Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2024 | Jul. 31, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 000-20288 | |
Entity Registrant Name | COLUMBIA BANKING SYSTEM, INC. | |
Entity Incorporation, State or Country Code | WA | |
Entity Tax Identification Number | 91-1422237 | |
Entity Address, Address Line One | 1301 A Street | |
Entity Address, City or Town | Tacoma | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 98402-2156 | |
City Area Code | 253 | |
Local Phone Number | 305-1900 | |
Title of 12(b) Security | Common Stock, No Par Value | |
Trading Symbol | COLB | |
Security Exchange Name | NASDAQ | |
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 | 209,481,301 | |
Entity Central Index Key | 0000887343 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
ASSETS | ||
Cash and due from banks (restricted cash of $4,240 and $4,200) | $ 515,263 | $ 498,496 |
Interest-bearing cash and temporary investments (restricted cash of $5,245 and $900) | 1,553,568 | 1,664,038 |
Total cash and cash equivalents | 2,068,831 | 2,162,534 |
Investment securities | ||
Equity and other, at fair value | 77,221 | 76,995 |
Available for sale, at fair value | 8,503,000 | 8,829,870 |
Held to maturity, at amortized cost | 2,203 | 2,300 |
Loans held for sale | 56,310 | 30,715 |
Loans and leases (at fair value: $174,021 and $275,140) | 37,709,987 | 37,441,951 |
Allowance for credit losses on loans and leases | (418,671) | (440,871) |
Net loans and leases | 37,291,316 | 37,001,080 |
Restricted equity securities | 116,274 | 179,274 |
Premises and equipment, net | 337,842 | 338,970 |
Operating lease right-of-use assets | 108,278 | 115,811 |
Goodwill | 1,029,234 | 1,029,234 |
Other intangible assets, net | 542,358 | 603,679 |
Residential mortgage servicing rights, at fair value | 110,039 | 109,243 |
Bank-owned life insurance | 686,485 | 680,948 |
Deferred tax asset, net | 361,773 | 347,203 |
Other assets | 756,319 | 665,740 |
Total assets | 52,047,483 | 52,173,596 |
Deposits | ||
Non-interest-bearing | 13,481,616 | 14,256,452 |
Interest-bearing | 28,041,656 | 27,350,568 |
Total deposits | 41,523,272 | 41,607,020 |
Securities sold under agreements to repurchase | 197,860 | 252,119 |
Borrowings | 3,900,000 | 3,950,000 |
Junior subordinated debentures, at fair value | 310,187 | 316,440 |
Junior and other subordinated debentures, at amortized cost | 107,781 | 107,895 |
Operating lease liabilities | 123,082 | 130,576 |
Other liabilities | 908,629 | 814,512 |
Total liabilities | 47,070,811 | 47,178,562 |
COMMITMENTS AND CONTINGENCIES (Note 9) | ||
SHAREHOLDERS' EQUITY | ||
Preferred Stock, no par value, shares authorized: 2,000,000, issued and outstanding: 0 | 0 | 0 |
Common stock, no par value, shares authorized: 520,000,000 in 2024 and 2023; issued and outstanding: 209,459,123 in 2024 and 208,584,667 in 2023 | 5,807,041 | 5,802,747 |
Accumulated deficit | (374,687) | (467,571) |
Accumulated other comprehensive loss | (455,682) | (340,142) |
Total shareholders' equity | 4,976,672 | 4,995,034 |
Total liabilities and shareholders' equity | $ 52,047,483 | $ 52,173,596 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Restricted cash | $ 4,240 | $ 4,200 |
Restricted Cash and Cash Equivalents | 5,245 | 900 |
Loans and leases, at fair value | $ 174,021 | $ 275,140 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 2,000,000 | |
Preferred Stock, Shares Issued | 0 | |
Preferred Stock, Shares Outstanding | 0 | |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 520,000,000 | 520,000,000 |
Common stock, shares outstanding | 209,459,123 | 208,584,667 |
Common stock, shares issued | 209,459,123 | 208,584,667 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
INTEREST INCOME | ||||
Interest and fees on loans and leases | $ 583,874 | $ 552,679 | $ 1,158,918 | $ 966,204 |
Interest and dividends on investment securities: | ||||
Taxable | 78,828 | 79,036 | 153,845 | 118,765 |
Exempt from federal income tax | 6,904 | 6,817 | 13,808 | 10,214 |
Dividends | 2,895 | 2,581 | 6,602 | 3,300 |
Interest on temporary investments and interest-bearing deposits | 23,035 | 34,616 | 46,588 | 53,197 |
Total interest income | 695,536 | 675,729 | 1,379,761 | 1,151,680 |
INTEREST EXPENSE | ||||
Interest on deposits | 207,307 | 100,408 | 405,742 | 164,021 |
Interest on securities sold under agreement to repurchase and federal funds purchased | 1,515 | 1,071 | 2,781 | 1,477 |
Interest on borrowings | 49,418 | 81,004 | 100,693 | 109,768 |
Interest on junior and other subordinated debentures | 9,847 | 9,271 | 19,734 | 17,741 |
Total interest expense | 268,087 | 191,754 | 528,950 | 293,007 |
Net interest income | 427,449 | 483,975 | 850,811 | 858,673 |
PROVISION FOR CREDIT LOSSES | 31,820 | 16,014 | 48,956 | 121,553 |
Net interest income after provision for credit losses | 395,629 | 467,961 | 801,855 | 737,120 |
NON-INTEREST INCOME | ||||
Residential mortgage banking revenue (loss), net | 5,848 | (2,342) | 10,482 | 5,474 |
(Loss) gain on sale of debt securities, net | (1) | 0 | 11 | 0 |
Gain (loss) on equity securities, net | 325 | (697) | (1,240) | 1,719 |
(Loss) gain on loan and lease sales, net | (1,516) | 442 | (1,295) | 1,382 |
Bank-owned life insurance income | 4,705 | 4,063 | 9,344 | 6,853 |
Noninterest Income, Other Operating Income | (3,238) | 3,811 | 5,467 | 17,414 |
Total non-interest income | 44,703 | 39,678 | 95,060 | 94,413 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 145,066 | 163,398 | 299,604 | 299,490 |
Occupancy and equipment, net | 45,147 | 50,550 | 90,438 | 92,250 |
Communications | 3,408 | 4,357 | 7,190 | 7,383 |
Marketing | 2,305 | 1,937 | 4,241 | 2,996 |
Services | 14,600 | 14,094 | 28,022 | 26,937 |
FDIC assessments | 9,664 | 11,579 | 24,124 | 17,692 |
Intangible amortization | 29,230 | 35,553 | 61,321 | 48,213 |
Business Combination, Acquisition Related Costs | 14,641 | 29,649 | 19,119 | 145,547 |
Other expenses | 15,183 | 17,442 | 32,701 | 30,869 |
Total non-interest expense | 279,244 | 328,559 | 566,760 | 671,377 |
Income before provision for income taxes | 161,088 | 179,080 | 330,155 | 160,156 |
Provision for income taxes | 40,944 | 45,703 | 85,931 | 40,817 |
Net income | $ 120,144 | $ 133,377 | $ 244,224 | $ 119,339 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 0.58 | $ 0.64 | $ 1.17 | $ 0.65 |
Diluted (in dollars per share) | $ 0.57 | $ 0.64 | $ 1.17 | $ 0.65 |
Weighted average number of common shares outstanding: | ||||
Basic (in shares) | 208,498 | 207,977 | 208,379 | 182,325 |
Diluted (in shares) | 209,011 | 208,545 | 208,999 | 182,860 |
Service charges on deposits | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | $ 18,503 | $ 16,454 | $ 34,567 | $ 30,766 |
Card-based Fees | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | 14,681 | 13,435 | 27,864 | 24,996 |
Financial services and trust revenue | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | $ 5,396 | $ 4,512 | $ 9,860 | $ 5,809 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 120,144 | $ 133,377 | $ 244,224 | $ 119,339 |
Available for sale securities: | ||||
Unrealized losses arising during the period | (39,571) | (145,743) | (162,233) | (305) |
Income tax benefit related to unrealized losses | 10,288 | 37,894 | 42,181 | 67 |
Reclassification adjustment for net realized losses (gains) in earnings | 1 | 0 | (11) | 0 |
Income tax expense related to realized gains | 0 | 0 | 3 | 0 |
Net change in unrealized losses for available for sale securities | (29,282) | (107,849) | (120,060) | (238) |
Junior subordinated debentures, at fair value: | ||||
Unrealized (losses) gains arising during the period | (384) | (14,638) | 6,069 | 11,174 |
Income tax benefit (expense) related to unrealized (losses) gains | 100 | 3,806 | (1,578) | (2,905) |
Net change in unrealized (losses) gains for junior subordinated debentures, at fair value | (284) | (10,832) | 4,491 | 8,269 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent [Abstract] | ||||
Amortization of unrecognized net actuarial loss included in net periodic pension cost | 20 | 72 | 39 | 96 |
Income tax expense related to unrecognized actuarial loss | (5) | (19) | (10) | (25) |
Net change in pension plan liability adjustment | 15 | 53 | 29 | 71 |
Other comprehensive (loss) gain income, net of tax | (29,551) | (118,628) | (115,540) | 8,102 |
Comprehensive income | $ 90,593 | $ 14,749 | $ 128,684 | $ 127,441 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income (Loss) |
Beginning balance (in shares) at Dec. 31, 2022 | 129,320,962 | |||
Beginning balance at Dec. 31, 2022 | $ 2,479,826 | $ 3,450,493 | $ (543,803) | $ (426,864) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | (14,038) | (14,038) | ||
Other comprehensive income (loss), net of tax | 126,730 | 126,730 | ||
Stock issued in connection with the Merger | 2,337,632 | 2,337,632 | ||
Stock-based compensation | 5,644 | $ 5,644 | ||
Stock repurchased and retired (in shares) | (215,229) | |||
Stock repurchased and retired | (5,216) | $ (5,216) | ||
Issuances of common stock under stock plans (in shares) | 460,399 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Stock related to Merger (in shares) | 78,863,112 | |||
Cash dividends on common stock | (45,855) | (45,855) | ||
Ending balance (in shares) at Mar. 31, 2023 | 208,429,244 | |||
Ending balance at Mar. 31, 2023 | 4,884,723 | $ 5,788,553 | (603,696) | (300,134) |
Beginning balance (in shares) at Dec. 31, 2022 | 129,320,962 | |||
Beginning balance at Dec. 31, 2022 | 2,479,826 | $ 3,450,493 | (543,803) | (426,864) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 119,339 | |||
Other comprehensive income (loss), net of tax | 8,102 | |||
Ending balance (in shares) at Jun. 30, 2023 | 208,513,639 | |||
Ending balance at Jun. 30, 2023 | 4,828,188 | $ 5,792,792 | (545,842) | (418,762) |
Beginning balance (in shares) at Mar. 31, 2023 | 208,429,244 | |||
Beginning balance at Mar. 31, 2023 | 4,884,723 | $ 5,788,553 | (603,696) | (300,134) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 133,377 | 133,377 | ||
Other comprehensive income (loss), net of tax | (118,628) | (118,628) | ||
Stock issued in connection with the Merger | 1,646 | |||
Stock-based compensation | 3,335 | $ 3,335 | ||
Stock repurchased and retired (in shares) | (32,727) | |||
Stock repurchased and retired | (742) | $ (742) | ||
Issuances of common stock under stock plans (in shares) | 117,122 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | (75,523) | (75,523) | ||
Ending balance (in shares) at Jun. 30, 2023 | 208,513,639 | |||
Ending balance at Jun. 30, 2023 | 4,828,188 | $ 5,792,792 | (545,842) | (418,762) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 135,845 | 135,845 | ||
Other comprehensive income (loss), net of tax | (261,667) | (261,667) | ||
Stock-based compensation | 4,338 | $ 4,338 | ||
Stock repurchased and retired (in shares) | (7,072) | |||
Stock repurchased and retired | (148) | $ (148) | ||
Issuances of common stock under stock plans (in shares) | 10,472 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Issuances of common stock under the employee stock purchase plan (In Shares) | 58,440 | |||
Issuances of common stock under the employee stock purchase plan | 1,185 | $ 1,185 | ||
Cash dividends on common stock | (75,579) | (75,579) | ||
Ending balance (in shares) at Sep. 30, 2023 | 208,575,479 | |||
Ending balance at Sep. 30, 2023 | 4,632,162 | $ 5,798,167 | (485,576) | (680,429) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 93,531 | 93,531 | ||
Other comprehensive income (loss), net of tax | 340,287 | 340,287 | ||
Stock-based compensation | 4,756 | $ 4,756 | ||
Stock repurchased and retired (in shares) | (8,807) | |||
Stock repurchased and retired | (176) | $ (176) | ||
Issuances of common stock under stock plans (in shares) | 17,995 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | $ (75,526) | (75,526) | ||
Ending balance (in shares) at Dec. 31, 2023 | 208,584,667 | 208,584,667 | ||
Ending balance at Dec. 31, 2023 | $ 4,995,034 | $ 5,802,747 | (467,571) | (340,142) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 124,080 | 124,080 | ||
Other comprehensive income (loss), net of tax | (85,989) | (85,989) | ||
Stock-based compensation | 4,422 | $ 4,422 | ||
Stock repurchased and retired (in shares) | (240,329) | |||
Stock repurchased and retired | (4,847) | $ (4,847) | ||
Issuances of common stock under stock plans (in shares) | 1,026,057 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | (75,455) | (75,455) | ||
Ending balance (in shares) at Mar. 31, 2024 | 209,370,395 | |||
Ending balance at Mar. 31, 2024 | $ 4,957,245 | $ 5,802,322 | (418,946) | (426,131) |
Beginning balance (in shares) at Dec. 31, 2023 | 208,584,667 | 208,584,667 | ||
Beginning balance at Dec. 31, 2023 | $ 4,995,034 | $ 5,802,747 | (467,571) | (340,142) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 244,224 | |||
Other comprehensive income (loss), net of tax | $ (115,540) | |||
Ending balance (in shares) at Jun. 30, 2024 | 209,459,123 | 209,459,123 | ||
Ending balance at Jun. 30, 2024 | $ 4,976,672 | $ 5,807,041 | (374,687) | (455,682) |
Beginning balance (in shares) at Mar. 31, 2024 | 209,370,395 | |||
Beginning balance at Mar. 31, 2024 | 4,957,245 | $ 5,802,322 | (418,946) | (426,131) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 120,144 | 120,144 | ||
Other comprehensive income (loss), net of tax | (29,551) | (29,551) | ||
Stock-based compensation | 5,486 | $ 5,486 | ||
Stock repurchased and retired (in shares) | (41,399) | |||
Stock repurchased and retired | (767) | $ (767) | ||
Issuances of common stock under stock plans (in shares) | 130,127 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | $ (75,885) | (75,885) | ||
Ending balance (in shares) at Jun. 30, 2024 | 209,459,123 | 209,459,123 | ||
Ending balance at Jun. 30, 2024 | $ 4,976,672 | $ 5,807,041 | $ (374,687) | $ (455,682) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes In Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |||||
Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Cash dividends on common stock (in dollars per share) | $ 0.36 | $ 0.36 | $ 0.36 | $ 0.36 | $ 0.36 | $ 0.35 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 244,224 | $ 119,339 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Accretion of investment discounts, net | (39,785) | (26,954) |
Gain on sale of investment securities, net | (11) | 0 |
Provision for credit losses | 48,956 | 121,553 |
Change in cash surrender value of bank-owned life insurance | (9,502) | (2,992) |
Depreciation, amortization and accretion | 77,120 | 63,111 |
Gain on sale of premises and equipment | (2,628) | (644) |
Additions to residential mortgage servicing rights carried at fair value | (2,777) | (2,769) |
Change in fair value of residential mortgage servicing rights carried at fair value | 1,981 | 14,857 |
Stock-based compensation | 9,908 | 8,979 |
Net increase in equity and other investments | (1,466) | (395) |
Loss (gain) on equity securities, net | 1,240 | (1,719) |
Gain on sale of loans and leases, net | (1,799) | (4,940) |
Change in fair value of loans held for sale | (316) | 520 |
Origination of loans held for sale | (227,778) | (251,202) |
Proceeds from sales of loans held for sale | 204,276 | 258,802 |
Change in other assets and liabilities: | ||
Net increase in other assets | (49,478) | (14,072) |
Net increase (decrease) in other liabilities | 83,633 | (54,115) |
Net cash provided by operating activities | 335,798 | 227,359 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of investment securities available for sale | (33,506) | (919,933) |
Proceeds from investment securities available for sale | 237,615 | 1,369,809 |
Purchases of restricted equity securities | (85,500) | (220,066) |
Redemption of restricted equity securities | 148,500 | 110,696 |
Net change in loans and leases | (457,307) | (581,350) |
Proceeds from sales of loans and leases | 112,307 | 435,939 |
Change in premises and equipment | 12,369 | 3,512 |
Proceeds from bank-owned life insurance death benefits | 3,305 | 3,305 |
Cash received in the Merger | 0 | 274,587 |
Other | 1,143 | 340 |
Net cash (used in) provided by investing activities | (85,812) | 469,815 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net decrease in deposit liabilities | (83,748) | (1,423,793) |
Net decrease in federal funds purchased | 0 | (14,000) |
Net decrease in securities sold under agreements to repurchase | (54,259) | (83,880) |
Proceeds from borrowings | 3,900,000 | 9,850,000 |
Repayment of borrowings | (3,950,000) | (6,786,522) |
Dividends paid on common stock | (150,068) | (120,448) |
Repurchase and retirement of common stock | (5,614) | (5,958) |
Net cash (used in) provided by financing activities | (343,689) | 1,415,399 |
Net (decrease) increase in cash and cash equivalents | (93,703) | 2,112,573 |
Cash and cash equivalents, beginning of period | 2,162,534 | 1,294,643 |
Cash and cash equivalents, end of period | 2,068,831 | 3,407,216 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 525,478 | 228,995 |
Income taxes | 52,373 | 78,528 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Changes in unrealized gains and losses on investment securities available for sale, net of taxes | (120,060) | (238) |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | 4,491 | 8,269 |
Transfer of loans to loans held for sale | 0 | 118,085 |
Umpqua Bank and Columbia Banking System Merger | ||
Asset Acquisition [Line Items] | ||
Assets acquired | 0 | 19,230,586 |
Liabilities assumed | 0 | (17,920,542) |
Net assets acquired | $ 0 | $ 1,310,044 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The accounting and financial reporting policies of Columbia Banking System, Inc. conform to accounting principles generally accepted in the United States of America and with prevailing practices within the banking and securities industries. All references in this report to "Columbia," "we," "our," or "us" or similar references mean the Company and its subsidiaries, including the wholly-owned banking subsidiary Umpqua Bank (the "Bank"). FinPac is a commercial equipment leasing company and a wholly-owned subsidiary of the Bank. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, and the Bank's wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated. The condensed consolidated financial statements have not been audited. A more detailed description of the Company's accounting policies is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions subsequent to June 30, 2024, for potential recognition or disclosure. In management's opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments include normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim period. Basis of Financial Statement Presentation - On February 28, 2023 , UHC merged with and into Columbia, with Columbia continuing as the surviving legal corporation. Promptly following the Merger, Columbia’s wholly-owned bank subsidiary, Columbia State Bank, merged with and into UHC’s wholly-owned bank subsidiary, Umpqua Bank, with Umpqua Bank as the surviving bank. Upon completion of the Merger, the combined company became Columbia Banking System, Inc., a financial holding company that wholly owns the Bank. The Merger was accounted for as a reverse merger using the acquisition method of accounting; therefore, UHC was deemed the acquirer for financial reporting purposes, even though Columbia was the legal acquirer. The Merger was effectively an all-stock transaction and has been accounted for as a business combination. Columbia's financial results for any periods ended prior to February 28, 2023, the Merger Date, reflect UHC results only on a standalone basis. Accordingly, Columbia's reported financial results for the six months ended June 30, 2023, reflect only UHC financial results through the closing of the Merger and may not be directly comparable to the prior or future reported periods. Under the reverse acquisition method of accounting, the assets and liabilities of Columbia were recorded at their respective fair values as of February 28, 2023 ("historical Columbia"). Refer to Note 2 - Business Combination for additional information on this acquisition. Application of new accounting guidance Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The amendments in this ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments also update the disclosures for equity securities subject to contractual restrictions. Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company adopted the guidance on January 1, 2024, using a prospective methodology, and it did not have a material impact on the Company's consolidated financial statements. ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force) The amendments in this ASU permit companies to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the statement of income as a component of income tax expense (benefit). The amendments also require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understand the investments that generate income tax credits and other income tax benefits from a tax credit program. Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company adopted the guidance on January 1, 2024, and it did not have a material impact on the Company’s consolidated financial statements. Refer to Note 13 - Income Taxes for additional information. Recent accounting pronouncements Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters ASU No. 2023-06, Disclosure Improvements The amendments in this ASU modify the disclosure or presentation requirements of a variety of topics in the codification. The amendments align the requirements in the codification with the SEC’s regulations. Each amendment is effective on the date on which the SEC removes the related disclosure requirement from Regulation S-X or Regulation S-K, as applicable. For all entities within the scope of the affected codification subtopics, if, by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the associated amendment will be removed from the codification and will not become effective for any entities. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. ASU No. 2023-07, Segment Reporting (Topic 280) The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The ASU requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this ASU and all existing segment disclosures in Topic 280. Fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments are intended to provide more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The ASU requires annual disclosure of the rate reconciliation of specific categories as well as additional information related to the reconciliation of certain items that meet a quantitative threshold and further disaggregation of income taxes paid. Annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. ASU No. 2024-01, Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards The amendments improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation—Stock Compensation . Fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters FASB Accounting Standards Update No. 2024-02— Codification Improvements—Amendments to Remove References to the Concepts Statements The amendments focus on codification improvements and specifically addresses the removal of references to the Concepts Statements. These amendments aim to streamline accounting guidance by eliminating extraneous references that are not essential for understanding or applying the accounting principles. The update ensures all relevant disclosure guidance is appropriately placed within the Disclosure Section of the codification to enhance clarity and accessibility for users of financial statements. Fiscal years beginning after December 15, 2024. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. |
Business Combinations and Asset
Business Combinations and Asset Acquisitions | 6 Months Ended |
Jun. 30, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combination Disclosure | Business Combination On February 28, 2023 , the Company completed the Merger and UHC merged with and into Columbia, with Columbia continuing as the surviving legal corporation. Promptly following the Merger, Columbia’s wholly-owned bank subsidiary, Columbia State Bank, merged with and into UHC’s wholly-owned bank subsidiary, Umpqua Bank, with Umpqua Bank surviving the merger. Refer to Note 1 - Summary of Significant Accounting Policies under the Basis of Financial Statement Presentation for more information pertaining to the completed Merger. The Merger was accounted for as a reverse merger using the acquisition method of accounting; therefore, UHC was deemed the acquirer for financial reporting purposes, even though Columbia was the legal acquirer. The Merger was effectively an all-stock transaction and has been accounted for as a business combination. As of December 31, 2023, the Company finalized its valuation of all assets acquired and liabilities assumed in connection with the Merger. The Company recorded approximately $1.0 billion of goodwill and $710.2 million of other intangible assets. Goodwill represents the excess of the purchase price over the fair value of the assets acquired, net of fair value of liabilities assumed. Goodwill is not deductible for tax purposes. During the three and six months ended June 30, 2024, there were $2.7 million and $7.2 million in merger-related expenses, respectively, compared to $29.6 million and $145.5 million during the three and six months ended June 30, 2023, respectively. Additional merger-related expenses will be expensed in future periods as incurred. The following table presents unaudited pro forma information as if the Merger had occurred on January 1, 2022, which was the beginning of the last full fiscal year completed prior to the date of the Merger. The pro forma adjustments give effect to any change in interest income due to the accretion of the discount (premium) associated with the fair value adjustments to acquired loans and leases, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustment to acquired interest-bearing deposits and long-term debt and the amortization of the core deposit intangible that would have resulted had the deposits been acquired as of January 1, 2022. The pro forma information is not indicative of what would have occurred had the Merger occurred as of the beginning of the year prior to the Merger Date. The pro forma amounts below do not reflect the Company's expectations as of the date of the pro forma information of further operating cost savings and other business synergies expected to be achieved, including revenue growth as a result of the Merger. As a result, actual amounts differed from the unaudited pro forma information presented. Unaudited Pro Forma for the Six Months Ended (in thousands) June 30, 2023 Net interest income $ 1,014,447 Non-interest income $ 128,250 Net income (1) $ 381,212 (1) The 2023 pro forma net income excludes $173.5 million of merger-related costs, inclusive of historical Columbia merger-related costs, incurred in 2023, as these costs were included in the 2022 pro forma net income . |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following tables present the amortized cost, unrealized gains, unrealized losses, and approximate fair values of debt securities as of the dates presented: June 30, 2024 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 1,553,422 $ 140 $ (86,340) $ 1,467,222 Obligations of states and political subdivisions 1,064,031 4,178 (33,686) 1,034,523 Mortgage-backed securities and collateralized mortgage obligations 6,480,698 1,168 (480,611) 6,001,255 Total available for sale securities $ 9,098,151 $ 5,486 $ (600,637) $ 8,503,000 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,203 $ 682 $ — $ 2,885 Total held to maturity securities $ 2,203 $ 682 $ — $ 2,885 December 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 1,551,074 $ 6,192 $ (78,874) $ 1,478,392 Obligations of states and political subdivisions 1,073,264 20,451 (21,610) 1,072,105 Mortgage-backed securities and collateralized mortgage obligations 6,638,439 28,558 (387,624) 6,279,373 Total available for sale securities $ 9,262,777 $ 55,201 $ (488,108) $ 8,829,870 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,300 $ 725 $ — $ 3,025 Total held to maturity securities $ 2,300 $ 725 $ — $ 3,025 The Company elected to exclude accrued interest receivable from the amortized cost basis of debt securities disclosed throughout this note. Interest accrued on investment securities totaled $33.5 million and $34.1 million as of June 30, 2024 and December 31, 2023, respectively, and is included in other assets on the Condensed Consolidated Balance Sheets. The following tables present debt securities that were in an unrealized loss position as of the dates presented, based on the length of time individual securities have been in an unrealized loss position. June 30, 2024 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 503,063 $ (1,498) $ 913,887 $ (84,842) $ 1,416,950 $ (86,340) Obligations of states and political subdivisions 499,412 (7,526) 221,760 (26,160) 721,172 (33,686) Mortgage-backed securities and collateralized mortgage obligations 3,273,776 (51,322) 2,524,899 (429,289) 5,798,675 (480,611) Total temporarily impaired securities $ 4,276,251 $ (60,346) $ 3,660,546 $ (540,291) $ 7,936,797 $ (600,637) December 31, 2023 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 99,898 $ (1,074) $ 822,245 $ (77,800) $ 922,143 $ (78,874) Obligations of states and political subdivisions 103,256 (580) 169,231 (21,030) 272,487 (21,610) Mortgage-backed securities and collateralized mortgage obligations 1,089,640 (10,355) 1,817,768 (377,269) 2,907,408 (387,624) Total temporarily impaired securities $ 1,292,794 $ (12,009) $ 2,809,244 $ (476,099) $ 4,102,038 $ (488,108) The number of individual debt securities in an unrealized loss position in the tables above increased to 1,263 as of June 30, 2024, as compared to 600 at December 31, 2023. These unrealized losses on the debt securities held by the Company were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and are not due to the underlying credit of the issuers. Management monitors the published credit ratings of the issuers of the debt securities for material rating or outlook changes. As the decline in fair value of the debt securities is attributable to changes in interest rates or widening market spreads and not credit quality, these investments do not have an ACL as of June 30, 2024. The following table presents the contractual maturities of debt securities as of June 30, 2024: Available For Sale Held To Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 190,692 $ 189,169 $ — $ — Due after one year through five years 2,352,102 2,289,382 3 3 Due after five years through ten years 2,095,493 2,003,191 1 486 Due after ten years 4,459,864 4,021,258 2,199 2,396 Total debt securities $ 9,098,151 $ 8,503,000 $ 2,203 $ 2,885 The following table presents, as of June 30, 2024, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: (in thousands) Amortized Cost Fair Value To state and local governments to secure public deposits $ 1,912,250 $ 1,727,324 To secure repurchase agreements 320,289 291,554 Other securities pledged 3,534,750 3,249,558 Total pledged securities $ 5,767,289 $ 5,268,436 |
Loans and Leases
Loans and Leases | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Loans and Leases | Loans and Leases The following table presents the major types of loans and leases, net of deferred fees and costs, as of the dates presented: (in thousands) June 30, 2024 December 31, 2023 Commercial real estate Non-owner occupied term, net $ 6,407,351 $ 6,482,940 Owner occupied term, net 5,230,511 5,195,605 Multifamily, net 5,868,848 5,704,734 Construction & development, net 1,946,693 1,747,302 Residential development, net 269,106 323,899 Commercial Term, net 5,559,548 5,536,765 Lines of credit & other, net 2,558,633 2,430,127 Leases & equipment finance, net 1,701,943 1,729,512 Residential Mortgage, net 5,992,163 6,157,166 Home equity loans & lines, net 1,982,786 1,938,166 Consumer & other, net 192,405 195,735 Total loans and leases, net of deferred fees and costs $ 37,709,987 $ 37,441,951 The Company elected to exclude accrued interest receivable from the amortized cost basis of loans disclosed throughout this note. Interest accrued on loans totaled $154.7 million and $154.9 million as of June 30, 2024 and December 31, 2023, respectively, and is included in other assets on the Condensed Consolidated Balance Sheets. As of June 30, 2024, loans totaling $22.7 billion were pledged to secure borrowings and available lines of credit. As of June 30, 2024 and December 31, 2023, the net deferred fees and costs were $67.5 million and $71.8 million, respectively. Originated loans are reported at the principal amount outstanding, net of unearned interest, deferred fees and costs, any partial charge-offs recorded, and interest applied to principal. Purchased loans are recorded at fair value at the date of purchase. Total loans and leases also include discounts on acquired loans of $492.5 million and $552.5 million as of June 30, 2024 and December 31, 2023, respectively. The outstanding contractual unpaid principal balance of PCD loans, excluding acquisition accounting adjustments, was $293.5 million and $331.9 million as of June 30, 2024 and December 31, 2023, respectively. The carrying balance of PCD loans was $268.7 million and $300.2 million as of June 30, 2024 and December 31, 2023, respectively. The Bank, through its commercial equipment leasing subsidiary, FinPac, is a provider of commercial equipment leasing and financing. Direct finance leases are included within the leases and equipment finance segment within the loans and leases, net line item. These direct financing leases typically have terms of three |
