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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
March 31, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,478

 
$
4,421

 
$
—

 
$
142,899

U.S. government agency securities
8,236

 
16

 
(183
)
 
8,069

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
315,954

 
5,994

 
(2,086
)
 
319,862

Municipal bonds
235,547

 
4,562

 
(133
)
 
239,976

Total obligations of states and political subdivisions
551,501

 
10,556

 
(2,219
)
 
559,838

Residential mortgage-backed securities
1,306,625

 
6,970

 
(21,231
)
 
1,292,364

Trust preferred securities
37,309

 
68

 
(5,776
)
 
31,601

Corporate and other debt securities
32,250

 
144

 
(195
)
 
32,199

Total investment securities held to maturity
$
2,074,399

 
$
22,175

 
$
(29,604
)
 
$
2,066,970

December 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,517

 
$
3,532

 
$
—

 
$
142,049

U.S. government agency securities
8,721

 
55

 
(135
)
 
8,641

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
341,702

 
4,332

 
(5,735
)
 
340,299

Municipal bonds
243,954

 
3,141

 
(1,361
)
 
245,734

Total obligations of states and political subdivisions
585,656

 
7,473

 
(7,096
)
 
586,033

Residential mortgage-backed securities
1,266,770

 
3,203

 
(34,368
)
 
1,235,605

Trust preferred securities
37,332

 
77

 
(5,923
)
 
31,486

Corporate and other debt securities
31,250

 
96

 
(217
)
 
31,129

Total investment securities held to maturity
$
2,068,246

 
$
14,436

 
$
(47,739
)
 
$
2,034,943
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 March 31, 2019 and December 31, 2018 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)
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
—

 
$
—

 
$
5,707

 
$
(183
)
 
$
5,707

 
$
(183
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
—

 
—

 
100,897

 
(2,086
)
 
100,897

 
(2,086
)
Municipal bonds
1,188

 
(20
)
 
15,236

 
(113
)
 
16,424

 
(133
)
Total obligations of states and political subdivisions
1,188

 
(20
)
 
116,133

 
(2,199
)
 
117,321

 
(2,219
)
Residential mortgage-backed securities
13,136

 
(85
)
 
835,504

 
(21,146
)
 
848,640

 
(21,231
)
Trust preferred securities
—

 
—

 
30,180

 
(5,776
)
 
30,180

 
(5,776
)
Corporate and other debt securities
4,947

 
(53
)
 
4,858

 
(142
)
 
9,805

 
(195
)
Total
$
19,271

 
$
(158
)
 
$
992,382

 
$
(29,446
)
 
$
1,011,653

 
$
(29,604
)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
—

 
$
—

 
$
6,074

 
$
(135
)
 
$
6,074

 
$
(135
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
16,098

 
(266
)
 
138,437

 
(5,469
)
 
154,535

 
(5,735
)
Municipal bonds
3,335

 
(37
)
 
60,078

 
(1,324
)
 
63,413

 
(1,361
)
Total obligations of states and political subdivisions
19,433

 
(303
)
 
198,515

 
(6,793
)
 
217,948

 
(7,096
)
Residential mortgage-backed securities
72,240

 
(852
)
 
846,671

 
(33,516
)
 
918,911

 
(34,368
)
Trust preferred securities
—

 
—

 
30,055

 
(5,923
)
 
30,055

 
(5,923
)
Corporate and other debt securities
9,948

 
(52
)
 
4,835

 
(165
)
 
14,783

 
(217
)
Total
$
101,621

 
$
(1,207
)
 
$
1,086,150

 
$
(46,532
)
 
$
1,187,771

 
$
(47,739
)
Contractual Maturities of Debt Securities Held to Maturity The contractual maturities of investments in debt securities held to maturity at March 31, 2019 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.  
 
