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Interest-bearing Time Deposits in Banks and Securities (Tables)
 6 Months Ended
Jun. 30, 2019
Cash and Cash Equivalents [Abstract]  
Summary of Available-for-Sale Securities
A summary of the Company’s
available-for-sale
securities follows (in thousands):
                                 
 
June 30, 2019
 
 
Amortized
Cost Basis
   
Gross
Unrealized
Holding Gains
   
Gross
Unrealized
Holding Losses
   
Estimated
Fair Value
 
U.S. Treasury securities
  $
9,984
    $
36
    $
—  
     $
10,020
 
Obligations of states and political subdivisions
   
1,103,682
     
53,593
     
(61
 )    
1,157,214
 
Corporate bonds and other
   
4,643
     
51
     
—  
      
4,694
 
Residential mortgage-backed securities
   
1,579,544
     
19,732
     
(3,101
 )    
1,596,175
 
Commercial mortgage-backed securities
   
484,919
     
6,929
     
(459
 )    
491,389
 
                                 
Total securities
available-for-sale
  $
3,182,772
    $
80,341
    $
(3,621
 )   $
3,259,492
 
                                 
 
 
 
                                 
 
June 30, 2018
 
 
Amortized
Cost Basis
   
Gross
Unrealized
Holding Gains
   
Gross
Unrealized
Holding Losses
   
Estimated
Fair Value
 
U.S. Treasury Securities
  $
9,957
    $
8
    $
—  
     $
9,965
 
Obligations of U.S. government sponsored enterprises and agencies
   
304
     
—  
      
(1
 )    
303
 
Obligations of states and political subdivisions
   
1,257,547
     
29,924
     
(2,696
 )    
1,284,775
 
Corporate bonds and other
   
4,861
     
—  
      
(79
 )    
4,782
 
Residential mortgage-backed securities
   
1,464,345
     
1,630
     
(30,718
 )    
1,435,257
 
Commercial mortgage-backed securities
   
471,398
     
—  
      
(8,913
 )    
462,485
 
                                 
Total securities
available-for-sale
  $
3,208,412
    $
31,562
    $
(42,407
 )   $
3,197,567
 
                                 
       
 
December 31, 2018
 
 
Amortized
Cost Basis
   
Gross
Unrealized
Holding Gains
   
Gross
Unrealized
Holding Losses
   
Estimated
Fair Value
 
U.S. Treasury securities
  $
9,970
    $
—  
     $
(8
 )   $
9,962
 
Obligations of U.S. government sponsored enterprises and agencies
   
301
     
—  
      
—  
      
301
 
Obligations of states and political subdivisions
   
1,229,828
     
30,013
     
(1,970
 )    
1,257,871
 
Corporate bonds and other
   
4,875
     
—  
      
(77
 )    
4,798
 
Residential mortgage-backed securities
   
1,472,228
     
3,928
     
(21,611
 )    
1,454,545
 
Commercial mortgage-backed securities
   
436,366
     
670
     
(5,736
 )    
431,300
 
                                 
Total securities
available-for-sale
  $
3,153,568
    $
34,611
    $
(29,402
 )   $
3,158,777
 
                                 
 
 
 
Amortized Cost and Estimated Fair Value of Available-for-Sale Securities
The amortized cost and estimated fair value of
available-for-sale
securities at June 30, 2019 by contractual and expected maturity, are shown below (in thousands):
                 
 
Amortized
Cost Basis
   
Estimated
Fair Value
 
Due within one year
  $
165,912
    $
167,217
 
Due after one year through five years
   
483,916
     
506,941
 
Due after five years through ten years
   
466,755
     
495,582
 
Due after ten years
   
1,726
     
2,188
 
Mortgage-backed securities
   
2,064,463
     
2,087,564
 
                 
Total
  $
3,182,772
    $
3,259,492
 
                 
 
 
 
 
Continuous Unrealized-Loss Position of Available-for-Sale Securities
The following tables disclose the Company’s investment securities that have been in a continuous
unrealized-loss
position for less than 12 months and for 12 or more months (in thousands):
                                                 
 
Less than 12 Months
   
12 Months or Longer
   
Total
 
June 30, 2019
 
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
 
Obligations of states and political subdivisions
  $
—  
     $
—  
     $
9,777
    $
61
    $
9,777
    $
61
 
Residential mortgage-backed securities
   
17,594
     
77
     
404,946
     
3,024
     
422,540
     
3,101
 
Commercial mortgage-backed securities
   
—  
      
—  
      
134,881
     
459
     
134,881
     
459
 
                                                 
Total
  $
17,594
    $
77
    $
549,604
    $
3,544
    $
567,198
    $
3,621
 
                                                 
                   
 
Less than 12 Months
   
12 Months or Longer
   
Total
 
June 30, 2018
 
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
 
Obligations of U.S. government sponsored enterprises and agencies
  $
303
    $
1
    $
—  
     $
—  
     $
303
    $
1
 
Obligations of states and political subdivisions
   
136,950
     
1,122
     
43,239
     
1,574
     
180,189
     
2,696
 
Corporate bonds and other
   
4,617
     
76
     
233
     
3
     
4,850
     
79
 
Residential mortgage-backed securities
   
1,073,327
     
21,838
     
227,155
     
8,880
     
1,300,482
     
30,718
 
Commercial mortgage-backed securities
   
379,201
     
7,477
     
83,285
     
1,436
     
462,486
     
8,913
 
                                                 
Total
  $
  1,594,398
    $
  30,514
    $
353,912
    $
11,893
    $
1,948,310
    $
42,407
 
                                                 
                   
 
Less than 12 Months
   
12 Months or Longer
   
Total
 
December 31, 2018
 
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
 
U.S. Treasury securities
  $
9,962
    $
8
    $
—  
     $
—  
     $
9,962
    $
8
 
Obligations of U.S. government sponsored enterprises and agencies
   
—  
      
—  
      
301
     
—  
      
301
     
—  
  
Obligations of state and political subdivisions
   
27,489
     
107
     
114,461
     
1,863
     
141,950
     
1,970
 
Corporate bonds and other
   
4,348
     
68
     
450
     
9
     
4,798
     
77
 
Residential mortgage-backed securities
   
119,584
     
483
     
922,289
     
21,128
     
1,041,873
     
21,611
 
Commercial mortgage-backed securities
   
1,994
     
5
     
343,015
     
5,731
     
345,009
     
5,736
 
                                                 
Total
  $
163,377
    $
671
    $
1,380,516
    $
  28,731
    $
1,543,893
    $
  29,402