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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains, gross unrealized losses and approximate fair value of investment securities
The following table summarizes the amortized cost, gross unrealized gains and losses and approximate fair value of investment securities available for sale as of June 30, 2021 and December 31, 2020.

 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Available for sale at June 30, 2021    
U.S. Treasury$1,000 $— $— $1,000 
U.S. Government-sponsored agency securities11,502 39 — 11,541 
State and municipal1,365,211 87,152 518 1,451,845 
U.S. Government-sponsored mortgage-backed securities952,720 12,937 7,371 958,286 
Corporate obligations4,031 197 — 4,228 
Total available for sale$2,334,464 $100,325 $7,889 $2,426,900 

 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Available for sale at December 31, 2020    
U.S. Government-sponsored agency securities$2,380 $50 $— $2,430 
State and municipal1,168,711 89,420 246 1,257,885 
U.S. Government-sponsored mortgage-backed securities632,267 22,505 103 654,669 
Corporate obligations4,031 104 — 4,135 
Total available for sale$1,807,389 $112,079 $349 $1,919,119 
The following table summarizes the amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity as of June 30, 2021 and December 31, 2020.

Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Held to maturity at June 30, 2021    
U.S. Government-sponsored agency securities$60,677 $— $60,677 $1 $715 $59,963 
State and municipal863,426 245 863,181 31,276 977 893,725 
U.S. Government-sponsored mortgage-backed securities796,056 — 796,056 12,164 2,561 805,659 
Foreign investment1,500 — 1,500 — — 1,500 
Total held to maturity$1,721,659 $245 $1,721,414 $43,441 $4,253 $1,760,847 


Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Held to maturity at December 31, 2020    
U.S. Government-sponsored agency securities$31,087 $— $31,087 $10 $113 $30,984 
State and municipal619,927 — 619,927 34,978 32 654,873 
U.S. Government-sponsored mortgage-backed securities575,154 — 575,154 17,889 107 592,936 
Foreign investment1,500 — 1,500 — — 1,500 
Total held to maturity$1,227,668 $— $1,227,668 $52,877 $252 $1,280,293 
Schedule of amortized cost of investment securities held to maturity aggregated by credit quality indicator The following table summarizes the amortized cost of investment securities held to maturity at June 30, 2021, aggregated by credit quality indicator.
Held to Maturity
State and municipalOtherTotal
Credit Rating:
Aaa$54,753 $60,677 $115,430 
Aa1131,246 — 131,246 
Aa2136,008 — 136,008 
Aa396,915 — 96,915 
A166,549 — 66,549 
A218,962 — 18,962 
A31,065 — 1,065 
Baa2527 — 527 
Non-rated357,401 797,556 1,154,957 
Total$863,426 $858,233 $1,721,659 
Schedule of allowance for credit losses on investment securities held to maturity
The following table details activity in the allowance for credit losses on investment securities held to maturity during the six months ended June 30, 2021.
State and municipal
Allowance for Credit Losses:
Balance, December 31, 2020$— 
Impact of adopting ASC 326245 
Provision for credit loss— 
Securities charged off— 
Recoveries on securities— 
Balance, June 30, 2021$245 
Schedule of investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
The following tables summarize, as of June 30, 2021 and December 31, 2020, investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and length of time in a continuous unrealized loss position.

Less than 12 Months12 Months or LongerTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Investment securities available for sale at June 30, 2021
State and municipal$63,102 $518 $— $— $63,102 $518 
U.S. Government-sponsored mortgage-backed securities460,616 7,371 — — 460,616 7,371 
Total investment securities available for sale$523,718 $7,889 $— $— $523,718 $7,889 


 
Less than 12 Months12 Months or LongerTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Investment securities available for sale at December 31, 2020
State and municipal$5,368 $246 $— $— $5,368 $246 
U.S. Government-sponsored mortgage-backed securities9,651 103 — — 9,651 103 
Total investment securities available for sale$15,019 $349 $— $— $15,019 $349 
Schedule of investments in debt and equity securities reported in the financial statements at an amount less than their historical cost
Certain investment securities available for sale are reported in the financial statements at an amount less than their historical cost as indicated in the table below.
June 30, 2021December 31, 2020
Investments available for sale reported at less than historical cost:  
Historical cost$531,607 $15,368 
Fair value523,718 15,019 
Gross unrealized losses$7,889 $349 
Percent of the Corporation's investments available for sale21.6 %0.8 %
Schedule of amortized cost and fair value of available for sale securities and held to maturity securities
The amortized cost and fair value of investment securities available for sale and held to maturity at June 30, 2021 and December 31, 2020, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity are shown separately.

 Available for SaleHeld to Maturity
 Amortized CostFair ValueAmortized CostFair Value
Maturity Distribution at June 30, 2021    
Due in one year or less$1,060 $1,067 $8,405 $8,461 
Due after one through five years8,850 9,176 23,079 24,351 
Due after five through ten years90,059 95,333 147,663 152,770 
Due after ten years1,281,775 1,363,038 746,456 769,606 
 1,381,744 1,468,614 925,603 955,188 
U.S. Government-sponsored mortgage-backed securities952,720 958,286 796,056 805,659 
Total investment securities$2,334,464 $2,426,900 $1,721,659 $1,760,847 
 
 
Available for SaleHeld to Maturity
Amortized CostFair ValueAmortized CostFair Value
Maturity Distribution at December 31, 2020    
Due in one year or less$1,349 $1,353 $9,712 $9,755 
Due after one through five years5,545 5,764 22,241 23,190 
Due after five through ten years70,777 75,223 115,408 121,333 
Due after ten years1,097,451 1,182,110 505,153 533,079 
 1,175,122 1,264,450 652,514 687,357 
U.S. Government-sponsored mortgage-backed securities632,267 654,669 575,154 592,936 
Total investment securities$1,807,389 $1,919,119 $1,227,668 $1,280,293 
Schedule of gross gains on sales and redemptions of available for sale securities
Gross gains on the sales and redemptions of investment securities available for sale for the three and six months ended June 30, 2021 and 2020 are shown below.
Three Months Ended
June 30,		Six Months Ended
June 30,
2021202020212020
Sales and redemptions of investment securities available for sale:    
Gross gains$1,822 $3,068 $3,898 $7,680 
Gross losses61 — 338 — 
Net gains on sales and redemptions of investment securities available for sale$1,761 $3,068 $3,560 $7,680