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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY — UNAUDITED - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning balance, preferred stock (shares) at Dec. 31, 2023   5,700,000          
Beginning balance at Dec. 31, 2023 $ 1,638,394 $ 137,794 $ 35,459 $ 564,538 $ 1,159,582 $ (136,569) $ (122,410)
Beginning balance, common stock (shares) at Dec. 31, 2023     31,440,906        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 107,811       107,811    
Other comprehensive income (loss) 5,211         5,211  
Preferred stock dividends [1] (7,585)       (7,585)    
Share-based compensation expense 7,246     7,246      
Issuance of common stock under share-based compensation arrangements (shares)     226,749        
Issuance of common stock under share-based compensation arrangements (4,212)   $ 227 (4,439)      
Ending balance, preferred stock (shares) at Jun. 30, 2024   5,700,000          
Ending balance at Jun. 30, 2024 1,746,865 $ 137,794 $ 35,686 567,345 1,259,808 (131,358) (122,410)
Ending balance, common stock (shares) at Jun. 30, 2024     31,667,655        
Beginning balance, preferred stock (shares) at Mar. 31, 2024   5,700,000          
Beginning balance at Mar. 31, 2024 1,691,617 $ 137,794 $ 35,540 567,490 1,205,508 (132,305) (122,410)
Beginning balance, common stock (shares) at Mar. 31, 2024     31,521,931        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 58,085       58,085    
Other comprehensive income (loss) 947         947  
Preferred stock dividends [2] (3,785)       (3,785)    
Share-based compensation expense 3,270     3,270      
Issuance of common stock under share-based compensation arrangements (shares)     145,724        
Issuance of common stock under share-based compensation arrangements (3,269)   $ 146 (3,415)      
Ending balance, preferred stock (shares) at Jun. 30, 2024   5,700,000          
Ending balance at Jun. 30, 2024 $ 1,746,865 $ 137,794 $ 35,686 567,345 1,259,808 (131,358) (122,410)
Ending balance, common stock (shares) at Jun. 30, 2024     31,667,655        
Beginning balance, preferred stock (shares) at Dec. 31, 2024 5,700,000 5,700,000          
Beginning balance at Dec. 31, 2024 $ 1,836,683 $ 137,794 $ 35,758 575,333 1,326,011 (96,560) (141,653)
Beginning balance, common stock (shares) at Dec. 31, 2024 31,346,507   31,346,507        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income $ 73,851       73,851    
Other comprehensive income (loss) 25,235         25,235  
Preferred stock dividends [1] (6,574)       (6,574)    
Redemption of preferred stock (shares) [3]   (2,300,000)          
Redemption of preferred stock [3] (55,593) $ (55,593)          
Loss on redemption of preferred stock [3] (1,908)       (1,908)    
Share-based compensation expense 8,737     8,737      
Issuance of common stock under share-based compensation arrangements (shares)     364,633        
Issuance of common stock under share-based compensation arrangements $ (11,232)   $ 365 (11,597)      
Repurchase of common shares (in shares) (104,206)   (104,206)        
Repurchase of common shares $ (5,641)           (5,641)
Ending balance, preferred stock (shares) at Jun. 30, 2025 3,400,000 3,400,000          
Ending balance at Jun. 30, 2025 $ 1,863,558 $ 82,201 $ 36,123 572,473 1,391,380 (71,325) (147,294)
Ending balance, common stock (shares) at Jun. 30, 2025 31,606,934   31,606,934        
Beginning balance, preferred stock (shares) at Mar. 31, 2025   5,700,000          
Beginning balance at Mar. 31, 2025 $ 1,864,560 $ 137,794 $ 35,995 570,172 1,335,534 (67,641) (147,294)
Beginning balance, common stock (shares) at Mar. 31, 2025     31,479,132        
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 60,939       60,939    
Other comprehensive income (loss) (3,684)         (3,684)  
Preferred stock dividends [2] (3,185)       (3,185)    
Redemption of preferred stock (shares) [4]   (2,300,000)          
Redemption of preferred stock [4] (55,593) $ (55,593)          
Loss on redemption of preferred stock [4] (1,908)       (1,908)    
Share-based compensation expense 4,442     4,442      
Issuance of common stock under share-based compensation arrangements (shares)     127,802        
Issuance of common stock under share-based compensation arrangements $ (2,013)   $ 128 (2,141)      
Ending balance, preferred stock (shares) at Jun. 30, 2025 3,400,000 3,400,000          
Ending balance at Jun. 30, 2025 $ 1,863,558 $ 82,201 $ 36,123 $ 572,473 $ 1,391,380 $ (71,325) $ (147,294)
Ending balance, common stock (shares) at Jun. 30, 2025 31,606,934   31,606,934        
[1] Dividends per share of $1.229832 and $1.182057 were declared on Series E and F preferred stock, respectively, for the six months ended June 30, 2025. Dividends per share of $1.382118 and $1.333556 were declared on Series E and F preferred stock, respectively, for the six months ended June 30, 2024.
[2] Dividends per share of $0.613042 and $0.589155 were declared on Series E and F preferred stock, respectively, for the three months ended June 30, 2025. Dividends per share of $0.700488 and $0.675813 were declared on Series E and F preferred stock, respectively, for the three months ended June 30, 2024.
[3] Refer to NOTE 11 – SHAREHOLDERS’ EQUITY for additional information about the redemption of Series E Preferred Stock.
[4] Refer to NOTE 11 – SHAREHOLDERS’ EQUITY for additional information about the redemption of Series E Preferred Stock.