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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of securities held to maturity at September 30, 2018 and December 31, 2017 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
September 30, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,557

 
$
1,853

 
$
(141
)
 
$
140,269

U.S. government agency securities
8,846

 
—

 
(305
)
 
8,541

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
347,775

 
3,717

 
(6,970
)
 
344,522

Municipal bonds
248,585

 
2,561

 
(2,245
)
 
248,901

Total obligations of states and political subdivisions
596,360

 
6,278

 
(9,215
)
 
593,423

Residential mortgage-backed securities
1,259,772

 
1,573

 
(49,589
)
 
1,211,756

Trust preferred securities
37,328

 
38

 
(6,213
)
 
31,153

Corporate and other debt securities
31,500

 
47

 
(335
)
 
31,212

Total investment securities held to maturity
$
2,072,363

 
$
9,789

 
$
(65,798
)
 
$
2,016,354

December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,676

 
$
6,581

 
$
—

 
$
145,257

U.S. government agency securities
9,859

 
122

 
—

 
9,981

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
244,272

 
7,083

 
(1,653
)
 
249,702

Municipal bonds
221,606

 
6,199

 
(28
)
 
227,777

Total obligations of states and political subdivisions
465,878

 
13,282

 
(1,681
)
 
477,479

Residential mortgage-backed securities
1,131,945

 
4,842

 
(18,743
)
 
1,118,044

Trust preferred securities
49,824

 
60

 
(9,796
)
 
40,088

Corporate and other debt securities
46,509

 
532

 
(270
)
 
46,771

Total investment securities held to maturity
$
1,842,691

 
$
25,419

 
$
(30,490
)
 
$
1,837,620
Age of Unrealized Losses and Fair Value of Related Securities Held to Maturity
The age of unrealized losses and fair value of related securities held to maturity at September 30, 2018 and December 31, 2017 were as follows: 
 
Less than
Twelve Months
 
More than
Twelve Months
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
(in thousands)
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
34,660

 
$
(141
)
 
$
—

 
$
—

 
$
34,660

 
$
(141
)
U.S. government agency securities
8,541

 
(305
)
 
—

 
—

 
8,541

 
(305
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
129,321

 
(3,414
)
 
48,862

 
(3,556
)
 
178,183

 
(6,970
)
Municipal bonds
89,065

 
(2,208
)
 
528

 
(37
)
 
89,593

 
(2,245
)
Total obligations of states and political subdivisions
218,386

 
(5,622
)
 
49,390

 
(3,593
)
 
267,776

 
(9,215
)
Residential mortgage-backed securities
467,711

 
(9,928
)
 
662,345

 
(39,661
)
 
1,130,056

 
(49,589
)
Trust preferred securities
—

 
—

 
29,761

 
(6,213
)
 
29,761

 
(6,213
)
Corporate and other debt securities
15,386

 
(114
)
 
4,779

 
(221
)
 
20,165

 
(335
)
Total
$
744,684

 
$
(16,110
)
 
$
746,275

 
$
(49,688
)
 
$
1,490,959

 
$
(65,798
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
$
6,342

 
$
(50
)
 
$
53,034

 
$
(1,603
)
 
$
59,376

 
$
(1,653
)
Municipal bonds
4,644

 
(25
)
 
561

 
(3
)
 
5,205

 
(28
)
Total obligations of states and political subdivisions
10,986

 
(75
)
 
53,595

 
(1,606
)
 
64,581

 
(1,681
)
Residential mortgage-backed securities
344,216

 
(2,357
)
 
570,969

 
(16,386
)
 
915,185

 
(18,743
)
Trust preferred securities
—

 
—

 
38,674

 
(9,796
)
 
38,674

 
(9,796
)
Corporate and other debt securities
9,980

 
(270
)
 
—

 
—

 
9,980

 
(270
)
Total
$
365,182

 
$
(2,702
)
 
$
663,238

 
$
(27,788
)
 
$
1,028,420

 
$
(30,490
)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in debt securities held to maturity at September 30, 2018 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.  
 
