EAST WEST BANCORP INC, 10-K filed on 2/27/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 000-24939    
Entity Registrant Name EAST WEST BANCORP, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 95-4703316    
Entity Address, Address Line One 135 North Los Robles Ave.    
Entity Address, Address Line Two 7th Floor    
Entity Address, City or Town Pasadena    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 91101    
City Area Code 626    
Local Phone Number 768-6000    
Title of 12(b) Security Common stock, par value $0.001 per share    
Trading Symbol EWBC    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 13,774,364,511
Entity Common Stock, Shares Outstanding   137,622,675  
Documents Incorporated by Reference
Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A relating to its 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
    
Entity Central Index Key 0001069157    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Los Angeles, CA
Auditor Firm ID 185
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 656,125 $ 360,734
Interest-bearing cash with banks 3,532,014 4,890,008
Cash and cash equivalents 4,188,139 5,250,742
Interest-bearing deposits with banks 16,189 48,198
Securities purchased under resale agreements (“resale agreements”) 425,000 425,000
Debt securities:    
Available-for-sale (“AFS”), at fair value (amortized cost of $13,619,781 and $11,505,775) 13,212,220 10,846,811
Held-to-maturity (“HTM”), at amortized cost (fair value of $2,479,746 and $2,387,754) 2,870,058 2,917,413
Loans held-for-sale 20,976 0
Loans held-for-investment (net of allowance for loan and lease losses (“ALLL”) of $809,773 and $702,052) 56,068,399 53,024,585
Affordable housing partnership, tax credit and CRA investments, net 969,492 926,640
Premises and equipment (net of accumulated depreciation of $175,297 and $166,154) 82,310 82,233
Operating lease right-of-use assets 125,407 81,967
Goodwill 465,697 465,697
Other assets 1,991,110 1,907,189
TOTAL 80,434,997 75,976,475
Deposits:    
Noninterest-bearing 16,697,099 15,450,428
Interest-bearing 50,385,602 47,724,595
Total deposits 67,082,701 63,175,023
Federal Home Loan Bank (“FHLB”) advances 3,000,000 3,500,000
Long-term debt and finance lease liabilities 35,645 35,974
Operating lease liabilities 138,206 89,263
Accrued expenses and other liabilities 1,279,243 1,453,161
Total liabilities 71,535,795 68,253,421
COMMITMENTS AND CONTINGENCIES (Note 12)
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value, 200,000,000 shares authorized; 170,487,574 and 169,925,379 shares issued 170 170
Additional paid-in capital 2,111,316 2,030,712
Retained earnings 8,301,522 7,311,542
Treasury stock, at cost 32,908,712 and 31,488,080 shares (1,168,196) (1,034,110)
Accumulated other comprehensive loss (“AOCI”), net of tax (345,610) (585,260)
Total stockholders’ equity 8,899,202 7,723,054
TOTAL $ 80,434,997 $ 75,976,475
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
AFS debt securities, amortized cost $ 13,619,781 $ 11,505,775
HTM debt securities, fair value 2,479,746 2,387,754
Allowance for loan and lease losses 809,773 702,052
Premises and equipment, accumulated depreciation $ 175,297 $ 166,154
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 200,000,000 200,000,000
Common stock, shares issued (in shares) 170,487,574 169,925,379
Treasury stock, shares (in shares) 32,908,712 31,488,080
v3.25.4
CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 3,494,661 $ 3,490,979 $ 3,172,746
Debt securities 621,937 449,065 276,190
Resale agreements 6,475 11,254 20,164
Restricted equity securities 11,242 10,104 4,062
Interest-bearing cash and deposits with banks 159,081 231,794 220,643
Total interest and dividend income 4,293,396 4,193,196 3,693,805
INTEREST EXPENSE      
Deposits 1,594,529 1,720,174 1,205,550
Federal funds purchased and other short-term borrowings 22 42,163 157,002
FHLB advances 141,472 147,269 6,430
Securities sold under repurchase agreements (“repurchase agreements”) 2,082 197 1,497
Long-term debt and finance lease liabilities 2,662 4,677 11,072
Total interest expense 1,740,767 1,914,480 1,381,551
Net interest income before provision for credit losses 2,552,629 2,278,716 2,312,254
Provision for credit losses 160,000 174,000 125,000
Net interest income after provision for credit losses 2,392,629 2,104,716 2,187,254
NONINTEREST INCOME      
Commercial and consumer deposit-related fees 111,844 103,880 93,811
Lending and loan servicing fees 107,988 98,455 83,876
Foreign exchange income 58,905 54,605 48,276
Wealth management fees 50,000 38,627 26,994
Customer derivative income, net of mark-to-market adjustments 16,856 16,401 20,200
Net gains (losses) on AFS debt securities 963 2,069 (6,862)
Other investment income 10,868 5,611 9,348
Other income 21,803 15,570 17,469
Total noninterest income 379,227 335,218 293,112
NONINTEREST EXPENSE      
Compensation and employee benefits 618,753 550,734 508,538
Occupancy and equipment expense 66,129 64,399 64,528
Deposit account expense 35,218 47,390 43,143
Computer and software related expenses 54,737 47,271 44,475
Deposit insurance premiums and regulatory assessments 31,725 45,736 103,308
Other operating expense 165,039 148,301 136,305
Amortization of tax credit and CRA investments 74,795 54,242 120,299
Total noninterest expense 1,046,396 958,073 1,020,596
INCOME BEFORE INCOME TAXES 1,725,460 1,481,861 1,459,770
Income tax expense 400,272 316,275 298,609
NET INCOME $ 1,325,188 $ 1,165,586 $ 1,161,161
EARNINGS PER SHARE (“EPS”)      
BASIC (in dollars per share) $ 9.58 $ 8.39 $ 8.23
DILUTED (in dollars per share) $ 9.52 $ 8.33 $ 8.18
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 138,342 138,898 141,164
DILUTED (in shares) 139,130 139,958 141,902
v3.25.4
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Other comprehensive income, net of tax:      
Net changes in unrealized gains on AFS debt securities 178,328 48,845 81,763
Amortization of unrealized losses on debt securities transferred from AFS to HTM 10,592 10,884 11,171
Net changes in unrealized gains (losses) on cash flow hedges 48,996 (23,411) 52,155
Foreign currency translation adjustments 1,734 (982) (56)
Other comprehensive income 239,650 35,336 145,033
COMPREHENSIVE INCOME $ 1,564,838 $ 1,200,922 $ 1,306,194
v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Various Stock Compensation Plans And Agreements
Stock Repurchase Plan
Common Stock
Common Stock
Various Stock Compensation Plans And Agreements
Common Stock
Stock Repurchase Plan
Common Stock and Additional Paid-in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Treasury Stock
Treasury Stock
Various Stock Compensation Plans And Agreements
Treasury Stock
Stock Repurchase Plan
AOCI, Net of Tax
Beginning balance (in shares) at Dec. 31, 2022         140,947,846                  
Beginning balance at Dec. 31, 2022 $ 5,984,612 $ (4,262) [1]           $ 1,936,557 $ 5,582,546 $ (4,262) [1] $ (768,862)     $ (765,629)
Increase (Decrease) in Stockholders' Equity                            
Net income 1,161,161               1,161,161          
Other comprehensive income 145,033                         145,033
Issuance of common stock pursuant to various stock compensation plans and agreements (in shares)         913,185                  
Issuance of common stock pursuant to various stock compensation plans and agreements 44,430             44,430            
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements (in shares)           (327,573) (1,506,091)              
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements     $ (23,751) $ (82,174)               $ (23,751) $ (82,174)  
Cash dividends on common stock (274,215)               (274,215)          
Ending balance (in shares) at Dec. 31, 2023         140,027,367                  
Ending balance at Dec. 31, 2023 6,950,834 $ (9,482) [2]           1,980,987 6,465,230 $ (9,482) [2] (874,787)     (620,596)
Increase (Decrease) in Stockholders' Equity                            
Net income 1,165,586               1,165,586          
Other comprehensive income 35,336                         35,336
Issuance of common stock pursuant to various stock compensation plans and agreements (in shares)         553,149                  
Issuance of common stock pursuant to various stock compensation plans and agreements 49,895             49,895            
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements (in shares)           (199,871) (1,943,346)              
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements (144,000)   (14,877) (144,446)               (14,877) (144,446)  
Cash dividends on common stock (309,792)               (309,792)          
Ending balance (in shares) at Dec. 31, 2024         138,437,299                  
Ending balance at Dec. 31, 2024 7,723,054             2,030,882 7,311,542   (1,034,110)     (585,260)
Increase (Decrease) in Stockholders' Equity                            
Net income 1,325,188               1,325,188          
Other comprehensive income 239,650                         239,650
Issuance of common stock pursuant to various stock compensation plans and agreements (in shares)         562,195                  
Issuance of common stock pursuant to various stock compensation plans and agreements 80,604             80,604            
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements (in shares)           (208,108) (1,212,524)              
Repurchase of common stock pursuant to the stock repurchase program/various stock compensation plans and agreements (115,000)   $ (19,156) $ (114,930)               $ (19,156) $ (114,930)  
Cash dividends on common stock (335,208)               (335,208)          
Ending balance (in shares) at Dec. 31, 2025         137,578,862                  
Ending balance at Dec. 31, 2025 $ 8,899,202             $ 2,111,486 $ 8,301,522   $ (1,168,196)     $ (345,610)
[1] Represents the change in the Company’s ALLL as a result of the adoption of Accounting Standards Update (“ASU”) 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and the Vintage Disclosures on January 1, 2023.
[2] Represents the impact of the adoption of ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method on January 1, 2024.
v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]        
Dividends declared per common share (in dollars per share) $ 2.40 $ 2.20 $ 1.92  
Accounting Standards Update [Extensible List]     Accounting Standards Update 2023-02 [Member] Accounting Standards Update 2022-02
v3.25.4
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 160,000 174,000 125,000
Depreciation, amortization and accretion, net 213,164 212,338 174,183
Stock compensation costs 76,189 45,535 39,867
Deferred income tax benefit (7,775) (14,283) (49,139)
Net (gains) losses on AFS debt securities (963) (2,069) 6,862
Net losses (gains) on other real estate owned (“OREO”) write-downs and sales 10,275 7,275 (3,451)
Loans held-for-sale:      
Originations and purchases (4,105) (2,881) (116)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 4,102 3,020 0
Net change in accrued interest receivable and other assets (97,306) 63,743 (146,270)
Net change in accrued expenses and other liabilities (167,970) (242,443) 105,304
Other operating activities, net (9,099) 1,846 11,508
Total adjustments 176,512 246,081 263,748
Net cash provided by operating activities 1,501,700 1,411,667 1,424,909
Net (increase) decrease in:      
Affordable housing partnership, tax credit and CRA investments (351,786) (378,305) (228,550)
Interest-bearing deposits with banks 33,115 (38,352) 128,523
Assets purchased under resale agreements:      
Proceeds from paydowns and maturities 0 360,000 219,917
Purchases 0 0 (212,725)
AFS debt securities:      
Proceeds from sales 952,413 1,428,829 3,138
Proceeds from repayments, maturities and redemptions 3,851,138 1,547,058 1,470,819
Purchases (6,939,256) (7,599,454) (1,549,846)
Loans held-for-investment:      
Proceeds from sales of loans originally classified as held-for-investment 310,408 715,088 711,862
Purchases (963,327) (1,000,637) (600,930)
Other changes in loans held-for-investment, net (2,486,715) (1,341,549) (4,166,572)
Proceeds from sales of OREO and other foreclosed assets 36,122 33,055 3,721
Proceeds from repayments and redemptions of HTM debt securities 62,832 54,249 61,744
Redemption (purchases) of FHLB stock, net 14,024 (84,079) 0
Other investing activities, net 4,527 8,894 (88,262)
Net cash used in investing activities (5,476,505) (6,295,203) (4,247,161)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net change in deposits 3,863,717 7,108,377 144,468
Net change in short-term borrowings 2 (4,500,000) 4,500,000
FHLB advances:      
Proceeds 2,500,000 4,000,400 6,000,000
Repayments (3,000,000) (500,400) (6,000,000)
Repurchase agreements:      
Repayment 0 0 (300,000)
Extinguishment cost 0 0 (3,872)
Repayment of lease liabilities and junior subordinated debt (836) (117,437) (871)
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 3,212 3,023 3,208
Stock tendered for payment of withholding taxes (19,239) (14,877) (23,751)
Repurchase of common stock pursuant to the stock repurchase program (115,590) (143,082) (82,174)
Cash dividends paid (334,041) (308,478) (274,554)
Net cash provided by financing activities 2,897,225 5,527,526 3,962,454
Effect of exchange rate changes on cash and cash equivalents 14,977 (8,232) (7,002)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,062,603) 635,758 1,133,200
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 5,250,742 4,614,984 3,481,784
CASH AND CASH EQUIVALENTS, END OF YEAR 4,188,139 5,250,742 4,614,984
Cash paid during the year for:      
Interest 1,742,199 2,057,967 1,213,319
Income taxes, net 278,182 246,945 291,685
Noncash investing and financing activities:      
Loans transferred from held-for-investment to held-for-sale 331,227 659,322 739,379
Loans transferred to OREO or other foreclosed assets $ 33,513 $ 67,379 $ 11,141
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Organization

East West Bancorp, Inc. (referred to herein on an unconsolidated basis as “East West” and on a consolidated basis as the “Company”) is a registered bank holding company that offers a full range of banking services to individuals and businesses through its subsidiary bank, East West Bank and its subsidiaries (“East West Bank” or the “Bank”). The Bank is the Company’s principal asset. As of December 31, 2025, the Company operated in over 110 locations in the United States (“U.S.”) and Asia. In the U.S., the Bank’s corporate headquarters and main administrative offices are located in California, and its branches are located in California, Texas, New York, Washington, Georgia, Massachusetts and Nevada. In Asia, East West’s presence includes branches in China and Hong Kong, and representative offices in China and Singapore. The Bank has a banking subsidiary based in China — East West Bank (China) Limited (“EWCN”).

Significant Accounting Policies

Basis of Presentation — The accounting and reporting policies of the Company conform with the U.S. Generally Accepted Accounting Principles (“GAAP”), applicable guidelines prescribed by regulatory authorities and common practices in the banking industry. The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Financial Statements, income and expenses during the reporting period, and the related disclosures. Actual results could differ materially from those estimates. Certain items on the Consolidated Financial Statements and notes for the prior years have been reclassified to conform to the 2025 presentation.

Principles of Consolidation — The Consolidated Financial Statements in this Form 10-K include the accounts of East West and its subsidiaries that are majority owned and in which the Company has a controlling financial interest, and variable interest entities (“VIE”) in which the Company has determined to be the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a VIE.

For a VIE, a controlling financial interest is where the Company has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE. For an entity that does not meet the definition of a VIE, the entity is determined to be a voting interest entity. The Company consolidates a voting interest entity if it can exert control over the financial and operating policies of an investee, which can occur if the Company has a more than 50% voting interest in the entity. For unconsolidated entities, the Company uses the proportional amortization method (“PAM”), equity, cost or measurement alternative method based on the Company’s voting or economic interest.

East West has one wholly-owned subsidiary that is a statutory business trust (the “Trust”). In accordance with the guidance in Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 810, Consolidation, the Trust has not been consolidated by the Company.

Cash and Cash Equivalents — Cash and cash equivalents include cash on hand, cash items in transit, cash due from the Federal Reserve Bank (“FRB”) of San Francisco and other financial institutions, money market funds, and federal funds sold with original maturities up to three months.

Interest-Bearing Deposits with Banks — Interest-bearing deposits with banks include cash placed with other banks with original maturities greater than three months and less than one year.
Assets Purchased under Resale Agreements and Securities Sold under Repurchase Agreements — Resale agreements are recorded as receivables based on the values at which the securities or loans are acquired. Repurchase agreements are accounted for as collateralized financing transactions and recorded as liabilities based on the values at which the securities are sold. The Company monitors the values of the underlying assets collateralizing the resale and repurchase agreements, including accrued interest, and obtains or posts additional collateral in order to maintain the appropriate collateral requirements for the transactions. For allowance for credit losses on resale agreements, refer to the Allowance for Collateral-Dependent Financial Assets section of this note for details.

Debt Securities — Debt securities are recorded on the Consolidated Balance Sheet as of their trade dates. The Company initially classifies its debt securities as trading securities, AFS or HTM debt securities based on management’s intention on the date of the purchase. Debt securities are purchased for liquidity and investment purposes, as part of asset/liability management and other strategic activities.

Debt securities for which the Company has the positive intention and ability to hold until maturity are classified as HTM and are carried at amortized cost, net of allowance for credit losses. Debt securities not classified as trading securities or HTM securities are classified as AFS. AFS debt securities are reported at fair value, net of the allowance for credit losses, with unrealized gains and losses recorded in AOCI, net of applicable income taxes. For details of the allowance for credit losses on debt securities, refer to the Allowance for Credit Losses on Available-for-Sale and Held-to-Maturity Debt Securities sections of this note. Interest income, including any amortization of premium or accretion of discount, is included in debt securities interest and dividend income in the Company’s Consolidated Statement of Income. The Company recognizes realized gains and losses on the sale of AFS debt securities in earnings, using the specific identification method.

Upon transfer of a debt security from the AFS to HTM category, the security’s new amortized cost is reset to fair value, reduced by any previous write-offs but excluding any allowance for credit losses. Unrealized gains or losses at the date of transfer of these securities continue to be reported in AOCI and are amortized into interest income over the remaining life of the securities as effective yield adjustments, in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. For transfers of securities from the AFS to HTM category, any allowance for credit losses that was previously recorded under the AFS model is reversed and an allowance for credit losses is subsequently recorded under the HTM debt security model. The reversal and re-establishment of the allowance for credit losses are recorded in the provision for credit losses.

Equity Securities — The Company’s equity securities include both marketable and non-marketable equity securities. Marketable equity securities with readily determinable fair values are recorded at fair value with unrealized gains and losses due to changes in fair value, and are included in Other investment income on the Consolidated Statement of Income. Marketable equity securities include mutual fund investments, which are included in Affordable housing partnership, tax credit and CRA investments, net on the Consolidated Balance Sheet.

Non-marketable equity securities including tax credit investments, and other equity investments that do not have readily determinable fair values are recorded in Affordable housing partnership, tax credit and CRA investments, net, and Other assets on the Consolidated Balance Sheet and are accounted for under one of the following accounting methods:
•Equity Method — When the Company has the ability to exercise significant influence over the investee.
•Proportional Amortization Method — For qualifying tax credit investments, the Company amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received, and recognizes the amortization in Income tax expense on the Consolidated Statement of Income.
•Cost Method — The cost method is applied to restricted equity securities held for membership and regulatory purposes, such as FRB of San Francisco and FHLB stock. These investments are held at their cost minus impairment. If impaired, the carrying value is written down to the fair value of the security.
•Measurement Alternative — This method is applied to all remaining non-marketable equity securities. These securities are carried at cost adjusted for impairment, if any, plus or minus observable price changes in orderly transactions of an identical or similar security of the same issuer.
The Company’s impairment review for equity method, cost method and measurement alternative securities typically includes an analysis of the facts and circumstances of each security, the intent or requirement to sell the security, the expectations of cash flows, capital needs and the viability of its business model. For equity and cost method investments, the Company reduces the asset’s carrying value when the Company considers declines in value to be other-than-temporary impairment (“OTTI”). For securities accounted for under the measurement alternative, the Company reduces the asset value when the fair value is less than the carrying value, without the consideration of recovery.

Loans Held-for-Sale — Loans are initially classified as loans held-for-sale when they are individually identified as being available for immediate sale and management has committed to a formal plan to sell them. Loans held-for-sale are carried at lower of cost or fair value. Subject to periodic review under the Company’s evaluation process, including asset/liability and credit risk management, the Company may transfer certain loans from held-for-investment to held-for-sale measured at lower of cost or fair value. Any write-downs in the carrying amount of the loan at the date of transfer are recorded as charge-offs to the ALLL. Loan origination fees on loans held-for-sale, net of certain costs in processing and closing the loans, are deferred until the time of sale and are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale. A valuation allowance is established if the fair value of such loans is lower than their cost. If the loan or a portion of the loan cannot be sold, it is subsequently transferred back to the loans held-for-investment portfolio from the loans held-for-sale portfolio at the lower of cost or fair value on the transfer date.

Loans Held-for-Investment — At the time of commitment to originate or purchase a loan, the loan is determined to be held-for-investment if it is the Company’s intent to hold the loan to maturity or for the foreseeable future. Loans held-for-investment are stated at their outstanding principal, reduced by an ALLL and net of deferred loan fees or costs, or unearned fees on originated loans, net of unamortized premiums or unaccreted discounts from purchased loans. Nonrefundable fees and direct costs associated with the origination or purchase of loans are deferred and netted against outstanding loan balances. The deferred net loan fees and costs are recognized in interest income as an adjustment to yield over the loan term using the effective interest method. Discounts/premiums on purchased loans are accreted/amortized to interest income using the effective interest method over the remaining contractual maturity. Interest on loans is calculated using the simple-interest method on daily balances of the principal amounts outstanding. Generally, loans are placed on nonaccrual status when they become 90 days past due or more. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates. Loans are also placed on nonaccrual status when management believes, after considering economic and business conditions and collection efforts, that the borrower’s financial condition is such that full collection of principal or interest becomes uncertain, regardless of the length of past due status. Once a loan is placed on nonaccrual status, interest accrual is discontinued and all unpaid accrued interest is reversed against interest income. Interest payments received on nonaccrual loans are reflected as a reduction of principal and not as interest income. A loan is returned to accrual status when the borrower has demonstrated a satisfactory payment trend subject to management’s assessment of the borrower’s ability to repay the loan.

Loan Modifications — The Company applies the general loan modification guidance provided in ASC 310-20 to all loan modifications, including modifications made to borrowers experiencing financial difficulty. Under ASC 310-20-35-9 to 310-20-35-10, a modification is treated as a new loan only if the following two conditions are met: (1) the terms of the new loan are at least as favorable to the Company as the terms for comparable loans to other customers with similar collection risks; and (2) modifications to the terms of the original loan are more than minor. If either condition is not met, the modification is accounted for as the continuation of the existing loan with any effect of the modification treated as a prospective adjustment to the loan’s effective interest rate. A modification may vary by program and by borrower-specific characteristics, and may include rate reductions, principal forgiveness, term extensions, and payment delays, and is intended to minimize the Company’s economic loss and to avoid foreclosure or repossession of collateral. The Company applies the same credit loss methodology it uses for similar loans that were not modified. ASC 310-10-50-42 requires disclosures of modification made to borrowers experiencing financial difficulty in the forms of principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions or a combination of these types of modifications.
Allowance for Loan and Lease Losses — The ALLL is established as management’s estimate of expected credit losses inherent in the Company’s lending activities; it is increased by the provision for credit losses and decreased by net charge-offs. The ALLL is evaluated quarterly by management based on regular reviews of the collectability of the Company’s loans, and more often if deemed necessary. The Company develops and documents the ALLL methodology at the portfolio segment level. The commercial loan portfolio is comprised of commercial and industrial (“C&I”), commercial real estate (“CRE”), multifamily residential, and construction and land loans; and the consumer loan portfolio is comprised of single-family residential, home equity lines of credit (“HELOCs”), and other consumer loans.

The ALLL represents the portion of a loan’s amortized cost basis that the Company does not expect to collect due to anticipated credit losses over the loan’s contractual life, adjusted for prepayments. The Company measures the expected loan losses on a collective pool basis when similar risk characteristics exist. Models consisting of quantitative and qualitative components are designed for each pool to develop the expected credit loss estimates. Reasonable and supportable forecast periods vary by loan portfolio. The Company has adopted lifetime loss rate models for the portfolios, which use historical loss rates and forecast economic variables to calculate the expected credit losses for each loan pool. When loans do not share similar risk characteristics, the Company evaluates the loan for expected credit losses on an individual basis. Individually assessed loans include nonaccrual loans. The Company evaluates loans for expected credit losses on an individual basis if, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the original contractual terms of the loan agreement. When the loan is deemed uncollectible, it is the Company’s policy to charge off the uncollectible amount against the ALLL.

The amortized cost of loans held-for-investment excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election to not recognize an ALLL for accrued interest receivables as the Company reverses accrued interest if a loan is on nonaccrual status.

The ALLL is reported on the Consolidated Balance Sheet and the Provision for credit losses is reported on the Consolidated Statement of Income.

Allowance for Unfunded Credit Commitments — The allowance for unfunded credit commitments includes reserves provided for unfunded loan commitments, letters of credit, standby letters of credit (“SBLCs”) and recourse obligations for loans sold. The Company estimates the allowance for unfunded credit commitments over the contractual period in which the entity is exposed to credit risk via a present contractual obligation to extend credit. Within the period of credit exposure, the Company considers both the likelihood that funding will occur, and the expected credit losses on the commitments that are expected to fund over their estimated lives.

The allowance for unfunded credit commitments is maintained at a level believed by management to be sufficient to absorb expected credit losses related to unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities. For all off-balance sheet instruments and commitments, the unfunded credit exposure is calculated using assumptions based on the Company's historical utilization experience in related portfolio segments. Loss rates are applied to the calculated exposure balances to estimate the allowance for unfunded credit commitments. Other elements such as credit risk factors for loans outstanding, terms and expiration dates of the unfunded credit facilities, and other pertinent information are considered to determine the adequacy of the allowance.

The allowance for unfunded credit commitments is included in the Accrued expenses and other liabilities on the Consolidated Balance Sheet. Changes to the allowance for unfunded credit commitments are included in Provision for credit losses on the Consolidated Income Statements.
Allowance for Credit Losses on Available-for-Sale Debt Securities — For each reporting period, each AFS debt security that is in an unrealized loss position is individually analyzed as part of the Company’s ongoing assessments to determine whether a fair value below the amortized cost basis has resulted from a credit loss or other factors. The initial indicator of impairment is a decline in fair value below the amortized cost of the AFS debt security, excluding accrued interest. The Company first considers whether there is a plan to sell the AFS debt security or it is more-likely-than-not that it will be required to sell the AFS debt security before recovery of the amortized cost. In determining whether an impairment is due to credit related factors, the Company considers the severity of the decline in fair value, nature of the security, the underlying collateral, the financial condition of the issuer, changes in the AFS debt security’s ratings and other qualitative factors. For AFS debt securities that are guaranteed or issued by the U.S. government, or government-sponsored enterprises of high credit quality, the Company applies a zero credit loss assumption.

When the Company does not intend to sell the impaired AFS debt security and it is more-likely-than-not that the Company will not be required to sell the impaired debt security prior to recovery of its amortized cost basis, the credit component of the unrealized loss of the impaired AFS debt security is recognized as an allowance for credit losses, with a corresponding Provision for credit losses on the Consolidated Statement of Income and the non-credit component is recognized in Other comprehensive income (loss) on the Consolidated Statement of Comprehensive Income, net of applicable taxes. At each reporting period, the Company increases or decreases the allowance for credit losses as appropriate, while limiting reversals of the allowance for credit losses to the extent of the amounts previously recorded. If the Company intends to sell the impaired debt security or it is more-likely-than-not that the Company will be required to sell the impaired debt security prior to recovering its amortized cost basis, the entire impairment amount is recognized as an adjustment to the debt security’s amortized cost basis, with a corresponding Provision for credit losses on the Consolidated Statement of Income.

The amortized cost of the Company’s AFS debt securities excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivables on AFS debt securities as the Company reverses any accrued interest if a debt security is impaired. As each AFS debt security has a unique security structure, where the accrual status is clearly determined when certain criteria listed in the terms are met, the Company assesses the default status of each security as defined by the debt security’s specific security structure.

Allowance for Credit Losses on Held-to-Maturity Debt Securities — For each major HTM debt security type, the allowance for credit losses is estimated collectively for groups of securities with similar risk characteristics. For securities that do not share similar risk characteristics, the losses are estimated individually. The Company applies a zero credit loss assumption to certain HTM debt securities, including debt securities that are either guaranteed or issued by the U.S. government or government-sponsored enterprises, are highly rated by nationally recognized statistical rating organizations (“NRSROs”), and have a long history of no credit losses. Any expected credit loss is recorded through the allowance for credit losses and deducted from the amortized cost basis of the security, reflecting the net amount the Company expects to collect.

The amortized cost of the Company’s HTM debt securities excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivables on HTM debt securities, as the Company reverses any accrued interest against interest income if a debt security is placed on nonaccrual status. The criteria used to place HTM debt securities on nonaccrual are largely similar to those described for loans. Any cash collected on nonaccrual HTM debt securities is applied to reduce the security’s amortized cost basis and not as interest income. Generally, the Company returns an HTM security to accrual status when all delinquent interest and principal become current under the contractual terms of the security, and the collectability of remaining principal and interest is no longer doubtful.
Allowance for Collateral-Dependent Financial Assets — A financial asset is considered collateral-dependent if repayment is expected to be provided substantially through the operation or sale of the collateral. The allowance for credit losses is measured on an individual basis for collateral-dependent financial assets and determined by comparing the fair value of the collateral less the cost to sell, to the amortized cost basis of the related financial asset at the reporting date. Other than loans, collateral-dependent financial assets could also include resale agreements. In arrangements which the borrower must continually adjust the collateral securing the asset to reflect changes in the collateral’s fair value (e.g., resale agreements), the Company estimates the expected credit losses on the basis of the unsecured portion of the amortized cost as of the balance sheet date. If the fair value of the collateral is equal to or greater than the amortized cost of the resale agreement, the expected losses would be zero. If the fair value of the collateral is less than the amortized cost of the asset, the expected losses are limited to the difference between the fair value of the collateral and the amortized cost basis of the resale agreement.

Allowance for Purchased Credit Deteriorated Assets — Purchased assets that have experienced a more-than-insignificant deterioration in credit quality since origination are deemed Purchased Credit Deteriorated (“PCD”) assets. For PCD HTM debt securities and PCD loans, the company records the allowance for credit losses by grossing up the initial amortized cost, which includes the purchase price and the allowance for credit losses. The expected credit losses of PCD debt securities are measured at the individual security level. The expected credit losses for PCD loans are measured based on the loan’s unpaid principal balance. Under this approach, there is no income statement impact from the acquisition. Subsequent changes in the allowance for credit losses on PCD assets will be recognized in Provision for credit losses on the Consolidated Statement of Income. The non-credit discount or premium will be accreted to interest income based on the effective interest rate on the PCD assets determined after the gross-up for the allowance for credit losses. At the acquisition date, the initial allowance for credit losses determined on a collective basis is allocated to individual assets in accordance with ASC 326-20-30-13. Subsequent changes in the allowance for credit losses on PCD assets are recognized as Provision for credit losses (or reversal of provision for credit losses) on the Consolidated Statement of Income.

Premises and Equipment, Net — The Company’s premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed based on the straight-line method over the estimated useful lives of the various classes of assets. The ranges of estimated useful lives for the principal classes of assets are as follows:
Premises and EquipmentUseful Lives
Buildings 25 years
Building improvements
15 years
Furniture, fixtures and equipment, including computer equipment
3 to 7 years
Leasehold improvementsRemaining term of lease or useful life, whichever is shorter

The Company reviews its long-lived assets for impairment annually, or when events or changes in circumstances indicate that the carrying amounts of these assets may not be recoverable. An asset is considered impaired when the fair value, which is the expected undiscounted cash flows over the remaining useful life, is less than the net book value. The excess of the net book value over its fair value is charged as impairment loss to noninterest expense.
Goodwill — Goodwill represents the excess of the purchase price over the fair value of net assets acquired in an acquisition. Goodwill is tested for impairment on an annual basis as of December 31, or more frequently if an event occurs or circumstances change that indicate a potential impairment at the reporting unit level. The Company assesses goodwill for impairment at each operating segment level. The Company organizes its operations into three reporting segments: (1) Consumer and Business Banking; (2) Commercial Banking; and (3) Treasury and Other. For information on how the reporting units are identified and the components are aggregated, see Note 17 — Business Segments to the Consolidated Financial Statements in this Form 10-K. The Company has the option to perform a qualitative assessment of goodwill or elect to bypass the qualitative test and proceed directly to a quantitative test. If the Company performs a qualitative assessment of goodwill to test for impairment and concludes it is more likely than not that a reporting unit’s fair value is greater than its carrying value, quantitative tests are not required. If the qualitative analysis indicates that it is more likely than not that a reporting unit’s fair value is less than its carrying value, the Company is required to perform a quantitative assessment to determine if there is goodwill impairment. Factors considered in the qualitative assessments include but are not limited to macroeconomic conditions, industry and market considerations, financial performance of the respective operating segment and other relevant entity- and reporting-unit specific considerations. A quantitative valuation involves determining the fair value of each reporting unit and comparing the fair value to its corresponding carrying value. Goodwill impairment loss is recorded as a charge to noninterest expense and an adjustment to the carrying value of goodwill. Subsequent reversals of goodwill impairment are not allowed.

Derivatives — As part of its asset/liability management strategy, the Company uses derivative financial instruments to mitigate exposure to interest rate and foreign currency risks, and to assist customers with their risk management objectives. Derivatives utilized by the Company primarily include swaps, forwards and option contracts. Derivative instruments are included in Other assets or Accrued expenses and other liabilities on the Consolidated Balance Sheet at fair value. All derivatives designated as fair value hedges and hedges of the net investments in certain foreign operations are linked to specific hedged items or to groups of specific assets and liabilities on the Consolidated Balance Sheet. Cash flow hedges are linked to the forecasted transactions related to a recognized asset/liability or to groups of recognized assets/liabilities. The related cash flows impacts of derivatives are recognized on the Cash flows from operating activities section on the Consolidated Statement of Cash Flows.

The Company uses accounting hedges based on the exposure being hedged as either fair value hedges, cash flow hedges or hedges of the net investments in certain foreign operations. For fair value hedges of interest rate risk, changes in fair value of derivatives are reported in the same line item where the earnings effect of the hedged item is presented, as Interest expense or Interest and dividend income on the Consolidated Statement of Income. Changes in fair value of derivatives designated as hedges of the net investments in foreign operations are recorded as a component of AOCI. For cash flow hedges of floating-rate interest payments or receipts, the change in the fair value of hedges is recognized in AOCI on the Consolidated Balance Sheet and reclassified to earnings in the same period when the hedged cash flows impact earnings. The changes in the fair value of the hedging instrument are recorded in the same income statement line item as the hedged item’s expense or income is recorded. For example, fair value changes of hedges on borrowings are recorded within Interest expense, and fair value changes of hedges on loan assets are recorded as interest income within Interest and dividend income on the Consolidated Statements of Income.

To qualify as an accounting hedge under the hedge accounting rules (versus an economic hedge where hedge accounting is not sought), a derivative must be highly effective in offsetting the risk designated as being hedged at the inception and on an ongoing basis. The Company evaluates the hedge effectiveness and formally documents its hedging relationships at inception, including the identification of the hedging instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction at the time the derivative contract is executed. Subsequent to inception, on a quarterly basis, the Company assesses whether the derivatives used in hedging transactions are highly effective in offsetting changes in the fair value of the hedged items or the cash flows of attributable hedged risks. The quarterly assessment is performed on both a prospective basis (to reconfirm forward-looking expectations that the hedge will be highly effective) and a retrospective basis (to determine whether the hedging relationship was highly effective).
The Company discontinues hedge accounting prospectively when (i) a derivative is no longer highly effective in offsetting the risk being hedged; (ii) a derivative expires, or is sold, terminated or exercised, or (iii) the Company determines that designation of a derivative as a hedge is no longer appropriate. If a fair value hedge is discontinued, the derivative will continue to be recorded on the Consolidated Balance Sheet at fair value with changes in fair value recognized on the Consolidated Statement of Income. When the hedged net investment is discontinued, any amounts that have not yet been recognized in earnings remain in AOCI until the net investment is either sold or substantially liquidated where the changes in the fair value of the derivatives are reclassified out of AOCI into Foreign exchange income on the Consolidated Statement of Income. If a cash flow hedge is discontinued but the hedged forecasted cash flow is still expected to happen, the derivative net gain or loss will remain in AOCI and be reclassified into earnings in the periods in which the hedged forecasted cash flow affects earnings. If a cash flow hedge is discontinued and it becomes probable that the forecasted cash flow is not expected to happen, the derivative net gain or loss will be reclassified into earnings immediately.

The Company also offers various interest rate, commodity and foreign exchange derivative products to customers. These derivative contracts are recorded at fair value with changes in fair value recorded in Customer derivative income or Foreign exchange income on the Consolidated Statement of Income.

As part of its loan origination process, the Company may periodically receive equity warrants to purchase preferred and/or common stock of the public or private companies to which it provides loans. Separately, the Company granted performance-based restricted stock units (“RSUs”) as part of its consideration for an investment made during the third quarter of 2023. The vesting of these performance-based RSUs is contingent on the investee meeting certain financial performance targets during the future performance period. These equity contracts are accounted for as derivatives and recorded at fair value in Other assets or Accrued expenses and other liabilities on the Consolidated Balance Sheet with changes in fair value recorded in Lending fees, for equity warrants related to the loan origination process, or Other investment income, for performance-based RSU’s, on the Consolidated Statement of Income.

The Company is exposed to counterparty credit risk, which is the risk that counterparties to the derivative contracts do not perform as expected. Valuation of derivative assets and liabilities reflect the value of the instrument inclusive of the nonperformance risk. The Company uses master netting arrangements to mitigate counterparty credit risk in derivative transactions. To the extent the derivatives are subject to master netting arrangements, the Company takes into account the impact of master netting arrangements that allow the Company to set off all derivative contracts executed with the same counterparty on a net basis, and to offset the net derivative position with the related cash and securities collateral. The Company elects to offset derivative transactions with the same counterparty on the Consolidated Balance Sheet when a derivative transaction has a legally enforceable master netting arrangement and when it is eligible for netting under ASC 210-20-45-1, Balance Sheet Offsetting: Netting Derivative Positions on Balance Sheet. Derivative balances and related cash collateral are presented net on the Consolidated Balance Sheet. In addition, the Company applies the Settlement to Market treatment for the cash variation margin received/pledged on our interest rate and commodity contracts cleared through certain centrally cleared counterparties. As a result, derivative balances with these counterparties are considered settled by the variation margin.

Fair Value — The Company records or discloses certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or the price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value of financial instruments, the Company uses various methods including market and income approaches. Based on these approaches, the Company utilizes certain assumptions that market participants would use in pricing an asset or a liability. These inputs can be readily observable, market corroborated or generally unobservable. Fair value measurements are based on the exit price notion that maximizes the use of observable inputs and minimizes the use of unobservable inputs. However, for certain instruments, the Company must utilize unobservable inputs in determining fair value due to the lack of observable inputs in the market, which requires greater judgment in the measurement of fair value.

All inputs, whether observable or unobservable, are ranked in accordance with a prescribed fair value hierarchy that assigns the highest priority to quoted prices in active markets and the lowest priority to prices derived from data lacking transparency. The Company’s assets and liabilities are classified in their entirety based on the lowest level of input that is significant to their fair value measurements. The fair value of the Company’s assets and liabilities is classified and disclosed in one of the following three categories:
•Level 1 — Valuation is based on quoted prices for identical instruments traded in active markets.
•Level 2 — Valuation is based on quoted prices for similar instruments traded in active markets; quoted prices for identical or similar instruments traded in markets that are not active; and model-derived valuations whose inputs are observable and can be corroborated by market data.
•Level 3 — Valuation is based on significant unobservable inputs for determining the fair value of assets or liabilities. These significant unobservable inputs reflect assumptions that market participants may use in pricing the assets or liabilities.

For additional information on fair value, see Note 2 — Fair Value Measurement and Fair Value of Financial Instruments to the Consolidated Financial Statements in this Form 10-K.

Stock-Based Compensation — The Company grants time-based RSUs, which include service conditions for vesting. RSUs that vest in the form of shares of the Company’s common stock are classified as equity. Compensation cost for these time-based awards is based on the quoted market price of the Company’s common stock at the grant date. RSUs that will be settled in cash instead of shares are liability classified awards and compensation cost for these awards is adjusted to fair value based on changes in the Company’s stock price up to the settlement date. In addition, the Company grants performance-based RSUs, which contain additional performance goals and market conditions that are required to be met in order for the awards to vest. Compensation expense for these performance-based RSUs is based on the grant-date fair value considering both performance and market conditions. Subsequently, the Company evaluates the probable outcome of the performance conditions quarterly and makes cumulative adjustments for current and prior periods in compensation expense in the period of change. Market conditions subsequent to the grant date have no impact on the amount of compensation expense.

Compensation cost is amortized on a straight-line basis over the requisite service period for the entire award, reduced by expected forfeitures. Effective third quarter 2025, compensation cost related to awards granted to employees who meet certain age plus years-of-service requirements (“retirement-eligible employees”) is accrued over the service period required to earn the award prior to the grant date, in accordance with ASC 718-10-55-108. This change in the timing of recognition for awards that were granted to or are expected to be granted to retirement-eligible employees resulted in $31 million of additional compensation expense in 2025. Forfeitures are estimated at the time of grant and are updated quarterly. If the estimated forfeitures are revised, a cumulative effect of changes in estimated forfeitures for the current and prior periods is recognized in compensation expense in the period of change. Excess tax benefits and deficiencies on share-based payment awards are recognized within Income tax expense on the Consolidated Statement of Income. Refer to Note 13 — Stock Compensation Plans to the Consolidated Financial Statements in this Form 10-K for additional information.

Revenue from Contracts with Customers — The Company recognizes two primary types of revenue on its Consolidated Statement of Income: Net interest income and Noninterest income. The Company’s revenue from contracts with customers consists of service charges and fees related to deposit accounts, card income and wealth management fees. These revenue streams as described below comprised 43%, 43% and 41% of total noninterest income for the years ended December 31, 2025, 2024 and 2023, respectively.
•Deposit Service Charges and Related Fee Income — The Company offers a range of deposit products to individuals and businesses, which includes savings, money market, checking and time deposit accounts. In addition to ongoing maintenance charges, treasury management and business account analysis services are offered to commercial deposit customers. Other optional services such as various in-branch services, automated teller machine/debit card usage, wire transfer services or check orders are also offered. The monthly account fees may vary with the amount of average monthly deposit balances maintained, or the Company may charge a fixed monthly account maintenance fee if certain average balances are not maintained. In addition, each time a deposit customer selects an optional service, the Company may earn transaction fees, generally recognized by the Company at the point when the transaction occurs. For business analysis accounts, commercial deposit customers receive an earnings credit based on their account balance, which can be used to offset the cost of banking and treasury management services. Business analysis accounts that are assessed fees in excess of earnings credits received are typically charged at the end of each month, after all transactions are known and the credits are calculated. Deposit service charges and related fee income are recognized in all operating segments and included in Commercial and consumer deposit-related account fees on the Consolidated Statement of Income.
•Wealth Management Fees — The Company provides investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies and risk management strategies. The fees the Company earns are variable and are generally received monthly. The Company recognizes revenue for the services performed at quarter-end based on actual transaction details received from the broker-dealer with whom the Company engages. Wealth management fees are recognized in both consumer and business banking, and commercial banking segments.
•Card Income — Card income primarily consists of merchant referral fees where the Company provides marketing and referral services to acquiring banks for merchant card processing services and earns variable referral fees based on transaction activities. The Company satisfies its performance obligation over time as the Company identifies, solicits, and refers business customers who are provided such services. Card income is recognized in the consumer and business banking, and commercial banking segments and is included in Commercial and consumer deposit-related fees on the Consolidated Statement of Income.

Income Taxes — The Company files consolidated federal income tax returns, foreign tax returns, and various combined and separate company state tax returns. The calculation of the Company’s income tax provision and related tax accruals requires the use of estimates and judgments. Income tax expense consists of two components: current and deferred. Current tax expense represents taxes to be paid or refunded for the current period and includes income tax expense related to our uncertain tax positions. Income tax liabilities (receivables) represent the estimated amounts due to (due from) the various taxing jurisdictions where the Company has established a tax presence and are reported in Accrued expenses and other liabilities or Other assets on the Consolidated Balance Sheets. Deferred tax expense results from changes in deferred tax assets and liabilities between periods, and is determined using the balance sheet method. Under the balance sheet method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities. Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards and tax credit carryforwards. Management regularly reviews the Company’s tax positions and deferred tax balances. In concluding whether a valuation allowance is required, the Company considers all available evidence, both positive and negative, based on the more-likely-than-not criteria that such assets will be realized. Factors considered in this analysis include the Company’s ability to generate future taxable income, implement tax-planning strategies (as defined in ASC 740, Income Taxes) and utilize taxable income from prior carryback years (if such carryback is permitted under the applicable tax law), as well as future reversals of existing taxable temporary differences. To the extent a deferred tax asset is no longer expected more-likely-than-not to be realized, a valuation allowance is established. Deferred tax assets net of deferred tax liabilities are included in Other assets on the Consolidated Balance Sheet.

The Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in an income tax return. Uncertain tax positions that meet the more-likely-than-not recognition threshold are measured to determine the amount of benefit to recognize. An uncertain tax position is measured at the largest amount of benefit that management believes has a greater than 50% likelihood of realization upon settlement. Tax benefits not meeting our realization criteria represent unrecognized tax benefits. The Company establishes a liability for potential taxes, interest and penalties related to uncertain tax positions based on facts and circumstances, including the interpretation of existing law, new judicial or regulatory guidance, and the status of tax audits.

The Company uses the PAM for affordable housing partnership investments, whereby the associated tax credits are recognized as a reduction to tax expense. Upon the adoption of ASU 2023-02 on January 1, 2024, the Company also began applying the PAM to new markets, historic, production and renewable energy tax credit investments. The Company also holds investments in other tax credit investments using either equity method or the measurement alternative method of accounting. These tax credits are recognized on the Consolidated Financial Statements to the extent they are utilized on the Company’s income tax returns in the year the credit arises under the flow through method of accounting.

From time to time, the Company purchases tax credits. The purchased credit is either recorded as an adjustment to income taxes refundable (payable) or as a deferred tax asset, or if the purchased credit is expected to be carried forward to be utilized on future income tax returns, the difference between the purchase price, including direct costs to acquire the credit, and the purchased tax credit is recognized as a deferred credit. The deferred credit is recognized in income tax expense in proportion to the reversal of the associated deferred tax asset.
Earnings Per Share — Basic EPS is computed by dividing net income by the weighted-average number of outstanding common shares. Outstanding common shares include contingently issuable shares when the contingent condition has been satisfied. Employee share-based payment awards in the form of shares that vest when an employee retires or become retirement-eligible are treated as contingently issuable shares. Diluted EPS is computed by taking net income, adjusted for fair value changes of liability-classified equity contracts that are share-settled, divided by the weighted-average number of common shares outstanding during each period, plus any incremental dilutive common share equivalents calculated for outstanding time- and performance-based RSUs and contingently issuable shares computed using the treasury stock method.

Foreign Currency Translation — When the functional currency of a foreign operation differs from the Company’s reporting currency, the U.S. dollar (“USD”), the assets and liabilities of the foreign operations are translated, for consolidation purposes, from the functional currency to the Company’s reporting currency using period-end spot foreign exchange rates. Revenues and expenses of the foreign operations are translated, for the purpose of consolidation, from its functional currency into the reporting currency USD at the transaction date foreign exchange rates. The effects of these translation adjustments are reported in the Foreign currency translation adjustments account within Other comprehensive income (loss) on the Consolidated Statement of Comprehensive Income, net of any related hedged effects. For transactions that are denominated in a currency other than the functional currency, including transactions denominated in the local currencies of foreign operations that use the USD as their functional currency, the effects of changes in exchange rates are reported in Foreign exchange income on the Consolidated Statement of Income.

Accounting Pronouncement Adopted in 2025
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

December 31, 2025

Early adoption is permitted.
ASU 2023-09 amends the disclosure requirements for income tax rate reconciliation and income taxes paid. The guidance requires public business entities to provide on an annual basis:

•A reconciliation of statutory tax rate to effective tax rate, using both percentages and reporting currency amounts, into specific categories with reconciling items at or above 5% of the statutory federal income rate.
•The amount of income taxes paid (net of refunds) disaggregated by federal, state and foreign taxes, with further disaggregation by individual jurisdictions that are equal to 5% or more of income taxes paid.
•Income (or loss) before income tax expense (or benefit) disaggregated between domestic and foreign, and income tax expense (or benefit) disaggregated by federal, state and foreign.
The Company adopted ASU 2023-09 on December 31, 2025, retrospectively by providing the revised disclosures for all periods presented.

Recent Accounting Pronouncements Yet to be Adopted
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
January 1, 2027

Early adoption is permitted.
ASU 2025-09 addresses five specific matters:

1.Broadens the set of hedged risk that may be combined within a group of individual forecasted transactions in a cash flow hedge.
2.Enables entities to apply cash flow hedge accounting on “choose-your-rate” debt.
3.Broadens situations where hedge accounting can be applied to forecasted purchases and sales of nonfinancial assets.
4.Removes the requirement to perform net written option assessment for a compound derivative when it is designated as a hedging instrument.
5.In the case of a dual hedge where a foreign- currency-denominated debt instrument is designated as the hedging instrument in a net investment hedge and a hedged item in a fair value of interest rate risk, the ASU requires the debt instruments’ fair value-hedge basis adjustment be excluded when performing the net investment hedge effectiveness assessment.

This guidance must be applied prospectively for all hedging relationships. The Company may elect to adopt this ASU amendments for hedging relationships as of the adoption date.
The Company is currently evaluating the impact of this guidance and does not expect adoption to have a material impact on the Company’s Consolidated Financial Statements.
Recent Accounting Pronouncements Yet to be Adopted (Continued)
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-08, Financial Instruments—Credit Losses (Topic 326)
January 1, 2027

Early adoption is permitted.
ASU 2025-08 broadens the population of financial assets that are within scope of the gross up approach under ASC 326 to include purchased seasoned loans which are defined as:

•Non-PCD loans that are obtained in a business combination.
•Non-PCD loans that are (1) obtained in an asset acquisition or upon consolidation of a VIE that is not a business and (2) are acquired more than 90 days after their origination date by a transferee that was not involved in their origination.

The guidance introduces an accounting policy election to use the amortized cost basis of the asset rather than the discounted cash flow analysis to subsequently measure the credit losses on purchased seasoned loans.

The new guidance is not applicable to credit card loans, ASC 606 receivables, or debt securities. The guidance must be applied prospectively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
ASU No. 2024-03, Income Statement —Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
December 31, 2027

Early adoption is permitted.
ASU 2024-03 requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements. Disclosures of disaggregated expenses include the following:

•The amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion and amortization of capitalized costs related to oil- and gas-producing activities in each relevant expense caption.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement and Fair Value of Financial Instruments Fair Value Measurement and Fair Value of Financial Instruments
Under applicable accounting standards, the Company measures a portion of its assets and liabilities at fair value. These assets and liabilities are predominantly recorded at fair value on a recurring basis. At times, certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments only as required through the application of an accounting method such as lower of cost or fair value or write-down of individual assets. The Company categorizes its assets and liabilities into three levels based on the established fair value hierarchy and conducts a review of fair value hierarchy classifications on a quarterly basis. For more information regarding the fair value hierarchy and how the Company measures fair value, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Fair Value to the Consolidated Financial Statements in this Form 10-K.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following section describes the valuation methodologies used by the Company to measure financial assets and liabilities on a recurring basis, as well as the general classification of these instruments within the fair value hierarchy.

Available-for-Sale Debt Securities — The fair value of AFS debt securities is generally determined by third-party pricing service providers, including brokers who have experience in valuing these securities. The valuations provided by the third-party pricing service providers are based on observable market inputs, which include benchmark yields, reported trades, issuer spreads, benchmark securities, bids, offers, prepayment expectations and reference data obtained from market research publications. Inputs used by the third-party pricing service providers in valuing collateralized mortgage obligations and other securitization structures also include newly issued data, monthly payment information, whole loan collateral performance, tranche evaluation and “To Be Announced” prices. In valuing securities issued by state and political subdivisions, inputs used by third-party pricing service providers also include material event notices. The valuations provided by the brokers incorporate information from their trading desks, research and other market data.
On a monthly basis, the Company validates the valuations provided by third-party pricing service providers to ensure that the fair value determination is consistent with the applicable accounting guidance and that the financial instruments are properly classified in the fair value hierarchy. To perform this validation, the Company evaluates the fair values of securities by comparing the fair values provided by the third-party pricing service providers to prices from other available independent sources for the same securities. When significant variances in prices are identified, the Company further compares the inputs used by different sources to ascertain the reliability of these sources. On a quarterly basis, the Company reviews the valuation inputs and methodology furnished by third-party pricing service providers for each security category. On an annual basis, the Company assesses the reasonableness of broker pricing by reviewing the related pricing methodologies. This review includes corroborating pricing with market data, performing pricing input reviews under current market-related conditions, and investigating security pricing by instrument as needed.

When a quoted price in an active market exists for the identical security, this price is used to determine the fair value and the AFS debt security is classified as Level 1. Level 1 AFS debt securities consist of U.S. Treasury securities. When pricing is unavailable from third-party pricing service providers for certain securities, the Company requests market quotes from various independent external brokers and utilizes the average quoted market prices. In addition, the Company obtains market quotes from other official published sources. As these valuations are based on observable inputs in the current marketplace, they are classified as Level 2.

Equity Securities — Equity securities consist of mutual funds and exchange-traded equity securities. The Company invests in these mutual funds for CRA purposes. The Company uses net asset value (“NAV”) information to determine the fair value of these equity securities. When NAV is available periodically and the equity securities can be redeemed at the publicly available NAV, the fair value of the equity securities is classified as Level 1. When NAV is available periodically, but the equity securities may not be readily marketable at its periodic NAV in the secondary market, the fair value of these equity securities is classified as Level 2. Exchange-traded equity securities are measured based on quoted prices on an active exchange market, and classified as Level 1.

Interest Rate Contracts — Interest rate contracts consist of interest rate swaps and options. The fair value of the interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments). The fair value of the interest rate options, which consist of floors and caps, is determined using the market standard methodology of discounting the future expected cash receipts that will occur if variable interest rates fall below (rise above) the strike rate of the floors (caps). In addition, to comply with the provisions of ASC 820, Fair Value Measurement, the Company incorporates credit valuation adjustments to appropriately reflect both its own and the respective counterparty’s nonperformance risk in the fair value measurements of its derivatives. The credit valuation adjustments associated with the Company’s derivatives utilize model-derived credit spreads, which are Level 3 inputs. Considering the observable nature of all other significant inputs utilized, the Company classifies these derivative instruments as Level 2.

Foreign Exchange Contracts — The fair value of foreign exchange contracts is determined at each reporting period based on changes in the applicable foreign exchange rates. These are over-the-counter contracts where quoted market prices are not readily available. Valuation is measured using conventional valuation methodologies with observable market data. Due to the short-term nature of the majority of these contracts, the counterparties’ credit risks are considered nominal and result in no adjustments to the valuation of the foreign exchange contracts. Due to the observable nature of the inputs used in deriving the fair value of these contracts, the valuation of foreign exchange contracts is classified as Level 2. In addition, the Bank managed its foreign currency exposure in the net investment in its China subsidiary, EWCN, a non-USD functional currency subsidiary, with foreign currency non-deliverable forward contracts. These foreign currency non-deliverable forward contracts were designated as net investment hedges. The fair value of foreign currency non-deliverable forward contracts is determined by comparing the contracted foreign exchange rate to the current market foreign exchange rate. Key inputs of the current market exchange rate include the spot and forward rates of the contractual currencies. Foreign exchange forward curves are used to determine which forward rate pertains to a specific maturity. Due to the observable nature of the inputs used in deriving the estimated fair value, these instruments are classified as Level 2.
Credit Contracts — Credit contracts utilized by the Company are comprised of credit risk participation agreements (“RPAs”) between the Company and institutional counterparties. The fair value of the RPAs is calculated by determining the total expected asset or liability exposure of the derivatives to the borrowers and applying the borrowers’ credit spread to that exposure, which is an unobservable input. Total expected exposure incorporates both the current and potential future exposure of the derivatives, derived from using observable inputs, such as yield curves and volatilities. Due to the observable nature of the majority of significant inputs used in deriving the estimated fair value, credit contracts are classified as Level 2.

Equity Contracts — Equity contracts consist of warrants to purchase private company common or preferred stock, and any liability-classified contingently issuable shares of the Company. The fair value of the warrants is based on the Black-Scholes option pricing model. The model uses inputs such as the offering price observed in the most recent round of funding, stated strike price, warrant expiration date, risk-free interest rate based on duration-matched U.S. Treasury rate and equity volatility. The Company applies proxy volatilities based on the industry sectors of the private companies. The model values are then adjusted for a general lack of liquidity due to the private nature of the underlying companies. Since both equity volatility and liquidity discount assumptions are subject to management’s judgment, measurement uncertainty is inherent in the valuation of private company warrants. Due to the unobservable nature of the equity volatility and liquidity discount assumptions used in deriving the estimated fair value, warrants from private companies are classified as Level 3. On a quarterly basis, the changes in the fair value of warrants from private companies are reviewed for reasonableness, and a measurement of uncertainty analysis on the equity volatility and liquidity discount assumptions is performed.

In connection with the Company’s acquisition of a 49.99% equity interest in an investee during the third quarter of 2023, the Company granted 349 thousand performance-based RSUs as part of its consideration, in addition to $95 million in cash. The vesting of these equity contracts on September 1, 2028, is contingent on the investee meeting certain financial performance targets during the performance period. The fair value of liability-classified equity contracts varies based on the operating revenue and measure of operating profit of the investee to be achieved during the future performance period, as well as the Company’s stock price. These performance-based RSUs are expected to vest into a variable number of the Company’s common stock, ranging from 20% to 200% of the target performance-based RSUs granted. Due to the use of significant unobservable inputs in their valuation, these equity contracts are classified as Level 3. For additional information on the equity contracts, refer to Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K.

