XML 55 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]  
Securities Available for Sale
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of debt securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 31, 2018
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
2,222,521

 
$
9,236

 
$
(43,467
)
 
$
2,188,290

State and municipal securities
 
579,755

 
2,328

 
(7,760
)
 
574,323

U.S. government agency and government-sponsored enterprise securities
 
408,088

 
1,235

 
(4,736
)
 
404,587

U.S. government securities
 
251

 
—

 
(3
)
 
248

Total
 
$
3,210,615

 
$
12,799

 
$
(55,966
)
 
$
3,167,448

December 31, 2017
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
1,752,236

 
$
1,815

 
$
(27,326
)
 
$
1,726,725

State and municipal securities
 
593,940

 
6,023

 
(3,959
)
 
596,004

U.S. government agency and government-sponsored enterprise securities
 
416,894

 
642

 
(2,762
)
 
414,774

U.S. government securities
 
251

 
—

 
(3
)
 
248

Total
 
$
2,763,321

 
$
8,480

 
$
(34,050
)
 
$
2,737,751
Schedule of gross realized gains and losses on sales and calls of securities available for sale [Table Text Block]
The following table provides the proceeds and both gross realized gains and losses on the sales and calls of debt securities available for sale as well as other securities gains and losses for the periods indicated:
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
 
 
(in thousands)
Proceeds from sales and calls of debt securities available for sale
 
$
32,330

 
$
30,403

 
$
124,142

 
 
 
 
 
 
 
Gross realized gains from sales of debt securities available for sale
 
$
235

 
$
111

 
$
1,181

Gross realized losses from sales of debt securities available for sale
 
(129
)
 
(122
)
 
—

Other securities losses, net (1)
 
(195
)
 
—

 
—

Investment securities gains (losses), net
 
$
(89
)
 
$
(11
)
 
$
1,181

__________
(1) Other securities losses, net includes net unrealized loss activity associated with equity securities.
Unrealized Gain (Loss) on Investments [Table Text Block]
The following table provides the unrealized gains and losses on equity securities at the reporting date:
 
 
Year Ended December 31,
 
 
2018
 
 
(in thousands)
Net gains and losses recognized during the period on equity securities
 
$
195

Less: Net gains and losses recognized during the period on equity securities sold during the period.
 
(195
)
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date.
 
$
—
Schedule of Contractual Maturities of Investment Securities Available for Sale
The scheduled contractual maturities of debt securities available for sale at December 31, 2018 are presented as follows:
 
 
December 31, 2018
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
130,592

 
$
130,241

Due after one year through five years
 
566,382

 
559,600

Due after five years through ten years
 
1,398,135

 
1,391,517

Due after ten years
 
1,115,506

 
1,086,090

Total debt securities available for sale
 
$
3,210,615

 
$
3,167,448
Schedule of Securities pledged as collateral [Table Text Block]
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
 
 
December 31,
 
 
2018
 
2017
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
276,343

 
$
245,222

Federal Reserve Bank to secure borrowings
 
52,303

 
52,917

Other securities pledged
 
138,492

 
121,244

Total securities pledged as collateral
 
$
467,138

 
$
419,383
Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses
The following tables show the gross unrealized losses and fair value of the Company’s debt securities available for sale with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 and 2017:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2018
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
154,622

 
$
(972
)
 
$
1,301,387

 
$
(42,495
)
 
$
1,456,009

 
(43,467
)
State and municipal securities
 
106,292

 
(581
)
 
280,496

 
(7,179
)
 
386,788

 
(7,760
)
U.S. government agency and government-sponsored enterprise securities
 
15,392

 
(45
)
 
291,435

 
(4,691
)
 
306,827

 
(4,736
)
U.S. government securities
 
—

 
—

 
247

 
(3
)
 
247

 
(3
)
Total
 
$
276,306

 
$
(1,598
)
 
$
1,873,565

 
$
(54,368
)
 
$
2,149,871

 
$
(55,966
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
816,678

 
$
(6,710
)
 
$
717,211

 
$
(20,616
)
 
$
1,533,889

 
$
(27,326
)
State and municipal securities
 
220,019

 
(1,723
)
 
75,172

 
(2,236
)
 
295,191

 
(3,959
)
U.S. government agency and government-sponsored enterprise securities
 
184,046

 
(1,006
)
 
155,983

 
(1,756
)
 
340,029

 
(2,762
)
U.S. government securities
 
249

 
(3
)
 
—

 
—

 
249

 
(3
)
Total
 
$
1,220,992

 
$
(9,442
)
 
$
948,366

 
$
(24,608
)
 
$
2,169,358

 
$
(34,050
)