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Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Summary of Cash and Cash Equivalents

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of March 31, 2026 and March 31, 2025 (in thousands):

 

 

March 31,

 

 

 

2026

 

 

2025

 

Due from the FRB

 

$

5,525,511

 

 

$

9,692,616

 

Cash and due from banks

 

 

735,829

 

 

 

917,450

 

Cash and cash equivalents at end of period

 

$

6,261,340

 

 

$

10,610,066

 

 
Summary of Amounts Used in Determination of Basic and Diluted Net Income Per Common Share The following table provides the amounts used in the determination of basic and diluted net income per common share for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Net income

 

$

261,438

 

 

$

81,333

 

Less: Preferred dividends

 

 

5,813

 

 

 

2,013

 

Net income available to common shareholders

 

$

255,625

 

 

$

79,320

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic earnings per share

 

 

76,032,620

 

 

 

65,063,262

 

Assumed incremental common shares issued upon vesting of outstanding restricted stock units

 

 

366,613

 

 

 

432,796

 

Weighted average common shares for diluted earnings per share

 

 

76,399,233

 

 

 

65,496,058

 

Net income per common share – basic

 

$

3.36

 

 

$

1.22

 

Net income per common share – diluted

 

 

3.35

 

 

 

1.21

 

Number of antidilutive restricted stock units excluded from diluted earnings per share computation

 

 

202,485

 

 

 

—

 

Number of antidilutive stock options excluded from diluted earnings per share computation

 

 

—

 

 

 

4,962