HANCOCK WHITNEY CORP, 10-Q filed on 5/7/2026
Quarterly Report
v3.26.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2026
Apr. 30, 2026
Document Information [Line Items]    
Entity Registrant Name HANCOCK WHITNEY CORPORATION  
Entity Filer Category Large Accelerated Filer  
Entity Central Index Key 0000750577  
Amendment Flag false  
Document Type 10-Q  
Document Fiscal Period Focus Q1  
Document Period End Date Mar. 31, 2026  
Document Fiscal Year Focus 2026  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Shell Company false  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity File Number 001-36872  
Entity Tax Identification Number 64-0693170  
Entity Address, Address Line One Hancock Whitney Plaza  
Entity Address, Address Line Two 2510 14th Street  
Entity Address, City or Town Gulfport  
Entity Address, State or Province MS  
Entity Address, Postal Zip Code 39501  
City Area Code 228  
Local Phone Number 868-4000  
Entity Common Stock, Shares Outstanding   81,157,968
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Entity Incorporation, State or Country Code MS  
Common Stock, Par Value $3.33 Per Share [Member]    
Document Information [Line Items]    
Title of 12(b) Security Common stock, par value $3.33 per share  
Trading Symbol HWC  
Security Exchange Name NASDAQ  
6.25% Subordinated Notes [Member]    
Document Information [Line Items]    
Title of 12(b) Security 6.25% Subordinated Notes  
Trading Symbol HWCPZ  
Security Exchange Name NASDAQ  
v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and due from banks $ 555,524 $ 562,995
Interest-bearing bank deposits 223,494 132,037
Federal funds sold 212 229
Securities available for sale, at fair value (amortized cost of $6,287,446 and $6,341,322) 5,976,386 5,961,917
Securities held to maturity (fair value of $1,926,729 and $2,011,026) 2,051,628 2,132,882
Loans held for sale (includes $36,477 and $33,158 measured at fair value) 63,090 33,158
Loans 23,991,840 23,958,440
Less: allowance for loan losses (311,316) (307,731)
Loans, net 23,680,524 23,650,709
Property and equipment, net of accumulated depreciation of $371,743 and $370,818 260,958 261,181
Right of use assets, net of accumulated amortization of $77,077 and $73,527 104,573 102,056
Prepaid expenses 60,386 58,847
Other real estate and foreclosed assets, net 11,257 14,788
Accrued interest receivable 141,254 138,509
Goodwill 925,404 925,404
Other intangible assets, net 64,523 67,071
Life insurance contracts 804,064 798,509
Funded pension assets, net 296,537 292,437
Deferred tax asset, net 34,936 55,798
Other assets 287,376 284,235
Total assets 35,542,126 35,472,762
Deposits    
Noninterest-bearing 10,344,878 10,374,991
Interest-bearing 18,737,256 18,904,783
Total deposits 29,082,134 29,279,774
Short-term borrowings 1,360,451 1,017,292
Long-term debt 193,785 199,407
Accrued interest payable 14,557 14,485
Lease liabilities 124,287 121,505
Other liabilities 347,320 380,182
Total liabilities 31,122,534 31,012,645
Stockholders' equity:    
Common stock 309,513 309,513
Capital surplus 1,393,663 1,491,219
Retained earnings 3,041,543 3,035,636
Accumulated other comprehensive loss, net (325,127) (376,251)
Total stockholders' equity 4,419,592 4,460,117
Total liabilities and stockholders' equity $ 35,542,126 $ 35,472,762
Preferred shares authorized (par value of $20.00 per share) 50,000,000 50,000,000
Common shares authorized (par value of $3.33 per share) 350,000,000 350,000,000
Common shares issued 92,947,000 92,947,000
Common shares outstanding 81,152,000 82,259,000
v3.26.1
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Securities available for sale, amortized cost $ 6,287,446 $ 6,341,322
Securities held to maturity, fair value 1,926,729 2,011,026
Loans held-for-sale, fair value 36,477 33,158
Property and equipment, accumulated depreciation 371,743 370,818
Right of use assets, accumulated amortization $ 77,077 $ 73,527
Preferred stock, par value per share $ 20 $ 20
Common stock, par value per share $ 3.33 $ 3.33
v3.26.1
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Loans, including fees $ 331,355 $ 331,488
Loans held for sale 366 341
Securities-taxable 62,125 51,899
Securities-tax exempt 3,710 4,218
Short-term investments 3,826 7,375
Total interest income 401,382 395,321
Interest expense:    
Deposits 104,446 120,507
Short-term borrowings 8,889 1,845
Long-term debt 2,882 3,064
Total interest expense 116,217 125,416
Net interest income 285,165 269,905
Provision for credit losses 13,172 10,462
Net interest income after provision for credit losses 271,993 259,443
Noninterest income:    
Securities transactions, net (98,595)  
Other income 17,374 17,053
Total noninterest income 7,482 94,791
Noninterest expense:    
Compensation expense 98,788 88,952
Employee benefits 28,360 25,395
Personnel expense 127,148 114,347
Net occupancy expense 13,129 13,580
Equipment expense 4,157 4,091
Data processing expense 32,796 31,250
Professional services expense 13,600 12,235
Amortization of intangible assets 2,548 2,113
Deposit insurance and regulatory fees 4,988 5,026
Other real estate and foreclosed assets expense, net 441 1,780
Other expense 21,941 20,637
Total noninterest expense 220,748 205,059
Income before income taxes 58,727 149,175
Income taxes expense 11,305 29,671
Net income $ 47,422 $ 119,504
Earnings per common share-basic $ 0.58 $ 1.38
Earnings per common share-diluted 0.57 1.38
Dividends paid per share $ 0.50 $ 0.45
Weighted average shares outstanding-basic 81,674 86,092
Weighted average shares outstanding-diluted 82,261 86,462
Service charges on deposit accounts    
Noninterest income:    
Service charges on deposit accounts $ 25,902 $ 24,119
Trust fees    
Noninterest income:    
Service charges on deposit accounts 24,574 18,022
Bank card and ATM fees    
Noninterest income:    
Service charges on deposit accounts 22,126 20,714
Investment and annuity fees and insurance commissions    
Noninterest income:    
Service charges on deposit accounts 12,572 11,415
Secondary mortgage market operations    
Noninterest income:    
Service charges on deposit accounts $ 3,529 $ 3,468
v3.26.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 47,422 $ 119,504
Other comprehensive income (loss) before income taxes:    
Net change in unrealized loss on securities available for sale, cash flow hedges and equity method investment (38,474) 109,512
Reclassification of net loss realized and included in earnings 104,592 9,415
Valuation adjustments to employee benefit plans (496)  
Amortization of unrealized net loss on securities transferred to held to maturity 413 405
Other comprehensive income before income taxes 66,035 119,332
Income tax expense 14,911 28,212
Other comprehensive income net of income taxes 51,124 91,120
Comprehensive income $ 98,546 $ 210,624
v3.26.1
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock [Member]
Capital Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2024 $ 4,127,636 $ 309,513 $ 1,719,609 $ 2,704,606 $ (606,092)
Balance, Shares Issued at Dec. 31, 2024   92,947      
Net income 119,504     119,504  
Other comprehensive income 91,120       91,120
Comprehensive income 210,624        
Dividends declared (39,460)     (39,460)  
Common stock activity, long-term incentive plans (464)   (471) 7  
Issuance of stock from dividend reinvestment and stock purchase plans 1,083   1,083    
Repurchase of common stock (20,747)   (20,747)    
Balance at Mar. 31, 2025 4,278,672 $ 309,513 1,699,474 2,784,657 (514,972)
Balance, Shares Issued at Mar. 31, 2025   92,947      
Balance at Dec. 31, 2025 $ 4,460,117 $ 309,513 1,491,219 3,035,636 (376,251)
Balance, Shares Issued at Dec. 31, 2025 92,947 92,947      
Net income $ 47,422     47,422  
Other comprehensive income 51,124       51,124
Comprehensive income 98,546        
Dividends declared (41,515)     (41,515)  
Common stock activity, long-term incentive plans (3,390)   (3,390)    
Issuance of stock from dividend reinvestment and stock purchase plans 1,211   1,211    
Repurchase of common stock (95,377)   (95,377)    
Balance at Mar. 31, 2026 $ 4,419,592 $ 309,513 $ 1,393,663 $ 3,041,543 $ (325,127)
Balance, Shares Issued at Mar. 31, 2026 92,947 92,947      
v3.26.1
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dividends declared, per common share $ 0.5 $ 0.45
Repurchase of common stock, shares 1,400,000 350,000
v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 47,422 $ 119,504
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,282 7,792
Provision for credit losses 13,172 10,462
Gain on other real estate and foreclosed assets (424) (446)
Deferred tax expense 5,950 13,364
Increase cash surrender value of life insurance contracts (7,194) (4,119)
Loss on disposal of assets 143 34
Loss on securities transactions, net 98,595  
Net increase in loans held for sale (30,323) (4,703)
Net amortization of securities premium/discount 3,482 3,405
Amortization of intangible assets 2,548 2,113
Stock-based compensation expense 5,625 5,921
Net change in derivative collateral liability 7,597 (15,482)
Net decrease in interest payable and other liabilities (35,995) (39,021)
Net (increase) decrease in other assets (913) 4,164
Other, net (1,595) 1,194
Net cash provided by operating activities 114,372 104,182
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of securities available for sale 1,414,258  
Proceeds from maturities of securities available for sale 134,248 92,303
Purchases of securities available for sale (1,596,040) (155,951)
Proceeds from maturities of securities held to maturity 79,607 72,797
Proceeds from termination of fair value hedges 1,657  
Net decrease in short-term investments (91,440) 98,257
Net (purchase) redemption of Federal Home Loan Bank stock (15,239) 2,194
Proceeds from sales of loans and leases 63,777 30,245
Net (increase) decrease in loans (113,911) 159,669
Purchases of property and equipment (5,926) (3,951)
Proceeds from sales of other real estate and foreclosed assets 4,821 1,362
Other, net 1,313 (5,679)
Net cash provided by (used in) investing activities (122,875) 291,246
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in deposits (197,640) (298,118)
Net increase (decrease) in short-term borrowings 343,159 (96,235)
Dividends paid (42,072) (39,582)
Payroll tax remitted on net share settlement of equity awards (9,016) (6,392)
Proceeds from dividend reinvestment and stock purchase plans 1,211 1,083
Repurchase of common stock (94,610) (20,747)
Net cash provided by (used in) financing activities 1,032 (459,991)
NET DECREASE IN CASH AND DUE FROM BANKS (7,471) (64,563)
CASH AND DUE FROM BANKS, BEGINNING 562,995 574,910
CASH AND DUE FROM BANKS, ENDING 555,524 510,347
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 1,866 $ 2,319
v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Pay vs Performance Disclosure    
Net Income (Loss) $ 47,422 $ 119,504
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
v3.26.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation

1. Basis of Presentation

The consolidated financial statements include the accounts of Hancock Whitney Corporation and all other entities in which it has a controlling interest (the “Company”). The financial statements include all adjustments that are, in the opinion of management, necessary to fairly state the Company’s financial condition, results of operations, changes in stockholders’ equity and cash flows for the interim periods presented. The Company has also evaluated all subsequent events for potential recognition and disclosure through the date of the filing of this Quarterly Report on Form 10-Q (this “Report” or “report”). Some financial information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) have been condensed or omitted in this Quarterly Report on Form 10-Q pursuant to Securities and Exchange Commission rules and regulations. These financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Financial information reported in these financial statements is not necessarily indicative of the Company’s financial condition, results of operations, or cash flows for any other interim or annual period.

Certain prior period amounts have been reclassified to conform to the current period presentation. These changes in presentation did not have a material impact on the Company's financial condition or operating results.

Use of Estimates

The accounting principles the Company follows and the methods for applying these principles conform to GAAP and general practices followed by the banking industry. These accounting principles require management to make estimates and assumptions about future events that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

Accounting Policies

There were no material changes or developments during the reporting period with respect to methodologies that the Company uses when applying what management believes are critical accounting policies and developing critical accounting estimates as disclosed in its Annual Report on Form 10-K for the year ended December 31, 2025.

Refer to Note 16 – Recent Accounting Pronouncements for a discussion of the prospective adoption of ASU 2025-08, “Financial Instruments – Credit Losses (Topic 326): Purchased Loans,” as of January 1, 2026 and a description of changes to our acquired loan accounting policy.
v3.26.1
Securities
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Securities

2. Securities

The following tables set forth the amortized cost, gross unrealized gains and losses, and estimated fair value of debt securities classified as available for sale and held to maturity at March 31, 2026 and December 31, 2025. Amortized cost of securities does not include accrued interest which is reflected in the accrued interest line item on the consolidated balance sheets totaling $33.6 million at March 31, 2026 and $31.7 million at December 31, 2025, respectively.

 

 

March 31, 2026

 

December 31, 2025

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Available for Sale

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

279,080

 

$

4,562

 

$

1,175

 

$

282,467

 

$

266,825

 

$

3,705

 

$

1,198

 

$

269,332

 

Municipal obligations

 

180,786

 

 

49

 

 

692

 

 

180,143

 

 

191,754

 

 

82

 

 

508

 

 

191,328

 

Residential mortgage-backed securities

 

2,567,467

 

 

6,254

 

 

240,316

 

 

2,333,405

 

 

2,620,980

 

 

11,643

 

 

256,994

 

 

2,375,629

 

Commercial mortgage-backed securities

 

3,218,115

 

 

6,457

 

 

84,252

 

 

3,140,320

 

 

3,217,663

 

 

10,530

 

 

144,868

 

 

3,083,325

 

Collateralized mortgage obligations

 

24,998

 

 

—

 

 

1,184

 

 

23,814

 

 

27,100

 

 

—

 

 

1,154

 

 

25,946

 

Corporate debt securities

 

17,000

 

 

—

 

 

763

 

 

16,237

 

 

17,000

 

 

37

 

 

680

 

 

16,357

 

  Total

$

6,287,446

 

$

17,322

 

$

328,382

 

$

5,976,386

 

$

6,341,322

 

$

25,997

 

$

405,402

 

$

5,961,917

 

 

 

 

March 31, 2026

 

December 31, 2025

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Held to Maturity

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

368,667

 

$

271

 

$

29,171

 

$

339,767

 

$

373,605

 

$

248

 

$

30,143

 

$

343,710

 

Municipal obligations

 

457,346

 

 

370

 

 

11,556

 

 

446,160

 

 

511,516

 

 

708

 

 

11,455

 

 

500,769

 

Residential mortgage-backed securities

 

480,249

 

 

—

 

 

35,764

 

 

444,485

 

 

497,338

 

 

—

 

 

34,239

 

 

463,099

 

Commercial mortgage-backed securities

 

728,004

 

 

—

 

 

48,510

 

 

679,494

 

 

731,329

 

 

—

 

 

46,455

 

 

684,874

 

Collateralized mortgage obligations

 

17,362

 

 

—

 

 

539

 

 

16,823

 

 

19,094

 

 

—

 

 

520

 

 

18,574

 

  Total

$

2,051,628

 

$

641

 

$

125,540

 

$

1,926,729

 

$

2,132,882

 

$

956

 

$

122,812

 

$

2,011,026

 

The following tables present the amortized cost and fair value of debt securities available for sale and held to maturity at March 31, 2026 by contractual maturity. Actual maturities will differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and collateral mortgage obligations.

Debt Securities Available for Sale

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

35,304

 

 

$

35,323

 

Due after one year through five years

 

 

1,382,114

 

 

 

1,360,911

 

Due after five years through ten years

 

 

2,091,263

 

 

 

2,020,407

 

Due after ten years

 

 

2,778,765

 

 

 

2,559,745

 

Total

 

$

6,287,446

 

 

$

5,976,386

 

 

Debt Securities Held to Maturity

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

139,208

 

 

$

138,554

 

Due after one year through five years

 

 

701,252

 

 

 

678,711

 

Due after five years through ten years

 

 

419,862

 

 

 

397,573

 

Due after ten years

 

 

791,306

 

 

 

711,891

 

Total

 

$

2,051,628

 

 

$

1,926,729

 

The Company held no securities classified as trading at March 31, 2026 and December 31, 2025.

In January 2026, the Company completed a restructuring of its available for sale investment securities portfolio, whereby lower-yielding securities with an amortized cost of $1.5 billion were sold and the proceeds were reinvested in higher-yielding securities. Certain securities that were sold were previously hedged in derivative instruments designated as fair value hedges of interest rate risk that were subsequently terminated. At the time of termination, the value of the swap was recorded as basis adjustment to the amortized cost of the underlying security. The basis adjustment is amortized as yield adjustment while the security is held, and affects the net gain or loss realized by the remaining unamortized basis adjustment when sold. The unamortized basis adjustment recognized in connection with this portfolio restructure reduced the net loss by approximately $50.4 million, resulting in a net realized loss of $98.6 million. Refer to Note 6 – Derivatives for a discussion of fair value hedges of interest rate risk.

The following table presents the proceeds from, gross gains on, and gross losses on sales of securities during the three months ended March 31, 2026 and 2025. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

Three Months Ended
March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Proceeds

 

$

1,414,258

 

 

$

—

 

Gross gains

 

 

7

 

 

 

—

 

Gross losses

 

 

98,602

 

 

 

—

 

Net loss

 

$

(98,595

)

 

$

—

 

Securities with carrying values totaling approximately $3.5 billion and $3.9 billion were pledged as collateral at March 31, 2026 and December 31, 2025, respectively, primarily to secure public deposits or securities sold under agreements to repurchase.

Credit Quality

The Company’s policy is to invest only in securities of investment grade quality. These investments are largely limited to U.S. agency securities and municipal securities. Management has concluded, based on the long history of no credit losses, that the expectation of nonpayment of the held to maturity securities carried at amortized cost is zero for securities that are backed by the full faith and credit of and/or guaranteed by the U.S. government. As such, no allowance for credit losses has been recorded for these securities. The municipal portfolio is analyzed separately for allowance for credit loss in accordance with the applicable guidance for each portfolio as noted below.

The Company evaluates credit impairment for individual securities available for sale whose fair value was below amortized cost with a more than inconsequential risk of default and where the Company had assessed whether the decline in fair value was significant enough to suggest a credit event occurred. There were no securities with a material credit loss event and, therefore, no allowance for credit loss was recorded in any period presented.

The fair value and gross unrealized losses for securities classified as available for sale with unrealized losses for the periods indicated follow.

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

11,910

 

$

101

 

 

$

6,708

 

$

1,074

 

 

$

18,618

 

$

1,175

 

Municipal obligations

 

 

47,068

 

 

400

 

 

 

95,944

 

 

292

 

 

 

143,012

 

 

692

 

Residential mortgage-backed securities

 

 

395,000

 

 

3,778

 

 

 

1,283,981

 

 

236,538

 

 

 

1,678,981

 

 

240,316

 

Commercial mortgage-backed securities

 

 

1,758,136

 

 

19,383

 

 

 

829,335

 

 

64,869

 

 

 

2,587,471

 

 

84,252

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

23,814

 

 

1,184

 

 

 

23,814

 

 

1,184

 

Corporate debt securities

 

 

2,989

 

 

11

 

 

 

13,248

 

 

752

 

 

 

16,237

 

 

763

 

  Total

 

$

2,215,103

 

$

23,673

 

 

$

2,253,030

 

$

304,709

 

 

$

4,468,133

 

$

328,382

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

17,468

 

$

9

 

 

$

14,677

 

$

1,189

 

 

$

32,145

 

$

1,198

 

Municipal obligations

 

 

—

 

 

—

 

 

 

124,852

 

 

508

 

 

 

124,852

 

 

508

 

Residential mortgage-backed securities

 

 

54,250

 

 

598

 

 

 

1,442,746

 

 

256,396

 

 

 

1,496,996

 

 

256,994

 

Commercial mortgage-backed securities

 

 

374,740

 

 

1,787

 

 

 

2,158,865

 

 

143,081

 

 

 

2,533,605

 

 

144,868

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

25,946

 

 

1,154

 

 

 

25,946

 

 

1,154

 

Corporate debt securities

 

 

1,998

 

 

2

 

 

 

11,322

 

 

678

 

 

 

13,320

 

 

680

 

  Total

 

$

448,456

 

$

2,396

 

 

$

3,778,408

 

$

403,006

 

 

$

4,226,864

 

$

405,402

 

At each reporting period, the Company evaluated its held to maturity municipal obligation portfolio for credit loss using probability of default and loss given default models. The models were run using a long-term average probability of default migration and with a probability weighting of Moody’s economic forecasts. The resulting credit losses, if any, were negligible and no allowance for credit loss was recorded.

The fair value and gross unrealized losses for securities classified as held to maturity with unrealized losses for the periods indicated follow.

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

8,563

 

$

24

 

 

$

313,146

 

$

29,147

 

 

$

321,709

 

$

29,171

 

Municipal obligations

 

 

101,661

 

 

305

 

 

 

171,360

 

 

11,251

 

 

 

273,021

 

 

11,556

 

Residential mortgage-backed securities

 

 

—

 

 

—

 

 

 

444,485

 

 

35,764

 

 

 

444,485

 

 

35,764

 

Commercial mortgage-backed securities

 

 

—

 

 

—

 

 

 

679,494

 

 

48,510

 

 

 

679,494

 

 

48,510

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

16,823

 

 

539

 

 

 

16,823

 

 

539

 

  Total

 

$

110,224

 

$

329

 

 

$

1,625,308

 

$

125,211

 

 

$

1,735,532

 

$

125,540

 

 

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

—

 

$

—

 

 

$

316,814

 

$

30,143

 

 

$

316,814

 

$

30,143

 

Municipal obligations

 

 

98,559

 

 

97

 

 

 

325,241

 

 

11,358

 

 

 

423,800

 

 

11,455

 

Residential mortgage-backed securities

 

 

—

 

 

—

 

 

 

463,099

 

 

34,239

 

 

 

463,099

 

 

34,239

 

Commercial mortgage-backed securities

 

 

—

 

 

—

 

 

 

684,874

 

 

46,455

 

 

 

684,874

 

 

46,455

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

18,574

 

 

520

 

 

 

18,574

 

 

520

 

  Total

 

$

98,559

 

$

97

 

 

$

1,808,602

 

$

122,715

 

 

$

1,907,161

 

$

122,812

 

As of March 31, 2026 and December 31, 2025, the Company had 592 and 604 securities, respectively, with market values below their cost basis. There were no material unrealized losses related to the marketability of the securities or the issuer’s ability to meet contractual obligations. In all cases, the indicated impairment on these debt securities would be recovered no later than the security’s maturity date or possibly earlier if the market price for the security increases with a reduction in the yield required by the market. The unrealized losses were deemed to be non-credit related at March 31, 2026 and December 31, 2025. At March 31, 2026, the Company had adequate liquidity and, therefore, neither planned nor expected to be required to liquidate these securities before recovery of the amortized cost basis.
v3.26.1
Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Loans and Allowance for Credit Losses

3. Loans and Allowance for Credit Losses

The Company generally makes loans in its market areas of southern and central Mississippi; southern and central Alabama; northwest, central and southern Louisiana; the northern, central and panhandle regions of Florida; certain areas of east and northeast Texas; and the metropolitan areas of Nashville, Tennessee and Atlanta, Georgia. In addition, and to a lesser degree, the Bank makes loans both regionally and nationally, generally through its specialty lines of business, including the equipment finance, commercial real estate and healthcare segments, often with sponsors in our market areas.

The following table presents loans at their amortized cost basis, by portfolio class at March 31, 2026 and December 31, 2025. The amortized cost basis is net of unearned income and excludes accrued interest totaling $105.8 million and $105.1 million at March 31, 2026 and December 31, 2025, respectively. Accrued interest is reflected in the accrued interest line item in the Consolidated Balance Sheets.

 

 

March 31,

 

 

December 31,

 

($ in thousands)

 

2026

 

 

2025

 

Commercial non-real estate

 

$

9,710,891

 

 

$

9,809,011

 

Commercial real estate - owner occupied

 

 

3,299,867

 

 

 

3,270,080

 

Total commercial and industrial

 

 

13,010,758

 

 

 

13,079,091

 

Commercial real estate - income producing

 

 

4,382,665

 

 

 

4,283,168

 

Construction and land development

 

 

1,320,224

 

 

 

1,239,086

 

Residential mortgages

 

 

3,950,154

 

 

 

4,016,917

 

Consumer

 

 

1,328,039

 

 

 

1,340,178

 

Total loans

 

$

23,991,840

 

 

$

23,958,440

 

The following briefly describes the composition of each loan category and portfolio class.

Commercial and industrial

Commercial and industrial loans are made available to businesses for working capital (including financing of inventory and receivables), for business expansion, facilitating the acquisition of a business, and for the purchase of equipment and machinery, including equipment leasing. These loans are primarily made based on the identified cash flows of the borrower and, when secured, have the added strength of the underlying collateral.

Commercial non-real estate loans may be secured by the assets being financed or other tangible or intangible business assets such as accounts receivable, inventory, ownership, enterprise value or commodity interests, and may incorporate a personal or corporate guarantee; however, some short-term loans may be made on an unsecured basis, including a small portfolio of corporate credit cards, generally issued as a part of overall customer relationships.

Commercial real estate – owner occupied loans consist of commercial mortgages on properties where repayment is generally dependent on the cash flow from the ongoing operations and activities of the borrower. Like commercial non-real estate, these loans are primarily made based on the identified cash flows of the borrower, but also have the added strength of the value of underlying real estate collateral.

Commercial real estate – income producing

Commercial real estate – income producing loans consist of loans secured by commercial mortgages on properties where the loan is made to real estate developers or investors and repayment is dependent on the sale, refinance, or income generated from the operation of the property. Properties financed include multifamily, retail, healthcare related facilities, industrial, office, hotel/motel and restaurants, and other commercial properties.

Construction and land development

Construction and land development loans are made to facilitate the acquisition, development, improvement and construction of both commercial and residential-purpose properties. Such loans are made to builders and investors where repayment is expected to be made from the sale, refinance or operation of the property or to businesses to be used in their business operations. This portfolio also includes residential construction loans and loans secured by raw land not yet under development.

Residential mortgages

Residential mortgages consist of closed-end loans secured by first liens on 1-4 family residential properties. The portfolio includes both fixed and adjustable rate loans, although most longer-term, fixed rate loans originated are sold in the secondary mortgage market.

Consumer

Consumer loans include second lien mortgage home loans, home equity lines of credit and nonresidential consumer purpose loans. Nonresidential consumer loans are made to finance the purchase of personal property, including automobiles, recreational vehicles and boats, and for other personal purposes (secured and unsecured), and also include deposit account secured loans. Consumer loans also include a small portfolio of credit card receivables issued on the basis of applications received through referrals from the Bank’s branches, online and other marketing efforts.

Allowance for Credit Losses

The calculation of the allowance for credit losses is performed using two primary approaches: a collective approach for pools of loans that have similar risk characteristics using a loss rate analysis, and a specific reserve analysis for credits individually evaluated. The allowance for credit losses for collectively evaluated portfolios is developed using multiple Moody’s macroeconomic forecasts applied to internally developed credit models for a two-year reasonable and supportable period. For additional information on our allowance for credit loss methodology, refer to Note 1 – Summary of Significant Accounting Policies and Recent Accounting Pronouncements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The following tables present activity in the allowance for credit losses by portfolio class for the three months ended March 31, 2026 and 2025, as well as the allowance for credit loss by primary calculation method at the end of each period.

 

 

 

 

Commercial

 

Total

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial

 

Real Estate-

 

Commercial

 

Real Estate-

 

Construction

 

 

 

 

 

 

 

 

Non-Real

 

Owner

 

and

 

Income

 

and Land

 

Residential

 

 

 

 

 

($ in thousands)

Estate

 

Occupied

 

Industrial

 

Producing

 

Development

 

Mortgages

 

Consumer

 

Total

 

 

Three Months Ended March 31, 2026

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

Beginning balance

$

121,439

 

$

40,695

 

$

162,134

 

$

60,475

 

$

17,450

 

$

42,834

 

$

24,838

 

$

307,731

 

Charge-offs

 

(8,506

)

 

(8

)

 

(8,514

)

 

—

 

 

(219

)

 

(250

)

 

(4,410

)

 

(13,393

)

Recoveries

 

1,123

 

 

142

 

 

1,265

 

 

3

 

 

1

 

 

71

 

 

917

 

 

2,257

 

Net provision for loan losses

 

13,433

 

 

2,901

 

 

16,334

 

 

(3,363

)

 

478

 

 

(1,089

)

 

2,361

 

 

14,721

 

Ending balance - allowance for loan losses

$

127,489

 

$

43,730

 

$

171,219

 

$

57,115

 

$

17,710

 

$

41,566

 

$

23,706

 

$

311,316

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

12,639

 

$

371

 

$

13,010

 

$

1,005

 

$

17,949

 

$

3

 

$

1,961

 

$

33,928

 

Provision for losses on unfunded commitments

 

(1,292

)

 

(48

)

 

(1,340

)

 

(183

)

 

86

 

 

(2

)

 

(110

)

 

(1,549

)

Ending balance - reserve for unfunded lending commitments

 

11,347

 

 

323

 

 

11,670

 

 

822

 

 

18,035

 

 

1

 

 

1,851

 

 

32,379

 

Total allowance for credit losses

$

138,836

 

$

44,053

 

$

182,889

 

$

57,937

 

$

35,745

 

$

41,567

 

$

25,557

 

$

343,695

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

$

10,947

 

$

—

 

$

10,947

 

$

—

 

$

—

 

$

234

 

$

52

 

$

11,233

 

Collectively evaluated

$

127,889

 

$

44,053

 

$

171,942

 

$

57,937

 

$

35,745

 

$

41,333

 

$

25,505

 

$

332,462

 

The allowance for credit losses at March 31, 2026 reflects a modest net increase in the funded reserve partially offset by a small decline in the unfunded reserve, largely driven by the commercial portfolio. In arriving at the allowance for credit losses at March 31, 2026, the Company weighted Moody’s March 2026 baseline economic forecast at 40%, and the downside mild recessionary S-2 scenario at 60%. The March 2026 baseline scenario, which Moody’s defines as the most likely outcome of where the economy is headed based on current conditions, reflects moderate GDP growth, stable unemployment, and generally stable business bankruptcy trends. The S-2 scenario assumes heightened geopolitical and trade disruptions, higher and sustained tariffs, elevated oil prices and increased global uncertainty, triggering a mild recession beginning in the second quarter of 2026, and lasting for three quarters.

