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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Values of Investments Securities The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables:
September 30, 2023
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesEstimated
Fair
Value
Debt Securities Available for Sale
Obligations of U.S. government agencies$1,443,038 $— $(235,866)$— $1,207,172 
Obligations of states and political subdivisions307,291 24 (48,646)— 258,669 
Corporate bonds6,170 — (665)— 5,505 
Asset backed securities375,068 391 (5,730)— 369,729 
Non-agency collateralized mortgage obligations378,056 — (44,794)— 333,262 
Total debt securities available for sale$2,509,623 $415 $(335,701)$— $2,174,337 
Debt Securities Held to Maturity
Obligations of U.S. government agencies$136,398 $— $(14,824)— 121,574 
Obligations of states and political subdivisions2,660 — (176)— 2,484 
Total debt securities held to maturity$139,058 $— $(15,000)$— $124,058 
December 31, 2022
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesEstimated
Fair
Value
Debt Securities Available for Sale
Obligations of U.S. government agencies$1,568,408 $3 $(195,642)$— $1,372,769 
Obligations of states and political subdivisions332,625 401 (39,821)— 293,205 
Corporate bonds6,164 — (413)— 5,751 
Asset backed securities454,943 17 (15,193)— 439,767 
Non-agency collateralized mortgage obligations380,847 — (39,901)— 340,946 
Total debt securities available for sale$2,742,987 $421 $(290,970)$— $2,452,438 
Debt Securities Held to Maturity
Obligations of U.S. government agencies$154,830 $2 $(11,013)$— $143,819 
Obligations of states and political subdivisions6,153 13 (47)— 6,119 
Total debt securities held to maturity$160,983 $15 $(11,060)$— $149,938 
Gross unrealized losses on debt 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, were as follows:
September 30, 2023:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies$413 $(14)$1,206,736 $(235,852)$1,207,149 $(235,866)
Obligations of states and political subdivisions46,600 (2,674)207,415 (45,972)254,015 (48,646)
Corporate bonds— — 5,505 (665)5,505 (665)
Asset backed securities— — 309,126 (5,730)309,126 (5,730)
Non-agency collateralized mortgage obligations44,591 (1,236)288,671 (43,558)333,262 (44,794)
Total debt securities available for sale$91,604 $(3,924)$2,017,453 $(331,777)$2,109,057 $(335,701)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$233 $(2)$121,340 $(14,822)$121,573 $(14,824)
Obligations of states and political subdivisions1,547 (59)938 (117)2,485 (176)
Total debt securities held to maturity$1,780 $(61)$122,278 $(14,939)$124,058 $(15,000)
December 31, 2022:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies$605,615 $(61,408)$766,612 $(134,234)$1,372,227 $(195,642)
Obligations of states and political subdivisions219,532 (26,904)43,282 (12,917)262,814 (39,821)
Corporate bonds5,751 (413)— — 5,751 (413)
Asset backed securities231,703 (4,955)205,329 (10,238)437,032 (15,193)
Non-agency collateralized mortgage obligations123,075 (3,421)203,620 (36,480)326,695 (39,901)
Total debt securities available for sale$1,185,676 (97,101)$1,218,843 $(193,869)$2,404,519 $(290,970)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$143,577 $(11,013)$— $— $143,577 $(11,013)
Obligations of states and political subdivisions4,530 (47)— — 4,530 (47)
Total debt securities held to maturity$148,107 $(11,060)$— $— $148,107 $(11,060)
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
As of September 30, 2023, the contractual final maturity for available for sale and held to maturity investment securities is as follows:
Debt SecuritiesAvailable for SaleHeld to Maturity
(in thousands)Amortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due in one year$86,722 $84,609 $— $— 
Due after one year through five years62,069 58,068 6,302 6,015 
Due after five years through ten years398,920 377,030 80,279 71,376 
Due after ten years1,961,912 1,654,630 52,477 46,667 
Totals$2,509,623 $2,174,337 $139,058 $124,058 
Amortized Cost of Debt Securities Held-to-Maturity Gross unrealized losses on debt 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, were as follows:
September 30, 2023:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies$413 $(14)$1,206,736 $(235,852)$1,207,149 $(235,866)
Obligations of states and political subdivisions46,600 (2,674)207,415 (45,972)254,015 (48,646)
Corporate bonds— — 5,505 (665)5,505 (665)
Asset backed securities— — 309,126 (5,730)309,126 (5,730)
Non-agency collateralized mortgage obligations44,591 (1,236)288,671 (43,558)333,262 (44,794)
Total debt securities available for sale$91,604 $(3,924)$2,017,453 $(331,777)$2,109,057 $(335,701)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$233 $(2)$121,340 $(14,822)$121,573 $(14,824)
Obligations of states and political subdivisions1,547 (59)938 (117)2,485 (176)
Total debt securities held to maturity$1,780 $(61)$122,278 $(14,939)$124,058 $(15,000)
December 31, 2022:Less than 12 months12 months or moreTotal
(in thousands)Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Debt Securities Available for Sale
Obligations of U.S. government agencies$605,615 $(61,408)$766,612 $(134,234)$1,372,227 $(195,642)
Obligations of states and political subdivisions219,532 (26,904)43,282 (12,917)262,814 (39,821)
Corporate bonds5,751 (413)— — 5,751 (413)
Asset backed securities231,703 (4,955)205,329 (10,238)437,032 (15,193)
Non-agency collateralized mortgage obligations123,075 (3,421)203,620 (36,480)326,695 (39,901)
Total debt securities available for sale$1,185,676 (97,101)$1,218,843 $(193,869)$2,404,519 $(290,970)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$143,577 $(11,013)$— $— $143,577 $(11,013)
Obligations of states and political subdivisions4,530 (47)— — 4,530 (47)
Total debt securities held to maturity$148,107 $(11,060)$— $— $148,107 $(11,060)
The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:
September 30, 2023December 31, 2022
(in thousands)
AAA/AA/ABBB/BB/BAAA/AA/ABBB/BB/B
Obligations of U.S. government agencies$136,398 $— $154,830 $— 
Obligations of states and political subdivisions2,660 — 6,153 — 
Total debt securities held to maturity$139,058 $— $160,983 $—