Allowance for Credit Losses
Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Allowance for Credit Losses | Allowance for Credit Losses Allowance for Credit Losses Methodology The ACL represents management's estimate of lifetime credit losses for assets within its scope, specifically loans and leases and unfunded commitments. To calculate the ACL, management uses models to estimate the PD and LGD for loans utilizing inputs that include forecasted future economic conditions and that are dependent upon specific macroeconomic variables relevant to each of the Bank's loan and lease portfolios. Moody's Analytics, a third party, provided the historical and forward-looking macroeconomic data utilized in the models used to calculate the ACL. In calculating the ACL, the Bank considered the financial and economic environment at the time of assessment and economic scenarios that differed in the levels of severity and sensitivity to the ACL results. At each measurement date, the Bank selects the scenario that reflects its view of future economic conditions and is determined to be the most probable outcome. All forecasts are updated for each variable where applicable and incorporated as relevant into the ACL calculation. Actual credit loss results and the timing thereof will differ from the estimate of credit losses, either in a strong economy or a recession, as the portfolio will change through time due to growth, risk mitigation actions and other factors. In addition, the scenarios used will differ and change through time as economic conditions change. Economic scenarios might not capture deterioration or improvement in the economy timely enough for the Bank to be able to adequately address the impact to the ACL. Select macroeconomic variables are projected over the forecast period, and they could have a material impact in determining the ACL. As the length of the forecast period increases, information about the future becomes less readily available and projections are inherently less certain. The following is a discussion of the changes in the factors that influenced management's current estimate of expected credit losses. The changes in the ACL estimate during the three months ended June 30, 2024 reflect credit migration trends and changes in the economic assumptions. Due to the dynamic economic environment, the Bank opted to use Moody's Analytics' May 2024 baseline economic forecast for estimating the ACL as of June 30, 2024. In the baseline scenario selected, the probability that the economy will perform better than this baseline is equal to the probability that it will perform worse and included the following factors: • U.S. real GDP average annualized growth of 2.5% in 2024, 1.7% in 2025, 1.9% in 2026, and 2.2% in 2027; • U.S. unemployment rate average of 4.0% in 2024, 4.1% in 2025, 4.0% in 2026, and 4.0% in 2027; and • The forecasted average federal funds rate is expected to be 5.2% in 2024, 4.3% in 2025, 3.3% in 2026 and 2.9% in 2027. The Bank uses an additional scenario that differs in terms of severity, both favorable or unfavorable, to assess the sensitivity in the ACL results and to inform qualitative adjustments. The economic factors are consistent between scenarios. The Bank selected the Moody's Analytics' May 2024 S2 scenario for this analysis. In the scenario selected, there is a 75% probability that the economy will perform better, broadly speaking, and a 25% probability that it will perform worse; and the scenario includes the following factors: • U.S. real GDP average annualized growth of 2.0% in 2024, 0.1% in 2025, 2.5% in 2026, and 2.7% in 2027; • U.S. unemployment rate average of 4.5% in 2024, 6.1% in 2025, 4.4% in 2026, and 4.0% in 2027; and • The forecasted average federal funds rate is expected to be 5.0% in 2024, 2.8% in 2025, 2.2% in 2026 and 2.7% in 2027. The results using the comparison scenario as well as changes to the macroeconomic variables subsequent to selected economic forecast scenarios for sensitivity analysis were reviewed by management and were considered when evaluating the qualitative factor adjustments. The ACL is measured on a collective (pool) basis when similar characteristics exist. The Company has selected models at the portfolio level using a risk-based approach, with larger, more complex portfolios having more complex models. Except as noted below, the macroeconomic variables that are inputs to the models are reasonable and supportable over the life of the loans in that they reasonably project the key economic variables in the near term and then converge to a long-run equilibrium trend. These models produce reasonable and supportable estimates of loss over the life of the loans as the projected credit losses will also converge to a steady state in line with the variables applied. The Company measures the ACL using the following methods: Commercial Real Estate: Non-owner occupied commercial real estate, multifamily, and commercial construction loans are analyzed using a model that uses four primary property variables: net operating income, property value, property type, and location. For PD estimation, the model simulates potential future paths of net operating income given commercial real estate market factors determined from macroeconomic and regional commercial real estate forecasts. Using the resulting expected debt service coverage ratios, together with predicted loan-to-values and other variables, the model estimates PD from the range of conditional possibilities. In addition, the model estimates maturity PD capturing refinance default risk to produce a total PD for the loan. The model estimates LGD, inclusive of principal loss and liquidation expenses, empirically using predicted loan-to-value as well as certain market and other factors. The LGD calculation also includes a separate maturity risk component. The primary economic drivers in the model are GDP growth, U.S. unemployment rate, and 10-Year Treasury yield. These economic drivers are translated into a forecast, provided by Moody's Analytics' REIS, of real estate metrics, such as rental rates, vacancies, and cap rates. The model produces PD and LGD on a quarter-by-quarter basis for the life of loan. The owner occupied commercial real-estate portfolio utilizes a top-down macroeconomic model using linear regression. This model produces portfolio level quarterly net charge-off rates for 10 years and carries forward the last quarter's expected loss percentage projection to remaining periods. The primary economic drivers for this model are commercial real estate price index and a five-state average unemployment rate. Commercial: Non-homogeneous commercial loans and leases and residential development loans are analyzed in a multi-step process. An initial PD is estimated using a model driven by an obligor's selected financial statement ratios, together with cycle-adjusting information based on the obligor's state and industry. An initial LGD is derived separately based on collateral type using collateral value and a haircut to reflect the loss in liquidation. Another model then applies an auto-regression technique to the initial PD and LGD metrics to estimate the PD and LGD curves according to the macroeconomic scenario over a one-year reasonable and supportable forecast. The primary economic drivers in the model are GDP growth and commercial real estate price index. This model utilizes output reversion methodology, which, after one year, reverts on a straight-line basis over two years to long-term PD estimated using financial statement ratios of each obligor. The model for the homogeneous lease and equipment finance agreement portfolio uses lease and equipment finance agreement information, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD values. The PD calculation is based on survival analysis while LGD is calculated using a two-step regression. The model calculates LGD using an estimate of the probability that a defaulted lease or equipment finance agreement will have a loss, and an estimate of the loss amount. The primary economic drivers for the model are GDP, U.S. unemployment rate, and a home price growth index. The model produces PD and LGD curves at the lease or equipment finance agreement level for each month in the forecast horizon. Residential: The models for residential real estate and HELOCs utilize loan level variables, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD. The U.S. unemployment rate and home price growth rate indexes are primary economic drivers in both the residential real estate and HELOC models. In addition, the prime rate is also a primary driver in the HELOC model. The models focus on establishing an empirical relationship between default probabilities and a set of loan-level, borrower, and macroeconomic credit risk drivers. The LGD calculation for residential real estate is based on an estimate of the probability that a defaulted loan will have a loss, and then an estimate of the loss amount. HELOCs utilize the same model using residential real estate LGD values to assign loans to cohorts based on FICO scores and loan age. The model produces PD and LGD curves at the loan level for each quarter in the forecast horizon. Consumer : Historical net charge-off information as well as economic assumptions are used to project loss rates for the Consumer segment. All loans and leases that have not been modeled receive a loss rate via an extrapolated rate methodology. The loans and leases receiving an extrapolated rate include certain loans acquired through the Merger, newly originated loans and leases, and loans and leases without the granularity of data necessary to be modeled. Based on the vintage year, credit classification, and reporting category of the modeled loans and leases, a loss factor is calculated and applied to the non-modeled loans and leases. The results are evaluated qualitatively to ensure reasonability and compliance with CECL. Along with the quantitative factors produced by the above models, management also considers prepayment speeds and qualitative factors when determining the ACL. The Company uses a prepayment model that forecasts the constant prepayment rates based on institution specific data for the commercial real estate, commercial and industrial, and consumer portfolios and a forward curve approach that changes with macro-economic input variables for the residential and leases portfolios. Below are the nine qualitative factors considered where applicable: • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses. • Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. • Changes in the nature and volume of the portfolio and in the terms of loans and leases. • Changes in the experience, ability, and depth of lending management and other relevant staff. • Changes in the volume and severity of past due loans and leases, the volume of non-accrual loans and leases, and the volume and severity of adversely classified or graded loans and leases. • Changes in the quality of the Bank's credit review system. • Changes in the value of the underlying collateral for collateral-dependent loans and leases. • The existence and effect of any concentrations of credit, and changes in the level of such concentrations. • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Bank's existing portfolio. The Company evaluated each qualitative factor as of June 30, 2024 and applied adjustments considered necessary to model results. While qualitative overlays are applied, the majority of the allowance is driven by modeled results, as management determined that the models adequately reflect the significant changes in credit conditions and overall portfolio risk. Loss factors from the models, prepayment speeds, and qualitative factors are input into the Company's CECL accounting application, which aggregates the information. The Company then uses two methods to calculate the current expected credit loss: 1) the DCF method, which is used for all loans except lines of credit and 2) the non-DCF method, which is used for lines of credit due to the difficulty of calculating an effective interest rate when lines have yet to be drawn on. The DCF method utilizes the effective interest rate of individual assets to discount the expected credit losses adjusted for prepayments. The difference in the net present value and the amortized cost of the asset will result in the required allowance. The non-DCF method uses the exposure at default, along with the expected credit losses adjusted for prepayments to calculate the required allowance. The following tables summarize activity related to the ACL by portfolio segment for the periods indicated: Three Months Ended June 30, 2024 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 146,276 $ 202,757 $ 58,010 $ 7,301 $ 414,344 (Recapture) provision for credit losses for loans and leases (3,096) 46,320 (9,032) 568 34,760 Charge-offs (585) (33,561) (504) (1,551) (36,201) Recoveries 551 4,198 411 608 5,768 Net charge-offs (34) (29,363) (93) (943) (30,433) Balance, end of period $ 143,146 $ 219,714 $ 48,885 $ 6,926 $ 418,671 Reserve for unfunded commitments Balance, beginning of period $ 13,028 $ 5,890 $ 2,757 $ 1,193 $ 22,868 (Recapture) provision for credit losses on unfunded commitments (3,082) 657 (479) (36) (2,940) Balance, end of period 9,946 6,547 2,278 1,157 19,928 Total allowance for credit losses $ 153,092 $ 226,261 $ 51,163 $ 8,083 $ 438,599 Six Months Ended June 30, 2024 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 125,888 $ 244,821 $ 62,004 $ 8,158 $ 440,871 Provision (recapture) for credit losses for loans and leases 17,095 46,756 (12,706) 1,091 52,236 Charge-offs (746) (80,793) (994) (3,421) (85,954) Recoveries 909 8,930 581 1,098 11,518 Net recoveries (charge-offs) 163 (71,863) (413) (2,323) (74,436) Balance, end of period $ 143,146 $ 219,714 $ 48,885 $ 6,926 $ 418,671 Reserve for unfunded commitments Balance, beginning of period $ 11,170 $ 7,841 $ 2,940 $ 1,257 $ 23,208 Recapture for credit losses on unfunded commitments (1,224) (1,294) (662) (100) (3,280) Balance, end of period 9,946 6,547 2,278 1,157 19,928 Total allowance for credit losses $ 153,092 $ 226,261 $ 51,163 $ 8,083 $ 438,599 Three Months Ended June 30, 2023 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 111,090 $ 239,146 $ 60,613 $ 6,615 $ 417,464 Provision for credit losses for loans and leases 7,829 30 5,269 2,088 15,216 Charge-offs (174) (32,036) (4) (1,264) (33,478) Recoveries 209 4,511 63 618 5,401 Net recoveries (charge-offs) 35 (27,525) 59 (646) (28,077) Balance, end of period $ 118,954 $ 211,651 $ 65,941 $ 8,057 $ 404,603 Reserve for unfunded commitments Balance, beginning of period $ 8,405 $ 6,381 $ 3,320 $ 923 $ 19,029 Provision (recapture) for credit losses on unfunded commitments 1,595 (560) (302) 65 798 Balance, end of period 10,000 5,821 3,018 988 19,827 Total allowance for credit losses $ 128,954 $ 217,472 $ 68,959 $ 9,045 $ 424,430 Six Months Ended June 30, 2023 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 77,813 $ 167,135 $ 50,329 $ 5,858 $ 301,135 Initial ACL on PCD loans acquired during the period 8,736 17,204 454 98 26,492 Provision for credit losses for loans and leases (1) 32,312 71,027 15,224 3,151 121,714 Charge-offs (174) (51,284) (252) (2,037) (53,747) Recoveries 267 7,569 186 987 9,009 Net recoveries (charge-offs) 93 (43,715) (66) (1,050) (44,738) Balance, end of period $ 118,954 $ 211,651 $ 65,941 $ 8,057 $ 404,603 Reserve for unfunded commitments Balance, beginning of period $ 7,207 $ 3,049 $ 3,196 $ 769 $ 14,221 Initial ACL recorded for unfunded commitments acquired during the period 2,257 3,066 268 176 5,767 Provision (recapture) for credit losses on unfunded commitments 536 (294) (446) 43 (161) Balance, end of period 10,000 5,821 3,018 988 19,827 Total allowance for credit losses $ 128,954 $ 217,472 $ 68,959 $ 9,045 $ 424,430 (1) Includes $88.4 million initial provision related to non-PCD loans acquired during the first quarter of 2023. Asset Quality and Non-Performing Loans and Leases The Bank manages asset quality and controls credit risk through diversification of the loan and lease portfolio and the application of policies designed to promote sound underwriting and loan and lease monitoring practices. The Bank's Credit Quality Administration department is charged with monitoring asset quality, establishing credit policies and procedures, and enforcing the consistent application of these policies and procedures across the Bank. Reviews of non-performing, past due loans and leases and larger credits, designed to identify potential charges to the allowance for credit losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers, the value of the applicable collateral, loan and lease loss experience, estimated loan and lease losses, growth in the loan and lease portfolio, prevailing economic conditions, and other factors. Loans and Leases Past Due and Non-Accrual Loans and Leases Typically, loans in a non-accrual status will not have an allowance for credit loss as they will be written down to their net realizable value or charged-off. However, the net realizable value for homogeneous leases and equipment finance agreements is determined by the LGD calculated by the CECL model and therefore leases and equipment finance agreements on non-accrual will have an allowance for credit losses until they become 181 days past due, at which time they are charged-off. The Company recognized no interest income on non-accrual loans and leases during the three and six months ended June 30, 2024 and 2023. The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of the dates presented: June 30, 2024 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing (2) Total Past Due Non-Accrual (2) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 972 $ 528 $ — $ 1,500 $ 4,961 $ 6,400,890 $ 6,407,351 Owner occupied term, net 1,586 1,946 — 3,532 32,623 5,194,356 5,230,511 Multifamily, net — — — — — 5,868,848 5,868,848 Construction & development, net — — — — — 1,946,693 1,946,693 Residential development, net — — — — — 269,106 269,106 Commercial Term, net 3,714 5,700 — 9,414 29,583 5,520,551 5,559,548 Lines of credit & other, net 4,676 4,590 145 9,411 2,166 2,547,056 2,558,633 Leases & equipment finance, net 16,659 20,564 5,633 42,856 23,237 1,635,850 1,701,943 Residential Mortgage, net (1) — 13,942 52,652 66,594 — 5,925,569 5,992,163 Home equity loans & lines, net 7,143 2,966 2,920 13,029 — 1,969,757 1,982,786 Consumer & other, net 551 461 220 1,232 — 191,173 192,405 Total, net of deferred fees and costs $ 35,301 $ 50,697 $ 61,570 $ 147,568 $ 92,570 $ 37,469,849 $ 37,709,987 (1) Includes government guaranteed mortgage loans that the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at June 30, 2024. (2) Includes government guaranteed portion of $27.9 million and $36.8 million for 90 days or greater and non-accrual loans, respectively. December 31, 2023 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing (2) Total Past Due Non-Accrual (2) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 1,270 $ 3,312 $ 437 $ 5,019 $ 4,359 $ 6,473,562 $ 6,482,940 Owner occupied term, net 3,078 2,191 433 5,702 24,330 5,165,573 5,195,605 Multifamily, net — — — — — 5,704,734 5,704,734 Construction & development, net — — — — — 1,747,302 1,747,302 Residential development, net — — — — — 323,899 323,899 Commercial Term, net 6,341 2,101 202 8,644 14,519 5,513,602 5,536,765 Lines of credit & other, net 1,647 1,137 66 2,850 2,760 2,424,517 2,430,127 Leases & equipment finance, net 22,217 24,178 7,965 54,360 28,403 1,646,749 1,729,512 Residential Mortgage, net (1) 282 9,410 26,331 36,023 — 6,121,143 6,157,166 Home equity loans & lines, net 4,401 2,373 3,782 10,556 — 1,927,610 1,938,166 Consumer & other, net 778 519 326 1,623 — 194,112 195,735 Total, net of deferred fees and costs $ 40,014 $ 45,221 $ 39,542 $ 124,777 $ 74,371 $ 37,242,803 $ 37,441,951 (1) Includes government guaranteed mortgage loans the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at December 31, 2023. (2) Includes government guaranteed portion of $12.3 million and $19.3 million for 90 days or greater and non-accrual loans, respectively. The following table summarizes the amortized cost of non-accrual loans for which there was no related ACL as of June 30, 2024 and December 31, 2023: (in thousands) June 30, 2024 December 31, 2023 Commercial real estate Non-owner occupied term, net $ 37 $ 52 Owner occupied term, net 1,604 1,352 Commercial Term, net 2,574 3,497 Total non-accrual loans with no related ACL (1) $ 4,215 $ 4,901 (1) Excludes non-accrual collateral-dependent loans and leases that have been written down to net realizable value without an associated ACL. Collateral-Dependent Loans and Leases Loans and leases are classified as collateral-dependent when it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due, and repayment is expected to be provided substantially through the operation or sale of the collateral. There have been no significant changes in the level of collateralization from the prior periods. The following table summarizes the amortized cost basis of the collateral-dependent loans and leases by the type of collateral securing the assets as of June 30, 2024: (in thousands) Residential Real Estate Commercial Real Estate General Business Assets Other Total Commercial real estate Non-owner occupied term, net $ — $ 4,242 $ — $ — $ 4,242 Owner occupied term, net — 29,621 — — 29,621 Commercial Term, net 2,397 — 16,124 3,931 22,452 Line of credit & other, net — 1,305 250 — 1,555 Leases & equipment finance, net — — 23,237 — 23,237 Residential Mortgage, net 74,806 — — — 74,806 Home equity loans & lines, net 2,431 — — — 2,431 Total, net of deferred fees and costs $ 79,634 $ 35,168 $ 39,611 $ 3,931 $ 158,344 Loan and Lease Modifications Made to Borrowers Experiencing Financial Difficulty Occasionally, the Company offers modifications of loans or leases to borrowers experiencing financial difficulty by providing term extensions, interest rate reductions, principal or interest forgiveness, an other-than-insignificant payment delay, or any combination of these modifications. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. For the loans included in the "combination" columns below, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: term extension, principal forgiveness, an other-than-insignificant payment delay, or an interest rate reduction. The ACL on modified loans or leases is measured using the same credit loss estimation methods used to determine the ACL for all other loans and leases held for investment. These methods incorporate the post-modification loan or lease terms, as well as defaults and charge-offs associated with historical modified loans and leases. The following tables present the amortized cost basis of loans and leases that were both experiencing financial difficulty and modified during the three and six months ended June 30, 2024 and 2023, by class and type of modification. The percentage of the amortized cost basis of loans and leases that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below. Three Months Ended June 30, 2024 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 4,041 $ — $ — $ 4,041 0.08 % Commercial Term, net 1,237 5,493 1,988 8,718 0.16 % Lines of credit & other, net — 3,728 319 4,047 0.16 % Leases & equipment finance, net — 866 — 866 0.05 % Residential Mortgage, net — 1,447 7,389 8,836 0.15 % Total loans and leases experiencing financial difficulty $ 5,278 $ 11,534 $ 9,696 $ 26,508 0.07 % Six Months Ended June 30, 2024 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Non-owner occupied term, net $ — $ — $ 17,577 $ 17,577 0.27 % Owner occupied term, net 4,041 — 530 4,571 0.09 % Commercial Term, net 1,237 5,944 1,988 9,169 0.16 % Lines of credit & other, net — 10,913 319 11,232 0.44 % Leases & equipment finance, net — 1,457 — 1,457 0.09 % Residential Mortgage, net — 2,456 14,355 16,811 0.28 % Total loans and leases experiencing financial difficulty $ 5,278 $ 20,770 $ 34,769 $ 60,817 0.16 % Three Months Ended June 30, 2023 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Combination - Term Extension and Other-than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 976 $ — $ — $ — $ 976 0.02 % Commercial Term, net 377 — — — 377 0.01 % Lines of credit & other, net — 1,850 — — 1,850 0.08 % Leases & equipment finance, net — 194 — — 194 0.01 % Residential Mortgage, net — 454 13,348 1,261 15,063 0.24 % Total loans and leases experiencing financial difficulty $ 1,353 $ 2,498 $ 13,348 $ 1,261 $ 18,460 0.05 % Six Months Ended June 30, 2023 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Combination - Interest Rate Reduction and Term Extension Combination - Term Extension and Other-than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 976 $ — $ — $ — $ — $ 976 0.02 % Commercial Term, net 377 — — — — 377 0.01 % Lines of credit & other, net — 2,945 — — — 2,945 0.13 % Leases & equipment finance, net — 603 — — — 603 0.03 % Residential Mortgage, net — 454 22,017 — 2,934 25,405 0.40 % Home equity loans & lines, net — — — 244 — 244 0.01 % Total loans and leases experiencing financial difficulty $ 1,353 $ 4,002 $ 22,017 $ 244 $ 2,934 $ 30,550 0.08 % Three Months Ended June 30, 2024 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 3.79%. Commercial Term, net Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. Lines of credit & other, net Weighted average term extension of 9 months to the life of the loans. Deferred $48,000 of principal and interest payments. Leases & equipment finance, net Weighted average term extension of 11 months to the life of the loans and leases. Residential Mortgage, net Weighted average term extension of 4.7 years to the life of the loans. Deferred $531,000 of principal and interest payments. Six Months Ended June 30, 2024 Loan Type Financial Effect Commercial real estate Non-owner occupied term, net Deferred $4.0 million of principal and interest payments. Owner occupied term, net Reduced weighted average interest rate by 3.79%. Deferred $51,000 of principal and interest payments. Commercial Term, net Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. Lines of credit & other, net Weighted average term extension of 7 months to the life of the loans. Deferred $48,000 of principal and interest payments. Leases & equipment finance, net Weighted average term extension of 10 months to the life of the loans and leases. Residential Mortgage, net Weighted average term extension of 8.3 years to the life of the loans. Deferred $1.0 million of principal and interest payments. Three Months Ended June 30, 2023 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 2.41%. Commercial Term, net Reduced weighted average interest rate by 4.50%. Lines of credit & other, net Weighted average term extension of 6 months to the life of the loans. Leases & equipment finance, net Weighted average term extension of 10 months to the life of the loans. Residential Mortgage, net Weighted average term extension of 6.4 years to the life of the loans. Deferred $916,000 of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.9 years to the life of the loans, and deferred $37,000 of principal and interest payments. Six Months Ended June 30, 2023 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 2.41%. Commercial Term, net Reduced weighted average interest rate by 4.50%. Lines of credit & other, net Weighted average term extension of 8 months to the life of the loans. Leases & equipment finance, net Weighted average term extension of 9 months to the life of the loans. Residential Mortgage, net Weighted average term extension of 6.4 years to the life of the loans. Deferred $1.2 million of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.4 years to the life of the loans, and deferred $156,000 of principal payment and interest payments. Home equity loans & lines, net Weighted average term extension of 6.9 years to the life of the loan and decreased the weighted average interest rate by 3.44%. The Company closely monitors the performance of loans and leases that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Loans and leases are considered to be in payment default at 90 or more days past due. The following tables present the amortized cost basis of modified loans as of June 30, 2024 that, within twelve months of the modification date, experienced a subsequent default during the periods presented: Three Months Ended June 30, 2024 (in thousands) Interest rate reduction Term Extension Other than insignificant payment delay Total Commercial real estate Owner occupied term, net $ 3,064 $ — $ — $ 3,064 Commercial Lines of credit & other, net — 250 — 250 Residential Mortgage, net — 300 743 1,043 Total loans and leases experiencing financial difficulty with a subsequent default $ 3,064 $ 550 $ 743 $ 4,357 Six Months Ended June 30, 2024 (in thousands) Interest rate reduction Term Extension Other than insignificant payment delay Total Commercial real estate Owner occupied term, net $ 3,064 $ — $ — $ 3,064 Commercial Lines of credit & other, net — 250 — 250 Residential Mortgage, net — 300 743 1,043 Total loans and leases experiencing financial difficulty with a subsequent default $ 3,064 $ 550 $ 743 $ 4,357 For the three and six months ended June 30, 2023, all modified loans and leases were current and there were no loan or lease modifications made to borrowers experiencing financial difficulty that subsequently defaulted. The following tables present an age analysis of loans and leases as of June 30, 2024 that have been modified within the prior twelve months and as of June 30, 2023 that have been modified since January 1, 2023, the date of the adoption of ASU 2022-02: June 30, 2024 Loan Type Current Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or Greater Past Due Nonaccrual Total (in thousands) Commercial real estate Non-owner occupied term, net $ 4 |
Intangible Assets, Goodwill and
Intangible Assets, Goodwill and Other | 6 Months Ended |
Jun. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Other Intangible Assets The Company had $1.0 billion in goodwill as of June 30, 2024 and December 31, 2023, which represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed in connection with the Merger. Goodwill is not amortized but is evaluated for potential impairment on an annual basis or whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company performed its annual impairment assessment as of October 31, 2023. No events or circumstances since the annual impairment test were noted that would indicate it was more likely than not that a goodwill impairment exists. Core deposit intangible assets values were determined based on the present value of the expected cost savings attributable to the core deposit funding relative to an alternative source of funding. The intangible assets are being amortized on an accelerated basis over a period of 10 years. No impairment losses have been recognized in the periods presented. The following table summarizes other intangible assets as of the dates presented: (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount As of June 30, 2024 $ 764,791 $ (222,433) $ 542,358 As of December 31, 2023 $ 764,791 $ (161,112) $ 603,679 Amortization expense recognized on intangible assets was $29.2 million and $61.3 million for the three and six months ended June 30, 2024, respectively, and $35.6 million and $48.2 million for the three and six months ended June 30, 2023, respectively. The table below presents the forecasted amortization expense for intangible assets as of June 30, 2024: (in thousands) Year Expected Amortization Remainder of 2024 $ 58,110 2025 105,458 2026 92,545 2027 79,632 2028 66,719 Thereafter 139,894 Total intangible assets $ 542,358 |
Residential Mortgage Servicing
Residential Mortgage Servicing Rights | 6 Months Ended |
Jun. 30, 2024 | |
