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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Debt Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of AFS debt securities at June 30, 2024 and December 31, 2023 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
 (in thousands)
June 30, 2024
U.S. Treasury securities$316,642 $— $(30,368)$286,274 
U.S. government agency securities25,177 23 (2,434)22,766 
Obligations of states and political subdivisions:
Obligations of states and state agencies50,154 — (676)49,478 
Municipal bonds171,552 — (32,342)139,210 
Total obligations of states and political subdivisions221,706 — (33,018)188,688 
Residential mortgage-backed securities1,625,542 1,565 (91,417)1,535,690 
Corporate and other debt securities202,487 59 (23,872)178,674 
Total $2,391,554 $1,647 $(181,109)$2,212,092 
December 31, 2023
U.S. Treasury securities$313,772 $— $(25,615)$288,157 
U.S. government agency securities25,967 19 (2,284)23,702 
Obligations of states and political subdivisions:
Obligations of states and state agencies48,283 — (588)47,695 
Municipal bonds170,260 — (26,265)143,995 
Total obligations of states and political subdivisions218,543 — (26,853)191,690 
Residential mortgage-backed securities703,875 728 (78,031)626,572 
Corporate and other debt securities192,282 — (25,827)166,455 
Total$1,454,439 $747 $(158,610)$1,296,576 
Age of Unrealized Losses and Fair Value of Related Available for Sale Debt Securities
The age of unrealized losses and fair value of the related AFS debt securities at June 30, 2024 and December 31, 2023 were as follows: 
 Less than 12 MonthsMore than 12 MonthsTotal
 Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
 (in thousands)
June 30, 2024
U.S. Treasury securities$— $— $286,274 $(30,368)$286,274 $(30,368)
U.S. government agency securities— — 21,457 (2,434)21,457 (2,434)
Obligations of states and political subdivisions:
Obligations of states and state agencies
— — 6,608 (676)6,608 (676)
Municipal bonds— — 139,210 (32,342)139,210 (32,342)
Total obligations of states and political subdivisions
— — 145,818 (33,018)145,818 (33,018)
Residential mortgage-backed securities543,665 (2,396)529,338 (89,021)1,073,003 (91,417)
Corporate and other debt securities4,803 (197)163,811 (23,675)168,614 (23,872)
Total$548,468 $(2,593)$1,146,698 $(178,516)$1,695,166 $(181,109)
December 31, 2023
U.S. Treasury securities$— $— $288,156 $(25,615)$288,156 $(25,615)
U.S. government agency securities— — 22,364 (2,284)22,364 (2,284)
Obligations of states and political subdivisions:
Obligations of states and state agencies
— — 8,276 (588)8,276 (588)
Municipal bonds1,019 (4)142,976 (26,261)143,995 (26,265)
Total obligations of states and political subdivisions
1,019 (4)151,252 (26,849)152,271 (26,853)
Residential mortgage-backed securities9,010 (3)569,629 (78,028)578,639 (78,031)
Corporate and other debt securities4,977 (23)161,478 (25,804)166,455 (25,827)
Total$15,006 $(30)$1,192,879 $(158,580)$1,207,885 $(158,610)
Contractual Maturities of Debt Securities Available for Sale
The contractual maturities of AFS debt securities at June 30, 2024 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 June 30, 2024
 Amortized
Cost		Fair
Value
 (in thousands)
Due in one year$351 $349 
Due after one year through five years292,140 278,674 
Due after five years through ten years183,029 159,565 
Due after ten years290,492 237,814 
Residential mortgage-backed securities1,625,542 1,535,690 
Total $2,391,554 $2,212,092 
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Debt Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of debt securities held to maturity at June 30, 2024 and December 31, 2023 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueAllowance for Credit LossesNet Carrying Value
 (in thousands)
June 30, 2024
U.S. Treasury securities$25,861 $— $(282)$25,579 $— $25,861 
U.S. government agency securities304,308 — (46,851)257,457 — 304,308 
Obligations of states and political subdivisions:
Obligations of states and state agencies84,910 — (5,303)79,607 382 84,528 
Municipal bonds308,253 3 (21,252)287,004 52 308,201 
Total obligations of states and political subdivisions393,163 3 (26,555)366,611 434 392,729 
Residential mortgage-backed securities2,804,769 2,008 (427,522)2,379,255 — 2,804,769 
Trust preferred securities37,071 — (7,223)29,848 445 36,626 
Corporate and other debt securities86,282 — (5,084)81,198 211 86,071 
Total $3,651,454 $2,011 $(513,517)$3,139,948 $1,090 $3,650,364 
December 31, 2023
U.S. Treasury securities$26,232 $— $(254)$25,978 $— $26,232 
U.S. government agency securities305,996 — (44,441)261,555 — 305,996 
Obligations of states and political subdivisions:
