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

9 Months Ended

Sep. 30, 2024

Schedule of 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, 2024	$	(424,172)	$	(36,304)	$	(51,722)	$	(512,198)
Other comprehensive income during the period, net of tax, before reclassifications	124,478		77,308		3,204		204,990
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(39)		15,080		—		15,041
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	(10)		—		—		(10)
Net other comprehensive income (loss) during the period, net of tax	$	124,429	$	92,388	$	3,204	$	220,021
Balance at September 30, 2024	$	(299,743)	$	56,084	$	(48,518)	$	(292,177)

Balance at January 1, 2024	$	(350,697)	$	32,049	$	(42,583)	$	(361,231)
Other comprehensive income or loss during the period, net of tax, before reclassifications	51,916		(20,715)		(5,935)		25,266
Amount reclassified from accumulated other comprehensive income or loss into net income, net of tax	(905)		44,750		—		43,845
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	(57)		—		—		(57)
Net other comprehensive loss during the period, net of tax	$	50,954	$	24,035	$	(5,935)	$	69,054
Balance at September 30, 2024	$	(299,743)	$	56,084	$	(48,518)	$	(292,177)



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)

Schedule of 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				Nine Months Ended				Impacted Line on the Consolidated Statements of Income
	September 30,				September 30,
	2024		2023		2024		2023
Accumulated unrealized gains on securities
Gains included in net income	$	45	$	158	$	1,223	$	720	Gains (losses) on investment securities, net
	45		158		1,223		720		Income before taxes
Tax effect	(6)		(40)		(318)		(192)		Income tax expense
Net of tax	$	39	$	118	$	905	$	528	Net income

Accumulated unrealized gains on derivative instruments
Amount reclassified to interest income on loans	$	23,704	$	22,768	$	72,027	$	50,501	Interest on Loans
Amount reclassified to interest expense on deposits	$	(3,325)	$	(4,657)	$	(11,307)	$	(14,902)	Interest on deposits
Amount reclassified to interest expense on other borrowings	—		263		—		789		Interest on other borrowings

	(20,379)		(18,374)		(60,720)		(36,388)		Income before taxes
Tax effect	5,299		4,896		15,970		9,697		Income tax expense
Net of tax	$	(15,080)	$	(13,478)	$	(44,750)	$	(26,691)	Net income

Schedule of 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
(Dollars in thousands, except per share data)		September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Net income		$	170,001	$	164,198	$	509,683	$	499,146
Less: Preferred stock dividends		6,991		6,991		20,973		20,973
Net income applicable to common shares	(A)	$	163,010	$	157,207	$	488,710	$	478,173

Weighted average common shares outstanding	(B)	64,888		61,213		62,743		61,119
Effect of dilutive potential common shares
Common stock equivalents		1,053		964		934		888
Weighted average common shares and effect of dilutive potential common shares	(C)	65,941		62,177		63,677		62,007
Net income per common share:
Basic	(A/B)	$	2.51	$	2.57	$	7.79	$	7.82
Diluted	(A/C)	$	2.47	$	2.53	$	7.67	$	7.71