Note 3 - Debt Securities Available for Sale and Held to Maturity (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Notes Tables |
|
| Debt Securities, Available-for-sale and Held-to-maturity [Table Text Block] |
| |
|
At June 30, 2026
|
|
| |
|
|
|
|
|
Gross
|
|
|
Gross
|
|
|
|
|
|
| |
|
Amortized
|
|
|
Unrealized
|
|
|
Unrealized
|
|
|
Fair
|
|
| |
|
Cost
|
|
|
Gains
|
|
|
Losses
|
|
|
Value
|
|
| |
|
(In thousands)
|
|
|
Debt securities available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agency residential mortgage-backed securities ("MBS")
|
|
$ |
178,726 |
|
|
$ |
1 |
|
|
$ |
(11,712 |
) |
|
$ |
167,015 |
|
|
Agency commercial MBS
|
|
|
1,152,186 |
|
|
|
1 |
|
|
|
(21,372 |
) |
|
|
1,130,815 |
|
|
Securities of U.S. Government sponsored entities
|
|
|
308,276 |
|
|
|
- |
|
|
|
(11,745 |
) |
|
|
296,531 |
|
|
Obligations of states and political subdivisions
|
|
|
40,964 |
|
|
|
7 |
|
|
|
(540 |
) |
|
|
40,431 |
|
|
Corporate securities
|
|
|
1,917,695 |
|
|
|
5 |
|
|
|
(121,617 |
) |
|
|
1,796,083 |
|
|
Collateralized loan obligations
|
|
|
208,278 |
|
|
|
263 |
|
|
|
(239 |
) |
|
|
208,302 |
|
|
Total debt securities available for sale
|
|
|
3,806,125 |
|
|
|
277 |
|
|
|
(167,225 |
) |
|
|
3,639,177 |
|
|
Debt securities held to maturity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agency residential MBS
|
|
|
38,873 |
|
|
|
19 |
|
|
|
(2,388 |
) |
|
|
36,504 |
|
|
Agency commercial MBS
|
|
|
19,329 |
|
|
|
- |
|
|
|
(78 |
) |
|
|
19,251 |
|
|
Obligations of states and political subdivisions
|
|
|
15,839 |
|
|
|
8 |
|
|
|
(12 |
) |
|
|
15,835 |
|
|
Corporate securities
|
|
|
733,806 |
|
|
|
501 |
|
|
|
(15,457 |
) |
|
|
718,850 |
|
|
Total debt securities held to maturity
|
|
|
807,847 |
|
|
|
528 |
|
|
|
(17,935 |
) |
|
|
790,440 |
|
|
Total
|
|
$ |
4,613,972 |
|
|
$ |
805 |
|
|
$ |
(185,160 |
) |
|
$ |
4,429,617 |
|
| |
|
At December 31, 2025
|
|
| |
|
|
|
|
|
Gross
|
|
|
Gross
|
|
|
|
|
|
| |
|
Amortized
|
|
|
Unrealized
|
|
|
Unrealized
|
|
|
Fair
|
|
| |
|
Cost
|
|
|
Gains
|
|
|
Losses
|
|
|
Value
|
|
| |
|
(In thousands)
|
|
|
Debt securities available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agency residential MBS
|
|
$ |
194,394 |
|
|
$ |
8 |
|
|
$ |
(10,056 |
) |
|
$ |
184,346 |
|
|
Agency commercial MBS
|
|
|
709,371 |
|
|
|
1,600 |
|
|
|
(3,411 |
) |
|
|
707,560 |
|
|
Securities of U.S. Government sponsored entities
|
|
|
309,079 |
|
|
|
72 |
|
|
|
(6,739 |
) |
|
|
302,412 |
|
|
Obligations of states and political subdivisions
|
|
|
46,264 |
|
|
|
1 |
|
|
|
(543 |
) |
|
|
45,722 |
|
|
Corporate securities
|
|
|
1,913,553 |
|
|
|
- |
|
|
|
(109,473 |
) |
|
|
1,804,080 |
|
|
Collateralized loan obligations
|
|
|
425,465 |
|
|
|
400 |
|
|
|
(1,251 |
) |
|
|
424,614 |
|
|
Total debt securities available for sale
|
|
|
3,598,126 |
|
|
|
2,081 |
|
|
|
(131,473 |
) |
|
|
3,468,734 |
|
|
Debt securities held to maturity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agency residential MBS
|
|
|
43,734 |
|
|
|
26 |
|
|
|
(2,231 |
) |
|
|
41,529 |
|
|
Obligations of states and political subdivisions
|
|
|
33,597 |
|
|
|
10 |
|
|
|
(36 |
) |
|
|
33,571 |
|
|
