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Securities (Tables)
 9 Months Ended
Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Securities Available-For-Sale and Held-to-Maturity
The following tables set forth the amortized cost and estimated fair value of securities available-for-sale and held-to-maturity at the dates indicated.
 
At September 30, 2014
(In Thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available-for-sale:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE (1) issuance REMICs and CMOs (2)
$
250,318

 
 
$
3,191

 
 
 
$
(2,763
)
 
 
$
250,746

Non-GSE issuance REMICs and CMOs
5,685

 
 
43

 
 
 
(1
)
 
 
5,727

GSE pass-through certificates
13,538

 
 
478

 
 
 
(5
)
 
 
14,011

Total residential mortgage-backed securities
269,541

 
 
3,712

 
 
 
(2,769
)
 
 
270,484

Obligations of GSEs
98,679

 
 
—

 
 
 
(3,140
)
 
 
95,539

Fannie Mae stock
15

 
 
—

 
 
 
(12
)
 
 
3

Total securities available-for-sale
$
368,235

 
 
$
3,712

 
 
 
$
(5,921
)
 
 
$
366,026

Held-to-maturity:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs and CMOs
$
1,562,719

 
 
$
12,793

 
 
 
$
(23,830
)
 
 
$
1,551,682

Non-GSE issuance REMICs and CMOs
2,669

 
 
37

 
 
 
(7
)
 
 
2,699

GSE pass-through certificates
290,152

 
 
1,168

 
 
 
(5,360
)
 
 
285,960

Total residential mortgage-backed securities
1,855,540

 
 
13,998

 
 
 
(29,197
)
 
 
1,840,341

Multi-family mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs
106,326

 
 
260

 
 
 
(541
)
 
 
106,045

Obligations of GSEs
90,934

 
 
52

 
 
 
(2,531
)
 
 
88,455

Other
537

 
 
—

 
 
 
—

 
 
537

Total securities held-to-maturity
$
2,053,337

 
 
$
14,310

 
 
 
$
(32,269
)
 
 
$
2,035,378

 
(1)    Government-sponsored enterprise
(2)    Real estate mortgage investment conduits and collateralized mortgage obligations
 
At December 31, 2013
(In Thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available-for-sale:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs and CMOs
$
292,131

 
 
$
1,077

 
 
 
$
(7,134
)
 
 
$
286,074

Non-GSE issuance REMICs and CMOs
7,516

 
 
57

 
 
 
(1
)
 
 
7,572

GSE pass-through certificates
16,120

 
 
770

 
 
 
(2
)
 
 
16,888

Total residential mortgage-backed securities
315,767

 
 
1,904

 
 
 
(7,137
)
 
 
310,534

Obligations of GSEs
98,675

 
 
—

 
 
 
(7,522
)
 
 
91,153

Fannie Mae stock
15

 
 
—

 
 
 
(12
)
 
 
3

Total securities available-for-sale
$
414,457

 
 
$
1,904

 
 
 
$
(14,671
)
 
 
$
401,690

Held-to-maturity:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs and CMOs
$
1,474,506

 
 
$
12,877

 
 
 
$
(33,925
)
 
 
$
1,453,458

Non-GSE issuance REMICs and CMOs
3,833

 
 
61

 
 
 
(10
)
 
 
3,884

GSE pass-through certificates
282,473

 
 
85

 
 
 
(10,089
)
 
 
272,469

Total residential mortgage-backed securities
1,760,812

 
 
13,023

 
 
 
(44,024
)
 
 
1,729,811

Obligations of GSEs
88,128

 
 
—

 
 
 
(7,403
)
 
 
80,725

Other
586

 
 
—

 
 
 
—

 
 
586

Total securities held-to-maturity
$
1,849,526

 
 
$
13,023

 
 
 
$
(51,427
)
 
 
$
1,811,122
Schedule of Estimated Fair Values of Securities with Gross Unrealized Losses in Continuous Unrealized Loss Position for Less Than Twelve Months and for Twelve Months or Longer
The following tables set forth the estimated fair values of securities with gross unrealized losses at the dates indicated, segregated between securities that have been in a continuous unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer at the dates indicated.
 
