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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
September 30, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
138,393

 
$
6,479

 
$
—

 
$
144,872

U.S. government agency securities
7,462

 
93

 
(2
)
 
7,553

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

 
7,885

 
(585
)
 
312,429

Municipal bonds
212,301

 
5,777

 
(25
)
 
218,053

Total obligations of states and political subdivisions
517,430

 
13,662

 
(610
)
 
530,482

Residential mortgage-backed securities
1,360,903

 
17,687

 
(3,765
)
 
1,374,825

Trust preferred securities
37,319

 
53

 
(6,475
)
 
30,897

Corporate and other debt securities
32,250

 
430

 
(106
)
 
32,574

Total investment securities held to maturity
$
2,093,757

 
$
38,404

 
$
(10,958
)
 
$
2,121,203

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 September 30, 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)
September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
2,093

 
$
(2
)
 
$
—

 
$
—

 
$
2,093

 
$
(2
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
11,459

 
(45
)
 
35,927

 
(540
)
 
47,386

 
(585
)
Municipal bonds
4,379

 
(9
)
 
784

 
(16
)
 
5,163

 
(25
)
Total obligations of states and political subdivisions
15,838

 
(54
)
 
36,711

 
(556
)
 
52,549

 
(610
)
Residential mortgage-backed securities
117,588

 
(171
)
 
319,039

 
(3,594
)
 
436,627

 
(3,765
)
Trust preferred securities
—

 
—

 
29,491

 
(6,475
)
 
29,491

 
(6,475
)
Corporate and other debt securities
6,696

 
(54
)
 
4,947

 
(52
)
 
11,643

 
(106
)
Total
$
142,215

 
$
(281
)
 
$
390,188

 
$
(10,677
)
 
$
532,403

 
$
(10,958
)
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 September 30, 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.  
 
September 30, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
23,737

 
$
23,760

Due after one year through five years
247,505

 
254,040

Due after five years through ten years
220,403

 
230,852

Due after ten years
241,209

 
237,726

Residential mortgage-backed securities
1,360,903

 
1,374,825

Total investment securities held to maturity
$
2,093,757

 
$
2,121,203
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, 2019 and December 31, 2018 were as follows: 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(in thousands)
September 30, 2019
 
 
 
 
 
 
 
U.S. Treasury securities
$
70,947

 
$
27

 
$
(9
)
 
$
70,965

U.S. government agency securities
29,479

 
579

 
(21
)
 
30,037

Obligations of states and political subdivisions:
 
 
 
 
 
 
 
Obligations of states and state agencies
83,794

 
510

 
(83
)
 
84,221

Municipal bonds
95,381

 
1,019

 
(154
)
 
96,246

Total obligations of states and political subdivisions
179,175

 
1,529

 
(237
)
 
180,467

Residential mortgage-backed securities
1,300,050

 
14,191

 
(3,654
)
 
1,310,587

Corporate and other debt securities
35,422

 
584

 
—

 
36,006

Total investment securities available for sale
$
1,615,073

 
$
16,910

 
$
(3,921
)
 
$
1,628,062

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 September 30, 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)
September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
25,940

 
$
(9
)
 
$
—

 
$
—

 
$
25,940

 
$
(9
)
U.S. government agency securities
—

 
—

 
2,131

 
(21
)
 
2,131

 
(21
)
Obligations of states and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and state agencies
21,181

 
(11
)
 
10,270

 
(72
)
 
31,451

 
(83
)
Municipal bonds
2,226

 
(29
)
 
15,301

 
(125
)
 
17,527

 
(154
)
Total obligations of states and political subdivisions
23,407

 
(40
)
 
25,571

 
(197
)
 
48,978

 
(237
)
Residential mortgage-backed securities
96,615

 
(256
)
 
303,880

 
(3,398
)
 
400,495

 
(3,654
)
Total
$
145,962

 
$
(305
)
 
$
331,582

 
$
(3,616
)
 
$
477,544

 
$
(3,921
)
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 September 30, 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.
 
September 30, 2019
 
Amortized
Cost
 
Fair
Value
 
(in thousands)
Due in one year
$
37,985

 
$
38,025

Due after one year through five years
114,646

 
115,107

Due after five years through ten years
65,745

 
66,839

Due after ten years
96,647

 
97,504

Residential mortgage-backed securities
1,300,050

 
1,310,587

Total investment securities available for sale
$
1,615,073

 
$
1,628,062