XML 347 R37.htm IDEA: XBRL DOCUMENT v3.22.0.1

Investment Securities Available-for-Sale (Tables)

12 Months Ended

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

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

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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