Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Net income $ 263,917 $ 158,228 $ 193,528
Cash flow hedges:      
Change in fair value of cash flow hedges (1,520) (699) (5,103)
Reclassification adjustment for losses (gains) included in net income (net of tax, $12, $394, and $2,051 for the years ended December 31, 2021, 2020, 2019 respectively) [1] (47) 1,481 7,714
AFS securities:      
Unrealized holding gains (losses) arising during period (net of tax, $13,644, $12,227, and $13,262 for the years ended December 31, 2021, 2020, 2019 respectively) (51,329) 45,996 49,890
Reclassification adjustment for gains included in net income (net of tax, $18, $2,582, and $1,611 for the years ended December 31, 2021, 2020, 2019 respectively) [2] (69) (9,712) (6,064)
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, 2021, 2020, 2019 respectively) [3] (20) (20) (20)
Bank owned life insurance:      
Unrealized holding losses arising during the period 0 (2,098) (646)
Reclassification adjustment for losses included in net income [4] 605 492 77
Other comprehensive income (loss) (52,380) 35,440 45,848
Comprehensive income $ 211,537 $ 193,668 $ 239,376
[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 reclassified into earnings are reported as "Gains on securities transactions" on the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.
[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.