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Securities (Tables)
6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities Available-for-Sale
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of June 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$20,992  $207  $—  $21,199  $33,939  $137  $(1) $34,075  
U.S. agency securities640,253  4,166  (1,372) 643,047  249,502  758  (1,836) 248,424  
Collateralized mortgage obligations
("CMOs")
1,624,609  49,059  (1,539) 1,672,129  1,547,805  14,893  (5,027) 1,557,671  
Other mortgage-backed securities
("MBSs")
695,218  20,159  (237) 715,140  678,804  7,728  (1,848) 684,684  
Municipal securities229,414  10,410  (21) 239,803  228,632  5,898  (99) 234,431  
Corporate debt securities 143,639  2,367  (1,462) 144,544  112,797  1,791  (487) 114,101  
Total securities available-for-sale$3,354,125  $86,368  $(4,631) $3,435,862  $2,851,479  $31,205  $(9,298) $2,873,386  
Securities Held-to-Maturity       
Municipal securities$19,848  $48  $—  $19,896  $21,997  $—  $(763) $21,234  
Allowance for securities held-to-
  maturity(1)
(220) $(220) 
Total securities held-to-maturity,
net
$19,628  $48  $—  $19,676  
Equity Securities$43,954  $42,136  
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Securities Held-to-Maturity
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of June 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$20,992  $207  $—  $21,199  $33,939  $137  $(1) $34,075  
U.S. agency securities640,253  4,166  (1,372) 643,047  249,502  758  (1,836) 248,424  
Collateralized mortgage obligations
("CMOs")
1,624,609  49,059  (1,539) 1,672,129  1,547,805  14,893  (5,027) 1,557,671  
Other mortgage-backed securities
("MBSs")
695,218  20,159  (237) 715,140  678,804  7,728  (1,848) 684,684  
Municipal securities229,414  10,410  (21) 239,803  228,632  5,898  (99) 234,431  
Corporate debt securities 143,639  2,367  (1,462) 144,544  112,797  1,791  (487) 114,101  
Total securities available-for-sale$3,354,125  $86,368  $(4,631) $3,435,862  $2,851,479  $31,205  $(9,298) $2,873,386  
Securities Held-to-Maturity       
Municipal securities$19,848  $48  $—  $19,896  $21,997  $—  $(763) $21,234  
Allowance for securities held-to-
  maturity(1)
(220) $(220) 
Total securities held-to-maturity,
net
$19,628  $48  $—  $19,676  
Equity Securities$43,954  $42,136  
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Equity Securities
A summary of the Company's securities portfolio by category and maturity is presented in the following tables.
Securities Portfolio
(Dollar amounts in thousands)
 As of June 30, 2020As of December 31, 2019
 Amortized CostGross UnrealizedFair
Value
Amortized CostGross UnrealizedFair
Value
 GainsLossesGainsLosses
Securities Available-for-Sale      
U.S. treasury securities$20,992  $207  $—  $21,199  $33,939  $137  $(1) $34,075  
U.S. agency securities640,253  4,166  (1,372) 643,047  249,502  758  (1,836) 248,424  
Collateralized mortgage obligations
("CMOs")
1,624,609  49,059  (1,539) 1,672,129  1,547,805  14,893  (5,027) 1,557,671  
Other mortgage-backed securities
("MBSs")
695,218  20,159  (237) 715,140  678,804  7,728  (1,848) 684,684  
Municipal securities229,414  10,410  (21) 239,803  228,632  5,898  (99) 234,431  
Corporate debt securities 143,639  2,367  (1,462) 144,544  112,797  1,791  (487) 114,101  
Total securities available-for-sale$3,354,125  $86,368  $(4,631) $3,435,862  $2,851,479  $31,205  $(9,298) $2,873,386  
Securities Held-to-Maturity       
Municipal securities$19,848  $48  $—  $19,896  $21,997  $—  $(763) $21,234  
Allowance for securities held-to-
  maturity(1)
(220) $(220) 
Total securities held-to-maturity,
net
$19,628  $48  $—  $19,676  
Equity Securities$43,954  $42,136  
(1)The allowance for securities held-to-maturity was established upon adoption of CECL on January 1, 2020.
Remaining Contractual Maturity of Securities
Remaining Contractual Maturity of Securities
(Dollar amounts in thousands)
 As of June 30, 2020
 Available-for-SaleHeld-to-Maturity
 Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
One year or less$270,623  $274,363  $8,070  $8,089  
After one year to five years185,159  187,718  5,452  5,465  
After five years to ten years578,516  586,512  3,315  3,323  
After ten years—  —  2,791  2,799  
Securities that do not have a single contractual maturity date2,319,827  2,387,269  —  —  
Total$3,354,125  $3,435,862  $19,628  $19,676  
Securities in an Unrealized Loss Position
The following table presents the aggregate amount of unrealized losses and the aggregate related fair values of securities with unrealized losses as of June 30, 2020 and December 31, 2019.
Securities in an Unrealized Loss Position
(Dollar amounts in thousands)
  Less Than 12 Months12 Months or LongerTotal
 Number of
Securities
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
As of June 30, 2020      
Securities Available-for-Sale
U.S. agency securities23  $73,659  $1,149  $13,927  $223  $87,586  $1,372  
CMOs41  139,578  1,379  33,967  160  173,545  1,539  
MBSs14  64,778  223  3,805  14  68,583  237  
Municipal securities 1,745  21  —  —  1,745  21  
Corporate debt securities11  39,949  154  38,199  1,308  78,148  1,462  
Total90  $319,709  $2,926  $89,898  $1,705  $409,607  $4,631  
As of December 31, 2019       
Securities Available-for-Sale
U.S. treasury securities $4,966  $ $—  $—  $4,966  $ 
U.S. agency securities52  97,729  1,200  49,387  636  147,116  1,836  
CMOs148  187,470  2,177  412,083  2,850  599,553  5,027  
MBSs59  66,340  996  121,861  852  188,201  1,848  
Municipal securities16  9,384  89  3,104  10  12,488  99  
Corporate debt securities 9,719  281  21,955  206  31,674  487  
Total286  $375,608  $4,744  $608,390  $4,554  $983,998  $9,298