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SECURITIES AVAILABLE FOR SALE, HELD TO MATURITY, AND MARKETABLE EQUITY SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Summary of Securities Available for Sale, Held to Maturity, and Marketable Equity Securities | The following is a summary of securities available for sale, held to maturity, and marketable equity securities:
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 114,401 |  |  | $ | 5,477 |  |  | $ | (5 | ) |  | $ | 119,873 |
Agency collateralized mortgage obligations |  | 882,124 |  |  | 7,419 |  |  | (581 | ) |  | 888,962 |
Agency mortgage-backed securities |  | 182,598 |  |  | 739 |  |  | (1,079 | ) |  | 182,258 |
Agency commercial mortgage-backed securities |  | 61,275 |  |  | 465 |  |  | (1,089 | ) |  | 60,651 |
Corporate bonds |  | 119,917 |  |  | 880 |  |  | (1,054 | ) |  | 119,743 |
Trust preferred securities |  | 8,323 |  |  | 231 |  |  | (4 | ) |  | 8,550 |
Other bonds and obligations |  | 29,084 |  |  | 963 |  |  | (6 | ) |  | 30,041 |
Total securities available for sale |  | 1,397,722 |  |  | 16,174 |  |  | (3,818 | ) |  | 1,410,078 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 257,232 |  |  | 10,835 |  |  | — |  |  | 268,067 |
Agency collateralized mortgage obligations |  | 70,726 |  |  | 2,975 |  |  | (115 | ) |  | 73,586 |
Agency mortgage-backed securities |  | 6,758 |  |  | — |  |  | (57 | ) |  | 6,701 |
Agency commercial mortgage-backed securities |  | 10,385 |  |  | 46 |  |  | — |  |  | 10,431 |
Tax advantaged economic development bonds |  | 19,063 |  |  | 172 |  |  | (1,263 | ) |  | 17,972 |
Other bonds and obligations |  | 299 |  |  | — |  |  | — |  |  | 299 |
Total securities held to maturity |  | 364,463 |  |  | 14,028 |  |  | (1,435 | ) |  | 377,056 |
Marketable equity securities |  | 55,831 |  |  | 4,820 |  |  | (1,073 | ) |  | 59,578 |
Total |  | $ | 1,818,016 |  |  | $ | 35,022 |  |  | $ | (6,326 | ) |  | $ | 1,846,712 |
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 109,648 |  |  | $ | 2,272 |  |  | $ | (713 | ) |  | $ | 111,207 |
Agency collateralized mortgage obligations |  | 944,946 |  |  | 1,130 |  |  | (15,192 | ) |  | 930,884 |
Agency mortgage-backed securities |  | 175,406 |  |  | 36 |  |  | (5,121 | ) |  | 170,321 |
Agency commercial mortgage-backed securities |  | 62,200 |  |  | — |  |  | (3,275 | ) |  | 58,925 |
Corporate bonds |  | 112,404 |  |  | 342 |  |  | (1,256 | ) |  | 111,490 |
Trust preferred securities |  | 8,314 |  |  | 251 |  |  | (99 | ) |  | 8,466 |
Other bonds and obligations |  | 8,355 |  |  | 34 |  |  | (35 | ) |  | 8,354 |
Total securities available for sale |  | 1,421,273 |  |  | 4,065 |  |  | (25,691 | ) |  | 1,399,647 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 264,524 |  |  | 3,569 |  |  | (3,601 | ) |  | 264,492 |
Agency collateralized mortgage obligations |  | 71,637 |  |  | 533 |  |  | (778 | ) |  | 71,392 |
Agency mortgage-backed securities |  | 7,219 |  |  | — |  |  | (297 | ) |  | 6,922 |
Agency commercial mortgage-backed securities |  | 10,417 |  |  | — |  |  | (289 | ) |  | 10,128 |
Tax advantaged economic development bonds |  | 19,718 |  |  | 22 |  |  | (1,698 | ) |  | 18,042 |
Other bonds and obligations |  | 248 |  |  | — |  |  | — |  |  | 248 |
Total securities held to maturity |  | 373,763 |  |  | 4,124 |  |  | (6,663 | ) |  | 371,224 |
Marketable equity securities |  | 55,471 |  |  | 4,370 |  |  | (3,203 | ) |  | 56,638 |
Total |  | $ | 1,850,507 |  |  | $ | 12,559 |  |  | $ | (35,557 | ) |  | $ | 1,827,509 |
Schedule of 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 June 30, 2019 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 |  | $ | 15,204 |  |  | $ | 15,245 |  |  | $ | 2,875 |  |  | $ | 2,875 |
Over 1 year to 5 years |  | 31,179 |  |  | 31,213 |  |  | 14,729 |  |  | 14,844 |
Over 5 years to 10 years |  | 71,721 |  |  | 72,831 |  |  | 15,086 |  |  | 15,180 |
Over 10 years |  | 153,621 |  |  | 158,918 |  |  | 243,904 |  |  | 253,439 |
