XML 73 R59.htm IDEA: XBRL DOCUMENT v3.25.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Federal and state income tax expense consist of the following:

TABLE 19.1

Year Ended December 31			2025						2024						2023
(in millions)
Current income taxes:
Federal taxes			$	48					$	39					$	93
State taxes			10						6						12
Total current income taxes			58						45						105
Deferred income taxes:
Federal taxes			43						41						(8)
State taxes			3						4						2
Total deferred income taxes			46						45						(6)
Total income taxes			$	104					$	90					$	99

Schedule of Reconciliation Between the Statutory Tax Rate and Actual Effective Tax Rate

The following table for the year ended December 31, 2025 is presented using both percentages and reporting currency amounts. The disclosure is presented only for the current year, as the FASB does not require retroactive application or comparative disclosure for prior periods.

TABLE 19.2

Year Ended December 31			2025
(dollars in millions)			Amount						Percent
Statutory federal tax rate			$	141					21.0		%
State and local income taxes, net of federal income tax effect			10						1.6
Tax credits:
Renewable energy investment tax credits			(37)						(5.6)
LIHTC			(21)						(3.2)
Other tax credits			(5)						(0.7)
Non-taxable or non-deductible items:
Tax-exempt interest			(9)						(1.3)
Cash surrender value on BOLI			(4)						(0.6)
Tax credit cost amortization, net of tax benefits			20						2.9
FDIC premium disallowance			7						1.1
Other non-taxable or non-deductible items			3						0.4
Other			(1)						(0.1)
Total income taxes / effective tax rate			$	104					15.5		%

The following table provides a reconciliation between the statutory tax rate and the actual effective tax rate:

TABLE 19.3

Year Ended December 31			2024						2023
Statutory federal tax rate			21.0		%				21.0		%
State taxes, net of federal benefit			1.5						1.9
Tax-exempt interest			(1.5)						(1.6)
Cash surrender value on BOLI			(0.6)						(0.5)
Tax credits			(9.0)						(7.3)
Tax credit cost amortization, net of tax benefits			3.2						2.3
FDIC premium disallowance			1.3						1.0
Other items			0.4						0.1
Effective tax rate			16.3		%				16.9		%

Schedule of Supplemental Cash Flow Information

Net income tax refunds totaled $22.6 million for the year ended December 31, 2025 and are disaggregated by jurisdiction as follows:

TABLE 19.4

(in millions)			Amount Paid
Jurisdiction
Federal			$	(33)
State
Maryland			4
North Carolina			3
Other			3
Total state			10
Total income taxes paid (refunded)			$	(23)

Following is a summary of supplemental cash flow information:

TABLE 23.1

Year Ended December 31			2025						2024						2023
(in millions)
Interest paid on deposits and other borrowings			$	942					$	973					$	619
Income taxes (refunded) paid			(23)						58						94
Transfers of loans to other real estate owned			2						2						2
Loans transferred to held for sale from portfolio			239						431						355
Loans transferred to portfolio from held for sale			43						20						38

Schedule of Deferred Tax Assets and Liabilities from Tax Effects of Temporary Differences

The following table presents the tax effects of significant temporary differences that give rise to federal and state DTAs and DTLs:

TABLE 19.5

December 31			2025						2024
(in millions)
Deferred tax assets:
Allowance for credit losses			$	98					$	95
Discounts on loans acquired in a business combination			6						8
Net operating loss/tax credit carryforwards			40						44
Deferred compensation			19						17
Securities impairment			2						2
Lease liability			66						68
Net unrealized securities losses			10						39
Other			20						22
Total			261						295
Valuation allowance			(31)						(34)
Total deferred tax assets			230						261
Deferred tax liabilities:
Loan costs			(16)						(13)
Depreciation			(29)						(16)
Prepaid expenses			(2)						(2)
Amortizable intangibles			(13)						(16)
Pension and other defined benefit plans			(17)						(13)
Equipment financing			(98)						(68)
Mortgage servicing rights			(16)						(16)
Lease ROU asset			(55)						(58)
Other			(1)						(1)
Total deferred tax liabilities			(247)						(203)
Net deferred tax assets (liabilities)			$	(17)					$	58

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration