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Securities Available for Sale (Tables) | 12 Months Ended
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Dec. 31, 2013
Available-for-sale Securities [Abstract] |
Summary of Securities Available for Sale | The following is a summary of securities available for sale at December 31, 2013 and 2012:
| At December 31, 2013
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In thousands)
Debt securities: |  |  |  |  |  |  |
U.S. Government agency and U.S. Government sponsored enterprises |  |  |  |  |  |  |
Collateralized mortgage obligations | $ | 286,608 |  |  | $ | 1,104 |  |  | $ | (13,611 | ) |  | $ | 274,101 |
Mortgage-backed securities | 409,165 |  |  | 3,620 |  |  | (7,789 | ) |  | 404,996 |
Trust preferred securities | 4,516 |  |  | — |  |  | (819 | ) |  | 3,697 |
Municipal bonds | 5,687 |  |  | 319 |  |  | (70 | ) |  | 5,936 |
Total debt securities | 705,976 |  |  | 5,043 |  |  | (22,289 | ) |  | 688,730 |
Mutual funds | 17,425 |  |  | — |  |  | (404 | ) |  | 17,021 |
| $ | 723,401 |  |  | $ | 5,043 |  |  | $ | (22,693 | ) |  | $ | 705,751 |
| At December 31, 2012
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (In thousands)
Debt securities: |  |  |  |  |  |  |
U.S. Government agency and U.S. Government sponsored enterprises |  |  |  |  |  |  |
Collateralized mortgage obligations | $ | 249,373 |  |  | $ | 5,649 |  |  | $ | (110 | ) |  | $ | 254,912 |
Mortgage-backed securities | 415,925 |  |  | 10,277 |  |  | (662 | ) |  | 425,540 |
Trust preferred securities | 4,502 |  |  | — |  |  | (665 | ) |  | 3,837 |
Municipal bonds | 4,506 |  |  | 612 |  |  | — |  |  | 5,118 |
Total debt securities | 674,306 |  |  | 16,538 |  |  | (1,437 | ) |  | 689,407 |
Mutual funds | 14,710 |  |  | 286 |  |  | — |  |  | 14,996 |
| $ | 689,016 |  |  | $ | 16,824 |  |  | $ | (1,437 | ) |  | $ | 704,403 |
Schedule of Realized Gain (Loss) | The proceeds from sales of securities and the associated gains are listed below:
| 2013 |  | 2012 |  | 2011
| (in thousands)
Proceeds | $ | 6,634 |  |  | $ | 28,446 |  |  | $ | 139,458 |
Gross gains | 54 |  |  | 949 |  |  | 1,219 |
Gross losses | — |  |  | — |  |  | — |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of debt securities at December 31, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
| Amortized Cost |  | Estimated Fair Value
| (In thousands)
Available for sale: |  |  |
Due within one year | $ | — |  |  | $ | — |
Due after one year through five years | 340 |  |  | 350 |
Due after five years through ten years | 3,883 |  |  | 4,170 |
Due after ten years | 5,980 |  |  | 5,113 |
U.S. Government agency and U.S. Government sponsored enterprises |  |  |
Collateralized mortgage obligations | 286,608 |  |  | 274,101 |
Mortgage-backed securities | 409,165 |  |  | 404,996 |
Mutual funds | 17,425 |  |  | 17,021 |
| $ | 723,401 |  |  | $ | 705,751 |
Schedule of Unrealized Loss on Investments | Securities with gross unrealized losses, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated, are as follows:
| At December 31, 2013
| Less than 12 months |  | 12 months or longer |  | Total
Description of Securities | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses
| (Dollars in thousands)
Collateralized mortgage obligations* | 21 |  |  | $ | 198,713 |  |  | $ | (12,460 | ) |  | 3 |  |  | $ | 13,381 |  |  | $ | (1,151 | ) |  | 24 |  |  | $ | 212,094 |  |  | $ | (13,611 | )
Mortgage-backed securities* | 29 |  |  | 203,276 |  |  | (7,293 | ) |  | 7 |  |  | 14,793 |  |  | (496 | ) |  | 36 |  |  | 218,069 |  |  | (7,789 | )
Municipal bonds | 1 |  |  | 1,112 |  |  | (70 | ) |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1,112 |  |  | (70 | )
Trust preferred securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,697 |  |  | (819 | ) |  | 1 |  |  | 3,697 |  |  | (819 | )
Mutual funds | 1 |  |  | 13,021 |  |  | (404 | ) |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 13,021 |  |  | (404 | )
| 52 |  |  | $ | 416,122 |  |  | $ | (20,227 | ) |  | 11 |  |  | $ | 31,871 |  |  | $ | (2,466 | ) |  | 63 |  |  | $ | 447,993 |  |  | $ | (22,693 | )
* Investments in U.S. Government agency and U.S. Government sponsored enterprises
| At December 31, 2012
| Less than 12 months |  | 12 months or longer |  | Total
Description of Securities | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses
| (Dollars in thousands)
Collateralized mortgage obligations* | 3 |  |  | $ | 18,009 |  |  | $ | (110 | ) |  | — |  |  | $ | — |  |  | $ | — |  |  | 3 |  |  | $ | 18,009 |  |  | $ | (110 | )
Mortgage-backed securities* | 7 |  |  | 32,406 |  |  | (597 | ) |  | 3 |  |  | 8,251 |  |  | (64 | ) |  | 10 |  |  | 40,657 |  |  | (661 | )
Trust preferred securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,837 |  |  | (665 | ) |  | 1 |  |  | 3,837 |  |  | (665 | )
Mutual funds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 10 |  |  | $ | 50,415 |  |  | $ | (707 | ) |  | 4 |  |  | $ | 12,088 |  |  | $ | (729 | ) |  | 14 |  |  | $ | 62,503 |  |  | $ | (1,436 | )
* Investments in U.S. Government agency and U.S. Government sponsored enterprises

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