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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2019
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

 

June 30, 2019:

State and municipal obligations

$

$

$

$

December 31, 2018:

State and municipal obligations

$

$

$

$

June 30, 2018:

State and municipal obligations

$

499

$

4

$

$

503

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

 

June 30, 2019:

Government-sponsored entities debt*

$

65,604

$

933

$

(8)

$

66,529

State and municipal obligations

 

177,533

 

4,614

 

(1)

 

182,146

Mortgage-backed securities**

 

1,457,544

 

13,983

 

(2,926)

 

1,468,601

$

1,700,681

$

19,530

$

(2,935)

$

1,717,276

December 31, 2018:

Government-sponsored entities debt*

$

48,982

$

21

$

(752)

$

48,251

State and municipal obligations

 

200,184

 

1,709

 

(1,125)

 

200,768

Mortgage-backed securities**

 

1,291,484

 

697

 

(24,133)

 

1,268,048

$

1,540,650

$

2,427

$

(26,010)

$

1,517,067

June 30, 2018:

Government-sponsored entities debt*

$

48,933

$

$

(1,320)

$

47,613

State and municipal obligations

 

223,533

 

1,932

 

(1,649)

 

223,816

Mortgage-backed securities**

 

1,342,105

 

110

 

(35,645)

 

1,306,570

$

1,614,571

$

2,042

$

(38,614)

$

1,577,999

* -  Our 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, Federal Home Loan Bank (“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 our 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 carrying value of other investment securities

Carrying

 

(Dollars in thousands)

    

Value

 

June 30, 2019:

Federal Home Loan Bank stock

$

43,044

Investment in unconsolidated subsidiaries

 

3,563

Other nonmarketable investment securities

 

2,517

$

49,124

December 31, 2018:

Federal Home Loan Bank stock

$

19,524

Investment in unconsolidated subsidiaries

 

3,563

Other nonmarketable investment securities

 

2,517

$

25,604

June 30, 2018:

Federal Home Loan Bank stock

$

13,149

Investment in unconsolidated subsidiaries

 

3,563

Other nonmarketable investment securities

 

2,517

$

19,229

Schedule of amortized cost and fair value of debt and equity 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

    

$

$

    

$

11,037

    

$

11,038

Due after one year through five years

 

 

 

52,053

 

52,764

Due after five years through ten years

 

 

 

402,345

 

408,027

Due after ten years

 

 

 

1,235,246

 

1,245,447

$

$

$

1,700,681

$

1,717,276

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

 

June 30, 2019:

Securities Available for Sale

Government-sponsored entities debt

$

$

$

8

$

5,742

State and municipal obligations

 

 

1,490

 

1

 

1,153

Mortgage-backed securities

 

324

 

64,960

 

2,602

 

330,213

$

324

$

66,450

$

2,611

$

337,108

December 31, 2018:

Securities Available for Sale

Government-sponsored entities debt

$

100

$

10,571

$

652

$

32,959

State and municipal obligations

 

760

 

40,387

 

365

 

14,231

Mortgage-backed securities

 

5,182

 

405,055

 

18,951

 

755,223

$

6,042

$

456,013

$

19,968

$

802,413

June 30, 2018:

Securities Available for Sale

Government-sponsored entities debt

$

1,179

$

39,145

$

141

$

8,468

State and municipal obligations

 

1,617

 

77,373

 

32

 

1,348

Mortgage-backed securities

 

21,494

 

946,142

 

14,151

 

331,871

$

24,290

$

1,062,660

$

14,324

$

341,687