Obligations of states and state agencies
88,556 552 (4,155)84,953 395 88,161 
Municipal bonds316,914 40 (14,380)302,574 49 316,865 
Total obligations of states and political subdivisions405,470 592 (18,535)387,527 444 405,026 
Residential mortgage-backed securities2,885,303 6,059 (369,436)2,521,926 — 2,885,303 
Trust preferred securities37,062 — (6,412)30,650 506 36,556 
Corporate and other debt securities80,350 — (5,674)74,676 255 80,095 
Total $3,740,413 $6,651 $(444,752)$3,302,312 $1,205 $3,739,208 
Age of Unrealized Losses and Fair Value of Related Debt Securities Held to Maturity
The age of unrealized losses and fair value of related debt securities held to maturity at June 30, 2024 and December 31, 2023 were as follows: 
 Less than 12 MonthsMore than 12 MonthsTotal
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
 (in thousands)
June 30, 2024
U.S. Treasury securities$— $— $25,578 $(282)$25,578 $(282)
U.S. government agency securities41,012 (95)215,334 (46,756)256,346 (46,851)
Obligations of states and political subdivisions:
Obligations of states and state agencies23,423 (560)55,433 (4,743)78,856 (5,303)
Municipal bonds47,542 (990)207,639 (20,262)255,181 (21,252)
Total obligations of states and political subdivisions
70,965 (1,550)263,072 (25,005)334,037 (26,555)
Residential mortgage-backed securities
155,245 (950)2,042,485 (426,572)2,197,730 (427,522)
Trust preferred securities951 (49)28,897 (7,174)29,848 (7,223)
Corporate and other debt securities18,858 (142)62,340 (4,942)81,198 (5,084)
Total$287,031 $(2,786)$2,637,706 $(510,731)$2,924,737 $(513,517)
December 31, 2023
U.S. Treasury securities$— $— $25,978 $(254)$25,978 $(254)
U.S. government agency securities43,664 (151)216,759 (44,290)260,423 (44,441)
Obligations of states and political subdivisions:
Obligations of states and state agencies10,700 (102)48,149 (4,053)58,849 (4,155)
Municipal bonds11,958 (121)207,520 (14,259)219,478 (14,380)
Total obligations of states and political subdivisions
22,658 (223)255,669 (18,312)278,327 (18,535)
Residential mortgage-backed securities
57,085 (505)2,164,704 (368,931)2,221,789 (369,436)
Trust preferred securities938 (63)29,712 (6,349)30,650 (6,412)
Corporate and other debt securities
12,575 (426)59,102 (5,248)71,677 (5,674)
Total$136,920 $(1,368)$2,751,924 $(443,384)$2,888,844 $(444,752)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in HTM debt securities at June 30, 2024 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 June 30, 2024
 Amortized
Cost		Fair
Value
 (in thousands)
Due in one year$26,489 $26,345 
Due after one year through five years109,365 106,796 
Due after five years through ten years165,751 154,096 
Due after ten years545,080 473,456 
Residential mortgage-backed securities2,804,769 2,379,255 
Total$3,651,454 $3,139,948 
Amortized Cost of Debt Securities Held to Maturity by External Credit Rating The following table summarizes the amortized cost of HTM debt securities by external credit rating at June 30, 2024 and December 31, 2023.
AAA/AA/A RatedBBB ratedNon-investment grade ratedNon-ratedTotal
 (in thousands)
June 30, 2024
U.S. Treasury securities$25,861 $— $— $— $25,861 
U.S. government agency securities304,308 — — — 304,308 
Obligations of states and political subdivisions:
Obligations of states and state agencies63,002 — 5,248 16,660 84,910 
Municipal bonds280,002 — — 28,251 308,253 
Total obligations of states and political subdivisions
343,004 — 5,248 44,911 393,163 
Residential mortgage-backed securities2,804,769 — — — 2,804,769 
Trust preferred securities— — — 37,071 37,071 
Corporate and other debt securities— 6,000 — 80,282 86,282 
Total $3,477,942 $6,000 $5,248 $162,264 $3,651,454 
December 31, 2023
U.S. Treasury securities$26,232 $— $— $— $26,232 
U.S. government agency securities305,996 — — — 305,996 
Obligations of states and political subdivisions:
Obligations of states and state agencies66,502 — 5,330 16,724 88,556 
Municipal bonds283,441 — — 33,473 316,914 
Total obligations of states and political subdivisions
349,943 — 5,330 50,197 405,470 
Residential mortgage-backed securities2,885,303 — — — 2,885,303 
Trust preferred securities— — 37,062 37,062 
Corporate and other debt securities— 6,000 — 74,350 80,350 
Total$3,567,474 $6,000 $5,330 $161,609 $3,740,413 
Debt Securities, Held-to-Maturity, Allowance for Credit Loss
The following table details the activity in the allowance for credit losses for HTM securities for the three and six months ended June 30, 2024 and 2023: 
Three months ended June 30,Six months ended June 30,
2024202320242023
(in thousands)
Beginning balance$1,131 $1,633 $1,205 $1,646 
Credit for credit losses(41)(282)(115)(295)
Ending balance$1,090 $1,351 $1,090 $1,351