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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2019
Investment Securities [Abstract]  
Schedule Of Investment Securities Classified As Available-for-sale And Held-to-maturity





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Available-for-sale

 

June 30, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

U.S. Government agency securities

 

$               56,525 

 

$                1,272 

 

$                 (136)

 

$              57,661 

Asset-backed securities *

 

262,792 

 

295 

 

(417)

 

262,670 

Tax-exempt obligations of states and political subdivisions

 

6,173 

 

127 

 

(1)

 

6,299 

Taxable obligations of states and political subdivisions

 

60,084 

 

2,052 

 

 -

 

62,136 

Residential mortgage-backed securities

 

367,108 

 

2,719 

 

(1,760)

 

368,067 

Collateralized mortgage obligation securities

 

248,350 

 

2,132 

 

(302)

 

250,180 

Commercial mortgage-backed securities

 

353,245 

 

4,330 

 

(2,809)

 

354,766 



 

$          1,354,277 

 

$              12,927 

 

$              (5,425)

 

$         1,361,779 







 

 

 

 

 

 

 

 



 

June 30, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

* Asset-backed securities as shown above

 

cost

 

gains

 

losses

 

value

Federally insured student loan securities

 

$               48,376 

 

$                    85 

 

$                (230)

 

$              48,231 

Collateralized loan obligation securities

 

210,843 

 

205 

 

(187)

 

210,861 

Other

 

3,573 

 

 

 -

 

3,578 



 

$             262,792 

 

$                  295 

 

$                (417)

 

$            262,670 







 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Held-to-maturity

 

June 30, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

Other debt securities - single issuers

 

$                 9,193 

 

$                      - 

 

$             (1,857)

 

$                7,336 

Other debt securities - pooled

 

75,221 

 

805 

 

 -

 

76,026 



 

$               84,414 

 

$                  805 

 

$             (1,857)

 

$              83,362 





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Available-for-sale

 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

U.S. Government agency securities

 

$               54,095 

 

$                  146 

 

$                (879)

 

$              53,362 

Asset-backed securities *

 

189,850 

 

104 

 

(1,352)

 

188,602 

Tax-exempt obligations of states and political subdivisions

 

7,546 

 

50 

 

(45)

 

7,551 

Taxable obligations of states and political subdivisions

 

60,152 

 

803 

 

(520)

 

60,435 

Residential mortgage-backed securities

 

377,199 

 

648 

 

(8,106)

 

369,741 

Collateralized mortgage obligation securities

 

265,914 

 

287 

 

(3,994)

 

262,207 

Commercial mortgage-backed securities

 

300,143 

 

190 

 

(5,907)

 

294,426 



 

$          1,254,899 

 

$               2,228 

 

$           (20,803)

 

$         1,236,324 







 

 

 

 

 

 

 

 



 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

* Asset-backed securities as shown above

 

cost

 

gains

 

losses

 

value

Federally insured student loan securities

 

$               59,705 

 

$                    87 

 

$                (283)

 

$              59,509 

Collateralized loan obligation securities

 

125,045 

 

 -

 

(1,069)

 

123,976 

Other

 

5,100 

 

17 

 

 -

 

5,117 



 

$             189,850 

 

$                  104 

 

$             (1,352)

 

$            188,602 







 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Held-to-maturity

 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

Other debt securities - single issuers

 

$                 9,168 

 

$                      - 

 

$             (1,890)

 

$                7,278 

Other debt securities - pooled

 

75,264 

 

849 

 

 -

 

76,113 



 

$               84,432 

 

$                  849 

 

$             (1,890)

 

$              83,391 



Amortized Cost And Fair Value Of Investment Securities By Contractual Maturity



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

Available-for-sale

 

Held-to-maturity



 

Amortized

 

Fair

 

Amortized

 

Fair



 

cost

 

value

 

cost

 

value

Due before one year

 

$                 1,135 

 

$                1,135 

 

$                       - 

 

$                      - 

Due after one year through five years

 

50,195 

 

50,924 

 

 -

 

 -

Due after five years through ten years

 

281,365 

 

286,201 

 

 -

 

 -

Due after ten years

 

1,021,582 

 

1,023,519 

 

84,414 

 

83,362 



 

$          1,354,277 

 

$         1,361,779 

 

$              84,414 

 

$            83,362 



Available-for-sale And Held-to-maturity Securities, Continuous Unrealized Loss Position



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency securities

 

2

 

$                      - 

 

$                      - 

 

$                4,529 

 

$                (136)

 

$                  4,529 

 

$                (136)

Asset-backed securities

 

23

 

125,356 

 

(248)

 

10,451 

 

(169)

 

135,807 

 

(417)

Tax-exempt obligations of states and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     political subdivisions

 

1

 

 -

 

 -

 

1,135 

 

(1)

 

1,135 

 

(1)

Residential mortgage-backed securities

 

77

 

1,948 

 

(1)

 

123,035 

 

(1,759)

 

124,983 

 

(1,760)

Collateralized mortgage obligation securities

 

25

 

26,660 

 

(37)

 

46,455 

 

(265)

 

73,115 

 

(302)

Commercial mortgage-backed securities

 

10

 

119,360 

 

(2,655)

 

43,758 

 

(154)

 

163,118 

 

(2,809)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

138

 

$           273,324 

 

$             (2,941)

 

$            229,363 

 

$             (2,484)

 

$              502,687 

 

$             (5,425)







 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single issuers

 

1

 

$                      - 

 

$                      - 

 

$                7,336 

 

$             (1,857)

 

$                  7,336 

 

$             (1,857)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

1

 

$                      - 

 

$                      - 

 

$                7,336 

 

$             (1,857)

 

$                  7,336 

 

$             (1,857)



The table below indicates the length of time individual securities had been in a continuous unrealized loss position at December 31, 2018 (dollars in thousands):







 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency securities

 

10

 

$                  679 

 

$                    (2)

 

$              41,719 

 

$                (877)

 

$                 42,398 

 

$                (879)

Asset-backed securities

 

26

 

148,753 

 

(1,230)

 

11,506 

 

(122)

 

160,259 

 

(1,352)

Tax-exempt obligations of states and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     political subdivisions

 

3

 

 -

 

 -

 

3,625 

 

(45)

 

3,625 

 

(45)

Taxable obligations of states and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     political subdivisions

 

22

 

4,492 

 

(19)

 

35,599 

 

(501)

 

40,091 

 

(520)

Residential mortgage-backed securities

 

118

 

17,168 

 

(49)

 

302,407 

 

(8,057)

 

319,575 

 

(8,106)

Collateralized mortgage obligation securities

 

44

 

1,522 

 

(3)

 

193,355 

 

(3,991)

 

194,877 

 

(3,994)

Commercial mortgage-backed securities

 

26

 

121,860 

 

(2,020)

 

151,453 

 

(3,887)

 

273,313 

 

(5,907)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

249

 

$           294,474 

 

$             (3,323)

 

$            739,664 

 

$           (17,480)

 

$            1,034,138 

 

$           (20,803)







 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single issuers

 

1

 

$                      - 

 

$                      - 

 

$                7,278 

 

$             (1,890)

 

$                  7,278 

 

$             (1,890)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

1

 

$                      - 

 

$                      - 

 

$                7,278 

 

$             (1,890)

 

$                  7,278 

 

$             (1,890)