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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Investment Securities [Abstract]  
Summary Investment Holdings
(In thousands)March 31, 2023December 31, 2022
Available for sale debt securities$11,228,616 $12,238,316 
Trading debt securities41,584 43,523 
Equity securities:
Readily determinable fair value6,083 6,210 
No readily determinable fair value6,445 6,094 
Other:
Federal Reserve Bank stock34,887 34,795 
Federal Home Loan Bank stock70,112 10,678 
Equity method investments— 1,434 
Private equity investments163,418 178,127 
Total investment securities (1)
$11,551,145 $12,519,177 
(1)Accrued interest receivable totaled $32.7 million and $38.8 million at March 31, 2023 and December 31, 2022, 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, 2023 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$482,979 $474,435 
After 1 but within 5 years391,902 378,408 
After 5 but within 10 years173,874 167,380 
Total U.S. government and federal agency obligations1,048,755 1,020,223 
Government-sponsored enterprise obligations:
After 5 but within 10 years4,955 4,631 
After 10 years50,734 39,783 
Total government-sponsored enterprise obligations55,689 44,414 
State and municipal obligations:
Within 1 year98,381 97,510 
After 1 but within 5 years465,196 442,933 
After 5 but within 10 years887,757 771,946 
After 10 years163,836 141,425 
Total state and municipal obligations1,615,170 1,453,814 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities4,975,242 4,271,563 
  Non-agency mortgage-backed securities1,403,543 1,207,969 
  Asset-backed securities2,918,160 2,763,578 
Total mortgage and asset-backed securities9,296,945 8,243,110 
Other debt securities:
Within 1 year14,040 13,572 
After 1 but within 5 years246,688 230,527 
After 5 but within 10 years245,003 209,285 
After 10 years16,260 13,671 
Total other debt securities521,991 467,055 
Total available for sale debt securities$12,538,550 $11,228,616 
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, 2023
U.S. government and federal agency obligations$532,588 $9,565 $386,394 $20,444 $918,982 $30,009 
Government-sponsored enterprise obligations 4,631 324 39,783 10,951 44,414 11,275 
State and municipal obligations188,055 2,025 1,200,901 159,549 1,388,956 161,574 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities159,424 4,610 4,091,658 699,252 4,251,082 703,862 
   Non-agency mortgage-backed securities648 12 1,199,354 195,665 1,200,002 195,677 
   Asset-backed securities131,679 2,523 2,631,899 152,059 2,763,578 154,582 
Total mortgage and asset-backed securities291,751 7,145 7,922,911 1,046,976 8,214,662 1,054,121 
Other debt securities7,843 201 459,212 54,735 467,055 54,936 
Total $1,024,868 $19,260 $10,009,201 $1,292,655 $11,034,069 $1,311,915 
December 31, 2022
U.S. government and federal agency obligations$605,840 $17,490 $380,573 $25,940 $986,413 $43,430 
Government-sponsored enterprise obligations25,068 4,650 18,040 7,971 43,108 12,621 
State and municipal obligations814,799 26,708 875,329 171,385 1,690,128 198,093 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities1,323,938 125,330 2,966,851 654,327 4,290,789 779,657 
   Non-agency mortgage-backed securities135,984 16,736 1,069,222 195,218 1,205,206 211,954 
   Asset-backed securities1,331,055 50,056 2,006,188 140,424 3,337,243 190,480 
Total mortgage and asset-backed securities2,790,977 192,122 6,042,261 989,969 8,833,238 1,182,091 
Other debt securities166,040 9,690 308,818 54,707 474,858 64,397 
Total $4,402,724 $250,660 $7,625,021 $1,249,972 $12,027,745 $1,500,632 
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, 2023 and December 31, 2022, 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, 2023
U.S. government and federal agency obligations$1,048,755 $1,477 $(30,009)$— $1,020,223 
Government-sponsored enterprise obligations55,689 — (11,275)— 44,414 
State and municipal obligations1,615,170 218 (161,574)— 1,453,814 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities4,975,242 183 (703,862)— 4,271,563 
  Non-agency mortgage-backed securities1,403,543 103 (195,677)— 1,207,969 
  Asset-backed securities2,918,160 — (154,582)— 2,763,578 
Total mortgage and asset-backed securities9,296,945 286 (1,054,121)— 8,243,110 
Other debt securities521,991 — (54,936)— 467,055 
Total$12,538,550 $1,981 $(1,311,915)$— $11,228,616 
December 31, 2022
U.S. government and federal agency obligations$1,078,807 $29 $(43,430)$— $1,035,406 
Government-sponsored enterprise obligations55,729 — (12,621)— 43,108 
State and municipal obligations1,965,028 174 (198,093)— 1,767,109 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities5,087,893 191 (779,657)— 4,308,427 
  Non-agency mortgage-backed securities1,423,469 92 (211,954)— 1,211,607 
  Asset-backed securities3,588,025 256 (190,480)— 3,397,801 
Total mortgage and asset-backed securities10,099,387 539 (1,182,091)— 8,917,835 
Other debt securities539,255 — (64,397)— 474,858 
Total$13,738,206 $742 $(1,500,632)$— $12,238,316 
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)20232022
Proceeds from sales of securities:
Available for sale debt securities
$812,176 $— 
Other investments
28,259 1,745 
Total proceeds
$840,435 $1,745 
Investment securities gains (losses), net:
Available for sale debt securities:
Losses realized on sales$(3,088)$— 
Equity securities:
 Fair value adjustments, net
(127)(287)
Other:
 Gains realized on sales
658 — 
Fair value adjustments, net 2,251 7,450 
Total investment securities gains (losses), net$(306)$7,163