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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Value of Investment Securities

The majority of securities held are traded in markets where similar assets are actively traded. Estimated fair values were obtained from an independent pricing service based upon market quotes.

		December 31, 2016
		Amortized Cost				Gross Unrealized Holding Gain				Gross Unrealized Holding Loss				Fair Value				Total Percent
		(Dollars in thousands)
Investment securities available-for-sale:
Government agency/GSE		$	2,750			$	2			$	-			$	2,752				0.12%
Residential mortgage-backed securities			1,822,168				18,812				(6,232)				1,834,748				80.81%
CMO/REMIC - residential			345,313				3,361				(1,485)				347,189				15.29%
Municipal bonds			80,137				889				(955)				80,071				3.53%
Other securities			5,506				200				-				5,706				0.25%
Total available-for-sale securities		$	2,255,874			$	23,264			$	(8,672)			$	2,270,466				100.00%
Investment securities held-to-maturity (1):
Government agency/GSE		$	182,648			$	362				(1,972)			$	181,038				20.03%
Residential mortgage-backed securities			193,699				-				(1,892)				191,807				21.25%
CMO			244,419				-				(6,808)				237,611				26.81%
Municipal bonds			290,910				776				(4,768)				286,918				31.91%
Total held-to-maturity securities		$	911,676			$	1,138			$	(15,440)			$	897,374				100.00%

		December 31, 2015
		Amortized Cost				Gross Unrealized Holding Gain				Gross Unrealized Holding Loss				Fair Value				Total Percent
		(Dollars in thousands)
Investment securities available-for-sale:
Government agency/GSE		$	5,752			$	-			$	(7)			$	5,745				0.24%
Residential mortgage-backed securities			1,788,857				26,001				(1,761)				1,813,097				76.55%
CMO/REMIC - residential			380,166				4,689				(1,074)				383,781				16.20%
Municipal bonds			157,940				3,036				(3)				160,973				6.80%
Other securities			5,000				50				-				5,050				0.21%
Total available-for-sale securities		$	2,337,715			$	33,776			$	(2,845)			$	2,368,646				100.00%
Investment securities held-to-maturity (1):
Government agency/GSE		$	293,338			$	1,176			$	(734)			$	293,780				34.47%
Residential mortgage-backed securities			232,053				-				(1,293)				230,760				27.27%
CMO			1,284				569				-				1,853				0.15%
Municipal bonds			324,314				3,051				(719)				326,646				38.11%
Total held-to-maturity securities		$	850,989			$	4,796			$	(2,746)			$	853,039				100.00%

(1) Securities held-to-maturity are presented in the consolidated balance sheets at amortized cost.

Summary of Interest Income Earned on Investment Securities

The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax.

		For the Year Ended December 31,
		2016				2015				2014
		(Dollars in thousands)
Investment securities available-for-sale:
Taxable		$	43,538			$	48,854			$	47,301
Tax-advantaged			4,164				14,336				20,913
Total interest income from available-for-sale securities			47,702				63,190				68,214
Investment securities held-to-maturity:
Taxable			10,183				4,451				164
Tax-advantaged			10,044				4,567				-
Total interest income from held-to-maturity securities			20,227				9,018				164
Total interest income from investment securities		$	67,929			$	72,208			$	68,378

Summary of Continuous Unrealized Loss Position of Securities

The tables below show the Company’s investment securities’ gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016 and 2015. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary.  

		December 31, 2016
		Less Than 12 Months								12 Months or Longer								Total
		Fair Value				Gross Unrealized Holding Losses				Fair Value				Gross Unrealized Holding Losses				Fair Value				Gross Unrealized Holding Losses
		(Dollars in thousands)
Investment securities available-for-sale:
Government agency/GSE		$	-			$	-			$	-			$	-			$	-			$	-
Residential mortgage-backed securities			583,143				(6,232)				-				-				583,143				(6,232)
CMO/REMIC - residential			128,595				(1,485)				-				-				128,595				(1,485)
Municipal bonds			23,255				(954)				5,981				(1)				29,236				(955)
Other securities			-				-				-				-				-				-
Total available-for-sale securities		$	734,993			$	(8,671)			$	5,981			$	(1)			$	740,974			$	(8,672)
Investment securities held-to-maturity:
Government agency/GSE		$	76,854			$	(1,972)			$	-			$	-			$	76,854			$	(1,972)
Residential mortgage-backed securities			191,807				(1,892)				-				-				191,807				(1,892)
CMO			237,611				(6,808)				-				-				237,611				(6,808)
Municipal bonds			145,804				(3,711)				36,971				(1,057)				182,775				(4,768)
Total held-to-maturity securities		$	652,076			$	(14,383)			$	36,971			$	(1,057)			$	689,047			$	(15,440)

		December 31, 2015
		Less Than 12 Months								12 Months or Longer								Total
		Fair Value				Gross Unrealized Holding Losses				Fair Value				Gross Unrealized Holding Losses				Fair Value				Gross Unrealized Holding Losses
		(Dollars in thousands)
Investment securities available-for-sale:
Government agency/GSE		$	5,745			$	(7)			$	-			$	-			$	5,745			$	(7)
Residential mortgage-backed securities			437,699				(1,761)				-				-				437,699				(1,761)
CMO/REMIC - residential			171,923				(1,074)				-				-				171,923				(1,074)
Municipal bonds			398				(2)				5,961				(1)				6,359				(3)
Other securities			-				-				-				-				-				-
Total available-for-sale securities		$	615,765			$	(2,844)			$	5,961			$	(1)			$	621,726			$	(2,845)
Investment securities held-to-maturity:
Government agency/GSE		$	84,495			$	(734)			$	-			$	-			$	84,495			$	(734)
Residential mortgage-backed securities			230,760				(1,293)				-				-				230,760				(1,293)
CMO			-				-				-				-				-				-
Municipal bonds			110,119				(719)				-				-				110,119				(719)
Total held-to-maturity securities		$	425,374			$	(2,746)			$	-			$	-			$	425,374			$	(2,746)

Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Mortgage-backed securities and CMO/REMIC are included in maturity categories based upon estimated prepayment speeds.

		December 31, 2016
		Available-for-sale								Held-to-maturity
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
		(Dollars in thousands)
Due in one year or less		$	16,863			$	17,004			$	-			$	-
Due after one year through five years			1,974,483				1,986,171				355,263				349,455
Due after five years through ten years			87,968				88,907				200,570				196,869
Due after ten years			176,560				178,384				355,843				351,050
Total investment securities		$	2,255,874			$	2,270,466			$	911,676			$	897,374

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Schedule Of Available For Sale Securities And Held To Maturity [Table Text Block]

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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.9)
-URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.2)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

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-Section S99
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-Subparagraph (SX 210.5-03.8)
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-Topic 225
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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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).

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-Name Accounting Standards Codification
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