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Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Held-to-maturity [Table Text Block] A summary of the amortized cost, fair value and allowance for credit losses related to securities held to maturity as of March 31, 2020 and December 31, 2019 is presented below.
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Allowance
for Credit
Losses
 
Net
Carrying
Amount
March 31, 2020
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
530,396

 
$
37,234

 
$
—

 
$
567,630

 
$
—

 
$
530,396

States and political subdivisions
1,452,453

 
36,296

 
—

 
1,488,749

 
(200
)
 
1,452,253

Other
1,500

 
—

 
—

 
1,500

 
—

 
1,500

Total
$
1,984,349

 
$
73,530

 
$
—

 
$
2,057,879

 
$
(200
)
 
$
1,984,149

December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
530,861

 
$
22

 
$
9,365

 
$
521,518

 
$
—

 
$
530,861

States and political subdivisions
1,497,644

 
28,909

 
896

 
1,525,657

 
—

 
1,497,644

Other
1,500

 
—

 
—

 
1,500

 
—

 
1,500

Total
$
2,030,005

 
$
28,931

 
$
10,261

 
$
2,048,675

 
$
—

 
$
2,030,005
Moody's and Standard & Poor's Bond Ratings [Table Text Block]
The following table summarizes Moody's and/or Standard & Poor's bond ratings for our portfolio of held-to-maturity securities issued by States and political subdivisions and other securities as of March 31, 2020:
 
States and Political Subdivisions
 
 
 
Not Guaranteed or Pre-Refunded
 
Guaranteed by the Texas PSF
 
Pre-Refunded
 
Total
 
Other
Securities
Aaa/AAA
$
131,760

 
$
849,396

 
$
284,678

 
$
1,265,834

 
$
—

Aa/AA
118,271

 
—

 
—

 
118,271

 
—

A
68,348

 
—

 
—

 
68,348

 
—

Not rated
—

 
—

 
—

 
—

 
1,500

Total
$
318,379

 
$
849,396

 
$
284,678

 
$
1,452,453

 
$
1,500
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block]
The following table details activity in the allowance for credit losses on held-to-maturity securities during the three months ended March 31, 2020.
Beginning balance, prior to adoption of ASC 326
$
—

Impact of adopting ASC 326
215

Credit loss expense (benefit)
(15
)
Ending balance
$
200
Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of Securities Available for Sale A summary of the amortized cost, fair value and allowance for credit losses related to securities available for sale as of March 31, 2020 and December 31, 2019 is presented below.
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Allowance
for Credit
Losses
 
Estimated
Fair Value
March 31, 2020
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
1,117,523

 
$
49,741

 
$
—

 
$
—

 
$
1,167,264

Residential mortgage-backed securities
2,009,523

 
80,423

 
—

 
—

 
2,089,946

States and political subdivisions
6,785,079

 
382,976

 
189

 
—

 
7,167,866

Other
42,901

 
—

 
—

 
—

 
42,901

Total
$
9,955,026

 
$
513,140

 
$
189

 
$
—

 
$
10,467,977

 
 
 
 
 
 
 
 
 
 
December 31, 2019
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
1,941,283

 
$
18,934

 
$
12,084

 
$
—

 
$
1,948,133

Residential mortgage-backed securities
2,176,275

 
32,608

 
1,289

 
—

 
2,207,594

States and political subdivisions
6,717,344

 
353,857

 
204

 
—

 
7,070,997

Other
42,867

 
—

 
—

 
—

 
42,867

Total
$
10,877,769

 
$
405,399

 
$
13,577

 
$
—

 
$
11,269,591
Securities, with Unrealized Losses Segregated by Length of Impairment
The table below summarizes, as of March 31, 2020, securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by type of security and length of time in a continuous unrealized loss position.
 
