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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Held-to-maturity
The amortized cost, fair value and allowance for credit losses of investment securities that are classified as HTM are as follows:
 
(In thousands)Amortized CostAllowance
for Credit Losses		Net Carrying AmountGross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
Held-to-Maturity   
September 30, 2020
Mortgage-backed securities
$24,297 $— $24,297 $701 $(1)$24,997 
State and political subdivisions
22,003 (73)21,930 1,155 (1)23,084 
Other securities1,175 (300)875 108 983 
Total HTM$47,475 $(373)$47,102 $1,964 $(2)$49,064 
December 31, 2019
Mortgage-backed securities
$10,796 $— $10,796 $71 $(59)$10,808 
State and political subdivisions
27,082 — 27,082 849 — 27,931 
Other securities3,049 — 3,049 67 — 3,116 
Total HTM$40,927 $— $40,927 $987 $(59)$41,855 
Debt Securities, Available-for-sale
The amortized cost, fair value and allowance for credit losses of investment securities that are classified as AFS are as follows:

(In thousands)Amortized
Cost		Allowance for Credit LossesGross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
Available-for-sale
September 30, 2020
U.S. Government agencies$472,078 $— $1,257 $(1,362)$471,973 
Mortgage-backed securities882,076 — 22,050 (439)903,687 
State and political subdivisions1,105,341 (1,148)32,001 (3,188)1,133,006 
Other securities97,313 (60)1,429 (60)98,622 
Total AFS$2,556,808 $(1,208)$56,737 $(5,049)$2,607,288 
December 31, 2019
U.S. Treasury$449,729 $— $112 $(112)$449,729 
U.S. Government agencies194,207 — 1,313 (1,271)194,249 
Mortgage-backed securities1,738,584 — 8,510 (4,149)1,742,945 
State and political subdivisions860,539 — 20,983 (998)880,524 
Other securities20,092 — 822 (18)20,896 
Total AFS$3,263,151 $— $31,740 $(6,548)$3,288,343 
Gross Unrealized Losses and Fair Value of Investments
The following table summarizes the Company’s AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of September 30, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

 Less Than 12 Months12 Months or MoreTotal
(In thousands)Estimated
Fair
Value		Gross
Unrealized
Losses		Estimated
Fair
Value		Gross
Unrealized
Losses		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale
U.S. Government agencies$213,014 $(440)$54,329 $(922)$267,343 $(1,362)
Mortgage-backed securities95,213 (433)4,038 (6)99,251 (439)
State and political subdivisions108,153 (2,039)386 (1)108,539 (2,040)
Total AFS$416,380 $(2,912)$58,753 $(929)$475,133 $(3,841)
Debt Securities, Allowance for Credit Loss
The following table details activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2020 on the Company’s HTM and AFS securities held.
(In thousands)State and Political SubdivisionsOther SecuritiesTotal
Three Months Ended September 30, 2020
Held-to-Maturity
Beginning balance, July 1, 2020$95 $212 $307 
Provision for credit loss expense
(22)88 66 
Ending balance, September 30, 2020$73 $300 $373 
Available-for-sale
Beginning balance, July 1, 2020$371 $238 $609 
Credit losses on securities not previously recorded
1,137 23 1,160 
Reduction due to sales(294)— (294)
Net decrease in allowance on previously impaired securities(66)(201)(267)
Ending balance, September 30, 2020$1,148 $60 $1,208 
Nine Months Ended September 30, 2020
Held-to-Maturity
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
58 311 369 
Provision for credit loss expense
15 (11)4 
Ending balance, September 30, 2020$73 $300 $373 
Available-for-sale
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
373 — 373 
Credit losses on securities not previously recorded
1,130 78 1,208 
Reduction due to sales(244)— (244)
Net decrease in allowance on previously impaired securities(111)(18)(129)
Ending balance, September 30, 2020$1,148 $60 $1,208 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table summarizes bond ratings for the Company’s HTM portfolio issued by state and political subdivisions and other securities as of September 30, 2020:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$865 $— $— $865 $— 
Aa/AA11,270 5,445 — 16,715 — 
A960 1,058 — 2,018 — 
Baa— 426 — 426 — 
Not Rated1,611 368 — 1,979 1,175 
Total$14,706 $7,297 $— $22,003 $1,175 
Income Earned on Securities
Income earned on securities for the three and nine months ended September 30, 2020 and 2019, is as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2020201920202019
Taxable:  
Held-to-maturity$256 $248 $715 $975 
Available-for-sale6,937 9,266 26,604 31,563 
Non-taxable:
Held-to-maturity65 83 205 1,334 
Available-for-sale7,652 4,870 19,802 12,542 
Total$14,910 $14,467 $47,326 $46,414 
Amortized Cost and Estimated Fair Value by Maturity of Securities
The amortized cost and estimated fair value by maturity of securities are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. 

 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
One year or less$4,205 $4,243 $15,432 $15,538 
After one through five years13,117 13,698 33,170 33,657 
After five through ten years5,856 6,126 192,972 195,045 
After ten years— — 1,432,064 1,458,119 
Securities not due on a single maturity date24,297 24,997 882,076 903,687 
Other securities (no maturity)— — 1,094 1,242 
Total$47,475 $49,064 $2,556,808 $2,607,288