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Securities (Tables) | 3 Months Ended | 12 Months Ended
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Mar. 31, 2021 | Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |  |
Summary of Portfolio of Securities Available for Sale | The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at March 31, 2021 and December 31, 2020:
|  | March 31, 2021 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gain |  |  | Gross Unrealized Loss |  |  | Fair Value |
Debt securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSE certificates |  | $ | 1,183,746 |  |  | $ | 40,473 |  |  | $ | 14,901 |  |  | $ | 1,209,318 |
GSE CMOs |  |  | 2,007,855 |  |  |  | 28,837 |  |  |  | 50,422 |  |  |  | 1,986,270 |
Total mortgage-related debt securities |  | $ | 3,191,601 |  |  | $ | 69,310 |  |  | $ | 65,323 |  |  | $ | 3,195,588 |
Other Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury obligations |  | $ | 64,993 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 64,998 |
GSE debentures |  |  | 1,433,280 |  |  |  | 2,693 |  |  |  | 67,632 |  |  |  | 1,368,341 |
Asset-backed securities (1) |  |  | 520,111 |  |  |  | 4,030 |  |  |  | 3,368 |  |  |  | 520,773 |
Municipal bonds |  |  | 25,715 |  |  |  | 482 |  |  |  | 186 |  |  |  | 26,011 |
Corporate bonds |  |  | 870,886 |  |  |  | 16,594 |  |  |  | 5,410 |  |  |  | 882,070 |
Foreign notes |  |  | 25,000 |  |  |  | 993 |  |  |  | — |  |  |  | 25,993 |
Capital trust notes |  |  | 95,621 |  |  |  | 6,823 |  |  |  | 8,313 |  |  |  | 94,131 |
Total other debt securities |  | $ | 3,035,606 |  |  | $ | 31,620 |  |  | $ | 84,909 |  |  | $ | 2,982,317 |
Total debt securities available for sale |  | $ | 6,227,207 |  |  | $ | 100,930 |  |  | $ | 150,232 |  |  | $ | 6,177,905 |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  |  | 15,814 |  |  |  | 116 |  |  |  | 129 |  |  |  | 15,801 |
Total equity securities |  | $ | 15,814 |  |  | $ | 116 |  |  | $ | 129 |  |  | $ | 15,801 |
Total securities (2) |  | $ | 6,243,021 |  |  | $ | 101,046 |  |  | $ | 150,361 |  |  | $ | 6,193,706 |
(1) | The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.
(2) | Excludes accrued interest receivable of $14.8 million included in other assets in the Consolidated Statements of Condition.
|  | December 31, 2020 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gain |  |  | Gross Unrealized Loss |  |  | Fair Value |
Debt securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSE certificates |  | $ | 1,155,436 |  |  | $ | 54,310 |  |  | $ | 136 |  |  | $ | 1,209,610 |
GSE CMOs |  |  | 1,786,896 |  |  |  | 44,691 |  |  |  | 2,872 |  |  |  | 1,828,715 |
Total mortgage-related debt securities |  | $ | 2,942,332 |  |  | $ | 99,001 |  |  | $ | 3,008 |  |  | $ | 3,038,325 |
Other Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury obligations |  | $ | 64,984 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 64,985 |
GSE debentures |  |  | 1,158,253 |  |  |  | 3,998 |  |  |  | 3,949 |  |  |  | 1,158,302 |
Asset-backed securities (1) |  |  | 530,226 |  |  |  | 2,576 |  |  |  | 5,703 |  |  |  | 527,099 |
Municipal bonds |  |  | 25,776 |  |  |  | 625 |  |  |  | 90 |  |  |  | 26,311 |
Corporate bonds |  |  | 870,745 |  |  |  | 17,928 |  |  |  | 6,447 |  |  |  | 882,226 |
Foreign notes |  |  | 25,000 |  |  |  | 538 |  |  |  | — |  |  |  | 25,538 |
Capital trust notes |  |  | 95,507 |  |  |  | 5,540 |  |  |  | 10,500 |  |  |  | 90,547 |
Total other debt securities |  | $ | 2,770,491 |  |  | $ | 31,206 |  |  | $ | 26,689 |  |  | $ | 2,775,008 |
Total other securities available for sale |  | $ | 5,712,823 |  |  | $ | 130,207 |  |  | $ | 29,697 |  |  | $ | 5,813,333 |
Equity Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock |  | $ | 15,292 |  |  | $ | 201 |  |  | $ | — |  |  | $ | 15,493 |
Mutual funds |  |  | 15,814 |  |  |  | 269 |  |  |  | — |  |  |  | 16,083 |
Total equity securities |  | $ | 31,106 |  |  | $ | 470 |  |  | $ | — |  |  | $ | 31,576 |
Total securities (2) |  | $ | 5,743,929 |  |  | $ | 130,677 |  |  | $ | 29,697 |  |  | $ | 5,844,909 |
(1) | The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.
