XML 34 R24.htm IDEA: XBRL DOCUMENT v3.21.2
Securities (Tables)
 6 Months Ended
Jun. 30, 2021
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 June 30, 2021 and December 31, 2020 are reflected in the tables below (in thousands):
 June 30, 2021
Amortized
Gross
Unrealized
Gross UnrealizedEstimated
AVAILABLE FOR SALECostGainsLossesFair Value
Investment securities:
U.S. Treasury$42,753 $983 $— $43,736 
State and political subdivisions1,765,231 101,074 1,426 1,864,879 
Corporate bonds and other 112,387 2,191 331 114,247 
MBS: (1)
   
Residential606,765 26,387 252 632,900 
Commercial106,938 3,585 250 110,273 
Total$2,634,074 $134,220 $2,259 $2,766,035 
HELD TO MATURITY
Investment securities:   
State and political subdivisions$908 $5 $— $913 
MBS: (1)
Residential42,171 3,002 — 45,173 
Commercial51,771 3,511 — 55,282 
Total $94,850 $6,518 $— $101,368 

 December 31, 2020
Amortized
Gross
Unrealized
Gross UnrealizedEstimated
AVAILABLE FOR SALECostGainsLossesFair Value
Investment securities: 
State and political subdivisions$1,475,030 $105,601 $37 $1,580,594 
Corporate bonds and other 77,224 1,053 22 78,255 
MBS: (1)
 
Residential
771,409 38,674 73 810,010 
Commercial
113,850 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 
(1) All MBS are 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 June 30, 2021 and December 31, 2020, segregated by major security type and length of time in a continuous loss position (in thousands):
June 30, 2021
 Less Than 12 MonthsMore Than 12 MonthsTotal
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
AVAILABLE FOR SALE      
Investment securities:
State and political subdivisions$154,122 $1,426 $— $— $154,122 $1,426 
Corporate bonds and other37,452 331 — — 37,452 331 
MBS:
Residential15,619 252 — — 15,619 252 
Commercial— — 4,637 250 4,637 250 
Total$207,193 $2,009 $4,637 $250 $211,830 $2,259 
December 31, 2020
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$17,305 $37 $— $— $17,305 $37 
Corporate bonds and other11,562 22 — — 11,562 22 
MBS:
Residential6,287 73 — — 6,287 73 
Commercial4,744 150 — — 4,744 150 
Total$39,898 $282 $— $— $39,898 $282 
Interest income recognized on securities
The following table reflects interest income recognized on securities for the periods presented (in thousands):
 Three Months Ended
June 30,
 20212020
U.S. Treasury$169 $— 
State and political subdivisions10,939 9,869 
Corporate bonds and other986 84 
MBS4,647 9,044 
Total interest income on securities$16,741 $18,997 
 Six Months Ended
June 30,
 20212020
U.S. Treasury$206 $— 
State and political subdivisions21,345 16,494 
Corporate bonds and other1,831 177 
MBS10,735 20,578 
Total interest income on securities$34,117 $37,249 
Amortized cost, carrying value and fair value of securities presented by contractual maturity
The amortized cost and estimated fair value of AFS and HTM securities at June 30, 2021, are presented below by contractual maturity (in thousands):
 June 30, 2021
 Amortized CostFair Value
AVAILABLE FOR SALE
Investment securities:  
Due in one year or less$4,026 $4,071 
Due after one year through five years30,715 31,829 
Due after five years through ten years163,900 167,864 
Due after ten years1,721,730 1,819,098 
 1,920,371 2,022,862 
MBS:713,703 743,173 
Total$2,634,074 $2,766,035 

 June 30, 2021
 Amortized Cost
Fair Value
HELD TO MATURITY
Investment securities:  
Due in one year or less$120 $120 
Due after one year through five years509 512 
Due after five years through ten years279 281 
Due after ten years— — 
 908 913 
MBS:93,942 100,455 
Total$94,850 $101,368 
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):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202020212020
Net gains (losses) recognized during the period on equity investments$17 $1 $(90)$54 
Less: Net gains recognized during the period on equity investments sold during the period— — — — 
Unrealized gains (losses) recognized during the reporting period on equity investments held at the reporting date$17 $1 $(90)$54