Investment Securities Available-For-Sale (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Investments, Debt and Equity Securities [Abstract] |
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Schedule of investment securities available-for-sale |
The following table shows investment securities available-for-sale. | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | December 31, 2021 | | | | | | | | | U.S. Treasury and Federal agencies securities | | $ | 1,093,780 | | | $ | 3,244 | | | $ | (13,018) | | | $ | 1,084,006 | | U.S. States and political subdivisions securities | | 95,700 | | | 1,130 | | | (1,129) | | | 95,701 | | Mortgage-backed securities - Federal agencies | | 663,441 | | | 4,745 | | | (8,459) | | | 659,727 | | Corporate debt securities | | 22,510 | | | 499 | | | — | | | 23,009 | | Foreign government securities | | 600 | | | — | | | (2) | | | 598 | | Total investment securities available-for-sale | | $ | 1,876,031 | | | $ | 9,618 | | | $ | (22,608) | | | $ | 1,863,041 | | December 31, 2020 | | | | | | | | | U.S. Treasury and Federal agencies securities | | $ | 610,195 | | | $ | 9,521 | | | $ | (234) | | | $ | 619,482 | | U.S. States and political subdivisions securities | | 78,812 | | | 2,346 | | | (31) | | | 81,127 | | Mortgage-backed securities - Federal agencies | | 442,748 | | | 11,237 | | | (196) | | | 453,789 | | Corporate debt securities | | 40,813 | | | 1,556 | | | — | | | 42,369 | | Foreign government securities | | 700 | | | — | | | — | | | 700 | | | | | | | | | | | | | | | | | | | | Total investment securities available-for-sale | | $ | 1,173,268 | | | $ | 24,660 | | | $ | (461) | | | $ | 1,197,467 | |
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Schedule of contractual maturities of investments in debt securities available-for-sale |
The following table shows the contractual maturities of investments in debt securities available-for-sale at December 31, 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 Cost | | Fair Value | Due in one year or less | | $ | 105,859 | | | $ | 106,732 | | Due after one year through five years | | 948,501 | | | 940,267 | | Due after five years through ten years | | 157,760 | | | 155,850 | | Due after ten years | | 470 | | | 465 | | Mortgage-backed securities | | 663,441 | | | 659,727 | | Total debt securities available-for-sale | | $ | 1,876,031 | | | $ | 1,863,041 | |
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Schedule of gross unrealized losses and fair value by investment category and age |
The following table summarizes gross unrealized losses and fair value by investment category and age. At December 31, 2021, the Company’s available-for-sale securities portfolio consisted of 706 securities, 282 of which were in an unrealized loss position. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 months or Longer | | Total | (Dollars in thousands) | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | December 31, 2021 | | | | | | | | | | | | | U.S. Treasury and Federal agencies securities | | $ | 789,536 | | | $ | (10,728) | | | $ | 84,191 | | | $ | (2,290) | | | $ | 873,727 | | | $ | (13,018) | | U.S. States and political subdivisions securities | | 39,585 | | | (980) | | | 4,875 | | | (149) | | | 44,460 | | | (1,129) | | Mortgage-backed securities - Federal agencies | | 454,413 | | | (7,312) | | | 35,232 | | | (1,147) | | | 489,645 | | | (8,459) | | Corporate debt securities | | — | | | — | | | — | | | — | | | — | | | — | | Foreign government securities | | 598 | | | (2) | | | — | | | — | | | 598 | | | (2) | | Total debt securities available-for-sale | | $ | 1,284,132 | | | $ | (19,022) | | | $ | 124,298 | | | $ | (3,586) | | | $ | 1,408,430 | | | $ | (22,608) | | December 31, 2020 | | | | | | | | | | | | | U.S. Treasury and Federal agencies securities | | $ | 136,534 | | | $ | (234) | | | $ | — | | | $ | — | | | $ | 136,534 | | | $ | (234) | | U.S. States and political subdivisions securities | | 6,391 | | | (30) | | | 199 | | | (1) | | | 6,590 | | | (31) | | Mortgage-backed securities - Federal agencies | | 67,736 | | | (187) | | | 3,274 | | | (9) | | | 71,010 | | | (196) | | Corporate debt securities | | — | | | — | | | — | | | — | | | — | | | — | | Foreign government securities | | 200 | | | — | | | — | | | — | | | 200 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total debt securities available-for-sale | | $ | 210,861 | | | $ | (451) | | | $ | 3,473 | | | $ | (10) | | | $ | 214,334 | | | $ | (461) | |
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Schedule of gross realized gains and losses from securities available-for-sale portfolio |
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. | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | 2021 | | 2020 | | 2019 | Gross realized gains | | $ | 221 | | | $ | 285 | | | $ | — | | Gross realized losses | | (901) | | | (6) | | | — | | Net realized (losses) gains | | $ | (680) | | | $ | 279 | | | $ | — | |
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