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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Approximate Fair Value of Investment Securities
The amortized cost and approximate fair value of investment securities are summarized as follows:
 
December 31, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available for Sale:
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
506,111

 
$
1,453

 
$
(6,590
)
 
$
500,974

Corporate notes (2)
39,925

 
320

 
(178
)
 
40,067

Equity securities (3)
22,514

 
—

 
(3,302
)
 
19,212

Total
$
568,550

 
$
1,773

 
$
(10,070
)
 
$
560,253


(1)
Consists of mortgage-backed securities issued by government-sponsored agencies, including FHLMC, FNMA, and GNMA.
(2)
Includes subordinated debt issued by other bank holding companies.
(3)
Consists primarily of equity securities issued by a foreign entity.

 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available for Sale:
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
376,854

 
$
2,805

 
$
(2,348
)
 
$
377,311

Corporate notes (2)
15,000

 
104

 
—

 
15,104

Equity securities (3)
23,074

 
1,197

 
(1
)
 
24,270

Total
$
414,928

 
$
4,106

 
$
(2,349
)
 
$
416,685

 
(1)
Consists primarily of mortgage-backed securities issued by government-sponsored agencies, including FHLMC, FNMA, and GNMA.
(2)
Includes subordinated debt issued by other bank holding companies.
(3)
Consists primarily of equity securities issued by a foreign entity.
Statement of Proceeds from Sale of Available for Sale Investment Securities
The following table shows proceeds from the sale of available-for-sale investment securities, gross gains, and gross losses on those sales of securities:
 
 
For the Year Ended December 31,
 
2015
 
2014
 
2013
(amounts in thousands)
 
 
 
 
 
Proceeds from sale of available-for-sale investment securities
$
806

 
$
213,249

 
$
135,193

Gross gains
$
—

 
$
3,191

 
$
1,274

Gross losses
(85
)
 
—

 
—

Net gains
$
(85
)
 
$
3,191

 
$
1,274
Summary of Investment Securities by Stated Maturity
The following table shows debt investment securities by stated maturity. Investment securities backed by mortgages have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay, and are, therefore, classified separately with no specific maturity date:
 
 
December 31, 2015
 
Available for Sale
 
Amortized
Cost
 
Fair
Value
(amounts in thousands)
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
—

 
—

Due after five years through ten years
32,925

 
33,112

Due after ten years
7,000

 
6,955

Mortgage-backed securities
506,111

 
500,974

Total debt securities
$
546,036

 
$
541,041
Gross Unrealized Losses and Fair Value, Aggregated by Investment Category
Gross unrealized losses and fair value of Customers' investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows:
 
 
December 31, 2015
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available for Sale:
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
305,702

 
$
(4,384
)
 
$
57,357

 
$
(2,206
)
 
$
363,059

 
$
(6,590
)
Corporate notes (2)
9,748

 
(178
)
 
—

 
—

 
9,748

 
(178
)
Equity securities (3)
19,206

 
(3,301
)
 
6

 
(1
)
 
19,212

 
(3,302
)
Total
$
334,656

 
$
(7,863
)
 
$
57,363

 
$
(2,207
)
 
$
392,019

 
$
(10,070
)

(1)
Consists of mortgage-backed securities issued by government-sponsored agencies, including FHLMC, FNMA, and GNMA.
(2)
Includes subordinated debt issued by other bank holding companies.
(3)
Consists primarily of equity securities issued by a foreign entity.
 
 
December 31, 2014
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available for Sale:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities (1)
$
60,388

 
$
(81
)
 
$
80,426

 
$
(2,267
)
 
$
140,814

 
$
(2,348
)
Equity securities (2)
—

 
—

 
5

 
(1
)
 
5

 
(1
)
Total
$
60,388

 
$
(81
)
 
$
80,431

 
$
(2,268
)
 
$
140,819

 
$
(2,349
)
 
(1)
Consists primarily of mortgage-backed securities issued by government-sponsored agencies, including FHLMC, FNMA, and GNMA.
(2)
Consists primarily of equity securities issued by a foreign entity.