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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
The amortized cost and fair value of investment securities that are classified as held-to-maturity (“HTM”) and available-for-sale (“AFS”) are as follows: 
 
 
Years Ended December 31,
 
 
2018
 
2017
(In thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Estimated
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Estimated
Fair
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-Maturity
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
16,990

 
$
—

 
$
(49
)
 
$
16,941

 
$
46,945

 
$
7

 
$
(228
)
 
$
46,724

Mortgage-backed securities
 
13,346

 
5

 
(412
)
 
12,939

 
16,132

 
8

 
(287
)
 
15,853

State and political subdivisions
 
256,863

 
3,029

 
(954
)
 
258,938

 
301,491

 
5,962

 
(222
)
 
307,231

Other securities
 
1,995

 
17

 
—

 
2,012

 
3,490

 
—

 
—

 
3,490

Total HTM
 
$
289,194

 
$
3,051

 
$
(1,415
)
 
$
290,830

 
$
368,058

 
$
5,977

 
$
(737
)
 
$
373,298

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
157,523

 
$
518

 
$
(3,740
)
 
$
154,301

 
$
141,559

 
$
116

 
$
(1,951
)
 
$
139,724

Mortgage-backed securities
 
1,552,487

 
3,097

 
(32,684
)
 
1,522,900

 
1,208,017

 
246

 
(20,946
)
 
1,187,317

State and political subdivisions
 
320,142

 
171

 
(5,470
)
 
314,843

 
144,642

 
532

 
(2,009
)
 
143,165

Other securities
 
157,471

 
2,251

 
(14
)
 
159,708

 
118,106

 
1,206

 
(1
)
 
119,311

Total AFS
 
$
2,187,623

 
$
6,037

 
$
(41,908
)
 
$
2,151,752

 
$
1,612,324

 
$
2,100

 
$
(24,907
)
 
$
1,589,517
Schedule of Unrealized Loss on Investments
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at: 
 
 
Less Than 12 Months
 
12 Months or More
 
Total
(In thousands)
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-Maturity
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
992

 
$
(2
)
 
$
15,948

 
$
(47
)
 
$
16,940

 
$
(49
)
Mortgage-backed securities
 
—

 
—

 
12,177

 
(412
)
 
12,177

 
(412
)
State and political subdivisions
 
39,149

 
(208
)
 
50,889

 
(746
)
 
90,038

 
(954
)
Total HTM
 
$
40,141

 
$
(210
)
 
$
79,014

 
$
(1,205
)
 
$
119,155

 
$
(1,415
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
26,562

 
$
(221
)
 
$
108,636

 
$
(3,519
)
 
$
135,198

 
$
(3,740
)
Mortgage-backed securities
 
163,560

 
(1,146
)
 
1,037,679

 
(31,538
)
 
1,201,239

 
(32,684
)
State and political subdivisions
 
129,075

 
(1,406
)
 
132,020

 
(4,064
)
 
261,095

 
(5,470
)
Other securities
 
65

 
(13
)
 
99

 
(1
)
 
164

 
(14
)
Total AFS
 
$
319,262

 
$
(2,786
)
 
$
1,278,434

 
$
(39,122
)
 
$
1,597,696

 
$
(41,908
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-Maturity
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
11,961

 
$
(6
)
 
$
32,778

 
$
(222
)
 
$
44,739

 
$
(228
)
Mortgage-backed securities
 
5,471

 
(47
)
 
8,946

 
(240
)
 
14,417

 
(287
)
State and political subdivisions
 
40,299

 
(198
)
 
1,887

 
(24
)
 
42,186

 
(222
)
Total HTM
 
$
57,731

 
$
(251
)
 
$
43,611

 
$
(486
)
 
$
101,342

 
$
(737
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
91,988

 
$
(921
)
 
$
25,742

 
$
(1,030
)
 
$
117,730

 
$
(1,951
)
Mortgage-backed securities
 
510,770

 
(4,516
)
 
609,329

 
(16,430
)
 
1,120,099

 
(20,946
)
State and political subdivisions
 
25,049

 
(202
)
 
75,404

 
(1,807
)
 
100,453

 
(2,009
)
Other securities
 
—

 
—

 
99

 
(1
)
 
99

 
(1
)
Total AFS
 
$
627,807

 
$
(5,639
)
 
$
710,574

 
$
(19,268
)
 
$
1,338,381

 
$
(24,907
)
Income Earned on Securities
Income earned on securities for the years ended December 31, 2018, 2017 and 2016, is as follows: 
(In thousands)
 
2018
 
2017
 
2016
Taxable:
 
 

 
 

 
 

Held-to-maturity
 
$
2,157

 
$
2,521

 
$
3,778

Available-for-sale
 
40,926

 
25,996

 
17,928

 
 
 
 
 
 
 
Non-taxable:
 
 
 
 
 
 
Held-to-maturity
 
7,424

 
8,693

 
10,641

Available-for-sale
 
6,811

 
2,905

 
1,132

Total
 
$
57,318

 
$
40,115

 
$
33,479
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value by maturity of securities are shown in the following table.  Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options.  Accordingly, actual maturities may differ from contractual maturities. 
 
 
Held-to-Maturity
 
Available-for-Sale
(In thousands)
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
 
$
29,579

 
$
29,515

 
$
120

 
$
119

After one through five years
 
60,564

 
60,514

 
35,518

 
34,923

After five through ten years
 
88,770

 
88,971

 
39,426

 
39,360

After ten years
 
96,935

 
98,891

 
407,815

 
400,011

Securities not due on a single maturity date
 
13,346

 
12,939

 
1,552,487

 
1,522,900

Other securities (no maturity)
 
—

 
—

 
152,257

 
154,439

Total
 
$
289,194

 
$
290,830

 
$
2,187,623

 
$
2,151,752