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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Securities
Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:
 
December 31, 2016
 
Less Than Twelve Months
 
Over Twelve Months
 
Total
(Dollars in thousands)
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
(549
)
 
$
150,554

 
$
—

 
$
—

 
$
(549
)
 
$
150,554

Obligations of state and political obligations
(5,207
)
 
148,059

 
—

 
—

 
(5,207
)
 
148,059

Mortgage-backed securities
(38,667
)
 
2,191,563

 
(2,624
)
 
98,912

 
(41,291
)
 
2,290,475

Other Securities
(451
)
 
36,484

 
(53
)
 
3,850

 
(504
)
 
40,334

Total securities available for sale
$
(44,874
)
 
$
2,526,660

 
$
(2,677
)
 
$
102,762

 
$
(47,551
)
 
$
2,629,422

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political obligations
$
(133
)
 
$
10,602

 
$
—

 
$
—

 
$
(133
)
 
$
10,602

Mortgage-backed securities
(330
)
 
12,288

 
(487
)
 
10,960

 
(817
)
 
23,248

Total securities held to maturity
$
(463
)
 
$
22,890

 
$
(487
)
 
$
10,960

 
$
(950
)
 
$
33,850


 
December 31, 2015
 
Less Than Twelve Months
 
Over Twelve Months
 
Total
(Dollars in thousands)
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
(1,214
)
 
$
177,839

 
$
(378
)
 
$
28,116

 
$
(1,592
)
 
$
205,955

Obligations of state and political obligations
(9
)
 
5,765

 
—

 
—

 
(9
)
 
5,765

Mortgage-backed securities
(11,737
)
 
1,279,914

 
(4,786
)
 
185,215

 
(16,523
)
 
1,465,129

Other Securities
(488
)
 
51,975

 
(9
)
 
499

 
(497
)
 
52,474

Total securities available for sale
$
(13,448
)
 
$
1,515,493

 
$
(5,173
)
 
$
213,830

 
$
(18,621
)
 
$
1,729,323

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political obligations
$
(9
)
 
$
1,999

 
$
(92
)
 
$
4,162

 
$
(101
)
 
$
6,161

Mortgage-backed securities
(45
)
 
3,530

 
(731
)
 
17,573

 
(776
)
 
21,103

Total securities held to maturity
$
(54
)
 
$
5,529

 
$
(823
)
 
$
21,735

 
$
(877
)
 
$
27,264

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:
 
December 31, 2016
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
212,662

 
$
245

 
$
(549
)
 
$
212,358

Obligations of state and political subdivisions
286,458

 
1,948

 
(5,207
)
 
283,199

Mortgage-backed securities
2,888,180

 
4,820

 
(41,291
)
 
2,851,709

Other securities
98,974

 
361

 
(504
)
 
98,831

Total securities available for sale
$
3,486,274

 
$
7,374

 
$
(47,551
)
 
$
3,446,097

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
64,726

 
$
1,609

 
$
(133
)
 
$
66,202

Mortgage-backed securities
24,490

 
57

 
(817
)
 
23,730

Total securities held to maturity
$
89,216

 
$
1,666

 
$
(950
)
 
$
89,932

 
 
 
 
 
 
 
 


 
December 31, 2015
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
252,514

 
$
1,161

 
$
(1,592
)
 
$
252,083

Obligations of state and political subdivisions
182,541

 
5,429

 
(9
)
 
187,961

Mortgage-backed securities
2,272,879

 
8,457

 
(16,523
)
 
2,264,813

Other securities
95,496

 
430

 
(497
)
 
95,429

Total securities available for sale
$
2,803,430

 
$
15,477

 
$
(18,621
)
 
$
2,800,286

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
69,979

 
$
2,803

 
$
(101
)
 
$
72,681

Mortgage-backed securities
28,949

 
107

 
(776
)
 
28,280

Total securities held to maturity
$
98,928

 
$
2,910

 
$
(877
)
 
$
100,961
Held-to-maturity Securities
Information pertaining to securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is as follows:
 
December 31, 2016
 
Less Than Twelve Months
 
Over Twelve Months
 
Total
(Dollars in thousands)
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
(549
)
 
$
150,554

 
$
—

 
$
—

 
$
(549
)
 
$
150,554

Obligations of state and political obligations
(5,207
)
 
148,059

 
—

 
—

 
(5,207
)
 
148,059

Mortgage-backed securities
(38,667
)
 
2,191,563

 
(2,624
)
 
98,912

 
(41,291
)
 
2,290,475

Other Securities
(451
)
 
36,484

 
(53
)
 
3,850

 
(504
)
 
40,334

Total securities available for sale
$
(44,874
)
 
$
2,526,660

 
$
(2,677
)
 
$
102,762

 
$
(47,551
)
 
$
2,629,422

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political obligations
$
(133
)
 
$
10,602

 
$
—

 
$
—

 
$
(133
)
 
$
10,602

Mortgage-backed securities
(330
)
 
12,288

 
(487
)
 
10,960

 
(817
)
 
23,248

Total securities held to maturity
$
(463
)
 
$
22,890

 
$
(487
)
 
$
10,960

 
$
(950
)
 
$
33,850


 
December 31, 2015
 
Less Than Twelve Months
 
Over Twelve Months
 
Total
(Dollars in thousands)
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
(1,214
)
 
$
177,839

 
$
(378
)
 
