Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | UNIVEST CORP OF PENNSYLVANIA | |
Entity Central Index Key | 102,212 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | UVSP | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding | 29,314,818 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 52,200 | $ 46,721 |
Interest-earning deposits with other banks | 31,910 | 28,688 |
Investment securities held-to-maturity (fair value $105,642 and $55,320 at September 30, 2018 and December 31, 2017, respectively) | 108,142 | 55,564 |
Investment securities available-for-sale | 336,933 | 391,457 |
Investments in equity securities | 2,264 | |
Investments in equity securities | 7,061 | |
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost | 33,071 | 27,204 |
Loans held for sale | 106 | 1,642 |
Loans and leases held for investment | 3,866,169 | 3,620,067 |
Less: Reserve for loan and lease losses | (27,371) | (21,555) |
Net loans and leases held for investment | 3,838,798 | 3,598,512 |
Premises and equipment, net | 60,393 | 61,797 |
Goodwill | 172,559 | 172,559 |
Other intangibles, net of accumulated amortization and fair value adjustments of $24,423 and $21,825 at September 30, 2018 and December 31, 2017, respectively | 12,405 | 13,909 |
Bank owned life insurance | 110,392 | 108,246 |
Accrued interest receivable and other assets | 42,825 | 41,502 |
Total assets | 4,801,998 | 4,554,862 |
LIABILITIES | ||
Noninterest-bearing deposits | 1,047,081 | 1,040,026 |
Interest-bearing deposits: | ||
Demand deposits | 1,350,720 | 1,109,438 |
Savings deposits | 750,764 | 830,706 |
Time deposits | 671,483 | 574,749 |
Total deposits | 3,820,048 | 3,554,919 |
Short-term borrowings | 86,765 | 105,431 |
Long-term debt | 145,430 | 155,828 |
Subordinated notes | 94,514 | 94,331 |
Accrued interest payable and other liabilities | 40,999 | 40,979 |
Total liabilities | 4,187,756 | 3,951,488 |
SHAREHOLDERS’ EQUITY | ||
Common stock, $5 par value: 48,000,000 shares authorized at September 30, 2018 and December 31, 2017; 31,556,799 shares issued at September 30, 2018 and December 31, 2017; 29,407,076 and 29,334,859 shares outstanding at September 30, 2018 and December 31, 2017, respectively | 157,784 | 157,784 |
Additional paid-in capital | 291,992 | 290,133 |
Retained earnings | 235,658 | 216,761 |
Accumulated other comprehensive loss, net of tax benefit | (28,664) | (17,771) |
Treasury stock, at cost; 2,149,723 and 2,221,940 shares at September 30, 2018 and December 31, 2017, respectively | (42,528) | (43,533) |
Total shareholders’ equity | 614,242 | 603,374 |
Total liabilities and shareholders’ equity | $ 4,801,998 | $ 4,554,862 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Securities Held-to-Maturity, Fair Value | $ 105,642 | $ 55,320 |
Accumulated amortization and fair value adjustments on other intangibles | $ 24,423 | $ 21,825 |
Common stock, par value | $ 5 | $ 5 |
Common stock, shares authorized | 48,000,000 | 48,000,000 |
Common stock, shares issued | 31,556,799 | 31,556,799 |
Common stock, shares outstanding | 29,407,076 | 29,334,859 |
Treasury stock, shares | 2,149,723 | 2,221,940 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |||||
Interest and fees on loans and leases: | ||||||||
Taxable | $ 43,066 | $ 37,153 | $ 121,653 | $ 105,955 | ||||
Exempt from federal income taxes | 2,501 | 2,106 | 7,269 | 6,225 | ||||
Total interest and fees on loans and leases | 45,567 | 39,259 | 128,922 | 112,180 | ||||
Interest and dividends on investment securities: | ||||||||
Taxable | 2,348 | 1,855 | 6,805 | 5,376 | ||||
Exempt from federal income taxes | 459 | 550 | 1,404 | 1,725 | ||||
Interest on deposits with other banks | 397 | 133 | 621 | 188 | ||||
Interest and dividends on other earning assets | 484 | 375 | 1,497 | 1,129 | ||||
Total interest income | 49,255 | 42,172 | 139,249 | 120,598 | ||||
Interest expense | ||||||||
Interest on deposits | 6,278 | 3,068 | 14,511 | 7,720 | ||||
Interest on short-term borrowings | 584 | 169 | 2,187 | 756 | ||||
Interest on long-term debt and subordinated notes | 1,970 | 2,048 | 5,866 | 5,652 | ||||
Total interest expense | 8,832 | 5,285 | 22,564 | 14,128 | ||||
Net interest income | [1] | 40,423 | 36,887 | 116,685 | 106,470 | |||
Provision for loan and lease losses | 2,745 | 2,689 | 20,207 | 7,900 | ||||
Net interest income after provision for loan and lease losses | 37,678 | 34,198 | 96,478 | 98,570 | ||||
Disaggregation of Revenue [Line Items] | ||||||||
Insurance commission and fee income | 3,643 | 3,492 | 12,243 | 11,530 | ||||
Bank owned life insurance income | [1] | 865 | 742 | 2,744 | 3,147 | |||
Net gain on sales of investment securities | 0 | 7 | [1] | 10 | [1] | 43 | [1] | |
Net gain on mortgage banking activities | [1] | 754 | 908 | 2,412 | 3,558 | |||
Other income | [2] | 116 | 87 | 102 | 712 | |||
Total noninterest income | 14,861 | 14,109 | 45,757 | 45,088 | ||||
Noninterest expense | ||||||||
Salaries, benefits and commissions | 20,321 | 19,185 | 61,033 | 56,652 | ||||
Net occupancy | 2,515 | 2,523 | 7,805 | 7,872 | ||||
Equipment | 1,042 | 1,019 | 3,132 | 3,043 | ||||
Data processing | 2,339 | 2,118 | 6,662 | 6,257 | ||||
Professional fees | 1,370 | 1,447 | 4,056 | 3,934 | ||||
Marketing and advertising | 461 | 271 | 1,368 | 1,125 | ||||
Deposit insurance premiums | 544 | 409 | 1,387 | 1,262 | ||||
Intangible expenses | 479 | 690 | 1,685 | 1,895 | ||||
Restructuring charges | 0 | 0 | 571 | 0 | ||||
Other expense | 5,300 | 5,033 | 16,144 | 15,233 | ||||
Total noninterest expense | 34,371 | 32,695 | 103,843 | 97,273 | ||||
Income before income taxes | 18,168 | 15,612 | 38,392 | 46,385 | ||||
Income tax expense | 3,204 | 4,416 | 6,221 | 12,555 | ||||
Net income | $ 14,964 | $ 11,196 | $ 32,171 | $ 33,830 | ||||
Net income per share: | ||||||||
Basic (in dollars per share) | $ 0.51 | $ 0.42 | $ 1.10 | $ 1.27 | ||||
Diluted (in dollars per share) | 0.51 | 0.42 | 1.09 | 1.27 | ||||
Dividends declared (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.60 | $ 0.60 | ||||
Trust fee income | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Noninterest income | $ 1,960 | $ 1,924 | $ 6,000 | $ 5,847 | ||||
Service charges on deposit accounts | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Noninterest income | 1,454 | 1,371 | 4,116 | 3,927 | ||||
Investment advisory commission and fee income | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Noninterest income | 3,785 | 3,455 | 11,246 | 9,969 | ||||
Other service fee income | ||||||||
Disaggregation of Revenue [Line Items] | ||||||||
Noninterest income | [2] | $ 2,284 | $ 2,123 | $ 6,884 | $ 6,355 | |||
[1] | (1)Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. | |||||||
[2] | (2)Other service fee income and other income include certain items that are in scope and certain items that are out of scope of the standard and are described further in the following paragraphs. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Before Tax Amount | |||||
(Loss) income, Before Tax Amount | $ 18,168 | $ 15,612 | $ 38,392 | $ 46,385 | |
Net unrealized gains (losses) on available-for-sale investment securities, Before Tax Amount | |||||
Net unrealized holding (losses) gains arising during the period | (1,122) | 1,030 | (9,371) | 4,082 | |
Less: reclassification adjustment for net gains on sales realized in net income | [1] | 0 | (7) | (10) | (43) |
Total net unrealized (losses) gains on available-for-sale investment securities | (1,122) | 1,023 | (9,381) | 4,039 | |
Cash flow hedge derivative, Before Tax Amount | |||||
Net unrealized holding gains (losses) arising during the period | 79 | (20) | 445 | (105) | |
Less: reclassification adjustment for net losses realized in net income | [2] | 1 | 41 | 27 | 148 |
Total net unrealized gains on interest rate swaps used in cash flow hedges | 80 | 21 | 472 | 43 | |
Defined benefit pension plans, Before Tax Amount | |||||
Amortization of net actuarial loss included in net periodic pension costs | [3] | 281 | 320 | 844 | 918 |
Accretion of prior service cost included in net periodic pension costs | [3] | (70) | (71) | (212) | (212) |
Total defined benefit pension plans | 211 | 249 | 632 | 706 | |
Other comprehensive income, Before Tax Amount | (831) | 1,293 | (8,277) | 4,788 | |
Total comprehensive income (loss), Before Tax Amount | 17,337 | 16,905 | 30,115 | 51,173 | |
Tax Expense (Benefit) | |||||
Income tax expense | 3,204 | 4,416 | 6,221 | 12,555 | |
Net unrealized gains (losses) on available-for-sale investment securities, Tax Expense (Benefit) | |||||
Net unrealized holding (losses) gains arising during the period | (236) | 362 | (1,968) | 1,430 | |
Less: reclassification adjustment for net gains on sales realized in net income | [1] | 0 | (2) | (2) | (15) |
Total net unrealized (losses) gains on available-for-sale investment securities | (236) | 360 | (1,970) | 1,415 | |
Net unrealized losses on interest rate swaps used in cash flow hedges, Tax Expense (Benefit) | |||||
Net unrealized holding gains (losses) arising during the period | 17 | (7) | 93 | (37) | |
Less: reclassification adjustment for net losses realized in net income | [2] | 0 | 14 | 6 | 52 |
Total net unrealized gains on interest rate swaps used in cash flow hedges | 17 | 7 | 99 | 15 | |
Defined benefit pension plans, Tax Expense (Benefit) | |||||
Amortization of net actuarial loss included in net periodic pension costs | [3] | 60 | 112 | 177 | 321 |
Accretion of prior service cost included in net periodic pension costs | [3] | (15) | (25) | (44) | (74) |
Total defined benefit pension plans | 45 | 87 | 133 | 247 | |
Other comprehensive income, Tax Expense (Benefit) | (174) | 454 | (1,738) | 1,677 | |
Total comprehensive income (loss), Tax Expense (Benefit) | 3,030 | 4,870 | 4,483 | 14,232 | |
Net of Tax Amount | |||||
Net income | 14,964 | 11,196 | 32,171 | 33,830 | |
Net unrealized gains (losses) on available-for-sale investment securities, Net of Tax Amount | |||||
Net unrealized holding (losses) gains arising during the period | (886) | 668 | (7,403) | 2,652 | |
Less: reclassification adjustment for net gains on sales realized in net income | [1] | 0 | (5) | (8) | (28) |
Total net unrealized (losses) gains on available-for-sale investment securities | (886) | 663 | (7,411) | 2,624 | |
Total net unrealized gains (losses) on interest rate swaps used in cash flow hedges, Net of Tax Amount | |||||
Net unrealized holding gains (losses) arising during the period | 62 | (13) | 352 | (68) | |
Less: reclassification adjustment for net losses realized in net income | [2] | 1 | 27 | 21 | 96 |
Total net unrealized gains on interest rate swaps used in cash flow hedges | 63 | 14 | 373 | 28 | |
Defined benefit pension plans, Net of Tax Amount | |||||
Amortization of net actuarial loss included in net periodic pension costs | [3] | 221 | 208 | 667 | 597 |
Accretion of prior service cost included in net periodic pension costs | [3] | (55) | (46) | (168) | (138) |
Total defined benefit pension plans | 166 | 162 | 499 | 459 | |
Other comprehensive income, Net of Tax Amount | (657) | 839 | (6,539) | 3,111 | |
Total comprehensive income (loss), Net of Tax Amount | $ 14,307 | $ 12,035 | $ 25,632 | $ 36,941 | |
[1] | (1) Included in net gain on sales of investment securities on the consolidated statements of income (before tax amount). | ||||
[2] | (2) Included in interest expense on deposits on the consolidated statements of income (before tax amount). | ||||
[3] | (3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 8, "Retirement Plans and Other Postretirement Benefits" for additional details. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Treasury Stock [Member] | ||
Beginning balance at Dec. 31, 2016 | $ 505,209 | $ 144,559 | $ 230,494 | $ 194,516 | $ (19,454) | $ (44,906) | ||
Beginning balance, shares at Dec. 31, 2016 | 26,589,353 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 33,830 | $ 0 | 0 | 33,830 | 0 | 0 | ||
Other comprehensive loss, net of income tax benefit | 3,111 | 0 | 0 | 0 | 3,111 | 0 | ||
Cash dividends declared ($0.60 per share) | (15,983) | 0 | 0 | (15,983) | 0 | 0 | ||
Stock issued under dividend reinvestment and employee stock purchase plans | 1,839 | $ 0 | 130 | 0 | 0 | 1,709 | ||
Stock issued under dividend reinvestment and employee stock purchase plans, shares | 63,683 | |||||||
Exercise of stock options | 1,527 | $ 0 | (121) | 0 | 0 | 1,648 | ||
Exercise of stock options, shares | 84,870 | |||||||
Stock-based compensation | 2,550 | $ 0 | 2,550 | 0 | 0 | 0 | ||
Purchases of treasury stock | (3,285) | $ 0 | 0 | 0 | 0 | (3,285) | ||
Purchases of treasury stock, shares | (112,393) | |||||||
Restricted stock awards granted, net of cancellations | 0 | $ 0 | (881) | 0 | 0 | 881 | ||
Restricted stock awards granted, net of cancellations, shares | 45,823 | |||||||
Ending balance at Sep. 30, 2017 | 528,798 | $ 144,559 | 232,172 | 212,363 | (16,343) | (43,953) | ||
Ending balance, shares at Sep. 30, 2017 | 26,671,336 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | Accounting Standards Update 2016-01 [Member] | 0 | $ 0 | 0 | 433 | [1] | (433) | [1],[2] | 0 |
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | Accounting Standards Update 2018-02 [Member] | 0 | 0 | 0 | 3,921 | [1] | (3,921) | [1],[2] | 0 |
Beginning balance at Dec. 31, 2017 | 603,374 | $ 157,784 | 290,133 | 216,761 | (17,771) | (43,533) | ||
Beginning balance, shares at Dec. 31, 2017 | 29,334,859 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 32,171 | $ 0 | 0 | 32,171 | 0 | 0 | ||
Other comprehensive loss, net of income tax benefit | (6,539) | 0 | 0 | 0 | (6,539) | 0 | ||
Cash dividends declared ($0.60 per share) | (17,629) | 0 | 0 | (17,629) | 0 | 0 | ||
Stock issued under dividend reinvestment and employee stock purchase plans | 1,739 | $ 0 | 140 | 1 | 0 | 1,598 | ||
Stock issued under dividend reinvestment and employee stock purchase plans, shares | 62,271 | |||||||
Exercise of stock options | $ 1,131 | $ 0 | (43) | 0 | 0 | 1,174 | ||
Exercise of stock options, shares | 59,750 | 59,750 | ||||||
Stock-based compensation | $ 2,379 | $ 0 | 2,379 | 0 | 0 | 0 | ||
Purchases of treasury stock | (2,384) | $ 0 | 0 | 0 | 0 | (2,384) | ||
Purchases of treasury stock, shares | (83,977) | |||||||
Restricted stock awards granted, net of cancellations | 0 | $ 0 | (617) | 0 | 0 | 617 | ||
Restricted stock awards granted, net of cancellations, shares | 34,173 | |||||||
Ending balance at Sep. 30, 2018 | $ 614,242 | $ 157,784 | $ 291,992 | $ 235,658 | $ (28,664) | $ (42,528) | ||
Ending balance, shares at Sep. 30, 2018 | 29,407,076 | |||||||
[1] | (1) See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. | |||||||
[2] | (1) See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends declared, per share | $ 0.20 | $ 0.20 | $ 0.60 | $ 0.60 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Cash flows from operating activities: | |||
Net income | $ 32,171 | $ 33,830 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan and lease losses | 20,207 | 7,900 | |
Depreciation of premises and equipment | 4,180 | 4,151 | |
Net amortization of investment securities premiums and discounts | 1,193 | 1,416 | |
Net gain on sales of investment securities | [1] | (10) | (43) |
Net gain on mortgage banking activities | [1] | (2,412) | (3,558) |
Bank owned life insurance income | [1] | (2,744) | (3,147) |
Net accretion of acquisition accounting fair value adjustments | (838) | (2,572) | |
Stock-based compensation | 2,379 | 2,550 | |
Intangible expenses | 1,685 | 1,895 | |
Other adjustments to reconcile net income to cash provided by (used in) operating activities | 117 | (286) | |
Originations of loans held for sale | (95,665) | (105,557) | |
Proceeds from the sale of loans held for sale | 99,842 | 112,602 | |
Contributions to pension and other postretirement benefit plans | (3,199) | (2,206) | |
Decrease in accrued interest receivable and other assets | 379 | 1,395 | |
Increase (decrease) in accrued interest payable and other liabilities | 4,021 | (3,620) | |
Net cash provided by operating activities | 61,306 | 44,750 | |
Cash flows from investing activities: | |||
Net capital expenditures | (2,596) | (5,040) | |
Proceeds from maturities, calls and principal repayments of securities held-to-maturity | 7,846 | 21,796 | |
Proceeds from maturities, calls and principal repayments of securities available-for-sale | 44,603 | 49,271 | |
Proceeds from sales of securities available-for-sale | 1,010 | 3,538 | |
Purchases of investment securities held-to-maturity | (60,784) | (42,585) | |
Purchases of investment securities available-for-sale | (1,986) | (9,974) | |
Proceeds from sales of money market mutual funds | 11,215 | 23,035 | |
Purchases of money market mutual funds | (6,392) | (18,875) | |
Net increase in other investments | (5,867) | (2,375) | |
Net increase in loans and leases | (260,012) | (204,866) | |
Net increase in interest-earning deposits | (3,222) | (22,546) | |
Proceeds from sales of other real estate owned | 362 | 3,996 | |
Purchases of bank owned life insurance | (776) | 0 | |
Proceeds from bank owned life insurance | 1,374 | 2,937 | |
Net cash used in investing activities | (275,225) | (201,688) | |
Cash flows from financing activities: | |||
Net increase in deposits | 265,260 | 261,402 | |
Net decrease in short-term borrowings | (18,666) | (164,080) | |
Proceeds from issuance of long-term debt | 0 | 95,000 | |
Repayment of long-term debt | 10,000 | 15,000 | |
Payment of contingent consideration on acquisitions | (67) | (5,380) | |
Purchases of treasury stock | (2,384) | (3,285) | |
Stock issued under dividend reinvestment and employee stock purchase plans | 1,739 | 1,839 | |
Proceeds from exercise of stock options | 1,131 | 1,527 | |
Cash dividends paid | (17,615) | (15,966) | |
Net cash provided by financing activities | 219,398 | 156,057 | |
Net increase (decrease) in cash and due from banks | 5,479 | (881) | |
Cash and due from banks at beginning of year | 46,721 | 48,757 | |
Cash and due from banks at end of period | 52,200 | 47,876 | |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 21,647 | 15,458 | |
Cash paid for income taxes, net of refunds | 1,315 | 12,448 | |
Non cash transactions: | |||
Transfer of loans to other real estate owned | $ 477 | $ 649 | |
[1] | (1)Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Univest Corporation of Pennsylvania (the Corporation or Univest) and its wholly owned subsidiaries. The Corporation’s direct subsidiary is Univest Bank and Trust Co. (the Bank). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations for interim financial information. The accompanying unaudited consolidated financial statements reflect all adjustments which are of a normal recurring nature and are, in the opinion of management, necessary for a fair presentation of the financial statements for the interim periods presented. Certain prior period amounts have been reclassified to conform to the current-year presentation. Operating results for the nine -month period ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ended December 31, 2018 or for any other period. It is suggested that these unaudited consolidated financial statements be read in conjunction with the audited financial statements and the notes thereto included in the registrant’s Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on March 1, 2018 . Use of Estimates The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes include fair value measurement of investment securities available-for-sale, reserve for loan and lease losses and purchase accounting. Accounting Pronouncements Adopted in 2018 In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-02, " Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." This ASU clarifies the accounting treatment of the reclassification of certain income tax effects within accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act. The Corporation elected to early adopt this guidance effective January 1, 2018 for all stranded tax effects resulting from tax reform and reclassified stranded tax effects, totaling $3.9 million , from accumulated other comprehensive income to retained earnings. The Corporation's policy for releasing income tax effects from accumulated other comprehensive income is to release such effects on an individual basis as each item is liquidated, sold or extinguished. See Note 10, "Accumulated Other Comprehensive (Loss) Income" for additional detail. In March 2017, the FASB issued ASU No. 2017-07, "Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." The amendments in this ASU require that an employer that sponsors defined benefit pension plans and other postretirement plans present the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. Other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. The Corporation adopted this guidance effective January 1, 2018 with retrospective application for prior period presentation. Effective January 1, 2018, components of net benefit income other than the service cost component are presented in the Corporation's statement of income in other noninterest expense rather than in salaries, benefits and commission expense. Prior period components of net benefit income other than the service cost component were reclassed to other noninterest expense in the Corporation's statement of income. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." This ASU addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The ASU requires equity investments to be measured at fair value with changes in fair value recognized in net income. At December 31, 2017 , the Corporation had financial services equity securities with a carrying value of $1.1 million which included an unrealized net gain of $666 thousand . At December 31, 2017 , $433 thousand was recorded in accumulated other comprehensive income which represented the unrealized net gain, net of income taxes, based on the Corporation’s statutory tax rate as of December 31, 2017. In addition, at December 31, 2017, the Corporation had money market mutual funds with a fair value and amortized cost of $6.0 million which were reclassified to equity securities under this guidance. The Corporation adopted this guidance effective January 1, 2018 with a cumulative-effect adjustment to the balance sheet as of January 1, 2018. The balance in accumulated other comprehensive income of $433 thousand was reclassified to retained earnings effective January 1, 2018. The carrying value of the equity securities, at January 1, 2018, did not change; however, any future increases or decreases in fair value is recorded as an increase or decrease to the carrying value and recognized in other noninterest income. During the nine months ended September 30, 2018 , the Corporation recognized a $26 thousand net gain on equity securities in other noninterest income. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers (Topic 606)” and subsequent related updates. The Corporation adopted the guidance effective January 1, 2018 using the modified retrospective method though no adjustments were made to retained earnings as a result of the adoption. The Corporation provided expanded disclosures related to recognition of revenue from contracts with customers. See Note 14, "Revenue from Contracts with Customers." Recent Accounting Pronouncements Yet to Be Adopted In August 2018, the FASB issued ASU No. 2018-14, " Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans." The amendments in this ASU modify the disclosure requirements for employers that sponsor defined benefit plans or other postretirement plans. Disclosures removed by this ASU include the following: 1) amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year; 2) amount and timing of plan assets expected to be returned to the employer; and 3) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for postretirement health care benefits. Additional disclosures required by this ASU include: 1) the weighted-average interest crediting rates used in an entity's cash balance pension plans and other similar plans and 2) explanations for reasons for significant changes in the benefit obligation or plan assets. All amendments should be applied retrospectively. This ASU is effective for fiscal years ending after December 15, 2020 or December 31, 2020 for the Corporation. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statement disclosures but will result in revised disclosures for retirement plans and other postretirement benefits. In August 2018, the FASB issued ASU No. 2018-13, " Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement." This ASU applies to all entities that are required, under existing GAAP, to make disclosures about recurring or nonrecurring fair value measurements. Disclosures removed by this ASU are the amount and reasons for transfers between Level 1 and Level 2, the policy for timing of transfers between levels and the valuation processes for Level 3 measurements. This ASU modifies disclosures relating to investments in certain entities that calculate net asset value. Additional disclosures required by this ASU include: 1) change in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and 2) range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The prospective method of transition is required for the new disclosure requirements. The other amendments should be applied retrospectively. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years or January 1, 2020 for the Corporation. Early adoption is permitted. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements but will result in revised disclosures for fair value. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. " The amendments in this update expand and refine hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. Additional hedging strategies permitted for hedge accounting include: hedges of contractually-specified price components of commodity purchases or sales, hedges of the benchmark rate component of the contractual coupon cash flows of fixed-rate assets or liabilities, hedges of the portion of a closed portfolio of prepayable assets not expected to prepay, and partial-term hedges of fixed-rate assets or liabilities. The ASU amends the presentation and disclosure requirements and changes how entities assess effectiveness. The ASU eliminates the requirement to separately measure and report hedge ineffectiveness and requires all items that affect earnings be presented in the same income statement line as the hedged items. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, such as a regression analysis, if the entity can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities, or January 1, 2019 for the Corporation. Early adoption is permitted, including an interim period. The amended presentation and disclosure guidance is required only prospectively. The Corporation will adopt this ASU on January 1, 2019 and does not expect the adoption will have a material impact on the Corporation's financial statements. In March 2017, the FASB issued ASU No. 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date rather than the maturity of the security. Securities within the scope of this guidance are those that have explicit, non-contingent call features that are callable at fixed prices and on preset dates. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, or January 1, 2019 for the Corporation. Early adoption is permitted, including an interim period. This ASU is to be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. At September 30, 2018 , the Corporation had $11.3 million of callable debt securities. Upon implementation, using the modified retrospective basis effective January 1, 2019, the Corporation expects to record a cumulative-effect adjustment resulting in a reduction in the unamortized premium balance for certain callable debt securities of approximately $50 thousand and a reduction in retained earnings of approximately $40 thousand , net of tax, for the incremental amortization. This estimate could change due to changes in the Corporation's investments in callable securities prior to the adoption date. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." This ASU eliminates Step 2 of the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. Public business entities that are SEC filers should adopt the amendments in this ASU for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, or for the Corporation's goodwill impairment test in 2020. Early adoption is permitted for goodwill impairment tests with measurement dates after January 1, 2017. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements. In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU requires businesses and other organizations to measure the current expected credit losses (CECL) on financial assets, such as loans, net investments in leases, certain debt securities, bond insurance and other receivables. The amendments affect entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. Current GAAP requires an incurred loss methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The amendments in this ASU replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonableness and supportable information to inform credit loss estimates. An entity should apply the amendments through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (modified-retrospective approach). Acquired credit impaired loans for which the guidance in Accounting Standards Codification (ASC) Topic 310-30 has been previously applied should prospectively apply the guidance in this ASU. A prospective transition approach is required for debt securities for which an other-than-temporary impairment has been recognized before the effective date. The ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those years for public business entities that are SEC filers, or January 1, 2020 for the Corporation. The Corporation is in the process of evaluating the impact of the adoption of this guidance on the Corporation's financial statements; however, it is anticipated that the reserve for loan and lease losses will increase upon adoption of CECL and that the increased reserve level will decrease shareholders' equity and regulatory capital and ratios. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" and subsequent related updates to revise the accounting for leases. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases based on the present value of future lease payments. Lessor accounting activities are largely unchanged from existing lease accounting. Disclosures will be required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Early adoption is permitted. This new guidance is effective for the first interim period within annual periods beginning after December 15, 2018, or January 1, 2019 for the Corporation. The Corporation expects to adopt this new guidance effective January 1, 2019, retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment to retained earnings at January 1, 2019. The Corporation expects to elect the package of practical expedients permitted under the transition guidance which among other things, allows carry forward of the historical lease classification. All leases in which the Corporation is the lessee are classified as operating leases and will continue to be classified as such. The Corporation expects to continue to separately account for lease and non-lease components as historically reported and expects to elect the hindsight practical expedient to determine the lease term for existing leases. The Corporation is currently implementing a third party lease accounting system to assist with the measurement of lease liabilities and related right-of-use assets, the post-implementation administration aspect of lease accounting, and the applicable disclosures related to the new guidance. The Corporation has completed the initial scoping phase of the project, including the identification and review of lease contracts applicable to the new guidance, and is in the process of determining the estimated financial statement impact of the new guidance at the transition date. While the Corporation is continuing to assess the impact of this new guidance on the balance sheet and income statement, the Corporation expects to record between $30.0 million to $40.0 million of operating lease liabilities and related right-of-use assets at January 1, 2019, with any difference between these amounts, net of the deferred tax impact, recorded as an adjustment to opening retained earnings. These estimates, based on our active lease portfolio, may change as the Corporation continues through the implementation process, or due to changes in the lease portfolio, which could include new leases, changes in lease commencement dates, and changes to renewal options and lease termination expectations. The initial and continued impact of the recording of operating lease assets will have a negative impact on all Corporation and Bank capital ratios under current regulatory guidance and possibly equity ratios. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share, Basic and Diluted [Abstract] | |
