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Divestitures
3 Months Ended
Mar. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Divestitures

14.  Divestitures

 

On November 17, 2017, the Company closed on the sale of all of the outstanding stock of Scout, an institutional investment management subsidiary, for $172.5 million in cash, which was subject to customary post-closing purchase adjustments. The gain recorded on the disposal of Scout was $103.6 million.

This table summarizes the components of loss from discontinued operations, net of taxes, for the three months ended March 31, 2019 and March 31, 2018 presented in the Consolidated Statements of Income (in thousands):

 

 

 

For the Three Months Ended

 

 

 

March 31, 2019

 

 

March 31, 2018

 

Total noninterest income

 

$

 

 

$

 

Total noninterest expense

 

 

 

 

 

917

 

Loss from discontinued operations

 

 

 

 

 

(917

)

Income tax benefit

 

 

 

 

 

(170

)

Net loss on discontinued operations

 

$

 

 

$

(747

)

 

The components of net cash provided by operating activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows (in thousands):

 

 

 

Three Months

 

 

 

Ended March 31,

 

 

 

2019

 

 

2018

 

Loss from discontinued operations

 

$

 

 

$

(747

)

Depreciation and amortization

 

 

 

 

 

 

Net cash used in operating activities of discontinued operations

 

$

 

 

$

(747

)