Condensed Financial Information Of Parent Company

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Of Parent Company [Abstract]

Condensed Financial Information Of Parent Company

NOTE 23. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The following tables present the parent company only condensed balance sheets and the related condensed statements of earnings (loss) and condensed statements of cash flows as of and for the years indicated:

Parent Company Only	December 31,
Condensed Balance Sheets	2025		2024
	(In thousands)
Assets:
Cash and cash equivalents	$	159,701	$	192,255
Investments in subsidiaries	3,513,121		3,570,039
Other assets	92,584		134,799
Total assets	$	3,765,406	$	3,897,093
Liabilities:
Borrowings	$	—	$	172,976
Subordinated debt	216,369		214,709
Other liabilities	7,760		9,459
Total liabilities	224,129		397,144
Stockholders’ equity	3,541,277		3,499,949
Total liabilities and stockholders’ equity	$	3,765,406	$	3,897,093

Parent Company Only	Year Ended December 31,
Condensed Statements of Earnings (Loss)	2025		2024		2023
	(In thousands)
Miscellaneous income	$	4,576	$	6,601	$	8,978
Dividends from Bank subsidiary	430,000		80,000		46,000
Total income	434,576		86,601		54,978
Interest expense	19,551		29,217		12,067
Operating expenses	5,011		4,716		11,944
Total expenses	24,562		33,933		24,011
Earnings before income taxes and equity in undistributed earnings of subsidiaries	410,014		52,668		30,967
Income tax benefit	7,049		8,463		4,455
Earnings before equity in undistributed earnings of subsidiaries	417,063		61,131		35,422
Equity in undistributed (loss) earnings of subsidiaries	(188,090)		65,757		(1,934,559)
Net earnings (loss)	228,973		126,888		(1,899,137)
Preferred stock dividends	39,788		39,788		39,788
Net earnings (loss) available to common and equivalent stockholders	$	189,185	$	87,100	$	(1,938,925)

Parent Company Only	Year Ended December 31,
Condensed Statements of Cash Flows	2025		2024		2023
	(In thousands)
Cash flows from operating activities:
Net earnings (loss)	$	228,973	$	126,888	$	(1,899,137)
Adjustments to reconcile net earnings (loss) to net cash
provided by (used in) operating activities:
Depreciation and amortization	2,684		4,608		378
Change in other assets	(3,438)		(42,141)		(466,018)
Change in liabilities	(3,168)		(22,063)		20,907
Earned stock compensation	23,352		15,448		28,697
Equity in undistributed loss (earnings) of subsidiaries	188,090		(65,757)		1,934,559
Net cash provided by (used in) operating activities	436,493		16,983		(380,614)
Cash flows from investing activities:
Cash acquired in acquisitions, net of consideration paid	—		—		26,310
Net cash provided by investing activities	—		—		26,310
Cash flows from financing activities:
Restricted stock surrendered	(3,714)		(2,708)		(5,419)
Repayments of borrowings	(174,000)		—		—
Net proceeds from stock issuance	—		—		382,900
Exercise of options	77		—		—
Common shares purchased under the Dividend Reinvestment Plan	—		308		69
Common shares repurchased under Stock Repurchase Program	(187,727)		—		—
Preferred stock dividends paid	(39,788)		(39,788)		(39,788)
Common stock dividends paid	(63,895)		(68,298)		(48,881)
Net cash (used in) provided by financing activities	(469,047)		(110,486)		288,881
Net decrease in cash and cash equivalents	(32,554)		(93,503)		(65,423)
Cash and cash equivalents, beginning of year	192,255		285,758		351,181
Cash and cash equivalents, end of year	$	159,701	$	192,255	$	285,758