v3.26.1
Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Credit Loss [Abstract]  
Schedule of Aging of the Company's Loan Portfolio
The tables below show the aging of the Company’s loan portfolio by the segmentation noted above at March 31, 2026, December 31, 2025 and March 31, 2025:
As of March 31, 202690+ days and still accruing60-89 days past due30-59 days past due
(In thousands)NonaccrualCurrentTotal Loans
Loan Balances (includes PCD):
Commercial$87,750 $— $9,996 $90,389 $17,575,086 $17,763,221 
Commercial real estate
Construction and development860 — — 7,607 2,315,475 2,323,942 
Non-construction15,897 — 17,133 46,536 11,758,778 11,838,344 
Home equity1,142 — 463 2,012 467,647 471,264 
Residential real estate, excluding early buy-out loans27,360 — 129 30,854 4,261,598 4,319,941 
Premium finance receivables—property & casualty33,891 15,823 16,188 47,936 7,776,493 7,890,331 
Premium finance receivables—life insurance— — 22,690 58,760 9,114,932 9,196,382 
Consumer and other16 10 130 230 122,256 122,642 
Total loans, net of unearned income, excluding early buy-out loans$166,916 $15,833 $66,729 $284,324 $53,392,265 $53,926,067 
Early buy-out loans guaranteed by U.S. government agencies (1)
— 55,678 — 410 89,137 145,225 
Total loans, net of unearned income$166,916 $71,511 $66,729 $284,734 $53,481,402 $54,071,292 
(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

As of December 31, 202590+ days and still accruing60-89 days past due30-59 days past due
(In thousands)NonaccrualCurrentTotal Loans
Loan Balances (includes PCD):
Commercial$78,059 $— $22,952 $90,205 $16,853,470 $17,044,686 
Commercial real estate
Construction and development2,976 — 1,260 13,456 2,391,890 2,409,582 
Non-construction22,171 — 18,269 52,145 11,438,569 11,531,154 
Home equity1,221 — 1,112 2,818 475,374 480,525 
Residential real estate, excluding early buy-out loans32,862 — 7,562 24,908 4,106,107 4,171,439 
Premium finance receivables—property & casualty29,354 19,115 29,294 57,685 8,047,968 8,183,416 
Premium finance receivables—life insurance— — 13,887 22,806 8,986,949 9,023,642 
Consumer and other8 42 466 643 113,705 114,864 
Total loans, net of unearned income, excluding early buy-out loans$166,651 $19,157 $94,802 $264,666 $52,414,032 $52,959,308 
Early buy-out loans guaranteed by U.S. government agencies (1)
— 53,848 204 1,316 90,425 145,793 
Total loans, net of unearned income$166,651 $73,005 $95,006 $265,982 $52,504,457 $53,105,101 
(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.
As of March 31, 202590+ days and still accruing60-89 days past due30-59 days past due
(In thousands)NonaccrualCurrentTotal Loans
Loan Balances (includes PCD):
Commercial$70,560 $46 $15,243 $97,397 $15,748,080 $15,931,326 
Commercial real estate
Construction and development3,613 — 820 3,994 2,440,454 2,448,881 
Non-construction22,574 — 6,175 79,659 10,357,612 10,466,020 
Home equity2,070 — 984 3,403 449,226 455,683 
Residential real estate, excluding early buy-out loans22,522 — 1,351 38,943 3,498,601 3,561,417 
Premium finance receivables—property & casualty29,846 18,081 19,717 39,459 7,132,759 7,239,862 
Premium finance receivables—life insurance— 2,962 10,587 29,924 8,321,667 8,365,140 
Consumer and other18 98 162 542 115,499 116,319 
Total loans, net of unearned income, excluding early buy-out loans$151,203 $21,187 $55,039 $293,321 $48,063,898 $48,584,648 
Early buy-out loans guaranteed by U.S. government agencies (1)
— 30,460 1,457 2,125 89,700 123,742 
Total loans, net of unearned income$151,203 $51,647 $56,496 $295,446 $48,153,598 $48,708,390 
(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.
