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Securities (Tables)
12 Months Ended
Dec. 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

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

December 31, 2022

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

 

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

$

97,741

 

$

1,581

 

$

1,514

 

$

97,808

 

$

113,211

 

$

 

$

2,346

 

$

110,865

 

Municipal obligations

 

203,533

 

 

79

 

 

2,200

 

 

201,412

 

 

207,014

 

 

59

 

 

3,981

 

 

203,092

 

Residential mortgage-backed securities

 

2,440,411

 

 

2,734

 

 

329,279

 

 

2,113,866

 

 

2,655,381

 

 

224

 

 

398,619

 

 

2,256,986

 

Commercial mortgage-backed securities

 

2,683,872

 

 

7,176

 

 

253,576

 

 

2,437,472

 

 

3,234,278

 

 

2,032

 

 

342,880

 

 

2,893,430

 

Collateralized mortgage obligations

 

47,661

 

 

 

 

3,376

 

 

44,285

 

 

76,830

 

 

 

 

6,242

 

 

70,588

 

Corporate debt securities

 

23,500

 

 

 

 

3,148

 

 

20,352

 

 

23,500

 

 

 

 

2,420

 

 

21,080

 

Total

$

5,496,718

 

$

11,570

 

$

593,093

 

$

4,915,195

 

$

6,310,214

 

$

2,315

 

$

756,488

 

$

5,556,041

 

Amortized Cost and Fair Value of Debt Securities Held to Maturity

Securities Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

December 31, 2022

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

 

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

$

413,490

 

$

179

 

$

43,971

 

$

369,698

 

$

426,454

 

$

21

 

$

49,044

 

$

377,431

 

Municipal obligations

 

664,488

 

 

1,252

 

 

19,593

 

 

646,147

 

 

698,908

 

 

753

 

 

26,558

 

 

673,103

 

Residential mortgage-backed securities

 

654,262

 

 

 

 

59,223

 

 

595,039

 

 

734,478

 

 

 

 

72,532

 

 

661,946

 

Commercial mortgage-backed securities

 

920,048

 

 

 

 

75,803

 

 

844,245

 

 

948,691

 

 

 

 

87,211

 

 

861,480

 

Collateralized mortgage obligations

 

32,491

 

 

 

 

1,702

 

 

30,789

 

 

43,964

 

 

 

 

2,526

 

 

41,438

 

Total

$

2,684,779

 

$

1,431

 

$

200,292

 

$

2,485,918

 

$

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 years ended December 31, 2023, 2022 and 2021. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

Years Ended December 31,

 

($ in thousands)

2023

 

2022

 

2021

 

Proceeds

$

977,114

 

$

73,219

 

$

198,681

 

Gross gains

 

 

 

 

 

1,649

 

Gross losses

 

65,380

 

 

87

 

 

1,316

 

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

($ in thousands)

Amortized
Cost

 

Fair
Value

 

Debt Securities Available for Sale

 

 

 

 

Due in one year or less

$

115,178

 

$

113,610

 

Due after one year through five years

 

439,302

 

 

429,623

 

Due after five years through ten years

 

2,638,039

 

 

2,385,895

 

Due after ten years

 

2,304,199

 

 

1,986,067

 

Total available for sale debt securities

$

5,496,718

 

$

4,915,195

 

Securities with Unrealized Losses

Available for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

December 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

$

 

$

 

$

7,790

 

$

1,514

 

$

7,790

 

$

1,514

 

Municipal obligations

 

49,832

 

 

374

 

 

128,965

 

 

1,826

 

 

178,797

 

 

2,200

 

Residential mortgage-backed securities

 

3,062

 

 

25

 

 

1,795,154

 

 

329,254

 

 

1,798,216

 

 

329,279

 

Commercial mortgage-backed securities

 

 

 

 

 

2,227,703

 

 

253,576

 

 

2,227,703

 

 

253,576

 

Collateralized mortgage obligations

 

 

 

 

 

44,285

 

 

3,376

 

 

44,285

 

 

3,376

 

Corporate debt securities

 

 

 

 

 

19,852

 

 

3,148

 

 

19,852

 

 

3,148

 

Total

$

52,894

 

$

399

 

$

4,223,749

 

$

592,694

 

$

4,276,643

 

$

593,093

 

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

 

Total

$

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

($ in thousands)

Amortized
Cost

 

Fair
Value

 

Debt Securities Held to Maturity

 

 

 

 

Due in one year or less

$

91,699

 

$

90,110

 

Due after one year through five years

 

664,913

 

 

634,463

 

Due after five years through ten years

 

791,158

 

 

742,927

 

Due after ten years

 

1,137,009

 

 

1,018,418

 

Total held to maturity debt securities

$

2,684,779

 

$

2,485,918

 

Securities with Unrealized Losses

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

December 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

$

9,530

 

$

63

 

$

339,533

 

$

43,908

 

$

349,063

 

$

43,971

 

Municipal obligations

 

343,401

 

 

1,801

 

 

226,165

 

 

17,792

 

 

569,566

 

 

19,593

 

Residential mortgage-backed securities

 

 

 

 

 

595,039

 

 

59,223

 

 

595,039

 

 

59,223

 

Commercial mortgage-backed securities

 

 

 

 

 

844,245

 

 

75,803

 

 

844,245

 

 

75,803

 

Collateralized mortgage obligations

 

 

 

 

 

30,789

 

 

1,702

 

 

30,789

 

 

1,702

 

Total

$

352,931

 

$

1,864

 

$

2,035,771

 

$

198,428

 

$

2,388,702

 

$

200,292

 

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

 

Total

$

1,836,592

 

$

112,063

 

$

725,298

 

$

125,808

 

$

2,561,890

 

$

237,871