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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2024
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:
March 31, 2024
(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$1,349,679 $1 $(179,488)$— $1,170,192 
Obligations of states and political subdivisions262,777 132 (28,732)— 234,177 
Corporate bonds6,175 — (429)— 5,746 
Asset backed securities362,877 623 (3,827)— 359,673 
Non-agency collateralized mortgage obligations340,100 — (36,000)— 304,100 
Total debt securities available for sale$2,321,608 $756 $(248,476)$— $2,073,888 
Debt Securities Held to Maturity
Obligations of U.S. government agencies$125,131 $1 $(9,239)— 115,893 
Obligations of states and political subdivisions2,680 — (45)— 2,635 
Total debt securities held to maturity$127,811 $1 $(9,284)$— $118,528 
December 31, 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$1,386,772 $2 $(165,037)$— $1,221,737 
Obligations of states and political subdivisions262,879 268 (26,772)— 236,375 
Corporate bonds6,173 — (571)— 5,602 
Asset backed securities359,214 255 (4,188)— 355,281 
Non-agency collateralized mortgage obligations369,287 — (35,778)— 333,509 
Total debt securities available for sale$2,384,325 $525 $(232,346)$— $2,152,504 
Debt Securities Held to Maturity
Obligations of U.S. government agencies$130,823 $— $(8,331)$— $122,492 
Obligations of states and political subdivisions2,671 6 (43)— 2,634 
Total debt securities held to maturity$133,494 $6 $(8,374)$— $125,126 
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
As of March 31, 2024, 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$51,718 $51,226 $— $— 
Due after one year through five years49,150 46,062 5,396 5,206 
Due after five years through ten years371,852 358,110 92,951 86,475 
Due after ten years1,848,888 1,618,490 29,464 26,847 
Totals$2,321,608 $2,073,888 $127,811 $118,528 
Gross Unrealized Losses on Investment Securities
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:
March 31, 2024: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$442 $(3)$1,169,687 $(179,485)$1,170,129 $(179,488)
Obligations of states and political subdivisions6,760 (152)219,908 (28,580)226,668 (28,732)
Corporate bonds— — 5,746 (429)5,746 (429)
Asset backed securities94,861 (350)146,838 (3,477)241,699 (3,827)
Non-agency collateralized mortgage obligations43,223 (523)260,877 (35,477)304,100 (36,000)
Total debt securities available for sale$145,286 $(1,028)$1,803,056 $(247,448)$1,948,342 $(248,476)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$— $— $115,660 $(9,239)$115,660 $(9,239)
Obligations of states and political subdivisions1,618 (8)1,018 (37)2,636 (45)
Total debt securities held to maturity$1,618 $(8)$116,678 $(9,276)$118,296 $(9,284)
December 31, 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$224 $— $1,221,320 $(165,037)$1,221,544 $(165,037)
Obligations of states and political subdivisions6,229 (75)216,497 (26,697)222,726 (26,772)
Corporate bonds— — 5,602 (571)5,602 (571)
Asset backed securities15,928 (93)264,731 (4,095)280,659 (4,188)
Non-agency collateralized mortgage obligations44,276 (583)289,233 (35,195)333,509 (35,778)
Total debt securities available for sale$66,657 $(751)$1,997,383 $(231,595)$2,064,040 $(232,346)
Debt Securities Held to Maturity
Obligations of U.S. government agencies$— $— $122,259 $(8,331)$122,259 $(8,331)
Obligations of states and political subdivisions— — 1,012 (43)1,012 (43)
Total debt securities held to maturity$— $— $123,271 $(8,374)$123,271 $(8,374)
Amortized Cost of Debt Securities Held-to-Maturity The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator:
March 31, 2024December 31, 2023
(in thousands)
AAA/AA/ABBB/BB/BAAA/AA/ABBB/BB/B
Obligations of U.S. government agencies$125,131 $— $130,823 $— 
Obligations of states and political subdivisions2,680 — 2,671 — 
Total debt securities held to maturity$127,811 $— $133,494 $—