v3.26.3
FAIR VALUE DISCLOSURES OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present financial instruments carried at fair value as of September 30, 2026 and December 31, 2025 by level in the valuation hierarchy (as described above):
September 30, 2026
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $381,815 $— $381,815 
FNMA MBS— 2,908,667 — 2,908,667 
FHLMC MBS— 141,522 — 141,522 
GNMA MBS— 81,131 — 81,131 
GSE agency notes— 177,982 — 177,982 
Other assets— 203,870 7 203,877 
Total assets measured at fair value on a recurring basis$— $3,894,987 $7 $3,894,994 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $201,537 $1,687 $203,224 
Assets measured at fair value on a nonrecurring basis:
Other investments$— $— $6,077 $6,077 
Other real estate owned— — 11,846 11,846 
Loans held for sale— 21,386 — 21,386 
Total assets measured at fair value on a nonrecurring basis$— $21,386 $17,923 $39,309 
December 31, 2025
(Dollars in thousands)Quoted
Prices in
Active
Markets for
Identical
Asset
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Assets measured at fair value on a recurring basis:
Available-for-sale securities:
CMO$— $405,146 $— $405,146 
FNMA MBS— 2,785,407 — 2,785,407 
FHLMC MBS— 116,505 — 116,505 
GNMA MBS— 47,383 — 47,383 
GSE agency notes— 187,805 — 187,805 
Other assets— 145,425 80 145,505 
Total assets measured at fair value on a recurring basis$— $3,687,671 $80 $3,687,751 
Liabilities measured at fair value on a recurring basis:
Other liabilities$— $120,432 $5,429 $125,861 
Assets measured at fair value on a nonrecurring basis
Other investments$— $— $11,090 $11,090 
Other real estate owned— — 200 200 
Loans held for sale— 61,573 — 61,573 
Total assets measured at fair value on a nonrecurring basis$— $61,573 $11,290 $72,863 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The following tables provide a description of the valuation techniques and significant unobservable inputs for the Company's financial instruments classified as Level 3 as of September 30, 2026 and December 31, 2025:
(Dollars in thousands)September 30, 2026
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$6,077 Observed market comparable transactionsPeriod of observed transactions
June 2026
Other real estate owned11,846 Fair market value of collateralCosts to sell
4.0% - 20.0% (4.4%)
Other assets (Risk participation agreements purchased)7
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (239 bps)
LGD: 2%
Other liabilities (Risk participation agreements sold)28 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 160 - 350 bps (203 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)1,659 Discounted cash flowTiming of Visa litigation resolution
0.75 years or 2Q 2027
(Dollars in thousands)December 31, 2025
Financial InstrumentFair ValueValuation Technique(s)Unobservable InputRange
(Weighted Average)
Other investments$11,090 Observed market comparable transactionsPeriod of observed transactionsDecember 2025
Other real estate owned200 Fair market value of collateralCosts to sell
10.0%
Other assets (Risk participation agreements purchased)80
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 110 - 360 bps (281 bps)
LGD: 2%
Other liabilities (Risk participation agreements sold)122 
Credit Valuation Adjustment
CDS Spread and Loss Given Default (LGD)
CDS spread: 160 - 350 bps (202 bps)
LGD: 30%
Other liabilities (Financial derivative related to sales of certain Visa Class B shares)5,307 Discounted cash flowTiming of Visa litigation resolution
1.50 years or 2Q 2027
Schedule of Book Value and Estimated Fair Value of Financial Instruments
The book value and estimated fair value of the Company's financial instruments are as follows:
 
September 30, 2026December 31, 2025
(Dollars in thousands)Fair Value
Measurement		Book ValueFair ValueBook ValueFair Value
Financial assets:
Cash, cash equivalents, and restricted cashLevel 1$1,930,257 $1,930,257 $1,699,154 $1,699,154 
Investment securities available-for-saleLevel 23,691,117 3,691,117 3,542,246 3,542,246 
Investment securities held-to-maturity, netLevel 2925,722 770,479 968,331 879,066 
Other investmentsLevel 38,595 8,595 13,441 13,441 
Loans, held for saleLevel 221,386 21,386 61,573 61,573 
Loans and leases, net(1)
Level 313,457,002 13,433,401 13,082,027 13,171,197 
Stock in FHLB of PittsburghLevel 210,488 10,488 10,194 10,194 
Accrued interest receivableLevel 281,171 81,171 80,285 80,285 
Other assetsLevels 2, 3203,877 203,877 145,505 145,505 
Financial liabilities:
DepositsLevel 2$18,384,086 $18,366,376 $17,642,488 $17,631,304 
Borrowed fundsLevel 2304,369 277,333 302,682 288,470 
Standby letters of credit
Level 31,003 1,003 766 766 
Accrued interest payableLevel 220,216 20,216 19,646 19,646 
Other liabilitiesLevels 2, 3203,224 203,224 125,861 125,861 
 (1) Includes reverse mortgage loans.