 

 

 

 

 

Commercial

 

Total

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial

 

Real Estate-

 

Commercial

 

Real Estate-

 

Construction

 

 

 

 

 

 

 

 

Non-Real

 

Owner

 

and

 

Income

 

and Land

 

Residential

 

 

 

 

 

($ in thousands)

Estate

 

Occupied

 

Industrial

 

Producing

 

Development

 

Mortgages

 

Consumer

 

Total

 

 

Three Months Ended March 31, 2025

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

121,090

 

$

36,264

 

$

157,354

 

$

71,975

 

$

21,158

 

$

42,445

 

$

25,950

 

$

318,882

 

Charge-offs

 

(6,132

)

 

(2,741

)

 

(8,873

)

 

(34

)

 

(8

)

 

(167

)

 

(4,211

)

 

(13,293

)

Recoveries

 

1,650

 

 

95

 

 

1,745

 

 

—

 

 

110

 

 

387

 

 

804

 

 

3,046

 

Net provision for loan losses

 

5,607

 

 

2,515

 

 

8,122

 

 

(1,562

)

 

(1,052

)

 

535

 

 

3,441

 

 

9,484

 

Ending balance - allowance for loan losses

$

122,215

 

$

36,133

 

$

158,348

 

$

70,379

 

$

20,208

 

$

43,200

 

$

25,984

 

$

318,119

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

6,441

 

$

309

 

$

6,750

 

$

642

 

$

14,639

 

$

4

 

$

2,018

 

$

24,053

 

Provision for losses on unfunded commitments

 

515

 

 

(13

)

 

502

 

 

(198

)

 

696

 

 

(1

)

 

(21

)

 

978

 

Ending balance - reserve for unfunded lending commitments

 

6,956

 

 

296

 

 

7,252

 

 

444

 

 

15,335

 

 

3

 

 

1,997

 

 

25,031

 

Total allowance for credit losses

$

129,171

 

$

36,429

 

$

165,600

 

$

70,823

 

$

35,543

 

$

43,203

 

$

27,981

 

$

343,150

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

$

10,406

 

$

49

 

$

10,455

 

$

—

 

$

—

 

$

752

 

$

197

 

$

11,404

 

Collectively evaluated

$

118,765

 

$

36,380

 

$

155,145

 

$

70,823

 

$

35,543

 

$

42,451

 

$

27,784

 

$

331,746

 

 

The allowance for credit losses at March 31, 2025 compared to December 31, 2024, remained relatively flat across most portfolios, with a modest net increase in total reserve coverage to total loans. In arriving at the allowance for credit losses at March 31, 2025, the Company weighted the baseline economic forecast at 40% and the downside mild recessionary S-2 scenario at 60%.

Nonaccrual Loans and Certain Reportable Modified Loan Disclosures

The following table shows the composition of nonaccrual loans and those without an allowance for loan losses, by portfolio class at March 31, 2026 and December 31, 2025.

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

December 31, 2025

 

($ in thousands)

Total Nonaccrual

 

Nonaccrual Without Allowance for Loan Loss

 

Total Nonaccrual

 

Nonaccrual Without Allowance for Loan Loss

 

Commercial non-real estate

$

41,381

 

$

5,302

 

$

34,525

 

$

3,294

 

Commercial real estate - owner occupied

 

5,930

 

 

2,810

 

 

6,723

 

 

1,470

 

Total commercial and industrial

 

47,311

 

 

8,112

 

 

41,248

 

 

4,764

 

Commercial real estate - income producing

 

2,010

 

 

1,326

 

 

4,760

 

 

5,114

 

Construction and land development

 

1,028

 

 

—

 

 

3,173

 

 

2,178

 

Residential mortgages

 

51,262

 

 

1,076

 

 

46,986

 

 

2,511

 

Consumer

 

11,732

 

 

167

 

 

10,703

 

 

316

 

Total

$

113,343

 

$

10,681

 

$

106,870

 

$

14,883

 

 

As a part of our loss mitigation efforts, we may provide modifications to borrowers experiencing financial difficulty to improve long-term collectability of the loans and to avoid the need for repossession or foreclosure of collateral. Nonaccrual loans include reportable nonaccruing modified loans to borrowers experiencing financial difficulty (“MEFDs”) totaling $14.3 million and $5.8 million at March 31, 2026 and December 31, 2025, respectively. Total reportable MEFDs, both accruing and nonaccruing, were $142.8 million and $162.8 million at March 31, 2026 and December 31, 2025, respectively. Unfunded commitments to borrowers whose terms have been modified as a reportable MEFD were $10.1 million and $7.2 million at March 31, 2026 and December 31, 2025, respectively.

The tables below provide detail by portfolio class for reportable MEFDs entered into during the three months ended March 31, 2026 and 2025. Modified facilities are reported using the balance at the end of each period reported and are reflected only once in each table based on the type of modification or combination of modification.

 

Three Months Ended March 31, 2026

 

 

Term Extension

 

Significant Payment Delay

 

Term Extensions and
Significant Payment Delay

 

Other(1)

 

($ in thousands)

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Commercial non-real estate

$

3,471

 

 

0.04

%

$

16,305

 

 

0.17

%

$

7,425

 

 

0.08

%

$

—

 

 

—

 

Commercial real estate - owner occupied

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total commercial and industrial

 

3,471

 

 

0.03

%

 

16,305

 

 

0.13

%

 

7,425

 

 

0.06

%

 

—

 

 

—

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Residential mortgages

 

3,949

 

 

0.10

%

 

—

 

 

—

 

 

—

 

 

—

 

 

263

 

 

0.01

%

Consumer

 

31

 

 

0.00

%

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total reportable modified loans

$

7,451

 

 

0.03

%

$

16,305

 

 

0.07

%

$

7,425

 

 

0.03

%

$

263

 

 

0.00

%
(1)
Includes a combination of interest rate reduction and term extension.

 

 

Three Months Ended March 31, 2025

 

 

Term Extension

 

Significant Payment Delay

 

Term Extensions and
Significant Payment Delay

 

Other

 

($ in thousands)

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Commercial non-real estate

$

44,700

 

 

0.46

%

$

197

 

 

0.00

%

$

—

 

 

—

 

$

—

 

 

—

 

Commercial real estate - owner occupied

 

366

 

 

0.01

%

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total commercial and industrial

 

45,066

 

 

0.36

%

 

197

 

 

0.00

%

 

—

 

 

—

 

 

—

 

 

—

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Residential mortgages

 

13,167

 

 

0.33

%

 

412

 

 

0.01

%

 

—

 

 

—

 

 

—

 

 

—

 

Consumer

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total reportable modified loans

$

58,233

 

 

0.25

%

$

609

 

 

0.00

%

$

—

 

 

—

 

$

—

 

 

—

 

For the three months ended March 31, 2026, reportable modifications to borrowers experiencing financial difficulty consisted of weighted average term extensions totaling approximately eighteen months for commercial loans, two years for residential mortgage loans and five years for consumer loans. The weighted average term of other than insignificant payment delays was sixteen months for commercial loans. In addition, the weighted-average interest rate reduction for residential loans during the period was 164 basis points. Term extensions and payment delays are considered other than insignificant when they exceed six months when considering other modifications made in the prior twelve months.

Reportable modifications to borrowers experiencing financial difficulty during the three months ended March 31, 2025 consisted of weighted average term extensions totaling approximately five months for commercial loans and one year for residential mortgage loans. The weighted average term of other than insignificant payment delays was five months for commercial loans and one month for residential mortgage loans during the three months ended March 31, 2025.

The tables that follow present the aging analysis of reportable modifications to borrowers experiencing financial difficulty by portfolio class at March 31, 2026 and December 31, 2025.

March 31, 2026

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total Reportable
Modified Loans

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

9,850

 

$

543

 

$

5,069

 

$

15,462

 

$

72,194

 

$

87,656

 

Commercial real estate - owner occupied

 

—

 

 

23,128

 

 

5,569

 

 

28,697

 

 

231

 

 

28,928

 

Total commercial and industrial

 

9,850

 

 

23,671

 

 

10,638

 

 

44,159

 

 

72,425

 

 

116,584

 

Commercial real estate - income producing

 

—

 

 

1,217

 

 

1,705

 

 

2,922

 

 

11,035

 

 

13,957

 

Construction and land development

 

—

 

 

—

 

 

147

 

 

147

 

 

—

 

 

147

 

Residential mortgages

 

300

 

 

2,226

 

 

27

 

 

2,553

 

 

9,127

 

 

11,680

 

Consumer

 

—

 

 

—

 

 

148

 

 

148

 

 

251

 

 

399

 

Total reportable modified loans

$

10,150

 

$

27,114

 

$

12,665

 

$

49,929

 

$

92,838

 

$

142,767

 

 

December 31, 2025

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total Reportable
Modified Loans

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

—

 

$

27,670

 

$

734

 

$

28,404

 

$

74,911

 

$

103,315

 

Commercial real estate - owner occupied

 

—

 

 

—

 

 

—

 

 

—

 

 

28,939

 

 

28,939

 

Total commercial and industrial

 

—

 

 

27,670

 

 

734

 

 

28,404

 

 

103,850

 

 

132,254

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

14,914

 

 

14,914

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

147

 

 

147

 

Residential mortgages

 

1,285

 

 

416

 

 

—

 

 

1,701

 

 

13,458

 

 

15,159

 

Consumer

 

—

 

 

—

 

 

148

 

 

148

 

 

227

 

 

375

 

Total reportable modified loans

$

1,285

 

$

28,086

 

$

882

 

$

30,253

 

$

132,596

 

$

162,849

 

There were six loans to commercial borrowers totaling $40.1 million and one loan to a residential borrower totaling $27 thousand with reportable term extensions that had post modification payment defaults during the three months ended March 31, 2026. There were two loans to commercial borrowers totaling $1.9 million, with reportable term extensions and/or significant payment delays and interest rate reduction modifications that had post modification payment defaults during the three months ended March 31, 2025. A payment default occurs if the loan is either 90 days or more delinquent or has been charged off as of the end of the period presented.

Aging Analysis

The tables below present the aging analysis of past due loans by portfolio class at March 31, 2026 and December 31, 2025.

March 31, 2026

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days and
Still Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

28,794

 

$

18,882

 

$

44,631

 

$

92,307

 

$

9,618,584

 

$

9,710,891

 

$

15,105

 

Commercial real estate - owner occupied

 

5,432

 

 

26,986

 

 

13,311

 

 

45,729

 

 

3,254,138

 

 

3,299,867

 

 

8,235

 

Total commercial and industrial

 

34,226

 

 

45,868

 

 

57,942

 

 

138,036

 

 

12,872,722

 

 

13,010,758

 

 

23,340

 

Commercial real estate - income producing

 

15,891

 

 

1,360

 

 

5,842

 

 

23,093

 

 

4,359,572

 

 

4,382,665

 

 

4,312

 

Construction and land development

 

3,189

 

 

247

 

 

1,090

 

 

4,526

 

 

1,315,698

 

 

1,320,224

 

 

147

 

Residential mortgages

 

52,593

 

 

13,821

 

 

27,965

 

 

94,379

 

 

3,855,775

 

 

3,950,154

 

 

70

 

Consumer

 

9,215

 

 

3,699

 

 

9,042

 

 

21,956

 

 

1,306,083

 

 

1,328,039

 

 

2,016

 

Total loans

$

115,114

 

$

64,995

 

$

101,881

 

$

281,990

 

$

23,709,850

 

$

23,991,840

 

$

29,885

 

 

 

December 31, 2025

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days and
Still Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

19,008

 

$

43,316

 

$

39,954

 

$

102,278

 

$

9,706,733

 

$

9,809,011

 

$

20,358

 

Commercial real estate - owner occupied

 

15,013

 

 

308

 

 

7,609

 

 

22,930

 

 

3,247,150

 

 

3,270,080

 

 

1,586

 

Total commercial and industrial

 

34,021

 

 

43,624

 

 

47,563

 

 

125,208

 

 

12,953,883

 

 

13,079,091

 

 

21,944

 

Commercial real estate - income producing

 

990

 

 

2,806

 

 

7,177

 

 

10,973

 

 

4,272,195

 

 

4,283,168

 

 

2,928

 

Construction and land development

 

1,754

 

 

564

 

 

3,488

 

 

5,806

 

 

1,233,280

 

 

1,239,086

 

 

565

 

Residential mortgages

 

42,302

 

 

17,984

 

 

34,656

 

 

94,942

 

 

3,921,975

 

 

4,016,917

 

 

116

 

Consumer

 

9,284

 

 

4,675

 

 

9,839

 

 

23,798

 

 

1,316,380

 

 

1,340,178

 

 

3,245

 

Total loans

$

88,351

 

$

69,653

 

$

102,723

 

$

260,727

 

$

23,697,713

 

$

23,958,440

 

$

28,798

 

Credit Quality Indicators

The following tables present the credit quality indicators by segment and portfolio class of loans at March 31, 2026 and December 31, 2025.

 

March 31, 2026

 

($ in thousands)

Commercial
Non-Real
Estate

 

Commercial
Real Estate -
Owner-
Occupied

 

Total
Commercial
and Industrial

 

Commercial
Real Estate -
Income
Producing

 

Construction
and Land
Development

 

Total
Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,122,647

 

$

3,116,895

 

$

12,239,542

 

$

4,127,601

 

$

1,273,603

 

$

17,640,746

 

Pass-Watch

 

227,071

 

 

97,386

 

 

324,457

 

 

210,336

 

 

15,909

 

 

550,702

 

Special Mention

 

68,294

 

 

15,602

 

 

83,896

 

 

8,240

 

 

28,056

 

 

120,192

 

Substandard

 

292,879

 

 

69,984

 

 

362,863

 

 

36,488

 

 

2,656

 

 

402,007

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

9,710,891

 

$

3,299,867

 

$

13,010,758

 

$

4,382,665

 

$

1,320,224

 

$

18,713,647

 

 

 

December 31, 2025

 

($ in thousands)

Commercial
Non-Real
Estate

 

Commercial
Real Estate -
Owner-
Occupied

 

Total
Commercial
and Industrial

 

Commercial
Real Estate -
Income
Producing

 

Construction
and Land
Development

 

Total
Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,180,624

 

$

3,064,325

 

$

12,244,949

 

$

4,035,415

 

$

1,170,834

 

$

17,451,198

 

Pass-Watch

 

266,120

 

 

123,373

 

 

389,493

 

 

189,994

 

 

35,305

 

 

614,792

 

Special Mention

 

88,729

 

 

23,195

 

 

111,924

 

 

8,251

 

 

28,208

 

 

148,383

 

Substandard

 

273,538

 

 

59,187

 

 

332,725

 

 

49,508

 

 

4,739

 

 

386,972

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

9,809,011

 

$

3,270,080

 

$

13,079,091

 

$

4,283,168

 

$

1,239,086

 

$

18,601,345

 

 

 

 

March 31, 2026

 

 

December 31, 2025

 

($ in thousands)

 

Residential
Mortgage

 

 

Consumer

 

 

Total

 

 

Residential
Mortgage

 

 

Consumer

 

 

Total

 

Performing

 

$

3,898,892

 

 

$

1,316,307

 

 

$

5,215,199

 

 

$

3,969,931

 

 

$

1,329,475

 

 

$

5,299,406

 

Nonperforming

 

 

51,262

 

 

 

11,732

 

 

 

62,994

 

 

 

46,986

 

 

 

10,703

 

 

 

57,689

 

Total

 

$

3,950,154

 

 

$

1,328,039

 

 

$

5,278,193

 

 

$

4,016,917

 

 

$

1,340,178

 

 

$

5,357,095

 

 

The Company routinely assesses the ratings of loans in its portfolio through an established and comprehensive portfolio management process. Below are the definitions of the Company’s internally assigned grades:

Commercial:

•
Pass – loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk.
•
Pass-Watch – credits in this category are of sufficient risk to cause concern. This category is reserved for credits that display negative performance trends. The “Watch” grade should be regarded as a transition category.
•
Special Mention – a criticized asset category defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the institution’s credit position. Special mention credits are not considered part of the classified credit categories and do not expose the institution to sufficient risk to warrant adverse classification.
•
Substandard – an asset that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
•
Doubtful – an asset that has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
•
Loss – credits classified as loss are considered uncollectable and are charged off promptly once so classified.

Residential and Consumer:

•
Performing – accruing loans.
•
Nonperforming – loans for which there are good reasons to doubt that payments will be made in full. Nonperforming loans include all loans with nonaccrual status.

Vintage Analysis

The following tables present credit quality disclosures of amortized cost by class and vintage for term loans and by revolving and revolving converted to amortizing at March 31, 2026 and December 31, 2025. The Company defines vintage as the later of origination, renewal or modification date. The gross charge-offs presented in the tables that follow are for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

Term Loans

 

 

 

Revolving Loans

 

 

 

March 31, 2026

Amortized Cost Basis by Origination Year

 

Revolving

 

Converted to

 

 

 

 ($ in thousands)

2026

 

2025

 

2024

 

2023

 

2022

 

Prior

 

Loans

 

Term Loans

 

Total

 

Commercial Non-Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

486,599

 

$

1,850,898

 

$

1,020,799

 

$

664,963

 

$

742,221

 

$

1,291,012

 

$

2,961,563

 

$

104,592

 

$

9,122,647

 

Pass-Watch

 

253

 

 

21,467

 

 

16,094

 

 

34,761

 

 

30,484

 

 

49,044

 

 

73,504

 

 

1,464

 

 

227,071

 

Special Mention

 

—

 

 

3,871

 

 

12,835

 

 

4,857

 

 

25,181

 

 

8,209

 

 

12,096

 

 

1,245

 

 

68,294

 

Substandard

 

6,349

 

 

8,709

 

 

14,703

 

 

75,446

 

 

70,940

 

 

31,809

 

 

77,583

 

 

7,340

 

 

292,879

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

493,201

 

$

1,884,945

 

$

1,064,431

 

$

780,027

 

$

868,826

 

$

1,380,074

 

$

3,124,746

 

$

114,641

 

$

9,710,891

 

Gross Charge-offs

$

—

 

$

133

 

$

283

 

$

4,363

 

$

387

 

$

2,239

 

$

474

 

$

627

 

$

8,506

 

Commercial Real Estate - Owner Occupied:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

143,915

 

$

618,064

 

$

376,479

 

$

350,264

 

$

452,448

 

$

1,116,223

 

$

58,888

 

$

614

 

$

3,116,895

 

Pass-Watch

 

1,146

 

 

26,994

 

 

9,420

 

 

1,881

 

 

32,074

 

 

25,256

 

 

615

 

 

—

 

 

97,386

 

Special Mention

 

—

 

 

2,357

 

 

1,099

 

 

638

 

 

6,250

 

 

5,258

 

 

—

 

 

—

 

 

15,602

 

Substandard

 

—

 

 

4,156

 

 

806

 

 

7,081

 

 

20,804

 

 

36,893

 

 

244

 

 

—

 

 

69,984

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

145,061

 

$

651,571

 

$

387,804

 

$

359,864

 

$

511,576

 

$

1,183,630

 

$

59,747

 

$

614

 

$

3,299,867

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

8

 

$

—

 

$

—

 

$

—

 

$

8

 

Commercial Real Estate - Income Producing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

255,347

 

$

1,055,337

 

$

477,210

 

$

515,599

 

$

674,686

 

$

1,084,031

 

$

65,341

 

$

50

 

$

4,127,601

 

Pass-Watch

 

—

 

 

81,629

 

 

130

 

 

952

 

 

93,495

 

 

33,077

 

 

1,053

 

 

—

 

 

210,336

 

Special Mention

 

—

 

 

7,955

 

 

—

 

 

285

 

 

—

 

 

—

 

 

—

 

 

—

 

 

8,240

 

Substandard

 

—

 

 

1,086

 

 

—

 

 

3,933

 

 

11,191

 

 

18,900

 

 

1,378

 

 

—

 

 

36,488

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

255,347

 

$

1,146,007

 

$

477,340

 

$

520,769

 

$

779,372

 

$

1,136,008

 

$

67,772

 

$

50

 

$

4,382,665

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Construction and Land Development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

71,790

 

$

430,756

 

$

328,254

 

$

191,007

 

$

45,730

 

$

87,764

 

$

113,764

 

$

4,538

 

$

1,273,603

 

Pass-Watch

 

—

 

 

3,651

 

 

436

 

 

1,769

 

 

2,498

 

 

277

 

 

7,278

 

 

—

 

 

15,909

 

Special Mention

 

—

 

 

—

 

 

—

 

 

—

 

 

27,947

 

 

109

 

 

—

 

 

—

 

 

28,056

 

Substandard

 

—

 

 

149

 

 

180

 

 

1,535

 

 

333

 

 

416

 

 

43

 

 

—

 

 

2,656

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

71,790

 

$

434,556

 

$

328,870

 

$

194,311

 

$

76,508

 

$

88,566

 

$

121,085

 

$

4,538

 

$

1,320,224

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

218

 

$

1

 

$

—

 

$

—

 

$

219

 

Residential Mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

56,722

 

$

324,309

 

$

125,804

 

$

379,349

 

$

1,018,788

 

$

1,990,972

 

$

2,948

 

$

—

 

$

3,898,892

 

Nonperforming

 

—

 

 

627

 

 

1,963

 

 

12,620

 

 

13,197

 

 

22,855

 

 

—

 

 

—

 

 

51,262

 

Total

$

56,722

 

$

324,936

 

$

127,767

 

$

391,969

 

$

1,031,985

 

$

2,013,827

 

$

2,948

 

$

—

 

$

3,950,154

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

190

 

$

—

 

$

60

 

$

—

 

$

—

 

$

250

 

Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

28,083

 

$

28,414

 

$

22,110

 

$

19,650

 

$

15,463

 

$

73,494

 

$

1,117,658

 

$

11,435

 

$

1,316,307

 

Nonperforming

 

—

 

 

45

 

 

267

 

 

1,334

 

 

1,336

 

 

7,318

 

 

362

 

 

1,070

 

 

11,732

 

Total

$

28,083

 

$

28,459

 

$

22,377

 

$

20,984

 

$

16,799

 

$

80,812

 

$

1,118,020

 

$

12,505

 

$

1,328,039

 

Gross Charge-offs

$

—

 

$

59

 

$

266

 

$

272

 

$

291

 

$

135

 

$

2,926

 

$

461

 

$

4,410

 

 

 

Term Loans

 

 

 

Revolving Loans

 

 

 

December 31, 2025

Amortized Cost Basis by Origination Year

 

Revolving

 

Converted to

 

 

 

 ($ in thousands)

2025

 

2024

 

2023

 

2022

 

2021

 

Prior

 

Loans

 

Term Loans

 

Total

 

Commercial Non-Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

2,030,587

 

$

1,164,266

 

$

711,218

 

$

812,902

 

$

525,095

 

$

891,032

 

$

2,955,174

 

$

90,350

 

$

9,180,624

 

Pass-Watch

 

24,737

 

 

27,477

 

 

39,683

 

 

33,385

 

 

12,896

 

 

18,064

 

 

94,461

 

 

15,417

 

 

266,120

 

Special Mention

 

2,405

 

 

6,975

 

 

6,239

 

 

27,719

 

 

10,564

 

 

4,305

 

 

28,330

 

 

2,192

 

 

88,729

 

Substandard

 

13,738

 

 

6,450

 

 

81,228

 

 

87,745

 

 

11,275

 

 

6,798

 

 

51,619

 

 

14,685

 

 

273,538

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

2,071,467

 

$

1,205,168

 

$

838,368

 

$

961,751

 

$

559,830

 

$

920,199

 

$

3,129,584

 

$

122,644

 

$

9,809,011

 

Gross Charge-offs

$

4,798

 

$

2,718

 

$

15,397

 

$

2,888

 

$

74

 

$

531

 

$

3,722

 

$

15,436

 

$

45,564

 

Commercial Real Estate - Owner Occupied:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

616,536

 

$

401,399

 

$

312,006

 

$

461,247

 

$

459,700

 

$

711,509

 

$

51,600

 

$

50,328

 

$

3,064,325

 

Pass-Watch

 

26,766

 

 

6,397

 

 

2,746

 

 

43,060

 

 

14,187

 

 

27,591

 

 

2,506

 

 

120

 

 

123,373

 

Special Mention

 

2,371

 

 

2,202

 

 

1,008

 

 

12,024

 

 

5,054

 

 

293

 

 

195

 

 

48

 

 

23,195

 

Substandard

 

2,082

 

 

822

 

 

6,685

 

 

20,353

 

 

1,472

 

 

27,723

 

 

50

 

 

—

 

 

59,187

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

647,755

 

$

410,820

 

$

322,445

 

$

536,684

 

$

480,413

 

$

767,116

 

$

54,351

 

$

50,496

 

$

3,270,080

 

Gross Charge-offs

$

—

 

$

—

 

$

86

 

$

—

 

$

2,741

 

$

1,799

 

$

—

 

$

—

 

$

4,626

 

Commercial Real Estate - Income Producing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

1,110,044

 

$

416,052

 

$

519,955

 

$

724,326

 

$

549,335

 

$

649,996

 

$

64,217

 

$

1,490

 

$

4,035,415

 

Pass-Watch

 

22,429

 

 

15,606

 

 

4,219

 

 

101,959

 

 

4,277

 

 

40,381

 

 

1,123

 

 

—

 

 

189,994

 

Special Mention

 

7,962

 

 

—

 

 

289

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

8,251

 

Substandard

 

192

 

 

—

 

 

7,669

 

 

10,441

 

 

10,871

 

 

20,185

 

 

150

 

 

—

 

 

49,508

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

1,140,627

 

$

431,658

 

$

532,132

 

$

836,726

 

$

564,483

 

$

710,562

 

$

65,490

 

$

1,490

 

$

4,283,168

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

34

 

$

—

 

$

—

 

$

—

 

$

—

 

$

34

 

Construction and Land Development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

349,811

 

$

358,827

 

$

185,672

 

$

54,798

 

$

75,084

 

$

14,954

 

$

131,153

 

$

535

 

$

1,170,834

 

Pass-Watch

 

29,323

 

 

814

 

 

1,500

 

 

3,299

 

 

128

 

 

241

 

 

—

 

 

—

 

 

35,305

 

Special Mention

 

60

 

 

—

 

 

—

 

 

28,036

 

 

112

 

 

—

 

 

—

 

 

—

 

 

28,208

 

Substandard

 

72

 

 

185

 

 

1,665

 

 

2,560

 

 

135

 

 

122

 

 

—

 

 

—

 

 

4,739

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

379,266

 

$

359,826

 

$

188,837

 

$

88,693

 

$

75,459

 

$

15,317

 

$

131,153

 

$

535

 

$

1,239,086

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

1,297

 

$

—

 

$

17

 

$

—

 

$

—

 

$

1,314

 

Residential Mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

360,686

 

$

131,928

 

$

390,276

 

$

1,039,884

 

$

824,012

 

$

1,220,288

 

$

2,857

 

$

—

 

$

3,969,931

 

Nonperforming

 

371

 

 

2,300

 

 

10,582

 

 

10,244

 

 

6,335

 

 

17,154

 

 

—

 

 

—

 

 

46,986

 

Total

$

361,057

 

$

134,228

 

$

400,858

 

$

1,050,128

 

$

830,347

 

$

1,237,442

 

$

2,857

 

$

—

 

$

4,016,917

 

Gross Charge-offs

$

—

 

$

36

 

$

502

 

$

335

 

$

—

 

$

49

 

$

—

 

$

—

 

$

922

 

Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

50,512

 

$

24,693

 

$

22,963

 

$

18,103

 

$

8,928

 

$

47,131

 

$

1,123,471

 

$

33,674

 

$

1,329,475

 

Nonperforming

 

51

 

 

44

 

 

349

 

 

842

 

 

627

 

 

4,367

 

 

408

 

 

4,015

 

 

10,703

 

Total

$

50,563

 

$

24,737

 

$

23,312

 

$

18,945

 

$

9,555

 

$

51,498

 

$

1,123,879

 

$

37,689

 

$

1,340,178

 

Gross Charge-offs

$

85

 

$

952

 

$

1,104

 

$

1,277

 

$

528

 

$

695

 

$

9,228

 

$

2,137

 

$

16,006

 

Residential Mortgage Loans in Process of Foreclosure

Loans in process of foreclosure include those for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. Included in loans at both March 31, 2026 and December 31, 2025 were $12.0 million of loans secured by single family residential real estate that were in process of foreclosure. In addition to the single family residential real estate loans in process of foreclosure, the Company also held foreclosed single family residential properties in other real estate owned totaling $4.3 million and $5.1 million at March 31, 2026 and December 31, 2025, respectively.

Loans Held for Sale

Loans held for sale totaled $63.1 million and $33.2 million at March 31, 2026 and December 31, 2025, respectively. Loans held for sale is composed primarily of residential mortgage loans originated for sale in the secondary market and, at certain times, other loans originated for sale, generally through syndications. At March 31, 2026, residential mortgage loans carried at the fair value option totaled $36.5 million with an unpaid principal balance of $36.0 million. At December 31, 2025, residential mortgage loans carried at the fair value option totaled $33.2 million with an unpaid principal balance of $32.3 million. All other loans held for sale are carried at the lower of cost or market.

v3.26.1
Investments In Low Income Housing Tax Credit Entities
 3 Months Ended
Mar. 31, 2026
Investments, All Other Investments [Abstract]  
Investments In Low Income Housing Tax Credit Entities

4. Investments in Low Income Housing Tax Credit Entities

The Company invests in certain affordable housing project limited partnerships that are qualified low-income housing tax credit developments. These investments are considered variable interest entities for which the Company is not the primary beneficiary and, therefore, are not consolidated. These partnerships generate low-income tax credits that are earned over a 10-year period, beginning with the year the rental activity begins. The Company has elected to use the practical expedient method of amortization, which approximates the proportional amortization method, whereby the investment cost is amortized in proportion to the allocated tax credits over the 10 year tax credit period. Additionally, the Company recognizes deferred taxes on the basis difference of the tax equity investment to reflect the financial impact of other tax benefits (e.g., tax operating losses) not included in the practical expedient amortization. The tax credits, when realized, are reflected in the consolidated statements of income as a reduction of income tax expense. The Company’s investments in affordable housing limited partnerships totaled $37.5 million at both March 31, 2026 and December 31, 2025, with a carry balance net of accumulated amortization included in the other assets line item on our Consolidated Balance Sheets totaling $20.9 million and $21.8 million, respectively, for those same periods. The net impact of the low-income housing tax credit program was not material to our Consolidated Statements of Income or Cash Flows for the three months ended March 31, 2026 and 2025.
v3.26.1
Short Term Borrowings
 3 Months Ended
Mar. 31, 2026
Short-Term Debt [Abstract]  
Short Term Borrowings

5. Short-term Borrowings

Short-term borrowings include Federal Home Loan Bank (FHLB) advances totaling $700 million as of March 31, 2026 and $400 million as of December 31, 2025. At March 31, 2026, FHLB advances outstanding was comprised of five fixed-rate notes with a weighted average interest rate of 3.83% and maturity dates ranging from April 27, 2026 through August 31, 2026. At December 31, 2025, FHLB advances outstanding consisted of one fixed-rate note bearing interest at 3.62% entered into on December 31, 2025, that matured on January 2, 2026. As short-term advances mature, they are generally paid off and replaced with new short-term FHLB advances, if warranted, depending on funding needs.

Also included in short-term borrowings are securities sold under agreements to repurchase that mature daily and are secured by U.S. agency securities totaling $660.1 million and $546.9 million at March 31, 2026 and December 31, 2025, respectively. The Company borrows funds on a secured basis by selling securities under agreements to repurchase, mainly in connection with treasury management services offered to its deposit customers. As the Company maintains effective control over assets sold under agreements to repurchase, the securities continue to be carried on the consolidated statements of financial condition. Because the Company acts as borrower transferring assets to the counterparty, and the agreements mature daily, the Company’s risk is limited.

The remaining balances in short-term borrowings of $0.3 million at March 31, 2026 and $70.4 million at December 31, 2025, are federal funds purchased, which are unsecured borrowings from other banks, generally on an overnight basis.
v3.26.1
Derivatives
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives

6. Derivatives

Risk Management Objective of Using Derivatives

The Company enters into derivative financial instruments to manage risks related to differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments. The Bank also enters into interest rate derivative agreements as a service to certain qualifying customers. The Bank manages a matched book with respect to these customer derivatives in order to minimize its net interest rate risk exposure resulting from such agreements. In addition, the Bank also enters into risk participation agreements under which it may either sell or buy credit risk associated with a customer’s performance under certain interest rate derivative contracts related to loans in which participation interests have been sold to or purchased from other banks.

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the notional or contractual amounts and fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets at March 31, 2026 and December 31, 2025.

