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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
Investment securities include investment securities available for sale, marketable equity securities, and investment securities held to maturity. The investment securities portfolio consisted of the following at the dates indicated (in thousands):
December 31, 2022
 Amortized CostGross Unrealized
Carrying Value (1)
 GainsLosses
Investment securities available for sale:
U.S. Treasury securities$148,956 $63 $(13,178)$135,841 
U.S. Government agency and sponsored enterprise residential MBS
2,036,693 1,334 (54,859)1,983,168 
U.S. Government agency and sponsored enterprise commercial MBS
600,517 — (75,423)525,094 
Private label residential MBS and CMOs
2,864,589 54 (333,980)2,530,663 
Private label commercial MBS
2,645,168 176 (120,990)2,524,354 
Single family real estate-backed securities502,194 — (31,753)470,441 
Collateralized loan obligations1,166,838 151 (30,526)1,136,463 
Non-mortgage asset-backed securities102,194 — (6,218)95,976 
State and municipal obligations122,181 695 (6,215)116,661 
SBA securities139,320 381 (3,919)135,782 
10,328,650 $2,854 $(677,061)9,654,443 
Investment securities held to maturity10,000 10,000 
$10,338,650 9,664,443 
Marketable equity securities 90,884 
$9,755,327 
December 31, 2021
 Amortized CostGross Unrealized
Carrying Value (1)
 GainsLosses
Investment securities available for sale:
U.S. Treasury securities$114,385 $173 $(2,898)$111,660 
U.S. Government agency and sponsored enterprise residential MBS
2,093,283 12,934 (8,421)2,097,796 
U.S. Government agency and sponsored enterprise commercial MBS
861,925 5,287 (10,313)856,899 
Private label residential MBS and CMOs
2,160,136 3,575 (14,291)2,149,420 
Private label commercial MBS
2,604,690 7,843 (8,523)2,604,010 
Single family real estate-backed securities474,845 5,031 (2,908)476,968 
Collateralized loan obligations1,079,217 598 (1,529)1,078,286 
Non-mortgage asset-backed securities151,091 1,419 — 152,510 
State and municipal obligations205,718 16,559 — 222,277 
SBA securities184,296 2,027 (2,728)183,595 
9,929,586 $55,446 $(51,611)9,933,421 
Investment securities held to maturity10,000 10,000 
$9,939,586 9,943,421 
Marketable equity securities 120,777 
$10,064,198 
(1)At fair value except for securities held to maturity.
Investments Classified by Contractual Maturity Date
At December 31, 2022, contractual maturities of investment securities available for sale, adjusted for anticipated prepayments when applicable, were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$1,511,041 $1,437,407 
Due after one year through five years5,927,706 5,634,990 
Due after five years through ten years1,838,180 1,655,098 
Due after ten years1,051,723 926,948 
 $10,328,650 $9,654,443 
Gain on Investment Securities, net
The following table provides information about gains and losses on investment securities for the periods indicated (in thousands):
Years Ended December 31,
 202220212020
Proceeds from sale of investment securities AFS$798,205 $2,286,600 $1,503,498 
Gross realized gains on investment securities AFS$4,058 $10,005 $14,441 
Gross realized losses on investment securities AFS(131)(995)(440)
Net realized gain3,927 9,010 14,001 
Net unrealized gains (losses) on marketable equity securities recognized in earnings(19,732)(2,564)3,766 
Gain (loss) on investment securities, net$(15,805)$6,446 $17,767 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables present the aggregate fair value and the aggregate amount by which amortized cost exceeded fair value for investment securities available for sale in unrealized loss positions aggregated by investment category and length of time that individual securities had been in continuous unrealized loss positions at the dates indicated (in thousands):
 December 31, 2022
 Less than 12 Months12 Months or GreaterTotal
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities
$29,198 $(495)$86,744 $(12,683)$115,942 $(13,178)
U.S. Government agency and sponsored enterprise residential MBS
1,243,286 (26,789)672,322 (28,070)1,915,608 (54,859)
U.S. Government agency and sponsored enterprise commercial MBS
236,102 (5,736)288,992 (69,687)525,094 (75,423)
Private label residential MBS and CMOs
1,103,578 (93,480)1,413,642 (240,500)2,517,220 (333,980)
Private label commercial MBS
1,191,969 (39,729)1,223,223 (81,261)2,415,192 (120,990)
Single family real estate-backed securities391,421 (22,293)79,020 (9,460)470,441 (31,753)
Collateralized loan obligations596,803 (14,020)494,945 (16,506)1,091,748 (30,526)
Non-mortgage asset-backed securities
95,976 (6,218)— — 95,976 (6,218)
State and municipal obligations67,444 (6,154)1,114 (61)68,558 (6,215)
SBA securities42,900 (553)74,291 (3,366)117,191 (3,919)
 $4,998,677 $(215,467)$4,334,293 $(461,594)$9,332,970 $(677,061)
 December 31, 2021
 Less than 12 Months12 Months or GreaterTotal
 Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury securities
$49,328 $(591)$47,102 $(2,307)$96,430 $(2,898)
U.S. Government agency and sponsored enterprise residential MBS
436,744 (4,549)401,022 (3,872)837,766 (8,421)
U.S. Government agency and sponsored enterprise commercial MBS
247,323 (4,084)163,380 (6,229)410,703 (10,313)
Private label residential MBS and CMOs
1,552,946 (13,933)23,355 (358)1,576,301 (14,291)
Private label commercial MBS
1,338,288 (6,085)171,490 (2,438)1,509,778 (8,523)
Single family real estate-backed securities154,552 (2,908)— — 154,552 (2,908)
Collateralized loan obligations318,555 (445)319,192 (1,084)637,747 (1,529)
SBA securities496 — 99,599 (2,728)100,095 (2,728)
 $4,098,232 $(32,595)$1,225,140 $(19,016)$5,323,372 $(51,611)