Commodity Contracts — Commodity contracts consist of swaps and options referencing commodity products. The fair value of the commodity option contracts is determined using the Black-Scholes model and assumptions that include expectations of future commodity price and volatility. The future commodity contract price is derived from observable inputs such as the market price of the commodity. Commodity swaps are structured as an exchange of fixed cash flows for floating cash flows. The fair value of the commodity swaps is determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments) based on the market prices of the commodity. The fixed cash flows are predetermined based on the known volumes and fixed price as specified in the swap agreement. The floating cash flows are correlated with the change of forward commodity prices, which is derived from market corroborated futures settlement prices. As a result, the Company classifies these derivative instruments as Level 2 due to the observable nature of the significant inputs utilized.
The following tables present financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2025 and 2024:
Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2025
($ in thousands)Level 1Level 2Level 3Total Fair Value
AFS debt securities:
U.S. Treasury securities$993,913 $— $— $993,913 
U.S. government agency and U.S. government sponsored enterprise debt securities— 257,654 — 257,654 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities (1):
Commercial mortgage-backed securities— 265,338 — 265,338 
Residential mortgage-backed securities— 10,132,653 — 10,132,653 
Municipal securities— 243,102 — 243,102 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 190,948 — 190,948 
Residential mortgage-backed securities— 393,787 — 393,787 
Corporate debt securities— 464,981 — 464,981 
Foreign government bonds— 238,455 — 238,455 
Asset-backed securities— 31,389 — 31,389 
Total AFS debt securities$993,913 $12,218,307 $— $13,212,220 
Affordable housing partnership, tax credit and CRA investments, net:
Equity securities$22,098 $4,298 $— $26,396 
Total affordable housing partnership, tax credit and CRA investments, net$22,098 $4,298 $— $26,396 
Other assets:
Equity securities$630 $— $— $630 
Total other assets$630 $— $— $630 
Derivative assets:
Interest rate contracts$— $298,558 $— $298,558 
Foreign exchange contracts— 44,340 — 44,340 
Credit contracts— 25 — 25 
Equity contracts— — 522 522 
Commodity contracts— 66,022 — 66,022 
Gross derivative assets$— $408,945 $522 $409,467 
Netting adjustments (2)
$— $(257,525)$— $(257,525)
Net derivative assets$— $151,420 $522 $151,942 
Derivative liabilities:
Interest rate contracts$— $256,870 $— $256,870 
Foreign exchange contracts— 43,160 — 43,160 
Equity contracts (3)
— — 13,734 13,734 
Credit contracts— 51 — 51 
Commodity contracts— 72,158 — 72,158 
Gross derivative liabilities$— $372,239 $13,734 $385,973 
Netting adjustments (2)
$— $(101,640)$— $(101,640)
Net derivative liabilities$— $270,599 $13,734 $284,333 
Refer to table footnotes on the following page.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2024
($ in thousands)Level 1Level 2Level 3Total Fair Value
AFS debt securities:
U.S. Treasury securities$638,265 $— $— $638,265 
U.S. government agency and U.S. government sponsored enterprise debt securities— 262,587 — 262,587 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities (1):
Commercial mortgage-backed securities— 426,214 — 426,214 
Residential mortgage-backed securities— 7,738,260 — 7,738,260 
Municipal securities— 250,153 — 250,153 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 258,470 — 258,470 
Residential mortgage-backed securities— 433,608 — 433,608 
Corporate debt securities— 526,166 — 526,166 
Foreign government bonds— 233,880 — 233,880 
Asset-backed securities— 34,715 — 34,715 
Collateralized loan obligations (“CLOs”)
— 44,493 — 44,493 
Total AFS debt securities$638,265 $10,208,546 $— $10,846,811 
Affordable housing partnership, tax credit and CRA investments, net:
Equity securities$20,817 $4,204 $— $25,021 
Total affordable housing partnership, tax credit and CRA investments, net$20,817 $4,204 $— $25,021 
Other assets:
Equity securities$568 $— $— $568 
Total other assets$568 $— $— $568 
Derivative assets:
Interest rate contracts$— $385,311 $— $385,311 
Foreign exchange contracts— 89,083 — 89,083 
Credit contracts— 1 — 1 
Equity contracts— — 239 239 
Commodity contracts— 48,499 — 48,499 
Gross derivative assets$— $522,894 $239 $523,133 
Netting adjustments (2)
$— $(427,292)$— $(427,292)
Net derivative assets$— $95,602 $239 $95,841 
Derivative liabilities:
Interest rate contracts$— $414,172 $— $414,172 
Foreign exchange contracts— 71,254 — 71,254 
Equity contracts (3)
— — 15,119 15,119 
Credit contracts— 12 — 12 
Commodity contracts— 45,328 — 45,328 
Gross derivative liabilities$— $530,766 $15,119 $545,885 
Netting adjustments (2)
$— $(112,284)$— $(112,284)
Net derivative liabilities$— $418,482 $15,119 $433,601 
(1)Includes Government National Mortgage Association (“GNMA”) AFS debt securities totaling $9.6 billion and $7.2 billion of fair value as of December 31, 2025 and 2024, respectively.
(2)Represents the balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K for additional information.
(3)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
For the years ended December 31, 2025, 2024 and 2023, Level 3 fair value measurements that were measured on a recurring basis consisted of warrant equity contracts issued by private companies and liability-classified contingently issuable shares of the Company. The following table provides a reconciliation of the beginning and ending balances of these equity contracts for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Derivative assets:
Equity contracts
Beginning balance$239 $336 $323 
Total losses included in earnings (1)
(156)(97)(79)
Issuances (2)
439 — 92 
Ending balance$522 $239 $336 
Derivative liabilities:
Equity contracts (3)
Beginning balance$15,119 $15,119 $— 
Total gains included in earnings (4)
(1,385)— — 
Issuances— — 15,119 
Ending balance$13,734 $15,119 $15,119 
(1)Includes unrealized losses recorded in Lending and loan servicing fees on the Consolidated Statement of Income.
(2)Included in Lending and loan servicing fees on the Consolidated Statement of Income.
(3)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
(4)Included in Other investment income on the Consolidated Statement of Income.

The following table presents quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements as of December 31, 2025 and 2024. The significant unobservable inputs presented in the table below are those that the Company considers significant to the fair value of the Level 3 assets. The Company considers unobservable inputs to be significant if, by their exclusion, the fair value of the Level 3 assets would be impacted by a predetermined percentage change.
($ in thousands)Fair Value Measurements (Level 3)Valuation TechniqueUnobservable InputsRange of Inputs
Weighted- Average of Inputs
December 31, 2025
Derivative assets:
Equity contracts$522 Black-Scholes option pricing modelEquity volatility
34% — 53%
40%
(1)
Liquidity discount47%47%
Derivative liabilities:
Equity contracts (2)
$13,734 Internal model
Payout % based on operating revenue and measure of operating profit of investee
35%35%
December 31, 2024
Derivative assets:
Equity contracts$239 Black-Scholes option pricing modelEquity volatility
38% — 57%
50%
(1)
Liquidity discount47%47%
Derivative liabilities:
Equity contracts (2)
$15,119 Internal model
Payout % based on operating revenue and measure of operating profit of investee
84%84%
(1)Weighted-average of inputs is calculated based on the fair value of equity contracts as of December 31, 2025 and 2024.
(2)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis may include certain individually evaluated loans held-for-investment, loans held-for-sale, affordable housing partnership, tax credit and CRA investments, OREO, loans held-for-sale and other nonperforming assets. Nonrecurring fair value adjustments may result from the impairment on certain individually evaluated loans held-for-investment and affordable housing partnership, tax credit and CRA investments, from the write-downs of OREO and other nonperforming assets, or from the application of lower of cost or fair value on loans held-for-sale.

Individually Evaluated Loans Held-for-Investment — Individually evaluated loans held-for-investment are classified as Level 3 assets. The following two methods are used to derive the fair value of individually evaluated loans held-for-investment:
•Discounted cash flow valuation techniques consist of developing an expected stream of cash flows over the life of the loans, and then calculating the present value of the loans by discounting the expected cash flows at a designated discount rate.
•When the repayment of an individually evaluated loan is dependent on the sale of the collateral, the fair value of the loan is determined based on the fair value of the underlying collateral, which may take the form of real estate, inventory, equipment, contracts or guarantees. The fair value of the underlying collateral is generally based on third-party appraisals, or an internal valuation if a third-party appraisal is not required by regulations, or is unavailable. An internal valuation utilizes one or more valuation techniques such as the income, market and/or cost approaches.

Affordable Housing Partnership, Tax Credit and CRA Investments, Net — The Company conducts due diligence and secures applicable internal and external approval on its affordable housing partnership, tax credit and CRA investments prior to closing the investment and initial funding. After closing, the Company continues its periodic monitoring process to ensure that book values are realizable, the investments are performing as expected and there is no significant tax credit recapture risk. This monitoring process includes reviewing the investment entity’s financial statements, production reports and annual tax returns, the annual financial statements of the sponsor and guarantor (if any) and a comparison of the actual performance to plan based on the final financial model at the time of closing. The Company assesses its tax credit and other investments for possible OTTI on an annual basis or when events or circumstances suggest that the carrying amount of the investments may not be realizable. These circumstances can include, but are not limited to the following factors:
•expected future cash flows that are less than the carrying amount of the investment;
•changes in the economic, market or technological environment that could adversely affect the investee’s operations;
•the potential for tax credit recapture; and
•other factors that raise doubt about the investee’s ability to continue as a going concern, such as negative cash flows from operations and the continuing prospects of the underlying operations of the investment.

All available information is considered in assessing whether a decline in value is other-than-temporary. Generally, none of the aforementioned factors are individually conclusive and the relative importance placed on individual facts may vary depending on the situation. In accordance with ASC 323-10-35-32, Investments — Equity Method and Joint Ventures, an impairment charge would only be recognized in earnings for a decline in value that is determined to be other-than-temporary.

Other Real Estate Owned — The Company’s OREO represents properties acquired through foreclosure, or through full or partial satisfaction of loans held-for-investment such as an acceptance of a deed-in-lieu of foreclosure. These OREO properties are recorded at estimated fair value less the costs to sell at the time of foreclosure or at the lower of cost or estimated fair value less the costs to sell subsequent to acquisition. On a monthly basis, the current fair market value of each OREO property is reviewed to ensure that the current carrying value is appropriate. OREO properties are classified as Level 3.
The following tables present the carrying amounts of assets that were still held and had fair value adjustments measured on a nonrecurring basis as of December 31, 2025 and 2024:
Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2025
($ in thousands)Level 1Level 2Level 3Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $5,916 $5,916 
CRE:
CRE— — 13,335 13,335 
Total loans held-for-investment$— $— $19,251 $19,251 
Affordable housing partnership, tax credit and CRA investments, net$— $— $953 $953 
OREO (1)
$— $— $13,035 $13,035 
Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2024
($ in thousands)Level 1Level 2Level 3Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $48,384 $48,384 
CRE:
CRE— — 1,678 1,678 
Construction and land— — 11,316 11,316 
Total commercial— — 61,378 61,378 
Consumer:
Residential mortgage:
HELOCs— — 108 108 
Total consumer— — 108 108 
Total loans held-for-investment$— $— $61,486 $61,486 
Affordable housing partnership, tax credit and CRA investments, net$— $— $5,000 $5,000 
OREO (1)
$— $— $19,386 $19,386 
(1)Represents the carrying value of OREO property that was written down subsequent to its initial classification as OREO and is included in Other assets on the Consolidated Balance Sheet.
The following table presents the change in the fair value of certain assets held at the end of the respective reporting periods, for which a nonrecurring fair value adjustment was recognized for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Loans held-for-investment:
Commercial:
C&I$(40,996)$(43,754)$(6,152)
CRE:
CRE(21,830)(78)(1,183)
Construction and land— (2,289)— 
Total CRE(21,830)(2,367)(1,183)
Total commercial(62,826)(46,121)(7,335)
Consumer:
Residential mortgage:
Single-family residential— (1,392)— 
HELOCs— — (40)
Total consumer— (1,392)(40)
Total loans held-for-investment$(62,826)$(47,513)$(7,375)
Affordable housing partnership, tax credit and CRA investments, net(550)(685)(1,140)
OREO(7,381)(7,735)— 
Total nonrecurring fair value losses$(70,757)$(55,933)$(8,515)

The following table presents the quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements that are measured on a nonrecurring basis as of December 31, 2025 and 2024:
($ in thousands)Fair Value Measurements (Level 3)Valuation TechniquesUnobservable InputsRange of InputsWeighted-Average of Inputs
December 31, 2025
Loans held-for-investment$4,516 Fair value of collateralDiscount
75% — 100%
75%
(1)
$14,735 Fair value of propertySelling cost
8%
8%
Affordable housing partnership, tax credit and CRA investments, net$953 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$13,035 Fair value of propertySelling cost8%8%
December 31, 2024
Loans held-for-investment$910 Fair value of collateralDiscount50%50%
$22,993 Fair value of collateralContract valueNMNM
$37,583 Fair value of propertySelling cost
8% — 20%
10%
(1)
Affordable housing partnership, tax credit and CRA investments, net$5,000 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$19,386 Fair value of propertySelling cost8%8%
NM - Not meaningful
(1)Weighted-average of inputs is based on the relative fair value of the respective assets as of both December 31, 2025 and 2024.
Disclosures about the Fair Value of Financial Instruments

The following tables present the fair value estimates for financial instruments as of December 31, 2025 and 2024, excluding financial instruments recorded at fair value on a recurring basis as they are included in the tables presented elsewhere in this Note. The carrying amounts in the following tables are recorded on the Consolidated Balance Sheet under the indicated captions, except for accrued interest receivable, restricted equity securities, at cost, and mortgage servicing rights that are included in Other assets, and accrued interest payable which is included in Accrued expenses and other liabilities. These financial instruments are measured on an amortized cost basis on the Company’s Consolidated Balance Sheet.
December 31, 2025
($ in thousands)Carrying AmountLevel 1Level 2Level 3Estimated Fair Value
Financial assets:
Cash and cash equivalents$4,188,139 $4,188,139 $— $— $4,188,139 
Interest-bearing deposits with banks$16,189 $— $16,189 $— $16,189 
Resale agreements$425,000 $— $351,065 $— $351,065 
HTM debt securities$2,870,058 $524,887 $1,954,859 $— $2,479,746 
Restricted equity securities, at cost$153,484 $— $153,484 $— $153,484 
Loans held-for-sale$20,976 $— $20,976 $— $20,976 
Loans held-for-investment, net$56,068,399 $— $— $54,665,865 $54,665,865 
Mortgage servicing rights$4,119 $— $— $7,114 $7,114 
Accrued interest receivable$315,669 $— $315,669 $— $315,669 
Financial liabilities:
Demand, checking, savings and money market deposits$41,797,887 $— $41,797,887 $— $41,797,887 
Time deposits$25,284,814 $— $25,285,076 $— $25,285,076 
FHLB advances$3,000,000 $— $3,001,878 $— $3,001,878 
Long-term debt$32,320 $— $32,070 $— $32,070 
Accrued interest payable$60,513 $— $60,513 $— $60,513 
December 31, 2024
($ in thousands)Carrying AmountLevel 1Level 2Level 3Estimated Fair Value
Financial assets:
Cash and cash equivalents$5,250,742 $5,250,742 $— $— $5,250,742 
Interest-bearing deposits with banks$48,198 $— $48,198 $— $48,198 
Resale agreements$425,000 $— $329,769 $— $329,769 
HTM debt securities$2,917,413 $499,858 $1,887,896 $— $2,387,754 
Restricted equity securities, at cost$165,259 $— $165,259 $— $165,259 
Loans held-for-investment, net$53,024,585 $— $— $51,328,254 $51,328,254 
Mortgage servicing rights$5,234 $— $— $8,822 $8,822 
Accrued interest receivable$316,392 $— $316,392 $— $316,392 
Financial liabilities:
Demand, checking, savings and money market deposits$39,959,251 $— $39,959,251 $— $39,959,251 
Time deposits$23,215,772 $— $23,225,317 $— $23,225,317 
FHLB advances$3,500,000 $— $3,497,953 $— $3,497,953 
Long-term debt$32,001 $— $31,246 $— $31,246 
Accrued interest payable$61,950 $— $61,950 $— $61,950 
v3.25.4
Securities Purchased under Resale Agreements
 12 Months Ended
Dec. 31, 2025
Resale And Repurchase Agreements [Abstract]  
Securities Purchased under Resale Agreements Securities Purchased under Resale Agreements
The Company’s resale agreements expose it to credit risk from both the counterparties and the underlying collateral. The Company manages credit exposure from certain transactions by entering into master netting agreements and collateral arrangements with the counterparties. The relevant agreements allow for an efficient closeout of the transaction, liquidation and set-off of collateral against the net amount owed by the counterparty following a default. It is the Company’s policy to take possession, where possible, of the collateral underlying resale agreements. As a result of the Company’s credit risk mitigation practices with respect to resale agreements as described above, the Company did not hold any reserves for credit impairment with respect to these agreements as of both December 31, 2025 and 2024. Gross securities purchased under resale agreements were $425 million as of both December 31, 2025 and 2024.

Balance Sheet Offsetting

The Company’s resale and repurchase agreements are transacted under legally enforceable master netting agreements that, in the event of default by the counterparty, provide the Company the right to liquidate securities held and to offset receivables and payables with the same counterparty. The Company nets resale and repurchase transactions with the same counterparty on the Consolidated Balance Sheet when it has a legally enforceable master netting agreement and the transactions are eligible for netting under ASC 210-20-45-11, Balance Sheet Offsetting: Repurchase and Reverse Repurchase Agreements. Collateral received includes securities and loans that are not recognized on the Consolidated Balance Sheet. Collateral pledged consists of securities that are not netted on the Consolidated Balance Sheet against the related collateralized liability. Securities received or pledged as collateral in resale and repurchase agreements with other financial institutions may also be sold or re-pledged by the secured party, and are usually delivered to and held by third-party trustees.

The following table presents the resale agreements included on the Consolidated Balance Sheet as of December 31, 2025 and 2024:
Gross Amounts Not Offset on the Consolidated Balance Sheet
($ in thousands)Gross Amounts of Recognized AssetsGross Amounts Offset on the Consolidated Balance SheetNet Amounts of Assets Presented on the Consolidated Balance Sheet
Collateral Received (1)
Net Amount
Resale agreements as of December 31, 2025
$425,000 $— $425,000 $(350,953)$74,047 
Resale agreements as of December 31, 2024
$425,000 $— $425,000 $(329,603)$95,397 
(1)Represents the fair value of collateral the Company has received under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.

In addition to the amounts included in the table above, the Company also has balance sheet netting related to derivatives. Refer to Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K for additional information.
v3.25.4
Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
The following tables present the amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value by major categories of AFS and HTM debt securities as of December 31, 2025 and 2024:
December 31, 2025
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
AFS debt securities:
U.S. Treasury securities$1,010,053 $837 $(16,977)$— $993,913 
U.S. government agency and U.S. government-sponsored enterprise debt securities287,687 — (30,033)— 257,654 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities292,564 86 (27,312)— 265,338 
Residential mortgage-backed securities10,251,714 68,588 (187,649)— 10,132,653 
Municipal securities
277,275 20 (34,193)— 243,102 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities214,987 — (22,139)(1,900)190,948 
Residential mortgage-backed securities452,208 — (58,421)— 393,787 
Corporate debt securities554,158 6 (89,183)— 464,981 
Foreign government bonds247,249 437 (9,231)— 238,455 
Asset-backed securities31,886 — (497)— 31,389 
Total AFS debt securities13,619,781 69,974 (475,635)(1,900)13,212,220 
HTM debt securities
U.S. Treasury securities540,666 — (15,779)— 524,887 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,007,055 — (146,921)— 860,134 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities474,747 — (69,471)— 405,276 
Residential mortgage-backed securities662,127 — (124,176)— 537,951 
Municipal securities185,463 — (33,965)— 151,498 
Total HTM debt securities2,870,058 — (390,312)— 2,479,746 
Total debt securities$16,489,839 $69,974 $(865,947)$(1,900)$15,691,966 
December 31, 2024
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesFair Value
AFS debt securities:
U.S. Treasury securities$676,300 $— $(38,035)$638,265 
U.S. government agency and U.S. government-sponsored enterprise debt securities308,220 — (45,633)262,587 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities472,535 886 (47,207)426,214 
Residential mortgage-backed securities7,974,768 12,278 (248,786)7,738,260 
Municipal securities287,301 38 (37,186)250,153 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities294,235 2 (35,767)258,470 
Residential mortgage-backed securities514,527 — 

(80,919)433,608 
Corporate debt securities653,500 — (127,334)526,166 
Foreign government bonds244,803 2,069 (12,992)233,880 
Asset-backed securities35,086 — (371)34,715 
CLOs44,500 — (7)44,493 
Total AFS debt securities11,505,775 15,273 (674,237)10,846,811 
HTM debt securities:
U.S. Treasury securities535,080 — (35,222)499,858 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,004,479 — (200,259)804,220 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities486,388 — (91,461)394,927 
Residential mortgage-backed securities703,833 — (155,626)548,207 
Municipal securities187,633 — (47,091)140,542 
Total HTM debt securities2,917,413 — (529,659)2,387,754 
Total debt securities$14,423,188 $15,273 $(1,203,896)$13,234,565 
(1)Amortized cost excludes accrued interest receivables, which are included in Other assets on the Consolidated Balance Sheet. As of December 31, 2025 and 2024, the accrued interest receivables were $54 million and $45 million, respectively. For the Company’s accounting policy related to debt securities’ accrued interest receivables, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Allowance for Credit Losses on Available-for-Sale Debt Securities and Allowance for Credit Losses on Held-to-Maturity Debt Securities to the Consolidated Financial Statements in this Form 10-K.
(2)Includes GNMA AFS debt securities totaling $9.6 billion of both amortized cost and fair value as of December 31, 2025, and $7.3 billion of amortized cost and $7.2 billion of fair value as of December 31, 2024.
(3)Includes GNMA HTM debt securities totaling $79 million of amortized cost and $65 million of fair value as of December 31, 2025, and $86 million of amortized cost and $68 million of fair value as of December 31, 2024.
Unrealized Losses of Available-for-Sale Debt Securities

The following tables present the fair value and the associated gross unrealized losses of the Company’s AFS debt securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position, as of December 31, 2025 and 2024:
December 31, 2025
Less Than 12 Months12 Months or MoreTotal
($ in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
AFS debt securities:
U.S. Treasury securities$323,019 $(1,627)$575,638 $(15,350)$898,657 $(16,977)
U.S. government agency and U.S. government-sponsored enterprise debt securities— — 257,654 (30,033)257,654 (30,033)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— — 256,503 (27,312)256,503 (27,312)
Residential mortgage-backed securities1,052,833 (5,480)1,582,952 (182,169)2,635,785 (187,649)
Municipal securities— — 237,214 (34,193)237,214 (34,193)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— — 190,948 (22,139)190,948 (22,139)
Residential mortgage-backed securities— — 393,787 (58,421)393,787 (58,421)
Corporate debt securities— — 454,975 (89,183)454,975 (89,183)
Foreign government bonds— — 90,769 (9,231)90,769 (9,231)
Asset-backed securities— — 31,389 (497)31,389 (497)
Total AFS debt securities$1,375,852 $(7,107)$4,071,829 $(468,528)$5,447,681 $(475,635)
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
($ in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
AFS debt securities:
U.S. Treasury securities$— $— $638,265 $(38,035)$638,265 $(38,035)
U.S. government agency and U.S. government-sponsored enterprise debt securities— — 262,587 (45,633)262,587 (45,633)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities2,741 (30)377,756 (47,177)380,497 (47,207)
Residential mortgage-backed securities2,719,228 (16,404)1,528,252 (232,382)4,247,480 (248,786)
Municipal securities2,763 (95)245,360 (37,091)248,123 (37,186)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities10,767 (332)235,668 (35,435)246,435 (35,767)
Residential mortgage-backed securities— — 433,608 (80,919)433,608 (80,919)
Corporate debt securities— — 526,166 (127,334)526,166 (127,334)
Foreign government bonds— — 87,008 (12,992)87,008 (12,992)
Asset-backed securities— — 34,715 (371)34,715 (371)
CLOs— — 44,493 (7)44,493 (7)
Total AFS debt securities$2,735,499 $(16,861)$4,413,878 $(657,376)$7,149,377 $(674,237)
As of December 31, 2025, the Company had 429 AFS debt securities in a gross unrealized loss position, primarily consisting of 222 U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities, 47 corporate debt securities, and 66 non-agency mortgage-backed securities. In comparison, as of December 31, 2024, the Company had 541 AFS debt securities in a gross unrealized loss position, primarily consisting of 290 U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities, 66 corporate debt securities, and 83 non-agency mortgage-backed securities.

Allowance for Credit Losses on Available-for-Sale Debt Securities

The Company evaluates each AFS debt security where the fair value declines below amortized cost. For a discussion of the factors and criteria the Company uses in analyzing securities for impairment related to credit losses, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Allowance for Credit Losses on Available-for-Sale Debt Securities to the Consolidated Financial Statements in this Form 10-K.

The gross unrealized losses presented in the preceding tables were primarily attributable to interest rate movement and the widening of liquidity and/or credit spreads. U.S. Treasury, U.S. government agency, U.S. government-sponsored agency, and U.S. government-sponsored enterprise debt and mortgage-backed securities are issued, guaranteed, or otherwise supported by the U.S. government and have a zero credit loss assumption. The remaining securities that were in an unrealized loss position as of December 31, 2025 were mainly comprised of the following:
•Corporate debt securities — The market value movement as of December 31, 2025 was primarily due to interest rate movement and spread change. A portion of the corporate debt securities is comprised of subordinated debt securities issued by U.S. banks. These securities are nearly all rated investment grade by NRSROs and issued by well-capitalized financial institutions with strong profitability. The contractual payments from these corporate debt securities have been and are expected to be received on time. The Company will continue to monitor the market developments in the banking sector and the credit performance of these securities.
•Non-agency mortgage-backed securities — The market value movement for the majority of these securities as of December 31, 2025 was primarily due to interest rate movement and spread change. In contrast, one non-agency commercial mortgage-backed security experienced a deterioration in both its credit rating and expected cash flows, resulting in its fair value falling below its amortized cost. Consequently, a credit-related impairment of $2 million was recognized through allowance for credit losses as of December 31, 2025. For the remaining non-agency mortgage-backed securities, a substantial majority are rated investment grade by NRSROs or have high priority in the cash flow waterfall within the securitization structure, and the contractual payments have been on time. Accordingly, the Company believes the risk of credit losses on the remaining securities is low.

As of both December 31, 2025 and 2024, the Company intended to hold the AFS debt securities with unrealized losses through the anticipated recovery period and it was more-likely-than-not that the Company would not have to sell these securities before the recovery of their amortized cost. The issuers of these securities have not, to the Company’s knowledge, established any cause for default on these securities. As a result, the Company expects to recover the entire amortized cost basis of these securities.

The Company recorded $2 million in allowance for credit losses related to a non-agency commercial mortgage-backed security as of December 31, 2025, which was recognized as a provision for credit losses, compared with no allowance for credit losses provided against these securities as of 2024. In addition, there was no provision for credit losses recognized for both the years ended December 31, 2024 and 2023.

Allowance for Credit Losses on Held-to-Maturity Debt Securities

The Company separately evaluates its HTM debt securities for any credit losses using an expected loss model, similar to the methodology used for loans. For additional information on the Company’s credit loss methodology, refer to Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Allowance for Credit Losses on Held-to-Maturity Debt Securities to the Consolidated Financial Statements in this Form 10-K.
The Company monitors the credit quality of the HTM debt securities using external credit ratings. As of December 31, 2025, all HTM securities were rated investment grade by NRSROs and issued, guaranteed, or supported by U.S. government entities and agencies. Accordingly, the Company applied a zero credit loss assumption and no allowance for credit losses was recorded as of December 31, 2025 and 2024. Overall, the Company believes that the credit support levels of the debt securities are strong and, based on current assessments and macroeconomic forecasts, expects that full contractual cash flows will be received.

Realized Gains and Credit Losses

The following table presents the gross realized gains from the sales of AFS debt securities (pre-tax), credit losses, the impairment write-off of AFS debt securities, and the related tax (benefit) expense included in earnings for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Gross realized gains from sales (1)
$963 $2,069 $3,138 
Credit losses$(1,900)$— $— 
Impairment write-off (1)
$— $— $(10,000)
Related tax (benefit) expense
$(277)$612 $(2,029)
(1)During 2023, the Company recognized $7 million in net losses on AFS securities as a component of Noninterest income in the Company’s Consolidated Statement of Income, consisting of a $10 million impairment write-off on a subordinated debt security, partially offset by a $3 million gain on the sale of the same security.

Interest Income

The following table presents the composition of interest income on debt securities for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Taxable interest$607,311 $429,003 $255,475 
Nontaxable interest14,626 20,062 20,715 
Total interest income on debt securities$621,937 $449,065 $276,190 
Contractual Maturities of Available-for-Sale and Held-to-Maturity Debt Securities

The following tables present the contractual maturities, amortized cost, fair value and weighted-average yields of AFS and HTM debt securities as of December 31, 2025. Expected maturities will differ from contractual maturities on certain securities as the issuers and borrowers of the underlying collateral may have the right to call or prepay obligations with or without prepayment penalties.
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten Years After Ten Years Total
AFS debt securities:
U.S. Treasury securities
Amortized cost$440,969 $472,570 $96,514 $— $1,010,053 
Fair value432,148 465,270 96,495 — 993,913 
Weighted-average yield (1)
1.11%2.75%3.84%—%2.14%
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost— 26,677 203,514 57,496 287,687 
Fair value— 26,256 182,396 49,002 257,654 
Weighted-average yield (1)
—%1.58%2.07%2.16%2.04%
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities
Amortized cost— 53,961 98,540 10,391,777 10,544,278 
Fair value— 52,339 91,020 10,254,632 10,397,991 
Weighted-average yield (1) (2)
—%2.82%2.83%4.79%4.76%
Municipal securities
Amortized cost7,300 19,206 22,614 228,155 277,275 
Fair value7,219 18,679 19,438 197,766 243,102 
Weighted-average yield (1) (2)
1.15%2.50%2.40%2.26%2.26%
Non-agency mortgage-backed securities
Amortized cost— 1,324 — 665,871 667,195 
Fair value— 1,320 — 583,415 584,735 
Weighted-average yield (1)
—%3.35%—%2.28%2.28%
Corporate debt securities
Amortized cost15,158 26,500 437,500 75,000 554,158 
Fair value15,116 26,204 361,829 61,832 464,981 
Weighted-average yield (1)
4.07%5.23%2.38%2.09%2.53%
Foreign government bonds
Amortized cost118,665 28,584 50,000 50,000 247,249 
Fair value118,935 28,751 49,904 40,865 238,455 
Weighted-average yield (1)
2.31%1.81%4.34%1.50%2.50%
Asset-backed securities
Amortized cost— — — 31,886 31,886 
Fair value— — — 31,389 31,389 
Weighted-average yield (1)
—%—%—%4.65%4.65%
Total AFS debt securities
Amortized cost$582,092 $628,822 $908,682 $11,500,185 $13,619,781 
Fair value$573,418 $618,819 $801,082 $11,218,901 $13,212,220 
Weighted-average yield (1)
1.44%2.76%2.63%4.55%4.21%
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten YearsAfter Ten YearsTotal
HTM debt securities:
U.S. Treasury securities
Amortized cost$—$540,666$—$—$540,666
Fair value—524,887——524,887
Weighted-average yield (1)
—%1.05%—%—%1.05%
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost—105,467556,098345,4901,007,055
Fair value—97,497479,123283,514860,134
Weighted-average yield (1)
—%1.37%1.91%2.04%1.90%
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities
Amortized cost—48,732178,114910,0281,136,874
Fair value—45,124153,739744,364943,227
Weighted-average yield (1) (2)
—%1.48%1.81%1.67%1.68%
Municipal securities
Amortized cost——13,958171,505185,463
Fair value——12,638138,860151,498
Weighted-average yield (1) (2)
—%—%2.35%1.99%2.02%
Total HTM debt securities
Amortized cost$—$694,865$748,170$1,427,023$2,870,058
Fair value$—$667,508$645,500$1,166,738$2,479,746
Weighted-average yield (1)
—%1.13%1.89%1.79%1.66%
(1)Weighted-average yields are computed based on amortized cost balances.
(2)Yields on tax-exempt securities are not presented on a tax-equivalent basis.

As of December 31, 2025 and 2024, AFS and HTM debt securities with carrying values of $4.6 billion and $5.4 billion, respectively, were pledged to secure borrowings and for other purposes required or permitted by law. As of December 31, 2025, $4.6 billion of AFS and HTM debt securities were prepositioned for the FRB Standing Repurchase Agreement Facility.

Restricted Equity Securities

The following table presents the restricted equity securities included in Other assets on the Consolidated Balance Sheet as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
FRB of San Francisco stock
$66,179 $63,930 
FHLB stock87,305 101,329 
Total restricted equity securities$153,484 $165,259 
v3.25.4
Derivatives
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
The Company uses derivative instruments to manage exposure to market risk, primarily interest rate and foreign currency risks, as well as to assist customers with their risk management objectives. The Company’s goal is to manage interest rate sensitivity and volatility to mitigate the effect of interest rate changes on earnings or capital. The Company also uses foreign exchange contracts to manage the foreign exchange rate risk associated with certain foreign currency-denominated assets and liabilities, the funding needs, as well as the Bank’s investment in EWCN. The Company recognizes all derivatives on the Consolidated Balance Sheet at fair value. While the Company designates certain derivatives as hedging instruments in a qualifying hedge accounting relationship, other derivatives serve as economic hedges. For additional information on the Company’s derivatives and hedging activities, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Derivatives to the Consolidated Financial Statements in this Form 10-K.

The following table presents the notional amounts and fair values of the Company’s derivatives as of December 31, 2025 and 2024. Certain derivative contracts are cleared through central clearing organizations where variation margin is applied daily as settlement to the fair values of the contracts. The fair values are presented on a gross basis prior to the application of bilateral collateral and master netting agreements, but after the application of variation margin payments as settlement to fair values of contracts cleared through central clearing organizations. Applying variation margin payments as settlement to the fair values of derivative contracts cleared through the London Clearing House (“LCH”) and the Chicago Mercantile Exchange (“CME”) resulted in reductions in the derivative asset and liability fair values of $16 million and $3 million, respectively, as of December 31, 2025. In comparison, applying variation margin payments as settlement to LCH- and CME-cleared derivative transactions resulted in reductions in the derivative asset and liability fair values of $17 million and $15 million, respectively, as of December 31, 2024. Total gross derivative asset and liability fair values are then adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid. The resulting net derivative asset and liability fair values are included in Other assets and Accrued expenses and other liabilities, respectively, on the Consolidated Balance Sheet.
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate contracts$4,250,000 $39,997 $139 $5,250,000 $5,647 $35,211 
Derivatives not designated as hedging instruments:
Interest rate contracts$18,987,277 $258,561 $256,731 $17,005,381 $379,664 $378,961 
Commodity contracts (1)
— 66,022 72,158 — 48,499 45,328 
Foreign exchange contracts4,550,101 44,340 43,160 5,201,460 89,083 71,254 
Credit contracts (2)
303,421 25 51 168,999 1 12 
Equity contracts— 522 (3)13,734 (4)— 239 (3)15,119 (4)
Total derivatives not designated as hedging instruments$23,840,799 $369,470 $385,834 $22,375,840 $517,486 $510,674 
Gross derivative assets/liabilities$409,467 $385,973 $523,133 $545,885 
Less: Master netting agreements(74,138)(74,138)(111,124)(111,124)
Less: Cash collateral received/paid(183,387)(27,502)(316,168)(1,160)
Net derivative assets/liabilities$151,942 $284,333 $95,841 $433,601 
(1)The notional amount of the Company’s commodity contracts totaled 16 million barrels of crude oil and 364 million units of natural gas, measured in million British thermal units (“MMBTUs”) as of December 31, 2025. In comparison, the notional amount of the Company’s commodity contracts totaled 21 million barrels of crude oil and 407 million MMBTUs of natural gas as of December 31, 2024.
(2)The notional amount for the credit contracts reflects the Company’s pro-rata share of the notional amount in the underlying derivative instruments in RPAs.
(3)The Company held warrant equity contracts in nine and eight private companies as of December 31, 2025 and 2024, respectively.
(4)Equity contracts classified as derivative liabilities consist of 349 thousand performance-based RSUs granted as part of EWBC’s consideration in an investment.
Derivatives Designated as Hedging Instruments

Cash Flow Hedges — The Company uses interest rate swaps and collars to hedge the variability in the interest amount received on certain floating-rate commercial loans due to changes in the contractually specified interest rates. As of December 31, 2025, interest rate contracts in notional amounts of $4.3 billion were designated as cash flow hedges to convert certain variable-rate loans from floating-rate payments to fixed-rate payments. Gains and losses on the hedging derivative instruments are recognized in AOCI and reclassified to earnings in the same period the hedged cash flows impact earnings and are recorded within the same income statement line item as the hedged cash flows. Considering the interest rates, yield curve and notional amount as of December 31, 2025, the Company expects to reclassify an estimated $8 million of after-tax net gains on derivative instruments designated as cash flow hedges from AOCI into earnings during the next 12 months.

The following table presents the pre-tax changes in AOCI from cash flow hedges for the years ended December 31, 2025, 2024 and 2023. The after-tax impact of cash flow hedges on AOCI is shown in Note 15 — Accumulated Other Comprehensive (Loss) Income to the Consolidated Financial Statements in this Form 10-K.
Year Ended December 31,
($ in thousands)202520242023
Gains (losses) recognized in AOCI:
Interest rate contracts
$48,016 $(124,382)$(5,767)
Losses (gains) reclassified from AOCI into earnings:
Interest expense (for cash flow hedges on borrowings)$— $— $(696)
Interest and dividend income (for cash flow hedges on loans)20,959 91,083 82,153 
Noninterest income— — (1,614)(1)
Total$20,959 $91,083 $79,843 
(1)Represents the amounts in AOCI reclassified into earnings resulting from forecasted cash flows that were no longer probable to occur.

Net Investment Hedges — The Company entered into foreign currency forward contracts to hedge a portion of the Bank’s investment in EWCN, a non-USD functional currency subsidiary in China. The hedging instruments designated as net investment hedges were used to hedge against the risk of adverse changes in the foreign currency exchange rate of the Chinese Renminbi. There was no active net investment hedge during the year ended December 31, 2025. The following table presents the pre-tax gains recognized in AOCI on net investment hedges for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Gains recognized in AOCI
$— $586 $2,571 

Derivatives Not Designated as Hedging Instruments

Customer-Related Positions and Economic Hedge Derivatives — The Company enters into interest rate, commodity, and foreign exchange derivatives at the request of its customers and generally enters into offsetting derivative contracts with third-party financial institutions to mitigate the inherent market risk. The Company also utilizes foreign exchange contracts to mitigate the effect of currency fluctuations on certain foreign currency-denominated on-balance sheet assets and liabilities, primarily foreign currency denominated deposits that it offers to its customers, as well as to meet its funding needs in certain foreign currencies. A majority of the foreign exchange contracts had original maturities of one year or less as of both December 31, 2025 and 2024.
The following table presents the notional amounts and the gross fair values of the interest rate and foreign exchange derivatives entered into with customers and with third-party financial institutions as economic hedges to customers’ positions as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
Customer-related positions:
Interest rate contracts:
Swaps$7,566,889 $47,448 $206,794 $6,854,372 $11,828 $361,256 
Written options1,463,110 — 1,900 1,458,428 — 4,953 
Collars and corridors444,604 311 20 181,039 80 440 
Subtotal9,474,603 47,759 208,714 8,493,839 11,908 366,649 
Foreign exchange contracts:
Forwards and spot1,156,203 23,661 2,831 996,486 11,693 24,201 
Swaps785,956 13,272 661 1,504,469 16,117 25,366 
Written options63,460 — 73 — — — 
Subtotal2,005,619 36,933 3,565 2,500,955 27,810 49,567 
Total$11,480,222 $84,692 $212,279 $10,994,794 $39,718 $416,216 
Economic hedges and other:
Interest rate contracts:
Swaps$7,604,959 $208,860 $47,682 $6,872,075 $362,323 $12,228 
Purchased options1,463,110 1,922 — 1,458,428 4,990 — 
Collars and corridors
444,605 20 335 181,039 443 84 
Subtotal9,512,674 210,802 48,017 8,511,542 367,756 12,312 
Foreign exchange contracts:
Forwards and spot234,278 1,602 3,498 86,750 2,318 1,738 
Swaps2,246,744 5,718 36,083 2,613,755 58,955 19,949 
Purchased options63,460 87 14 — — — 
Subtotal2,544,482 7,407 39,595 2,700,505 61,273 21,687 
Total$12,057,156 $218,209 $87,612 $11,212,047 $429,029 $33,999 
The Company enters into energy commodity contracts with its customers in the oil and gas sector, which allow them to hedge against the risk of fluctuation in energy commodity prices. Offsetting contracts entered with third-party financial institutions are used as economic hedges to manage the Company’s exposure on its customer-related positions. The following table presents the notional amounts in units and the gross fair values of the commodity derivatives issued for customer-related positions and economic hedges as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ and units in thousands)Notional UnitsAssetsLiabilitiesNotional UnitsAssetsLiabilities
Customer-related positions:
Commodity contracts:
Crude oil:
Swaps4,255 Barrels$205 $28,533 4,830 Barrels$4,682 $6,874 
Collars3,747 Barrels21 13,622 5,477 Barrels1,604 3,362 
Subtotal8,002 Barrels226 42,155 10,307 Barrels6,286 10,236 
Natural gas:
Swaps112,599 MMBTUs5,814 18,403 141,736 MMBTUs13,095 17,708 
Collars71,945 MMBTUs1,879 6,693 62,045 MMBTUs6,061 4,556 
Written options— MMBTUs— — 1,234 MMBTUs167 — 
Subtotal184,544 MMBTUs7,693 25,096 205,015 MMBTUs19,323 22,264 
Total$7,919 $67,251 $25,609 $32,500 
Economic hedges:
Commodity contracts:
Crude oil:
Swaps4,255 Barrels$25,309 $11 4,830 Barrels$4,479 $3,893 
Collars3,747 Barrels8,724 21 5,477 Barrels1,547 76 
Subtotal8,002 Barrels34,033 32 10,307 Barrels6,026 3,969 
Natural gas:
Swaps110,506 MMBTUs18,258 3,963 139,136 MMBTUs13,323 5,056 
Collars68,965 MMBTUs5,812 912 61,341 MMBTUs3,541 3,650 
Purchased options— MMBTUs— — 1,234 MMBTUs— 153 
Subtotal179,471 MMBTUs24,070 4,875 201,711 MMBTUs16,864 8,859 
Total$58,103 $4,907 $22,890 $12,828 

Credit Contracts — The Company periodically enters into credit RPAs with institutional counterparties to manage the credit exposure of the interest rate contracts associated with syndicated loans. Under the RPAs, a portion of the credit exposure is transferred from one party (the purchaser of credit protection) to another party (the seller of credit protection). The seller of credit protection is required to make payments to the purchaser of credit protection if the underlying borrower defaults on the related interest rate contract. The Company may enter into protection sold or protection purchased RPAs. Credit risk on RPAs is managed by monitoring the credit worthiness of the borrowers and the institutional counterparties, which is a part of the Company’s normal credit review and monitoring process. Assuming the underlying borrowers referenced in the interest rate contracts defaulted, the maximum exposure in the credit protection sold RPAs would be $590 thousand and $170 thousand as of December 31, 2025 and 2024, respectively.
The following table presents the notional amounts and the gross fair values of RPAs sold and purchased outstanding as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
RPAs — protection sold (1)
$133,756 $— $51 $133,174 $— $12 
RPAs — protection purchased
169,665 25 — 35,825 1 — 
Total RPAs$303,421 $25 $51 $168,999 $1 $12 
(1)All reference entities of the protection sold RPAs were investment grade. The weighted-average remaining maturities were 2.7 years and 1.6 years as of December 31, 2025 and 2024, respectively.

Equity Contracts — As part of the loan origination process, the Company may obtain warrants to purchase the preferred and/or common stock of its borrowers’ companies, which are mainly in the technology and life sciences sectors. Warrants grant the Company the right to buy a certain class of the underlying company’s equity at a certain price before expiration. In connection with an investment the Company made during the third quarter of 2023, the Company granted performance-based RSUs as part of its consideration. The vesting of these equity contracts is contingent on the investee meeting certain financial performance targets during the future performance period. For additional information on these equity contracts, refer to Note 2 — Fair Value Measurement and Fair Value of Financial Instruments to the Consolidated Financial Statements in this Form 10-K.

The following table presents the net gains (losses) due to fair value changes that are recognized on the Company’s Consolidated Statement of Income related to derivatives not designated as hedging instruments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)Classification on Consolidated Statement of Income202520242023
Derivatives not designated as hedging instruments:
Interest rate contractsCustomer derivative income, net of mark-to-market adjustments$(3,142)$549 $(2,989)
Foreign exchange contractsForeign exchange income52,295 54,073 52,817 
Credit contractsCustomer derivative income, net of mark-to-market adjustments(15)— (1)
Equity contracts - warrantsLending and loan servicing fees283 (97)13 
Equity contracts - performance-based RSUs
Other investment income
1,385 — — 
Commodity contractsCustomer derivative income, net of mark-to-market adjustments960 929 (25)
Net gains$51,766 $55,454 $49,815 

Credit-Risk-Related Contingent Features — Certain of the Company’s over-the-counter derivative contracts contain early termination provisions that require the Company to settle any outstanding balances upon the occurrence of a specified credit-risk-related event. Such an event primarily relates to a downgrade of the credit rating of East West Bank to below investment grade. As of December 31, 2025, the aggregate fair value amounts of all derivative instruments with credit risk-related contingent features that were in a net liability position totaled $3 million, for which $3 million collateral was posted to cover these positions. In comparison, as of December 31, 2024, the aggregate fair value amounts of all derivative instruments with credit risk-related contingent features that were in a net liability position totaled $1 million, for which $1 million collateral was posted to cover these positions. In the event that the credit rating of East West Bank had been downgraded to below investment grade, the Company would have been required to post minimal additional collateral as of both December 31, 2025 and 2024.
Offsetting of Derivatives

The following tables present the gross derivative fair values, the balance sheet netting adjustments, and the resulting net fair values recorded on the Consolidated Balance Sheet, as well as the cash and noncash collateral associated with master netting arrangements. The gross fair values of derivative assets and liabilities are presented after the application of variation margin payments as settlements to the fair values of contracts cleared through central clearing organizations, where applicable. The collateral amounts in the following tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of over-collateralization are not shown:
($ in thousands)As of December 31, 2025
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (1)
Master Netting Arrangements
Cash Collateral Received (3)
Security Collateral Received (5)
Net Amount
Derivative assets$409,467 $(74,138)$(183,387)

$151,942 $(42,779)

$109,163 
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (2)
Master Netting Arrangements
Cash Collateral Pledged (4)
Security Collateral Pledged (5)
Net Amount
Derivative liabilities$385,973 $(74,138)$(27,502)

$284,333 $— 

$284,333 
($ in thousands)As of December 31, 2024
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (1)
Master Netting Arrangements
Cash Collateral Received (3)
Security Collateral Received (5)
Net Amount
Derivative assets$523,133 $(111,124)$(316,168)$95,841 $(55,222)$40,619 
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance Sheet
Gross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (2)
Master Netting Arrangements
Cash Collateral Pledged (4)
Security Collateral Pledged (5)
Net Amount
Derivative liabilities$545,885 $(111,124)$(1,160)$433,601 $— $433,601 
(1)Includes $9 million and $4 million of gross fair value assets with counterparties that were not subject to enforceable master netting arrangements or similar agreements as of December 31, 2025 and 2024, respectively.
(2)Includes $16 million and $27 million of gross fair value liabilities with counterparties that were not subject to enforceable master netting arrangements or similar agreements as of December 31, 2025 and 2024, respectively.
(3)Gross cash collateral received under master netting arrangements or similar agreements were $184 million and $322 million as of December 31, 2025 and 2024, respectively. Of the gross cash collateral received, $183 million and $316 million were used to offset against derivative assets as of December 31, 2025 and 2024, respectively.
(4)Gross cash collateral pledged under master netting arrangements or similar agreements were $29 million and $1 million as of December 31, 2025 and 2024, respectively. Of the gross cash collateral pledged, $28 million and $1 million were used to offset against derivative liabilities as of December 31, 2025 and 2024, respectively.
(5)Represents the fair value of security collateral received or pledged limited to derivative assets or liabilities that are subject to enforceable master netting arrangements or similar agreements. U.S. GAAP does not permit the netting of noncash collateral on the Consolidated Balance Sheet but requires the disclosure of such amounts.

In addition to the amounts included in the tables above, the Company may have balance sheet netting related to resale agreements. Refer to Note 3 — Securities Purchased under Resale Agreements to the Consolidated Financial Statements in this Form 10-K for additional information. Refer to Note 2 — Fair Value Measurement and Fair Value of Financial Instruments to the Consolidated Financial Statements in this Form 10-K for fair value measurement disclosures on derivatives.
v3.25.4
Loans Receivable and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans Receivable and Allowance for Credit Losses Loans Receivable and Allowance for Credit Losses
The following table presents the composition of the Company’s loans held-for-investment outstanding as of December 31, 2025 and 2024:
($ in thousands)December 31, 2025December 31, 2024
Commercial:
C&I$18,650,755 $17,397,158 
CRE:
CRE15,407,088 14,655,340 
Multifamily residential5,112,328 4,953,442 
Construction and land742,357 666,162 
Total CRE21,261,773 20,274,944 
Total commercial39,912,528 37,672,102 
Consumer:
Residential mortgage:
Single-family residential15,002,549 14,175,446 
HELOCs1,911,897 1,811,628 
Total residential mortgage16,914,446 15,987,074 
Other consumer51,198 67,461 
Total consumer16,965,644 16,054,535 
Total loans held-for-investment (1)
$56,878,172 $53,726,637 
ALLL(809,773)(702,052)
Loans held-for-investment, net (1)
$56,068,399 $53,024,585 
(1)Includes $26 million and $46 million of net deferred loan fees and net unamortized premiums as of December 31, 2025 and 2024, respectively.

Accrued interest receivable on loans held-for-investment was $251 million and $255 million as of December 31, 2025 and 2024, respectively, and was included in Other assets on the Consolidated Balance Sheet. The interest income recognized and reversed on nonaccrual loans was $7 million and $5 million, respectively, for the year ended December 31, 2025, compared with immaterial amounts for each of the years ended December 31, 2024 and 2023. For the Company’s accounting policy on accrued interest receivable related to loans held-for-investment, see Note 1 — Summary of Significant Accounting Policies — Loans Held-for-Investment to the Consolidated Financial Statements in this Form 10-K. The Company also has loans held-for-sale. For the Company’s accounting policy on loans held-for-sale, refer to Note 1 — Summary of Significant Accounting Policies — Loans Held-for-Sale to the Consolidated Financial Statements in this Form 10-K.

The Company’s FRB and FHLB borrowings are primarily secured by loans held-for-investment. Loans held-for-investment totaling $41.8 billion and $38.2 billion, respectively, were pledged to secure borrowings and provide additional borrowing capacity as of December 31, 2025 and 2024.

Credit Quality Indicators

All loans are subject to the Company’s credit review and monitoring process. For the commercial loan portfolio, loans are risk rated based on an analysis of the borrower’s current payment performance or delinquency, repayment sources, financial and liquidity factors, including industry and geographic considerations. For the consumer loan portfolio, payment performance or delinquency is typically the driving indicator for risk ratings.

The Company utilizes internal credit risk ratings to assign each individual loan a risk rating of 1 through 10:

•Pass — loans risk rated 1 through 5 are assigned an internal risk rating category of “Pass.” Loans risk rated 1 are typically loans fully secured by cash. Pass loans have sufficient sources of repayment to repay the loan in full, in accordance with all terms and conditions.
•Special mention — loans assigned a risk rating of 6 have potential weaknesses that warrant closer attention by management; these are assigned an internal risk rating category of “Special Mention.”
•Substandard — loans assigned a risk rating of 7 or 8 have well-defined weaknesses that may jeopardize the full and timely repayment of the loan; these are assigned an internal risk rating category of “Substandard.”
•Doubtful — loans assigned a risk rating of 9 have insufficient sources of repayment and a high probability of loss; these are assigned an internal risk rating category of “Doubtful.”
•Loss — loans assigned a risk rating of 10 are uncollectible and of such little value that they are no longer considered bankable assets; these are assigned an internal risk rating category of “Loss.”

Loan exposures categorized as criticized consist of special mention, substandard, doubtful and loss categories. The Company reviews the internal risk ratings of its loan portfolio on a regular basis, and adjusts the ratings based on changes in the borrowers’ financial status and the collectability of the loans.

The following tables summarize the Company’s loans held-for-investment and year-to-date gross write-offs by loan portfolio segments, internal risk ratings and vintage year as of December 31, 2025 and 2024. The vintage year is the year of loan origination, renewal or major modification. Revolving loans that are converted to term loans presented in the tables below are excluded from the term loans by vintage year columns.
December 31, 2025
Term Loans by Origination Year
($ in thousands)20252024202320222021PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$3,013,368 $1,717,361 $880,267 $536,461 $391,413 $302,893 $11,308,551 $67,968 $18,218,282 
Criticized (accrual)572 35,223 1,662 93,562 83,813 6,771 158,626 — 380,229 
Criticized (nonaccrual)
2,922 4,733 26,810 1,640 9,525 6,526 88 — 52,244 
Total C&I3,016,862 1,757,317 908,739 631,663 484,751 316,190 11,467,265 67,968 18,650,755 
Gross write-offs (2)
2,617 1,199 28,752 4,643 1,063 3,170 24 — 41,468 
CRE:
Pass2,615,789 1,562,420 2,015,433 3,188,363 1,708,927 3,607,918 78,712 47,512 14,825,074 
Criticized (accrual)30,275 29,807 116,862 134,018 48,569 183,937 — — 543,468 
Criticized (nonaccrual)
3,317 — 4,172 7,439 12,330 11,288 — — 38,546 
Subtotal CRE2,649,381 1,592,227 2,136,467 3,329,820 1,769,826 3,803,143 78,712 47,512 15,407,088 
Gross write-offs
8,932 — — 160 19 15,126 — — 24,237 
Multifamily residential:
Pass895,323 338,209 478,782 1,138,693 663,916 1,547,124 32,207 3,820 5,098,074 
Criticized (accrual)— — — 5,175 — 8,787 — — 13,962 
Criticized (nonaccrual)
— — — — — 292 — — 292 
Subtotal multifamily residential895,323 338,209 478,782 1,143,868 663,916 1,556,203 32,207 3,820 5,112,328 
Gross write-offs
— — — — — 8 — — 8 
Construction and land:
Pass246,380 109,799 247,482 90,086 13,437 3,462 3,901 — 714,547 
Criticized (nonaccrual)
— 8,897 — 18,913 — — — — 27,810 
Subtotal construction and land246,380 118,696 247,482 108,999 13,437 3,462 3,901 — 742,357 
Total CRE3,791,084 2,049,132 2,862,731 4,582,687 2,447,179 5,362,808 114,820 51,332 21,261,773 
Total CRE gross write-offs (2)
8,932 — — 160 19 15,134 — — 24,245 
Total commercial$6,807,946 $3,806,449 $3,771,470 $5,214,350 $2,931,930 $5,678,998 $11,582,085 $119,300 $39,912,528 
Total commercial gross write-offs (2)
$11,549 $1,199 $28,752 $4,803 $1,082 $18,304 $24 $— $65,713 
December 31, 2025
Term Loans by Origination Year
($ in thousands)20252024202320222021PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (3)
$2,861,764 $1,837,821 $2,349,242 $2,808,694 $1,860,110 $3,228,996 $— $— $14,946,627 
Criticized (accrual)3,157 3,646 5,589 5,427 235 9,356 — — 27,410 
Criticized (nonaccrual) (3)
4,566 891 3,445 4,617 1,620 13,373 — — 28,512 
Subtotal single-family residential mortgage2,869,487 1,842,358 2,358,276 2,818,738 1,861,965 3,251,725 — — 15,002,549 
Gross write-offs (2)
— 14 — — — — — — 14 
HELOCs:
Pass13,652 4,796 4,740 5,258 11,233 22,213 1,750,894 70,577 1,883,363 
Criticized (accrual)1,879 — 97 140 287 526 6,784 1,654 11,367 
Criticized (nonaccrual)
1,288 13 379 2,610 1,232 7,033 — 4,612 17,167 
Subtotal HELOCs16,819 4,809 5,216 8,008 12,752 29,772 1,757,678 76,843 1,911,897 
Gross write-offs
— — — — — — — 6 6 
Total residential mortgage2,886,306 1,847,167 2,363,492 2,826,746 1,874,717 3,281,497 1,757,678 76,843 16,914,446 
Total residential mortgage gross write-offs (2)
— 14 — — — — — 6 20 
Other consumer:
Pass25,146 — — 4,635 129 5,570 15,576 — 51,056 
Criticized (nonaccrual)
— — 49 — — — 93 — 142 
Total other consumer25,146 — 49 4,635 129 5,570 15,669 — 51,198 
Total consumer$2,911,452 $1,847,167 $2,363,541 $2,831,381 $1,874,846 $3,287,067 $1,773,347 $76,843 $16,965,644 
Total consumer gross write-offs (2)
$—$14$—$—$—$—$—$6$20
Total loans held-for-investment:
Pass$9,671,422 $5,570,406 $5,975,946 $7,772,190 $4,649,165 $8,718,176 $13,189,841 $189,877 $55,737,023 
Criticized (accrual)35,883 68,676 124,210 238,322 132,904 209,377 165,410 1,654 976,436 
Criticized (nonaccrual)
12,093 14,534 34,855 35,219 24,707 38,512 181 4,612 164,713 
Total$9,719,398 $5,653,616 $6,135,011 $8,045,731 $4,806,776 $8,966,065 $13,355,432 $196,143 $56,878,172 
Total loans held-for-investment gross write-offs (2)
$11,549 $1,213 $28,752 $4,803 $1,082 $18,304 $24 $6 $65,733 
December 31, 2024
Term Loans by Origination Year
($ in thousands)20242023202220212020PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$2,605,928 $1,508,948 $999,586 $612,015 $243,528 $295,884 $10,574,404 $23,032 $16,863,325 
Criticized (accrual)34,412 51,415 61,041 107,355 10,538 31,160 151,747 — 447,668 
Criticized (nonaccrual)
3,822 29,181 20,273 10,666 3,225 9,135 9,863 — 86,165 
Total C&I2,644,162 1,589,544 1,080,900 730,036 257,291 336,179 10,736,014 23,032 17,397,158 
Gross write-offs (2)
20 47,963 14,848 11,119 1,568 3,012 27,099 — 105,629 
CRE:
Pass1,660,877 2,296,763 3,692,498 1,925,220 1,296,439 3,176,450 96,791 49,302 14,194,340 
Criticized (accrual)34,543 44,557 90,105 31,615 75,578 167,401 — 14,771 458,570 
Criticized (nonaccrual)— — — — 1,756 674 — — 2,430 
Subtotal CRE1,695,420 2,341,320 3,782,603 1,956,835 1,373,773 3,344,525 96,791 64,073 14,655,340 
Gross write-offs (2)
— — — — — 3 — — 3 
Multifamily residential:
Pass386,743 521,754 1,337,599 752,230 613,115 1,242,586 14,640 1,253 4,869,920 
Criticized (accrual)— — 43,997 32,042 — 2,911 — — 78,950 
Criticized (nonaccrual)— — — — — 4,572 — — 4,572 
Subtotal multifamily residential386,743 521,754 1,381,596 784,272 613,115 1,250,069 14,640 1,253 4,953,442 
Gross write-offs
— — — — — 10 — — 10 
Construction and land:
Pass90,926 328,803 184,792 41,932 — 8,393 — — 654,846 
Criticized (nonaccrual)— — 11,316 — — — — — 11,316 
Subtotal construction and land
90,926 328,803 196,108 41,932 — 8,393 — — 666,162 
Gross write-offs— — 2,289 — — — — — 2,289 
Total CRE2,173,089 3,191,877 5,360,307 2,783,039 1,986,888 4,602,987 111,431 65,326 20,274,944 
Total CRE gross write-offs (2)
— — 2,289 — — 13 — — 2,302 
Total commercial$4,817,251 $4,781,421 $6,441,207 $3,513,075 $2,244,179 $4,939,166 $10,847,445 $88,358 $37,672,102 
Total commercial gross write-offs (2)
$20 $47,963 $17,137 $11,119 $1,568 $3,025 $27,099 $— $107,931 
December 31, 2024
Term Loans by Origination Year
($ in thousands)20242023202220212020PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (3)
$2,360,674 $2,762,921 $3,074,668 $2,079,323 $1,407,031 $2,437,446 $— $— $14,122,063 
Criticized (accrual)4,175 3,409 750 5,810 1,548 6,069 — — 21,761 
Criticized (nonaccrual) (3)
2,716 9,673 1,929 2,035 2,404 12,865 — — 31,622 
Subtotal single-family residential mortgage2,367,565 2,776,003 3,077,347 2,087,168 1,410,983 2,456,380 — — 14,175,446 
Gross write-offs (2)
9 — — — — — — — 9 
HELOCs:
Pass7,453 3,288 4,071 3,236 7,570 8,152 1,648,337 99,488 1,781,595 
Criticized (accrual)1,436 — 1,420 — 135 2,064 2,338 594 7,987 
Criticized (nonaccrual)3,161 3,095 2,520 39 418 7,301 — 5,512 22,046 
Subtotal HELOCs12,050 6,383 8,011 3,275 8,123 17,517 1,650,675 105,594 1,811,628 
Gross write-offs (2)
— 10 — — — — — 5 15 
Total residential mortgage2,379,615 2,782,386 3,085,358 2,090,443 1,419,106 2,473,897 1,650,675 105,594 15,987,074 
Total residential mortgage gross write-offs (2)
9 10 — — — — — 5 24 
Other consumer:
Pass14,916 — 22,992 132 — 6,800 22,555 — 67,395 
Criticized (nonaccrual)— — — — — — 66 — 66 
Total other consumer14,916 — 22,992 132 — 6,800 22,621 — 67,461 
Gross write-offs (2)
— 3,000 — — — — 890 — 3,890 
Total consumer$2,394,531 $2,782,386 $3,108,350 $2,090,575 $1,419,106 $2,480,697 $1,673,296 $105,594 $16,054,535 
Total consumer gross write-offs (2)
$9 $3,010 $— $— $— $— $890 $5 $3,914 
Total loans held-for-investment:
Pass$7,127,517 $7,422,477 $9,316,206 $5,414,088 $3,567,683 $7,175,711 $12,356,727 $173,075 $52,553,484 
Criticized (accrual)74,566 99,381 197,313 176,822 87,799 209,605 154,085 15,365 1,014,936 
Criticized (nonaccrual)
9,699 41,949 36,038 12,740 7,803 34,547 9,929 5,512 158,217 
Total$7,211,782 $7,563,807 $9,549,557 $5,603,650 $3,663,285 $7,419,863 $12,520,741 $193,952 $53,726,637 
Total loans held-for-investment gross write-offs (2)
$29 $50,973 $17,137 $11,119 $1,568 $3,025 $27,989 $5 $111,845 
(1)During the year ended December 31, 2025, $53 million of total commercial loans, comprised of C&I revolving loans, were converted to term loans. In comparison, $7 million of total commercial loans, comprised of CRE and C&I revolving loans, and $29 million of total commercial loans, primarily comprised of CRE revolving loans, were converted to term loans during the years ended December 31, 2024 and 2023, respectively. During the years ended December 31, 2025, 2024 and 2023, respectively, $2 million, $22 million and $44 million of total consumer loans, comprised of HELOCs, were converted to term loans.
(2)Excludes gross write-offs associated with loans the Company sold or settled.
(3)As of each of December 31, 2025 and 2024, $1 million of nonaccrual loans whose payments were guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
Nonaccrual and Past Due Loans

Loans that are 90 or more days past due are generally placed on nonaccrual status unless the loan is well-collateralized and in the process of collection. Loans that are less than 90 days past due but have identified deficiencies, such as when the full collection of principal or interest becomes uncertain, are also placed on nonaccrual status. The following tables present the aging analysis of loans held-for-investment as of December 31, 2025 and 2024:
December 31, 2025
($ in thousands)Current Accruing LoansAccruing Loans 30-59 Days Past DueAccruing Loans 60-89 Days Past DueTotal Accruing Past Due LoansTotal Nonaccrual LoansTotal Loans
Commercial:
C&I$18,572,467 $25,962 $82 $26,044 $52,244 $18,650,755 
CRE:
CRE15,354,548 10,525 3,469 13,994 38,546 15,407,088 
Multifamily residential5,110,783 1,253 — 1,253 292 5,112,328 
Construction and land714,547 — — — 27,810 742,357 
Total CRE21,179,878 11,778 3,469 15,247 66,648 21,261,773 
Total commercial39,752,345 37,740 3,551 41,291 118,892 39,912,528 
Consumer:
Residential mortgage:
Single-family residential14,899,224 46,010 27,674 73,684 29,641 15,002,549 
HELOCs1,860,080 23,328 11,322 34,650 17,167 1,911,897 
Total residential mortgage16,759,304 69,338 38,996 108,334 46,808 16,914,446 
Other consumer50,979 56 21 77 142 51,198 
Total consumer16,810,283 69,394 39,017 108,411 46,950 16,965,644 
Total$56,562,628 $107,134 $42,568 $149,702 $165,842 $56,878,172 
December 31, 2024
($ in thousands)Current Accruing LoansAccruing Loans 30-59 Days Past DueAccruing Loans 60-89 Days Past DueTotal Accruing Past Due LoansTotal Nonaccrual LoansTotal Loans
Commercial:
C&I$17,288,138 $5,690 $17,165 $22,855 $86,165 $17,397,158 
CRE:
CRE14,647,270 3,755 1,885 5,640 2,430 14,655,340 
Multifamily residential4,947,939 653 278 931 4,572 4,953,442 
Construction and land653,919 927 — 927 11,316 666,162 
Total CRE20,249,128 5,335 2,163 7,498 18,318 20,274,944 
Total commercial37,537,266 11,025 19,328 30,353 104,483 37,672,102 
Consumer:
Residential mortgage:
Single-family residential14,088,086 32,841 22,096 54,937 32,423 14,175,446 
HELOCs1,770,218 11,396 7,968 19,364 22,046 1,811,628 
Total residential mortgage
15,858,304 44,237 30,064 74,301 54,469 15,987,074 
Other consumer67,288 92 15 107 66 67,461 
Total consumer15,925,592 44,329 30,079 74,408 54,535 16,054,535 
Total$53,462,858 $55,354 $49,407 $104,761 $159,018 $53,726,637 
The following table presents the amortized cost of loans on nonaccrual status for which there was no related ALLL as of December 31, 2025 and 2024. Nonaccrual loans may not have an allowance for credit losses if the loan balances are well secured by collateral values and there is no loss expectation.
($ in thousands)December 31, 2025December 31, 2024
Commercial:
C&I$21,723 $79,591 
CRE33,705 — 
Multifamily residential— 4,210 
Construction and land
27,810 11,316 
Total commercial83,238 95,117 
Consumer:
Single-family residential6,095 6,279 
HELOCs4,081 15,380 
Total consumer10,176 21,659 
Total nonaccrual loans with no related ALLL$93,414 $116,776 

Foreclosed Assets

The Company acquires assets from borrowers through loan restructurings, workouts, or foreclosures. Assets acquired may include real properties (e.g., real estate, land, and buildings) and commercial and personal properties. The Company recognizes foreclosed assets upon receiving assets in satisfaction of a loan (e.g., taking legal title or physical possession).

