OceanFirst Financial (OCFC) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 29, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-11713
Entity Registrant Name	OceanFirst Financial Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3412577
Entity Address, Address Line One	110 West Front Street,
Entity Address, City or Town	Red Bank,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07701
City Area Code	732
Local Phone Number	240-4500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,713,469
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001004702
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	OCFC
Security Exchange Name	NASDAQ
Depositary Shares
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares (each representing a 1/40th interest in a share of 7.0% Series A Non-Cumulative, perpetual preferred stock)
Trading Symbol	OCFCP
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 130,422	$ 153,718
Debt securities available-for-sale, at estimated fair value	744,944	753,892
Debt securities held-to-maturity, net of allowance for securities credit losses of $1,058 at March 31, 2024 and $1,133 at December 31, 2023 (estimated fair value of $1,029,965 at March 31, 2024 and $1,068,438 at December 31, 2023)	1,128,666	1,159,735
Equity investments	103,201	100,163
Restricted equity investments, at cost	85,689	93,766
Loans receivable, net of allowance for loan credit losses of $67,173 at March 31, 2024 and $67,137 at December 31, 2023	10,068,209	10,136,721
Loans held-for-sale	4,702	5,166
Interest and dividends receivable	52,502	51,874
Premises and equipment, net	119,211	121,372
Bank owned life insurance	266,615	266,498
Assets held for sale	28	28
Goodwill	506,146	506,146
Core deposit intangible	8,669	9,513
Other assets	199,974	179,661
Total assets	13,418,978	13,538,253
Liabilities and Stockholders’ Equity
Deposits	10,236,851	10,434,949
Federal Home Loan Bank (“FHLB”) advances	658,436	848,636
Securities sold under agreements to repurchase with customers	66,798	73,148
Other borrowings	425,722	196,456
Advances by borrowers for taxes and insurance	28,187	22,407
Other liabilities	337,147	300,712
Total liabilities	11,753,141	11,876,308
Stockholders’ equity:
Preferred stock, $0.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, and 57,370 shares issued at both March 31, 2024 and December 31, 2023	1	1
Common stock, $0.01 par value, 150,000,000 shares authorized, 62,505,408 and 62,182,767 shares issued at March 31, 2024 and December 31, 2023, respectively; and 58,812,498 and 59,447,684 shares outstanding at March 31, 2024 and December 31, 2023, respectively	613	613
Additional paid-in capital	1,163,282	1,161,755
Retained earnings	608,355	592,542
Accumulated other comprehensive loss	(19,415)	(20,862)
Less: Unallocated common stock held by Employee Stock Ownership Plan ("ESOP")	(3,470)	(3,780)
Treasury stock, 3,692,910 and $2,735,083 shares at March 31, 2024 and December 31, 2023, respectively	(84,254)	(69,106)
OceanFirst Financial Corp. stockholders’ equity	1,665,112	1,661,163
Non-controlling interest	725	782
Total stockholders’ equity	1,665,837	1,661,945
Total liabilities and stockholders’ equity	$ 13,418,978	$ 13,538,253

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 1,058	$ 1,133
Securities held-to-maturity, fair value	1,029,965	1,068,438
Allowance for loan credit losses	$ 67,173	$ 67,137
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, liquidation preference, value	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	57,370	57,370
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	62,505,408	62,182,767
Common stock, shares outstanding (in shares)	58,812,498	59,447,684
Treasury stock, shares (in shares)	3,692,910	2,735,083

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income:
Loans	$ 137,121	$ 121,720
Debt securities	19,861	14,286
Equity investments and other	4,620	3,028
Total interest income	161,602	139,034
Interest expense:
Deposits	59,855	21,330
Borrowed funds	15,523	18,902
Total interest expense	75,378	40,232
Net interest income	86,224	98,802
Provision for credit losses	591	3,013
Net interest income after provision for credit losses	85,633	95,789
Other income:
Bankcard services revenue	1,416	1,330
Net gain on sales of loans	357	20
Net gain (loss) on equity investments	1,923	(6,801)
Income from bank owned life insurance	1,862	1,281
Commercial loan swap income	138	701
Other	1,591	(229)
Total other income	12,286	2,073
Operating expenses:
Compensation and employee benefits	32,759	33,920
Occupancy	5,199	5,239
Equipment	1,130	1,205
Marketing	990	982
Federal deposit insurance and regulatory assessments	3,135	1,749
Data processing	5,956	6,154
Check card processing	1,050	1,281
Professional fees	2,732	5,098
Amortization of core deposit intangible	844	1,027
Branch consolidation expense, net	0	70
Merger related expenses	0	22
Other operating expense	4,877	4,562
Total operating expenses	58,672	61,309
Income before provision for income taxes	39,247	36,553
Provision for income taxes	10,637	8,654
Net income	28,610	27,899
Net (loss) income attributable to non-controlling interest	(57)	16
Net income attributable to OceanFirst Financial Corp.	28,667	27,883
Dividends on preferred shares	1,004	1,004
Net income available to common stockholders, basic	27,663	26,879
Net income available to common stockholders, diluted	$ 27,663	$ 26,879
Basic earnings per share (in dollars per share)	$ 0.47	$ 0.46
Diluted earnings per share (in dollars per share)	$ 0.47	$ 0.46
Average basic shares outstanding (in shares)	58,789	58,774
Average diluted shares outstanding (in shares)	58,791	58,918
Trust and asset management revenue
Other income:
Revenue	$ 526	$ 612
Fees and service charges
Other income:
Revenue	$ 4,473	$ 5,159

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28,610	$ 27,899
Other comprehensive income:
Net unrealized gain on debt securities (net of tax expense of $634 in 2024 and $1,766 in 2023)	1,993	5,547
Accretion of unrealized loss on debt securities reclassified to held-to-maturity (net of tax expense of $42 in 2024 and $56 in 2023)	61	79
Unrealized (loss) gain on derivative hedges (net of tax benefit of $302 in 2024 and tax expense of $131 in 2023)	(949)	412
Reclassification adjustment for losses included in net income (net of tax expense of $109 in 2024 and $201 in 2023)	342	629
Total other comprehensive income, net of tax	1,447	6,667
Total comprehensive income	30,057	34,566
Less: comprehensive (loss) income attributable to non-controlling interest	(57)	16
Comprehensive income attributable to OceanFirst Financial Corp.	30,114	34,550
Less: Dividends on preferred shares	1,004	1,004
Total comprehensive income available to common stockholders	$ 29,110	$ 33,546

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Unrealized holding gain (loss), before adjustment, tax expense (benefit)	$ 634	$ 1,766
Other comprehensive income accretion of fair value adjustment on held to maturity securities tax	42	56
Other comprehensive income (loss), cash flow hedge, gain (loss), after reclassification, tax expense (benefit)	(302)	131
Reclassification adjustment from AOCI for sale of securities, tax expense (benefit)	$ 109	$ 201

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Employee Stock Ownership Plan	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Non-Controlling Interest
Beginning balance at Dec. 31, 2022	$ 1,585,464	$ (6,191)	$ 1	$ 612	$ 1,154,821	$ 540,507	$ (35,982)	$ (69,106)	$ 802
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	27,899					27,883			16
Other comprehensive income, net of tax	6,667						6,667
Stock compensation	1,828				1,828
Allocation of ESOP stock	664	603			61
Cash dividend	(11,755)					(11,755)
Exercise of stock options	608			1	1,297	(690)
Preferred stock dividend	(1,004)					(1,004)
Ending balance at Mar. 31, 2023	1,610,371	(5,588)	1	613	1,158,007	554,941	(29,315)	(69,106)	818
Beginning balance at Dec. 31, 2023	1,661,945	(3,780)	1	613	1,161,755	592,542	(20,862)	(69,106)	782
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,610					28,667			(57)
Other comprehensive income, net of tax	1,447						1,447
Stock compensation	1,541				1,541
Allocation of ESOP stock	267	310			(43)
Cash dividend	(11,850)					(11,850)
Repurchase shares of common stock	(15,119)				29			(15,148)
Preferred stock dividend	(1,004)					(1,004)
Ending balance at Mar. 31, 2024	$ 1,665,837	$ (3,470)	$ 1	$ 613	$ 1,163,282	$ 608,355	$ (19,415)	$ (84,254)	$ 725

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividend per share (in dollars per share)	$ 0.20	$ 0.20
Purchase of common stock (in shares)	957,827

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 28,610	$ 27,899
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of premises and equipment	2,869	3,094
Allocation of ESOP stock	267	664
Stock compensation	1,541	1,828
Net excess tax expense on stock compensation	365	250
Amortization of servicing asset	19	15
Net premium amortization in excess of discount accretion on securities	14	1,093
Net amortization of deferred costs on borrowings	152	147
Amortization of core deposit intangible	844	1,027
Net accretion of purchase accounting adjustments	(947)	(1,267)
Net amortization of deferred fees/costs and premiums/discounts on loans	(588)	(138)
Provision for credit losses	591	3,013
Net gain on sale of fixed assets	0	(6)
Net loss on sales of available-for-sale securities	110	697
Net (gain) loss on equity investments	(1,923)	6,801
Net gain on sales of loans	(357)	(20)
Proceeds from sales of residential loans held for sale	30,322	3,881
Residential loans originated for sale	(29,501)	(5,056)
Increase in value of bank owned life insurance	(1,862)	(1,281)
Increase in interest and dividends receivable	(628)	(2,638)
Deferred tax provision (benefit)	1,422	(16)
(Increase) decrease in other assets	(20,997)	23,221
Increase (decrease) in other liabilities	35,789	(38,834)
Total adjustments	17,502	(3,525)
Net cash provided by operating activities	46,112	24,374
Cash flows from investing activities:
Net decrease (increase) in loans receivable	69,501	(120,505)
Purchase of debt securities available-for-sale	(6,628)	(4,287)
Purchase of debt securities held-to-maturity	(1,994)	(55,444)
Purchase of equity investments	(1,282)	(6,736)
Proceeds from maturities and calls of debt securities available-for-sale	5,610	15,500
Proceeds from maturities and calls of debt securities held-to-maturity	9,002	6,980
Proceeds from sales of debt securities available-for-sale	390	1,300
Proceeds from sale of equity investments	0	661
Principal repayments on debt securities available-for-sale	12,491	0
Principal repayments on debt securities held-to-maturity	24,371	24,273
Proceeds from bank owned life insurance	1,745	230
Proceeds from the redemption of restricted equity investments	20,850	58,129
Purchases of restricted equity investments	(12,773)	(64,596)
Purchases of premises and equipment	(680)	(2,153)
Net cash provided by (used in) investing activities	120,603	(146,648)
Cash flows from financing activities:
(Decrease) increase in deposits	(198,053)	317,973
(Decrease) increase in short-term borrowings	(6,373)	1,814
Net (repayment) proceeds from FHLB advances	(190,200)	135,400
Net proceeds from other borrowings	229,000	0
Increase in advances by borrowers for taxes and insurance	5,780	9,793
Exercise of stock options	0	608
Payment of employee taxes withheld from stock awards and phantom stock units	(2,192)	(2,308)
Purchase of treasury stock	(15,119)	0
Dividends paid	(12,854)	(12,759)
Net cash (used in) provided by financing activities	(190,011)	450,521
Net (decrease) increase in cash and due from banks and restricted cash	(23,296)	328,247
Cash and due from banks and restricted cash at beginning of period	153,718	167,986
Supplemental Disclosure of Cash Flow Information:
Cash and due from banks at beginning of period	153,718	167,946
Restricted cash at beginning of period	0	40
Cash and due from banks at end of period	130,422	496,193
Restricted cash at end of period	0	40
Cash and due from banks and restricted cash at end of period	130,422	496,233
Cash paid during the period for:
Interest	62,818	33,914
Income taxes	1,898	1,268
Non-cash activities:
Accretion of unrealized loss on securities reclassified to held-to-maturity	103	135
Net loan charge-offs (recoveries)	349	(47)
Transfer of securities from held-to-maturity to available-for-sale	$ 500	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of: OceanFirst Financial Corp. (the “Company”); its wholly-owned subsidiaries, OceanFirst Bank N.A. (the “Bank”) and OceanFirst Risk Management, Inc.; the Bank’s direct and indirect wholly-owned subsidiaries, OceanFirst REIT Holdings, Inc., OceanFirst Management Corp., OceanFirst Realty Corp., Casaba Real Estate Holdings Corporation, and Country Property Holdings, Inc; and a majority controlling interest in Trident Abstract Title Agency, LLC (“Trident”). All significant intercompany accounts and transactions have been eliminated in consolidation. The interim consolidated financial statements reflect all normal and recurring adjustments, which are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results of operations that may be expected for the full year 2024 or any other period. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and the results of operations for the periods presented. Actual results could differ from these estimates. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following reconciles shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended 2024 2023 Weighted average shares outstanding 59,207 59,291 Less: Unallocated ESOP shares (189) (302) Unallocated incentive award shares (229) (215) Average basic shares outstanding 58,789 58,774 Add: Effect of dilutive securities: Incentive awards 2 144 Average diluted shares outstanding 58,791 58,918 For the three months ended March 31, 2024 and 2023, antidilutive stock options of 1,801,000 and 852,000, respectively, were excluded from the earnings per share calculation.

Securities

Securities	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Securities	Securities The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at March 31, 2024 and December 31, 2023 are as follows (in thousands): Amortized Cost (1) Gross Gross Estimated Allowance for Securities Credit Losses At March 31, 2024 Debt securities available-for-sale: U.S. government and agency obligations $ 65,818 $ — $ (6,166) $ 59,652 $ — Corporate debt securities 11,831 17 (1,178) 10,670 — Asset-backed securities 289,632 113 (1,619) 288,126 — Mortgage-backed securities (“MBS”): Agency residential 291,759 1,460 (12) 293,207 — Agency commercial 109,352 — (16,063) 93,289 — Total mortgage-backed securities 401,111 1,460 (16,075) 386,496 — Total debt securities available-for-sale $ 768,392 $ 1,590 $ (25,038) $ 744,944 $ — Debt securities held-to-maturity: State and municipal debt obligations $ 213,231 $ 188 $ (15,535) $ 197,884 $ (36) Corporate debt securities 66,583 192 (3,543) 63,232 (916) Mortgage-backed securities: Agency residential 747,094 178 (75,407) 671,865 — Agency commercial 82,208 2 (4,312) 77,898 — Non-agency commercial 20,608 — (1,522) 19,086 (106) Total mortgage-backed securities 849,910 180 (81,241) 768,849 (106) Total debt securities held-to-maturity $ 1,129,724 $ 560 $ (100,319) $ 1,029,965 $ (1,058) Total debt securities $ 1,898,116 $ 2,150 $ (125,357) $ 1,774,909 $ (1,058) At December 31, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 66,490 $ — $ (5,796) $ 60,694 $ — Corporate debt securities 10,096 11 (981) 9,126 — Asset-backed securities 295,796 — (4,252) 291,544 — Mortgage-backed securities: Agency residential 298,107 183 (97) 298,193 — Agency commercial 109,590 — (15,255) 94,335 — Total mortgage-backed securities 407,697 183 (15,352) 392,528 — Total debt securities available-for-sale $ 780,079 $ 194 $ (26,381) $ 753,892 $ — Debt securities held-to-maturity: State, municipal, and sovereign debt obligations $ 222,009 $ 251 $ (14,550) $ 207,710 $ (39) Corporate debt securities 69,809 391 (3,941) 66,259 (987) Mortgage-backed securities: Agency residential 765,632 901 (70,040) 696,493 — Agency commercial 82,734 10 (3,678) 79,066 — Non-agency commercial 20,684 — (1,774) 18,910 (107) Total mortgage-backed securities 869,050 911 (75,492) 794,469 (107) Total debt securities held-to-maturity $ 1,160,868 $ 1,553 $ (93,983) $ 1,068,438 $ (1,133) Total debt securities $ 1,940,947 $ 1,747 $ (120,364) $ 1,822,330 $ (1,133) The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended March 31, 2024 2023 Allowance for securities credit losses Beginning balance $ (1,133) $ (1,128) Benefit for credit losses 75 85 Total ending allowance balance $ (1,058) $ (1,043) The Company monitors the credit quality of debt securities held-to-maturity on a quarterly basis through the use of internal credit analysis supplemented by external credit ratings. Credit ratings of BBB- or Baa3 or higher are considered investment grade. Where multiple ratings are available, the Company considers the lowest rating when determining the allowance for securities credit losses. Under this approach, the amortized cost of debt securities held-to-maturity at March 31, 2024, aggregated by credit quality indicator, are as follows (in thousands): Investment Grade Non-Investment Grade/Non-rated Total As of March 31, 2024 State and municipal debt obligations $ 213,231 $ — $ 213,231 Corporate debt securities 53,047 13,536 66,583 Non-agency commercial MBS 20,608 — 20,608 Total debt securities held-to-maturity $ 286,886 $ 13,536 $ 300,422 There were $110,000 and $697,000 of realized losses on sale of debt securities available-for-sale for the three months ended March 31, 2024 and 2023, respectively. These realized gains/losses on debt securities are presented within Other under Total other income of the Consolidated Statements of Income. The amortized cost and estimated fair value of debt securities at March 31, 2024 by contractual maturity are shown below (in thousands): March 31, 2024 Amortized Estimated Less than one year $ 32,582 $ 32,182 Due after one year through five years 194,788 180,665 Due after five years through ten years 194,267 189,112 Due after ten years 225,458 217,605 $ 647,095 $ 619,564 Actual maturities may differ from contractual maturities in instances where issuers have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2024, corporate debt securities, state and municipal obligations, and asset-backed securities with an amortized cost of $77.4 million, $60.8 million, and $289.6 million, respectively, and an estimated fair value of $72.9 million, $59.0 million, and $288.1 million, respectively, were callable prior to the maturity date. Mortgage-backed securities are excluded from the above table since their effective lives are expected to be shorter than the contractual maturity date due to principal prepayments. The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at March 31, 2024 and December 31, 2023, segregated by the duration of the unrealized losses, are as follows (in thousands): Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized At March 31, 2024 Debt securities available-for-sale: U.S. government and agency obligations $ 5,383 $ (14) $ 54,269 $ (6,152) $ 59,652 $ (6,166) Corporate debt securities 1,432 (25) 7,496 (1,153) 8,928 (1,178) Asset-backed securities 9,291 (9) 216,864 (1,610) 226,155 (1,619) MBS: Agency residential 23,921 (12) — — 23,921 (12) Agency commercial — — 93,289 (16,063) 93,289 (16,063) Total MBS 23,921 (12) 93,289 (16,063) 117,210 (16,075) Total debt securities available-for-sale 40,027 (60) 371,918 (24,978) 411,945 (25,038) Debt securities held-to-maturity: State and municipal debt obligations 2,675 (30) 185,307 (15,505) 187,982 (15,535) Corporate debt securities 2,996 (568) 57,739 (2,975) 60,735 (3,543) MBS: Agency residential 104,295 (1,702) 530,150 (73,705) 634,445 (75,407) Agency commercial 19,736 (440) 57,153 (3,872) 76,889 (4,312) Non-agency commercial — — 19,086 (1,522) 19,086 (1,522) Total MBS 124,031 (2,142) 606,389 (79,099) 730,420 (81,241) Total debt securities held-to-maturity 129,702 (2,740) 849,435 (97,579) 979,137 (100,319) Total debt securities $ 169,729 $ (2,800) $ 1,221,353 $ (122,557) $ 1,391,082 $ (125,357) At December 31, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 833 $ (2) $ 59,861 $ (5,794) $ 60,694 $ (5,796) Corporate debt securities 1,543 (165) 6,116 (816) 7,659 (981) Asset-backed securities — — 291,544 (4,252) 291,544 (4,252) MBS: Agency residential 169,000 (97) — — 169,000 (97) Agency commercial — — 94,335 (15,255) 94,335 (15,255) Total MBS 169,000 (97) 94,335 (15,255) 263,335 (15,352) Total debt securities available-for-sale 171,376 (264) 451,856 (26,117) 623,232 (26,381) Debt securities held-to-maturity: State and municipal debt obligations 6,671 (23) 191,511 (14,527) 198,182 (14,550) Corporate debt securities 3,084 (473) 58,386 (3,468) 61,470 (3,941) MBS: Agency residential 95,776 (693) 525,751 (69,347) 621,527 (70,040) Agency commercial 18,902 (370) 55,051 (3,308) 73,953 (3,678) Non-agency commercial — — 18,910 (1,774) 18,910 (1,774) Total MBS 114,678 (1,063) 599,712 (74,429) 714,390 (75,492) Total debt securities held-to-maturity 124,433 (1,559) 849,609 (92,424) 974,042 (93,983) Total debt securities $ 295,809 $ (1,823) $ 1,301,465 $ (118,541) $ 1,597,274 $ (120,364) The Company concluded that debt securities were not impaired at March 31, 2024 based on consideration of several factors. The Company noted that each issuer made all contractually due payments when required. There were no defaults on principal or interest payments, and no interest payments were deferred. Based on management’s analysis of each individual security, the issuers appear to have the ability to meet debt service requirements over the life of the security. Furthermore, the net unrealized losses were primarily due to changes in the general credit and interest rate environment and not credit quality. Additionally, the Company has not utilized securities sales as a source of liquidity and the Company’s liquidity plans include adequate sources of liquidity outside securities sales. Equity Investments At March 31, 2024 and December 31, 2023, the Company held equity investments of $103.2 million and $100.2 million, respectively. The equity investments are primarily comprised of select financial services institutions’ preferred stocks, investments in other financial institutions and funds. The realized and unrealized gains or losses on equity securities for the three months ended March 31, 2024 and 2023 are shown in the table below (in thousands): Three Months Ended March 31, 2024 2023 Net gain (loss) on equity investments $ 1,923 $ (6,801) Less: Net losses recognized on equity investments sold — (4,608) Unrealized gains (losses) recognized on equity investments still held $ 1,923 $ (2,193)

Loans Receivable, Net

Loans Receivable, Net	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Loans Receivable, Net	Loans Receivable, Net Loans receivable, net at March 31, 2024 and December 31, 2023 consisted of the following (in thousands): March 31, December 31, 2024 2023 Commercial: Commercial real estate – investor $ 5,322,755 $ 5,353,974 Commercial real estate – owner occupied 914,582 943,891 Commercial and industrial 677,176 666,532 Total commercial 6,914,513 6,964,397 Consumer: Residential real estate 2,965,276 2,979,534 Home equity loans and lines and other consumer (“other consumer”) 245,859 250,664 Total consumer 3,211,135 3,230,198 Total loans receivable 10,125,648 10,194,595 Deferred origination costs, net of fees 9,734 9,263 Allowance for loan credit losses (67,173) (67,137) Total loans receivable, net $ 10,068,209 $ 10,136,721 The Company categorizes all loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company evaluates risk ratings on an ongoing basis. The Company uses the following definitions for risk ratings: Pass : Loans classified as Pass are well protected by the paying capacity and net worth of the borrower. Special Mention : Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date. Substandard : Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the collection or the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful : Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The following tables summarize total loans by year of origination, internally assigned credit grades and risk characteristics (in thousands): 2024 2023 2022 2021 2020 2019 and prior Revolving lines of credit Total March 31, 2024 Commercial real estate - investor Pass $ 48,428 $ 136,697 $ 1,170,068 $ 1,327,264 $ 525,806 $ 1,352,769 $ 644,938 $ 5,205,970 Special Mention — — — 2,389 — 42,787 12,695 57,871 Substandard — — — 595 4,535 53,784 — 58,914 Total commercial real estate - investor 48,428 136,697 1,170,068 1,330,248 530,341 1,449,340 657,633 5,322,755 Commercial real estate - owner occupied Pass 12,333 65,173 116,684 98,566 57,582 513,115 23,133 886,586 Special Mention — — — — — 8,705 — 8,705 Substandard — — — — — 18,672 619 19,291 Total commercial real estate - owner occupied 12,333 65,173 116,684 98,566 57,582 540,492 23,752 914,582 Commercial and industrial Pass 12,487 122,952 65,864 18,212 7,671 55,600 377,278 660,064 Special Mention — — — — — 170 2,239 2,409 Substandard — — 589 69 — 1,217 12,828 14,703 Total commercial and industrial 12,487 122,952 66,453 18,281 7,671 56,987 392,345 677,176 Residential real estate (1) Pass 43,812 279,313 904,132 555,218 378,827 800,232 — 2,961,534 Special Mention — — — — — — — — Substandard — 869 — 220 732 1,921 — 3,742 Total residential real estate 43,812 280,182 904,132 555,438 379,559 802,153 — 2,965,276 Other consumer (1) Pass 5,247 31,232 19,401 20,089 12,440 126,222 29,339 243,970 Special Mention — — — — — 298 — 298 Substandard — — — — — 1,591 — 1,591 Total other consumer 5,247 31,232 19,401 20,089 12,440 128,111 29,339 245,859 Total loans $ 122,307 $ 636,236 $ 2,276,738 $ 2,022,622 $ 987,593 $ 2,977,083 $ 1,103,069 $ 10,125,648 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. 2023 2022 2021 2020 2019 2018 and prior Revolving lines of credit Total December 31, 2023 Commercial real estate - investor Pass $ 137,028 $ 1,165,955 $ 1,328,012 $ 529,745 $ 490,438 $ 930,337 $ 679,804 $ 5,261,319 Special Mention — — 2,413 790 1,446 22,147 — 26,796 Substandard — — 648 3,750 13,275 48,186 — 65,859 Total commercial real estate - investor 137,028 1,165,955 1,331,073 534,285 505,159 1,000,670 679,804 5,353,974 Commercial real estate - owner occupied Pass 66,642 120,280 103,104 59,179 102,703 441,713 21,052 914,673 Special Mention — — — — 1,272 8,314 — 9,586 Substandard — — — — 2,019 16,900 713 19,632 Total commercial real estate - owner occupied 66,642 120,280 103,104 59,179 105,994 466,927 21,765 943,891 Commercial and industrial Pass 112,914 64,770 19,473 8,645 7,778 51,082 383,013 647,675 Special Mention — — — — — 184 2,859 3,043 Substandard — 622 117 — 145 1,385 13,545 15,814 Total commercial and industrial 112,914 65,392 19,590 8,645 7,923 52,651 399,417 666,532 Residential real estate (1) Pass 283,296 916,153 564,515 388,392 223,247 600,118 — 2,975,721 Special Mention — — — — 131 271 — 402 Substandard 323 366 — 258 487 1,977 — 3,411 Total residential real estate 283,619 916,519 564,515 388,650 223,865 602,366 — 2,979,534 Other consumer (1) Pass 32,859 19,918 20,737 12,675 12,937 118,486 30,658 248,270 Special Mention — 172 — — — 386 — 558 Substandard — — — — 6 1,698 132 1,836 Total other consumer 32,859 20,090 20,737 12,675 12,943 120,570 30,790 250,664 Total loans $ 633,062 $ 2,288,236 $ 2,039,019 $ 1,003,434 $ 855,884 $ 2,243,184 $ 1,131,776 $ 10,194,595 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. An analysis of the allowance for credit losses on loans for the three months ended March 31, 2024 and 2023 was as follows (in thousands): Commercial Commercial Commercial Residential Other Consumer Total For the three months ended March 31, 2024 Allowance for credit losses on loans Balance at beginning of period $ 27,899 $ 4,354 $ 6,867 $ 27,029 $ 988 $ 67,137 (Benefit) provision for credit losses (865) (107) 769 9 579 385 Charge-offs (1) (46) — — — (395) (441) Recoveries 2 4 5 66 15 92 Balance at end of period $ 26,990 $ 4,251 $ 7,641 $ 27,104 $ 1,187 $ 67,173 For the three months ended March 31, 2023 Allowance for credit losses on loans Balance at beginning of period $ 21,070 $ 4,423 $ 5,695 $ 24,530 $ 1,106 $ 56,824 Provision (benefit) for credit losses 1,379 (304) 131 2,390 (272) 3,324 Charge-offs (1) — (6) (3) — (1) (10) Recoveries 2 3 4 8 40 57 Balance at end of period $ 22,451 $ 4,116 $ 5,827 $ 26,928 $ 873 $ 60,195 (1) Gross charge-offs for the three months ended March 31, 2024 of $441,000 included one commercial real estate loan of $46,000, which was originated in 2021. The remainder of the charge-offs were related to loans that were originated prior to 2019. Gross charge-offs for the three months ended March 31, 2023 of $10,000 related to loans that were originated prior to 2018. A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral and, therefore, is classified as non-accruing. At March 31, 2024 and December 31, 2023, the Company had collateral dependent loans with an amortized cost balance as follows: commercial real estate - investor of $16.0 million and $15.2 million, respectively, commercial real estate - owner occupied of $3.4 million and $352,000, respectively, and commercial and industrial of $567,000 and $304,000, respectively. In addition, the Company had residential and consumer loans collateralized by residential real estate, which are in the process of foreclosure, with an amortized cost balance of $2.3 million and $2.6 million at March 31, 2024 and December 31, 2023, respectively. The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of March 31, 2024 and December 31, 2023 (in thousands): March 31, December 31, 2024 2023 Commercial real estate – investor (1) $ 21,507 $ 20,820 Commercial real estate – owner occupied 3,355 351 Commercial and industrial 567 304 Residential real estate 7,181 5,542 Other consumer 2,401 2,531 $ 35,011 $ 29,548 (1) At March 31, 2024 and December 31, 2023, non-performing loans included the remaining exposure of $8.8 million on a commercial real estate relationship that was partially charged-off during the year ended December 31, 2023. At March 31, 2024 and December 31, 2023, non-accrual loans were included in the allowance for credit loss calculation and the Company did not recognize or accrue interest income on these loans. At March 31, 2024 and December 31, 2023, there were no loans that were past due 90 days or greater and still accruing interest. The following table presents the aging of the recorded investment in past due loans as of March 31, 2024 and December 31, 2023 by loan portfolio segment (in thousands): 30-59 60-89 90 Days or Greater Past Due Total Loans Not Total March 31, 2024 Commercial real estate – investor (1) $ 4,746 $ — $ 16,004 $ 20,750 $ 5,302,005 $ 5,322,755 Commercial real estate – owner occupied 531 368 318 1,217 913,365 914,582 Commercial and industrial 3 — 567 570 676,606 677,176 Residential real estate 10,793 — 3,742 14,535 2,950,741 2,965,276 Other consumer 795 298 1,591 2,684 243,175 245,859 $ 16,868 $ 666 $ 22,222 $ 39,756 $ 10,085,892 $ 10,125,648 December 31, 2023 Commercial real estate – investor (1) $ 978 $ 684 $ 15,201 $ 16,863 $ 5,337,111 $ 5,353,974 Commercial real estate – owner occupied 335 352 293 980 942,911 943,891 Commercial and industrial 163 — 145 308 666,224 666,532 Residential real estate 14,858 402 3,411 18,671 2,960,863 2,979,534 Other consumer 872 558 1,836 3,266 247,398 250,664 $ 17,206 $ 1,996 $ 20,886 $ 40,088 $ 10,154,507 $ 10,194,595 (1) At March 31, 2024 and December 31, 2023, 90 days or greater past due loans included the remaining exposure of $8.8 million on a commercial real estate relationship that was partially charged-off during the year ended December 31, 2023. Loan Modifications to Borrowers Experiencing Financial Difficulty The Company adopted Accounting Standards Update (“ASU”) 2022-02 on January 1, 2023. Since adoption, the Company has modified and may modify in the future certain loans to borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount, and the allowance for credit losses is subsequently adjusted by an amount equal to the total loss rate as applied to the reduced amortized cost basis. As of March 31, 2024 and December 31, 2023, loans with modifications to borrowers experiencing financial difficulty totaled $12.0 million and $8.9 million, respectively. There were no outstanding commitments to lend additional funds to such borrowers with loan modifications as of March 31, 2024 or December 31, 2023. The following table presents loans modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023 (in thousands): Term Extension Combination of Term Extension and Interest Rate Reduction Other Than Insignificant Payment Delay Total % of Total by Loan Portfolio Segment For the three months ended March 31, 2024 Commercial real estate – owner occupied $ — $ — $ 2,994 $ 2,994 0.33 % Residential real estate 129 — — 129 — Other consumer — 148 — 148 0.06 $ 129 $ 148 $ 2,994 $ 3,271 — % For the three months ended March 31, 2023 Residential real estate $ 435 $ — $ — $ 435 0.02 % Other consumer 40 — — 40 0.02 $ 475 $ — $ — $ 475 — % The modifications during the periods presented had an insignificant financial effect on the Company. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table provides the performance of loans modified to borrowers experiencing financial difficulty during the twelve months ended March 31, 2024 and since adoption of the standard for March 31, 2023 (in thousands): Current 60 - 89 Days past due 90 Days or Greater past due Total March 31, 2024 Commercial real estate – investor $ 7,758 $ — $ — $ 7,758 Commercial real estate – owner occupied 2,994 — — 2,994 Residential real estate 258 — 153 (1) 411 Other consumer 419 — — 419 $ 11,429 $ — $ 153 $ 11,582 March 31, 2023 Residential real estate $ 297 $ 138 $ — $ 435 Other consumer 40 — — 40 $ 337 $ 138 $ — $ 475

Deposits

Deposits	3 Months Ended
	Mar. 31, 2024
Banking and Thrift, Other Disclosure [Abstract]
Deposits	Deposits The major types of deposits at March 31, 2024 and December 31, 2023 were as follows (in thousands): Type of Account March 31, December 31, 2024 2023 Non-interest-bearing $ 1,639,828 $ 1,657,119 Interest-bearing checking 3,865,699 3,911,766 Money market deposit 1,150,979 1,021,805 Savings 1,260,309 1,398,837 Time deposits 2,320,036 2,445,422 Total deposits $ 10,236,851 $ 10,434,949 Included in time deposits at March 31, 2024 and December 31, 2023 was $373.9 million and $412.0 million, respectively, of deposits of $250,000 or more. Time deposits also include brokered deposits of $543.4 million and $631.5 million at March 31, 2024 and December 31, 2023, respectively.

Borrowed Funds

Borrowed Funds	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowed Funds	Borrowed Funds Borrowed funds at March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, December 31, 2024 2023 FHLB advances $ 658,436 $ 848,636 Securities sold under agreements to repurchase with customers 66,798 73,148 Other borrowings 425,722 196,456 Total borrowed funds $ 1,150,956 $ 1,118,240 At March 31, 2024, there were $608.6 million of short-term advances and $49.8 million outstanding in overnight borrowings from the FHLB, as compared to $848.6 million and $0 at December 31, 2023, respectively. At March 31, 2024, there were $425.7 million of other borrowings as compared to $196.5 million at December 31, 2023 due to a shift in funding sources from FHLB to other borrowings. Pledged assets The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands): Loans Debt securities Total March 31, 2024 FHLB and FRB $ 7,336,405 $ 1,244,634 $ 8,581,039 Repurchase agreements — 101,526 101,526 Total pledged assets $ 7,336,405 $ 1,346,160 $ 8,682,565 December 31, 2023 FHLB and FRB $ 7,255,671 $ 1,051,558 $ 8,307,229 Repurchase agreements — 103,416 103,416 Total pledged assets $ 7,255,671 $ 1,154,974 $ 8,410,645 The securities pledged, which collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, or to a third-party custodian. The lender, who may sell, loan or otherwise dispose of such securities to other parties in the normal course of their operations, agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The Company uses valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability and developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and developed based on the best information available in the circumstances. In that regard, a fair value hierarchy has been established for valuation inputs that gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means. Level 3 Inputs – Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities. Assets and Liabilities Measured at Fair Value A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis, that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Debt Securities Available-for-Sale Debt securities classified as available-for-sale are reported at fair value. Fair value of U.S. Treasuries are determined using quoted prices in active markets (Level 1). The majority of the other debt securities are determined using inputs other than quoted prices that are based on market observable information (Level 2). Level 2 debt securities are priced through third-party pricing services or security industry sources that actively participate in the buying and selling of securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain debt securities without relying exclusively on quoted prices for the specific securities, but comparing the debt securities to benchmark or comparable debt securities. Equity Investments Equity investments with readily determinable fair value are reported at fair value. Fair value for these investments is primarily determined using a quoted price in an active market or exchange (Level 1) or using inputs other than quoted prices that are based on market observable information (Level 2). Equity investments without readily determinable fair values are carried at cost less impairment, if any, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (measurement alternative). Certain equity investments without readily determinable fair values are measured at net asset value (“NAV”) per share as a practical expedient, which are excluded from the fair value hierarchy levels in the table below. Interest Rate Derivatives The Company’s interest rate swaps and cap contracts are reported at fair value utilizing discounted cash flow models provided by an independent, third-party and observable market data (Level 2). When entering into an interest rate swap or cap contract, the Company is exposed to fair value changes due to interest rate movements, and also the potential nonperformance of the contract counterparty. Loans Individually Measured for Impairment Loans measured for impairment based on the fair value of the underlying collateral are recorded at estimated fair value, less estimated selling costs. Fair value is generally based on independent appraisals (Level 3), which may be adjusted by management for qualitative factors, such as economic factors and estimated liquidation expenses. The following table summarizes financial assets and financial liabilities measured at fair value as of March 31, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: Total Fair Level 1 Level 2 Level 3 March 31, 2024 Items measured on a recurring basis: Debt securities available-for-sale $ 744,944 $ 46,989 $ 697,955 $ — Equity investments 54,788 — 54,788 — Interest rate derivative asset 104,149 — 104,149 — Interest rate derivative liability (105,118) — (105,118) — Items measured on a non-recurring basis: Equity investments (1) (2) 48,413 — — 44,738 Loans measured for impairment based on the fair value of the underlying collateral (3) 22,206 — — 22,206 December 31, 2023 Items measured on a recurring basis: Debt securities available-for-sale $ 753,892 $ 43,036 $ 710,856 $ — Equity investments 53,166 — 53,166 — Interest rate derivative asset 87,776 — 87,776 — Interest rate derivative liability (87,848) — (87,848) — Items measured on a non-recurring basis: Equity investments (1) (2) 46,997 — — 43,576 Loans measured for impairment based on the fair value of the underlying collateral (3) 18,509 — — 18,509 (1) As of March 31, 2024 and December 31, 2023, equity investments of $48.4 million and $47.0 million, respectively, included $44.7 million and $43.6 million, respectively, of equity investments measured under the measurement alternative. This included no unrealized gains or losses for the three months ended March 31, 2024 and the year ended December 31, 2023. (2) As of March 31, 2024 and December 31, 2023, equity investments of $48.4 million and $47.0 million, respectively, included $3.7 million and $3.4 million, respectively, of certain equity investment funds measured at NAV per share (or its equivalent) as a practical expedient to fair value and these equity investments have not been classified in the fair value hierarchy levels. (3) Primarily consists of commercial loans, which are collateral dependent. The range may vary but is generally 0% to 8% on the discount for costs to sell and 0% to 10% on appraisal adjustments. The Company recognizes transfers between levels of the valuation hierarchy at the end of the applicable reporting periods. There were no assets in Level 3 that were recognized at fair value on a recurring basis or transfers into or out of Level 3 for the three months ended March 31, 2024 and 2023. Assets and Liabilities Disclosed at Fair Value A description of the valuation methodologies used for assets and liabilities disclosed at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy is set forth below. Cash and Due from Banks For cash and due from banks, the carrying amount approximates fair value. Debt Securities Held-to-Maturity Debt securities classified as held-to-maturity are carried at amortized cost, as the Company has the positive intent and ability to hold these debt securities to maturity. The Company determines the fair value of the debt securities utilizing Level 2 inputs. Most of the Company’s debt securities are fixed income instruments that are not quoted on an exchange, but are bought and sold in active markets. Prices for these instruments are obtained through third-party pricing vendors or security industry sources that actively participate in the buying and selling of debt securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain debt securities without relying exclusively on quoted prices for the specific debt securities, but comparing the debt securities to benchmark or comparable debt securities. Management’s policy is to obtain and review all available documentation from the third-party pricing service relating to their fair value determinations, including their methodology and summary of inputs. Management reviews this documentation, makes inquiries of the third-party pricing service and decides as to the level of the valuation inputs. Based on the Company’s review of the available documentation from the third-party pricing service, management concluded that Level 2 inputs were utilized for all securities. Restricted Equity Investments The fair value of these investments, which are primarily Federal Home Loan Bank of New York and Federal Reserve Bank stock, is its carrying value since this is the amount for which it could be redeemed. There is no active market for this stock and the Company is required to maintain a minimum investment as stipulated by the respective entities. Loans Receivable and Loans Held-for-Sale Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential real estate, consumer and commercial. Each loan category is further segmented into fixed and adjustable rate interest terms. Fair value of performing and non-performing loans, which is based on an exit price notion, was estimated by discounting the future cash flows, net of estimated prepayments, at market discount rates that reflect the credit and interest rate risk inherent in the loan. Loans held for sale are carried at the lower of unpaid principal balance, net, or estimated fair value on an aggregate basis. Estimated fair value is generally determined based on bid quotations from secondary markets. Deposits Other than Time Deposits The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, and interest-bearing checking accounts and money market accounts is, by definition, equal to the amount payable on demand. The related insensitivity of the majority of these deposits to interest rate changes creates a significant inherent value which is not reflected in the fair value reported. Time Deposits The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Securities Sold Under Agreements to Repurchase with Customers Fair value approximates the carrying amount as these borrowings are payable on demand and the interest rate adjusts monthly. FHLB Advances and Other Borrowings Fair value estimates are based on discounting contractual cash flows using rates which approximate the rates offered for borrowings of similar remaining maturities. The book value and estimated fair value of the Company’s significant financial instruments not recorded at fair value as of March 31, 2024 and December 31, 2023 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: Book Level 1 Level 2 Level 3 March 31, 2024 Financial Assets: Cash and due from banks $ 130,422 $ 130,422 $ — $ — Debt securities held-to-maturity 1,128,666 — 1,029,965 — Restricted equity investments 85,689 — — 85,689 Loans receivable, net and loans held-for-sale 10,072,911 — — 9,486,375 Financial Liabilities: Deposits other than time deposits (1) 7,916,815 — 7,916,815 — Time deposits 2,320,036 — 2,313,553 — FHLB advances and other borrowings 1,084,158 — 1,068,119 — Securities sold under agreements to repurchase with customers 66,798 66,798 — — December 31, 2023 Financial Assets: Cash and due from banks $ 153,718 $ 153,718 $ — $ — Debt securities held-to-maturity 1,159,735 — 1,068,438 — Restricted equity investments 93,766 — — 93,766 Loans receivable, net and loans held-for-sale 10,141,887 — — 9,606,498 Financial Liabilities: Deposits other than time deposits (1) 7,989,527 — 7,989,527 — Time deposits 2,445,422 — 2,421,058 — FHLB advances and other borrowings 1,045,092 — 1,008,351 — Securities sold under agreements to repurchase with customers 73,148 73,148 — — (1) The estimated fair value of non-maturity deposits does not consider any inherent value and represents the amount payable on demand. However, non-maturity deposits do contain significant inherent value to the Company, particularly when overnight funding costs are greater than the deposit costs. Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because a limited market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other significant unobservable inputs. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial assets or liabilities include premises and equipment, bank owned life insurance, deferred tax assets and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company enters into derivative financial instruments which involve, to varying degrees, interest rate and credit risk. The Company manages these risks as part of its asset and liability management process and through credit policies and procedures, seeking to minimize counterparty credit risk by establishing credit limits and collateral agreements. The Company utilizes derivative financial instruments to accommodate the business needs of its customers as well as to economically hedge the exposure that this creates for the Company. Additionally, the Company enters into certain derivative financial instruments to enhance its ability to manage interest rate risk that exists as part of its ongoing business operations. The Company does not use derivative financial instruments for trading purposes. Customer Derivatives – Interest Rate Swaps and Cap Contracts Derivatives Not Designated as Hedging Instruments The Company enters into interest rate swaps that allow commercial loan customers to effectively convert a variable-rate commercial loan agreement to a fixed-rate commercial loan agreement. Under these agreements, the Company enters into a variable-rate loan agreement with a customer in addition to an interest rate swap agreement, which serves to effectively swap the customer’s variable-rate loan into a fixed-rate loan. The Company then enters into a corresponding swap agreement with a third party in order to economically hedge its exposure through the customer agreement. The Company also enters into interest rate cap contracts that enable commercial loan customers to lock in a cap on a variable-rate commercial loan agreement. This feature prevents the loan from repricing to a level that exceeds the cap contract’s specified interest rate, which serves to hedge the risk from rising interest rates. The Company then enters into an offsetting interest rate cap contract with a third party in order to economically hedge its exposure through the customer agreement. These interest rate swaps and cap contracts with both the customers and third parties are not designated as hedges under ASC Topic 815, Derivatives and Hedging, therefore changes in fair value are reported in earnings. As the interest rate swaps and cap contracts are structured to offset each other, changes to the underlying benchmark interest rates considered in the valuation of these instruments do not result in an impact to earnings; however, there may be fair value adjustments related to credit quality variations between counterparties, which may impact earnings as required by ASC Topic 820, Fair Value Measurements. The Company recognized gains of $13,000 and losses of $22,000 in commercial loan swap income resulting from the fair value adjustments for the three months ended March 31, 2024 and 2023, respectively. Derivatives Designated as Hedging Instruments During 2022, the Company entered into a three-year interest rate swap intended to add stability to its net interest income and to manage its exposure to future interest rate movements associated with a pool of floating rate commercial loans. The swap requires the Company to pay variable-rate amounts indexed to one-month term Secured Overnight Financing Rate (“SOFR”) to the counterparty in exchange for the receipt of fixed-rate amounts at 4.0% from the counterparty. The swap was designated and qualified as a cash flow hedge under ASC Topic 815, Derivatives and Hedging. The changes in the fair value of cash flow hedges are initially reported in other comprehensive income. Amounts are subsequently reclassified from accumulated other comprehensive income to earnings when the hedged transactions occur, specifically within the same line item as the hedged item (interest income). Therefore, a portion of the balance reported in accumulated other comprehensive income related to derivatives will be reclassified to interest income as interest payments are made or received on the Company’s interest rate swaps. The table below presents the effect on the Company’s accumulated other comprehensive income/loss (“AOCI” or “AOCL”) attributable to the cash flow hedge derivative, net of tax, and the related gains/(losses) reclassified from AOCI into income (in thousands): Three Months Ended March 31, 2024 2023 AOCL balance at beginning of period, net of tax $ (36) $ (25) Unrealized (losses) gains recognized in OCI (949) 412 Losses reclassified from AOCI into interest income 259 101 (AOCL) AOCI balance at end of period, net of tax $ (726) $ 488 During the twelve months ending March 31, 2025, the Company estimates that an additional $932,000 will be reclassified as a reduction to interest income. The table below presents the notional amount and fair value of derivatives designated and not designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition (in thousands): Notional Fair Value Other assets Other liabilities As of March 31, 2024 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,439,968 $ 104,149 $ 104,161 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 957 Total Derivatives $ 1,539,968 $ 104,149 $ 105,118 As of December 31, 2023 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,418,276 $ 87,776 $ 87,801 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 47 Total Derivatives $ 1,518,276 $ 87,776 $ 87,848 Credit Risk-Related Contingent Features The Company is exposed to credit risk in the event of nonperformance by the interest rate derivative counterparty. The Company minimizes this risk by being a party to International Swaps and Derivatives Association agreements with third-party broker-dealers that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties was $0 at both March 31, 2024 and December 31, 2023. The amount of collateral received from third parties was $106.2 million and $88.3 million at March 31, 2024 and December 31, 2023, respectively. The amount of collateral posted with third parties and received from third parties is deemed to be sufficient to collateralize both the fair market value change as well as any additional amounts that may be required as a result of a change in the specified credit measures. The aggregate fair value of all derivative financial instruments in a liability position with credit measure contingencies and entered into with third parties was $105.1 million and $87.8 million at March 31, 2024 and December 31, 2023, respectively. The interest rate derivatives which the Company executes with the commercial borrowers are collateralized by the borrowers’ commercial real estate financed by the Company.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029. The following table represents the classification of the Company’s Right of Use (“ROU”) assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): March 31, December 31, 2024 2023 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 17,963 $ 18,979 Finance lease ROU asset Premises and equipment, net 1,246 1,304 Total lease ROU assets $ 19,209 $ 20,283 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 19,060 $ 20,018 Finance lease liability Other borrowings 1,620 1,685 Total lease liabilities $ 20,680 $ 21,703 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $5.7 million and $5.9 million at March 31, 2024 and December 31, 2023, respectively. The calculated amount of the ROU assets and lease liabilities are impacted by the lease term and the discount rate used to calculate the present value of the minimum lease payments. Lease agreements often include one or more options to renew the lease at the Company’s discretion. If the exercise of a renewal option is considered to be reasonably certain, the Company includes the extended term in the calculation of the ROU asset and lease liability. For the discount rate, ASC Topic 842, Leases requires the Company to use the rate implicit in the lease, provided the rate is readily determinable. As this rate is not readily determinable, the Company generally utilizes its incremental borrowing rate, at lease inception, over a similar term. For operating leases existing prior to January 1, 2019, the Company used the incremental borrowing rate for the remaining lease term as of January 1, 2019. For the finance lease, the Company utilized its incremental borrowing rate at lease inception. March 31, December 31, 2024 2023 Weighted-Average Remaining Lease Term Operating leases 6.39 years 6.52 years Finance lease 5.35 years 5.60 years Weighted-Average Discount Rate Operating leases 3.03 % 3.02 % Finance lease 5.63 5.63 The following table represents lease expenses and other lease information (in thousands): Three Months Ended March 31, 2024 2023 Lease Expense Operating lease expense $ 1,159 $ 1,145 Finance lease expense: Amortization of ROU assets 58 58 Interest on lease liabilities (1) 23 26 Total $ 1,240 $ 1,229 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,101 $ 1,139 Operating cash flows from finance leases 23 26 Financing cash flows from finance leases 65 61 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income. Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2024 $ 262 $ 3,274 2025 350 4,401 2026 350 3,833 2027 350 2,678 2028 350 1,524 Thereafter 209 5,545 Total 1,871 21,255 Less: Imputed interest (251) (2,195) Total lease liabilities $ 1,620 $ 19,060
Leases	Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029. The following table represents the classification of the Company’s Right of Use (“ROU”) assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): March 31, December 31, 2024 2023 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 17,963 $ 18,979 Finance lease ROU asset Premises and equipment, net 1,246 1,304 Total lease ROU assets $ 19,209 $ 20,283 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 19,060 $ 20,018 Finance lease liability Other borrowings 1,620 1,685 Total lease liabilities $ 20,680 $ 21,703 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $5.7 million and $5.9 million at March 31, 2024 and December 31, 2023, respectively. The calculated amount of the ROU assets and lease liabilities are impacted by the lease term and the discount rate used to calculate the present value of the minimum lease payments. Lease agreements often include one or more options to renew the lease at the Company’s discretion. If the exercise of a renewal option is considered to be reasonably certain, the Company includes the extended term in the calculation of the ROU asset and lease liability. For the discount rate, ASC Topic 842, Leases requires the Company to use the rate implicit in the lease, provided the rate is readily determinable. As this rate is not readily determinable, the Company generally utilizes its incremental borrowing rate, at lease inception, over a similar term. For operating leases existing prior to January 1, 2019, the Company used the incremental borrowing rate for the remaining lease term as of January 1, 2019. For the finance lease, the Company utilized its incremental borrowing rate at lease inception. March 31, December 31, 2024 2023 Weighted-Average Remaining Lease Term Operating leases 6.39 years 6.52 years Finance lease 5.35 years 5.60 years Weighted-Average Discount Rate Operating leases 3.03 % 3.02 % Finance lease 5.63 5.63 The following table represents lease expenses and other lease information (in thousands): Three Months Ended March 31, 2024 2023 Lease Expense Operating lease expense $ 1,159 $ 1,145 Finance lease expense: Amortization of ROU assets 58 58 Interest on lease liabilities (1) 23 26 Total $ 1,240 $ 1,229 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,101 $ 1,139 Operating cash flows from finance leases 23 26 Financing cash flows from finance leases 65 61 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income. Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2024 $ 262 $ 3,274 2025 350 4,401 2026 350 3,833 2027 350 2,678 2028 350 1,524 Thereafter 209 5,545 Total 1,871 21,255 Less: Imputed interest (251) (2,195) Total lease liabilities $ 1,620 $ 19,060

