XML 128 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8

Stockholders' Equity and Earnings per Common Share (Tables)

3 Months Ended

6 Months Ended

Mar. 31, 2014

Jun. 30, 2014

Stockholders' Equity [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

The Company's and the Bank's actual capital amounts and ratios as of June 30, 2014 and December 31, 2013 are as follows:

						Minimum Capital					Minimum to be Well
	Actual					Requirement					Capitalized
	Amount			Ratio		Amount			Ratio			Amount		Ratio
	(Dollars in thousands)
Company Ratios
As of June 30, 2014
Total capital to risk-weighted assets	$	863,790		17.30%		$	399,550		8.00%		$	499,438		10.00%
Tier 1 capital to risk-weighted assets	$	773,824		15.49%		$	199,775		4.00%		$	299,663		6.00%
Tier 1 capital to average total assets	$	773,824		10.26%		$	301,829		4.00%		$	377,286		5.00%
As of December 31, 2013
Total capital to risk-weighted assets	$	827,460		16.16%		$	409,514		8.00%		$	511,893		10.00%
Tier 1 capital to risk-weighted assets	$	736,930		14.35%		$	204,757		4.00%		$	307,136		6.00%
Tier 1 capital to average total assets	$	736,930		9.11%		$	324,910		4.00%		$	406,138		5.00%

						Minimum Capital					Minimum to be Well
	Actual					Requirement					Capitalized
	Amount			Ratio		Amount			Ratio		Amount			Ratio
	(Dollars in thousands)
Bank Ratios
As of June 30, 2014
Total capital to risk-weighted assets	$	812,267		16.34%		$	397,593		8.00%		$	496,991		10.00%
Tier 1 capital to risk-weighted assets	$	722,603		14.54%		$	198,796		4.00%		$	298,195		6.00%
Tier 1 capital to average total assets	$	722,603		9.65%		$	299,657		4.00%		$	374,571		5.00%
As of December 31, 2013
Total capital to risk-weighted assets	$	779,413		15.30%		$	407,637		8.00%		$	509,547		10.00%
Tier 1 capital to risk-weighted assets	$	688,350		13.51%		$	203,819		4.00%		$	305,728		6.00%
Tier 1 capital to average total assets	$	688,350		8.54%		$	322,395		4.00%		$	402,993		5.00%

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The calculation of earnings per common share for the quarters and six-month periods ended June 30, 2014 and 2013 is as follows:

	Quarter ended June 30 ,						Six-Month Period Ended June 30,
	2014			2013			2014			2013
	(In thousands, except per share data)
Net income	$	21,309		$	37,539		$	45,056		$	58,731
Less: Dividends on preferred stock
Non-convertible preferred stock (Series A, B, and D)		(1,628)			(1,628)			(3,256)			(3,256)
Convertible preferred stock (Series C)		(1,838)			(1,838)			(3,675)			(3,675)
Income available to common shareholders	$	17,843		$	34,073		$	38,125		$	51,800
Effect of assumed conversionof the convertible ' ' preferred stock		1,838			1,838			3,675			3,675
Income available to common shareholders assuming conversion	$	19,681		$	35,911		$	41,800		$	55,475
Weighted average common shares and share equivalents:
Average common shares outstanding		45,014			45,630			45,170			45,613
Effect of dilutive securities:
Average potential common shares-options		200			200			168			178
Average potential common shares-assuming ' ' conversion of convertible preferred stock		7,138			7,138			7,138			7,138
Total weighted average common shares ' 'outstanding and equivalents		52,352			52,968			52,476			52,929
Earnings per common share - basic	$	0.40		$	0.75		$	0.84		$	1.14
Earnings per common share - diluted	$	0.38		$	0.68		$	0.80		$	1.05

Schedule of Treasury Stock by Class [Table Text Block]

The following table presents the shares repurchased for each month in the six-month period ended June 30, 2014, excluding the months of March, April, May, and June of 2014, during which no shares were purchased as part of the stock repurchase program:

	Total number of						Dollar amount of
	shares purchased as			Average			shares repurchased
		part of stock		price paid			(excluding
	repurchase programs			per share			commissions paid)
								(In thousands)
Period
January 2014		57,700		$	14.73		$	850
February 2014		649,700		$	14.66		$	9,522
Six-Month Period Ended June 30, 2014		707,400			14.66			10,372

The activity in connection with common shares held in treasury by the Company for the six-month periods ended June 30, 2014 and 2013 is set forth below

