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Securities (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-sale
The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at June 30, 2021 and December 31, 2020 are as follows (in thousands):
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		Allowance for Credit Losses
At June 30, 2021
Debt securities available-for-sale:
U.S. government and agency obligations$144,233 $2,056 $(9)$146,280 $— 
Corporate debt securities5,000 30 (3)5,027 — 
Collateralized loan obligations (“CLOs”)97,861 101 (45)97,917 — 
Mortgage-backed securities - FNMA105 1 — 106 — 
Total debt securities available-for-sale$247,199 $2,188 $(57)$249,330 $— 
Debt securities held-to-maturity:
State, municipal and sovereign debt obligations301,343 9,544 (690)310,197 (89)
Corporate debt securities71,841 1,633 (1,474)72,000 (1,408)
Mortgage-backed securities:
FHLMC340,085 4,234 (1,846)342,473 — 
FNMA349,643 5,640 (1,379)353,904 — 
GNMA51,286 1,309 (22)52,573 — 
SBA4,925 15 (44)4,896 — 
Other32,216 864 — 33,080 (112)
Total mortgage-backed securities778,155 12,062 (3,291)786,926 (112)
Total debt securities held-to-maturity$1,151,339 $23,239 $(5,455)$1,169,123 $(1,609)
Total debt securities$1,398,538 $25,427 $(5,512)$1,418,453 $(1,609)
At December 31, 2020
Debt securities available-for-sale:
U.S. government and agency obligations$173,790 $3,152 $(2)$176,940 $— 
CLOs6,174 — (4)6,170 — 
Mortgage-backed securities - FNMA190 2 — 192 — 
Total debt securities available-for-sale$180,154 $3,154 $(6)$183,302 $— 
Debt securities held-to-maturity:
State and municipal obligations238,405 11,500 (231)249,674 (48)
Corporate debt securities72,305 1,615 (2,652)71,268 (1,550)
Mortgage-backed securities:
FHLMC232,942 5,383 (124)238,201 — 
FNMA293,615 7,640 (147)301,108 — 
GNMA67,334 2,014 (12)69,336 — 
SBA5,392 — (60)5,332 — 
Other32,321 1,226 — 33,547 (117)
Total mortgage-backed securities631,604 16,263 (343)647,524 (117)
Total debt securities held-to-maturity$942,314 $29,378 $(3,226)$968,466 $(1,715)
Total debt securities$1,122,468 $32,532 $(3,232)$1,151,768 $(1,715)
Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three and six months ended June 30, 2021 and 2020 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Allowance for credit losses
Beginning balance$(1,717)$(2,529)$(1,715)$— 
Impact of CECL adoption— — — (1,268)
Provision for credit loss expense108 83 106 (1,178)
Total ending allowance balance$(1,609)$(2,446)$(1,609)$(2,446)
Schedule of Carrying Value of Held-to-Maturity Investment Securities The carrying value of the debt securities held-to-maturity at June 30, 2021 and December 31, 2020 is as follows (in thousands): 
June 30, 2021December 31, 2020
Amortized cost$1,151,339 $942,314 
Net loss on date of transfer from available-for-sale(13,347)(13,347)
Allowance for securities credit loss(1,609)(1,715)
Accretion of net unrealized loss on securities reclassified as held-to-maturity10,352 10,001 
Carrying value$1,146,735 $937,253 
The realized and unrealized gains or losses on equity securities for the three and six months ended June 30, 2021 and June 30, 2020 are shown in the table below (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Net gain on equity investments$576 $148 $8,863 $303 
Less: Net gains (losses) recognized on equity securities sold— (53)8,123 (53)
Unrealized gain recognized on equity securities still held$576 $201 $740 $356 
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities at June 30, 2021 by contractual maturity are shown below (in thousands). Actual maturities may differ from contractual maturities in instances where issuers have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2021, corporate debt securities with an amortized cost of $34.0 million, and estimated fair value of $35.5 million, and CLOs with an amortized cost and estimated fair value of $97.9 million were callable prior to the maturity date.
 
June 30, 2021Amortized
Cost		Estimated
Fair Value
Less than one year$95,776 $96,440 
Due after one year through five years177,734 181,538 
Due after five years through ten years195,691 195,161 
Due after ten years151,077 158,282 
$620,278 $631,421 
Summary of Estimated Fair Value and Unrealized Loss for Securities Available-for-Sale and Held-to-Maturity
The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at June 30, 2021 and December 31, 2020, segregated by the duration of the unrealized losses, are as follows (in thousands):
 Less than 12 months12 months or longerTotal
 Estimated
Fair
Value		Unrealized
Losses		Estimated
Fair
Value		Unrealized
Losses		Estimated
Fair
Value		Unrealized
Losses
At June 30, 2021
Debt securities available-for-sale:
U.S. government and agency obligations$15,114 $(9)$— $— $15,114 $(9)
Corporate debt securities997 (3)— — 997 (3)
CLOs40,521 (45)— — 40,521 (45)
Total debt securities available-for-sale56,632 (57)— — 56,632 (57)
Debt securities held-to-maturity:
State, municipal and sovereign debt obligations58,149 (427)5,877 (263)64,026 (690)
Corporate debt securities37,888 (1,471)507 (3)38,395 (1,474)
Mortgage-backed securities:
FHLMC160,445 (1,846)— — 160,445 (1,846)
FNMA166,605 (1,376)272 (3)166,877 (1,379)
GNMA5,924 (22)— — 5,924 (22)
SBA1,619 (42)1,789 (2)3,408 (44)
Total mortgage-backed securities334,593 (3,286)2,061 (5)336,654 (3,291)
Total debt securities held-to-maturity430,630 (5,184)8,445 (271)439,075 (5,455)
Total debt securities$487,262 $(5,241)$8,445 $(271)$495,707 $(5,512)
At December 31, 2020
Debt securities available-for-sale:
U.S. government and agency obligations$17,029 $(2)$— $— $17,029 $(2)
CLOs4,766 (4)— — 4,766 (4)
Total debt securities available-for-sale21,795 (6)— — 21,795 (6)
Debt securities held-to-maturity:
State and municipal obligations2,823 (23)7,509 (208)10,332 (231)
Corporate debt securities10,192 (255)35,935 (2,397)46,127 (2,652)
Mortgage-backed securities:
FHLMC24,661 (117)669 (7)25,330 (124)
FNMA39,365 (128)939 (19)40,304 (147)
GNMA5,856 (11)207 (1)6,063 (12)
SBA3,626 (12)1,706 (48)5,332 (60)
Total mortgage-backed securities73,508 (268)3,521 (75)77,029 (343)
Total debt securities held-to-maturity86,523 (546)46,965 (2,680)133,488 (3,226)
Total debt securities$108,318 $(552)$46,965 $(2,680)$155,283 $(3,232)
Schedule of Debt Securities, Held-to-maturity, Credit Quality Indicator The following table summarized the amortized cost of debt securities held-to-maturity at June 30, 2021, aggregated by credit quality indicator (in thousands):
AAAAAABBBBBTotal
As of June 30, 2021
State, municipal and sovereign debt obligations$32,807 $148,920 $86,601 $33,015 $— $301,343 
Corporate debt securities— 497 12,013 48,804 10,527 71,841 
Mortgage-backed securities - other11,103 21,113 — — — 32,216 
Total debt securities held-to-maturity$43,910 $170,530 $98,614 $81,819 $10,527 $405,400