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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
The following tables are a summary of the investment securities portfolios as of the dates shown:
March 31, 2022
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale securities
U.S. Treasury$— $— $— $— 
U.S. Government agencies50,000 366 (729)49,637 
Municipal157,563 1,019 (3,093)155,489 
Corporate notes:
Financial issuers86,994 1 (5,047)81,948 
Other1,000 — (9)991 
Mortgage-backed: (1)
Mortgage-backed securities2,794,760 591 (177,899)2,617,452 
Collateralized mortgage obligations103,424 1 (10,044)93,381 
Total available-for-sale securities$3,193,741 $1,978 $(196,821)$2,998,898 
Held-to-maturity securities
U.S. Government agencies$264,661 $35 $(27,673)$237,023 
Municipal180,548 3,176 (1,693)182,031 
Mortgage-backed: (1)
Mortgage-backed securities2,772,622 — (253,254)2,519,368 
Collateralized mortgage obligations174,273 — (6,847)167,426 
Corporate notes43,784 — (3,205)40,579 
Total held-to-maturity securities$3,435,888 $3,211 $(292,672)$3,146,427 
Less: Allowance for credit losses(159)
Held-to-maturity securities, net of allowance for credit losses$3,435,729 
Equity securities with readily determinable fair value $91,629 $5,259 $(4,199)$92,689 
(1)Consisting entirely of residential mortgage-backed securities, none of which are subprime.
December 31, 2021
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
(In thousands)
Available-for-sale securities
U.S. Treasury$— $— $— $— 
U.S. Government agencies50,158 2,349 — 52,507 
Municipal161,618 4,193 (217)165,594 
Corporate notes:
Financial issuers96,878 418 (2,599)94,697 
Other1,000 7 — 1,007 
Mortgage-backed: (1)
Mortgage-backed securities1,901,005 32,830 (25,854)1,907,981 
Collateralized mortgage obligations105,710 297 — 106,007 
Total available-for-sale securities$2,316,369 $40,094 $(28,670)$2,327,793 
Held-to-maturity securities
U.S. Government agencies$180,192 $201 $(3,314)$177,079 
Municipal187,486 9,544 (223)196,807 
Mortgage-backed: (1)
Mortgage-backed securities2,530,730 864 (47,622)2,483,972 
Collateralized mortgage obligations— — — — 
Corporate notes43,955 — (1,119)42,836 
Total held-to-maturity securities$2,942,363 $10,609 $(52,278)$2,900,694 
Less: Allowance for credit losses(78)
Held-to-maturity securities, net of allowance for credit losses$2,942,285 
Equity securities with readily determinable fair value$86,989 $5,354 $(1,832)$90,511 
(1)Consisting entirely of residential mortgage-backed securities, none of which are subprime.
March 31, 2021
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
(In thousands)
Available-for-sale securities
U.S. Treasury$64,999 $2 $— $65,001 
U.S. Government agencies77,908 3,618 — 81,526 
Municipal143,711 4,761 (172)148,300 
Corporate notes:
Financial issuers91,806 461 (935)91,332 
Other1,000 17 — 1,017 
Mortgage-backed: (1)
Mortgage-backed securities2,007,092 52,855 (26,038)2,033,909 
Collateralized mortgage obligations9,411 253 — 9,664 
Total available-for-sale securities$2,395,927 $61,967 $(27,145)$2,430,749 
Held-to-maturity securities
U.S. Government agencies$176,160 $1,644 $(7,230)$170,574 
Municipal197,865 10,713 (535)208,043 
Mortgage-backed: (1)
Mortgage-backed securities1,737,115 265 (49,114)1,688,266 
Collateralized mortgage obligations— — — — 
Corporate Notes55,378 — (1,196)54,182 
Total held-to-maturity securities$2,166,518 $12,622 $(58,075)$2,121,065 
Less: Allowance for credit losses(99)
Held-to-maturity securities, net of allowance for credit losses$2,166,419 
Equity securities with readily determinable fair value$86,121 $5,362 $(1,145)$90,338 
(1)Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Schedule of Investment Securities Portfolio Continuous Unrealized Loss Position, Available for Sale Debt Securities
The following table presents the portion of the Company’s available-for-sale investment securities portfolios that have gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at March 31, 2022:
Continuous unrealized
losses existing for
less than 12 months		Continuous unrealized
