XML 37 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2020 and December 31, 2019 are summarized as follows:
 
March 31, 2020
(In thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available-for-sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government agencies
$
9,296

 
$
287

 
$
—

 
$
9,583

Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
608,711

 
26,760

 
(252
)
 
635,219

Private mortgage-backed securities and collateralized mortgage obligations
52,868

 
111

 
(2,410
)
 
50,569

Collateralized loan obligations
205,238

 
—

 
(19,509
)
 
185,729

Obligations of state and political subdivisions
27,909

 
1,306

 
(4
)
 
29,211

Totals
$
904,022

 
$
28,464


$
(22,175
)

$
910,311

 
 
 
 
 
 
 
 
Debt securities held-to-maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. government sponsored entities
$
252,373

 
$
9,447

 
$
(602
)
 
$
261,218

Totals
$
252,373


$
9,447


$
(602
)

$
261,218

 
December 31, 2019
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available-for-sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government agencies
$
9,914

 
$
204

 
$
(4
)
 
$
10,114

Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
604,934

 
5,784

 
(1,511
)
 
609,207

Private mortgage-backed securities and collateralized mortgage obligations
56,005

 
1,561

 
(5
)
 
57,561

Collateralized loan obligations
239,364

 
7

 
(1,153
)
 
238,218

Obligations of state and political subdivisions
30,548

 
1,208

 
(1
)
 
31,755

Totals
$
940,765

 
$
8,764

 
$
(2,674
)
 
$
946,855

 
 
 
 
 
 
 
 
Debt securities held-to-maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. government sponsored entities
$
261,369

 
$
2,717

 
$
(1,873
)
 
$
262,213

Totals
$
261,369

 
$
2,717

 
$
(1,873
)
 
$
262,213
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2020 and December 31, 2019 are summarized as follows:
 
March 31, 2020
(In thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available-for-sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government agencies
$
9,296

 
$
287

 
$
—

 
$
9,583

Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
608,711

 
26,760

 
(252
)
 
635,219

Private mortgage-backed securities and collateralized mortgage obligations
52,868

 
111

 
(2,410
)
 
50,569

Collateralized loan obligations
205,238

 
—

 
(19,509
)
 
185,729

Obligations of state and political subdivisions
27,909

 
1,306

 
(4
)
 
29,211

Totals
$
904,022

 
$
28,464


$
(22,175
)

$
910,311

 
 
 
 
 
 
 
 
Debt securities held-to-maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. government sponsored entities
$
252,373

 
$
9,447

 
$
(602
)
 
$
261,218

Totals
$
252,373


$
9,447


$
(602
)

$
261,218

 
December 31, 2019
(In thousands)
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
Debt securities available-for-sale
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government agencies
$
9,914

 
$
204

 
$
(4
)
 
$
10,114

Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
604,934

 
5,784

 
(1,511
)
 
609,207

Private mortgage-backed securities and collateralized mortgage obligations
56,005

 
1,561

 
(5
)
 
57,561

Collateralized loan obligations
239,364

 
7

 
(1,153
)
 
238,218

Obligations of state and political subdivisions
30,548

 
1,208

 
(1
)
 
31,755

Totals
$
940,765

 
$
8,764

 
$
(2,674
)
 
$
946,855

 
 
 
 
 
 
 
 
Debt securities held-to-maturity
 
 
 
 
 
 
 
Mortgage-backed securities of U.S. government sponsored entities
$
261,369

 
$
2,717

 
$
(1,873
)
 
$
262,213

Totals
$
261,369

 
$
2,717

 
$
(1,873
)
 
$
262,213
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
 
Held to Maturity
 
Available-for-Sale
(In thousands)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
—

 
$
—

 
$
2,068

 
$
2,091

Due after one year through five years
—

 
—

 
8,374

 
8,585

Due after five years through ten years
—

 
—

 
9,040

 
9,546

Due after ten years
—

 
—

 
17,723

 
18,572

 
—

 
—

 
37,205

 
38,794

Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
252,373

 
261,218

 
608,711

 
635,219

Private mortgage-backed securities and collateralized mortgage obligations
—

 
—

 
52,868

 
50,569

Collateralized loan obligations
—

 
—

 
205,238

 
185,729

Totals
$
252,373

 
$
261,218

 
$
904,022

 
$
910,311
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate, at March 31, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded.
 
March 31, 2020
 
Less Than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
37,338

 
(239
)
 
363

 
(13
)
 
37,701

 
(252
)
Private mortgage-backed securities and collateralized mortgage obligations
37,775

 
(2,410
)
 
—

 
—

 
37,775

 
(2,410
)
Collateralized loan obligations
70,314

 
(6,465
)
 
115,415

 
(13,044
)
 
185,729

 
(19,509
)
Obligations of state and political subdivisions
1,239

 
(4
)
 
—

 
—

 
1,239

 
(4
)
Totals
$
146,666

 
$
(9,118
)
 
$
115,778

 
$
(13,057
)
 
$
262,444

 
$
(22,175
)
 
December 31, 2019
 
Less Than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies
$
758

 
$
(4
)
 
$
—

 
$
—

 
$
758

 
$
(4
)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities
220,057

 
(1,461
)
 
104,184

 
(1,923
)
 
324,241

 
(3,384
)
Private mortgage-backed securities and collateralized mortgage obligations
2,978

 
(5
)
 
—

 
—

 
2,978

 
(5
)
Collateralized loan obligations
88,680

 
(570
)
 
110,767

 
(583
)
 
199,447

 
(1,153
)
Obligations of state and political subdivisions
515

 
(1
)
 
—

 
—

 
515

 
(1
)
Totals
$
312,988

 
$
(2,041
)
 
$
214,951

 
$
(2,506
)
 
$
527,939

 
$
(4,547
)