XML 36 R24.htm IDEA: XBRL DOCUMENT v3.20.2

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Values of Investments Securities

The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:

			September 30, 2020
(in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Allowance for Credit Losses						Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies			$	556,295					$	17,821					$	(228)					$	—					$	573,888
Obligations of states and political subdivisions			107,840						4,898						(13)						—						112,725
Corporate bonds			2,451						101						—						—						2,552
Asset backed securities			462,948						450						(9,606)						—						453,792
Total debt securities available for sale			$	1,129,534					$	23,270					$	(9,847)					$	—					$	1,142,957

Debt Securities Held to Maturity
Obligations of U.S. government agencies			$	299,797					$	14,363					$	—					$	314,160					$	—
Obligations of states and political subdivisions			10,899						399						—						11,298						—
Total debt securities held to maturity			$	310,696					$	14,762					$	—					$	325,458					$	—

			December 31, 2019
(in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Debt Securities Available for Sale
Obligations of U.S. government agencies			$	466,139					$	7,261					$	(420)					$	472,980
Obligations of states and political subdivisions			106,373						3,229						(1)						109,601
Corporate bonds			2,430						102						—						2,532
Asset backed securities			371,809						129						(6,913)						365,025
Total debt securities available for sale			$	946,751					$	10,721					$	(7,334)					$	950,138
Debt Securities Held to Maturity
Obligations of U.S. government agencies			361,785						6,072						(480)						367,377
Obligations of states and political subdivisions			13,821						327						—						14,148
Total debt securities held to maturity			$	375,606					$	6,399					$	(480)					$	381,525

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

As of September 30, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows:

Debt Securities			Available for Sale												Held to Maturity
(in thousands)			Amortized Cost						Estimated Fair Value						Amortized Cost						Estimated Fair Value
						Due in one year						$	—											$	—					$	—					$	—
Due after one year through five years			138,993						139,469						—						—
Due after five years through ten years			142,939						143,492						20,439						21,485
Due after ten years			847,602						859,996						290,257						303,973
Totals			$	1,129,534					$	1,142,957					$	310,696					$	325,458

Gross Unrealized Losses on Investment Securities

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

September 30, 2020:			Less than 12 months												12 months or more												Total
(in thousands)			Fair Value						Unrealized Loss						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies			$	152,656					$	(228)					$	—					$	—					$	152,656					$	(228)
Obligations of states and political subdivisions			963						(13)						—						—						963						(13)
Asset backed securities			92,463						(1,495)						296,841						(8,111)						389,304						(9,606)
Total debt securities available for sale			$	246,082					$	(1,736)					$	296,841					$	(8,111)					$	542,923					$	(9,847)

December 31, 2019:			Less than 12 months												12 months or more												Total
(in thousands)			Fair Value						Unrealized Loss						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies			$	36,709					$	(309)					$	23,852					$	(111)					$	60,561					$	(420)
Obligations of states and political subdivisions			778						(1)						—						—						778						(1)
Asset backed securities			237,463						(4,535)						99,981						(2,378)						337,444						(6,913)
Total debt securities available for sale			$	274,950					$	(4,845)					$	123,833					$	(2,489)					$	398,783					$	(7,334)
Debt Securities Held to Maturity
Obligations of U.S. government agencies			$	18,813					(142)						$	62,952					$	(338)					$	81,765					$	(480)

Amortized Cost of Debt Securities Held-to-Maturity

The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:

			September 30, 2020												December 31, 2019
			AAA/AA/A						BBB/BB/B						AAA/AA/A						BBB/BB/B
			(In thousands)												(In thousands)
Debt Securities Held to Maturity
Obligations of U.S. government agencies			$	299,797					$	—					$	361,785					$	—
Obligations of states and political subdivisions			10,899						—						13,136						685
Total debt securities held to maturity			$	310,696					$	—					$	374,921					$	685

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:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563

+ Details

Name:	us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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:	nonnum: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=118939692&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration