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Securities (Tables)
9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities Available-for-Sale
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of September 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$13,999 $128 $— $14,127 $33,939 $137 $(1)$34,075 
U.S. agency securities658,607 4,731 (4,047)659,291 249,502 758 (1,836)248,424 
Collateralized mortgage obligations
("CMOs")
1,532,516 34,132 (1,665)1,564,983 1,547,805 14,893 (5,027)1,557,671 
Other mortgage-backed securities
("MBSs")
624,725 16,068 (592)640,201 678,804 7,728 (1,848)684,684 
Municipal securities226,149 10,694 (43)236,800 228,632 5,898 (99)234,431 
Corporate debt securities 160,621 4,391 (530)164,482 112,797 1,791 (487)114,101 
Total securities available-for-sale$3,216,617 $70,144 $(6,877)$3,279,884 $2,851,479 $31,205 $(9,298)$2,873,386 
Securities Held-to-Maturity       
Municipal securities$22,413 $139 $— $22,552 $21,997 $— $(763)$21,234 
Allowance for securities held-to-
  maturity(1)
(220)$(220)
Total securities held-to-maturity,
net
$22,193 $139 $— $22,332 
Equity Securities$55,021 $42,136 
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Securities Held-to-Maturity
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of September 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$13,999 $128 $— $14,127 $33,939 $137 $(1)$34,075 
U.S. agency securities658,607 4,731 (4,047)659,291 249,502 758 (1,836)248,424 
Collateralized mortgage obligations
("CMOs")
1,532,516 34,132 (1,665)1,564,983 1,547,805 14,893 (5,027)1,557,671 
Other mortgage-backed securities
("MBSs")
624,725 16,068 (592)640,201 678,804 7,728 (1,848)684,684 
Municipal securities226,149 10,694 (43)236,800 228,632 5,898 (99)234,431 
Corporate debt securities 160,621 4,391 (530)164,482 112,797 1,791 (487)114,101 
Total securities available-for-sale$3,216,617 $70,144 $(6,877)$3,279,884 $2,851,479 $31,205 $(9,298)$2,873,386 
Securities Held-to-Maturity       
Municipal securities$22,413 $139 $— $22,552 $21,997 $— $(763)$21,234 
Allowance for securities held-to-
  maturity(1)
(220)$(220)
Total securities held-to-maturity,
net
$22,193 $139 $— $22,332 
Equity Securities$55,021 $42,136 
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Equity Securities
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of September 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$13,999 $128 $— $14,127 $33,939 $137 $(1)$34,075 
U.S. agency securities658,607 4,731 (4,047)659,291 249,502 758 (1,836)248,424 
Collateralized mortgage obligations
("CMOs")
1,532,516 34,132 (1,665)1,564,983 1,547,805 14,893 (5,027)1,557,671 
Other mortgage-backed securities
("MBSs")
624,725 16,068 (592)640,201 678,804 7,728 (1,848)684,684 
Municipal securities226,149 10,694 (43)236,800 228,632 5,898 (99)234,431 
Corporate debt securities 160,621 4,391 (530)164,482 112,797 1,791 (487)114,101 
Total securities available-for-sale$3,216,617 $70,144 $(6,877)$3,279,884 $2,851,479 $31,205 $(9,298)$2,873,386 
Securities Held-to-Maturity       
Municipal securities$22,413 $139 $— $22,552 $21,997 $— $(763)$21,234 
Allowance for securities held-to-
  maturity(1)
(220)$(220)
Total securities held-to-maturity,
net
$22,193 $139 $— $22,332 
Equity Securities$55,021 $42,136 
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 As of September 30, 2020
 Available-for-SaleHeld-to-Maturity
 Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
One year or less$279,309 $283,349 $1,094 $1,101 
After one year to five years206,291 209,275 15,438 15,535 
After five years to ten years561,776 569,902 2,870 2,888 
After ten years12,000 12,174 2,791 2,808 
Securities that do not have a single contractual maturity date2,157,241 2,205,184 — — 
Total$3,216,617 $3,279,884 $22,193 $22,332 
Securities in an Unrealized Loss Position
The following table presents the aggregate amount of unrealized losses and the aggregate related fair values of securities with unrealized losses as of September 30, 2020 and December 31, 2019.
Securities in an Unrealized Loss Position
(Dollar amounts in thousands)
  Less Than 12 Months12 Months or LongerTotal
 Number of
Securities
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
As of September 30, 2020      
Securities Available-for-Sale
U.S. agency securities44 $235,984 $3,816 $14,772 $231 $250,756 $4,047 
CMOs52 155,637 1,111 42,137 554 197,774 1,665 
MBSs19 92,959 581 3,395 11 96,354 592 
Municipal securities13 5,965 43 — — 5,965 43 
Corporate debt securities4,996 12,349 526 17,345 530 
Total131 $495,541 $5,555 $72,653 $1,322 $568,194 $6,877 
As of December 31, 2019       
Securities Available-for-Sale
U.S. treasury securities$4,966 $$— $— $4,966 $
U.S. agency securities52 97,729 1,200 49,387 636 147,116 1,836 
CMOs148 187,470 2,177 412,083 2,850 599,553 5,027 
MBSs59 66,340 996 121,861 852 188,201 1,848 
Municipal securities16 9,384 89 3,104 10 12,488 99 
Corporate debt securities9,719 281 21,955 206 31,674 487 
Total286 $375,608 $4,744 $608,390 $4,554 $983,998 $9,298