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Shareholders' Equity
 12 Months Ended
Dec. 31, 2024
Accumulated Other Comprehensive Income [Abstract]  
Stockholders' Equity
NOTE 15 - SHAREHOLDERS' EQUITY
Preferred Stock

On October 29, 2020, the Corporation issued 8.0 million depositary shares ("Depositary Shares"), each representing a 1/40th interest in a share of the Corporation's 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, of which 200,000 are authorized and issued, with a liquidation preference of $1,000 per share (equivalent to $25.00 per Depositary Share), for an aggregate offering amount of $200 million. The preferred stock is redeemable, at the Corporation's option, in whole or in part, on and after January 15, 2026, and redeemable in whole, but not in part, prior to January 15, 2026 within 90 days following the occurrence of a regulatory capital treatment event.

Common Stock Offering

On May 1, 2024, the Corporation completed its underwritten public offering of 19,166,667 shares of its common stock at a price to the public of $15.00 per share, before underwriting discounts. The net proceeds to the Corporation from the offering after deducting underwriting discounts and transaction expenses were approximately $272.6 million.

Stock Reissuance

On July 1, 2022, the Corporation reissued 6,208,516 shares of common stock that had been held as Treasury stock in connection with the Merger.
Accumulated Other Comprehensive Income (Loss)

The following table presents the components of OCI for the years ended December 31: 
Before-Tax AmountTax EffectNet of Tax Amount
(dollars in thousands)
2024
Net unrealized gains (losses) on securities$(28,993)$6,568 $(22,425)
Reclassification adjustment for securities gains (losses) included in net income(1)
20,283 (4,594)15,689 
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)
7,251 (1,642)5,609 
Net unrealized holding gains (losses) arising during the period on interest rate derivatives used in cash flow hedges764 (174)590 
Reclassification adjustment for net gains (losses) realized in net income on interest rate derivatives used in cash flow hedges23,453 (5,312)18,141 
Unrecognized pension and postretirement income9,411 (2,132)7,279 
Amortization of net unrecognized pension and postretirement items(3)
(541)119 (422)
Total Other Comprehensive Income (Loss)$31,628 $(7,167)$24,461 
2023
Net unrealized gains (losses) on securities$46,572 $(10,549)$36,023 
Reclassification adjustment for securities gains (losses) included in net income(1)
(733)166 (567)
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)
7,644 (1,731)5,913 
Net unrealized holding gains (losses) arising during the period on interest rate derivatives used in cash flow hedges9,048 (2,050)6,998 
Reclassification adjustment for net gains (losses) realized in net income on interest rate derivatives used in cash flow hedges25,850 (5,855)19,995 
Unrecognized pension and postretirement income 6,162 (1,385)4,777 
Amortization of net unrecognized pension and postretirement items(3)
73 (16)57 
Total Other Comprehensive Income (Loss)$94,616 $(21,420)$73,196 
2022
Net unrealized gains (losses) on securities$(403,606)$91,437 $(312,169)
Reclassification adjustment for securities gains (losses) included in net income(1)
(27)7 (20)
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)
(57,509)13,026 (44,483)
Net unrealized holding gains (losses) arising during the period on interest rate derivatives used in cash flow hedges(81,400)18,437 (62,963)
Reclassification adjustment for net gains (losses) loss realized in net income on interest rate swaps used in cash flow hedges7,761 (1,757)6,004 
Unrecognized pension and postretirement income 825 (181)644 
Amortization of net unrecognized pension and postretirement items(3)
128 (28)100 
Total Other Comprehensive Income (Loss)$(533,828)$120,941 $(412,887)
(1) Amounts reclassified out of AOCI. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See "Note 4
- Investment Securities," for additional details.
(2) Amounts reclassified out of AOCI. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income.
(3) Amounts reclassified out of AOCI. Before-tax amounts included in "Salaries and employee benefits" on the Consolidated Statements of Income. See "Note
17 - Employee Benefit Plans," for additional details.    
The following table presents changes in each component of AOCI, net of tax, for the years ended December 31: 
Unrealized Gains (Losses) on Investment SecuritiesNet Unrealized Gain (Loss) on Interest Rate Derivatives used in Cash Flow HedgesUnrecognized Pension and Postretirement Plan Income (Costs)Total
(dollars in thousands)
Balance at December 31, 2021$40,441 $(4,817)$(8,213)$27,411 
OCI before reclassifications(312,169)(62,963)644 (374,488)
Amounts reclassified from AOCI (20)6,004 100 6,084 
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM(44,483)— — (44,483)
Balance at December 31, 2022(316,231)(61,776)(7,469)(385,476)
OCI before reclassifications36,023 6,998 4,777 47,798 
Amounts reclassified from AOCI(567)19,995 57 19,485 
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM5,913 — — 5,913 
Balance at December 31, 2023(274,862)(34,783)(2,635)(312,280)
OCI before reclassifications(22,425)590 7,279 (14,556)
Amounts reclassified from AOCI15,689 18,141 (422)33,408 
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM5,609 — — 5,609 
Balance at December 31, 2024$(275,989)$(16,052)$4,222 $(287,819)

Common Stock Repurchase Programs

On December 17, 2024, the Corporation announced that its Board of Directors approved the 2025 Repurchase Program. The 2025 Repurchase Program will expire on December 31, 2025. Under the 2025 Repurchase Program, the Corporation is authorized to repurchase up to $125.0 million of shares of its common stock. Under this authorization, up to $25.0 million of the $125 million authorization may be used to repurchase the Corporation's Preferred Stock. The 2025 Repurchase Program may be discontinued at any time.

On December 19, 2023, the Corporation announced that its Board of Directors approved the 2024 Repurchase Program. The 2024 Repurchase Program expired on December 31, 2024. Under the 2024 Repurchase Program, the Corporation was authorized to repurchase up to $125.0 million of shares of its common stock. Under this authorization, up to $25.0 million of the $125 million authorization may be used to repurchase the Corporation's Preferred Stock and outstanding subordinated notes through December 31, 2024. During 2024, 1.9 million shares were repurchased at a total cost of $30.3 million, or $15.69 per share, under the 2024 Repurchase Program.

On December 20, 2022, the Corporation announced that its Board of Directors approved the 2023 Repurchase Program. Under the 2023 Repurchase Program, the Corporation was authorized to repurchase up to $100.0 million of its common stock through December 31, 2023. During 2023, 5.0 million shares were repurchased at a total cost of $77.1 million, or $15.32 per share, under the 2023 Repurchase Program.

Under these repurchase programs, repurchased shares are added to treasury stock, at cost. As permitted by securities laws and other legal requirements, and subject to market conditions and other factors, purchases may be made from time to time in open market or privately negotiated transactions, including, without limitation, through accelerated share repurchase transactions.