XML 31 R22.htm IDEA: XBRL DOCUMENT

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value, Option, Quantitative Disclosures [Line Items]

The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the fair value for available for sale debt securities at September 30, 2019 and December 31, 2018 (in thousands):


	September 30, 2019
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value



Mortgage-backed securities	$	1,009,953	14,504	(916)	1,023,541
State and municipal obligations	3,920		168	—	4,088
Corporate obligations	25,034		344	(12)	25,366

	$	1,038,907	15,016	(928)	1,052,995


	December 31, 2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value



Mortgage-backed securities	$	1,048,415	2,704	(16,150)	1,034,969
State and municipal obligations	2,828		84	—	2,912
Corporate obligations	25,039		268	(109)	25,198

	$	1,076,282	3,056	(16,259)	1,063,079

Available for sale Debt Securities with Temporary Impairment

The following tables present the fair values and gross unrealized losses for available for sale debt securities with temporary impairment at September 30, 2019 and December 31, 2018 (in thousands):


	September 30, 2019 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses


Mortgage-backed securities	$	98,998	(363)	69,399	(553)	168,397	(916)

Corporate obligations	2,018		(12)	—	—	2,018	(12)
	$	101,016	(375)	69,399	(553)	170,415	(928)


	December 31, 2018 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses



Mortgage-backed securities	$	218,175	(2,173)	545,880	(13,977)	764,055	(16,150)

Corporate obligations	7,897		(109)	—	—	7,897	(109)
	$	226,072	(2,282)	545,880	(13,977)	771,952	(16,259)

Investment Securities Held to Maturity

The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the estimated fair value for held to maturity debt securities at September 30, 2019 and December 31, 2018 (in thousands):


	September 30, 2019
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Agency obligations	$	4,948	11	(11)	4,948
Mortgage-backed securities	134		3	—	137
State and municipal obligations	445,896		15,035	(122)	460,809
Corporate obligations	10,760		55	(11)	10,804
	$	461,738	15,104	(144)	476,698


	December 31, 2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Agency obligations	$	4,989	1	(94)	4,896
Mortgage-backed securities	187		3	—	190
State and municipal obligations	463,801		4,329	(3,767)	464,363
Corporate obligations	10,448		1	(158)	10,291
	$	479,425	4,334	(4,019)	479,740

Schedule of Unrealized Loss on Investments

The following tables present the fair value and gross unrealized losses for held to maturity debt securities with temporary impairment at September 30, 2019 and December 31, 2018 (in thousands):


	September 30, 2019 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses
Agency obligations	$	3,348	(11)	—	—	3,348	(11)
State and municipal obligations	12,352		(52)	2,097	(70)	14,449	(122)
Corporate obligations	4,327		(11)	—	—	4,327	(11)
	$	20,027	(74)	2,097	(70)	22,124	(144)


	December 31, 2018 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses
Agency obligations	$	—	—	4,525	(94)	4,525	(94)
State and municipal obligations	96,412		(918)	81,663	(2,849)	178,075	(3,767)
Corporate obligations	—		—	9,004	(158)	9,004	(158)
	$	96,412	(918)	95,192	(3,101)	191,604	(4,019)

Available-for-sale Securities

Fair Value, Option, Quantitative Disclosures [Line Items]

Investment Securities Classified by Contractual Maturity

The amortized cost and fair value of available for sale debt securities at September 30, 2019, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.


	September 30, 2019
	Amortized cost		Fair value
Due in one year or less	$	—	—
Due after one year through five years	3,004		3,079
Due after five years through ten years	25,950		26,375
Due after ten years	—		—
	$	28,954	29,454

Held-to-maturity Securities

Fair Value, Option, Quantitative Disclosures [Line Items]

Investment Securities Classified by Contractual Maturity

The amortized cost and fair value of investment securities in the held to maturity debt securities portfolio at September 30, 2019 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.


	September 30, 2019
	Amortized cost		Fair value
Due in one year or less	$	11,752	11,768
Due after one year through five years	99,205		101,073
Due after five years through ten years	252,531		261,072
Due after ten years	98,116		102,648
	$	461,604	476,561