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Securities (Tables)
3 Months Ended
Mar. 31, 2023
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities Available for Sale

 

March 31, 2023

 

December 31, 2022

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Available for Sale

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

113,016

 

$

287

 

$

1,788

 

$

111,515

 

$

113,211

 

$

 

$

2,346

 

$

110,865

 

Municipal obligations

 

206,219

 

 

247

 

 

1,997

 

 

204,469

 

 

207,014

 

 

59

 

 

3,981

 

 

203,092

 

Residential mortgage-backed securities

 

2,583,935

 

 

240

 

 

364,911

 

 

2,219,264

 

 

2,655,381

 

 

224

 

 

398,619

 

 

2,256,986

 

Commercial mortgage-backed securities

 

3,239,281

 

 

2,899

 

 

299,575

 

 

2,942,605

 

 

3,234,278

 

 

2,032

 

 

342,880

 

 

2,893,430

 

Collateralized mortgage obligations

 

72,884

 

 

 

 

5,241

 

 

67,643

 

 

76,830

 

 

 

 

6,242

 

 

70,588

 

Corporate debt securities

 

23,500

 

 

 

 

3,376

 

 

20,124

 

 

23,500

 

 

 

 

2,420

 

 

21,080

 



$

6,238,835

 

$

3,673

 

$

676,888

 

$

5,565,620

 

$

6,310,214

 

$

2,315

 

$

756,488

 

$

5,556,041

 

Amortized Cost and Fair Value of Debt Securities Held to Maturity

 

March 31, 2023

 

December 31, 2022

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Held to Maturity

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

427,643

 

$

824

 

$

41,538

 

$

386,929

 

$

426,454

 

$

21

 

$

49,044

 

$

377,431

 

Municipal obligations

 

696,471

 

 

1,987

 

 

19,262

 

 

679,196

 

 

698,908

 

 

753

 

 

26,558

 

 

673,103

 

Residential mortgage-backed securities

 

715,499

 

 

 

 

63,526

 

 

651,973

 

 

734,478

 

 

 

 

72,532

 

 

661,946

 

Commercial mortgage-backed securities

 

944,292

 

 

 

 

77,653

 

 

866,639

 

 

948,691

 

 

 

 

87,211

 

 

861,480

 

Collateralized mortgage obligations

 

41,159

 

 

 

 

2,136

 

 

39,023

 

 

43,964

 

 

 

 

2,526

 

 

41,438

 



$

2,825,064

 

$

2,811

 

$

204,115

 

$

2,623,760

 

$

2,852,495

 

$

774

 

$

237,871

 

$

2,615,398

 

Proceeds from Gross Gains on and Gross Losses on Sale of Securities

The following table presents the proceeds from, gross gains on, and gross losses on sales of securities during the three months ended March 31, 2023 and 2022. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

 

Three Months Ended
 March 31,

 

($ in thousands)

 

2023

 

 

2022

 

Proceeds

 

$

 

 

$

73,219

 

Gross gains

 

 

 

 

 

 

Gross losses

 

 

 

 

 

87

 

Net gain (loss)

 

$

 

 

$

(87

)

Available for Sale Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Available for Sale

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

72

 

 

$

72

 

Due after one year through five years

 

 

1,024,989

 

 

 

979,364

 

Due after five years through ten years

 

 

2,980,929

 

 

 

2,699,847

 

Due after ten years

 

 

2,232,845

 

 

 

1,886,337

 

Total available for sale debt securities

 

$

6,238,835

 

 

$

5,565,620

 

Securities with Unrealized Losses

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2023

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

49,332

 

 

$

382

 

 

$

8,070

 

 

$

1,406

 

 

$

57,402

 

 

$

1,788

 

Municipal obligations

 

 

85,570

 

 

 

649

 

 

 

86,444

 

 

 

1,348

 

 

 

172,014

 

 

 

1,997

 

Residential mortgage-backed securities

 

 

137,406

 

 

 

4,437

 

 

 

2,071,526

 

 

 

360,474

 

 

 

2,208,932

 

 

 

364,911

 

Commercial mortgage-backed securities

 

 

318,876

 

 

 

14,695

 

 

 

2,570,771

 

 

 

284,880

 

 

 

2,889,647

 

 

 

299,575

 

Collateralized mortgage obligations

 

 

 

 

 

 

 

 

67,643

 

 

 

5,241

 

 

 

67,643

 

 

 

5,241

 

Corporate debt securities

 

 

1,820

 

 

 

180

 

 

 

17,804

 

 

 

3,196

 

 

 

19,624

 

 

 

3,376

 



 

$

593,004

 

 

$

20,343

 

 

$

4,822,258

 

 

$

656,545

 

 

$

5,415,262

 

 

$

676,888

 

 

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

 

 

 

 

Gross

 

 

 

 

Gross

 

 

 

 

Gross

 

 

 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

($ in thousands)

 

Value

 

Losses

 

 

Value

 

Losses

 

 

Value

 

Losses

 

U.S. Treasury and government agency securities

 

$

102,607

 

 

754

 

 

$

8,258

 

$

1,592

 

 

$

110,865

 

$

2,346

 

Municipal obligations

 

 

192,334

 

 

3,981

 

 

 

 

 

 

 

 

192,334

 

 

3,981

 

Residential mortgage-backed securities

 

 

636,060

 

 

49,790

 

 

 

1,611,832

 

 

348,829

 

 

 

2,247,892

 

 

398,619

 

Commercial mortgage-backed securities

 

 

1,489,974

 

 

114,195

 

 

 

1,351,530

 

 

228,685

 

 

 

2,841,504

 

 

342,880

 

Collateralized mortgage obligations

 

 

41,703

 

 

3,275

 

 

 

28,884

 

 

2,967

 

 

 

70,587

 

 

6,242

 

Corporate debt securities

 

 

13,194

 

 

1,306

 

 

 

7,386

 

 

1,114

 

 

 

20,580

 

 

2,420

 



 

$

2,475,872

 

$

173,301

 

 

$

3,007,890

 

$

583,187

 

 

$

5,483,762

 

$

756,488

 

 

Held-to-maturity Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Held to Maturity

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

11,637

 

 

$

11,573

 

Due after one year through five years

 

 

538,020

 

 

 

520,589

 

Due after five years through ten years

 

 

918,433

 

 

 

851,024

 

Due after ten years

 

 

1,356,974

 

 

 

1,240,574

 

Total held to maturity securities

 

$

2,825,064

 

 

$

2,623,760

 

Securities with Unrealized Losses

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2023

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 



 

 

 

Gross

 

 

 

 

Gross

 

 

 

 

Gross

 



 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

($ in thousands)

 

Value

 

Losses

 

 

Value

 

Losses

 

 

Value

 

Losses

 

U.S. Treasury and government agency securities

 

$

49,176

 

$

2,085

 

 

$

305,813

 

$

39,453

 

 

$

354,989

 

$

41,538

 

Municipal obligations

 

 

240,561

 

 

1,452

 

 

 

183,368

 

 

17,810

 

 

 

423,929

 

 

19,262

 

Residential mortgage-backed securities

 

 

225,019

 

 

9,134

 

 

 

426,955

 

 

54,392

 

 

 

651,974

 

 

63,526

 

Commercial mortgage-backed securities

 

 

159,220

 

 

6,140

 

 

 

707,420

 

 

71,513

 

 

 

866,640

 

 

77,653

 

Collateralized mortgage obligations

 

 

2,662

 

 

30

 

 

 

36,360

 

 

2,106

 

 

 

39,022

 

 

2,136

 



 

$

676,638

 

$

18,841

 

 

$

1,659,916

 

$

185,274

 

 

$

2,336,554

 

$

204,115

 

 

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 



 

 

 

Gross

 

 

 

 

Gross

 

 

 

 

Gross

 



 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

 

Fair

 

Unrealized

 

($ in thousands)

 

Value

 

Losses

 

 

Value

 

Losses

 

 

Value

 

Losses

 

U.S. Treasury and government agency securities

 

$

145,893

 

$

13,245

 

 

$

226,499

 

$

35,799

 

 

$

372,392

 

$

49,044

 

Municipal obligations

 

 

560,288

 

 

8,878

 

 

 

64,346

 

 

17,680

 

 

 

624,634

 

 

26,558

 

Residential mortgage-backed securities

 

 

391,146

 

 

30,515

 

 

 

270,800

 

 

42,017

 

 

 

661,946

 

 

72,532

 

Commercial mortgage-backed securities

 

 

697,827

 

 

56,899

 

 

 

163,653

 

 

30,312

 

 

 

861,480

 

 

87,211

 

Collateralized mortgage obligations

 

 

41,438

 

 

2,526

 

 

 

 

 

 

 

 

41,438

 

 

2,526

 



 

$

1,836,592

 

$

112,063

 

 

$

725,298

 

$

125,808

 

 

$

2,561,890

 

$

237,871