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Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Securities [Abstract]  
Debt Securities, Available-for-Sale
The amortized cost, gross unrealized gains and losses, allowance for credit losses (“ACL”) and fair value of AFS securities as of the dates indicated were as follows:
As of June 30, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$3,470,727 $— $(579,663)$— $2,891,064 
Government-sponsored commercial mortgage-backed securities1,354,187 — (214,027)— 1,140,160 
U.S. Agency bonds235,844 — (25,774)— 210,070 
U.S. Treasury securities99,437 — (6,355)— 93,082 
State and municipal bonds and obligations197,994 15 (12,192)— 185,817 
Other debt securities100 — — — 100 
$5,358,289 $15 $(838,011)$— $4,520,293 
As of December 31, 2022
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$4,855,763 $— $(743,855)$— $4,111,908 
Government-sponsored commercial mortgage-backed securities1,570,119 — (221,165)— 1,348,954 
U.S. Agency bonds1,100,891 — (148,409)— 952,482 
U.S. Treasury securities99,324 — (6,267)— 93,057 
State and municipal bonds and obligations198,039 9 (14,956)— 183,092 
Other debt securities1,299 — (14)— 1,285 
$7,825,435 $9 $(1,134,666)$— $6,690,778 
Schedule of Realized Gain (Loss)
The following table summarizes gross realized gains and losses from sales of AFS securities for the periods indicated:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(In thousands)
Gross realized gains from sales of AFS securities$— $— $— $1,045 
Gross realized losses from sales of AFS securities— (104)(333,170)(3,321)
Net (losses) gains from sales of AFS securities$— $(104)$(333,170)$(2,276)
Summary of Government-Sponsored Residential Mortgage-Backed Securities with Gross Unrealized Losses Information pertaining to AFS securities with gross unrealized losses as of June 30, 2023 and December 31, 2022, for which the Company did not recognize a provision for credit losses under the current expected credit loss methodology
(“CECL”), aggregated by investment category and length of time that individual securities had been in a continuous loss position, is as follows:
As of June 30, 2023
Less than 12 Months12 Months or LongerTotal
# of
Holdings		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value
(Dollars in thousands)
Government-sponsored residential mortgage-backed securities324$5,254 $79,823 $574,409 $2,811,241 $579,663 $2,891,064 
Government-sponsored commercial mortgage-backed securities188— — 214,027 1,140,160 214,027 1,140,160 
U.S. Agency bonds23— — 25,774 210,070 25,774 210,070 
U.S. Treasury securities6519 19,364 5,836 73,718 6,355 93,082 
State and municipal bonds and obligations2342,521 74,764 9,671 103,742 12,192 178,506 
775$8,294 $173,951 $829,717 $4,338,931 $838,011 $4,512,882 
As of December 31, 2022
Less than 12 Months12 Months or LongerTotal
# of
Holdings		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value
(Dollars in thousands)
Government-sponsored residential mortgage-backed securities322$42,196 $435,690 $701,659 $3,676,218 $743,855 $4,111,908 
Government-sponsored commercial mortgage-backed securities19938,944 300,476 182,221 1,048,478 221,165 1,348,954 
U.S. Agency bonds37645 4,145 147,764 948,337 148,409 952,482 
U.S. Treasury securities51,311 48,451 4,956 44,606 6,267 93,057 
State and municipal bonds and obligations23714,942 179,614 14 225 14,956 179,839 
Other debt securities2— — 14 1,285 14 1,285 
802$98,038 $968,376 $1,036,628 $5,719,149 $1,134,666 $6,687,525 
Debt Securities, Held-to-Maturity
The amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of HTM securities as of the dates indicated were as follows:
As of June 30, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$266,140 $— $(28,001)$— $238,139 
Government-sponsored commercial mortgage-backed securities198,921 — (24,196)— 174,725 
$465,061 $— $(52,197)$— $412,864 
As of December 31, 2022
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$276,493 $— $(30,150)$— $246,343 
Government-sponsored commercial mortgage-backed securities200,154 — (23,271)— 176,883 
$476,647 $— $(53,421)$— $423,226 
Summary of Fair Value of Available for Sale Securities by Contractual Maturities The scheduled contractual maturities of AFS and HTM securities as of the dates indicated were as follows:
As of June 30, 2023
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $20,580 $19,521 $38,751 $35,949 $3,411,396 $2,835,594 $3,470,727 $2,891,064 
Government-sponsored commercial mortgage-backed securities— — 135,485 121,687 507,668 435,327 711,034 583,146 1,354,187 1,140,160 
U.S. Agency bonds— — 201,915 180,538 33,929 29,532 — — 235,844 210,070 
U.S. Treasury securities— — 99,437 93,082 — — — — 99,437 93,082 
State and municipal bonds and obligations211 209 28,027 26,725 43,778 42,353 125,978 116,530 197,994 185,817 
Other debt securities100 100 — — — — — — 100 100 
Total available for sale securities311 309 485,444 441,553 624,126 543,161 4,248,408 3,535,270 5,358,289 4,520,293 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 266,140 238,139 266,140 238,139 
Government-sponsored commercial mortgage-backed securities— — — — 198,921 174,725 — — 198,921 174,725 
Total held to maturity securities— — — — 198,921 174,725 266,140 238,139 465,061 412,864 
Total$311 $309 $485,444 $441,553 $823,047 $717,886 $4,514,548 $3,773,409 $5,823,350 $4,933,157 
As of December 31, 2022
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $21,221 $20,284 $727,908 $648,132 $4,106,634 $3,443,492 $4,855,763 $4,111,908 
Government-sponsored commercial mortgage-backed securities— — 191,762 171,992 649,659 556,641 728,698 620,321 1,570,119 1,348,954 
U.S. Agency bonds— — 877,371 767,464 223,520 185,018 — — 1,100,891 952,482 
U.S. Treasury securities— — 99,324 93,057 — — — — 99,324 93,057 
State and municipal bonds and obligations213 209 22,100 21,283 42,554 40,970 133,172 120,630 198,039 183,092 
Other debt securities1,299 1,285 — — — — — — 1,299 1,285 
Total available for sale securities1,512 1,494 1,211,778 1,074,080 1,643,641 1,430,761 4,968,504 4,184,443 7,825,435 6,690,778 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 276,493 246,343 276,493 246,343 
Government-sponsored commercial mortgage-backed securities— — — — 200,154 176,883 0— — 200,154 176,883 
Total held to maturity securities— — — — 200,154 176,883 276,493 246,343 476,647 423,226 
Total$1,512 $1,494 $1,211,778 $1,074,080 $1,843,795 $1,607,644 $5,244,997 $4,430,786 $8,302,082 $7,114,004