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VARIABLE INTEREST ENTITIES (Tables)
12 Months Ended
Dec. 31, 2025
VARIABLE INTEREST ENTITIES  
Schedule of the carrying value and classification of assets and liabilities of VIEs

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Nonconsolidated VIEs (in thousands)

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December 31, 2025

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December 31, 2024

Assets

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​

Committed investments in tax credit equity

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$

241,401

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$

313,230

Other assets: Equity-method investments

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93,018

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​

50,592

Total interests in nonconsolidated VIEs

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$

334,419

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$

363,822

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Liabilities

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Commitments to fund investments in tax credit equity

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$

219,949

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$

274,975

Total commitments to fund nonconsolidated VIEs

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$

219,949

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$

274,975

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Maximum exposure to losses(1)(2)

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$

334,419

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$

363,822

(1)Maximum exposure is determined as “Total interests in nonconsolidated VIEs.” The maximum exposure for the Company’s investments in tax credit equity is limited to the carrying value of its investment, as there are no funding obligations or other commitments related to the nonconsolidated VIEs other than the amounts presented in the table above.
(2)Based on historical experience and the underlying expected cash flows from the underlying investment, the maximum exposure of loss is not representative of the actual loss, if any, that the Company may incur.

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Consolidated VIEs  
VARIABLE INTEREST ENTITIES  
Summary of assets and liabilities of the Company's consolidated joint development VIEs

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Consolidated VIEs (in thousands)

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December 31, 2025

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December 31, 2024

Assets:

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Cash and cash equivalents

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$

439

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$

863

Restricted cash

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2,452

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3,939

Receivables, net

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27,570

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26,570

Other Assets

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7,257

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​

44,892

Total assets of consolidated VIEs

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$

37,718

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$

76,264

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Liabilities:

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Other liabilities

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$

9,888

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$

55,527

Total liabilities of consolidated VIEs

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$

9,888

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$

55,527

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