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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The following tables present amortized cost, gross unrealized gains and losses, and fair values of AFS securities as of the dates indicated:
 December 31, 2025
AllowanceGrossGross
Amortizedfor CreditNet CarryingUnrealizedUnrealizedFair
Security TypeCostLossesAmountGainsLossesValue
 (In thousands)
Agency residential MBS$972,161 $— $972,161 $— $(138,076)$834,085 
Agency commercial MBS52,022 — 52,022 44 (1,100)50,966 
Agency residential CMOs883,067 — 883,067 3,857 (15,300)871,624 
Corporate debt securities257,236 (775)256,461 576 (15,441)241,596 
Private label residential CMOs254,787 — 254,787 522 (26,334)228,975 
Collateralized loan obligations200,519 — 200,519 303 — 200,822 
Private label commercial MBS9,746 — 9,746 — (467)9,279 
Asset-backed securities13,242 — 13,242 7 — 13,249 
SBA securities3,634 — 3,634 — (172)3,462 
Total (1)
$2,646,414 $(775)$2,645,639 $5,309 $(196,890)$2,454,058 
_________________________
(1)    Excludes accrued interest receivable of $11.4 million at December 31, 2025 which is recorded in "Other assets" on the consolidated balance sheets.

 December 31, 2024
GrossGross
AmortizedUnrealizedUnrealizedFair
Security TypeCostGainsLossesValue
 (In thousands)
Agency residential MBS$1,051,601 $— $(189,761)$861,840 
Agency commercial MBS52,610 — (1,046)51,564 
Agency residential CMOs467,319 223 (20,911)446,631 
Municipal securities602 — (8)594 
Corporate debt securities289,098 — (31,386)257,712 
Private label residential CMOs352,615 7 (35,712)316,910 
Collateralized loan obligations278,976 469 (29)279,416 
Private label commercial MBS13,585 — (1,213)12,372 
Asset-backed securities15,674 — (74)15,600 
SBA securities4,564 — (364)4,200 
Total (1)
$2,526,644 $699 $(280,504)$2,246,839 
_________________________
(1)    Excludes accrued interest receivable of $12.6 million at December 31, 2024 which is recorded in "Other assets" on the consolidated balance sheets.
Schedule of Realized Gain (Loss)
The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the years indicated:
Year Ended December 31,
Sales of Securities Available-for-Sale202520242023
(In thousands)
Amortized cost of securities sold $— $753,738 $3,470,424 
Gross realized gains$— $1,396 $— 
Gross realized losses— (61,796)(442,413)
Net realized losses $— $(60,400)$(442,413)
Investments Classified by Contractual Maturity Date, Available-For-Sale
The following tables present the contractual maturities of our AFS securities portfolio based on amortized cost and fair value as of the dates indicated:
December 31, 2025
Due WithinDue after One YearDue After Five YearsDue After
Security TypeOne YearThrough Five YearsThrough Ten YearsTen YearsTotal
(In thousands)
Amortized Cost:
Agency residential MBS$— $— $— $972,161 $972,161 
Agency commercial MBS— 40,168 — 11,854 52,022 
Agency residential CMOs— — 13,691 869,376 883,067 
Corporate debt securities10,750 47,677 198,809 — 257,236 
Private label residential CMOs— — — 254,787 254,787 
Collateralized loan obligations— 208 93,763 106,548 200,519 
Private label commercial MBS— — 5,928 3,818 9,746 
Asset-backed securities— — — 13,242 13,242 
SBA securities— — 3,634 — 3,634 
Total$10,750 $88,053 $315,825 $2,231,786 $2,646,414 

December 31, 2025
Due WithinDue after One YearDue After Five YearsDue After
Security TypeOne YearThrough Five YearsThrough Ten YearsTen YearsTotal
(In thousands)
Fair Value:
Agency residential MBS$— $— $— $834,085 $834,085 
Agency commercial MBS— 40,193 — 10,773 50,966 
Agency residential CMOs— — 13,792 857,832 871,624 
