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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and estimated fair value of securities The amortized cost and estimated fair value of securities were as follows:
 June 30, 2020
 Amortized
 Cost
Gross Unrealized
Gain
Gross Unrealized
Loss
Estimated
Fair Value
 (Dollars in thousands)
Investment securities available-for-sale:    
U.S. Treasury$30,170  $2,700  $—  $32,870  
Agency315,927  24,419  (356) 339,990  
Corporate274,076  1,698  (1,775) 273,999  
Municipal bonds439,772  21,629  (66) 461,335  
Collateralized mortgage obligations380,527  4,260  (48) 384,739  
Mortgage-backed securities814,012  29,375  (254) 843,133  
Total investment securities available-for-sale2,254,484  84,081  (2,499) 2,336,066  
Investment securities held-to-maturity:
Mortgage-backed securities30,892  1,622  —  32,514  
Other1,665  —  —  1,665  
Total investment securities held-to-maturity32,557  1,622  —  34,179  
Total investment securities$2,287,041  $85,703  $(2,499) $2,370,245  
 December 31, 2019
 Amortized
Cost
Gross Unrealized
Gain
Gross Unrealized
Loss
Estimated
Fair Value
 (Dollars in thousands)
Investment securities available-for-sale:    
U.S. Treasury$60,457  $3,137  $(39) $63,555  
Agency240,348  7,686  (1,676) 246,358  
Corporate149,150  2,217  (14) 151,353  
Municipal bonds384,032  13,450  (184) 397,298  
Collateralized mortgage obligations9,869  123  (8) 9,984  
Mortgage-backed securities494,404  7,603  (2,171) 499,836  
Total investment securities available-for-sale1,338,260  34,216  (4,092) 1,368,384  
Investment securities held-to-maturity:
Mortgage-backed securities36,114  922  —  37,036  
Other1,724  —  —  1,724  
Total investment securities held-to-maturity37,838  922  —  38,760  
Total investment securities$1,376,098  $35,138  $(4,092) $1,407,144  
Schedule of number, fair value and gross unrealized holding losses of the Company's investment securities by investment category and length of time that the securities have been in a continuous loss position
The table below shows the number, fair value and gross unrealized holding losses of the Company’s investment securities by investment category and length of time that the securities have been in a continuous loss position.
 June 30, 2020
 Less than 12 Months12 Months or LongerTotal
NumberFair
Value
Gross
Unrealized
Losses
NumberFair
Value
Gross
Unrealized
Losses
NumberFair
Value
Gross
Unrealized
Losses
 (Dollars in thousands)
Investment securities available-for-sale:
U.S. Treasury—  $—  $—  —  $—  $—  —  $—  $—  
Agency 12,361  (10)  11,687  (346) 10  24,048  (356) 
Corporate13  84,559  (1,775) —  —  —  13  84,559  (1,775) 
Municipal bonds 19,326  (66) —  —  —   19,326  (66) 
Collateralized mortgage obligations 26,593  (47)  522  (1)  27,115  (48) 
Mortgage-backed securities.11  93,393  (254) —  —  —  11  93,393  (254) 
Total investment securities available-for-sale35  236,232  (2,152) 10  12,209  (347) 45  248,441  (2,499) 

 December 31, 2019
 Less than 12 Months12 Months or LongerTotal
NumberFair
Value
Gross
Unrealized
Losses
NumberFair
Value
Gross
Unrealized
Losses
NumberFair
Value
Gross
Unrealized
Losses
 (Dollars in thousands)
Investment securities available-for-sale:
U.S. Treasury $10,194  $(39) —  $—  $—   $10,194  $(39) 
Agency13  102,874  (1,340)  13,514  (336) 22  116,388  (1,676) 
Corporate 1,017  (14) —  —  —   1,017  (14) 
Municipal bonds12  30,541  (184) —  —  —  12  30,541  (184) 
Collateralized mortgage obligations—  —  —   603  (8)  603  (8) 
Mortgage-backed securities18  130,014  (1,681) 11  26,886  (490) 29  156,900  (2,171) 
Total investment securities available-for-sale45  274,640  (3,258) 21  41,003  (834) 66  315,643  (4,092) 
Schedule of amortized cost and estimated fair value of investment securities available for sale by contractual maturity The amortized cost and estimated fair value of investment securities at June 30, 2020, by contractual maturity are shown in the table below.
Due in One Year
or Less
Due after One Year
through Five Years
Due after Five Years
through Ten Years
Due after
Ten Years
Total
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
 (Dollars in thousands)
Investment securities available-for-sale:          
U.S. Treasury$—  $—  $20,147  $21,577  $10,023  $11,293  $—  $—  $30,170  $32,870  
Agency1,000  1,013  40,577  43,830  203,033  218,452  71,317  76,695  315,927  339,990  
Corporate76,883  76,988  73,958  74,303  123,235  122,708  —  —  274,076  273,999  
Municipal bonds—  —  1,452  1,574  29,653  31,980  408,667  427,781  439,772  461,335  
Collateralized mortgage obligations—  —  —  —  52,686  53,250  327,841  331,489  380,527  384,739  
Mortgage-backed securities—  —  2,213  2,419  191,695  206,540  620,104  634,174  814,012  843,133  
Total investment securities available-for-sale77,883  78,001  138,347  143,703  610,325  644,223  1,427,929  1,470,139  2,254,484  2,336,066  
Investment securities held-to-maturity:
Mortgage-backed securities—  —  —  —  —  —  30,892  32,514  30,892  32,514  
Other—  —  —  —  —  —  1,665  1,665  1,665  1,665  
Total investment securities held-to-maturity—  —  —  —  —  —  32,557  34,179  32,557  34,179  
Total investment securities$77,883  $78,001  $138,347  $143,703  $610,325  $644,223  $1,460,486  $1,504,318  $2,287,041  $2,370,245  
Schedule of Investment Securities by External Credit Rating The following table summarizes the Company’s investment securities portfolio by Moody’s external rating equivalent and by vintage as of June 30, 2020:
Vintage
20202019201820172016PriorTotal
(Dollars in thousands)
Investment securities available-for-sale:
U.S. Treasury
Aaa - Aa3$—  $—  $22,103  $10,767  $—  $—  $32,870  
Agency
Aaa - Aa328,924  44,590  159,345  9,759  21,556  75,816  339,990  
Corporate debt
A1 - A3—  19,856  —  —  119,687  9,344  148,887  
Baa1 - Baa319,652  41,571  5,100  18,131  8,857  31,801  125,112  
Municipal bonds
Aaa - Aa367,718  264,432  32,497  50,889  15,176  30,623  461,335  
Collateralized mortgage obligations
Aaa - Aa337,610  44,082  162,056  4,208  119,932  16,851  384,739  
Mortgage-backed securities
Aaa - Aa3164,071  217,705  49,247  220,385  94,794  96,931  843,133  
Total investment securities available-for-sale317,975  632,236  430,348  314,139  380,002  261,366  2,336,066  
Investment securities held-to-maturity:
Mortgage-backed securities
Aaa - Aa3—  —  9,538  7,487  5,356  8,511  30,892  
Other
Baa1 - Baa3—  —  663  —  —  1,002  1,665  
Total investment securities held-to-maturity—  —  10,201  7,487  5,356  9,513  32,557  
Total investment securities$317,975  $632,236  $440,549  $321,626  $385,358  $270,879  $2,368,623