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Impairment of Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2017
Impairment of Investment Securities Disclosure [Abstract] |
Schedule of Unrealized Losses and Estimated Fair Values | The following table presents the gross unrealized losses and estimated fair values at March 31, 2017 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 6,014 |  |  | $ | (26 | ) |  | $ | — |  |  | $ | — |  |  | $ | 6,014 |  |  | $ | (26 | )
Mortgage-Backed Securities – Commercial | 33,494 |  |  | (700 | ) |  | — |  |  | — |  |  | 33,494 |  |  | (700 | )
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 689,399 |  |  | (10,015 | ) |  | 66,191 |  |  | (2,008 | ) |  | 755,590 |  |  | (12,023 | )
Mortgage-Backed Securities – Commercial | 14,485 |  |  | (51 | ) |  | — |  |  | — |  |  | 14,485 |  |  | (51 | )
Other Government-Sponsored Enterprises | 16,642 |  |  | (58 | ) |  | — |  |  | — |  |  | 16,642 |  |  | (58 | )
Obligations of States and Political Subdivisions | 22,180 |  |  | (443 | ) |  | — |  |  | — |  |  | 22,180 |  |  | (443 | )
Debt securities issued by foreign governments | 198 |  |  | (2 | ) |  | — |  |  | — |  |  | 198 |  |  | (2 | )
Corporate Securities | 4,986 |  |  | (3 | ) |  | — |  |  | — |  |  | 4,986 |  |  | (3 | )
Pooled Trust Preferred Collateralized Debt Obligations | — |  |  | — |  |  | 29,274 |  |  | (6,954 | ) |  | 29,274 |  |  | (6,954 | )
Total Securities | $ | 787,398 |  |  | $ | (11,298 | ) |  | $ | 95,465 |  |  | $ | (8,962 | ) |  | $ | 882,863 |  |  | $ | (20,260 | )
The following table presents the gross unrealized losses and estimated fair values at December 31, 2016 by investment category and time frame for which securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 4,898 |  |  | $ | (11 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,898 |  |  | $ | (11 | )
Mortgage-Backed Securities - Commercial | 33,883 |  |  | (561 | ) |  | — |  |  | — |  |  | 33,883 |  |  | (561 | )
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 670,708 |  |  | (11,630 | ) |  | 56,200 |  |  | (2,202 | ) |  | 726,908 |  |  | (13,832 | )
Mortgage-Backed Securities – Commercial | 14,534 |  |  | (142 | ) |  | — |  |  | — |  |  | 14,534 |  |  | (142 | )
Other Government-Sponsored Enterprises | 16,632 |  |  | (69 | ) |  | — |  |  | — |  |  | 16,632 |  |  | (69 | )
Obligation of States and Political Subdivisions | 33,277 |  |  | (762 | ) |  | — |  |  | — |  |  | 33,277 |  |  | (762 | )
Pooled Trust Preferred Collateralized Debt Obligations | — |  |  | — |  |  | 28,952 |  |  | (7,124 | ) |  | 28,952 |  |  | (7,124 | )
Total Securities | $ | 773,932 |  |  | $ | (13,175 | ) |  | $ | 85,152 |  |  | $ | (9,326 | ) |  | $ | 859,084 |  |  | $ | (22,501 | )
Pooled Trust Preferred Collateralized Debt Obligations | The following table provides information related to our pooled trust preferred collateralized debt obligations as of March 31, 2017:
Deal | Class |  | Book Value |  | Estimated Fair Value |  | Unrealized Gain (Loss) |  | Moody’s/ Fitch Ratings |  | Number of Banks |  | Deferrals and Defaults as a % of Current Collateral |  | Excess Subordination as a % of Current Performing Collateral
(dollars in thousands)
Pre TSL IV | Mezzanine |  | $ | 1,827 |  |  | $ | 1,366 |  |  | $ | (461 | ) |  | B1/BB |  | 6 |  |  | 18.05 | % |  | 61.36 | %
Pre TSL VIII | Mezzanine |  | 1,955 |  |  | 2,142 |  |  | 187 |  |  | C/C |  | 27 |  |  | 40.34 |  |  | 0.00 |
Pre TSL IX | Mezzanine |  | 2,421 |  |  | 1,971 |  |  | (450 | ) |  | B1/C |  | 37 |  |  | 27.83 |  |  | 10.19 |
Pre TSL X | Mezzanine |  | 1,769 |  |  | 2,024 |  |  | 255 |  |  | Caa1/C |  | 42 |  |  | 30.10 |  |  | 2.11 |
Pre TSL XII | Mezzanine |  | 5,940 |  |  | 4,903 |  |  | (1,037 | ) |  | B3/C |  | 64 |  |  | 24.09 |  |  | 0.00 |
Pre TSL XIII | Mezzanine |  | 13,010 |  |  | 11,009 |  |  | (2,001 | ) |  | Ba3/CCC |  | 53 |  |  | 10.01 |  |  | 55.04 |
Pre TSL XIV | Mezzanine |  | 13,030 |  |  | 10,025 |  |  | (3,005 | ) |  | Ba2/CCC |  | 52 |  |  | 12.87 |  |  | 38.83 |
MMCap I | Mezzanine |  | 213 |  |  | 301 |  |  | 88 |  |  | Ca/C |  | 8 |  |  | 58.11 |  |  | 85.00 |
Total |  |  | $ | 40,165 |  |  | $ | 33,741 |  |  | $ | (6,424 | ) |  |  |  |  |  |  |  |
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities held and not Intended to be Sold | The following table provides a cumulative roll forward of credit losses recognized in earnings for debt securities held and not intended to be sold:
|  | For the Three Months Ended March 31,
|  | 2017 |  | 2016
| (dollars in thousands)
Balance, beginning (a) |  | $ | 17,056 |  |  | $ | 24,851 |
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized |  | — |  |  | — |
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized |  | — |  |  | — |
Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) |  | (228 | ) |  | (261 | )
Reduction for debt securities called during the period |  | — |  |  | — |
Balance, ending |  | $ | 16,828 |  |  | $ | 24,590 |
(a) | The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods.
(b) | Represents the increase in cash flows recognized in interest income during the period.

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27340-111563 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 + Details
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