v3.26.1
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items
The following table summarizes the Company's derivatives designated as hedging instruments as of the dates indicated (in thousands):
June 30, 2026December 31, 2025
Notional Amount
Fair Value(1)
Notional Amount
Fair Value(1)
AssetLiabilityAssetLiability
Derivatives designated as cash flow hedges:
Interest rate swaps$3,505,000 $691 $(16,694)$4,555,000 $7,104 $(1,955)
Interest rate collar125,000 — — 125,000 1 — 
$3,630,000 $691 $(16,694)$4,680,000 $7,105 $(1,955)
(1)The fair values of derivatives are included in other assets or other liabilities in the consolidated balance sheets.
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest income or expense for the periods indicated (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Location of gain (loss) reclassified from AOCI into income:
Interest expense on deposits$— $832 $— $2,177 
Interest expense on borrowings531 5,074 1,480 11,115 
Interest income on loans784 (1,305)1,358 (2,609)
$1,315 $4,601 $2,838 $10,683 
Derivatives Not Designated as Hedging Instruments
The following table summarizes the Company's derivatives not designated as hedging instruments as of the dates indicated (in thousands):
June 30, 2026December 31, 2025
Notional Amount
Fair Value(1)
Notional Amount
Fair Value(1)
AssetLiabilityAssetLiability
Pay-fixed interest rate swaps$4,640,723 $41,641 $(18,399)$4,136,758 $26,526 $(50,883)
Pay-variable interest rate swaps4,640,723 18,425 (41,641)4,136,758 51,012 (26,526)
Interest rate caps and collars purchased
265,908 1,005 — 280,537 198 (42)
Interest rate caps and collars sold
265,908 — (1,005)280,537 42 (198)
RPAs purchased304,584 410 — 245,198 273 — 
RPAs sold419,233 — (178)357,889 — (212)
$10,537,079 $61,481 $(61,223)$9,437,677 $78,051 $(77,861)
(1)Fair values of these derivatives are included in other assets and other liabilities in the consolidated balance sheets. The notional amount and fair value of the foreign currency forward derivative contracts not designated as hedging instruments were not significant at June 30, 2026 and December 31, 2025.
Schedule of Interest Rate Swaps Subject to Master Netting Agreements
The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate derivative instruments subject to these agreements is as follows at the dates indicated (in thousands):
June 30, 2026
Gross Amounts Offset in Balance
Sheet		Net Amounts Presented in
Balance Sheet		Gross Amounts Not Offset in
Balance Sheet
Gross Amounts
Recognized		Derivative
Instruments		Collateral
Pledged		Net Amount
Derivative assets$43,337 $— $43,337 $(20,225)$(21,506)$1,606 
Derivative liabilities(35,093)— (35,093)20,225 14,868 — 
$8,244 $— $8,244 $— $(6,638)$1,606 
December 31, 2025
Gross Amounts Offset in Balance
Sheet		Net Amounts Presented in
Balance Sheet		Gross Amounts Not Offset in
Balance Sheet
Gross Amounts
Recognized		Derivative
Instruments		Collateral
Pledged		Net Amount
Derivative assets$33,829 $— $33,829 $(23,382)$(9,258)$1,189 
Derivative liabilities(52,880)— (52,880)23,382 29,498 — 
$(19,051)$— $(19,051)$— $20,240 $1,189