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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Summary of Investment Securities
A Summary of the amortized cost and fair value of investment securities is presented below:
 
At December 31,
 
2016
 
2015
(In thousands)
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
 
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
Available-for-sale:
 
 
 
 
 
 
 
 
 
U.S. Treasury Bills
$
734

$
—

$
—

$
734

 
$
924

$
—

$
—

$
924

Agency CMO
419,865

3,344

(3,503
)
419,706

 
546,168

5,532

(2,946
)
548,754

Agency MBS
969,460

4,398

(19,509
)
954,349

 
1,075,941

6,459

(17,291
)
1,065,109

Agency CMBS
587,776

63

(14,567
)
573,272

 
215,670

639

(959
)
215,350

CMBS
473,974

4,093

(702
)
477,365

 
574,686

7,485

(2,905
)
579,266

CLO
425,083

2,826

(519
)
427,390

 
431,837

592

(3,270
)
429,159

Single issuer trust preferred securities
30,381

—

(1,748
)
28,633

 
42,168

—

(4,998
)
37,170

Corporate debt securities
108,490

1,502

(350
)
109,642

 
104,031

2,290

—

106,321

Equities - financial institutions
—

—

—

—

 
3,499

—

(921
)
2,578

Total available-for-sale
$
3,015,763

$
16,226

$
(40,898
)
$
2,991,091

 
$
2,994,924

$
22,997

$
(33,290
)
$
2,984,631

Held-to-maturity:
 
 
 
 
 
 
 
 
 
Agency CMO
$
339,455

$
1,977

$
(3,824
)
$
337,608

 
$
407,494

$
3,717

$
(2,058
)
$
409,153

Agency MBS
2,317,449

26,388

(41,768
)
2,302,069

 
2,030,176

38,813

(19,908
)
2,049,081

Agency CMBS
547,726

694

(1,348
)
547,072

 
686,086

4,253

(325
)
690,014

Municipal bonds and notes
655,813

4,389

(25,749
)
634,453

 
435,905

12,019

(417
)
447,507

CMBS
298,538

4,107

(411
)
302,234

 
360,018

5,046

(2,704
)
362,360

Private Label MBS
1,677

12

—

1,689

 
3,373

46

—

3,419

Total held-to-maturity
$
4,160,658

$
37,567

$
(73,100
)
$
4,125,125

 
$
3,923,052

$
63,894

$
(25,412
)
$
3,961,534
Other than Temporary Impairment, Credit Losses Recognized in Earnings
The following table presents the changes in OTTI:
 
Years ended December 31,
(In thousands)
2016
 
2015
 
2014
Beginning balance
$
3,288

 
$
3,696

 
$
16,633

Reduction for securities sold or called
(194
)
 
(518
)
 
(14,082
)
Additions for OTTI not previously recognized
149

 
110

 
1,145

Ending balance
$
3,243

 
$
3,288

 
$
3,696
Summary of Gross Unrealized Losses not Considered OTTI
The following tables provide information on fair value and unrealized losses for the individual securities with an unrealized loss, aggregated by investment security type and length of time that the individual securities have been in a continuous unrealized loss position:
 
At December 31, 2016
 
Less Than Twelve Months
 
Twelve Months or Longer
 
Total
(Dollars in thousands)
Fair
Value
Unrealized
Losses
 
Fair
Value
Unrealized
Losses
 
# of
Holdings
Fair
Value
Unrealized
Losses
Available-for-sale:
 
 
 
 
 
 
 
 
 
Agency CMO
$
107,853

$
(2,168
)
 
$
67,351

$
(1,335
)
 
15
$
175,204

$
(3,503
)
Agency MBS
512,075

(10,503
)
 
252,779

(9,006
)
 
97
764,854

(19,509
)
Agency CMBS
554,246

(14,567
)
 
—

—

 
32
554,246

(14,567
)
CMBS
12,427

(24
)
 
63,930

(678
)
 
12
76,357

(702
)
CLO
49,946

(54
)
 
50,237

(465
)
 
5
100,183

(519
)
Single issuer trust preferred securities
—

—

 
28,633

(1,748
)
 
5
28,633

(1,748
)
Corporate debt securities
—

—

 
7,384

(350
)
 
