XML 40 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Securities (Tables)
6 Months Ended
Jun. 30, 2020
Securities  
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity

The table below provides the amortized cost, unrealized gains and losses and fair values of debt securities summarized by major category (dollars in thousands):

    

    

    

Gross

    

Gross

Allowance

    

    

Amortized

Unrealized

Unrealized

for Credit

Fair

June 30, 2020:

    

Cost

    

Gains

    

Losses

Losses

Value

Debt securities available for sale

U.S. Treasury securities

$

32,597

$

639

$

$

$

33,236

Obligations of U.S. government corporations and

agencies

 

77,349

 

2,752

 

(57)

 

80,044

Obligations of states and political subdivisions

 

272,885

 

10,047

 

(38)

 

282,894

Commercial mortgage-backed securities

230,352

10,956

(3)

241,305

Residential mortgage-backed securities

 

940,842

 

29,475

 

(124)

 

970,193

Corporate debt securities

 

87,404

 

1,826

 

(36)

 

89,194

Total

$

1,641,429

$

55,695

$

(258)

$

$

1,696,866

    

    

    

Gross

    

Gross

    

    

Amortized

Unrealized

Unrealized

Fair

December 31, 2019:

    

Cost

    

Gains

    

Losses

    

Value

Debt securities available for sale

U.S. Treasury securities

$

51,472

$

265

$

$

51,737

Obligations of U.S. government corporations and

agencies

 

160,364

 

2,684

 

(48)

 

163,000

Obligations of states and political subdivisions

 

262,492

 

5,810

 

(11)

 

268,291

Commercial mortgage-backed securities

137,733

1,700

(146)

139,287

Residential mortgage-backed securities

 

912,308

 

10,282

 

(624)

 

921,966

Corporate debt securities

 

102,696

 

1,280

 

 

103,976

Total

$

1,627,065

$

22,021

$

(829)

$

1,648,257

Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity

The amortized cost and fair value of debt securities, by contractual maturity or pre-refunded date, are shown below. Mortgages underlying mortgage-backed securities may be called or prepaid; therefore, actual maturities could differ from the contractual maturities. All mortgage-backed securities were issued by U.S. government agencies and corporations (dollars in thousands).

Debt securities available for sale

    

Amortized

    

Fair

June 30, 2020:

    

Cost

    

Value

Due in one year or less

$

132,192

$

133,749

Due after one year through five years

 

241,337

 

250,413

Due after five years through ten years

 

241,496

 

252,566

Due after ten years

 

1,026,404

 

1,060,138

Total

$

1,641,429

$

1,696,866

Schedule of realized gains and losses related to sales of securities

Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands):

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2020

    

2019

2020

    

2019

Gross security gains

$

146

$

391

$

1,707

$

391

Gross security (losses)

(3)

 

(400)

(8)

 

(583)

Net gains (losses) on sales of securities(1)

$

143

$

(9)

$

1,699

$

(192)

(1)Net (losses) gains on sales of securities reported on the unaudited Consolidated Statements of Income includes sale of equity securities, excluded in this table.
Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position

The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands):

Less than 12 months, gross

12 months or more, gross

Total, gross

Fair

    

Unrealized

    

Fair

    

Unrealized

    

Fair

    

Unrealized

June 30, 2020:

Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

Debt securities available for sale

U.S. Treasury securities

$

$

$

$

$

$

Obligations of U.S. government corporations and

agencies

5,648

(57)

5,648

(57)

Obligations of states and political subdivisions

6,432

(38)

6,432

(38)

Commercial mortgage-backed securities

4,963

(3)

4,963

(3)

Residential mortgage-backed securities

 

35,830

 

(120)

 

937

 

(4)

 

36,767

 

(124)

Corporate debt securities

 

4,222

 

(36)

 

 

 

4,222

 

(36)

Total temporarily impaired securities

$

57,095

$

(254)

$

937

$

(4)

$

58,032

$

(258)

Less than 12 months, gross

12 months or more, gross

Total, gross

Fair

    

Unrealized

    

Fair

    

Unrealized

    

Fair

    

Unrealized

December 31, 2019:

Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

Debt securities available for sale

U.S. Treasury securities

$

$

$

$

$

$

Obligations of U.S. government corporations and

agencies

6,362

(48)

6,362

(48)

Obligations of states and political subdivisions(1)

4,981

(11)

1,548

6,529

(11)

Commercial mortgage-backed securities

33,322

(144)

2,044

(2)

35,366

(146)

Residential mortgage-backed securities

 

78,326

 

(245)

 

50,259

 

(379)

 

128,585

 

(624)

Corporate debt securities

 

 

 

 

 

 

Total temporarily impaired securities

$

122,991

$

(448)

$

53,851

$

(381)

$

176,842

$

(829)

(1)Unrealized losses for 12 months or more, gross, was less than one thousand dollars.