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Securities (Tables)
6 Months Ended
Jun. 30, 2022
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities Available for Sale

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

Securities Available for Sale

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury and government agency securities

 

$

10,036

 

 

$

 

 

$

972

 

 

$

9,064

 

 

$

420,857

 

 

$

3,781

 

 

$

5,340

 

 

$

419,298

 

Municipal obligations

 

 

213,486

 

 

 

338

 

 

 

3,080

 

 

 

210,744

 

 

 

304,536

 

 

 

13,184

 

 

 

3,562

 

 

 

314,158

 

Residential mortgage-backed securities

 

 

2,827,597

 

 

 

922

 

 

 

295,484

 

 

 

2,533,035

 

 

 

3,056,763

 

 

 

29,158

 

 

 

50,123

 

 

 

3,035,798

 

Commercial mortgage-backed securities

 

 

3,197,006

 

 

 

393

 

 

 

276,276

 

 

 

2,921,123

 

 

 

3,064,828

 

 

 

61,645

 

 

 

48,614

 

 

 

3,077,859

 

Collateralized mortgage obligations

 

 

86,809

 

 

 

 

 

 

3,771

 

 

 

83,038

 

 

 

119,046

 

 

 

1,837

 

 

 

 

 

 

120,883

 

Corporate debt securities

 

 

23,500

 

 

 

 

 

 

1,123

 

 

 

22,377

 

 

 

18,500

 

 

 

210

 

 

 

8

 

 

 

18,702

 



 

$

6,358,434

 

 

$

1,653

 

 

$

580,706

 

 

$

5,779,381

 

 

$

6,984,530

 

 

$

109,815

 

 

$

107,647

 

 

$

6,986,698

 

 

Amortized Cost and Fair Value of Debt Securities Held to Maturity

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

Securities Held to Maturity

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury and government agency securities

 

$

389,878

 

 

$

168

 

 

$

28,700

 

 

$

361,346

 

 

$

14,857

 

 

$

 

 

$

20

 

 

$

14,837

 

Municipal obligations

 

 

704,862

 

 

 

1,798

 

 

 

18,117

 

 

 

688,543

 

 

 

621,405

 

 

 

37,941

 

 

 

205

 

 

 

659,141

 

Residential mortgage-backed securities

 

 

702,905

 

 

 

 

 

 

43,366

 

 

 

659,539

 

 

 

268,907

 

 

 

682

 

 

 

1,499

 

 

 

268,090

 

Commercial mortgage-backed securities

 

 

900,776

 

 

 

 

 

 

46,664

 

 

 

854,112

 

 

 

603,156

 

 

 

28,679

 

 

 

669

 

 

 

631,166

 

Collateralized mortgage obligations

 

 

53,591

 

 

 

1

 

 

 

1,334

 

 

 

52,258

 

 

 

57,426

 

 

 

822

 

 

 

 

 

 

58,248

 



 

$

2,752,012

 

 

$

1,967

 

 

$

138,181

 

 

$

2,615,798

 

 

$

1,565,751

 

 

$

68,124

 

 

$

2,393

 

 

$

1,631,482

 

Proceeds from Gross Gains on and Gross Losses on Sale of Securities

The following table presents the proceeds from, gross gains on, and gross losses on sales of securities during the six months ended June 30, 2022 and 2021. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

 

Six Months EndedJune 30,

 

(in thousands)

 

2022

 

 

2021

 

Proceeds

 

$

73,219

 

 

$

198,681

 

Gross gains

 

 

 

 

 

1,649

 

Gross losses

 

 

87

 

 

 

1,316

 

Net loss

 

$

(87

)

 

$

333

 

Available for Sale Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Available for Sale

 

Amortized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

323

 

 

$

326

 

Due after one year through five years

 

 

825,767

 

 

 

803,642

 

Due after five years through ten years

 

 

2,932,193

 

 

 

2,674,994

 

Due after ten years

 

 

2,600,151

 

 

 

2,300,419

 

Total available for sale debt securities

 

$

6,358,434

 

 

$

5,779,381

 

Securities with Unrealized Losses

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2022

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

(in thousands)

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

9,064

 

 

$

972

 

 

$

 

 

$

 

 

$

9,064

 

 

$

972

 

Municipal obligations

 

 

180,505

 

 

 

3,080

 

 

 

 

 

 

 

 

 

180,505

 

 

