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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Values of Investment Securities | The following tables present the amortized cost and estimated fair values of investment securities, which were all classified as available for sale, as of December 31:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (in thousands)
2014 |  |  |  |  |  |  |
Equity securities | $ | 33,469 |  |  | $ | 14,167 |  |  | $ | (13 | ) |  | $ | 47,623 |
U.S. Government securities | 200 |  |  | — |  |  | — |  |  | 200 |
U.S. Government sponsored agency securities | 209 |  |  | 5 |  |  | — |  |  | 214 |
State and municipal securities | 238,250 |  |  | 7,231 |  |  | (266 | ) |  | 245,215 |
Corporate debt securities | 99,016 |  |  | 5,126 |  |  | (6,108 | ) |  | 98,034 |
Collateralized mortgage obligations | 917,395 |  |  | 5,705 |  |  | (20,787 | ) |  | 902,313 |
Mortgage-backed securities | 914,797 |  |  | 16,978 |  |  | (2,944 | ) |  | 928,831 |
Auction rate securities | 108,751 |  |  | — |  |  | (7,810 | ) |  | 100,941 |
| $ | 2,312,087 |  |  | $ | 49,212 |  |  | $ | (37,928 | ) |  | $ | 2,323,371 |
2013 |  |  |  |  |  |  |
Equity securities | $ | 33,922 |  |  | $ | 12,355 |  |  | $ | (76 | ) |  | $ | 46,201 |
U.S. Government securities | 525 |  |  | — |  |  | — |  |  | 525 |
U.S. Government sponsored agency securities | 720 |  |  | 7 |  |  | (1 | ) |  | 726 |
State and municipal securities | 281,810 |  |  | 6,483 |  |  | (3,444 | ) |  | 284,849 |
Corporate debt securities | 100,468 |  |  | 5,685 |  |  | (7,404 | ) |  | 98,749 |
Collateralized mortgage obligations | 1,069,138 |  |  | 8,036 |  |  | (44,776 | ) |  | 1,032,398 |
Mortgage-backed securities | 949,328 |  |  | 13,881 |  |  | (17,497 | ) |  | 945,712 |
Auction rate securities | 172,299 |  |  | 234 |  |  | (13,259 | ) |  | 159,274 |
| $ | 2,608,210 |  |  | $ | 46,681 |  |  | $ | (86,457 | ) |  | $ | 2,568,434 |
Schedule of Amortized Cost and Fair Values of Debt Securities by Contractual Maturities | The amortized cost and estimated fair values of debt securities as of December 31, 2014, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
| Amortized Cost |  | Estimated Fair Value
| (in thousands)
Due in one year or less | $ | 16,698 |  |  | $ | 16,851 |
Due from one year to five years | 76,704 |  |  | 80,142 |
Due from five years to ten years | 170,783 |  |  | 175,687 |
Due after ten years | 182,241 |  |  | 171,924 |
| 446,426 |  |  | 444,604 |
Collateralized mortgage obligations | 917,395 |  |  | 902,313 |
Mortgage-backed securities | 914,797 |  |  | 928,831 |
| $ | 2,278,618 |  |  | $ | 2,275,748 |
Summary of Gains and Losses from Equity and Debt Securities, and Losses Recognized from Other-than-Temporary Impairment | The following table presents information related to gross gains and losses on the sales of equity and debt securities, and losses recognized for other-than-temporary impairment of investments:
| Gross Realized Gains |  | Gross Realized Losses |  | Other- than- temporary Impairment Losses |  | Net Gains
| (in thousands)
2014: |  |  |  |  |  |  |
Equity securities | $ | 335 |  |  | $ | — |  |  | $ | (12 | ) |  | $ | 323 |
Debt securities | 2,058 |  |  | (322 | ) |  | (18 | ) |  | 1,718 |
Total | $ | 2,393 |  |  | $ | (322 | ) |  | $ | (30 | ) |  | $ | 2,041 |
2013: |  |  |  |  |  |  |
Equity securities | $ | 4,391 |  |  | $ | (28 | ) |  | $ | (27 | ) |  | $ | 4,336 |
Debt securities | 3,787 |  |  | (22 | ) |  | (97 | ) |  | 3,668 |
Total | $ | 8,178 |  |  | $ | (50 | ) |  | $ | (124 | ) |  | $ | 8,004 |
2012: |  |  |  |  |  |  |
Equity securities | $ | 2,620 |  |  | $ | — |  |  | $ | (356 | ) |  | $ | 2,264 |
Debt securities | 1,215 |  |  | — |  |  | (453 | ) |  | 762 |
Total | $ | 3,835 |  |  | $ | — |  |  | $ | (809 | ) |  | $ | 3,026 |
