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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The table below presents the carrying values of assets and liabilities measured at fair value on a recurring basis at December 31, 2020 and 2019. There were no transfers among levels during these years.
Fair Value Measurements Using
(In thousands)
Total Fair Value
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs
 (Level 3)
December 31, 2020
Assets:
Residential mortgage loans held for sale$39,396 $— $39,396 $— 
Available for sale debt securities:
U.S. government and federal agency obligations838,059 838,059 — — 
Government-sponsored enterprise obligations54,485 — 54,485 — 
State and municipal obligations2,045,099 — 2,037,131 7,968 
Agency mortgage-backed securities6,712,085 — 6,712,085 — 
Non-agency mortgage-backed securities361,074 — 361,074 — 
Asset-backed securities1,882,243 — 1,882,243 — 
Other debt securities556,219 — 556,219 — 
Trading debt securities35,321 — 35,321 — 
Equity securities2,966 2,966 — — 
Private equity investments94,368 — — 94,368 
Derivatives *89,889 — 86,447 3,442 
Assets held in trust for deferred compensation plan19,278 19,278 — — 
Total assets12,730,482 860,303 11,764,401 105,778 
Liabilities:
Derivatives *18,675 — 17,974 701
Liabilities held in trust for deferred compensation plan19,278 19,278 — — 
Total liabilities$37,953 $19,278 $17,974 $701 
December 31, 2019
Assets:
Residential mortgage loans held for sale$9,181 $— $9,181 $— 
Available for sale debt securities:
U.S. government and federal agency obligations851,776 851,776 — — 
Government-sponsored enterprise obligations139,277 — 139,277 — 
State and municipal obligations1,267,927 — 1,258,074 9,853 
Agency mortgage-backed securities3,937,964 — 3,937,964 — 
Non-agency mortgage-backed securities809,782 — 809,782 — 
Asset-backed securities1,233,489 — 1,233,489 — 
Other debt securities331,411 — 331,411 — 
Trading debt securities28,161 — 28,161 — 
Equity securities2,929 2,929 — — 
Private equity investments94,122 — — 94,122 
Derivatives *105,674 — 105,075 599 
Assets held in trust for deferred compensation plan16,518 16,518 — — 
Total assets8,828,211 871,223 7,852,414 104,574 
Liabilities:
Derivatives *10,219 — 9,989 230 
Liabilities held in trust for deferred compensation plan16,518 16,518 — — 
Total liabilities$26,737 $16,518 $9,989 $230 
*     The fair value of each class of derivative is shown in Note 19.
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

Fair Value Measurements Using Significant Unobservable Inputs
(Level 3)
(In thousands)
State and Municipal Obligations
Private Equity
Investments
DerivativesTotal
Year ended December 31, 2020:
Balance at January 1, 2020$9,853 $94,122 $369 $104,344 
Total gains or losses (realized/unrealized):
Included in earnings— (10,103)3,181 (6,922)
Included in other comprehensive income(2)— — (2)
Investment securities called
(2,000)— — (2,000)
Discount accretion
117 — — 117 
Purchases of private equity securities
— 10,684 — 10,684 
Sale / pay down of private equity securities
— (364)— (364)
Capitalized interest/dividends
— 29 — 29 
Purchase of risk participation agreement
— — — — 
Sale of risk participation agreement
— — (809)(809)
Balance at December 31, 2020$7,968 $94,368 $2,741 $105,077 
Total gains or losses for the year included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2020$— $(10,083)$3,611 $(6,472)
Total gains or losses for the year included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2020$44 $— $— $44 
Year ended December 31, 2019:
Balance at January 1, 2019$14,158 $85,659 $490 $100,307 
Total gains or losses (realized/unrealized):
Included in earnings— (727)(93)(820)
Included in other comprehensive income246 — — 246 
Investment securities called(4,635)— — (4,635)
Discount accretion84 — — 84 
Purchases of private equity securities— 15,706 — 15,706 
Sale / pay down of private equity securities— (6,548)— (6,548)
Capitalized interest/dividends— 32 — 32 
Purchase of risk participation agreement— — 439 439 
Sale of risk participation agreement— — (467)(467)
Balance at December 31, 2019$9,853 $94,122 $369 $104,344 
Total gains or losses for the year included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2019$— $(2,177)$457 $(1,720)
Summary Of Gains And Losses On Level 3 Assets And Liabilities
Gains and losses on the Level 3 assets and liabilities in the table above are reported in the following income categories:
(In thousands)
Loan Fees and SalesOther Non-Interest IncomeInvestment Securities Gains (Losses), Net
Total
Year ended December 31, 2020:
Total gains or losses included in earnings$2,768 $413 $(10,103)$(6,922)
Change in unrealized gains or losses relating to assets still held at December 31, 2020$3,226 $385 $(10,083)$(6,472)
Year ended December 31, 2019:
Total gains or losses included in earnings$(77)$(16)$(727)$(820)
Change in unrealized gains or losses relating to assets still held at December 31, 2019$458 $(1)$(2,177)$(1,720)
Summary Of Quantitative Information About Level 3 Fair Value Measurements
Level 3 Inputs
As shown above, the Company's significant Level 3 measurements which employ unobservable inputs that are readily quantifiable pertain to auction rate securities (ARS) held by the Bank, investments in portfolio concerns held by the Company's private equity subsidiary, and held for sale residential mortgage loan commitments. ARS are included in state and municipal securities and totaled $8.0 million at December 31, 2020, while private equity investments, included in other securities, totaled $94.4 million.

Information about these inputs is presented in the table and discussions below.
Quantitative Information about Level 3 Fair Value MeasurementsWeighted
Valuation TechniqueUnobservable InputRangeAverage*
Auction rate securitiesDiscounted cash flowEstimated market recovery period5 years5 years
Estimated market rate1.5%-1.7%1.5%
Private equity investmentsMarket comparable companiesEBITDA multiple4.0-6.05.4
Mortgage loan commitmentsDiscounted cash flowProbability of funding56.7%-98.8%85.7%
Embedded servicing value0.5%-1.0%0.9%
* Unobservable inputs were weighted by the relative fair value of the instruments.
Schedule Of Fair Value Disclosures Measured On Nonrecurring Basis [Table Text Block]
Instruments Measured at Fair Value on a Nonrecurring Basis
For assets measured at fair value on a nonrecurring basis during 2020 and 2019, and still held as of December 31, 2020 and 2019, the following table provides the adjustments to fair value recognized during the respective periods, the level of valuation assumptions used to determine each adjustment, and the carrying value of the related individual assets or portfolios at December 31, 2020 and 2019.
Fair Value Measurements Using
(In thousands)
Fair Value
Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs
 (Level 3)
Total Gains (Losses)
Balance at December 31, 2020
Collateral dependent loans
$12,961 $— $— $12,961 $(7,763)
Mortgage servicing rights
6,249 — — 6,249 (1,776)
Long-lived assets
811 — — 811 (9)
Balance at December 31, 2019
Collateral dependent loans
$422 $— $— $422 $(263)
Mortgage servicing rights
7,749 — — 7,749 (327)
Long-lived assets
1,098 — — 1,098 (362)
Information about Level Three Fair Value Measurements - Nonrecurring Basis
The Company's significant Level 3 measurements that are measured on a nonrecurring basis pertain to the Company's mortgage servicing rights retained on certain fixed rate personal real estate loan originations. Mortgage servicing rights are included in other assets on the consolidated balance sheet, and information about these inputs is presented in the table below.

Quantitative Information about Level 3 Fair Value MeasurementsWeighted
Valuation TechniqueUnobservable InputRangeAverage*
Mortgage servicing rightsDiscounted cash flowDiscount rate9.15 %-9.27 %9.23 %
Prepayment speeds (CPR)*13.25 %-14.85 %14.58 %
Loan servicing costs - annually per loan
    Performing loans$71 -$72 $72 
    Delinquent loans$200 -$750 
    Loans in foreclosure$1,000 
*Ranges and weighted averages based on interest rate tranches.