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Investments (Tables)
9 Months Ended
Sep. 30, 2020
Investments [Abstract]  
Aggregate Values And Unrealized Gains And Losses Of Investment Securities
The amortized cost and fair value of investment securities at September 30, 2020 and December 31, 2019, were as follows:
September 30, 2020
(Dollars in thousands)CostGross
unrealized
gains
Gross unrealized
losses
Allowance for credit lossesFair
value
Investment securities available for sale
U.S. Treasury$654,588 $174 $— $— $654,762 
Government agency659,260 642 4,961 — 654,941 
Residential mortgage-backed securities5,968,192 101,788 312 — 6,069,668 
Commercial mortgage-backed securities1,058,640 32,004 434 — 1,090,210 
Corporate bonds543,868 9,132 2,793 — 550,207 
Total investment securities available for sale$8,884,548 $143,740 $8,500 $— $9,019,788 
Investment in marketable equity securities100,408 3,353 10,687 93,074 
Investment securities held to maturity
Residential mortgage-backed securities 614,489 12,905 — — 627,394 
Commercial mortgage-backed securities 130,987 650 35 131,602 
Other2,256 — — — 2,256 
Total investment securities held to maturity747,732 13,555 35 — 761,252 
Total investment securities$9,732,688 $160,648 $19,222 $— $9,874,114 
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.
 September 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$655,609 $655,779 $406,325 $406,927 
One through five years71,262 72,446 24,496 24,971 
Five through 10 years456,620 461,847 185,209 187,868 
Over 10 years14,965 14,897 109,872 110,026 
Government agency659,260 654,941 684,085 682,772 
Residential mortgage-backed securities5,968,192 6,069,668 5,269,060 5,267,090 
Commercial mortgage-backed securities1,058,640 1,090,210 373,105 380,020 
Total investment securities available for sale$8,884,548 $9,019,788 $7,052,152 $7,059,674 
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less1,507 1,507 30,746 30,746 
One through five years749 749 250 250 
Residential mortgage-backed securities 614,489 627,394 — — 
Commercial mortgage-backed securities 130,987 131,602 — — 
Total investment securities held to maturity$747,732 $761,252 $30,996 $30,996 
Available-for-sale Securities
The following table provides the gross realized gains and losses on the sales of investment securities available for sale for the three and nine months ended September 30, 2020 and 2019:
Three months ended September 30Nine months ended September 30
(Dollars in thousands)2020201920202019
Gross realized gains on sales of investment securities available for sale$21,425 $1,326 $55,651 $7,045 
Gross realized losses on sales of investment securities available for sale— 190 679 190 
Net realized gains on sales of investment securities available for sale$21,425 $1,136 $54,972 $6,855 
Marketable Securities Gains (Losses)
The following table provides the realized and unrealized gains and losses on marketable equity securities for the three and nine months ended September 30, 2020 and 2019:
Three months ended September 30Nine months ended September 30
(Dollars in thousands)2020201920202019
Marketable equity securities (losses) gains, net$(2,701)$(967)$10,461 $13,505 
Less net gains recognized on marketable equity securities sold2,568 714 39,884 3,029 
Unrealized gains (losses) recognized on marketable equity securities held$(5,269)$(1,681)$(29,423)$10,476 
Investment Securities With Unrealized Losses
The following table provides information regarding securities with unrealized losses as of September 30, 2020 and December 31, 2019:
September 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$187,167 $2,570 $338,169 $2,391 $525,336 $4,961 
Residential mortgage-backed securities161,578 259 23,717 53 185,295 312 
Commercial mortgage-backed securities56,703 434 — — 56,703 434 
Corporate bonds81,825 2,738 4,744 55 86,569 2,793 
Total$487,273 $6,001 $366,630 $2,499 $853,903 $8,500 
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