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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 87,233 $ 106,040
Short-term investments 605,843 63,465
Cash and cash equivalents 693,076 169,505
Available for sale (amortized cost $5,161,904 and $7,825,435, respectively) 4,407,521 6,690,778
Held to maturity (fair value $404,822 and $423,226, respectively) 449,721 476,647
Total securities 4,857,242 7,167,425
Loans held for sale 1,124 4,543
Loans:    
Total loans 13,973,428 13,575,531
Allowance for loan losses (148,993) (142,211)
Unamortized premiums, net of unearned discounts and deferred fees, net of costs (25,068) (13,003)
Net loans 13,799,367 13,420,317
Federal Home Loan Bank stock, at cost 5,904 41,363
Premises and equipment 60,133 62,493
Bank-owned life insurance 164,702 160,790
Goodwill and other intangibles, net 566,205 568,009
Deferred income taxes, net 266,185 331,963
Prepaid expenses 183,073 165,368
Other assets 536,267 426,863
Assets of discontinued operations 0 128,219
Total assets 21,133,278 22,646,858
Deposits:    
Demand 5,162,218 6,240,637
Interest checking accounts 3,737,361 4,568,122
Savings accounts 1,323,126 1,831,123
Money market investment 4,664,475 4,710,095
Certificates of deposit 2,709,037 1,624,382
Total deposits 17,596,217 18,974,359
Borrowed funds:    
Short-term Federal Home Loan Bank advances 95 691,297
Escrow deposits of borrowers 21,978 22,314
Interest rate swap collateral funds 8,500 14,430
Long-term Federal Home Loan Bank advances 17,643 12,787
Total borrowed funds 48,216 740,828
Other liabilities 513,990 424,951
Liabilities of discontinued operations 0 34,930
Total liabilities 18,158,423 20,175,068
Commitments and contingencies (see Note 17) 0 0
Common shares, $0.01 par value, 1,000,000,000 shares authorized; 176,426,993 and 176,172,073 shares issued and outstanding at December 31, 2023 and 2022, respectively 1,767 1,762
Additional paid in capital 1,666,441 1,649,141
Unallocated common shares held by the Employee Stock Ownership Plan (132,755) (137,696)
Retained earnings 2,047,754 1,881,775
Accumulated other comprehensive income, net of tax (608,352) (923,192)
Total shareholders’ equity 2,974,855 2,471,790
Total liabilities and shareholders’ equity 21,133,278 22,646,858
Commercial and industrial | Commercial Portfolio Segment    
Loans:    
Total loans 3,034,068 3,150,946
Allowance for loan losses (26,959) (26,859)
Commercial real estate | Commercial Portfolio Segment    
Loans:    
Total loans 5,457,349 5,155,323
Allowance for loan losses (65,475) (54,730)
Commercial construction | Commercial Portfolio Segment    
Loans:    
Total loans 386,999 336,276
Allowance for loan losses (6,666) (7,085)
Business banking | Commercial Portfolio Segment    
Loans:    
Total loans 1,085,763 1,090,492
Allowance for loan losses (14,913) (16,189)
Residential real estate | Residential Portfolio Segment    
Loans:    
Total loans 2,565,485 2,460,849
Allowance for loan losses (25,954) (28,129)
Consumer home equity | Consumer Portfolio Segment    
Loans:    
Total loans 1,208,231 1,187,547
Allowance for loan losses (5,595) (6,454)
Other consumer | Consumer Portfolio Segment    
Loans:    
Total loans $ 235,533 $ 194,098