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Securities (Tables) | 12 Months Ended
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Dec. 31, 2017
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 (losses) of AFS securities are as follows:
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 109,862 |  |  | $ | - |  |  | $ | 963 |  |  | $ | 108,899 |
State & municipal |  |  | 42,171 |  |  |  | 62 |  |  |  | 277 |  |  |  | 41,956 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 530,392 |  |  |  | 1,406 |  |  |  | 3,345 |  |  |  | 528,453 |
U.S. government agency securities |  |  | 26,363 |  |  |  | 334 |  |  |  | 223 |  |  |  | 26,474 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 496,033 |  |  |  | 254 |  |  |  | 10,114 |  |  |  | 486,173 |
U.S. government agency securities |  |  | 50,721 |  |  |  | 165 |  |  |  | 1,065 |  |  |  | 49,821 |
Other securities |  |  | 10,623 |  |  |  | 3,672 |  |  |  | 146 |  |  |  | 14,149 |
Total AFS securities |  | $ | 1,266,165 |  |  | $ | 5,893 |  |  | $ | 16,133 |  |  | $ | 1,255,925 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 175,135 |  |  | $ | 78 |  |  | $ | 805 |  |  | $ | 174,408 |
State & municipal |  |  | 47,053 |  |  |  | 153 |  |  |  | 480 |  |  |  | 46,726 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 513,814 |  |  |  | 3,345 |  |  |  | 2,492 |  |  |  | 514,667 |
U.S. government securities |  |  | 14,955 |  |  |  | 411 |  |  |  | 189 |  |  |  | 15,177 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 513,431 |  |  |  | 532 |  |  |  | 7,688 |  |  |  | 506,275 |
U.S. government securities |  |  | 60,822 |  |  |  | 184 |  |  |  | 708 |  |  |  | 60,298 |
Other securities |  |  | 15,849 |  |  |  | 6,394 |  |  |  | 1,504 |  |  |  | 20,739 |
Total AFS securities |  | $ | 1,341,059 |  |  | $ | 11,097 |  |  | $ | 13,866 |  |  | $ | 1,338,290 |
Schedule of sales transactions of securities available for sale | The components of net realized gains (losses) on the sale of AFS securities are as follows. These amounts were reclassified out of AOCI and into earnings:
|  | Years ended December 31, |
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Gross realized gains |  | $ | 2,241 |  |  | $ | 683 |  |  | $ | 3,099 |
Gross realized (losses) |  |  | (372 | ) |  |  | (1,327 | ) |  |  | (12 | )
Net AFS realized gains (losses) |  | $ | 1,869 |  |  | $ | (644 | ) |  | $ | 3,087 |
Amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity | The amortized cost, estimated fair value and unrealized gains (losses) of HTM securities are as follows:
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 96,357 |  |  | $ | 85 |  |  | $ | 810 |  |  | $ | 95,632 |
U.S. government agency securities |  |  | 418 |  |  |  | 57 |  |  |  | - |  |  |  | 475 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 186,327 |  |  |  | 224 |  |  |  | 2,577 |  |  |  | 183,974 |
State & municipal |  |  | 200,971 |  |  |  | 1,439 |  |  |  | 620 |  |  |  | 201,790 |
Total HTM securities |  | $ | 484,073 |  |  | $ | 1,805 |  |  | $ | 4,007 |  |  | $ | 481,871 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 96,668 |  |  | $ | - |  |  | $ | 1,176 |  |  | $ | 95,492 |
U.S. government agency securities |  |  | 533 |  |  |  | 87 |  |  |  | - |  |  |  | 620 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 225,213 |  |  |  | 1,060 |  |  |  | 1,508 |  |  |  | 224,765 |
State & municipal |  |  | 205,534 |  |  |  | 434 |  |  |  | 1,795 |  |  |  | 204,173 |
Total HTM securities |  | $ | 527,948 |  |  | $ | 1,581 |  |  | $ | 4,479 |  |  | $ | 525,050 |
Investment securities with unrealized losses | The following table sets forth information with regard to investment securities with unrealized losses 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 |
(In thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 64,653 |  |  | $ | (242 | ) |  |  | 5 |  |  | $ | 44,246 |  |  | $ | (721 | ) |  |  | 4 |  |  | $ | 108,899 |  |  | $ | (963 | ) |  |  | 9 |
State & municipal |  |  | 23,566 |  |  |  | (200 | ) |  |  | 39 |  |  |  | 5,994 |  |  |  | (77 | ) |  |  | 8 |  |  |  | 29,560 |  |  |  | (277 | ) |  |  | 47 |
