XML 38 R28.htm IDEA: XBRL DOCUMENT v3.22.2.2

INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 2022:

						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					$	39,313					$	0					$	(4,911)					$	34,402
Securities of U.S. government agencies and corporations						0						0						0						0						80,032						0						(13,723)						66,309
Mortgage-backed securities - residential						0						0						0						0						688,513						0						(102,221)						586,292
Mortgage-backed securities - commercial						36,714						0						(3,758)						32,956						731,619						0						(46,965)						684,654
Collateralized mortgage obligations						9,692						0						(792)						8,900						550,209						110						(60,471)						489,848
Obligations of state and other political subdivisions						8,167						39						(334)						7,872						971,655						393						(138,949)						833,099
Asset-backed securities						0						0						0						0						760,915						157						(55,299)						705,773
Other securities						31,250						0						(2,054)						29,196						137,014						25						(6,063)						130,976
Total						$	85,823					$	39					$	(6,938)					$	78,924					$	3,959,270					$	685					$	(428,602)					$	3,531,353

The following is a summary of HTM and AFS investment securities as of December 31, 2021:

						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					$	34,961					$	4					$	(189)					$	34,776
Securities of U.S. government agencies and corporations						0						0						0						0						78,998						248						(129)						79,117
Mortgage-backed securities - residential						0						0						0						0						728,050						6,635						(10,548)						724,137
Mortgage-backed securities - commercial						46,362						651						0						47,013						729,948						4,294						(2,352)						731,890
Collateralized mortgage obligations						11,882						221						0						12,103						696,258						7,979						(6,497)						697,740
Obligations of state and other political subdivisions						8,926						915						0						9,841						1,058,735						35,591						(8,594)						1,085,732
Asset-backed securities						0						0						0						0						720,638						1,521						(2,578)						719,581
Other securities						31,250						176						(485)						30,941						133,001						2,114						(242)						134,873
Total						$	98,420					$	1,963					$	(485)					$	99,898					$	4,180,589					$	58,386					$	(31,129)					$	4,207,846

Summary of Investment Securities by Estimated Maturity

The following table provides a summary of investment securities by contractual maturity as of September 30, 2022, 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
By Contractual Maturity:
Due in one year or less						$	0					$	0					$	13,484					$	13,425
Due after one year through five years						1,088						1,052						106,451						103,590
Due after five years through ten years						36,362						34,202						306,244						268,998
Due after ten years						1,967						1,814						801,835						678,773
Mortgage-backed securities - residential						0						0						688,513						586,292
Mortgage-backed securities - commercial						36,714						32,956						731,619						684,654
Collateralized mortgage obligations						9,692						8,900						550,209						489,848
Asset-backed securities						0						0						760,915						705,773
Total						$	85,823					$	78,924					$	3,959,270					$	3,531,353

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 ACL has not been recorded, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:

						September 30, 2022
						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						$	13,018					$	(1,343)					$	21,384					$	(3,568)					$	34,402					$	(4,911)
Securities of U.S. Government agencies and corporations						66,309						(13,723)						0						0						66,309						(13,723)
Mortgage-backed securities - residential						208,158						(26,128)						367,289						(76,093)						575,447						(102,221)
Mortgage-backed securities - commercial						613,089						(32,931)						99,521						(17,792)						712,610						(50,723)
Collateralized mortgage obligations						269,501						(18,727)						228,192						(42,536)						497,693						(61,263)
Obligations of state and other political subdivisions						492,728						(69,208)						271,666						(70,075)						764,394						(139,283)
Asset-backed securities						558,218						(37,812)						128,087						(17,487)						686,305						(55,299)
Other securities						117,913						(5,706)						27,089						(2,411)						145,002						(8,117)
Total						$	2,338,934					$	(205,578)					$	1,143,228					$	(229,962)					$	3,482,162					$	(435,540)

						December 31, 2021
						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						$	24,755					$	(190)					$	0					$	0					$	24,755					$	(190)
Securities of U.S. Government agencies and corporations						17,382						(128)						0						0						17,382						(128)
Mortgage-backed securities - residential						459,098						(8,375)						78,090						(2,173)						537,188						(10,548)
Mortgage-backed securities - commercial						205,520						(2,149)						13,818						(203)						219,338						(2,352)
Collateralized mortgage obligations						369,318						(6,110)						12,485						(387)						381,803						(6,497)
Obligations of state and other political subdivisions						380,735						(7,543)						55,568						(1,051)						436,303						(8,594)
Asset-backed securities						482,118						(2,578)						0						0						482,118						(2,578)
Other securities						31,896						(354)						11,877						(373)						43,773						(727)
Total						$	1,970,822					$	(27,427)					$	171,838					$	(4,187)					$	2,142,660					$	(31,614)

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

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

X

- Definition

Tabular disclosure of unrealized gains and losses on investments.

+ References

No definition available.

+ Details

Name:	us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration