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Securities (Tables)
6 Months Ended
Jun. 30, 2023
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, 2023

 

December 31, 2022

 

 

 

 

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

$

113,195

 

$

 

$

3,343

 

$

109,852

 

$

113,211

 

$

 

$

2,346

 

$

110,865

 

Municipal obligations

 

205,306

 

 

40

 

 

4,841

 

 

200,505

 

 

207,014

 

 

59

 

 

3,981

 

 

203,092

 

Residential mortgage-backed securities

 

2,507,541

 

 

141

 

 

381,119

 

 

2,126,563

 

 

2,655,381

 

 

224

 

 

398,619

 

 

2,256,986

 

Commercial mortgage-backed securities

 

3,232,868

 

 

1,773

 

 

339,425

 

 

2,895,216

 

 

3,234,278

 

 

2,032

 

 

342,880

 

 

2,893,430

 

Collateralized mortgage obligations

 

68,773

 

 

 

 

6,043

 

 

62,730

 

 

76,830

 

 

 

 

6,242

 

 

70,588

 

Corporate debt securities

 

23,500

 

 

 

 

3,677

 

 

19,823

 

 

23,500

 

 

 

 

2,420

 

 

21,080

 

  Total

$

6,151,183

 

$

1,954

 

$

738,448

 

$

5,414,689

 

$

6,310,214

 

$

2,315

 

$

756,488

 

$

5,556,041

 

Amortized Cost and Fair Value of Debt Securities Held to Maturity

 

June 30, 2023

 

December 31, 2022

 

 

 

 

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

$

422,789

 

$

96

 

$

49,405

 

$

373,480

 

$

426,454

 

$

21

 

$

49,044

 

$

377,431

 

Municipal obligations

 

683,143

 

 

669

 

 

26,561

 

 

657,251

 

 

698,908

 

 

753

 

 

26,558

 

 

673,103

 

Residential mortgage-backed securities

 

694,693

 

 

 

 

71,754

 

 

622,939

 

 

734,478

 

 

 

 

72,532

 

 

661,946

 

Commercial mortgage-backed securities

 

942,272

 

 

 

 

91,213

 

 

851,059

 

 

948,691

 

 

 

 

87,211

 

 

861,480

 

Collateralized mortgage obligations

 

38,093

 

 

 

 

2,566

 

 

35,527

 

 

43,964

 

 

 

 

2,526

 

 

41,438

 

  Total

$

2,780,990

 

$

765

 

$

241,499

 

$

2,540,256

 

$

2,852,495

 

$

774

 

$

237,871

 

$

2,615,398

 

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, 2023 and 2022. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

 

Six Months Ended
 June 30,

 

($ in thousands)

 

2023

 

 

2022

 

Proceeds

 

$

 

 

$

73,219

 

Gross gains

 

 

 

 

 

 

Gross losses

 

 

 

 

 

87

 

Net loss

 

$

 

 

$

(87

)

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

 

$

2,667

 

 

$

2,607

 

Due after one year through five years

 

 

1,007,425

 

 

 

951,597

 

Due after five years through ten years

 

 

3,021,049

 

 

 

2,693,028

 

Due after ten years

 

 

2,120,042

 

 

 

1,767,457

 

Total available for sale debt securities

 

$

6,151,183

 

 

$

5,414,689

 

Securities with Unrealized Losses

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2023

 

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

 

$

101,949

 

 

$

1,770

 

 

$

7,903

 

 

$

1,573

 

 

$

109,852

 

 

$

3,343

 

Municipal obligations

 

 

114,411

 

 

 

2,165

 

 

 

84,699

 

 

 

2,676

 

 

 

199,110

 

 

 

4,841

 

Residential mortgage-backed securities

 

 

131,220

 

 

 

6,308

 

 

 

1,989,035

 

 

 

374,811

 

 

 

2,120,255

 

 

 

381,119

 

Commercial mortgage-backed securities

 

 

275,914

 

 

 

16,436

 

 

 

2,567,305

 

 

 

