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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023
U.S. Government agencies$452,428 $— $452,428 $— $(117,530)$334,898 
Mortgage-backed securities 1,178,324 — 1,178,324 — (172,976)1,005,348 
State and political subdivisions
1,859,172 (1,520)1,857,652 26 (564,366)1,293,312 
Other securities255,582 (1,694)253,888 — (39,235)214,653 
Total HTM$3,745,506 $(3,214)$3,742,292 $26 $(894,107)$2,848,211 
December 31, 2022
U.S. Government agencies$448,012 $— $448,012 $— $(102,558)$345,454 
Mortgage-backed securities 1,190,781 — 1,190,781 227 (118,960)1,072,048 
State and political subdivisions
1,861,102 (110)1,860,992 56 (446,198)1,414,850 
Other securities261,199 (1,278)259,921 — (29,040)230,881 
Total HTM$3,761,094 $(1,388)$3,759,706 $283 $(696,756)$3,063,233 
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, 2023
U.S. Treasury$2,278 $— $— $(54)$2,224 
U.S. Government agencies179,638 — 45 (6,924)172,759 
Mortgage-backed securities2,444,803 — — (287,711)2,157,092 
State and political subdivisions999,373 — 111 (209,140)790,344 
Other securities264,818 (1,196)— (27,620)236,002 
Total AFS$3,890,910 $(1,196)$156 $(531,449)$3,358,421 
December 31, 2022
U.S. Treasury$2,257 $— $— $(60)$2,197 
U.S. Government agencies191,498 — 103 (7,322)184,279 
Mortgage-backed securities2,809,319 — 20 (266,437)2,542,902 
State and political subdivisions1,056,124 — 250 (185,300)871,074 
Other securities272,215 — — (19,813)252,402 
Total AFS$4,331,413 $— $373 $(478,932)$3,852,854 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
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, 2023, 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. Treasury$— $— $2,224 $(54)$2,224 $(54)
U.S. Government agencies9,161 (21)158,972 (6,903)168,133 (6,924)
Mortgage-backed securities9,924 (140)2,147,168 (287,571)2,157,092 (287,711)
State and political subdivisions11,170 (502)771,404 (208,638)782,574 (209,140)
Other securities15,169 (3,505)202,990 (22,919)218,159 (26,424)
Total AFS$45,424 $(4,168)$3,282,758 $(526,085)$3,328,182 $(530,253)
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, 2023 on the Company’s HTM and AFS securities portfolios.

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended September 30, 2023
Held-to-maturity
Beginning balance, July 1, 2023$934 $2,280 $3,214 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities586 (586)— 
Ending balance, September 30, 2023$1,520 $1,694 $3,214 
Available-for-sale
Beginning balance, July 1, 2023$— $2,396 $2,396 
Provision for credit loss expense— — — 
Net decrease in allowance on previously impaired securities— (1,200)(1,200)
Ending balance, September 30, 2023$— $1,196 $1,196 
Nine Months Ended September 30, 2023
Held-to-maturity
Beginning balance, January 1, 2023$110 $1,278 $1,388 
Provision for credit loss expense824 1,002 1,826 
Net increase (decrease) in allowance on previously impaired securities586 (586)— 
Ending balance, September 30, 2023$1,520 $1,694 $3,214 
Available-for-sale
Beginning balance, January 1, 2023$— $— $— 
Provision for credit loss expense— 12,800 12,800 
Reduction due to sales— (2,078)(2,078)
Net decrease in allowance on previously impaired securities— (2,526)(2,526)
Securities charged-off— (7,000)(7,000)
Ending balance, September 30, 2023$— $1,196 $1,196 
Activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2022 on the Company’s HTM securities portfolio was as follows:

(In thousands)State and Political SubdivisionsOther
Securities		Total
Three Months Ended September 30, 2022
Held-to-maturity
Beginning balance, July 1, 2022$103 $1,278 $1,381 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities3 (3)— 
Recoveries1 2 3 
Ending balance, September 30, 2022$107 $1,277 $1,384 
Nine Months Ended September 30, 2022
Held-to-maturity
Beginning balance, January 1, 2022$1,197 $82 $1,279 
Provision for credit loss expense— — — 
Net increase (decrease) in allowance on previously impaired securities(1,180)1,180 — 
Recoveries90 15 105 
Ending balance, September 30, 2022$107 $1,277 $1,384 
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, 2023:

State and Political Subdivisions
(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther Securities
Aaa/AAA$179,897 $299,873 $— $479,770 $— 
Aa/AA636,466 523,018 — 1,159,484 — 
A46,948 161,580 — 208,528 102,179 
Baa/BBB— 4,374 — 4,374 153,403 
Not Rated7,016 — — 7,016 — 
Total$870,327 $988,845 $— $1,859,172 $255,582 
Income Earned on Securities
Income earned on securities for the three and nine months ended September 30, 2023 and 2022, is as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2023202220232022
Taxable:  
Held-to-maturity$11,062 $10,679 $33,133 $23,169 
Available-for-sale23,672 14,169 67,150 41,622 
Non-taxable:
Held-to-maturity10,137 10,181 30,488 26,371 
Available-for-sale5,767 5,925 17,392 21,352 
Total$50,638 $40,954 $148,163 $112,514 
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, 2023 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$2,192 $2,128 $69,877 $68,611 
After one through five years9,261 8,731 159,285 154,113 
After five through ten years384,518 319,298 220,681 189,896 
After ten years2,171,211 1,512,706 996,002 788,447 
Securities not due on a single maturity date1,178,324 1,005,348 2,444,803 2,157,092 
Other securities (no maturity)— — 262 262 
Total$3,745,506 $2,848,211 $3,890,910 $3,358,421