XML 43 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2018
Investment Securities  
Schedule of amortized cost and fair value of investment securities held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

    

Gross

 

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

    

Cost

    

Gains

    

Losses

    

Value

 

March 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

1,274

 

$

10

 

$

 —

 

$

1,284

 

December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

2,529

 

$

27

 

$

 —

 

$

2,556

 

March 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

6,095

 

$

122

 

$

 —

 

$

6,217

 

 

Schedule of amortized cost and fair value of investment securities available for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

    

Cost

    

Gains

    

Losses

    

Value

 

March 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt*

 

$

91,483

 

$

 —

 

$

(1,737)

 

$

89,746

 

State and municipal obligations

 

 

224,994

 

 

2,232

 

 

(1,540)

 

 

225,686

 

Mortgage-backed securities**

 

 

1,353,356

 

 

248

 

 

(28,199)

 

 

1,325,405

 

Corporate securities

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 

$

1,669,833

 

$

2,480

 

$

(31,476)

 

$

1,640,837

 

December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt*

 

$

86,535

 

$

51

 

$

(1,077)

 

$

85,509

 

State and municipal obligations

 

 

216,812

 

 

3,749

 

 

(124)

 

 

220,437

 

Mortgage-backed securities**

 

 

1,350,200

 

 

2,103

 

 

(11,616)

 

 

1,340,687

 

Corporate securities

 

 

1,560

 

 

 —

 

 

 —

 

 

1,560

 

 

 

$

1,655,107

 

$

5,903

 

$

(12,817)

 

$

1,648,193

 

March 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt*

 

$

93,995

 

$

25

 

$

(721)

 

$

93,299

 

State and municipal obligations

 

 

196,241

 

 

4,183

 

 

(140)

 

 

200,284

 

Mortgage-backed securities**

 

 

1,084,764

 

 

5,095

 

 

(6,420)

 

 

1,083,439

 

Corporate stocks

 

 

2,433

 

 

624

 

 

(291)

 

 

2,766

 

 

 

$

1,377,433

 

$

9,927

 

$

(7,572)

 

$

1,379,788

 

* -  The Company’s government-sponsored entities holdings are comprised of debt securities offered by Federal Home Loan Mortgage Corporation (“FHLMC”) or Freddie Mac, Federal National Mortgage Association (“FNMA”) or Fannie Mae, FHLB, and Federal Farm Credit Banks (“FFCB”). 

** - All of the mortgage-backed securities are issued by government-sponsored entities; there are no private-label holdings. Also, included in the Company’s mortgage-backed securities are debt securities offered by the Small Business Administration (“SBA”), which have the full faith and credit backing of the United States Government.

Schedule of amortized cost and fair value of other investment securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

    

Cost

    

Gains

    

Losses

    

Value

 

March 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Home Loan Bank stock

 

$

17,399

 

$

—

 

$

—

 

$

17,399

 

Investment in unconsolidated subsidiaries

 

 

3,563

 

 

—

 

 

—

 

 

3,563

 

Other nonmarketable investment securities

 

 

2,517

 

 

—

 

 

—

 

 

2,517

 

 

 

$

23,479

 

$

 —

 

$

 —

 

$

23,479

 

December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Home Loan Bank stock

 

$

16,967

 

$

—

 

$

—

 

$

16,967

 

Investment in unconsolidated subsidiaries

 

 

3,563

 

 

—

 

 

—

 

 

3,563

 

Other nonmarketable investment securities

 

 

2,517

 

 

—

 

 

—

 

 

2,517

 

 

 

$

23,047

 

$

 —

 

$

 —

 

$

23,047

 

March 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Home Loan Bank stock

 

$

11,239

 

$

—

 

$

—

 

$

11,239

 

Investment in unconsolidated subsidiaries

 

 

2,262

 

 

—

 

 

—

 

 

2,262

 

Other nonmarketable investment securities

 

 

1,225

 

 

—

 

 

—

 

 

1,225

 

 

 

$

14,726

 

$

 —

 

$

 —

 

$

14,726

 

 

Schedule of amortized cost and fair value of debt securities by contractual maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities

 

Securities

 

 

 

Held to Maturity

 

Available for Sale

 

 

 

Amortized

 

Fair

 

Amortized

 

Fair

 

(Dollars in thousands)

    

Cost

    

Value

    

Cost

    

Value

 

Due in one year or less

    

$

 —

 

$

 —

    

$

1,173

    

$

1,175

 

Due after one year through five years

 

 

 —

 

 

 —

 

 

122,525

 

 

121,675

 

Due after five years through ten years

 

 

1,274

 

 

1,284

 

 

374,833

 

 

369,402

 

Due after ten years

 

 

 —

 

 

 —

 

 

1,171,302

 

 

1,148,585

 

 

 

$

1,274

 

$

1,284

 

$

1,669,833

 

$

1,640,837

 

 

Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less Than

 

Twelve Months

 

 

 

Twelve Months

 

or More

 

 

 

Gross

 

 

 

 

Gross

 

 

 

 

 

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

(Dollars in thousands)

    

Losses

    

Value

    

Losses

    

Value

 

March 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

918

 

$

34,712

 

$

819

 

$

55,034

 

State and municipal obligations

 

 

1,523

 

 

69,118

 

 

17

 

 

724

 

Mortgage-backed securities

 

 

17,030

 

 

938,924

 

 

11,169

 

 

304,731

 

Corporate securities

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 

$

19,471

 

$

1,042,754

 

$

12,005

 

$

360,489

 

December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

403

 

$

27,442

 

$

674

 

$

52,324

 

State and municipal obligations

 

 

124

 

 

17,400

 

 

 —

 

 

 —

 

Mortgage-backed securities

 

 

4,493

 

 

610,051

 

 

7,123

 

 

322,258

 

Corporate securities

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 

$

5,020

 

$

654,893

 

$

7,797

 

$

374,582

 

March 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

721

 

$

87,609

 

$

 —

 

$

 —

 

State and municipal obligations

 

 

140

 

 

10,984

 

 

 —

 

 

 —

 

Mortgage-backed securities

 

 

6,349

 

 

601,953

 

 

71

 

 

1,940

 

Corporate stocks

 

 

 —

 

 

 —

 

 

291

 

 

1,451

 

 

 

$

7,210

 

$

700,546

 

$

362

 

$

3,391