Note 18 - Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

18. Stockholders’ Equity

Total equity was $2.46 billion as of March 31, 2021, an increase of $45.1 million, from $2.42 billion as of December 31, 2020, primarily due to net income of $73.4 million, and proceeds from dividend reinvestment of $868 thousand, and partially offset by common stock cash dividends of $24.6 million and a decrease in other comprehensive income of $3.6 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, 2021, and March 31, 2020, was as follows:

	Three months ended March 31, 2021									Three months ended March 31, 2020
	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							$	12,200								$	5,714
Cash flow hedge derivatives								(6,890	)								(3,412	)
Total							$	5,310								$	2,302
Net unrealized gains/(losses) arising during the period
Securities available-for-sale	$	(6,085	)	$	(1,799	)	$	(4,286	)	$	16,833		$	4,976		$	11,857
Cash flow hedge derivatives		1,793			530			1,263			(6,073	)		(1,795	)		(4,278	)
Total	$	(4,292	)	$	(1,269	)	$	(3,023	)	$	10,760		$	3,181		$	7,579
Reclassification adjustment for net losses in net income
Securities available-for-sale		(853	)		(252	)		(601	)		(6	)		(2	)		(4	)
Cash flow hedge derivatives		—			—			—			—			—			—
Total		(853	)		(252	)		(601	)		(6	)		(2	)		(4	)
Total other comprehensive income/(loss)
Securities available-for-sale	$	(6,938	)	$	(2,051	)	$	(4,887	)	$	16,827		$	4,974		$	11,853
Cash flow hedge derivatives		1,793			530			1,263			(6,073	)		(1,795	)		(4,278	)
Total	$	(5,145	)	$	(1,521	)	$	(3,624	)	$	10,754		$	3,179		$	7,575
Ending balance, gain/(loss), net of tax
Securities available-for-sale							$	7,313								$	17,567
Cash flow hedge derivatives								(5,627	)								(7,690	)
Total							$	1,686								$	9,877