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Securities | 9 Months Ended
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Sep. 30, 2021
Securities |
Securities | Note 3: Securities ​ The table below provides the amortized cost, unrealized gains and losses, and fair values of debt securities summarized by major category (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of September 30, 2021
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | ​ | ACL |  | Value
Debt securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 185,636 | ​ | $ | 72 | ​ | $ | (255) | ​ | $ | — | ​ | $ | 185,453
Obligations of U.S. government corporations and agencies | ​ |  | 37,784 | ​ |  | 1,213 | ​ |  | — | ​ | ​ | — | ​ |  | 38,997
Obligations of states and political subdivisions | ​ |  | 288,023 | ​ |  | 8,743 | ​ |  | (754) | ​ | ​ | — | ​ |  | 296,012
Commercial mortgage-backed securities | ​ | ​ | 607,097 | ​ | ​ | 5,278 | ​ | ​ | (9,078) | ​ | ​ | — | ​ | ​ | 603,297
Residential mortgage-backed securities | ​ |  | 2,108,388 | ​ |  | 13,973 | ​ |  | (19,753) | ​ | ​ | — | ​ |  | 2,102,608
Asset-backed securities | ​ | ​ | 468,618 | ​ | ​ | 323 | ​ | ​ | (134) | ​ | ​ | — | ​ | ​ | 468,807
Corporate debt securities | ​ |  | 301,878 | ​ |  | 1,374 | ​ |  | (1,182) | ​ | ​ | — | ​ |  | 302,070
Total debt securities available for sale | ​ | $ | 3,997,424 | ​ | $ | 30,976 | ​ | $ | (31,156) | ​ | $ | — | ​ | $ | 3,997,244
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2020
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | ​ | ACL |  | Value
Debt securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 27,481 | ​ | $ | 356 | ​ | $ | — | ​ | $ | — | ​ | $ | 27,837
Obligations of U.S. government corporations and agencies | ​ |  | 67,406 | ​ |  | 2,162 | ​ |  | (49) | ​ | ​ | — | ​ |  | 69,519
Obligations of states and political subdivisions | ​ |  | 292,940 | ​ |  | 11,779 | ​ |  | (8) | ​ | ​ | — | ​ |  | 304,711
Commercial mortgage-backed securities | ​ | ​ | 408,716 | ​ | ​ | 10,212 | ​ | ​ | (312) | ​ | ​ | — | ​ | ​ | 418,616
Residential mortgage-backed securities | ​ |  | 1,344,047 | ​ |  | 24,571 | ​ |  | (303) | ​ | ​ | — | ​ |  | 1,368,315
Corporate debt securities | ​ |  | 70,953 | ​ |  | 1,237 | ​ |  | (1) | ​ | ​ | — | ​ |  | 72,189
Total debt securities available for sale | ​ | $ | 2,211,543 | ​ | $ | 50,317 | ​ | $ | (673) | ​ | ​ | — | ​ | $ | 2,261,187
​ Amortized cost and fair value of debt securities by contractual maturity or pre-refunded date are shown below. Mortgages underlying mortgage-backed securities and asset-backed securities may be called or prepaid; therefore, actual maturities could differ from the contractual maturities. All mortgage-backed securities were issued by U.S. government corporations and agencies (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of September 30, 2021
​ |  | Amortized |  | Fair
​ |  | Cost |  | Value
Debt securities available for sale | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | 103,158 | ​ | $ | 103,787
Due after one year through five years | ​ |  | 603,868 | ​ |  | 608,074
Due after five years through ten years | ​ |  | 385,479 | ​ |  | 393,540
Due after ten years | ​ |  | 2,904,919 | ​ |  | 2,891,843
Total debt securities available for sale | ​ | $ | 3,997,424 | ​ | $ | 3,997,244
​ Realized gains and losses related to sales and calls of debt securities available for sale are summarized as follows (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
Realized gains and losses on sales of debt securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross security gains | ​ | $ | — | ​ | $ | 11 | ​ | $ | 524 | ​ | $ | 1,718
Gross security (losses) | ​ | ​ | (5) | ​ | ​ | — | ​ | ​ | (410) | ​ | ​ | (8)
Net gains (losses) on sales of debt securities | ​ | $ | (5) | ​ | $ | 11 | ​ | $ | 114 | ​ | $ | 1,710
