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Securities (Tables)
 9 Months Ended
Sep. 30, 2015
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, 2015
(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)
$
329,635

 
 
$
4,821

 
 
 
$
(472
)
 
 
$
333,984

Non-GSE issuance REMICs and CMOs
3,548

 
 
16

 
 
 
(8
)
 
 
3,556

GSE pass-through certificates
11,205

 
 
531

 
 
 
(2
)
 
 
11,734

Total residential mortgage-backed securities
344,388

 
 
5,368

 
 
 
(482
)
 
 
349,274

Obligations of GSEs
98,683

 
 
14

 
 
 
(515
)
 
 
98,182

Fannie Mae stock
15

 
 
—

 
 
 
(13
)
 
 
2

Total securities available-for-sale
$
443,086

 
 
$
5,382

 
 
 
$
(1,010
)
 
 
$
447,458

Held-to-maturity:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs and CMOs
$
1,411,120

 
 
$
18,691

 
 
 
$
(6,804
)
 
 
$
1,423,007

Non-GSE issuance REMICs and CMOs
200

 
 
—

 
 
 
(5
)
 
 
195

GSE pass-through certificates
258,825

 
 
2,946

 
 
 
(1,649
)
 
 
260,122

Total residential mortgage-backed securities
1,670,145

 
 
21,637

 
 
 
(8,458
)
 
 
1,683,324

Multi-family mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs
289,674

 
 
4,359

 
 
 
(12
)
 
 
294,021

Obligations of GSEs
207,355

 
 
659

 
 
 
(295
)
 
 
207,719

Corporate debt securities
30,000

 
 
—

 
 
 
(75
)
 
 
29,925

Other
455

 
 
—

 
 
 
—

 
 
455

Total securities held-to-maturity
$
2,197,629

 
 
$
26,655

 
 
 
$
(8,840
)
 
 
$
2,215,444


(1)
Government-sponsored enterprise
(2)
Real estate mortgage investment conduits and collateralized mortgage obligations
 
At December 31, 2014
(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
$
266,946

 
 
$
3,608

 
 
 
$
(1,556
)
 
 
$
268,998

Non-GSE issuance REMICs and CMOs
5,071

 
 
34

 
 
 
(1
)
 
 
5,104

GSE pass-through certificates
12,919

 
 
640

 
 
 
(2
)
 
 
13,557

Total residential mortgage-backed securities
284,936

 
 
4,282

 
 
 
(1,559
)
 
 
287,659

Obligations of GSEs
98,680

 
 
—

 
 
 
(1,982
)
 
 
96,698

Fannie Mae stock
15

 
 
—

 
 
 
(13
)
 
 
2

Total securities available-for-sale
$
383,631

 
 
$
4,282

 
 
 
$
(3,554
)
 
 
$
384,359

Held-to-maturity:
 

 
 
 

 
 
 
 

 
 
 

Residential mortgage-backed securities:
 

 
 
 

 
 
 
 

 
 
 

GSE issuance REMICs and CMOs
$
1,575,402

 
 
$
14,536

 
 
 
$
(14,041
)
 
 
$
1,575,897

Non-GSE issuance REMICs and CMOs
2,482

 
 
31

 
 
 
(7
)
 
 
2,506

GSE pass-through certificates
281,685

 
 
2,442

 
 
 
(3,877
)
 
 
280,250

Total residential mortgage-backed securities
1,859,569

 
 
17,009

 
 
 
(17,925
)
 
 
1,858,653

Multi-family mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
GSE issuance REMICs
154,381

 
 
554

 
 
 
(590
)
 
 
154,345

Obligations of GSEs
119,336

 
 
42

 
 
 
(1,523
)
 
 
117,855

Other
518

 
 
—

 
 
 
—

 
 
518

Total securities held-to-maturity
$
2,133,804

 
 
$
17,605

 
 
 
$
(20,038
)
 
 
$
2,131,371
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, 2015
 
 
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
$
70,706

 
 
$
(472
)
 
