Note 16 - Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

1

6

.

Stockholders’ Equity

Total equity was $

1.9

billion as of

March

31,

2017,

an increase of

$29.4

million, from

$1.8

billion as of

December

31,

2016,

primarily due to net income of

$48.9

million partially offset by common stock cash dividends of

$16.8

million and shares withheld related to net share settlement of RSUs of

$5.1

million.

The U.S. Treasury received warrants to purchase common stock of

1,846,374

shares at an exercise price of

$20.96

as part of the Company

’s participation in the U.S. Treasury Troubled Asset Relief Program Capital Purchase Program. As a result of the anti-dilution adjustments under the warrant, the exercise price at

December

31,

2016

has been adjusted to

$20.65

and the number of warrants increased by

1.5%.

At

March

31,

2017

and

December

31,

2016,

943,345

warrants remain exercisable.

Activity

in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the

three

months ended

March

31,

2017,

and

March

31,

2016,

was as follows:

	Three months ended March 31, 2017									Three months ended March 31, 2016
	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							$	(1,545	)							$	(5,431	)
Cash flow hedge derivatives								(2,170	)								(2,995	)
Total							$	(3,715	)							$	(8,426	)
Net unrealized (losses)/gains arising during the period
Securities available-for-sale	$	(856	)	$	(360	)	$	(496	)	$	17,863		$	7,509		$	10,354
Cash flow hedge derivatives		516			217			299			(5,383	)		(2,263	)		(3,120	)
Total		(340	)		(143	)		(197	)		12,480			5,246		$	7,234
Reclassification adjustment for net losses in net income
Securities available-for-sale		466			196			270			206			87			119
Cash flow hedge derivatives		-			-			-			-			-			-
Total		466			196			270			206			87			119
Total other comprehensive (loss)/income
Securities available-for-sale		(390	)		(164	)		(226	)		18,069			7,596			10,473
Cash flow hedge derivatives		516			217			299			(5,383	)		(2,263	)		(3,120	)
Total	$	126		$	53		$	73		$	12,686		$	5,333		$	7,353
Ending balance, (loss)/gain, net of tax
Securities available-for-sale							$	(1,771	)							$	5,042
Cash flow hedge derivatives								(1,871	)								(6,115	)
Total							$	(3,642	)							$	(1,073	)