XML 40 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2
Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Securities
The amortized cost and estimated fair value of investment securities available-for-sale were as follows:
(Dollars in thousands)Amortized
 Cost		Gross Unrealized
Gain		Gross Unrealized
Loss		Estimated
Fair Value
AFS investment securities:
September 30, 2022    
U.S. Treasury$48,926 $— $(2,152)$46,774 
Agency486,111 — (55,248)430,863 
Corporate debt602,058 — (46,308)555,750 
Collateralized mortgage obligations856,867 24 (65,776)791,115 
Mortgage-backed securities991,429 — (154,852)836,577 
Total AFS investment securities$2,985,391 $24 $(324,336)$2,661,079 
December 31, 2021
U.S. Treasury$57,708 $614 $(456)$57,866 
Agency440,183 2,081 (10,129)432,135 
Corporate debt451,621 6,096 (3,856)453,861 
Municipal bonds1,061,985 32,209 (4,281)1,089,913 
Collateralized mortgage obligations680,686 2,012 (6,055)676,643 
Mortgage-backed securities1,586,406 3,220 (26,180)1,563,446 
Total AFS investment securities$4,278,589 $46,232 $(50,957)$4,273,864 

The carrying amount and estimated fair value of investment securities held-to-maturity were as follows:
(Dollars in thousands)Amortized
 Cost		Allowance for Credit LossesNet Carrying AmountGross Unrecognized
Gain		Gross Unrecognized
Loss		Estimated
Fair Value
HTM investment securities:
September 30, 2022
Municipal bonds$1,148,234 $(91)$1,148,143 $— $(294,439)$853,704 
Mortgage-backed securities235,937 — 235,937 — (35,876)200,061 
Other1,422 — 1,422 — — 1,422 
Total HTM investment securities$1,385,593 $(91)$1,385,502 $— $(330,315)$1,055,187 
December 31, 2021
Municipal bonds$368,344 $(22)$368,322 $3,834 $(1,649)$370,507 
Mortgage-backed securities11,843 — 11,843 564 — 12,407 
Other1,509 — 1,509 — — 1,509 
Total HTM investment securities$381,696 $(22)$381,674 $4,398 $(1,649)$384,423 
Schedule of Number, Fair Value and Gross Unrealized Holding Losses of the Company's Investment Securities by Investment Category and Length of Time that the Securities have been in a Continuous Loss Position
The table below summarizes the number, fair value, and gross unrealized holding losses of the Company’s AFS investment securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of the dates indicated, aggregated by investment category and length of time in a continuous loss position.
 September 30, 2022
 Less than 12 Months12 Months or LongerTotal
(Dollars in thousands)NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses
AFS investment securities:
U.S. Treasury5 $33,865 $(125)1 $12,909 $(2,027)6 $46,774 $(2,152)
Agency8 80,049 (1,118)35 350,814 (54,130)43 430,863 (55,248)
Corporate debt49 468,523 (28,413)8 87,227 (17,895)57 555,750 (46,308)
Collateralized mortgage obligations44 543,696 (35,355)36 239,916 (30,421)80 783,612 (65,776)
Mortgage-backed securities.16 103,048 (8,957)66 733,529 (145,895)82 836,577 (154,852)
Total AFS investment securities122 $1,229,181 $(73,968)146 $1,424,395 $(250,368)268 $2,653,576 $(324,336)
 December 31, 2021
 Less than 12 Months12 Months or LongerTotal
(Dollars in thousands)NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses		NumberFair
Value		Gross
Unrealized
Losses
AFS investment securities:
U.S. Treasury3 $47,235 $(456)— $— $— 3 $47,235 $(456)
Agency19 278,078 (5,634)16 119,750 (4,495)35 397,828 (10,129)
Corporate debt17 166,563 (849)3 57,274 (3,007)20 223,837 (3,856)
Municipal bonds36 277,564 (4,079)2 6,596 (202)38 284,160 (4,281)
Collateralized mortgage obligations26 226,763 (3,738)15 121,185 (2,317)41 347,948 (6,055)
Mortgage-backed securities103 1,306,455 (20,417)15 173,121 (5,763)118 1,479,576 (26,180)
Total AFS investment securities204 $2,302,658 $(35,173)51 $477,926 $(15,784)255 $2,780,584 $(50,957)
Schedule of Allowance for Credit Losses on Company's Held-to-maturity Debt Securities The following table presents a rollforward by major security type of the allowance for credit losses on the Company's HTM debt securities as of and for the periods indicated:
Three Months Ended September 30, 2022
(Dollars in thousands)
 Balance,
June 30, 2022
Provision for Credit Losses
Balance,
September 30, 2022
HTM investment securities:
Municipal bonds$109 $(18)$91 
Three Months Ended September 30, 2021
(Dollars in thousands) Balance,
June 30, 2021		Provision for Credit LossesBalance,
September 30, 2021
HTM investment securities:
Municipal bonds$— $11 $11 
Nine Months Ended September 30, 2022
(Dollars in thousands) Balance,
December 31, 2021		Provision for Credit Losses
Balance,
September 30, 2022
HTM investment securities:
Municipal bonds$22 $69 $91 
Nine Months Ended September 30, 2021
(Dollars in thousands) Balance,
December 31, 2020		Provision for Credit LossesBalance,
September 30, 2021
HTM investment securities:
Municipal bonds$— $11 $11 
Schedule of Realized Gain (Loss) on Investments
The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the periods indicated:
Three Months EndedNine Months Ended
September 30,June 30,September 30,September 30,September 30,
(Dollars in thousands)20222022202120222021
Amortized cost of AFS investment securities sold$231,076 $45,121 $161,597 $934,703 $617,116 
Gross realized gains$— $7 $4,190 $13,645 $18,462 
Gross realized (losses)(393)(38)— (11,935)(5,141)
Net realized (losses) gains on sales of AFS investment securities$(393)$(31)$4,190 $1,710 $13,321 
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale by Contractual Maturity
The amortized cost and estimated fair value of investment securities at September 30, 2022, by contractual maturity, are shown in the table below.
Due in One Year
or Less		Due after One Year
through Five Years		Due after Five Years
through Ten Years		Due after
Ten Years		Total
(Dollars in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
AFS investment securities:          
U.S. Treasury$9,648 $9,639 $24,342 $24,226 $14,936 $12,909 $— $— $48,926 $46,774 
Agency25,583 25,329 326,627 298,271 96,469 79,143 37,432 28,120 486,111 430,863 
Corporate debt— — 298,578 289,014 303,480 266,736 — — 602,058 555,750 
Collateralized mortgage obligations34,661 34,426 70,542 68,834 213,821 192,325 537,843 495,530 856,867 791,115 
Mortgage-backed securities— — 35,049 34,770 549,549 468,798 406,831 333,009 991,429 836,577 
Total AFS investment securities69,892 69,394 755,138 715,115 1,178,255 1,019,911 982,106 856,659 2,985,391 2,661,079 
HTM investment securities:
Municipal bonds— — 10,484 9,749 50,556 43,410 1,087,194 800,545 1,148,234 853,704 
Mortgage-backed securities— — — — — — 235,937 200,061 235,937 200,061 
Other— — — — — — 1,422 1,422 1,422 1,422 
Total HTM investment securities— — 10,484 9,749 50,556 43,410 1,324,553 1,002,028 1,385,593 1,055,187 
Total investment securities$69,892 $69,394 $765,622 $724,864 $1,228,811 $1,063,321 $2,306,659 $1,858,687 $4,370,984 $3,716,266