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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 is as follows:
 December 31, 2024December 31, 2023
(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$37,858 $49 $— $37,907 $6,960 $8 $— $6,968 
U.S. government agencies50,000 — (5,055)44,945 50,000 — (4,876)45,124 
Municipal188,405 528 (4,340)184,593 144,299 657 (3,998)140,958 
Corporate notes:
Financial issuers83,997 — (3,828)80,169 83,996 — (8,456)75,540 
Other1,000 — (7)993 1,000 — (9)991 
Mortgage-backed: (1)
Residential mortgage-backed securities4,106,641 284 (553,287)3,553,638 3,505,012 1,392 (446,784)3,059,620 
Commercial (multi-family) mortgage-baked securities19,064 23 (755)18,332 13,201 68 (289)12,980 
Collateralized mortgage obligations238,574 1,187 (18,856)220,905 175,346 1,400 (16,012)160,734 
Total available-for-sale securities$4,725,539 $2,071 $(586,128)$4,141,482 $3,979,814 $3,525 $(480,424)$3,502,915 
Held-to-maturity securities
U.S. government agencies$313,539 $— $(69,127)$244,412 $336,468 $— $(67,058)$269,410 
Municipal161,016 243 (5,290)155,969 172,933 565 (3,778)169,720 
Mortgage-backed: (1)
Residential mortgage-backed securities2,864,927 — (605,014)2,259,913 3,042,828 1,922 (549,265)2,495,485 
Commercial (multi-family) mortgage-backed securities6,364 — (252)6,112 6,415 — (184)6,231 
Collateralized mortgage obligations211,023 815 (22,683)189,155 241,075 978 (21,502)220,551 
Corporate notes56,851 8 (1,870)54,989 57,544 7 (3,480)54,071 
Total held-to-maturity securities$3,613,720 $1,066 $(704,236)$2,910,550 $3,857,263 $3,472 $(645,267)$3,215,468 
Less: Allowance for credit losses(457)(347)
Held-to-maturity securities, net of allowance for credit losses$3,613,263 $3,856,916 
Equity securities with readily determinable fair value $220,758 $2,905 $(8,251)$215,412 $143,312 $3,500 $(7,544)$139,268 
(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, 2024 and 2023, respectively:
 
As of December 31, 2024
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$44,945 $(5,055)$— $— $44,945 $(5,055)
Municipal52,344 (3,536)83,517 (804)135,861 (4,340)
Corporate notes:
Financial issuers80,169 (3,828)— — 80,169 (3,828)
Other993 (7)— — 993 (7)
Mortgage-backed: (1)
Residential mortgage-backed securities2,212,780 (519,164)1,327,534 (34,123)3,540,314 (553,287)
Commercial (multi-family) mortgage backed securities3,134 (390)12,204 (365)15,338 (755)
Collateralized mortgage obligations65,874 (18,841)7,428 (15)73,302 (18,856)
Total available-for-sale securities$2,460,239 $(550,821)$1,430,683 $(35,307)$3,890,922 $(586,128)
(1)None of our mortgage-backed securities are subprime.
As of December 31, 2023
Continuous unrealized
losses existing for less
than 12 months		Continuous unrealized
losses existing for
greater than 12 months		Total
(In thousands)
Fair valueUnrealized
losses		Fair valueUnrealized
losses		Fair valueUnrealized
losses
Available-for-sale securities
U.S. government agencies$— $— $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)
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.
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)
202420232022
Realized gains on investment securities$2,704 $1,136 $461 
Realized losses on investment securities(276)(71)(22)
Net realized gains on investment securities2,428 1,065 439 
Unrealized gains on equity securities with readily determinable fair value4,451 5,428 1,154 
Unrealized losses on equity securities with readily determinable fair value(5,751)(4,280)(9,862)
Net unrealized (losses) gains on equity securities with readily determinable fair value(1,300)1,148 (8,708)
Impairment of equity securities without readily determinable fair values(3,730)(688)(12,158)
Adjustment and impairment, net, of equity securities without readily determinable fair values(3,730)(688)(12,158)
(Losses) gains on investment securities, net$(2,602)$1,525 $(20,427)
Proceeds from sales of equity securities with readily determinable fair value$51,792 $23,592 $31,753 
Proceeds from sales and capital distributions of equity securities without readily determinable fair value2,226 67 1,330 
Schedule of Contractual Maturities of Investment Securities
The amortized cost and fair value of investment securities as of December 31, 2024 and December 31, 2023, 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, 2024December 31, 2023
(In thousands)
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Available-for-sale securities
Due in one year or less$89,578 $89,392 $53,162 $52,945 
Due in one to five years157,883 153,325 132,348 123,985 
Due in five to ten years89,125 84,240 82,040 76,869 
Due after ten years24,674 21,650 18,705 15,782 
Mortgage-backed4,364,279 3,792,875 3,693,559 3,233,334 
Total available-for-sale securities$4,725,539 $4,141,482 $3,979,814 $3,502,915 
Held-to-maturity securities
Due in one year or less$18,929 $18,658 $5,169 $5,142 
Due in one to five years110,897 108,056 109,602 105,835 
Due in five to ten years71,846 70,277 99,700 98,718 
Due after ten years329,734 258,379 352,474 283,506 
Mortgage-backed3,082,314 2,455,180 3,290,318 2,722,267 
Total held-to-maturity securities$3,613,720 $2,910,550 $3,857,263 $3,215,468 
Less: Allowance for credit losses(457)(347)
Held-to-maturity securities, net of allowance for credit losses$3,613,263 $3,856,916