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Shareholders' Equity and Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]  
Components Of Other Comprehensive Income (Loss)
The following tables summarize the components of other comprehensive income (loss), including the related income tax effects, and the related amount reclassified to net income for the periods presented (in thousands).
Accumulated
Unrealized
Gains (Losses)
on Securities
Accumulated
Unrealized Gains (Losses) on
Derivative
Instruments
Accumulated
Foreign
Currency
Translation
Adjustments
Total
Accumulated
Other
Comprehensive
Income (Loss)
Balance at July 1, 2021$30,189 $7,720 $(27,776)$10,133 
Other comprehensive (loss) income during the period, net of tax, before reclassifications(10,374)1,631 (4,650)(13,393)
Amount reclassified from accumulated other comprehensive income (loss) into net income, net of tax(256)4,973  4,717 
Amount reclassified from accumulated other comprehensive income (loss) related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(40)  (40)
Net other comprehensive (loss) income during the period, net of tax$(10,670)$6,604 $(4,650)$(8,716)
Balance at September 30, 2021$19,519 $14,324 $(32,426)$1,417 
Balance at January 1, 2021$70,737 $(23,090)$(32,265)$15,382 
Other comprehensive (loss) income during the period, net of tax, before reclassifications(50,265)22,493 (161)(27,933)
Amount reclassified from accumulated other comprehensive income (loss) into net income, net of tax(837)14,921  14,084 
Amount reclassified from accumulated other comprehensive income (loss) related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(116)  (116)
Net other comprehensive (loss) income during the period, net of tax$(51,218)$37,414 $(161)$(13,965)
Balance at September 30, 2021$19,519 $14,324 $(32,426)$1,417 
Balance at July 1, 2020 $85,506 $(43,606)$(42,497)$(597)
Other comprehensive (loss) income during the period, net of tax, before reclassifications(10,682)3,466 2,891 (4,325)
Amount reclassified from accumulated other comprehensive income (loss) into net income, net of tax(36)4,157 — 4,121 
Amount reclassified from accumulated other comprehensive income (loss) related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(40)— — (40)
Net other comprehensive (loss) income during the period, net of tax$(10,758)$7,623 $2,891 $(244)
Balance at September 30, 2020$74,748 $(35,983)$(39,606)$(841)
Balance at January 1, 2020$14,982 $(13,141)$(36,519)$(34,678)
Other comprehensive income (loss) during the period, net of tax, before reclassifications60,043 (31,796)(3,087)25,160 
Amount reclassified from accumulated other comprehensive income (loss) into net income, net of tax(146)8,954 — 8,808 
Amount reclassified from accumulated other comprehensive income (loss) related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(131)— — (131)
Net other comprehensive income (loss) during the period, net of tax$59,766 $(22,842)$(3,087)$33,837 
Balance at September 30, 2020$74,748 $(35,983)$(39,606)$(841)
Other Comprehensive Income Reclassified from AOCI
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) for the
Details Regarding the Component of Accumulated Other Comprehensive Income (Loss)Three Months EndedNine Months EndedImpacted Line on the
Consolidated Statements of Income
September 30,September 30,
2021202020212020
Accumulated unrealized gains on securities
Gains included in net income$350 $50 $1,144 $200 Gains (losses) on investment securities, net
350 50 1,144 200 Income before taxes
Tax effect(94)(14)(307)(54)Income tax expense
Net of tax$256 $36 $837 $146 Net income
Accumulated unrealized gains on derivative instruments
Amount reclassified to interest expense on deposits$4,947 $3,884 $14,898 $8,806 Interest on deposits
Amount reclassified to interest expense on other borrowings636 740 1,958 1,458 Interest on other borrowings
Amount reclassified to interest expense on junior subordinated debentures1,197 1043 3,486 1944 Interest on junior subordinated debentures
(6,780)(5,667)(20,342)(12,208)Income before taxes
Tax effect1,807 1,510 5,421 3,254 Income tax expense
Net of tax$(4,973)$(4,157)$(14,921)$(8,954)Net income
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 EndedNine Months Ended
(In thousands, except per share data)September 30,
2021
September 30,
2020
September 30,
2021
September 30,
2020
Net income$109,137 $107,315 $367,394 $191,786 
Less: Preferred stock dividends6,991 10,286 20,973 14,386 
Net income applicable to common shares(A)$102,146 $97,029 $346,421 $177,400 
Weighted average common shares outstanding(B)57,000 57,597 56,985 57,595 
Effect of dilutive potential common shares
Common stock equivalents753 449 728 469 
Weighted average common shares and effect of dilutive potential common shares(C)57,753 58,046 57,713 58,064 
Net income per common share:
Basic(A/B)$1.79 $1.68 $6.08 $3.08 
Diluted(A/C)$1.77 $1.67 $6.00 $3.06