Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table summarizes the fair values of our derivative instruments on a gross and net basis for the periods indicated. The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to account for the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the consolidated balance sheets.

	March 31, 2025					December 31, 2024
	Notional Amount		Consolidated Balance Sheet Location	Estimated Fair Value		Notional Amount		Consolidated Balance Sheet Location	Estimated Fair Value
Derivatives designated as accounting hedges:
Interest rate swap contracts	$	—		$	—	$	—		$	—
Derivatives not designated as accounting hedges:
Interest rate swap contracts	1,390.7			35.2		1,415.4			44.9
Interest rate lock commitments	9.2			0.1		2.7			—
Forward loan sales contracts	—			—		2.4			—
Derivative assets	$	1,399.9	Other assets	$	35.3	$	1,420.5	Other assets	$	44.9
Derivatives designated as accounting hedges:
Interest rate collars	$	300.0		$	0.6	$	300.0		$	1.0
Interest rate swap contracts	300.0			1.0		300.0			2.8
Derivatives not designated as accounting hedges:
Interest rate swap contracts	1,390.7			105.7		1,415.4			130.0
Risk participation agreements	89.0			—		91.6			—
Forward loan sales contracts	6.7			—		—			—
Derivative liabilities	$	2,086.4	Accounts payable and accrued expenses	$	107.3	$	2,107.0	Accounts payable and accrued expenses	$	133.8

Schedule of Derivative Instruments

The tables below present the gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of the dates indicated:

	March 31, 2025
	Gross Assets Recognized		Gross Assets Offset in the Balance Sheet		Net Assets in the Balance Sheet		Financial Instruments		Cash Collateral Received (1)		Net Amount
Interest rate swap and collar contracts	$	35.2	$	—	$	35.2	$	—	$	35.3	$	(0.1)
Interest rate lock commitments	0.1		—		0.1		—		—		0.1
Total derivatives	35.3		—		35.3		—		35.3		—
Total assets	$	35.3	$	—	$	35.3	$	—	$	35.3	$	—
(1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
	Gross Liabilities Recognized		Gross Liabilities Offset in the Balance Sheet		Net Liabilities in the Balance Sheet		Financial Instruments		Cash Collateral Posted		Net Amount
Interest rate swap and collar contracts	$	107.3	$	—	$	107.3	$	—	$	—	$	107.3
Total derivatives	107.3		—		107.3		—		—		107.3
Repurchase agreements(2)	528.0		—		528.0		—		—		528.0
Total liabilities	$	635.3	$	—	$	635.3	$	—	$	—	$	635.3
(2) Repurchase agreements are fully collateralized by investment securities.

	December 31, 2024
	Gross Assets Recognized		Gross Assets Offset in the Balance Sheet		Net Assets in the Balance Sheet		Financial Instruments		Cash Collateral Received(1)		Net Amount
Interest rate swap and collar contracts	$	44.9	$	—	$	44.9	$	—	$	42.4	$	2.5
Total derivatives	44.9		—		44.9		—		42.4		2.5
Total assets	$	44.9	$	—	$	44.9	$	—	$	42.4	$	2.5
(1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
	Gross Liabilities Recognized		Gross Liabilities Offset in the Balance Sheet		Net Liabilities in the Balance Sheet		Financial Instruments		Cash Collateral Posted		Net Amount
Interest rate swap and collar contracts	$	133.8	$	—	$	133.8	$	—	$	—	$	133.8
Total derivatives	133.8		—		133.8		—		—		133.8
Repurchase agreements(2)	523.9		—		523.9		—		—		523.9
Total liabilities	$	657.7	$	—	$	657.7	$	—	$	—	$	657.7
(2) Repurchase agreements are fully collateralized by investment securities.