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SHAREHOLDERS' EQUITY AND EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Actual and Required Capital Ratios
The Company and Bank’s actual and required capital amounts were as follows:
 
 
 
 
 
 
Minimum
Capital
Requirement
 
Minimum to be Well
Capitalized Under
Prompt Corrective
Action Provisions
 
 
Actual
 
 
(Dollars in thousands)
 
Amount
 
Ratio
 
Amount
 
Ratio
 
Amount
 
Ratio
December 31, 2019
 
 

 
 

 
 

 
 

 
 

 
 

Company (Consolidated)
 
 

 
 

 
 

 
 

 
 

 
 

Total capital to risk-weighted assets
 
$
1,321,910

 
13.73
%
 
$
770,294

 
8.00
%
 
N/A

 
N/A

Common Equity Tier 1 Capital to risk weighted assets
 
1,161,800

 
12.07

 
433,290

 
4.50

 
N/A

 
N/A

Tier 1 capital to risk-weighted assets
 
1,183,932

 
12.30

 
577,720

 
6.00

 
N/A

 
N/A

Tier 1 capital to average assets
 
1,183,932

 
9.33

 
385,147

 
4.00

 
N/A

 
N/A

Bank
 
 

 
 

 
 

 
 

 
 

 
 

Total capital to risk-weighted assets
 
$
1,233,278

 
12.82
%
 
$
769,327

 
8.00
%
 
$
961,659

 
10.00
%
Common Equity Tier 1 Capital to risk weighted assets
 
1,169,535

 
12.16

 
432,747

 
4.50

 
625,079

 
6.50

Tier 1 capital to risk-weighted assets
 
1,169,535

 
12.16

 
576,996

 
6.00

 
769,327

 
8.00

Tier 1 capital to average assets
 
1,169,535

 
9.14

 
384,664

 
4.00

 
480,830

 
5.00

December 31, 2018
 
 

 
 

 
 

 
 

 
 

 
 

Company (Consolidated)
 
 

 
 

 
 

 
 

 
 

 
 

Total capital to risk-weighted assets
 
$
1,172,120

 
12.99
%
 
$
721,605

 
8.00
%
 
N/A

 
N/A

Common Equity Tier 1 Capital to risk weighted assets
 
1,029,724

 
11.42

 
405,903

 
4.50

 
N/A

 
N/A

Tier 1 capital to risk-weighted assets
 
1,043,898

 
11.57

 
541,203

 
6.00

 
N/A

 
N/A

Tier 1 capital to average assets
 
1,043,898

 
9.04

 
360,802

 
4.00

 
N/A

 
N/A

Bank
 
 

 
 

 
 

 
 

 
 

 
 

Total capital to risk-weighted assets
 
$
1,100,783

 
12.21
%
 
$
721,185

 
8.00
%
 
$
901,481

 
10.00
%
Common Equity Tier 1 Capital to risk weighted assets
 
1,043,401

 
11.57

 
405,667

 
4.50

 
585,963

 
6.50

Tier 1 capital to risk-weighted assets
 
1,043,401

 
11.57

 
540,889

 
6.00

 
721,185

 
8.00

Tier 1 capital to average assets
 
1,043,401

 
9.04

 
360,593

 
4.00

 
450,741

 
5.00
Schedule of Components of Accumulated Other Comprehensive (Loss)/Income
Year-end components of accumulated other comprehensive (loss)/income are as follows:
(In thousands)
 
2019
 
2018
Other accumulated comprehensive income/(loss), before tax:
 
 

 
 

Net unrealized holding gain/(loss) on AFS securities
 
$
19,263

 
$
(15,267
)
Net unrealized holding (loss) on pension plans
 
(3,023
)
 
(2,753
)
 
 
 
 
 
Income taxes related to items of accumulated other comprehensive (loss)/income:
 
 

 
 

Net unrealized holding (gain)/loss on AFS securities
 
(5,059
)
 
3,814

Net unrealized holding loss on pension plans
 
812

 
736

Accumulated other comprehensive income/(loss)
 
$
11,993

 
$
(13,470
)
Schedule of Components of Other Comprehensive (Loss)/Income
The following table presents the components of other comprehensive (loss)/income for the years ended December 31, 2019, 2018, and 2017:
(In thousands)
 
Before Tax
 
Tax Effect
 
Net of Tax
Year Ended December 31, 2019
 
 

 
 

 
 

Net unrealized holding gain on AFS securities:
 
 

 
 

 
 

Net unrealized gain arising during the period
 
$
34,591

 
$
(8,890
)
 
$
25,701

Less: reclassification adjustment for gains realized in net income
 
61

 
(17
)
 
44

Net unrealized holding gain on AFS securities
 
34,530

 
(8,873
)
 
25,657

 
 
 
 
 
 
 
Net unrealized holding (loss) on pension plans
 
 

 
 

 
 

Net unrealized (loss) arising during the period
 
(270
)
 
76

 
(194
)
Less: reclassification adjustment for (losses) realized in net income
 
—

 
—

 
—

Net unrealized holding (loss) on pension plans
 
(270
)
 
76

 
(194
)
Other comprehensive gain
 
$
34,260

 
$
(8,797
)
 
$
25,463

(In thousands)
 
Before Tax
 
Tax Effect
 
Net of Tax
Year Ended December 31, 2018
 
 

 
 

 
 

Net unrealized holding (loss) on AFS securities:
 
 

 
 

 
 

Net unrealized (loss) arising during the period
 
$
(16,917
)
 
$
4,419

 
$
(12,498
)
Less: reclassification adjustment for gains realized in net income
 
6

 
(2
)
 
4

Net unrealized holding (loss) on AFS securities
 
(16,923
)
 
4,421

 
(12,502
)
 
 
 
 
 
 
 
Net unrealized holding (loss) on pension plans
 
 

 
 

 
 

Net unrealized gain arising during the period
 
135

 
(54
)
 
81

Less: reclassification adjustment for (losses) realized in net income
 
(201
)
 
54

 
(147
)
Net unrealized holding gain on pension plans
 
336

 
(108
)
 
228

Other comprehensive (loss)
 
$
(16,587
)
 
$
4,313

 
$
(12,274
)
Less: reclassification related to adoption of ASU 2016-01
 
8,379

 
(2,126
)
 
6,253

Less: reclassification related to adoption of ASU 2018-02
 
—

 
(896
)
 
(896
)
Total change to accumulated other comprehensive (loss)
 
$
(24,966
)
 
$
7,335

 
$
(17,631
)

(In thousands)
 
Before Tax
 
Tax Effect
 
Net of Tax
Year Ended December 31, 2017
 
 

 
 

 
 

Net unrealized holding gain on AFS securities:
 
 

 
 

 
 

Net unrealized (loss) arising during the period
 
$
(2,544
)
 
$
1,075

 
$
(1,469
)
Less: reclassification adjustment for gains realized in net income
 
12,598

 
(4,535
)
 
8,063

Net unrealized holding gain on AFS securities
 
(15,142
)
 
5,610

 
(9,532
)
 
 
 
 
 
 
 
Net (loss) on cash flow hedging derivatives:
 
 

 
 

 
 

Net unrealized (loss) arising during the period
 
(449
)
 
180

 
(269
)
Less: reclassification adjustment for (losses) realized in net income
 
(7,022
)
 
2,769

 
(4,253
)
Net gain on cash flow hedging derivatives
 
6,573

 
(2,589
)
 
3,984

 
 
 
 
 
 
 
Net unrealized holding (loss) on pension plans
 
 

 
 

 
 

Net unrealized (loss) arising during the period
 
(311
)
 
124

 
(187
)
Less: reclassification adjustment for (losses) realized in net income
 
(217
)
 
87

 
(130
)
Net unrealized holding (losses) on pension plans
 
(94
)
 
37

 
(57
)
Other comprehensive (loss)
 
$
(8,663
)
 
$
3,058

 
$
(5,605
)
Schedule of Gross Changes in Each Component of Accumulated Other Comprehensive (Loss)/Income
The following table presents the changes in each component of accumulated other comprehensive (loss)/income, for the years ended December 31, 2019, 2018, and 2017:
(in thousands)
 
Net unrealized holding gain (loss) on AFS Securities
 
Net loss on effective cash flow hedging derivatives
 
Net unrealized holding gain (loss) on pension plans
 
Total
Year Ended December 31, 2019
 
 

 
 

 
 

 
 

Balance at Beginning of Year
 
$
(11,453
)
 
$
—

 
$
(2,017
)
 
$
(13,470
)
Other comprehensive gain/(loss) before reclassifications
 
25,701

 
—

 
(194
)
 
25,507

Amounts reclassified from accumulated other comprehensive income
 
44

 
—

 
—

 
44

Total other comprehensive (loss)/income
 
25,657

 
—

 
(194
)
 
25,463

Balance at End of Period
 
$
14,204

 
$
—

 
$
(2,211
)
 
$
11,993

 
 
 
 
 
 
 
 
 
Year Ended December 31, 2018
 
 

 
 

 
 

 
 

