XML 51 R35.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule 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 June 30, 2024 and December 31, 2023:
Fair Value Measurements at Reporting Date Using
Balance as of June 30, 2024Quoted 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$2,597,550 $— $2,597,550 $— 
Government-sponsored commercial mortgage-backed securities1,090,894 — 1,090,894 — 
U.S. Agency bonds130,238 — 130,238 — 
U.S. Treasury securities95,554 95,554 — — 
State and municipal bonds and obligations183,606 — 183,606 — 
Rabbi trust investments94,424 86,874 7,550 — 
Loans held for sale1,308—1,308—
Interest rate swap contracts:
Cash flow hedges - interest rate positions10 — 10 — 
Customer-related positions19,240 — 19,240 — 
Risk participation agreements5 — 5 — 
Foreign currency forward contracts:
Matched customer book616 — 616 — 
Foreign currency loan38 — 38 — 
Mortgage derivatives41 — 41 — 
Total$4,213,524 $182,428 $4,031,096 $— 
Liabilities
Interest rate swap contracts:
Cash flow hedges - interest rate positions$241 $— $241 $— 
Customer-related positions67,944 — 67,944 — 
Risk participation agreements2 —2 —
Foreign currency forward contracts:
Matched customer book626 —626 —
Foreign currency loan14 —14 —
Mortgage derivatives85 — 85 — 
Total$68,912 $— $68,912 $— 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2023Quoted 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$2,780,638 $— $2,780,638 $— 
Government-sponsored commercial mortgage-backed securities1,124,376 — 1,124,376 — 
U.S. Agency bonds216,011 — 216,011 — 
U.S. Treasury securities95,152 95,152 — — 
State and municipal bonds and obligations191,344 — 191,344 — 
Rabbi trust investments87,435 81,278 6,157 — 
Loans held for sale1,124—1,124—
Interest rate swap contracts:
Cash flow hedges - interest rate positions10 — 10 — 
Customer-related positions19,535 — 19,535 — 
Risk participation agreements151 — 151 — 
Foreign currency forward contracts:
Matched customer book760 — 760 — 
Mortgage derivatives69 — 69 — 
Total$4,516,605 $176,430 $4,340,175 $— 
Liabilities
Interest rate swap contracts:
Cash flow hedges - interest rate positions$893 $— $893 $— 
Customer-related positions61,217 — 61,217 — 
Risk participation agreements106 — 106 — 
Foreign currency forward contracts:
Matched customer book672 — 672 — 
Foreign currency loan187 — 187 — 
Mortgage derivatives36 — 36 — 
Total$63,111 $— $63,111 $— 
Schedule 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 June 30, 2024 and December 31, 2023.
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of June 30, 2024Quoted 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$21,276 $— $— $21,276 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2023Quoted 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$27,874 $— $— $27,874 
Schedule of 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 June 30, 2024Fair Value as of June 30, 2024Quoted 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$243,919 $214,481 $— $214,481 $— 
Government-sponsored commercial mortgage-backed securities192,793 170,917 — 170,917 — 
Loans, net of allowance for loan losses13,953,773 13,245,517 — — 13,245,517 
FHLB stock5,879 5,879 — 5,879 — 
Bank-owned life insurance166,710 166,710 — 166,710 — 
Liabilities
Deposits$17,537,809 $17,530,331 $— $17,530,331 $— 
FHLB advances17,415 15,085 — 15,085 — 
Escrow deposits of borrowers20,155 20,155 — 20,155 — 
Interest rate swap collateral funds11,370 11,370 — 11,370 — 
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of December 31, 2023Fair Value as of December 31, 2023Quoted 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$254,752 $230,319 $— $230,319 $— 
Government-sponsored commercial mortgage-backed securities194,969 174,503 — 174,503 — 
Loans, net of allowance for loan losses13,799,367 13,145,455 — — 13,145,455 
FHLB stock5,904 5,904 — 5,904 — 
Bank-owned life insurance164,702 164,702 — 164,702 — 
Liabilities
Deposits$17,596,217 $17,593,214 $— $17,593,214 $— 
FHLB advances17,738 15,366 — 15,366 — 
Escrow deposits of borrowers21,978 21,978 — 21,978 — 
Interest rate swap collateral funds8,500 8,500 — 8,500 —