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Securities (Tables)
12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale, debt securities
The following tables summarize available-for-sale securities held by the Company at December 31, 2019 and 2018:
 
Available-for-Sale Securities
December 31, 2019
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
(In thousands)
 
 
 
 
 
 
 
U.S. Treasuries
$
1,840

 
$
0

 
$
0

 
$
1,840

Obligations of U.S. Government sponsored entities
$
367,551

 
$
5,021

 
$
84

 
$
372,488

Obligations of U.S. states and political subdivisions
96,668

 
1,178

 
61

 
97,785

Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
U.S. Government agencies
164,643

 
1,327

 
1,519

 
164,451

U.S. Government sponsored entities
660,037

 
2,940

 
3,387

 
659,590

U.S. corporate debt securities
2,500

 
0

 
67

 
2,433

Total available-for-sale securities
$
1,293,239

 
$
10,466

 
$
5,118

 
$
1,298,587


  
 
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 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 sales transactions of available-for-sale securities
The following table sets forth information with regard to sales transactions of securities available-for-sale:
 
Year ended December 31,
(In thousands)
2019
 
2018
 
2017
Proceeds from sales
$
232,598

 
$
70,652

 
$
64,106

Gross realized gains
1,123

 
327

 
19

Gross realized losses
(595
)
 
(767
)
 
(426
)
Net gains (losses) on sales of available-for-sale securities
$
528

 
$
(440
)
 
$
(407
)

Schedule of debt securities, available for sale with unrealized losses
The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2019:
December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale Securities
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
$
18,654

 
$
76

 
$
3,479

 
$
8

 
$
22,133

 
$
84

Obligations of U.S. states and political subdivisions
10,456

 
54

 
2,300

 
7

 
12,756

 
61

Mortgage-backed securities – residential, issued by
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
54,846

 
489

 
45,999

 
1,030

 
100,845

 
1,519

U.S. Government sponsored entities
157,801

 
752

 
233,999

 
2,635

 
391,800

 
3,387

U.S. corporate debt securities
0

 
0

 
2,433

 
67

 
2,433

 
67

Total available-for-sale securities
$
241,757

 
$
1,371

 
$
288,210

 
$
3,747

 
$
529,967

 
$
5,118


Schedule of available for sale securities with unrealized losses
The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2018
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Available-for-Sale Securities
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 December 31, 2018:
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Held-to-Maturity Securities
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. sponsored entities
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. 
December 31, 2019
 
 
 
(In thousands)
Amortized Cost
 
Fair Value
Available-for-sale securities:
 
 
 
Due in one year or less
$
107,975

 
$
108,089

Due after one year through five years
270,477

 
274,798

Due after five years through ten years
77,710

 
79,165

Due after ten years
12,397

 
12,494

Total
468,559

 
474,546

Mortgage-backed securities
824,680

 
824,041

Total available-for-sale debt securities
$
1,293,239

 
$
1,298,587

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

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

Due after ten years
0

 
0

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

 
$
139,377