$
28,116

 
$
(1,592
)
 
$
205,955

Obligations of state and political obligations
(9
)
 
5,765

 
—

 
—

 
(9
)
 
5,765

Mortgage-backed securities
(11,737
)
 
1,279,914

 
(4,786
)
 
185,215

 
(16,523
)
 
1,465,129

Other Securities
(488
)
 
51,975

 
(9
)
 
499

 
(497
)
 
52,474

Total securities available for sale
$
(13,448
)
 
$
1,515,493

 
$
(5,173
)
 
$
213,830

 
$
(18,621
)
 
$
1,729,323

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political obligations
$
(9
)
 
$
1,999

 
$
(92
)
 
$
4,162

 
$
(101
)
 
$
6,161

Mortgage-backed securities
(45
)
 
3,530

 
(731
)
 
17,573

 
(776
)
 
21,103

Total securities held to maturity
$
(54
)
 
$
5,529

 
$
(823
)
 
$
21,735

 
$
(877
)
 
$
27,264

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:
 
December 31, 2016
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
212,662

 
$
245

 
$
(549
)
 
$
212,358

Obligations of state and political subdivisions
286,458

 
1,948

 
(5,207
)
 
283,199

Mortgage-backed securities
2,888,180

 
4,820

 
(41,291
)
 
2,851,709

Other securities
98,974

 
361

 
(504
)
 
98,831

Total securities available for sale
$
3,486,274

 
$
7,374

 
$
(47,551
)
 
$
3,446,097

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
64,726

 
$
1,609

 
$
(133
)
 
$
66,202

Mortgage-backed securities
24,490

 
57

 
(817
)
 
23,730

Total securities held to maturity
$
89,216

 
$
1,666

 
$
(950
)
 
$
89,932

 
 
 
 
 
 
 
 


 
December 31, 2015
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
252,514

 
$
1,161

 
$
(1,592
)
 
$
252,083

Obligations of state and political subdivisions
182,541

 
5,429

 
(9
)
 
187,961

Mortgage-backed securities
2,272,879

 
8,457

 
(16,523
)
 
2,264,813

Other securities
95,496

 
430

 
(497
)
 
95,429

Total securities available for sale
$
2,803,430

 
$
15,477

 
$
(18,621
)
 
$
2,800,286

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
69,979

 
$
2,803

 
$
(101
)
 
$
72,681

Mortgage-backed securities
28,949

 
107

 
(776
)
 
28,280

Total securities held to maturity
$
98,928

 
$
2,910

 
$
(877
)
 
$
100,961
Additional Information on Securities in a Continuous Loss Position
Additional information on securities that have been in a continuous loss position for over twelve months at December 31 is presented in the following table.
(Dollars in thousands)
2016
 
2015
Number of securities
 
 
 
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae
28

 
40

Issued by political subdivisions
—

 
2

Other
3

 
1

 
31

 
43

Amortized Cost Basis
 
 
 
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae
$
112,983

 
$
236,800

Issued by political subdivisions
—

 
4,253

Other
3,903

 
508

 
$
116,886

 
$
241,561

Unrealized Loss
 
 
 
Issued by Fannie Mae, Freddie Mac, or Ginnie Mae
$
3,111

 
$
5,895

Issued by political subdivisions
—

 
92

Other
53

 
9

 
$
3,164

 
$
5,996
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Maturity
The amortized cost and estimated fair value of investment securities by maturity at December 31, 2016 are presented 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. Weighted average yields are calculated on the basis of the yield to maturity based on the amortized cost of each security.
 
Securities Available for Sale
 
Securities Held to Maturity
(Dollars in thousands)
Weighted
Average
Yield
 
Amortized
Cost
 
Estimated
Fair
Value
 
Weighted
Average
Yield
 
Amortized
Cost
 
Estimated
Fair
Value
Within one year or less
2.29
%
 
$
15,540

 
$
15,477

 
2.59
%
 
$
2,551

 
$
2,570

One through five years
1.65

 
283,914

 
284,150

 
2.95

 
9,903

 
10,082

After five through ten years
2.25

 
703,768

 
697,829

 
3.07

 
18,181

 
18,569

Over ten years
2.05

 
2,483,052

 
2,448,641

 
2.81

 
58,581

 
58,711

 
2.06
%
 
$
3,486,274

 
$
3,446,097

 
2.88
%
 
$
89,216

 
$
89,932
Schedule of Realized Gains and Losses from Sale of Securities Classified as Available for Sale
The following is a summary of realized gains and losses from the sale of securities classified as available for sale. Gains or losses on securities sold are recorded on the trade date, using the specific identification method.
 
Years Ended December 31
(Dollars in thousands)
2016
 
2015
 
2014
Realized gains
$
2,949

 
$
1,834

 
$
863

Realized losses
(948
)
 
(259
)
 
(92
)
 
$
2,001

 
$
1,575

 
$
771
Schedule of Securities in Other Assets on Company's Consolidated Balance Sheets
The Company accounts for the following securities at amortized cost, which approximates fair value, in “other assets” on the consolidated balance sheets at December 31:
(Dollars in thousands)
2016
 
2015
Federal Home Loan Bank (FHLB) stock
$
42,326

 
$
16,265

Federal Reserve Bank (FRB) stock
48,584

 
48,584

Other investments
2,808

 
1,159

 
$
93,718

 
$
66,008