XML 61 R40.htm IDEA: XBRL DOCUMENT
v3.25.0.1

INVESTMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Held-To-Maturity and Available-For-Sale Investment Securities | The following is table a summary of HTM and AFS investment securities as of December 31, 2024:
|  | 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 |  |  | $ | 0 |  |  | $ | (9) |  |  | $ | 90 |
Securities of U.S. government agencies and corporations |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 83,224 |  |  | 0 |  |  | (11,546) |  |  | 71,678 |
Mortgage-backed securities - residential |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1,102,242 |  |  | 508 |  |  | (104,208) |  |  | 998,542 |
Mortgage-backed securities - commercial |  | 30,444 |  |  | 0 |  |  | (4,454) |  |  | 25,990 |  |  | 382,727 |  |  | 26 |  |  | (25,381) |  |  | 357,372 |
Collateralized mortgage obligations |  | 7,007 |  |  | 0 |  |  | (788) |  |  | 6,219 |  |  | 620,315 |  |  | 1,449 |  |  | (52,599) |  |  | 569,165 |
Obligations of state and other political subdivisions |  | 8,259 |  |  | 42 |  |  | (339) |  |  | 7,962 |  |  | 630,813 |  |  | 357 |  |  | (109,904) |  |  | 521,266 |
Asset-backed securities |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 555,484 |  |  | 998 |  |  | (22,379) |  |  | 534,103 |
Other securities |  | 31,250 |  |  | 0 |  |  | (2,432) |  |  | 28,818 |  |  | 137,748 |  |  | 120 |  |  | (6,308) |  |  | 131,560 |
Total |  | $ | 76,960 |  |  | $ | 42 |  |  | $ | (8,013) |  |  | $ | 68,989 |  |  | $ | 3,512,652 |  |  | $ | 3,458 |  |  | $ | (332,334) |  |  | $ | 3,183,776 |
The following is a summary of HTM and AFS investment securities as of December 31, 2023:
|  | 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 |  |  | $ | 34,904 |  |  | $ | 0 |  |  | $ | (3,661) |  |  | $ | 31,243 |
Securities of U.S. government agencies and corporations |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 81,790 |  |  | 0 |  |  | (12,010) |  |  | 69,780 |
Mortgage-backed securities - residential |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 744,546 |  |  | 2,034 |  |  | (85,532) |  |  | 661,048 |
Mortgage-backed securities - commercial |  | 32,926 |  |  | 0 |  |  | (4,628) |  |  | 28,298 |  |  | 543,134 |  |  | 7 |  |  | (35,911) |  |  | 507,230 |
Collateralized mortgage obligations |  | 7,970 |  |  | 0 |  |  | (539) |  |  | 7,431 |  |  | 478,744 |  |  | 181 |  |  | (60,277) |  |  | 418,648 |
Obligations of state and other political subdivisions |  | 8,175 |  |  | 130 |  |  | (215) |  |  | 8,090 |  |  | 765,223 |  |  | 1,614 |  |  | (114,320) |  |  | 652,517 |
Asset-backed securities |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 600,055 |  |  | 6 |  |  | (39,813) |  |  | 560,248 |
Other securities |  | 31,250 |  |  | 0 |  |  | (3,381) |  |  | 27,869 |  |  | 134,208 |  |  | 0 |  |  | (13,796) |  |  | 120,412 |
Total |  | $ | 80,321 |  |  | $ | 130 |  |  | $ | (8,763) |  |  | $ | 71,688 |  |  | $ | 3,382,604 |  |  | $ | 3,842 |  |  | $ | (365,320) |  |  | $ | 3,021,126 |
Summary of Investment Securities by Estimated Maturity | The following table provides a summary of investment securities by contractual maturity as of December 31, 2024, 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 |  |  | $ | 540 |  |  | $ | 544 |
Due after one year through five years |  | 5,666 |  |  | 5,675 |  |  | 115,611 |  |  | 106,955 |
Due after five years through ten years |  | 32,289 |  |  | 29,826 |  |  | 246,895 |  |  | 210,864 |
Due after ten years |  | 1,554 |  |  | 1,279 |  |  | 488,838 |  |  | 406,231 |
Mortgage-backed securities - residential |  | 0 |  |  | 0 |  |  | 1,102,242 |  |  | 998,542 |
Mortgage-backed securities - commercial |  | 30,444 |  |  | 25,990 |  |  | 382,727 |  |  | 357,372 |
Collateralized mortgage obligations |  | 7,007 |  |  | 6,219 |  |  | 620,315 |  |  | 569,165 |
Asset-backed securities |  | 0 |  |  | 0 |  |  | 555,484 |  |  | 534,103 |
Total |  | $ | 76,960 |  |  | $ | 68,989 |  |  | $ | 3,512,652 |  |  | $ | 3,183,776 |
Age of Gross Unrealized Losses and Associated Fair Value by Investment Category | The following tables provide the fair value and gross unrealized losses on AFS 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, 2024
|  | 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 |  |  | $ | 90 |  |  | $ | (9) |  |  | $ | 90 |  |  | $ | (9) |
Securities of U.S. government agencies and corporations |  | 0 |  |  | 0 |  |  | 71,678 |  |  | (11,546) |  |  | 71,678 |  |  | (11,546) |
