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Investments (Tables)
6 Months Ended
Jun. 30, 2021
Investments [Abstract]  
Aggregate Values And Unrealized Gains And Losses Of Investment Securities
The amortized cost and fair value of investment securities at June 30, 2021 and December 31, 2020, were as follows:
June 30, 2021
(Dollars in thousands)
Amortized cost(1)
Gross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
Government agency$824,216 $4,981 $3,747 $825,450 
Residential mortgage-backed securities4,770,205 29,375 14,324 4,785,256 
Commercial mortgage-backed securities1,144,024 12,702 8,196 1,148,530 
Corporate bonds597,300 24,764 217 621,847 
Total investment securities available for sale$7,335,745 $71,822 $26,484 $7,381,083 
Investment in marketable equity securities84,297 34,415 172 118,540 
Investment securities held to maturity
Residential mortgage-backed securities 2,208,496 6,567 12,189 2,202,874 
Commercial mortgage-backed securities 1,184,101 525 12,422 1,172,204 
Other2,007 — — 2,007 
Total investment securities held to maturity3,394,604 7,092 24,611 3,377,085 
Total investment securities$10,814,646 $113,329 $51,267 $10,876,708 
December 31, 2020
(Dollars in thousands)
Amortized cost(1)
Gross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
U.S. Treasury$499,832 $101 $— $499,933 
Government agency706,241 723 5,573 701,391 
Residential mortgage-backed securities4,369,130 70,283 1,310 4,438,103 
Commercial mortgage-backed securities745,892 25,645 — 771,537 
Corporate bonds590,870 14,437 2,028 603,279 
Total investment securities available for sale$6,911,965 $111,189 $8,911 $7,014,243 
Investment in marketable equity securities84,837 8,654 1,811 91,680 
Investment securities held to maturity
Residential mortgage-backed securities 1,877,692 17,689 — 1,895,381 
Commercial mortgage-backed securities 937,034 3,884 56 940,862 
Other2,256 — — 2,256 
Total investment securities held to maturity2,816,982 21,573 56 2,838,499 
Total investment securities$9,813,784 $141,416 $10,778 $9,944,422 
(1)Amortized cost includes any recorded ACL.
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. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date.
 June 30, 2021December 31, 2020
(Dollars in thousands)Amortized costFair
value
Amortized costFair
value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less$1,213 $1,219 $500,846 $500,954 
One through five years86,917 89,483 72,565 73,881 
Five through 10 years500,186 521,486 508,320 519,570 
Over 10 years8,984 9,659 8,971 8,807 
Government agency824,216 825,450 706,241 701,391 
Residential mortgage-backed securities4,770,205 4,785,256 4,369,130 4,438,103 
Commercial mortgage-backed securities1,144,024 1,148,530 745,892 771,537 
Total investment securities available for sale$7,335,745 $7,381,083 $6,911,965 $7,014,243 
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less1,258 1,258 1,507 1,507 
One through five years749 749 749 749 
Residential mortgage-backed securities 2,208,496 2,202,874 1,877,692 1,895,381 
Commercial mortgage-backed securities 1,184,101 1,172,204 937,034 940,862 
Total investment securities held to maturity$3,394,604 $3,377,085 $2,816,982 $2,838,499 
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 six months ended June 30, 2021 and 2020:
Three months ended June 30Six months ended June 30
(Dollars in thousands)2021202020212020
Gross realized gains on sales of investment securities available for sale$15,844 $13,752 $25,051 $34,226 
Gross realized losses on sales of investment securities available for sale(14)— (14)(679)
Net realized gains on sales of investment securities available for sale$15,830 $13,752 $25,037 $33,547 
Marketable Securities Gains (Losses)
The following table provides the realized and unrealized gains and losses on marketable equity securities for the three and six months ended June 30, 2021 and 2020:
Three months ended June 30Six months ended June 30
(Dollars in thousands)2021202020212020
Marketable equity securities gains, net$11,654 $64,570 $27,665 $13,162 
Less net gains recognized on marketable equity securities sold— 36,993 263 37,316 
Unrealized gains (losses) recognized on marketable equity securities held$11,654 $27,577 $27,402 $(24,154)
Investment Securities With Unrealized Losses
The following table provides information regarding securities with unrealized losses as of June 30, 2021 and December 31, 2020:
June 30, 2021
 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$301,934 $3,040 $124,577 $707 $426,511 $3,747 
Residential mortgage-backed securities1,849,194 14,305 2,068 19 1,851,262 14,324 
Commercial mortgage-backed securities648,803 8,196 — — 648,803 8,196 
Corporate bonds2,502 — 14,268 217 16,770 217 
Total$2,802,433 $25,541 $140,913 $943 $2,943,346 $26,484 
December 31, 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$268,622 $3,197 $328,777 $2,376 $597,399 $5,573 
Residential mortgage-backed securities433,816 1,241 23,064 69 456,880 1,310 
Corporate bonds57,715 2,028 — — 57,715 2,028 
Total$760,153 $6,466 $351,841 $2,445 $1,111,994 $8,911