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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
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,
 
2017
 
2016
(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
$
1,247

$
—

$
—

$
1,247

 
$
734

$
—

$
—

$
734

Agency CMO
308,989

1,158

(3,814
)
306,333

 
419,865

3,344

(3,503
)
419,706

Agency MBS
1,124,960

2,151

(19,270
)
1,107,841

 
969,460

4,398

(19,509
)
954,349

Agency CMBS
608,276

—

(20,250
)
588,026

 
587,776

63

(14,567
)
573,272

CMBS
358,984

2,157

(74
)
361,067

 
473,974

4,093

(702
)
477,365

CLO
209,075

910

(134
)
209,851

 
425,083

2,826

(519
)
427,390

Single issuer-trust preferred
7,096

—

(46
)
7,050

 
30,381

—

(1,748
)
28,633

Corporate debt
56,504

797

(679
)
56,622

 
108,490

1,502

(350
)
109,642

Total available-for-sale
$
2,675,131

$
7,173

$
(44,267
)
$
2,638,037

 
$
3,015,763

$
16,226

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

Held-to-maturity:
 
 
 
 
 
 
 
 
 
Agency CMO
$
260,114

$
664

$
(4,824
)
$
255,954

 
$
339,455

$
1,977

$
(3,824
)
$
337,608

Agency MBS
2,569,735

16,989

(37,442
)
2,549,282

 
2,317,449

26,388

(41,768
)
2,302,069

Agency CMBS
696,566

—

(10,011
)
686,555

 
547,726

694

(1,348
)
547,072

Municipal bonds and notes
711,381

8,584

(6,558
)
713,407

 
655,813

4,389

(25,749
)
634,453

CMBS
249,273

2,175

(620
)
250,828

 
298,538

4,107

(411
)
302,234

Private Label MBS
323

1

—

324

 
1,677

12

—

1,689

Total held-to-maturity
$
4,487,392

$
28,413

$
(59,455
)
$
4,456,350

 
$
4,160,658

$
37,567

$
(73,100
)
$
4,125,125
Other than Temporary Impairment, Credit Losses Recognized in Earnings The following table presents the changes in OTTI:
 
Years ended December 31,
(In thousands)
2017
 
2016
 
2015
Beginning balance
$
3,243

 
$
3,288

 
$
3,696

Reduction for securities sold or called
(2,005
)
 
(194
)
 
(518
)
Additions for OTTI not previously recognized
126

 
149

 
110

Ending balance
$
1,364

 
$
3,243

 
$
3,288
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, 2017
 
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
$
81,001

$
(449
)
 
$
119,104

$
(3,365
)
 
27
$
200,105

$
(3,814
)
Agency MBS
416,995

(2,920
)
 
606,021

(16,350
)
 
135
1,023,016

(19,270
)
Agency CMBS
54,182

(851
)
 
533,844

(19,399
)
 
36
588,026

(20,250
)
CMBS
23,869

(74
)
 
—

—

 
6
23,869

(74
)
CLO
56,335

(134
)
 
—

—

 
3
56,335

(134
)
Single issuer-trust preferred
7,050

(46
)
 
—

—

 
1
7,050

(46
)
Corporate debt
11,082

(395
)
 
6,265

(284
)
 
4
17,347

(679
)
Total available-for-sale in an unrealized loss position
$
650,514

$
(4,869
)
 
$
1,265,234

$
(39,398
)
 
212
$
1,915,748

$
(44,267
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
Agency CMO
$
98,090

$
(1,082
)
 
$
106,775

$
(3,742
)
 
22
$
204,865

$
(4,824
)
Agency MBS
762,107

(4,555
)
 
1,197,839

(32,887
)
 
205
1,959,946

(37,442
)
Agency CMBS
576,770

(7,599
)
 
109,785

(2,412
)
 
56
686,555

(10,011
)
Municipal bonds and notes
6,432

(38
)
 
226,861

(6,520
)
 
92
233,293

(6,558
)
CMBS
92,670

(413
)
 
14,115

(207
)
 
13
106,785

(620
)
Total held-to-maturity in an unrealized loss position
$
1,536,069

$
(13,687
)
 
$
1,655,375

$
(45,768
)
 
388
$
3,191,444

$
(59,455
)

 
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
—

—

 
28,633

(1,748
)
 
5
28,633

(1,748
)
Corporate debt
—

—

 
7,384

(350
)
 
2
7,384

(350
)
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
)
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)
2017
 
2016
 
2015
Proceeds from sales (1)
$
—

 
$
259,273

 
$
95,101

 
 
 
 
 
 
Gross realized gains on sales
$
—

 
$
2,891

 
$
1,029

Less: Gross realized losses on sales
—

 
2,477

 
420

Gain on sale of investment securities, net
$
—

 
$
414

 
$
609
Summary of Debt Securities by Contractual Maturity The amortized cost and fair value of debt securities by contractual maturity, including called securities, are set forth below:
 
At December 31, 2017
 
 
 
 
 
Available-for-Sale
 
Held-to-Maturity
(In thousands)
Amortized
Cost
Fair
Value
 
Amortized
Cost
Fair
Value
Due in one year or less
$
1,247

$
1,247

 
$
33,654

$
34,145

Due after one year through five years
40,066

40,447

 
3,839

3,857

Due after five through ten years
332,558

333,931

 
37,870

38,450

Due after ten years
2,301,260

2,262,412

 
4,412,029

4,379,898

Total debt securities
$
2,675,131

$
2,638,037

 
$
4,487,392

$
4,456,350