v3.25.2
Accumulated Other Comprehensive Income or Loss and Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Components of 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
Schedule of Computation of Basic and Diluted Earnings Per Common 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