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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2024
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, 2024
U.S. Government agencies$454,488 $— $454,488 $— $(95,882)$358,606 
Mortgage-backed securities 1,119,741 — 1,119,741 171 (128,910)991,002 
State and political subdivisions
1,857,600 (191)1,857,409 47 (428,369)1,429,087 
Other securities256,835 (3,023)253,812 — (26,983)226,829 
Total HTM$3,688,664 $(3,214)$3,685,450 $218 $(680,144)$3,005,524 
December 31, 2023
U.S. Government agencies$453,121 $— $453,121 $— $(89,203)$363,918 
Mortgage-backed securities 1,161,694 — 1,161,694 354 (107,834)1,054,214 
State and political subdivisions
1,858,680 (2,006)1,856,674 284 (369,509)1,487,449 
Other securities256,007 (1,208)254,799 — (25,010)229,789 
Total HTM$3,729,502 $(3,214)$3,726,288 $638 $(591,556)$3,135,370 
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, 2024
U.S. Treasury$1,294 $— $— $(19)$1,275 
U.S. Government agencies68,370 — 37 (1,844)66,563 
Mortgage-backed securities1,931,923 — — (201,081)1,730,842 
State and political subdivisions1,010,060 — 125 (145,995)864,190 
Other securities244,091 — 127 (21,184)223,034 
Total AFS$3,255,738 $— $289 $(370,123)$2,885,904 
December 31, 2023
U.S. Treasury$2,285 $— $— $(31)$2,254 
U.S. Government agencies74,460 — 35 (1,993)72,502 
Mortgage-backed securities2,138,652 — 8 (198,353)1,940,307 
State and political subdivisions1,035,147 — 187 (132,541)902,793 
Other securities259,165 — — (24,868)234,297 
Total AFS$3,509,709 $— $230 $(357,786)$3,152,153 
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, 2024, 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$1,275 $(19)$— $— $1,275 $(19)
U.S. Government agencies989 — 61,692 (1,844)62,681 (1,844)
Mortgage-backed securities2,222 (174)1,728,352 (200,907)1,730,574 (201,081)
State and political subdivisions18,617 (267)835,387 (145,728)854,004 (145,995)
Other securities— — 175,815 (21,184)175,815 (21,184)
Total AFS$23,103 $(460)$2,801,246 $(369,663)$2,824,349 $(370,123)
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, 2024 on the Company’s HTM securities portfolio.
(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended June 30, 2024
Held-to-maturity
Beginning balance, April 1, 2024$2,252 $962 $3,214 
Provision for credit loss expense— — — 
Net (decrease) increase in allowance on previously impaired securities(2,061)2,061 — 
Ending balance, June 30, 2024$191 $3,023 $3,214 
Six Months Ended June 30, 2024
Held-to-maturity
Beginning balance, January 1, 2024$2,006 $1,208 $3,214 
Provision for credit loss expense— — — 
Net (decrease) increase in allowance on previously impaired securities(1,815)1,815 — 
Ending balance, June 30, 2024$191 $3,023 $3,214 

Activity in the allowance for credit losses by investment security type for the three and six months ended June 30, 2023 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, 2023
Held-to-maturity
Beginning balance, April 1, 2023$362 $1,526 $1,888 
Provision for credit loss expense572 754 1,326 
Ending balance, June 30, 2023$934 $2,280 $3,214 
Available-for-sale
Beginning balance, April 1, 2023$— $5,800 $5,800 
Provision for credit loss expense— — — 
Reduction due to sales— (2,078)(2,078)
Net decrease in allowance on previously impaired securities— (1,326)(1,326)
Ending balance, June 30, 2023$— $2,396 $2,396 
(In thousands)State and Political SubdivisionsOther
Securities		Total
Six Months Ended June 30, 2023
Held-to-maturity
Beginning balance, January 1, 2023$110 $1,278 $1,388 
Provision for credit loss expense824 1,002 1,826 
Ending balance, June 30, 2023$934 $2,280 $3,214 
Available-for-sale
Beginning balance, January 1, 2023$— $— $— 
Provision for credit loss expense— 12,800 12,800 
Reduction due to sales— (2,078)(2,078)
Net decrease in allowance on previously impaired securities— (1,326)(1,326)
Securities charged-off— (7,000)(7,000)
Ending balance, June 30, 2023$— $2,396 $2,396 
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, 2024:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$179,308 $300,150 $— $479,458 $— 
Aa/AA633,415 525,280 — 1,158,695 — 
A37,035 161,547 — 198,582 102,815 
Baa/BBB— 4,381 — 4,381 154,020 
Not Rated16,484 — — 16,484 — 
Total$866,242 $991,358 $— $1,857,600 $256,835 
Income Earned on Securities
Income earned on securities for the three and six months ended June 30, 2024 and 2023, is as follows:

Three Months Ended
June 30,		Six Months Ended
June 30,
(In thousands)2024202320242023
Taxable:  
Held-to-maturity$10,842 $11,058 $21,845 $22,071 
Available-for-sale28,441 21,687 59,636 43,478 
Non-taxable:
Held-to-maturity10,097 10,225 20,197 20,351 
Available-for-sale5,670 5,781 11,373 11,625 
Total$55,050 $48,751 $113,051 $97,525 
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, 2024 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$3,028 $3,006 $7,736 $7,680 
After one through five years27,349 25,240 101,297 100,641 
After five through ten years390,411 340,536 214,545 191,523 
After ten years2,148,135 1,645,740 999,991 854,972 
Securities not due on a single maturity date1,119,741 991,002 1,931,923 1,730,842 
Other securities (no maturity)— — 246 246 
Total$3,688,664 $3,005,524 $3,255,738 $2,885,904