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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Approximate Fair Values of Investment Securities
The amortized cost and approximate fair values of investment securities are summarized as follows:
December 31, 2021Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Available-for-Sale
U.S. Treasury notes$697.6 $— $(12.9)$684.7 
State, county, and municipal securities434.7 2.1 (9.3)427.5 
Obligations of U.S. government agencies356.0 0.1 (9.2)346.9 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations2,027.3 14.1 (23.3)2,018.1 
Private mortgage-backed securities174.4 0.1 (1.1)173.4 
Collateralized loan obligations898.2 1.2 — 899.4 
Corporate Securities271.1 3.0 (3.6)270.5 
Total$4,859.3 $20.6 $(59.4)$4,820.5 

December 31, 2021Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Held-to Maturity
State, county, and municipal securities$67.6 $2.0 $(0.4)$69.2 
U.S agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1)
1,609.0 13.2 (35.3)1,586.9 
Corporate securities11.0 0.4 — 11.4 
Total$1,687.6 $15.6 $(35.7)$1,667.5 
(1) Amortized costs presented above include $20.1 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 second quarter transfer of securities from available-for-sale to held-to-maturity.
December 31, 2020Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Available-for-Sale
State, county, and municipal securities$462.1 $4.8 $(1.0)$465.9 
Obligations of U.S. government agencies332.9 1.0 (2.0)331.9 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations2,830.8 69.3 (2.5)2,897.6 
Private mortgage-backed securities10.9 0.1 (0.1)10.9 
Corporate Securities295.8 6.5 (0.1)302.2 
Other investments0.2 — — 0.2 
Total$3,932.7 $81.7 $(5.7)$4,008.7 
December 31, 2020Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Held-to Maturity
State, county, and municipal securities$46.6 $3.2 $— $49.8 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations1.0 0.1 — 1.1 
Corporate securities3.9 0.1 — 4.0 
Other investments0.1 — — 0.1 
Total$51.6 $3.4 $— $55.0 
Gross Unrealized Losses and Fair Values of Investment Securities
The following tables show the gross unrealized losses and fair values of investment securities, aggregated by investment category, and the length of time individual investment securities have been in a continuous unrealized loss position, as of December 31, 2021 and 2020. There were no held-to-maturity securities in a continuous unrealized loss position as of December 31, 2020.
 Less than 12 Months12 Months or MoreTotal
December 31, 2021Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Available-for-Sale      
U.S. Treasury notes$684.7 $(12.9)$— $— $684.7 $(12.9)
State, county, and municipal securities278.7 (9.1)5.0 (0.2)283.7 (9.3)
Obligations of U.S. government agencies297.0 (8.9)16.4 (0.3)313.4 (9.2)
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations1,262.8 (23.0)26.4 (0.3)1,289.2 (23.3)
Private mortgage-backed securities127.2 (1.1)— — 127.2 (1.1)
Corporate securities109.9 (3.3)20.9 (0.3)130.8 (3.6)
Total$2,760.3 $(58.3)$68.7 $(1.1)$2,829.0 $(59.4)
 Less than 12 Months12 Months or MoreTotal
December 31, 2021Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Held-to-Maturity      
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations1,038.7 (35.3)— — 1,038.7 (35.3)
State, county and municipal securities29.0 (0.4)— — 29.0 (0.4)
Total$1,067.7 $(35.7)$— $— $1,067.7 $(35.7)
 Less than 12 Months12 Months or MoreTotal
December 31, 2020Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Available-for-Sale      
State, county, and municipal securities$148.1 $(1.0)$— $— $148.1 $(1.0)
Obligations of U.S. government agencies$235.6 $(2.0)$— $— $235.6 $(2.0)
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations434.0 (2.4)12.3 (0.1)446.3 (2.5)
Private mortgage-backed securities— — 4.3 (0.1)4.3 (0.1)
Corporate securities20.9 (0.1)— — 20.9 (0.1)
Total$838.6 $(5.5)$16.6 $(0.2)$855.2 $(5.7)
Maturities of Investment Securities All other investment securities maturities are shown at contractual maturity dates.
 Available-for-SaleHeld-to-Maturity
December 31, 2021Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Within one year$647.4 $742.8 $696.4 $687.2 
After one year but within five years1,482.4 1,577.4 374.5 363.6 
After five years but within ten years1,313.4 1,165.6 275.6 276.2 
After ten years1,416.1 1,334.7 341.1 340.5 
Total$4,859.3 $4,820.5 $1,687.6 $1,667.5