EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME (LOSS)

The Company's total equity was $149.2 million and $134.8 million at September 30, 2018 and December 31, 2017, respectively.

Common stock dividend: On March 20, 2018, the Company declared a quarterly cash dividend of $0.12 per share to the common shareholders of record as of April 13, 2018 and paid the dividend on April 27, 2018. On June 26, 2018, the Company declared a cash dividend $0.14 per share for the second quarter 2018 to the common shareholders of record as of July 13, 2018. The dividend was paid on July 27, 2018. On September 25, 2018, the Company declared a cash dividend $0.14 per share for the third quarter 2018 to the common shareholders of record as of October 12, 2018. The dividend was paid on October 26, 2018.

Stock dividend: On April 17, 2018, the Company declared an 11 for 10 stock split to shareholders of record as of May 5, 2018. The stock split was accounted for as stock dividend and was effective on May 18, 2018.

Conversion of preferred stock: During the nine months ended September 30, 2018, preferred stock holders converted 12,554 shares of preferred shares into 1,569,535 shares of common shares before considering the effect of the stock dividend.

Non-controlling interests: The Company has a joint venture with Bridgestone Capital LLC in PDL LLC, a joint venture formed in 2018 to originate short-term alternative real estate loan products. The Company has a 51% ownership interest in the joint venture. During the nine months ended September 30, 2018, the Bridgestone Capital LLC made a $1.2 million capital contribution to PDL.

The changes in accumulated other comprehensive income (loss) consisted of the following for the three months and nine months ended September 30, 2018 and 2017:



	For the Three Months Ended September 30,
	2018			2017
	(amounts in thousands)
Investment securities:
Non-credit related net unrealized gains (losses) on OTTI securities	$	—		$	4
Unrealized gains (losses) on non-OTTI securities	(218		)	111
Tax impact on unrealized gain (loss)	54			(46		)
Reclassification of stranded tax effects	—			—
Other comprehensive income (loss)	$	(164	)	$	69



	For the Nine Months Ended September 30,
	2018			2017
	(amounts in thousands)
Investment securities:
Non-credit related net unrealized gains (losses) on OTTI securities	$	—		$	22
Unrealized gains (losses) on non-OTTI securities	(1,062		)	322
Tax impact on unrealized gain (loss)	258			(138		)
Reclassification of stranded tax effects	(27		)	—
Other comprehensive income (loss)	$	(831	)	$	206