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity	Variable Interest Entity The Company accounts for Trident as a variable interest entity (“VIE”) under ASC 810, Consolidation, for which the Company is considered the primary beneficiary (i.e. the party that has a controlling financial interest). In accordance with ASC 810, Consolidation, the Company has consolidated Trident’s assets and liabilities. The summarized financial information for the Company’s consolidated VIE at March 31, 2024 and December 31, 2023 consisted of the following (in thousands): March 31, 2024 December 31, 2023 Cash and cash equivalents $ 23,365 $ 22,151 Other assets 551 606 Total assets 23,916 22,757 Other liabilities 22,104 20,803 Net assets $ 1,812 $ 1,954

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 28,667	$ 27,883

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The consolidated financial statements include the accounts of: OceanFirst Financial Corp. (the “Company”); its wholly-owned subsidiaries, OceanFirst Bank N.A. (the “Bank”) and OceanFirst Risk Management, Inc.; the Bank’s direct and indirect wholly-owned subsidiaries, OceanFirst REIT Holdings, Inc., OceanFirst Management Corp., OceanFirst Realty Corp., Casaba Real Estate Holdings Corporation, and Country Property Holdings, Inc; and a majority controlling interest in Trident Abstract Title Agency, LLC (“Trident”). All significant intercompany accounts and transactions have been eliminated in consolidation.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Shares Outstanding for Basic and Diluted Earnings Per Share	The following reconciles shares outstanding for basic and diluted earnings per share for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended 2024 2023 Weighted average shares outstanding 59,207 59,291 Less: Unallocated ESOP shares (189) (302) Unallocated incentive award shares (229) (215) Average basic shares outstanding 58,789 58,774 Add: Effect of dilutive securities: Incentive awards 2 144 Average diluted shares outstanding 58,791 58,918

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-Sale and Held-to-Maturity	The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at March 31, 2024 and December 31, 2023 are as follows (in thousands): Amortized Cost (1) Gross Gross Estimated Allowance for Securities Credit Losses At March 31, 2024 Debt securities available-for-sale: U.S. government and agency obligations $ 65,818 $ — $ (6,166) $ 59,652 $ — Corporate debt securities 11,831 17 (1,178) 10,670 — Asset-backed securities 289,632 113 (1,619) 288,126 — Mortgage-backed securities (“MBS”): Agency residential 291,759 1,460 (12) 293,207 — Agency commercial 109,352 — (16,063) 93,289 — Total mortgage-backed securities 401,111 1,460 (16,075) 386,496 — Total debt securities available-for-sale $ 768,392 $ 1,590 $ (25,038) $ 744,944 $ — Debt securities held-to-maturity: State and municipal debt obligations $ 213,231 $ 188 $ (15,535) $ 197,884 $ (36) Corporate debt securities 66,583 192 (3,543) 63,232 (916) Mortgage-backed securities: Agency residential 747,094 178 (75,407) 671,865 — Agency commercial 82,208 2 (4,312) 77,898 — Non-agency commercial 20,608 — (1,522) 19,086 (106) Total mortgage-backed securities 849,910 180 (81,241) 768,849 (106) Total debt securities held-to-maturity $ 1,129,724 $ 560 $ (100,319) $ 1,029,965 $ (1,058) Total debt securities $ 1,898,116 $ 2,150 $ (125,357) $ 1,774,909 $ (1,058) At December 31, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 66,490 $ — $ (5,796) $ 60,694 $ — Corporate debt securities 10,096 11 (981) 9,126 — Asset-backed securities 295,796 — (4,252) 291,544 — Mortgage-backed securities: Agency residential 298,107 183 (97) 298,193 — Agency commercial 109,590 — (15,255) 94,335 — Total mortgage-backed securities 407,697 183 (15,352) 392,528 — Total debt securities available-for-sale $ 780,079 $ 194 $ (26,381) $ 753,892 $ — Debt securities held-to-maturity: State, municipal, and sovereign debt obligations $ 222,009 $ 251 $ (14,550) $ 207,710 $ (39) Corporate debt securities 69,809 391 (3,941) 66,259 (987) Mortgage-backed securities: Agency residential 765,632 901 (70,040) 696,493 — Agency commercial 82,734 10 (3,678) 79,066 — Non-agency commercial 20,684 — (1,774) 18,910 (107) Total mortgage-backed securities 869,050 911 (75,492) 794,469 (107) Total debt securities held-to-maturity $ 1,160,868 $ 1,553 $ (93,983) $ 1,068,438 $ (1,133) Total debt securities $ 1,940,947 $ 1,747 $ (120,364) $ 1,822,330 $ (1,133)
Schedule of Allowance for Credit Losses for Debt Securities Held-to-Maturity	The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended March 31, 2024 and 2023 (in thousands): Three Months Ended March 31, 2024 2023 Allowance for securities credit losses Beginning balance $ (1,133) $ (1,128) Benefit for credit losses 75 85 Total ending allowance balance $ (1,058) $ (1,043)
Schedule of Amortized Cost of Debt Securities Held-to-Maturity, Aggregated by Credit Quality Indicator	Under this approach, the amortized cost of debt securities held-to-maturity at March 31, 2024, aggregated by credit quality indicator, are as follows (in thousands): Investment Grade Non-Investment Grade/Non-rated Total As of March 31, 2024 State and municipal debt obligations $ 213,231 $ — $ 213,231 Corporate debt securities 53,047 13,536 66,583 Non-agency commercial MBS 20,608 — 20,608 Total debt securities held-to-maturity $ 286,886 $ 13,536 $ 300,422
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity	The amortized cost and estimated fair value of debt securities at March 31, 2024 by contractual maturity are shown below (in thousands): March 31, 2024 Amortized Estimated Less than one year $ 32,582 $ 32,182 Due after one year through five years 194,788 180,665 Due after five years through ten years 194,267 189,112 Due after ten years 225,458 217,605 $ 647,095 $ 619,564
Schedule of Estimated Fair Value and Unrealized Losses for Debt Securities Available-for-Sale and Held-to-Maturity	The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at March 31, 2024 and December 31, 2023, segregated by the duration of the unrealized losses, are as follows (in thousands): Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized At March 31, 2024 Debt securities available-for-sale: U.S. government and agency obligations $ 5,383 $ (14) $ 54,269 $ (6,152) $ 59,652 $ (6,166) Corporate debt securities 1,432 (25) 7,496 (1,153) 8,928 (1,178) Asset-backed securities 9,291 (9) 216,864 (1,610) 226,155 (1,619) MBS: Agency residential 23,921 (12) — — 23,921 (12) Agency commercial — — 93,289 (16,063) 93,289 (16,063) Total MBS 23,921 (12) 93,289 (16,063) 117,210 (16,075) Total debt securities available-for-sale 40,027 (60) 371,918 (24,978) 411,945 (25,038) Debt securities held-to-maturity: State and municipal debt obligations 2,675 (30) 185,307 (15,505) 187,982 (15,535) Corporate debt securities 2,996 (568) 57,739 (2,975) 60,735 (3,543) MBS: Agency residential 104,295 (1,702) 530,150 (73,705) 634,445 (75,407) Agency commercial 19,736 (440) 57,153 (3,872) 76,889 (4,312) Non-agency commercial — — 19,086 (1,522) 19,086 (1,522) Total MBS 124,031 (2,142) 606,389 (79,099) 730,420 (81,241) Total debt securities held-to-maturity 129,702 (2,740) 849,435 (97,579) 979,137 (100,319) Total debt securities $ 169,729 $ (2,800) $ 1,221,353 $ (122,557) $ 1,391,082 $ (125,357) At December 31, 2023 Debt securities available-for-sale: U.S. government and agency obligations $ 833 $ (2) $ 59,861 $ (5,794) $ 60,694 $ (5,796) Corporate debt securities 1,543 (165) 6,116 (816) 7,659 (981) Asset-backed securities — — 291,544 (4,252) 291,544 (4,252) MBS: Agency residential 169,000 (97) — — 169,000 (97) Agency commercial — — 94,335 (15,255) 94,335 (15,255) Total MBS 169,000 (97) 94,335 (15,255) 263,335 (15,352) Total debt securities available-for-sale 171,376 (264) 451,856 (26,117) 623,232 (26,381) Debt securities held-to-maturity: State and municipal debt obligations 6,671 (23) 191,511 (14,527) 198,182 (14,550) Corporate debt securities 3,084 (473) 58,386 (3,468) 61,470 (3,941) MBS: Agency residential 95,776 (693) 525,751 (69,347) 621,527 (70,040) Agency commercial 18,902 (370) 55,051 (3,308) 73,953 (3,678) Non-agency commercial — — 18,910 (1,774) 18,910 (1,774) Total MBS 114,678 (1,063) 599,712 (74,429) 714,390 (75,492) Total debt securities held-to-maturity 124,433 (1,559) 849,609 (92,424) 974,042 (93,983) Total debt securities $ 295,809 $ (1,823) $ 1,301,465 $ (118,541) $ 1,597,274 $ (120,364)
Schedule of Realized and Unrealized Gains or Losses on Equity Securities	The realized and unrealized gains or losses on equity securities for the three months ended March 31, 2024 and 2023 are shown in the table below (in thousands): Three Months Ended March 31, 2024 2023 Net gain (loss) on equity investments $ 1,923 $ (6,801) Less: Net losses recognized on equity investments sold — (4,608) Unrealized gains (losses) recognized on equity investments still held $ 1,923 $ (2,193)

