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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Gross Realized and Unrealized Gains (Losses) on Marketable Equity Securities The gross realized and unrealized gains (losses) recognized on marketable equity securities in other operating income in the Company's Consolidated Statements of Income were as follows:
Three Months Ended March 31,
(In Thousands)20232022
Unrealized gain (loss) on marketable equity securities($223)($422)
Gain on sale of marketable equity securities, net— — 
   Total($223)($422)
Summary of Available-For-Sale Securities The following table summarizes the amortized cost, estimated fair value, and the Allowance for Credit Losses ("ACL") of debt securities and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities at the periods indicated:
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
March 31, 2023    
Securities available for sale    
U.S. Treasury and government sponsored entities$634,456 $178 ($32,260)$— $602,374 
Municipal securities820 — (18)— 802 
Corporate bonds16,018 10 (613)— 15,415 
Collateralized loan obligations60,407 — (1,264)— 59,143 
Total securities available for sale$711,701 $188 ($34,155)$— $677,734 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
December 31, 2022    
Securities available for sale    
U.S. Treasury and government sponsored entities$634,582 $1 ($39,422)$— $595,161 
Municipal securities820 — (25)— 795 
Corporate bonds24,281 37 (674)— 23,644 
Collateralized loan obligations59,434 — (2,005)— 57,429 
Total securities available for sale$719,117 $38 ($42,126)$— $677,029 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2022
Securities held to maturity
Corporate bonds$36,750 $— ($4,111)$32,639 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$36,750 $— ($4,111)$32,639 
Summary of Held-To-Maturity Securities
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
March 31, 2023
Securities held to maturity
Corporate bonds$36,750 $— ($4,219)$32,531 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$36,750 $— ($4,219)$32,531 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
December 31, 2022    
Securities available for sale    
U.S. Treasury and government sponsored entities$634,582 $1 ($39,422)$— $595,161 
Municipal securities820 — (25)— 795 
Corporate bonds24,281 37 (674)— 23,644 
Collateralized loan obligations59,434 — (2,005)— 57,429 
Total securities available for sale$719,117 $38 ($42,126)$— $677,029 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2022
Securities held to maturity
Corporate bonds$36,750 $— ($4,111)$32,639 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$36,750 $— ($4,111)$32,639 
Gross Unrealized Losses on Available For Sale Securities and the Fair Value
Gross unrealized losses on available for sale securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2023 and December 31, 2022 were as follows:

Less Than 12 MonthsMore Than 12 MonthsTotal
(In Thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
March 31, 2023
Securities available for sale
     U.S. Treasury and government sponsored entities$212,079 ($3,947)$375,028 ($28,313)$587,107 ($32,260)
     Corporate bonds4,936 (62)4,471 (551)9,407 (613)
     Collateralized loan obligations5,987 (13)53,156 (1,251)59,143 (1,264)
     Municipal securities— — 802 (18)802 (18)
          Total$223,002 ($4,022)$433,457 ($30,133)$656,459 ($34,155)
December 31, 2022:
Securities available for sale
     U.S. Treasury and government sponsored entities$282,319 ($8,876)$302,840 ($30,546)$585,159 ($39,422)
     Corporate bonds13,216 (43)4,394 (631)17,610 (674)
     Collateralized loan obligations22,309 (632)35,120 (1,373)57,429 (2,005)
     Municipal securities795 (25)— — 795 (25)
          Total$318,639 ($9,576)$342,354 ($32,550)$660,993 ($42,126)
Schedule of Amortized Cost and Fair Value by Contractual Maturity The amortized cost and estimated fair values of debt securities at March 31, 2023, are distributed by contractual maturity as shown below.  Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. 
(In Thousands)Amortized CostFair Value
US Treasury and government sponsored entities  
Within 1 year$105,712 $103,821 
1-5 years528,744 498,553 
Total$634,456 $602,374 
Corporate bonds  
Within 1 year$2,000 $1,951 
1-5 years24,018 22,570 
5-10 years26,750 23,425 
Total$52,768 $47,946 
Collateralized loan obligations
5-10 years$24,914 $24,561 
Over 10 years35,493 34,582 
Total$60,407 $59,143 
Municipal securities  
Within 1 year$820 $802 
Total$820 $802 
Summary of Interest Income On Available-for-Sale Investment Securities
A summary of interest income for the three-month periods ending March 31, 2023 and 2022, on available for sale investment securities are as follows:
Three Months Ended March 31,
(In Thousands)20232022
US Treasury and government sponsored entities$2,795 $806 
Other1,135 325 
Total taxable interest income$3,930 $1,131 
Municipal securities$4 $4 
Total tax-exempt interest income$4 $4 
Total$3,934 $1,135