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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The following tables summarize the amortized cost and fair value of available-for-sale securities by major type:
 At March 31, 2024
(In thousands)
Amortized
Cost (1)
Unrealized
Gains		Unrealized
Losses		Fair Value
Government agency debentures$302,261 $— $(39,773)$262,488 
Municipal bonds and notes1,257,643 23 (50,316)1,207,350 
Agency CMO50,422 — (4,186)46,236 
Agency MBS3,629,162 19,414 (284,162)3,364,414 
Agency CMBS2,619,079 12,555 (310,404)2,321,230 
CMBS752,086 32 (20,267)731,851 
Corporate debt693,093 142 (76,026)617,209 
Private label MBS46,044 — (4,736)41,308 
Other9,836 — (781)9,055 
Total available-for-sale$9,359,626 $32,166 $(790,651)$8,601,141 
At December 31, 2023
(In thousands)
Amortized
Cost (1)
Unrealized
Gains		Unrealized
Losses		Fair Value
Government agency debentures$302,212 $— $(37,579)$264,633
Municipal bonds and notes1,626,126 8 (52,901)1,573,233
Agency CMO52,994 — (4,053)48,941
Agency MBS3,568,140 32,461 (253,503)3,347,098
Agency CMBS2,569,438 18,204 (299,571)2,288,071
CMBS788,478 — (24,729)763,749
Corporate debt704,569 — (82,414)622,155
Private label MBS 46,635 — (3,827)42,808
Other9,830 — (789)9,041
Total available-for-sale$9,668,422 $50,673 $(759,366)$8,959,729 
(1)Accrued interest receivable on available-for-sale securities of $43.6 million and $42.5 million at March 31, 2024, and December 31, 2023, respectively, is excluded from amortized cost and is included in Accrued interest receivable and other assets on the accompanying Condensed Consolidated Balance Sheets.
The following table summarizes the carrying value of available-for-sale securities pledged for deposits, borrowings, and other purposes:
(In thousands)At March 31, 2024At December 31, 2023
Pledged for deposits$2,418,726$2,102,115
Pledged for borrowings and other5,687,1366,111,430
Total available-for-sale securities pledged$8,105,862$8,213,545
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables summarize the gross unrealized losses and fair value of available-for-sale securities by length of time each major security type has been in a continuous unrealized loss position:
 At March 31, 2024
 Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Holdings		Fair
Value		Unrealized
Losses
Government agency debentures$— $— $262,488 $(39,773)19$262,488 $(39,773)
Municipal bonds and notes16,078 (179)1,180,389 (50,137)3461,196,467 (50,316)
Agency CMO— — 46,236 (4,186)3646,236 (4,186)
Agency MBS187,534 (892)1,930,864 (283,270)4622,118,398 (284,162)
Agency CMBS424,108 (16,031)1,356,358 (294,373)1481,780,466 (310,404)
CMBS34,913 (87)674,009 (20,180)40708,922 (20,267)
Corporate debt— — 612,760 (76,026)89612,760 (76,026)
Private label MBS— — 41,308 (4,736)341,308 (4,736)
Other— — 9,055 (781)29,055 (781)
Total$662,633 $(17,189)$6,113,467 $(773,462)1,145$6,776,100 $(790,651)
 At December 31, 2023
 Less Than Twelve MonthsTwelve Months or LongerTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Holdings		Fair
Value		Unrealized
Losses
Government agency debentures$— $— $264,633 $(37,579)19$264,633 $(37,579)
Municipal bonds and notes 18,066 (124)1,536,656 (52,777)3861,554,722 (52,901)
Agency CMO— — 48,941 (4,053)3648,941 (4,053)
Agency MBS71,187 (272)1,945,221 (253,231)4572,016,408 (253,503)
Agency CMBS430,070 (16,137)1,314,681 (283,434)1451,744,751 (299,571)
CMBS43,844 (856)719,905 (23,873)42763,749 (24,729)
Corporate debt4,278 (27)617,877 (82,387)91622,155 (82,414)
