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Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities | The following tables present the amortized cost, unrealized gains, unrealized losses, and approximate fair values of debt securities as of the dates presented:
| March 31, 2024
(in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Available for sale: |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 1,552,240 |  |  | $ | 1,132 |  |  | $ | (85,979) |  |  | $ | 1,467,393 |
Obligations of states and political subdivisions | 1,068,290 |  |  | 8,788 |  |  | (25,149) |  |  | 1,051,929 |
Mortgage-backed securities and collateralized mortgage obligations | 6,551,596 |  |  | 2,386 |  |  | (456,759) |  |  | 6,097,223 |
Total available for sale securities | $ | 9,172,126 |  |  | $ | 12,306 |  |  | $ | (567,887) |  |  | $ | 8,616,545 |
Held to maturity: |  |  |  |  |  |  |
Mortgage-backed securities and collateralized mortgage obligations | $ | 2,247 |  |  | $ | 692 |  |  | $ | — |  |  | $ | 2,939 |
Total held to maturity securities | $ | 2,247 |  |  | $ | 692 |  |  | $ | — |  |  | $ | 2,939 |
| December 31, 2023
(in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Available for sale: |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 1,551,074 |  |  | $ | 6,192 |  |  | $ | (78,874) |  |  | $ | 1,478,392 |
Obligations of states and political subdivisions | 1,073,264 |  |  | 20,451 |  |  | (21,610) |  |  | 1,072,105 |
Mortgage-backed securities and collateralized mortgage obligations | 6,638,439 |  |  | 28,558 |  |  | (387,624) |  |  | 6,279,373 |
Total available for sale securities | $ | 9,262,777 |  |  | $ | 55,201 |  |  | $ | (488,108) |  |  | $ | 8,829,870 |
Held to maturity: |  |  |  |  |  |  |
Mortgage-backed securities and collateralized mortgage obligations | $ | 2,300 |  |  | $ | 725 |  |  | $ | — |  |  | $ | 3,025 |
Total held to maturity securities | $ | 2,300 |  |  | $ | 725 |  |  | $ | — |  |  | $ | 3,025 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The following tables present debt securities that were in an unrealized loss position as of the dates presented, based on the length of time individual securities have been in an unrealized loss position.
| March 31, 2024
| Less than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Available for sale: |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 338,230 |  |  | $ | (3,305) |  |  | $ | 816,265 |  |  | $ | (82,674) |  |  | $ | 1,154,495 |  |  | $ | (85,979) |
Obligations of states and political subdivisions | 297,204 |  |  | (2,464) |  |  | 182,355 |  |  | (22,685) |  |  | 479,559 |  |  | (25,149) |
Mortgage-backed securities and collateralized mortgage obligations | 3,860,007 |  |  | (51,572) |  |  | 1,756,986 |  |  | (405,187) |  |  | 5,616,993 |  |  | (456,759) |
Total temporarily impaired securities | $ | 4,495,441 |  |  | $ | (57,341) |  |  | $ | 2,755,606 |  |  | $ | (510,546) |  |  | $ | 7,251,047 |  |  | $ | (567,887) |
| December 31, 2023
| Less than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Available for sale: |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 99,898 |  |  | $ | (1,074) |  |  | $ | 822,245 |  |  | $ | (77,800) |  |  | $ | 922,143 |  |  | $ | (78,874) |
Obligations of states and political subdivisions | 103,256 |  |  | (580) |  |  | 169,231 |  |  | (21,030) |  |  | 272,487 |  |  | (21,610) |
Mortgage-backed securities and collateralized mortgage obligations | 1,089,640 |  |  | (10,355) |  |  | 1,817,768 |  |  | (377,269) |  |  | 2,907,408 |  |  | (387,624) |
Total temporarily impaired securities | $ | 1,292,794 |  |  | $ | (12,009) |  |  | $ | 2,809,244 |  |  | $ | (476,099) |  |  | $ | 4,102,038 |  |  | $ | (488,108) |
Schedule Of Maturities Of Investment Securities | The following table presents the contractual maturities of debt securities as of March 31, 2024:
| Available For Sale |  | Held To Maturity
(in thousands) | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within one year | $ | 141,688 |  |  | $ | 139,856 |  |  | $ | — |  |  | $ | — |
Due after one year through five years | 2,259,829 |  |  | 2,213,929 |  |  | 2 |  |  | 2 |
Due after five years through ten years | 2,187,571 |  |  | 2,103,386 |  |  | 3 |  |  | 64 |
Due after ten years | 4,583,038 |  |  | 4,159,374 |  |  | 2,242 |  |  | 2,873 |
Total debt securities | $ | 9,172,126 |  |  | $ | 8,616,545 |  |  | $ | 2,247 |  |  | $ | 2,939 |
Investment Securities Pledged To Secure Borrowings And Public Deposits | The following table presents, as of March 31, 2024, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law:
(in thousands) | Amortized Cost |  | Fair Value
To state and local governments to secure public deposits | $ | 1,800,912 |  |  | $ | 1,638,230 |
To secure repurchase agreements | 326,111 |  |  | 297,673 |
Other securities pledged | 3,407,623 |  |  | 3,139,037 |
Total pledged securities | $ | 5,534,646 |  |  | $ | 5,074,940 |

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