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Business Segments
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company organizes its operations into three reportable operating segments: (1) Consumer and Business Banking; (2) Commercial Banking; and (3) Treasury and Other. These segments are defined based on customer type, the channels where customers are served, and the products and services provided. The chief operating decision maker (“CODM”) is the Chairman and Chief Executive Officer of the Company. The CODM regularly reviews the Company’s operating results to allocate resources and assess performance. Operating segment results are also based on the Company’s internal management reporting process, which reflects the allocations of certain balance sheet and income statement line items. The CODM uses certain performance measures such as segment net income and considers variances of actual results from forecast results on a quarterly basis when making decisions on resource allocations between segments. The segment information presented is not indicative of how the segments would perform if they operated as independent entities.

The Consumer and Business Banking segment primarily provides financial products and services to consumer and commercial customers through the Company’s domestic branch network and digital banking platforms. This segment offers consumer and commercial deposits, mortgage and home equity loans, and other products and services. It also originates commercial loans for small- and medium-sized enterprises through the Company’s branch network. Other products and services provided by this segment include wealth management, private banking, treasury management, interest rate risk hedging and foreign exchange services.
The Commercial Banking segment primarily generates commercial loan and deposit products. Commercial loan products include CRE lending, construction finance, commercial business lending, working capital lines of credit, trade finance, letters of credit, affordable housing lending, asset-based lending, asset-backed finance, project finance, equipment financing, and loan syndication. Commercial deposit products and other financial services include treasury management, foreign exchange services and interest rate and commodity risk hedging.

The remaining centralized functions, including the corporate treasury activities of the Company, tax credit investment activity, eliminations of inter-segment amounts, and centrally managed departments, have been aggregated and included in the Treasury and Other segment.

The Company utilizes an internal reporting process to measure the performance of the three operating segments within the Company. The Company’s internal reporting process consists of certain allocation methodologies for revenues and expenses, and the internal funds transfer pricing (“FTP”) process. The FTP process is formulated with the goal of encouraging loan and deposit growth that is consistent with the Company’s overall profitability objectives, as well as providing a reasonable and consistent basis for the measurement of business segment net interest margins and profitability. The FTP process charges a cost to fund loans (“FTP charges for loans”) and allocates credits for funds provided from deposits (“FTP credits for deposits”) using internal FTP rates. FTP charges for loans are determined based on a matched cost of funds, which is tied to the pricing and term characteristics of the loans. FTP credits for deposits are based on matched funding credit rates, which are tied to the implied or stated maturity of the deposits. FTP credits for deposits reflect the long-term value generated by the deposits. The net spread between the total internal FTP charges and credits is recorded as part of net interest income in the Treasury and Other segment. The corporate treasury function within the Treasury and Other segment is responsible for the Company’s liquidity and interest rate management and manages the corporate interest rate risk exposure. The Company’s internal FTP assumptions and methodologies are reviewed at least annually to ensure that the process is reflective of current market conditions.

Each segment’s net interest income represents the difference between actual interest earned on assets and interest incurred on liabilities of the segment, adjusted for funding charges or credits through the Company’s FTP process. Noninterest income and noninterest expense directly attributable to a business segment are assigned to that segment. Loan charge-offs and provision for credit losses are recorded to the segments, where the loans are recorded. Significant corporate overhead expenses incurred by centralized support areas in the Treasury and Other segment are allocated to the Consumer and Business Banking and Commercial Banking segments based on the segment’s estimated usage factors including, but not limited to, full-time equivalent employees, net interest income, and loan and deposit volume. Amortization of tax credit and CRA investments and certain types of administrative expenses are generally not allocated to segments.
The following tables present the operating results and other key financial measures for the individual operating segments as of and for the years ended December 31, 2025, 2024 and 2023:
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2025
Net interest income before provision for (reversal of) credit losses
$1,079,288 $1,028,314 $445,027 $2,552,629 
Noninterest income120,779 218,177 40,271 379,227 
Total revenue before provision for (reversal of) credit losses
1,200,067 1,246,491 485,298 2,931,856 
Provision for (reversal of) credit losses
26,044 152,085 (18,129)160,000 
Compensation and employee benefits240,500 246,303 131,950 618,753 
Other noninterest expense (1)
229,833 157,616 40,194 427,643 
Total noninterest expense470,333 403,919 172,144 1,046,396 
Segment income before income taxes
703,690 690,487 331,283 1,725,460 
Segment net income$502,687 $493,508 $328,993 $1,325,188 
Average balances:
Loans$20,313,671 $34,000,936 $310,352 $54,624,959 
Deposits$33,384,458 $27,137,950 $4,326,953 $64,849,361 
As of December 31, 2025
Segment assets$21,384,121 $37,393,886 $21,656,990 $80,434,997 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2024
Net interest income before provision for (reversal of) credit losses
$1,152,033 $1,125,931 $752 $2,278,716 
Noninterest income108,773 197,780 28,665 335,218 
Total revenue before provision for (reversal of) credit losses
1,260,806 1,323,711 29,417 2,613,934 
Provision for (reversal of) credit losses
8,691 166,953 (1,644)174,000 
Compensation and employee benefits217,612 234,240 98,882 550,734 
Other noninterest expense (1)
234,494 161,969 10,876 407,339 
Total noninterest expense452,106 396,209 109,758 958,073 
Segment income (loss) before income taxes800,009 760,549 (78,697)1,481,861 
Segment net income$563,218 $535,652 $66,716 $1,165,586 
Average balances:
Loans$18,966,662 $32,996,221 $405,897 $52,368,780 
Deposits$30,815,912 $25,820,956 $3,036,171 $59,673,039 
As of December 31, 2024
Segment assets$20,084,814 $35,646,939 $20,244,722 $75,976,475 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2023
Net interest income (loss) before provision for credit losses$1,225,954 $1,116,013 $(29,713)$2,312,254 
Noninterest income103,210 168,502 21,400 293,112 
Total revenue (loss) before provision for credit losses1,329,164 1,284,515 (8,313)2,605,366 
Provision for credit losses21,454 100,391 3,155 125,000 
Compensation and employee benefits203,387 217,663 87,488 508,538 
Other noninterest expense (1)
261,406 158,949 91,703 512,058 
Total noninterest expense464,793 376,612 179,191 1,020,596 
Segment income (loss) before income taxes842,917 807,512 (190,659)1,459,770 
Segment net income (loss)$594,965 $570,153 $(3,957)$1,161,161 
Average balances:
Loans$17,739,984 $31,365,547 $439,605 $49,545,136 
Deposits$28,174,781 $23,304,066 $3,483,884 $54,962,731 
As of December 31, 2023
Segment assets$19,165,172 $35,020,106 $15,427,606 $69,612,884 
(1)The Consumer and Business Banking segment's other noninterest expense is primarily comprised of corporate overhead allocated expenses, occupancy and equipment expense, and other operating expenses. The Commercial Banking segment’s other noninterest expense is primarily comprised of corporate overhead allocated expenses, deposit account expense, and other operating expenses. The Treasury and Other segment's other noninterest expense is primarily comprised of amortization of tax credit and CRA investments, and other operating expenses, net of any corporate overhead expenses allocated to other segments.