Earnings per Share | Earnings per Share The Corporation uses the two-class method to calculate earnings per share as the unvested restricted stock issued under the Corporation's equity incentive plans are participating shares with nonforfeitable rights to dividends. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the number of weighted average shares outstanding during the period. The table also notes anti-dilutive options which are those options with weighted average exercise prices in excess of the weighted average market value for the periods presented. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended (Dollars and shares in thousands, except per share data) 2018 2017 2018 2017 Numerator: Net income $ 14,964 $ 11,196 $ 32,171 $ 33,830 Net income allocated to unvested restricted stock (86 ) (96 ) (225 ) (330 ) Net income allocated to common shares $ 14,878 $ 11,100 $ 31,946 $ 33,500 Denominator: Weighted average shares outstanding 29,402 26,666 29,387 26,653 Average unvested restricted stock (170 ) (229 ) (204 ) (265 ) Denominator for basic earnings per share— weighted-average shares outstanding 29,232 26,437 29,183 26,388 Effect of dilutive securities—employee stock options 86 105 92 102 Denominator for diluted earnings per share— adjusted weighted-average shares outstanding 29,318 26,542 29,275 26,490 Basic earnings per share $ 0.51 $ 0.42 $ 1.10 $ 1.27 Diluted earnings per share $ 0.51 $ 0.42 $ 1.09 $ 1.27 Average anti-dilutive options excluded from computation of diluted earnings per share 359 185 315 166 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following table shows the amortized cost and the estimated fair value of the held-to-maturity securities and available-for-sale securities at September 30, 2018 and December 31, 2017 , by contractual maturity within each type: At September 30, 2018 At December 31, 2017 (Dollars in thousands) Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value Securities Held-to-Maturity U.S. government corporations and agencies: After 1 year to 5 years $ 6,996 $ — $ (214 ) $ 6,782 $ 6,995 $ — $ (77 ) $ 6,918 6,996 — (214 ) 6,782 6,995 — (77 ) 6,918 Residential mortgage-backed securities: After 5 years to 10 years 12,190 — (279 ) 11,911 8,944 — (51 ) 8,893 Over 10 years 88,956 — (2,007 ) 86,949 39,625 44 (160 ) 39,509 101,146 — (2,286 ) 98,860 48,569 44 (211 ) 48,402 Total $ 108,142 $ — $ (2,500 ) $ 105,642 $ 55,564 $ 44 $ (288 ) $ 55,320 Securities Available-for-Sale U.S. government corporations and agencies: Within 1 year $ 15,153 $ — $ (131 ) $ 15,022 $ 1,499 $ — $ (3 ) $ 1,496 After 1 year to 5 years 303 — (9 ) 294 15,590 — (125 ) 15,465 15,456 — (140 ) 15,316 17,089 — (128 ) 16,961 State and political subdivisions: Within 1 year 5,943 — (11 ) 5,932 2,721 1 (6 ) 2,716 After 1 year to 5 years 12,569 15 (97 ) 12,487 16,787 33 (44 ) 16,776 After 5 years to 10 years 46,803 303 (631 ) 46,475 54,846 897 (73 ) 55,670 Over 10 years 3,120 — (122 ) 2,998 3,120 15 — 3,135 68,435 318 (861 ) 67,892 77,474 946 (123 ) 78,297 Residential mortgage-backed securities: After 1 year to 5 years 4,887 — (102 ) 4,785 3,913 12 (26 ) 3,899 After 5 years to 10 years 53,041 6 (2,231 ) 50,816 51,428 5 (852 ) 50,581 Over 10 years 105,808 22 (5,017 ) 100,813 133,237 87 (2,383 ) 130,941 163,736 28 (7,350 ) 156,414 188,578 104 (3,261 ) 185,421 Collateralized mortgage obligations: After 5 years to 10 years 1,772 — (108 ) 1,664 2,103 — (82 ) 2,021 Over 10 years 1,347 — (30 ) 1,317 1,567 14 — 1,581 3,119 — (138 ) 2,981 3,670 14 (82 ) 3,602 Corporate bonds: Within 1 year 2,506 — (10 ) 2,496 10,006 — (5 ) 10,001 After 1 year to 5 years 23,824 21 (442 ) 23,403 24,885 20 (147 ) 24,758 After 5 years to 10 years 16,152 2 (537 ) 15,617 16,669 71 (296 ) 16,444 Over 10 years 60,000 — (7,186 ) 52,814 60,000 — (4,027 ) 55,973 102,482 23 (8,175 ) 94,330 111,560 91 (4,475 ) 107,176 Equity securities:* No stated maturity N/A N/A N/A N/A 6,395 667 (1 ) 7,061 N/A N/A N/A N/A 6,395 667 (1 ) 7,061 Total $ 353,228 $ 369 $ (16,664 ) $ 336,933 $ 404,766 $ 1,822 $ (8,070 ) $ 398,518 * Equity securities at December 31, 2017 include $6.0 million of money market mutual funds and $ 1.1 million of financial services equity securities. In accordance with ASU 2016-01, beginning January 1, 2018, such amounts were reclassified from investment securities available-for-sale to investments in equity securities on the Corporation's Condensed Consolidated Balance Sheets. Expected maturities may differ from contractual maturities because debt issuers may have the right to call or prepay obligations without call or prepayment penalties and mortgage-backed securities typically prepay at a rate faster than contractually due. Securities with a carrying value of $362.0 million and $345.1 million at September 30, 2018 and December 31, 2017 , respectively, were pledged to secure public deposits and other contractual obligations. In addition, securities of $295 thousand and $1.8 million were pledged to secure credit derivatives and interest rate swaps at September 30, 2018 and December 31, 2017 , respectively. See Note 11, "Derivative Instruments and Hedging Activities" for additional information. The following table presents information related to sales of securities available-for-sale during the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, (Dollars in thousands) 2018 2017 Securities available-for-sale: Proceeds from sales $ 1,010 $ 3,538 Gross realized gains on sales 10 43 Tax expense related to net realized gains on sales 2 15 At September 30, 2018 and December 31, 2017 , there were no investments in any single non-federal issuer representing more than 10% of shareholders’ equity. The following table shows the fair value of securities that were in an unrealized loss position at September 30, 2018 and December 31, 2017 by the length of time those securities were in a continuous loss position. For the investment securities in an unrealized loss position, the Corporation has concluded, based on its analysis, that the unrealized losses are primarily caused by the movement of interest rates and current market conditions. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the par value of the investment. It is more likely than not that the Corporation will not be required to sell the investments before a recovery of carrying value. Less than Twelve Months Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized At September 30, 2018 Securities Held-to-Maturity U.S. government corporations and agencies $ — $ — $ 6,782 $ (214 ) $ 6,782 $ (214 ) Residential mortgage-backed securities 89,833 (1,963 ) 9,027 (323 ) 98,860 (2,286 ) Total $ 89,833 $ (1,963 ) $ 15,809 $ (537 ) $ 105,642 $ (2,500 ) Securities Available-for-Sale U.S. government corporations and agencies $ — $ — $ 15,316 $ (140 ) $ 15,316 $ (140 ) State and political subdivisions 33,509 (777 ) 7,476 (84 ) 40,985 (861 ) Residential mortgage-backed securities 27,331 (972 ) 127,441 (6,378 ) 154,772 (7,350 ) Collateralized mortgage obligations 1,317 (30 ) 1,664 (108 ) 2,981 (138 ) Corporate bonds 21,162 (467 ) 69,644 (7,708 ) 90,806 (8,175 ) Total $ 83,319 $ (2,246 ) $ 221,541 $ (14,418 ) $ 304,860 $ (16,664 ) At December 31, 2017 Securities Held-to-Maturity U.S. government corporations and agencies $ 6,919 $ (77 ) $ — $ — $ 6,919 $ (77 ) Residential mortgage-backed securities 40,881 (211 ) — — 40,881 (211 ) Total $ 47,800 $ (288 ) $ — $ — $ 47,800 $ (288 ) Securities Available-for-Sale U.S. government corporations and agencies $ 5,213 $ (38 ) $ 11,749 $ (90 ) $ 16,962 $ (128 ) State and political subdivisions 18,457 (91 ) 6,332 (32 ) 24,789 (123 ) Residential mortgage-backed securities 32,217 (210 ) 141,371 (3,051 ) 173,588 (3,261 ) Collateralized mortgage obligations — — 2,021 (82 ) 2,021 (82 ) Corporate bonds 18,464 (1,016 ) 71,957 (3,459 ) 90,421 (4,475 ) Equity securities — (1 ) 4 — 4 (1 ) Total $ 74,351 $ (1,356 ) $ 233,434 $ (6,714 ) $ 307,785 $ (8,070 ) At September 30, 2018 , gross unrealized losses for securities available-for-sale in an unrealized loss position for twelve months or longer, totaled $14.4 million . Four federal agency bonds, sixteen investment grade corporate bonds, 114 federal agency residential mortgage securities, nine investment grade municipal bonds and one collateralized mortgage obligation bond had respective unrealized loss positions of $140 thousand , $7.7 million , $6.4 million , $84 thousand and $108 thousand , respectively. The fair value of these 114 securities fluctuate with changes in market conditions which for these underlying securities is primarily due to changes in the interest rate environment. The Corporation does not intend to sell the securities in an unrealized loss position and is unlikely to be required to sell these securities before a recovery of fair value, which may be maturity. Upon review of the attributes of the individual securities, the Corporation concluded these securities were not other-than-temporarily impaired. The Corporation did not recognize any other-than-temporary impairment charges on debt securities for the nine months ended September 30, 2018 and 2017 . In conjunction with the adoption of ASU 2016-01, the Corporation recognized a $26 thousand net gain on equity securities during the nine months ended September 30, 2018 in other noninterest income and the net unrealized gain on equity securities held at September 30, 2018 was $26 thousand . See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. |
Loans and Leases
Loans and Leases | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans and Leases | Loans and Leases Summary of Major Loan and Lease Categories At September 30, 2018 (Dollars in thousands) Originated Acquired Total Commercial, financial and agricultural $ 867,636 $ 26,686 $ 894,322 Real estate-commercial 1,442,681 254,462 1,697,143 Real estate-construction 188,895 3,742 192,637 Real estate-residential secured for business purpose 279,800 66,531 346,331 Real estate-residential secured for personal purpose 327,833 52,676 380,509 Real estate-home equity secured for personal purpose 177,632 9,349 186,981 Loans to individuals 32,096 142 32,238 Lease financings 136,008 — 136,008 Total loans and leases held for investment, net of deferred income $ 3,452,581 $ 413,588 $ 3,866,169 Unearned lease income, included in the above table $ (15,079 ) $ — $ (15,079 ) Net deferred costs, included in the above table 4,064 — 4,064 Overdraft deposits included in the above table 156 — 156 At December 31, 2017 (Dollars in thousands) Originated Acquired Total Commercial, financial and agricultural $ 833,100 $ 63,111 $ 896,211 Real estate-commercial 1,235,681 306,460 1,542,141 Real estate-construction 171,244 4,592 175,836 Real estate-residential secured for business purpose 250,800 91,167 341,967 Real estate-residential secured for personal purpose 260,654 60,920 321,574 Real estate-home equity secured for personal purpose 171,884 12,386 184,270 Loans to individuals 28,156 144 28,300 Lease financings 129,768 — 129,768 Total loans and leases held for investment, net of deferred income $ 3,081,287 $ 538,780 $ 3,620,067 Unearned lease income, included in the above table $ (14,243 ) $ — $ (14,243 ) Net deferred costs, included in the above table 4,669 — 4,669 Overdraft deposits included in the above table 222 — 222 Overdraft deposits are re-classified as loans and are included in the total loans and leases on the balance sheet. The carrying amount of acquired loans at September 30, 2018 totaled $413.6 million , including $339.3 million of loans from the Fox Chase acquisition and $74.3 million from the Valley Green Bank acquisition. At September 30, 2018 , loans acquired with deteriorated credit quality, or acquired credit impaired loans, totaled $900 thousand representing $246 thousand from the Fox Chase acquisition and $654 thousand from the Valley Green Bank acquisition. Acquired credit impaired loans are accounted for in accordance with Accounting Standards Codification (ASC) Topic 310-30. The outstanding principal balance and carrying amount for acquired credit impaired loans at September 30, 2018 and December 31, 2017 were as follows: (Dollars in thousands) At September 30, 2018 At December 31, 2017 Outstanding principal balance $ 1,218 $ 2,325 Carrying amount 900 1,583 Allowance for loan losses — — The following table presents the changes in accretable yield on acquired credit impaired loans: Nine Months Ended September 30, (Dollars in thousands) 2018 2017 Beginning of period $ 11 $ 50 Reclassification from nonaccretable discount 453 823 Accretable discount amortized to interest income (464 ) (850 ) Disposals — (4 ) End of period $ — $ 19 Age Analysis of Past Due Loans and Leases The following presents, by class of loans and leases, an aging of past due loans and leases, loans and leases which are current and the recorded investment in loans and leases 90 days or more past due which are accruing interest at September 30, 2018 and December 31, 2017 : (Dollars in thousands) 30-59 60-89 90 Days Total Current Acquired Credit Impaired Total Loans Recorded At September 30, 2018 Commercial, financial and agricultural $ 661 $ 9,151 $ 1,003 $ 10,815 $ 883,325 $ 182 $ 894,322 $ — Real estate—commercial real estate and construction: Commercial real estate 1,168 373 1,313 2,854 1,694,083 206 1,697,143 83 Construction — — — — 192,637 — 192,637 — Real estate—residential and home equity: Residential secured for business purpose 2,221 47 1,265 3,533 342,350 448 346,331 — Residential secured for personal purpose 2,403 981 1,419 4,803 375,642 64 380,509 — Home equity secured for personal purpose 406 189 1,329 1,924 185,057 — 186,981 128 Loans to individuals 101 32 165 298 31,940 — 32,238 165 Lease financings 897 1,639 2,390 4,926 131,082 — 136,008 848 Total $ 7,857 $ 12,412 $ 8,884 $ 29,153 $ 3,836,116 $ 900 $ 3,866,169 $ 1,224 At December 31, 2017 Commercial, financial and agricultural $ 2,182 $ 1,440 $ 1,509 $ 5,131 $ 890,658 $ 422 $ 896,211 $ — Real estate—commercial real estate and construction: Commercial real estate 733 548 1,410 2,691 1,539,094 356 1,542,141 — Construction 1,970 — 365 2,335 173,501 — 175,836 — Real estate—residential and home equity: Residential secured for business purpose 1,651 315 1,355 3,321 338,061 585 341,967 162 Residential secured for personal purpose 4,368 1,118 23 5,509 315,845 220 321,574 — Home equity secured for personal purpose 1,414 333 464 2,211 182,059 — 184,270 148 Loans to individuals 221 139 195 555 27,745 — 28,300 195 Lease financings 1,143 392 1,855 3,390 126,378 — 129,768 256 Total $ 13,682 $ 4,285 $ 7,176 $ 25,143 $ 3,593,341 $ 1,583 $ 3,620,067 $ 761 Nonperforming Loans and Leases The following presents, by class of loans and leases, nonperforming loans and leases at September 30, 2018 and December 31, 2017 . Nonperforming loans exclude acquired credit impaired loans from Fox Chase and Valley Green. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Nonaccrual Accruing Loans and Total Nonperforming Nonaccrual Accruing Loans and Total Nonperforming Commercial, financial and agricultural $ 2,795 $ 595 $ — $ 3,390 $ 4,448 $ 921 $ — $ 5,369 Real estate—commercial real estate and construction: Commercial real estate 18,425 — 83 18,508 4,285 10,266 — 14,551 Construction 106 — — 106 365 — — 365 Real estate—residential and home equity: Residential secured for business purpose 1,416 171 — 1,587 2,843 206 162 3,211 Residential secured for personal purpose 1,815 — — 1,815 466 42 — 508 Home equity secured for personal purpose 1,460 — 128 1,588 511 — 148 659 Loans to individuals — — 165 165 — — 195 195 Lease financings 1,542 — 848 2,390 1,599 — 256 1,855 Total $ 27,559 $ 766 $ 1,224 $ 29,549 $ 14,517 $ 11,435 $ 761 $ 26,713 * Includes nonaccrual troubled debt restructured loans and lease modifications of $1.3 million and $2.5 million at September 30, 2018 and December 31, 2017 , respectively. Accruing troubled debt restructuring loans of $11.4 million at December 31, 2017 includes balances of $10.3 million related to one borrower which were classified as troubled debt restructurings as the related loans were granted amortization period extensions. These troubled debt restructured loans were returned to performing status during the first quarter of 2018 as the borrower was in compliance with the modified terms of the restructurings for the required time period. At September 30, 2018 , commercial real estate nonaccrual loans and leases includes an $11.8 million loan that was placed on nonaccrual status during the first quarter of 2018. A specific reserve of $645 thousand was recorded for this loan as of September 30, 2018 . Credit Quality Indicators The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at September 30, 2018 and December 31, 2017 . The Corporation employs a ten (10) grade risk rating system related to the credit quality of commercial loans and residential real estate loans secured for a business purpose of which the first six categories are pass categories (credits not adversely rated). The following is a description of the internal risk ratings and the likelihood of loss related to each risk rating. Loans with a relationship balance of less than $1 million are reviewed on a performance basis, with the primary monitored metrics being delinquency (60 days or more past due) and revolving stagnancy. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships exceeding $15 million or classified as special mention or substandard are reviewed at least quarterly, or more frequently based on management’s discretion. 1. Cash Secured—No credit risk 2. Fully Secured—Negligible credit risk 3. Strong—Minimal credit risk 4. Satisfactory—Nominal credit risk 5. Acceptable—Moderate credit risk 6. Pre-Watch—Marginal, but stable credit risk 7. Special Mention—Potential weakness 8. Substandard—Well-defined weakness 9. Doubtful—Collection in-full improbable 10. Loss—Considered uncollectible Commercial Credit Exposure Credit Risk by Internally Assigned Grades The following table presents classifications for originated loans: (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Total At September 30, 2018 Grade: 1. Cash secured/ 2. Fully secured $ 2,789 $ — $ 23,290 $ — $ 26,079 3. Strong 14,369 699 — — 15,068 4. Satisfactory 18,511 24,325 — 265 43,101 5. Acceptable 575,671 1,072,909 77,773 236,261 1,962,614 6. Pre-watch 222,325 287,933 86,326 38,090 634,674 7. Special Mention 26,323 35,402 1,400 2,203 65,328 8. Substandard 7,648 21,413 106 2,981 32,148 9. Doubtful — — — — — 10.Loss — — — — — Total $ 867,636 $ 1,442,681 $ 188,895 $ 279,800 $ 2,779,012 At December 31, 2017 Grade: 1. Cash secured/ 2. Fully secured $ 2,521 $ — $ 20,420 $ — $ 22,941 3. Strong 9,206 1,821 — — 11,027 4. Satisfactory 30,283 26,950 — 274 57,507 5. Acceptable 593,205 960,258 76,899 215,750 1,846,112 6. Pre-watch 179,990 209,844 72,168 29,738 491,740 7. Special Mention 4,027 12,974 1,392 296 18,689 8. Substandard 13,868 23,834 365 4,742 42,809 9. Doubtful — — — — — 10.Loss — — — — — Total $ 833,100 $ 1,235,681 $ 171,244 $ 250,800 $ 2,490,825 The following table presents classifications for acquired loans: (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Total At September 30, 2018 Grade: 1. Cash secured/ 2. Fully secured $ — $ — $ — $ — $ — 3. Strong — — — — — 4. Satisfactory — — — — — 5. Acceptable 23,085 155,221 — 56,107 234,413 6. Pre-watch 2,475 81,048 3,742 9,115 96,380 7. Special Mention 838 4,421 — — 5,259 8. Substandard 288 13,772 — 1,309 15,369 9. Doubtful — — — — — 10.Loss — — — — — Total $ 26,686 $ 254,462 $ 3,742 $ 66,531 $ 351,421 December 31, 2017 Grade: 1. Cash secured/ 2. Fully secured $ 1,120 $ — $ — $ — $ 1,120 3. Strong — — — — — 4. Satisfactory 125 482 — — 607 5. Acceptable 49,949 183,490 — 73,402 306,841 6. Pre-watch 6,183 98,977 4,592 15,861 125,613 7. Special Mention 1,007 17,028 — — 18,035 8. Substandard 4,727 6,483 — 1,904 13,114 9. Doubtful — — — — — 10.Loss — — — — — Total $ 63,111 $ 306,460 $ 4,592 $ 91,167 $ 465,330 Credit Exposure—Real Estate—Residential Secured for Personal Purpose, Real Estate—Home Equity Secured for Personal Purpose, Loans to individuals, Lease Financing Credit Risk Profile by Payment Activity The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: residential real estate loans secured for a personal purpose, home equity loans secured for a personal purpose, loans to individuals and lease financings. Nonperforming loans and leases are loans and leases past due 90 days or more, loans and leases on nonaccrual of interest and troubled debt restructured loans and lease modifications. Performing loans and leases are reviewed only if the loan becomes 60 days or more past due. Nonperforming loans and leases are reviewed monthly. Performing loans and leases have a nominal to moderate risk of loss. The following table presents classifications for originated loans: (Dollars in thousands) Real Estate— Real Estate— Loans to Lease Total At September 30, 2018 Performing $ 327,138 $ 177,115 $ 31,931 $ 133,618 $ 669,802 Nonperforming 695 517 165 2,390 3,767 Total $ 327,833 $ 177,632 $ 32,096 $ 136,008 $ 673,569 At December 31, 2017 Performing $ 260,589 $ 171,527 $ 27,961 $ 127,913 $ 587,990 Nonperforming 65 357 195 1,855 2,472 Total $ 260,654 $ 171,884 $ 28,156 $ 129,768 $ 590,462 The following table presents classifications for acquired loans: (Dollars in thousands) Real Estate— Real Estate— Loans to Lease Total At September 30, 2018 Performing $ 51,556 $ 8,278 $ 142 $ — $ 59,976 Nonperforming 1,120 1,071 — — 2,191 Total $ 52,676 $ 9,349 $ 142 $ — $ 62,167 At December 31, 2017 Performing $ 60,477 $ 12,084 $ 144 $ — $ 72,705 Nonperforming 443 302 — — 745 Total $ 60,920 $ 12,386 $ 144 $ — $ 73,450 Reserve for Loan and Lease Losses and Recorded Investment in Loans and Leases The following presents, by portfolio segment, a summary of the activity in the reserve for loan and lease losses for the three and nine months ended September 30, 2018 and 2017 : (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Loans to Lease Unallocated Total Three Months Ended September 30, 2018 Reserve for loan and lease losses: Beginning balance $ 7,258 $ 12,327 $ 2,004 $ 2,494 $ 447 $ 1,071 $ 51 $ 25,652 Charge-offs (904 ) — (30 ) — (82 ) (123 ) N/A (1,139 ) Recoveries 22 1 8 6 25 51 N/A 113 Provision 813 906 72 527 82 138 206 2,744 Provision for acquired credit impaired loans — — — 1 — — — 1 Ending balance $ 7,189 $ 13,234 $ 2,054 $ 3,028 $ 472 $ 1,137 $ 257 $ 27,371 Three Months Ended September 30, 2017 Reserve for loan and lease losses: Beginning balance $ 8,313 $ 8,468 $ 1,129 $ 974 $ 329 $ 1,660 $ 37 $ 20,910 Charge-offs (290 ) — (56 ) (83 ) (61 ) (3,097 ) N/A (3,587 ) Recoveries 325 1 29 68 35 73 N/A 531 (Recovery of provision) provision (1,732 ) 787 204 756 51 2,654 (30 ) 2,690 Recovery of provision for acquired credit impaired loans — — (1 ) — — — — (1 ) Ending balance $ 6,616 $ 9,256 $ 1,305 $ 1,715 $ 354 $ 1,290 $ 7 $ 20,543 Nine Months Ended September 30, 2018 Reserve for loan and lease losses: Beginning balance $ 6,742 $ 9,839 $ 1,661 $ 1,754 $ 373 $ 1,132 $ 54 $ 21,555 Charge-offs (14,553 ) (40 ) (30 ) — (253 ) (428 ) N/A (15,304 ) Recoveries 271 74 266 71 71 160 N/A 913 Provision 14,729 3,361 157 1,201 281 273 203 20,205 Provision for acquired credit impaired loans — — — 2 — — — 2 Ending balance $ 7,189 $ 13,234 $ 2,054 $ 3,028 $ 472 $ 1,137 $ 257 $ 27,371 Nine Months Ended September 30, 2017 Reserve for loan and lease losses: Beginning balance $ 7,037 $ 7,505 $ 774 $ 993 $ 364 $ 788 $ 38 $ 17,499 Charge-offs (576 ) (30 ) (1,237 ) (177 ) (301 ) (3,681 ) N/A (6,002 ) Recoveries 722 4 47 89 116 168 N/A 1,146 (Recovery of provision) provision (567 ) 1,777 1,722 808 175 4,015 (31 ) 7,899 (Recovery of provision) provision for acquired credit impaired loans — — (1 ) 2 — — — 1 Ending balance $ 6,616 $ 9,256 $ 1,305 $ 1,715 $ 354 $ 1,290 $ 7 $ 20,543 N/A – Not applicable Charge-offs for the nine months ended September 30, 2018 include a charge-off of $12.7 million during the second quarter of 2018 for a commercial loan relationship related to alleged fraudulent activities perpetrated by one or more employees of the borrower. The Bank owned a participating interest which originally totaled $13.0 million in an approximately $80.0 million commercial lending facility. The charge-off represents the entire principal amount owed to the Bank. The following presents, by portfolio segment, a summary of the balance in the reserve for loan and lease losses disaggregated on the basis of impairment method and the recorded investment in loans and leases disaggregated on the basis of impairment method at September 30, 2018 and 2017 : (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Loans to Lease Unallocated Total At September 30, 2018 Reserve for loan and lease losses: Ending balance: individually evaluated for impairment $ 211 $ 645 $ — $ 192 $ — $ — N/A $ 1,048 Ending balance: collectively evaluated for impairment 6,978 12,504 2,014 2,836 472 1,137 257 26,198 Ending balance: acquired credit impaired loans evaluated for impairment — 85 40 — — — — 125 Total ending balance $ 7,189 $ 13,234 $ 2,054 $ 3,028 $ 472 $ 1,137 $ 257 $ 27,371 Loans and leases held for investment: Ending balance: individually evaluated for impairment $ 4,889 $ 18,970 $ 1,588 $ 3,275 $ — $ 1,250 $ 29,972 Ending balance: collectively evaluated for impairment 862,747 1,610,805 278,212 502,190 32,096 134,758 3,420,808 Loans measured at fair value — 1,801 — — — — 1,801 Acquired non-credit impaired loans 26,504 257,998 66,083 61,961 142 — 412,688 Acquired credit impaired loans 182 206 448 64 — — 900 Total ending balance $ 894,322 $ 1,889,780 $ 346,331 $ 567,490 $ 32,238 $ 136,008 $ 3,866,169 At September 30, 2017 Reserve for loan and lease losses: Ending balance: individually evaluated for impairment $ 15 $ 40 $ 33 $ — $ — $ — N/A $ 88 Ending balance: collectively evaluated for impairment 6,601 9,216 1,272 1,715 354 1,290 7 20,455 Total ending balance $ 6,616 $ 9,256 $ 1,305 $ 1,715 $ 354 $ 1,290 $ 7 $ 20,543 Loans and leases held for investment: Ending balance: individually evaluated for impairment $ 7,883 $ 17,274 $ 4,471 $ 932 $ — $ 1,250 $ 31,810 Ending balance: collectively evaluated for impairment 774,886 1,307,585 209,340 415,161 27,297 122,888 2,857,157 Loans measured at fair value — 2,014 — — — — 2,014 Acquired non-credit impaired loans 75,983 344,818 95,625 77,991 144 — 594,561 Acquired credit impaired loans 465 356 584 217 — — 1,622 Total ending balance $ 859,217 $ 1,672,047 $ 310,020 $ 494,301 $ 27,441 $ 124,138 $ 3,487,164 N/A – Not applicable The Corporation records a provision for loan loss for the acquired non-impaired loans only when additional deterioration of the portfolio is identified over the projections utilized in the initial fair value analysis. After the acquisition measurement period, the present value of any decreases in expected cash flows of acquired credit impaired loans will generally result in an impairment charge recorded as a provision for loan loss, resulting in an increase to the allowance. Impaired Loans (excludes Lease Financings) The following presents, by class of loans, the recorded investment and unpaid principal balance of impaired loans, the amounts of the impaired loans for which there is not a reserve for credit losses and the amounts for which there is a reserve for credit losses at September 30, 2018 and December 31, 2017 . The impaired loans exclude acquired credit impaired loans. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related Impaired loans with no related reserve recorded: Commercial, financial and agricultural $ 3,958 $ 4,535 $ 7,019 $ 8,301 Real estate—commercial real estate 7,110 7,976 15,621 16,507 Real estate—construction 106 111 365 365 Real estate—residential secured for business purpose 1,588 1,776 3,430 4,620 Real estate—residential secured for personal purpose 1,091 1,142 508 566 Real estate—home equity secured for personal purpose 1,460 1,488 511 523 Total impaired loans with no related reserve recorded $ 15,313 $ 17,028 $ 27,454 $ 30,882 Impaired loans with a reserve recorded: Commercial, financial and agricultural $ 931 $ 984 $ 211 $ 60 $ 60 $ 31 Real estate—commercial real estate 11,754 12,138 645 933 933 99 Real estate—residential secured for business purpose — — — 35 37 1 Real estate—residential secured for personal purpose 724 724 192 — — — Total impaired loans with a reserve recorded $ 13,409 $ 13,846 $ 1,048 $ 1,028 $ 1,030 $ 131 Total impaired loans: Commercial, financial and agricultural $ 4,889 $ 5,519 $ 211 $ 7,079 $ 8,361 $ 31 Real estate—commercial real estate 18,864 20,114 645 16,554 17,440 99 Real estate—construction 106 111 — 365 365 — Real estate—residential secured for business purpose 1,588 1,776 — 3,465 4,657 1 Real estate—residential secured for personal purpose 1,815 1,866 192 508 566 — Real estate—home equity secured for personal purpose 1,460 1,488 — 511 523 — Total impaired loans $ 28,722 $ 30,874 $ 1,048 $ 28,482 $ 31,912 $ 131 Impaired loans include nonaccrual loans, accruing troubled debt restructured loans and other accruing impaired loans for which it is probable that not all principal and interest payments due will be collectible in accordance with the original contractual terms. These loans are individually measured to determine the amount of potential impairment. The loans are reviewed for impairment based on the fair value of the collateral for collateral dependent loans and for certain loans based on discounted cash flows using the loans’ initial effective interest rates. Impaired loans include other accruing impaired loans of $1.9 million and $4.1 million at September 30, 2018 and December 31, 2017 , respectively. Specific reserves on other accruing impaired loans were $0 thousand and $99 thousand at September 30, 2018 and December 31, 2017 , respectively. The following presents by class of loans, the average recorded investment in impaired loans and an analysis of interest on impaired loans. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Therefore, interest income on accruing impaired loans is recognized using the accrual method. Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (Dollars in thousands) Average Interest Additional Average Interest Additional Commercial, financial and agricultural $ 5,671 $ 31 $ 58 $ 10,211 $ 52 $ 92 Real estate—commercial real estate 19,878 22 261 18,583 201 69 Real estate—construction 108 — 2 365 — 5 Real estate—residential secured for business purpose 1,844 4 32 3,579 16 34 Real estate—residential secured for personal purpose 1,850 — 26 635 1 8 Real estate—home equity secured for personal purpose 1,507 — 21 288 — 5 Total $ 30,858 $ 57 $ 400 $ 33,661 $ 270 $ 213 * Includes interest income recognized on a cash basis for nonaccrual loans of $5 thousand and $0 thousand for the three months ended September 30, 2018 and 2017 , respectively, and interest income recognized on the accrual method for accruing impaired loans of $52 thousand and $270 thousand for the three months ended September 30, 2018 and 2017 , respectively. Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in thousands) Average Interest Additional Average Interest Additional Commercial, financial and agricultural $ 6,589 $ 103 $ 269 $ 11,030 $ 162 $ 263 Real estate—commercial real estate 19,935 212 813 21,120 618 223 Real estate—construction 128 — 7 219 — 15 Real estate—residential secured for business purpose 2,018 14 79 4,053 53 139 Real estate—residential secured for personal purpose 1,064 3 70 629 2 31 Real estate—home equity secured for personal purpose 1,026 — 60 391 — 15 Total $ 30,760 $ 332 $ 1,298 $ 37,442 $ 835 $ 686 * Includes interest income recognized on a cash basis for nonaccrual loans of $13 thousand and $4 thousand for the nine months ended September 30, 2018 and 2017 , respectively, and interest income recognized on the accrual method for accruing impaired loans of $319 thousand and $831 thousand for the nine months ended September 30, 2018 and 2017 , respectively. Impaired Leases The Corporation had impaired leases of $1.3 million at September 30, 2018 and December 31, 2017 with no related reserves. See discussion in Reserve for Loan and Lease Losses and Recorded Investment in Loans and Leases. Troubled Debt Restructured Loans The following presents, by class of loans, information regarding accruing and nonaccrual loans that were restructured: Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (Dollars in thousands) Number Pre- Post- Related Number Pre- Post- Related Accruing Troubled Debt Restructured Loans: Total — $ — $ — $ — — $ — $ — $ — Nonaccrual Troubled Debt Restructured Loans: Total — $ — $ — $ — — $ — $ — $ — Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in thousands) Number Pre- Post- Related Number Pre- Post- Related Accruing Troubled Debt Restructured Loans: Real estate—commercial real estate — $ — $ — $ — 3 $ 9,206 $ 9,206 $ — Total — $ — $ — $ — 3 $ 9,206 $ 9,206 $ — Nonaccrual Troubled Debt Restructured Loans: Real estate—commercial real estate — $ — $ — $ — 1 $ 328 $ 328 $ — Real estate—residential secured for personal purpose 1 66 66 — — — — — Total 1 $ 66 $ 66 $ — 1 $ 328 $ 328 $ — The Corporation grants concessions to existing borrowers primarily related to extensions of interest-only payment periods and an occasional payment modification. These modifications typically are for up to one year . The goal when restructuring a credit is to establish a reasonable period of time to provide cash flow relief to customers experiencing cash flow difficulties. Accruing troubled debt restructured loans are primarily comprised of loans on which interest is being accrued under the restructured terms, and the loans are current or less than ninety days past due. The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the three and nine months ended September 30, 2018 and 2017 . Maturity Date Amortization Period Extension Total Concessions (Dollars in thousands) No. of Amount No. of Amount No. of Amount Three Months Ended September 30, 2018 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Three Months Ended September 30, 2017 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nine Months Ended September 30, 2018 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Real estate—residential secured for personal purpose — $ — 1 $ 66 1 $ 66 Total — $ — 1 $ 66 1 $ 66 Nine Months Ended September 30, 2017 Accruing Troubled Debt Restructured Loans: Real estate—commercial real estate — $ — 3 $ 9,206 3 $ 9,206 Total — $ — 3 $ 9,206 3 $ 9,206 Nonaccrual Troubled Debt Restructured Loans: Real estate—commercial real estate 1 $ 328 — $ — 1 $ 328 Total 1 $ 328 — $ — 1 $ 328 The following presents, by class of loans, information regarding accruing and nonaccrual troubled debt restructured loans, for which there were payment defaults within twelve months of the restructuring date: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Number Recorded Number Recorded Number Recorded Number Recorded Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural — $ — — $ — 1 $ 953 — $ — Total — $ — — $ — 1 $ 953 — $ — The following presents, by class of loans, information regarding consumer mortgages collateralized by residential real estate property that are in the process of foreclosure at September 30, 2018 and December 31, 2017 : (Dollars in thousands) At September 30, 2018 At December 31, 2017 Real estate-residential secured for personal purpose $ — $ 31 Real estate-home equity secured for personal purpose 812 — Total $ 812 $ 31 The following presents foreclosed residential real estate property included in other real estate owned at September 30, 2018 and December 31, 2017 . (Dollars in thousands) At September 30, 2018 At December 31, 2017 Foreclosed residential real estate $ 57 $ 80 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The Corporation has core deposit and customer-related intangibles and servicing rights, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The Corporation also has goodwill which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the nine months ended September 30, 2018 were as follows: (Dollars in thousands) Banking Wealth Management Insurance Consolidated Balance at December 31, 2017 $ 138,476 $ 15,434 $ 18,649 $ 172,559 Addition to goodwill from acquisitions — — — — Balance at September 30, 2018 $ 138,476 $ 15,434 $ 18,649 $ 172,559 The following table reflects the components of intangible assets at the dates indicated: At September 30, 2018 At December 31, 2017 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization and Fair Value Adjustments Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Fair Value Adjustments Net Carrying Amount Amortized intangible assets: Covenants not to compete $ 710 $ 710 $ — $ 710 $ 580 $ 130 Core deposit intangibles 6,788 2,903 3,885 6,788 2,135 4,653 Customer related intangibles 12,381 10,576 1,805 12,381 9,828 2,553 Servicing rights 16,949 10,234 6,715 15,855 9,282 6,573 Total amortized intangible assets $ 36,828 $ 24,423 $ 12,405 $ 35,734 $ 21,825 $ 13,909 The estimated aggregate amortization expense for core deposit and customer related intangibles for the remainder of 2018 and the succeeding fiscal years is as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 468 2019 1,565 2020 1,200 2021 923 2022 666 Thereafter 868 The Corporation has originated mortgage servicing rights, which are included in other intangible assets on the consolidated balance sheets. Mortgage servicing rights are amortized in proportion to, and over the period of, estimated net servicing income on a basis similar to the interest method and an accelerated amortization method for loan payoffs. Mortgage servicing rights are subject to impairment testing on a quarterly basis. The aggregate fair value of these rights was $11.9 million at September 30, 2018 and $10.0 million at December 31, 2017 . The fair value of mortgage servicing rights was determined using a discount rate of 10.0% at September 30, 2018 and December 31, 2017 . The Corporation also records servicing rights on small business administration (SBA) loans. The value of these servicing rights was $32 thousand and $21 thousand at September 30, 2018 and December 31, 2017 , respectively. Changes in the servicing rights balance are summarized as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2018 2017 2018 2017 Beginning of period $ 6,650 $ 6,548 $ 6,573 $ 6,485 Servicing rights capitalized 406 376 1,093 1,106 Amortization of servicing rights (341 ) (368 ) (951 ) (1,035 ) End of period $ 6,715 $ 6,556 $ 6,715 $ 6,556 Residential mortgage and SBA loans serviced for others $ 1,024,229 $ 997,169 $ 1,024,229 $ 997,169 The estimated amortization expense of servicing rights for the remainder of 2018 and the succeeding fiscal years is as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 858 2019 770 2020 682 2021 603 2022 533 Thereafter 3,269 |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits Deposits and their respective weighted average interest rate at September 30, 2018 and December 31, 2017 consist of the following: At September 30, 2018 At December 31, 2017 Weighted Average Interest Rate Amount Weighted Average Interest Rate Amount (Dollars in thousands) Noninterest-bearing deposits — % $ 1,047,081 — % $ 1,040,026 Demand deposits 0.93 1,350,720 0.43 1,109,438 Savings deposits 0.28 750,764 0.26 830,706 Time deposits 1.66 671,483 1.12 574,749 Total 0.67 % $ 3,820,048 0.38 % $ 3,554,919 The aggregate amount of time deposits in denominations of $100 thousand or more was $276.6 million at September 30, 2018 and $250.0 million at December 31, 2017 . Deposits are insured up to applicable limits by the Deposit Insurance Fund of the FDIC. Deposit insurance per account owner is currently up to $250 thousand. The aggregate amount of time deposits in denominations over $250 thousand was $126.7 million at September 30, 2018 and $118.4 million at December 31, 2017 . At September 30, 2018 , the scheduled maturities of time deposits are as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 92,465 2019 335,088 2020 114,034 2021 32,865 2022 33,222 Thereafter 63,809 Total $ 671,483 |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Borrowings | Borrowings The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less. The long-term debt balances and weighted average interest rates include purchase accounting fair value adjustments, net of related amortization, from the Fox Chase acquisition. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Balance at End of Period Weighted Average Interest Rate at End of Period Balance at End of Period Weighted Average Interest Rate at End of Period Short-term borrowings: FHLB borrowings $ 16,980 2.38 % $ 30,225 1.54 % Federal funds purchased 50,000 2.33 55,000 1.56 Customer repurchase agreements 19,785 0.05 20,206 0.05 Long-term debt: FHLB advances $ 115,000 1.82 % $ 125,036 1.73 % Security repurchase agreements 30,430 2.14 30,792 1.52 Subordinated notes $ 94,514 5.34 % $ 94,331 5.35 % The Corporation, through the Bank, has a credit facility with the Federal Home Loan Bank (FHLB) with a maximum borrowing capacity of approximately $1.6 billion . Advances from the FHLB are collateralized by a blanket floating lien on all first mortgage loans of the Bank, FHLB capital stock owned by the Bank and any funds on deposit with the FHLB. At September 30, 2018 and December 31, 2017 , the Bank had outstanding short-term letters of credit with the FHLB totaling $382.9 million and $234.2 million , respectively, which were utilized to collateralize public funds deposits. The maximum borrowing capacity with the FHLB changes as a function of the Bank’s qualifying collateral assets as well as the FHLB’s internal credit rating of the Bank. The Corporation, through the Bank, maintains uncommitted federal fund credit lines with several correspondent banks totaling $367.0 million at September 30, 2018 and December 31, 2017 . Future availability under these lines is subject to the prerogatives of the granting banks and may be withdrawn at will. The Corporation, through the Bank, holds collateral at the Federal Reserve Bank of Philadelphia in order to access the Discount Window Lending program. The collateral consisting of investment securities was valued at $66.2 million and $52.0 million at September 30, 2018 and December 31, 2017 , respectively. At September 30, 2018 and December 31, 2017 , the Corporation had no outstanding borrowings under this program. The Corporation has a $10.0 million line of credit with a correspondent bank. At September 30, 2018 and December 31, 2017 , the Corporation had no outstanding borrowings under this line. Long-term advances with the FHLB of Pittsburgh mature as follows: (Dollars in thousands) As of September 30, 2018 Weighted Average Rate Remainder of 2018 $ — — % 2019 10,000 1.35 2020 40,000 1.70 2021 55,000 1.94 2022 10,000 2.09 Thereafter — — Total $ 115,000 1.82 % Long-term debt under security repurchase agreements with large commercial banks mature as follows: (Dollars in thousands) As of September 30, 2018 Weighted Average Rate Remainder of 2018 $ 10,032 1.52 % 2019 10,152 2.45 2020 10,246 2.44 2021 — — 2022 — — Thereafter — — Total $ 30,430 2.14 % Long-term debt under security repurchase agreements totaling $25.4 million are variable based on the one-month LIBOR rate plus a spread. One borrowing for $5.0 million has a fixed interest rate and may be called by the lender based on the underlying agreement. |
