XML 43 R32.htm IDEA: XBRL DOCUMENT v3.19.2
Impairment of Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2019
Impairment of Investment Securities Disclosure [Abstract]  
Schedule of Unrealized Losses and Estimated Fair Values
The following table presents the gross unrealized losses and estimated fair values at June 30, 2019 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position:
 
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Commercial
$
—

 
$
—

 
$
77,946

 
$
(725
)
 
$
77,946

 
$
(725
)
Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
31,906

 
(18
)
 
468,157

 
(4,905
)
 
500,063

 
(4,923
)
Obligations of States and Political Subdivisions
—

 
—

 
514

 
(1
)
 
514

 
(1
)
Total Securities
$
31,906

 
$
(18
)
 
$
546,617

 
$
(5,631
)
 
$
578,523

 
$
(5,649
)

    
The following table presents the gross unrealized losses and estimated fair values at December 31, 2018 by investment category and time frame for which securities have been in a continuous unrealized loss position:
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
2,289

 
$
(41
)
 
$
5,028

 
$
(140
)
 
$
7,317

 
$
(181
)
Mortgage-Backed Securities - Commercial
95,826

 
(925
)
 
75,959

 
(3,505
)
 
171,785

 
(4,430
)
Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
156,732

 
(1,856
)
 
626,003

 
(20,789
)
 
782,735

 
(22,645
)
Mortgage-Backed Securities – Commercial
—

 
—

 
12,901

 
(258
)
 
12,901

 
(258
)
Obligation of States and Political Subdivisions
8,591

 
(85
)
 
9,338

 
(234
)
 
17,929

 
(319
)
Corporate Securities
14,769

 
(214
)
 
3,993

 
(7
)
 
18,762

 
(221
)
Total Securities
$
278,207

 
$
(3,121
)
 
$
733,222

 
$
(24,933
)
 
$
1,011,429

 
$
(28,054
)
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities held and not Intended to be Sold The following table provides a cumulative roll forward of credit losses recognized in earnings for the trust preferred securities:
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(dollars in thousands)
Balance, beginning (a)
$
—

 
$
9,759

 
$
—

 
$
12,208

Credit losses on debt securities for which other-than-temporary impairment was not previously recognized
—

 
—

 
—

 
—

Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized
—

 
—

 
—

 
—

Increases in cash flows expected to be collected, recognized over the remaining life of the security (b)
—

 
(76
)
 
—

 
(223
)
Reduction for debt securities sold during the period
—

 
(9,164
)
 
—

 
(9,164
)
Reduction for debt securities called during the period
—

 
(519
)
 
—

 
(2,821
)
Balance, ending
$
—

 
$
—

 
$
—

 
$
—

 
(a)
The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods.
(b)
Represents the increase in cash flows recognized in interest income during the period.