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Debt Securities Available for Sale (Tables)
 9 Months Ended
Sep. 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 September 30, 2019 and December 31, 2018 are summarized as follows:
 
September 30, 2019
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
$
44,532

 
$
621

 
$
(22
)
 
$
45,131

Mortgage-backed securities and collateralized mortgage obligations
981,205

 
20,742

 
(504
)
 
1,001,443

Municipal obligations
190

 
—

 
—

 
190

Corporate debt securities
64,495

 
774

 
(669
)
 
64,600

Trust preferred securities
5,000

 
—

 
(459
)
 
4,541

 
$
1,095,422

 
$
22,137

 
$
(1,654
)
 
$
1,115,905

 
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 September 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.
 
September 30, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
One year or less
$
15,098

 
$
15,110

More than one year to five years
40,046

 
40,467

More than five years to ten years
54,073

 
54,483

More than ten years
5,000

 
4,402

 
$
114,217

 
$
114,462

Mortgage-backed securities and collateralized mortgage obligations
981,205

 
1,001,443

 
$
1,095,422

 
$
1,115,905

Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.
 
September 30, 2019
 
Amortized Cost
 
Fair Value
 
(In thousands)
 
 
 
 
More than five years to ten years
$
5,000

 
$
5,002

More than ten years
20,000

 
19,926

 
25,000

 
24,928

Mortgage-backed securities and collateralized mortgage obligations
264,089

 
271,397

 
$
289,089

 
$
296,325
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 September 30, 2019 and December 31, 2018 and if the unrealized loss position was continuous for the twelve months prior to those respective dates:
 
September 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
$
—

 
$
—

 
$
14,970

 
$
(22
)
 
$
14,970

 
$
(22
)
Mortgage-backed securities and collateralized mortgage obligations
70,393

 
(161
)
 
59,713

 
(343
)
 
130,106

 
(504
)
Corporate debt securities
4,961

 
(39
)
 
9,371

 
(630
)
 
14,332

 
(669
)
Trust preferred securities
—

 
—

 
4,541

 
(459
)
 
4,541

 
(459
)
 
$
75,354

 
$
(200
)
 
$
88,595

 
$
(1,454
)
 
$
163,949

 
$
(1,654
)
 
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
)