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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of 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   
March 31, 2025
U.S. Government agencies$456,545 $— $456,545 $— $(83,796)$372,749 
Mortgage-backed securities 1,048,170 — 1,048,170 313 (111,288)937,195 
State and political subdivisions
1,857,076 (171)1,856,905 44 (474,041)1,382,908 
Other securities256,979 (3,043)253,936 — (17,163)236,773 
Total HTM$3,618,770 $(3,214)$3,615,556 $357 $(686,288)$2,929,625 
December 31, 2024
U.S. Government agencies$455,869 $— $455,869 $— $(95,961)$359,908 
Mortgage-backed securities 1,070,032 — 1,070,032 212 (133,746)936,498 
State and political subdivisions
1,857,373 (196)1,857,177 20 (436,061)1,421,136 
Other securities256,576 (3,018)253,558 — (21,149)232,409 
Total HTM$3,639,850 $(3,214)$3,636,636 $232 $(686,917)$2,949,951 
Schedule of 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
March 31, 2025
U.S. Treasury$700 $— $— $(1)$699 
U.S. Government agencies53,173 — (858)52,318 
Mortgage-backed securities1,508,611 — 72 (127,770)1,380,913 
State and political subdivisions1,031,456 — 21 (198,579)832,898 
Other securities235,000 — 210 (10,189)225,021 
Total AFS$2,828,940 $— $306 $(337,397)$2,491,849 
December 31, 2024
U.S. Treasury$999 $— $— $(3)$996 
U.S. Government agencies55,589 — (1,047)54,547 
Mortgage-backed securities1,545,539 — (152,784)1,392,759 
State and political subdivisions1,015,619 — 132 (157,569)858,182 
Other securities235,028 — 166 (12,252)222,942 
Total AFS$2,852,774 $— $307 $(323,655)$2,529,426 
Schedule of 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 March 31, 2025 and December 31, 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
March 31, 2025
U.S. Treasury$— $— $699 $(1)$699 $(1)
U.S. Government agencies1,708 (21)49,184 (837)50,892 (858)
Mortgage-backed securities7,055 (15)1,364,722 (127,755)1,371,777 (127,770)
State and political subdivisions14,153 (192)806,319 (198,387)820,472 (198,579)
Other securities4,925 (75)163,462 (10,114)168,387 (10,189)
Total AFS$27,841 $(303)$2,384,386 $(337,094)$2,412,227 $(337,397)
December 31, 2024
U.S. Treasury$— $— $996 $(3)$996 $(3)
U.S. Government agencies717 (7)51,186 (1,040)51,903 (1,047)
Mortgage-backed securities7,480 (189)1,384,532 (152,595)1,392,012 (152,784)
State and political subdivisions16,843 (195)829,754 (157,374)846,597 (157,569)
Other securities12,912 (20)162,803 (12,232)175,715 (12,252)
Total AFS$37,952 $(411)$2,429,271 $(323,244)$2,467,223 $(323,655)
Schedule of Debt Securities, Allowance for Credit Loss
The following table details activity in the allowance for credit losses by investment security type for the three months ended March 31, 2025 on the Company’s HTM securities portfolio.

(In thousands)State and Political SubdivisionsOther
Securities
Total
Three Months Ended March 31, 2025
Held-to-maturity
Beginning balance, January 1, 2025$196 $3,018 $3,214 
Provision for credit loss expense— — — 
Net (decrease) increase in allowance on previously impaired securities(25)25 — 
Ending balance, March 31, 2025$171 $3,043 $3,214 

Activity in the allowance for credit losses by investment security type for the three months ended March 31, 2024 on the Company’s HTM securities portfolio was as follows:
(In thousands)State and Political SubdivisionsOther
Securities
Total
Three Months Ended March 31, 2024
Held-to-maturity
Beginning balance, January 1, 2024$2,006 $1,208 $3,214 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities246 (246)— 
Ending balance, March 31, 2024$2,252 $962 $3,214 
Schedule of 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 March 31, 2025:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$182,720 $300,211 $— $482,931 $— 
Aa/AA627,418 527,544 — 1,154,962 — 
A38,657 160,694 — 199,351 103,536 
Baa/BBB— 4,388 — 4,388 153,443 
Not Rated15,444 — — 15,444 — 
Total$864,239 $992,837 $— $1,857,076 $256,979 
Schedule of Income Earned on Securities
Income earned on securities for the three months ended March 31, 2025 and 2024, is as follows:

Three Months Ended
March 31,
(In thousands)20252024
Taxable:  
Held-to-maturity$10,399 $11,003 
Available-for-sale21,185 31,195 
Non-taxable:
Held-to-maturity10,051 10,100 
Available-for-sale5,622 5,703 
Total$47,257 $58,001 
Schedule of Amortized Cost and Estimated Fair Value by Maturity of Securities
The amortized cost and estimated fair value by maturity of securities as of March 31, 2025 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$1,940 $1,936 $4,510 $4,480 
After one through five years88,294 83,044 107,184 106,936 
After five through ten years381,912 337,841 193,731 182,383 
After ten years2,098,454 1,569,609 1,014,687 816,920 
Securities not due on a single maturity date1,048,170 937,195 1,508,611 1,380,913 
Other securities (no maturity)— — 217 217 
Total$3,618,770 $2,929,625 $2,828,940 $2,491,849