XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.19.2

Securities Available for Sale (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Debt Securities, Available-for-sale [Abstract] |
Summary of Securities Available for Sale | The following is a summary of securities available for sale as of the dates indicated:
| At June 30, 2019
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (Dollars in thousands)
Debt securities: |  |  |  |  |  |  |
U.S. Government agency and U.S. Government sponsored enterprises: |  |  |  |  |  |  |
Collateralized mortgage obligations | $ | 842,576 |  |  | $ | 5,443 |  |  | $ | (3,120 | ) |  | $ | 844,899 |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential | 369,476 |  |  | 913 |  |  | (3,213 | ) |  | 367,176 |
Commercial | 530,206 |  |  | 13,437 |  |  | (2,712 | ) |  | 540,931 |
Corporate securities | 5,000 |  |  | — |  |  | (1,120 | ) |  | 3,880 |
Municipal securities | 70,007 |  |  | 565 |  |  | (555 | ) |  | 70,017 |
Total investment securities available for sale | $ | 1,817,265 |  |  | $ | 20,358 |  |  | $ | (10,720 | ) |  | $ | 1,826,903 |
| At December 31, 2018
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (Dollars in thousands)
Debt securities: |  |  |  |  |  |  |
U.S. Government agency and U.S. Government sponsored enterprises: |  |  |  |  |  |  |
Collateralized mortgage obligations | $ | 914,710 |  |  | $ | 1,541 |  |  | $ | (21,129 | ) |  | $ | 895,122 |
Mortgage-backed securities: |  |  |  |  |  |  |
Residential | 415,659 |  |  | 47 |  |  | (13,101 | ) |  | 402,605 |
Commercial | 481,081 |  |  | 1,024 |  |  | (12,979 | ) |  | 469,126 |
Corporate securities | 5,000 |  |  | — |  |  | (1,174 | ) |  | 3,826 |
Municipal securities | 77,168 |  |  | 398 |  |  | (1,980 | ) |  | 75,586 |
Total investment securities available for sale | $ | 1,893,618 |  |  | $ | 3,010 |  |  | $ | (50,363 | ) |  | $ | 1,846,265 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities at June 30, 2019, by contractual maturity, is presented in the table below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties. Collateralized mortgage obligations and mortgage-backed securities are not due at a single maturity date and their total balances are shown separately.
| Amortized Cost |  | Estimated Fair Value
| (Dollars in thousands)
Available for sale: |  |  |
Due within one year | $ | 750 |  |  | $ | 752 |
Due after one year through five years | 3,560 |  |  | 3,569 |
Due after five years through ten years | 2,648 |  |  | 2,720 |
Due after ten years | 68,049 |  |  | 66,856 |
U.S. Government agency and U.S. Government sponsored enterprises: |  |  |
Collateralized mortgage obligations | 842,576 |  |  | 844,899 |
Mortgage-backed securities: |  |  |
Residential | 369,476 |  |  | 367,176 |
Commercial | 530,206 |  |  | 540,931 |
Total | $ | 1,817,265 |  |  | $ | 1,826,903 |
Schedule of Unrealized Loss on Investments | The following tables show the Company’s investments’ gross unrealized losses and estimated fair values, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated.
|  | As of June 30, 2019
|  | Less than 12 months |  | 12 months or longer |  | Total
Description of Securities |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses
|  | (Dollars in thousands)
Collateralized mortgage obligations* |  | — |  |  | $ | — |  |  | $ | — |  |  | 56 |  |  | $ | 360,072 |  |  | $ | (3,120 | ) |  | 56 |  |  | $ | 360,072 |  |  | $ | (3,120 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential* |  | — |  |  | — |  |  | — |  |  | 37 |  |  | 309,942 |  |  | (3,213 | ) |  | 37 |  |  | 309,942 |  |  | (3,213 | )
Commercial* |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 147,737 |  |  | (2,712 | ) |  | 11 |  |  | 147,737 |  |  | (2,712 | )
Corporate securities |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,881 |  |  | (1,120 | ) |  | 1 |  |  | 3,881 |  |  | (1,120 | )
Municipal securities |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 17,608 |  |  | (555 | ) |  | 3 |  |  | 17,608 |  |  | (555 | )
Total |  | — |  |  | $ | — |  |  | $ | — |  |  | 108 |  |  | $ | 839,240 |  |  | $ | (10,720 | ) |  | 108 |  |  | $ | 839,240 |  |  | $ | (10,720 | )
__________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises
|  | As of December 31, 2018
|  | Less than 12 months |  | 12 months or longer |  | Total
Description of Securities |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses
|  | (Dollars in thousands)
Collateralized mortgage obligations* |  | 1 |  |  | $ | 8,041 |  |  | $ | (28 | ) |  | 93 |  |  | $ | 700,095 |  |  | $ | (21,101 | ) |  | 94 |  |  | $ | 708,136 |  |  | $ | (21,129 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential* |  | 4 |  |  | 19,973 |  |  | (37 | ) |  | 45 |  |  | 363,334 |  |  | (13,064 | ) |  | 49 |  |  | 383,307 |  |  | (13,101 | )
Commercial* |  | 3 |  |  | 38,494 |  |  | (218 | ) |  | 27 |  |  | 312,428 |  |  | (12,761 | ) |  | 30 |  |  | 350,922 |  |  | (12,979 | )
Corporate securities |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,826 |  |  | (1,174 | ) |  | 1 |  |  | 3,826 |  |  | (1,174 | )
Municipal securities |  | 13 |  |  | 5,528 |  |  | (83 | ) |  | 32 |  |  | 42,444 |  |  | (1,897 | ) |  | 45 |  |  | 47,972 |  |  | (1,980 | )
Total |  | 21 |  |  | $ | 72,036 |  |  | $ | (366 | ) |  | 198 |  |  | $ | 1,422,127 |  |  | $ | (49,997 | ) |  | 219 |  |  | $ | 1,494,163 |  |  | $ | (50,363 | )
__________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises

X
- References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
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
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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