Retirement Plans and Other Post
Retirement Plans and Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Retirement Plans and Other Postretirement Benefits | Retirement Plans and Other Postretirement Benefits Substantially all employees who were hired before December 8, 2009 are covered by a noncontributory retirement plan. Employees hired on or after December 8, 2009 are not eligible to participate in the noncontributory retirement plan. The Corporation also provides supplemental executive retirement benefits to certain former executives, a portion of which is in excess of limits imposed on qualified plans by federal tax law; these plans are non-qualified benefit plans. These non-qualified benefit plans are not offered to new participants; all current participants are now retired. Information on these plans are aggregated and reported under “Retirement Plans” within this footnote. The Corporation also provides certain postretirement healthcare and life insurance benefits for retired employees. Information on these benefits is reported under “Other Postretirement Benefits” within this footnote. The Corporation sponsors a Supplemental Non-Qualified Pension Plan, which was established in 1981 prior to the existence of a 401(k) deferred salary savings plan, employee stock purchase plan and long-term incentive plans and therefore is not offered to new participants; all current participants are now retired. Components of net periodic benefit cost (income) were as follows: Three Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Retirement Plans Other Post Retirement Service cost $ 140 $ 124 $ 22 $ 12 Interest cost 440 487 23 29 Expected return on plan assets (849 ) (797 ) — — Amortization of net actuarial loss 280 309 1 11 Accretion of prior service cost (70 ) (71 ) — — Net periodic benefit (income) cost $ (59 ) $ 52 $ 46 $ 52 Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Retirement Plans Other Post Retirement Service cost $ 420 $ 399 $ 66 $ 36 Interest cost 1,320 1,439 69 88 Expected return on plan assets (2,440 ) (2,298 ) — — Amortization of net actuarial loss 841 886 3 32 Accretion of prior service cost (212 ) (212 ) — — Net periodic benefit (income) cost $ (71 ) $ 214 $ 138 $ 156 The components of net periodic benefit cost other than the service cost component are included in other noninterest expense in the consolidated statements of income. The Corporation made a contribution of $3.0 million to its qualified retirement plan on July 5, 2018. The Corporation previously disclosed in its financial statements for the year ended December 31, 2017 that it expected to make contributions of $158 thousand to its non-qualified retirement plans and $80 thousand to its other postretirement benefit plans in 2018 . During the nine months ended September 30, 2018 , the Corporation contributed $120 thousand to its non-qualified retirement plans and $79 thousand to its other postretirement plans. During the nine months ended September 30, 2018 , $2.0 million was paid to participants from the retirement plans and $79 thousand was paid to participants from the other postretirement plans. |
Stock-Based Incentive Plan
Stock-Based Incentive Plan | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Incentive Plan | Stock-Based Incentive Plan The Corporation has a shareholder approved 2013 Long-Term Incentive Plan, which replaced the expired 2003 Long-Term Incentive Plan. Under the 2013 Long-Term Incentive Plan, the Corporation may grant up to 3,698,974 options and restricted stock to employees and non-employee directors, which includes 330,625 shares as a result of the Corporation's common stock issuance in 2017, 857,191 shares as a result of the completion of the acquisition of Fox Chase in 2016 and 473,483 shares as a result of the completion of the acquisition of Valley Green Bank in 2015. The following is a summary of the Corporation's stock option activity and related information for the nine months ended September 30, 2018 : (Dollars in thousands, except per share data) Shares Under Option Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value at September 30, 2018 Outstanding at December 31, 2017 512,735 $ 21.90 Granted 192,278 28.50 Expired (500 ) 28.15 Forfeited (20,418 ) 26.14 Exercised (59,750 ) 18.92 Outstanding at September 30, 2018 624,345 24.08 7.5 $ 2,150 Exercisable at September 30, 2018 259,031 20.41 5.9 1,662 The following is a summary of nonvested stock options at September 30, 2018 including changes during the nine months then ended: (Dollars in thousands, except per share data) Nonvested Stock Options Weighted Average Grant Date Fair Value Nonvested stock options at December 31, 2017 352,142 $ 6.47 Granted 192,278 6.46 Vested (158,688 ) 6.43 Forfeited (20,418 ) 6.49 Nonvested stock options at September 30, 2018 365,314 6.48 The following aggregated assumptions were used to estimate the fair value of options granted during the nine months ended September 30, 2018 and 2017 : Nine months ended September 30, 2018 2017 Actual Expected option life in years 6.6 6.9 Risk free interest rate 2.80 % 2.30 % Expected dividend yield 2.81 % 2.84 % Expected volatility 27.15 % 29.75 % Fair value of options $6.46 $6.72 The following is a summary of nonvested restricted stock awards at September 30, 2018 including changes during the nine months then ended: (Dollars in thousands, except per share data) Nonvested Share Awards Weighted Average Grant Date Fair Value Nonvested share awards at December 31, 2017 229,026 $ 21.93 Granted 59,953 28.39 Vested (94,867 ) 19.94 Forfeited (25,780 ) 21.63 Nonvested share awards at September 30, 2018 168,332 25.41 The fair value of restricted stock is equivalent to the fair value on the date of grant and is amortized over the vesting period. Certain information regarding restricted stock is summarized below for the periods indicated: Nine months ended September 30, (Dollars in thousands, except per share data) 2018 2017 Shares granted 59,953 61,823 Weighted average grant date fair value $ 28.39 $ 28.08 Intrinsic value of awards vested $ 2,648 $ 2,914 The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested stock options and nonvested restricted stock awards at September 30, 2018 is presented below: (Dollars in thousands) Unrecognized Compensation Cost Weighted-Average Period Remaining (Years) Stock options $ 1,592 1.9 Restricted stock awards 2,107 1.8 $ 3,699 1.9 The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated: Nine months ended September 30, (Dollars in thousands) 2018 2017 Stock-based compensation expense: Stock options $ 797 $ 678 Restricted stock awards 1,582 1,872 Employee stock purchase plan 51 47 Total $ 2,430 $ 2,597 Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options $ 624 $ 1,263 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive (Loss) Income | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive (Loss) Income | Accumulated Other Comprehensive (Loss) Income The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented: (Dollars in thousands) Net Unrealized Net Change Net Change Accumulated Balance, December 31, 2017 $ (4,061 ) $ 9 $ (13,719 ) $ (17,771 ) Adjustment to initially apply ASU No. 2016-01 for equity securities measured at fair value (1) (433 ) — — (433 ) Adjustment to initially apply ASU No. 2018-02 for reclassification of stranded net tax charges (1) (968 ) 2 (2,955 ) (3,921 ) Other comprehensive (loss) income (7,411 ) 373 499 (6,539 ) Balance, September 30, 2018 $ (12,873 ) $ 384 $ (16,175 ) $ (28,664 ) Balance, December 31, 2016 $ (4,988 ) $ (141 ) $ (14,325 ) $ (19,454 ) Net Change 2,624 28 459 3,111 Balance, September 30, 2017 $ (2,364 ) $ (113 ) $ (13,866 ) $ (16,343 ) (1) See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Interest Rate Swaps The Corporation may use interest rate swap agreements to modify interest rate characteristics from variable to fixed or fixed to variable in order to reduce the impact of interest rate changes on future net interest income. Recorded amounts related to interest-rate swaps are included in other assets or liabilities. The Corporation’s credit exposure on interest rate swaps includes fair value and any collateral that is held by a third party. Changes in the fair value of derivative instruments designated as hedges of future cash flows are recognized in accumulated other comprehensive income until the underlying forecasted transactions occur, at which time the deferred gains and losses are recognized in earnings. For a qualifying fair value hedge, the gain or loss on the hedging instrument is recognized in earnings, and the change in fair value of the hedge item, to the extent attributable to the hedged risk, adjusts the carrying amount of the hedge item and is recognized in earnings. In 2014, the Corporation entered into an amortizing interest rate swap classified as a cash flow hedge with a notional amount of $20.0 million to hedge a portion of the debt financing of a pool of 10 -year maturity fixed rate loans with balances totaling $29.1 million , at time of the hedge, that were originated in 2013. A brokered money market demand account with a balance exceeding the amortizing interest rate swap balance is being used for the cash flow hedge. Under the terms of the swap agreement, the Corporation pays a fixed rate of 2.10% and receives a floating rate of one-month LIBOR . The swap matures in November 2022 . The Corporation performed an assessment of the hedge for effectiveness at the inception of the hedge and on a recurring basis to determine that the derivative has been and is expected to continue to be highly effective in offsetting changes in cash flows of the hedged item. At September 30, 2018 , approximately $95 thousand in net deferred gains, net of tax, recorded in accumulated other comprehensive loss are expected to be reclassified into earnings during the next twelve months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations, and the addition of other hedges subsequent to September 30, 2018 . At September 30, 2018 , the notional amount of the interest rate swap was $17.3 million , with a positive fair value of $485 thousand . The Corporation has an interest rate swap classified as a fair value hedge with a current notional amount of $1.4 million to hedge a 10 -year fixed rate loan that is earning interest at 5.83% . The Corporation pays a fixed rate of 5.83% and receives a floating rate based on the one-month LIBOR plus 350 basis points. The swap matures in October 2021. The difference between changes in the fair values of the interest rate swap agreement and the hedged loan represents hedge ineffectiveness and is recorded in other noninterest income in the consolidated statements of operations. The Corporation has an interest rate swap with a current notional amount of $445 thousand , for a 15 -year fixed rate loan that is earning interest at 7.43% . The Corporation pays a fixed rate of 7.43% and receives a floating rate based on the one-month LIBOR plus 224 basis points. The swap matures in April 2022. The interest rate swap is carried at fair value in accordance with FASB ASC 815 "Derivatives and Hedging." The loan is carried at fair value under the fair value option as permitted by FASB ASC 825 "Financial Instruments." Credit Derivatives The Corporation has agreements with third-party financial institutions whereby the third-party financial institution enters into interest rate derivative contracts with loan customers referred to them by the Corporation. By the terms of the agreements, the third-party financial institution has recourse to the Corporation for any exposure created under each swap contract in the event the customer defaults on the swap agreement and the agreement is in a paying position to the third-party financial institution. These transactions represent credit derivatives and are a customary arrangement that allows the Corporation to provide access to interest rate transactions for customers without creating the swap. The Corporation records the fair value of credit derivatives in other liabilities on the consolidated balance sheets. The Corporation recognizes changes in the fair value of credit derivatives, net of any fees received, in other noninterest income in the consolidated statements of income. At September 30, 2018 , the Corporation has sixteen variable-rate to fixed-rate interest rate swap transactions between the third-party financial institution and customers with a current notional amount of $84.7 million and remaining maturities ranging from one to 10 years. At September 30, 2018 , the fair value of the swaps to the customers was a liability of $24 thousand and all swaps were in paying positions to the third-party financial institution. The maximum potential payments by the Corporation to the third-party financial institution under these credit derivatives are not estimable as they are contingent on future interest rates and the agreement does not provide for a limitation of the maximum potential payment amount. Mortgage Banking Derivatives Derivative loan commitments represent agreements for delayed delivery of financial instruments in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. The Corporation’s derivative loan commitments are commitments to sell loans secured by 1-to 4-family residential properties whose predominant risk characteristic is interest rate risk. The fair values of these derivative loan commitments are based upon the estimated amount the Corporation would receive or pay to terminate the contracts or agreements, taking into account current interest rates and, when appropriate, the current creditworthiness of the counterparties. Derivatives Tables The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the consolidated balance sheets at September 30, 2018 and December 31, 2017 . The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts. Derivative Assets Derivative Liabilities (Dollars in thousands) Notional Balance Sheet Fair Balance Sheet Fair At September 30, 2018 Interest rate swap - cash flow hedge $ 17,269 Other assets $ 485 $ — Interest rate swap - fair value hedge 1,357 Other assets 20 — Total $ 18,626 $ 505 $ — At December 31, 2017 Interest rate swap - cash flow hedge $ 17,836 Other assets $ 13 $ — Interest rate swap - fair value hedge 1,388 — Other liabilities 12 Total $ 19,224 $ 13 $ 12 The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the consolidated balance sheets at September 30, 2018 and December 31, 2017 : Derivative Assets Derivative Liabilities (Dollars in thousands) Notional Balance Sheet Fair Balance Sheet Fair At September 30, 2018 Interest rate swap $ 445 $ — Other liabilities $ 20 Credit derivatives 84,709 — Other liabilities 24 Interest rate locks with customers 23,529 Other assets 305 — Forward loan sale commitments 23,884 Other assets 53 — Total $ 132,567 $ 358 $ 44 At December 31, 2017 Interest rate swap $ 523 $ — Other liabilities $ 38 Credit derivatives 75,622 — Other liabilities 36 Interest rate locks with customers 27,411 Other assets 527 — Forward loan sale commitments 29,037 Other assets 61 — Total $ 132,593 $ 588 $ 74 The following table presents amounts included in the consolidated statements of income for derivatives designated as hedging instruments for the periods indicated: Statement of Income Three Months Ended Nine Months Ended (Dollars in thousands) 2018 2017 2018 2017 Interest rate swap—cash flow hedge—net interest payments Interest expense $ 1 $ 41 $ 27 $ 148 Interest rate swap—fair value hedge—ineffectiveness Other noninterest income 1 — 3 5 Net loss $ — $ (41 ) $ (24 ) $ (143 ) The following table presents amounts included in the consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated: Statement of Income Classification Three Months Ended Nine Months Ended (Dollars in thousands) 2018 2017 2018 2017 Credit derivatives Other noninterest income $ 48 $ 25 $ 87 $ 149 Interest rate locks with customers Net (loss) gain on mortgage banking activities (328 ) (129 ) (223 ) 433 Forward loan sale commitments Net gain (loss) on mortgage banking activities 144 (166 ) (8 ) (258 ) Total $ (136 ) $ (270 ) $ (144 ) $ 324 The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at September 30, 2018 and December 31, 2017 : (Dollars in thousands) Accumulated Other At September 30, 2018 At December 31, 2017 Interest rate swap—cash flow hedge Fair value, net of taxes $ 383 $ 9 Total $ 383 $ 9 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Fair Value Disclosures Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Corporation determines the fair value of financial instruments based on the fair value hierarchy. The Corporation maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Corporation. Unobservable inputs are inputs that reflect the Corporation’s assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances, including assumptions about risk. Three levels of inputs are used to measure fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input significant to the fair value measurement. Transfers between levels are recognized at the end of the reporting period. Level 1: Valuations are based on quoted prices in active markets for identical assets or liabilities that the Corporation can access at the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Level 2: Valuations are based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3: Valuations are based on inputs that are unobservable and significant to the overall fair value measurement. Assets and liabilities utilizing Level 3 inputs include: financial instruments whose value is determined using pricing models, discounted cash-flow methodologies, or similar techniques, as well as instruments for which the fair value calculation requires significant management judgment or estimation. Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy. Investment Securities Where quoted prices are available in an active market for identical instruments, investment securities are classified within Level 1 of the valuation hierarchy. Level 1 investment securities include U.S. Treasury securities, most equity securities and money market mutual funds. Mutual funds are registered investment companies which are valued at net asset value of shares on a market exchange at the end of each trading day. Level 2 of the valuation hierarchy includes securities issued by U.S. Government sponsored enterprises, mortgage-backed securities, collateralized mortgage obligations, corporate and municipal bonds and certain equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. In cases where there is limited activity or less transparency around inputs to the valuation, investment securities are classified within Level 3 of the valuation hierarchy. Fair values for securities are determined using independent pricing services and market-participating brokers. The Corporation’s independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the pricing service’s evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. If at any time, the pricing service determines that it does not have sufficient verifiable information to value a particular security, the Corporation will utilize valuations from another pricing service. Management has a sufficient understanding of the third party service’s valuation models, assumptions and inputs used in determining the fair value of securities to enable management to maintain an appropriate system of internal control. Certain corporate bonds owned by the Corporation are classified as Level 3 as they are not traded in active markets. The fair value of each bond is estimated by benchmarking similar transactions of structure, yield and credit which are owned by the Corporation and are actively traded in the market. On a quarterly basis, the Corporation reviews changes, as submitted by the pricing service, in the market value of its security portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. If, upon the Corporation’s review or in comparing with another service, a material difference between pricing evaluations were to exist, the Corporation may submit an inquiry to the current pricing service regarding the data used to determine the valuation of a particular security. If the Corporation determines there is market information that would support a different valuation than from the current pricing service’s evaluation, the Corporation may utilize and change the security's valuation. There were no material differences in valuations noted at September 30, 2018 . Derivative Financial Instruments The fair values of derivative financial instruments are based upon the estimated amount the Corporation would receive or pay to terminate the contracts or agreements, taking into account current interest rates and, when appropriate, the current creditworthiness of the counterparties. Interest rate swaps and mortgage banking derivative financial instruments are classified within Level 2 of the valuation hierarchy. Credit derivatives are valued based on credit worthiness of the underlying borrower which is a significant unobservable input and therefore classified in Level 3 of the valuation hierarchy. Two commercial loans associated with interest rate swaps are classified in Level 3 of the valuation hierarchy since lending credit risk is not an observable input for these loans. The unrealized gain on the two loans was $6 thousand at September 30, 2018 . Contingent Consideration Liability The Corporation estimates the fair value of the contingent consideration liability by using a discounted cash flow model of future contingent payments based on projected revenue related to the acquired business. The estimated fair value of the contingent consideration liability is reviewed on a quarterly basis and any valuation adjustments resulting from a change of estimated future contingent payments based on projected revenue of the acquired business affecting the contingent consideration liability will be recorded through noninterest expense. Due to the significant unobservable input related to the projected revenue, the contingent consideration liability is classified within Level 3 of the valuation hierarchy. An increase in the projected revenue may result in a higher fair value of the contingent consideration liability. Alternatively, a decrease in the projected revenue may result in a lower estimated fair value of the contingent consideration liability. The following table presents the assets and liabilities measured at fair value on a recurring basis at September 30, 2018 and December 31, 2017 , classified using the fair value hierarchy: At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Assets/ Assets: Available-for-sale securities: U.S. government corporations and agencies $ — $ 15,316 $ — $ 15,316 State and political subdivisions — 67,892 — 67,892 Residential mortgage-backed securities — 156,414 — 156,414 Collateralized mortgage obligations — 2,981 — 2,981 Corporate bonds — 67,923 26,407 94,330 Total available-for-sale securities — 310,526 26,407 336,933 Equity securities: Equity securities - financial services industry 1,103 — — 1,103 Money market mutual funds 1,161 — — 1,161 Total equity securities 2,264 — — 2,264 Loans* — — 1,801 1,801 Interest rate swaps* — 505 — 505 Interest rate locks with customers* — 305 — 305 Forward loan sale commitments* — 53 — 53 Total assets $ 2,264 $ 311,389 $ 28,208 $ 341,861 Liabilities: Contingent consideration liability $ — $ — $ 310 $ 310 Interest rate swaps* — 20 — 20 Credit derivatives* — — 24 24 Total liabilities $ — $ 20 $ 334 $ 354 At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Assets/ Assets: Available-for-sale securities: U.S. government corporations and agencies $ — $ 16,961 $ — $ 16,961 State and political subdivisions — 78,297 — 78,297 Residential mortgage-backed securities — 185,421 — 185,421 Collateralized mortgage obligations — 3,602 — 3,602 Corporate bonds — 79,190 27,986 107,176 Total available-for-sale securities — 363,471 27,986 391,457 Equity securities: Equity securities - financial services industry 1,076 — — 1,076 Money market mutual funds 5,985 — — 5,985 Total equity securities 7,061 — — 7,061 Loans* — — 1,958 1,958 Interest rate swap* — 13 — 13 Interest rate locks with customers* — 527 — 527 Forward loan sale commitments* — 61 — 61 Total assets $ 7,061 $ 364,072 $ 29,944 $ 401,077 Liabilities: Contingent consideration liability $ — $ — $ 339 $ 339 Interest rate swaps* — 50 — 50 Credit derivatives* — — 36 36 Total liabilities $ — $ 50 $ 375 $ 425 * Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities." The following table includes a rollforward of corporate bonds, loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 (Dollars in thousands) Balance at Purchases/additions Sales Payments received Premium amortization, net (Decrease) increase in value Balance at September 30, 2018 Corporate bonds $ 27,986 $ — $ — $ — $ — $ (1,579 ) $ 26,407 Loans 1,958 — — (110 ) — (47 ) 1,801 Credit derivatives (36 ) (75 ) — — — 87 (24 ) Net total $ 29,908 $ (75 ) $ — $ (110 ) $ — $ (1,539 ) $ 28,184 Nine Months Ended September 30, 2017 (Dollars in thousands) Balance at Purchases/additions Sales Payments received Premium amortization, net (Decrease) increase in value Balance at September 30, 2017 Corporate bonds $ 28,778 $ — $ — $ — $ — $ (233 ) $ 28,545 Loans 2,138 — — (102 ) — (22 ) 2,014 Credit derivatives (9 ) (272 ) — — — 149 (132 ) Net total $ 30,907 $ (272 ) $ — $ (102 ) $ — $ (106 ) $ 30,427 The following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 (Dollars in thousands) Balance at Contingent Payment of Adjustment Balance at September 30, 2018 Girard Partners 339 — 67 38 310 Total contingent consideration liability $ 339 $ — $ 67 $ 38 $ 310 Nine Months Ended September 30, 2017 (Dollars in thousands) Balance at Contingent Payment of Adjustment Balance at September 30, 2017 Sterner Insurance Associates $ 331 $ — $ 30 $ (301 ) $ — Girard Partners 5,668 — 5,350 41 359 Total contingent consideration liability $ 5,999 $ — $ 5,380 $ (260 ) $ 359 The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or impairment charges of individual assets. The following table represents assets measured at fair value on a non-recurring basis at September 30, 2018 and December 31, 2017 : At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Assets at Impaired loans held for investment $ — $ — $ 27,674 $ 27,674 Impaired leases held for investment — — 1,250 1,250 Other real estate owned — — 1,433 1,433 Total $ — $ — $ 30,357 $ 30,357 At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Assets at Impaired loans held for investment $ — $ — $ 28,351 $ 28,351 Impaired leases held for investment — — 1,250 1,250 Other real estate owned — — 1,843 1,843 Total $ — $ — $ 31,444 $ 31,444 The following table presents assets and liabilities and off-balance sheet items not measured at fair value on a recurring or non-recurring basis in the Corporation’s consolidated balance sheets but for which the fair value is required to be disclosed at September 30, 2018 and December 31, 2017 . The disclosed fair values are classified using the fair value hierarchy. At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Fair Carrying Assets: Cash and short-term interest-earning assets $ 84,110 $ — $ — $ 84,110 $ 84,110 Held-to-maturity securities — 105,642 — 105,642 108,142 Federal Home Loan Bank, Federal Reserve Bank and other stock NA NA NA NA 33,071 Loans held for sale — 114 — 114 106 Net loans and leases held for investment — — 3,794,987 3,794,987 3,808,073 Servicing rights — — 11,935 11,935 6,715 Total assets $ 84,110 $ 105,756 $ 3,806,922 $ 3,996,788 $ 4,040,217 Liabilities: Deposits: Demand and savings deposits, non-maturity $ 3,148,565 $ — $ — $ 3,148,565 $ 3,148,565 Time deposits — 661,806 — 661,806 671,483 Total deposits 3,148,565 661,806 — 3,810,371 3,820,048 Short-term borrowings — 86,765 — 86,765 86,765 Long-term debt — 142,862 — 142,862 145,430 Subordinated notes — 96,063 — 96,063 94,514 Total liabilities $ 3,148,565 $ 987,496 $ — $ 4,136,061 $ 4,146,757 Off-Balance-Sheet: Commitments to extend credit $ — $ (2,508 ) $ — $ (2,508 ) $ — At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Fair Carrying Assets: Cash and short-term interest-earning assets $ 75,409 $ — $ — $ 75,409 $ 75,409 Held-to-maturity securities — 55,320 — 55,320 55,564 Federal Home Loan Bank, Federal Reserve Bank and other stock NA NA NA NA 27,204 Loans held for sale — 1,676 — 1,676 1,642 Net loans and leases held for investment — — 3,547,451 3,547,451 3,566,953 Servicing rights — — 10,046 10,046 6,573 Total assets $ 75,409 $ 56,996 $ 3,557,497 $ 3,689,902 $ 3,733,345 Liabilities: Deposits: Demand and savings deposits, non-maturity $ 2,980,170 $ — $ — $ 2,980,170 $ 2,980,170 Time deposits — 574,737 — 574,737 574,749 Total deposits 2,980,170 574,737 — 3,554,907 3,554,919 Short-term borrowings — 105,431 — 105,431 105,431 Long-term debt — 156,834 — 156,834 155,828 Subordinated notes — 98,075 — 98,075 94,331 Total liabilities $ 2,980,170 $ 935,077 $ — $ 3,915,247 $ 3,910,509 Off-Balance-Sheet: Commitments to extend credit $ — $ (2,414 ) $ — $ (2,414 ) $ — The following valuation methods and assumptions were used by the Corporation in estimating the fair value for financial instruments measured at fair value on a non-recurring basis and financial instruments not measured at fair value on a recurring or non-recurring basis in the Corporation’s consolidated balance sheets but for which the fair value is required to be disclosed: Cash and short-term interest-earning assets: The carrying amounts reported in the balance sheet for cash and due from banks, interest-earning deposits with other banks, federal funds sold and other short-term investments is their stated value. Cash and short-term interest-earning assets are classified within Level 1 in the fair value hierarchy. Held-to-maturity securities: Fair values for the held-to-maturity investment securities are estimated by using pricing models or quoted prices of securities with similar characteristics and are classified in Level 2 in the fair value hierarchy. Federal Home Loan Bank, Federal Reserve Bank and other stock: It is not practical to determine the fair values of Federal Home Loan Bank, Federal Reserve Bank and other stock, due to restrictions placed on their transferability. Loans held for sale: The fair value of the Corporation’s mortgage loans held for sale are generally determined using a pricing model based on current market information obtained from external sources, including interest rates, bids or indications provided by market participants on specific loans that are actively marketed for sale. These loans are primarily residential mortgage loans and are generally classified in Level 2 due to the observable pricing data. Loans held for sale are carried at the lower of cost or estimated fair value. There were no valuation adjustments for loans held for sale at September 30, 2018 and December 31, 2017 . Loans and leases held for investment: As of September 30, 2018 , t he fair values for loans and leases held for investment are estimated using discounted cash flow analyses, using a discount rate based on current interest rates at which similar loans with similar terms would be made to borrowers, adjusted as appropriate to consider credit, liquidity and marketability factors to arrive at a fair value that represents the Corporation's exit price at which these instruments would be sold or transferred. As of December 31, 2017 , t he fair values for loans and leases held for investment were estimated using discounted cash flow analyses, using a discount rate based on current interest rates at which similar loans with similar terms would be made to borrowers and include components for credit risk, operating expense and embedded prepayment options. An overall valuation adjustment was made for specific credit risks in addition to general portfolio risk and is significant to the valuation. Loans and leases are classified within Level 3 in the fair value hierarchy. Impaired loans and leases held for investment: For impaired loans and leases, the Corporation uses a variety of techniques to measure fair value, such as using the current appraised value of the collateral, agreements of sale, discounting the contractual cash flows, and analyzing market data that the Corporation may adjust due to specific characteristics of the loan/lease or collateral. At September 30, 2018 , impaired loans held for investment had a carrying amount of $28.7 million with a valuation allowance of $1.0 million . At December 31, 2017 , impaired loans held for investment had a carrying amount of $28.5 million with a valuation allowance of $131 thousand . The Corporation had impaired leases of $1.3 million with no reserve at September 30, 2018 and December 31, 2017 . Servicing rights: The Corporation estimates the fair value of mortgage servicing rights using discounted cash flow models that calculate the present value of estimated future net servicing income. The model uses readily available prepayment speed assumptions for the interest rates of the portfolios serviced. Mortgage servicing rights are classified within Level 3 in the fair value hierarchy based upon management's assessment of the inputs. The Corporation reviews the mortgage servicing rights portfolio on a quarterly basis for impairment and the mortgage servicing rights are carried at the lower of amortized cost or estimated fair value. The Corporation also records servicing rights on SBA loans. At September 30, 2018 and December 31, 2017 , servicing rights had a carrying amount of $6.7 million and $6.6 million , respectively, with no valuation allowance. Goodwill and other identifiable assets: Certain non-financial assets subject to measurement at fair value on a non-recurring basis include goodwill and other identifiable intangible assets. During the nine months ended September 30, 2018 , there were no triggering events that required valuation of goodwill and other identifiable intangible assets. Other real estate owned: The fair value of other real estate owned (OREO) is originally estimated based upon the appraised value less estimated costs to sell. The fair value less cost to sell becomes the "original cost" of the OREO asset. Subsequently, OREO is reported at the lower of the original cost or the current fair value less cost to sell. Capital improvement expenses associated with the construction or repair of the property are capitalized as part of the cost of the OREO asset; however, the capitalized expenses may not increase the OREO asset's recorded value to an amount greater than the asset's fair value after improvements and less cost to sell. New appraisals are generally obtained on an annual basis if an agreement of sale does not exist. During the nine months ended September 30, 2018 , two properties had write-downs totaling $503 thousand , four properties were transferred into OREO with a fair value of $477 thousand and three properties were sold with total proceeds of $362 thousand . At September 30, 2018 and December 31, 2017 , OREO had a carrying amount of $1.4 million and $1.8 million , respectively. Other real estate owned is classified within Level 3 of the valuation hierarchy due to the unique characteristics of the collateral for each loan. Deposit liabilities: The fair values for demand and savings accounts, with no stated maturities, is the amount payable on demand at the reporting date (carrying value) and are classified within Level 1 in the fair value hierarchy. The fair values for time deposits with fixed maturities are estimated by discounting the final maturity using interest rates currently offered for deposits with similar remaining maturities. Time deposits are classified within Level 2 in the fair value hierarchy. Short-term borrowings: The fair value of short-term borrowings are estimated using current market rates for similar borrowings and are classified within Level 2 in the fair value hierarchy. Long-term debt: The fair value of long-term debt is estimated by using discounted cash flow analysis, based on current market rates for debt with similar terms and remaining maturities. Long-term debt is classified within Level 2 in the fair value hierarchy. Subordinated notes: The fair value of the subordinated notes are estimated by discounting the principal balance using the treasury yield curve for the term to the call date as the Corporation has the option to call the subordinated notes. The subordinated notes are classified within Level 2 in the fair value hierarchy. Off-balance-sheet instruments: Fair values for the Corporation’s off-balance-sheet instruments are based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing and are classified within Level 2 in the fair value hierarchy. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting At September 30, 2018 , the Corporation has three reportable business segments: Banking, Wealth Management and Insurance. The Corporation determines the segments based primarily upon product and service offerings, through the types of income generated and the regulatory environment. This is strategically how the Corporation operates and has positioned itself in the marketplace. Accordingly, significant operating decisions are based upon analysis of each of these segments. The parent holding company and intercompany eliminations are included in the "Other" segment. The Corporation's Banking segment consists of commercial, consumer and mortgage banking as well as lease financing. The Wealth Management segment consists of investment advisory services, retirement plan services, trust, municipal pension services and broker/dealer services. The Insurance segment consists of commercial lines, personal lines, benefits and human resources consulting. Each segment generates revenue from a variety of products and services it provides. Examples of products and services provided for each reportable segment are indicated below. ● The Banking segment provides financial services to consumer and commercial customers and governmental units. These services include a full range of banking services such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing. ● The Wealth Management segment offers trust and investment advisory services, guardian and custodian of employee benefits and other trust and brokerage services, as well as a registered investment advisory managing private investment accounts for both individuals and institutions. ● The Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, group life and health coverage, employee benefit solutions, personal insurance lines and human resources consulting. The following table provides total assets by reportable business segment as of the dates indicated. (Dollars in thousands) At September 30, 2018 At December 31, 2017 At September 30, 2017 Banking $ 4,711,093 $ 4,466,301 $ 4,327,920 Wealth Management 38,042 34,600 34,903 Insurance 29,299 27,846 25,139 Other 23,564 26,115 29,401 Consolidated assets $ 4,801,998 $ 4,554,862 $ 4,417,363 The following tables provide reportable segment-specific information and reconciliations to consolidated financial information for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 49,238 $ 9 $ — $ 8 $ 49,255 Interest expense 7,571 — — 1,261 8,832 Net interest income 41,667 9 — (1,253 ) 40,423 Provision for loan and lease losses 2,745 — — — 2,745 Noninterest income 5,070 5,795 3,845 151 14,861 Intangible expenses 240 136 103 — 479 Other noninterest expense 26,542 3,547 3,087 716 33,892 Intersegment (revenue) expense* (512 ) 377 135 — — Income (expense) before income taxes 17,722 1,744 520 (1,818 ) 18,168 Income tax (benefit) expense 3,171 493 156 (616 ) 3,204 Net income (loss) $ 14,551 $ 1,251 $ 364 $ (1,202 ) $ 14,964 Capital expenditures $ 570 $ 73 $ 16 $ 86 $ 745 Three Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 42,161 $ 4 $ — $ 7 $ 42,172 Interest expense 4,031 — — 1,254 5,285 Net interest income 38,130 4 — (1,247 ) 36,887 Provision for loan and lease losses 2,689 — — — 2,689 Noninterest income 4,993 5,428 3,620 68 14,109 Intangible expenses 357 168 165 — 690 Other noninterest expense 25,733 3,472 2,803 (3 ) 32,005 Intersegment (revenue) expense* (264 ) 146 118 — — Income (expense) before income taxes 14,608 1,646 534 (1,176 ) 15,612 Income tax expense (benefit) 4,033 648 224 (489 ) 4,416 Net income (loss) $ 10,575 $ 998 $ 310 $ (687 ) $ 11,196 Capital expenditures $ 582 $ 5 $ 3 $ 178 $ 768 Nine Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 139,204 $ 22 $ — $ 23 $ 139,249 Interest expense 18,781 — — 3,783 22,564 Net interest income 120,423 22 — (3,760 ) 116,685 Provision for loan and lease losses 20,207 — — — 20,207 Noninterest income 15,320 17,397 12,835 205 45,757 Intangible expenses 898 415 372 — 1,685 Restructuring charges 571 — — — 571 Other noninterest expense 80,790 10,969 9,425 403 101,587 Intersegment (revenue) expense* (1,098 ) 686 412 — — Income (expense) before income taxes 34,375 5,349 2,626 (3,958 ) 38,392 Income tax expense (benefit) 5,006 1,636 775 (1,196 ) 6,221 Net income (loss) $ 29,369 $ 3,713 $ 1,851 $ (2,762 ) $ 32,171 Capital expenditures $ 2,360 $ 162 $ 25 $ 151 $ 2,698 Nine Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 120,575 $ 6 $ — $ 17 $ 120,598 Interest expense 10,352 — — 3,776 14,128 Net interest income 110,223 6 — (3,759 ) 106,470 Provision for loan and lease losses 7,900 — — — 7,900 Noninterest income 16,945 15,965 11,913 265 45,088 Intangible expenses 1,151 506 238 — 1,895 Other noninterest expense 74,949 10,404 8,718 1,307 95,378 Intersegment (revenue) expense* (792 ) 438 354 — — Income (expense) before income taxes 43,960 4,623 2,603 (4,801 ) 46,385 Income tax expense (benefit) 11,754 1,812 1,095 (2,106 ) 12,555 Net income (loss) $ 32,206 $ 2,811 $ 1,508 $ (2,695 ) $ 33,830 Capital expenditures $ 6,921 $ 27 $ 202 $ 262 $ 7,412 * Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. These expenses are generally allocated based upon number of employees and square footage utilized. |
Revenue From Contracts with Cus
Revenue From Contracts with Customers Revenue From Contracts with Customers | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer | Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers (Topic 606)” and subsequent related updates. The Corporation adopted the guidance effective January 1, 2018 using the modified retrospective method though no adjustments were made to retained earnings as a result of the adoption. The Corporation’s revenue is the sum of net interest income and noninterest income. Revenues are recognized when obligations under the terms of contracts with customers are satisfied, including the transfer of control of the promised goods or services to customers, in an amount that reflects the consideration the Corporation expects to be entitled to in exchange for those goods or services. The Corporation provides services to customers which have related performance obligations that are completed to recognize revenue. The Corporation's revenues are generally recognized either immediately upon the completion of the services or over time as the services are performed. Any services performed over time generally require services to be rendered each period and therefore progress in completing these services is measured based upon the passage of time. The following tables disaggregate the Corporation's revenue by major source for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 41,667 $ 9 $ — $ (1,253 ) $ 40,423 Noninterest income: Trust fee income — 1,960 — — 1,960 Service charges on deposit accounts 1,454 — — — 1,454 Investment advisory commission and fee income — 3,785 — — 3,785 Insurance commission and fee income — — 3,643 — 3,643 Other service fee income (2) 2,032 50 202 — 2,284 Bank owned life insurance income (1) 708 — — 157 865 Net gain on mortgage banking activities (1) 754 — — — 754 Other (loss) income (2) 122 — — (6 ) 116 Total noninterest income $ 5,070 $ 5,795 $ 3,845 $ 151 $ 14,861 Three Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 38,130 $ 4 $ — $ (1,247 ) $ 36,887 Noninterest income: Trust fee income — 1,924 — — 1,924 Service charges on deposit accounts 1,371 — — — 1,371 Investment advisory commission and fee income — 3,455 — — 3,455 Insurance commission and fee income — — 3,492 — 3,492 Other service fee income (2) 1,947 49 127 — 2,123 Bank owned life insurance income (1) 675 — — 67 742 Net gain on sales of investment securities (1) 6 — — 1 7 Net gain on mortgage banking activities (1) 908 — — — 908 Other income (2) 86 — 1 — 87 Total noninterest income $ 4,993 $ 5,428 $ 3,620 $ 68 $ 14,109 Nine Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 120,423 $ 22 $ — $ (3,760 ) $ 116,685 Noninterest income: Trust fee income — 6,000 — — 6,000 Service charges on deposit accounts 4,116 — — — 4,116 Investment advisory commission and fee income — 11,246 — — 11,246 Insurance commission and fee income — — 12,243 — 12,243 Other service fee income (2) 6,139 151 594 — 6,884 Bank owned life insurance income (1) 2,567 — — 177 2,744 Net gain on sales of investment securities (1) 10 — — — 10 Net gain on mortgage banking activities (1) 2,412 — — — 2,412 Other (loss) income (2) 76 — (2 ) 28 102 Total noninterest income $ 15,320 $ 17,397 $ 12,835 $ 205 $ 45,757 Nine Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 110,223 $ 6 $ — $ (3,759 ) $ 106,470 Noninterest income: Trust fee income — 5,847 — — 5,847 Service charges on deposit accounts 3,927 — — — 3,927 Investment advisory commission and fee income — 9,969 — — 9,969 Insurance commission and fee income — — 11,530 — 11,530 Other service fee income (2) 5,825 149 381 — 6,355 Bank owned life insurance income (1) 2,886 — — 261 3,147 Net gain on sales of investment securities (1) 39 — — 4 43 Net gain on mortgage banking activities (1) 3,558 — — — 3,558 Other income (2) 710 — 2 — 712 Total noninterest income $ 16,945 $ 15,965 $ 11,913 $ 265 $ 45,088 (1) Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. (2) Other service fee income and other income include certain items that are in scope and certain items that are out of scope of the standard and are described further in the following paragraphs. Banking Segment The Banking segment provides financial services to consumer and commercial customers and governmental units. These services include a full range of banking services such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing. Service charges on deposit accounts are generally earned on depository accounts for commercial and consumer customers and primarily includes fees for account services, overdraft services, and cash management services for commercial customers. Account services include fees for event-driven services such as ATM transactions and fees for periodic account maintenance activities. Cash management services for commercial customers include fees for event-driven services such as lockbox processing and line sweep services and fees for periodic account maintenance activities. The Corporation's obligation for event-driven services is satisfied at the time of the event when the service is delivered, while the obligation for periodic services is satisfied over the course of each month. Obligations for overdraft services is satisfied at the time of the overdraft. Other service fee income is earned from commercial and consumer customers and primarily includes credit and debit card interchange and merchant revenues, mortgage servicing income, which is out of scope of the standard, and other deposit related service fee income such as wire transfers, check services and safe deposit boxes. Interchange and merchant revenues are recognized concurrently with the delivery of services on a monthly basis. Other deposit related service fee income include fees for event-driven services, such as wire transfers and check services, and fees for periodic services such as safe deposit box services. The obligation for event-driven services is satisfied at the time of the event when the service is delivered, while the obligation for periodic services is satisfied over the course of each month. Other income primarily includes net gains or losses from the sales of loans and leases, net gains or losses from the sales or disposition of fixed assets and net gains or losses on interest rate swaps, all of which are out of scope of the standard, and net gains or losses on sales and write-downs of other real estate owned. Net gains or losses on sales of other real estate owned are recognized at the point in time in which control of the other real estate owned is transferred. Wealth Management Segment The wealth management segment offers trust and investment advisory services, guardian and custodian of employee benefits and other trust and brokerage services, as well as a registered investment advisory managing private investment accounts for both individuals and institutions. Trust fee income is earned for providing trust, investment management and other related services. Obligations for trust and other related services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature and obligations for investment management services are generally performed over time. Fees for trust fee income are typically based on a tiered scale relative to the market value of assets under management and are recognized in conjunction with the delivery of services. Investment advisory commission and fee income include fees for financial planning, guardian and custodian of employee benefits, investment advisory, and brokerage services. Obligations for financial planning, guardian and custodian of employee benefits, and investment advisory services are generally satisfied over time and fees, typically based on a tiered scale relative to the market value of assets under management are recognized in conjunction with the delivery of services. Brokerage services are typically event driven and are based on the size and number of transactions executed at the client’s direction and recognized on the trade date. Insurance Segment The insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, group life and health coverage, employee benefit solutions, personal insurance lines and human resources consulting. Insurance commission and fee income is derived primarily from commissions from the sale of insurance policies, which are generally calculated as a percentage of the policy premium, and contingent income, which is calculated based on the performance of the policies held by each carrier. Obligations for the sale of insurance policies are generally satisfied at the point in time which the policy is executed and are recognized at the point in time in which the amounts are known and collection is reasonably assured. Obligations for contingent income are generally satisfied over time and are recognized at the point in time in which the amounts are known and collection is reasonably assured. Other service fee income is earned from human resources consulting services. These obligations are generally satisfied over time and are recognized on a periodic basis. |
Restructuring Charges
Restructuring Charges | 9 Months Ended |
Sep. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Charges | Restructuring Charges During January 2018, the Corporation announced the closure of two owned financial centers and one leased financial center and reduced staff associated with these financial centers, resulting in accruing a loss of $571 thousand related to the Banking business segment. These financial centers were closed in April 2018. The remaining accrued restructuring expense at January 1, 2018 of $23 thousand relates to 2016 restructuring charges. A roll-forward of the remaining accrued restructuring expense for the nine months ended September 30, 2018 is as follows: (Dollars in thousands) Severance expenses Write-downs and retirements of fixed assets Lease cancellations Total Accrued at January 1, 2018 $ — $ — $ 23 $ 23 Restructuring charges 366 48 157 571 Payments (284 ) — (30 ) (314 ) Non-cash settlement — (48 ) — (48 ) Accrued at September 30, 2018 $ 82 $ — $ 150 $ 232 |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies Disclosure | Contingencies The Corporation is periodically subject to various pending and threatened legal actions, which involve claims for monetary relief. Based upon information presently available to the Corporation, it is the Corporation's opinion that any legal and financial responsibility arising from such claims will not have a material adverse effect on the Corporation's results of operations, financial position or cash flows. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Univest Corporation of Pennsylvania (the Corporation or Univest) and its wholly owned subsidiaries. The Corporation’s direct subsidiary is Univest Bank and Trust Co. (the Bank). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations for interim financial information. The accompanying unaudited consolidated financial statements reflect all adjustments which are of a normal recurring nature and are, in the opinion of management, necessary for a fair presentation of the financial statements for the interim periods presented. Certain prior period amounts have been reclassified to conform to the current-year presentation. Operating results for the nine -month period ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ended December 31, 2018 or for any other period. It is suggested that these unaudited consolidated financial statements be read in conjunction with the audited financial statements and the notes thereto included in the registrant’s Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on March 1, 2018 . |
Use of Estimates | Use of Estimates The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes include fair value measurement of investment securities available-for-sale, reserve for loan and lease losses and purchase accounting. |
Recent Accounting Pronouncements | In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-02, " Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." This ASU clarifies the accounting treatment of the reclassification of certain income tax effects within accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act. The Corporation elected to early adopt this guidance effective January 1, 2018 for all stranded tax effects resulting from tax reform and reclassified stranded tax effects, totaling $3.9 million , from accumulated other comprehensive income to retained earnings. The Corporation's policy for releasing income tax effects from accumulated other comprehensive income is to release such effects on an individual basis as each item is liquidated, sold or extinguished. See Note 10, "Accumulated Other Comprehensive (Loss) Income" for additional detail. In March 2017, the FASB issued ASU No. 2017-07, "Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." The amendments in this ASU require that an employer that sponsors defined benefit pension plans and other postretirement plans present the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. Other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. The Corporation adopted this guidance effective January 1, 2018 with retrospective application for prior period presentation. Effective January 1, 2018, components of net benefit income other than the service cost component are presented in the Corporation's statement of income in other noninterest expense rather than in salaries, benefits and commission expense. Prior period components of net benefit income other than the service cost component were reclassed to other noninterest expense in the Corporation's statement of income. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." This ASU addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The ASU requires equity investments to be measured at fair value with changes in fair value recognized in net income. At December 31, 2017 , the Corporation had financial services equity securities with a carrying value of $1.1 million which included an unrealized net gain of $666 thousand . At December 31, 2017 , $433 thousand was recorded in accumulated other comprehensive income which represented the unrealized net gain, net of income taxes, based on the Corporation’s statutory tax rate as of December 31, 2017. In addition, at December 31, 2017, the Corporation had money market mutual funds with a fair value and amortized cost of $6.0 million which were reclassified to equity securities under this guidance. The Corporation adopted this guidance effective January 1, 2018 with a cumulative-effect adjustment to the balance sheet as of January 1, 2018. The balance in accumulated other comprehensive income of $433 thousand was reclassified to retained earnings effective January 1, 2018. The carrying value of the equity securities, at January 1, 2018, did not change; however, any future increases or decreases in fair value is recorded as an increase or decrease to the carrying value and recognized in other noninterest income. During the nine months ended September 30, 2018 , the Corporation recognized a $26 thousand net gain on equity securities in other noninterest income. In May 2014, the FASB issued ASU No. 2014-09, " Revenue from Contracts with Customers (Topic 606)” and subsequent related updates. The Corporation adopted the guidance effective January 1, 2018 using the modified retrospective method though no adjustments were made to retained earnings as a result of the adoption. The Corporation provided expanded disclosures related to recognition of revenue from contracts with customers. See Note 14, "Revenue from Contracts with Customers." Recent Accounting Pronouncements Yet to Be Adopted In August 2018, the FASB issued ASU No. 2018-14, " Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans." The amendments in this ASU modify the disclosure requirements for employers that sponsor defined benefit plans or other postretirement plans. Disclosures removed by this ASU include the following: 1) amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year; 2) amount and timing of plan assets expected to be returned to the employer; and 3) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for postretirement health care benefits. Additional disclosures required by this ASU include: 1) the weighted-average interest crediting rates used in an entity's cash balance pension plans and other similar plans and 2) explanations for reasons for significant changes in the benefit obligation or plan assets. All amendments should be applied retrospectively. This ASU is effective for fiscal years ending after December 15, 2020 or December 31, 2020 for the Corporation. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statement disclosures but will result in revised disclosures for retirement plans and other postretirement benefits. In August 2018, the FASB issued ASU No. 2018-13, " Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement." This ASU applies to all entities that are required, under existing GAAP, to make disclosures about recurring or nonrecurring fair value measurements. Disclosures removed by this ASU are the amount and reasons for transfers between Level 1 and Level 2, the policy for timing of transfers between levels and the valuation processes for Level 3 measurements. This ASU modifies disclosures relating to investments in certain entities that calculate net asset value. Additional disclosures required by this ASU include: 1) change in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and 2) range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The prospective method of transition is required for the new disclosure requirements. The other amendments should be applied retrospectively. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years or January 1, 2020 for the Corporation. Early adoption is permitted. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements but will result in revised disclosures for fair value. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. " The amendments in this update expand and refine hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. Additional hedging strategies permitted for hedge accounting include: hedges of contractually-specified price components of commodity purchases or sales, hedges of the benchmark rate component of the contractual coupon cash flows of fixed-rate assets or liabilities, hedges of the portion of a closed portfolio of prepayable assets not expected to prepay, and partial-term hedges of fixed-rate assets or liabilities. The ASU amends the presentation and disclosure requirements and changes how entities assess effectiveness. The ASU eliminates the requirement to separately measure and report hedge ineffectiveness and requires all items that affect earnings be presented in the same income statement line as the hedged items. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, such as a regression analysis, if the entity can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. The ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities, or January 1, 2019 for the Corporation. Early adoption is permitted, including an interim period. The amended presentation and disclosure guidance is required only prospectively. The Corporation will adopt this ASU on January 1, 2019 and does not expect the adoption will have a material impact on the Corporation's financial statements. In March 2017, the FASB issued ASU No. 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.” This ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date rather than the maturity of the security. Securities within the scope of this guidance are those that have explicit, non-contingent call features that are callable at fixed prices and on preset dates. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, or January 1, 2019 for the Corporation. Early adoption is permitted, including an interim period. This ASU is to be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. At September 30, 2018 , the Corporation had $11.3 million of callable debt securities. Upon implementation, using the modified retrospective basis effective January 1, 2019, the Corporation expects to record a cumulative-effect adjustment resulting in a reduction in the unamortized premium balance for certain callable debt securities of approximately $50 thousand and a reduction in retained earnings of approximately $40 thousand , net of tax, for the incremental amortization. This estimate could change due to changes in the Corporation's investments in callable securities prior to the adoption date. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." This ASU eliminates Step 2 of the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. Public business entities that are SEC filers should adopt the amendments in this ASU for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, or for the Corporation's goodwill impairment test in 2020. Early adoption is permitted for goodwill impairment tests with measurement dates after January 1, 2017. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements. In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU requires businesses and other organizations to measure the current expected credit losses (CECL) on financial assets, such as loans, net investments in leases, certain debt securities, bond insurance and other receivables. The amendments affect entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. Current GAAP requires an incurred loss methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The amendments in this ASU replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonableness and supportable information to inform credit loss estimates. An entity should apply the amendments through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (modified-retrospective approach). Acquired credit impaired loans for which the guidance in Accounting Standards Codification (ASC) Topic 310-30 has been previously applied should prospectively apply the guidance in this ASU. A prospective transition approach is required for debt securities for which an other-than-temporary impairment has been recognized before the effective date. The ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those years for public business entities that are SEC filers, or January 1, 2020 for the Corporation. The Corporation is in the process of evaluating the impact of the adoption of this guidance on the Corporation's financial statements; however, it is anticipated that the reserve for loan and lease losses will increase upon adoption of CECL and that the increased reserve level will decrease shareholders' equity and regulatory capital and ratios. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" and subsequent related updates to revise the accounting for leases. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases based on the present value of future lease payments. Lessor accounting activities are largely unchanged from existing lease accounting. Disclosures will be required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Early adoption is permitted. This new guidance is effective for the first interim period within annual periods beginning after December 15, 2018, or January 1, 2019 for the Corporation. The Corporation expects to adopt this new guidance effective January 1, 2019, retrospectively at the beginning of the period of adoption through a cumulative-effect adjustment to retained earnings at January 1, 2019. The Corporation expects to elect the package of practical expedients permitted under the transition guidance which among other things, allows carry forward of the historical lease classification. All leases in which the Corporation is the lessee are classified as operating leases and will continue to be classified as such. The Corporation expects to continue to separately account for lease and non-lease components as historically reported and expects to elect the hindsight practical expedient to determine the lease term for existing leases. The Corporation is currently implementing a third party lease accounting system to assist with the measurement of lease liabilities and related right-of-use assets, the post-implementation administration aspect of lease accounting, and the applicable disclosures related to the new guidance. The Corporation has completed the initial scoping phase of the project, including the identification and review of lease contracts applicable to the new guidance, and is in the process of determining the estimated financial statement impact of the new guidance at the transition date. While the Corporation is continuing to assess the impact of this new guidance on the balance sheet and income statement, the Corporation expects to record between $30.0 million to $40.0 million of operating lease liabilities and related right-of-use assets at January 1, 2019, with any difference between these amounts, net of the deferred tax impact, recorded as an adjustment to opening retained earnings. These estimates, based on our active lease portfolio, may change as the Corporation continues through the implementation process, or due to changes in the lease portfolio, which could include new leases, changes in lease commencement dates, and changes to renewal options and lease termination expectations. The initial and continued impact of the recording of operating lease assets will have a negative impact on all Corporation and Bank capital ratios under current regulatory guidance and possibly equity ratios. |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share, Basic and Diluted [Abstract] | |
Summary of Computation for Basic and Diluted Earnings per Share | The Corporation uses the two-class method to calculate earnings per share as the unvested restricted stock issued under the Corporation's equity incentive plans are participating shares with nonforfeitable rights to dividends. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the number of weighted average shares outstanding during the period. The table also notes anti-dilutive options which are those options with weighted average exercise prices in excess of the weighted average market value for the periods presented. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended (Dollars and shares in thousands, except per share data) 2018 2017 2018 2017 Numerator: Net income $ 14,964 $ 11,196 $ 32,171 $ 33,830 Net income allocated to unvested restricted stock (86 ) (96 ) (225 ) (330 ) Net income allocated to common shares $ 14,878 $ 11,100 $ 31,946 $ 33,500 Denominator: Weighted average shares outstanding 29,402 26,666 29,387 26,653 Average unvested restricted stock (170 ) (229 ) (204 ) (265 ) Denominator for basic earnings per share— weighted-average shares outstanding 29,232 26,437 29,183 26,388 Effect of dilutive securities—employee stock options 86 105 92 102 Denominator for diluted earnings per share— adjusted weighted-average shares outstanding 29,318 26,542 29,275 26,490 Basic earnings per share $ 0.51 $ 0.42 $ 1.10 $ 1.27 Diluted earnings per share $ 0.51 $ 0.42 $ 1.09 $ 1.27 Average anti-dilutive options excluded from computation of diluted earnings per share 359 185 315 166 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized cost and estimated fair value of held to maturity securities and available for sale securities by contractual maturity | The following table shows the amortized cost and the estimated fair value of the held-to-maturity securities and available-for-sale securities at September 30, 2018 and December 31, 2017 , by contractual maturity within each type: At September 30, 2018 At December 31, 2017 (Dollars in thousands) Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value Securities Held-to-Maturity U.S. government corporations and agencies: After 1 year to 5 years $ 6,996 $ — $ (214 ) $ 6,782 $ 6,995 $ — $ (77 ) $ 6,918 6,996 — (214 ) 6,782 6,995 — (77 ) 6,918 Residential mortgage-backed securities: After 5 years to 10 years 12,190 — (279 ) 11,911 8,944 — (51 ) 8,893 Over 10 years 88,956 — (2,007 ) 86,949 39,625 44 (160 ) 39,509 101,146 — (2,286 ) 98,860 48,569 44 (211 ) 48,402 Total $ 108,142 $ — $ (2,500 ) $ 105,642 $ 55,564 $ 44 $ (288 ) $ 55,320 Securities Available-for-Sale U.S. government corporations and agencies: Within 1 year $ 15,153 $ — $ (131 ) $ 15,022 $ 1,499 $ — $ (3 ) $ 1,496 After 1 year to 5 years 303 — (9 ) 294 15,590 — (125 ) 15,465 15,456 — (140 ) 15,316 17,089 — (128 ) 16,961 State and political subdivisions: Within 1 year 5,943 — (11 ) 5,932 2,721 1 (6 ) 2,716 After 1 year to 5 years 12,569 15 (97 ) 12,487 16,787 33 (44 ) 16,776 After 5 years to 10 years 46,803 303 (631 ) 46,475 54,846 897 (73 ) 55,670 Over 10 years 3,120 — (122 ) 2,998 3,120 15 — 3,135 68,435 318 (861 ) 67,892 77,474 946 (123 ) 78,297 Residential mortgage-backed securities: After 1 year to 5 years 4,887 — (102 ) 4,785 3,913 12 (26 ) 3,899 After 5 years to 10 years 53,041 6 (2,231 ) 50,816 51,428 5 (852 ) 50,581 Over 10 years 105,808 22 (5,017 ) 100,813 133,237 87 (2,383 ) 130,941 163,736 28 (7,350 ) 156,414 188,578 104 (3,261 ) 185,421 Collateralized mortgage obligations: After 5 years to 10 years 1,772 — (108 ) 1,664 2,103 — (82 ) 2,021 Over 10 years 1,347 — (30 ) 1,317 1,567 14 — 1,581 3,119 — (138 ) 2,981 3,670 14 (82 ) 3,602 Corporate bonds: Within 1 year 2,506 — (10 ) 2,496 10,006 — (5 ) 10,001 After 1 year to 5 years 23,824 21 (442 ) 23,403 24,885 20 (147 ) 24,758 After 5 years to 10 years 16,152 2 (537 ) 15,617 16,669 71 (296 ) 16,444 Over 10 years 60,000 — (7,186 ) 52,814 60,000 — (4,027 ) 55,973 102,482 23 (8,175 ) 94,330 111,560 91 (4,475 ) 107,176 Equity securities:* No stated maturity N/A N/A N/A N/A 6,395 667 (1 ) 7,061 N/A N/A N/A N/A 6,395 667 (1 ) 7,061 Total $ 353,228 $ 369 $ (16,664 ) $ 336,933 $ 404,766 $ 1,822 $ (8,070 ) $ 398,518 |
