Holding Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information Of Parent Company Only Disclosure Abstract

CondensedConsolidatingBalanceSheetTableTextBlock


	December 31,
	2016		2015
	(In thousands)
ASSETS
Cash and cash equivalents	$	22,573	$	20,240
Investment securities available-for-sale, at fair value		-		6,017
Investment in bank subsidiary, equity method		920,085		890,449
Investment in nonbank subsidiaries, equity method		18,427		19,137
Due from bank subsidiary,net		92		119
Deferred tax asset, net		2,643		3,047
Other assets		2,085		2,042
Total assets	$	965,905	$	941,051
LIABILITIES AND STOCKHOLDERS’ EQUITY
Dividend payable		6,501		6,098
Due to affiliates		237		9
Accrued expenses and other liabilities		2,673		1,784
Subordinated capital notes		36,083		36,083
Total liabilities		45,494		43,974
Stockholders’ equity		920,411		897,077
Total liabilities and stockholders’ equity	$	965,905	$	941,051

CondensedConsolidatingStatementOfOperationsTableTextBlock

	Year Ended December 31,
	2016		2015			2014
	(In thousands)
Income:
Interest income	$	174	$	321	$	404
Gain on sale of securities		211		-		-
Investment trading activities, net and other		4,066		4,007		4,308
Total income		4,451		4,328		4,712
Expenses:
Interest expense		1,370		1,222		1,201
Operating expenses		7,179		6,866		6,607
Total expenses		8,549		8,088		7,808
Income (loss) before income taxes		(4,098)		(3,760)		(3,096)
Income tax (expense) benefit		(518)		3,088		-
Income (loss) before changes in undistributed earnings of subsidiaries		(4,616)		(672)		(3,096)
Equity in undistributed earnings from:
Bank subsidiary		58,580		(3,804)		84,787
Nonbank subsidiaries		5,222		1,972		3,490
Net income (loss)	$	59,186	$	(2,504)	$	85,181

CondensedConsolidatingOtherComprenhensiveIncomeTableTextBlock


	Year ended December 31,
	2016		2015		2014
	(In thousands)
Net income (loss)	$	59,186	$	(2,504)	$	85,181
Other comprehensive (loss) income before tax:
Unrealized gain (loss) on securities available-for-sale		(204)		(170)		209
Other comprehensive income from bank subsidiary		(12,238)		(5,578)		16,361
Other comprehensive (loss) income before taxes		(12,442)		(5,748)		16,570
Income tax effect		41		34		(50)
Other comprehensive (loss) income after taxes		(12,401)		(5,714)		16,520
Comprehensive income (loss)	$	46,785	$	(8,218)	$	101,701

CondensedConsolidatingStatementOfCashFlowsTableTextBlock


	Year Ended December 31,
	2016		2015		2014
	(In thousands)
Cash flows from operating activities:
Net income (loss)	$	59,186	$	(2,504)	$	85,181
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in undistributed earnings from banking subsidiary		(58,580)		3,804		(84,787)
Equity in undistributed earnings from nonbanking subsidiaries		(5,222)		(1,972)		(3,490)
Amortization of investment securities premiums, net of accretion of discounts		12		44		21
Realized gain on sale of securities		211		-		-
Other impairments on securities		-		-		62
Stock-based compensation		1,270		1,637		1,036
Deferred income tax, net		444		(3,088)		-
Net decrease in other assets		42		148		554
Net (decrease) in accrued expenses, other liabilities, and dividend payable		800		(221)		(696)
Dividends from banking subsidiary		17,600		45,000		28,000
Dividends from non-banking subsidiary		6,000		-		5,900
Net cash provided by operating activities		21,763		42,848		31,781
Cash flows from investing activities:
Maturities and redemptions of investment securities available-for-sale		702		2,013		1,318
Proceeds from sales of investment securities available-for-sale		4,888		-		-
Net (increase) decrease in due from bank subsidiary, net		317		317		(218)
Proceeds from sales of premises and equipment		324		-		-
Capital contribution to banking subsidiary		(894)		(1,167)		(892)
Capital contribution to non-banking subsidiary		(68)		(94)		(76)
Additions to premises and equipment		(381)		(132)		-
Net cash provided by investing activities		4,888		937		132
Cash flows from financing activities:
Proceeds from (payments to) exercise of stock options and lapsed restricted units, net		(315)		204		643
Purchase of treasury stock		-		(8,950)		(16,948)
Dividends paid		(24,003)		(31,623)		(28,341)
Net cash used in financing activities		(24,318)		(40,369)		(44,646)
Net change in cash and cash equivalents		2,333		3,416		(12,733)
Cash and cash equivalents at beginning of year		20,240		16,824		29,557
Cash and cash equivalents at end of year	$	22,573	$	20,240	$	16,824