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Securities (Tables)
3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2023 and December 31, 2022 are summarized as follows:
 March 31, 2023
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
Available-for-Sale Debt Securities   
U.S. Treasury securities and obligations of U.S. government agencies$43,448 $267 $(331)$43,384 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,657,149 1,002 (203,663)1,454,488 
Private mortgage-backed securities and collateralized mortgage obligations175,629 104 (12,359)163,374 
Collateralized loan obligations312,086 — (6,609)305,477 
Obligations of state and political subdivisions22,016 38 (1,383)20,671 
Other debt securities28,799 184 (410)28,573 
Totals$2,239,127 $1,595 $(224,755)$2,015,967 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$737,911 $— $(119,135)$618,776 
Totals$737,911 $— $(119,135)$618,776 
 December 31, 2022
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
Available-for-Sale Debt Securities    
U.S. Treasury securities and obligations of U.S. government agencies$13,813 $173 $(339)$13,647 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,561,197 539 (223,083)1,338,653 
Private mortgage-backed securities and collateralized mortgage obligations179,148 70 (12,831)166,387 
Collateralized loan obligations313,155 — (10,251)302,904 
Obligations of state and political subdivisions29,350 122 (1,731)27,741 
Other debt securities22,640 197 (427)22,410 
Totals$2,119,303 $1,101 $(248,662)$1,871,742 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$747,408 $64 $(129,731)$617,741 
Totals$747,408 $64 $(129,731)$617,741 
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at March 31, 2023 and December 31, 2022 are summarized as follows:
 March 31, 2023
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
Available-for-Sale Debt Securities   
U.S. Treasury securities and obligations of U.S. government agencies$43,448 $267 $(331)$43,384 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,657,149 1,002 (203,663)1,454,488 
Private mortgage-backed securities and collateralized mortgage obligations175,629 104 (12,359)163,374 
Collateralized loan obligations312,086 — (6,609)305,477 
Obligations of state and political subdivisions22,016 38 (1,383)20,671 
Other debt securities28,799 184 (410)28,573 
Totals$2,239,127 $1,595 $(224,755)$2,015,967 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$737,911 $— $(119,135)$618,776 
Totals$737,911 $— $(119,135)$618,776 
 December 31, 2022
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
Available-for-Sale Debt Securities    
U.S. Treasury securities and obligations of U.S. government agencies$13,813 $173 $(339)$13,647 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,561,197 539 (223,083)1,338,653 
Private mortgage-backed securities and collateralized mortgage obligations179,148 70 (12,831)166,387 
Collateralized loan obligations313,155 — (10,251)302,904 
Obligations of state and political subdivisions29,350 122 (1,731)27,741 
Other debt securities22,640 197 (427)22,410 
Totals$2,119,303 $1,101 $(248,662)$1,871,742 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$747,408 $64 $(129,731)$617,741 
Totals$747,408 $64 $(129,731)$617,741 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
March 31, 2023
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $1,708 $1,684 
Due after one year through five years— — 14,321 14,270 
Due after five years through ten years— — 15,460 15,377 
Due after ten years— — 33,975 32,724 
 — — 65,464 64,055 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities737,911 618,776 1,657,149 1,454,488 
Private mortgage-backed securities and collateralized mortgage obligations— — 175,629 163,374 
Collateralized loan obligations— — 312,086 305,477 
Other debt securities— — 28,799 28,573 
Totals$737,911 $618,776 $2,239,127 $2,015,967 
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded.
 March 31, 2023
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$31,886 $(316)$451 $(15)$32,337 $(331)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities499,606 (23,670)907,243 (179,993)1,406,849 (203,663)
Private mortgage-backed securities and collateralized mortgage obligations76,503 (3,870)58,387 (8,489)134,890 (12,359)
Collateralized loan obligations58,915 (1,395)246,562 (5,214)305,477 (6,609)
Obligations of state and political subdivisions10,417 (128)5,551 (1,255)15,968 (1,383)
Other debt securities18,058 (410)— — 18,058 (410)
Totals$695,385 $(29,789)$1,218,194 $(194,966)$1,913,579 $(224,755)
 December 31, 2022
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$3,788 $(328)$249 $(11)$4,037 $(339)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities646,651 (54,956)667,520 (168,127)1,314,171 (223,083)
Private mortgage-backed securities and collateralized mortgage obligations130,488 (8,255)25,234 (4,576)155,722 (12,831)
Collateralized loan obligations242,370 (8,343)60,534 (1,908)302,904 (10,251)
Obligations of state and political subdivisions23,804 (1,656)425 (75)24,229 (1,731)
Other debt securities11,459 (427)— — 11,459 (427)
Totals$1,058,560 $(73,965)$753,962 $(174,697)$1,812,522 $(248,662)