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Fair Value of Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Summary Of The Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021:
Fair Value Measurements at Reporting Date Using
Balance as of September 30, 2022Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Description
(In thousands)
Assets
Securities available for sale
Government-sponsored residential mortgage-backed securities$4,209,089 $— $4,209,089 $— 
Government-sponsored commercial mortgage-backed securities1,397,227 — 1,397,227 — 
U.S. Agency bonds941,597 — 941,597 — 
U.S. Treasury securities92,460 92,460 — — 
State and municipal bonds and obligations202,664 — 202,664 — 
Other debt securities1,578 — 1,578 — 
Rabbi trust investments71,650 64,719 6,931 — 
Loans held for sale951951
Interest rate swap contracts
Cash flow hedges - interest rate positions— — 
Customer-related positions23,818 — 23,818 — 
Risk participation agreements55 — 55 — 
Foreign currency forward contracts
Matched customer book428 — 428 — 
Foreign currency loan54 — 54 — 
Mortgage derivatives112 — 112 — 
Total$6,941,688 $157,179 $6,784,509 $— 
Liabilities
Interest rate swap contracts
Cash flow hedges - interest rate positions$3,206 $— $3,206 $— 
Customer-related positions82,404 — 82,404 — 
Risk participation agreements134 134 
Foreign currency forward contracts
Matched customer book414 414 
Foreign currency loan132 132 
Mortgage derivatives98 — 98 — 
Total$86,388 $— $86,388 $— 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2021Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Securities available for sale
Government-sponsored residential mortgage-backed securities$5,524,708 $— $5,524,708 $— 
Government-sponsored commercial mortgage-backed securities1,408,868 — 1,408,868 — 
U.S. Agency bonds1,175,014 — 1,175,014 — 
U.S. Treasury securities88,605 88,605 — — 
State and municipal bonds and obligations280,329 — 280,329 — 
Small Business Administration pooled securities32,103 — 32,103 — 
Other debt securities1,597 — 1,597 — 
Rabbi trust investments104,372 96,190 8,182 — 
Loans held for sale1,2061,206
Interest rate swap contracts
Customer-related positions64,338 — 64,338 — 
Risk participation agreements315 — 315 — 
Foreign currency forward contracts
Matched customer book61 — 61 — 
Mortgage derivatives256 — 256 — 
Total$8,681,772 $184,795 $8,496,977 $— 
Liabilities
Interest rate swap contracts
Customer-related positions$17,880 $— $17,880 $— 
Risk participation agreements580 — 580 — 
Foreign currency forward contracts
Matched customer book46 — 46 — 
Foreign currency loan87 — 87 — 
Mortgage derivatives16 — 16 — 
Total$18,609 $— $18,609 $— 
Summary Of The Fair Value Of Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis The following tables summarize the fair value of assets and liabilities measured at fair value on a nonrecurring basis, as of September 30, 2022 and December 31, 2021.
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of September 30, 2022Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Individually assessed collateral-dependent loans whose fair value is based upon appraisals$13,194 $— $— $13,194 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2021Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Collateral-dependent impaired loans whose fair value is based upon appraisals
$12,068 $— $— 12,068 
Fair Value, by Balance Sheet Grouping
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of September 30, 2022Fair Value as of September 30, 2022Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Held to maturity securities:
Government-sponsored residential mortgage-backed securities$281,253 $250,281 $— $250,281 $— 
Government-sponsored commercial mortgage-backed securities200,710 181,196 — 181,196 — 
Loans, net of allowance for loan losses12,752,942 12,378,276 — — 12,378,276 
FHLB stock18,714 18,714 — 18,714 — 
Bank-owned life insurance159,838 159,838 — 159,838 — 
Liabilities
Deposits$18,733,381 $18,723,364 $— $18,723,364 $— 
FHLB advances384,215 382,779 — 382,779 — 
Escrow deposits of borrowers21,853 21,853 — 21,853 — 
Interest rate swap collateral funds16,650 16,650 — 16,650 — 
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of December 31, 2021Fair Value as of December 31, 2021Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Loans, net of allowance for loan losses$12,157,281 $12,282,323 $— $— $12,282,323 
FHLB stock10,904 10,904 — 10,904 — 
Bank-owned life insurance157,091 157,091 — 157,091 — 
Liabilities
Deposits$19,628,311 $19,626,376 $— $19,626,376 $— 
FHLB advances14,020 13,558 — 13,558 — 
Escrow deposits of borrowers20,258 20,258 — 20,258 —