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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investment securities available for sale The amortized cost and fair values of AFS and HTM securities at March 31, 2023 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U. S. Treasury securities$124,478 $— $(12,735)$111,743 
Agency securities15,000 — (1,271)13,730 
Obligations of state and political subdivisions (municipal securities)230,673 291 (2,063)228,902 
Residential mortgage-related securities:
FNMA/FHLMC1,768,846 260 (194,529)1,574,578 
GNMA1,092,742 7,273 (4,427)1,095,588 
Commercial mortgage-related securities:
FNMA/FHLMC18,952 — (1,335)17,618 
GNMA194,550 17 (5,101)189,466 
Asset backed securities:
FFELP147,876 — (4,791)143,084 
SBA4,020 13 (50)3,983 
Other debt securities3,000 — (82)2,918 
Total AFS investment securities$3,600,137 $7,854 $(226,383)$3,381,607 
HTM investment securities
U. S. Treasury securities$999 $— $(51)$947 
Obligations of state and political subdivisions (municipal securities)1,720,177 4,888 (146,544)1,578,521 
Residential mortgage-related securities:
FNMA/FHLMC981,065 30,284 (163,514)847,835 
GNMA53,298 195 (2,897)50,596 
Private-label361,170 11,242 (71,147)301,265 
Commercial mortgage-related securities:
FNMA/FHLMC785,516 14,657 (156,369)643,803 
GNMA64,859 502 (6,826)58,536 
Total HTM investment securities$3,967,083 $61,768 $(547,349)$3,481,502 
The amortized cost and fair values of AFS and HTM securities at December 31, 2022 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U. S. Treasury securities$124,441 $— $(15,063)$109,378 
Agency securities15,000 — (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)235,693 96 (5,074)230,714 
Residential mortgage-related securities:
FNMA/FHLMC1,820,642 404 (216,436)1,604,610 
GNMA502,537 314 (5,255)497,596 
Commercial mortgage-related securities:
FNMA/FHLMC19,038 — (1,896)17,142 
GNMA115,031 — (4,569)110,462 
Asset backed securities:
FFELP157,138 — (5,947)151,191 
SBA4,512 15 (51)4,477 
Other debt securities3,000 — (78)2,922 
Total AFS investment securities$2,997,032 $830 $(255,837)$2,742,025 
HTM investment securities
U. S. Treasury securities$999 $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)1,732,351 1,994 (182,697)1,551,647 
Residential mortgage-related securities:
FNMA/FHLMC961,231 31,301 (175,760)816,771 
GNMA52,979 85 (3,436)49,628 
Private-label364,728 11,697 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 15,324 (178,281)615,839 
GNMA69,369 577 (7,254)62,691 
 Total HTM investment securities$3,960,451 $60,978 $(620,411)$3,401,018 
Investment securities held to maturity The amortized cost and fair values of AFS and HTM securities at March 31, 2023 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U. S. Treasury securities$124,478 $— $(12,735)$111,743 
Agency securities15,000 — (1,271)13,730 
Obligations of state and political subdivisions (municipal securities)230,673 291 (2,063)228,902 
Residential mortgage-related securities:
FNMA/FHLMC1,768,846 260 (194,529)1,574,578 
GNMA1,092,742 7,273 (4,427)1,095,588 
Commercial mortgage-related securities:
FNMA/FHLMC18,952 — (1,335)17,618 
GNMA194,550 17 (5,101)189,466 
Asset backed securities:
FFELP147,876 — (4,791)143,084 
SBA4,020 13 (50)3,983 
Other debt securities3,000 — (82)2,918 
Total AFS investment securities$3,600,137 $7,854 $(226,383)$3,381,607 
HTM investment securities
U. S. Treasury securities$999 $— $(51)$947 
Obligations of state and political subdivisions (municipal securities)1,720,177 4,888 (146,544)1,578,521 
Residential mortgage-related securities:
FNMA/FHLMC981,065 30,284 (163,514)847,835 
GNMA53,298 195 (2,897)50,596 
Private-label361,170 11,242 (71,147)301,265 
