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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of investment securities available for sale at December 31, 2020 and 2019 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
 (in thousands)
December 31, 2020
U.S. Treasury securities$50,031 $1,362 $— $51,393 
U.S. government agency securities25,067 1,103 (13)26,157 
Obligations of states and political subdivisions:
Obligations of states and state agencies40,861 970 (32)41,799 
Municipal bonds37,489 731 (69)38,151 
Total obligations of states and political subdivisions78,350 1,701 (101)79,950 
Residential mortgage-backed securities1,050,369 40,426 (773)1,090,022 
Corporate and other debt securities89,689 2,294 (32)91,951 
Total investment securities available for sale$1,293,506 $46,886 $(919)$1,339,473 
December 31, 2019
U.S. Treasury securities$50,952 $12 $(21)$50,943 
U.S. government agency securities28,982 280 (19)29,243 
Obligations of states and political subdivisions:
Obligations of states and state agencies78,116 540 (83)78,573 
Municipal bonds90,662 902 (86)91,478 
Total obligations of states and political subdivisions168,778 1,442 (169)170,051 
Residential mortgage-backed securities1,248,814 11,234 (5,262)1,254,786 
Corporate and other debt securities61,261 628 (111)61,778 
Total investment securities available for sale$1,558,787 $13,596 $(5,582)$1,566,801 
Age of Unrealized Losses and Fair Value of Related Securities
The age of unrealized losses and fair value of related securities available for sale at December 31, 2020 and 2019 were as follows: 
 Less than
Twelve Months		More than
Twelve Months		Total
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
 (in thousands)
December 31, 2020
U.S. government agency securities
$— $— $1,479 $(13)$1,479 $(13)
Obligations of states and political subdivisions:
Obligations of states and state agencies
— — 1,010 (32)1,010 (32)
Municipal bonds6,777 (69)— — 6,777 (69)
Total obligations of states and political subdivisions
6,777 (69)1,010 (32)7,787 (101)
Residential mortgage-backed securities
41,418 (500)27,911 (273)69,329 (773)
Corporate and other debt securities
12,517 (32)— — 12,517 (32)
Total$60,712 $(601)$30,400 $(318)$91,112 $(919)
December 31, 2019
U.S. Treasury securities$25,019 $(21)$— $— $25,019 $(21)
U.S. government agency securities
— — 1,783 (19)1,783 (19)
Obligations of states and political subdivisions:
Obligations of states and state agencies
18,540 (21)8,755 (62)27,295 (83)
Municipal bonds— — 13,177 (86)13,177 (86)
Total obligations of states and political subdivisions
18,540 (21)21,932 (148)40,472 (169)
Residential mortgage-backed securities
240,412 (1,194)282,798 (4,068)523,210 (5,262)
Corporate and other debt securities
5,139 (111)— — 5,139 (111)
Total$289,110 $(1,347)$306,513 $(4,235)$595,623 $(5,582)
Contractual Maturities of Investments Securities Available for Sale
The contractual maturities of available for sale debt securities at December 31, 2020 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. 
 December 31, 2020
Amortized CostFair Value
 (in thousands)
Due in one year$14,553 $14,555 
Due after one year through five years82,656 85,179 
Due after five years through ten years92,674 94,629 
Due after ten years53,254 55,088 
Residential mortgage-backed securities1,050,369 1,090,022 
Total investment securities available for sale$1,293,506 $1,339,473 
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Investment Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of investment debt securities held to maturity at December 31, 2020 and 2019 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
 (in thousands)
December 31, 2020
U.S. Treasury securities$68,126 $7,358 $— $75,484 
U.S. government agency securities6,222 291 — 6,513 
Obligations of states and political subdivisions:
Obligations of states and state agencies262,762 8,060 (105)270,717 
Municipal bonds207,497 6,292 — 213,789 
Total obligations of states and political subdivisions
470,259 14,352 (105)484,506 
Residential mortgage-backed securities1,550,306 39,603 (254)1,589,655 
Trust preferred securities37,348 50 (7,365)30,033 
Corporate and other debt securities40,750 672 (1)41,421 
Total investment securities held to maturity$2,173,011 $62,326 $(7,725)$2,227,612 
December 31, 2019
U.S. Treasury securities$138,352 $5,761 $— $144,113 
