Investment Securities (Tables)

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Values of Available for Sale Securities

Securities held for indefinite periods of time are classified as available for sale and carried at estimated fair value. The amortized cost and estimated fair values of securities available for sale are summarized as follows.


	December 31, 2025
			Gross		Gross		Allowance		Estimated
(Dollars in thousands)	Amortized		Unrealized		Unrealized		For Credit		Fair
	Cost		Gains		Losses		Losses		Value

U.S. Treasury securities and obligations of U.S. Government corporations and agencies	$	283,058	$	75	$	1,476	$	0	$	281,657
State and political subdivisions		572,217		343		55,634		0		516,926
Residential mortgage-backed securities Agency		1,467,436		5,517		114,317		0		1,358,636
Non-agency		42,792		330		4,237		0		38,885
Commercial mortgage-backed securities Agency		416,177		4,948		26,052		0		395,073
Asset-backed securities		225,617		18		2,381		0		223,254
Single issue trust preferred securities		13,319		0		661		0		12,658
Other corporate securities		244,244		0		11,881		0		232,363

Total	$	3,264,860	$	11,231	$	216,639	$	0	$	3,059,452


	December 31, 2024
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance For Credit Losses		Estimated Fair Value

U.S. Treasury securities and obligations of U.S. Government corporations and agencies	$	248,867	$	59	$	3,084	$	0	$	245,842
State and political subdivisions		574,580		8		79,515		0		495,073
Residential mortgage-backed securities Agency		1,226,400		433		167,114		0		1,059,719
Non-agency		88,392		262		6,531		0		82,123
Commercial mortgage-backed securities
Agency		372,646		38		42,698		0		329,986
Asset-backed securities		476,863		166		2,047		0		474,982
Single issue trust preferred securities		13,296		0		1,377		0		11,919
Other corporate securities		281,646		0		21,571		0		260,075

Total	$	3,282,690	$	966	$	323,937	$	0	$	2,959,719

Summary of Securities Available for Sale in an Unrealized Loss Position

The following is a summary of securities available for sale which were in an unrealized loss position at December 31, 2025 and December 31, 2024.


	Less than 12 months				12 months or longer				Total

	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses

December 31, 2025
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	$	133	$	1	$	31,485	$	1,475	$	31,618	$	1,476
State and political subdivisions		6,177		543		483,564		55,091		489,741		55,634
Residential mortgage-backed securities
Agency		109,848		270		795,183		114,047		905,031		114,317
Non-agency		0		0		21,189		4,237		21,189		4,237
Commercial mortgage-backed securities
Agency		6,287		4		293,038		26,048		299,325		26,052
Asset-backed securities		50,181		154		136,940		2,227		187,121		2,381
Single issue trust preferred securities		0		0		12,658		661		12,658		661
Other corporate securities		0		0		224,942		11,881		224,942		11,881

Total	$	172,626	$	972	$	1,998,999	$	215,667	$	2,171,625	$	216,639


	Less than 12 months				12 months or longer				Total

	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses

December 31, 2024
U.S. Treasury securities and obligations of U.S. Government corporations and agencies	$	1,476	$	3	$	42,886	$	3,081	$	44,362	$	3,084
State and political subdivisions		3,314		22		479,681		79,493		482,995		79,515
Residential mortgage-backed securities
Agency		128,655		1,660		856,448		165,454		985,103		167,114
Non-agency		0		0		59,668		6,531		59,668		6,531
Commercial mortgage-backed securities
Agency		0		0		319,506		42,698		319,506		42,698
Asset-backed securities		83,188		50		215,886		1,997		299,074		2,047
Single issue trust preferred securities		0		0		11,919		1,377		11,919		1,377
Other corporate securities		2,476		24		252,634		21,547		255,110		21,571

Total	$	219,109	$	1,759	$	2,238,628	$	322,178	$	2,457,737	$	323,937

Summary of Gains or Losses on Proceeds from Maturities, Sales and Calls of Available for Sale Securities by Specific Identification Method

The following table shows the proceeds from maturities, sales and calls of available for sale securities and the gross realized gains and losses on sales and calls of those securities that have been included in earnings as a result of any sales and calls. Gains or losses on sales and calls of available for sale securities were recognized by the specific identification method.


	Year Ended
(In thousands)	2025		2024		2023
Proceeds from maturities, sales and calls	$	2,260,860	$	2,914,095	$	952,213
Gross realized gains		0		0		0
Gross realized losses		0		16,296		7,659

Summary of Maturities of Debt Securities Held to Maturity by Amortized Cost and Estimated Fair Value


(In thousands)	Amortized Cost		Estimated Fair Value


Due in one year or less	$	298,573	$	298,193
Due after one year through five years		527,383		494,204
Due after five years through ten years		559,647		521,011
Due after ten years		1,879,257		1,746,044

Total	$	3,264,860	$	3,059,452

Summary of Equity Securities


	Year Ended
(In thousands)	December 31, 2025			December 31, 2024
Net gains recognized during the period on equity securities sold	$	0		$	4,602
Unrealized gains recognized during the period on equity securities still held at period end		11,445			4,259
Unrealized losses recognized during the period on equity securities still held at period end		(275	)		(285	)

Net gains recognized during the period	$	11,170		$	8,576

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

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