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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2019
Investment Securities  
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

 

December 31, 2019:

Government-sponsored entities debt*

$

25,356

$

585

$

$

25,941

State and municipal obligations

 

204,150

 

5,029

 

(764)

 

208,415

Mortgage-backed securities**

 

1,711,257

 

14,209

 

(3,775)

 

1,721,691

$

1,940,763

$

19,823

$

(4,539)

$

1,956,047

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

*     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”). Also included in the Company’s government-sponsored entities are debt securities offered by the Small Business Administration (“SBA”), which have the full faith and credit backing of the United States Government.

**   All of the mortgage-backed securities are issued by government-sponsored entities; there are no private-label holdings.

Schedule of amortized cost and carrying value of other investment securities

Carrying

 

(Dollars in thousands)

    

Value

 

December 31, 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

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

Securities

 

Available for Sale

 

Amortized

Fair

 

(Dollars in thousands)

    

Cost

    

Value

 

Due in one year or less

    

$

7,267

    

$

7,315

Due after one year through five years

 

54,662

 

55,286

Due after five years through ten years

 

442,830

 

447,167

Due after ten years

 

1,436,004

 

1,446,279

$

1,940,763

$

1,956,047

Schedule of information with respect to sales of availableforsale securities

Year Ended December 31,

(Dollars in thousands)

    

2019

    

2018

    

2017

 

Securities Available for Sale:

Sale proceeds

    

$

242,733

    

$

73,054

    

$

374,938

Gross realized gains

$

6,030

$

31

$

1,832

Gross realized losses

 

(3,319)

 

(686)

 

(411)

Net realized gain

$

2,711

$

(655)

$

1,421

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

 

December 31, 2019:

Securities Available for Sale

Government-sponsored entities debt

$

$

$

$

State and municipal obligations

 

764

 

42,070

 

 

Mortgage-backed securities

 

2,422

 

461,658

 

1,353

 

141,982

$

3,186

$

503,728

$

1,353

$

141,982

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