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

 

Notional or

 

 

 

 

Notional or

 

 

 

 

Type of

 

Contractual

 

Derivative (1)

 

 

Contractual

 

Derivative (1)

 

($ in thousands)

Hedge

 

Amount

 

Assets

 

Liabilities

 

 

Amount

 

Assets

 

Liabilities

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps - variable rate loans

Cash Flow

 

$

1,800,000

 

$

1,985

 

$

17,922

 

 

$

1,775,000

 

$

4,026

 

$

16,335

 

Interest rate swaps - securities

Fair Value

 

 

359,000

 

 

23,317

 

 

—

 

 

 

397,500

 

 

23,569

 

 

—

 

  Total derivatives designated as hedging instruments

 

 

$

2,159,000

 

$

25,302

 

$

17,922

 

 

$

2,172,500

 

$

27,595

 

$

16,335

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

N/A

 

$

5,492,800

 

$

69,195

 

$

69,323

 

 

$

5,308,711

 

$

73,725

 

$

73,829

 

Risk participation agreements

N/A

 

 

431,843

 

 

22

 

 

26

 

 

 

373,117

 

 

10

 

 

10

 

Interest rate-lock commitments on residential mortgage loans

N/A

 

 

48,849

 

 

714

 

 

23

 

 

 

23,192

 

 

497

 

 

—

 

Forward commitments to sell residential mortgage loans

N/A

 

 

19,418

 

 

46

 

 

161

 

 

 

9,081

 

 

2

 

 

108

 

To Be Announced (TBA) securities

N/A

 

 

38,750

 

 

372

 

 

28

 

 

 

30,000

 

 

4

 

 

62

 

Foreign exchange forward contracts

N/A

 

 

82,858

 

 

2,606

 

 

2,578

 

 

 

82,157

 

 

3,779

 

 

3,745

 

Visa Class B derivative contract

N/A

 

 

41,544

 

 

—

 

 

1,082

 

 

 

41,588

 

 

—

 

 

1,284

 

  Total derivatives not designated as hedging instruments

 

 

$

6,156,062

 

$

72,955

 

$

73,221

 

 

$

5,867,846

 

$

78,017

 

$

79,038

 

Total derivatives

 

 

$

8,315,062

 

$

98,257

 

$

91,143

 

 

$

8,040,346

 

$

105,612

 

$

95,373

 

Less: netting adjustment (2)

 

 

 

 

 

(42,574

)

 

—

 

 

 

 

 

(42,486

)

 

(6

)

Total derivative assets/liabilities

 

 

 

 

$

55,683

 

$

91,143

 

 

 

 

$

63,126

 

$

95,367

 

 

(1)
Derivative assets and liabilities are reported in other assets and other liabilities, respectively, in the consolidated balance sheets.
(2)
Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.

Cash Flow Hedges of Interest Rate Risk

The Company is party to various interest rate swap agreements designated and qualifying as cash flow hedges of the Company’s forecasted variable cash flows for pools of variable rate loans. For each agreement, the Company receives interest at a fixed rate and pays at a variable rate. The Company has terminated certain interest rate swaps designated as cash flow hedges prior to maturity. The net cash received/paid for these transactions was recorded as accumulated other comprehensive income (loss) and is being amortized into earnings through the original maturity dates of the respective contracts. The notional amounts of the active interest rate swap agreements at March 31, 2026 expire as follows: $350 million in 2026; $825 million in 2027; $50 million in 2028; $275 million in 2029 and $300 million in 2030.

Fair Value Hedges of Interest Rate Risk

Interest rate swaps on securities available for sale

The Company is party to forward-starting fixed payer swaps that convert the latter portion of the term of certain available for sale securities to a floating rate. These derivative instruments are designated as fair value hedges of interest rate risk. This strategy provides the Company with a fixed rate coupon during the front-end unhedged tenor of the bonds and results in a floating rate security during the back-end hedged tenor. At March 31, 2026, these single layer instruments have hedge start dates between February 2025 and July 2026, and maturity dates from March 2030 through March 2031. The change in the fair value of the hedged item attributable to interest rate risk and the net hedge income from effective hedges is presented in interest income along with the change in the fair value of the hedging instrument.

The notional amount of fair value hedges that are effective totaled $265 million and $125 million at March 31, 2026 and 2025, respectively. Once effective, fair value hedges synthetically convert the notional portion of the hedged asset to a variable rate over the life of the hedge that is indexed to the federal funds effective rate, with the resulting net earnings recorded in interest income on the "Securities-taxable" line item on the Consolidated Statements of Income.

The hedged available for sale securities are part of closed portfolios of pre-payable commercial mortgage backed securities. In accordance with ASC 815, prepayment risk may be excluded when measuring the change in fair value of such hedged items attributable to interest rate risk under the portfolio layer method. At March 31, 2026, the amortized cost basis of the closed portfolio of pre-payable commercial mortgage backed securities totaled $387.8 million, excluding any basis adjustment. The amount that represents the hedged items was $335.6 million and the basis adjustment associated with the hedged items was a loss totaling $23.4 million.

The Company terminated one swap agreement designated as a fair value hedge during the three months ended March 31, 2026 and received cash received of approximately $1.7 million and also sold the underlying security. There were no fair value swap agreements terminated during the three months ended March 31, 2025.

Derivatives Not Designated as Hedges

Customer interest rate derivative program

The Bank enters into interest rate derivative agreements, primarily rate swaps, with commercial banking customers to facilitate their risk management strategies. The Bank enters into offsetting agreements with unrelated financial institutions, thereby mitigating its net risk exposure resulting from such transactions. Because the interest rate derivatives associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings.

Risk participation agreements

The Bank also enters into risk participation agreements under which it may either assume or sell credit risk associated with a borrower’s performance under certain interest rate derivative contracts. In those instances where the Bank has assumed credit risk, it is not a direct counterparty to the derivative contract with the borrower and has entered into the risk participation agreement because it is a party to the related loan agreement with the borrower. In those instances in which the Bank has sold credit risk, it is the sole counterparty to the derivative contract with the borrower and has entered into the risk participation agreement because other banks participate in the related loan agreement. The Bank manages its credit risk under risk participation agreements by monitoring the creditworthiness of the borrower, based on the Bank’s normal credit review process.

Mortgage banking derivatives

The Bank also enters into certain derivative agreements as part of its mortgage banking activities. These agreements include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell loans to investors on either a best efforts or a mandatory delivery basis. The Company uses these forward sales commitments, which may include To Be Announced (“TBA”) security contracts, on the open market to protect the value of its rate locks and mortgage loans held for sale from changes in interest rates and pricing between the origination of the rate lock and the final sale of these loans. These instruments meet the definition of derivative financial instruments and are reflected in other assets and other liabilities in the Consolidated Balance Sheets, with changes to the fair value recorded in noninterest income within the secondary mortgage market operations line item in the Consolidated Statements of Income.

The loans sold on a mandatory basis commit the Company to deliver a specific principal amount of mortgage loans to an investor at a specified price, by a specified date. If the Company fails to deliver the amount of mortgages necessary to fulfill the commitment by the specified date, we may be obligated to pay a pair-off fee, based on then-current market prices, to the investor/counterparty to compensate the investor for the shortfall. Mandatory delivery forward commitments include TBA security contracts on the open market to provide protection against changes in interest rates on the locked mortgage pipeline. The Company expects that mandatory delivery contracts, including TBA security contracts, will experience changes in fair value opposite to the changes in the fair value of derivative loan commitments. Certain assumptions, including pull through rates and rate lock periods, are used in managing the existing and future hedges. The accuracy of underlying assumptions could impact the ultimate effectiveness of any hedging strategies.

Forward commitments under best effort contracts commit the Company to deliver a specific individual mortgage loan to an investor if the loan to the underlying borrower closes. Generally, best efforts cash contracts have no pair-off risk regardless of market movement. The price the investor will pay the seller for an individual loan is specified prior to the loan being funded, generally the same day the Company enters into the interest rate lock commitment with the potential borrower. The Company expects that these best efforts forward loan sale commitments will experience a net neutral shift in fair value with related derivative loan commitments.

At the closing of the loan, the rate lock commitment derivative expires and the Company generally records a loan held for sale at fair value under the election of fair value option.

Customer foreign exchange forward contract derivatives

The Company enters into foreign exchange forward derivative agreements, primarily forward foreign currency contracts, with commercial banking customers to facilitate their risk management strategies. The Bank manages its risk exposure from such transactions by entering into offsetting agreements with unrelated financial institutions. The Bank has not elected to designate these foreign exchange forward contract derivatives as hedges; as such, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings.

Visa Class B derivative contract

The Company is a member of Visa USA. In 2018, the Company sold the majority of its Visa Class B holdings, at which time it entered into a derivative agreement with the purchaser whereby the Company will make or receive cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. The conversion ratio changes when Visa deposits funds to a litigation escrow established by Visa to pay settlements for certain litigation, for which Visa is indemnified by Visa USA members. The Company is also required to make periodic financing payments to the purchaser until all of Visa’s covered litigation matters are resolved. Thus, the derivative contract extends until the end of Visa’s covered litigation matters, the timing of which is uncertain.

During the second quarter of 2024, Visa allowed Class B holders to convert some but not all of their Class B shares to Class A shares. As a result of this conversion event, the Bank and its counterparty agreed to modify the transaction agreement to reflect the partial exchange and include certain provisions related to conversion rate changes. The conversion plan approved by Visa requires a minimum of 12 months before another exchange event and thus extends the expected time for a full resolution of the matter.

The contract includes a contingent accelerated termination clause based on the credit ratings of the Company. The fair value of the liability associated with this contract was $1.1 million at March 31, 2026 and $1.3 million at December 31, 2025. Refer to Note 15 – Fair Value of Financial Instruments for discussion of the valuation inputs and process for this derivative liability.

Effect of Derivative Instruments on the Statements of Income

The effects of derivative instruments on the Consolidated Statements of Income for the three months ended March 31, 2026 and 2025 are presented in the table below. Amounts in parenthesis indicates a reduction of net income.

 

 

 

 

Three Months Ended

 

($ in thousands)

 

 

 

March 31,

 

Derivative Instrument(1)

 

Income Statement Line Item of Recognized Gain (Loss)

 

2026

 

2025

 

Cash flow hedges:

 

 

 

 

 

 

 

   Variable rate loans

 

Interest income - loans

 

$

(5,980

)

$

(8,460

)

Fair value hedges:

 

 

 

 

 

 

 

Securities

 

Interest income - securities - taxable

 

 

1,674

 

 

3,910

 

   Securities - sold

 

Noninterest income - securities transaction, net

 

 

50,381

 

 

—

 

Derivatives not designated as hedging:

 

 

 

   Residential mortgage banking

 

Noninterest income - secondary mortgage market operations

 

 

132

 

 

304

 

   Customer and all other instruments

 

Noninterest income - other noninterest income

 

 

960

 

 

(271

)

Total gain (loss)

 

 

 

$

47,167

 

$

(4,517

)
(1)
Includes the effects of both active derivative instruments and the impact from realization of basis adjustments to hedged assets resulting from previously terminated hedges.

Credit Risk-Related Contingent Features

Certain of the Bank’s derivative instruments contain provisions allowing the financial institution counterparty to terminate the contracts in certain circumstances, such as the downgrade of the Bank’s credit ratings below specified levels, a default by the Bank on its indebtedness, or the failure of the Bank to maintain specified minimum regulatory capital ratios or its regulatory status as a well-capitalized institution. These derivative agreements also contain provisions regarding the posting of collateral by each party. At March 31, 2026, the Company was not in violation of any such provisions. The aggregate fair value of derivative instruments with credit risk-related contingent features that were in a net liability position was $13.2 million at both March 31, 2026 and December 31, 2025 for which the Company had posted collateral of $13.6 million and $13.0 million, respectively.

Offsetting Assets and Liabilities

The Bank’s derivative instruments with certain counterparties contain legally enforceable netting provisions that allow for net settlement of multiple transactions to a single amount, which may be positive, negative, or zero. Agreements with certain bilateral counterparties require both parties to maintain collateral in the event that the fair values of derivative instruments exceed established exposure thresholds. For centrally cleared derivatives, the Company is subject to initial margin posting and daily variation margin exchange with the central clearinghouses. Offsetting information in regards to all derivative assets and liabilities, including accrued interest, subject to these master netting agreements at March 31, 2026 and December 31, 2025 is presented in the following tables.

As of March 31, 2026

 

 

 

Gross Amounts Offset in

 

Net Amounts Presented in

 

 

Gross Amounts Not Offset in the
Statement of Financial Condition

 

($ in thousands)

 

Gross Amounts
Recognized

 

the Statement
of Financial Condition

 

the Statement
of Financial Condition

 

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

 

Derivative Assets

 

$

87,792

 

$

(43,493

)

$

44,299

 

 

$

31,619

 

$

32,073

 

$

44,753

 

Derivative Liabilities

 

$

31,619

 

$

—

 

$

31,619

 

 

$

31,619

 

$

—

 

$

—

 

 

As of December 31, 2025

 

 

 

Gross Amounts Offset in

 

Net Amounts Presented in

 

 

Gross Amounts Not Offset in the
Statement of Financial Condition

 

($ in thousands)

 

Gross Amounts
Recognized

 

the Statement
of Financial Condition

 

the Statement
of Financial Condition

 

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

 

Derivative Assets

 

$

89,930

 

$

(43,810

)

$

46,120

 

 

$

36,259

 

$

32,890

 

$

42,751

 

Derivative Liabilities

 

$

36,264

 

$

(5

)

$

36,259

 

 

$

36,259

 

$

—

 

$

—

 
The Company has excess posted collateral compared to total exposure due to initial margin requirements for day-to-day rate volatility.
v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

7. Stockholders’ Equity

Common Shares Outstanding

Common shares outstanding excludes treasury shares totaling 11.8 million and 10.7 million at March 31, 2026 and December 31, 2025, respectively, with a first-in-first-out cost basis of $591.1 million and $502.9 million at March 31, 2026 and December 31, 2025, respectively. Shares outstanding also excludes unvested restricted share awards totaling 7,280 at March 31, 2026 and 8,520 at December 31, 2025.

Stock Buyback Programs

On December 10, 2025, the Company’s Board of Directors approved a stock buyback program, effective January 1, 2026, whereby the Company is authorized to repurchase up to 5% of the shares of the Company's common stock outstanding as of December 31, 2025, or approximately 4.1 million shares, through the program’s expiration date of December 31, 2026. The program allows the Company to repurchase its common shares in the open market, by block purchase, through accelerated share repurchase programs, in privately negotiated transactions, or otherwise, in one or more transactions, from time to time, depending on market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission. The Company is not obligated to purchase any shares under this program, and the Board of Directors has the ability to terminate or amend the program at any time prior to the expiration date. During the three months ended March 31, 2026, the Company repurchased 1.4 million shares of its common stock at an average cost of $67.58 per share, inclusive of commissions, under this program. The Company has accrued $0.8 million of estimated excise tax associated with share repurchases during the three months ended March 31, 2026.

Prior to its completion in December 2025, the Company had in place a stock repurchase program authorized by the Board of Directors on December 9, 2024, whereby the Company was authorized to repurchase up to 5% of the Company's common stock outstanding at December 31, 2024, or approximately 4.3 million shares, with the same terms described above through the program's expiration date of December 31, 2026. During the three months ended March 31, 2025, the Company repurchased 350,000 shares under this program, at an average cost of $59.28 per share, inclusive of commissions.

Accumulated Other Comprehensive Income (Loss)

A rollforward of the components of Accumulated Other Comprehensive Income (Loss) is presented in the table that follows:

($ in thousands)

Available
for Sale
Securities

 

HTM Securities
Transferred
from AFS

 

Employee
Benefit Plans

 

Cash
Flow Hedges

 

Equity Method Investment

 

Total

 

Balance, December 31, 2025

$

(293,835

)

$

(6,858

)

$

(61,448

)

$

(14,795

)

$

685

 

$

(376,251

)

Net change in unrealized gain (loss)

 

(30,250

)

 

—

 

 

—

 

 

(8,098

)

 

(126

)

 

(38,474

)

Reclassification of net loss realized and included in earnings

 

98,595

 

 

—

 

 

17

 

 

5,980

 

 

—

 

 

104,592

 

Valuation adjustments to employee benefit plans

 

—

 

 

—

 

 

(496

)

 

—

 

 

—

 

 

(496

)

Amortization of unrealized net loss on securities transferred to HTM

 

—

 

 

413

 

 

—

 

 

—

 

 

—

 

 

413

 

Income tax (expense) benefit

 

(15,404

)

 

(93

)

 

108

 

 

478

 

 

—

 

 

(14,911

)

Balance, March 31, 2026

$

(240,894

)

$

(6,538

)

$

(61,819

)

$

(16,435

)

$

559

 

$

(325,127

)

Balance, December 31, 2024

$

(473,679

)

$

(8,071

)

$

(77,235

)

$

(47,136

)

$

29

 

$

(606,092

)

Net change in unrealized gain (loss)

 

102,125

 

 

—

 

 

—

 

 

7,560

 

 

(173

)

 

109,512

 

Reclassification of net loss realized and included in earnings

 

—

 

 

—

 

 

955

 

 

8,460

 

 

—

 

 

9,415

 

Amortization of unrealized net loss on securities transferred to HTM

 

—

 

 

405

 

 

—

 

 

—

 

 

—

 

 

405

 

Income tax expense

 

(24,014

)

 

(109

)

 

(384

)

 

(3,705

)

 

—

 

 

(28,212

)

Balance, March 31, 2025

$

(395,568

)

$

(7,775

)

$

(76,664

)

$

(34,821

)

$

(144

)

$

(514,972

)

Accumulated Other Comprehensive Income or Loss (“AOCI”) is reported as a component of stockholders’ equity. AOCI can include, among other items, unrealized holding gains and losses on securities available for sale (“AFS”), including the Company’s share of unrealized gains and losses reported by a partnership accounted for under the equity method, gains and losses associated with pension or other post-retirement benefits that are not recognized immediately as a component of net periodic benefit cost, and gains and losses on derivative instruments that are designated as, and qualify as, cash flow hedges. Net unrealized gains and losses on AFS securities reclassified as securities held to maturity (“HTM”) also continue to be reported as a component of AOCI and will be amortized over the estimated remaining life of the securities as an adjustment to interest income. Subject to certain thresholds, unrealized losses on employee benefit plans will be reclassified into income as pension and post-retirement costs are recognized over the remaining service period of plan participants. Accumulated gains or losses on cash flow hedges of variable rate loans described in Note 6 - Derivatives will be reclassified into income over the life of the hedge. Accumulated other comprehensive loss resulting from terminated interest rate swaps are being amortized over the remaining maturities of the designated instruments. Gains and losses within AOCI are net of deferred income taxes, where applicable.

The following table shows the line items in the consolidated statements of income affected by amounts reclassified from AOCI.

 

 

 

Three Months Ended

 

 

 

Amount reclassified from AOCI (a)

 

March 31,

 

 

Income Statement

($ in thousands)

 

2026

 

 

2025

 

 

Line Item

Loss on sale of AFS securities

 

$

(98,595

)

 

$

—

 

 

Securities transactions, net

Tax effect

 

 

22,222

 

 

 

—

 

 

Income taxes

Net of tax

 

 

(76,373

)

 

 

—

 

 

Net income

Amortization of unrealized net loss on securities transferred to HTM

 

 

(413

)

 

 

(405

)

 

Interest income

Tax effect

 

 

93

 

 

 

109

 

 

Income taxes

Net of tax

 

 

(320

)

 

 

(296

)

 

Net income

Amortization of defined benefit pension and post-retirement items

 

 

(17

)

 

 

(955

)

 

Other noninterest expense (b)

Tax effect

 

 

4

 

 

 

384

 

 

Income taxes

Net of tax

 

 

(13

)

 

 

(571

)

 

Net income

Reclassification of unrealized loss on cash flow hedges

 

 

(4,470

)

 

 

(6,950

)

 

Interest income

Tax effect

 

 

1,009

 

 

 

1,607

 

 

Income taxes

Net of tax

 

 

(3,461

)

 

 

(5,343

)

 

Net income

Amortization of loss on terminated cash flow hedges

 

 

(1,510

)

 

 

(1,510

)

 

Interest income

Tax effect

 

 

341

 

 

 

349

 

 

Income taxes

Net of tax

 

 

(1,169

)

 

 

(1,161

)

 

Net income

Total reclassifications, net of tax

 

$

(81,336

)

 

$

(7,371

)

 

Net income

 

(a)
Amounts in parentheses indicate reduction in net income.
(b)
These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with other noninterest
expense (see Note 12 – Retirement Plans for additional details).
v3.26.1
Other Noninterest Income
 3 Months Ended
Mar. 31, 2026
Other Income, Nonoperating [Abstract]  
Other Noninterest Income

8. Other Noninterest Income

Components of other noninterest income are as follows:

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Income from bank-owned life insurance

 

$

5,267

 

 

$

4,873

 

Credit related fees

 

 

2,775

 

 

 

2,840

 

Income (loss) from customer and other derivatives

 

 

960

 

 

 

(271

)

Net gains on sales of premises, equipment and other assets

 

 

2,046

 

 

 

1,857

 

Other miscellaneous

 

 

6,326

 

 

 

7,754

 

Total other noninterest income

 

$

17,374

 

 

$

17,053

 
v3.26.1
Other Noninterest Expense
 3 Months Ended
Mar. 31, 2026
Other Expense, Nonoperating [Abstract]  
Other Noninterest Expense

9. Other Noninterest Expense

Components of other noninterest expense are as follows:

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Corporate value and franchise taxes and other non-income taxes

 

$

4,416

 

 

$

4,303

 

Entertainment and contributions

 

 

4,218

 

 

 

3,387

 

Advertising

 

 

4,186

 

 

 

3,015

 

Telecommunications and postage

 

 

2,642

 

 

 

2,441

 

Travel expense

 

 

1,635

 

 

 

1,232

 

Tax credit investment amortization

 

 

903

 

 

 

1,068

 

Printing and supplies

 

 

985

 

 

 

902

 

Net other retirement expense

 

 

(5,311

)

 

 

(3,884

)

Other miscellaneous

 

 

8,267

 

 

 

8,173

 

Total other noninterest expense

 

$

21,941

 

 

$

20,637

 
v3.26.1
Earnings Per Common Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Common Share

10. Earnings Per Common Share

The Company calculates earnings per common share using the two-class method. The two-class method allocates net income to each class of common stock and participating security according to common dividends declared and participation rights in undistributed earnings. Participating securities consist of nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents.

A summary of the information used in the computation of earnings per common share follows.

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands, except per share data)

 

2026

 

 

2025

 

Numerator:

 

 

 

 

 

 

Net income to common shareholders

 

$

47,422

 

 

$

119,504

 

Net income allocated to participating securities - basic and diluted

 

 

159

 

 

 

521

 

Net income allocated to common shareholders - basic and diluted

 

$

47,263

 

 

$

118,983

 

Denominator:

 

 

 

 

 

 

Weighted-average common shares - basic

 

 

81,674

 

 

 

86,092

 

Dilutive potential common shares

 

 

587

 

 

 

370

 

Weighted-average common shares - diluted

 

 

82,261

 

 

 

86,462

 

Earnings per common share:

 

 

 

 

 

 

Basic

 

$

0.58

 

 

$

1.38

 

Diluted

 

$

0.57

 

 

$

1.38

 

Potential common shares consist of nonvested performance-based awards, nonvested restricted stock units, and restricted share awards deferred under the Company’s nonqualified deferred compensation plan. These potential common shares do not enter into the calculation of diluted earnings per share if the impact would be antidilutive, i.e., increase earnings per share or reduce a loss per share. The weighted average of potentially dilutive common shares that were anti-dilutive totaled 7,201 for the three months ended March 31, 2026, and 3,188 for the three months ended March 31, 2025, and were excluded from the calculation of diluted earnings per share for the respective periods.
v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting

11. Segment Reporting

U.S. GAAP requires that information be reported about a company’s operating segments using a “management approach.” Reportable segments are identified in these standards as those revenue-producing components for which discrete financial information is produced internally and which are subject to evaluation by our chief operating decision maker in deciding how to allocate resources to segments. The Company has identified the Capital Committee as the chief operating decision maker. Consistent with the Company’s strategy that is focused on providing a consistent package of banking products and services across all markets, the Company has identified its overall banking operations as its only reportable segment. There have been no changes in the basis of segmentation or basis of measurement of segment profit or loss since our last annual filing as of December 31, 2025.

Because the overall banking operations comprise substantially all of the Company’s consolidated operations, no separate financial segment disclosures are presented. The significant segment expenses included in net income are presented in the financial statement captions shown on the face of the Consolidated Statements of Income and in Note 9 – Other Noninterest Expense, and align materially with those reported to the Capital Committee. There are no other segment items that are required to reconcile expenses included in net income to significant expenses reviewed by the Capital Committee.
v3.26.1
Retirement Plans
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Retirement Plans

12. Retirement Plans

The Company offers a qualified defined benefit pension plan, the Hancock Whitney Corporation Pension Plan and Trust Agreement (“Pension Plan”), that covers certain eligible associates and is closed to new entrants. The Company makes contributions to the Pension Plan in amounts sufficient to meet funding requirements set forth in federal employee benefit and tax laws, plus such additional amounts as the Company may determine to be appropriate. The Company made no contributions to the pension plan during the three months ended March 31, 2026 and 2025, and does not anticipate being required to make a contribution during 2026. The Company also sponsors a nonqualified defined benefit plan covering certain associates, under which accrued benefits were frozen and no future benefits are accrued under this plan.

The Company sponsors defined benefit post-retirement plans for certain associates that provide health care and life insurance benefits. These plans are closed to new entrants.

The following table shows the components of net periodic benefit cost included in expense for the periods indicated.

 

 

 

Three Months Ended March 31,

 

 

 

Pension Benefits

 

 

Other Post-Retirement Benefits

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Service cost

 

$

1,525

 

 

$

1,600

 

 

$

9

 

 

$

9

 

Interest cost

 

 

6,593

 

 

 

6,275

 

 

 

154

 

 

 

154

 

Expected return on plan assets

 

 

(12,075

)

 

 

(11,268

)

 

 

—

 

 

 

—

 

Amortization of net (gain) or loss and prior service costs

 

 

202

 

 

 

1,140

 

 

 

(185

)

 

 

(185

)

Net periodic benefit cost

 

$

(3,755

)

 

$

(2,253

)

 

$

(22

)

 

$

(22

)

Service cost is reflected in the “Benefit expense” line item of the Consolidated Statements of Income. Components other than service cost in the in the table above are reflected in “Net other retirement expense” in Note 9 – Other Noninterest Expense, and reported in the “Other expense” line item of the Consolidated Statements of Income.

Additional information related to the Company’s retirement plans, including a defined contribution 401(k) plan, is provided in Note 18 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

v3.26.1
Share-Based Payment Arrangements
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangements

13. Share-Based Payment Arrangements

The Company maintains incentive compensation plans that incorporate share-based payment arrangement for associates and directors. These plans have been approved by the Company's shareholders. Descriptions of these plans were included in Note 19 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

The Company’s restricted and performance-based share awards to certain employees and directors are subject to service requirements. A summary of the status of the Company’s nonvested restricted stock units and restricted and performance-based share awards at March 31, 2026 are presented in the following table.

 

 

 

 

 

Weighted Average

 

 

 

Number of Shares

 

 

Grant Date Fair Value

 

Nonvested at January 1, 2026

 

 

1,400,195

 

 

$

50.51

 

Granted

 

 

500,393

 

 

 

67.70

 

Vested

 

 

(408,533

)

 

 

50.47

 

Cancelled/Forfeited

 

 

(38,513

)

 

 

48.91

 

Nonvested at March 31, 2026

 

 

1,453,542

 

 

$

56.48

 

At March 31, 2026, there was $73.3 million of total unrecognized compensation expense related to nonvested restricted and performance share awards and units expected to vest in the future. This compensation is expected to be recognized in expense over a weighted average period of 3.4 years. The total fair value of shares that vested during the three months ended March 31, 2026 was $19.0 million.

During the three months ended March 31, 2026, the Company granted 390,415 restricted stock units (RSUs) to certain eligible employees. The holders of unvested restricted stock units have no rights as a shareholder of the Company, including voting or dividend rights. The Company has elected to award dividend equivalents on each restricted stock unit not deferred under the Company's nonqualified deferred compensation plan. Such dividend equivalents are forfeited should the employee terminate employment prior to the vesting of the RSU.

During the three months ended March 31, 2026, the Company granted to key members of executive management 25,278 performance share awards subject to a total shareholder return (“TSR”) performance metric with a grant date fair value of $70.83 per share. The fair value of the performance share units subject to TSR at the grant date was determined using a Monte Carlo simulation method. The number of performance share units subject to TSR that ultimately vest at the end of the three-year performance period, if any, will be based on the relative rank of the Company’s three-year TSR among the TSRs of a peer group of 49 regional banks. The Company also granted 24,535 performance share awards subject to a return on average assets (ROAA) performance metric and 24,535 performance share awards subject to a return on average tangible common equity (ROATCE) performance metric with a grant date fair value of $60.08 per share for both performance share awards. The number of performance shares subject to ROAA and ROTCE that ultimately vest if any, will be based on the relative rank of the Company’s three-year ROAA and ROATCE relative to the KBW Regional Bank index. The maximum number of performance share units that could vest is 200% of the target award. Compensation expense for these performance shares is recognized on a straight-line basis over the three-year service period.

v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

14. Commitments and Contingencies

In the normal course of business, the Bank enters into financial instruments, such as commitments to extend credit and letters of credit, to meet the financing needs of its customers. Such instruments are not reflected in the accompanying consolidated financial statements until they are funded, although they expose the Bank to varying degrees of credit risk and interest rate risk in much the same way as funded loans. Under regulatory capital guidelines, the Company and Bank must include unfunded commitments meeting certain criteria in risk-weighted capital calculations.

Commitments to extend credit include revolving commercial credit lines, nonrevolving loan commitments issued mainly to finance the acquisition and development or construction of real property or equipment, and credit card and personal credit lines. The availability of funds under commercial credit lines and loan commitments generally depends on whether the borrower continues to meet credit standards established in the underlying contract and other contractual conditions. Loan commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Credit card and personal credit lines are generally subject to cancellation if the borrower’s credit quality deteriorates. A number of commercial and personal credit lines are used only partially or, in some cases, not at all before they expire, and the total commitment amounts do not necessarily represent future cash requirements of the Company.

A substantial majority of the letters of credit are standby agreements that obligate the Bank to fulfill a customer’s financial commitments to a third party if the customer is unable to perform. The Bank issues standby letters of credit primarily to provide credit enhancement to its customers’ other commercial or public financing arrangements and to help them demonstrate financial capacity to vendors of essential goods and services.

The contractual amounts of these instruments reflect the Company’s exposure to credit risk. The Company undertakes the same credit evaluation in making loan commitments and assuming conditional obligations as it does for on-balance sheet instruments and may require collateral or other credit support. The Company had a reserve for unfunded lending commitments of $32.4 million and $33.9 million at March 31, 2026 and December 31, 2025, respectively.

The following table presents a summary of the Company’s off-balance sheet financial instruments as of March 31, 2026 and December 31, 2025:

 

 

March 31,

 

 

December 31,

 

($ in thousands)

 

2026

 

 

2025

 

Commitments to extend credit

 

$

9,714,297

 

 

$

9,650,197

 

Letters of credit

 

 

421,096

 

 

 

409,010

 

Legal Proceedings

The Company is party to various legal proceedings arising in the ordinary course of business. Management does not believe that loss contingencies, if any, arising from pending litigation and regulatory matters will have a material adverse effect on the consolidated financial position or liquidity of the Company.

Federal Deposit Insurance Corporation (FDIC) Special Assessment

In November 2023, the FDIC approved a final rule to implement a special deposit insurance assessment to recover losses to the Deposit Insurance Fund (DIF) arising from the full protection of uninsured depositors under the systemic risk exception following the receiverships of Silicon Valley Bank and Signature Bank in the spring of 2023. To-date, the Company has expensed $27.6 million related to this special assessment based on loss estimate information provided by the FDIC.

The loss estimates resulting from the failures of these institutions may be subject to further change pending the projected and actual outcome of loss share agreements, joint ventures, and outstanding litigation. The exact amount of losses incurred will not be

determined until the FDIC terminates the receiverships of these banks; therefore, the Company's exact exposure for FDIC special assessment remains unknown.
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements

15. Fair Value Measurements

The FASB defines fair value as the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The FASB’s guidance also establishes a fair value hierarchy that prioritizes the inputs to these valuation techniques used to measure fair value, giving preference to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs such as a reporting entity’s own data (level 3). Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in markets that are not active, observable inputs other than quoted prices, such as interest rates and yield curves, and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables present for each of the fair value hierarchy levels the Company’s financial assets and liabilities that are measured at fair value on a recurring basis on the consolidated balance sheets at March 31, 2026 and December 31, 2025:

 

 

March 31, 2026

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government agency securities

 

$

—

 

 

$

282,467

 

 

$

—

 

 

$

282,467

 

Municipal obligations

 

 

—

 

 

 

180,143

 

 

 

—

 

 

 

180,143

 

Corporate debt securities

 

 

—

 

 

 

16,237

 

 

 

—

 

 

 

16,237

 

Residential mortgage-backed securities

 

 

—

 

 

 

2,333,405

 

 

 

—

 

 

 

2,333,405

 

Commercial mortgage-backed securities

 

 

—

 

 

 

3,140,320

 

 

 

—

 

 

 

3,140,320

 

Collateralized mortgage obligations

 

 

—

 

 

 

23,814

 

 

 

—

 

 

 

23,814

 

Total available for sale securities

 

 

—

 

 

 

5,976,386

 

 

 

—

 

 

 

5,976,386

 

Mortgage loans held for sale

 

 

—

 

 

 

36,477

 

 

 

—

 

 

 

36,477

 

Derivative assets (1)

 

 

—

 

 

 

55,683

 

 

 

—

 

 

 

55,683

 

Total recurring fair value measurements - assets

 

$

—

 

 

$

6,068,546

 

 

$

—

 

 

$

6,068,546

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities (1)

 

$

—

 

 

$

90,061

 

 

$

1,082

 

 

$

91,143

 

Total recurring fair value measurements - liabilities

 

$

—

 

 

$

90,061

 

 

$

1,082

 

 

$

91,143

 

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.

 

 

 

December 31, 2025

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government agency securities

 

$

—

 

 

$

269,332

 

 

$

—

 

 

$

269,332

 

Municipal obligations

 

 

—

 

 

 

191,328

 

 

 

—

 

 

 

191,328

 

Corporate debt securities

 

 

—

 

 

 

16,357

 

 

 

—

 

 

 

16,357

 

Residential mortgage-backed securities

 

 

—

 

 

 

2,375,629

 

 

 

—

 

 

 

2,375,629

 

Commercial mortgage-backed securities

 

 

—

 

 

 

3,083,325

 

 

 

—

 

 

 

3,083,325

 

Collateralized mortgage obligations

 

 

—

 

 

 

25,946

 

 

 

—

 

 

 

25,946

 

Total available for sale securities

 

 

—

 

 

 

5,961,917

 

 

 

—

 

 

 

5,961,917

 

Mortgage loans held for sale

 

 

—

 

 

 

33,158

 

 

 

—

 

 

 

33,158

 

Derivative assets (1)

 

 

—

 

 

 

63,126

 

 

 

—

 

 

 

63,126

 

Total recurring fair value measurements - assets

 

$

—

 

 

$

6,058,201

 

 

$

—

 

 

$

6,058,201

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities (1)

 

$

—

 

 

$

94,083

 

 

$

1,284

 

 

$

95,367

 

Total recurring fair value measurements - liabilities

 

$

—

 

 

$

94,083

 

 

$

1,284

 

 

$

95,367

 

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.

Securities classified as level 2 include obligations of U.S. Government agencies and U.S. Government-sponsored agencies, including U.S. Treasury securities, residential and commercial mortgage-backed securities and collateralized mortgage obligations that are issued or guaranteed by U.S. government agencies, and state and municipal bonds. The level 2 fair value measurements for investment securities are obtained quarterly from a third-party pricing service that uses industry-standard pricing models. Substantially all of the model inputs are observable in the marketplace or can be supported by observable data.

The Company invests only in securities of investment grade quality with a targeted duration, for the overall portfolio, generally between two and five and a half years. Company policies generally limit U.S. investments to agency securities and municipal securities determined to be investment grade according to an internally generated score which generally includes a rating of not less than “Baa” or its equivalent by a nationally recognized statistical rating agency.

Loans held for sale consist of residential mortgage loans carried under the fair value option. The fair value for these instruments is classified as level 2 based on market prices obtained from potential buyers.

For the Company’s derivative financial instruments designated as hedges and those under the customer interest rate program, the fair value is obtained from a third-party pricing service that uses an industry-standard discounted cash flow model that relies on inputs, Overnight Index swap rate curves and SOFR swap curves (where applicable); all observable in the marketplace. To comply with the accounting guidance, credit valuation adjustments are incorporated in the fair values to appropriately reflect nonperformance risk for both the Company and the counterparties. Although the Company has determined that the majority of the inputs used to value these derivative instruments fall within level 2 of the fair value hierarchy, the credit value adjustments utilize level 3 inputs, such as estimates of current credit spreads. The Company has determined that the impact of the credit valuation adjustments is not significant to the overall valuation of these derivatives. As a result, the Company has classified its derivative valuations for these instruments in level 2 of the fair value hierarchy. The Company’s policy is to measure counterparty credit risk quarterly for derivative instruments, which are all subject to master netting arrangements, consistent with how market participants would price the net risk exposure at the measurement date.

The Company also has certain derivative instruments associated with the Bank’s mortgage-banking activities. These derivative instruments include interest rate lock commitments on prospective residential mortgage loans and forward commitments to sell these loans to investors on a best efforts delivery basis and To Be Announced securities for mandatory delivery contracts. The fair value of these derivative instruments is measured using observable market prices for similar instruments and is classified as a level 2 measurement.

The Company’s level 3 liability consists of a derivative contract with the purchaser of 192,163 shares of Visa Class B common stock. Pursuant to the agreement, the Company retains the risks associated with the ultimate conversion of the Visa Class B common shares into shares of Visa Class A common stock, such that the counterparty will be compensated for any dilutive adjustments to the conversion ratio and the Company will be compensated for any anti-dilutive adjustments to the ratio. The agreement also requires periodic payments by the Company to the counterparty calculated by reference to the market price of Visa Class A common shares at the time of sale and a fixed rate of interest that stepped up once after the eighth scheduled quarterly payment. The fair value of the liability is determined using a discounted cash flow methodology. The significant unobservable inputs used in the fair value measurement are the Company’s own assumptions about estimated changes in the conversion rate of the Visa Class B common shares into Visa Class A common shares, the date on which such conversion is expected to occur and the estimated growth rate of the Visa Class A common share price. Refer to Note 6 – Derivatives for information about the derivative contract with the counterparty.

The Company believes its valuation methods for its assets and liabilities carried at fair value are appropriate; however, the use of different methodologies or assumptions, particularly as applied to level 3 assets and liabilities, could have a material effect on the computation of their estimated fair values.

Changes in Level 3 Fair Value Measurements and Quantitative Information about Level 3 Fair Value Measurements

The nominal changes in the fair value of level 3 financial instruments is due to the net impact of cash settlements and losses included in earnings. The level 3 fair value measurement was based on discounted cash flows, with a Visa Class B common share conversion ratio range of 1.55x to 1.54x and an estimated time to resolution of 18 to 30 months. The range of sensitivities that management utilized in its fair value calculations is deemed acceptable in the industry with respect to the identified financial instrument

The Company’s policy is to recognize transfers between valuation hierarchy levels as of the end of a reporting period.

Fair Value of Assets Measured on a Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a nonrecurring basis. Collateral-dependent loans individually evaluated for credit loss are measured at the fair value of the underlying collateral based on independent third-party appraisals that take into consideration market-based information such as recent sales activity for similar assets in the property’s market.

Other real estate owned and foreclosed assets, including both foreclosed property and surplus banking property, are level 3 assets that are adjusted to fair value, less estimated selling costs, upon transfer from loans or property and equipment. Subsequently, other real estate owned and foreclosed assets are carried at the lower of carrying value or fair value less estimated selling costs. Fair values are determined by sales agreement or third-party appraisals as discounted for estimated selling costs, information from comparable sales, and marketability of the assets.

The fair value information presented below is not as of the period end, rather it was as of the date the fair value adjustment was recorded during the twelve months for each of the dates presented below, and excludes nonrecurring fair value measurements of assets no longer on the balance sheet.

The following tables present the Company’s financial assets that are measured at fair value on a nonrecurring basis for each of the fair value hierarchy levels.

 

 

March 31, 2026

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Collateral-dependent individually evaluated loans

 

$

—

 

 

$

—

 

 

$

26,109

 

 

$

26,109

 

Other real estate owned and foreclosed assets

 

 

—

 

 

 

—

 

 

 

11,257

 

 

 

11,257

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

37,366

 

 

$

37,366

 

 

 

 

December 31, 2025

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Collateral-dependent individually evaluated loans

 

$

—

 

 

$

—

 

 

$

33,762

 

 

$

33,762

 

Other real estate owned and foreclosed assets, net

 

 

—

 

 

 

—

 

 

 

14,788

 

 

 

14,788

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

48,550

 

 

$

48,550

 

Accounting guidance from the FASB requires the disclosure of estimated fair value information about certain on- and off-balance sheet financial instruments, including those financial instruments that are not measured and reported at fair value on a recurring basis. The significant methods and assumptions used by the Company to estimate the fair value of financial instruments are discussed below.

Cash, Short-Term Investments and Federal Funds Sold – For these short-term instruments, the carrying amount is a reasonable estimate of fair value.

Securities – The fair value measurement for securities available for sale is discussed earlier in this note. The same measurement techniques were applied to the valuation of securities held to maturity.

Loans, Net – The fair value measurement for certain collateral dependent loans that are individually evaluated for credit loss was described earlier in this note. For the remaining portfolio, fair values were generally determined by discounting scheduled cash flows using discount rates determined with reference to current market rates at which loans with similar terms would be made to borrowers of similar credit quality.

Loans Held For Sale – These loans are either carried under the fair value option or at the lower of cost or market. Given the short duration of these instruments, the carrying amount is considered a reasonable estimate of fair value.

Deposits – The accounting guidance requires that the fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, and interest-bearing checking and savings accounts, be assigned fair values equal to amounts payable upon demand (carrying amounts). The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities.

Federal Funds Purchased and Securities Sold under Agreements to Repurchase – For these short-term liabilities, the carrying amount is a reasonable estimate of fair value.

Short-Term FHLB Borrowings – At March 31, 2026, short-term FHLB borrowings consisted of five short-term fixed-rate borrowings for which the fair value was estimated by discounting contractual cash flows using current market rates at which

borrowing with similar terms could be obtained. At December 31, 2025, FHLB borrowings consisted of one short-term fixed rate borrowing (two calendar days outstanding); as such, the carrying amount of the instrument was a reasonable fair value.

Long-Term Debt – The fair value is estimated by discounting the future contractual cash flows using current market rates at which debt with similar terms could be obtained.

Derivative Financial Instruments – The fair value measurement for derivative financial instruments is described earlier in this note.

The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amounts.

 

March 31, 2026

 

 

 

 

 

 

 

 

Total Fair

 

Carrying

 

($ in thousands)

Level 1

 

Level 2

 

Level 3

 

Value

 

Amount

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

Cash, interest-bearing bank deposits, and federal funds sold

$

779,018

 

$

212

 

$

—

 

$

779,230

 

$

779,230

 

Available for sale securities

 

—

 

 

5,976,386

 

 

—

 

 

5,976,386

 

 

5,976,386

 

Held to maturity securities

 

—

 

 

1,926,729

 

 

—

 

 

1,926,729

 

 

2,051,628

 

Loans, net

 

—

 

 

—

 

 

23,577,647

 

 

23,577,647

 

 

23,680,524

 

Loans held for sale

 

—

 

 

63,090

 

 

—

 

 

63,090

 

 

63,090

 

Derivative financial instruments

 

—

 

 

55,683

 

 

—

 

 

55,683

 

 

55,683

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits

$

—

 

$

—

 

$

29,072,945

 

$

29,072,945

 

$

29,082,134

 

Federal funds purchased

 

—

 

 

325

 

 

—

 

 

325

 

 

325

 

Securities sold under agreements to repurchase

 

—

 

 

660,126

 

 

—

 

 

660,126

 

 

660,126

 

Short-term FHLB Borrowings

 

—

 

 

700,215

 

 

—

 

 

700,215

 

 

700,000

 

Long-term debt

 

—

 

 

155,330

 

 

—

 

 

155,330

 

 

193,785

 

Derivative financial instruments

 

—

 

 

90,061

 

 

1,082

 

 

91,143

 

 

91,143

 

 

 

December 31, 2025

 

($ in thousands)

Level 1

 

Level 2

 

Level 3

 

Total Fair
Value

 

Carrying
Amount

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

Cash, interest-bearing bank deposits, and federal funds sold

$

695,032

 

$

229

 

$

—

 

$

695,261

 

$

695,261

 

Available for sale securities

 

—

 

 

5,961,917

 

 

—

 

 

5,961,917

 

 

5,961,917

 

Held to maturity securities

 

—

 

 

2,011,026

 

 

—

 

 

2,011,026

 

 

2,132,882

 

Loans, net

 

—

 

 

—

 

 

23,588,681

 

 

23,588,681

 

 

23,650,709

 

Loans held for sale

 

—

 

 

33,158

 

 

—

 

 

33,158

 

 

33,158

 

Derivative financial instruments

 

—

 

 

63,126

 

 

—

 

 

63,126

 

 

63,126

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits

$

—

 

$

—

 

$

29,274,190

 

$

29,274,190

 

$

29,279,774

 

Federal funds purchased

 

—

 

 

70,400

 

 

—

 

 

70,400

 

 

70,400

 

Securities sold under agreements to repurchase

 

—

 

 

546,892

 

 

—

 

 

546,892

 

 

546,892

 

Short-term FHLB Borrowings

 

—

 

 

400,000

 

 

—

 

 

400,000

 

 

400,000

 

Long-term debt

 

—

 

 

162,257

 

 

—

 

 

162,257

 

 

199,407

 

Derivative financial instruments

 

—

 

 

94,083

 

 

1,284

 

 

95,367

 

 

95,367

 
v3.26.1
Recent Accounting Pronouncements
 3 Months Ended
Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements

16. Recent Accounting Pronouncements

Accounting Standards Adopted during the Three Months Ended March 31, 2026

In November 2025, the FASB issued ASU 2025-08, “Financial Instruments – Credit Losses (Topic 326): Purchased Loans,” to expand the population of acquired assets subject to the gross-up approach in Topic 326. Under the amendments in this update, loans (excluding credit cards) acquired without credit deterioration that are deemed “seasoned” are considered purchased seasoned loans and accounted for using the gross-up approach at acquisition. Non-purchased credit deteriorated loans (excluding credit cards) are seasoned if they are acquired in a business combination or were purchased at least 90 days after origination and the acquirer was not involved in the origination of the loans. Under the gross-up approach, the fair value discount is bifurcated between the credit and noncredit components, and the credit portion of the fair value discount is added to the initial amortized cost basis with a corresponding increase in the allowance for credit losses at the date of acquisition. Any noncredit premium or discount resulting from acquiring these seasoned loans is allocated to each individual asset and accreted or amortized to interest income using the effective yield method. Prior to this amendment, all non-purchased credit deteriorated loans acquired were recorded at the estimated fair value of the loan at acquisition, with the estimated allowance for credit loss recorded as a provision for credit losses through earnings in the period in which the acquisition occurred. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. The amendments should be applied prospectively to loans that are acquired on or after the initial application date. Early adoption is permitted in an interim or annual reporting period in which financial statements have not yet been issued or made available for issuance. The Company has elected to early adopt this standard as of January 1, 2026. As of the date of this filing there are no pending acquisitions, and therefore, the early adoption of this standard did not have an impact on the Company’s consolidated results of operations or financial condition.

Accounting Standards Issued But Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40),” to improve the disclosures about a public business entity’s expenses in commonly presented expense captions. The amendments in this update require disclosure of specified information about certain costs and expenses in the notes to financial statements. Disclosure requirements also include a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, among other items. An entity is not precluded from providing additional voluntary disclosures that may provide investors with additional decision-useful information. This update, as amended, is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this update should be applied either prospectively to financial statements issued for reporting periods after the effective date of this update, or retrospectively to any or all prior periods presented in the financial statements. The Company is currently assessing the provisions of this guidance. As the update contains only amendments to disclosure requirements, adoption will have no impact to the Company’s consolidated results of operations or financial condition.

In September 2025, the FASB issued ASU 2025-06, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software,” to modernize the accounting for software costs that are accounted for under Subtopic 350-40. The amendments in this update remove all references to prescriptive and sequential software development stages in Subtopic 350-40 and instead require an entity to begin capitalizing software costs when both of the following occur: (1) management has authorized and committed to funding the software project, and (2) it is probable that the project will be completed and the software will be used to perform the function. The amendment also provides factors to consider when evaluating probable-to-complete recognition thresholds and specifies that the disclosures in Subtopic 360-10, “Property, Plant and Equipment,” are required for all capitalized internal-use software. Further, the amendment supersedes website development costs guidance and incorporates the recognition requirements in this subtopic. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. Entities may apply a prospective transition approach, a modified transition approach or a retrospective approach. The Company is currently assessing the provisions of this guidance, but does not expect adoption to have a material impact to the Company’s consolidated results of operations or financial condition.

In November 2025, the FASB issued ASU 2025-09, “Derivative and Hedging (Topic 815): Hedge Accounting Improvements,” to clarify certain aspects of the guidance on hedge accounting and to address several incremental hedge accounting issues arising from the global reference rate reform initiative. The update addresses five issues: (1) the ability to group individual forecasted transactions in a cash flow hedge, modifying the term “shared risk exposure” to “similar risk exposure;” (2) the ability to apply cash flow hedge accounting to “choose your rate” debt instruments; (3) the application of cash flow hedge accounting to forecasted purchases and sales of nonfinancial assets; (4) the use of net written options has hedging instruments; and (5) the mechanics of assessing hedge effectiveness for foreign-currency-denominated dual hedge strategies. This update is effective for public business entities in the interim and annual reporting periods beginning after December 15, 2026, with early adoptions permitted. Entities should apply the

amendments on a prospective basis for all hedging relationships. An entity may elect to adopt the amendments for hedging relationships that exist as of the date of adoption. Upon adoption, entities are permitted to modify certain critical terms of certain existing hedging relationships without dedesignating the hedge. The Company is currently assessing the provisions of this guidance but does not expect adoption to have a material impact to the Company’s consolidated results of operations or financial condition.

In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow Scope Improvements," to improve interim reporting guidance in Topic 270 by improving the navigability of the required interim disclosures, clarifying when that guidance is applicable, and providing additional guidance on what disclosures should be provided in interim reporting periods. This update reorganizes and clarifies interim reporting guidance without expanding disclosure requirements. Key provisions include clarification of entities in scope of ASC 270, updates to the form and content requirements for condensed interim financial statements, and a new disclosure principle requiring disclosure of material events since year-end. This update is effective for public entities for interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The amendments in this update can be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements. The Company is currently assessing the provisions of this guidance. As the update contains only clarification of disclosure requirements, adoption will have no impact to the Company's consolidated results of operations or financial condition.
v3.26.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation

The consolidated financial statements include the accounts of Hancock Whitney Corporation and all other entities in which it has a controlling interest (the “Company”). The financial statements include all adjustments that are, in the opinion of management, necessary to fairly state the Company’s financial condition, results of operations, changes in stockholders’ equity and cash flows for the interim periods presented. The Company has also evaluated all subsequent events for potential recognition and disclosure through the date of the filing of this Quarterly Report on Form 10-Q (this “Report” or “report”). Some financial information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) have been condensed or omitted in this Quarterly Report on Form 10-Q pursuant to Securities and Exchange Commission rules and regulations. These financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Financial information reported in these financial statements is not necessarily indicative of the Company’s financial condition, results of operations, or cash flows for any other interim or annual period.

Certain prior period amounts have been reclassified to conform to the current period presentation. These changes in presentation did not have a material impact on the Company's financial condition or operating results.
Use of Estimates

Use of Estimates

The accounting principles the Company follows and the methods for applying these principles conform to GAAP and general practices followed by the banking industry. These accounting principles require management to make estimates and assumptions about future events that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

Accounting Policies

Accounting Policies

There were no material changes or developments during the reporting period with respect to methodologies that the Company uses when applying what management believes are critical accounting policies and developing critical accounting estimates as disclosed in its Annual Report on Form 10-K for the year ended December 31, 2025.

Refer to Note 16 – Recent Accounting Pronouncements for a discussion of the prospective adoption of ASU 2025-08, “Financial Instruments – Credit Losses (Topic 326): Purchased Loans,” as of January 1, 2026 and a description of changes to our acquired loan accounting policy.
v3.26.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities Available for Sale

 

March 31, 2026

 

December 31, 2025

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Available for Sale

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

279,080

 

$

4,562

 

$

1,175

 

$

282,467

 

$

266,825

 

$

3,705

 

$

1,198

 

$

269,332

 

Municipal obligations

 

180,786

 

 

49

 

 

692

 

 

180,143

 

 

191,754

 

 

82

 

 

508

 

 

191,328

 

Residential mortgage-backed securities

 

2,567,467

 

 

6,254

 

 

240,316

 

 

2,333,405

 

 

2,620,980

 

 

11,643

 

 

256,994

 

 

2,375,629

 

Commercial mortgage-backed securities

 

3,218,115

 

 

6,457

 

 

84,252

 

 

3,140,320

 

 

3,217,663

 

 

10,530

 

 

144,868

 

 

3,083,325

 

Collateralized mortgage obligations

 

24,998

 

 

—

 

 

1,184

 

 

23,814

 

 

27,100

 

 

—

 

 

1,154

 

 

25,946

 

Corporate debt securities

 

17,000

 

 

—

 

 

763

 

 

16,237

 

 

17,000

 

 

37

 

 

680

 

 

16,357

 

  Total

$

6,287,446

 

$

17,322

 

$

328,382

 

$

5,976,386

 

$

6,341,322

 

$

25,997

 

$

405,402

 

$

5,961,917

 

 
Amortized Cost and Fair Value of Debt Securities Held to Maturity

 

March 31, 2026

 

December 31, 2025

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Gross

 

Gross

 

 

 

Securities Held to Maturity

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

($ in thousands)

Cost

 

Gains

 

Losses

 

Value

 

Cost

 

Gains

 

Losses

 

Value

 

U.S. Treasury and government agency securities

$

368,667

 

$

271

 

$

29,171

 

$

339,767

 

$

373,605

 

$

248

 

$

30,143

 

$

343,710

 

Municipal obligations

 

457,346

 

 

370

 

 

11,556

 

 

446,160

 

 

511,516

 

 

708

 

 

11,455

 

 

500,769

 

Residential mortgage-backed securities

 

480,249

 

 

—

 

 

35,764

 

 

444,485

 

 

497,338

 

 

—

 

 

34,239

 

 

463,099

 

Commercial mortgage-backed securities

 

728,004

 

 

—

 

 

48,510

 

 

679,494

 

 

731,329

 

 

—

 

 

46,455

 

 

684,874

 

Collateralized mortgage obligations

 

17,362

 

 

—

 

 

539

 

 

16,823

 

 

19,094

 

 

—

 

 

520

 

 

18,574

 

  Total

$

2,051,628

 

$

641

 

$

125,540

 

$

1,926,729

 

$

2,132,882

 

$

956

 

$

122,812

 

$

2,011,026

 
Proceeds from, Gross Gains on, and Gross Losses on Sales of Securities

The following table presents the proceeds from, gross gains on, and gross losses on sales of securities during the three months ended March 31, 2026 and 2025. Net gains or losses are reflected in the "Securities transactions, net" line item on the Consolidated Statements of Income.

 

 

Three Months Ended
March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Proceeds

 

$

1,414,258

 

 

$

—

 

Gross gains

 

 

7

 

 

 

—

 

Gross losses

 

 

98,602

 

 

 

—

 

Net loss

 

$

(98,595

)

 

$

—

 
Available for Sale Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Available for Sale

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

35,304

 

 

$

35,323

 

Due after one year through five years

 

 

1,382,114

 

 

 

1,360,911

 

Due after five years through ten years

 

 

2,091,263

 

 

 

2,020,407

 

Due after ten years

 

 

2,778,765

 

 

 

2,559,745

 

Total

 

$

6,287,446

 

 

$

5,976,386

 
Securities with Unrealized Losses

The fair value and gross unrealized losses for securities classified as available for sale with unrealized losses for the periods indicated follow.

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

Losses < 12 months

 

 

Losses 12 months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

11,910

 

$

101

 

 

$

6,708

 

$

1,074

 

 

$

18,618

 

$

1,175

 

Municipal obligations

 

 

47,068

 

 

400

 

 

 

95,944

 

 

292

 

 

 

143,012

 

 

692

 

Residential mortgage-backed securities

 

 

395,000

 

 

3,778

 

 

 

1,283,981

 

 

236,538

 

 

 

1,678,981

 

 

240,316

 

Commercial mortgage-backed securities

 

 

1,758,136

 

 

19,383

 

 

 

829,335

 

 

64,869

 

 

 

2,587,471

 

 

84,252

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

23,814

 

 

1,184

 

 

 

23,814

 

 

1,184

 

Corporate debt securities

 

 

2,989

 

 

11

 

 

 

13,248

 

 

752

 

 

 

16,237

 

 

763

 

  Total

 

$

2,215,103

 

$

23,673

 

 

$

2,253,030

 

$

304,709

 

 

$

4,468,133

 

$

328,382

 

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

17,468

 

$

9

 

 

$

14,677

 

$

1,189

 

 

$

32,145

 

$

1,198

 

Municipal obligations

 

 

—

 

 

—

 

 

 

124,852

 

 

508

 

 

 

124,852

 

 

508

 

Residential mortgage-backed securities

 

 

54,250

 

 

598

 

 

 

1,442,746

 

 

256,396

 

 

 

1,496,996

 

 

256,994

 

Commercial mortgage-backed securities

 

 

374,740

 

 

1,787

 

 

 

2,158,865

 

 

143,081

 

 

 

2,533,605

 

 

144,868

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

25,946

 

 

1,154

 

 

 

25,946

 

 

1,154

 

Corporate debt securities

 

 

1,998

 

 

2

 

 

 

11,322

 

 

678

 

 

 

13,320

 

 

680

 

  Total

 

$

448,456

 

$

2,396

 

 

$

3,778,408

 

$

403,006

 

 

$

4,226,864

 

$

405,402

 
Held-to-maturity Securities [Member]  
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items]  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Debt Securities Held to Maturity

 

Amortized

 

 

Fair

 

($ in thousands)

 

Cost

 

 

Value

 

Due in one year or less

 

$

139,208

 

 

$

138,554

 

Due after one year through five years

 

 

701,252

 

 

 

678,711

 

Due after five years through ten years

 

 

419,862

 

 

 

397,573

 

Due after ten years

 

 

791,306

 

 

 

711,891

 

Total

 

$

2,051,628

 

 

$

1,926,729

 
Securities with Unrealized Losses

The fair value and gross unrealized losses for securities classified as held to maturity with unrealized losses for the periods indicated follow.

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

8,563

 

$

24

 

 

$

313,146

 

$

29,147

 

 

$

321,709

 

$

29,171

 

Municipal obligations

 

 

101,661

 

 

305

 

 

 

171,360

 

 

11,251

 

 

 

273,021

 

 

11,556

 

Residential mortgage-backed securities

 

 

—

 

 

—

 

 

 

444,485

 

 

35,764

 

 

 

444,485

 

 

35,764

 

Commercial mortgage-backed securities

 

 

—

 

 

—

 

 

 

679,494

 

 

48,510

 

 

 

679,494

 

 

48,510

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

16,823

 

 

539

 

 

 

16,823

 

 

539

 

  Total

 

$

110,224

 

$

329

 

 

$

1,625,308

 

$

125,211

 

 

$

1,735,532

 

$

125,540

 

 

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

Losses < 12 Months

 

 

Losses 12 Months or >

 

 

Total

 

($ in thousands)

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

Gross
Unrealized
Losses

 

U.S. Treasury and government agency securities

 

$

—

 

$

—

 

 

$

316,814

 

$

30,143

 

 

$

316,814

 

$

30,143

 

Municipal obligations

 

 

98,559

 

 

97

 

 

 

325,241

 

 

11,358

 

 

 

423,800

 

 

11,455

 

Residential mortgage-backed securities

 

 

—

 

 

—

 

 

 

463,099

 

 

34,239

 

 

 

463,099

 

 

34,239

 

Commercial mortgage-backed securities

 

 

—

 

 

—

 

 

 

684,874

 

 

46,455

 

 

 

684,874

 

 

46,455

 

Collateralized mortgage obligations

 

 

—

 

 

—

 

 

 

18,574

 

 

520

 

 

 

18,574

 

 

520

 

  Total

 

$

98,559

 

$

97

 

 

$

1,808,602

 

$

122,715

 

 

$

1,907,161

 

$

122,812

 
v3.26.1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Accounts Notes And Loans Receivable [Line Items]  
Loans, Net of Unearned Income

 

 

March 31,

 

 

December 31,

 

($ in thousands)

 

2026

 

 

2025

 

Commercial non-real estate

 

$

9,710,891

 

 

$

9,809,011

 

Commercial real estate - owner occupied

 

 

3,299,867

 

 

 

3,270,080

 

Total commercial and industrial

 

 

13,010,758

 

 

 

13,079,091

 

Commercial real estate - income producing

 

 

4,382,665

 

 

 

4,283,168

 

Construction and land development

 

 

1,320,224

 

 

 

1,239,086

 

Residential mortgages

 

 

3,950,154

 

 

 

4,016,917

 

Consumer

 

 

1,328,039

 

 

 

1,340,178

 

Total loans

 

$

23,991,840

 

 

$

23,958,440

 
Allowance for Credit Losses by Portfolio Class

The following tables present activity in the allowance for credit losses by portfolio class for the three months ended March 31, 2026 and 2025, as well as the allowance for credit loss by primary calculation method at the end of each period.

 

 

 

 

Commercial

 

Total

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial

 

Real Estate-

 

Commercial

 

Real Estate-

 

Construction

 

 

 

 

 

 

 

 

Non-Real

 

Owner

 

and

 

Income

 

and Land

 

Residential

 

 

 

 

 

($ in thousands)

Estate

 

Occupied

 

Industrial

 

Producing

 

Development

 

Mortgages

 

Consumer

 

Total

 

 

Three Months Ended March 31, 2026

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

Beginning balance

$

121,439

 

$

40,695

 

$

162,134

 

$

60,475

 

$

17,450

 

$

42,834

 

$

24,838

 

$

307,731

 

Charge-offs

 

(8,506

)

 

(8

)

 

(8,514

)

 

—

 

 

(219

)

 

(250

)

 

(4,410

)

 

(13,393

)

Recoveries

 

1,123

 

 

142

 

 

1,265

 

 

3

 

 

1

 

 

71

 

 

917

 

 

2,257

 

Net provision for loan losses

 

13,433

 

 

2,901

 

 

16,334

 

 

(3,363

)

 

478

 

 

(1,089

)

 

2,361

 

 

14,721

 

Ending balance - allowance for loan losses

$

127,489

 

$

43,730

 

$

171,219

 

$

57,115

 

$

17,710

 

$

41,566

 

$

23,706

 

$

311,316

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

12,639

 

$

371

 

$

13,010

 

$

1,005

 

$

17,949

 

$

3

 

$

1,961

 

$

33,928

 

Provision for losses on unfunded commitments

 

(1,292

)

 

(48

)

 

(1,340

)

 

(183

)

 

86

 

 

(2

)

 

(110

)

 

(1,549

)

Ending balance - reserve for unfunded lending commitments

 

11,347

 

 

323

 

 

11,670

 

 

822

 

 

18,035

 

 

1

 

 

1,851

 

 

32,379

 

Total allowance for credit losses

$

138,836

 

$

44,053

 

$

182,889

 

$

57,937

 

$

35,745

 

$

41,567

 

$

25,557

 

$

343,695

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

$

10,947

 

$

—

 

$

10,947

 

$

—

 

$

—

 

$

234

 

$

52

 

$

11,233

 

Collectively evaluated

$

127,889

 

$

44,053

 

$

171,942

 

$

57,937

 

$

35,745

 

$

41,333

 

$

25,505

 

$

332,462

 

 

 

 

Commercial

 

Total

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial

 

Real Estate-

 

Commercial

 

Real Estate-

 

Construction

 

 

 

 

 

 

 

 

Non-Real

 

Owner

 

and

 

Income

 

and Land

 

Residential

 

 

 

 

 

($ in thousands)

Estate

 

Occupied

 

Industrial

 

Producing

 

Development

 

Mortgages

 

Consumer

 

Total

 

 

Three Months Ended March 31, 2025

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

121,090

 

$

36,264

 

$

157,354

 

$

71,975

 

$

21,158

 

$

42,445

 

$

25,950

 

$

318,882

 

Charge-offs

 

(6,132

)

 

(2,741

)

 

(8,873

)

 

(34

)

 

(8

)

 

(167

)

 

(4,211

)

 

(13,293

)

Recoveries

 

1,650

 

 

95

 

 

1,745

 

 

—

 

 

110

 

 

387

 

 

804

 

 

3,046

 

Net provision for loan losses

 

5,607

 

 

2,515

 

 

8,122

 

 

(1,562

)

 

(1,052

)

 

535

 

 

3,441

 

 

9,484

 

Ending balance - allowance for loan losses

$

122,215

 

$

36,133

 

$

158,348

 

$

70,379

 

$

20,208

 

$

43,200

 

$

25,984

 

$

318,119

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$

6,441

 

$

309

 

$

6,750

 

$

642

 

$

14,639

 

$

4

 

$

2,018

 

$

24,053

 

Provision for losses on unfunded commitments

 

515

 

 

(13

)

 

502

 

 

(198

)

 

696

 

 

(1

)

 

(21

)

 

978

 

Ending balance - reserve for unfunded lending commitments

 

6,956

 

 

296

 

 

7,252

 

 

444

 

 

15,335

 

 

3

 

 

1,997

 

 

25,031

 

Total allowance for credit losses

$

129,171

 

$

36,429

 

$

165,600

 

$

70,823

 

$

35,543

 

$

43,203

 

$

27,981

 

$

343,150

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

$

10,406

 

$

49

 

$

10,455

 

$

—

 

$

—

 

$

752

 

$

197

 

$

11,404

 

Collectively evaluated

$

118,765

 

$

36,380

 

$

155,145

 

$

70,823

 

$

35,543

 

$

42,451

 

$

27,784

 

$

331,746

 
Composition of Nonaccrual Loans and Without an Allowance for Loan Loss by Portfolio Class

The following table shows the composition of nonaccrual loans and those without an allowance for loan losses, by portfolio class at March 31, 2026 and December 31, 2025.

 

 

 

 

 

 

 

 

 

 

 

March 31, 2026

 

December 31, 2025

 

($ in thousands)

Total Nonaccrual

 

Nonaccrual Without Allowance for Loan Loss

 

Total Nonaccrual

 

Nonaccrual Without Allowance for Loan Loss

 

Commercial non-real estate

$

41,381

 

$

5,302

 

$

34,525

 

$

3,294

 

Commercial real estate - owner occupied

 

5,930

 

 

2,810

 

 

6,723

 

 

1,470

 

Total commercial and industrial

 

47,311

 

 

8,112

 

 

41,248

 

 

4,764

 

Commercial real estate - income producing

 

2,010

 

 

1,326

 

 

4,760

 

 

5,114

 

Construction and land development

 

1,028

 

 

—

 

 

3,173

 

 

2,178

 

Residential mortgages

 

51,262

 

 

1,076

 

 

46,986

 

 

2,511

 

Consumer

 

11,732

 

 

167

 

 

10,703

 

 

316

 

Total

$

113,343

 

$

10,681

 

$

106,870

 

$

14,883

 

 
Provides Detail by Portfolio Class for Reportable MEFDs

The tables below provide detail by portfolio class for reportable MEFDs entered into during the three months ended March 31, 2026 and 2025. Modified facilities are reported using the balance at the end of each period reported and are reflected only once in each table based on the type of modification or combination of modification.

 

Three Months Ended March 31, 2026

 

 

Term Extension

 

Significant Payment Delay

 

Term Extensions and
Significant Payment Delay

 

Other(1)

 

($ in thousands)

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Commercial non-real estate

$

3,471

 

 

0.04

%

$

16,305

 

 

0.17

%

$

7,425

 

 

0.08

%

$

—

 

 

—

 

Commercial real estate - owner occupied

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total commercial and industrial

 

3,471

 

 

0.03

%

 

16,305

 

 

0.13

%

 

7,425

 

 

0.06

%

 

—

 

 

—

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Residential mortgages

 

3,949

 

 

0.10

%

 

—

 

 

—

 

 

—

 

 

—

 

 

263

 

 

0.01

%

Consumer

 

31

 

 

0.00

%

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total reportable modified loans

$

7,451

 

 

0.03

%

$

16,305

 

 

0.07

%

$

7,425

 

 

0.03

%

$

263

 

 

0.00

%
(1)
Includes a combination of interest rate reduction and term extension.

 

 

Three Months Ended March 31, 2025

 

 

Term Extension

 

Significant Payment Delay

 

Term Extensions and
Significant Payment Delay

 

Other

 

($ in thousands)

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Balance

 

Percentage of Portfolio

 

Commercial non-real estate

$

44,700

 

 

0.46

%

$

197

 

 

0.00

%

$

—

 

 

—

 

$

—

 

 

—

 

Commercial real estate - owner occupied

 

366

 

 

0.01

%

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total commercial and industrial

 

45,066

 

 

0.36

%

 

197

 

 

0.00

%

 

—

 

 

—

 

 

—

 

 

—

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Residential mortgages

 

13,167

 

 

0.33

%

 

412

 

 

0.01

%

 

—

 

 

—

 

 

—

 

 

—

 

Consumer

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total reportable modified loans

$

58,233

 

 

0.25

%

$

609

 

 

0.00

%

$

—

 

 

—

 

$

—

 

 

—

 
Aging Analysis of Reportable Modifications To Borrowers Experiencing Financial Difficulty by Portfolio Class

The tables that follow present the aging analysis of reportable modifications to borrowers experiencing financial difficulty by portfolio class at March 31, 2026 and December 31, 2025.

March 31, 2026

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total Reportable
Modified Loans

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

9,850

 

$

543

 

$

5,069

 

$

15,462

 

$

72,194

 

$

87,656

 

Commercial real estate - owner occupied

 

—

 

 

23,128

 

 

5,569

 

 

28,697

 

 

231

 

 

28,928

 

Total commercial and industrial

 

9,850

 

 

23,671

 

 

10,638

 

 

44,159

 

 

72,425

 

 

116,584

 

Commercial real estate - income producing

 

—

 

 

1,217

 

 

1,705

 

 

2,922

 

 

11,035

 

 

13,957

 

Construction and land development

 

—

 

 

—

 

 

147

 

 

147

 

 

—

 

 

147

 

Residential mortgages

 

300

 

 

2,226

 

 

27

 

 

2,553

 

 

9,127

 

 

11,680

 

Consumer

 

—

 

 

—

 

 

148

 

 

148

 

 

251

 

 

399

 

Total reportable modified loans

$

10,150

 

$

27,114

 

$

12,665

 

$

49,929

 

$

92,838

 

$

142,767

 

 

December 31, 2025

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total Reportable
Modified Loans

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

—

 

$

27,670

 

$

734

 

$

28,404

 

$

74,911

 

$

103,315

 

Commercial real estate - owner occupied

 

—

 

 

—

 

 

—

 

 

—

 

 

28,939

 

 

28,939

 

Total commercial and industrial

 

—

 

 

27,670

 

 

734

 

 

28,404

 

 

103,850

 

 

132,254

 

Commercial real estate - income producing

 

—

 

 

—

 

 

—

 

 

—

 

 

14,914

 

 

14,914

 

Construction and land development

 

—

 

 

—

 

 

—

 

 

—

 

 

147

 

 

147

 

Residential mortgages

 

1,285

 

 

416

 

 

—

 

 

1,701

 

 

13,458

 

 

15,159

 

Consumer

 

—

 

 

—

 

 

148

 

 

148

 

 

227

 

 

375

 

Total reportable modified loans

$

1,285

 

$

28,086

 

$

882

 

$

30,253

 

$

132,596

 

$

162,849

 
Aging Analysis of Past Due Loans by Portfolio Class

The tables below present the aging analysis of past due loans by portfolio class at March 31, 2026 and December 31, 2025.

March 31, 2026

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days and
Still Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

28,794

 

$

18,882

 

$

44,631

 

$

92,307

 

$

9,618,584

 

$

9,710,891

 

$

15,105

 

Commercial real estate - owner occupied

 

5,432

 

 

26,986

 

 

13,311

 

 

45,729

 

 

3,254,138

 

 

3,299,867

 

 

8,235

 

Total commercial and industrial

 

34,226

 

 

45,868

 

 

57,942

 

 

138,036

 

 

12,872,722

 

 

13,010,758

 

 

23,340

 

Commercial real estate - income producing

 

15,891

 

 

1,360

 

 

5,842

 

 

23,093

 

 

4,359,572

 

 

4,382,665

 

 

4,312

 

Construction and land development

 

3,189

 

 

247

 

 

1,090

 

 

4,526

 

 

1,315,698

 

 

1,320,224

 

 

147

 

Residential mortgages

 

52,593

 

 

13,821

 

 

27,965

 

 

94,379

 

 

3,855,775

 

 

3,950,154

 

 

70

 

Consumer

 

9,215

 

 

3,699

 

 

9,042

 

 

21,956

 

 

1,306,083

 

 

1,328,039

 

 

2,016

 

Total loans

$

115,114

 

$

64,995

 

$

101,881

 

$

281,990

 

$

23,709,850

 

$

23,991,840

 

$

29,885

 

 

 

December 31, 2025

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days and
Still Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

19,008

 

$

43,316

 

$

39,954

 

$

102,278

 

$

9,706,733

 

$

9,809,011

 

$

20,358

 

Commercial real estate - owner occupied

 

15,013

 

 

308

 

 

7,609

 

 

22,930

 

 

3,247,150

 

 

3,270,080

 

 

1,586

 

Total commercial and industrial

 

34,021

 

 

43,624

 

 

47,563

 

 

125,208

 

 

12,953,883

 

 

13,079,091

 

 

21,944

 

Commercial real estate - income producing

 

990

 

 

2,806

 

 

7,177

 

 

10,973

 

 

4,272,195

 

 

4,283,168

 

 

2,928

 

Construction and land development

 

1,754

 

 

564

 

 

3,488

 

 

5,806

 

 

1,233,280

 

 

1,239,086

 

 

565

 

Residential mortgages

 

42,302

 

 

17,984

 

 

34,656

 

 

94,942

 

 

3,921,975

 

 

4,016,917

 

 

116

 

Consumer

 

9,284

 

 

4,675

 

 

9,839

 

 

23,798

 

 

1,316,380

 

 

1,340,178

 

 

3,245

 

Total loans

$

88,351

 

$

69,653

 

$

102,723

 

$

260,727

 

$

23,697,713

 

$

23,958,440

 

$

28,798

 
Credit Quality Indicators by Segment and Portfolio Class

The following tables present credit quality disclosures of amortized cost by class and vintage for term loans and by revolving and revolving converted to amortizing at March 31, 2026 and December 31, 2025. The Company defines vintage as the later of origination, renewal or modification date. The gross charge-offs presented in the tables that follow are for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

Term Loans

 

 

 

Revolving Loans

 

 

 

March 31, 2026

Amortized Cost Basis by Origination Year

 

Revolving

 

Converted to

 

 

 

 ($ in thousands)

2026

 

2025

 

2024

 

2023

 

2022

 

Prior

 

Loans

 

Term Loans

 

Total

 

Commercial Non-Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

486,599

 

$

1,850,898

 

$

1,020,799

 

$

664,963

 

$

742,221

 

$

1,291,012

 

$

2,961,563

 

$

104,592

 

$

9,122,647

 

Pass-Watch

 

253

 

 

21,467

 

 

16,094

 

 

34,761

 

 

30,484

 

 

49,044

 

 

73,504

 

 

1,464

 

 

227,071

 

Special Mention

 

—

 

 

3,871

 

 

12,835

 

 

4,857

 

 

25,181

 

 

8,209

 

 

12,096

 

 

1,245

 

 

68,294

 

Substandard

 

6,349

 

 

8,709

 

 

14,703

 

 

75,446

 

 

70,940

 

 

31,809

 

 

77,583

 

 

7,340

 

 

292,879

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

493,201

 

$

1,884,945

 

$

1,064,431

 

$

780,027

 

$

868,826

 

$

1,380,074

 

$

3,124,746

 

$

114,641

 

$

9,710,891

 

Gross Charge-offs

$

—

 

$

133

 

$

283

 

$

4,363

 

$

387

 

$

2,239

 

$

474

 

$

627

 

$

8,506

 

Commercial Real Estate - Owner Occupied:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

143,915

 

$

618,064

 

$

376,479

 

$

350,264

 

$

452,448

 

$

1,116,223

 

$

58,888

 

$

614

 

$

3,116,895

 

Pass-Watch

 

1,146

 

 

26,994

 

 

9,420

 

 

1,881

 

 

32,074

 

 

25,256

 

 

615

 

 

—

 

 

97,386

 

Special Mention

 

—

 

 

2,357

 

 

1,099

 

 

638

 

 

6,250

 

 

5,258

 

 

—

 

 

—

 

 

15,602

 

Substandard

 

—

 

 

4,156

 

 

806

 

 

7,081

 

 

20,804

 

 

36,893

 

 

244

 

 

—

 

 

69,984

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

145,061

 

$

651,571

 

$

387,804

 

$

359,864

 

$

511,576

 

$

1,183,630

 

$

59,747

 

$

614

 

$

3,299,867

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

8

 

$

—

 

$

—

 

$

—

 

$

8

 

Commercial Real Estate - Income Producing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

255,347

 

$

1,055,337

 

$

477,210

 

$

515,599

 

$

674,686

 

$

1,084,031

 

$

65,341

 

$

50

 

$

4,127,601

 

Pass-Watch

 

—

 

 

81,629

 

 

130

 

 

952

 

 

93,495

 

 

33,077

 

 

1,053

 

 

—

 

 

210,336

 

Special Mention

 

—

 

 

7,955

 

 

—

 

 

285

 

 

—

 

 

—

 

 

—

 

 

—

 

 

8,240

 

Substandard

 

—

 

 

1,086

 

 

—

 

 

3,933

 

 

11,191

 

 

18,900

 

 

1,378

 

 

—

 

 

36,488

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

255,347

 

$

1,146,007

 

$

477,340

 

$

520,769

 

$

779,372

 

$

1,136,008

 

$

67,772

 

$

50

 

$

4,382,665

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Construction and Land Development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

71,790

 

$

430,756

 

$

328,254

 

$

191,007

 

$

45,730

 

$

87,764

 

$

113,764

 

$

4,538

 

$

1,273,603

 

Pass-Watch

 

—

 

 

3,651

 

 

436

 

 

1,769

 

 

2,498

 

 

277

 

 

7,278

 

 

—

 

 

15,909

 

Special Mention

 

—

 

 

—

 

 

—

 

 

—

 

 

27,947

 

 

109

 

 

—

 

 

—

 

 

28,056

 

Substandard

 

—

 

 

149

 

 

180

 

 

1,535

 

 

333

 

 

416

 

 

43

 

 

—

 

 

2,656

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

71,790

 

$

434,556

 

$

328,870

 

$

194,311

 

$

76,508

 

$

88,566

 

$

121,085

 

$

4,538

 

$

1,320,224

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

—

 

$

218

 

$

1

 

$

—

 

$

—

 

$

219

 

Residential Mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

56,722

 

$

324,309

 

$

125,804

 

$

379,349

 

$

1,018,788

 

$

1,990,972

 

$

2,948

 

$

—

 

$

3,898,892

 

Nonperforming

 

—

 

 

627

 

 

1,963

 

 

12,620

 

 

13,197

 

 

22,855

 

 

—

 

 

—

 

 

51,262

 

Total

$

56,722

 

$

324,936

 

$

127,767

 

$

391,969

 

$

1,031,985

 

$

2,013,827

 

$

2,948

 

$

—

 

$

3,950,154

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

190

 

$

—

 

$

60

 

$

—

 

$

—

 

$

250

 

Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

28,083

 

$

28,414

 

$

22,110

 

$

19,650

 

$

15,463

 

$

73,494

 

$

1,117,658

 

$

11,435

 

$

1,316,307

 

Nonperforming

 

—

 

 

45

 

 

267

 

 

1,334

 

 

1,336

 

 

7,318

 

 

362

 

 

1,070

 

 

11,732

 

Total

$

28,083

 

$

28,459

 

$

22,377

 

$

20,984

 

$

16,799

 

$

80,812

 

$

1,118,020

 

$

12,505

 

$

1,328,039

 

Gross Charge-offs

$

—

 

$

59

 

$

266

 

$

272

 

$

291

 

$

135

 

$

2,926

 

$

461

 

$

4,410

 

 

 

Term Loans

 

 

 

Revolving Loans

 

 

 

December 31, 2025

Amortized Cost Basis by Origination Year

 

Revolving

 

Converted to

 

 

 

 ($ in thousands)

2025

 

2024

 

2023

 

2022

 

2021

 

Prior

 

Loans

 

Term Loans

 

Total

 

Commercial Non-Real Estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

2,030,587

 

$

1,164,266

 

$

711,218

 

$

812,902

 

$

525,095

 

$

891,032

 

$

2,955,174

 

$

90,350

 

$

9,180,624

 

Pass-Watch

 

24,737

 

 

27,477

 

 

39,683

 

 

33,385

 

 

12,896

 

 

18,064

 

 

94,461

 

 

15,417

 

 

266,120

 

Special Mention

 

2,405

 

 

6,975

 

 

6,239

 

 

27,719

 

 

10,564

 

 

4,305

 

 

28,330

 

 

2,192

 

 

88,729

 

Substandard

 

13,738

 

 

6,450

 

 

81,228

 

 

87,745

 

 

11,275

 

 

6,798

 

 

51,619

 

 

14,685

 

 

273,538

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

2,071,467

 

$

1,205,168

 

$

838,368

 

$

961,751

 

$

559,830

 

$

920,199

 

$

3,129,584

 

$

122,644

 

$

9,809,011

 

Gross Charge-offs

$

4,798

 

$

2,718

 

$

15,397

 

$

2,888

 

$

74

 

$

531

 

$

3,722

 

$

15,436

 

$

45,564

 

Commercial Real Estate - Owner Occupied:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

616,536

 

$

401,399

 

$

312,006

 

$

461,247

 

$

459,700

 

$

711,509

 

$

51,600

 

$

50,328

 

$

3,064,325

 

Pass-Watch

 

26,766

 

 

6,397

 

 

2,746

 

 

43,060

 

 

14,187

 

 

27,591

 

 

2,506

 

 

120

 

 

123,373

 

Special Mention

 

2,371

 

 

2,202

 

 

1,008

 

 

12,024

 

 

5,054

 

 

293

 

 

195

 

 

48

 

 

23,195

 

Substandard

 

2,082

 

 

822

 

 

6,685

 

 

20,353

 

 

1,472

 

 

27,723

 

 

50

 

 

—

 

 

59,187

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

647,755

 

$

410,820

 

$

322,445

 

$

536,684

 

$

480,413

 

$

767,116

 

$

54,351

 

$

50,496

 

$

3,270,080

 

Gross Charge-offs

$

—

 

$

—

 

$

86

 

$

—

 

$

2,741

 

$

1,799

 

$

—

 

$

—

 

$

4,626

 

Commercial Real Estate - Income Producing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

1,110,044

 

$

416,052

 

$

519,955

 

$

724,326

 

$

549,335

 

$

649,996

 

$

64,217

 

$

1,490

 

$

4,035,415

 

Pass-Watch

 

22,429

 

 

15,606

 

 

4,219

 

 

101,959

 

 

4,277

 

 

40,381

 

 

1,123

 

 

—

 

 

189,994

 

Special Mention

 

7,962

 

 

—

 

 

289

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

8,251

 

Substandard

 

192

 

 

—

 

 

7,669

 

 

10,441

 

 

10,871

 

 

20,185

 

 

150

 

 

—

 

 

49,508

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

1,140,627

 

$

431,658

 

$

532,132

 

$

836,726

 

$

564,483

 

$

710,562

 

$

65,490

 

$

1,490

 

$

4,283,168

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

34

 

$

—

 

$

—

 

$

—

 

$

—

 

$

34

 

Construction and Land Development:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

349,811

 

$

358,827

 

$

185,672

 

$

54,798

 

$

75,084

 

$

14,954

 

$

131,153

 

$

535

 

$

1,170,834

 

Pass-Watch

 

29,323

 

 

814

 

 

1,500

 

 

3,299

 

 

128

 

 

241

 

 

—

 

 

—

 

 

35,305

 

Special Mention

 

60

 

 

—

 

 

—

 

 

28,036

 

 

112

 

 

—

 

 

—

 

 

—

 

 

28,208

 

Substandard

 

72

 

 

185

 

 

1,665

 

 

2,560

 

 

135

 

 

122

 

 

—

 

 

—

 

 

4,739

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

379,266

 

$

359,826

 

$

188,837

 

$

88,693

 

$

75,459

 

$

15,317

 

$

131,153

 

$

535

 

$

1,239,086

 

Gross Charge-offs

$

—

 

$

—

 

$

—

 

$

1,297

 

$

—

 

$

17

 

$

—

 

$

—

 

$

1,314

 

Residential Mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

360,686

 

$

131,928

 

$

390,276

 

$

1,039,884

 

$

824,012

 

$

1,220,288

 

$

2,857

 

$

—

 

$

3,969,931

 

Nonperforming

 

371

 

 

2,300

 

 

10,582

 

 

10,244

 

 

6,335

 

 

17,154

 

 

—

 

 

—

 

 

46,986

 

Total

$

361,057

 

$

134,228

 

$

400,858

 

$

1,050,128

 

$

830,347

 

$

1,237,442

 

$

2,857

 

$

—

 

$

4,016,917

 

Gross Charge-offs

$

—

 

$

36

 

$

502

 

$

335

 

$

—

 

$

49

 

$

—

 

$

—

 

$

922

 

Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

50,512

 

$

24,693

 

$

22,963

 

$

18,103

 

$

8,928

 

$

47,131

 

$

1,123,471

 

$

33,674

 

$

1,329,475

 

Nonperforming

 

51

 

 

44

 

 

349

 

 

842

 

 

627

 

 

4,367

 

 

408

 

 

4,015

 

 

10,703

 

Total

$

50,563

 

$

24,737

 

$

23,312

 

$

18,945

 

$

9,555

 

$

51,498

 

$

1,123,879

 

$

37,689

 

$

1,340,178

 

Gross Charge-offs

$

85

 

$

952

 

$

1,104

 

$

1,277

 

$

528

 

$

695

 

$

9,228

 

$

2,137

 

$

16,006

 
Total Commercial [Member]  
Accounts Notes And Loans Receivable [Line Items]  
Credit Quality Indicators by Segment and Portfolio Class

The following tables present the credit quality indicators by segment and portfolio class of loans at March 31, 2026 and December 31, 2025.

 

March 31, 2026

 

($ in thousands)

Commercial
Non-Real
Estate

 

Commercial
Real Estate -
Owner-
Occupied

 

Total
Commercial
and Industrial

 

Commercial
Real Estate -
Income
Producing

 

Construction
and Land
Development

 

Total
Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,122,647

 

$

3,116,895

 

$

12,239,542

 

$

4,127,601

 

$

1,273,603

 

$

17,640,746

 

Pass-Watch

 

227,071

 

 

97,386

 

 

324,457

 

 

210,336

 

 

15,909

 

 

550,702

 

Special Mention

 

68,294

 

 

15,602

 

 

83,896

 

 

8,240

 

 

28,056

 

 

120,192

 

Substandard

 

292,879

 

 

69,984

 

 

362,863

 

 

36,488

 

 

2,656

 

 

402,007

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

9,710,891

 

$

3,299,867

 

$

13,010,758

 

$

4,382,665

 

$

1,320,224

 

$

18,713,647

 

 

 

December 31, 2025

 

($ in thousands)

Commercial
Non-Real
Estate

 

Commercial
Real Estate -
Owner-
Occupied

 

Total
Commercial
and Industrial

 

Commercial
Real Estate -
Income
Producing

 

Construction
and Land
Development

 

Total
Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,180,624

 

$

3,064,325

 

$

12,244,949

 

$

4,035,415

 

$

1,170,834

 

$

17,451,198

 

Pass-Watch

 

266,120

 

 

123,373

 

 

389,493

 

 

189,994

 

 

35,305

 

 

614,792

 

Special Mention

 

88,729

 

 

23,195

 

 

111,924

 

 

8,251

 

 

28,208

 

 

148,383

 

Substandard

 

273,538

 

 

59,187

 

 

332,725

 

 

49,508

 

 

4,739

 

 

386,972

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

9,809,011

 

$

3,270,080

 

$

13,079,091

 

$

4,283,168

 

$

1,239,086

 

$

18,601,345

 
Residential Mortgage and Consumer [Member]  
Accounts Notes And Loans Receivable [Line Items]  
Credit Quality Indicators by Segment and Portfolio Class

 

 

March 31, 2026

 

 

December 31, 2025

 

($ in thousands)

 

Residential
Mortgage

 

 

Consumer

 

 

Total

 

 

Residential
Mortgage

 

 

Consumer

 

 

Total

 

Performing

 

$

3,898,892

 

 

$

1,316,307

 

 

$

5,215,199

 

 

$

3,969,931

 

 

$

1,329,475

 

 

$

5,299,406

 

Nonperforming

 

 

51,262

 

 

 

11,732

 

 

 

62,994

 

 

 

46,986

 

 

 

10,703

 

 

 

57,689

 

Total

 

$

3,950,154

 

 

$

1,328,039

 

 

$

5,278,193

 

 

$

4,016,917

 

 

$

1,340,178

 

 

$

5,357,095

 

 
v3.26.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Financial Instruments

The table below presents the notional or contractual amounts and fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets at March 31, 2026 and December 31, 2025.

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

 

Notional or

 

 

 

 

Notional or

 

 

 

 

Type of

 

Contractual

 

Derivative (1)

 

 

Contractual

 

Derivative (1)

 

($ in thousands)

Hedge

 

Amount

 

Assets

 

Liabilities

 

 

Amount

 

Assets

 

Liabilities

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps - variable rate loans

Cash Flow

 

$

1,800,000

 

$

1,985

 

$

17,922

 

 

$

1,775,000

 

$

4,026

 

$

16,335

 

Interest rate swaps - securities

Fair Value

 

 

359,000

 

 

23,317

 

 

—

 

 

 

397,500

 

 

23,569

 

 

—

 

  Total derivatives designated as hedging instruments

 

 

$

2,159,000

 

$

25,302

 

$

17,922

 

 

$

2,172,500

 

$

27,595

 

$

16,335

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

N/A

 

$

5,492,800

 

$

69,195

 

$

69,323

 

 

$

5,308,711

 

$

73,725

 

$

73,829

 

Risk participation agreements

N/A

 

 

431,843

 

 

22

 

 

26

 

 

 

373,117

 

 

10

 

 

10

 

Interest rate-lock commitments on residential mortgage loans

N/A

 

 

48,849

 

 

714

 

 

23

 

 

 

23,192

 

 

497

 

 

—

 

Forward commitments to sell residential mortgage loans

N/A

 

 

19,418

 

 

46

 

 

161

 

 

 

9,081

 

 

2

 

 

108

 

To Be Announced (TBA) securities

N/A

 

 

38,750

 

 

372

 

 

28

 

 

 

30,000

 

 

4

 

 

62

 

Foreign exchange forward contracts

N/A

 

 

82,858

 

 

2,606

 

 

2,578

 

 

 

82,157

 

 

3,779

 

 

3,745

 

Visa Class B derivative contract

N/A

 

 

41,544

 

 

—

 

 

1,082

 

 

 

41,588

 

 

—

 

 

1,284

 

  Total derivatives not designated as hedging instruments

 

 

$

6,156,062

 

$

72,955

 

$

73,221

 

 

$

5,867,846

 

$

78,017

 

$

79,038

 

Total derivatives

 

 

$

8,315,062

 

$

98,257

 

$

91,143

 

 

$

8,040,346

 

$

105,612

 

$

95,373

 

Less: netting adjustment (2)

 

 

 

 

 

(42,574

)

 

—

 

 

 

 

 

(42,486

)

 

(6

)

Total derivative assets/liabilities

 

 

 

 

$

55,683

 

$

91,143

 

 

 

 

$

63,126

 

$

95,367

 

 

(1)
Derivative assets and liabilities are reported in other assets and other liabilities, respectively, in the consolidated balance sheets.
(2)
Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.
Effects of Derivative Instruments on the Statement of Income

The effects of derivative instruments on the Consolidated Statements of Income for the three months ended March 31, 2026 and 2025 are presented in the table below. Amounts in parenthesis indicates a reduction of net income.

 

 

 

 

Three Months Ended

 

($ in thousands)

 

 

 

March 31,

 

Derivative Instrument(1)

 

Income Statement Line Item of Recognized Gain (Loss)

 

2026

 

2025

 

Cash flow hedges:

 

 

 

 

 

 

 

   Variable rate loans

 

Interest income - loans

 

$

(5,980

)

$

(8,460

)

Fair value hedges:

 

 

 

 

 

 

 

Securities

 

Interest income - securities - taxable

 

 

1,674

 

 

3,910

 

   Securities - sold

 

Noninterest income - securities transaction, net

 

 

50,381

 

 

—

 

Derivatives not designated as hedging:

 

 

 

   Residential mortgage banking

 

Noninterest income - secondary mortgage market operations

 

 

132

 

 

304

 

   Customer and all other instruments

 

Noninterest income - other noninterest income

 

 

960

 

 

(271

)

Total gain (loss)

 

 

 

$

47,167

 

$

(4,517

)
(1)
Includes the effects of both active derivative instruments and the impact from realization of basis adjustments to hedged assets resulting from previously terminated hedges.
Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements Offsetting information in regards to all derivative assets and liabilities, including accrued interest, subject to these master netting agreements at March 31, 2026 and December 31, 2025 is presented in the following tables

As of March 31, 2026

 

 

 

Gross Amounts Offset in

 

Net Amounts Presented in

 

 

Gross Amounts Not Offset in the
Statement of Financial Condition

 

($ in thousands)

 

Gross Amounts
Recognized

 

the Statement
of Financial Condition

 

the Statement
of Financial Condition

 

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

 

Derivative Assets

 

$

87,792

 

$

(43,493

)

$

44,299

 

 

$

31,619

 

$

32,073

 

$

44,753

 

Derivative Liabilities

 

$

31,619

 

$

—

 

$

31,619

 

 

$

31,619

 

$

—

 

$

—

 

As of December 31, 2025

 

 

 

Gross Amounts Offset in

 

Net Amounts Presented in

 

 

Gross Amounts Not Offset in the
Statement of Financial Condition

 

($ in thousands)

 

Gross Amounts
Recognized

 

the Statement
of Financial Condition

 

the Statement
of Financial Condition

 

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

 

Derivative Assets

 

$

89,930

 

$

(43,810

)

$

46,120

 

 

$

36,259

 

$

32,890

 

$

42,751

 

Derivative Liabilities

 

$

36,264

 

$

(5

)

$

36,259

 

 

$

36,259

 

$

—

 

$

—

 
v3.26.1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)

A rollforward of the components of Accumulated Other Comprehensive Income (Loss) is presented in the table that follows:

($ in thousands)

Available
for Sale
Securities

 

HTM Securities
Transferred
from AFS

 

Employee
Benefit Plans

 

Cash
Flow Hedges

 

Equity Method Investment

 

Total

 

Balance, December 31, 2025

$

(293,835

)

$

(6,858

)

$

(61,448

)

$

(14,795

)

$

685

 

$

(376,251

)

Net change in unrealized gain (loss)

 

(30,250

)

 

—

 

 

—

 

 

(8,098

)

 

(126

)

 

(38,474

)

Reclassification of net loss realized and included in earnings

 

98,595

 

 

—

 

 

17

 

 

5,980

 

 

—

 

 

104,592

 

Valuation adjustments to employee benefit plans

 

—

 

 

—

 

 

(496

)

 

—

 

 

—

 

 

(496

)

Amortization of unrealized net loss on securities transferred to HTM

 

—

 

 

413

 

 

—

 

 

—

 

 

—

 

 

413

 

Income tax (expense) benefit

 

(15,404

)

 

(93

)

 

108

 

 

478

 

 

—

 

 

(14,911

)

Balance, March 31, 2026

$

(240,894

)

$

(6,538

)

$

(61,819

)

$

(16,435

)

$

559

 

$

(325,127

)

Balance, December 31, 2024

$

(473,679

)

$

(8,071

)

$

(77,235

)

$

(47,136

)

$

29

 

$

(606,092

)

Net change in unrealized gain (loss)

 

102,125

 

 

—

 

 

—

 

 

7,560

 

 

(173

)

 

109,512

 

Reclassification of net loss realized and included in earnings

 

—

 

 

—

 

 

955

 

 

8,460

 

 

—

 

 

9,415

 

Amortization of unrealized net loss on securities transferred to HTM

 

—

 

 

405

 

 

—

 

 

—

 

 

—

 

 

405

 

Income tax expense

 

(24,014

)

 

(109

)

 

(384

)

 

(3,705

)

 

—

 

 

(28,212

)

Balance, March 31, 2025

$

(395,568

)

$

(7,775

)

$

(76,664

)

$

(34,821

)

$

(144

)

$

(514,972

)
Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income

The following table shows the line items in the consolidated statements of income affected by amounts reclassified from AOCI.

 

 

 

Three Months Ended

 

 

 

Amount reclassified from AOCI (a)

 

March 31,

 

 

Income Statement

($ in thousands)

 

2026

 

 

2025

 

 

Line Item

Loss on sale of AFS securities

 

$

(98,595

)

 

$

—

 

 

Securities transactions, net

Tax effect

 

 

22,222

 

 

 

—

 

 

Income taxes

Net of tax

 

 

(76,373

)

 

 

—

 

 

Net income

Amortization of unrealized net loss on securities transferred to HTM

 

 

(413

)

 

 

(405

)

 

Interest income

Tax effect

 

 

93

 

 

 

109

 

 

Income taxes

Net of tax

 

 

(320

)

 

 

(296

)

 

Net income

Amortization of defined benefit pension and post-retirement items

 

 

(17

)

 

 

(955

)

 

Other noninterest expense (b)

Tax effect

 

 

4

 

 

 

384

 

 

Income taxes

Net of tax

 

 

(13

)

 

 

(571

)

 

Net income

Reclassification of unrealized loss on cash flow hedges

 

 

(4,470

)

 

 

(6,950

)

 

Interest income

Tax effect

 

 

1,009

 

 

 

1,607

 

 

Income taxes

Net of tax

 

 

(3,461

)

 

 

(5,343

)

 

Net income

Amortization of loss on terminated cash flow hedges

 

 

(1,510

)

 

 

(1,510

)

 

Interest income

Tax effect

 

 

341

 

 

 

349

 

 

Income taxes

Net of tax

 

 

(1,169

)

 

 

(1,161

)

 

Net income

Total reclassifications, net of tax

 

$

(81,336

)

 

$

(7,371

)

 

Net income

 

(a)
Amounts in parentheses indicate reduction in net income.
(b)
These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with other noninterest
expense (see Note 12 – Retirement Plans for additional details).
v3.26.1
Other Noninterest Income (Tables)
 3 Months Ended
Mar. 31, 2026
Other Income, Nonoperating [Abstract]  
Components of Other Noninterest Income

Components of other noninterest income are as follows:

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Income from bank-owned life insurance

 

$

5,267

 

 

$

4,873

 

Credit related fees

 

 

2,775

 

 

 

2,840

 

Income (loss) from customer and other derivatives

 

 

960

 

 

 

(271

)

Net gains on sales of premises, equipment and other assets

 

 

2,046

 

 

 

1,857

 

Other miscellaneous

 

 

6,326

 

 

 

7,754

 

Total other noninterest income

 

$

17,374

 

 

$

17,053

 
v3.26.1
Other Noninterest Expense (Tables)
 3 Months Ended
Mar. 31, 2026
Other Expense, Nonoperating [Abstract]  
Components of Other Noninterest Expense

Components of other noninterest expense are as follows:

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands)

 

2026

 

 

2025

 

Corporate value and franchise taxes and other non-income taxes

 

$

4,416

 

 

$

4,303

 

Entertainment and contributions

 

 

4,218

 

 

 

3,387

 

Advertising

 

 

4,186

 

 

 

3,015

 

Telecommunications and postage

 

 

2,642

 

 

 

2,441

 

Travel expense

 

 

1,635

 

 

 

1,232

 

Tax credit investment amortization

 

 

903

 

 

 

1,068

 

Printing and supplies

 

 

985

 

 

 

902

 

Net other retirement expense

 

 

(5,311

)

 

 

(3,884

)

Other miscellaneous

 

 

8,267

 

 

 

8,173

 

Total other noninterest expense

 

$

21,941

 

 

$

20,637

 
v3.26.1
Earnings Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Computation of Earnings Per Common Share

A summary of the information used in the computation of earnings per common share follows.

 

 

Three Months Ended

 

 

 

March 31,

 

($ in thousands, except per share data)

 

2026

 

 

2025

 

Numerator:

 

 

 

 

 

 

Net income to common shareholders

 

$

47,422

 

 

$

119,504

 

Net income allocated to participating securities - basic and diluted

 

 

159

 

 

 

521

 

Net income allocated to common shareholders - basic and diluted

 

$

47,263

 

 

$

118,983

 

Denominator:

 

 

 

 

 

 

Weighted-average common shares - basic

 

 

81,674

 

 

 

86,092

 

Dilutive potential common shares

 

 

587

 

 

 

370

 

Weighted-average common shares - diluted

 

 

82,261

 

 

 

86,462

 

Earnings per common share:

 

 

 

 

 

 

Basic

 

$

0.58

 

 

$

1.38

 

Diluted

 

$

0.57

 

 

$

1.38

 
v3.26.1
Retirement Plans (Tables)
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Components of Net Periodic Benefits Cost

The following table shows the components of net periodic benefit cost included in expense for the periods indicated.

 

 

 

Three Months Ended March 31,

 

 

 

Pension Benefits

 

 

Other Post-Retirement Benefits

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Service cost

 

$

1,525

 

 

$

1,600

 

 

$

9

 

 

$

9

 

Interest cost

 

 

6,593

 

 

 

6,275

 

 

 

154

 

 

 

154

 

Expected return on plan assets

 

 

(12,075

)

 

 

(11,268

)

 

 

—

 

 

 

—

 

Amortization of net (gain) or loss and prior service costs

 

 

202

 

 

 

1,140

 

 

 

(185

)

 

 

(185

)

Net periodic benefit cost

 

$

(3,755

)

 

$

(2,253

)

 

$

(22

)

 

$

(22

)
v3.26.1
Share-Based Payment Arrangements (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Nonvested Restricted and Performance Shares A summary of the status of the Company’s nonvested restricted stock units and restricted and performance-based share awards at March 31, 2026 are presented in the following table.

 

 

 

 

 

Weighted Average

 

 

 

Number of Shares

 

 

Grant Date Fair Value

 

Nonvested at January 1, 2026

 

 

1,400,195

 

 

$

50.51

 

Granted

 

 

500,393

 

 

 

67.70

 

Vested

 

 

(408,533

)

 

 

50.47

 

Cancelled/Forfeited

 

 

(38,513

)

 

 

48.91

 

Nonvested at March 31, 2026

 

 

1,453,542

 

 

$

56.48

 
v3.26.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Off-Balance Sheet Financial Instruments

The following table presents a summary of the Company’s off-balance sheet financial instruments as of March 31, 2026 and December 31, 2025:

 

 

March 31,

 

 

December 31,

 

($ in thousands)

 

2026

 

 

2025

 

Commitments to extend credit

 

$

9,714,297

 

 

$

9,650,197

 

Letters of credit

 

 

421,096

 

 

 

409,010

 
v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present for each of the fair value hierarchy levels the Company’s financial assets and liabilities that are measured at fair value on a recurring basis on the consolidated balance sheets at March 31, 2026 and December 31, 2025:

 

 

March 31, 2026

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government agency securities

 

$

—

 

 

$

282,467

 

 

$

—

 

 

$

282,467

 

Municipal obligations

 

 

—

 

 

 

180,143

 

 

 

—

 

 

 

180,143

 

Corporate debt securities

 

 

—

 

 

 

16,237

 

 

 

—

 

 

 

16,237

 

Residential mortgage-backed securities

 

 

—

 

 

 

2,333,405

 

 

 

—

 

 

 

2,333,405

 

Commercial mortgage-backed securities

 

 

—

 

 

 

3,140,320

 

 

 

—

 

 

 

3,140,320

 

Collateralized mortgage obligations

 

 

—

 

 

 

23,814

 

 

 

—

 

 

 

23,814

 

Total available for sale securities

 

 

—

 

 

 

5,976,386

 

 

 

—

 

 

 

5,976,386

 

Mortgage loans held for sale

 

 

—

 

 

 

36,477

 

 

 

—

 

 

 

36,477

 

Derivative assets (1)

 

 

—

 

 

 

55,683

 

 

 

—

 

 

 

55,683

 

Total recurring fair value measurements - assets

 

$

—

 

 

$

6,068,546

 

 

$

—

 

 

$

6,068,546

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities (1)

 

$

—

 

 

$

90,061

 

 

$

1,082

 

 

$

91,143

 

Total recurring fair value measurements - liabilities

 

$

—

 

 

$

90,061

 

 

$

1,082

 

 

$

91,143

 

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.

 

 

December 31, 2025

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government agency securities

 

$

—

 

 

$

269,332

 

 

$

—

 

 

$

269,332

 

Municipal obligations

 

 

—

 

 

 

191,328

 

 

 

—

 

 

 

191,328

 

Corporate debt securities

 

 

—

 

 

 

16,357

 

 

 

—

 

 

 

16,357

 

Residential mortgage-backed securities

 

 

—

 

 

 

2,375,629

 

 

 

—

 

 

 

2,375,629

 

Commercial mortgage-backed securities

 

 

—

 

 

 

3,083,325

 

 

 

—

 

 

 

3,083,325

 

Collateralized mortgage obligations

 

 

—

 

 

 

25,946

 

 

 

—

 

 

 

25,946

 

Total available for sale securities

 

 

—

 

 

 

5,961,917

 

 

 

—

 

 

 

5,961,917

 

Mortgage loans held for sale

 

 

—

 

 

 

33,158

 

 

 

—

 

 

 

33,158

 

Derivative assets (1)

 

 

—

 

 

 

63,126

 

 

 

—

 

 

 

63,126

 

Total recurring fair value measurements - assets

 

$

—

 

 

$

6,058,201

 

 

$

—

 

 

$

6,058,201

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities (1)

 

$

—

 

 

$

94,083

 

 

$

1,284

 

 

$

95,367

 

Total recurring fair value measurements - liabilities

 

$

—

 

 

$

94,083

 

 

$

1,284

 

 

$

95,367

 

(1) For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.
Financial Assets Measured at Fair Value on Nonrecurring Basis

The following tables present the Company’s financial assets that are measured at fair value on a nonrecurring basis for each of the fair value hierarchy levels.

 

 

March 31, 2026

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Collateral-dependent individually evaluated loans

 

$

—

 

 

$

—

 

 

$

26,109

 

 

$

26,109

 

Other real estate owned and foreclosed assets

 

 

—

 

 

 

—

 

 

 

11,257

 

 

 

11,257

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

37,366

 

 

$

37,366

 

 

 

December 31, 2025

 

($ in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Collateral-dependent individually evaluated loans

 

$

—

 

 

$

—

 

 

$

33,762

 

 

$

33,762

 

Other real estate owned and foreclosed assets, net

 

 

—

 

 

 

—

 

 

 

14,788

 

 

 

14,788

 

Total nonrecurring fair value measurements

 

$

—

 

 

$

—

 

 

$

48,550

 

 

$

48,550

 
Estimated Fair Values of Financial Instruments

The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amounts.

 

March 31, 2026

 

 

 

 

 

 

 

 

Total Fair

 

Carrying

 

($ in thousands)

Level 1

 

Level 2

 

Level 3

 

Value

 

Amount

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

Cash, interest-bearing bank deposits, and federal funds sold

$

779,018

 

$

212

 

$

—

 

$

779,230

 

$

779,230

 

Available for sale securities

 

—

 

 

5,976,386

 

 

—

 

 

5,976,386

 

 

5,976,386

 

Held to maturity securities

 

—

 

 

1,926,729

 

 

—

 

 

1,926,729

 

 

2,051,628

 

Loans, net

 

—

 

 

—

 

 

23,577,647

 

 

23,577,647

 

 

23,680,524

 

Loans held for sale

 

—

 

 

63,090

 

 

—

 

 

63,090

 

 

63,090

 

Derivative financial instruments

 

—

 

 

55,683

 

 

—

 

 

55,683

 

 

55,683

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits

$

—

 

$

—

 

$

29,072,945

 

$

29,072,945

 

$

29,082,134

 

Federal funds purchased

 

—

 

 

325

 

 

—

 

 

325

 

 

325

 

Securities sold under agreements to repurchase

 

—

 

 

660,126

 

 

—

 

 

660,126

 

 

660,126

 

Short-term FHLB Borrowings

 

—

 

 

700,215

 

 

—

 

 

700,215

 

 

700,000

 

Long-term debt

 

—

 

 

155,330

 

 

—

 

 

155,330

 

 

193,785

 

Derivative financial instruments

 

—

 

 

90,061

 

 

1,082

 

 

91,143

 

 

91,143

 

 

 

December 31, 2025

 

($ in thousands)

Level 1

 

Level 2

 

Level 3

 

Total Fair
Value

 

Carrying
Amount

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

Cash, interest-bearing bank deposits, and federal funds sold

$

695,032

 

$

229

 

$

—

 

$

695,261

 

$

695,261

 

Available for sale securities

 

—

 

 

5,961,917

 

 

—

 

 

5,961,917

 

 

5,961,917

 

Held to maturity securities

 

—

 

 

2,011,026

 

 

—

 

 

2,011,026

 

 

2,132,882

 

Loans, net

 

—

 

 

—

 

 

23,588,681

 

 

23,588,681

 

 

23,650,709

 

Loans held for sale

 

—

 

 

33,158

 

 

—

 

 

33,158

 

 

33,158

 

Derivative financial instruments

 

—

 

 

63,126

 

 

—

 

 

63,126

 

 

63,126

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

Deposits

$

—

 

$

—

 

$

29,274,190

 

$

29,274,190

 

$

29,279,774

 

Federal funds purchased

 

—

 

 

70,400

 

 

—

 

 

70,400

 

 

70,400

 

Securities sold under agreements to repurchase

 

—

 

 

546,892

 

 

—

 

 

546,892

 

 

546,892

 

Short-term FHLB Borrowings

 

—

 

 

400,000

 

 

—

 

 

400,000

 

 

400,000

 

Long-term debt

 

—

 

 

162,257

 

 

—

 

 

162,257

 

 

199,407

 

Derivative financial instruments

 

—

 

 

94,083

 

 

1,284

 

 

95,367

 

 