Information Related to Sales of Securities Available-for-Sale | The following table presents information related to sales of securities available-for-sale during the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, (Dollars in thousands) 2018 2017 Securities available-for-sale: Proceeds from sales $ 1,010 $ 3,538 Gross realized gains on sales 10 43 Tax expense related to net realized gains on sales 2 15 |
Amount of Securities in Unrealized Loss Position | The following table shows the fair value of securities that were in an unrealized loss position at September 30, 2018 and December 31, 2017 by the length of time those securities were in a continuous loss position. For the investment securities in an unrealized loss position, the Corporation has concluded, based on its analysis, that the unrealized losses are primarily caused by the movement of interest rates and current market conditions. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the par value of the investment. It is more likely than not that the Corporation will not be required to sell the investments before a recovery of carrying value. Less than Twelve Months Total (Dollars in thousands) Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized At September 30, 2018 Securities Held-to-Maturity U.S. government corporations and agencies $ — $ — $ 6,782 $ (214 ) $ 6,782 $ (214 ) Residential mortgage-backed securities 89,833 (1,963 ) 9,027 (323 ) 98,860 (2,286 ) Total $ 89,833 $ (1,963 ) $ 15,809 $ (537 ) $ 105,642 $ (2,500 ) Securities Available-for-Sale U.S. government corporations and agencies $ — $ — $ 15,316 $ (140 ) $ 15,316 $ (140 ) State and political subdivisions 33,509 (777 ) 7,476 (84 ) 40,985 (861 ) Residential mortgage-backed securities 27,331 (972 ) 127,441 (6,378 ) 154,772 (7,350 ) Collateralized mortgage obligations 1,317 (30 ) 1,664 (108 ) 2,981 (138 ) Corporate bonds 21,162 (467 ) 69,644 (7,708 ) 90,806 (8,175 ) Total $ 83,319 $ (2,246 ) $ 221,541 $ (14,418 ) $ 304,860 $ (16,664 ) At December 31, 2017 Securities Held-to-Maturity U.S. government corporations and agencies $ 6,919 $ (77 ) $ — $ — $ 6,919 $ (77 ) Residential mortgage-backed securities 40,881 (211 ) — — 40,881 (211 ) Total $ 47,800 $ (288 ) $ — $ — $ 47,800 $ (288 ) Securities Available-for-Sale U.S. government corporations and agencies $ 5,213 $ (38 ) $ 11,749 $ (90 ) $ 16,962 $ (128 ) State and political subdivisions 18,457 (91 ) 6,332 (32 ) 24,789 (123 ) Residential mortgage-backed securities 32,217 (210 ) 141,371 (3,051 ) 173,588 (3,261 ) Collateralized mortgage obligations — — 2,021 (82 ) 2,021 (82 ) Corporate bonds 18,464 (1,016 ) 71,957 (3,459 ) 90,421 (4,475 ) Equity securities — (1 ) 4 — 4 (1 ) Total $ 74,351 $ (1,356 ) $ 233,434 $ (6,714 ) $ 307,785 $ (8,070 ) At September 30, 2018 , gross unrealized losses for securities available-for-sale in an unrealized loss position for twelve months or longer, totaled $14.4 million . Four federal agency bonds, sixteen investment grade corporate bonds, 114 federal agency residential mortgage securities, nine investment grade municipal bonds and one collateralized mortgage obligation bond had respective unrealized loss positions of $140 thousand , $7.7 million , $6.4 million , $84 thousand and $108 thousand , respectively. The fair value of these 114 securities fluctuate with changes in market conditions which for these underlying securities is primarily due to changes in the interest rate environment. The Corporation does not intend to sell the securities in an unrealized loss position and is unlikely to be required to sell these securities before a recovery of fair value, which may be maturity. Upon review of the attributes of the individual securities, the Corporation concluded these securities were not other-than-temporarily impaired. The Corporation did not recognize any other-than-temporary impairment charges on debt securities for the nine months ended September 30, 2018 and 2017 . In conjunction with the adoption of ASU 2016-01, the Corporation recognized a $26 thousand net gain on equity securities during the nine months ended September 30, 2018 in other noninterest income and the net unrealized gain on equity securities held at September 30, 2018 was $26 thousand . See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. |
Loans and Leases (Tables)
Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Summary of Major Loan and Lease Categories | At September 30, 2018 (Dollars in thousands) Originated Acquired Total Commercial, financial and agricultural $ 867,636 $ 26,686 $ 894,322 Real estate-commercial 1,442,681 254,462 1,697,143 Real estate-construction 188,895 3,742 192,637 Real estate-residential secured for business purpose 279,800 66,531 346,331 Real estate-residential secured for personal purpose 327,833 52,676 380,509 Real estate-home equity secured for personal purpose 177,632 9,349 186,981 Loans to individuals 32,096 142 32,238 Lease financings 136,008 — 136,008 Total loans and leases held for investment, net of deferred income $ 3,452,581 $ 413,588 $ 3,866,169 Unearned lease income, included in the above table $ (15,079 ) $ — $ (15,079 ) Net deferred costs, included in the above table 4,064 — 4,064 Overdraft deposits included in the above table 156 — 156 At December 31, 2017 (Dollars in thousands) Originated Acquired Total Commercial, financial and agricultural $ 833,100 $ 63,111 $ 896,211 Real estate-commercial 1,235,681 306,460 1,542,141 Real estate-construction 171,244 4,592 175,836 Real estate-residential secured for business purpose 250,800 91,167 341,967 Real estate-residential secured for personal purpose 260,654 60,920 321,574 Real estate-home equity secured for personal purpose 171,884 12,386 184,270 Loans to individuals 28,156 144 28,300 Lease financings 129,768 — 129,768 Total loans and leases held for investment, net of deferred income $ 3,081,287 $ 538,780 $ 3,620,067 Unearned lease income, included in the above table $ (14,243 ) $ — $ (14,243 ) Net deferred costs, included in the above table 4,669 — 4,669 Overdraft deposits included in the above table 222 — 222 |
Schedule of Impaired Loans | The following presents, by class of loans, the recorded investment and unpaid principal balance of impaired loans, the amounts of the impaired loans for which there is not a reserve for credit losses and the amounts for which there is a reserve for credit losses at September 30, 2018 and December 31, 2017 . The impaired loans exclude acquired credit impaired loans. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related Impaired loans with no related reserve recorded: Commercial, financial and agricultural $ 3,958 $ 4,535 $ 7,019 $ 8,301 Real estate—commercial real estate 7,110 7,976 15,621 16,507 Real estate—construction 106 111 365 365 Real estate—residential secured for business purpose 1,588 1,776 3,430 4,620 Real estate—residential secured for personal purpose 1,091 1,142 508 566 Real estate—home equity secured for personal purpose 1,460 1,488 511 523 Total impaired loans with no related reserve recorded $ 15,313 $ 17,028 $ 27,454 $ 30,882 Impaired loans with a reserve recorded: Commercial, financial and agricultural $ 931 $ 984 $ 211 $ 60 $ 60 $ 31 Real estate—commercial real estate 11,754 12,138 645 933 933 99 Real estate—residential secured for business purpose — — — 35 37 1 Real estate—residential secured for personal purpose 724 724 192 — — — Total impaired loans with a reserve recorded $ 13,409 $ 13,846 $ 1,048 $ 1,028 $ 1,030 $ 131 Total impaired loans: Commercial, financial and agricultural $ 4,889 $ 5,519 $ 211 $ 7,079 $ 8,361 $ 31 Real estate—commercial real estate 18,864 20,114 645 16,554 17,440 99 Real estate—construction 106 111 — 365 365 — Real estate—residential secured for business purpose 1,588 1,776 — 3,465 4,657 1 Real estate—residential secured for personal purpose 1,815 1,866 192 508 566 — Real estate—home equity secured for personal purpose 1,460 1,488 — 511 523 — Total impaired loans $ 28,722 $ 30,874 $ 1,048 $ 28,482 $ 31,912 $ 131 The outstanding principal balance and carrying amount for acquired credit impaired loans at September 30, 2018 and December 31, 2017 were as follows: (Dollars in thousands) At September 30, 2018 At December 31, 2017 Outstanding principal balance $ 1,218 $ 2,325 Carrying amount 900 1,583 Allowance for loan losses — — The following table presents the changes in accretable yield on acquired credit impaired loans: Nine Months Ended September 30, (Dollars in thousands) 2018 2017 Beginning of period $ 11 $ 50 Reclassification from nonaccretable discount 453 823 Accretable discount amortized to interest income (464 ) (850 ) Disposals — (4 ) End of period $ — $ 19 |
Schedule of Age Analysis of Past Due Loans and Leases | The following presents, by class of loans and leases, an aging of past due loans and leases, loans and leases which are current and the recorded investment in loans and leases 90 days or more past due which are accruing interest at September 30, 2018 and December 31, 2017 : (Dollars in thousands) 30-59 60-89 90 Days Total Current Acquired Credit Impaired Total Loans Recorded At September 30, 2018 Commercial, financial and agricultural $ 661 $ 9,151 $ 1,003 $ 10,815 $ 883,325 $ 182 $ 894,322 $ — Real estate—commercial real estate and construction: Commercial real estate 1,168 373 1,313 2,854 1,694,083 206 1,697,143 83 Construction — — — — 192,637 — 192,637 — Real estate—residential and home equity: Residential secured for business purpose 2,221 47 1,265 3,533 342,350 448 346,331 — Residential secured for personal purpose 2,403 981 1,419 4,803 375,642 64 380,509 — Home equity secured for personal purpose 406 189 1,329 1,924 185,057 — 186,981 128 Loans to individuals 101 32 165 298 31,940 — 32,238 165 Lease financings 897 1,639 2,390 4,926 131,082 — 136,008 848 Total $ 7,857 $ 12,412 $ 8,884 $ 29,153 $ 3,836,116 $ 900 $ 3,866,169 $ 1,224 At December 31, 2017 Commercial, financial and agricultural $ 2,182 $ 1,440 $ 1,509 $ 5,131 $ 890,658 $ 422 $ 896,211 $ — Real estate—commercial real estate and construction: Commercial real estate 733 548 1,410 2,691 1,539,094 356 1,542,141 — Construction 1,970 — 365 2,335 173,501 — 175,836 — Real estate—residential and home equity: Residential secured for business purpose 1,651 315 1,355 3,321 338,061 585 341,967 162 Residential secured for personal purpose 4,368 1,118 23 5,509 315,845 220 321,574 — Home equity secured for personal purpose 1,414 333 464 2,211 182,059 — 184,270 148 Loans to individuals 221 139 195 555 27,745 — 28,300 195 Lease financings 1,143 392 1,855 3,390 126,378 — 129,768 256 Total $ 13,682 $ 4,285 $ 7,176 $ 25,143 $ 3,593,341 $ 1,583 $ 3,620,067 $ 761 |
Schedule of Nonperforming Loans and Leases | The following presents, by class of loans and leases, nonperforming loans and leases at September 30, 2018 and December 31, 2017 . Nonperforming loans exclude acquired credit impaired loans from Fox Chase and Valley Green. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Nonaccrual Accruing Loans and Total Nonperforming Nonaccrual Accruing Loans and Total Nonperforming Commercial, financial and agricultural $ 2,795 $ 595 $ — $ 3,390 $ 4,448 $ 921 $ — $ 5,369 Real estate—commercial real estate and construction: Commercial real estate 18,425 — 83 18,508 4,285 10,266 — 14,551 Construction 106 — — 106 365 — — 365 Real estate—residential and home equity: Residential secured for business purpose 1,416 171 — 1,587 2,843 206 162 3,211 Residential secured for personal purpose 1,815 — — 1,815 466 42 — 508 Home equity secured for personal purpose 1,460 — 128 1,588 511 — 148 659 Loans to individuals — — 165 165 — — 195 195 Lease financings 1,542 — 848 2,390 1,599 — 256 1,855 Total $ 27,559 $ 766 $ 1,224 $ 29,549 $ 14,517 $ 11,435 $ 761 $ 26,713 * Includes nonaccrual troubled debt restructured loans and lease modifications of $1.3 million and $2.5 million at September 30, 2018 and December 31, 2017 , respectively. |
Summary of Credit Quality Indicators | The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at September 30, 2018 and December 31, 2017 . The Corporation employs a ten (10) grade risk rating system related to the credit quality of commercial loans and residential real estate loans secured for a business purpose of which the first six categories are pass categories (credits not adversely rated). The following is a description of the internal risk ratings and the likelihood of loss related to each risk rating. Loans with a relationship balance of less than $1 million are reviewed on a performance basis, with the primary monitored metrics being delinquency (60 days or more past due) and revolving stagnancy. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships exceeding $15 million or classified as special mention or substandard are reviewed at least quarterly, or more frequently based on management’s discretion. 1. Cash Secured—No credit risk 2. Fully Secured—Negligible credit risk 3. Strong—Minimal credit risk 4. Satisfactory—Nominal credit risk 5. Acceptable—Moderate credit risk 6. Pre-Watch—Marginal, but stable credit risk 7. Special Mention—Potential weakness 8. Substandard—Well-defined weakness 9. Doubtful—Collection in-full improbable 10. Loss—Considered uncollectible Commercial Credit Exposure Credit Risk by Internally Assigned Grades The following table presents classifications for originated loans: (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Total At September 30, 2018 Grade: 1. Cash secured/ 2. Fully secured $ 2,789 $ — $ 23,290 $ — $ 26,079 3. Strong 14,369 699 — — 15,068 4. Satisfactory 18,511 24,325 — 265 43,101 5. Acceptable 575,671 1,072,909 77,773 236,261 1,962,614 6. Pre-watch 222,325 287,933 86,326 38,090 634,674 7. Special Mention 26,323 35,402 1,400 2,203 65,328 8. Substandard 7,648 21,413 106 2,981 32,148 9. Doubtful — — — — — 10.Loss — — — — — Total $ 867,636 $ 1,442,681 $ 188,895 $ 279,800 $ 2,779,012 At December 31, 2017 Grade: 1. Cash secured/ 2. Fully secured $ 2,521 $ — $ 20,420 $ — $ 22,941 3. Strong 9,206 1,821 — — 11,027 4. Satisfactory 30,283 26,950 — 274 57,507 5. Acceptable 593,205 960,258 76,899 215,750 1,846,112 6. Pre-watch 179,990 209,844 72,168 29,738 491,740 7. Special Mention 4,027 12,974 1,392 296 18,689 8. Substandard 13,868 23,834 365 4,742 42,809 9. Doubtful — — — — — 10.Loss — — — — — Total $ 833,100 $ 1,235,681 $ 171,244 $ 250,800 $ 2,490,825 The following table presents classifications for acquired loans: (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Total At September 30, 2018 Grade: 1. Cash secured/ 2. Fully secured $ — $ — $ — $ — $ — 3. Strong — — — — — 4. Satisfactory — — — — — 5. Acceptable 23,085 155,221 — 56,107 234,413 6. Pre-watch 2,475 81,048 3,742 9,115 96,380 7. Special Mention 838 4,421 — — 5,259 8. Substandard 288 13,772 — 1,309 15,369 9. Doubtful — — — — — 10.Loss — — — — — Total $ 26,686 $ 254,462 $ 3,742 $ 66,531 $ 351,421 December 31, 2017 Grade: 1. Cash secured/ 2. Fully secured $ 1,120 $ — $ — $ — $ 1,120 3. Strong — — — — — 4. Satisfactory 125 482 — — 607 5. Acceptable 49,949 183,490 — 73,402 306,841 6. Pre-watch 6,183 98,977 4,592 15,861 125,613 7. Special Mention 1,007 17,028 — — 18,035 8. Substandard 4,727 6,483 — 1,904 13,114 9. Doubtful — — — — — 10.Loss — — — — — Total $ 63,111 $ 306,460 $ 4,592 $ 91,167 $ 465,330 The following table presents classifications for originated loans: (Dollars in thousands) Real Estate— Real Estate— Loans to Lease Total At September 30, 2018 Performing $ 327,138 $ 177,115 $ 31,931 $ 133,618 $ 669,802 Nonperforming 695 517 165 2,390 3,767 Total $ 327,833 $ 177,632 $ 32,096 $ 136,008 $ 673,569 At December 31, 2017 Performing $ 260,589 $ 171,527 $ 27,961 $ 127,913 $ 587,990 Nonperforming 65 357 195 1,855 2,472 Total $ 260,654 $ 171,884 $ 28,156 $ 129,768 $ 590,462 The following table presents classifications for acquired loans: (Dollars in thousands) Real Estate— Real Estate— Loans to Lease Total At September 30, 2018 Performing $ 51,556 $ 8,278 $ 142 $ — $ 59,976 Nonperforming 1,120 1,071 — — 2,191 Total $ 52,676 $ 9,349 $ 142 $ — $ 62,167 At December 31, 2017 Performing $ 60,477 $ 12,084 $ 144 $ — $ 72,705 Nonperforming 443 302 — — 745 Total $ 60,920 $ 12,386 $ 144 $ — $ 73,450 |
Summary of Activity in the Reserve for Loan and Lease Losses | eserve for Loan and Lease Losses and Recorded Investment in Loans and Leases The following presents, by portfolio segment, a summary of the activity in the reserve for loan and lease losses for the three and nine months ended September 30, 2018 and 2017 : (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Loans to Lease Unallocated Total Three Months Ended September 30, 2018 Reserve for loan and lease losses: Beginning balance $ 7,258 $ 12,327 $ 2,004 $ 2,494 $ 447 $ 1,071 $ 51 $ 25,652 Charge-offs (904 ) — (30 ) — (82 ) (123 ) N/A (1,139 ) Recoveries 22 1 8 6 25 51 N/A 113 Provision 813 906 72 527 82 138 206 2,744 Provision for acquired credit impaired loans — — — 1 — — — 1 Ending balance $ 7,189 $ 13,234 $ 2,054 $ 3,028 $ 472 $ 1,137 $ 257 $ 27,371 Three Months Ended September 30, 2017 Reserve for loan and lease losses: Beginning balance $ 8,313 $ 8,468 $ 1,129 $ 974 $ 329 $ 1,660 $ 37 $ 20,910 Charge-offs (290 ) — (56 ) (83 ) (61 ) (3,097 ) N/A (3,587 ) Recoveries 325 1 29 68 35 73 N/A 531 (Recovery of provision) provision (1,732 ) 787 204 756 51 2,654 (30 ) 2,690 Recovery of provision for acquired credit impaired loans — — (1 ) — — — — (1 ) Ending balance $ 6,616 $ 9,256 $ 1,305 $ 1,715 $ 354 $ 1,290 $ 7 $ 20,543 Nine Months Ended September 30, 2018 Reserve for loan and lease losses: Beginning balance $ 6,742 $ 9,839 $ 1,661 $ 1,754 $ 373 $ 1,132 $ 54 $ 21,555 Charge-offs (14,553 ) (40 ) (30 ) — (253 ) (428 ) N/A (15,304 ) Recoveries 271 74 266 71 71 160 N/A 913 Provision 14,729 3,361 157 1,201 281 273 203 20,205 Provision for acquired credit impaired loans — — — 2 — — — 2 Ending balance $ 7,189 $ 13,234 $ 2,054 $ 3,028 $ 472 $ 1,137 $ 257 $ 27,371 Nine Months Ended September 30, 2017 Reserve for loan and lease losses: Beginning balance $ 7,037 $ 7,505 $ 774 $ 993 $ 364 $ 788 $ 38 $ 17,499 Charge-offs (576 ) (30 ) (1,237 ) (177 ) (301 ) (3,681 ) N/A (6,002 ) Recoveries 722 4 47 89 116 168 N/A 1,146 (Recovery of provision) provision (567 ) 1,777 1,722 808 175 4,015 (31 ) 7,899 (Recovery of provision) provision for acquired credit impaired loans — — (1 ) 2 — — — 1 Ending balance $ 6,616 $ 9,256 $ 1,305 $ 1,715 $ 354 $ 1,290 $ 7 $ 20,543 N/A – Not applicable |
Summary of Average Recorded Investment in Impaired Loans and Leases and Analysis of Interest on Impaired Loans | The following presents by class of loans, the average recorded investment in impaired loans and an analysis of interest on impaired loans. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Therefore, interest income on accruing impaired loans is recognized using the accrual method. Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (Dollars in thousands) Average Interest Additional Average Interest Additional Commercial, financial and agricultural $ 5,671 $ 31 $ 58 $ 10,211 $ 52 $ 92 Real estate—commercial real estate 19,878 22 261 18,583 201 69 Real estate—construction 108 — 2 365 — 5 Real estate—residential secured for business purpose 1,844 4 32 3,579 16 34 Real estate—residential secured for personal purpose 1,850 — 26 635 1 8 Real estate—home equity secured for personal purpose 1,507 — 21 288 — 5 Total $ 30,858 $ 57 $ 400 $ 33,661 $ 270 $ 213 * Includes interest income recognized on a cash basis for nonaccrual loans of $5 thousand and $0 thousand for the three months ended September 30, 2018 and 2017 , respectively, and interest income recognized on the accrual method for accruing impaired loans of $52 thousand and $270 thousand for the three months ended September 30, 2018 and 2017 , respectively. Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in thousands) Average Interest Additional Average Interest Additional Commercial, financial and agricultural $ 6,589 $ 103 $ 269 $ 11,030 $ 162 $ 263 Real estate—commercial real estate 19,935 212 813 21,120 618 223 Real estate—construction 128 — 7 219 — 15 Real estate—residential secured for business purpose 2,018 14 79 4,053 53 139 Real estate—residential secured for personal purpose 1,064 3 70 629 2 31 Real estate—home equity secured for personal purpose 1,026 — 60 391 — 15 Total $ 30,760 $ 332 $ 1,298 $ 37,442 $ 835 $ 686 |
Schedule of Troubled Debt Restructured Loans | Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 (Dollars in thousands) Number Pre- Post- Related Number Pre- Post- Related Accruing Troubled Debt Restructured Loans: Total — $ — $ — $ — — $ — $ — $ — Nonaccrual Troubled Debt Restructured Loans: Total — $ — $ — $ — — $ — $ — $ — Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in thousands) Number Pre- Post- Related Number Pre- Post- Related Accruing Troubled Debt Restructured Loans: Real estate—commercial real estate — $ — $ — $ — 3 $ 9,206 $ 9,206 $ — Total — $ — $ — $ — 3 $ 9,206 $ 9,206 $ — Nonaccrual Troubled Debt Restructured Loans: Real estate—commercial real estate — $ — $ — $ — 1 $ 328 $ 328 $ — Real estate—residential secured for personal purpose 1 66 66 — — — — — Total 1 $ 66 $ 66 $ — 1 $ 328 $ 328 $ — The following presents, by class of loans, information regarding consumer mortgages collateralized by residential real estate property that are in the process of foreclosure at September 30, 2018 and December 31, 2017 : (Dollars in thousands) At September 30, 2018 At December 31, 2017 Real estate-residential secured for personal purpose $ — $ 31 Real estate-home equity secured for personal purpose 812 — Total $ 812 $ 31 The following presents foreclosed residential real estate property included in other real estate owned at September 30, 2018 and December 31, 2017 . (Dollars in thousands) At September 30, 2018 At December 31, 2017 Foreclosed residential real estate $ 57 $ 80 |
Schedule of Accruing and Nonaccruing Troubled Debt Restructured Loans | The following presents, by class of loans, information regarding accruing and nonaccrual troubled debt restructured loans, for which there were payment defaults within twelve months of the restructuring date: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Number Recorded Number Recorded Number Recorded Number Recorded Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural — $ — — $ — 1 $ 953 — $ — Total — $ — — $ — 1 $ 953 — $ — |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Carrying Amount of Goodwill | Changes in the carrying amount of the Corporation's goodwill by business segment for the nine months ended September 30, 2018 were as follows: (Dollars in thousands) Banking Wealth Management Insurance Consolidated Balance at December 31, 2017 $ 138,476 $ 15,434 $ 18,649 $ 172,559 Addition to goodwill from acquisitions — — — — Balance at September 30, 2018 $ 138,476 $ 15,434 $ 18,649 $ 172,559 |
Components of Intangible Assets | The following table reflects the components of intangible assets at the dates indicated: At September 30, 2018 At December 31, 2017 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization and Fair Value Adjustments Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Fair Value Adjustments Net Carrying Amount Amortized intangible assets: Covenants not to compete $ 710 $ 710 $ — $ 710 $ 580 $ 130 Core deposit intangibles 6,788 2,903 3,885 6,788 2,135 4,653 Customer related intangibles 12,381 10,576 1,805 12,381 9,828 2,553 Servicing rights 16,949 10,234 6,715 15,855 9,282 6,573 Total amortized intangible assets $ 36,828 $ 24,423 $ 12,405 $ 35,734 $ 21,825 $ 13,909 |
Estimated Aggregate Amortization Expense | The estimated aggregate amortization expense for core deposit and customer related intangibles for the remainder of 2018 and the succeeding fiscal years is as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 468 2019 1,565 2020 1,200 2021 923 2022 666 Thereafter 868 The estimated amortization expense of servicing rights for the remainder of 2018 and the succeeding fiscal years is as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 858 2019 770 2020 682 2021 603 2022 533 Thereafter 3,269 |
Changes in Mortgage Servicing Rights | Changes in the servicing rights balance are summarized as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2018 2017 2018 2017 Beginning of period $ 6,650 $ 6,548 $ 6,573 $ 6,485 Servicing rights capitalized 406 376 1,093 1,106 Amortization of servicing rights (341 ) (368 ) (951 ) (1,035 ) End of period $ 6,715 $ 6,556 $ 6,715 $ 6,556 Residential mortgage and SBA loans serviced for others $ 1,024,229 $ 997,169 $ 1,024,229 $ 997,169 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Schedule Of Maturities Of Time Deposits [Table Text Block] | Deposits and their respective weighted average interest rate at September 30, 2018 and December 31, 2017 consist of the following: At September 30, 2018 At December 31, 2017 Weighted Average Interest Rate Amount Weighted Average Interest Rate Amount (Dollars in thousands) Noninterest-bearing deposits — % $ 1,047,081 — % $ 1,040,026 Demand deposits 0.93 1,350,720 0.43 1,109,438 Savings deposits 0.28 750,764 0.26 830,706 Time deposits 1.66 671,483 1.12 574,749 Total 0.67 % $ 3,820,048 0.38 % $ 3,554,919 |
Schedule of Components of Weighted Average Interest Rate and Balance of Deposits [Table Text Block] | At September 30, 2018 , the scheduled maturities of time deposits are as follows: Year (Dollars in thousands) Amount Remainder of 2018 $ 92,465 2019 335,088 2020 114,034 2021 32,865 2022 33,222 Thereafter 63,809 Total $ 671,483 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Borrowings by Type | The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less. The long-term debt balances and weighted average interest rates include purchase accounting fair value adjustments, net of related amortization, from the Fox Chase acquisition. At September 30, 2018 At December 31, 2017 (Dollars in thousands) Balance at End of Period Weighted Average Interest Rate at End of Period Balance at End of Period Weighted Average Interest Rate at End of Period Short-term borrowings: FHLB borrowings $ 16,980 2.38 % $ 30,225 1.54 % Federal funds purchased 50,000 2.33 55,000 1.56 Customer repurchase agreements 19,785 0.05 20,206 0.05 Long-term debt: FHLB advances $ 115,000 1.82 % $ 125,036 1.73 % Security repurchase agreements 30,430 2.14 30,792 1.52 Subordinated notes $ 94,514 5.34 % $ 94,331 5.35 % |
Schedule of Maturities of Long-term FHLB Advances | Long-term advances with the FHLB of Pittsburgh mature as follows: (Dollars in thousands) As of September 30, 2018 Weighted Average Rate Remainder of 2018 $ — — % 2019 10,000 1.35 2020 40,000 1.70 2021 55,000 1.94 2022 10,000 2.09 Thereafter — — Total $ 115,000 1.82 % |
Schedule of Maturities of Other Long-term Borrowings | Long-term debt under security repurchase agreements with large commercial banks mature as follows: (Dollars in thousands) As of September 30, 2018 Weighted Average Rate Remainder of 2018 $ 10,032 1.52 % 2019 10,152 2.45 2020 10,246 2.44 2021 — — 2022 — — Thereafter — — Total $ 30,430 2.14 % |
Retirement Plans and Other Po_2
Retirement Plans and Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Cost (Income) | Components of net periodic benefit cost (income) were as follows: Three Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Retirement Plans Other Post Retirement Service cost $ 140 $ 124 $ 22 $ 12 Interest cost 440 487 23 29 Expected return on plan assets (849 ) (797 ) — — Amortization of net actuarial loss 280 309 1 11 Accretion of prior service cost (70 ) (71 ) — — Net periodic benefit (income) cost $ (59 ) $ 52 $ 46 $ 52 Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Retirement Plans Other Post Retirement Service cost $ 420 $ 399 $ 66 $ 36 Interest cost 1,320 1,439 69 88 Expected return on plan assets (2,440 ) (2,298 ) — — Amortization of net actuarial loss 841 886 3 32 Accretion of prior service cost (212 ) (212 ) — — Net periodic benefit (income) cost $ (71 ) $ 214 $ 138 $ 156 |
Stock-Based Incentive Plan (Tab
Stock-Based Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Status of Options Granted Under Long-Term Incentive Plan | The following is a summary of the Corporation's stock option activity and related information for the nine months ended September 30, 2018 : (Dollars in thousands, except per share data) Shares Under Option Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value at September 30, 2018 Outstanding at December 31, 2017 512,735 $ 21.90 Granted 192,278 28.50 Expired (500 ) 28.15 Forfeited (20,418 ) 26.14 Exercised (59,750 ) 18.92 Outstanding at September 30, 2018 624,345 24.08 7.5 $ 2,150 Exercisable at September 30, 2018 259,031 20.41 5.9 1,662 |
Summary of Nonvested Stock Options | The following is a summary of nonvested stock options at September 30, 2018 including changes during the nine months then ended: (Dollars in thousands, except per share data) Nonvested Stock Options Weighted Average Grant Date Fair Value Nonvested stock options at December 31, 2017 352,142 $ 6.47 Granted 192,278 6.46 Vested (158,688 ) 6.43 Forfeited (20,418 ) 6.49 Nonvested stock options at September 30, 2018 365,314 6.48 |
Aggregated Assumptions Used to Estimate Fair Value of Options Granted | The following aggregated assumptions were used to estimate the fair value of options granted during the nine months ended September 30, 2018 and 2017 : Nine months ended September 30, 2018 2017 Actual Expected option life in years 6.6 6.9 Risk free interest rate 2.80 % 2.30 % Expected dividend yield 2.81 % 2.84 % Expected volatility 27.15 % 29.75 % Fair value of options $6.46 $6.72 |
Summary of Nonvested Restricted Stock Awards | The following is a summary of nonvested restricted stock awards at September 30, 2018 including changes during the nine months then ended: (Dollars in thousands, except per share data) Nonvested Share Awards Weighted Average Grant Date Fair Value Nonvested share awards at December 31, 2017 229,026 $ 21.93 Granted 59,953 28.39 Vested (94,867 ) 19.94 Forfeited (25,780 ) 21.63 Nonvested share awards at September 30, 2018 168,332 25.41 |
Certain Information Regarding Restricted Stock | The fair value of restricted stock is equivalent to the fair value on the date of grant and is amortized over the vesting period. Certain information regarding restricted stock is summarized below for the periods indicated: Nine months ended September 30, (Dollars in thousands, except per share data) 2018 2017 Shares granted 59,953 61,823 Weighted average grant date fair value $ 28.39 $ 28.08 Intrinsic value of awards vested $ 2,648 $ 2,914 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested stock options and nonvested restricted stock awards at September 30, 2018 is presented below: (Dollars in thousands) Unrecognized Compensation Cost Weighted-Average Period Remaining (Years) Stock options $ 1,592 1.9 Restricted stock awards 2,107 1.8 $ 3,699 1.9 |
Compensation Expense Related to Stock Incentive Plans Recognized | The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated: Nine months ended September 30, (Dollars in thousands) 2018 2017 Stock-based compensation expense: Stock options $ 797 $ 678 Restricted stock awards 1,582 1,872 Employee stock purchase plan 51 47 Total $ 2,430 $ 2,597 Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options $ 624 $ 1,263 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive (Loss) Income (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive (Loss) Income, Net of Taxes | The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented: (Dollars in thousands) Net Unrealized Net Change Net Change Accumulated Balance, December 31, 2017 $ (4,061 ) $ 9 $ (13,719 ) $ (17,771 ) Adjustment to initially apply ASU No. 2016-01 for equity securities measured at fair value (1) (433 ) — — (433 ) Adjustment to initially apply ASU No. 2018-02 for reclassification of stranded net tax charges (1) (968 ) 2 (2,955 ) (3,921 ) Other comprehensive (loss) income (7,411 ) 373 499 (6,539 ) Balance, September 30, 2018 $ (12,873 ) $ 384 $ (16,175 ) $ (28,664 ) Balance, December 31, 2016 $ (4,988 ) $ (141 ) $ (14,325 ) $ (19,454 ) Net Change 2,624 28 459 3,111 Balance, September 30, 2017 $ (2,364 ) $ (113 ) $ (13,866 ) $ (16,343 ) |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts and Fair Value of Derivatives Designated as Hedging Instruments | The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the consolidated balance sheets at September 30, 2018 and December 31, 2017 . The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts. Derivative Assets Derivative Liabilities (Dollars in thousands) Notional Balance Sheet Fair Balance Sheet Fair At September 30, 2018 Interest rate swap - cash flow hedge $ 17,269 Other assets $ 485 $ — Interest rate swap - fair value hedge 1,357 Other assets 20 — Total $ 18,626 $ 505 $ — At December 31, 2017 Interest rate swap - cash flow hedge $ 17,836 Other assets $ 13 $ — Interest rate swap - fair value hedge 1,388 — Other liabilities 12 Total $ 19,224 $ 13 $ 12 |
Notional Amounts and Fair Values of Derivatives Not Designated as Hedging Instruments | The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the consolidated balance sheets at September 30, 2018 and December 31, 2017 : Derivative Assets Derivative Liabilities (Dollars in thousands) Notional Balance Sheet Fair Balance Sheet Fair At September 30, 2018 Interest rate swap $ 445 $ — Other liabilities $ 20 Credit derivatives 84,709 — Other liabilities 24 Interest rate locks with customers 23,529 Other assets 305 — Forward loan sale commitments 23,884 Other assets 53 — Total $ 132,567 $ 358 $ 44 At December 31, 2017 Interest rate swap $ 523 $ — Other liabilities $ 38 Credit derivatives 75,622 — Other liabilities 36 Interest rate locks with customers 27,411 Other assets 527 — Forward loan sale commitments 29,037 Other assets 61 — Total $ 132,593 $ 588 $ 74 |
Income for Derivatives Designated as Hedging Instruments | The following table presents amounts included in the consolidated statements of income for derivatives designated as hedging instruments for the periods indicated: Statement of Income Three Months Ended Nine Months Ended (Dollars in thousands) 2018 2017 2018 2017 Interest rate swap—cash flow hedge—net interest payments Interest expense $ 1 $ 41 $ 27 $ 148 Interest rate swap—fair value hedge—ineffectiveness Other noninterest income 1 — 3 5 Net loss $ — $ (41 ) $ (24 ) $ (143 ) |
Income for Derivatives Not Designated as Hedging Instruments | Statement of Income Classification Three Months Ended Nine Months Ended (Dollars in thousands) 2018 2017 2018 2017 Credit derivatives Other noninterest income $ 48 $ 25 $ 87 $ 149 Interest rate locks with customers Net (loss) gain on mortgage banking activities (328 ) (129 ) (223 ) 433 Forward loan sale commitments Net gain (loss) on mortgage banking activities 144 (166 ) (8 ) (258 ) Total $ (136 ) $ (270 ) $ (144 ) $ 324 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at September 30, 2018 and December 31, 2017 : (Dollars in thousands) Accumulated Other At September 30, 2018 At December 31, 2017 Interest rate swap—cash flow hedge Fair value, net of taxes $ 383 $ 9 Total $ 383 $ 9 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the assets and liabilities measured at fair value on a recurring basis at September 30, 2018 and December 31, 2017 , classified using the fair value hierarchy: At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Assets/ Assets: Available-for-sale securities: U.S. government corporations and agencies $ — $ 15,316 $ — $ 15,316 State and political subdivisions — 67,892 — 67,892 Residential mortgage-backed securities — 156,414 — 156,414 Collateralized mortgage obligations — 2,981 — 2,981 Corporate bonds — 67,923 26,407 94,330 Total available-for-sale securities — 310,526 26,407 336,933 Equity securities: Equity securities - financial services industry 1,103 — — 1,103 Money market mutual funds 1,161 — — 1,161 Total equity securities 2,264 — — 2,264 Loans* — — 1,801 1,801 Interest rate swaps* — 505 — 505 Interest rate locks with customers* — 305 — 305 Forward loan sale commitments* — 53 — 53 Total assets $ 2,264 $ 311,389 $ 28,208 $ 341,861 Liabilities: Contingent consideration liability $ — $ — $ 310 $ 310 Interest rate swaps* — 20 — 20 Credit derivatives* — — 24 24 Total liabilities $ — $ 20 $ 334 $ 354 At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Assets/ Assets: Available-for-sale securities: U.S. government corporations and agencies $ — $ 16,961 $ — $ 16,961 State and political subdivisions — 78,297 — 78,297 Residential mortgage-backed securities — 185,421 — 185,421 Collateralized mortgage obligations — 3,602 — 3,602 Corporate bonds — 79,190 27,986 107,176 Total available-for-sale securities — 363,471 27,986 391,457 Equity securities: Equity securities - financial services industry 1,076 — — 1,076 Money market mutual funds 5,985 — — 5,985 Total equity securities 7,061 — — 7,061 Loans* — — 1,958 1,958 Interest rate swap* — 13 — 13 Interest rate locks with customers* — 527 — 527 Forward loan sale commitments* — 61 — 61 Total assets $ 7,061 $ 364,072 $ 29,944 $ 401,077 Liabilities: Contingent consideration liability $ — $ — $ 339 $ 339 Interest rate swaps* — 50 — 50 Credit derivatives* — — 36 36 Total liabilities $ — $ 50 $ 375 $ 425 * Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities. |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table includes a rollforward of corporate bonds, loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 (Dollars in thousands) Balance at Purchases/additions Sales Payments received Premium amortization, net (Decrease) increase in value Balance at September 30, 2018 Corporate bonds $ 27,986 $ — $ — $ — $ — $ (1,579 ) $ 26,407 Loans 1,958 — — (110 ) — (47 ) 1,801 Credit derivatives (36 ) (75 ) — — — 87 (24 ) Net total $ 29,908 $ (75 ) $ — $ (110 ) $ — $ (1,539 ) $ 28,184 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table includes a rollforward of corporate bonds, loans and credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 (Dollars in thousands) Balance at Purchases/additions Sales Payments received Premium amortization, net (Decrease) increase in value Balance at September 30, 2018 Corporate bonds $ 27,986 $ — $ — $ — $ — $ (1,579 ) $ 26,407 Loans 1,958 — — (110 ) — (47 ) 1,801 Credit derivatives (36 ) (75 ) — — — 87 (24 ) Net total $ 29,908 $ (75 ) $ — $ (110 ) $ — $ (1,539 ) $ 28,184 |
Contingent Consideration Liability Change in Amount | he following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the nine months ended September 30, 2018 and 2017 : Nine Months Ended September 30, 2018 (Dollars in thousands) Balance at Contingent Payment of Adjustment Balance at September 30, 2018 Girard Partners 339 — 67 38 310 Total contingent consideration liability $ 339 $ — $ 67 $ 38 $ 310 Nine Months Ended September 30, 2017 (Dollars in thousands) Balance at Contingent Payment of Adjustment Balance at September 30, 2017 Sterner Insurance Associates $ 331 $ — $ 30 $ (301 ) $ — Girard Partners 5,668 — 5,350 41 359 Total contingent consideration liability $ 5,999 $ — $ 5,380 $ (260 ) $ 359 |
Assets Measured at Fair Value on Non-Recurring Basis | The following table represents assets measured at fair value on a non-recurring basis at September 30, 2018 and December 31, 2017 : At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Assets at Impaired loans held for investment $ — $ — $ 27,674 $ 27,674 Impaired leases held for investment — — 1,250 1,250 Other real estate owned — — 1,433 1,433 Total $ — $ — $ 30,357 $ 30,357 At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Assets at Impaired loans held for investment $ — $ — $ 28,351 $ 28,351 Impaired leases held for investment — — 1,250 1,250 Other real estate owned — — 1,843 1,843 Total $ — $ — $ 31,444 $ 31,444 |
Assets, Liabilities and Off-Balance Sheet Items Not Measured at Fair Value | The following table presents assets and liabilities and off-balance sheet items not measured at fair value on a recurring or non-recurring basis in the Corporation’s consolidated balance sheets but for which the fair value is required to be disclosed at September 30, 2018 and December 31, 2017 . The disclosed fair values are classified using the fair value hierarchy. At September 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Fair Carrying Assets: Cash and short-term interest-earning assets $ 84,110 $ — $ — $ 84,110 $ 84,110 Held-to-maturity securities — 105,642 — 105,642 108,142 Federal Home Loan Bank, Federal Reserve Bank and other stock NA NA NA NA 33,071 Loans held for sale — 114 — 114 106 Net loans and leases held for investment — — 3,794,987 3,794,987 3,808,073 Servicing rights — — 11,935 11,935 6,715 Total assets $ 84,110 $ 105,756 $ 3,806,922 $ 3,996,788 $ 4,040,217 Liabilities: Deposits: Demand and savings deposits, non-maturity $ 3,148,565 $ — $ — $ 3,148,565 $ 3,148,565 Time deposits — 661,806 — 661,806 671,483 Total deposits 3,148,565 661,806 — 3,810,371 3,820,048 Short-term borrowings — 86,765 — 86,765 86,765 Long-term debt — 142,862 — 142,862 145,430 Subordinated notes — 96,063 — 96,063 94,514 Total liabilities $ 3,148,565 $ 987,496 $ — $ 4,136,061 $ 4,146,757 Off-Balance-Sheet: Commitments to extend credit $ — $ (2,508 ) $ — $ (2,508 ) $ — At December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Fair Carrying Assets: Cash and short-term interest-earning assets $ 75,409 $ — $ — $ 75,409 $ 75,409 Held-to-maturity securities — 55,320 — 55,320 55,564 Federal Home Loan Bank, Federal Reserve Bank and other stock NA NA NA NA 27,204 Loans held for sale — 1,676 — 1,676 1,642 Net loans and leases held for investment — — 3,547,451 3,547,451 3,566,953 Servicing rights — — 10,046 10,046 6,573 Total assets $ 75,409 $ 56,996 $ 3,557,497 $ 3,689,902 $ 3,733,345 Liabilities: Deposits: Demand and savings deposits, non-maturity $ 2,980,170 $ — $ — $ 2,980,170 $ 2,980,170 Time deposits — 574,737 — 574,737 574,749 Total deposits 2,980,170 574,737 — 3,554,907 3,554,919 Short-term borrowings — 105,431 — 105,431 105,431 Long-term debt — 156,834 — 156,834 155,828 Subordinated notes — 98,075 — 98,075 94,331 Total liabilities $ 2,980,170 $ 935,077 $ — $ 3,915,247 $ 3,910,509 Off-Balance-Sheet: Commitments to extend credit $ — $ (2,414 ) $ — $ (2,414 ) $ — |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting | The following table provides total assets by reportable business segment as of the dates indicated. (Dollars in thousands) At September 30, 2018 At December 31, 2017 At September 30, 2017 Banking $ 4,711,093 $ 4,466,301 $ 4,327,920 Wealth Management 38,042 34,600 34,903 Insurance 29,299 27,846 25,139 Other 23,564 26,115 29,401 Consolidated assets $ 4,801,998 $ 4,554,862 $ 4,417,363 The following tables provide reportable segment-specific information and reconciliations to consolidated financial information for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 49,238 $ 9 $ — $ 8 $ 49,255 Interest expense 7,571 — — 1,261 8,832 Net interest income 41,667 9 — (1,253 ) 40,423 Provision for loan and lease losses 2,745 — — — 2,745 Noninterest income 5,070 5,795 3,845 151 14,861 Intangible expenses 240 136 103 — 479 Other noninterest expense 26,542 3,547 3,087 716 33,892 Intersegment (revenue) expense* (512 ) 377 135 — — Income (expense) before income taxes 17,722 1,744 520 (1,818 ) 18,168 Income tax (benefit) expense 3,171 493 156 (616 ) 3,204 Net income (loss) $ 14,551 $ 1,251 $ 364 $ (1,202 ) $ 14,964 Capital expenditures $ 570 $ 73 $ 16 $ 86 $ 745 Three Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 42,161 $ 4 $ — $ 7 $ 42,172 Interest expense 4,031 — — 1,254 5,285 Net interest income 38,130 4 — (1,247 ) 36,887 Provision for loan and lease losses 2,689 — — — 2,689 Noninterest income 4,993 5,428 3,620 68 14,109 Intangible expenses 357 168 165 — 690 Other noninterest expense 25,733 3,472 2,803 (3 ) 32,005 Intersegment (revenue) expense* (264 ) 146 118 — — Income (expense) before income taxes 14,608 1,646 534 (1,176 ) 15,612 Income tax expense (benefit) 4,033 648 224 (489 ) 4,416 Net income (loss) $ 10,575 $ 998 $ 310 $ (687 ) $ 11,196 Capital expenditures $ 582 $ 5 $ 3 $ 178 $ 768 Nine Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 139,204 $ 22 $ — $ 23 $ 139,249 Interest expense 18,781 — — 3,783 22,564 Net interest income 120,423 22 — (3,760 ) 116,685 Provision for loan and lease losses 20,207 — — — 20,207 Noninterest income 15,320 17,397 12,835 205 45,757 Intangible expenses 898 415 372 — 1,685 Restructuring charges 571 — — — 571 Other noninterest expense 80,790 10,969 9,425 403 101,587 Intersegment (revenue) expense* (1,098 ) 686 412 — — Income (expense) before income taxes 34,375 5,349 2,626 (3,958 ) 38,392 Income tax expense (benefit) 5,006 1,636 775 (1,196 ) 6,221 Net income (loss) $ 29,369 $ 3,713 $ 1,851 $ (2,762 ) $ 32,171 Capital expenditures $ 2,360 $ 162 $ 25 $ 151 $ 2,698 Nine Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Interest income $ 120,575 $ 6 $ — $ 17 $ 120,598 Interest expense 10,352 — — 3,776 14,128 Net interest income 110,223 6 — (3,759 ) 106,470 Provision for loan and lease losses 7,900 — — — 7,900 Noninterest income 16,945 15,965 11,913 265 45,088 Intangible expenses 1,151 506 238 — 1,895 Other noninterest expense 74,949 10,404 8,718 1,307 95,378 Intersegment (revenue) expense* (792 ) 438 354 — — Income (expense) before income taxes 43,960 4,623 2,603 (4,801 ) 46,385 Income tax expense (benefit) 11,754 1,812 1,095 (2,106 ) 12,555 Net income (loss) $ 32,206 $ 2,811 $ 1,508 $ (2,695 ) $ 33,830 Capital expenditures $ 6,921 $ 27 $ 202 $ 262 $ 7,412 * Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. These expenses are generally allocated based upon number of employees and square footage utilized. |
Revenue From Contracts with C_2
Revenue From Contracts with Customers Revenue From Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Reconciliation of Revenue from Segments to Consolidated | The following tables disaggregate the Corporation's revenue by major source for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 41,667 $ 9 $ — $ (1,253 ) $ 40,423 Noninterest income: Trust fee income — 1,960 — — 1,960 Service charges on deposit accounts 1,454 — — — 1,454 Investment advisory commission and fee income — 3,785 — — 3,785 Insurance commission and fee income — — 3,643 — 3,643 Other service fee income (2) 2,032 50 202 — 2,284 Bank owned life insurance income (1) 708 — — 157 865 Net gain on mortgage banking activities (1) 754 — — — 754 Other (loss) income (2) 122 — — (6 ) 116 Total noninterest income $ 5,070 $ 5,795 $ 3,845 $ 151 $ 14,861 Three Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 38,130 $ 4 $ — $ (1,247 ) $ 36,887 Noninterest income: Trust fee income — 1,924 — — 1,924 Service charges on deposit accounts 1,371 — — — 1,371 Investment advisory commission and fee income — 3,455 — — 3,455 Insurance commission and fee income — — 3,492 — 3,492 Other service fee income (2) 1,947 49 127 — 2,123 Bank owned life insurance income (1) 675 — — 67 742 Net gain on sales of investment securities (1) 6 — — 1 7 Net gain on mortgage banking activities (1) 908 — — — 908 Other income (2) 86 — 1 — 87 Total noninterest income $ 4,993 $ 5,428 $ 3,620 $ 68 $ 14,109 Nine Months Ended September 30, 2018 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 120,423 $ 22 $ — $ (3,760 ) $ 116,685 Noninterest income: Trust fee income — 6,000 — — 6,000 Service charges on deposit accounts 4,116 — — — 4,116 Investment advisory commission and fee income — 11,246 — — 11,246 Insurance commission and fee income — — 12,243 — 12,243 Other service fee income (2) 6,139 151 594 — 6,884 Bank owned life insurance income (1) 2,567 — — 177 2,744 Net gain on sales of investment securities (1) 10 — — — 10 Net gain on mortgage banking activities (1) 2,412 — — — 2,412 Other (loss) income (2) 76 — (2 ) 28 102 Total noninterest income $ 15,320 $ 17,397 $ 12,835 $ 205 $ 45,757 Nine Months Ended September 30, 2017 (Dollars in thousands) Banking Wealth Management Insurance Other Consolidated Net interest income (1) $ 110,223 $ 6 $ — $ (3,759 ) $ 106,470 Noninterest income: Trust fee income — 5,847 — — 5,847 Service charges on deposit accounts 3,927 — — — 3,927 Investment advisory commission and fee income — 9,969 — — 9,969 Insurance commission and fee income — — 11,530 — 11,530 Other service fee income (2) 5,825 149 381 — 6,355 Bank owned life insurance income (1) 2,886 — — 261 3,147 Net gain on sales of investment securities (1) 39 — — 4 43 Net gain on mortgage banking activities (1) 3,558 — — — 3,558 Other income (2) 710 — 2 — 712 Total noninterest income $ 16,945 $ 15,965 $ 11,913 $ 265 $ 45,088 (1) Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. (2) Other service fee income and other income include certain items that are in scope and certain items that are out of scope of the standard and are described further in the following paragraphs. |
Restructuring Charges Restructu
Restructuring Charges Restructuring Charges (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Roll-Forward of Accrued Restructuring Expense | A roll-forward of the remaining accrued restructuring expense for the nine months ended September 30, 2018 is as follows: (Dollars in thousands) Severance expenses Write-downs and retirements of fixed assets Lease cancellations Total Accrued at January 1, 2018 $ — $ — $ 23 $ 23 Restructuring charges 366 48 157 571 Payments (284 ) — (30 ) (314 ) Non-cash settlement — (48 ) — (48 ) Accrued at September 30, 2018 $ 82 $ — $ 150 $ 232 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Sep. 30, 2018 | Dec. 31, 2017 |
Summary Of Significant Accounting Policies [Line Items] | |||
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 3,900 | ||
Investments in equity securities | $ 7,061 | ||
Investment securities available-for-sale | 336,933 | 391,457 | |
Equity Securities [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Investments in equity securities | 1,076 | ||
Equity Securities Available-for-Sale, Unrealized net gain | 666 | ||
Available-for-sale Securities, Accumulated Net Gain Net of Income Taxes | 433 | ||
Money Market Mutual Funds [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Investments in equity securities | $ 5,985 | ||
Callable [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Investment securities available-for-sale | 11,300 | ||
Other Noninterest Income [Member] | Equity Securities [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Net realized gain on investment securities | $ 26 | ||
Forecast [Member] | Accounting Standards Update 2017-08 | Debt Securities [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Reduction of unamortized premium balance | $ 50 | ||
Reduction of retained earnings, net of tax, for incremental amortization | 40 | ||
Forecast [Member] | Accounting Standards Update 2016-02 | Minimum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Operating lease, liability | 30,000 | ||
Operating lease, right-of-use asset | 30,000 | ||
Forecast [Member] | Accounting Standards Update 2016-02 | Maximum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Operating lease, liability | 40,000 | ||
Operating lease, right-of-use asset | $ 40,000 |
Earnings per Share - Basic and
Earnings per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share, Basic and Diluted [Abstract] | ||||
Net income | $ 14,964 | $ 11,196 | $ 32,171 | $ 33,830 |
Net income allocated to unvested restricted stock | (86) | (96) | (225) | (330) |
Net income allocated to common shares | $ 14,878 | $ 11,100 | $ 31,946 | $ 33,500 |
Weighted average shares outstanding | 29,402 | 26,666 | 29,387 | 26,653 |
Average unvested restricted stock | (170) | (229) | (204) | (265) |
Denominator for basic earnings per share—weighted-average shares outstanding | 29,232 | 26,437 | 29,183 | 26,388 |
Effect of dilutive securities—employee stock options | 86 | 105 | 92 | 102 |
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding | 29,318 | 26,542 | 29,275 | 26,490 |
Basic earnings per share | $ 0.51 | $ 0.42 | $ 1.10 | $ 1.27 |
Diluted earnings per share | $ 0.51 | $ 0.42 | $ 1.09 | $ 1.27 |
Average anti-dilutive options excluded from computation of diluted earnings per share | 359 | 185 | 315 | 166 |
Investment Securities - Narrati
Investment Securities - Narrative (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018USD ($)Investment | Dec. 31, 2017USD ($)Investment | |
Debt Securities, Available-for-sale [Line Items] | ||
Investments in equity securities | $ 7,061 | |
Carrying value of securities pledged to secure public deposits and other contractual obligations | $ 362,000 | 345,100 |
Pledging requirements for credit derivatives and SWAP agreements - securities | $ 300 | $ 1,800 |
Number of investments in non-federal issuer representing more than 10% of shareholders' equity | Investment | 0 | 0 |
Maximum investment in any single non-federal issuer representing shareholders' equity | 10.00% | 10.00% |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 14,418 | $ 6,714 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 114 | |
Money Market Mutual Funds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investments in equity securities | 5,985 | |
U.S. Government Corporations and Agencies [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 140 | 90 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 4 | |
Corporate Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 7,708 | 3,459 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 16 | |
Mortgage-Backed Securities [Domain] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 6,400 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 114 | |
State and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 84 | 32 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 9 | |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 108 | 82 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | |
Equity Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Investments in equity securities | 1,076 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | |
Unrealized Gain on Securities | $ 26 | |
Other Noninterest Income [Member] | Equity Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Net realized gain on investment securities | $ 26 |
Investment Securities - Held-to
Investment Securities - Held-to-Maturity and Available-for-Sale, Scheduled Maturities (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract] | ||
Securities Held-to-Maturity, Amortized Cost | $ 108,142 | $ 55,564 |
Securities Held-to-Maturity, Gross Unrealized Gains | 0 | 44 |
Securities Held-to-Maturity, Gross Unrealized Losses | (2,500) | (288) |
Securities Held-to-Maturity, Fair Value | 105,642 | 55,320 |
Debt Securities, Available-for-sale [Abstract] | ||
Equity Securities Available-for-Sale, Amortized Cost | 6,395 | |
Equity Securities Available-for-Sale, Gross Unrealized Gains | 667 | |
Equity Securities Available-for-Sale, Gross Unrealized Loss | (1) | |
Equity Securities Available-for-Sale, Fair Value | 7,061 | |
Securities Available-for-Sale, Amortized Cost | 353,228 | 404,766 |
Securities Available-for-Sale, Debt Securities, Fair Value | 336,933 | 391,457 |
Securities Available-for-Sale, Gross Unrealized Gain | 369 | 1,822 |
Securities Available-for-Sale, Gross Unrealized Loss | (16,664) | (8,070) |
Securities Available-for-Sale, Fair Value | 336,933 | 398,518 |
U.S. Government Corporations and Agencies [Member] | ||
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract] | ||
Securities Held-to-Maturity, Amortized Cost, After 1 year to 5 years | 6,996 | 6,995 |
Securities Held-to-Maturity, Gross Unrealized Gains, After 1 year to 5 years | 0 | 0 |
Securities Held-to-Maturity, Gross Unrealized Losses, After 1 year to 5 years | (214) | (77) |
Securities Held-to-Maturity, Fair Value, After 1 year to 5 years | 6,782 | 6,918 |
Securities Held-to-Maturity, Amortized Cost | 6,996 | 6,995 |
Securities Held-to-Maturity, Gross Unrealized Gains | 0 | 0 |
Securities Held-to-Maturity, Gross Unrealized Losses | (214) | (77) |
Securities Held-to-Maturity, Fair Value | 6,782 | 6,918 |
Debt Securities, Available-for-sale [Abstract] | ||
Securities Available-for-Sale, Amortized Cost, Within 1 year | 15,153 | 1,499 |
Securities Available-for-Sale, Gross Unrealized Gains, Within 1 year | 0 | 0 |
Securities Available-for-Sale, Gross Unrealized Losses, Within 1 year | (131) | (3) |
Securities Available-for-Sale, Fair Value, Within 1 year | 15,022 | 1,496 |
Securities Available-for-Sale, Amortized Cost, After 1 year to 5 years | 303 | 15,590 |
Securities Available-for-Sale, Gross Unrealized Gains, After 1 year to 5 years | 0 | 0 |
Securities Available-for-Sale, Gross Unrealized Losses, After 1 year to 5 years | (9) | (125) |
Securities Available-for-Sale, Fair Value, After 1 year to 5 years | 294 | 15,465 |
Securities Available-for-Sale, Amortized Cost | 15,456 | 17,089 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Gain | 0 | 0 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Losses | (140) | (128) |
Securities Available-for-Sale, Debt Securities, Fair Value | 15,316 | 16,961 |
State and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale [Abstract] | ||
Securities Available-for-Sale, Amortized Cost, Within 1 year | 5,943 | 2,721 |
Securities Available-for-Sale, Gross Unrealized Gains, Within 1 year | 0 | 1 |
Securities Available-for-Sale, Gross Unrealized Losses, Within 1 year | (11) | (6) |
Securities Available-for-Sale, Fair Value, Within 1 year | 5,932 | 2,716 |
Securities Available-for-Sale, Amortized Cost, After 1 year to 5 years | 12,569 | 16,787 |
Securities Available-for-Sale, Gross Unrealized Gains, After 1 year to 5 years | 15 | 33 |
Securities Available-for-Sale, Gross Unrealized Losses, After 1 year to 5 years | (97) | (44) |
Securities Available-for-Sale, Fair Value, After 1 year to 5 years | 12,487 | 16,776 |
Securities Available-for-Sale, Amortized Cost, After 5 years to 10 years | 46,803 | 54,846 |
Securities Available-for-Sale, Gross Unrealized Gains, After 5 years to 10 years | 303 | 897 |
Securities Available-for-Sale, Gross Unrealized Losses, After 5 years to 10 years | (631) | (73) |
Securities Available-for-Sale, Fair Value, After 5 years to 10 years | 46,475 | 55,670 |
Securities Available-for-Sale, Amortized Cost, Over 10 years | 3,120 | 3,120 |
Securities Available-for-Sale, Gross Unrealized Gains, Over 10 years | 0 | 15 |
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 years | (122) | 0 |
Securities Available-for-Sale, Fair Value, Over 10 years | 2,998 | 3,135 |
Securities Available-for-Sale, Amortized Cost | 68,435 | 77,474 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Gain | 318 | 946 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Losses | (861) | (123) |
Securities Available-for-Sale, Debt Securities, Fair Value | 67,892 | 78,297 |
Residential Mortgage Backed Securities [Member] | ||
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract] | ||
Securities Held-to-Maturity, Amortized Cost, After 5 years to 10 years | 12,190 | 8,944 |
Securities Held-to-Maturity, Gross Unrealized Gains, After 5 years to 10 years | 0 | 0 |
Securities Held-to-Maturity, Gross Unrecognized Losses, After 5 years to 10 years | (279) | (51) |
Securities Held-to-Maturity, Fair Value, After 5 years to 10 years | 11,911 | 8,893 |
Securities Held-to-Maturity, Amortized Cost, Over 10 years | 88,956 | 39,625 |
Securities Held-to-Maturity, Gross Unrealized Gain, Over 10 years | 0 | 44 |
Securities Held-to-Maturity, Gross Unrealized Losses, Over 10 years | (2,007) | (160) |
Securities Held-to-Maturity, Fair Value, After 10 Years | 86,949 | 39,509 |
Securities Held-to-Maturity, Amortized Cost | 101,146 | 48,569 |
Securities Held-to-Maturity, Gross Unrealized Gains | 0 | 44 |
Securities Held-to-Maturity, Gross Unrealized Losses | (2,286) | (211) |
Securities Held-to-Maturity, Fair Value | 98,860 | 48,402 |
Debt Securities, Available-for-sale [Abstract] | ||
Securities Available-for-Sale, Amortized Cost, After 1 year to 5 years | 4,887 | 3,913 |
Securities Available-for-Sale, Gross Unrealized Gains, After 1 year to 5 years | 0 | 12 |
Securities Available-for-Sale, Gross Unrealized Losses, After 1 year to 5 years | (102) | (26) |
Securities Available-for-Sale, Fair Value, After 1 year to 5 years | 4,785 | 3,899 |
Securities Available-for-Sale, Amortized Cost, After 5 years to 10 years | 53,041 | 51,428 |
Securities Available-for-Sale, Gross Unrealized Gains, After 5 years to 10 years | 6 | 5 |
Securities Available-for-Sale, Gross Unrealized Losses, After 5 years to 10 years | (2,231) | (852) |
Securities Available-for-Sale, Fair Value, After 5 years to 10 years | 50,816 | 50,581 |
Securities Available-for-Sale, Amortized Cost, Over 10 years | 105,808 | 133,237 |
Securities Available-for-Sale, Gross Unrealized Gains, Over 10 years | 22 | 87 |
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 years | (5,017) | (2,383) |
Securities Available-for-Sale, Fair Value, Over 10 years | 100,813 | 130,941 |
Securities Available-for-Sale, Amortized Cost | 163,736 | 188,578 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Gain | 28 | 104 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Losses | (7,350) | (3,261) |
Securities Available-for-Sale, Debt Securities, Fair Value | 156,414 | 185,421 |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Abstract] | ||
Securities Available-for-Sale, Amortized Cost, After 5 years to 10 years | 1,772 | 2,103 |
Securities Available-for-Sale, Gross Unrealized Gains, After 5 years to 10 years | 0 | 0 |
Securities Available-for-Sale, Gross Unrealized Losses, After 5 years to 10 years | (108) | (82) |
Securities Available-for-Sale, Fair Value, After 5 years to 10 years | 1,664 | 2,021 |
Securities Available-for-Sale, Amortized Cost, Over 10 years | 1,347 | 1,567 |
Securities Available-for-Sale, Gross Unrealized Gains, Over 10 years | 0 | 14 |
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 years | (30) | 0 |
Securities Available-for-Sale, Fair Value, Over 10 years | 1,317 | 1,581 |
Securities Available-for-Sale, Amortized Cost | 3,119 | 3,670 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Gain | 0 | 14 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Losses | (138) | (82) |
Securities Available-for-Sale, Debt Securities, Fair Value | 2,981 | 3,602 |
Corporate Bonds [Member] | ||
Debt Securities, Available-for-sale [Abstract] | ||
Securities Available-for-Sale, Amortized Cost, Within 1 year | 2,506 | 10,006 |
Securities Available-for-Sale, Gross Unrealized Gains, Within 1 year | 0 | 0 |
Securities Available-for-Sale, Gross Unrealized Losses, Within 1 year | (10) | (5) |
Securities Available-for-Sale, Fair Value, Within 1 year | 2,496 | 10,001 |
Securities Available-for-Sale, Amortized Cost, After 1 year to 5 years | 23,824 | 24,885 |
Securities Available-for-Sale, Gross Unrealized Gains, After 1 year to 5 years | 21 | 20 |
Securities Available-for-Sale, Gross Unrealized Losses, After 1 year to 5 years | (442) | (147) |
Securities Available-for-Sale, Fair Value, After 1 year to 5 years | 23,403 | 24,758 |
Securities Available-for-Sale, Amortized Cost, After 5 years to 10 years | 16,152 | 16,669 |
Securities Available-for-Sale, Gross Unrealized Gains, After 5 years to 10 years | 2 | 71 |
Securities Available-for-Sale, Gross Unrealized Losses, After 5 years to 10 years | (537) | (296) |
Securities Available-for-Sale, Fair Value, After 5 years to 10 years | 15,617 | 16,444 |
Securities Available-for-Sale, Amortized Cost, Over 10 years | 60,000 | 60,000 |
Securities Available-for-Sale, Gross Unrealized Gains, Over 10 years | 0 | 0 |
Securities Available-for-Sale, Gross Unrealized Losses, Over 10 years | (7,186) | (4,027) |
Securities Available-for-Sale, Fair Value, Over 10 years | 52,814 | 55,973 |
Securities Available-for-Sale, Amortized Cost | 102,482 | 111,560 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Gain | 23 | 91 |
Securities Available-for-Sale, Debt Securities, Gross Unrealized Losses | (8,175) | (4,475) |
Securities Available-for-Sale, Debt Securities, Fair Value | $ 94,330 | 107,176 |
Equity Securities [Member] | ||
Debt Securities, Available-for-sale [Abstract] | ||
Equity Securities Available-for-Sale, Fair Value | $ 1,076 |
Investment Securities - Informa
Investment Securities - Information Related to Sales of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Securities available-for-sale: | ||
Proceeds from sales | $ 1,010 | $ 3,538 |
Gross realized gains on sales | 10 | 43 |
Tax expense related to net realized gains on sales | $ 2 | $ 15 |
Investment Securities - Amount
Investment Securities - Amount of Securities in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than Twelve Months, Fair Value | $ 89,833 | $ 47,800 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,963) | (288) |
Twelve Months or Longer, Fair Value | 15,809 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (537) | 0 |
Total, Fair Value | 105,642 | 47,800 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (2,500) | (288) |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 83,319 | 74,351 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,246) | (1,356) |
Twelve Months or Longer, Fair Value | 221,541 | 233,434 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (14,418) | (6,714) |
Total, Fair Value | 304,860 | 307,785 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (16,664) | (8,070) |
U.S. Government Corporations and Agencies [Member] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than Twelve Months, Fair Value | 0 | 6,919 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (77) |
Twelve Months or Longer, Fair Value | 6,782 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (214) | 0 |
Total, Fair Value | 6,782 | 6,919 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (214) | (77) |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 0 | 5,213 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (38) |
Twelve Months or Longer, Fair Value | 15,316 | 11,749 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (140) | (90) |
Total, Fair Value | 15,316 | 16,962 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (140) | (128) |
State and Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 33,509 | 18,457 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (777) | (91) |
Twelve Months or Longer, Fair Value | 7,476 | 6,332 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (84) | (32) |
Total, Fair Value | 40,985 | 24,789 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (861) | (123) |
Residential Mortgage-Backed Securities [Member] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than Twelve Months, Fair Value | 89,833 | 40,881 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,963) | (211) |
Twelve Months or Longer, Fair Value | 9,027 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (323) | 0 |
Total, Fair Value | 98,860 | 40,881 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (2,286) | (211) |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 27,331 | 32,217 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (972) | (210) |
Twelve Months or Longer, Fair Value | 127,441 | 141,371 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (6,378) | (3,051) |
Total, Fair Value | 154,772 | 173,588 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (7,350) | (3,261) |
Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 1,317 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (30) | 0 |
Twelve Months or Longer, Fair Value | 1,664 | 2,021 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (108) | (82) |
Total, Fair Value | 2,981 | 2,021 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (138) | (82) |
Corporate Bonds [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 21,162 | 18,464 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (467) | (1,016) |
Twelve Months or Longer, Fair Value | 69,644 | 71,957 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (7,708) | (3,459) |
Total, Fair Value | 90,806 | 90,421 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (8,175) | (4,475) |
Equity Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than Twelve Months, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | |
Twelve Months or Longer, Fair Value | 4 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total, Fair Value | 4 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (1) |
Loans and Leases - Narrative (D
Loans and Leases - Narrative (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable Net of Deferred Income, Acquired | $ 413,588 | $ 538,780 |
Carrying amount | 900 | 1,583 |
Nonaccrual Loans and Leases | 27,559 | 14,517 |
Other accruing impaired loans | 1,900 | 4,100 |
Specific reserves for other accruing impaired loans | 0 | 99 |
Impaired loans with no related reserve, Recorded Investment | 15,313 | 27,454 |
Impaired Financing Receivable, Related Reserve | $ 1,048 | 131 |
Maximum modification period on short-term basis | 1 year | |
Restructured loan past due period | 90 days | |
Lease Financings [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable Net of Deferred Income, Acquired | $ 0 | 0 |
Nonaccrual Loans and Leases | 1,542 | 1,599 |
Impaired loans with no related reserve, Recorded Investment | 1,300 | 1,300 |
Impaired Financing Receivable, Related Reserve | 0 | $ 0 |
Fox Chase Bank [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable Net of Deferred Income, Acquired | 339,300 | |
Carrying amount | 246 | |
Valley Green Bank [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable Net of Deferred Income, Acquired | 74,300 | |
Carrying amount | 654 | |
Minimum [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount of Loan Relationship Balance, Loans Reviewed Annually | 1,000 | |
Amount of Loan Relationship Balance, Reviewed Quarterly | 15,000 | |
Maximum [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Amount of Loan Relationship Balance, Loans Reviewed on a Performance Basis | $ 1,000 |
Loans and Leases - Summary of M
Loans and Leases - Summary of Major Loan and Lease Categories (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | $ 3,452,581 | $ 3,081,287 | |
Total Loans and Leases Held for Investment, Acquired | 413,588 | 538,780 | |
Total Loans and Leases Held for Investment | 3,866,169 | 3,620,067 | $ 3,487,164 |
Unearned Lease Income, Originated | (15,079) | (14,243) | |
Unearned Lease Income, Acquired | 0 | 0 | |
Unearned lease income, included in the above table | (15,079) | (14,243) | |
Net deferred costs, Originated | 4,064 | 4,669 | |
Net deferred costs, Acquired | 0 | 0 | |
Net deferred costs, included in the above table | 4,064 | 4,669 | |
Overdraft Deposits, Originated | 156 | 222 | |
Overdraft Deposits, Acquired | 0 | 0 | |
Overdraft deposits included in the above table | 156 | 222 | |
Commercial, Financial and Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 867,636 | 833,100 | |
Total Loans and Leases Held for Investment, Acquired | 26,686 | 63,111 | |
Total Loans and Leases Held for Investment | 894,322 | 896,211 | 859,217 |
Real Estate-Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 1,442,681 | 1,235,681 | |
Total Loans and Leases Held for Investment, Acquired | 254,462 | 306,460 | |
Total Loans and Leases Held for Investment | 1,697,143 | 1,542,141 | |
Real Estate-Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 188,895 | 171,244 | |
Total Loans and Leases Held for Investment, Acquired | 3,742 | 4,592 | |
Total Loans and Leases Held for Investment | 192,637 | 175,836 | |
Real Estate-Residential Secured for Business Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 279,800 | 250,800 | |
Total Loans and Leases Held for Investment, Acquired | 66,531 | 91,167 | |
Total Loans and Leases Held for Investment | 346,331 | 341,967 | 310,020 |
Real Estate Residential Secured For Personal Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 327,833 | 260,654 | |
Total Loans and Leases Held for Investment, Acquired | 52,676 | 60,920 | |
Total Loans and Leases Held for Investment | 380,509 | 321,574 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 177,632 | 171,884 | |
Total Loans and Leases Held for Investment, Acquired | 9,349 | 12,386 | |
Total Loans and Leases Held for Investment | 186,981 | 184,270 | |
Loans to Individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 32,096 | 28,156 | |
Total Loans and Leases Held for Investment, Acquired | 142 | 144 | |
