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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

A summary of corrections is presented below.

Corrected Consolidated Statement of Cash Flows
(unaudited)
			Year Ended December 31, 2020
(in thousands)			As Reported						Adjustment						As Corrected
Investing Activities
Proceeds from sales of investment securities available for sale			$	4,054,670					$	(1,404,984)					$	2,649,686
Purchases of investment securities available for sale			(7,441,163)						1,404,984						(6,036,179)
Net cash used in investing activities			$	2,352,973					$	—					$	2,352,973

Accounting Standards Update and Change in Accounting Principle

The following table illustrates the impact of ASC 326 adoption:

			As of January 1, 2020
in thousands			Pre-ASC 326 Adoption						Impact of ASC 326 Adoption						As Reported under ASC 326
Assets
Allowance for loan losses:
Commercial and industrial			$	145,782					$	(2,310)					$	143,472
Commercial real estate			67,430						(651)						66,779
Consumer			68,190						85,955						154,145
Total allowance for loan losses			$	281,402					$	82,994					$	364,396
Liabilities
Reserve for unfunded commitments			$	1,375					$	27,440					$	28,815
Allowance for credit losses			$	282,777					$	110,434					$	393,211

The following table illustrates the distribution of the ASC 326 adoption impact to loans and equity:

			As of January 1, 2020
in thousands			Pre-ASC 326 Adoption						Impact of ASC 326 Adoption						As Reported under ASC 326
Loans, net			$	36,881,048					$	(20,767)					$	36,860,281
Retained earnings			1,068,327						(35,721)						1,032,606

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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