XML 24 R14.htm IDEA: XBRL DOCUMENT v3.21.2

Shareholders' Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Shareholders' Equity [Text Block]

Shareholders' Equity

On August 3, 2021, the Company declared a quarterly cash dividend of $0.52 per common share payable on or about August 26, 2021 to shareholders of record as of August 16, 2021.

Dividends declared were $0.52 and $1.04 per share during the three and six months ended June 30, 2021 and $0.51 and 1.02 per share during the three and six months ended June 30, 2020.

Accumulated Other Comprehensive Income (Loss)

AOCI includes unrealized gains and losses on available for sale ("AFS") securities and non-credit related unrealized losses on AFS securities for which an other-than-temporary impairment has been recorded in earnings. Unrealized losses on employee benefit plans will be reclassified into income as pension plan costs are recognized over the remaining service period of plan participants. Gains and losses in AOCI are net of deferred income taxes.

A rollforward of the components of accumulated other comprehensive income (loss) is included as follows (in thousands):

						Unrealized Gain (Loss) on
						Available for Sale Securities						Employee Benefit Plans												Total
Balance, Dec. 31, 2019						$	104,996					$	(73)											$	104,923
Net change in unrealized gain (loss)						354,765						—												354,765
Reclassification adjustments included in earnings:
Gain on available for sale securities, net						(5,583)						—												(5,583)
Other comprehensive income, before income taxes						349,182						—												349,182
Federal and state income taxes						83,789						—												83,789
Other comprehensive income, net of income taxes						265,393						—												265,393
Balance, June 30, 2020						$	370,389					$	(73)											$	370,316
Balance, Dec. 31, 2020						$	335,032					$	836											$	335,868
Net change in unrealized gain (loss)						(141,651)						—												(141,651)
Reclassification adjustments included in earnings:
Gain on available for sale securities, net						(1,897)						—												(1,897)
Other comprehensive income, before income taxes						(143,548)						—												(143,548)
Federal and state income taxes						(34,448)						—												(34,448)
Other comprehensive income (loss), net of income taxes						(109,100)						—												(109,100)
Balance, June 30, 2021						$	225,932					$	836											$	226,768

X

- References

No definition available.

+ Details

Name:	us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

+ Details

Name:	us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration