Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Securities Available for Sale

The amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity at December 31, 2018 and December 31, 2017 are summarized as follows:

	December 31, 2018
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Debt Securities Available for Sale
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	7,200	$	106	$	(6	)	$	7,300
Mortgage-backed securities and collateralized mortgage obligations of US Government Sponsored Entities	567,753		300		(14,047		)	554,006
Private mortgage-backed securities and collateralized mortgage obligations	55,569		560		(401		)	55,728
Collateralized loan obligations	212,807		1		(3,442		)	209,366
Obligations of state and political subdivisions	39,543		339		(451		)	39,431
	$	882,872	$	1,306	$	(18,347	)	$	865,831
Debt Securities Held to Maturity
Mortgage-backed securities of U.S. Government Sponsored Entities	$	304,423	$	—	$	(7,324	)	$	297,099
Private mortgage-backed securities and collateralized mortgage obligations	21,526		277		(130		)	21,673
Collateralized loan obligations	32,000		—		(877		)	31,123
	$	357,949	$	277	$	(8,331	)	$	349,895

	December 31, 2017
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Debt Securities Available for Sale
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	9,475	$	274	$	(5	)	$	9,744
Mortgage-backed securities and collateralized mortgage obligations of US Government Sponsored Entities	560,396		1,163		(8,034		)	553,525
Private mortgage-backed securities and collateralized mortgage obligations	75,152		1,154		(285		)	76,021
Collateralized loan obligations	263,579		798		(68		)	264,309
Obligations of state and political subdivisions	45,118		813		(70		)	45,861
	$	953,720	$	4,202	$	(8,462	)	$	949,460
Debt Securities Held to Maturity
Mortgage-backed securities of U.S. Government Sponsored Entities	$	353,541	$	802	$	(4,159	)	$	350,184
Private mortgage-backed securities and collateralized mortgage obligations	22,799		714		(53		)	23,460
Collateralized loan obligations	40,523		303		—			40,826
	$	416,863	$	1,819	$	(4,212	)	$	414,470

Summary of Amortized Cost and Fair Value of Securities Held to Maturity

The amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity at December 31, 2018 and December 31, 2017 are summarized as follows:

	December 31, 2018
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Debt Securities Available for Sale
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	7,200	$	106	$	(6	)	$	7,300
Mortgage-backed securities and collateralized mortgage obligations of US Government Sponsored Entities	567,753		300		(14,047		)	554,006
Private mortgage-backed securities and collateralized mortgage obligations	55,569		560		(401		)	55,728
Collateralized loan obligations	212,807		1		(3,442		)	209,366
Obligations of state and political subdivisions	39,543		339		(451		)	39,431
	$	882,872	$	1,306	$	(18,347	)	$	865,831
Debt Securities Held to Maturity
Mortgage-backed securities of U.S. Government Sponsored Entities	$	304,423	$	—	$	(7,324	)	$	297,099
Private mortgage-backed securities and collateralized mortgage obligations	21,526		277		(130		)	21,673
Collateralized loan obligations	32,000		—		(877		)	31,123
	$	357,949	$	277	$	(8,331	)	$	349,895

	December 31, 2017
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Debt Securities Available for Sale
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	9,475	$	274	$	(5	)	$	9,744
Mortgage-backed securities and collateralized mortgage obligations of US Government Sponsored Entities	560,396		1,163		(8,034		)	553,525
Private mortgage-backed securities and collateralized mortgage obligations	75,152		1,154		(285		)	76,021
Collateralized loan obligations	263,579		798		(68		)	264,309
Obligations of state and political subdivisions	45,118		813		(70		)	45,861
	$	953,720	$	4,202	$	(8,462	)	$	949,460
Debt Securities Held to Maturity
Mortgage-backed securities of U.S. Government Sponsored Entities	$	353,541	$	802	$	(4,159	)	$	350,184
Private mortgage-backed securities and collateralized mortgage obligations	22,799		714		(53		)	23,460
Collateralized loan obligations	40,523		303		—			40,826
	$	416,863	$	1,819	$	(4,212	)	$	414,470

Securities not due at a single maturity date are shown separately.

	Held to Maturity				Available for Sale
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	—	$	—	$	12,190	$	12,131
Due after one year through five years	—		—		88,402		87,808
Due after five years through ten years	32,000		31,123		155,493		152,707
Due after ten years	—				3,465		3,451
	32,000		31,123		259,550		256,097
Mortgage-backed securities of U.S. Government Sponsored Entities	304,423		297,099		567,753		554,006
Private mortgage-backed securities and collateralized mortgage obligations	21,526		21,673		55,569		55,728
	$	357,949	$	349,895	$	882,872	$	865,831

Summary of Investments Classified by Contractual Maturity

Securities not due at a single maturity date are shown separately.

	Held to Maturity				Available for Sale
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	—	$	—	$	12,190	$	12,131
Due after one year through five years	—		—		88,402		87,808
Due after five years through ten years	32,000		31,123		155,493		152,707
Due after ten years	—				3,465		3,451
	32,000		31,123		259,550		256,097
Mortgage-backed securities of U.S. Government Sponsored Entities	304,423		297,099		567,753		554,006
Private mortgage-backed securities and collateralized mortgage obligations	21,526		21,673		55,569		55,728
	$	357,949	$	349,895	$	882,872	$	865,831

Schedule of Unrealized Loss and Fair Value on Investments

The tables below indicate the fair value of debt securities with unrealized losses and the period of time for which these losses were outstanding at December 31, 2018 and December 31, 2017, respectively.

	December 31, 2018
	Less than 12 months					12 months or longer					Total
(In thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	99	$	(1	)	$	642	$	(5	)	$	741	$	(6	)
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities	200,184		(2,235		)	623,420		(19,136		)	823,604		(21,371		)
Private mortgage-backed securities and collateralized mortgage obligations	20,071		(344		)	12,739		(187		)	32,810		(531		)
Collateralized loan obligations	238,894		(4,319		)	—		—			238,894		(4,319		)
Obligations of state and political subdivisions	19,175		(241		)	9,553		(210		)	28,728		(451		)
Total temporarily impaired securities	$	478,423	$	(7,140	)	$	646,354	$	(19,538	)	$	1,124,777	$	(26,678	)

	December 31, 2017
	Less than 12 months					12 months or longer					Total
(In thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	1,107	$	(5	)	$	—	$	—		$	1,107	$	(5	)
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities	304,723		(2,047		)	413,725		(10,146		)	718,448		(12,193		)
Private mortgage-backed securities and collateralized mortgage obligations	—		—			20,744		(338		)	20,744		(338		)
Collateralized loan obligations	14,933		(68		)	—		—			14,933		(68		)
Obligations of state and political subdivisions	5,414		(14		)	5,864		(56		)	11,278		(70		)
Total temporarily impaired securities	$	326,177	$	(2,134	)	$	440,333	$	(10,540	)	$	766,510	$	(12,674	)