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Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Series C Preferred Stock
Total
Total
Series C Preferred Stock
Preferred Stock
Common Stock
Additional Paid-in Capital
Retained Earnings
Retained Earnings
Series C Preferred Stock
Accumulated Other Comprehensive Income (Loss)
Other
Non-controlling Interest
Cumulative Effect, Period of Adoption, Adjustment
[1]
Cumulative Effect, Period of Adoption, Adjustment
Total
[1]
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
[1]
Cumulative Effect, Period of Adoption, Adjustment
Non-controlling Interest
[1]
Cumulative Effect, Period of Adoption, Adjusted Balance
Cumulative Effect, Period of Adoption, Adjusted Balance
Total
Cumulative Effect, Period of Adoption, Adjusted Balance
Preferred Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-in Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Other
Cumulative Effect, Period of Adoption, Adjusted Balance
Non-controlling Interest
Balance (in shares) at Dec. 31, 2018         7,000 88,198,460                                      
Balance at Dec. 31, 2018 $ 2,556,260   $ 2,537,801   $ 169,302 $ 88,198 $ 798,627 $ 1,766,994   $ (33,138) $ (252,182) $ 18,459                          
Increase (Decrease) in Equity                                                  
Income after income tax (benefit) expense 192,470   183,069         183,069       9,401                          
Other comprehensive income (loss), net of tax 89,366   89,366             89,366                              
Reverse merger with Chemical Financial Corporation (in shares)           65,539,678                                      
Reverse merger with Chemical Financial Corporation 3,018,556   3,018,556     $ 65,540 2,687,153       265,863                            
Net investment by (distribution to) non-controlling interest $ (4,547)                     (4,547)                          
Repurchases of shares of common stock (in shares) (1,453,908)                                                
Repurchases of shares of common stock $ (58,805)   (58,805)               (58,805)                            
Dividends on 5.70% Series C Preferred Stock   $ (7,481)   $ (7,481)       (7,481)                                  
Dividends on common stock (102,368)   (102,368)         (102,368)                                  
Stock compensation plans, net of tax (in shares)           (166,757)                                      
Stock compensation plans, net of tax 9,966   9,966     $ (167) (5,626)       15,759                            
Change in shares held in trust for deferred compensation plans, at cost             (1,995)       1,995                            
Balance (in shares) at Sep. 30, 2019         7,000 153,571,381                                      
Balance at Sep. 30, 2019 5,693,417   5,670,104   $ 169,302 $ 153,571 3,478,159 1,840,214   56,228 (27,370) 23,313                          
Balance (in shares) at Jun. 30, 2019         7,000 87,943,860                                      
Balance at Jun. 30, 2019 2,710,517   2,685,659   $ 169,302 $ 87,944 781,788 1,874,308   37,334 (265,017) 24,858                          
Increase (Decrease) in Equity                                                  
Income after income tax (benefit) expense 24,978   22,148         22,148       2,830                          
Other comprehensive income (loss), net of tax 18,894   18,894             18,894                              
Reverse merger with Chemical Financial Corporation (in shares)           65,539,678                                      
Reverse merger with Chemical Financial Corporation 3,018,556   3,018,556     $ 65,540 2,687,153       265,863                            
Net investment by (distribution to) non-controlling interest $ (4,375)                     (4,375)                          
Repurchases of shares of common stock (in shares) (780,716)                                                
Repurchases of shares of common stock $ (32,310)   (32,310)               (32,310)                            
Dividends on 5.70% Series C Preferred Stock   (2,494)   (2,494)         $ (2,494)                                
Dividends on common stock (53,748)   (53,748)         (53,748)                                  
Stock compensation plans, net of tax (in shares)           87,843                                      
Stock compensation plans, net of tax 13,399   13,399     $ 87 13,070       242                            
Change in shares held in trust for deferred compensation plans, at cost             (3,852)       3,852                            
Balance (in shares) at Sep. 30, 2019         7,000 153,571,381                                      
Balance at Sep. 30, 2019 5,693,417   5,670,104   $ 169,302 $ 153,571 3,478,159 1,840,214   56,228 (27,370) 23,313                          
Balance (in shares) at Dec. 31, 2019         7,000 152,965,571                         7,000 152,965,571          
Balance at Dec. 31, 2019 5,727,241   5,707,015   $ 169,302 $ 152,966 3,462,080 1,896,427   54,277 (28,037) 20,226 $ (159,249) $ (159,323) $ (159,323) $ 74 $ 5,567,992 $ 5,547,692 $ 169,302 $ 152,966 $ 3,462,080 $ 1,737,104 $ 54,277 $ (28,037) $ 20,300
Increase (Decrease) in Equity                                                  
Income after income tax (benefit) expense 137,351   131,401         131,401       5,950                          
Other comprehensive income (loss), net of tax 137,494   137,494             137,494                              
Net investment by (distribution to) non-controlling interest $ (4,874)                     (4,874)                          
Repurchases of shares of common stock (in shares) (873,376)         (873,376)                                      
Repurchases of shares of common stock $ (33,098)   (33,098)     $ (873) (32,225)                                    
Dividends on 5.70% Series C Preferred Stock   (7,481)   (7,481)       (7,481)                                  
Dividends on common stock (160,980)   (160,980)         (160,980)                                  
Stock compensation plans, net of tax (in shares)           287,527                                      
Stock compensation plans, net of tax 22,016   22,016     $ 287 21,729                                    
Change in shares held in trust for deferred compensation plans, at cost             (915)       915                            
Balance (in shares) at Sep. 30, 2020         7,000 152,379,722                                      
Balance at Sep. 30, 2020 5,658,420   5,637,044   $ 169,302 $ 152,380 3,450,669 1,700,044   191,771 (27,122) 21,376                          
Balance (in shares) at Jun. 30, 2020         7,000 152,233,106                                      
Balance at Jun. 30, 2020 5,658,555   5,635,255   $ 169,302 $ 152,233 3,441,925 1,700,480   198,408 (27,093) 23,300                          
Increase (Decrease) in Equity                                                  
Income after income tax (benefit) expense 57,302   55,738         55,738       1,564                          
Other comprehensive income (loss), net of tax (6,637)   (6,637)         0   (6,637)   0                          
Net investment by (distribution to) non-controlling interest $ (3,488)                     (3,488)                          
Repurchases of shares of common stock (in shares) 0                                                
Dividends on 5.70% Series C Preferred Stock   $ (2,494)   $ (2,494)         $ (2,494)                                
Dividends on common stock $ (53,680)   (53,680)         (53,680)                                  
Stock compensation plans, net of tax (in shares)           146,616                                      
Stock compensation plans, net of tax 8,862   8,862     $ 147 8,715       0                            
Change in shares held in trust for deferred compensation plans, at cost             29       (29)                            
Balance (in shares) at Sep. 30, 2020         7,000 152,379,722                                      
Balance at Sep. 30, 2020 $ 5,658,420   $ 5,637,044   $ 169,302 $ 152,380 $ 3,450,669 $ 1,700,044   $ 191,771 $ (27,122) $ 21,376                          
[1] See "Note 3. Summary of Significant Accounting Policies" for further information