XML 36 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Investments (Tables)
6 Months Ended
Jun. 30, 2020
Investments [Abstract]  
Aggregate Values And Unrealized Gains And Losses Of Investment Securities
The amortized cost and fair value of investment securities at June 30, 2020 and December 31, 2019, were as follows:
June 30, 2020
(Dollars in thousands)CostGross
unrealized
gains
Gross unrealized
losses
Allowance for credit lossesFair
value
Investment securities available for sale
U.S. Treasury$754,350  $236  $—  $—  $754,586  
Government agency549,673  292  4,256  —  545,709  
Residential mortgage-backed securities5,671,151  119,935  694  —  5,790,392  
Commercial mortgage-backed securities1,047,601  32,221  —  —  1,079,822  
Corporate bonds449,623  4,387  5,237  —  448,773  
Total investment securities available for sale$8,472,398  $157,071  $10,187  $—  $8,619,282  
Investment in marketable equity securities116,322  6,297  8,303  114,316  
Investment securities held to maturity
Residential mortgage-backed securities 693,143  16,196  —  —  709,339  
Commercial mortgage-backed securities 78,729  251  —  78,980  
Other3,006  —  —  —  3,006  
Total investment securities held to maturity774,878  16,447  —  —  791,325  
Total investment securities$9,363,598  $179,815  $18,490  $—  $9,524,923  
December 31, 2019
(Dollars in thousands)CostGross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
U.S. Treasury$409,397  $602  $—  $409,999  
Government agency684,085  928  2,241  682,772  
Residential mortgage-backed securities5,269,060  13,417  15,387  5,267,090  
Commercial mortgage-backed securities373,105  6,974  59  380,020  
Corporate bonds198,278  3,420  132  201,566  
State, county and municipal118,227  —  —  118,227  
Total investment securities available for sale$7,052,152  $25,341  $17,819  $7,059,674  
Investment in marketable equity securities59,262  23,304  233  82,333  
Investment securities held to maturity
Other30,996  —  —  30,996  
Total investment securities held to maturity30,996  —  —  30,996  
Total investment securities$7,142,410  $48,645  $18,052  $7,173,003  
Investment Securities Maturity Information
The following table provides the amortized cost and fair value by contractual maturity for investment securities available for sale and held to maturity. Expected maturities will differ from contractual maturities on certain securities because issuers and borrowers of underlying collateral may have the right to call or prepay obligations with or without prepayment penalties.
 June 30, 2020December 31, 2019
(Dollars in thousands)CostFair
value
CostFair
value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less$754,350  $754,586  $406,325  $406,927  
One through five years51,589  51,887  24,496  24,971  
Five through 10 years369,075  368,281  185,209  187,868  
Over 10 years28,959  28,605  109,872  110,026  
Government agency549,673  545,709  684,085  682,772  
Residential mortgage-backed securities5,671,151  5,790,392  5,269,060  5,267,090  
Commercial mortgage-backed securities1,047,601  1,079,822  373,105  380,020  
Total investment securities available for sale$8,472,398  $8,619,282  $7,052,152  $7,059,674  
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less2,257  2,257  30,746  30,746  
One through five years749  749  250  250  
Residential mortgage-backed securities 693,143  709,339  —  —  
Commercial mortgage-backed securities 78,729  78,980  —  —  
Total investment securities held to maturity$774,878  $791,325  $30,996  $30,996  
Marketable Securities Gains (Losses)
The following table provides the realized and unrealized gains and losses on marketable equity securities for the six months ended June 30, 2020 and 2019:
Three months ended June 30Six months ended June 30
(Dollars in thousands)2020201920202019
Marketable equity securities gains, net$64,570  $3,144  $13,162  $14,472  
Less net gains recognized on marketable equity securities sold36,993  2,271  37,316  2,315  
Unrealized gains (losses) recognized on marketable equity securities held$27,577  $873  $(24,154) $12,157  
Investment Securities With Unrealized Losses
The following table provides information regarding securities with unrealized losses as of June 30, 2020 and December 31, 2019:
June 30, 2020
 Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$447,983  $3,709  $58,806  $547  $506,789  $4,256  
Residential mortgage-backed securities172,628  302  149,170  392  321,798  694  
Corporate bonds112,172  5,120  9,451  117  121,623  5,237  
Total$732,783  $9,131  $217,427  $1,056  $950,210  $10,187  
December 31, 2019
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$347,081  $1,827  $63,947  $414  $411,028  $2,241  
Residential mortgage-backed securities2,387,293  14,016  264,257  1,371  2,651,550  15,387  
Commercial mortgage-backed securities35,926  59  —  —  35,926  59  
Corporate bonds7,714  123  4,749   12,463  132  
Total$2,778,014  $16,025  $332,953  $1,794  $3,110,967  $17,819