v3.26.3
Investments (Tables)
 9 Months Ended
Sep. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale
The amortized cost and fair value of securities available-for-sale are as follows:

As of September 30, 2026
(dollars in thousands)		Amortized Cost
Allowance for credit losses(1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Available-for-sale:
Mortgage-backed securities$598,069 $— $9 $(86,181)$511,897 
Utah Housing Corporation bonds2,207 — — (346)1,861 
U.S. government-sponsored enterprises and Treasuries1,639,028 — — (13,967)1,625,061 
Other securities717,049 — 5,190 (13,949)708,290 
Total $2,956,353 $— $5,199 $(114,443)$2,847,109 
As of December 31, 2025
(dollars in thousands)		Amortized Cost
Allowance for credit losses(1)
Gross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Available-for-sale:
Mortgage-backed securities$545,550 $— $3,045 $(54,371)$494,224 
Utah Housing Corporation bonds2,490 — — (334)2,156 
U.S. government-sponsored enterprises and Treasuries649,087 — — (9,581)639,506 
Other securities615,281 — 14,344 (7,441)622,184 
Total $1,812,408 $— $17,389 $(71,727)$1,758,070 
(1) Represents the amount of impairment that has resulted from credit-related factors and that was recognized in the consolidated balance sheets (as a credit loss expense on available-for-sale securities). The amount excludes unrealized losses related to non-credit factors.
Schedule of Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value
The following table summarizes the amount of gross unrealized losses for our available-for-sale securities and the estimated fair value for securities having gross unrealized loss positions, categorized by length of time the securities have been in an unrealized loss position:

(Dollars in thousands)		Less than 12 months12 months or moreTotal
Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value
As of September 30, 2026:
Mortgage-backed securities$(16,320)$271,139 $(69,861)$237,898 $(86,181)$509,037 
Utah Housing Corporation bonds— — (346)1,861 (346)1,861 
U.S. government-sponsored enterprises and Treasuries(13,082)1,526,218 (885)98,843 (13,967)1,625,061 
Other securities(5,796)365,958 (8,153)89,273 (13,949)455,231 
Total$(35,198)$2,163,315 $(79,245)$427,875 $(114,443)$2,591,190 
As of December 31, 2025:
Mortgage-backed securities$(164)$10,896 $(54,207)$275,703 $(54,371)$286,599 
Utah Housing Corporation bonds— — (334)2,156 (334)2,156 
U.S. government-sponsored enterprises and Treasuries— — (9,581)639,506 (9,581)639,506 
Other securities(31)11,913 (7,410)119,191 (7,441)131,104 
Total$(195)$22,809 $(71,532)$1,036,556 $(71,727)$1,059,365 
Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturities
As of September 30, 2026, the amortized cost and fair value of securities, by contractual maturities, are summarized below. Contractual maturities versus actual maturities may differ due to the effect of prepayments.
As of September 30, 2026
Year of Maturity
(dollars in thousands)
Amortized CostEstimated Fair Value
2026$198,057 $197,969 
2027706,029 703,506 
2028409,804 405,124 
2029108,844 107,199 
2030107,845 105,602 
2031108,450 105,661 
203860 58 
2039386 361 
20421,545 1,288 
20432,989 2,526 
20443,319 2,824 
20454,046 3,389 
20466,153 5,079 
20475,646 4,730 
20481,614 1,420 
204911,881 9,885 
205089,388 67,071 
2051125,718 92,965 
205246,257 38,541 
2053242,570 236,843 
2054216,775 208,104 
2055215,407 209,034 
2056316,058 309,979 
205827,512 27,951 
Total$2,956,353 $2,847,109