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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The following table summarizes the amortized cost and fair value of available-for-sale debt securities by major type:
 At March 31, 2022
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses
Fair Value (1)
U.S. Treasury notes$754,313 $— $(21,888)$732,425 
Government agency debentures227,161 84 (10,026)217,219 
Municipal bonds and notes1,946,946 6 (52,415)1,894,537 
Agency CMO80,766 127 (1,380)79,513 
Agency MBS2,679,206 4,347 (108,984)2,574,569 
Agency CMBS1,683,526 14 (99,720)1,583,820 
CMBS871,981 265 (8,089)864,157 
CLO14,245 — (12)14,233 
Corporate debt797,694 18 (30,668)767,044 
Other17,500 — (120)17,380 
Available-for-sale debt securities$9,073,338 $4,861 $(333,302)$8,744,897 
At December 31, 2021
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses
Fair Value (1)
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 
(1)Fair value represents net carrying value. No ACL has been recorded on available-for-sale debt securities at March 31, 2022 and December 31, 2021, as the securities held are high credit quality and investment grade.
The following table summarizes available-for-sale debt securities pledged for deposits, borrowings, and other purposes:
(In thousands)At March 31, 2022At December 31, 2021
Available-for-sale debt securities pledged for deposits, at fair value$3,761,342$855,323
Available-for-sale debt securities pledged for borrowings and other, at fair value902,581924,841
Total available-for-sale debt securities pledged$4,663,923$1,780,164
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
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:
 At March 31, 2022
 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$732,424 $(21,888)$— $— 23$732,424 $(21,888)
Government agency debentures194,636 (10,026)— — 13194,636 (10,026)
Municipal bonds and notes1,887,526 (52,415)— — 5331,887,526 (52,415)
Agency CMO65,378 (1,380)— — 2665,378 (1,380)
Agency MBS2,097,135 (90,138)171,877 (18,846)3922,269,012 (108,984)
Agency CMBS1,234,865 (67,130)348,893 (32,590)1321,583,758 (99,720)
CMBS665,550 (7,265)148,459 (824)45814,009 (8,089)
CLO— — 14,233 (12)114,233 (12)
Corporate debt753,284 (29,821)9,460 (847)104762,744 (30,668)
Other7,130 (120)— — 27,130 (120)
Available-for-sale debt securities in unrealized loss position$7,637,928 $(280,183)$692,922 $(53,119)1,271$8,330,850 $(333,302)
 At December 31, 2021
 Less Than Twelve MonthsTwelve Months or LongerTotal
(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)
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 March 31, 2022
(In thousands)Amortized CostFair Value
Due in one year or less$33,293 $33,216 
Due after one year through five years1,346,552 1,311,044 
Due after five through ten years1,522,072 1,474,896 
Due after ten years6,171,421 5,925,741 
Total available-for-sale debt securities$9,073,338 $8,744,897 
The following table summarizes the amortized cost and fair value of held-to-maturity debt securities by contractual maturity:
At March 31, 2022
(In thousands)Amortized CostFair Value
Due in one year or less$2,429 $2,448 
Due after one year through five years52,963 54,861 
Due after five years through ten years309,859 306,139 
Due after ten years5,997,207 5,728,169 
Total held-to-maturity debt securities$6,362,458 $6,091,617 
Debt Securities, Held-to-maturity
The following table summarizes the amortized cost, fair value, and ACL on held-to-maturity debt securities by major type:
At March 31, 2022
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair ValueAllowanceNet Carrying Value
Agency CMO$36,533 $54 $(856)$35,731 $— $36,533 
Agency MBS2,915,114 8,452 (128,688)2,794,878 — 2,915,114 
Agency CMBS2,548,347 33 (153,778)2,394,602 — 2,548,347 
Municipal bonds and notes696,601 12,198 (4,138)704,661 204 696,397 
CMBS165,863 62 (4,180)161,745 — 165,863 
Held-to-maturity debt securities$6,362,458 $20,799 $(291,640)$6,091,617 $204 $6,362,254 
At December 31, 2021
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair ValueAllowanceNet 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 
The following table summarizes the activity in the ACL on held-to-maturity debt securities:
Three months ended March 31,
(In thousands)20222021
Balance, beginning of period$214$299
(Benefit) provision for credit losses(10)9
Balance, end of period$204$308
The following table summarizes the amortized cost basis of held-to-maturity debt securities based on their lowest publicly available credit rating:
March 31, 2022
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A2A3Baa2Not Rated
Agency CMO$— $36,533 $— $— $— $— $— $— $— 
Agency MBS— 2,915,114 — — — — — — — 
Agency CMBS— 2,548,347 — — — — — — — 
Municipal bonds and notes207,035 117,428 226,724 98,112 35,836 8,256 — 95 3,115 
CMBS165,863 — — — — — — — — 
Held-to-maturity debt securities$372,898 $5,617,422 $226,724 $98,112 $35,836 $8,256 $— $95 $3,115 
December 31, 2021
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A2A3Baa2Not Rated
Agency CMO$— $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 
The following table summarizes held-to-maturity debt securities pledged for deposits, borrowings, and other purposes:
(In thousands)At March 31, 2022At December 31, 2021
Held-to-maturity debt securities pledged for deposits, at amortized cost$1,858,753$1,834,117
Held-to-maturity debt securities pledged for borrowing and other, at amortized cost1,026,7961,243,139
Total held-to-maturity debt securities pledged$2,885,549$3,077,256