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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investment Securities [Abstract]  
Summary Investment Holdings
Investment securities consisted of the following at September 30, 2023 and December 31, 2022.

(In thousands)September 30, 2023December 31, 2022
Available for sale debt securities$9,860,828 $12,238,316 
Trading debt securities35,564 43,523 
Equity securities:
Readily determinable fair value5,453 6,210 
No readily determinable fair value6,759 6,094 
Other:
Federal Reserve Bank stock35,070 34,795 
Federal Home Loan Bank stock30,400 10,678 
Equity method investments— 1,434 
Private equity investments165,322 178,127 
Total investment securities (1)
$10,139,396 $12,519,177 
(1)Accrued interest receivable totaled $29.4 million and $38.8 million at September 30, 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 September 30, 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$599,278 $588,709 
After 1 but within 5 years211,650 199,843 
After 5 but within 10 years177,247 159,424 
Total U.S. government and federal agency obligations988,175 947,976 
Government-sponsored enterprise obligations:
After 5 but within 10 years4,948 4,293 
After 10 years50,718 36,300 
Total government-sponsored enterprise obligations55,666 40,593 
State and municipal obligations:
Within 1 year76,664 75,389 
After 1 but within 5 years373,467 338,785 
After 5 but within 10 years792,381 648,198 
After 10 years139,062 116,042 
Total state and municipal obligations1,381,574 1,178,414 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities4,722,758 3,792,567 
  Non-agency mortgage-backed securities1,353,003 1,137,448 
  Asset-backed securities2,441,736 2,313,545 
Total mortgage and asset-backed securities8,517,497 7,243,560 
Other debt securities:
Within 1 year50,120 48,876 
After 1 but within 5 years206,375 190,217 
After 5 but within 10 years244,638 200,148 
After 10 years13,260 11,044 
Total other debt securities514,393 450,285 
Total available for sale debt securities$11,457,305 $9,860,828 
Securities With Unrealized Losses And Length Of Impairment Period
The table below summarizes debt securities available for sale in an unrealized loss position, aggregated by length of loss period, for which an allowance for credit losses has not been recorded at September 30, 2023 and December 31, 2022. Unrealized losses on these available for sale securities have not been recognized into income because after review, the securities were deemed not to be impaired. The unrealized losses on these securities are primarily attributable to changes in interest rates and current market conditions. At September 30, 2023, the Company does not intend to sell the securities, nor is it anticipated that it would be required to sell any of these securities at a loss.

Less than 12 months12 months or longerTotal
 
(In thousands)
   Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
September 30, 2023
U.S. government and federal agency obligations$48,996 $2,838 $898,980 $37,361 $947,976 $40,199 
Government-sponsored enterprise obligations — — 40,593 15,073 40,593 15,073 
State and municipal obligations43,228 2,050 1,130,491 201,110 1,173,719 203,160 
Mortgage and asset-backed securities:
   Agency mortgage-backed securities9,762 218 3,766,485 930,086 3,776,247 930,304 
   Non-agency mortgage-backed securities809 5 1,131,284 215,658 1,132,093 215,663 
   Asset-backed securities20,020 149 2,287,893 128,061 2,307,913 128,210 
Total mortgage and asset-backed securities30,591 372 7,185,662 1,273,805 7,216,253 1,274,177 
Other debt securities864 136 449,421 63,972 450,285 64,108 
Total $123,679 $5,396 $9,705,147 $1,591,321 $9,828,826 $1,596,717 
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 September 30, 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
September 30, 2023
U.S. government and federal agency obligations$988,175 $— $(40,199)$— $947,976 
Government-sponsored enterprise obligations55,666 — (15,073)— 40,593 
State and municipal obligations1,381,574 — (203,160)— 1,178,414 
Mortgage and asset-backed securities:
  Agency mortgage-backed securities4,722,758 113 (930,304)— 3,792,567 
  Non-agency mortgage-backed securities1,353,003 108 (215,663)— 1,137,448 
  Asset-backed securities2,441,736 19 (128,210)— 2,313,545 
Total mortgage and asset-backed securities8,517,497 240 (1,274,177)— 7,243,560 
Other debt securities514,393 — (64,108)— 450,285 
Total$11,457,305 $240 $(1,596,717)$— $9,860,828 
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 Nine Months Ended September 30
(In thousands)20232022
Proceeds from sales of securities:
Available for sale debt securities
$1,101,782 $85,023 
Other investments
40,167 3,907 
Total proceeds
$1,141,949 $88,930 
Investment securities gains (losses), net:
Available for sale debt securities:
Gains realized on sales$143 $— 
Losses realized on sales(8,587)(20,274)
Equity securities:
 Fair value adjustments, net
(757)(1,048)
Other:
 Gains realized on sales
884 104 
 Losses realized on sales
(1,245)(4,313)
Fair value adjustments, net 16,946 37,133 
Total investment securities gains (losses), net$7,384 $11,602