Foreclosed assets, consisting of OREO and other nonperforming assets, are included in Other assets on the Consolidated Balance Sheet. The Company had $21 million of foreclosed assets as of December 31, 2025, compared with $35 million as of December 31, 2024. The Company commences the foreclosure process on consumer mortgage loans after a borrower becomes more than 120 days delinquent in accordance with the Consumer Financial Protection Bureau guidelines. The carrying value of the consumer real estate loans that were in an active or suspended foreclosure process was $16 million as of both December 31, 2025 and 2024.
Loan Modifications to Borrowers Experiencing Financial Difficulty

As part of the Company’s loss mitigation efforts, the Company may agree to modify the contractual terms of a loan to assist borrowers experiencing financial difficulty. The Company negotiates loan modifications on a case-by-case basis to achieve mutually agreeable terms that maximize loan collectability and meet the borrower’s financial needs. The Company considers various factors to identify borrowers experiencing financial difficulty. The primary factor for consumer loan borrowers is delinquency status. For commercial loan borrowers, these factors include credit risk ratings, the probability of loan risk rating downgrades, and overall risk profile changes. The modification may include, but is not limited to, payment delays, interest rate reductions, term extensions, principal forgiveness, or a combination of such modifications. Commercial loan borrowers that require immaterial modifications such as insignificant interest rate changes, short-term extensions (90 days or less) from the original maturity date, or temporary waivers or extensions of financial covenants which would not constitute material credit actions, are generally not considered to be experiencing financial difficulty and are not included in the disclosure. Insignificant payment deferrals (three months or less in the last 12 months) are also not included in the disclosure.
The following tables present the amortized cost of loans that were modified during the years ended December 31, 2025, 2024 and 2023 by loan class and modification type:
Year Ended December 31, 2025
Modification Type
Combination:
($ in thousands)
Interest Rate Reduction
Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction /Term Extension/ Payment Delay
Rate Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$6,057 $77,039 $51,904 $33,450 $— $19,579 $188,029 1.01 %
CRE— 167,286 — — — — 167,286 1.09 %
Multifamily— 275 — — — — 275 0.01 %
Land and construction— 9,451 — — — — 9,451 1.27 %
Total commercial6,057 254,051 51,904 33,450 — 19,579 365,041 0.91 %
Consumer:
Single-family residential— — 29,545 2,402 — — 31,947 0.21 %
HELOCs— — 14,883 909 407 1,172 17,371 0.91 %
Total consumer— — 44,428 3,311 407 1,172 49,318 0.29 %
Total$6,057 $254,051 $96,332 $36,761 $407 $20,751 $414,359 0.73 %
Year Ended December 31, 2024
Modification Type
Combination:
($ in thousands)Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction/ Term Extension
Rate Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$57,102 $26,420 $— $— $— $83,522 0.48 %
CRE86,258 — — 6,052 — 92,310 0.63 %
Total commercial143,360 26,420 — 6,052 — 175,832 0.47 %
Consumer:
Single-family residential— 15,397 222 — 140 15,759 0.11 %
HELOCs— 14,303 — — 517 14,820 0.82 %
Total consumer— 29,700 222 — 657 30,579 0.19 %
Total$143,360 $56,120 $222 $6,052 $657 $206,411 0.38 %
Year Ended December 31, 2023
Modification Type
Combination:
($ in thousands)Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction/ Term Extension
Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$62,704 $6,842 $— $— $— $69,546 0.42 %
CRE13,939 — — 32,470 — 46,409 0.31 %
Total commercial76,643 6,842 — 32,470 — 115,955 0.31 %
Consumer:
Single-family residential— 10,202 3,967 — — 14,169 0.11 %
HELOCs— 3,148 1,170 — 815 5,133 0.30 %
Total consumer— 13,350 5,137 — 815 19,302 0.13 %
Total$76,643 $20,192 $5,137 $32,470 $815 $135,257 0.26 %

The following tables present the financial effects of the loan modifications for the years ended December 31, 2025, 2024 and 2023 by loan class and modification type:
Year Ended December 31, 2025
Financial Effects of Loan Modifications
($ in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)
Weighted-Average Payment Delay (in years)
Commercial:
C&I3.38 %1.10.8
CRE— %3.20.0
Multifamily— %10.00.0
Land and construction— %0.80.0
Consumer:
Single-family residential— %15.03.5
HELOCs0.97 %15.34.8
Year Ended December 31, 2024
Financial Effects of Loan Modifications
($ in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)Weighted-Average Payment Delay
(in years)
Commercial:
C&I— %2.11.7
CRE1.28 %2.70.0
Consumer:
Single-family residential1.63 %10.01.3
HELOCs0.25 %0.01.7
Year Ended December 31, 2023
Financial Effects of Loan Modifications
($ in thousands)Principal ForgivenessWeighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)Weighted-Average Payment Delay
(in years)
Commercial:
C&I$371 
(1)
— %
(1)
1.30.9
CRE— 3.00 %2.10.0
Consumer:
Single-family residential— — %9.31.8
HELOCs— 0.11 %14.24.6
Total$371 
(1)Comprised of C&I loans modified during the year ended December 31, 2023 where the interest was waived in addition to principal forgiveness. No recorded investment was outstanding as of December 31, 2023.

A modified loan may become delinquent and may result in a payment default (generally 90 days past due) subsequent to modification. The following tables present the amortized cost basis of modified loans that, within 12 months of the modification date, experienced a subsequent default during the years ended December 31, 2025, 2024 and 2023.
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2025
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Commercial:
C&I$206 $5,073 $— $— $5,279 
CRE29,991 — — — 29,991 
Total commercial30,197 5,073 — — 35,270 
Consumer:
Single-family residential— 3,706 — 1,038 4,744 
HELOCs— 3,869 746 483 5,098 
Total consumer— 7,575 746 1,521 9,842 
Total$30,197 $12,648 $746 $1,521 $45,112 
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2024
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Commercial:
C&I$3,684 $4,937 $— $— $8,621 
Total commercial3,684 4,937 — — 8,621 
Consumer:
Single-family residential— 10,223 141 2,462 12,826 
HELOCs— 4,690 517 — 5,207 
Total consumer— 14,913 658 2,462 18,033 
Total$3,684 $19,850 $658 $2,462 $26,654 
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2023
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Consumer:
Single-family residential$— $267 $— $— $267 
HELOCs— 749 — — 749 
Total consumer— 1,016 — — 1,016 
Total$— $1,016 $— $— $1,016 

The Company monitors the performance of modified loans to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of loans that were modified during the years ended December 31, 2025, 2024 and 2023.
Payment Performance as of December 31, 2025
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$185,058 $806 $2,165 $188,029 
CRE167,286 — — 167,286 
Multifamily residential275 — — 275 
Construction and land9,451 — — 9,451 
Total commercial362,070 806 2,165 365,041 
Consumer:
Single-family residential25,119 5,577 1,251 31,947 
HELOCs13,217 2,886 1,268 17,371 
Total consumer38,336 8,463 2,519 49,318 
Total$400,406 $9,269 $4,684 $414,359 
Total nonaccrual loans included above
$11,888 $206 $4,684 $16,778 
Payment Performance as of December 31, 2024
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$71,324 $12,198 $— $83,522 
CRE92,310 — — 92,310 
Total commercial163,634 12,198 — 175,832 
Consumer:
Single-family residential9,082 4,218 2,459 15,759 
HELOCs8,591 3,069 3,160 14,820 
Total consumer17,673 7,287 5,619 30,579 
Total$181,307 $19,485 $5,619 $206,411 
Total nonaccrual loans included above$9,209 $142 $5,619 $14,970 
Payment Performance as of December 31, 2023
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$52,087 $8,153 $9,306 $69,546 
CRE46,409 — — 46,409 
Total commercial98,496 8,153 9,306 115,955 
Consumer:
Single-family residential11,197 2,425 547 14,169 
HELOCs4,207 177 749 5,133 
Total consumer15,404 2,602 1,296 19,302 
Total$113,900 $10,755 $10,602 $135,257 
Total nonaccrual loans included above$8,666 $310 $10,602 $19,578 

As of December 31, 2025 and 2024, commitments to lend additional funds to borrowers whose loans were modified were $14 million and $10 million, respectively.
Allowance for Credit Losses

The Company has a current expected credit losses (“CECL”) framework for all financial assets measured at amortized cost and certain off-balance sheet credit exposures. The Company’s allowance for credit losses, which includes both the ALLL and the allowance for unfunded credit commitments, is calculated with the objective of maintaining a reserve sufficient to absorb losses inherent in our credit portfolios. The measurement of the allowance for credit losses is based on management’s best estimate of lifetime expected credit losses, periodic evaluation of the loan portfolio, lending-related commitments and other relevant factors.

The allowance for credit losses is deducted from the amortized cost basis of a financial asset or a group of financial assets so that the balance sheet reflects the net amount the Company expects to collect. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred fees and costs, and escrow advances. Subsequent changes in expected credit losses are recognized in net income as a provision for, or a reversal of, credit loss expense.

The allowance for credit losses estimation involves procedures to consider the unique risk characteristics of the portfolio segments. The majority of the Company’s credit exposures that share risk characteristics with other similar exposures are collectively evaluated. The collectively evaluated loans include performing loans and unfunded credit commitments. If an exposure does not share risk characteristics with other exposures, the Company generally estimates expected credit losses on an individual basis.

ALLL for Collectively Evaluated Loans

The allowance for collectively evaluated loans consists of a quantitative component that assesses the different risk factors considered in our models and a qualitative component that considers risk factors external to the models. Each of these components are described below.

Quantitative Component — The Company applies quantitative methods to estimate ALLL by considering a variety of factors such as historical loss experience, the current credit quality of the portfolio, and an economic outlook over the life of the loan. The Company incorporates forward-looking information using macroeconomic scenarios which include variables that are considered key drivers of increases and decreases in credit losses. The Company utilizes a probability-weighted, multiple-scenario forecast approach. These scenarios may consist of a base forecast representing management's view of the most likely outcome, combined with downside or upside scenarios reflecting possible worsening or improving economic conditions. The quantitative models incorporate a probability-weighted calculation of these macroeconomic scenarios over a reasonable and supportable forecast period. If the life of the loans extends beyond the reasonable and supportable forecast period, the Company will consider historical experience or long-run macroeconomic trends over the remaining life of the loans to estimate the ALLL.
There were no changes to the reasonable and supportable forecast period, and no changes to the reversion to the historical loss experience method in 2025 and 2024.

The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&IAge percentage, size at origination, delinquency status, sector and risk ratingUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, GDP, and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and Home Price Indices
Other consumerLoss rate approachImmaterial - Macroeconomic variables are included in the qualitative estimate.

Quantitative Component — ALLL for the Commercial Loan Portfolio

The Company’s C&I lifetime loss rate model estimates the loss rate expected over the life of a loan. This loss rate is applied to the amortized cost basis, excluding accrued interest receivable, to determine expected credit losses. The lifetime loss rate model’s reasonable and supportable period spans eight quarters, thereafter, immediately reverting to the historical average loss rate, expressed through the loan-level lifetime loss rate.

To generate estimates of expected loss at the loan level for CRE, multifamily residential, and construction and land loans, projected probabilities of default (“PDs”) and loss given defaults (“LGDs”) are applied to the estimated exposure at default, considering the term and payment structure of the loan. The forecast of future economic conditions returns to long-run historical economic trends within the reasonable and supportable period. To estimate the life of a loan under both models, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience.

Quantitative Component — ALLL for the Consumer Loan Portfolio

For single-family residential and HELOC loans, projected PDs and LGDs are applied to the estimated exposure at default, considering the term and payment structure of the loan, to generate estimates of expected loss at the loan level. The forecast of future economic conditions returns to long-run historical economic trends after the reasonable and supportable period. To estimate the life of a loan for the single-family residential and HELOC loan portfolios, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience. For other consumer loans, the Company uses a loss rate approach.

Qualitative Component — The Company considers the following qualitative factors in the determination of the collectively evaluated allowance if these factors have not already been captured by the quantitative model. Such qualitative factors may include, but are not limited to:
–loan growth trends;
–the volume and severity of past due financial assets, and criticized or adversely classified financial assets;
–the Company’s lending policies and procedures, including changes in lending strategies, underwriting standards, collection, write-off and recovery practices;
–knowledge of a borrower’s operations;
–the quality of the Company’s credit review system;
–the experience, ability and depth of the Company’s management and associates;
–the effect of other external factors such as the regulatory and legal environments, or changes in technology;
–actual and expected changes in international, national, regional, and local economic and business conditions in which the Company operates; and
–risk factors in certain industry sectors not captured by the quantitative models.
The magnitude of the impact of these factors on the Company’s qualitative assessment of the allowance for credit losses changes from period to period according to changes made by management in its assessment of these factors. The extent to which these factors change may depend on whether they are already reflected in quantitative loss estimates during the current period and the extent to which changes in these factors diverge from period to period.

While the Company’s allowance methodologies strive to reflect all relevant credit risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between expected and actual outcomes. The Company may hold additional qualitative reserves that are designed to provide coverage for losses attributable to such risk.

ALLL for Individually Evaluated Loans

When a loan no longer shares similar risk characteristics with other loans, such as in the case of certain nonaccrual loans, the Company estimates the ALLL on an individual loan basis. The ALLL for individually evaluated loans is measured as the difference between the recorded value of the loans and their fair value. For loans evaluated individually, the Company uses one of three different asset valuation measurement methods: (1) the fair value of collateral less costs to sell; (2) the present value of expected future cash flows; or (3) the loan's observable market price. If an individually evaluated loan is determined to be collateral dependent, the Company applies the fair value of the collateral less costs to sell method. If an individually evaluated loan is determined not to be collateral dependent, the Company uses the present value of future cash flows or the observable market value of the loan.

•Collateral-Dependent Loans — The allowance of a collateral-dependent loan is limited to the difference between the recorded value and fair value of the collateral less cost of disposal or sale. As of December 31, 2025, collateral-dependent commercial and consumer loans totaled $69 million and $10 million, respectively. In comparison, collateral-dependent commercial and consumer loans totaled $45 million and $23 million, respectively, as of December 31, 2024. The Company's collateral-dependent loans were secured by real estate. As of both December 31, 2025 and 2024, the collateral value of the properties securing the collateral-dependent loans, net of selling costs, exceeded the recorded value of the majority of the loans.

The following tables summarize the activity in the ALLL by portfolio segments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31, 2025
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 
ALLL recognized on PCD loans
18,175 — — — — — — 18,175 
Provision for (reversal of) credit losses on loans(a)106,941 26,825 4,386 (45)8,398 2,656 (229)148,932 
Gross charge-offs(44,996)(24,237)(8)(1,996)(57)(6)(152)(71,452)
Gross recoveries10,721 229 60 12 306 22 263 11,613 
Total net (charge-offs) recoveries(34,275)(24,008)52 (1,984)249 16 111 (59,839)
Foreign currency translation adjustment453 — — — — — — 453 
ALLL, end of period$475,613 $221,494 $36,555 $15,468 $53,463 $5,804 $1,376 $809,773 
Year Ended December 31, 2024
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 
Provision for (reversal of) credit losses on loans(a)110,791 61,908 (2,684)9,114 (10,176)(873)4,096 172,176 
Gross charge-offs(125,413)(14,236)(10)(2,289)(35)(15)(4,259)(146,257)
Gross recoveries6,505 413 436 203 9 73 — 7,639 
Total net (charge-offs) recoveries(118,908)(13,823)426 (2,086)(26)58 (4,259)(138,618)
Foreign currency translation adjustment(249)— — — — — — (249)
ALLL, end of period$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 
Year Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$371,700 $149,864 $23,373 $9,109 $35,564 $4,475 $1,560 $595,645 
Impact of ASU 2022-02 adoption5,683 337 6 — 1 1 — 6,028 
Provision for (reversal of) credit losses on loans(a)45,319 27,007 10,454 11,537 19,384 (424)294 113,571 
Gross charge-offs(36,573)(7,048)(3)(10,413)— (138)(197)(54,372)
Gross recoveries6,803 432 545 236 69 33 — 8,118 
Total net (charge-offs) recoveries(29,770)(6,616)542 (10,177)69 (105)(197)(46,254)
Foreign currency translation adjustment(247)— — — — — — (247)
ALLL, end of period$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 

In addition to the ALLL, the Company maintains an allowance for unfunded credit commitments. The Company has three general areas for which it provides the allowance for unfunded credit commitments: (1) recourse obligations for loans sold, (2) letters of credit, and (3) unfunded lending commitments. The allowance for unfunded credit commitments is maintained at a level that management believes to be sufficient to absorb estimated expected credit losses related to unfunded credit facilities. See Note 12 — Commitments and Contingencies to the Consolidated Financial Statements in this Form 10-K for additional information related to unfunded credit commitments. The following table summarizes the activity in the allowance for unfunded credit commitments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period$39,526 $37,699 $26,264 
Provision for credit losses on unfunded credit commitments(b)9,168 1,824 11,429 
Foreign currency translation adjustments(4)3 6 
Allowance for unfunded credit commitments, end of period48,690 39,526 37,699 
Provision for credit losses on loans, leases and unfunded credit commitments(a) + (b)$158,100 $174,000 $125,000 
The allowance for credit losses on loans, leases and unfunded credit commitments was $858 million as of December 31, 2025, compared with $742 million as of December 31, 2024. The increase in the allowance for credit losses was primarily driven by the Company’s net loan growth, qualitative risk assessment, and an economic outlook that reflected continued caution regarding inflation, the high-interest rate environment and potential impacts from the escalating tariff and global trade tensions.

The Company considers multiple economic scenarios to develop the estimate of the ALLL. The scenarios may consist of a baseline forecast representing management's view of the most likely outcome, and downside or upside scenarios that reflect possible worsening or improving economic conditions. As of December 31, 2025, the Company assigned the same weightings to its baseline, while applying slightly lower and higher weightings to the upside and downside scenarios, respectively, as compared with December 31, 2024. The current baseline economic forecast continues to reflect key risks such as a weakening labor market, still-elevated interest rates, inflation, and concerns over global conflicts. Compared with December 2024, the December 2025 baseline forecast for GDP growth showed mild improvement in the near term, while the forecast for the unemployment rate showed an uptick beginning in 2026 and beyond. The downside scenario assumed the economy falls into recession in the first quarter of 2026 as a result of tariffs, rising inflation, still-elevated interest rates, political tensions, and reduced credit availability. The upside scenario assumed a more optimistic economic outlook, including stronger growth, stable financial markets, and full employment starting in the first quarter of 2026.
Loan Transfers, Sales and Purchases

The Company’s primary business focus is on directly originated loans. The Company also purchases loans from and participates in loan financing with other banks. In the normal course of business, the Company also provides other financial institutions with the ability to participate in commercial loans that it originates, by selling loans to such institutions. Purchased loans may be transferred from held-for-investment to held-for-sale, and write-downs to ALLL are recorded, when appropriate. The following tables provide information on the carrying value of loans transferred, sold and purchased during the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31, 2025
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$282,252 $39,475 $9,500 $— $331,227 
Sales (2)(3)
$264,445 $39,475 $11,316 $1,232 $316,468 
Purchases (4)
$450,314 $— $— $515,390 $965,704 
Year Ended December 31, 2024
Commercial Consumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$649,187 $9,417 $718 $— $659,322 
Sales (2)(3)
$650,256 $9,417 $718 $2,997 $663,388 
Purchases (4)
$612,364 $— $— $387,629 $999,993 
Year Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$647,943 $83,282 $8,154 $— $739,379 
Sales (2)(3)
$674,919 $86,749 $8,154 $— $769,822 
Purchases (4)
$106,493 $— $— $493,282 $599,775 
(1)Includes write-downs to the ALLL related to loans transferred from held-for-investment to held-for-sale of $2 million for each of the years ended December 31, 2025 and 2024, and $5 million for the year ended December 31, 2023.
(2)Includes originated loans sold of $219 million, $508 million and $513 million for the years ended December 31, 2025, 2024 and 2023, respectively. Originated loans sold consisted primarily of C&I and CRE loans for the years ended December 31, 2025 and 2023, and consisted primarily of C&I loans for the year ended December 31, 2024.
(3)Includes $97 million, $156 million and $256 million of purchased loans sold in the secondary market for the years ended December 31, 2025, 2024 and 2023, respectively.
(4)C&I loan purchases were comprised of syndicated C&I term loans.
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net
 12 Months Ended
Dec. 31, 2025
Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net and Variable Interest Entities [Abstract]  
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net
The CRA encourages banks to meet the credit needs of their communities, particularly low- and moderate-income individuals and neighborhoods. The Company invests in certain affordable housing projects in the form of ownership interests in limited partnerships or limited liability companies that qualify for CRA consideration and tax credits. These entities are formed to develop and operate apartment complexes designed as high-quality affordable housing for lower income tenants throughout the U.S. To fully utilize the available tax credits, each of these entities must meet the affordable housing regulatory requirements for a 15-year minimum compliance period. The Company also invests in small business investment companies and new markets tax credit projects that qualify for CRA consideration, as well as eligible projects that qualify for production, historic and renewable energy tax credits. Investments in new markets tax credits promote development in low-income communities; investments in production and renewable energy tax credits help promote the development of renewable energy sources; and investments in historic tax credits promote the rehabilitation of historic buildings and economic revitalization of the surrounding areas.

The majority of the affordable housing partnership, tax credit and CRA investments discussed above are VIEs, where the Company is a limited partner in these investments, and an unrelated third party is typically the general partner or managing member who has control over the significant activities of these investments. While the Company’s interest in some of the investments may exceed 50% of the outstanding equity interests, the Company does not consolidate these investments due to the general partner’s or managing member’s ability to manage the entity, which is indicative of the general partner’s or managing member’s power over the entity. The Company’s maximum exposure to loss in connection with these partnerships consists of the unamortized investment balance and any tax credits claimed that may become subject to recapture.

The Company elects to account for its tax credit investments using the PAM on a program-by-program basis if certain conditions are met. For the Company’s accounting policies on PAM, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Income Taxes in this Form 10-K. For discussion on the Company’s impairment evaluation and monitoring process of tax credit investments, refer to Note 2 — Fair Value Measurement and Fair Value of Financial Instruments — Affordable Housing Partnership, Tax Credit and CRA Investments, Net to the Consolidated Financial Statements in this Form 10-K.
The following table presents the investments and unfunded commitments of the Company’s affordable housing partnership, tax credit, and CRA investments, net as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Assets
Liabilities - Unfunded Commitments (1)
Assets
Liabilities - Unfunded Commitments (1)
PAM:
Affordable housing partnership investments$483,021 $172,343 $500,217 $280,919 
Tax credit and CRA investments140,723 43,878 160,429 21,202 
Equity method of accounting and other:
Tax credits and CRA investments345,748 
(2)
121,275 265,994 
(2)
105,743 
Total$969,492 $337,496 $926,640 $407,864 
(1)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.
(2)Includes $37 million and $29 million of equity securities without readily determinable fair values as of December 31, 2025 and 2024, respectively.

The following table presents additional information related to the investments in affordable housing partnership, tax credit and CRA investments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Tax credits and benefits (1):
PAM:
Affordable housing partnership investments$87,214 $70,335 $60,939 
Tax credit and CRA investments111,906 110,260 — 
Equity method of accounting and other:
Tax credit and CRA investments119,098 64,720 124,433 
Total tax credits and benefits$318,218 $245,315 $185,372 
Amortization (2):
PAM:
Affordable housing partnership investments (3)
$60,078 $46,113 $43,041 
Tax credit and CRA investments (4)
88,883 90,113 — 
Equity method of accounting and other:
Tax credit and CRA investments (5) (6)
74,795 54,242 120,299 
Total amortization$223,756 $190,468 $163,340 
(1)Includes purchased tax credits and was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025, 2024 and 2023.
(2)Amortization of investments in affordable housing partnership, tax credit and CRA investments is included in Depreciation, amortization, and accretion, net on the Consolidated Statement of Cash Flows.
(3)Amortization related to investments in qualified affordable housing partnerships under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025, 2024 and 2023.
(4)Following the adoption of ASU 2023-02 on January 1, 2024, amortization related to qualifying tax credit investments under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025 and 2024.
(5)Amortization related to tax credit and CRA investments was recognized in Amortization of tax credit and CRA investments as part of noninterest expense on the Consolidated Statement Income for the years ended December 31, 2025, 2024 and 2023.
(6)Includes impairment charges of $1 million for the year ended December 31, 2024, and net impairment recoveries of $1 million for the year ended December 31, 2023. The activity was primarily related to historic tax credits.
As of December 31, 2025, the Company’s unfunded commitments related to investments in affordable housing partnership, tax credit and CRA investments, net are estimated to be funded as follows:
($ in thousands)Amount
2026$279,856 
202743,982 
20286,034 
20291,440 
20301,931 
Thereafter4,253 
Total$337,496 

The Company also held equity securities without readily determinable fair values totaling $117 million and $118 million as of December 31, 2025 and 2024, respectively. These equity securities without readily determinable fair values are included in Other Assets on the Consolidated Balance Sheet.
v3.25.4
Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Total goodwill was $466 million as of both December 31, 2025 and 2024. The Company’s goodwill impairment test is performed annually, as of December 31, or more frequently if events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. The Company completed its annual goodwill impairment test as of December 31, 2025 by using a qualitative assessment, and concluded goodwill was not impaired. Additional information pertaining to the Company’s accounting policy for goodwill is summarized in Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Goodwill to the Consolidated Financial Statements in this Form 10-K.

As of December 31, 2025, the Company held an equity method investment totaling $108 million of which $101 million was comprised of equity method goodwill.
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposit Accounts [Abstract]  
Deposits Deposits
The following table presents the composition of the Company’s deposits as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
Deposits:
Noninterest-bearing demand$16,697,099 $15,450,428 
Interest-bearing checking7,989,255 7,940,692 
Money market15,439,729 14,816,511 
Savings:
Domestic office1,503,006 1,583,657 
Foreign office168,798 167,963 
Time deposits (1):
Domestic office22,694,862 21,128,657 
Foreign office2,589,952 2,087,115 
Total deposits$67,082,701 $63,175,023 
(1)The aggregate amount of time deposits that met or exceeded the deposit insurance limit was $18.3 billion and $16.5 billion as of December 31, 2025 and 2024, respectively.
The following table presents the scheduled maturities of time deposits for the five years succeeding December 31, 2025:
($ in thousands)Amount
2026$24,796,653 
2027415,251 
202868,605 
20292,908 
20301,397 
Total$25,284,814 
v3.25.4
Federal Home Loan Bank Advances and Long-Term Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Federal Home Loan Bank Advances and Long-Term Debt Federal Home Loan Bank Advances and Long-Term Debt
The following table presents details of the Company’s FHLB advances and long-term debt as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Interest RateMaturity DatesAmountAmount
Parent company
Junior subordinated debt (1) — floating
5.53%12/15/2035$32,320 $32,001 
Bank
FHLB advances (2):
Floating (3)
3.87% — 3.96%
2026$2,000,000 $3,000,000 
Fixed
3.87% — 4.01%
2026750,000 500,000 
Overnight (4)
4.02%1/2/2026250,000 — 
Total FHLB advances$3,000,000 $3,500,000 
(1)As of December 31, 2025, the outstanding junior subordinated debt was issued by MCBI Statutory Trust I and had a stated interest rate of 3-month CME Term Secured Overnight Financing Rate ("SOFR") + 1.81%. The contractual interest rates for junior subordinated debt were 5.53% and 6.17% as of December 31, 2025 and 2024, respectively.
(2)The weighted-average interest rate for FHLB advances was 3.94% as of December 31, 2025.
(3)Floating interest rates are based on the SOFR plus the established spread.
(4)Overnight interest rates are based on the Standard Credit Program’s Advance Rate, as published by the FHLB.

FHLB Advances

The Bank’s available borrowing capacity from FHLB advances totaled $11.8 billion as of December 31, 2025. The Bank’s available borrowing capacity from the FHLB is derived from its portfolio of loans that are pledged to the FHLB, reduced by any outstanding FHLB advances. As of December 31, 2025, all advances were secured by real estate loans.

Long-Term Debt — Junior Subordinated Debt

As of December 31, 2025, East West had one statutory business trust for the purpose of holding junior subordinated debt issued to third party investors. The proceeds from these issuances represent liabilities of East West to the Trust and are reported as a component of Long-term debt on the Consolidated Balance Sheet. Interest payments on these securities are disbursed quarterly and are deductible for tax purposes. Outstanding principal amounts included $35 million of junior subordinated debt and $1 million of trust preferred securities as of December 31, 2025.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table presents the components of income before income taxes and income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Income before income taxes:
U.S.$1,686,561 $1,429,104 $1,425,756 
Foreign38,899 52,757 34,014 
Total income before income taxes1,725,460 1,481,861 1,459,770 
Current income tax expense:
Federal250,521 166,268 172,428 
State149,291 153,891 173,080 
Foreign8,235 10,399 2,240 
Total current income tax expense408,047 330,558 347,748 
Deferred income tax (benefit) expense:
Federal(20,242)(6,467)(24,319)
State12,897 (5,582)(23,415)
Foreign(430)(2,234)(1,405)
Total deferred income tax benefit(7,775)(14,283)(49,139)
Total income tax expense:
Federal230,279 159,801 148,109 
State162,188 148,309 149,665 
Foreign7,805 8,165 835 
Total income tax expense$400,272 $316,275 $298,609 
The following table presents the reconciliation of the federal statutory rate to the Company’s effective tax rate for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
($ in thousands)AmountPercentAmountPercentAmountPercent
Statutory U.S. federal tax rate$362,347 21.0%$311,191 21.0%$306,552 21.0%
U.S. federal
Tax credits (1)
Tax credits and benefits under the PAM, net of amortization(29,268)(1.7)(26,147)(1.8)(4,299)(0.3)
Energy tax credit — solar
(42,406)(2.5)(52,722)(3.5)(70,364)(4.8)
Energy tax credit — energy storage
(34,408)(2.0)(11,143)(0.7)— — 
New markets tax credit— — — — (21,378)(1.5)
Other tax credits(23,802)(1.4)(18,906)(1.3)(34,076)(2.3)
Changes in valuation allowance13,353 0.8 — — — — 
Nontaxable or nondeductible items
Nondeductible FDIC insurance premiums8,474 0.5 7,719 0.5 7,007 0.5 
Other nontaxable or nondeductible items4,899 0.3 (15,041)(1.0)217 0.0 
Other, net7,549 0.4 (3,879)(0.3)(4,544)(0.3)
U.S. state and local income taxes, net of U.S. federal income tax effect (2)
125,638 7.3 116,091 7.8 118,236 8.1 
Foreign tax effects7,805 0.5 8,165 0.5 835 0.1 
Changes in unrecognized tax benefits91 0.0 947 0.1 423 0.0 
Effective tax rate$400,272 23.2%$316,275 21.3%$298,609 20.5%
(1)Following the adoption of ASU 2023-02 on January 1, 2024, the Company expanded the PAM to include qualifying investments in new markets, historic, production and energy tax credit programs, in addition to affordable housing partnerships.
(2)California state taxes made up the majority (greater than 50 percent) of state and local taxes.

The following table presents the income taxes paid (net of refunds received) by the Company for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Federal$65,981 $68,371 $140,000 
State
California120,000 102,061 100,000 
New York67,001 59,049 36,732 
Other states
12,080 11,278 14,953 
Foreign13,120 6,186 — 
Total$278,182 $246,945 $291,685 
The following table summarizes the tax effects of temporary differences that give rise to a significant portion of deferred tax assets and liabilities as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
Deferred tax assets:
Allowance for credit losses and nonperforming assets valuation allowance$251,494 $233,879 
Net unrealized losses on AFS debt and transferred securities
142,141 223,814 
Stock compensation and other accrued compensation46,825 41,118 
Lease liabilities40,714 27,644 
Tax credit and capital loss carryforwards
51,193 11,122 
Basis difference in investments
16,430 17,708 
Nonaccrual loans’ interest income
8,306 8,809 
State taxes6,548 5,808 
FDIC special assessment charge2,615 16,843 
Other13,435 14,665 
Total deferred tax assets$579,701 $601,410 
Valuation allowance(13,353)— 
Total deferred tax assets, net of valuation allowance$566,348 $601,410 
Deferred tax liabilities:
Operating lease right-of-use assets$37,225 $25,647 
Basis difference in investments
26,203 25,587 
Net unrealized gains on derivative hedges
14,704 — 
Equipment lease financing7,206 10,395 
Other7,006 26,437 
Total deferred tax liabilities$92,344 $88,066 
Net deferred tax assets$474,004 $513,344 

The Company has not repatriated and does not intend to repatriate earnings from its foreign subsidiary. The Company determined such earnings are to be indefinitely reinvested in the local jurisdiction. The related unrecognized deferred tax liability on these earnings is immaterial.

As of December 31, 2025, the Company had deferred tax assets of $46 million related to tax credit carryforwards and $5 million related to state capital loss carryforwards. The Company’s tax credit carryforwards included $13 million of foreign tax credits as of December 31, 2025, which may not be fully utilized before they expire in 2034. The Company’s remaining carryforwards are expected to be fully utilized before they start to expire in 2028. The Company concluded that a valuation allowance was necessary to reduce the deferred tax assets associated with the foreign tax credits and recorded a $13 million valuation allowance as of December 31, 2025. For the remaining deferred tax assets it is more likely than not that there will be sufficient taxable income of appropriate nature in future years to realize these assets. For further information on the Company’s valuation policy on deferred taxes, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Income Taxes to the Consolidated Financial Statements in this Form 10-K.
The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Beginning balance$4,670 $1,193 $477 
Additions for tax positions related to prior years— 2,698 
(1)
459 
Deductions for tax positions related to prior years(446)— — 
Additions for tax positions related to current year547 779 257 
Settlements with taxing authorities(2,019)
(2)
— — 
Ending balance$2,752 $4,670 $1,193 
(1)In 2024, the increase in positions related to prior years primarily related to proposed adjustments resulting from examination of the Company’s state tax returns.
(2)In 2025, the Company settled an issue related to the examination of the Company’s prior years’ state tax returns.

The Company recognizes interest and penalties, as applicable, related to the underpayment of income taxes as a component of Income tax expense on the Consolidated Statement of Income. The Company recorded net interest expense of $1 million for each of the years ended December 31, 2025 and 2024. In comparison, net interest and penalties expense was immaterial for the year ended 2023. Total accrued interest included in Accrued expenses and other liabilities on the Consolidated Balance Sheet was $232 thousand and $1 million as of December 31, 2025 and 2024, respectively.

The Company files federal income tax returns, as well as returns in various state and foreign jurisdictions. We are routinely examined by tax authorities in these various jurisdictions. The Company is subject to federal income tax examination for the tax years 2022 and forward. With few exceptions, the Company is also subject to tax examination in various state and local jurisdictions for the tax years 2021 and forward. The Company does not believe that the outcome of unresolved issues or claims in any of the tax jurisdictions is likely to have a material impact on the Company’s Consolidated Financial Statements. The Company believes that adequate provisions have been recorded for all income tax uncertainties consistent with ASC 740, Income Taxes as of December 31, 2025.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Commitments to Extend Credit — In the normal course of business, the Company provides loan commitments and letters of credit to customers on predetermined terms. These outstanding commitments to extend credit are not reflected in the accompanying Consolidated Financial Statements.

The following table presents the Company’s credit-related commitments as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Expire in One Year or LessExpire After One Year Through Three YearsExpire After Three Years Through Five YearsExpire After Five YearsTotalTotal
Loan commitments$4,927,242 $3,887,543 $716,718 $92,460 $9,623,963 $9,128,040 
Commercial letters of credit and SBLCs1,265,040 560,517 153,113 977,620 2,956,290 2,917,029 
Total$6,192,282 $4,448,060 $869,831 $1,070,080 $12,580,253 $12,045,069 

Loan commitments are agreements to lend to customers provided there are no violations of any conditions established in the agreement. Commitments generally have fixed expiration dates or other termination clauses and may require commitment fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future funding requirements.
Commercial letters of credit are issued to facilitate domestic and foreign trade transactions, while SBLCs are generally contingent upon the failure of the customers to perform according to the terms of the underlying contract with the third party. As a result, the total contractual amounts do not necessarily represent future funding requirements. The Company’s historical experience is that SBLCs typically expire without being funded. Additionally, in many cases, the Company holds collateral in various forms against these SBLCs. As part of its risk management activities, the Company monitors the creditworthiness of customers in conjunction with its SBLC exposure. Customers are obligated to reimburse the Company for any payment made on the customers’ behalf. If the customers fail to pay, the Company would, as applicable, liquidate the collateral and/or offset existing accounts. As of December 31, 2025, total letters of credit of $3.0 billion consisted of SBLCs of $2.9 billion and commercial letters of credit of $31 million. In comparison, as of December 31, 2024, total letters of credit of $2.9 billion consisted of SBLCs of $2.9 billion and commercial letters of credit of $29 million. As of both December 31, 2025 and 2024, substantially all letters of credit were graded “Pass” using the Bank’s internal credit risk rating system.

The Company applies the same credit underwriting criteria to extend loans, commitments, and conditional obligations to customers. Each customer’s creditworthiness is evaluated on a case-by-case basis. Collateral and financial guarantees may be obtained based on management’s assessment of a customer’s credit risk. Collateral may include cash, accounts receivable, inventory, personal property, plant and equipment, and real estate property.

Estimated exposure to loss from these commitments is included in the allowance for unfunded credit commitments, and amounted to $49 million and $39 million as of December 31, 2025 and 2024, respectively. For further information on the allowance for unfunded credit commitments, refer to Note 6 — Loans Receivable and Allowance for Credit Losses to the Consolidated Financial Statements in this Form 10-K

Guarantees — The Company occasionally sells or securitizes single-family and multifamily residential loans with recourse in the ordinary course of business. The Company is obligated to repurchase up to the recourse component of the loans if the loans default. The following table presents the maximum potential future payments and carrying value of loans sold or securitized with recourse as of December 31, 2025 and 2024:
Maximum Potential Future Payments
Carrying Value (1)
December 31,December 31,
2025202420252024
($ in thousands)Expire After One Year Through Three YearsExpire After Three Years Through Five YearsExpire After Five YearsTotalTotalTotalTotal
Single-family residential loans sold or securitized with recourse$15 $323 $2,799 $3,137 $4,375 $3,137 $4,375 
Multifamily residential loans sold or securitized with recourse124 40 14,832 14,996 14,996 15,895 17,770 
Total $139 $363 $17,631 $18,133 $19,371 $19,032 $22,145 
(1)Represents the unpaid principal balance.

The Company continues to experience minimal losses from the single-family and multifamily residential loan portfolios sold or securitized with recourse and recorded an immaterial recourse reserve as of December 31, 2025 and 2024.

Litigation — The Company is a party to various legal actions arising in the ordinary course of its business. In accordance with ASC 450, Contingencies, the Company accrues reserves for outstanding lawsuits, claims and proceedings when a loss contingency is probable and can be reasonably estimated. The Company estimates the amount of loss contingencies using current available information from legal proceedings, advice from legal counsel and available insurance coverage. Due to the inherent subjectivity of the assessments and unpredictability of the outcomes of the legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to the Company from the legal proceedings in question. Thus, the Company’s exposure and ultimate losses may be higher, and possibly significantly more than the amounts accrued.
While it is impossible to ascertain the ultimate resolution or range of financial liability, based on information known to the Company as of December 31, 2025, the Company does not believe there are any pending legal proceedings to which the Company is a party that, individually or in the aggregate, would reasonably be expected to have a material adverse effect on the Company’s financial condition. In light of the inherent uncertainty in legal proceedings, however, there can be no assurance that the ultimate resolution will not exceed established reserves and it is possible that the outcome of a particular matter, or a combination of matters, may be material to the Company’s financial condition for a particular period, depending upon the size of the loss and the Company’s income for that particular period.
v3.25.4
Stock Compensation Plans
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Compensation Plans Stock Compensation Plans
Pursuant to the Company’s 2021 Stock Incentive Plan, as amended, the Company may issue stock, stock options, restricted stock, RSUs including performance-based RSUs, stock purchase warrants, stock appreciation rights, phantom stock and dividend equivalents to eligible employees, non-employee directors, consultants, and other service providers of East West and its subsidiaries. The Company has granted RSUs as its primary incentive awards. There were no outstanding awards other than RSUs as of December 31, 2025, 2024 and 2023. The total number of shares available for grant under the 2021 Stock Incentive Plan was approximately 3 million as of December 31, 2025.

The following table presents a summary of the total share-based compensation expense and the related net tax benefits associated with the Company’s various employee share-based compensation plans for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Stock compensation costs$76,189 $45,535 $39,867 
Related net tax benefits for stock compensation plans$3,041 $997 $8,959 

Restricted Stock Units — RSUs are granted under the Company’s long-term incentive plan at no cost to the recipient. RSUs generally cliff vest after three years of continued employment from the date of the grant, and are authorized to settle in shares of the Company’s common stock. Dividends are accrued during the vesting period and paid at the time of vesting. While a portion of RSU grants are time-based vesting awards, other RSUs vest subject to the attainment of additional specified performance goals, referred to as “performance-based RSUs.” Performance-based RSUs are granted annually upon approval by the Company’s Compensation and Management Development Committee based on the performance in the year prior to the grant date of the award. The number of awards that vest can range from 0% to a maximum of 200% of the target number of awards based on the Company’s achievement of specified performance criteria over a performance period of three years. For information on accounting on stock-based compensation plans, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Stock-Based Compensation to the Consolidated Financial Statements in this Form 10-K.

The following table presents a summary of the activities for the Company’s time- and performance-based RSUs that were settled in shares for the year ended December 31, 2025. The number of performance-based RSUs stated below reflects the number of awards granted on the grant date:
Time-Based RSUsPerformance-Based RSUs
SharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Outstanding, January 1, 2025
1,348,612 $75.70 282,061 $79.48 
Granted473,818 $95.20 88,660 $95.34 
Vested(359,890)$78.17 (87,992)$81.35 
Forfeited(110,516)$80.18 — $— 
Outstanding, December 31, 2025
1,352,024 $81.51 282,729 $83.87 
The weighted-average grant date fair value of the time-based RSUs granted during the years ended December 31, 2025, 2024, and 2023 was $95.20, $76.44, and $73.13, respectively. The weighted-average grant date fair value of the performance-based RSUs granted during the years ended December 31, 2025, 2024 and 2023 was $95.34, $80.28 and $79.93, respectively. The total fair value of time-based RSUs that vested during the years ended December 31, 2025, 2024 and 2023 was $34 million, $25 million and $39 million, respectively. The total fair value of performance-based RSUs that vested during the years ended December 31, 2025, 2024, and 2023 was $14 million, $12 million and $21 million, respectively.

As of December 31, 2025, there was $35 million of unrecognized compensation costs related to unvested time-based RSUs expected to be recognized over a weighted-average period of 1.8 years, and $5 million of unrecognized compensation costs related to unvested performance-based RSUs expected to be recognized over a weighted-average period of 1.8 years.

Employee Stock Purchase Plan — The 1998 Employee Stock Purchase Plan (the “Purchase Plan”) provides eligible employees of the Company the right to purchase shares of its common stock at a discount. Employees can purchase shares at 90% of the fair market price subject to an annual purchase limitation of $22,500 per employee. As of December 31, 2025, the Purchase Plan qualifies as a non-compensatory plan under Section 423 of the Internal Revenue Code and, accordingly, no compensation expense has been recognized. 2,000,000 shares of the Company’s common stock were authorized for sale under the Purchase Plan. During the years ended December 31, 2025 and 2024, 36,863 shares totaling $3 million and 41,563 shares totaling $3 million, respectively, were sold to employees under the Purchase Plan. As of December 31, 2025, there were 73,388 shares available under the Purchase Plan.
v3.25.4
Stockholders' Equity and Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity and Earnings Per Share [Abstract]  
Stockholders' Equity and Earnings Per Share Stockholders’ Equity and Earnings Per Share
The following table presents the basic and diluted EPS calculations for the years ended December 31, 2025, 2024 and 2023. For more information on the calculation of EPS, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Share to the Consolidated Financial Statements in this Form 10-K.
Year Ended December 31,
($ and shares in thousands, except per share data)202520242023
Basic:
Net income$1,325,188 $1,165,586 $1,161,161 
Basic weighted-average number of shares outstanding
138,342 
(1)
138,898 141,164 
Basic EPS$9.58 $8.39 $8.23 
Diluted:
Net income$1,325,188 $1,165,586 $1,161,161 
Less: Fair value changes of liability-classified equity contracts, net of tax (2)
(996)— — 
Net income, diluted
$1,324,192 $1,165,586 $1,161,161 
Basic weighted-average number of shares outstanding
138,342 
(1)
138,898 141,164 
Add: Dilutive impact of unvested RSUs and liability-classified equity contracts that are share-settled788 1,060 738 
Diluted weighted-average number of shares outstanding139,130 139,958 141,902 
Diluted EPS$9.52 $8.33 $8.18 
(1)Includes retirement-eligible employees’ awards.
(2)Applied blended statutory tax rate of 28.02% for the year ended December 31, 2025.

Approximately nine thousand, six thousand and 283 thousand weighted-average shares of anti-dilutive RSUs were excluded from the diluted EPS computation for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock Repurchase Program — On January 22, 2025, the Company’s Board of Directors authorized the repurchase of up to $300 million of its common stock. The Company repurchased $115 million and $144 million of its common stock in the years ended December 31, 2025 and 2024, respectively. All repurchases were made on the open market at currently prevailing prices.
v3.25.4
Accumulated Other Comprehensive (Loss) Income
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Accumulated Other Comprehensive (Loss) Income Accumulated Other Comprehensive (Loss) Income
The following table presents the changes in the components of AOCI balances for the years ended December 31, 2025, 2024 and 2023:
($ in thousands)
Debt Securities (1)
Cash Flow Hedges
Foreign Currency Translation Adjustments (2)
Total
Balance, December 31, 2022$(694,815)$(49,531)$(21,283)$(765,629)
Net unrealized gains (losses) arising during the period
76,930 (4,277)(56)72,597 
Amounts reclassified from AOCI16,004 56,432 — 72,436 
Changes, net of tax92,934 52,155 (56)145,033 
Balance, December 31, 2023$(601,881)$2,624 $(21,339)$(620,596)
Net unrealized gains (losses) arising during the period50,302 (87,447)(982)(38,127)
Amounts reclassified from AOCI9,427 64,036 — 73,463 
Changes, net of tax59,729 (23,411)(982)35,336 
Balance, December 31, 2024$(542,152)$(20,787)$(22,321)$(585,260)
Net unrealized gains arising during the period
177,668 34,108 1,734 213,510 
Amounts reclassified from AOCI11,252 14,888 — 26,140 
Changes, net of tax188,920 48,996 1,734 239,650 
Balance, December 31, 2025$(353,232)$28,209 $(20,587)$(345,610)
(1)Includes after-tax unamortized losses related to AFS debt securities that were transferred to HTM in 2022.
(2)Represents foreign currency translation adjustments related to the Company’s net investments in non-U.S. operations, including related hedges.
The following table presents the components of other comprehensive (loss) income, reclassifications to net income and the related tax effects for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
($ in thousands)Before-TaxTax Effect Net-of-TaxBefore-TaxTax Effect Net-of-TaxBefore-TaxTax Effect Net-of-Tax
Debt securities:
Net unrealized gains on AFS debt securities arising during the period
$252,366 $(74,698)$177,668 $71,259 $(20,957)$50,302 $109,216 $(32,286)$76,930 
Reclassification adjustments:
Net realized losses (gains) on AFS debt securities reclassified into net income (1)
937 (277)660 (2,069)612 (1,457)6,862 
(2)
(2,029)4,833 
Amortization of unrealized losses on transferred securities (3)
15,038 (4,446)10,592 15,452 (4,568)10,884 15,860 (4,689)11,171 
Net change268,341 (79,421)188,920 84,642 (24,913)59,729 131,938 (39,004)92,934 
Cash flow hedges:
Net unrealized gains (losses) arising during the period
48,016 (13,908)34,108 (124,382)36,935 (87,447)(5,767)1,490 (4,277)
Net realized losses reclassified into net income (4)
20,959 (6,071)14,888 91,083 (27,047)64,036 79,843 (23,411)56,432 
Net change68,975 (19,979)48,996 (33,299)9,888 (23,411)74,076 (21,921)52,155 
Foreign currency translation adjustments, net of hedges:
Net unrealized gains (losses) arising during the period
1,641 93 1,734 (809)(173)(982)698 (754)(56)
Net change1,641 93 1,734 (809)(173)(982)698 (754)(56)
Other comprehensive income
$338,957 $(99,307)$239,650 $50,534 $(15,198)$35,336 $206,712 $(61,679)$145,033 
(1)Pre-tax amounts were reported in Net gains (losses) on AFS debt securities and Provision for Credit Losses on the Consolidated Statement of Income Refer to Note 4 — Securities — Realized Gains and Credit Losses for further details.
(2)Represents the net loss related to an AFS debt security that was written-off in the first quarter of 2023 and subsequently sold during the fourth quarter of 2023.
(3)Represents unrealized losses amortized over the remaining useful lives of securities that were transferred from the AFS to HTM portfolio in 2022.
(4)Pre-tax amounts related to cash flow hedges on variable rate loans and long-term borrowings, where applicable, were reported in Interest and dividend income and in Interest expense, respectively, on the Consolidated Statement of Income. In 2023, pre-tax amount also includes the terminated cash flow hedge where the forecasted cash flows were no longer probable to occur and was reported in Noninterest income on the Consolidated Statement of Income.
v3.25.4
Regulatory Requirements and Matters
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Interest [Abstract]  
Regulatory Requirements and Matters Regulatory Requirements and Matters
The Company and the Bank are subject to regulatory capital adequacy requirements administered by the respective federal banking agencies that are based largely under the Basel III Capital Rules. As standardized approaches institutions, the Basel III Capital Rules require that banking organizations, such as the Company and the Bank, to maintain a minimum Common Equity Tier 1 (“CET1”) capital ratio of at least 4.5%, a Tier 1 capital ratio of at least 6.0%, a total capital ratio of at least 8.0%, and a Tier 1 leverage ratio of a least 4.0% to be considered adequately capitalized. Failure to meet the minimum capital requirements can result in certain mandatory actions and possibly additional discretionary actions by the regulators that, if undertaken, could have a direct material effect on the Company’s Consolidated Financial Statements. The Company and the Bank are also subject to maintaining a capital conservation buffer of 2.5% above the minimum risk-based capital ratios under the Basel III Capital Rules. Banking institutions with a ratio of CET1 to risk-weighted assets above the minimum but which does not exceed the capital conservation buffer will face constraints on dividends, share repurchases and executive compensation based on the amount of the shortfall.
The Federal Deposit Insurance Corporation Improvement Act of 1991 requires that the federal regulatory agencies adopt regulations defining capital categories for banks: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. Under the agencies’ Prompt Corrective Action regulations, failure of a bank to be well capitalized results in an escalating series of adverse regulatory consequences.

As of both December 31, 2025 and 2024, the Company and the Bank were both categorized as well capitalized based on applicable U.S. regulatory capital ratio requirements in accordance with Basel III standardized approaches, as set forth in the table below. The Company believes that no changes in conditions or events have occurred since December 31, 2025, which would result in changes that would cause the Company or the Bank to fall below the well capitalized level. The following table presents the regulatory capital information of the Company and the Bank as of December 31, 2025 and 2024:
Basel III
December 31, 2025
December 31, 2024 (1)
($ in thousands)AmountRatioAmountRatioMinimum Regulatory Requirements
Minimum Regulatory Requirements including Capital Conservation Buffer (3)
Well-Capitalized Requirement
Total capital (to risk-weighted assets)
Company$9,480,208 16.4%$8,561,797 15.6%8.0%10.5%10.0%
East West Bank$8,694,701 15.1%$8,053,389 14.7%8.0%10.5%10.0%
Tier 1 capital (to risk-weighted assets)
Company$8,721,523 15.1%$7,839,816 14.3%6.0%8.5%6.0%
East West Bank$7,973,536 13.9%$7,367,996 13.4%6.0%8.5%8.0%
CET1 capital (to risk-weighted assets)
Company (2)
$8,721,523 15.1%$7,839,816 14.3%4.5%7.0%N/A
East West Bank$7,973,536 13.9%$7,367,996 13.4%4.5%7.0%6.5%
Tier 1 leverage capital (to adjusted quarterly average assets)
Company (2)
$8,721,523 10.9%$7,839,816 10.4%4.0%4.0%N/A
East West Bank$7,973,536 10.0%$7,367,996 9.8%4.0%4.0%5.0%
N/A — Not applicable.
(1)Reflected a delay of the estimated impact of CECL on regulatory capital in accordance with regulatory capital rules.
(2)The well-capitalized requirements for CET1 capital and Tier 1 leverage capital apply only to the Bank since there is no CET1 capital ratio or Tier 1 leverage capital ratio component in the definition of a well-capitalized bank holding company.
(3)Includes a 2.5% capital conservation buffer requirement above the minimum risk-based capital ratios, where applicable.
v3.25.4
Business Segments
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company organizes its operations into three reportable operating segments: (1) Consumer and Business Banking; (2) Commercial Banking; and (3) Treasury and Other. These segments are defined based on customer type, the channels where customers are served, and the products and services provided. The chief operating decision maker (“CODM”) is the Chairman and Chief Executive Officer of the Company. The CODM regularly reviews the Company’s operating results to allocate resources and assess performance. Operating segment results are also based on the Company’s internal management reporting process, which reflects the allocations of certain balance sheet and income statement line items. The CODM uses certain performance measures such as segment net income and considers variances of actual results from forecast results on a quarterly basis when making decisions on resource allocations between segments. The segment information presented is not indicative of how the segments would perform if they operated as independent entities.

The Consumer and Business Banking segment primarily provides financial products and services to consumer and commercial customers through the Company’s domestic branch network and digital banking platforms. This segment offers consumer and commercial deposits, mortgage and home equity loans, and other products and services. It also originates commercial loans for small- and medium-sized enterprises through the Company’s branch network. Other products and services provided by this segment include wealth management, private banking, treasury management, interest rate risk hedging and foreign exchange services.
The Commercial Banking segment primarily generates commercial loan and deposit products. Commercial loan products include CRE lending, construction finance, commercial business lending, working capital lines of credit, trade finance, letters of credit, affordable housing lending, asset-based lending, asset-backed finance, project finance, equipment financing, and loan syndication. Commercial deposit products and other financial services include treasury management, foreign exchange services and interest rate and commodity risk hedging.

The remaining centralized functions, including the corporate treasury activities of the Company, tax credit investment activity, eliminations of inter-segment amounts, and centrally managed departments, have been aggregated and included in the Treasury and Other segment.

