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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2018
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, as of December 31:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (in thousands)
2018 |  |  |  |  |  |  |
Available for Sale |  |  |  |  |  |  |
U.S. Government sponsored agency securities | $ | 31,586 |  |  | $ | 185 |  |  | $ | (139 | ) |  | $ | 31,632 |
State and municipal securities | 282,383 |  |  | 2,178 |  |  | (5,466 | ) |  | 279,095 |
Corporate debt securities | 111,454 |  |  | 1,432 |  |  | (3,353 | ) |  | 109,533 |
Collateralized mortgage obligations | 841,294 |  |  | 2,758 |  |  | (11,972 | ) |  | 832,080 |
Residential mortgage-backed securities | 476,973 |  |  | 1,583 |  |  | (15,212 | ) |  | 463,344 |
Commercial mortgage-backed securities | 264,165 |  |  | 524 |  |  | (3,073 | ) |  | 261,616 |
Auction rate securities | 107,410 |  |  | — |  |  | (4,416 | ) |  | 102,994 |
Total | $ | 2,115,265 |  |  | $ | 8,660 |  |  | $ | (43,631 | ) |  | $ | 2,080,294 |
Held to Maturity |  |  |  |  |  |  |
State and municipal securities | $ | 156,134 |  |  | $ | 1,166 |  |  | $ | (93 | ) |  | $ | 157,207 |
Residential mortgage-backed securities | 450,545 |  |  | 3,667 |  |  | — |  |  | 454,212 |
Total | $ | 606,679 |  |  | $ | 4,833 |  |  | $ | (93 | ) |  | $ | 611,419 |
2017 |  |  |  |  |  |  |
Available for Sale |  |  |  |  |  |  |
U.S. Government sponsored agency securities | $ | 5,962 |  |  | $ | 2 |  |  | $ | (26 | ) |  | $ | 5,938 |
State and municipal securities | 405,860 |  |  | 5,638 |  |  | (2,549 | ) |  | 408,949 |
Corporate debt securities | 96,353 |  |  | 2,832 |  |  | (1,876 | ) |  | 97,309 |
Collateralized mortgage obligations | 611,927 |  |  | 491 |  |  | (9,795 | ) |  | 602,623 |
Residential mortgage-backed securities | 1,132,080 |  |  | 3,957 |  |  | (15,241 | ) |  | 1,120,796 |
Commercial mortgage-backed securities | 215,351 |  |  | — |  |  | (2,596 | ) |  | 212,755 |
Auction rate securities | 107,410 |  |  | — |  |  | (8,742 | ) |  | 98,668 |
Total debt securities | 2,574,943 |  |  | 12,920 |  |  | (40,825 | ) |  | 2,547,038 |
Equity securities | 776 |  |  | 142 |  |  | — |  |  | 918 |
Total | $ | 2,575,719 |  |  | $ | 13,062 |  |  | $ | (40,825 | ) |  | $ | 2,547,956 |
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, 2018, 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.
| Available for Sale |  | Held to Maturity
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
| (in thousands)
Due in one year or less | $ | 6,738 |  |  | $ | 6,740 |  |  | $ | — |  |  | $ | — |
Due from one year to five years | 69,672 |  |  | 70,182 |  |  | — |  |  | — |
Due from five years to ten years | 108,091 |  |  | 106,709 |  |  | — |  |  | — |
Due after ten years | 348,332 |  |  | 339,623 |  |  | 156,134 |  |  | 157,207 |
| 532,833 |  |  | 523,254 |  |  | 156,134 |  |  | 157,207 |
Residential mortgage-backed securities(1) | 476,973 |  |  | 463,344 |  |  | 450,545 |  |  | 454,212 |
Commercial mortgage-backed securities(1) | 841,294 |  |  | 832,080 |  |  | — |  |  | — |
Collateralized mortgage obligations (1) | 264,165 |  |  | 261,616 |  |  | — |  |  | — |
Total | $ | 2,115,265 |  |  | $ | 2,080,294 |  |  | $ | 606,679 |  |  | $ | 611,419 |
(1) | Maturities for mortgage-backed securities and collateralized mortgage obligations are dependent upon the interest rate environment and prepayments on the underlying loans.
