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Accumulated Other Comprehensive Income or Loss and Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income or Loss and Earnings Per Share Accumulated Other Comprehensive Income or Loss and Earnings Per Share
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 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, 2023$(385,925)$(45,259)$(42,906)$(474,090)
Other comprehensive loss during the period, net of tax, before reclassifications(130,622)(45,078)(6,270)(181,970)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(118)13,478 — 13,360 
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(23)— — (23)
Net other comprehensive loss during the period, net of tax$(130,763)$(31,600)$(6,270)$(168,633)
Balance at September 30, 2023$(516,688)$(76,859)$(49,176)$(642,723)
Balance at January 1, 2023$(386,057)$7,381 $(48,960)$(427,636)
Other comprehensive loss during the period, net of tax, before reclassifications(130,028)(110,931)(216)(241,175)
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax(528)26,691 — 26,163 
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(75)— — (75)
Net other comprehensive loss during the period, net of tax$(130,631)$(84,240)$(216)$(215,087)
Balance at September 30, 2023$(516,688)$(76,859)$(49,176)$(642,723)
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)
(In thousands)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,
2023202220232022
Accumulated unrealized gains on securities
Gains included in net income$158 $12 $720 $262 Losses on investment securities, net
158 12 720 262 Income before taxes
Tax effect(40)(3)(192)(70)Income tax expense
Net of tax$118 $9 $528 $192 Net income
Accumulated unrealized gains on derivative instruments
Amount reclassified to interest income on loans$22,768 $— $50,501 $— Interest on Loans
Amount reclassified to interest expense on deposits$(4,657)$(5,563)$(14,902)$(87)Interest on deposits
Amount reclassified to interest expense on other borrowings263 112 789 1,001 Interest on other borrowings
(18,374)5,451 (36,388)(914)Income before taxes
Tax effect4,896 (1,453)9,697 244 Income tax expense
Net of tax$(13,478)$3,998 $(26,691)$(670)Net income

Earnings per Share

The following table shows the computation of basic and diluted earnings per share for the periods indicated:
Three Months EndedNine Months Ended
(Dollars in thousands, except per share data)September 30,
2023		September 30,
2022		September 30,
2023		September 30,
2022
Net income$164,198 $142,961 $499,146 $364,865 
Less: Preferred stock dividends6,991 6,991 20,973 20,973 
Net income applicable to common shares(A)$157,207 $135,970 $478,173 $343,892 
Weighted average common shares outstanding(B)61,213 60,738 61,119 58,679 
Effect of dilutive potential common shares
Common stock equivalents964 837 888 814 
Weighted average common shares and effect of dilutive potential common shares(C)62,177 61,575 62,007 59,493 
Net income per common share:
Basic(A/B)$2.57 $2.24 $7.82 $5.86 
Diluted(A/C)$2.53 $2.21 $7.71 $5.78 

Potentially dilutive common shares can result from stock options, restricted stock unit awards and shares to be issued under the Employee Stock Purchase Plan and the Directors Deferred Fee and Stock Plan, being treated as if they had been either exercised or issued, computed by application of the treasury stock method. While potentially dilutive common shares are typically included in the computation of diluted earnings per share, potentially dilutive common shares are excluded from this computation in periods in which the effect of inclusion would either reduce the loss per share or increase the income per share.
At the January 2023 meeting of the board of directors of the Company (the “Board of Directors”), a quarterly cash dividend of $0.40 per share ($1.60 on an annualized basis) was declared. It was paid on February 23, 2023 to shareholders of record as of February 9, 2023. At the April 2023 meeting of the Board of Directors, a quarterly cash dividend of $0.40 per share ($1.60 on an annualized basis) was declared. It was paid on May 25, 2023 to shareholders of record as of May 11, 2023. At the July 2023 meeting of the Board of Directors, a quarterly cash dividend of $0.40 per share ($1.60 on an annualized basis) was declared. It was paid on August 24, 2023 to shareholders of record as of August 10, 2023.