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Securities (Tables)
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of AFS and HTM Securities
The amortized cost, gross unrealized gains and losses and fair value of AFS and HTM securities at March 31, 2025 and December 31, 2024 are summarized as follows:
 March 31, 2025
(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$26,631 $214 $(422)$26,423 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities2,119,865 8,158 (165,805)1,962,218 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities249,246 2,500 (8,110)243,636 
Private mortgage-backed securities and collateralized mortgage obligations124,038 210 (7,041)117,207 
Collateralized loan obligations265,450 568 (639)265,379 
Obligations of state and political subdivisions7,140 — (1,512)5,628 
Other debt securities7,389 79 — 7,468 
Totals$2,799,759 $11,729 $(183,529)$2,627,959 
Held-to-Maturity Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$536,529 $— $(106,635)$429,894 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,121 — (8,264)79,857 
Totals$624,650 $— $(114,899)$509,751 
 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 
Schedule of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of AFS and HTM securities at March 31, 2025 and December 31, 2024 are summarized as follows:
 March 31, 2025
(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$26,631 $214 $(422)$26,423 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities2,119,865 8,158 (165,805)1,962,218 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities249,246 2,500 (8,110)243,636 
Private mortgage-backed securities and collateralized mortgage obligations124,038 210 (7,041)117,207 
Collateralized loan obligations265,450 568 (639)265,379 
Obligations of state and political subdivisions7,140 — (1,512)5,628 
Other debt securities7,389 79 — 7,468 
Totals$2,799,759 $11,729 $(183,529)$2,627,959 
Held-to-Maturity Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$536,529 $— $(106,635)$429,894 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,121 — (8,264)79,857 
Totals$624,650 $— $(114,899)$509,751 
 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)$507,594 
Schedule of Investments Classified by Contractual Maturity
The amortized cost and fair value of securities HTM and AFS as of March 31, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $100 $97 
Due after one year through five years— — 6,586 6,595 
Due after five years through ten years— — 9,697 9,796 
Due after ten years— — 17,388 15,563 
 — — 33,771 32,051 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities536,529 429,894 2,119,865 1,962,218 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities88,121 79,857 249,246 243,636 
Private mortgage-backed securities and collateralized mortgage obligations— — 124,038 117,207 
Collateralized loan obligations— — 265,450 265,379 
Other debt securities— — 7,389 7,468 
Totals$624,650 $509,751 $2,799,759 $2,627,959 
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate the fair value of AFS debt securities with unrealized losses for which no allowance for credit losses has been recorded.
 March 31, 2025
 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$11,817 $(97)$5,404 $(325)$17,221 $(422)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities546,593 (35,096)607,377 (130,709)1,153,970 (165,805)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities29,937 (865)68,150 (7,245)98,087 (8,110)
Private mortgage-backed securities and collateralized mortgage obligations304 (6)97,986 (7,035)98,290 (7,041)
Collateralized loan obligations91,511 (450)30,396 (189)121,907 (639)
Obligations of state and political subdivisions330 (5)5,298 (1,507)5,628 (1,512)
Totals$680,492 $(36,519)$814,611 $(147,010)$1,495,103 $(183,529)
1Comprised of 350 individual securities.
 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.