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SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and estimated fair value of investment and mortgage-backed securities
The amortized cost, gross unrealized gains and losses and estimated fair value of investment and mortgage-backed AFS and HTM securities as of December 31, 2020 and 2019 are reflected in the tables below (in thousands):
 December 31, 2020
AmortizedGross
Unrealized		Gross UnrealizedEstimated
CostGainsLossesFair Value
AVAILABLE FOR SALE
Investment securities:
State and political subdivisions$1,475,030 $105,601 $37 $1,580,594 
Other stocks and bonds 77,224 1,053 22 78,255 
MBS: (1)
   
Residential771,409 38,674 73 810,010 
Commercial113,850 4,746 150 118,446 
Total$2,437,513 $150,074 $282 $2,587,305 
HELD TO MATURITY
Investment securities:   
State and political subdivisions$907 $13 $— $920 
MBS: (1)
Residential47,948 4,187 — 52,135 
Commercial60,143 5,000 — 65,143 
Total $108,998 $9,200 $— $118,198 
 December 31, 2019
AmortizedGross
Unrealized		Gross UnrealizedEstimated
CostGainsLossesFair Value
AVAILABLE FOR SALE
Investment securities: 
State and political subdivisions$780,376 $23,832 $1,406 $802,802 
Other stocks and bonds 10,000 137 — 10,137 
MBS: (1)
 
Residential
1,286,110 25,662 1,130 1,310,642 
Commercial
230,255 4,795 34 235,016 
Total$2,306,741 $54,426 $2,570 $2,358,597 
HELD TO MATURITY
Investment securities:
State and political subdivisions$2,888 $30 $— $2,918 
MBS: (1)
 
Residential59,701 2,586 139 62,148 
Commercial72,274 1,622 83 $73,813 
Total$134,863 $4,238 $222 $138,879 
(1)    All MBS issued and/or guaranteed by U.S. government agencies or U.S. GSEs.
Unrealized loss on securities
The following tables represent the fair value and unrealized losses on AFS investment and MBS for which an allowance for credit losses has not been recorded as of December 31, 2020 and AFS and HTM investment and MBS as of December 31, 2019, segregated by major security type and length of time in a continuous loss position (in thousands):
December 31, 2020
 Less Than 12 MonthsMore Than 12 MonthsTotal
Fair ValueUnrealized
Loss		Fair ValueUnrealized
Loss		Fair ValueUnrealized
Loss
AVAILABLE FOR SALE      
Investment securities:
State and political subdivisions$17,305 $37 $— $— $17,305 $37 
Other stocks and bonds11,562 22 — — 11,562 22 
MBS:
Residential6,287 73 — — 6,287 73 
Commercial4,744 150 — — 4,744 150 
Total$39,898 $282 $— $— $39,898 $282 
December 31, 2019
Less Than 12 Months
More Than 12 Months
Total
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
AVAILABLE FOR SALE      
Investment securities:
State and political subdivisions$158,629 $1,270 $7,555 $136 $166,184 $1,406 
MBS:
Residential101,779 980 21,696 150 123,475 1,130 
Commercial13,555 32 1,446 2 15,001 34 
Total$273,963 $2,282 $30,697 $288 $304,660 $2,570 
HELD TO MATURITY      
MBS:
Residential$272 $9 $2,304 $130 $2,576 $139 
Commercial12,781 67 1,788 16 14,569 83 
Total $13,053 $76 $4,092 $146 $17,145 $222 
Interest income recognized on securities
The following table reflects interest income recognized on securities for the periods presented (in thousands):
 Years Ended December 31,
 202020192018
U.S. Treasury$— $— $218 
U.S. government agency debentures— — 89 
State and political subdivisions36,393 16,885 24,960 
Other stocks and bonds1,195 138 110 
MBS34,319 50,486 41,584 
Total interest income on securities$71,907 $67,509 $66,961 
Amortized cost and fair value of securities presented by contractual maturity
The amortized cost and estimated fair value of AFS and HTM securities at December 31, 2020, are presented below by contractual maturity (in thousands).
 December 31, 2020
 Amortized CostFair Value
AVAILABLE FOR SALE
Investment securities:  
Due in one year or less$2,185 $2,223 
Due after one year through five years32,972 33,953 
Due after five years through ten years90,751 93,430 
Due after ten years1,426,346 1,529,243 
 1,552,254 1,658,849 
MBS:885,259 928,456 
Total$2,437,513 $2,587,305 
 December 31, 2020
 Amortized Cost
Fair Value
HELD TO MATURITY
Investment securities:  
Due in one year or less$120 $121 
Due after one year through five years509 516 
Due after five years through ten years278 283 
Due after ten years— — 
 907 920 
MBS:108,091 117,278 
Total$108,998 $118,198 
Unrealized and realized gains (losses) recognized in net income on equity investments
The following is a summary of unrealized and realized gains and losses on equity investments recognized in other noninterest income in the consolidated statements of income during the periods presented (in thousands):
 Years Ended December 31,
 20202019
Net (loss) gain recognized during the period on equity investments$(427)$66 
Less: Net (loss) gain recognized during the period on equity investments sold during the period— — 
Unrealized (loss) gain recognized during the reporting period on equity investments still held at the reporting date$(427)$66