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Debt Securities Available-for-Sale (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Comparative Summary Of Mortgage-Backed Securities And Other Securities Available-for-Sale

The following is a comparative summary of mortgage-backed securities and other debt securities available-for-sale at December 31, 2021 and 2020 (in thousands):  

			December 31, 2021
									Gross						Gross						Estimated
			Amortized						unrealized						unrealized						fair
			cost						gains						losses						value
U.S. Government agency securities			$	2,344					$	—					$	(54)					$	2,290
Mortgage-backed securities:
Pass-through certificates:
Government sponsored enterprises ("GSEs")			579,035						5,233						(2,862)						581,406
Real estate mortgage investment conduits ("REMICs"):
GSE			390,755						2,398						(1,443)						391,710
			969,790						7,631						(4,305)						973,116
Other debt securities:
Municipal bonds			71						1						—						72
Corporate bonds			233,311						192						(744)						232,759
			233,382						193						(744)						232,831
Total debt securities available-for-sale			$	1,205,516					$	7,824					$	(5,103)					$	1,208,237

			December 31, 2020
									Gross						Gross						Estimated
			Amortized						unrealized						unrealized						fair
			cost						gains						losses						value
U.S. Government agency securities			$	3,168					$	—					$	(10)					$	3,158
Mortgage-backed securities:
Pass-through certificates:
GSE			270,867						10,720						(244)						281,343
REMICs:
GSE			884,414						7,027						(476)						890,965
Non-GSE			4						—						—						4
			1,155,285						17,747						(720)						1,172,312
Other debt securities:
Municipal bonds			122						1						—						123
Corporate bonds			87,319						1,099						—						88,418
Asset-backed securities			779						15						—						794
			88,220						1,115						—						89,335
Total debt securities available-for-sale			$	1,246,673					$	18,862					$	(730)					$	1,264,805

Summary Of Expected Maturity Distribution Of Debt Securities Available-for-Sale, Other Than Mortgage-Backed Securities

The following is a summary of the expected maturity distribution of debt securities available-for-sale other than mortgage-backed securities at December 31, 2021 (in thousands): 

Available-for-sale						Amortized cost						Estimated fair value
Due in one year or less						$	57,299					$	57,295
Due after one year through five years						161,074						160,835
Due after five years through ten years						17,353						16,991
						$	235,726					$	235,121

Gross Unrealized Losses On Mortgage-Backed Securities

Gross unrealized losses on mortgage-backed securities and other debt securities available-for-sale, and the estimated fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2021 and 2020, were as follows (in thousands):

			December 31, 2021
			Less than 12 months												12 months or more												Total
			Unrealized						Estimated						Unrealized						Estimated						Unrealized						Estimated
			losses						fair value						losses						fair value						losses						fair value
U.S. Government agency securities			$	—					$	—					$	(54)					$	2,290					$	(54)					$	2,290
Mortgage-backed securities:
Pass-through certificates:
GSE			(2,543)						417,291						(318)						14,625						(2,861)						431,916
REMICs:
GSE			(1,350)						125,725						(94)						4,413						(1,444)						130,138
Other debt securities:
Corporate bonds			(744)						146,853						—						—						(744)						146,853
Total			$	(4,637)					$	689,869					$	(466)					$	21,328					$	(5,103)					$	711,197

			December 31, 2020
			Less than 12 months												12 months or more												Total
			Unrealized						Estimated						Unrealized						Estimated						Unrealized						Estimated
			losses						fair value						losses						fair value						losses						fair value
U.S. Government agency securities			$	(10)					$	3,158					$	—					$	—					$	(10)					$	3,158
Mortgage-backed securities:
Pass-through certificates:
GSE			(233)						28,419						(11)						459						(244)						28,878
REMICs:
GSE			(476)						210,569						—						—						(476)						210,569
Total			$	(719)					$	242,146					$	(11)					$	459					$	(730)					$	242,605

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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

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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

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