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Securities (Tables)
6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale securities
The following table summarizes available-for-sale securities held by the Company at June 30, 2019:
 
Available-for-Sale Securities
June 30, 2019
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(In thousands)
 
 
 
 
 
 
 
U.S. Treasuries
$
280

 
$
0

 
$
2

 
$
278

Obligations of U.S. Government sponsored entities
348,360

 
1,562

 
260

 
349,662

Obligations of U.S. states and political subdivisions
79,891

 
927

 
35

 
80,783

Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
U.S. Government agencies
169,799

 
1,289

 
1,533

 
169,555

U.S. Government sponsored entities
590,032

 
2,371

 
5,874

 
586,529

Non-U.S. Government agencies or sponsored entities
7

 
0

 
0

 
7

U.S. corporate debt securities
2,500

 
0

 
68

 
2,432

Total available-for-sale securities
$
1,190,869

 
$
6,149

 
$
7,772

 
$
1,189,246

 
 The following table summarizes available-for-sale securities held by the Company at December 31, 2018:  
 
Available-for-Sale Securities
December 31, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(In thousands)
 
 
 
 
 
 
 
U.S. Treasuries
$
289

 
$
0

 
$
0

 
$
289

Obligations of U.S. Government sponsored entities
493,371

 
$
80

 
$
7,553

 
485,898

Obligations of U.S. states and political subdivisions
86,260

 
113

 
933

 
85,440

Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
U.S. Government agencies
131,831

 
168

 
3,732

 
128,267

U.S. Government sponsored entities
649,620

 
537

 
19,599

 
630,558

Non-U.S. Government agencies or sponsored entities
31

 
0

 
0

 
31

U.S. corporate debt securities
2,500

 
0

 
325

 
2,175

Total available-for-sale securities
$
1,363,902

 
$
898

 
$
32,142

 
$
1,332,658


Schedule of held to maturity securities
The following table summarizes held-to-maturity securities held by the Company at June 30, 2019:  
 
Held-to-Maturity Securities
June 30, 2019
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(In thousands)
 
 
 
 
 
 
 
Obligations of U.S. Government sponsored entities
$
131,103

 
$
2,954

 
$
0

 
$
134,057

Obligations of U.S. states and political subdivisions
9,458

 
34

 
1

 
9,491

Total held-to-maturity debt securities
$
140,561

 
$
2,988

 
$
1

 
$
143,548

 
The following table summarizes held-to-maturity securities held by the Company at December 31, 2018:  
 
Held-to-Maturity Securities
December 31, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
(In thousands)
 
 
 
 
 
 
 
Obligations of U.S. Government sponsored entities
$
131,306

 
$
0

 
$
1,198

 
$
130,108

Obligations of U.S. states and political subdivisions
9,273

 
20

 
24

 
9,269

Total held-to-maturity debt securities
$
140,579

 
$
20

 
$
1,222

 
$
139,377


Schedule of available for sale securities with unrealized losses
The following table summarizes available-for-sale securities that had unrealized losses at June 30, 2019:  
 
Less than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasuries
$
278

 
$
2

 
$
0

 
$
0

 
$
278

 
$
2

Obligations of U.S. Government sponsored entities
0

 
0

 
149,248

 
260

 
149,248

 
260

Obligations of U.S. states and political subdivisions
5,817

 
8

 
5,021

 
27

 
10,838

 
35

 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
23,908

 
184

 
73,414

 
1,349

 
97,322

 
1,533

U.S. Government sponsored entities
20,391

 
43

 
409,292

 
5,831

 
429,683

 
5,874

U.S. corporate debt securities
0

 
0

 
2,432

 
68

 
2,432

 
68

Total available-for-sale securities
$
50,394

 
$
237

 
$
639,407

 
$
7,535

 
$
689,801

 
$
7,772

   
The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2018:  
 
Less than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. Government sponsored entities
$
21,660

 
$
183

 
$
449,141

 
$
7,370

 
$
470,801

 
$
7,553

Obligations of U.S. states and political subdivisions
11,971

 
19

 
49,756

 
914

 
61,727

 
933

 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
16,854

 
22

 
96,247

 
3,710

 
113,101

 
3,732

U.S. Government sponsored entities
61,163

 
662

 
512,216

 
18,937

 
573,379

 
19,599

U.S. corporate debt securities
0

 
0

 
2,175

 
325

 
2,175

 
325

Total available-for-sale securities
$
111,648

 
$
886

 
$
1,109,535

 
$
31,256

 
$
1,221,183

 
$
32,142


Schedule held-to-maturity securities with unrealized losses
The following table summarizes held-to-maturity securities that had unrealized losses at June 30, 2019.
 
Less than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. states and political subdivisions
$
1,290

 
$
1

 
$
0

 
$
0

 
$
1,290

 
$
1

Total held-to-maturity securities
$
1,290

 
$
1

 
$
0

 
$
0

 
$
1,290

 
$
1

 

The following table summarizes held-to-maturity securities that had unrealized losses at December 31, 2018.
 
Less than 12 Months
 
12 Months or Longer
 
Total
(In thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. Government sponsored entities
$
4,980

 
$
9

 
$
125,128

 
$
1,189

 
$
130,108

 
$
1,198

 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. states and political subdivisions
8,127

 
24

 
0

 
0

 
8,127

 
24

Total held-to-maturity securities
$
13,107

 
$
33

 
$
125,128

 
$
1,189

 
$
138,235

 
$
1,222


Schedule of amortized cost and estimated fair value of debt securities by contractual maturity
The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. 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. Mortgage-backed securities are shown separately since they are not due at a single maturity date.

June 30, 2019
 
 
 
(In thousands)
Amortized Cost
 
Fair Value
Available-for-sale securities:
 
 
 
Due in one year or less
$
100,288

 
$
100,208

Due after one year through five years
216,859

 
218,049

Due after five years through ten years
101,881

 
102,879

Due after ten years
12,003

 
12,019

Total
431,031

 
433,155

Mortgage-backed securities
759,838

 
756,091

Total available-for-sale debt securities
$
1,190,869

 
$
1,189,246


December 31, 2018
 
 
 
(In thousands)
Amortized Cost
 
Fair Value
Available-for-sale securities:
 
 
 
Due in one year or less
$
78,160

 
$
77,930

Due after one year through five years
355,499

 
350,470

Due after five years through ten years
139,560

 
136,734

Due after ten years
9,201

 
8,668

Total
582,420

 
573,802

Mortgage-backed securities
781,482

 
758,856

Total available-for-sale debt securities
$
1,363,902

 
$
1,332,658


June 30, 2019
 
 
 
(In thousands)
Amortized Cost
 
Fair Value
Held-to-maturity securities:
 
 
 
Due in one year or less
$
14,385

 
$
14,402

Due after one year through five years
96,145

 
97,892

Due after five years through ten years
30,031

 
31,254

Total held-to-maturity debt securities
$
140,561

 
$
143,548


December 31, 2018
 
 
 
(In thousands)
Amortized Cost
 
Fair Value
Held-to-maturity securities:
 
 
 
Due in one year or less
$
8,850

 
$
8,832

Due after one year through five years
86,520

 
85,645

Due after five years through ten years
45,209

 
44,900

Total held-to-maturity debt securities
$
140,579

 
$
139,377