Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net income $ 201,818 $ 234,510 $ 263,917
Cash flow hedges:      
Change in fair value of cash flow hedges (net of tax, $3,308, $14,100, and $404, for the years ended December 31, 2023, 2022, 2021 respectively) 12,445 (53,043) (1,520)
Reclassification adjustment for gains included in net income (net of tax) [1] 0 0 (47)
AFS securities:      
Unrealized holding gains (losses) arising during period (net of tax, $7,710, $102,789, and $13,644, for the years ended December 31, 2023, 2022, 2021 respectively) 29,006 (386,684) (51,329)
Reclassification adjustment for losses (gains) included in net income (net of tax, $8,608, $1, and $18, for the years ended December 31, 2023, 2022, 2021 respectively) [2] 32,381 2 (69)
HTM securities:      
Reclassification adjustment for accretion of unrealized gain on AFS securities transferred to HTM (net of tax) [3] (11) (18) (20)
Bank owned life insurance:      
Unrealized holding gains arising during the period 10 2,205 0
Reclassification adjustment for losses included in net income [4] 1,106 617 605
Other comprehensive income (loss) 74,937 (436,921) (52,380)
Comprehensive income (loss) $ 276,755 $ (202,411) $ 211,537
[1] (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.
[2] (2) The gross amounts reclassified into earnings are reported as “Other operating income” on the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.
[3] (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] (4) Reclassifications in earnings are reported in "Salaries and benefits" expense on the Company’s Consolidated Statements of Income.