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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME:      
Loans and leases $ 1,542,215 $ 1,553,004 $ 1,467,944
Securities and money market investments 165,778 252,156 221,729
Total interest income 1,707,993 1,805,160 1,689,673
INTEREST EXPENSE:      
Interest-bearing checking and money market accounts 56,939 174,347 167,972
Savings accounts 31,650 35,705 28,994
Certificates of deposit 217,413 320,234 182,383
Borrowed funds 301,849 317,474 279,329
Total interest expense 607,851 847,760 658,678
Net interest income 1,100,142 957,400 1,030,995
Provision for credit losses 62,228 7,105 18,256
Net interest income after provision for credit loan losses 1,037,914 950,295 1,012,739
NON-INTEREST INCOME:      
Fee income 22,026 29,297 29,765
Bank-owned life insurance 31,750 28,363 28,252
Net gain (loss) on securities 1,265 7,725 (1,994)
Other 6,039 18,845 35,535
Total non-interest income 61,080 84,230 91,558
Operating expenses:      
Compensation and benefits 300,914 301,697 317,496
Occupancy and equipment 85,887 89,174 100,107
General and administrative 124,389 120,347 129,025
Total non-interest expense 511,190 511,218 546,628
Income before income taxes 587,804 523,307 557,669
Income tax expense 76,695 128,264 135,252
Net income 511,109 395,043 422,417
Preferred stock dividends 32,828 32,828 32,828
Net income available to common shareholders $ 478,281 $ 362,215 $ 389,589
Basic earnings per common share $ 1.02 $ 0.77 $ 0.79
Diluted earnings per common share $ 1.02 $ 0.77 $ 0.79
Net income $ 511,109 $ 395,043 $ 422,417
Other comprehensive income (loss), net of tax:      
Change in net unrealized gain (loss) on securities available for sale, net of tax of $(15,836); $(17,669); and $31,345, respectively 41,935 45,934 (50,553)
Change in pension and post-retirement obligations, net of tax of $1,660; $(2,307) and $(2,829) (5,359) 4,756 (27,113)
Change in net unrealized (loss) gain on cash flow hedges, net of tax of $16,088 and $(376), respectively (42,397) 964  
Less: Reclassification adjustment for sales of available-for-sale securities, net of tax of $188; $1,527; and $(4), respectively (495) (3,918) 10
Reclassification adjustment for defined benefit pension plan, net of tax of $(1,953); $(2,726) and $(2,068), respectively 5,150 7,185 5,170
Reclassification adjustment for net gain on cash flow hedges included in net income, net of tax $(3,236) and $43, respectively 8,531 (111)  
Total other comprehensive income (loss), net of tax 7,365 54,810 (72,486)
Total comprehensive income, net of tax $ 518,474 $ 449,853 $ 349,931