 

3,080

 

Residential mortgage-backed securities

 

 

1,373,018

 

 

 

101,020

 

 

 

1,095,567

 

 

 

194,464

 

 

 

2,468,585

 

 

 

295,484

 

Commercial mortgage-backed securities

 

 

2,080,940

 

 

 

163,555

 

 

 

760,822

 

 

 

112,721

 

 

 

2,841,762

 

 

 

276,276

 

Collateralized mortgage obligations

 

 

83,038

 

 

 

3,771

 

 

 

 

 

 

 

 

 

83,038

 

 

 

3,771

 

Corporate debt securities

 

 

18,437

 

 

 

1,062

 

 

 

1,439

 

 

 

61

 

 

 

19,876

 

 

 

1,123

 



 

$

3,745,002

 

 

$

273,460

 

 

$

1,857,828

 

 

$

307,246

 

 

$

5,602,830

 

 

$

580,706

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

(in thousands)

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Treasury and government agency securities

 

$

198,318

 

 

 

2,305

 

 

$

63,534

 

 

$

3,035

 

 

$

261,852

 

 

$

5,340

 

Municipal obligations

 

 

43,021

 

 

 

2,372

 

 

 

25,126

 

 

 

1,190

 

 

 

68,147

 

 

 

3,562

 

Residential mortgage-backed securities

 

 

1,293,179

 

 

 

20,581

 

 

 

819,596

 

 

 

29,541

 

 

 

2,112,775

 

 

 

50,122

 

Commercial mortgage-backed securities

 

 

786,206

 

 

 

14,819

 

 

 

665,687

 

 

 

33,796

 

 

 

1,451,893

 

 

 

48,615

 

Collateralized mortgage obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

6,992

 

 

 

8

 

 

 

 

 

 

 

 

 

6,992

 

 

 

8

 



 

$

2,327,716

 

 

$

40,085

 

 

$

1,573,943

 

 

$

67,562

 

 

$

3,901,659

 

 

$

107,647

 

Held-to-maturity Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Held to Maturity

 

Amortized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

11,035

 

 

$

11,005

 

Due after one year through five years

 

 

385,208

 

 

 

380,049

 

Due after five years through ten years

 

 

951,715

 

 

 

905,108

 

Due after ten years

 

 

1,404,054

 

 

 

1,319,636

 

Total held to maturity securities

 

$

2,752,012

 

 

$

2,615,798

 

Securities with Unrealized Losses

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2022

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 



 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 



 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

(in thousands)

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Treasury and government agency securities

 

$

274,813

 

 

$

21,723

 

 

$

66,290

 

 

$

6,977

 

 

$

341,103

 

 

$

28,700

 

Municipal obligations

 

 

418,484

 

 

 

10,931

 

 

 

39,761

 

 

 

7,186

 

 

 

458,245

 

 

 

18,117

 

Residential mortgage-backed securities

 

 

653,358

 

 

 

42,184

 

 

 

6,181

 

 

 

1,182

 

 

 

659,539

 

 

 

43,366

 

Commercial mortgage-backed securities

 

 

843,698

 

 

 

44,795

 

 

 

10,414

 

 

 

1,869

 

 

 

854,112

 

 

 

46,664

 

Collateralized mortgage obligations

 

 

51,451

 

 

 

1,334

 

 

 

 

 

 

 

 

 

51,451

 

 

 

1,334

 



 

$

2,241,804

 

 

$

120,967

 

 

$

122,646

 

 

$

17,214

 

 

$

2,364,450

 

 

$

138,181

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 



 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 



 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

(in thousands)

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Treasury and government agency securities

 

$

14,837

 

 

$

20

 

 

$

 

 

$

 

 

$

14,837

 

 

$

20

 

Municipal obligations

 

 

7,795

 

 

 

205

 

 

 

 

 

 

 

 

 

7,795

 

 

 

205

 

Residential mortgage-backed securities

 

 

253,661

 

 

 

1,499

 

 

 

 

 

 

 

 

 

253,661

 

 

 

1,499

 

Commercial mortgage-backed securities

 

 

56,366

 

 

 

205

 

 

 

11,837

 

 

 

464

 

 

 

68,203

 

 

 

669

 

Collateralized mortgage obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

$

332,659

 

 

$

1,929

 

 

$

11,837

 

 

$

464

 

 

$

344,496

 

 

$

2,393