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Securities (Tables) | 6 Months Ended
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Jun. 30, 2015
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 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 10,005 |  |  | $ | 9 |  |  | $ | - |  |  | $ | 10,014 |
Federal Agency |  |  | 397,197 |  |  |  | 759 |  |  |  | (1,033 | ) |  |  | 396,923 |
State & municipal |  |  | 29,881 |  |  |  | 505 |  |  |  | (26 | ) |  |  | 30,360 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 333,292 |  |  |  | 5,914 |  |  |  | (439 | ) |  |  | 338,767 |
U.S. government agency securities |  |  | 15,325 |  |  |  | 796 |  |  |  | (59 | ) |  |  | 16,062 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 285,733 |  |  |  | 1,966 |  |  |  | (535 | ) |  |  | 287,164 |
U.S. government agency securities |  |  | 33,965 |  |  |  | 428 |  |  |  | (34 | ) |  |  | 34,359 |
Other securities |  |  | 12,872 |  |  |  | 2,870 |  |  |  | (142 | ) |  |  | 15,600 |
Total securities available for sale |  | $ | 1,118,270 |  |  | $ | 13,247 |  |  | $ | (2,268 | ) |  | $ | 1,129,249 |
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 |
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 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 10,049 |  |  | $ | - |  |  | $ | (142 | ) |  | $ | 9,907 |
U.S. government agency securities |  |  | 695 |  |  |  | 118 |  |  |  | - |  |  |  | 813 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 295,510 |  |  |  | 1,769 |  |  |  | (1,826 | ) |  |  | 295,453 |
State & municipal |  |  | 148,058 |  |  |  | 466 |  |  |  | (442 | ) |  |  | 148,082 |
Total securities held to maturity |  | $ | 454,312 |  |  | $ | 2,353 |  |  | $ | (2,410 | ) |  | $ | 454,255 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 755 |  |  | $ | 113 |  |  | $ | - |  |  | $ | 868 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 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 |
Investment securities with unrealized losses | The following table sets forth information with regard to investment securities with unrealized losses for the periods presented:
|  | 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 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 146,403 |  |  | $ | (765 | ) |  |  | 13 |  |  | $ | 29,732 |  |  | $ | (268 | ) |  |  | 3 |  |  | $ | 176,135 |  |  | $ | (1,033 | ) |  |  | 16 |
State & municipal |  |  | 6,184 |  |  |  | (26 | ) |  |  | 14 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,184 |  |  |  | (26 | ) |  |  | 14 |
Mortgage-backed |  |  | 57,745 |  |  |  | (439 | ) |  |  | 28 |  |  |  | 4,571 |  |  |  | (59 | ) |  |  | 17 |  |  |  | 62,316 |  |  |  | (498 | ) |  |  | 45 |
Collateralized mortgage obligations |  |  | 87,849 |  |  |  | (531 | ) |  |  | 9 |  |  |  | 5,452 |  |  |  | (38 | ) |  |  | 4 |  |  |  | 93,301 |  |  |  | (569 | ) |  |  | 13 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,211 |  |  |  | (142 | ) |  |  | 2 |  |  |  | 3,211 |  |  |  | (142 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 298,181 |  |  | $ | (1,761 | ) |  |  | 64 |  |  | $ | 42,966 |  |  | $ | (507 | ) |  |  | 26 |  |  | $ | 341,147 |  |  | $ | (2,268 | ) |  |  | 90 |
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 9,907 |  |  | $ | (142 | ) |  |  | 1 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 9,907 |  |  | $ | (142 | ) |  |  | 1 |
Collateralized mortgage obligations |  |  | 76,008 |  |  |  | (306 | ) |  |  | 8 |  |  |  | 44,136 |  |  |  | (1,520 | ) |  |  | 4 |  |  |  | 120,144 |  |  |  | (1,826 | ) |  |  | 12 |
State & municipal |  |  | 43,095 |  |  |  | (442 | ) |  |  | 89 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 43,095 |  |  |  | (442 | ) |  |  | 89 |
Total securities with unrealized losses |  | $ | 129,010 |  |  | $ | (890 | ) |  |  | 98 |  |  | $ | 44,136 |  |  | $ | (1,520 | ) |  |  | 4 |  |  | $ | 173,146 |  |  | $ | (2,410 | ) |  |  | 102 |
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 |
Contractual maturities of debt securities | The following tables set forth information with regard to contractual maturities of debt securities at June 30, 2015:
(In thousands) |  | Amortized cost |  |  | Estimated fair value |
Debt securities classified as available for sale |  |  |  |  |  |
Within one year |  | $ | 13,981 |  |  | $ | 14,032 |
From one to five years |  |  | 412,442 |  |  |  | 413,423 |
From five to ten years |  |  | 150,200 |  |  |  | 152,606 |
After ten years |  |  | 528,775 |  |  |  | 533,588 |
|  | $ | 1,105,398 |  |  | $ | 1,113,649 |
Debt securities classified as held to maturity |  |  |  |  |  |  |  |
Within one year |  | $ | 24,317 |  |  | $ | 24,328 |
From one to five years |  |  | 15,730 |  |  |  | 15,811 |
From five to ten years |  |  | 99,778 |  |  |  | 99,818 |
After ten years |  |  | 314,487 |  |  |  | 314,298 |
|  | $ | 454,312 |  |  | $ | 454,255 |

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