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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2025
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity A summary of the Company’s common and preferred stock at December 31, 2025 and 2024 is as follows:
|  | 2025 |  | 2024
Common Stock: |  |  |  |
Shares authorized |  | 100,000,000 |  |  | 100,000,000 |
Shares issued |  | 67,062,182 |  |  | 66,560,182 |
Shares outstanding |  | 66,974,913 |  |  | 66,495,227 |
Cash dividend per share |  | $ | 2.00 |  |  | $ | 1.80 |
Preferred Stock: |  |  |  |
Shares authorized |  | 20,000,000 |  |  | 20,000,000 |
Shares issued |  | 17,000 |  |  | 5,011,500 |
Shares outstanding |  | 17,000 |  |  | 5,011,500 |
The Company reserves shares of its authorized common stock specifically for the 2025 Plan, the ESPP and the DDFS. The reserved shares and these plans are detailed in Note (18) “Stock Compensation Plans and Other Employee Benefit Plans”. Preferred Stock Redemption On July 15, 2025, the Company redeemed all 5,000,000 issued and outstanding shares of the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (the “Series D Preferred Stock”), for a redemption price of $25.00 per share or $125.0 million. Also, the Company redeemed all 11,500 issued and outstanding shares of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E (the “Series E Preferred Stock”), and all of the related 11,500,000 issued and outstanding depositary shares (the “Depositary Shares”), each representing a 1/1,000 th interest in a share of Series E Preferred Stock, for a redemption price of $25,000 per share of Series E Preferred Stock (or $25.00 per Depositary Share) or $287.5 million. The regular quarterly dividends on the Series D Preferred Stock and the Series E Preferred Stock represented by the Depositary Shares were paid separately on July 15, 2025 to holders of record on July 1, 2025. Accordingly, the redemption price did not include any accrued and unpaid dividends. Series F Preferred Stock In May 2025, the Company issued 17,000 shares of fixed-rate reset non-cumulative perpetual preferred stock, Series F, liquidation preference $25,000 per share (the “Series F Preferred Stock”) as part of a $425 million public offering of 17,000,000 depository shares, each representing a 1/1,000 th interest in a share of Series F Preferred Stock. When, as and if declared, dividends on the Series F Preferred Stock are payable quarterly in arrears at a fixed rate of 7.875% per annum starting October 15, 2025. The redemption of the Series D Preferred Stock and Series E Preferred Stock in July 2025 was funded with a portion of the net proceeds from the issuance of the Series F Preferred Stock. Other At the January 2026 Board of Directors meeting, a quarterly cash dividend of $0.55 per share of common stock ($2.20 on an annualized basis) was declared. It was paid on February 19, 2026 to shareholders of record as of February 5, 2026. Accumulated Other Comprehensive Income or Loss The following tables summarize the components of other comprehensive income or loss, including the related income tax effects, and the related amount reclassified to net income for the years ended December 31, 2025, 2024 and 2023:
(In thousands) |  | Accumulated Unrealized Gains (Losses) on Securities |  | Accumulated Unrealized Gains (Losses) on Derivative Instruments |  | Accumulated Foreign Currency Translation Adjustments |  | Total Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2025 |  | $ | (429,580) |  |  | $ | (11,227) |  |  | $ | (67,528) |  |  | $ | (508,335) |
Other comprehensive income during the period, net of tax, before reclassifications |  | 136,899 |  |  | 49,070 |  |  | 14,691 |  |  | 200,660 |
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax |  | (118) |  |  | 12,069 |  |  | — |  |  | 11,951 |
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax |  | (30) |  |  | — |  |  | — |  |  | (30) |
Net other comprehensive income during the period, net of tax |  | $ | 136,751 |  |  | $ | 61,139 |  |  | $ | 14,691 |  |  | $ | 212,581 |
Balance at December 31, 2025 |  | $ | (292,829) |  |  | $ | 49,912 |  |  | $ | (52,837) |  |  | $ | (295,754) |
Balance at January 1, 2024 |  | $ | (350,697) |  |  | $ | 32,049 |  |  | $ | (42,583) |  |  | $ | (361,231) |
Other comprehensive loss during the period, net of tax, before reclassifications |  | (77,903) |  |  | (96,872) |  |  | (24,945) |  |  | (199,720) |
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax |  | (915) |  |  | 53,596 |  |  | — |  |  | 52,681 |
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax |  | (65) |  |  | — |  |  | — |  |  | (65) |
Net other comprehensive loss during the period, net of tax |  | $ | (78,883) |  |  | $ | (43,276) |  |  | $ | (24,945) |  |  | $ | (147,104) |
Balance at December 31, 2024 |  | $ | (429,580) |  |  | $ | (11,227) |  |  | $ | (67,528) |  |  | $ | (508,335) |
Balance at January 1, 2023 |  | $ | (386,057) |  |  | $ | 7,381 |  |  | $ | (48,960) |  |  | $ | (427,636) |
Other comprehensive income (loss) during the period, net of tax, before reclassifications |  | 36,214 |  |  | (16,334) |  |  | 6,377 |  |  | 26,257 |
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax |  | (699) |  |  | 41,002 |  |  | — |  |  | 40,303 |
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax |  | (155) |  |  | — |  |  | — |  |  | (155) |
Net other comprehensive income during the period, net of tax |  | $ | 35,360 |  |  | $ | 24,668 |  |  | $ | 6,377 |  |  | $ | 66,405 |
Balance at December 31, 2023 |  | $ | (350,697) |  |  | $ | 32,049 |  |  | $ | (42,583) |  |  | $ | (361,231) |
|  | Amount Reclassified from Accumulated Other Comprehensive Income or Loss for the Years Ended, |  |
Details Regarding the Component of Accumulated Other Comprehensive Income or Loss |  | December 31, |  | Impacted Line on the Consolidated Statements of Income
| 2025 |  | 2024 |  | 2023 |
|  | (In thousands) |  |
Accumulated unrealized gains on available-for-sale securities |  |  |  |  |  |  |  |
Gains included in net income |  | $ | 159 |  |  | $ | 1,236 |  |  | $ | 951 |  |  | Gains (losses) on investment securities, net
|  | 159 |  |  | 1,236 |  |  | 951 |  |  | Income before taxes
Tax effect |  | (41) |  |  | (321) |  |  | (252) |  |  | Income tax expense
Net of tax |  | $ | 118 |  |  | $ | 915 |  |  | $ | 699 |  |  | Net income
Accumulated unrealized gains (losses) on derivative instruments |  |  |  |  |  |  |  |
Amount reclassified to interest income on loans |  | $ | 29,611 |  |  | $ | 87,306 |  |  | $ | 74,616 |  |  | Interest on loans
Amount reclassified to interest expense on deposits |  | (13,300) |  |  | (14,632) |  |  | (19,559) |  |  | Interest on deposits
Amount reclassified to interest expense on other borrowings |  | — |  |  | — |  |  | 789 |  |  | Interest on other borrowings
|  | (16,311) |  |  | (72,674) |  |  | (55,846) |  |  | Income before taxes
Tax effect |  | 4,242 |  |  | 19,078 |  |  | 14,844 |  |  | Income tax expense
Net of tax |  | $ | (12,069) |  |  | $ | (53,596) |  |  | $ | (41,002) |  |  | Net income

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