XML 35 R25.htm IDEA: XBRL DOCUMENT

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments (Tables)

9 Months Ended

Sep. 30, 2023

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments

Amortized cost and estimated fair value by type of investment security

The amortized cost and estimated fair value by type of investment security at September 30, 2023 are as follows:


		Held to Maturity
					Gross			Gross
		Amortized			unrealized			unrealized			Estimated			Carrying
		cost			gains			losses			fair value			value

		(Dollars in Thousands)
Other securities		$	3,400		$	—		$	—		$	3,400		$	3,400
Total investment securities		$	3,400		$	—		$	—		$	3,400		$	3,400


		Available for Sale Debt Securities
					Gross			Gross
		Amortized			unrealized			unrealized			Estimated			Carrying
		cost			gains			losses			fair value			value⁽¹⁾

		(Dollars in Thousands)
Residential mortgage-backed securities		$	5,227,139		$	—		$	(681,539)		$	4,545,600		$	4,545,600
Obligations of states and political subdivisions			161,118			—			(14,780)			146,338			146,338
Total investment securities		$	5,388,257		$	—		$	(696,319)		$	4,691,938		$	4,691,938

(1)	Included in the carrying value of residential mortgage-backed securities are $890,723 of mortgage-backed securities issued by Ginnie Mae and $3,654,877 of mortgage-backed securities issued by Fannie Mae and Freddie Mac.

The amortized cost and estimated fair value by type of investment security at December 31, 2022 are as follows:


		Held to Maturity
					Gross			Gross
		Amortized			unrealized			unrealized			Estimated			Carrying
		cost			gains			losses			fair value			value

		(Dollars in Thousands)
Other securities		$	3,400		$	—		$	—		$	3,400		$	3,400
Total investment securities		$	3,400		$	—		$	—		$	3,400		$	3,400


		Available for Sale
					Gross			Gross			Estimated
		Amortized			unrealized			unrealized			fair			Carrying
		cost			gains			losses			value			value⁽¹⁾

		(Dollars in Thousands)
U.S. Treasury securities		$	49,752		$	—		$	(359)		$	49,393		$	49,393
Residential mortgage-backed securities			4,805,735			3,145			(599,668)			4,209,212			4,209,212
Obligations of states and political subdivisions			163,509			927			(5,245)			159,191			159,191
Total investment securities		$	5,018,996		$	4,072		$	(605,272)		$	4,417,796		$	4,417,796

(1)	Included in the carrying value of residential mortgage-backed securities are $681,121 of mortgage-backed securities issued by Ginnie Mae and $3,528,091 of mortgage-backed securities issued by Fannie Mae and Freddie.

Amortized cost and fair value of investment securities, by contractual maturity


		Held to Maturity						Available for Sale
		Amortized			Estimated			Amortized			Estimated
		Cost			fair value			Cost			fair value

		(Dollars in Thousands)
Due in one year or less		$	2,075		$	2,075		$	—		$	—
Due after one year through five years			1,325			1,325			—			—
Due after five years through ten years			—			—			440			431
Due after ten years			—			—			160,678			145,907
Residential mortgage-backed securities			—			—			5,227,139			4,545,600
Total investment securities		$	3,400		$	3,400		$	5,388,257		$	4,691,938

Summary of unrealized and realized gains and losses recognized in net income on equity securities


		Three Months Ended
		September 30, 2023
		(Dollars in Thousands)


Net losses recognized during the period on equity securities		$		(142)
Less: Net gains and (losses) recognized during the period on equity securities sold during the period				—

Unrealized gains recognized during the reporting period on equity securities still held at the reporting date		$		(142)


		Three Months Ended
		September 30, 2022
		(Dollars in Thousands)


Net losses recognized during the period on equity securities		$		(230)
Less: Net gains and (losses) recognized during the period on equity securities sold during the period				—

Unrealized losses recognized during the reporting period on equity securities still held at the reporting date		$		(230)


		Nine Months Ended
		September 30, 2023
		(Dollars in Thousands)

Net losses recognized during the period on equity securities		$		(200)
Less: Net gains and (losses) recognized during the period on equity securities sold during the period				—

Unrealized losses recognized during the reporting period on equity securities still held at the reporting date		$		(200)


		Nine Months Ended
		September 30, 2022
		(Dollars in Thousands)

Net losses recognized during the period on equity securities		$		(728)
Less: Net gains and (losses) recognized during the period on equity securities sold during the period				—

Unrealized losses recognized during the reporting period on equity securities still held at the reporting date		$		(728)