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Debt Securities (Tables)
 9 Months Ended
Sep. 30, 2024
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:
 September 30, 2024
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$484,314 17 (16,725)467,606 
U.S. government sponsored enterprises323,387 — (13,318)310,069 
State and local governments74,691 340 (2,661)72,370 
Corporate bonds14,838 — (296)14,542 
Residential mortgage-backed securities2,780,411 18 (256,225)2,524,204 
Commercial mortgage-backed securities1,107,531 664 (60,408)1,047,787 
Total available-for-sale$4,785,172 1,039 (349,633)4,436,578 
Held-to-maturity
U.S. government and federal agency857,858 — (43,408)814,450 
State and local governments1,630,264 1,874 (172,903)1,459,235 
Residential mortgage-backed securities860,576 — (53,712)806,864 
Total held-to-maturity3,348,698 1,874 (270,023)3,080,549 
Total debt securities$8,133,870 2,913 (619,656)7,517,127 
 December 31, 2023
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$485,005 11 (29,669)455,347 
U.S. government sponsored enterprises321,993 — (22,774)299,219 
State and local governments101,903 302 (3,273)98,932 
Corporate bonds27,007 2 (756)26,253 
Residential mortgage-backed securities3,166,589 7 (355,333)2,811,263 
Commercial mortgage-backed securities1,180,756 519 (86,570)1,094,705 
Total available-for-sale$5,283,253 841 (498,375)4,785,719 
Held-to-maturity
U.S. government and federal agency853,273 — (65,472)787,801 
State and local governments1,650,000 2,843 (181,192)1,471,651 
Residential mortgage-backed securities999,138 — (78,396)920,742 
Total held-to-maturity3,502,411 2,843 (325,060)3,180,194 
Total debt securities$8,785,664 3,684 (823,435)7,965,913 
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 September 30, 2024. Actual maturities may differ from expected or contractual maturities since some issuers have the right to prepay obligations with or without prepayment penalties.
 September 30, 2024
 Available-for-SaleHeld-to-Maturity
(Dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due within one year$56,222 55,073 9,139 9,133 
Due after one year through five years787,336 758,562 938,197 894,304 
Due after five years through ten years16,296 15,732 189,027 183,962 
Due after ten years37,376 35,220 1,351,759 1,186,286 
897,230 864,587 2,488,122 2,273,685 
Mortgage-backed securities 1
3,887,942 3,571,991 860,576 806,864 
Total$4,785,172 4,436,578 3,348,698 3,080,549 
______________________________
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 for the periods shown:
 Three Months endedNine Months ended
(Dollars in thousands)September 30,
2024		September 30,
2023		September 30,
2024		September 30,
2023
Available-for-sale
Proceeds from sales and calls of debt securities$77,099 410 250,818 31,695 
Gross realized gains 1
753 — 782 145 
Gross realized losses 1
(725)— (725)(176)
Held-to-maturity
Proceeds from calls of debt securities2,310 4,735 8,495 15,205 
Gross realized gains 1
— 1 — 10 
Gross realized losses 1
(2)(66)(27)(181)
______________________________
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 tables summarize 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.
 September 30, 2024
 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
51 $2,772 (32)461,815 (16,693)464,587 (16,725)
U.S. government sponsored enterprises
14 — — 310,068 (13,318)310,068 (13,318)
State and local governments47 — — 52,048 (2,661)52,048 (2,661)
Corporate bonds2 — — 13,731 (296)13,731 (296)
Residential mortgage-backed securities
378 25 (1)2,521,798 (256,224)2,521,823 (256,225)
Commercial mortgage-backed securities
140 18,248 (375)989,901 (60,033)1,008,149 (60,408)
Total available-for-sale
632 $21,045 (408)4,349,361 (349,225)4,370,406 (349,633)
 
 December 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
57 $3,702 (56)448,909 (29,613)452,611 (29,669)
U.S. government sponsored enterprises
14 — — 299,220 (22,774)299,220 (22,774)
State and local governments85 3,039 (2)64,645 (3,271)67,684 (3,273)
Corporate bonds4 — — 23,262 (756)23,262 (756)
Residential mortgage-backed securities
402 1,430 (44)2,809,482 (355,289)2,810,912 (355,333)
Commercial mortgage-backed securities
151 21,232 (268)1,034,183 (86,302)1,055,415 (86,570)
Total available-for-sale
713 $29,403 (370)4,679,701 (498,005)4,709,104 (498,375)
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)September 30,
2024		December 31,
2023
Municipal bonds held-to-maturity
S&P: AAA / Moody’s: Aaa
$419,314 427,918 
S&P: AA+, AA, AA- / Moody’s: Aa1, Aa2, Aa3
1,173,331 1,182,894 
S&P: A+, A, A- / Moody’s: A1, A2, A3
33,984 37,742 
Not rated by either entity
3,635 1,446 
Total municipal bonds held-to-maturity
$1,630,264 1,650,000