95,367

 
v3.26.1
Acquisition - Summary of Preliminary Acquisition Date Fair Value of Assets Acquired and Liabilities Assumed, Consideration Paid, and Resulting Goodwill (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
LIABILITIES    
Goodwill $ 925,404 $ 925,404
v3.26.1
Securities (Narrative) (Details)
 1 Months Ended 3 Months Ended
Jan. 31, 2026
USD ($)
Mar. 31, 2026
USD ($)
Security
Mar. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Security
Debt and Equity Securities, FV-NI [Line Items]        
Securities with an aggregate fair value   $ 4,468,133,000   $ 4,226,864,000
Securities available for sale, amortized cost   6,287,446,000   6,341,322,000
Securities classified as trading   0   $ 0
Restructuring costs $ 1,500,000,000      
Net realized loss $ (50,400,000) (98,595,000) $ 0  
Allowance for credit loss   $ 0    
Securities that met the criteria of a credit loss event | Security   0    
Number of securities with market values below their cost basis | Security   592   604
Asset Pledged as Collateral without Right [Member]        
Debt and Equity Securities, FV-NI [Line Items]        
Securities pledged as collateral   $ 3,500,000,000   $ 3,900,000,000
Available for Sale and Held to Maturity [Member]        
Debt and Equity Securities, FV-NI [Line Items]        
Amortized cost of securities excluding accrued interest   $ 33,600,000   $ 31,700,000
v3.26.1
Securities (Amortized Cost and Fair Value of Debt Securities Available for Sale) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost $ 6,287,446 $ 6,341,322
Securities Available for Sale, Gross Unrealized Gains 17,322 25,997
Securities Available for Sale, Gross Unrealized Losses 328,382 405,402
Securities Available for Sale, Fair Value 5,976,386 5,961,917
U.S. Treasury And Government Agency Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 279,080 266,825
Securities Available for Sale, Gross Unrealized Gains 4,562 3,705
Securities Available for Sale, Gross Unrealized Losses 1,175 1,198
Securities Available for Sale, Fair Value 282,467 269,332
Municipal Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 180,786 191,754
Securities Available for Sale, Gross Unrealized Gains 49 82
Securities Available for Sale, Gross Unrealized Losses 692 508
Securities Available for Sale, Fair Value 180,143 191,328
Residential Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 2,567,467 2,620,980
Securities Available for Sale, Gross Unrealized Gains 6,254 11,643
Securities Available for Sale, Gross Unrealized Losses 240,316 256,994
Securities Available for Sale, Fair Value 2,333,405 2,375,629
Commercial Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 3,218,115 3,217,663
Securities Available for Sale, Gross Unrealized Gains 6,457 10,530
Securities Available for Sale, Gross Unrealized Losses 84,252 144,868
Securities Available for Sale, Fair Value 3,140,320 3,083,325
Collateralized Mortgage Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 24,998 27,100
Securities Available for Sale, Gross Unrealized Losses 1,184 1,154
Securities Available for Sale, Fair Value 23,814 25,946
Corporate Debt Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Securities Available for Sale, Amortized Cost 17,000 17,000
Securities Available for Sale, Gross Unrealized Gains   37
Securities Available for Sale, Gross Unrealized Losses 763 680
Securities Available for Sale, Fair Value $ 16,237 $ 16,357
v3.26.1
Securities (Amortized Cost and Fair Value of Debt Securities Held to Maturity) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost $ 2,051,628 $ 2,132,882
Securities Held to Maturity, Gross Unrealized Gains 641 956
Securities Held to Maturity, Gross Unrealized Losses 125,540 122,812
Securities Held to Maturity, Fair Value 1,926,729 2,011,026
U.S. Treasury And Government Agency Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost 368,667 373,605
Securities Held to Maturity, Gross Unrealized Gains 271 248
Securities Held to Maturity, Gross Unrealized Losses 29,171 30,143
Securities Held to Maturity, Fair Value 339,767 343,710
Municipal Obligations [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost 457,346 511,516
Securities Held to Maturity, Gross Unrealized Gains 370 708
Securities Held to Maturity, Gross Unrealized Losses 11,556 11,455
Securities Held to Maturity, Fair Value 446,160 500,769
Residential Mortgage-Backed Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost 480,249 497,338
Securities Held to Maturity, Gross Unrealized Losses 35,764 34,239
Securities Held to Maturity, Fair Value 444,485 463,099
Commercial Mortgage-Backed Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost 728,004 731,329
Securities Held to Maturity, Gross Unrealized Losses 48,510 46,455
Securities Held to Maturity, Fair Value 679,494 684,874
Collateralized Mortgage Obligations [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Securities Held to Maturity, Gross Amortized Cost 17,362 19,094
Securities Held to Maturity, Gross Unrealized Losses 539 520
Securities Held to Maturity, Fair Value $ 16,823 $ 18,574
v3.26.1
Securities (Amortized Cost and Fair Value of Debt Securities by Contractual Maturity) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Debt Securities Available for Sale, Due in one year or less, Amortized Cost $ 35,304  
Debt Securities Available for Sale, Due after one year through five years, Amortized Cost 1,382,114  
Debt Securities Available for Sale, Due after five years through ten years, Amortized Cost 2,091,263  
Debt Securities Available for Sale, Due after ten years, Amortized Cost 2,778,765  
Securities Available for Sale, Amortized Cost 6,287,446 $ 6,341,322
Debt Securities Available for Sale, Due in one year or less, Fair Value 35,323  
Debt Securities Available for Sale, Due after one year through five years, Fair Value 1,360,911  
Debt Securities Available for Sale, Due after five years through ten years, Fair Value 2,020,407  
Debt Securities Available for Sale, Due after ten years, Fair Value 2,559,745  
Total debt securities available for sale, Fair Value 5,976,386 5,961,917
Debt Securities Held to Maturity, Due in one year or less, Amortized Cost 139,208  
Debt Securities Held to Maturity, Due after one year through five years, Amortized Cost 701,252  
Debt Securities Held to Maturity, Due after five years through ten years, Amortized Cost 419,862  
Debt Securities Held to Maturity, Due after ten years, Amortized Cost 791,306  
Securities Held to Maturity, Gross Amortized Cost 2,051,628 2,132,882
Debt Securities Held to Maturity, Due in one year or less, Fair Value 138,554  
Debt Securities Held to Maturity, Due after one year through five years, Fair Value 678,711  
Debt Securities Held to Maturity, Due after five years through ten years, Fair Value 397,573  
Debt Securities Held to Maturity, Due after ten years, Fair Value 711,891  
Total debt securities held to maturity, Fair Value $ 1,926,729 $ 2,011,026
v3.26.1
Securities (Proceeds from, Gross Gains on, and Gross Losses on Sales of Securities) (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
Jan. 31, 2026
Mar. 31, 2026
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]      
Proceeds   $ 1,414,258 $ 0
Gross gains   7 0
Gross losses   98,602 0
Net loss $ (50,400) $ (98,595) $ 0
v3.26.1
Securities (Securities Available for Sale with Unrealized Losses) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value $ 2,215,103 $ 448,456
Available for sale, Losses less than 12 months, Gross Unrealized Losses 23,673 2,396
Available for sale, Losses 12 months or longer, Fair Value 2,253,030 3,778,408
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 304,709 403,006
Available for sale, Total, Fair Value 4,468,133 4,226,864
Available for sale, Total, Gross Unrealized Losses 328,382 405,402
U.S. Treasury And Government Agency Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 11,910 17,468
Available for sale, Losses less than 12 months, Gross Unrealized Losses 101 9
Available for sale, Losses 12 months or longer, Fair Value 6,708 14,677
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 1,074 1,189
Available for sale, Total, Fair Value 18,618 32,145
Available for sale, Total, Gross Unrealized Losses 1,175 1,198
Municipal Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 47,068 0
Available for sale, Losses less than 12 months, Gross Unrealized Losses 400 0
Available for sale, Losses 12 months or longer, Fair Value 95,944 124,852
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 292 508
Available for sale, Total, Fair Value 143,012 124,852
Available for sale, Total, Gross Unrealized Losses 692 508
Residential Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 395,000 54,250
Available for sale, Losses less than 12 months, Gross Unrealized Losses 3,778 598
Available for sale, Losses 12 months or longer, Fair Value 1,283,981 1,442,746
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 236,538 256,396
Available for sale, Total, Fair Value 1,678,981 1,496,996
Available for sale, Total, Gross Unrealized Losses 240,316 256,994
Commercial Mortgage-Backed Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 1,758,136 374,740
Available for sale, Losses less than 12 months, Gross Unrealized Losses 19,383 1,787
Available for sale, Losses 12 months or longer, Fair Value 829,335 2,158,865
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 64,869 143,081
Available for sale, Total, Fair Value 2,587,471 2,533,605
Available for sale, Total, Gross Unrealized Losses 84,252 144,868
Collateralized Mortgage Obligations [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 0 0
Available for sale, Losses less than 12 months, Gross Unrealized Losses 0 0
Available for sale, Losses 12 months or longer, Fair Value 23,814 25,946
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 1,184 1,154
Available for sale, Total, Fair Value 23,814 25,946
Available for sale, Total, Gross Unrealized Losses 1,184 1,154
Corporate Debt Securities [Member]    
Debt Securities, Available-for-Sale [Line Items]    
Available for sale, Losses less than 12 months, Fair Value 2,989 1,998
Available for sale, Losses less than 12 months, Gross Unrealized Losses 11 2
Available for sale, Losses 12 months or longer, Fair Value 13,248 11,322
Available for sale, Losses 12 months or longer, Gross Unrealized Losses 752 678
Available for sale, Total, Fair Value 16,237 13,320
Available for sale, Total, Gross Unrealized Losses $ 763 $ 680
v3.26.1
Securities (Securities Held to Maturity with Unrealized Losses) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value $ 110,224 $ 98,559
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 329 97
Held to Maturity, Losses 12 months or longer, Fair Value 1,625,308 1,808,602
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 125,211 122,715
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 1,735,532 1,907,161
Held to Maturity, Total, Gross Unrealized Losses 125,540 122,812
U.S. Treasury And Government Agency Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value 8,563 0
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 24 0
Held to Maturity, Losses 12 months or longer, Fair Value 313,146 316,814
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 29,147 30,143
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 321,709 316,814
Held to Maturity, Total, Gross Unrealized Losses 29,171 30,143
Municipal Obligations [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value 101,661 98,559
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 305 97
Held to Maturity, Losses 12 months or longer, Fair Value 171,360 325,241
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 11,251 11,358
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 273,021 423,800
Held to Maturity, Total, Gross Unrealized Losses 11,556 11,455
Residential Mortgage-Backed Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value 0 0
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 0 0
Held to Maturity, Losses 12 months or longer, Fair Value 444,485 463,099
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 35,764 34,239
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 444,485 463,099
Held to Maturity, Total, Gross Unrealized Losses 35,764 34,239
Commercial Mortgage-Backed Securities [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value 0 0
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 0 0
Held to Maturity, Losses 12 months or longer, Fair Value 679,494 684,874
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 48,510 46,455
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 679,494 684,874
Held to Maturity, Total, Gross Unrealized Losses 48,510 46,455
Collateralized Mortgage Obligations [Member]    
Schedule of Held-to-maturity Securities [Line Items]    
Held to Maturity, Losses less than 12 months, Fair Value 0 0
Held to Maturity, Losses less than 12 months, Gross Unrealized Losses 0 0
Held to Maturity, Losses 12 months or longer, Fair Value 16,823 18,574
Held to Maturity, Losses 12 months or longer, Gross Unrealized Losses 539 520
Held To Maturity Securities Unrealized Loss Position Fair Value, Total 16,823 18,574
Held to Maturity, Total, Gross Unrealized Losses $ 539 $ 520
v3.26.1
Loans and Allowance for Credit Losses (Narrative) (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Loan
Mar. 31, 2025
USD ($)
Loan
Dec. 31, 2025
USD ($)
Accounts Notes And Loans Receivable [Line Items]      
Accrued interest $ 105,800   $ 105,100
Percentage of baseline economic forecast 40.00% 40.00%  
Description of post modification defaults A payment default occurs if the loan is either 90 days or more delinquent or has been charged off as of the end of the period presented.    
Nonaccrual loans $ 113,343   106,870
Real estate in process of foreclosure 63,100   33,200
Loans held for sale 63,090   33,158
Modified Loans To Borrowers Experiencing Financial Difficulty [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans 14,300   5,800
Accruing and nonaccruing 142,800   162,800
Unfunded exposure to borrowers related to MEFD or TDR $ 10,100   7,200
Downside Mild Recessionary S-2 [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Percentage of baseline economic forecast 60.00% 60.00%  
Total Commercial [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Number of contracts subsequently defaulted | Loan 6 2  
Recorded Investment $ 40,100 $ 1,900  
Residential Mortgages [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans $ 51,262   46,986
Number of contracts subsequently defaulted | Loan 1    
Recorded Investment $ 27    
Loans carried at fair value option 36,500   33,200
Unpaid principal balance 36,000   32,300
Consumer [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans 11,732   10,703
Real estate in process of foreclosure 12,000   12,000
Real estate acquired through foreclosure $ 4,300   5,100
Weighted Average [Member] | Total Commercial [Member] | Term Extension [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Reportable modification period 18 months 5 months  
Weighted Average [Member] | Total Commercial [Member] | Other Than Insignificant Payment Delays [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Reportable modification period 16 months 5 months  
Weighted Average [Member] | Residential Mortgages [Member] | Term Extension [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Reportable modification period 2 years 1 year  
Weighted Average [Member] | Residential Mortgages [Member] | Other Than Insignificant Payment Delays [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Reportable modification period   1 month  
Weighted Average [Member] | Consumer [Member] | Term Extension [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Reportable modification period 5 years    
Weighted Average [Member] | Energy Related Loans [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Weighted average interest rate reduction, basis points 1.64%    
Total Commercial And Industrial [Member] | Total Commercial [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans $ 47,311   41,248
Commercial Non-Real Estate [Member] | Total Commercial And Industrial [Member] | Total Commercial [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans 41,381   34,525
Commercial Real Estate - Owner Occupied [Member] | Total Commercial And Industrial [Member] | Total Commercial [Member]      
Accounts Notes And Loans Receivable [Line Items]      
Nonaccrual loans $ 5,930   $ 6,723
v3.26.1
Loans and Allowance for Credit Losses (Loans, Net of Unearned Income) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts Notes And Loans Receivable [Line Items]    
Total loans $ 23,991,840 $ 23,958,440
Residential Mortgages [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 3,950,154 4,016,917
Consumer [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 1,328,039 1,340,178
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 4,382,665 4,283,168
Construction and Land Development [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 1,320,224 1,239,086
Total Commercial And Industrial [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 13,010,758 13,079,091
Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans 9,710,891 9,809,011
Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Total loans $ 3,299,867 $ 3,270,080
v3.26.1
Loans and Allowance for Credit Losses (Allowance for Credit Losses by Portfolio Class) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance $ 307,731 $ 318,882
Allowance for loan losses: Net provision for loan losses 13,172 10,462
Allowance for loan losses: Ending balance 311,316 318,119
Reserve for unfunded lending commitments: Beginning balance 33,928 24,053
Reserve for unfunded lending commitments: Provision for losses 1,549 (978)
Reserve for unfunded lending commitments: Ending balance 32,379 25,031
Total allowance for credit losses 343,695 343,150
Allowance for credit losses: Individually evaluated 11,233 11,404
Allowance for credit losses: Collectively evaluated 332,462 331,746
Non-Purchased Credit Impaired Loans [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (13,393) (13,293)
Allowance for loan losses: Recoveries 2,257 3,046
Allowance for loan losses: Net provision for loan losses 14,721 9,484
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 60,475 71,975
Allowance for loan losses: Ending balance 57,115 70,379
Reserve for unfunded lending commitments: Beginning balance 1,005 642
Reserve for unfunded lending commitments: Provision for losses 183 (198)
Reserve for unfunded lending commitments: Ending balance 822 444
Total allowance for credit losses 57,937 70,823
Allowance for credit losses: Collectively evaluated 57,937 70,823
Total Commercial [Member] | Construction and Land Development [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 17,450 21,158
Allowance for loan losses: Ending balance 17,710 20,208
Reserve for unfunded lending commitments: Beginning balance 17,949 14,639
Reserve for unfunded lending commitments: Provision for losses 86 (696)
Reserve for unfunded lending commitments: Ending balance 18,035 15,335
Total allowance for credit losses 35,745 35,543
Allowance for credit losses: Collectively evaluated 35,745 35,543
Total Commercial [Member] | Non-Purchased Credit Impaired Loans [Member] | Commercial Real Estate - Income Producing [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs 0 (34)
Allowance for loan losses: Recoveries 3 0
Allowance for loan losses: Net provision for loan losses (3,363) 1,562
Total Commercial [Member] | Non-Purchased Credit Impaired Loans [Member] | Construction and Land Development [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (219) (8)
Allowance for loan losses: Recoveries 1 110
Allowance for loan losses: Net provision for loan losses (478) (1,052)
Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 162,134 157,354
Allowance for loan losses: Ending balance 171,219 158,348
Reserve for unfunded lending commitments: Beginning balance 13,010 6,750
Reserve for unfunded lending commitments: Provision for losses 1,340 502
Reserve for unfunded lending commitments: Ending balance 11,670 7,252
Total allowance for credit losses 182,889 165,600
Allowance for credit losses: Individually evaluated 10,947 10,455
Allowance for credit losses: Collectively evaluated 171,942 155,145
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 121,439 121,090
Allowance for loan losses: Net provision for loan losses 13,433  
Allowance for loan losses: Ending balance 127,489 122,215
Reserve for unfunded lending commitments: Beginning balance 12,639 6,441
Reserve for unfunded lending commitments: Provision for losses (1,292) 515
Reserve for unfunded lending commitments: Ending balance 11,347 6,956
Total allowance for credit losses 138,836 129,171
Allowance for credit losses: Individually evaluated 10,947 10,406
Allowance for credit losses: Collectively evaluated 127,889 118,765
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 40,695 36,264
Allowance for loan losses: Ending balance 43,730 36,133
Reserve for unfunded lending commitments: Beginning balance 371 309
Reserve for unfunded lending commitments: Provision for losses (48) (13)
Reserve for unfunded lending commitments: Ending balance 323 296
Total allowance for credit losses 44,053 36,429
Allowance for credit losses: Individually evaluated   49
Allowance for credit losses: Collectively evaluated 44,053 36,380
Total Commercial [Member] | Total Commercial And Industrial [Member] | Non-Purchased Credit Impaired Loans [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (8,514) (8,873)
Allowance for loan losses: Recoveries 1,265 1,745
Allowance for loan losses: Net provision for loan losses 16,334 8,122
Total Commercial [Member] | Total Commercial And Industrial [Member] | Non-Purchased Credit Impaired Loans [Member] | Commercial Non-Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (8,506) (6,132)
Allowance for loan losses: Recoveries 1,123 1,650
Allowance for loan losses: Net provision for loan losses   5,607
Total Commercial [Member] | Total Commercial And Industrial [Member] | Non-Purchased Credit Impaired Loans [Member] | Commercial Real Estate - Owner Occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (8)  
Allowance for loan losses: Recoveries 142 95
Allowance for loan losses: Net provision for loan losses 2,901 (2,515)
Residential Mortgages [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 42,834 42,445
Allowance for loan losses: Ending balance 41,566 43,200
Reserve for unfunded lending commitments: Beginning balance 3 4
Reserve for unfunded lending commitments: Provision for losses (2) (1)
Reserve for unfunded lending commitments: Ending balance 1 3
Total allowance for credit losses 41,567 43,203
Allowance for credit losses: Individually evaluated 234 752
Allowance for credit losses: Collectively evaluated 41,333 42,451
Residential Mortgages [Member] | Non-Purchased Credit Impaired Loans [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (250) (167)
Allowance for loan losses: Recoveries 71 387
Allowance for loan losses: Net provision for loan losses 1,089 535
Consumer [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Beginning balance 24,838 25,950
Allowance for loan losses: Ending balance 23,706 25,984
Reserve for unfunded lending commitments: Beginning balance 1,961 2,018
Reserve for unfunded lending commitments: Provision for losses (110) 21
Reserve for unfunded lending commitments: Ending balance 1,851 1,997
Total allowance for credit losses 25,557 27,981
Allowance for credit losses: Individually evaluated 52 197
Allowance for credit losses: Collectively evaluated 25,505 27,784
Consumer [Member] | Non-Purchased Credit Impaired Loans [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Allowance for loan losses: Charge-offs (4,410) (4,211)
Allowance for loan losses: Recoveries 917 804
Allowance for loan losses: Net provision for loan losses $ 2,361 $ 3,441
v3.26.1
Loans and Allowance for Credit Losses (Composition of Nonaccrual Loans and Without an Allowance for Loan Loss by Portfolio Class) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual $ 113,343 $ 106,870
Nonaccrual without allowance for loan loss 10,681 14,883
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 2,010 4,760
Nonaccrual without allowance for loan loss 1,326 5,114
Total Commercial [Member] | Construction and Land Development [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 1,028 3,173
Nonaccrual without allowance for loan loss 0 2,178
Residential Mortgages [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 51,262 46,986
Nonaccrual without allowance for loan loss 1,076 2,511
Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 11,732 10,703
Nonaccrual without allowance for loan loss 167 316
Total Commercial And Industrial [Member] | Total Commercial [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 47,311 41,248
Nonaccrual without allowance for loan loss 8,112 4,764
Total Commercial And Industrial [Member] | Total Commercial [Member] | Commercial Non-Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 41,381 34,525
Nonaccrual without allowance for loan loss 5,302 3,294
Total Commercial And Industrial [Member] | Total Commercial [Member] | Commercial Real Estate - Owner Occupied [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Nonaccrual 5,930 6,723
Nonaccrual without allowance for loan loss $ 2,810 $ 1,470
v3.26.1
Loans and Allowance for Credit Losses (Provides Detail by Portfolio Class for Reportable MEFDs) (Details) - Modified Loans To Borrowers Experiencing Financial Difficulty [Member] - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 142,800   $ 162,800
Term Extension [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance 7,451 $ 58,233  
Reportable modified loans percentage of portfolio class   0.25%  
Term Extension [Member] | Residential Mortgages [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 3,949 $ 13,167  
Reportable modified loans percentage of portfolio class 0.10% 0.33%  
Term Extension [Member] | Consumer [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 31    
Reportable modified loans percentage of portfolio class 0.00%    
Significant Payment Delay [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 16,305 $ 609  
Reportable modified loans percentage of portfolio class 0.07% 0.00%  
Significant Payment Delay [Member] | Residential Mortgages [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance   $ 412  
Reportable modified loans percentage of portfolio class   0.01%  
Term Extensions and Significant Payment Delay [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 7,425    
Reportable modified loans percentage of portfolio class 0.03%    
Other [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 263    
Reportable modified loans percentage of portfolio class 0.00%    
Other [Member] | Residential Mortgages [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 263    
Reportable modified loans percentage of portfolio class 0.01%    
Total Commercial And Industrial [Member] | Term Extension [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 3,471 $ 45,066  
Reportable modified loans percentage of portfolio class 0.03% 0.36%  
Total Commercial And Industrial [Member] | Term Extension [Member] | Commercial Non-Real Estate [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 3,471 $ 44,700  
Reportable modified loans percentage of portfolio class 0.04% 0.46%  
Total Commercial And Industrial [Member] | Term Extension [Member] | Commercial Real Estate - Owner Occupied [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance   $ 366  
Reportable modified loans percentage of portfolio class   0.01%  
Total Commercial And Industrial [Member] | Significant Payment Delay [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 16,305 $ 197  
Reportable modified loans percentage of portfolio class 0.13% 0.00%  
Total Commercial And Industrial [Member] | Significant Payment Delay [Member] | Commercial Non-Real Estate [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 16,305 $ 197  
Reportable modified loans percentage of portfolio class 0.17% 0.00%  
Total Commercial And Industrial [Member] | Term Extensions and Significant Payment Delay [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 7,425    
Reportable modified loans percentage of portfolio class 0.06%    
Total Commercial And Industrial [Member] | Term Extensions and Significant Payment Delay [Member] | Commercial Non-Real Estate [Member]      
Financing Receivable, Modifications [Line Items]      
Total reportable modified loans, Balance $ 7,425    
Reportable modified loans percentage of portfolio class 0.08%    
v3.26.1
Loans and Allowance for Credit Losses (Aging Analysis of Reportable Modifications To Borrowers Experiencing Financial Difficulty by Portfolio Class) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans $ 142,767 $ 162,849
30-59 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 10,150 1,285
60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 27,114 28,086
Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 12,665 882
Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 49,929 30,253
Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 92,838 132,596
Construction and Land Development [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 147  
Construction and Land Development [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 147  
Construction and Land Development [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 147  
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 13,957 14,914
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 1,217  
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 1,705  
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 2,922 0
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 11,035 14,914
Total Commercial [Member] | Construction and Land Development [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans   147
Total Commercial [Member] | Construction and Land Development [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans   147
Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 116,584 132,254
Total Commercial [Member] | Total Commercial And Industrial [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 9,850 27,670
Total Commercial [Member] | Total Commercial And Industrial [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 23,671  
Total Commercial [Member] | Total Commercial And Industrial [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 10,638 734
Total Commercial [Member] | Total Commercial And Industrial [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 44,159 28,404
Total Commercial [Member] | Total Commercial And Industrial [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 72,425 103,850
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 87,656 103,315
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 9,850 27,670
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 543  
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 5,069 734
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 15,462 28,404
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 72,194 74,911
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 28,928 28,939
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 23,128  
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 5,569  
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 28,697  
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 231 28,939
Residential Mortgages [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 11,680 15,159
Residential Mortgages [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 300 1,285
Residential Mortgages [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 2,226 416
Residential Mortgages [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 27  
Residential Mortgages [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 2,553 1,701
Residential Mortgages [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 9,127 13,458
Consumer [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 399 375
Consumer [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 148 148
Consumer [Member] | Total Past Due [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans 148 148
Consumer [Member] | Current [Member]    
Financing Receivable, Modified, Past Due [Line Items]    
Total reportable modified loans $ 251 $ 227
v3.26.1
Loans and Allowance for Credit Losses (Aging Analysis of Past Due Loans by Portfolio Class) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans $ 23,991,840 $ 23,958,440
Recorded Investment > 90 Days and Still Accruing 29,885 28,798
30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 115,114 88,351
60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 64,995 69,653
Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 101,881 102,723
Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 281,990 260,727
Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 23,709,850 23,697,713
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 4,382,665 4,283,168
Recorded Investment > 90 Days and Still Accruing 4,312 2,928
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 15,891 990
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 1,360 2,806
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 5,842 7,177
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 23,093 10,973
Total Commercial [Member] | Commercial Real Estate - Income Producing [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 4,359,572 4,272,195
Total Commercial [Member] | Construction and Land Development [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 1,320,224 1,239,086
Recorded Investment > 90 Days and Still Accruing 147 565
Total Commercial [Member] | Construction and Land Development [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,189 1,754
Total Commercial [Member] | Construction and Land Development [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 247 564
Total Commercial [Member] | Construction and Land Development [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 1,090 3,488
Total Commercial [Member] | Construction and Land Development [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 4,526 5,806
Total Commercial [Member] | Construction and Land Development [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 1,315,698 1,233,280
Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 13,010,758 13,079,091
Recorded Investment > 90 Days and Still Accruing 23,340 21,944
Total Commercial [Member] | Total Commercial And Industrial [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 34,226 34,021
Total Commercial [Member] | Total Commercial And Industrial [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 45,868 43,624
Total Commercial [Member] | Total Commercial And Industrial [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 57,942 47,563
Total Commercial [Member] | Total Commercial And Industrial [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 138,036 125,208
Total Commercial [Member] | Total Commercial And Industrial [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 12,872,722 12,953,883
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 9,710,891 9,809,011
Recorded Investment > 90 Days and Still Accruing 15,105 20,358
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 28,794 19,008
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 18,882 43,316
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 44,631 39,954
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 92,307 102,278
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Non-Real Estate [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 9,618,584 9,706,733
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,299,867 3,270,080
Recorded Investment > 90 Days and Still Accruing 8,235 1,586
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 5,432 15,013
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 26,986 308
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 13,311 7,609
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 45,729 22,930
Total Commercial [Member] | Total Commercial And Industrial [Member] | Commercial Real Estate - Owner Occupied [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,254,138 3,247,150
Residential Mortgages [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,950,154 4,016,917
Recorded Investment > 90 Days and Still Accruing 70 116
Residential Mortgages [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 52,593 42,302
Residential Mortgages [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 13,821 17,984
Residential Mortgages [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 27,965 34,656
Residential Mortgages [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 94,379 94,942
Residential Mortgages [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,855,775 3,921,975
Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 1,328,039 1,340,178
Recorded Investment > 90 Days and Still Accruing 2,016 3,245
Consumer [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 9,215 9,284
Consumer [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 3,699 4,675
Consumer [Member] | Greater Than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 9,042 9,839
Consumer [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans 21,956 23,798
Consumer [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total loans $ 1,306,083 $ 1,316,380
v3.26.1
Loans and Allowance for Credit Losses (Credit Quality Indicators by Segment and Portfolio Class) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Total Commercial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans $ 18,713,647 $ 18,601,345
Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 13,010,758 13,079,091
Total Commercial [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 17,640,746 17,451,198
Total Commercial [Member] | Pass [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 12,239,542 12,244,949
Total Commercial [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 550,702 614,792
Total Commercial [Member] | Pass-Watch [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 324,457 389,493
Total Commercial [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 120,192 148,383
Total Commercial [Member] | Special Mention [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 83,896 111,924
Total Commercial [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 402,007 386,972
Total Commercial [Member] | Substandard [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 362,863 332,725
Residential Mortgages [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,950,154 4,016,917
Residential Mortgages [Member] | Performing [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,898,892 3,969,931
Residential Mortgages [Member] | Nonperforming [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 51,262 46,986
Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,328,039 1,340,178
Consumer [Member] | Performing [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,316,307 1,329,475
Consumer [Member] | Nonperforming [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 11,732 10,703
Residential Mortgage and Consumer [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 5,278,193 5,357,095
Residential Mortgage and Consumer [Member] | Performing [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 5,215,199 5,299,406
Residential Mortgage and Consumer [Member] | Nonperforming [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 62,994 57,689
Commercial Non-Real Estate [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 9,710,891 9,809,011
Commercial Non-Real Estate [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 9,122,647 9,180,624
Commercial Non-Real Estate [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 227,071 266,120
Commercial Non-Real Estate [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 68,294 88,729
Commercial Non-Real Estate [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 292,879 273,538
Commercial Non-Real Estate [Member] | Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 9,710,891 9,809,011
Commercial Non-Real Estate [Member] | Total Commercial [Member] | Pass [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 9,122,647 9,180,624
Commercial Non-Real Estate [Member] | Total Commercial [Member] | Pass-Watch [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 227,071 266,120
Commercial Non-Real Estate [Member] | Total Commercial [Member] | Special Mention [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 68,294 88,729
Commercial Non-Real Estate [Member] | Total Commercial [Member] | Substandard [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 292,879 273,538
Commercial Real Estate - Owner Occupied [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,299,867 3,270,080
Commercial Real Estate - Owner Occupied [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,116,895 3,064,325
Commercial Real Estate - Owner Occupied [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 97,386 123,373
Commercial Real Estate - Owner Occupied [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 15,602 23,195
Commercial Real Estate - Owner Occupied [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 69,984 59,187
Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,299,867 3,270,080
Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member] | Pass [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 3,116,895 3,064,325
Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member] | Pass-Watch [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 97,386 123,373
Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member] | Special Mention [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 15,602 23,195
Commercial Real Estate - Owner Occupied [Member] | Total Commercial [Member] | Substandard [Member] | Total Commercial And Industrial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 69,984 59,187
Commercial Real Estate - Income Producing [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 4,382,665 4,283,168
Commercial Real Estate - Income Producing [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 4,127,601 4,035,415
Commercial Real Estate - Income Producing [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 210,336 189,994
Commercial Real Estate - Income Producing [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 8,240 8,251
Commercial Real Estate - Income Producing [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 36,488 49,508
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 4,382,665 4,283,168
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 4,127,601 4,035,415
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 210,336 189,994
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 8,240 8,251
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 36,488 49,508
Construction and Land Development [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,320,224 1,239,086
Construction and Land Development [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,273,603 1,170,834
Construction and Land Development [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 15,909 35,305
Construction and Land Development [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 28,056 28,208
Construction and Land Development [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 2,656 4,739
Construction and Land Development [Member] | Total Commercial [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,320,224 1,239,086
Construction and Land Development [Member] | Total Commercial [Member] | Pass [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 1,273,603 1,170,834
Construction and Land Development [Member] | Total Commercial [Member] | Pass-Watch [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 15,909 35,305
Construction and Land Development [Member] | Total Commercial [Member] | Special Mention [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans 28,056 28,208
Construction and Land Development [Member] | Total Commercial [Member] | Substandard [Member]    
Financing Receivable Recorded Investment [Line Items]    
Total loans $ 2,656 $ 4,739
v3.26.1
Loans and Allowance for Credit Losses (Disaggregation of Credit Quality Disclosures) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross $ 18,713,647 $ 18,601,345
Total Commercial [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 17,640,746 17,451,198
Total Commercial [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 550,702 614,792
Total Commercial [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 120,192 148,383
Total Commercial [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 402,007 386,972
Residential Mortgages [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 56,722 361,057
Term Loans, Amortized Cost Basis by Origination Year, 2025 324,936 134,228
Term Loans, Amortized Cost Basis by Origination Year, 2024 127,767 400,858
Term Loans, Amortized Cost Basis by Origination Year, 2023 391,969 1,050,128
Term Loans, Amortized Cost Basis by Origination Year, 2022 1,031,985 830,347
Term Loans, Amortized Cost Basis by Origination Year, Prior 2,013,827 1,237,442
Revolving Loans 2,948 2,857
Notes Receivable Gross 3,950,154 4,016,917
Residential Mortgages [Member] | Performing [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 56,722 360,686
Term Loans, Amortized Cost Basis by Origination Year, 2025 324,309 131,928
Term Loans, Amortized Cost Basis by Origination Year, 2024 125,804 390,276
Term Loans, Amortized Cost Basis by Origination Year, 2023 379,349 1,039,884
Term Loans, Amortized Cost Basis by Origination Year, 2022 1,018,788 824,012
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,990,972 1,220,288
Revolving Loans 2,948 2,857
Notes Receivable Gross 3,898,892 3,969,931
Residential Mortgages [Member] | Nonperforming [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026   371
Term Loans, Amortized Cost Basis by Origination Year, 2025 627 2,300
Term Loans, Amortized Cost Basis by Origination Year, 2024 1,963 10,582
Term Loans, Amortized Cost Basis by Origination Year, 2023 12,620 10,244
Term Loans, Amortized Cost Basis by Origination Year, 2022 13,197 6,335
Term Loans, Amortized Cost Basis by Origination Year, Prior 22,855 17,154
Notes Receivable Gross 51,262 46,986
Residential Mortgages [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2025   36
Term Loans, Amortized Cost Basis by Origination Year, 2024   502
Term Loans, Amortized Cost Basis by Origination Year, 2023 190 335
Term Loans, Amortized Cost Basis by Origination Year, Prior 60 49
