Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Net income $ 234,510 $ 263,917 $ 158,228
Cash flow hedges:      
Change in fair value of cash flow hedges (net of tax, $14,100, $404, and $186 for the years ended December 31, 2022, 2021, 2020 respectively) (53,043) (1,520) (699)
Reclassification adjustment for (gains) losses included in net income (net of tax, $0, $12, and $394 for the years ended December 31, 2022, 2021, 2020 respectively) [1] 0 (47) 1,481
AFS securities:      
Unrealized holding (losses) gains arising during period (net of tax, $102,789, 13,644, and $12,227 for the years ended December 31, 2022, 2021, 2020 respectively) (386,684) (51,329) 45,996
Reclassification adjustment for (gains) losses included in net income (net of tax, $1, $18, and $2,582 for the years ended December 31, 2022, 2021, 2020 respectively) [2] 2 (69) (9,712)
HTM securities:      
Reclassification adjustment for accretion of unrealized gain on AFS securities transferred to HTM (net of tax, $5, $5, and $5 for the years ended December 31, 2022, 2021, 2020, respectively) [3] (18) (20) (20)
Bank owned life insurance:      
Unrealized holding gains (losses) arising during period 2,205 0 (2,098)
Reclassification adjustment for losses included in net income [4] 617 605 492
Other comprehensive (loss) income (436,921) (52,380) 35,440
Comprehensive (loss) income $ (202,411) $ 211,537 $ 193,668
[1] The gross amounts are generally reported in the interest income and interest expense sections of the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense. The gross amounts reclassified into earnings for the year ended December 31, 2020 included a $1.8 million loss related to the termination of a cash flow hedge that is reported in “Other operating income” with the corresponding income tax effect being reflected as a component of income tax expense.
[2] The gross amounts
[3] The gross amounts reclassified into earnings are reported within interest income on the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.
[4] Reclassifications in earnings are reported in "Salaries and benefits" expense on the Company’s Consolidated Statements of Income.