Loans Receivable, Net (Tables)

Loans Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Loans Receivable, Net	Loans receivable, net at March 31, 2024 and December 31, 2023 consisted of the following (in thousands): March 31, December 31, 2024 2023 Commercial: Commercial real estate – investor $ 5,322,755 $ 5,353,974 Commercial real estate – owner occupied 914,582 943,891 Commercial and industrial 677,176 666,532 Total commercial 6,914,513 6,964,397 Consumer: Residential real estate 2,965,276 2,979,534 Home equity loans and lines and other consumer (“other consumer”) 245,859 250,664 Total consumer 3,211,135 3,230,198 Total loans receivable 10,125,648 10,194,595 Deferred origination costs, net of fees 9,734 9,263 Allowance for loan credit losses (67,173) (67,137) Total loans receivable, net $ 10,068,209 $ 10,136,721
Schedule of Total Loans by Year of Origination, Internally Assigned Credit Grades and Risk Characteristics	The following tables summarize total loans by year of origination, internally assigned credit grades and risk characteristics (in thousands): 2024 2023 2022 2021 2020 2019 and prior Revolving lines of credit Total March 31, 2024 Commercial real estate - investor Pass $ 48,428 $ 136,697 $ 1,170,068 $ 1,327,264 $ 525,806 $ 1,352,769 $ 644,938 $ 5,205,970 Special Mention — — — 2,389 — 42,787 12,695 57,871 Substandard — — — 595 4,535 53,784 — 58,914 Total commercial real estate - investor 48,428 136,697 1,170,068 1,330,248 530,341 1,449,340 657,633 5,322,755 Commercial real estate - owner occupied Pass 12,333 65,173 116,684 98,566 57,582 513,115 23,133 886,586 Special Mention — — — — — 8,705 — 8,705 Substandard — — — — — 18,672 619 19,291 Total commercial real estate - owner occupied 12,333 65,173 116,684 98,566 57,582 540,492 23,752 914,582 Commercial and industrial Pass 12,487 122,952 65,864 18,212 7,671 55,600 377,278 660,064 Special Mention — — — — — 170 2,239 2,409 Substandard — — 589 69 — 1,217 12,828 14,703 Total commercial and industrial 12,487 122,952 66,453 18,281 7,671 56,987 392,345 677,176 Residential real estate (1) Pass 43,812 279,313 904,132 555,218 378,827 800,232 — 2,961,534 Special Mention — — — — — — — — Substandard — 869 — 220 732 1,921 — 3,742 Total residential real estate 43,812 280,182 904,132 555,438 379,559 802,153 — 2,965,276 Other consumer (1) Pass 5,247 31,232 19,401 20,089 12,440 126,222 29,339 243,970 Special Mention — — — — — 298 — 298 Substandard — — — — — 1,591 — 1,591 Total other consumer 5,247 31,232 19,401 20,089 12,440 128,111 29,339 245,859 Total loans $ 122,307 $ 636,236 $ 2,276,738 $ 2,022,622 $ 987,593 $ 2,977,083 $ 1,103,069 $ 10,125,648 (1) For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. 2023 2022 2021 2020 2019 2018 and prior Revolving lines of credit Total December 31, 2023 Commercial real estate - investor Pass $ 137,028 $ 1,165,955 $ 1,328,012 $ 529,745 $ 490,438 $ 930,337 $ 679,804 $ 5,261,319 Special Mention — — 2,413 790 1,446 22,147 — 26,796 Substandard — — 648 3,750 13,275 48,186 — 65,859 Total commercial real estate - investor 137,028 1,165,955 1,331,073 534,285 505,159 1,000,670 679,804 5,353,974 Commercial real estate - owner occupied Pass 66,642 120,280 103,104 59,179 102,703 441,713 21,052 914,673 Special Mention — — — — 1,272 8,314 — 9,586 Substandard — — — — 2,019 16,900 713 19,632 Total commercial real estate - owner occupied 66,642 120,280 103,104 59,179 105,994 466,927 21,765 943,891 Commercial and industrial Pass 112,914 64,770 19,473 8,645 7,778 51,082 383,013 647,675 Special Mention — — — — — 184 2,859 3,043 Substandard — 622 117 — 145 1,385 13,545 15,814 Total commercial and industrial 112,914 65,392 19,590 8,645 7,923 52,651 399,417 666,532 Residential real estate (1) Pass 283,296 916,153 564,515 388,392 223,247 600,118 — 2,975,721 Special Mention — — — — 131 271 — 402 Substandard 323 366 — 258 487 1,977 — 3,411 Total residential real estate 283,619 916,519 564,515 388,650 223,865 602,366 — 2,979,534 Other consumer (1) Pass 32,859 19,918 20,737 12,675 12,937 118,486 30,658 248,270 Special Mention — 172 — — — 386 — 558 Substandard — — — — 6 1,698 132 1,836 Total other consumer 32,859 20,090 20,737 12,675 12,943 120,570 30,790 250,664 Total loans $ 633,062 $ 2,288,236 $ 2,039,019 $ 1,003,434 $ 855,884 $ 2,243,184 $ 1,131,776 $ 10,194,595 (1)
Schedule of Analysis of Allowance for Credit Losses on Loans	An analysis of the allowance for credit losses on loans for the three months ended March 31, 2024 and 2023 was as follows (in thousands): Commercial Commercial Commercial Residential Other Consumer Total For the three months ended March 31, 2024 Allowance for credit losses on loans Balance at beginning of period $ 27,899 $ 4,354 $ 6,867 $ 27,029 $ 988 $ 67,137 (Benefit) provision for credit losses (865) (107) 769 9 579 385 Charge-offs (1) (46) — — — (395) (441) Recoveries 2 4 5 66 15 92 Balance at end of period $ 26,990 $ 4,251 $ 7,641 $ 27,104 $ 1,187 $ 67,173 For the three months ended March 31, 2023 Allowance for credit losses on loans Balance at beginning of period $ 21,070 $ 4,423 $ 5,695 $ 24,530 $ 1,106 $ 56,824 Provision (benefit) for credit losses 1,379 (304) 131 2,390 (272) 3,324 Charge-offs (1) — (6) (3) — (1) (10) Recoveries 2 3 4 8 40 57 Balance at end of period $ 22,451 $ 4,116 $ 5,827 $ 26,928 $ 873 $ 60,195 (1) Gross charge-offs for the three months ended March 31, 2024 of $441,000 included one commercial real estate loan of $46,000, which was originated in 2021. The remainder of the charge-offs were related to loans that were originated prior to 2019. Gross charge-offs for the three months ended March 31, 2023 of $10,000 related to loans that were originated prior to 2018.
Schedule of Recorded Investment in Non-Accrual Loans, by Loan Portfolio Segment	The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of March 31, 2024 and December 31, 2023 (in thousands): March 31, December 31, 2024 2023 Commercial real estate – investor (1) $ 21,507 $ 20,820 Commercial real estate – owner occupied 3,355 351 Commercial and industrial 567 304 Residential real estate 7,181 5,542 Other consumer 2,401 2,531 $ 35,011 $ 29,548 (1) At March 31, 2024 and December 31, 2023, non-performing loans included the remaining exposure of $8.8 million on a commercial real estate relationship that was partially charged-off during the year ended December 31, 2023.
Schedule of Aging of Recorded Investment in Past Due Loans by Loan Portfolio Segment	The following table presents the aging of the recorded investment in past due loans as of March 31, 2024 and December 31, 2023 by loan portfolio segment (in thousands): 30-59 60-89 90 Days or Greater Past Due Total Loans Not Total March 31, 2024 Commercial real estate – investor (1) $ 4,746 $ — $ 16,004 $ 20,750 $ 5,302,005 $ 5,322,755 Commercial real estate – owner occupied 531 368 318 1,217 913,365 914,582 Commercial and industrial 3 — 567 570 676,606 677,176 Residential real estate 10,793 — 3,742 14,535 2,950,741 2,965,276 Other consumer 795 298 1,591 2,684 243,175 245,859 $ 16,868 $ 666 $ 22,222 $ 39,756 $ 10,085,892 $ 10,125,648 December 31, 2023 Commercial real estate – investor (1) $ 978 $ 684 $ 15,201 $ 16,863 $ 5,337,111 $ 5,353,974 Commercial real estate – owner occupied 335 352 293 980 942,911 943,891 Commercial and industrial 163 — 145 308 666,224 666,532 Residential real estate 14,858 402 3,411 18,671 2,960,863 2,979,534 Other consumer 872 558 1,836 3,266 247,398 250,664 $ 17,206 $ 1,996 $ 20,886 $ 40,088 $ 10,154,507 $ 10,194,595 (1) At March 31, 2024 and December 31, 2023, 90 days or greater past due loans included the remaining exposure of $8.8 million on a commercial real estate relationship that was partially charged-off during the year ended December 31, 2023.
Schedule of Modified and Troubled Debt Restructuring Loans	The following table presents loans modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2024 and 2023 (in thousands): Term Extension Combination of Term Extension and Interest Rate Reduction Other Than Insignificant Payment Delay Total % of Total by Loan Portfolio Segment For the three months ended March 31, 2024 Commercial real estate – owner occupied $ — $ — $ 2,994 $ 2,994 0.33 % Residential real estate 129 — — 129 — Other consumer — 148 — 148 0.06 $ 129 $ 148 $ 2,994 $ 3,271 — % For the three months ended March 31, 2023 Residential real estate $ 435 $ — $ — $ 435 0.02 % Other consumer 40 — — 40 0.02 $ 475 $ — $ — $ 475 — % Current 60 - 89 Days past due 90 Days or Greater past due Total March 31, 2024 Commercial real estate – investor $ 7,758 $ — $ — $ 7,758 Commercial real estate – owner occupied 2,994 — — 2,994 Residential real estate 258 — 153 (1) 411 Other consumer 419 — — 419 $ 11,429 $ — $ 153 $ 11,582 March 31, 2023 Residential real estate $ 297 $ 138 $ — $ 435 Other consumer 40 — — 40 $ 337 $ 138 $ — $ 475

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2024
Banking and Thrift, Other Disclosure [Abstract]
Schedule of Major Types of Deposits	The major types of deposits at March 31, 2024 and December 31, 2023 were as follows (in thousands): Type of Account March 31, December 31, 2024 2023 Non-interest-bearing $ 1,639,828 $ 1,657,119 Interest-bearing checking 3,865,699 3,911,766 Money market deposit 1,150,979 1,021,805 Savings 1,260,309 1,398,837 Time deposits 2,320,036 2,445,422 Total deposits $ 10,236,851 $ 10,434,949

Borrowed Funds (Tables)

Borrowed Funds (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Borrowed Funds	Borrowed funds at March 31, 2024 and December 31, 2023 were as follows (in thousands): March 31, December 31, 2024 2023 FHLB advances $ 658,436 $ 848,636 Securities sold under agreements to repurchase with customers 66,798 73,148 Other borrowings 425,722 196,456 Total borrowed funds $ 1,150,956 $ 1,118,240
Schedule of Pledged Assets	The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands): Loans Debt securities Total March 31, 2024 FHLB and FRB $ 7,336,405 $ 1,244,634 $ 8,581,039 Repurchase agreements — 101,526 101,526 Total pledged assets $ 7,336,405 $ 1,346,160 $ 8,682,565 December 31, 2023 FHLB and FRB $ 7,255,671 $ 1,051,558 $ 8,307,229 Repurchase agreements — 103,416 103,416 Total pledged assets $ 7,255,671 $ 1,154,974 $ 8,410,645

