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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017
 
Less Than Twelve Months
 
Twelve Months or More
 
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
$
(254
)
 
$
29,744

 
$
(152
)
 
$
9,848

 
$
(406
)
 
$
39,592

Obligations of state and political subdivisions
(326
)
 
31,601

 
(1,167
)
 
68,609

 
(1,493
)
 
100,210

Mortgage-backed securities
(26,263
)
 
2,677,338

 
(34,765
)
 
1,226,058

 
(61,028
)
 
3,903,396

Other securities
(914
)
 
75,302

 
—

 
—

 
(914
)
 
75,302

Total securities available for sale
$
(27,757
)
 
$
2,813,985

 
$
(36,084
)
 
$
1,304,515

 
$
(63,841
)
 
$
4,118,500

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
(263
)
 
$
65,817

 
$
(12
)
 
$
3,031

 
$
(275
)
 
$
68,848

Mortgage-backed securities
(2
)
 
333

 
(648
)
 
19,269

 
(650
)
 
19,602

Total securities held to maturity
$
(265
)
 
$
66,150

 
$
(660
)
 
$
22,300

 
$
(925
)
 
$
88,450


 
December 31, 2016
 
Less Than Twelve Months
 
Twelve Months or More
 
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 subdivisions
(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 subdivisions
$
(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

The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:
 
December 31, 2017
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
41,003

 
$
18

 
$
(406
)
 
$
40,615

Obligations of state and political subdivisions
271,451

 
4,246

 
(1,493
)
 
274,204

Mortgage-backed securities
4,221,472

 
1,461

 
(61,028
)
 
4,161,905

Other securities
114,005

 
247

 
(914
)
 
113,338

Total securities available for sale
$
4,647,931

 
$
5,972

 
$
(63,841
)
 
$
4,590,062

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
206,736

 
$
1,530

 
$
(275
)
 
$
207,991

Mortgage-backed securities
20,582

 
41

 
(650
)
 
19,973

Total securities held to maturity
$
227,318

 
$
1,571

 
$
(925
)
 
$
227,964



 
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
Held-to-maturity Securities
The amortized cost and fair values of investment securities, with gross unrealized gains and losses, consist of the following:
 
December 31, 2017
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government-sponsored enterprise obligations
$
41,003

 
$
18

 
$
(406
)
 
$
40,615

Obligations of state and political subdivisions
271,451

 
4,246

 
(1,493
)
 
274,204

Mortgage-backed securities
4,221,472

 
1,461

 
(61,028
)
 
4,161,905

Other securities
114,005

 
247

 
(914
)
 
113,338

Total securities available for sale
$
4,647,931

 
$
5,972

 
$
(63,841
)
 
$
4,590,062

Securities held to maturity:
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
206,736

 
$
1,530

 
$
(275
)
 
$
207,991

Mortgage-backed securities
20,582

 
41

 
(650
)
 
19,973

Total securities held to maturity
$
227,318

 
$
1,571

 
$
(925
)
 
$
227,964



 
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

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, 2017
 
Less Than Twelve Months
 
Twelve Months or More
 
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
$
(254
)
 
$
29,744

 
$
(152
)
 
$
9,848

 
$
(406
)
 
$
39,592

Obligations of state and political subdivisions
(326
)
 
31,601

 
(1,167
)
 
68,609

 
(1,493
)
 
100,210

Mortgage-backed securities
(26,263
)
 
2,677,338

 
(34,765
)
 
1,226,058

 
(61,028
)
 
3,903,396

Other securities
(914
)
 
75,302

 
—

 
—

 
(914
)
 
75,302

Total securities available for sale
$
(27,757
)
 
$
2,813,985

 
$
(36,084
)
 
$
1,304,515

 
$
(63,841
)
 
$
4,118,500

 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
$
(263
)
 
$
65,817

 
$
(12
)
 
$
3,031

 
$
(275
)
 
$
68,848

Mortgage-backed securities
(2
)
 
333

 
(648
)
 
19,269

 
(650
)
 
19,602

Total securities held to maturity
$
(265
)
 
$
66,150

 
$
(660
)
 
$
22,300

 
$
(925
)
 
$
88,450


 
December 31, 2016
 
Less Than Twelve Months
 
Twelve Months or More
 
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 subdivisions
(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 subdivisions
$
(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
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)
2017
 
2016
Number of securities
 
 
 
Mortgage-backed securities
181

 
28

Obligations of state and political subdivisions
28

 
—

Other
1

 
3

 
210

 
31

Amortized Cost Basis
 
 
 
Mortgage-backed securities
$
1,280,739

 
$
112,983

Obligations of state and political subdivisions
72,820

 
—

Other
10,000

 
3,903

 
$
1,363,559

 
$
116,886

Unrealized Loss
 
 
 
Mortgage-backed securities
$
35,412

 
$
3,111

Obligations of state and political subdivisions
1,180

 
—

Other
152

 
53

 
$
36,744

 
$
3,164
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, 2017 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
0.60
%
 
$
37,907

 
$
37,563

 
2.79
%
 
$
1,119

 
$
1,125

One through five years
2.04

 
124,350

 
123,589

 
3.01

 
8,718

 
8,756

After five through ten years
2.35

 
867,799

 
863,931

 
2.81

 
34,970

 
35,418

Over ten years
2.32

 
3,617,875

 
3,564,979

 
2.55

 
182,511

 
182,665

 
2.30
%
 
$
4,647,931

 
$
4,590,062

 
2.61
%
 
$
227,318

 
$
227,964
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)
2017
 
2016
 
2015
Realized gains
$
1,651

 
$
2,949

 
$
1,834

Realized losses
(1,799
)
 
(948
)
 
(259
)
 
$
(148
)
 
$
2,001

 
$
1,575
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)
2017
 
2016
Federal Home Loan Bank (FHLB) stock
$
95,171

 
$
42,326

Federal Reserve Bank (FRB) stock
79,191

 
48,584

Other investments
3,008

 
2,808

 
$
177,370

 
$
93,718