​ Debt securities with carrying amounts of $729.2 million on September 30, 2021, and $628.0 million December 31, 2020, were pledged as collateral for public deposits, securities sold under agreements to repurchase, and for other purposes as required. ​ The following information pertains to debt securities with gross unrealized losses, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of September 30, 2021
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
​ |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 180,317 | ​ | $ | (255) | ​ | $ | — | ​ | $ | — | ​ | $ | 180,317 | ​ | $ | (255)
Obligations of states and political subdivisions | ​ | ​ | 55,434 | ​ | ​ | (754) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 55,434 | ​ | ​ | (754)
Commercial mortgage-backed securities | ​ | ​ | 434,220 | ​ | ​ | (9,036) | ​ | ​ | 3,063 | ​ | ​ | (42) | ​ | ​ | 437,283 | ​ | ​ | (9,078)
Residential mortgage-backed securities | ​ |  | 1,392,160 | ​ |  | (19,707) | ​ |  | 5,568 | ​ |  | (46) | ​ |  | 1,397,728 | ​ |  | (19,753)
Asset-backed securities | ​ | ​ | 51,183 | ​ | ​ | (134) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 51,183 | ​ | ​ | (134)
Corporate debt securities | ​ |  | 210,951 | ​ |  | (1,182) | ​ |  | — | ​ |  | — | ​ |  | 210,951 | ​ |  | (1,182)
Total temporarily impaired securities | ​ | $ | 2,324,265 | ​ | $ | (31,068) | ​ | $ | 8,631 | ​ | $ | (88) | ​ | $ | 2,332,896 | ​ | $ | (31,156)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2020
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ | ​ | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
​ |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of U.S. government corporations and agencies | ​ | $ | — | ​ | $ | — | ​ | $ | 4,957 | ​ | $ | (49) | ​ | $ | 4,957 | ​ | $ | (49)
Obligations of states and political subdivisions | ​ | ​ | 762 | ​ | ​ | (8) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 762 | ​ | ​ | (8)
Commercial mortgage-backed securities | ​ | ​ | 129,655 | ​ | ​ | (312) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 129,655 | ​ | ​ | (312)
Residential mortgage-backed securities | ​ |  | 89,997 | ​ |  | (300) | ​ |  | 139 | ​ |  | (3) | ​ |  | 90,136 | ​ |  | (303)
Corporate debt securities | ​ |  | 1,499 | ​ |  | (1) | ​ |  | — | ​ |  | — | ​ |  | 1,499 | ​ |  | (1)
Total temporarily impaired securities | ​ | $ | 221,913 | ​ | $ | (621) | ​ | $ | 5,096 | ​ | $ | (52) | ​ | $ | 227,009 | ​ | $ | (673)
​ Debt securities available for sale are not within the scope of CECL, however, the accounting for credit losses on these securities is affected by ASC 326-30. The Company’s debt security portfolio consisted of 1,274 securities as of September 30, 2021, compared to 1,114 securities as of December 31, 2020. The number of debt securities in the investment portfolio in an unrealized loss position was 294, representing an unrealized loss of 1.3% of the aggregate fair value, as of September 30, 2021, compared to 23 securities representing an unrealized loss of 0.3% of the aggregate fair value as of December 31, 2020. Unrealized losses related to changes in market interest rates and market conditions that do not represent credit-related impairments. Furthermore, the Company does not intend to sell such securities and it is more likely than not that the Company will recover the amortized cost prior to being required to sell the debt securities. Full collection of the amounts due according to the contractual terms of the debt securities is expected; therefore, the impairment related to noncredit factors is recognized in accumulated other comprehensive income (loss), net of applicable taxes. As of September 30, 2021, the Company did not hold general obligation bonds of any single issuer, the aggregate of which exceeded 10% of the Company’s stockholders’ equity.

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