Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

Credit Loss [Abstract]

Schedule of Aging of the Company's Loan Portfolio

The tables below show the aging of the Company’s loan portfolio by the segmentation noted above at September 30, 2025, December 31, 2024 and September 30, 2024:

As of September 30, 2025			90+ days and still accruing		60-89 days past due		30-59 days past due
(In thousands)	Nonaccrual								Current		Total Loans
Loan Balances (includes PCD):
Commercial	$	66,577	$	—	$	12,190	$	36,136	$	16,429,439	$	16,544,342
Commercial real estate
Construction and development	3,227		—		630		40,276		2,614,020		2,658,153
Non-construction	24,975		—		13,489		42,779		10,879,811		10,961,054
Home equity	1,295		—		246		2,294		480,367		484,202
Residential real estate, excluding early buy-out loans	28,942		—		8,829		95		3,981,180		4,019,046
Premium finance receivables—property & casualty	24,512		13,006		23,527		38,133		8,267,114		8,366,292
Premium finance receivables—life insurance	—		—		34,016		34,506		8,690,031		8,758,553
Consumer and other	38		60		49		159		146,710		147,016
Total loans, net of unearned income, excluding early buy-out loans	$	149,566	$	13,066	$	92,976	$	194,378	$	51,488,672	$	51,938,658
Early buy-out loans guaranteed by U.S. government agencies (1)	—		47,374		—		—		77,450		124,824
Total loans, net of unearned income	$	149,566	$	60,440	$	92,976	$	194,378	$	51,566,122	$	52,063,482

As of December 31, 2024			90+ days and still accruing		60-89 days past due		30-59 days past due
(In thousands)	Nonaccrual								Current		Total Loans
Loan Balances (includes PCD):
Commercial	$	73,490	$	104	$	54,844	$	92,551	$	15,353,562	$	15,574,551
Commercial real estate
Construction and development	2,282		—		1,339		4,634		2,425,826		2,434,081
Non-construction	18,760		—		9,182		26,132		10,415,789		10,469,863
Home equity	1,117		—		1,233		2,148		440,530		445,028
Residential real estate, excluding early buy-out loans	23,762		—		5,708		18,917		3,407,622		3,456,009
Premium finance receivables—property & casualty	28,797		16,031		19,042		68,219		7,139,953		7,272,042
Premium finance receivables—life insurance	6,431		—		72,963		36,405		8,031,346		8,147,145
Consumer and other	2		47		59		882		98,572		99,562
Total loans, net of unearned income, excluding early buy-out loans	$	154,641	$	16,182	$	164,370	$	249,888	$	47,313,200	$	47,898,281
Early buy-out loans guaranteed by U.S. government agencies (1)	—		33,952		618		2,335		119,851		156,756
Total loans, net of unearned income	$	154,641	$	50,134	$	164,988	$	252,223	$	47,433,051	$	48,055,037

(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

As of September 30, 2024			90+ days and still accruing		60-89 days past due		30-59 days past due
(In thousands)	Nonaccrual								Current		Total Loans
Loan Balances (includes PCD):
Commercial	$	63,826	$	20	$	32,560	$	46,057	$	15,105,230	$	15,247,693
Commercial real estate
Construction and development	2,284		—		757		1,798		2,398,851		2,403,690
Non-construction	39,787		225		12,682		46,548		10,290,485		10,389,727
Home equity	1,122		—		1,035		2,580		422,306		427,043
Residential real estate, excluding early buy-out loans	17,959		—		6,364		2,160		3,226,166		3,252,649
Premium finance receivables—property & casualty	36,079		18,235		18,740		30,204		7,028,423		7,131,681
Premium finance receivables—life insurance	—		—		10,902		74,432		7,911,565		7,996,899
Consumer and other	2		148		22		264		82,240		82,676
Total loans, net of unearned income, excluding early buy-out loans	$	161,059	$	18,628	$	83,062	$	204,043	$	46,465,266	$	46,932,058
Early buy-out loans guaranteed by U.S. government agencies (1)	—		43,358		150		—		91,881		135,389
Total loans, net of unearned income	$	161,059	$	61,986	$	83,212	$	204,043	$	46,557,147	$	47,067,447

(1)Early buy-out loans are insured or guaranteed by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs, subject to indemnifications and insurance limits for certain loans.