Schedule of Loan Portfolio by Credit Quality Indicator
The table below shows the Company’s loan portfolio by credit quality indicator and year of origination at March 31, 2026:
Year of OriginationRevolvingTotal
(In thousands)20262025202420232022PriorRevolvingto TermLoans
Loan Balances:
Commercial
Pass$1,128,024 $3,409,076 $2,539,319 $1,466,746 $950,509 $1,706,753 $5,908,872 $4,296 $17,113,595 
Special mention12,932 39,064 17,338 39,832 10,024 49,877 185,800 1,831 356,698 
Substandard accrual38 13,422 42,162 31,142 25,238 26,935 65,876 365 205,178 
Substandard nonaccrual/doubtful699 7,575 9,533 15,633 26,369 27,798 93 50 87,750 
Total commercial, industrial and other$1,141,693 $3,469,137 $2,608,352 $1,553,353 $1,012,140 $1,811,363 $6,160,641 $6,542 $17,763,221 
Construction and development
Pass$44,408 $444,356 $581,752 $406,585 $457,670 $115,354 $13,095 $— $2,063,220 
Special mention— — — 100,199 110,536 17,143 — — 227,878 
Substandard accrual— — — 15,671 13,210 3,103 — — 31,984 
Substandard nonaccrual/doubtful— — — — — 860 — — 860 
Total construction and development$44,408 $444,356 $581,752 $522,455 $581,416 $136,460 $13,095 $— $2,323,942 
Non-construction
Pass$562,305 $2,251,927 $1,340,508 $1,134,410 $1,742,468 $4,143,030 $181,672 $631 $11,356,951 
Special mention89,700 2,038 1,218 54,433 66,903 57,754 1,414 — 273,460 
Substandard accrual— — 17,029 33,319 52,064 89,624 — — 192,036 
Substandard nonaccrual/doubtful— — — 1,347 690 13,860 — — 15,897 
Total non-construction$652,005 $2,253,965 $1,358,755 $1,223,509 $1,862,125 $4,304,268 $183,086 $631 $11,838,344 
Home equity
Pass$— $— $200 $96 $357 $23,237 $430,088 $2,012 $455,990 
Special mention— — 9 — 115 1,611 6,871 87 8,693 
Substandard accrual— — 11 224 19 3,490 1,598 97 5,439 
Substandard nonaccrual/doubtful— — — 98 188 856 — — 1,142 
Total home equity$— $— $220 $418 $679 $29,194 $438,557 $2,196 $471,264 
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies$— $397 $9,574 $9,245 $8,645 $117,364 $— $— $145,225 
Pass332,704 1,081,396 648,227 369,163 734,147 1,091,957 — — 4,257,594 
Special mention165 271 788 3,937 5,593 10,576 — — 21,330 
Substandard accrual— 298 217 1,192 5,876 6,074 — — 13,657 
Substandard nonaccrual/doubtful— 570 3,707 5,876 6,895 10,312 — — 27,360 
Total residential real estate$332,869 $1,082,932 $662,513 $389,413 $761,156 $1,236,283 $— $— $4,465,166 
Premium finance receivables - property and casualty
Pass$3,811,117 $3,950,911 $8,817 $366 $151 $— $— $— $7,771,362 
Special mention20,458 49,969 66 — — — — — 70,493 
Substandard accrual556 14,028 — — 1 — — — 14,585 
Substandard nonaccrual/doubtful276 32,607 1,007 — 1 — — — 33,891 
Total premium finance receivables - property and casualty$3,832,407 $4,047,515 $9,890 $366 $153 $— $— $— $7,890,331 
Premium finance receivables - life (1)
Pass$69,468 $650,710 $817,111 $579,801 $781,930 $6,294,282 $— $— $9,193,302 
Special mention— — — — — — — — 
Substandard accrual— — — — 3,080 — — — 3,080 
Substandard nonaccrual/doubtful— — — — — — — — — 
Total premium finance receivables - life$69,468 $650,710 $817,111 $579,801 $785,010 $6,294,282 $— $— $9,196,382 
Consumer and other
Pass$1,309 $4,898 $1,718 $1,459 $185 $27,834 $84,843 $— $122,246 
Special mention— 108 6 31 80 107 12 — 344 
Substandard accrual— 14 1 5 — 10 6 — 36 
Substandard nonaccrual/doubtful— 9 7 — — — — — 16 
Total consumer and other$1,309 $5,029 $1,732 $1,495 $265 $27,951 $84,861 $— $122,642 
Total loans
Early buy-out loans guaranteed by U.S. government agencies$— $397 $9,574 $9,245 $8,645 $117,364 $— $— $145,225 
Pass5,949,335 11,793,274 5,937,652 3,958,626 4,667,417 13,402,447 6,618,570 6,939 52,334,260 
Special mention123,255 91,450 19,425 198,432 193,251 137,068 194,097 1,918 958,896 
Substandard accrual594 27,762 59,420 81,553 99,488 129,236 67,480 462 465,995 
Substandard nonaccrual/doubtful975 40,761 14,254 22,954 34,143 53,686 93 50 166,916 
Total loans$6,074,159 $11,953,644 $6,040,325 $4,270,810 $5,002,944 $13,839,801 $6,880,240 $9,369 $54,071,292 
Gross write offs
Three months ended March 31, 2026$210 $8,273 $2,053 $3,126 $4,163 $5,824 $— $— $23,649 
(1)For premium finance receivables - life, the year of origination represents when the borrower’s master loan agreement was initially established.
