XML 36 R25.htm IDEA: XBRL DOCUMENT

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

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 are as follows:


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

		(Dollars in Thousands)
Other securities		$	4,400		$	—		$	—		$	4,400		$	4,400
Total investment securities		$	4,400		$	—		$	—		$	4,400		$	4,400


		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		$	5,147,065		$	3,720		$	(538,479)		$	4,612,306		$	4,612,306
Obligations of states and political subdivisions			159,169			717			(2,562)			157,324			157,324
Total investment securities		$	5,306,234		$	4,437		$	(541,041)		$	4,769,630		$	4,769,630

(1)	Included in the carrying value of residential mortgage-backed securities are $945,465 of mortgage-backed securities issued by Ginnie Mae and $3,666,841 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, 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
					Gross			Gross			Estimated
		Amortized			unrealized			unrealized			fair			Carrying
		cost			gains			losses			value			value⁽¹⁾

		(Dollars in Thousands)
Residential mortgage-backed securities		$	5,169,813		$	9,541		$	(519,255)			4,660,099			4,660,099
Obligations of states and political subdivisions			161,001			1,602			(361)			162,242			162,242
Total investment securities		$	5,330,814		$	11,143		$	(519,616)		$	4,822,341		$	4,822,341

(1)	Included in the carrying value of residential mortgage-backed securities are $959,421 of mortgage-backed securities issued by Ginnie Mae and $3,700,678 of mortgage-backed securities issued by Fannie Mae and Freddie Mac.

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		$	2,200		$	2,200		$	—		$	—
Due after one year through five years			2,200			2,200			—			—
Due after five years through ten years			—			—			1,455			1,444
Due after ten years			—			—			157,714			155,880
Residential mortgage-backed securities			—			—			5,147,065			4,612,306
Total investment securities		$	4,400		$	4,400		$	5,306,234		$	4,769,630

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


		Three Months Ended
		March 31, 2024
		(Dollars in Thousands)


Net losses recognized during the period on equity securities		$
Less: Net gains and (losses) recognized during the period on equity securities sold during the period				(57)

Unrealized losses recognized during the reporting period on equity securities still held at the reporting date		$		(57)


		Three Months Ended
		March 31, 2023
		(Dollars in Thousands)


Net gains recognized during the period on equity securities		$		34
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		$		34