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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 72,689 $ 106,040
Short-term investments 536,119 63,465
Cash and cash equivalents 608,808 169,505
Available for sale (amortized cost $5,257,264 and $7,825,435, respectively) 4,261,518 6,690,778
Held to maturity (fair value $387,654 and $423,226, respectively) 455,900 476,647
Total securities 4,717,418 7,167,425
Loans held for sale 23,892 4,543
Loans:    
Total loans 13,919,275 13,575,531
Allowance for loan losses (155,146) (142,211)
Unamortized premiums, net of unearned discounts and deferred fees (19,307) (13,003)
Net loans 13,744,822 13,420,317
Federal Home Loan Bank stock, at cost 37,125 41,363
Premises and equipment 59,033 62,493
Bank-owned life insurance 163,700 160,790
Goodwill and other intangibles, net 566,709 568,009
Deferred income taxes, net 416,081 331,963
Prepaid expenses 156,113 165,368
Other assets 527,873 426,863
Assets of discontinued operations 124,718 128,219
Total assets 21,146,292 22,646,858
Deposits:    
Demand 5,177,015 6,240,637
Interest checking accounts 3,671,871 4,568,122
Savings accounts 1,393,545 1,831,123
Money market investment 4,709,149 4,710,095
Certificates of deposit 2,472,589 1,624,382
Total deposits 17,424,169 18,974,359
Borrowed funds:    
Short-term Federal Home Loan Bank advances 656,336 691,297
Escrow deposits of borrowers 24,947 22,314
Interest rate swap collateral funds 16,900 14,430
Long-term Federal Home Loan Bank advances 17,189 12,787
Total borrowed funds 715,372 740,828
Other liabilities 525,378 424,951
Liabilities of discontinued operations 34,820 34,930
Total liabilities 18,699,739 20,175,068
Commitments and contingencies (see Note 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 September 30, 2023 and December 31, 2022, respectively 1,766 1,762
Additional paid in capital 1,661,136 1,649,141
Unallocated common shares held by the Employee Stock Ownership Plan (133,992) (137,696)
Retained earnings 1,747,225 1,881,775
Accumulated other comprehensive income, net of tax (829,582) (923,192)
Total shareholders’ equity 2,446,553 2,471,790
Total liabilities and shareholders’ equity 21,146,292 22,646,858
Commercial and industrial | Commercial Portfolio Segment    
ASSETS    
Loans held for sale 22,213 0
Loans:    
Total loans 3,087,509 3,150,946
Allowance for loan losses (26,518) (26,859)
Commercial real estate | Commercial Portfolio Segment    
Loans:    
Total loans 5,396,912 5,155,323
Allowance for loan losses (70,623) (54,730)
Commercial construction | Commercial Portfolio Segment    
Loans:    
Total loans 382,615 336,276
Allowance for loan losses (7,799) (7,085)
Business banking | Commercial Portfolio Segment    
Loans:    
Total loans 1,087,799 1,090,492
Allowance for loan losses (15,218) (16,189)
Residential real estate | Residential Real Estate    
ASSETS    
Loans held for sale 1,679 4,543
Loans:    
Total loans 2,550,861 2,460,849
Allowance for loan losses (26,355) (28,129)
Consumer home equity | Consumer Portfolio Segment    
Loans:    
Total loans 1,193,859 1,187,547
Allowance for loan losses (5,482) (6,454)
Other consumer | Consumer Portfolio Segment    
Loans:    
Total loans $ 219,720 $ 194,098