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Securities (Tables)
12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of securities available for sale
The amortized cost and fair value of securities available for sale were as follows as of the dates presented:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2021
U.S. Treasury securities$3,007 $$— $3,010 
Obligations of states and political subdivisions153,847 5,532 (269)159,110 
Residential mortgage backed securities:
Government agency mortgage backed securities967,497 7,854 (6,816)968,535 
Government agency collateralized mortgage obligations1,008,514 457 (20,371)988,600 
Commercial mortgage backed securities:
Government agency mortgage backed securities14,717 365 (1)15,081 
Government agency collateralized mortgage obligations216,859 812 (3,419)214,252 
Other debt securities36,515 1,097 (148)37,464 
$2,400,956 $16,120 $(31,024)$2,386,052 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2020
U.S. Treasury securities$7,047 $32 $— $7,079 
Obligations of other U.S. Government agencies and corporations1,003 — 1,009 
Obligations of states and political subdivisions291,231 14,015 (45)305,201 
Residential mortgage backed securities:
Government agency mortgage backed securities581,105 21,564 (23)602,646 
Government agency collateralized mortgage obligations218,373 1,946 (51)220,268 
Commercial mortgage backed securities:
Government agency mortgage backed securities29,053 1,235 (1)30,287 
Government agency collateralized mortgage obligations99,377 2,992 (21)102,348 
Trust preferred securities12,013 — (3,001)9,012 
Other debt securities62,771 2,909 (73)65,607 
$1,301,973 $44,699 $(3,215)$1,343,457 
The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2021
Obligations of states and political subdivisions$267,641 $333 $(685)$267,289 
Residential mortgage backed securities
Government agency mortgage backed securities60,507 (198)60,310 
Government agency collateralized mortgage obligations24,832 — (92)24,740 
Commercial mortgage backed securities
Government agency mortgage backed securities1,855 — — 1,855 
Government agency collateralized mortgage obligations39,505 — (117)39,388 
Other debt securities22,049 — (79)21,970 
$416,389 $334 $(1,171)$415,552 
Allowance for credit losses - held to maturity securities(32)
Held-to-maturity securities, net of allowance for credit losses$416,357 
Schedule of realized gain (loss)
Available for sale securities sold were as follows for the periods presented:
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2021
Obligations of states and political subdivisions$47 $49 $
Residential mortgage backed securities:
Government agency mortgage backed securities145,572 149,473 3,901 
Government agency collateralized mortgage obligations12,362 12,562 200 
Trust preferred securities12,021 9,961 (2,060)
Other debt securities4,283 4,410 127 
$174,285 $176,455 $2,170 
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2020
Obligations of states and political subdivisions$2,696 $2,561 $(135)
Residential mortgage backed securities:
Government agency mortgage backed securities16,093 16,294 201 
Government agency collateralized mortgage obligations26,071 26,051 (20)
$44,860 $44,906 $46 
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2019
Obligations of states and political subdivisions$11,799 $11,813 $14 
Residential mortgage backed securities:
Government agency mortgage backed securities72,556 71,944 (612)
Government agency collateralized mortgage obligations122,692 120,892 (1,800)
Commercial mortgage backed securities:
Government agency collateralized mortgage obligations4,838 4,720 (118)
Other debt securities252 257 
Other equity securities— 2,859 2,859 
$212,137 $212,485 $348 
Gross realized gains and gross realized losses on sales of securities available for sale were as follows for the periods presented:
 Year Ended December 31,
 202120202019
Gross gains on sales of securities available for sale$4,322 $230 $2,979 
Gross losses on sales of securities available for sale(2,152)(184)(2,631)
Gains on sales of securities available for sale, net$2,170 $46 $348 
Amortized cost and fair value of securities by contractual maturity
The amortized cost and fair value of securities at December 31, 2021 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.
 Held to MaturityAvailable for Sale
 Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due within one year$530 $529 $8,523 $8,579 
Due after one year through five years2,064 2,064 41,782 43,383 
Due after five years through ten years18,368 18,403 53,269 56,068 
Due after ten years246,679 246,291 77,798 79,610 
Residential mortgage backed securities:
Government agency mortgage backed securities60,507 60,310 967,497 968,535 
Government agency collateralized mortgage obligations24,832 24,740 1,008,514 988,600 
Commercial mortgage backed securities:
Government agency mortgage backed securities1,855 1,855 14,717 15,081 
Government agency collateralized mortgage obligations39,505 39,388 216,859 214,252 
Other debt securities22,049 21,972 11,997 11,944 
$416,389 $415,552 $2,400,956 $2,386,052 
Gross unrealized losses and fair value by investment category
The following tables present the gross unrealized losses and fair value of investment securities, aggregated by investment category and the length of time the investments have been in a continuous unrealized loss position, as of the dates presented:
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
Available for Sale:
December 31, 2021
Obligations of states and political subdivisions8$34,303 $(216)3$3,892 $(53)11$38,195 $(269)
Residential mortgage backed securities:
Government agency mortgage backed securities41727,546 (6,312)112,305 (504)42739,851 (6,816)
Government agency collateralized mortgage obligations49966,126 (20,371)— — 49966,126 (20,371)
Commercial mortgage backed securities:
Government agency mortgage backed securities11,791 (1)1432 — 22,223 (1)
Government agency collateralized mortgage obligations21160,919 (3,072)29,005 (347)23169,924 (3,419)
Other debt securities18,699 (148)— — 18,699 (148)
Total121$1,899,384 $(30,120)7$25,634 $(904)128$1,925,018 $(31,024)
December 31, 2020
Obligations of states and political subdivisions69,403 (45)— — 69,403 (45)
Residential mortgage backed securities:
Government agency mortgage backed securities219,755 (23)— — 219,755 (23)
Government agency collateralized mortgage obligations527,143 (51)— — 527,143 (51)
Commercial mortgage backed securities:
Government agency mortgage backed securities11,538 (1)1459 — 21,997 (1)
Government agency collateralized mortgage obligations314,190 (21)— — 314,190 (21)
Trust preferred securities— — 29,012 (3,001)29,012 (3,001)
Other debt securities43,330 (70)1566 (3)53,896 (73)
Total21$75,359 $(211)4$10,037 $(3,004)25$85,396 $(3,215)
 Less than 12 months 12 months or more Total
Held to Maturity:# Fair Value Unrealized Losses# Fair Value Unrealized Losses# Fair Value Unrealized Losses
December 31, 2021
Obligations of states and political subdivisions24$62,131 $(685)$— $— 24$62,131 $(685)
Residential mortgage backed securities:
Government agency mortgage backed securities5053,560 (181)15,354 (17)5158,914 (198)
Government agency collateralized mortgage obligations124,740 (92)— — 124,740 (92)
Commercial mortgage backed securities:
Government agency collateralized mortgage obligations739,388 (117)— — 739,388 (117)
Other debt securities821,972 (79)— — 821,972 (79)
Total90$201,791 $(1,154)1$5,354 $(17)91$207,145 $(1,171)