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Recent Accounting Pronouncements (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Changes And Error Corrections [Abstract] |
Schedule of Impact of Adoption Reflected in Consolidated Balance Sheets | The following table reflects the impact of adoption reflected in the Company’s consolidated balance sheets. The increase in the allowance for loan losses represents a reduction in total assets, while the reserve for unfunded lending commitments represents an increase in total liabilities.
(in thousands) |  | December 31, 2019 |  |  | January 1, 2020 |  |  | CECL adoption impact |
Assets and Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan and lease losses |  | $ | 191,251 |  |  | $ | 240,662 |  |  | $ | 49,411 |
Reserve for unfunded lending commitments |  |  | 3,974 |  |  |  | 31,304 |  |  |  | 27,330 |
Allowance for credit losses |  | $ | 195,225 |  |  | $ | 271,966 |  |  | $ | 76,741 |
Retained Earnings |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit loss increase |  |  |  |  |  |  |  |  |  | $ | 76,741 |
Balance sheet reclassification |  |  |  |  |  |  |  |  |  |  | (19,767 | )
Total pretax impact |  |  |  |  |  |  |  |  |  |  | 56,974 |
Income tax impact |  |  |  |  |  |  |  |  |  |  | (12,888 | )
Decrease to retained earnings |  |  |  |  |  |  |  |  |  | $ | 44,086 |

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