Transfers and Servicing [Abstract] | |
Residential Mortgage Servicing Rights | Residential Mortgage Servicing Rights The Company measures its MSR asset at fair value with changes in fair value reported in residential mortgage banking revenue, net. The following table presents the changes in the Company's residential MSR for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Balance, beginning of period $ 110,444 $ 178,800 $ 109,243 $ 185,017 Additions for new MSR capitalized 1,540 1,168 2,777 2,769 Changes in fair value: Changes due to collection/realization of expected cash flows over time (3,183) (4,797) (6,336) (9,678) Changes due to valuation inputs or assumptions (1) 1,238 (2,242) 4,355 (5,179) Balance, end of period $ 110,039 $ 172,929 $ 110,039 $ 172,929 (1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates. Information related to the serviced loan portfolio as of the dates presented is as follows: (dollars in thousands) June 30, 2024 December 31, 2023 Balance of loans serviced for others $ 8,120,046 $ 8,175,664 MSR as a percentage of serviced loans 1.36 % 1.34 % |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
Borrowings | Borrowings The Company had FHLB advances and FRB borrowings outstanding as of June 30, 2024 with carrying values of $3.9 billion, compared to $4.0 billion at December 31, 2023. The Bank's FHLB advances were $2.4 billion as of June 30, 2024, as compared to $3.8 billion at December 31, 2023. The FHLB advances have fixed interest rates ranging from 5.10% to 5.25% and mature in 2024 through 2025. The FHLB requires the Bank to maintain a required level of investment in FHLB and sufficient collateral to qualify for secured advances. The Bank has pledged as collateral for these secured advances all FHLB stock, all funds on deposit with the FHLB, investment and commercial real estate portfolios, accounts, general intangibles, equipment, and other property in which a security interest can be granted by the Bank to the FHLB. As of June 30, 2024, the Bank had FRB BTFP borrowings of $1.6 billion, as compared to $200.0 million at December 31, 2023. The Bank's FRB BTFP borrowings have interest rates ranging from 4.76% to 4.93% and mature in January 2025. The Bank has pledged investment securities as collateral for these borrowings. The ability to take new advances under this program ended in March 2024. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Financial Instruments with Off-Balance-Sheet Risk — The Company's financial statements do not reflect various commitments and contingent liabilities that arise in the normal course of the Bank's business and involve elements of credit, liquidity, and interest rate risk. The following table presents a summary of the Bank's commitments and contingent liabilities: (in thousands) June 30, 2024 Commitments to extend credit $ 10,763,609 Forward sales commitments $ 82,618 Commitments to originate residential mortgage loans held for sale $ 54,322 Standby letters of credit $ 217,245 The Bank is a party to financial instruments with off-balance sheet credit risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. These instruments involve elements of credit and interest-rate risk similar to the risk involved in on-balance sheet items. The contract or notional amounts of these instruments reflect the extent of the Bank's involvement in particular classes of financial instruments. The Bank's exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit, and financial guarantees written, is represented by the contractual notional amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. There were no financial guarantees in connection with standby letters of credit that the Bank was required to perform on during the three and six months ended June 30, 2024 and 2023. As of June 30, 2024, approximately $202.1 million of standby letters of credit expire within one year, and $15.1 million expire thereafter. Residential mortgage loans sold into the secondary market are sold with limited recourse against the Company, meaning that the Company may be obligated to repurchase or otherwise reimburse the investor for incurred losses on any loans that suffer an early payment default, are not underwritten in accordance with investor guidelines or are determined to have pre-closing borrower misrepresentations. Legal Proceedings and Regulatory Matters— The Company is subject to litigation in court and arbitral proceedings, as well as proceedings, investigations, examinations, and other actions brought or considered by governmental and self-regulatory agencies. The Company is party to various pending and threatened claims and legal proceedings arising in the normal course of business activities, some of which involve claims for substantial or uncertain amounts. In September 2023, 34 related entities (the “iCap Entities”) that maintained their primary deposit accounts with the Bank filed jointly-administered Chapter 11 bankruptcies in the United States Bankruptcy Court for the Eastern District of Washington. The Bank was served with a request for production of account records and produced such records through counsel. Concurrently, in pleadings filed in the Bankruptcy Court for the Eastern District of Washington on behalf of investors who claimed losses of approximately $250.0 million, the Bank was identified as a party against which claims may be brought in connection with the iCap Entities’ alleged operation of Ponzi schemes prior to the bankruptcy proceedings described above. The potential claims against the Bank and the amount of any alleged damages have not been identified. To the extent suits or actions are commenced, the Bank intends to vigorously defend any and all claims. In August 2020, a class action complaint was filed in the United States District Court (ND Cal) alleging aiding and abetting claims against the Bank associated with the failure of two commercial real estate investment companies, Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc., allegedly effected through a Ponzi scheme. Both companies maintained their primary deposit account relationship with the Bank’s Novato, Marin County, California branch office, acquired by the Bank from Circle Bank. The Bank's motion to dismiss was denied in January 2021, and its motion for summary judgment was denied in December 2022, and at the same time the District Court certified the plaintiffs’ proposed class. Two other related cases were filed in 2023: one case alleges similar claims by two investors and was filed in May 2023 in Marin County Superior Court; and another case was filed in June 2023 in the United States District Court (ND Cal) alleging claims by ten investors with different investments than the class members. Plaintiffs in the two District Court cases allege damages resulting from the scheme of between $386.2 million and $429.8 million, which includes prejudgment interest and does not account for prior bankruptcy recoveries of approximately $110.0 million to date. The Superior Court case does not yet have a clear estimate of damages. Trial in the District Court cases is anticipated to be scheduled in 2025. Filing of these cases follows an SEC non-public investigation of Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc. that commenced on May 28, 2020. The Bank intends to defend these matters vigorously and believes that it has meritorious defenses. As previously disclosed, in 2023, the Bank was informed by one of its technology service providers (the "Vendor") that a widely reported security incident involving MOVEit, a filesharing software used globally by government agencies, enterprise corporations, and financial institutions, resulted in the unauthorized acquisition by a third party of the names and social security numbers or tax identification numbers of certain of the Bank’s consumer and small business customers (the "Vendor Incident"). Other than the information described above, no account information for accounts at the Bank was compromised as a result of the Vendor Incident, and no information from the Bank’s commercial customers was involved in the Vendor Incident. On June 22, 2023, the Bank sent an email to potentially affected consumer and small business customers informing them of the Vendor Incident. Between August 11, 2023, and August 15, 2023, the Vendor, on behalf of the Bank, initiated formal notice via U.S. Mail to the 429,252 Bank customers whose information was involved in the Vendor Incident. The Bank and the Vendor also notified applicable federal and state regulators regarding the Vendor Incident. Beginning on August 18, 2023, some of the individuals who were notified of the Vendor Incident filed lawsuits against the Bank seeking monetary recovery and other relief on behalf of themselves and one or more putative classes of other individuals similarly situated. Two such cases were filed in federal court (the United States District Court for the Western District of Washington), one of which was later voluntarily dismissed without prejudice. Five such cases were filed in state court in Washington (the Washington Superior Court for Pierce County) and one case in state court in California (the California Superior Court for Contra Costa County). The state court cases were subsequently removed to federal court by the Bank. On October 4, 2023, the United States Judicial Panel on Multidistrict Litigation, in view of the large number of lawsuits arising out of the MOVEit data incident in federal courts across the United States, initiated a multidistrict litigation (“MDL”) for these cases to allow such cases to be transferred to one court for pre-trial proceedings. The MDL is titled In Re: MOVEit Customer Data Security Breach Litigation , MDL No. 3083 and is pending in the United States District Court for the District of Massachusetts as MDL No. 1:23-md-03083-ADB-PGL. All seven cases against the Bank have been transferred to the MDL as of January 29, 2024. The cases collectively allege claims for negligence, negligence per se , breach of contract, breach of implied contract, breach of third-party beneficiary contract, breach of fiduciary duty, invasion of privacy, breach of the covenant of good faith and fair dealing, unjust enrichment and violation of certain statutes, namely the Washington Consumer Protection Act, the California Consumer Legal Remedies Act, the California Consumer Privacy Act, and the California Unfair Competition Law. The Bank has also received claims by or on behalf of individuals in connection with the Vendor Incident. Such claims have the potential to give rise to additional litigation. The Bank has engaged defense counsel and intends to vigorously defend against these suits and any similar or related suits or claims. The Bank has notified relevant insurance carriers and business counterparties and continues to reserve all of its relevant rights to indemnity, defense, contribution, and other relief in connection with these matters. At least quarterly, liabilities and contingencies are assessed in connection with all outstanding or new legal matters, utilizing the most recent information available. If it is determined that a loss from a matter is probable and that the amount of the loss can be reasonably estimated, an accrual for the loss is established. Once established, each accrual is adjusted as appropriate to reflect any subsequent developments in the specific legal matter. It is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Actual losses may be in excess of any established accrual or the range of reasonably possible loss. Management's estimate will change from time to time. For matters where a loss is not probable, or the amount of the loss cannot be estimated, no accrual is established. The Company has $6.3 million accrued related to legal matters as of June 30, 2024. The resolution and the outcome of legal claims are unpredictable, exacerbated by factors including the following: damages sought are unsubstantiated or indeterminate; it is unclear whether a case brought as a class action will be allowed to proceed on that basis; discovery or motion practice is not complete; the proceeding is not yet in its final stages; the matters present legal uncertainties; there are significant facts in dispute; there are a large number of parties, including multiple defendants; or there is a wide range of potential results. Any estimate or determination relating to the future resolution of legal and regulatory matters is uncertain and involves significant judgment. The Company is usually unable to determine whether a favorable or unfavorable outcome is remote, reasonably likely or probable, or to estimate the amount or range of a probable or reasonably likely loss until relatively late in the process. Although there can be no assurance as to the ultimate outcome of a specific legal matter, the Company believes it has meritorious defenses to the claims asserted against us in our currently outstanding legal matters, and the Company intends to continue to vigorously defend ourselves. The Company will consider settlement of legal matters when, in management's judgment, it is in the best interests of the Company and its shareholders. Based on information currently available, advice of counsel, available insurance coverage, and established reserves, the Company believes that the eventual outcome of the actions against us will not have a material adverse effect on the Company's consolidated financial statements. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to the Company's results of operations for any particular reporting period. Concentrations of Credit Risk — The Bank grants real estate mortgage, real estate construction, commercial, agricultural and installment loans and leases to customers in Oregon, Washington, California, Idaho, Nevada, Arizona, Colorado, and Utah. In management's judgment, a concentration exists in real estate-related loans, which represented approximately 75% of the Bank's loan and lease portfolio for June 30, 2024 and December 31, 2023. Commercial real estate concentrations are managed to ensure geographic and business diversity, primarily in our footprint. As of June 30, 2024 and December 31, 2023, the multifamily portfolio, including construction, represented approximately 20% and 19% of the total loan portfolio, respectively. The office portfolio represented approximately 8% of the total loan portfolio as of both June 30, 2024 and December 31, 2023. Although management believes such concentrations have no more than the normal risk of collectability, a substantial decline in the economy in general, material increases in interest rates, changes in tax policies, tightening credit or refinancing markets, or a decline in real estate values in the Bank's primary market areas in particular, could have an adverse impact on the repayment of these loans. Personal and business incomes, proceeds from the sale of real property, or proceeds from refinancing represent the primary sources of repayment for a majority of these loans. The Bank recognizes the credit risks inherent in dealing with other depository institutions. Accordingly, to prevent excessive exposure to any single correspondent, the Bank has established general standards for selecting correspondent banks as well as internal limits for allowable exposure to any single correspondent. In addition, the Bank has an investment policy that sets forth limitations that apply to all investments with respect to credit rating and concentrations with an issuer. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Derivatives The Bank may use derivatives to hedge the risk of changes in the fair values of interest rate lock commitments, residential mortgage loans held for sale, and MSRs. None of the Company's derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in income. The Company utilizes forward interest rate contracts in its derivative risk management strategy. The Bank enters into forward delivery contracts to sell residential mortgage loans or mortgage-backed securities to broker-dealers at specific prices and dates in order to hedge the interest rate risk in its portfolio of mortgage loans held for sale and its residential mortgage interest rate lock commitments. Credit risk associated with forward contracts is limited to the replacement cost of those forward contracts in a gain position. There were no counterparty default losses on forward contracts in the three and six months ended June 30, 2024 and 2023. Market risk with respect to forward contracts arises principally from changes in the value of contractual positions due to changes in interest rates. The Bank limits its exposure to market risk by monitoring differences between commitments to customers and forward contracts with broker-dealers. In the event the Company has forward delivery contract commitments in excess of available mortgage loans, the Company completes the transaction by either paying or receiving a fee to or from the broker-dealer equal to the increase or decrease in the market value of the forward contract. As of June 30, 2024 and December 31, 2023, the Bank had commitments to originate mortgage loans held for sale totaling $54.3 million and $20.6 million, respectively, and forward sales commitments of $82.6 million and $39.5 million, respectively, which are used to hedge both on-balance sheet and off-balance sheet exposures. The Bank purchases interest rate futures and forward settling mortgage-backed securities to hedge the interest rate risk of MSRs. As of June 30, 2024, the Bank had $159.0 million notional of interest rate futures contracts and $23.0 million of mortgage-backed securities related to this program. As of December 31, 2023, the Bank had $150.0 million notional of interest rate futures contracts and $36.0 million of mortgage-backed securities related to this program. The Bank executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net risk exposure. As of June 30, 2024, the Bank had interest rate swap assets and interest rate swap liabilities, both with a notional amount of $4.5 billion related to this program. As of December 31, 2023, the Bank had interest rate swap assets and interest rate swap liabilities, both with a notional amount of $4.7 billion related to this program. The Bank has collateral posting requirements for initial margins with its clearing members and clearing houses and has been required to post collateral against its obligations under these agreements of $89.1 million and $88.3 million as of June 30, 2024 and December 31, 2023, respectively. The Bank's clearable interest rate swap derivatives are cleared through the Chicago Mercantile Exchange and London Clearing House. These clearing houses characterize the variation margin payments, for certain derivative contracts that are referred to as settled-to-market, as settlements of the derivative's mark-to-market exposure and not collateral. The Company accounts for the variation margin as an adjustment to cash collateral, as well as a corresponding adjustment to the derivative asset and liability. As of June 30, 2024 and December 31, 2023, the variation margin netting adjustments for centrally cleared interest rate swaps consisted of derivative asset adjustments of $197.4 million and $166.3 million, respectively. The Bank also has solely executed swaps indexed to Term SOFR, which are not clearable. These swaps are executed on a bilateral basis with a counterparty bank. There is no initial margin posted for bilateral swaps, but cash collateral equivalent to variation margin is exchanged to cover the mark-to-market exposure on a daily basis. The Bank also executes foreign currency hedges as a service for customers. These foreign currency hedges are then offset with hedges with other third-party banks to limit the Bank's risk exposure. The Bank's derivative assets are included in other assets on the Condensed Consolidated Balance Sheets, while the derivative liabilities are included in other liabilities on the Condensed Consolidated Balance Sheets. The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of the dates presented: (in thousands) Asset Derivatives Liability Derivatives Derivatives not designated as hedging instrument June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Interest rate lock commitments $ — $ — $ 452 $ 137 Interest rate futures — 3,745 500 — Interest rate forward sales commitments 178 9 243 535 Interest rate swaps 117,880 33,874 311,192 260,064 Foreign currency derivatives 230 457 155 355 Total derivative assets and liabilities $ 118,288 $ 38,085 $ 312,542 $ 261,091 The gains and losses on the Company's mortgage banking derivatives are included in mortgage banking revenue. The gains and losses on the Company's interest rate swaps and foreign currency derivatives are included in other income. The following table summarizes the types of derivatives and the gains (losses) recorded during the periods indicated: (in thousands) Three Months Ended Six Months Ended Derivatives not designated as hedging instrument June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Interest rate lock commitments $ (467) $ (188) $ (314) $ (83) Interest rate futures (1,611) (7,636) (5,882) (4,986) Interest rate forward sales commitments 467 785 513 (218) Interest rate swaps 424 1,288 1,621 (2,255) Foreign currency derivatives 196 (109) 238 (79) Total derivative losses $ (991) $ (5,860) $ (3,824) $ (7,621) The Company is party to interest rate swap contracts that are subject to enforceable master netting arrangements or similar agreements. Under these agreements, the Company may have the right to net settle multiple contracts with the same counterparty. The following table shows the gross interest rate swaps in the Condensed Consolidated Balance Sheets and the respective collateral received or pledged in the form of cash or other financial instruments. The collateral amounts are limited to the outstanding balances of the related asset or liability. Therefore, instances of over collateralization are not shown. Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets/Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets/Liabilities presented in the Condensed Consolidated Balance Sheets Financial Instruments Collateral Received/Posted Net Amount June 30, 2024 Derivative Assets Interest rate swaps $ 117,880 $ — $ 117,880 $ 5,226 $ 100,000 $ 12,654 Derivative Liabilities Interest rate swaps $ 311,192 $ — $ 311,192 $ 5,226 $ — $ 305,966 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2024 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share The following is a computation of basic and diluted earnings per common share for the periods indicated: Three Months Ended Six Months Ended (in thousands, except per share data) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net income $ 120,144 $ 133,377 $ 244,224 $ 119,339 Weighted average number of common shares outstanding - basic 208,498 207,977 208,379 182,325 Effect of potentially dilutive common shares (1) 513 568 620 535 Weighted average number of common shares outstanding - diluted 209,011 208,545 208,999 182,860 Earnings per common share: Basic $ 0.58 $ 0.64 $ 1.17 $ 0.65 Diluted $ 0.57 $ 0.64 $ 1.17 $ 0.65 (1) Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method. The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Restricted stock awards and units 571 1,001 588 756 |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement The following table presents estimated fair values of the Company's financial instruments as of the dates presented, whether or not recognized or recorded at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: June 30, 2024 December 31, 2023 (in thousands) Level Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents 1 $ 2,068,831 $ 2,068,831 $ 2,162,534 $ 2,162,534 Equity and other investment securities 1,2 77,221 77,221 76,995 76,995 Investment securities available for sale 1,2 8,503,000 8,503,000 8,829,870 8,829,870 Investment securities held to maturity 3 2,203 2,885 2,300 3,025 Loans held for sale 2 56,310 56,310 30,715 30,715 Loans and leases, net 2,3 37,291,316 35,831,050 37,001,080 35,810,989 Restricted equity securities 1 116,274 116,274 179,274 179,274 Residential mortgage servicing rights 3 110,039 110,039 109,243 109,243 Bank-owned life insurance 1 686,485 686,485 680,948 680,948 Derivatives 2,3 118,288 118,288 38,085 38,085 Financial liabilities: Demand, money market, and savings deposits 1 $ 35,113,311 $ 35,113,311 $ 35,379,451 $ 35,379,451 Time deposits 2 6,409,961 6,384,569 6,227,569 6,201,519 Securities sold under agreements to repurchase 2 197,860 197,860 252,119 252,119 Borrowings 2 3,900,000 3,892,965 3,950,000 3,950,037 Junior subordinated debentures, at fair value 3 310,187 310,187 316,440 316,440 Junior and other subordinated debentures, at amortized cost 3 107,781 97,551 107,895 97,695 Derivatives 2,3 312,542 312,542 261,091 261,091 Fair Value of Assets and Liabilities Measured on a Recurring Basis The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of the periods presented: (in thousands) June 30, 2024 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 62,154 $ 43,695 $ 18,459 $ — Equity securities held in rabbi trusts 15,067 15,067 — — Investment securities available for sale U.S. Treasury and agencies 1,467,222 374,667 1,092,555 — Obligations of states and political subdivisions 1,034,523 — 1,034,523 — Mortgage-backed securities and collateralized mortgage obligations 6,001,255 — 6,001,255 — Loans held for sale, at fair value 56,310 — 56,310 — Loans and leases, at fair value 174,021 — 174,021 — Residential mortgage servicing rights, at fair value 110,039 — — 110,039 Derivatives Interest rate forward sales commitments 178 — 178 — Interest rate swaps 117,880 — 117,880 — Foreign currency derivatives 230 — 230 — Total assets measured at fair value $ 9,038,879 $ 433,429 $ 8,495,411 $ 110,039 Financial liabilities: Junior subordinated debentures, at fair value $ 310,187 $ — $ — $ 310,187 Derivatives Interest rate lock commitments 452 — — 452 Interest rate futures 500 — 500 — Interest rate forward sales commitments 243 — 243 — Interest rate swaps 311,192 — 311,192 — Foreign currency derivatives 155 — 155 — Total liabilities measured at fair value $ 622,729 $ — $ 312,090 $ 310,639 (in thousands) December 31, 2023 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 63,298 $ 44,839 $ 18,459 $ — Equity securities held in rabbi trusts 13,697 13,697 — — Investment securities available for sale U.S. Treasury and agencies 1,478,392 373,664 1,104,728 — Obligations of states and political subdivisions 1,072,105 — 1,072,105 — Mortgage-backed securities and collateralized mortgage obligations 6,279,373 — 6,279,373 — Loans held for sale, at fair value 30,715 — 30,715 — Loans and leases, at fair value 275,140 — 275,140 — Residential mortgage servicing rights, at fair value 109,243 — — 109,243 Derivatives Interest rate futures 3,745 — 3,745 — Interest rate forward sales commitments 9 — 9 — Interest rate swaps 33,874 — 33,874 — Foreign currency derivatives 457 — 457 — Total assets measured at fair value $ 9,360,048 $ 432,200 $ 8,818,605 $ 109,243 Financial liabilities: Junior subordinated debentures, at fair value $ 316,440 $ — $ — $ 316,440 Derivatives Interest rate lock commitments 137 — — 137 Interest rate forward sales commitments 535 — 535 — Interest rate swaps 260,064 — 260,064 — Foreign currency derivatives 355 — 355 — Total liabilities measured at fair value $ 577,531 $ — $ 260,954 $ 316,577 The following methods were used to estimate the fair value of each class of financial instrument that is carried at fair value in the tables above: Securities — Fair values for investment securities are based on quoted market prices when available or through the use of alternative approaches, such as matrix or model pricing, or broker indicative bids, when market quotes are not readily accessible or available. Management periodically reviews the pricing information received from the third-party pricing service and compares it to a secondary pricing service, evaluating significant price variances between services to determine an appropriate estimate of fair value to report. Loans Held for Sale — Fair value for residential mortgage loans originated as held for sale is determined based on quoted secondary market prices for similar loans, including the implicit fair value of embedded servicing rights. For loans not originated as held for sale, these loans are accounted for at lower of cost or market, with the fair value estimated based on the expected sales price. Loans and leases — Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, including commercial, real estate and consumer loans. Each loan category is further segregated by fixed and adjustable-rate loans. The fair value of loans is calculated by discounting expected cash flows at rates at which similar loans are currently being made. These amounts are discounted further by embedded probable losses expected to be realized in the portfolio. For loans originated as held for sale and transferred into loans held for investment, the fair value is determined based on quoted secondary market prices for similar loans. Residential Mortgage Servicing Rights — The fair value of MSR is estimated using a DCF model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income net of servicing costs. This model is periodically validated by an independent model validation group. The model assumptions and the MSR fair value estimates are also compared to observable trades of similar portfolios as well as to MSR broker valuations and industry surveys, as available. Management believes the significant inputs utilized are indicative of those that would be used by market participants. Junior Subordinated Debentures — The fair value of junior subordinated debentures is estimated using an income approach valuation technique. The significant unobservable input utilized in the estimation of fair value of these instruments is the credit risk adjusted spread. The credit risk adjusted spread represents the non-performance risk of the liability, contemplating the inherent risk of the obligation. The Company periodically utilizes a valuation firm to determine or validate the reasonableness of inputs and factors that are used to determine the fair value. The ending carrying (fair) value of the junior subordinated debentures measured at fair value represents the estimated amount that would be paid to transfer these liabilities in an orderly transaction among market participants. Due to credit concerns in the capital markets and inactivity in the trust preferred markets that have limited the observability of market spreads, the Company has classified this as a Level 3 fair value measurement. Derivative Instruments — The fair value of the interest rate lock commitments, interest rate futures, and forward sales commitments are estimated using quoted or published market prices for similar instruments, adjusted for factors such as pull-through rate assumptions based on historical information, where appropriate. The pull-through rate assumptions are considered Level 3 valuation inputs and are significant to the interest rate lock commitment valuation; as such, the interest rate lock commitment derivatives are classified as Level 3. The fair value of the interest rate swaps is determined using a DCF technique incorporating credit valuation adjustments to reflect non-performance risk in the measurement of fair value. Although the Bank has determined that the majority of the inputs used to value its interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the CVA associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of June 30, 2024, the Bank has assessed the significance of the impact of the CVA on the overall valuation of its interest rate swap positions and has determined that the CVA are not significant to the overall valuation of its interest rate swap derivatives. As a result, the Bank has classified its interest rate swap and futures derivative valuations in Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis as of June 30, 2024: Financial Instrument Fair Value Valuation Technique Unobservable Input Range of Inputs Weighted Average Assets: Residential mortgage servicing rights $ 110,039 Discounted cash flow Constant prepayment rate 6.03% - 27.36% 6.76% Discount rate 9.50% - 16.10% 10.23% Liabilities: Interest rate lock commitments, net $ 452 Internal pricing model Pull-through rate 69.73% - 100.00% 88.18% Junior subordinated debentures $ 310,187 Discounted cash flow Credit spread 2.05% - 6.20% 3.83% Generally, increases in the constant prepayment rate or the discount rate utilized in the fair value measurement of the residential mortgage servicing rights will result in a decrease in fair value. Conversely, decreases in