Notes Receivable Gross 250 922
Consumer [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 28,083 50,563
Term Loans, Amortized Cost Basis by Origination Year, 2025 28,459 24,737
Term Loans, Amortized Cost Basis by Origination Year, 2024 22,377 23,312
Term Loans, Amortized Cost Basis by Origination Year, 2023 20,984 18,945
Term Loans, Amortized Cost Basis by Origination Year, 2022 16,799 9,555
Term Loans, Amortized Cost Basis by Origination Year, Prior 80,812 51,498
Revolving Loans 1,118,020 1,123,879
Revolving Loans Converted to Term Loans 12,505 37,689
Notes Receivable Gross 1,328,039 1,340,178
Consumer [Member] | Performing [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 28,083 50,512
Term Loans, Amortized Cost Basis by Origination Year, 2025 28,414 24,693
Term Loans, Amortized Cost Basis by Origination Year, 2024 22,110 22,963
Term Loans, Amortized Cost Basis by Origination Year, 2023 19,650 18,103
Term Loans, Amortized Cost Basis by Origination Year, 2022 15,463 8,928
Term Loans, Amortized Cost Basis by Origination Year, Prior 73,494 47,131
Revolving Loans 1,117,658 1,123,471
Revolving Loans Converted to Term Loans 11,435 33,674
Notes Receivable Gross 1,316,307 1,329,475
Consumer [Member] | Nonperforming [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 51
Term Loans, Amortized Cost Basis by Origination Year, 2025 45 44
Term Loans, Amortized Cost Basis by Origination Year, 2024 267 349
Term Loans, Amortized Cost Basis by Origination Year, 2023 1,334 842
Term Loans, Amortized Cost Basis by Origination Year, 2022 1,336 627
Term Loans, Amortized Cost Basis by Origination Year, Prior 7,318 4,367
Revolving Loans 362 408
Revolving Loans Converted to Term Loans 1,070 4,015
Notes Receivable Gross 11,732 10,703
Consumer [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 85
Term Loans, Amortized Cost Basis by Origination Year, 2025 59 952
Term Loans, Amortized Cost Basis by Origination Year, 2024 266 1,104
Term Loans, Amortized Cost Basis by Origination Year, 2023 272 1,277
Term Loans, Amortized Cost Basis by Origination Year, 2022 291 528
Term Loans, Amortized Cost Basis by Origination Year, Prior 135 695
Revolving Loans 2,926 9,228
Revolving Loans Converted to Term Loans 461 2,137
Notes Receivable Gross 4,410 16,006
Residential Mortgage and Consumer [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 5,278,193 5,357,095
Residential Mortgage and Consumer [Member] | Performing [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 5,215,199 5,299,406
Residential Mortgage and Consumer [Member] | Nonperforming [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 62,994 57,689
Commercial Non-Real Estate [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 493,201 2,071,467
Term Loans, Amortized Cost Basis by Origination Year, 2025 1,884,945 1,205,168
Term Loans, Amortized Cost Basis by Origination Year, 2024 1,064,431 838,368
Term Loans, Amortized Cost Basis by Origination Year, 2023 780,027 961,751
Term Loans, Amortized Cost Basis by Origination Year, 2022 868,826 559,830
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,380,074 920,199
Revolving Loans 3,124,746 3,129,584
Revolving Loans Converted to Term Loans 114,641 122,644
Notes Receivable Gross 9,710,891 9,809,011
Commercial Non-Real Estate [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 486,599 2,030,587
Term Loans, Amortized Cost Basis by Origination Year, 2025 1,850,898 1,164,266
Term Loans, Amortized Cost Basis by Origination Year, 2024 1,020,799 711,218
Term Loans, Amortized Cost Basis by Origination Year, 2023 664,963 812,902
Term Loans, Amortized Cost Basis by Origination Year, 2022 742,221 525,095
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,291,012 891,032
Revolving Loans 2,961,563 2,955,174
Revolving Loans Converted to Term Loans 104,592 90,350
Notes Receivable Gross 9,122,647 9,180,624
Commercial Non-Real Estate [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 253 24,737
Term Loans, Amortized Cost Basis by Origination Year, 2025 21,467 27,477
Term Loans, Amortized Cost Basis by Origination Year, 2024 16,094 39,683
Term Loans, Amortized Cost Basis by Origination Year, 2023 34,761 33,385
Term Loans, Amortized Cost Basis by Origination Year, 2022 30,484 12,896
Term Loans, Amortized Cost Basis by Origination Year, Prior 49,044 18,064
Revolving Loans 73,504 94,461
Revolving Loans Converted to Term Loans 1,464 15,417
Notes Receivable Gross 227,071 266,120
Commercial Non-Real Estate [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 2,405
Term Loans, Amortized Cost Basis by Origination Year, 2025 3,871 6,975
Term Loans, Amortized Cost Basis by Origination Year, 2024 12,835 6,239
Term Loans, Amortized Cost Basis by Origination Year, 2023 4,857 27,719
Term Loans, Amortized Cost Basis by Origination Year, 2022 25,181 10,564
Term Loans, Amortized Cost Basis by Origination Year, Prior 8,209 4,305
Revolving Loans 12,096 28,330
Revolving Loans Converted to Term Loans 1,245 2,192
Notes Receivable Gross 68,294 88,729
Commercial Non-Real Estate [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 6,349 13,738
Term Loans, Amortized Cost Basis by Origination Year, 2025 8,709 6,450
Term Loans, Amortized Cost Basis by Origination Year, 2024 14,703 81,228
Term Loans, Amortized Cost Basis by Origination Year, 2023 75,446 87,745
Term Loans, Amortized Cost Basis by Origination Year, 2022 70,940 11,275
Term Loans, Amortized Cost Basis by Origination Year, Prior 31,809 6,798
Revolving Loans 77,583 51,619
Revolving Loans Converted to Term Loans 7,340 14,685
Notes Receivable Gross 292,879 273,538
Commercial Non-Real Estate [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 4,798
Term Loans, Amortized Cost Basis by Origination Year, 2025 133 2,718
Term Loans, Amortized Cost Basis by Origination Year, 2024 283 15,397
Term Loans, Amortized Cost Basis by Origination Year, 2023 4,363 2,888
Term Loans, Amortized Cost Basis by Origination Year, 2022 387 74
Term Loans, Amortized Cost Basis by Origination Year, Prior 2,239 531
Revolving Loans 474 3,722
Revolving Loans Converted to Term Loans 627 15,436
Notes Receivable Gross 8,506 45,564
Commercial Real Estate - Owner Occupied [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 145,061 647,755
Term Loans, Amortized Cost Basis by Origination Year, 2025 651,571 410,820
Term Loans, Amortized Cost Basis by Origination Year, 2024 387,804 322,445
Term Loans, Amortized Cost Basis by Origination Year, 2023 359,864 536,684
Term Loans, Amortized Cost Basis by Origination Year, 2022 511,576 480,413
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,183,630 767,116
Revolving Loans 59,747 54,351
Revolving Loans Converted to Term Loans 614 50,496
Notes Receivable Gross 3,299,867 3,270,080
Commercial Real Estate - Owner Occupied [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 143,915 616,536
Term Loans, Amortized Cost Basis by Origination Year, 2025 618,064 401,399
Term Loans, Amortized Cost Basis by Origination Year, 2024 376,479 312,006
Term Loans, Amortized Cost Basis by Origination Year, 2023 350,264 461,247
Term Loans, Amortized Cost Basis by Origination Year, 2022 452,448 459,700
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,116,223 711,509
Revolving Loans 58,888 51,600
Revolving Loans Converted to Term Loans 614 50,328
Notes Receivable Gross 3,116,895 3,064,325
Commercial Real Estate - Owner Occupied [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 1,146 26,766
Term Loans, Amortized Cost Basis by Origination Year, 2025 26,994 6,397
Term Loans, Amortized Cost Basis by Origination Year, 2024 9,420 2,746
Term Loans, Amortized Cost Basis by Origination Year, 2023 1,881 43,060
Term Loans, Amortized Cost Basis by Origination Year, 2022 32,074 14,187
Term Loans, Amortized Cost Basis by Origination Year, Prior 25,256 27,591
Revolving Loans 615 2,506
Revolving Loans Converted to Term Loans 0 120
Notes Receivable Gross 97,386 123,373
Commercial Real Estate - Owner Occupied [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 2,371
Term Loans, Amortized Cost Basis by Origination Year, 2025 2,357 2,202
Term Loans, Amortized Cost Basis by Origination Year, 2024 1,099 1,008
Term Loans, Amortized Cost Basis by Origination Year, 2023 638 12,024
Term Loans, Amortized Cost Basis by Origination Year, 2022 6,250 5,054
Term Loans, Amortized Cost Basis by Origination Year, Prior 5,258 293
Revolving Loans   195
Revolving Loans Converted to Term Loans   48
Notes Receivable Gross 15,602 23,195
Commercial Real Estate - Owner Occupied [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 2,082
Term Loans, Amortized Cost Basis by Origination Year, 2025 4,156 822
Term Loans, Amortized Cost Basis by Origination Year, 2024 806 6,685
Term Loans, Amortized Cost Basis by Origination Year, 2023 7,081 20,353
Term Loans, Amortized Cost Basis by Origination Year, 2022 20,804 1,472
Term Loans, Amortized Cost Basis by Origination Year, Prior 36,893 27,723
Revolving Loans 244 50
Notes Receivable Gross 69,984 59,187
Commercial Real Estate - Owner Occupied [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2024 0 86
Term Loans, Amortized Cost Basis by Origination Year, 2022 8 2,741
Term Loans, Amortized Cost Basis by Origination Year, Prior 0 1,799
Notes Receivable Gross 8 4,626
Commercial Real Estate - Income Producing [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 255,347 1,140,627
Term Loans, Amortized Cost Basis by Origination Year, 2025 1,146,007 431,658
Term Loans, Amortized Cost Basis by Origination Year, 2024 477,340 532,132
Term Loans, Amortized Cost Basis by Origination Year, 2023 520,769 836,726
Term Loans, Amortized Cost Basis by Origination Year, 2022 779,372 564,483
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,136,008 710,562
Revolving Loans 67,772 65,490
Revolving Loans Converted to Term Loans 50 1,490
Notes Receivable Gross 4,382,665 4,283,168
Commercial Real Estate - Income Producing [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 255,347 1,110,044
Term Loans, Amortized Cost Basis by Origination Year, 2025 1,055,337 416,052
Term Loans, Amortized Cost Basis by Origination Year, 2024 477,210 519,955
Term Loans, Amortized Cost Basis by Origination Year, 2023 515,599 724,326
Term Loans, Amortized Cost Basis by Origination Year, 2022 674,686 549,335
Term Loans, Amortized Cost Basis by Origination Year, Prior 1,084,031 649,996
Revolving Loans 65,341 64,217
Revolving Loans Converted to Term Loans 50 1,490
Notes Receivable Gross 4,127,601 4,035,415
Commercial Real Estate - Income Producing [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 22,429
Term Loans, Amortized Cost Basis by Origination Year, 2025 81,629 15,606
Term Loans, Amortized Cost Basis by Origination Year, 2024 130 4,219
Term Loans, Amortized Cost Basis by Origination Year, 2023 952 101,959
Term Loans, Amortized Cost Basis by Origination Year, 2022 93,495 4,277
Term Loans, Amortized Cost Basis by Origination Year, Prior 33,077 40,381
Revolving Loans 1,053 1,123
Revolving Loans Converted to Term Loans 0  
Notes Receivable Gross 210,336 189,994
Commercial Real Estate - Income Producing [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 7,962
Term Loans, Amortized Cost Basis by Origination Year, 2025 7,955  
Term Loans, Amortized Cost Basis by Origination Year, 2024 0 289
Term Loans, Amortized Cost Basis by Origination Year, 2023 285  
Term Loans, Amortized Cost Basis by Origination Year, 2022 0  
Revolving Loans 0  
Notes Receivable Gross 8,240 8,251
Commercial Real Estate - Income Producing [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 192
Term Loans, Amortized Cost Basis by Origination Year, 2025 1,086  
Term Loans, Amortized Cost Basis by Origination Year, 2024 0 7,669
Term Loans, Amortized Cost Basis by Origination Year, 2023 3,933 10,441
Term Loans, Amortized Cost Basis by Origination Year, 2022 11,191 10,871
Term Loans, Amortized Cost Basis by Origination Year, Prior 18,900 20,185
Revolving Loans 1,378 150
Notes Receivable Gross 36,488 49,508
Commercial Real Estate - Income Producing [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2023 0 34
Notes Receivable Gross 0 34
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 4,382,665 4,283,168
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 4,127,601 4,035,415
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 210,336 189,994
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 8,240 8,251
Commercial Real Estate - Income Producing [Member] | Total Commercial [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 36,488 49,508
Construction and Land Development [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 71,790 379,266
Term Loans, Amortized Cost Basis by Origination Year, 2025 434,556 359,826
Term Loans, Amortized Cost Basis by Origination Year, 2024 328,870 188,837
Term Loans, Amortized Cost Basis by Origination Year, 2023 194,311 88,693
Term Loans, Amortized Cost Basis by Origination Year, 2022 76,508 75,459
Term Loans, Amortized Cost Basis by Origination Year, Prior 88,566 15,317
Revolving Loans 121,085 131,153
Revolving Loans Converted to Term Loans 4,538 535
Notes Receivable Gross 1,320,224 1,239,086
Construction and Land Development [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 71,790 349,811
Term Loans, Amortized Cost Basis by Origination Year, 2025 430,756 358,827
Term Loans, Amortized Cost Basis by Origination Year, 2024 328,254 185,672
Term Loans, Amortized Cost Basis by Origination Year, 2023 191,007 54,798
Term Loans, Amortized Cost Basis by Origination Year, 2022 45,730 75,084
Term Loans, Amortized Cost Basis by Origination Year, Prior 87,764 14,954
Revolving Loans 113,764 131,153
Revolving Loans Converted to Term Loans 4,538 535
Notes Receivable Gross 1,273,603 1,170,834
Construction and Land Development [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 29,323
Term Loans, Amortized Cost Basis by Origination Year, 2025 3,651 814
Term Loans, Amortized Cost Basis by Origination Year, 2024 436 1,500
Term Loans, Amortized Cost Basis by Origination Year, 2023 1,769 3,299
Term Loans, Amortized Cost Basis by Origination Year, 2022 2,498 128
Term Loans, Amortized Cost Basis by Origination Year, Prior 277 241
Revolving Loans 7,278  
Notes Receivable Gross 15,909 35,305
Construction and Land Development [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026 0 60
Term Loans, Amortized Cost Basis by Origination Year, 2023 0 28,036
Term Loans, Amortized Cost Basis by Origination Year, 2022 27,947 112
Term Loans, Amortized Cost Basis by Origination Year, Prior 109  
Revolving Loans Converted to Term Loans 0  
Notes Receivable Gross 28,056 28,208
Construction and Land Development [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2026   72
Term Loans, Amortized Cost Basis by Origination Year, 2025 149 185
Term Loans, Amortized Cost Basis by Origination Year, 2024 180 1,665
Term Loans, Amortized Cost Basis by Origination Year, 2023 1,535 2,560
Term Loans, Amortized Cost Basis by Origination Year, 2022 333 135
Term Loans, Amortized Cost Basis by Origination Year, Prior 416 122
Revolving Loans 43  
Revolving Loans Converted to Term Loans 0  
Notes Receivable Gross 2,656 4,739
Construction and Land Development [Member] | Gross Charge-offs [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Term Loans, Amortized Cost Basis by Origination Year, 2025 0  
Term Loans, Amortized Cost Basis by Origination Year, 2024 0  
Term Loans, Amortized Cost Basis by Origination Year, 2023 0 1,297
Term Loans, Amortized Cost Basis by Origination Year, 2022 218  
Term Loans, Amortized Cost Basis by Origination Year, Prior 1 17
Notes Receivable Gross 219 1,314
Construction and Land Development [Member] | Total Commercial [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 1,320,224 1,239,086
Construction and Land Development [Member] | Total Commercial [Member] | Pass [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 1,273,603 1,170,834
Construction and Land Development [Member] | Total Commercial [Member] | Pass-Watch [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 15,909 35,305
Construction and Land Development [Member] | Total Commercial [Member] | Special Mention [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross 28,056 28,208
Construction and Land Development [Member] | Total Commercial [Member] | Substandard [Member]    
Accounts Notes And Loans Receivable [Line Items]    
Notes Receivable Gross $ 2,656 $ 4,739
v3.26.1
Investments In Low Income Housing Tax Credit Entities (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]    
Investments in low income housing tax credit entities $ 37.5 $ 37.5
Other Assets [Member]    
Schedule of Equity Method Investments [Line Items]    
Investments in low income housing tax credit entities $ 20.9 $ 21.8
Low Income Housing Credit Investments [Member]    
Schedule of Equity Method Investments [Line Items]    
Tax credit earning period 10 years  
v3.26.1
Short Term Borrowings (Narrative) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Short-Term Debt [Line Items]    
Short-term borrowings $ 1,360,451,000 $ 1,017,292,000
Securities sold under agreements to repurchase 660,100,000 546,900,000
Federal funds purchased 300,000 70,400,000
FHLB Borrowings [Member]    
Short-Term Debt [Line Items]    
Short-term borrowings $ 700,000 $ 400,000,000
Short-term borrowings, weighted average interest rate 3.83%  
Short-term borrowings, maturity date Aug. 31, 2026 Jan. 02, 2026
Debt Instrument, Interest Rate, Stated Percentage   3.62%
v3.26.1
Derivatives (Fair Values of Derivative Financial Instruments) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount $ 8,315,062,000 $ 8,040,346,000  
Fair Values, Assets 44,299,000 46,120,000  
Fair Values, Assets [1] 98,257,000 105,612,000  
Less: netting adjustment [1],[2] (42,574,000) (42,486,000)  
Total derivative assets/liabilities [1] 55,683,000 63,126,000  
Fair Values, Liabilities 31,619,000 36,259,000  
Fair Values, Liabilities [1] 91,143,000 95,373,000  
Less: netting adjustment [1],[2]   (6,000)  
Other Liabilities [Member]      
Derivatives Fair Value [Line Items]      
Total derivative assets/liabilities [1] 91,143,000 95,367,000  
Derivatives Designated as Hedging Instruments [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 2,159,000,000 2,172,500,000  
Fair Values, Assets [1] 25,302,000 27,595,000  
Fair Values, Liabilities [1] 17,922,000 16,335,000  
Derivatives Not Designated as Hedging Instruments [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 6,156,062,000 5,867,846,000  
Fair Values, Assets [1] 72,955,000 78,017,000  
Fair Values, Liabilities [1] 73,221,000 79,038,000  
Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 5,492,800,000 5,308,711,000  
Fair Values, Assets [1] 69,195,000 73,725,000  
Fair Values, Liabilities [1] 69,323,000 73,829,000  
Derivatives Not Designated as Hedging Instruments [Member] | Risk Participation Agreements [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 431,843,000 373,117,000  
Fair Values, Assets [1] 22,000 10,000  
Fair Values, Liabilities [1] 26,000 10,000  
Derivatives Not Designated as Hedging Instruments [Member] | Interest Rate-Lock Commitments on Residential Mortgage Loans [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 48,849,000 23,192,000  
Fair Values, Assets [1] 714,000 497,000  
Fair Values, Liabilities [1] 23,000    
Derivatives Not Designated as Hedging Instruments [Member] | Forward Commitments to Sell Residential Mortgage Loans [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 19,418,000 9,081,000  
Fair Values, Assets [1] 46,000 2,000  
Fair Values, Liabilities [1] 161,000 108,000  
Derivatives Not Designated as Hedging Instruments [Member] | To Be Announced (TBA) Securities [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 38,750,000 30,000,000  
Fair Values, Assets [1] 372,000 4,000  
Fair Values, Liabilities [1] 28,000 62,000  
Derivatives Not Designated as Hedging Instruments [Member] | Foreign Exchange Forward Contracts [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 82,858,000 82,157,000  
Fair Values, Assets [1] 2,606,000 3,779,000  
Fair Values, Liabilities [1] 2,578,000 3,745,000  
Derivatives Not Designated as Hedging Instruments [Member] | Visa Class B derivative contract [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 41,544,000 41,588,000  
Fair Values, Liabilities [1] 1,082,000 1,284,000  
Cash Flow Hedge [Member] | Derivatives Designated as Hedging Instruments [Member] | Interest Rate Swaps - Variable Rate Loans [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 1,800,000,000 1,775,000,000  
Fair Values, Assets [1] 1,985,000 4,026,000  
Fair Values, Liabilities [1] 17,922,000 16,335,000  
Fair Value Hedging [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 265,000,000   $ 125,000,000
Fair Value Hedging [Member] | Derivatives Designated as Hedging Instruments [Member] | Interest Rate Swaps - Securities [Member]      
Derivatives Fair Value [Line Items]      
Notional or Contractual Amount 359,000,000 397,500,000  
Fair Values, Assets [1] $ 23,317,000 $ 23,569,000  
[1] Derivative assets and liabilities are reported in other assets and other liabilities, respectively, in the consolidated balance sheets.
[2] Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.
v3.26.1
Derivatives (Narrative) (Details)
 3 Months Ended
Mar. 31, 2026
USD ($)
SwapAgreements
Mar. 31, 2025
USD ($)
SwapAgreements
Dec. 31, 2025
USD ($)
Derivative [Line Items]      
Notional amount of derivatives $ 8,315,062,000   $ 8,040,346,000
Payments (made) received to terminate hedge instruments 1,657,000    
Fair value hedges resulting net earnings [1] 47,167,000 $ (4,517,000)  
Fair value liability 1,100,000   1,300,000
Credit risk-related contingent features, net liability position 13,200,000   13,200,000
Credit risk-related contingent features, posted collateral 13,600,000   13,000,000
Fair Value Hedging [Member]      
Derivative [Line Items]      
Notional amount of derivatives 265,000,000 $ 125,000,000  
Derivatives Designated as Hedging Instruments [Member]      
Derivative [Line Items]      
Notional amount of derivatives 2,159,000,000   2,172,500,000
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Swap Agreement 3, Expires 2026 [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 350,000,000    
Derivative maturity expiration year 2026    
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Swap Agreement 4, Expires 2027 [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 825,000,000    
Derivative maturity expiration year 2027    
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Swap Agreement 5, Expires 2028 [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 50,000,000    
Derivative maturity expiration year 2028    
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Swap Agreement 6, Expires 2029 [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 275,000,000    
Derivative maturity expiration year 2029    
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Swap Agreement 7, Expires 2030 [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 300,000,000    
Derivative maturity expiration year 2030    
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member]      
Derivative [Line Items]      
Payments (made) received to terminate hedge instruments $ 1,700,000    
Number of terminated interest rate swap agreements | SwapAgreements 1 0  
Interest Rate Swaps - Securities [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member]      
Derivative [Line Items]      
Notional amount of derivatives $ 359,000,000   $ 397,500,000
Fair value hedges resulting net earnings [1] 1,674,000 $ 3,910,000  
Derivative hedged item 335,600,000    
Basis adjustment associated with hedged items loss 23,400,000    
Interest Rate Swaps - Securities [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | Commercial Mortgage-Backed Securities [Member]      
Derivative [Line Items]      
Amortized cost basis of closed portfolio of pre-payable securities $ 387,800,000    
[1] Includes the effects of both active derivative instruments and the impact from realization of basis adjustments to hedged assets resulting from previously terminated hedges.
v3.26.1
Derivatives (Effects of Derivative Instruments on the Statements of Income) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ 47,167 $ (4,517)
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedge [Member] | Interest Rate Swaps - Variable Rate Loans [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ (5,980) $ (8,460)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and Fee Income, Loan and Lease, Held-in-Portfolio Interest and Fee Income, Loan and Lease, Held-in-Portfolio
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | Interest Rate Swaps - Securities [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ 1,674 $ 3,910
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest Income, Securities, Operating, Taxable Interest Income, Securities, Operating, Taxable
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member] | Securities - Sold [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ 50,381 $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Debt and Equity Securities, Gain (Loss) Debt and Equity Securities, Gain (Loss)
Derivatives Not Designated as Hedging Instruments [Member]    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ 960 $ (271)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest Income, Other Noninterest Income, Other
Derivatives Not Designated as Hedging Instruments [Member] | Residential mortgage banking    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative income reflected in income statement [1] $ 132 $ 304
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest Income Noninterest Income
[1] Includes the effects of both active derivative instruments and the impact from realization of basis adjustments to hedged assets resulting from previously terminated hedges.
v3.26.1
Derivatives (Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Gross Amounts Recognized, Derivative Assets $ 87,792 $ 89,930
Gross Amounts Offset in the Statement of Financial Condition, Derivative Assets (43,493) (43,810)
Net Amounts Presented in the Statement of Financial Condition, Derivative Assets 44,299 46,120
Gross Amounts Not Offset in the Statement of Financial Condition - Financial Instruments, Derivative Assets 31,619 36,259
Gross Amounts Not offset in the Statement of Financial Condition - Cash Collateral, Derivative Assets 32,073 32,890
Net Amounts Presented in the Statement of Financial Condition, Derivative Assets 44,753 42,751
Gross Amounts Recognized, Derivative Liabilities 31,619 36,264
Gross Amounts Offset in the Statement of Financial Condition, Derivative Liabilities 0 (5)
Net Amounts Presented in the Statement of Financial Condition, Derivative Liabilities 31,619 36,259
Gross Amounts Not Offset in the Statement of Financial Condition - Financial Instruments, Derivative Liabilities 31,619 36,259
Gross Amounts Not offset in the Statement of Financial Condition - Cash Collateral, Derivative Liabilities 0 0
Gross Amounts Not Offset in the Statement of Financial Condition - Net Amount, Derivatives Liabilities $ 0 $ 0
v3.26.1
Stockholders' Equity (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 10, 2025
Dec. 09, 2024
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Equity, Class of Treasury Stock [Line Items]          
Treasury stock, shares     11,800,000   10,700,000
Treasury stock, Cost basis     $ 591.1   $ 502.9
Shares repurchased     1,400,000 350,000  
Excise tax     $ 0.8    
2018 Stock Buyback Program [Member]          
Equity, Class of Treasury Stock [Line Items]          
Percentage of shares authorized to be repurchased 5.00% 5.00%      
Number of shares authorized for repurchase 4,100,000 4,300,000      
Stock repurchase expiration date Dec. 31, 2026 Dec. 31, 2026      
Shares repurchased     1.4 350,000  
2018 Stock Buyback Program [Member] | Common Stock [Member]          
Equity, Class of Treasury Stock [Line Items]          
Shares purchased average cost per share     $ 67.58 $ 59.28  
Restricted Stock [Member]          
Equity, Class of Treasury Stock [Line Items]          
Number of shares nonvested     7,280   8,520
v3.26.1
Stockholders' Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance $ 4,460,117 $ 4,127,636
Reclassification of net loss realized and included in earnings 104,592 9,415
Amortization of unrealized net loss on securities transferred to HTM 413 405
Income tax (expense) benefit (14,911) (28,212)
Balance 4,419,592 4,278,672
Accumulated Other Comprehensive Loss Available for Sale Securities [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance (293,835) (473,679)
Net change in unrealized gain (loss) (30,250) 102,125
Reclassification of net loss realized and included in earnings 98,595  
Income tax (expense) benefit (15,404) (24,014)
Balance (240,894) (395,568)
Held to Maturity Securities Transferred from AFS [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance (6,858) (8,071)
Amortization of unrealized net loss on securities transferred to HTM 413 405
Income tax (expense) benefit (93) (109)
Balance (6,538) (7,775)
Employee Benefit Plans [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance (61,448) (77,235)
Reclassification of net loss realized and included in earnings 17 955
Valuation adjustments to employee benefit plans (496)  
Income tax (expense) benefit 108 (384)
Balance (61,819) (76,664)
Accumulated Other Comprehensive Loss [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance (376,251) (606,092)
Net change in unrealized gain (loss) (38,474) 109,512
Reclassification of net loss realized and included in earnings 104,592 9,415
Valuation adjustments to employee benefit plans (496)  
Amortization of unrealized net loss on securities transferred to HTM 413 405
Income tax (expense) benefit (14,911) (28,212)
Balance (325,127) (514,972)
Gains and Losses on Cash Flow Hedges [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance (14,795) (47,136)
Net change in unrealized gain (loss) (8,098) 7,560
Reclassification of net loss realized and included in earnings 5,980 8,460
Income tax (expense) benefit 478 (3,705)
Balance (16,435) (34,821)
Equity Method Investment [Member]    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Balance 685 29
Net change in unrealized gain (loss) (126) (173)
Balance $ 559 $ (144)
v3.26.1
Stockholders' Equity (Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Employee Benefit Plans [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amortization of defined benefit pension and post-retirement items $ (496)  
Reclassification out of Accumulated Other Comprehensive Income [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Total reclassifications, net of tax [1] (81,336) $ (7,371)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available for Sale Securities [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Loss on sale of AFS securities [1] (98,595) 0
Tax effect [1] 22,222 0
Net of tax [1] (76,373)  
Reclassification out of Accumulated Other Comprehensive Income [Member] | Held to Maturity Securities Transferred from AFS [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amortization of unrealized net loss on securities transferred to HTM [1] (413) (405)
Tax effect [1] 93 109
Net of tax [1] (320) (296)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Employee Benefit Plans [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Amortization of defined benefit pension and post-retirement items [1],[2] (17) (955)
Tax effect [1] 4 384
Net of tax [1] (13) (571)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gains and Losses on Cash Flow Hedges [Member]    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Reclassification of unrealized loss on cash flow hedges [1] (4,470) (6,950)
Tax effect [1] 1,009 1,607
Net of tax [1] (3,461) (5,343)
Amortization of loss on terminated cash flow hedges [1] $ (1,510) $ (1,510)
OCI, Cash Flow Hedge, Reclassification for Discontinuance, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and Dividend Income, Operating Interest and Dividend Income, Operating
Tax effect [1] $ 341 $ 349
Net of tax [1] $ (1,169) $ (1,161)
[1] Amounts in parentheses indicate reduction in net income.
[2] These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with other noninterest
expense (see Note 12 – Retirement Plans for additional details).
v3.26.1
Other Noninterest Income (Components of Other Noninterest Income) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other Income, Nonoperating [Abstract]    
Income from bank-owned life insurance $ 5,267 $ 4,873
Credit related fees 2,775 2,840
Income (loss) from customer and other derivatives 960 (271)
Net gains on sales of premises, equipment and other assets 2,046 1,857
Other miscellaneous 6,326 7,754
Total other noninterest income $ 17,374 $ 17,053
v3.26.1
Other Noninterest Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other Expense, Nonoperating [Abstract]    
Corporate value and franchise taxes and other non-income taxes $ 4,416 $ 4,303
Entertainment and contributions 4,218 3,387
Advertising 4,186 3,015
Telecommunications and postage 2,642 2,441
Travel expense 1,635 1,232
Tax credit investment amortization 903 1,068
Printing and supplies 985 902
Net other retirement expense (5,311) (3,884)
Other miscellaneous 8,267 8,173
Total other noninterest expense $ 21,941 $ 20,637
v3.26.1
Earnings Per Common Share (Computation of Earnings Per Common Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings Per Share [Abstract]    
Net income to common shareholders $ 47,422 $ 119,504
Net income allocated to participating securities - basic and diluted 159 521
Net income allocated to common shareholders - basic 47,263 118,983
Net income allocated to common shareholders - diluted $ 47,263 $ 118,983
Weighted-average common shares - basic 81,674 86,092
Dilutive potential common shares 587 370
Weighted-average common shares - diluted 82,261 86,462
Earnings per common share: Basic $ 0.58 $ 1.38
Earnings per common share: Diluted $ 0.57 $ 1.38
v3.26.1
Earnings Per Common Share (Narrative) (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings Per Share [Abstract]    
Weighted-average anti-dilutive potential common shares 7,201 3,188
v3.26.1
Segment Reporting (Narrative) (Details)
 3 Months Ended
Mar. 31, 2026
USD ($)
Segment Reporting [Abstract]  
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] Capital Committee [Member]
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description Reportable segments are identified in these standards as those revenue-producing components for which discrete financial information is produced internally and which are subject to evaluation by our chief operating decision maker in deciding how to allocate resources to segments.
Other segment items $ 0
v3.26.1
Retirement Plans (Narrative) (Details) - Pension Benefits [Member] - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Defined Benefit Plan Disclosure [Line Items]    
Employer contributions $ 0 $ 0
Expected contribution in 2025 $ 0  
v3.26.1
Retirement Plans (Components of Net Periodic Benefits Cost) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Pension Benefits [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Service cost $ 1,525 $ 1,600
Interest cost 6,593 6,275
Expected return on plan assets (12,075) (11,268)
Amortization of net (gain) or loss and prior service costs 202 1,140
Net periodic benefit cost (3,755) (2,253)
Other Post-Retirement Benefits [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Service cost 9 9
Interest cost 154 154
Amortization of net (gain) or loss and prior service costs (185) (185)
Net periodic benefit cost $ (22) $ (22)
v3.26.1
Share-Based Payment Arrangements (Narrative) (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Entity
$ / shares
shares
Restricted and Performance Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Total unrecognized compensation expense | $ $ 73.3
Weighted-average period 3 years 4 months 24 days
Total fair value of shares vested | $ $ 19.0
Shares granted 500,393
Grant date fair value per share | $ / shares $ 67.70
Performance Shares [Member] | Executive Management [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Service period 3 years
Performance Shares [Member] | Total Shareholder Return [Member] | Executive Management [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares granted 25,278
Grant date fair value per share | $ / shares $ 70.83
Vesting performance period 3 years
Number of peer group regional banks | Entity 49
Performance Shares [Member] | Total Shareholder Return [Member] | Executive Management [Member] | Tranche One [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Percentage of maximum number of shares vested 200.00%
Performance Shares [Member] | Average Earnings Per Share [Member] | Executive Management [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares granted 24,535
Performance Shares [Member] | Average tangible common equity Earnings Per Share [Member] | Executive Management [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares granted 24,535
Grant date fair value per share | $ / shares $ 60.08
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares granted 390,415
v3.26.1
Share-Based Payment Arrangements (Summary of Nonvested Restricted and Performance Shares) (Details) - Restricted and Performance Shares [Member]
 3 Months Ended
Mar. 31, 2026
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of Shares, Nonvested at Beginning | shares 1,400,195
Number of Shares, Granted | shares 500,393
Number of Shares, Vested | shares (408,533)
Number of Shares, Cancelled/Forfeited | shares (38,513)
Number of Shares, Nonvested at Ending | shares 1,453,542
Weighted Average Grant Date Fair Value, Nonvested at Beginning | $ / shares $ 50.51
Weighted Average Grant Date Fair Value, Granted | $ / shares 67.70
Weighted Average Grant Date Fair Value, Vested | $ / shares 50.47
Weighted Average Grant Date Fair Value, Cancelled/Forfeited | $ / shares 48.91
Weighted Average Grant Date Fair Value, Nonvested at Ending | $ / shares $ 56.48
v3.26.1
Commitments and Contingencies (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Other Commitments [Line Items]        
Reserve for unfunded lending commitments $ 32,379 $ 33,928 $ 25,031 $ 24,053
Federal Deposit Insurance Corporation (FDIC) Special Assessment [Member]        
Other Commitments [Line Items]        
Special assessment expense $ 27,600      
v3.26.1
Commitments and Contingencies (Off-Balance Sheet Financial Instruments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Commitments to Extend Credit [Member]    
Loss Contingencies [Line Items]    
Contract amounts $ 9,714,297 $ 9,650,197
Letters of Credit [Member]    
Loss Contingencies [Line Items]    
Contract amounts $ 421,096 $ 409,010
v3.26.1
Fair Value Measurements (Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets $ 44,299 $ 46,120
Derivative liabilities 31,619 36,259
Total recurring fair value measurements - liabilities 1,100 1,300
Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 5,976,386 5,961,917
Mortgage loans held for sale 36,477 33,158
Derivative assets [1] 55,683 63,126
Total fair value measurements 6,068,546 6,058,201
Derivative liabilities [1] 91,143 95,367
Total recurring fair value measurements - liabilities 91,143 95,367
Recurring [Member] | U.S. Treasury And Government Agency Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 282,467 269,332
Recurring [Member] | Municipal Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 180,143 191,328
Recurring [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 16,237 16,357
Recurring [Member] | Residential Mortgage-Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 2,333,405 2,375,629
Recurring [Member] | Commercial Mortgage-Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 3,140,320 3,083,325
Recurring [Member] | Collateralized Mortgage Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 23,814 25,946
Recurring [Member] | Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 5,976,386 5,961,917
Mortgage loans held for sale 36,477 33,158
Derivative assets [1] 55,683 63,126
Total fair value measurements 6,068,546 6,058,201
Derivative liabilities [1] 90,061 94,083
Total recurring fair value measurements - liabilities 90,061 94,083
Recurring [Member] | Level 2 [Member] | U.S. Treasury And Government Agency Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 282,467 269,332
Recurring [Member] | Level 2 [Member] | Municipal Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 180,143 191,328
Recurring [Member] | Level 2 [Member] | Corporate Debt Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 16,237 16,357
Recurring [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 2,333,405 2,375,629
Recurring [Member] | Level 2 [Member] | Commercial Mortgage-Backed Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 3,140,320 3,083,325
Recurring [Member] | Level 2 [Member] | Collateralized Mortgage Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale debt securities 23,814 25,946
Recurring [Member] | Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liabilities [1] 1,082 1,284
Total recurring fair value measurements - liabilities $ 1,082 $ 1,284
[1] For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.
v3.26.1
Fair Value Measurements (Narrative) (Details) - Recurring [Member]
 3 Months Ended
Mar. 31, 2026
shares
Visa Inc [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Number of shares of Visa Class B common stock 192,163
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Conversion Price [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Values Utilized 1.55
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input Visa Class B Common Stock [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Time until resolution 18 months
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Conversion Price [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Values Utilized 1.54
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input Visa Class B Common Stock [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Time until resolution 30 months
Investment Securities [Member] | Minimum [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Targeted duration 2 years
Investment Securities [Member] | Maximum [Member]  
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]  
Targeted duration 5 years 6 months
v3.26.1
Fair Value Measurements (Overview of the Valuation Techniques and Significant Unobservable Inputs) (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Fair Values, Liabilities $ 31,619 $ 36,259
Recurring [Member]    
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Fair Values, Liabilities [1] 91,143 95,367
Recurring [Member] | Level 3 [Member]    
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Fair Values, Liabilities [1] $ 1,082 $ 1,284
Recurring [Member] | Level 3 [Member] | Measurement Input, Conversion Rate [Member] | Minimum [Member]    
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Values Utilized 1.55  
Recurring [Member] | Level 3 [Member] | Measurement Input, Conversion Rate [Member] | Maximum [Member]    
Fair Value of Financial Instruments, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Values Utilized 1.54  
[1] For further disaggregation of derivative assets and liabilities, see Note 6 - Derivatives.
v3.26.1
Fair Value Measurements (Financial Assets Measured at Fair Value on Nonrecurring Basis) (Details) - Fair Value, Nonrecurring [Member] - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent individually evaluated loans $ 26,109 $ 33,762
Other real estate owned and foreclosed assets 11,257 14,788
Total fair value measurements 37,366 48,550
Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Collateral-dependent individually evaluated loans 26,109 33,762
Other real estate owned and foreclosed assets 11,257 14,788
Total fair value measurements $ 37,366 $ 48,550
v3.26.1
Fair Value Measurements (Estimated Fair Values of Financial Instruments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Held to maturity securities $ 2,051,628 $ 2,132,882
Loans held for sale 36,477 33,158
Derivative financial instruments, Financial assets 44,299 46,120
Derivative financial instruments, Financial liabilities 31,619 36,259
Total Fair Value [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash, interest-bearing bank deposits, and federal funds sold 779,230 695,261
Available for sale securities 5,976,386 5,961,917
Held to maturity securities 1,926,729 2,011,026
Loans, net 23,577,647 23,588,681
Loans held for sale 63,090 33,158
Derivative financial instruments, Financial assets 55,683 63,126
Deposits 29,072,945 29,274,190
Federal funds purchased 325 70,400
Securities sold under agreements to repurchase 660,126 546,892
Short-term FHLB Borrowings 700,215 400,000
Long-term debt 155,330 162,257
Derivative financial instruments, Financial liabilities 91,143 95,367
Total Fair Value [Member] | Level 1 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash, interest-bearing bank deposits, and federal funds sold 779,018 695,032
Total Fair Value [Member] | Level 2 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash, interest-bearing bank deposits, and federal funds sold 212 229
Available for sale securities 5,976,386 5,961,917
Held to maturity securities 1,926,729 2,011,026
Loans held for sale 63,090 33,158
Derivative financial instruments, Financial assets 55,683 63,126
Federal funds purchased 325 70,400
Securities sold under agreements to repurchase 660,126 546,892
Short-term FHLB Borrowings 700,215 400,000
Long-term debt 155,330 162,257
Derivative financial instruments, Financial liabilities 90,061 94,083
Total Fair Value [Member] | Level 3 [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Loans, net 23,577,647 23,588,681
Deposits 29,072,945 29,274,190
Derivative financial instruments, Financial liabilities 1,082 1,284
Carrying Amount [Member]    
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]    
Cash, interest-bearing bank deposits, and federal funds sold 779,230 695,261
Available for sale securities 5,976,386 5,961,917
Held to maturity securities 2,051,628 2,132,882
Loans, net 23,680,524 23,650,709
Loans held for sale 63,090 33,158
Derivative financial instruments, Financial assets 55,683 63,126
Deposits 29,082,134 29,279,774
Federal funds purchased 325 70,400
Securities sold under agreements to repurchase 660,126 546,892
Short-term FHLB Borrowings 700,000 400,000
Long-term debt 193,785 199,407
Derivative financial instruments, Financial liabilities $ 91,143 $ 95,367