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Securities (Tables)
 3 Months Ended
Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 are summarized as follows:
 
 
March 31, 2019
(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
$
6,296

 
$
105

 
$
(4
)
 
$
6,397

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
528,404

 
1,777

 
(6,228
)
 
523,953

Private mortgage-backed securities and collateralized mortgage obligations
67,206

 
968

 
(239
)
 
67,935

Collateralized loan obligations
243,546

 
2

 
(1,809
)
 
241,739

Obligations of state and political subdivisions
37,105

 
621

 
(201
)
 
37,525

Totals
$
882,557

 
$
3,473


$
(8,481
)

$
877,549

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. Government Sponsored Entities
$
295,485

 
$
356

 
$
(4,501
)
 
$
291,340

Totals
$
295,485


$
356


$
(4,501
)

$
291,340

 
 
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 U.S. 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

Totals
$
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

Totals
$
357,949

 
$
277

 
$
(8,331
)
 
$
349,895
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity at March 31, 2019 and December 31, 2018 are summarized as follows:
 
 
March 31, 2019
(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
$
6,296

 
$
105

 
$
(4
)
 
$
6,397

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
528,404

 
1,777

 
(6,228
)
 
523,953

Private mortgage-backed securities and collateralized mortgage obligations
67,206

 
968

 
(239
)
 
67,935

Collateralized loan obligations
243,546

 
2

 
(1,809
)
 
241,739

Obligations of state and political subdivisions
37,105

 
621

 
(201
)
 
37,525

Totals
$
882,557

 
$
3,473


$
(8,481
)

$
877,549

 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. Government Sponsored Entities
$
295,485

 
$
356

 
$
(4,501
)
 
$
291,340

Totals
$
295,485


$
356


$
(4,501
)

$
291,340

 
 
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 U.S. 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

Totals
$
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

Totals
$
357,949

 
$
277

 
$
(8,331
)
 
$
349,895
Summary of Investments Classified by Contractual Maturity
The amortized cost and fair value of debt securities held to maturity and available for sale at March 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. 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
$
—

 
$
—

 
$
11,288

 
$
11,268

Due after one year through five years
—

 
—

 
102,835

 
102,588

Due after five years through ten years
—

 
—

 
169,369

 
168,212

Due after ten years
—

 
—

 
3,455

 
3,593

 
—

 
—

 
286,947

 
285,661

Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
295,485

 
291,340

 
528,404

 
523,953

Private mortgage-backed securities and collateralized mortgage obligations
—

 
—

 
67,206

 
67,935

   Totals
$
295,485

 
$
291,340

 
$
882,557

 
$
877,549
Schedule of Debt Securities in Unrealized Loss Position
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 March 31, 2019 and December 31, 2018, respectively.
 
 
March 31, 2019
 
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
$
—

 
—

 
$
545

 
$
(4
)
 
$
545

 
$
(4
)
Mortgage-backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities
80,889

 
(512
)
 
496,722

 
(10,217
)
 
577,611

 
(10,729
)
Private mortgage-backed securities and collateralized mortgage obligations
20,061

 
(230
)
 
2,038

 
(9
)
 
22,099

 
(239
)
Collateralized loan obligations
238,777

 
(1,809
)
 
—

 
—

 
238,777

 
(1,809
)
Obligations of state and political subdivisions
—

 
—

 
12,966

 
(201
)
 
12,966

 
(201
)
   Totals
$
339,727

 
$
(2,551
)
 
$
512,271

 
$
(10,431
)
 
$
851,998

 
$
(12,982
)
 
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
)
   Totals
$
478,423

 
$
(7,140
)
 
$
646,354

 
$
(19,538
)
 
$
1,124,777

 
$
(26,678
)