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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST AND DIVIDEND INCOME      
Loan receivable $ 677,193 $ 729,619 $ 652,480
Investment securities 20,599 33,037 28,603
Federal Home Loan Bank stock 952 1,207 1,663
Deposits with banks 1,830 5,404 5,209
Total interest and dividend income 700,574 769,267 687,955
INTEREST EXPENSE      
Time deposits 111,629 152,791 86,368
Other deposits 25,396 25,311 20,503
Interest on securities sold under agreements to repurchase 0 0 1,446
Advances from the Federal Home Loan Bank 5,299 7,441 3,739
Long-term debt 5,791 7,847 8,723
Deferred payments from acquisition 115 568 1,090
Short-term borrowings 234 403 187
Total interest expense 148,464 194,361 122,056
Net interest income before provision/(reversal) for credit losses 552,110 574,906 565,899
Provision/(reversal) for credit losses (57,500) 7,000 4,500
Net interest income after provision/(reversal) for credit losses 494,610 581,906 570,399
NON-INTEREST INCOME      
Net (losses)/gains from equity securities (1,148) 5,736 (2,787)
Securities gains, net 1,695 211 22
Letters of credit commissions 6,741 6,407 5,614
Depository service fees 4,949 4,763 5,084
Gain from acquisition 0 0 340
Other operating income 30,583 27,634 23,434
Total non-interest income 42,820 44,751 31,707
NON-INTEREST EXPENSE      
Salaries and employee benefits 124,022 129,300 124,477
Occupancy expense 20,634 22,004 20,690
Computer and equipment expense 11,133 11,113 11,402
Professional services expense 21,856 23,107 22,810
Data processing service expense 14,897 13,210 12,438
FDIC and State assessments 8,999 9,617 8,000
Marketing expense 5,224 7,585 7,837
Other real estate owned (income)/loss (3,091) 1,115 (719)
Operations of investments in affordable housing and alternative energy partnerships, net 58,225 39,731 40,515
Amortization of core deposit premium 687 687 876
Acquisition and integration costs 0 0 2,105
Cost associated with debt redemption 693 0 0
Other operating expense 20,186 19,819 13,988
Total non-interest expense 283,465 277,288 264,419
Income before income tax expense 253,965 349,369 337,687
Income tax expense 25,105 70,234 65,802
Net income attributable to common stockholders 228,860 279,135 271,885
Other comprehensive income/(loss), net of tax:      
Unrealized holding gains/(losses) on securities available for sale 7,680 23,628 (7,934)
Unrealized holding (losses)/gains on cash flow hedge derivatives (3,478) (3,171) 1,525
Less: reclassification adjustment for gains included in net income 1,194 149 15
Total other comprehensive income/(loss), net of tax 3,008 20,308 (6,424)
Total comprehensive income $ 231,868 $ 299,443 $ 265,461
Basic (in dollars per share) $ 2.88 $ 3.49 $ 3.35
Diluted (in dollars per share) $ 2.87 $ 3.48 $ 3.33
Basic average common shares outstanding (in shares) 79,584,560 79,999,703 81,131,269
Diluted average common shares outstanding (in shares) 79,777,847 80,247,893 81,607,346