Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Changes in the Allowance for Loan and Lease Losses

The following tables present the changes in the allowance for loan and lease losses by portfolio segment for the periods indicated:


	Three Months Ended March 31, 2026
	Commercial Real Estate		Commercial		Consumer		Total
	(In Thousands)
Balance at December 31, 2025	$	142,391	$	86,490	$	23,958	$	252,839
Charge-offs	(7,357)		(8,435)		(88)		(15,880)
Recoveries	360		1,824		145		2,329

Provision (credit) for loan and lease losses excluding unfunded commitments	15,040		4,418		(14,369)		5,089

Balance at March 31, 2026	$	150,434	$	84,297	$	9,646	$	244,377


	Three Months Ended March 31, 2025
	Commercial Real Estate		Commercial		Consumer		Total
	(In Thousands)
Balance at December 31, 2024	$	74,171	$	44,169	$	6,743	$	125,083

Charge-offs	—		(9,069)		(4)		(9,073)
Recoveries	—		1,422		54		1,476
Provision (credit) for loan and lease losses excluding unfunded commitments	(172)		6,834		(3)		6,659
Balance at March 31, 2025	$	73,999	$	43,356	$	6,790	$	124,145

Schedule of Provisions for Credit Losses

The provision (credit) for credit losses are set forth below for the periods indicated:


	Three Months Ended March 31,
	2026		2025
	(In Thousands)
Provision (credit) for loan and lease losses:
Commercial real estate	$	15,040	$	(172)
Commercial	4,418		6,834
Consumer	(14,369)		(3)

Total provision (credit) for loan and lease losses	5,089		6,659








Unfunded commitments	2,810		(685)
Investment securities available-for-sale	47		12
Total provision (credit) for credit losses	$	7,946	$	5,986

Schedule of the Recorded Investments by Credit Quality Indicator, by Loan Class

The following table presents the amortized cost basis of loans in each class by credit quality indicator and year of origination as of March 31, 2026.


	March 31, 2026
	2026		2025		2024		2023		2022		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
			(In Thousands)
Commercial Real Estate
Pass	$	125,088	$	567,059	$	496,402	$	763,816	$	1,227,243	$	3,443,673	$	117,841	$	14,114	$	6,755,236
OAEM	—		150		1,351		47,280		49,667		132,845		—		—		231,293
Substandard	—		282		2,182		7,898		73,090		92,253		25,501		—		201,206

Total	125,088		567,491		499,935		818,994		1,350,000		3,668,771		143,342		14,114		7,187,735
Current-period gross writeoffs	—		—		182		68		184		6,923		—		—		7,357
Multi-Family Mortgage
Pass	11,944		179,976		154,443		123,632		546,451		1,025,065		42,492		3,957		2,087,960
OAEM	—		—		—		—		43,828		—		—		—		43,828
Substandard	—		—		—		1,064		—		15,445		—		—		16,509

Total	11,944		179,976		154,443		124,696		590,279		1,040,510		42,492		3,957		2,148,297
Current-period gross writeoffs	—		—		—		—		—		—		—		—		—
Construction


	March 31, 2026
	2026	2025	2024	2023	2022	Prior	Revolving Loans	Revolving Loans Converted to Term Loans	Total
		(In Thousands)
Pass	6,236	182,777	115,698	146,417	52,600	19,941	3,922	—	527,591
OAEM	—	—	—	—	22,750	—	—	—	22,750
Substandard	—	—	—	—	71,035	—	—	—	71,035

Total	6,236	182,777	115,698	146,417	146,385	19,941	3,922	—	621,376
Commercial
Pass	130,715	299,457	310,326	301,784	177,165	308,222	1,238,146	26,212	2,792,027
OAEM	—	7,840	758	421	18,065	3,835	18,640	318	49,877
Substandard	—	124	8,806	3,603	4,369	15,192	63,509	778	96,381
Doubtful	—	—	—	184	—	—	—	—	184
Total	130,715	307,421	319,890	305,992	199,599	327,249	1,320,295	27,308	2,938,469
Current-period gross writeoffs	—	138	1,567	548	396	3,401	—	—	6,050
Equipment Financing
Pass	27,558	193,120	227,296	222,328	177,510	171,113	2,537	4,152	1,025,614
OAEM	9,258	722	3,755	8,200	7,888	6,917	—	9,233	45,973
Substandard	—	—	—	—	1,918	—	—	—	1,918

Total	36,816	193,842	231,051	230,528	187,316	178,030	2,537	13,385	1,073,505
Current-period gross writeoffs	—	—	—	48	—	2,336	—	—	2,384