(2) | Excludes accrued interest receivable of $14.9 million included in other assets in the Consolidated Statements of Condition.
| The following tables summarize the Company’s portfolio of debt securities available for sale and equity investments with readily determinable fair values at December 31, 2020 and 2019:
|  | December 31, 2020 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gain |  |  | Gross Unrealized Loss |  |  | Fair Value |
Debt securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSE certificates |  | $ | 1,155,436 |  |  | $ | 54,310 |  |  | $ | 136 |  |  | $ | 1,209,610 |
GSE CMOs |  |  | 1,786,896 |  |  |  | 44,691 |  |  |  | 2,872 |  |  |  | 1,828,715 |
Total mortgage-related debt securities |  | $ | 2,942,332 |  |  | $ | 99,001 |  |  | $ | 3,008 |  |  | $ | 3,038,325 |
Other Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury obligations |  | $ | 64,984 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 64,985 |
GSE debentures |  |  | 1,158,253 |  |  |  | 3,998 |  |  |  | 3,949 |  |  |  | 1,158,302 |
Asset-backed securities (1) |  |  | 530,226 |  |  |  | 2,576 |  |  |  | 5,703 |  |  |  | 527,099 |
Municipal bonds |  |  | 25,776 |  |  |  | 625 |  |  |  | 90 |  |  |  | 26,311 |
Corporate bonds |  |  | 870,745 |  |  |  | 17,928 |  |  |  | 6,447 |  |  |  | 882,226 |
Foreign notes |  |  | 25,000 |  |  |  | 538 |  |  |  | — |  |  |  | 25,538 |
Capital trust notes |  |  | 95,507 |  |  |  | 5,540 |  |  |  | 10,500 |  |  |  | 90,547 |
Total other debt securities |  | $ | 2,770,491 |  |  | $ | 31,206 |  |  | $ | 26,689 |  |  | $ | 2,775,008 |
Total debt securities available for sale |  | $ | 5,712,823 |  |  | $ | 130,207 |  |  | $ | 29,697 |  |  | $ | 5,813,333 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 15,292 |  |  |  | 201 |  |  |  | — |  |  |  | 15,493 |
Mutual funds |  |  | 15,814 |  |  |  | 269 |  |  |  | — |  |  |  | 16,083 |
Total equity securities |  | $ | 31,106 |  |  | $ | 470 |  |  | $ | — |  |  | $ | 31,576 |
Total securities (2) |  | $ | 5,743,929 |  |  | $ | 130,677 |  |  | $ | 29,697 |  |  | $ | 5,844,909 |
(1) | The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government..
(2) | Excludes accrued interest receivable of $14.9 million included in other assets in the Consolidated Statements of Condition.
|  | December 31, 2019 |
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gain |  |  | Gross Unrealized Loss |  |  | Fair Value |
Debt securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Related Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSE certificates |  | $ | 1,530,317 |  |  | $ | 26,069 |  |  | $ | 3,763 |  |  | $ | 1,552,623 |
GSE CMOs |  |  | 1,783,440 |  |  |  | 21,213 |  |  |  | 3,541 |  |  |  | 1,801,112 |
Total mortgage-related debt securities |  | $ | 3,313,757 |  |  | $ | 47,282 |  |  | $ | 7,304 |  |  | $ | 3,353,735 |
Other Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury obligations |  | $ | 41,820 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 41,839 |
GSE debentures |  |  | 1,093,845 |  |  |  | 5,707 |  |  |  | 5,312 |  |  |  | 1,094,240 |
Asset-backed securities (1) |  |  | 384,108 |  |  |  | — |  |  |  | 10,854 |  |  |  | 373,254 |
Municipal bonds |  |  | 26,808 |  |  |  | 559 |  |  |  | 475 |  |  |  | 26,892 |
Corporate bonds |  |  | 854,195 |  |  |  | 15,970 |  |  |  | 2,983 |  |  |  | 867,182 |
Capital trust notes |  |  | 95,100 |  |  |  | 7,121 |  |  |  | 6,306 |  |  |  | 95,915 |
Total other debt securities |  | $ | 2,495,876 |  |  | $ | 29,376 |  |  | $ | 25,930 |  |  | $ | 2,499,322 |
Total other securities available for sale |  | $ | 5,809,633 |  |  | $ | 76,658 |  |  | $ | 33,234 |  |  | $ | 5,853,057 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock |  |  | 15,292 |  |  |  | 122 |  |  |  | — |  |  |  | 15,414 |
Mutual funds and common stock (2) |  |  | 16,871 |  |  |  | 718 |  |  |  | 173 |  |  |  | 17,416 |
Total equity securities |  | $ | 32,163 |  |  | $ | 840 |  |  | $ | 173 |  |  | $ | 32,830 |
Total securities (3) |  | $ | 5,841,796 |  |  | $ | 77,498 |  |  | $ | 33,407 |  |  | $ | 5,885,887 |
(1) | The underlying assets of the asset-backed securities are substantially guaranteed by the U.S. Government.
