Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

v3.20.4
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Preferred Stock
Additional Paid-In Capital
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjustment
Total
Beginning balance at Dec. 31, 2017 $ 57,744   $ 610,001   $ 379,468   $ (884)   $ 1,046,329
Net income         146,248       146,248 [1],[2]
Other comprehensive income (net of taxes)             (9,343)   (9,343)
Issuance of common stock in regard to acquisitions [3] 29,156   765,653           794,809
Dividends on common stock         (58,001)       (58,001)
Issuance of common stock under Equity Compensation Plans 162   2,185           2,347
Issuance of common stock for services rendered 31   883           914
Vesting of restricted stock, net of shares held for taxes, under Equity Compensation Plan 157   (3,065)           (2,908)
Cancellation of warrants     (1,530)           (1,530)
Stock-based compensation expense     6,132           6,132
Ending balance at Dec. 31, 2018 87,250   1,380,259 $ (370) 467,345 $ (46) (10,273) $ (416) 1,924,581
Net income         193,528       193,528 [1],[2]
Other comprehensive income (net of taxes)             45,848   45,848
Issuance of common stock in regard to acquisitions 21,070   478,904           499,974
Dividends on common stock         (78,345)       (78,345)
Stock purchased under stock repurchase plan (2,889)   (77,391)           (80,280)
Issuance of common stock under Equity Compensation Plans 104   1,884           1,988
Issuance of common stock for services rendered 34   876           910
Vesting of restricted stock, net of shares held for taxes, under Equity Compensation Plan 258   (2,559)           (2,301)
Stock-based compensation expense     8,332           8,332
Ending balance at Dec. 31, 2019 105,827   1,790,305 (1,133) 581,395   35,575 (1,133) 2,513,102
Net income         158,228       158,228 [1],[2]
Other comprehensive income (net of taxes)             35,440   35,440
Issuance of preferred stock   $ 173 166,183           166,356
Issuance of common stock in regard to acquisitions                 0
Dividends on common stock         (78,860)       (78,860)
Dividends on preferred stock         (5,658)       (5,658)
Stock purchased under stock repurchase plan (1,985)   (47,894)           (49,879)
Issuance of common stock under Equity Compensation Plans 61   952           1,013
Issuance of common stock for services rendered 40   764           804
Vesting of restricted stock, net of shares held for taxes, under Equity Compensation Plan 226   (2,487)           (2,261)
Stock-based compensation expense     9,258           9,258
Ending balance at Dec. 31, 2020 $ 104,169 $ 173 $ 1,917,081 $ (39,053) $ 616,052   $ 71,015 $ (39,053) $ 2,708,490
[1] Discontinued operations have an immaterial impact to the Company’s Consolidated Statements of Cash Flows. The change in goodwill impairment losses included in the Operating Activities section above are attributable to discontinued operations.
[2] Loans held for sale activity is included in the Operating Activities section above. Due to the increased mortgage related activity during 2020 and 2019, the loans held for sale activity is segregated between originations and purchases of loans held for sale and proceeds from sales of loans held for sale. 2018 loans held for sale activity is included in the change in loans held for sale and is attributable to discontinued operations which has an immaterial impact on the Company’s Consolidated Statements of Cash Flows.
[3] Includes conversion of Xenith warrants to the Company’s warrants.