	March 31, 2026
	2026	2025	2024	2023	2022	Prior	Revolving Loans	Revolving Loans Converted to Term Loans	Total
		(In Thousands)
Residential
Pass	43,751	326,374	348,321	516,620	679,753	1,235,901	4,700	—	3,155,420
OAEM	—	—	—	—	—	1,624	—	—	1,624
Substandard	—	—	—	—	442	10,063	—	—	10,505

Total	43,751	326,374	348,321	516,620	680,195	1,247,588	4,700	—	3,167,549
Current-period gross writeoffs	—	—	—	—	—	—	—	—	—
Home Equity
Pass	4,367	2,000	1,936	7,072	7,419	34,354	588,235	6,552	651,935
OAEM	—	—	—	—	—	27	356	—	383
Substandard	18	41	29	205	—	268	2,961	397	3,919

Total	4,385	2,041	1,965	7,277	7,419	34,649	591,552	6,949	656,237
Current-period gross writeoffs	—	—	—	—	—	—	—	—	—
Other Consumer
Pass	3,940	8,027	18,015	17,430	6,804	6,636	69,886	8	130,746
OAEM	—	7	2	23	1	—	3	—	36
Substandard	—	19	20	25	17	41	84	—	206

Total	3,940	8,053	18,037	17,478	6,822	6,677	69,973	8	130,988
Current-period gross writeoffs	—	9	38	18	8	15	—	—	88
Total
Pass	353,599	1,758,790	1,672,437	2,099,099	2,874,945	6,244,905	2,067,759	54,995	17,126,529
OAEM	9,258	8,719	5,866	55,924	142,199	145,248	18,999	9,551	395,764
Substandard	18	466	11,037	12,795	150,871	133,262	92,055	1,175	401,679
Doubtful	—	—	—	184	—	—	—	—	184


	March 31, 2026
	2026		2025		2024		2023		2022		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
			(In Thousands)
Total	$	362,875	$	1,767,975	$	1,689,340	$	2,168,002	$	3,168,015	$	6,523,415	$	2,178,813	$	65,721	$	17,924,156

The following tables present the recorded investment in loans in each class as of December 31, 2025, by credit quality indicator.


	December 31, 2025
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
	(In Thousands)
Commercial Real Estate
Pass	$	546,268	$	496,486	$	713,257	$	1,377,041	$	1,144,463	$	2,524,605	$	45,663	$	14,944	$	6,862,727
OAEM	14,599		732		53,420		42,680		43,317		37,747		—		387		192,882
Substandard	—		24,867		3,963		56,316		7,427		84,232		2,983		—		179,788

Total	560,867		522,085		770,640		1,476,037		1,195,207		2,646,584		48,646		15,331		7,235,397
Current -period gross writeoffs	—		569		18		4,641		—		3,458		—		—		8,686

Multi-Family Mortgage
Pass	165,979		110,718		113,109		618,623		278,798		811,649		4,551		3,982		2,107,409
OAEM	—		—		—		10,876		—		—		—		—		10,876
Substandard	—		—		1,066		2,863		11,477		22,289		—		—		37,695


	December 31, 2025
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
	(In Thousands)
Total	165,979		110,718		114,175		632,362		290,275		833,938		4,551		3,982		2,155,980
Current -period gross writeoffs	—		—		—		—		—		2,332		—		—		2,332
Construction
Pass	159,217		148,651		145,038		87,874		16,938		332		3,188		—		561,238
OAEM	—		—		—		37,689		—		—		—		—		37,689
Substandard	—		—		—		21,790		—		—		—		—		21,790

Total	159,217		148,651		145,038		147,353		16,938		332		3,188		—		620,717
Commercial
Pass	314,833		302,916		311,533		162,007		177,421		174,533		1,180,768		12,790		2,636,801
OAEM	—		774		236		20,727		135		4,361		35,864		339		62,436
Substandard	—		8,231		4,746		4,283		5,378		11,421		49,974		698		84,731
Doubtful	—		—		184		—		—		—		—		—		184
Total	314,833		311,921		316,699		187,017		182,934		190,315		1,266,606		13,827		2,784,152
Current-period gross writeoffs	—		1,082		210		5,199		106		7,353		1,467		—		15,417
Equipment Financing
Pass	196,359		241,981		265,403		210,829		94,341		101,526		2,951		4,359		1,117,749
OAEM	—		—		—		878		597		—		—		—		1,475
Substandard	138		3,778		12,026		8,090		2,532		3,959		—		11,541		42,064
Doubtful	—		—		—		1,918		—		5		—		—		1,923
Total	196,497		245,759		277,429		221,715		97,470		105,490		2,951		15,900		1,163,211
Current-period gross writeoffs	—		870		6,421		5,263		1,097		1,966		—		—		15,617