Mortgage-backed |  |  | 317,630 |  |  |  | (2,381 | ) |  |  | 55 |  |  |  | 58,316 |  |  |  | (1,188 | ) |  |  | 24 |  |  |  | 375,946 |  |  |  | (3,569 | ) |  |  | 79 |
Collateralized mortgage obligations |  |  | 227,917 |  |  |  | (2,658 | ) |  |  | 35 |  |  |  | 275,303 |  |  |  | (8,521 | ) |  |  | 42 |  |  |  | 503,220 |  |  |  | (11,179 | ) |  |  | 77 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,959 |  |  |  | (146 | ) |  |  | 1 |  |  |  | 2,959 |  |  |  | (146 | ) |  |  | 1 |
Total securities with unrealized losses |  | $ | 633,766 |  |  | $ | (5,481 | ) |  |  | 134 |  |  | $ | 386,818 |  |  | $ | (10,653 | ) |  |  | 79 |  |  | $ | 1,020,584 |  |  | $ | (16,134 | ) |  |  | 213 |
HTM securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 15,477 |  |  | $ | (140 | ) |  |  | 2 |  |  | $ | 33,703 |  |  | $ | (670 | ) |  |  | 2 |  |  | $ | 49,180 |  |  | $ | (810 | ) |  |  | 4 |
Collateralized mortgage obligations |  |  | 118,476 |  |  |  | (1,064 | ) |  |  | 17 |  |  |  | 37,614 |  |  |  | (1,513 | ) |  |  | 6 |  |  |  | 156,090 |  |  |  | (2,577 | ) |  |  | 23 |
State & municipal |  |  | 22,387 |  |  |  | (132 | ) |  |  | 40 |  |  |  | 15,720 |  |  |  | (488 | ) |  |  | 24 |  |  |  | 38,107 |  |  |  | (620 | ) |  |  | 64 |
Total securities with unrealized losses |  | $ | 156,340 |  |  | $ | (1,336 | ) |  |  | 59 |  |  | $ | 87,037 |  |  | $ | (2,671 | ) |  |  | 32 |  |  | $ | 243,377 |  |  | $ | (4,007 | ) |  |  | 91 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 119,363 |  |  | $ | (805 | ) |  |  | 10 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 119,363 |  |  | $ | (805 | ) |  |  | 10 |
State & municipal |  |  | 31,873 |  |  |  | (478 | ) |  |  | 55 |  |  |  | 483 |  |  |  | (2 | ) |  |  | 1 |  |  |  | 32,356 |  |  |  | (480 | ) |  |  | 56 |
Mortgage-backed |  |  | 277,524 |  |  |  | (2,668 | ) |  |  | 49 |  |  |  | 985 |  |  |  | (13 | ) |  |  | 4 |  |  |  | 278,509 |  |  |  | (2,681 | ) |  |  | 53 |
Collateralized mortgage obligations |  |  | 473,746 |  |  |  | (8,396 | ) |  |  | 57 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 473,746 |  |  |  | (8,396 | ) |  |  | 57 |
Other securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,363 |  |  |  | (1,504 | ) |  |  | 2 |  |  |  | 4,363 |  |  |  | (1,504 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 902,506 |  |  | $ | (12,347 | ) |  |  | 171 |  |  | $ | 5,831 |  |  | $ | (1,519 | ) |  |  | 7 |  |  | $ | 908,337 |  |  | $ | (13,866 | ) |  |  | 178 |
HTM securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | 95,492 |  |  | $ | (1,176 | ) |  |  | 5 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 95,492 |  |  | $ | (1,176 | ) |  |  | 5 |
Collateralized mortgage obligations |  |  | 108,587 |  |  |  | (319 | ) |  |  | 12 |  |  |  | 35,209 |  |  |  | (1,189 | ) |  |  | 4 |  |  |  | 143,796 |  |  |  | (1,508 | ) |  |  | 16 |
State & municipal |  |  | 81,984 |  |  |  | (1,795 | ) |  |  | 155 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 81,984 |  |  |  | (1,795 | ) |  |  | 155 |
Total securities with unrealized losses |  | $ | 286,063 |  |  | $ | (3,290 | ) |  |  | 172 |  |  | $ | 35,209 |  |  | $ | (1,189 | ) |  |  | 4 |  |  | $ | 321,272 |  |  | $ | (4,479 | ) |  |  | 176 |
Contractual maturities of debt securities | The following tables set forth information with regard to contractual maturities of debt securities at December 31, 2017:
(In thousands) |  | Amortized Cost |  |  | Estimated Fair Value |
AFS debt securities: |  |  |  |  |  |
Within one year |  | $ | 63,309 |  |  | $ | 63,186 |
From one to five years |  |  | 90,119 |  |  |  | 89,275 |
From five to ten years |  |  | 178,128 |  |  |  | 177,961 |
After ten years |  |  | 923,987 |  |  |  | 911,354 |
Total AFS debt securities |  | $ | 1,255,543 |  |  | $ | 1,241,776 |
HTM debt securities: |  |  |  |  |  |  |  |
Within one year |  | $ | 31,412 |  |  | $ | 31,413 |
From one to five years |  |  | 42,363 |  |  |  | 42,588 |
From five to ten years |  |  | 174,950 |  |  |  | 174,937 |
After ten years |  |  | 235,348 |  |  |  | 232,933 |
Total HTM debt securities |  | $ | 484,073 |  |  | $ | 481,871 |

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