Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Changes in other comprehensive income are summarized as follows for the periods indicated (in thousands):


	Three Months Ended June 30,
	2023						2022
	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Unrealized gains (losses) on investment securities available for sale:
Net unrealized holding losses arising during the period	$	(24,818)	$	6,453	$	(18,365)	$	(240,498)	$	62,529	$	(177,969)
Amounts reclassified to gain on investment securities available for sale, net	(847)		220		(627)		(905)		235		(670)
Net change in unrealized gains (losses) on investment securities available for sale	(25,665)		6,673		(18,992)		(241,403)		62,764		(178,639)
Unrealized gains (losses) on derivative instruments:
Net unrealized holding gains arising during the period	43,720		(11,367)		32,353		17,387		(4,521)		12,866
Amounts reclassified to interest expense on deposits	(5,813)		1,511		(4,302)		455		(118)		337
Amounts reclassified to interest expense on borrowings	(9,996)		2,599		(7,397)		3,703		(963)		2,740
Amounts reclassified to interest income on loans	622		(162)		460		—		—		—

Net change in unrealized gains (losses) on derivative instruments	28,533		(7,419)		21,114		21,545		(5,602)		15,943
Other comprehensive income (loss)	$	2,868	$	(746)	$	2,122	$	(219,858)	$	57,162	$	(162,696)


	Six Months Ended June 30,
	2023						2022
	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Unrealized gains (losses) on investment securities available for sale:
Net unrealized holding gains (losses) arising during the period	$	76,447	$	(19,876)	$	56,571	$	(476,932)	$	123,983	$	(352,949)
Amounts reclassified to gain on investment securities available for sale, net	(1,599)		416		(1,183)		(3,578)		930		(2,648)
Net change in unrealized gains (losses) on investment securities available for sale	74,848		(19,460)		55,388		(480,510)		124,913		(355,597)
Unrealized gains (losses) on derivative instruments:
Net unrealized holding gains arising during the period	40,794		(10,606)		30,188		59,350		(15,305)		44,045
Amounts reclassified to interest expense on deposits	(10,862)		2,824		(8,038)		1,177		(306)		871
Amounts reclassified to interest expense on borrowings	(17,493)		4,548		(12,945)		8,413		(2,187)		6,226
Amounts reclassified to interest income on loans	1,014		(264)		750		—		—		—
Net change in unrealized gains (losses) on derivative instruments	13,453		(3,498)		9,955		68,940		(17,798)		51,142
Other comprehensive income (loss)	$	88,301	$	(22,958)	$	65,343	$	(411,570)	$	107,115	$	(304,455)

The categories of AOCI and changes therein are presented below for the periods indicated (in thousands):


	Three Months Ended June 30,
	Unrealized Gain (Loss) on Investment Securities Available for Sale		Unrealized Gain on Derivative Instruments		Total





Balance at March 31, 2023	$	(424,531)	$	49,847	$	(374,684)
Other comprehensive income (loss)	(18,992)		21,114		2,122
Balance at June 30, 2023	$	(443,523)	$	70,961	$	(372,562)

Balance at March 31, 2022	$	(174,099)	$	16,400	$	(157,699)
Other comprehensive income (loss)	(178,639)		15,943		(162,696)
Balance at June 30, 2022	$	(352,738)	$	32,343	$	(320,395)


	Six Months Ended June 30,
	Unrealized Gain (Loss) on Investment Securities Available for Sale		Unrealized Gain (Loss) on Derivative Instruments		Total





Balance at December 31, 2022	$	(498,911)	$	61,006	$	(437,905)
Other comprehensive income (loss)	55,388		9,955		65,343
Balance at June 30, 2023	$	(443,523)	$	70,961	$	(372,562)

Balance at December 31, 2021	$	2,859	$	(18,799)	$	(15,940)
Other comprehensive income (loss)	(355,597)		51,142		(304,455)
Balance at June 30, 2022	$	(352,738)	$	32,343	$	(320,395)