XML 48 R34.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Book Values and Fair Values of Available-for-Sale Securities | The book values and approximate fair values of investment securities at December 31, 2021 and 2020 are summarized as follows:
| 2021 |  | 2020
| Amortized Cost |  | Fair Value |  | Unrealized |  | Amortized Cost |  | Fair Value |  | Unrealized
($ in thousands) |  |  | Gains |  | (Losses) |  |  |  | Gains |  | (Losses)
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities | $ | 71,951 |  |  | 69,179 |  |  | — |  |  | (2,772) |  |  | 70,016 |  |  | 70,206 |  |  | 371 |  |  | (181) |
Mortgage-backed securities | 2,545,150 |  |  | 2,514,805 |  |  | 9,489 |  |  | (39,834) |  |  | 1,318,998 |  |  | 1,337,706 |  |  | 20,832 |  |  | (2,124) |
Corporate bonds | 45,380 |  |  | 46,430 |  |  | 1,106 |  |  | (56) |  |  | 43,670 |  |  | 45,220 |  |  | 1,760 |  |  | (210) |
Total available for sale | 2,662,481 |  |  | 2,630,414 |  |  | 10,595 |  |  | (42,662) |  |  | 1,432,684 |  |  | 1,453,132 |  |  | 22,963 |  |  | (2,515) |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | 20,260 |  |  | 20,845 |  |  | 585 |  |  | — |  |  | 29,959 |  |  | 30,900 |  |  | 941 |  |  | — |
State and local governments | 493,565 |  |  | 490,854 |  |  | 2,955 |  |  | (5,666) |  |  | 137,592 |  |  | 139,834 |  |  | 2,407 |  |  | (165) |
Total held to maturity | $ | 513,825 |  |  | 511,699 |  |  | 3,540 |  |  | (5,666) |  |  | 167,551 |  |  | 170,734 |  |  | 3,348 |  |  | (165) |
Book Values and Fair Values of Held-to-Maturity Securities | The book values and approximate fair values of investment securities at December 31, 2021 and 2020 are summarized as follows:
| 2021 |  | 2020
| Amortized Cost |  | Fair Value |  | Unrealized |  | Amortized Cost |  | Fair Value |  | Unrealized
($ in thousands) |  |  | Gains |  | (Losses) |  |  |  | Gains |  | (Losses)
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities | $ | 71,951 |  |  | 69,179 |  |  | — |  |  | (2,772) |  |  | 70,016 |  |  | 70,206 |  |  | 371 |  |  | (181) |
Mortgage-backed securities | 2,545,150 |  |  | 2,514,805 |  |  | 9,489 |  |  | (39,834) |  |  | 1,318,998 |  |  | 1,337,706 |  |  | 20,832 |  |  | (2,124) |
Corporate bonds | 45,380 |  |  | 46,430 |  |  | 1,106 |  |  | (56) |  |  | 43,670 |  |  | 45,220 |  |  | 1,760 |  |  | (210) |
Total available for sale | 2,662,481 |  |  | 2,630,414 |  |  | 10,595 |  |  | (42,662) |  |  | 1,432,684 |  |  | 1,453,132 |  |  | 22,963 |  |  | (2,515) |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | 20,260 |  |  | 20,845 |  |  | 585 |  |  | — |  |  | 29,959 |  |  | 30,900 |  |  | 941 |  |  | — |
State and local governments | 493,565 |  |  | 490,854 |  |  | 2,955 |  |  | (5,666) |  |  | 137,592 |  |  | 139,834 |  |  | 2,407 |  |  | (165) |
Total held to maturity | $ | 513,825 |  |  | 511,699 |  |  | 3,540 |  |  | (5,666) |  |  | 167,551 |  |  | 170,734 |  |  | 3,348 |  |  | (165) |
Schedule of Information Regarding Securities with Unrealized Losses | The following table presents information regarding securities with unrealized losses at December 31, 2021:
| Securities in an Unrealized Loss Position for Less than 12 Months |  | Securities in an Unrealized Loss Position for More than 12 Months |  | Total
($ in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Government-sponsored enterprise securities | $ | 21,436 |  |  | 522 |  |  | 47,743 |  |  | 2,250 |  |  | 69,179 |  |  | 2,772 |
Mortgage-backed securities | 1,773,022 |  |  | 25,977 |  |  | 404,484 |  |  | 13,857 |  |  | 2,177,506 |  |  | 39,834 |
Corporate bonds | 999 |  |  | 1 |  |  | 945 |  |  | 55 |  |  | 1,944 |  |  | 56 |
State and local governments | 228,279 |  |  | 3,797 |  |  | 34,398 |  |  | 1,869 |  |  | 262,677 |  |  | 5,666 |
Total temporarily impaired securities | $ | 2,023,736 |  |  | 30,297 |  |  | 487,570 |  |  | 18,031 |  |  | 2,511,306 |  |  | 48,328 |
The following table presents information regarding securities with unrealized losses at December 31, 2020:
| Securities in an Unrealized Loss Position for Less than 12 Months |  | Securities in an Unrealized Loss Position for More than 12 Months |  | Total
($ in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Government-sponsored enterprise securities | $ | 29,812 |  |  | 181 |  |  | — |  |  | — |  |  | 29,812 |  |  | 181 |
Mortgage-backed securities | 497,992 |  |  | 1,957 |  |  | 6,168 |  |  | 167 |  |  | 504,160 |  |  | 2,124 |
Corporate bonds | 3,956 |  |  | 45 |  |  | 835 |  |  | 165 |  |  | 4,791 |  |  | 210 |
State and local governments | 23,310 |  |  | 165 |  |  | — |  |  | — |  |  | 23,310 |  |  | 165 |
Total temporarily impaired securities | $ | 555,070 |  |  | 2,348 |  |  | 7,003 |  |  | 332 |  |  | 562,073 |  |  | 2,680 |
Schedule of Book Values and Approximate Fair Values of Investment Securities by Contractual Maturity | The book values and approximate fair values of investment securities at December 31, 2021, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
| Securities Available for Sale |  | Securities Held to Maturity
($ in thousands) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Debt securities |  |  |  |  |  |  |
Due within one year | $ | 1,001 |  |  | 1,020 |  |  | 1,246 |  |  | 1,258 |
Due after one year but within five years | 27,629 |  |  | 28,454 |  |  | — |  |  | — |
Due after five years but within ten years | 87,701 |  |  | 85,191 |  |  | 16,058 |  |  | 16,112 |
Due after ten years | 1,000 |  |  | 944 |  |  | 476,261 |  |  | 473,484 |
Mortgage-backed securities | 2,545,150 |  |  | 2,514,805 |  |  | 20,260 |  |  | 20,845 |
Total securities | $ | 2,662,481 |  |  | 2,630,414 |  |  | 513,825 |  |  | 511,699 |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration