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Securities (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Value of AFS and HTM Securities | The amortized cost, gross unrealized gains and losses and fair value of debt securities AFS and HTM at September 30, 2025 and December 31, 2024 are summarized as follows:
|  | September 30, 2025
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
AFS Debt Securities |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 41,205 |  |  | $ | 346 |  |  | $ | (432) |  |  | $ | 41,119 |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 2,654,711 |  |  | 28,944 |  |  | (141,197) |  |  | 2,542,458 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 299,739 |  |  | 4,478 |  |  | (6,471) |  |  | 297,746 |
Private mortgage-backed securities and collateralized mortgage obligations |  | 103,825 |  |  | 348 |  |  | (5,582) |  |  | 98,591 |
CLOs |  | 216,818 |  |  | 698 |  |  | (309) |  |  | 217,207 |
Obligations of state and political subdivisions |  | 8,635 |  |  | 1 |  |  | (1,142) |  |  | 7,494 |
Other debt securities |  | 7,389 |  |  | 76 |  |  | — |  |  | 7,465 |
Totals |  | $ | 3,332,322 |  |  | $ | 34,891 |  |  | $ | (155,133) |  |  | $ | 3,212,080 |
HTM Debt Securities |  |  |  |  |  |  |  |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | $ | 511,031 |  |  | $ | — |  |  | $ | (93,719) |  |  | $ | 417,312 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 87,573 |  |  | — |  |  | (6,501) |  |  | 81,072 |
Totals |  | $ | 598,604 |  |  | $ | — |  |  | $ | (100,220) |  |  | $ | 498,384 |
|  | December 31, 2024
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
AFS Debt Securities |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 28,233 |  |  | $ | 29 |  |  | $ | (522) |  |  | $ | 27,740 |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 1,777,274 |  |  | 1,237 |  |  | (190,536) |  |  | 1,587,975 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 206,537 |  |  | 1,195 |  |  | (10,283) |  |  | 197,449 |
Private mortgage-backed securities and collateralized mortgage obligations |  | 129,475 |  |  | 149 |  |  | (8,382) |  |  | 121,242 |
CLOs |  | 278,342 |  |  | 788 |  |  | (166) |  |  | 278,964 |
Obligations of state and political subdivisions |  | 7,139 |  |  | — |  |  | (1,449) |  |  | 5,690 |
Other debt securities |  | 7,389 |  |  | 94 |  |  | — |  |  | 7,483 |
Totals |  | $ | 2,434,389 |  |  | $ | 3,492 |  |  | $ | (211,338) |  |  | $ | 2,226,543 |
HTM Debt Securities |  |  |  |  |  |  |  |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | $ | 546,444 |  |  | $ | — |  |  | $ | (117,620) |  |  | $ | 428,824 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 88,742 |  |  | — |  |  | (9,972) |  |  | 78,770 |
Totals |  | $ | 635,186 |  |  | $ | — |  |  | $ | (127,592) |  |  | $ | 507,594 |
Schedule of Amortized Cost and Fair Value of Held-to-Maturity Securities | The amortized cost, gross unrealized gains and losses and fair value of debt securities AFS and HTM at September 30, 2025 and December 31, 2024 are summarized as follows:
|  | September 30, 2025
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
AFS Debt Securities |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 41,205 |  |  | $ | 346 |  |  | $ | (432) |  |  | $ | 41,119 |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 2,654,711 |  |  | 28,944 |  |  | (141,197) |  |  | 2,542,458 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 299,739 |  |  | 4,478 |  |  | (6,471) |  |  | 297,746 |
Private mortgage-backed securities and collateralized mortgage obligations |  | 103,825 |  |  | 348 |  |  | (5,582) |  |  | 98,591 |
CLOs |  | 216,818 |  |  | 698 |  |  | (309) |  |  | 217,207 |
Obligations of state and political subdivisions |  | 8,635 |  |  | 1 |  |  | (1,142) |  |  | 7,494 |
Other debt securities |  | 7,389 |  |  | 76 |  |  | — |  |  | 7,465 |
Totals |  | $ | 3,332,322 |  |  | $ | 34,891 |  |  | $ | (155,133) |  |  | $ | 3,212,080 |
HTM Debt Securities |  |  |  |  |  |  |  |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | $ | 511,031 |  |  | $ | — |  |  | $ | (93,719) |  |  | $ | 417,312 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 87,573 |  |  | — |  |  | (6,501) |  |  | 81,072 |
Totals |  | $ | 598,604 |  |  | $ | — |  |  | $ | (100,220) |  |  | $ | 498,384 |
|  | December 31, 2024
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
AFS Debt Securities |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 28,233 |  |  | $ | 29 |  |  | $ | (522) |  |  | $ | 27,740 |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 1,777,274 |  |  | 1,237 |  |  | (190,536) |  |  | 1,587,975 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 206,537 |  |  | 1,195 |  |  | (10,283) |  |  | 197,449 |
Private mortgage-backed securities and collateralized mortgage obligations |  | 129,475 |  |  | 149 |  |  | (8,382) |  |  | 121,242 |
CLOs |  | 278,342 |  |  | 788 |  |  | (166) |  |  | 278,964 |
Obligations of state and political subdivisions |  | 7,139 |  |  | — |  |  | (1,449) |  |  | 5,690 |
Other debt securities |  | 7,389 |  |  | 94 |  |  | — |  |  | 7,483 |
Totals |  | $ | 2,434,389 |  |  | $ | 3,492 |  |  | $ | (211,338) |  |  | $ | 2,226,543 |
HTM Debt Securities |  |  |  |  |  |  |  |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | $ | 546,444 |  |  | $ | — |  |  | $ | (117,620) |  |  | $ | 428,824 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 88,742 |  |  | — |  |  | (9,972) |  |  | 78,770 |
Totals |  | $ | 635,186 |  |  | $ | — |  |  | $ | (127,592) |  |  | $ | 507,594 |
Schedule of Investments Classified by Contractual Maturity | The amortized cost and fair value of securities HTM and AFS as of September 30, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
|  | Held-to-Maturity |  | Available-for-Sale
(In thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in less than one year |  | $ | — |  |  | $ | — |  |  | $ | 14,004 |  |  | $ | 14,010 |
Due after one year through five years |  | — |  |  | — |  |  | 11,272 |  |  | 11,262 |
Due after five years through ten years |  | — |  |  | — |  |  | 8,321 |  |  | 8,598 |
Due after ten years |  | — |  |  | — |  |  | 16,243 |  |  | 14,743 |
|  | — |  |  | — |  |  | 49,840 |  |  | 48,613 |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 511,031 |  |  | 417,312 |  |  | 2,654,711 |  |  | 2,542,458 |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 87,573 |  |  | 81,072 |  |  | 299,739 |  |  | 297,746 |
Private mortgage-backed securities and collateralized mortgage obligations |  | — |  |  | — |  |  | 103,825 |  |  | 98,591 |
CLOs |  | — |  |  | — |  |  | 216,818 |  |  | 217,207 |
Other debt securities |  | — |  |  | — |  |  | 7,389 |  |  | 7,465 |
Totals |  | $ | 598,604 |  |  | $ | 498,384 |  |  | $ | 3,332,322 |  |  | $ | 3,212,080 |
Schedule of Debt Securities in Unrealized Loss Position | The tables below indicate the fair value of AFS debt securities with unrealized losses for which no allowance for credit losses has been recorded.
|  | September 30, 2025
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total 1
(In thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 313 |  |  | $ | (2) |  |  | $ | 14,493 |  |  | $ | (430) |  |  | $ | 14,806 |  |  | $ | (432) |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 175,515 |  |  | (2,115) |  |  | 786,425 |  |  | (139,082) |  |  | 961,940 |  |  | (141,197) |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 274 |  |  | — |  |  | 95,067 |  |  | (6,471) |  |  | 95,341 |  |  | (6,471) |
Private mortgage-backed securities and collateralized mortgage obligations |  | — |  |  | — |  |  | 81,657 |  |  | (5,582) |  |  | 81,657 |  |  | (5,582) |
CLOs |  | 45,106 |  |  | (132) |  |  | 44,532 |  |  | (177) |  |  | 89,638 |  |  | (309) |
Obligations of state and political subdivisions |  | — |  |  | — |  |  | 5,663 |  |  | (1,142) |  |  | 5,663 |  |  | (1,142) |
Totals |  | $ | 221,208 |  |  | $ | (2,249) |  |  | $ | 1,027,837 |  |  | $ | (152,884) |  |  | $ | 1,249,045 |  |  | $ | (155,133) |
1 Comprised of 337 individual securities. |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2024
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total 1
(In thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 4,825 |  |  | $ | (13) |  |  | $ | 18,060 |  |  | $ | (509) |  |  | $ | 22,885 |  |  | $ | (522) |
Residential mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 648,967 |  |  | (7,578) |  |  | 739,363 |  |  | (182,958) |  |  | 1,388,330 |  |  | (190,536) |
Commercial mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities |  | 13,200 |  |  | (222) |  |  | 107,041 |  |  | (10,061) |  |  | 120,241 |  |  | (10,283) |
Private mortgage-backed securities and collateralized mortgage obligations |  | 7,178 |  |  | (16) |  |  | 101,242 |  |  | (8,366) |  |  | 108,420 |  |  | (8,382) |
CLOs |  | 43,410 |  |  | (152) |  |  | 7,596 |  |  | (14) |  |  | 51,006 |  |  | (166) |
Obligations of state and political subdivisions |  | 319 |  |  | (15) |  |  | 5,371 |  |  | (1,434) |  |  | 5,690 |  |  | (1,449) |
Totals |  | $ | 717,899 |  |  | $ | (7,996) |  |  | $ | 978,673 |  |  | $ | (203,342) |  |  | $ | 1,696,572 |  |  | $ | (211,338) |
1 Comprised of 377 individual securities. |  |  |  |  |  |  |  |  |  |  |  |

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