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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Approximate Fair Values of Investment Securities
The amortized cost and the approximate fair values of investment securities are summarized as follows:
September 30, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-Sale:
U.S. Treasury notes$373.5 $— $(36.7)$336.8 
State, county, and municipal securities317.8 — (57.3)260.5 
Obligations of U.S. government agencies216.3 — (17.3)199.0 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations4,852.2 0.2 (442.7)4,409.7 
Private mortgage-backed securities270.3 — (37.1)233.2 
Collateralized loan obligations1,145.5 — (40.4)1,105.1 
Corporate securities272.6 — (33.5)239.1 
Total$7,448.2 $0.2 $(665.0)$6,783.4 

September 30, 2022Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Held-to-Maturity:
U.S. Treasury notes$396.1 $— $396.1 $— $(10.6)$385.5 
State, county, and municipal securities184.0 (0.1)183.9 0.2 (33.2)150.9 
Obligations of U.S. government agencies350.8 — 350.8 — (51.2)299.6 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1)
2,476.6 — 2,476.6 — (320.0)2,156.6 
Corporate securities80.1 (1.8)78.3 — (7.4)70.9 
Total$3,487.6 $(1.9)$3,485.7 $0.2 $(422.4)$3,063.5 
(1) Amortized cost presented above include $20.8 million of unamortized losses and $15.2 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 and 2022 transfer of securities from available-for-sale to held-to-maturity.
December 31, 2021Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-Sale:
U.S. Treasury notes$697.6 $— $(12.9)$684.7 
State, county, and municipal securities434.7 2.1 (9.3)427.5 
Obligations of U.S. government agencies356.0 0.1 (9.2)346.9 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations2,027.3 14.1 (23.3)2,018.1 
Private mortgage-backed securities174.4 0.1 (1.1)173.4 
Collateralized loan obligation898.2 1.2 — 899.4 
Corporate securities
271.1 3.0 (3.6)270.5 
Total$4,859.3 $20.6 $(59.4)$4,820.5 

December 31, 2021Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Held-to-Maturity:
State, county, and municipal securities$67.6 $— $67.6 $2.0 $(0.4)$69.2 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations(1)
1,609.0 — 1,609.0 13.2 (35.3)1,586.9 
Corporate securities11.0 — 11.0 0.4 — 11.4 
Total$1,687.6 $— $1,687.6 $15.6 $(35.7)$1,667.5 
(1) Amortized cost presented above include $20.1 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 transfer of securities from available-for-sale to held-to-maturity.
Gross Unrealized Losses and Fair Values of Investment Securities
The following tables show the gross unrealized losses and fair values of investment securities, aggregated by investment category, and the length of time individual investment securities have been in an unrealized loss position as of September 30, 2022 and December 31, 2021.
 Less than 12 Months12 Months or MoreTotal
September 30, 2022Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-Sale:      
U.S. Treasury notes$168.2 $(5.1)$168.6 $(31.6)$336.8 $(36.7)
State, county, and municipal securities110.6 (14.4)136.4 (42.9)247.0 (57.3)
Obligations of U.S. government agencies152.4 (10.9)45.9 (6.4)198.3 (17.3)
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations3,697.1 (308.8)699.8 (133.9)4,396.9 (442.7)
Private mortgage-backed securities206.1 (32.3)27.0 (4.8)233.1 (37.1)
Collateralized loan obligations1,076.1 (39.8)29.0 (0.6)1,105.1 (40.4)
Corporate securities144.0 (10.4)95.0 (23.1)239.0 (33.5)
Total$5,554.5 $(421.7)$1,201.7 $(243.3)$6,756.2 $(665.0)
 Less than 12 Months12 Months or MoreTotal
December 31, 2021Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-Sale:      
U.S. Treasury notes$684.7 $(12.9)$— $— $684.7 $(12.9)
State, county, and municipal securities278.7 (9.1)5.0 (0.2)283.7 (9.3)
Obligations of U.S. government agencies297.0 (8.9)16.4 (0.3)313.4 (9.2)
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations1,262.8 (23.0)26.4 (0.3)1,289.2 (23.3)
Private mortgage-backed securities127.2 (1.1)— — 127.2 (1.1)
Corporate securities109.9 (3.3)20.9 (0.3)130.8 (3.6)
Total$2,760.3 $(58.3)$68.7 $(1.1)$2,829.0 $(59.4)
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses related to held-to-maturity securities classified as corporate and state, county, and municipal securities:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Beginning balance$1.6 $— $— $— 
Provision for credit loss expense0.3 — 1.9 — 
Ending balance of allowance for credit losses$1.9 $— $1.9 $— 
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table summarizes the credit quality indicators of held-to-maturity securities at amortized cost for the periods indicated:
September 30, 2022AAAAAABBBBBNot RatedTotal
U.S. Treasury notes$396.1 $— $— $— $— $— $396.1 
State, county, and municipal securities69.4 93.8 12.0 — — 8.8 184.0 
Obligations of U.S. government agencies350.8 — — — — — 350.8 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations
FNMA/FHLMC2,261.3 — — — — — 2,261.3 
GNMA215.3 — — — — — 215.3 
Corporate securities— — — 65.1 10.0 5.0 80.1 
Total$3,292.9 $93.8 $12.0 $65.1 $10.0 $13.8 $3,487.6 
December 31, 2021AAAAAABBBNot RatedTotal
State, county, and municipal securities$17.2 $31.6 $14.7 $— $4.1 $67.6 
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations
FNMA/FHLMC1,439.1 — — — — 1,439.1 
GNMA169.9 — — — — 169.9 
Corporate securities— — 4.0 7.0 — 11.0 
Total$1,626.2 $31.6 $18.7 $7.0 $4.1 $1,687.6 
Maturities of Investment Securities Maturities of mortgage-backed securities have been adjusted to reflect shorter maturities based upon estimated prepayments of principal. All other investment securities maturities are shown at contractual maturity dates.
 Available-for-SaleHeld-to-Maturity
September 30, 2022Amortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Within one year$57.1 $56.4 $5.1 $5.0 
After one year but within five years1,049.0 998.0 546.0 524.2 
After five years but within ten years1,918.3 1,710.2 797.1 695.2 
After ten years4,423.8 4,018.8 2,139.4 1,839.1 
Total$7,448.2 $6,783.4 $3,487.6 $3,063.5