v3.25.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of income tax expense/(benefit)

Income tax expense/(benefit) consists of the following:

			Year ended December 31,
(in thousands)			2025						2024						2023
Current:
Federal			$	75,535					$	37,878					$	69,350
State			11,044						7,761						5,888
Total			86,579						45,639						75,238
Deferred:
Federal			14,506						(14,960)						(16,540)
State			1,381						(1,126)						(1,244)
Total			15,887						(16,086)						(17,784)
Total expense:
Federal			90,041						22,918						52,810
State			12,425						6,635						4,644
Total			$	102,466					$	29,553					$	57,454

Reconciliation of income attributable to continuing operations

The reconciliation of income tax at the U.S. federal statutory tax rate to income tax expense and effective tax rate is as follows:

			Year ended December 31,
			2025												2024												2023
(dollars in thousands)			Amount						Rate						Amount						Rate						Amount						Rate
U.S. statutory rate			$	90,869					21		%				$	22,483					21		%				$	51,785					21		%
State and local taxes, net of federal income tax effect(1)			9,607						2		%				2,539						2		%				2,938						1		%
Tax credits
Research & development			(1,338)						—		%				(1,815)						(2)		%				(855)						—		%
Other			(378)						—		%				(18)						—		%				—						—		%
Nontaxable or nondeductible items
Tax-exempt income			(1,885)						(1)		%				(1,471)						(1)		%				(350)						—		%
Disallowed compensation			4,212						1		%				2,022						2		%				1,176						—		%
Disallowed FDIC			2,311						1		%				2,257						2		%				1,863						1		%
Other			(223)						—		%				868						1		%				742						—		%
Uncertain tax positions recognized			(709)						—		%				2,688						3		%				155						—		%
Effective tax rate			$	102,466					24		%				$	29,553					28		%				$	57,454					23		%

(1)For the years presented, California, Illinois, New York and New York City make up the majority (greater than 50%) of the tax effect in this category.

Schedule of Cash Flow, Supplemental Disclosures

Cash paid for income taxes consists of the following:

			Year ended December 31,
(dollars in thousands)			2025												2024												2023
Federal			$	57,000					81		%				$	45,000					85		%				$	67,000					93		%
State			13,178						19		%				7,815						15		%				4,941						7		%
Total			$	70,178					100		%				$	52,815					100		%				$	71,941					100		%

Schedule of deferred tax assets and liabilities

The table below summarizes significant components of deferred tax assets and liabilities utilizing the federal corporate income tax rate of 21% and state tax rate of 3% for 2025 and 2% for 2024. Management believes it is more likely than not that all of the deferred tax assets will be realized.

			December 31,
(in thousands)			2025						2024
Deferred tax assets:
Allowance for credit losses			$	76,543					$	73,394
Lease liabilities			53,144						50,852
Loan origination fees, net			17,979						14,765
Stock compensation			6,942						6,518
Non-accrual interest			2,718						2,707
Deferred compensation			5,442						5,336
Net unrealized losses in AOCI			19,292						53,404
Other			2,441						6,108
Total deferred tax assets			184,501						213,084
Deferred tax liabilities:
Lease financing transactions			(17,125)						(15,262)
Lease ROU assets			(37,692)						(37,527)
Depreciation			(21,301)						(1,513)
Other			(60)						(460)
Total deferred tax liabilities			(76,178)						(54,762)
Net deferred tax asset			$	108,323					$	158,322

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