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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments [Abstract] |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment and marketable equity securities at December 31, 2020 and 2019, were as follows:
| December 31, 2020
(Dollars in thousands) | Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Allowance for credit losses |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 499,832 |  |  | $ | 101 |  |  | $ | — |  |  | $ | — |  |  | $ | 499,933 |
Government agency | 706,241 |  |  | 723 |  |  | 5,573 |  |  | — |  |  | 701,391 |
Residential mortgage-backed securities | 4,369,130 |  |  | 70,283 |  |  | 1,310 |  |  | — |  |  | 4,438,103 |
Commercial mortgage-backed securities | 745,892 |  |  | 25,645 |  |  | — |  |  | — |  |  | 771,537 |
Corporate bonds | 590,870 |  |  | 14,437 |  |  | 2,028 |  |  | — |  |  | 603,279 |
Total investment securities available for sale | $ | 6,911,965 |  |  | $ | 111,189 |  |  | $ | 8,911 |  |  | $ | — |  |  | $ | 7,014,243 |
Investment in marketable equity securities | 84,837 |  |  | 8,654 |  |  | 1,811 |  |  |  |  | 91,680 |
Investment securities held to maturity |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | 1,877,692 |  |  | 17,689 |  |  | — |  |  | — |  |  | 1,895,381 |
Commercial mortgage-backed securities | 937,034 |  |  | 3,884 |  |  | 56 |  |  | — |  |  | 940,862 |
Other | 2,256 |  |  | — |  |  | — |  |  | — |  |  | 2,256 |
Total investment securities held to maturity | 2,816,982 |  |  | 21,573 |  |  | 56 |  |  | — |  |  | 2,838,499 |
Total investment securities | $ | 9,813,784 |  |  | $ | 141,416 |  |  | $ | 10,778 |  |  | $ | — |  |  | $ | 9,944,422 |
|  |  | December 31, 2019
|  |  | Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | $ | 409,397 |  |  | $ | 602 |  |  | $ | — |  |  | $ | 409,999 |
Government agency |  |  | 684,085 |  |  | 928 |  |  | 2,241 |  |  | 682,772 |
Residential mortgage-backed securities |  |  | 5,269,060 |  |  | 13,417 |  |  | 15,387 |  |  | 5,267,090 |
Commercial mortgage-backed securities |  |  | 373,105 |  |  | 6,974 |  |  | 59 |  |  | 380,020 |
Corporate bonds |  |  | 198,278 |  |  | 3,420 |  |  | 132 |  |  | 201,566 |
State, county and municipal |  |  | 118,227 |  |  | — |  |  | — |  |  | 118,227 |
Total investment securities available for sale |  |  | $ | 7,052,152 |  |  | $ | 25,341 |  |  | $ | 17,819 |  |  | $ | 7,059,674 |
Investment in marketable equity securities |  |  | 59,262 |  |  | 23,304 |  |  | 233 |  |  | 82,333 |
Investment securities held to maturity |  |  |  |  |  |  |  |  |
Other |  |  | 30,996 |  |  | — |  |  | — |  |  | 30,996 |
Total investment securities |  |  | $ | 7,142,410 |  |  | $ | 48,645 |  |  | $ | 18,052 |  |  | $ | 7,173,003 |
Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date.