Corporate debt securities10,750 47,033 183,813 — 241,596 
Private label residential CMOs— — — 228,975 228,975 
Collateralized loan obligations— 208 93,793 106,821 200,822 
Private label commercial MBS— — 5,638 3,641 9,279 
Asset-backed securities— — — 13,249 13,249 
SBA securities— — 3,462 — 3,462 
Total$10,750 $87,434 $300,498 $2,055,376 $2,454,058 
Debt Securities, Held-to-maturity
The following tables present amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of HTM securities as of the dates indicated:
 December 31, 2025
AmortizedAllowance forNet CarryingGross UnrealizedGross UnrealizedFair
Security TypeCostCredit LossesAmountGainsLossesValue
 (In thousands)
Municipal securities $1,237,792 $(20)$1,237,772 $2,052 $(20,713)$1,219,111 
Agency commercial MBS447,283 — 447,283 — (19,645)427,638 
Private label commercial MBS360,382 — 360,382 — (9,606)350,776 
U.S. Treasury securities193,022 — 193,022 — (7,934)185,088 
Corporate debt securities70,852 (675)70,177 — (6,264)63,913 
Total (1)
$2,309,331 $(695)$2,308,636 $2,052 $(64,162)$2,246,526 
__________________________
(1)    Excludes accrued interest receivable of $13.4 million at December 31, 2025 which is recorded in "Other assets" on the consolidated balance sheets.
 December 31, 2024
AmortizedAllowance forNet CarryingGross UnrealizedGross UnrealizedFair
Security TypeCostCredit LossesAmountGainsLossesValue
 (In thousands)
Municipal securities $1,251,364 $(140)$1,251,224 $35 $(54,799)$1,196,460 
Agency commercial MBS440,476 — 440,476 — (37,840)402,636 
Private label commercial MBS355,342 — 355,342 — (26,226)329,116 
U.S. Treasury securities189,985 — 189,985 — (16,702)173,283 
Corporate debt securities70,482 (1,360)69,122 — (13,923)55,199 
Total (1)
$2,307,649 $(1,500)$2,306,149 $35 $(149,490)$2,156,694 
__________________________
(1)    Excludes accrued interest receivable of $13.4 million at December 31, 2024 which is recorded in "Other assets" on the consolidated balance sheets.
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following tables present the changes by major security type in our allowance for credit losses on HTM securities for the years: indicated:
Year Ended December 31, 2025
Allowance forProvision Allowance for
Credit Losses,for Credit Losses,
Beginning Credit End of
Security Typeof PeriodLossesCharge-offsRecoveriesPeriod
(In thousands)
Municipal securities$140 $(120)$— $— $20 
Corporate debt securities1,360 (685)— — 675 
Total$1,500 $(805)$— $— $695 
Year Ended December 31, 2024
Allowance forProvisionAllowance for
Credit Losses,forCredit Losses,
BeginningCreditEnd of
Security Typeof PeriodLossesCharge-offsRecoveriesPeriod
(In thousands)
Municipal securities$140 $— $— $— $140 
Corporate debt securities1,360 — — — 1,360 
Total$1,500 $— $— $— $1,500 
C
Debt Securities, Held-to-maturity, Credit Quality Indicator
The Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its HTM securities. The following tables present our HTM securities portfolio by the lowest available credit rating as of the dates indicated:
December 31, 2025
Security TypeAAAAA+AAAA-BBBNRTotal
(In thousands)
Amortized Cost:
Municipal securities$567,140 $363,823 $220,823 $84,302 $1,704 $— $1,237,792 
Agency commercial MBS— 447,283 — — — — 447,283 
Private label commercial MBS360,382 — — — — — 360,382 
U.S. Treasury securities— 193,022 — — — — 193,022 
Corporate debt securities— — — — 44,646 26,206 70,852 
Total$927,522 $1,004,128 $220,823 $84,302 $46,350 $26,206 $2,309,331 
December 31, 2024
Security TypeAAAAA+AAAA-ABBBNRTotal
(In thousands)
Amortized Cost:
Municipal securities$571,347 $369,072 $218,581 $72,952 $1,667 $— $17,745 $1,251,364 