Balance at Beginning of Year
 
$
6,008

 
$
—

 
$
(1,847
)
 
$
4,161

Other comprehensive gain/(loss) before reclassifications
 
(12,498
)
 
—

 
81

 
(12,417
)
Amounts reclassified from accumulated other comprehensive income
 
4

 
—

 
(147
)
 
(143
)
Total other comprehensive (loss)/income
 
(12,502
)
 
—

 
228

 
(12,274
)
Less: amounts reclassified from accumulated other
comprehensive income (loss) related to adoption of ASU 2016-01 and ASU 2018-02
 
4,959

 
—

 
398

 
5,357

Balance at End of Period
 
$
(11,453
)
 
$
—

 
$
(2,017
)
 
$
(13,470
)
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2017
 
 

 
 

 
 

 
 

Balance at Beginning of Year
 
$
15,540

 
$
(3,984
)
 
$
(1,790
)
 
$
9,766

Other comprehensive gain/(loss) Before reclassifications
 
(1,469
)
 
(269
)
 
(187
)
 
(1,925
)
Amounts reclassified from accumulated other comprehensive income
 
8,063

 
(4,253
)
 
(130
)
 
3,680

Total other comprehensive income
 
(9,532
)
 
3,984

 
(57
)
 
(5,605
)
Balance at End of Period
 
$
6,008

 
$
—

 
$
(1,847
)
 
$
4,161
Schedule of Amounts Reclassified out of Each Component of Accumulated Other Comprehensive (Loss)/Income
The following table presents the amounts reclassified out of each component of accumulated other comprehensive (loss)/income for the years ended December 31, 2019, 2018, and 2017:
 
 
 
 
 
 
 
 
Affected Line Item in the
Statement Where Net Income
Is Presented
 
 
Years Ended December 31,
 
(in thousands)
 
2019
 
2018
 
2017
 
Realized gains/(losses) on AFS securities:
 
 
$
61

 
$
6

 
$
12,598

 
Non-interest income
 
 
(17
)
 
(2
)
 
(4,535
)
 
Tax expense
 
 
44

 
4

 
8,063

 
 
Realized (losses) on cash flow hedging derivatives:
 
 
—

 
—

 
(393
)
 
Interest expense
 
 
—

 
—

 
(6,629
)
 
Non-interest income
 
 
—

 
—

 
—

 
Non-interest expense
 
 
—

 
—

 
2,769

 
Tax benefit
 
 
—

 
—

 
(4,253
)
 
 
Realized (losses) on pension plans
 
 
 
 
 
 
 
 
 
 
—

 
(201
)
 
(217
)
 
Non-interest expense
 
 
—

 
54

 
87

 
Tax expense
 
 
—

 
(147
)
 
(130
)
 
 
Total reclassifications for the period
 
$
44

 
$
(143
)
 
$
3,680

 
 
Schedule of Earnings Per Share
Earnings per common share has been computed based on the following (average diluted shares outstanding is calculated using the treasury stock method):
 
 
Years Ended December 31,
(In thousands, except per share data)
 
2019
 
2018
 
2017
Net income from continuing operations
 
$
101,521

 
$
109,219

 
$
49,116

Net (loss)/income from discontinued operations
 
(4,071
)
 
(3,454
)
 
6,131

Net income
 
$
97,450

 
$
105,765

 
$
55,247

 
 
 
 
 
 
 
Average number of common shares issued
 
49,782

 
46,212

 
40,627

Less: average number of treasury shares
 
1,142

 
810

 
963

Less: average number of unvested stock award shares
 
420

 
421

 
437

Plus: average participating preferred shares
 
1,043

 
1,043

 
229

Average number of basic common shares outstanding
 
49,263

 
46,024

 
39,456

Plus: dilutive effect of unvested stock award shares
 
122

 
180

 
202

Plus: dilutive effect of stock options outstanding
 
36

 
27

 
37

Average number of diluted common shares outstanding
 
49,421

 
46,231

 
39,695

 
 
 
 
 
 
 
Basic earnings per share:
 
 

 
 

 
 

Continuing Operations
 
$
2.06

 
$
2.38

 
$
1.24

Discontinued operations
 
(0.08
)
 
(0.08
)
 
0.16

Basic earning per common share
 
$
1.98

 
$
2.30

 
$
1.40

 
 
 
 
 
 
 
Diluted earnings per share:
 
 

 
 

 
 

Continuing Operations
 
$
2.05

 
$
2.36

 
$
1.24

Discontinued operations
 
(0.08
)
 
(0.07
)
 
0.15

Diluted earnings per common share
 
$
1.97

 
$
2.29

 
$
1.39