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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2019
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, 2019 and 2018 are summarized as follows:
| December 31, 2019 |  |  |  |  |  |
(amounts in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available for sale debt securities |  |  |  |  |  |  |
Agency-guaranteed residential mortgage-backed securities | $ | 273,252 |  |  | $ | 5,069 |  |  | $ | — |  |  | $ | 278,321 |
Corporate notes (1) | 284,639 |  |  | 14,238 |  |  | — |  |  | 298,877 |
Available for sale debt securities | $ | 557,891 |  |  | $ | 19,307 |  |  | $ | — |  |  | 577,198 |
Interest-only GNMA securities (2) |  |  |  |  |  |  | 16,272 |
Equity securities (3) |  |  |  |  |  |  | 2,406 |
Total investment securities, at fair value |  |  |  |  |  |  | $ | 595,876 |
| December 31, 2018 |  |  |  |  |  |
(amounts in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available for sale 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 (3) |  |  |  |  |  |  |  |  |  | 1,718 |
Total investment securities, at fair value |  |  |  |  |  |  |  |  |  | $ | 665,012 |
(1)At December 31, 2019, includes corporate securities issued by domestic bank holding companies. At December 31, 2018, includes corporate securities issued by other domestic and foreign bank holding companies. (2)Reported at fair value with fair value changes recorded in non-interest income based on fair value option election. (3)Includes equity securities issued by a foreign entity.
Statement of Proceeds from Sale of Available for Sale Investment Securities | The following table presents proceeds from the sale of available for sale debt securities and gross gains and gross losses realized on those sales:
| For the Years Ended December 31, |  |  |  |
(amounts in thousands) | 2019 |  | 2018 |  | 2017
Proceeds from sale of available for sale debt securities | $ | 97,555 |  |  | $ | 476,182 |  |  | $ | 769,203 |
Gross gains | $ | 1,931 |  |  | $ | — |  |  | $ | 8,808 |
Gross losses | (930) |  |  | (18,659) |  |  | (8) |
Net gains (losses) | $ | 1,001 |  |  | $ | (18,659) |  |  | $ | 8,800 |
Summary of Investment Securities by Stated Maturity | The following table presents debt securities by stated maturity. Debt securities backed by mortgages and interest-only GNMA securities have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and, therefore, these debt securities are classified separately with no specific maturity date:
| December 31, 2019 |  |
(amounts in thousands) | Amortized Cost |  | Fair Value
Due in one year or less | $ | — |  |  | $ | — |
Due after one year through five years | 15,000 |  |  | 15,206 |
Due after five years through ten years | 267,639 |  |  | 281,607 |
Due after ten years | 2,000 |  |  | 2,064 |
Agency-guaranteed residential mortgage-backed securities | 273,252 |  |  | 278,321 |
Interest-only classes of agency-guaranteed home equity conversion mortgage-backed securities | — |  |  | 16,272 |
Total debt securities | $ | 557,891 |  |  | $ | 593,470 |
Gross Unrealized Losses and Fair Value, Aggregated by Investment Category | At December 31, 2019, there were no available for sale debt securities in an unrealized loss position. 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 were as follows:
| December 31, 2018 |  |  |  |  |  |  |  |  |  |
| Less than 12 months |  |  |  | 12 months or more |  |  |  | Total |  |
(amounts in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Available for sale debt securities |  |  |  |  |  |  |  |  |  |  |
Agency-guaranteed residential mortgage-backed securities | $ | 305,374 |  |  | $ | (5,893) |  |  | $ | — |  |  | $ | — |  |  | $ | 305,374 |  |  | $ | (5,893) |
Corporate notes | 310,036 |  |  | (24,407) |  |  | — |  |  | — |  |  | 310,036 |  |  | (24,407) |
Total | $ | 615,410 |  |  | $ | (30,300) |  |  | $ | — |  |  | $ | — |  |  | $ | 615,410 |  |  | $ | (30,300) |

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