Schedule of Loan Portfolio by Credit Quality Indicator

The table below shows the Company’s loan portfolio by credit quality indicator and year of origination at September 30, 2025:

	Year of Origination														Revolving		Total
(In thousands)	2025		2024		2023		2022		2021		Prior		Revolving		to Term		Loans
Loan Balances:
Commercial
Pass	$	2,829,487	$	2,846,915	$	1,744,488	$	1,266,672	$	831,328	$	1,108,613	$	5,310,722	$	40,053	$	15,978,278
Special mention	11,668		41,624		46,403		18,943		31,703		38,400		128,153		360		317,254
Substandard accrual	2,436		16,847		26,199		39,289		35,639		22,204		38,008		1,611		182,233
Substandard nonaccrual/doubtful	951		4,454		7,778		36,977		10,359		3,906		900		1,252		66,577
Total commercial, industrial and other	$	2,844,542	$	2,909,840	$	1,824,868	$	1,361,881	$	909,029	$	1,173,123	$	5,477,783	$	43,276	$	16,544,342
Construction and development
Pass	$	207,055	$	736,531	$	619,287	$	604,281	$	73,736	$	107,992	$	15,039	$	894	$	2,364,815
Special mention	—		—		29,645		194,759		17,908		15,800		—		—		258,112
Substandard accrual	—		—		12,656		—		—		15,445		3,898		—		31,999
Substandard nonaccrual/doubtful	—		—		1,001		1,321		—		905		—		—		3,227
Total construction and development	$	207,055	$	736,531	$	662,589	$	800,361	$	91,644	$	140,142	$	18,937	$	894	$	2,658,153
Non-construction
Pass	$	1,436,193	$	1,313,159	$	1,314,216	$	1,748,779	$	1,290,468	$	3,262,179	$	225,790	$	1,692	$	10,592,476
Special mention	2,080		1,189		63,480		17,694		29,072		35,492		1,414		—		150,421
Substandard accrual	—		18,799		1,256		68,472		51,608		52,211		836		—		193,182
Substandard nonaccrual/doubtful	—		—		1,605		305		—		23,065		—		—		24,975
Total non-construction	$	1,438,273	$	1,333,147	$	1,380,557	$	1,835,250	$	1,371,148	$	3,372,947	$	228,040	$	1,692	$	10,961,054
Home equity
Pass	$	—	$	236	$	68	$	353	$	291	$	13,067	$	446,524	$	8,237	$	468,776
Special mention	—		42		—		402		—		2,303		6,187		—		8,934
Substandard accrual	—		—		15		19		98		2,979		2,086		—		5,197
Substandard nonaccrual/doubtful	—		—		—		88		132		1,075		—		—		1,295
Total home equity	$	—	$	278	$	83	$	862	$	521	$	19,424	$	454,797	$	8,237	$	484,202
Residential real estate
Early buy-out loans guaranteed by U.S. government agencies	$	192	$	4,551	$	7,545	$	5,280	$	6,229	$	101,027	$	—	$	—	$	124,824
Pass	833,494		795,118		427,935		762,583		719,435		420,044		—		—		3,958,609
Special mention	—		2,027		5,793		4,745		1,808		6,822		—		—		21,195

Substandard accrual	60		136		913		3,799		1,833		3,559		—		—		10,300
Substandard nonaccrual/doubtful	—		1,214		5,463		7,772		6,475		8,018		—		—		28,942
Total residential real estate	$	833,746	$	803,046	$	447,649	$	784,179	$	735,780	$	539,470	$	—	$	—	$	4,143,870
Premium finance receivables - property and casualty
Pass	$	8,030,161	$	180,763	$	3,906	$	1,113	$	1,268	$	—	$	—	$	—	$	8,217,211
Special mention	102,653		4,466		9		—		—		—		—		—		107,128
Substandard accrual	15,393		2,044		—		3		1		—		—		—		17,441
Substandard nonaccrual/doubtful	13,542		10,941		25		3		1		—		—		—		24,512
Total premium finance receivables - property and casualty	$	8,161,749	$	198,214	$	3,940	$	1,119	$	1,270	$	—	$	—	$	—	$	8,366,292
Premium finance receivables - life (1)
Pass	$	437,422	$	720,916	$	541,345	$	711,083	$	1,057,431	$	5,290,356	$	—	$	—	$	8,758,553
Special mention	—		—		—		—		—		—		—		—		—
Substandard accrual	—		—		—		—		—		—		—		—		—
Substandard nonaccrual/doubtful	—		—		—		—		—		—		—		—		—
Total premium finance receivables - life	$	437,422	$	720,916	$	541,345	$	711,083	$	1,057,431	$	5,290,356	$	—	$	—	$	8,758,553
Consumer and other
Pass	$	5,180	$	2,524	$	1,858	$	330	$	622	$	63,148	$	72,998	$	—	$	146,660
Special mention	25		38		32		81		—		109		12		—		297
Substandard accrual	—		2		—		—		—		14		5		—		21
Substandard nonaccrual/doubtful	—		2		—		—		—		36		—		—		38
Total consumer and other	$	5,205	$	2,566	$	1,890	$	411	$	622	$	63,307	$	73,015	$	—	$	147,016
Total loans
Early buy-out loans guaranteed by U.S. government agencies	$	192	$	4,551	$	7,545	$	5,280	$	6,229	$	101,027	$	—	$	—	$	124,824
Pass	13,778,992		6,596,162		4,653,103		5,095,194		3,974,579		10,265,399		6,071,073		50,876		50,485,378
Special mention	116,426		49,386		145,362		236,624		80,491		98,926		135,766		360		863,341
Substandard accrual	17,889		37,828		41,039		111,582		89,179		96,412		44,833		1,611		440,373
Substandard nonaccrual/doubtful	14,493		16,611		15,872		46,466		16,967		37,005		900		1,252		149,566
Total loans	$	13,927,992	$	6,704,538	$	4,862,921	$	5,495,146	$	4,167,445	$	10,598,769	$	6,252,572	$	54,099	$	52,063,482
Gross write offs
Three months ended September 30, 2025	$	7,305	$	494	$	1,457	$	4,748	$	12,046	$	2,796	$	—	$	—	$	28,846
Nine months ended September 30, 2025	$	8,709	$	15,297	$	5,246	$	8,129	$	14,193	$	13,216	$	—	$	—	$	64,790

(1)For premium finance receivables - life, the year of origination represents when the borrower’s master loan agreement was initially established.

Schedule of Held-to-Maturity Debt Securities by Credit Quality Indicator

For purposes of the table below, the Company has converted any issuer rating from an NRSRO into the Company’s internal ratings based on Investment Policy and review by the Company’s management.

As of September 30, 2025	Year of Origination												Total
(In thousands)	2025		2024		2023		2022		2021		Prior		Balance
Amortized Cost Balances:
U.S. government agencies
1-4 internal grade	$	—	$	—	$	—	$	135,000	$	147,827	$	30,713	$	313,540
5-7 internal grade	—		—		—		—		—		—		—
8-10 internal grade	—		—		—		—		—		—		—
Total U.S. government agencies	$	—	$	—	$	—	$	135,000	$	147,827	$	30,713	$	313,540
Municipal
1-4 internal grade	$	—	$	—	$	4,092	$	1,028	$	6,742	$	141,784	$	153,646
5-7 internal grade	—		—		—		—		—		2,124		2,124
8-10 internal grade	—		—		—		—		—		—		—
Total municipal	$	—	$	—	$	4,092	$	1,028	$	6,742	$	143,908	$	155,770
Mortgage-backed securities
1-4 internal grade	$	—	$	—	$	296,804	$	496,580	$	2,125,596	$	—	$	2,918,980
5-7 internal grade	—		—		—		—		—		—		—
8-10 internal grade	—		—		—		—		—		—		—
Total mortgage-backed securities	$	—	$	—	$	296,804	$	496,580	$	2,125,596	$	—	$	2,918,980
Corporate notes
1-4 internal grade	$	—	$	—	$	—	$	14,972	$	—	$	35,539	$	50,511
5-7 internal grade	—		—		—		—		—		—		—
8-10 internal grade	—		—		—		—		—		—		—
Total corporate notes	$	—	$	—	$	—	$	14,972	$	—	$	35,539	$	50,511
Total held-to-maturity securities													$	3,438,801
Less: Allowance for credit losses													(395)
Held-to-maturity securities, net of allowance for credit losses													$	3,438,406

Schedule of Allowance for Credit Losses

As significant judgment is required, the review of the appropriateness of the allowance for credit losses is performed quarterly by various committees with participation by the Company's executive management.