The Company utilizes an internal reporting process to measure the performance of the three operating segments within the Company. The Company’s internal reporting process consists of certain allocation methodologies for revenues and expenses, and the internal funds transfer pricing (“FTP”) process. The FTP process is formulated with the goal of encouraging loan and deposit growth that is consistent with the Company’s overall profitability objectives, as well as providing a reasonable and consistent basis for the measurement of business segment net interest margins and profitability. The FTP process charges a cost to fund loans (“FTP charges for loans”) and allocates credits for funds provided from deposits (“FTP credits for deposits”) using internal FTP rates. FTP charges for loans are determined based on a matched cost of funds, which is tied to the pricing and term characteristics of the loans. FTP credits for deposits are based on matched funding credit rates, which are tied to the implied or stated maturity of the deposits. FTP credits for deposits reflect the long-term value generated by the deposits. The net spread between the total internal FTP charges and credits is recorded as part of net interest income in the Treasury and Other segment. The corporate treasury function within the Treasury and Other segment is responsible for the Company’s liquidity and interest rate management and manages the corporate interest rate risk exposure. The Company’s internal FTP assumptions and methodologies are reviewed at least annually to ensure that the process is reflective of current market conditions.

Each segment’s net interest income represents the difference between actual interest earned on assets and interest incurred on liabilities of the segment, adjusted for funding charges or credits through the Company’s FTP process. Noninterest income and noninterest expense directly attributable to a business segment are assigned to that segment. Loan charge-offs and provision for credit losses are recorded to the segments, where the loans are recorded. Significant corporate overhead expenses incurred by centralized support areas in the Treasury and Other segment are allocated to the Consumer and Business Banking and Commercial Banking segments based on the segment’s estimated usage factors including, but not limited to, full-time equivalent employees, net interest income, and loan and deposit volume. Amortization of tax credit and CRA investments and certain types of administrative expenses are generally not allocated to segments.
The following tables present the operating results and other key financial measures for the individual operating segments as of and for the years ended December 31, 2025, 2024 and 2023:
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2025
Net interest income before provision for (reversal of) credit losses
$1,079,288 $1,028,314 $445,027 $2,552,629 
Noninterest income120,779 218,177 40,271 379,227 
Total revenue before provision for (reversal of) credit losses
1,200,067 1,246,491 485,298 2,931,856 
Provision for (reversal of) credit losses
26,044 152,085 (18,129)160,000 
Compensation and employee benefits240,500 246,303 131,950 618,753 
Other noninterest expense (1)
229,833 157,616 40,194 427,643 
Total noninterest expense470,333 403,919 172,144 1,046,396 
Segment income before income taxes
703,690 690,487 331,283 1,725,460 
Segment net income$502,687 $493,508 $328,993 $1,325,188 
Average balances:
Loans$20,313,671 $34,000,936 $310,352 $54,624,959 
Deposits$33,384,458 $27,137,950 $4,326,953 $64,849,361 
As of December 31, 2025
Segment assets$21,384,121 $37,393,886 $21,656,990 $80,434,997 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2024
Net interest income before provision for (reversal of) credit losses
$1,152,033 $1,125,931 $752 $2,278,716 
Noninterest income108,773 197,780 28,665 335,218 
Total revenue before provision for (reversal of) credit losses
1,260,806 1,323,711 29,417 2,613,934 
Provision for (reversal of) credit losses
8,691 166,953 (1,644)174,000 
Compensation and employee benefits217,612 234,240 98,882 550,734 
Other noninterest expense (1)
234,494 161,969 10,876 407,339 
Total noninterest expense452,106 396,209 109,758 958,073 
Segment income (loss) before income taxes800,009 760,549 (78,697)1,481,861 
Segment net income$563,218 $535,652 $66,716 $1,165,586 
Average balances:
Loans$18,966,662 $32,996,221 $405,897 $52,368,780 
Deposits$30,815,912 $25,820,956 $3,036,171 $59,673,039 
As of December 31, 2024
Segment assets$20,084,814 $35,646,939 $20,244,722 $75,976,475 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2023
Net interest income (loss) before provision for credit losses$1,225,954 $1,116,013 $(29,713)$2,312,254 
Noninterest income103,210 168,502 21,400 293,112 
Total revenue (loss) before provision for credit losses1,329,164 1,284,515 (8,313)2,605,366 
Provision for credit losses21,454 100,391 3,155 125,000 
Compensation and employee benefits203,387 217,663 87,488 508,538 
Other noninterest expense (1)
261,406 158,949 91,703 512,058 
Total noninterest expense464,793 376,612 179,191 1,020,596 
Segment income (loss) before income taxes842,917 807,512 (190,659)1,459,770 
Segment net income (loss)$594,965 $570,153 $(3,957)$1,161,161 
Average balances:
Loans$17,739,984 $31,365,547 $439,605 $49,545,136 
Deposits$28,174,781 $23,304,066 $3,483,884 $54,962,731 
As of December 31, 2023
Segment assets$19,165,172 $35,020,106 $15,427,606 $69,612,884 
(1)The Consumer and Business Banking segment's other noninterest expense is primarily comprised of corporate overhead allocated expenses, occupancy and equipment expense, and other operating expenses. The Commercial Banking segment’s other noninterest expense is primarily comprised of corporate overhead allocated expenses, deposit account expense, and other operating expenses. The Treasury and Other segment's other noninterest expense is primarily comprised of amortization of tax credit and CRA investments, and other operating expenses, net of any corporate overhead expenses allocated to other segments.
v3.25.4
Parent Company Condensed Financial Statements
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Company Condensed Financial Statements Parent Company Condensed Financial Statements
The following tables present the Parent Company-only condensed financial statements:

CONDENSED BALANCE SHEET
December 31,
($ in thousands)20252024
ASSETS
Cash and cash equivalents
$664,002 $394,919 
Investments in subsidiaries:
Bank8,151,065 7,251,084 
Nonbank11,003 10,423 
Other assets130,535 125,552 
TOTAL $8,956,605 $7,781,978 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
Long-term debt$32,320 $32,001 
Other liabilities25,083 26,923 
Stockholders’ equity8,899,202 7,723,054 
TOTAL $8,956,605 $7,781,978 
CONDENSED STATEMENT OF INCOME
Year Ended December 31,
($ in thousands)202520242023
Dividends from subsidiaries:
Bank$750,000 $540,000 $704,000 
Nonbank66 127 322 
Other investment income (losses) (1)
2,115 (954)(2,738)
Other income714 31 — 
Total income752,895 539,204 701,584 
Interest expense on long-term debt2,527 4,507 10,889 
Compensation and employee benefits11,132 7,283 7,204 
Other expense (income) (2)
1,850 1,839 (1,086)
Total expense15,509 13,629 17,007 
Income before income tax benefit and equity in undistributed income of subsidiaries
737,386 525,575 684,577 
Income tax benefit3,510 4,143 5,844 
Undistributed earnings of subsidiaries, primarily bank584,292 635,868 470,740 
Net income$1,325,188 $1,165,586 $1,161,161 
(1)Includes $1 million in DC Solar recoveries for the year ended December 31, 2025.
(2)Includes $307 thousand and $3 million in DC Solar recoveries for the years ended December 31, 2025 and 2023, respectively.

CONDENSED STATEMENT OF CASH FLOWS
Year Ended December 31,
($ in thousands)202520242023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income$1,325,188 $1,165,586 $1,161,161 
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiaries, principally bank(584,292)(635,868)(470,740)
Deferred income tax expense62 2,788 948 
Net change in other assets(5,549)(6,912)(4,160)
Net change in other liabilities(1,686)(802)(47)
Other operating activities, net1,083 1,265 2,443 
Net cash provided by operating activities734,806 526,057 689,605 
CASH FLOWS FROM INVESTING ACTIVITIES
AFS debt securities:
Proceeds from maturities
1,945,000 — — 
Purchases
(1,944,333)— — 
Redemption of trust preferred securities— 3,558 — 
Other investing activities, net(732)(494)(95,095)
Net cash (used in) provided by investing activities(65)3,064 (95,095)
CASH FLOWS FROM FINANCING ACTIVITIES
Long-term debt:
Repayment of junior subordinated debt
— (116,558)— 
Common stock:
Proceeds from issuance pursuant to various stock compensation plans and agreements3,212 3,023 3,208 
Stock tendered for payment of withholding taxes(19,239)(14,877)(23,751)
Repurchase of common stock pursuant to the stock repurchase program(115,590)(143,082)(82,174)
Cash dividends paid(334,041)(308,478)(274,554)
Net cash used in financing activities(465,658)(579,972)(377,271)
Net increase (decrease) in cash and cash equivalents
269,083 (50,851)217,239 
Cash and cash equivalents, beginning of year394,919 445,770 228,531 
Cash and cash equivalents, end of year$664,002 $394,919 $445,770 
v3.25.4
Subsequent Events
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On January 22, 2026, the Company’s Board of Directors declared first quarter 2026 cash dividends for the Company’s common stock. The common stock cash dividend of $0.80 per share was paid on February 17, 2026 to stockholders of record as of February 2, 2026.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
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
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Information Security Program is supported by our three lines of defense model of risk management. The Information Security Team is the first line of defense under the Chief Information Security Officer and provides day-to-day cybersecurity operations including identification and reporting of internal and external threats, access control, data security, protective controls, detection of malicious or unauthorized activity, incident response, recovery planning, performance of vulnerability and third party information security assessments, and employee awareness and training programs. In addition, the Information Security Team works in coordination with the individual business lines that have direct and primary responsibility and accountability for identifying, controlling and monitoring cybersecurity risk embedded in their business activities.
The Information Security Team uses industry service providers for security operations, monitoring, investigation and incident response, and the Bank also conducts periodic assessments in collaboration with consulting firms with cybersecurity domain expertise. As the second line of defense, the ERM Team under the Chief Risk Officer independently monitors the cybersecurity risk framework across the Company, as well as the effectiveness of the Information Security Program, and third party vendors’ vulnerability and penetration tests against the Company’s network. Furthermore, the Third-Party Risk Management Team, in conjunction with the ERM Team and the Information Security Team, oversees, identifies, monitors, investigates and addresses material risks from cybersecurity threats associated with the Company’s use of third-party service providers. The Third-Party Risk Management Team is also part of the independent risk management function of the Bank and included in the second line of defense. The ERM Team reports the status of the annual assessment of the effectiveness of the Information Security Program to the Chief Risk Officer, who reports to the Board’s ROC. When applicable, the Company obtains Statement on Standards for Attestation Engagement No. 18 reports or equivalent reports for vendor products and services hosted by third parties. Internal Audit serves as the third line of defense and provides additional independent assurance and evaluates the effectiveness of cybersecurity risk management. In addition, the Company regularly engages independent external assessors to perform assessments of its cybersecurity control environment and operating effectiveness.

In addition, the Company uses several internal training methods, through annual mandatory courses on security and privacy for all employees, as well as multiple simulated phishing attacks and regularly providing information security awareness materials throughout the year. The Company also maintains cybersecurity insurance.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
The Company maintains an Information Security Program to support the management of cybersecurity risk as an integral component of the Company’s enterprise risk management (“ERM”) framework. The Information Security Program encompasses the Company’s cybersecurity policies and practices, which focus on prevention, detection, mitigation and recovery from cybersecurity incidents. In addition, as part of the Information Security Program, the Company has a Security Incident Response Policy and Plan to enable a coordinated response to protect the integrity, security and resiliency of the Company’s information systems, to mitigate the risk of cybersecurity incidents and to escalate information regarding certain cybersecurity incidents to the appropriate management personnel and Board members in a timely fashion. The Information Security Program follows the Cyber Risk Institute Profile, which is a framework aligned with regulatory expectations for managing cyber risk in financial institutions.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Board’s ROC has primary oversight responsibility for management’s efforts to mitigate cybersecurity risk and respond to cybersecurity incidents. The ROC receives quarterly cybersecurity reports, including any reportable incidents, and reviews and approves the Information Security Program at least annually or whenever significant changes are made to the program. These updates include information regarding management’s ongoing efforts to manage cybersecurity risk and the steps management has taken to address and mitigate the evolving cybersecurity threat environment. The ROC members include independent directors from the Board who have expertise in areas relevant to their responsibilities over cybersecurity, including senior leadership experience in financial services and information technology.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Board’s ROC has primary oversight responsibility for management’s efforts to mitigate cybersecurity risk and respond to cybersecurity incidents. The ROC receives quarterly cybersecurity reports, including any reportable incidents, and reviews and approves the Information Security Program at least annually or whenever significant changes are made to the program. These updates include information regarding management’s ongoing efforts to manage cybersecurity risk and the steps management has taken to address and mitigate the evolving cybersecurity threat environment. The ROC members include independent directors from the Board who have expertise in areas relevant to their responsibilities over cybersecurity, including senior leadership experience in financial services and information technology.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Board’s ROC has primary oversight responsibility for management’s efforts to mitigate cybersecurity risk and respond to cybersecurity incidents. The ROC receives quarterly cybersecurity reports, including any reportable incidents, and reviews and approves the Information Security Program at least annually or whenever significant changes are made to the program. These updates include information regarding management’s ongoing efforts to manage cybersecurity risk and the steps management has taken to address and mitigate the evolving cybersecurity threat environment. The ROC members include independent directors from the Board who have expertise in areas relevant to their responsibilities over cybersecurity, including senior leadership experience in financial services and information technology.
Cybersecurity Risk Role of Management [Text Block]
At the management level, the Information Technology Steering Committee has overall responsibility for identifying, assessing, and managing information security risks, including cybersecurity risk. The Information Technology Steering Committee provides cybersecurity reports periodically to the ROC and is comprised of the Company’s senior information technology, information security and third party risk management leaders, including the Chief Risk Officer and Chief Information Security Officer. The Chief Risk Officer is responsible for managing cybersecurity risk and coordinating with the Chief Information Security Officer to ensure the Company’s cybersecurity risk profile is managed in a manner consistent with its risk appetite. The Chief Risk Officer also provides periodic reports to the Board’s ROC, outlining the overall status of the Company’s Information Security Program and its compliance with regulatory guidelines, and coordinating and reporting on incident response. The Chief Information Security Officer is responsible for the day-to-day management of the Information Security Program and Security Incident Response Policy and Plan. The Chief Risk Officer has held various leadership roles at the bank, including over 13 years previously serving as the Company’s Chief Financial Officer. The Chief Information Security Officer has over 25 years of work experience in technology and cybersecurity at financial institutions. The majority of Information Security Team members have over 10 years of cybersecurity experience and cumulatively hold over 80 active professional certifications in related fields.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] At the management level, the Information Technology Steering Committee has overall responsibility for identifying, assessing, and managing information security risks, including cybersecurity risk. The Information Technology Steering Committee provides cybersecurity reports periodically to the ROC and is comprised of the Company’s senior information technology, information security and third party risk management leaders, including the Chief Risk Officer and Chief Information Security Officer. The Chief Risk Officer is responsible for managing cybersecurity risk and coordinating with the Chief Information Security Officer to ensure the Company’s cybersecurity risk profile is managed in a manner consistent with its risk appetite. The Chief Risk Officer also provides periodic reports to the Board’s ROC, outlining the overall status of the Company’s Information Security Program and its compliance with regulatory guidelines, and coordinating and reporting on incident response. The Chief Information Security Officer is responsible for the day-to-day management of the Information Security Program and Security Incident Response Policy and Plan.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Chief Risk Officer has held various leadership roles at the bank, including over 13 years previously serving as the Company’s Chief Financial Officer. The Chief Information Security Officer has over 25 years of work experience in technology and cybersecurity at financial institutions. The majority of Information Security Team members have over 10 years of cybersecurity experience and cumulatively hold over 80 active professional certifications in related fields.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
At the management level, the Information Technology Steering Committee has overall responsibility for identifying, assessing, and managing information security risks, including cybersecurity risk. The Information Technology Steering Committee provides cybersecurity reports periodically to the ROC and is comprised of the Company’s senior information technology, information security and third party risk management leaders, including the Chief Risk Officer and Chief Information Security Officer. The Chief Risk Officer is responsible for managing cybersecurity risk and coordinating with the Chief Information Security Officer to ensure the Company’s cybersecurity risk profile is managed in a manner consistent with its risk appetite. The Chief Risk Officer also provides periodic reports to the Board’s ROC, outlining the overall status of the Company’s Information Security Program and its compliance with regulatory guidelines, and coordinating and reporting on incident response. The Chief Information Security Officer is responsible for the day-to-day management of the Information Security Program and Security Incident Response Policy and Plan. The Chief Risk Officer has held various leadership roles at the bank, including over 13 years previously serving as the Company’s Chief Financial Officer. The Chief Information Security Officer has over 25 years of work experience in technology and cybersecurity at financial institutions. The majority of Information Security Team members have over 10 years of cybersecurity experience and cumulatively hold over 80 active professional certifications in related fields.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation — The accounting and reporting policies of the Company conform with the U.S. Generally Accepted Accounting Principles (“GAAP”), applicable guidelines prescribed by regulatory authorities and common practices in the banking industry. The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Financial Statements, income and expenses during the reporting period, and the related disclosures. Actual results could differ materially from those estimates. Certain items on the Consolidated Financial Statements and notes for the prior years have been reclassified to conform to the 2025 presentation.
Principles of Consolidation
Principles of Consolidation — The Consolidated Financial Statements in this Form 10-K include the accounts of East West and its subsidiaries that are majority owned and in which the Company has a controlling financial interest, and variable interest entities (“VIE”) in which the Company has determined to be the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. The Company determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a VIE.

For a VIE, a controlling financial interest is where the Company has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE. For an entity that does not meet the definition of a VIE, the entity is determined to be a voting interest entity. The Company consolidates a voting interest entity if it can exert control over the financial and operating policies of an investee, which can occur if the Company has a more than 50% voting interest in the entity. For unconsolidated entities, the Company uses the proportional amortization method (“PAM”), equity, cost or measurement alternative method based on the Company’s voting or economic interest.

East West has one wholly-owned subsidiary that is a statutory business trust (the “Trust”). In accordance with the guidance in Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 810, Consolidation, the Trust has not been consolidated by the Company.
Cash and Cash Equivalents
Cash and Cash Equivalents — Cash and cash equivalents include cash on hand, cash items in transit, cash due from the Federal Reserve Bank (“FRB”) of San Francisco and other financial institutions, money market funds, and federal funds sold with original maturities up to three months.
Interest-Bearing Deposits with Banks
Interest-Bearing Deposits with Banks — Interest-bearing deposits with banks include cash placed with other banks with original maturities greater than three months and less than one year.
Assets Purchased under Resale Agreements and Securities Sold under Repurchase Agreements Assets Purchased under Resale Agreements and Securities Sold under Repurchase Agreements — Resale agreements are recorded as receivables based on the values at which the securities or loans are acquired. Repurchase agreements are accounted for as collateralized financing transactions and recorded as liabilities based on the values at which the securities are sold. The Company monitors the values of the underlying assets collateralizing the resale and repurchase agreements, including accrued interest, and obtains or posts additional collateral in order to maintain the appropriate collateral requirements for the transactions.
Debt Securities and Equity Securities
Debt Securities — Debt securities are recorded on the Consolidated Balance Sheet as of their trade dates. The Company initially classifies its debt securities as trading securities, AFS or HTM debt securities based on management’s intention on the date of the purchase. Debt securities are purchased for liquidity and investment purposes, as part of asset/liability management and other strategic activities.

Debt securities for which the Company has the positive intention and ability to hold until maturity are classified as HTM and are carried at amortized cost, net of allowance for credit losses. Debt securities not classified as trading securities or HTM securities are classified as AFS. AFS debt securities are reported at fair value, net of the allowance for credit losses, with unrealized gains and losses recorded in AOCI, net of applicable income taxes. For details of the allowance for credit losses on debt securities, refer to the Allowance for Credit Losses on Available-for-Sale and Held-to-Maturity Debt Securities sections of this note. Interest income, including any amortization of premium or accretion of discount, is included in debt securities interest and dividend income in the Company’s Consolidated Statement of Income. The Company recognizes realized gains and losses on the sale of AFS debt securities in earnings, using the specific identification method.

Upon transfer of a debt security from the AFS to HTM category, the security’s new amortized cost is reset to fair value, reduced by any previous write-offs but excluding any allowance for credit losses. Unrealized gains or losses at the date of transfer of these securities continue to be reported in AOCI and are amortized into interest income over the remaining life of the securities as effective yield adjustments, in a manner consistent with the amortization or accretion of the original purchase premium or discount on the associated security. For transfers of securities from the AFS to HTM category, any allowance for credit losses that was previously recorded under the AFS model is reversed and an allowance for credit losses is subsequently recorded under the HTM debt security model. The reversal and re-establishment of the allowance for credit losses are recorded in the provision for credit losses.

Equity Securities — The Company’s equity securities include both marketable and non-marketable equity securities. Marketable equity securities with readily determinable fair values are recorded at fair value with unrealized gains and losses due to changes in fair value, and are included in Other investment income on the Consolidated Statement of Income. Marketable equity securities include mutual fund investments, which are included in Affordable housing partnership, tax credit and CRA investments, net on the Consolidated Balance Sheet.

Non-marketable equity securities including tax credit investments, and other equity investments that do not have readily determinable fair values are recorded in Affordable housing partnership, tax credit and CRA investments, net, and Other assets on the Consolidated Balance Sheet and are accounted for under one of the following accounting methods:
•Equity Method — When the Company has the ability to exercise significant influence over the investee.
•Proportional Amortization Method — For qualifying tax credit investments, the Company amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received, and recognizes the amortization in Income tax expense on the Consolidated Statement of Income.
•Cost Method — The cost method is applied to restricted equity securities held for membership and regulatory purposes, such as FRB of San Francisco and FHLB stock. These investments are held at their cost minus impairment. If impaired, the carrying value is written down to the fair value of the security.
•Measurement Alternative — This method is applied to all remaining non-marketable equity securities. These securities are carried at cost adjusted for impairment, if any, plus or minus observable price changes in orderly transactions of an identical or similar security of the same issuer.
The Company’s impairment review for equity method, cost method and measurement alternative securities typically includes an analysis of the facts and circumstances of each security, the intent or requirement to sell the security, the expectations of cash flows, capital needs and the viability of its business model. For equity and cost method investments, the Company reduces the asset’s carrying value when the Company considers declines in value to be other-than-temporary impairment (“OTTI”). For securities accounted for under the measurement alternative, the Company reduces the asset value when the fair value is less than the carrying value, without the consideration of recovery.
Loans Held-for-Sale
Loans Held-for-Sale — Loans are initially classified as loans held-for-sale when they are individually identified as being available for immediate sale and management has committed to a formal plan to sell them. Loans held-for-sale are carried at lower of cost or fair value. Subject to periodic review under the Company’s evaluation process, including asset/liability and credit risk management, the Company may transfer certain loans from held-for-investment to held-for-sale measured at lower of cost or fair value. Any write-downs in the carrying amount of the loan at the date of transfer are recorded as charge-offs to the ALLL. Loan origination fees on loans held-for-sale, net of certain costs in processing and closing the loans, are deferred until the time of sale and are included in the periodic determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale. A valuation allowance is established if the fair value of such loans is lower than their cost. If the loan or a portion of the loan cannot be sold, it is subsequently transferred back to the loans held-for-investment portfolio from the loans held-for-sale portfolio at the lower of cost or fair value on the transfer date.
Loans Held-for-Investment
Loans Held-for-Investment — At the time of commitment to originate or purchase a loan, the loan is determined to be held-for-investment if it is the Company’s intent to hold the loan to maturity or for the foreseeable future. Loans held-for-investment are stated at their outstanding principal, reduced by an ALLL and net of deferred loan fees or costs, or unearned fees on originated loans, net of unamortized premiums or unaccreted discounts from purchased loans. Nonrefundable fees and direct costs associated with the origination or purchase of loans are deferred and netted against outstanding loan balances. The deferred net loan fees and costs are recognized in interest income as an adjustment to yield over the loan term using the effective interest method. Discounts/premiums on purchased loans are accreted/amortized to interest income using the effective interest method over the remaining contractual maturity. Interest on loans is calculated using the simple-interest method on daily balances of the principal amounts outstanding. Generally, loans are placed on nonaccrual status when they become 90 days past due or more. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates. Loans are also placed on nonaccrual status when management believes, after considering economic and business conditions and collection efforts, that the borrower’s financial condition is such that full collection of principal or interest becomes uncertain, regardless of the length of past due status. Once a loan is placed on nonaccrual status, interest accrual is discontinued and all unpaid accrued interest is reversed against interest income. Interest payments received on nonaccrual loans are reflected as a reduction of principal and not as interest income. A loan is returned to accrual status when the borrower has demonstrated a satisfactory payment trend subject to management’s assessment of the borrower’s ability to repay the loan.
Loan Modifications
Loan Modifications — The Company applies the general loan modification guidance provided in ASC 310-20 to all loan modifications, including modifications made to borrowers experiencing financial difficulty. Under ASC 310-20-35-9 to 310-20-35-10, a modification is treated as a new loan only if the following two conditions are met: (1) the terms of the new loan are at least as favorable to the Company as the terms for comparable loans to other customers with similar collection risks; and (2) modifications to the terms of the original loan are more than minor. If either condition is not met, the modification is accounted for as the continuation of the existing loan with any effect of the modification treated as a prospective adjustment to the loan’s effective interest rate. A modification may vary by program and by borrower-specific characteristics, and may include rate reductions, principal forgiveness, term extensions, and payment delays, and is intended to minimize the Company’s economic loss and to avoid foreclosure or repossession of collateral. The Company applies the same credit loss methodology it uses for similar loans that were not modified. ASC 310-10-50-42 requires disclosures of modification made to borrowers experiencing financial difficulty in the forms of principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions or a combination of these types of modifications.
Allowance for Credit Losses
Allowance for Loan and Lease Losses — The ALLL is established as management’s estimate of expected credit losses inherent in the Company’s lending activities; it is increased by the provision for credit losses and decreased by net charge-offs. The ALLL is evaluated quarterly by management based on regular reviews of the collectability of the Company’s loans, and more often if deemed necessary. The Company develops and documents the ALLL methodology at the portfolio segment level. The commercial loan portfolio is comprised of commercial and industrial (“C&I”), commercial real estate (“CRE”), multifamily residential, and construction and land loans; and the consumer loan portfolio is comprised of single-family residential, home equity lines of credit (“HELOCs”), and other consumer loans.

The ALLL represents the portion of a loan’s amortized cost basis that the Company does not expect to collect due to anticipated credit losses over the loan’s contractual life, adjusted for prepayments. The Company measures the expected loan losses on a collective pool basis when similar risk characteristics exist. Models consisting of quantitative and qualitative components are designed for each pool to develop the expected credit loss estimates. Reasonable and supportable forecast periods vary by loan portfolio. The Company has adopted lifetime loss rate models for the portfolios, which use historical loss rates and forecast economic variables to calculate the expected credit losses for each loan pool. When loans do not share similar risk characteristics, the Company evaluates the loan for expected credit losses on an individual basis. Individually assessed loans include nonaccrual loans. The Company evaluates loans for expected credit losses on an individual basis if, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the original contractual terms of the loan agreement. When the loan is deemed uncollectible, it is the Company’s policy to charge off the uncollectible amount against the ALLL.

The amortized cost of loans held-for-investment excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election to not recognize an ALLL for accrued interest receivables as the Company reverses accrued interest if a loan is on nonaccrual status.

The ALLL is reported on the Consolidated Balance Sheet and the Provision for credit losses is reported on the Consolidated Statement of Income.

Allowance for Unfunded Credit Commitments — The allowance for unfunded credit commitments includes reserves provided for unfunded loan commitments, letters of credit, standby letters of credit (“SBLCs”) and recourse obligations for loans sold. The Company estimates the allowance for unfunded credit commitments over the contractual period in which the entity is exposed to credit risk via a present contractual obligation to extend credit. Within the period of credit exposure, the Company considers both the likelihood that funding will occur, and the expected credit losses on the commitments that are expected to fund over their estimated lives.

The allowance for unfunded credit commitments is maintained at a level believed by management to be sufficient to absorb expected credit losses related to unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities. For all off-balance sheet instruments and commitments, the unfunded credit exposure is calculated using assumptions based on the Company's historical utilization experience in related portfolio segments. Loss rates are applied to the calculated exposure balances to estimate the allowance for unfunded credit commitments. Other elements such as credit risk factors for loans outstanding, terms and expiration dates of the unfunded credit facilities, and other pertinent information are considered to determine the adequacy of the allowance.

The allowance for unfunded credit commitments is included in the Accrued expenses and other liabilities on the Consolidated Balance Sheet. Changes to the allowance for unfunded credit commitments are included in Provision for credit losses on the Consolidated Income Statements.
Allowance for Credit Losses on Available-for-Sale Debt Securities — For each reporting period, each AFS debt security that is in an unrealized loss position is individually analyzed as part of the Company’s ongoing assessments to determine whether a fair value below the amortized cost basis has resulted from a credit loss or other factors. The initial indicator of impairment is a decline in fair value below the amortized cost of the AFS debt security, excluding accrued interest. The Company first considers whether there is a plan to sell the AFS debt security or it is more-likely-than-not that it will be required to sell the AFS debt security before recovery of the amortized cost. In determining whether an impairment is due to credit related factors, the Company considers the severity of the decline in fair value, nature of the security, the underlying collateral, the financial condition of the issuer, changes in the AFS debt security’s ratings and other qualitative factors. For AFS debt securities that are guaranteed or issued by the U.S. government, or government-sponsored enterprises of high credit quality, the Company applies a zero credit loss assumption.

When the Company does not intend to sell the impaired AFS debt security and it is more-likely-than-not that the Company will not be required to sell the impaired debt security prior to recovery of its amortized cost basis, the credit component of the unrealized loss of the impaired AFS debt security is recognized as an allowance for credit losses, with a corresponding Provision for credit losses on the Consolidated Statement of Income and the non-credit component is recognized in Other comprehensive income (loss) on the Consolidated Statement of Comprehensive Income, net of applicable taxes. At each reporting period, the Company increases or decreases the allowance for credit losses as appropriate, while limiting reversals of the allowance for credit losses to the extent of the amounts previously recorded. If the Company intends to sell the impaired debt security or it is more-likely-than-not that the Company will be required to sell the impaired debt security prior to recovering its amortized cost basis, the entire impairment amount is recognized as an adjustment to the debt security’s amortized cost basis, with a corresponding Provision for credit losses on the Consolidated Statement of Income.

The amortized cost of the Company’s AFS debt securities excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivables on AFS debt securities as the Company reverses any accrued interest if a debt security is impaired. As each AFS debt security has a unique security structure, where the accrual status is clearly determined when certain criteria listed in the terms are met, the Company assesses the default status of each security as defined by the debt security’s specific security structure.

Allowance for Credit Losses on Held-to-Maturity Debt Securities — For each major HTM debt security type, the allowance for credit losses is estimated collectively for groups of securities with similar risk characteristics. For securities that do not share similar risk characteristics, the losses are estimated individually. The Company applies a zero credit loss assumption to certain HTM debt securities, including debt securities that are either guaranteed or issued by the U.S. government or government-sponsored enterprises, are highly rated by nationally recognized statistical rating organizations (“NRSROs”), and have a long history of no credit losses. Any expected credit loss is recorded through the allowance for credit losses and deducted from the amortized cost basis of the security, reflecting the net amount the Company expects to collect.

The amortized cost of the Company’s HTM debt securities excludes accrued interest, which is included in Other assets on the Consolidated Balance Sheet. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivables on HTM debt securities, as the Company reverses any accrued interest against interest income if a debt security is placed on nonaccrual status. The criteria used to place HTM debt securities on nonaccrual are largely similar to those described for loans. Any cash collected on nonaccrual HTM debt securities is applied to reduce the security’s amortized cost basis and not as interest income. Generally, the Company returns an HTM security to accrual status when all delinquent interest and principal become current under the contractual terms of the security, and the collectability of remaining principal and interest is no longer doubtful.
Allowance for Collateral-Dependent Financial Assets — A financial asset is considered collateral-dependent if repayment is expected to be provided substantially through the operation or sale of the collateral. The allowance for credit losses is measured on an individual basis for collateral-dependent financial assets and determined by comparing the fair value of the collateral less the cost to sell, to the amortized cost basis of the related financial asset at the reporting date. Other than loans, collateral-dependent financial assets could also include resale agreements. In arrangements which the borrower must continually adjust the collateral securing the asset to reflect changes in the collateral’s fair value (e.g., resale agreements), the Company estimates the expected credit losses on the basis of the unsecured portion of the amortized cost as of the balance sheet date. If the fair value of the collateral is equal to or greater than the amortized cost of the resale agreement, the expected losses would be zero. If the fair value of the collateral is less than the amortized cost of the asset, the expected losses are limited to the difference between the fair value of the collateral and the amortized cost basis of the resale agreement.

Allowance for Purchased Credit Deteriorated Assets — Purchased assets that have experienced a more-than-insignificant deterioration in credit quality since origination are deemed Purchased Credit Deteriorated (“PCD”) assets. For PCD HTM debt securities and PCD loans, the company records the allowance for credit losses by grossing up the initial amortized cost, which includes the purchase price and the allowance for credit losses. The expected credit losses of PCD debt securities are measured at the individual security level. The expected credit losses for PCD loans are measured based on the loan’s unpaid principal balance. Under this approach, there is no income statement impact from the acquisition. Subsequent changes in the allowance for credit losses on PCD assets will be recognized in Provision for credit losses on the Consolidated Statement of Income. The non-credit discount or premium will be accreted to interest income based on the effective interest rate on the PCD assets determined after the gross-up for the allowance for credit losses. At the acquisition date, the initial allowance for credit losses determined on a collective basis is allocated to individual assets in accordance with ASC 326-20-30-13. Subsequent changes in the allowance for credit losses on PCD assets are recognized as Provision for credit losses (or reversal of provision for credit losses) on the Consolidated Statement of Income.
Allowance for Credit Losses

The Company has a current expected credit losses (“CECL”) framework for all financial assets measured at amortized cost and certain off-balance sheet credit exposures. The Company’s allowance for credit losses, which includes both the ALLL and the allowance for unfunded credit commitments, is calculated with the objective of maintaining a reserve sufficient to absorb losses inherent in our credit portfolios. The measurement of the allowance for credit losses is based on management’s best estimate of lifetime expected credit losses, periodic evaluation of the loan portfolio, lending-related commitments and other relevant factors.

The allowance for credit losses is deducted from the amortized cost basis of a financial asset or a group of financial assets so that the balance sheet reflects the net amount the Company expects to collect. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred fees and costs, and escrow advances. Subsequent changes in expected credit losses are recognized in net income as a provision for, or a reversal of, credit loss expense.

The allowance for credit losses estimation involves procedures to consider the unique risk characteristics of the portfolio segments. The majority of the Company’s credit exposures that share risk characteristics with other similar exposures are collectively evaluated. The collectively evaluated loans include performing loans and unfunded credit commitments. If an exposure does not share risk characteristics with other exposures, the Company generally estimates expected credit losses on an individual basis.

ALLL for Collectively Evaluated Loans

The allowance for collectively evaluated loans consists of a quantitative component that assesses the different risk factors considered in our models and a qualitative component that considers risk factors external to the models. Each of these components are described below.

Quantitative Component — The Company applies quantitative methods to estimate ALLL by considering a variety of factors such as historical loss experience, the current credit quality of the portfolio, and an economic outlook over the life of the loan. The Company incorporates forward-looking information using macroeconomic scenarios which include variables that are considered key drivers of increases and decreases in credit losses. The Company utilizes a probability-weighted, multiple-scenario forecast approach. These scenarios may consist of a base forecast representing management's view of the most likely outcome, combined with downside or upside scenarios reflecting possible worsening or improving economic conditions. The quantitative models incorporate a probability-weighted calculation of these macroeconomic scenarios over a reasonable and supportable forecast period. If the life of the loans extends beyond the reasonable and supportable forecast period, the Company will consider historical experience or long-run macroeconomic trends over the remaining life of the loans to estimate the ALLL.
There were no changes to the reasonable and supportable forecast period, and no changes to the reversion to the historical loss experience method in 2025 and 2024.

The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&IAge percentage, size at origination, delinquency status, sector and risk ratingUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, GDP, and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and Home Price Indices
Other consumerLoss rate approachImmaterial - Macroeconomic variables are included in the qualitative estimate.

Quantitative Component — ALLL for the Commercial Loan Portfolio

The Company’s C&I lifetime loss rate model estimates the loss rate expected over the life of a loan. This loss rate is applied to the amortized cost basis, excluding accrued interest receivable, to determine expected credit losses. The lifetime loss rate model’s reasonable and supportable period spans eight quarters, thereafter, immediately reverting to the historical average loss rate, expressed through the loan-level lifetime loss rate.

To generate estimates of expected loss at the loan level for CRE, multifamily residential, and construction and land loans, projected probabilities of default (“PDs”) and loss given defaults (“LGDs”) are applied to the estimated exposure at default, considering the term and payment structure of the loan. The forecast of future economic conditions returns to long-run historical economic trends within the reasonable and supportable period. To estimate the life of a loan under both models, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience.

Quantitative Component — ALLL for the Consumer Loan Portfolio

For single-family residential and HELOC loans, projected PDs and LGDs are applied to the estimated exposure at default, considering the term and payment structure of the loan, to generate estimates of expected loss at the loan level. The forecast of future economic conditions returns to long-run historical economic trends after the reasonable and supportable period. To estimate the life of a loan for the single-family residential and HELOC loan portfolios, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience. For other consumer loans, the Company uses a loss rate approach.

Qualitative Component — The Company considers the following qualitative factors in the determination of the collectively evaluated allowance if these factors have not already been captured by the quantitative model. Such qualitative factors may include, but are not limited to:
–loan growth trends;
–the volume and severity of past due financial assets, and criticized or adversely classified financial assets;
–the Company’s lending policies and procedures, including changes in lending strategies, underwriting standards, collection, write-off and recovery practices;
–knowledge of a borrower’s operations;
–the quality of the Company’s credit review system;
–the experience, ability and depth of the Company’s management and associates;
–the effect of other external factors such as the regulatory and legal environments, or changes in technology;
–actual and expected changes in international, national, regional, and local economic and business conditions in which the Company operates; and
–risk factors in certain industry sectors not captured by the quantitative models.
The magnitude of the impact of these factors on the Company’s qualitative assessment of the allowance for credit losses changes from period to period according to changes made by management in its assessment of these factors. The extent to which these factors change may depend on whether they are already reflected in quantitative loss estimates during the current period and the extent to which changes in these factors diverge from period to period.

While the Company’s allowance methodologies strive to reflect all relevant credit risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between expected and actual outcomes. The Company may hold additional qualitative reserves that are designed to provide coverage for losses attributable to such risk.

ALLL for Individually Evaluated Loans

When a loan no longer shares similar risk characteristics with other loans, such as in the case of certain nonaccrual loans, the Company estimates the ALLL on an individual loan basis. The ALLL for individually evaluated loans is measured as the difference between the recorded value of the loans and their fair value. For loans evaluated individually, the Company uses one of three different asset valuation measurement methods: (1) the fair value of collateral less costs to sell; (2) the present value of expected future cash flows; or (3) the loan's observable market price. If an individually evaluated loan is determined to be collateral dependent, the Company applies the fair value of the collateral less costs to sell method. If an individually evaluated loan is determined not to be collateral dependent, the Company uses the present value of future cash flows or the observable market value of the loan.
•Collateral-Dependent Loans — The allowance of a collateral-dependent loan is limited to the difference between the recorded value and fair value of the collateral less cost of disposal or sale.
Premises and Equipment, Net
Premises and Equipment, Net — The Company’s premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed based on the straight-line method over the estimated useful lives of the various classes of assets. The ranges of estimated useful lives for the principal classes of assets are as follows:
Premises and EquipmentUseful Lives
Buildings 25 years
Building improvements
15 years
Furniture, fixtures and equipment, including computer equipment
3 to 7 years
Leasehold improvementsRemaining term of lease or useful life, whichever is shorter

The Company reviews its long-lived assets for impairment annually, or when events or changes in circumstances indicate that the carrying amounts of these assets may not be recoverable. An asset is considered impaired when the fair value, which is the expected undiscounted cash flows over the remaining useful life, is less than the net book value. The excess of the net book value over its fair value is charged as impairment loss to noninterest expense.
Goodwill
Goodwill — Goodwill represents the excess of the purchase price over the fair value of net assets acquired in an acquisition. Goodwill is tested for impairment on an annual basis as of December 31, or more frequently if an event occurs or circumstances change that indicate a potential impairment at the reporting unit level. The Company assesses goodwill for impairment at each operating segment level. The Company organizes its operations into three reporting segments: (1) Consumer and Business Banking; (2) Commercial Banking; and (3) Treasury and Other. For information on how the reporting units are identified and the components are aggregated, see Note 17 — Business Segments to the Consolidated Financial Statements in this Form 10-K. The Company has the option to perform a qualitative assessment of goodwill or elect to bypass the qualitative test and proceed directly to a quantitative test. If the Company performs a qualitative assessment of goodwill to test for impairment and concludes it is more likely than not that a reporting unit’s fair value is greater than its carrying value, quantitative tests are not required. If the qualitative analysis indicates that it is more likely than not that a reporting unit’s fair value is less than its carrying value, the Company is required to perform a quantitative assessment to determine if there is goodwill impairment. Factors considered in the qualitative assessments include but are not limited to macroeconomic conditions, industry and market considerations, financial performance of the respective operating segment and other relevant entity- and reporting-unit specific considerations. A quantitative valuation involves determining the fair value of each reporting unit and comparing the fair value to its corresponding carrying value. Goodwill impairment loss is recorded as a charge to noninterest expense and an adjustment to the carrying value of goodwill. Subsequent reversals of goodwill impairment are not allowed.
The Company’s goodwill impairment test is performed annually, as of December 31, or more frequently if events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying value.
Derivatives
Derivatives — As part of its asset/liability management strategy, the Company uses derivative financial instruments to mitigate exposure to interest rate and foreign currency risks, and to assist customers with their risk management objectives. Derivatives utilized by the Company primarily include swaps, forwards and option contracts. Derivative instruments are included in Other assets or Accrued expenses and other liabilities on the Consolidated Balance Sheet at fair value. All derivatives designated as fair value hedges and hedges of the net investments in certain foreign operations are linked to specific hedged items or to groups of specific assets and liabilities on the Consolidated Balance Sheet. Cash flow hedges are linked to the forecasted transactions related to a recognized asset/liability or to groups of recognized assets/liabilities. The related cash flows impacts of derivatives are recognized on the Cash flows from operating activities section on the Consolidated Statement of Cash Flows.

The Company uses accounting hedges based on the exposure being hedged as either fair value hedges, cash flow hedges or hedges of the net investments in certain foreign operations. For fair value hedges of interest rate risk, changes in fair value of derivatives are reported in the same line item where the earnings effect of the hedged item is presented, as Interest expense or Interest and dividend income on the Consolidated Statement of Income. Changes in fair value of derivatives designated as hedges of the net investments in foreign operations are recorded as a component of AOCI. For cash flow hedges of floating-rate interest payments or receipts, the change in the fair value of hedges is recognized in AOCI on the Consolidated Balance Sheet and reclassified to earnings in the same period when the hedged cash flows impact earnings. The changes in the fair value of the hedging instrument are recorded in the same income statement line item as the hedged item’s expense or income is recorded. For example, fair value changes of hedges on borrowings are recorded within Interest expense, and fair value changes of hedges on loan assets are recorded as interest income within Interest and dividend income on the Consolidated Statements of Income.

To qualify as an accounting hedge under the hedge accounting rules (versus an economic hedge where hedge accounting is not sought), a derivative must be highly effective in offsetting the risk designated as being hedged at the inception and on an ongoing basis. The Company evaluates the hedge effectiveness and formally documents its hedging relationships at inception, including the identification of the hedging instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction at the time the derivative contract is executed. Subsequent to inception, on a quarterly basis, the Company assesses whether the derivatives used in hedging transactions are highly effective in offsetting changes in the fair value of the hedged items or the cash flows of attributable hedged risks. The quarterly assessment is performed on both a prospective basis (to reconfirm forward-looking expectations that the hedge will be highly effective) and a retrospective basis (to determine whether the hedging relationship was highly effective).
The Company discontinues hedge accounting prospectively when (i) a derivative is no longer highly effective in offsetting the risk being hedged; (ii) a derivative expires, or is sold, terminated or exercised, or (iii) the Company determines that designation of a derivative as a hedge is no longer appropriate. If a fair value hedge is discontinued, the derivative will continue to be recorded on the Consolidated Balance Sheet at fair value with changes in fair value recognized on the Consolidated Statement of Income. When the hedged net investment is discontinued, any amounts that have not yet been recognized in earnings remain in AOCI until the net investment is either sold or substantially liquidated where the changes in the fair value of the derivatives are reclassified out of AOCI into Foreign exchange income on the Consolidated Statement of Income. If a cash flow hedge is discontinued but the hedged forecasted cash flow is still expected to happen, the derivative net gain or loss will remain in AOCI and be reclassified into earnings in the periods in which the hedged forecasted cash flow affects earnings. If a cash flow hedge is discontinued and it becomes probable that the forecasted cash flow is not expected to happen, the derivative net gain or loss will be reclassified into earnings immediately.

The Company also offers various interest rate, commodity and foreign exchange derivative products to customers. These derivative contracts are recorded at fair value with changes in fair value recorded in Customer derivative income or Foreign exchange income on the Consolidated Statement of Income.

As part of its loan origination process, the Company may periodically receive equity warrants to purchase preferred and/or common stock of the public or private companies to which it provides loans. Separately, the Company granted performance-based restricted stock units (“RSUs”) as part of its consideration for an investment made during the third quarter of 2023. The vesting of these performance-based RSUs is contingent on the investee meeting certain financial performance targets during the future performance period. These equity contracts are accounted for as derivatives and recorded at fair value in Other assets or Accrued expenses and other liabilities on the Consolidated Balance Sheet with changes in fair value recorded in Lending fees, for equity warrants related to the loan origination process, or Other investment income, for performance-based RSU’s, on the Consolidated Statement of Income.

The Company is exposed to counterparty credit risk, which is the risk that counterparties to the derivative contracts do not perform as expected. Valuation of derivative assets and liabilities reflect the value of the instrument inclusive of the nonperformance risk. The Company uses master netting arrangements to mitigate counterparty credit risk in derivative transactions. To the extent the derivatives are subject to master netting arrangements, the Company takes into account the impact of master netting arrangements that allow the Company to set off all derivative contracts executed with the same counterparty on a net basis, and to offset the net derivative position with the related cash and securities collateral. The Company elects to offset derivative transactions with the same counterparty on the Consolidated Balance Sheet when a derivative transaction has a legally enforceable master netting arrangement and when it is eligible for netting under ASC 210-20-45-1, Balance Sheet Offsetting: Netting Derivative Positions on Balance Sheet. Derivative balances and related cash collateral are presented net on the Consolidated Balance Sheet. In addition, the Company applies the Settlement to Market treatment for the cash variation margin received/pledged on our interest rate and commodity contracts cleared through certain centrally cleared counterparties. As a result, derivative balances with these counterparties are considered settled by the variation margin.
Fair Value
Fair Value — The Company records or discloses certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or the price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value of financial instruments, the Company uses various methods including market and income approaches. Based on these approaches, the Company utilizes certain assumptions that market participants would use in pricing an asset or a liability. These inputs can be readily observable, market corroborated or generally unobservable. Fair value measurements are based on the exit price notion that maximizes the use of observable inputs and minimizes the use of unobservable inputs. However, for certain instruments, the Company must utilize unobservable inputs in determining fair value due to the lack of observable inputs in the market, which requires greater judgment in the measurement of fair value.

All inputs, whether observable or unobservable, are ranked in accordance with a prescribed fair value hierarchy that assigns the highest priority to quoted prices in active markets and the lowest priority to prices derived from data lacking transparency. The Company’s assets and liabilities are classified in their entirety based on the lowest level of input that is significant to their fair value measurements. The fair value of the Company’s assets and liabilities is classified and disclosed in one of the following three categories:
•Level 1 — Valuation is based on quoted prices for identical instruments traded in active markets.
•Level 2 — Valuation is based on quoted prices for similar instruments traded in active markets; quoted prices for identical or similar instruments traded in markets that are not active; and model-derived valuations whose inputs are observable and can be corroborated by market data.
•Level 3 — Valuation is based on significant unobservable inputs for determining the fair value of assets or liabilities. These significant unobservable inputs reflect assumptions that market participants may use in pricing the assets or liabilities.
Stock-Based Compensation
Stock-Based Compensation — The Company grants time-based RSUs, which include service conditions for vesting. RSUs that vest in the form of shares of the Company’s common stock are classified as equity. Compensation cost for these time-based awards is based on the quoted market price of the Company’s common stock at the grant date. RSUs that will be settled in cash instead of shares are liability classified awards and compensation cost for these awards is adjusted to fair value based on changes in the Company’s stock price up to the settlement date. In addition, the Company grants performance-based RSUs, which contain additional performance goals and market conditions that are required to be met in order for the awards to vest. Compensation expense for these performance-based RSUs is based on the grant-date fair value considering both performance and market conditions. Subsequently, the Company evaluates the probable outcome of the performance conditions quarterly and makes cumulative adjustments for current and prior periods in compensation expense in the period of change. Market conditions subsequent to the grant date have no impact on the amount of compensation expense.
Compensation cost is amortized on a straight-line basis over the requisite service period for the entire award, reduced by expected forfeitures. Effective third quarter 2025, compensation cost related to awards granted to employees who meet certain age plus years-of-service requirements (“retirement-eligible employees”) is accrued over the service period required to earn the award prior to the grant date, in accordance with ASC 718-10-55-108. This change in the timing of recognition for awards that were granted to or are expected to be granted to retirement-eligible employees resulted in $31 million of additional compensation expense in 2025. Forfeitures are estimated at the time of grant and are updated quarterly. If the estimated forfeitures are revised, a cumulative effect of changes in estimated forfeitures for the current and prior periods is recognized in compensation expense in the period of change. Excess tax benefits and deficiencies on share-based payment awards are recognized within Income tax expense on the Consolidated Statement of Income.
Revenue from Contracts with Customers
Revenue from Contracts with Customers — The Company recognizes two primary types of revenue on its Consolidated Statement of Income: Net interest income and Noninterest income. The Company’s revenue from contracts with customers consists of service charges and fees related to deposit accounts, card income and wealth management fees. These revenue streams as described below comprised 43%, 43% and 41% of total noninterest income for the years ended December 31, 2025, 2024 and 2023, respectively.
•Deposit Service Charges and Related Fee Income — The Company offers a range of deposit products to individuals and businesses, which includes savings, money market, checking and time deposit accounts. In addition to ongoing maintenance charges, treasury management and business account analysis services are offered to commercial deposit customers. Other optional services such as various in-branch services, automated teller machine/debit card usage, wire transfer services or check orders are also offered. The monthly account fees may vary with the amount of average monthly deposit balances maintained, or the Company may charge a fixed monthly account maintenance fee if certain average balances are not maintained. In addition, each time a deposit customer selects an optional service, the Company may earn transaction fees, generally recognized by the Company at the point when the transaction occurs. For business analysis accounts, commercial deposit customers receive an earnings credit based on their account balance, which can be used to offset the cost of banking and treasury management services. Business analysis accounts that are assessed fees in excess of earnings credits received are typically charged at the end of each month, after all transactions are known and the credits are calculated. Deposit service charges and related fee income are recognized in all operating segments and included in Commercial and consumer deposit-related account fees on the Consolidated Statement of Income.
•Wealth Management Fees — The Company provides investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies and risk management strategies. The fees the Company earns are variable and are generally received monthly. The Company recognizes revenue for the services performed at quarter-end based on actual transaction details received from the broker-dealer with whom the Company engages. Wealth management fees are recognized in both consumer and business banking, and commercial banking segments.
•Card Income — Card income primarily consists of merchant referral fees where the Company provides marketing and referral services to acquiring banks for merchant card processing services and earns variable referral fees based on transaction activities. The Company satisfies its performance obligation over time as the Company identifies, solicits, and refers business customers who are provided such services. Card income is recognized in the consumer and business banking, and commercial banking segments and is included in Commercial and consumer deposit-related fees on the Consolidated Statement of Income.
Income Taxes
Income Taxes — The Company files consolidated federal income tax returns, foreign tax returns, and various combined and separate company state tax returns. The calculation of the Company’s income tax provision and related tax accruals requires the use of estimates and judgments. Income tax expense consists of two components: current and deferred. Current tax expense represents taxes to be paid or refunded for the current period and includes income tax expense related to our uncertain tax positions. Income tax liabilities (receivables) represent the estimated amounts due to (due from) the various taxing jurisdictions where the Company has established a tax presence and are reported in Accrued expenses and other liabilities or Other assets on the Consolidated Balance Sheets. Deferred tax expense results from changes in deferred tax assets and liabilities between periods, and is determined using the balance sheet method. Under the balance sheet method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities. Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards and tax credit carryforwards. Management regularly reviews the Company’s tax positions and deferred tax balances. In concluding whether a valuation allowance is required, the Company considers all available evidence, both positive and negative, based on the more-likely-than-not criteria that such assets will be realized. Factors considered in this analysis include the Company’s ability to generate future taxable income, implement tax-planning strategies (as defined in ASC 740, Income Taxes) and utilize taxable income from prior carryback years (if such carryback is permitted under the applicable tax law), as well as future reversals of existing taxable temporary differences. To the extent a deferred tax asset is no longer expected more-likely-than-not to be realized, a valuation allowance is established. Deferred tax assets net of deferred tax liabilities are included in Other assets on the Consolidated Balance Sheet.

The Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in an income tax return. Uncertain tax positions that meet the more-likely-than-not recognition threshold are measured to determine the amount of benefit to recognize. An uncertain tax position is measured at the largest amount of benefit that management believes has a greater than 50% likelihood of realization upon settlement. Tax benefits not meeting our realization criteria represent unrecognized tax benefits. The Company establishes a liability for potential taxes, interest and penalties related to uncertain tax positions based on facts and circumstances, including the interpretation of existing law, new judicial or regulatory guidance, and the status of tax audits.

The Company uses the PAM for affordable housing partnership investments, whereby the associated tax credits are recognized as a reduction to tax expense. Upon the adoption of ASU 2023-02 on January 1, 2024, the Company also began applying the PAM to new markets, historic, production and renewable energy tax credit investments. The Company also holds investments in other tax credit investments using either equity method or the measurement alternative method of accounting. These tax credits are recognized on the Consolidated Financial Statements to the extent they are utilized on the Company’s income tax returns in the year the credit arises under the flow through method of accounting.

From time to time, the Company purchases tax credits. The purchased credit is either recorded as an adjustment to income taxes refundable (payable) or as a deferred tax asset, or if the purchased credit is expected to be carried forward to be utilized on future income tax returns, the difference between the purchase price, including direct costs to acquire the credit, and the purchased tax credit is recognized as a deferred credit. The deferred credit is recognized in income tax expense in proportion to the reversal of the associated deferred tax asset.
Earnings Per Share
Earnings Per Share — Basic EPS is computed by dividing net income by the weighted-average number of outstanding common shares. Outstanding common shares include contingently issuable shares when the contingent condition has been satisfied. Employee share-based payment awards in the form of shares that vest when an employee retires or become retirement-eligible are treated as contingently issuable shares. Diluted EPS is computed by taking net income, adjusted for fair value changes of liability-classified equity contracts that are share-settled, divided by the weighted-average number of common shares outstanding during each period, plus any incremental dilutive common share equivalents calculated for outstanding time- and performance-based RSUs and contingently issuable shares computed using the treasury stock method.
Foreign Currency Translation
Foreign Currency Translation — When the functional currency of a foreign operation differs from the Company’s reporting currency, the U.S. dollar (“USD”), the assets and liabilities of the foreign operations are translated, for consolidation purposes, from the functional currency to the Company’s reporting currency using period-end spot foreign exchange rates. Revenues and expenses of the foreign operations are translated, for the purpose of consolidation, from its functional currency into the reporting currency USD at the transaction date foreign exchange rates. The effects of these translation adjustments are reported in the Foreign currency translation adjustments account within Other comprehensive income (loss) on the Consolidated Statement of Comprehensive Income, net of any related hedged effects. For transactions that are denominated in a currency other than the functional currency, including transactions denominated in the local currencies of foreign operations that use the USD as their functional currency, the effects of changes in exchange rates are reported in Foreign exchange income on the Consolidated Statement of Income.
Accounting Pronouncement Adopted and Recent Accounting Pronouncements Yet to be Adopted
Accounting Pronouncement Adopted in 2025
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

December 31, 2025

Early adoption is permitted.
ASU 2023-09 amends the disclosure requirements for income tax rate reconciliation and income taxes paid. The guidance requires public business entities to provide on an annual basis:

•A reconciliation of statutory tax rate to effective tax rate, using both percentages and reporting currency amounts, into specific categories with reconciling items at or above 5% of the statutory federal income rate.
•The amount of income taxes paid (net of refunds) disaggregated by federal, state and foreign taxes, with further disaggregation by individual jurisdictions that are equal to 5% or more of income taxes paid.
•Income (or loss) before income tax expense (or benefit) disaggregated between domestic and foreign, and income tax expense (or benefit) disaggregated by federal, state and foreign.
The Company adopted ASU 2023-09 on December 31, 2025, retrospectively by providing the revised disclosures for all periods presented.

Recent Accounting Pronouncements Yet to be Adopted
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
January 1, 2027

Early adoption is permitted.
ASU 2025-09 addresses five specific matters:

1.Broadens the set of hedged risk that may be combined within a group of individual forecasted transactions in a cash flow hedge.
2.Enables entities to apply cash flow hedge accounting on “choose-your-rate” debt.
3.Broadens situations where hedge accounting can be applied to forecasted purchases and sales of nonfinancial assets.
4.Removes the requirement to perform net written option assessment for a compound derivative when it is designated as a hedging instrument.
5.In the case of a dual hedge where a foreign- currency-denominated debt instrument is designated as the hedging instrument in a net investment hedge and a hedged item in a fair value of interest rate risk, the ASU requires the debt instruments’ fair value-hedge basis adjustment be excluded when performing the net investment hedge effectiveness assessment.

This guidance must be applied prospectively for all hedging relationships. The Company may elect to adopt this ASU amendments for hedging relationships as of the adoption date.
The Company is currently evaluating the impact of this guidance and does not expect adoption to have a material impact on the Company’s Consolidated Financial Statements.
Recent Accounting Pronouncements Yet to be Adopted (Continued)
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-08, Financial Instruments—Credit Losses (Topic 326)
January 1, 2027

Early adoption is permitted.
ASU 2025-08 broadens the population of financial assets that are within scope of the gross up approach under ASC 326 to include purchased seasoned loans which are defined as:

•Non-PCD loans that are obtained in a business combination.
•Non-PCD loans that are (1) obtained in an asset acquisition or upon consolidation of a VIE that is not a business and (2) are acquired more than 90 days after their origination date by a transferee that was not involved in their origination.

The guidance introduces an accounting policy election to use the amortized cost basis of the asset rather than the discounted cash flow analysis to subsequently measure the credit losses on purchased seasoned loans.

The new guidance is not applicable to credit card loans, ASC 606 receivables, or debt securities. The guidance must be applied prospectively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
ASU No. 2024-03, Income Statement —Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
December 31, 2027

Early adoption is permitted.
ASU 2024-03 requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements. Disclosures of disaggregated expenses include the following:

•The amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion and amortization of capitalized costs related to oil- and gas-producing activities in each relevant expense caption.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
Balance Sheet Offsetting The Company’s resale and repurchase agreements are transacted under legally enforceable master netting agreements that, in the event of default by the counterparty, provide the Company the right to liquidate securities held and to offset receivables and payables with the same counterparty. The Company nets resale and repurchase transactions with the same counterparty on the Consolidated Balance Sheet when it has a legally enforceable master netting agreement and the transactions are eligible for netting under ASC 210-20-45-11, Balance Sheet Offsetting: Repurchase and Reverse Repurchase Agreements. Collateral received includes securities and loans that are not recognized on the Consolidated Balance Sheet. Collateral pledged consists of securities that are not netted on the Consolidated Balance Sheet against the related collateralized liability.
Credit Quality Indicators
Credit Quality Indicators

All loans are subject to the Company’s credit review and monitoring process. For the commercial loan portfolio, loans are risk rated based on an analysis of the borrower’s current payment performance or delinquency, repayment sources, financial and liquidity factors, including industry and geographic considerations. For the consumer loan portfolio, payment performance or delinquency is typically the driving indicator for risk ratings.

