v3.26.3
Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented:
September 30, 2026
(In thousands)TotalLevel 1Level 2Level 3
Available-for-sale securities
U.S. Treasury$3,000 $3,000 $— $— 
U.S. government agencies43,831 — 43,831 — 
Municipal164,324 — 44,648 119,676 
Corporate notes 74,018 — 74,018 — 
Mortgage-backed7,284,325 — 7,284,325 — 
Equity securities with readily determinable fair value64,811 56,745 8,066 — 
Mortgage loans held-for-sale307,748 — 255,022 52,726 
Loans held-for-investment145,750 — 95,227 50,523 
MSRs238,485 — — 238,485 
Nonqualified deferred compensation assets18,867 — 18,867 — 
Derivative assets205,591 — 204,775 816 
Total$8,550,750 $59,745 $8,028,779 $462,226 
Derivative liabilities$375,745 $— $375,745 $— 

December 31, 2025
(In thousands)TotalLevel 1Level 2Level 3
Available-for-sale securities
U.S. Treasury$7,035 $7,035 $— $— 
U.S. government agencies47,471 — 47,471 — 
Municipal162,166 — 62,563 99,603 
Corporate notes 77,295 — 77,295 — 
Mortgage-backed5,942,296 — 5,942,296 — 
Equity securities with readily determinable fair value63,770 55,704 8,066 — 
Mortgage loans held-for-sale340,745 — 286,931 53,814 
Loans held-for-investment151,590 — 95,390 56,200 
MSRs195,023 — — 195,023 
Nonqualified deferred compensation assets18,112 — 18,112 — 
Derivative assets179,667 — 176,251 3,416 
Total$7,185,170 $62,739 $6,714,375 $408,056 
Derivative liabilities$123,774 $— $123,774 $— 

September 30, 2025
(In thousands)TotalLevel 1Level 2Level 3
Available-for-sale securities
U.S. Treasury$8,036 $8,036 $— $— 
U.S. government agencies46,511 — 46,511 — 
Municipal194,244 — 64,450 129,794 
Corporate notes 80,372 — 80,372 — 
Mortgage-backed4,944,961 — 4,944,961 — 
Equity securities with readily determinable fair value63,445 55,379 8,066 — 
Mortgage loans held-for-sale333,883 — 279,157 54,726 
Loans held-for-investment129,593 — 80,373 49,220 
MSRs190,938 — — 190,938 
Nonqualified deferred compensation assets17,902 — 17,902 — 
Derivative assets208,957 — 201,808 7,149 
Total$6,218,842 $63,415 $5,723,600 $431,827 
Derivative liabilities$141,705 $— $141,705 $— 
Schedule of Changes In Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
The changes in Level 3 assets measured at fair value on a recurring basis during the three and nine months ended September 30, 2026 and 2025 are summarized as follows:
Mortgage loans held-for-saleLoans held-for- investmentMortgage
servicing rights		Derivative assets
(In thousands)Municipal
Balance at June 30, 2026
$123,703 $47,589 $56,001 $201,903 $5,103 
Total net (losses) gains included in:
Net income (1)
— (299)(459)36,582 (4,287)
Other comprehensive income or loss(4,599)— — — — 
Purchases573 — — — — 
Settlements(1)(12,993)(17,105)— — 
Net transfers into Level 3
— 18,429 12,086 — — 
Balance at September 30, 2026$119,676 $52,726 $50,523 $238,485 $816 
Mortgage loans held-for-saleLoans held-for- investmentMortgage
servicing rights		Derivative assets
(In thousands)Municipal
Balance at June 30, 2025
$116,075 $27,168 $53,037 $193,061 $5,548 
Total net (losses) gains included in:
Net income (1)
— 82 (663)(2,123)1,601 
Other comprehensive income or loss(937)— — — — 
Purchases14,696 — — — — 
Settlements(40)(7,182)(11,810)— — 
Net transfers into Level 3— 34,658 8,656 — — 
Balance at September 30, 2025$129,794 $54,726 $49,220 $190,938 $7,149 
Mortgage loans held-for-saleLoans held-for- investmentMortgage
servicing rights		Derivative Assets
(In thousands)Municipal
Balance at December 31, 2025$99,603 $53,814 $56,200 $195,023 $3,416 
Total net (losses) gains included in:
Net income (1)
— (527)(309)43,462 (2,600)
Other comprehensive income or loss(9,160)— — — — 
Purchases37,934 — — — — 
Settlements(8,701)(47,531)(44,435)— — 
Net transfers into Level 3
— 46,970 39,067 — — 
Balance at September 30, 2026$119,676 $52,726 $50,523 $238,485 $816 
(1)Changes in the balance of mortgage loans held-for-sale, MSRs, and derivative assets related to fair value adjustments are recorded as components of mortgage banking revenue. Changes in the balance of loans held-for-investment related to fair value adjustments are recorded as other non-interest income.
Mortgage loans held-for-saleLoans held-for- investmentMortgage
servicing rights		Derivative Assets
(In thousands)Municipal
Balance at December 31, 2024$121,607 $60,399 $34,896 $203,788 $1,950 
Total net (losses) gains included in:
Net income (1)
— 1,534 173 (12,850)5,199 
Other comprehensive income or loss(8,368)— — — — 
Purchases29,978 — — — — 
Settlements(13,423)(76,602)(24,535)— — 
Net transfers into Level 3— 69,395 38,686 — — 
Balance at September 30, 2025$129,794 $54,726 $49,220 $190,938 $7,149 
(1)Changes in the balance of mortgage loans held-for-sale, MSRs and derivative assets related to fair value adjustments are recorded as components of mortgage banking revenue. Changes in the balance of loans held-for-investment related to fair value adjustments are recorded as other non-interest income.
