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Debt Securities Available for Sale (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2019 and December 31, 2018 are summarized as follows:
 
June 30, 2019
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
49,623

 
$
684

 
$
(46
)
 
$
50,261

Mortgage-backed securities and collateralized mortgage obligations
965,224

 
14,808

 
(1,613
)
 
978,419

Municipal obligations
2,420

 
—

 
—

 
2,420

Corporate debt securities
64,494

 
486

 
(786
)
 
64,194

Trust preferred securities
5,000

 
—

 
(493
)
 
4,507

 
$
1,086,761

 
$
15,978

 
$
(2,938
)
 
$
1,099,801

 
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 June 30, 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.
 
June 30, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
One year or less
$
12,319

 
$
12,322

More than one year to five years
45,050

 
45,319

More than five years to ten years
59,168

 
59,261

More than ten years
5,000

 
4,480

 
$
121,537

 
$
121,382

Mortgage-backed securities and collateralized mortgage obligations
965,224

 
978,419

 
$
1,086,761

 
$
1,099,801

Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.
 
June 30, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
More than five years to ten years
$
28,406

 
$
28,443

More than ten years
10,000

 
10,078

 
38,406

 
38,521

Mortgage-backed securities and collateralized mortgage obligations
261,199

 
264,658

 
$
299,605

 
$
303,179
Debt securities, available-for-sale, unrealized loss position, fair value
The following tables summarize the fair value and gross unrealized losses of those securities that reported an unrealized loss at June 30, 2019 and December 31, 2018 and if the unrealized loss position was continuous for the twelve months prior to those respective dates:
 
June 30, 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
$
—

 
$
—

 
$
19,928

 
$
(46
)
 
$
19,928

 
$
(46
)
Mortgage-backed securities and collateralized mortgage obligations
29,160

 
(158
)
 
193,169

 
(1,455
)
 
222,329

 
(1,613
)
Corporate debt securities
9,794

 
(208
)
 
14,422

 
(578
)
 
24,216

 
(786
)
Trust preferred securities
—

 
—

 
4,507

 
(493
)
 
4,507

 
(493
)
 
$
38,954

 
$
(366
)
 
$
232,026

 
$
(2,572
)
 
$
270,980

 
$
(2,938
)
 
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
)