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value	The following table summarizes financial assets and financial liabilities measured at fair value as of March 31, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: Total Fair Level 1 Level 2 Level 3 March 31, 2024 Items measured on a recurring basis: Debt securities available-for-sale $ 744,944 $ 46,989 $ 697,955 $ — Equity investments 54,788 — 54,788 — Interest rate derivative asset 104,149 — 104,149 — Interest rate derivative liability (105,118) — (105,118) — Items measured on a non-recurring basis: Equity investments (1) (2) 48,413 — — 44,738 Loans measured for impairment based on the fair value of the underlying collateral (3) 22,206 — — 22,206 December 31, 2023 Items measured on a recurring basis: Debt securities available-for-sale $ 753,892 $ 43,036 $ 710,856 $ — Equity investments 53,166 — 53,166 — Interest rate derivative asset 87,776 — 87,776 — Interest rate derivative liability (87,848) — (87,848) — Items measured on a non-recurring basis: Equity investments (1) (2) 46,997 — — 43,576 Loans measured for impairment based on the fair value of the underlying collateral (3) 18,509 — — 18,509 (1) As of March 31, 2024 and December 31, 2023, equity investments of $48.4 million and $47.0 million, respectively, included $44.7 million and $43.6 million, respectively, of equity investments measured under the measurement alternative. This included no unrealized gains or losses for the three months ended March 31, 2024 and the year ended December 31, 2023. (2) As of March 31, 2024 and December 31, 2023, equity investments of $48.4 million and $47.0 million, respectively, included $3.7 million and $3.4 million, respectively, of certain equity investment funds measured at NAV per share (or its equivalent) as a practical expedient to fair value and these equity investments have not been classified in the fair value hierarchy levels. (3) Primarily consists of commercial loans, which are collateral dependent. The range may vary but is generally 0% to 8% on the discount for costs to sell and 0% to 10% on appraisal adjustments.
Schedule of Book Value and Estimated Fair Value of Significant Financial Instruments Not Recorded at Fair Value	The book value and estimated fair value of the Company’s significant financial instruments not recorded at fair value as of March 31, 2024 and December 31, 2023 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: Book Level 1 Level 2 Level 3 March 31, 2024 Financial Assets: Cash and due from banks $ 130,422 $ 130,422 $ — $ — Debt securities held-to-maturity 1,128,666 — 1,029,965 — Restricted equity investments 85,689 — — 85,689 Loans receivable, net and loans held-for-sale 10,072,911 — — 9,486,375 Financial Liabilities: Deposits other than time deposits (1) 7,916,815 — 7,916,815 — Time deposits 2,320,036 — 2,313,553 — FHLB advances and other borrowings 1,084,158 — 1,068,119 — Securities sold under agreements to repurchase with customers 66,798 66,798 — — December 31, 2023 Financial Assets: Cash and due from banks $ 153,718 $ 153,718 $ — $ — Debt securities held-to-maturity 1,159,735 — 1,068,438 — Restricted equity investments 93,766 — — 93,766 Loans receivable, net and loans held-for-sale 10,141,887 — — 9,606,498 Financial Liabilities: Deposits other than time deposits (1) 7,989,527 — 7,989,527 — Time deposits 2,445,422 — 2,421,058 — FHLB advances and other borrowings 1,045,092 — 1,008,351 — Securities sold under agreements to repurchase with customers 73,148 73,148 — — (1) The estimated fair value of non-maturity deposits does not consider any inherent value and represents the amount payable on demand. However, non-maturity deposits do contain significant inherent value to the Company, particularly when overnight funding costs are greater than the deposit costs.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Accumulated Other Comprehensive Income/Loss Attributable to Cash Flow Hedge Derivative	The table below presents the effect on the Company’s accumulated other comprehensive income/loss (“AOCI” or “AOCL”) attributable to the cash flow hedge derivative, net of tax, and the related gains/(losses) reclassified from AOCI into income (in thousands): Three Months Ended March 31, 2024 2023 AOCL balance at beginning of period, net of tax $ (36) $ (25) Unrealized (losses) gains recognized in OCI (949) 412 Losses reclassified from AOCI into interest income 259 101 (AOCL) AOCI balance at end of period, net of tax $ (726) $ 488
Schedule of Notional Amount and Fair Value of Derivatives Designated and Not Designated as Hedging Instruments	The table below presents the notional amount and fair value of derivatives designated and not designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition (in thousands): Notional Fair Value Other assets Other liabilities As of March 31, 2024 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,439,968 $ 104,149 $ 104,161 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 957 Total Derivatives $ 1,539,968 $ 104,149 $ 105,118 As of December 31, 2023 Derivatives Not Designated as Hedging Instruments Interest rate swaps and cap contracts $ 1,418,276 $ 87,776 $ 87,801 Derivatives Designated as Cash Flow Hedge Interest rate swap contract 100,000 — 47 Total Derivatives $ 1,518,276 $ 87,776 $ 87,848

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Right-of-Use Assets and Lease Liabilities	The following table represents the classification of the Company’s Right of Use (“ROU”) assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands): March 31, December 31, 2024 2023 Lease ROU Assets Classification Operating lease ROU assets Other assets $ 17,963 $ 18,979 Finance lease ROU asset Premises and equipment, net 1,246 1,304 Total lease ROU assets $ 19,209 $ 20,283 Lease Liabilities Operating lease liabilities (1) Other liabilities $ 19,060 $ 20,018 Finance lease liability Other borrowings 1,620 1,685 Total lease liabilities $ 20,680 $ 21,703 (1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $5.7 million and $5.9 million at March 31, 2024 and December 31, 2023, respectively.
Schedule of Weighted-Average Remaining Lease Term and Discount Rate	March 31, December 31, 2024 2023 Weighted-Average Remaining Lease Term Operating leases 6.39 years 6.52 years Finance lease 5.35 years 5.60 years Weighted-Average Discount Rate Operating leases 3.03 % 3.02 % Finance lease 5.63 5.63
Schedule of Lease Expenses and Other Lease Information	The following table represents lease expenses and other lease information (in thousands): Three Months Ended March 31, 2024 2023 Lease Expense Operating lease expense $ 1,159 $ 1,145 Finance lease expense: Amortization of ROU assets 58 58 Interest on lease liabilities (1) 23 26 Total $ 1,240 $ 1,229 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,101 $ 1,139 Operating cash flows from finance leases 23 26 Financing cash flows from finance leases 65 61 (1) Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income.
Schedule of Future Minimum Payments for Finance Leases	Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2024 $ 262 $ 3,274 2025 350 4,401 2026 350 3,833 2027 350 2,678 2028 350 1,524 Thereafter 209 5,545 Total 1,871 21,255 Less: Imputed interest (251) (2,195) Total lease liabilities $ 1,620 $ 19,060
Schedule of Future Minimum Payments for Operating Leases	Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands): Finance Lease Operating Leases For the Year Ending December 31, 2024 $ 262 $ 3,274 2025 350 4,401 2026 350 3,833 2027 350 2,678 2028 350 1,524 Thereafter 209 5,545 Total 1,871 21,255 Less: Imputed interest (251) (2,195) Total lease liabilities $ 1,620 $ 19,060

Variable Interest Entity (Table

Variable Interest Entity (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Information of Consolidated Variable Interest Entities	The summarized financial information for the Company’s consolidated VIE at March 31, 2024 and December 31, 2023 consisted of the following (in thousands): March 31, 2024 December 31, 2023 Cash and cash equivalents $ 23,365 $ 22,151 Other assets 551 606 Total assets 23,916 22,757 Other liabilities 22,104 20,803 Net assets $ 1,812 $ 1,954

Earnings per Share - Schedule o

Earnings per Share - Schedule of Reconciliation of Shares Outstanding for Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	59,207	59,291
Less: Unallocated ESOP shares (in shares)	(189)	(302)
Unallocated incentive award shares (in shares)	(229)	(215)
Average basic shares outstanding (in shares)	58,789	58,774
Add: Effect of dilutive securities:
Incentive awards (in shares)	2	144
Average diluted shares outstanding (in shares)	58,791	58,918

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive stock options excluded from earnings per share calculations (in shares)	1,801	852

Securities - Schedule of Debt S

Securities - Schedule of Debt Securities, Available-for-Sale and Held-to-Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	$ 768,392	$ 780,079
Available-for-sale, gross unrealized gains	1,590	194
Available-for-sale, gross unrealized losses	(25,038)	(26,381)
Available-for-sale, fair value	744,944	753,892
Allowance for Securities Credit Losses	0	0
Held-to-maturity, amortized cost	1,129,724	1,160,868
Held-to-maturity, gross unrealized gains	560	1,553
Held-to-maturity, gross unrealized losses	(100,319)	(93,983)
Debt securities held-to-maturity	1,029,965	1,068,438
Allowance for Securities Credit Losses	(1,058)	(1,133)	$ (1,043)	$ (1,128)
Total, amortized cost	1,898,116	1,940,947
Total, gross unrealized gains	2,150	1,747
Total, gross unrealized losses	(125,357)	(120,364)
Total, estimated fair value	1,774,909	1,822,330
U.S. government and agency obligations
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	65,818	66,490
Available-for-sale, gross unrealized gains	0	0
Available-for-sale, gross unrealized losses	(6,166)	(5,796)
Available-for-sale, fair value	59,652	60,694
Allowance for Securities Credit Losses	0	0
Corporate debt securities
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	11,831	10,096
Available-for-sale, gross unrealized gains	17	11
Available-for-sale, gross unrealized losses	(1,178)	(981)
Available-for-sale, fair value	10,670	9,126
Allowance for Securities Credit Losses	0	0
Held-to-maturity, amortized cost	66,583	69,809
Held-to-maturity, gross unrealized gains	192	391
Held-to-maturity, gross unrealized losses	(3,543)	(3,941)
Debt securities held-to-maturity	63,232	66,259
Allowance for Securities Credit Losses	(916)	(987)
Asset-backed securities
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	289,632	295,796
Available-for-sale, gross unrealized gains	113	0
Available-for-sale, gross unrealized losses	(1,619)	(4,252)
Available-for-sale, fair value	288,126	291,544
Allowance for Securities Credit Losses	0	0
Agency residential
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	291,759	298,107
Available-for-sale, gross unrealized gains	1,460	183
Available-for-sale, gross unrealized losses	(12)	(97)
Available-for-sale, fair value	293,207	298,193
Allowance for Securities Credit Losses	0	0
Held-to-maturity, amortized cost	747,094	765,632
Held-to-maturity, gross unrealized gains	178	901
Held-to-maturity, gross unrealized losses	(75,407)	(70,040)
Debt securities held-to-maturity	671,865	696,493
Allowance for Securities Credit Losses	0	0
Agency commercial
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	109,352	109,590
Available-for-sale, gross unrealized gains	0	0
Available-for-sale, gross unrealized losses	(16,063)	(15,255)
Available-for-sale, fair value	93,289	94,335
Allowance for Securities Credit Losses	0	0
Held-to-maturity, amortized cost	82,208	82,734
Held-to-maturity, gross unrealized gains	2	10
Held-to-maturity, gross unrealized losses	(4,312)	(3,678)
Debt securities held-to-maturity	77,898	79,066
Allowance for Securities Credit Losses	0	0
State, municipal, and sovereign debt obligations
Securities Financing Transaction [Line Items]
Held-to-maturity, amortized cost	213,231	222,009
Held-to-maturity, gross unrealized gains	188	251
Held-to-maturity, gross unrealized losses	(15,535)	(14,550)
Debt securities held-to-maturity	197,884	207,710
Allowance for Securities Credit Losses	(36)	(39)
Non-agency commercial
Securities Financing Transaction [Line Items]
Held-to-maturity, amortized cost	20,608	20,684
Held-to-maturity, gross unrealized gains	0	0
Held-to-maturity, gross unrealized losses	(1,522)	(1,774)
Debt securities held-to-maturity	19,086	18,910
Allowance for Securities Credit Losses	(106)	(107)
Total mortgage-backed securities
Securities Financing Transaction [Line Items]
Available-for-sale, amortized cost	401,111	407,697
Available-for-sale, gross unrealized gains	1,460	183
Available-for-sale, gross unrealized losses	(16,075)	(15,352)
Available-for-sale, fair value	386,496	392,528
Allowance for Securities Credit Losses	0	0
Held-to-maturity, amortized cost	849,910	869,050
Held-to-maturity, gross unrealized gains	180	911
Held-to-maturity, gross unrealized losses	(81,241)	(75,492)
Debt securities held-to-maturity	768,849	794,469
Allowance for Securities Credit Losses	$ (106)	$ (107)

Securities - Schedule of Allowa

Securities - Schedule of Allowance for Credit Losses for Debt Securities Held-to-Maturity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for securities credit losses
Beginning balance	$ (1,133)	$ (1,128)
Benefit for credit losses	75	85
Total ending allowance balance	$ (1,058)	$ (1,043)

Securities - Schedule of Amorti

Securities - Schedule of Amortized Cost of Debt Securities Held-to-Maturity, Aggregated by Credit Quality Indicator (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	$ 300,422
Investment Grade
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	286,886
Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	13,536
State and municipal debt obligations
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	213,231
State and municipal debt obligations | Investment Grade
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	213,231
State and municipal debt obligations | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	0
Corporate debt securities
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	66,583
Corporate debt securities | Investment Grade
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	53,047
Corporate debt securities | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	13,536
Non-agency commercial MBS
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	20,608
Non-agency commercial MBS | Investment Grade
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	20,608
Non-agency commercial MBS | Non-Investment Grade/Non-rated
Securities Financing Transaction [Line Items]
Amortized cost of debt securities held-to-maturity	$ 0

Securities - Narrative (Details

Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Realized losses	$ 110	$ 697
Equity investments	103,201		$ 100,163
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	77,400
Fair value	72,900
State, municipal, and sovereign debt obligations
Debt Securities, Available-for-sale [Line Items]
Amortized cost	60,800
Fair value	59,000
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	289,600
Fair value	$ 288,100

Securities - Schedule of Amor_2

Securities - Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Amortized Cost
Less than one year	$ 32,582
Due after one year through five years	194,788
Due after five years through ten years	194,267
Due after ten years	225,458
Total amortized cost	647,095
Estimated Fair Value
Less than one year	32,182
Due after one year through five years	180,665
Due after five years through ten years	189,112
Due after ten years	217,605
Total estimated fair value	$ 619,564

Securities - Schedule of Estima

Securities - Schedule of Estimated Fair Value and Unrealized Losses for Debt Securities Available-for-Sale and Held-to-Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	$ 40,027	$ 171,376
Available-for-sale, Less than 12 months, Unrealized Losses	(60)	(264)
Available-for-sale, 12 months or Longer, Estimated Fair Value	371,918	451,856
Available-for-sale, 12 months or longer, Unrealized Losses	(24,978)	(26,117)
Available-for-sale, Total, Estimated Fair Value	411,945	623,232
Available-for-sale, Total, Unrealized Losses	(25,038)	(26,381)
Held-to-maturity, Less than 12 months, Estimated Fair Value	129,702	124,433
Held-to-maturity, Less than 12 months, Unrealized Losses	(2,740)	(1,559)
Held-to-maturity, 12 months or longer, Estimated Fair Value	849,435	849,609
Held-to-maturity, 12 months or longer, Unrealized Losses	(97,579)	(92,424)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	979,137	974,042
Held-to-maturity, total, unrealized losses	(100,319)	(93,983)
Total securities, Less than 12 months, Estimated Fair Value	169,729	295,809
Total securities, Less than 12 months, Unrealized Losses	(2,800)	(1,823)
Total securities, 12 months or longer, Estimated Fair Value	1,221,353	1,301,465
Total securities, 12 months or longer, Unrealized Losses	(122,557)	(118,541)
Total securities, Estimated Fair Value	1,391,082	1,597,274
Total securities, Unrealized Losses	(125,357)	(120,364)
Mortgage-backed securities:
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	23,921	169,000
Available-for-sale, Less than 12 months, Unrealized Losses	(12)	(97)
Available-for-sale, 12 months or Longer, Estimated Fair Value	93,289	94,335
Available-for-sale, 12 months or longer, Unrealized Losses	(16,063)	(15,255)
Available-for-sale, Total, Estimated Fair Value	117,210	263,335
Available-for-sale, Total, Unrealized Losses	(16,075)	(15,352)
Held-to-maturity, Less than 12 months, Estimated Fair Value	124,031	114,678
Held-to-maturity, Less than 12 months, Unrealized Losses	(2,142)	(1,063)
Held-to-maturity, 12 months or longer, Estimated Fair Value	606,389	599,712
Held-to-maturity, 12 months or longer, Unrealized Losses	(79,099)	(74,429)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	730,420	714,390
Held-to-maturity, total, unrealized losses	(81,241)	(75,492)
U.S. government and agency obligations | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	5,383	833
Available-for-sale, Less than 12 months, Unrealized Losses	(14)	(2)
Available-for-sale, 12 months or Longer, Estimated Fair Value	54,269	59,861
Available-for-sale, 12 months or longer, Unrealized Losses	(6,152)	(5,794)
Available-for-sale, Total, Estimated Fair Value	59,652	60,694
Available-for-sale, Total, Unrealized Losses	(6,166)	(5,796)
Corporate debt securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(3,543)	(3,941)
Corporate debt securities | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	1,432	1,543
Available-for-sale, Less than 12 months, Unrealized Losses	(25)	(165)
Available-for-sale, 12 months or Longer, Estimated Fair Value	7,496	6,116
Available-for-sale, 12 months or longer, Unrealized Losses	(1,153)	(816)
Available-for-sale, Total, Estimated Fair Value	8,928	7,659
Available-for-sale, Total, Unrealized Losses	(1,178)	(981)
Held-to-maturity, Less than 12 months, Estimated Fair Value	2,996	3,084
Held-to-maturity, Less than 12 months, Unrealized Losses	(568)	(473)
Held-to-maturity, 12 months or longer, Estimated Fair Value	57,739	58,386
Held-to-maturity, 12 months or longer, Unrealized Losses	(2,975)	(3,468)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	60,735	61,470
Held-to-maturity, total, unrealized losses	(3,543)	(3,941)
Asset-backed securities | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	9,291	0
Available-for-sale, Less than 12 months, Unrealized Losses	(9)	0
Available-for-sale, 12 months or Longer, Estimated Fair Value	216,864	291,544
Available-for-sale, 12 months or longer, Unrealized Losses	(1,610)	(4,252)
Available-for-sale, Total, Estimated Fair Value	226,155	291,544
Available-for-sale, Total, Unrealized Losses	(1,619)	(4,252)
Agency residential
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(75,407)	(70,040)
Agency residential | Mortgage-backed securities:
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	23,921	169,000
Available-for-sale, Less than 12 months, Unrealized Losses	(12)	(97)
Available-for-sale, 12 months or Longer, Estimated Fair Value	0	0
Available-for-sale, 12 months or longer, Unrealized Losses	0	0
Available-for-sale, Total, Estimated Fair Value	23,921	169,000
Available-for-sale, Total, Unrealized Losses	(12)	(97)
Held-to-maturity, Less than 12 months, Estimated Fair Value	104,295	95,776
Held-to-maturity, Less than 12 months, Unrealized Losses	(1,702)	(693)
Held-to-maturity, 12 months or longer, Estimated Fair Value	530,150	525,751
Held-to-maturity, 12 months or longer, Unrealized Losses	(73,705)	(69,347)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	634,445	621,527
Held-to-maturity, total, unrealized losses	(75,407)	(70,040)
Agency commercial
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(4,312)	(3,678)
Agency commercial | Mortgage-backed securities:
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Fair Value	0	0
Available-for-sale, Less than 12 months, Unrealized Losses	0	0
Available-for-sale, 12 months or Longer, Estimated Fair Value	93,289	94,335
Available-for-sale, 12 months or longer, Unrealized Losses	(16,063)	(15,255)
Available-for-sale, Total, Estimated Fair Value	93,289	94,335
Available-for-sale, Total, Unrealized Losses	(16,063)	(15,255)
Held-to-maturity, Less than 12 months, Estimated Fair Value	19,736	18,902
Held-to-maturity, Less than 12 months, Unrealized Losses	(440)	(370)
Held-to-maturity, 12 months or longer, Estimated Fair Value	57,153	55,051
Held-to-maturity, 12 months or longer, Unrealized Losses	(3,872)	(3,308)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	76,889	73,953
Held-to-maturity, total, unrealized losses	(4,312)	(3,678)
Non-agency commercial
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(1,522)	(1,774)
Non-agency commercial | Mortgage-backed securities:
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	0	0
Held-to-maturity, Less than 12 months, Unrealized Losses	0	0
Held-to-maturity, 12 months or longer, Estimated Fair Value	19,086	18,910
Held-to-maturity, 12 months or longer, Unrealized Losses	(1,522)	(1,774)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	19,086	18,910
Held-to-maturity, total, unrealized losses	(1,522)	(1,774)
State, municipal, and sovereign debt obligations
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, total, unrealized losses	(15,535)	(14,550)
State, municipal, and sovereign debt obligations | Investment securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	2,675	6,671
Held-to-maturity, Less than 12 months, Unrealized Losses	(30)	(23)
Held-to-maturity, 12 months or longer, Estimated Fair Value	185,307	191,511
Held-to-maturity, 12 months or longer, Unrealized Losses	(15,505)	(14,527)
Held To Maturity Securities Continuous Unrealized Loss Position Fair Value1	187,982	198,182
Held-to-maturity, total, unrealized losses	$ (15,535)	$ (14,550)

Securities - Schedule of Realiz

Securities - Schedule of Realized and Unrealized Gains or Losses on Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Net gain (loss) on equity investments	$ 1,923	$ (6,801)
Less: Net losses recognized on equity investments sold	0	(4,608)
Unrealized gains (losses) recognized on equity investments still held	$ 1,923	$ (2,193)

Loans Receivable, Net - Schedul

Loans Receivable, Net - Schedule of Loans Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	$ 10,125,648	$ 10,194,595
Deferred origination costs, net of fees	9,734	9,263
Allowance for loan credit losses	(67,173)	(67,137)	$ (60,195)	$ (56,824)
Total loans receivable, net	10,068,209	10,136,721
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	6,914,513	6,964,397
Commercial | Commercial real estate – investor
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	5,322,755	5,353,974
Commercial | Commercial real estate – owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	914,582	943,891
Commercial | Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	677,176	666,532
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	3,211,135	3,230,198
Allowance for loan credit losses	(1,187)	(988)	$ (873)	$ (1,106)
Consumer | Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	2,965,276	2,979,534
Consumer | Home equity loans and lines and other consumer (“other consumer”)
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans receivable	$ 245,859	$ 250,664

Loans Receivable, Net - Sched_2

Loans Receivable, Net - Schedule of Total Loans by Year of Origination, Internally Assigned Credit Grades and Risk Characteristics (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 122,307	$ 633,062
One year before current fiscal year	636,236	2,288,236
Two years before current fiscal year	2,276,738	2,039,019
Three years before current fiscal year	2,022,622	1,003,434
Four years before current fiscal year	987,593	855,884
Five years and prior before current fiscal year	2,977,083	2,243,184
Revolving lines of credit	1,103,069	1,131,776
Total	10,125,648	10,194,595
Commercial real estate – investor
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	48,428	137,028
One year before current fiscal year	136,697	1,165,955
Two years before current fiscal year	1,170,068	1,331,073
Three years before current fiscal year	1,330,248	534,285
Four years before current fiscal year	530,341	505,159
Five years and prior before current fiscal year	1,449,340	1,000,670
Revolving lines of credit	657,633	679,804
Total	5,322,755	5,353,974
Commercial real estate – investor | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	48,428	137,028
One year before current fiscal year	136,697	1,165,955
Two years before current fiscal year	1,170,068	1,328,012
Three years before current fiscal year	1,327,264	529,745
Four years before current fiscal year	525,806	490,438
Five years and prior before current fiscal year	1,352,769	930,337
Revolving lines of credit	644,938	679,804
Total	5,205,970	5,261,319
Commercial real estate – investor | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	2,413
Three years before current fiscal year	2,389	790
Four years before current fiscal year	0	1,446
Five years and prior before current fiscal year	42,787	22,147
Revolving lines of credit	12,695	0
Total	57,871	26,796
Commercial real estate – investor | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	648
Three years before current fiscal year	595	3,750
Four years before current fiscal year	4,535	13,275
Five years and prior before current fiscal year	53,784	48,186
Revolving lines of credit	0	0
Total	58,914	65,859
Commercial real estate – owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	12,333	66,642
One year before current fiscal year	65,173	120,280
Two years before current fiscal year	116,684	103,104
Three years before current fiscal year	98,566	59,179
Four years before current fiscal year	57,582	105,994
Five years and prior before current fiscal year	540,492	466,927
Revolving lines of credit	23,752	21,765
Total	914,582	943,891
Commercial real estate – owner occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	12,333	66,642
One year before current fiscal year	65,173	120,280
Two years before current fiscal year	116,684	103,104
Three years before current fiscal year	98,566	59,179
Four years before current fiscal year	57,582	102,703
Five years and prior before current fiscal year	513,115	441,713
Revolving lines of credit	23,133	21,052
Total	886,586	914,673
Commercial real estate – owner occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	1,272
Five years and prior before current fiscal year	8,705	8,314
Revolving lines of credit	0	0
Total	8,705	9,586
Commercial real estate – owner occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	2,019
Five years and prior before current fiscal year	18,672	16,900
Revolving lines of credit	619	713
Total	19,291	19,632
Commercial and  Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	12,487	112,914
One year before current fiscal year	122,952	65,392
Two years before current fiscal year	66,453	19,590
Three years before current fiscal year	18,281	8,645
Four years before current fiscal year	7,671	7,923
Five years and prior before current fiscal year	56,987	52,651
Revolving lines of credit	392,345	399,417
Total	677,176	666,532
Commercial and  Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	12,487	112,914
One year before current fiscal year	122,952	64,770
Two years before current fiscal year	65,864	19,473
Three years before current fiscal year	18,212	8,645
Four years before current fiscal year	7,671	7,778
Five years and prior before current fiscal year	55,600	51,082
Revolving lines of credit	377,278	383,013
Total	660,064	647,675
Commercial and  Industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years and prior before current fiscal year	170	184
Revolving lines of credit	2,239	2,859
Total	2,409	3,043
Commercial and  Industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	622
Two years before current fiscal year	589	117
Three years before current fiscal year	69	0
Four years before current fiscal year	0	145
Five years and prior before current fiscal year	1,217	1,385
Revolving lines of credit	12,828	13,545
Total	14,703	15,814
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	245,859	250,664
Consumer | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	43,812	283,619
One year before current fiscal year	280,182	916,519
Two years before current fiscal year	904,132	564,515
Three years before current fiscal year	555,438	388,650
Four years before current fiscal year	379,559	223,865
Five years and prior before current fiscal year	802,153	602,366
Revolving lines of credit	0	0
Total	2,965,276	2,979,534
Consumer | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	5,247	32,859
One year before current fiscal year	31,232	20,090
Two years before current fiscal year	19,401	20,737
Three years before current fiscal year	20,089	12,675
Four years before current fiscal year	12,440	12,943
Five years and prior before current fiscal year	128,111	120,570
Revolving lines of credit	29,339	30,790
Total	245,859	250,664
Consumer | Pass | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	43,812	283,296
One year before current fiscal year	279,313	916,153
Two years before current fiscal year	904,132	564,515
Three years before current fiscal year	555,218	388,392
Four years before current fiscal year	378,827	223,247
Five years and prior before current fiscal year	800,232	600,118
Revolving lines of credit	0	0
Total	2,961,534	2,975,721
Consumer | Pass | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	5,247	32,859
One year before current fiscal year	31,232	19,918
Two years before current fiscal year	19,401	20,737
Three years before current fiscal year	20,089	12,675
Four years before current fiscal year	12,440	12,937
Five years and prior before current fiscal year	126,222	118,486
Revolving lines of credit	29,339	30,658
Total	243,970	248,270
Consumer | Special Mention | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	131
Five years and prior before current fiscal year	0	271
Revolving lines of credit	0	0
Total	0	402
Consumer | Special Mention | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	172
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years and prior before current fiscal year	298	386
Revolving lines of credit	0	0
Total	298	558
Consumer | Substandard | Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	323
One year before current fiscal year	869	366
Two years before current fiscal year	0	0
Three years before current fiscal year	220	258
Four years before current fiscal year	732	487
Five years and prior before current fiscal year	1,921	1,977
Revolving lines of credit	0	0
Total	3,742	3,411
Consumer | Substandard | Other consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	6
Five years and prior before current fiscal year	1,591	1,698
Revolving lines of credit	0	132
Total	$ 1,591	$ 1,836

Loans Receivable, Net - Sched_3

Loans Receivable, Net - Schedule of Analysis of Allowance for Credit Losses on Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for credit losses on loans
Balance at beginning of period	$ 67,137	$ 56,824
(Benefit) provision for credit losses	385	3,324
Charge-offs	(441)
Recoveries	92	57
Balance at end of period	67,173	60,195
Gross charge-off originated in 2021	46
Charge-off		10
Commercial Real Estate – Investor
Allowance for credit losses on loans
Balance at beginning of period	27,899	21,070
(Benefit) provision for credit losses	(865)	1,379
Charge-offs	(46)	0
Recoveries	2	2
Balance at end of period	26,990	22,451
Commercial Real Estate – Owner Occupied
Allowance for credit losses on loans
Balance at beginning of period	4,354	4,423
(Benefit) provision for credit losses	(107)	(304)
Charge-offs	0	(6)
Recoveries	4	3
Balance at end of period	4,251	4,116
Commercial and  Industrial
Allowance for credit losses on loans
Balance at beginning of period	6,867	5,695
(Benefit) provision for credit losses	769	131
Charge-offs	0	(3)
Recoveries	5	4
Balance at end of period	7,641	5,827
Residential Real Estate
Allowance for credit losses on loans
Balance at beginning of period	27,029	24,530
(Benefit) provision for credit losses	9	2,390
Charge-offs	0	0
Recoveries	66	8
Balance at end of period	27,104	26,928
Other Consumer
Allowance for credit losses on loans
Balance at beginning of period	988	1,106
(Benefit) provision for credit losses	579	(272)
Charge-offs	(395)	(1)
Recoveries	15	40
Balance at end of period	$ 1,187	$ 873