losses existing for
greater than 12 months		Total
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Available-for-sale securities
U.S. Treasury$— $— $— $— $— $— 
U.S. Government agencies9,271 (729)— — 9,271 (729)
Municipal92,896 (2,861)3,553 (232)96,449 (3,093)
Corporate notes:
Financial issuers20,814 (1,186)58,133 (3,861)78,947 (5,047)
Other991 (9)— — 991 (9)
Mortgage-backed:
Mortgage-backed securities2,078,794 (114,144)482,200 (63,755)2,560,994 (177,899)
Collateralized mortgage obligations93,256 (10,044)— — 93,256 (10,044)
Total available-for-sale securities$2,296,022 $(128,973)$543,886 $(67,848)$2,839,908 $(196,821)
Schedule of Gross Gains and Gross Losses Realized and Proceeds For Investment Securities
The following table provides information as to the amount of gross gains and losses, adjustments and impairment on investment securities recognized in earnings and proceeds received through the sale or call of investment securities:
Three months ended March 31,
(In thousands)20222021
Realized gains on investment securities$258 $216 
Realized losses on investment securities(8)(6)
Net realized gains on investment securities250 210 
Unrealized gains on equity securities with readily determinable fair value180 1,875 
Unrealized losses on equity securities with readily determinable fair value(2,641)(901)
Net unrealized (losses) gains on equity securities with readily determinable fair value(2,461)974 
Upward adjustments of equity securities without readily determinable fair values— — 
Downward adjustments of equity securities without readily determinable fair values— — 
Impairment of equity securities without readily determinable fair values(571)(30)
Adjustment and impairment, net, of equity securities without readily determinable fair values(571)(30)
(Losses) gains on investment securities, net$(2,782)$1,154 
Proceeds from sales of available-for-sale securities(1)
$— $— 
Proceeds from sales of equity securities with readily determinable fair value18,753 1,509 
Proceeds from sales and capital distributions of equity securities without readily determinable fair value250 386 
(1)Includes proceeds from available-for-sale securities sold in accordance with written covered call options sold to a third party.
Schedule of Contractual Maturities of Investment Securities
The amortized cost and fair value of available-for-sale and held-to-maturity investment securities as of March 31, 2022, December 31, 2021 and March 31, 2021, by contractual maturity, are shown in the following table. Contractual maturities may differ from actual maturities as borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Mortgage-backed securities are not included in the maturity categories in the following maturity summary as actual maturities may differ from contractual maturities because the underlying mortgages may be called or prepaid without penalties:
March 31, 2022December 31, 2021March 31, 2021
(In thousands)Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
Available-for-sale securities
Due in one year or less$48,130 $47,945 $49,714 $49,822 $100,140 $100,361 
Due in one to five years67,138 66,034 72,382 73,850 76,104 78,291 
Due in five to ten years110,960 105,670 118,358 117,573 110,125 110,928 
Due after ten years69,329 68,416 69,200 72,560 93,055 97,596 
Mortgage-backed2,898,184 2,710,833 2,006,715 2,013,988 2,016,503 2,043,573 
Total available-for-sale securities$3,193,741 $2,998,898 $2,316,369 $2,327,793 $2,395,927 $2,430,749 
Held-to-maturity securities
Due in one year or less$1,208 $1,213 $2,976 $2,992 $6,812 $6,863 
Due in one to five years83,085 80,210 79,422 79,705 50,318 50,734 
Due in five to ten years101,410 102,940 106,713 112,667 184,677 191,539 
Due after ten years303,290 275,270 222,522 221,358 187,596 183,663 
Mortgage-backed2,946,895 2,686,794 2,530,730 2,483,972 1,737,115 1,688,266 
Total held-to-maturity securities$3,435,888 $3,146,427 $2,942,363 $2,900,694 $2,166,518 $2,121,065 
Less: Allowance for credit losses(159)(78)(99)
Held-to-maturity securities, net of allowance for credit losses$3,435,729 $2,942,285 $2,166,419