the constant prepayment rate or the discount rate will result in an increase in fair value. An increase in the pull-through rate utilized in the fair value measurement of the interest rate lock commitment derivative will result in an increase in the fair value measurement. Conversely, a decrease in the pull-through rate will result in a decrease in the fair value measurement. Management believes that the credit risk adjusted spread utilized in the fair value measurement of the junior subordinated debentures carried at fair value is indicative of the non-performance risk premium a willing market participant would require under current market conditions, which is an inactive market. Generally, an increase in the credit spread will result in a decrease in the estimated fair value. Conversely, a decrease in the credit spread will result in an increase in the estimated fair value. The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the periods indicated: Three Months Ended Three Months Ended June 30, 2024 June 30, 2023 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 110,444 $ 16 $ (309,544) $ 178,800 $ 137 $ (297,721) Change included in earnings (1,945) (70) (7,548) (7,039) (134) (7,049) Change in fair values included in comprehensive income/loss — — (384) — — (14,638) Purchases and issuances 1,540 (1,238) — 1,168 (316) — Sales and settlements — 840 7,289 — 262 6,536 Ending balance $ 110,039 $ (452) $ (310,187) $ 172,929 $ (51) $ (312,872) Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period $ 1,238 $ (452) $ (7,548) $ (2,242) $ (51) $ (7,049) Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period $ — $ — $ (384) $ — $ — $ (14,638) Six Months Ended Six Months Ended June 30, 2024 June 30, 2023 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 109,243 $ (137) $ (316,440) $ 185,017 $ 32 $ (323,639) Change included in earnings (1,981) (86) (15,131) (14,857) (166) (13,728) Change in fair values included in comprehensive income/loss — — 6,069 — — 11,174 Purchases and issuances 2,777 (1,191) — 2,769 22 — Sales and settlements — 962 15,315 — 61 13,321 Ending balance $ 110,039 $ (452) $ (310,187) $ 172,929 $ (51) $ (312,872) Change in unrealized gains or losses for the period included in earnings for assets held at end of period $ 4,355 $ (452) $ (15,131) $ (5,179) $ (51) $ (13,728) Change in unrealized gains or losses for the period included in other comprehensive income for assets held at end of period $ — $ — $ 6,069 $ — $ — $ 11,174 Changes in residential mortgage servicing rights carried at fair value are recorded in residential mortgage banking revenue within non-interest income. Gains (losses) on interest rate lock commitments carried at fair value are recorded in residential mortgage banking revenue within non-interest income. The contractual interest expense on the junior subordinated debentures is recorded on an accrual basis as interest on junior subordinated debentures within interest expense. Settlements related to the junior subordinated debentures represent the payment of accrued interest that is embedded in the fair value of these liabilities. The change in fair value of junior subordinated debentures is attributable to the change in the instrument specific credit risk; accordingly, unrealized losses on fair value of junior subordinated debentures of $384,000 for the three months ended June 30, 2024 and unrealized gains of $6.1 million for the six months ended June 30, 2024, were recorded net of tax as other comprehensive losses of $284,000 and other comprehensive gains of $4.5 million, respectively. Comparatively, unrealized losses of $14.6 million and unrealized gains of $11.2 million were recorded net of tax as other comprehensive losses of $10.8 million and comprehensive gains of $8.3 million for the three and six months ended June 30, 2023, respectively. The change recorded for the three months ended June 30, 2024 was due to an increase in the implied forward curve, partially offset by a higher shift in the spot curve and an increase in the credit spread. The change recorded for the six months ended June 30, 2024 was mainly due to an increase in the spot curve and credit spread, partially offset by an increase in the implied forward curve. Fair Value of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis From time to time, certain assets are measured at fair value on a nonrecurring basis. These adjustments to fair value generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment, typically on collateral-dependent loans. The following tables present information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. June 30, 2024 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 14,828 $ — $ — $ 14,828 Total assets measured at fair value on a nonrecurring basis $ 14,828 $ — $ — $ 14,828 December 31, 2023 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 5,036 $ — $ — $ 5,036 Total assets measured at fair value on a nonrecurring basis $ 5,036 $ — $ — $ 5,036 The following table presents the losses resulting from nonrecurring fair value adjustments for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Loans and leases $ 30,704 $ 29,547 $ 58,878 $ 48,281 Total losses from nonrecurring measurements $ 30,704 $ 29,547 $ 58,878 $ 48,281 The following provides a description of the valuation technique and inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis. Unobservable inputs and qualitative information about the unobservable inputs are not presented as the fair value is determined by third-party information for loans and leases. The loans and leases amounts above represent collateral-dependent loans and leases that have been adjusted to fair value. When a loan or non-homogeneous lease is identified as collateral-dependent, the Bank measures the impairment using the current fair value of the collateral, less estimated selling costs. Depending on the characteristics of a loan or lease, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases the value of the collateral may be estimated as having little to no value. When a homogeneous lease or equipment finance agreement becomes 181 days past due, it is determined that the collateral has little to no value. If it is determined that the value of the collateral-dependent loan or lease is less than its recorded investment, the Bank recognizes this impairment and adjusts the carrying value of the loan or lease to fair value, less costs to sell, through the ACL. The loss represents charge-offs on collateral-dependent loans and leases for fair value adjustments based on the fair value of collateral. Fair Value Option The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of the dates presented: June 30, 2024 December 31, 2023 (in thousands) Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Loans held for sale $ 56,310 $ 54,908 $ 1,402 $ 30,715 $ 29,629 $ 1,086 Loans $ 174,021 $ 208,147 $ (34,126) $ 275,140 $ 320,397 $ (45,257) The Bank elected to measure certain residential mortgage loans held for sale under the fair value option, with interest income on these loans held for sale reported in interest and fees on loans and leases on the Condensed Consolidated Statements of Income. This reduces certain timing differences and better matches changes in the value of these assets with changes in the value of derivatives used as economic hedges for these assets. Residential mortgage loans held for sale accounted for under the fair value option are measured initially at fair value with subsequent changes in fair value recognized in earnings. Gains and losses from such changes in fair value are reported as a component of residential mortgage banking revenue. For the three and six months ended June 30, 2024, the Company recorded net increases in fair value of $127,000 and $316,000, respectively. For the three and six months ended June 30, 2023, the Company recorded net decreases in fair value of $602,000 and $521,000, respectively. Management's intent to sell certain residential mortgage loans classified as held for sale may change over time due to factors including changes in overall market liquidity or changes in characteristics specific to certain loans held for sale. Consequently, these loans may be reclassified as loans held for investment and maintained in the Bank's loan portfolio. In the event that loans currently classified as held for sale are reclassified as loans held for investment, the loans will continue to be measured at fair value. Gains and losses from changes in fair value for these loans are reported in earnings as a component of other income and interest income on these loans are reported in interest and fees on loans and leases on the Condensed Consolidated Statements of Income. For the three and six months ended June 30, 2024, the Company recorded net decreases in fair value of $10.1 million and $12.5 million, as compared to a net decrease in fair value of $7.0 million and a net increase in fair value of $2.5 million for the three and six months ended June 30, 2023, respectively. The Company selected the fair value measurement option for certain junior subordinated debentures originally issued by UHC prior to the Merger (the Umpqua Statutory Trusts) and for junior subordinated debentures acquired by UHC from Sterling Financial Corporation prior to the Merger, with changes in fair value recognized as a component of other comprehensive income. The remaining junior subordinated debentures were acquired through business combinations and were measured at fair value at the time of acquisition and subsequently measured at amortized cost. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, as well as in the majority of states. The Company believes it is more likely than not that it will be able to fully realize the benefit of its federal and state NOL and tax carryforwards and has not provided a valuation allowance against its deferred tax assets. As of June 30, 2024, the Company had a net deferred tax asset of $361.8 million, which includes $1.9 million of federal and state NOL carry-forwards, expiring in tax years 2030-2032. The Company recorded income tax expense of $85.9 million and $40.8 million for the six months ended June 30, 2024 and 2023, respectively, representing effective tax rates of 26.0% and 25.5%, respectively. The effective tax rates differed from the statutory rate principally because of state taxes, non-deductible FDIC assessments, and income on tax-exempt investment securities. Investment Tax Credits The Company's tax credit investments promote qualified affordable housing projects, some of which also support the Company’s regulatory compliance with the Community Reinvestment Act. The Company’s investments in these entities generate a return primarily through the realization of federal income tax credits and other tax benefits, such as tax deductions from operating losses of the investments, over specified time periods. These tax credits and deductions are recognized as a reduction to income tax expense. The Company records the investments in affordable housing partnerships of $210.4 million and $210.9 million as of June 30, 2024 and December 31, 2023, respectively, as a component of other assets on the Condensed Consolidated Balance Sheets and uses the proportional amortization method to account for the investments. The Company's unfunded capital commitments to these investments were $102.9 million and $114.1 million as of June 30, 2024 and December 31, 2023, respectively, which are recorded as a component of other liabilities on the Condensed Consolidated Balance Sheets. Amortization related to these investments is recorded as a component of the provision for income taxes on the Condensed Consolidated Statements of Income. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Pay vs Performance Disclosure | ||||||||
Net income | $ 120,144 | $ 124,080 | $ 93,531 | $ 135,845 | $ 133,377 | $ (14,038) | $ 244,224 | $ 119,339 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 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 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Organization And Nature Of Business | The accounting and financial reporting policies of Columbia Banking System, Inc. conform to accounting principles generally accepted in the United States of America and with prevailing practices within the banking and securities industries. All references in this report to "Columbia," "we," "our," or "us" or similar references mean the Company and its subsidiaries, including the wholly-owned banking subsidiary Umpqua Bank (the "Bank"). FinPac is a commercial equipment leasing company and a wholly-owned subsidiary of the Bank. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, and the Bank's wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated. The condensed consolidated financial statements have not been audited. A more detailed description of the Company's accounting policies is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions subsequent to June 30, 2024, for potential recognition or disclosure. In management's opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments include normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim period. |
Basis of Financial Statement Presentation | Basis of Financial Statement Presentation - On February 28, 2023 , UHC merged with and into Columbia, with Columbia continuing as the surviving legal corporation. Promptly following the Merger, Columbia’s wholly-owned bank subsidiary, Columbia State Bank, merged with and into UHC’s wholly-owned bank subsidiary, Umpqua Bank, with Umpqua Bank as the surviving bank. Upon completion of the Merger, the combined company became Columbia Banking System, Inc., a financial holding company that wholly owns the Bank. The Merger was accounted for as a reverse merger using the acquisition method of accounting; therefore, UHC was deemed the acquirer for financial reporting purposes, even though Columbia was the legal acquirer. The Merger was effectively an all-stock transaction and has been accounted for as a business combination. Columbia's financial results for any periods ended prior to February 28, 2023, the Merger Date, reflect UHC results only on a standalone basis. Accordingly, Columbia's reported financial results for the six months ended June 30, 2023, reflect only UHC financial results through the closing of the Merger and may not be directly comparable to the prior or future reported periods. Under the reverse acquisition method of accounting, the assets and liabilities of Columbia were recorded at their respective fair values as of February 28, 2023 ("historical Columbia"). Refer to Note 2 - Business Combination for additional information on this acquisition. |
Recent Accounting Pronouncements | Application of new accounting guidance Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The amendments in this ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments also update the disclosures for equity securities subject to contractual restrictions. Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company adopted the guidance on January 1, 2024, using a prospective methodology, and it did not have a material impact on the Company's consolidated financial statements. ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force) The amendments in this ASU permit companies to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the statement of income as a component of income tax expense (benefit). The amendments also require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understand the investments that generate income tax credits and other income tax benefits from a tax credit program. Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company adopted the guidance on January 1, 2024, and it did not have a material impact on the Company’s consolidated financial statements. Refer to Note 13 - Income Taxes for additional information. Recent accounting pronouncements Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters ASU No. 2023-06, Disclosure Improvements The amendments in this ASU modify the disclosure or presentation requirements of a variety of topics in the codification. The amendments align the requirements in the codification with the SEC’s regulations. Each amendment is effective on the date on which the SEC removes the related disclosure requirement from Regulation S-X or Regulation S-K, as applicable. For all entities within the scope of the affected codification subtopics, if, by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the associated amendment will be removed from the codification and will not become effective for any entities. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. ASU No. 2023-07, Segment Reporting (Topic 280) The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The ASU requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this ASU and all existing segment disclosures in Topic 280. Fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments are intended to provide more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The ASU requires annual disclosure of the rate reconciliation of specific categories as well as additional information related to the reconciliation of certain items that meet a quantitative threshold and further disaggregation of income taxes paid. Annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. ASU No. 2024-01, Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards The amendments improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation—Stock Compensation . Fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters FASB Accounting Standards Update No. 2024-02— Codification Improvements—Amendments to Remove References to the Concepts Statements The amendments focus on codification improvements and specifically addresses the removal of references to the Concepts Statements. These amendments aim to streamline accounting guidance by eliminating extraneous references that are not essential for understanding or applying the accounting principles. The update ensures all relevant disclosure guidance is appropriately placed within the Disclosure Section of the codification to enhance clarity and accessibility for users of financial statements. Fiscal years beginning after December 15, 2024. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. |
Business Combinations and Ass_2
Business Combinations and Asset Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Acquisition, Pro Forma Information | Unaudited Pro Forma for the Six Months Ended (in thousands) June 30, 2023 Net interest income $ 1,014,447 Non-interest income $ 128,250 Net income (1) $ 381,212 (1) The 2023 pro forma net income excludes $173.5 million of merger-related costs, inclusive of historical Columbia merger-related costs, incurred in 2023, as these costs were included in the 2022 pro forma net income . |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities | The following tables present the amortized cost, unrealized gains, unrealized losses, and approximate fair values of debt securities as of the dates presented: June 30, 2024 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 1,553,422 $ 140 $ (86,340) $ 1,467,222 Obligations of states and political subdivisions 1,064,031 4,178 (33,686) 1,034,523 Mortgage-backed securities and collateralized mortgage obligations 6,480,698 1,168 (480,611) 6,001,255 Total available for sale securities $ 9,098,151 $ 5,486 $ (600,637) $ 8,503,000 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,203 $ 682 $ — $ 2,885 Total held to maturity securities $ 2,203 $ 682 $ — $ 2,885 December 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 1,551,074 $ 6,192 $ (78,874) $ 1,478,392 Obligations of states and political subdivisions 1,073,264 20,451 (21,610) 1,072,105 Mortgage-backed securities and collateralized mortgage obligations 6,638,439 28,558 (387,624) 6,279,373 Total available for sale securities $ 9,262,777 $ 55,201 $ (488,108) $ 8,829,870 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,300 $ 725 $ — $ 3,025 Total held to maturity securities $ 2,300 $ 725 $ — $ 3,025 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The following tables present debt securities that were in an unrealized loss position as of the dates presented, based on the length of time individual securities have been in an unrealized loss position. June 30, 2024 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 503,063 $ (1,498) $ 913,887 $ (84,842) $ 1,416,950 $ (86,340) Obligations of states and political subdivisions 499,412 (7,526) 221,760 (26,160) 721,172 (33,686) Mortgage-backed securities and collateralized mortgage obligations 3,273,776 (51,322) 2,524,899 (429,289) 5,798,675 (480,611) Total temporarily impaired securities $ 4,276,251 $ (60,346) $ 3,660,546 $ (540,291) $ 7,936,797 $ (600,637) December 31, 2023 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 99,898 $ (1,074) $ 822,245 $ (77,800) $ 922,143 $ (78,874) Obligations of states and political subdivisions 103,256 (580) 169,231 (21,030) 272,487 (21,610) Mortgage-backed securities and collateralized mortgage obligations 1,089,640 (10,355) 1,817,768 (377,269) 2,907,408 (387,624) Total temporarily impaired securities $ 1,292,794 $ (12,009) $ 2,809,244 $ (476,099) $ 4,102,038 $ (488,108) |
Schedule Of Maturities Of Investment Securities | The following table presents the contractual maturities of debt securities as of June 30, 2024: Available For Sale Held To Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 190,692 $ 189,169 $ — $ — Due after one year through five years 2,352,102 2,289,382 3 3 Due after five years through ten years 2,095,493 2,003,191 1 486 Due after ten years 4,459,864 4,021,258 2,199 2,396 Total debt securities $ 9,098,151 $ 8,503,000 $ 2,203 $ 2,885 |
Investment Securities Pledged To Secure Borrowings And Public Deposits | The following table presents, as of June 30, 2024, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: (in thousands) Amortized Cost Fair Value To state and local governments to secure public deposits $ 1,912,250 $ 1,727,324 To secure repurchase agreements 320,289 291,554 Other securities pledged 3,534,750 3,249,558 Total pledged securities $ 5,767,289 $ 5,268,436 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Schedule Of Major Types Of Non-Covered Loans | The following table presents the major types of loans and leases, net of deferred fees and costs, as of the dates presented: (in thousands) June 30, 2024 December 31, 2023 Commercial real estate Non-owner occupied term, net $ 6,407,351 $ 6,482,940 Owner occupied term, net 5,230,511 5,195,605 Multifamily, net 5,868,848 5,704,734 Construction & development, net 1,946,693 1,747,302 Residential development, net 269,106 323,899 Commercial Term, net 5,559,548 5,536,765 Lines of credit & other, net 2,558,633 2,430,127 Leases & equipment finance, net 1,701,943 1,729,512 Residential Mortgage, net 5,992,163 6,157,166 Home equity loans & lines, net 1,982,786 1,938,166 Consumer & other, net 192,405 195,735 Total loans and leases, net of deferred fees and costs $ 37,709,987 $ 37,441,951 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Activity In The Non-Covered Allowance For Loan And Lease Losses | The following tables summarize activity related to the ACL by portfolio segment for the periods indicated: Three Months Ended June 30, 2024 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 146,276 $ 202,757 $ 58,010 $ 7,301 $ 414,344 (Recapture) provision for credit losses for loans and leases (3,096) 46,320 (9,032) 568 34,760 Charge-offs (585) (33,561) (504) (1,551) (36,201) Recoveries 551 4,198 411 608 5,768 Net charge-offs (34) (29,363) (93) (943) (30,433) Balance, end of period $ 143,146 $ 219,714 $ 48,885 $ 6,926 $ 418,671 Reserve for unfunded commitments Balance, beginning of period $ 13,028 $ 5,890 $ 2,757 $ 1,193 $ 22,868 (Recapture) provision for credit losses on unfunded commitments (3,082) 657 (479) (36) (2,940) Balance, end of period 9,946 6,547 2,278 1,157 19,928 Total allowance for credit losses $ 153,092 $ 226,261 $ 51,163 $ 8,083 $ 438,599 Six Months Ended June 30, 2024 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 125,888 $ 244,821 $ 62,004 $ 8,158 $ 440,871 Provision (recapture) for credit losses for loans and leases 17,095 46,756 (12,706) 1,091 52,236 Charge-offs (746) (80,793) (994) (3,421) (85,954) Recoveries 909 8,930 581 1,098 11,518 Net recoveries (charge-offs) 163 (71,863) (413) (2,323) (74,436) Balance, end of period $ 143,146 $ 219,714 $ 48,885 $ 6,926 $ 418,671 Reserve for unfunded commitments Balance, beginning of period $ 11,170 $ 7,841 $ 2,940 $ 1,257 $ 23,208 Recapture for credit losses on unfunded commitments (1,224) (1,294) (662) (100) (3,280) Balance, end of period 9,946 6,547 2,278 1,157 19,928 Total allowance for credit losses $ 153,092 $ 226,261 $ 51,163 $ 8,083 $ 438,599 Three Months Ended June 30, 2023 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 111,090 $ 239,146 $ 60,613 $ 6,615 $ 417,464 Provision for credit losses for loans and leases 7,829 30 5,269 2,088 15,216 Charge-offs (174) (32,036) (4) (1,264) (33,478) Recoveries 209 4,511 63 618 5,401 Net recoveries (charge-offs) 35 (27,525) 59 (646) (28,077) Balance, end of period $ 118,954 $ 211,651 $ 65,941 $ 8,057 $ 404,603 Reserve for unfunded commitments Balance, beginning of period $ 8,405 $ 6,381 $ 3,320 $ 923 $ 19,029 Provision (recapture) for credit losses on unfunded commitments 1,595 (560) (302) 65 798 Balance, end of period 10,000 5,821 3,018 988 19,827 Total allowance for credit losses $ 128,954 $ 217,472 $ 68,959 $ 9,045 $ 424,430 Six Months Ended June 30, 2023 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 77,813 $ 167,135 $ 50,329 $ 5,858 $ 301,135 Initial ACL on PCD loans acquired during the period 8,736 17,204 454 98 26,492 Provision for credit losses for loans and leases (1) 32,312 71,027 15,224 3,151 121,714 Charge-offs (174) (51,284) (252) (2,037) (53,747) Recoveries 267 7,569 186 987 9,009 Net recoveries (charge-offs) 93 (43,715) (66) (1,050) (44,738) Balance, end of period $ 118,954 $ 211,651 $ 65,941 $ 8,057 $ 404,603 Reserve for unfunded commitments Balance, beginning of period $ 7,207 $ 3,049 $ 3,196 $ 769 $ 14,221 Initial ACL recorded for unfunded commitments acquired during the period 2,257 3,066 268 176 5,767 Provision (recapture) for credit losses on unfunded commitments 536 (294) (446) 43 (161) Balance, end of period 10,000 5,821 3,018 988 19,827 Total allowance for credit losses $ 128,954 $ 217,472 $ 68,959 $ 9,045 $ 424,430 (1) Includes $88.4 million initial provision related to non-PCD loans acquired during the first quarter of 2023. |
Loans and Leases Past Due and Non-Accrual Loans and Leases | The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of the dates presented: June 30, 2024 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing (2) Total Past Due Non-Accrual (2) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 972 $ 528 $ — $ 1,500 $ 4,961 $ 6,400,890 $ 6,407,351 Owner occupied term, net 1,586 1,946 — 3,532 32,623 5,194,356 5,230,511 Multifamily, net — — — — — 5,868,848 5,868,848 Construction & development, net — — — — — 1,946,693 1,946,693 Residential development, net — — — — — 269,106 269,106 Commercial Term, net 3,714 5,700 — 9,414 29,583 5,520,551 5,559,548 Lines of credit & other, net 4,676 4,590 145 9,411 2,166 2,547,056 2,558,633 Leases & equipment finance, net 16,659 20,564 5,633 42,856 23,237 1,635,850 1,701,943 Residential Mortgage, net (1) — 13,942 52,652 66,594 — 5,925,569 5,992,163 Home equity loans & lines, net 7,143 2,966 2,920 13,029 — 1,969,757 1,982,786 Consumer & other, net 551 461 220 1,232 — 191,173 192,405 Total, net of deferred fees and costs $ 35,301 $ 50,697 $ 61,570 $ 147,568 $ 92,570 $ 37,469,849 $ 37,709,987 (1) Includes government guaranteed mortgage loans that the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at June 30, 2024. (2) Includes government guaranteed portion of $27.9 million and $36.8 million for 90 days or greater and non-accrual loans, respectively. December 31, 2023 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing (2) Total Past Due Non-Accrual (2) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 1,270 $ 3,312 $ 437 $ 5,019 $ 4,359 $ 6,473,562 $ 6,482,940 Owner occupied term, net 3,078 2,191 433 5,702 24,330 5,165,573 5,195,605 Multifamily, net — — — — — 5,704,734 5,704,734 Construction & development, net — — — — — 1,747,302 1,747,302 Residential development, net — — — — — 323,899 323,899 Commercial Term, net 6,341 2,101 202 8,644 14,519 5,513,602 5,536,765 Lines of credit & other, net 1,647 1,137 66 2,850 2,760 2,424,517 2,430,127 Leases & equipment finance, net 22,217 24,178 7,965 54,360 28,403 1,646,749 1,729,512 Residential Mortgage, net (1) 282 9,410 26,331 36,023 — 6,121,143 6,157,166 Home equity loans & lines, net 4,401 2,373 3,782 10,556 — 1,927,610 1,938,166 Consumer & other, net 778 519 326 1,623 — 194,112 195,735 Total, net of deferred fees and costs $ 40,014 $ 45,221 $ 39,542 $ 124,777 $ 74,371 $ 37,242,803 $ 37,441,951 (1) Includes government guaranteed mortgage loans the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at December 31, 2023. (2) Includes government guaranteed portion of $12.3 million and $19.3 million for 90 days or greater and non-accrual loans, respectively. |
Collateral Dependent Loans and Leases | The following table summarizes the amortized cost of non-accrual loans for which there was no related ACL as of June 30, 2024 and December 31, 2023: (in thousands) June 30, 2024 December 31, 2023 Commercial real estate Non-owner occupied term, net $ 37 $ 52 Owner occupied term, net 1,604 1,352 Commercial Term, net 2,574 3,497 Total non-accrual loans with no related ACL (1) $ 4,215 $ 4,901 (1) |
Collateral Dependent Loans and Leases | The following table summarizes the amortized cost basis of the collateral-dependent loans and leases by the type of collateral securing the assets as of June 30, 2024: (in thousands) Residential Real Estate Commercial Real Estate General Business Assets Other Total Commercial real estate Non-owner occupied term, net $ — $ 4,242 $ — $ — $ 4,242 Owner occupied term, net — 29,621 — — 29,621 Commercial Term, net 2,397 — 16,124 3,931 22,452 Line of credit & other, net — 1,305 250 — 1,555 Leases & equipment finance, net — — 23,237 — 23,237 Residential Mortgage, net 74,806 — — — 74,806 Home equity loans & lines, net 2,431 — — — 2,431 Total, net of deferred fees and costs $ 79,634 $ 35,168 $ 39,611 $ 3,931 $ 158,344 |
Loan and Lease Modifications Made to Borrowers Experiencing Financial Difficulty | The following tables present the amortized cost basis of loans and leases that were both experiencing financial difficulty and modified during the three and six months ended June 30, 2024 and 2023, by class and type of modification. The percentage of the amortized cost basis of loans and leases that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below. Three Months Ended June 30, 2024 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 4,041 $ — $ — $ 4,041 0.08 % Commercial Term, net 1,237 5,493 1,988 8,718 0.16 % Lines of credit & other, net — 3,728 319 4,047 0.16 % Leases & equipment finance, net — 866 — 866 0.05 % Residential Mortgage, net — 1,447 7,389 8,836 0.15 % Total loans and leases experiencing financial difficulty $ 5,278 $ 11,534 $ 9,696 $ 26,508 0.07 % Six Months Ended June 30, 2024 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Non-owner occupied term, net $ — $ — $ 17,577 $ 17,577 0.27 % Owner occupied term, net 4,041 — 530 4,571 0.09 % Commercial Term, net 1,237 5,944 1,988 9,169 0.16 % Lines of credit & other, net — 10,913 319 11,232 0.44 % Leases & equipment finance, net — 1,457 — 1,457 0.09 % Residential Mortgage, net — 2,456 14,355 16,811 0.28 % Total loans and leases experiencing financial difficulty $ 5,278 $ 20,770 $ 34,769 $ 60,817 0.16 % Three Months Ended June 30, 2023 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Combination - Term Extension and Other-than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 976 $ — $ — $ — $ 976 0.02 % Commercial Term, net 377 — — — 377 0.01 % Lines of credit & other, net — 1,850 — — 1,850 0.08 % Leases & equipment finance, net — 194 — — 194 0.01 % Residential Mortgage, net — 454 13,348 1,261 15,063 0.24 % Total loans and leases experiencing financial difficulty $ 1,353 $ 2,498 $ 13,348 $ 1,261 $ 18,460 0.05 % Six Months Ended June 30, 2023 (in thousands) Interest Rate Reduction Term Extension Other -Than-Insignificant Payment Delay Combination - Interest Rate Reduction and Term Extension Combination - Term Extension and Other-than-Insignificant Payment Delay Total % of total class of financing receivable Commercial real estate Owner occupied term, net $ 976 $ — $ — $ — $ — $ 976 0.02 % Commercial Term, net 377 — — — — 377 0.01 % Lines of credit & other, net — 2,945 — — — 2,945 0.13 % Leases & equipment finance, net — 603 — — — 603 0.03 % Residential Mortgage, net — 454 22,017 — 2,934 25,405 0.40 % Home equity loans & lines, net — — — 244 — 244 0.01 % Total loans and leases experiencing financial difficulty $ 1,353 $ 4,002 $ 22,017 $ 244 $ 2,934 $ 30,550 0.08 % Three Months Ended June 30, 2024 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 3.79%. Commercial Term, net Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. Lines of credit & other, net Weighted average term extension of 9 months to the life of the loans. Deferred $48,000 of principal and interest payments. Leases & equipment finance, net Weighted average term extension of 11 months to the life of the loans and leases. Residential Mortgage, net Weighted average term extension of 4.7 years to the life of the loans. Deferred $531,000 of principal and interest payments. Six Months Ended June 30, 2024 Loan Type Financial Effect Commercial real estate Non-owner occupied term, net Deferred $4.0 million of principal and interest payments. Owner occupied term, net Reduced weighted average interest rate by 3.79%. Deferred $51,000 of principal and interest payments. Commercial Term, net Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. Lines of credit & other, net Weighted average term extension of 7 months to the life of the loans. Deferred $48,000 of principal and interest payments. Leases & equipment finance, net Weighted average term extension of 10 months to the life of the loans and leases. Residential Mortgage, net Weighted average term extension of 8.3 years to the life of the loans. Deferred $1.0 million of principal and interest payments. Three Months Ended June 30, 2023 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 2.41%. Commercial Term, net Reduced weighted average interest rate by 4.50%. Lines of credit & other, net Weighted average term extension of 6 months to the life of the loans. Leases & equipment finance, net Weighted average term extension of 10 months to the life of the loans. Residential Mortgage, net Weighted average term extension of 6.4 years to the life of the loans. Deferred $916,000 of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.9 years to the life of the loans, and deferred $37,000 of principal and interest payments. Six Months Ended June 30, 2023 Loan Type Financial Effect Commercial real estate Owner occupied term, net Reduced weighted average interest rate by 2.41%. Commercial Term, net Reduced weighted average interest rate by 4.50%. Lines of credit & other, net Weighted average term extension of 8 months to the life of the loans. Leases & equipment finance, net Weighted average term extension of 9 months to the life of the loans. Residential Mortgage, net Weighted average term extension of 6.4 years to the life of the loans. Deferred $1.2 million of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.4 years to the life of the loans, and deferred $156,000 of principal payment and interest payments. Home equity loans & lines, net Weighted average term extension of 6.9 years to the life of the loan and decreased the weighted average interest rate by 3.44%. The Company closely monitors the performance of loans and leases that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Loans and leases are considered to be in payment default at 90 or more days past due. The following tables present the amortized cost basis of modified loans as of June 30, 2024 that, within twelve months of the modification date, experienced a subsequent default during the periods presented: Three Months Ended June 30, 2024 (in thousands) Interest rate reduction Term Extension Other than insignificant payment delay Total Commercial real estate Owner occupied term, net $ 3,064 $ — $ — $ 3,064 Commercial Lines of credit & other, net — 250 — 250 Residential Mortgage, net — 300 743 1,043 Total loans and leases experiencing financial difficulty with a subsequent default $ 3,064 $ 550 $ 743 $ 4,357 Six Months Ended June 30, 2024 (in thousands) Interest rate reduction Term Extension Other than insignificant payment delay Total Commercial real estate Owner occupied term, net $ 3,064 $ — $ — $ 3,064 Commercial Lines of credit & other, net — 250 — 250 Residential Mortgage, net — 300 743 1,043 Total loans and leases experiencing financial difficulty with a subsequent default $ 3,064 $ 550 $ 743 $ 4,357 For the three and six months ended June 30, 2023, all modified loans and leases were current and there were no loan or lease modifications made to borrowers experiencing financial difficulty that subsequently defaulted. The following tables present an age analysis of loans and leases as of June 30, 2024 that have been modified within the prior twelve months and as of June 30, 2023 that have been modified since January 1, 2023, the date of the adoption of ASU 2022-02: June 30, 2024 Loan Type Current Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or Greater Past Due Nonaccrual Total (in thousands) Commercial real estate Non-owner occupied term, net $ 47,557 $ — $ — $ — $ — $ 47,557 Owner occupied term, net 2,033 — — — 3,594 5,627 Commercial Term, net 9,784 — — — 1,237 11,021 Lines of credit & other, net 50,268 — 999 — 1,751 53,018 Leases & equipment finance, net 1,430 193 227 15 106 1,971 Residential Mortgage, net 33,971 — 2,841 5,103 — 41,915 Total loans and leases, net of deferred fees and costs $ 145,043 $ 193 $ 4,067 $ 5,118 $ 6,688 $ 161,109 June 30, 2023 Loan Type Current Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or Greater Past Due Nonaccrual Total (in thousands) Commercial real estate Owner occupied term, net $ — $ — $ — $ — $ 976 $ 976 Commercial Term, net — — — — 377 377 Lines of credit & other, net 2,945 — — — — 2,945 Leases & equipment finance, net 492 111 — — — 603 Residential Mortgage, net 25,405 — — — — 25,405 Home equity loans & lines, net 244 — — — — 244 Total loans and leases, net of deferred fees and costs $ 29,086 $ 111 $ — $ — $ 1,353 $ 30,550 |
Internal Risk Rating By Loan Class | The following tables represent the amortized costs basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable as of the dates presented: (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost June 30, 2024 2024 2023 2022 2021 2020 Prior Total Commercial real estate: Non-owner occupied term, net Credit quality indicator: Pass/Watch $ 120,203 $ 586,414 $ 1,287,806 $ 1,170,822 $ 593,654 $ 2,452,050 $ 61,247 $ 1,663 $ 6,273,859 Special mention — — 844 1,243 467 19,452 — — 22,006 Substandard 17,577 29,979 3,061 528 — 59,659 — — 110,804 Doubtful — — — 682 — — — — 682 Total non-owner occupied term, net $ 137,780 $ 616,393 $ 1,291,711 $ 1,173,275 $ 594,121 $ 2,531,161 $ 61,247 $ 1,663 $ 6,407,351 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 86 $ — $ — $ 86 Owner occupied term, net Credit quality indicator: Pass/Watch $ 254,451 $ 516,936 $ 1,063,606 $ 923,506 $ 427,382 $ 1,781,628 $ 74,543 $ 54 $ 5,042,106 Special mention 249 1,280 7,029 11,989 9,959 25,538 1,926 — 57,970 Substandard 3,594 5,363 3,714 47,633 17,302 47,366 — — 124,972 Doubtful — — 2,924 — — 983 — — 3,907 Loss — — 963 189 404 — — — 1,556 Total owner occupied term, net $ 258,294 $ 523,579 $ 1,078,236 $ 983,317 $ 455,047 $ 1,855,515 $ 76,469 $ 54 $ 5,230,511 Current YTD period: Gross charge-offs $ — $ — $ 569 $ — $ — $ 91 $ — $ — $ 660 Multifamily, net Credit quality indicator: Pass/Watch $ 70,557 $ 279,966 $ 2,007,723 $ 1,732,846 $ 409,038 $ 1,298,746 $ 56,392 $ — $ 5,855,268 Special mention — — 1,072 1,265 934 6,242 — — 9,513 Substandard — — — — — 4,067 — — 4,067 Total multifamily, net $ 70,557 $ 279,966 $ 2,008,795 $ 1,734,111 $ 409,972 $ 1,309,055 $ 56,392 $ — $ 5,868,848 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & development, net Credit quality indicator: Pass/Watch $ 206,345 $ 343,932 $ 834,408 $ 340,935 $ 147,635 $ 19,467 $ 39,662 $ — $ 1,932,384 Special mention — — — 14,309 — — — — 14,309 Total construction & development, net $ 206,345 $ 343,932 $ 834,408 $ 355,244 $ 147,635 $ 19,467 $ 39,662 $ — $ 1,946,693 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential development, net Credit quality indicator: Pass/Watch $ 31,550 $ 51,413 $ 15,556 $ 495 $ 467 $ 970 $ 161,427 $ 7,228 $ 269,106 Total residential development, net $ 31,550 $ 51,413 $ 15,556 $ 495 $ 467 $ 970 $ 161,427 $ 7,228 $ 269,106 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total commercial real estate $ 704,526 $ 1,815,283 $ 5,228,706 $ 4,246,442 $ 1,607,242 $ 5,716,168 $ 395,197 $ 8,945 $ 19,722,509 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost June 30, 2024 2024 2023 2022 2021 2020 Prior Total Commercial: Term, net Credit quality indicator: Pass/Watch $ 423,462 $ 812,209 $ 1,143,205 $ 926,619 $ 339,661 $ 726,874 $ 1,054,033 $ 2,906 $ 5,428,969 Special mention 301 2,413 13,324 9,015 689 19,411 — — 45,153 Substandard 19,143 6,363 10,277 9,271 2,083 9,723 9,558 — 66,418 Doubtful — 1,160 5,525 5,804 683 2,231 — — 15,403 Loss — — — 329 1,531 1,745 — — 3,605 Total term, net $ 442,906 $ 822,145 $ 1,172,331 $ 951,038 $ 344,647 $ 759,984 $ 1,063,591 $ 2,906 $ 5,559,548 Current YTD period: Gross charge-offs $ — $ 625 $ 1,246 $ 774 $ 319 $ 605 $ 820 $ — $ 4,389 Lines of credit & other, net Credit quality indicator: Pass/Watch $ 55,248 $ 87,188 $ 70,624 $ 25,376 $ 10,380 $ 24,589 $ 2,072,679 $ 25,572 $ 2,371,656 Special mention 511 1,385 614 452 15 102 35,714 687 39,480 Substandard 33,626 3,505 3,241 161 — 132 101,046 5,396 147,107 Doubtful — — — — — — 199 — 199 Loss — — 191 — — — — — 191 Total lines of credit & other, net $ 89,385 $ 92,078 $ 74,670 $ 25,989 $ 10,395 $ 24,823 $ 2,209,638 $ 31,655 $ 2,558,633 Current YTD period: Gross charge-offs $ — $ 309 $ 309 $ 32 $ 42 $ 384 $ 18,798 $ 1,107 $ 20,981 Leases & equipment finance, net Credit quality indicator: Pass/Watch $ 348,475 $ 555,894 $ 396,315 $ 145,332 $ 59,880 $ 63,466 $ — $ — $ 1,569,362 Special mention 459 44,362 12,718 4,216 777 412 — — 62,944 Substandard 2,136 8,606 11,499 4,793 1,436 1,934 — — 30,404 Doubtful 459 8,648 17,401 6,961 1,920 1,117 — — 36,506 Loss 20 907 1,259 435 55 51 — — 2,727 Total leases & equipment finance, net $ 351,549 $ 618,417 $ 439,192 $ 161,737 $ 64,068 $ 66,980 $ — $ — $ 1,701,943 Current YTD period: Gross charge-offs $ — $ 9,668 $ 29,002 $ 11,349 $ 3,279 $ 2,125 $ — $ — $ 55,423 Total commercial $ 883,840 $ 1,532,640 $ 1,686,193 $ 1,138,764 $ 419,110 $ 851,787 $ 3,273,229 $ 34,561 $ 9,820,124 Residential: Mortgage, net Credit quality indicator: Pass/Watch $ 77,660 $ 245,163 $ 1,825,600 $ 2,179,061 $ 501,053 $ 1,098,078 $ — $ — $ 5,926,615 Special mention 2,138 1,359 294 3,431 330 6,390 — — 13,942 Substandard 2,041 6,685 5,586 5,025 2,977 18,457 — — 40,771 Loss 358 1,238 2,460 3,299 1,387 2,093 — — 10,835 Total mortgage, net $ 82,197 $ 254,445 $ 1,833,940 $ 2,190,816 $ 505,747 $ 1,125,018 $ — $ — $ 5,992,163 Current YTD period: Gross charge-offs $ — $ — $ — $ 292 $ — $ 368 $ — $ — $ 660 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost June 30, 2024 2024 2023 2022 2021 2020 Prior Total Home equity loans & lines, net Credit quality indicator: Pass/Watch $ 62 $ 915 $ 2,747 $ 1,825 $ 626 $ 43,186 $ 1,906,045 $ 14,349 $ 1,969,755 Special mention — — 237 44 — 1,463 7,925 440 10,109 Substandard — — — — — 480 306 243 1,029 Loss — — — — 101 640 820 332 1,893 Total home equity loans & lines, net $ 62 $ 915 $ 2,984 $ 1,869 $ 727 $ 45,769 $ 1,915,096 $ 15,364 $ 1,982,786 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 109 $ 225 $ — $ 334 Total residential $ 82,259 $ 255,360 $ 1,836,924 $ 2,192,685 $ 506,474 $ 1,170,787 $ 1,915,096 $ 15,364 $ 7,974,949 Consumer & other, net: Credit quality indicator: Pass/Watch $ 19,763 $ 21,138 $ 12,441 $ 5,863 $ 3,860 $ 6,648 $ 121,010 $ 449 $ 191,172 Special mention 55 49 22 — — 61 642 183 1,012 Substandard — 6 — — — 3 146 66 221 Total consumer & other, net $ 19,818 $ 21,193 $ 12,463 $ 5,863 $ 3,860 $ 6,712 $ 121,798 $ 698 $ 192,405 Current YTD period: Gross charge-offs $ — $ 1,614 $ 94 $ 25 $ — $ 236 $ 1,170 $ 282 $ 3,421 Grand total $ 1,690,443 $ 3,624,476 $ 8,764,286 $ 7,583,754 $ 2,536,686 $ 7,745,454 $ 5,705,320 $ 59,568 $ 37,709,987 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial real estate: Non-owner occupied term, net Credit quality indicator: Pass/Watch $ 582,178 $ 1,307,143 $ 1,182,485 $ 615,021 $ 764,821 $ 1,832,231 $ 41,194 $ — $ 6,325,073 Special mention — 317 3,478 1,337 2,480 16,352 — — 23,964 Substandard 32,461 749 — 1,090 35,214 64,304 — — 133,818 Loss — — — — — 85 — — 85 Total non-owner occupied term, net $ 614,639 $ 1,308,209 $ 1,185,963 $ 617,448 $ 802,515 $ 1,912,972 $ 41,194 $ — $ 6,482,940 Prior Year End period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Owner occupied term, net Credit quality indicator: Pass/Watch $ 532,482 $ 1,067,388 $ 972,130 $ 448,569 $ 581,616 $ 1,351,172 $ 67,063 $ — $ 5,020,420 Special mention 1,575 5,950 6,175 4,945 14,610 15,513 1,932 — 50,700 Substandard 4,034 7,707 48,281 17,275 10,513 35,216 — — 123,026 Doubtful — — — — — 90 — — 90 Loss — 963 — 404 — 2 — — 1,369 Total owner occupied term, net $ 538,091 $ 1,082,008 $ 1,026,586 $ 471,193 $ 606,739 $ 1,401,993 $ 68,995 $ — $ 5,195,605 Prior Year End period: Gross charge-offs $ — $ 16 $ — $ — $ — $ 787 $ — $ — $ 803 Multifamily, net Credit quality indicator: Pass/Watch $ 272,084 $ 1,982,075 $ 1,660,492 $ 400,280 $ 590,379 $ 745,705 $ 51,480 $ — $ 5,702,495 Special mention — — 1,278 — 961 — — — 2,239 Total multifamily, net $ 272,084 $ 1,982,075 $ 1,661,770 $ 400,280 $ 591,340 $ 745,705 $ 51,480 $ — $ 5,704,734 Prior Year End period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Construction & development, net Credit quality indicator: Pass/Watch $ 248,623 $ 716,207 $ 530,305 $ 186,680 $ 21,990 $ 10,738 $ 31,289 $ — $ 1,745,832 Special mention — 1,470 — — — — — — 1,470 Total construction & development, net $ 248,623 $ 717,677 $ 530,305 $ 186,680 $ 21,990 $ 10,738 $ 31,289 $ — $ 1,747,302 Prior Year End period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential development, net Credit quality indicator: Pass/Watch $ 90,241 $ 86,078 $ 22,271 $ — $ — $ 1,329 $ 116,490 $ 6,149 $ 322,558 Special mention — — — — — — 1,341 — 1,341 Total residential development, net $ 90,241 $ 86,078 $ 22,271 $ — $ — $ 1,329 $ 117,831 $ 6,149 $ 323,899 Prior Year End period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total commercial real estate $ 1,763,678 $ 5,176,047 $ 4,426,895 $ 1,675,601 $ 2,022,584 $ 4,072,737 $ 310,789 $ 6,149 $ 19,454,480 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial: Term, net Credit quality indicator: Pass/Watch $ 835,662 $ 1,215,539 $ 933,970 $ 391,735 $ 271,974 $ 560,595 $ 1,097,630 $ 50,874 $ 5,357,979 Special mention 23,250 14,875 29,128 109 3,340 16,476 — — 87,178 Substandard 2,911 13,862 13,981 3,068 7,385 7,859 31,399 4,139 84,604 Doubtful — 1,329 335 796 197 699 — — 3,356 Loss — 415 — 648 51 2,534 — — 3,648 Total term, net $ 861,823 $ 1,246,020 $ 977,414 $ 396,356 $ 282,947 $ 588,163 $ 1,129,029 $ 55,013 $ 5,536,765 Prior Year End period: Gross charge-offs $ 3,000 $ 1,418 $ — $ 415 $ 389 $ 886 $ 44 $ 808 $ 6,960 Lines of credit & other, net Credit quality indicator: Pass/Watch $ 105,360 $ 105,791 $ 58,441 $ 12,266 $ 10,927 $ 16,108 $ 1,922,115 $ 5,676 $ 2,236,684 Special mention 476 635 394 — — 80 61,927 403 63,915 Substandard 7,807 4,161 — — — 593 83,304 32,509 128,374 Doubtful — — — — — — 48 211 259 Loss — 693 200 — 1 1 — — 895 Total lines of credit & other, net $ 113,643 $ 111,280 $ 59,035 $ 12,266 $ 10,928 $ 16,782 $ 2,067,394 $ 38,799 $ 2,430,127 Prior Year End period: Gross charge-offs $ 30 $ 168 $ — $ 47 $ 144 $ 45 $ 1,058 $ 1,809 $ 3,301 Leases & equipment finance, net Credit quality indicator: Pass/Watch $ 682,866 $ 501,867 $ 200,499 $ 92,402 $ 61,065 $ 33,908 $ — $ — $ 1,572,607 Special mention 46,806 15,962 6,182 1,688 7,224 77 — — 77,939 Substandard 7,094 15,274 6,704 2,163 1,246 1,161 — — 33,642 Doubtful 5,833 22,566 9,036 3,161 1,700 208 — — 42,504 Loss 395 1,485 581 292 58 9 — — 2,820 Total leases & equipment finance, net $ 742,994 $ 557,154 $ 223,002 $ 99,706 $ 71,293 $ 35,363 $ — $ — $ 1,729,512 Prior Year End period: Gross charge-offs $ 2,324 $ 47,116 $ 31,569 $ 9,111 $ 6,394 $ 3,087 $ — $ — $ 99,601 Total commercial $ 1,718,460 $ 1,914,454 $ 1,259,451 $ 508,328 $ 365,168 $ 640,308 $ 3,196,423 $ 93,812 $ 9,696,404 Residential: Mortgage, net Credit quality indicator: Pass/Watch $ 221,207 $ 1,845,395 $ 2,355,420 $ 521,177 $ 443,152 $ 735,801 $ — $ — $ 6,122,152 Special mention 1,125 916 1,737 651 1,156 4,109 — — 9,694 Substandard 1,851 2,617 2,826 787 1,759 8,746 — — 18,586 Loss 159 2,724 970 851 220 1,810 — — 6,734 Total mortgage, net $ 224,342 $ 1,851,652 $ 2,360,953 $ 523,466 $ 446,287 $ 750,466 $ — $ — $ 6,157,166 Prior Year End period: Gross charge-offs $ — $ — $ — $ — $ — $ 6 $ — $ — $ 6 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2023 2023 2022 2021 2020 2019 Prior Total Home equity loans & lines, net Credit quality indicator: Pass/Watch $ 562 $ 1,242 $ 1,056 $ 100 $ 896 $ 35,677 $ 1,870,270 $ 17,807 $ 1,927,610 Special mention — — — — 114 378 5,052 1,230 6,774 Substandard — — — — 137 190 1,278 174 1,779 Loss 14 — — — — 85 1,286 618 2,003 Total home equity loans & lines, net $ 576 $ 1,242 $ 1,056 $ 100 $ 1,147 $ 36,330 $ 1,877,886 $ 19,829 $ 1,938,166 Prior Year End period: Gross charge-offs $ — $ — $ 12 $ 29 $ — $ 52 $ 448 $ — $ 541 Total residential $ 224,918 $ 1,852,894 $ 2,362,009 $ 523,566 $ 447,434 $ 786,796 $ 1,877,886 $ 19,829 $ 8,095,332 Consumer & other, net: Credit quality indicator: Pass/Watch $ 39,977 $ 14,919 $ 7,132 $ 4,953 $ 3,441 $ 5,022 $ 118,125 $ 543 $ 194,112 Special mention 138 52 5 13 52 122 779 135 1,296 Substandard — — — — 3 1 251 63 318 Loss — — — — — 7 2 — 9 Total consumer & other, net $ 40,115 $ 14,971 $ 7,137 $ 4,966 $ 3,496 $ 5,152 $ 119,157 $ 741 $ 195,735 Prior Year End period: Gross charge-offs $ 3,313 $ 132 $ 23 $ 20 $ 29 $ 288 $ 1,485 $ 472 $ 5,762 Grand total $ 3,747,171 $ 8,958,366 $ 8,055,492 $ 2,712,461 $ 2,838,682 $ 5,504,993 $ 5,504,255 $ 120,531 $ 37,441,951 |
Intangible Assets, Goodwill a_2
Intangible Assets, Goodwill and Other (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table summarizes other intangible assets as of the dates presented: (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount As of June 30, 2024 $ 764,791 $ (222,433) $ 542,358 As of December 31, 2023 $ 764,791 $ (161,112) $ 603,679 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The table below presents the forecasted amortization expense for intangible assets as of June 30, 2024: (in thousands) Year Expected Amortization Remainder of 2024 $ 58,110 2025 105,458 2026 92,545 2027 79,632 2028 66,719 Thereafter 139,894 Total intangible assets $ 542,358 |
Residential Mortgage Servicin_2
Residential Mortgage Servicing Rights (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Transfers and Servicing [Abstract] | |
Schedule Of Changes In Mortgage Servicing Rights | The following table presents the changes in the Company's residential MSR for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Balance, beginning of period $ 110,444 $ 178,800 $ 109,243 $ 185,017 Additions for new MSR capitalized 1,540 1,168 2,777 2,769 Changes in fair value: Changes due to collection/realization of expected cash flows over time (3,183) (4,797) (6,336) (9,678) Changes due to valuation inputs or assumptions (1) 1,238 (2,242) 4,355 (5,179) Balance, end of period $ 110,039 $ 172,929 $ 110,039 $ 172,929 (1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates. |
Schedule Of Other Information Servicing Loan Portfolio | Information related to the serviced loan portfolio as of the dates presented is as follows: (dollars in thousands) June 30, 2024 December 31, 2023 Balance of loans serviced for others $ 8,120,046 $ 8,175,664 MSR as a percentage of serviced loans 1.36 % 1.34 % |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Commitments And Contingencies | The following table presents a summary of the Bank's commitments and contingent liabilities: (in thousands) June 30, 2024 Commitments to extend credit $ 10,763,609 Forward sales commitments $ 82,618 Commitments to originate residential mortgage loans held for sale $ 54,322 Standby letters of credit $ 217,245 |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives | The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of the dates presented: (in thousands) Asset Derivatives Liability Derivatives Derivatives not designated as hedging instrument June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Interest rate lock commitments $ — $ — $ 452 $ 137 Interest rate futures — 3,745 500 — Interest rate forward sales commitments 178 9 243 535 Interest rate swaps 117,880 33,874 311,192 260,064 Foreign currency derivatives 230 457 155 355 Total derivative assets and liabilities $ 118,288 $ 38,085 $ 312,542 $ 261,091 |
Summary Of Types Of Derivatives And Gains (Losses) Recorded | The following table summarizes the types of derivatives and the gains (losses) recorded during the periods indicated: (in thousands) Three Months Ended Six Months Ended Derivatives not designated as hedging instrument June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Interest rate lock commitments $ (467) $ (188) $ (314) $ (83) Interest rate futures (1,611) (7,636) (5,882) (4,986) Interest rate forward sales commitments 467 785 513 (218) Interest rate swaps 424 1,288 1,621 (2,255) Foreign currency derivatives 196 (109) 238 (79) Total derivative losses $ (991) $ (5,860) $ (3,824) $ (7,621) |
Balance Sheet Offsetting | The following table shows the gross interest rate swaps in the Condensed Consolidated Balance Sheets and the respective collateral received or pledged in the form of cash or other financial instruments. The collateral amounts are limited to the outstanding balances of the related asset or liability. Therefore, instances of over collateralization are not shown. Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets/Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets/Liabilities presented in the Condensed Consolidated Balance Sheets Financial Instruments Collateral Received/Posted Net Amount June 30, 2024 Derivative Assets Interest rate swaps $ 117,880 $ — $ 117,880 $ 5,226 $ 100,000 $ 12,654 Derivative Liabilities Interest rate swaps $ 311,192 $ — $ 311,192 $ 5,226 $ — $ 305,966 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The following is a computation of basic and diluted earnings per common share for the periods indicated: Three Months Ended Six Months Ended (in thousands, except per share data) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net income $ 120,144 $ 133,377 $ 244,224 $ 119,339 Weighted average number of common shares outstanding - basic 208,498 207,977 208,379 182,325 Effect of potentially dilutive common shares (1) 513 568 620 535 Weighted average number of common shares outstanding - diluted 209,011 208,545 208,999 182,860 Earnings per common share: Basic $ 0.58 $ 0.64 $ 1.17 $ 0.65 Diluted $ 0.57 $ 0.64 $ 1.17 $ 0.65 (1) Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method. |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Restricted stock awards and units 571 1,001 588 756 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping | The following table presents estimated fair values of the Company's financial instruments as of the dates presented, whether or not recognized or recorded at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: June 30, 2024 December 31, 2023 (in thousands) Level Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents 1 $ 2,068,831 $ 2,068,831 $ 2,162,534 $ 2,162,534 Equity and other investment securities 1,2 77,221 77,221 76,995 76,995 Investment securities available for sale 1,2 8,503,000 8,503,000 8,829,870 8,829,870 Investment securities held to maturity 3 2,203 2,885 2,300 3,025 Loans held for sale 2 56,310 56,310 30,715 30,715 Loans and leases, net 2,3 37,291,316 35,831,050 37,001,080 35,810,989 Restricted equity securities 1 116,274 116,274 179,274 179,274 Residential mortgage servicing rights 3 110,039 110,039 109,243 109,243 Bank-owned life insurance 1 686,485 686,485 680,948 680,948 Derivatives 2,3 118,288 118,288 38,085 38,085 Financial liabilities: Demand, money market, and savings deposits 1 $ 35,113,311 $ 35,113,311 $ 35,379,451 $ 35,379,451 Time deposits 2 6,409,961 6,384,569 6,227,569 6,201,519 Securities sold under agreements to repurchase 2 197,860 197,860 252,119 252,119 Borrowings 2 3,900,000 3,892,965 3,950,000 3,950,037 Junior subordinated debentures, at fair value 3 310,187 310,187 316,440 316,440 Junior and other subordinated debentures, at amortized cost 3 107,781 97,551 107,895 97,695 Derivatives 2,3 312,542 312,542 261,091 261,091 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of the periods presented: (in thousands) June 30, 2024 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 62,154 $ 43,695 $ 18,459 $ — Equity securities held in rabbi trusts 15,067 15,067 — — Investment securities available for sale U.S. Treasury and agencies 1,467,222 374,667 1,092,555 — Obligations of states and political subdivisions 1,034,523 — 1,034,523 — Mortgage-backed securities and collateralized mortgage obligations 6,001,255 — 6,001,255 — Loans held for sale, at fair value 56,310 — 56,310 — Loans and leases, at fair value 174,021 — 174,021 — Residential mortgage servicing rights, at fair value 110,039 — — 110,039 Derivatives Interest rate forward sales commitments 178 — 178 — Interest rate swaps 117,880 — 117,880 — Foreign currency derivatives 230 — 230 — Total assets measured at fair value $ 9,038,879 $ 433,429 $ 8,495,411 $ 110,039 Financial liabilities: Junior subordinated debentures, at fair value $ 310,187 $ — $ — $ 310,187 Derivatives Interest rate lock commitments 452 — — 452 Interest rate futures 500 — 500 — Interest rate forward sales commitments 243 — 243 — Interest rate swaps 311,192 — 311,192 — Foreign currency derivatives 155 — 155 — Total liabilities measured at fair value $ 622,729 $ — $ 312,090 $ 310,639 (in thousands) December 31, 2023 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 63,298 $ 44,839 $ 18,459 $ — Equity securities held in rabbi trusts 13,697 13,697 — — Investment securities available for sale U.S. Treasury and agencies 1,478,392 373,664 1,104,728 — Obligations of states and political subdivisions 1,072,105 — 1,072,105 — Mortgage-backed securities and collateralized mortgage obligations 6,279,373 — 6,279,373 — Loans held for sale, at fair value 30,715 — 30,715 — Loans and leases, at fair value 275,140 — 275,140 — Residential mortgage servicing rights, at fair value 109,243 — — 109,243 Derivatives Interest rate futures 3,745 — 3,745 — Interest rate forward sales commitments 9 — 9 — Interest rate swaps 33,874 — 33,874 — Foreign currency derivatives 457 — 457 — Total assets measured at fair value $ 9,360,048 $ 432,200 $ 8,818,605 $ 109,243 Financial liabilities: Junior subordinated debentures, at fair value $ 316,440 $ — $ — $ 316,440 Derivatives Interest rate lock commitments 137 — — 137 Interest rate forward sales commitments 535 — 535 — Interest rate swaps 260,064 — 260,064 — Foreign currency derivatives 355 — 355 — Total liabilities measured at fair value $ 577,531 $ — $ 260,954 $ 316,577 |
Fair Value Measurement Inputs and Valuation Techniques | The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis as of June 30, 2024: Financial Instrument Fair Value Valuation Technique Unobservable Input Range of Inputs Weighted Average Assets: Residential mortgage servicing rights $ 110,039 Discounted cash flow Constant prepayment rate 6.03% - 27.36% 6.76% Discount rate 9.50% - 16.10% 10.23% Liabilities: Interest rate lock commitments, net $ 452 Internal pricing model Pull-through rate 69.73% - 100.00% 88.18% Junior subordinated debentures $ 310,187 Discounted cash flow Credit spread 2.05% - 6.20% 3.83% |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the periods indicated: Three Months Ended Three Months Ended June 30, 2024 June 30, 2023 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 110,444 $ 16 $ (309,544) $ 178,800 $ 137 $ (297,721) Change included in earnings (1,945) (70) (7,548) (7,039) (134) (7,049) Change in fair values included in comprehensive income/loss — — (384) — — (14,638) Purchases and issuances 1,540 (1,238) — 1,168 (316) — Sales and settlements — 840 7,289 — 262 6,536 Ending balance $ 110,039 $ (452) $ (310,187) $ 172,929 $ (51) $ (312,872) Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period $ 1,238 $ (452) $ (7,548) $ (2,242) $ (51) $ (7,049) Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period $ — $ — $ (384) $ — $ — $ (14,638) Six Months Ended Six Months Ended June 30, 2024 June 30, 2023 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 109,243 $ (137) $ (316,440) $ 185,017 $ 32 $ (323,639) Change included in earnings (1,981) (86) (15,131) (14,857) (166) (13,728) Change in fair values included in comprehensive income/loss — — 6,069 — — 11,174 Purchases and issuances 2,777 (1,191) — 2,769 22 — Sales and settlements — 962 15,315 — 61 13,321 Ending balance $ 110,039 $ (452) $ (310,187) $ 172,929 $ (51) $ (312,872) Change in unrealized gains or losses for the period included in earnings for assets held at end of period $ 4,355 $ (452) $ (15,131) $ (5,179) $ (51) $ (13,728) Change in unrealized gains or losses for the period included in other comprehensive income for assets held at end of period $ — $ — $ 6,069 $ — $ — $ 11,174 |
Fair Value Measurements, Nonrecurring | The following tables present information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. June 30, 2024 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 14,828 $ — $ — $ 14,828 Total assets measured at fair value on a nonrecurring basis $ 14,828 $ — $ — $ 14,828 December 31, 2023 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 5,036 $ — $ — $ 5,036 Total assets measured at fair value on a nonrecurring basis $ 5,036 $ — $ — $ 5,036 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | The following table presents the losses resulting from nonrecurring fair value adjustments for the periods indicated: Three Months Ended Six Months Ended (in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Loans and leases $ 30,704 $ 29,547 $ 58,878 $ 48,281 Total losses from nonrecurring measurements $ 30,704 $ 29,547 $ 58,878 $ 48,281 |
Fair Value Option, Disclosures | The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of the dates presented: June 30, 2024 December 31, 2023 (in thousands) Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Loans held for sale $ 56,310 $ 54,908 $ 1,402 $ 30,715 $ 29,629 $ 1,086 Loans $ 174,021 $ 208,147 $ (34,126) $ 275,140 $ 320,397 $ (45,257) |
Business Combinations and Ass_3
Business Combinations and Asset Acquisitions - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Feb. 28, 2023 | |
Asset Acquisition [Line Items] | ||||||
Goodwill | $ 1,029,234 | $ 1,029,234 | $ 1,029,234 | |||
Business Combination, Acquisition Related Costs | 14,641 | $ 29,649 | 19,119 | $ 145,547 | ||
Umpqua Bank and Columbia Banking System Merger | ||||||
Asset Acquisition [Line Items] | ||||||
Goodwill | $ 1,000,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 710,200 | |||||
Business Combination, Acquisition Related Costs | $ 2,700 | $ 29,600 | $ 7,200 | $ 145,500 |
Business Combinations and Ass_4
Business Combinations and Asset Acquisitions - Pro Forma (Details) - Umpqua Bank and Columbia Banking System Merger $ in Thousands | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Asset Acquisition [Line Items] | |
Business acquisition, pro forma net interest income | $ 1,014,447 |
Business Acquisition, Pro Forma Non-interest Income | 128,250 |
Business Acquisition, Pro Forma Net Income (Loss) | 381,212 |
Business Combination, Acquisition Related Costs - Combined for proforma | $ 173,500 |
Investment Securities (Amortize
Investment Securities (Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale securities, amortized cost | $ 9,098,151 | $ 9,262,777 |
Available-for-sale securities, unrealized gains | 5,486 | 55,201 |
Available-for-sale securities, unrealized losses | (600,637) | (488,108) |
Available for sale, at fair value | 8,503,000 | 8,829,870 |
Investment securities held to maturity | 2,203 | 2,300 |
Held-to-maturity securities, unrealized gains | 682 | 725 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | 2,885 | 3,025 |
U.S. Treasury and agencies | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale securities, amortized cost | 1,553,422 | 1,551,074 |
Available-for-sale securities, unrealized gains | 140 | 6,192 |
Available-for-sale securities, unrealized losses | (86,340) | (78,874) |
Available for sale, at fair value | 1,467,222 | 1,478,392 |
