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Securities (Tables) | 12 Months Ended
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Dec. 31, 2014
Securities [Abstract] |
Amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale | The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:
(In thousands) |  | Amortized cost |  |  | Unrealized gains |  |  | Unrealized losses |  |  | Estimated fair value |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 23,041 |  |  | $ | 70 |  |  | $ | - |  |  | $ | 23,111 |
Federal agency |  |  | 332,193 |  |  |  | 327 |  |  |  | 2,606 |  |  |  | 329,914 |
State & municipal |  |  | 37,035 |  |  |  | 587 |  |  |  | 52 |  |  |  | 37,570 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 339,190 |  |  |  | 7,597 |  |  |  | 224 |  |  |  | 346,563 |
U.S. government agency securities |  |  | 17,367 |  |  |  | 863 |  |  |  | 66 |  |  |  | 18,164 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 199,837 |  |  |  | 1,828 |  |  |  | 234 |  |  |  | 201,431 |
U.S. government agency securities |  |  | 40,237 |  |  |  | 497 |  |  |  | 36 |  |  |  | 40,698 |
Other securities |  |  | 12,818 |  |  |  | 3,054 |  |  |  | 152 |  |  |  | 15,720 |
Total securities available for sale |  | $ | 1,001,718 |  |  | $ | 14,823 |  |  | $ | 3,370 |  |  | $ | 1,013,171 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 43,279 |  |  | $ | 337 |  |  | $ | - |  |  | $ | 43,616 |
Federal agency |  |  | 285,880 |  |  |  | 343 |  |  |  | 7,308 |  |  |  | 278,915 |
State & municipal |  |  | 113,435 |  |  |  | 1,842 |  |  |  | 1,612 |  |  |  | 113,665 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 337,666 |  |  |  | 5,788 |  |  |  | 2,131 |  |  |  | 341,323 |
U.S. government securities |  |  | 21,924 |  |  |  | 1,002 |  |  |  | 85 |  |  |  | 22,841 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 521,257 |  |  |  | 1,777 |  |  |  | 18,141 |  |  |  | 504,893 |
U.S. government securities |  |  | 43,943 |  |  |  | 794 |  |  |  | 102 |  |  |  | 44,635 |
Other securities |  |  | 12,367 |  |  |  | 2,854 |  |  |  | 228 |  |  |  | 14,993 |
Total securities available for sale |  | $ | 1,379,751 |  |  | $ | 14,737 |  |  | $ | 29,607 |  |  | $ | 1,364,881 |
Schedule of sales transactions of securities available for sale | The following table sets forth information with regard to sales transactions of securities available for sale:
|  | Years ended December 31 |
(In thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Proceeds from sales |  | $ | 189 |  |  | $ | 27,593 |  |  | $ | 1,790 |
Gross realized gains |  | $ | 49 |  |  | $ | 1,283 |  |  | $ | 442 |
Gross realized losses |  |  | - |  |  |  | - |  |  |  | - |
Net securities gains |  | $ | 49 |  |  | $ | 1,283 |  |  | $ | 442 |
Amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity | The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:
(In thousands) |  | Amortized cost |  |  | Unrealized gains |  |  | Unrealized losses |  |  | Estimated fair value |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 755 |  |  | $ | 113 |  |  | $ | - |  |  | $ | 868 |
Collateralized mortgage obligations |  |  | 317,628 |  |  |  | 1,934 |  |  |  | 1,965 |  |  |  | 317,597 |
State & municipal |  |  | 135,978 |  |  |  | 674 |  |  |  | 123 |  |  |  | 136,529 |
Total securities held to maturity |  | $ | 454,361 |  |  | $ | 2,721 |  |  | $ | 2,088 |  |  | $ | 454,994 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 953 |  |  | $ | 128 |  |  | $ | - |  |  | $ | 1,081 |
Collateralized mortgage obligations |  |  | 62,025 |  |  |  | - |  |  |  | 4,569 |  |  |  | 57,456 |
State & municipal |  |  | 54,305 |  |  |  | 442 |  |  |  | 8 |  |  |  | 54,739 |
Total securities held to maturity |  | $ | 117,283 |  |  | $ | 570 |  |  | $ | 4,577 |  |  | $ | 113,276 |
Investment securities with unrealized losses | The following table sets forth information with regard to investment securities with unrealized losses at December 31, 2014 and 2013, segregated according to the length of time the securities had been in a continuous unrealized loss position:
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