	Six-Month Period Ended June 30,
	2014					2013
			Dollar					Dollar
	Shares		Amount			Shares		Amount
	(In thousands, except shares data)
Beginning of period	7,030,101		$	80,642		7,090,597		$	81,275
Common shares used upon lapse of restricted stock units	(30,552)			(323)		(34,800)			(364)
Common shares repurchased as part of the stock repurchase program	707,400			10,393		-			-
Common shares used to match defined contribution plan, net	-			-		(7,318)			(77)
End of period	7,706,949		$	90,712		7,048,479		$	80,834

Schedule of Accumulated Other Comprehensive Income (Loss)

	June 30,			December 31,
	2014			2013
	(In thousands)
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired	$	33,404		$	13,267
Income tax effect of unrealized gain on securities available-for-sale		(3,645)			(1,834)
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired		29,759			11,433
Unrealized loss on cash flow hedges		(10,515)			(10,907)
Income tax effect of unrealized loss on cash flow hedges		2,511			2,665
Net unrealized loss on cash flow hedges		(8,004)			(8,242)
Accumulated other comprehensive income, net of taxes	$	21,755		$	3,191

The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30, 2014 and 2013:

	Quarter Ended June 30,
	2014									2013
	Net unrealized			Net unrealized			Accumulated			Net unrealized			Net unrealized			Accumulated
	gains on			loss on			other			gains on			loss on			other
	securities			cash flow			comprehensive			securities			cash flow			comprehensive
	available-for-sale			hedges			income			available-for-sale			hedges			income
	(In thousands)
Beginning balance	$	16,035		$	(8,013)		$	8,022		$	58,393		$	(11,342)		$	47,051
Other comprehensive income (loss) before reclassifications		13,714			(1,633)			12,081			(33,036)			292			(32,744)
Amounts reclassified out of accumulated other comprehensive income		10			1,642			1,652			43			1,416			1,459
Other comprehensive income (loss)		13,724			9			13,733			(32,993)			1,708			(31,285)
Ending balance	$	29,759		$	(8,004)		$	21,755		$	25,400		$	(9,634)		$	15,766
	Six-Month Period Ended June 30,
	2014									2013
	Net unrealized			Net unrealized			Accumulated			Net unrealized			Net unrealized			Accumulated
	gains on			loss on			other			gains on			loss on			other
	securities			cash flow			comprehensive			securities			cash flow			comprehensive
	available-for-sale			hedges			income			available-for-sale			hedges			income
	(In thousands)
Beginning balance	$	11,433		$	(8,242)		$	3,191		$	68,245		$	(12,365)		$	55,880
Other comprehensive income before reclassifications		18,179			(3,025)			15,154			(42,934)			(21)			(42,955)
Amounts reclassified out of accumulated other comprehensive income		147			3,263			3,410			89			2,752			2,841
Other comprehensive income (loss)		18,326			238			18,564			(42,845)			2,731			(40,114)
Ending balance	$	29,759		$	(8,004)		$	21,755		$	25,400		$	(9,634)		$	15,766

Reclassification out of Accumulated Other Comprehensive Income [Table text block]

	Amount reclassified out of accumulated
	other comprehensive income
		Quarter Ended			Six-Month Period		Affected Line Item in
		June 30, 2014			Ended June 30, 2014		Consolidated Statement
							of Operations
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	1,642		$	3,263		Net interest expense
Available-for-sale securities:
Residual tax effect from OIB's change in applicable tax rate		10			147		Income tax expense
	$	1,652		$	3,410

X

- Details

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

X

- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14A

-URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669686-108580

+ Details

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

X

- Definition

Tabular disclosure of the capital amounts and ratios as of the balance sheet date, indicating whether the entity or entities are in compliance with regulatory capital requirements, by entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 505

-Section 50

-Paragraph 1H

-Subparagraph (c)(2)

-URI http://asc.fasb.org/extlink&oid=7881181&loc=d3e65071-112826



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 505

-Section 50

-Paragraph 1

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958568-112826



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 505

-Section 50

-Paragraph 1B

-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958570-112826



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 505

-Section 50

-Paragraph 1G

-URI http://asc.fasb.org/extlink&oid=7881181&loc=SL5958577-112826

+ Details

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

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

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

X

- Definition

Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6405813&loc=d3e23239-112655



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23309-112656

+ Details

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