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Securities (Tables)
12 Months Ended
Dec. 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 AFS and HTM securities at December 31, 2023 and December 31, 2022 are summarized as follows:
 December 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$37,718 $205 $(478)$37,445 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,152,753 780 (184,152)969,381 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities385,013 2,824 (19,565)368,272 
Private mortgage-backed securities and collateralized mortgage obligations135,878 36 (10,911)125,003 
Collateralized loan obligations300,855 11 (1,411)299,455 
Obligations of state and political subdivisions10,486 — (1,096)9,390 
Other debt securities26,599 576 (101)27,074 
Totals$2,049,302 $4,432 $(217,714)$1,836,020 
Held-to-Maturity Debt Securities     
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$590,676 $— $(111,746)$478,930 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities89,637 — (10,208)79,429 
Totals$680,313 $— $(121,954)$558,359 
 
 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 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,170,062 539 (196,272)974,329 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities391,135 — (26,811)364,324 
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
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$634,300 $64 $(116,711)$517,653 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities113,108 — (13,020)100,088 
Totals$747,408 $64 $(129,731)$617,741 
Summary of Amortized Cost and Fair Value of Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of AFS and HTM securities at December 31, 2023 and December 31, 2022 are summarized as follows:
 December 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$37,718 $205 $(478)$37,445 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,152,753 780 (184,152)969,381 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities385,013 2,824 (19,565)368,272 
Private mortgage-backed securities and collateralized mortgage obligations135,878 36 (10,911)125,003 
Collateralized loan obligations300,855 11 (1,411)299,455 
Obligations of state and political subdivisions10,486 — (1,096)9,390 
Other debt securities26,599 576 (101)27,074 
Totals$2,049,302 $4,432 $(217,714)$1,836,020 
Held-to-Maturity Debt Securities     
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$590,676 $— $(111,746)$478,930 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities89,637 — (10,208)79,429 
Totals$680,313 $— $(121,954)$558,359 
 
 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 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,170,062 539 (196,272)974,329 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities391,135 — (26,811)364,324 
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
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$634,300 $64 $(116,711)$517,653 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities113,108 — (13,020)100,088 
Totals$747,408 $64 $(129,731)$617,741 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $4,537 $4,504 
Due after one year through five years— — 6,066 6,069 
Due after five years through ten years— — 9,465 9,362 
Due after ten years— — 28,136 26,900 
 $— $— $48,204 $46,835 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$590,676 $478,930 $1,152,753 $969,381 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities89,637 79,429 385,013 368,272 
Private mortgage-backed securities and collateralized mortgage obligations— — 135,878 125,003 
Collateralized loan obligations— — 300,855 299,455 
Other debt securities— — 26,599 27,074 
Totals$680,313 $558,359 $2,049,302 $1,836,020 
Schedule of Unrealized Loss and Fair Value on Investments 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.
 December 31, 2023
 Less than 12 months12 months or longer
Total1
(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$24,933 $(143)$3,594 $(335)$28,527 $(478)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities91,867 (9,320)826,324 (174,832)918,191 (184,152)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities24,251 (1,270)262,666 (18,295)286,917 (19,565)
Private mortgage-backed securities and collateralized mortgage obligations3,945 (69)119,475 (10,842)123,420 (10,911)
Collateralized loan obligations60,087 (223)232,545 (1,188)292,632 (1,411)
Obligations of state and political subdivisions326 (2)9,064 (1,094)9,390 (1,096)
Other debt securities10,579 (101)— — 10,579 (101)
Totals$215,988 $(11,128)$1,453,668 $(206,586)$1,669,656 $(217,714)
1Comprised of 504 individual securities
 December 31, 2022
 Less than 12 months12 months or longer
Total1
(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)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities304,732 (33,401)645,115 (162,870)949,847 (196,271)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities341,920 (21,555)22,404 (5,257)364,324 (26,812)
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$1,058,561 $(73,965)$753,961 $(174,697)$1,812,522 $(248,662)
1Comprised of 420 individual securities