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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense/Benefit | The following table presents the components of income tax expense (benefit) for the years ended December 31, 2024, 2023 and 2022:
|  | Year Ended December 31,
($ in thousands) |  | 2024 |  | 2023 |  | 2022
Current income tax expense: |  |  |  |  |  |
Federal |  | $ | 166,268 |  |  | $ | 172,428 |  |  | $ | 163,797 |
State |  | 153,891 |  |  | 173,080 |  |  | 160,629 |
Foreign |  | 10,399 |  |  | 2,240 |  |  | 3,133 |
Total current income tax expense |  | 330,558 |  |  | 347,748 |  |  | 327,559 |
Deferred income tax (benefit) expense: |  |  |  |  |  |
Federal |  | (6,467) |  |  | (24,319) |  |  | (23,484) |
State |  | (5,582) |  |  | (23,415) |  |  | (21,835) |
Foreign |  | (2,234) |  |  | (1,405) |  |  | 1,331 |
Total deferred income tax benefit |  | (14,283) |  |  | (49,139) |  |  | (43,988) |
Income tax expense |  | $ | 316,275 |  |  | $ | 298,609 |  |  | $ | 283,571 |
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, 2024, 2023 and 2022:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Statutory U.S. federal tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
U.S. state income taxes, net of U.S. federal income tax effect |  | 7.7 |  |  | 8.1 |  |  | 7.8 |
Tax credits and benefits, net of amortization |  | (7.4) |  |  | (9.9) |  |  | (8.9) |
Other, net |  | — |  |  | 1.3 |  |  | 0.2 |
Effective tax rate |  | 21.3 | % |  | 20.5 | % |  | 20.1 | %
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, 2024 and 2023:
|  |  |  |  |  |  |  | December 31,
($ in thousands) |  |  |  |  |  |  |  | 2024 |  |  |  |  |  |  |  | 2023
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses and nonperforming assets valuation allowance |  |  |  |  |  |  |  | $ | 233,879 |  |  |  |  |  |  |  |  | $ | 217,731 |
Net unrealized losses on AFS debt and transferred securities |  |  |  |  |  |  |  | 223,814 |  |  |  |  |  |  |  |  | 246,835 |
Stock compensation and other accrued compensation |  |  |  |  |  |  |  | 41,118 |  |  |  |  |  |  |  |  | 33,169 |
Lease liabilities |  |  |  |  |  |  |  | 27,644 |  |  |  |  |  |  |  |  | 32,636 |
FDIC special assessment charge |  |  |  |  |  |  |  | 16,843 |  |  |  |  |  |  |  |  | 22,212 |
Basis difference in investments |  |  |  |  |  |  |  | 17,708 |  |  |  |  |  |  |  |  | 28,216 |
State capital loss and tax credit carryforwards |  |  |  |  |  |  |  | 11,122 |  |  |  |  |  |  |  |  | 266 |
Nonaccrual loans’ interest income |  |  |  |  |  |  |  | 8,809 |  |  |  |  |  |  |  |  | 7,034 |
State taxes |  |  |  |  |  |  |  | 5,808 |  |  |  |  |  |  |  |  | 9,885 |
Other |  |  |  |  |  |  |  | 14,665 |  |  |  |  |  |  |  |  | 10,535 |
Total deferred tax assets |  |  |  |  |  |  |  | $ | 601,410 |  |  |  |  |  |  |  |  | $ | 608,519 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  |  |  |  |  |  |  | $ | 25,647 |  |  |  |  |  |  |  |  | $ | 30,272 |
Basis difference in investments |  |  |  |  |  |  |  | 25,587 |  |  |  |  |  |  |  |  | 23,103 |
Equipment lease financing |  |  |  |  |  |  |  | 10,395 |  |  |  |  |  |  |  |  | 15,564 |
Prepaid expenses |  |  |  |  |  |  |  | 2,319 |  |  |  |  |  |  |  |  | 2,981 |
FHLB stock dividends |  |  |  |  |  |  |  | 1,961 |  |  |  |  |  |  |  |  | 1,947 |
Mortgage servicing assets |  |  |  |  |  |  |  | 1,678 |  |  |  |  |  |  |  |  | 2,102 |
Other |  |  |  |  |  |  |  | 20,479 |  |  |  |  |  |  |  |  | 13,801 |
Total deferred tax liabilities |  |  |  |  |  |  |  | $ | 88,066 |  |  |  |  |  |  |  |  | $ | 89,770 |
Net deferred tax assets |  |  |  |  |  |  |  | $ | 513,344 |  |  |  |  |  |  |  |  | $ | 518,749 |
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, 2024, 2023 and 2022:
|  | Year Ended December 31, |
($ in thousands) |  | 2024 |  | 2023 |  | 2022 |
Beginning balance |  | $ | 1,193 |  |  | $ | 477 |  |  | $ | 5,045 |  |
Additions for tax positions related to prior years |  | 2,698 |  | (1) | 459 |  |  | — |  |
Additions for tax positions related to current year |  | 779 |  |  | 257 |  |  | — |  |
Settlements with taxing authorities |  | — |  |  | — |  |  | (4,568) |  | (2)
Ending balance |  | $ | 4,670 |  |  | $ | 1,193 |  |  | $ | 477 |  |
(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 2022, the Company settled an issue regarding previously claimed tax credits related to DC Solar and affiliates.

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