(2) | Primarily consists of mutual funds that are CRA-qualified investments.
(3) | Excludes accrued interest receivable of $24.4 million included in other assets in the Consolidated Statements of Condition.
Summary of Gross Proceeds and Gross Realized Gains and Losses from Sale of Available-for-Sale Securities | The following table summarizes the gross proceeds, gross realized gains, and gross realized losses from the sale of available-for-sale securities during the three months ended March 31, 2021 and 2020:
|  | For the Three Months Ended March 31, |
(in thousands) |  | 2021 |  |  | 2020 |
Gross proceeds |  |  | — |  |  | $ | 369,972 |
Gross realized gains |  |  | — |  |  |  | 1,811 |
Gross realized losses |  |  | — |  |  |  | 1,062 |
| The following table summarizes the gross proceeds, gross realized gains, and gross realized losses from the sale of available-for-sale securities during the years ended December 31, 2020, 2019, and 2018:
|  | December 31, |
(in thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Gross proceeds |  | $ | 483,872 |  |  | $ | 361,311 |  |  | $ | 278,539 |
Gross realized gains |  |  | 1,945 |  |  |  | 5,445 |  |  |  | 967 |
Gross realized losses |  |  | 1,262 |  |  |  | — |  |  |  | 981 |
Summary of Amortized Cost of Available-for-Sale Securities by Contractual Maturity | The following table summarizes, by contractual maturity, the amortized cost of securities at March 31, 2021:
(dollars in thousands) |  | Mortgage- Related Securities |  |  | Average Yield |  |  | U.S. Government and GSE Obligations |  |  | Average Yield |  |  | State, County, and Municipal |  |  | Average Yield (1) |  |  | Other Debt Securities (2) |  |  | Average Yield |  |  | Fair Value |
Available-for-Sale Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due within one year |  | $ | 23,017 |  |  |  | 3.76 | % |  | $ | 75,943 |  |  |  | 0.54 | % |  | $ | — |  |  |  | — | % |  | $ | 49,817 |  |  |  | 3.01 | % |  | $ | 149,348 |
Due from one to five years |  |  | 361,118 |  |  |  | 3.18 |  |  |  | 21,924 |  |  |  | 3.52 |  |  |  | — |  |  |  | — |  |  |  | 223,181 |  |  |  | 1.87 |  |  |  | 637,035 |
Due from five to ten years |  |  | 175,554 |  |  |  | 2.48 |  |  |  | 238,052 |  |  |  | 2.16 |  |  |  | 19,840 |  |  |  | 3.51 |  |  |  | 706,390 |  |  |  | 2.03 |  |  |  | 1,146,853 |
Due after ten years |  |  | 2,631,912 |  |  |  | 1.98 |  |  |  | 1,162,354 |  |  |  | 1.53 |  |  |  | 5,875 |  |  |  | 3.33 |  |  |  | 532,230 |  |  |  | 1.25 |  |  |  | 4,244,669 |
Total debt securities available for sale |  | $ | 3,191,601 |  |  |  | 2.16 | % |  | $ | 1,498,273 |  |  |  | 1.61 | % |  | $ | 25,715 |  |  |  | 3.47 | % |  | $ | 1,511,618 |  |  |  | 1.76 | % |  | $ | 6,177,905 |
(1) | Not presented on a tax-equivalent basis.