Loans Receivable, Net - Narrati

Loans Receivable, Net - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modified, accumulated	$ 12,000,000	$ 8,900,000
Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitments to lend additional funds to borrowers	0	0
Commercial real estate – investor
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	16,000,000	15,200,000
Commercial real estate – owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	3,400,000	352,000
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	567,000	304,000
Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	$ 2,300,000	$ 2,600,000

Loans Receivable, Net - Sched_4

Loans Receivable, Net - Schedule of Recorded Investment in Non-Accrual Loans, by Loan Portfolio Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	$ 35,011	$ 29,548
Commercial real estate – investor
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	21,507	20,820
Estimated realizable value	8,800	8,800
Commercial real estate – owner occupied
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	3,355	351
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	567	304
Residential real estate
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	7,181	5,542
Other Consumer
Financing Receivable, Past Due [Line Items]
Loans with non-accrual of interest	$ 2,401	$ 2,531

Loans Receivable, Net - Sched_5

Loans Receivable, Net - Schedule of Aging of Recorded Investment in Past Due Loans by Loan Portfolio Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 10,125,648	$ 10,194,595
Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	39,756	40,088
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	16,868	17,206
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	666	1,996
90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	22,222	20,886
Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	10,085,892	10,154,507
Commercial real estate – investor
Financing Receivable, Past Due [Line Items]
Total loans receivable	5,322,755	5,353,974
Estimated realizable value	8,800	8,800
Commercial real estate – investor | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	20,750	16,863
Commercial real estate – investor | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	4,746	978
Commercial real estate – investor | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	684
Commercial real estate – investor | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	16,004	15,201
Commercial real estate – investor | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	5,302,005	5,337,111
Commercial real estate – owner occupied
Financing Receivable, Past Due [Line Items]
Total loans receivable	914,582	943,891
Commercial real estate – owner occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	1,217	980
Commercial real estate – owner occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	531	335
Commercial real estate – owner occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	368	352
Commercial real estate – owner occupied | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	318	293
Commercial real estate – owner occupied | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	913,365	942,911
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Total loans receivable	677,176	666,532
Commercial and industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	570	308
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	3	163
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	0
Commercial and industrial | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	567	145
Commercial and industrial | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	676,606	666,224
Residential real estate
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,965,276	2,979,534
Residential real estate | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	14,535	18,671
Residential real estate | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	10,793	14,858
Residential real estate | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	0	402
Residential real estate | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	3,742	3,411
Residential real estate | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,950,741	2,960,863
Other Consumer
Financing Receivable, Past Due [Line Items]
Total loans receivable	245,859	250,664
Other Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	2,684	3,266
Other Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	795	872
Other Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	298	558
Other Consumer | 90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	1,591	1,836
Other Consumer | Loans Not Past Due
Financing Receivable, Past Due [Line Items]
Total loans receivable	$ 243,175	$ 247,398

Loans Receivable, Net - Sched_6

Loans Receivable, Net - Schedule of Loans Modifications made to Borrowers (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 3,271	$ 475	$ 11,582
% of Total by Loan Portfolio Segment	0%	0%
Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 129	$ 475
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	148	0
Other Than Insignificant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	2,994	0
Commercial real estate – owner occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 2,994
% of Total by Loan Portfolio Segment	0.33%
Commercial real estate – owner occupied | Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 0
Commercial real estate – owner occupied | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	0
Commercial real estate – owner occupied | Other Than Insignificant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	2,994
Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 129	$ 435	411
% of Total by Loan Portfolio Segment	0%	0.02%
Residential Real Estate | Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 129	$ 435
Residential Real Estate | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	0	0
Residential Real Estate | Other Than Insignificant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	0	0
Other Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 148	$ 40	$ 419
% of Total by Loan Portfolio Segment	0.06%	0.02%
Other Consumer | Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 0	$ 40
Other Consumer | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	148	0
Other Consumer | Other Than Insignificant Payment Delay
Financing Receivable, Allowance for Credit Loss [Line Items]
Modified loans	$ 0	$ 0

Loans Receivable, Net - Sched_7

Loans Receivable, Net - Schedule of Troubled Debt Restructuring Loans (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans	$ 3,271	$ 475	$ 11,582
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		337	11,429
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		138	0
90 Days or Greater Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		0	153
Commercial real estate – investor
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			7,758
Commercial real estate – investor | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			7,758
Commercial real estate – investor | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			0
Commercial real estate – investor | 90 Days or Greater Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			0
Commercial real estate – owner occupied
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			2,994
Commercial real estate – owner occupied | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			2,994
Commercial real estate – owner occupied | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			0
Commercial real estate – owner occupied | 90 Days or Greater Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans			0
Residential Real Estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans	129	435	411
Residential Real Estate | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		297	258
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		138	0
Residential Real Estate | 90 Days or Greater Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		0	153
Other Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans	$ 148	40	419
Other Consumer | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		40	419
Other Consumer | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		0	0
Other Consumer | 90 Days or Greater Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Modified loans		$ 0	$ 0

Deposits - Schedule of Major Ty

Deposits - Schedule of Major Types of Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
Non-interest-bearing	$ 1,639,828	$ 1,657,119
Interest-bearing checking	3,865,699	3,911,766
Money market deposit	1,150,979	1,021,805
Savings	1,260,309	1,398,837
Time deposits	2,320,036	2,445,422
Total deposits	$ 10,236,851	$ 10,434,949

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
Time deposits, $250,000 and over	$ 373.9	$ 412
Time deposits also include brokered deposits	$ 543.4	$ 631.5

Borrowed Funds - Schedule of Bo

Borrowed Funds - Schedule of Borrowed Funds (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
FHLB advances	$ 658,436	$ 848,636
Securities sold under agreements to repurchase with customers	66,798	73,148
Other borrowings	425,722	196,456
Total borrowed funds	$ 1,150,956	$ 1,118,240

Borrowed Funds - Narrative (Det

Borrowed Funds - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
FHLB short-term advances	$ 608,600,000	$ 848,600,000
FHLB advances overnight borrowing	49,800,000	0
Other borrowings	$ 425,722,000	$ 196,456,000

Borrowed Funds - Schedule of Pl

Borrowed Funds - Schedule of Pledged Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Loans	$ 10,068,209	$ 10,136,721
Debt securities	744,944	753,892
Assets	13,418,978	13,538,253
FHLB and FRB
Debt Instrument [Line Items]
Loans	7,336,405	7,255,671
Debt securities	1,244,634	1,051,558
Assets	8,581,039	8,307,229
Repurchase agreements
Debt Instrument [Line Items]
Loans	0	0
Debt securities	101,526	103,416
Assets	101,526	103,416
Total pledged assets
Debt Instrument [Line Items]
Loans	7,336,405	7,255,671
Debt securities	1,346,160	1,154,974
Assets	$ 8,682,565	$ 8,410,645

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Financial Liabilities Measured at Fair Value (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss)	$ 1,923,000	$ (2,193,000)
Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum range of unobservable inputs	0%		0%
Maximum range of unobservable inputs	8%		8%
Measurement Input, Appraisal Adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum range of unobservable inputs	0%		0%
Maximum range of unobservable inputs	10%		10%
Fair Value Measured at Net Asset Value Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment funds measured at NAV	$ 3,700,000		$ 3,400,000
Items measured on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	744,944,000		753,892,000
Equity investments	54,788,000		53,166,000
Interest rate derivative asset	104,149,000		87,776,000
Interest rate derivative liability	(105,118,000)		(87,848,000)
Items measured on a recurring basis | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	46,989,000		43,036,000
Equity investments	0		0
Interest rate derivative asset	0		0
Interest rate derivative liability	0		0
Items measured on a recurring basis | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	697,955,000		710,856,000
Equity investments	54,788,000		53,166,000
Interest rate derivative asset	104,149,000		87,776,000
Interest rate derivative liability	(105,118,000)		(87,848,000)
Items measured on a recurring basis | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale	0		0
Equity investments	0		0
Interest rate derivative asset	0		0
Interest rate derivative liability	0		0
Items measured on a non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	48,413,000		46,997,000
Items measured on a non-recurring basis | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	22,206,000		18,509,000
Items measured on a non-recurring basis | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	0		0
Items measured on a non-recurring basis | Level 1 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	0		0
Items measured on a non-recurring basis | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	0		0
Items measured on a non-recurring basis | Level 2 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	0		0
Items measured on a non-recurring basis | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	44,738,000		43,576,000
Items measured on a non-recurring basis | Level 3 Inputs | Loans measured for impairment based on the fair value of the underlying collateral
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans measured for impairment based on the fair value of the underlying collateral	22,206,000		18,509,000
Items measured on a non-recurring basis | Fair Value Measured at Net Asset Value Per Share
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments	44,700,000		43,600,000
Unrealized gain (loss)	$ 0		$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Book Value and Estimated Fair Value of Significant Financial Instruments Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financial Assets:
Debt securities held-to-maturity	$ 1,029,965	$ 1,068,438
Restricted equity investments	85,689	93,766
Financial Liabilities:
Time deposits	2,320,036	2,445,422
Securities sold under agreements to repurchase with customers	66,798	73,148
Level 1 Inputs
Financial Assets:
Cash and due from banks	130,422	153,718
Debt securities held-to-maturity	0	0
Restricted equity investments	0	0
Loans receivable, net and loans held-for-sale	0	0
Financial Liabilities:
Deposits other than time deposits	0	0
Time deposits	0	0
FHLB advances and other borrowings	0	0
Securities sold under agreements to repurchase with customers	66,798	73,148
Level 2 Inputs
Financial Assets:
Cash and due from banks	0	0
Debt securities held-to-maturity	1,029,965	1,068,438
Restricted equity investments	0	0
Loans receivable, net and loans held-for-sale	0	0
Financial Liabilities:
Deposits other than time deposits	7,916,815	7,989,527
Time deposits	2,313,553	2,421,058
FHLB advances and other borrowings	1,068,119	1,008,351
Securities sold under agreements to repurchase with customers	0	0
Level 3 Inputs
Financial Assets:
Cash and due from banks	0	0
Debt securities held-to-maturity	0	0
Restricted equity investments	85,689	93,766
Loans receivable, net and loans held-for-sale	9,486,375	9,606,498
Financial Liabilities:
Deposits other than time deposits	0	0
Time deposits	0	0
FHLB advances and other borrowings	0	0
Securities sold under agreements to repurchase with customers	0	0
Book Value
Financial Assets:
Cash and due from banks	130,422	153,718
Debt securities held-to-maturity	1,128,666	1,159,735
Restricted equity investments	85,689	93,766
Loans receivable, net and loans held-for-sale	10,072,911	10,141,887
Financial Liabilities:
Deposits other than time deposits	7,916,815	7,989,527
Time deposits	2,320,036	2,445,422
FHLB advances and other borrowings	1,084,158	1,045,092
Securities sold under agreements to repurchase with customers	$ 66,798	$ 73,148

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Derivative [Line Items]
Reduction to interest income	$ 932
Collateral already posted, fair value	0			$ 0
Collateral received from third parties	106,200			88,300
Credit risk derivative liability, fair value	105,118			$ 87,848
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative [Line Items]
Floating rate percentage			4%
Interest rate swap contract
Derivative [Line Items]
Income (expense) in fair value adjustments	$ 13	$ (22)
Derivative term			3 years

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Schedule of Accumulated Other Comprehensive Income/Loss Attributable to Cash Flow Hedge Derivative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,661,945	$ 1,585,464
Ending balance	1,665,837	1,610,371
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(36)	(25)
Unrealized (losses) gains recognized in OCI	(949)	412
Losses reclassified from AOCI into interest income	259	101
Ending balance	$ (726)	$ 488

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Schedule of Notional Amount and Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Derivative, notional amount	$ 1,539,968	$ 1,518,276
Credit risk derivative asset, fair value	104,149	87,776
Credit risk derivative liability, fair value	105,118	87,848
Not Designated as Hedging Instrument | Interest rate swaps and cap contracts
Derivatives, Fair Value [Line Items]
Derivative, notional amount	1,439,968	1,418,276
Credit risk derivative asset, fair value	104,149	87,776
Credit risk derivative liability, fair value	104,161	87,801
Designated as Hedging Instrument | Interest rate swap contract
Derivatives, Fair Value [Line Items]
Derivative, notional amount	100,000	100,000
Credit risk derivative asset, fair value	0	0
Credit risk derivative liability, fair value	$ 957	$ 47

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 lease renewalTerm
Leases [Abstract]
Number of finance leases | lease	1
Number of option to renew | renewalTerm	1

Leases - Schedule of Right-of-U

Leases - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Operating lease ROU assets	$ 17,963	$ 18,979
Finance lease ROU asset	1,246	1,304
Total lease ROU assets	$ 19,209	$ 20,283
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Premises and equipment, net	Premises and equipment, net
Lease Liabilities
Operating lease liabilities	$ 19,060	$ 20,018
Finance lease liability	1,620	1,685
Total lease liabilities	$ 20,680	$ 21,703
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Other borrowings	Other borrowings
Future rent and estimated lease termination liability excluded from operating lease liability	$ 5,700	$ 5,900

Leases - Schedule of Weighted-A

Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating leases, weighted-average remaining lease term (years)	6 years 4 months 20 days	6 years 6 months 7 days
Finance lease, weighted-average remaining lease term (years)	5 years 4 months 6 days	5 years 7 months 6 days
Operating leases, weighted-average discount rate (percent)	3.03%	3.02%
Finance lease, weighted-average discount rate (percent)	5.63%	5.63%

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expenses and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lease Expense
Operating lease expense	$ 1,159	$ 1,145
Finance lease expense:
Amortization of ROU assets	58	58
Interest on lease liabilities	23	26
Total	1,240	1,229
Operating cash flows from operating leases	1,101	1,139
Operating cash flows from finance leases	23	26
Financing cash flows from finance leases	$ 65	$ 61

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments for Financing and Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finance Lease
2024	$ 262
2025	350
2026	350
2027	350
2028	350
Thereafter	209
Total	1,871
Less: Imputed interest	(251)
Total lease liabilities	1,620	$ 1,685
Operating Leases
2024	3,274
2025	4,401
2026	3,833
2027	2,678
2028	1,524
Thereafter	5,545
Total	21,255
Less: Imputed interest	(2,195)
Total lease liabilities	$ 19,060	$ 20,018

Variable Interest Entity (Detai

Variable Interest Entity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Other assets	$ 199,974	$ 179,661
Total assets	13,418,978	13,538,253
Other liabilities	337,147	300,712
VIE
Variable Interest Entity [Line Items]
Cash and cash equivalents	23,365	22,151
Other assets	551	606
Total assets	23,916	22,757
Other liabilities	22,104	20,803
Net assets	$ 1,812	$ 1,954