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Securities (Tables)
3 Months Ended
Mar. 31, 2018
Gain (Loss) on Investments [Line Items]  
Amortized Cost and Fair Value of Securities Available for Sale



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

March 31, 2018

 

December 31, 2017



 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 



 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair



 

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

U.S. Treasury and government agency securities

 

$

97,431 

 

 

 —

 

 

3,547 

 

 

93,884 

 

$

99,535 

 

$

 —

 

$

2,263 

 

$

97,272 

Municipal obligations

 

 

245,164 

 

 

211 

 

 

8,084 

 

 

237,291 

 

 

245,997 

 

 

1,135 

 

 

3,346 

 

 

243,786 

Residential mortgage-backed securities

 

 

1,787,382 

 

 

3,552 

 

 

47,391 

 

 

1,743,543 

 

 

1,729,989 

 

 

5,611 

 

 

20,387 

 

 

1,715,213 

Commercial mortgage-backed securities

 

 

715,360 

 

 

 —

 

 

35,088 

 

 

680,272 

 

 

704,518 

 

 

480 

 

 

17,863 

 

 

687,135 

Collateralized mortgage obligations

 

 

158,114 

 

 

 —

 

 

2,956 

 

 

155,158 

 

 

165,518 

 

 

 

 

1,559 

 

 

163,963 

Corporate debt securities

 

 

5,500 

 

 

 —

 

 

 —

 

 

5,500 

 

 

3,500 

 

 

 —

 

 

 —

 

 

3,500 



 

$

3,008,951 

 

$

3,763 

 

$

97,066 

 

$

2,915,648 

 

$

2,949,057 

 

$

7,230 

 

$

45,418 

 

$

2,910,869 



Amortized Cost and Fair Value of Securities Held to Maturity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

March 31, 2018

 

December 31, 2017



 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 



 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair



 

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

U.S. Treasury and government agency securities

 

$

50,000 

 

 

 —

 

 

576 

 

 

49,424 

 

$

50,000 

 

$

 —

 

$

289 

 

$

49,711 

Municipal obligations

 

 

707,581 

 

 

1,315 

 

 

13,453 

 

 

695,443 

 

 

723,094 

 

 

8,323 

 

 

4,245 

 

 

727,172 

Residential mortgage-backed securities

 

 

695,655 

 

 

721 

 

 

10,624 

 

 

685,752 

 

 

725,748 

 

 

4,175 

 

 

2,690 

 

 

727,233 

Commercial mortgage-backed securities

 

 

316,966 

 

 

 —

 

 

11,400 

 

 

305,566 

 

 

317,185 

 

 

40 

 

 

3,915 

 

 

313,310 

Collateralized mortgage obligations

 

 

1,244,226 

 

 

391 

 

 

28,507 

 

 

1,216,110 

 

 

1,161,484 

 

 

572 

 

 

17,472 

 

 

1,144,584 



 

$

3,014,428 

 

$

2,427 

 

$

64,560 

 

$

2,952,295 

 

$

2,977,511 

 

$

13,110 

 

$

28,611 

 

$

2,962,010 



Available for Sale [Member]  
Gain (Loss) on Investments [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity



 

 

 

 

 

 



 

 

 

 

 

 

Debt Securities Available for Sale

 

Amortized

 

Fair

(in thousands)

 

Cost

 

Value

Due in one year or less

 

$

7,388 

 

$

7,408 

Due after one year through five years

 

 

45,623 

 

 

45,740 

Due after five years through ten years

 

 

1,249,127 

 

 

1,202,997 

Due after ten years

 

 

1,706,813 

 

 

1,659,503 

  Total available for sale debt securities

 

$

3,008,951 

 

$

2,915,648 



 

 

 

 

 

 



Securities with Unrealized Losses



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2018

 

Losses < 12 months

 

Losses 12 months or >

 

Total



 

 

 

Gross

 

 

 

Gross

 

 

 

Gross



 

Fair

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

Unrealized

(in thousands)

 

Value

 

Losses

 

Value

 

Losses

 

Value

 

Losses

U.S. Treasury and government agency securities

 

$

43,521 

 

 

1,214 

 

 

50,362 

 

 

2,333 

 

$

93,883 

 

$

3,547 

Municipal obligations

 

 

54,330 

 

 

948 

 

 

169,119 

 

 

7,136 

 

 

223,449 

 

 

8,084 

Residential mortgage-backed securities

 

 

654,990 

 

 

14,667 

 

 

850,853 

 

 

32,724 

 

 

1,505,843 

 

 

47,391 

Commercial mortgage-backed securities

 

 

279,631 

 

 

8,091 

 

 

400,641 

 

 

26,997 

 

 

680,272 

 

