XML 73 R42.htm IDEA: XBRL DOCUMENT v3.25.0.1
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Securities
The amortized cost and estimated fair value of AFS investment securities were as follows:
(Dollars in thousands)Amortized
Cost		Gross Unrealized
Gain		Gross Unrealized
Loss		Estimated
Fair Value
AFS investment securities:
December 31, 2024    
U.S. Treasury$1,166,474 $2,192 $(2,581)$1,166,085 
Agency1,148 — (40)1,108 
Corporate408,256 421 (16,419)392,258 
Collateralized mortgage obligations124,502 4 (742)123,764 
Total AFS investment securities$1,700,380 $2,617 $(19,782)$1,683,215 
December 31, 2023
U.S. Treasury$538,899 $381 $(24)$539,256 
Agency1,941 — (73)1,868 
Corporate481,499 52 (35,208)446,343 
Collateralized mortgage obligations153,701 — (1,097)152,604 
Total AFS investment securities$1,176,040 $433 $(36,402)$1,140,071 

The carrying amount and estimated fair value of HTM investment securities were as follows:
(Dollars in thousands)Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross Unrecognized
Gain		Gross Unrecognized
Loss		Estimated
Fair Value
HTM investment securities:    
December 31, 2024
Municipal bonds$1,144,862 $(110)$1,144,752 $— $(242,298)$902,454 
Collateralized mortgage obligations309,653 — 309,653 3,886 (8,718)304,821 
Mortgage-backed securities241,223 — 241,223 67 (36,664)204,626 
Other16,176 — 16,176 — — 16,176 
Total HTM investment securities$1,711,914 $(110)$1,711,804 $3,953 $(287,680)$1,428,077 
December 31, 2023
Municipal bonds$1,146,244 $(126)$1,146,118 $819 $(206,361)$940,576 
Collateralized mortgage obligations334,997 — 334,997 1,565 (9,570)326,992 
Mortgage-backed securities232,157 — 232,157 310 (30,798)201,669 
Other16,269 — 16,269 — — 16,269 
Total HTM investment securities$1,729,667 $(126)$1,729,541 $2,694 $(246,729)$1,485,506 
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 summarizes the number, fair value, and gross unrealized holding losses of the Company’s AFS investment securities in an unrealized loss position for which an ACL has not been recorded as of the dates indicated, aggregated by investment category and length of time in a continuous loss position.

 December 31, 2024
 Less than 12 months12 months or LongerTotal
(Dollars in thousands)NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses
AFS investment securities:
U.S. Treasury21 $519,211 $(2,581)— $— $— 21 $519,211 $(2,581)
Agency— — — 4 1,108 (40)4 1,108 (40)
Corporate1 9,007 (4)25 227,250 (16,415)26 236,257 (16,419)
Collateralized mortgage obligations2 11,161 (37)23 108,783 (705)25 119,944 (742)
Total AFS investment securities24 $539,379 $(2,622)52 $337,141 $(17,160)76 $876,520 $(19,782)
 December 31, 2023
 Less than 12 months12 months or LongerTotal
(Dollars in thousands)NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses
AFS investment securities:
U.S. Treasury4 $98,622 $(24)— $— $— 4 $98,622 $(24)
Agency— — — 4 1,868 (73)4 1,868 (73)
Corporate1 4,989 (3)47 431,353 (35,205)48 436,342 (35,208)
Collateralized mortgage obligations— — — 28 152,604 (1,097)28 152,604 (1,097)
Total AFS investment securities5 $103,611 $(27)79 $585,825 $(36,375)84 $689,436 $(36,402)
Schedule of Allowance for Credit Losses on Company's Held-to-maturity Debt Securities The following table presents a roll forward by major security type of the ACL on the Company's HTM debt securities as of, and for the periods indicated:
(Dollars in thousands)
Beginning ACL Balance
Provision for Credit Losses
Ending ACL Balance
For the Year Ended December 31, 2024
HTM Investment securities:
Municipal bonds$126 $(16)$110 
(Dollars in thousands)
Beginning ACL Balance
Provision for Credit Losses
Ending ACL Balance
For the Year Ended December 31, 2023
HTM Investment securities:
Municipal bonds$43 $83 $126 
(Dollars in thousands)
Beginning ACL Balance
Provision for Credit Losses
Ending ACL Balance
For the Year Ended December 31, 2022
HTM Investment securities:
Municipal bonds$22 $21 $43 
Schedule of Realized Gain (Loss) on Investments
The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the periods indicated:

For the Year Ended December 31,
(Dollars in thousands)202420232022
Amortized cost of AFS investment securities sold$— $1,822,531 $934,703 
Gross realized gains$— $986 $13,645 
Gross realized losses— (254,913)(11,935)
Net realized (losses) gains on sales of AFS investment securities
$— $(253,927)$1,710 
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale by Contractual Maturity
The amortized cost and fair value of investment securities at December 31, 2024, 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
(Dollars in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
AFS investment securities:          
Treasury$794,668 $796,538 $371,806 $369,547 $— $— $— $— $1,166,474 $1,166,085 
Agency— — 722 701 — — 426 407 1,148 1,108 
Corporate— — 220,318 219,815 187,938 172,443 — — 408,256 392,258 
Collateralized mortgage obligations— — 59,033 58,756 27,856 27,708 37,613 37,300 124,502 123,764 
Total AFS investment securities794,668 796,538 651,879 648,819 215,794 200,151 38,039 37,707 1,700,380 1,683,215 
HTM investment securities:          
Municipal bonds— — 38,720 36,263 43,392 38,063 1,062,750 828,128 1,144,862 902,454 
Collateralized mortgage obligations— — 45 45 — — 309,608 304,776 309,653 304,821 
Mortgage-backed securities— — 2,943 2,980 6,050 5,978 232,230 195,668 241,223 204,626 
Other— — — — — — 16,176 16,176 16,176 16,176 
Total HTM investment securities— — 41,708 39,288 49,442 44,041 1,620,764 1,344,748 1,711,914 1,428,077 
Total investment securities$794,668 $796,538 $693,587 $688,107 $265,236 $244,192 $1,658,803 $1,382,455 $3,412,294 $3,111,292