The Company utilizes internal credit risk ratings to assign each individual loan a risk rating of 1 through 10:

•Pass — loans risk rated 1 through 5 are assigned an internal risk rating category of “Pass.” Loans risk rated 1 are typically loans fully secured by cash. Pass loans have sufficient sources of repayment to repay the loan in full, in accordance with all terms and conditions.
•Special mention — loans assigned a risk rating of 6 have potential weaknesses that warrant closer attention by management; these are assigned an internal risk rating category of “Special Mention.”
•Substandard — loans assigned a risk rating of 7 or 8 have well-defined weaknesses that may jeopardize the full and timely repayment of the loan; these are assigned an internal risk rating category of “Substandard.”
•Doubtful — loans assigned a risk rating of 9 have insufficient sources of repayment and a high probability of loss; these are assigned an internal risk rating category of “Doubtful.”
•Loss — loans assigned a risk rating of 10 are uncollectible and of such little value that they are no longer considered bankable assets; these are assigned an internal risk rating category of “Loss.”

Loan exposures categorized as criticized consist of special mention, substandard, doubtful and loss categories. The Company reviews the internal risk ratings of its loan portfolio on a regular basis, and adjusts the ratings based on changes in the borrowers’ financial status and the collectability of the loans.
Litigation Litigation — The Company is a party to various legal actions arising in the ordinary course of its business. In accordance with ASC 450, Contingencies, the Company accrues reserves for outstanding lawsuits, claims and proceedings when a loss contingency is probable and can be reasonably estimated. The Company estimates the amount of loss contingencies using current available information from legal proceedings, advice from legal counsel and available insurance coverage. Due to the inherent subjectivity of the assessments and unpredictability of the outcomes of the legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to the Company from the legal proceedings in question.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Useful Lives for Premises and Equipment The ranges of estimated useful lives for the principal classes of assets are as follows:
Premises and EquipmentUseful Lives
Buildings 25 years
Building improvements
15 years
Furniture, fixtures and equipment, including computer equipment
3 to 7 years
Leasehold improvementsRemaining term of lease or useful life, whichever is shorter
Schedule of New Accounting Pronouncements Adopted and Recent Accounting Pronouncements
Accounting Pronouncement Adopted in 2025
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

December 31, 2025

Early adoption is permitted.
ASU 2023-09 amends the disclosure requirements for income tax rate reconciliation and income taxes paid. The guidance requires public business entities to provide on an annual basis:

•A reconciliation of statutory tax rate to effective tax rate, using both percentages and reporting currency amounts, into specific categories with reconciling items at or above 5% of the statutory federal income rate.
•The amount of income taxes paid (net of refunds) disaggregated by federal, state and foreign taxes, with further disaggregation by individual jurisdictions that are equal to 5% or more of income taxes paid.
•Income (or loss) before income tax expense (or benefit) disaggregated between domestic and foreign, and income tax expense (or benefit) disaggregated by federal, state and foreign.
The Company adopted ASU 2023-09 on December 31, 2025, retrospectively by providing the revised disclosures for all periods presented.

Recent Accounting Pronouncements Yet to be Adopted
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements
January 1, 2027

Early adoption is permitted.
ASU 2025-09 addresses five specific matters:

1.Broadens the set of hedged risk that may be combined within a group of individual forecasted transactions in a cash flow hedge.
2.Enables entities to apply cash flow hedge accounting on “choose-your-rate” debt.
3.Broadens situations where hedge accounting can be applied to forecasted purchases and sales of nonfinancial assets.
4.Removes the requirement to perform net written option assessment for a compound derivative when it is designated as a hedging instrument.
5.In the case of a dual hedge where a foreign- currency-denominated debt instrument is designated as the hedging instrument in a net investment hedge and a hedged item in a fair value of interest rate risk, the ASU requires the debt instruments’ fair value-hedge basis adjustment be excluded when performing the net investment hedge effectiveness assessment.

This guidance must be applied prospectively for all hedging relationships. The Company may elect to adopt this ASU amendments for hedging relationships as of the adoption date.
The Company is currently evaluating the impact of this guidance and does not expect adoption to have a material impact on the Company’s Consolidated Financial Statements.
Recent Accounting Pronouncements Yet to be Adopted (Continued)
StandardRequired Date of AdoptionDescriptionEffect on Financial Statements
ASU No. 2025-08, Financial Instruments—Credit Losses (Topic 326)
January 1, 2027

Early adoption is permitted.
ASU 2025-08 broadens the population of financial assets that are within scope of the gross up approach under ASC 326 to include purchased seasoned loans which are defined as:

•Non-PCD loans that are obtained in a business combination.
•Non-PCD loans that are (1) obtained in an asset acquisition or upon consolidation of a VIE that is not a business and (2) are acquired more than 90 days after their origination date by a transferee that was not involved in their origination.

The guidance introduces an accounting policy election to use the amortized cost basis of the asset rather than the discounted cash flow analysis to subsequently measure the credit losses on purchased seasoned loans.

The new guidance is not applicable to credit card loans, ASC 606 receivables, or debt securities. The guidance must be applied prospectively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
ASU No. 2024-03, Income Statement —Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
December 31, 2027

Early adoption is permitted.
ASU 2024-03 requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements. Disclosures of disaggregated expenses include the following:

•The amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion and amortization of capitalized costs related to oil- and gas-producing activities in each relevant expense caption.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
The Company is currently evaluating the impact of this guidance on the Company’s Consolidated Financial Statements.
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets (Liabilities) Measured at Fair Value on a Recurring Basis
The following tables present financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2025 and 2024:
Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2025
($ in thousands)Level 1Level 2Level 3Total Fair Value
AFS debt securities:
U.S. Treasury securities$993,913 $— $— $993,913 
U.S. government agency and U.S. government sponsored enterprise debt securities— 257,654 — 257,654 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities (1):
Commercial mortgage-backed securities— 265,338 — 265,338 
Residential mortgage-backed securities— 10,132,653 — 10,132,653 
Municipal securities— 243,102 — 243,102 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 190,948 — 190,948 
Residential mortgage-backed securities— 393,787 — 393,787 
Corporate debt securities— 464,981 — 464,981 
Foreign government bonds— 238,455 — 238,455 
Asset-backed securities— 31,389 — 31,389 
Total AFS debt securities$993,913 $12,218,307 $— $13,212,220 
Affordable housing partnership, tax credit and CRA investments, net:
Equity securities$22,098 $4,298 $— $26,396 
Total affordable housing partnership, tax credit and CRA investments, net$22,098 $4,298 $— $26,396 
Other assets:
Equity securities$630 $— $— $630 
Total other assets$630 $— $— $630 
Derivative assets:
Interest rate contracts$— $298,558 $— $298,558 
Foreign exchange contracts— 44,340 — 44,340 
Credit contracts— 25 — 25 
Equity contracts— — 522 522 
Commodity contracts— 66,022 — 66,022 
Gross derivative assets$— $408,945 $522 $409,467 
Netting adjustments (2)
$— $(257,525)$— $(257,525)
Net derivative assets$— $151,420 $522 $151,942 
Derivative liabilities:
Interest rate contracts$— $256,870 $— $256,870 
Foreign exchange contracts— 43,160 — 43,160 
Equity contracts (3)
— — 13,734 13,734 
Credit contracts— 51 — 51 
Commodity contracts— 72,158 — 72,158 
Gross derivative liabilities$— $372,239 $13,734 $385,973 
Netting adjustments (2)
$— $(101,640)$— $(101,640)
Net derivative liabilities$— $270,599 $13,734 $284,333 
Refer to table footnotes on the following page.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2024
($ in thousands)Level 1Level 2Level 3Total Fair Value
AFS debt securities:
U.S. Treasury securities$638,265 $— $— $638,265 
U.S. government agency and U.S. government sponsored enterprise debt securities— 262,587 — 262,587 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities (1):
Commercial mortgage-backed securities— 426,214 — 426,214 
Residential mortgage-backed securities— 7,738,260 — 7,738,260 
Municipal securities— 250,153 — 250,153 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 258,470 — 258,470 
Residential mortgage-backed securities— 433,608 — 433,608 
Corporate debt securities— 526,166 — 526,166 
Foreign government bonds— 233,880 — 233,880 
Asset-backed securities— 34,715 — 34,715 
Collateralized loan obligations (“CLOs”)
— 44,493 — 44,493 
Total AFS debt securities$638,265 $10,208,546 $— $10,846,811 
Affordable housing partnership, tax credit and CRA investments, net:
Equity securities$20,817 $4,204 $— $25,021 
Total affordable housing partnership, tax credit and CRA investments, net$20,817 $4,204 $— $25,021 
Other assets:
Equity securities$568 $— $— $568 
Total other assets$568 $— $— $568 
Derivative assets:
Interest rate contracts$— $385,311 $— $385,311 
Foreign exchange contracts— 89,083 — 89,083 
Credit contracts— 1 — 1 
Equity contracts— — 239 239 
Commodity contracts— 48,499 — 48,499 
Gross derivative assets$— $522,894 $239 $523,133 
Netting adjustments (2)
$— $(427,292)$— $(427,292)
Net derivative assets$— $95,602 $239 $95,841 
Derivative liabilities:
Interest rate contracts$— $414,172 $— $414,172 
Foreign exchange contracts— 71,254 — 71,254 
Equity contracts (3)
— — 15,119 15,119 
Credit contracts— 12 — 12 
Commodity contracts— 45,328 — 45,328 
Gross derivative liabilities$— $530,766 $15,119 $545,885 
Netting adjustments (2)
$— $(112,284)$— $(112,284)
Net derivative liabilities$— $418,482 $15,119 $433,601 
(1)Includes Government National Mortgage Association (“GNMA”) AFS debt securities totaling $9.6 billion and $7.2 billion of fair value as of December 31, 2025 and 2024, respectively.
(2)Represents the balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K for additional information.
(3)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
Schedule of Reconciliation of the Beginning and Ending Balances of Equity Contracts Measured at Fair Value on a Recurring Basis using Significant Unobservable Inputs (Level 3) The following table provides a reconciliation of the beginning and ending balances of these equity contracts for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Derivative assets:
Equity contracts
Beginning balance$239 $336 $323 
Total losses included in earnings (1)
(156)(97)(79)
Issuances (2)
439 — 92 
Ending balance$522 $239 $336 
Derivative liabilities:
Equity contracts (3)
Beginning balance$15,119 $15,119 $— 
Total gains included in earnings (4)
(1,385)— — 
Issuances— — 15,119 
Ending balance$13,734 $15,119 $15,119 
(1)Includes unrealized losses recorded in Lending and loan servicing fees on the Consolidated Statement of Income.
(2)Included in Lending and loan servicing fees on the Consolidated Statement of Income.
(3)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
(4)Included in Other investment income on the Consolidated Statement of Income.
Schedule of Quantitative Information About Significant Unobservable Inputs Used in the Valuation of level 3 Fair Value Measurements
The following table presents quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements as of December 31, 2025 and 2024. The significant unobservable inputs presented in the table below are those that the Company considers significant to the fair value of the Level 3 assets. The Company considers unobservable inputs to be significant if, by their exclusion, the fair value of the Level 3 assets would be impacted by a predetermined percentage change.
($ in thousands)Fair Value Measurements (Level 3)Valuation TechniqueUnobservable InputsRange of Inputs
Weighted- Average of Inputs
December 31, 2025
Derivative assets:
Equity contracts$522 Black-Scholes option pricing modelEquity volatility
34% — 53%
40%
(1)
Liquidity discount47%47%
Derivative liabilities:
Equity contracts (2)
$13,734 Internal model
Payout % based on operating revenue and measure of operating profit of investee
35%35%
December 31, 2024
Derivative assets:
Equity contracts$239 Black-Scholes option pricing modelEquity volatility
38% — 57%
50%
(1)
Liquidity discount47%47%
Derivative liabilities:
Equity contracts (2)
$15,119 Internal model
Payout % based on operating revenue and measure of operating profit of investee
84%84%
(1)Weighted-average of inputs is calculated based on the fair value of equity contracts as of December 31, 2025 and 2024.
(2)Equity contracts classified as derivative liabilities consist of performance-based RSUs granted as part of EWBC’s consideration in an investment.
The following table presents the quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements that are measured on a nonrecurring basis as of December 31, 2025 and 2024:
($ in thousands)Fair Value Measurements (Level 3)Valuation TechniquesUnobservable InputsRange of InputsWeighted-Average of Inputs
December 31, 2025
Loans held-for-investment$4,516 Fair value of collateralDiscount
75% — 100%
75%
(1)
$14,735 Fair value of propertySelling cost
8%
8%
Affordable housing partnership, tax credit and CRA investments, net$953 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$13,035 Fair value of propertySelling cost8%8%
December 31, 2024
Loans held-for-investment$910 Fair value of collateralDiscount50%50%
$22,993 Fair value of collateralContract valueNMNM
$37,583 Fair value of propertySelling cost
8% — 20%
10%
(1)
Affordable housing partnership, tax credit and CRA investments, net$5,000 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$19,386 Fair value of propertySelling cost8%8%
NM - Not meaningful
(1)Weighted-average of inputs is based on the relative fair value of the respective assets as of both December 31, 2025 and 2024.
Schedule of Carrying Amounts of Assets That Were Still Held and Had Fair Value Changes Measured on a Nonrecurring Basis
The following tables present the carrying amounts of assets that were still held and had fair value adjustments measured on a nonrecurring basis as of December 31, 2025 and 2024:
Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2025
($ in thousands)Level 1Level 2Level 3Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $5,916 $5,916 
CRE:
CRE— — 13,335 13,335 
Total loans held-for-investment$— $— $19,251 $19,251 
Affordable housing partnership, tax credit and CRA investments, net$— $— $953 $953 
OREO (1)
$— $— $13,035 $13,035 
Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2024
($ in thousands)Level 1Level 2Level 3Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $48,384 $48,384 
CRE:
CRE— — 1,678 1,678 
Construction and land— — 11,316 11,316 
Total commercial— — 61,378 61,378 
Consumer:
Residential mortgage:
HELOCs— — 108 108 
Total consumer— — 108 108 
Total loans held-for-investment$— $— $61,486 $61,486 
Affordable housing partnership, tax credit and CRA investments, net$— $— $5,000 $5,000 
OREO (1)
$— $— $19,386 $19,386 
(1)Represents the carrying value of OREO property that was written down subsequent to its initial classification as OREO and is included in Other assets on the Consolidated Balance Sheet.
Schedule of (Decrease) Increase in Fair Value of Assets for which a Nonrecurring Fair Value Adjustment Has Been Recognized
The following table presents the change in the fair value of certain assets held at the end of the respective reporting periods, for which a nonrecurring fair value adjustment was recognized for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Loans held-for-investment:
Commercial:
C&I$(40,996)$(43,754)$(6,152)
CRE:
CRE(21,830)(78)(1,183)
Construction and land— (2,289)— 
Total CRE(21,830)(2,367)(1,183)
Total commercial(62,826)(46,121)(7,335)
Consumer:
Residential mortgage:
Single-family residential— (1,392)— 
HELOCs— — (40)
Total consumer— (1,392)(40)
Total loans held-for-investment$(62,826)$(47,513)$(7,375)
Affordable housing partnership, tax credit and CRA investments, net(550)(685)(1,140)
OREO(7,381)(7,735)— 
Total nonrecurring fair value losses$(70,757)$(55,933)$(8,515)
Schedule of the Carrying and Fair Value Estimates Per the Fair Value Hierarchy of Financial Instruments Measured on a Nonrecurring Basis
The following tables present the fair value estimates for financial instruments as of December 31, 2025 and 2024, excluding financial instruments recorded at fair value on a recurring basis as they are included in the tables presented elsewhere in this Note. The carrying amounts in the following tables are recorded on the Consolidated Balance Sheet under the indicated captions, except for accrued interest receivable, restricted equity securities, at cost, and mortgage servicing rights that are included in Other assets, and accrued interest payable which is included in Accrued expenses and other liabilities. These financial instruments are measured on an amortized cost basis on the Company’s Consolidated Balance Sheet.
December 31, 2025
($ in thousands)Carrying AmountLevel 1Level 2Level 3Estimated Fair Value
Financial assets:
Cash and cash equivalents$4,188,139 $4,188,139 $— $— $4,188,139 
Interest-bearing deposits with banks$16,189 $— $16,189 $— $16,189 
Resale agreements$425,000 $— $351,065 $— $351,065 
HTM debt securities$2,870,058 $524,887 $1,954,859 $— $2,479,746 
Restricted equity securities, at cost$153,484 $— $153,484 $— $153,484 
Loans held-for-sale$20,976 $— $20,976 $— $20,976 
Loans held-for-investment, net$56,068,399 $— $— $54,665,865 $54,665,865 
Mortgage servicing rights$4,119 $— $— $7,114 $7,114 
Accrued interest receivable$315,669 $— $315,669 $— $315,669 
Financial liabilities:
Demand, checking, savings and money market deposits$41,797,887 $— $41,797,887 $— $41,797,887 
Time deposits$25,284,814 $— $25,285,076 $— $25,285,076 
FHLB advances$3,000,000 $— $3,001,878 $— $3,001,878 
Long-term debt$32,320 $— $32,070 $— $32,070 
Accrued interest payable$60,513 $— $60,513 $— $60,513 
December 31, 2024
($ in thousands)Carrying AmountLevel 1Level 2Level 3Estimated Fair Value
Financial assets:
Cash and cash equivalents$5,250,742 $5,250,742 $— $— $5,250,742 
Interest-bearing deposits with banks$48,198 $— $48,198 $— $48,198 
Resale agreements$425,000 $— $329,769 $— $329,769 
HTM debt securities$2,917,413 $499,858 $1,887,896 $— $2,387,754 
Restricted equity securities, at cost$165,259 $— $165,259 $— $165,259 
Loans held-for-investment, net$53,024,585 $— $— $51,328,254 $51,328,254 
Mortgage servicing rights$5,234 $— $— $8,822 $8,822 
Accrued interest receivable$316,392 $— $316,392 $— $316,392 
Financial liabilities:
Demand, checking, savings and money market deposits$39,959,251 $— $39,959,251 $— $39,959,251 
Time deposits$23,215,772 $— $23,225,317 $— $23,225,317 
FHLB advances$3,500,000 $— $3,497,953 $— $3,497,953 
Long-term debt$32,001 $— $31,246 $— $31,246 
Accrued interest payable$61,950 $— $61,950 $— $61,950 
v3.25.4
Securities Purchased under Resale Agreements (Tables)
 12 Months Ended
Dec. 31, 2025
Resale And Repurchase Agreements [Abstract]  
Schedule of Resale and Repurchase Agreements
The following table presents the resale agreements included on the Consolidated Balance Sheet as of December 31, 2025 and 2024:
Gross Amounts Not Offset on the Consolidated Balance Sheet
($ in thousands)Gross Amounts of Recognized AssetsGross Amounts Offset on the Consolidated Balance SheetNet Amounts of Assets Presented on the Consolidated Balance Sheet
Collateral Received (1)
Net Amount
Resale agreements as of December 31, 2025
$425,000 $— $425,000 $(350,953)$74,047 
Resale agreements as of December 31, 2024
$425,000 $— $425,000 $(329,603)$95,397 
(1)Represents the fair value of collateral the Company has received under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.
v3.25.4
Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The following tables present the amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value by major categories of AFS and HTM debt securities as of December 31, 2025 and 2024:
December 31, 2025
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
AFS debt securities:
U.S. Treasury securities$1,010,053 $837 $(16,977)$— $993,913 
U.S. government agency and U.S. government-sponsored enterprise debt securities287,687 — (30,033)— 257,654 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities292,564 86 (27,312)— 265,338 
Residential mortgage-backed securities10,251,714 68,588 (187,649)— 10,132,653 
Municipal securities
277,275 20 (34,193)— 243,102 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities214,987 — (22,139)(1,900)190,948 
Residential mortgage-backed securities452,208 — (58,421)— 393,787 
Corporate debt securities554,158 6 (89,183)— 464,981 
Foreign government bonds247,249 437 (9,231)— 238,455 
Asset-backed securities31,886 — (497)— 31,389 
Total AFS debt securities13,619,781 69,974 (475,635)(1,900)13,212,220 
HTM debt securities
U.S. Treasury securities540,666 — (15,779)— 524,887 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,007,055 — (146,921)— 860,134 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities474,747 — (69,471)— 405,276 
Residential mortgage-backed securities662,127 — (124,176)— 537,951 
Municipal securities185,463 — (33,965)— 151,498 
Total HTM debt securities2,870,058 — (390,312)— 2,479,746 
Total debt securities$16,489,839 $69,974 $(865,947)$(1,900)$15,691,966 
December 31, 2024
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesFair Value
AFS debt securities:
U.S. Treasury securities$676,300 $— $(38,035)$638,265 
U.S. government agency and U.S. government-sponsored enterprise debt securities308,220 — (45,633)262,587 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities472,535 886 (47,207)426,214 
Residential mortgage-backed securities7,974,768 12,278 (248,786)7,738,260 
Municipal securities287,301 38 (37,186)250,153 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities294,235 2 (35,767)258,470 
Residential mortgage-backed securities514,527 — 

(80,919)433,608 
Corporate debt securities653,500 — (127,334)526,166 
Foreign government bonds244,803 2,069 (12,992)233,880 
Asset-backed securities35,086 — (371)34,715 
CLOs44,500 — (7)44,493 
Total AFS debt securities11,505,775 15,273 (674,237)10,846,811 
HTM debt securities:
U.S. Treasury securities535,080 — (35,222)499,858 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,004,479 — (200,259)804,220 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities486,388 — (91,461)394,927 
Residential mortgage-backed securities703,833 — (155,626)548,207 
Municipal securities187,633 — (47,091)140,542 
Total HTM debt securities2,917,413 — (529,659)2,387,754 
Total debt securities$14,423,188 $15,273 $(1,203,896)$13,234,565 
(1)Amortized cost excludes accrued interest receivables, which are included in Other assets on the Consolidated Balance Sheet. As of December 31, 2025 and 2024, the accrued interest receivables were $54 million and $45 million, respectively. For the Company’s accounting policy related to debt securities’ accrued interest receivables, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Allowance for Credit Losses on Available-for-Sale Debt Securities and Allowance for Credit Losses on Held-to-Maturity Debt Securities to the Consolidated Financial Statements in this Form 10-K.
(2)Includes GNMA AFS debt securities totaling $9.6 billion of both amortized cost and fair value as of December 31, 2025, and $7.3 billion of amortized cost and $7.2 billion of fair value as of December 31, 2024.
(3)Includes GNMA HTM debt securities totaling $79 million of amortized cost and $65 million of fair value as of December 31, 2025, and $86 million of amortized cost and $68 million of fair value as of December 31, 2024.
Schedule of Debt Securities, Held-to-Maturity
The following tables present the amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value by major categories of AFS and HTM debt securities as of December 31, 2025 and 2024:
December 31, 2025
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
AFS debt securities:
U.S. Treasury securities$1,010,053 $837 $(16,977)$— $993,913 
U.S. government agency and U.S. government-sponsored enterprise debt securities287,687 — (30,033)— 257,654 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities292,564 86 (27,312)— 265,338 
Residential mortgage-backed securities10,251,714 68,588 (187,649)— 10,132,653 
Municipal securities
277,275 20 (34,193)— 243,102 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities214,987 — (22,139)(1,900)190,948 
Residential mortgage-backed securities452,208 — (58,421)— 393,787 
Corporate debt securities554,158 6 (89,183)— 464,981 
Foreign government bonds247,249 437 (9,231)— 238,455 
Asset-backed securities31,886 — (497)— 31,389 
Total AFS debt securities13,619,781 69,974 (475,635)(1,900)13,212,220 
HTM debt securities
U.S. Treasury securities540,666 — (15,779)— 524,887 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,007,055 — (146,921)— 860,134 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities474,747 — (69,471)— 405,276 
Residential mortgage-backed securities662,127 — (124,176)— 537,951 
Municipal securities185,463 — (33,965)— 151,498 
Total HTM debt securities2,870,058 — (390,312)— 2,479,746 
Total debt securities$16,489,839 $69,974 $(865,947)$(1,900)$15,691,966 
December 31, 2024
($ in thousands)
Amortized Cost (1)
Gross Unrealized GainsGross Unrealized LossesFair Value
AFS debt securities:
U.S. Treasury securities$676,300 $— $(38,035)$638,265 
U.S. government agency and U.S. government-sponsored enterprise debt securities308,220 — (45,633)262,587 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (2):
Commercial mortgage-backed securities472,535 886 (47,207)426,214 
Residential mortgage-backed securities7,974,768 12,278 (248,786)7,738,260 
Municipal securities287,301 38 (37,186)250,153 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities294,235 2 (35,767)258,470 
Residential mortgage-backed securities514,527 — 

(80,919)433,608 
Corporate debt securities653,500 — (127,334)526,166 
Foreign government bonds244,803 2,069 (12,992)233,880 
Asset-backed securities35,086 — (371)34,715 
CLOs44,500 — (7)44,493 
Total AFS debt securities11,505,775 15,273 (674,237)10,846,811 
HTM debt securities:
U.S. Treasury securities535,080 — (35,222)499,858 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,004,479 — (200,259)804,220 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities (3):
Commercial mortgage-backed securities486,388 — (91,461)394,927 
Residential mortgage-backed securities703,833 — (155,626)548,207 
Municipal securities187,633 — (47,091)140,542 
Total HTM debt securities2,917,413 — (529,659)2,387,754 
Total debt securities$14,423,188 $15,273 $(1,203,896)$13,234,565 
(1)Amortized cost excludes accrued interest receivables, which are included in Other assets on the Consolidated Balance Sheet. As of December 31, 2025 and 2024, the accrued interest receivables were $54 million and $45 million, respectively. For the Company’s accounting policy related to debt securities’ accrued interest receivables, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Allowance for Credit Losses on Available-for-Sale Debt Securities and Allowance for Credit Losses on Held-to-Maturity Debt Securities to the Consolidated Financial Statements in this Form 10-K.
(2)Includes GNMA AFS debt securities totaling $9.6 billion of both amortized cost and fair value as of December 31, 2025, and $7.3 billion of amortized cost and $7.2 billion of fair value as of December 31, 2024.
(3)Includes GNMA HTM debt securities totaling $79 million of amortized cost and $65 million of fair value as of December 31, 2025, and $86 million of amortized cost and $68 million of fair value as of December 31, 2024.
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following tables present the fair value and the associated gross unrealized losses of the Company’s AFS debt securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position, as of December 31, 2025 and 2024:
December 31, 2025
Less Than 12 Months12 Months or MoreTotal
($ in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
AFS debt securities:
U.S. Treasury securities$323,019 $(1,627)$575,638 $(15,350)$898,657 $(16,977)
U.S. government agency and U.S. government-sponsored enterprise debt securities— — 257,654 (30,033)257,654 (30,033)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— — 256,503 (27,312)256,503 (27,312)
Residential mortgage-backed securities1,052,833 (5,480)1,582,952 (182,169)2,635,785 (187,649)
Municipal securities— — 237,214 (34,193)237,214 (34,193)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— — 190,948 (22,139)190,948 (22,139)
Residential mortgage-backed securities— — 393,787 (58,421)393,787 (58,421)
Corporate debt securities— — 454,975 (89,183)454,975 (89,183)
Foreign government bonds— — 90,769 (9,231)90,769 (9,231)
Asset-backed securities— — 31,389 (497)31,389 (497)
Total AFS debt securities$1,375,852 $(7,107)$4,071,829 $(468,528)$5,447,681 $(475,635)
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
($ in thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
AFS debt securities:
U.S. Treasury securities$— $— $638,265 $(38,035)$638,265 $(38,035)
U.S. government agency and U.S. government-sponsored enterprise debt securities— — 262,587 (45,633)262,587 (45,633)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities2,741 (30)377,756 (47,177)380,497 (47,207)
Residential mortgage-backed securities2,719,228 (16,404)1,528,252 (232,382)4,247,480 (248,786)
Municipal securities2,763 (95)245,360 (37,091)248,123 (37,186)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities10,767 (332)235,668 (35,435)246,435 (35,767)
Residential mortgage-backed securities— — 433,608 (80,919)433,608 (80,919)
Corporate debt securities— — 526,166 (127,334)526,166 (127,334)
Foreign government bonds— — 87,008 (12,992)87,008 (12,992)
Asset-backed securities— — 34,715 (371)34,715 (371)
CLOs— — 44,493 (7)44,493 (7)
Total AFS debt securities$2,735,499 $(16,861)$4,413,878 $(657,376)$7,149,377 $(674,237)
Schedule of the Gross Realized Gains and Tax Expense, Available-for-Sale
The following table presents the gross realized gains from the sales of AFS debt securities (pre-tax), credit losses, the impairment write-off of AFS debt securities, and the related tax (benefit) expense included in earnings for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Gross realized gains from sales (1)
$963 $2,069 $3,138 
Credit losses$(1,900)$— $— 
Impairment write-off (1)
$— $— $(10,000)
Related tax (benefit) expense
$(277)$612 $(2,029)
(1)During 2023, the Company recognized $7 million in net losses on AFS securities as a component of Noninterest income in the Company’s Consolidated Statement of Income, consisting of a $10 million impairment write-off on a subordinated debt security, partially offset by a $3 million gain on the sale of the same security.
Schedule of Composition of Interest Income on Debt Securities
The following table presents the composition of interest income on debt securities for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Taxable interest$607,311 $429,003 $255,475 
Nontaxable interest14,626 20,062 20,715 
Total interest income on debt securities$621,937 $449,065 $276,190 
Schedule of Contractual Maturities of AFS and HTM Debt Securities
The following tables present the contractual maturities, amortized cost, fair value and weighted-average yields of AFS and HTM debt securities as of December 31, 2025. Expected maturities will differ from contractual maturities on certain securities as the issuers and borrowers of the underlying collateral may have the right to call or prepay obligations with or without prepayment penalties.
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten Years After Ten Years Total
AFS debt securities:
U.S. Treasury securities
Amortized cost$440,969 $472,570 $96,514 $— $1,010,053 
Fair value432,148 465,270 96,495 — 993,913 
Weighted-average yield (1)
1.11%2.75%3.84%—%2.14%
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost— 26,677 203,514 57,496 287,687 
Fair value— 26,256 182,396 49,002 257,654 
Weighted-average yield (1)
—%1.58%2.07%2.16%2.04%
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities
Amortized cost— 53,961 98,540 10,391,777 10,544,278 
Fair value— 52,339 91,020 10,254,632 10,397,991 
Weighted-average yield (1) (2)
—%2.82%2.83%4.79%4.76%
Municipal securities
Amortized cost7,300 19,206 22,614 228,155 277,275 
Fair value7,219 18,679 19,438 197,766 243,102 
Weighted-average yield (1) (2)
1.15%2.50%2.40%2.26%2.26%
Non-agency mortgage-backed securities
Amortized cost— 1,324 — 665,871 667,195 
Fair value— 1,320 — 583,415 584,735 
Weighted-average yield (1)
—%3.35%—%2.28%2.28%
Corporate debt securities
Amortized cost15,158 26,500 437,500 75,000 554,158 
Fair value15,116 26,204 361,829 61,832 464,981 
Weighted-average yield (1)
4.07%5.23%2.38%2.09%2.53%
Foreign government bonds
Amortized cost118,665 28,584 50,000 50,000 247,249 
Fair value118,935 28,751 49,904 40,865 238,455 
Weighted-average yield (1)
2.31%1.81%4.34%1.50%2.50%
Asset-backed securities
Amortized cost— — — 31,886 31,886 
Fair value— — — 31,389 31,389 
Weighted-average yield (1)
—%—%—%4.65%4.65%
Total AFS debt securities
Amortized cost$582,092 $628,822 $908,682 $11,500,185 $13,619,781 
Fair value$573,418 $618,819 $801,082 $11,218,901 $13,212,220 
Weighted-average yield (1)
1.44%2.76%2.63%4.55%4.21%
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten YearsAfter Ten YearsTotal
HTM debt securities:
U.S. Treasury securities
Amortized cost$—$540,666$—$—$540,666
Fair value—524,887——524,887
Weighted-average yield (1)
—%1.05%—%—%1.05%
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost—105,467556,098345,4901,007,055
Fair value—97,497479,123283,514860,134
Weighted-average yield (1)
—%1.37%1.91%2.04%1.90%
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities
Amortized cost—48,732178,114910,0281,136,874
Fair value—45,124153,739744,364943,227
Weighted-average yield (1) (2)
—%1.48%1.81%1.67%1.68%
Municipal securities
Amortized cost——13,958171,505185,463
Fair value——12,638138,860151,498
Weighted-average yield (1) (2)
—%—%2.35%1.99%2.02%
Total HTM debt securities
Amortized cost$—$694,865$748,170$1,427,023$2,870,058
Fair value$—$667,508$645,500$1,166,738$2,479,746
Weighted-average yield (1)
—%1.13%1.89%1.79%1.66%
(1)Weighted-average yields are computed based on amortized cost balances.
(2)Yields on tax-exempt securities are not presented on a tax-equivalent basis.
Schedule of Restricted Equity Securities
The following table presents the restricted equity securities included in Other assets on the Consolidated Balance Sheet as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
FRB of San Francisco stock
$66,179 $63,930 
FHLB stock87,305 101,329 
Total restricted equity securities$153,484 $165,259 
v3.25.4
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional and Fair Values of Derivatives
The following table presents the notional amounts and fair values of the Company’s derivatives as of December 31, 2025 and 2024. Certain derivative contracts are cleared through central clearing organizations where variation margin is applied daily as settlement to the fair values of the contracts. The fair values are presented on a gross basis prior to the application of bilateral collateral and master netting agreements, but after the application of variation margin payments as settlement to fair values of contracts cleared through central clearing organizations. Applying variation margin payments as settlement to the fair values of derivative contracts cleared through the London Clearing House (“LCH”) and the Chicago Mercantile Exchange (“CME”) resulted in reductions in the derivative asset and liability fair values of $16 million and $3 million, respectively, as of December 31, 2025. In comparison, applying variation margin payments as settlement to LCH- and CME-cleared derivative transactions resulted in reductions in the derivative asset and liability fair values of $17 million and $15 million, respectively, as of December 31, 2024. Total gross derivative asset and liability fair values are then adjusted to reflect the effects of legally enforceable master netting agreements and cash collateral received or paid. The resulting net derivative asset and liability fair values are included in Other assets and Accrued expenses and other liabilities, respectively, on the Consolidated Balance Sheet.
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate contracts$4,250,000 $39,997 $139 $5,250,000 $5,647 $35,211 
Derivatives not designated as hedging instruments:
Interest rate contracts$18,987,277 $258,561 $256,731 $17,005,381 $379,664 $378,961 
Commodity contracts (1)
— 66,022 72,158 — 48,499 45,328 
Foreign exchange contracts4,550,101 44,340 43,160 5,201,460 89,083 71,254 
Credit contracts (2)
303,421 25 51 168,999 1 12 
Equity contracts— 522 (3)13,734 (4)— 239 (3)15,119 (4)
Total derivatives not designated as hedging instruments$23,840,799 $369,470 $385,834 $22,375,840 $517,486 $510,674 
Gross derivative assets/liabilities$409,467 $385,973 $523,133 $545,885 
Less: Master netting agreements(74,138)(74,138)(111,124)(111,124)
Less: Cash collateral received/paid(183,387)(27,502)(316,168)(1,160)
Net derivative assets/liabilities$151,942 $284,333 $95,841 $433,601 
(1)The notional amount of the Company’s commodity contracts totaled 16 million barrels of crude oil and 364 million units of natural gas, measured in million British thermal units (“MMBTUs”) as of December 31, 2025. In comparison, the notional amount of the Company’s commodity contracts totaled 21 million barrels of crude oil and 407 million MMBTUs of natural gas as of December 31, 2024.
(2)The notional amount for the credit contracts reflects the Company’s pro-rata share of the notional amount in the underlying derivative instruments in RPAs.
(3)The Company held warrant equity contracts in nine and eight private companies as of December 31, 2025 and 2024, respectively.
(4)Equity contracts classified as derivative liabilities consist of 349 thousand performance-based RSUs granted as part of EWBC’s consideration in an investment.
The following table presents the notional amounts and the gross fair values of the interest rate and foreign exchange derivatives entered into with customers and with third-party financial institutions as economic hedges to customers’ positions as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
Customer-related positions:
Interest rate contracts:
Swaps$7,566,889 $47,448 $206,794 $6,854,372 $11,828 $361,256 
Written options1,463,110 — 1,900 1,458,428 — 4,953 
Collars and corridors444,604 311 20 181,039 80 440 
Subtotal9,474,603 47,759 208,714 8,493,839 11,908 366,649 
Foreign exchange contracts:
Forwards and spot1,156,203 23,661 2,831 996,486 11,693 24,201 
Swaps785,956 13,272 661 1,504,469 16,117 25,366 
Written options63,460 — 73 — — — 
Subtotal2,005,619 36,933 3,565 2,500,955 27,810 49,567 
Total$11,480,222 $84,692 $212,279 $10,994,794 $39,718 $416,216 
Economic hedges and other:
Interest rate contracts:
Swaps$7,604,959 $208,860 $47,682 $6,872,075 $362,323 $12,228 
Purchased options1,463,110 1,922 — 1,458,428 4,990 — 
Collars and corridors
444,605 20 335 181,039 443 84 
Subtotal9,512,674 210,802 48,017 8,511,542 367,756 12,312 
Foreign exchange contracts:
Forwards and spot234,278 1,602 3,498 86,750 2,318 1,738 
Swaps2,246,744 5,718 36,083 2,613,755 58,955 19,949 
Purchased options63,460 87 14 — — — 
Subtotal2,544,482 7,407 39,595 2,700,505 61,273 21,687 
Total$12,057,156 $218,209 $87,612 $11,212,047 $429,029 $33,999 
The Company enters into energy commodity contracts with its customers in the oil and gas sector, which allow them to hedge against the risk of fluctuation in energy commodity prices. Offsetting contracts entered with third-party financial institutions are used as economic hedges to manage the Company’s exposure on its customer-related positions. The following table presents the notional amounts in units and the gross fair values of the commodity derivatives issued for customer-related positions and economic hedges as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ and units in thousands)Notional UnitsAssetsLiabilitiesNotional UnitsAssetsLiabilities
Customer-related positions:
Commodity contracts:
Crude oil:
Swaps4,255 Barrels$205 $28,533 4,830 Barrels$4,682 $6,874 
Collars3,747 Barrels21 13,622 5,477 Barrels1,604 3,362 
Subtotal8,002 Barrels226 42,155 10,307 Barrels6,286 10,236 
Natural gas:
Swaps112,599 MMBTUs5,814 18,403 141,736 MMBTUs13,095 17,708 
Collars71,945 MMBTUs1,879 6,693 62,045 MMBTUs6,061 4,556 
Written options— MMBTUs— — 1,234 MMBTUs167 — 
Subtotal184,544 MMBTUs7,693 25,096 205,015 MMBTUs19,323 22,264 
Total$7,919 $67,251 $25,609 $32,500 
Economic hedges:
Commodity contracts:
Crude oil:
Swaps4,255 Barrels$25,309 $11 4,830 Barrels$4,479 $3,893 
Collars3,747 Barrels8,724 21 5,477 Barrels1,547 76 
Subtotal8,002 Barrels34,033 32 10,307 Barrels6,026 3,969 
Natural gas:
Swaps110,506 MMBTUs18,258 3,963 139,136 MMBTUs13,323 5,056 
Collars68,965 MMBTUs5,812 912 61,341 MMBTUs3,541 3,650 
Purchased options— MMBTUs— — 1,234 MMBTUs— 153 
Subtotal179,471 MMBTUs24,070 4,875 201,711 MMBTUs16,864 8,859 
Total$58,103 $4,907 $22,890 $12,828 
The following table presents the notional amounts and the gross fair values of RPAs sold and purchased outstanding as of December 31, 2025 and 2024:
December 31, 2025December 31, 2024
Fair ValueFair Value
($ in thousands)Notional AmountAssetsLiabilitiesNotional AmountAssetsLiabilities
RPAs — protection sold (1)
$133,756 $— $51 $133,174 $— $12 
RPAs — protection purchased
169,665 25 — 35,825 1 — 
Total RPAs$303,421 $25 $51 $168,999 $1 $12 
(1)All reference entities of the protection sold RPAs were investment grade. The weighted-average remaining maturities were 2.7 years and 1.6 years as of December 31, 2025 and 2024, respectively.
Schedule of Pre-Tax Changes in AOCI from Cash Flows Hedges
The following table presents the pre-tax changes in AOCI from cash flow hedges for the years ended December 31, 2025, 2024 and 2023. The after-tax impact of cash flow hedges on AOCI is shown in Note 15 — Accumulated Other Comprehensive (Loss) Income to the Consolidated Financial Statements in this Form 10-K.
Year Ended December 31,
($ in thousands)202520242023
Gains (losses) recognized in AOCI:
Interest rate contracts
$48,016 $(124,382)$(5,767)
Losses (gains) reclassified from AOCI into earnings:
Interest expense (for cash flow hedges on borrowings)$— $— $(696)
Interest and dividend income (for cash flow hedges on loans)20,959 91,083 82,153 
Noninterest income— — (1,614)(1)
Total$20,959 $91,083 $79,843 
(1)Represents the amounts in AOCI reclassified into earnings resulting from forecasted cash flows that were no longer probable to occur.
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) The following table presents the pre-tax gains recognized in AOCI on net investment hedges for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Gains recognized in AOCI
$— $586 $2,571 
Schedule of Net Gains (Losses) Recognized on the Consolidated Statements of Income Related to Derivatives not Designated as Hedging Instruments
The following table presents the net gains (losses) due to fair value changes that are recognized on the Company’s Consolidated Statement of Income related to derivatives not designated as hedging instruments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)Classification on Consolidated Statement of Income202520242023
Derivatives not designated as hedging instruments:
Interest rate contractsCustomer derivative income, net of mark-to-market adjustments$(3,142)$549 $(2,989)
Foreign exchange contractsForeign exchange income52,295 54,073 52,817 
Credit contractsCustomer derivative income, net of mark-to-market adjustments(15)— (1)
Equity contracts - warrantsLending and loan servicing fees283 (97)13 
Equity contracts - performance-based RSUs
Other investment income
1,385 — — 
Commodity contractsCustomer derivative income, net of mark-to-market adjustments960 929 (25)
Net gains$51,766 $55,454 $49,815 
Schedule of Gross Derivative Fair Values, the Balance Sheet Netting Adjustments and Net Fair Values on the Consolidated Balance Sheets, As Well As the Cash and Non-Cash Collateral
The following tables present the gross derivative fair values, the balance sheet netting adjustments, and the resulting net fair values recorded on the Consolidated Balance Sheet, as well as the cash and noncash collateral associated with master netting arrangements. The gross fair values of derivative assets and liabilities are presented after the application of variation margin payments as settlements to the fair values of contracts cleared through central clearing organizations, where applicable. The collateral amounts in the following tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of over-collateralization are not shown:
($ in thousands)As of December 31, 2025
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (1)
Master Netting Arrangements
Cash Collateral Received (3)
Security Collateral Received (5)
Net Amount
Derivative assets$409,467 $(74,138)$(183,387)

$151,942 $(42,779)

$109,163 
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (2)
Master Netting Arrangements
Cash Collateral Pledged (4)
Security Collateral Pledged (5)
Net Amount
Derivative liabilities$385,973 $(74,138)$(27,502)

$284,333 $— 

$284,333 
($ in thousands)As of December 31, 2024
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance SheetGross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (1)
Master Netting Arrangements
Cash Collateral Received (3)
Security Collateral Received (5)
Net Amount
Derivative assets$523,133 $(111,124)$(316,168)$95,841 $(55,222)$40,619 
Gross Amounts Offset on the Consolidated Balance Sheet
Net Amounts Presented on the Consolidated Balance Sheet
Gross Amounts Not Offset on the Consolidated Balance Sheet
Gross Amounts Recognized (2)
Master Netting Arrangements
Cash Collateral Pledged (4)
Security Collateral Pledged (5)
Net Amount
Derivative liabilities$545,885 $(111,124)$(1,160)$433,601 $— $433,601 
(1)Includes $9 million and $4 million of gross fair value assets with counterparties that were not subject to enforceable master netting arrangements or similar agreements as of December 31, 2025 and 2024, respectively.
(2)Includes $16 million and $27 million of gross fair value liabilities with counterparties that were not subject to enforceable master netting arrangements or similar agreements as of December 31, 2025 and 2024, respectively.
(3)Gross cash collateral received under master netting arrangements or similar agreements were $184 million and $322 million as of December 31, 2025 and 2024, respectively. Of the gross cash collateral received, $183 million and $316 million were used to offset against derivative assets as of December 31, 2025 and 2024, respectively.
(4)Gross cash collateral pledged under master netting arrangements or similar agreements were $29 million and $1 million as of December 31, 2025 and 2024, respectively. Of the gross cash collateral pledged, $28 million and $1 million were used to offset against derivative liabilities as of December 31, 2025 and 2024, respectively.
(5)Represents the fair value of security collateral received or pledged limited to derivative assets or liabilities that are subject to enforceable master netting arrangements or similar agreements. U.S. GAAP does not permit the netting of noncash collateral on the Consolidated Balance Sheet but requires the disclosure of such amounts.
v3.25.4
Loans Receivable and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of the Composition of Loan Held-For-Investment
The following table presents the composition of the Company’s loans held-for-investment outstanding as of December 31, 2025 and 2024:
($ in thousands)December 31, 2025December 31, 2024
Commercial:
C&I$18,650,755 $17,397,158 
CRE:
CRE15,407,088 14,655,340 
Multifamily residential5,112,328 4,953,442 
Construction and land742,357 666,162 
Total CRE21,261,773 20,274,944 
Total commercial39,912,528 37,672,102 
Consumer:
Residential mortgage:
Single-family residential15,002,549 14,175,446 
HELOCs1,911,897 1,811,628 
Total residential mortgage16,914,446 15,987,074 
Other consumer51,198 67,461 
Total consumer16,965,644 16,054,535 
Total loans held-for-investment (1)
$56,878,172 $53,726,637 
ALLL(809,773)(702,052)
Loans held-for-investment, net (1)
$56,068,399 $53,024,585 
(1)Includes $26 million and $46 million of net deferred loan fees and net unamortized premiums as of December 31, 2025 and 2024, respectively.
Schedule Of Loans Held-For-Investment By Loan Portfolio Segments, Internal Risk Ratings, Gross Write-Offs And Vintage Year
The following tables summarize the Company’s loans held-for-investment and year-to-date gross write-offs by loan portfolio segments, internal risk ratings and vintage year as of December 31, 2025 and 2024. The vintage year is the year of loan origination, renewal or major modification. Revolving loans that are converted to term loans presented in the tables below are excluded from the term loans by vintage year columns.
December 31, 2025
Term Loans by Origination Year
($ in thousands)20252024202320222021PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$3,013,368 $1,717,361 $880,267 $536,461 $391,413 $302,893 $11,308,551 $67,968 $18,218,282 
Criticized (accrual)572 35,223 1,662 93,562 83,813 6,771 158,626 — 380,229 
Criticized (nonaccrual)
2,922 4,733 26,810 1,640 9,525 6,526 88 — 52,244 
Total C&I3,016,862 1,757,317 908,739 631,663 484,751 316,190 11,467,265 67,968 18,650,755 
Gross write-offs (2)
2,617 1,199 28,752 4,643 1,063 3,170 24 — 41,468 
CRE:
Pass2,615,789 1,562,420 2,015,433 3,188,363 1,708,927 3,607,918 78,712 47,512 14,825,074 
Criticized (accrual)30,275 29,807 116,862 134,018 48,569 183,937 — — 543,468 
Criticized (nonaccrual)
3,317 — 4,172 7,439 12,330 11,288 — — 38,546 
Subtotal CRE2,649,381 1,592,227 2,136,467 3,329,820 1,769,826 3,803,143 78,712 47,512 15,407,088 
Gross write-offs
8,932 — — 160 19 15,126 — — 24,237 
Multifamily residential:
Pass895,323 338,209 478,782 1,138,693 663,916 1,547,124 32,207 3,820 5,098,074 
Criticized (accrual)— — — 5,175 — 8,787 — — 13,962 
Criticized (nonaccrual)
— — — — — 292 — — 292 
Subtotal multifamily residential895,323 338,209 478,782 1,143,868 663,916 1,556,203 32,207 3,820 5,112,328 
Gross write-offs
— — — — — 8 — — 8 
Construction and land:
Pass246,380 109,799 247,482 90,086 13,437 3,462 3,901 — 714,547 
Criticized (nonaccrual)
— 8,897 — 18,913 — — — — 27,810 
Subtotal construction and land246,380 118,696 247,482 108,999 13,437 3,462 3,901 — 742,357 
Total CRE3,791,084 2,049,132 2,862,731 4,582,687 2,447,179 5,362,808 114,820 51,332 21,261,773 
Total CRE gross write-offs (2)
8,932 — — 160 19 15,134 — — 24,245 
Total commercial$6,807,946 $3,806,449 $3,771,470 $5,214,350 $2,931,930 $5,678,998 $11,582,085 $119,300 $39,912,528 
Total commercial gross write-offs (2)
$11,549 $1,199 $28,752 $4,803 $1,082 $18,304 $24 $— $65,713 
December 31, 2025
Term Loans by Origination Year
($ in thousands)20252024202320222021PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (3)
$2,861,764 $1,837,821 $2,349,242 $2,808,694 $1,860,110 $3,228,996 $— $— $14,946,627 
Criticized (accrual)3,157 3,646 5,589 5,427 235 9,356 — — 27,410 
Criticized (nonaccrual) (3)
4,566 891 3,445 4,617 1,620 13,373 — — 28,512 
Subtotal single-family residential mortgage2,869,487 1,842,358 2,358,276 2,818,738 1,861,965 3,251,725 — — 15,002,549 
Gross write-offs (2)
— 14 — — — — — — 14 
HELOCs:
Pass13,652 4,796 4,740 5,258 11,233 22,213 1,750,894 70,577 1,883,363 
Criticized (accrual)1,879 — 97 140 287 526 6,784 1,654 11,367 
Criticized (nonaccrual)
1,288 13 379 2,610 1,232 7,033 — 4,612 17,167 
Subtotal HELOCs16,819 4,809 5,216 8,008 12,752 29,772 1,757,678 76,843 1,911,897 
Gross write-offs
— — — — — — — 6 6 
Total residential mortgage2,886,306 1,847,167 2,363,492 2,826,746 1,874,717 3,281,497 1,757,678 76,843 16,914,446 
Total residential mortgage gross write-offs (2)
— 14 — — — — — 6 20 
Other consumer:
Pass25,146 — — 4,635 129 5,570 15,576 — 51,056 
Criticized (nonaccrual)
— — 49 — — — 93 — 142 
Total other consumer25,146 — 49 4,635 129 5,570 15,669 — 51,198 
Total consumer$2,911,452 $1,847,167 $2,363,541 $2,831,381 $1,874,846 $3,287,067 $1,773,347 $76,843 $16,965,644 
Total consumer gross write-offs (2)
$—$14$—$—$—$—$—$6$20
Total loans held-for-investment:
Pass$9,671,422 $5,570,406 $5,975,946 $7,772,190 $4,649,165 $8,718,176 $13,189,841 $189,877 $55,737,023 
Criticized (accrual)35,883 68,676 124,210 238,322 132,904 209,377 165,410 1,654 976,436 
Criticized (nonaccrual)
12,093 14,534 34,855 35,219 24,707 38,512 181 4,612 164,713 
Total$9,719,398 $5,653,616 $6,135,011 $8,045,731 $4,806,776 $8,966,065 $13,355,432 $196,143 $56,878,172 
Total loans held-for-investment gross write-offs (2)
$11,549 $1,213 $28,752 $4,803 $1,082 $18,304 $24 $6 $65,733 
December 31, 2024
Term Loans by Origination Year
($ in thousands)20242023202220212020PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$2,605,928 $1,508,948 $999,586 $612,015 $243,528 $295,884 $10,574,404 $23,032 $16,863,325 
Criticized (accrual)34,412 51,415 61,041 107,355 10,538 31,160 151,747 — 447,668 
Criticized (nonaccrual)
3,822 29,181 20,273 10,666 3,225 9,135 9,863 — 86,165 
Total C&I2,644,162 1,589,544 1,080,900 730,036 257,291 336,179 10,736,014 23,032 17,397,158 
Gross write-offs (2)
20 47,963 14,848 11,119 1,568 3,012 27,099 — 105,629 
CRE:
Pass1,660,877 2,296,763 3,692,498 1,925,220 1,296,439 3,176,450 96,791 49,302 14,194,340 
Criticized (accrual)34,543 44,557 90,105 31,615 75,578 167,401 — 14,771 458,570 
Criticized (nonaccrual)— — — — 1,756 674 — — 2,430 
Subtotal CRE1,695,420 2,341,320 3,782,603 1,956,835 1,373,773 3,344,525 96,791 64,073 14,655,340 
Gross write-offs (2)
— — — — — 3 — — 3 
Multifamily residential:
Pass386,743 521,754 1,337,599 752,230 613,115 1,242,586 14,640 1,253 4,869,920 
Criticized (accrual)— — 43,997 32,042 — 2,911 — — 78,950 
Criticized (nonaccrual)— — — — — 4,572 — — 4,572 
Subtotal multifamily residential386,743 521,754 1,381,596 784,272 613,115 1,250,069 14,640 1,253 4,953,442 
Gross write-offs
— — — — — 10 — — 10 
Construction and land:
Pass90,926 328,803 184,792 41,932 — 8,393 — — 654,846 
Criticized (nonaccrual)— — 11,316 — — — — — 11,316 
Subtotal construction and land
90,926 328,803 196,108 41,932 — 8,393 — — 666,162 
Gross write-offs— — 2,289 — — — — — 2,289 
Total CRE2,173,089 3,191,877 5,360,307 2,783,039 1,986,888 4,602,987 111,431 65,326 20,274,944 
Total CRE gross write-offs (2)
— — 2,289 — — 13 — — 2,302 
Total commercial$4,817,251 $4,781,421 $6,441,207 $3,513,075 $2,244,179 $4,939,166 $10,847,445 $88,358 $37,672,102 
Total commercial gross write-offs (2)
$20 $47,963 $17,137 $11,119 $1,568 $3,025 $27,099 $— $107,931 
December 31, 2024
Term Loans by Origination Year
($ in thousands)20242023202220212020PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (3)
$2,360,674 $2,762,921 $3,074,668 $2,079,323 $1,407,031 $2,437,446 $— $— $14,122,063 
Criticized (accrual)4,175 3,409 750 5,810 1,548 6,069 — — 21,761 
Criticized (nonaccrual) (3)
2,716 9,673 1,929 2,035 2,404 12,865 — — 31,622 
Subtotal single-family residential mortgage2,367,565 2,776,003 3,077,347 2,087,168 1,410,983 2,456,380 — — 14,175,446 
Gross write-offs (2)
9 — — — — — — — 9 
HELOCs:
Pass7,453 3,288 4,071 3,236 7,570 8,152 1,648,337 99,488 1,781,595 
Criticized (accrual)1,436 — 1,420 — 135 2,064 2,338 594 7,987 
Criticized (nonaccrual)3,161 3,095 2,520 39 418 7,301 — 5,512 22,046 
Subtotal HELOCs12,050 6,383 8,011 3,275 8,123 17,517 1,650,675 105,594 1,811,628 
Gross write-offs (2)
— 10 — — — — — 5 15 
Total residential mortgage2,379,615 2,782,386 3,085,358 2,090,443 1,419,106 2,473,897 1,650,675 105,594 15,987,074 
Total residential mortgage gross write-offs (2)
9 10 — — — — — 5 24 
Other consumer:
Pass14,916 — 22,992 132 — 6,800 22,555 — 67,395 
Criticized (nonaccrual)— — — — — — 66 — 66 
Total other consumer14,916 — 22,992 132 — 6,800 22,621 — 67,461 
Gross write-offs (2)
— 3,000 — — — — 890 — 3,890 
Total consumer$2,394,531 $2,782,386 $3,108,350 $2,090,575 $1,419,106 $2,480,697 $1,673,296 $105,594 $16,054,535 
Total consumer gross write-offs (2)
$9 $3,010 $— $— $— $— $890 $5 $3,914 
Total loans held-for-investment:
Pass$7,127,517 $7,422,477 $9,316,206 $5,414,088 $3,567,683 $7,175,711 $12,356,727 $173,075 $52,553,484 
Criticized (accrual)74,566 99,381 197,313 176,822 87,799 209,605 154,085 15,365 1,014,936 
Criticized (nonaccrual)
9,699 41,949 36,038 12,740 7,803 34,547 9,929 5,512 158,217 
Total$7,211,782 $7,563,807 $9,549,557 $5,603,650 $3,663,285 $7,419,863 $12,520,741 $193,952 $53,726,637 
Total loans held-for-investment gross write-offs (2)
$29 $50,973 $17,137 $11,119 $1,568 $3,025 $27,989 $5 $111,845 
(1)During the year ended December 31, 2025, $53 million of total commercial loans, comprised of C&I revolving loans, were converted to term loans. In comparison, $7 million of total commercial loans, comprised of CRE and C&I revolving loans, and $29 million of total commercial loans, primarily comprised of CRE revolving loans, were converted to term loans during the years ended December 31, 2024 and 2023, respectively. During the years ended December 31, 2025, 2024 and 2023, respectively, $2 million, $22 million and $44 million of total consumer loans, comprised of HELOCs, were converted to term loans.
(2)Excludes gross write-offs associated with loans the Company sold or settled.
(3)As of each of December 31, 2025 and 2024, $1 million of nonaccrual loans whose payments were guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
Schedule of Aging Analysis of Loans The following tables present the aging analysis of loans held-for-investment as of December 31, 2025 and 2024:
December 31, 2025
($ in thousands)Current Accruing LoansAccruing Loans 30-59 Days Past DueAccruing Loans 60-89 Days Past DueTotal Accruing Past Due LoansTotal Nonaccrual LoansTotal Loans
Commercial:
C&I$18,572,467 $25,962 $82 $26,044 $52,244 $18,650,755 
CRE:
CRE15,354,548 10,525 3,469 13,994 38,546 15,407,088 
Multifamily residential5,110,783 1,253 — 1,253 292 5,112,328 
Construction and land714,547 — — — 27,810 742,357 
Total CRE21,179,878 11,778 3,469 15,247 66,648 21,261,773 
Total commercial39,752,345 37,740 3,551 41,291 118,892 39,912,528 
Consumer:
Residential mortgage:
Single-family residential14,899,224 46,010 27,674 73,684 29,641 15,002,549 
HELOCs1,860,080 23,328 11,322 34,650 17,167 1,911,897 
Total residential mortgage16,759,304 69,338 38,996 108,334 46,808 16,914,446 
Other consumer50,979 56 21 77 142 51,198 
Total consumer16,810,283 69,394 39,017 108,411 46,950 16,965,644 
Total$56,562,628 $107,134 $42,568 $149,702 $165,842 $56,878,172 
December 31, 2024
($ in thousands)Current Accruing LoansAccruing Loans 30-59 Days Past DueAccruing Loans 60-89 Days Past DueTotal Accruing Past Due LoansTotal Nonaccrual LoansTotal Loans
Commercial:
C&I$17,288,138 $5,690 $17,165 $22,855 $86,165 $17,397,158 
CRE:
CRE14,647,270 3,755 1,885 5,640 2,430 14,655,340 
Multifamily residential4,947,939 653 278 931 4,572 4,953,442 
Construction and land653,919 927 — 927 11,316 666,162 
Total CRE20,249,128 5,335 2,163 7,498 18,318 20,274,944 
Total commercial37,537,266 11,025 19,328 30,353 104,483 37,672,102 
Consumer:
Residential mortgage:
Single-family residential14,088,086 32,841 22,096 54,937 32,423 14,175,446 
HELOCs1,770,218 11,396 7,968 19,364 22,046 1,811,628 
Total residential mortgage
15,858,304 44,237 30,064 74,301 54,469 15,987,074 
Other consumer67,288 92 15 107 66 67,461 
Total consumer15,925,592 44,329 30,079 74,408 54,535 16,054,535 
Total$53,462,858 $55,354 $49,407 $104,761 $159,018 $53,726,637 
Schedule of Amortized Cost of Loans on Nonaccrual Status with No Related Allowance for Loan Losses
The following table presents the amortized cost of loans on nonaccrual status for which there was no related ALLL as of December 31, 2025 and 2024. Nonaccrual loans may not have an allowance for credit losses if the loan balances are well secured by collateral values and there is no loss expectation.
($ in thousands)December 31, 2025December 31, 2024
Commercial:
C&I$21,723 $79,591 
CRE33,705 — 
Multifamily residential— 4,210 
Construction and land
27,810 11,316 
Total commercial83,238 95,117 
Consumer:
Single-family residential6,095 6,279 
HELOCs4,081 15,380 
Total consumer10,176 21,659 
Total nonaccrual loans with no related ALLL$93,414 $116,776 
Schedule of Modified Loans
The following tables present the amortized cost of loans that were modified during the years ended December 31, 2025, 2024 and 2023 by loan class and modification type:
Year Ended December 31, 2025
Modification Type
Combination:
($ in thousands)
Interest Rate Reduction
Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction /Term Extension/ Payment Delay
Rate Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$6,057 $77,039 $51,904 $33,450 $— $19,579 $188,029 1.01 %
CRE— 167,286 — — — — 167,286 1.09 %
Multifamily— 275 — — — — 275 0.01 %
Land and construction— 9,451 — — — — 9,451 1.27 %
Total commercial6,057 254,051 51,904 33,450 — 19,579 365,041 0.91 %
Consumer:
Single-family residential— — 29,545 2,402 — — 31,947 0.21 %
HELOCs— — 14,883 909 407 1,172 17,371 0.91 %
Total consumer— — 44,428 3,311 407 1,172 49,318 0.29 %
Total$6,057 $254,051 $96,332 $36,761 $407 $20,751 $414,359 0.73 %
Year Ended December 31, 2024
Modification Type
Combination:
($ in thousands)Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction/ Term Extension
Rate Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$57,102 $26,420 $— $— $— $83,522 0.48 %
CRE86,258 — — 6,052 — 92,310 0.63 %
Total commercial143,360 26,420 — 6,052 — 175,832 0.47 %
Consumer:
Single-family residential— 15,397 222 — 140 15,759 0.11 %
HELOCs— 14,303 — — 517 14,820 0.82 %
Total consumer— 29,700 222 — 657 30,579 0.19 %
Total$143,360 $56,120 $222 $6,052 $657 $206,411 0.38 %
Year Ended December 31, 2023
Modification Type
Combination:
($ in thousands)Term ExtensionPayment Delay
Term Extension/ Payment Delay
Rate Reduction/ Term Extension
Reduction/ Payment Delay
TotalModification as a % of Loan Class
Commercial:
C&I$62,704 $6,842 $— $— $— $69,546 0.42 %
CRE13,939 — — 32,470 — 46,409 0.31 %
Total commercial76,643 6,842 — 32,470 — 115,955 0.31 %
Consumer:
Single-family residential— 10,202 3,967 — — 14,169 0.11 %
HELOCs— 3,148 1,170 — 815 5,133 0.30 %
Total consumer— 13,350 5,137 — 815 19,302 0.13 %
Total$76,643 $20,192 $5,137 $32,470 $815 $135,257 0.26 %

