XML 47 R34.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule 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 March 31, 2024 and December 31, 2023:
Fair Value Measurements at Reporting Date Using
Balance as of March 31, 2024Quoted 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$2,683,627 $— $2,683,627 $— 
Government-sponsored commercial mortgage-backed securities1,106,783 — 1,106,783 — 
U.S. Agency bonds215,238 — 215,238 — 
U.S. Treasury securities95,085 95,085 — — 
State and municipal bonds and obligations186,852 — 186,852 — 
Rabbi trust investments91,772 83,697 8,075 — 
Loans held for sale2,204—2,204—
Interest rate swap contracts
Cash flow hedges - interest rate positions11 — 11 — 
Customer-related positions20,924 — 20,924 — 
Risk participation agreements6 — 6 — 
Foreign currency forward contracts
Matched customer book1,340 — 1,340 — 
Foreign currency loan35 — 35 — 
Mortgage derivatives21 — 21 — 
Total$4,403,898 $178,782 $4,225,116 $— 
Liabilities
Interest rate swap contracts
Cash flow hedges - interest rate positions$1,595 $— $1,595 $— 
Customer-related positions71,181 — 71,181 — 
Risk participation agreements3 —3 —
Foreign currency forward contracts
Matched customer book1,202 —1,202 —
Mortgage derivatives36 — 36 — 
Total$74,017 $— $74,017 $— 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2023Quoted 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$2,780,638 $— $2,780,638 $— 
Government-sponsored commercial mortgage-backed securities1,124,376 — 1,124,376 — 
U.S. Agency bonds216,011 — 216,011 — 
U.S. Treasury securities95,152 95,152 — — 
State and municipal bonds and obligations191,344 — 191,344 — 
Rabbi trust investments87,435 81,278 6,157 — 
Loans held for sale1,124—1,124—
Interest rate swap contracts
Cash flow hedges - interest rate positions10 — 10 — 
Customer-related positions19,535 — 19,535 — 
Risk participation agreements151 — 151 — 
Foreign currency forward contracts
Matched customer book760 — 760 — 
Mortgage derivatives69 — 69 — 
Total$4,516,605 $176,430 $4,340,175 $— 
Liabilities
Interest rate swap contracts
Cash flow hedges - interest rate positions$893 $— $893 $— 
Customer-related positions61,217 — 61,217 — 
Risk participation agreements106 — 106 — 
Foreign currency forward contracts
Matched customer book672 — 672 — 
Foreign currency loan187 — 187 — 
Mortgage derivatives36 — 36 — 
Total$63,111 $— $63,111 $— 
Schedule 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 March 31, 2024 and December 31, 2023.
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of March 31, 2024Quoted 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$35,696 $— $— $35,696 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2023Quoted 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$27,874 $— $— $27,874 
Schedule of Fair Value, by Balance Sheet Grouping
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated:
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of March 31, 2024Fair Value as of March 31, 2024Quoted 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$249,688 $221,157 $— $221,157 $— 
Government-sponsored commercial mortgage-backed securities194,145 172,033 — 172,033 — 
Loans, net of allowance for loan losses13,906,610 13,246,058 — — 13,246,058 
FHLB stock5,879 5,879 — 5,879 — 
Bank-owned life insurance165,734 165,734 — 165,734 — 
Liabilities
Deposits$17,666,733 $17,661,830 $— $17,661,830 $— 
FHLB advances17,576 15,102 — 15,102 — 
Escrow deposits of borrowers24,368 24,368 — 24,368 — 
Interest rate swap collateral funds10,810 10,810 — 10,810 — 
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of December 31, 2023Fair Value as of December 31, 2023Quoted 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$254,752 $230,319 $— $230,319 $— 
Government-sponsored commercial mortgage-backed securities194,969 174,503 — 174,503 — 
Loans, net of allowance for loan losses13,799,367 13,145,455 — — 13,145,455 
FHLB stock5,904 5,904 — 5,904 — 
Bank-owned life insurance164,702 164,702 — 164,702 — 
Liabilities
Deposits$17,596,217 $17,593,214 $— $17,593,214 $— 
FHLB advances17,738 15,366 — 15,366 — 
Escrow deposits of borrowers21,978 21,978 — 21,978 — 
Interest rate swap collateral funds8,500 8,500 — 8,500 —