Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income Tax Expense (Benefit)

The components of income tax expense from operations for the years ended December 31, 2025, 2024 and 2023 were as follows:

(In thousands)	Current		Deferred		Total
Year ended December 31, 2025:
U.S. federal	$	131,851	$	10,482	$	142,333
State and local	17,730		1,073		18,803
Total	$	149,581	$	11,555	$	161,136
Year ended December 31, 2024:
U.S. federal	$	132,197	$	(845)	$	131,352
State and local	13,483		254		13,737
Total	$	145,680	$	(591)	$	145,089
Year ended December 31, 2023:
U.S. federal	$	124,787	$	(6,228)	$	118,559
State and local	17,161		(1,171)		15,990
Total	$	141,948	$	(7,399)	$	134,549

Schedule Of Income Tax Expense Recorded Directly To Stockholders Equity

The components of income tax (benefit) expense recorded directly to shareholders' equity for the years ended 2025, 2024 and 2023 were as follows:

(In thousands)	2025		2024		2023
Unrealized gain (loss) on available for sale debt securities	$	85,952	$	57,359	$	69,972
Change in fair value on cash flow hedges	(3,023)		(13,704)		(6,017)
Accumulated pension (benefit) loss	811		512		1,197
Income tax (benefit) expense allocated to shareholders' equity	$	83,740	$	44,167	$	65,152

Components Of Deferred Tax Assets And Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2025 and 2024 were as follows:

(In thousands)	2025		2024
Deferred tax assets:
Unrealized loss on available for sale debt securities	$	161,691	$	247,643
Loans, principally due to allowance for credit losses	47,422		43,450
Unearned fee income	10,430		10,858
Equity-based compensation	8,749		8,364
Deferred compensation	8,433		8,477
Cash flow hedges	8,301		5,630
Accrued expenses	7,785		10,124
Other	367		497
Total deferred tax assets	253,178		335,043
Deferred tax liabilities:
Equipment lease financing	97,819		97,042
Land, buildings, and equipment	28,890		23,359
Accretion on investment securities	9,092		4,203
Intangible assets	7,702		7,596
Private equity investments	6,676		5,446
Other	5,643		4,746
Total deferred tax liabilities	155,822		142,392
Net deferred tax assets (liabilities)	$	97,356	$	192,651

Schedule Of Company's Actual Income Tax Expense

A reconciliation between the expected federal income tax expense using the federal statutory tax rate of 21%, and the Company's actual income tax expense for 2025, 2024, and 2023 is provided below. The effective tax rate is calculated by dividing income taxes by income before income taxes less the non-controlling interest expense.

(Dollars in thousands)	2025				2024				2023
	Amount		Effective Tax Rate (%)		Amount		Effective Tax Rate (%)		Amount		Effective Tax Rate (%)
U.S. federal statutory income tax rate	$	152,751	21.00	%	$	140,998	21.00	%	$	128,438	21.00	%
Federal
Tax Credits, net	(1,893)		(0.26)		(1,431)		(0.21)		(1,478)		(0.24)
Nontaxable or nondeductible items
Tax-exempt interest, net of cost to carry	(6,983)		(0.96)		(6,892)		(1.03)		(7,002)		(1.15)
Other	5,105		0.70		4,043		0.60		4,292		0.70
Other	(2,732)		(0.37)		(2,444)		(0.36)		(2,349)		(0.38)
State and local income taxes, net of federal effect	14,855		2.04		10,852		1.62		12,633		2.07
Changes in unrecognized tax benefits	33		—		(37)		(0.01)		15		—
Total income tax expense	$	161,136	22.15	%	$	145,089	21.61	%	$	134,549	22.00	%

Schedule of Unrecognized Tax Benefits Roll Forward

The activity in the accrued liability for unrecognized tax benefits for the years ended December 31, 2025 and 2024 was as follows:

(In thousands)	2025		2024
Unrecognized tax benefits at beginning of year	$	1,224	$	1,270
Gross increases – tax positions in prior period	46		8
Gross decreases – tax positions in prior period	(5)		(2)
Gross increases – current-period tax positions	187		295
Lapse of statute of limitations	(232)		(347)
Unrecognized tax benefits at end of year	$	1,220	$	1,224

The Company and its subsidiaries are subject to income tax by federal, state and local government taxing authorities. Tax years 2022 through 2025 remain open to examination for U.S. federal income tax and for major state taxing jurisdictions.

Schedule of Income Tax Paid

Income taxes paid for 2025, 2024, and 2023 was as follows:

(In thousands)	2025		2024		2023
U.S. federal	$	145,522	$	116,528	$	113,536
State and local	17,390		9,601		17,421
Total income taxes paid	$	162,912	$	126,129	$	130,957