Obligations of states and political subdivisions | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale securities, amortized cost | 1,064,031 | 1,073,264 |
Available-for-sale securities, unrealized gains | 4,178 | 20,451 |
Available-for-sale securities, unrealized losses | (33,686) | (21,610) |
Available for sale, at fair value | 1,034,523 | 1,072,105 |
Mortgage-backed securities and collateralized mortgage obligations | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale securities, amortized cost | 6,480,698 | 6,638,439 |
Available-for-sale securities, unrealized gains | 1,168 | 28,558 |
Available-for-sale securities, unrealized losses | (480,611) | (387,624) |
Available for sale, at fair value | 6,001,255 | 6,279,373 |
Investment securities held to maturity | 2,203 | 2,300 |
Held-to-maturity securities, unrealized gains | 682 | 725 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | $ 2,885 | $ 3,025 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) $ in Millions | Jun. 30, 2024 USD ($) securities | Dec. 31, 2023 USD ($) securities |
Marketable Securities [Line Items] | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | securities | 1,263 | 600 |
Debt Securities | ||
Marketable Securities [Line Items] | ||
Interest Receivable | $ | $ 33.5 | $ 34.1 |
Investment Securities (Schedule
Investment Securities (Schedule Of Fair Value And Unrealized Losses Of Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 4,276,251 | $ 1,292,794 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (60,346) | (12,009) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 3,660,546 | 2,809,244 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (540,291) | (476,099) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 7,936,797 | 4,102,038 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (600,637) | (488,108) |
U.S. Treasury and agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 503,063 | 99,898 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,498) | (1,074) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 913,887 | 822,245 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (84,842) | (77,800) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,416,950 | 922,143 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (86,340) | (78,874) |
Obligations of states and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 499,412 | 103,256 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7,526) | (580) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 221,760 | 169,231 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (26,160) | (21,030) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 721,172 | 272,487 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (33,686) | (21,610) |
Mortgage-backed securities and collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 3,273,776 | 1,089,640 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (51,322) | (10,355) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,524,899 | 1,817,768 |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (429,289) | (377,269) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 5,798,675 | 2,907,408 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (480,611) | $ (387,624) |
Investment Securities (Schedu_2
Investment Securities (Schedule Of Contractual Maturities Of Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale securities, due within one year, amortized cost | $ 190,692 | |
Available-for-sale securities, after one year through five years, amortized cost | 2,352,102 | |
Available-for-sale securities, after five years through ten years, amortized cost | 2,095,493 | |
Available-for-sale securities, after ten years, amortized cost | 4,459,864 | |
Available-for-sale securities, amortized cost | 9,098,151 | $ 9,262,777 |
Available-for-sale securities, due within one year, fair value | 189,169 | |
Available-for-sale securities, after one year through five years, fair value | 2,289,382 | |
Available-for-sale securities, after five years through ten years, fair value | 2,003,191 | |
Available-for-sale securities, after ten years, fair value | 4,021,258 | |
Debt Securities, Available-for-sale | 8,503,000 | 8,829,870 |
Held-to-maturity securities, due within one year, amortized cost | 0 | |
Held-to-maturity securities, after one year through five years, amortized cost | 3 | |
Held-to-maturity securities, after five years through ten years, amortized cost | 1 | |
Held-to-maturity securities, after ten years, amortized cost | 2,199 | |
Investment securities held to maturity | 2,203 | 2,300 |
Held-to-maturity securities, due within one year, fair value | 0 | |
Held-to-maturity securities, after one year through five years, fair value | 3 | |
Held-to-maturity securities, after five years through ten years, fair value | 486 | |
Held-to-maturity securities, after ten years, fair value | 2,396 | |
Held-to-maturity securities, fair value | $ 2,885 | $ 3,025 |
Investment Securities (Investme
Investment Securities (Investment Securities Pledged To Secure Borrowings And Public Deposits) (Details) $ in Thousands | Jun. 30, 2024 USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
To state and local government to secure public deposits, amortized cost | $ 1,912,250 |
To secure repurchased agreements, amortized cost | 320,289 |
Other securities pledged, amortized cost | 3,534,750 |
Total pledged securities, amortized cost | 5,767,289 |
To state and local governments to secure public deposits, fair value | 1,727,324 |
To secure repurchase agreements, fair value | 291,554 |
Other securities pledged, fair value | 3,249,558 |
Total pledged securities, fair value | $ 5,268,436 |
Loans and Leases (Schedule Of M
Loans and Leases (Schedule Of Major Types Of Loans And Leases) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Receivables [Abstract] | ||
Non-owner occupied term, net | $ 6,407,351 | $ 6,482,940 |
Owner occupied term, net | 5,230,511 | 5,195,605 |
Multifamily, net | 5,868,848 | 5,704,734 |
Construction & development, net | 1,946,693 | 1,747,302 |
Residential development, net | 269,106 | 323,899 |
Term, net | 5,559,548 | 5,536,765 |
Lines of credit & other, net | 2,558,633 | 2,430,127 |
Leases & equipment finance, net | 1,701,943 | 1,729,512 |
Mortgage, net | 5,992,163 | 6,157,166 |
Home equity loans & lines, net | 1,982,786 | 1,938,166 |
Consumer & other, net | 192,405 | 195,735 |
Total loans and leases, net of deferred fees and costs | $ 37,709,987 | $ 37,441,951 |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Total loans pledged to secure borrowings | $ 5,268,436 | $ 5,268,436 | |||
Loans and leases, deferred fees and costs | 67,500 | 67,500 | $ 71,800 | ||
Discounts on acquired loans | 492,500 | 492,500 | 552,500 | ||
Interest income recognized on leases | 5,500 | $ 4,700 | 10,400 | $ 9,400 | |
Receivables Acquired with Deteriorated Credit Quality | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 293,500 | 293,500 | 331,900 | ||
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss | 268,700 | 268,700 | 300,200 | ||
Asset Pledged as Collateral | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Total loans pledged to secure borrowings | $ 22,700,000 | $ 22,700,000 | |||
Minimum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 3 years | 3 years | |||
Maximum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 5 years | 5 years | |||
Loans [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Interest Receivable | $ 154,700 | $ 154,700 | $ 154,900 |
Allowance for Credit Losses (Na
Allowance for Credit Losses (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Mar. 31, 2028 | Mar. 31, 2027 | Mar. 31, 2026 | Mar. 31, 2025 | Jun. 30, 2024 USD ($) risk_code | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) risk_code | Jun. 30, 2023 USD ($) | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Length of time projected by model | 10 years | |||||||
Days Past Due on Leases and Equipment Finance | 181 days | |||||||
Interest Income on Non-Accrual Loans and Leases | $ | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Modified, Subsequent Default | $ | $ 4,357 | $ 0 | $ 4,357 | $ 0 | ||||
Moody's Analytics' May 2024 S2 | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Probability economy performs better than scenario | 75% | |||||||
Probability economy performs worse than scenario | 25% | |||||||
Non homogeneous | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Financing Receivable, Threshold Period Past Due | 90 days | 90 days | ||||||
Pass | Non homogeneous | Minimum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 1 | 1 | ||||||
Pass | Non homogeneous | Maximum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 9 | 9 | ||||||
Watch | Non homogeneous | Minimum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 10 | 10 | ||||||
Watch | Non homogeneous | Maximum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 11 | 11 | ||||||
Special mention | Non homogeneous | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 12 | 12 | ||||||
Substandard | Non homogeneous | Minimum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 13 | 13 | ||||||
Substandard | Non homogeneous | Maximum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 14 | 14 | ||||||
Doubtful | Non homogeneous | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 15 | 15 | ||||||
Loss | Non homogeneous | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 16 | 16 | ||||||
Loss | Non homogeneous | Maximum | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Internal risk rating code (number) | 16 | 16 | ||||||
Expected | Moody's Analytics' May 2024 baseline | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Real GDP Growth | 2.20% | 1.90% | 1.70% | 2.50% | ||||
Unemployment Rate | 4% | 4% | 4.10% | 4% | ||||
Fed Funds Rate | 2.90% | 3.30% | 4.30% | 5.20% | ||||
Expected | Moody's Analytics' May 2024 S2 | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Real GDP Growth | 2.70% | 2.50% | 0.10% | 2% | ||||
Unemployment Rate | 4% | 4.40% | 6.10% | 4.50% | ||||
Fed Funds Rate | 2.70% | 2.20% | 2.80% | 5% |
Allowance for Credit Losses (Al
Allowance for Credit Losses (Allowance for Credit Losses Methodology) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Feb. 28, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Allowance for credit losses on loans and leases | |||||
Balance, beginning of period | $ 414,344 | $ 417,464 | $ 440,871 | $ 301,135 | |
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date | 26,492 | ||||
Provision for credit losses for loans and leases (1) | $ 88,400 | 34,760 | 15,216 | 52,236 | 121,714 |
Charge-offs | (36,201) | (33,478) | (85,954) | (53,747) | |
Recoveries | 5,768 | 5,401 | 11,518 | 9,009 | |
Net charge-offs | (30,433) | (28,077) | (74,436) | (44,738) | |
Balance, end of period | 418,671 | 404,603 | 418,671 | 404,603 | |
Reserve for unfunded commitments | |||||
Balance, beginning of period | 22,868 | 19,029 | 23,208 | 14,221 | |
Off-Balance-Sheet, Credit Loss, Liability, acquired during the period | 5,767 | ||||
Provision (recapture) for credit losses on unfunded commitments | (2,940) | 798 | (3,280) | (161) | |
Balance, end of period | 19,928 | 19,827 | 19,928 | 19,827 | |
Total allowance for credit losses | 438,599 | 424,430 | 438,599 | 424,430 | |
Commercial real estate | |||||
Allowance for credit losses on loans and leases | |||||
Balance, beginning of period | 146,276 | 111,090 | 125,888 | 77,813 | |
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date | 8,736 | ||||
Provision for credit losses for loans and leases (1) | (3,096) | 7,829 | 17,095 | 32,312 | |
Charge-offs | (585) | (174) | (746) | (174) | |
Recoveries | 551 | 209 | 909 | 267 | |
Net charge-offs | (34) | 35 | 163 | 93 | |
Balance, end of period | 143,146 | 118,954 | 143,146 | 118,954 | |
Reserve for unfunded commitments | |||||
Balance, beginning of period | 13,028 | 8,405 | 11,170 | 7,207 | |
Off-Balance-Sheet, Credit Loss, Liability, acquired during the period | 2,257 | ||||
Provision (recapture) for credit losses on unfunded commitments | (3,082) | 1,595 | (1,224) | 536 | |
Balance, end of period | 9,946 | 10,000 | 9,946 | 10,000 | |
Total allowance for credit losses | 153,092 | 128,954 | 153,092 | 128,954 | |
Commercial | |||||
Allowance for credit losses on loans and leases | |||||
Balance, beginning of period | 202,757 | 239,146 | 244,821 | 167,135 | |
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date | 17,204 | ||||
Provision for credit losses for loans and leases (1) | 46,320 | 30 | 46,756 | 71,027 | |
Charge-offs | (33,561) | (32,036) | (80,793) | (51,284) | |
Recoveries | 4,198 | 4,511 | 8,930 | 7,569 | |
Net charge-offs | (29,363) | (27,525) | (71,863) | (43,715) | |
Balance, end of period | 219,714 | 211,651 | 219,714 | 211,651 | |
Reserve for unfunded commitments | |||||
Balance, beginning of period | 5,890 | 6,381 | 7,841 | 3,049 | |
Off-Balance-Sheet, Credit Loss, Liability, acquired during the period | 3,066 | ||||
Provision (recapture) for credit losses on unfunded commitments | 657 | (560) | (1,294) | (294) | |
Balance, end of period | 6,547 | 5,821 | 6,547 | 5,821 | |
Total allowance for credit losses | 226,261 | 217,472 | 226,261 | 217,472 | |
Residential | |||||
Allowance for credit losses on loans and leases | |||||
Balance, beginning of period | 58,010 | 60,613 | 62,004 | 50,329 | |
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date | 454 | ||||
Provision for credit losses for loans and leases (1) | (9,032) | 5,269 | (12,706) | 15,224 | |
Charge-offs | (504) | (4) | (994) | (252) | |
Recoveries | 411 | 63 | 581 | 186 | |
Net charge-offs | (93) | 59 | (413) | (66) | |
Balance, end of period | 48,885 | 65,941 | 48,885 | 65,941 | |
Reserve for unfunded commitments | |||||
Balance, beginning of period | 2,757 | 3,320 | 2,940 | 3,196 | |
Off-Balance-Sheet, Credit Loss, Liability, acquired during the period | 268 | ||||
Provision (recapture) for credit losses on unfunded commitments | (479) | (302) | (662) | (446) | |
Balance, end of period | 2,278 | 3,018 | 2,278 | 3,018 | |
Total allowance for credit losses | 51,163 | 68,959 | 51,163 | 68,959 | |
Consumer Portfolio Segment [Member] | |||||
Allowance for credit losses on loans and leases | |||||
Balance, beginning of period | 7,301 | 6,615 | 8,158 | 5,858 | |
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date | 98 | ||||
Provision for credit losses for loans and leases (1) | 568 | 2,088 | 1,091 | 3,151 | |
Charge-offs | (1,551) | (1,264) | (3,421) | (2,037) | |
Recoveries | 608 | 618 | 1,098 | 987 | |
Net charge-offs | (943) | (646) | (2,323) | (1,050) | |
Balance, end of period | 6,926 | 8,057 | 6,926 | 8,057 | |
Reserve for unfunded commitments | |||||
Balance, beginning of period | 1,193 | 923 | 1,257 | 769 | |
Off-Balance-Sheet, Credit Loss, Liability, acquired during the period | 176 | ||||
Provision (recapture) for credit losses on unfunded commitments | (36) | 65 | (100) | 43 | |
Balance, end of period | 1,157 | 988 | 1,157 | 988 | |
Total allowance for credit losses | $ 8,083 | $ 9,045 | $ 8,083 | $ 9,045 |
Allowance for Credit Losses (No
Allowance for Credit Losses (Non-Accrual Loans and Leases and Loans and Leases Past Due) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 37,709,987 | $ 37,441,951 |
Non-Accrual | 92,570 | 74,371 |
Financing Receivable, Nonaccrual, No Allowance | 4,215 | 4,901 |
Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Non-Accrual | 36,800 | 19,300 |
Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 35,301 | 40,014 |
60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 50,697 | 45,221 |
90 Days or More and Accruing (2) | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 61,570 | 39,542 |
90 Days or More and Accruing (2) | Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 27,900 | 12,300 |
Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 147,568 | 124,777 |
Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 37,469,849 | 37,242,803 |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 19,722,509 | 19,454,480 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 6,407,351 | 6,482,940 |
Non-Accrual | 4,961 | 4,359 |
Financing Receivable, Nonaccrual, No Allowance | 37 | 52 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,230,511 | 5,195,605 |
Non-Accrual | 32,623 | 24,330 |
Financing Receivable, Nonaccrual, No Allowance | 1,604 | 1,352 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,868,848 | 5,704,734 |
Non-Accrual | 0 | 0 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,946,693 | 1,747,302 |
Non-Accrual | 0 | 0 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 269,106 | 323,899 |
Non-Accrual | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 972 | 1,270 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,586 | 3,078 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 528 | 3,312 |
Commercial real estate | 60 to 89 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,946 | 2,191 |
Commercial real estate | 60 to 89 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing (2) | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 437 |
Commercial real estate | 90 Days or More and Accruing (2) | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 433 |
Commercial real estate | 90 Days or More and Accruing (2) | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing (2) | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing (2) | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,500 | 5,019 |
Commercial real estate | Total Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,532 | 5,702 |
Commercial real estate | Total Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Current and Other | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 6,400,890 | 6,473,562 |
Commercial real estate | Current and Other | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,194,356 | 5,165,573 |
Commercial real estate | Current and Other | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,868,848 | 5,704,734 |
Commercial real estate | Current and Other | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,946,693 | 1,747,302 |
Commercial real estate | Current and Other | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 269,106 | 323,899 |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 9,820,124 | 9,696,404 |
Commercial | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,559,548 | 5,536,765 |
Non-Accrual | 29,583 | 14,519 |
Financing Receivable, Nonaccrual, No Allowance | 2,574 | 3,497 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,558,633 | 2,430,127 |
Non-Accrual | 2,166 | 2,760 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,701,943 | 1,729,512 |
Non-Accrual | 23,237 | 28,403 |
Commercial | Greater than 30 to 59 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,714 | 6,341 |
Commercial | Greater than 30 to 59 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 4,676 | 1,647 |
Commercial | Greater than 30 to 59 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 16,659 | 22,217 |
Commercial | 60 to 89 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,700 | 2,101 |
Commercial | 60 to 89 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 4,590 | 1,137 |
Commercial | 60 to 89 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 20,564 | 24,178 |
Commercial | 90 Days or More and Accruing (2) | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 202 |
Commercial | 90 Days or More and Accruing (2) | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 145 | 66 |
Commercial | 90 Days or More and Accruing (2) | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,633 | 7,965 |
Commercial | Total Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 9,414 | 8,644 |
Commercial | Total Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 9,411 | 2,850 |
Commercial | Total Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 42,856 | 54,360 |
Commercial | Current and Other | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,520,551 | 5,513,602 |
Commercial | Current and Other | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,547,056 | 2,424,517 |
Commercial | Current and Other | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,635,850 | 1,646,749 |
Residential | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 7,974,949 | 8,095,332 |
Residential | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,992,163 | 6,157,166 |
Non-Accrual | 0 | 0 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,982,786 | 1,938,166 |
Non-Accrual | 0 | 0 |
Residential | Greater than 30 to 59 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 282 |
Residential | Greater than 30 to 59 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 7,143 | 4,401 |
Residential | 60 to 89 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 13,942 | 9,410 |
Residential | 60 to 89 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,966 | 2,373 |
Residential | 90 Days or More and Accruing (2) | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 52,652 | 26,331 |
Residential | 90 Days or More and Accruing (2) | Mortgage, net | GNMA Loans | ||
Financing Receivable, Past Due [Line Items] | ||
GNMA Loans past due by 90 days, but not yet repurchased | 1,000 | 1,000 |
Residential | 90 Days or More and Accruing (2) | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,920 | 3,782 |
Residential | Total Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 66,594 | 36,023 |
Residential | Total Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 13,029 | 10,556 |
Residential | Current and Other | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,925,569 | 6,121,143 |
Residential | Current and Other | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,969,757 | 1,927,610 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 192,405 | 195,735 |
Non-Accrual | 0 | 0 |
Consumer Portfolio Segment [Member] | Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 551 | 778 |
Consumer Portfolio Segment [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 461 | 519 |
Consumer Portfolio Segment [Member] | 90 Days or More and Accruing (2) | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 220 | 326 |
Consumer Portfolio Segment [Member] | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,232 | 1,623 |
Consumer Portfolio Segment [Member] | Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 191,173 | $ 194,112 |
Allowance for Credit Losses (Co
Allowance for Credit Losses (Collateral Dependent Loans and Leases) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 37,709,987 | $ 37,441,951 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 19,722,509 | 19,454,480 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 6,407,351 | 6,482,940 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,230,511 | 5,195,605 |
Commercial | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 9,820,124 | 9,696,404 |
Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,559,548 | 5,536,765 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,558,633 | 2,430,127 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,701,943 | 1,729,512 |
Residential | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 7,974,949 | 8,095,332 |
Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,992,163 | 6,157,166 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,982,786 | $ 1,938,166 |
Residential Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 79,634 | |
Residential Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,397 | |
Residential Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 74,806 | |
Residential Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,431 | |
Commercial Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 35,168 | |
Commercial Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,242 | |
Commercial Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 29,621 | |
Commercial Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,305 | |
Commercial Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 39,611 | |
General Business Assets | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 16,124 | |
General Business Assets | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 250 | |
General Business Assets | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 23,237 | |
General Business Assets | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,931 | |
Other | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,931 | |
Other | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Total | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 158,344 | |
Total | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,242 | |
Total | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 29,621 | |
Total | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 22,452 | |
Total | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,555 | |
Total | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 23,237 | |
Total | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 74,806 | |
Total | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 2,431 |
Allowance for Credit Losses (Sc
Allowance for Credit Losses (Schedule Of Financial Difficulty and Modification) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 26,508 | $ 18,460 | $ 60,817 | $ 30,550 |
% of total class of financing receivable | 0.07% | 0.05% | 0.16% | 0.08% |
Financing Receivable, Modified, Subsequent Default | $ 4,357 | $ 0 | $ 4,357 | $ 0 |
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 161,109 | 30,550 | 161,109 | 30,550 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 6,688 | 1,353 | 6,688 | 1,353 |
Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 145,043 | 29,086 | 145,043 | 29,086 |
Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 193 | 111 | 193 | 111 |
60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 4,067 | 0 | 4,067 | 0 |
90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 5,118 | 0 | 5,118 | 0 |
Interest Rate Reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 5,278 | 1,353 | 5,278 | 1,353 |
Financing Receivable, Modified, Subsequent Default | 3,064 | 3,064 | ||
Term Extension | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 11,534 | 2,498 | 20,770 | 4,002 |
Financing Receivable, Modified, Subsequent Default | 550 | 550 | ||
Other -Than-Insignificant Payment Delay | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 9,696 | 13,348 | 34,769 | 22,017 |
Financing Receivable, Modified, Subsequent Default | 743 | 743 | ||
Combination - Interest Rate Reduction and Term Extension | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 244 | |||
Term Extension and Other-than-Insignificant Payment Delay | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 1,261 | 2,934 | ||
Commercial real estate | Non-owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 17,577 | |||
% of total class of financing receivable | 0.27% | |||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 47,557 | $ 47,557 | ||
Financing Receivable, Modified in Period, Nonaccrual, Amount | 0 | 0 | ||
Commercial real estate | Non-owner occupied term, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 47,557 | 47,557 | ||
Commercial real estate | Non-owner occupied term, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Commercial real estate | Non-owner occupied term, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Commercial real estate | Non-owner occupied term, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Commercial real estate | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 4,041 | $ 976 | $ 4,571 | $ 976 |
% of total class of financing receivable | 0.08% | 0.02% | 0.09% | 0.02% |
Financing Receivable, Modified, Subsequent Default | $ 3,064 | $ 3,064 | ||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 5,627 | $ 976 | 5,627 | $ 976 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 3,594 | 976 | 3,594 | 976 |
Commercial real estate | Owner occupied term, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 2,033 | 0 | 2,033 | 0 |
Commercial real estate | Owner occupied term, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial real estate | Owner occupied term, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial real estate | Owner occupied term, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial real estate | Interest Rate Reduction | Non-owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Commercial real estate | Interest Rate Reduction | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 4,041 | $ 976 | $ 4,041 | $ 976 |
Financing receivable, modified, weighted average interest rate decrease from modification | 3.79% | 2.41% | 3.79% | 2.41% |
Financing Receivable, Modified, Subsequent Default | $ 3,064 | $ 3,064 | ||
Commercial real estate | Term Extension | Non-owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Financing Receivable, Modified, Increase (Decrease) from Modification | 4,000 | |||
Commercial real estate | Term Extension | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | $ 0 | 0 | $ 0 |
Financing Receivable, Modified, Increase (Decrease) from Modification | 51 | |||
Financing Receivable, Modified, Subsequent Default | 0 | 0 | ||
Commercial real estate | Other -Than-Insignificant Payment Delay | Non-owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 17,577 | |||
Commercial real estate | Other -Than-Insignificant Payment Delay | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | 530 | 0 |
Financing Receivable, Modified, Subsequent Default | 0 | 0 | ||
Commercial real estate | Combination - Interest Rate Reduction and Term Extension | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Commercial real estate | Term Extension and Other-than-Insignificant Payment Delay | Owner occupied term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | ||
Commercial | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 8,718 | $ 377 | $ 9,169 | $ 377 |
% of total class of financing receivable | 0.16% | 0.01% | 0.16% | 0.01% |
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | $ 11,021 | $ 377 | $ 11,021 | $ 377 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 1,237 | 377 | 1,237 | 377 |
Commercial | Term, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 9,784 | 0 | 9,784 | 0 |
Commercial | Term, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial | Term, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial | Term, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 4,047 | $ 1,850 | $ 11,232 | $ 2,945 |
% of total class of financing receivable | 0.16% | 0.08% | 0.44% | 0.13% |
Financing Receivable, Modified, Subsequent Default | $ 250 | $ 250 | ||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 53,018 | $ 2,945 | 53,018 | $ 2,945 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 1,751 | 0 | 1,751 | 0 |
Commercial | Lines of credit & other, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 50,268 | 2,945 | 50,268 | 2,945 |
Commercial | Lines of credit & other, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial | Lines of credit & other, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 999 | 0 | 999 | 0 |
Commercial | Lines of credit & other, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Commercial | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 866 | $ 194 | $ 1,457 | $ 603 |
% of total class of financing receivable | 0.05% | 0.01% | 0.09% | 0.03% |
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | $ 1,971 | $ 603 | $ 1,971 | $ 603 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 106 | 0 | 106 | 0 |
Commercial | Leases & equipment finance, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 1,430 | 492 | 1,430 | 492 |
Commercial | Leases & equipment finance, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 193 | 111 | 193 | 111 |
Commercial | Leases & equipment finance, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 227 | 0 | 227 | 0 |
Commercial | Leases & equipment finance, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 15 | 0 | 15 | 0 |
Commercial | Interest Rate Reduction | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,237 | $ 377 | $ 1,237 | $ 377 |
Financing receivable, modified, weighted average interest rate decrease from modification | 5% | 4.50% | 5% | 4.50% |
Commercial | Interest Rate Reduction | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 | $ 0 | $ 0 |
Financing Receivable, Modified, Subsequent Default | 0 | 0 | ||
Commercial | Interest Rate Reduction | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | 0 | 0 |
Commercial | Term Extension | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 5,493 | 0 | $ 5,944 | 0 |
Financing receivable, modified, weighted average term increase from modification | 6 months | 6 months | ||
Commercial | Term Extension | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 3,728 | $ 1,850 | $ 10,913 | $ 2,945 |