Total Loans and Leases Held for Investment | 32,238 | 28,300 | 27,441 |
Lease Financings [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans and Leases Held for Investment, Originated | 136,008 | 129,768 | |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 | |
Total Loans and Leases Held for Investment | $ 136,008 | $ 129,768 | $ 124,138 |
Loans and Leases - Acquired Cre
Loans and Leases - Acquired Credit Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Receivables [Abstract] | |||
Outstanding principal balance | $ 1,218 | $ 2,325 | |
Carrying amount | 900 | 1,583 | |
Allowance for loan losses | 0 | $ 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |||
Beginning of period | 11 | $ 50 | |
Reclassification from nonaccretable discount | 453 | 823 | |
Accretable discount amortized to interest income | (464) | (850) | |
Disposals | 0 | (4) | |
End of period | $ 0 | $ 19 |
Loans and Leases - Age Analysis
Loans and Leases - Age Analysis of Past Due Loans and Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | $ 29,153 | $ 25,143 | |
Current | 3,836,116 | 3,593,341 | |
Acquired Credit Impaired | 900 | 1,583 | |
Loans and leases held for investment | 3,866,169 | 3,620,067 | $ 3,487,164 |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 1,224 | 761 | |
Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 900 | 1,583 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 7,857 | 13,682 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 12,412 | 4,285 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 8,884 | 7,176 | |
Commercial, Financial and Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 10,815 | 5,131 | |
Current | 883,325 | 890,658 | |
Loans and leases held for investment | 894,322 | 896,211 | 859,217 |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 0 | 0 | |
Commercial, Financial and Agricultural [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 182 | 422 | |
Commercial, Financial and Agricultural [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 661 | 2,182 | |
Commercial, Financial and Agricultural [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 9,151 | 1,440 | |
Commercial, Financial and Agricultural [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,003 | 1,509 | |
Real Estate-Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,854 | 2,691 | |
Current | 1,694,083 | 1,539,094 | |
Loans and leases held for investment | 1,697,143 | 1,542,141 | |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 83 | 0 | |
Real Estate-Commercial [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 206 | 356 | |
Real Estate-Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,168 | 733 | |
Real Estate-Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 373 | 548 | |
Real Estate-Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,313 | 1,410 | |
Real Estate-Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 2,335 | |
Current | 192,637 | 173,501 | |
Loans and leases held for investment | 192,637 | 175,836 | |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 0 | 0 | |
Real Estate-Construction [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 0 | 0 | |
Real Estate-Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 1,970 | |
Real Estate-Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 0 | |
Real Estate-Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 0 | 365 | |
Real Estate-Residential Secured for Business Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 3,533 | 3,321 | |
Current | 342,350 | 338,061 | |
Loans and leases held for investment | 346,331 | 341,967 | 310,020 |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 0 | 162 | |
Real Estate-Residential Secured for Business Purpose [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 448 | 585 | |
Real Estate-Residential Secured for Business Purpose [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,221 | 1,651 | |
Real Estate-Residential Secured for Business Purpose [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 47 | 315 | |
Real Estate-Residential Secured for Business Purpose [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,265 | 1,355 | |
Real Estate Residential Secured For Personal Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 4,803 | 5,509 | |
Current | 375,642 | 315,845 | |
Loans and leases held for investment | 380,509 | 321,574 | |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 0 | 0 | |
Real Estate Residential Secured For Personal Purpose [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 64 | 220 | |
Real Estate Residential Secured For Personal Purpose [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 2,403 | 4,368 | |
Real Estate Residential Secured For Personal Purpose [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 981 | 1,118 | |
Real Estate Residential Secured For Personal Purpose [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,419 | 23 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,924 | 2,211 | |
Current | 185,057 | 182,059 | |
Loans and leases held for investment | 186,981 | 184,270 | |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 128 | 148 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 0 | 0 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 406 | 1,414 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 189 | 333 | |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,329 | 464 | |
Loans to Individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 298 | 555 | |
Current | 31,940 | 27,745 | |
Loans and leases held for investment | 32,238 | 28,300 | 27,441 |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 165 | 195 | |
Loans to Individuals [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 0 | 0 | |
Loans to Individuals [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 101 | 221 | |
Loans to Individuals [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 32 | 139 | |
Loans to Individuals [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 165 | 195 | |
Lease Financings [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 4,926 | 3,390 | |
Current | 131,082 | 126,378 | |
Loans and leases held for investment | 136,008 | 129,768 | $ 124,138 |
Recorded Investment 90 Days or more Past Due and Accruing Interest | 848 | 256 | |
Lease Financings [Member] | Valley Green Bank and Fox Chase Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Acquired Credit Impaired | 0 | 0 | |
Lease Financings [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 897 | 1,143 | |
Lease Financings [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | 1,639 | 392 | |
Lease Financings [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due | $ 2,390 | $ 1,855 |
Loans and Leases - Nonperformin
Loans and Leases - Nonperforming Loans and Leases (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($)borrowers | |
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | $ 15,313 | $ 15,313 | $ 27,454 | ||
Nonaccrual Loans and Leases | 27,559 | 27,559 | 14,517 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 766 | 766 | 11,435 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 1,224 | 1,224 | 761 | ||
Total Nonperforming Loans and Leases | 29,549 | 29,549 | 26,713 | ||
Nonaccrual Troubled Debt Restructured Loans And Lease Modifications | 1,300 | 1,300 | $ 2,500 | ||
Number of Borrowers | borrowers | 1 | ||||
Impaired Financing Receivable, Related Reserve | 1,048 | 1,048 | $ 131 | ||
Commercial, Financial and Agricultural [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 3,958 | 3,958 | 7,019 | ||
Nonaccrual Loans and Leases | 2,795 | 2,795 | 4,448 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 595 | 595 | 921 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 0 | 0 | 0 | ||
Total Nonperforming Loans and Leases | 3,390 | 3,390 | 5,369 | ||
Impaired Financing Receivable, Related Reserve | 211 | 211 | 31 | ||
Real Estate-Commercial [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 7,110 | 7,110 | 15,621 | ||
Nonaccrual Loans and Leases | 18,425 | 18,425 | 4,285 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 10,266 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 83 | 83 | 0 | ||
Total Nonperforming Loans and Leases | 18,508 | 18,508 | 14,551 | ||
Impaired Financing Receivable, Related Reserve | 645 | 645 | 99 | ||
Real Estate-Construction [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 106 | 106 | 365 | ||
Nonaccrual Loans and Leases | 106 | 106 | 365 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 0 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 0 | 0 | 0 | ||
Total Nonperforming Loans and Leases | 106 | 106 | 365 | ||
Impaired Financing Receivable, Related Reserve | 0 | 0 | 0 | ||
Real Estate-Residential Secured for Business Purpose [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 1,588 | 1,588 | 3,430 | ||
Nonaccrual Loans and Leases | 1,416 | 1,416 | 2,843 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 171 | 171 | 206 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 0 | 0 | 162 | ||
Total Nonperforming Loans and Leases | 1,587 | 1,587 | 3,211 | ||
Impaired Financing Receivable, Related Reserve | 0 | 0 | 1 | ||
Real Estate-Residential Secured for Personal Purpose [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 1,091 | 1,091 | 508 | ||
Nonaccrual Loans and Leases | 1,815 | 1,815 | 466 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 42 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 0 | 0 | 0 | ||
Total Nonperforming Loans and Leases | 1,815 | 1,815 | 508 | ||
Impaired Financing Receivable, Related Reserve | 192 | 192 | 0 | ||
Real Estate-Home Equity Secured for Personal Purpose [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 1,460 | 1,460 | 511 | ||
Nonaccrual Loans and Leases | 1,460 | 1,460 | 511 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 0 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 128 | 128 | 148 | ||
Total Nonperforming Loans and Leases | 1,588 | 1,588 | 659 | ||
Impaired Financing Receivable, Related Reserve | 0 | 0 | 0 | ||
Loans to Individuals [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Nonaccrual Loans and Leases | 0 | 0 | 0 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 0 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 165 | 165 | 195 | ||
Total Nonperforming Loans and Leases | 165 | 165 | 195 | ||
Lease Financings [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Impaired loans with no related reserve, Recorded Investment | 1,300 | 1,300 | 1,300 | ||
Nonaccrual Loans and Leases | 1,542 | 1,542 | 1,599 | ||
Accruing Troubled Debt Restructured Loans And Lease Modifications | 0 | 0 | 0 | ||
Loans and Leases 90 Days or more Past Due and Accruing Interest | 848 | 848 | 256 | ||
Total Nonperforming Loans and Leases | 2,390 | 2,390 | 1,855 | ||
Impaired Financing Receivable, Related Reserve | 0 | 0 | 0 | ||
Accrual Troubled Debt Restructuring Loans [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Pre- Restructuring Outstanding Recorded Investment | 0 | $ 0 | 0 | $ 9,206 | |
Accrual Troubled Debt Restructuring Loans [Member] | Real Estate-Commercial [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Pre- Restructuring Outstanding Recorded Investment | 0 | $ 9,206 | |||
Non-Accrual [Member] | Real Estate-Commercial [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Nonaccrual Loans and Leases | 11,800 | 11,800 | |||
Impaired Financing Receivable, Related Reserve | $ 645 | $ 645 | |||
Amortization Period Extension [Member] | Accrual Troubled Debt Restructuring Loans [Member] | |||||
Nonperforming Loans and Leases [Line Items] | |||||
Pre- Restructuring Outstanding Recorded Investment | $ 10,300 |
Loans and Leases - Credit Quali
Loans and Leases - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | $ 3,452,581 | $ 3,081,287 |
Total Loans and Leases Held for Investment, Acquired | 413,588 | 538,780 |
Grade: 1. Cash secured/ 2. Fully secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 26,079 | 22,941 |
Total Loans and Leases Held for Investment, Acquired | 0 | 1,120 |
Grade: 3. Strong [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 15,068 | 11,027 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Grade: 4. Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 43,101 | 57,507 |
Total Loans and Leases Held for Investment, Acquired | 0 | 607 |
Grade: 5. Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 1,962,614 | 1,846,112 |
Total Loans and Leases Held for Investment, Acquired | 234,413 | 306,841 |
Grade: 6. Pre-watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 634,674 | 491,740 |
Total Loans and Leases Held for Investment, Acquired | 96,380 | 125,613 |
Grade: 7. Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 65,328 | 18,689 |
Total Loans and Leases Held for Investment, Acquired | 5,259 | 18,035 |
Grade: 8. Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 32,148 | 42,809 |
Total Loans and Leases Held for Investment, Acquired | 15,369 | 13,114 |
Grade: 9. Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Grade: 10. Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Internally Assigned Grades [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 2,779,012 | 2,490,825 |
Total Loans and Leases Held for Investment, Acquired | 351,421 | 465,330 |
Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 669,802 | 587,990 |
Total Loans and Leases Held for Investment, Acquired | 59,976 | 72,705 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 3,767 | 2,472 |
Total Loans and Leases Held for Investment, Acquired | 2,191 | 745 |
Performing and Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 673,569 | 590,462 |
Total Loans and Leases Held for Investment, Acquired | 62,167 | 73,450 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 867,636 | 833,100 |
Total Loans and Leases Held for Investment, Acquired | 26,686 | 63,111 |
Commercial, Financial and Agricultural [Member] | Grade: 1. Cash secured/ 2. Fully secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 2,789 | 2,521 |
Total Loans and Leases Held for Investment, Acquired | 0 | 1,120 |
Commercial, Financial and Agricultural [Member] | Grade: 3. Strong [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 14,369 | 9,206 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Grade: 4. Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 18,511 | 30,283 |
Total Loans and Leases Held for Investment, Acquired | 0 | 125 |
Commercial, Financial and Agricultural [Member] | Grade: 5. Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 575,671 | 593,205 |
Total Loans and Leases Held for Investment, Acquired | 23,085 | 49,949 |
Commercial, Financial and Agricultural [Member] | Grade: 6. Pre-watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 222,325 | 179,990 |
Total Loans and Leases Held for Investment, Acquired | 2,475 | 6,183 |
Commercial, Financial and Agricultural [Member] | Grade: 7. Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 26,323 | 4,027 |
Total Loans and Leases Held for Investment, Acquired | 838 | 1,007 |
Commercial, Financial and Agricultural [Member] | Grade: 8. Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 7,648 | 13,868 |
Total Loans and Leases Held for Investment, Acquired | 288 | 4,727 |
Commercial, Financial and Agricultural [Member] | Grade: 9. Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Grade: 10. Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Commercial, Financial and Agricultural [Member] | Internally Assigned Grades [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 867,636 | 833,100 |
Total Loans and Leases Held for Investment, Acquired | 26,686 | 63,111 |
Real Estate-Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 1,442,681 | 1,235,681 |
Total Loans and Leases Held for Investment, Acquired | 254,462 | 306,460 |
Real Estate-Commercial [Member] | Grade: 1. Cash secured/ 2. Fully secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Commercial [Member] | Grade: 3. Strong [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 699 | 1,821 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Commercial [Member] | Grade: 4. Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 24,325 | 26,950 |
Total Loans and Leases Held for Investment, Acquired | 0 | 482 |
Real Estate-Commercial [Member] | Grade: 5. Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 1,072,909 | 960,258 |
Total Loans and Leases Held for Investment, Acquired | 155,221 | 183,490 |
Real Estate-Commercial [Member] | Grade: 6. Pre-watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 287,933 | 209,844 |
Total Loans and Leases Held for Investment, Acquired | 81,048 | 98,977 |
Real Estate-Commercial [Member] | Grade: 7. Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 35,402 | 12,974 |
Total Loans and Leases Held for Investment, Acquired | 4,421 | 17,028 |
Real Estate-Commercial [Member] | Grade: 8. Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 21,413 | 23,834 |
Total Loans and Leases Held for Investment, Acquired | 13,772 | 6,483 |
Real Estate-Commercial [Member] | Grade: 9. Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Commercial [Member] | Grade: 10. Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Commercial [Member] | Internally Assigned Grades [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 1,442,681 | 1,235,681 |
Total Loans and Leases Held for Investment, Acquired | 254,462 | 306,460 |
Real Estate-Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 188,895 | 171,244 |
Total Loans and Leases Held for Investment, Acquired | 3,742 | 4,592 |
Real Estate-Construction [Member] | Grade: 1. Cash secured/ 2. Fully secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 23,290 | 20,420 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 3. Strong [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 4. Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 5. Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 77,773 | 76,899 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 6. Pre-watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 86,326 | 72,168 |
Total Loans and Leases Held for Investment, Acquired | 3,742 | 4,592 |
Real Estate-Construction [Member] | Grade: 7. Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 1,400 | 1,392 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 8. Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 106 | 365 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 9. Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Grade: 10. Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Construction [Member] | Internally Assigned Grades [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 188,895 | 171,244 |
Total Loans and Leases Held for Investment, Acquired | 3,742 | 4,592 |
Real Estate-Residential Secured for Business Purpose [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 279,800 | 250,800 |
Total Loans and Leases Held for Investment, Acquired | 66,531 | 91,167 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 1. Cash secured/ 2. Fully secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 3. Strong [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 4. Satisfactory [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 265 | 274 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 5. Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 236,261 | 215,750 |
Total Loans and Leases Held for Investment, Acquired | 56,107 | 73,402 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 6. Pre-watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 38,090 | 29,738 |
Total Loans and Leases Held for Investment, Acquired | 9,115 | 15,861 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 7. Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 2,203 | 296 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 8. Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 2,981 | 4,742 |
Total Loans and Leases Held for Investment, Acquired | 1,309 | 1,904 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 9. Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Grade: 10. Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 0 | 0 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | Internally Assigned Grades [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 279,800 | 250,800 |
Total Loans and Leases Held for Investment, Acquired | 66,531 | 91,167 |
Real Estate Residential Secured For Personal Purpose [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 327,833 | 260,654 |
Total Loans and Leases Held for Investment, Acquired | 52,676 | 60,920 |
Real Estate Residential Secured For Personal Purpose [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 327,138 | 260,589 |
Total Loans and Leases Held for Investment, Acquired | 51,556 | 60,477 |
Real Estate Residential Secured For Personal Purpose [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 695 | 65 |
Total Loans and Leases Held for Investment, Acquired | 1,120 | 443 |
Real Estate Residential Secured For Personal Purpose [Member] | Performing and Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 327,833 | 260,654 |
Total Loans and Leases Held for Investment, Acquired | 52,676 | 60,920 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 177,632 | 171,884 |
Total Loans and Leases Held for Investment, Acquired | 9,349 | 12,386 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 177,115 | 171,527 |
Total Loans and Leases Held for Investment, Acquired | 8,278 | 12,084 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 517 | 357 |
Total Loans and Leases Held for Investment, Acquired | 1,071 | 302 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | Performing and Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 177,632 | 171,884 |
Total Loans and Leases Held for Investment, Acquired | 9,349 | 12,386 |
Loans to Individuals [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 32,096 | 28,156 |
Total Loans and Leases Held for Investment, Acquired | 142 | 144 |
Loans to Individuals [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 31,931 | 27,961 |
Total Loans and Leases Held for Investment, Acquired | 142 | 144 |
Loans to Individuals [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 165 | 195 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Loans to Individuals [Member] | Performing and Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 32,096 | 28,156 |
Total Loans and Leases Held for Investment, Acquired | 142 | 144 |
Lease Financings [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 136,008 | 129,768 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Lease Financings [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 133,618 | 127,913 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Lease Financings [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 2,390 | 1,855 |
Total Loans and Leases Held for Investment, Acquired | 0 | 0 |
Lease Financings [Member] | Performing and Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans and Leases Held for Investment, Originated | 136,008 | 129,768 |
Total Loans and Leases Held for Investment, Acquired | $ 0 | $ 0 |
Loans and Leases - Reserve for
Loans and Leases - Reserve for Loan and Lease Losses Roll Forward (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Jun. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | $ 25,652 | $ 20,910 | $ 21,555 | $ 17,499 | |
Charge-offs | (1,139) | (3,587) | (15,304) | (6,002) | |
Recoveries | 113 | 531 | 913 | 1,146 | |
Provision (recovery of provision) | 2,744 | 2,690 | 20,205 | 7,899 | |
Provision for acquired credit impaired loans | 1 | (1) | 2 | 1 | |
Ending balance | 27,371 | $ 25,652 | 20,543 | 27,371 | 20,543 |
Commercial, Financial and Agricultural [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 7,258 | 8,313 | 6,742 | 7,037 | |
Charge-offs | (904) | (12,700) | (290) | (14,553) | (576) |
Recoveries | 22 | 325 | 271 | 722 | |
Provision (recovery of provision) | 813 | (1,732) | 14,729 | (567) | |
Provision for acquired credit impaired loans | 0 | 0 | 0 | 0 | |
Ending balance | 7,189 | 7,258 | 6,616 | 7,189 | 6,616 |
Real Estate-Commercial and Construction [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 12,327 | 8,468 | 9,839 | 7,505 | |
Charge-offs | 0 | 0 | (40) | (30) | |
Recoveries | 1 | 1 | 74 | 4 | |
Provision (recovery of provision) | 906 | 787 | 3,361 | 1,777 | |
Provision for acquired credit impaired loans | 0 | 0 | 0 | 0 | |
Ending balance | 13,234 | 12,327 | 9,256 | 13,234 | 9,256 |
Real Estate-Residential Secured for Business Purpose [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 2,004 | 1,129 | 1,661 | 774 | |
Charge-offs | (30) | (56) | (30) | (1,237) | |
Recoveries | 8 | 29 | 266 | 47 | |
Provision (recovery of provision) | 72 | 204 | 157 | 1,722 | |
Provision for acquired credit impaired loans | 0 | (1) | 0 | (1) | |
Ending balance | 2,054 | 2,004 | 1,305 | 2,054 | 1,305 |
Real Estate-Residential and Home Equity Secured for Personal Purpose [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 2,494 | 974 | 1,754 | 993 | |
Charge-offs | 0 | (83) | 0 | (177) | |
Recoveries | 6 | 68 | 71 | 89 | |
Provision (recovery of provision) | 527 | 756 | 1,201 | 808 | |
Provision for acquired credit impaired loans | 1 | 0 | 2 | 2 | |
Ending balance | 3,028 | 2,494 | 1,715 | 3,028 | 1,715 |
Loans to Individuals [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 447 | 329 | 373 | 364 | |
Charge-offs | (82) | (61) | (253) | (301) | |
Recoveries | 25 | 35 | 71 | 116 | |
Provision (recovery of provision) | 82 | 51 | 281 | 175 | |
Provision for acquired credit impaired loans | 0 | 0 | 0 | 0 | |
Ending balance | 472 | 447 | 354 | 472 | 354 |
Lease Financings [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 1,071 | 1,660 | 1,132 | 788 | |
Charge-offs | (123) | (3,097) | (428) | (3,681) | |
Recoveries | 51 | 73 | 160 | 168 | |
Provision (recovery of provision) | 138 | 2,654 | 273 | 4,015 | |
Provision for acquired credit impaired loans | 0 | 0 | 0 | 0 | |
Ending balance | 1,137 | 1,071 | 1,290 | 1,137 | 1,290 |
Unallocated Financing Receivables [Member] | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Beginning balance | 51 | 37 | 54 | 38 | |
Provision (recovery of provision) | 206 | (30) | 203 | (31) | |
Provision for acquired credit impaired loans | 0 | 0 | 0 | 0 | |
Ending balance | $ 257 | $ 51 | $ 7 | $ 257 | $ 7 |
Loans and Leases - Reserve fo_2
Loans and Leases - Reserve for Loan and Lease Losses and Recorded Investment in Loans and Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | $ 1,048 | $ 88 | ||||
Ending balance: collectively evaluated for impairment | 26,198 | 20,455 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 125 | |||||
Total ending balance | 27,371 | $ 25,652 | $ 21,555 | 20,543 | $ 20,910 | $ 17,499 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 29,972 | 31,810 | ||||
Ending balance: collectively evaluated for impairment | 3,420,808 | 2,857,157 | ||||
Loans measured at fair value | 1,801 | 2,014 | ||||
Acquired non-credit impaired loans | 412,688 | 594,561 | ||||
Acquired credit impaired loans | 900 | 1,622 | ||||
Total Loans and Leases Held for Investment | 3,866,169 | 3,620,067 | 3,487,164 | |||
Commercial, Financial and Agricultural [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 211 | 15 | ||||
Ending balance: collectively evaluated for impairment | 6,978 | 6,601 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 0 | |||||
Total ending balance | 7,189 | 7,258 | 6,742 | 6,616 | 8,313 | 7,037 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 4,889 | 7,883 | ||||
Ending balance: collectively evaluated for impairment | 862,747 | 774,886 | ||||
Loans measured at fair value | 0 | 0 | ||||
Acquired non-credit impaired loans | 26,504 | 75,983 | ||||
Acquired credit impaired loans | 182 | 465 | ||||
Total Loans and Leases Held for Investment | 894,322 | 896,211 | 859,217 | |||
Real Estate-Commercial and Construction [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 645 | 40 | ||||
Ending balance: collectively evaluated for impairment | 12,504 | 9,216 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 85 | |||||
Total ending balance | 13,234 | 12,327 | 9,839 | 9,256 | 8,468 | 7,505 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 18,970 | 17,274 | ||||
Ending balance: collectively evaluated for impairment | 1,610,805 | 1,307,585 | ||||
Loans measured at fair value | 1,801 | 2,014 | ||||
Acquired non-credit impaired loans | 257,998 | 344,818 | ||||
Acquired credit impaired loans | 206 | 356 | ||||
Total Loans and Leases Held for Investment | 1,889,780 | 1,672,047 | ||||
Real Estate-Residential Secured for Business Purpose [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 0 | 33 | ||||
Ending balance: collectively evaluated for impairment | 2,014 | 1,272 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 40 | |||||
Total ending balance | 2,054 | 2,004 | 1,661 | 1,305 | 1,129 | 774 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 1,588 | 4,471 | ||||
Ending balance: collectively evaluated for impairment | 278,212 | 209,340 | ||||
Loans measured at fair value | 0 | 0 | ||||
Acquired non-credit impaired loans | 66,083 | 95,625 | ||||
Acquired credit impaired loans | 448 | 584 | ||||
Total Loans and Leases Held for Investment | 346,331 | 341,967 | 310,020 | |||
Real Estate-Residential and Home Equity Secured for Personal Purpose [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 192 | 0 | ||||
Ending balance: collectively evaluated for impairment | 2,836 | 1,715 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 0 | |||||
Total ending balance | 3,028 | 2,494 | 1,754 | 1,715 | 974 | 993 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 3,275 | 932 | ||||
Ending balance: collectively evaluated for impairment | 502,190 | 415,161 | ||||
Loans measured at fair value | 0 | 0 | ||||
Acquired non-credit impaired loans | 61,961 | 77,991 | ||||
Acquired credit impaired loans | 64 | 217 | ||||
Total Loans and Leases Held for Investment | 567,490 | 494,301 | ||||
Loans to Individuals [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 0 | 0 | ||||
Ending balance: collectively evaluated for impairment | 472 | 354 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 0 | |||||
Total ending balance | 472 | 447 | 373 | 354 | 329 | 364 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 0 | 0 | ||||
Ending balance: collectively evaluated for impairment | 32,096 | 27,297 | ||||
Loans measured at fair value | 0 | 0 | ||||
Acquired non-credit impaired loans | 142 | 144 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Total Loans and Leases Held for Investment | 32,238 | 28,300 | 27,441 | |||
Lease Financings [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: individually evaluated for impairment | 0 | 0 | ||||
Ending balance: collectively evaluated for impairment | 1,137 | 1,290 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 0 | |||||
Total ending balance | 1,137 | 1,071 | 1,132 | 1,290 | 1,660 | 788 |
Loans and leases held for investment: | ||||||
Ending balance: individually evaluated for impairment | 1,250 | 1,250 | ||||
Ending balance: collectively evaluated for impairment | 134,758 | 122,888 | ||||
Loans measured at fair value | 0 | 0 | ||||
Acquired non-credit impaired loans | 0 | 0 | ||||
Acquired credit impaired loans | 0 | 0 | ||||
Total Loans and Leases Held for Investment | 136,008 | 129,768 | 124,138 | |||
Unallocated Financing Receivables [Member] | ||||||
Reserve for loan and lease losses: | ||||||
Ending balance: collectively evaluated for impairment | 257 | 7 | ||||
Ending balance: acquired credit impaired loans evaluated for impairment | 0 | |||||
Total ending balance | $ 257 | $ 51 | $ 54 | $ 7 | $ 37 | $ 38 |
Loans and Leases - Impaired Loa
Loans and Leases - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | $ 15,313 | $ 27,454 |
Impaired loans with a reserve recorded, Recorded Investment | 13,409 | 1,028 |
Impaired loans with no related reserve, Unpaid Principal Balance | 17,028 | 30,882 |
Impaired loans with a reserve recorded, Unpaid Principal Balance | 13,846 | 1,030 |
Total impaired loans, Recorded Investment | 28,722 | 28,482 |
Total impaired loans, Unpaid Principal Balance | 30,874 | 31,912 |
Impaired Financing Receivable, Related Reserve | 1,048 | 131 |
Lease Financings [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 1,300 | 1,300 |
Impaired Financing Receivable, Related Reserve | 0 | 0 |
Commercial, Financial and Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 3,958 | 7,019 |
Impaired loans with a reserve recorded, Recorded Investment | 931 | 60 |
Impaired loans with no related reserve, Unpaid Principal Balance | 4,535 | 8,301 |
Impaired loans with a reserve recorded, Unpaid Principal Balance | 984 | 60 |
Total impaired loans, Recorded Investment | 4,889 | 7,079 |
Total impaired loans, Unpaid Principal Balance | 5,519 | 8,361 |
Impaired Financing Receivable, Related Reserve | 211 | 31 |
Real Estate-Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 7,110 | 15,621 |
Impaired loans with a reserve recorded, Recorded Investment | 11,754 | 933 |
Impaired loans with no related reserve, Unpaid Principal Balance | 7,976 | 16,507 |
Impaired loans with a reserve recorded, Unpaid Principal Balance | 12,138 | 933 |
Total impaired loans, Recorded Investment | 18,864 | 16,554 |
Total impaired loans, Unpaid Principal Balance | 20,114 | 17,440 |
Impaired Financing Receivable, Related Reserve | 645 | 99 |
Real Estate-Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 106 | 365 |
Impaired loans with no related reserve, Unpaid Principal Balance | 111 | 365 |
Total impaired loans, Recorded Investment | 106 | 365 |
Total impaired loans, Unpaid Principal Balance | 111 | 365 |
Impaired Financing Receivable, Related Reserve | 0 | 0 |
Real Estate-Residential Secured for Business Purpose [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 1,588 | 3,430 |
Impaired loans with a reserve recorded, Recorded Investment | 0 | 35 |
Impaired loans with no related reserve, Unpaid Principal Balance | 1,776 | 4,620 |
Impaired loans with a reserve recorded, Unpaid Principal Balance | 0 | 37 |
Total impaired loans, Recorded Investment | 1,588 | 3,465 |
Total impaired loans, Unpaid Principal Balance | 1,776 | 4,657 |
Impaired Financing Receivable, Related Reserve | 0 | 1 |
Real Estate Residential Secured For Personal Purpose [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 1,091 | 508 |
Impaired loans with a reserve recorded, Recorded Investment | 724 | 0 |
Impaired loans with no related reserve, Unpaid Principal Balance | 1,142 | 566 |
Impaired loans with a reserve recorded, Unpaid Principal Balance | 724 | 0 |
Total impaired loans, Recorded Investment | 1,815 | 508 |
Total impaired loans, Unpaid Principal Balance | 1,866 | 566 |
Impaired Financing Receivable, Related Reserve | 192 | 0 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related reserve, Recorded Investment | 1,460 | 511 |
Impaired loans with no related reserve, Unpaid Principal Balance | 1,488 | 523 |
Total impaired loans, Recorded Investment | 1,460 | 511 |
Total impaired loans, Unpaid Principal Balance | 1,488 | 523 |
Impaired Financing Receivable, Related Reserve | $ 0 | $ 0 |
Loans and Leases - Average Reco
Loans and Leases - Average Recorded Investment in Impaired Loans and Leases and Analysis of Interest on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 30,858 | $ 33,661 | $ 30,760 | $ 37,442 |
Interest Income Recognized | 57 | 270 | 332 | 835 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 400 | 213 | 1,298 | 686 |
Interest income, cash basis for nonaccrual loans | 5 | 0 | 13 | 4 |
Interest income, accrual method | 52 | 270 | 319 | 831 |
Commercial, Financial and Agricultural [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 5,671 | 10,211 | 6,589 | 11,030 |
Interest Income Recognized | 31 | 52 | 103 | 162 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 58 | 92 | 269 | 263 |
Real Estate-Commercial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 19,878 | 18,583 | 19,935 | 21,120 |
Interest Income Recognized | 22 | 201 | 212 | 618 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 261 | 69 | 813 | 223 |
Real Estate-Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 108 | 365 | 128 | 219 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 2 | 5 | 7 | 15 |
Real Estate-Residential Secured for Business Purpose [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,844 | 3,579 | 2,018 | 4,053 |
Interest Income Recognized | 4 | 16 | 14 | 53 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 32 | 34 | 79 | 139 |
Real Estate Residential Secured For Personal Purpose [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,850 | 635 | 1,064 | 629 |
