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Unaudited Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 105,066 $ 106,040
Short-term investments 768,436 63,465
Cash and cash equivalents 873,502 169,505
Available for sale (amortized cost $5,358,289 and $7,825,435, respectively) 4,520,293 6,690,778
Held to maturity (fair value $412,864 and $423,226, respectively) 465,061 476,647
Total securities 4,985,354 7,167,425
Loans held for sale 2,835 4,543
Loans:    
Total loans 13,961,878 13,575,531
Allowance for loan losses (147,955) (142,211)
Unamortized premiums, net of unearned discounts and deferred fees (15,202) (13,003)
Net loans 13,798,721 13,420,317
Federal Home Loan Bank stock, at cost 26,894 41,363
Premises and equipment 59,501 62,656
Bank-owned life insurance 162,718 160,790
Goodwill and other intangibles, net 658,993 661,126
Deferred income taxes, net 351,054 331,648
Prepaid expenses 158,388 165,900
Other assets 505,533 461,585
Total assets 21,583,493 22,646,858
Deposits:    
Demand 5,346,693 6,240,637
Interest checking accounts 4,173,079 4,568,122
Savings accounts 1,495,540 1,831,123
Money market investment 4,814,412 4,710,095
Certificates of deposit 2,351,248 1,624,382
Total deposits 18,180,972 18,974,359
Borrowed funds:    
Short-term Federal Home Loan Bank advances 301,295 691,297
Escrow deposits of borrowers 22,980 22,314
Interest rate swap collateral funds 14,210 14,430
Long-term Federal Home Loan Bank advances 12,726 12,787
Total borrowed funds 351,211 740,828
Other liabilities 524,538 459,881
Total liabilities 19,056,721 20,175,068
Commitments and contingencies (see footnote 13)
Shareholders’ equity    
Common shares, $0.01 par value, 1,000,000,000 shares authorized, 176,376,675 and 176,172,073 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 1,766 1,762
Additional paid in capital 1,656,750 1,649,141
Unallocated common shares held by the Employee Stock Ownership Plan (135,232) (137,696)
Retained earnings 1,704,470 1,881,775
Accumulated other comprehensive income, net of tax (700,982) (923,192)
Total shareholders’ equity 2,526,772 2,471,790
Total liabilities and shareholders’ equity 21,583,493 22,646,858
Commercial and industrial    
Loans:    
Allowance for loan losses (29,535)  
Commercial and industrial | Commercial Portfolio Segment    
Loans:    
Total loans 3,341,976 3,150,946
Allowance for loan losses (29,535) (26,859)
Commercial real estate    
Loans:    
Allowance for loan losses (59,524)  
Commercial real estate | Commercial Portfolio Segment    
Loans:    
Total loans 5,242,290 5,155,323
Allowance for loan losses (59,524) (54,730)
Commercial construction    
Loans:    
Allowance for loan losses (7,663)  
Commercial construction | Commercial Portfolio Segment    
Loans:    
Total loans 371,367 336,276
Allowance for loan losses (7,663) (7,085)
Business banking    
Loans:    
Allowance for loan losses (15,228)  
Business banking | Commercial Portfolio Segment    
Loans:    
Total loans 1,089,548 1,090,492
Allowance for loan losses (15,228) (16,189)
Residential real estate    
Loans:    
Allowance for loan losses (27,012)  
Residential real estate | Residential Real Estate    
Loans:    
Total loans 2,510,705 2,460,849
Allowance for loan losses (27,012) (28,129)
Consumer home equity    
Loans:    
Allowance for loan losses (6,044)  
Consumer home equity | Consumer Portfolio Segment    
Loans:    
Total loans 1,198,290 1,187,547
Allowance for loan losses (6,044) (6,454)
Other consumer | Consumer Portfolio Segment    
Loans:    
Total loans $ 207,702 $ 194,098