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Investment Securities
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities Available-For-Sale
The following table shows investment securities available-for-sale.
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
September 30, 2021    
U.S. Treasury and Federal agencies securities$893,378 $5,192 $(4,898)$893,672 
U.S. States and political subdivisions securities93,764 1,537 (751)94,550 
Mortgage-backed securities — Federal agencies569,805 7,140 (5,795)571,150 
Corporate debt securities22,509 759 — 23,268 
Foreign government and other securities600 — — 600 
Total debt securities available-for-sale$1,580,056 $14,628 $(11,444)$1,583,240 
December 31, 2020    
U.S. Treasury and Federal agencies securities$610,195 $9,521 $(234)$619,482 
U.S. States and political subdivisions securities78,812 2,346 (31)81,127 
Mortgage-backed securities — Federal agencies442,748 11,237 (196)453,789 
Corporate debt securities40,813 1,556 — 42,369 
Foreign government and other securities700 — — 700 
Total debt securities available-for-sale$1,173,268 $24,660 $(461)$1,197,467 
Amortized cost excludes accrued interest receivable which is included in Accrued Income and Other Assets on the Consolidated Statements of Financial Condition. At September 30, 2021 and December 31, 2020, accrued interest receivable on investment securities available-for-sale was $4.52 million and $3.84 million, respectively.
At September 30, 2021 and December 31, 2020, the residential mortgage-backed securities held by the Company consisted primarily of GNMA, FNMA and FHLMC pass-through certificates which are guaranteed by those respective agencies of the United States government (Government Sponsored Enterprise, GSEs).
The following table shows the contractual maturities of investments in debt securities available-for-sale at September 30, 2021. Expected maturities will differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(Dollars in thousands)Amortized CostFair Value
Due in one year or less$127,657 $128,770 
Due after one year through five years752,143 754,188 
Due after five years through ten years129,981 128,687 
Due after ten years470 445 
Mortgage-backed securities569,805 571,150 
Total debt securities available-for-sale$1,580,056 $1,583,240 
The following table summarizes gross unrealized losses and fair value by investment category and age. At September 30, 2021, the Company’s available-for-sale securities portfolio consisted of 679 securities, 218 of which were in an unrealized loss position.
 Less than 12 Months12 months or LongerTotal
(Dollars in thousands) Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
September 30, 2021      
U.S. Treasury and Federal agencies securities$562,067 $(4,100)$47,727 $(798)$609,794 $(4,898)
U.S. States and political subdivisions securities38,980 (729)418 (22)39,398 (751)
Mortgage-backed securities - Federal agencies346,008 (5,791)344 (4)346,352 (5,795)
Corporate debt securities— — — — — — 
Foreign government and other securities600 — — — 600 — 
Total debt securities available-for-sale$947,655 $(10,620)$48,489 $(824)$996,144 $(11,444)
December 31, 2020      
U.S. Treasury and Federal agencies securities$136,534 $(234)$— $— $136,534 $(234)
U.S. States and political subdivisions securities6,391 (30)199 (1)6,590 (31)
Mortgage-backed securities - Federal agencies67,736 (187)3,274 (9)71,010 (196)
Corporate debt securities— — — — — — 
Foreign government and other securities200 — — — 200 — 
Total debt securities available-for-sale$210,861 $(451)$3,473 $(10)$214,334 $(461)
The Company does not consider available-for-sale securities with unrealized losses at September 30, 2021 to be experiencing credit losses and recognized no resulting allowance for credit losses. The Company does not intend to sell these investments and it is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost basis, which may be the maturity dates of the securities. The unrealized losses occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase.
The following table shows the gross realized gains and losses from the available-for-sale debt securities portfolio. Realized gains and losses of all securities are computed using the specific identification cost basis.
Three Months Ended
September 30,		Nine Months Ended
September 30,
(Dollars in thousands)2021202020212020
Gross realized gains$— $— $221 $285 
Gross realized losses— — (901)(6)
Net realized (losses) gains$— $— $(680)$279 
At September 30, 2021 and December 31, 2020, investment securities available-for-sale with carrying values of $377.41 million and $338.68 million, respectively, were pledged as collateral for security repurchase agreements and for other purposes.