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INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of Held-To-Maturity and Available-For-Sale Investment Securities
The following is a summary of HTM and AFS investment securities as of June 30, 2023:
  
Held-to-maturityAvailable-for-sale
(Dollars in thousands)Amortized
cost
Unrecognized gainUnrecognized lossFair
value
Amortized
cost
Unrealized
gain
Unrealized
loss
Fair
value
U.S. Treasuries$$$$$37,327 $$(4,480)$32,847 
Securities of U.S. government agencies and corporations81,080 (13,213)67,867 
Mortgage-backed securities - residential 720,755 91 (95,822)625,024 
Mortgage-backed securities - commercial 34,151 (4,837)29,314 639,464 (47,869)591,595 
Collateralized mortgage obligations8,818 (947)7,871 506,674 31 (64,521)442,184 
Obligations of state and other political subdivisions8,153 83 (334)7,902 827,645 1,601 (120,731)708,515 
Asset-backed securities710,251 (53,080)657,171 
Other securities31,250 (3,938)27,312 136,882 (12,681)124,201 
Total$82,372 $83 $(10,056)$72,399 $3,660,078 $1,723 $(412,397)$3,249,404 

The following is a summary of HTM and AFS investment securities as of December 31, 2022:
  
Held-to-maturityAvailable-for-sale
(Dollars in thousands)Amortized
cost
Unrecognized gainUnrecognized
loss
Fair
value
Amortized
cost
Unrealized
gain
Unrealized
loss
Fair
value
U.S. Treasuries$$$$$37,312 $$(4,616)$32,696 
Securities of U.S. government agencies and corporations80,382 (13,914)66,468 
Mortgage-backed securities - residential 747,478 47 (97,462)650,063 
Mortgage-backed securities - commercial 35,363 (4,114)31,249 676,934 (47,374)629,562 
Collateralized mortgage obligations9,280 (827)8,453 538,970 181 (61,439)477,712 
Obligations of state and other political subdivisions8,128 105 (201)8,032 832,066 565 (124,168)708,463 
Asset-backed securities772,261 39 (60,975)711,325 
Other securities31,250 (2,499)28,751 142,015 (8,656)133,359 
Total$84,021 $105 $(7,641)$76,485 $3,827,418 $834 $(418,604)$3,409,648 
Summary of Investment Securities by Estimated Maturity
The following table provides a summary of investment securities by contractual maturity as of June 30, 2023, except for residential and commercial mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, which are shown as single totals due to the unpredictability of the timing in principal repayments.
 Held-to-maturityAvailable-for-sale
(Dollars in thousands)Amortized
cost
Fair
value
Amortized
cost
Fair
value
By Contractual Maturity:
Due in one year or less$$$8,597 $8,498 
Due after one year through five years4,129 4,156 125,209 115,469 
Due after five years through ten years33,485 29,540 271,267 236,710 
Due after ten years1,789 1,518 677,861 572,753 
Mortgage-backed securities - residential 720,755 625,024 
Mortgage-backed securities - commercial 34,151 29,314 639,464 591,595 
Collateralized mortgage obligations8,818 7,871 506,674 442,184 
Asset-backed securities710,251 657,171 
Total$82,372 $72,399 $3,660,078 $3,249,404 
Age of Gross Unrealized Losses and Associated Fair Value by Investment Category
The following tables provide the fair value and gross unrealized losses of AFS investment securities in an unrealized loss position for which an ACL has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:

 June 30, 2023
 Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
U.S. Treasuries$2,388 $(45)$30,459 $(4,435)$32,847 $(4,480)
Securities of U.S. Government agencies and corporations67,867 (13,213)67,867 (13,213)
Mortgage-backed securities - residential 128,696 (5,219)475,280 (90,603)603,976 (95,822)
Mortgage-backed securities - commercial 38,384 (1,170)553,211 (46,699)591,595 (47,869)
Collateralized mortgage obligations62,687 (3,421)370,635 (61,100)433,322 (64,521)
Obligations of state and other political subdivisions117,623 (4,769)530,508 (115,962)648,131 (120,731)
Asset-backed securities40,229 (826)611,943 (52,254)652,172 (53,080)
Other securities37,062 (1,437)87,138 (11,244)124,200 (12,681)
Total$427,069 $(16,887)$2,727,041 $(395,510)$3,154,110 $(412,397)

 December 31, 2022
 Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
U.S. Treasuries$2,383 $(46)$30,313 $(4,570)$32,696 $(4,616)
Securities of U.S. Government agencies and corporations66,468 (13,914)66,468 (13,914)
Mortgage-backed securities - residential195,972 (10,413)443,415 (87,049)639,387 (97,462)
Mortgage-backed securities - commercial440,207 (18,823)175,530 (28,551)615,737 (47,374)
Collateralized mortgage obligations199,138 (12,453)269,242 (48,986)468,380 (61,439)
Obligations of state and other political subdivisions295,913 (31,196)368,673 (92,972)664,586 (124,168)
Asset-backed securities250,946 (9,410)422,090 (51,565)673,036 (60,975)
Other securities118,262 (6,865)9,959 (1,791)128,221 (8,656)
Total$1,502,821 $(89,206)$1,785,690 $(329,398)$3,288,511 $(418,604)
The following tables provide the fair value and gross unrealized losses of HTM investment securities in an unrealized loss position for which an ACL has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:
June 30, 2023
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
U.S. Treasuries$$$$$$
Securities of U.S. Government agencies and corporations
Mortgage-backed securities - residential
Mortgage-backed securities - commercial29,314 (4,837)29,314 (4,837)
Collateralized mortgage obligations7,871 (947)7,871 (947)
Obligations of state and other political subdivisions3,926 (63)1,518 (271)5,444 (334)
Asset-backed securities
Other securities27,312 (3,938)27,312 (3,938)
Total$3,926 $(63)$66,015 $(9,993)$69,941 $(10,056)

December 31, 2022
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
U.S. Treasuries$$$$$$
Securities of U.S. Government agencies and corporations
Mortgage-backed securities - residential
Mortgage-backed securities - commercial17,656 (2,197)13,593 (1,917)31,249 (4,114)
Collateralized mortgage obligations6,317 (606)2,136 (221)8,453 (827)
Obligations of state and other political subdivisions5,160 (201)5,160 (201)
Asset-backed securities
Other securities7,081 (418)21,670 (2,081)28,751 (2,499)
Total$36,214 $(3,422)$37,399 $(4,219)$73,613 $(7,641)