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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Values of Investment Securities
The following table presents the amortized cost and estimated fair values of investment securities, which were all classified as available for sale:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
(in thousands)
June 30, 2017
 
 
 
 
 
 
 
U.S. Government sponsored agency securities
$
5,960

 
$
94

 
$
—

 
$
6,054

State and municipal securities
405,035

 
3,726

 
(7,125
)
 
401,636

Corporate debt securities
88,887

 
2,531

 
(2,426
)
 
88,992

Collateralized mortgage obligations
546,847

 
1,399

 
(9,739
)
 
538,507

Residential mortgage-backed securities
1,218,257

 
5,782

 
(10,974
)
 
1,213,065

Commercial mortgage-backed securities
121,012

 
390

 
(335
)
 
121,067

Auction rate securities
107,410

 
—

 
(9,487
)
 
97,923

   Total debt securities
2,493,408

 
13,922

 
(40,086
)
 
2,467,244

Equity securities
10,487

 
10,968

 
—

 
21,455

   Total
$
2,503,895

 
$
24,890

 
$
(40,086
)
 
$
2,488,699

 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
(in thousands)
December 31, 2016
 
 
 
 
 
 
 
U.S. Government sponsored agency securities
$
132

 
$
2

 
$
—

 
$
134

State and municipal securities
405,274

 
2,043

 
(15,676
)
 
391,641

Corporate debt securities
112,016

 
1,978

 
(4,585
)
 
109,409

Collateralized mortgage obligations
604,095

 
1,943

 
(12,178
)
 
593,860

Residential mortgage-backed securities
1,328,192

 
6,546

 
(16,900
)
 
1,317,838

Commercial mortgage-backed securities
25,100

 
—

 
(537
)
 
24,563

Auction rate securities
107,215

 
—

 
(9,959
)
 
97,256

   Total debt securities
2,582,024

 
12,512

 
(59,835
)
 
2,534,701

Equity securities
12,231

 
12,295

 
—

 
24,526

   Total
$
2,594,255

 
$
24,807

 
$
(59,835
)
 
$
2,559,227
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 June 30, 2017, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities as certain investment securities are subject to call or prepayment with or without call or prepayment penalties.
 
 
Amortized
Cost
 
Estimated
Fair Value
 
(in thousands)
Due in one year or less
 
$
20,103

 
$
20,336

Due from one year to five years
 
27,967

 
28,335

Due from five years to ten years
 
111,883

 
113,050

Due after ten years
 
447,339

 
432,884

 
 
607,292

 
594,605

Residential mortgage-backed securities
 
1,218,257

 
1,213,065

Commercial mortgage-backed securities
 
121,012

 
121,067

Collateralized mortgage obligations
 
546,847

 
538,507

  Total debt securities
 
$
2,493,408

 
$
2,467,244
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 the gross realized gains and losses on the sales of equity and debt securities:
 
Gross
Realized
Gains
 
Gross
Realized
Losses
 
Net Gains (Losses)
Three months ended June 30, 2017
(in thousands)
Equity securities
$
1,305

 
$
—

 
$
1,305

Debt securities
145

 
(14
)
 
131

Total
$
1,450

 
$
(14
)
 
$
1,436

Three months ended June 30, 2016
 
 
 
 
 
Equity securities
$
4

 
$
(10
)
 
$
(6
)
Debt securities
108

 
(26
)
 
82

Total
$
112

 
$
(36
)
 
$
76

 
 
 
 
 
 
Six months ended June 30, 2017
 
 
 
 
 
Equity securities
$
2,350

 
$
—

 
$
2,350

Debt securities
206

 
(14
)
 
192

Total
$
2,556

 
$
(14
)
 
$
2,542

Six months ended June 30, 2016
 
 
 
 
 
Equity securities
$
737

 
$
(10
)
 
$
727

Debt securities
322

 
(26
)
 
296

Total
$
1,059

 
$
(36
)
 
$
1,023
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, at June 30, 2017 and December 31, 2016:
 
Less than 12 months
 
12 months or longer
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
June 30, 2017
(in thousands)
State and municipal securities
$
214,497

 
$
(7,125
)
 
$
—

 
$
—

 
$
214,497

 
$
(7,125
)
Corporate debt securities
4,020

 
(9
)
 
32,148

 
(2,417
)
 
36,168

 
(2,426
)
Collateralized mortgage obligations
144,523

 
(3,057
)
 
231,936

 
(6,682
)
 
376,459

 
(9,739
)
Residential mortgage-backed securities
896,206

 
(10,974
)
 
—

 
—

 
896,206

 
(10,974
)
Commercial mortgage-backed securities
68,546

 
(335
)
 
—

 
—

 
68,546

 
(335
)
Auction rate securities
—

 
—

 
97,923

 
(9,487
)
 
97,923

 
(9,487
)
Total debt securities
$
1,327,792

 
$
(21,500
)
 
$
362,007

 
$
(18,586
)
 
$
1,689,799

 
$
(40,086
)

 
Less than 12 months
 
12 months or longer
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
December 31, 2016
(in thousands)
State and municipal securities
$
247,509

 
$
(15,676
)
 
$
—

 
$
—

 
$
247,509

 
$
(15,676
)
Corporate debt securities
11,922

 
(110
)
 
34,629

 
(4,475
)
 
46,551

 
(4,585
)
Collateralized mortgage obligations
166,905

 
(3,899
)
 
258,237

 
(8,279
)
 
425,142

 
(12,178
)
Residential mortgage-backed securities
1,112,947

 
(16,900
)
 
—

 
—

 
1,112,947

 
(16,900
)
Commercial mortgage-backed securities
24,563

 
(537
)
 
—

 
—

 
24,563

 
(537
)
Auction rate securities
—

 
—

 
97,256

 
(9,959
)
 
97,256

 
(9,959
)
Total debt securities
$
1,563,846

 
$
(37,122
)
 
$
390,122

 
$
(22,713
)
 
$
1,953,968

 
$
(59,835
)
Summary of Amortized Cost and Fair Values of Corporate Debt Securities
The following table presents the amortized cost and estimated fair value of corporate debt securities:
 
June 30, 2017
 
December 31, 2016
 
Amortized
cost
 
Estimated
fair value
 
Amortized
cost
 
Estimated
fair value
 
(in thousands)
Single-issuer trust preferred securities
$
43,795

 
$
42,478

 
$
43,746

 
$
39,829

Subordinated debt
29,069

 
29,697

 
46,231

 
46,723

Senior debt
12,035

 
12,407

 
18,037

 
18,433

Pooled trust preferred securities
—

 
422

 
—

 
422

Corporate debt securities issued by financial institutions
84,899

 
85,004

 
108,014

 
105,407

Other corporate debt securities
3,988

 
3,988

 
4,002

 
4,002

Available for sale corporate debt securities
$
88,887

 
$
88,992

 
$
112,016

 
$
109,409