Mortgage-backed securities - residential |  | 417,516 |  |  | (9,130) |  |  | 503,321 |  |  | (95,078) |  |  | 920,837 |  |  | (104,208) |
Mortgage-backed securities - commercial |  | 26,516 |  |  | (67) |  |  | 286,589 |  |  | (25,314) |  |  | 313,105 |  |  | (25,381) |
Collateralized mortgage obligations |  | 120,670 |  |  | (1,776) |  |  | 296,813 |  |  | (50,823) |  |  | 417,483 |  |  | (52,599) |
Obligations of state and other political subdivisions |  | 19,636 |  |  | (351) |  |  | 478,083 |  |  | (109,553) |  |  | 497,719 |  |  | (109,904) |
Asset-backed securities |  | 26,389 |  |  | (189) |  |  | 159,135 |  |  | (22,190) |  |  | 185,524 |  |  | (22,379) |
Other securities |  | 9,988 |  |  | (12) |  |  | 115,452 |  |  | (6,296) |  |  | 125,440 |  |  | (6,308) |
Total |  | $ | 620,715 |  |  | $ | (11,525) |  |  | $ | 1,911,161 |  |  | $ | (320,809) |  |  | $ | 2,531,876 |  |  | $ | (332,334) |
|  | December 31, 2023
|  | 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 |  |  | $ | 31,243 |  |  | $ | (3,661) |  |  | $ | 31,243 |  |  | $ | (3,661) |
Securities of U.S. Government agencies and corporations |  | 0 |  |  | 0 |  |  | 69,780 |  |  | (12,010) |  |  | 69,780 |  |  | (12,010) |
Mortgage-backed securities - residential |  | 31,892 |  |  | (483) |  |  | 538,863 |  |  | (85,049) |  |  | 570,755 |  |  | (85,532) |
Mortgage-backed securities - commercial |  | 1,772 |  |  | (11) |  |  | 495,451 |  |  | (35,900) |  |  | 497,223 |  |  | (35,911) |
Collateralized mortgage obligations |  | 10,699 |  |  | (157) |  |  | 393,884 |  |  | (60,120) |  |  | 404,583 |  |  | (60,277) |
Obligations of state and other political subdivisions |  | 15,155 |  |  | (132) |  |  | 562,740 |  |  | (114,188) |  |  | 577,895 |  |  | (114,320) |
Asset-backed securities |  | 6,853 |  |  | (15) |  |  | 542,029 |  |  | (39,798) |  |  | 548,882 |  |  | (39,813) |
Other securities |  | 14,605 |  |  | (396) |  |  | 105,807 |  |  | (13,400) |  |  | 120,412 |  |  | (13,796) |
Total |  | $ | 80,976 |  |  | $ | (1,194) |  |  | $ | 2,739,797 |  |  | $ | (364,126) |  |  | $ | 2,820,773 |  |  | $ | (365,320) |
The following tables provide the fair value and gross unrealized losses on HTM 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, 2024
|  | Less than 12 months |  | 12 months or more |  | Total
(Dollars in thousands) |  | Fair value |  | Unrecognized loss |  | Fair value |  | Unrecognized loss |  | Fair value |  | Unrecognized 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 |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Mortgage-backed securities - commercial |  | 0 |  |  | 0 |  |  | 25,990 |  |  | (4,454) |  |  | 25,990 |  |  | (4,454) |
Collateralized mortgage obligations |  | 0 |  |  | 0 |  |  | 6,219 |  |  | (788) |  |  | 6,219 |  |  | (788) |
Obligations of state and other political subdivisions |  | 3,111 |  |  | (33) |  |  | 2,288 |  |  | (306) |  |  | 5,399 |  |  | (339) |
Asset-backed securities |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Other securities |  | 0 |  |  | 0 |  |  | 28,818 |  |  | (2,432) |  |  | 28,818 |  |  | (2,432) |
Total |  | $ | 3,111 |  |  | $ | (33) |  |  | $ | 63,315 |  |  | $ | (7,980) |  |  | $ | 66,426 |  |  | $ | (8,013) |
|  | December 31, 2023
|  | Less than 12 months |  | 12 months or more |  | Total
(Dollars in thousands) |  | Fair value |  | Unrecognized loss |  | Fair value |  | Unrecognized loss |  | Fair value |  | Unrecognized 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 |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Mortgage-backed securities - commercial |  | 0 |  |  | 0 |  |  | 28,298 |  |  | (4,628) |  |  | 28,298 |  |  | (4,628) |
Collateralized mortgage obligations |  | 0 |  |  | 0 |  |  | 7,431 |  |  | (539) |  |  | 7,431 |  |  | (539) |
Obligations of state and other political subdivisions |  | 1,128 |  |  | (3) |  |  | 1,488 |  |  | (212) |  |  | 2,616 |  |  | (215) |
Asset-backed securities |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Other securities |  | 0 |  |  | 0 |  |  | 27,869 |  |  | (3,381) |  |  | 27,869 |  |  | (3,381) |
Total |  | $ | 1,128 |  |  | $ | (3) |  |  | $ | 65,086 |  |  | $ | (8,760) |  |  | $ | 66,214 |  |  | $ | (8,763) |

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/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 + 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