Investment Securities (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] |
The amortized cost and fair values of AFS and HTM securities at September 30, 2026 were as follows: | | | | | | | | | | | | | | | | (in thousands) | Amortized
Cost | Gross
Unrealized
Gains | Gross
Unrealized
Losses | Fair Value | | | | AFS investment securities | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | $ | 6,849 | | $ | — | | $ | (457) | | $ | 6,392 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 146,337 | | 106 | | (11,979) | | 134,464 | | | GNMA | 5,542,393 | | 317 | | (190,604) | | 5,352,106 | | | | | | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 369,363 | | — | | (21,964) | | 347,399 | | | GNMA | 111,099 | | — | | (8,236) | | 102,863 | | | Asset backed securities: | | | | | | FFELP | 86,587 | | 34 | | (573) | | 86,048 | | | SBA | 174,150 | | — | | (9,648) | | 164,502 | | | | | | | Other debt securities(a) | 6,750 | | — | | (1,696) | | 5,054 | | | Total AFS investment securities | $ | 6,443,528 | | $ | 457 | | $ | (245,157) | | $ | 6,198,828 | | | HTM investment securities | | | | | | U.S. Treasury securities | $ | 997 | | $ | — | | $ | (4) | | $ | 993 | | | Obligations of state and political subdivisions (municipal securities) | 1,576,827 | | 44 | | (272,110) | | 1,304,761 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 771,047 | | — | | (172,347) | | 598,700 | | | GNMA | 36,181 | | — | | (4,547) | | 31,634 | | | Private-label | 284,928 | | — | | (60,012) | | 224,916 | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 752,924 | | — | | (143,020) | | 609,904 | | | GNMA | 39,316 | | — | | (5,342) | | 33,974 | | | Total HTM investment securities | $ | 3,462,220 | | $ | 44 | | $ | (657,382) | | $ | 2,804,882 | | | | | | |
(a)Unrealized losses includes allowance for credit losses The amortized cost and fair values of AFS and HTM securities at December 31, 2025 were as follows: | | | | | | | | | | | | | | | | (in thousands) | Amortized
Cost | Gross
Unrealized
Gains | Gross
Unrealized
Losses | Fair Value | | | | AFS investment securities | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | $ | 3,063 | | $ | 1 | | $ | (20) | | $ | 3,044 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 134,142 | | 1,214 | | (5,493) | | 129,863 | | | GNMA | 5,000,015 | | 40,067 | | (253) | | 5,039,829 | | | | | | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 17,959 | | — | | (1,001) | | 16,958 | | | GNMA | 113,374 | | — | | (3,818) | | 109,556 | | | Asset backed securities: | | | | | | FFELP | 95,977 | | 19 | | (950) | | 95,046 | | | SBA | 283 | | — | | (14) | | 269 | | | | | | | | Other debt securities | 3,000 | | — | | (2) | | 2,998 | | | Total AFS investment securities | $ | 5,367,813 | | $ | 41,301 | | $ | (11,551) | | $ | 5,397,563 | | | HTM investment securities | | | | | | U.S. Treasury securities | $ | 996 | | $ | 19 | | $ | — | | $ | 1,015 | | | Obligations of state and political subdivisions (municipal securities) | 1,628,088 | | 3,070 | | (123,856) | | 1,507,302 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 823,630 | | 165 | | (127,333) | | 696,462 | | | GNMA | 39,123 | | 82 | | (2,321) | | 36,884 | | | Private-label | 302,817 | | — | | (43,990) | | 258,827 | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 763,370 | | — | | (113,004) | | 650,366 | | | GNMA | 44,552 | | 152 | | (4,566) | | 40,138 | | | Total HTM investment securities | $ | 3,602,576 | | $ | 3,488 | | $ | (415,070) | | $ | 3,190,994 | | | | | | | | | | | |
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| Debt Securities, Held-to-Maturity [Table Text Block] |
The amortized cost and fair values of AFS and HTM securities at September 30, 2026 were as follows: | | | | | | | | | | | | | | | | (in thousands) | Amortized
Cost | Gross
Unrealized
Gains | Gross
Unrealized
Losses | Fair Value | | | | AFS investment securities | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | $ | 6,849 | | $ | — | | $ | (457) | | $ | 6,392 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 146,337 | | 106 | | (11,979) | | 134,464 | | | GNMA | 5,542,393 | | 317 | | (190,604) | | 5,352,106 | | | | | | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 369,363 | | — | | (21,964) | | 347,399 | | | GNMA | 111,099 | | — | | (8,236) | | 102,863 | | | Asset backed securities: | | | | | | FFELP | 86,587 | | 34 | | (573) | | 86,048 | | | SBA | 174,150 | | — | | (9,648) | | 164,502 | | | | | | | Other debt securities(a) | 6,750 | | — | | (1,696) | | 5,054 | | | Total AFS investment securities | $ | 6,443,528 | | $ | 457 | | $ | (245,157) | | $ | 6,198,828 | | | HTM investment securities | | | | | | U.S. Treasury securities | $ | 997 | | $ | — | | $ | (4) | | $ | 993 | | | Obligations of state and political subdivisions (municipal securities) | 1,576,827 | | 44 | | (272,110) | | 1,304,761 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 771,047 | | — | | (172,347) | | 598,700 | | | GNMA | 36,181 | | — | | (4,547) | | 31,634 | | | Private-label | 284,928 | | — | | (60,012) | | 224,916 | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 752,924 | | — | | (143,020) | | 609,904 | | | GNMA | 39,316 | | — | | (5,342) | | 33,974 | | | Total HTM investment securities | $ | 3,462,220 | | $ | 44 | | $ | (657,382) | | $ | 2,804,882 | | | | | | |
(a)Unrealized losses includes allowance for credit losses The amortized cost and fair values of AFS and HTM securities at December 31, 2025 were as follows: | | | | | | | | | | | | | | | | (in thousands) | Amortized
Cost | Gross
Unrealized
Gains | Gross
Unrealized
Losses | Fair Value | | | | AFS investment securities | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | $ | 3,063 | | $ | 1 | | $ | (20) | | $ | 3,044 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 134,142 | | 1,214 | | (5,493) | | 129,863 | | | GNMA | 5,000,015 | | 40,067 | | (253) | | 5,039,829 | | | | | | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 17,959 | | — | | (1,001) | | 16,958 | | | GNMA | 113,374 | | — | | (3,818) | | 109,556 | | | Asset backed securities: | | | | | | FFELP | 95,977 | | 19 | | (950) | | 95,046 | | | SBA | 283 | | — | | (14) | | 269 | | | | | | | | Other debt securities | 3,000 | | — | | (2) | | 2,998 | | | Total AFS investment securities | $ | 5,367,813 | | $ | 41,301 | | $ | (11,551) | | $ | 5,397,563 | | | HTM investment securities | | | | | | U.S. Treasury securities | $ | 996 | | $ | 19 | | $ | — | | $ | 1,015 | | | Obligations of state and political subdivisions (municipal securities) | 1,628,088 | | 3,070 | | (123,856) | | 1,507,302 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 823,630 | | 165 | | (127,333) | | 696,462 | | | GNMA | 39,123 | | 82 | | (2,321) | | 36,884 | | | Private-label | 302,817 | | — | | (43,990) | | 258,827 | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 763,370 | | — | | (113,004) | | 650,366 | | | GNMA | 44,552 | | 152 | | (4,566) | | 40,138 | | | Total HTM investment securities | $ | 3,602,576 | | $ | 3,488 | | $ | (415,070) | | $ | 3,190,994 | | | | | | | | | | | |
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| Investments Classified by Contractual Maturity Date [Table Text Block] |
The expected maturities of AFS and HTM securities at September 30, 2026, are shown below: | | | | | | | | | | | | | | | | AFS | HTM | | (in thousands) | Amortized
Cost | Fair
Value | Amortized
Cost | Fair
Value | | Due in one year or less | $ | 4,750 | | $ | 3,059 | | $ | 7,118 | | $ | 7,080 | | | Due after one year through five years | 6,243 | | 6,002 | | 90,248 | | 87,290 | | | Due after five years through ten years | — | | — | | 333,317 | | 302,799 | | | Due after ten years | 2,606 | | 2,385 | | 1,147,141 | | 908,585 | | | Total municipal, U.S. Treasury and other debt securities | 13,599 | | 11,446 | | 1,577,824 | | 1,305,754 | | | Residential mortgage-related securities: | | | | | | FNMA/FHLMC | 146,337 | | 134,464 | | 771,047 | | 598,700 | | | GNMA | 5,542,393 | | 5,352,106 | | 36,181 | | 31,634 | | | Private-label | — | | — | | 284,928 | | 224,916 | | | Commercial mortgage-related securities: | | | | | | FNMA/FHLMC | 369,363 | | 347,399 | | 752,924 | | 609,904 | | | GNMA | 111,099 | | 102,863 | | 39,316 | | 33,974 | | | Asset backed securities: | | | | | | FFELP | 86,587 | | 86,048 | | — | | — | | | SBA | 174,150 | | 164,502 | | — | | — | | | | | | | | Total investment securities | $ | 6,443,528 | | $ | 6,198,828 | | $ | 3,462,220 | | $ | 2,804,882 | | | Ratio of fair value to amortized cost | | 96.2 | % | | 81.0 | % |
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| Schedule of Realized Gain (Loss) [Table Text Block] |
The following table summarizes gross realized gains and losses on investment securities, the gain or loss on sale and fair value adjustment of equity securities, and proceeds from the sale of investment securities: | | | | | | | | | | | | | | | | Three Months Ended Sep 30, | Nine Months Ended Sep 30, | | (in thousands) | 2026 | 2025 | 2026 | 2025 | | | | | | | | | | | | | | | | | | | | | | Gross losses on HTM securities | $ | — | | $ | — | | $ | (4) | | $ | — | | | | | | | | Fair value adjustment of equity securities | (46) | | 1 | | (36) | | 13 | | | Investment securities (losses) gains, net | $ | (46) | | $ | 1 | | $ | (40) | | $ | 13 | | | | | | |
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| Schedule of Unrealized Loss on Investments [Table Text Block] |
The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at September 30, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | 12 months or more | Total | | (in thousands) | Number
of
Securities | Unrealized
Losses | Fair
Value | Number
of
Securities | Unrealized
Losses | Fair
Value | Unrealized
Losses | Fair
Value | | AFS investment securities | | | | | | | | | | | | | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | 8 | | $ | (441) | | $ | 6,158 | | 1 | | $ | (16) | | $ | 234 | | $ | (457) | | $ | 6,392 | | | Residential mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 62 | | (4,607) | | 84,740 | | 8 | | (7,372) | | 44,429 | | (11,979) | | 129,169 | | | GNMA | 384 | | (190,401) | | 5,247,698 | | 3 | | (203) | | 2,669 | | (190,604) | | 5,250,367 | | | | | | | | | | | | Commercial mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 9 | | (20,066) | | 331,626 | | 1 | | (1,898) | | 15,773 | | (21,964) | | 347,399 | | | GNMA | — | | — | | — | | 15 | | (8,236) | | 102,864 | | (8,236) | | 102,864 | | | Asset backed securities: | | | | | | | | | | FFELP | 1 | | (34) | | 5,618 | | 12 | | (539) | | 50,269 | | (573) | | 55,887 | | | SBA | 9 | | (9,641) | | 164,402 | | 2 | | (7) | | 99 | | (9,648) | | 164,501 | | Other debt securities(a) | 3 | | (1,696) | | 4,054 | | — | | — | | — | | (1,696) | | 4,054 | | | | | | | | | | | | Total | 476 | | $ | (226,886) | | $ | 5,844,296 | | 42 | | $ | (18,271) | | $ | 216,337 | | $ | (245,157) | | $ | 6,060,633 | | | HTM investment securities | | | | | | | | | | U.S. Treasury securities | 1 | | $ | (4) | | $ | 994 | | — | | $ | — | | $ | — | | $ | (4) | | $ | 994 | | | Obligations of state and political subdivisions (municipal securities) | 636 | | $ | (68,956) | | $ | 755,193 | | 408 | | $ | (203,154) | | $ | 539,761 | | $ | (272,110) | | $ | 1,294,954 | | | Residential mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 21 | | (1,262) | | 20,955 | | 99 | | (171,085) | | 577,745 | | (172,347) | | 598,700 | | | GNMA | 7 | | (555) | | 7,473 | | 78 | | (3,992) | | 24,161 | | (4,547) | | 31,634 | | | Private-label | — | | — | | — | | 18 | | (60,012) | | 224,916 | | (60,012) | | 224,916 | | | Commercial mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 2 | | (1,985) | | 24,674 | | 43 | | (141,035) | | 585,230 | | (143,020) | | 609,904 | | | GNMA | — | | — | | — | | 13 | | (5,342) | | 33,974 | | (5,342) | | 33,974 | | | Total | 667 | | $ | (72,762) | | $ | 809,289 | | 659 | | $ | (584,620) | | $ | 1,985,787 | | $ | (657,382) | | $ | 2,795,076 | |
(a)Unrealized losses includes allowance for credit losses For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | 12 months or more | Total | | (in thousands) | Number
of
Securities | Unrealized
Losses | Fair
Value | Number
of
Securities | Unrealized
Losses | Fair
Value | Unrealized
Losses | Fair
Value | | AFS investment securities | | | | | | | | | | | | | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | — | | $ | — | | $ | — | | 2 | | $ | (20) | | $ | 863 | | $ | (20) | | $ | 863 | | | Residential mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 12 | | (95) | | 14,155 | | 12 | | (5,398) | | 56,215 | | (5,493) | | 70,370 | | | GNMA | 16 | | (232) | | 143,734 | | 3 | | (21) | | 2,674 | | (253) | | 146,408 | | | | | | | | | | | | Commercial mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | — | | — | | — | | 1 | | (1,001) | | 16,958 | | (1,001) | | 16,958 | | | GNMA | — | | — | | — | | 15 | | (3,818) | | 109,556 | | (3,818) | | 109,556 | | | Asset backed securities: | | | | | | | | | | FFELP | 2 | | (152) | | 33,239 | | 12 | | (798) | | 55,565 | | (950) | | 88,804 | | | SBA | — | | — | | — | | 2 | | (14) | | 231 | | (14) | | 231 | | | Other debt securities | 2 | | (2) | | 1,998 | | — | | — | | — | | (2) | | 1,998 | | | | | | | | | | | | Total | 32 | | $ | (481) | | $ | 193,126 | | 47 | | $ | (11,070) | | $ | 242,062 | | $ | (11,551) | | $ | 435,188 | | | HTM investment securities | | | | | | | | | | | | | | | | | | | Obligations of state and political subdivisions (municipal securities) | 81 | | $ | (2,978) | | $ | 89,826 | | 543 | | $ | (120,878) | | $ | 842,485 | | $ | (123,856) | | $ | 932,311 | | | Residential mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 1 | | — | | 30 | | 102 | | (127,333) | | 676,915 | | (127,333) | | 676,945 | | | GNMA | — | | — | | — | | 80 | | (2,321) | | 30,237 | | (2,321) | | 30,237 | | | Private-label | — | | — | | — | | 18 | | (43,990) | | 258,827 | | (43,990) | | 258,827 | | | Commercial mortgage-related securities: | | | | | | | | | | FNMA/FHLMC | 2 | | (470) | | 26,287 | | 43 | | (112,534) | | 624,079 | | (113,004) | | 650,366 | | | GNMA | — | | — | | — | | 13 | | (4,566) | | 40,138 | | (4,566) | | 40,138 | | | Total | 84 | | $ | (3,448) | | $ | 116,143 | | 799 | | $ | (411,622) | | $ | 2,472,681 | | $ | (415,070) | | $ | 2,588,824 | |
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