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INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and Estimated fair values of Investments Available-for-sale
The amortized cost and estimated fair values of investments available-for-sale at the dates indicated are presented in the following table:
 September 30, 2020December 31, 2019
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
U.S. treasuries and government agencies$140,454 $914 $(1,963)$139,405 $260,294 $887 $(2,686)$258,495 
State and municipal344,168 9,435 (616)352,987 229,309 4,377 (37)233,649 
Mortgage-backed and asset-backed826,450 25,967 (103)852,314 568,373 3,268 (882)570,759 
Corporate debt12,112 394 (7)12,499 9,100 452 — 9,552 
Trust preferred    310 — — 310 
Total debt securities1,323,184 36,710 (2,689)1,357,205 1,067,386 8,984 (3,605)1,072,765 
Marketable equity securities    568 — — 568 
Total investments available-for-sale$1,323,184 $36,710 $(2,689)$1,357,205 $1,067,954 $8,984 $(3,605)$1,073,333 
Gross Unrealized Losses and Fair Value by Length of Time
Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in an unrealized loss position at the dates indicated are presented in the following tables:
 September 30, 2020
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies7 $ $ $91,193 $1,963 $91,193 $1,963 
State and municipal19 57,024 616   57,024 616 
Mortgage-backed and asset-backed13 28,862 77 7,030 26 35,892 103 
Corporate debt2 3,005 7   3,005 7 
Total41 $88,891 $700 $98,223 $1,989 $187,114 $2,689 

 December 31, 2019
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies12 $133,221 $2,211 $17,911 $475 $151,132 $2,686 
State and municipal7,227 37 — — 7,227 37 
Mortgage-backed and asset-backed35 107,917 508 76,867 374 184,784 882 
Total50 $248,365 $2,756 $94,778 $849 $343,143 $3,605 
Estimated fair values of debt securities available-for-sale by contractual maturity
September 30, 2020December 31, 2019
(In thousands)Fair ValueAmortized CostFair ValueAmortized Cost
U.S. treasuries and government agencies:
One year or less$28,139 $27,974 $69,799 $69,330 
One to five years11,902 11,380 96,709 96,507 
Five to ten years  — — 
After ten years99,364 101,100 91,987 94,457 
State and municipal:
One year or less18,663 18,457 33,311 33,054 
One to five years47,558 46,440 76,723 75,432 
Five to ten years59,670 56,731 75,820 73,741 
After ten years227,096 222,540 47,795 47,082 
Mortgage-backed and asset-backed:
One year or less2 2 852 822 
One to five years21,191 20,800 7,125 6,969 
Five to ten years58,878 57,430 55,226 54,799 
After ten years772,243 748,218 507,556 505,783 
Corporate debt:
One year or less  — — 
One to five years  — — 
Five to ten years12,499 12,112 9,552 9,100 
After ten years  — — 
Trust preferred:
One year or less  — — 
One to five years  — — 
Five to ten years  — — 
After ten years  310 310 
Total available-for-sale debt securities$1,357,205 $1,323,184 $1,072,765 $1,067,386 
Other Equity Securities
Other equity securities at the dates indicated are presented in the following table:
(In thousands)September 30, 2020December 31, 2019
Federal Reserve Bank stock$38,650 $22,559 
Federal Home Loan Bank of Atlanta stock29,201 29,244 
Marketable equity securities677 — 
Total equity securities$68,528 $51,803