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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
A summary of the available-for-sale and held-to-maturity investment securities portfolios presenting carrying amounts and gross unrealized gains and losses as of December 31, 2022 and 2021 is as follows:
 December 31, 2022December 31, 2021
(In thousands)Amortized
Cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair ValueAmortized
Cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair Value
Available-for-sale securities
U.S. Treasury$14,943 $5 $— $14,948 $— $— $— $— 
U.S. government agencies80,000 36 (5,814)74,222 50,158 2,349 — 52,507 
Municipal173,861 230 (5,436)168,655 161,618 4,193 (217)165,594 
Corporate notes:
Financial issuers93,994 — (9,291)84,703 96,878 418 (2,599)94,697 
Other1,000 2 — 1,002 1,000 7 — 1,007 
Mortgage-backed: (1)
Mortgage-backed securities3,308,494 238 (488,795)2,819,937 1,901,005 32,830 (25,854)1,907,981 
Collateralized mortgage obligations97,342 — (17,792)79,550 105,710 297 — 106,007 
Total available-for-sale securities$3,769,634 $511 $(527,128)$3,243,017 $2,316,369 $40,094 $(28,670)$2,327,793 
Held-to-maturity securities
U.S. government agencies$339,614 $— $(75,293)$264,321 $180,192 $201 $(3,314)$177,079 
Municipal179,027 477 (4,066)175,438 187,486 9,544 (223)196,807 
Mortgage-backed: (1)
Mortgage-backed securities2,900,031 — (583,682)2,316,349 2,530,730 864 (47,622)2,483,972 
Collateralized mortgage obligations164,151 — (23,322)140,829 — — — — 
Corporate notes58,232 — (5,348)52,884 43,955 — (1,119)42,836 
Total held-to-maturity securities$3,641,055 $477 $(691,711)$2,949,821 $2,942,363 $10,609 $(52,278)$2,900,694 
Less: Allowance for credit losses(488)(78)
Held-to-maturity securities, net of allowance for credit losses$3,640,567 $2,942,285 
Equity securities with readily determinable fair value $115,552 $2,935 $(8,122)$110,365 $86,989 $5,354 $(1,832)$90,511 
(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 tables present the portion of the Company’s available-for-sale investment securities portfolios which had gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and 2021, respectively:
 
As of December 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
losses		Fair valueUnrealized
losses		Fair valueUnrealized
losses
Available-for-sale securities
U.S. Treasury$— $— $— $— $— $— 
U.S. government agencies36,750 (3,250)7,436 (2,564)44,186 (5,814)
Municipal88,433 (1,997)41,642 (3,439)130,075 (5,436)
Corporate notes:
Financial issuers14,420 (580)70,283 (8,711)84,703 (9,291)
Other— — — — — — 
Mortgage-backed: (1)
Mortgage-backed securities1,185,885 (99,494)1,578,200 (389,301)2,764,085 (488,795)
Collateralized mortgage obligations2,690 (190)76,860 (17,602)79,550 (17,792)
Total available-for-sale securities$1,328,178 $(105,511)$1,774,421 $(421,617)$3,102,599 $(527,128)
(1)Consisting entirely of residential mortgage-backed securities, none of which are subprime.
As of December 31, 2021
Continuous unrealized
losses existing for less
than 12 months		Continuous unrealized
losses existing for
greater than 12 months		Total
(In thousands)Fair valueUnrealized
losses		Fair valueUnrealized
losses		Fair valueUnrealized
losses
Available-for-sale securities
U.S. Treasury$— $— $— $— $— $— 
U.S. government agencies— — — — — — 
Municipal47,726 (200)850 (17)48,576 (217)
Corporate notes:
Financial issuers23,855 (1,145)45,539 (1,454)69,394 (2,599)
Other— — — — — — 
Mortgage-backed: (1)
Mortgage-backed securities742,743 (16,571)221,350 (9,283)964,093 (25,854)
Collateralized mortgage obligations— — — — — — 
Total available-for-sale securities$814,324 $(17,916)$267,739 $(10,754)$1,082,063 $(28,670)
(1)Consisting entirely of residential mortgage-backed securities, none of which are subprime.
Schedule of Gross Gains and Gross Losses Realized and Proceeds For Investment Securities
 Years Ended December 31,
(In thousands)202220212020
Realized gains on investment securities$461 $1,252 $751 
Realized losses on investment securities(22)(173)(530)
Net realized gains on investment securities439 1,079 221 
Unrealized gains on equity securities with readily determinable fair value1,154 2,688 4,265 
Unrealized losses on equity securities with readily determinable fair value(9,862)(2,411)(3,818)
Net unrealized (losses) gains on equity securities with readily determinable fair value(8,708)277 447 
Upward adjustments of equity securities without readily determinable fair values— — 401 
Downward adjustments of equity securities without readily determinable fair values— — — 
Impairment of equity securities without readily determinable fair values(12,158)(2,415)(2,995)
Adjustment and impairment, net, of equity securities without readily determinable fair values(12,158)(2,415)(2,594)
Losses on investment securities, net$(20,427)$(1,059)$(1,926)
Proceeds from sales of available-for-sale securities(1)
$— $192,227 $502,250 
Proceeds from sales of equity securities with readily determinable fair value31,753 9,759 6,530 
Proceeds from sales and capital distributions of equity securities without readily determinable fair value1,330 2,685 1,857 
(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 investment securities as of December 31, 2022 and December 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:
 
 December 31, 2022December 31, 2021
(In thousands)Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Available-for-sale securities
Due in one year or less$119,830 $119,275 $49,714 $49,822 
Due in one to five years63,644 61,701 72,382 73,850 
Due in five to ten years115,734 105,076 118,358 117,573 
Due after ten years64,590 57,478 69,200 72,560 
Mortgage-backed3,405,836 2,899,487 2,006,715 2,013,988 
Total available-for-sale securities$3,769,634 $3,243,017 $2,316,369 $2,327,793 
Held-to-maturity securities
Due in one year or less$1,340 $1,332 $2,976 $2,992 
Due in one to five years94,705 89,093 79,422 79,705 
Due in five to ten years115,318 113,758 106,713 112,667 
Due after ten years365,510 288,460 222,522 221,358 
Mortgage-backed3,064,182 2,457,178 2,530,730 2,483,972 
Total held-to-maturity securities$3,641,055 $2,949,821 $2,942,363 $2,900,694 
Less: Allowance for credit losses(488)(78)
Held-to-maturity securities, net of allowance for credit losses$3,640,567 $2,942,285