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UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect accounting adjustment
Common Stock
Additional Paid in Capital
Retained Earnings
Retained Earnings
Cumulative effect accounting adjustment
Accumulated Other Comprehensive Loss
Unallocated Common Stock Held by ESOP
Beginning balance (in shares) at Dec. 31, 2021     186,305,332          
Beginning Balance at Dec. 31, 2021 $ 3,406,352 $ (20,098) [1] $ 1,863 $ 1,835,241 $ 1,768,653 $ (20,098) [1] $ (56,696) $ (142,709)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends to common shareholders $ (50,263)       (50,263)      
Repurchased common stock (in shares) (8,564,338)   (8,564,338)          
Repurchased common stock $ (170,771)   $ (86) (170,685)        
Issuance of restricted stock awards (in shares)     31,559          
Issuance of restricted stock awards 0   $ 1 (1)        
Share-based compensation 8,092     8,092        
Net income (loss) 157,465       157,465      
Other comprehensive income (loss), net of tax (922,122)           (922,122)  
ESOP shares committed to be released 7,508     3,749       3,759
Ending balance (in shares) at Sep. 30, 2022     177,772,553          
Ending balance at Sep. 30, 2022 2,416,163   $ 1,778 1,676,396 1,855,757   (978,818) (138,950)
Beginning balance (in shares) at Dec. 31, 2021     186,305,332          
Beginning Balance at Dec. 31, 2021 $ 3,406,352 (20,098) [1] $ 1,863 1,835,241 1,768,653 (20,098) [1] (56,696) (142,709)
Ending balance (in shares) at Dec. 31, 2022 176,172,073   176,172,073          
Ending balance at Dec. 31, 2022 $ 2,471,790 822 [2] $ 1,762 1,649,141 1,881,775 822 [2] (923,192) (137,696)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Accounting Standards Update [Extensible List] [2] Accounting Standards Update 2022-02              
Beginning balance (in shares) at Jun. 30, 2022     179,253,801          
Beginning Balance at Jun. 30, 2022 $ 2,718,396   $ 1,793 1,700,495 1,817,474   (661,163) (140,203)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends to common shareholders $ (16,494)       (16,494)      
Repurchased common stock (in shares) (1,481,248)   (1,481,248)          
Repurchased common stock $ (28,950)   $ (15) (28,935)        
Share-based compensation 3,561     3,561        
Net income (loss) 54,777       54,777      
Other comprehensive income (loss), net of tax (317,655)           (317,655)  
ESOP shares committed to be released 2,528     1,275       1,253
Ending balance (in shares) at Sep. 30, 2022     177,772,553          
Ending balance at Sep. 30, 2022 $ 2,416,163   $ 1,778 1,676,396 1,855,757   (978,818) (138,950)
Beginning balance (in shares) at Dec. 31, 2022 176,172,073   176,172,073          
Beginning Balance at Dec. 31, 2022 $ 2,471,790 $ 822 [2] $ 1,762 1,649,141 1,881,775 $ 822 [2] (923,192) (137,696)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends to common shareholders $ (49,046)       (49,046)      
Repurchased common stock (in shares) 0              
Issuance of restricted stock awards (in shares)     47,820          
Issuance of restricted stock awards $ 0   $ 1 (1)        
Issuance of common stock under share-based compensation arrangements (in shares) [3]     156,782          
Issuance of common stock under share-based compensation arrangements [3] (1,164)   $ 3 (1,167)        
Share-based compensation 11,387     11,387        
Net income (loss) (86,326)       (86,326)      
Other comprehensive income (loss), net of tax 93,610           93,610  
ESOP shares committed to be released $ 5,480     1,776       3,704
Ending balance (in shares) at Sep. 30, 2023 176,376,675   176,376,675          
Ending balance at Sep. 30, 2023 $ 2,446,553   $ 1,766 1,661,136 1,747,225   (829,582) (133,992)
Beginning balance (in shares) at Jun. 30, 2023     176,376,675          
Beginning Balance at Jun. 30, 2023 2,526,772   $ 1,766 1,656,750 1,704,470   (700,982) (135,232)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Dividends to common shareholders (16,358)       (16,358)      
Share-based compensation 3,675     3,675        
Net income (loss) 59,113       59,113      
Other comprehensive income (loss), net of tax (128,600)           (128,600)  
ESOP shares committed to be released $ 1,951     711       1,240
Ending balance (in shares) at Sep. 30, 2023 176,376,675   176,376,675          
Ending balance at Sep. 30, 2023 $ 2,446,553   $ 1,766 $ 1,661,136 $ 1,747,225   $ (829,582) $ (133,992)
[1] Represents gross transition adjustment amount of $28.0 million, net of taxes of $7.9 million, to reflect the cumulative impact on retained earnings pursuant to the Company’s adoption of Accounting Standards Update 2016-13. Refer to Note 4, “Loans and Allowance for Credit Losses” within the Notes to the Unaudited Consolidated Financial Statements included in Part I, Item 1 in this Quarterly Report on Form 10-Q for additional discussion.
[2] Represents gross transition adjustment amount of $1.1 million, net of taxes of $0.3 million, to reflect the cumulative impact on retained earnings pursuant to the Company’s adoption of Accounting Standards Update 2022-02. Refer to Note 4, “Loans and Allowance for Credit Losses” within the Notes to the Unaudited Consolidated Financial Statements included in Part I, Item 1 in this Quarterly Report on Form 10-Q for additional discussion.
[3] Represents shares issued, net of employee tax withheld, during the nine months ended September 30, 2023 upon the vesting of restricted stock units. Refer to Note 11, “Share-Based Compensation” within the Notes to the Unaudited Consolidated Financial Statements included in Part I, Item 1 in this Quarterly Report on Form 10-Q for additional discussion.