Less than 12 Months
 
More than 12 Months
 
Total
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
 
Estimated
Fair Value
 
Unrealized
Losses
States and political subdivisions
$
67,949

 
$
189

 
$
—

 
$
—

 
$
67,949

 
$
189

Total
$
67,949

 
$
189

 
$
—

 
$
—

 
$
67,949

 
$
189
Amortized Cost and Estimated Fair Value of Securities, Excluding Trading Securities, Presented by Contractual Maturity The following table summarizes the maturity distribution schedule of securities held to maturity and securities available for sale as of March 31, 2020. Mortgage-backed securities are included in maturity categories based on their stated maturity date. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities classified as available for sale include stock in the Federal Reserve Bank and the Federal Home Loan Bank, which have no maturity date. These securities have been included in the total column only.
 
Within 1 Year
 
1 - 5 Years
 
5 - 10 Years
 
After 10 Years
 
Total
Held To Maturity
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
—

 
$
332

 
$
516,866

 
$
13,198

 
$
530,396

States and political subdivisions
25,324

 
170,386

 
496,235

 
760,508

 
1,452,453

Other
—

 
1,500

 
—

 
—

 
1,500

Total
$
25,324

 
$
172,218

 
$
1,013,101

 
$
773,706

 
$
1,984,349

Estimated Fair Value
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
$
—

 
$
335

 
$
553,409

 
$
13,886

 
$
567,630

States and political subdivisions
25,579

 
174,896

 
507,221

 
781,053

 
1,488,749

Other
—

 
1,500

 
—

 
—

 
1,500

Total
$
25,579

 
$
176,731

 
$
1,060,630

 
$
794,939

 
$
2,057,879

Available For Sale
 
 
 
 
 
 
 
 
 
Amortized Cost
 
 
 
 
 
 
 
 
 
U. S. Treasury
$
33,964

 
$
1,083,559

 
$
—

 
$
—

 
$
1,117,523

Residential mortgage-backed securities
236

 
68,185

 
5,859

 
1,935,243

 
2,009,523

States and political subdivisions
250,489

 
220,504

 
648,416

 
5,665,670

 
6,785,079

Other
—

 
—

 
—

 
—

 
42,901

Total
$
284,689

 
$
1,372,248

 
$
654,275

 
$
7,600,913

 
$
9,955,026

Estimated Fair Value
 
 
 
 
 
 
 
 
 
U. S. Treasury
$
34,181

 
$
1,133,083

 
$
—

 
$
—

 
$
1,167,264

Residential mortgage-backed securities
249

 
70,834

 
6,379

 
2,012,484

 
2,089,946

States and political subdivisions
252,108

 
231,285

 
686,745

 
5,997,728

 
7,167,866

Other
—

 
—

 
—

 
—

 
42,901

Total
$
286,538

 
$
1,435,202

 
$
693,124

 
$
8,010,212

 
$
10,467,977
Sales of Securities Available for Sale Sales of securities available for sale were as follows:
 
Three Months Ended 
 March 31,
 
2020
 
2019
Proceeds from sales
$
1,111,102

 
$
944,903

Gross realized gains
108,989

 
—

Gross realized losses
—

 
—

Tax (expense) benefit of securities gains/losses
22,888

 
—
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 
 March 31,
 
2020
 
2019
Premium amortization
$
(32,345
)
 
$
(29,879
)
Discount accretion
585

 
1,183

Net (premium amortization) discount accretion
$
(31,760
)
 
$
(28,696
)
Trading Account Securities, at Estimated Fair Value Trading account securities, at estimated fair value, were as follows:
 
March 31,
2020
 
December 31,
2019
U.S. Treasury
$
24,491

 
$
24,298

States and political subdivisions
1,430

 
—

Total
$
25,921

 
$
24,298
Net Gains and Losses on Trading Account Securities
Net gains and losses on trading account securities were as follows:
 
Three Months Ended 
 March 31,
 
2020
 
2019
Net gain on sales transactions
$
470

 
$
506

Net mark-to-market gains (losses)
115

 
4

Net gain (loss) on trading account securities
$
585

 
$
510