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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense reflects the following expense (benefit) components:

			Years ended December 31,
(In thousands)			2025						2024						2023
Current:
Federal			$	154,714					$	171,913					$	219,548
State and local			55,045						58,204						50,750
Total current			209,759						230,117						270,298
Deferred:
Federal			45,537						(14,464)						(43,615)
State and local			2,051						32,647						(10,019)
Total deferred			47,588						18,183						(53,634)
Total federal			200,251						157,449						175,933
Total state and local			57,096						90,851						40,731
Income tax expense			$	257,347					$	248,300					$	216,664

The following table summarizes the amount of income tax credits, other income tax benefits, and investment amortization generated from the Company’s LIHTC investments, which are recognized as a component of income tax expense on the accompanying Consolidated Statements of Income:

			Years ended December 31,
(In thousands)			2025						2024						2023
Income tax credits and other income tax benefits from LIHTC investments			$	(142,347)					$	(107,851)					$	(90,093)
Investment amortization from LIHTC investments			115,274						80,902						71,775

Schedule of Effective Income Tax Rate Reconciliation

The following table reflects a reconciliation of reported income tax expense to the amount that would result from applying the federal statutory rate of 21.0%:

			Years ended December 31,
			2025									2024									2023
(Dollars in thousands)			Amount			Percent						Amount			Percent						Amount			Percent
Income tax expense at federal statutory rate			$	264,631		21.0		%				$	213,572		21.0		%				$	227,746		21.0		%
Reconciliation to reported income tax expense:
SALT expense, net of federal (1)			45,906			3.6						64,798			6.4						28,603			2.7
Tax credits:
LIHTCs and related benefits, net of amortization			(16,804)			(1.3)						(17,376)			(1.7)						(7,070)			(0.7)
Other			(597)			(0.1)						(1,237)			(0.1)						(824)			(0.1)
Changes in valuation allowances			(1,378)			(0.1)						1,378			0.1						(368)			—
Nontaxable or Nondeductible items:
Tax-exempt interest, net			(44,369)			(3.5)						(31,500)			(3.1)						(44,473)			(4.1)
Non-deductible FDIC deposit insurance premiums			12,878			1.0						12,305			1.2						10,693			1.0
Other			(2,952)			(0.2)						(4,156)			(0.4)						(938)			(0.1)
Changes in unrecognized tax benefits (2)			(894)			(0.1)						3,635			0.4						4,466			0.4
Other, net			926			0.1						6,881			0.6						(1,171)			(0.1)
Income tax expense and effective tax rate			$	257,347		20.4		%				$	248,300		24.4		%				$	216,664		20.0		%

(1)The majority (greater than 50 percent) of the tax effect in this category is comprised of New York State, along with Massachusetts in 2025, Connecticut in 2024, and New York City in 2023.

(2)Changes in unrecognized tax benefits include interest and penalties.

Schedule of Deferred Tax Assets and Liabilities

The following table reflects the significant components of DTAs, net:

			December 31,
(In thousands)			2025						2024
Deferred tax assets:
ACL on loans and leases			$	195,913					$	187,348
Net operating loss and credit carry forwards			73,180						74,363
Compensation and employee benefit plans			58,649						50,880
Lease liabilities under operating leases			54,989						52,397
Net unrealized loss on available-for-sale securities			124,044						193,309
Other			36,155						71,008
Gross deferred tax assets			542,930						629,305
Valuation allowance			(56,816)						(64,422)
Total deferred tax assets, net of valuation allowance			$	486,114					$	564,883
Deferred tax liabilities:
ROU assets under operating leases			$	47,918					$	44,434
Equipment financing leases			84,337						54,990
Goodwill and other intangible assets			96,029						102,042
Purchase accounting and fair value adjustments			16,170						10,359
Other			45,920						36,202
Gross deferred tax liabilities			290,374						248,027
Deferred tax assets, net			$	195,740					$	316,856

Schedule of Unrecognized Tax Benefits Roll Forward

The following table reflects a reconciliation of the beginning and ending balances of UTBs:

			Years ended December 31,
(In thousands)			2025						2024						2023
Beginning balance			$	13,766					$	13,836					$	9,875
Additions as a result of tax positions taken during the current year			305						493						359
Additions as a result of tax positions taken during prior years			3,430						7,447						4,255
Reductions as a result of tax positions taken during prior years			(3,626)						(5,651)						—
Reductions relating to settlements with taxing authorities			(2,553)						(1,997)						—
Reductions as a result of lapse of statute of limitation periods			(894)						(362)						(653)
Ending balance			$	10,428					$	13,766					$	13,836

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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