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Securities (Tables)
 6 Months Ended
Jun. 30, 2022
Marketable Securities [Abstract]  
Trading Securities, [Table Text Block]
The fair value and net unrealized gain (loss) included in trading securities are as follows (in thousands):
 
 June 30, 2022December 31, 2021
 Fair ValueNet Unrealized Gain (Loss)Fair ValueNet Unrealized Gain (Loss)
U.S. government securities$8,357 $— $23,610 $40 
Residential agency mortgage-backed securities
2,807,950 (20,447)9,068,900 (9,338)
Municipal securities18,825 (11)25,783 34 
Other trading securities24,312 (9)18,520 (26)
Total trading securities$2,859,444 $(20,467)$9,136,813 $(9,290)
Investment Securities (Held-to-Maturity) [Table Text Block]
The amortized cost and fair values of investment securities are as follows (in thousands):
 June 30, 2022
 AmortizedCarryingFairGross Unrealized
 Cost
Value1
ValueGainLoss
Municipal securities$175,974 $175,974 $180,783 $5,819 $(1,010)
Mortgage-backed securities:
Residential agency2,709,094 2,445,845 2,410,926 272 (35,191)
Commercial agency17,260 15,455 15,279 — (176)
Other debt securities788 788 769 — (19)
Total investment securities2,903,116 2,638,062 2,607,757 6,091 (36,396)
Allowance for credit losses(717)(717)
Investment securities, net of allowance$2,902,399 $2,637,345 $2,607,757 $6,091 $(36,396)
1    Carrying value includes $265 million of net unrealized loss which remains in Accumulated other comprehensive income ("AOCI") in the Consolidated Balance Sheets related to certain securities transferred from the Available for Sale securities portfolio to the Investment securities portfolio as discussed in greater detail following.
 December 31, 2021
 AmortizedCarryingFairGross Unrealized
 CostValueValueGainLoss
Municipal securities$203,772 $203,772 $223,609 $19,851 $(14)
Mortgage-backed securities:
Residential agency6,939 6,939 7,500 561 — 
Other debt securities288 288 286 — (2)
Total investment securities210,999 210,999 231,395 20,412 (16)
Allowance for credit losses(555)(555)
Investment securities, net of allowance$210,444 $210,444 $231,395 $20,412 $(16)
During the three months ended June 30, 2022, the Company transferred certain U.S. government agency mortgage-backed securities from the available for sale portfolio to the investment securities portfolio (held-to-maturity) as the Company has the positive intent and ability to hold these securities to maturity. No gains or losses were recognized in the Consolidated Statements of Earnings at the time of the transfer. Transfers of debt securities into the investment securities portfolio (held-to-maturity) are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer is retained in accumulated other comprehensive income and in the carrying value of the investment securities portfolio. Such amounts are amortized over the estimated life of the security as an adjustment to yield, offsetting the related amortization of the premium or accretion of the discount on the transferred securities. At the time of transfer, the fair value totaled $2.4 billion, amortized cost totaled $2.7 billion and the pretax unrealized loss totaled $268 million.

The amortized cost and fair values of investment securities at June 30, 2022, by contractual maturity, are as shown in the following table (dollars in thousands):
Less than
One Year		One to
Five Years		Six to
Ten Years		Over
Ten Years		Total
Weighted
Average
Maturity1
Fixed maturity debt securities:     
Carrying value$14,890 $105,177 $67,111 $5,039 $192,217 4.49 
Fair value15,018 110,157 66,625 5,031 196,831  
Residential mortgage-backed securities:      
Carrying value    $2,445,845 2
Fair value    2,410,926  
Total investment securities:      
Carrying value    $2,638,062  
Fair value    2,607,757  
1Expected maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without penalty.
2The average expected lives of residential mortgage-backed securities were 5.4 years based upon current prepayment assumptions.

