XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Securities Available for Sale (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
Available-for-sale Securities [Abstract] |
Summary of Securities Available for Sale | The following is a summary of securities available for sale as of the dates indicated:
| At March 31, 2016
| 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 | $ | 493,539 |  |  | $ | 5,189 |  |  | $ | (702 | ) |  | $ | 498,026 |
Mortgage-backed securities | 520,254 |  |  | 7,245 |  |  | (589 | ) |  | 526,910 |
Trust preferred securities | 4,549 |  |  | — |  |  | (1,155 | ) |  | 3,394 |
Municipal bonds | 44,000 |  |  | 2,120 |  |  | (7 | ) |  | 46,113 |
Total debt securities | 1,062,342 |  |  | 14,554 |  |  | (2,453 | ) |  | 1,074,443 |
Mutual funds | 13,425 |  |  | 29 |  |  | — |  |  | 13,454 |
| $ | 1,075,767 |  |  | $ | 14,583 |  |  | $ | (2,453 | ) |  | $ | 1,087,897 |
| At December 31, 2015
| 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 | $ | 454,096 |  |  | $ | 839 |  |  | $ | (4,955 | ) |  | $ | 449,980 |
Mortgage-backed securities | 497,889 |  |  | 3,003 |  |  | (2,845 | ) |  | 498,047 |
Trust preferred securities | 4,545 |  |  | — |  |  | (796 | ) |  | 3,749 |
Municipal bonds | 44,105 |  |  | 1,406 |  |  | — |  |  | 45,511 |
Total debt securities | 1,000,635 |  |  | 5,248 |  |  | (8,596 | ) |  | 997,287 |
Mutual funds | 13,425 |  |  | — |  |  | (156 | ) |  | 13,269 |
| $ | 1,014,060 |  |  | $ | 5,248 |  |  | $ | (8,752 | ) |  | $ | 1,010,556 |
Schedule of Realized Gain (Loss) | The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below:
| Three Months Ended March 31,
| 2016 |  | 2015
| (In thousands)
Proceeds | $ | — |  |  | $ | 22,510 |
Gross gains | — |  |  | 437 |
Gross losses | — |  |  | (13 | )
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities at March 31, 2016, 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 | 2,171 |  |  | 2,338 |
Due after five years through ten years | 28,847 |  |  | 30,177 |
Due after ten years | 17,531 |  |  | 16,992 |
U.S. Government agency and U.S. Government sponsored enterprises |  |  |
Collateralized mortgage obligations | 493,539 |  |  | 498,026 |
Mortgage-backed securities | 520,254 |  |  | 526,910 |
Mutual funds | 13,425 |  |  | 13,454 |
| $ | 1,075,767 |  |  | $ | 1,087,897 |
Schedule of Unrealized Loss on Investments | The following tables show our investments’ gross unrealized losses and estimated fair value, 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.
| As of March 31, 2016
| 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
| (In thousands)
Collateralized mortgage obligations* | 1 |  |  | $ | 7,098 |  |  | $ | (26 | ) |  | 9 |  |  | $ | 78,032 |  |  | $ | (676 | ) |  | 10 |  |  | $ | 85,130 |  |  | $ | (702 | )
Mortgage-backed securities* | 7 |  |  | 13,612 |  |  | (42 | ) |  | 4 |  |  | 30,527 |  |  | (547 | ) |  | 11 |  |  | 44,139 |  |  | (589 | )
Trust preferred securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,394 |  |  | (1,155 | ) |  | 1 |  |  | 3,394 |  |  | (1,155 | )
Municipal bonds | 2 |  |  | 1,076 |  |  | (7 | ) |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 1,076 |  |  | (7 | )
Mutual funds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 10 |  |  | $ | 21,786 |  |  | $ | (75 | ) |  | 14 |  |  | $ | 111,953 |  |  | $ | (2,378 | ) |  | 24 |  |  | $ | 133,739 |  |  | $ | (2,453 | )
* Investments in U.S. Government agency and U.S. Government sponsored enterprises
| As of December 31, 2015
| 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
| (In thousands)
Collateralized mortgage obligations* | 31 |  |  | $ | 300,202 |  |  | $ | (2,611 | ) |  | 8 |  |  | $ | 70,857 |  |  | $ | (2,344 | ) |  | 39 |  |  | $ | 371,059 |  |  | $ | (4,955 | )
Mortgage-backed securities* | 28 |  |  | 247,160 |  |  | (1,487 | ) |  | 3 |  |  | 27,947 |  |  | (1,358 | ) |  | 31 |  |  | 275,107 |  |  | (2,845 | )
Trust Preferred securities | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,750 |  |  | (796 | ) |  | 1 |  |  | 3,750 |  |  | (796 | )
Municipal bonds | 1 |  |  | 127 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 127 |  |  | — |
Mutual funds | 1 |  |  | 13,269 |  |  | (156 | ) |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 13,269 |  |  | (156 | )
| 61 |  |  | $ | 560,758 |  |  | $ | (4,254 | ) |  | 12 |  |  | $ | 102,554 |  |  | $ | (4,498 | ) |  | 73 |  |  | $ | 663,312 |  |  | $ | (8,752 | )
* Investments in U.S. Government agency and U.S. Government sponsored enterprises

X
- References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=27724398&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration