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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]          
Net (loss) earnings $ (241,347) $ 71,952 $ 28,385 $ (169,395) $ 81,953
Other comprehensive income, net of tax:          
Unrealized net holding (losses) gains on securities AFS arising during the period (138,285) (9,215) 8,247 (147,500) 46,717
Income tax benefit (expense) related to unrealized net holding gains (losses) arising during the period 73,387 2,553 (2,351) 75,940 (13,303)
Unrealized net holding (losses) gains on securities AFS, net of tax (64,898) (6,662) 5,896 (71,560) 33,414
Reclassification adjustment for net losses included in net earnings 256,749 0 0 256,749 0
Income tax benefit related to reclassification adjustment (71,120) 0 0 (71,120) 0
Reclassification adjustment for net losses included in net earnings, net of tax 185,629 0 0 185,629 0
Amortization of unrealized net loss on securities transferred from AFS to HTM [1] 6,133 8,576 8,344 14,709 16,686
Income tax expense related to amortization of unrealized net loss on securities transferred from AFS to HTM (1,597) (2,376) (2,353) (3,973) (4,731)
Amortization of unrealized net loss on securities transferred from AFS to HTM, net of tax 4,536 6,200 5,991 10,736 11,955
Change in fair value of credit-linked notes (106) (111) (517) (217) (371)
Income tax benefit related to change in fair value of credit-linked notes 29 31 180 60 138
Change in fair value of credit-linked notes, net of tax (77) (80) (337) (157) (233)
Unrealized (loss) gain on cash flow hedges arising during the period (2,027) 2,584 (1,952) 557 (4,925)
Income tax benefit (expense) related to unrealized gain on cash flow hedges arising during the period 562 (716) 505 (154) 1,352
Unrealized (loss) gain on cash flow hedges, net of tax (1,465) 1,868 (1,447) 403 (3,573)
Other comprehensive income, net of tax 123,725 1,326 10,103 125,051 41,563
Comprehensive (loss) income $ (117,622) $ 73,278 $ 38,488 $ (44,344) $ 123,516
[1] As part of a strategic balance sheet actions completed during the three and six months ended June 30, 2026, the Company transferred all HTM securities, including those originally reclassified into the HTM portfolio, to the AFS portfolio at fair value. The previously combined net unrealized losses in AOCI attributable to these securities were recognized as part of the transfer and subsequent sale of the securities. See "Note 3. Investment Securities" for further detail on the securities portfolio.