XML 26 R25.htm IDEA: XBRL DOCUMENT
v3.19.3

Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Investments [Abstract] |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment securities at September 30, 2019 and December 31, 2018, were as follows:
| September 30, 2019
(Dollars in thousands) | Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 748,206 |  |  | $ | 1,114 |  |  | $ | 2 |  |  | $ | 749,318 |
Government agency | 666,029 |  |  | 1,404 |  |  | 1,812 |  |  | 665,621 |
Mortgage-backed securities | 3,329,593 |  |  | 10,369 |  |  | 7,343 |  |  | 3,332,619 |
Corporate bonds | 154,943 |  |  | 2,707 |  |  | 325 |  |  | 157,325 |
Total investment securities available for sale | 4,898,771 |  |  | 15,594 |  |  | 9,482 |  |  | 4,904,883 |
Investment in marketable equity securities | 87,588 |  |  | 29,605 |  |  | 339 |  |  | 116,854 |
Investment securities held to maturity |  |  |  |  |  |  |
Mortgage-backed securities | 2,115,141 |  |  | 71,857 |  |  | — |  |  | 2,186,998 |
Other | 30,802 |  |  | — |  |  | — |  |  | 30,802 |
Total investment securities held to maturity | 2,145,943 |  |  | 71,857 |  |  | — |  |  | 2,217,800 |
Total investment securities | $ | 7,132,302 |  |  | $ | 117,056 |  |  | $ | 9,821 |  |  | $ | 7,239,537 |
| December 31, 2018
(Dollars in thousands) | Cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |
U.S. Treasury | $ | 1,249,243 |  |  | $ | 633 |  |  | $ | 2,166 |  |  | $ | 1,247,710 |
Government agency | 257,252 |  |  | 222 |  |  | 639 |  |  | 256,835 |
Mortgage-backed securities | 2,956,793 |  |  | 5,309 |  |  | 52,763 |  |  | 2,909,339 |
Corporate bonds | 143,829 |  |  | 261 |  |  | 864 |  |  | 143,226 |
Total investment securities available for sale | 4,607,117 |  |  | 6,425 |  |  | 56,432 |  |  | 4,557,110 |
Investment in marketable equity securities | 73,809 |  |  | 19,010 |  |  | 220 |  |  | 92,599 |
Investment securities held to maturity |  |  |  |  |  |  |
Mortgage-backed securities | 2,184,653 |  |  | 17,339 |  |  | 490 |  |  | 2,201,502 |
Total investment securities | $ | 6,865,579 |  |  | $ | 42,774 |  |  | $ | 57,142 |  |  | $ | 6,851,211 |
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 borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Repayments of mortgage-backed securities and government agency securities are dependent on the repayments of the underlying loan balances. Repayments of certain corporate bonds are subject to call provisions that can be exercised by the issuer at their discretion.
| September 30, 2019 |  | December 31, 2018
(Dollars in thousands) | Cost |  | Fair value |  | Cost |  | Fair value
Investment securities available for sale |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | $ | 748,206 |  |  | $ | 749,318 |  |  | $ | 1,049,253 |  |  | $ | 1,047,380 |
One through five years | 13,364 |  |  | 13,795 |  |  | 205,526 |  |  | 205,805 |
Five through 10 years | 137,638 |  |  | 139,430 |  |  | 134,370 |  |  | 133,626 |
Over 10 years | 3,941 |  |  | 4,100 |  |  | 3,923 |  |  | 4,125 |
Government agency | 666,029 |  |  | 665,621 |  |  | 257,252 |  |  | 256,835 |
Mortgage-backed securities | 3,329,593 |  |  | 3,332,619 |  |  | 2,956,793 |  |  | 2,909,339 |
Total investment securities available for sale | $ | 4,898,771 |  |  | $ | 4,904,883 |  |  | $ | 4,607,117 |  |  | $ | 4,557,110 |
Investment securities held to maturity |  |  |  |  |  |  |
Non-amortizing securities maturing in: |  |  |  |  |  |  |
One year or less | 30,552 |  |  | 30,552 |  |  | — |  |  | — |
One through five years | 250 |  |  | 250 |  |  | — |  |  | — |
Mortgage-backed securities | 2,115,141 |  |  | 2,186,998 |  |  | 2,184,653 |  |  | 2,201,502 |
Total investment securities held to maturity | $ | 2,145,943 |  |  | $ | 2,217,800 |  |  | $ | 2,184,653 |  |  | $ | 2,201,502 |
Marketable Securities Gains (Losses) | The following table provides the realized and unrealized gains and losses on marketable equity securities for the three and nine months ended September 30, 2019 and September 30, 2018:
| Three months ended September 30 |  | Nine months ended September 30
(Dollars in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Marketable equity securities (losses) gains, net | $ | (967 | ) |  | $ | 3,854 |  |  | $ | 13,505 |  |  | $ | 9,265 |
Less net gains recognized on marketable equity securities sold | 714 |  |  | 946 |  |  | 3,029 |  |  | 1,181 |
Unrealized (losses) gains recognized on marketable equity securities held | $ | (1,681 | ) |  | $ | 2,908 |  |  | $ | 10,476 |  |  | $ | 8,084 |
Investment Securities With Unrealized Losses | The following table provides information regarding securities with unrealized losses as of September 30, 2019 and December 31, 2018:
| September 30, 2019
| Less than 12 months |  | 12 months or more |  | Total
(Dollars in thousands) | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 49,867 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 49,867 |  |  | $ | 2 |
Government agency | 323,470 |  |  | 1,471 |  |  | 66,278 |  |  | 341 |  |  | 389,748 |  |  | 1,812 |
Mortgage-backed securities | 1,413,342 |  |  | 4,165 |  |  | 477,249 |  |  | 3,178 |  |  | 1,890,591 |  |  | 7,343 |
Corporate bonds | 31,168 |  |  | 203 |  |  | 6,563 |  |  | 122 |  |  | 37,731 |  |  | 325 |
Total | $ | 1,817,847 |  |  | $ | 5,841 |  |  | $ | 550,090 |  |  | $ | 3,641 |  |  | $ | 2,367,937 |  |  | $ | 9,482 |
| December 31, 2018
| Less than 12 months |  | 12 months or more |  | Total
(Dollars in thousands) | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
Investment securities available for sale |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 248,983 |  |  | $ | 113 |  |  | $ | 848,622 |  |  | $ | 2,053 |  |  | $ | 1,097,605 |  |  | $ | 2,166 |
Government agency | 115,273 |  |  | 601 |  |  | 2,310 |  |  | 38 |  |  | 117,583 |  |  | 639 |
Mortgage-backed securities | 262,204 |  |  | 2,387 |  |  | 1,940,695 |  |  | 50,376 |  |  | 2,202,899 |  |  | 52,763 |
Corporate bonds | 79,066 |  |  | 842 |  |  | 5,000 |  |  | 22 |  |  | 84,066 |  |  | 864 |
Total | $ | 705,526 |  |  | $ | 3,943 |  |  | $ | 2,796,627 |  |  | $ | 52,489 |  |  | $ | 3,502,153 |  |  | $ | 56,432 |
Investment securities held to maturity |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | $ | 5,111 |  |  | $ | 181 |  |  | $ | 10,131 |  |  | $ | 309 |  |  | $ | 15,242 |  |  | $ | 490 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration