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Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Securities, Available-for-Sale [Abstract]  
Schedule of available-for-sale securities and Held-to-maturity securities
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of debt securities:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
December 31, 2022(in thousands)
Available for sale
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$3,188,381 $382 $(429,053)$2,759,710 
Other asset-backed securities376,336 — (48,983)327,353 
State and municipal securities959,469 199 (125,595)834,073 
U.S. government agency and government-sponsored enterprise securities222,829 2 (14,062)208,769 
U.S. government securities183,049 — (15,153)167,896 
Non-agency collateralized mortgage obligations352,782 — (61,484)291,298 
Total available for sale$5,282,846 $583 $(694,330)$4,589,099 
Held to maturity
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$2,034,792 $— $(312,014)$1,722,778 
Total held to maturity$2,034,792 $— $(312,014)$1,722,778 
December 31, 2021
Available for sale
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$3,738,616 $45,077 $(38,092)$3,745,601 
Other asset-backed securities469,052 3,802 (9,791)463,063 
State and municipal securities983,704 18,525 (4,938)997,291 
U.S. government agency and government-sponsored enterprise securities252,755 3,095 (3,274)252,576 
U.S. government securities158,367 — (831)157,536 
Non-agency collateralized mortgage obligations295,547 340 (955)294,932 
Total available for sale$5,898,041 $70,839 $(57,881)$5,910,999 
Held to maturity
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$2,148,327 $50 $(25,771)$2,122,606 
Total held to maturity$2,148,327 $50 $(25,771)$2,122,606 
Schedule of gross realized gains and losses on sales and calls of securities available for sale
The following table provides the proceeds and both gross realized gains and losses on the sales and calls of debt securities available for sale as well as other securities gains and losses for the periods indicated:
Years Ended December 31,
202220212020
(in thousands)
Proceeds from sales and calls of debt securities available for sale$741 $89,219 $194,697 
Gross realized gains from sales of debt securities available for sale$— $751 $471 
Gross realized losses from sales of debt securities available for sale(9)(437)(186)
Other securities gains, net (1)— — 16,425 
Investment securities gains (losses), net$(9)$314 $16,710 
__________
(1) Other securities gains includes gain from sale of Visa Class B restricted stock and subsequent write up to fair value of remaining Visa Class B shares.
Unrealized gains and losses on equity securities
The following table provides the unrealized gains and losses on equity securities at the reporting date:
Years Ended December 31,
202220212020
(in thousands)
Gains recognized during the period on equity securities $— $— $16,425 
Less: Losses recognized during the period on equity securities sold during the period.— — (3,000)
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date (1).$— $— $13,425 
__________
(1) Visa Class B restricted stock owned by the Company was previously carried at a zero-cost basis due to existing transfer restrictions and uncertainty of covered litigation. The sale of shares by the Company of Visa Class B restricted shares during the year ended December 31, 2020 resulted in an observable market price. As a result, the Company adjusted the carrying value of its remaining shares of Visa Class B restricted shares upward to this observable market price.
Schedule of Contractual Maturities of Investment Securities Available for Sale
The scheduled contractual maturities of debt securities at December 31, 2022 are presented as follows:
December 31, 2022
Available for saleHeld to maturity
Amortized CostFair ValueAmortized CostFair Value
(in thousands)
Due within one year$85,094 $84,216 $— $— 
Due after one year through five years1,132,895 1,055,150 301,515 265,831 
Due after five years through ten years1,106,689 973,108 916,571 775,931 
Due after ten years2,958,168 2,476,625 816,706 681,016 
Total debt securities$5,282,846 $4,589,099 $2,034,792 $1,722,778 
Schedule of Securities pledged as collateral
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
December 31,
20222021
(in thousands)
To secure public funds$564,150 $596,779 
To secure borrowings— 98,796 
Other securities pledged266,752 267,213 
Total securities pledged as collateral$830,902 $962,788 
Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses
The following tables show the gross unrealized losses and fair value of the Company’s debt securities available for sale for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and 2021:
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
December 31, 2022(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$735,898 $(50,201)$2,005,957 $(378,852)$2,741,855 $(429,053)
Other asset-backed securities76,877 (7,579)250,475 (41,404)327,352 (48,983)
State and municipal securities309,675 (23,690)485,620 (101,905)795,295 (125,595)
U.S. government agency and government-sponsored enterprise securities68,656 (1,375)139,364 (12,687)208,020 (14,062)
U.S. government securities— — 167,896 (15,153)167,896 (15,153)
Non-agency collateralized mortgage obligations11,669 (2,736)279,629 (58,748)291,298 (61,484)
Total$1,202,775 $(85,581)$3,328,941 $(608,749)$4,531,716 $(694,330)
December 31, 2021
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations$2,292,062 $(30,777)$176,946 $(7,315)$2,469,008 $(38,092)
Other asset-backed securities195,708 (4,823)117,751 (4,968)313,459 (9,791)
State and municipal securities237,354 (3,862)40,343 (1,076)277,697 (4,938)
U.S. government agency and government-sponsored enterprise securities100,813 (1,988)48,714 (1,286)149,527 (3,274)
U.S. government securities157,536 (831)— — 157,536 (831)
Non-agency collateralized mortgage obligations212,259 (955)— — 212,259 (955)
Total$3,195,732 $(43,236)$383,754 $(14,645)$3,579,486 $(57,881)