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INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Held-To-Maturity and Available-For-Sale Investment Securities
The following is a summary of HTM and AFS investment securities as of March 31, 2020:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrecognized gain
 
Unrecognized loss
 
Fair
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Fair
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
99

 
$
5

 
$
0

 
$
104

Securities of U.S. government agencies and corporations
 
0

 
0

 
0

 
0

 
116

 
2

 
0

 
118

Mortgage-backed securities - residential
 
19,832

 
1,046

 
0

 
20,878

 
419,423

 
19,215

 
(219
)
 
438,419

Mortgage-backed securities - commercial
 
97,073

 
1,671

 
(375
)
 
98,369

 
506,343

 
7,034

 
(9,082
)
 
504,295

Collateralized mortgage obligations
 
9,043

 
149

 
0

 
9,192

 
745,649

 
28,845

 
(2,479
)
 
772,015

Obligations of state and other political subdivisions
 
10,796

 
830

 
0

 
11,626

 
723,470

 
30,576

 
(152
)
 
753,894

Asset-backed securities
 
0

 
0

 
0

 
0

 
382,415

 
225

 
(18,841
)
 
363,799

Other securities
 
0

 
0

 
0

 
0

 
79,840

 
90

 
(3,886
)
 
76,044

Total
 
$
136,744

 
$
3,696

 
$
(375
)
 
$
140,065

 
$
2,857,355

 
$
85,992

 
$
(34,659
)
 
$
2,908,688


The following is a summary of HTM and AFS investment securities as of December 31, 2019:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrecognized gain
 
Unrecognized
loss
 
Fair
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Fair
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
99

 
$
1

 
$
0

 
$
100

Securities of U.S. government agencies and corporations
 
0

 
0

 
0

 
0

 
156

 
2

 
0

 
158

Mortgage-backed securities - residential
 
20,818

 
122

 
(174
)
 
20,766

 
421,945

 
9,709

 
(99
)
 
431,555

Mortgage-backed securities - commercial
 
101,267

 
571

 
(1,225
)
 
100,613

 
474,174

 
4,988

 
(2,644
)
 
476,518

Collateralized mortgage obligations
 
9,763

 
0

 
(108
)
 
9,655

 
769,076

 
16,753

 
(385
)
 
785,444

Obligations of state and other political subdivisions
 
11,014

 
804

 
(31
)
 
11,787

 
652,986

 
23,729

 
(462
)
 
676,253

Asset-backed securities
 
0

 
0

 
0

 
0

 
400,081

 
1,414

 
(1,064
)
 
400,431

Other securities
 
0

 
0

 
0

 
0

 
79,781

 
1,959

 
(115
)
 
81,625

Total
 
$
142,862

 
$
1,497

 
$
(1,538
)
 
$
142,821

 
$
2,798,298

 
$
58,555

 
$
(4,769
)
 
$
2,852,084
Summary of Investment Securities by Estimated Maturity
The following table provides a summary of investment securities by contractual maturity as of March 31, 2020, except for residential and commercial mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, which are shown as single totals due to the unpredictability of the timing in principal repayments.
 
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Fair
value
 
Amortized
cost
 
Fair
value
By Contractual Maturity:
 
 
 
 
 
 
 
 
Due in one year or less
 
$
0

 
$
0

 
$
5,138

 
$
5,157

Due after one year through five years
 
0

 
0

 
55,648

 
56,434

Due after five years through ten years
 
4,797

 
5,476

 
148,614

 
147,686

Due after ten years
 
5,999

 
6,150

 
594,125

 
620,883

Mortgage-backed securities - residential
 
19,832

 
20,878

 
419,423

 
438,419

Mortgage-backed securities - commercial
 
97,073

 
98,369

 
506,343

 
504,295

Collateralized mortgage obligations
 
9,043

 
9,192

 
745,649

 
772,015

Asset-backed securities
 
0

 
0

 
382,415

 
363,799

Total
 
$
136,744

 
$
140,065

 
$
2,857,355

 
$
2,908,688
Age of Gross Unrealized Losses and Associated Fair Value by Investment Category
The following tables provide the fair value and gross unrealized losses on investment securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:
 
 
March 31, 2020
 
 
Less than 12 months
 
12 months or more
 
Total
(Dollars in thousands)
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
0

 
$
0

Securities of U.S. Government agencies and corporations
 
0

 
0

 
0

 
0

 
0

 
0

Mortgage-backed securities - residential
 
37,185

 
(219
)
 
0

 
0

 
37,185

 
(219
)
Mortgage-backed securities - commercial
 
188,990

 
(4,567
)
 
62,083

 
(4,890
)
 
251,073

 
(9,457
)
Collateralized mortgage obligations
 
115,697

 
(1,847
)
 
8,267

 
(632
)
 
123,964

 
(2,479
)
Obligations of state and other political subdivisions
 
33,083

 
(148
)
 
1,681

 
(4
)
 
34,764

 
(152
)
Asset-backed securities
 
279,980

 
(16,048
)
 
59,852

 
(2,793
)
 
339,832

 
(18,841
)
Other securities
 
46,746

 
(3,081
)
 
4,010

 
(805
)
 
50,756

 
(3,886
)
Total
 
$
701,681

 
$
(25,910
)
 
$
135,893

 
$
(9,124
)
 
$
837,574

 
$
(35,034
)

 
 
December 31, 2019
 
 
Less than 12 months
 
12 months or more
 
Total
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(Dollars in thousands)
 
value
 
loss
 
value
 
loss
 
value
 
loss
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
0

 
$
0

Securities of U.S. Government agencies and corporations
 
0

 
0

 
0

 
0

 
0

 
0

Mortgage-backed securities - residential
 
40,190

 
(209
)
 
11,063

 
(64
)
 
51,253

 
(273
)
Mortgage-backed securities - commercial
 
111,658

 
(298
)
 
104,069

 
(3,571
)
 
215,727

 
(3,869
)
Collateralized mortgage obligations
 
85,248

 
(297
)
 
30,628

 
(196
)
 
115,876

 
(493
)
Obligations of state and other political subdivisions
 
118,623

 
(457
)
 
7,950

 
(36
)
 
126,573

 
(493
)
Asset-backed securities
 
125,889

 
(553
)
 
54,963

 
(511
)
 
180,852

 
(1,064
)
Other securities
 
0

 
0

 
5,649

 
(115
)
 
5,649

 
(115
)
Total
 
$
481,608

 
$
(1,814
)
 
$
214,322

 
$
(4,493
)
 
$
695,930

 
$
(6,307
)