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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Held-to-maturity
The amortized cost, fair value and allowance for credit losses of investment securities that are classified as HTM are as follows: 

(In thousands)Amortized CostAllowance
for Credit Losses		Net Carrying AmountGross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
Held-to-maturity   
September 30, 2021
U.S. Government agencies$232,549 $— $232,549 $— $(5,179)$227,370 
Mortgage-backed securities 57,930 — 57,930 417 (1,024)57,323 
State and political subdivisions
1,210,287 (1,196)1,209,091 2,206 (24,962)1,186,335 
Other securities17,310 (83)17,227 — (339)16,888 
Total HTM$1,518,076 $(1,279)$1,516,797 $2,623 $(31,504)$1,487,916 
December 31, 2020
Mortgage-backed securities $22,354 $— $22,354 $683 $— $23,037 
State and political subdivisions
312,416 (2,307)310,109 8,148 (30)318,227 
Other securities1,176 (608)568 93 — 661 
Total HTM$335,946 $(2,915)$333,031 $8,924 $(30)$341,925 
Debt Securities, Available-for-sale
The amortized cost, fair value and allowance for credit losses of investment securities that are classified as AFS are as follows:

(In thousands)Amortized
Cost		Allowance
for Credit Losses		Gross Unrealized
Gains		Gross Unrealized
(Losses)		Estimated Fair
Value
Available-for-sale
September 30, 2021
U.S. Treasury$300 $— $— $— $300 
U.S. Government agencies361,452 — 635 (7,705)354,382 
Mortgage-backed securities4,434,981 — 14,741 (28,102)4,421,620 
State and political subdivisions1,574,674 — 17,877 (17,343)1,575,208 
Other securities467,336 — 7,328 (3,971)470,693 
Total AFS$6,838,743 $— $40,581 $(57,121)$6,822,203 
December 31, 2020
U.S. Government agencies$477,693 $— $844 $(1,300)$477,237 
Mortgage-backed securities1,374,769 — 21,261 (1,094)1,394,936 
State and political subdivisions1,416,136 (217)55,111 (307)1,470,723 
Other securities128,445 (95)2,447 (95)130,702 
Total AFS$3,397,043 $(312)$79,663 $(2,796)$3,473,598 
Gross Unrealized Losses and Fair Value of Investments
The following table summarizes the Company’s AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of September 30, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

 Less Than 12 Months12 Months or MoreTotal
(In thousands)Estimated
Fair
Value		Gross
Unrealized
Losses		Estimated
Fair
Value		Gross
Unrealized
Losses		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale
U.S. Government agencies$190,275 $(3,759)$111,662 $(3,946)$301,937 $(7,705)
Mortgage-backed securities2,342,244 (27,380)46,253 (722)2,388,497 (28,102)
State and political subdivisions969,120 (16,056)23,372 (1,287)992,492 (17,343)
Other securities157,974 (3,971)— — 157,974 (3,971)
Total AFS$3,659,613 $(51,166)$181,287 $(5,955)$3,840,900 $(57,121)
Debt Securities, Allowance for Credit Loss
The following table details activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2021 on the Company’s HTM and AFS securities portfolios.

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended September 30, 2021
Held-to-maturity
Beginning balance, July 1, 2021$871 $261 $1,132 
Provision for credit loss expense325 (325)— 
Recoveries— 147 147 
Ending balance, September 30, 2021$1,196 $83 $1,279 
Available-for-sale
Beginning balance, July 1, 2021$— $— $— 
Net decrease in allowance on previously impaired securities— — — 
Ending balance, September 30, 2021$— $— $— 
Nine Months Ended September 30, 2021
Held-to-maturity
Beginning balance, January 1, 2021$2,307 $608 $2,915 
Provision for credit loss expense(1,111)(72)(1,183)
Securities charged-off— (600)(600)
Recoveries— 147 147 
Ending balance, September 30, 2021$1,196 $83 $1,279 
Available-for-sale
Beginning balance, January 1, 2021$217 $95 $312 
Reduction due to sales— (11)(11)
Net decrease in allowance on previously impaired securities(217)(84)(301)
Ending balance, September 30, 2021$— $— $— 
Activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2020 on the Company’s HTM and AFS securities portfolio was as follows:

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended September 30, 2020
Held-to-maturity
Beginning balance, July 1, 2020$95 $212 $307 
Provision for credit loss expense(22)88 66 
Ending balance, September 30, 2020$73 $300 $373 
Available-for-sale
Beginning balance, July 1, 2020$371 $238 $609 
Credit losses on securities not previously recorded1,137 23 1,160 
Reduction due to sales$(294)$— $(294)
Net decrease in allowance on previously impaired securities(66)(201)(267)
Ending balance, September 30, 2020$1,148 $60 $1,208 
Nine Months Ended September 30, 2020
Held-to-maturity
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
58 311 369 
Provision for credit loss expense15 (11)4 
Ending balance, September 30, 2020$73 $300 $373 
Available-for-sale
Beginning balance, January 1, 2020$— $— $— 
Impact of ASU 2016-13 adoption
373 — 373 
Credit losses on securities not previously recorded1,130 78 1,208 
Reduction due to sales(244)— (244)
Net increase in allowance on previously impaired securities(111)(18)(129)
Ending balance, September 30, 2020$1,148 $60 $1,208 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table summarizes bond ratings for the Company’s HTM portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of September 30, 2021:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$130,326 $114,831 $— $245,157 $— 
Aa/AA495,498 308,656 — 804,154 — 
A45,229 82,432 — 127,661 — 
Baa/BBB1,049 10,302 — 11,351 — 
Not Rated6,322 15,642 — 21,964 17,310 
Total$678,424 $531,863 $— $1,210,287 $17,310 
Income Earned on Securities
Income earned on securities for the three and nine months ended September 30, 2021 and 2020, is as follows:


Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2021202020212020
Taxable:  
Held-to-maturity$1,127 $256 $2,477 $715 
Available-for-sale15,949 6,937 39,313 26,604 
Non-taxable:
Held-to-maturity4,853 65 9,887 205 
Available-for-sale8,788 7,652 27,741 19,802 
Total$30,717 $14,910 $79,418 $47,326 
Amortized Cost and Estimated Fair Value by Maturity of Securities
The amortized cost and estimated fair value by maturity of securities as of September 30, 2021 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. 

 Held-to-MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
One year or less$5,644 $5,678 $8,385 $8,423 
After one through five years7,676 7,993 53,515 54,008 
After five through ten years27,094 26,019 487,966 492,654 
After ten years1,419,732 1,390,903 1,853,165 1,844,768 
Securities not due on a single maturity date57,930 57,323 4,434,981 4,421,620 
Other securities (no maturity)— — 731 730 
Total$1,518,076 $1,487,916 $6,838,743 $6,822,203