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Investments (Tables)
9 Months Ended
Sep. 30, 2021
Investments [Abstract]  
Aggregate Values And Unrealized Gains And Losses Of Investment Securities
The amortized cost and fair value of investment securities at September 30, 2021 and December 31, 2020, were as follows:
September 30, 2021
(Dollars in thousands)
Amortized cost(1)
Gross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
Government agency$851,860 $5,348 $3,480 $853,728 
Residential mortgage-backed securities4,800,194 19,219 17,767 4,801,646 
Commercial mortgage-backed securities1,092,183 9,875 11,406 1,090,652 
Corporate bonds600,906 25,295 1,098 625,103 
Total investment securities available for sale$7,345,143 $59,737 $33,751 $7,371,129 
Investment in marketable equity securities85,554 37,744 151 123,147 
Investment securities held to maturity
Residential mortgage-backed securities 2,122,299 5,313 15,051 2,112,561 
Commercial mortgage-backed securities 1,256,771 18,265 1,238,509 
Other2,008 — — 2,008 
Total investment securities held to maturity3,381,078 5,316 33,316 3,353,078 
Total investment securities$10,811,775 $102,797 $67,218 $10,847,354 
December 31, 2020
(Dollars in thousands)
Amortized cost(1)
Gross
unrealized
gains
Gross unrealized
losses
Fair
value
Investment securities available for sale
U.S. Treasury$499,832 $101 $— $499,933 
Government agency706,241 723 5,573 701,391 
Residential mortgage-backed securities4,369,130 70,283 1,310 4,438,103 
Commercial mortgage-backed securities745,892 25,645 — 771,537 
Corporate bonds590,870 14,437 2,028 603,279 
Total investment securities available for sale$6,911,965 $111,189 $8,911 $7,014,243 
Investment in marketable equity securities84,837 8,654 1,811 91,680 
Investment securities held to maturity
Residential mortgage-backed securities 1,877,692 17,689 — 1,895,381 
Commercial mortgage-backed securities 937,034 3,884 56 940,862 
Other2,256 — — 2,256 
Total investment securities held to maturity2,816,982 21,573 56 2,838,499 
Total investment securities$9,813,784 $141,416 $10,778 $9,944,422 
(1)Amortized cost includes any recorded ACL.
Investment Securities Maturity Information
The following table provides the amortized cost and fair value by contractual maturity for investment securities available for sale and held to maturity. Expected maturities will differ from contractual maturities on certain securities because issuers and borrowers of underlying collateral may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date.
 September 30, 2021December 31, 2020
(Dollars in thousands)
Amortized cost(1)
Fair
value
Amortized cost(1)
Fair
value
Investment securities available for sale
Non-amortizing securities maturing in:
One year or less$1,204 $1,208 $500,846 $500,954 
One through five years37,248 38,540 72,565 73,881 
Five through 10 years545,754 568,692 508,320 519,570 
Over 10 years16,700 16,663 8,971 8,807 
Government agency851,860 853,728 706,241 701,391 
Residential mortgage-backed securities4,800,194 4,801,646 4,369,130 4,438,103 
Commercial mortgage-backed securities1,092,183 1,090,652 745,892 771,537 
Total investment securities available for sale$7,345,143 $7,371,129 $6,911,965 $7,014,243 
Investment securities held to maturity
Non-amortizing securities maturing in:
One year or less1,259 1,259 1,507 1,507 
One through five years749 749 749 749 
Residential mortgage-backed securities 2,122,299 2,112,561 1,877,692 1,895,381 
Commercial mortgage-backed securities 1,256,771 1,238,509 937,034 940,862 
Total investment securities held to maturity$3,381,078 $3,353,078 $2,816,982 $2,838,499 
(1)Amortized cost includes any recorded ACL.
Debt Securities, Available-for-sale
The following table provides the gross realized gains and losses on the sales of investment securities available for sale for the three and nine months ended September 30, 2021 and 2020:
Three months ended September 30Nine months ended September 30
(Dollars in thousands)2021202020212020
Gross realized gains on sales of investment securities available for sale$8,082 $21,425 $33,133 $55,651 
Gross realized losses on sales of investment securities available for sale— — (14)(679)
Net realized gains on sales of investment securities available for sale$8,082 $21,425 $33,119 $54,972 
Marketable Securities Gains (Losses)
The following table provides the realized and unrealized gains and losses on marketable equity securities for the three and nine months ended September 30, 2021 and 2020:
Three months ended September 30Nine months ended September 30
(Dollars in thousands)2021202020212020
Marketable equity securities gains (losses), net$3,350 $(2,701)$31,015 $10,461 
Less net gains recognized on marketable equity securities sold— 2,568 263 39,884 
Unrealized gains (losses) recognized on marketable equity securities held$3,350 $(5,269)$30,752 $(29,423)
Investment Securities With Unrealized Losses
The following table provides information regarding securities with unrealized losses as of September 30, 2021 and December 31, 2020:
September 30, 2021
 Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$302,114 $2,857 $119,231 $623 $421,345 $3,480 
Residential mortgage-backed securities2,137,675 17,752 1,762 $15 2,139,437 17,767 
Commercial mortgage-backed securities758,798 11,406 — $— 758,798 11,406 
Corporate bonds42,593 1,042 10,444 $56 53,037 1,098 
Total$3,241,180 $33,057 $131,437 $694 $3,372,617 $33,751 
December 31, 2020
Less than 12 months12 months or moreTotal
(Dollars in thousands)Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Fair
value
Unrealized
losses
Investment securities available for sale
Government agency$268,622 $3,197 $328,777 $2,376 $597,399 $5,573 
Residential mortgage-backed securities433,816 1,241 23,064 69 456,880 1,310 
Corporate bonds57,715 2,028 — — 57,715 2,028 
Total$760,153 $6,466 $351,841 $2,445 $1,111,994 $8,911