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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2022
Investment Securities [Abstract]  
Summary Investment Holdings
(In thousands)September 30, 2022December 31, 2021
Available for sale debt securities$12,632,510 $14,450,027 
Trading debt securities39,222 46,235 
Equity securities:
Readily determinable fair value6,106 7,153 
No readily determinable fair value2,848 2,049 
Other:
Federal Reserve Bank stock34,707 34,379 
Federal Home Loan Bank stock10,260 10,428 
Equity method investments1,434 1,834 
Private equity investments176,341 147,406 
Total investment securities (1)
$12,903,428 $14,699,511 
(1)Accrued interest receivable totaled $39.6 million and $39.5 million at September 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 September 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$159,019 $158,319 
After 1 but within 5 years735,831 705,287 
After 5 but within 10 years190,134 172,719 
Total U.S. government and federal agency obligations1,084,984 1,036,325 
Government-sponsored enterprise obligations:
After 5 but within 10 years4,987 4,545 
After 10 years50,750 38,630 
Total government-sponsored enterprise obligations55,737 43,175 
State and municipal obligations:
Within 1 year197,465 196,380 
After 1 but within 5 years666,078 636,464 
After 5 but within 10 years936,136 787,205 
After 10 years221,305 183,204 
Total state and municipal obligations2,020,984 1,803,253 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,230,550 4,445,519 
  Non-agency mortgage-backed securities1,449,021 1,235,584 
  Asset-backed securities3,755,855 3,558,287 
Total mortgage and asset-backed securities10,435,426 9,239,390 
Other debt securities:
Within 1 year50,783 50,639 
After 1 but within 5 years272,029 249,688 
After 5 but within 10 years247,121 202,706 
After 10 years9,260 7,334 
Total other debt securities579,193 510,367 
Total available for sale debt securities$14,176,324 $12,632,510 
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
September 30, 2022
U.S. government and federal agency obligations$695,272 $33,081 $283,593 $15,579 $978,865 $48,660 
Government-sponsored enterprise obligations 29,954 5,964 13,221 6,598 43,175 12,562 
State and municipal obligations1,101,122 72,473 673,390 145,337 1,774,512 217,810 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities1,970,947 241,074 2,450,227 544,264 4,421,174 785,338 
   Non-agency mortgage-backed securities417,434 63,282 811,318 150,299 1,228,752 213,581 
   Asset-backed securities2,145,330 92,243 1,381,680 105,368 3,527,010 197,611 
Total mortgage and asset-backed securities4,533,711 396,599 4,643,225 799,931 9,176,936 1,196,530 
Other debt securities297,155 25,979 210,212 42,847 507,367 68,826 
Total $6,657,214 $534,096 $5,823,641 $1,010,292 $12,480,855 $1,544,388 
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 September 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
September 30, 2022
U.S. government and federal agency obligations$1,084,984 $1 $(48,660)$— $1,036,325 
Government-sponsored enterprise obligations55,737 — (12,562)— 43,175 
State and municipal obligations2,020,984 79 (217,810)— 1,803,253 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,230,550 307 (785,338)— 4,445,519 
  Non-agency mortgage-backed securities1,449,021 144 (213,581)— 1,235,584 
  Asset-backed securities3,755,855 43 (197,611)— 3,558,287 
Total mortgage and asset-backed securities10,435,426 494 (1,196,530)— 9,239,390 
Other debt securities579,193 — (68,826)— 510,367 
Total$14,176,324 $574 $(1,544,388)$— $12,632,510 
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 Nine Months Ended September 30
(In thousands)20222021
Proceeds from sales of securities:
Available for sale debt securities
$85,023 $— 
Other investments
3,907 10,060 
Total proceeds
$88,930 $10,060 
Investment securities gains (losses), net:
Available for sale debt securities:
Losses realized on sales$(20,274)$— 
Equity securities:
 Fair value adjustments, net
(1,048)152 
Other:
 Gains realized on sales
104 1,611 
 Losses realized on sales
(4,313)— 
Fair value adjustments, net 37,133 38,002 
Total investment securities gains, net$11,602 $39,765