Commercial mortgage-related securities:
FNMA/FHLMC785,516 14,657 (156,369)643,803 
GNMA64,859 502 (6,826)58,536 
Total HTM investment securities$3,967,083 $61,768 $(547,349)$3,481,502 
The amortized cost and fair values of AFS and HTM securities at December 31, 2022 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U. S. Treasury securities$124,441 $— $(15,063)$109,378 
Agency securities15,000 — (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)235,693 96 (5,074)230,714 
Residential mortgage-related securities:
FNMA/FHLMC1,820,642 404 (216,436)1,604,610 
GNMA502,537 314 (5,255)497,596 
Commercial mortgage-related securities:
FNMA/FHLMC19,038 — (1,896)17,142 
GNMA115,031 — (4,569)110,462 
Asset backed securities:
FFELP157,138 — (5,947)151,191 
SBA4,512 15 (51)4,477 
Other debt securities3,000 — (78)2,922 
Total AFS investment securities$2,997,032 $830 $(255,837)$2,742,025 
HTM investment securities
U. S. Treasury securities$999 $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)1,732,351 1,994 (182,697)1,551,647 
Residential mortgage-related securities:
FNMA/FHLMC961,231 31,301 (175,760)816,771 
GNMA52,979 85 (3,436)49,628 
Private-label364,728 11,697 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 15,324 (178,281)615,839 
GNMA69,369 577 (7,254)62,691 
 Total HTM investment securities$3,960,451 $60,978 $(620,411)$3,401,018 
Amortized cost and fair values of investment securities by contractual maturity The expected maturities of AFS and HTM securities at March 31, 2023, are shown below:
 AFSHTM
($ in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$6,773 $6,768 $14,358 $14,350 
Due after one year through five years179,763 165,292 36,046 35,926 
Due after five years through ten years150,181 149,003 161,217 159,591 
Due after ten years36,434 36,229 1,509,554 1,369,602 
Total debt securities373,151 357,292 1,721,175 1,579,468 
Residential mortgage-related securities:
FNMA/FHLMC1,768,846 1,574,578 981,065 847,835 
GNMA1,092,742 1,095,588 53,298 50,596 
Private-label— — 361,170 301,265 
Commercial mortgage-related securities:
FNMA/FHLMC18,952 17,618 785,516 643,803 
GNMA194,550 189,466 64,859 58,536 
Asset backed securities:
FFELP 147,876 143,084 — — 
SBA4,020 3,983 — — 
Total investment securities$3,600,137 $3,381,607 $3,967,083 $3,481,502 
Ratio of fair value to amortized cost93.9 %87.8 %
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table summarizes the credit quality indicators of HTM securities at amortized cost at March 31, 2023:
($ in thousands)AAAAAANot RatedTotal
U. S. Treasury securities$999 $— $— $— $999 
Obligations of state and political subdivisions (municipal securities)807,729 903,689 7,602 1,157 1,720,177 
Residential mortgage-related securities:
FNMA/FHLMC981,065 — — — 981,065 
GNMA53,298 — — — 53,298 
Private-label361,170 — — — 361,170 
Commercial mortgage-related securities:
FNMA/FHLMC785,516 — — — 785,516 
GNMA 64,859 — — — 64,859 
Total HTM securities$3,054,635 $903,689 $7,602 $1,157 $3,967,083 
The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2022:
($ in thousands)AAAAAANot RatedTotal
U. S. Treasury securities$999 $— $— $— $999 
Obligations of state and political subdivisions (municipal securities)806,529 917,059 7,604 1,158 1,732,351 
Residential mortgage-related securities:
FNMA/FHLMC961,231 — — — 961,231 
GNMA52,979 — — — 52,979 
Private-label364,728 — — — 364,728 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 — — — 778,796 
GNMA 69,369 — — — 69,369 
Total HTM securities$3,034,630 $917,059 $7,604 $1,158 $3,960,451 
Realized gains and losses and proceeds from sale The following table summarizes gross realized gains and losses on AFS securities, net write-up of equity securities, and proceeds from the sale of investment securities for the three months ended March 31, 2023 and 2022:
