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Debt Securities (Tables)
 3 Months Ended
Mar. 31, 2025
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, 2025
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$483,984 9 (11,871)472,122 
U.S. government sponsored enterprises324,323 — (10,815)313,508 
State and local governments70,803 225 (3,111)67,917 
Corporate bonds14,797 — (145)14,652 
Residential mortgage-backed securities2,541,431 7 (263,017)2,278,421 
Commercial mortgage-backed securities1,087,314 133 (61,755)1,025,692 
Total available-for-sale$4,522,652 374 (350,714)4,172,312 
Held-to-maturity
U.S. government and federal agency860,978 — (44,125)816,853 
State and local governments1,613,709 810 (212,791)1,401,728 
Residential mortgage-backed securities786,888 5 (52,051)734,842 
Total held-to-maturity3,261,575 815 (308,967)2,953,423 
Total debt securities$7,784,227 1,189 (659,681)7,125,735 
 December 31, 2024
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available-for-sale
U.S. government and federal agency$484,082 5 (15,654)468,433 
U.S. government sponsored enterprises323,854 — (13,700)310,154 
State and local governments71,737 215 (3,272)68,680 
Corporate bonds14,818 — (315)14,503 
Residential mortgage-backed securities2,660,330 5 (304,819)2,355,516 
Commercial mortgage-backed securities1,101,489 2 (73,572)1,027,919 
Total available-for-sale$4,656,310 227 (411,332)4,245,205 
Held-to-maturity
U.S. government and federal agency859,432 — (54,496)804,936 
State and local governments1,619,850 810 (209,502)1,411,158 
Residential mortgage-backed securities815,565 — (63,089)752,476 
Total held-to-maturity3,294,847 810 (327,087)2,968,570 
Total debt securities$7,951,157 1,037 (738,419)7,213,775 
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, 2025. 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, 2025
 Available-for-SaleHeld-to-Maturity
(Dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due within one year$535,800 524,798 19,713 19,694 
Due after one year through five years306,245 294,573 952,582 907,008 
Due after five years through ten years21,096 19,840 217,784 208,141 
Due after ten years30,766 28,988 1,284,608 1,083,738 
893,907 868,199 2,474,687 2,218,581 
Mortgage-backed securities 1
3,628,745 3,304,113 786,888 734,842 
Total$4,522,652 4,172,312 3,261,575 2,953,423 
______________________________
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 in gain (loss) on sale of securities are listed below:
 Three Months ended
(Dollars in thousands)March 31,
2025		March 31,
2024
Available-for-sale
Proceeds from sales and calls of debt securities435 173,268 
Gross realized gains 1
— 29 
Gross realized losses 1
— — 
Held-to-maturity
Proceeds from calls of debt securities4,130 5,535 
Gross realized gains 1
— — 
Gross realized losses 1
— (13)
______________________________
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 loss position is also disclosed.

 March 31, 2025
 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
48 $3,320 (36)466,542 (11,835)469,862 (11,871)
U.S. government sponsored enterprises
14 — — 313,508 (10,815)313,508 (10,815)
State and local governments47 3,678 (74)48,283 (3,037)51,961 (3,111)
Corporate bonds2 — — 13,872 (145)13,872 (145)
Residential mortgage-backed securities
381 9,183 (66)2,262,963 (262,951)2,272,146 (263,017)
Commercial mortgage-backed securities
150 42,189 (882)958,166 (60,873)1,000,355 (61,755)
Total available-for-sale
642 $58,370 (1,058)4,063,334 (349,656)4,121,704 (350,714)
 
 December 31, 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
55 $3,756 (34)463,151 (15,620)466,907 (15,654)
U.S. government sponsored enterprises
14 — — 310,154 (13,700)310,154 (13,700)
State and local governments50 3,653 (35)49,748 (3,237)53,401 (3,272)
Corporate bonds2 — — 13,707 (315)13,707 (315)
Residential mortgage-backed securities
389 13,535 (240)2,341,700 (304,579)2,355,235 (304,819)
Commercial mortgage-backed securities
152 36,466 (1,042)986,809 (72,530)1,023,275 (73,572)
Total available-for-sale
662 $57,410 (1,351)4,165,269 (409,981)4,222,679 (411,332)
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,
2025		December 31,
2024
Municipal bonds held-to-maturity
S&P: AAA / Moody’s: Aaa
$409,972 414,147 
S&P: AA+, AA, AA- / Moody’s: Aa1, Aa2, Aa3
1,168,257 1,168,491 
S&P: A+, A, A- / Moody’s: A1, A2, A3
31,147 33,585 
Not rated by either entity
4,333 3,627 
Total municipal bonds held-to-maturity
$1,613,709 1,619,850