Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

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
March 31, 2020:
Government-sponsored entities debt*	$	4,882	$	39	$	—	$	4,921
State and municipal obligations		215,388		6,631		(415)		221,604
Mortgage-backed securities**		1,695,191		51,971		(2,492)		1,744,670
	$	1,915,461	$	58,641	$	(2,907)	$	1,971,195
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
March 31, 2019:
Government-sponsored entities debt*	$	65,567	$	441	$	(304)	$	65,704
State and municipal obligations		190,302		3,170		(54)		193,418
Mortgage-backed securities**		1,216,669		1,991		(11,533)		1,207,127
	$	1,472,538	$	5,602	$	(11,891)	$	1,466,249

* -  Our government-sponsored entities holdings are comprised of debt securities offered by FHLMC, FNMA, FHLB, GNMA and 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 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
March 31, 2020:
Federal Home Loan Bank stock	$	56,914
Investment in unconsolidated subsidiaries		3,563
Other nonmarketable investment securities		2,517
	$	62,994
December 31, 2019:
Federal Home Loan Bank stock	$	43,044
Investment in unconsolidated subsidiaries		3,563
Other nonmarketable investment securities		2,517
	$	49,124
March 31, 2019:
Federal Home Loan Bank stock	$	34,544
Investment in unconsolidated subsidiaries		3,563
Other nonmarketable investment securities		2,517
	$	40,624

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	$	12,015	$	12,051
Due after one year through five years		36,369		37,250
Due after five years through ten years		415,577		427,830
Due after ten years		1,451,500		1,494,064
	$	1,915,461	$	1,971,195

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, 2020:
Securities Available for Sale
Government-sponsored entities debt	$	—	$	—	$	—	$	—
State and municipal obligations		415		15,646		—		—
Mortgage-backed securities		1,888		231,144		604		52,993
	$	2,303	$	246,790	$	604	$	52,993
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
March 31, 2019:
Securities Available for Sale
Government-sponsored entities debt	$	49	$	11,687	$	255	$	30,490
State and municipal obligations		—		—		54		10,310
Mortgage-backed securities		726		110,389		10,807		826,714
	$	775	$	122,076	$	11,116	$	867,514