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Debt Securities Available for Sale (Tables)
 3 Months Ended
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and the fair value of securities available-for-sale
Debt securities available for sale at March 31, 2019 and December 31, 2018 are summarized as follows:
 
March 31, 2019
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
54,621

 
$
240

 
$
(344
)
 
$
54,517

Mortgage-backed securities and collateralized mortgage obligations
970,978

 
6,240

 
(10,089
)
 
967,129

Municipal obligations
190

 
—

 
—

 
190

Corporate debt securities
64,493

 
103

 
(792
)
 
63,804

Trust preferred securities
5,000

 
—

 
(463
)
 
4,537

 
$
1,095,282

 
$
6,583

 
$
(11,688
)
 
$
1,090,177

 
December 31, 2018
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
54,821

 
$
53

 
$
(717
)
 
$
54,157

Mortgage-backed securities and collateralized mortgage obligations
934,631

 
2,812

 
(17,436
)
 
920,007

Municipal obligations
987

 
—

 
—

 
987

Corporate debt securities
54,493

 
129

 
(1,155
)
 
53,467

Trust preferred securities
5,000

 
—

 
(750
)
 
4,250

 
$
1,049,932

 
$
2,994

 
$
(20,058
)
 
$
1,032,868
Schedule of securities by contractual maturity
The amortized cost and fair value of debt securities available for sale at March 31, 2019, by contractual final maturity, is shown below. Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.
 
March 31, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
One year or less
$
95

 
$
95

More than one year to five years
60,043

 
59,857

More than five years to ten years
59,166

 
58,616

More than ten years
5,000

 
4,480

 
$
124,304

 
$
123,048

Mortgage-backed securities and collateralized mortgage obligations
970,978

 
967,129

 
$
1,095,282

 
$
1,090,177

Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.
 
March 31, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
More than one year to five years
$
5,000

 
$
5,003

More than five years to ten years
18,406

 
18,361

More than ten years
10,000

 
10,063

 
$
33,406

 
$
33,427

Mortgage-backed securities and collateralized mortgage obligations
254,123

 
251,023

 
$
287,529

 
$
284,450
Schedule of available-for-sale securities reported in a continuous unrealized loss position
The following tables summarize the fair value and gross unrealized losses of those securities that reported an unrealized loss at March 31, 2019 and December 31, 2018 and if the unrealized loss position was continuous for the twelve months prior to those respective dates:
 
March 31, 2019
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
Fair Value
 
Gross Unrealized (Losses)
 
Fair Value
 
Gross Unrealized (Losses)
 
Fair Value
 
Gross Unrealized (Losses)
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
—

 
$
—

 
$
34,351

 
$
(344
)
 
$
34,351

 
$
(344
)
Mortgage-backed securities and collateralized mortgage obligations
23,038

 
(187
)
 
559,793

 
(9,902
)
 
582,831

 
(10,089
)
Corporate debt securities
21,807

 
(192
)
 
14,395

 
(600
)
 
36,202

 
(792
)
Trust preferred securities
—

 
—

 
4,537

 
(463
)
 
4,537

 
(463
)
 
$
44,845

 
$
(379
)
 
$
613,076

 
$
(11,309
)
 
$
657,921

 
$
(11,688
)
 
December 31, 2018
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
Fair Value
—

Gross Unrealized (Losses)
—

Fair Value
—

Gross Unrealized (Losses)
—

Fair Value
—

Gross Unrealized (Losses)
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
14,668

 
$
(202
)
 
$
29,437

 
$
(515
)
 
$
44,105

 
$
(717
)
Mortgage-backed securities and collateralized mortgage obligations
176,614

 
(1,034
)
 
509,397

 
(16,402
)
 
686,011

 
(17,436
)
Corporate debt securities
26,480

 
(512
)
 
9,358

 
(643
)
 
35,838

 
(1,155
)
Trust preferred securities
—

 
—

 
4,250

 
(750
)
 
4,250

 
(750
)
 
$
217,762

 
$
(1,748
)
 
$
552,442

 
$
(18,310
)
 
$
770,204

 
$
(20,058
)