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Securities (Tables)
9 Months Ended
Sep. 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 September 30, 2023 and December 31, 2022 are summarized as follows:
 September 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$39,388 $$(954)$38,436 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,593,306 58 (266,725)1,326,639 
Private mortgage-backed securities and collateralized mortgage obligations139,089 25 (13,927)125,187 
Collateralized loan obligations307,664 — (3,496)304,168 
Obligations of state and political subdivisions21,768 — (2,116)19,652 
Other debt securities27,293 596 (126)27,763 
Totals$2,128,508 $681 $(287,344)$1,841,845 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$691,404 $— $(154,186)$537,218 
Totals$691,404 $— $(154,186)$537,218 
 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 September 30, 2023 and December 31, 2022 are summarized as follows:
 September 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$39,388 $$(954)$38,436 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,593,306 58 (266,725)1,326,639 
Private mortgage-backed securities and collateralized mortgage obligations139,089 25 (13,927)125,187 
Collateralized loan obligations307,664 — (3,496)304,168 
Obligations of state and political subdivisions21,768 — (2,116)19,652 
Other debt securities27,293 596 (126)27,763 
Totals$2,128,508 $681 $(287,344)$1,841,845 
Held-to-Maturity Debt Securities
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$691,404 $— $(154,186)$537,218 
Totals$691,404 $— $(154,186)$537,218 
 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)$617,741 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
September 30, 2023
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $6,157 $6,083 
Due after one year through five years— — 11,621 11,365 
Due after five years through ten years— — 11,075 10,938 
Due after ten years— — 32,303 29,702 
 — — 61,156 58,088 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities691,404 537,218 1,593,306 1,326,639 
Private mortgage-backed securities and collateralized mortgage obligations— — 139,089 125,187 
Collateralized loan obligations— — 307,664 304,168 
Other debt securities— — 27,293 27,763 
Totals$691,404 $537,218 $2,128,508 $1,841,845 
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.
 September 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$33,881 $(467)$3,569 $(487)$37,450 $(954)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities174,339 (18,084)1,142,859 (248,641)1,317,198 (266,725)
Private mortgage-backed securities and collateralized mortgage obligations4,814 (84)119,348 (13,843)124,162 (13,927)
Collateralized loan obligations59,580 (730)244,588 (2,766)304,168 (3,496)
Obligations of state and political subdivisions8,394 (296)11,258 (1,820)19,652 (2,116)
Other debt securities10,765 (126)— — 10,765 (126)
Totals$291,773 $(19,787)$1,521,622 $(267,557)$1,813,395 $(287,344)
 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)