Summary Of Other Than Temporary Impairment Charges Recorded In Statement Of Operations | The following table presents a summary of other-than-temporary impairment charges recorded as decreases to investment securities gains on the consolidated statements of income, by investment security type:
| 2014 |  | 2013 |  | 2012
| (in thousands)
Equity securities - financial institution stocks | $ | 12 |  |  | $ | 27 |  |  | $ | 356 |
Pooled trust preferred securities | 18 |  |  | 97 |  |  | 19 |
Auction rate securities | — |  |  | — |  |  | 434 |
Total debt securities | 18 |  |  | 97 |  |  | 453 |
Total other-than-temporary impairment charges | $ | 30 |  |  | $ | 124 |  |  | $ | 809 |
Summary of Cumulative Other-than-Temporary Impairment Charges Recognized in Earnings for Pooled Trust Preferred Securities Held | The following table presents a summary of the cumulative credit related other-than-temporary impairment charges, recognized as components of earnings, for debt securities held by the Corporation at December 31:
| 2014 |  | 2013 |  | 2012
| (in thousands)
Balance of cumulative credit losses on debt securities, beginning of year | $ | (20,691 | ) |  | $ | (23,079 | ) |  | $ | (22,781 | )
Additions for credit losses recorded which were not previously recognized as components of earnings | (18 | ) |  | (97 | ) |  | (453 | )
Reductions for securities sold during the period | 4,460 |  |  | 2,468 |  |  | — |
Reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security | 7 |  |  | 17 |  |  | 155 |
Balance of cumulative credit losses on debt securities, end of year | $ | (16,242 | ) |  | $ | (20,691 | ) |  | $ | (23,079 | )
Gross Unrealized Losses and Fair Values of Investments by Category and Length of Time in Continuous Unrealized Loss Position | The following table presents the gross unrealized losses and estimated fair values of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of December 31, 2014:
| Less Than 12 months |  | 12 Months or Longer |  | Total
| Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
| (in thousands)
State and municipal securities | 3,282 |  |  | (4 | ) |  | 19,640 |  |  | (262 | ) |  | 22,922 |  |  | (266 | )
Corporate debt securities | 4,952 |  |  | (17 | ) |  | 36,849 |  |  | (6,091 | ) |  | 41,801 |  |  | (6,108 | )
Collateralized mortgage obligations | 46,121 |  |  | (179 | ) |  | 592,119 |  |  | (20,608 | ) |  | 638,240 |  |  | (20,787 | )
Mortgage-backed securities | 36,791 |  |  | (40 | ) |  | 235,368 |  |  | (2,904 | ) |  | 272,159 |  |  | (2,944 | )
Auction rate securities | — |  |  | — |  |  | 100,941 |  |  | (7,810 | ) |  | 100,941 |  |  | (7,810 | )
Total debt securities | 91,146 |  |  | (240 | ) |  | 984,917 |  |  | (37,675 | ) |  | 1,076,063 |  |  | (37,915 | )
Equity securities | 5 |  |  | (1 | ) |  | 77 |  |  | (12 | ) |  | 82 |  |  | (13 | )
| $ | 91,151 |  |  | $ | (241 | ) |  | $ | 984,994 |  |  | $ | (37,687 | ) |  | $ | 1,076,145 |  |  | $ | (37,928 | )
Summary of Amortized Cost and Fair Values of Corporate Debt Securities | The majority of the Corporation’s available for sale corporate debt securities are issued by financial institutions. The following table presents the amortized cost and estimated fair values of corporate debt securities as of December 31:
| 2014 |  | 2013
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
| (in thousands)
Single-issuer trust preferred securities | $ | 47,569 |  |  | $ | 42,016 |  |  | $ | 47,481 |  |  | $ | 40,531 |
Subordinated debt | 47,530 |  |  | 50,023 |  |  | 47,405 |  |  | 50,327 |
Pooled trust preferred securities | 2,010 |  |  | 4,088 |  |  | 2,997 |  |  | 5,306 |
Corporate debt securities issued by financial institutions | 97,109 |  |  | 96,127 |  |  | 97,883 |  |  | 96,164 |
Other corporate debt securities | 1,907 |  |  | 1,907 |  |  | 2,585 |  |  | 2,585 |
Available for sale corporate debt securities | $ | 99,016 |  |  | $ | 98,034 |  |  | $ | 100,468 |  |  | $ | 98,749 |

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