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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present, for each of the fair value hierarchy levels, the Company’s financial assets and liabilities that are measured at fair value on a recurring basis on the consolidated balance sheets at December 31, 2025 and 2024:

	December 31, 2025
($ in thousands)	Level 1			Level 2			Level 3			Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	—		$	269,332		$	—		$	269,332
Municipal obligations		—			191,328			—			191,328
Corporate debt securities		—			16,357			—			16,357
Residential mortgage-backed securities		—			2,375,629			—			2,375,629
Commercial mortgage-backed securities		—			3,083,325			—			3,083,325
Collateralized mortgage obligations		—			25,946			—			25,946
Total available for sale securities		—			5,961,917			—			5,961,917
Mortgage loans held for sale		—			33,158			—			33,158
Derivative assets (1)		—			63,126			—			63,126
Total recurring fair value measurements - assets	$	—		$	6,058,201		$	—		$	6,058,201
Liabilities
Derivative liabilities (1)	$	—		$	94,083		$	1,284		$	95,367
Total recurring fair value measurements - liabilities	$	—		$	94,083		$	1,284		$	95,367

(1) For further disaggregation of derivative assets and liabilities, see Note 12 – Derivatives.

	December 31, 2024
(in thousands)	Level 1			Level 2			Level 3			Total
Assets
Available for sale debt securities:
U.S. Treasury and government agency securities	$	—		$	182,282		$	—		$	182,282
Municipal obligations		—			196,330			—			196,330
Corporate debt securities		—			17,616			—			17,616
Residential mortgage-backed securities		—			2,129,051			—			2,129,051
Commercial mortgage-backed securities		—			2,600,965			—			2,600,965
Collateralized mortgage obligations		—			35,247			—			35,247
Total available for sale securities		—			5,161,491			—			5,161,491
Mortgage loans held for sale		—			18,929			—			18,929
Derivative assets (1)		—			73,840			—			73,840
Total recurring fair value measurements - assets	$	—		$	5,254,260		$	—		$	5,254,260
Liabilities
Derivative liabilities (1)	$	—		$	158,534		$	2,089		$	160,623
Total recurring fair value measurements - liabilities	$	—		$	158,534		$	2,089		$	160,623

(1) For further disaggregation of derivative assets and liabilities, see Note 12 – Derivatives.

Financial Assets Measured at Fair Value on Nonrecurring Basis

The following tables present the Company’s financial assets that are measured at fair value on a nonrecurring basis for each of the fair value hierarchy levels:

	December 31, 2025
($ in thousands)	Level 1			Level 2			Level 3			Total
Collateral dependent individually evaluated loans	$	—		$	—		$	33,762		$	33,762
Other real estate owned and foreclosed assets		—			—			14,788			14,788
Total nonrecurring fair value measurements	$	—		$	—		$	48,550		$	48,550

	December 31, 2024
($ in thousands)	Level 1			Level 2			Level 3			Total
Collateral dependent individually evaluated loans	$	—		$	—		$	28,301		$	28,301
Other real estate owned and foreclosed assets		—			—			27,797			27,797
Total nonrecurring fair value measurements	$	—		$	—		$	56,098		$	56,098

Estimated Fair Values of Financial Instruments

The following tables present the estimated fair values of the Company’s financial instruments by fair value hierarchy levels and the corresponding carrying amounts.

	December 31, 2025
										Total			Carrying
($ in thousands)	Level 1			Level 2			Level 3			Fair Value			Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	695,032		$	229		$	—		$	695,261		$	695,261
Available for sale securities		—			5,961,917			—			5,961,917			5,961,917
Held to maturity securities		—			2,011,026			—			2,011,026			2,132,882
Loans, net		—			—			23,588,681			23,588,681			23,650,709
Loans held for sale		—			33,158			—			33,158			33,158
Derivative financial instruments		—			63,126			—			63,126			63,126
Financial liabilities:
Deposits	$	—		$	—		$	29,274,190		$	29,274,190		$	29,279,774
Federal funds purchased		—			70,400			—			70,400			70,400
Securities sold under agreements to repurchase		—			546,892			—			546,892			546,892
Short-term FHLB Borrowings		—			400,000			—			400,000			400,000
Long-term debt		—			162,257			—			162,257			199,407
Derivative financial instruments		—			94,083			1,284			95,367			95,367

	December 31, 2024
										Total			Carrying
($ in thousands)	Level 1			Level 2			Level 3			Fair Value			Amount
Financial assets:
Cash, interest-bearing bank deposits, and federal funds sold	$	1,514,216		$	409		$	—		$	1,514,625		$	1,514,625
Available for sale securities		—			5,161,491			—			5,161,491			5,161,491
Held to maturity securities		—			2,233,526			—			2,233,526			2,435,663
Loans, net		—			—			22,562,577			22,562,577			22,980,565
Loans held for sale		—			21,525			—			21,525			21,525
Derivative financial instruments		—			73,840			—			73,840			73,840
Financial liabilities:
Deposits	$	—		$	—		$	29,482,628		$	29,482,628		$	29,492,851
Federal funds purchased		—			300			—			300			300
Securities sold under agreements to repurchase		—			638,715			—			638,715			638,715
Long-term debt		—			174,660			—			174,660			210,544
Derivative financial instruments		—			158,534			2,089			160,623			160,623

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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