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Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 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 | ​ | $ | 5,251,514 | ​ | $ | 3,296 | ​ | $ | (542,387) | ​ | $ | 4,712,423 | ​ | $ | 4,712,423 | ​
Obligations of states and political subdivisions | ​ |  | 159,058 | ​ |  | 575 | ​ |  | (3,029) | ​ |  | 156,604 | ​ |  | 156,604 | ​
Total investment securities | ​ | $ | 5,410,572 | ​ | $ | 3,871 | ​ | $ | (545,416) | ​ | $ | 4,869,027 | ​ | $ | 4,869,027 | ​
(1) | Included in the carrying value of residential mortgage-backed securities are $895,457 of mortgage-backed securities issued by Ginnie Mae and $3,816,966 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 |  | $ | 1,200 |  | $ | 1,200 |  | $ | — |  | $ | — | ​
Due after one year through five years | ​ |  | 3,200 | ​ |  | 3,200 | ​ |  | — | ​ | ​ | — | ​
Due after five years through ten years | ​ |  | — | ​ |  | — | ​ |  | 1,450 | ​ |  | 1,441 | ​
Due after ten years | ​ |  | — | ​ |  | — | ​ |  | 157,608 | ​ |  | 155,163 | ​
Residential mortgage-backed securities | ​ |  | — | ​ |  | — | ​ |  | 5,251,514 | ​ |  | 4,712,423 | ​
Total investment securities | ​ | $ | 4,400 | ​ | $ | 4,400 | ​ | $ | 5,410,572 | ​ | $ | 4,869,027 | ​
Summary of unrealized and realized gains and losses recognized in net income on equity securities | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | June 30, 2024
​ | ​ | (Dollars in Thousands)
​ | ​ | ​
​ | ​ | ​ | ​ | ​
Net losses recognized during the period on equity securities |  | $ | ​ | (23)
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 | ​ | $ | ​ | (23)
​
​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | June 30, 2023
​ | ​ | (Dollars in Thousands)
​ | ​ | ​
​ | ​ | ​ | ​ | ​
Net losses recognized during the period on equity securities |  | $ | ​ | (92)
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 | ​ | $ | ​ | (92)
​ ​ ​ ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 30, 2024
​ | ​ | (Dollars in Thousands)
​ | ​ | ​
Net losses recognized during the period on equity securities |  | $ | ​ | (80)
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 | ​ | $ | ​ | (80)
​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 30, 2023
​ | ​ | (Dollars in Thousands)
​ | ​ | ​
Net losses recognized during the period on equity securities |  | $ | ​ | (58)
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 | ​ | $ | ​ | (58)
​ ​ ​ ​

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