XML 121 R32.htm IDEA: XBRL DOCUMENT v3.19.3
Securities (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and fair value by major categories of available-for-sale investment securities

The following tables present the amortized cost, gross unrealized gains and losses, and fair value by major categories of available-for-sale investment securities as of September 30, 2019 and December 31, 2018:
 
($ in thousands)
 
September 30, 2019
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
427,535

 
$
—

 
$
(1,422
)
 
$
426,113

U.S. government agency and U.S. government sponsored enterprise debt securities
 
688,529

 
2,924

 
(85
)
 
691,368

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
539,957

 
12,500

 
(2,664
)
 
549,793

Residential mortgage-backed securities
 
914,379

 
11,914

 
(906
)
 
925,387

Municipal securities
 
76,948

 
1,218

 
(7
)
 
78,159

Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
67,518

 
2,731

 
(6
)
 
70,243

Residential mortgage-backed securities
 
31,209

 
425

 
(139
)
 
31,495

Corporate debt securities
 
11,250

 
—

 
(228
)
 
11,022

Foreign bonds
 
454,431

 
607

 
(1,859
)
 
453,179

Asset-backed securities
 
48,028

 
—

 
(753
)
 
47,275

Total available-for-sale investment securities
 
$
3,259,784

 
$
32,319

 
$
(8,069
)
 
$
3,284,034

 
 
($ in thousands)
 
December 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
577,561

 
$
153

 
$
(12,899
)
 
$
564,815

U.S. government agency and U.S. government sponsored enterprise debt securities
 
219,485

 
382

 
(2,694
)
 
217,173

U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 


Commercial mortgage-backed securities
 
420,486

 
811

 
(12,694
)
 
408,603

Residential mortgage-backed securities
 
957,219

 
4,026

 
(14,552
)
 
946,693

Municipal securities
 
82,965

 
87

 
(1,032
)
 
82,020

Non-agency mortgage-backed securities:
 
 
 
 
 
 
 


Commercial mortgage-backed securities
 
25,826

 
226

 
—

 
26,052

Residential mortgage-backed securities
 
10,109

 
7

 
(185
)
 
9,931

Corporate debt securities
 
11,250

 
—

 
(381
)
 
10,869

Foreign bonds
 
489,378

 
—

 
(26,330
)
 
463,048

Asset-backed securities
 
12,621

 
22

 
—

 
12,643

Total available-for-sale investment securities
 
$
2,806,900

 
$
5,714

 
$
(70,767
)
 
$
2,741,847

 
 
 
 
 
 
 
 
 
Schedule of fair value and associated gross unrealized losses of available-for-sale investment securities
The following tables present the fair value and the associated gross unrealized losses of the Company’s available-for-sale investment securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position, as of September 30, 2019 and December 31, 2018:
 
($ in thousands)
 
September 30, 2019
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
199,711

 
$
(76
)
 
$
226,402

 
$
(1,346
)
 
$
426,113

 
$
(1,422
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
354,916

 
(85
)
 
—

 
—

 
354,916

 
(85
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
60,336

 
(573
)
 
116,139

 
(2,091
)
 
176,475

 
(2,664
)
Residential mortgage-backed securities
 
87,356

 
(553
)
 
43,403

 
(353
)
 
130,759

 
(906
)
Municipal securities
 
979

 
(1
)
 
5,046

 
(6
)
 
6,025

 
(7
)
Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
7,914

 
(6
)
 
—

 
—

 
7,914

 
(6
)
Residential mortgage-backed securities
 
11,145

 
(139
)
 
—

 
—

 
11,145

 
(139
)
Corporate debt securities
 
1,247

 
(3
)
 
9,775

 
(225
)
 
11,022

 
(228
)
Foreign bonds
 
14,338

 
(101
)
 
123,243

 
(1,758
)
 
137,581

 
(1,859
)
Asset-backed securities
 
47,275

 
(753
)
 
—

 
—

 
47,275

 
(753
)
Total available-for-sale investment securities
 
$
785,217

 
$
(2,290
)
 
$
524,008

 
$
(5,779
)
 
$
1,309,225

 
$
(8,069
)
 
 
($ in thousands)
 
December 31, 2018
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
 
$
—

 
$
—

 
$
516,520

 
$
(12,899
)
 
$
516,520

 
$
(12,899
)
U.S. government agency and U.S. government sponsored enterprise debt securities
 
22,755

 
(238
)
 
159,814

 
(2,456
)
 
182,569

 
(2,694
)
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial mortgage-backed securities
 
26,886

 
(245
)
 
274,666

 
(12,449
)
 
301,552

 
(12,694
)
Residential mortgage-backed securities
 
75,675

 
(491
)
 
653,660

 
(14,061
)
 
729,335

 
(14,552
)
Municipal securities
 
9,458

 
(104
)
 
30,295

 
(928
)
 
39,753

 
(1,032
)
Non-agency mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
 
3,067

 
(19
)
 
3,949

 
(166
)
 
7,016

 
(185
)
Corporate debt securities
 
10,869

 
(381
)
 
—

 
—

 
10,869

 
(381
)
Foreign bonds
 
14,418

 
(40
)
 
448,630

 
(26,290
)
 
463,048

 
(26,330
)
Total available-for-sale investment securities
 
$
163,128

 
$
(1,518
)
 
$
2,087,534

 
$
(69,249
)
 
$
2,250,662

 
$
(70,767
)
 
Schedule of the proceeds, gross realized gains, and tax expense related to the sales of available-for-sale investment securities
The following table presents the proceeds, gross realized gains and tax expense related to the sales of available-for-sale investment securities for the three and nine months ended September 30, 2019 and 2018:
 
($ in thousands)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Proceeds from sales
 
$
101,129

 
$
39,377

 
$
476,231

 
$
296,252

Gross realized gains
 
$
58

 
$
35

 
$
3,066

 
$
2,374

Related tax expense
 
$
17

 
$
11

 
$
906

 
$
701

 
Schedule of contractual maturities of available-for-sale investment securities
The following table presents the contractual maturities of available-for-sale investment securities as of September 30, 2019:
 
($ in thousands)
 
Amortized Cost
 
Fair Value
Due within one year
 
$
1,100,414

 
$
1,099,412

Due after one year through five years
 
430,577

 
429,725

Due after five years through ten years
 
185,633

 
189,981

Due after ten years
 
1,543,160

 
1,564,916

Total available-for-sale investment securities
 
$
3,259,784

 
$
3,284,034

 
Schedule of restricted equity securities The following table presents the restricted equity securities as of September 30, 2019 and December 31, 2018:
 
($ in thousands)
 
September 30, 2019
 
December 31, 2018
FRB stock
 
$
58,084

 
$
56,819

FHLB stock
 
20,250

 
17,250

Total restricted equity securities
 
$
78,334

 
$
74,069