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SECURITIES AVAILABLE FOR SALE, HELD TO MATURITY, AND OTHER (Tables) | 3 Months Ended
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Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract] |
Summary of securities available for sale (AFS) and held to maturity | The following is a summary of securities available for sale, held to maturity, and other:
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale and other |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 112,857 |  |  | $ | 2,784 |  |  | $ | (721 | ) |  | $ | 114,920 |
Agency collateralized mortgage obligations |  | 932,723 |  |  | 29 |  |  | (19,816 | ) |  | 912,936 |
Agency mortgage-backed securities |  | 195,526 |  |  | 95 |  |  | (5,523 | ) |  | 190,098 |
Agency commercial mortgage-backed securities |  | 63,561 |  |  | — |  |  | (3,003 | ) |  | 60,558 |
Corporate bonds |  | 100,963 |  |  | 861 |  |  | (32 | ) |  | 101,792 |
Trust preferred securities |  | 11,297 |  |  | 266 |  |  | — |  |  | 11,563 |
Other bonds and obligations |  | 9,473 |  |  | 104 |  |  | (45 | ) |  | 9,532 |
Total debt securities |  | 1,426,400 |  |  | 4,139 |  |  | (29,140 | ) |  | 1,401,399 |
Other securities: |  |  |  |  |  |  |  |
Marketable equity securities |  | 59,261 |  |  | — |  |  | — |  |  | 59,261 |
Total securities available for sale and other |  | 1,485,661 |  |  | 4,139 |  |  | (29,140 | ) |  | 1,460,660 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 269,636 |  |  | 4,251 |  |  | (2,980 | ) |  | 270,907 |
Agency collateralized mortgage obligations |  | 73,207 |  |  | 433 |  |  | (1,078 | ) |  | 72,562 |
Agency mortgage-backed securities |  | 7,712 |  |  | — |  |  | (316 | ) |  | 7,396 |
Agency commercial mortgage-backed securities |  | 10,465 |  |  | — |  |  | (509 | ) |  | 9,956 |
Tax advantaged economic development bonds |  | 33,996 |  |  | 361 |  |  | (1,203 | ) |  | 33,154 |
Other bonds and obligations |  | 321 |  |  | — |  |  | — |  |  | 321 |
Total securities held to maturity |  | 395,337 |  |  | 5,045 |  |  | (6,086 | ) |  | 394,296 |
Total |  | $ | 1,880,998 |  |  | $ | 9,184 |  |  | $ | (35,226 | ) |  | $ | 1,854,956 |
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale and other |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 113,427 |  |  | $ | 5,012 |  |  | $ | (206 | ) |  | $ | 118,233 |
Agency collateralized mortgage obligations |  | 859,705 |  |  | 397 |  |  | (8,944 | ) |  | 851,158 |
Agency mortgage-backed securities |  | 218,926 |  |  | 279 |  |  | (2,265 | ) |  | 216,940 |
Agency commercial mortgage-backed securities |  | 64,025 |  |  | 41 |  |  | (1,761 | ) |  | 62,305 |
Corporate bonds |  | 110,076 |  |  | 882 |  |  | (237 | ) |  | 110,721 |
Trust preferred securities |  | 11,334 |  |  | 343 |  |  | — |  |  | 11,677 |
Other bonds and obligations |  | 9,757 |  |  | 154 |  |  | (31 | ) |  | 9,880 |
Total debt securities |  | 1,387,250 |  |  | 7,108 |  |  | (13,444 | ) |  | 1,380,914 |
Other securities: |  |  |  |  |  |  |  |
Marketable equity securities |  | 36,483 |  |  | 9,211 |  |  | (509 | ) |  | 45,185 |
