Equity (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Changes to Accumulated Other Comprehensive Income by Component

The following table provides a summary of changes to Accumulated other comprehensive income (loss) by component for the three months ended March 31, 2024 and 2023.

Table 18.1 – Changes in Accumulated Other Comprehensive Income (Loss) by Component


	Three Months Ended March 31, 2024				Three Months Ended March 31, 2023
(In Thousands)	Available-for-Sale Securities		Interest Rate Agreements Accounted for as Cash Flow Hedges		Available-for-Sale Securities		Interest Rate Agreements Accounted for as Cash Flow Hedges
Balance at beginning of period	$	10,219	$	(68,176)	$	3,435	$	(72,303)
Other comprehensive income before reclassifications	8,656		—		5,007		—
Amounts reclassified from other accumulated comprehensive income (loss)	(629)		1,029		(193)		1,018
Net current-period other comprehensive income (loss)	8,027		1,029		4,814		1,018
Balance at End of Period	$	18,246	$	(67,147)	$	8,249	$	(71,285)

Schedule of Reclassifications out of Accumulated Other Comprehensive Income

The following table provides a summary of reclassifications out of Accumulated other comprehensive income (loss) for the three months ended March 31, 2024 and 2023.

Table 18.2 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)



		Amount Reclassified From Accumulated Other Comprehensive (Loss)
	Affected Line Item in the	Three Months Ended March 31,
(In Thousands)	Income Statement	2024		2023
Net Realized Loss on AFS Securities
(Decrease) increase in allowance for credit losses on AFS securities	Investment fair value changes, net	$	(629)	$	28
Gain on sale and calls of AFS securities	Realized gains, net	—		(221)

		$	(629)	$	(193)
Net Realized Loss on Interest Rate Agreements Designated as Cash Flow Hedges
Amortization of deferred loss	Interest expense	$	1,029	$	1,018
		$	1,029	$	1,018

Schedule of Basic and Diluted Earnings (Loss) Per Common Share

The following table provides the basic and diluted earnings per common share computations for the three months ended March 31, 2024 and 2023.

Table 18.3 – Basic and Diluted Earnings per Common Share


	Three Months Ended March 31,
(In Thousands, except Share Data)	2024		2023
Basic Earnings per Common Share:
Net income related to common stockholders	$	28,512	$	3,201
Less: Dividends and undistributed earnings allocated to participating securities	(1,356)		(1,404)
Net income related to common stockholders	$	27,156	$	1,797
Basic weighted average common shares outstanding	131,570,347		113,678,911
Basic Earnings per Common Share	$	0.21	$	0.02
Diluted Earnings per Common Share:
Net income related to common stockholders	$	28,512	$	3,201
Less: Dividends and undistributed earnings allocated to participating securities	(1,356)		(1,404)

Net income related to common stockholders	$	27,156	$	1,797
Weighted average common shares outstanding	131,570,347		113,678,911
Net effect of dilutive equity awards	—		455,645
Net effect of assumed convertible notes conversion to common shares	—		—
Diluted weighted average common shares outstanding	131,570,347		114,134,556
Diluted Earnings per Common Share	$	0.21	$	0.02