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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2022
Investment Securities [Abstract]  
Summary Investment Holdings
(In thousands)June 30, 2022December 31, 2021
Available for sale debt securities$13,700,308 $14,450,027 
Trading debt securities34,195 46,235 
Equity securities:
Readily determinable fair value6,130 7,153 
No readily determinable fair value2,416 2,049 
Other:
Federal Reserve Bank stock34,621 34,379 
Federal Home Loan Bank stock10,163 10,428 
Equity method investments1,434 1,834 
Private equity investments161,771 147,406 
Total investment securities (1)
$13,951,038 $14,699,511 
(1)Accrued interest receivable totaled $41.5 million and $39.5 million at June 30, 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 June 30, 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$207,783 $208,605 
After 1 but within 5 years731,507 718,407 
After 5 but within 10 years186,246 182,116 
Total U.S. government and federal agency obligations1,125,536 1,109,128 
Government-sponsored enterprise obligations:
After 5 but within 10 years5,000 4,922 
After 10 years50,758 42,186 
Total government-sponsored enterprise obligations55,758 47,108 
State and municipal obligations:
Within 1 year190,263 190,534 
After 1 but within 5 years731,959 719,545 
After 5 but within 10 years879,897 787,103 
After 10 years299,193 255,616 
Total state and municipal obligations2,101,312 1,952,798 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,464,292 4,923,683 
  Non-agency mortgage-backed securities1,480,969 1,329,114 
  Asset-backed securities3,959,409 3,794,487 
Total mortgage and asset-backed securities10,904,670 10,047,284 
Other debt securities:
Within 1 year64,757 64,704 
After 1 but within 5 years250,670 238,482 
After 5 but within 10 years271,406 232,905 
After 10 years9,260 7,899 
Total other debt securities596,093 543,990 
Total available for sale debt securities$14,783,369 $13,700,308 
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
June 30, 2022
U.S. government and federal agency obligations$609,636 $20,883 $— $— $609,636 $20,883 
Government-sponsored enterprise obligations 32,362 3,577 14,746 5,073 47,108 8,650 
State and municipal obligations1,239,029 127,348 137,304 24,739 1,376,333 152,087 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities3,727,959 351,355 1,162,478 190,021 4,890,437 541,376 
   Non-agency mortgage-backed securities1,295,069 148,483 26,541 3,469 1,321,610 151,952 
   Asset-backed securities3,416,797 152,152 247,462 12,906 3,664,259 165,058 
Total mortgage and asset-backed securities8,439,825 651,990 1,436,481 206,396 9,876,306 858,386 
Other debt securities390,367 28,962 141,592 23,154 531,959 52,116 
Total $10,711,219 $832,760 $1,730,123 $259,362 $12,441,342 $1,092,122 
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 June 30, 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
June 30, 2022
U.S. government and federal agency obligations$1,125,536 $4,475 $(20,883)$— $1,109,128 
Government-sponsored enterprise obligations55,758 — (8,650)— 47,108 
State and municipal obligations2,101,312 3,573 (152,087)— 1,952,798 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,464,292 767 (541,376)— 4,923,683 
  Non-agency mortgage-backed securities1,480,969 97 (151,952)— 1,329,114 
  Asset-backed securities3,959,409 136 (165,058)— 3,794,487 
Total mortgage and asset-backed securities10,904,670 1,000 (858,386)— 10,047,284 
Other debt securities596,093 13 (52,116)— 543,990 
Total$14,783,369 $9,061 $(1,092,122)$— $13,700,308 
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 Six Months Ended June 30
(In thousands)20222021
Proceeds from sales of securities:
Available for sale debt securities
$51,948 $— 
Other investments
3,805 10,060 
Total proceeds
$55,753 $10,060 
Investment securities gains (losses), net:
Available for sale debt securities:
Losses realized on sales$(9,582)$— 
Equity securities:
 Fair value adjustments, net
(1,023)15 
Other:
 Gains realized on sales
27 1,611 
 Losses realized on sales
(4,313)— 
Fair value adjustments, net 23,083 25,031 
Total investment securities gains, net$8,192 $26,657