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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Income Tax Expense | Income tax expense included in net income consisted of the following components:
| Years Ended December 31, |
($ in thousands) | 2025 |  | 2024 |  | 2023 |
Included in net income |  |  |  |  |  |
Current federal | $ | 89,830 |  | $ | 94,382 |  | $ | 72,884 |
Current state |  | 13,270 |  |  | 14,477 |  |  | 10,656 |
Total current provision |  | 103,100 |  |  | 108,859 |  |  | 83,540 |
Deferred federal |  | 21,114 |  |  | 3,648 |  |  | 12,139 |
Deferred state |  | 2,108 |  |  | 651 |  |  | 1,847 |
Total deferred provision |  | 23,222 |  |  | 4,299 |  |  | 13,986 |
Total expense included in net income | $ | 126,322 |  | $ | 113,158 |  | $ | 97,526 |
Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows:
| December 31, |
($ in thousands) | 2025 |  | 2024 |
Deferred tax assets: |  |  |  |
Allowance for loan losses | $ | 73,479 |  | $ | 80,270 |
Federal and state net operating loss |  | 8,483 |  |  | 2,560 |
Lease liability |  | 27,399 |  |  | 26,686 |
Net unrealized losses on securities available-for-sale and cash flow hedges |  | 93,189 |  |  | 155,432 |
Derivatives |  | 12,304 |  |  | 22,840 |
Other |  | 10,015 |  |  | 14,271 |
Gross deferred tax assets |  | 224,869 |  |  | 302,059 |
Valuation allowance |  | (5,928 | ) |  | (4,623 | )
Net deferred tax assets | $ | 218,941 |  | $ | 297,436 |
Deferred tax liabilities: |  |  |  |
Employee compensation and benefits | $ | (20,660 | ) | $ | (14,708 | )
Fixed assets & intangibles |  | (35,435 | ) |  | (33,500 | )
Lease financing |  | (66,455 | ) |  | (60,354 | )
Right-of-use asset |  | (23,014 | ) |  | (22,383 | )
Loan purchase accounting adjustments |  | — |  |  | (8 | )
Other |  | (17,579 | ) |  | (19,916 | )
Gross deferred tax liabilities | $ | (163,143 | ) | $ | (150,869 | )
Net deferred tax asset | $ | 55,798 |  | $ | 146,567 |
Effective Income Tax Rate Reconciliation | A reconciliation between reported income tax expense and the amounts computed by applying the U.S. federal statutory income tax rate of 21% to income before taxes, prepared in accordance with the revised disclosure requirements of Topic 740, is presented in the table below. Disclosures for the comparative prior periods have been reclassified to conform to the current presentation.
| 2025 |  | 2024 |  | 2023 |
($ in thousands) | Amount |  | % |  | Amount |  | % |  | Amount |  | % |
U.S. federal statutory tax rate | $ | 128,603 |  |  | 21.0 | % | $ | 120,534 |  |  | 21.0 | % | $ | 102,927 |  |  | 21.0 | %
State income taxes, net of federal income tax effect |  | 11,808 |  |  | 1.9 | % |  | 11,953 |  |  | 2.1 | % |  | 9,703 |  |  | 2.0 | %
Effects of cross-border tax laws |  |  |  |  |  |  |  |  |  |  |  |
Other |  | 19 |  |  | 0.0 | % |  | — |  |  | 0.0 | % |  | 2 |  |  | 0.0 | %
Tax credits |  |  |  |  |  |  |  |  |  |  |  |
New market tax credit |  | (4,805 | ) |  | (0.8 | )% |  | (7,268 | ) |  | (1.3 | )% |  | (6,924 | ) |  | (1.4 | )%
Other |  | (2,098 | ) |  | (0.3 | )% |  | (1,743 | ) |  | (0.3 | )% |  | (2,650 | ) |  | (0.5 | )%
Changes in valuation allowances |  | 205 |  |  | 0.0 | % |  | 234 |  |  | 0.0 | % |  | 1,679 |  |  | 0.3 | %
Nontaxable or nondeductible Items |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt interest |  | (7,773 | ) |  | (1.3 | )% |  | (8,443 | ) |  | (1.5 | )% |  | (8,755 | ) |  | (1.8 | )%
Life insurance contracts |  | (5,882 | ) |  | (1.0 | )% |  | (6,017 | ) |  | (1.0 | )% |  | (4,020 | ) |  | (0.8 | )%
Other |  | 5,571 |  |  | 1.0 | % |  | 3,908 |  |  | 0.7 | % |  | 5,136 |  |  | 1.0 | %
Changes in unrecognized tax benefits |  | 674 |  |  | 0.1 | % |  | — |  |  | 0.0 | % |  | 428 |  |  | 0.1 | %
Income tax expense | $ | 126,322 |  |  | 20.6 | % | $ | 113,158 |  |  | 19.7 | % | $ | 97,526 |  |  | 19.9 | %
Summary of Income Taxes Paid (Net of Refunds Received) | Income taxes paid (net of refunds received), disaggregated by jurisdictional categories (U.S. federal, U.S. state and local and non-U.S.) required by the revised requirements of Topic 740, is presented in the table below. The Company did not pay any non-U.S. taxes in years ended December 31, 2025, 2024 or 2023.
| Years Ended December 31, |
($ in thousands) | 2025 |  | 2024 |  | 2023 |
U.S. Federal | $ | 90,888 |  | $ | 52,731 |  | $ | 88,668 |
U.S. state and local |  |  |  |  |  |
Florida | * |  |  | 3,480 |  | * |
Other |  | 12,254 |  |  | 9,900 |  |  | 13,081 |
Total U.S. state and local |  | 12,254 |  |  | 13,380 |  |  | 13,081 |
Total income taxes paid (net of refunds received) | $ | 103,142 |  | $ | 66,111 |  | $ | 101,749 |
* The amount of income tax paid (net of refunds received) during this year does not meet the 5% disaggregation threshold.

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- 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
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