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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST AND DIVIDEND INCOME      
Loan receivable $ 729,619 $ 652,480 $ 549,291
Investment securities 33,037 28,603 20,531
Federal Home Loan Bank stock 1,207 1,663 1,798
Federal funds sold and securities purchased under agreement to resell 0 0 110
Deposits with banks 5,404 5,209 4,421
Total interest and dividend income 769,267 687,955 576,151
INTEREST EXPENSE      
Time deposits 152,791 86,368 46,768
Other deposits 25,311 20,503 19,076
Interest on securities sold under agreements to repurchase 0 1,446 4,250
Advances from the Federal Home Loan Bank 7,441 3,739 2,712
Long-term debt 7,847 8,723 5,775
Deferred payments from acquisition 568 1,090 1,861
Short-term borrowings 403 187 0
Total interest expense 194,361 122,056 80,442
Net interest income before reversal for credit losses 574,906 565,899 495,709
Reversal for credit losses (7,000) (4,500) (2,500)
Net interest income after reversal for credit losses 581,906 570,399 498,209
NON-INTEREST INCOME      
Net gains/(losses) from equity securities 5,736 (2,787) 0
Securities gains, net 211 22 1,006
Letters of credit commissions 6,407 5,614 4,860
Depository service fees 31,481 27,985 25,649
Gain from acquisition. 0 340 5,628
Other operating income 27,634 23,434 19,179
Total non-interest income [1] 44,751 31,707 36,297
NON-INTEREST EXPENSE      
Salaries and employee benefits 129,300 124,477 109,458
Occupancy expense 22,004 20,690 20,429
Computer and equipment expense 11,113 11,402 10,846
Professional services expense 23,107 22,810 20,439
Data processing service expense 13,210 12,438 11,190
FDIC and State assessments 9,617 8,000 10,633
Marketing expense 7,585 7,837 6,200
Other real estate owned loss/(income) 1,115 (719) (1,649)
Operations of investments in affordable housing and alternative energy partnerships, net 39,731 40,515 27,212
Amortization of core deposit premium 687 876 930
Acquisition and integration costs 0 2,105 4,121
Other operating expense 19,819 13,988 16,390
Total non-interest expense 277,288 264,419 236,199
Income before income tax 349,369 337,687 298,307
Income tax expense 70,234 65,802 122,265
Net income attributable to common stockholders 279,135 271,885 176,042
Other comprehensive income/(loss), net of tax:      
Unrealized holding gains/(losses) on securities available for sale 23,628 (7,934) 1,068
Unrealized holding (losses)/gains on cash flow hedge derivatives (3,171) 1,525 719
Less: reclassification adjustment for gains included in net income 149 15 583
Total other comprehensive income/(loss), net of tax 20,308 (6,424) 1,204
Total comprehensive income $ 299,443 $ 265,461 $ 177,246
Net income attributable to common stockholders per common share      
Basic (in dollars per share) $ 3.49 $ 3.35 $ 2.19
Diluted (in dollars per share) $ 3.48 $ 3.33 $ 2.17
Basic average common shares outstanding (in shares) 79,999,703 81,131,269 80,262,782
Diluted average common shares outstanding (in shares) 80,247,893 81,607,346 81,004,550
Deposit Account [Member]      
NON-INTEREST INCOME      
Depository service fees $ 4,763 $ 5,084 $ 5,624
[1] There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606. For comparability, the Company has adjusted consolidated prior period amounts to conform to the periods presentation.