The following tables present the financial effects of the loan modifications for the years ended December 31, 2025, 2024 and 2023 by loan class and modification type:
Year Ended December 31, 2025
Financial Effects of Loan Modifications
($ in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)
Weighted-Average Payment Delay (in years)
Commercial:
C&I3.38 %1.10.8
CRE— %3.20.0
Multifamily— %10.00.0
Land and construction— %0.80.0
Consumer:
Single-family residential— %15.03.5
HELOCs0.97 %15.34.8
Year Ended December 31, 2024
Financial Effects of Loan Modifications
($ in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)Weighted-Average Payment Delay
(in years)
Commercial:
C&I— %2.11.7
CRE1.28 %2.70.0
Consumer:
Single-family residential1.63 %10.01.3
HELOCs0.25 %0.01.7
Year Ended December 31, 2023
Financial Effects of Loan Modifications
($ in thousands)Principal ForgivenessWeighted-Average Interest Rate ReductionWeighted-Average Term Extension (in years)Weighted-Average Payment Delay
(in years)
Commercial:
C&I$371 
(1)
— %
(1)
1.30.9
CRE— 3.00 %2.10.0
Consumer:
Single-family residential— — %9.31.8
HELOCs— 0.11 %14.24.6
Total$371 
(1)Comprised of C&I loans modified during the year ended December 31, 2023 where the interest was waived in addition to principal forgiveness. No recorded investment was outstanding as of December 31, 2023.
The following tables present the amortized cost basis of modified loans that, within 12 months of the modification date, experienced a subsequent default during the years ended December 31, 2025, 2024 and 2023.
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2025
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Commercial:
C&I$206 $5,073 $— $— $5,279 
CRE29,991 — — — 29,991 
Total commercial30,197 5,073 — — 35,270 
Consumer:
Single-family residential— 3,706 — 1,038 4,744 
HELOCs— 3,869 746 483 5,098 
Total consumer— 7,575 746 1,521 9,842 
Total$30,197 $12,648 $746 $1,521 $45,112 
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2024
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Commercial:
C&I$3,684 $4,937 $— $— $8,621 
Total commercial3,684 4,937 — — 8,621 
Consumer:
Single-family residential— 10,223 141 2,462 12,826 
HELOCs— 4,690 517 — 5,207 
Total consumer— 14,913 658 2,462 18,033 
Total$3,684 $19,850 $658 $2,462 $26,654 
Loans Modified that Subsequently Defaulted During the Year Ended December 31, 2023
($ in thousands)Term ExtensionPayment DelayCombination: Rate Reduction/ Payment DelayCombination: Term Extension/ Payment DelayTotal
Consumer:
Single-family residential$— $267 $— $— $267 
HELOCs— 749 — — 749 
Total consumer— 1,016 — — 1,016 
Total$— $1,016 $— $— $1,016 
Schedule of Financing Receivable, Modified, Payment Performance The following table presents the performance of loans that were modified during the years ended December 31, 2025, 2024 and 2023.
Payment Performance as of December 31, 2025
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$185,058 $806 $2,165 $188,029 
CRE167,286 — — 167,286 
Multifamily residential275 — — 275 
Construction and land9,451 — — 9,451 
Total commercial362,070 806 2,165 365,041 
Consumer:
Single-family residential25,119 5,577 1,251 31,947 
HELOCs13,217 2,886 1,268 17,371 
Total consumer38,336 8,463 2,519 49,318 
Total$400,406 $9,269 $4,684 $414,359 
Total nonaccrual loans included above
$11,888 $206 $4,684 $16,778 
Payment Performance as of December 31, 2024
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$71,324 $12,198 $— $83,522 
CRE92,310 — — 92,310 
Total commercial163,634 12,198 — 175,832 
Consumer:
Single-family residential9,082 4,218 2,459 15,759 
HELOCs8,591 3,069 3,160 14,820 
Total consumer17,673 7,287 5,619 30,579 
Total$181,307 $19,485 $5,619 $206,411 
Total nonaccrual loans included above$9,209 $142 $5,619 $14,970 
Payment Performance as of December 31, 2023
($ in thousands)Current30-89 Days Past Due90+ Days Past DueTotal
Commercial:
C&I$52,087 $8,153 $9,306 $69,546 
CRE46,409 — — 46,409 
Total commercial98,496 8,153 9,306 115,955 
Consumer:
Single-family residential11,197 2,425 547 14,169 
HELOCs4,207 177 749 5,133 
Total consumer15,404 2,602 1,296 19,302 
Total$113,900 $10,755 $10,602 $135,257 
Total nonaccrual loans included above$8,666 $310 $10,602 $19,578 
Schedule of Financing Receivable Credit Quality Indicators, Key Credit Risk Characteristics and Macroeconomic Variables
The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&IAge percentage, size at origination, delinquency status, sector and risk ratingUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, GDP, and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and Home Price Indices
Other consumerLoss rate approachImmaterial - Macroeconomic variables are included in the qualitative estimate.
Schedule Of Activity In The Allowance For Credit Losses
The following tables summarize the activity in the ALLL by portfolio segments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31, 2025
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 
ALLL recognized on PCD loans
18,175 — — — — — — 18,175 
Provision for (reversal of) credit losses on loans(a)106,941 26,825 4,386 (45)8,398 2,656 (229)148,932 
Gross charge-offs(44,996)(24,237)(8)(1,996)(57)(6)(152)(71,452)
Gross recoveries10,721 229 60 12 306 22 263 11,613 
Total net (charge-offs) recoveries(34,275)(24,008)52 (1,984)249 16 111 (59,839)
Foreign currency translation adjustment453 — — — — — — 453 
ALLL, end of period$475,613 $221,494 $36,555 $15,468 $53,463 $5,804 $1,376 $809,773 
Year Ended December 31, 2024
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 
Provision for (reversal of) credit losses on loans(a)110,791 61,908 (2,684)9,114 (10,176)(873)4,096 172,176 
Gross charge-offs(125,413)(14,236)(10)(2,289)(35)(15)(4,259)(146,257)
Gross recoveries6,505 413 436 203 9 73 — 7,639 
Total net (charge-offs) recoveries(118,908)(13,823)426 (2,086)(26)58 (4,259)(138,618)
Foreign currency translation adjustment(249)— — — — — — (249)
ALLL, end of period$384,319 $218,677 $32,117 $17,497 $44,816 $3,132 $1,494 $702,052 
Year Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
ALLL, beginning of period$371,700 $149,864 $23,373 $9,109 $35,564 $4,475 $1,560 $595,645 
Impact of ASU 2022-02 adoption5,683 337 6 — 1 1 — 6,028 
Provision for (reversal of) credit losses on loans(a)45,319 27,007 10,454 11,537 19,384 (424)294 113,571 
Gross charge-offs(36,573)(7,048)(3)(10,413)— (138)(197)(54,372)
Gross recoveries6,803 432 545 236 69 33 — 8,118 
Total net (charge-offs) recoveries(29,770)(6,616)542 (10,177)69 (105)(197)(46,254)
Foreign currency translation adjustment(247)— — — — — — (247)
ALLL, end of period$392,685 $170,592 $34,375 $10,469 $55,018 $3,947 $1,657 $668,743 
The following table summarizes the activity in the allowance for unfunded credit commitments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period$39,526 $37,699 $26,264 
Provision for credit losses on unfunded credit commitments(b)9,168 1,824 11,429 
Foreign currency translation adjustments(4)3 6 
Allowance for unfunded credit commitments, end of period48,690 39,526 37,699 
Provision for credit losses on loans, leases and unfunded credit commitments(a) + (b)$158,100 $174,000 $125,000 
Schedule of Carrying Value of Loans Transferred, Loans Sold and Purchased for the Held-for-Investment Portfolio The following tables provide information on the carrying value of loans transferred, sold and purchased during the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31, 2025
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$282,252 $39,475 $9,500 $— $331,227 
Sales (2)(3)
$264,445 $39,475 $11,316 $1,232 $316,468 
Purchases (4)
$450,314 $— $— $515,390 $965,704 
Year Ended December 31, 2024
Commercial Consumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$649,187 $9,417 $718 $— $659,322 
Sales (2)(3)
$650,256 $9,417 $718 $2,997 $663,388 
Purchases (4)
$612,364 $— $— $387,629 $999,993 
Year Ended December 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREConstruction and LandSingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$647,943 $83,282 $8,154 $— $739,379 
Sales (2)(3)
$674,919 $86,749 $8,154 $— $769,822 
Purchases (4)
$106,493 $— $— $493,282 $599,775 
(1)Includes write-downs to the ALLL related to loans transferred from held-for-investment to held-for-sale of $2 million for each of the years ended December 31, 2025 and 2024, and $5 million for the year ended December 31, 2023.
(2)Includes originated loans sold of $219 million, $508 million and $513 million for the years ended December 31, 2025, 2024 and 2023, respectively. Originated loans sold consisted primarily of C&I and CRE loans for the years ended December 31, 2025 and 2023, and consisted primarily of C&I loans for the year ended December 31, 2024.
(3)Includes $97 million, $156 million and $256 million of purchased loans sold in the secondary market for the years ended December 31, 2025, 2024 and 2023, respectively.
(4)C&I loan purchases were comprised of syndicated C&I term loans.
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Net and Variable Interest Entities [Abstract]  
Schedule of Affordable Housing, Tax Credit and CRA Investments, Net and Related Unfunded Commitments
The following table presents the investments and unfunded commitments of the Company’s affordable housing partnership, tax credit, and CRA investments, net as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Assets
Liabilities - Unfunded Commitments (1)
Assets
Liabilities - Unfunded Commitments (1)
PAM:
Affordable housing partnership investments$483,021 $172,343 $500,217 $280,919 
Tax credit and CRA investments140,723 43,878 160,429 21,202 
Equity method of accounting and other:
Tax credits and CRA investments345,748 
(2)
121,275 265,994 
(2)
105,743 
Total$969,492 $337,496 $926,640 $407,864 
(1)Included in Accrued expenses and other liabilities on the Consolidated Balance Sheet.
(2)Includes $37 million and $29 million of equity securities without readily determinable fair values as of December 31, 2025 and 2024, respectively.
Schedule of Additional Information related to the Affordable Housing, Tax Credit and CRA Investments, Net
The following table presents additional information related to the investments in affordable housing partnership, tax credit and CRA investments for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Tax credits and benefits (1):
PAM:
Affordable housing partnership investments$87,214 $70,335 $60,939 
Tax credit and CRA investments111,906 110,260 — 
Equity method of accounting and other:
Tax credit and CRA investments119,098 64,720 124,433 
Total tax credits and benefits$318,218 $245,315 $185,372 
Amortization (2):
PAM:
Affordable housing partnership investments (3)
$60,078 $46,113 $43,041 
Tax credit and CRA investments (4)
88,883 90,113 — 
Equity method of accounting and other:
Tax credit and CRA investments (5) (6)
74,795 54,242 120,299 
Total amortization$223,756 $190,468 $163,340 
(1)Includes purchased tax credits and was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025, 2024 and 2023.
(2)Amortization of investments in affordable housing partnership, tax credit and CRA investments is included in Depreciation, amortization, and accretion, net on the Consolidated Statement of Cash Flows.
(3)Amortization related to investments in qualified affordable housing partnerships under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025, 2024 and 2023.
(4)Following the adoption of ASU 2023-02 on January 1, 2024, amortization related to qualifying tax credit investments under PAM was recorded in Income tax expense on the Consolidated Statement of Income for the years ended December 31, 2025 and 2024.
(5)Amortization related to tax credit and CRA investments was recognized in Amortization of tax credit and CRA investments as part of noninterest expense on the Consolidated Statement Income for the years ended December 31, 2025, 2024 and 2023.
(6)Includes impairment charges of $1 million for the year ended December 31, 2024, and net impairment recoveries of $1 million for the year ended December 31, 2023. The activity was primarily related to historic tax credits.
Schedule of Unfunded Commitments Related to Investments in Qualified Affordable Housing Partnerships, Tax Credit and Other Investments, Estimated to be Funded
As of December 31, 2025, the Company’s unfunded commitments related to investments in affordable housing partnership, tax credit and CRA investments, net are estimated to be funded as follows:
($ in thousands)Amount
2026$279,856 
202743,982 
20286,034 
20291,440 
20301,931 
Thereafter4,253 
Total$337,496 
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposit Accounts [Abstract]  
Schedule of Deposit Liabilities, Type
The following table presents the composition of the Company’s deposits as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
Deposits:
Noninterest-bearing demand$16,697,099 $15,450,428 
Interest-bearing checking7,989,255 7,940,692 
Money market15,439,729 14,816,511 
Savings:
Domestic office1,503,006 1,583,657 
Foreign office168,798 167,963 
Time deposits (1):
Domestic office22,694,862 21,128,657 
Foreign office2,589,952 2,087,115 
Total deposits$67,082,701 $63,175,023 
(1)The aggregate amount of time deposits that met or exceeded the deposit insurance limit was $18.3 billion and $16.5 billion as of December 31, 2025 and 2024, respectively.
Schedule of Time Deposit Maturities
The following table presents the scheduled maturities of time deposits for the five years succeeding December 31, 2025:
($ in thousands)Amount
2026$24,796,653 
2027415,251 
202868,605 
20292,908 
20301,397 
Total$25,284,814 
v3.25.4
Federal Home Loan Bank Advances and Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents details of the Company’s FHLB advances and long-term debt as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Interest RateMaturity DatesAmountAmount
Parent company
Junior subordinated debt (1) — floating
5.53%12/15/2035$32,320 $32,001 
Bank
FHLB advances (2):
Floating (3)
3.87% — 3.96%
2026$2,000,000 $3,000,000 
Fixed
3.87% — 4.01%
2026750,000 500,000 
Overnight (4)
4.02%1/2/2026250,000 — 
Total FHLB advances$3,000,000 $3,500,000 
(1)As of December 31, 2025, the outstanding junior subordinated debt was issued by MCBI Statutory Trust I and had a stated interest rate of 3-month CME Term Secured Overnight Financing Rate ("SOFR") + 1.81%. The contractual interest rates for junior subordinated debt were 5.53% and 6.17% as of December 31, 2025 and 2024, respectively.
(2)The weighted-average interest rate for FHLB advances was 3.94% as of December 31, 2025.
(3)Floating interest rates are based on the SOFR plus the established spread.
(4)Overnight interest rates are based on the Standard Credit Program’s Advance Rate, as published by the FHLB.
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Before Income Taxes and Income Tax Expense (Benefit)
The following table presents the components of income before income taxes and income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Income before income taxes:
U.S.$1,686,561 $1,429,104 $1,425,756 
Foreign38,899 52,757 34,014 
Total income before income taxes1,725,460 1,481,861 1,459,770 
Current income tax expense:
Federal250,521 166,268 172,428 
State149,291 153,891 173,080 
Foreign8,235 10,399 2,240 
Total current income tax expense408,047 330,558 347,748 
Deferred income tax (benefit) expense:
Federal(20,242)(6,467)(24,319)
State12,897 (5,582)(23,415)
Foreign(430)(2,234)(1,405)
Total deferred income tax benefit(7,775)(14,283)(49,139)
Total income tax expense:
Federal230,279 159,801 148,109 
State162,188 148,309 149,665 
Foreign7,805 8,165 835 
Total income tax expense$400,272 $316,275 $298,609 
Schedule of Reconciliation of the Federal Statutory Rate to the Effective Tax Rate
The following table presents the reconciliation of the federal statutory rate to the Company’s effective tax rate for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
($ in thousands)AmountPercentAmountPercentAmountPercent
Statutory U.S. federal tax rate$362,347 21.0%$311,191 21.0%$306,552 21.0%
U.S. federal
Tax credits (1)
Tax credits and benefits under the PAM, net of amortization(29,268)(1.7)(26,147)(1.8)(4,299)(0.3)
Energy tax credit — solar
(42,406)(2.5)(52,722)(3.5)(70,364)(4.8)
Energy tax credit — energy storage
(34,408)(2.0)(11,143)(0.7)— — 
New markets tax credit— — — — (21,378)(1.5)
Other tax credits(23,802)(1.4)(18,906)(1.3)(34,076)(2.3)
Changes in valuation allowance13,353 0.8 — — — — 
Nontaxable or nondeductible items
Nondeductible FDIC insurance premiums8,474 0.5 7,719 0.5 7,007 0.5 
Other nontaxable or nondeductible items4,899 0.3 (15,041)(1.0)217 0.0 
Other, net7,549 0.4 (3,879)(0.3)(4,544)(0.3)
U.S. state and local income taxes, net of U.S. federal income tax effect (2)
125,638 7.3 116,091 7.8 118,236 8.1 
Foreign tax effects7,805 0.5 8,165 0.5 835 0.1 
Changes in unrecognized tax benefits91 0.0 947 0.1 423 0.0 
Effective tax rate$400,272 23.2%$316,275 21.3%$298,609 20.5%
(1)Following the adoption of ASU 2023-02 on January 1, 2024, the Company expanded the PAM to include qualifying investments in new markets, historic, production and energy tax credit programs, in addition to affordable housing partnerships.
(2)California state taxes made up the majority (greater than 50 percent) of state and local taxes.
Schedule of Cash Flow, Supplemental Disclosures
The following table presents the income taxes paid (net of refunds received) by the Company for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Federal$65,981 $68,371 $140,000 
State
California120,000 102,061 100,000 
New York67,001 59,049 36,732 
Other states
12,080 11,278 14,953 
Foreign13,120 6,186 — 
Total$278,182 $246,945 $291,685 
Schedule of Temporary Differences that Give Rise to a Significant Portion of Deferred Tax Assets and Liabilities
The following table summarizes the tax effects of temporary differences that give rise to a significant portion of deferred tax assets and liabilities as of December 31, 2025 and 2024:
December 31,
($ in thousands)20252024
Deferred tax assets:
Allowance for credit losses and nonperforming assets valuation allowance$251,494 $233,879 
Net unrealized losses on AFS debt and transferred securities
142,141 223,814 
Stock compensation and other accrued compensation46,825 41,118 
Lease liabilities40,714 27,644 
Tax credit and capital loss carryforwards
51,193 11,122 
Basis difference in investments
16,430 17,708 
Nonaccrual loans’ interest income
8,306 8,809 
State taxes6,548 5,808 
FDIC special assessment charge2,615 16,843 
Other13,435 14,665 
Total deferred tax assets$579,701 $601,410 
Valuation allowance(13,353)— 
Total deferred tax assets, net of valuation allowance$566,348 $601,410 
Deferred tax liabilities:
Operating lease right-of-use assets$37,225 $25,647 
Basis difference in investments
26,203 25,587 
Net unrealized gains on derivative hedges
14,704 — 
Equipment lease financing7,206 10,395 
Other7,006 26,437 
Total deferred tax liabilities$92,344 $88,066 
Net deferred tax assets$474,004 $513,344 
Schedule of Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits
The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Beginning balance$4,670 $1,193 $477 
Additions for tax positions related to prior years— 2,698 
(1)
459 
Deductions for tax positions related to prior years(446)— — 
Additions for tax positions related to current year547 779 257 
Settlements with taxing authorities(2,019)
(2)
— — 
Ending balance$2,752 $4,670 $1,193 
(1)In 2024, the increase in positions related to prior years primarily related to proposed adjustments resulting from examination of the Company’s state tax returns.
(2)In 2025, the Company settled an issue related to the examination of the Company’s prior years’ state tax returns.
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Credit-Related Commitments
The following table presents the Company’s credit-related commitments as of December 31, 2025 and 2024:
December 31,
20252024
($ in thousands)Expire in One Year or LessExpire After One Year Through Three YearsExpire After Three Years Through Five YearsExpire After Five YearsTotalTotal
Loan commitments$4,927,242 $3,887,543 $716,718 $92,460 $9,623,963 $9,128,040 
Commercial letters of credit and SBLCs1,265,040 560,517 153,113 977,620 2,956,290 2,917,029 
Total$6,192,282 $4,448,060 $869,831 $1,070,080 $12,580,253 $12,045,069 
Schedule of Guarantees Outstanding The following table presents the maximum potential future payments and carrying value of loans sold or securitized with recourse as of December 31, 2025 and 2024:
Maximum Potential Future Payments
Carrying Value (1)
December 31,December 31,
2025202420252024
($ in thousands)Expire After One Year Through Three YearsExpire After Three Years Through Five YearsExpire After Five YearsTotalTotalTotalTotal
Single-family residential loans sold or securitized with recourse$15 $323 $2,799 $3,137 $4,375 $3,137 $4,375 
Multifamily residential loans sold or securitized with recourse124 40 14,832 14,996 14,996 15,895 17,770 
Total $139 $363 $17,631 $18,133 $19,371 $19,032 $22,145 
(1)Represents the unpaid principal balance.
v3.25.4
Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense and Related Net Tax Benefits
The following table presents a summary of the total share-based compensation expense and the related net tax benefits associated with the Company’s various employee share-based compensation plans for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
($ in thousands)202520242023
Stock compensation costs$76,189 $45,535 $39,867 
Related net tax benefits for stock compensation plans$3,041 $997 $8,959 
Summary of Activities for Time-Based and Performance-Based Restricted Stock Units
The following table presents a summary of the activities for the Company’s time- and performance-based RSUs that were settled in shares for the year ended December 31, 2025. The number of performance-based RSUs stated below reflects the number of awards granted on the grant date:
Time-Based RSUsPerformance-Based RSUs
SharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Outstanding, January 1, 2025
1,348,612 $75.70 282,061 $79.48 
Granted473,818 $95.20 88,660 $95.34 
Vested(359,890)$78.17 (87,992)$81.35 
Forfeited(110,516)$80.18 — $— 
Outstanding, December 31, 2025
1,352,024 $81.51 282,729 $83.87 
v3.25.4
Stockholders' Equity and Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity and Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Calculations
The following table presents the basic and diluted EPS calculations for the years ended December 31, 2025, 2024 and 2023. For more information on the calculation of EPS, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Earnings Per Share to the Consolidated Financial Statements in this Form 10-K.
Year Ended December 31,
($ and shares in thousands, except per share data)202520242023
Basic:
Net income$1,325,188 $1,165,586 $1,161,161 
Basic weighted-average number of shares outstanding
138,342 
(1)
138,898 141,164 
Basic EPS$9.58 $8.39 $8.23 
Diluted:
Net income$1,325,188 $1,165,586 $1,161,161 
Less: Fair value changes of liability-classified equity contracts, net of tax (2)
(996)— — 
Net income, diluted
$1,324,192 $1,165,586 $1,161,161 
Basic weighted-average number of shares outstanding
138,342 
(1)
138,898 141,164 
Add: Dilutive impact of unvested RSUs and liability-classified equity contracts that are share-settled788 1,060 738 
Diluted weighted-average number of shares outstanding139,130 139,958 141,902 
Diluted EPS$9.52 $8.33 $8.18 
(1)Includes retirement-eligible employees’ awards.
(2)Applied blended statutory tax rate of 28.02% for the year ended December 31, 2025.
v3.25.4
Accumulated Other Comprehensive (Loss) Income (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of the Changes in the Components of Accumulated Other Comprehensive (Loss) Income Balances
The following table presents the changes in the components of AOCI balances for the years ended December 31, 2025, 2024 and 2023:
($ in thousands)
Debt Securities (1)
Cash Flow Hedges
Foreign Currency Translation Adjustments (2)
Total
Balance, December 31, 2022$(694,815)$(49,531)$(21,283)$(765,629)
Net unrealized gains (losses) arising during the period
76,930 (4,277)(56)72,597 
Amounts reclassified from AOCI16,004 56,432 — 72,436 
Changes, net of tax92,934 52,155 (56)145,033 
Balance, December 31, 2023$(601,881)$2,624 $(21,339)$(620,596)
Net unrealized gains (losses) arising during the period50,302 (87,447)(982)(38,127)
Amounts reclassified from AOCI9,427 64,036 — 73,463 
Changes, net of tax59,729 (23,411)(982)35,336 
Balance, December 31, 2024$(542,152)$(20,787)$(22,321)$(585,260)
Net unrealized gains arising during the period
177,668 34,108 1,734 213,510 
Amounts reclassified from AOCI11,252 14,888 — 26,140 
Changes, net of tax188,920 48,996 1,734 239,650 
Balance, December 31, 2025$(353,232)$28,209 $(20,587)$(345,610)
(1)Includes after-tax unamortized losses related to AFS debt securities that were transferred to HTM in 2022.
(2)Represents foreign currency translation adjustments related to the Company’s net investments in non-U.S. operations, including related hedges.
Schedule of Components of Other Comprehensive (Loss) Income, Reclassifications to Net income and the Related Tax Effects
The following table presents the components of other comprehensive (loss) income, reclassifications to net income and the related tax effects for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
($ in thousands)Before-TaxTax Effect Net-of-TaxBefore-TaxTax Effect Net-of-TaxBefore-TaxTax Effect Net-of-Tax
Debt securities:
Net unrealized gains on AFS debt securities arising during the period
$252,366 $(74,698)$177,668 $71,259 $(20,957)$50,302 $109,216 $(32,286)$76,930 
Reclassification adjustments:
Net realized losses (gains) on AFS debt securities reclassified into net income (1)
937 (277)660 (2,069)612 (1,457)6,862 
(2)
(2,029)4,833 
Amortization of unrealized losses on transferred securities (3)
15,038 (4,446)10,592 15,452 (4,568)10,884 15,860 (4,689)11,171 
Net change268,341 (79,421)188,920 84,642 (24,913)59,729 131,938 (39,004)92,934 
Cash flow hedges:
Net unrealized gains (losses) arising during the period
48,016 (13,908)34,108 (124,382)36,935 (87,447)(5,767)1,490 (4,277)
Net realized losses reclassified into net income (4)
20,959 (6,071)14,888 91,083 (27,047)64,036 79,843 (23,411)56,432 
Net change68,975 (19,979)48,996 (33,299)9,888 (23,411)74,076 (21,921)52,155 
Foreign currency translation adjustments, net of hedges:
Net unrealized gains (losses) arising during the period
1,641 93 1,734 (809)(173)(982)698 (754)(56)
Net change1,641 93 1,734 (809)(173)(982)698 (754)(56)
Other comprehensive income
$338,957 $(99,307)$239,650 $50,534 $(15,198)$35,336 $206,712 $(61,679)$145,033 
(1)Pre-tax amounts were reported in Net gains (losses) on AFS debt securities and Provision for Credit Losses on the Consolidated Statement of Income Refer to Note 4 — Securities — Realized Gains and Credit Losses for further details.
(2)Represents the net loss related to an AFS debt security that was written-off in the first quarter of 2023 and subsequently sold during the fourth quarter of 2023.
(3)Represents unrealized losses amortized over the remaining useful lives of securities that were transferred from the AFS to HTM portfolio in 2022.
(4)Pre-tax amounts related to cash flow hedges on variable rate loans and long-term borrowings, where applicable, were reported in Interest and dividend income and in Interest expense, respectively, on the Consolidated Statement of Income. In 2023, pre-tax amount also includes the terminated cash flow hedge where the forecasted cash flows were no longer probable to occur and was reported in Noninterest income on the Consolidated Statement of Income.
v3.25.4
Regulatory Requirements and Matters (Tables)
 12 Months Ended
Dec. 31, 2025
Banking and Thrift, Interest [Abstract]  
Schedule of Regulatory Capital Information The following table presents the regulatory capital information of the Company and the Bank as of December 31, 2025 and 2024:
Basel III
December 31, 2025
December 31, 2024 (1)
($ in thousands)AmountRatioAmountRatioMinimum Regulatory Requirements
Minimum Regulatory Requirements including Capital Conservation Buffer (3)
Well-Capitalized Requirement
Total capital (to risk-weighted assets)
Company$9,480,208 16.4%$8,561,797 15.6%8.0%10.5%10.0%
East West Bank$8,694,701 15.1%$8,053,389 14.7%8.0%10.5%10.0%
Tier 1 capital (to risk-weighted assets)
Company$8,721,523 15.1%$7,839,816 14.3%6.0%8.5%6.0%
East West Bank$7,973,536 13.9%$7,367,996 13.4%6.0%8.5%8.0%
CET1 capital (to risk-weighted assets)
Company (2)
$8,721,523 15.1%$7,839,816 14.3%4.5%7.0%N/A
East West Bank$7,973,536 13.9%$7,367,996 13.4%4.5%7.0%6.5%
Tier 1 leverage capital (to adjusted quarterly average assets)
Company (2)
$8,721,523 10.9%$7,839,816 10.4%4.0%4.0%N/A
East West Bank$7,973,536 10.0%$7,367,996 9.8%4.0%4.0%5.0%
N/A — Not applicable.
(1)Reflected a delay of the estimated impact of CECL on regulatory capital in accordance with regulatory capital rules.
(2)The well-capitalized requirements for CET1 capital and Tier 1 leverage capital apply only to the Bank since there is no CET1 capital ratio or Tier 1 leverage capital ratio component in the definition of a well-capitalized bank holding company.
(3)Includes a 2.5% capital conservation buffer requirement above the minimum risk-based capital ratios, where applicable.
v3.25.4
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Operating Results and Key Financial Measures by Operating Segments
The following tables present the operating results and other key financial measures for the individual operating segments as of and for the years ended December 31, 2025, 2024 and 2023:
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2025
Net interest income before provision for (reversal of) credit losses
$1,079,288 $1,028,314 $445,027 $2,552,629 
Noninterest income120,779 218,177 40,271 379,227 
Total revenue before provision for (reversal of) credit losses
1,200,067 1,246,491 485,298 2,931,856 
Provision for (reversal of) credit losses
26,044 152,085 (18,129)160,000 
Compensation and employee benefits240,500 246,303 131,950 618,753 
Other noninterest expense (1)
229,833 157,616 40,194 427,643 
Total noninterest expense470,333 403,919 172,144 1,046,396 
Segment income before income taxes
703,690 690,487 331,283 1,725,460 
Segment net income$502,687 $493,508 $328,993 $1,325,188 
Average balances:
Loans$20,313,671 $34,000,936 $310,352 $54,624,959 
Deposits$33,384,458 $27,137,950 $4,326,953 $64,849,361 
As of December 31, 2025
Segment assets$21,384,121 $37,393,886 $21,656,990 $80,434,997 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2024
Net interest income before provision for (reversal of) credit losses
$1,152,033 $1,125,931 $752 $2,278,716 
Noninterest income108,773 197,780 28,665 335,218 
Total revenue before provision for (reversal of) credit losses
1,260,806 1,323,711 29,417 2,613,934 
Provision for (reversal of) credit losses
8,691 166,953 (1,644)174,000 
Compensation and employee benefits217,612 234,240 98,882 550,734 
Other noninterest expense (1)
234,494 161,969 10,876 407,339 
Total noninterest expense452,106 396,209 109,758 958,073 
Segment income (loss) before income taxes800,009 760,549 (78,697)1,481,861 
Segment net income$563,218 $535,652 $66,716 $1,165,586 
Average balances:
Loans$18,966,662 $32,996,221 $405,897 $52,368,780 
Deposits$30,815,912 $25,820,956 $3,036,171 $59,673,039 
As of December 31, 2024
Segment assets$20,084,814 $35,646,939 $20,244,722 $75,976,475 
($ in thousands)Consumer and Business BankingCommercial BankingTreasury and OtherTotal
Year Ended December 31, 2023
Net interest income (loss) before provision for credit losses$1,225,954 $1,116,013 $(29,713)$2,312,254 
Noninterest income103,210 168,502 21,400 293,112 
Total revenue (loss) before provision for credit losses1,329,164 1,284,515 (8,313)2,605,366 
Provision for credit losses21,454 100,391 3,155 125,000 
Compensation and employee benefits203,387 217,663 87,488 508,538 
Other noninterest expense (1)
261,406 158,949 91,703 512,058 
Total noninterest expense464,793 376,612 179,191 1,020,596 
Segment income (loss) before income taxes842,917 807,512 (190,659)1,459,770 
Segment net income (loss)$594,965 $570,153 $(3,957)$1,161,161 
Average balances:
Loans$17,739,984 $31,365,547 $439,605 $49,545,136 
Deposits$28,174,781 $23,304,066 $3,483,884 $54,962,731 
As of December 31, 2023
Segment assets$19,165,172 $35,020,106 $15,427,606 $69,612,884 
(1)The Consumer and Business Banking segment's other noninterest expense is primarily comprised of corporate overhead allocated expenses, occupancy and equipment expense, and other operating expenses. The Commercial Banking segment’s other noninterest expense is primarily comprised of corporate overhead allocated expenses, deposit account expense, and other operating expenses. The Treasury and Other segment's other noninterest expense is primarily comprised of amortization of tax credit and CRA investments, and other operating expenses, net of any corporate overhead expenses allocated to other segments.
v3.25.4
Parent Company Condensed Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Schedule of Condensed Balance Sheet
The following tables present the Parent Company-only condensed financial statements:

CONDENSED BALANCE SHEET
December 31,
($ in thousands)20252024
ASSETS
Cash and cash equivalents
$664,002 $394,919 
Investments in subsidiaries:
Bank8,151,065 7,251,084 
Nonbank11,003 10,423 
Other assets130,535 125,552 
TOTAL $8,956,605 $7,781,978 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
Long-term debt$32,320 $32,001 
Other liabilities25,083 26,923 
Stockholders’ equity8,899,202 7,723,054 
TOTAL $8,956,605 $7,781,978 
Schedule of Condensed Statement of Income
CONDENSED STATEMENT OF INCOME
Year Ended December 31,
($ in thousands)202520242023
Dividends from subsidiaries:
Bank$750,000 $540,000 $704,000 
Nonbank66 127 322 
Other investment income (losses) (1)
2,115 (954)(2,738)
Other income714 31 — 
Total income752,895 539,204 701,584 
Interest expense on long-term debt2,527 4,507 10,889 
Compensation and employee benefits11,132 7,283 7,204 
Other expense (income) (2)
1,850 1,839 (1,086)
Total expense15,509 13,629 17,007 
Income before income tax benefit and equity in undistributed income of subsidiaries
737,386 525,575 684,577 
Income tax benefit3,510 4,143 5,844 
Undistributed earnings of subsidiaries, primarily bank584,292 635,868 470,740 
Net income$1,325,188 $1,165,586 $1,161,161 
(1)Includes $1 million in DC Solar recoveries for the year ended December 31, 2025.
(2)Includes $307 thousand and $3 million in DC Solar recoveries for the years ended December 31, 2025 and 2023, respectively.
Schedule of Condensed Statement of Cash Flows
CONDENSED STATEMENT OF CASH FLOWS
Year Ended December 31,
($ in thousands)202520242023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income$1,325,188 $1,165,586 $1,161,161 
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiaries, principally bank(584,292)(635,868)(470,740)
Deferred income tax expense62 2,788 948 
Net change in other assets(5,549)(6,912)(4,160)
Net change in other liabilities(1,686)(802)(47)
Other operating activities, net1,083 1,265 2,443 
Net cash provided by operating activities734,806 526,057 689,605 
CASH FLOWS FROM INVESTING ACTIVITIES
AFS debt securities:
Proceeds from maturities
1,945,000 — — 
Purchases
(1,944,333)— — 
Redemption of trust preferred securities— 3,558 — 
Other investing activities, net(732)(494)(95,095)
Net cash (used in) provided by investing activities(65)3,064 (95,095)
CASH FLOWS FROM FINANCING ACTIVITIES
Long-term debt:
Repayment of junior subordinated debt
— (116,558)— 
Common stock:
Proceeds from issuance pursuant to various stock compensation plans and agreements3,212 3,023 3,208 
Stock tendered for payment of withholding taxes(19,239)(14,877)(23,751)
Repurchase of common stock pursuant to the stock repurchase program(115,590)(143,082)(82,174)
Cash dividends paid(334,041)(308,478)(274,554)
Net cash used in financing activities(465,658)(579,972)(377,271)
Net increase (decrease) in cash and cash equivalents
269,083 (50,851)217,239 
Cash and cash equivalents, beginning of year394,919 445,770 228,531 
Cash and cash equivalents, end of year$664,002 $394,919 $445,770 
v3.25.4
Summary of Significant Accounting Policies - Organization and Principles of Consolidation (Details)
Dec. 31, 2025
trust
location
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Number of banking locations (over) | location 110
Principles of Consolidation  
Number of wholly owned subsidiaries that are statutory business trusts | trust 1
v3.25.4
Summary of Significant Accounting Policies - Schedule of Premises and Equipment, Net (Details)
Dec. 31, 2025
Buildings  
Premises and equipment  
Estimated useful life 25 years
Building improvements  
Premises and equipment  
Estimated useful life 15 years
Furniture, fixtures and equipment, including computer equipment | Minimum  
Premises and equipment  
Estimated useful life 3 years
Furniture, fixtures and equipment, including computer equipment | Maximum  
Premises and equipment  
Estimated useful life 7 years
v3.25.4
Summary of Significant Accounting Policies - Goodwill (Details)
 12 Months Ended
Dec. 31, 2025
segment
Accounting Policies [Abstract]  
Number of reportable segments 3
v3.25.4
Summary of Significant Accounting Policies - Stock-Based Compensation (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Share-Based Payment Arrangement  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Accelerated stock-based compensation expense $ 31
v3.25.4
Summary of Significant Accounting Policies - Revenue from Contract with Customers (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Service Charges, Deposit Account Fees, Card Income and Wealth Managment Fees | Revenue Benchmark | Customer Concentration Risk      
Disaggregation of Revenue [Line Items]      
Revenue streams, percent of total non-interest income 43.00% 43.00% 41.00%
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Narrative (Details) - Rayliant Global Advisors Limited
shares in Thousands, $ in Millions
 3 Months Ended
Sep. 30, 2023
USD ($)
shares
Investments in Tax Credit and Other Investments, Net  
Equity method investment, ownership (percent) 49.99%
Number of shares (in shares) | shares 349
Payments to acquire equity method investments | $ $ 95
Minimum | Performance-based RSUs  
Investments in Tax Credit and Other Investments, Net  
Shares based upon achievement of specified financial performance conditions (as percentage) 20.00%
Maximum | Performance-based RSUs  
Investments in Tax Credit and Other Investments, Net  
Shares based upon achievement of specified financial performance conditions (as percentage) 200.00%
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of Financial Assets (Liabilities) Measured At Fair Value On a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Affordable housing partnership, tax credit and CRA investments, net:    
Total affordable housing partnership, tax credit and CRA investments, net $ 969,492 $ 926,640
Derivative assets:    
Derivative assets - Fair value 409,467 523,133
Net derivative assets 151,942 95,841
Derivative liabilities - Fair value 385,973 545,885
Net derivative liabilities 284,333 433,601
Fair Value 13,212,220 10,846,811
Government National Mortgage Association (GNMA)    
Derivative assets:    
Fair Value 9,600,000 7,200,000
U.S. Treasury securities    
Derivative assets:    
Fair Value 993,913 638,265
U.S. government agency and U.S. government sponsored enterprise debt securities    
Derivative assets:    
Fair Value 257,654 262,587
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
Derivative assets:    
Fair Value 265,338 426,214
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
Derivative assets:    
Fair Value 10,132,653 7,738,260
Municipal securities    
Derivative assets:    
Fair Value 243,102 250,153
Non-agency commercial mortgage-backed securities    
Derivative assets:    
Fair Value 190,948 258,470
Non-agency residential mortgage-backed Securities    
Derivative assets:    
Fair Value 393,787 433,608
Corporate debt securities    
Derivative assets:    
Fair Value 464,981 526,166
Foreign government bonds    
Derivative assets:    
Fair Value 238,455 233,880
Asset-backed securities    
Derivative assets:    
Fair Value 31,389 34,715
Collateralized loan obligations (“CLOs”)    
Derivative assets:    
Fair Value   44,493
Fair Value, Measurements, Recurring    
AFS debt securities:    
Fair Value 13,212,220 10,846,811
Affordable housing partnership, tax credit and CRA investments, net:    
Equity securities 26,396 25,021
Total affordable housing partnership, tax credit and CRA investments, net 26,396 25,021
Other assets:    
Equity securities 630 568
Total other assets 630 568
Derivative assets:    
Derivative assets - Fair value 409,467 523,133
Netting adjustments (257,525) (427,292)
Net derivative assets 151,942 95,841
Derivative liabilities - Fair value 385,973 545,885
Netting adjustments (101,640) (112,284)
Net derivative liabilities 284,333 433,601
Fair Value, Measurements, Recurring | Interest rate contracts    
Derivative assets:    
Derivative assets - Fair value 298,558 385,311
Derivative liabilities - Fair value 256,870 414,172
Fair Value, Measurements, Recurring | Foreign exchange contracts    
Derivative assets:    
Derivative assets - Fair value 44,340 89,083
Derivative liabilities - Fair value 43,160 71,254
Fair Value, Measurements, Recurring | Credit contracts    
Derivative assets:    
Derivative assets - Fair value 25 1
Derivative liabilities - Fair value 51 12
Fair Value, Measurements, Recurring | Equity contracts    
Derivative assets:    
Derivative assets - Fair value 522 239
Derivative liabilities - Fair value 13,734 15,119
Fair Value, Measurements, Recurring | Commodity contracts    
Derivative assets:    
Derivative assets - Fair value 66,022 48,499
Derivative liabilities - Fair value 72,158 45,328
Fair Value, Measurements, Recurring | U.S. Treasury securities    
AFS debt securities:    
Fair Value 993,913 638,265
Fair Value, Measurements, Recurring | U.S. government agency and U.S. government sponsored enterprise debt securities    
AFS debt securities:    
Fair Value 257,654 262,587
Fair Value, Measurements, Recurring | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 265,338 426,214
Fair Value, Measurements, Recurring | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
AFS debt securities:    
Fair Value 10,132,653 7,738,260
Fair Value, Measurements, Recurring | Municipal securities    
AFS debt securities:    
Fair Value 243,102 250,153
Fair Value, Measurements, Recurring | Non-agency commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 190,948 258,470
Fair Value, Measurements, Recurring | Non-agency residential mortgage-backed Securities    
AFS debt securities:    
Fair Value 393,787 433,608
Fair Value, Measurements, Recurring | Corporate debt securities    
AFS debt securities:    
Fair Value 464,981 526,166
Fair Value, Measurements, Recurring | Foreign government bonds    
AFS debt securities:    
Fair Value 238,455 233,880
Fair Value, Measurements, Recurring | Asset-backed securities    
AFS debt securities:    
Fair Value 31,389 34,715
Fair Value, Measurements, Recurring | Collateralized loan obligations (“CLOs”)    
AFS debt securities:    
Fair Value   44,493
Fair Value, Measurements, Recurring | Level 1    
AFS debt securities:    
Fair Value 993,913 638,265
Affordable housing partnership, tax credit and CRA investments, net:    
Equity securities 22,098 20,817
Total affordable housing partnership, tax credit and CRA investments, net 22,098 20,817
Other assets:    
Equity securities 630 568
Total other assets 630 568
Derivative assets:    
Derivative assets - Fair value 0 0
Netting adjustments 0 0
Net derivative assets 0 0
Derivative liabilities - Fair value 0 0
Netting adjustments 0 0
Net derivative liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Interest rate contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Credit contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Equity contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | Commodity contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities    
AFS debt securities:    
Fair Value 993,913 638,265
Fair Value, Measurements, Recurring | Level 1 | U.S. government agency and U.S. government sponsored enterprise debt securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Non-agency commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Non-agency residential mortgage-backed Securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Corporate debt securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign government bonds    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 1 | Collateralized loan obligations (“CLOs”)    
AFS debt securities:    
Fair Value   0
Fair Value, Measurements, Recurring | Level 2    
AFS debt securities:    
Fair Value 12,218,307 10,208,546
Affordable housing partnership, tax credit and CRA investments, net:    
Equity securities 4,298 4,204
Total affordable housing partnership, tax credit and CRA investments, net 4,298 4,204
Other assets:    
Equity securities 0 0
Total other assets 0 0
Derivative assets:    
Derivative assets - Fair value 408,945 522,894
Netting adjustments (257,525) (427,292)
Net derivative assets 151,420 95,602
Derivative liabilities - Fair value 372,239 530,766
Netting adjustments (101,640) (112,284)
Net derivative liabilities 270,599 418,482
Fair Value, Measurements, Recurring | Level 2 | Interest rate contracts    
Derivative assets:    
Derivative assets - Fair value 298,558 385,311
Derivative liabilities - Fair value 256,870 414,172
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts    
Derivative assets:    
Derivative assets - Fair value 44,340 89,083
Derivative liabilities - Fair value 43,160 71,254
Fair Value, Measurements, Recurring | Level 2 | Credit contracts    
Derivative assets:    
Derivative assets - Fair value 25 1
Derivative liabilities - Fair value 51 12
Fair Value, Measurements, Recurring | Level 2 | Equity contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 2 | Commodity contracts    
Derivative assets:    
Derivative assets - Fair value 66,022 48,499
Derivative liabilities - Fair value 72,158 45,328
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 2 | U.S. government agency and U.S. government sponsored enterprise debt securities    
AFS debt securities:    
Fair Value 257,654 262,587
Fair Value, Measurements, Recurring | Level 2 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 265,338 426,214
Fair Value, Measurements, Recurring | Level 2 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
AFS debt securities:    
Fair Value 10,132,653 7,738,260
Fair Value, Measurements, Recurring | Level 2 | Municipal securities    
AFS debt securities:    
Fair Value 243,102 250,153
Fair Value, Measurements, Recurring | Level 2 | Non-agency commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 190,948 258,470
Fair Value, Measurements, Recurring | Level 2 | Non-agency residential mortgage-backed Securities    
AFS debt securities:    
Fair Value 393,787 433,608
Fair Value, Measurements, Recurring | Level 2 | Corporate debt securities    
AFS debt securities:    
Fair Value 464,981 526,166
Fair Value, Measurements, Recurring | Level 2 | Foreign government bonds    
AFS debt securities:    
Fair Value 238,455 233,880
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities    
AFS debt securities:    
Fair Value 31,389 34,715
Fair Value, Measurements, Recurring | Level 2 | Collateralized loan obligations (“CLOs”)    
AFS debt securities:    
Fair Value   44,493
Fair Value, Measurements, Recurring | Level 3    
AFS debt securities:    
Fair Value 0 0
Affordable housing partnership, tax credit and CRA investments, net:    
Equity securities 0 0
Total affordable housing partnership, tax credit and CRA investments, net 0 0
Other assets:    
Equity securities 0 0
Total other assets 0 0
Derivative assets:    
Derivative assets - Fair value 522 239
Netting adjustments 0 0
Net derivative assets 522 239
Derivative liabilities - Fair value 13,734 15,119
Netting adjustments 0 0
Net derivative liabilities 13,734 15,119
Fair Value, Measurements, Recurring | Level 3 | Interest rate contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | Credit contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | Equity contracts    
Derivative assets:    
Derivative assets - Fair value 522 239
Derivative liabilities - Fair value 13,734 15,119
Fair Value, Measurements, Recurring | Level 3 | Commodity contracts    
Derivative assets:    
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 0 0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | U.S. government agency and U.S. government sponsored enterprise debt securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Non-agency commercial mortgage-backed securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Non-agency residential mortgage-backed Securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Foreign government bonds    
AFS debt securities:    
Fair Value 0 0
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities    
AFS debt securities:    
Fair Value $ 0 0
Fair Value, Measurements, Recurring | Level 3 | Collateralized loan obligations (“CLOs”)    
AFS debt securities:    
Fair Value   $ 0
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of Reconciliation Of The Beginning And Ending Balances Of Equity Contracts Measured At Fair Value On a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - Equity contracts - Fair Value, Measurements, Recurring - Level 3 - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative assets:      
Beginning balance $ 239 $ 336 $ 323
Total losses included in earnings (156) (97) (79)
Issuances 439 0 92
Ending balance 522 239 336
Derivative liabilities:      
Beginning balance 15,119 15,119 0
Total gains included in earnings (1,385) 0 0
Issuances 0 0 15,119
Ending balance $ 13,734 $ 15,119 $ 15,119
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Lending and loan servicing fees Lending and loan servicing fees Lending and loan servicing fees
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of Quantitative Information About Significant Unobservable Inputs Used In The Valuation Of Level 3 Fair Value Measurements (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Derivative assets:    
Derivative assets - Fair value $ 409,467 $ 523,133
Derivative liabilities:    
Derivative liabilities - Fair value 385,973 545,885
Affordable housing partnership, tax credit and CRA investments, net 969,492 926,640
Fair Value, Measurements, Recurring    
Derivative assets:    
Derivative assets - Fair value 409,467 523,133
Derivative liabilities:    
Derivative liabilities - Fair value 385,973 545,885
Fair Value, Measurements, Nonrecurring    
Derivative liabilities:    
Loans held-for-investment 19,251 61,486
Affordable housing partnership, tax credit and CRA investments, net 953 5,000
OREO 13,035 19,386
Level 3 | Fair Value, Measurements, Recurring    
Derivative assets:    
Derivative assets - Fair value 522 239
Derivative liabilities:    
Derivative liabilities - Fair value 13,734 15,119
Level 3 | Fair Value, Measurements, Nonrecurring    
Derivative liabilities:    
Loans held-for-investment 19,251 61,486
Affordable housing partnership, tax credit and CRA investments, net 953 5,000
OREO 13,035 19,386
Level 3 | Fair Value, Measurements, Nonrecurring | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment 4,516 910
Level 3 | Fair Value, Measurements, Nonrecurring | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment   22,993
Level 3 | Fair Value, Measurements, Nonrecurring | Fair value of property    
Derivative liabilities:    
Loans held-for-investment 14,735 37,583
OREO $ 13,035 19,386
Level 3 | Fair Value, Measurements, Nonrecurring | Individual analysis of each investment    
Derivative liabilities:    
Affordable housing partnership, tax credit and CRA investments, net   $ 5,000
Level 3 | Fair Value, Measurements, Nonrecurring | Discount | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment, measurement input   50.00%
Level 3 | Fair Value, Measurements, Nonrecurring | Selling cost | Fair value of property    
Derivative liabilities:    
Loans held-for-investment, measurement input 8.00%  
OREO, measurement input 0.08 0.08
Level 3 | Fair Value, Measurements, Nonrecurring | Minimum | Discount | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment, measurement input 75.00%  
Level 3 | Fair Value, Measurements, Nonrecurring | Minimum | Selling cost | Fair value of property    
Derivative liabilities:    
Loans held-for-investment, measurement input   8.00%
Level 3 | Fair Value, Measurements, Nonrecurring | Maximum | Discount | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment, measurement input 100.00%  
Level 3 | Fair Value, Measurements, Nonrecurring | Maximum | Selling cost | Fair value of property    
Derivative liabilities:    
Loans held-for-investment, measurement input   20.00%
Level 3 | Fair Value, Measurements, Nonrecurring | Weighted Average | Discount | Fair value of collateral    
Derivative liabilities:    
Loans held-for-investment, measurement input 75.00% 50.00%
Level 3 | Fair Value, Measurements, Nonrecurring | Weighted Average | Selling cost | Fair value of property    
Derivative liabilities:    
Loans held-for-investment, measurement input 8.00% 10.00%
OREO, measurement input 0.08 0.08
Equity contracts | Fair Value, Measurements, Recurring    
Derivative assets:    
Derivative assets - Fair value $ 522 $ 239
Derivative liabilities:    
Derivative liabilities - Fair value 13,734 15,119
Equity contracts | Level 3 | Fair Value, Measurements, Recurring    
Derivative assets:    
Derivative assets - Fair value 522 239
Derivative liabilities:    
Derivative liabilities - Fair value $ 13,734 $ 15,119
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Liquidity discount | Black-Scholes option pricing model    
Derivative assets:    
Derivative assets, measurement input 0.47 0.47
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Payout % based on operating revenue and measure of operating profit of investee | Internal model    
Derivative liabilities:    
Derivative liabilities, measurement input 0.35 0.84
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Minimum | Equity volatility | Black-Scholes option pricing model    
Derivative assets:    
Derivative assets, measurement input 0.34 0.38
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Maximum | Equity volatility | Black-Scholes option pricing model    
Derivative assets:    
Derivative assets, measurement input 0.53 0.57
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Weighted Average | Equity volatility | Black-Scholes option pricing model    
Derivative assets:    
Derivative assets, measurement input 0.40 0.50
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Weighted Average | Liquidity discount | Black-Scholes option pricing model    
Derivative assets:    
Derivative assets, measurement input 0.47 0.47
Equity contracts | Level 3 | Fair Value, Measurements, Recurring | Weighted Average | Payout % based on operating revenue and measure of operating profit of investee | Internal model    
Derivative liabilities:    
Derivative liabilities, measurement input 0.35 0.84
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of Carrying Amounts Of Assets That Were Still Held And Had Fair Value Adjustments Measured On a Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets Measured on a Nonrecurring Basis    
Affordable housing partnership, tax credit and CRA investments, net $ 969,492 $ 926,640
Fair Value, Measurements, Nonrecurring    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 19,251 61,486
Affordable housing partnership, tax credit and CRA investments, net 953 5,000
OREO 13,035 19,386
Fair Value, Measurements, Nonrecurring | Commercial Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   61,378
Fair Value, Measurements, Nonrecurring | Commercial Lending | C&I    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 5,916 48,384
Fair Value, Measurements, Nonrecurring | Commercial Lending | CRE    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 13,335 1,678
Fair Value, Measurements, Nonrecurring | Commercial Lending | Construction and land    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   11,316
Fair Value, Measurements, Nonrecurring | Consumer Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   108
Fair Value, Measurements, Nonrecurring | Consumer Lending | HELOCs    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   108
Level 1 | Fair Value, Measurements, Nonrecurring    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Affordable housing partnership, tax credit and CRA investments, net 0 0
OREO 0 0
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Lending | C&I    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Lending | CRE    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Lending | Construction and land    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 1 | Fair Value, Measurements, Nonrecurring | Consumer Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 1 | Fair Value, Measurements, Nonrecurring | Consumer Lending | HELOCs    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 2 | Fair Value, Measurements, Nonrecurring    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Affordable housing partnership, tax credit and CRA investments, net 0 0
OREO 0 0
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Lending | C&I    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Lending | CRE    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 0 0
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Lending | Construction and land    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 2 | Fair Value, Measurements, Nonrecurring | Consumer Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 2 | Fair Value, Measurements, Nonrecurring | Consumer Lending | HELOCs    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   0
Level 3 | Fair Value, Measurements, Nonrecurring    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 19,251 61,486
Affordable housing partnership, tax credit and CRA investments, net 953 5,000
OREO 13,035 19,386
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   61,378
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Lending | C&I    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment 5,916 48,384
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Lending | CRE    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment $ 13,335 1,678
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Lending | Construction and land    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   11,316
Level 3 | Fair Value, Measurements, Nonrecurring | Consumer Lending    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   108
Level 3 | Fair Value, Measurements, Nonrecurring | Consumer Lending | HELOCs    
Fair Value, Assets Measured on a Nonrecurring Basis    
Loans held-for-investment   $ 108
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of Decrease In Fair Value Of Assets For Which a Fair Value Adjustment Was Recognized, Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment $ (70,757) $ (55,933) $ (8,515)
Loans held-for-investment      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (62,826) (47,513) (7,375)
Loans held-for-investment | Commercial Lending      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (62,826) (46,121) (7,335)
Loans held-for-investment | Commercial Lending | C&I      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (40,996) (43,754) (6,152)
Loans held-for-investment | Commercial Lending | Total CRE      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (21,830) (2,367) (1,183)
Loans held-for-investment | Commercial Lending | CRE      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (21,830) (78) (1,183)
Loans held-for-investment | Commercial Lending | Construction and land      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment 0 (2,289) 0
Loans held-for-investment | Consumer Lending      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment 0 (1,392) (40)
Loans held-for-investment | Consumer Lending | Single-Family Residential      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment 0 (1,392) 0
Loans held-for-investment | Consumer Lending | HELOCs      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment 0 0 (40)
Affordable housing partnership, tax credit and CRA investments, net      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment (550) (685) (1,140)
OREO      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair value adjustment $ (7,381) $ (7,735) $ 0
v3.25.4
Fair Value Measurement and Fair Value of Financial Instruments - Schedule Of The Carrying And Fair Value Estimates Per The Fair Value Hierarchy Of Financial Instruments Measured On a Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financial assets:    
Cash and cash equivalents $ 4,188,139 $ 5,250,742
Interest-bearing deposits with banks 16,189 48,198
Resale agreements 425,000 425,000
HTM debt securities 2,870,058 2,917,413
Restricted equity securities, at cost 153,484 165,259
Loans held-for-investment, net 56,068,399 53,024,585
Financial liabilities:    
Time deposits 25,284,814  
FHLB advances 3,000,000 3,500,000
Carrying Amount    
Financial assets:    
Cash and cash equivalents 4,188,139 5,250,742
Interest-bearing deposits with banks 16,189 48,198
Resale agreements 425,000 425,000
HTM debt securities 2,870,058 2,917,413
Restricted equity securities, at cost 153,484 165,259
Loans held-for-sale 20,976  
Loans held-for-investment, net 56,068,399 53,024,585
Mortgage servicing rights 4,119 5,234
Accrued interest receivable 315,669 316,392
Financial liabilities:    
Demand, checking, savings and money market deposits 41,797,887 39,959,251
Time deposits 25,284,814 23,215,772
FHLB advances 3,000,000 3,500,000
Long-term debt 32,320 32,001
Accrued interest payable 60,513 61,950
Estimated Fair Value    
Financial assets:    
Cash and cash equivalents 4,188,139 5,250,742
Interest-bearing deposits with banks 16,189 48,198
Resale agreements 351,065 329,769
HTM debt securities 2,479,746 2,387,754
Restricted equity securities, at cost 153,484 165,259
Loans held-for-sale 20,976  
Loans held-for-investment, net 54,665,865 51,328,254
Mortgage servicing rights 7,114 8,822
Accrued interest receivable 315,669 316,392
Financial liabilities:    
Demand, checking, savings and money market deposits 41,797,887 39,959,251
Time deposits 25,285,076 23,225,317
FHLB advances 3,001,878 3,497,953
Long-term debt 32,070 31,246
Accrued interest payable 60,513 61,950
Estimated Fair Value | Level 1    
Financial assets:    
Cash and cash equivalents 4,188,139 5,250,742
Interest-bearing deposits with banks 0 0
Resale agreements 0 0
HTM debt securities 524,887 499,858
Restricted equity securities, at cost 0 0
Loans held-for-sale 0  
Loans held-for-investment, net 0 0
Mortgage servicing rights 0 0
Accrued interest receivable 0 0
Financial liabilities:    
Demand, checking, savings and money market deposits 0 0
Time deposits 0 0
FHLB advances 0 0
Long-term debt 0 0
Accrued interest payable 0 0
Estimated Fair Value | Level 2    
Financial assets:    
Cash and cash equivalents 0 0
Interest-bearing deposits with banks 16,189 48,198
Resale agreements 351,065 329,769
HTM debt securities 1,954,859 1,887,896
Restricted equity securities, at cost 153,484 165,259
Loans held-for-sale 20,976  
Loans held-for-investment, net 0 0
Mortgage servicing rights 0 0
Accrued interest receivable 315,669 316,392
Financial liabilities:    
Demand, checking, savings and money market deposits 41,797,887 39,959,251
Time deposits 25,285,076 23,225,317
FHLB advances 3,001,878 3,497,953
Long-term debt 32,070 31,246
Accrued interest payable 60,513 61,950
Estimated Fair Value | Level 3    
Financial assets:    
Cash and cash equivalents 0 0
Interest-bearing deposits with banks 0 0
Resale agreements 0 0
HTM debt securities 0 0
Restricted equity securities, at cost 0 0
Loans held-for-sale 0  
Loans held-for-investment, net 54,665,865 51,328,254
Mortgage servicing rights 7,114 8,822
Accrued interest receivable 0 0
Financial liabilities:    
Demand, checking, savings and money market deposits 0 0
Time deposits 0 0
FHLB advances 0 0
Long-term debt 0 0
Accrued interest payable $ 0 $ 0
v3.25.4
Securities Purchased under Resale Agreements - Narrative (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Resale And Repurchase Agreements [Abstract]    
Gross resale agreements $ 425,000 $ 425,000
v3.25.4
Securities Purchased under Resale Agreements - Schedule Of Balance Sheet Offsetting For Resale And Repurchase Agreements (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Resale agreements    
Gross Amounts of Recognized Assets $ 425,000 $ 425,000
Gross Amounts Offset on the Consolidated Balance Sheet 0 0
Net Amounts of Assets Presented on the Consolidated Balance Sheet 425,000 425,000
Gross Amounts Not Offset on the Consolidated Balance Sheet    
Collateral received (350,953) (329,603)
Net Amount $ 74,047 $ 95,397
v3.25.4
Securities - Schedule of Debt Securities (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
AFS debt securities:    
Amortized Cost $ 13,619,781,000 $ 11,505,775,000
Gross Unrealized Gains 69,974,000 15,273,000
Gross Unrealized Losses (475,635,000) (674,237,000)
Allowance for Credit Losses (1,900,000) 0
Fair Value 13,212,220,000 10,846,811,000
HTM debt securities    
Amortized Cost 2,870,058,000 2,917,413,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (390,312,000) (529,659,000)
Allowance for Credit Losses 0 0
Fair Value 2,479,746,000 2,387,754,000
Total debt securities    
Amortized Cost 16,489,839,000 14,423,188,000
Gross Unrealized Gains 69,974,000 15,273,000
Gross Unrealized Losses (865,947,000) (1,203,896,000)
Allowance for Credit Losses (1,900,000)  
Fair Value 15,691,966,000 13,234,565,000
AFS and HTM, accrued interest 54,000,000 45,000,000
Government National Mortgage Association (GNMA)    
AFS debt securities:    
Amortized Cost 9,600,000,000 7,300,000,000
Fair Value 9,600,000,000 7,200,000,000
HTM debt securities    
Amortized Cost 79,000,000 86,000,000
Fair Value 65,000,000 68,000,000
U.S. Treasury securities    
AFS debt securities:    
Amortized Cost 1,010,053,000 676,300,000
Gross Unrealized Gains 837,000 0
Gross Unrealized Losses (16,977,000) (38,035,000)
Allowance for Credit Losses 0  
Fair Value 993,913,000 638,265,000
HTM debt securities    
Amortized Cost 540,666,000 535,080,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (15,779,000) (35,222,000)
Allowance for Credit Losses 0  
Fair Value 524,887,000 499,858,000
U.S. government agency and U.S. government-sponsored enterprise debt securities    
AFS debt securities:    
Amortized Cost 287,687,000 308,220,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (30,033,000) (45,633,000)
Allowance for Credit Losses 0  
Fair Value 257,654,000 262,587,000
HTM debt securities    
Amortized Cost 1,007,055,000 1,004,479,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (146,921,000) (200,259,000)
Allowance for Credit Losses 0  
Fair Value 860,134,000 804,220,000
US government agencies And U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
AFS debt securities:    
Amortized Cost 292,564,000 472,535,000
Gross Unrealized Gains 86,000 886,000
Gross Unrealized Losses (27,312,000) (47,207,000)
Allowance for Credit Losses 0  
Fair Value 265,338,000 426,214,000
HTM debt securities    
Amortized Cost 474,747,000 486,388,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (69,471,000) (91,461,000)
Allowance for Credit Losses 0  
Fair Value 405,276,000 394,927,000
US government agencies And U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
AFS debt securities:    
Amortized Cost 10,251,714,000 7,974,768,000
Gross Unrealized Gains 68,588,000 12,278,000
Gross Unrealized Losses (187,649,000) (248,786,000)
Allowance for Credit Losses 0  
Fair Value 10,132,653,000 7,738,260,000
HTM debt securities    
Amortized Cost 662,127,000 703,833,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (124,176,000) (155,626,000)
Allowance for Credit Losses 0  
Fair Value 537,951,000 548,207,000
Municipal securities    
AFS debt securities:    
Amortized Cost 277,275,000 287,301,000
Gross Unrealized Gains 20,000 38,000
Gross Unrealized Losses (34,193,000) (37,186,000)
Allowance for Credit Losses 0  
Fair Value 243,102,000 250,153,000
HTM debt securities    
Amortized Cost 185,463,000 187,633,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (33,965,000) (47,091,000)
Allowance for Credit Losses 0  
Fair Value 151,498,000 140,542,000
Non-agency commercial mortgage-backed Securities    
AFS debt securities:    
Amortized Cost 214,987,000 294,235,000
Gross Unrealized Gains 0 2,000
Gross Unrealized Losses (22,139,000) (35,767,000)
Allowance for Credit Losses (1,900,000)  
Fair Value 190,948,000 258,470,000
Non-agency residential mortgage-backed Securities    
AFS debt securities:    
Amortized Cost 452,208,000 514,527,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (58,421,000) (80,919,000)
Allowance for Credit Losses 0  
Fair Value 393,787,000 433,608,000
Corporate debt securities    
AFS debt securities:    
Amortized Cost 554,158,000 653,500,000
Gross Unrealized Gains 6,000 0
Gross Unrealized Losses (89,183,000) (127,334,000)
Allowance for Credit Losses 0  
Fair Value 464,981,000 526,166,000
Foreign government bonds    
AFS debt securities:    
Amortized Cost 247,249,000 244,803,000
Gross Unrealized Gains 437,000 2,069,000
Gross Unrealized Losses (9,231,000) (12,992,000)
Allowance for Credit Losses 0  
Fair Value 238,455,000 233,880,000
Asset-backed securities    
AFS debt securities:    
Amortized Cost 31,886,000 35,086,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (497,000) (371,000)
Allowance for Credit Losses 0  
Fair Value $ 31,389,000 34,715,000
Collateralized loan obligations (“CLOs”)    
AFS debt securities:    
Amortized Cost   44,500,000
Gross Unrealized Gains   0
Gross Unrealized Losses   (7,000)
Fair Value   $ 44,493,000
v3.25.4
Securities - Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value $ 1,375,852 $ 2,735,499
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months (7,107) (16,861)
Available-for-sale debt securities, More than 12 Months, Fair Value 4,071,829 4,413,878
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (468,528) (657,376)
Available-for-sale debt securities fair value, Total 5,447,681 7,149,377
Available-for-sale debt securities, Gross Unrealized Loss, Total (475,635) (674,237)
U.S. Treasury securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 323,019 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months (1,627) 0
Available-for-sale debt securities, More than 12 Months, Fair Value 575,638 638,265
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (15,350) (38,035)
Available-for-sale debt securities fair value, Total 898,657 638,265
Available-for-sale debt securities, Gross Unrealized Loss, Total (16,977) (38,035)
U.S. government agency and U.S. government sponsored enterprise debt securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 0
Available-for-sale debt securities, More than 12 Months, Fair Value 257,654 262,587
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (30,033) (45,633)
Available-for-sale debt securities fair value, Total 257,654 262,587
Available-for-sale debt securities, Gross Unrealized Loss, Total (30,033) (45,633)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Commercial mortgage-backed securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 2,741
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 (30)
Available-for-sale debt securities, More than 12 Months, Fair Value 256,503 377,756
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (27,312) (47,177)
Available-for-sale debt securities fair value, Total 256,503 380,497
Available-for-sale debt securities, Gross Unrealized Loss, Total (27,312) (47,207)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities - Residential mortgage-backed securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 1,052,833 2,719,228
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months (5,480) (16,404)
Available-for-sale debt securities, More than 12 Months, Fair Value 1,582,952 1,528,252
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (182,169) (232,382)
Available-for-sale debt securities fair value, Total 2,635,785 4,247,480
Available-for-sale debt securities, Gross Unrealized Loss, Total (187,649) (248,786)
Municipal securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 2,763
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 (95)
Available-for-sale debt securities, More than 12 Months, Fair Value 237,214 245,360
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (34,193) (37,091)
Available-for-sale debt securities fair value, Total 237,214 248,123
Available-for-sale debt securities, Gross Unrealized Loss, Total (34,193) (37,186)
Non-agency commercial mortgage-backed securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 10,767
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 (332)
Available-for-sale debt securities, More than 12 Months, Fair Value 190,948 235,668
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (22,139) (35,435)
Available-for-sale debt securities fair value, Total 190,948 246,435
Available-for-sale debt securities, Gross Unrealized Loss, Total (22,139) (35,767)
Non-agency residential mortgage-backed Securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 0
Available-for-sale debt securities, More than 12 Months, Fair Value 393,787 433,608
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (58,421) (80,919)
Available-for-sale debt securities fair value, Total 393,787 433,608
Available-for-sale debt securities, Gross Unrealized Loss, Total (58,421) (80,919)
Corporate debt securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 0
Available-for-sale debt securities, More than 12 Months, Fair Value 454,975 526,166
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (89,183) (127,334)
Available-for-sale debt securities fair value, Total 454,975 526,166
Available-for-sale debt securities, Gross Unrealized Loss, Total (89,183) (127,334)
Foreign government bonds    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 0
Available-for-sale debt securities, More than 12 Months, Fair Value 90,769 87,008
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (9,231) (12,992)
Available-for-sale debt securities fair value, Total 90,769 87,008
Available-for-sale debt securities, Gross Unrealized Loss, Total (9,231) (12,992)
Asset-backed securities    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value 0 0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months 0 0
Available-for-sale debt securities, More than 12 Months, Fair Value 31,389 34,715
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months (497) (371)
Available-for-sale debt securities fair value, Total 31,389 34,715
Available-for-sale debt securities, Gross Unrealized Loss, Total $ (497) (371)
Collateralized loan obligations (“CLOs”)    
Schedule of Available-for-sale Debt Securities    
Available-for-sale debt securities, Less than 12 Months, Fair Value   0
Available-for-sale debt securities, Gross Unrealized Loss, Less than 12 Months   0
Available-for-sale debt securities, More than 12 Months, Fair Value   44,493
Available-for-sale debt securities, Gross Unrealized Loss, More than 12 Months   (7)
Available-for-sale debt securities fair value, Total   44,493
Available-for-sale debt securities, Gross Unrealized Loss, Total   $ (7)
v3.25.4
Securities - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
Number of available-for-sale debt securities in an unrealized loss position | security 429 541  
Debt securities, available-for-sale, allowance for credit loss $ 1,900,000 $ 0  
Allowance for credit losses on available-for-sale debt securities 1,900,000 0 $ 0
Allowance for credit losses 0 0  
Asset Pledged as Collateral      
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
AFS and HTM debt securities carrying value 4,600,000,000 $ 5,400,000,000  
Prepositioned For Federal Reserve Bank Standing Repurchase Agreement Facility      
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
AFS and HTM debt securities carrying value $ 4,600,000,000    
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities      
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
Number of available-for-sale debt securities in an unrealized loss position | security 222 290  
Corporate debt securities      
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
Number of available-for-sale debt securities in an unrealized loss position | security 47 66  
Debt securities, available-for-sale, allowance for credit loss $ 0    
Non-agency mortgage-backed securities      
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]      
Number of available-for-sale debt securities in an unrealized loss position | security 66 83  
Debt securities, available-for-sale, allowance for credit loss $ 2,000,000    
Allowance for credit losses on available-for-sale debt securities $ 2,000,000    
v3.25.4
Securities - Schedule of the Gross Realized Gains and Tax Expense, Available-for-Sale (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Gross realized gains from sales $ 963,000 $ 2,069,000 $ 3,138,000
Credit losses (1,900,000) 0 0
Impairment write-off 0 0 (10,000,000)
Related tax (benefit) expense $ (277,000) $ 612,000 (2,029,000)
Available-for-sale, realized loss     $ 7,000,000
v3.25.4
Securities - Schedule of Composition of Interest Income on Debt Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Taxable interest $ 607,311 $ 429,003 $ 255,475
Nontaxable interest 14,626 20,062 20,715
Total interest income on debt securities $ 621,937 $ 449,065 $ 276,190
v3.25.4
Securities - Scheduled Contractual Maturities of AFS Debt Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Amortized cost    
Within One Year $ 582,092  
After One Year through Five Years 628,822  
After Five Years through Ten Years 908,682  
After Ten Years 11,500,185  
Total 13,619,781 $ 11,505,775
Fair value    
Within One Year 573,418  
After One Year through Five Years 618,819  
After Five Years through Ten Years 801,082  
After Ten Years 11,218,901  
Total $ 13,212,220  
Weighted-Average Yield    
Within One Year 1.44%  
After One Year through Five Years 2.76%  
After Five Years through Ten Years 2.63%  
After Ten Years 4.55%  
Total 4.21%  
U.S. Treasury securities    
Amortized cost    
Within One Year $ 440,969  
After One Year through Five Years 472,570  
After Five Years through Ten Years 96,514  
After Ten Years 0  
Total 1,010,053 676,300
Fair value    
Within One Year 432,148  
After One Year through Five Years 465,270  
After Five Years through Ten Years 96,495  
After Ten Years 0  
Total $ 993,913  
Weighted-Average Yield    
Within One Year 1.11%  
After One Year through Five Years 2.75%  
After Five Years through Ten Years 3.84%  
After Ten Years 0.00%  
Total 2.14%  
U.S. government agency and U.S. government-sponsored enterprise debt securities    
Amortized cost    
Within One Year $ 0  
After One Year through Five Years 26,677  
After Five Years through Ten Years 203,514  
After Ten Years 57,496  
Total 287,687 308,220
Fair value    
Within One Year 0  
After One Year through Five Years 26,256  
After Five Years through Ten Years 182,396  
After Ten Years 49,002  
Total $ 257,654  
Weighted-Average Yield    
Within One Year 0.00%  
After One Year through Five Years 1.58%  
After Five Years through Ten Years 2.07%  
After Ten Years 2.16%  
Total 2.04%  
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities    
Amortized cost    
Within One Year $ 0  
After One Year through Five Years 53,961  
After Five Years through Ten Years 98,540  
After Ten Years 10,391,777  
Total 10,544,278  
Fair value    
Within One Year 0  
After One Year through Five Years 52,339  
After Five Years through Ten Years 91,020  
After Ten Years 10,254,632  
Total $ 10,397,991  
Weighted-Average Yield    
Within One Year 0.00%  
After One Year through Five Years 2.82%  
After Five Years through Ten Years 2.83%  
After Ten Years 4.79%  
Total 4.76%  
Municipal securities    
Amortized cost    
Within One Year $ 7,300  
After One Year through Five Years 19,206  
After Five Years through Ten Years 22,614  
After Ten Years 228,155  
Total 277,275 287,301
Fair value    
Within One Year 7,219  
After One Year through Five Years 18,679  
After Five Years through Ten Years 19,438  
After Ten Years 197,766  
Total $ 243,102  
Weighted-Average Yield    
Within One Year 1.15%  
After One Year through Five Years 2.50%  
After Five Years through Ten Years 2.40%  
After Ten Years 2.26%  
Total 2.26%  
Non-agency mortgage-backed securities    
Amortized cost    
Within One Year $ 0  
After One Year through Five Years 1,324  
After Five Years through Ten Years 0  
After Ten Years 665,871  
Total 667,195  
Fair value    
Within One Year 0  
After One Year through Five Years 1,320  
After Five Years through Ten Years 0  
After Ten Years 583,415  
Total $ 584,735  
Weighted-Average Yield    
Within One Year 0.00%  
After One Year through Five Years 3.35%  
After Five Years through Ten Years 0.00%  
After Ten Years 2.28%  
Total 2.28%  
Corporate debt securities    
Amortized cost    
Within One Year $ 15,158  
After One Year through Five Years 26,500  
After Five Years through Ten Years 437,500  
After Ten Years 75,000  
Total 554,158 653,500
Fair value    
Within One Year 15,116  
After One Year through Five Years 26,204  
After Five Years through Ten Years 361,829  
After Ten Years 61,832  
Total $ 464,981  
Weighted-Average Yield    
Within One Year 4.07%  
After One Year through Five Years 5.23%  
After Five Years through Ten Years 2.38%  
After Ten Years 2.09%  
Total 2.53%  
Foreign government bonds    
Amortized cost    
Within One Year $ 118,665  
After One Year through Five Years 28,584  
After Five Years through Ten Years 50,000  
After Ten Years 50,000  
Total 247,249 244,803
Fair value    
Within One Year 118,935  
After One Year through Five Years 28,751  
After Five Years through Ten Years 49,904  
After Ten Years 40,865  
Total $ 238,455  
Weighted-Average Yield    
Within One Year 2.31%  
After One Year through Five Years 1.81%  
After Five Years through Ten Years 4.34%  
After Ten Years 1.50%  
Total 2.50%  
Asset-backed securities    
Amortized cost    
Within One Year $ 0  
After One Year through Five Years 0  
After Five Years through Ten Years 0  
After Ten Years 31,886  
Total 31,886 $ 35,086
Fair value    
Within One Year 0  
After One Year through Five Years 0  
After Five Years through Ten Years 0  
After Ten Years 31,389  
Total $ 31,389  
Weighted-Average Yield    
Within One Year 0.00%  
After One Year through Five Years 0.00%  
After Five Years through Ten Years 0.00%  
After Ten Years 4.65%  
Total 4.65%  
v3.25.4
Securities - Scheduled Contractual Maturities of HTM Debt Securities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Amortized cost  
Within One Year $ 0
After One Year through Five Years 694,865
After Five Years through Ten Years 748,170
After Ten Years 1,427,023
Total 2,870,058
Fair value  
Within One Year 0
After One Year through Five Years 667,508
After Five Years through Ten Years 645,500
After Ten Years 1,166,738
Total $ 2,479,746
Weighted Average Yield  
Within One Year 0.00%
After One Year through Five Years 1.13%
After Five Years through Ten Years 1.89%
After Ten Years 1.79%
Total 1.66%
U.S. Treasury securities  
Amortized cost  
Within One Year $ 0
After One Year through Five Years 540,666
After Five Years through Ten Years 0
After Ten Years 0
Total 540,666
Fair value  
Within One Year 0
After One Year through Five Years 524,887
After Five Years through Ten Years 0
After Ten Years 0
Total $ 524,887
Weighted Average Yield  
Within One Year 0.00%
After One Year through Five Years 1.05%
After Five Years through Ten Years 0.00%
After Ten Years 0.00%
Total 1.05%
U.S. government agency and U.S. government-sponsored enterprise debt securities  
Amortized cost  
Within One Year $ 0
After One Year through Five Years 105,467
After Five Years through Ten Years 556,098
After Ten Years 345,490
Total 1,007,055
Fair value  
Within One Year 0
After One Year through Five Years 97,497
After Five Years through Ten Years 479,123
After Ten Years 283,514
Total $ 860,134
Weighted Average Yield  
Within One Year 0.00%
After One Year through Five Years 1.37%
After Five Years through Ten Years 1.91%
After Ten Years 2.04%
Total 1.90%
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities  
Amortized cost  
Within One Year $ 0
After One Year through Five Years 48,732
After Five Years through Ten Years 178,114
After Ten Years 910,028
Total 1,136,874
Fair value  
Within One Year 0
After One Year through Five Years 45,124
After Five Years through Ten Years 153,739
After Ten Years 744,364
Total $ 943,227
Weighted Average Yield  
Within One Year 0.00%
After One Year through Five Years 1.48%
After Five Years through Ten Years 1.81%
After Ten Years 1.67%
Total 1.68%
Municipal securities  
Amortized cost  
Within One Year $ 0
After One Year through Five Years 0
After Five Years through Ten Years 13,958
After Ten Years 171,505
Total 185,463
Fair value  
Within One Year 0
After One Year through Five Years 0
After Five Years through Ten Years 12,638
After Ten Years 138,860
Total $ 151,498
Weighted Average Yield  
Within One Year 0.00%
After One Year through Five Years 0.00%
After Five Years through Ten Years 2.35%
After Ten Years 1.99%
Total 2.02%
v3.25.4
Securities - Schedule Of Restricted Equity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
FRB of San Francisco stock $ 66,179 $ 63,930
FHLB stock 87,305 101,329
Total restricted equity securities $ 153,484 $ 165,259
v3.25.4
Derivatives - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Gross amounts recognized $ 409,467 $ 523,133
Derivative liabilities - Fair value 385,973 545,885
Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Gross amounts recognized 369,470 517,486
Derivative liabilities - Fair value 385,834 510,674
Notional amount 23,840,799 22,375,840
Interest rate contracts | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Gross amounts recognized 258,561 379,664
Derivative liabilities - Fair value 256,731 378,961
Notional amount 18,987,277 17,005,381
Interest rate contracts | Derivative instruments designated as hedging instruments | Cash Flow Hedging    
Derivative [Line Items]    
Gross amounts recognized 39,997 5,647
Derivative liabilities - Fair value 139 35,211
Notional amount 4,250,000 5,250,000
Net unrealized gain, net of tax, recorded in AOCI expected to be reclassified into earnings during the next 12 months 8,000  
Interest rate contracts | Derivative instruments designated as hedging instruments | Commercial Banking | Cash Flow Hedging    
Derivative [Line Items]    
Notional amount 4,300,000  
Foreign exchange contracts | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Gross amounts recognized 44,340 89,083
Derivative liabilities - Fair value 43,160 71,254
Notional amount $ 4,550,101 $ 5,201,460
Foreign exchange contracts | Derivatives not designated as hedging instruments | Maximum    
Derivative [Line Items]    
Original maturity (in years) 1 year 1 year
Credit Risk Contract | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Gross amounts recognized $ 25 $ 1
Derivative liabilities - Fair value 51 12
Notional amount 303,421 168,999
Credit Risk Contract | Derivatives not designated as hedging instruments | RPAs    
Derivative [Line Items]    
Gross amounts recognized 0 0
Derivative liabilities - Fair value 51 12
Notional amount 133,756 133,174
Maximum exposure of RPAs with protection sold 590 170
Credit-Risk-Related Contingent Features    
Derivative [Line Items]    
Aggregate fair value of derivative instruments in net liability position 3,000 1,000
Collateral posted 3,000 1,000
LCH | Interest rate contracts | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Gross amounts recognized 16,000 17,000
Derivative liabilities - Fair value $ 3,000 $ 15,000
v3.25.4
Derivatives - Schedule Of Notional And Gross Fair Values Of Derivatives (Details)
shares in Thousands, $ in Thousands, MMBTU in Millions, Boe in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Boe
MMBTU
company
shares
Dec. 31, 2024
USD ($)
MMBTU
Boe
company
shares
Derivative assets:    
Derivative assets - Fair value $ 409,467 $ 523,133
Less: Master netting agreements (74,138) (111,124)
Less: Cash collateral received/paid (183,387) (316,168)
Net derivative assets 151,942 95,841
Derivative liabilities:    
Derivative liabilities - Fair value 385,973 545,885
Less: Master netting agreements (74,138) (111,124)
Less: Cash collateral received/paid (27,502) (1,160)
Net derivative liabilities 284,333 433,601
Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount 23,840,799 22,375,840
Derivative assets:    
Derivative assets - Fair value 369,470 517,486
Derivative liabilities:    
Derivative liabilities - Fair value $ 385,834 $ 510,674
Derivatives not designated as hedging instruments | Performance-Based RSUs    
Derivative liabilities:    
Derivative liability granted number of shares | shares 349 349
Derivatives not designated as hedging instruments | Crude Oil    
Derivative liabilities:    
Derivative, nonmonetary notional amount, energy measure | Boe 16 21
Derivatives not designated as hedging instruments | Natural Gas    
Derivative liabilities:    
Derivative, nonmonetary notional amount, energy measure | MMBTU 364 407
Interest rate contracts | Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount $ 18,987,277 $ 17,005,381
Derivative assets:    
Derivative assets - Fair value 258,561 379,664
Derivative liabilities:    
Derivative liabilities - Fair value 256,731 378,961
Interest rate contracts | Cash Flow Hedging | Derivative instruments designated as hedging instruments    
Derivative Instruments    
Notional Amount 4,250,000 5,250,000
Derivative assets:    
Derivative assets - Fair value 39,997 5,647
Derivative liabilities:    
Derivative liabilities - Fair value 139 35,211
Commodity contracts | Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount 0 0
Derivative assets:    
Derivative assets - Fair value 66,022 48,499
Derivative liabilities:    
Derivative liabilities - Fair value 72,158 45,328
Foreign exchange contracts | Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount 4,550,101 5,201,460
Derivative assets:    
Derivative assets - Fair value 44,340 89,083
Derivative liabilities:    
Derivative liabilities - Fair value 43,160 71,254
Credit contracts | Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount 303,421 168,999
Derivative assets:    
Derivative assets - Fair value 25 1
Derivative liabilities:    
Derivative liabilities - Fair value 51 12
Equity contracts | Derivatives not designated as hedging instruments    
Derivative Instruments    
Notional Amount 0 0
Derivative assets:    
Derivative assets - Fair value 522 239
Derivative liabilities:    
Derivative liabilities - Fair value $ 13,734 $ 15,119
Private Companies | Derivatives not designated as hedging instruments    
Derivative liabilities:    
Number of companies that issued the equity (issuers portion only) | company 9 8
v3.25.4
Derivatives - Schedule Of Pre-Tax Changes In AOCI From Cash Flows Hedges (Details) - Derivative instruments designated as hedging instruments - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest rate contracts | Cash Flow Hedging      
Derivative [Line Items]      
Gains (losses) recognized in AOCI: $ 48,016 $ (124,382) $ (5,767)
Losses (gains) reclassified from AOCI into earnings: 20,959 91,083 79,843
Interest rate contracts | Cash Flow Hedging | Interest expense (for cash flow hedges on borrowings)      
Derivative [Line Items]      
Losses (gains) reclassified from AOCI into earnings: 0 0 (696)
Interest rate contracts | Cash Flow Hedging | Interest and dividend income (for cash flow hedges on loans)      
Derivative [Line Items]      
Losses (gains) reclassified from AOCI into earnings: 20,959 91,083 82,153
Interest rate contracts | Cash Flow Hedging | Noninterest income      
Derivative [Line Items]      
Losses (gains) reclassified from AOCI into earnings: 0 0 (1,614)
Foreign exchange contracts | Net investment hedges      
Derivative [Line Items]      
Gains recognized in AOCI $ 0 $ 586 $ 2,571
v3.25.4
Derivatives - Schedule of Derivatives Not Designated as Hedging Instruments (Details)
MMBTU in Thousands, Boe in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
MMBTU
Boe
Dec. 31, 2024
USD ($)
MMBTU
Boe
Derivative [Line Items]    
Derivative assets - Fair value $ 409,467 $ 523,133
Derivative liabilities - Fair value 385,973 545,885
Customer-related positions:    
Derivative [Line Items]    
Notional Amount 11,480,222 10,994,794
Derivative assets - Fair value 84,692 39,718
Derivative liabilities - Fair value 212,279 416,216
Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 12,057,156 11,212,047
Derivative assets - Fair value 218,209 429,029
Derivative liabilities - Fair value 87,612 33,999
Interest rate contracts | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 9,474,603 8,493,839
Derivative assets - Fair value 47,759 11,908
Derivative liabilities - Fair value 208,714 366,649
Interest rate contracts | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 9,512,674 8,511,542
Derivative assets - Fair value 210,802 367,756
Derivative liabilities - Fair value 48,017 12,312
Interest rate contracts | Swaps | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 7,566,889 6,854,372
Derivative assets - Fair value 47,448 11,828
Derivative liabilities - Fair value 206,794 361,256
Interest rate contracts | Swaps | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 7,604,959 6,872,075
Derivative assets - Fair value 208,860 362,323
Derivative liabilities - Fair value 47,682 12,228
Interest rate contracts | Written options | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 1,463,110 1,458,428
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 1,900 4,953
Interest rate contracts | Collars and corridors | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 444,604 181,039
Derivative assets - Fair value 311 80
Derivative liabilities - Fair value 20 440
Interest rate contracts | Collars and corridors | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 444,605 181,039
Derivative assets - Fair value 20 443
Derivative liabilities - Fair value 335 84
Interest rate contracts | Purchased options | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 1,463,110 1,458,428
Derivative assets - Fair value 1,922 4,990
Derivative liabilities - Fair value 0 0
Foreign exchange contracts | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 2,005,619 2,500,955
Derivative assets - Fair value 36,933 27,810
Derivative liabilities - Fair value 3,565 49,567
Foreign exchange contracts | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 2,544,482 2,700,505
Derivative assets - Fair value 7,407 61,273
Derivative liabilities - Fair value 39,595 21,687
Foreign exchange contracts | Forwards and spot | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 1,156,203 996,486
Derivative assets - Fair value 23,661 11,693
Derivative liabilities - Fair value 2,831 24,201
Foreign exchange contracts | Forwards and spot | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 234,278 86,750
Derivative assets - Fair value 1,602 2,318
Derivative liabilities - Fair value 3,498 1,738
Foreign exchange contracts | Swaps | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 785,956 1,504,469
Derivative assets - Fair value 13,272 16,117
Derivative liabilities - Fair value 661 25,366
Foreign exchange contracts | Swaps | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 2,246,744 2,613,755
Derivative assets - Fair value 5,718 58,955
Derivative liabilities - Fair value 36,083 19,949
Foreign exchange contracts | Written options | Customer-related positions:    
Derivative [Line Items]    
Notional Amount 63,460 0
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value 73 0
Foreign exchange contracts | Purchased options | Economic hedges and other:    
Derivative [Line Items]    
Notional Amount 63,460 0
Derivative assets - Fair value 87 0
Derivative liabilities - Fair value 14 0
Commodity contracts | Customer-related positions:    
Derivative [Line Items]    
Derivative assets - Fair value 7,919 25,609
Derivative liabilities - Fair value 67,251 32,500
Commodity contracts | Customer-related positions: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value 226 6,286
Derivative liabilities - Fair value $ 42,155 $ 10,236
Derivative, nonmonetary notional amount, energy measure | Boe 8,002 10,307
Commodity contracts | Customer-related positions: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 7,693 $ 19,323
Derivative liabilities - Fair value $ 25,096 $ 22,264
Derivative, nonmonetary notional amount, energy measure | MMBTU 184,544 205,015
Commodity contracts | Economic hedges and other:    
Derivative [Line Items]    
Derivative assets - Fair value $ 58,103 $ 22,890
Derivative liabilities - Fair value 4,907 12,828
Commodity contracts | Economic hedges and other: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value 34,033 6,026
Derivative liabilities - Fair value $ 32 $ 3,969
Derivative, nonmonetary notional amount, energy measure | Boe 8,002 10,307
Commodity contracts | Economic hedges and other: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 24,070 $ 16,864
Derivative liabilities - Fair value $ 4,875 $ 8,859
Derivative, nonmonetary notional amount, energy measure | MMBTU 179,471 201,711
Commodity contracts | Swaps | Customer-related positions: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value $ 205 $ 4,682
Derivative liabilities - Fair value $ 28,533 $ 6,874
Derivative, nonmonetary notional amount, energy measure | Boe 4,255 4,830
Commodity contracts | Swaps | Customer-related positions: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 5,814 $ 13,095
Derivative liabilities - Fair value $ 18,403 $ 17,708
Derivative, nonmonetary notional amount, energy measure | MMBTU 112,599 141,736
Commodity contracts | Swaps | Economic hedges and other: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value $ 25,309 $ 4,479
Derivative liabilities - Fair value $ 11 $ 3,893
Derivative, nonmonetary notional amount, energy measure | Boe 4,255 4,830
Commodity contracts | Swaps | Economic hedges and other: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 18,258 $ 13,323
Derivative liabilities - Fair value $ 3,963 $ 5,056
Derivative, nonmonetary notional amount, energy measure | MMBTU 110,506 139,136
Commodity contracts | Written options | Customer-related positions: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 0 $ 167
Derivative liabilities - Fair value $ 0 $ 0
Derivative, nonmonetary notional amount, energy measure | MMBTU 0 1,234
Commodity contracts | Collars | Customer-related positions: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value $ 21 $ 1,604
Derivative liabilities - Fair value $ 13,622 $ 3,362
Derivative, nonmonetary notional amount, energy measure | Boe 3,747 5,477
Commodity contracts | Collars | Customer-related positions: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 1,879 $ 6,061
Derivative liabilities - Fair value $ 6,693 $ 4,556
Derivative, nonmonetary notional amount, energy measure | MMBTU 71,945 62,045
Commodity contracts | Collars | Economic hedges and other: | Crude Oil    
Derivative [Line Items]    
Derivative assets - Fair value $ 8,724 $ 1,547
Derivative liabilities - Fair value $ 21 $ 76
Derivative, nonmonetary notional amount, energy measure | Boe 3,747 5,477
Commodity contracts | Collars | Economic hedges and other: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 5,812 $ 3,541
Derivative liabilities - Fair value $ 912 $ 3,650
Derivative, nonmonetary notional amount, energy measure | MMBTU 68,965 61,341
Commodity contracts | Purchased options | Economic hedges and other: | Natural Gas    
Derivative [Line Items]    
Derivative assets - Fair value $ 0 $ 0
Derivative liabilities - Fair value $ 0 $ 153
Derivative, nonmonetary notional amount, energy measure | MMBTU 0 1,234
v3.25.4
Derivatives - Schedule Of Notional Amounts And The Gross Fair Values Of RPAs Sold And Purchased Outstanding (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative assets - Fair value $ 409,467 $ 523,133
Derivative liabilities - Fair value 385,973 545,885
Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Notional Amount 23,840,799 22,375,840
Derivative assets - Fair value 369,470 517,486
Derivative liabilities - Fair value 385,834 510,674
Credit Risk Contract | Derivatives not designated as hedging instruments    
Derivative [Line Items]    
Notional Amount 303,421 168,999
Derivative assets - Fair value 25 1
Derivative liabilities - Fair value 51 12
Credit Risk Contract | Derivatives not designated as hedging instruments | RPAs — protection sold    
Derivative [Line Items]    
Notional Amount 133,756 133,174
Derivative assets - Fair value 0 0
Derivative liabilities - Fair value $ 51 $ 12
Weighted average remaining maturity of outstanding RPAs 2 years 8 months 12 days 1 year 7 months 6 days
Credit Risk Contract | Derivatives not designated as hedging instruments | RPAs — protection purchased    
Derivative [Line Items]    
Notional Amount $ 169,665 $ 35,825
Derivative assets - Fair value 25 1
Derivative liabilities - Fair value $ 0 $ 0
v3.25.4
Derivatives - Schedule Of The Net Gains (Losses) Recognized On The Company’s Consolidated Statement of Income Related To Derivatives Not Designated as Hedging Instruments (Details) - Derivatives not designated as hedging instruments - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains $ 51,766 $ 55,454 $ 49,815
Interest rate contracts | Customer derivative income, net of mark-to-market adjustments      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains (3,142) 549 (2,989)
Foreign exchange contracts | Foreign exchange income      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains 52,295 54,073 52,817
Credit contracts | Customer derivative income, net of mark-to-market adjustments      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains (15) 0 (1)
Equity contracts | Lending and loan servicing fees      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains 283 (97) 13
Equity contracts | Other investment income      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains 1,385 0 0
Commodity contracts | Customer derivative income, net of mark-to-market adjustments      
Derivative Instruments, Gain (Loss) [Line Items]      
Net gains $ 960 $ 929 $ (25)
v3.25.4
Derivatives - Schedule Of Gross Derivative Fair Values, The Balance Sheet Netting Adjustments And The Resulting Net Fair Values Recorded, Cash and Non-Cash Collateral Associated With Master Netting Arrangements (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Gross amounts recognized $ 409,467 $ 523,133
Less: Master netting agreements (74,138) (111,124)
Less: Cash collateral received/paid (183,387) (316,168)
Net derivative assets 151,942 95,841
Less: security collateral received (42,779) (55,222)
Net Amount 109,163 40,619
Contracts not subject to master netting arrangements, gross amounts recognized 9,000 4,000
Derivative, cash collateral received, including amount offset by fair value assets, and excess cash amount 184,000 322,000
Liabilities    
Gross amounts recognized 385,973 545,885
Less: Master netting agreements (74,138) (111,124)
Less: Cash collateral received (27,502) (1,160)
Net derivative liabilities 284,333 433,601
Less: security collateral pledged 0 0
Net Amount 284,333 433,601
Contracts not subject to master netting arrangements, gross amounts recognized 16,000 27,000
Derivative, cash collateral posted against derivative liabilities, including amount offset the derivative fair value liabilities, and excess cash amount $ 29,000 $ 1,000
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities Accrued expenses and other liabilities
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Composition Of Loans Held-For-Investment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment $ 56,878,172 $ 53,726,637    
ALLL (809,773) (702,052) $ (668,743) $ (595,645)
Loans held-for-investment, net 56,068,399 53,024,585    
Net deferred loan fees and net unamortized premiums 26,000 46,000    
Commercial Lending        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 39,912,528 37,672,102    
Commercial Lending | C&I        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 18,650,755 17,397,158    
ALLL (475,613) (384,319) (392,685) (371,700)
Commercial Lending | CRE        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 15,407,088 14,655,340    
ALLL (221,494) (218,677) (170,592) (149,864)
Commercial Lending | Multifamily Residential        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 5,112,328 4,953,442    
ALLL (36,555) (32,117) (34,375) (23,373)
Commercial Lending | Construction and land        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 742,357 666,162    
ALLL (15,468) (17,497) (10,469) (9,109)
Commercial Lending | Total CRE        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 21,261,773 20,274,944    
Consumer Lending        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 16,965,644 16,054,535    
Consumer Lending | Single-Family Residential        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 15,002,549 14,175,446    
ALLL (53,463) (44,816) (55,018) (35,564)
Consumer Lending | HELOCs        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 1,911,897 1,811,628    
ALLL (5,804) (3,132) (3,947) (4,475)
Consumer Lending | Total residential mortgage        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 16,914,446 15,987,074    
Consumer Lending | Other consumer        
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES        
Loans held-for-investment 51,198 67,461    
ALLL $ (1,376) $ (1,494) $ (1,657) $ (1,560)
v3.25.4
Loans Receivable and Allowance for Credit Losses - Composition of Loans Held-for-Investment- Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES    
Accrued interest receivable $ 251,000 $ 255,000
Interest income recognized on nonaccrual loans 7,000  
Reversal of interest income 5,000  
Loans held-for-investment 56,878,172 53,726,637
Asset Pledged as Collateral    
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES    
Loans held-for-investment $ 41,800,000 $ 38,200,000
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Loans Held-For-Investment By Loan Portfolio Segments, Internal Risk Ratings, Gross Write-Offs And Vintage Year (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 $ 9,719,398 $ 7,211,782  
Year 2 5,653,616 7,563,807  
Year 3 6,135,011 9,549,557  
Year 4 8,045,731 5,603,650  
Year 5 4,806,776 3,663,285  
Prior 8,966,065 7,419,863  
Revolving Loans 13,355,432 12,520,741  
Revolving Loans Converted to Term Loans 196,143 193,952  
Total 56,878,172 53,726,637  
Gross write-offs Total 71,452 146,257 $ 54,372
Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 9,671,422 7,127,517  
Year 2 5,570,406 7,422,477  
Year 3 5,975,946 9,316,206  
Year 4 7,772,190 5,414,088  
Year 5 4,649,165 3,567,683  
Prior 8,718,176 7,175,711  
Revolving Loans 13,189,841 12,356,727  
Revolving Loans Converted to Term Loans 189,877 173,075  
Total 55,737,023 52,553,484  
Pass | Federal Housing Administration Loan      
Financing Receivable, Credit Quality Indicator [Line Items]      
Nonaccrual loans 1,000 1,000  
Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 35,883 74,566  
Year 2 68,676 99,381  
Year 3 124,210 197,313  
Year 4 238,322 176,822  
Year 5 132,904 87,799  
Prior 209,377 209,605  
Revolving Loans 165,410 154,085  
Revolving Loans Converted to Term Loans 1,654 15,365  
Total 976,436 1,014,936  
Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 12,093 9,699  
Year 2 14,534 41,949  
Year 3 34,855 36,038  
Year 4 35,219 12,740  
Year 5 24,707 7,803  
Prior 38,512 34,547  
Revolving Loans 181 9,929  
Revolving Loans Converted to Term Loans 4,612 5,512  
Total 164,713 158,217  
Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 11,549 29  
Gross write-offs year 2 1,213 50,973  
Gross write-offs year 3 28,752 17,137  
Gross write-offs year 4 4,803 11,119  
Gross write-offs year 5 1,082 1,568  
Gross write-offs year Prior 18,304 3,025  
Gross write-offs year Revolving Loans 24 27,989  
Gross write-offs Revolving Loans Converted to Term Loans 6 5  
Gross write-offs Total 65,733 111,845  
Consumer Lending      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,911,452 2,394,531  
Year 2 1,847,167 2,782,386  
Year 3 2,363,541 3,108,350  
Year 4 2,831,381 2,090,575  
Year 5 1,874,846 1,419,106  
Prior 3,287,067 2,480,697  
Revolving Loans 1,773,347 1,673,296  
Revolving Loans Converted to Term Loans 76,843 105,594  
Total 16,965,644 16,054,535  
Loan converted to term loan 2,000 22,000 44,000
Consumer Lending | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 0 9  
Gross write-offs year 2 14 3,010  
Gross write-offs year 3 0 0  
Gross write-offs year 4 0 0  
Gross write-offs year 5 0 0  
Gross write-offs year Prior 0 0  
Gross write-offs year Revolving Loans 0 890  
Gross write-offs Revolving Loans Converted to Term Loans 6 5  
Gross write-offs Total 20 3,914  
Consumer Lending | Single-Family Residential      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,869,487 2,367,565  
Year 2 1,842,358 2,776,003  
Year 3 2,358,276 3,077,347  
Year 4 2,818,738 2,087,168  
Year 5 1,861,965 1,410,983  
Prior 3,251,725 2,456,380  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 15,002,549 14,175,446  
Gross write-offs Total 57 35 0
Consumer Lending | Single-Family Residential | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,861,764 2,360,674  
Year 2 1,837,821 2,762,921  
Year 3 2,349,242 3,074,668  
Year 4 2,808,694 2,079,323  
Year 5 1,860,110 1,407,031  
Prior 3,228,996 2,437,446  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 14,946,627 14,122,063  
Consumer Lending | Single-Family Residential | Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 3,157 4,175  
Year 2 3,646 3,409  
Year 3 5,589 750  
Year 4 5,427 5,810  
Year 5 235 1,548  
Prior 9,356 6,069  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 27,410 21,761  
Consumer Lending | Single-Family Residential | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 4,566 2,716  
Year 2 891 9,673  
Year 3 3,445 1,929  
Year 4 4,617 2,035  
Year 5 1,620 2,404  
Prior 13,373 12,865  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 28,512 31,622  
Consumer Lending | Single-Family Residential | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 0 9  
Gross write-offs year 2 14 0  
Gross write-offs year 3 0 0  
Gross write-offs year 4 0 0  
Gross write-offs year 5 0 0  
Gross write-offs year Prior 0 0  
Gross write-offs year Revolving Loans 0 0  
Gross write-offs Revolving Loans Converted to Term Loans 0 0  
Gross write-offs Total 14 9  
Consumer Lending | HELOCs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 16,819 12,050  
Year 2 4,809 6,383  
Year 3 5,216 8,011  
Year 4 8,008 3,275  
Year 5 12,752 8,123  
Prior 29,772 17,517  
Revolving Loans 1,757,678 1,650,675  
Revolving Loans Converted to Term Loans 76,843 105,594  
Total 1,911,897 1,811,628  
Gross write-offs Total 6 15 138
Consumer Lending | HELOCs | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 13,652 7,453  
Year 2 4,796 3,288  
Year 3 4,740 4,071  
Year 4 5,258 3,236  
Year 5 11,233 7,570  
Prior 22,213 8,152  
Revolving Loans 1,750,894 1,648,337  
Revolving Loans Converted to Term Loans 70,577 99,488  
Total 1,883,363 1,781,595  
Consumer Lending | HELOCs | Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 1,879 1,436  
Year 2 0 0  
Year 3 97 1,420  
Year 4 140 0  
Year 5 287 135  
Prior 526 2,064  
Revolving Loans 6,784 2,338  
Revolving Loans Converted to Term Loans 1,654 594  
Total 11,367 7,987  
Consumer Lending | HELOCs | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 1,288 3,161  
Year 2 13 3,095  
Year 3 379 2,520  
Year 4 2,610 39  
Year 5 1,232 418  
Prior 7,033 7,301  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 4,612 5,512  
Total 17,167 22,046  
Consumer Lending | HELOCs | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 0 0  
Gross write-offs year 2 0 10  
Gross write-offs year 3 0 0  
Gross write-offs year 4 0 0  
Gross write-offs year 5 0 0  
Gross write-offs year Prior 0 0  
Gross write-offs year Revolving Loans 0 0  
Gross write-offs Revolving Loans Converted to Term Loans 6 5  
Gross write-offs Total 6 15  
Consumer Lending | Total residential mortgage      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,886,306 2,379,615  
Year 2 1,847,167 2,782,386  
Year 3 2,363,492 3,085,358  
Year 4 2,826,746 2,090,443  
Year 5 1,874,717 1,419,106  
Prior 3,281,497 2,473,897  
Revolving Loans 1,757,678 1,650,675  
Revolving Loans Converted to Term Loans 76,843 105,594  
Total 16,914,446 15,987,074  
Consumer Lending | Total residential mortgage | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 0 9  
Gross write-offs year 2 14 10  
Gross write-offs year 3 0 0  
Gross write-offs year 4 0 0  
Gross write-offs year 5 0 0  
Gross write-offs year Prior 0 0  
Gross write-offs year Revolving Loans 0 0  
