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Securities (Tables)
 3 Months Ended
Mar. 31, 2016
Available-for-sale Securities [Abstract]  
Securities Available for Sale
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
 
(in thousands)
March 31, 2016
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,319,714

 
$
14,247

 
$
(3,861
)
 
$
1,330,100

State and municipal securities
 
477,544

 
14,257

 
(414
)
 
491,387

U.S. government agency and government-sponsored enterprise securities
 
353,910

 
5,031

 
—

 
358,941

U.S. government securities
 
547

 
—

 
—

 
547

Other securities
 
5,284

 
53

 
(146
)
 
5,191

Total
 
$
2,156,999

 
$
33,588

 
$
(4,421
)
 
$
2,186,166

December 31, 2015
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,296,955

 
$
4,525

 
$
(14,991
)
 
$
1,286,489

State and municipal securities
 
480,417

 
12,690

 
(938
)
 
492,169

U.S. government agency and government-sponsored enterprise securities
 
354,515

 
1,113

 
(1,846
)
 
353,782

U.S. government securities
 
20,439

 
—

 
(302
)
 
20,137

Other securities
 
5,284

 
24

 
(191
)
 
5,117

Total
 
$
2,157,610

 
$
18,352

 
$
(18,268
)
 
$
2,157,694
Schedule of gross realized gains and losses on sales and calls of securities available for sale
The following table provides the gross realized gains and losses on the sales of securities for the periods indicated:
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
 
 
(in thousands)
Gross realized gains
 
$
373

 
$
730

Gross realized losses
 
—

 
(9
)
Net realized gains
 
$
373

 
$
721
Schedule of Contractual Maturities of Investment Securities Available for Sale
The scheduled contractual maturities of investment securities available for sale at March 31, 2016 are presented as follows:
 
 
March 31, 2016
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
39,056

 
$
39,243

Due after one year through five years
 
435,423

 
440,733

Due after five years through ten years
 
711,190

 
723,977

Due after ten years
 
966,046

 
977,022

Other securities with no stated maturity
 
5,284

 
5,191

Total investment securities available-for-sale
 
$
2,156,999

 
$
2,186,166
Carrying Value of Securities Pledged As Collateral
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
 
 
March 31, 2016
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
339,424

Federal Reserve Bank to secure borrowings
 
48,879

Other securities pledged
 
156,551

Total securities pledged as collateral
 
$
544,854

The following table presents the class of collateral pledged for repurchase agreements as well as the remaining contractual maturity of the repurchase agreements:
 
 
Remaining contractual maturity of the agreements
 
 
Overnight and continuous
 
Up to 30 days
 
30 - 90 days
 
Greater than 90 days
 
Total
March 31, 2016
 
(in thousands)
Class of collateral pledged for repurchase agreements
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
48,839

 
$
—

 
$
—

 
$
25,000

 
$
73,839

Gross amount of recognized liabilities for repurchase agreements
 
 
 
 
 
 
 
 
 
73,839

Amounts related to agreements not included in offsetting disclosure
 
 
 
 
 
 
 
 
 
$
—
Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
 
(in thousands)
March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
95,313

 
$
(533
)
 
$
190,975

 
$
(3,328
)
 
$
286,288

 
$
(3,861
)
State and municipal securities
 
25,702

 
(125
)
 
19,010

 
(289
)
 
44,712

 
(414
)
U.S. government agency and government-sponsored enterprise securities
 
4,063

 
—

 
500

 
—

 
4,563

 
—

Other securities
 
—

 
—

 
2,810

 
(146
)
 
2,810

 
(146
)
Total
 
$
125,078

 
$
(658
)
 
$
213,295

 
$
(3,763
)
 
$
338,373

 
$
(4,421
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
664,509

 
$
(7,610
)
 
$
214,325

 
$
(7,381
)
 
$
878,834

 
$
(14,991
)
State and municipal securities
 
48,261

 
(358
)
 
31,383

 
(580
)
 
79,644

 
(938
)
U.S. government agency and government-sponsored enterprise securities
 
193,400

 
(1,128
)
 
40,034

 
(718
)
 
233,434

 
(1,846
)
U.S. government securities
 
10,343

 
(136
)
 
9,794

 
(166
)
 
20,137

 
(302
)
Other securities
 
2,300

 
(15
)
 
2,780

 
(176
)
 
5,080

 
(191
)
Total
 
$
918,813

 
$
(9,247
)
 
$
298,316

 
$
(9,021
)
 
$
1,217,129

 
$
(18,268
)