XML 37 R27.htm IDEA: XBRL DOCUMENT v3.22.1

INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

are as follows:

(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
March 31, 2022
Held-to-maturity:
Debt securities:
States and political subdivisions			$	41,730					$	—					$	(1)					$	41,729					$	—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			$	287,777					$	—					$	(3)					$	287,774					$	—
Total held-to-maturity securities			$	329,507					$	—					$	(4)					$	329,503					$	—
Available-for-sale:
Debt securities:
States and political subdivisions			$	178,137					$	487					$	(14,443)					$	164,181					$	—
Corporate securities			36,561						—						(3,507)						33,054						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			33,275						120						(1,224)						32,171						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			926,988						220						(69,010)						858,198						—
Residential - Non-government agencies			11,088						101						(281)						10,908						—
Commercial - U.S. Government-sponsored entities			63,074						17						(3,733)						59,358						—
Commercial - Non-government agencies			41,333						279						—						41,612						—
Total available-for-sale securities			$	1,290,456					$	1,224					$	(92,198)					$	1,199,482					$	—

(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
December 31, 2021
Available-for-sale:
Debt securities:
States and political subdivisions			$	235,521					$	3,156					$	(1,849)					$	236,828					$	—
Corporate securities			41,687						24						(1,065)						40,646						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			35,833						69						(568)						35,334						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			1,213,910						4,899						(19,993)						1,198,816						—
Residential - Non-government agencies			11,942						335						(64)						12,213						—
Commercial - U.S. Government-sponsored entities			66,287						756						(1,194)						65,849						—
Commercial - Non-government agencies			41,328						685						—						42,013						—
Total available-for-sale securities			$	1,646,508					$	9,924					$	(24,733)					$	1,631,699					$	—

Schedule of amortized cost and estimated fair value of investment securities by contractual maturity

The amortized cost and estimated fair value of our HTM and AFS debt securities at March 31, 2022 are shown below by contractual maturity. 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. Securities not due at a single maturity date are shown separately.

			March 31, 2022
(dollars in thousands)			Amortized Cost						Fair Value
Held-to-maturity:
Debt securities:
Due after ten years			$	41,730					$	41,729
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			287,777						287,774
Total held-to-maturity securities			$	329,507					$	329,503
Available-for-sale:
Debt securities:
Due in one year or less			$	5,614					$	5,607
Due after one year through five years			20,250						20,432
Due after five years through ten years			83,032						78,488
Due after ten years			139,077						124,879
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			926,988						858,198
Residential - Non-government agencies			11,088						10,908
Commercial - U.S. Government-sponsored entities			63,074						59,358
Commercial - Non-government agencies			41,333						41,612
Total available-for-sale securities			$	1,290,456					$	1,199,482

Schedule of investment securities in an unrealized loss position

There were a total of 273 and 153 debt securities which were in an unrealized loss position, without an ACL, at March 31, 2022 and December 31, 2021, respectively. The following tables summarize AFS debt securities which were in an unrealized loss position at March 31, 2022 and December 31, 2021, aggregated by major security type and length of time in a continuous unrealized loss position.

			Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
March 31, 2022
Debt securities:
States and political subdivisions			$	163,055					$	(12,432)					$	9,445					$	(2,012)					$	172,500					$	(14,444)
Corporate securities			4,696						(325)						28,358						(3,182)						33,054						(3,507)
U.S. Treasury obligations and direct obligations of U.S Government agencies			4,808						(54)						19,215						(1,170)						24,023						(1,224)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			951,100						(50,975)						170,132						(18,038)						1,121,232						(69,013)
Residential - Non-government agencies			6,336						(137)						852						(144)						7,188						(281)
Commercial - U.S. Government-sponsored entities			36,944						(1,104)						14,579						(2,629)						51,523						(3,733)
Total temporarily impaired securities			$	1,166,939					$	(65,027)					$	242,581					$	(27,175)					$	1,409,520					$	(92,202)

			Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
December 31, 2021
Debt securities:
States and political subdivisions			$	79,360					$	(1,252)					$	10,864					$	(597)					$	90,224					$	(1,849)
Corporate securities			8,633						(235)						21,960						(830)						30,593						(1,065)
U.S. Treasury obligations and direct obligations of U.S Government agencies			16,103						(415)						10,891						(153)						26,994						(568)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			926,570						(15,883)						114,747						(4,110)						1,041,317						(19,993)
Residential - Non-government agencies			—						—						938						(64)						938						(64)
Commercial - U.S. Government-sponsored entities			6,313						(205)						16,281						(989)						22,594						(1,194)
Total temporarily impaired securities			$	1,036,979					$	(17,990)					$	175,681					$	(6,743)					$	1,212,660					$	(24,733)

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:	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

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=123581744&loc=d3e27290-111563

+ Details

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

X

- Definition

Tabular disclosure of the summary of investment holdings.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B)
-URI http://asc.fasb.org/extlink&oid=122147990&loc=d3e611197-123010

+ Details

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