v3.26.1
Fair Value of Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of The Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025:
Fair Value Measurements at Reporting Date Using
Balance as of March 31, 2026Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Description
(In thousands)
Assets
Securities available for sale:
Government-sponsored residential mortgage-backed securities$2,594,507 $— $2,594,507 $— 
Government-sponsored commercial mortgage-backed securities1,039,854 — 1,039,854 — 
U.S. Treasury securities50,175 50,175 — — 
State and municipal bonds and obligations175,728 — 175,728 — 
Investments for employee retirement benefits102,324 86,848 15,476 — 
Deferred compensation investments2,2032,203
Loans held for sale25,81425,814
Mortgage servicing rights39,84239,842
Interest rate swap contracts:
Cash flow hedges - interest rate positions91 — 91 — 
Customer-related positions49,949 — 49,949 — 
Risk participation agreements— — 
Foreign currency forward contracts:
Matched customer book978 — 978 — 
Foreign currency loan— — 
Mortgage derivatives754 — 754 — 
Total$4,082,237 $139,226 $3,903,169 $39,842 
Liabilities
Interest rate swap contracts:
Customer-related positions$71,365 $— $71,365 $— 
Risk participation agreements
Foreign currency forward contracts:
Matched customer book877 877 
Foreign currency loan
Mortgage derivatives91 — 91 — 
Total$72,342 $— $72,342 $— 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2025Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Securities available for sale:
Government-sponsored residential mortgage-backed securities$2,533,309 $— $2,533,309 $— 
Government-sponsored commercial mortgage-backed securities1,060,331 — 1,060,331 — 
U.S. Treasury securities50,350 50,350 — — 
State and municipal bonds and obligations181,579 — 181,579 — 
Investments for employee retirement benefits106,534 94,736 11,798 — 
Deferred compensation plan investments2,384 2,384 — — 
Loans held for sale22,76122,761
Mortgage servicing rights40,70940,709
Interest rate swap contracts:
Cash flow hedges - interest rate positions30 — 30 — 
Customer-related positions54,561 — 54,561 — 
Risk participation agreements10 — 10 — 
Foreign currency forward contracts:
Matched customer book434 — 434 — 
Foreign currency loan13 — 13 — 
Mortgage derivatives458 — 458 — 
Total$4,053,463 $147,470 $3,865,284 $40,709 
Liabilities
Interest rate swap contracts:
Cash flow hedges - interest rate positions$24 $— $24 $— 
Customer-related positions74,358 — 74,358 — 
Risk participation agreements— — 
Foreign currency forward contracts:
Matched customer book330 — 330 — 
Mortgage derivatives100 — 100 — 
Total$74,819 $— $74,819 $— 
Schedule of The Fair Value Of Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis The following tables summarize the fair value of assets and liabilities measured at fair value on a nonrecurring basis, as of March 31, 2026 and December 31, 2025.
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of March 31, 2026Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Individually assessed collateral-dependent loans whose fair value is based upon appraisals$76,031 $— $— $76,031 
Fair Value Measurements at Reporting Date Using
DescriptionBalance as of December 31, 2025Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Individually assessed collateral-dependent loans whose fair value is based upon appraisals$96,022 $— $— $96,022 
Schedule of Fair Value, by Balance Sheet Grouping
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated:
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of March 31, 2026Fair Value as of March 31, 2026Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Held to maturity securities:
Government-sponsored residential mortgage-backed securities$205,168 $188,388 $— $188,388 $— 
Government-sponsored commercial mortgage-backed securities183,047 171,044 — 171,044 — 
State and municipal bonds and obligations282,454 279,331 — 279,331 — 
Corporate bonds41,886 43,172 — 43,172 — 
Loans, net of allowance for loan losses22,596,152 22,284,210 — — 22,284,210 
FHLB stock38,801 38,801 — 38,801 — 
Bank-owned life insurance309,364 309,364 — 309,364 — 
Liabilities
Deposits$25,105,249 $25,134,586 $— $25,134,586 $— 
FHLB advances689,217 685,890 — 685,890 — 
Interest rate swap collateral funds27,991 27,991 — 27,991 — 
Fair Value Measurements at Reporting Date Using
DescriptionCarrying Value as of December 31, 2025Fair Value as of December 31, 2025Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
Assets
Held to maturity securities:
Government-sponsored residential mortgage-backed securities$210,142 $194,547 $— $194,547 $— 
Government-sponsored commercial mortgage-backed securities185,185 173,584 — 173,584 — 
State and municipal bonds and obligations167,346 169,861 — 169,861 — 
Corporate bonds36,884 37,982 — 37,982 — 
Loans, net of allowance for loan losses22,753,224 22,365,428 — — 22,365,428 
FHLB stock13,838 13,838 — 13,838 — 
Bank-owned life insurance307,836 307,836 — 307,836 — 
Liabilities
Deposits$25,470,751 $25,469,630 $— $25,469,630 $— 
FHLB advances199,617 196,450 — 196,450 — 
Interest rate swap collateral funds15,321 15,321 — 15,321 —