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SECURITIES AVAILABLE FOR SALE, HELD TO MATURITY, AND OTHER (Tables)

3 Months Ended

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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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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-Publisher FASB
-Name Accounting Standards Codification
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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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