Other Consumer
Pass	10,735		19,553		19,614		7,792		3,311		4,270		75,916		14		141,205
OAEM	12		—		—		5		—		1		5		—		23
Substandard	1		41		2		46		6		7		32		—		135

Total	10,748		19,594		19,616		7,843		3,317		4,278		75,953		14		141,363
Current-period gross writeoffs	27		14		11		1		—		19		62		—		134
Total
Pass	1,393,391		1,320,305		1,567,954		2,464,166		1,715,272		3,616,915		1,313,037		36,089		13,427,129
OAEM	14,611		1,506		53,656		112,855		44,049		42,109		35,869		726		305,381
Substandard	139		36,917		21,803		93,388		26,820		121,908		52,989		12,239		366,203
Doubtful	—		—		184		1,918		—		5		—		—		2,107
Total	$	1,408,141	$	1,358,728	$	1,643,597	$	2,672,327	$	1,786,141	$	3,780,937	$	1,401,895	$	49,054	$	14,100,820


	At December 31, 2025
	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
	(In Thousands)
Residential
Credit Scores
Over 700	$	311,693	$	330,183	$	497,233	$	542,388	$	250,604	$	746,295	$	3,000	$	—	$	2,681,396
661 - 700	10,890		15,515		23,976		30,852		15,805		74,101		8		—		171,147
600 and below	4,983		8,539		10,528		15,014		11,306		43,250		—		—		93,620
Data not available*	24,658		3,334		5,729		103,341		6,076		144,124		—		—		287,262
Total	$	352,224	$	357,571	$	537,466	$	691,595	$283,791		$	1,007,770	$	3,008	$	—	$	3,233,425
Current-period gross writeoffs	—		—		—		—		—		1		—		—		1
Home Equity
Credit Scores
Over 700	$	5,286	$	1,882	$	6,714	$	7,087	$	7,111	$	26,203	$	542,324	$	3,737	$	600,344
661 - 700	—		23		54		559		177		2,211		55,752		986		59,762
600 and below	95		117		789		131		124		952		27,538		2,652		32,398
Data not available*	2		—		13		—		—		50		2,738		—		2,803
Total	$	5,383	$	2,022	$	7,570	$	7,777	$	7,412	$	29,416	$	628,352	$	7,375	$	695,307
Current-period gross writeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	64	$	—	64

_______________________________________________________________________________

* Primarily represents loans made to trusts and purchased mortgages.

Schedule of Information Regarding the Aging of Past Due Loans, by Loan Class

The following table presents an age analysis of the amortized cost basis in loans and leases as of March 31, 2026.


	At March 31, 2026
	Past Due										Past Due Greater Than 90 Days and Accruing
	31-60 Days		61-90 Days		Greater Than 90 Days		Total		Current					Total Loans and Leases			Non-accrual		Non-accrual with No Related Allowance
	(In Thousands)
Commercial real estate loans:
Commercial real estate	$	24,820	$	18,851	$	25,368	$	69,039	$	7,118,696		$	7,187,735		$	233	$	65,127	$	8,122
Multi-family mortgage	144		819		8,258		9,221		2,139,076			2,148,297			—		12,995		—
Construction	—		—		—		—		621,376			621,376			—		—		—
Total commercial real estate loans	24,964		19,670		33,626		78,260		9,879,148			9,957,408			233		78,122		8,122
Commercial loans and leases:
Commercial	7,249		578		20,900		28,727		2,909,742			2,938,469			205		22,626		9,663
Equipment financing	21,058		9,204		31,583		61,845		1,011,660			1,073,505			—		38,633		14,498

Total commercial loans and leases	28,307		9,782		52,483		90,572		3,921,402			4,011,974			205		61,259		24,161
Consumer loans:
Residential mortgage	9,565		1,836		7,465		18,866		3,148,683			3,167,549			4,698		5,807		5,865
Home equity	1,938		718		1,897		4,553		651,684			656,237			697		3,222		3,223
Other consumer	437		76		133		646		130,342			130,988			1		206		206
Total consumer loans	11,940		2,630		9,495		24,065		3,930,709			3,954,774			5,396		9,235		9,294
Total loans and leases	$	65,211	$	32,082	$	95,604	$	192,897	$	17,731,259		$	17,924,156		$	5,834	$	148,616	$	41,577

The following tables present an age analysis of the recorded investment in originated and acquired loans and leases as of December 31, 2025.