 
$
—

 
 
$
—

 
 
$
70,706

 
 
$
(472
)
 
Non-GSE issuance REMICs and CMOs
80

 
 
(2
)
 
 
70

 
 
(6
)
 
 
150

 
 
(8
)
 
GSE pass-through certificates
97

 
 
(1
)
 
 
107

 
 
(1
)
 
 
204

 
 
(2
)
 
Obligations of GSEs
24,952

 
 
(32
)
 
 
48,225

 
 
(483
)
 
 
73,177

 
 
(515
)
 
Fannie Mae stock
—

 
 
—

 
 
2

 
 
(13
)
 
 
2

 
 
(13
)
 
Total temporarily impaired securities
available-for-sale
$
95,835

 
 
$
(507
)
 
 
$
48,404

 
 
$
(503
)
 
 
$
144,239

 
 
$
(1,010
)
 
Held-to-maturity:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
66,064

 
 
$
(485
)
 
 
$
305,095

 
 
$
(6,319
)
 
 
$
371,159

 
 
$
(6,804
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
195

 
 
(5
)
 
 
195

 
 
(5
)
 
GSE pass-through certificates
18

 
 
(1
)
 
 
110,412

 
 
(1,648
)
 
 
110,430

 
 
(1,649
)
 
Multi-family mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs
10,686

 
 
(12
)
 
 
—

 
 
—

 
 
10,686

 
 
(12
)
 
Obligations of GSEs
51,080

 
 
(295
)
 
 
—

 
 
—

 
 
51,080

 
 
(295
)
 
Corporate debt securities
19,925

 
 
(75
)
 
 
—

 
 
—

 
 
19,925

 
 
(75
)
 
Total temporarily impaired securities
held-to-maturity
$
147,773

 
 
$
(868
)
 
 
$
415,702

 
 
$
(7,972
)
 
 
$
563,475

 
 
$
(8,840
)
 

 
At December 31, 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
$
20,587

 
 
$
(159
)
 
 
$
75,444

 
 
$
(1,397
)
 
 
$
96,031

 
 
$
(1,556
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
96

 
 
(1
)
 
 
96

 
 
(1
)
 
GSE pass-through certificates
53

 
 
(1
)
 
 
64

 
 
(1
)
 
 
117

 
 
(2
)
 
Obligations of GSEs
24,586

 
 
(395
)
 
 
72,112

 
 
(1,587
)
 
 
96,698

 
 
(1,982
)
 
Fannie Mae stock
—

 
 
—

 
 
2

 
 
(13
)
 
 
2

 
 
(13
)
 
Total temporarily impaired securities
available-for-sale
$
45,226

 
 
$
(555
)
 
 
$
147,718

 
 
$
(2,999
)
 
 
$
192,944

 
 
$
(3,554
)
 
Held-to-maturity:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
Residential mortgage-backed securities:
 

 
 
 

 
 
 

 
 
 

 
 
 

 
 
 

 
GSE issuance REMICs and CMOs
$
121,861

 
 
$
(302
)
 
 
$
500,348

 
 
$
(13,739
)
 
 
$
622,209

 
 
$
(14,041
)
 
Non-GSE issuance REMICs and CMOs
—

 
 
—

 
 
294

 
 
(7
)
 
 
294

 
 
(7
)
 
GSE pass-through certificates
—

 
 
—

 
 
164,453

 
 
(3,877
)
 
 
164,453

 
 
(3,877
)
 
Multi-family mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 


 
 


 
GSE issuance REMICs
100,355

 
 
(590
)
 
 
—

 
 
—

 
 
100,355

 
 
(590
)
 
Obligations of GSEs
—

 
 
—

 
 
79,413

 
 
(1,523
)
 
 
79,413

 
 
(1,523
)
 
Total temporarily impaired securities
held-to-maturity
$
222,216

 
 
$
(892
)
 
 
$
744,508

 
 
$
(19,146
)
 
 
$
966,724

 
 
$
(20,038
)