March 31, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
25,484

 
$
25,583

Due after one year through five years
252,960

 
257,616

Due after five years through ten years
250,865

 
260,318

Due after ten years
238,465

 
231,089

Residential mortgage-backed securities
1,306,625

 
1,292,364

Total investment securities held to maturity
$
2,074,399

 
$
2,066,970
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 March 31, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
March 31, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,969

 
$
—

 
$
(1,115
)
 
$
49,854

U.S. government agency securities
34,734

 
57

 
(238
)
 
34,553

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
97,111

 
189

 
(2,840
)
 
94,460

Municipal bonds
99,286

 
500

 
(296
)
 
99,490

Total obligations of states and political subdivisions
196,397

 
689

 
(3,136
)
 
193,950

Residential mortgage-backed securities
1,429,847

 
3,093

 
(23,324
)
 
1,409,616

Corporate and other debt securities
35,410

 
102

 
(379
)
 
35,133

Total investment securities available for sale
$
1,747,357

 
$
3,941

 
$
(28,192
)
 
$
1,723,106

December 31, 2018
 
 
 
 
 
 
 
U.S. Treasury securities
$
50,975

 
$
—

 
$
(1,669
)
 
$
49,306

U.S. government agency securities
36,844

 
71

 
(638
)
 
36,277

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
100,777

 
18

 
(3,682
)
 
97,113

Municipal bonds
101,207

 
209

 
(1,437
)
 
99,979

Total obligations of states and political subdivisions
201,984

 
227

 
(5,119
)
 
197,092

Residential mortgage-backed securities
1,469,059

 
1,484

 
(40,761
)
 
1,429,782

Corporate and other debt securities
37,542

 
213

 
(668
)
 
37,087

Total investment securities available for sale
$
1,796,404

 
$
1,995

 
$
(48,855
)
 
$
1,749,544
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 March 31, 2019 and December 31, 2018 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)
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
—

 
$
—

 
$
49,852

 
$
(1,115
)
 
$
49,852

 
$
(1,115
)
U.S. government agency securities
—

 
—

 
27,180

 
(238
)
 
27,180

 
(238
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
1,549

 
(2
)
 
65,205

 
(2,838
)
 
66,754

 
(2,840
)
Municipal bonds
1,624

 
(47
)
 
40,689

 
(249
)
 
42,313

 
(296
)
Total obligations of states and political subdivisions
3,173

 
(49
)
 
105,894

 
(3,087
)
 
109,067

 
(3,136
)
Residential mortgage-backed securities
24,221

 
(98
)
 
1,163,750

 
(23,226
)
 
1,187,971

 
(23,324
)
Corporate and other debt securities
7,394

 
(106
)
 
14,642

 
(273
)
 
22,036

 
(379
)
Total
$
34,788

 
$
(253
)
 
$
1,361,318

 
$
(27,939
)
 
$
1,396,106

 
$
(28,192
)
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
—

 
$
—

 
$
49,306

 
$
(1,669
)
 
$
49,306

 
$
(1,669
)
U.S. government agency securities
2,120

 
(20
)
 
26,775

 
(618
)
 
28,895

 
(638
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
17,560

 
(95
)
 
75,718

 
(3,587
)
 
93,278

 
(3,682
)
Municipal bonds
5,018

 
(106
)
 
70,286

 
(1,331
)
 
75,304

 
(1,437
)
Total obligations of states and political subdivisions
22,578

 
(201
)
 
146,004

 
(4,918
)
 
168,582

 
(5,119
)
Residential mortgage-backed securities
119,645

 
(668
)
 
1,221,942

 
(40,093
)
 
1,341,587

 
(40,761
)
Corporate and other debt securities
12,339

 
(161
)
 
12,397

 
(507
)
 
24,736

 
(668
)
Total
$
156,682

 
$
(1,050
)
 
$
1,456,424

 
$
(47,805
)
 
$
1,613,106

 
$
(48,855
)
Contractual Maturities of Debt Securities Available for Sale The contractual maturities of debt securities available for sale at March 31, 2019 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.
 
March 31, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
5,705

 
$
5,692

Due after one year through five years
127,911

 
126,534

Due after five years through ten years
72,288

 
70,620

Due after ten years
111,606

 
110,644

Residential mortgage-backed securities
1,429,847

 
1,409,616

Total investment securities available for sale
$
1,747,357

 
$
1,723,106