XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.19.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Summary of Investment Securities Available for Sale | The following is a summary of securities available for sale as of the dates indicated:
| Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
| (in thousands)
March 31, 2019 |  |  |  |  |  |  |
U.S. Treasury securities | $ | 54,584 |  |  | $ | 148 |  |  | $ | 4 |  |  | $ | 54,728 |
U.S. government agency and sponsored agency obligations: |  |  |  |  |  |  |
Mortgage-backed securities | 356,973 |  |  | 566 |  |  | 2,938 |  |  | 354,601 |
Collateralized mortgage obligations | 153,286 |  |  | 298 |  |  | 1,557 |  |  | 152,027 |
Debt securities | 17,472 |  |  | 74 |  |  | 53 |  |  | 17,493 |
Total U.S. government agency and sponsored agency obligations | 527,731 |  |  | 938 |  |  | 4,548 |  |  | 524,121 |
Municipal bonds-tax exempt | 41,797 |  |  | 839 |  |  | 15 |  |  | 42,621 |
Total securities available for sale | $ | 624,112 |  |  | $ | 1,925 |  |  | $ | 4,567 |  |  | $ | 621,470 |
December 31, 2018 |  |  |  |  |  |  |
U.S. Treasury securities | $ | 39,768 |  |  | $ | 69 |  |  | $ | 7 |  |  | $ | 39,830 |
U.S. government agency and sponsored agency obligations: |  |  |  |  |  |  |
Mortgage-backed securities | 300,957 |  |  | 61 |  |  | 5,984 |  |  | 295,034 |
Collateralized mortgage obligations | 124,550 |  |  | 74 |  |  | 2,332 |  |  | 122,292 |
Debt securities | 7,499 |  |  | — |  |  | 97 |  |  | 7,402 |
Total U.S. government agency and sponsored agency obligations | 433,006 |  |  | 135 |  |  | 8,413 |  |  | 424,728 |
Municipal bonds-tax exempt | 110,670 |  |  | 197 |  |  | 517 |  |  | 110,350 |
Total securities available for sale | $ | 583,444 |  |  | $ | 401 |  |  | $ | 8,937 |  |  | $ | 574,908 |
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity | The amortized cost and estimated fair value of securities as of March 31, 2019, by contractual or expected maturity, are shown below. Collateralized mortgage obligations are included in the table shown below based on their expected maturities. All other securities are included based on their contractual maturities.
| Available for Sale
| Amortized Cost |  | Estimated Fair Value
| (in thousands)
Within one year | $ | 32,693 |  |  | $ | 32,694 |
Over one year through five years | 146,323 |  |  | 145,744 |
Over five years through ten years | 232,279 |  |  | 231,518 |
Over ten years | 212,817 |  |  | 211,514 |
Total | $ | 624,112 |  |  | $ | 621,470 |
Available for Sale Securities, Continuous Unrealized Loss Position, Fair Value | Gross unrealized losses on securities available for sale, the estimated fair value of the related securities and the number of securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows as of March 31, 2019 and December 31, 2018:
| Holding Period
| Less Than 12 Months |  | 12 Months or More |  | Total
| Gross Unrealized Loss |  | Estimated Fair Value |  | Number of Securities |  | Gross Unrealized Loss |  | Estimated Fair Value |  | Number of Securities |  | Gross Unrealized Loss |  | Estimated Fair Value |  | Number of Securities
| (in thousands, except number of securities)
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 4 |  |  | $ | 19,773 |  |  | 3 |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 4 |  |  | $ | 19,773 |  |  | 3 |
U.S. government agency and sponsored agency obligations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | 19 |  |  | 13,442 |  |  | 2 |  |  | 2,919 |  |  | 214,791 |  |  | 101 |  |  | 2,938 |  |  | 228,233 |  |  | 103 |
Collateralized mortgage obligations | 17 |  |  | 17,874 |  |  | 5 |  |  | 1,540 |  |  | 92,822 |  |  | 50 |  |  | 1,557 |  |  | 110,696 |  |  | 55 |
Debt securities | — |  |  | — |  |  | — |  |  | 53 |  |  | 7,447 |  |  | 3 |  |  | 53 |  |  | 7,447 |  |  | 3 |
Total U.S. government agency and sponsored agency obligations | 36 |  |  | 31,316 |  |  | 7 |  |  | 4,512 |  |  | 315,060 |  |  | 154 |  |  | 4,548 |  |  | 346,376 |  |  | 161 |
Municipal bonds-tax exempt | — |  |  | — |  |  | — |  |  | 15 |  |  | 3,993 |  |  | 3 |  |  | 15 |  |  | 3,993 |  |  | 3 |
Total | $ | 40 |  |  | $ | 51,089 |  |  | 10 |  |  | $ | 4,527 |  |  | $ | 319,053 |  |  | 157 |  |  | $ | 4,567 |  |  | $ | 370,142 |  |  | 167 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 7 |  |  | $ | 14,797 |  |  | 2 |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | 7 |  |  | $ | 14,797 |  |  | 2 |
U.S. government agency and sponsored agency obligations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | 226 |  |  | 41,527 |  |  | 10 |  |  | 5,758 |  |  | 244,550 |  |  | 106 |  |  | 5,984 |  |  | 286,077 |  |  | 116 |
Collateralized mortgage obligations | 59 |  |  | 13,732 |  |  | 3 |  |  | 2,273 |  |  | 92,532 |  |  | 49 |  |  | 2,332 |  |  | 106,264 |  |  | 52 |
Debt securities | — |  |  | — |  |  | — |  |  | 97 |  |  | 7,402 |  |  | 3 |  |  | 97 |  |  | 7,402 |  |  | 3 |
Total U.S. government agency and sponsored agency obligations | 285 |  |  | 55,259 |  |  | 13 |  |  | 8,128 |  |  | 344,484 |  |  | 158 |  |  | 8,413 |  |  | 399,743 |  |  | 171 |
Municipal bonds-tax exempt | 29 |  |  | 8,196 |  |  | 5 |  |  | 488 |  |  | 65,644 |  |  | 30 |  |  | 517 |  |  | 73,840 |  |  | 35 |
Total | $ | 321 |  |  | $ | 78,252 |  |  | 20 |  |  | $ | 8,616 |  |  | $ | 410,128 |  |  | 188 |  |  | $ | 8,937 |  |  | $ | 488,380 |  |  | 208 |
Realized Gains and Losses on Sales of Investment Securities | Realized gains and losses on sales of securities and proceeds from sales of securities were as follows for the periods indicated:
| Three Months Ended March 31,
| 2019 |  | 2018
| (in thousands)
Gross realized gains on sales of securities | $ | 725 |  |  | $ | — |
Gross realized losses on sales of securities | — |  |  | (957 | )
Net realized gains (losses) on sales of securities | $ | 725 |  |  | $ | (957 | )
Proceeds from sales of securities | $ | 69,187 |  |  | $ | 21,958 |

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 amount 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. + References Reference 1: 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=82897076&loc=d3e27290-111563 + 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 realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration