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Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The amortized cost, gross unrealized gains and losses, allowance for credit losses (“ACL”) and fair value of available for sale (“AFS”) securities as of the dates indicated were as follows:
As of June 30, 2024
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$3,148,711 $— $(551,161)$— $2,597,550 
Government-sponsored commercial mortgage-backed securities1,302,782 — (211,888)— 1,090,894 
U.S. Agency bonds144,227 — (13,989)— 130,238 
U.S. Treasury securities99,667 — (4,113)— 95,554 
State and municipal bonds and obligations197,669 — (14,063)— 183,606 
$4,893,056 $— $(795,214)$— $4,097,842 
As of December 31, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$3,302,165 $— $(521,527)$— $2,780,638 
Government-sponsored commercial mortgage-backed securities1,326,029 — (201,653)— 1,124,376 
U.S. Agency bonds236,454 — (20,443)— 216,011 
U.S. Treasury securities99,552 — (4,400)— 95,152 
State and municipal bonds and obligations197,704 172 (6,532)— 191,344 
$5,161,904 $172 $(754,555)$— $4,407,521 
Schedule of Realized Gain (Loss)
The following table summarizes gross realized gains and losses from sales of AFS securities for the periods indicated:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In thousands)
Gross realized gains from sales of AFS securities$— $— $— $— 
Gross realized losses from sales of AFS securities(7,557)— (7,557)(333,170)
Net losses from sales of AFS securities$(7,557)$— $(7,557)$(333,170)
Schedule of Government-Sponsored Residential Mortgage-Backed Securities with Gross Unrealized Losses
Information pertaining to AFS securities with gross unrealized losses as of June 30, 2024 and December 31, 2023, 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, 2024
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$— $— $551,161 $2,597,550 $551,161 $2,597,550 
Government-sponsored commercial mortgage-backed securities187— — 211,888 1,090,894 211,888 1,090,894 
U.S. Agency bonds14— — 13,989 130,238 13,989 130,238 
U.S. Treasury securities6— — 4,113 95,554 4,113 95,554 
State and municipal bonds and obligations2401,312 32,451 12,751 151,155 14,063 183,606 
771$1,312 $32,451 $793,902 $4,065,391 $795,214 $4,097,842 
As of December 31, 2023
Less than 12 Months12 Months or LongerTotal
# of
Holdings		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value
(Dollars in thousands)
Government-sponsored residential mortgage-backed securities324$— $— $521,527 $2,780,638 $521,527 $2,780,638 
Government-sponsored commercial mortgage-backed securities187— — 201,653 1,124,376 201,653 1,124,376 
U.S. Agency bonds23— — 20,443 216,011 20,443 216,011 
U.S. Treasury securities636 4,927 4,364 90,225 4,400 95,152 
State and municipal bonds and obligations196233 22,894 6,299 135,279 6,532 158,173 
736$269 $27,821 $754,286 $4,346,529 $754,555 $4,374,350 
Schedule of Debt Securities, Held-to-Maturity
The amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of held to maturity (“HTM”) securities as of the dates indicated were as follows:
As of June 30, 2024
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$243,919 $— $(29,438)$— $214,481 
Government-sponsored commercial mortgage-backed securities192,793 — (21,876)— 170,917 
$436,712 $— $(51,314)$— $385,398 
As of December 31, 2023
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$254,752 $— $(24,433)$— $230,319 
Government-sponsored commercial mortgage-backed securities194,969 — (20,466)— 174,503 
$449,721 $— $(44,899)$— $404,822 
Schedule of Fair Value of Available for Sale Securities by Contractual Maturities The scheduled contractual maturities of AFS and HTM securities as of the dates indicated were as follows:
As of June 30, 2024
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $27,804 $26,680 $15,471 $14,222 $3,105,436 $2,556,648 $3,148,711 $2,597,550 
Government-sponsored commercial mortgage-backed securities— — 403,508 364,695 224,736 187,823 674,538 538,376 1,302,782 1,090,894 
U.S. Agency bonds— — 144,227 130,238 — — — — 144,227 130,238 
U.S. Treasury securities29,964 29,383 69,703 66,171 — — — — 99,667 95,554 
State and municipal bonds and obligations3,299 3,240 33,012 31,373 47,707 44,979 113,651 104,014 197,669 183,606 
Total available for sale securities33,263 32,623 678,254 619,157 287,914 247,024 3,893,625 3,199,038 4,893,056 4,097,842 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 243,919 214,481 243,919 214,481 
Government-sponsored commercial mortgage-backed securities— — 135,611 121,904 57,182 49,013 — — 192,793 170,917 
Total held to maturity securities— — 135,611 121,904 57,182 49,013 243,919 214,481 436,712 385,398 
Total$33,263 $32,623 $813,865 $741,061 $345,096 $296,037 $4,137,544 $3,413,519 $5,329,768 $4,483,240 
As of December 31, 2023
Due in one year or lessDue after one year to five yearsDue after five to ten yearsDue after ten yearsTotal
Amortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair ValueAmortized CostFair Value
(In thousands)
AFS securities
Government-sponsored residential mortgage-backed securities$— $— $29,288 $28,188 $22,735 $21,235 $3,250,142 $2,731,215 $3,302,165 $2,780,638 
Government-sponsored commercial mortgage-backed securities— — 256,229 234,725 379,749 327,198 690,051 562,453 1,326,029 1,124,376 
U.S. Agency bonds— — 236,454 216,011 — — — — 236,454 216,011 
U.S. Treasury securities— — 99,552 95,152 — — — — 99,552 95,152 
State and municipal bonds and obligations213 209 30,131 29,393 44,047 43,260 123,313 118,482 197,704 191,344 
Total available for sale securities213 209 651,654 603,469 446,531 391,693 4,063,506 3,412,150 5,161,904 4,407,521 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 254,752 230,319 254,752 230,319 
Government-sponsored commercial mortgage-backed securities— — 80,014 72,952 114,955 101,551 0— — 194,969 174,503 
Total held to maturity securities— — 80,014 72,952 114,955 101,551 254,752 230,319 449,721 404,822 
Total$213 $209 $731,668 $676,421 $561,486 $493,244 $4,318,258 $3,642,469 $5,611,625 $4,812,343