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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the components of income tax expense for the years indicated:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Current Tax Expense: |  |  |  |  |
Federal | $ | 45,554 |  |  | $ | 34,219 |  |  | $ | 63,833 |
State | 1,156 |  |  | 3,387 |  |  | 44,734 |
Total current tax expense | 46,710 |  |  | 37,606 |  |  | 108,567 |
Deferred Tax (Benefit) Expense: |  |  |  |  |
Federal | (6,082) |  |  | (238,865) |  |  | 35,789 |
State | 1,138 |  |  | (110,942) |  |  | (401) |
Total deferred tax (benefit) expense | (4,944) |  |  | (349,807) |  |  | 35,388 |
Total income tax (benefit) expense | $ | 41,766 |  |  | $ | (312,201) |  |  | $ | 143,955 |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation of the recorded income tax expense to the amount of taxes computed by applying the applicable federal statutory income tax rates of 21% for 2024, 2023, and 2022 to earnings before income taxes:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Computed expected income tax (benefit) expense at federal statutory rate | $ | 35,417 |  |  | $ | (464,381) |  |  | $ | 119,189 |
State tax (benefit) expense, net of federal tax benefit | 12,657 |  |  | (156,669) |  |  | 36,310 |
Goodwill impairment | — |  |  | 286,811 |  |  | — |
Tax‑exempt interest benefit | (15,572) |  |  | (12,518) |  |  | (12,293) |
Increase in cash surrender value of life insurance | (1,246) |  |  | (1,455) |  |  | (1,246) |
Low income housing tax credits, net of amortization | (12,378) |  |  | (8,574) |  |  | (7,158) |
Nondeductible employee compensation | 1,683 |  |  | 3,947 |  |  | 6,067 |
Nondeductible acquisition‑related expense | — |  |  | 5,456 |  |  | — |
Nondeductible FDIC premiums | 9,377 |  |  | 18,973 |  |  | 4,257 |
Change in unrecognized tax benefits | 40 |  |  | 443 |  |  | (2,017) |
Valuation allowance change | (2,115) |  |  | (5,948) |  |  | 1,805 |
Disallowed interest | 11,043 |  |  | 12,318 |  |  | 2,455 |
Equity compensation shortfall (windfall) | 4,991 |  |  | 4,949 |  |  | (410) |
State rate and apportionment changes | (4,662) |  |  | 2,240 |  |  | (2,189) |
Other, net | 2,531 |  |  | 2,207 |  |  | (815) |
Recorded income tax (benefit) expense | $ | 41,766 |  |  | $ | (312,201) |  |  | $ | 143,955 |
Schedule of Deferred Tax Assets and Liabilities | The following table presents the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated:
| December 31,
| 2024 |  | 2023
| (In thousands)
Deferred Tax Assets: |  |  |
Book allowance for loan losses in excess of tax specific charge-offs | $ | 78,096 |  |  | $ | 90,531 |
Fair value mark on acquired loans | 65,100 |  |  | 96,844 |
Interest on nonaccrual loans | 4,569 |  |  | 4,866 |
Deferred compensation | 4,902 |  |  | 5,256 |
Foreclosed assets valuation allowance | 335 |  |  | 663 |
Net operating losses | 292,843 |  |  | 282,127 |
Accrued liabilities | 102,232 |  |  | 106,834 |
Unrealized loss from FDIC‑assisted acquisitions | 413 |  |  | 767 |
Unrealized loss on securities available-for-sale | 79,977 |  |  | 101,602 |
Unrealized loss on securities held-to-maturity | 62,162 |  |  | 71,197 |
Tax mark-to-market on loans | 250 |  |  | — |
Goodwill | 73,863 |  |  | 81,607 |
Tax credits | 130,522 |  |  | 80,610 |
Lease liability | 35,447 |  |  | 45,742 |
FDIC indemnification asset | 7,028 |  |  | 9,273 |
Other | 3,159 |  |  | 1,582 |
Gross deferred tax assets | 940,898 |  |  | 979,501 |
Valuation allowance | (19,015) |  |  | (21,061) |
Deferred tax assets, net of valuation allowance | 921,883 |  |  | 958,440 |
Deferred Tax Liabilities: |  |  |
Core deposit and customer relationship intangibles | 27,292 |  |  | 29,885 |
Deferred loan fees and costs | 2,193 |  |  | 1,039 |
Unrealized gain on credit-linked notes | 1,452 |  |  | 2,212 |
Premises and equipment, principally due to differences in depreciation | 5,710 |  |  | 6,682 |
FHLB stock | 553 |  |  | 4,717 |
Tax mark-to-market on loans | — |  |  | 539 |
Subordinated debt | 14,789 |  |  | 15,862 |
Equity investments | 9,695 |  |  | 9,953 |
Operating leases | 110,415 |  |  | 110,522 |
ROU assets | 29,197 |  |  | 37,918 |
Gross deferred tax liabilities | 201,296 |  |  | 219,329 |
Total net deferred tax assets | $ | 720,587 |  |  | $ | 739,111 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to the Company's unrecognized tax benefits for the years indicated:
| Year Ended December 31,
Unrecognized Tax Benefits | 2024 |  | 2023
| (In thousands)
Balance, beginning of year | $ | 1,598 |  |  | $ | 407 |
Increase based on tax positions related to prior years | — |  |  | 1,598 |
Reductions for tax positions related to prior years | (953) |  |  | (407) |
Balance, end of year | $ | 645 |  |  | $ | 1,598 |
Unrecognized tax benefits that would affect the effective tax rate if recognized | $ | 645 |  |  | $ | 1,598 |

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