Stockholders' Equity |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders’ Equity and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity and Regulatory Matters | STOCKHOLDERS’ EQUITY Warrants The Company redeemed all of the Fixed Rate Cumulative Perpetual Preferred Stock issued under the U.S. Treasury Department’s TARP Capital Purchase Program. The Company assumed certain warrants (related to the TARP Capital Purchase Plan) to purchase shares of the Company’s common stock. On May 20, 2015, the U.S. Treasury Department completed an auction to sell certain of its warrant positions, and the Company submitted the winning bid to repurchase an outstanding warrant to purchase 350,767 shares of the Company’s common stock. The Company repurchased this warrant for $1.2 million. As of December 31, 2015, the U.S. Treasury Department held one remaining warrant for the purchase of 19,276 shares of the Company’s common stock. Dividends The Company paid quarterly dividends of $0.11 per common share for the fourth quarter and third quarters of 2015 and $0.10 per common share for the second quarter and first quarters of 2015. The Company paid aggregate dividends of $33.4 million to common shareholders during 2015. The Company paid quarterly dividends of $0.10 per common share for the fourth quarter and third quarters of 2014 and $0.075 per common share for the second quarter and first quarters of 2014. The Company paid aggregate dividends of $27.8 million to common shareholders during 2014. Accumulated Other Comprehensive (Loss) Income The following table presents the changes to accumulated other comprehensive (loss) income at December 31, 2015, 2014, and 2013:
The reclassification adjustments were recognized in net gains on sales of securities available for sale in the consolidated statements of income. |