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Investment Securities (Tables)
 9 Months Ended
Sep. 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 September 30, 2021 and December 31, 2020.

 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Available for sale at September 30, 2021    
U.S. Treasury$1,000 $— $— $1,000 
U.S. Government-sponsored agency securities11,500 57 — 11,557 
State and municipal1,466,349 72,152 3,946 1,534,555 
U.S. Government-sponsored mortgage-backed securities825,097 10,255 12,215 823,137 
Corporate obligations4,031 298 — 4,329 
Total available for sale$2,307,977 $82,762 $16,161 $2,374,578 

 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 September 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 September 30, 2021    
U.S. Government-sponsored agency securities$90,678 $— $90,678 $86 $840 $89,924 
State and municipal996,247 245 996,002 24,330 9,618 1,010,959 
U.S. Government-sponsored mortgage-backed securities982,758 — 982,758 10,353 8,939 984,172 
Foreign investment1,500 — 1,500 — — 1,500 
Total held to maturity$2,071,183 $245 $2,070,938 $34,769 $19,397 $2,086,555 


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 September 30, 2021, aggregated by credit quality indicator.
Held to Maturity
State and municipalOtherTotal
Credit Rating:
Aaa$90,991 $60,678 $151,669 
Aa1146,992 — 146,992 
Aa2161,730 — 161,730 
Aa3124,369 — 124,369 
A188,277 — 88,277 
A223,103 — 23,103 
A31,066 — 1,066 
Baa2266 — 266 
Non-rated359,453 1,014,258 1,373,711 
Total$996,247 $1,074,936 $2,071,183 
Schedule of allowance for credit losses on investment securities held to maturity
The following table details activity in the allowance for credit losses on investment securities held to maturity during the nine months ended September 30, 2021.
State and municipal
Allowance for Credit Losses:
Balance, December 31, 2020$— 
Impact of adopting ASC 326245 
Provision for credit loss— 
Securities charged off— 
Recoveries on securities— 
Balance, September 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 September 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 September 30, 2021
State and municipal$273,742 $3,938 $501 $8 $274,243 $3,946 
U.S. Government-sponsored mortgage-backed securities525,836 12,215 — — 525,836 12,215 
Total investment securities available for sale$799,578 $16,153 $501 $8 $800,079 $16,161 


 
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.
September 30, 2021December 31, 2020
Investments available for sale reported at less than historical cost:  
Historical cost$816,240 $15,368 
Fair value800,079 15,019 
Gross unrealized losses$16,161 $349 
Percent of the Corporation's investments available for sale33.7 %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 September 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 September 30, 2021    
Due in one year or less$2,421 $2,428 $8,718 $8,766 
Due after one through five years13,087 14,068 28,789 30,589 
Due after five through ten years100,122 105,457 176,603 180,790 
Due after ten years1,367,250 1,429,488 874,315 882,238 
 1,482,880 1,551,441 1,088,425 1,102,383 
U.S. Government-sponsored mortgage-backed securities825,097 823,137 982,758 984,172 
Total investment securities$2,307,977 $2,374,578 $2,071,183 $2,086,555 
 
 
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 and losses on sales and redemptions of available for sale securities
Gross gains and losses on the sales and redemptions of investment securities available for sale for the three and nine months ended September 30, 2021 and 2020 are shown below.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
Sales and redemptions of investment securities available for sale:    
Gross gains$1,915 $1,836 $5,814 $9,516 
Gross losses159 19 498 19 
Net gains on sales and redemptions of investment securities available for sale$1,756 $1,817 $5,316 $9,497