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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Value of Investment Securities

The amortized cost and estimated fair value of investment securities are summarized below. 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, 2017
		Amortized Cost				Gross Unrealized Holding Gain				Gross Unrealized Holding Loss				Fair Value				Total Percent
		(Dollars in thousands)
Investment securities available-for-sale:
Residential mortgage-backed securities		$	1,747,780			$	11,231			$	(8,102)			$	1,750,909				84.14%
CMO/REMIC - residential			274,634				1,277				(2,082)				273,829				13.16%
Municipal bonds			54,966				774				(244)				55,496				2.66%
Other securities			751				-				-				751				0.04%
Total available-for-sale securities		$	2,078,131			$	13,282			$	(10,428)			$	2,080,985				100.00%
Investment securities held-to-maturity:
Government agency/GSE		$	159,716			$	854			$	(2,134)			$	158,436				19.25%
Residential mortgage-backed securities			176,427				667				(382)				176,712				21.26%
CMO			225,072				-				(8,641)				216,431				27.12%
Municipal bonds			268,675				2,751				(3,790)				267,636				32.37%
Total held-to-maturity securities		$	829,890			$	4,272			$	(14,947)			$	819,215				100.00%

		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:
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%

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,
		2017				2016				2015
		(Dollars in thousands)
Investment securities available-for-sale:
Taxable		$	47,596			$	43,538			$	48,854
Tax-advantaged			2,182				4,164				14,336
Total interest income from available-for-sale securities			49,778				47,702				63,190
Investment securities held-to-maturity:
Taxable			12,558				10,183				4,451
Tax-advantaged			8,457				10,044				4,567
Total interest income from held-to-maturity securities			21,015				20,227				9,018
Total interest income from investment securities		$	70,793			$	67,929			$	72,208

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, 2017 and 2016. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. The unrealized losses on these securities were primarily attributed to changes in interest rates. The issuers of these securities have not, to our knowledge, evidenced any cause for default on these securities. These securities have fluctuated in value since their purchase dates as market rates have fluctuated. However, we have the ability and the intention to hold these securities until their fair values recover to cost or maturity. As such, management does not deem these securities to be OTTI.

		December 31, 2017
		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:
Residential mortgage-backed securities		$	414,091			$	(1,828)			$	303,746			$	(6,274)			$	717,837			$	(8,102)
CMO/REMIC - residential			95,137				(487)				71,223				(1,595)				166,360				(2,082)
Municipal bonds			946				(4)				13,956				(240)				14,902				(244)
Total available-for-sale securities		$	510,174			$	(2,319)			$	388,925			$	(8,109)			$	899,099			$	(10,428)
Investment securities held-to-maturity:
Government agency/GSE		$	18,950			$	(27)			$	43,495			$	(2,107)			$	62,445			$	(2,134)
Residential mortgage-backed securities			51,297				(188)				55,306				(194)				106,603				(382)
CMO			-				-				216,431				(8,641)				216,431				(8,641)
Municipal bonds			32,069				(492)				66,217				(3,298)				98,286				(3,790)
Total held-to-maturity securities		$	102,316			$	(707)			$	381,449			$	(14,240)			$	483,765			$	(14,947)

		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:
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)
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)

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

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

		December 31, 2017
		Available-for-sale								Held-to-maturity
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
		(Dollars in thousands)
Due in one year or less		$	17,864			$	18,089			$	885			$	882
Due after one year through five years			1,929,815				1,932,602				175,899				173,251
Due after five years through ten years			96,678				96,200				271,579				268,426
Due after ten years			33,774				34,094				381,527				376,656
Total investment securities		$	2,078,131			$	2,080,985			$	829,890			$	819,215

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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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
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-Section S99
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-Subparagraph (SX 210.5-03.7(a),(b))
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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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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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