Note 19 - Stockholders' Equity

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

19.

Stockholders’ Equity

Total equity was

$2.16

billion as of

March 31, 2019,

an increase of

$41.5

million, from

$2.12

billion as of

December 31, 2018,

primarily due to net income of

$66.7

million, increases in other comprehensive income of

$7.6

million, and proceeds from dividend reinvestment of

$835

thousand, and partially offset by common stock cash dividends of

$25.0

million and purchases of treasury stock of

$8.6

million.

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

three

months ended

March 31, 2019,

and

March 31, 2018,

was as follows:

	Three months ended March 31, 2019									Three months ended March 31, 2018
	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							$	(17,765	)							$	(1,060	)
Cash flow hedge derivatives								(241	)								(1,451	)
Total							$	(18,006	)							$	(2,511	)
Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1)
Securities available-for-sale	$	—		$	—		$	—		$	—		$	200		$	(200	)
Cash flow hedge derivatives		—			—			—			—			315			(315	)
Total	$	—		$	—		$	—		$	—		$	515		$	(515	)
Reclassification adjustment for equity securities (2)
Equity securities	$	—		$	—		$	—		$	(12,151	)	$	(3,592	)	$	(8,559	)
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	12,491		$	3,692		$	8,799		$	(16,346	)	$	(4,832	)	$	(11,514	)
Cash flow hedge derivatives		(1,738	)		(514	)		(1,224	)		3,113			920			2,193
Total	$	10,753		$	3,178		$	7,575		$	(13,233	)	$	(3,912	)	$	(9,321	)
Total other comprehensive income/(loss)
Securities available-for-sale	$	12,491		$	3,692		$	8,799		$	(16,346	)	$	(4,832	)	$	(11,514	)
Cash flow hedge derivatives		(1,738	)		(514	)		(1,224	)		3,113			920			2,193
Total	$	10,753		$	3,178		$	7,575		$	(13,233	)	$	(3,912	)	$	(9,321	)
Ending balance, (loss)/gain, net of tax
Securities available-for-sale							$	(8,966	)							$	(21,333	)
Cash flow hedge derivatives								(1,465	)								427
Total							$	(10,431	)							$	(20,906	)

(

1

) These amounts were recorded as of

January 1, 2018

as a result of the adoption of ASU

2018

-

2.

(

2

) This amount was recorded as of

January 1, 2018

as a result of the adoption of ASU

2016

-

1.