

 
 
$
488,183

 
6,675

 
(5,571
)
 
489,287
Available-for-sale Securities [Member]  
Fair Value, Option, Quantitative Disclosures [Line Items]  
Investment Securities Classified by Contractual Maturity
The amortized cost and fair value of securities available for sale at March 31, 2017, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
 
 
March 31, 2017
 
 
Amortized
cost
 
Fair
value
Due in one year or less
 
$
51,483

 
51,466

Due after one year through five years
 
9,452

 
9,516

Due after five years through ten years
 
18,875

 
19,261

Due after ten years
 
—

 
—

 
 
$
79,810

 
80,243
Disclosure Regarding Length of Time on Investment Securities with Temporary Impairment
The following tables represent the Company’s disclosure regarding securities available for sale with temporary impairment at March 31, 2017 and December 31, 2016 (in thousands):
 

March 31, 2017 Unrealized Losses
 

Less than 12 months
 
12 months or longer
 
Total
 

Fair 
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
Agency obligations

$
23,046

 
(27
)
 
—

 
—

 
23,046

 
(27
)
Mortgage-backed securities

$
547,912

 
(7,092
)
 
65

 
(3
)
 
547,977

 
(7,095
)
Corporate obligations
 
—

 
—

 
990

 
(11
)
 
990

 
(11
)


$
570,958

 
(7,119
)
 
1,055

 
(14
)
 
572,013

 
(7,133
)
 

December 31, 2016 Unrealized Losses
 

Less than 12 months
 
12 months or longer
 
Total
 

Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
Agency obligations
 
14,000

 
(25
)
 
—

 
—

 
14,000

 
(25
)
Mortgage-backed securities
 
553,629

 
(8,377
)
 
65

 
(3
)
 
553,694

 
(8,380
)
State and municipal obligations
 
661

 
(3
)
 
—

 
—

 
661

 
(3
)
Corporate obligations
 
—

 
—

 
990

 
(11
)
 
990

 
(11
)


$
568,290

 
(8,405
)
 
1,055

 
(14
)
 
569,345

 
(8,419
)
Held-to-maturity Securities [Member]  
Fair Value, Option, Quantitative Disclosures [Line Items]  
Investment Securities Classified by Contractual Maturity
The amortized cost and fair value of investment securities in the held to maturity portfolio at March 31, 2017 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
 
 
March 31, 2017
 
 
Amortized
cost
 
Fair
value
Due in one year or less

$
22,570

 
22,609

Due after one year through five years

56,055

 
56,920

Due after five years through ten years

250,371

 
254,015

Due after ten years

159,438

 
158,614



$
488,434

 
492,158
Disclosure Regarding Length of Time on Investment Securities with Temporary Impairment
The following tables represent the Company’s disclosure on investment securities held to maturity with temporary impairment at March 31, 2017 and December 31, 2016 (in thousands):
 
 
March 31, 2017 Unrealized Losses
 
 
Less than 12 months
 
12 months or longer
 
Total
 
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
Agency obligations

$
3,823

 
(84
)
 
—

 
—

 
3,823

 
(84
)
State and municipal obligations

133,078

 
(3,740
)
 
6,995

 
(291
)
 
140,073

 
(4,031
)
Corporate obligations

5,712

 
(41
)
 
—

 
—

 
5,712

 
(41
)
 

$
142,613

 
(3,865
)
 
6,995

 
(291
)
 
149,608

 
(4,156
)
 
 
December 31, 2016 Unrealized Losses
 
 
Less than 12 months
 
12 months or longer
 
Total
 
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
Agency obligations
 
$
3,525

 
(83
)
 
—

 
—

 
3,525

 
(83
)
State and municipal obligations
 
172,152

 
(5,132
)
 
6,617

 
(304
)
 
178,769

 
(5,436
)
Corporate obligations
 
4,697

 
(52
)
 
—

 


 
4,697

 
(52
)
 
 
$
180,374

 
(5,267
)
 
6,617

 
(304
)
 
186,991

 
(5,571
)