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Investments (Tables)
3 Months Ended
Mar. 31, 2021
Investments [Abstract]  
Aggregate Values And Unrealized Gains And Losses Of Investment Securities
The amortized cost and fair value of investment securities at March 31, 2021 and December 31, 2020, were as follows:
March 31, 2021
(Dollars in thousands)Amortized costGross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
Government agency$852,305 $784 $6,403 $846,686 
Residential mortgage-backed securities4,736,893 47,742 26,046 4,758,589 
Commercial mortgage-backed securities1,096,259 14,619 11,891 1,098,987 
Corporate bonds585,095 18,313 548 602,860 
Total investment securities available for sale$7,270,552 $81,458 $44,888 $7,307,122 
Investment in marketable equity securities84,297 22,872 283 106,886 
Investment securities held to maturity
Residential mortgage-backed securities 1,740,314 5,191 20,510 1,724,995 
Commercial mortgage-backed securities 1,065,778 13 17,811 1,047,980 
Other2,007 — — 2,007 
Total investment securities held to maturity2,808,099 5,204 38,321 2,774,982 
Total investment securities$10,162,948 $109,534 $83,492 $10,188,990 
December 31, 2020
(Dollars in thousands)Amortized costGross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
U.S. Treasury$499,832 $101 $— $499,933 
Government agency706,241 723 5,573 701,391 
Residential mortgage-backed securities4,369,130 70,283 1,310 4,438,103 
Commercial mortgage-backed securities745,892 25,645 — 771,537 
Corporate bonds590,870 14,437 2,028 603,279 
Total investment securities available for sale$6,911,965 $111,189 $8,911 $7,014,243 
Investment in marketable equity securities84,837 8,654 1,811 91,680 
Investment securities held to maturity
Residential mortgage-backed securities 1,877,692 17,689 — 1,895,381 
Commercial mortgage-backed securities 937,034 3,884 56 940,862 
Other2,256 — — 2,256 
Total investment securities held to maturity2,816,982 21,573 56 2,838,499 
Total investment securities$9,813,784 $141,416 $10,778 $9,944,422 
Investment Securities Maturity Information
The following table provides the amortized cost and fair value by contractual maturity for investment securities available for sale and held to maturity. Expected maturities will differ from contractual maturities on certain securities because issuers and borrowers of underlying collateral may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date.
 March 31, 2021December 31, 2020
(Dollars in thousands)Amortized costFair
value
Amortized costFair
value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less$1,020 $1,021 $500,846 $500,954 
One through five years72,340 74,536 72,565 73,881 
Five through 10 years502,757 517,922 508,320 519,570 
Over 10 years8,978 9,381 8,971 8,807 
Government agency852,305 846,686 706,241 701,391 
Residential mortgage-backed securities4,736,893 4,758,589 4,369,130 4,438,103 
Commercial mortgage-backed securities1,096,259 1,098,987 745,892 771,537 
Total investment securities available for sale$7,270,552 $7,307,122 $6,911,965 $7,014,243 
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less998 998 1,507 1,507 
One through five years1,009 1,009 749 749 
Residential mortgage-backed securities 1,740,314 1,724,995 1,877,692 1,895,381 
Commercial mortgage-backed securities 1,065,778 1,047,980 937,034 940,862 
Total investment securities held to maturity$2,808,099 $2,774,982 $2,816,982 $2,838,499 
Available-for-sale Securities
The following table provides the gross realized gains and losses on the sales of investment securities available for sale for the three months ended March 31, 2021 and 2020:
Three months ended March 31
(Dollars in thousands)20212020
Gross realized gains on sales of investment securities available for sale$9,207 $20,474 
Gross realized losses on sales of investment securities available for sale— (679)
Net realized gains on sales of investment securities available for sale$9,207 $19,795 
Marketable Securities Gains (Losses)
The following table provides the realized and unrealized gains and losses on marketable equity securities for the three months ended March 31, 2021 and 2020:
Three months ended March 31
(Dollars in thousands)20212020
Marketable equity securities gains (losses), net$16,011 $(51,408)
Less net gains recognized on marketable equity securities sold263 323 
Unrealized gains (losses) recognized on marketable equity securities held$15,748 $(51,731)
Investment Securities With Unrealized Losses
The following table provides information regarding securities with unrealized losses as of March 31, 2021 and December 31, 2020:
March 31, 2021
 Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$331,034 $3,501 $415,379 $2,902 $746,413 $6,403 
Residential mortgage-backed securities2,345,301 26,001 12,495 45 2,357,796 26,046 
Commercial mortgage-backed securities685,575 11,891 — — 685,575 11,891 
Corporate bonds8,394 14 26,183 534 34,577 548 
Total$3,370,304 $41,407 $454,057 $3,481 $3,824,361 $44,888 
December 31, 2020
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$268,622 $3,197 $328,777 $2,376 $597,399 $5,573 
Residential mortgage-backed securities433,816 1,241 23,064 69 456,880 1,310 
Corporate bonds57,715 2,028 — — 57,715 2,028 
Total$760,153 $6,466 $351,841 $2,445 $1,111,994 $8,911