Total securities available for sale and other |  | 1,423,733 |  |  | 16,319 |  |  | (13,953 | ) |  | 1,426,099 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 270,310 |  |  | 8,675 |  |  | (90 | ) |  | 278,895 |
Agency collateralized mortgage obligations |  | 73,742 |  |  | 1,045 |  |  | (486 | ) |  | 74,301 |
Agency mortgage-backed securities |  | 7,892 |  |  | — |  |  | (164 | ) |  | 7,728 |
Agency commercial mortgage-backed securities |  | 10,481 |  |  | — |  |  | (268 | ) |  | 10,213 |
Tax advantaged economic development bonds |  | 34,357 |  |  | 596 |  |  | (1,135 | ) |  | 33,818 |
Other bonds and obligations |  | 321 |  |  | — |  |  | — |  |  | 321 |
Total securities held to maturity |  | 397,103 |  |  | 10,316 |  |  | (2,143 | ) |  | 405,276 |
Total |  | $ | 1,820,836 |  |  | $ | 26,635 |  |  | $ | (16,096 | ) |  | $ | 1,831,375 |
March 31, 2018 |  |  |  |  |  |
(In thousands) |  | Fair Value |  | Amortized Cost |  | Gains
Marketable equity securities |  | $ | 59,261 |  |  | $ | 55,719 |  |  | $ | 3,542 |
December 31, 2017 |  |  |  |  |  |
(In thousands) |  | Fair Value |  | Amortized Cost |  | Gains
Marketable equity securities |  | $ | 45,185 |  |  | $ | 36,483 |  |  | $ | 8,702 |
Schedule of amortized cost and estimated fair value of available for sale (AFS) and held to maturity (HTM) securities, segregated by contractual maturity | The amortized cost and estimated fair value of available for sale (“AFS”) and held to maturity (“HTM”) securities segregated by contractual maturity at March 31, 2018 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable.
|  | Available for sale |  | Held to maturity
|  | Amortized |  | Fair |  | Amortized |  | Fair
(In thousands) |  | Cost |  | Value |  | Cost |  | Value
Within 1 year |  | $ | 387 |  |  | $ | 388 |  |  | $ | 15,013 |  |  | $ | 15,336 |
Over 1 year to 5 years |  | 33,130 |  |  | 33,297 |  |  | 13,189 |  |  | 13,174 |
Over 5 years to 10 years |  | 75,568 |  |  | 76,746 |  |  | 7,999 |  |  | 8,079 |
Over 10 years |  | 125,505 |  |  | 127,376 |  |  | 267,752 |  |  | 267,793 |
Total bonds and obligations |  | 234,590 |  |  | 237,807 |  |  | 303,953 |  |  | 304,382 |
Mortgage-backed securities |  | 1,191,810 |  |  | 1,163,592 |  |  | 91,384 |  |  | 89,914 |
Total |  | $ | 1,426,400 |  |  | $ | 1,401,399 |  |  | $ | 395,337 |  |  | $ | 394,296 |
Schedule of securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions | Securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows:
|  | Less Than Twelve Months |  | Over Twelve Months |  | Total
|  | Gross |  |  |  | Gross |  |  |  | Gross |  |
|  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair
(In thousands) |  | Losses |  | Value |  | Losses |  | Value |  | Losses |  | Value
March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 128 |  |  | $ | 4,399 |  |  | $ | 593 |  |  | $ | 8,582 |  |  | $ | 721 |  |  | $ | 12,981 |
Agency collateralized mortgage obligations |  | 16,667 |  |  | 816,169 |  |  | 3,149 |  |  | 78,858 |  |  | 19,816 |  |  | 895,027 |
Agency mortgage-backed securities |  | 2,715 |  |  | 123,776 |  |  | 2,808 |  |  | 62,093 |  |  | 5,523 |  |  | 185,869 |
