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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Approximate Fair Value of Investment Securities
The amortized cost and approximate fair value of investment securities as of December 31, 2018 and 2017, are summarized as follows:
 
December 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
311,267

 
$
—

 
$
(5,893
)
 
$
305,374

Corporate notes (1)
381,407

 
920

 
(24,407
)
 
357,920

Available-for-sale debt securities
$
692,674

 
$
920

 
$
(30,300
)
 
663,294

Equity securities (2)
 
 
 
 
 
 
1,718

Total investment securities, at fair value
 
 
 
 
 
 
$
665,012

(1)
Includes corporate securities issued by other bank holding companies.
(2)
Includes equity securities issued by a foreign entity that are being measured at fair value with changes in fair value recognized directly in earnings effective January 1, 2018 as a result of adopting ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (see NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION for additional information related to the adoption of this new standard).
 
December 31, 2017
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
186,221

 
$
36

 
$
(2,799
)
 
$
183,458

Agency-guaranteed commercial real estate mortgage-backed securities
238,809

 
432

 
(769
)
 
238,472

Corporate notes (1)
44,959

 
1,130

 
—

 
46,089

Equity securities (2)
2,311

 
1,041

 
—

 
3,352

Total available-for-sale securities, at fair value
$
472,300

 
$
2,639

 
$
(3,568
)
 
$
471,371

 
(1)
Includes subordinated debt issued by other bank holding companies.
(2)
Includes equity securities issued by a foreign entity.
Statement of Proceeds from Sale of Available for Sale Investment Securities
The following table shows proceeds from the sale of available-for-sale securities, gross gains and gross losses on those sales of securities:
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
(amounts in thousands)
 
 
 
 
 
Proceeds from sale of available-for-sale securities
$
476,182

 
$
769,203

 
$
2,852

Gross gains
$
—

 
$
8,808

 
$
26

Gross losses
(18,659
)
 
(8
)
 
(1
)
Net (losses) gains
$
(18,659
)
 
$
8,800

 
$
25
Summary of Investment Securities by Stated Maturity
The following table shows available-for-sale debt securities by stated maturity. Debt securities backed by mortgages have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and are, therefore, classified separately with no specific maturity date:
 
December 31, 2018
 
Available for Sale
 
Amortized
Cost
 
Fair
Value
(amounts in thousands)
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
—

 
—

Due after five years through ten years
329,096

 
308,578

Due after ten years
52,311

 
49,342

Agency-guaranteed residential mortgage-backed securities
311,267

 
305,374

Total available-for-sale debt securities
$
692,674

 
$
663,294
Gross Unrealized Losses and Fair Value, Aggregated by Investment Category
Gross unrealized losses and fair value of Customers' available-for-sale debt securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 and 2017 were as follows:
 
December 31, 2018
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
305,374

 
$
(5,893
)
 
$
—

 
$
—

 
$
305,374

 
$
(5,893
)
Corporate notes (1)
310,036

 
(24,407
)
 
—

 
—

 
310,036

 
(24,407
)
Total
$
615,410

 
$
(30,300
)
 
$
—

 
$
—

 
$
615,410

 
$
(30,300
)
(1)
Includes corporate securities issued by other bank holding companies.
 
December 31, 2017
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
 
 
 
 
Agency-guaranteed residential mortgage-backed securities
$
104,861

 
$
(656
)
 
$
66,579

 
$
(2,143
)
 
$
171,440

 
$
(2,799
)
Agency-guaranteed commercial mortgage-backed securities
115,970

 
(740
)
 
6,151

 
(29
)
 
122,121

 
(769
)
Total
$
220,831

 
$
(1,396
)
 
$
72,730

 
$
(2,172
)
 
$
293,561

 
$
(3,568
)