Shareholders' Equity and Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

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 July 1, 2022	$	(264,790)	$	57,801	$	(36,048)	$	(243,037)
Other comprehensive loss during the period, net of tax, before reclassifications	(141,758)		(52,072)		(17,822)		(211,652)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(9)		(3,998)		—		(4,007)
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	(32)		—		—		(32)
Net other comprehensive loss during the period, net of tax	$	(141,799)	$	(56,070)	$	(17,822)	$	(215,691)
Balance at September 30, 2022	$	(406,589)	$	1,731	$	(53,870)	$	(458,728)

Balance at January 1, 2022	$	8,724	$	27,111	$	(31,743)	$	4,092
Other comprehensive loss during the period, net of tax, before reclassifications	(415,026)		(26,050)		(22,127)		(463,203)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(192)		670		—		478
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	(95)		—		—		(95)
Net other comprehensive loss during the period, net of tax	$	(415,313)	$	(25,380)	$	(22,127)	$	(462,820)
Balance at September 30, 2022	$	(406,589)	$	1,731	$	(53,870)	$	(458,728)


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 or loss into net income, net of tax	(256)		4,973		—		4,717
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	(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 or loss into net income, net of tax	(837)		14,921		—		14,084
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	(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

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 or Loss	Three Months Ended				Nine Months Ended					Impacted Line on the Consolidated Statements of Income
	September 30,				September 30,
	2022		2021			2022		2021
Accumulated unrealized (losses) gains on securities
Gains included in net income	$	12	$	350		$	262	$	1,144		(Losses) gains on investment securities, net
	12		350			262		1,144			Income before taxes
Tax effect	(3)		(94)			(70)		(307)			Income tax expense
Net of tax	$	9	$	256		$	192	$	837		Net income

Accumulated unrealized gains on derivative instruments
Amount reclassified to interest expense on deposits	$	(5,563)	$	4,947		$	(87)	$	14,898		Interest on deposits
Amount reclassified to interest expense on other borrowings	112		636			1,001		1,958			Interest on other borrowings
Amount reclassified to interest expense on junior subordinated debentures	—		1,197			—		3,486			Interest on junior subordinated debentures
	5,451		(6,780)			(914)		(20,342)			Income before taxes
Tax effect	(1,453)		1,807			244		5,421			Income tax expense
Net of tax	$	3,998	$	(4,973)		$	(670)	$	(14,921)		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 Ended				Nine Months Ended
(In thousands, except per share data)		September 30, 2022		September 30, 2021			September 30, 2022		September 30, 2021
Net income		$	142,961	$	109,137		$	364,865	$	367,394
Less: Preferred stock dividends		6,991		6,991			20,973		20,973
Net income applicable to common shares	(A)	$	135,970	$	102,146		$	343,892	$	346,421

Weighted average common shares outstanding	(B)	60,738		57,000			58,679		56,985
Effect of dilutive potential common shares
Common stock equivalents		837		753			814		728
Weighted average common shares and effect of dilutive potential common shares	(C)	61,575		57,753			59,493		57,713
Net income per common share:
Basic	(A/B)	$	2.24	$	1.79		$	5.86	$	6.08
Diluted	(A/C)	$	2.21	$	1.77		$	5.78	$	6.00