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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
NET INCOME (LOSS) $ (562,792) $ 24,740 $ (475,631) $ 104,374
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized holding (losses) gains arising during the period on available-for-sale securities (835,485) 97,187 (840,504) 71,400
Less: Reclassification adjustment for realized losses included in net income (801,492) (28,393) (801,492) (28,393)
Less: Realized gains on derivative instruments 4,648 37,558 38,047 24,975
Less: Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity (1) [1] (129,912) (6,231) (141,267) (17,938)
Other comprehensive income (loss), before tax effect 91,271 94,253 64,208 92,756
Less: Tax effect of other comprehensive income (loss) 23,854 24,633 16,781 24,242
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 67,417 69,620 47,427 68,514
COMPREHENSIVE INCOME (LOSS) $ (495,375) $ 94,360 $ (428,204) $ 172,888
[1] During the three and nine months ended September 30, 2025, the Company engaged in a balance sheet repositioning, which included the transfer of all held-to-maturity securities to the available-for-sale portfolio, including those previously transferred to the held-to-maturity portfolio. The securities were transferred at fair value and the previous related remaining combined net unrealized losses in accumulated other comprehensive income (loss) were either recognized as part of the securities transfer and subsequent sale of certain securities or will be amortized into income over the remaining life of the security. See Note 2, Investment Securities, for more information on the securities portfolio.