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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 [Table Text Block]
Investment securities are designated as AFS, HTM, or equity on the consolidated balance sheets. The amortized cost and fair values of AFS and HTM securities at December 31, 2025 were as follows:
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)$3,063 $$(20)$3,044 
Residential mortgage-related securities:
FNMA/FHLMC134,142 1,214 (5,493)$129,863 
GNMA5,000,015 40,067 (253)$5,039,829 
Commercial mortgage-related securities:
FNMA/FHLMC17,959 — (1,001)$16,958 
GNMA113,374 — (3,818)$109,556 
Asset backed securities:
FFELP95,977 19 (950)$95,046 
SBA283 — (14)$269 
Other debt securities3,000 — (2)$2,998 
Total AFS investment securities$5,367,813 $41,301 $(11,551)$5,397,563 
HTM investment securities
U.S. Treasury securities$996 $19 $— $1,015 
Obligations of state and political subdivisions (municipal securities)1,628,088 3,070 (123,856)$1,507,302 
Residential mortgage-related securities:
FNMA/FHLMC823,630 165 (127,333)$696,462 
GNMA39,123 82 (2,321)$36,884 
Private-label302,817 — (43,990)$258,827 
Commercial mortgage-related securities:
FNMA/FHLMC763,370 — (113,004)$650,366 
GNMA44,552 152 (4,566)$40,138 
Total HTM investment securities$3,602,576 $3,488 $(415,070)$3,190,994 
The amortized cost and fair values of AFS and HTM securities at December 31, 2024 were as follows:
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)$3,063 $— $(58)$3,005 
Residential mortgage-related securities:
FNMA/FHLMC120,272 190 (9,534)110,928 
GNMA4,236,199 5,379 (13,851)4,227,727 
Commercial mortgage-related securities:
FNMA/FHLMC18,332 — (1,332)17,000 
GNMA116,275 — (4,800)111,475 
Asset backed securities:
   FFELP108,319 123 (604)107,839 
   SBA495 — (24)471 
Other debt securities3,000 — (11)2,989 
Total AFS investment securities$4,605,954 $5,693 $(30,213)$4,581,434 
HTM investment securities
U.S. Treasury securities$1,000 $— $(1)$999 
Obligations of state and political subdivisions (municipal securities)1,659,722 1,122 (174,202)1,486,642 
Residential mortgage-related securities:
FNMA/FHLMC885,476 22,934 (186,464)721,946 
GNMA43,693 (3,774)39,927 
Private-label324,182 8,135 (65,963)266,353 
Commercial mortgage-related securities:
FNMA/FHLMC772,456 10,217 (159,078)623,595 
GNMA52,219 236 (6,424)46,032 
Total HTM investment securities$3,738,747 $42,653 $(595,906)$3,185,494 
Debt Securities, Held-to-Maturity [Table Text Block]
Investment securities are designated as AFS, HTM, or equity on the consolidated balance sheets. The amortized cost and fair values of AFS and HTM securities at December 31, 2025 were as follows:
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)$3,063 $$(20)$3,044 
Residential mortgage-related securities:
FNMA/FHLMC134,142 1,214 (5,493)$129,863 
GNMA5,000,015 40,067 (253)$5,039,829 
Commercial mortgage-related securities:
FNMA/FHLMC17,959 — (1,001)$16,958 
GNMA113,374 — (3,818)$109,556 
Asset backed securities:
FFELP95,977 19 (950)$95,046 
SBA283 — (14)$269 
Other debt securities3,000 — (2)$2,998 
Total AFS investment securities$5,367,813 $41,301 $(11,551)$5,397,563 
HTM investment securities
U.S. Treasury securities$996 $19 $— $1,015 
Obligations of state and political subdivisions (municipal securities)1,628,088 3,070 (123,856)$1,507,302 
Residential mortgage-related securities:
FNMA/FHLMC823,630 165 (127,333)$696,462 
GNMA39,123 82 (2,321)$36,884 
Private-label302,817 — (43,990)$258,827 
Commercial mortgage-related securities:
FNMA/FHLMC763,370 — (113,004)$650,366 
GNMA44,552 152 (4,566)$40,138 
Total HTM investment securities$3,602,576 $3,488 $(415,070)$3,190,994 
The amortized cost and fair values of AFS and HTM securities at December 31, 2024 were as follows:
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)$3,063 $— $(58)$3,005 
Residential mortgage-related securities:
FNMA/FHLMC120,272 190 (9,534)110,928 
GNMA4,236,199 5,379 (13,851)4,227,727 
Commercial mortgage-related securities:
FNMA/FHLMC18,332 — (1,332)17,000 
GNMA116,275 — (4,800)111,475 
Asset backed securities:
   FFELP108,319 123 (604)107,839 
   SBA495 — (24)471 
Other debt securities3,000 — (11)2,989 
Total AFS investment securities$4,605,954 $5,693 $(30,213)$4,581,434 
HTM investment securities
U.S. Treasury securities$1,000 $— $(1)$999 
Obligations of state and political subdivisions (municipal securities)1,659,722 1,122 (174,202)1,486,642 
Residential mortgage-related securities:
FNMA/FHLMC885,476 22,934 (186,464)721,946 
GNMA43,693 (3,774)39,927 
Private-label324,182 8,135 (65,963)266,353 
Commercial mortgage-related securities:
FNMA/FHLMC772,456 10,217 (159,078)623,595 
GNMA52,219 236 (6,424)46,032 
Total HTM investment securities$3,738,747 $42,653 $(595,906)$3,185,494 
