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Debt Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized cost, gross unrealized gains and losses and fair value of debt securities The following tables present the amortized cost, the gross unrealized gains and losses and the fair value of the Company’s debt securities:
 March 31, 2023
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$486,250 20 (36,042)450,228 
U.S. government sponsored enterprises320,614 — (27,982)292,632 
State and local governments105,171 696 (3,189)102,678 
Corporate bonds27,049 — (927)26,122 
Residential mortgage-backed securities3,572,207 7 (392,646)3,179,568 
Commercial mortgage-backed securities1,232,322 1,305 (86,542)1,147,085 
Total available-for-sale$5,743,613 2,028 (547,328)5,198,313 
Held-to-maturity
U.S. government and federal agency848,741 — (72,382)776,359 
State and local governments1,675,146 2,468 (208,847)1,468,767 
Residential mortgage-backed securities1,140,506 — (92,879)1,047,627 
Total held-to-maturity3,664,393 2,468 (374,108)3,292,753 
Total debt securities9,408,006 4,496 (921,436)8,491,066 
 December 31, 2022
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$487,320 23 (42,616)444,727 
U.S. government sponsored enterprises320,157 — (32,793)287,364 
State and local governments137,033 709 (4,749)132,993 
Corporate bonds27,101 — (992)26,109 
Residential mortgage-backed securities3,706,427 6 (439,092)3,267,341 
Commercial mortgage-backed securities1,252,065 347 (103,639)1,148,773 
Total available-for-sale$5,930,103 1,085 (623,881)5,307,307 
Held-to-maturity
U.S. government and federal agency846,046 — (83,796)762,250 
State and local governments1,682,640 1,045 (248,233)1,435,452 
Residential mortgage-backed securities1,186,366 — (109,276)1,077,090 
Total held-to-maturity3,715,052 1,045 (441,305)3,274,792 
Total debt securities$9,645,155 2,130 (1,065,186)8,582,099 
Amortized cost and fair value of securities by contractual maturity
The following table presents the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by contractual maturity at March 31, 2023. Actual maturities may differ from expected or contractual maturities since some issuers have the right to prepay obligations with or without prepayment penalties.
 March 31, 2023
 Available-for-SaleHeld-to-Maturity
(Dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due within one year$1,895 1,884 2,834 2,828 
Due after one year through five years852,614 788,517 778,384 717,869 
Due after five years through ten years40,945 39,565 307,011 286,156 
Due after ten years43,630 41,694 1,435,658 1,238,273 
939,084 871,660 2,523,887 2,245,126 
Mortgage-backed securities 1
4,804,529 4,326,653 1,140,506 1,047,627 
Total$5,743,613 5,198,313 3,664,393 3,292,753 
______________________________
1 Mortgage-backed securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds.
Proceeds from sales and calls of debt securities and the associated gains and losses
Proceeds from sales and calls of debt securities and the associated gains and losses that have been included in earnings are listed below:
 Three Months ended
(Dollars in thousands)March 31,
2023		March 31,
2022
Available-for-sale
Proceeds from sales and calls of debt securities$31,279 53,120 
Gross realized gains 1
145 693 
Gross realized losses 1
(176)(15)
Held-to-maturity
Proceeds from calls of debt securities4,635 12,975 
Gross realized gains 1
8 15 
Gross realized losses 1
(91)(247)
______________________________
1 The gain or loss on the sale or call of each debt security is determined by the specific identification method.
AFS debt securities in an unrealized loss position with no ACL recorded
The following table summarizes available-for-sale debt securities that were in an unrealized loss position for which an ACL has not been recorded, based on the length of time the individual securities have been in an unrealized loss position. The number of available-for-sale debt securities in an unrealized position is also disclosed.
 March 31, 2023
 Number
of
Securities		Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available-for-sale
U.S. government and federal agency
56 $3,616 (55)441,707 (35,987)445,323 (36,042)
U.S. government sponsored enterprises
14 — — 292,633 (27,982)292,633 (27,982)
State and local governments97 13,974 (225)61,829 (2,964)75,803 (3,189)
Corporate bonds5 11,864 (221)13,350 (706)25,214 (927)
Residential mortgage-backed securities
428 20,139 (528)3,159,113 (392,118)3,179,252 (392,646)
Commercial mortgage-backed securities
155 235,155 (6,526)853,535 (80,016)1,088,690 (86,542)
Total available-for-sale
755 $284,748 (7,555)4,822,167 (539,773)5,106,915 (547,328)
 
 December 31, 2022
 Number
of
Securities		Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available-for-sale
U.S. government and federal agency
56 $4,150 (64)435,375 (42,552)439,525 (42,616)
U.S. government sponsored enterprises
14 — — 287,364 (32,793)287,364 (32,793)
State and local governments121 71,512 (2,109)20,753 (2,640)92,265 (4,749)
Corporate bonds5 25,146 (992)— — 25,146 (992)
Residential mortgage-backed securities
441 301,548 (24,581)2,965,512 (414,511)3,267,060 (439,092)
Commercial mortgage-backed securities
157 673,102 (41,984)435,176 (61,655)1,108,278 (103,639)
Total available-for-sale
794 $1,075,458 (69,730)4,144,180 (554,151)5,219,638 (623,881)
Credit quality indictors for HTM debt securities The following table summarizes the amortized cost of held-to-maturity municipal bonds aggregated by NRSRO credit rating:
(Dollars in thousands)March 31,
2023		December 31,
2022
Municipal bonds held-to-maturity
S&P: AAA / Moody’s: Aaa
$427,447 430,542 
S&P: AA+, AA, AA- / Moody’s: Aa1, Aa2, Aa3
1,196,794 1,206,441 
S&P: A+, A, A- / Moody’s: A1, A2, A3
39,262 37,162 
Not rated by either entity
11,643 8,495 
Total municipal bonds held-to-maturity
$1,675,146 1,682,640