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Securities (Tables)
6 Months Ended
Jun. 30, 2026
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 debt securities AFS and HTM at June 30, 2026 and December 31, 2025 are summarized as follows:
June 30, 2026
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
AFS Debt Securities
U.S. Treasury securities and obligations of U.S. government agencies$61,647 $165 $(941)$60,871 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,779,175 19,016 (121,168)3,677,023 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities361,779 2,635 (4,986)359,428 
Private mortgage-backed securities and collateralized mortgage obligations85,347 214 (5,074)80,487 
CLOs419,898 515 (858)419,555 
Obligations of state and political subdivisions334,172 1,520 (1,143)334,549 
Other debt securities244,314 319 (1,944)242,689 
Totals$5,286,332 $24,384 $(136,114)$5,174,602 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$477,449 $— $(92,085)$385,364 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,618 — (6,264)80,354 
Totals$564,067 $— $(98,349)$465,718 
December 31, 2025
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
AFS Debt Securities
U.S. Treasury securities and obligations of U.S. government agencies$54,831 $365 $(451)$54,745 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,681,499 41,388 (135,388)3,587,499 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities395,165 4,636 (5,928)393,873 
Private mortgage-backed securities and collateralized mortgage obligations131,846 561 (5,010)127,397 
CLOs423,864 636 (512)423,988 
Obligations of state and political subdivisions336,417 651 (2,520)334,548 
Other debt securities242,672 421 (576)242,517 
Totals$5,266,294 $48,658 $(150,385)$5,164,567 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$498,931 $— $(90,696)$408,235 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities87,247 — (5,922)81,325 
Totals$586,178 $— $(96,618)$489,560 
Schedule of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of debt securities AFS and HTM at June 30, 2026 and December 31, 2025 are summarized as follows:
June 30, 2026
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
AFS Debt Securities
U.S. Treasury securities and obligations of U.S. government agencies$61,647 $165 $(941)$60,871 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,779,175 19,016 (121,168)3,677,023 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities361,779 2,635 (4,986)359,428 
Private mortgage-backed securities and collateralized mortgage obligations85,347 214 (5,074)80,487 
CLOs419,898 515 (858)419,555 
Obligations of state and political subdivisions334,172 1,520 (1,143)334,549 
Other debt securities244,314 319 (1,944)242,689 
Totals$5,286,332 $24,384 $(136,114)$5,174,602 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$477,449 $— $(92,085)$385,364 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,618 — (6,264)80,354 
Totals$564,067 $— $(98,349)$465,718 
December 31, 2025
(In thousands)Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Fair
Value
AFS Debt Securities
U.S. Treasury securities and obligations of U.S. government agencies$54,831 $365 $(451)$54,745 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,681,499 41,388 (135,388)3,587,499 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities395,165 4,636 (5,928)393,873 
Private mortgage-backed securities and collateralized mortgage obligations131,846 561 (5,010)127,397 
CLOs423,864 636 (512)423,988 
Obligations of state and political subdivisions336,417 651 (2,520)334,548 
Other debt securities242,672 421 (576)242,517 
Totals$5,266,294 $48,658 $(150,385)$5,164,567 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$498,931 $— $(90,696)$408,235 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities87,247 — (5,922)81,325 
Totals$586,178 $— $(96,618)$489,560 
Schedule of Investments Classified by Contractual Maturity
The amortized cost and fair value of securities HTM and AFS as of June 30, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $6,280 $6,285 
Due after one year through five years— — 3,599 3,550 
Due after five years through ten years— — 50,338 49,125 
Due after ten years— — 335,602 336,460 
— — 395,819 395,420 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities477,449 385,364 3,779,175 3,677,023 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,618 80,354 361,779 359,428 
Private mortgage-backed securities and collateralized mortgage obligations— — 85,347 80,487 
CLOs— — 419,898 419,555 
Other debt securities— — 244,314 242,689 
Totals$564,067 $465,718 $5,286,332 $5,174,602 
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. Information pertaining to our securities with gross unrealized losses at June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss positions is as follows:
June 30, 2026
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$36,499 $(504)$10,743 $(437)$47,242 $(941)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities1,796,397 (23,331)431,657 (97,837)2,228,054 (121,168)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities136,722 (473)77,674 (4,513)214,396 (4,986)
Private mortgage-backed securities and collateralized mortgage obligations894 (1)68,579 (5,073)69,473 (5,074)
CLOs284,100 (575)56,235 (283)340,335 (858)
Obligations of state and political subdivisions82,243 (240)5,902 (903)88,145 (1,143)
Other debt securities139,014 (1,944)— — 139,014 (1,944)
Totals$2,475,869 $(27,068)$650,790 $(109,046)$3,126,659 $(136,114)
1Comprised of 477 individual securities.
December 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$21,846 $(31)$13,932 $(420)$35,778 $(451)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities378,739 (1,625)730,551 (133,763)1,109,290 (135,388)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities90,765 (61)95,090 (5,867)185,855 (5,928)
Private mortgage-backed securities and collateralized mortgage obligations969 (1)76,829 (5,009)77,798 (5,010)
CLOs211,052 (320)38,882 (192)249,934 (512)
Obligations of state and political subdivisions244,168 (1,445)5,730 (1,075)249,898 (2,520)
Other debt securities132,345 (576)— — 132,345 (576)
Totals$1,079,884 $(4,059)$961,014 $(146,326)$2,040,898 $(150,385)
1Comprised of 383 individual securities.