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Note 7 - Investment Securities | 9 Months Ended
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Sep. 30, 2019
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. Investment Securities The following tables set forth the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of September 30, 2019, and December 31, 2018:
|  | September 30, 2019 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |  |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
|  | (In thousands) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency entities |  | $ | 92,477 |  |  | $ | 750 |  |  | $ | 273 |  |  | $ | 92,954 |
U.S. government sponsored entities |  |  | 350,000 |  |  |  | — |  |  |  | 2,301 |  |  |  | 347,699 |
Mortgage-backed securities |  |  | 880,406 |  |  |  | 7,714 |  |  |  | 1,385 |  |  |  | 886,735 |
Collateralized mortgage obligations |  |  | 683 |  |  |  | — |  |  |  | 18 |  |  |  | 665 |
Corporate debt securities |  |  | 98,865 |  |  |  | 533 |  |  |  | 13 |  |  |  | 99,385 |
Total |  | $ | 1,422,431 |  |  | $ | 8,997 |  |  | $ | 3,990 |  |  | $ | 1,427,438 |
|  | December 31, 2018 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  |  |  |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
|  | (In thousands) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 124,801 |  |  | $ | — |  |  | $ | 50 |  |  | $ | 124,751 |
U.S. government agency entities |  |  | 6,066 |  |  |  | — |  |  |  | 195 |  |  |  | 5,871 |
U.S. government sponsored entities |  |  | 400,000 |  |  |  | — |  |  |  | 11,638 |  |  |  | 388,362 |
Mortgage-backed securities |  |  | 670,874 |  |  |  | 960 |  |  |  | 15,089 |  |  |  | 656,745 |
Collateralized mortgage obligations |  |  | 1,005 |  |  |  | — |  |  |  | 28 |  |  |  | 977 |
Corporate debt securities |  |  | 64,985 |  |  |  | 818 |  |  |  | — |  |  |  | 65,803 |
Total |  | $ | 1,267,731 |  |  | $ | 1,778 |  |  | $ | 27,000 |  |  | $ | 1,242,509 |
The amortized cost and fair value of securities available-for-sale as of September 30, 2019, by contractual maturities, are set forth in the tables below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or repayment penalties.
|  | September 30, 2019 |
|  | Securities Available-For-Sale |
|  | Amortized Cost |  |  | Fair Value |
|  | (In thousands) |
Due in one year or less |  | $ | 19,993 |  |  | $ | 20,103 |
Due after one year through five years |  |  | 429,449 |  |  |  | 427,578 |
Due after five years through ten years |  |  | 41,718 |  |  |  | 41,710 |
Due after ten years |  |  | 931,271 |  |  |  | 938,047 |
Total |  | $ | 1,422,431 |  |  | $ | 1,427,438 |
Equity Securities - The adoption of ASU 2016-01 resulted in approximately $8.6 million being reclassified from accumulated other comprehensive income to retained earnings, representing an increase to retained earnings as of January 1, 2018. The Company recognized a net gain of $0.4 million for the three months ended September 30, 2019, due to the increase in fair value of equity investments with readily determinable fair values compared to a net gain of $0.4 million for the three months ended September 30, 2018. The Company recognized a net gain of $7.8 million for the nine months ended September 30, 2019, due to the increase in fair value of equity investments with readily determinable fair values compared to a net loss of $4.6 million for the nine months ended September 30, 2018. Equity securities were $32.9 million and $25.1 million as of September 30, 2019 and December 31, 2018, respectively. The following tables set forth the gross unrealized losses and related fair value of the Company’s investment portfolio, aggregated by investment category and the length of time that individual security has been in a continuous unrealized loss position, as of September 30, 2019 and December 31, 2018:
|  | September 30, 2019 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  | (In thousands) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency entities |  | $ | 49,796 |  |  | $ | 108 |  |  | $ | 3,748 |  |  | $ | 165 |  |  | $ | 53,544 |  |  | $ | 273 |
U.S. government sponsored entities |  |  | — |  |  |  | — |  |  |  | 347,699 |  |  |  | 2,301 |  |  |  | 347,699 |  |  |  | 2,301 |
Mortgage-backed securities |  |  | 115,727 |  |  |  | 220 |  |  |  | 146,666 |  |  |  | 1,165 |  |  |  | 262,393 |  |  |  | 1,385 |
Collateralized mortgage obligations |  |  | — |  |  |  | — |  |  |  | 665 |  |  |  | 18 |  |  |  | 665 |  |  |  | 18 |
Corporate debt securities |  |  | 28,819 |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 28,819 |  |  |  | 13 |
Total |  | $ | 194,342 |  |  | $ | 341 |  |  | $ | 498,778 |  |  | $ | 3,649 |  |  | $ | 693,120 |  |  | $ | 3,990 |
|  | December 31, 2018 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  | (In thousands) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 124,751 |  |  | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | 124,751 |  |  | $ | 50 |
U.S. government agency entities |  |  | 3,388 |  |  |  | 77 |  |  |  | 2,483 |  |  |  | 118 |  |  |  | 5,871 |  |  |  | 195 |
U.S. government sponsored entities |  |  | — |  |  |  | — |  |  |  | 388,362 |  |  |  | 11,638 |  |  |  | 388,362 |  |  |  | 11,638 |
Mortgage-backed securities |  |  | 48,528 |  |  |  | 502 |  |  |  | 507,701 |  |  |  | 14,587 |  |  |  | 556,229 |  |  |  | 15,089 |
Collateralized mortgage obligations |  |  | — |  |  |  | — |  |  |  | 977 |  |  |  | 28 |  |  |  | 977 |  |  |  | 28 |
Total |  | $ | 176,667 |  |  | $ | 629 |  |  | $ | 899,523 |  |  | $ | 26,371 |  |  | $ | 1,076,190 |  |  | $ | 27,000 |
To the Company’s knowledge, the unrealized losses were primarily attributed to yield curve movement, together with widened liquidity spreads and credit spreads. The issuers have not, to the Company’s knowledge, established any cause for default on these securities. Management believes the gross unrealized losses detailed in the table above are temporary. The Company expects to recover the amortized cost basis of its securities and has no present intent to sell and will not be required to sell available-for-sale securities that have declined below their cost before their anticipated recovery. Accordingly, noother than temporary impairment write-downs were recorded on the Company’s Condensed Consolidated Statement of Operations and Comprehensive Income in the nine months ended September 30, 2019 and 2018. Securities available-for-sale having a carrying value of $20.8 million and $28.5 million as of September 30, 2019 and December 31, 2018, respectively, were pledged to secure public deposits, other borrowings and treasury tax and loan.

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