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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

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Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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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).

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