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Other Assets
 12 Months Ended
Dec. 31, 2025
Other Assets [Abstract]  
Other Assets OTHER ASSETS
The following table presents the detail of our other assets as of the dates indicated:
December 31,
Other Assets20252024
(In thousands)
Investments:
   LIHTC investments
$259,780 $295,964 
   SBIC investments
121,072 109,636 
   Alternative energy partnerships (HLBV investments)16,354 17,472 
   Other equity and CRA investments
150,048 143,152 
      Total investments
547,254 566,224 
Interest receivable131,429 125,469 
Operating lease ROU assets, net (1)
99,205 100,092 
Prepaid expenses33,829 39,432 
Taxes receivable8,385 18,009 
Foreclosed assets, net17,115 9,734 
Equity warrants (2)
3,437 3,763 
Other receivables/assets44,108 51,231 
Total other assets$884,762 $913,954 
____________________
(1)    See "Note 9. Leases" for further details regarding the operating lease ROU assets.
(2)    See "Note 15. Fair Value Measurements" for information regarding equity warrants.
Investments
The Company invests as a limited partner in LIHTC partnerships that operate qualified affordable housing projects and generate tax benefits for investors, including federal low income housing tax credits. The partnerships are deemed to be VIEs because they do not have sufficient equity investment at risk and are structured with non-substantive voting rights; however, we are not the primary beneficiary of the VIEs and do not consolidate them. We amortize the investment in proportion to the allocated tax benefits using the proportional amortization method of accounting and record such benefits net of investment amortization in income tax expense.
The Company also invests as a limited partner in SBIC investments. All of our SBIC investments meet the definition of investment companies as defined in ASC 946. We elected the practical expedient available in Topic 820 which permits the use of NAV per share or equivalent to value investments in entities that are or are similar to investment companies. SBICs are required to value and report their investments at estimated fair value. We record the unrealized gains and losses resulting from changes in the fair value of our SBIC investments in "Noninterest income - Other income" on the consolidated statements of earnings (loss). The carrying value of our SBIC investments is equal to the capital account balance per each SBIC entities' quarterly financial statements.
We invest in, and are a limited partner, in partnerships that were formed to invest in newly installed residential and commercial solar leases and power purchase agreements. As a result of our investments, we have the right to certain investment tax credits and tax depreciation benefits, and to a lesser extent, cash flows generated from the installed solar systems leased to consumers for a fixed period of time. We account for these investments using the HLBV method, where an investor determines its share of an investee's net earnings by comparing its claim on the investee's book value at the beginning and end of the period, assuming the investee were to liquidate all assets at their U.S. GAAP amounts and distribute the resulting cash to creditors and investors under their respective priorities.
Other equity and CRA investments consist of both equity investments without and with readily determinable fair values. The Company's equity investments without readily determinable fair values include investments in privately held companies, limited partnerships, entities from which we issued trust preferred securities, CRA-related loan pool investments, and CRA-related equity investments. The CRA-related loan pool and equity investments primarily consist of investments in partnerships which provide affordable housing and participations in loan pools which provide low-cost loans to low and moderate income applicants. We measure our equity investments without readily determinable fair values using the measurement alternative. Carrying values of these investments are adjusted to fair value upon observable transactions for identical or similar investments of the same issuer. The Company's equity investments with readily determinable fair values include investments in public companies, often from the exercise of warrants, and publicly-traded mutual funds. Unrealized and realized gains and losses on equity investments without and with readily determinable fair values are recorded in "Noninterest income - Other income" on the consolidated statements of earnings (loss).