2
7,384

(350
)
Equities-financial institutions
—

—

 
—

—

 
—
—

—

Total available-for-sale in an unrealized loss position
$
1,236,547

$
(27,316
)
 
$
470,314

$
(13,582
)
 
168
$
1,706,861

$
(40,898
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
Agency CMO
$
163,439

$
(3,339
)
 
$
17,254

$
(485
)
 
16
$
180,693

$
(3,824
)
Agency MBS
1,394,623

(32,942
)
 
273,779

(8,826
)
 
150
1,668,402

(41,768
)
Agency CMBS
347,725

(1,348
)
 
—

—

 
25
347,725

(1,348
)
Municipal bonds and notes
384,795

(25,745
)
 
1,192

(4
)
 
196
385,987

(25,749
)
CMBS
60,768

(411
)
 
—

—

 
8
60,768

(411
)
Total held-to-maturity in an unrealized loss position
$
2,351,350

$
(63,785
)
 
$
292,225

$
(9,315
)
 
395
$
2,643,575

$
(73,100
)

 
At December 31, 2015
 
Less Than Twelve Months
 
Twelve Months or Longer
 
Total
(Dollars in thousands)
Fair
Value
Unrealized
Losses
 
Fair
Value
Unrealized
Losses
 
# of
Holdings
Fair
Value
Unrealized
Losses
Available-for-sale:
 
 
 
 
 
 
 
 
 
Agency CMO
$
195,369

$
(2,195
)
 
$
26,039

$
(751
)
 
14
$
221,408

$
(2,946
)
Agency MBS
481,839

(6,386
)
 
351,911

(10,905
)
 
84
833,750

(17,291
)
Agency CMBS
124,241

(959
)
 
—

—

 
7
124,241

(959
)
CMBS
276,330

(2,879
)
 
19,382

(26
)
 
29
295,712

(2,905
)
CLO
211,515

(2,709
)
 
15,708

(561
)
 
13
227,223

(3,270
)
Single issuer trust preferred securities
4,087

(128
)
 
33,083

(4,870
)
 
8
37,170

(4,998
)
Corporate debt securities
—

—

 
—

—

 
—
—

—

Equities-financial institutions
2,578

(921
)
 
—

—

 
1
2,578

(921
)
Total available-for-sale in an unrealized loss position
$
1,295,959

$
(16,177
)
 
$
446,123

$
(17,113
)
 
156
$
1,742,082

$
(33,290
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
Agency CMO
$
143,364

$
(1,304
)
 
$
27,928

$
(754
)
 
13
$
171,292

$
(2,058
)
Agency MBS
551,918

(7,089
)
 
470,828

(12,819
)
 
87
1,022,746

(19,908
)
Agency CMBS
110,864

(325
)
 
—

—

 
7
110,864

(325
)
Municipal bonds and notes
29,034

(130
)
 
13,829

(287
)
 
27
42,863

(417
)
CMBS
142,382

(1,983
)
 
30,129

(721
)
 
18
172,511

(2,704
)
Total held-to-maturity in an unrealized loss position
$
977,562

$
(10,831
)
 
$
542,714

$
(14,581
)
 
152
$
1,520,276

$
(25,412
)
Summary of Sale Proceeds of Available for Sale Securities
The following table provides information on sales of available-for-sale securities:
 
Years ended December 31,
(In thousands)
2016
 
2015
 
2014
Proceeds from sales
$
259,273

 
$
95,101

 
$
126,580

 
 
 
 
 
 
Gross realized gains on sales
$
2,891

 
$
1,029

 
$
7,268

Less: Gross realized losses on sales
2,477

 
420

 
1,769

Gain on sale of investment securities, net
$
414

 
$
609

 
$
5,499
Summary of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity are set forth below:
 
At December 31, 2016
 
 
 
 
 
Available-for-Sale
 
Held-to-Maturity
(In thousands)
Amortized
Cost
Fair
Value
 
Amortized
Cost
Fair
Value
Due in one year or less
$
75,466

$
76,383

 
$
13,612

$
13,721

Due after one year through five years
21,781

22,190

 
17,313

17,611

Due after five through ten years
529,247

532,352

 
46,835

47,780

Due after ten years
2,389,269

2,360,166

 
4,082,898

4,046,013

Total debt securities
$
3,015,763

$
2,991,091

 
$
4,160,658

$
4,125,125