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Investment Securities
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities 
 
The following tables present the amortized cost, unrealized gains, unrealized losses and approximate fair values of debt securities at March 31, 2020 and December 31, 2019: 
March 31, 2020
 (in thousands) Amortized CostUnrealized GainsUnrealized LossesFair Value
Available for sale:            
U.S. Treasury and agencies$691,066  $59,446  $—  $750,512  
Obligations of states and political subdivisions242,262  10,172  (15) 252,419  
Residential mortgage-backed securities and collateralized mortgage obligations
1,824,819  63,032  (307) 1,887,544  
Total available for sale securities$2,758,147  $132,650  $(322) $2,890,475  
Held to maturity:    
Residential mortgage-backed securities and collateralized mortgage obligations
$3,200  $865  $—  $4,065  
Total held to maturity securities$3,200  $865  $—  $4,065  


December 31, 2019
 (in thousands) 
Amortized CostUnrealized GainsUnrealized LossesFair Value
Available for sale:    
U.S. Treasury and agencies$642,009  $5,919  $(4,324) $643,604  
Obligations of states and political subdivisions251,531  9,600  (37) 261,094  
Residential mortgage-backed securities and collateralized mortgage obligations
1,896,708  18,962  (5,686) 1,909,984  
Total available for sale securities$2,790,248  $34,481  $(10,047) $2,814,682  
Held to maturity:    
Residential mortgage-backed securities and collateralized mortgage obligations
$3,260  $1,003  $—  $4,263  
Total held to maturity securities$3,260  $1,003  $—  $4,263  

Interest accrued on investment securities totaled $11.9 million and $9.8 million as of March 31, 2020 and December 31, 2019, respectively, and is included in Other Assets.
Debt securities that were in an unrealized loss position as of March 31, 2020 and December 31, 2019 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position.

March 31, 2020
Less than 12 Months12 Months or LongerTotal
  (in thousands) 
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Available for sale:      
Obligations of states and political subdivisions
$3,843  $10  $774  $5  $4,617  $15  
Residential mortgage-backed securities and collateralized mortgage obligations
—  —  22,719  307  22,719  307  
Total $3,843  $10  $23,493  $312  $27,336  $322  


December 31, 2019
Less than 12 Months12 Months or LongerTotal
  (in thousands)
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Available for sale:      
U.S. Treasury and agencies$313,169  $4,324  $—  $—  $313,169  $4,324  
Obligations of states and political subdivisions
4,611  30  1,906  7  6,517  37  
Residential mortgage-backed securities and collateralized mortgage obligations
288,866  1,628  402,802  4,058  691,668  5,686  
Total$606,646  $5,982  $404,708  $4,065  $1,011,354  $10,047  

These unrealized losses on the Company's debt securities were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and are not due to the underlying credit of the issuers. Management monitors the published credit ratings of the Company's securities for material rating or outlook changes. Substantially all of the Company's obligations of states and political subdivisions are general obligation issuances. All of the available for sale residential mortgage-backed securities and collateralized mortgage obligations portfolio in an unrealized loss position at March 31, 2020 are issued or guaranteed by government sponsored enterprises.

Because the decline in fair value of the Company's securities is attributable to changes in interest rates or widening market spreads and not credit quality, these investments do not have an allowance for credit loss at March 31, 2020.

The following table presents the contractual maturities of debt securities at March 31, 2020:  

Available For SaleHeld To Maturity
  (in thousands) 
Amortized CostFair ValueAmortized CostFair Value
Due within one year$25,308  $25,479  $—  $—  
Due after one year through five years53,243  54,215  3  3  
Due after five years through ten years851,403  908,128  11  12  
Due after ten years1,828,193  1,902,653  3,186  4,050  
Total securities$2,758,147  $2,890,475  $3,200  $4,065  
The following table presents, as of March 31, 2020, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: 
 (in thousands)
Amortized CostFair Value
To state and local governments to secure public deposits$283,422  $292,225  
Other securities pledged principally to secure repurchase agreements552,246  580,377  
Total pledged securities$835,668  $872,602