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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Values of Investment Securities

The following table presents the amortized cost and estimated fair values of investment securities:

			March 31, 2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Available for Sale			(dollars in thousands)
State and municipal securities			$	958,357					$	—					$	(166,660)					$	791,697
Corporate debt securities			294,686						668						(10,621)						284,733
Collateralized mortgage obligations			1,005,300						11,448						(9,900)						1,006,848
Residential mortgage-backed securities			1,000,882						2,605						(30,135)						973,352
Commercial mortgage-backed securities			611,804						—						(93,391)						518,413
Total			$	3,871,029					$	14,721					$	(310,707)					$	3,575,043
Held to Maturity
Residential mortgage-backed securities			$	640,273					$	1,309					$	(52,213)					$	589,369
Commercial mortgage-backed securities			856,007						—						(135,542)						720,465
Total			$	1,496,280					$	1,309					$	(187,755)					$	1,309,834

			December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Available for Sale			(dollars in thousands)
State and municipal securities			$	960,227					$	106					$	(145,446)					$	814,887
Corporate debt securities			313,681						1,123						(14,434)						300,370
Collateralized mortgage obligations			798,157						4,629						(13,901)						788,885
Residential mortgage-backed securities			1,029,846						30						(40,001)						989,875
Commercial mortgage-backed securities			617,605						—						(100,723)						516,882
Total			$	3,719,516					$	5,888					$	(314,505)					$	3,410,899
Held to Maturity
Residential mortgage-backed securities			$	537,856					$	2					$	(60,162)					$	477,696
Commercial mortgage-backed securities			857,713						—						(151,960)						705,753
Total			$	1,395,569					$	2					$	(212,122)					$	1,183,449

Schedule of Amortized Cost and Fair Values of Debt Securities by Contractual Maturities

The amortized cost and estimated fair values of debt securities as of March 31, 2025, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because issuers may have the right to call, or borrowers may have the right to prepay, with or without call or prepayment penalties.

						March 31, 2025
						Available for Sale												Held to Maturity
						Amortized Cost						Estimated Fair Value						Amortized Cost						Estimated Fair Value
			(dollars in thousands)
Due in one year or less						$	13,985					$	13,908					$	—					$	—
Due from one year to five years						105,663						104,052						—						—
Due from five years to ten years						298,517						283,407						—						—
Due after ten years						834,878						675,063						—						—
						1,253,043						1,076,430						—						—
Residential mortgage-backed securities(1)						1,000,882						973,352						640,273						589,369
Commercial mortgage-backed securities(1)						611,804						518,413						856,007						720,465
Collateralized mortgage obligations(1)						1,005,300						1,006,848						—						—
Total						$	3,871,029					$	3,575,043					$	1,496,280					$	1,309,834

(1) Maturities for mortgage-backed securities and collateralized mortgage obligations are dependent upon the interest rate environment and prepayments on the

underlying loans.

Summary of Gains and Losses from Equity and Debt Securities, and Losses Recognized from Other-than-Temporary Impairment

The following table presents information related to gross realized gains and losses on the sales of securities for the periods presented:

			Gross Realized Gains						Gross Realized Losses												Net Gains (Losses)
Three months ended			(dollars in thousands)
March 31, 2025			$	663					$	(665)											$	(2)
March 31, 2024			—						—												—

Gross Unrealized Losses and Fair Values of Investments by Category and Length of Time in Continuous Unrealized Loss Position

The following tables present the gross unrealized losses and estimated fair values of investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

			March 31, 2025
			Less than 12 months																		12 months or longer																		Total
			Number of Securities						Estimated Fair Value						Unrealized Losses						Number of Securities						Estimated Fair Value						Unrealized Losses						Estimated Fair Value						Unrealized Losses
Available for Sale			(dollars in thousands)
State and municipal securities			19						$	45,225					$	(2,451)					277						$	745,510					$	(164,209)					$	790,735					$	(166,660)
Corporate debt securities			1						9,500						(500)						44						251,670						(10,121)						261,170						(10,621)
Collateralized mortgage obligations			5						115,249						(999)						77						83,216						(8,901)						198,465						(9,900)
Residential mortgage-backed securities			19						404,904						(3,632)						69						175,232						(26,503)						580,136						(30,135)
Commercial mortgage-backed securities			1						19,691						(415)						135						498,722						(92,976)						518,413						(93,391)
Total available for sale			45						$	594,569					$	(7,997)					602						$	1,754,350					$	(302,710)					$	2,348,919					$	(310,707)
Held to Maturity
Residential mortgage-backed securities			6						$	122,777					$	(117)					120						$	299,666					$	(52,096)					$	422,443					$	(52,213)
Commercial mortgage-backed securities			—						—						—						60						720,465						(135,542)						720,465						(135,542)
Total held to maturity			6						$	122,777					$	(117)					180						$	1,020,131					$	(187,638)					$	1,142,908					$	(187,755)

			December 31, 2024
			Less than 12 months																		12 months or longer																		Total
			Number of Securities						Estimated Fair Value						Unrealized Losses						Number of Securities						Estimated Fair Value						Unrealized Losses						Estimated Fair Value						Unrealized Losses
Available for Sale			(dollars in thousands)
State and municipal securities			22						$	53,026					$	(1,692)					272						$	755,310					$	(143,754)					$	808,336					$	(145,446)
Corporate debt securities			1						4,844						(13)						47						264,099						(14,421)						268,943						(14,434)
Collateralized mortgage obligations			12						288,871						(3,463)						77						85,485						(10,438)						374,356						(13,901)
Residential mortgage-backed securities			42						777,695						(9,178)						69						174,284						(30,823)						951,979						(40,001)
Commercial mortgage-backed securities			1						19,291						(875)						135						497,591						(99,848)						516,882						(100,723)
Total available for sale			78						$	1,143,727					$	(15,221)					600						$	1,776,769					$	(299,284)					$	2,920,496					$	(314,505)
Held to Maturity
Residential mortgage-backed securities			7						$	155,726					$	(1,754)					120						$	303,220					$	(58,408)					$	458,946					$	(60,162)
Commercial mortgage-backed securities			—						—						—						60						705,753						(151,960)						705,753						(151,960)
Total held to maturity			7						$	155,726					$	(1,754)					180						$	1,008,973					$	(210,368)					$	1,164,699					$	(212,122)

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