Common Stock Issuance Common Stock Issuance

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Common Stock Issuance

Common Stock Issuance

On December 6, 2017, the Corporation completed its public offering of 2,645,000 shares of common stock at a price of $28.25 per share, including 345,000 shares of common stock purchased by the underwriters pursuant to their over-allotment option, which was exercised in full. The net proceeds of the offering after deducting underwriting discounts and commissions and offering expenses were $70.5 million. As a result of the stock issuance, common stock increased by $13.2 million and additional paid-in capital increased by $57.3 million.