Securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items] |
|
| Amortized Cost and Fair Value of Debt Securities Available for Sale |
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June 30, 2026 |
|
December 31, 2025 |
|
|
|
|
Gross |
|
Gross |
|
|
|
|
|
Gross |
|
Gross |
|
|
|
Securities Available for Sale |
Amortized |
|
Unrealized |
|
Unrealized |
|
Fair |
|
Amortized |
|
Unrealized |
|
Unrealized |
|
Fair |
|
($ in thousands) |
Cost |
|
Gains |
|
Losses |
|
Value |
|
Cost |
|
Gains |
|
Losses |
|
Value |
|
U.S. Treasury and government agency securities |
$ |
288,981 |
|
$ |
2,223 |
|
$ |
1,697 |
|
$ |
289,507 |
|
$ |
266,825 |
|
$ |
3,705 |
|
$ |
1,198 |
|
$ |
269,332 |
|
Municipal obligations |
|
164,084 |
|
|
19 |
|
|
246 |
|
|
163,857 |
|
|
191,754 |
|
|
82 |
|
|
508 |
|
|
191,328 |
|
Residential mortgage-backed securities |
|
2,502,473 |
|
|
4,661 |
|
|
244,273 |
|
|
2,262,861 |
|
|
2,620,980 |
|
|
11,643 |
|
|
256,994 |
|
|
2,375,629 |
|
Commercial mortgage-backed securities |
|
3,342,418 |
|
|
3,574 |
|
|
97,293 |
|
|
3,248,699 |
|
|
3,217,663 |
|
|
10,530 |
|
|
144,868 |
|
|
3,083,325 |
|
Collateralized mortgage obligations |
|
22,989 |
|
|
— |
|
|
1,193 |
|
|
21,796 |
|
|
27,100 |
|
|
— |
|
|
1,154 |
|
|
25,946 |
|
Corporate debt securities |
|
20,000 |
|
|
11 |
|
|
511 |
|
|
19,500 |
|
|
17,000 |
|
|
37 |
|
|
680 |
|
|
16,357 |
|
Total |
$ |
6,340,945 |
|
$ |
10,488 |
|
$ |
345,213 |
|
$ |
6,006,220 |
|
$ |
6,341,322 |
|
$ |
25,997 |
|
$ |
405,402 |
|
$ |
5,961,917 |
|
|
| Amortized Cost and Fair Value of Debt Securities Held to Maturity |
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|
|
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|
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|
June 30, 2026 |
|
December 31, 2025 |
|
|
|
|
Gross |
|
Gross |
|
|
|
|
|
Gross |
|
Gross |
|
|
|
Securities Held to Maturity |
Amortized |
|
Unrealized |
|
Unrealized |
|
Fair |
|
Amortized |
|
Unrealized |
|
Unrealized |
|
Fair |
|
($ in thousands) |
Cost |
|
Gains |
|
Losses |
|
Value |
|
Cost |
|
Gains |
|
Losses |
|
Value |
|
U.S. Treasury and government agency securities |
$ |
362,407 |
|
$ |
52 |
|
$ |
30,320 |
|
$ |
332,139 |
|
$ |
373,605 |
|
$ |
248 |
|
$ |
30,143 |
|
$ |
343,710 |
|
Municipal obligations |
|
341,033 |
|
|
450 |
|
|
11,706 |
|
|
329,777 |
|
|
511,516 |
|
|
708 |
|
|
11,455 |
|
|
500,769 |
|
Residential mortgage-backed securities |
|
461,784 |
|
|
— |
|
|
37,876 |
|
|
423,908 |
|
|
497,338 |
|
|
— |
|
|
34,239 |
|
|
463,099 |
|
Commercial mortgage-backed securities |
|
704,287 |
|
|
— |
|
|
49,624 |
|
|
654,663 |
|
|
731,329 |
|
|
— |
|
|
46,455 |
|
|
684,874 |
|
Collateralized mortgage obligations |
|
15,628 |
|
|
— |
|
|
532 |
|
|
15,096 |
|
|
19,094 |
|
|
— |
|
|
520 |
|
|
18,574 |
|
Total |
$ |
1,885,139 |
|
$ |
502 |
|
$ |
130,058 |
|
$ |
1,755,583 |
|
$ |
2,132,882 |
|
$ |
956 |
|
$ |
122,812 |
|
$ |
2,011,026 |
|
|
| Proceeds from, Gross Gains on, and Gross Losses on Sales of Securities |
The following table presents the proceeds from, gross gains on, and gross losses on sales of securities during the six months ended June 30, 2026 and 2025. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.
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Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Proceeds |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,414,258 |
|
|
$ |
— |
|
Gross gains |
|
|
— |
|
|
|
— |
|
|
|
7 |
|
|
|
— |
|
Gross losses |
|
|
— |
|
|
|
— |
|
|
|
98,602 |
|
|
|
— |
|
Net loss |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(98,595 |
) |
|
$ |
— |
|
|
| Available for Sale Securities [Member] |
|
| Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items] |
|
| Amortized Cost and Fair Value of Debt Securities by Contractual Maturity |
|
|
|
|
|
|
|
|
|
Debt Securities Available for Sale |
|
Amortized |
|
|
Fair |
|
($ in thousands) |
|
Cost |
|
|
Value |
|
Due in one year or less |
|
$ |
36,421 |
|
|
$ |
36,425 |
|
Due after one year through five years |
|
|
1,471,156 |
|
|
|
1,438,607 |
|
Due after five years through ten years |
|
|
2,336,915 |
|
|
|
2,237,926 |
|
Due after ten years |
|
|
2,496,453 |
|
|
|
2,293,262 |
|
Total |
|
$ |
6,340,945 |
|
|
$ |
6,006,220 |
|
|
| Securities with Unrealized Losses |
The fair value and gross unrealized losses for securities classified as available for sale with unrealized losses for the periods indicated follow.
|
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|
|
|
|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
Available for Sale |
|
Losses < 12 months |
|
|
Losses 12 months or > |
|
|
Total |
|
($ in thousands) |
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
U.S. Treasury and government agency securities |
|
$ |
98,049 |
|
$ |
605 |
|
|
$ |
6,689 |
|
$ |
1,092 |
|
|
$ |
104,738 |
|
$ |
1,697 |
|
Municipal obligations |
|
|
37,833 |
|
|
150 |
|
|
|
49,139 |
|
|
96 |
|
|
|
86,972 |
|
|
246 |
|
Residential mortgage-backed securities |
|
|
404,847 |
|
|
5,219 |
|
|
|
1,237,483 |
|
|
239,054 |
|
|
|
1,642,330 |
|
|
244,273 |
|
Commercial mortgage-backed securities |
|
|
2,003,582 |
|
|
31,471 |
|
|
|
824,963 |
|
|
65,822 |
|
|
|
2,828,545 |
|
|
97,293 |
|
Collateralized mortgage obligations |
|
|
— |
|
|
— |
|
|
|
21,796 |
|
|
1,193 |
|
|
|
21,796 |
|
|
1,193 |
|
Corporate debt securities |
|
|
2,974 |
|
|
26 |
|
|
|
13,515 |
|
|
485 |
|
|
|
16,489 |
|
|
511 |
|
Total |
|
$ |
2,547,285 |
|
$ |
37,471 |
|
|
$ |
2,153,585 |
|
$ |
307,742 |
|
|
$ |
4,700,870 |
|
$ |
345,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Available for Sale |
|
Losses < 12 Months |
|
|
Losses 12 Months or > |
|
|
Total |
|
($ in thousands) |
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
U.S. Treasury and government agency securities |
|
$ |
17,468 |
|
$ |
9 |
|
|
$ |
14,677 |
|
$ |
1,189 |
|
|
$ |
32,145 |
|
$ |
1,198 |
|
Municipal obligations |
|
|
— |
|
|
— |
|
|
|
124,852 |
|
|
508 |
|
|
|
124,852 |
|
|
508 |
|
Residential mortgage-backed securities |
|
|
54,250 |
|
|
598 |
|
|
|
1,442,746 |
|
|
256,396 |
|
|
|
1,496,996 |
|
|
256,994 |
|
Commercial mortgage-backed securities |
|
|
374,740 |
|
|
1,787 |
|
|
|
2,158,865 |
|
|
143,081 |
|
|
|
2,533,605 |
|
|
144,868 |
|
Collateralized mortgage obligations |
|
|
— |
|
|
— |
|
|
|
25,946 |
|
|
1,154 |
|
|
|
25,946 |
|
|
1,154 |
|
Corporate debt securities |
|
|
1,998 |
|
|
2 |
|
|
|
11,322 |
|
|
678 |
|
|
|
13,320 |
|
|
680 |
|
Total |
|
$ |
448,456 |
|
$ |
2,396 |
|
|
$ |
3,778,408 |
|
$ |
403,006 |
|
|
$ |
4,226,864 |
|
$ |
405,402 |
|
|
| Held-to-maturity Securities [Member] |
|
| Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items] |
|
| Amortized Cost and Fair Value of Debt Securities by Contractual Maturity |
|
|
|
|
|
|
|
|
|
Debt Securities Held to Maturity |
|
Amortized |
|
|
Fair |
|
($ in thousands) |
|
Cost |
|
|
Value |
|
Due in one year or less |
|
$ |
101,001 |
|
|
$ |
100,705 |
|
Due after one year through five years |
|
|
660,247 |
|
|
|
634,985 |
|
Due after five years through ten years |
|
|
358,843 |
|
|
|
337,242 |
|
Due after ten years |
|
|
765,048 |
|
|
|
682,651 |
|
Total |
|
$ |
1,885,139 |
|
|
$ |
1,755,583 |
|
|
| Securities with Unrealized Losses |
The fair value and gross unrealized losses for securities classified as held to maturity with unrealized losses for the periods indicated follow.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
Held to Maturity |
|
Losses < 12 Months |
|
|
Losses 12 Months or > |
|
|
Total |
|
($ in thousands) |
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
U.S. Treasury and government agency securities |
|
$ |
13,212 |
|
$ |
115 |
|
|
$ |
306,716 |
|
$ |
30,205 |
|
|
$ |
319,928 |
|
$ |
30,320 |
|
Municipal obligations |
|
|
38,841 |
|
|
145 |
|
|
|
114,018 |
|
|
11,561 |
|
|
|
152,859 |
|
|
11,706 |
|
Residential mortgage-backed securities |
|
|
— |
|
|
— |
|
|
|
423,909 |
|
|
37,876 |
|
|
|
423,909 |
|
|
37,876 |
|
Commercial mortgage-backed securities |
|
|
— |
|
|
— |
|
|
|
654,662 |
|
|
49,624 |
|
|
|
654,662 |
|
|
49,624 |
|
Collateralized mortgage obligations |
|
|
— |
|
|
— |
|
|
|
15,096 |
|
|
532 |
|
|
|
15,096 |
|
|
532 |
|
Total |
|
$ |
52,053 |
|
$ |
260 |
|
|
$ |
1,514,401 |
|
$ |
129,798 |
|
|
$ |
1,566,454 |
|
$ |
130,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Held to Maturity |
|
Losses < 12 Months |
|
|
Losses 12 Months or > |
|
|
Total |
|
($ in thousands) |
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Gross
Unrealized
Losses |
|
U.S. Treasury and government agency securities |
|
$ |
— |
|
$ |
— |
|
|
$ |
316,814 |
|
$ |
30,143 |
|
|
$ |
316,814 |
|
$ |
30,143 |
|
Municipal obligations |
|
|
98,559 |
|
|
97 |
|
|
|
325,241 |
|
|
11,358 |
|
|
|
423,800 |
|
|
11,455 |
|
Residential mortgage-backed securities |
|
|
— |
|
|
— |
|
|
|
463,099 |
|
|
34,239 |
|
|
|
463,099 |
|
|
34,239 |
|
Commercial mortgage-backed securities |
|
|
— |
|
|
— |
|
|
|
684,874 |
|
|
46,455 |
|
|
|
684,874 |
|
|
46,455 |
|
Collateralized mortgage obligations |
|
|
— |
|
|
— |
|
|
|
18,574 |
|
|
520 |
|
|
|
18,574 |
|
|
520 |
|
Total |
|
$ |
98,559 |
|
$ |
97 |
|
|
$ |
1,808,602 |
|
$ |
122,715 |
|
|
$ |
1,907,161 |
|
$ |
122,812 |
|
|