Available for Sale Debt Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Securities Available for Sale

Available for sale debt securities at December 31, 2019 and 2018 are summarized as follows (in thousands):

	2019
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Mortgage-backed securities	$	936,196	12,367	(1,133)	947,430
State and municipal obligations	3,907		172	—	4,079
Corporate obligations	25,032		393	(15)	25,410
	$	965,135	12,932	(1,148)	976,919

	2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Mortgage-backed securities	$	1,048,415	2,704	(16,150)	1,034,969
State and municipal obligations	2,828		84	—	2,912
Corporate obligations	25,039		268	(109)	25,198
	$	1,076,282	3,056	(16,259)	1,063,079

Securities Available for Sale by Contractual Maturity

The amortized cost and fair value of available for sale debt securities at December 31, 2019, 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.

	2019
	Amortized cost		Fair value
Due after one year through five years	$	3,003	3,074
Due after five years through ten years	25,936		26,415
	$	28,939	29,489

Disclosure on Securities Available for Sale with Temporary Impairment

The following tables represent the Company’s disclosure on available for sale debt securities with temporary impairment (in thousands):

	December 31, 2019 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
Mortgage-backed securities	$	136,270	(629)	46,819	(504)	183,089	(1,133)
Corporate obligations	2,013		(15)	—	—	2,013	(15)
	$	138,283	(644)	46,819	(504)	185,102	(1,148)

	December 31, 2018 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
Mortgage-backed securities	$	218,175	(2,173)	545,880	(13,977)	764,055	(16,150)
Corporate obligations	7,897		(109)	—	—	7,897	(109)
	$	226,072	(2,282)	545,880	(13,977)	771,952	(16,259)