 

35,088 

Collateralized mortgage obligations

 

 

122,186 

 

 

2,324 

 

 

32,972 

 

 

632 

 

 

155,158 

 

 

2,956 



 

$

1,154,658 

 

$

27,244 

 

$

1,503,947 

 

$

69,822 

 

$

2,658,605 

 

$

97,066 









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

Losses < 12 months

 

Losses 12 months or >

 

Total



 

 

 

Gross

 

 

 

Gross

 

 

 

Gross



 

Fair

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

Unrealized

(in thousands)

 

Value

 

Losses

 

Value

 

Losses

 

Value

 

Losses

U.S. Treasury and government agency securities

 

$

45,616 

 

$

42 

 

$

51,157 

 

$

2,221 

 

$

96,773 

 

$

2,263 

Municipal obligations

 

 

2,768 

 

 

11 

 

 

173,530 

 

 

3,335 

 

 

176,298 

 

 

3,346 

Residential mortgage-backed securities

 

 

461,835 

 

 

4,195 

 

 

898,099 

 

 

16,192 

 

 

1,359,934 

 

 

20,387 

Commercial mortgage-backed securities

 

 

203,618 

 

 

995 

 

 

411,046 

 

 

16,868 

 

 

614,664 

 

 

17,863 

Collateralized mortgage obligations

 

 

128,174 

 

 

1,076 

 

 

35,488 

 

 

483 

 

 

163,662 

 

 

1,559 



 

$

842,011 

 

$

6,319 

 

$

1,569,320 

 

$

39,099 

 

$

2,411,331 

 

$

45,418 



Held to Maturity [Member]  
Gain (Loss) on Investments [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity



 

 

 

 

 

 

Debt Securities Held to Maturity

 

Amortized

 

Fair

(in thousands)

 

Cost

 

Value

Due in one year or less

 

$

4,190 

 

$

4,205 

Due after one year through five years

 

 

132,047 

 

 

131,197 

Due after five years through ten years

 

 

1,478,419 

 

 

1,446,343 

Due after ten years

 

 

1,399,772 

 

 

1,370,550 

  Total held to maturity securities

 

$

3,014,428 

 

$

2,952,295 



Securities with Unrealized Losses



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2018

 

Losses < 12 months

 

Losses 12 months or >

 

Total



 

 

 

Gross

 

 

 

Gross

 

 

 

Gross



 

Fair

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

Unrealized

(in thousands)

 

Value

 

Losses

 

Value

 

Losses

 

Value

 

Losses

U.S. Treasury and government agency securities

 

$

 —

 

 

 —

 

 

49,424 

 

 

576 

 

$

49,424 

 

$

576 

Municipal obligations

 

 

341,011 

 

 

4,530 

 

 

221,438 

 

 

8,923 

 

 

562,449 

 

 

13,453 

Residential mortgage-backed securities

 

 

403,985 

 

 

4,090 

 

 

224,200 

 

 

6,534 

 

 

628,185 

 

 

10,624 

Commercial mortgage-backed securities

 

 

234,468 

 

 

6,845 

 

 

71,098 

 

 

4,555 

 

 

305,566 

 

 

11,400 

Collateralized mortgage obligations

 

 

672,660 

 

 

12,567 

 

 

441,866 

 

 

15,940 

 

 

1,114,526 

 

 

28,507 



 

$

1,652,124 

 

$

28,032 

 

$

1,008,026 

 

$

36,528 

 

$

2,660,150 

 

$

64,560 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

Losses < 12 months

 

Losses 12 months or >

 

Total



 

 

 

Gross

 

 

 

Gross

 

 

 

Gross



 

Fair

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

Unrealized

(in thousands)

 

Value

 

Losses

 

Value

 

Losses

 

Value

 

Losses

U.S. Treasury and government agency securities

 

$

 —

 

$

 —

 

$

49,711 

 

$

289 

 

$

49,711 

 

$

289 

Municipal obligations

 

 

14,603 

 

 

19 

 

 

230,960 

 

 

4,226 

 

 

245,563 

 

 

4,245 

Residential mortgage-backed securities

 

 

8,815 

 

 

99 

 

 

230,277 

 

 

2,591 

 

 

239,092 

 

 

2,690 

Commercial mortgage-backed securities

 

 

174,882 

 

 

744 

 

 

72,499 

 

 

3,171 

 

 

247,381 

 

 

3,915 

Collateralized mortgage obligations

 

 

570,289 

 

 

5,653 

 

 

472,536 

 

 

11,819 

 

 

1,042,825 

 

 

17,472 



 

$

768,589 

 

$

6,515 

 

$

1,055,983 

 

$

22,096 

 

$

1,824,572 

 

 

28,611