Temporarily Impaired Investment Securities
(in thousands):
June 30, 2022
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Investment:       
Municipal securities56 $27,968 $935 $527 $75 $28,495 $1,010 
Mortgage-backed securities:
Residential agency115 2,408,180 35,191 — — 2,408,180 35,191 
Commercial agency2 15,279 176 — — 15,279 176 
Other debt securities2 234 17 23 2 257 19 
Total investment securities175 $2,451,661 $36,319 $550 $77 $2,452,211 $36,396 

December 31, 2021
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Investment:       
Municipal securities1 $— $— $587 $14 $587 $14 
Other debt securities2 273 2 — — 273 2 
Total investment securities3 $273 $2 $587 $14 $860 $16 
Available For Sale Securities [Table Text Block]
The amortized cost and fair value of available for sale securities are as follows (in thousands):
 June 30, 2022
 AmortizedFairGross Unrealized
 CostValueGainLoss
U.S. Treasury$1,000 $927 $— $(73)
Municipal securities686,224 638,305 1,039 (48,958)
Mortgage-backed securities:    
Residential agency5,088,155 4,913,245 2,309 (177,219)
Residential non-agency530,947 519,613 11,784 (23,118)
Commercial agency4,368,649 4,080,101 61 (288,609)
Other debt securities500 472 — (28)
Total available for sale securities$10,675,475 $10,152,663 $15,193 $(538,005)
 December 31, 2021
 AmortizedFairGross Unrealized
 CostValueGainLoss
U.S. Treasury$1,001 $1,000 $— $(1)
Municipal securities515,551 508,365 1,302 (8,488)
Mortgage-backed securities:   
Residential agency7,908,587 8,006,616 155,477 (57,448)
Residential non-agency10,625 24,339 13,714 — 
Commercial agency4,628,172 4,617,025 36,868 (48,015)
Other debt securities500 472 — (28)
Total available for sale securities$13,064,436 $13,157,817 $207,361 $(113,980)

The amortized cost and fair values of available for sale securities at June 30, 2022, by contractual maturity, are as shown in the following table (dollars in thousands):
Less than
One Year		One to
Five Years		Six to
Ten Years		Over
Ten Years		Total
Weighted
Average
Maturity1
Fixed maturity debt securities:
Amortized cost$46,384 $1,994,203 $2,546,615 $469,171 $5,056,373 6.42 
Fair value46,421 1,911,712 2,317,565 444,287 4,719,805 
Residential mortgage-backed securities:
Amortized cost$5,619,102 2
Fair value5,432,858 
Total available for sale securities:
Amortized cost$10,675,475 
Fair value10,152,663 
1Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalty.
2The average expected lives of residential mortgage-backed securities were 4.2 years based upon current prepayment assumptions.
Sales of available for sale securities resulted in gains and losses as follows (in thousands):
 Three Months Ended
June 30,		Six Months Ended June 30,
 2022202120222021
Proceeds$156,116 $338,109 $211,301 $394,146 
Gross realized gains1,461 1,767 3,394 2,240 
Gross realized losses(273)(337)(1,269)(343)
Related federal and state income tax expense278 336 497 455 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]
June 30, 2022
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available for sale:       
U.S. Treasury1 $927 $73 $— $— $927 $73 
Municipal securities207 403,086 35,397 116,482 13,561 519,568 48,958 
Mortgage-backed securities:
    
Residential agency529 4,521,335 172,417 76,078 4,802 4,597,413 177,219 
Residential non-agency23 475,508 23,118 — — 475,508 23,118 
Commercial agency280 2,822,610 189,150 1,188,817 99,459 4,011,427 288,609 
Other debt securities1 — — 472 28 472 28 
Total available for sale securities1,041 $8,223,466 $420,155 $1,381,849 $117,850 $9,605,315 $538,005 

December 31, 2021
 Number of SecuritiesLess Than 12 Months12 Months or LongerTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
Available for sale:     
U.S. Treasury
1 $1,000 $1 $— $— $1,000 $1 
Municipal securities175 423,575 7,762 22,476 726 446,051 8,488 
Mortgage-backed securities:
     
Residential agency
120 2,382,094 37,121 750,044 20,327 3,132,138 57,448 
Commercial agency
165 2,104,689 35,488 703,216 12,527 2,807,905 48,015 
Other debt securities1 — — 472 28 472 28 
Total available for sale securities
462 $4,911,358 $80,372 $1,476,208 $33,608 $6,387,566 $113,980 
Fair Value Option Securities [Table Text Block]
The fair value and net unrealized gain (loss) included in fair value option securities is as follows (in thousands):
 June 30, 2022December 31, 2021
 Fair ValueNet Unrealized Gain (Loss)Fair ValueNet Unrealized Gain (Loss)
Residential agency mortgage-backed securities
$37,927 $(1,630)$43,770 $1,591