(2) | Includes corporate bonds, capital trust notes, and asset-backed securities.
| The following table summarizes, by contractual maturity, the amortized cost of securities at December 31, 2020:
|  | Mortgage- Related Securities |  |  | Average Yield |  |  | U.S. Government and GSE Obligations |  |  | Average Yield |  |  | State, County, and Municipal |  |  | Average Yield (1) |  |  | Other Debt Securities (2) |  |  | Average Yield |  |  | Fair Value |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-Sale Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due within one year |  | $ | 49,797 |  |  |  | 3.03 | % |  | $ | 75,934 |  |  |  | 0.56 | % |  | $ | — |  |  |  | — | % |  | $ | 49,704 |  |  |  | 3.02 |  |  | $ | 176,720 |
Due from one to five years |  |  | 405,157 |  |  |  | 3.16 |  |  |  | 21,924 |  |  |  | 3.52 |  |  |  | — |  |  |  | — |  |  |  | 151,873 |  |  |  | 2.22 |  |  |  | 615,048 |
Due from five to ten years |  |  | 175,689 |  |  |  | 2.48 |  |  |  | 138,053 |  |  |  | 2.37 |  |  |  | 19,898 |  |  |  | 3.51 |  |  |  | 779,401 |  |  |  | 1.88 |  |  |  | 1,130,037 |
Due after ten years |  |  | 2,311,689 |  |  |  | 2.15 |  |  |  | 987,326 |  |  |  | 1.60 |  |  |  | 5,878 |  |  |  | 3.33 |  |  |  | 540,500 |  |  |  | 1.29 |  |  |  | 3,891,528 |
Total debt securities available for sale |  | $ | 2,942,332 |  |  |  | 2.32 |  |  | $ | 1,223,237 |  |  |  | 1.66 |  |  | $ | 25,776 |  |  |  | 3.47 |  |  | $ | 1,521,478 |  |  |  | 1.74 |  |  | $ | 5,813,333 |
(1) | Not presented on a tax-equivalent basis.
(2) | Includes corporate bonds, capital trust notes, foreign notes, and asset-backed securities.
Summary of Held-to-Maturity and Available-for-Sale Securities having Continuous Unrealized Loss Position | The following table presents securities with no related allowance having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of March 31, 2021:
|  | Less than Twelve Months |  |  | Twelve Months or Longer |  |  | Total |
(in thousands) |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily Impaired Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
GSE certificates |  | $ | 323,281 |  |  | $ | 14,901 |  |  | $ | — |  |  | $ | — |  |  | $ | 323,281 |  |  | $ | 14,901 |
GSE CMOs |  |  | 918,257 |  |  |  | 50,422 |  |  |  | — |  |  |  | — |  |  |  | 918,257 |  |  |  | 50,422 |
GSE debentures |  |  | 1,244,721 |  |  |  | 67,633 |  |  |  | — |  |  |  | — |  |  |  | 1,244,721 |  |  |  | 67,633 |
Asset-backed securities |  |  | 112,149 |  |  |  | 405 |  |  |  | 179,063 |  |  |  | 2,962 |  |  |  | 291,212 |  |  |  | 3,367 |
Municipal bonds |  |  | — |  |  |  | — |  |  |  | 8,744 |  |  |  | 186 |  |  |  | 8,744 |  |  |  | 186 |
Corporate bonds |  |  | — |  |  |  | — |  |  |  | 319,590 |  |  |  | 5,410 |  |  |  | 319,590 |  |  |  | 5,410 |
Capital trust notes |  |  | — |  |  |  | — |  |  |  | 35,601 |  |  |  | 8,313 |  |  |  | 35,601 |  |  |  | 8,313 |
Equity securities |  |  | 11,676 |  |  |  | 129 |  |  |  | — |  |  |  | — |  |  |  | 11,676 |  |  |  | 129 |
Total temporarily impaired securities |  | $ | 2,610,084 |  |  | $ | 133,490 |  |  | $ | 542,998 |  |  | $ | 16,871 |  |  | $ | 3,153,082 |  |  | $ | 150,361 |
The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2020:
|  | Less than Twelve Months |  |  | Twelve Months or Longer |  |  | Total |
(in thousands) |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily Impaired Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury obligations |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
U. S. Government agency and GSE obligations |  |  | 58,876 |  |  |  | 136 |  |  |  | — |  |  |  | — |  |  |  | 58,876 |  |  |  | 136 |
GSE certificates |  |  | 442,207 |  |  |  | 2,807 |  |  |  | 73,568 |  |  |  | 65 |  |  |  | 515,775 |  |  |  | 2,872 |
GSE CMOs |  |  | 522,441 |  |  |  | 3,949 |  |  |  | — |  |  |  | — |  |  |  | 522,441 |  |  |  | 3,949 |
