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Securities (Tables) | 6 Months Ended
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Jun. 30, 2016
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, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Federal Agency |  | $ | 265,194 |  |  | $ | 1,641 |  |  | $ | - |  |  | $ | 266,835 |
State & municipal |  |  | 37,105 |  |  |  | 537 |  |  |  | (12 | ) |  |  | 37,630 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 379,583 |  |  |  | 9,683 |  |  |  | (1 | ) |  |  | 389,265 |
U.S. government agency securities |  |  | 6,886 |  |  |  | 547 |  |  |  | (13 | ) |  |  | 7,420 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 492,466 |  |  |  | 6,942 |  |  |  | (5 | ) |  |  | 499,403 |
U.S. government agency securities |  |  | 51,571 |  |  |  | 668 |  |  |  | (4 | ) |  |  | 52,235 |
Other securities |  |  | 16,673 |  |  |  | 3,744 |  |  |  | (1,609 | ) |  |  | 18,808 |
Total securities available for sale |  | $ | 1,249,478 |  |  | $ | 23,762 |  |  | $ | (1,644 | ) |  | $ | 1,271,596 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal Agency |  | $ | 312,580 |  |  | $ | 203 |  |  | $ | (1,511 | ) |  | $ | 311,272 |
State & municipal |  |  | 31,208 |  |  |  | 446 |  |  |  | (17 | ) |  |  | 31,637 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 398,086 |  |  |  | 4,141 |  |  |  | (1,068 | ) |  |  | 401,159 |
U.S. government agency securities |  |  | 8,191 |  |  |  | 560 |  |  |  | (14 | ) |  |  | 8,737 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 364,936 |  |  |  | 931 |  |  |  | (1,828 | ) |  |  | 364,039 |
U.S. government agency securities |  |  | 40,699 |  |  |  | 348 |  |  |  | (115 | ) |  |  | 40,932 |
Other securities |  |  | 13,637 |  |  |  | 3,249 |  |  |  | (118 | ) |  |  | 16,768 |
Total securities available for sale |  | $ | 1,169,337 |  |  | $ | 9,878 |  |  | $ | (4,671 | ) |  | $ | 1,174,544 |
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, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 51,206 |  |  | $ | 505 |  |  | $ | - |  |  | $ | 51,711 |
U.S. government agency securities |  |  | 566 |  |  |  | 105 |  |  |  | - |  |  |  | 671 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 251,069 |  |  |  | 6,259 |  |  |  | (256 | ) |  |  | 257,072 |
State & municipal |  |  | 197,999 |  |  |  | 4,908 |  |  |  | (12 | ) |  |  | 202,895 |
Total securities held to maturity |  | $ | 500,840 |  |  | $ | 11,777 |  |  | $ | (268 | ) |  | $ | 512,349 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 9,432 |  |  | $ | - |  |  | $ | (107 | ) |  | $ | 9,325 |
U.S. government agency securities |  |  | 611 |  |  |  | 95 |  |  |  | - |  |  |  | 706 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 272,550 |  |  |  | 1,411 |  |  |  | (1,560 | ) |  |  | 272,401 |
State & municipal |  |  | 188,438 |  |  |  | 2,288 |  |  |  | (18 | ) |  |  | 190,708 |
Total securities held to maturity |  | $ | 471,031 |  |  | $ | 3,794 |  |  | $ | (1,685 | ) |  | $ | 473,140 |
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, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State & municipal |  | $ | 2,664 |  |  | $ | (10 | ) |  |  | 6 |  |  | $ | 493 |  |  | $ | (2 | ) |  |  | 1 |  |  | $ | 3,157 |  |  | $ | (12 | ) |  |  | 7 |
Mortgage-backed |  |  | 145 |  |  |  | (1 | ) |  |  | 2 |  |  |  | 1,010 |  |  |  | (13 | ) |  |  | 5 |  |  |  | 1,155 |  |  |  | (14 | ) |  |  | 7 |
Collateralized mortgage obligations |  |  | 11,020 |  |  |  | (9 | ) |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11,020 |  |  |  | (9 | ) |  |  | 2 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,506 |  |  |  | (1,609 | ) |  |  | 3 |  |  |  | 4,506 |  |  |  | (1,609 | ) |  |  | 3 |
