XML 52 R37.htm IDEA: XBRL DOCUMENT v3.24.0.1
Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Book Values and Fair Values of Available-for-Sale Securities
The book values and approximate fair values of investment securities at December 31, 2023 and 2022 are summarized as follows:
 20232022
 Amortized
Cost		Fair
Value		UnrealizedAmortized
Cost		Fair
Value		Unrealized
($ in thousands)Gains(Losses)Gains(Losses)
Securities available for sale:
       
US Treasury securities$174,785 172,570 — (2,215)174,420 168,758 — (5,662)
Government-sponsored enterprise securities71,964 60,266 — (11,698)71,957 57,456 — (14,501)
Mortgage-backed securities
2,323,674 1,937,784 30 (385,920)2,467,839 2,045,000 4 (422,843)
Corporate bonds
19,676 18,759 — (917)44,340 43,279 — (1,061)
Total available for sale$2,590,099 2,189,379 30 (400,750)2,758,556 2,314,493 4 (444,067)
Securities held to maturity:
Mortgage-backed securities
$12,085 11,447 — (638)15,150 14,221 — (929)
State and local governments
521,593 438,176 39 (83,456)526,550 418,307 7 (108,250)
Total held to maturity$533,678 449,623 39 (84,094)541,700 432,528 7 (109,179)
Book Values and Fair Values of Held-to-Maturity Securities
The book values and approximate fair values of investment securities at December 31, 2023 and 2022 are summarized as follows:
 20232022
 Amortized
Cost		Fair
Value		UnrealizedAmortized
Cost		Fair
Value		Unrealized
($ in thousands)Gains(Losses)Gains(Losses)
Securities available for sale:
       
US Treasury securities$174,785 172,570 — (2,215)174,420 168,758 — (5,662)
Government-sponsored enterprise securities71,964 60,266 — (11,698)71,957 57,456 — (14,501)
Mortgage-backed securities
2,323,674 1,937,784 30 (385,920)2,467,839 2,045,000 4 (422,843)
Corporate bonds
19,676 18,759 — (917)44,340 43,279 — (1,061)
Total available for sale$2,590,099 2,189,379 30 (400,750)2,758,556 2,314,493 4 (444,067)
Securities held to maturity:
Mortgage-backed securities
$12,085 11,447 — (638)15,150 14,221 — (929)
State and local governments
521,593 438,176 39 (83,456)526,550 418,307 7 (108,250)
Total held to maturity$533,678 449,623 39 (84,094)541,700 432,528 7 (109,179)
Schedule of Information Regarding Securities with Unrealized Losses
The following table presents information regarding securities with unrealized losses at December 31, 2023:
Securities in an Unrealized
Loss Position for
Less than 12 Months		Securities in an Unrealized
Loss Position for
More than 12 Months		Total
($ in thousands)Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
US Treasury securities$— — 172,570 2,215 172,570 2,215 
Government-sponsored enterprise securities— — 60,266 11,698 60,266 11,698 
Mortgage-backed securities1,117 5 1,945,830 386,553 1,946,947 386,558 
Corporate bonds— — 17,008 917 17,008 917 
State and local governments— — 432,476 83,456 432,476 83,456 
Total temporarily impaired securities$1,117 5 2,628,150 484,839 2,629,267 484,844 
The following table presents information regarding securities with unrealized losses at December 31, 2022:
Securities in an Unrealized
Loss Position for
Less than 12 Months		Securities in an Unrealized
Loss Position for
More than 12 Months		Total
($ in thousands)Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
US Treasury securities$168,758 5,662 — — 168,758 5,662 
Government-sponsored enterprise securities— — 57,456 14,501 57,456 14,501 
Mortgage-backed securities221,006 18,215 1,835,958 405,557 2,056,964 423,772 
Corporate bonds40,644 947 886 114 41,530 1,061 
State and local governments48,385 8,323 368,897 99,927 417,282 108,250 
Total temporarily impaired securities$478,793 33,147 2,263,197 520,099 2,741,990 553,246 
Schedule of Book Values and Approximate Fair Values of Investment Securities by Contractual Maturity
The book values and approximate fair values of investment securities at December 31, 2023, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 Securities Available for SaleSecurities Held to Maturity
($ in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Debt securities    
Due within one year$177,290 174,976 — — 
Due after one year but within five years10,000 8,602 1,998 1,797 
Due after five years but within ten years78,135 67,018 129,097 110,785 
Due after ten years1,000 999 390,498 325,594 
Mortgage-backed securities2,323,674 1,937,784 12,085 11,447 
Total securities$2,590,099 2,189,379 533,678 449,623