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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Debt Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of available for sale debt securities at June 30, 2023 and December 31, 2022 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
 (in thousands)
June 30, 2023
U.S. Treasury securities$310,936 $— $(28,538)$282,398 
U.S. government agency securities26,799 19 (2,626)24,192 
Obligations of states and political subdivisions:
Obligations of states and state agencies9,425 — (776)8,649 
Municipal bonds193,920 — (31,526)162,394 
Total obligations of states and political subdivisions203,345 — (32,302)171,043 
Residential mortgage-backed securities681,513 20 (86,897)594,636 
Corporate and other debt securities192,087 — (27,410)164,677 
Total $1,414,680 $39 $(177,773)$1,236,946 
December 31, 2022
U.S. Treasury securities$308,137 $— $(28,639)$279,498 
U.S. government agency securities29,494 47 (2,577)26,964 
Obligations of states and political subdivisions:
Obligations of states and state agencies10,899 — (493)10,406 
Municipal bonds171,586 — (35,181)136,405 
Total obligations of states and political subdivisions182,485 — (35,674)146,811 
Residential mortgage-backed securities719,868 64 (90,114)629,818 
Corporate and other debt securities197,927 — (19,621)178,306 
Total$1,437,911 $111 $(176,625)$1,261,397 
Age of Unrealized Losses and Fair Value of Related Available for Sale Debt Securities
The age of unrealized losses and fair value of the related available for sale debt securities at June 30, 2023 and December 31, 2022 were as follows: 
 Less than 12 MonthsMore than 12 MonthsTotal
 Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
 (in thousands)
June 30, 2023
U.S. Treasury securities$— $— $282,398 $(28,538)$282,398 $(28,538)
U.S. government agency securities— — 22,818 (2,626)22,818 (2,626)
Obligations of states and political subdivisions:
Obligations of states and state agencies
1,223 (20)7,426 (756)8,649 (776)
Municipal bonds1,405 (20)137,180 (31,506)138,585 (31,526)
Total obligations of states and political subdivisions
2,628 (40)144,606 (32,262)147,234 (32,302)
Residential mortgage-backed securities30,949 (1,919)562,383 (84,978)593,332 (86,897)
Corporate and other debt securities44,404 (7,239)120,273 (20,171)164,677 (27,410)
Total$77,981 $(9,198)$1,132,478 $(168,575)$1,210,459 $(177,773)
December 31, 2022
U.S. Treasury securities$279,498 $(28,639)$— $— $279,498 $(28,639)
U.S. government agency securities22,831 (2,538)1,116 (39)23,947 (2,577)
Obligations of states and political subdivisions:
Obligations of states and state agencies
2,943 (54)7,462 (439)10,405 (493)
Municipal bonds112,029 (26,044)24,127 (9,137)136,156 (35,181)
Total obligations of states and political subdivisions
114,972 (26,098)31,589 (9,576)146,561 (35,674)
Residential mortgage-backed securities311,836 (27,152)314,834 (62,962)626,670 (90,114)
Corporate and other debt securities144,924 (12,581)33,382 (7,040)178,306 (19,621)
Total$874,061 $(97,008)$380,921 $(79,617)$1,254,982 $(176,625)
Contractual Maturities of Debt Securities Available for Sale The contractual maturities of available for sale debt securities at June 30, 2023 are set forth in the following table. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 June 30, 2023
 Amortized
Cost		Fair
Value
 (in thousands)
Due in one year$2,350 $2,322 
Due after one year through five years282,534 265,870 
Due after five years through ten years175,056 148,811 
Due after ten years273,227 225,307 
Residential mortgage-backed securities681,513 594,636 
Total $1,414,680 $1,236,946 
Debt Securities, Available-for-Sale, Allowance for Credit Loss
The following table details the activity in the allowance for credit losses for the six months ended June 30, 2023.
