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INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31, 2024:
  
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$$$$$34,910 $$(3,998)$30,912 
Securities of U.S. government agencies and corporations82,145 (12,761)69,384 
Mortgage-backed securities - residential 839,802 763 (98,339)742,226 
Mortgage-backed securities - commercial 32,286 (4,739)27,547 428,261 (35,560)392,701 
Collateralized mortgage obligations7,797 (662)7,135 429,785 88 (58,111)371,762 
Obligations of state and other political subdivisions8,209 71 (270)8,010 711,149 1,274 (119,217)593,206 
Asset-backed securities561,117 (32,470)528,656 
Other securities31,250 (3,092)28,158 134,211 (12,391)121,820 
Total$79,542 $71 $(8,763)$70,850 $3,221,380 $2,134 $(372,847)$2,850,667 
The following is a summary of HTM and AFS investment securities as of December 31, 2023:
  
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$$$$$34,904 $$(3,661)$31,243 
Securities of U.S. government agencies and corporations81,790 (12,010)69,780 
Mortgage-backed securities - residential 744,546 2,034 (85,532)661,048 
Mortgage-backed securities - commercial 32,926 (4,628)28,298 543,134 (35,911)507,230 
Collateralized mortgage obligations7,970 (539)7,431 478,744 181 (60,277)418,648 
Obligations of state and other political subdivisions8,175 130 (215)8,090 765,223 1,614 (114,320)652,517 
Asset-backed securities600,055 (39,813)560,248 
Other securities31,250 (3,381)27,869 134,208 (13,796)120,412 
Total$80,321 $130 $(8,763)$71,688 $3,382,604 $3,842 $(365,320)$3,021,126 
Summary of Investment Securities by Estimated Maturity
The following table provides a summary of investment securities by contractual maturity as of March 31, 2024, 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$$$10,537 $10,514 
Due after one year through five years5,048 5,077 159,964 146,109 
Due after five years through ten years32,733 29,637 225,990 193,606 
Due after ten years1,678 1,454 565,924 465,093 
Mortgage-backed securities - residential 839,802 742,226 
Mortgage-backed securities - commercial 32,286 27,547 428,261 392,701 
Collateralized mortgage obligations7,797 7,135 429,785 371,762 
Asset-backed securities561,117 528,656 
Total$79,542 $70,850 $3,221,380 $2,850,667 
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:

 March 31, 2024
 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$$$30,912 $(3,998)$30,912 $(3,998)
Securities of U.S. Government agencies and corporations69,384 (12,761)69,384 (12,761)
Mortgage-backed securities - residential 87,732 (787)566,393 (97,552)654,125 (98,339)
Mortgage-backed securities - commercial 373,651 (35,560)373,651 (35,560)
Collateralized mortgage obligations10,141 (18)325,367 (58,093)335,508 (58,111)
Obligations of state and other political subdivisions31,689 (209)510,000 (119,008)541,689 (119,217)
Asset-backed securities46,969 (204)417,895 (32,266)464,864 (32,470)
Other securities116,820 (12,391)116,820 (12,391)
Total$176,531 $(1,218)$2,410,422 $(371,629)$2,586,953 $(372,847)

 December 31, 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$$$31,243 $(3,661)$31,243 $(3,661)
Securities of U.S. Government agencies and corporations69,780 (12,010)69,780 (12,010)
Mortgage-backed securities - residential31,892 (483)538,863 (85,049)570,755 (85,532)
Mortgage-backed securities - commercial1,772 (11)495,451 (35,900)497,223 (35,911)
Collateralized mortgage obligations10,699 (157)393,884 (60,120)404,583 (60,277)
Obligations of state and other political subdivisions15,155 (132)562,740 (114,188)577,895 (114,320)
Asset-backed securities6,853 (15)542,029 (39,798)548,882 (39,813)
Other securities14,605 (396)105,807 (13,400)120,412 (13,796)
Total$80,976 $(1,194)$2,739,797 $(364,126)$2,820,773 $(365,320)
The following tables provide the fair value and gross unrealized losses of HTM investment securities in an unrealized loss position for which an ACL has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:
March 31, 2024
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
U.S. Treasuries$$$$$$
Securities of U.S. Government agencies and corporations
Mortgage-backed securities - residential
Mortgage-backed securities - commercial27,547 (4,739)27,547 (4,739)
Collateralized mortgage obligations7,135 (662)7,135 (662)
Obligations of state and other political subdivisions2,912 (33)2,580 (237)5,492 (270)
Asset-backed securities
Other securities28,158 (3,092)28,158 (3,092)
Total$2,912 $(33)$65,420 $(8,730)$68,332 $(8,763)

December 31, 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 - commercial28,298 (4,628)28,298 (4,628)
Collateralized mortgage obligations7,431 (539)7,431 (539)
Obligations of state and other political subdivisions1,128 (3)1,488 (212)2,616 (215)
Asset-backed securities
Other securities27,869 (3,381)27,869 (3,381)
Total$1,128 $(3)$65,086 $(8,760)$66,214 $(8,763)