	September 30,		December 31,		September 30,
(In thousands)	2025		2024		2024
Allowance for loan losses	$	386,622	$	364,017	$	360,279
Allowance for unfunded lending-related commitments losses	67,569		72,586		75,435
Allowance for loan losses and unfunded lending-related commitments losses	454,191		436,603		435,714
Allowance for held-to-maturity securities losses	395		457		479
Allowance for credit losses	$	454,586	$	437,060	$	436,193

Schedule of Activity in the Allowance for Credit Losses by Loan Portfolio

A summary of activity in the allowance for credit losses, specifically for the loan portfolio (i.e. allowance for loan losses and allowance for unfunded commitment losses), for the three and nine months ended September 30, 2025 and September 30, 2024 is as follows:

Three months ended September 30, 2025			Commercial Real Estate		Home  Equity		Residential Real Estate		Premium Finance Receivables		Consumer and Other		Total Loans
(In thousands)	Commercial
Allowance for credit losses at beginning of period	$	194,568	$	224,358	$	9,221	$	11,455	$	16,612	$	849	$	457,063
Other adjustments	—		—		—		—		(88)		—		(88)
Charge-offs	(21,597)		(144)		(27)		(26)		(6,878)		(174)		(28,846)
Recoveries	1,449		241		104		1		2,459		37		4,291
Provision for credit losses - Other	15,056		6,022		(69)		583		(156)		335		21,771
Allowance for credit losses at period end	$	189,476	$	230,477	$	9,229	$	12,013	$	11,949	$	1,047	$	454,191
By measurement method:
Individually measured	$	29,747	$	9,688	$	—	$	60	$	—	$	3	$	39,498
Collectively measured	159,729		220,789		9,229		11,953		11,949		1,044		414,693
Loans at period end
Individually measured	$	66,576	$	28,203	$	1,295	$	28,854	$	—	$	38	$	124,966
Collectively measured	16,477,766		13,591,004		482,907		3,985,423		17,124,845		146,978		51,808,923
Loans held at fair value	—		—		—		129,593		—				129,593

Three months ended September 30, 2024	Commercial		Commercial Real Estate		Home  Equity		Residential Real Estate		Premium Finance Receivables		Consumer and Other		Total Loans
(In thousands)
Allowance for credit losses at beginning of period	$	181,991	$	223,728	$	7,242	$	8,773	$	14,746	$	589	$	437,069
Other adjustments	—		—		—		—		30		—		30
Charge-offs	(22,975)		(95)		—		—		(7,794)		(154)		(31,018)
Recoveries	649		30		101		5		3,477		21		4,283
Provision for credit losses - Other	7,128		(4,162)		134		268		3,284		147		6,799
Provision for credit losses - Day 1 on non-PCD assets acquired during the period	2,967		10,540		1,344		638		—		58		15,547
Initial allowance for credit losses recognized on PCD assets acquired during the period	1,838		1,103		2		61		—		—		3,004
Allowance for credit losses at period end	$	171,598	$	231,144	$	8,823	$	9,745	$	13,743	$	661	$	435,714
By measurement method:
Individually measured	$	21,573	$	5,958	$	50	$	48	$	—	$	1	$	27,630
Collectively measured	150,025		225,186		8,773		9,697		13,743		660		408,084
Loans at period end
Individually measured	$	63,826	$	42,071	$	1,122	$	17,565	$	—	$	2	$	124,586
Collectively measured	15,183,867		12,751,346		425,921		3,232,435		15,128,580		82,674		46,804,823
Loans held at fair value	—		—		—		138,038		—		—		138,038

Nine months ended September 30, 2025			Commercial Real Estate		Home  Equity		Residential Real Estate		Premium Finance Receivables		Consumer and Other		Total Loans
(In thousands)	Commercial
Allowance for credit losses at beginning of period	$	175,837	$	222,856	$	8,943	$	10,335	$	17,820	$	812	$	436,603
Other adjustments	—		—		—		—		96		—		96
Charge-offs	(37,467)		(6,309)		(138)		(26)		(20,350)		(500)		(64,790)
Recoveries	4,124		263		350		139		9,281		98		14,255
Provision for credit losses - Other	46,982		13,667		74		1,565		5,102		637		68,027
Allowance for credit losses at period end	$	189,476	$	230,477	$	9,229	$	12,013	$	11,949	$	1,047	$	454,191

Nine months ended September 30, 2024			Commercial Real Estate		Home  Equity		Residential Real Estate		Premium Finance Receivables		Consumer and Other		Total Loans
(In thousands)	Commercial
Allowance for credit losses at beginning of period	$	169,604	$	223,853	$	7,116	$	13,133	$	13,069	$	490	$	427,265
Other adjustments	—		—		—		—		(20)		—		(20)
Charge-offs	(43,774)		(21,090)		(74)		(61)		(24,218)		(398)		(89,615)
Recoveries	2,078		151		165		15		8,667		68		11,144
Provision for credit losses - Other	38,885		16,587		270		(4,041)		16,245		443		68,389
Provision for credit losses - Day 1 on non-PCD assets acquired during the period	2,967		10,540		1,344		638		—		58		15,547
Initial allowance for credit losses recognized on PCD assets acquired during the period	1,838		1,103		2		61		—		—		3,004
Allowance for credit losses at period end	$	171,598	$	231,144	$	8,823	$	9,745	$	13,743	$	661	$	435,714

Schedule of Modification of Loans

The tables below presents a summary of the period-end balance of loans to borrowers experiencing financial difficulties during the three and nine months ended September 30, 2025 and 2024:

Three Months Ended September 30, 2025 (Dollars in thousands)	Total		Percentage of Total Class of Loan		Extension of Term		Reduction of  Interest Rate		Interest Only Payments		Delay in Contractual Payments		Extension of Term and Reduction of Interest Rate
Commercial	$	4,791	0.1	%	$	4,464	$	—	$	—	$	—	$	327
Commercial real estate
Construction and development	—		—		—		—		—		—		—
Non-construction	196		0.0		196		—		—		—		—
Home equity	—		—		—		—		—		—		—
Residential real estate	392		0.0		287		—		—		—		105
Premium finance receivables—property & casualty	—		—		—		—		—		—		—
Total loans	$	5,379	0.0	%	$	4,947	$	—	$	—	$	—	$	432

			Weighted Average Magnitude of Modifications:
Three Months Ended September 30, 2025  (Dollars in thousands)	Total		Duration of Extension of Term (months)	Reduction of  Interest Rate (bps)	Duration of Delay in Contractual Payments (months)
Commercial	$	4,791	6	190	—
Commercial real estate
Construction and development	—		—	—	—
Non-construction	196		6	—	—
Home equity	—		—	—	—
Residential real estate	392		11	90	—
Premium finance receivables—property & casualty	—		—	—	—
Total loans	$	5,379	7	166	—

Three Months Ended September 30, 2024 (Dollars in thousands)	Total		Percentage of Total Class of Loan		Extension of Term		Reduction of  Interest Rate		Interest Only Payments		Delay in Contractual Payments		Extension of Term and Reduction of Interest Rate
Commercial	$	1,469	0.0	%	$	1,240	$	42	$	17	$	—	$	170
Commercial real estate - Non-construction	192		0.0		192		—		—		—		—
Residential real estate	—		—		—		—		—		—		—
Premium finance receivables—property & casualty	1,548		0.0		30		1,457		—		—		61
Total loans	$	3,209	0.0	%	$	1,462	$	1,499	$	17	$	—	$	231

