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Shareholders' Equity
 12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
A summary of the Company’s common and preferred stock at December 31, 2022 and 2021 is as follows:
20222021
Common Stock:
Shares authorized100,000,000 100,000,000 
Shares issued60,797,270 58,891,780 
Shares outstanding60,794,008 57,054,091 
Cash dividend per share$1.36 $1.24 
Preferred Stock:
Shares authorized20,000,000 20,000,000 
Shares issued5,011,500 5,011,500 
Shares outstanding5,011,500 5,011,500 

The Company reserves shares of its authorized common stock specifically for the 2022 Plan, the ESPP and the DDFS. The reserved shares and these plans are detailed in Note (18) “Stock Compensation Plans and Other Employee Benefit Plans”.

Common Stock Offering

In June 2022, the Company sold a total of 3,450,000 shares of its common stock through a public offering. Net proceeds to the Company totaled approximately $285.7 million, net of estimated issuance costs.

Series D Preferred Stock

In June 2015, the Company issued and sold 5,000,000 shares of fixed-to-floating non-cumulative perpetual preferred stock, Series D, liquidation preference $25 per share (the “Series D Preferred Stock”) for $125.0 million in a public offering. When, as and if declared, dividends on the Series D Preferred Stock are payable quarterly in arrears at a fixed rate of 6.50% per annum from the original issuance date to, but excluding, July 15, 2025, and from (and including) that date (as currently specified in the certificate of designations and subject to the below) at a floating rate equal to three-month LIBOR plus a spread of 4.06% per annum. Under the Adjustable Interest Rate (LIBOR) Act (“AIRLA”) and Part 253 of Regulation ZZ (Rule 253), the dividend rate on the Series D Preferred Stock will, by operation of law, change from 3-month USD LIBOR to 3-month CME Term SOFR plus a statutory tenor spread adjustment of 0.26161%. Consequently, for each floating rate period, commencing on July 15, 2025, any dividends will be paid at a rate of the then-current 3-month CME Term SOFR plus 0.26161%, plus the spread of 4.06% per annum. The calculation agent for the Series D Preferred Stock may also make additional administrative conforming changes to the terms of the Series D Preferred Stock under AIRLA and Rule 253.
Series E Preferred Stock

In May 2020, the Company issued 11,500 shares of fixed-rate reset non-cumulative perpetual preferred stock, Series E, liquidation preference $25,000 per share (the “Series E Preferred Stock”) as part of a $287.5 million public offering of 11,500,000 depositary shares, each representing a 1/1,000th interest in a share of Series E Preferred Stock. When, as and if declared, dividends on the Series E Preferred Stock are payable quarterly in arrears at a fixed rate of 6.875% per annum from October 15, 2020 to, but excluding, July 15, 2025, and from (and including) July 15, 2025 at a floating rate equal to the Five-Year Treasury Rate (as defined in the certificate of designations for the Series E Preferred Stock) plus 6.507%.

Other

At the January 2023 Board of Directors meeting, a quarterly cash dividend of $0.40 per share of common stock ($1.60 on an annualized basis) was declared. It was paid on February 23, 2023 to shareholders of record as of February 9, 2023.
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 years ended December 31, 2022, 2021 and 2020:
(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 January 1, 2022$8,724 $27,111 $(31,743)$4,092 
Other comprehensive loss during the period, net of tax, before reclassifications(394,332)(17,295)(17,217)(428,844)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(321)(2,435)— (2,756)
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(128)— — (128)
Net other comprehensive loss during the period, net of tax$(394,781)$(19,730)$(17,217)$(431,728)
Balance at December 31, 2022$(386,057)$7,381 $(48,960)$(427,636)
Balance at January 1, 2021$70,737 $(23,090)$(32,265)$15,382 
Other comprehensive (loss) income during the period, net of tax, before reclassifications(61,047)30,482 522 (30,043)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(789)19,719 — 18,930 
Amount reclassified from accumulated other comprehensive income or loss related to amortization of unrealized gains on investment securities transferred to held-to-maturity from available-for-sale, net of tax(177)— — (177)
Net other comprehensive (loss) income during the period, net of tax$(62,013)$50,201 $522 $(11,290)
Balance at December 31, 2021$8,724 $27,111 $(31,743)$4,092 
Balance at January 1, 2020$14,982 $(13,141)$(36,519)$(34,678)
Other comprehensive income (loss) during the period, net of tax, before reclassifications56,086 (23,497)4,254 36,843 
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(162)13,548 — 13,386 
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(169)— — (169)
Net other comprehensive income (loss) during the period, net of tax$55,755 $(9,949)$4,254 $50,060 
Balance at December 31, 2020$70,737 $(23,090)$(32,265)$15,382 
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) for the Years Ended,
Details Regarding the Component of Accumulated Other Comprehensive Income (Loss)December 31,Impacted Line on the Consolidated Statements of Income
20222021
(In thousands)
Accumulated unrealized gains on available-for-sale securities
Gains included in net income$439 $1,079 Gains (losses) on investment securities, net
439 1,079 Income before taxes
Tax effect(118)(290)Income tax expense
Net of tax$321 $789 Net income
Accumulated unrealized gains (losses) on derivative instruments
Amount reclassified to interest income on loans$1,443 $— Interest on loans
Amount reclassified to interest expense on deposits(5,675)19,640 Interest on deposits
Amount reclassified to interest expense on other borrowings913 2,560 Interest on other borrowings
Amount reclassified to interest expense on junior subordinated debentures— 4,683 Interest on junior subordinated debentures
3,319 (26,883)Income before taxes
Tax effect(884)7,164 Income tax expense
Net of tax$2,435 $(19,719)Net income