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Securities (Tables)
9 Months Ended
Sep. 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 September 30, 2026 and December 31, 2025 are summarized as follows:
September 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$60,756 $8 $(2,702)$58,062 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,728,834 195 (297,828)3,431,201 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities284,625 207 (11,177)273,655 
Private mortgage-backed securities and collateralized mortgage obligations81,000 108 (6,590)74,518 
CLOs317,266 508 (858)316,916 
Obligations of state and political subdivisions333,779 — (23,647)310,132 
Other debt securities176,779 52 (6,960)169,871 
Totals$4,983,039 $1,078 $(349,762)$4,634,355 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$466,721 $— $(109,805)$356,916 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,261 — (7,866)78,395 
Totals$552,982 $— $(117,671)$435,311 
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 September 30, 2026 and December 31, 2025 are summarized as follows:
September 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$60,756 $8 $(2,702)$58,062 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities3,728,834 195 (297,828)3,431,201 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities284,625 207 (11,177)273,655 
Private mortgage-backed securities and collateralized mortgage obligations81,000 108 (6,590)74,518 
CLOs317,266 508 (858)316,916 
Obligations of state and political subdivisions333,779 — (23,647)310,132 
Other debt securities176,779 52 (6,960)169,871 
Totals$4,983,039 $1,078 $(349,762)$4,634,355 
HTM Debt Securities
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$466,721 $— $(109,805)$356,916 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,261 — (7,866)78,395 
Totals$552,982 $— $(117,671)$435,311 
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)$489,560 
Schedule of Investments Classified by Contractual Maturity
The amortized cost and fair value of securities HTM and AFS as of September 30, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in less than one year$— $— $6,265 $6,260 
Due after one year through five years— — 2,993 2,921 
Due after five years through ten years— — 50,352 46,655 
Due after ten years— — 334,925 312,358 
— — 394,535 368,194 
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities466,721 356,916 3,728,834 3,431,201 
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities86,261 78,395 284,625 273,655 
Private mortgage-backed securities and collateralized mortgage obligations— — 81,000 74,518 
CLOs— — 317,266 316,916 
Other debt securities— — 176,779 169,871 
Totals$552,982 $435,311 $4,983,039 $4,634,355 
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 September 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:
September 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$46,460 $(2,252)$8,732 $(450)$55,192 $(2,702)
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities2,995,789 (182,019)398,717 (115,809)3,394,506 (297,828)
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities150,581 (4,669)68,196 (6,508)218,777 (11,177)
Private mortgage-backed securities and collateralized mortgage obligations7,924 (231)63,609 (6,359)71,533 (6,590)
CLOs194,479 (627)46,960 (231)241,439 (858)
Obligations of state and political subdivisions304,841 (22,133)5,291 (1,514)310,132 (23,647)
Other debt securities153,813 (6,960)— — 153,813 (6,960)
Totals$3,853,887 $(218,891)$591,505 $(130,871)$4,445,392 $(349,762)
1Comprised of 661 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.