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Income Taxes (Tables)

12 Months Ended

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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