Total securities with unrealized losses |  | $ | 13,829 |  |  | $ | (20 | ) |  |  | 10 |  |  | $ | 6,009 |  |  | $ | (1,624 | ) |  |  | 9 |  |  | $ | 19,838 |  |  | $ | (1,644 | ) |  |  | 19 |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized mortgage obligations |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 39,767 |  |  | $ | (256 | ) |  |  | 4 |  |  | $ | 39,767 |  |  | $ | (256 | ) |  |  | 4 |
State & municipal |  |  | 918 |  |  |  | (12 | ) |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 918 |  |  |  | (12 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 918 |  |  | $ | (12 | ) |  |  | 2 |  |  | $ | 39,767 |  |  | $ | (256 | ) |  |  | 4 |  |  | $ | 40,685 |  |  | $ | (268 | ) |  |  | 6 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 186,685 |  |  | $ | (1,312 | ) |  |  | 15 |  |  | $ | 19,801 |  |  | $ | (199 | ) |  |  | 2 |  |  | $ | 206,486 |  |  | $ | (1,511 | ) |  |  | 17 |
State & municipal |  |  | 4,599 |  |  |  | (14 | ) |  |  | 7 |  |  |  | 502 |  |  |  | (3 | ) |  |  | 1 |  |  |  | 5,101 |  |  |  | (17 | ) |  |  | 8 |
Mortgage-backed |  |  | 177,270 |  |  |  | (1,068 | ) |  |  | 33 |  |  |  | 1,066 |  |  |  | (14 | ) |  |  | 5 |  |  |  | 178,336 |  |  |  | (1,082 | ) |  |  | 38 |
Collateralized mortgage obligations |  |  | 256,265 |  |  |  | (1,889 | ) |  |  | 24 |  |  |  | 5,218 |  |  |  | (54 | ) |  |  | 2 |  |  |  | 261,483 |  |  |  | (1,943 | ) |  |  | 26 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,235 |  |  |  | (118 | ) |  |  | 2 |  |  |  | 3,235 |  |  |  | (118 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 624,819 |  |  | $ | (4,283 | ) |  |  | 79 |  |  | $ | 29,822 |  |  | $ | (388 | ) |  |  | 12 |  |  | $ | 654,641 |  |  | $ | (4,671 | ) |  |  | 91 |
Investment securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 9,325 |  |  | $ | (107 | ) |  |  | 1 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 9,325 |  |  | $ | (107 | ) |  |  | 1 |
Collateralized mortgage obligations |  |  | 105,604 |  |  |  | (281 | ) |  |  | 12 |  |  |  | 41,523 |  |  |  | (1,279 | ) |  |  | 4 |  |  |  | 147,127 |  |  |  | (1,560 | ) |  |  | 16 |
State & municipal |  |  | 2,200 |  |  |  | (18 | ) |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,200 |  |  |  | (18 | ) |  |  | 3 |
Total securities with unrealized losses |  | $ | 117,129 |  |  | $ | (406 | ) |  |  | 16 |  |  | $ | 41,523 |  |  | $ | (1,279 | ) |  |  | 4 |  |  | $ | 158,652 |  |  | $ | (1,685 | ) |  |  | 20 |
Contractual Maturities of Debt Securities | The following tables set forth information with regard to contractual maturities of debt securities at June 30, 2016:
(In thousands) |  | Amortized cost |  |  | Estimated fair value |
Debt securities classified as available for sale |  |  |  |  |  |
Within one year |  | $ | 28,638 |  |  | $ | 28,768 |
From one to five years |  |  | 278,354 |  |  |  | 281,204 |
From five to ten years |  |  | 154,190 |  |  |  | 157,898 |
After ten years |  |  | 771,623 |  |  |  | 784,918 |
|  | $ | 1,232,805 |  |  | $ | 1,252,788 |
Debt securities classified as held to maturity |  |  |  |  |  |  |  |
Within one year |  | $ | 39,152 |  |  | $ | 39,185 |
From one to five years |  |  | 23,575 |  |  |  | 23,863 |
From five to ten years |  |  | 118,985 |  |  |  | 122,641 |
After ten years |  |  | 319,128 |  |  |  | 326,660 |
|  | $ | 500,840 |  |  | $ | 512,349 |

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