XML 42 R32.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Investment Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule Of Investment Securities | Investment securities at September 30, 2022 and December 31, 2021, were as follows:
Debt securities AFS (In thousands) |  | Amortized Cost |  | Gross Unrealized Holding Gains |  | Gross Unrealized Holding Losses |  | Fair Value
September 30, 2022: |  |  |  |  |  |  |  |
Obligations of U.S. Treasury and other U.S. Government sponsored entities |  | $ | 39,000 |  |  | $ | — |  |  | $ | 878 |  |  | $ | 38,122 |
Obligations of states and political subdivisions |  | 424,193 |  |  | 100 |  |  | 30,375 |  |  | 393,918 |
U.S. Government sponsored entities' asset-backed securities |  | 877,435 |  |  | — |  |  | 92,572 |  |  | 784,863 |
Collateralized loan obligations |  | 535,575 |  |  | — |  |  | 26,517 |  |  | 509,058 |
Corporate debt securities |  | 17,250 |  |  | — |  |  | 1,088 |  |  | 16,162 |
Total |  | $ | 1,893,453 |  |  | $ | 100 |  |  | $ | 151,430 |  |  | $ | 1,742,123 |
Debt securities AFS (In thousands) |  | Amortized Cost |  | Gross Unrealized Holding Gains |  | Gross Unrealized Holding Losses |  | Fair Value
December 31, 2021: |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 366,933 |  |  | $ | 22,682 |  |  | $ | 24 |  |  | $ | 389,591 |
U.S. Government sponsored entities' asset-backed securities |  | 849,114 |  |  | 13,437 |  |  | 8,088 |  |  | 854,463 |
Collateralized loan obligations |  | 500,066 |  |  | 3 |  |  | 1,395 |  |  | 498,674 |
Corporate debt securities |  | 11,250 |  |  | 169 |  |  | 7 |  |  | 11,412 |
Total |  | $ | 1,727,363 |  |  | $ | 36,291 |  |  | $ | 9,514 |  |  | $ | 1,754,140 |
Schedule Of Unrealized Loss On Securities | Investment securities in an unrealized loss position at September 30, 2022, were as follows:
|  | Unrealized loss position for less than 12 months |  | Unrealized loss position for 12 months or longer |  | Total
(In thousands) |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
Debt securities AFS: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. Treasury and other U.S. Government sponsored entities |  | $ | 38,122 |  |  | $ | 878 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,122 |  |  | $ | 878 |
Obligations of states and political subdivisions |  | 369,881 |  |  | 30,375 |  |  | — |  |  | — |  |  | 369,881 |  |  | 30,375 |
U.S. Government sponsored entities' asset-backed securities |  | 548,839 |  |  | 46,623 |  |  | 236,024 |  |  | 45,949 |  |  | 784,863 |  |  | 92,572 |
Collateralized loan obligations |  | 361,935 |  |  | 19,046 |  |  | 147,123 |  |  | 7,471 |  |  | 509,058 |  |  | 26,517 |
Corporate debt securities |  | 9,162 |  |  | 1,088 |  |  | — |  |  | — |  |  | 9,162 |  |  | 1,088 |
Total |  | $ | 1,327,939 |  |  | $ | 98,010 |  |  | $ | 383,147 |  |  | $ | 53,420 |  |  | $ | 1,711,086 |  |  | $ | 151,430 |
Investment securities in an unrealized loss position at December 31, 2021, were as follows:
|  | Unrealized loss position for less than 12 months |  | Unrealized loss position for 12 months or longer |  | Total
(In thousands) |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
Debt securities AFS: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 1,834 |  |  | $ | 24 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,834 |  |  | $ | 24 |
U.S. Government sponsored entities' asset-backed securities |  | 333,653 |  |  | 4,996 |  |  | 73,431 |  |  | 3,092 |  |  | 407,084 |  |  | 8,088 |
Collateralized loan obligations |  | 429,671 |  |  | 1,395 |  |  | — |  |  | — |  |  | 429,671 |  |  | 1,395 |
Corporate debt securities |  | 2,243 |  |  | 7 |  |  | — |  |  | — |  |  | 2,243 |  |  | 7 |
Total |  | $ | 767,401 |  |  | $ | 6,422 |  |  | $ | 73,431 |  |  | $ | 3,092 |  |  | $ | 840,832 |  |  | $ | 9,514 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investments in debt securities AFS at September 30, 2022, are shown in the following table by contractual maturity, except for asset-backed securities and collateral loan obligations, which are shown as a single total, due to the unpredictability of the timing of principal repayments. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands) |  | Amortized cost |  | Fair value |  | Tax equivalent yield (1)
Debt Securities AFS |  |  |  |  |  |
Obligations of U.S. Treasury and other U.S. Government sponsored entities |  |  |  |  |  |
Due one through five years |  | $ | 39,000 |  |  | $ | 38,122 |  |  | 2.37 | %
Obligations of state and political subdivisions: |  |  |  |  |  |
Due five through ten years |  | $ | 257,514 |  |  | $ | 251,544 |  |  | 3.67 | %
Due over ten years |  | 166,679 |  |  | 142,374 |  |  | 3.20 | %
Total (1) |  | $ | 424,193 |  |  | $ | 393,918 |  |  | 3.49 | %
U.S. Government sponsored entities' asset-backed securities |  | $ | 877,435 |  |  | $ | 784,863 |  |  | 1.92 | %
Collateralized loan obligations |  | $ | 535,575 |  |  | $ | 509,058 |  |  | 4.54 | %
Corporate debt securities |  |  |  |  |  |
Due five through ten years |  | $ | 15,250 |  |  | $ | 14,393 |  |  | 3.88 | %
Due over ten years |  | $ | 2,000 |  |  | $ | 1,769 |  |  | 3.13 | %
Total |  | $ | 17,250 |  |  | $ | 16,162 |  |  | 3.79 | %

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration