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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investment Securities [Abstract]  
Summary Investment Holdings
(In thousands)March 31, 2022December 31, 2021
Available for sale debt securities$14,780,494 $14,450,027 
Trading debt securities31,380 46,235 
Equity securities:
Readily determinable fair value6,866 7,153 
No readily determinable fair value2,418 2,049 
Other:
Federal Reserve Bank stock34,532 34,379 
Federal Home Loan Bank stock10,199 10,428 
Equity method investments1,434 1,834 
Private equity investments153,411 147,406 
Total investment securities (1)
$15,020,734 $14,699,511 
(1)Accrued interest receivable totaled $41.4 million and $39.5 million at March 31, 2022 and December 31, 2021, respectively, and was included within other assets on the consolidated balance sheets.
Summary Of Available For Sale Investment Securities By Maturity Groupings A summary of the available for sale debt securities by maturity groupings as of March 31, 2022 is shown below. The investment portfolio includes agency mortgage-backed securities, which are guaranteed by agencies such as FHLMC, FNMA, and Government National Mortgage Association (GNMA), in addition to non-agency mortgage-backed securities, which have no guarantee but are collateralized by commercial and residential mortgages. Also included are certain other asset-backed securities, which are primarily collateralized by credit
cards, automobiles, student loans, and commercial loans. These securities differ from traditional debt securities primarily in that they may have uncertain maturity dates and are priced based on estimated prepayment rates on the underlying collateral.

(In thousands)Amortized
Cost		Fair
Value
U.S. government and federal agency obligations:
Within 1 year$186,706 $189,347 
After 1 but within 5 years746,460 746,770 
After 5 but within 10 years181,875 193,844 
Total U.S. government and federal agency obligations1,115,041 1,129,961 
Government-sponsored enterprise obligations:
After 5 but within 10 years5,000 5,000 
After 10 years50,765 46,390 
Total government-sponsored enterprise obligations55,765 51,390 
State and municipal obligations:
Within 1 year181,848 182,560 
After 1 but within 5 years735,420 730,637 
After 5 but within 10 years917,122 860,827 
After 10 years326,616 298,241 
Total state and municipal obligations2,161,006 2,072,265 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,774,953 5,441,374 
  Non-agency mortgage-backed securities1,525,223 1,435,363 
  Asset-backed securities4,121,388 4,011,361 
Total mortgage and asset-backed securities11,421,564 10,888,098 
Other debt securities:
Within 1 year121,215 121,629 
After 1 but within 5 years229,677 223,109 
After 5 but within 10 years312,426 285,620 
After 10 years9,260 8,422 
Total other debt securities672,578 638,780 
Total available for sale debt securities$15,425,954 $14,780,494 
Securities With Unrealized Losses And Length Of Impairment Period
Less than 12 months12 months or longerTotal
 
(In thousands)
   Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
March 31, 2022
U.S. government and federal agency obligations$390,451 $13,082 $— $— $390,451 $13,082 
Government-sponsored enterprise obligations 29,665 1,281 16,725 3,094 46,390 4,375 
State and municipal obligations1,204,526 80,379 136,076 15,435 1,340,602 95,814 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities4,009,914 242,976 987,082 96,265 4,996,996 339,241 
   Non-agency mortgage-backed securities1,360,220 87,585 28,932 2,525 1,389,152 90,110 
   Asset-backed securities3,439,877 106,785 149,894 6,339 3,589,771 113,124 
Total mortgage and asset-backed securities8,810,011 437,346 1,165,908 105,129 9,975,919 542,475 
Other debt securities326,917 17,622 148,487 16,683 475,404 34,305 
Total $10,761,570 $549,710 $1,467,196 $140,341 $12,228,766 $690,051 
December 31, 2021
U.S. government and federal agency obligations$296,492 $2,241 $— $— $296,492 $2,241 
Government-sponsored enterprise obligations— — 18,899 919 18,899 919 
State and municipal obligations876,691 15,874 32,684 1,049 909,375 16,923 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities3,333,691 59,044 265,835 8,720 3,599,526 67,764 
   Non-agency mortgage-backed securities1,285,611 17,222 1,948 19 1,287,559 17,241 
   Asset-backed securities2,518,935 19,201 87,893 525 2,606,828 19,726 
Total mortgage and asset-backed securities7,138,237 95,467 355,676 9,264 7,493,913 104,731 
Other debt securities270,409 5,098 58,574 3,017 328,983 8,115 
Total $8,581,829 $118,680 $465,833 $14,249 $9,047,662 $132,929 
Available For Sale Securities Unrealized Gains And Losses By Security Type
For debt securities classified as available for sale, the following table shows the amortized cost, fair value, and allowance for credit losses of securities available for sale at March 31, 2022 and December 31, 2021, and the corresponding amounts of gross unrealized gains and losses (pre-tax) in AOCI, by security type.

 
 
(In thousands)
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit Losses
Fair Value
March 31, 2022
U.S. government and federal agency obligations$1,115,041 $28,002 $(13,082)$— $1,129,961 
Government-sponsored enterprise obligations55,765 — (4,375)— 51,390 
State and municipal obligations2,161,006 7,073 (95,814)— 2,072,265 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,774,953 5,662 (339,241)— 5,441,374 
  Non-agency mortgage-backed securities1,525,223 250 (90,110)— 1,435,363 
  Asset-backed securities4,121,388 3,097 (113,124)— 4,011,361 
Total mortgage and asset-backed securities11,421,564 9,009 (542,475)— 10,888,098 
Other debt securities672,578 507 (34,305)— 638,780 
Total$15,425,954 $44,591 $(690,051)$— $14,780,494 
December 31, 2021
U.S. government and federal agency obligations$1,035,477 $47,484 $(2,241)$— $1,080,720 
Government-sponsored enterprise obligations50,773 1,901 (919)— 51,755 
State and municipal obligations2,072,210 41,540 (16,923)— 2,096,827 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,698,088 52,676 (67,764)— 5,683,000 
  Non-agency mortgage-backed securities1,383,037 681 (17,241)— 1,366,477 
  Asset-backed securities3,546,024 12,921 (19,726)— 3,539,219 
Total mortgage and asset-backed securities10,627,149 66,278 (104,731)— 10,588,696 
Other debt securities633,524 6,620 (8,115)— 632,029 
Total$14,419,133 $163,823 $(132,929)$— $14,450,027 
Proceeds From Sales Of Securities And Components Of Investment Securities Gains And Losses
The following table presents proceeds from sales of securities and the components of investment securities gains and losses which have been recognized in earnings.

For the Three Months Ended March 31
(In thousands)20222021
Proceeds from sales of securities:
Other investments
$1,745 $9,292 
Total proceeds
$1,745 $9,292 
Investment securities gains (losses), net:
Equity securities:
 Fair value adjustments, net
$(287)$(35)
Other:
 Gains realized on sales
— 1,523 
Fair value adjustments, net 7,450 8,365 
Total investment securities gains, net$7,163 $9,853