Note 19 - Stockholders' Equity

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

19. Stockholders’ Equity

Total equity was $2.31 billion as of March 31, 2020, an increase of $18.8 million, from $2.29 billion as of December 31, 2019, primarily due to net income of $46.9 million, increases in other comprehensive income of $7.6 million, and proceeds from dividend reinvestment of $846 thousand, and partially offset by common stock cash dividends of $24.7 million and repurchases of the Company’s common stock of $12.9 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, 2020, and March 31, 2019, was as follows:

	Three months ended March 31, 2020									Three months ended March 31, 2019
	Pre-tax			Tax expense/ (benefit)			Net-of-tax			Pre-tax			Tax expense/ (benefit)			Net-of-tax
Beginning balance, gain/(loss), net of tax	(In thousands)
Securities available-for-sale							$	5,714								$	(17,765	)
Cash flow hedge derivatives								(3,412	)								(241	)
Total							$	2,302								$	(18,006	)
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	16,833		$	4,976		$	11,857		$	12,491		$	3,692		$	8,799
Cash flow hedge derivatives		(6,073	)		(1,795	)		(4,278	)		(1,738	)		(514	)		(1,224	)
Total	$	10,760		$	3,181		$	7,579		$	10,753		$	3,178		$	7,575
Reclassification adjustment for net losses in net income
Securities available-for-sale		(6	)		(2	)		(4	)		—			—			—
Cash flow hedge derivatives		—			—			—			—			—			—
Total		(6	)		(2	)		(4	)		—			—			—
Total other comprehensive income/(loss)
Securities available-for-sale	$	16,827		$	4,974		$	11,853		$	12,491		$	3,692		$	8,799
Cash flow hedge derivatives		(6,073	)		(1,795	)		(4,278	)		(1,738	)		(514	)		(1,224	)
Total	$	10,754		$	3,179		$	7,575		$	10,753		$	3,178		$	7,575
Ending balance, gain/(loss), net of tax
Securities available-for-sale							$	17,567								$	(8,966	)
Cash flow hedge derivatives								(7,690	)								(1,465	)
Total							$	9,877								$	(10,431	)