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Accumulated Other Comprehensive Income or Loss and Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023	$	(351,995)	$	32,809	$	(48,250)	$	(367,436)
Other comprehensive (loss) income during the period, net of tax, before reclassifications	(33,909)		(88,405)		5,344		(116,970)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(1)		10,337		—		10,336
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	(20)		—		—		(20)
Net other comprehensive (loss) income during the period, net of tax	$	(33,930)	$	(78,068)	$	5,344	$	(106,654)
Balance at June 30, 2023	$	(385,925)	$	(45,259)	$	(42,906)	$	(474,090)

Balance at January 1, 2023	$	(386,057)	$	7,381	$	(48,960)	$	(427,636)
Other comprehensive income (loss) during the period, net of tax, before reclassifications	594		(65,597)		6,054		(58,949)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(410)		12,957		—		12,547
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	(52)		—		—		(52)
Net other comprehensive income (loss) during the period, net of tax	$	132	$	(52,640)	$	6,054	$	(46,454)
Balance at June 30, 2023	$	(385,925)	$	(45,259)	$	(42,906)	$	(474,090)



Balance at April 1, 2022	$	(142,604)	$	56,060	$	(29,455)	$	(115,999)
Other comprehensive (loss) income during the period, net of tax, before reclassifications	(122,154)		999		(6,593)		(127,748)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	—		742		—		742
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) income during the period, net of tax	$	(122,186)	$	1,741	$	(6,593)	$	(127,038)
Balance at June 30, 2022	$	(264,790)	$	57,801	$	(36,048)	$	(243,037)

Balance at January 1, 2022	$	8,724	$	27,111	$	(31,743)	$	4,092
Other comprehensive (loss) income during the period, net of tax, before reclassifications	(273,268)		26,022		(4,305)		(251,551)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(183)		4,668		—		4,485
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	(63)		—		—		(63)
Net other comprehensive (loss) income during the period, net of tax	$	(273,514)	$	30,690	$	(4,305)	$	(247,129)
Balance at June 30, 2022	$	(264,790)	$	57,801	$	(36,048)	$	(243,037)

Other Comprehensive Income Reclassified from AOCI


(In thousands)	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) for the
Details Regarding the Component of Accumulated Other Comprehensive Income (Loss)	Three Months Ended				Six Months Ended				Impacted Line on the Consolidated Statements of Income
	June 30,				June 30,
	2023		2022		2023		2022
Accumulated unrealized gains on securities
Gains included in net income	$	2	$	—	$	562	$	250	Gains (losses) on investment securities, net
	2		—		562		250		Income before taxes
Tax effect	(1)		—		(152)		(67)		Income tax expense
Net of tax	$	1	$	—	$	410	$	183	Net income

Accumulated unrealized gains on derivative instruments
Amount reclassified to interest income on loans	$	18,661	$	—	$	27,733	$	—	Interest on Loans
Amount reclassified to interest expense on deposits	$	(4,657)	$	657	$	(10,245)	$	5,476	Interest on deposits
Amount reclassified to interest expense on other borrowings	88		355		176		889		Interest on other borrowings

	(14,092)		(1,012)		(17,664)		(6,365)		Income before taxes
Tax effect	3,755		270		4,707		1,697		Income tax expense
Net of tax	$	(10,337)	$	(742)	$	(12,957)	$	(4,668)	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				Six Months Ended
(In thousands, except per share data)		June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Net income		$	154,750	$	94,513	$	334,948	$	221,904
Less: Preferred stock dividends		6,991		6,991		13,982		13,982
Net income applicable to common shares	(A)	$	147,759	$	87,522	$	320,966	$	207,922

Weighted average common shares outstanding	(B)	61,192		58,063		61,072		57,632
Effect of dilutive potential common shares
Common stock equivalents		902		775		933		823
Weighted average common shares and effect of dilutive potential common shares	(C)	62,094		58,838		62,005		58,455
Net income per common share:
Basic	(A/B)	$	2.41	$	1.51	$	5.26	$	3.61
Diluted	(A/C)	$	2.38	$	1.49	$	5.18	$	3.56