Corporate securities
|
|
|
742,244 |
|
|
|
3,245 |
|
|
|
(8,009 |
) |
|
|
737,480 |
|
|
Total debt securities held to maturity
|
|
|
819,575 |
|
|
|
3,281 |
|
|
|
(10,276 |
) |
|
|
812,580 |
|
|
Total
|
|
$ |
4,417,701 |
|
|
$ |
5,362 |
|
|
$ |
(141,749 |
) |
|
$ |
4,281,314 |
|
|
| Investments Classified by Contractual Maturity Date [Table Text Block] |
| |
|
At June 30, 2026
|
|
| |
|
Debt Securities Available
|
|
|
Debt Securities Held
|
|
| |
|
for Sale
|
|
|
to Maturity
|
|
| |
|
Amortized
|
|
|
Fair
|
|
|
Amortized
|
|
|
Fair
|
|
| |
|
Cost
|
|
|
Value
|
|
|
Cost
|
|
|
Value
|
|
| |
|
(In thousands)
|
|
|
Maturity in years:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year or less
|
|
$ |
179,617 |
|
|
$ |
178,159 |
|
|
$ |
91,670 |
|
|
$ |
91,531 |
|
|
Over 1 to 5 years
|
|
|
1,521,309 |
|
|
|
1,430,382 |
|
|
|
375,858 |
|
|
|
373,005 |
|
|
Over 5 to 10 years
|
|
|
566,009 |
|
|
|
524,504 |
|
|
|
282,117 |
|
|
|
270,149 |
|
|
Subtotal
|
|
|
2,266,935 |
|
|
|
2,133,045 |
|
|
|
749,645 |
|
|
|
734,685 |
|
|
Collateralized loan obligations
|
|
|
208,278 |
|
|
|
208,302 |
|
|
|
- |
|
|
|
- |
|
|
Agency residential MBS
|
|
|
178,726 |
|
|
|
167,015 |
|
|
|
38,873 |
|
|
|
36,504 |
|
|
Agency commercial MBS
|
|
|
1,152,186 |
|
|
|
1,130,815 |
|
|
|
19,329 |
|
|
|
19,251 |
|
|
Total
|
|
$ |
3,806,125 |
|
|
$ |
3,639,177 |
|
|
$ |
807,847 |
|
|
$ |
790,440 |
|
| |
|
At December 31, 2025
|
|
| |
|
Debt Securities Available
|
|
|
Debt Securities Held
|
|
| |
|
for Sale
|
|
|
to Maturity
|
|
| |
|
Amortized
|
|
|
Fair
|
|
|
Amortized
|
|
|
Fair
|
|
| |
|
Cost
|
|
|
Value
|
|
|
Cost
|
|
|
Value
|
|
| |
|
(In thousands)
|
|
|
Maturity in years:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 year or less
|
|
$ |
199,254 |
|
|
$ |
198,573 |
|
|
$ |
33,326 |
|
|
$ |
33,302 |
|
|
Over 1 to 5 years
|
|
|
1,231,338 |
|
|
|
1,182,101 |
|
|
|
425,387 |
|
|
|
428,326 |
|
|
Over 5 to 10 years
|
|
|
838,304 |
|
|
|
771,540 |
|
|
|
317,128 |
|
|
|
309,423 |
|
|
Subtotal
|
|
|
2,268,896 |
|
|
|
2,152,214 |
|
|
|
775,841 |
|
|
|
771,051 |
|
|
Collateralized loan obligations
|
|
|
425,465 |
|
|
|
424,614 |
|
|
|
- |
|
|
|
- |
|
|
Agency residential MBS
|
|
|
194,394 |
|
|
|
184,346 |
|
|
|
43,734 |
|
|
|
41,529 |
|
|
Agency commercial MBS
|
|
|
709,371 |
|
|
|
707,560 |
|
|
|
- |
|
|
|
- |
|
|
Total
|
|
$ |
3,598,126 |
|
|
$ |
3,468,734 |
|
|
$ |
819,575 |
|
|
$ |
812,580 |
|
|
| Schedule of Unrealized Loss on Investments 1 [Table Text Block] |
| |
|
Debt Securities Available for Sale
|
|
| |
|
At June 30, 2026
|
|
| |
|
No. of
|
|
|
Less than 12 months
|
|
|
No. of
|
|
|
12 months or longer
|
|
|
No. of
|
|
|
Total
|
|
| |
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
| |
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
| |
|
($ in thousands)
|
|
|
Agency residential MBS
|
|
|
5 |
|
|
$ |
9,256 |
|
|
$ |
(195 |
) |
|
|
104 |
|
|
$ |
157,738 |
|
|
$ |
(11,517 |
) |
|
|
109 |
|
|
$ |
166,994 |
|
|
$ |
(11,712 |
) |
|
Agency commercial MBS
|
|
|
139 |
|
|
|
1,129,439 |
|
|
|
(21,372 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
139 |
|
|
|
1,129,439 |
|
|
|
(21,372 |
) |
|
Securities of U.S.
