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Note 18 - Stockholders' Equity | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Equity [Text Block] | 18. Stockholders’ Equity Total equity was $2.64 billion as of September 30, 2023, an increase of $164.7 million, from $2.47 billion as of December 31, 2022, primarily due to net income of $271.6 million, stock-based compensation of $4.9 million, proceeds from dividend reinvestment of $2.7 million, and stock issued to directors of $0.8 million, offset by, common stock cash dividends of $73.9 million, other comprehensive loss of $21.2 million, purchases of treasury stock of $16.7 million, and shares withheld related to net share settlement of RSUs of $3.5 million. Activity in accumulated other comprehensive income/(loss), net of tax, and reclassification out of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2023, and June 30, 2022, was as follows:
|  | Three Months Ended September 30, 2023 |  |  | Three Months Ended September 30, 2022 |
|  | 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 |  |  |  |  |  |  |  |  |  | $ | (100,704 | ) |  |  |  |  |  |  |  |  |  | $ | (72,210 | )
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  | 1,655 |  |  |  |  |  |  |  |  |  |  |  | 882 |
Total |  |  |  |  |  |  |  |  |  | $ | (99,049 | ) |  |  |  |  |  |  |  |  |  | $ | (71,328 | )
Net unrealized gains/(losses) arising during the period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  | $ | (34,133 | ) |  | $ | (10,090 | ) |  | $ | (24,043 | ) |  | $ | (61,316 | ) |  | $ | (18,125 | ) |  | $ | (43,191 | )
Cash flow hedge derivatives |  |  | (626 | ) |  |  | (185 | ) |  |  | (441 | ) |  |  | 2,677 |  |  |  | 791 |  |  |  | 1,886 |
Total |  | $ | (34,759 | ) |  | $ | (10,275 | ) |  | $ | (24,484 | ) |  | $ | (58,639 | ) |  | $ | (17,334 | ) |  | $ | (41,305 | )
Reclassification adjustment for net losses in net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (342 | ) |  |  | (101 | ) |  |  | (241 | )
Total |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (342 | ) |  |  | (101 | ) |  |  | (241 | )
Total other comprehensive income/(loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  | $ | (34,133 | ) |  | $ | (10,090 | ) |  | $ | (24,043 | ) |  | $ | (61,316 | ) |  | $ | (18,125 | ) |  | $ | (43,191 | )
Cash flow hedge derivatives |  |  | (626 | ) |  |  | (185 | ) |  |  | (441 | ) |  |  | 2,335 |  |  |  | 690 |  |  |  | 1,645 |
Total |  | $ | (34,759 | ) |  | $ | (10,275 | ) |  | $ | (24,484 | ) |  | $ | (58,981 | ) |  | $ | (17,435 | ) |  | $ | (41,546 | )
Ending balance, gain/(loss), net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |  |  |  | $ | (124,747 | ) |  |  |  |  |  |  |  |  |  | $ | (115,401 | )
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  | 1,214 |  |  |  |  |  |  |  |  |  |  |  | 2,527 |
Total |  |  |  |  |  |  |  |  |  | $ | (123,533 | ) |  |  |  |  |  |  |  |  |  | $ | (112,874 | )
|  | Nine Months Ended September 30, 2023 |  |  | Nine Months Ended September 30, 2022 |
|  | 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 |  |  |  |  |  |  |  |  |  | $ | (104,832 | ) |  |  |  |  |  |  |  |  |  | $ | 211 |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  | 2,537 |  |  |  |  |  |  |  |  |  |  |  | (3,276 | )
Total |  |  |  |  |  |  |  |  |  | $ | (102,295 | ) |  |  |  |  |  |  |  |  |  | $ | (3,065 | )
Net unrealized gains/(losses) arising during the period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  | $ | (28,272 | ) |  | $ | (8,357 | ) |  | $ | (19,915 | ) |  | $ | (164,128 | ) |  | $ | (48,516 | ) |  | $ | (115,612 | )
Cash flow hedge derivatives |  |  | (1,878 | ) |  |  | (555 | ) |  |  | (1,323 | ) |  |  | 11,060 |  |  |  | 3,269 |  |  |  | 7,791 |
Total |  | $ | (30,150 | ) |  | $ | (8,912 | ) |  | $ | (21,238 | ) |  | $ | (153,068 | ) |  | $ | (45,247 | ) |  | $ | (107,821 | )
Reclassification adjustment for net losses in net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,822 | ) |  |  | (834 | ) |  |  | (1,988 | )
Total |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,822 | ) |  |  | (834 | ) |  |  | (1,988 | )
Total other comprehensive income/(loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  | $ | (28,272 | ) |  | $ | (8,357 | ) |  | $ | (19,915 | ) |  | $ | (164,128 | ) |  | $ | (48,516 | ) |  | $ | (115,612 | )
Cash flow hedge derivatives |  |  | (1,878 | ) |  |  | (555 | ) |  |  | (1,323 | ) |  |  | 8,238 |  |  |  | 2,435 |  |  |  | 5,803 |
Total |  | $ | (30,150 | ) |  | $ | (8,912 | ) |  | $ | (21,238 | ) |  | $ | (155,890 | ) |  | $ | (46,081 | ) |  | $ | (109,809 | )
Ending balance, gain/(loss), net of tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale |  |  |  |  |  |  |  |  |  | $ | (124,747 | ) |  |  |  |  |  |  |  |  |  | $ | (115,401 | )
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  | 1,214 |  |  |  |  |  |  |  |  |  |  |  | 2,527 |
Total |  |  |  |  |  |  |  |  |  | $ | (123,533 | ) |  |  |  |  |  |  |  |  |  | $ | (112,874 | )

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