XML 50 R29.htm IDEA: XBRL DOCUMENT v3.19.3
Securities (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities A summary of the amortized cost and estimated fair value of securities, excluding trading securities, is presented below.
 
September 30, 2019
 
December 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
2,472

 
$
25

 
$
2

 
$
2,495

 
$
2,737

 
$
8

 
$
85

 
$
2,660

States and political subdivisions
1,016,866

 
26,563

 
—

 
1,043,429

 
1,101,820

 
11,525

 
552

 
1,112,793

Other
1,500

 
—

 
1

 
1,499

 
1,500

 
—

 
—

 
1,500

Total
$
1,020,838

 
$
26,588

 
$
3

 
$
1,047,423

 
$
1,106,057

 
$
11,533

 
$
637

 
$
1,116,953

Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
2,806,802

 
$
20,725

 
$
1,731

 
$
2,825,796

 
$
3,455,417

 
$
1,772

 
$
29,500

 
$
3,427,689

Residential mortgage-backed securities
2,198,466

 
42,766

 
780

 
2,240,452

 
823,208

 
13,079

 
6,547

 
829,740

States and political subdivisions
6,931,673

 
380,113

 
413

 
7,311,373

 
7,089,132

 
70,760

 
72,690

 
7,087,202

Other
42,825

 
—

 
—

 
42,825

 
42,690

 
—

 
—

 
42,690

Total
$
11,979,766

 
$
443,604

 
$
2,924

 
$
12,420,446

 
$
11,410,447

 
$
85,611

 
$
108,737

 
$
11,387,321
Securities, with Unrealized Losses Segregated by Length of Impairment As of September 30, 2019, securities with unrealized losses, segregated by length of impairment, were as follows:
 
Less than 12 Months
 
More than 12 Months
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
—

 
$
—

 
$
413

 
$
2

 
$
413

 
$
2

Other
1,499

 
1

 
—

 
—

 
1,499

 
1

Total
$
1,499

 
$
1

 
$
413

 
$
2

 
$
1,912

 
$
3

Available for Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
—

 
$
—

 
$
1,722,158

 
$
1,731

 
$
1,722,158

 
$
1,731

Residential mortgage-backed securities
49,657

 
290

 
44,458

 
490

 
94,115

 
780

States and political subdivisions
41,619

 
413

 
—

 
—

 
41,619

 
413

Total
$
91,276

 
$
703

 
$
1,766,616

 
$
2,221

 
$
1,857,892

 
$
2,924
Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities, Presented by Contractual Maturity The amortized cost and estimated fair value of securities, excluding trading securities, at September 30, 2019 are presented below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Residential mortgage-backed securities and equity securities are shown separately since they are not due at a single maturity date.
 
Held to Maturity
 
Available for Sale
 
Amortized
Cost
 
Estimated
Fair Value
 
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
25,254

 
$
25,418

 
$
1,882,023

 
$
1,881,435

Due after one year through five years
166,412

 
170,675

 
1,328,841

 
1,356,833

Due after five years through ten years
530,808

 
543,464

 
453,192

 
480,892

Due after ten years
295,892

 
305,371

 
6,074,419

 
6,418,009

Residential mortgage-backed securities
2,472

 
2,495

 
2,198,466

 
2,240,452

Equity securities
—

 
—

 
42,825

 
42,825

Total
$
1,020,838

 
$
1,047,423

 
$
11,979,766

 
$
12,420,446
Sales of Securities Available for Sale Sales of securities available for sale were as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2019
 
2018
 
2019
 
2018
Proceeds from sales
$
4,944,537

 
$
2,948,178

 
$
8,236,066

 
$
13,838,566

Gross realized gains
96

 
—

 
899

 
3

Gross realized losses
—

 
(34
)
 
(634
)
 
(116
)
Tax (expense) benefit of securities gains/losses
(21
)
 
7

 
(56
)
 
24
Premium Amortization and Discount Accretion Included in Income on Securities [Table Text Block] Premium amortization and discount accretion included in interest income on securities was as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2019
 
2018
 
2019
 
2018
Premium amortization
$
(29,511
)
 
$
(27,381
)
 
$
(88,798
)
 
$
(80,104
)
Discount accretion
1,274

 
2,569

 
3,835

 
6,356

Net (premium amortization) discount accretion
$
(28,237
)
 
$
(24,812
)
 
$
(84,963
)
 
$
(73,748
)
Trading Account Securities, at Estimated Fair Value Trading account securities, at estimated fair value, were as follows:
 
September 30,
2019
 
December 31,
2018
U.S. Treasury
$
23,747

 
$
21,928

States and political subdivisions
3,922

 
2,158

Total
$
27,669

 
$
24,086
Net Gains and Losses on Trading Account Securities
Net gains and losses on trading account securities were as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2019
 
2018
 
2019
 
2018
Net gain on sales transactions
$
731

 
$
465

 
$
1,789

 
$
1,404

Net mark-to-market gains (losses)
(201
)
 
(8
)
 
(170
)
 
(21
)
Net gain (loss) on trading account securities
$
530

 
$
457

 
$
1,619

 
$
1,383