Government sponsored
entities
|
|
|
3 |
|
|
|
15,456 |
|
|
|
(75 |
) |
|
|
18 |
|
|
|
281,075 |
|
|
|
(11,670 |
) |
|
|
21 |
|
|
|
296,531 |
|
|
|
(11,745 |
) |
Obligations of states
and political
subdivisions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
23 |
|
|
|
27,833 |
|
|
|
(540 |
) |
|
|
23 |
|
|
|
27,833 |
|
|
|
(540 |
) |
|
Corporate securities
|
|
|
18 |
|
|
|
132,215 |
|
|
|
(2,323 |
) |
|
|
117 |
|
|
|
1,648,862 |
|
|
|
(119,294 |
) |
|
|
135 |
|
|
|
1,781,077 |
|
|
|
(121,617 |
) |
|
Collateralized loan
obligations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4 |
|
|
|
32,440 |
|
|
|
(239 |
) |
|
|
4 |
|
|
|
32,440 |
|
|
|
(239 |
) |
|
Total
|
|
|
165 |
|
|
$ |
1,286,366 |
|
|
$ |
(23,965 |
) |
|
|
266 |
|
|
$ |
2,147,948 |
|
|
$ |
(143,260 |
) |
|
|
431 |
|
|
$ |
3,434,314 |
|
|
$ |
(167,225 |
) |
| |
|
Debt Securities Held to Maturity
|
|
| |
|
At June 30, 2026
|
|
| |
|
No. of
|
|
|
Less than 12 months
|
|
|
No. of
|
|
|
12 months or longer
|
|
|
No. of
|
|
|
Total
|
|
| |
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
| |
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
| |
|
($ in thousands)
|
|
|
Agency residential MBS
|
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
52 |
|
|
$ |
35,586 |
|
|
$ |
(2,388 |
) |
|
|
52 |
|
|
$ |
35,586 |
|
|
$ |
(2,388 |
) |
| Agency commercial MBS |
|
|
2 |
|
|
|
19,251 |
|
|
|
(78 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2 |
|
|
|
19,251 |
|
|
|
(78 |
) |
|
Obligations of states
and political
subdivisions
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
9 |
|
|
|
7,327 |
|
|
|
(12 |
) |
|
|
9 |
|
|
|
7,327 |
|
|
|
(12 |
) |
|
Corporate securities
|
|
|
27 |
|
|
|
281,163 |
|
|
|
(1,646 |
) |
|
|
23 |
|
|
|
355,096 |
|
|
|
(13,811 |
) |
|
|
50 |
|
|
|
636,259 |
|
|
|
(15,457 |
) |
|
Total
|
|
|
29 |
|
|
$ |
300,414 |
|
|
$ |
(1,724 |
) |
|
|
84 |
|
|
$ |
398,009 |
|
|
$ |
(16,211 |
) |
|
|
113 |
|
|
$ |
698,423 |
|
|
$ |
(17,935 |
) |
| |
|
Debt Securities Available for Sale
|
|
| |
|
At December 31, 2025
|
|
| |
|
No. of
|
|
|
Less than 12 months
|
|
|
No. of
|
|
|
12 months or longer
|
|
|
No. of
|
|
|
Total
|
|
| |
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
|
Investment
|
|
|
|
|
|
|
Unrealized
|
|
| |
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
| |
|
($ in thousands)
|
|
|
Agency residential MBS
|
|
|
2 |
|
|
$ |
10,541 |
|
|
$ |
(147 |
) |
|
|
107 |
|
|
$ |
173,186 |
|
|
$ |
(9,909 |
) |
|
|
109 |
|
|
$ |
183,727 |
|
|
$ |
(10,056 |
) |
|
Agency commercial MBS
|
|
|
56 |
|
|
|
438,102 |
|
|
|
(3,411 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
56 |
|
|
|
438,102 |
|
|
|
(3,411 |
) |
|
Securities of U.S.
