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Securities (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2020 and December 31, 2019 are summarized as follows:
 September 30, 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$8,518 $534 $(1)$9,051 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities916,231 23,676 (646)939,261 
Private mortgage-backed securities and collateralized mortgage obligations98,984 2,099 (298)100,785 
Collateralized loan obligations203,834 157 (2,613)201,378 
Obligations of state and political subdivisions34,312 2,168 (97)36,383 
Totals$1,261,879 $28,634 $(3,655)$1,286,858 
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$207,376 $8,642 $(18)$216,000 
Totals$207,376 $8,642 $(18)$216,000 
 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 entities604,934 5,784 (1,511)609,207 
Private mortgage-backed securities and collateralized mortgage obligations56,005 1,561 (5)57,561 
Collateralized loan obligations239,364 (1,153)238,218 
Obligations of state and political subdivisions30,548 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 entities261,369 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 September 30, 2020 and December 31, 2019 are summarized as follows:
 September 30, 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$8,518 $534 $(1)$9,051 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities916,231 23,676 (646)939,261 
Private mortgage-backed securities and collateralized mortgage obligations98,984 2,099 (298)100,785 
Collateralized loan obligations203,834 157 (2,613)201,378 
Obligations of state and political subdivisions34,312 2,168 (97)36,383 
Totals$1,261,879 $28,634 $(3,655)$1,286,858 
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$207,376 $8,642 $(18)$216,000 
Totals$207,376 $8,642 $(18)$216,000 
 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 entities604,934 5,784 (1,511)609,207 
Private mortgage-backed securities and collateralized mortgage obligations56,005 1,561 (5)57,561 
Collateralized loan obligations239,364 (1,153)238,218 
Obligations of state and political subdivisions30,548 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 entities261,369 2,717 (1,873)262,213 
Totals$261,369 $2,717 $(1,873)$262,213 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
 Held to MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $2,096 $2,107 
Due after one year through five years— — 10,986 11,612 
Due after five years through ten years— — 10,118 10,871 
Due after ten years— — 19,630 20,844 
 — — 42,830 45,434 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities207,376 216,000 916,231 939,261 
Private mortgage-backed securities and collateralized mortgage obligations— — 98,984 100,785 
Collateralized loan obligations— — 203,834 201,378 
Totals$207,376 $216,000 $1,261,879 $1,286,858 
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate, at September 30, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded.
 September 30, 2020
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$— — $258 $(1)$258 $(1)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities248,463 (628)351 (18)248,814 (646)
Private mortgage-backed securities and collateralized mortgage obligations28,276 (298)— — 28,276 (298)
Collateralized loan obligations66,037 (699)110,500 (1,914)176,537 (2,613)
Obligations of state and political subdivisions6,782 (97)— — 6,782 (97)
Totals$349,558 $(1,722)$111,109 $(1,933)$460,667 $(3,655)
 December 31, 2019
 Less Than 12 Months12 Months or LongerTotal
(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 entities220,057 (1,461)104,184 (1,923)324,241 (3,384)
Private mortgage-backed securities and collateralized mortgage obligations2,978 (5)— — 2,978 (5)
Collateralized loan obligations88,680 (570)110,767 (583)199,447 (1,153)
Obligations of state and political subdivisions515 (1)— — 515 (1)
Totals$312,988 $(2,041)$214,951 $(2,506)$527,939 $(4,547)