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Available for Sale Debt Securities (Tables)

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities Available for Sale

The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the fair value for available for sale debt securities as of December 31, 2025 and 2024 (in thousands):

			2025
			Amortized cost						Gross unrealized gains						Gross unrealized losses						Fair value
U.S. Treasury obligations			$	274,500					190						(7,946)						266,744
Government-agency obligations			32,693						877						(31)						33,539
Mortgage-backed securities			2,705,346						23,454						(116,453)						2,612,347
Asset-backed securities			41,619						409						(267)						41,761
State and municipal obligations			119,173						1,249						(7,423)						112,999
Corporate obligations			93,498						5,429						(1,561)						97,366
			$	3,266,829					31,608						(133,681)						3,164,756

			2024
			Amortized cost						Gross unrealized gains						Gross unrealized losses						Fair value
U.S. Treasury obligations			$	348,621					317						(18,340)						330,598
Government-agency obligations			105,965						1,461						(191)						107,235
Mortgage-backed securities			2,243,725						4,982						(186,548)						2,062,159
Asset-backed securities			47,203						645						(285)						47,563
State and municipal obligations			126,766						243						(10,092)						116,917
Corporate obligations			103,415						3958						(2,930)						104,443
			$	2,975,695					11,606						(218,386)						2,768,915

Schedule of Investments Classified by Contractual Maturity Date

The amortized cost and fair value of held to maturity debt securities as of December 31, 2025 by contractual maturity, excluding allowances for credit losses of $16,000, as of December 31, 2025 are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.

			2025
			Amortized cost						Fair value
Due in one year or less			$	45,807					45,712
Due after one year through five years			152,602						151,763
Due after five years through ten years			78,986						73,941
Due after ten years			4,748						3,802
			$	282,143					275,218

The amortized cost and fair value of available for sale debt securities as of December 31, 2025, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.

			2025
			Amortized cost						Fair value
Due in one year or less			$	108,932					107,858
Due after one year through five years			196,488						190,223
Due after five years through ten years			114,951						117,101
Due after ten years			66,801						61,928
			$	487,172					477,110

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table shows gross unrealized losses and estimated fair value of available for sale debt securities, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of December 31, 2025 and 2024 (in thousands):

						December 31, 2025
						Less Than 12 months												12 Months or More												Total
						Fair value						Unrealized Losses						Fair value						Unrealized Losses						Fair value						Unrealized Losses
Available-for-sale:
U.S. Treasury obligations						$	—					—						245,675						(7,946)						245,675						(7,946)
Government-agency obligations						8,541						(31)						—						—						8,541						(31)
Mortgage-backed securities						133,316						(4,119)						984,261						(112,334)						1,117,577						(116,453)
Asset-backed securities						20,493						(129)						1,605						(138)						22,098						(267)
State and municipal obligations						21,613						(665)						53,173						(6,758)						74,786						(7,423)
Corporate obligations						8,994						(6)						18,742						(1,555)						27,736						(1,561)
Total						$	192,957					(4,949)						1,303,456						(128,732)						1,496,412						(133,681)

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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