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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Approximate Fair Value of Investment Securities The amortized cost and fair value of investment securities as of September 30, 2021 and December 31, 2020 are summarized in the tables below:
 
September 30, 2021 (1)
(amounts in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale debt securities:
Asset-backed securities$225,182 $400 $(125)$225,457 
Agency-guaranteed residential mortgage-backed securities 9,924 — (258)9,666 
Agency-guaranteed commercial mortgage-backed securities 2,184 10 — 2,194 
Agency-guaranteed residential collateralized mortgage obligations102,110 174 (90)102,194 
Agency-guaranteed commercial collateralized mortgage obligations143,858 56 (2,106)141,808 
Collateralized loan obligations315,501 110 (109)315,502 
Commercial mortgage-backed securities28,035 53 — 28,088 
Corporate notes (2)
437,179 4,260 (547)440,892 
Private label collateralized mortgage obligations588,017 601 (1,377)587,241 
State and political subdivision debt securities (3)
8,539 116 — 8,655 
Available for sale debt securities$1,860,529 $5,780 $(4,612)1,861,697 
Equity securities (4)
5,000 
Total investment securities, at fair value$1,866,697 
 
December 31, 2020 (1)
(amounts in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Available for sale debt securities:
Asset-backed securities$372,640 $4,515 $(10)$377,145 
U.S. government agencies securities20,000 34 — 20,034 
Agency-guaranteed residential mortgage-backed securities 61,178 1,913 — 63,091 
Agency-guaranteed residential collateralized mortgage obligations139,985 916 (60)140,841 
Agency-guaranteed commercial collateralized mortgage obligations20,965 — (39)20,926 
Collateralized loan obligations32,367 — — 32,367 
Corporate notes (2)
372,764 24,144 (164)396,744 
Private label collateralized mortgage obligations136,943 423 (374)136,992 
State and political subdivision debt securities (3)
17,346 945 — 18,291 
Available for sale debt securities$1,174,188 $32,890 $(647)1,206,431 
Equity securities (4)
3,854 
Total investment securities, at fair value$1,210,285 
(1)Accrued interest on AFS debt securities totaled $6.3 million and $4.2 million at September 30, 2021 and December 31, 2020, respectively, and is included in accrued interest receivable on the consolidated balance sheet.
(2)Includes corporate securities issued by domestic bank holding companies.
(3)Includes both taxable and non-taxable municipal securities.
(4)Includes perpetual preferred stock issued by a domestic bank without a readily determinable fair value at September 30, 2021 and equity securities issued by a foreign entity with readily determinable fair value at December 31, 2020. No impairments or measurement adjustments have been recorded on the perpetual preferred stock since acquisition.
Summary of Available-for-Sale Debt Securities by Stated Maturity The following table shows debt securities by stated maturity. Debt securities backed by mortgages and other assets have expected maturities that differ from contractual maturities because borrowers have the right to call or prepay and, therefore, these debt securities are classified separately with no specific maturity date:
 September 30, 2021
(amounts in thousands)Amortized
Cost		Fair
Value
Due in one year or less$4,932 $5,022 
Due after one year through five years280,813 282,050 
Due after five years through ten years156,973 159,475 
Due after ten years3,000 3,000 
Asset-backed securities225,182 225,457 
Collateralized loan obligations315,501 315,502 
Commercial mortgage-backed securities28,035 28,088 
Agency-guaranteed residential mortgage-backed securities9,924 9,666 
Agency-guaranteed commercial mortgage-backed securities2,184 2,194 
Agency-guaranteed residential collateralized mortgage obligations102,110 102,194 
Agency-guaranteed commercial collateralized mortgage obligations143,858 141,808 
Private label collateralized mortgage obligations588,017 587,241 
Total debt securities$1,860,529 $1,861,697 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value Gross unrealized losses and fair value of Customers' AFS debt securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2021 were as follows:
 September 30, 2021
 Less Than 12 Months12 Months or MoreTotal
(amounts in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Available for sale debt securities:
Asset-backed securities$21,800 $(125)$— $— $21,800 $(125)
Agency-guaranteed residential mortgage-backed securities 9,666 (258)— — 9,666 (258)
Agency-guaranteed commercial mortgage-backed securities — — — — — — 
Agency-guaranteed residential collateralized mortgage obligations25,548 (90)— — 25,548 (90)
Agency-guaranteed commercial collateralized mortgage obligations121,156 (2,106)— — 121,156 (2,106)
Collateralized loan obligations71,508 (109)— — 71,508 (109)
Corporate notes 98,662 (504)1,957 (43)100,619 (547)
Private label collateralized mortgage obligations138,669 (1,377)— — 138,669 (1,377)
Total$487,009 $(4,569)$1,957 $(43)$488,966 $(4,612)