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Securities (Tables)
3 Months Ended
Mar. 31, 2020
Notes Tables  
Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

The following table summarizes the Company’s portfolio of securities held-to-maturity at March 31, 2020:

Gross

Gross

Allowance

Amortized

Unrealized

Unrealized

for Credit

    

Cost

    

Fair Value

    

Gains

    

Losses

    

Losses

(In thousands)

Securities held-to-maturity:

 

  

 

  

 

  

 

  

 

  

Municipals

$

50,627

$

51,938

$

1,311

$

$

(402)

Total other securities

 

50,627

 

51,938

 

1,311

 

 

(402)

FNMA

 

7,929

 

8,953

 

1,024

 

 

Total mortgage-backed securities

 

7,929

 

8,953

 

1,024

 

 

Total

$

58,556

$

60,891

$

2,335

$

$

(402)

The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2019:

Gross

Gross

Amortized

Unrealized

Unrealized

    

Cost

    

Fair Value

    

Gains

    

Losses

(In thousands)

Securities held-to-maturity:

 

  

 

  

 

  

 

  

Municipals

$

50,954

$

53,998

$

3,044

$

Total other securities

 

50,954

 

53,998

 

3,044

 

FNMA

 

7,934

 

8,114

 

180

 

Total mortgage-backed securities

 

7,934

 

8,114

 

180

 

Total

$

58,888

$

62,112

$

3,224

$

The following table summarizes the Company’s portfolio of securities available for sale at March 31, 2020:

Gross

Gross

Amortized

Unrealized

Unrealized

    

Cost

    

Fair Value

    

Gains

    

Losses

(In thousands)

Securities available for sale:

Corporate

$

130,000

$

111,852

$

$

18,148

Municipals

 

12,743

 

12,801

 

58

 

Mutual funds

 

12,476

 

12,476

 

 

Collateralized loan obligations

 

100,361

 

87,372

 

 

12,989

Other

 

1,355

 

1,355

 

 

Total other securities

 

256,935

 

225,856

 

58

 

31,137

REMIC and CMO

 

341,170

 

348,109

 

7,329

 

390

GNMA

 

602

 

659

 

57

 

FNMA

 

99,676

 

102,224

 

2,572

 

24

FHLMC

 

37,630

 

38,564

 

934

 

Total mortgage-backed securities

 

479,078

 

489,556

 

10,892

 

414

Total securities available for sale

$

736,013

$

715,412

$

10,950

$

31,551

The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2019:

Gross

Gross

Amortized

Unrealized

Unrealized

    

Cost

    

Fair Value

    

Gains

    

Losses

(In thousands)

Securities available for sale:

Corporate

$

130,000

$

123,050

$

$

6,950

Municipals

 

12,797

 

12,916

 

119

 

Mutual funds

 

12,216

 

12,216

 

 

Collateralized loan obligations

 

100,349

 

99,137

 

 

1,212

Other

 

1,332

 

1,332

 

 

Total other securities

 

256,694

 

248,651

 

119

 

8,162

REMIC and CMO

 

348,236

 

348,989

 

2,193

 

1,440

GNMA

 

653

 

704

 

51

 

FNMA

 

104,235

 

104,882

 

1,073

 

426

FHLMC

 

68,476

 

69,274

 

871

 

73

Total mortgage-backed securities

 

521,600

 

523,849

 

4,188

 

1,939

Total securities available for sale

$

778,294

$

772,500

$

4,307

$

10,101

Investments Classified by Contractual Maturity Date [Table Text Block]

 

Amortized

Securities held-to-maturity:

    

Cost

    

Fair Value

 

(In thousands)

Due in one year or less

$

 

$

Due after ten years

50,627

51,938

Total other securities

50,627

51,938

Mortgage-backed securities

7,929

8,953

Total

$

58,556

 

$

60,891

Amortized

Securities available for sale:

    

Cost

    

Fair Value

(In thousands)

Due after one year through five years

$

20,000

$

18,276

Due after five years through ten years

 

127,923

 

109,510

Due after ten years

96,536

85,594

Total other securities

 

244,459

 

213,380

Mutual funds

 

12,476

 

12,476

Mortgage-backed securities

 

479,078

 

489,556

Total

$

736,013

$

715,412

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

At March 31, 2020

Total

Less than 12 months

12 months or more

Unrealized

Unrealized

Unrealized

    

Count

    

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

(Dollars in thousands)

Available for sale securities

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Corporate

 

16

$

111,853

$

18,148

$

9,620

$

380

$

102,233

$

17,768

Collateralized loan obligations

 

13

 

87,372

 

12,989

 

22,521

 

3,046

 

64,851

 

9,943

Total other securities

 

29

 

199,225

 

31,137

 

32,141

 

3,426

 

167,084

 

27,711

REMIC and CMO

 

12

 

67,416

 

390

 

64,541

 

371

 

2,875

 

19

FNMA

 

1

 

8,812

 

24

 

 

 

8,812

 

24

Total mortgage-backed securities

 

13

 

76,228

 

414

 

64,541

 

371

 

11,687

 

43

Total

 

42

$

275,453

$

31,551

$

96,682

$

3,797

$

178,771

$

27,754

At December 31, 2019

Total

Less than 12 months

12 months or more

Unrealized

Unrealized

Unrealized

    

Count

    

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

(Dollars in thousands)

Available for sale securities

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Corporate

 

16

$

123,050

$

6,950

$

$

$

123,050

$

6,950

Collateralized loan obligations

 

13

 

99,137

 

1,212

 

25,451

 

108

 

73,686

 

1,104

Total other securities

 

29

 

222,187

 

8,162

 

25,451

 

108

 

196,736

 

8,054

REMIC and CMO

 

23

 

120,989

 

1,440

 

102,384

 

1,117

 

18,605

 

323

GNMA

 

1

 

49

 

 

49

 

 

 

FNMA

 

8

 

67,618

 

426

 

19,073

 

138

 

48,545

 

288

FHLMC

 

1

 

30,200

 

73

 

 

 

30,200

 

73

Total mortgage-backed securities

 

33

 

218,856

 

1,939

 

121,506

 

1,255

 

97,350

 

684

Total securities available for sale

 

62

$

441,043

$

10,101

$

146,957

$

1,363

$

294,086

$

8,738

Schedule of allowance for credit losses for debt securities held-to-maturity

The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended March 31, 2020:

Mortgage-backed securities

Other securities

(In thousands)

Beginning balance

$

$

CECL adoption

340

Provision

62

Allowance for credit losses - securities

$

$

402

Schedule of Realized Gain (Loss) [Table Text Block]

For the three months ended

March 31, 

    

2020

    

2019

Gross gains from the sale of securities

$

713

$

Gross losses from the sale of securities

 

(750)

 

Net losses from the sale of securities

$

(37)

$