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Premises and Equipment | 12 Months Ended
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Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Premises and Equipment The following table summarizes the components of premises and equipment:
| December 31,
(In thousands) | 2025 |  | 2024
Land | $ | 73,442 |  |  | $ | 73,442 |
Buildings and improvements | 105,163 |  |  | 102,062 |
Leasehold improvements | 75,970 |  |  | 74,288 |
Furniture, fixtures, and equipment | 68,611 |  |  | 64,651 |
Data processing equipment and software | 118,750 |  |  | 103,811 |
Property and equipment | 441,936 |  |  | 418,254 |
Less: Accumulated depreciation and amortization | (186,573) |  |  | (175,118) |
Property and equipment, net | 255,363 |  |  | 243,136 |
ROU lease assets, net | 176,672 |  |  | 163,827 |
Premises and equipment, net | $ | 432,035 |  |  | $ | 406,963 |
Depreciation and amortization of property and equipment was $37.0 million, $35.4 million, and $34.7 million for the years ended December 31, 2025, 2024, and 2023, respectively, and is included in both Occupancy and Technology and equipment expense on the accompanying Consolidated Statements of Income. The Company recognized $0.3 million, $1.7 million, and $4.6 million in losses on disposals of property and equipment for the years ended December 31, 2025, 2024, and 2023, respectively, which primarily pertained to construction in progress as a result of the Company’s decision to stop further project development and the retirement of internal use software. Additional information regarding ROU lease assets, net can be found within Note 6: Leasing. Property and Equipment Held for Sale Assets held for disposition are included in Accrued interest receivable and other assets on the accompanying Consolidated Balance Sheets. At December 31, 2025, and 2024, the carrying amount of assets held for disposition, which was comprised entirely of returned finance lease equipment, was $1.8 million and $5.1 million, respectively. When finance lease equipment is returned to the Company, either at the end of the lease term or through repossession, and management’s intent is to sell the equipment, the asset is reclassified from Loans and leases to assets held for disposition and recorded at the lower of cost or fair value, less estimated costs to sell. During the years ended December 31, 2025, 2024, and 2023, returned finance lease equipment of $3.2 million, $5.6 million, and $5.1 million, respectively, was transferred to assets held for disposition and experienced subsequent write-downs of $1.0 million, $0.3 million, and $0.1 million, respectively, prior to sale. For sales of such equipment that occurred during the years ended December 31, 2025, 2024, and 2023, the Company received cash proceeds of $4.3 million, $4.4 million, and $2.7 million, respectively, and recognized (losses) gains on sale of $(1.2) million, $0.4 million, and $1.1 million, respectively. During the year ended December 31, 2024, the Company arranged and sold its Manchester, Connecticut property, which was comprised of land, buildings, and improvements, and had a net carrying value of $0.7 million. The Company received cash proceeds of $1.6 million and recognized a gain on sale of $0.9 million. In addition, during the year ended December 31, 2024, the Company arranged and sold its Yonkers, New York, property, which was comprised of land, buildings, and improvements. Upon making the determination to sell, the Company recognized a $0.4 million write-down and then transferred the property to assets held for disposition at its fair market value of $0.8 million less estimated costs to sell of $0.1 million. The Company received cash proceeds of $0.7 million and recognized an insignificant gain on sale. During the year ended December 31, 2023, the Company sold its New Britain, Connecticut, property, which was comprised of land, buildings, and improvements, and had a fair market value of $4.8 million. The Company received cash proceeds of $4.1 million and recognized a loss on sale of $0.7 million.

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