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Shareholders' Equity
3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity [Text Block] Shareholders' Equity
On April 29, 2025, the Company declared a quarterly cash dividend of $0.57 per common share payable on or about May 28, 2025, to shareholders of record as of May 15, 2025.

Dividends declared were $0.57 per share during the three months ended March 31, 2025, and $0.55 per share during the three months ended March 31, 2024.

Accumulated Other Comprehensive Income (Loss)

AOCI includes unrealized gains and losses on AFS securities. AOCI also includes unrealized losses on AFS securities that were transferred from AFS to investment securities in the second quarter of 2022. Such amounts are being amortized over the estimated remaining life of the security as an adjustment to yield, offsetting the related amortization of premium on the transferred securities. Gains and losses in AOCI are net of deferred income taxes.
A rollforward of the components of accumulated other comprehensive income (loss) is included as follows (in thousands):
Unrealized Gain (Loss) on
Available-for-Sale Securities
Investment Securities Transferred from AFSTotal
Balance, Dec. 31, 2023$(473,212)$(125,888)$(599,100)
Net change in unrealized gain (loss)
(71,806)— (71,806)
Reclassification adjustments included in earnings:
Interest revenue, Investment securities— 12,183 12,183 
Loss on available-for-sale securities, net
45,171 — 45,171 
Other comprehensive income (loss), before income taxes(26,635)12,183 (14,452)
Federal and state income taxes(6,289)2,865 (3,424)
Other comprehensive income (loss), net of income taxes(20,346)9,318 (11,028)
Balance, March 31, 2024$(493,558)$(116,570)$(610,128)
Balance, Dec. 31, 2024$(412,348)$(90,692)$(503,040)
Net change in unrealized gain (loss)
173,828  173,828 
Reclassification adjustments included in earnings:
Interest revenue, Investment securities 9,444 9,444 
Loss on available-for-sale securities, net
   
Other comprehensive income (loss), before income taxes173,828 9,444 183,272 
Federal and state income taxes40,476 2,099 42,575 
Other comprehensive income (loss), net of income taxes133,352 7,345 140,697 
Balance, March 31, 2025$(278,996)$(83,347)$(362,343)