	At December 31, 2025
	Past Due										Loans and Leases Past Due Greater Than 90 Days and Accruing				Non-accrual with No Related Allowance
	31-60 Days		61-90 Days		Greater Than 90 Days		Total		Current					Total Loans and Leases					Non-accrual
	(In Thousands)

Commercial real estate loans:
Commercial real estate	$	10,348	$	7,457	$	21,663	$	39,468	$	7,195,929		$	7,235,397		$	3,250	$	41,246	$	1,340
Multi-family mortgage	148		—		18,400		18,548		2,137,432			2,155,980			14,340		4,065		1,066
Construction	—		—		15,000		15,000		605,717			620,717			15,000		—		—
Total commercial real estate loans	10,496		7,457		55,063		73,016		9,939,078			10,012,094			32,590		45,311		2,406
Commercial loans and leases:
Commercial	2,762		219		16,798		19,779		2,764,373			2,784,152			320		16,716		1,735
Equipment financing	12,513		7,456		36,795		56,764		1,106,447			1,163,211			112		42,718		2,531

Total commercial loans and leases	15,275		7,675		53,593		76,543		3,870,820			3,947,363			432		59,434		4,266
Consumer loans:
Residential mortgage	8,429		4,014		8,443		20,886		3,212,539			3,233,425			3,970		6,465		1,323
Home equity	2,793		1,030		1,486		5,309		689,998			695,307			811		2,811		32
Other consumer	287		68		133		488		140,875			141,363			20		135		—
Total consumer loans	11,509		5,112		10,062		26,683		4,043,412			4,070,095			4,801		9,411		1,355
Total loans and leases	$	37,280	$	20,244	$	118,718	$	176,242	$	17,853,310		$	18,029,552		$	37,823	$	114,156	$	8,027

Schedule of the Impaired and Non-impaired Loans and Leases, by Loan and Leases Class

The following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated.


	At March 31, 2026
	Commercial Real Estate		Commercial		Consumer		Total
	(In Thousands)
Allowance for Loan and Lease Losses:

Individually evaluated	$	46,852	$	32,044	$	—	$	78,896
Collectively evaluated	103,582		52,253		9,646		165,481
Total	$	150,434	$	84,297	$	9,646	$	244,377









Loans and Leases:

Individually evaluated	$	277,911	$	114,485	$	—	$	392,396
Collectively evaluated	9,679,497		3,897,489		3,954,774		17,531,760
Total	$	9,957,408	$	4,011,974	$	3,954,774	$	17,924,156


	At December 31, 2025
	Commercial Real Estate		Commercial		Consumer		Total
	(In Thousands)
Allowance for Loan and Lease Losses:

Individually evaluated	$	47,329	$	31,909	$	178	$	79,416
Collectively evaluated	95,062		54,581		23,780		173,423
Total loans and leases	$	142,391	$	86,490	$	23,958	$	252,839










Loans and Leases:
Individually evaluated	$	240,753	$	111,589	$	1,801	$	354,143
Collectively evaluated	9,771,341		3,835,774		4,068,294		17,675,409








Total loans and leases	$	10,012,094	$	3,947,363	$	4,070,095	$	18,029,552

Schedule of Financing Receivable, Modified

The following tables present the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.


	Three Months Ended March 31, 2026
	Number of Loans	Amortized Cost		% of Total Class of Loans and Leases		Financial Effect
		(In thousands)
Maturity Extension:
CRE	1	$	135	—	%	Loan was given a 5 year extension. The financial effect was deemed "de minimis.
C&I	4	5,904		0.20	%	Loans were given multi-month extensions totaling over a year. The financial effect was deemed "de minimis".
Significant Payment Delays:
Commercial Real Estate	1	243		—	%	Loan was given multiple deferrals of past 12 months totaling over 180 days. The financial effect was deemed "de minimis".


Combination - Maturity Extension and Significant Payment Delays
CRE	1	8,668		0.12	%	Loan was given 6 month extensions, and reductions in their stated interest rates of 2.5%. The financial effect was deemed "de minimis."
Equipment financing	2	701		0.07	%	Loans were given a 33 month extension with a 2% rate reduction and a 15 month extension with a 2.5% rate reduction, respectfully. The financial effect was deemed "de minimis."
Combination - Significant Payment Delays and Interest Rate Reduction:
Commercial Real Estate	1	2,907		0.04	%	Loan was given 3 month deferral, and reductions in their stated interest rates of 1.89%. The financial effect was deemed "de minimis."





Total	10	$	18,558

The following tables present the aging analysis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.


	Three Months Ended March 31, 2026
	Current		30-60 Days Past Due	61-90 Days Past Due	90+ Days Past Due	Modified
	(In thousands)
Total Modifications	$	6,847	135	—	11,576	—