Agency commercial mortgage-backed securities |  | 268 |  |  | 13,647 |  |  | 2,735 |  |  | 46,911 |  |  | 3,003 |  |  | 60,558 |
Corporate bonds |  | 32 |  |  | 7,544 |  |  | — |  |  | — |  |  | 32 |  |  | 7,544 |
Other bonds and obligations |  | 18 |  |  | 1,084 |  |  | 27 |  |  | 1,997 |  |  | 45 |  |  | 3,081 |
Total securities available for sale |  | 19,828 |  |  | 966,619 |  |  | 9,312 |  |  | 198,441 |  |  | 29,140 |  |  | 1,165,060 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 2,779 |  |  | 112,585 |  |  | 201 |  |  | 1,915 |  |  | 2,980 |  |  | 114,500 |
Agency collateralized mortgage obligations |  | 444 |  |  | 32,112 |  |  | 634 |  |  | 12,317 |  |  | 1,078 |  |  | 44,429 |
Agency mortgage-backed securities |  | — |  |  | — |  |  | 316 |  |  | 7,397 |  |  | 316 |  |  | 7,397 |
Agency commercial mortgage-backed securities |  | — |  |  | — |  |  | 509 |  |  | 9,956 |  |  | 509 |  |  | 9,956 |
Tax advantaged economic development bonds |  | 1,203 |  |  | 15,712 |  |  | — |  |  | — |  |  | 1,203 |  |  | 15,712 |
Total securities held to maturity |  | 4,426 |  |  | 160,409 |  |  | 1,660 |  |  | 31,585 |  |  | 6,086 |  |  | 191,994 |
Total |  | $ | 24,254 |  |  | $ | 1,127,028 |  |  | $ | 10,972 |  |  | $ | 230,026 |  |  | $ | 35,226 |  |  | $ | 1,357,054 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | — |  |  | $ | — |  |  | $ | 206 |  |  | $ | 8,985 |  |  | $ | 206 |  |  | $ | 8,985 |
Agency collateralized mortgage obligations |  | 6,849 |  |  | 655,479 |  |  | 2,095 |  |  | 80,401 |  |  | 8,944 |  |  | 735,880 |
Agency mortgage-backed securities |  | 765 |  |  | 95,800 |  |  | 1,500 |  |  | 65,323 |  |  | 2,265 |  |  | 161,123 |
Agency commercial mortgage-backed securities |  | 334 |  |  | 17,379 |  |  | 1,427 |  |  | 39,268 |  |  | 1,761 |  |  | 56,647 |
Corporate bonds |  | 1 |  |  | 328 |  |  | 236 |  |  | 15,769 |  |  | 237 |  |  | 16,097 |
Trust preferred securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other bonds and obligations |  | 11 |  |  | 1,096 |  |  | 20 |  |  | 2,004 |  |  | 31 |  |  | 3,100 |
Total securities available for sale |  | 7,960 |  |  | 770,082 |  |  | 5,484 |  |  | 211,750 |  |  | 13,444 |  |  | 981,832 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 35 |  |  | 10,213 |  |  | 55 |  |  | 2,059 |  |  | 90 |  |  | 12,272 |
Agency collateralized mortgage obligations |  | — |  |  | — |  |  | 486 |  |  | 12,946 |  |  | 486 |  |  | 12,946 |
Agency mortgage-backed securities |  | — |  |  | — |  |  | 164 |  |  | 7,728 |  |  | 164 |  |  | 7,728 |
Agency commercial mortgage-backed securities |  | — |  |  | — |  |  | 268 |  |  | 10,213 |  |  | 268 |  |  | 10,213 |
Tax advantaged economic development bonds |  | 1,135 |  |  | 7,305 |  |  | — |  |  | — |  |  | 1,135 |  |  | 7,305 |
Total securities held to maturity |  | 1,170 |  |  | 17,518 |  |  | 973 |  |  | 32,946 |  |  | 2,143 |  |  | 50,464 |
Total |  | $ | 9,130 |  |  | $ | 787,600 |  |  | $ | 6,457 |  |  | $ | 244,696 |  |  | $ | 15,587 |  |  | $ | 1,032,296 |

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