Schedule of Held-to-Maturity Debt Securities by Credit Quality Indicator For purposes of the table below, the Company has converted any issuer rating from an NRSRO into the Company’s internal ratings based on Investment Policy and review by the Company’s management.
As of March 31, 2026Year of OriginationTotal
(In thousands)20262025202420232022PriorBalance
Amortized Cost Balances:
U.S. government agencies
1-4 internal grade$— $— $— $— $135,000 $178,541 $313,541 
5-7 internal grade— — — — — — — 
8-10 internal grade— — — — — — — 
Total U.S. government agencies$— $— $— $— $135,000 $178,541 $313,541 
Municipal
1-4 internal grade$— $— $— $4,092 $1,025 $132,113 $137,230 
5-7 internal grade— — — — — 1,887 1,887 
8-10 internal grade— — — — — — — 
Total municipal$— $— $— $4,092 $1,025 $134,000 $139,117 
Mortgage-backed securities
1-4 internal grade$— $— $— $252,587 $465,970 $2,070,216 $2,788,773 
5-7 internal grade— — — — — — — 
8-10 internal grade— — — — — — — 
Total mortgage-backed securities$— $— $— $252,587 $465,970 $2,070,216 $2,788,773 
Corporate notes
1-4 internal grade$— $— $— $4,974 $24,059 $29,033 
5-7 internal grade— — — — — — — 
8-10 internal grade— — — — — — — 
Total corporate notes$— $— $— $— $4,974 $24,059 $29,033 
Total held-to-maturity securities$3,270,464 
Less: Allowance for credit losses(257)
Held-to-maturity securities, net of allowance for credit losses$3,270,207 
Schedule of Allowance for Credit Losses As significant judgment is required, the review of the appropriateness of the allowance for credit losses is performed quarterly by various committees with participation by the Company's executive management.
March 31,December 31,March 31,
(In thousands)202620252025
Allowance for loan losses$390,651 $379,283 $378,207 
Allowance for unfunded lending-related commitments losses80,683 80,922 69,734 
Allowance for loan losses and unfunded lending-related commitments losses471,334 460,205 447,941 
Allowance for held-to-maturity securities losses257 260 446 
Allowance for credit losses$471,591 $460,465 $448,387 
Schedule of Activity in the Allowance for Credit Losses by Loan Portfolio
A summary of activity in the allowance for credit losses, specifically for the loan portfolio (i.e. allowance for loan losses and allowance for unfunded commitment losses), for the three months ended March 31, 2026 and March 31, 2025 is as follows:
Three months ended March 31, 2026Commercial Real EstateHome  EquityResidential Real EstatePremium Finance ReceivablesConsumer and OtherTotal Loans
(In thousands)Commercial
Allowance for credit losses at beginning of period$178,545 $246,933 $10,402 $12,519 $11,011 $795 $460,205 
Other adjustments— — — — (50)— (50)
Charge-offs(8,428)(7,260)— (350)(7,431)(180)(23,649)
Recoveries1,419 6 303 1 3,437 65 5,231 
Provision for credit losses 39,423 (14,809)(492)911 4,424 140 29,597 
Allowance for credit losses at period end$210,959 $224,870 $10,213 $13,081 $11,391 $820 $471,334 
By measurement method:
Individually measured$29,193 $2,165 $— $211 $— $16 $31,585 
Collectively measured181,766 222,705 10,213 12,870 11,391 804 439,749 
Loans at period end
Individually measured$87,750 $16,757 $1,142 $27,272 $— $16 $132,937 
Collectively measured17,675,471 14,145,529 470,122 4,287,424 17,086,713 122,626 53,787,885 
Loans held at fair value— — — 150,470 — — 150,470 
Three months ended March 31, 2025CommercialCommercial Real EstateHome  EquityResidential Real EstatePremium Finance ReceivablesConsumer and OtherTotal Loans
(In thousands)