Investments Classified by Contractual Maturity Date [Table Text Block]
Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The expected maturities of AFS and HTM securities at December 31, 2025, are shown below:
 AFSHTM
(in thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in one year or less$1,000 $1,000 $4,214 $4,215 
Due after one year through five years4,430 4,422 99,077 99,036 
Due after five years through ten years— — 218,537 218,398 
Due after ten years633 620 1,307,256 1,186,668 
Total municipal, U.S. Treasury and other debt securities6,063 6,042 1,629,084 1,508,317 
Residential mortgage-related securities:
FNMA/FHLMC134,142 129,863 823,630 696,462 
GNMA5,000,015 5,039,829 39,123 36,884 
Private-label— — 302,817 258,827 
Commercial mortgage-related securities:
FNMA/FHLMC17,959 16,958 763,370 650,366 
GNMA113,374 109,556 44,552 40,138 
Asset backed securities:
FFELP95,977 95,046 — — 
SBA283 269 — — 
Total investment securities$5,367,813 $5,397,563 $3,602,576 $3,190,994 
Ratio of fair value to amortized cost100.6 %88.6 %
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block]
Schedule of Realized Gain (Loss) [Table Text Block]
The following table summarizes gross realized gains and losses on AFS securities, the gain or loss on sale and fair value adjustment of equity securities, and proceeds from the sale of AFS investment securities for each of the three years ended December 31 shown below:
(in thousands)202520242023
Gross realized gains on AFS securities$— $— $83 
Gross realized losses on AFS securities— (148,380)(65,022)
Gain on sale of equity securities— 4,054 76 
Fair value adjustment of equity securities49 179 5,960 
Investment securities (losses) gains, net$49 $(144,147)$(58,903)
Proceeds from sales of AFS investment securities$— $1,141,231 $715,066 
Schedule of Unrealized Loss on Investments [Table Text Block]
The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at December 31, 2025:
 Less than 12 months12 months or moreTotal
(in thousands)Number
of
Securities
Unrealized
Losses
Fair
Value
Number
of
Securities
Unrealized
Losses
Fair
Value
Unrealized LossesFair
Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)— $— $— $(20)$863 $(20)$863 
Residential mortgage-related securities:
FNMA/FHLMC12 (95)14,155 12 (5,398)56,215 (5,493)70,370 
GNMA16 (232)143,734 (21)2,674 (253)146,408 
Commercial mortgage-related securities:
FNMA/FHLMC— — — (1,001)16,958 (1,001)16,958 
GNMA— — — 15 (3,818)109,556 (3,818)109,556 
Asset backed securities:
FFELP(152)33,239 12 (798)55,565 (950)88,804 
SBA— — — (14)231 (14)231 
Other debt securities(2)1,998 — — — (2)1,998 
Total32 $(481)$193,126 47 $(11,070)$242,062 $(11,551)$435,188 
HTM investment securities
U.S. Treasury securities— $— $— — $— $— $— $— 
Obligations of state and political subdivisions (municipal securities)81 (2,978)89,826 543 (120,878)842,485 (123,856)932,311 
Residential mortgage-related securities:
FNMA/FHLMC— 30 102 (127,333)676,915 (127,333)676,945 
GNMA — — — 80 (2,321)30,237 (2,321)30,237 
Private-label— — — 18 (43,990)258,827 (43,990)258,827 
Commercial mortgage-related securities:
FNMA/FHLMC(470)26,287 43 (112,534)624,079 (113,004)650,366 
GNMA— — — 13 (4,566)40,138 (4,566)40,138 
Total84 $(3,448)$116,143 799 $(411,622)$2,472,681 $(415,070)$2,588,824 
For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2024:
 Less than 12 months12 months or moreTotal
(in thousands)Number
of
Securities
Unrealized
Losses
Fair
Value
Number
of
Securities
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
AFS investment securities
Obligations of state and political subdivisions (municipal securities)$(3)$542 $(55)$828 $(58)$1,370 
Residential mortgage-related securities:
FNMA/FHLMC23 (607)31,983 14 (8,927)61,596 (9,534)93,579 
GNMA116 (13,706)1,660,642 (145)3,945 (13,851)1,664,587 
Commercial mortgage-related securities:
FNMA/FHLMC— — — (1,332)17,000 (1,332)17,000 
GNMA— — — 16 (4,800)111,475 (4,800)111,475 
Asset backed securities:
FFELP— — — 12 (604)62,830 (604)62,830 
SBA— — — (24)464 (24)464 
Other debt securities(7)993 (3)997 (11)1,989 
Total141 $(14,323)$1,694,159 54 $(15,890)$259,134 $(30,213)$1,953,294 
HTM investment securities
U.S. Treasury securities— $— $— $(1)$999 $(1)$999 
Obligations of state and political subdivisions (municipal securities)370 (11,860)483,073 641 (162,343)866,949 (174,202)1,350,022 
Residential mortgage-related securities:
FNMA/FHLMC12 (280)11,617 106(186,184)710,114 (186,464)721,732 
GNMA(183)8,856 79 (3,591)31,071 (3,774)39,927 
Private-label— — — 18(65,963)266,353 (65,963)266,353 
Commercial mortgage-related securities:
FNMA/FHLMC(1,343)25,518 43 (157,735)598,077 (159,078)623,595 
GNMA— — — 13 (6,424)46,032 (6,424)46,032 
Total391 $(13,665)$529,064 901 $(582,241)$2,519,595 $(595,906)$3,048,660