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis For assets measured at fair value on a non-recurring basis that were still held in the balance sheet at the end of the period, the following table provides the carrying value of the related individual assets or portfolios at September 30, 2026:
September 30, 2026
Three Months Ended September 30, 2026
Fair Value Losses Recognized, net
Nine Months Ended September 30, 2026
Fair Value Losses Recognized, net
(In thousands)TotalLevel 1Level 2Level 3
Individually assessed loans - foreclosure probable and collateral-dependent$125,970 $— $— $125,970 $19,510 $47,248 
Other real estate owned16,404 — — 16,404 — — 
Total$142,374 $— $— $142,374 $19,510 $47,248 
Schedule of Valuation Techniques and Significant Unobservable Inputs Used to Measure Both Recurring and Non Recurring
The valuation techniques and significant unobservable inputs used to measure both recurring and non-recurring Level 3 fair value measurements at September 30, 2026 were as follows:
(Dollars in thousands)Fair ValueValuation MethodologySignificant Unobservable InputInput / Range of InputsWeighted
Average
of Inputs		Impact to valuation
from an increased or
higher input value
Measured at fair value on a recurring basis:
Municipal securities$119,676 Bond pricingEquivalent ratingBBB-AA+N/AIncrease
Mortgage loans held-for-sale52,726 Discounted cash flowsDiscount rate
6.41%
6.41%Decrease
Credit discount
0.00% - 29.73%
0.66%Decrease
Loans held-for-investment50,523 Discounted cash flowsDiscount rate
6.41% - 7.38%
6.46%Decrease
Credit discount
0.00% - 37.98%
1.78%Decrease
Constant prepayment rate (CPR) - current loans
7.56%
7.56%Decrease
Average life - delinquent loans (in years)
1.2 years - 12.3 years
5.3 yearsDecrease
MSRs238,485 Discounted cash flowsDiscount rate
9.00% - 13.00%
9.82%Decrease
Constant prepayment rate (CPR)
5.78% - 100.00%
7.56%Decrease
Cost of servicing
$70 - $95
$76 Decrease
Cost of servicing - delinquent
$200 - $1,000
$375 Decrease
Derivatives816 Discounted cash flowsPull-through rate
19.55% - 100%
87.89 %Increase
Measured at fair value on a non-recurring basis:
Individually assessed loans - foreclosure probable and collateral-dependent125,970 Appraisal valueAppraisal adjustment - cost of sale10.00%10.00%Decrease
Other real estate owned16,404 Appraisal valueAppraisal adjustment - cost of sale10.00%10.00%Decrease
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments The table below presents the carrying amounts and estimated fair values of the Company’s financial instruments as of the dates shown:
At September 30, 2026At December 31, 2025At September 30, 2025
CarryingFairCarryingFairCarryingFair
(In thousands)ValueValueValueValueValueValue
Financial Assets:
Cash and cash equivalents$635,657 $635,657 $467,938 $467,938 $565,469 $565,469 
Interest-bearing deposits with banks3,557,687 3,557,687 3,180,553 3,180,553 3,422,452 3,422,452 
Available-for-sale securities7,569,498 7,569,498 6,236,263 6,236,263 5,274,124 5,274,124 
Held-to-maturity securities3,120,503 2,393,520 3,343,905 2,785,147 3,438,406 2,860,970 
Equity securities with readily determinable fair value64,811 64,811 63,770 63,770 63,445 63,445 
FHLB and FRB stock, at cost296,171 296,171 291,881 291,881 282,755 282,755 
Mortgage loans held-for-sale, at fair value307,748 307,748 340,745 340,745 333,883 333,883 
Loans held-for-investment, at fair value145,750 145,750 151,590 151,590 129,593 129,593 
Loans held-for-investment, at amortized cost56,658,821 55,783,051 52,953,511 52,383,501 51,933,889 51,255,561 
Nonqualified deferred compensation assets18,867 18,867 18,112 18,112 17,902 17,902 
Derivative assets205,591 205,591 179,667 179,667 208,957 208,957 
Accrued interest receivable and other593,339 593,339 552,197 552,197 587,274 587,274 
Total financial assets$73,174,443 $71,571,690 $67,780,132 $66,651,364 $66,258,149 $65,002,385 
Financial Liabilities:
Non-maturity deposits$51,190,169 $51,190,169 $47,839,241 $47,839,241 $46,292,925 $46,292,925 
Deposits with stated maturities11,245,047 11,229,646 9,877,950 9,890,485 10,418,456 10,424,097 
FHLB advances3,450,680 3,443,200 3,451,309 3,472,538 3,151,309 3,185,090 
Other borrowings355,554 355,554 477,966 478,072 579,328 579,479 
Subordinated notes298,903 292,731 298,636 296,487 298,536 295,974 
Junior subordinated debentures253,566 253,515 253,566 253,591 253,566 253,591 
Derivative liabilities375,745 375,745 123,774 123,774 141,705 141,705 
Accrued interest payable62,219 62,219 62,884 62,884 69,453 69,453 
Total financial liabilities$67,231,883 $67,202,779 $62,385,326 $62,417,072 $61,205,278 $61,242,314