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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Preferred stock
Common stock
Surplus
Treasury stock
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
Accumulated other comprehensive loss
Beginning balance at Dec. 31, 2022 $ 4,796,838 $ (544) $ 412,500 $ 60,797 $ 1,902,474 $ (304) $ 2,849,007 $ (544) $ (427,636)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 499,146           499,146    
Other comprehensive income (loss), net of tax (215,087)               (215,087)
Cash dividends declared on common stock (73,304)           (73,304)    
Dividends on Series D and E preferred stock (20,973)           (20,973)    
Stock-based compensation 24,532       24,532        
Common stock issued for:                  
Exercise of stock options 2,216     54 2,162        
Restricted stock awards (1,662)     296 (296) (1,662)      
Employee stock purchase plan 2,418     34 2,384        
Director compensation plan 2,033     63 1,970        
Ending balance at Sep. 30, 2023 5,015,613   412,500 61,244 1,933,226 (1,966) 3,253,332   (642,723)
Beginning balance at Jun. 30, 2023 5,041,912   412,500 61,219 1,923,623 (1,966) 3,120,626   (474,090)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 164,198           164,198    
Other comprehensive income (loss), net of tax (168,633)               (168,633)
Cash dividends declared on common stock (24,501)           (24,501)    
Dividends on Series D and E preferred stock (6,991)           (6,991)    
Stock-based compensation 8,130       8,130        
Common stock issued for:                  
Restricted stock awards 0     13 (13)        
Employee stock purchase plan 816     12 804        
Director compensation plan 682       682        
Ending balance at Sep. 30, 2023 5,015,613   412,500 61,244 1,933,226 (1,966) 3,253,332   (642,723)
Beginning balance at Dec. 31, 2023 5,399,526   412,500 61,269 1,943,806 (2,217) 3,345,399   (361,231)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 509,683           509,683    
Other comprehensive income (loss), net of tax 69,054               69,054
Cash dividends declared on common stock (85,394)           (85,394)    
Dividends on Series D and E preferred stock (20,973)           (20,973)    
Stock-based compensation 27,568       27,568        
Common stock issued for:                  
Acquisition of Macatawa Bank Corporation 499,239     4,702 494,537        
Exercise of stock options 25     1 24        
Restricted stock awards (3,877)     533 (529) (3,881)      
Employee stock purchase plan 2,440     26 2,414        
Director compensation plan 2,423     15 2,408        
Ending balance at Sep. 30, 2024 6,399,714   412,500 66,546 2,470,228 (6,098) 3,748,715   (292,177)
Beginning balance at Jun. 30, 2024 5,536,628   412,500 61,825 1,964,645 (5,760) 3,615,616   (512,198)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 170,001           170,001    
Other comprehensive income (loss), net of tax 220,021               220,021
Cash dividends declared on common stock (29,911)           (29,911)    
Dividends on Series D and E preferred stock (6,991)           (6,991)    
Stock-based compensation 9,461       9,461        
Common stock issued for:                  
Acquisition of Macatawa Bank Corporation 499,239     4,702 494,537        
Restricted stock awards (338)     10 (10) (338)      
Employee stock purchase plan 797     9 788        
Director compensation plan 807       807        
Ending balance at Sep. 30, 2024 $ 6,399,714   $ 412,500 $ 66,546 $ 2,470,228 $ (6,098) $ 3,748,715   $ (292,177)