XML 38 R28.htm IDEA: XBRL DOCUMENT v3.21.2

Securities (Tables)

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Fair Value of Securities

The fair value of securities is as follows:

			June 30, 2021
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Available for sale
U.S. Treasury and federal agencies			$	191,490					$	228					$	(617)					$	191,101
State and municipal			1,090,693						27,993						(5,193)						1,113,493
Federal agency collateralized mortgage obligations			96,344						2,280						(2)						98,622
Federal agency mortgage-backed pools			165,016						2,641						(147)						167,510
Private labeled mortgage-backed pools			33,074						508						(14)						33,568
Corporate notes			85,637						1,318						(63)						86,892
Total available for sale investment securities			$	1,662,254					$	34,968					$	(6,036)					$	1,691,186
Held to maturity
State and municipal			$	144,430					$	9,176					$	—					$	153,606
Federal agency collateralized mortgage obligations			1,007						16						—						1,023
Federal agency mortgage-backed pools			3,733						175						—						3,908
Private labeled mortgage-backed pools			4,114						—						—						4,114
Total held to maturity investment securities			$	153,284					$	9,367					$	—					$	162,651

			December 31, 2020
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Available for sale
U.S. Treasury and federal agencies			$	19,750					$	—					$	(35)					$	19,715
State and municipal			803,100						35,014						(271)						837,843
Federal agency collateralized mortgage obligations			144,022						3,448						(17)						147,453
Federal agency mortgage-backed pools			114,484						4,315						—						118,799
Corporate notes			9,007						1,208						—						10,215
Total available for sale investment securities			$	1,090,363					$	43,985					$	(323)					$	1,134,025
Held to maturity
State and municipal			$	157,421					$	11,035					$	—					$	168,456
Federal agency collateralized mortgage obligations			2,661						36						—						2,697
Federal agency mortgage-backed pools			8,594						243						—						8,837
Total held to maturity investment securities			$	168,676					$	11,314					$	—					$	179,990

Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity

The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2021 and December 31, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

			June 30, 2021												December 31, 2020
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Available for sale
Within one year			$	46,747					$	46,784					$	44,206					$	44,192
One to five years			156,088						157,620						61,594						63,006
Five to ten years			362,439						366,313						136,857						145,102
After ten years			802,546						820,769						589,200						615,473
			1,367,820						1,391,486						831,857						867,773
Federal agency collateralized mortgage obligations			96,344						98,622						144,022						147,453
Federal agency mortgage–backed pools			165,016						167,510						114,484						118,799
Private labeled mortgage–backed pools			$	33,074					$	33,568					$	—					$	—
Total available for sale investment securities			$	1,662,254					$	1,691,186					$	1,090,363					$	1,134,025
Held to maturity
Within one year			$	4,314					$	4,349					$	7,302					$	7,327
One to five years			43,418						44,942						42,742						44,358
Five to ten years			73,870						78,956						82,087						88,300
After ten years			22,828						25,359						25,290						28,471
			144,430						153,606						157,421						168,456
Federal agency collateralized mortgage obligations			1,007						1,023						2,661						2,697
Federal agency mortgage–backed pools			3,733						3,908						8,594						8,837
Private labeled mortgage–backed pools			4,114						4,114						—						—
Total held to maturity investment securities			$	153,284					$	162,651					$	168,676					$	179,990

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

			June 30, 2021
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Investment Securities
U.S. Treasury and federal agencies			$	96,033					$	(617)					$	—					$	—					$	96,033					$	(617)
State and municipal			346,889						(5,103)						1,435						(90)						348,324						(5,193)
Federal agency collateralized mortgage obligations			412						(2)						—						—						412						(2)
Federal agency mortgage–backed pools			77,091						(147)						—						—						77,091						(147)
Private labeled mortgage–backed pools			9,510						(14)						—						—						9,510						(14)
Corporate notes			22,169						(63)						—						—						22,169						(63)
Total temporarily impaired securities			$	552,104					$	(5,946)					$	1,435					$	(90)					$	553,539					$	(6,036)

			December 31, 2020
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Investment Securities
U.S. Treasury and federal agencies			$	17,215					$	(35)					$	—					$	—					$	17,215					$	(35)
State and municipal			56,287						(242)						1,245						(29)						57,532						(271)
Federal agency collateralized mortgage obligations			6,358						(17)						—						—						6,358						(17)
Total temporarily impaired securities			$	79,860					$	(294)					$	1,245					$	(29)					$	81,105					$	(323)

Sales of Securities Available for Sale

Information regarding security proceeds, gross gains and gross losses are presented below.

			Three Months Ended												Six Months Ended
			June 30												June 30
			2021						2020						2021						2020
Sales of securities available for sale
Proceeds			$	—					$	5,146					$	27,514					$	37,182
Gross gains			—						248						914						637
Gross losses			—						—						—						(50)

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=123581744&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=124269663&loc=SL82922888-210455

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI http://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI http://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

+ Details

Name:	us-gaap_InvestmentTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References

No definition available.

+ Details

Name:	us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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=123581744&loc=d3e27357-111563

+ Details

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