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:
| Gross Realized Gains |  | Gross Realized Losses |  | Net Gains (Losses)
| (in thousands)
2018: |  |  |  |  |
Equity securities | $ | 9 |  |  | $ | — |  |  | $ | 9 |
Debt securities | 1,656 |  |  | (1,628 | ) |  | 28 |
Total | $ | 1,665 |  |  | $ | (1,628 | ) |  | $ | 37 |
2017: |  |  |  |  |
Equity securities | $ | 13,558 |  |  | $ | — |  |  | $ | 13,558 |
Debt securities | 315 |  |  | (4,802 | ) |  | (4,487 | )
Total | $ | 13,873 |  |  | $ | (4,802 | ) |  | $ | 9,071 |
2016: |  |  |  |  |
Equity securities | $ | 2,005 |  |  | $ | (10 | ) |  | $ | 1,995 |
Debt securities | 581 |  |  | (26 | ) |  | 555 |
Total | $ | 2,586 |  |  | $ | (36 | ) |  | $ | 2,550 |
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, 2018.
| Less Than 12 months |  | 12 Months or Longer |  | Total
| Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
| (in thousands)
Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored agency securities | 1 |  |  | $ | 4,961 |  |  | $ | (31 | ) |  | 1 |  |  | $ | 5,770 |  |  | $ | (108 | ) |  | $ | 10,731 |  |  | $ | (139 | )
State and municipal securities | 33 |  |  | 72,950 |  |  | (1,292 | ) |  | 38 |  |  | 83,770 |  |  | (4,174 | ) |  | 156,720 |  |  | (5,466 | )
Corporate debt securities | 8 |  |  | 24,419 |  |  | (227 | ) |  | 14 |  |  | 25,642 |  |  | (3,126 | ) |  | 50,061 |  |  | (3,353 | )
Collateralized mortgage obligations | 39 |  |  | 136,563 |  |  | (1,050 | ) |  | 89 |  |  | 388,173 |  |  | (10,922 | ) |  | 524,736 |  |  | (11,972 | )
Residential mortgage-backed securities | 17 |  |  | 18,220 |  |  | (222 | ) |  | 110 |  |  | 402,779 |  |  | (14,990 | ) |  | 420,999 |  |  | (15,212 | )
Commercial mortgage-backed securities | 1 |  |  | 9,778 |  |  | (35 | ) |  | 25 |  |  | 197,326 |  |  | (3,038 | ) |  | 207,104 |  |  | (3,073 | )
Auction rate securities | — |  |  | — |  |  | — |  |  | 177 |  |  | 102,994 |  |  | (4,416 | ) |  | 102,994 |  |  | (4,416 | )
Total available for sale | 99 |  |  | $ | 266,891 |  |  | $ | (2,857 | ) |  | 454 |  |  | $ | 1,206,454 |  |  | $ | (40,774 | ) |  | $ | 1,473,345 |  |  | $ | (43,631 | )
Held to Maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal securities | 6 |  |  | $ | 20,601 |  |  | $ | (93 | ) |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 20,601 |  |  | $ | (93 | )
Total held to maturity | 6 |  |  | $ | 20,601 |  |  | $ | (93 | ) |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 20,601 |  |  | $ | (93 | )
For comparative purposes, the following table presents gross unrealized losses and the estimated fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2017.
| Less Than 12 months |  |  |  | 12 Months or Longer |  | Total
| Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
| (in thousands)
Available for Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government sponsored agency securities | 2 |  |  | $ | 5,830 |  |  | $ | (26 | ) |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,830 |  |  | $ | (26 | )
State and municipal securities | 4 |  |  | 11,650 |  |  | (50 | ) |  | 48 |  |  | 118,297 |  |  | (2,499 | ) |  | 129,947 |  |  | (2,549 | )
Corporate debt securities | 1 |  |  | 4,544 |  |  | (48 | ) |  | 19 |  |  | 32,163 |  |  | (1,828 | ) |  | 36,707 |  |  | (1,876 | )
Collateralized mortgage obligations | 60 |  |  | 303,932 |  |  | (2,408 | ) |  | 57 |  |  | 187,690 |  |  | (7,387 | ) |  | 491,622 |  |  | (9,795 | )
Residential mortgage-backed securities | 116 |  |  | 511,378 |  |  | (4,348 | ) |  | 89 |  |  | 500,375 |  |  | (10,893 | ) |  | 1,011,753 |  |  | (15,241 | )
Commercial mortgage-backed securities | 22 |  |  | 190,985 |  |  | (2,118 | ) |  | 3 |  |  | 21,770 |  |  | (478 | ) |  | 212,755 |  |  | (2,596 | )
Auction rate securities | — |  |  | — |  |  | — |  |  | 177 |  |  | 98,668 |  |  | (8,742 | ) |  | 98,668 |  |  | (8,742 | )
Total | 205 |  |  | $ | 1,028,319 |  |  | $ | (8,998 | ) |  | 393 |  |  | $ | 958,963 |  |  | $ | (31,827 | ) |  | $ | 1,987,282 |  |  | $ | (40,825 | )

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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