Allowance for credit losses at beginning of period$175,837 $222,856 $8,943 $10,335 $17,820 $812 $436,603 
Other adjustments— — — — 4 — 4 
Charge-offs(9,722)(454)— — (7,126)(147)(17,449)
Recoveries929 12 216 136 3,487 29 4,809 
Provision for credit losses34,139 (12,404)(20)181 1,854 224 23,974 
Allowance for credit losses at period end$201,183 $210,010 $9,139 $10,652 $16,039 $918 $447,941 
By measurement method:
Individually measured$25,278 $6,772 $85 $43 $— $14 $32,192 
Collectively measured175,905 203,238 9,054 10,609 16,039 904 415,749 
Loans at period end
Individually measured$70,560 $26,187 $2,070 $22,434 $— $18 $121,269 
Collectively measured15,860,766 12,888,714 453,613 3,536,204 15,605,002 116,301 48,460,600 
Loans held at fair value— — — 126,521 — — 126,521 
Schedule of Modification of Loans
The tables below present a summary of the period-end balance of loans to borrowers experiencing financial difficulties during the three and three months ended March 31, 2026 and 2025:
Three Months Ended
March 31, 2026
(Dollars in thousands)
TotalPercentage of Total Class of LoanExtension of TermReduction of 
Interest
Rate		Interest Only
Payments		Delay in Contractual PaymentsExtension of Term and Reduction of Interest Rate
Commercial$20,6420.3 %$5,687 $38 $— $14,897 $20 
Commercial real estate
Construction and development5940.0 594 — — — — 
Non-construction13,1780.1 13,178 — — — — 
Premium finance receivables—property & casualty120.0 12 — — — — 
Total loans$34,4260.1 %$19,471 $38 $— $14,897 $20 

Weighted Average Magnitude of Modifications:
 Three Months Ended March 31, 2026
 (Dollars in thousands)
TotalDuration of Extension of Term (months)Reduction of 
Interest
Rate (bps)		Duration of Delay in Contractual Payments (months)
Commercial$20,642 28267 37
Commercial real estate
Construction and development594 11— — 
Non-construction13,178 3— — 
Premium finance receivables—property & casualty12 1— — 
Total loans$34,426 18267 37

Three Months Ended
March 31, 2025
(Dollars in thousands)
TotalPercentage of Total Class of LoanExtension of
Term		Reduction of 
Interest
Rate		Interest Only PaymentsDelay in Contractual PaymentsExtension of
Term and
Reduction of Interest Rate
Commercial$18,9480.3 %$18,624 $— $32 $— $292 
Residential real estate8730.0 163 — — — 710 
Total loans$19,8210.0 %$18,787 $— $32 $— $1,002 

Weighted Average Magnitude of Modifications:
Three Months Ended March 31, 2025
(Dollars in thousands)
TotalDuration of Extension of Term (months)Reduction of 
Interest
Rate (bps)		Duration of Delay in Contractual Payments (months)
Commercial$18,948 725 — 
Residential real estate873 48162 —
Total loans$19,821 8131 — 
Schedule of Loans for Borrowers Experiencing Financial Difficulties Modified
The following table presents a summary of all modified loans for borrowers experiencing financial difficulties and such loans that were in payment default under the restructured terms during the respective periods below:
(Dollars in thousands)
For the Twelve Months Ended March 31, 2026
Three Months Ended
March 31, 2026
For the Twelve Months Ended March 31, 2025
Three Months Ended
March 31, 2025
Total
Payments in Default  (1)
Total
Payments in 
Default  (1)
Commercial$45,738 $589 $29,487 $117 
Commercial real estate
Construction and development594 594 701 — 
Non-construction24,462 13,178 379 — 
Home equity117 — — — 
Residential real estate1,156 — 874 710 
Premium finance receivables—property & casualty12 12 676 — 
Total loans$72,079 $14,373 $32,117 $827 
(1)Modified loans considered to be in payment default are over 30 days past due subsequent to the restructuring.