Investment Securities (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2020:
Government-sponsored entities debt*	$	4,882	$	31	$	—	$	4,913
U.S. Treasuries		199,988		—		(1)		199,987
State and municipal obligations		443,732		10,487		(565)		453,654
Mortgage-backed securities**		2,421,586		54,214		(2,331)		2,473,469
Corporate securities		5,588		107		—		5,695
	$	3,075,776	$	64,839	$	(2,897)	$	3,137,718
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
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

* -  Our government-sponsored entities holdings are comprised of debt securities offered by Freddie Mac, Fannie Mae, Ginnie Mae, the FHLB, 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
June 30, 2020:
Federal Home Loan Bank stock	$	44,754
Federal Reserve Bank stock		78,194
Investment in unconsolidated subsidiaries		4,941
Other nonmarketable investment securities		5,541
	$	133,430
December 31, 2019:
Federal Home Loan Bank stock	$	43,044
Investment in unconsolidated subsidiaries		3,563
Other nonmarketable investment securities		2,517
	$	49,124
June 30, 2019:
Federal Home Loan Bank stock	$	43,044
Investment in unconsolidated subsidiaries		3,563
Other nonmarketable investment securities		2,517
	$	49,124

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	$	205,930	$	205,953
Due after one year through five years		41,971		43,177
Due after five years through ten years		494,853		512,055
Due after ten years		2,333,022		2,376,533
	$	3,075,776	$	3,137,718

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, 2020:
Securities Available for Sale
Government-sponsored entities debt	$	—	$	—	$	—	$	—
U.S. Treasuries		1		199,987		—		—
State and municipal obligations		565		97,363		—		—
Mortgage-backed securities		1,486		369,234		845		68,994
Corporate securities		—		—		—		—
	$	2,052	$	666,584	$	845	$	68,994
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
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