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Unaudited Consolidated Statements of Changes in Shareholders Equity - USD ($)
$ in Thousands
Total
Cumulative effect accounting adjustment
[1]
Common Stock
Additional Paid in Capital
Retained Earnings
Retained Earnings
Cumulative effect accounting adjustment
[1]
Accumulated Other Comprehensive Income (Loss)
Unallocated Common Stock Held by ESOP
Beginning balance (in shares) at Dec. 31, 2019     0          
Beginning Balance at Dec. 31, 2019 $ 1,600,153 $ (1,131) $ 0 $ 0 $ 1,644,000 $ (1,131) $ (43,847) $ 0
Net income 66,800       66,800      
Other comprehensive income (loss), net of tax 47,550           47,550  
Ending balance (in shares) at Sep. 30, 2020     0          
Ending balance at Sep. 30, 2020 1,713,372   $ 0 0 1,709,669   3,703 0
Beginning balance (in shares) at Jun. 30, 2020     0          
Beginning Balance at Jun. 30, 2020 1,693,630   $ 0 0 1,681,164   12,466 0
Net income 28,505       28,505      
Other comprehensive income (loss), net of tax (8,763)           (8,763)  
Ending balance (in shares) at Sep. 30, 2020     0          
Ending balance at Sep. 30, 2020 $ 1,713,372   $ 0 0 1,709,669   3,703 0
Beginning balance (in shares) at Dec. 31, 2020 186,758,154   186,758,154,000          
Beginning Balance at Dec. 31, 2020 $ 3,428,052   $ 1,868 1,854,068 1,665,607   54,234 (147,725)
Dividends to common shareholders [2] (37,885)       (37,885)      
Net income 119,578       119,578      
Other comprehensive income (loss), net of tax (87,309)           (87,309)  
ESOP shares committed to be released $ 6,856     3,097       3,759
Ending balance (in shares) at Sep. 30, 2021 186,758,154   186,758,154,000          
Ending balance at Sep. 30, 2021 $ 3,429,292   $ 1,868 1,857,165 1,747,300   (33,075) (143,966)
Beginning balance (in shares) at Jun. 30, 2021     186,758,154,000          
Beginning Balance at Jun. 30, 2021 3,430,622   $ 1,868 1,856,241 1,723,979   (6,247) (145,219)
Dividends to common shareholders [3] (13,785)       (13,785)      
Net income 37,106       37,106      
Other comprehensive income (loss), net of tax (26,828)           (26,828)  
ESOP shares committed to be released $ 2,177     924       1,253
Ending balance (in shares) at Sep. 30, 2021 186,758,154   186,758,154,000          
Ending balance at Sep. 30, 2021 $ 3,429,292   $ 1,868 $ 1,857,165 $ 1,747,300   $ (33,075) $ (143,966)
[1] Represents cumulative impact on retained earnings pursuant to the Company’s (as defined herein) adoption of Accounting Standards Update 2016-02 Leases. The transition adjustment to the opening balance of retained earnings on January 1, 2020 amounted to $1.1 million, net of tax, related to an incremental accrued rent adjustment calculated as a result of electing the hindsight practical expedient.
[2] The Company declared and paid quarterly cash dividends of $0.06, $0.08 and $0.08 per share of common stock during the three months ended March 31, 2021, June 30, 2021 and September 30, 2021, respectively.
[3] The Company declared and paid a quarterly cash dividend of $0.08 per share of common stock during the three months ended September 30, 2021.