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Securities (Tables)
 3 Months Ended
Mar. 31, 2025
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 March 31, 2025
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$2,941,128 $8,868 $(302,358)$— $2,647,638 
Government-sponsored commercial mortgage-backed securities1,180,724 5,087 (109,042)— 1,076,769 
U.S. Treasury securities100,019 195 (95)— 100,119 
State and municipal bonds and obligations196,037 — (16,634)— 179,403 
$4,417,908 $14,150 $(428,129)$— $4,003,929 
As of December 31, 2024
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$3,099,328 $— $(537,433)$— $2,561,895 
Government-sponsored commercial mortgage-backed securities1,362,519 — (201,408)— 1,161,111 
U.S. Agency bonds19,608 — (1,936)— 17,672 
U.S. Treasury securities99,784 — (2,165)— 97,619 
State and municipal bonds and obligations197,405 — (14,104)— 183,301 
$4,778,644 $— $(757,046)$— $4,021,598 
Schedule of Realized Gain (Loss)
The following table summarizes gross realized gains and losses from sales of AFS securities for the periods indicated:
Three Months Ended March 31,
20252024
(In thousands)
Gross realized gains from sales of AFS securities$— $— 
Gross realized losses from sales of AFS securities(269,638)— 
Net losses from sales of AFS securities$(269,638)$— 
Schedule of Government-Sponsored Residential Mortgage-Backed Securities with Gross Unrealized Losses
Information pertaining to AFS securities with gross unrealized losses as of March 31, 2025 and December 31, 2024, 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 March 31, 2025
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 securities299$898 $268,473 $301,460 $1,614,229 $302,358 $1,882,702 
Government-sponsored commercial mortgage-backed securities149— — 109,042 631,365 109,042 631,365 
U.S. Treasury securities4— — 95 49,875 95 49,875 
State and municipal bonds and obligations236559 11,530 16,075 167,873 16,634 179,403 
688$1,457 $280,003 $426,672 $2,463,342 $428,129 $2,743,345 
As of December 31, 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$9 $113,326 $537,424 $2,448,569 $537,433 $2,561,895 
Government-sponsored commercial mortgage-backed securities18727 86,201 201,381 1,074,910 201,408 1,161,111 
U.S. Agency bonds1— — 1,936 17,672 1,936 17,672 
U.S. Treasury securities6— — 2,165 97,619 2,165 97,619 
State and municipal bonds and obligations238819 19,361 13,285 163,940 14,104 183,301 
756$855 $218,888 $756,191 $3,802,710 $757,046 $4,021,598 
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 March 31, 2025
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$227,145 $— $(23,653)$— $203,492 
Government-sponsored commercial mortgage-backed securities188,043 — (16,198)— 171,845 
State and municipal bonds and obligations7,662 — (142)— 7,520 
Corporate note18,000 225 — — 18,225 
$440,850 $225 $(39,993)$— $401,082 
As of December 31, 2024
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowance for Credit LossesFair
Value
(In thousands)
Debt securities:
Government-sponsored residential mortgage-backed securities$231,709 $— $(29,438)$— $202,271 
Government-sponsored commercial mortgage-backed securities189,006 — (19,553)— 169,453 
$420,715 $— $(48,991)$— $371,724 
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 March 31, 2025
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$341 $339 $19,001 $18,564 $12,184 $11,425 $2,909,602 $2,617,310 $2,941,128 $2,647,638 
Government-sponsored commercial mortgage-backed securities— — 611,697 606,580 50,396 44,396 518,631 425,793 1,180,724 1,076,769 
U.S. Treasury securities49,970 49,875 50,049 50,244 — — — — 100,019 100,119 
State and municipal bonds and obligations6,841 6,785 33,027 31,945 50,698 47,788 105,471 92,885 196,037 179,403 
Total available for sale securities57,152 56,999 713,774 707,333 113,278 103,609 3,533,704 3,135,988 4,417,908 4,003,929 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 227,145 203,492 227,145 203,492 
Government-sponsored commercial mortgage-backed securities— — 132,445 122,957 55,598 48,888 — — 188,043 171,845 
State and municipal bond obligations— — — — — — 7,662 7,520 7,662 7,520 
Corporate note— — — — 18,000 18,225 — — 18,000 18,225 
Total held to maturity securities— — 132,445 122,957 73,598 67,113 234,807 211,012 440,850 401,082 
Total$57,152 $56,999 $846,219 $830,290 $186,876 $170,722 $3,768,511 $3,347,000 $4,858,758 $4,405,011 
As of December 31, 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$561 $557 $21,535 $20,940 $13,212 $12,268 $3,064,020 $2,528,130 $3,099,328 $2,561,895 
Government-sponsored commercial mortgage-backed securities— — 436,515 404,181 270,546 235,853 655,458 521,077 1,362,519 1,161,111 
U.S. Agency bonds— — 19,608 17,672 — — — — 19,608 17,672 
U.S. Treasury securities49,947 49,717 49,837 47,902 — — — — 99,784 97,619 
State and municipal bonds and obligations5,368 5,319 33,497 32,284 51,326 48,743 107,214 96,955 197,405 183,301 
Total available for sale securities55,876 55,593 560,992 522,979 335,084 296,864 3,826,692 3,146,162 4,778,644 4,021,598 
HTM securities
Government-sponsored residential mortgage-backed securities— — — — — — 231,709 202,271 231,709 202,271 
Government-sponsored commercial mortgage-backed securities— — 133,168 121,471 55,838 47,982 0— — 189,006 169,453 
Total held to maturity securities— — 133,168 121,471 55,838 47,982 231,709 202,271 420,715 371,724 
Total$55,876 $55,593 $694,160 $644,450 $390,922 $344,846 $4,058,401 $3,348,433 $5,199,359 $4,393,322