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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Summary of Differences in Taxes from Continuing Operations Computed at Statutory Rate | Following is a summary of the major items comprising the differences in taxes from continuing operations computed at the federal statutory rate and as recorded in the consolidated statement of income:
| Years Ended December 31,
| 2025 |  | 2024 |  | 2023
(dollars in thousands) | Amount | Percent |  | Amount | Percent |  | Amount | Percent
Provision at statutory rate | $ | 176,693 |  | 21.0 | % |  | $ | 142,892 |  | 21.0 | % |  | $ | 157,774 |  | 21.0 | %
State income taxes | 32,948 |  | 3.9 |  |  | 19,619 |  | 2.9 |  |  | 31,164 |  | 4.1 |
Tax credit investments - federal: |  |  |  |  |  |  |  |
New market tax credits | (24,881) |  | (3.0) |  |  | (12,476) |  | (1.8) |  |  | (7,545) |  | (1.0) |
Other tax credit investments | (3,439) |  | (0.4) |  |  | (2,353) |  | (0.3) |  |  | (4,645) |  | (0.6) |
Nontaxable or nondeductible items: |  |  |  |  |  |  |  |
Tax-exempt interest | (22,518) |  | (2.7) |  |  | (19,439) |  | (2.9) |  |  | (18,582) |  | (2.5) |
FDIC premiums | 10,792 |  | 1.3 |  |  | 8,754 |  | 1.3 |  |  | 7,912 |  | 1.1 |
Other nontaxable or nondeductible items | 1,762 |  | 0.2 |  |  | 2,772 |  | 0.4 |  |  | 2,816 |  | 0.4 |
Change in uncertain tax positions | 374 |  | — |  |  | (2,811) |  | (0.4) |  |  | (832) |  | (0.1) |
Other, net | 405 |  | — |  |  | 4,292 |  | 0.6 |  |  | 1,248 |  | 0.2 |
Income tax expense | $ | 172,136 |  | 20.5 | % |  | $ | 141,250 |  | 20.8 | % |  | $ | 169,310 |  | 22.5 | %
Schedule of Provision for Income Taxes | The provision for income taxes consisted of the following components:
| Years Ended December 31,
(dollars in thousands) | 2025 |  | 2024 |  | 2023
Income taxes currently payable: |  |  |  |  |
Federal | $ | 62,964 |  |  | $ | 99,532 |  |  | $ | 121,428 |
State | 27,146 |  |  | 21,317 |  |  | 37,331 |
Deferred income taxes related to: |  |  |  |  |
Federal | 66,601 |  |  | 14,956 |  |  | 7,941 |
State | 15,425 |  |  | 5,445 |  |  | 2,610 |
Deferred income tax expense | 82,026 |  |  | 20,401 |  |  | 10,551 |
Income tax expense | $ | 172,136 |  |  | $ | 141,250 |  |  | $ | 169,310 |
Schedule of Significant Components of Net Deferred Tax Assets (Liabilities) | Significant components of net deferred tax assets (liabilities) were as follows:
| December 31,
(dollars in thousands) | 2025 |  | 2024
Deferred Tax Assets |  |  |
Allowance for credit losses on loans, net of recapture | $ | 157,121 |  |  | $ | 105,475 |
Acquired loans | 152,407 |  |  | 49,093 |
Unrealized losses on available-for-sale investment securities | 141,993 |  |  | 222,467 |
Operating lease liabilities | 65,656 |  |  | 57,495 |
Benefit plan accruals | 43,871 |  |  | 40,089 |
Net operating loss carryforwards | 28,327 |  |  | 19,601 |
Unrealized losses on held-to-maturity investment securities | 23,640 |  |  | 27,664 |
FDIC deductible premiums | 790 |  |  | 3,766 |
Purchase accounting assets | — |  |  | 10,062 |
Other, net | 4,550 |  |  | 6,658 |
Total deferred tax assets | 618,355 |  |  | 542,370 |
Deferred Tax Liabilities |  |  |
Operating lease right-of-use assets | (60,676) |  |  | (52,441) |
Purchase accounting liabilities | (31,694) |  |  | — |
Loan servicing rights | (17,453) |  |  | (10,012) |
Premises and equipment | (16,388) |  |  | (13,358) |
Unrealized gains on hedges | (7,343) |  |  | (1,505) |
Prepaid expenses | (5,685) |  |  | (3,982) |
Tax credit investments and other partnerships | (1,809) |  |  | (2,310) |
Other, net | (4,138) |  |  | (2,315) |
Total deferred tax liabilities | (145,186) |  |  | (85,923) |
Net deferred tax assets | $ | 473,169 |  |  | $ | 456,447 |
Schedule of Unrecognized Tax Benefits | The following table presents the changes in the carrying amount of unrecognized tax benefits:
| Years Ended December 31,
(dollars in thousands) | 2025 |  | 2024 |  | 2023
Balance at beginning of period | $ | 6,994 |  |  | $ | 9,955 |  |  | $ | 11,007 |
Additions for acquired uncertain tax positions | 8,178 |  |  | — |  |  | — |
Additions based on tax positions related to prior years | 2,152 |  |  | — |  |  | 60 |
Reductions due to statute of limitations expiring | (1,579) |  |  | (2,961) |  |  | (1,112) |
Balance at end of period | $ | 15,745 |  |  | $ | 6,994 |  |  | $ | 9,955 |
Summary of Income Taxes Paid | The following table summarizes supplemental cash flow information:
| Years Ended December 31,
(dollars in thousands) | 2025 |  | 2024 |  | 2023
Cash payments: |  |  |  |  |
Interest | $ | 1,239,737 |  |  | $ | 1,066,609 |  |  | $ | 666,121 |
Income taxes, net of refunds | 154,293 |  |  | 100,576 |  |  | 190,303 |
Noncash Investing and Financing Activities: |  |  |  |  |
Transfer of premises and equipment to assets held-for-sale | (3,588) |  |  | — |  |  | — |
Operating lease right-of-use assets obtained in exchange for lease obligations | 56,969 |  |  | 22,494 |  |  | 20,260 |
Finance lease right-of-use assets obtained in exchange for lease obligations | 9,979 |  |  | 10,073 |  |  | 10,019 |
The following table presents the amount of income taxes paid (net of refunds received) disaggregated by federal and state taxes:
|  | Years Ended December 31,
(dollars in thousands) |  | 2025 |  | 2024 |  | 2023
Jurisdiction Type | Jurisdiction | Income Taxes Paid (Net of Refunds)
Federal | Federal | $ | 116,600 |  |  | $ | 78,639 |  |  | $ | 137,386 |
State | Minnesota | 15,090 |  |  | 5,225 |  |  | 8,600 |
State | Illinois | 13,500 |  |  | 2,500 |  |  | 28,200 |
State | All others | 9,103 |  |  | 14,212 |  |  | 16,117 |
Total |  | $ | 154,293 |  |  | $ | 100,576 |  |  | $ | 190,303 |

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