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Securities (Tables)
6 Months Ended
Jun. 30, 2018
Gain (Loss) on Investments [Line Items]  
Amortized Cost and Fair Value of Securities Available for Sale



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

June 30, 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

 

$

95,469 

 

 

 —

 

 

4,484 

 

 

90,985 

 

$

99,535 

 

$

 —

 

$

2,263 

 

$

97,272 

Municipal obligations

 

 

244,365 

 

 

165 

 

 

8,520 

 

 

236,010 

 

 

245,997 

 

 

1,135 

 

 

3,346 

 

 

243,786 

Residential mortgage-backed securities

 

 

1,826,589 

 

 

2,609 

 

 

54,327 

 

 

1,774,871 

 

 

1,729,989 

 

 

5,611 

 

 

20,387 

 

 

1,715,213 

Commercial mortgage-backed securities

 

 

770,769 

 

 

153 

 

 

41,390 

 

 

729,532 

 

 

704,518 

 

 

480 

 

 

17,863 

 

 

687,135 

Collateralized mortgage obligations

 

 

150,928 

 

 

 —

 

 

4,153 

 

 

146,775 

 

 

165,518 

 

 

 

 

1,559 

 

 

163,963 

Corporate debt securities

 

 

3,500 

 

 

 —

 

 

 —

 

 

3,500 

 

 

3,500 

 

 

 —

 

 

 —

 

 

3,500 



 

$

3,091,620 

 

$

2,927 

 

$

112,874 

 

$

2,981,673 

 

$

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)

 

June 30, 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 

 

 

 —

 

 

668 

 

 

49,332 

 

$

50,000 

 

$

 —

 

$

289 

 

$

49,711 

Municipal obligations

 

 

704,082 

 

 

953 

 

 

14,166 

 

 

690,869 

 

 

723,094 

 

 

8,323 

 

 

4,245 

 

 

727,172 

Residential mortgage-backed securities

 

 

665,846 

 

 

194 

 

 

14,730 

 

 

651,310 

 

 

725,748 

 

 

4,175 

 

 

2,690 

 

 

727,233 

Commercial mortgage-backed securities

 

 

357,680 

 

 

153 

 

 

14,581 

 

 

343,252 

 

 

317,185 

 

 

40 

 

 

3,915 

 

 

313,310 

Collateralized mortgage obligations

 

 

1,354,592 

 

 

18 

 

 

34,904 

 

 

1,319,706 

 

 

1,161,484 

 

 

572 

 

 

17,472 

 

 

1,144,584 



 

$

3,132,200 

 

$

1,318 

 

$

79,049 

 

$

3,054,469 

 

$

2,977,511 

 

$

13,110 

 

$

28,611 

 

$

2,962,010 



Available for Sale Securities [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

 

$

5,073 

 

$

5,088 

Due after one year through five years

 

 

57,191 

 

 

57,118 

Due after five years through ten years

 

 

1,279,427 

 

 

1,225,729 

Due after ten years

 

 

1,749,929 

 

 

1,693,738 

  Total available for sale debt securities

 

$

3,091,620 

 

$

2,981,673 



 

 

 

 

 

 



Securities with Unrealized Losses



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 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

 

$

42,423 

 

$

1,812 

 

$

48,562 

 

$

2,672 

 

$

90,985 

 

$

4,484 

Municipal obligations

 

 

54,121 

 

 

984 

 

 

168,133 

 

 

7,536 

 

 

222,254 

 

 

8,520 

Residential mortgage-backed securities

 

 

559,924 

 

 

8,483 

 

 

1,066,016 

 

 

45,844 

 

 

1,625,940 

 

 

54,327 

Commercial mortgage-backed securities

 

 

291,635 

 

 

10,839 

 

 

396,809 

 

 

30,551 

 

 

688,444 

 

 

41,390 

Collateralized mortgage obligations

 

 

115,891 

 

 

3,007 

 

 

30,884 

 

 

1,146 

 

 

146,775 

 

 

4,153 



 

$

1,063,994 

 

$

25,125 

 

$

1,710,404 

 

$

87,749 

 

$

2,774,398 

 

$

112,874 









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Securities [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

 

$

17,258 

 

$

17,413 

Due after one year through five years

 

 

137,093 

 

 

135,198 

Due after five years through ten years

 

 

1,474,871 

 

 

1,436,090 

Due after ten years

 

 

1,502,978 

 

 

1,465,768 

  Total held to maturity securities

 

$

3,132,200 

 

$

3,054,469 



Securities with Unrealized Losses



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 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

 

$

 —

 

$

 —

 

$

49,332 

 

$

668 

 

$

49,332 

 

$

668 

Municipal obligations

 

 

364,751 

 

 

5,081 

 

 

220,575 

 

 

9,085 

 

 

585,326 

 

 

14,166 

Residential mortgage-backed securities

 

 

383,695 

 

 

7,189 

 

 

211,897 

 

 

7,541 

 

 

595,592 

 

 

14,730 

Commercial mortgage-backed securities

 

 

232,031 

 

 

9,079 

 

 

70,133 

 

 

5,502 

 

 

302,164 

 

 

14,581 

Collateralized mortgage obligations

 

 

592,423 

 

 

8,113 

 

 

677,684 

 

 

26,791 

 

 

1,270,107 

 

 

34,904 



 

$

1,572,900 

 

$

29,462 

 

$

1,229,621 

 

$

49,587 

 

$

2,802,521 

 

$

79,049 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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