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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Summary of Investment Securities
Available-for-Sale
The following table summarizes the amortized cost and fair value of available-for-sale debt securities by major type:
At December 31, 2021
(In thousands)
Amortized
Cost (1)
Gross Unrealized
Gains		Gross Unrealized
Losses
Fair Value (2)
U.S. Treasury notes$398,664 $— $(1,698)$396,966 
Agency CMO88,109 2,326 (51)90,384 
Agency MBS1,568,293 36,130 (11,020)1,593,403 
Agency CMBS1,248,548 2,537 (18,544)1,232,541 
CMBS887,640 506 (1,883)886,263 
CLO21,860 — (13)21,847 
Corporate debt14,583 — (1,133)13,450 
Available-for-sale debt securities$4,227,697 $41,499 $(34,342)$4,234,854 
At December 31, 2020
(In thousands)
Amortized
Cost (1)
Gross Unrealized
Gains		Gross Unrealized
Losses
Fair Value (2)
Agency CMO$148,711 $6,000 $(98)$154,613 
Agency MBS1,389,100 68,598 (289)1,457,409 
Agency CMBS1,092,430 26,317 (1,514)1,117,233 
CMBS512,759 1,082 (5,823)508,018 
CLO76,693 — (310)76,383 
Corporate debt14,557 — (1,437)13,120 
Available-for-sale debt securities$3,234,250 $101,997 $(9,471)$3,326,776 
(1)Accrued interest receivable of $7.5 million at both December 31, 2021 and 2020 is excluded from amortized cost and is reported within accrued interest receivable and other assets on the accompanying Consolidated Balance Sheets.
(2)Fair value represents net carrying value. No ACL has been recorded on available-for-sale debt securities at December 31, 2021 and 2020, as the securities held are high credit quality and investment grade.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
Unrealized Losses
The following table summarizes the gross unrealized losses and fair value of available-for-sale debt securities by length of time each major security type has been in a continuous unrealized loss position and for which an ACL has not been recorded:
 At December 31, 2021
 Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		# of
Holdings		Fair
Value		Unrealized
Losses
U.S. Treasury notes$396,966 $(1,698)$— $— 8$396,966 $(1,698)
Agency CMO7,895 (51)— — 27,895 (51)
Agency MBS506,602 (7,354)110,687 (3,666)70617,289 (11,020)
Agency CMBS632,213 (6,163)335,480 (12,381)28967,693 (18,544)
CMBS724,762 (1,744)81,253 (139)50806,015 (1,883)
CLO— — 21,848 (13)121,848 (13)
Corporate debt4,203 (76)9,247 (1,057)313,450 (1,133)
Available-for-sale debt securities
in unrealized loss position		$2,272,641 $(17,086)$558,515 $(17,256)162$2,831,156 $(34,342)
 At December 31, 2020
 Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		# of
Holdings		Fair
Value		Unrealized
Losses
Agency CMO$13,137 $(49)$5,944 $(49)5$19,081 $(98)
Agency MBS33,742 (219)4,561 (70)3038,303 (289)
Agency CMBS376,330 (1,514)— — 8376,330 (1,514)
CMBS409,591 (5,486)23,167 (337)38432,758 (5,823)
CLO57,728 (265)18,655 (45)476,383 (310)
Corporate debt4,100 (166)9,020 (1,271)313,120 (1,437)
Available-for-sale debt securities
in unrealized loss position		$894,628 $(7,699)$61,347 $(1,772)88$955,975 $(9,471)
Debt Securities, Held-to-maturity
The following table summarizes the amortized cost, fair value, and ACL of held-to-maturity debt securities by major type:
At December 31, 2021
(In thousands)
Amortized
Cost (1)
Gross Unrealized
Gains		Gross Unrealized
Losses		Fair ValueAllowance for Credit LossesNet Carrying Value
Agency CMO$42,405 $655 $(25)$43,035 $— $42,405 
Agency MBS2,901,593 71,444 (11,788)2,961,249 — 2,901,593 
Agency CMBS2,378,475 11,202 (43,844)2,345,833 — 2,378,475 
Municipal bonds and notes705,918 51,572 — 757,490 214 705,704 
CMBS169,948 3,381 — 173,329 — 169,948 
Held-to-maturity debt securities$6,198,339 $138,254 $(55,657)$6,280,936 $214 $6,198,125 
At December 31, 2020
(In thousands)
Amortized
Cost (1)
Gross Unrealized
Gains		Gross Unrealized
Losses		Fair ValueAllowance for Credit LossesNet Carrying Value
Agency CMO$91,622 $1,785 $(241)$93,166 $— $91,622 
Agency MBS2,419,751 137,863 (84)2,557,530 — 2,419,751 
Agency CMBS2,101,227 60,484 (2,213)2,159,498 — 2,101,227 
Municipal bonds and notes739,507 60,371 (3)799,875 299 739,208 
CMBS216,081 9,214 — 225,295 — 216,081 
Held-to-maturity debt securities$5,568,188 $269,717 $(2,541)$5,835,364 $299 $5,567,889 
(1)Accrued interest receivable of $21.2 million and $22.1 million at December 31, 2021 and December 31, 2020, respectively, is excluded from amortized cost and is reported within accrued interest receivable and other assets on the accompanying Consolidated Balance Sheets.
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table summarizes the activity in the ACL on held-to-maturity debt securities:
Years ended December 31,
(In thousands)20212020
Balance, beginning of period (1)
$299$—
Adoption of CECL—397
(Benefit) for credit losses(85)(98)
Balance, end of period$214$299
(1)The Company adopted CECL on January 1, 2020. The prior period beginning balance did not have an allowance recorded under the applicable GAAP for that period.
Summary of Debt Securities by Contractual Maturity The following table summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity:
At December 31, 2021
(In thousands)Amortized
Cost		Fair Value
Maturing within 1 year$— $— 
After 1 year through 5 years401,668 400,037 
After 5 years through 10 years113,288 113,260 
After 10 years3,712,741 3,721,557 
Available-for-sale debt securities$4,227,697 $4,234,854 
The table summarizes the amortized cost and fair value of held-to-maturity debt securities by contractual maturity:
At December 31, 2021
(In thousands)Amortized
Cost		Fair Value
Maturing within 1 year$180 $180 
After 1 year through 5 years7,425 7,712 
After 5 years through 10 years292,727 304,190 
After 10 years5,898,007 5,968,854 
Held-to-maturity debt securities$6,198,339 $6,280,936 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table summarizes the amortized cost basis of held-to-maturity debt securities based on their lowest credit rating made publicly available:
At December 31, 2021
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A2A3Baa2Not Rated
Agency CMOs$— $42,405 $— $— $— $— $— $— $— 
Agency MBS— 2,901,593 — — — — — — — 
Agency CMBS— 2,378,475 — — — — — — — 
Municipal bonds and notes207,426 119,804 227,106 104,232 35,878 8,260 — 95 3,117 
CMBS169,948 — — — — — — — — 
Held-to-maturity
debt securities		$377,374 $5,442,277 $227,106 $104,232 $35,878 $8,260 $— $95 $3,117 
At December 31, 2020
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A2A3Baa2Not Rated
Agency CMOs$— $91,622 $— $— $— $— $— $— $— 
Agency MBS— 2,419,751 — — — — — — — 
Agency CMBS— 2,101,227 — — — — — — — 
Municipal bonds and notes209,376 165,056 201,081 115,619 33,264 8,475 2,066 190 4,380 
CMBS216,081 — — — — — — — — 
Held-to-maturity
debt securities		$425,457 $4,777,656 $201,081 $115,619 $33,264 $8,475 $2,066 $190 $4,380