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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2021
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   
June 30, 2021
U.S. Government agencies$77,396 $— $77,396 $— $(2,054)$75,342 
Mortgage-backed securities 60,649 — 60,649 474 (729)60,394 
State and political subdivisions
794,178 (871)793,307 8,118 (2,523)798,902 
Other securities261 (261)— 958 — 958 
Total HTM$932,484 $(1,132)$931,352 $9,550 $(5,306)$935,596 
December 31, 2020
Mortgage-backed securities $22,354 $— $22,354 $683 $— $23,037 
State and political subdivisions
312,416 (2,307)310,109 8,148 (30)318,227 
Other securities1,176 (608)568 93 — 661 
Total HTM$335,946 $(2,915)$333,031 $8,924 $(30)$341,925 
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 Losses		Gross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
Available-for-sale
June 30, 2021
U.S. Treasury$600 $— $— $— $600 
U.S. Government agencies567,722 — 720 (13,505)554,937 
Mortgage-backed securities3,996,823 — 13,405 (23,019)3,987,209 
State and political subdivisions1,526,833 — 36,945 (6,281)1,557,497 
Other securities451,044 — 8,291 (2,997)456,338 
Total AFS$6,543,022 $— $59,361 $(45,802)$6,556,581 
(In thousands)Amortized
Cost		Allowance
for Credit Losses		Gross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
December 31, 2020
U.S. Government agencies$477,693 $— $844 $(1,300)$477,237 
Mortgage-backed securities1,374,769 — 21,261 (1,094)1,394,936 
State and political subdivisions1,416,136 (217)55,111 (307)1,470,723 
Other securities128,445 (95)2,447 (95)130,702 
Total AFS$3,397,043 $(312)$79,663 $(2,796)$3,473,598 
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 June 30, 2021, 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$429,402 $(13,091)$35,862 $(414)$465,264 $(13,505)
Mortgage-backed securities2,196,453 (23,016)290 (3)2,196,743 (23,019)
State and political subdivisions377,432 (6,196)2,485 (85)379,917 (6,281)
Other securities142,041 (2,997)— — 142,041 (2,997)
Total AFS$3,145,328 $(45,300)$38,637 $(502)$3,183,965 $(45,802)
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 six months ended June 30, 2021 on the Company’s HTM and AFS securities portfolios.

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended June 30, 2021
Held-to-maturity
Beginning balance, April 1, 2021$1,042 $576 $1,618 
Provision for credit loss expense(171)(315)(486)
Ending balance, June 30, 2021$871 $261 $1,132 
Available-for-sale
Beginning balance, April 1, 2021$64 $2,390 $2,454 
Net decrease in allowance on previously impaired securities(64)(2,390)(2,454)
Ending balance, June 30, 2021$— $— $— 
Six Months Ended June 30, 2021
Held-to-maturity
Beginning balance, January 1, 2021$2,307 $608 $2,915 
Provision for credit loss expense(1,436)253 (1,183)
Securities charged-off— (600)(600)
Ending balance, June 30, 2021$871 $261 $1,132 
Available-for-sale
Beginning balance, January 1, 2021$217 $95 $312 
Reduction due to sales— (11)(11)
Net decrease in allowance on previously impaired securities(217)(84)(301)
Ending balance, June 30, 2021$— $— $— 

Activity in the allowance for credit losses by investment security type for the three and six months ended June 30, 2020 on the Company’s HTM and AFS securities portfolio was as follows:

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended June 30, 2020
Held-to-maturity
Beginning balance, April 1, 2020$97 $312 $409 
Provision for credit loss expense(2)(100)(102)
Ending balance, June 30, 2020$95 $212 $307 
Available-for-sale
Beginning balance, April 1, 2020$95 $174 $269 
Credit losses on securities not previously recorded370 160 530 
Net decrease in allowance on previously impaired securities(94)(96)(190)
Ending balance, June 30, 2020$371 $238 $609 
(In thousands)State and Political SubdivisionsOther
Securities		Total
Six Months Ended June 30, 2020
Held-to-maturity
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
58 311 369 
Provision for credit loss expense37 (99)(62)
Ending balance, June 30, 2020$95 $212 $307 
Available-for-sale
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
373 — 373 
Credit losses on securities not previously recorded77 192 269 
Reduction due to sales(142)— (142)
Net increase in allowance on previously impaired securities63 46 109 
Ending balance, June 30, 2020$371 $238 $609 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table summarizes bond ratings for the Company’s HTM portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of June 30, 2021:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$63,864 $57,797 $— $121,661 $— 
Aa/AA308,600 130,664 — 439,264 — 
A31,365 9,970 — 41,335 — 
Not Rated185,598 6,320 — 191,918 261 
Total$589,427 $204,751 $— $794,178 $261 
Income Earned on Securities
Income earned on securities for the three and six months ended June 30, 2021 and 2020, is as follows:


Three Months Ended
June 30,		Six Months Ended
June 30,
(In thousands)2021202020212020
Taxable:  
Held-to-maturity$837 $288 $1,350 $459 
Available-for-sale13,757 7,086 23,364 19,667 
Non-taxable:
Held-to-maturity3,030 68 5,034 140 
Available-for-sale9,504 6,031 18,953 12,150 
Total$27,128 $13,473 $48,701 $32,416 
Amortized Cost and Estimated Fair Value by Maturity of Securities
The amortized cost and estimated fair value by maturity of securities as of June 30, 2021 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$6,819 $6,884 $11,777 $11,834 
After one through five years7,680 8,029 51,854 52,281 
After five through ten years9,734 10,115 531,599 537,748 
After ten years847,602 850,174 1,949,938 1,966,476 
Securities not due on a single maturity date60,649 60,394 3,996,823 3,987,209 
Other securities (no maturity)— — 1,031 1,033 
Total$932,484 $935,596 $6,543,022 $6,556,581