Agency commercial MBS— 440,476 — — — — — 440,476 
Private label commercial MBS355,342 — — — — — — 355,342 
U.S. Treasury securities— 189,985 — — — — — 189,985 
Corporate debt securities— — — — — 44,507 25,975 70,482 
Total$926,689 $999,533 $218,581 $72,952 $1,667 $44,507 $43,720 $2,307,649 
Investment Securities Classified by Contractual Maturities Date - Held-to-Maturity
The following tables present the contractual maturities of our HTM securities portfolio based on amortized cost and fair value as of the dates indicated:
December 31, 2025
Due WithinDue after One YearDue After Five YearsDue After
Security TypeOne YearThrough Five YearsThrough Ten YearsTen YearsTotal
(In thousands)
Amortized Cost:
Municipal securities$— $149,636 $380,067 $708,089 $1,237,792 
Agency commercial MBS— 69,306 377,977 — 447,283 
Private label commercial MBS— — 37,304 323,078 360,382 
U.S. Treasury securities— — 193,022 — 193,022 
Corporate debt securities— — 53,719 17,133 70,852 
Total$— $218,942 $1,042,089 $1,048,300 $2,309,331 
December 31, 2025
Due WithinDue after One YearDue After Five YearsDue After
Security TypeOne YearThrough Five YearsThrough Ten YearsTen YearsTotal
(In thousands)
Fair Value:
Municipal securities$— $148,682 $377,094 $693,335 $1,219,111 
Agency commercial MBS— 67,249 360,389 — 427,638 
Private label commercial MBS— — 36,419 314,357 350,776 
U.S. Treasury securities— — 185,088 — 185,088 
Corporate debt securities— — 49,395 14,518 63,913 
Total$— $215,931 $1,008,385 $1,022,210 $2,246,526 
Investment Income
The following table presents the composition of our interest income on investment securities for the years indicated:
Year Ended December 31,
202520242023
(In thousands)
Taxable interest$126,885 $114,656 $150,710 
Non-taxable interest17,815 18,594 19,479 
Dividend income8,626 7,544 4,807 
Total interest income on investment securities$153,326 $140,794 $174,996 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
Unrealized Losses on Securities Available-for-Sale
The following tables present the gross unrealized losses and fair values of AFS securities that were in unrealized loss positions as of the dates indicated:
December 31, 2025
 Less Than 12 Months12 Months or MoreTotal
GrossGrossGross
FairUnrealizedFairUnrealizedFairUnrealized
Security TypeValueLossesValueLossesValueLosses
 (In thousands)
Agency residential MBS$— $— $834,085 $(138,076)$834,085 $(138,076)
Agency commercial MBS4,994 (6)32,006 (1,094)37,000 (1,100)
Agency residential CMOs70,270 (117)101,501 (15,183)171,771 (15,300)
Corporate debt securities— — 188,545 (15,441)188,545 (15,441)
Private label residential CMOs19,672 (8)127,020 (26,326)146,692 (26,334)
Private label commercial MBS— — 9,279 (467)9,279 (467)
SBA securities— — 3,462 (172)3,462 (172)
Total$94,936 $(131)$1,295,898 $(196,759)$1,390,834 $(196,890)

December 31, 2024
 Less Than 12 Months12 Months or MoreTotal
GrossGrossGross
FairUnrealizedFairUnrealizedFairUnrealized
Security TypeValueLossesValueLossesValueLosses
 (In thousands)
Agency residential MBS$— $— $861,840 $(189,761)$861,840 $(189,761)
Agency commercial MBS40,291 (87)11,273 (959)51,564 (1,046)
Agency residential CMOs273,347 (1,994)104,757 (18,917)378,104 (20,911)
Municipal securities— — 594 (8)594 (8)
Corporate debt securities15,968 (32)241,744 (31,354)257,712 (31,386)
Private label residential CMOs180,915 (1,031)129,178 (34,681)310,093 (35,712)
Collateralized loan obligations38,771 (29)— — 38,771 (29)
Private label commercial MBS— — 12,372 (1,213)12,372 (1,213)
Asset-backed securities15,600 (74)— — 15,600 (74)
SBA securities— — 4,200 (364)4,200 (364)
Total$564,892 $(3,247)$1,365,958 $(277,257)$1,930,850 $(280,504)