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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2024
Fair Value Measurements [Abstract]  
Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The table below presents the September 30, 2024 and December 31, 2023 carrying values of assets and liabilities measured at fair value on a recurring basis. There were no transfers among levels during the first nine months of 2024 or the year ended December 31, 2023.

Fair Value Measurements Using
(In thousands)Total Fair ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
September 30, 2024
Assets:
  Residential mortgage loans held for sale$1,605 $ $1,605 $ 
  Available for sale debt securities:
     U.S. government and federal agency obligations2,406,840 2,406,840   
     Government-sponsored enterprise obligations45,499  45,499  
     State and municipal obligations782,382  781,431 951 
     Agency mortgage-backed securities3,673,971  3,673,971  
     Non-agency mortgage-backed securities609,344  609,344  
     Asset-backed securities1,444,597  1,444,597  
     Other debt securities205,048  205,048  
  Trading debt securities42,645  42,645  
  Equity securities48,262 48,262   
  Private equity investments170,973   170,973 
  Derivatives *99,862  99,565 297 
  Assets held in trust for deferred compensation plan21,989 21,989   
  Total assets9,553,017 2,477,091 6,903,705 172,221 
Liabilities:
  Derivatives *
26,896  26,755 141 
Liabilities held in trust for deferred compensation plan
21,989 21,989   
  Total liabilities$48,885 $21,989 $26,755 $141 
December 31, 2023
Assets:
  Residential mortgage loans held for sale$1,585 $— $1,585 $— 
  Available for sale debt securities:
     U.S. government and federal agency obligations816,514 816,514 — — 
     Government-sponsored enterprise obligations43,962 — 43,962 — 
     State and municipal obligations1,197,419 — 1,196,472 947 
     Agency mortgage-backed securities3,901,346 — 3,901,346 — 
     Non-agency mortgage-backed securities1,157,898 — 1,157,898 — 
     Asset-backed securities2,107,485 — 2,107,485 — 
     Other debt securities460,136 — 460,136 — 
  Trading debt securities28,830 — 28,830 — 
  Equity securities5,723 5,723 — — 
  Private equity investments176,667 — — 176,667 
  Derivatives *116,876 — 116,710 166 
  Assets held in trust for deferred compensation plan20,538 20,538 — — 
  Total assets10,034,979 842,775 9,014,424 177,780 
Liabilities:
  Derivatives *
37,899 — 37,704 195 
Liabilities held in trust for deferred compensation plan
20,538 20,538 — — 
  Total liabilities$58,437 $20,538 $37,704 $195 
* The fair value of each class of derivative is shown in Note 11.
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis
The changes in the Company's Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

Fair Value Measurements Using
Significant Unobservable Inputs
(Level 3)


(In thousands)
State and Municipal Obligations
Private Equity
Investments
Total
For the three months ended September 30, 2024
Balance June 30, 2024$953 $178,321 $179,274 
Total gains or losses (realized/unrealized):
Included in earnings 7,428 7,428 
Included in other comprehensive income *(2) (2)
Purchases of private equity investments 375 375 
Sale/pay down of private equity investments (15,139)(15,139)
Capitalized interest/dividends (12)(12)
Balance at September 30, 2024$951 $170,973 $171,924 
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2024
$ $7,428 $7,428 
*Total gains or losses for the three months included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2024
$(2)$ $(2)
For the nine months ended September 30, 2024
Balance January 1, 2024
$947 $176,667 $177,614 
Total gains or losses (realized/unrealized):
Included in earnings 20,205 20,205 
Included in other comprehensive income *3  3 
Discount accretion1  1 
Purchases of private equity investments 11,322 11,322 
Sale/pay down of private equity investments (37,103)(37,103)
Capitalized interest/dividends (118)(118)
Balance at September 30, 2024$951 $170,973 $171,924 
Total gains or losses for the nine months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2024
$ $10,480 $10,480 
*Total gains or losses for the nine months included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2024
$3 $ $3 
Fair Value Measurements Using
Significant Unobservable Inputs
(Level 3)


(In thousands)
State and Municipal Obligations
Private Equity
Investments
Total
For the three months ended September 30, 2023
Balance at June 30, 2023
$920 $172,732 $173,652 
Total gains or losses (realized/unrealized):
Included in earnings— 5,605 5,605 
Included in other comprehensive income *18 — 18 
Sale/pay down of private equity investments— (13,342)(13,342)
Capitalized interest/dividends— 327 327 
Balance at September 30, 2023$938 $165,322 $166,260 
Total gains or losses for the three months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2023
$— $5,605 $5,605 
*Total gains or losses for the three months included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2023
$17 $— $17 
For the nine months ended September 30, 2023
Balance January 1, 2023
$1,841 $178,127 $179,968 
Total gains or losses (realized/unrealized):
Included in earnings— 16,946 16,946 
Included in other comprehensive income *49 — 49 
Investment securities called(1,000)— (1,000)
Discount accretion48 — 48 
Purchases of private equity investments— 10,756 10,756 
Sale/pay down of private equity investments— (40,834)(40,834)
Capitalized interest/dividends— 327 327 
Balance at September 30, 2023$938 $165,322 $166,260 
Total gains or losses for the nine months included in earnings attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2023
$— $17,446 $17,446 
*Total gains or losses for the nine months included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets still held at September 30, 2023
$27 $— $27 
* Included in "net unrealized gains (losses) on available for sale debt securities" in the consolidated statements of comprehensive income.
Summary Of Gains And Losses On Level 3 Assets And Liabilities
Gains and losses included in earnings for the Company's Level 3 assets and liabilities in the previous table are reported in the following line items in the consolidated statements of income:

(In thousands)Investment Securities Gains (Losses), Net
For the three months ended September 30, 2024
Total gains or losses included in earnings$7,428 
Change in unrealized gains or losses relating to assets still held at September 30, 2024
$7,428 
For the nine months ended September 30, 2024
Total gains or losses included in earnings $20,205 
Change in unrealized gains or losses relating to assets still held at September 30, 2024
$10,480 
For the three months ended September 30, 2023
Total gains or losses included in earnings $5,605 
Change in unrealized gains or losses relating to assets still held at September 30, 2023
$5,605 
For the nine months ended September 30, 2023
Total gains or losses included in earnings$16,946 
Change in unrealized gains or losses relating to assets still held at September 30, 2023
$17,446 
Summary Of Quantitative Information About Level 3 Fair Value Measurements
The Company's Level 3 measurements at September 30, 2024, which employ unobservable inputs that are readily quantifiable, pertain to investments in portfolio concerns held by the Company's private equity subsidiaries. Information about these inputs is presented in the table below.

Quantitative Information about Level 3 Fair Value MeasurementsWeighted
Valuation TechniqueUnobservable InputRangeAverage*
Private equity investmentsMarket comparable companiesEBITDA multiple3.8-6.05.1
* Unobservable inputs were weighted by the relative fair value of the instruments.
Schedule Of Fair Value Disclosures Measured On Nonrecurring Basis [Table Text Block]
For assets measured at fair value on a nonrecurring basis during the first nine months of 2024 and 2023, and still held as of September 30, 2024 and 2023, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation inputs used to determine each adjustment, and the carrying value of the related individual assets or portfolios at September 30, 2024 and 2023.

Fair Value Measurements Using
(In thousands)

Fair Value
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Total Gains (Losses) Recognized During the Nine Months Ended September 30
September 30, 2024
Collateral dependent loans$14,872 $ $ $14,872 $(2,646)
September 30, 2023
Collateral dependent loans$4,029 $— $— $4,029 $(2,059)
Long- lived assets1,894 — — 1,894 (164)