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Securities (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2023 and December 31, 2022 are summarized as follows:
 June 30, 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$41,283 $188 $(497)$40,974 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,623,932 301 (230,690)1,393,543 
Private mortgage-backed securities and collateralized mortgage obligations143,008 15 (13,352)129,671 
Collateralized loan obligations310,516 — (7,204)303,312 
Obligations of state and political subdivisions21,956 (1,506)20,452 
Other debt securities27,991 415 (127)28,279 
Totals$2,168,686 $921 $(253,376)$1,916,231 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$707,812 $— $(130,226)$577,586 
Totals$707,812 $— $(130,226)$577,586 
 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 June 30, 2023 and December 31, 2022 are summarized as follows:
 June 30, 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$41,283 $188 $(497)$40,974 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,623,932 301 (230,690)1,393,543 
Private mortgage-backed securities and collateralized mortgage obligations143,008 15 (13,352)129,671 
Collateralized loan obligations310,516 — (7,204)303,312 
Obligations of state and political subdivisions21,956 (1,506)20,452 
Other debt securities27,991 415 (127)28,279 
Totals$2,168,686 $921 $(253,376)$1,916,231 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$707,812 $— $(130,226)$577,586 
Totals$707,812 $— $(130,226)$577,586 
 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)$617,741 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
June 30, 2023
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $4,903 $4,811 
Due after one year through five years— — 11,125 11,002 
Due after five years through ten years— — 14,256 14,129 
Due after ten years— — 32,955 31,484 
 — — 63,239 61,426 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities707,812 577,586 1,623,932 1,393,543 
Private mortgage-backed securities and collateralized mortgage obligations— — 143,008 129,671 
Collateralized loan obligations— — 310,516 303,312 
Other debt securities— — 27,991 28,279 
Totals$707,812 $577,586 $2,168,686 $1,916,231 
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.
 June 30, 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$32,164 $(481)$439 $(16)$32,603 $(497)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities368,235 (24,697)1,002,455 (205,993)1,370,690 (230,690)
Private mortgage-backed securities and collateralized mortgage obligations22,704 (788)106,569 (12,564)129,273 (13,352)
Collateralized loan obligations58,568 (1,742)244,744 (5,462)303,312 (7,204)
Obligations of state and political subdivisions8,575 (112)8,607 (1,394)17,182 (1,506)
Other debt securities5,606 (127)— — 5,606 (127)
Totals$495,852 $(27,947)$1,362,814 $(225,429)$1,858,666 $(253,376)
 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)