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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Minimum Required Capital Amounts and Ratios for Well Capitalized Institutions and The Actual Capital Amounts and Ratios for The Company and The Bank

The table below sets forth the minimum required capital amounts and ratios for well capitalized institutions and the actual capital amounts and ratios for the Company and the Bank as of December 31, 2024 and 2023:


(dollars in thousands)	Well Capitalized Minimum Ratio			Company			Bank
As of December 31, 2024
Common Shareholders’ Equity				$	1,322,774		$	1,540,431
Common Equity Tier 1 Capital					1,648,889			1,869,247
Tier 1 Capital					1,984,990			1,869,247
Total Capital					2,133,624			2,017,881
Common Equity Tier 1 Capital Ratio		6.5	%		11.59	%		13.16	%
Tier 1 Capital Ratio		8.0	%		13.95	%		13.16	%
Total Capital Ratio		10.0	%		15.00	%		14.20	%
Tier 1 Leverage Ratio		5.0	%		8.31	%		7.83	%

As of December 31, 2023
Common Shareholders’ Equity				$	1,238,756		$	1,369,733
Common Equity Tier 1 Capital					1,611,645			1,754,222
Tier 1 Capital					1,787,132			1,754,222
Total Capital					1,935,532			1,902,622
Common Equity Tier 1 Capital Ratio		6.5	%		11.33	%		12.33	%
Tier 1 Capital Ratio		8.0	%		12.56	%		12.33	%
Total Capital Ratio		10.0	%		13.60	%		13.38	%
Tier 1 Leverage Ratio		5.0	%		7.51	%		7.38	%

Components of Other Comprehensive Income

The following table presents the components of other comprehensive income (loss), net of tax:


(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Year Ended December 31, 2024
Net Unrealized Gains on Investment Securities:
Net Unrealized Gains Arising During the Period	$	47,860		$	12,683		$	35,177
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Amortization of Unrealized Holding Losses on Held-to-Maturity Securities		24,844			6,586			18,258
Net Unrealized Gains on Investment Securities		72,704			19,269			53,435
Defined Benefit Plans:
Net Actuarial Losses Arising During the Period		(1,101	)		(291	)		(810	)
Amortization of Net Actuarial Losses		1,163			308			855
Amortization of Prior Service Credit		(246	)		(65	)		(181	)
Defined Benefit Plans, Net		(184	)		(48	)		(136	)
Other Comprehensive Income	$	72,520		$	19,221		$	53,299

Year Ended December 31, 2023
Net Unrealized Gains on Investment Securities:
Net Unrealized Gains Arising During the Period	$	17,692		$	4,661		$	13,031
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Loss on Sale		4,582			1,237			3,345
Amortization of Unrealized Holding Losses on Held-to-Maturity Securities		26,909			7,133			19,776
Net Unrealized Gains on Investment Securities		49,183			13,031			36,152
Defined Benefit Plans:
Net Actuarial Gains Arising During the Period		1,968			521			1,447
Amortization of Net Actuarial Losses		751			199			552
Amortization of Prior Service Credit		(246	)		(65	)		(181	)
Defined Benefit Plans, Net		2,473			655			1,818
Other Comprehensive Income	$	51,656		$	13,686		$	37,970

Year Ended December 31, 2022
Net Unrealized Losses on Investment Securities:
Net Unrealized Losses Arising During the Period	$	(523,221	)	$	(138,678	)	$	(384,543	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Amortization of Unrealized Holding Losses on Held-to-Maturity Securities		10,680			2,831			7,849
Net Unrealized Losses on Investment Securities		(512,541	)		(135,847	)		(376,694	)
Defined Benefit Plans:
Net Actuarial Gains Arising During the Period		9,525			2,525			7,000
Amortization of Net Actuarial Losses		2,175			576			1,599
Amortization of Prior Service Credit		(246	)		(65	)		(181	)
Defined Benefit Plans, Net		11,454			3,036			8,418
Other Comprehensive Loss	$	(501,087	)	$	(132,811	)	$	(368,276	)

The amortization of unrealized holding losses on HTM securities amounts relate to the amortization/accretion of unrealized losses related to the Company’s reclassification of AFS investment securities to the HTM category. The unrealized losses will be amortized over the remaining life of the investment securities as an adjustment of yield.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax:


(dollars in thousands)		Investment Securities- Available-For-Sale		Investment Securities-Held-To-Maturity		Defined Benefit Plans		Accumulated Other Comprehensive Income (Loss)
Year Ended December 31, 2024
Balance at Beginning of Period	$	(224,407)	$	(149,021)	$	(23,260)	$	(396,688)
Other Comprehensive Income (Loss) Before Reclassifications		35,177		—		(810)		34,367
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—		18,258		674		18,932
Total Other Comprehensive Income (Loss)		35,177		18,258		(136)		53,299
Balance at End of Period	$	(189,230)	$	(130,763)	$	(23,396)	$	(343,389)

Year Ended December 31, 2023
Balance at Beginning of Period	$	(240,783)	$	(168,797)	$	(25,078)	$	(434,658)
Other Comprehensive Income (Loss) Before Reclassifications		13,031		—		1,447		14,478
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		3,345		19,776		371		23,492
Total Other Comprehensive Income (Loss)		16,376		19,776		1,818		37,970
Balance at End of Period	$	(224,407)	$	(149,021)	$	(23,260)	$	(396,688)

Year Ended December 31, 2022
Balance at Beginning of Period	$	(32,940)	$	54	$	(33,496)	$	(66,382)
Other Comprehensive Income (Loss) Before Reclassifications		(384,543)		—		7,000		(377,543)
Unrealized Net Losses Related to the Transfer of Securities from Available-for-Sale to Held-to-Maturity		176,700		(176,700)		—		—
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—		7,849		1,418		9,267
Total Other Comprehensive Income (Loss)		(207,843)		(168,851)		8,418		(368,276)
Balance at End of Period	$	(240,783)	$	(168,797)	$	(25,078)	$	(434,658)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss):


	Amount Reclassified from Accumulated Other
	Comprehensive Income (Loss) 1									Affected Line Item in the
	Year Ended December 31,									Statement Where
(dollars in thousands)	2024			2023			2022			Net Income is Presented
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(24,844	)	$	(26,909	)	$	(10,680	)	Interest Income
		6,586			7,133			2,831		Provision for Income Tax
		(18,258	)		(19,776	)		(7,849	)	Net of Tax
Sales of Investment Securities Available-for-Sale		—			(4,582	)		—		Investment Securities Gains (Losses), Net
		—			1,237			—		Provision for Income Tax
		—			(3,345	)		—		Net of Tax
Amortization of Defined Benefit Plans Items
Prior Service Credit 2		246			246			246
Net Actuarial Losses 2		(1,163	)		(751	)		(2,175	)
		(917	)		(505	)		(1,929	)	Total Before Tax
		243			134			511		Provision for Income Tax
		(674	)		(371	)		(1,418	)	Net of Tax
Total Reclassifications for the Period	$	(18,932	)	$	(23,492	)	$	(9,267	)	Net of Tax

Amounts in parentheses indicate reductions to net income.

These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in other noninterest expense in the consolidated statements of income.