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Income Taxes (Tables)

12 Months Ended

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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-Section 50
-Paragraph 9
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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.

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