 
At September 30, 2014
 
 
Less Than Twelve Months
 
Twelve Months or Longer
 
Total
 
(In Thousands)
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross Unrealized
Losses
 
Estimated
Fair Value
 
Gross Unrealized
Losses
Available-for-sale:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
22,413

 
 
$
(136
)
 
 
$
97,773

 
 
$
(2,627
)
 
 
$
120,186

 
 
$
(2,763
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
102

 
 
(1
)
 
 
102

 
 
(1
)
 
GSE pass-through certificates
597

 
 
(4
)
 
 
78

 
 
(1
)
 
 
675

 
 
(5
)
 
Obligations of GSEs
—

 
 
—

 
 
95,539

 
 
(3,140
)
 
 
95,539

 
 
(3,140
)
 
Fannie Mae stock
—

 
 
—

 
 
3

 
 
(12
)
 
 
3

 
 
(12
)
 
Total temporarily impaired securities
available-for-sale
$
23,010

 
 
$
(140
)
 
 
$
193,495

 
 
$
(5,781
)
 
 
$
216,505

 
 
$
(5,921
)
 
Held-to-maturity:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
300,843

 
 
$
(3,374
)
 
 
$
483,810

 
 
$
(20,456
)
 
 
$
784,653

 
 
$
(23,830
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
296

 
 
(7
)
 
 
296

 
 
(7
)
 
GSE pass-through certificates
—

 
 
—

 
 
168,261

 
 
(5,360
)
 
 
168,261

 
 
(5,360
)
 
Multi-family mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs
72,587

 
 
(541
)
 
 
—

 
 
—

 
 
72,587

 
 
(541
)
 
Obligations of GSEs
—

 
 
—

 
 
78,403

 
 
(2,531
)
 
 
78,403

 
 
(2,531
)
 
Total temporarily impaired securities
held-to-maturity
$
373,430

 
 
$
(3,915
)
 
 
$
730,770

 
 
$
(28,354
)
 
 
$
1,104,200

 
 
$
(32,269
)
 
 
 
At December 31, 2013
 
 
Less Than Twelve Months
 
Twelve Months or Longer
 
Total
 
(In Thousands)
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
Available-for-sale:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
243,149

 
 
$
(7,134
)
 
 
$
—

 
 
$
—

 
 
$
243,149

 
 
$
(7,134
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
132

 
 
(1
)
 
 
132

 
 
(1
)
 
GSE pass-through certificates
172

 
 
(1
)
 
 
70

 
 
(1
)
 
 
242

 
 
(2
)
 
Obligations of GSEs
91,153

 
 
(7,522
)
 
 
—

 
 
—

 
 
91,153

 
 
(7,522
)
 
Fannie Mae stock
—

 
 
—

 
 
3

 
 
(12
)
 
 
3

 
 
(12
)
 
Total temporarily impaired securities
available-for-sale
$
334,474

 
 
$
(14,657
)
 
 
$
205

 
 
$
(14
)
 
 
$
334,679

 
 
$
(14,671
)
 
Held-to-maturity:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
719,715

 
 
$
(25,611
)
 
 
$
151,581

 
 
$
(8,314
)
 
 
$
871,296

 
 
$
(33,925
)
 
Non-GSE issuance REMICs and CMOs
392

 
 
(10
)
 
 
—

 
 
—

 
 
392

 
 
(10
)
 
GSE pass-through certificates
230,795

 
 
(10,088
)
 
 
28

 
 
(1
)
 
 
230,823

 
 
(10,089
)
 
Obligations of GSEs
80,725

 
 
(7,403
)
 
 
—

 
 
—

 
 
80,725

 
 
(7,403
)
 
Total temporarily impaired securities
held-to-maturity
$
1,031,627

 
 
$
(43,112
)
 
 
$
151,609

 
 
$
(8,315
)
 
 
$
1,183,236

 
 
$
(51,427
)