Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of available for sale securities

The following table summarizes available-for-sale securities held by the Company at March 31, 2018:



	Available-for-Sale Securities
March 31, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	498,644	$	7	$	8,804	$	489,847
Obligations of U.S. states and political subdivisions	91,623		106		1,381		90,348
Mortgage-backed securities – residential, issued by
U.S. Government agencies	133,524		461		4,305		129,680
U.S. Government sponsored entities	681,110		422		22,877		658,655
Non-U.S. Government agencies or sponsored entities	64		0		0		64
U.S. corporate debt securities	2,500		0		325		2,175
Total debt securities	1,407,465		996		37,692		1,370,769
Equity securities	895		0		0		895
Total available-for-sale securities	$	1,408,360	$	996	$	37,692	$	1,371,664

The following table summarizes available-for-sale securities held by the Company at December 31, 2017:



	Available-for-Sale Securities
December 31, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	507,248	$	278	$	3,333	$	504,193
Obligations of U.S. states and political subdivisions	91,659		281		421		91,519
Mortgage-backed securities – residential, issued by
U.S. Government agencies	139,747		659		2,671		137,735
U.S. Government sponsored entities	667,767		1,045		12,634		656,178
Non-U.S. Government agencies or sponsored entities	75		0		0		75
U.S. corporate debt securities	2,500		0		338		2,162
Total debt securities	1,408,996		2,263		19,397		1,391,862
Equity securities	1,000		0		87		913
Total available-for-sale securities	$	1,409,996	$	2,263	$	19,484	$	1,392,775

Schedule of held to maturity securities

The following table summarizes held-to-maturity securities held by the Company at March 31, 2018:



	Held-to-Maturity Securities
March 31, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	131,607	$	0	$	1,327	$	130,280
Obligations of U.S. states and political subdivisions	7,524		46		7		7,563
Total held-to-maturity debt securities	$	139,131	$	46	$	1,334	$	137,843

The following table summarizes held-to-maturity securities held by the Company at December 31, 2017:



	Held-to-Maturity Securities
December 31, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(in thousands)
Obligations of U.S. Government sponsored entities	$	131,707	$	1,103	$	90	$	132,720
Obligations of U.S. states and political subdivisions	7,509		93		7		7,595
Total held-to-maturity debt securities	$	139,216	$	1,196	$	97	$	140,315

Schedule of available for sale securities with unrealized losses

The following table summarizes available-for-sale securities that had unrealized losses at March 31, 2018:



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	409,674	$	7,130	$	53,485	$	1,674	$	463,159	$	8,804
Obligations of U.S. states and political subdivisions	55,531		854		11,677		527		67,208		1,381

Mortgage-backed securities – residential, issued by
U.S. Government agencies	29,731		892		83,490		3,413		113,221		4,305
U.S. Government sponsored entities	254,886		5,999		387,360		16,878		642,246		22,877
U.S. corporate debt securities	0		0		2,175		325		2,175		325
Total available-for-sale securities	$	749,822	$	14,875	$	538,187	$	22,817	$	1,288,009	$	37,692

The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2017:



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	319,545	$	2,301	$	39,791	$	1,032	$	359,336	$	3,333
Obligations of U.S. states and political subdivisions	39,571		219		11,729		202		51,300		421

Mortgage-backed securities – residential, issued by
U.S. Government agencies	33,056		452		86,562		2,219		119,618		2,671
U.S. Government sponsored entities	208,524		1,941		410,767		10,693		619,291		12,634
U.S. corporate debt securities	0		0		2,163		338		2,163		338
Equity securities	0		0		913		87		913		87
Total available-for-sale securities	$	600,696	$	4,913	$	551,925	$	14,571	$	1,152,621	$	19,484

Schedule Held-to-maturity Securities With Unrealized Losses

The following table summarizes held-to-maturity securities that had unrealized losses at March 31, 2018.



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	130,280	$	1,327	$	0	$	0	$	130,280	$	1,327

Obligations of U.S. states and political subdivisions	4,193		7		0		0		4,193		7
Total held-to-maturity securities	$	134,473	$	1,334	$	0	$	0	$	134,473	$	1,334

The following table summarizes held-to-maturity securities that had unrealized losses at December 31, 2017.



	Less than 12 Months				12 Months or Longer				Total
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	20,505	$	90	$	0	$	0	$	20,505	$	90

Obligations of U.S. states and political subdivisions	5,094		7		0		0		5,094		7
Total held-to-maturity securities	$	25,599	$	97	$	0	$	0	$	25,599	$	97

Schedule of amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.



March 31, 2018
(in thousands)	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	36,830	$	36,761
Due after one year through five years	348,958		344,236
Due after five years through ten years	189,435		184,497
Due after ten years	17,544		16,876
Total	592,767		582,370
Mortgage-backed securities	814,698		788,399
Total available-for-sale debt securities	$	1,407,465	$	1,370,769



December 31, 2017
(in thousands)	Amortized Cost		Fair Value
Available-for-sale securities:
Due in one year or less	$	51,909	$	51,932
Due after one year through five years	368,846		367,377
Due after five years through ten years	162,061		160,374
Due after ten years	18,591		18,191
Total	601,407		597,874
Mortgage-backed securities	807,589		793,988
Total available-for-sale debt securities	$	1,408,996	$	1,391,862



March 31, 2018
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity securities:
Due in one year or less	$	6,636	$	6,638
Due after one year through five years	62,088		61,519
Due after five years through ten years	70,407		69,686
Total held-to-maturity debt securities	$	139,131	$	137,843



December 31, 2017
(in thousands)	Amortized Cost		Fair Value
Held-to-maturity securities:
Due in one year or less	$	5,980	$	5,979
Due after one year through five years	51,936		52,227
Due after five years through ten years	81,300		82,109
Due after ten years	0		0
Total held-to-maturity debt securities	$	139,216	$	140,315

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

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