			Weighted Average Magnitude of Modifications:
Three Months Ended September 30, 2024 (Dollars in thousands)	Total		Duration of Extension of Term (months)	Reduction of  Interest Rate (bps)	Duration of Delay in Contractual Payments (months)
Commercial	$	1,469	27	—	—
Commercial real estate - Non-construction	192		6	—	—
Residential real estate	—		—	—	—
Premium finance receivables—property & casualty	1,548		4	—	—
Total loans	$	3,209	9	—	—

Nine Months Ended September 30, 2025 (Dollars in thousands)	Total		Percentage of Total Class of Loan		Extension of Term		Reduction of  Interest Rate		Interest Only Payments		Delay in Contractual Payments		Extension of Term and Reduction of Interest Rate
Commercial	$	15,370	0.2	%	$	14,917	$	9	$	—	$	—	$	444
Commercial real estate
Construction and development	—		—		—		—		—		—		—
Non-construction	196		0.0		196		—		—		—		—
Home equity	—		—		—		—		—		—		—
Residential real estate	1,524		0.0		447		276		—		—		801
Premium finance receivables—property & casualty	865		0.0		865		—		—		—		—
Total loans	$	17,955	0.0		$	16,425	$	285	$	—	$	—	$	1,245

			Weighted Average Magnitude of Modifications:
Nine Months Ended September 30, 2025 (Dollars in thousands)	Total		Duration of Extension of Term (months)	Reduction of  Interest Rate (bps)	Duration of Delay in Contractual Payments (months)
Commercial	$	15,370	7	155	—
Commercial real estate
Construction and development	—		—	—	—
Non-construction	196		6	—	—
Home equity	—		—	—	—
Residential real estate	1,524		11	148	—
Premium finance receivables—property & casualty	865		12	—	—
Total loans	$	17,955	8	150	—

Nine Months Ended September 30, 2024 (Dollars in thousands)	Total		Percentage of Total Class of Loan		Extension of Term		Reduction of  Interest Rate		Interest Only Payments		Delay in Contractual Payments		Extension of Term and Reduction of Interest Rate
Commercial	$	4,687	0.0	%	$	4,195	$	42	$	17	$	97	$	336
Commercial real estate - Non-construction	1,662		0.0		486		—		319		857		—
Home equity	89		0.0		89		—		—		—		—
Residential real estate	282		0.0		114		168		—		—		—
Premium finance receivables—property & casualty	1,554		0.0		33		1,460		—		—		61
Total loans	$	8,274	0.0	%	$	4,917	$	1,670	$	336	$	954	$	397

			Weighted Average Magnitude of Modifications:
Nine months ended September 30, 2024 (Dollars in thousands)	Total		Duration of Extension of Term (months)	Reduction of  Interest Rate (bps)		Duration of Delay in Contractual Payments (months)
Commercial	$	4,687	35	113		34
Commercial real estate - Non-construction	1,662		29	—		16
Home equity	89		12	—		—
Residential real estate	282		19	201		—
Premium finance receivables—property & casualty	$	1,554	6	86		$	—
Total loans	$	8,274	9	$	156	18

Schedule of Loans for Borrowers Experiencing Financial Difficulties Modified

The following table presents a summary of all modified loans for borrowers experiencing financial difficulties and such loans that were in payment default under the restructured terms during the respective periods below:

(Dollars in thousands)	For the Twelve Months Ended September 30, 2025		Three Months Ended September 30, 2025		Nine Months Ended September 30, 2025		For the Twelve Months Ended September 30, 2024		Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024
	Total		Payments in Default  (1)		Payments in  Default  (1)		Total		Payments in  Default  (1)		Payments in  Default  (1)
Commercial	$	20,725	$	28	$	142	$	6,757	$	42	$	1,826
Commercial real estate
Construction and development	—		—		—		2,504		—		—
Non-construction	243		196		196		2,933		—		923
Home equity	—		—		—		588		—		203
Residential real estate	1,524		224		920		282		—		541
Premium finance receivables—property & casualty	865		—		865		1,632		47		61
Total loans	$	23,357	$	448	$	2,123	$	14,696	$	89	$	3,554

(1)Modified loans considered to be in payment default are over 30 days past due subsequent to the restructuring.