| December 31, 2020 |  | December 31, 2019
(Dollars in thousands) | Cost |  | Fair value |  | Cost |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | $ | 500,846 |  |  | $ | 500,954 |  |  | $ | 406,325 |  |  | $ | 406,927 |
One through five years | 72,565 |  |  | 73,881 |  |  | 24,496 |  |  | 24,971 |
Five through 10 years | 508,320 |  |  | 519,570 |  |  | 185,209 |  |  | 187,868 |
Over 10 years | 8,971 |  |  | 8,807 |  |  | 109,872 |  |  | 110,026 |
Government agency | 706,241 |  |  | 701,391 |  |  | 684,085 |  |  | 682,772 |
Residential mortgage-backed securities | 4,369,130 |  |  | 4,438,103 |  |  | 5,269,060 |  |  | 5,267,090 |
Commercial mortgage-backed securities | 745,892 |  |  | 771,537 |  |  | 373,105 |  |  | 380,020 |
Total investment securities available for sale | $ | 6,911,965 |  |  | $ | 7,014,243 |  |  | $ | 7,052,152 |  |  | $ | 7,059,674 |
Investment securities held to maturity |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | $ | 1,507 |  |  | $ | 1,507 |  |  | $ | 30,746 |  |  | $ | 30,746 |
One through five years | 749 |  |  | 749 |  |  | 250 |  |  | 250 |
Residential mortgage-backed securities | 1,877,692 |  |  | 1,895,381 |  |  | — |  |  | — |
Commercial mortgage-backed securities | 937,034 |  |  | 940,862 |  |  | — |  |  | — |
Total investment securities held to maturity | $ | 2,816,982 |  |  | $ | 2,838,499 |  |  | $ | 30,996 |  |  | $ | 30,996 |
Securities Gains (Losses) | For each period presented, realized gains on investment securities available for sale included the following:
| Year ended December 31
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Gross gains on retirement/sales of investment securities available for sale | $ | 60,932 |  |  | $ | 8,993 |  |  | $ | 353 |
Gross losses on sales of investment securities available for sale | (679) |  |  | (1,878) |  |  | (2) |
Realized gains on investment securities available for sale, net | $ | 60,253 |  |  | $ | 7,115 |  |  | $ | 351 |
Schedule of Realized and Unrealized Gains or Losses on Marketable Equity Securities | realized and unrealized gains or losses on marketable equity securities included the following:
| Year ended December 31
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Marketable equity securities gains (losses), net | $ | 29,395 |  |  | $ | 20,625 |  |  | $ | (7,610) |
Less net gains recognized on marketable equity securities sold | 44,550 |  |  | 16,344 |  |  | 1,190 |
Unrealized (losses) gains recognized on marketable equity securities held | $ | (15,155) |  |  | $ | 4,281 |  |  | $ | (8,800) |
Investment Securities With Unrealized Losses | The following table provides information regarding investment securities with unrealized losses as of December 31, 2020 and 2019:
| December 31, 2020
| Less than 12 months |  | 12 months or more |  | Total
(Dollars in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
Government agency | $ | 268,622 |  |  | $ | 3,197 |  |  | $ | 328,777 |  |  | $ | 2,376 |  |  | $ | 597,399 |  |  | $ | 5,573 |
Residential mortgage-backed securities | 433,816 |  |  | 1,241 |  |  | 23,064 |  |  | 69 |  |  | 456,880 |  |  | 1,310 |
Corporate bonds | 57,715 |  |  | 2,028 |  |  | — |  |  | — |  |  | 57,715 |  |  | 2,028 |
Total | $ | 760,153 |  |  | $ | 6,466 |  |  | $ | 351,841 |  |  | $ | 2,445 |  |  | $ | 1,111,994 |  |  | $ | 8,911 |
| December 31, 2019
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
Government agency | $ | 347,081 |  |  | $ | 1,827 |  |  | $ | 63,947 |  |  | $ | 414 |  |  | $ | 411,028 |  |  | $ | 2,241 |
Residential mortgage-backed securities | 2,387,293 |  |  | 14,016 |  |  | 264,257 |  |  | 1,371 |  |  | 2,651,550 |  |  | 15,387 |
Commercial mortgage-backed securities | 35,926 |  |  | 59 |  |  | — |  |  | — |  |  | 35,926 |  |  | 59 |
Corporate bonds | 7,714 |  |  | 123 |  |  | 4,749 |  |  | 9 |  |  | 12,463 |  |  | 132 |
Total | $ | 2,778,014 |  |  | $ | 16,025 |  |  | $ | 332,953 |  |  | $ | 1,794 |  |  | $ | 3,110,967 |  |  | $ | 17,819 |

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