Government sponsored
entities
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
19 |
|
|
|
284,747 |
|
|
|
(6,739 |
) |
|
|
19 |
|
|
|
284,747 |
|
|
|
(6,739 |
) |
Obligations of states
and political
subdivisions |
|
|
2 |
|
|
|
3,382 |
|
|
|
(1 |
) |
|
|
28 |
|
|
|
37,520 |
|
|
|
(542 |
) |
|
|
30 |
|
|
|
40,902 |
|
|
|
(543 |
) |
|
Corporate securities
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
129 |
|
|
|
1,804,080 |
|
|
|
(109,473 |
) |
|
|
129 |
|
|
|
1,804,080 |
|
|
|
(109,473 |
) |
|
Collateralized loan
obligations
|
|
|
2 |
|
|
|
22,924 |
|
|
|
(77 |
) |
|
|
5 |
|
|
|
49,693 |
|
|
|
(1,174 |
) |
|
|
7 |
|
|
|
72,617 |
|
|
|
(1,251 |
) |
|
Total
|
|
|
62 |
|
|
$ |
474,949 |
|
|
$ |
(3,636 |
) |
|
|
288 |
|
|
$ |
2,349,226 |
|
|
$ |
(127,837 |
) |
|
|
350 |
|
|
$ |
2,824,175 |
|
|
$ |
(131,473 |
) |
| |
|
Debt Securities Held to Maturity
|
|
| |
|
At December 31, 2025
|
|
| |
|
No. of
|
|
|
Less than 12 months
|
|
|
No. of
|
|
|
12 months or longer
|
|
|
No. of
|
|
|
Total
|
|
| |
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
|
Investment
|
|
|
|
|
|
|
Unrecognized
|
|
| |
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
|
Positions
|
|
|
Fair Value
|
|
|
Losses
|
|
| |
|
($ in thousands)
|
|
|
Agency residential MBS
|
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
59 |
|
|
$ |
40,523 |
|
|
$ |
(2,231 |
) |
|
|
59 |
|
|
$ |
40,523 |
|
|
$ |
(2,231 |
) |
|
Obligations of states
and political
subdivisions
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
17 |
|
|
|
16,087 |
|
|
|
(36 |
) |
|
|
17 |
|
|
|
16,087 |
|
|
|
(36 |
) |
|
Corporate securities
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
23 |
|
|
|
359,421 |
|
|
|
(8,009 |
) |
|
|
23 |
|
|
|
359,421 |
|
|
|
(8,009 |
) |
|
Total
|
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
99 |
|
|
$ |
416,031 |
|
|
$ |
(10,276 |
) |
|
|
99 |
|
|
$ |
416,031 |
|
|
$ |
(10,276 |
) |
|
| Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block] |
| |
|
For the Six Months Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
| |
|
(In thousands)
|
|
|
Allowance for credit losses:
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$ |
1 |
|
|
$ |
1 |
|
|
Provision
|
|
|
- |
|
|
|
- |
|
|
Chargeoffs
|
|
|
- |
|
|
|
- |
|
|
Recoveries
|
|
|
- |
|
|
|
- |
|
|
Total ending balance
|
|
$ |
1 |
|
|
$ |
1 |
|
|
| Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block] |
| |
|
Credit Risk Profile by Credit Rating
|
|
| |
|
At June 30, 2026
|
|
| |
|
AAA/AA/A
|
|
|
BBB+/BBB
|
|
|
Not Rated
|
|
|
Total
|
|
| |
|
(In thousands)
|
|
|
Agency residential MBS
|
|
$ |
38,451 |
|
|
$ |
- |
|
|
$ |
422 |
|
|
$ |
38,873 |
|
|
Agency commercial MBS
|
|
|
19,329 |
|
|
|
- |
|
|
|
- |
|
|
|
19,329 |
|
|
Obligations of states and political subdivisions
|
|
|
15,839 |
|
|
|
- |
|
|
|
- |
|
|
|
15,839 |
|
|
Corporate securities
|
|
|
579,262 |
|
|
|
154,544 |
|
|
|
- |
|
|
|
733,806 |
|
|
Total
|
|
$ |
652,881 |
|
|
$ |
154,544 |
|
|
$ |
422 |
|
|
$ |
807,847 |
|
|
| Interest Income from Investments [Table Text Block] |
| |
|
For the Three Months
|
|
|
For the Six Months
|
|
| |
|
Ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
|
2026
|
|
|
2025
|
|
| |
|
(In thousands)
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
|
$ |
42,587 |
|
|
$ |
38,847 |
|
|
$ |
83,616 |
|
|
$ |
80,127 |
|
|
Tax-exempt from regular federal income tax
|
|
|
546 |
|
|
|
824 |
|
|
|
1,152 |
|
|
|
1,663 |
|
|
Total interest income from investment securities
|
|
$ |
43,133 |
|
|
$ |
39,671 |
|
|
$ |
84,768 |
|
|
$ |
81,790 |
|
|