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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Current and Deferred Amounts of Income Tax Expense (Benefit) | The current and deferred amounts of income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023 are as follows (in thousands):
| Years ended December 31,
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | 54,892 |  |  | 30,510 |  |  | 31,972 |
State | 37,644 |  |  | 15,851 |  |  | 12,684 |
Total current income tax expense | 92,536 |  |  | 46,361 |  |  | 44,656 |
Deferred: |  |  |  |  |
Federal | 15,075 |  |  | (1,406) |  |  | 905 |
State | 9,386 |  |  | (10,865) |  |  | 1,820 |
Total deferred income tax expense | 24,461 |  |  | (12,271) |  |  | 2,725 |
Total income tax expense | $ | 116,997 |  |  | 34,090 |  |  | 47,381 |
Schedule of Reconciliation between Amount Reported and Amount Computed for Income Tax Expense and Income Tax Rate | A reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate is as follows for the year ended December 31, 2025 (in thousands):
| Years ended December 31,
| 2025 | %
Tax expense at statutory rates | $ | 85,713 |  | 21.00 | %
Increase (decrease) in taxes resulting from: |  |
State tax, net of federal income tax benefit (1) | 37,153 |  | 9.10 |
Rate Change | — |  | — |
Tax-exempt interest income, net | (2,760) |  | (0.68) |
Bank-owned life insurance | (2,127) |  | (0.52) |
Renewable energy tax credits, net | (3,380) |  | (0.83) |
Other, net | 2,398 |  | 0.59 |
Total income tax expense | $ | 116,997 |  | 28.66 | %
(1) State and local income taxes in New Jersey comprise the majority of the domestic state and local income taxes, net of federal effect category. Additionally, a reconciliation between the amount of reported total income tax expense and the amount computed by multiplying the applicable statutory income tax rate is as follows for the years ended December 31, 2024 and 2023 (in thousands):
| 2024 |  | 2023
Tax expense at statutory rates | $ | 31,419 |  |  | 36,932 |
Increase (decrease) in taxes resulting from: |  |  |
State tax, net of Federal income tax benefit | 11,027 |  |  | 11,313 |
Rate Change | (7,008) |  |  | — |
Tax-exempt interest income | (2,861) |  |  | (2,514) |
Bank-owned life insurance | (2,459) |  |  | (1,361) |
Other, net | 3,972 |  |  | 3,011 |
Total income tax expense | $ | 34,090 |  |  | 47,381 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2025 and 2024 are as follows (in thousands):
| 2025 |  | 2024
Deferred tax assets: |  |  |
Allowance for credit losses on loans | $ | 51,650 |  |  | 54,931 |
Allowance for credit loss on off-balance sheet ("OBS") credit exposure | 1,915 |  |  | 1,998 |
Post-retirement benefit | 4,534 |  |  | 5,485 |
Deferred compensation | 3,420 |  |  | 2,926 |
Purchase accounting adjustments | 54,228 |  |  | 105,950 |
Depreciation | 5,661 |  |  | 4,836 |
SERP | 1,146 |  |  | 1,991 |
Accrued Bonus | 5,569 |  |  | — |
Stock-based compensation | 3,143 |  |  | 3,694 |
Non-accrual interest | 674 |  |  | 807 |
State Net Operating Loss ("NOL") | 9,018 |  |  | 2,268 |
Federal NOL | 15,855 |  |  | 1,389 |
Capital Loss Carryforward | 600 |  |  | — |
Unrealized losses on available for sale debt securities | 28,531 |  |  | 66,646 |
Net unrealized loss on hedging activities | 625 |  |  | — |
Lease liability | 17,086 |  |  | 18,489 |
Other | 4,678 |  |  | 4,666 |
Total gross deferred tax assets | 208,333 |  |  | 276,076 |
Deferred tax liabilities: |  |  |
Pension expense | 10,608 |  |  | 10,161 |
Contingent consideration | 560 |  |  | 436 |
Deferred loan costs | 11,651 |  |  | 17,668 |
Investment securities, principally due to accretion of discounts | 101 |  |  | 71 |
Intangibles | 2,479 |  |  | 2,151 |
Originated mortgage servicing rights | 111 |  |  | 129 |
Pension liability adjustments | 1,191 |  |  | 2,546 |
Net unrealized gain on hedging activities | — |  |  | 1,641 |
Lease right-of-use asset | 16,196 |  |  | 17,648 |
Total gross deferred tax liabilities | 42,897 |  |  | 52,451 |
Net deferred tax asset | $ | 165,436 |  |  | 223,625 |
Schedule of Components of Income Taxes Paid (Net of Refunds) | The components of income taxes paid (net of refunds) disaggregated by federal and state as of December 31, 2025 are as follows (in thousands):
| Years ended December 31,
| 2025
US federal (1) | $ | 66,997 |
US state and local: |
New Jersey | 26,845 |
New York State | 5,221 |
New York City | 3,037 |
Other | 550 |
Total | $ | 102,650 |
(1) The US federal amount of income taxes paid during the 2025 includes the net cost of the transferrable tax credits.

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