XML 56 R39.htm IDEA: XBRL DOCUMENT v3.20.4
Shareholders' Equity and Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Change in Preferred and Common Shares Issued and Common Shares Held as Treasury Shares
The following table shows the changes in shares of preferred and common stock issued and common stock held as treasury shares for the years ended December 31, 2020, 2019, and 2018.
 
 
(shares in thousands)
Series C Preferred Stock Issued (Redeemed)Series D Preferred Stock Issued Series E Preferred Stock IssuedTotal Preferred Stock Issued (Redeemed)Common Stock IssuedTreasury Stock HeldCommon Stock Outstanding
Balance at December 31, 20175,200 — — 5,200 142,678 23,781 118,897 
Issuance of preferred stock— 8,000 — 8,000 — — — 
Redemption of preferred stock(5,200)— — (5,200)— — — 
Issuance of common stock for earnout payment— — — — 199 — 199 
Restricted share unit activity— — — — 297 — 297 
Stock options exercised— — — — 126 — 126 
Repurchase of common stock— — — — — 3,653 (3,653)
Balance at December 31, 2018— 8,000 — 8,000 143,300 27,434 115,866 
FCB acquisition:
Issuance of common stock for acquisition— — — — 22,043 — 22,043 
Common stock reissued— — — — — (27,434)27,434 
Warrants exercised and common stock reissued— — — — — (260)260 
Issuance of preferred stock— — 14,000 14,000 — — — 
Issuance of common stock for earnout payment— — — — 344 — 344 
Restricted share unit activity— — — — 302 — 302 
Stock options exercised— — — — 812 — 812 
Repurchase of common stock— — — — — 19,903 (19,903)
Balance at December 31, 2019— 8,000 14,000 22,000 166,801 19,643 147,158 
Issuance of common stock for earnout payment— — — — 379 — 379 
Restricted share unit activity— — — — 389 — 389 
Stock options exercised— — — — 564 — 564 
Repurchase of common stock— — — — — 450 (450)
Balance at December 31, 2020— 8,000 14,000 22,000 168,133 20,093 148,040 
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) The following table illustrates activity within the balances in AOCI by component, and is shown for the years ended December 31, 2020, 2019, and 2018.
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)
Net Unrealized Gains (Losses) on Investment Securities Available for Sale(1)
Net Unrealized Gains (Losses) on Cash Flow Hedges(1)
Post-Retirement Unfunded Health BenefitTotal
Balance at December 31, 2017$(43,470)$(12,137)$853 $(54,754)
Other comprehensive loss before reclassifications(33,023)— (34)(33,057)
Amounts reclassified from accumulated other comprehensive income (loss)960 — (98)862 
Net current period other comprehensive income (loss)(32,063)— (132)(32,195)
Reclassification from adoption of ASU 2018-02(7,763)— 175 (7,588)
Cumulative-effect adjustment from adoption of ASU 2016-01117 — — 117 
Balance at December 31, 2018$(83,179)$(12,137)$896 $(94,420)
Other comprehensive income (loss) before reclassifications161,170 (6,350)(378)154,442 
Amounts reclassified from accumulated other comprehensive income (loss)5,675 — (56)5,619 
Net current period other comprehensive income (loss)166,845 (6,350)(434)160,061 
Balance at December 31, 2019$83,666 $(18,487)$462 $65,641 
Other comprehensive income (loss) before reclassifications80,491 73,502 — 153,993 
Amounts reclassified from accumulated other comprehensive income (loss)(58,488)(2,049)(462)(60,999)
Net current period other comprehensive income (loss)22,003 71,453 (462)92,994 
Balance at December 31, 2020$105,669 $52,966 $— $158,635 
(1)    For all periods presented, the ending balance in net unrealized gains (losses) on investment securities available for sale and cash flow hedges includes unrealized losses of $13.3 million and $12.1 million, respectively, related to residual tax effects remaining in OCI due to previously established deferred tax asset valuation allowances in 2010 and 2011. In accordance with ASC 740-20-45-11(b), under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed.