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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income/(loss) from continuing operations $ 118,664,000 $ (513,175,000) $ 101,521,000
Net (loss) from discontinued operations 0 (19,842,000) (4,071,000)
Net income/(loss) 118,664,000 (533,017,000) 97,450,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (benefit) for credit losses (500,000) 75,878,000 35,419,000
Net amortization of securities 1,939,000 2,513,000 2,407,000
Change in unamortized net loan origination costs and premiums (1,918,000) 21,856,000 12,759,000
Premises and equipment depreciation and amortization expense 11,035,000 11,919,000 10,921,000
Stock-based compensation expense 4,170,000 4,727,000 4,812,000
Accretion of purchase accounting entries, net (6,577,000) (10,377,000) (14,813,000)
Amortization of other intangibles 5,200,000 6,181,000 5,783,000
Income from cash surrender value of bank-owned life insurance policies (5,561,000) (5,354,000) (5,349,000)
Securities losses/(gains), net 787,000 7,576,000 (4,389,000)
Net change in loans held-for-sale 5,775,000 (4,267,000) (5,137,000)
Loss on disposition of assets 2,811,000 327,000 3,443,000
Loss on sale of real estate 6,000 13,000 5,000
Amortization of interest in tax-advantaged projects 3,444,000 3,645,000 6,455,000
Goodwill impairment 0 553,762,000 0
Gain on sale of business operations and other assets (52,942,000) 0 0
Prepayment penalties on repayment of Federal Home Loan Bank advances 862,000 0 0
Net change in other 18,282,000 (31,247,000) (23,418,000)
Net cash provided by operating activities of continuing operations 105,477,000 123,977,000 130,419,000
Net cash provided/(used) by operating activities of discontinued operations 0 103,664,000 (18,894,000)
Net cash provided by operating activities 105,477,000 227,641,000 111,525,000
Cash flows from investing activities:      
Net decrease in trading security 776,000 734,000 701,000
Purchases of marketable equity securities 0 (17,631,000) (23,841,000)
Proceeds from sales of marketable equity securities 2,880,000 33,928,000 43,075,000
Purchases of securities available for sale (804,616,000) (885,182,000) (119,671,000)
Proceeds from sales of securities available for sale 0 69,337,000 136,229,000
Proceeds from maturities, calls, and prepayments of securities available for sale 575,538,000 457,586,000 240,586,000
Purchases of securities held to maturity (219,470,000) (144,651,000) (7,260,000)
Proceeds from maturities, calls, and prepayments of securities held to maturity 46,061,000 35,331,000 21,602,000
Net change in loans 1,262,521,000 1,054,029,000 694,657,000
Net change in Mid-Atlantic region loans held for sale 50,914,000 0 0
Acquisitions, net of cash paid 0 0 110,774,000
Proceeds from surrender of bank-owned life insurance 2,566,000 553,000 2,451,000
Purchase of Federal Home Loan Bank stock 0 (6,741,000) (112,208,000)
Proceeds from sales of Federal Home Loan Bank stock 24,078,000 19,887,000 149,455,000
Net investment in limited partnership tax credits (2,878,000) (7,280,000) (4,387,000)
Purchase of premises and equipment, net (1,606,000) (7,208,000) (10,565,000)
Proceeds from sales of seasoned commercial loan portfolios 16,417,000 37,988,000 81,147,000
Proceeds from sales of other real estate owned 187,000 171,000 150,000
Cash outflows from sale of business operations and other assets (352,814,000) 0 0
Net investing cash flows provided/(used) by discontinued operations 0 252,000 (313,000)
Net cash provided by investing activities 600,554,000 641,103,000 1,202,582,000
Cash flows from financing activities:      
Net increase in deposits (154,052,000) 499,657,000 23,996,000
Net change in Mid-Atlantic region deposits held for sale 20,953,000 0 0
Proceeds from Federal Home Loan Bank advances and other borrowings 0 326,277,000 5,384,982,000
Repayments of Federal Home Loan Bank advances and other borrowings (462,059,000) (582,648,000) (6,228,780,000)
Purchase of treasury stock (68,712,000) (473,000) (52,746,000)
Exercise of stock options 417,000 664,000 188,000
Common and preferred stock cash dividends paid (24,553,000) (36,564,000) (45,107,000)
Settlement of derivative contracts with financial institution counterparties 51,907,000 (97,611,000) 0
Net cash (used)/provided by financing activities (636,099,000) 109,302,000 (917,467,000)
Net change in cash and cash equivalents 69,932,000 978,046,000 396,640,000
Cash and cash equivalents at beginning of year 1,557,875,000 579,829,000 183,189,000
Cash and cash equivalents at end of year 1,627,807,000 1,557,875,000 579,829,000
Supplemental cash flow information:      
Interest paid on deposits 29,606,000 82,319,000 119,695,000
Interest paid on borrowed funds 11,385,000 21,277,000 33,406,000
Income taxes (refunded)/paid, net 14,816,000 (13,864,000) 19,818,000
Acquisition of non-cash assets and liabilities:      
Assets acquired 0 0 1,595,054,000
Liabilities assumed 0 0 (1,530,010,000)
Other net comprehensive income/(loss) (34,114,000) 18,878,000 25,463,000
Reclassifications of loans to loans held for sale 11,660,000 14,845,000 120,307,000
Reclass of premises and equipment to held-for-sale 4,577,000 0 0
Real estate owned acquired in settlement of loans 0 224,000 0
Retained earnings      
Cash flows from operating activities:      
Net income/(loss) 118,664,000 (533,017,000) 97,450,000
Impact of ASC 326 adoption | Retained earnings      
Impact to retained earnings from adoption of ASC 326, net of tax 0 24,380,000 0
Discontinued Operations, Held-for-sale | Mid-Atlantic Branch Sale      
Reclassifications of loans to loans held for sale 0 317,304,000 0
Mid- Atlantic liabilities reclassified to held for sale 0 630,065,000 0
Reclass of Mid-Atlantic loans held-for-sale to portfolio loans, net 29,418,000 0 0
Reclass of Mid-Atlantic deposits held-for-sale to deposits, net $ 7,197,000 $ 0 $ 0