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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Held-To-Maturity and Available-For-Sale Investment Securities

The following is a summary of HTM and AFS investment securities as of December 31, 2020:

						Held-to-maturity																								Available-for-sale
(Dollars in thousands)						Amortized cost						Unrecognized gain						Unrecognized loss						Fair value						Amortized cost						Unrealized gain						Unrealized loss						Fair value
U.S. Treasuries						$	0					$	0					$	0					$	0					$	99					$	4					$	0					$	103
Securities of U.S. government agencies and corporations						0						0						0						0						60						0						0						60
Mortgage-backed securities - residential						13,990						197						0						14,187						704,482						15,938						(237)						720,183
Mortgage-backed securities - commercial						71,737						3,485						0						75,222						584,125						10,395						(3,584)						590,936
Collateralized mortgage obligations						5,799						79						0						5,878						634,418						21,148						(445)						655,121
Obligations of state and other political subdivisions						9,911						1,239						0						11,150						856,054						46,755						(291)						902,518
Asset-backed securities						0						0						0						0						478,539						4,158						(826)						481,871
Other securities						30,250						11						0						30,261						72,252						1,544						(8)						73,788
Total						$	131,687					$	5,011					$	0					$	136,698					$	3,330,029					$	99,942					$	(5,391)					$	3,424,580

The following is a summary of HTM and AFS investment securities as of December 31, 2019:

						Held-to-maturity																								Available-for-sale
(Dollars in thousands)						Amortized cost						Unrecognized gain						Unrecognized loss						Fair value						Amortized cost						Unrealized gain						Unrealized loss						Fair value
U.S. Treasuries						$	0					$	0					$	0					$	0					$	99					$	1					$	0					$	100
Securities of U.S. government agencies and corporations						0						0						0						0						156						2						0						158
Mortgage-backed securities - residential						20,818						122						(174)						20,766						421,945						9,709						(99)						431,555
Mortgage-backed securities - commercial						101,267						571						(1,225)						100,613						474,174						4,988						(2,644)						476,518
Collateralized mortgage obligations						9,763						0						(108)						9,655						769,076						16,753						(385)						785,444
Obligations of state and other political subdivisions						11,014						804						(31)						11,787						652,986						23,729						(462)						676,253
Asset-backed securities						0						0						0						0						400,081						1,414						(1,064)						400,431
Other securities						0						0						0						0						79,781						1,959						(115)						81,625
Total						$	142,862					$	1,497					$	(1,538)					$	142,821					$	2,798,298					$	58,555					$	(4,769)					$	2,852,084

Summary of Investment Securities by Estimated Maturity

The following table provides a summary of investment securities by contractual maturity as of December 31, 2020, except for residential and commercial mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, which are shown as single totals, due to the unpredictability of the timing in principal repayments:

						Held-to-maturity												Available-for-sale
(Dollars in thousands)						Amortized cost						Fair value						Amortized cost						Fair value
Due in one year or less						$	0					$	0					$	5,745					$	5,802
Due after one year through five years						0						0						62,930						64,886
Due after five years through ten years						36,084						37,205						161,307						169,692
Due after ten years						4,077						4,206						698,483						736,089
Mortgage-backed securities - residential						13,990						14,187						704,482						720,183
Mortgage-backed securities - commercial						71,737						75,222						584,125						590,936
Collateralized mortgage obligations						5,799						5,878						634,418						655,121
Asset-backed securities						0						0						478,539						481,871
Total						$	131,687					$	136,698					$	3,330,029					$	3,424,580

Age of Gross Unrealized Losses and Associated Fair Value by Investment Category

The following tables provide the fair value and gross unrealized losses on investment securities in an unrealized loss position for which an allowance for credit losses was not recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:

						December 31, 2020
						Less than 12 months												12 months or more												Total
(Dollars in thousands)						Fair value						Unrealized loss						Fair value						Unrealized loss						Fair value						Unrealized loss
U.S. Treasuries						$	0					$	0					$	0					$	0					$	0					$	0
Securities of U.S. government agencies and corporations						0						0						0						0						0						0
Mortgage-backed securities - residential						57,872						(237)						0						0						57,872						(237)
Mortgage-backed securities - commercial						169,825						(986)						48,158						(2,598)						217,983						(3,584)
Collateralized mortgage obligations						49,161						(445)						1						0						49,162						(445)
Obligations of state and other political subdivisions						60,008						(291)						0						0						60,008						(291)
Asset-backed securities						84,749						(435)						68,967						(391)						153,716						(826)
Other securities						4,992						(8)						0						0						4,992						(8)
Total						$	426,607					$	(2,402)					$	117,126					$	(2,989)					$	543,733					$	(5,391)

						December 31, 2019
						Less than 12 months												12 months or more												Total
(Dollars in thousands)						Fair value						Unrealized loss						Fair value						Unrealized loss						Fair value						Unrealized loss
U.S. Treasuries						$	0					$	0					$	0					$	0					$	0					$	0
Securities of U.S. Government agencies and corporations						0						0						0						0						0						0
Mortgage-backed securities - residential						40,190						(209)						11,063						(64)						51,253						(273)
Mortgage-backed securities - commercial						111,658						(298)						104,069						(3,571)						215,727						(3,869)
Collateralized mortgage obligations						85,248						(297)						30,628						(196)						115,876						(493)
Obligations of state and other political subdivisions						118,623						(457)						7,950						(36)						126,573						(493)
Asset-backed securities						125,889						(553)						54,963						(511)						180,852						(1,064)
Other securities						0						0						5,649						(115)						5,649						(115)
Total						$	481,608					$	(1,814)					$	214,322					$	(4,493)					$	695,930					$	(6,307)

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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 http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563

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Tabular disclosure of unrealized gains and losses on investments.

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