v3.26.1
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of June 30, 2026 and December 31, 2025 by level in the valuation hierarchy (as described above):
June 30, 2026
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $381,979 $— $381,979 
FNMA MBS— 3,036,590 — 3,036,590 
FHLMC MBS— 148,735 — 148,735 
GNMA MBS— 88,416 — 88,416 
GSE agency notes— 185,288 — 185,288 
Other assets— 129,538 54 129,592 
Total assets measured at fair value on a recurring basis$— $3,970,546 $54 $3,970,600 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $117,259 $3,295 $120,554 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $6,472 $6,472 
Other real estate owned— — 12,690 12,690 
Loans held for sale— 33,926 — 33,926 
Total assets measured at fair value on a nonrecurring basis$— $33,926 $19,162 $53,088 
December 31, 2025
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $405,146 $— $405,146 
FNMA MBS— 2,785,407 — 2,785,407 
FHLMC MBS— 116,505 — 116,505 
GNMA MBS— 47,383 — 47,383 
GSE agency notes— 187,805 — 187,805 
Other assets— 145,425 80 145,505 
Total assets measured at fair value on a recurring basis$— $3,687,671 $80 $3,687,751 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $120,432 $5,429 $125,861 
Assets measured at fair value on a nonrecurring basis
Other investments$— $— $11,090 $11,090 
Other real estate owned— — 200 200 
Loans held for sale— 61,573 — 61,573 
Total assets measured at fair value on a nonrecurring basis$— $61,573 $11,290 $72,863 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following tables provide a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of June 30, 2026 and December 31, 2025:
(Dollars in thousands)June 30, 2026
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$6,472 Observed market comparable transactionsPeriod of observed transactions
June 2026
Other real estate owned12,690 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)54
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (265 bps)
LGD: –% - 2% (2%)
Other liabilities (Risk participation agreements sold)99 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 160 - 350 bps (200 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)3,196 Discounted cash flowTiming of Visa litigation resolution
1.00 year or 2Q 2027
(Dollars in thousands)December 31, 2025
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$11,090 Observed market comparable transactionsPeriod of observed transactionsDecember 2025
Other real estate owned200 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)80
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (281 bps)
LGD: 2%
Other liabilities (Risk participation agreements sold)122 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 160 - 350 bps (202 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)5,307 Discounted cash flowTiming of Visa litigation resolution
1.50 years or 2Q 2027
Schedule of Book Value and Estimated Fair Value of Financial Instruments
The book value and estimated fair value of the Company's financial instruments are as follows:
 
June 30, 2026December 31, 2025
(Dollars in thousands)Fair Value
Measurement		Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents, and restricted cashLevel 1$2,570,636 $2,570,636 $1,699,154 $1,699,154 
Investment securities available-for-saleLevel 23,841,008 3,841,008 3,542,246 3,542,246 
Investment securities held-to-maturity, netLevel 2943,292 845,831 968,331 879,066 
Other investmentsLevel 38,877 8,877 13,441 13,441 
Loans, held for saleLevel 233,926 33,926 61,573 61,573 
Loans and leases, net(1)
Level 313,289,859 13,267,874 13,082,027 13,171,197 
Stock in FHLB of PittsburghLevel 224,361 24,361 10,194 10,194 
Accrued interest receivableLevel 278,076 78,076 80,285 80,285 
Other assetsLevels 2, 3129,592 129,592 145,505 145,505 
Financial liabilities:
DepositsLevel 2$19,003,635 $18,988,879 $17,642,488 $17,631,304 
Borrowed fundsLevel 2307,017 290,911 302,682 288,470 
Standby letters of credit
Level 3892 892 766 766 
Accrued interest payableLevel 216,229 16,229 19,646 19,646 
Other liabilitiesLevels 2, 3120,554 120,554 125,861 125,861 
 (1) Includes reverse mortgage loans.