INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

The amortized cost and estimated fair values of investments available-for-sale at the dates indicated are presented in the following table:


	March 31, 2021								December 31, 2020
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. treasuries and government agencies	$	47,641	$	447	$	(2)	$	48,086	$	42,750	$	549	$	(2)	$	43,297
State and municipal	362,815		7,926		(4,709)		366,032		377,108		13,470		(211)		390,367
Mortgage-backed and asset-backed	1,001,475		15,222		(10,518)		1,006,179		881,201		24,078		(847)		904,432
Corporate debt	7,000		583		—		7,583		9,100		825		—		9,925



Total investments available-for-sale	$	1,418,931	$	24,178	$	(15,229)	$	1,427,880	$	1,310,159	$	38,922	$	(1,060)	$	1,348,021

Schedule of Unrealized Loss on Investments

Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in an unrealized loss position at the dates indicated are presented in the following tables:


	March 31, 2021
	Number of Securities	Less Than 12 Months				12 Months or More				Total
(Dollars in thousands)		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. treasuries and government agencies	1	$	4,972	$	2	$	—	$	—	$	4,972	$	2
State and municipal	43	115,530		4,709		—		—		115,530		4,709
Mortgage-backed and asset-backed	46	373,235		10,509		4,968		9		378,203		10,518

Total	90	$	493,737	$	15,220	$	4,968	$	9	$	498,705	$	15,229


	December 31, 2020
	Number of Securities	Less Than 12 Months				12 Months or More				Total
(Dollars in thousands)		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. treasuries and government agencies	2	$	25,369	$	2	$	—	$	—	$	25,369	$	2
State and municipal	8	22,753		211		—		—		22,753		211
Mortgage-backed and asset-backed	24	44,746		154		76,879		693		121,625		847

Total	34	$	92,868	$	367	$	76,879	$	693	$	169,747	$	1,060

Estimated fair values of debt securities available-for-sale by contractual maturity


	March 31, 2021				December 31, 2020
(In thousands)	Fair Value		Amortized Cost		Fair Value		Amortized Cost
U.S. treasuries and government agencies:
One year or less	$	36,904	$	36,744	$	33,963	$	33,833
One to five years	11,182		10,897		9,334		8,917
Five to ten years	—		—		—		—
After ten years	—		—		—		—
State and municipal:
One year or less	13,175		13,098		16,581		16,458
One to five years	38,077		36,965		44,910		43,857
Five to ten years	49,417		47,569		59,059		56,130
After ten years	265,363		265,183		269,817		260,663
Mortgage-backed and asset-backed:
One year or less	1,923		1,905		1		1
One to five years	20,180		19,822		21,637		21,229
Five to ten years	67,401		66,718		74,142		72,481
After ten years	916,675		913,030		808,652		787,490
Corporate debt:
One year or less	—		—		—		—
One to five years	—		—		2,318		2,100
Five to ten years	7,583		7,000		7,607		7,000
After ten years	—		—		—		—





Total available-for-sale debt securities	$	1,427,880	$	1,418,931	$	1,348,021	$	1,310,159

Other Equity Securities

Other equity securities at the dates indicated are presented in the following table:


(In thousands)	March 31, 2021		December 31, 2020
Federal Reserve Bank stock	$	34,028	$	38,650
Federal Home Loan Bank of Atlanta stock	10,142		26,433
Marketable equity securities	677		677
Total equity securities	$	44,847	$	65,760