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Note 17 - Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Equity [Text Block]

17. Stockholders’ Equity

 

Total equity was $2.89 billion as of June 30, 2025, an increase of $40.6 million, from $2.85 billion as of December 31, 2024, primarily due to net income of $147.0 million, other comprehensive income of $16.4 million, stock-based compensation of $2.7 million, proceeds from dividend reinvestment of $1.3 million, and stock issued to directors of $1.0 million, offset by purchase of treasury stock of $77.3 million, common stock cash dividends of $47.7 million, and shares withheld related to net share settlement of RSUs of $2.8 million.

 

Activity in accumulated other comprehensive income/(loss), net of tax, and reclassification out of accumulated other comprehensive income/(loss) for the three and six months ended June 30, 2025, and June 30, 2024, was as follows:

 

  

Three Months Ended June 30, 2025

  

Three Months Ended June 30, 2024

 
  

Pre-tax

  

Tax expense/ (benefit)

  

Net-of-tax

  

Pre-tax

  

Tax expense/ (benefit)

  

Net-of-tax

 
  

(In thousands)

 

Beginning balance, (loss)/gain, net of tax

                        

Securities AFS

         $(71,747)         $(92,612)

Cash flow hedge derivatives

          —           333 

Total

         $(71,747)         $(92,279)
                         

Net unrealized gains/(losses) arising during the period

                        

Securities AFS

 $3,585  $1,060  $2,525  $(636) $(188) $(448)

Cash flow hedge derivatives

  —   —   —   (473)  (140)  (333)

Total

 $3,585  $1,060  $2,525  $(1,109) $(328) $(781)
                         

Reclassification adjustment for net losses in net income

                        

Securities AFS

 $—  $—  $—  $—  $—  $— 

Cash flow hedge derivatives

  —   —   —   —   —   — 

Total

  —   —   —   —   —   — 
                         

Total other comprehensive income/(loss)

                        

Securities AFS

 $3,585  $1,060  $2,525  $(636) $(188) $(448)

Cash flow hedge derivatives

  —   —   —   (473)  (140)  (333)

Total

 $3,585  $1,060  $2,525  $(1,109) $(328) $(781)
                         

Ending balance, (loss)/gain, net of tax

                        

Securities AFS

         $(69,222)         $(93,060)

Cash flow hedge derivatives

          —           — 

Total

         $(69,222)         $(93,060)

 

  

Six Months Ended June 30, 2025

  

Six Months Ended June 30, 2024

 
  

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 AFS

         $(85,607)         $(86,190)

Cash flow hedge derivatives

          —           774 

Total

         $(85,607)         $(85,416)
                         

Net unrealized gains/(losses) arising during the period

                        

Securities AFS

 $23,261  $6,876  $16,385  $(9,753) $(2,883) $(6,870)

Cash flow hedge derivatives

  —   —   —   (1,099)  (325)  (774)

Total

 $23,261  $6,876  $16,385  $(10,852) $(3,208) $(7,644)
                         

Reclassification adjustment for net losses in net income

                        

Securities AFS

 $—  $—  $—  $—  $—  $— 

Cash flow hedge derivatives

  —   —   —   —   —   — 

Total

  —   —   —   —   —   — 
                         

Total other comprehensive income/(loss)

                        

Securities AFS

 $23,261  $6,876  $16,385  $(9,753) $(2,883) $(6,870)

Cash flow hedge derivatives

  —   —   —   (1,099)  (325)  (774)

Total

 $23,261  $6,876  $16,385  $(10,852) $(3,208) $(7,644)
                         

Ending balance, gain/(loss), net of tax

                        

Securities AFS

         $(69,222)         $(93,060)

Cash flow hedge derivatives

          —           — 

Total

         $(69,222)         $(93,060)