322,989

 

 

 

2,843,219

 

 

 

339,425

 

Collateralized mortgage obligations

 

 

 

 

 

 

 

 

62,730

 

 

 

6,043

 

 

 

62,730

 

 

 

6,043

 

Corporate debt securities

 

 

1,690

 

 

 

310

 

 

 

17,633

 

 

 

3,367

 

 

 

19,323

 

 

 

3,677

 

  Total

 

$

625,184

 

 

$

26,989

 

 

$

4,729,305

 

 

$

711,459

 

 

$

5,354,489

 

 

$

738,448

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 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

 

$

102,607

 

 

754

 

 

$

8,258

 

$

1,592

 

 

$

110,865

 

$

2,346

 

Municipal obligations

 

 

192,334

 

 

3,981

 

 

 

 

 

 

 

 

192,334

 

 

3,981

 

Residential mortgage-backed securities

 

 

636,060

 

 

49,790

 

 

 

1,611,832

 

 

348,829

 

 

 

2,247,892

 

 

398,619

 

Commercial mortgage-backed securities

 

 

1,489,974

 

 

114,195

 

 

 

1,351,530

 

 

228,685

 

 

 

2,841,504

 

 

342,880

 

Collateralized mortgage obligations

 

 

41,703

 

 

3,275

 

 

 

28,884

 

 

2,967

 

 

 

70,587

 

 

6,242

 

Corporate debt securities

 

 

13,194

 

 

1,306

 

 

 

7,386

 

 

1,114

 

 

 

20,580

 

 

2,420

 

  Total

 

$

2,475,872

 

$

173,301

 

 

$

3,007,890

 

$

583,187

 

 

$

5,483,762

 

$

756,488

 

 

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

 

$

6,636

 

 

$

6,478

 

Due after one year through five years

 

 

665,030

 

 

 

629,029

 

Due after five years through ten years

 

 

836,716

 

 

 

768,352

 

Due after ten years

 

 

1,272,608

 

 

 

1,136,397

 

Total held to maturity securities

 

$

2,780,990

 

 

$

2,540,256

 

Securities with Unrealized Losses

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2023

 

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

 

$

63,206

 

$

3,175

 

 

$

295,332

 

$

46,230

 

 

$

358,538

 

$

49,405

 

Municipal obligations

 

 

429,205

 

 

5,865

 

 

 

192,626

 

 

20,696

 

 

 

621,831

 

 

26,561

 

Residential mortgage-backed securities

 

 

215,171

 

 

12,457

 

 

 

407,768

 

 

59,297

 

 

 

622,939

 

 

71,754

 

Commercial mortgage-backed securities

 

 

119,234

 

 

6,908

 

 

 

731,825

 

 

84,305

 

 

 

851,059

 

 

91,213

 

Collateralized mortgage obligations

 

 

 

 

 

 

 

35,527

 

 

2,566

 

 

 

35,527

 

 

2,566

 

  Total

 

$

826,816

 

$

28,405

 

 

$

1,663,078

 

$

213,094

 

 

$

2,489,894

 

$

241,499

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 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

 

$

145,893

 

$

13,245

 

 

$

226,499

 

$

35,799

 

 

$

372,392

 

$

49,044

 

Municipal obligations

 

 

560,288

 

 

8,878

 

 

 

64,346

 

 

17,680

 

 

 

624,634

 

 

26,558

 

Residential mortgage-backed securities

 

 

391,146

 

 

30,515

 

 

 

270,800

 

 

42,017

 

 

 

661,946

 

 

72,532

 

Commercial mortgage-backed securities

 

 

697,827

 

 

56,899

 

 

 

163,653

 

 

30,312

 

 

 

861,480

 

 

87,211

 

Collateralized mortgage obligations

 

 

41,438

 

 

2,526

 

 

 

 

 

 

 

 

41,438

 

 

2,526

 

  Total

 

$

1,836,592

 

$

112,063

 

 

$

725,298

 

$

125,808

 

 

$

2,561,890

 

$

237,871