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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2023 and 2022 is as follows:
 December 31, 2023December 31, 2022
(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$6,960 $8 $— $6,968 $14,943 $5 $— $14,948 
U.S. government agencies50,000 — (4,876)45,124 80,000 36 (5,814)74,222 
Municipal144,299 657 (3,998)140,958 173,861 230 (5,436)168,655 
Corporate notes:
Financial issuers83,996 — (8,456)75,540 93,994 — (9,291)84,703 
Other1,000 — (9)991 1,000 2 — 1,002 
Mortgage-backed: (1)
Residential mortgage-backed securities3,505,012 1,392 (446,784)3,059,620 3,308,494 238 (488,795)2,819,937 
Commercial (multi-family) mortgage-baked securities13,201 68 (289)12,980 — — — — 
Collateralized mortgage obligations175,346 1,400 (16,012)160,734 97,342 — (17,792)79,550 
Total available-for-sale securities$3,979,814 $3,525 $(480,424)$3,502,915 $3,769,634 $511 $(527,128)$3,243,017 
Held-to-maturity securities
U.S. government agencies$336,468 $— $(67,058)$269,410 $339,614 $— $(75,293)$264,321 
Municipal172,933 565 (3,778)169,720 179,027 477 (4,066)175,438 
Mortgage-backed: (1)
Residential mortgage-backed securities3,042,828 1,922 (549,265)2,495,485 2,900,031 — (583,682)2,316,349 
Commercial (multi-family) mortgage-backed securities6,415 — (184)6,231 — — — — 
Collateralized mortgage obligations241,075 978 (21,502)220,551 164,151 — (23,322)140,829 
Corporate notes57,544 7 (3,480)54,071 58,232 — (5,348)52,884 
Total held-to-maturity securities$3,857,263 $3,472 $(645,267)$3,215,468 $3,641,055 $477 $(691,711)$2,949,821 
Less: Allowance for credit losses(347)(488)
Held-to-maturity securities, net of allowance for credit losses$3,856,916 $3,640,567 
Equity securities with readily determinable fair value $143,312 $3,500 $(7,544)$139,268 $115,552 $2,935 $(8,122)$110,365 
(1)None of our mortgage-backed securities are subprime.
Schedule of Available-for-sale Investment Securities Portfolios
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, 2023 and 2022, respectively:
 
As of December 31, 2023
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. government agencies$— $— $45,124 $(4,876)$45,124 $(4,876)
Municipal36,519 (513)58,216 (3,485)94,735 (3,998)
Corporate notes:
Financial issuers— — 75,540 (8,456)75,540 (8,456)
Other991 (9)— — 991 (9)
Mortgage-backed: (1)
Residential mortgage-backed securities333,879 (1,170)2,374,724 (445,614)2,708,603 (446,784)
Commercial (multi-family) mortgage backed securities9,953 (289)— — 9,953 (289)
Collateralized mortgage obligations— — 75,101 (16,012)75,101 (16,012)
Total available-for-sale securities$381,342 $(1,981)$2,628,705 $(478,443)$3,010,047 $(480,424)
(1)None of our mortgage-backed securities are subprime.
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. government agencies$36,750 $(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.
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:
 Years Ended December 31,
(In thousands)
202320222021
Realized gains on investment securities$1,136 $461 $1,252 
Realized losses on investment securities(71)(22)(173)
Net realized gains on investment securities1,065 439 1,079 
Unrealized gains on equity securities with readily determinable fair value5,428 1,154 2,688 
Unrealized losses on equity securities with readily determinable fair value(4,280)(9,862)(2,411)
Net unrealized gains (losses) on equity securities with readily determinable fair value1,148 (8,708)277 
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(688)(12,158)(2,415)
Adjustment and impairment, net, of equity securities without readily determinable fair values(688)(12,158)(2,415)
Gains (losses) on investment securities, net$1,525 $(20,427)$(1,059)
Proceeds from sales of equity securities with readily determinable fair value$23,592 $31,753 $9,759 
Proceeds from sales and capital distributions of equity securities without readily determinable fair value67 1,330 2,685 
Schedule of Contractual Maturities of Investment Securities
The amortized cost and fair value of investment securities as of December 31, 2023 and December 31, 2022, 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, 2023December 31, 2022
(In thousands)
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Available-for-sale securities
Due in one year or less$53,162 $52,945 $119,830 $119,275 
Due in one to five years132,348 123,985 63,644 61,701 
Due in five to ten years82,040 76,869 115,734 105,076 
Due after ten years18,705 15,782 64,590 57,478 
Mortgage-backed3,693,559 3,233,334 3,405,836 2,899,487 
Total available-for-sale securities$3,979,814 $3,502,915 $3,769,634 $3,243,017 
Held-to-maturity securities
Due in one year or less$5,169 $5,142 $1,340 $1,332 
Due in one to five years109,602 105,835 94,705 89,093 
Due in five to ten years99,700 98,718 115,318 113,758 
Due after ten years352,474 283,506 365,510 288,460 
Mortgage-backed3,290,318 2,722,267 3,064,182 2,457,178 
Total held-to-maturity securities$3,857,263 $3,215,468 $3,641,055 $2,949,821 
Less: Allowance for credit losses(347)(488)
Held-to-maturity securities, net of allowance for credit losses$3,856,916 $3,640,567