Total bonds and obligations |  | 271,725 |  |  | 278,207 |  |  | 276,594 |  |  | 286,338 |
Mortgage-backed securities |  | 1,125,997 |  |  | 1,131,871 |  |  | 87,869 |  |  | 90,718 |
Total |  | $ | 1,397,722 |  |  | $ | 1,410,078 |  |  | $ | 364,463 |  |  | $ | 377,056 |
Schedule of Securities Available for Sale and Held to Maturity with Unrealized Losses, Segregated by Duration | Securities available for sale and held to maturity 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
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 1,319 |  |  | $ | 5 |  |  | $ | 1,319 |
Agency collateralized mortgage obligations |  | 72 |  |  | 43,755 |  |  | 509 |  |  | 103,929 |  |  | 581 |  |  | 147,684 |
Agency mortgage-backed securities |  | 5 |  |  | 2,191 |  |  | 1,074 |  |  | 93,990 |  |  | 1,079 |  |  | 96,181 |
Agency commercial mortgage-backed securities |  | — |  |  | — |  |  | 1,089 |  |  | 55,319 |  |  | 1,089 |  |  | 55,319 |
Corporate bonds |  | 434 |  |  | 37,147 |  |  | 620 |  |  | 30,036 |  |  | 1,054 |  |  | 67,183 |
Trust preferred securities |  | 4 |  |  | 7,163 |  |  | — |  |  | — |  |  | 4 |  |  | 7,163 |
Other bonds and obligations |  | — |  |  | — |  |  | 6 |  |  | 3,052 |  |  | 6 |  |  | 3,052 |
Total securities available for sale |  | 515 |  |  | 90,256 |  |  | 3,303 |  |  | 287,645 |  |  | 3,818 |  |  | 377,901 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency collateralized mortgage obligations |  | — |  |  | — |  |  | 115 |  |  | 10,648 |  |  | 115 |  |  | 10,648 |
Agency mortgage-backed securities |  | — |  |  | — |  |  | 57 |  |  | 6,701 |  |  | 57 |  |  | 6,701 |
Tax advantaged economic development bonds |  | — |  |  | — |  |  | 1,263 |  |  | 6,729 |  |  | 1,263 |  |  | 6,729 |
Total securities held to maturity |  | — |  |  | — |  |  | 1,435 |  |  | 24,078 |  |  | 1,435 |  |  | 24,078 |
Total |  | $ | 515 |  |  | $ | 90,256 |  |  | $ | 4,738 |  |  | $ | 311,723 |  |  | $ | 5,253 |  |  | $ | 401,979 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 55 |  |  | $ | 3,186 |  |  | $ | 658 |  |  | $ | 11,787 |  |  | $ | 713 |  |  | $ | 14,973 |
Agency collateralized mortgage obligations |  | 76 |  |  | 39,114 |  |  | 15,116 |  |  | 755,528 |  |  | 15,192 |  |  | 794,642 |
Agency mortgage-backed securities |  | 53 |  |  | 5,500 |  |  | 5,068 |  |  | 162,439 |  |  | 5,121 |  |  | 167,939 |
Agency commercial mortgage-backed securities |  | 44 |  |  | 1,503 |  |  | 3,231 |  |  | 57,422 |  |  | 3,275 |  |  | 58,925 |
Corporate bonds |  | 1,249 |  |  | 74,434 |  |  | 7 |  |  | 2,561 |  |  | 1,256 |  |  | 76,995 |
Trust preferred securities |  | 99 |  |  | 7,068 |  |  | — |  |  | — |  |  | 99 |  |  | 7,068 |
Other bonds and obligations |  | — |  |  | — |  |  | 35 |  |  | 3,030 |  |  | 35 |  |  | 3,030 |
Total securities available for sale |  | 1,576 |  |  | 130,805 |  |  | 24,115 |  |  | 992,767 |  |  | 25,691 |  |  | 1,123,572 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 127 |  |  | 17,596 |  |  | 3,474 |  |  | 103,759 |  |  | 3,601 |  |  | 121,355 |
Agency collateralized mortgage obligations |  | — |  |  | — |  |  | 778 |  |  | 43,138 |  |  | 778 |  |  | 43,138 |
Agency mortgage-backed securities |  | — |  |  | — |  |  | 297 |  |  | 6,922 |  |  | 297 |  |  | 6,922 |
Agency commercial mortgage-backed securities |  | — |  |  | — |  |  | 289 |  |  | 10,128 |  |  | 289 |  |  | 10,128 |
Tax advantaged economic development bonds |  | 65 |  |  | 8,078 |  |  | 1,633 |  |  | 6,512 |  |  | 1,698 |  |  | 14,590 |
Total securities held to maturity |  | 192 |  |  | 25,674 |  |  | 6,471 |  |  | 170,459 |  |  | 6,663 |  |  | 196,133 |
Total |  | $ | 1,768 |  |  | $ | 156,479 |  |  | $ | 30,586 |  |  | $ | 1,163,226 |  |  | $ | 32,354 |  |  | $ | 1,319,705 |

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- Definition 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details
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