Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investment Securities |
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| Schedule of amortized cost and fair value of investment securities held to maturity |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | (Dollars in thousands) | | Cost | | Gains | | Losses | | Value | | June 30, 2026: | | | | | | | | | | | | | | U.S. Government agencies | | $ | 132,915 | | $ | — | | $ | (16,795) | | $ | 116,120 | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 1,090,113 | | | — | | | (175,475) | | | 914,638 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 363,925 | | | — | | | (57,204) | | | 306,721 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 324,980 | | | — | | | (57,187) | | | 267,793 | | Small Business Administration loan-backed securities | | | 43,821 | | | — | | | (8,051) | | | 35,770 | | | | $ | 1,955,754 | | $ | — | | $ | (314,712) | | $ | 1,641,042 | | December 31, 2025: | | | | | | | | | | | | | | U.S. Government agencies | | $ | 132,913 | | $ | — | | $ | (15,767) | | $ | 117,146 | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 1,153,024 | | | — | | | (177,101) | | | 975,923 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 379,107 | | | — | | | (55,232) | | | 323,875 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 336,910 | | | — | | | (58,332) | | | 278,578 | | Small Business Administration loan-backed securities | | | 46,076 | | | — | | | (8,748) | | | 37,328 | | | | $ | 2,048,030 | | $ | — | | $ | (315,180) | | $ | 1,732,850 | |
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| Schedule of amortized cost and fair value of investment securities available for sale |
| | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | (Dollars in thousands) | | Cost | | Gains | | Losses | | Value | | June 30, 2026: | | | | | | | | | | | | | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | $ | 2,026,760 | | $ | 4,562 | | $ | (144,756) | | $ | 1,886,566 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 2,082,757 | | | 5,511 | | | (54,109) | | | 2,034,159 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 1,095,770 | | | 1,050 | | | (79,341) | | | 1,017,479 | | State and municipal obligations | | | 1,240,617 | | | 2,484 | | | (128,351) | | | 1,114,750 | | Small Business Administration loan-backed securities | | | 547,528 | | | 433 | | | (24,844) | | | 523,117 | | Corporate securities | | | 23,000 | | | — | | | (894) | | | 22,106 | | | | $ | 7,016,432 | | $ | 14,040 | | $ | (432,295) | | $ | 6,598,177 | | December 31, 2025: | | | | | | | | | | | | | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | $ | 1,826,307 | | $ | 10,108 | | $ | (138,307) | | $ | 1,698,108 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 2,208,710 | | | 23,979 | | | (47,105) | | | 2,185,584 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 903,209 | | | 3,282 | | | (74,042) | | | 832,449 | | State and municipal obligations | | | 1,141,377 | | | 1,252 | | | (135,217) | | | 1,007,412 | | Small Business Administration loan-backed securities | | | 593,973 | | | 548 | | | (26,088) | | | 568,433 | | Corporate securities | | | 23,000 | | | — | | | (1,230) | | | 21,770 | | | | $ | 6,696,576 | | $ | 39,169 | | $ | (421,989) | | $ | 6,313,756 | |
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| Schedule of amortized cost and carrying value of other investment securities |
| | | | | | | Carrying | | (Dollars in thousands) | | Value | | June 30, 2026: | | | | | Federal Home Loan Bank stock | | $ | 32,336 | | Federal Reserve Bank stock | | | 234,374 | | Investment in unconsolidated subsidiaries | | | 5,287 | | Other investment securities | | | 94,989 | | | | $ | 366,986 | | December 31, 2025: | | | | | Federal Home Loan Bank stock | | $ | 18,086 | | Federal Reserve Bank stock | | | 234,374 | | Investment in unconsolidated subsidiaries | | | 5,287 | | Other investment securities | | | 95,681 | | | | $ | 353,428 | |
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| Schedule of amortized cost and fair value of debt securities by contractual maturity |
| | | | | | | | | | | | | | | | Securities | | Securities | | | | Held to Maturity | | Available for Sale | | | | Amortized | | Fair | | Amortized | | Fair | | (Dollars in thousands) | | Cost | | Value | | Cost | | Value | | Due in one year or less | | $ | — | | $ | — | | $ | 25,660 | | $ | 25,525 | | Due after one year through five years | | | 172,583 | | | 160,937 | | | 415,952 | | | 411,268 | | Due after five years through ten years | | | 330,479 | | | 287,326 | | | 1,211,660 | | | 1,143,401 | | Due after ten years | | | 1,452,692 | | | 1,192,779 | | | 5,363,160 | | | 5,017,983 | | | | $ | 1,955,754 | | $ | 1,641,042 | | $ | 7,016,432 | | $ | 6,598,177 | |
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| Schedule of information with respect to sales of available-for-sale securities |
| | | | | | | | | | | | | | | | | | | | | | | | 2025 | | (Dollars in thousands) | | Sales of Securities Acquired from Independent | | Investment Securities Sales | | Total | | Sale proceeds | | $ | 1,279,717 | | $ | 1,594,393 | | $ | 2,874,110 | | Gross realized gains | | | — | | | 8,892 | | | 8,892 | | Gross realized losses | | | — | | | (237,703) | | | (237,703) | | Net realized losses | | $ | — | | $ | (228,811) | | $ | (228,811) | |
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| Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position |
| | | | | | | | | | | | | | | | Less Than | | 12 Months | | | | 12 Months | | or More | | | | Gross Unrealized | | Fair | | Gross Unrealized | | Fair | | (Dollars in thousands) | | Losses | | Value | | Losses | | Value | | June 30, 2026: | | | | | | | | | | | | | | Securities Held to Maturity | | | | | | | | | | | | | | U.S. Government agencies | | $ | — | | $ | — | | $ | 16,795 | | $ | 116,120 | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 175,475 | | | 914,638 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 57,204 | | | 306,721 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 57,188 | | | 267,793 | | Small Business Administration loan-backed securities | | | — | | | — | | | 8,050 | | | 35,770 | | | | $ | — | | $ | — | | $ | 314,712 | | $ | 1,641,042 | | Securities Available for Sale | | | | | | | | | | | | | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | $ | 5,882 | | $ | 694,570 | | $ | 138,873 | | $ | 752,869 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 5,713 | | | 874,273 | | | 48,396 | | | 258,069 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 4,740 | | | 462,508 | | | 74,602 | | | 391,176 | | State and municipal obligations | | | 436 | | | 61,086 | | | 127,914 | | | 864,249 | | Small Business Administration loan-backed securities | | | 403 | | | 126,057 | | | 24,442 | | | 358,963 | | Corporate securities | | | 64 | | | 9,936 | | | 830 | | | 12,170 | | | | $ | 17,238 | | $ | 2,228,430 | | $ | 415,057 | | $ | 2,637,496 | | December 31, 2025: | | | | | | | | | | | | | | Securities Held to Maturity | | | | | | | | | | | | | | U.S. Government agencies | | $ | — | | $ | — | | $ | 15,767 | | $ | 117,146 | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 177,101 | | | 975,923 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 55,232 | | | 323,874 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | — | | | — | | | 58,332 | | | 278,579 | | Small Business Administration loan-backed securities | | | — | | | — | | | 8,748 | | | 37,328 | | | | $ | — | | $ | — | | $ | 315,180 | | $ | 1,732,850 | | Securities Available for Sale | | | | | | | | | | | | | | Residential mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | $ | 459 | | $ | 145,357 | | $ | 137,848 | | $ | 803,407 | | Residential collateralized mortgage-obligations issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 46 | | | 40,399 | | | 47,059 | | | 278,620 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | | | | | | | agencies or sponsored enterprises | | | 228 | | | 152,299 | | | 73,814 | | | 423,165 | | State and municipal obligations | | | 572 | | | 43,620 | | | 134,645 | | | 903,784 | | Small Business Administration loan-backed securities | | | 680 | | | 284,036 | | | 25,408 | | | 202,322 | | Corporate securities | | | — | | | — | | | 1,230 | | | 21,769 | | | | $ | 1,985 | | $ | 665,711 | | $ | 420,004 | | $ | 2,633,067 | |
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| Schedule of trading securities |
| | | | | | | | | | June 30, | | December 31, | | (Dollars in thousands) | | 2026 | | 2025 | | U.S. Government agencies | | $ | 9,855 | | $ | 1,872 | | Residential mortgage pass-through securities issued or guaranteed by U.S. | | | | | | | | government agencies or sponsored enterprises | | | 20,667 | | | 9,799 | | Other residential mortgage issued or guaranteed by U.S. government | | | | | | | | agencies or sponsored enterprises | | | 7,705 | | | 1,419 | | Commercial mortgage-backed securities issued by U.S. government | | | | | | | | agencies or sponsored enterprises | | | 28,073 | | | 5,966 | | State and municipal obligations | | | 42,131 | | | 24,816 | | Small Business Administration asset-backed securities | | | 82,421 | | | 66,173 | | Other debt securities | | | 242 | | | 138 | | | | $ | 191,094 | | $ | 110,183 | |
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| Summary of net gains (losses) on trading securities |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | (Dollars in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | Net gains (losses) on sales transaction | | $ | 1,017 | | $ | (418) | | $ | 1,401 | | $ | (56) | | Net unrealized gains (losses) | | | 89 | | | 291 | | | (487) | | | 412 | | Net gains (losses) on trading securities | | $ | 1,106 | | $ | (127) | | $ | 914 | | $ | 356 | |
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