Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2026

Accounting Standards Update and Change in Accounting Principle [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

The accounting and reporting policies of the Corporation conform to U.S. GAAP and to general practice within the financial services industry. A discussion of these policies can be found in Note 1 Summary of Significant Accounting Policies included in the Corporation’s 2025 Annual Report on Form 10-K, except for new accounting pronouncements adopted, as discussed below.

New Accounting Pronouncements Adopted

Standard	Description	Date of Adoption	Effect on Financial Statements
ASU 2025-08 Financial Instruments-Credit Losses (Topic 326)	The amendments in this update expand the gross-up approach for initial recognition and measurement of acquired financial assets to purchased seasoned loans.	Early adopted effective April 1, 2026 on a prospective basis, as permitted by the standard	The Corporation early adopted this standard and applied it in the purchase accounting for the acquisition of American National. The ASU expands the gross-up approach to certain acquired non-PCD loans that qualify as purchased seasoned loans, including loans acquired in a business combination, resulting in the acquisition-date allowance for credit losses being added to the loans’ initial amortized cost basis rather than recognized as a Day 1 provision for credit losses. Refer to Note 3 for additional information.

Future Accounting Pronouncements

The expected impact of applicable material accounting pronouncements recently issued or proposed but not yet required to be adopted are discussed in the table below. To the extent that the adoption of new accounting standards materially affects the Corporation's financial condition, results of operations, liquidity or disclosures, the impacts are discussed in the applicable sections of this financial review.

Standard	Description	Date of Anticipated Adoption	Effect on Financial Statements
ASU 2024-03 Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)	The amendments in this update require a public business entity to disclose specific information about certain costs and expenses in the notes to its financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity's expenses to help investors (a) better understand the entity's performance, (b) better assess the entity's prospects for future cash flows, and (c) compare an entity's performance over time and with that of other entities.	Annual period ending December 31, 2027 and subsequent interim periods	The Corporation is currently evaluating the impact on its disclosures.
ASU 2025-06 Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)	The amendments in this update simplify the capitalization guidance by removing all references to prescriptive and sequential software development stages to align with the shift to incremental and iterative software development methods.	Interim period ending March 31, 2028 and subsequent periods	The Corporation is currently evaluating the impact on its disclosures.