U.S. government agency securities7,345 58 (41)7,362 
Obligations of states and political subdivisions:
Obligations of states and state agencies297,454 7,745 (529)304,670 
Municipal bonds203,251 5,696 (10)208,937 
Total obligations of states and political subdivisions
500,705 13,441 (539)513,607 
Residential mortgage-backed securities1,620,119 14,803 (5,350)1,629,572 
Trust preferred securities37,324 39 (5,981)31,382 
Corporate and other debt securities32,250 454 (20)32,684 
Total investment securities held to maturity$2,336,095 $34,556 $(11,931)$2,358,720 
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 December 31, 2020 and 2019 were as follows: 
 Less than
Twelve Months		More than
Twelve Months		Total
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
 (in thousands)
December 31, 2020
Obligations of states and political subdivisions$5,546 $(105)$— $— $5,546 $(105)
Residential mortgage-backed securities
21,599 (245)2,470 (9)24,069 (254)
Trust preferred securities— — 28,630 (7,365)28,630 (7,365)
Corporate and other debt securities10,749 (1)— — 10,749 (1)
Total$37,894 $(351)$31,100 $(7,374)$68,994 $(7,725)
December 31, 2019
U.S. government agency securities$5,183 $(41)$— $— $5,183 $(41)
Obligations of states and political subdivisions:
Obligations of states and state agencies
11,178 (55)32,397 (474)43,575 (529)
Municipal bonds— — 798 (10)798 (10)
Total obligations of states and political subdivisions
11,178 (55)33,195 (484)44,373 (539)
Residential mortgage-backed securities
307,885 (1,387)254,915 (3,963)562,800 (5,350)
Trust preferred securities— — 29,990 (5,981)29,990 (5,981)
Corporate and other debt securities— — 4,980 (20)4,980 (20)
Total$324,246 $(1,483)$323,080 $(10,448)$647,326 $(11,931)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in debt securities held to maturity at December 31, 2020 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. 
 December 31, 2020
 Amortized CostFair Value
 (in thousands)
Due in one year$28,174 $28,290 
Due after one year through five years234,392 246,981 
Due after five years through ten years150,859 154,904 
Due after ten years209,280 207,782 
Residential mortgage-backed securities1,550,306 1,589,655 
Total investment securities held to maturity$2,173,011 $2,227,612 
Amortized Cost of Debt Securities Held to Maturity by External Credit Rating The following table summarizes the amortized cost of held to maturity debt securities by external credit rating at December 31, 2020 and 2019.
AAA/AA/A RatedBBB ratedNon-investment grade ratedNon-ratedTotal
 (in thousands)
December 31, 2020
U.S. Treasury securities$68,126 $— $— $— $68,126 
U.S. government agency securities6,222 — — — 6,222 
Obligations of states and political subdivisions:
Obligations of states and state agencies228,286 — 5,650 28,826 262,762 
Municipal bonds166,408 — — 41,089 207,497 
Total obligations of states and political subdivisions
394,694 — 5,650 69,915 470,259 
Residential mortgage-backed securities1,550,306 — — — 1,550,306 
Trust preferred securities— — — 37,348 37,348 
Corporate and other debt securities— 5,000 — 35,750 40,750 
Total investment securities held to maturity$2,019,348 $5,000 $5,650 $143,013 $2,173,011 
December 31, 2019
U.S. Treasury securities$138,352 $— $— $— $138,352 
U.S. government agency securities7,345 — — — 7,345 
Obligations of states and political subdivisions:
Obligations of states and state agencies248,533 5,722 — 43,199 297,454 
Municipal bonds202,642 — — 609 203,251 
Total obligations of states and political subdivisions
451,175 5,722 — 43,808 500,705 
Residential mortgage-backed securities1,620,119 — — — 1,620,119 
Trust preferred securities— — — 37,324 37,324 
Corporate and other debt securities— 5,000 — 27,250 32,250 
Total investment securities held to maturity$2,216,991 $10,722 $— $108,382 $2,336,095 
Realized Gains and Losses
Gross gains and losses realized on sales, maturities and other securities transactions included in earnings for the years ended December 31, 2020, 2019 and 2018 were as follows:
202020192018
 (in thousands)
Sales transactions:
Gross gains
$665 $— $1,769 
Gross losses(9)— (3,881)
$656 $— $(2,112)
Maturities and other securities transactions:
Gross gains
$34 $67 $42 
Gross losses(166)(217)(272)
$(132)$(150)$(230)
Net gains (losses) on securities transactions$524 $(150)$(2,342)