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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022
U.S. Government agencies$446,789 $— $446,789 $— $(67,286)$379,503 
Mortgage-backed securities 1,244,713 — 1,244,713 3,951 (61,982)1,186,682 
State and political subdivisions
1,869,027 (103)1,868,924 240 (397,081)1,472,083 
Other securities260,534 (1,278)259,256 85 (18,647)240,694 
Total HTM$3,821,063 $(1,381)$3,819,682 $4,276 $(544,996)$3,278,962 
December 31, 2021
U.S. Government agencies$232,609 $— $232,609 $— $(7,914)$224,695 
Mortgage-backed securities 70,342 — 70,342 232 (1,425)69,149 
State and political subdivisions
1,210,248 (1,197)1,209,051 6,166 (8,462)1,206,755 
Other securities17,301 (82)17,219 — (440)16,779 
Total HTM$1,530,500 $(1,279)$1,529,221 $6,398 $(18,241)$1,517,378 
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, 2022
U.S. Treasury$1,447 $— $— $(6)$1,441 
U.S. Government agencies202,528 — 339 (4,534)198,333 
Mortgage-backed securities3,150,519 — 4 (186,589)2,963,934 
State and political subdivisions1,103,260 — 518 (188,523)915,255 
Other securities272,424 — 645 (10,385)262,684 
Total AFS$4,730,178 $— $1,506 $(390,037)$4,341,647 
December 31, 2021
U.S. Treasury$300 $— $— $— $300 
U.S. Government agencies374,754 — 495 (10,608)364,641 
Mortgage-backed securities4,485,548 — 6,307 (43,239)4,448,616 
State and political subdivisions1,791,097 — 30,556 (1,995)1,819,658 
Other securities479,162 — 6,647 (5,479)480,330 
Total AFS$7,130,861 $— $44,005 $(61,321)$7,113,545 
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, 2022 on the Company’s HTM securities portfolio.

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended June 30, 2022
Held-to-maturity
Beginning balance, April 1, 2022$1,285 $92 $1,377 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities(1,183)1,183 — 
Recoveries1 3 4 
Ending balance, June 30, 2022$103 $1,278 $1,381 
Six Months Ended June 30, 2022
Held-to-maturity
Beginning balance, January 1, 2022$1,197 $82 $1,279 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities(1,183)1,183 — 
Recoveries89 13 102 
Ending balance, June 30, 2022$103 $1,278 $1,381 
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 portfolio was as follows:

(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 $312 
Reduction due to sales— (11)(11)
Net decrease in allowance on previously impaired securities(217)(84)(301)
Ending balance, June 30, 2021$— $— $— 
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, 2022:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$194,105 $275,834 $— $469,939 $— 
Aa/AA667,088 505,305 — 1,172,393 — 
A47,636 157,423 — 205,059 172,341 
Baa/BBB— 5,935 — 5,935 53,364 
Not Rated8,829 6,872 — 15,701 34,829 
Total$917,658 $951,369 $— $1,869,027 $260,534 
Income Earned on Securities
Income earned on securities for the three and six months ended June 30, 2022 and 2021, is as follows:


Three Months Ended
June 30,		Six Months Ended
June 30,
(In thousands)2022202120222021
Taxable:  
Held-to-maturity$10,578 $837 $12,490 $1,350 
Available-for-sale11,217 13,757 27,453 23,364 
Non-taxable:
Held-to-maturity10,088 3,030 16,190 5,034 
Available-for-sale5,965 9,504 15,427 18,953 
Total$37,848 $27,128 $71,560 $48,701 
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, 2022 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$3,794 $3,813 $4,084 $4,077 
After one through five years7,513 7,556 171,681 167,509 
After five through ten years313,724 290,805 278,500 269,311 
After ten years2,251,319 1,790,105 1,124,785 936,207 
Securities not due on a single maturity date1,244,713 1,186,683 3,150,519 2,963,934 
Other securities (no maturity)— — 609 609 
Total$3,821,063 $3,278,962 $4,730,178 $4,341,647 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
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, 2022, 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. Treasury$1,441 $(6)$— $— $1,441 $(6)
U.S. Government agencies110,444 (3,226)50,341 (1,308)160,785 (4,534)
Mortgage-backed securities2,082,115 (125,904)880,256 (60,685)2,962,371 (186,589)
State and political subdivisions714,786 (117,930)150,324 (70,593)865,110 (188,523)
Other securities195,830 (8,320)14,237 (2,065)210,067 (10,385)
Total AFS$3,104,616 $(255,386)$1,095,158 $(134,651)$4,199,774 $(390,037)