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INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Unrealized Gain (Loss) on Investments
The amortized cost and estimated fair values of investments available-for-sale at the dates indicated are presented in the following table:
 September 30, 2021December 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$47,477 $260 $(8)$47,729 $42,750 $549 $(2)$43,297 
State and municipal325,384 5,486 (3,077)327,793 377,108 13,470 (211)390,367 
Mortgage-backed and asset-backed1,039,159 12,712 (5,247)1,046,624 881,201 24,078 (847)904,432 
Corporate debt7,000 409  7,409 9,100 825 — 9,925 
Total investments available-for-sale$1,419,020 $18,867 $(8,332)$1,429,555 $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:
 September 30, 2021
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies2 $10,967 $8 $ $ $10,967 $8 
State and municipal36 90,013 2,169 14,643 908 104,656 3,077 
Mortgage-backed and asset-backed60 446,119 4,789 15,604 458 461,723 5,247 
Total98 $547,099 $6,966 $30,247 $1,366 $577,346 $8,332 

 December 31, 2020
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies$25,369 $$— $— $25,369 $
State and municipal22,753 211 — — 22,753 211 
Mortgage-backed and asset-backed24 44,746 154 76,879 693 121,625 847 
Total34 $92,868 $367 $76,879 $693 $169,747 $1,060 
Estimated fair values of debt securities available-for-sale by contractual maturity
The estimated fair values and amortized costs of debt securities available-for-sale by contractual maturity at the dates indicated are provided in the following table. The Company has allocated mortgage-backed securities into the four maturity groupings reflected in the following tables using the expected average life of the individual securities based on statistics provided by independent third party industry sources. Expected maturities will differ from contractual maturities as borrowers may have the right to prepay obligations with or without prepayment penalties.

September 30, 2021December 31, 2020
(In thousands)Fair ValueAmortized CostFair ValueAmortized Cost
U.S. treasuries and government agencies:
One year or less$39,647 $39,559 $33,963 $33,833 
One to five years8,082 7,918 9,334 8,917 
Five to ten years  — — 
After ten years  — — 
State and municipal:
One year or less14,173 14,009 16,581 16,458 
One to five years25,081 24,229 44,910 43,857 
Five to ten years43,958 43,207 59,059 56,130 
After ten years244,581 243,939 269,817 260,663 
Mortgage-backed and asset-backed:
One year or less7,975 7,916 
One to five years15,344 15,063 21,637 21,229 
Five to ten years319,947 319,621 74,142 72,481 
After ten years703,358 696,559 808,652 787,490 
Corporate debt:
One year or less  — — 
One to five years  2,318 2,100 
Five to ten years7,409 7,000 7,607 7,000 
After ten years  — — 
Total available-for-sale debt securities$1,429,555 $1,419,020 $1,348,021 $1,310,159 
Other Equity Securities
Other equity securities at the dates indicated are presented in the following table:
(In thousands)September 30, 2021December 31, 2020
Federal Reserve Bank stock$34,028 $38,650 
Federal Home Loan Bank of Atlanta stock6,392 26,433 
Marketable equity securities677 677 
Total equity securities$41,097 $65,760