Gross write-offs Revolving Loans Converted to Term Loans 6 5  
Gross write-offs Total 20 24  
Consumer Lending | Other consumer      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 25,146 14,916  
Year 2 0 0  
Year 3 49 22,992  
Year 4 4,635 132  
Year 5 129 0  
Prior 5,570 6,800  
Revolving Loans 15,669 22,621  
Revolving Loans Converted to Term Loans 0 0  
Total 51,198 67,461  
Gross write-offs Total 152 4,259 197
Consumer Lending | Other consumer | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 25,146 14,916  
Year 2 0 0  
Year 3 0 22,992  
Year 4 4,635 132  
Year 5 129 0  
Prior 5,570 6,800  
Revolving Loans 15,576 22,555  
Revolving Loans Converted to Term Loans 0 0  
Total 51,056 67,395  
Consumer Lending | Other consumer | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 0 0  
Year 2 0 0  
Year 3 49 0  
Year 4 0 0  
Year 5 0 0  
Prior 0 0  
Revolving Loans 93 66  
Revolving Loans Converted to Term Loans 0 0  
Total 142 66  
Consumer Lending | Other consumer | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1   0  
Gross write-offs year 2   3,000  
Gross write-offs year 3   0  
Gross write-offs year 4   0  
Gross write-offs year 5   0  
Gross write-offs year Prior   0  
Gross write-offs year Revolving Loans   890  
Gross write-offs Revolving Loans Converted to Term Loans   0  
Gross write-offs Total   3,890  
Commercial Lending      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 6,807,946 4,817,251  
Year 2 3,806,449 4,781,421  
Year 3 3,771,470 6,441,207  
Year 4 5,214,350 3,513,075  
Year 5 2,931,930 2,244,179  
Prior 5,678,998 4,939,166  
Revolving Loans 11,582,085 10,847,445  
Revolving Loans Converted to Term Loans 119,300 88,358  
Total 39,912,528 37,672,102  
Loan converted to term loan 53,000 7,000 29,000
Commercial Lending | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 11,549 20  
Gross write-offs year 2 1,199 47,963  
Gross write-offs year 3 28,752 17,137  
Gross write-offs year 4 4,803 11,119  
Gross write-offs year 5 1,082 1,568  
Gross write-offs year Prior 18,304 3,025  
Gross write-offs year Revolving Loans 24 27,099  
Gross write-offs Revolving Loans Converted to Term Loans 0 0  
Gross write-offs Total 65,713 107,931  
Commercial Lending | C&I      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 3,016,862 2,644,162  
Year 2 1,757,317 1,589,544  
Year 3 908,739 1,080,900  
Year 4 631,663 730,036  
Year 5 484,751 257,291  
Prior 316,190 336,179  
Revolving Loans 11,467,265 10,736,014  
Revolving Loans Converted to Term Loans 67,968 23,032  
Total 18,650,755 17,397,158  
Gross write-offs Total 44,996 125,413 36,573
Commercial Lending | C&I | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 3,013,368 2,605,928  
Year 2 1,717,361 1,508,948  
Year 3 880,267 999,586  
Year 4 536,461 612,015  
Year 5 391,413 243,528  
Prior 302,893 295,884  
Revolving Loans 11,308,551 10,574,404  
Revolving Loans Converted to Term Loans 67,968 23,032  
Total 18,218,282 16,863,325  
Commercial Lending | C&I | Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 572 34,412  
Year 2 35,223 51,415  
Year 3 1,662 61,041  
Year 4 93,562 107,355  
Year 5 83,813 10,538  
Prior 6,771 31,160  
Revolving Loans 158,626 151,747  
Revolving Loans Converted to Term Loans 0 0  
Total 380,229 447,668  
Commercial Lending | C&I | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,922 3,822  
Year 2 4,733 29,181  
Year 3 26,810 20,273  
Year 4 1,640 10,666  
Year 5 9,525 3,225  
Prior 6,526 9,135  
Revolving Loans 88 9,863  
Revolving Loans Converted to Term Loans 0 0  
Total 52,244 86,165  
Commercial Lending | C&I | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 2,617 20  
Gross write-offs year 2 1,199 47,963  
Gross write-offs year 3 28,752 14,848  
Gross write-offs year 4 4,643 11,119  
Gross write-offs year 5 1,063 1,568  
Gross write-offs year Prior 3,170 3,012  
Gross write-offs year Revolving Loans 24 27,099  
Gross write-offs Revolving Loans Converted to Term Loans 0 0  
Gross write-offs Total 41,468 105,629  
Commercial Lending | CRE      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,649,381 1,695,420  
Year 2 1,592,227 2,341,320  
Year 3 2,136,467 3,782,603  
Year 4 3,329,820 1,956,835  
Year 5 1,769,826 1,373,773  
Prior 3,803,143 3,344,525  
Revolving Loans 78,712 96,791  
Revolving Loans Converted to Term Loans 47,512 64,073  
Total 15,407,088 14,655,340  
Gross write-offs Total 24,237 14,236 7,048
Commercial Lending | CRE | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 2,615,789 1,660,877  
Year 2 1,562,420 2,296,763  
Year 3 2,015,433 3,692,498  
Year 4 3,188,363 1,925,220  
Year 5 1,708,927 1,296,439  
Prior 3,607,918 3,176,450  
Revolving Loans 78,712 96,791  
Revolving Loans Converted to Term Loans 47,512 49,302  
Total 14,825,074 14,194,340  
Commercial Lending | CRE | Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 30,275 34,543  
Year 2 29,807 44,557  
Year 3 116,862 90,105  
Year 4 134,018 31,615  
Year 5 48,569 75,578  
Prior 183,937 167,401  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 14,771  
Total 543,468 458,570  
Commercial Lending | CRE | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 3,317 0  
Year 2 0 0  
Year 3 4,172 0  
Year 4 7,439 0  
Year 5 12,330 1,756  
Prior 11,288 674  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 38,546 2,430  
Commercial Lending | CRE | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 8,932 0  
Gross write-offs year 2 0 0  
Gross write-offs year 3 0 0  
Gross write-offs year 4 160 0  
Gross write-offs year 5 19 0  
Gross write-offs year Prior 15,126 3  
Gross write-offs year Revolving Loans 0 0  
Gross write-offs Revolving Loans Converted to Term Loans 0 0  
Gross write-offs Total 24,237 3  
Commercial Lending | Multifamily Residential      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 895,323 386,743  
Year 2 338,209 521,754  
Year 3 478,782 1,381,596  
Year 4 1,143,868 784,272  
Year 5 663,916 613,115  
Prior 1,556,203 1,250,069  
Revolving Loans 32,207 14,640  
Revolving Loans Converted to Term Loans 3,820 1,253  
Total 5,112,328 4,953,442  
Gross write-offs Total 8 10 3
Commercial Lending | Multifamily Residential | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 895,323 386,743  
Year 2 338,209 521,754  
Year 3 478,782 1,337,599  
Year 4 1,138,693 752,230  
Year 5 663,916 613,115  
Prior 1,547,124 1,242,586  
Revolving Loans 32,207 14,640  
Revolving Loans Converted to Term Loans 3,820 1,253  
Total 5,098,074 4,869,920  
Commercial Lending | Multifamily Residential | Criticized (accrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 0 0  
Year 2 0 0  
Year 3 0 43,997  
Year 4 5,175 32,042  
Year 5 0 0  
Prior 8,787 2,911  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 13,962 78,950  
Commercial Lending | Multifamily Residential | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 0 0  
Year 2 0 0  
Year 3 0 0  
Year 4 0 0  
Year 5 0 0  
Prior 292 4,572  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 292 4,572  
Commercial Lending | Multifamily Residential | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1 0 0  
Gross write-offs year 2 0 0  
Gross write-offs year 3 0 0  
Gross write-offs year 4 0 0  
Gross write-offs year 5 0 0  
Gross write-offs year Prior 8 10  
Gross write-offs year Revolving Loans 0 0  
Gross write-offs Revolving Loans Converted to Term Loans 0 0  
Gross write-offs Total 8 10  
Commercial Lending | Construction and land      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 246,380 90,926  
Year 2 118,696 328,803  
Year 3 247,482 196,108  
Year 4 108,999 41,932  
Year 5 13,437 0  
Prior 3,462 8,393  
Revolving Loans 3,901 0  
Revolving Loans Converted to Term Loans 0 0  
Total 742,357 666,162  
Gross write-offs Total 1,996 2,289 $ 10,413
Commercial Lending | Construction and land | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 246,380 90,926  
Year 2 109,799 328,803  
Year 3 247,482 184,792  
Year 4 90,086 41,932  
Year 5 13,437 0  
Prior 3,462 8,393  
Revolving Loans 3,901 0  
Revolving Loans Converted to Term Loans 0 0  
Total 714,547 654,846  
Commercial Lending | Construction and land | Criticized (nonaccrual)      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 0 0  
Year 2 8,897 0  
Year 3 0 11,316  
Year 4 18,913 0  
Year 5 0 0  
Prior 0 0  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 27,810 11,316  
Commercial Lending | Construction and land | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1   0  
Gross write-offs year 2   0  
Gross write-offs year 3   2,289  
Gross write-offs year 4   0  
Gross write-offs year 5   0  
Gross write-offs year Prior   0  
Gross write-offs year Revolving Loans   0  
Gross write-offs Revolving Loans Converted to Term Loans   0  
Gross write-offs Total   2,289  
Commercial Lending | Total CRE      
Financing Receivable, Credit Quality Indicator [Line Items]      
Year 1 3,791,084 2,173,089  
Year 2 2,049,132 3,191,877  
Year 3 2,862,731 5,360,307  
Year 4 4,582,687 2,783,039  
Year 5 2,447,179 1,986,888  
Prior 5,362,808 4,602,987  
Revolving Loans 114,820 111,431  
Revolving Loans Converted to Term Loans 51,332 65,326  
Total 21,261,773 20,274,944  
Gross write-offs year 1 8,932    
Gross write-offs year 2 0    
Gross write-offs year 3 0    
Gross write-offs year 4 160    
Gross write-offs year 5 19    
Gross write-offs year Prior 15,134    
Gross write-offs year Revolving Loans 0    
Gross write-offs Revolving Loans Converted to Term Loans 0    
Gross write-offs Total $ 24,245    
Commercial Lending | Total CRE | Gross write-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
Gross write-offs year 1   0  
Gross write-offs year 2   0  
Gross write-offs year 3   2,289  
Gross write-offs year 4   0  
Gross write-offs year 5   0  
Gross write-offs year Prior   13  
Gross write-offs year Revolving Loans   0  
Gross write-offs Revolving Loans Converted to Term Loans   0  
Gross write-offs Total   $ 2,302  
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Aging Analysis Of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Nonaccrual and Past Due Loans    
Loans held-for-investment $ 56,878,172 $ 53,726,637
Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 56,562,628 53,462,858
Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 149,702 104,761
Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 107,134 55,354
Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 42,568 49,407
Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 165,842 159,018
Commercial Lending    
Nonaccrual and Past Due Loans    
Loans held-for-investment 39,912,528 37,672,102
Commercial Lending | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 39,752,345 37,537,266
Commercial Lending | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 41,291 30,353
Commercial Lending | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 37,740 11,025
Commercial Lending | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 3,551 19,328
Commercial Lending | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 118,892 104,483
Commercial Lending | C&I    
Nonaccrual and Past Due Loans    
Loans held-for-investment 18,650,755 17,397,158
Commercial Lending | C&I | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 18,572,467 17,288,138
Commercial Lending | C&I | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 26,044 22,855
Commercial Lending | C&I | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 25,962 5,690
Commercial Lending | C&I | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 82 17,165
Commercial Lending | C&I | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 52,244 86,165
Commercial Lending | CRE    
Nonaccrual and Past Due Loans    
Loans held-for-investment 15,407,088 14,655,340
Commercial Lending | CRE | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 15,354,548 14,647,270
Commercial Lending | CRE | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 13,994 5,640
Commercial Lending | CRE | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 10,525 3,755
Commercial Lending | CRE | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 3,469 1,885
Commercial Lending | CRE | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 38,546 2,430
Commercial Lending | Multifamily Residential    
Nonaccrual and Past Due Loans    
Loans held-for-investment 5,112,328 4,953,442
Commercial Lending | Multifamily Residential | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 5,110,783 4,947,939
Commercial Lending | Multifamily Residential | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 1,253 931
Commercial Lending | Multifamily Residential | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 1,253 653
Commercial Lending | Multifamily Residential | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 0 278
Commercial Lending | Multifamily Residential | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 292 4,572
Commercial Lending | Construction and land    
Nonaccrual and Past Due Loans    
Loans held-for-investment 742,357 666,162
Commercial Lending | Construction and land | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 714,547 653,919
Commercial Lending | Construction and land | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 0 927
Commercial Lending | Construction and land | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 0 927
Commercial Lending | Construction and land | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 0 0
Commercial Lending | Construction and land | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 27,810 11,316
Commercial Lending | Total CRE    
Nonaccrual and Past Due Loans    
Loans held-for-investment 21,261,773 20,274,944
Commercial Lending | Total CRE | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 21,179,878 20,249,128
Commercial Lending | Total CRE | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 15,247 7,498
Commercial Lending | Total CRE | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 11,778 5,335
Commercial Lending | Total CRE | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 3,469 2,163
Commercial Lending | Total CRE | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 66,648 18,318
Consumer Lending    
Nonaccrual and Past Due Loans    
Loans held-for-investment 16,965,644 16,054,535
Consumer Lending | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 16,810,283 15,925,592
Consumer Lending | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 108,411 74,408
Consumer Lending | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 69,394 44,329
Consumer Lending | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 39,017 30,079
Consumer Lending | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 46,950 54,535
Consumer Lending | Single-Family Residential    
Nonaccrual and Past Due Loans    
Loans held-for-investment 15,002,549 14,175,446
Consumer Lending | Single-Family Residential | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 14,899,224 14,088,086
Consumer Lending | Single-Family Residential | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 73,684 54,937
Consumer Lending | Single-Family Residential | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 46,010 32,841
Consumer Lending | Single-Family Residential | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 27,674 22,096
Consumer Lending | Single-Family Residential | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 29,641 32,423
Consumer Lending | HELOCs    
Nonaccrual and Past Due Loans    
Loans held-for-investment 1,911,897 1,811,628
Consumer Lending | HELOCs | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 1,860,080 1,770,218
Consumer Lending | HELOCs | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 34,650 19,364
Consumer Lending | HELOCs | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 23,328 11,396
Consumer Lending | HELOCs | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 11,322 7,968
Consumer Lending | HELOCs | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 17,167 22,046
Consumer Lending | Total residential mortgage    
Nonaccrual and Past Due Loans    
Loans held-for-investment 16,914,446 15,987,074
Consumer Lending | Total residential mortgage | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 16,759,304 15,858,304
Consumer Lending | Total residential mortgage | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 108,334 74,301
Consumer Lending | Total residential mortgage | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 69,338 44,237
Consumer Lending | Total residential mortgage | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 38,996 30,064
Consumer Lending | Total residential mortgage | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 46,808 54,469
Consumer Lending | Other consumer    
Nonaccrual and Past Due Loans    
Loans held-for-investment 51,198 67,461
Consumer Lending | Other consumer | Current Accruing Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 50,979 67,288
Consumer Lending | Other consumer | Total Accruing Past Due Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment 77 107
Consumer Lending | Other consumer | Accruing Loans 30-59 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 56 92
Consumer Lending | Other consumer | Accruing Loans 60-89 Days Past Due    
Nonaccrual and Past Due Loans    
Loans held-for-investment 21 15
Consumer Lending | Other consumer | Total Nonaccrual Loans    
Nonaccrual and Past Due Loans    
Loans held-for-investment $ 142 $ 66
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Amortized Cost Of Loans On Nonaccrual Status With No Related Allowance For Loan Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL $ 93,414 $ 116,776
Commercial Lending    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 83,238 95,117
Commercial Lending | C&I    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 21,723 79,591
Commercial Lending | CRE    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 33,705 0
Commercial Lending | Multifamily Residential    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 0 4,210
Commercial Lending | Construction and land    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 27,810 11,316
Consumer Lending    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 10,176 21,659
Consumer Lending | Single-Family Residential    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL 6,095 6,279
Consumer Lending | HELOCs    
Financing Receivable, Nonaccrual [Line Items]    
Total nonaccrual loans with no related ALLL $ 4,081 $ 15,380
v3.25.4
Loans Receivable and Allowance for Credit Losses - Loans Receivable Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES    
Foreclosed assets $ 21 $ 35
Residential real estate properties    
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES    
Recorded investment in consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process $ 16 $ 16
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Modified Loans/TDRs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans Modified      
Total $ 414,359 $ 206,411 $ 135,257
Modification as a % of Loan Class 0.73% 0.38% 0.26%
Interest Rate Reduction      
Loans Modified      
Total $ 6,057    
Term Extension      
Loans Modified      
Total 254,051 $ 143,360 $ 76,643
Payment Delay      
Loans Modified      
Total 96,332 56,120 20,192
Term Extension/ Payment Delay      
Loans Modified      
Total 36,761 222 5,137
Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 407    
Rate Reduction/ Term Extension      
Loans Modified      
Total   6,052 32,470
Rate Reduction/ Payment Delay      
Loans Modified      
Total 20,751 657 815
Commercial Lending      
Loans Modified      
Total $ 365,041 $ 175,832 $ 115,955
Modification as a % of Loan Class 0.91% 0.47% 0.31%
Commercial Lending | Interest Rate Reduction      
Loans Modified      
Total $ 6,057    
Commercial Lending | Term Extension      
Loans Modified      
Total 254,051 $ 143,360 $ 76,643
Commercial Lending | Payment Delay      
Loans Modified      
Total 51,904 26,420 6,842
Commercial Lending | Term Extension/ Payment Delay      
Loans Modified      
Total 33,450 0 0
Commercial Lending | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Rate Reduction/ Term Extension      
Loans Modified      
Total   6,052 32,470
Commercial Lending | Rate Reduction/ Payment Delay      
Loans Modified      
Total 19,579 0 0
Commercial Lending | C&I      
Loans Modified      
Total $ 188,029 $ 83,522 $ 69,546
Modification as a % of Loan Class 1.01% 0.48% 0.42%
Commercial Lending | C&I | Interest Rate Reduction      
Loans Modified      
Total $ 6,057    
Commercial Lending | C&I | Term Extension      
Loans Modified      
Total 77,039 $ 57,102 $ 62,704
Commercial Lending | C&I | Payment Delay      
Loans Modified      
Total 51,904 26,420 6,842
Commercial Lending | C&I | Term Extension/ Payment Delay      
Loans Modified      
Total 33,450 0 0
Commercial Lending | C&I | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | C&I | Rate Reduction/ Term Extension      
Loans Modified      
Total   0 0
Commercial Lending | C&I | Rate Reduction/ Payment Delay      
Loans Modified      
Total 19,579 0 0
Commercial Lending | CRE      
Loans Modified      
Total $ 167,286 $ 92,310 $ 46,409
Modification as a % of Loan Class 1.09% 0.63% 0.31%
Commercial Lending | CRE | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Commercial Lending | CRE | Term Extension      
Loans Modified      
Total 167,286 $ 86,258 $ 13,939
Commercial Lending | CRE | Payment Delay      
Loans Modified      
Total 0 0 0
Commercial Lending | CRE | Term Extension/ Payment Delay      
Loans Modified      
Total 0 0 0
Commercial Lending | CRE | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | CRE | Rate Reduction/ Term Extension      
Loans Modified      
Total   6,052 32,470
Commercial Lending | CRE | Rate Reduction/ Payment Delay      
Loans Modified      
Total 0 0 0
Commercial Lending | Multifamily      
Loans Modified      
Total $ 275    
Modification as a % of Loan Class 0.01%    
Commercial Lending | Multifamily | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Commercial Lending | Multifamily | Term Extension      
Loans Modified      
Total 275    
Commercial Lending | Multifamily | Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Multifamily | Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Multifamily | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Multifamily | Rate Reduction/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Land and construction      
Loans Modified      
Total $ 9,451    
Modification as a % of Loan Class 1.27%    
Commercial Lending | Land and construction | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Commercial Lending | Land and construction | Term Extension      
Loans Modified      
Total 9,451    
Commercial Lending | Land and construction | Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Land and construction | Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Land and construction | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Commercial Lending | Land and construction | Rate Reduction/ Payment Delay      
Loans Modified      
Total 0    
Consumer Lending      
Loans Modified      
Total $ 49,318 $ 30,579 $ 19,302
Modification as a % of Loan Class 0.29% 0.19% 0.13%
Consumer Lending | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Consumer Lending | Term Extension      
Loans Modified      
Total 0 $ 0 $ 0
Consumer Lending | Payment Delay      
Loans Modified      
Total 44,428 29,700 13,350
Consumer Lending | Term Extension/ Payment Delay      
Loans Modified      
Total 3,311 222 5,137
Consumer Lending | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 407    
Consumer Lending | Rate Reduction/ Term Extension      
Loans Modified      
Total   0 0
Consumer Lending | Rate Reduction/ Payment Delay      
Loans Modified      
Total 1,172 657 815
Consumer Lending | Single-Family Residential      
Loans Modified      
Total $ 31,947 $ 15,759 $ 14,169
Modification as a % of Loan Class 0.21% 0.11% 0.11%
Consumer Lending | Single-Family Residential | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Consumer Lending | Single-Family Residential | Term Extension      
Loans Modified      
Total 0 $ 0 $ 0
Consumer Lending | Single-Family Residential | Payment Delay      
Loans Modified      
Total 29,545 15,397 10,202
Consumer Lending | Single-Family Residential | Term Extension/ Payment Delay      
Loans Modified      
Total 2,402 222 3,967
Consumer Lending | Single-Family Residential | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 0    
Consumer Lending | Single-Family Residential | Rate Reduction/ Term Extension      
Loans Modified      
Total   0 0
Consumer Lending | Single-Family Residential | Rate Reduction/ Payment Delay      
Loans Modified      
Total 0 140 0
Consumer Lending | HELOCs      
Loans Modified      
Total $ 17,371 $ 14,820 $ 5,133
Modification as a % of Loan Class 0.91% 0.82% 0.30%
Consumer Lending | HELOCs | Interest Rate Reduction      
Loans Modified      
Total $ 0    
Consumer Lending | HELOCs | Term Extension      
Loans Modified      
Total 0 $ 0 $ 0
Consumer Lending | HELOCs | Payment Delay      
Loans Modified      
Total 14,883 14,303 3,148
Consumer Lending | HELOCs | Term Extension/ Payment Delay      
Loans Modified      
Total 909 0 1,170
Consumer Lending | HELOCs | Rate Reduction /Term Extension/ Payment Delay      
Loans Modified      
Total 407    
Consumer Lending | HELOCs | Rate Reduction/ Term Extension      
Loans Modified      
Total   0 0
Consumer Lending | HELOCs | Rate Reduction/ Payment Delay      
Loans Modified      
Total $ 1,172 $ 517 $ 815
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Financial Effects of Loan Modifications (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Principal Forgiveness      
Loans Modified      
Principal Forgiveness     $ 371
Commercial Lending | C&I | Principal Forgiveness      
Loans Modified      
Principal Forgiveness     $ 371
Commercial Lending | C&I | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 3.38% 0.00% 0.00%
Commercial Lending | C&I | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 1 year 1 month 6 days 2 years 1 month 6 days 1 year 3 months 18 days
Commercial Lending | C&I | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 9 months 18 days 1 year 8 months 12 days 10 months 24 days
Commercial Lending | CRE | Principal Forgiveness      
Loans Modified      
Principal Forgiveness     $ 0
Commercial Lending | CRE | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 0.00% 1.28% 3.00%
Commercial Lending | CRE | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 3 years 2 months 12 days 2 years 8 months 12 days 2 years 1 month 6 days
Commercial Lending | CRE | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 0 years 0 years 0 years
Commercial Lending | Multifamily | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 0.00%    
Commercial Lending | Multifamily | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 10 years    
Commercial Lending | Multifamily | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 0 years    
Commercial Lending | Land and construction | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 0.00%    
Commercial Lending | Land and construction | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 9 months 18 days    
Commercial Lending | Land and construction | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 0 years    
Consumer Lending | Single-Family Residential | Principal Forgiveness      
Loans Modified      
Principal Forgiveness     $ 0
Consumer Lending | Single-Family Residential | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 0.00% 1.63% 0.00%
Consumer Lending | Single-Family Residential | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 15 years 10 years 9 years 3 months 18 days
Consumer Lending | Single-Family Residential | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 3 years 6 months 1 year 3 months 18 days 1 year 9 months 18 days
Consumer Lending | HELOCs | Principal Forgiveness      
Loans Modified      
Principal Forgiveness     $ 0
Consumer Lending | HELOCs | Weighted-Average Interest Rate Reduction      
Loans Modified      
Weighted-Average Interest Rate Reduction 0.97% 0.25% 0.11%
Consumer Lending | HELOCs | Weighted-Average Term Extension (in years)      
Loans Modified      
Weighted average of loans (in years) 15 years 3 months 18 days 0 years 14 years 2 months 12 days
Consumer Lending | HELOCs | Weighted-Average Payment Delay (in years)      
Loans Modified      
Weighted average of loans (in years) 4 years 9 months 18 days 1 year 8 months 12 days 4 years 7 months 6 days
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Loans Modification (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default $ 45,112 $ 26,654 $ 1,016
Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 30,197 3,684 0
Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 12,648 19,850 1,016
Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 746 658 0
Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 1,521 2,462 0
Commercial Lending      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 35,270 8,621  
Commercial Lending | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 30,197 3,684  
Commercial Lending | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 5,073 4,937  
Commercial Lending | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0  
Commercial Lending | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0  
Commercial Lending | C&I      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 5,279 8,621  
Commercial Lending | C&I | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 206 3,684  
Commercial Lending | C&I | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 5,073 4,937  
Commercial Lending | C&I | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0  
Commercial Lending | C&I | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0  
Commercial Lending | CRE      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 29,991    
Commercial Lending | CRE | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 29,991    
Commercial Lending | CRE | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0    
Commercial Lending | CRE | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0    
Commercial Lending | CRE | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0    
Consumer Lending      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 9,842 18,033 1,016
Consumer Lending | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0 0
Consumer Lending | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 7,575 14,913 1,016
Consumer Lending | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 746 658 0
Consumer Lending | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 1,521 2,462 0
Consumer Lending | Single-family residential      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 4,744 12,826 267
Consumer Lending | Single-family residential | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0 0
Consumer Lending | Single-family residential | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 3,706 10,223 267
Consumer Lending | Single-family residential | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 141 0
Consumer Lending | Single-family residential | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 1,038 2,462 0
Consumer Lending | HELOCs      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 5,098 5,207 749
Consumer Lending | HELOCs | Term Extension      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 0 0 0
Consumer Lending | HELOCs | Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 3,869 4,690 749
Consumer Lending | HELOCs | Rate Reduction/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default 746 517 0
Consumer Lending | HELOCs | Term Extension/ Payment Delay      
Financing Receivable, Modified [Line Items]      
Financing receivable, modified, subsequent default $ 483 $ 0 $ 0
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule of Financing Receivable, Modified, Payment Performance (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated $ 414,359 $ 206,411 $ 135,257
Total nonaccrual loans included above 16,778 14,970 19,578
Commitment to lend 14,000 10,000  
Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 400,406 181,307 113,900
Total nonaccrual loans included above 11,888 9,209 8,666
30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 9,269 19,485 10,755
Total nonaccrual loans included above 206 142 310
90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 4,684 5,619 10,602
Total nonaccrual loans included above 4,684 5,619 10,602
Commercial Lending      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 365,041 175,832 115,955
Commercial Lending | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 362,070 163,634 98,496
Commercial Lending | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 806 12,198 8,153
Commercial Lending | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 2,165 0 9,306
Commercial Lending | C&I      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 188,029 83,522 69,546
Commercial Lending | C&I | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 185,058 71,324 52,087
Commercial Lending | C&I | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 806 12,198 8,153
Commercial Lending | C&I | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 2,165 0 9,306
Commercial Lending | CRE      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 167,286 92,310 46,409
Commercial Lending | CRE | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 167,286 92,310 46,409
Commercial Lending | CRE | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0 0 0
Commercial Lending | CRE | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0 0 0
Commercial Lending | Multifamily Residential      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 275    
Commercial Lending | Multifamily Residential | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 275    
Commercial Lending | Multifamily Residential | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0    
Commercial Lending | Multifamily Residential | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0    
Commercial Lending | Construction and land      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 9,451    
Commercial Lending | Construction and land | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 9,451    
Commercial Lending | Construction and land | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0    
Commercial Lending | Construction and land | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 0    
Consumer Lending      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 49,318 30,579 19,302
Consumer Lending | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 38,336 17,673 15,404
Consumer Lending | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 8,463 7,287 2,602
Consumer Lending | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 2,519 5,619 1,296
Consumer Lending | Single-Family Residential      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 31,947 15,759 14,169
Consumer Lending | Single-Family Residential | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 25,119 9,082 11,197
Consumer Lending | Single-Family Residential | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 5,577 4,218 2,425
Consumer Lending | Single-Family Residential | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 1,251 2,459 547
Consumer Lending | HELOCs      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 17,371 14,820 5,133
Consumer Lending | HELOCs | Current Accruing Loans      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 13,217 8,591 4,207
Consumer Lending | HELOCs | 30-89 Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated 2,886 3,069 177
Consumer Lending | HELOCs | 90+ Days Past Due      
Financing Receivable, Allowance for Credit Losses      
Financing receivable, modified, accumulated $ 1,268 $ 3,160 $ 749
v3.25.4
Loans Receivable and Allowance for Credit Losses - Allowance for Credit Losses Narrative (Details)
$ in Millions
Dec. 31, 2025
USD ($)
quarter
Dec. 31, 2024
USD ($)
Financing Receivable, Allowance for Credit Losses    
Life time loss rate, period span | quarter 8  
Financing receivable and off balance sheet credit loss allowance $ 858 $ 742
Commercial Lending    
Financing Receivable, Allowance for Credit Losses    
Collateral dependent loans 69 45
Consumer Lending    
Financing Receivable, Allowance for Credit Losses    
Collateral dependent loans $ 10 $ 23
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule of Activity in the Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Allowance for loan losses      
ALLL, beginning of period $ 702,052 $ 668,743 $ 595,645
ALLL recognized on PCD loans 18,175    
Provision for (reversal of) credit losses on loans 148,932 172,176 113,571
Gross charge-offs (71,452) (146,257) (54,372)
Gross recoveries 11,613 7,639 8,118
Total net (charge-offs) recoveries (59,839) (138,618) (46,254)
Foreign currency translation adjustments 453 (249) (247)
ALLL, end of period 809,773 702,052 668,743
Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     6,028
Commercial Lending | C&I      
Allowance for loan losses      
ALLL, beginning of period 384,319 392,685 371,700
ALLL recognized on PCD loans 18,175    
Provision for (reversal of) credit losses on loans 106,941 110,791 45,319
Gross charge-offs (44,996) (125,413) (36,573)
Gross recoveries 10,721 6,505 6,803
Total net (charge-offs) recoveries (34,275) (118,908) (29,770)
Foreign currency translation adjustments 453 (249) (247)
ALLL, end of period 475,613 384,319 392,685
Commercial Lending | C&I | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     5,683
Commercial Lending | CRE      
Allowance for loan losses      
ALLL, beginning of period 218,677 170,592 149,864
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans 26,825 61,908 27,007
Gross charge-offs (24,237) (14,236) (7,048)
Gross recoveries 229 413 432
Total net (charge-offs) recoveries (24,008) (13,823) (6,616)
Foreign currency translation adjustments 0 0 0
ALLL, end of period 221,494 218,677 170,592
Commercial Lending | CRE | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     337
Commercial Lending | Multifamily Residential      
Allowance for loan losses      
ALLL, beginning of period 32,117 34,375 23,373
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans 4,386 (2,684) 10,454
Gross charge-offs (8) (10) (3)
Gross recoveries 60 436 545
Total net (charge-offs) recoveries 52 426 542
Foreign currency translation adjustments 0 0 0
ALLL, end of period 36,555 32,117 34,375
Commercial Lending | Multifamily Residential | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     6
Commercial Lending | Construction and land      
Allowance for loan losses      
ALLL, beginning of period 17,497 10,469 9,109
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans (45) 9,114 11,537
Gross charge-offs (1,996) (2,289) (10,413)
Gross recoveries 12 203 236
Total net (charge-offs) recoveries (1,984) (2,086) (10,177)
Foreign currency translation adjustments 0 0 0
ALLL, end of period 15,468 17,497 10,469
Commercial Lending | Construction and land | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     0
Consumer Lending | Single-Family Residential      
Allowance for loan losses      
ALLL, beginning of period 44,816 55,018 35,564
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans 8,398 (10,176) 19,384
Gross charge-offs (57) (35) 0
Gross recoveries 306 9 69
Total net (charge-offs) recoveries 249 (26) 69
Foreign currency translation adjustments 0 0 0
ALLL, end of period 53,463 44,816 55,018
Consumer Lending | Single-Family Residential | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     1
Consumer Lending | HELOCs      
Allowance for loan losses      
ALLL, beginning of period 3,132 3,947 4,475
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans 2,656 (873) (424)
Gross charge-offs (6) (15) (138)
Gross recoveries 22 73 33
Total net (charge-offs) recoveries 16 58 (105)
Foreign currency translation adjustments 0 0 0
ALLL, end of period 5,804 3,132 3,947
Consumer Lending | HELOCs | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     1
Consumer Lending | Other consumer      
Allowance for loan losses      
ALLL, beginning of period 1,494 1,657 1,560
ALLL recognized on PCD loans 0    
Provision for (reversal of) credit losses on loans (229) 4,096 294
Gross charge-offs (152) (4,259) (197)
Gross recoveries 263 0 0
Total net (charge-offs) recoveries 111 (4,259) (197)
Foreign currency translation adjustments 0 0 0
ALLL, end of period $ 1,376 $ 1,494 1,657
Consumer Lending | Other consumer | Accounting Standards Update 2022-02 | Cumulative Effect, Period of Adoption, Adjustment      
Allowance for loan losses      
ALLL, beginning of period     $ 0
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule of Activities in Allowance for loan losses by Portfolio Segments and Unfunded Credit Commitments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Allowance for unfunded credit reserves      
Allowance for unfunded credit commitments, beginning of period $ 39,000    
Foreign currency translation adjustments 453 $ (249) $ (247)
Allowance for unfunded credit commitments, end of period 49,000 39,000  
Provision for credit losses on loans, leases and unfunded credit commitments 160,000 174,000 125,000
Unfunded Credit Commitments      
Allowance for unfunded credit reserves      
Allowance for unfunded credit commitments, beginning of period 39,526 37,699 26,264
Provision for credit losses on unfunded credit commitments 9,168 1,824 11,429
Foreign currency translation adjustments (4) 3 6
Allowance for unfunded credit commitments, end of period 48,690 39,526 37,699
Loans, Leases And Unfunded Credit Commitments      
Allowance for unfunded credit reserves      
Provision for credit losses on loans, leases and unfunded credit commitments $ 158,100 $ 174,000 $ 125,000
v3.25.4
Loans Receivable and Allowance for Credit Losses - Schedule Of Carrying Value Of Loans Transferred, Loans Sold and Purchased For the Held-For-Investment Portfolio (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans Receivable and Allowance for Credit Losses      
Loans transferred from held-for-investment to held-for-sale $ 331,227 $ 659,322 $ 739,379
Sales 316,468 663,388 769,822
Purchases 965,704 999,993 599,775
Write-offs of allowance for loan losses related to loans transferred to held-for-sale 2,000 2,000 5,000
Originated      
Loans Receivable and Allowance for Credit Losses      
Sales 219,000 508,000 513,000
Loans sold in secondary market | Purchased      
Loans Receivable and Allowance for Credit Losses      
Sales 97,000 156,000 256,000
Commercial Lending | C&I      
Loans Receivable and Allowance for Credit Losses      
Loans transferred from held-for-investment to held-for-sale 282,252 649,187 647,943
Sales 264,445 650,256 674,919
Purchases 450,314 612,364 106,493
Commercial Lending | CRE      
Loans Receivable and Allowance for Credit Losses      
Loans transferred from held-for-investment to held-for-sale 39,475 9,417 83,282
Sales 39,475 9,417 86,749
Purchases 0 0 0
Commercial Lending | Construction and Land      
Loans Receivable and Allowance for Credit Losses      
Loans transferred from held-for-investment to held-for-sale 9,500 718 8,154
Sales 11,316 718 8,154
Purchases 0 0 0
Consumer Lending | Single-Family Residential      
Loans Receivable and Allowance for Credit Losses      
Loans transferred from held-for-investment to held-for-sale 0 0 0
Sales 1,232 2,997 0
Purchases $ 515,390 $ 387,629 $ 493,282
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Investments in Tax Credit and Other Investments, Net [Line Items]    
Minimum compliance period for qualified affordable housing partnerships to fully utilize the tax credits (in years) 15 years  
Other Assets    
Investments in Tax Credit and Other Investments, Net [Line Items]    
Equity securities without readily determinable fair value $ 117 $ 118
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net - Schedule of Affordable Housing, Tax Credit and CRA Investments, Net and Related Unfunded Commitments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Tax credits and CRA investments $ 345,748 $ 265,994
Total affordable housing partnership, tax credit and CRA investments, net 969,492 926,640
Liabilities - Unfunded Commitments    
Tax credits and CRA investments 121,275 105,743
Equity method of accounting and other: 337,496 407,864
Affordable housing partnership investments    
Assets    
PAM - Affordable housing partnership investments $ 483,021 $ 500,217
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Affordable housing partnership, tax credit and CRA investments, net Affordable housing partnership, tax credit and CRA investments, net
Liabilities - Unfunded Commitments    
PAM - Affordable housing partnership investments $ 172,343 $ 280,919
Tax credit and CRA investments    
Assets    
PAM - Affordable housing partnership investments $ 140,723 $ 160,429
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Affordable housing partnership, tax credit and CRA investments, net Affordable housing partnership, tax credit and CRA investments, net
Equity securities without readily determinable fair value $ 37,000 $ 29,000
Liabilities - Unfunded Commitments    
PAM - Affordable housing partnership investments $ 43,878 $ 21,202
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net - Schedule of Additional Information related to the Affordable Housing, Tax Credit and CRA Investments, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity method of accounting and other:      
Tax credit and CRA investments $ 119,098 $ 64,720 $ 124,433
Total tax credits and benefits 318,218 245,315 185,372
Equity method of accounting and other:      
Tax credit and CRA Investments 74,795 54,242 120,299
Total amortization $ 223,756 190,468 163,340
Investment Program Proportional Amortization Method Elected Income Tax Credit And Other Income Tax Benefit Before Amortization Statement Of Cash Flows Extensible Enumeration Not Disclosed Flag Tax credit and CRA investments    
Investment Program Proportional Amortization Method Applied Income Tax Credit And Other Tax Benefit Amortization Statement Of Cash Flows Extensible Enumeration Not Disclosed Flag Tax credit and CRA investments (4)    
Historic Tax Credit Investment      
Equity method of accounting and other:      
Pre-tax impairment (charge) recovery   (1,000) 1,000
Affordable housing partnership investments      
PAM:      
PAM - Affordable housing partnership investments $ 87,214 70,335 60,939
Amortization:      
PAM - Affordable housing partnership investments $ 60,078 $ 46,113 $ 43,041
Equity method of accounting and other:      
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax expense Income tax expense Income tax expense
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax expense Income tax expense Income tax expense
Tax credit and CRA investments      
PAM:      
PAM - Affordable housing partnership investments $ 111,906 $ 110,260 $ 0
Amortization:      
PAM - Affordable housing partnership investments $ 88,883 $ 90,113 $ 0
v3.25.4
Affordable Housing Partnership, Tax Credit and Community Reinvestment Act Investments, Net - Schedule of Unfunded Commitments Related to Investments (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Unfunded commitments related to investments in qualified affordable housing partnerships, tax credit and other investments  
2026 $ 279,856
2027 43,982
2028 6,034
2029 1,440
2030 1,931
Thereafter 4,253
Total $ 337,496
v3.25.4
Goodwill (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill $ 465,697,000 $ 465,697,000
Goodwill, impairment loss 0  
Equity method investments 108,000,000  
Equity method investment, difference between carrying amount and underlying equity $ 101,000,000  
v3.25.4
Deposits - Schedule of Balances for Core Deposits and Time Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deposits    
Noninterest-bearing demand $ 16,697,099 $ 15,450,428
Interest-bearing checking 7,989,255 7,940,692
Money market 15,439,729 14,816,511
Time deposits 25,284,814  
Total deposits 67,082,701 63,175,023
Time deposits, at or above FDIC insurance limit 18,300,000 16,500,000
Domestic office    
Deposits    
Savings: 1,503,006 1,583,657
Time deposits 22,694,862 21,128,657
Foreign office    
Deposits    
Savings: 168,798 167,963
Time deposits $ 2,589,952 $ 2,087,115
v3.25.4
Deposits - Scheduled Maturities of Time Deposits (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Deposit Accounts [Abstract]  
2026 $ 24,796,653
2027 415,251
2028 68,605
2029 2,908
2030 1,397
Time deposits $ 25,284,814
v3.25.4
Federal Home Loan Bank Advances and Long-Term Debt - Schedule of Debt (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Short-Term Debt [Line Items]    
Total FHLB advances $ 3,000,000 $ 3,500,000
Weighted-average contractual interest rates for FHLB advances 3.94%  
Floating    
Short-Term Debt [Line Items]    
Total FHLB advances $ 2,000,000 3,000,000
Fixed    
Short-Term Debt [Line Items]    
Total FHLB advances $ 750,000 500,000
Overnight    
Short-Term Debt [Line Items]    
Interest Rate 4.02%  
Total FHLB advances $ 250,000 $ 0
Minimum | Floating    
Short-Term Debt [Line Items]    
Interest Rate 3.87%  
Minimum | Fixed    
Short-Term Debt [Line Items]    
Interest Rate 3.87%  
Maximum | Floating    
Short-Term Debt [Line Items]    
Interest Rate 3.96%  
Maximum | Fixed    
Short-Term Debt [Line Items]    
Interest Rate 4.01%  
Junior subordinated debt    
Short-Term Debt [Line Items]    
Long-term debt total $ 35,000  
Junior subordinated debt | MCBI Statutory Trust I    
Short-Term Debt [Line Items]    
Debt instrument, basis spread on variable rate 1.81%  
Parent company | Junior subordinated debt    
Short-Term Debt [Line Items]    
Weighted-average rate (as a percent) 5.53% 6.17%
Long-term debt total $ 32,320 $ 32,001
v3.25.4
Federal Home Loan Bank Advances and Long-Term Debt - Narrative (Details)
$ in Millions
Dec. 31, 2025
USD ($)
trust
Debt Instrument [Line Items]  
FHLB advances borrowing capacity $ 11,800
Junior subordinated debt  
Debt Instrument [Line Items]  
Number of statutory business trusts formed for the purpose of issuing junior subordinated debt to third party investors | trust 1
Junior subordinated debenture owed to unconsolidated subsidiary trust $ 35
Trust preferred securities $ 1
v3.25.4
Income Taxes - Schedule of Components of Income Before Income Taxes and Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income before income taxes:      
U.S. $ 1,686,561 $ 1,429,104 $ 1,425,756
Foreign 38,899 52,757 34,014
INCOME BEFORE INCOME TAXES 1,725,460 1,481,861 1,459,770
Current income tax expense:      
Federal 250,521 166,268 172,428
State 149,291 153,891 173,080
Foreign 8,235 10,399 2,240
Total current income tax expense 408,047 330,558 347,748
Deferred income tax (benefit) expense:      
Federal (20,242) (6,467) (24,319)
State 12,897 (5,582) (23,415)
Foreign (430) (2,234) (1,405)
Total deferred income tax benefit (7,775) (14,283) (49,139)
Total income tax expense:      
Federal 230,279 159,801 148,109
State 162,188 148,309 149,665
Foreign 7,805 8,165 835
Income tax expense $ 400,272 $ 316,275 $ 298,609
v3.25.4
Income Taxes - Schedule of Reconciliation of Federal Statutory Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Statutory U.S. federal tax rate $ 362,347 $ 311,191 $ 306,552
Tax credits      
Tax credits and benefits under the PAM, net of amortization (29,268) (26,147) (4,299)
Energy tax credit — solar (42,406) (52,722) (70,364)
Energy tax credit — energy storage (34,408) (11,143) 0
New markets tax credit 0 0 (21,378)
Other tax credits (23,802) (18,906) (34,076)
Changes in valuation allowance 13,353 0 0
Nontaxable or nondeductible items      
Nondeductible FDIC insurance premiums 8,474 7,719 7,007
Other nontaxable or nondeductible items 4,899   217
Other nontaxable or nondeductible items   (15,041)  
Other, net 7,549 (3,879) (4,544)
U.S. state and local income taxes, net of U.S. federal income tax effect 125,638 116,091 118,236
Foreign tax effects 7,805 8,165 835
Changes in unrecognized tax benefits 91 947 423
Income tax expense $ 400,272 $ 316,275 $ 298,609
Percent      
Statutory U.S. federal tax rate 21.00% 21.00% 21.00%
Tax credits      
Tax credits and benefits under the PAM, net of amortization (1.70%) (1.80%) (0.30%)
Energy tax credit — solar (2.50%) (3.50%) (4.80%)
Energy tax credit — energy storage (2.00%) (0.70%) 0.00%
New markets tax credit 0.00% 0.00% (1.50%)
Other tax credits (1.40%) (1.30%) (2.30%)
Changes in valuation allowance 0.80% 0.00% 0.00%
Nontaxable or nondeductible items      
Nondeductible FDIC insurance premiums 0.50% 0.50% 0.50%
Other nontaxable or nondeductible items 0.30%   0.00%
Other nontaxable or nondeductible items   (1.00%)  
Other, net 0.40% (0.30%) (0.30%)
U.S. state income taxes, net of U.S. federal income tax effect 7.30% 7.80% 8.10%
Foreign tax effects 0.50% 0.50% 0.10%
Changes in unrecognized tax benefits 0.00% 0.10% 0.00%
Effective tax rate 23.20% 21.30% 20.50%
v3.25.4
Income Taxes - Schedule of Income Taxes Paid (Net of Refunds Received) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Federal $ 65,981 $ 68,371 $ 140,000
State      
Foreign 13,120 6,186 0
Total 278,182 246,945 291,685
California      
State      
State 120,000 102,061 100,000
New York      
State      
State 67,001 59,049 36,732
Other states      
State      
State $ 12,080 $ 11,278 $ 14,953
v3.25.4
Income Taxes - Schedule of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Allowance for credit losses and nonperforming assets valuation allowance $ 251,494 $ 233,879
Net unrealized losses on AFS debt and transferred securities 142,141 223,814
Stock compensation and other accrued compensation 46,825 41,118
Lease liabilities 40,714 27,644
Tax credit and capital loss carryforwards 51,193 11,122
Basis difference in investments 16,430 17,708
Nonaccrual loans’ interest income 8,306 8,809
State taxes 6,548 5,808
FDIC special assessment charge 2,615 16,843
Other 13,435 14,665
Total deferred tax assets 579,701 601,410
Valuation allowance (13,353) 0
Total deferred tax assets, net of valuation allowance 566,348 601,410
Deferred tax liabilities:    
Operating lease right-of-use assets 37,225 25,647
Basis difference in investments 26,203 25,587
Net unrealized gains on derivative hedges 14,704 0
Equipment lease financing 7,206 10,395
Other 7,006 26,437
Total deferred tax liabilities 92,344 88,066
Net deferred tax assets $ 474,004 $ 513,344
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance [Line Items]      
Deferred tax assets, tax credit carryforwards $ 46,000    
Deferred tax assets, foreign tax credit carryforwards 13,000    
Valuation allowance 13,353 $ 0  
Net interest expense/penalties related to unrecognized tax benefits 1,000 1,000 $ 0
Interest and penalties accrued 232 $ 1,000  
State and Local Jurisdiction      
Valuation Allowance [Line Items]      
Deferred tax assets, capital loss carryforwards $ 5,000    
v3.25.4
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Activity related to unrecognized tax benefits      
Beginning balance $ 4,670 $ 1,193 $ 477
Additions for tax positions related to prior years 0 2,698 459
Deductions for tax positions related to prior years (446) 0 0
Additions for tax positions related to current year 547 779 257
Settlements with taxing authorities (2,019) 0 0
Ending balance $ 2,752 $ 4,670 $ 1,193
v3.25.4
Commitments and Contingencies - Schedule of Credit-Related Commitments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Commitments to Extend Credit    
Expire in One Year or Less $ 279,856  
Expire After Five Years 4,253  
Total 337,496  
Loan commitments    
Commitments to Extend Credit    
Expire in One Year or Less 4,927,242  
Expire After One Year Through Three Years 3,887,543  
Expire After Three Years Through Five Years 716,718  
Expire After Five Years 92,460  
Total 9,623,963 $ 9,128,040
Commercial letters of credit and SBLCs    
Commitments to Extend Credit    
Expire in One Year or Less 1,265,040  
Expire After One Year Through Three Years 560,517  
Expire After Three Years Through Five Years 153,113  
Expire After Five Years 977,620  
Total 2,956,290 2,917,029
Commitments to Extend Credit    
Commitments to Extend Credit    
Expire in One Year or Less 6,192,282  
Expire After One Year Through Three Years 4,448,060  
Expire After Three Years Through Five Years 869,831  
Expire After Five Years 1,070,080  
Total $ 12,580,253 $ 12,045,069
v3.25.4
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments to Extend Credit    
Letters of credit $ 3,000 $ 2,900
Allowance for unfunded credit commitments 49 39
Standby Letters of Credit    
Commitments to Extend Credit    
Letters of credit 2,900 2,900
Commercial Letters of Credit    
Commitments to Extend Credit    
Letters of credit $ 31 $ 29
v3.25.4
Commitments and Contingencies - Schedule of Guarantees Outstanding (Details) - Loans Sold or Securitized With Recourse - Loans Sold or Securitized with Recourse - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Guarantor obligation, maximum potential future payment [Abstract]    
Expire After One Year Through Three Years $ 139  
Expire After Three Years Through Five Years 363  
Expire After Five Years 17,631  
Total 18,133 $ 19,371
Carrying value 19,032 22,145
Single Family Residential    
Guarantor obligation, maximum potential future payment [Abstract]    
Expire After One Year Through Three Years 15  
Expire After Three Years Through Five Years 323  
Expire After Five Years 2,799  
Total 3,137 4,375
Carrying value 3,137 4,375
Multifamily residential    
Guarantor obligation, maximum potential future payment [Abstract]    
Expire After One Year Through Three Years 124  
Expire After Three Years Through Five Years 40  
Expire After Five Years 14,832  
Total 14,996 14,996
Carrying value $ 15,895 $ 17,770
v3.25.4
Stock Compensation Plans - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
RSUs | Cliff      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Performance-Based RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted-average fair value of awards granted (in dollars per share) $ 95.34 $ 80.28 $ 79.93
Total fair value of awards that vested $ 14,000,000 $ 12,000,000 $ 21,000,000
Total unrecognized stock compensation expense $ 5,000,000    
Weighted average period to recognize unrecognized compensation cost 1 year 9 months 18 days    
Performance-Based RSUs | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of target award available for grant 0.00%    
Performance-Based RSUs | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage of target award available for grant 200.00%    
Performance-Based RSUs | Cliff      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Time-Based RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted-average fair value of awards granted (in dollars per share) $ 95.20 $ 76.44 $ 73.13
Total fair value of awards that vested $ 34,000,000 $ 25,000,000 $ 39,000,000
Total unrecognized stock compensation expense $ 35,000,000    
Weighted average period to recognize unrecognized compensation cost 1 year 9 months 18 days    
Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available (in shares) 73,388    
Purchase price of shares in terms compared to market price per share (as a percent) 90.00%    
Annual purchase limitation per employee (in dollars per employee) $ 22,500    
Share-based Payment Arrangement, Expense $ 0    
Common stock, shares authorized (in shares) 2,000,000    
Shares sold to employees (in shares) 36,863 41,563  
Value of shares sold to employees under purchase plan $ 3,000,000 $ 3,000,000  
2021 Stock Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares outstanding other than RSUs (in shares) 0 0 0
Shares available (in shares) 3,000,000    
v3.25.4
Stock Compensation Plans - Schedule of Stock Compensation Expense and Related Net Tax (Deficiency) Benefit (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]      
Stock compensation costs $ 76,189 $ 45,535 $ 39,867
Related net tax benefits for stock compensation plans $ 3,041 $ 997 $ 8,959
v3.25.4
Stock Compensation Plans - Schedule of Activity for Time-Based and Performance-Based Restricted Stock Units (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Time-Based RSUs      
Shares      
Outstanding at beginning of year (in shares) 1,348,612    
Granted (in shares) 473,818    
Vested (in shares) (359,890)    
Forfeited (in shares) (110,516)    
Outstanding at end of year (in shares) 1,352,024 1,348,612  
Weighted-Average Grant Date Fair Value      
Outstanding at beginning of year (in dollars per share) $ 75.70    
Granted (in dollars per share) 95.20 $ 76.44 $ 73.13
Vested (in dollars per share) 78.17    
Forfeited (in dollars per share) 80.18    
Outstanding at end of year (in dollars per share) $ 81.51 $ 75.70  
Performance-Based RSUs      
Shares      
Outstanding at beginning of year (in shares) 282,061    
Granted (in shares) 88,660    
Vested (in shares) (87,992)    
Forfeited (in shares) 0    
Outstanding at end of year (in shares) 282,729 282,061  
Weighted-Average Grant Date Fair Value      
Outstanding at beginning of year (in dollars per share) $ 79.48    
Granted (in dollars per share) 95.34 $ 80.28 $ 79.93
Vested (in dollars per share) 81.35    
Forfeited (in dollars per share) 0    
Outstanding at end of year (in dollars per share) $ 83.87 $ 79.48  
v3.25.4
Stockholders' Equity and Earnings Per Share - Schedule of Earnings Per Share Calculations (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic:      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Basic weighted-average number of shares outstanding (in shares) 138,342 138,898 141,164
Basic EPS (in dollars per share) $ 9.58 $ 8.39 $ 8.23
Diluted:      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Less: Fair value changes of liability-classified equity contracts, net of tax (996) 0 0
Net income, diluted $ 1,324,192 $ 1,165,586 $ 1,161,161
Basic weighted-average number of shares outstanding (in shares) 138,342 138,898 141,164
Add: Dilutive impact of unvested RSUs and liability-classified equity contracts that are share-settled (in shares) 788 1,060 738
Diluted weighted-average number of shares outstanding (in shares) 139,130 139,958 141,902
Diluted EPS (in dollars per share) $ 9.52 $ 8.33 $ 8.18
Blended statutory tax rate 28.02%    
v3.25.4
Stockholders' Equity and Earnings Per Share - Narrative (Details) - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jan. 22, 2025
Stockholders' Equity and Earnings Per Share [Line Items]        
Stock repurchase program, amount authorized       $ 300
Repurchased of common stock, amount $ 115 $ 144    
RSUs        
Stockholders' Equity and Earnings Per Share [Line Items]        
Weighted-average anti-dilutive shares (in shares) 9 6 283  
v3.25.4
Accumulated Other Comprehensive (Loss) Income - Schedule Of The Changes In Components Of Accumulated Other Comprehensive Income (Loss) Balances (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 7,723,054 $ 6,950,834 $ 5,984,612
Net unrealized gains (losses) arising during the period 213,510 (38,127) 72,597
Amounts reclassified from AOCI 26,140 73,463 72,436
Other comprehensive income 239,650 35,336 145,033
Ending balance 8,899,202 7,723,054 6,950,834
Debt Securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (542,152) (601,881) (694,815)
Net unrealized gains (losses) arising during the period 177,668 50,302 76,930
Amounts reclassified from AOCI 11,252 9,427 16,004
Other comprehensive income 188,920 59,729 92,934
Ending balance (353,232) (542,152) (601,881)
Cash Flow Hedges      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (20,787) 2,624 (49,531)
Net unrealized gains (losses) arising during the period 34,108 (87,447) (4,277)
Amounts reclassified from AOCI 14,888 64,036 56,432
Other comprehensive income 48,996 (23,411) 52,155
Ending balance 28,209 (20,787) 2,624
Foreign Currency Translation Adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (22,321) (21,339) (21,283)
Net unrealized gains (losses) arising during the period 1,734 (982) (56)
Amounts reclassified from AOCI 0 0 0
Other comprehensive income 1,734 (982) (56)
Ending balance (20,587) (22,321) (21,339)
AOCI, Net of Tax      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (585,260) (620,596) (765,629)
Other comprehensive income 239,650 35,336 145,033
Ending balance $ (345,610) $ (585,260) $ (620,596)
v3.25.4
Accumulated Other Comprehensive (Loss) Income - Schedule Of Components Of Other Comprehensive Income (Loss), Reclassifications To Net Income And The Related Tax Effects (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Before-Tax      
Net change $ 338,957 $ 50,534 $ 206,712
Tax Effect      
Net change (99,307) (15,198) (61,679)
Net-of-Tax      
Amortization of unrealized losses on transferred securities 10,592 10,884 11,171
Net unrealized gains (losses) arising during the period 213,510 (38,127) 72,597
Net realized losses reclassified into net income 26,140 73,463 72,436
Other comprehensive income 239,650 35,336 145,033
Debt Securities      
Before-Tax      
Net unrealized gains on AFS debt securities arising during the period 252,366 71,259 109,216
Net realized losses (gains) on AFS debt securities reclassified into net income 937 (2,069) 6,862
Amortization of unrealized losses on transferred securities 15,038 15,452 15,860
Net change 268,341 84,642 131,938
Tax Effect      
Net unrealized gains on AFS debt securities arising during the period (74,698) (20,957) (32,286)
Net realized losses (gains) on AFS debt securities reclassified into net income (277) 612 (2,029)
Amortization of unrealized losses on transferred securities (4,446) (4,568) (4,689)
Net change (79,421) (24,913) (39,004)
Net-of-Tax      
Net unrealized gains on AFS debt securities arising during the period 177,668 50,302 76,930
Net realized losses (gains) on AFS debt securities reclassified into net income 660 (1,457) 4,833
Amortization of unrealized losses on transferred securities 10,592 10,884 11,171
Net unrealized gains (losses) arising during the period 177,668 50,302 76,930
Net realized losses reclassified into net income 11,252 9,427 16,004
Other comprehensive income 188,920 59,729 92,934
Cash Flow Hedges      
Before-Tax      
Net unrealized gains (losses) arising during the period 48,016 (124,382) (5,767)
Net realized losses reclassified into net income 20,959 91,083 79,843
Net change 68,975 (33,299) 74,076
Tax Effect      
Net unrealized gains (losses) arising during the period (13,908) 36,935 1,490
Net realized losses reclassified into net income (6,071) (27,047) (23,411)
Net change (19,979) 9,888 (21,921)
Net-of-Tax      
Net unrealized gains (losses) arising during the period 34,108 (87,447) (4,277)
Net realized losses reclassified into net income 14,888 64,036 56,432
Other comprehensive income 48,996 (23,411) 52,155
Foreign Currency Translation Adjustments      
Before-Tax      
Net unrealized gains (losses) arising during the period 1,641 (809) 698
Net change 1,641 (809) 698
Tax Effect      
Net unrealized gains (losses) arising during the period 93 (173) (754)
Net change 93 (173) (754)
Net-of-Tax      
Net unrealized gains (losses) arising during the period 1,734 (982) (56)
Net realized losses reclassified into net income 0 0 0
Other comprehensive income $ 1,734 $ (982) $ (56)
v3.25.4
Regulatory Requirements and Matters - Narrative (Details)
Dec. 31, 2025
Banking and Thrift, Interest [Abstract]  
Common equity tier 1 capital adequacy to risk weighted assets 0.045
Banking regulation, tier one risk-based capital ratio, capital a, minimum 0.060
Banking regulation, total risk-based capital ratio, capital adequacy, minimum 0.080
Banking regulation, tier one leverage capital ratio, capital adequacy, minimum 0.040
Fully phased-in capital conservation buffer 2.50%
v3.25.4
Regulatory Requirements and Matters - Regulatory Capital Information (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Minimum Regulatory Requirements    
Total capital ratio required for capital adequacy to risk weighted assets 0.080  
Tier 1 capital ratio required for capital adequacy to risk weighted assets 0.060  
Common equity tier 1 capital adequacy to risk weighted assets 0.045  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.040  
Well-Capitalized Requirement    
Fully phased-in capital conservation buffer 2.50%  
Company    
Actual    
Total capital (to risk-weighted assets), Amount $ 9,480,208 $ 8,561,797
Tier I capital (to risk-weighted assets), Amount 8,721,523 7,839,816
CET1 capital (to risk-weighted assets), Amount 8,721,523 7,839,816
Tier 1 leverage capital (to adjusted quarterly average assets), Amount $ 8,721,523 $ 7,839,816
Total capital (to risk-weighted assets), Ratio (as a percent) 0.164 0.156
Tier I capital (to risk-weighted assets), Ratio (as a percent) 0.151 0.143
CET1 capital (to risk-weighted assets), Ratio (as a percent) 0.151 0.143
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.109 0.104
Minimum Regulatory Requirements    
Total capital ratio required for capital adequacy to risk weighted assets 0.080  
Tier 1 capital ratio required for capital adequacy to risk weighted assets 0.060  
Common equity tier 1 capital adequacy to risk weighted assets 0.045  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.040  
Minimum Regulatory Requirements including Capital Conservation Buffer    
Total capital (to risk-weighted assets), Ratio (as a percent) 10.50%  
Tier I capital (to risk-weighted assets), Ratio (as a percent) 8.50%  
CET1 capital (to risk-weighted assets), Ratio (as a percent) 7.00%  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 4.00%  
Well-Capitalized Requirement    
Total capital (to risk-weighted assets), Ratio (as a percent) 0.100  
Tier I capital (to risk-weighted assets), Ratio (as a percent) 0.060  
East West Bank    
Actual    
Total capital (to risk-weighted assets), Amount $ 8,694,701 $ 8,053,389
Tier I capital (to risk-weighted assets), Amount 7,973,536 7,367,996
CET1 capital (to risk-weighted assets), Amount 7,973,536 7,367,996
Tier 1 leverage capital (to adjusted quarterly average assets), Amount $ 7,973,536 $ 7,367,996
Total capital (to risk-weighted assets), Ratio (as a percent) 0.151 0.147
Tier I capital (to risk-weighted assets), Ratio (as a percent) 0.139 0.134
CET1 capital (to risk-weighted assets), Ratio (as a percent) 0.139 0.134
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.100 0.098
Minimum Regulatory Requirements    
Total capital ratio required for capital adequacy to risk weighted assets 0.080  
Tier 1 capital ratio required for capital adequacy to risk weighted assets 0.060  
Common equity tier 1 capital adequacy to risk weighted assets 0.045  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.040  
Minimum Regulatory Requirements including Capital Conservation Buffer    
Total capital (to risk-weighted assets), Ratio (as a percent) 10.50%  
Tier I capital (to risk-weighted assets), Ratio (as a percent) 8.50%  
CET1 capital (to risk-weighted assets), Ratio (as a percent) 7.00%  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 4.00%  
Well-Capitalized Requirement    
Total capital (to risk-weighted assets), Ratio (as a percent) 0.100  
Tier I capital (to risk-weighted assets), Ratio (as a percent) 0.080  
CET1 capital (to risk-weighted assets), Ratio (as a percent) 0.065  
Tier 1 leverage capital (to adjusted quarterly average assets), Ratio (as a percent) 0.050  
v3.25.4
Business Segments - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 3
Number of operating segments 3
v3.25.4
Business Segments - Schedule Of Operating Results And Other Key Financial Measures For The Individual Operating Segments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information      
Net interest income before provision for (reversal of) credit losses $ 2,552,629 $ 2,278,716 $ 2,312,254
Noninterest income 379,227 335,218 293,112
Total revenue before provision for (reversal of) credit losses 2,931,856 2,613,934 2,605,366
Provision for (reversal of) credit losses 160,000 174,000 125,000
Compensation and employee benefits 618,753 550,734 508,538
Other noninterest expense 427,643 407,339 512,058
Total noninterest expense 1,046,396 958,073 1,020,596
INCOME BEFORE INCOME TAXES 1,725,460 1,481,861 1,459,770
Segment net income (loss) 1,325,188 1,165,586 1,161,161
Loans 54,624,959 52,368,780 49,545,136
Deposits 64,849,361 59,673,039 54,962,731
Segment assets 80,434,997 75,976,475 69,612,884
Consumer and Business Banking      
Segment Reporting Information      
Net interest income before provision for (reversal of) credit losses 1,079,288 1,152,033 1,225,954
Noninterest income 120,779 108,773 103,210
Total revenue before provision for (reversal of) credit losses 1,200,067 1,260,806 1,329,164
Provision for (reversal of) credit losses 26,044 8,691 21,454
Compensation and employee benefits 240,500 217,612 203,387
Other noninterest expense 229,833 234,494 261,406
Total noninterest expense 470,333 452,106 464,793
INCOME BEFORE INCOME TAXES 703,690 800,009 842,917
Segment net income (loss) 502,687 563,218 594,965
Loans 20,313,671 18,966,662 17,739,984
Deposits 33,384,458 30,815,912 28,174,781
Segment assets 21,384,121 20,084,814 19,165,172
Commercial Banking      
Segment Reporting Information      
Net interest income before provision for (reversal of) credit losses 1,028,314 1,125,931 1,116,013
Noninterest income 218,177 197,780 168,502
Total revenue before provision for (reversal of) credit losses 1,246,491 1,323,711 1,284,515
Provision for (reversal of) credit losses 152,085 166,953 100,391
Compensation and employee benefits 246,303 234,240 217,663
Other noninterest expense 157,616 161,969 158,949
Total noninterest expense 403,919 396,209 376,612
INCOME BEFORE INCOME TAXES 690,487 760,549 807,512
Segment net income (loss) 493,508 535,652 570,153
Loans 34,000,936 32,996,221 31,365,547
Deposits 27,137,950 25,820,956 23,304,066
Segment assets 37,393,886 35,646,939 35,020,106
Treasury and Other      
Segment Reporting Information      
Net interest income before provision for (reversal of) credit losses 445,027 752 (29,713)
Noninterest income 40,271 28,665 21,400
Total revenue before provision for (reversal of) credit losses 485,298 29,417 (8,313)
Provision for (reversal of) credit losses (18,129) (1,644) 3,155
Compensation and employee benefits 131,950 98,882 87,488
Other noninterest expense 40,194 10,876 91,703
Total noninterest expense 172,144 109,758 179,191
INCOME BEFORE INCOME TAXES 331,283 (78,697) (190,659)
Segment net income (loss) 328,993 66,716 (3,957)
Loans 310,352 405,897 439,605
Deposits 4,326,953 3,036,171 3,483,884
Segment assets $ 21,656,990 $ 20,244,722 $ 15,427,606
v3.25.4
Parent Company Condensed Financial Statements - Schedule of Condensed Balance Sheet (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
ASSETS        
Cash and cash equivalents $ 4,188,139 $ 5,250,742    
Other assets 1,991,110 1,907,189    
TOTAL 80,434,997 75,976,475 $ 69,612,884  
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Total stockholders’ equity 8,899,202 7,723,054 $ 6,950,834 $ 5,984,612
TOTAL 80,434,997 75,976,475    
Parent Company        
ASSETS        
Cash and cash equivalents 664,002 394,919    
Other assets 130,535 125,552    
TOTAL 8,956,605 7,781,978    
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Long-term debt 32,320 32,001    
Other liabilities 25,083 26,923    
Total stockholders’ equity 8,899,202 7,723,054    
TOTAL 8,956,605 7,781,978    
Parent Company | Bank        
ASSETS        
Investments in subsidiaries 8,151,065 7,251,084    
Parent Company | Nonbank        
ASSETS        
Investments in subsidiaries $ 11,003 $ 10,423    
v3.25.4
Parent Company Condensed Financial Statements - Schedule of Condensed Statement of Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of income      
Compensation and employee benefits $ 618,753 $ 550,734 $ 508,538
Other expense (income) 165,039 148,301 136,305
Income tax benefit (400,272) (316,275) (298,609)
NET INCOME 1,325,188 1,165,586 1,161,161
Parent Company      
Statement of income      
Other investment income (losses) 2,115 (954) (2,738)
Other income 714 31 0
Total income 752,895 539,204 701,584
Interest expense on long-term debt 2,527 4,507 10,889
Compensation and employee benefits 11,132 7,283 7,204
Other expense (income) 1,850 1,839 (1,086)
Total expense 15,509 13,629 17,007
Income before income tax benefit and equity in undistributed income of subsidiaries 737,386 525,575 684,577
Income tax benefit 3,510 4,143 5,844
Undistributed earnings of subsidiaries, primarily bank 584,292 635,868 470,740
NET INCOME 1,325,188 1,165,586 1,161,161
Parent Company | Other investment income (losses)      
Statement of income      
Other noninterest recovery 1,000    
Parent Company | Other Noninterest Expense      
Statement of income      
Other noninterest recovery 307   3,000
Parent Company | Bank      
Statement of income      
Dividends from subsidiaries 750,000 540,000 704,000
Parent Company | Nonbank      
Statement of income      
Dividends from subsidiaries $ 66 $ 127 $ 322
v3.25.4
Parent Company Condensed Financial Statements - Schedule of Condensed Statement of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of cash flows      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income tax expense (7,775) (14,283) (49,139)
Net change in other assets (97,306) 63,743 (146,270)
Net change in other liabilities (167,970) (242,443) 105,304
Other operating activities, net (9,099) 1,846 11,508
Net cash provided by operating activities 1,501,700 1,411,667 1,424,909
AFS debt securities:      
Proceeds from maturities 3,851,138 1,547,058 1,470,819
Purchases (6,939,256) (7,599,454) (1,549,846)
Other investing activities, net 4,527 8,894 (88,262)
Net cash used in investing activities (5,476,505) (6,295,203) (4,247,161)
Long-term debt:      
Repayment of junior subordinated debt (836) (117,437) (871)
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 3,212 3,023 3,208
Stock tendered for payment of withholding taxes (19,239) (14,877) (23,751)
Repurchase of common stock pursuant to the stock repurchase program (115,590) (143,082) (82,174)
Cash dividends paid (334,041) (308,478) (274,554)
Net cash provided by financing activities 2,897,225 5,527,526 3,962,454
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,062,603) 635,758 1,133,200
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 5,250,742 4,614,984 3,481,784
CASH AND CASH EQUIVALENTS, END OF YEAR 4,188,139 5,250,742 4,614,984
Parent Company      
Statement of cash flows      
Net income 1,325,188 1,165,586 1,161,161
Adjustments to reconcile net income to net cash provided by operating activities:      
Undistributed earnings of subsidiaries, principally bank (584,292) (635,868) (470,740)
Deferred income tax expense 62 2,788 948
Net change in other assets (5,549) (6,912) (4,160)
Net change in other liabilities (1,686) (802) (47)
Other operating activities, net 1,083 1,265 2,443
Net cash provided by operating activities 734,806 526,057 689,605
AFS debt securities:      
Proceeds from maturities 1,945,000 0 0
Purchases (1,944,333) 0 0
Redemption of trust preferred securities 0 3,558 0
Other investing activities, net (732) (494) (95,095)
Net cash used in investing activities (65) 3,064 (95,095)
Long-term debt:      
Repayment of junior subordinated debt 0 (116,558) 0
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 3,212 3,023 3,208
Stock tendered for payment of withholding taxes (19,239) (14,877) (23,751)
Repurchase of common stock pursuant to the stock repurchase program (115,590) (143,082) (82,174)
Cash dividends paid (334,041) (308,478) (274,554)
Net cash provided by financing activities (465,658) (579,972) (377,271)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 269,083 (50,851) 217,239
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 394,919 445,770 228,531
CASH AND CASH EQUIVALENTS, END OF YEAR $ 664,002 $ 394,919 $ 445,770
v3.25.4
Subsequent Events (Details)
Jan. 22, 2026
$ / shares
Subsequent Event  
Subsequent events  
Dividends paid per common share (in dollars per share) $ 0.80