Financing receivable, modified, weighted average term increase from modification | 9 months | 6 months | 7 months | 8 months |
Financing Receivable, Modified, Subsequent Default | $ 250 | $ 250 | ||
Commercial | Term Extension | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 866 | $ 194 | $ 1,457 | $ 603 |
Financing receivable, modified, weighted average term increase from modification | 11 months | 10 months | 10 months | 9 months |
Commercial | Other -Than-Insignificant Payment Delay | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,988 | $ 0 | $ 1,988 | $ 0 |
Financing Receivable, Modified, Increase (Decrease) from Modification | 77 | 77 | ||
Commercial | Other -Than-Insignificant Payment Delay | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 319 | 0 | 319 | 0 |
Financing Receivable, Modified, Increase (Decrease) from Modification | 48 | 48 | ||
Financing Receivable, Modified, Subsequent Default | 0 | 0 | ||
Commercial | Other -Than-Insignificant Payment Delay | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | 0 | 0 |
Commercial | Combination - Interest Rate Reduction and Term Extension | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Commercial | Combination - Interest Rate Reduction and Term Extension | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Commercial | Combination - Interest Rate Reduction and Term Extension | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Commercial | Term Extension and Other-than-Insignificant Payment Delay | Term, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | ||
Commercial | Term Extension and Other-than-Insignificant Payment Delay | Lines of credit & other, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | ||
Commercial | Term Extension and Other-than-Insignificant Payment Delay | Leases & equipment finance, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | ||
Residential | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 8,836 | $ 15,063 | $ 16,811 | $ 25,405 |
% of total class of financing receivable | 0.15% | 0.24% | 0.28% | 0.40% |
Financing Receivable, Modified, Subsequent Default | $ 1,043 | $ 1,043 | ||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 41,915 | $ 25,405 | 41,915 | $ 25,405 |
Financing Receivable, Modified in Period, Nonaccrual, Amount | 0 | 0 | 0 | 0 |
Residential | Mortgage, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 33,971 | 25,405 | 33,971 | 25,405 |
Residential | Mortgage, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | 0 | 0 |
Residential | Mortgage, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 2,841 | 0 | 2,841 | 0 |
Residential | Mortgage, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 5,103 | 0 | 5,103 | 0 |
Residential | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 244 | |||
% of total class of financing receivable | 0.01% | |||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 244 | $ 244 | ||
Financing Receivable, Modified in Period, Nonaccrual, Amount | 0 | 0 | ||
Residential | Home equity loans & lines, net | Current and Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 244 | 244 | ||
Residential | Home equity loans & lines, net | Greater than 30 to 59 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Residential | Home equity loans & lines, net | 60 to 89 Days Past Due | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Residential | Home equity loans & lines, net | 90 Days or More and Accruing (2) | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, after 12 Months | 0 | 0 | ||
Residential | Interest Rate Reduction | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | 0 | 0 |
Financing Receivable, Modified, Subsequent Default | 0 | 0 | ||
Residential | Interest Rate Reduction | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Residential | Term Extension | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 1,447 | 454 | 2,456 | 454 |
Financing Receivable, Modified, Increase (Decrease) from Modification | 531 | 916 | 1,000 | 1,200 |
Financing Receivable, Modified, Subsequent Default | 300 | 300 | ||
Residential | Term Extension | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Residential | Other -Than-Insignificant Payment Delay | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 7,389 | $ 13,348 | $ 14,355 | $ 22,017 |
Financing receivable, modified, weighted average term increase from modification | 4 years 8 months 12 days | 6 years 4 months 24 days | 8 years 3 months 18 days | 6 years 4 months 24 days |
Financing Receivable, Modified, Subsequent Default | $ 743 | $ 743 | ||
Residential | Other -Than-Insignificant Payment Delay | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | |||
Residential | Combination - Interest Rate Reduction and Term Extension | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | |||
Residential | Combination - Interest Rate Reduction and Term Extension | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 244 | |||
Financing receivable, modified, weighted average term increase from modification | 6 years 10 months 24 days | |||
Financing receivable, modified, weighted average interest rate decrease from modification | 3.44% | |||
Residential | Term Extension and Other-than-Insignificant Payment Delay | Mortgage, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,261 | $ 2,934 | ||
Financing receivable, modified, weighted average term increase from modification | 13 years 10 months 24 days | 13 years 4 months 24 days | ||
Financing Receivable, Modified, Increase (Decrease) from Modification | $ 37 | $ 156 | ||
Residential | Term Extension and Other-than-Insignificant Payment Delay | Home equity loans & lines, net | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 |
Allowance for Credit Losses (In
Allowance for Credit Losses (Internal Risk Rating By Loan Class) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | $ 1,690,443 | $ 3,747,171 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,624,476 | 8,958,366 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,764,286 | 8,055,492 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,583,754 | 2,712,461 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,536,686 | 2,838,682 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,745,454 | 5,504,993 |
Financing Receivable, Revolving | 5,705,320 | 5,504,255 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 59,568 | 120,531 |
Financing Receivable, before Allowance for Credit Loss, Total | 37,709,987 | 37,441,951 |
Commercial real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 704,526 | 1,763,678 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,815,283 | 5,176,047 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,228,706 | 4,426,895 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,246,442 | 1,675,601 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,607,242 | 2,022,584 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,716,168 | 4,072,737 |
Financing Receivable, Revolving | 395,197 | 310,789 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 8,945 | 6,149 |
Financing Receivable, before Allowance for Credit Loss, Total | 19,722,509 | 19,454,480 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 137,780 | 614,639 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 616,393 | 1,308,209 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,291,711 | 1,185,963 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,173,275 | 617,448 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 594,121 | 802,515 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,531,161 | 1,912,972 |
Financing Receivable, Revolving | 61,247 | 41,194 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 1,663 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 6,407,351 | 6,482,940 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 86 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 86 | 0 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 258,294 | 538,091 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 523,579 | 1,082,008 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,078,236 | 1,026,586 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 983,317 | 471,193 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 455,047 | 606,739 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,855,515 | 1,401,993 |
Financing Receivable, Revolving | 76,469 | 68,995 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 54 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,230,511 | 5,195,605 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 16 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 569 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 91 | 787 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 660 | 803 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 70,557 | 272,084 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 279,966 | 1,982,075 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,008,795 | 1,661,770 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,734,111 | 400,280 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 409,972 | 591,340 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,309,055 | 745,705 |
Financing Receivable, Revolving | 56,392 | 51,480 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,868,848 | 5,704,734 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | 0 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 206,345 | 248,623 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 343,932 | 717,677 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 834,408 | 530,305 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 355,244 | 186,680 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 147,635 | 21,990 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,467 | 10,738 |
Financing Receivable, Revolving | 39,662 | 31,289 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,946,693 | 1,747,302 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | 0 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 31,550 | 90,241 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 51,413 | 86,078 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,556 | 22,271 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 495 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 467 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 970 | 1,329 |
Financing Receivable, Revolving | 161,427 | 117,831 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 7,228 | 6,149 |
Financing Receivable, before Allowance for Credit Loss, Total | 269,106 | 323,899 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 0 | 0 |
Commercial real estate | Pass/Watch | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 120,203 | 582,178 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 586,414 | 1,307,143 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,287,806 | 1,182,485 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,170,822 | 615,021 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 593,654 | 764,821 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,452,050 | 1,832,231 |
Financing Receivable, Revolving | 61,247 | 41,194 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 1,663 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 6,273,859 | 6,325,073 |
Commercial real estate | Pass/Watch | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 254,451 | 532,482 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 516,936 | 1,067,388 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,063,606 | 972,130 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 923,506 | 448,569 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 427,382 | 581,616 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,781,628 | 1,351,172 |
Financing Receivable, Revolving | 74,543 | 67,063 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 54 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,042,106 | 5,020,420 |
Commercial real estate | Pass/Watch | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 70,557 | 272,084 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 279,966 | 1,982,075 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,007,723 | 1,660,492 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,732,846 | 400,280 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 409,038 | 590,379 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,298,746 | 745,705 |
Financing Receivable, Revolving | 56,392 | 51,480 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,855,268 | 5,702,495 |
Commercial real estate | Pass/Watch | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 206,345 | 248,623 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 343,932 | 716,207 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 834,408 | 530,305 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 340,935 | 186,680 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 147,635 | 21,990 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,467 | 10,738 |
Financing Receivable, Revolving | 39,662 | 31,289 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,932,384 | 1,745,832 |
Commercial real estate | Pass/Watch | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 31,550 | 90,241 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 51,413 | 86,078 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,556 | 22,271 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 495 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 467 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 970 | 1,329 |
Financing Receivable, Revolving | 161,427 | 116,490 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 7,228 | 6,149 |
Financing Receivable, before Allowance for Credit Loss, Total | 269,106 | 322,558 |
Commercial real estate | Special mention | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 317 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 844 | 3,478 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,243 | 1,337 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 467 | 2,480 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,452 | 16,352 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 22,006 | 23,964 |
Commercial real estate | Special mention | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 249 | 1,575 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,280 | 5,950 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,029 | 6,175 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,989 | 4,945 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,959 | 14,610 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 25,538 | 15,513 |
Financing Receivable, Revolving | 1,926 | 1,932 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 57,970 | 50,700 |
Commercial real estate | Special mention | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,072 | 1,278 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,265 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 934 | 961 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,242 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,513 | 2,239 |
Commercial real estate | Special mention | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1,470 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 14,309 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 14,309 | 1,470 |
Commercial real estate | Special mention | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 1,341 | |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | |
Financing Receivable, before Allowance for Credit Loss, Total | 1,341 | |
Commercial real estate | Substandard | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 17,577 | 32,461 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 29,979 | 749 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,061 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 528 | 1,090 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 35,214 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 59,659 | 64,304 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 110,804 | 133,818 |
Commercial real estate | Substandard | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 3,594 | 4,034 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,363 | 7,707 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,714 | 48,281 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 47,633 | 17,275 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17,302 | 10,513 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 47,366 | 35,216 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 124,972 | 123,026 |
Commercial real estate | Substandard | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,067 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | |
Financing Receivable, before Allowance for Credit Loss, Total | 4,067 | |
Commercial real estate | Doubtful | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 682 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | |
Financing Receivable, before Allowance for Credit Loss, Total | 682 | |
Commercial real estate | Doubtful | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,924 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 983 | 90 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,907 | 90 |
Commercial real estate | Loss | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 85 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | |
Financing Receivable, before Allowance for Credit Loss, Total | 85 | |
Commercial real estate | Loss | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 963 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 963 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 189 | 404 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 404 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 2 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,556 | 1,369 |
Commercial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 883,840 | 1,718,460 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,532,640 | 1,914,454 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,686,193 | 1,259,451 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,138,764 | 508,328 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 419,110 | 365,168 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 851,787 | 640,308 |
Financing Receivable, Revolving | 3,273,229 | 3,196,423 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 34,561 | 93,812 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,820,124 | 9,696,404 |
Commercial | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 442,906 | 861,823 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 822,145 | 1,246,020 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,172,331 | 977,414 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 951,038 | 396,356 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 344,647 | 282,947 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 759,984 | 588,163 |
Financing Receivable, Revolving | 1,063,591 | 1,129,029 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,906 | 55,013 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,559,548 | 5,536,765 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 3,000 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 625 | 1,418 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 1,246 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 774 | 415 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 319 | 389 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 605 | 886 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 820 | 44 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 808 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 4,389 | 6,960 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 89,385 | 113,643 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 92,078 | 111,280 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 74,670 | 59,035 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 25,989 | 12,266 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,395 | 10,928 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24,823 | 16,782 |
Financing Receivable, Revolving | 2,209,638 | 2,067,394 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 31,655 | 38,799 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,558,633 | 2,430,127 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 30 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 309 | 168 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 309 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 32 | 47 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 42 | 144 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 384 | 45 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 18,798 | 1,058 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 1,107 | 1,809 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 20,981 | 3,301 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 351,549 | 742,994 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 618,417 | 557,154 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 439,192 | 223,002 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 161,737 | 99,706 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 64,068 | 71,293 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 66,980 | 35,363 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,701,943 | 1,729,512 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 2,324 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 9,668 | 47,116 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 29,002 | 31,569 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 11,349 | 9,111 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 3,279 | 6,394 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 2,125 | 3,087 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 55,423 | 99,601 |
Commercial | Pass/Watch | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 423,462 | 835,662 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 812,209 | 1,215,539 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,143,205 | 933,970 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 926,619 | 391,735 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 339,661 | 271,974 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 726,874 | 560,595 |
Financing Receivable, Revolving | 1,054,033 | 1,097,630 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,906 | 50,874 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,428,969 | 5,357,979 |
Commercial | Pass/Watch | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 55,248 | 105,360 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 87,188 | 105,791 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 70,624 | 58,441 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 25,376 | 12,266 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 10,380 | 10,927 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24,589 | 16,108 |
Financing Receivable, Revolving | 2,072,679 | 1,922,115 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 25,572 | 5,676 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,371,656 | 2,236,684 |
Commercial | Pass/Watch | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 348,475 | 682,866 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 555,894 | 501,867 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 396,315 | 200,499 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 145,332 | 92,402 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 59,880 | 61,065 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 63,466 | 33,908 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,569,362 | 1,572,607 |
Commercial | Special mention | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 301 | 23,250 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,413 | 14,875 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 13,324 | 29,128 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,015 | 109 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 689 | 3,340 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,411 | 16,476 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 45,153 | 87,178 |
Commercial | Special mention | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 511 | 476 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,385 | 635 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 614 | 394 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 452 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 15 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 102 | 80 |
Financing Receivable, Revolving | 35,714 | 61,927 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 687 | 403 |
Financing Receivable, before Allowance for Credit Loss, Total | 39,480 | 63,915 |
Commercial | Special mention | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 459 | 46,806 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 44,362 | 15,962 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,718 | 6,182 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,216 | 1,688 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 777 | 7,224 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 412 | 77 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 62,944 | 77,939 |
Commercial | Substandard | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,143 | 2,911 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,363 | 13,862 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,277 | 13,981 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9,271 | 3,068 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,083 | 7,385 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,723 | 7,859 |
Financing Receivable, Revolving | 9,558 | 31,399 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 4,139 |
Financing Receivable, before Allowance for Credit Loss, Total | 66,418 | 84,604 |
Commercial | Substandard | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 33,626 | 7,807 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,505 | 4,161 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,241 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 161 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 132 | 593 |
Financing Receivable, Revolving | 101,046 | 83,304 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 5,396 | 32,509 |
Financing Receivable, before Allowance for Credit Loss, Total | 147,107 | 128,374 |
Commercial | Substandard | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,136 | 7,094 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,606 | 15,274 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,499 | 6,704 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,793 | 2,163 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,436 | 1,246 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,934 | 1,161 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 30,404 | 33,642 |
Commercial | Doubtful | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,160 | 1,329 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,525 | 335 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,804 | 796 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 683 | 197 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,231 | 699 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 15,403 | 3,356 |
Commercial | Doubtful | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 199 | 48 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 211 |
Financing Receivable, before Allowance for Credit Loss, Total | 199 | 259 |
Commercial | Doubtful | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 459 | 5,833 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,648 | 22,566 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 17,401 | 9,036 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,961 | 3,161 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,920 | 1,700 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,117 | 208 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 36,506 | 42,504 |
Commercial | Loss | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 415 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 329 | 648 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,531 | 51 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,745 | 2,534 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,605 | 3,648 |
Commercial | Loss | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 693 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 191 | 200 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 1 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 191 | 895 |
Commercial | Loss | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 20 | 395 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 907 | 1,485 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,259 | 581 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 435 | 292 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 55 | 58 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 51 | 9 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,727 | 2,820 |
Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 82,259 | 224,918 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 255,360 | 1,852,894 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,836,924 | 2,362,009 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,192,685 | 523,566 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 506,474 | 447,434 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,170,787 | 786,796 |
Financing Receivable, Revolving | 1,915,096 | 1,877,886 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 15,364 | 19,829 |
Financing Receivable, before Allowance for Credit Loss, Total | 7,974,949 | 8,095,332 |
Residential | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 82,197 | 224,342 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 254,445 | 1,851,652 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,833,940 | 2,360,953 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,190,816 | 523,466 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 505,747 | 446,287 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,125,018 | 750,466 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,992,163 | 6,157,166 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 292 | 0 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 368 | 6 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 660 | 6 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 62 | 576 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 915 | 1,242 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,984 | 1,056 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,869 | 100 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 727 | 1,147 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 45,769 | 36,330 |
Financing Receivable, Revolving | 1,915,096 | 1,877,886 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 15,364 | 19,829 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,982,786 | 1,938,166 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 0 | 12 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 0 | 29 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 0 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 109 | 52 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 225 | 448 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 0 | 0 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 334 | 541 |
Residential | Pass/Watch | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 77,660 | 221,207 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 245,163 | 1,845,395 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,825,600 | 2,355,420 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,179,061 | 521,177 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 501,053 | 443,152 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,098,078 | 735,801 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,926,615 | 6,122,152 |
Residential | Pass/Watch | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 62 | 562 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 915 | 1,242 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,747 | 1,056 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,825 | 100 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 626 | 896 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 43,186 | 35,677 |
Financing Receivable, Revolving | 1,906,045 | 1,870,270 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 14,349 | 17,807 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,969,755 | 1,927,610 |
