XML 43 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Schedule of preferred stock dividend declaration and payment
The following table presents cash dividends declared by the Company on its Series B Preferred Stock from January 1, 2018 through September 30, 2018:

Declaration Date
 
Record Date
 
Payment Date
 
Dividend Per Share
August 20, 2018
 
September 7, 2018
 
September 28, 2018
 
$
0.46875

May 17, 2018
 
June 4, 2018
 
June 29, 2018
 
0.46875

February 20, 2018
 
March 2, 2018
 
March 30, 2018
 
0.46875
Schedule of cash dividends declared on common stock
The following table presents cash dividends declared by the Company on its common stock from January 1, 2018 through September 30, 2018:
 
Declaration Date (1)
 
Record Date
 
Payment Date
 
Dividend Per Share
September 13, 2018
 
October 1, 2018
 
October 31, 2018
 
$
0.20

(1)
June 7, 2018
 
June 29, 2018
 
July 31, 2018
 
0.20

 
March 7, 2018
 
March 29, 2018
 
April 30, 2018
 
0.20

 
 
(1)  At September 30, 2018, the Company had accrued dividends and dividend equivalents payable of $90.1 million related to the common stock dividend declared on September 13, 2018
Schedule of sale of stock
The table below presents information with respect to shares of the Company’s common stock issued through public offerings during the nine months ended September 30, 2018 and the year ended December 31, 2017.

Share Issue Date
 
Shares Issued
 
Gross Proceeds Per Share
 
Gross Proceeds
(In Thousands, Except Per Share Amounts)
 
 
 
 
 
 
 
August 7, 2018
 
50,875

(1)
$
7.78

 
$
395,807

(1)
May 10, 2017
 
23,000

 
7.85

 
180,550

(2)

(1) Includes approximately 875,000 shares issued on September 5, 2018 pursuant to the exercise of the underwriters’ option to purchase additional shares. The Company incurred approximately $6.5 million of underwriting discounts and related expenses in connection with this equity offering.
(2) The Company incurred approximately $2.3 million of underwriting discounts and related expenses in connection with this equity offering.
Schedule of changes in balances of each component of the entity's AOCI
The following table presents changes in the balances of each component of the Company’s AOCI for the three and nine months ended September 30, 2018:
 
 
Three Months Ended 
 September 30, 2018
 
Nine Months Ended 
 September 30, 2018
(In Thousands)
 
Net Unrealized
Gain/(Loss) on
AFS Securities
 
Net 
(Loss)/Gain
on Swaps
 
Total AOCI
 
Net Unrealized
Gain/(Loss) on
AFS Securities
 
Net 
(Loss)/Gain
on Swaps
 
Total AOCI
Balance at beginning of period
 
$
548,551

 
$
16,160

 
$
564,711

 
$
620,648

 
$
(11,424
)
 
$
609,224

OCI before reclassifications
 
(34,278
)
 
5,390

 
(28,888
)
 
(90,250
)
 
32,974

 
(57,276
)
Amounts reclassified from AOCI (1)
 
(9,455
)
 
—

 
(9,455
)
 
(25,580
)
 
—

 
(25,580
)
Net OCI during the period (2)
 
(43,733
)
 
5,390

 
(38,343
)
 
(115,830
)
 
32,974

 
(82,856
)
Balance at end of period
 
$
504,818

 
$
21,550

 
$
526,368

 
$
504,818

 
$
21,550

 
$
526,368


(1)  See separate table below for details about these reclassifications.
(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).
 

The following table presents changes in the balances of each component of the Company’s AOCI for the three and nine months ended September 30, 2017:
 
 
Three Months Ended 
 September 30, 2017
 
Nine Months Ended 
 September 30, 2017
(In Thousands)
 
Net Unrealized
Gain/(Loss) on
AFS Securities
 
Net 
(Loss)/Gain
on Swaps
 
Total AOCI
 
Net Unrealized
Gain/(Loss) on
AFS Securities
 
Net 
(Loss)/Gain
on Swaps
 
Total AOCI
Balance at beginning of period
 
$
668,223

 
$
(35,841
)
 
$
632,382

 
$
620,403

 
$
(46,721
)
 
$
573,682

OCI before reclassifications
 
6,988

 
5,791

 
12,779

 
71,188

 
16,671

 
87,859

Amounts reclassified from AOCI (1)
 
(14,935
)
 
—

 
(14,935
)
 
(31,315
)
 
—

 
(31,315
)
Net OCI during the period (2)
 
(7,947
)
 
5,791

 
(2,156
)
 
39,873

 
16,671

 
56,544

Balance at end of period
 
$
660,276

 
$
(30,050
)
 
$
630,226

 
$
660,276

 
$
(30,050
)
 
$
630,226


(1)  See separate table below for details about these reclassifications.
(2)  For further information regarding changes in OCI, see the Company’s consolidated statements of comprehensive income/(loss).
Information about the significant amounts reclassified out of the entity's AOCI
The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and nine months ended September 30, 2018:
 
 
Three Months Ended 
 September 30, 2018
 
Nine Months Ended 
 September 30, 2018
 
 
Details about AOCI Components
 
Amounts Reclassified from AOCI
 
Affected Line Item in the Statement
Where Net Income is Presented
(In Thousands)
 
 
 
 
 
 
AFS Securities:
 
 
 
 
 
 
Realized gain on sale of securities
 
$
(9,455
)
 
$
(25,580
)
 
Net gain on sales of investment securities
Total AFS Securities
 
$
(9,455
)
 
$
(25,580
)
 
 
Total reclassifications for period
 
$
(9,455
)
 
$
(25,580
)
 
 
 
The following table presents information about the significant amounts reclassified out of the Company’s AOCI for the three and nine months ended September 30, 2017:
 
 
Three Months Ended 
 September 30, 2017
 
Nine Months Ended 
 September 30, 2017
 
 
Details about AOCI Components
 
Amounts Reclassified from AOCI
 
Affected Line Item in the Statement
Where Net Income is Presented
(In Thousands)
 
 
 
 
 
 
AFS Securities:
 
 
 
 
 
 
Realized gain on sale of securities
 
$
(14,935
)
 
$
(30,283
)
 
Net gain on sales of investment securities
OTTI recognized in earnings
 
—

 
(1,032
)
 
Net impairment losses recognized in earnings
Total AFS Securities
 
$
(14,935
)
 
$
(31,315
)
 
 
Total reclassifications for period
 
$
(14,935
)
 
$
(31,315
)