Note 16 - Stockholders' Equity

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

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6

. Stockholders’ Equity

Total equity was $1.79 billion as of September 30, 2016, an increase of $45.7 million, from $1.75 billion as of December 31, 2015, primarily due to net income of $127.1 million and other comprehensive income of $10.3 million offset by purchases of treasury stock of $54.4 million and common stock cash dividends of $42.6 million.

Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three months and nine months ended September 30, 2016, and September 30, 2015, was as follows:

	Three months ended September 30, 2016									Three months ended September 30, 2015
	Pre-tax			Tax expense/ (benefit)			Net-of-tax			Pre-tax			Tax expense/ (benefit)			Net-of-tax
	(In thousands)
Beginning balance, gain/(loss), net of tax
Securities available-for-sale							$	8,539								$	(1,125	)
Cash flow hedge derivatives								(7,397	)								(1,657	)
Total							$	1,142								$	(2,782	)
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	1,618		$	680		$	938		$	4,717		$	1,984		$	2,733
Cash flow hedge derivatives		1,387			583			804			(4,413	)		(1,855	)		(2,558	)
Total		3,005			1,263			1,742			304			129		$	175
Reclassification adjustment for net (gains)/losses in net income
Securities available-for-sale		(1,692	)		(711	)		(981	)		16			6			10
Cash flow hedge derivatives		-			-			-			-			-			-
Total		(1,692	)		(711	)		(981	)		16			6			10
Total other comprehensive income/(loss)
Securities available-for-sale		(74	)		(31	)		(43	)		4,733			1,990			2,743
Cash flow hedge derivatives		1,387			583			804			(4,413	)		(1,855	)		(2,558	)
Total	$	1,313		$	552		$	761		$	320		$	135		$	185
Ending balance, gain/(loss), net of tax
Securities available-for-sale							$	8,496								$	1,618
Cash flow hedge derivatives								(6,593	)								(4,215	)
Total							$	1,903								$	(2,597	)

	Nine months ended September 30, 2016									Nine months ended September 30, 2015
	Pre-tax			Tax expense/ (benefit)			Net-of-tax			Pre-tax			Tax expense/ (benefit)			Net-of-tax
	(In thousands)
Beginning balance, loss, net of tax
Securities available-for sale							$	(5,431	)							$	(3,172	)
Cash flow hedge derivatives								(2,995	)								(2,397	)
Total							$	(8,426	)							$	(5,569	)
Net unrealized gains/(losses) arising during the period
Securities available-for sale	$	27,170		$	11,422		$	15,748		$	4,895		$	2,058		$	2,837
Cash flow hedge derivatives		(6,208	)		(2,610	)		(3,598	)		(3,137	)		(1,319	)		(1,818	)
Total		20,962			8,812			12,150			1,758			739		$	1,019
Reclassification adjustment for net (gains)/losses in net income
Securities available-for sale		(3,141	)		(1,320	)		(1,821	)		3,369			1,416			1,953
Cash flow hedge derivatives		-			-			-			-			-			-
Total		(3,141	)		(1,320	)		(1,821	)		3,369			1,416			1,953
Total other comprehensive income/(loss)
Securities available-for sale		24,029			10,102			13,927			8,264			3,474			4,790
Cash flow hedge derivatives		(6,208	)		(2,610	)		(3,598	)		(3,137	)		(1,319	)		(1,818	)
Total	$	17,821		$	7,492		$	10,329		$	5,127		$	2,155		$	2,972
Ending balance, gain/(loss), net of tax
Securities available-for sale							$	8,496								$	1,618
Cash flow hedge derivatives								(6,593	)								(4,215	)
Total							$	1,903								$	(2,597	)