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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2021

Investment Securities

Schedule of amortized cost and fair value of investment securities held to maturity


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
March 31, 2021:
U.S. Government agencies		$	49,988		$	—		$	(1,919)		$	48,069
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			749,291			—			(19,340)			729,951
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			99,326			—			(4,627)			94,699
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			250,708			44			(5,878)			244,874
Small Business Administration loan-backed securities			65,000			—			(1,831)			63,169
		$	1,214,313		$	44		$	(33,595)		$	1,180,762
December 31, 2020:
U.S. Government agencies		$	25,000		$	1		$	—		$	25,001
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			632,269			1,827			(1,032)			633,064
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			75,767			405			—			76,172
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			174,506			300			(91)			174,715
Small Business Administration loan-backed securities			48,000			231			—			48,231
		$	955,542		$	2,764		$	(1,123)		$	957,183

Schedule of amortized cost and fair value of investment securities available for sale


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
March 31, 2021:
U.S. Government agencies		$	25,000		$	—		$	(1,447)		$	23,553
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			1,560,744			9,607			(21,669)			1,548,682
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			682,412			14,441			(6,303)			690,550
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			581,776			7,021			(8,418)			580,379
State and municipal obligations			589,954			10,510			(4,361)			596,103
Small Business Administration loan-backed securities			439,210			2,741			(3,414)			438,537
Corporate securities			13,549			170			(33)			13,686
		$	3,892,645		$	44,490		$	(45,645)		$	3,891,490
December 31, 2020:
U.S. Government agencies		$	29,882		$	16		$	(642)		$	29,256
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			1,351,506			16,657			(1,031)			1,367,132
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			739,797			16,579			(825)			755,551
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			229,219			10,939			(50)			240,108
State and municipal obligations			502,575			17,491			(27)			520,039
Small Business Administration loan-backed securities			401,496			4,978			(1,590)			404,884
Corporate securities			13,562			140			—			13,702
		$	3,268,037		$	66,800		$	(4,165)		$	3,330,672

Schedule of amortized cost and carrying value of other investment securities



		Carrying
(Dollars in thousands)		Value
March 31, 2021:
Federal Home Loan Bank stock		$	16,283
Federal Reserve Bank stock			129,716
Investment in unconsolidated subsidiaries			4,941
Other nonmarketable investment securities			10,528
		$	161,468
December 31, 2020:
Federal Home Loan Bank stock		$	15,083
Federal Reserve Bank stock			129,871
Investment in unconsolidated subsidiaries			4,941
Other nonmarketable investment securities			10,548
		$	160,443

Schedule of amortized cost and fair value of debt and equity securities by contractual maturity


		Securities						Securities
		Held to Maturity						Available for Sale
		Amortized			Fair			Amortized			Fair
(Dollars in thousands)		Cost			Value			Cost			Value
Due in one year or less		$	—		$	—		$	6,546		$	6,581
Due after one year through five years			—			—			90,961			93,481
Due after five years through ten years			103,666			99,660			556,874			561,777
Due after ten years			1,110,647			1,081,102			3,238,264			3,229,651
		$	1,214,313		$	1,180,762		$	3,892,645		$	3,891,490

Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position


		Less Than						Twelve Months
		Twelve Months						or More
		Gross						Gross
		Unrealized			Fair			Unrealized			Fair
(Dollars in thousands)		Losses			Value			Losses			Value
March 31, 2021:
Securities Held to Maturity
U.S. Government agencies		$	1,919		$	48,069		$	—		$	—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			19,340			729,951			—			—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			4,627			94,699			—			—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			5,878			141,438			—			—
Small Business Administration loan-backed securities			1,831			63,169			—			—
		$	33,595		$	1,077,326		$	—		$	—
Securities Available for Sale
U.S. Government agencies		$	1,447		$	23,553		$	—		$	—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			21,669			987,348			—			—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			6,303			140,650			—			—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			8,418			271,699			—			—
State and municipal obligations			4,361			153,477			—			—
Small Business Administration loan-backed securities			2,225			136,824			1,189			123,335
Corporate securities			33			6,967			—			—
		$	44,456		$	1,720,518		$	1,189		$	123,335
December 31, 2020:
Securities Held to Maturity
agencies or sponsored enterprises		$	1,032		$	213,146		$	—		$	—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			91			27,445			—			—
		$	1,123		$	240,591		$	—		$	—
Securities Available for Sale
U.S. Government agencies		$	642		$	24,358		$	—		$	—
Residential mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			1,031			260,411			—			—
Residential collateralized mortgage-obligations issued by U.S. government
agencies or sponsored enterprises			825			140,333			—			—
Commercial mortgage-backed securities issued by U.S. government
agencies or sponsored enterprises			46			13,594			4			871
State and municipal obligations			27			8,620			—			—
Small Business Administration loan-backed securities			573			94,981			1,017			104,254
		$	3,144		$	542,297		$	1,021		$	105,125