Six Months Ended June 30, 2023
(in thousands)
Beginning balance$— 
Provision for credit losses5,000 
Charge-offs(5,000)
Ending balance$— 
Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Debt Securities Held to Maturity
The amortized cost, gross unrealized gains and losses and fair value of debt securities held to maturity at June 30, 2023 and December 31, 2022 were as follows: 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueAllowance for Credit LossesNet Carrying Value
 (in thousands)
June 30, 2023
U.S. Treasury securities$66,579 $— $(904)$65,675 $— $66,579 
U.S. government agency securities261,197 — (46,158)215,039 — 261,197 
Obligations of states and political subdivisions:
Obligations of states and state agencies88,561 91 (5,112)83,540 409 88,152 
Municipal bonds376,554 27 (21,130)355,451 57 376,497 
Total obligations of states and political subdivisions465,115 118 (26,242)438,991 466 464,649 
Residential mortgage-backed securities2,861,227 906 (400,614)2,461,519 — 2,861,227 
Trust preferred securities37,052 1 (7,709)29,344 559 36,493 
Corporate and other debt securities75,668 — (7,288)68,380 326 75,342 
Total $3,766,838 $1,025 $(488,915)$3,278,948 $1,351 $3,765,487 
December 31, 2022
U.S. Treasury securities$66,911 $— $(1,022)$65,889 $— $66,911 
U.S. government agency securities260,392 — (47,680)212,712 — 260,392 
Obligations of states and political subdivisions:
Obligations of states and state agencies99,238 305 (3,869)95,674 252 98,986 
Municipal bonds381,060 76 (23,615)357,521 41 381,019 
Total obligations of states and political subdivisions480,298 381 (27,484)453,195 293 480,005 
Residential mortgage-backed securities2,909,106 1,723 (415,032)2,495,797 — 2,909,106 
Trust preferred securities37,043 1 (5,938)31,106 888 36,155 
Corporate and other debt securities75,234 — (4,463)70,771 465 74,769 
Total $3,828,984 $2,105 $(501,619)$3,329,470 $1,646 $3,827,338 
Age of Unrealized Losses and Fair Value of Related Debt Securities Held to Maturity
The age of unrealized losses and fair value of related debt securities held to maturity at June 30, 2023 and December 31, 2022 were as follows: 
 Less than 12 MonthsMore than 12 MonthsTotal
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
 (in thousands)
June 30, 2023
U.S. Treasury securities$30,998 $(598)$34,677 $(306)$65,675 $(904)
U.S. government agency securities— — 213,885 (46,158)213,885 (46,158)
Obligations of states and political subdivisions:
Obligations of states and state agencies
25,298 (623)44,869 (4,489)70,167 (5,112)
Municipal bonds84,224 (1,437)200,924 (19,693)285,148 (21,130)
Total obligations of states and political subdivisions
109,522 (2,060)245,793 (24,182)355,315 (26,242)
Residential mortgage-backed securities
182,290 (6,756)2,107,464 (393,858)2,289,754 (400,614)
Trust preferred securities— — 28,343 (7,709)28,343 (7,709)
Corporate and other debt securities18,056 (1,194)50,324 (6,094)68,380 (7,288)
Total$340,866 $(10,608)$2,680,486 $(478,307)$3,021,352 $(488,915)
December 31, 2022
U.S. Treasury securities$65,889 $(1,022)$— $— $65,889 $(1,022)
U.S. government agency securities209,863 (47,508)1,673 (172)211,536 (47,680)
Obligations of states and political subdivisions:
Obligations of states and state agencies62,443 (2,020)18,231 (1,849)80,674 (3,869)
Municipal bonds251,970 (20,457)15,534 (3,158)267,504 (23,615)
Total obligations of states and political subdivisions
314,413 (22,477)33,765 (5,007)348,178 (27,484)
Residential mortgage-backed securities
962,690 (109,532)1,413,590 (305,500)2,376,280 (415,032)
Trust preferred securities— — 30,105 (5,938)30,105 (5,938)
Corporate and other debt securities
57,245 (2,989)13,525 (1,474)70,770 (4,463)
Total$1,610,100 $(183,528)$1,492,658 $(318,091)$3,102,758 $(501,619)
Contractual Maturities of Debt Securities Held to Maturity
The contractual maturities of investments in debt securities held to maturity at June 30, 2023 are set forth in the table below. Maturities may differ from contractual maturities in residential mortgage-backed securities because the mortgages underlying the securities may be prepaid without any penalties. Therefore, residential mortgage-backed securities are not included in the maturity categories in the following summary.
 June 30, 2023
 Amortized
Cost		Fair
Value
 (in thousands)
Due in one year$68,033 $67,619 
Due after one year through five years126,908 123,033 
Due after five years through ten years95,472 87,948 
Due after ten years615,198 538,829 
Residential mortgage-backed securities2,861,227 2,461,519 
Total$3,766,838 $3,278,948 
Amortized Cost of Debt Securities Held to Maturity by External Credit Rating The following table summarizes the amortized cost of held to maturity debt securities by external credit rating at June 30, 2023 and December 31, 2022.
AAA/AA/A RatedBBB ratedNon-investment grade ratedNon-ratedTotal
 (in thousands)
June 30, 2023
U.S. Treasury securities$66,579 $— $— $— $66,579 
U.S. government agency securities261,197 — — — 261,197 
Obligations of states and political subdivisions:
Obligations of states and state agencies65,768 — 5,416 17,377 88,561 
Municipal bonds321,860 — — 54,694 376,554 
Total obligations of states and political subdivisions
387,628 — 5,416 72,071 465,115 
Residential mortgage-backed securities2,861,227 — — — 2,861,227 
Trust preferred securities— — — 37,052 37,052 
Corporate and other debt securities— 6,000 — 69,668 75,668 
Total $3,576,631 $6,000 $5,416 $178,791 $3,766,838 
December 31, 2022
U.S. Treasury securities$66,911 $— $— $— $66,911 
U.S. government agency securities260,392 — — — 260,392 
Obligations of states and political subdivisions:
Obligations of states and state agencies74,943 — 5,497 18,798 99,238 
Municipal bonds333,488 — — 47,572 381,060 
Total obligations of states and political subdivisions
408,431 — 5,497 66,370 480,298 
Residential mortgage-backed securities2,909,106 — — — 2,909,106 
Trust preferred securities— — — 37,043 37,043 
Corporate and other debt securities2,000 6,000 — 67,234 75,234 
Total$3,646,840 $6,000 $5,497 $170,647 $3,828,984 
Debt Securities, Held-to-Maturity, Allowance for Credit Loss
The following table details the activity in the allowance for credit losses for the three and six months ended June 30, 2023 and 2022: 
Three months ended June 30,Six months ended June 30,
2023202220232022
(in thousands)
Beginning balance$1,633 $1,222 $1,646 $1,165 
(Credit) provision for credit losses(282)286 (295)343 
Ending balance$1,351 $1,508 $1,351 $1,508