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Securities (Tables)
12 Months Ended
Dec. 31, 2024
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, 2024 and December 31, 2023 are summarized as follows:
 December 31, 2024
(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$28,233 $29 $(522)$27,740 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,777,274 1,237 (190,536)1,587,975 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities206,537 1,195 (10,283)197,449 
Private mortgage-backed securities and collateralized mortgage obligations129,475 149 (8,382)121,242 
Collateralized loan obligations278,342 788 (166)278,964 
Obligations of state and political subdivisions7,139 — (1,449)5,690 
Other Debt Securities7,389 94 — 7,483 
Totals$2,434,389 $3,492 $(211,338)$2,226,543 
Held-to-Maturity Debt Securities     
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$546,444 $— $(117,620)$428,824 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,742 — (9,972)78,770 
Totals$635,186 $— $(127,592)$507,594 
 
 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 
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, 2024 and December 31, 2023 are summarized as follows:
 December 31, 2024
(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$28,233 $29 $(522)$27,740 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,777,274 1,237 (190,536)1,587,975 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities206,537 1,195 (10,283)197,449 
Private mortgage-backed securities and collateralized mortgage obligations129,475 149 (8,382)121,242 
Collateralized loan obligations278,342 788 (166)278,964 
Obligations of state and political subdivisions7,139 — (1,449)5,690 
Other Debt Securities7,389 94 — 7,483 
Totals$2,434,389 $3,492 $(211,338)$2,226,543 
Held-to-Maturity Debt Securities     
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$546,444 $— $(117,620)$428,824 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,742 — (9,972)78,770 
Totals$635,186 $— $(127,592)$507,594 
 
 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)$558,359 
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $$
Due after one year through five years— — 6,288 6,283 
Due after five years through ten years— — 7,306 7,226 
Due after ten years— — 21,777 19,920 
 $— $— $35,372 $33,430 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$546,444 $428,824 $1,777,274 $1,587,975 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,742 78,770 206,537 197,449 
Private mortgage-backed securities and collateralized mortgage obligations— — 129,475 121,242 
Collateralized loan obligations— — 278,342 278,964 
Other debt securities— — 7,389 7,483 
Totals$635,186 $507,594 $2,434,389 $2,226,543 
Schedule of Unrealized Loss and Fair Value on Investments The tables below indicate the fair value of AFS debt securities with unrealized losses for which no allowance for credit losses has been recorded.
 December 31, 2024
 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$4,825 $(13)$18,060 $(509)$22,885 $(522)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities648,967 (7,578)739,363 (182,958)1,388,330 (190,536)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities13,200 (222)107,041 (10,061)120,241 (10,283)
Private mortgage-backed securities and collateralized mortgage obligations7,178 (16)101,242 (8,366)108,420 (8,382)
Collateralized loan obligations43,410 (152)7,596 (14)51,006 (166)
Obligations of state and political subdivisions319 (15)5,371 (1,434)5,690 (1,449)
Totals$717,899 $(7,996)$978,673 $(203,342)$1,696,572 $(211,338)
1Comprised of 377 individual securities
 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