Private label MBS— — 42,808 (3,827)342,808 (3,827)
Other— — 9,041 (789)29,041 (789)
Total$567,445 $(17,416)$6,499,763 $(741,950)1,181$7,067,208 $(759,366)
Summary of Debt Securities by Contractual Maturity
The following table summarizes the amortized cost and fair value of available-for-sale securities by contractual maturity:
At March 31, 2024
(In thousands)Amortized CostFair Value
Maturing within 1 year$32,356 $31,621 
After 1 year through 5 years597,123 565,463 
After 5 through 10 years1,271,850 1,173,728 
After 10 years7,458,297 6,830,329 
Total available-for-sale$9,359,626 $8,601,141 
The following table summarizes the amortized cost and fair value of held-to-maturity securities by contractual maturity:
At March 31, 2024
(In thousands)Amortized CostFair Value
Maturing within 1 year$29,846 $29,771 
After 1 year through 5 years94,598 89,326 
After 5 through 10 years299,712 288,067 
After 10 years7,255,919 6,375,703 
Total held-to-maturity$7,680,075 $6,782,867 
Debt Securities, Held-to-maturity
The following tables summarize the amortized cost, fair value, and ACL on held-to-maturity securities by major type:
At March 31, 2024
(In thousands)
Amortized
Cost (1)
Unrealized
Gains		Unrealized
Losses		Fair ValueAllowanceNet Carrying Value
Agency CMO$22,489 $— $(1,938)$20,551 $— $22,489 
Agency MBS2,618,783 1,429 (327,351)2,292,861 — 2,618,783 
Agency CMBS4,028,799 11,580 (540,641)3,499,738 — 4,028,799 
Municipal bonds and notes910,422 683 (34,953)876,152 184 910,238 
CMBS99,582 — (6,017)93,565 — 99,582 
Total held-to-maturity$7,680,075 $13,692 $(910,900)$6,782,867 $184 $7,679,891 
At December 31, 2023
(In thousands)
Amortized
Cost (1)
Unrealized
Gains		Unrealized
Losses		Fair ValueAllowanceNet Carrying Value
Agency CMO$23,470 $— $(1,728)$21,742 $— $23,470 
Agency MBS2,409,521 1,141 (284,776)2,125,886 — 2,409,521 
Agency CMBS3,625,627 18,586 (514,534)3,129,679 — 3,625,627 
Municipal bonds and notes916,104 2,440 (24,877)893,667 209 915,895 
CMBS100,075 — (6,426)93,649 — 100,075 
Total held-to-maturity$7,074,797 $22,167 $(832,341)$6,264,623 $209 $7,074,588 
The following table summarizes the activity in the ACL on held-to-maturity securities:
Three months ended March 31,
(In thousands)20242023
Balance, beginning of period$209 $182 
(Benefit) provision for credit losses(25)100 
Balance, end of period$184 $282 
The following tables summarize the amortized cost of held-to-maturity securities based on their lowest publicly available credit rating:
March 31, 2024
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A3Not Rated
Agency CMO$— $22,489 $— $— $— $— $— 
Agency MBS— 2,618,783 — — — — — 
Agency CMBS— 4,028,799 — — — — — 
Municipal bonds and notes332,969 162,439 252,852 111,277 32,690 4,165 14,030 
CMBS99,582 — — — — — — 
Total held-to-maturity$432,551 $6,832,510 $252,852 $111,277 $32,690 $4,165 $14,030 
December 31, 2023
Investment Grade
(In thousands)AaaAa1Aa2Aa3A1A3Not Rated
Agency CMO$— $23,470 $— $— $— $— $— 
Agency MBS— 2,409,521 — — — — — 
Agency CMBS— 3,625,627 — — — — — 
Municipal bonds and notes333,479 162,615 253,671 115,404 32,732 4,165 14,038 
CMBS100,075 — — — — — — 
Total held-to-maturity$433,554 $6,221,233 $253,671 $115,404 $32,732 $4,165 $14,038 
The following table summarizes the carrying value of held-to-maturity securities pledged for deposits, borrowings, and other purposes:
(In thousands)At March 31, 2024At December 31, 2023
Pledged for deposits$1,557,987$1,212,824
Pledged for borrowings and other5,732,5695,582,379
Total held-to-maturity securities pledged$7,290,556$6,795,203