Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments Contingencies and Guarantees

Off-Balance-Sheet Arrangements, Commitments, Guarantees and Contingencies

Financial Instruments with Off-Balance-Sheet Risk. In the normal course of business, we enter into various transactions that, in accordance with U.S. GAAP, are not included in our consolidated balance sheets. We enter into these transactions to meet the financing needs of our customers. As more fully discussed in our 2025 Form 10-K, these transactions include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit risk that may exceed the amounts recognized in the consolidated balance sheets. We minimize our exposure to loss under these commitments by subjecting them to credit approval, risk evaluation, and monitoring procedures.

Financial instruments with off-balance-sheet risk were as follows:

	March 31, 2026		December 31, 2025
Commitments to extend credit	$	12,168,841	$	12,473,653
Standby letters of credit	449,690		394,714
Deferred standby letter of credit fees	2,589		2,740

Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures.

The allowance for credit losses on off‑balance‑sheet credit exposures is a liability account, calculated in accordance with ASC 326, representing management’s best estimate of lifetime current expected credit losses over the contractual periods for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. Off‑balance‑sheet credit exposures primarily consist of amounts available under outstanding lines of credit and letters of credit, as presented in the table above. The amount of the allowance represents management’s best estimate of expected credit losses on off‑balance‑sheet credit exposures, considering available information from internal and external sources, including historical credit loss experience, current conditions, and reasonable and supportable forecasts, as well as the probability that commitments will be funded, over the contractual terms of the commitments. Our allowance methodology is more fully described in our 2025 Form 10‑K.

The following table presents activity in the allowance for credit losses on off-balance-sheet credit exposures.

	Three Months Ended March 31,
	2026		2025
Beginning balance	$	51,298	$	51,904
Credit loss expense (benefit)	(3,716)		(1,958)
Ending balance	$	47,582	$	49,946

Lease Commitments. We lease certain office facilities and office equipment under operating leases. The components of total lease expense were as follows:

	Three Months Ended March 31,
	2026		2025
Amortization of lease right-of-use assets	$	9,182	$	9,041
Short-term lease expense	523		334
Non-lease components (including taxes, insurance, common maintenance, etc.)	3,913		3,754
Total	$	13,618	$	13,129

Right-of-use lease assets totaled $257.3 million at March 31, 2026 and $259.2 million at December 31, 2025, and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $294.3 million at March 31, 2026 and $296.4 million at December 31, 2025, and are reported as a component of accrued interest payable and other liabilities on our accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $9.4 million during the three months ended March 31, 2026, and $9.1 million during the three months ended March 31, 2025. There has been no material change in our expected future minimum lease payments since December 31, 2025. See the 2025 Form 10-K for information regarding these commitments.

Litigation. We are subject to various claims and legal actions that have arisen in the ordinary course of conducting business. Management does not expect the ultimate disposition of these matters to have a material adverse impact on our consolidated financial statements.