Investment Securities (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities |
The following tables present the amortized costs, unrealized gains, unrealized losses and approximate fair values of debt securities at September 30, 2019 and December 31, 2018: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | September 30, 2019 | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | AVAILABLE FOR SALE: | | | | | | | | | | | | | U.S. Treasury and agencies | $ | 576,089 | | | $ | 11,379 | | | $ | (268) | | | $ | 587,200 | | | Obligations of states and political subdivisions | 258,853 | | | 10,212 | | | (35) | | | 269,030 | | Residential mortgage-backed securities and collateralized mortgage obligations | 1,968,346 | | | 22,424 | | | (4,924) | | | 1,985,846 | | | | | | | | | | | | $ | 2,803,288 | | | $ | 44,015 | | | $ | (5,227) | | | $ | 2,842,076 | | | HELD TO MATURITY: | | | | | | | | | | | | | | | | Residential mortgage-backed securities and collateralized mortgage obligations | $ | 3,320 | | | $ | 1,018 | | | $ | — | | | $ | 4,338 | | | | | | | | | | | | $ | 3,320 | | | $ | 1,018 | | | $ | — | | | $ | 4,338 | |
| | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | December 31, 2018 | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | AVAILABLE FOR SALE: | | | | | | | | | U.S. Treasury and agencies | $ | 40,002 | | | $ | — | | | $ | (346) | | | $ | 39,656 | | | Obligations of states and political subdivisions | 308,972 | | | 2,785 | | | (2,586) | | | 309,171 | | Residential mortgage-backed securities and collateralized mortgage obligations | 2,696,913 | | | 3,590 | | | (72,222) | | | 2,628,281 | | | | | | | | | | | | $ | 3,045,887 | | | $ | 6,375 | | | $ | (75,154) | | | $ | 2,977,108 | | | HELD TO MATURITY: | | | | | | | | | | | | | | | | Residential mortgage-backed securities and collateralized mortgage obligations | $ | 3,606 | | | $ | 1,038 | | | $ | — | | | $ | 4,644 | | | | | | | | | | | | $ | 3,606 | | | $ | 1,038 | | | $ | — | | | $ | 4,644 | |
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| Schedule Of Fair Value And Unrealized Losses Of Securities |
Debt securities that were in an unrealized loss position as of September 30, 2019 and December 31, 2018 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | September 30, 2019 | | | | | | | | | | | | Less than 12 Months | | | | 12 Months or Longer | | | | Total | | | | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | AVAILABLE FOR SALE: | | | | | | | | | | | | | U.S. Treasury and agencies | $ | 47,566 | | | $ | 226 | | | $ | 19,956 | | | $ | 42 | | | $ | 67,522 | | | $ | 268 | | Obligations of states and political subdivisions | 5,764 | | | 21 | | | 1,911 | | | 14 | | | 7,675 | | | 35 | | Residential mortgage-backed securities and collateralized mortgage obligations | 104,014 | | | 160 | | | 522,391 | | | 4,764 | | | 626,405 | | | 4,924 | | | Total temporarily impaired securities | $ | 157,344 | | | $ | 407 | | | $ | 544,258 | | | $ | 4,820 | | | $ | 701,602 | | | $ | 5,227 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | December 31, 2018 | | | | | | | | | | | | Less than 12 Months | | | | 12 Months or Longer | | | | Total | | | | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | AVAILABLE FOR SALE: | | | | | | | | | | | | | U.S. Treasury and agencies | $ | — | | | $ | — | | | $ | 39,656 | | | $ | 346 | | | $ | 39,656 | | | $ | 346 | | Obligations of states and political subdivisions | 59,963 | | | 800 | | | 38,691 | | | 1,786 | | | 98,654 | | | 2,586 | | Residential mortgage-backed securities and collateralized mortgage obligations | 332,103 | | | 5,432 | | | 1,992,546 | | | 66,790 | | | 2,324,649 | | | 72,222 | | | | | | | | | | | | | | | Total temporarily impaired securities | $ | 392,066 | | | $ | 6,232 | | | $ | 2,070,893 | | | $ | 68,922 | | | $ | 2,462,959 | | | $ | 75,154 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Schedule Of Maturities Of Investment Securities |
The following table presents the contractual maturities of debt securities at September 30, 2019: | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Available For Sale | | | | Held To Maturity | | | | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | | Due within one year | $ | 24,236 | | | $ | 24,228 | | | $ | — | | | $ | — | | | Due after one year through five years | 52,813 | | | 53,341 | | | — | | | — | | | Due after five years through ten years | 796,964 | | | 811,297 | | | 16 | | | 16 | | | Due after ten years | 1,929,275 | | | 1,953,210 | | | 3,304 | | | 4,322 | | | | | | | | | | | | $ | 2,803,288 | | | $ | 2,842,076 | | | $ | 3,320 | | | $ | 4,338 | |
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| Debt Securities, Available-for-sale |
The following table presents the gross realized gains and losses on the sale of debt securities available for sale for the nine months ended September 30, 2019 and 2018. There were no realized gains or losses on the sale of debt securities available for sale for the three months ended September 30, 2019 and 2018. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Nine Months Ended | | | | | | | | September 30, 2019 | | | | September 30, 2018 | | | | Gain | | | Loss | | | Gain | | | Loss | | | Obligations of states and political subdivisions | $ | 16 | | | $ | — | | | $ | — | | | $ | — | | | Residential mortgage-backed securities and collateralized mortgage obligations | 143 | | | (7,345) | | | 14 | | | — | | | $ | 159 | | | $ | (7,345) | | | $ | 14 | | | $ | — | |
The following table presents the gains and losses on equity securities for the three and nine months ended September 30, 2019 and 2018:
| | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Three Months Ended | | | | Nine Months Ended | | | | September 30, 2019 | | September 30, 2018 | | September 30, 2019 | | September 30, 2018 | | Unrealized gain (loss) recognized on equity securities held at the end of the period | $ | 295 | | | $ | (462) | | | $ | 1,744 | | | $ | (1,894) | | | Net gain (loss) recognized on equity securities sold during the period | (38) | | | — | | | 81,815 | | | — | | | Total gain (loss) recognized on equity securities | $ | 257 | | | $ | (462) | | | $ | 83,559 | | | $ | (1,894) | |
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| Investment Securities Pledged To Secure Borrowings And Public Deposits |
The following table presents, as of September 30, 2019, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: | | | | | | | | | | | | (in thousands) | Amortized Cost | | Fair Value | | | | | | To state and local governments to secure public deposits | $ | 922,449 | | | $ | 934,186 | | | Other securities pledged principally to secure repurchase agreements | 490,393 | | | 498,739 | | | Total pledged securities | $ | 1,412,842 | | | $ | 1,432,925 | |
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