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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Values of Investments Securities
The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:
June 30, 2020
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesEstimated
Fair
Value
Debt Securities Available for Sale
Obligations of U.S. government agencies$414,494  $20,320  $—  $—  $434,814  
Obligations of states and political subdivisions104,811  4,835  —  —  109,646  
Corporate bonds2,444  126  —  —  2,570  
Asset backed securities465,746  37  (16,533) —  449,250  
Total debt securities available for sale$987,495  $25,318  $(16,533) $—  $996,280  
June 30, 2020
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		Allowance for Credit Losses
Debt Securities Held to Maturity
Obligations of U.S. government agencies$324,976  $16,596  $—  $341,572  $—  
Obligations of states and political subdivisions12,189  418  —  12,607  —  
Total debt securities held to maturity$337,165  $17,014  $—  $354,179  $—  


December 31, 2019
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Debt Securities Available for Sale
Obligations of U.S. government agencies$466,139  $7,261  $(420) $472,980  
Obligations of states and political subdivisions106,373  3,229  (1) 109,601  
Corporate bonds2,430  102  —  2,532  
Asset backed securities371,809  129  (6,913) 365,025  
Total debt securities available for sale$946,751  $10,721  $(7,334) $950,138  
Debt Securities Held to Maturity
Obligations of U.S. government agencies361,785  6,072  (480) 367,377  
Obligations of states and political subdivisions13,821  327  —  14,148  
Total debt securities held to maturity$375,606  $6,399  $(480) $381,525  
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
As of June 30, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows:
Debt SecuritiesAvailable for SaleHeld to Maturity
(in thousands)Amortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due in one year$600  $600  $1,287  $1,289  
Due after one year through five years17,981  18,690  —  —  
Due after five years through ten years114,403  113,718  21,156  22,231  
Due after ten years854,511  863,272  314,722  330,659  
Totals$987,495  $996,280  $337,165  $354,179  
Gross Unrealized Losses on Investment Securities Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
June 30, 2020:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Asset backed securities$153,086  $(2,742) $291,893  $(13,791) $444,979  $(16,533) 

December 31, 2019:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies$36,709  $(309) $23,852  $(111) $60,561  $(420) 
Obligations of states and political subdivisions778  (1) —  —  778  (1) 
Asset backed securities237,463  (4,535) 99,981  (2,378) 337,444  (6,913) 
Total debt securities available for sale$274,950  $(4,845) $123,833  $(2,489) $398,783  $(7,334) 
Debt Securities Held to Maturity
Obligations of U.S. government agencies18,813  (142) 62,952  (338) 81,765  (480) 
Amortized Cost of Debt Securities Held-to-Maturity The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:
June 30, 2020December 31, 2019
AAA/AA/ABBB/BB/BAAA/AA/ABBB/BB/B
(In thousands)(In thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$324,976  $—  $361,785  $—  
Obligations of states and political subdivisions11,496  693  13,136  685  
Total debt securities held to maturity$336,472  $693  $374,921  $685