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Securities (Tables)
9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale The amortized cost and fair value of securities available-for-sale and held-to-maturity at September 30, 2022 and December 31, 2021 are summarized as follows (in thousands):
 Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
September 30, 2022:    
Securities available-for-sale:    
U.S. Treasury securities$210,655 $— $4,655 $206,000 
U.S. Government agency securities443,579 — 36,641 406,938 
Mortgage-backed securities1,518,231 231 188,934 1,329,528 
State and municipal securities1,478,698 4,270 133,384 1,349,584 
Asset-backed securities164,901 — 16,260 148,641 
Corporate notes and other109,331 65 7,486 101,910 
 $3,925,395 $4,566 $387,360 $3,542,601 
Securities held-to-maturity:    
U.S. Treasury securities$92,837 $— $6,897 $85,940 
U.S. Government agency securities354,118 — 28,181 325,937 
Mortgage-backed securities451,854 — 49,642 402,212 
State and municipal securities1,854,612 26 316,607 1,538,031 
Asset-backed securities172,752 — 16,563 156,189 
Corporate notes and other13,851 — 1,190 12,661 
 $2,940,024 $26 $419,080 $2,520,970 
Allowance for credit losses - securities held-to-maturity(1,607)
Securities held-to-maturity, net of allowance for credit losses$2,938,417 
December 31, 2021:    
Securities available-for-sale:    
U.S. Treasury securities$194,490 $— $881 $193,609 
U.S. Government agency securities634,611 2,359 4,961 632,009 
Mortgage-backed securities1,908,675 29,874 18,310 1,920,239 
State and municipal securities1,774,119 52,961 3,243 1,823,837 
Asset-backed securities232,294 60 2,785 229,569 
Corporate notes and other114,355 3,082 2,506 114,931 
 $4,858,544 $88,336 32,686 $4,914,194 
Securities held-to-maturity:    
U.S. Government agency securities11,920 — 37 11,883 
Mortgage-backed securities 106,555 86 196 106,445 
State and municipal securities 1,037,644 32,966 889 1,069,721 
$1,156,119 $33,052 $1,122 $1,188,049 
Allowance for credit losses - securities held-to-maturity(161)
Securities held-to-maturity, net of allowance for credit losses$1,155,958 
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities as of September 30, 2022 by contractual maturity is shown below. Actual maturities may differ from contractual maturities of mortgage- and asset-backed securities since the mortgages and assets underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories in the following summary (in thousands):
 Available-for-saleHeld-to-maturity
September 30, 2022:Amortized
Cost
Fair
Value
Amortized
 Cost
Fair
Value
Due in one year or less$15,616 $15,574 $1,986 $1,965 
Due in one year to five years187,720 189,083 377,940 348,130 
Due in five years to ten years349,217 321,759 84,549 78,621 
Due after ten years1,689,710 1,538,016 1,850,943 1,533,853 
Mortgage-backed securities1,518,231 1,329,528 451,854 402,212 
Asset-backed securities164,901 148,641 172,752 156,189 
 $3,925,395 $3,542,601 $2,940,024 $2,520,970 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
At September 30, 2022 and December 31, 2021, the following available-for-sale securities had unrealized losses. The table below classifies these investments according to the term of the unrealized losses of less than twelve months or twelve months or longer (in thousands):

 Investments with an Unrealized Loss of
less than 12 months
Investments with an Unrealized Loss of
12 months or longer
Total Investments with an
Unrealized Loss
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized
Losses
At September 30, 2022      
U.S. Treasury securities$196,001 $4,653 $9,998 $$205,999 $4,655 
U.S. Government agency securities267,400 17,991 139,538 18,650 406,938 36,641 
Mortgage-backed securities659,467 57,377 661,931 131,557 1,321,398 188,934 
State and municipal securities1,096,601 117,016 35,582 16,368 1,132,183 133,384 
Asset-backed securities59,323 4,955 89,319 11,305 148,642 16,260 
Corporate notes68,901 6,040 21,009 1,446 89,910 7,486 
Total temporarily-impaired securities$2,347,693 $208,032 $957,377 $179,328 $3,305,070 $387,360 
At December 31, 2021      
U.S. Treasury securities$178,610 $881 $— $— $178,610 $881 
U.S. Government agency securities353,951 2,987 54,266 1,974 408,217 4,961 
Mortgage-backed securities744,996 11,663 178,956 6,647 923,952 18,310 
State and municipal securities309,605 2,198 57,270 1,045 366,875 3,243 
Asset-backed securities198,349 2,595 6,513 190 204,862 2,785 
Corporate notes14,991 554 20,270 1,952 35,261 2,506 
Total temporarily-impaired securities$1,800,502 $20,878 $317,275 $11,808 $2,117,777 $32,686