Security Type: |  | Fair Value |  |  | Unrealized losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized losses |  |  | Number of Positions |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 66,528 |  |  | $ | (226 | ) |  |  | 8 |  |  | $ | 198,151 |  |  | $ | (2,380 | ) |  |  | 16 |  |  | $ | 264,679 |  |  | $ | (2,606 | ) |  |  | 24 |
State & municipal |  |  | 8,818 |  |  |  | (42 | ) |  |  | 33 |  |  |  | 1,321 |  |  |  | (10 | ) |  |  | 5 |  |  |  | 10,139 |  |  |  | (52 | ) |  |  | 38 |
Mortgage-backed |  |  | 10,400 |  |  |  | (36 | ) |  |  | 10 |  |  |  | 35,565 |  |  |  | (254 | ) |  |  | 31 |  |  |  | 45,965 |  |  |  | (290 | ) |  |  | 41 |
Collateralized mortgage obligations |  |  | 57,682 |  |  |  | (196 | ) |  |  | 8 |  |  |  | 6,598 |  |  |  | (74 | ) |  |  | 4 |  |  |  | 64,280 |  |  |  | (270 | ) |  |  | 12 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,201 |  |  |  | (152 | ) |  |  | 2 |  |  |  | 3,201 |  |  |  | (152 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 143,428 |  |  | $ | (500 | ) |  |  | 59 |  |  | $ | 244,836 |  |  | $ | (2,870 | ) |  |  | 58 |  |  | $ | 388,264 |  |  | $ | (3,370 | ) |  |  | 117 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized mortgage obligations |  | $ | 26,052 |  |  | $ | (49 | ) |  |  | 2 |  |  | $ | 46,415 |  |  | $ | (1,916 | ) |  |  | 4 |  |  | $ | 72,467 |  |  | $ | (1,965 | ) |  |  | 6 |
State & municipal |  |  | 43,514 |  |  |  | (116 | ) |  |  | 110 |  |  |  | 1,619 |  |  |  | (7 | ) |  |  | 6 |  |  |  | 45,133 |  |  |  | (123 | ) |  |  | 116 |
Total securities with unrealized losses |  | $ | 69,566 |  |  | $ | (165 | ) |  |  | 112 |  |  | $ | 48,034 |  |  | $ | (1,923 | ) |  |  | 10 |  |  | $ | 117,600 |  |  | $ | (2,088 | ) |  |  | 122 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 233,935 |  |  | $ | (6,927 | ) |  |  | 20 |  |  | $ | 9,619 |  |  | $ | (381 | ) |  |  | 1 |  |  | $ | 243,554 |  |  | $ | (7,308 | ) |  |  | 21 |
State & municipal |  |  | 50,328 |  |  |  | (1,612 | ) |  |  | 177 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 50,328 |  |  |  | (1,612 | ) |  |  | 177 |
Mortgage-backed |  |  | 143,080 |  |  |  | (2,216 | ) |  |  | 79 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 143,080 |  |  |  | (2,216 | ) |  |  | 79 |
Collateralized mortgage obligations |  |  | 379,273 |  |  |  | (18,243 | ) |  |  | 36 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 379,273 |  |  |  | (18,243 | ) |  |  | 36 |
Other securities |  |  | 5,490 |  |  |  | (203 | ) |  |  | 2 |  |  |  | 223 |  |  |  | (25 | ) |  |  | 1 |  |  |  | 5,713 |  |  |  | (228 | ) |  |  | 3 |
Total securities with unrealized losses |  | $ | 812,106 |  |  | $ | (29,201 | ) |  |  | 314 |  |  | $ | 9,842 |  |  | $ | (406 | ) |  |  | 2 |  |  | $ | 821,948 |  |  | $ | (29,607 | ) |  |  | 316 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized mortgage obligations |  | $ | 57,456 |  |  | $ | (4,569 | ) |  |  | 5 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 57,456 |  |  | $ | (4,569 | ) |  |  | 5 |
State & municipal |  |  | 1,012 |  |  |  | (8 | ) |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,012 |  |  |  | (8 | ) |  |  | 1 |
Total securities with unrealized losses |  | $ | 58,468 |  |  | $ | (4,577 | ) |  |  | 6 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 58,468 |  |  | $ | (4,577 | ) |  |  | 6 |
Contractual maturities of debt securities | The following tables set forth information with regard to contractual maturities of debt securities at December 31, 2014:
(In thousands) |  | Amortized cost |  |  | Estimated fair value |
Debt securities classified as available for sale |  |  |  |  |  |
Within one year |  | $ | 28,193 |  |  | $ | 28,310 |
From one to five years |  |  | 356,696 |  |  |  | 356,107 |
From five to ten years |  |  | 160,816 |  |  |  | 163,924 |
After ten years |  |  | 443,195 |  |  |  | 449,110 |
|  | $ | 988,900 |  |  | $ | 997,451 |
Debt securities classified as held to maturity |  |  |  |  |  |  |  |
Within one year |  | $ | 22,999 |  |  | $ | 23,075 |
From one to five years |  |  | 15,506 |  |  |  | 15,606 |
From five to ten years |  |  | 87,326 |  |  |  | 87,640 |
After ten years |  |  | 328,530 |  |  |  | 328,673 |
|  | $ | 454,361 |  |  | $ | 454,994 |

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