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DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Estimated Fair Values of Financial Instruments

The estimated fair values of Customers’ financial instruments at June 30, 2025 and December 31, 2024 were as follows:

															Fair Value Measurements at June 30, 2025
(amounts in thousands)			Carrying Amount						Estimated Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents			$	3,503,511					$	3,503,511					$	3,503,511					$	—					$	—
Debt securities, available for sale			1,846,566						1,846,566						—						1,617,868						228,698
Debt securities, held to maturity			853,126						794,435						—						443,000						351,435
Loans held for sale			32,963						32,963						—						5,180						27,783
Total loans and leases receivable, net of allowance for credit losses on loans and leases			15,232,019						14,954,795						—						1,536,254						13,418,541
FHLB, Federal Reserve Bank, and other restricted stock			100,590						100,590						—						100,590						—
Derivatives			13,611						13,611						—						13,515						96
Liabilities:
Deposits			$	18,976,018					$	18,996,060					$	15,975,492					$	3,020,568					$	—
FHLB advances			1,195,377						1,194,067						—						1,194,067						—
Other borrowings			99,138						82,000						—						82,000						—
Subordinated debt			182,649						168,868						—						168,868						—
Derivatives			18,824						18,824						—						18,824						—

															Fair Value Measurements at December 31, 2024
(amounts in thousands)			Carrying Amount						Estimated Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents			$	3,785,931					$	3,785,931					$	3,785,931					$	—					$	—
Debt securities, available for sale			1,985,438						1,985,438						—						1,972,202						13,236
Debt securities, held to maturity			991,937						934,677						—						461,307						473,370
Loans held for sale			204,794						204,794						—						1,836						202,958
Total loans and leases receivable, net of allowance for credit losses on loans and leases			14,311,987						14,104,884						—						1,321,128						12,783,756
FHLB, Federal Reserve Bank, and other restricted stock			96,214						96,214						—						96,214						—
Derivatives			15,263						15,263						—						15,223						40
Liabilities:
Deposits			$	18,846,461					$	18,842,810					$	16,138,256					$	2,704,554					$	—
FHLB advances			1,128,352						1,103,324						—						1,103,324						—
Other borrowings			99,068						88,000						—						88,000						—
Subordinated debt			182,509						167,601						—						167,601						—
Derivatives			22,570						22,570						—						22,570						—

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis

For financial assets and liabilities measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2025 and December 31, 2024 were as follows:

			June 30, 2025
			Fair Value Measurements at the End of the Reporting Period Using
(amounts in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
Measured at Fair Value on a Recurring Basis:
Assets
Available for sale debt securities:
Asset-backed securities			$	—					$	—					$	228,698					$	228,698
Agency-guaranteed residential mortgage-backed securities			—						454,631						—						454,631
Agency-guaranteed residential collateralized mortgage obligations			—						327,338						—						327,338
Agency-guaranteed commercial collateralized mortgage obligations			—						94,731						—						94,731
Collateralized loan obligations			—						10,552						—						10,552
Corporate notes			—						366,210						—						366,210
Private label collateralized mortgage obligations			—						364,406						—						364,406
Derivatives			—						13,515						96						13,611
Loans held for sale – fair value option			—						5,180						27,783						32,963
Loans receivable, mortgage finance – fair value option			—						1,536,254						—						1,536,254
Loans receivable, installment – fair value option			—						—						123,354						123,354
Total assets – recurring fair value measurements			$	—					$	3,172,817					$	379,931					$	3,552,748
Liabilities
Derivatives			$	—					$	18,824					$	—					$	18,824
Measured at Fair Value on a Nonrecurring Basis:
Assets
Collateral-dependent loans			$	—					$	—					$	5,490					$	5,490
Other real estate owned			—						—						12,306						12,306
Total assets – nonrecurring fair value measurements			$	—					$	—					$	17,796					$	17,796