September 30, 2018
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
21,825

 
$
21,850

Due after one year through five years
231,676

 
233,954

Due after five years through ten years
295,711

 
300,013

Due after ten years
263,379

 
248,781

Residential mortgage-backed securities
1,259,772

 
1,211,756

Total investment securities held to maturity
$
2,072,363

 
$
2,016,354
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available for sale at September 30, 2018 and December 31, 2017 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
September 30, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,980

 
$
—

 
$
(2,617
)
 
$
48,363

U.S. government agency securities
37,618

 
67

 
(1,172
)
 
36,513

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
106,881

 
41

 
(3,344
)
 
103,578

Municipal bonds
103,631

 
137

 
(2,109
)
 
101,659

Total obligations of states and political subdivisions
210,512

 
178

 
(5,453
)
 
205,237

Residential mortgage-backed securities
1,470,565

 
1,304

 
(59,020
)
 
1,412,849

Trust preferred securities
1,789

 
—

 
(199
)
 
1,590

Corporate and other debt securities
45,063

 
134

 
(748
)
 
44,449

Total investment securities available for sale
$
1,816,527

 
$
1,683

 
$
(69,209
)
 
$
1,749,001

December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,997

 
$
—

 
$
(1,355
)
 
$
49,642

U.S. government agency securities
42,384

 
158

 
(37
)
 
42,505

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
38,435

 
158

 
(374
)
 
38,219

Municipal bonds
74,752

 
477

 
(564
)
 
74,665

Total obligations of states and political subdivisions
113,187

 
635

 
(938
)
 
112,884

Residential mortgage-backed securities
1,239,534

 
2,423

 
(18,662
)
 
1,223,295

Trust preferred securities
3,726

 
—

 
(512
)
 
3,214

Corporate and other debt securities
50,701

 
623

 
(160
)
 
51,164

Equity securities
10,505

 
1,190

 
(494
)
 
11,201

Total investment securities available for sale
$
1,511,034

 
$
5,029

 
$
(22,158
)
 
$
1,493,905
Age of Unrealized Losses and Fair Value of Related Securities Available for Sale
The age of unrealized losses and fair value of related securities available for sale at September 30, 2018 and December 31, 2017 were as follows: 
 
Less than
Twelve Months
 
More than
Twelve Months
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(in thousands)
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
897

 
$
(16
)
 
$
47,467

 
$
(2,601
)
 
$
48,364

 
$
(2,617
)
U.S. government agency securities
5,502

 
(77
)
 
23,561

 
(1,095
)
 
29,063

 
(1,172
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
86,962

 
(2,850
)
 
12,297

 
(494
)
 
99,259

 
(3,344
)
Municipal bonds
58,259

 
(1,205
)
 
22,850

 
(904
)
 
81,109

 
(2,109
)
Total obligations of states and political subdivisions
145,221

 
(4,055
)
 
35,147

 
(1,398
)
 
180,368

 
(5,453
)
Residential mortgage-backed securities
667,551

 
(19,418
)
 
723,522

 
(39,602
)
 
1,391,073

 
(59,020
)
Trust preferred securities
—

 
—

 
1,590

 
(199
)
 
1,590

 
(199
)
Corporate and other debt securities
21,317

 
(319
)
 
10,473

 
(429
)
 
31,790

 
(748
)
Total
$
840,488

 
$
(23,885
)
 
$
841,760

 
$
(45,324
)
 
$
1,682,248

 
$
(69,209
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
916

 
$
(2
)
 
$
48,726

 
$
(1,353
)
 
$
49,642

 
$
(1,355
)
U.S. government agency securities
31,177

 
(37
)
 
—

 
—

 
31,177

 
(37
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
13,337

 
(131
)
 
7,792

 
(243
)
 
21,129

 
(374
)
Municipal bonds
31,669

 
(256
)
 
12,133

 
(308
)
 
43,802

 
(564
)
Total obligations of states and political subdivisions
45,006

 
(387
)
 
19,925

 
(551
)
 
64,931

 
(938
)
Residential mortgage-backed securities
406,940

 
(2,461
)
 
599,167

 
(16,201
)
 
1,006,107

 
(18,662
)
Trust preferred securities
—

 
—

 
3,214

 
(512
)
 
3,214

 
(512
)
Corporate and other debt securities
5,855

 
(45
)
 
15,115

 
(115
)
 
20,970

 
(160
)
Equity securities
—

 
—

 
5,150

 
(494
)
 
5,150

 
(494
)
Total
$
489,894

 
$
(2,932
)
 
$
691,297

 
$
(19,226
)
 
$
1,181,191

 
$
(22,158
)
Contractual Maturities of Debt Securities Available for Sale
The contractual maturities of debt securities available for sale at September 30, 2018 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 
September 30, 2018
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
9,831

 
$
9,893

Due after one year through five years
128,006

 
123,837

Due after five years through ten years
78,226

 
77,112

Due after ten years
129,899

 
125,310

Residential mortgage-backed securities
1,470,565

 
1,412,849

Total investment securities available for sale
$
1,816,527

 
$
1,749,001