Asset-backed securities |  |  | — |  |  |  | — |  |  |  | 363,618 |  |  |  | 5,703 |  |  |  | 363,618 |  |  |  | 5,703 |
Municipal bonds |  |  | — |  |  |  | — |  |  |  | 8,891 |  |  |  | 90 |  |  |  | 8,891 |  |  |  | 90 |
Corporate bonds |  |  | 72,024 |  |  |  | 2,976 |  |  |  | 246,528 |  |  |  | 3,471 |  |  |  | 318,552 |  |  |  | 6,447 |
Foreign notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Capital trust notes |  |  | — |  |  |  | — |  |  |  | 33,393 |  |  |  | 10,500 |  |  |  | 33,393 |  |  |  | 10,500 |
Equity securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total temporarily impaired securities |  | $ | 1,095,548 |  |  | $ | 9,868 |  |  | $ | 725,998 |  |  | $ | 19,829 |  |  | $ | 1,821,546 |  |  | $ | 29,697 |
| The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2020:
|  | Less than Twelve Months |  |  | Twelve Months or Longer |  |  | Total |
(in thousands) |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily Impaired Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury obligations |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
GSE certificates |  |  | 58,876 |  |  |  | 136 |  |  |  | — |  |  |  | — |  |  |  | 58,876 |  |  |  | 136 |
GSE CMOs |  |  | 442,207 |  |  |  | 2,807 |  |  |  | 73,568 |  |  |  | 65 |  |  |  | 515,775 |  |  |  | 2,872 |
GSE debenture |  |  | 522,441 |  |  |  | 3,949 |  |  |  | — |  |  |  | — |  |  |  | 522,441 |  |  |  | 3,949 |
Asset-backed securities |  |  | — |  |  |  | — |  |  |  | 363,618 |  |  |  | 5,703 |  |  |  | 363,618 |  |  |  | 5,703 |
Municipal bonds |  |  | — |  |  |  | — |  |  |  | 8,891 |  |  |  | 90 |  |  |  | 8,891 |  |  |  | 90 |
Corporate bonds |  |  | 72,024 |  |  |  | 2,976 |  |  |  | 246,528 |  |  |  | 3,471 |  |  |  | 318,552 |  |  |  | 6,447 |
Foreign notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Capital trust notes |  |  | — |  |  |  | — |  |  |  | 33,393 |  |  |  | 10,500 |  |  |  | 33,393 |  |  |  | 10,500 |
Equity securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total temporarily impaired securities |  | $ | 1,095,548 |  |  | $ | 9,868 |  |  | $ | 725,998 |  |  | $ | 19,829 |  |  | $ | 1,821,546 |  |  | $ | 29,697 |
The following table presents securities having a continuous unrealized loss position for less than twelve months and for twelve months or longer as of December 31, 2019:
|  | Less than Twelve Months |  |  | Twelve Months or Longer |  |  | Total |
(in thousands) |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily Impaired Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Treasury Obligations |  | $ | 11,917 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11,917 |  |  | $ | — |
GSE debentures |  |  | 297,179 |  |  |  | 3,916 |  |  |  | 138,189 |  |  |  | 1,396 |  |  |  | 435,368 |  |  |  | 5,312 |
GSE certificates |  |  | 396,930 |  |  |  | 3,718 |  |  |  | 7,542 |  |  |  | 45 |  |  |  | 404,472 |  |  |  | 3,763 |
GSE CMOs |  |  | 609,502 |  |  |  | 2,582 |  |  |  | 133,955 |  |  |  | 959 |  |  |  | 743,457 |  |  |  | 3,541 |
Asset-backed securities |  |  | 256,619 |  |  |  | 7,701 |  |  |  | 116,635 |  |  |  | 3,154 |  |  |  | 373,254 |  |  |  | 10,855 |
Municipal bonds |  |  | — |  |  |  | — |  |  |  | 9,349 |  |  |  | 475 |  |  |  | 9,349 |  |  |  | 475 |
Corporate bonds |  |  | 99,300 |  |  |  | 700 |  |  |  | 172,717 |  |  |  | 2,282 |  |  |  | 272,017 |  |  |  | 2,982 |
Capital trust notes |  |  | — |  |  |  | — |  |  |  | 37,525 |  |  |  | 6,306 |  |  |  | 37,525 |  |  |  | 6,306 |
Equity securities |  |  | — |  |  |  | — |  |  |  | 11,633 |  |  |  | 173 |  |  |  | 11,633 |  |  |  | 173 |
Total temporarily impaired securities |  | $ | 1,671,447 |  |  | $ | 18,617 |  |  | $ | 627,545 |  |  | $ | 14,790 |  |  | $ | 2,298,992 |  |  | $ | 33,407 |

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