Three Months Ended Mar 31,
($ in thousands)20232022
Gross gains on AFS securities$— $21 
Net write-up of equity securities51 — 
Investment securities gains (losses), net$51 $21 
Proceeds from sales of AFS investment securities$— $734 
Unrealized losses and fair value of available for sale and held to maturity securities, by investment category and time length The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at March 31, 2023:
 Less than 12 months12 months or moreTotal
($ in thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value
AFS investment securities
U.S. Treasury securities— $— $— 7 $(12,735)$111,743 $(12,735)$111,743 
Agency securities— — — 1 (1,271)13,730 (1,271)13,730 
Obligations of state and political subdivisions (municipal securities)189 (1,025)111,529 72 (1,037)40,199 (2,063)151,727 
Residential mortgage-related securities:
FNMA/FHLMC12 (3,619)51,021 96 (190,909)1,504,384 (194,529)1,555,405 
GNMA23 (2,583)294,212 9 (1,844)33,128 (4,427)327,340 
Commercial mortgage-related securities:
FNMA/FHLMC— — — 1 (1,335)17,618 (1,335)17,618 
GNMA13 (1,039)100,585 29 (4,062)74,665 (5,101)175,250 
Asset backed securities:
FFELP— — — 15 (4,791)143,084 (4,791)143,084 
SBA2 (1)331 6 (49)1,755 (50)2,087 
Other debt securities1 (31)969 2 (51)1,949 (82)2,918 
Total240 $(8,299)$558,647 238 $(218,084)$1,942,255 $(226,383)$2,500,901 
HTM investment securities
U.S. Treasury securities— $— $— 1 $(51)$947 $(51)$947 
Obligations of state and political subdivisions (municipal securities)311 (7,598)454,461 400 (138,946)614,842 (146,544)1,069,304 
Residential mortgage-related securities:
FNMA/FHLMC63 (2,881)75,386 50 (160,633)762,280 (163,514)837,666 
GNMA16 (168)6,511 63 (2,729)32,771 (2,897)39,282 
Private-label— — — 18 (71,147)301,265 (71,147)301,265 
 Commercial mortgage-related securities:
FNMA/FHLMC4 (473)29,658 41 (155,897)614,153 (156,369)643,811 
GNMA— — — 14 (6,826)58,536 (6,826)58,536 
Total394 $(11,120)$566,017 587 $(536,229)$2,384,794 $(547,349)$2,950,811 
For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2022:
 Less than 12 months12 months or moreTotal
($ in thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value
AFS investment securities
U.S. Treasury securities— $— $— 7 $(15,063)$109,378 $(15,063)$109,378 
Agency securities— — — 1 (1,468)13,532 (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)358 (5,066)201,260 4 (8)1,916 (5,074)203,176 
Residential mortgage-related securities:
FNMA/FHLMC24 (31,266)260,986 84 (185,170)1,321,420 (216,436)1,582,406 
GNMA23 (4,415)220,276 2 (840)11,096 (5,255)231,372 
Commercial mortgage-related securities:
FNMA/FHLMC1 (1,896)17,142 — — — (1,896)17,142 
GNMA33 (3,920)101,036 4 (649)9,426 (4,569)110,462 
Asset backed securities:
FFELP3 (1,668)44,304 12 (4,278)106,887 (5,947)151,191 
SBA2 (1)417 6 (50)2,057 (51)2,474 
Other debt securities2 (30)1,970 1 (49)951 (78)2,922 
Total446 $(48,263)$847,391 121 $(207,575)$1,576,665 $(255,837)$2,424,055 
HTM investment securities
U.S. Treasury securities1 $(62)$936 — $— $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)771 (96,282)1,079,216 156 (86,415)231,022 (182,697)1,310,238 
Residential mortgage-related securities:
FNMA/FHLMC79 (18,925)143,201 22 (156,836)671,570 (175,760)814,770 
GNMA81 (3,436)44,476 — — — (3,436)44,476 
Private-label3 (9,509)58,733 15 (63,411)244,772 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC4 (3,814)20,338 39 (174,467)576,911 (178,281)597,249 
GNMA8 (2,528)34,612 6 (4,726)28,080 (7,254)62,691 
Total947 $(134,556)$1,381,511 238 $(485,855)$1,752,354 $(620,411)$3,133,865