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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Values of Investment Securities
The following table presents the amortized cost and estimated fair values of investment securities, which were all classified as available for sale:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
(in thousands)
June 30, 2018
 
 
 
 
 
 
 
U.S. Government sponsored agency securities
$
26,830

 
$
5

 
$
(309
)
 
$
26,526

State and municipal securities
415,460

 
2,101

 
(9,865
)
 
407,696

Corporate debt securities
92,411

 
1,261

 
(1,802
)
 
91,870

Collateralized mortgage obligations
742,282

 
406

 
(18,366
)
 
724,322

Residential mortgage-backed securities
1,035,724

 
2,342

 
(37,102
)
 
1,000,964

Commercial mortgage-backed securities
244,046

 
34

 
(5,297
)
 
238,783

Auction rate securities
107,410

 
—

 
(4,288
)
 
103,122

   Total
$
2,664,163

 
$
6,149

 
$
(77,029
)
 
$
2,593,283

 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
(in thousands)
December 31, 2017
 
 
 
 
 
 
 
U.S. Government sponsored agency securities
$
5,962

 
$
2

 
$
(26
)
 
$
5,938

State and municipal securities
405,860

 
5,638

 
(2,549
)
 
408,949

Corporate debt securities
96,353

 
2,832

 
(1,876
)
 
97,309

Collateralized mortgage obligations
611,927

 
491

 
(9,795
)
 
602,623

Residential mortgage-backed securities
1,132,080

 
3,957

 
(15,241
)
 
1,120,796

Commercial mortgage-backed securities
215,351

 
—

 
(2,596
)
 
212,755

Auction rate securities
107,410

 
—

 
(8,742
)
 
98,668

   Total debt securities
2,574,943

 
12,920

 
(40,825
)
 
2,547,038

Equity securities
776

 
142

 
—

 
918

   Total
$
2,575,719

 
$
13,062

 
$
(40,825
)
 
$
2,547,956
Schedule of Amortized Cost and Fair Values of Debt Securities by Contractual Maturities
The amortized cost and estimated fair values of debt securities as of June 30, 2018, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities as certain investment securities are subject to call or prepayment with or without call or prepayment penalties.
 
 
Amortized
Cost
 
Estimated
Fair Value
 
(in thousands)
Due in one year or less
 
$
7,305

 
$
7,313

Due from one year to five years
 
44,956

 
44,959

Due from five years to ten years
 
109,639

 
109,503

Due after ten years
 
480,211

 
467,439

 
 
642,111

 
629,214

Residential mortgage-backed securities(1)
 
1,035,724

 
1,000,964

Commercial mortgage-backed securities(1)
 
244,046

 
238,783

Collateralized mortgage obligations(1)
 
742,282

 
724,322

  Total
 
$
2,664,163

 
$
2,593,283

(1) Maturities for mortgage-backed securities and collateralized mortgage obligations are dependent upon the interest rate environment and prepayments on the underlying loans.
Summary of Gains and Losses from Equity and Debt Securities, and Losses Recognized from Other-than-Temporary Impairment
The following table presents information related to the gross realized gains and losses on the sales of equity and debt securities:
 
Gross
Realized
Gains
 
Gross
Realized
Losses
 
Net Gains (Losses)
Three months ended June 30, 2018
(in thousands)
Equity securities
$
—

 
$
—

 
$
—

Debt securities
1,530

 
(1,526
)
 
4

Total
$
1,530

 
$
(1,526
)
 
$
4

Three months ended June 30, 2017
 
 
 
 
 
Equity securities
$
1,305

 
$
—

 
$
1,305

Debt securities
145

 
(14
)
 
131

Total
$
1,450

 
$
(14
)
 
$
1,436

 
 
 
 
 
 
Six months ended June 30, 2018
 
 
 
 
 
Equity securities
$
9

 
$
—

 
$
9

Debt securities
1,540

 
(1,526
)
 
14

Total
$
1,549

 
$
(1,526
)
 
$
23

Six months ended June 30, 2017
 
 
 
 
 
Equity securities
$
2,350

 
$
—

 
$
2,350

Debt securities
206

 
(14
)
 
192

Total
$
2,556

 
$
(14
)
 
$
2,542
Gross Unrealized Losses and Fair Values of Investments by Category and Length of Time in Continuous Unrealized Loss Position
The following table presents the gross unrealized losses and estimated fair values of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2018 and December 31, 2017:
 
Less than 12 months
 
12 months or longer
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
June 30, 2018
(in thousands)
U.S. Government sponsored agency securities
$
24,028

 
$
(309
)
 
$
—

 
$
—

 
$
24,028

 
$
(309
)
State and municipal securities
166,323

 
(3,264
)
 
113,946

 
(6,601
)
 
280,269

 
(9,865
)
Corporate debt securities
35,112

 
(220
)
 
22,554

 
(1,582
)
 
57,666

 
(1,802
)
Collateralized mortgage obligations
529,808

 
(10,258
)
 
136,723

 
(8,108
)
 
666,531

 
(18,366
)
Residential mortgage-backed securities
501,230

 
(15,521
)
 
450,713

 
(21,581
)
 
951,943

 
(37,102
)
Commercial mortgage-backed securities
182,155

 
(3,903
)
 
45,352

 
(1,394
)
 
227,507

 
(5,297
)
Auction rate securities
—

 
—

 
103,122

 
(4,288
)
 
103,122

 
(4,288
)
Total
$
1,438,656

 
$
(33,475
)
 
$
872,410

 
$
(43,554
)
 
$
2,311,066

 
$
(77,029
)

 
Less than 12 months
 
12 months or longer
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
December 31, 2017
(in thousands)
U.S. Government sponsored agency securities
$
5,830

 
$
(26
)
 
$
—

 
$
—

 
$
5,830

 
$
(26
)
State and municipal securities
11,650

 
(50
)
 
118,297

 
(2,499
)
 
129,947

 
(2,549
)
Corporate debt securities
4,544

 
(48
)
 
32,163

 
(1,828
)
 
36,707

 
(1,876
)
Collateralized mortgage obligations
303,932

 
(2,408
)
 
187,690

 
(7,387
)
 
491,622

 
(9,795
)
Residential mortgage-backed securities
511,378

 
(4,348
)
 
500,375

 
(10,893
)
 
1,011,753

 
(15,241
)
Commercial mortgage-backed securities
190,985

 
(2,118
)
 
21,770

 
(478
)
 
212,755

 
(2,596
)
Auction rate securities
—

 
—

 
98,668

 
(8,742
)
 
98,668

 
(8,742
)
Total
$
1,028,319

 
$
(8,998
)
 
$
958,963

 
$
(31,827
)
 
$
1,987,282

 
$
(40,825
)
Summary of Amortized Cost and Fair Values of Corporate Debt Securities
The following table presents the amortized cost and estimated fair values of corporate debt securities:
 
June 30, 2018
 
December 31, 2017
 
Amortized
cost
 
Estimated
fair value
 
Amortized
cost
 
Estimated
fair value
 
(in thousands)
Single-issuer trust preferred securities
$
21,779

 
$
20,396

 
$
31,335

 
$
30,703

Subordinated debt
54,649

 
54,534

 
49,013

 
49,533

Senior debt
12,027

 
12,109

 
12,031

 
12,392

Pooled trust preferred securities
—

 
875

 
—

 
707

Corporate debt securities issued by financial institutions
88,455

 
87,914

 
92,379

 
93,335

Other corporate debt securities
3,956

 
3,956

 
3,974

 
3,974

Available for sale corporate debt securities
$
92,411

 
$
91,870

 
$
96,353

 
$
97,309