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Fair Value of Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Summary Of The Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021:
Fair Value Measurements at Reporting Date Using
Balance as of March 31, 2022Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Description
(In thousands)
Assets
Securities available for sale
Government-sponsored residential mortgage-backed securities$4,969,346 $— $4,969,346 $— 
Government-sponsored commercial mortgage-backed securities1,615,927 — 1,615,927 — 
U.S. Agency bonds1,013,899 — 1,013,899 — 
U.S. Treasury securities56,235 56,235 — — 
State and municipal bonds and obligations260,316 — 260,316 — 
Other debt securities1,582 — 1,582 — 
Rabbi trust investments87,292 79,189 8,103 — 
Loans held for sale1,1661,166
Interest rate swap contracts
Customer-related positions23,725 — 23,725 — 
Risk participation agreements196 — 196 — 
Foreign currency forward contracts
Matched customer book91 — 91 — 
Foreign currency loan— — 
Mortgage derivatives239 — 239 — 
Total$8,030,021 $135,424 $7,894,597 $— 
Liabilities
Interest rate swap contracts
Customer-related positions$24,988 $— $24,988 $— 
Risk participation agreements401 401 
Foreign currency forward contracts
Matched customer book78 78 
Foreign currency loan16 16 
Mortgage derivatives168 — 168 — 
Total$25,651 $— $25,651 $— 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2021Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Securities available for sale
Government-sponsored residential mortgage-backed securities$5,524,708 $— $5,524,708 $— 
Government-sponsored commercial mortgage-backed securities1,408,868 — 1,408,868 — 
U.S. Agency bonds1,175,014 — 1,175,014 — 
U.S. Treasury securities88,605 88,605 — — 
State and municipal bonds and obligations280,329 — 280,329 — 
Small Business Administration pooled securities32,103 — 32,103 — 
Other debt securities1,597 — 1,597 — 
Rabbi trust investments104,372 96,190 8,182 — 
Loans held for sale1,2061,206
Interest rate swap contracts
Customer-related positions64,338 — 64,338 — 
Risk participation agreements315 — 315 — 
Foreign currency forward contracts
Matched customer book61 — 61 — 
Mortgage derivatives256 — 256 — 
Total$8,681,772 $184,795 $8,496,977 $— 
Liabilities
Interest rate swap contracts
Customer-related positions$17,880 $— $17,880 $— 
Risk participation agreements580 — 580 — 
Foreign currency forward contracts
Matched customer book46 — 46 — 
Foreign currency loan87 — 87 — 
Mortgage derivatives16 — 16 — 
Total$18,609 $— $18,609 $— 
Summary Of The Fair Value Of Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis The following tables summarize the fair value of assets and liabilities measured at fair value on a nonrecurring basis, as of March 31, 2022 and December 31, 2021.
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of March 31, 2022Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Individually assessed collateral-dependent loans whose fair value is based upon appraisals$11,879 $— $— $11,879 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2021Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Collateral-dependent impaired loans whose fair value is based upon appraisals
$12,068 $— $— $12,068 
Fair Value, by Balance Sheet Grouping The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated:
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of March 31, 2022Fair Value as of March 31, 2022Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Held to maturity securities:
Government-sponsored residential mortgage-backed securities$192,231 $188,913 $— $188,913 $— 
Government-sponsored commercial mortgage-backed securities203,203 203,210 — 203,210 — 
Loans, net of allowance for loan losses12,033,603 11,817,706 — — 11,817,706 
FHLB stock10,904 10,904 — 10,904 — 
Bank-owned life insurance157,954 157,954 — 157,954 — 
Liabilities
Deposits$19,392,816 $19,387,023 $— $19,387,023 $— 
FHLB advances13,689 12,767 — 12,767 — 
Escrow deposits from borrowers21,233 21,233 — 21,233 — 
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of December 31, 2021Fair Value as of December 31, 2021Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Loans, net of allowance for loan losses$12,157,281 $12,282,323 $— $— $12,282,323 
FHLB stock10,904 10,904 — 10,904 — 
Bank-owned life insurance157,091 157,091 — 157,091 — 
Liabilities
Deposits$19,628,311 $19,626,376 $— $19,626,376 $— 
FHLB advances14,020 13,558 — 13,558 — 
Escrow deposits from borrowers20,258 20,258 — 20,258 —