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Investment Securities Available-for-Sale (Tables) | 12 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of amortized cost and estimated fair value of securities available-for-sale | Amortized cost and estimated fair value of securities available-for-sale are summarized as follows:
December 31, 2021 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for |  | Estimated Fair Value
(dollars in thousands) |  |  |  |  | Credit Losses |
U.S. treasury bonds |  | $ | 49,693 |  |  | $ | 22 |  |  | $ | (257) |  |  | $ | — |  |  | $ | 49,458 |
U.S. agency securities |  | 629,273 |  |  | 736 |  |  | (7,622) |  |  | — |  |  | 622,387 |
Residential mortgage backed securities |  | 1,692,773 |  |  | 5,697 |  |  | (20,797) |  |  | — |  |  | 1,677,673 |
Municipal bonds |  | 141,916 |  |  | 3,865 |  |  | (347) |  |  | (3) |  |  | 145,431 |
Corporate bonds |  | 129,012 |  |  | 648 |  |  | (584) |  |  | (617) |  |  | 128,459 |
|  | $ | 2,642,667 |  |  | $ | 10,968 |  |  | $ | (29,607) |  |  | $ | (620) |  |  | $ | 2,623,408 |
December 31, 2020 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for |  | Estimated Fair Value
(dollars in thousands) |  |  |  |  | Credit Losses |
U. S. agency securities |  | $ | 181,087 |  |  | $ | 1,461 |  |  | ( 627 ) |  | $ | — |  |  | $ | 181,921 |
Residential mortgage backed securities |  | 811,328 |  |  | 14,506 |  |  | ( 833 ) |  |  |  | 825,001
Municipal bonds |  | 102,259 |  |  | 5,872 |  |  | — |  |  | (18) |  |  | 108,113
Corporate bonds |  | 34,383 |  |  | 1,624 |  |  | ( 8 ) |  | ( 149 ) |  | 35,850
|  | $ | 1,129,057 |  |  | $ | 23,463 |  |  | ( 1,468 ) |  | ( 167 ) |  | $ | 1,150,885 |
Schedule of gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss | Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss position as of December 31, 2021 and 2020 are as follows:
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
December 31, 2021 |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
(dollars in thousands) |  |  |  |  |  |  |
U.S. Treasury Bond |  | 1 |  |  | $ | 24,593 |  |  | $ | 257 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,593 |  |  | $ | 257 |
U. S. agency securities |  | 64 |  |  | 452,966 |  |  | 6,256 |  |  | 68,977 |  |  | 1,366 |  |  | 521,943 |  |  | 7,622 |
Residential mortgage backed securities |  | 153 |  |  | 1,327,519 |  |  | 16,841 |  |  | 108,061 |  |  | 3,956 |  |  | 1,435,580 |  |  | 20,797 |
Municipal Bonds |  | 8 |  |  | 20,181 |  |  | 347 |  |  | — |  |  | — |  |  | 20,181 |  |  | 347 |
Corporate bonds |  | 13 |  |  | 66,051 |  |  | 584 |  |  | — |  |  | — |  |  | 66,051 |  |  | 584 |
|  | 239 |  | $ | 1,891,310 |  |  | $ | 24,285 |  |  | $ | 177,038 |  |  | $ | 5,322 |  |  | $ | 2,068,348 |  |  | $ | 29,607 |
|  |  |  | Less than 12 Months |  | 12 Months or Greater |  | Total
December 31, 2020 |  | Number of Securities |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
(dollars in thousands) |  |  |  |  |  |  |
U. S. agency securities |  | 28 |  |  | $ | 46,412 |  |  | $ | 67 |  |  | $ | 41,320 |  |  | $ | 560 |  |  | $ | 87,732 |  |  | $ | 627 |
Residential mortgage backed securities |  | 35 |  |  | 170,178 |  |  | 782 |  |  | 6,419 |  |  | 51 |  |  | 176,597 |  |  | 833 |
Municipal bonds |  | 3 |  |  | 5,764 |  |  | 8 |  |  | — |  |  | — |  |  | 5,764 |  |  | 8 |
|  | 66 |  |  | $ | 222,354 |  |  | $ | 857 |  |  | $ | 47,739 |  |  | $ | 611 |  |  | $ | 270,093 |  |  | $ | 1,468 |
Schedule of amortized cost and estimated fair value of investments available-for-sale by contractual maturity | The amortized cost and estimated fair value of investments available-for-sale at December 31, 2021 and 2020 by contractual maturity are shown in the table below. Expected maturities for residential mortgage backed securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | December 31, 2021 |  | December 31, 2020
(dollars in thousands) |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
U. S. agency securities maturing: |  |  |  |  |  |  |  |
One year or less |  | $ | 425,597 |  |  | $ | 421,347 |  |  | $ | 53,916 |  |  | $ | 53,906 |
After one year through five years |  | 141,537 |  |  | 140,785 |  |  | 110,083 |  |  | 110,777 |
Five years through ten years |  | 62,092 |  |  | 60,255 |  |  | 17,087 |  |  | 17,240 |
Residential mortgage backed securities |  | 1,692,820 |  |  | 1,677,673 |  |  | 811,328 |  |  | 825,001 |
Municipal bonds maturing: |  |  |  |  |  |  |  |
One year or less |  | 4,806 |  |  | 4,861 |  |  | 4,329 |  |  | 4,348 |
After one year through five years |  | 25,457 |  |  | 26,816 |  |  | 26,622 |  |  | 28,272 |
Five years through ten years |  | 97,945 |  |  | 99,960 |  |  | 69,309 |  |  | 73,389 |
After ten years |  | 13,708 |  |  | 13,797 |  |  | 2,000 |  |  | 2,121 |
Corporate bonds maturing: |  |  |  |  |  |  |  |
One year or less |  | 18,924 |  |  | 18,991 |  |  | 5,218 |  |  | 5,220 |
After one year through five years |  | 54,630 |  |  | 54,833 |  |  | 22,189 |  |  | 23,267 |
Five years through ten years |  | 55,458 |  |  | 55,252 |  |  | 6,976 |  |  | 7,511 |
After ten years |  | — |  |  | — |  |  | — |  |  | — |
U.S. treasury |  | 49,693 |  |  | 49,458 |  |  | — |  |  | — |
Allowance for credit losses |  |  |  | (620) |  |  | — |  |  | (167) |
|  | $ | 2,642,667 |  |  | $ | 2,623,408 |  |  | $ | 1,129,057 |  |  | $ | 1,150,885 |

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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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- 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
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