XML 49 R32.htm IDEA: XBRL DOCUMENT v3.20.4

Securities (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019:

			Available-for-Sale Securities
December 31, 2020			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
(In thousands)
Obligations of U.S. Government sponsored entities			$	599,652					$	9,820					$	1,992					$	607,480
Obligations of U.S. states and political subdivisions			126,642						3,144						40						129,746
Mortgage-backed securities – residential, issued by
U.S. Government agencies			179,538						3,216						646						182,108
U.S. Government sponsored entities			691,562						14,593						675						705,480
U.S. corporate debt securities			2,500						0						121						2,379
Total available-for-sale securities			$	1,599,894					$	30,773					$	3,474					$	1,627,193

			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

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)			2020						2019						2018
Proceeds from sales			$	42,333					$	232,598					$	70,652
Gross realized gains			179						1,123						327
Gross realized losses			0						(595)						(767)
Net gains (losses) on sales of available-for-sale securities			$	179					$	528					$	(440)

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, 2020:

December 31, 2020
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			$	310,711					$	1,992					$	0					$	0					$	310,711					$	1,992
Obligations of U.S. states and political subdivisions			8,868						40						0						0						8,868						40
Mortgage-backed securities – residential, issued by
U.S. Government agencies			10,560						396						1,819						250						12,379						646
U.S. Government sponsored entities			87,643						586						5,068						89						92,711						675
U.S. corporate debt securities			0						0						2,379						121						2,379						121
Total available-for-sale securities			$	417,782					$	3,014					$	9,266					$	460					$	427,048					$	3,474

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 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, 2020
(In thousands)			Amortized Cost						Fair Value
Available-for-sale securities:
Due in one year or less			$	54,484					$	55,008
Due after one year through five years			379,044						388,132
Due after five years through ten years			228,572						229,107
Due after ten years			66,694						67,358
Total			728,794						739,605
Mortgage-backed securities			871,100						887,588
Total available-for-sale debt securities			$	1,599,894					$	1,627,193

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

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 fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121582814&loc=SL82922888-210455

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
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

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27357-111563

+ Details

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