			December 31, 2024
			Fair Value Measurements at the End of the Reporting Period Using
(amounts in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
Measured at Fair Value on a Recurring Basis:
Assets
Available for sale debt securities:
Asset-backed securities			$	—					$	—					$	13,236					$	13,236
Agency-guaranteed residential mortgage–backed securities			—						327,038						—						327,038
Agency-guaranteed residential collateralized mortgage obligations			—						226,746						—						226,746
Agency-guaranteed commercial collateralized mortgage obligations			—						93,075						—						93,075
Collateralized loan obligations			—						255,407						—						255,407
Commercial mortgage-backed securities			—						77,708						—						77,708
Corporate notes			—						516,330						—						516,330
Private label collateralized mortgage obligations			—						475,898						—						475,898
Derivatives			—						15,223						40						15,263
Loans held for sale – fair value option			—						1,836						162,055						163,891
Loans receivable, mortgage finance – fair value option			—						1,321,128						—						1,321,128
Total assets – recurring fair value measurements			$	—					$	3,310,389					$	175,331					$	3,485,720
Liabilities
Derivatives			$	—					$	22,570					$	—					$	22,570
Measured at Fair Value on a Nonrecurring Basis:
Assets
Collateral-dependent loans			$	—					$	—					$	18,048					$	18,048
Total assets – nonrecurring fair value measurements			$	—					$	—					$	18,048					$	18,048

Statement of Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis

The changes in asset-backed securities (Level 3 assets) measured at fair value on a recurring basis for the three and six months ended June 30, 2025 and 2024 are summarized in the tables below:

			Asset-backed securities
(amounts in thousands)			Three Months Ended June 30,
			2025						2024
Balance at April 1			$	168,475					$	28,263
Purchases			78,429						—
Principal payments and premium amortization			(17,922)						(6,834)
Increase in allowance for credit losses			(400)						—
Decrease in allowance for credit losses			169						83
Change in fair value recognized in OCI			(53)						350
Balance at June 30			$	228,698					$	21,862

			Asset-backed securities
(amounts in thousands)			Six Months Ended June 30,
			2025						2024
Balance at January 1			$	13,236					$	34,949
Purchases			236,256						—
Principal payments and premium amortization			(20,999)						(13,948)
Increase in allowance for credit losses			(466)						—
Decrease in allowance for credit losses			244						116
Change in fair value recognized in OCI			427						745
Balance at June 30			$	228,698					$	21,862

The changes in other installment loans (Level 3 assets) classified as held for sale and held for investment, and measured at fair value on a recurring basis, based on an election made to account for the loans at fair value for the three and six months ended June 30, 2025 and 2024 are summarized in the tables below:

			Other Installment Loans
(amounts in thousands)			Three Months Ended June 30,
			2025						2024
Balance at April 1			$	138,224					$	219,015
Originations			1,625						245,025
Sales			(357)						(160,015)
Principal payments			(18,087)						(56,583)
Change in fair value recognized in earnings			2,050						—
Balance at June 30			$	123,455					$	247,442

			Other Installment Loans
(amounts in thousands)			Six Months Ended June 30,
			2025						2024
Balance at January 1			$	162,055					$	188,062
Originations			195,958						480,456
Sales			(175,921)						(318,230)
Principal payments			(60,687)						(102,846)
Change in fair value recognized in earnings			2,050						—
Balance at June 30			$	123,455					$	247,442

Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis

The following tables summarize financial assets and financial liabilities measured at fair value as of June 30, 2025 and December 31, 2024 on a recurring and nonrecurring basis for which Customers utilized Level 3 inputs to measure fair value. The unobservable Level 3 inputs noted below contain a level of uncertainty that may differ from what is realized in an immediate settlement of the assets. Therefore, Customers may realize a value higher or lower than the current estimated fair value of the assets.

Quantitative Information about Level 3 Fair Value Measurements

(dollars in thousands)

Fair Value Estimate

Valuation Technique

Unobservable Input

Range  (Weighted Average)

June 30, 2025

Asset-backed securities

$

228,698

Discounted cash flow

Discount rate Annualized loss rate Constant prepayment rate

9% - 9% (9%) 2% - 10% (4%) 19% - 20% (19%)

Other real estate owned

12,306

Collateral appraisal (1)

Liquidation expenses (2)

6% - 7% (6%)

Quantitative Information about Level 3 Fair Value Measurements

(dollars in thousands)

Fair Value Estimate

Valuation Technique

Unobservable Input

Range  (Weighted Average)

December 31, 2024

Asset-backed securities

$

13,236

Discounted cash flow

Discount rate Annualized loss rate Constant prepayment rate

9% - 10% (10%) 5% - 10% (7%) 19% - 20% (19%)

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