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Investment Securities Available for Sale (Tables)
 6 Months Ended
Jun. 30, 2021
Investments [Abstract]  
Summary of Available-for-Sale Investment Securities
The amortized cost, gross unrealized gains and losses, and estimated fair values of investment securities available for sale at June 30, 2021 and December 31, 2020 are summarized below.
June 30, 2021
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
U.S. Treasury securities$120,119 $355 $(2,243)$118,231 
U.S. Government agency securities54,161 1,954 — 56,115 
Mortgage-backed securities issued by U.S. Government agencies 981,107 2,084 (7,077)976,114 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 6,670,497 75,773 (37,855)6,708,415 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 1,103,547 9,644 (9,145)1,104,046 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises450,814 12,750 (3,022)460,542 
Corporate debt securities and other debt securities18,260 447 — 18,707 
Total investment securities available for sale$9,398,505 $103,007 $(59,342)$9,442,170 
December 31, 2020
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
U.S. Treasury securities$20,257 $— $— $20,257 
U.S. Government agency securities79,638 2,682 — 82,320 
Mortgage-backed securities issued by U.S. Government agencies 1,216,012 7,930 (5,925)1,218,017 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 4,865,858 134,188 — 5,000,046 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 1,245,644 15,309 (10,576)1,250,377 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises354,244 16,677 — 370,921 
Corporate debt securities and other debt securities20,211 457 (168)20,500 
Total investment securities available for sale$7,801,864 $177,243 $(16,669)$7,962,438 
Schedule of Gross Unrealized Losses on Investment Securities and Fair Value
Gross unrealized losses on investment 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 June 30, 2021 and December 31, 2020 are presented below.
June 30, 2021
Less than 12 Months12 Months or LongerTotal
(in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. Treasury securities$47,586 $(2,243)$— $— $47,586 $(2,243)
Mortgage-backed securities issued by U.S. Government agencies 421,704 (5,251)153,330 (1,826)575,034 (7,077)
Mortgage-backed securities issued by U.S. Government sponsored enterprises 3,156,297 (37,855)— — 3,156,297 (37,855)
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 524,044 (6,858)140,934 (2,287)664,978 (9,145)
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises166,011 (3,022)— — 166,011 (3,022)
Total$4,315,642 $(55,229)$294,264 $(4,113)$4,609,906 $(59,342)
December 31, 2020
Less than 12 Months12 Months or LongerTotal
(in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Mortgage-backed securities issued by U.S. Government agencies $566,896 $(5,925)$— $— $566,896 $(5,925)
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises 803,429 (10,576)— — 803,429 (10,576)
Corporate debt securities and other debt securities9,337 (168)— — 9,337 (168)
Total$1,379,662 $(16,669)$— $— $1,379,662 $(16,669)
Amortized Cost and Estimated Fair Value by Contractual Maturity of Investment Securities Available-for-Sale For purposes of the maturity table, MBSs and CMOs, which are not due at a single maturity date, have been classified based on the final contractual maturity date.
Distribution of Maturities at June 30, 2021
(in thousands)Within One
 Year		1 to 5
Years		5 to 10
 Years		More Than
 10 Years		Total
Amortized Cost
U.S. Treasury securities$20,260 $— $99,859 $— $120,119 
U.S. Government agency securities430 1,595 52,136 — 54,161 
Mortgage-backed securities issued by U.S. Government agencies — 1,081 151 979,875 981,107 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 105 — 61,715 6,608,677 6,670,497 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 185 1,103,362 1,103,547 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises— 109,272 244,651 96,891 450,814 
Corporate debt securities and other debt securities— 9,504 8,756 — 18,260 
Total amortized cost$20,795 $121,452 $467,453 $8,788,805 $9,398,505 
Fair Value
U.S. Treasury securities$20,260 $— $97,971 $— $118,231 
U.S. Government agency securities432 1,609 54,074 — 56,115 
Mortgage-backed securities issued by U.S. Government agencies — 1,124 158 974,832 976,114 
Mortgage-backed securities issued by U.S. Government sponsored enterprises 106 — 64,294 6,644,015 6,708,415 
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises — — 192 1,103,854 1,104,046 
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises— 113,193 246,286 101,063 460,542 
Corporate debt securities and other debt securities— 9,872 8,835 — 18,707 
Total fair value$20,798 $125,798 $471,810 $8,823,764 $9,442,170 
Schedule of Sales Activities of Available-for-Sale Securities
Proceeds from sales, gross gains, and gross losses on sales of securities available for sale for the three and six months ended June 30, 2021 and 2020 are presented below. The specific identification method is used to reclassify gains and losses out of other comprehensive income at the time of sale.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2021202020212020
Proceeds from sales of investment securities available for sale$— $2,269,682 $223,977 $2,682,861 
Gross realized gains on sales— 75,105 — 83,839 
Gross realized losses on sales— (5,696)(1,990)(5,695)
Investment securities gains (losses), net$— $69,409 $(1,990)$78,144