v3.25.2
Accumulated Other Comprehensive Income or Loss and Earnings Per Share
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income or Loss and Earnings Per Share Accumulated Other Comprehensive Income or Loss and Earnings Per Share
Accumulated Other Comprehensive Income or Loss

The following tables summarize the components of other comprehensive income or loss, including the related income tax effects, and the related amount reclassified to net income for the periods presented:
(In thousands)Accumulated
Unrealized (Losses) Gains
on Securities		Accumulated
Unrealized Gains (Losses) on
Derivative
Instruments		Accumulated
Foreign
Currency
Translation
Adjustments		Total
Accumulated
Other
Comprehensive (Loss) Income
Balance at April 1, 2025$(373,994)$31,747 $(67,768)$(410,015)
Other comprehensive income during the period, net of tax, before reclassifications3,970 18,555 17,583 40,108 
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax64 3,618 — 3,682 
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(8)— — (8)
Net other comprehensive income during the period, net of tax$4,026 $22,173 $17,583 $43,782 
Balance at June 30, 2025$(369,968)$53,920 $(50,185)$(366,233)
Balance at January 1, 2025$(429,580)$(11,227)$(67,528)$(508,335)
Other comprehensive income during the period, net of tax, before reclassifications59,341 57,277 17,343 133,961 
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax287 7,870 — 8,157 
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(16)— — (16)
Net other comprehensive income during the period, net of tax$59,612 $65,147 $17,343 $142,102 
Balance at June 30, 2025$(369,968)$53,920 $(50,185)$(366,233)
Balance at April 1, 2024$(408,002)$(28,329)$(48,817)$(485,148)
Other comprehensive loss during the period, net of tax, before reclassifications(15,275)(23,070)(2,905)(41,250)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(885)15,095 — 14,210 
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(10)— — (10)
Net other comprehensive loss during the period, net of tax$(16,170)$(7,975)$(2,905)$(27,050)
Balance at June 30, 2024$(424,172)$(36,304)$(51,722)$(512,198)
Balance at January 1, 2024$(350,697)$32,049 $(42,583)$(361,231)
Other comprehensive loss during the period, net of tax, before reclassifications(72,562)(98,024)(9,139)(179,725)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(866)29,671 — 28,805 
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(47)— — (47)
Net other comprehensive loss during the period, net of tax$(73,475)$(68,353)$(9,139)$(150,967)
Balance at June 30, 2024$(424,172)$(36,304)$(51,722)$(512,198)
(In thousands)Amount Reclassified from Accumulated Other Comprehensive Income or Loss for the
Details Regarding the Component of Accumulated Other Comprehensive Income or LossThree Months EndedSix Months EndedImpacted Line on the
Consolidated Statements of Income
June 30,June 30,
2025202420252024
Accumulated unrealized (losses) gains on securities
Gains included in net income$(87)$1,204 $(388)$1,178 Gains (losses) on investment securities, net
(87)1,204 (388)1,178 Income before taxes
Tax effect23 (319)101 (312)Income tax expense
Net of tax$(64)$885 $(287)$866 Net income
Accumulated unrealized gains on derivative instruments
Amount reclassified to interest income on loans$8,215 $23,849 $17,286 $48,324 Interest on Loans
Amount reclassified to interest expense on deposits(3,325)(3,325)(6,650)(7,982)Interest on deposits
(4,890)(20,524)(10,636)(40,342)Income before taxes
Tax effect1,272 5,429 2,766 10,671 Income tax expense
Net of tax$(3,618)$(15,095)$(7,870)$(29,671)Net income

Earnings per Share

The following table shows the computation of basic and diluted earnings per share for the periods indicated:
Three Months EndedSix Months Ended
(Dollars in thousands, except per share data)June 30,
2025		June 30,
2024		June 30,
2025		June 30,
2024
Net income$195,527 $152,388 $384,566 $339,682 
Less: Preferred stock dividends6,991 6,991 13,982 13,982 
Net income applicable to common shares(A)$188,536 $145,397 $370,584 $325,700 
Weighted average common shares outstanding(B)66,931 61,839 66,829 61,660 
Effect of dilutive potential common shares
Common stock equivalents888 926 903 901 
Weighted average common shares and effect of dilutive potential common shares(C)67,819 62,765 67,732 62,561 
Net income per common share:
Basic(A/B)$2.82 $2.35 $5.55 $5.28 
Diluted(A/C)$2.78 $2.32 $5.47 $5.21 

Potentially dilutive common shares can result from stock options, restricted stock unit awards and shares to be issued under the Employee Stock Purchase Plan and the Directors Deferred Fee and Stock Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect of inclusion would either reduce the loss per share or increase the income per share.

At the January 2025 meeting of the Board of Directors of the Company (the “Board of Directors”), a quarterly cash dividend of $0.50 per share ($2.00 on an annualized basis) was declared. It was paid on February 20, 2025 to shareholders of record as of February 6, 2025. At the April 2025 meeting of the Board of Directors, a quarterly cash dividend of $0.50 per share ($2.00 on an annualized basis) was declared. It was paid on May 22, 2025 to shareholders of record as of May 8, 2025.