INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Investment Securities

The following table presents the amortized cost and fair value of the investment securities portfolio as of the dates indicated:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
December 31, 2015
Held-to-maturity
Corporate bonds	$	239,274	$	255	$	(20,946	)	$	218,583
Collateralized loan obligations	416,284		—		(5,077		)	411,207
Commercial mortgage-backed securities	306,645		41		(4,191		)	302,495
Total securities held-to-maturity	$	962,203	$	296	$	(30,214	)	$	932,285
Available-for-sale
SBA loan pool securities	$	1,485	$	19	$	—		$	1,504
Private label residential mortgage-backed securities	1,755		14		(1		)	1,768
Corporate bonds	26,657		—		(505		)	26,152
Collateralized loan obligations	111,719		31		(282		)	111,468
Agency mortgage-backed securities	697,152		134		(4,582		)	692,704
Total securities available-for-sale	$	838,768	$	198	$	(5,370	)	$	833,596
December 31, 2014
Available-for-sale
SBA loan pool securities	$	1,697	$	18	$	—		$	1,715
U.S. government-sponsored entities and agency securities	1,940		42		—			1,982
Private label residential mortgage-backed securities	3,169		12		(13		)	3,168
Agency mortgage-backed securities	338,072		1,363		(605		)	338,830
Total securities available-for-sale	$	344,878	$	1,435	$	(618	)	$	345,695

Summary of Amortized Cost and Fair Value of Available-for-Sale Investment Securities Portfolio

The following table presents amortized cost and fair value of the held-to-maturity and available-for-sale investment securities portfolio by expected maturity. In the case of mortgage-backed securities, collateralized loan obligations, and SBA loan pool securities, expected maturities may differ from contractual maturities because borrowers generally have the right to call or prepay obligations with or without call or prepayment penalties. For that reason, mortgage-backed securities, collateralized loan obligations, and SBA loan pool securities are not included in the maturity categories.



	December 31, 2015
	Held-to-Maturity				Available-for-Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Maturity:
Within one year	$	—	$	—	$	—	$	—
One to five years	—		—		—		—
Five to ten years	212,219		193,080		26,657		26,152
Greater than ten years	27,055		25,503		—		—
Collateralized loan obligations, SBA loan pool, private label residential mortgage-backed, commercial mortgage-backed, and agency mortgage-backed securities	722,929		713,702		812,111		807,444
Total	$	962,203	$	932,285	$	838,768	$	833,596

Proceeds from Sales and Calls of Securities and Associated Gross Gains and Losses

The following table presents proceeds from sales and calls of securities and the associated gross gains and losses realized through earnings upon the sale of available-for-sale securities for the periods indicated:



	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Gross realized gains on sales of securities available-for-sale	$	3,260		$	1,221		$	438
Gross realized losses on sales of securities available-for-sale	(2		)	(38		)	(107		)
Net realized gains on sales of securities available-for-sale	$	3,258		$	1,183		$	331
Proceeds from sales of securities available-for-sale	$	989,786		$	111,764		$	127,298
Tax expense on sales of securities available-for-sale	$	1,368		$	498		$	—

Summary of Investment Securities with Unrealized Losses

The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position as of the dates indicated:



	Less Than 12 Months					12 Months or Longer					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In thousands)
December 31, 2015
Held-to-maturity
Corporate bonds	$	190,332	$	(20,946	)	$	—	$	—		$	190,332	$	(20,946	)
Collateralized loan obligation	411,207		(5,077		)	—		—			411,207		(5,077		)
Commercial mortgage-backed securities	277,351		(4,191		)	—		—			277,351		(4,191		)
Total securities held-to-maturity	$	878,890	$	(30,214	)	$	—	$	—		$	878,890	$	(30,214	)
Available-for-sale
Private label residential mortgage-backed securities	$	—	$	—		$	403	$	(1	)	$	403	$	(1	)
Corporate bonds	26,152		(505		)	—		—			26,152		(505		)
Collateralized loan obligation	72,204		(282		)	—		—			72,204		(282		)
Agency mortgage-backed securities	599,814		(4,459		)	6,832		(123		)	606,646		(4,582		)
Total securities available-for-sale	$	698,170	$	(5,246	)	$	7,235	$	(124	)	$	705,405	$	(5,370	)
December 31, 2014
Available-for-sale
Private label residential mortgage-backed securities	$	372	$	(9	)	$	1,355	$	(4	)	$	1,727	$	(13	)
Agency mortgage-backed securities	68,200		(332		)	22,212		(273		)	90,412		(605		)
Total securities available-for-sale	$	68,572	$	(341	)	$	23,567	$	(277	)	$	92,139	$	(618	)