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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Values of Investments Securities
The amortized cost and estimated fair values of investment securities classified as available for sale and held to maturity are summarized in the following tables:
December 31, 2020
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies$795,555 $17,710 $(891)$812,374 
Obligations of states and political subdivisions123,347 5,748 — 129,095 
Corporate bonds2,459 85 — 2,544 
Asset backed securities473,720 1,682 (5,151)470,251 
Total debt securities available for sale$1,395,081 $25,225 $(6,042)$1,414,264 
Debt Securities Held to Maturity
Obligations of U.S. government agencies273,667 13,774 — 287,441 
Obligations of states and political subdivisions10,896 389 — 11,285 
Total debt securities held to maturity$284,563 $14,163 $— $298,726 
December 31, 2019
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(in thousands)
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 agencies$361,785 $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
Debt SecuritiesAvailable for SaleHeld to Maturity
(In thousands)Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year$20,000 $19,994 $— $— 
Due after one year through five years193,791 194,337 993 1,135 
Due after five years through ten years157,945 159,670 18,755 19,640 
Due after ten years1,023,345 1,040,263 264,815 277,951 
Totals$1,395,081 $1,414,264 $284,563 $298,726 
Gross Unrealized Losses on Investment Securities
Gross unrealized losses on investment 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:
Less than 12 months12 months or moreTotal
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
December 31, 2020(in thousands)
Debt Securities Available for Sale
Obligations of U.S. government agencies$160,543 $(891)$— $— $160,543 $(891)
Asset backed securities51,544 (441)297,020 (4,710)348,564 (5,151)
Total debt securities available for sale$212,087 $(1,332)$297,020 $(4,710)$509,107 $(6,042)

Less than 12 months12 months or moreTotal
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
December 31, 2019(in thousands)
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 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 agencies$18,813 $(142)$62,952 $(338)$81,765 $(480)