Residential | Special mention | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,138 | 1,125 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,359 | 916 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 294 | 1,737 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,431 | 651 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 330 | 1,156 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,390 | 4,109 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 13,942 | 9,694 |
Residential | Special mention | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 237 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 44 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 114 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,463 | 378 |
Financing Receivable, Revolving | 7,925 | 5,052 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 440 | 1,230 |
Financing Receivable, before Allowance for Credit Loss, Total | 10,109 | 6,774 |
Residential | Substandard | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,041 | 1,851 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,685 | 2,617 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,586 | 2,826 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,025 | 787 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,977 | 1,759 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18,457 | 8,746 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 40,771 | 18,586 |
Residential | Substandard | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 137 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 480 | 190 |
Financing Receivable, Revolving | 306 | 1,278 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 243 | 174 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,029 | 1,779 |
Residential | Loss | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 358 | 159 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,238 | 2,724 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,460 | 970 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,299 | 851 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,387 | 220 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,093 | 1,810 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 10,835 | 6,734 |
Residential | Loss | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 14 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 101 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 640 | 85 |
Financing Receivable, Revolving | 820 | 1,286 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 332 | 618 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,893 | 2,003 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,818 | 40,115 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,193 | 14,971 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,463 | 7,137 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,863 | 4,966 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,860 | 3,496 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,712 | 5,152 |
Financing Receivable, Revolving | 121,798 | 119,157 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 698 | 741 |
Financing Receivable, before Allowance for Credit Loss, Total | 192,405 | 195,735 |
Financing receivable, excluding accrued interest, Year One, Originated, Current Fiscal Year, Write-off | 0 | 3,313 |
Financing receivable, excluding accrued interest, Year Two, Originated, Current Fiscal Year Two, Write-off | 1,614 | 132 |
Financing receivable, excluding accrued interest, Year Three, Originated, Current Fiscal Year, Write-off | 94 | 23 |
Financing receivable, excluding accrued interest, Year Four, Originated, Current Fiscal Year, Write-off | 25 | 20 |
Financing receivable, excluding accrued interest, Year Five, Originated, Current Fiscal Year, Write-off | 0 | 29 |
Financing receivable, excluding accrued interest, Originated, More than Five Years before Current Fiscal Year, Write-off | 236 | 288 |
Financing Receivable, Excluding Accrued Interest, Revolving, Writeoff | 1,170 | 1,485 |
Financing Receivable, Excluding Accrued Interest, Revolving, Converted to Term Loan, Writeoff | 282 | 472 |
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff | 3,421 | 5,762 |
Consumer Portfolio Segment [Member] | Pass/Watch | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 19,763 | 39,977 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21,138 | 14,919 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,441 | 7,132 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 5,863 | 4,953 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,860 | 3,441 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,648 | 5,022 |
Financing Receivable, Revolving | 121,010 | 118,125 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 449 | 543 |
Financing Receivable, before Allowance for Credit Loss, Total | 191,172 | 194,112 |
Consumer Portfolio Segment [Member] | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 55 | 138 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 49 | 52 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 22 | 5 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 13 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 52 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 61 | 122 |
Financing Receivable, Revolving | 642 | 779 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 183 | 135 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,012 | 1,296 |
Consumer Portfolio Segment [Member] | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 3 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3 | 1 |
Financing Receivable, Revolving | 146 | 251 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 66 | 63 |
Financing Receivable, before Allowance for Credit Loss, Total | $ 221 | 318 |
Consumer Portfolio Segment [Member] | Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7 | |
Financing Receivable, Revolving | 2 | |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | |
Financing Receivable, before Allowance for Credit Loss, Total | $ 9 |
Intangible Assets, Goodwill a_3
Intangible Assets, Goodwill and Other (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Goodwill | $ 1,029,234,000 | $ 1,029,234,000 | $ 1,029,234,000 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years | |||
Goodwill and Intangible Asset Impairment | $ 0 | ||||
Intangible amortization | $ (29,230,000) | $ (35,553,000) | $ (61,321,000) | $ (48,213,000) |
Intangible Assets, Goodwill a_4
Intangible Assets, Goodwill and Other (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Finite-Lived Intangible Assets [Roll Forward] | ||
Finite-Lived Intangible Assets, Gross | $ 764,791 | $ 764,791 |
Finite-Lived Intangible Assets, Accumulated Amortization | 222,433 | 161,112 |
Finite-Lived Intangible Assets, Net | $ 542,358 | $ 603,679 |
Intangible Assets, Goodwill a_5
Intangible Assets, Goodwill and Other (Schedule of Other Intangible Assets Future Amortization Expense) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
Remainder of 2024 | $ 58,110 | |
2025 | 105,458 | |
2026 | 92,545 | |
2027 | 79,632 | |
2028 | 66,719 | |
Thereafter | 139,894 | |
Total intangible assets | $ 542,358 | $ 603,679 |
Residential Mortgage Servicin_3
Residential Mortgage Servicing Rights (Schedule Of Changes In Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Balance, beginning of period | $ 110,444 | $ 178,800 | $ 109,243 | $ 185,017 |
Additions for new MSR capitalized | 1,540 | 1,168 | 2,777 | 2,769 |
Changes due to collection/realization of expected cash flows over time | (3,183) | (4,797) | (6,336) | (9,678) |
Changes due to valuation inputs or assumptions | 1,238 | (2,242) | 4,355 | (5,179) |
Balance, end of period | $ 110,039 | $ 172,929 | $ 110,039 | $ 172,929 |
Residential Mortgage Servicin_4
Residential Mortgage Servicing Rights (Schedule Of Information Relates To Serviced Loan Portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Transfers and Servicing [Abstract] | ||
Balance of loans serviced for others | $ 8,120,046 | $ 8,175,664 |
MSR as a percentage of serviced loans | 1.36% | 1.34% |
Residential Mortgage Servicin_5
Residential Mortgage Servicing Rights (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Transfers and Servicing of Financial Assets [Abstract] | ||||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 6 | $ 9.2 | $ 12 | $ 18.6 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Borrowings | $ 3,900,000 | $ 3,950,000 |
Advance from Federal Home Loan Bank | 2,400,000 | 3,800,000 |
FRB Bank Team Funding Program | Federal Reserve Bank Advances [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other Short-Term Borrowings | $ 1,600,000 | $ 200,000 |
Maximum | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB Advances Fixed Interest Rates | 5.25% | |
Maximum | FRB Bank Team Funding Program | Federal Reserve Bank Advances [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other short-term borrowings, interest rate | 4.93% | |
Minimum | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB Advances Fixed Interest Rates | 5.10% | |
Minimum | FRB Bank Team Funding Program | Federal Reserve Bank Advances [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other short-term borrowings, interest rate | 4.76% |
Commitments and Contingencies_2
Commitments and Contingencies (Schedule Of Commitments And Contingencies) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | ||
Commitments to extend credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 10,763,609 | |
Forward sales commitments | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 82,618 | 39,500 |
Commitments to originate residential mortgage loans held for sale | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 54,322 | $ 20,600 |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 217,245 |
Commitments and Contingencies_3
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |||||
Financial guarantees in connection with standby letters of credit | $ 0 | $ 0 | $ 0 | $ 0 | |
Standby letters of credit expiring within one year | 202.1 | 202.1 | |||
Standby letters of credit expiring thereafter | 15.1 | 15.1 | |||
Loss Contingency Accrual | 6.3 | 6.3 | |||
Concentration Risk [Line Items] | |||||
Prior Bankruptcy Recoveries by Plaintiffs | $ 110 | 110 | |||
iCap Entities [Member] | |||||
Concentration Risk [Line Items] | |||||
Loss Contingency, Damages Sought, Value | 250 | ||||
Minimum | Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc. [Member] | |||||
Concentration Risk [Line Items] | |||||
Loss Contingency, Damages Sought, Value | 386.2 | ||||
Maximum | Professional Financial Investors, Inc. and Professional Investors Security Fund, Inc. [Member] | |||||
Concentration Risk [Line Items] | |||||
Loss Contingency, Damages Sought, Value | $ 429.8 | ||||
Product Concentration Risk | Revenue Benchmark | Real Estate Loans As Part Of Loan Portfolio | |||||
Concentration Risk [Line Items] | |||||
Concentration risk (as a percent) | 75% | 75% | |||
Product Concentration Risk | Revenue Benchmark | Multifamily Loans as Part of Loan portfolio [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk (as a percent) | 20% | 19% | |||
Product Concentration Risk | Revenue Benchmark | Commercial Office Loans as Part of Loan portfolio [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk (as a percent) | 8% | 8% |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
Counterparty default losses on forward contracts | $ 0 | $ 0 | $ 0 | $ 0 | |
Credit Derivatives [Line Items] | |||||
Commitments | |||||
Collateral required to be posted under agreements | 89,100 | 89,100 | 88,300 | ||
Variation Margin Adjustment | 197,400 | 197,400 | 166,300 | ||
Interest rate futures | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | 159,000 | 159,000 | 150,000 | ||
Mortgage-Backed Security | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | 23,000 | 23,000 | 36,000 | ||
Interest rate swaps | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | 4,700,000 | ||||
Derivative Asset, Notional Amount | 4,500,000 | 4,500,000 | |||
Commitments To Originate Loans Held For Sale | |||||
Credit Derivatives [Line Items] | |||||
Commitments | 54,322 | 54,322 | 20,600 | ||
Interest rate forward sales commitments | |||||
Credit Derivatives [Line Items] | |||||
Commitments | $ 82,618 | $ 82,618 | $ 39,500 |
Derivatives (Summary Of Types O
Derivatives (Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 118,288 | $ 38,085 |
Derivative Liability | 312,542 | 261,091 |
Interest rate lock commitments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 452 | 137 |
Interest rate forward sales commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 178 | 9 |
Derivative Liability | 243 | 535 |
Interest rate swaps | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 117,880 | 33,874 |
Derivative Liability | 311,192 | 260,064 |
Interest rate contracts | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 117,880 | |
Derivative Liability | 311,192 | |
Interest rate contracts | Interest rate lock commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0 | 0 |
Derivative Liability | $ 452 | $ 137 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Future | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0 | $ 3,745 |
Derivative Liability | $ 500 | $ 0 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Interest rate forward sales commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 178 | $ 9 |
Derivative Liability | $ 243 | $ 535 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Interest rate swaps | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 117,880 | $ 33,874 |
Derivative Liability | $ 311,192 | $ 260,064 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Foreign currency derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 230 | $ 457 |
Derivative Liability | $ 155 | $ 355 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Derivatives (Summary Of Types_2
Derivatives (Summary Of Types Of Derivatives And Gains (Losses) Recorded) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ (991) | $ (5,860) | $ (3,824) | $ (7,621) | |
Asset Derivatives | 118,288 | 118,288 | $ 38,085 | ||
Derivative Liability | 312,542 | 312,542 | 261,091 | ||
Interest rate contracts | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Assets Gross Amounts Offsetting the Balance Sheets | 0 | 0 | |||
Asset Derivatives | 117,880 | 117,880 | |||
Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Security Not Offset | 5,226 | 5,226 | |||
Derivative Asset, Subject to Master Netting Arrangement, Collateral, Obligation to Return Cash Not Offset | 100,000 | 100,000 | |||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral | 12,654 | 12,654 | |||
Derivative Liability, Gross Amounts Offset in Balance Sheets | 0 | 0 | |||
Derivative Liability | 311,192 | 311,192 | |||
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Security Not Offset | 5,226 | 5,226 | |||
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Not Offset | 0 | 0 | |||
Derivative Liability, Subject to Master Netting Arrangement, before Offset of Collateral | 305,966 | 305,966 | |||
Interest rate contracts | Not Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative assets, gross amounts of recognized assets | 117,880 | 117,880 | |||
Derivative Liability, Subject to Master Netting Arrangement, before Offset | 311,192 | 311,192 | |||
Foreign currency derivatives | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ 196 | $ (109) | $ 238 | $ (79) | |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | |
Asset Derivatives | $ 230 | $ 230 | 457 | ||
Derivative Liability | 155 | 155 | 355 | ||
Interest rate lock commitments | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liability | 452 | 452 | 137 | ||
Interest rate lock commitments | Interest rate contracts | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ (467) | $ (188) | $ (314) | $ (83) | |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | |
Asset Derivatives | $ 0 | $ 0 | 0 | ||
Derivative Liability | 452 | 452 | 137 | ||
Future | Interest rate contracts | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ (1,611) | $ (7,636) | $ (5,882) | $ (4,986) | |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | |
Asset Derivatives | $ 0 | $ 0 | 3,745 | ||
Derivative Liability | 500 | 500 | 0 | ||
Interest rate forward sales commitments | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 178 | 178 | 9 | ||
Derivative Liability | 243 | 243 | 535 | ||
Interest rate forward sales commitments | Interest rate contracts | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ 467 | $ 785 | $ 513 | $ (218) | |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Residential mortgage banking revenue (loss), net | Residential mortgage banking revenue (loss), net | Residential mortgage banking revenue (loss), net | Residential mortgage banking revenue (loss), net | |
Asset Derivatives | $ 178 | $ 178 | 9 | ||
Derivative Liability | 243 | 243 | 535 | ||
Interest rate swaps | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 117,880 | 117,880 | 33,874 | ||
Derivative Liability | 311,192 | 311,192 | 260,064 | ||
Interest rate swaps | Interest rate contracts | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Gain (Losses) | $ 424 | $ 1,288 | $ 1,621 | $ (2,255) | |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | |
Asset Derivatives | $ 117,880 | $ 117,880 | 33,874 | ||
Derivative Liability | $ 311,192 | $ 311,192 | $ 260,064 |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Earnings Per Share [Abstract] | ||||||||
Net income | $ 120,144 | $ 124,080 | $ 93,531 | $ 135,845 | $ 133,377 | $ (14,038) | $ 244,224 | $ 119,339 |
Weighted average number of common shares outstanding - basic (in shares) | 208,498 | 207,977 | 208,379 | 182,325 | ||||
Effect of potentially dilutive common shares (in shares) | 513 | 568 | 620 | 535 | ||||
Weighted average number of shares outstanding, diluted (in shares) | 209,011 | 208,545 | 208,999 | 182,860 | ||||
Earnings per common share: | ||||||||
Basic (in dollars per share) | $ 0.58 | $ 0.64 | $ 1.17 | $ 0.65 | ||||
Diluted (in dollars per share) | $ 0.57 | $ 0.64 | $ 1.17 | $ 0.65 |
Earnings Per Common Share (Sche
Earnings Per Common Share (Schedule Of Weighted Average Outstanding Securities Not Included In The Computation Of Diluted Earnings Per Common Share) (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 571 | 1,001 | 588 | 756 |
Fair Value Measurement (Schedul
Fair Value Measurement (Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Financial assets: | ||||||
Equity and other investment securities | $ 77,221 | $ 76,995 | ||||
Investment securities available for sale | 8,503,000 | 8,829,870 | ||||
Investment securities held to maturity | 2,203 | 2,300 | ||||
Loans held for sale | 56,310 | 30,715 | ||||
Loans and leases, net | 37,291,316 | 37,001,080 | ||||
Restricted equity securities | 116,274 | 179,274 | ||||
Residential mortgage servicing rights | 110,039 | $ 110,444 | 109,243 | $ 172,929 | $ 178,800 | $ 185,017 |
Bank-owned life insurance | 686,485 | 680,948 | ||||
Derivatives | 118,288 | 38,085 | ||||
Financial liabilities: | ||||||
Securities sold under agreements to repurchase | 197,860 | 252,119 | ||||
Borrowings | 3,900,000 | 3,950,000 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Junior and other subordinated debentures, at amortized cost | 107,781 | 107,895 | ||||
Derivatives | 312,542 | 261,091 | ||||
Carrying Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 2,068,831 | 2,162,534 | ||||
Equity and other investment securities | 77,221 | 76,995 | ||||
Investment securities available for sale | 8,503,000 | 8,829,870 | ||||
Investment securities held to maturity | 2,203 | 2,300 | ||||
Loans held for sale | 56,310 | 30,715 | ||||
Loans and leases, net | 37,291,316 | 37,001,080 | ||||
Restricted equity securities | 116,274 | 179,274 | ||||
Residential mortgage servicing rights | 110,039 | 109,243 | ||||
Bank-owned life insurance | 686,485 | 680,948 | ||||
Derivatives | 118,288 | 38,085 | ||||
Financial liabilities: | ||||||
Demand, money market, and savings deposits | 35,113,311 | 35,379,451 | ||||
Time Deposits | 6,409,961 | 6,227,569 | ||||
Securities sold under agreements to repurchase | 197,860 | 252,119 | ||||
Borrowings | 3,900,000 | 3,950,000 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Junior and other subordinated debentures, at amortized cost | 107,781 | 107,895 | ||||
Derivatives | 312,542 | 261,091 | ||||
Fair Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 2,068,831 | 2,162,534 | ||||
Equity and other investment securities | 77,221 | 76,995 | ||||
Investment securities available for sale | 8,503,000 | 8,829,870 | ||||
Investment securities held to maturity | 2,885 | 3,025 | ||||
Loans held for sale | 56,310 | 30,715 | ||||
Loans and leases, net | 35,831,050 | 35,810,989 | ||||
Restricted equity securities | 116,274 | 179,274 | ||||
Residential mortgage servicing rights | 110,039 | 109,243 | ||||
Bank-owned life insurance | 686,485 | 680,948 | ||||
Derivatives | 118,288 | 38,085 | ||||
Financial liabilities: | ||||||
Demand, money market, and savings deposits | 35,113,311 | 35,379,451 | ||||
Time Deposits | 6,384,569 | 6,201,519 | ||||
Securities sold under agreements to repurchase | 197,860 | 252,119 | ||||
Borrowings | 3,892,965 | 3,950,037 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Junior and other subordinated debentures, at amortized cost | 97,551 | 97,695 | ||||
Derivatives | $ 312,542 | $ 261,091 |
Fair Value Measurement (Sched_2
Fair Value Measurement (Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | $ 77,221 | $ 76,995 | ||||
Investment securities available for sale | 8,503,000 | 8,829,870 | ||||
Loans held for sale | 56,310 | 30,715 | ||||
Loans Receivable, Fair Value Disclosure | 174,021 | 275,140 | ||||
Residential mortgage servicing rights, at fair value | 110,039 | $ 110,444 | 109,243 | $ 172,929 | $ 178,800 | $ 185,017 |
Derivative Asset | 118,288 | 38,085 | ||||
Total assets measured at fair value | 9,038,879 | 9,360,048 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Derivative Liability | 312,542 | 261,091 | ||||
Total liabilities measured at fair value | 622,729 | 577,531 | ||||
Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 230 | 457 | ||||
Derivative Liability | 155 | 355 | ||||
Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 62,154 | 63,298 | ||||
Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 15,067 | 13,697 | ||||
U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 1,467,222 | 1,478,392 | ||||
Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 1,034,523 | 1,072,105 | ||||
Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 6,001,255 | 6,279,373 | ||||
Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 452 | 137 | ||||
Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 3,745 | |||||
Derivative Liability | 500 | |||||
Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 178 | 9 | ||||
Derivative Liability | 243 | 535 | ||||
Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 117,880 | 33,874 | ||||
Derivative Liability | 311,192 | 260,064 | ||||
Level 1 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | ||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 433,429 | 432,200 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 0 | 0 | ||||
Level 1 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 1 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 43,695 | 44,839 | ||||
Level 1 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 15,067 | 13,697 | ||||
Level 1 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 374,667 | 373,664 | ||||
Level 1 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 0 | 0 | ||||
Level 1 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | |||||
Derivative Liability | 0 | |||||
Level 1 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 1 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 2 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 56,310 | 30,715 | ||||
Loans Receivable, Fair Value Disclosure | 174,021 | 275,140 | ||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 8,495,411 | 8,818,605 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 312,090 | 260,954 | ||||
Level 2 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 230 | 457 | ||||
Derivative Liability | 155 | 355 | ||||
Level 2 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 18,459 | 18,459 | ||||
Level 2 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 2 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 1,092,555 | 1,104,728 | ||||
Level 2 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 1,034,523 | 1,072,105 | ||||
Level 2 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 6,001,255 | 6,279,373 | ||||
Level 2 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 0 | 0 | ||||
Level 2 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 3,745 | |||||
Derivative Liability | 500 | |||||
Level 2 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 178 | 9 | ||||
Derivative Liability | 243 | 535 | ||||
Level 2 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 117,880 | 33,874 | ||||
Derivative Liability | 311,192 | 260,064 | ||||
Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | ||||
Residential mortgage servicing rights, at fair value | 110,039 | 109,243 | ||||
Total assets measured at fair value | 110,039 | 109,243 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Total liabilities measured at fair value | 310,639 | 316,577 | ||||
Level 3 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 3 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 452 | 137 | ||||
Level 3 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | |||||
Derivative Liability | 0 | |||||
Level 3 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 3 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | $ 0 | $ 0 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Fair Value Disclosures [Abstract] | |||||
Loans and leases, at fair value | $ 174,021 | $ 174,021 | $ 275,140 | ||
Unrealized (losses) gains arising during the period | (384) | $ (14,638) | 6,069 | $ 11,174 | |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | (284) | (10,832) | 4,491 | 8,269 | |
Residential Mortgage Banking Revenue | |||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Net increase (decrease) in fair value | 127 | (602) | 316 | (521) | |
Other Income | |||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Net increase (decrease) in fair value | $ (10,100) | $ (7,000) | $ (12,500) | $ 2,500 |
Fair Value Measurement (Sched_3
Fair Value Measurement (Schedule Of A Description Of The Valuation Technique, Unobservable Input, And Qualitative Information For The Company's Assets And Liabilities Classified As Level 3) (Details) $ in Thousands | Jun. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | $ 110,039 | $ 110,444 | $ 109,243 | $ 172,929 | $ 178,800 | $ 185,017 |
Derivative Liability | 312,542 | 261,091 | ||||
Junior subordinated debentures, at fair value | 310,187 | 316,440 | ||||
Residential mortgage servicing rights | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 110,039 | |||||
Interest rate lock commitments, net | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability | 452 | |||||
Junior subordinated debentures | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Junior subordinated debentures, at fair value | 310,187 | |||||
Level 3 | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 110,039 | 109,243 | ||||
Junior subordinated debentures, at fair value | $ 310,187 | $ 316,440 | ||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0676 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1023 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0603 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0950 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.2736 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1610 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Weighted Average | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0383 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Minimum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0205 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Maximum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0620 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Weighted Average | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 0.8818 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Minimum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 0.6973 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Maximum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 1 |
Fair Value Measurement (Sched_4
Fair Value Measurement (Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Junior subordinated debentures, at fair value | ||||
Unrealized (losses) gains arising during the period | $ (384) | $ (14,638) | $ 6,069 | $ 11,174 |
Level 3 | Junior subordinated debentures, at fair value | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | (7,548) | (7,049) | (15,131) | (13,728) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | (384) | (14,638) | 6,069 | 11,174 |
Junior subordinated debentures, at fair value | ||||
Beginning Balance | (309,544) | (297,721) | (316,440) | (323,639) |
Change included in earnings | (7,548) | (7,049) | (15,131) | (13,728) |
Change in fair values included in comprehensive income/loss | (384) | (14,638) | 6,069 | 11,174 |
Purchases and issuances | 0 | 0 | 0 | 0 |
Sales and settlements | 7,289 | 6,536 | 15,315 | 13,321 |
Ending Balance | (310,187) | (312,872) | (310,187) | (312,872) |
Level 3 | Interest rate lock commitments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | (452) | (51) | (452) | (51) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Interest rate lock commitments, net | ||||
Beginning Balance | 16 | 137 | (137) | 32 |
Change included in earnings | (70) | (134) | (86) | (166) |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | (1,238) | (316) | (1,191) | 22 |
Sales and settlements | 840 | 262 | 962 | 61 |
Ending Balance | (452) | (51) | (452) | (51) |
Level 3 | Residential mortgage servicing rights | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | 1,238 | (2,242) | 4,355 | (5,179) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Residential mortgage servicing rights | ||||
Beginning balance | 110,444 | 178,800 | 109,243 | 185,017 |
Change included in earnings | (1,945) | (7,039) | (1,981) | (14,857) |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | 1,540 | 1,168 | 2,777 | 2,769 |
Sales and settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 110,039 | $ 172,929 | $ 110,039 | $ 172,929 |
Fair Value Measurement (Fair Va
Fair Value Measurement (Fair Value Assets And Liabilities Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 9,038,879 | $ 9,360,048 |
Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 433,429 | 432,200 |
Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 8,495,411 | 8,818,605 |
Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 110,039 | 109,243 |
Fair Value, Nonrecurring | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 14,828 | 5,036 |
Fair Value, Nonrecurring | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 14,828 | 5,036 |
Fair Value, Nonrecurring | Loans and leases | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 14,828 | 5,036 |
Fair Value, Nonrecurring | Loans and leases | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 14,828 | $ 5,036 |
Fair Value Measurement (Losses
Fair Value Measurement (Losses Resulting From Nonrecurring Fair Value Adjustments) (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 30,704 | $ 29,547 | $ 58,878 | $ 48,281 |
Loans and leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 30,704 | $ 29,547 | $ 58,878 | $ 48,281 |
Fair Value Measurement (Fair _2
Fair Value Measurement (Fair Value Option) (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value Disclosures [Abstract] | ||
Fair Value | $ 56,310 | $ 30,715 |
Aggregate Unpaid Principal Balance | 54,908 | 29,629 |
Fair Value Less Aggregate Unpaid Principal Balance | 1,402 | 1,086 |
Loans and leases, at fair value | 174,021 | 275,140 |
Fair Value, Loans Held as Assets, Aggregate Unpaid Balance, Loans and Long-term Receivables | 208,147 | 320,397 |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $ (34,126) | $ (45,257) |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Income Tax Contingency [Line Items] | |||||
Deferred Tax Assets, Net | $ 361,800 | $ 361,800 | |||
Income Tax Expense (Benefit) | 40,944 | $ 45,703 | $ 85,931 | $ 40,817 | |
Effective Tax Rate as a Percentage of pre-tax Income (loss) | 26% | 25.50% | |||
Amortization Method Qualified Affordable Housing Project Investments | 210,400 | $ 210,400 | $ 210,900 | ||
Qualified Affordable Housing Project Investments, Commitment | 102,900 | 102,900 | $ 114,100 | ||
State and Local Jurisdiction | |||||
Income Tax Contingency [Line Items] | |||||
Operating Loss Carryforwards | $ 1,900 | $ 1,900 |