Interest Income Recognized | 0 | 1 | 3 | 2 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | 26 | 8 | 70 | 31 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 1,507 | 288 | 1,026 | 391 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Additional Interest Income That Would Have Been Recognized Under Original Terms | $ 21 | $ 5 | $ 60 | $ 15 |
Loans and Leases - Troubled Deb
Loans and Leases - Troubled Debt Restructured Loans (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | |
Accrual Troubled Debt Restructuring Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 0 | 3 |
Pre- Restructuring Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 9,206 |
Post- Restructuring Outstanding Recorded Investment | 0 | 0 | 0 | 9,206 |
Related Allowance | $ 0 | $ 0 | $ 0 | $ 0 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 0 | 1 | 1 |
Pre- Restructuring Outstanding Recorded Investment | $ 0 | $ 0 | $ 66 | $ 328 |
Post- Restructuring Outstanding Recorded Investment | 0 | 0 | 66 | 328 |
Related Allowance | $ 0 | $ 0 | $ 0 | $ 0 |
Real Estate-Commercial [Member] | Accrual Troubled Debt Restructuring Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 3 | ||
Pre- Restructuring Outstanding Recorded Investment | $ 0 | $ 9,206 | ||
Post- Restructuring Outstanding Recorded Investment | 0 | 9,206 | ||
Related Allowance | $ 0 | $ 0 | ||
Real Estate-Commercial [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 0 | 1 | ||
Pre- Restructuring Outstanding Recorded Investment | $ 0 | $ 328 | ||
Post- Restructuring Outstanding Recorded Investment | 0 | 328 | ||
Related Allowance | $ 0 | $ 0 | ||
Real Estate Residential Secured For Personal Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 1 | 0 | ||
Pre- Restructuring Outstanding Recorded Investment | $ 66 | $ 0 | ||
Post- Restructuring Outstanding Recorded Investment | 66 | 0 | ||
Related Allowance | $ 0 | $ 0 |
Loans and Leases - Concessions
Loans and Leases - Concessions Granted on Accruing and Nonaccrual Loans Restructured (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | |
Accrual Troubled Debt Restructuring Loans [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 0 | 3 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 0 | $ 9,206 |
Accrual Troubled Debt Restructuring Loans [Member] | Extended Maturity [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 0 | 0 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Accrual Troubled Debt Restructuring Loans [Member] | Amortization Period Extension [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 0 | 3 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 0 | $ 9,206 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 1 | 1 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 66 | $ 328 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | Extended Maturity [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 0 | 1 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 0 | $ 328 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | Amortization Period Extension [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 0 | 1 | 0 |
Financing Receivable Modifications Recorded Investments | $ | $ 0 | $ 0 | $ 66 | $ 0 |
Real Estate-Commercial [Member] | Accrual Troubled Debt Restructuring Loans [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 3 | ||
Financing Receivable Modifications Recorded Investments | $ | $ 9,206 | |||
Real Estate-Commercial [Member] | Accrual Troubled Debt Restructuring Loans [Member] | Extended Maturity [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 0 | |||
Real Estate-Commercial [Member] | Accrual Troubled Debt Restructuring Loans [Member] | Amortization Period Extension [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 3 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 9,206 | |||
Real Estate-Commercial [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | 1 | ||
Financing Receivable Modifications Recorded Investments | $ | $ 328 | |||
Real Estate-Commercial [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | Extended Maturity [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 1 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 328 | |||
Real Estate-Commercial [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | Amortization Period Extension [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 0 | |||
Real Estate Residential Secured For Personal Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 1 | 0 | ||
Financing Receivable Modifications Recorded Investments | $ | $ 66 | |||
Real Estate Residential Secured For Personal Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | Extended Maturity [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 0 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 0 | |||
Real Estate Residential Secured For Personal Purpose [Member] | Nonaccrual Troubled Debt Restructuring Loans [Member] | Amortization Period Extension [Member] | ||||
Concessions granted on accruing and non-accrual loans restructured | ||||
No. of Loans | loan | 1 | |||
Financing Receivable Modifications Recorded Investments | $ | $ 66 |
Loans and Leases - Accruing and
Loans and Leases - Accruing and Nonaccruing Troubled Debt Restructured Loans with Payment Defaults (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | |
Accrual Troubled Debt Restructuring Loans [Member] | ||||
Accruing and nonaccrual troubled debt restructured loans with payment default | ||||
Number of Loans | loan | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | ||||
Accruing and nonaccrual troubled debt restructured loans with payment default | ||||
Number of Loans | loan | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 953 | $ 0 |
Nonaccrual Troubled Debt Restructuring Loans [Member] | Commercial, Financial and Agricultural [Member] | ||||
Accruing and nonaccrual troubled debt restructured loans with payment default | ||||
Number of Loans | loan | 0 | 0 | 1 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 953 | $ 0 |
Loans and Leases - Mortgages in
Loans and Leases - Mortgages in Process of Foreclosure (Details) - Residential Real Estate [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Modifications [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 812 | $ 31 |
Real Estate Residential Secured For Personal Purpose [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | 0 | 31 |
Real Estate-Home Equity Secured for Personal Purpose [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 812 | $ 0 |
Loans and Leases - Foreclosed R
Loans and Leases - Foreclosed Residential Real Estate (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Foreclosed residential real estate | $ 57 | $ 80 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Mortgage Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate fair value of servicing rights | $ 11,900 | $ 10,000 |
Range of discount rates used for valuation of mortgage servicing rights | 10.00% | 10.00% |
SBA Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate fair value of servicing rights | $ 32 | $ 21 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | $ 172,559 |
Goodwill, Acquired During Period | 0 |
Goodwill, Ending Balance | 172,559 |
Banking [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 138,476 |
Goodwill, Acquired During Period | 0 |
Goodwill, Ending Balance | 138,476 |
Wealth Management [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 15,434 |
Goodwill, Acquired During Period | 0 |
Goodwill, Ending Balance | 15,434 |
Insurance [Member] | |
Goodwill [Line Items] | |
Goodwill, Beginning Balance | 18,649 |
Goodwill, Acquired During Period | 0 |
Goodwill, Ending Balance | $ 18,649 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 36,828 | $ 35,734 |
Accumulated Amortization and Fair Value Adjustments | 24,423 | 21,825 |
Net Carrying Amount | 12,405 | 13,909 |
Covenants Not To Compete [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 710 | 710 |
Accumulated Amortization and Fair Value Adjustments | 710 | 580 |
Net Carrying Amount | 0 | 130 |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 6,788 | 6,788 |
Accumulated Amortization and Fair Value Adjustments | 2,903 | 2,135 |
Net Carrying Amount | 3,885 | 4,653 |
Customer Related Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 12,381 | 12,381 |
Accumulated Amortization and Fair Value Adjustments | 10,576 | 9,828 |
Net Carrying Amount | 1,805 | 2,553 |
Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 16,949 | 15,855 |
Accumulated Amortization and Fair Value Adjustments | 10,234 | 9,282 |
Net Carrying Amount | $ 6,715 | $ 6,573 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Estimated Amortization Expense for Core Deposit and Customer Related Intangibles (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Remainder of 2018 | $ 468 |
2,019 | 1,565 |
2,020 | 1,200 |
2,021 | 923 |
2,022 | 666 |
Thereafter | $ 868 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Changes in Servicing Rights (Details) - Servicing Rights [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||||
Beginning of period | $ 6,650 | $ 6,548 | $ 6,573 | $ 6,485 |
Servicing rights capitalized | 406 | 376 | 1,093 | 1,106 |
Amortization of servicing rights | (341) | (368) | (951) | (1,035) |
End of period | 6,715 | 6,556 | 6,715 | 6,556 |
Residential mortgage and SBA loans serviced for others | $ 1,024,229 | $ 997,169 | $ 1,024,229 | $ 997,169 |
Goodwill and Other Intangible_8
Goodwill and Other Intangible Assets - Estimated Amortization Expense of Servicing Rights (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Remainder of 2018 | $ 468 |
2,019 | 1,565 |
2,020 | 1,200 |
2,021 | 923 |
2,022 | 666 |
Thereafter | 868 |
Servicing Rights [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Remainder of 2018 | 858 |
2,019 | 770 |
2,020 | 682 |
2,021 | 603 |
2,022 | 533 |
Thereafter | $ 3,269 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Banking and Thrift [Abstract] | ||
Aggregate amount of time deposits in denominations of $100 thousand or more | $ 276.6 | $ 250 |
Aggregate amount of time deposits in denominations over $250 thousand | $ 126.7 | $ 118.4 |
Deposits - Schedule of Componen
Deposits - Schedule of Components of Weighted Average Interest Rate and Balance of Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Weighted Average Rate Domestic Deposit Liabilities [Abstract] | ||
Noninterest-bearing deposits | 0.00% | 0.00% |
Demand deposits | 0.93% | 0.43% |
Savings deposits | 0.28% | 0.26% |
Time Deposits | 1.66% | 1.12% |
Deposits | 0.67% | 0.38% |
Deposits | ||
Noninterest-bearing deposits | $ 1,047,081 | $ 1,040,026 |
Demand deposits | 1,350,720 | 1,109,438 |
Savings deposits | 750,764 | 830,706 |
Time deposits | 671,483 | 574,749 |
Total deposits | $ 3,820,048 | $ 3,554,919 |
Deposits - Schedule of Maturiti
Deposits - Schedule of Maturities of Time Deposits (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Banking and Thrift [Abstract] | ||
Remainder of 2018 | $ 92,465 | |
2,019 | 335,088 | |
2,020 | 114,034 | |
2,021 | 32,865 | |
2,022 | 33,222 | |
Thereafter | 63,809 | |
Time deposits | $ 671,483 | $ 574,749 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $ 1,600,000,000 | |
Outstanding short term letters of credit | 382,900,000 | $ 234,200,000 |
Amount of maintained federal fund lines of credit with correspondent banks | 367,000,000 | 367,000,000 |
Investment securities collateral for Federal Reserve Bank Discount Window Lending program | 66,200,000 | 52,000,000 |
Outstanding amount of federal fund line of credit with Federal Reserve Bank of Philadelphia | 0 | 0 |
Amount of maintained line of credit with correspondent bank - parent company | 10,000,000 | |
Outstanding amount of line of credit with correspondent bank - parent company | 0 | $ 0 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt with fixed interest rate | 5,000,000 | |
Securities Sold under Agreements to Repurchase [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt with variable interest rate | $ 25,400,000 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowings By Type (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 86,765 | $ 105,431 |
Balance at End of Period | 145,430 | 155,828 |
Federal Home Loan Bank Advances [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 115,000 | $ 125,036 |
Weighted Average Interest Rate | 1.82% | 1.73% |
Securities Sold under Agreements to Repurchase [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 30,430 | $ 30,792 |
Weighted Average Interest Rate | 2.14% | 1.52% |
Subordinated Debt [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 94,514 | $ 94,331 |
Weighted Average Interest Rate | 5.34% | 5.35% |
Federal Home Loan Bank Advances [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 16,980 | $ 30,225 |
Weighted Average Interest Rate | 2.38% | 1.54% |
Federal Funds Purchased [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 50,000 | $ 55,000 |
Weighted Average Interest Rate | 2.33% | 1.56% |
Securities Sold under Agreements to Repurchase [Member] | ||
Schedule of Borrowings [Line Items] | ||
Balance at End of Period | $ 19,785 | $ 20,206 |
Weighted Average Interest Rate | 0.05% | 0.05% |
Borrowings - Schedule of Maturi
Borrowings - Schedule of Maturities of Long-term FHLB Advances (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract] | |
Remainder of 2018 | $ 0 |
2,019 | 10,000 |
2,020 | 40,000 |
2,021 | 55,000 |
2,022 | 10,000 |
Thereafter | 0 |
Total Advances | $ 115,000 |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate of Amounts Due [Abstract] | |
Remainder of 2018 Weighted average interest rate | 0.00% |
2019 Weighted average interest rate | 1.35% |
2020 Weighted average interest rate | 1.70% |
2021 Weighted average interest rate | 1.94% |
2022 Weighted average interest rate | 2.09% |
Thereafter Weighted average interest rate | 0.00% |
Weighted average interest rate | 1.82% |
Borrowings - Schedule of Matu_2
Borrowings - Schedule of Maturities of Other Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Balance at End of Period | $ 145,430 | $ 155,828 |
Securities Sold under Agreements to Repurchase [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Remainder of 2018 | 10,032 | |
2,019 | 10,152 | |
2,020 | 10,246 | |
2,021 | 0 | |
2,022 | 0 | |
Thereafter | 0 | |
Balance at End of Period | $ 30,430 | $ 30,792 |
Long-term Debt, Other Disclosures [Abstract] | ||
Remainder of 2018 Weighted average interest rate | 1.52% | |
2019 Weighted average interest rate | 2.45% | |
2020 Weighted average interest rate | 2.44% | |
2021 Weighted average interest rate | 0.00% | |
2022 Weighted average interest rate | 0.00% | |
Thereafter Weighted average interest rate | 0.00% | |
Weighted average interest rate | 2.14% | 1.52% |
Retirement Plans and Other Po_3
Retirement Plans and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Thousands | Jul. 05, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |||
Employee hire date no longer eligible for noncontributory retirement plan | Dec. 8, 2009 | ||
Defined benefit plan, contributions by employer | $ 3,000 | ||
Other Post Retirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected employer contributions for next fiscal year | $ 80 | ||
Defined benefit plan, contributions by employer | $ 79 | ||
Defined benefit plan, benefits paid | 79 | ||
Nonqualified Plan [Member] | Retirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected employer contributions for next fiscal year | $ 158 | ||
Defined benefit plan, contributions by employer | 120 | ||
Defined benefit plan, benefits paid | $ 2,000 |
Retirement Plans and Other Po_4
Retirement Plans and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Retirement Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 140 | $ 124 | $ 420 | $ 399 |
Interest cost | 440 | 487 | 1,320 | 1,439 |
Expected return on plan assets | (849) | (797) | (2,440) | (2,298) |
Amortization of net actuarial loss | 280 | 309 | 841 | 886 |
Accretion of prior service cost | (70) | (71) | (212) | (212) |
Net periodic benefit (income) cost | (59) | 52 | (71) | 214 |
Other Post Retirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 22 | 12 | 66 | 36 |
Interest cost | 23 | 29 | 69 | 88 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of net actuarial loss | 1 | 11 | 3 | 32 |
Accretion of prior service cost | 0 | 0 | 0 | 0 |
Net periodic benefit (income) cost | $ 46 | $ 52 | $ 138 | $ 156 |
Stock-Based Incentive Plan - A
Stock-Based Incentive Plan - Additional Information (Detail) - shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share awards authorized for issuance | 3,698,974 | |||
Fox Chase Bank [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 857,191 | |||
Valley Green Bank [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 473,483 | |||
Common Stock Issuance [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 330,625 |
Stock-Based Incentive Plan - S
Stock-Based Incentive Plan - Status of Options Granted Under Long-Term Incentive Plan (Detail) $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Shares Under Option | |
Shares Under Option, Outstanding, Beginning balance | shares | 512,735 |
Shares Under Option, Granted | shares | 192,278 |
Shares Under Option, Expired | shares | (500) |
Shares Under Option, Forfeited | shares | (20,418) |
Shares Under Option, Exercised | shares | (59,750) |
Share Under Option, Outstanding, Ending balance | shares | 624,345 |
Shares Under Options, Exercisable at September 30, 2018 | shares | 259,031 |
Weighted Average Exercise Price Per Share [Abstract] | |
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares | $ 21.90 |
Weighted Average Exercise Price Per Share, Granted | $ / shares | 28.50 |
Weighted Average Exercise Price Per Share, Expired | $ / shares | 28.15 |
Weighted Average Exercise Price Per Share, Forfeited | $ / shares | 26.14 |
Weighted Average Exercise Price Per Share, Exercised | $ / shares | 18.92 |
Weighted Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares | 24.08 |
Weighted Average Exercise Price Per Share, Exercisable at September 30, 2018 | $ / shares | $ 20.41 |
Weighted Average Remaining Contractual Life, Outstanding at September 30, 2018 | 7 years 6 months |
Weighted Average Remaining Contractual Life, Exercisable at September 30, 2018 | 5 years 10 months 24 days |
Aggregate Intrinsic Value, Outstanding at September 30, 2018 | $ | $ 2,150 |
Aggregate Intrinsic Value, Exercisable at September 30, 2018 | $ | $ 1,662 |
Stock-Based Incentive Plan -_2
Stock-Based Incentive Plan - Summary of Nonvested Stock Options (Details) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | ||
Nonvested Stock Options, Beginning balance | 352,142 | |
Nonvested Stock Options, Granted | 192,278 | |
Nonvested Stock Options, Vested | (158,688) | |
Nonvested Stock Options, Forfeited | (20,418) | |
Nonvested Stock Options, Ending balance | 365,314 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Weighted Average Grant Date Fair Value, Beginning balance | $ 6.47 | |
Weighted Average Grant Date Fair Value, Granted | 6.46 | $ 6.72 |
Weighted Average Grant Date Fair Value, Vested | 6.43 | |
Weighted Average Grant Date Fair Value, Forfeited | 6.49 | |
Weighted Average Grant Date Fair Value, Ending balance | $ 6.48 |
Stock-Based Incentive Plan -_3
Stock-Based Incentive Plan - Aggregated Assumptions Used to Estimate Fair Value of Options Granted (Detail) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Expected option life in years | 6 years 7 months 6 days | 6 years 10 months 24 days |
Risk free interest rate | 2.80% | 2.30% |
Expected dividend yield | 2.81% | 2.84% |
Expected volatility | 27.15% | 29.75% |
Fair value of options | $ 6.46 | $ 6.72 |
Stock-Based Incentive Plan -_4
Stock-Based Incentive Plan - Summary of Nonvested Restricted Stock Awards (Detail) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Nonvested Share Awards, Beginning balance | shares | 229,026 |
Nonvested Share Awards, Granted | shares | 59,953 |
Nonvested Share Awards, Vested | shares | (94,867) |
Nonvested Share Awards, Forfeited | shares | (25,780) |
Nonvested Share awards, Ending balance | shares | 168,332 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares | $ 21.93 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 28.39 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 19.94 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 21.63 |
Weighted Average Grant Date Fair Value, Ending balance | $ / shares | $ 25.41 |
Stock-Based Incentive Plan - C
Stock-Based Incentive Plan - Certain Information Regarding Restricted Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares granted | 59,953 | |
Weighted average grant date fair value | $ 28.39 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares granted | 59,953 | 61,823 |
Weighted average grant date fair value | $ 28.39 | $ 28.08 |
Intrinsic value of awards vested | $ 2,648 | $ 2,914 |
Stock-Based Incentive Plan -_5
Stock-Based Incentive Plan - Schedule of Unrecognized Compensation Cost, Nonvested Awards (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized Compensation Cost | $ 3,699 |
Weighted-Average Period Remaining (Years) | 1 year 10 months 24 days |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized Compensation Cost | $ 1,592 |
Weighted-Average Period Remaining (Years) | 1 year 10 months 24 days |
Restricted Stock Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized Compensation Cost | $ 2,107 |
Weighted-Average Period Remaining (Years) | 1 year 9 months 18 days |
Stock-Based Incentive Plan -_6
Stock-Based Incentive Plan - Compensation Expense Related to Stock Incentive Plans Recognized (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Stock-based compensation expense: | ||
Total Expense | $ 2,430 | $ 2,597 |
Tax benefit on nonqualified stock option expense, restricted stock awards and disqualifying dispositions of incentive stock options | 624 | 1,263 |
Stock Options [Member] | ||
Stock-based compensation expense: | ||
Total Expense | 797 | 678 |
Restricted Stock Awards [Member] | ||
Stock-based compensation expense: | ||
Total Expense | 1,582 | 1,872 |
Employee Stock Purchase Plan [Member] | ||
Stock-based compensation expense: | ||
Total Expense | $ 51 | $ 47 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive (Loss) Income - Components of Accumulated Other Comprehensive (Loss) Income, Net of Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Beginning balance | $ (17,771) | $ (19,454) | ||||
Net Change | $ (657) | $ 839 | (6,539) | 3,111 | ||
Ending balance | (28,664) | (16,343) | (28,664) | (16,343) | ||
Accounting Standards Update 2016-01 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | $ 0 | |||||
Accounting Standards Update 2018-02 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | 0 | |||||
Net Unrealized Holding (Losses) Gains on Available-for-Sale Investment Securities [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Beginning balance | (4,061) | (4,988) | ||||
Net Change | (7,411) | 2,624 | ||||
Ending balance | (12,873) | (2,364) | (12,873) | (2,364) | ||
Net Unrealized Holding (Losses) Gains on Available-for-Sale Investment Securities [Member] | Accounting Standards Update 2016-01 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | (433) | ||||
Net Unrealized Holding (Losses) Gains on Available-for-Sale Investment Securities [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | (968) | ||||
Net Change Related to Derivative Used for Cash Flow Hedge [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Beginning balance | 9 | (141) | ||||
Net Change | 373 | 28 | ||||
Ending balance | 384 | (113) | 384 | (113) | ||
Net Change Related to Derivative Used for Cash Flow Hedge [Member] | Accounting Standards Update 2016-01 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | 0 | ||||
Net Change Related to Derivative Used for Cash Flow Hedge [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | 2 | ||||
Net Change Related to Defined Benefit Pension Plan [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Beginning balance | (13,719) | (14,325) | ||||
Net Change | 499 | 459 | ||||
Ending balance | $ (16,175) | $ (13,866) | (16,175) | (13,866) | ||
Net Change Related to Defined Benefit Pension Plan [Member] | Accounting Standards Update 2016-01 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | 0 | ||||
Net Change Related to Defined Benefit Pension Plan [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1] | (2,955) | ||||
Accumulated Other Comprehensive (Loss) Income [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Net Change | $ (6,539) | $ 3,111 | ||||
Accumulated Other Comprehensive (Loss) Income [Member] | Accounting Standards Update 2016-01 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1],[2] | (433) | ||||
Accumulated Other Comprehensive (Loss) Income [Member] | Accounting Standards Update 2018-02 [Member] | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract] | ||||||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | [1],[2] | $ (3,921) | ||||
[1] | (1) See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. | |||||
[2] | (1) See Note 1, "Summary of Significant Accounting Policies - Accounting Pronouncements Adopted in 2018" for additional information. |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities - Narrative (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018USD ($)instrument | Dec. 31, 2014USD ($) | Dec. 31, 2017USD ($) | |
Derivative [Line Items] | |||
Loans receivable with fixed rates of interest maturity period | 10 years | ||
Loans receivable with fixed rates | $ 29,100,000 | ||
Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional Amount | $ 18,626,000 | $ 19,224,000 | |
Derivative Liabilities | 0 | 12,000 | |
Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional Amount | 132,567,000 | 132,593,000 | |
Derivative Liabilities | $ 44,000 | 74,000 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Loans receivable with fixed rates of interest maturity period | 15 years | ||
Derivative fixed interest rate | 7.43% | ||
Notional Amount | $ 445,000 | 523,000 | |
Loans receivable fixed interest rate (percentage) | 7.43% | ||
Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional Amount | $ 84,709,000 | 75,622,000 | |
Derivative number of instruments held | instrument | 16 | ||
Underlying derivative at fair value | $ 24,000 | ||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative asset notional amount | $ 20,000,000 | ||
Derivative fixed interest rate | 2.10% | ||
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months | 95,000 | ||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional Amount | 17,269,000 | 17,836,000 | |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | |||
Derivative [Line Items] | |||
Derivative Liabilities | $ 485,000 | ||
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Loans receivable with fixed rates of interest maturity period | 10 years | ||
Derivative fixed interest rate | 5.83% | ||
Notional Amount | $ 1,357,000 | $ 1,388,000 | |
Loans receivable fixed interest rate (percentage) | 5.83% | ||
Minimum [Member] | Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative remaining maturity | 1 year | ||
Maximum [Member] | Credit Risk Contract [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative remaining maturity | 10 years | ||
One-Month LIBOR [Member] | Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative basis spread on variable rate | 2.24% | ||
One-Month LIBOR [Member] | Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative basis spread on variable rate | 3.50% |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Derivatives Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net unrealized holding gains (losses) arising during the period | $ 79 | $ (20) | $ 445 | $ (105) | |
Designated as Hedging Instrument [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional Amount | 18,626 | 18,626 | $ 19,224 | ||
Derivative Assets | 505 | 505 | 13 | ||
Derivative Liabilities | 0 | 0 | 12 | ||
Net loss | 0 | (41) | (24) | (143) | |
Net unrealized holding gains (losses) arising during the period | 383 | 9 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional Amount | 17,269 | 17,269 | 17,836 | ||
Net unrealized holding gains (losses) arising during the period | 383 | 9 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Interest Expense [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net loss | 1 | 41 | 27 | 148 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Other Assets [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Assets | 485 | 485 | 13 | ||
Derivative Liabilities | 485 | 485 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liabilities | 0 | 0 | 0 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional Amount | 1,357 | 1,357 | 1,388 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] | Other Noninterest Income [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Net loss | 1 | $ 0 | 3 | $ 5 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] | Other Assets [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Assets | 20 | 20 | 0 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] | Other Liabilities [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liabilities | $ 0 | $ 0 | $ 12 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Detail) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Notional Amount | $ 132,567 | $ 132,567 | $ 132,593 | ||
Derivative Assets | 358 | 358 | 588 | ||
Derivative Liabilities | 44 | 44 | 74 | ||
Derivative instruments not designated as hedging instruments gain (loss), net | (136) | $ (270) | (144) | $ 324 | |
Interest Rate Swap [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Notional Amount | 445 | 445 | 523 | ||
Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Assets | 0 | 0 | 0 | ||
Interest Rate Swap [Member] | Other Liabilities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Liabilities | 20 | 20 | 38 | ||
Credit Risk Contract [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Notional Amount | 84,709 | 84,709 | 75,622 | ||
Credit Risk Contract [Member] | Other Noninterest Income [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative instruments not designated as hedging instruments gain (loss), net | 48 | 25 | 87 | 149 | |
Credit Risk Contract [Member] | Other Assets [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Assets | 0 | 0 | 0 | ||
Credit Risk Contract [Member] | Other Liabilities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Liabilities | 24 | 24 | 36 | ||
Interest Rate Locks with Customers [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Notional Amount | 23,529 | 23,529 | 27,411 | ||
Interest Rate Locks with Customers [Member] | Mortgage Banking Activities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative instruments not designated as hedging instruments gain (loss), net | (328) | (129) | (223) | 433 | |
Interest Rate Locks with Customers [Member] | Other Assets [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Assets | 305 | 305 | 527 | ||
Interest Rate Locks with Customers [Member] | Other Liabilities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Liabilities | 0 | 0 | 0 | ||
Forward Loan Sale Commitments [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Notional Amount | 23,884 | 23,884 | 29,037 | ||
Forward Loan Sale Commitments [Member] | Mortgage Banking Activities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative instruments not designated as hedging instruments gain (loss), net | 144 | $ (166) | (8) | $ (258) | |
Forward Loan Sale Commitments [Member] | Other Assets [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Assets | 53 | 53 | 61 | ||
Forward Loan Sale Commitments [Member] | Other Liabilities [Member] | |||||
Derivative Notional Amount And Fair Value By Balance Sheet Not Designated As Hedging Instrument [Line Items] | |||||
Derivative Liabilities | $ 0 | $ 0 | $ 0 |
Fair Value Disclosures - Narrat
Fair Value Disclosures - Narrative (Details) | 9 Months Ended | ||
Sep. 30, 2018USD ($)loanproperty | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Adjustment of Contingent Consideration | $ 38,000 | $ (260,000) | |
Valuation adjustments for loans held for sale | 0 | 0 | |
Carrying value of impaired loans and leases held for investment | 28,722,000 | $ 28,482,000 | |
Valuation allowance of impaired loans held for investment | 1,048,000 | 131,000 | |
Servicing rights carrying amount before valuation allowance | 6,700,000 | 6,573,000 | |
Servicing rights valuation allowance | 0 | 0 | |
Impaired loans with no related reserve, Recorded Investment | $ 15,313,000 | 27,454,000 | |
Number of properties written-down | property | 2 | ||
OREO write-downs | $ 503,000 | ||
number of properties transferred | property | 4 | ||
Transfer of loans to other real estate owned | $ 477,000 | 649,000 | |
Other Real Estate, Number of Properties Sold | property | 3 | ||
Proceeds from sales of other real estate owned | $ 362,000 | 3,996,000 | |
Other real estate owned | 1,433,000 | 1,843,000 | |
Sterner Insurance Associates Inc [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Adjustment of Contingent Consideration | (301,000) | ||
Girard Partners [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Adjustment of Contingent Consideration | 38,000 | $ 41,000 | |
Held for Investment [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Carrying value of impaired loans and leases held for investment | 28,700,000 | ||
Valuation allowance of impaired loans held for investment | 1,048,000 | 131,000 | |
Lease Financings [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Valuation allowance of impaired loans held for investment | 0 | 0 | |
Impaired loans with no related reserve, Recorded Investment | $ 1,300,000 | $ 1,300,000 | |
Interest Rate Swap [Member] | Derivative Financial Instruments, Liabilities [Member] | Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Number of loans with unrealized gain | loan | 2 | ||
Unrealized gain on loans | $ 6,000 |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Assets: | |||
Total available-for-sale securities | $ 336,933 | $ 398,518 | |
Investments in equity securities | 2,264 | ||
Investments in equity securities | 7,061 | ||
Total assets | 1,801 | $ 2,014 | |
Fair Value Measured on Recurring Basis [Member] | |||
Assets: | |||
Total available-for-sale securities | 336,933 | 391,457 | |
Investments in equity securities | 2,264 | ||
Investments in equity securities | 7,061 | ||
Loans | 1,801 | 1,958 | |
Total assets | 341,861 | 401,077 | |
Liabilities: | |||
Total liabilities | 354 | 425 | |
Fair Value Measured on Recurring Basis [Member] | Contingent Consideration Liability [Member] | |||
Liabilities: | |||
Derivative liabilities | 310 | 339 | |
Fair Value Measured on Recurring Basis [Member] | Interest Rate Swap [Member] | |||
Liabilities: | |||
Derivative liabilities | 20 | 50 | |
Fair Value Measured on Recurring Basis [Member] | Credit Risk Contract [Member] | |||
Liabilities: | |||
Derivative liabilities | 24 | 36 | |
Fair Value Measured on Recurring Basis [Member] | U.S. Government Corporations and Agencies [Member] | |||
Assets: | |||
Total available-for-sale securities | 15,316 | 16,961 | |
Fair Value Measured on Recurring Basis [Member] | State and Political Subdivisions [Member] | |||
Assets: | |||
Total available-for-sale securities | 67,892 | 78,297 | |
Fair Value Measured on Recurring Basis [Member] | Residential Mortgage-Backed Securities [Member] | |||
Assets: | |||
Total available-for-sale securities | 156,414 | 185,421 | |
Fair Value Measured on Recurring Basis [Member] | Collateralized Mortgage Obligations [Member] | |||
Assets: | |||
Total available-for-sale securities | 2,981 | 3,602 | |
Fair Value Measured on Recurring Basis [Member] | Corporate Bonds [Member] | |||
Assets: | |||
Total available-for-sale securities | 94,330 | 107,176 | |
Fair Value Measured on Recurring Basis [Member] | Money Market Mutual Funds [Member] | |||
Assets: | |||
Investments in equity securities | 1,161 | ||
Investments in equity securities | 5,985 | ||
Fair Value Measured on Recurring Basis [Member] | Equity Securities [Member] | |||
Assets: | |||
Investments in equity securities | 1,103 | ||
Investments in equity securities | 1,076 | ||
Fair Value Measured on Recurring Basis [Member] | Interest Rate Swap [Member] | |||
Assets: | |||
Derivative assets | 505 | ||
Liabilities: | |||
Derivative liabilities | 13 | ||
Fair Value Measured on Recurring Basis [Member] | Interest Rate Locks with Customers [Member] | |||
Assets: | |||
Derivative assets | 305 | 527 | |
Fair Value Measured on Recurring Basis [Member] | Forward Loan Sale Commitments [Member] | |||
Assets: | |||
Derivative assets | 53 | 61 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Investments in equity securities | 2,264 | ||
Investments in equity securities | 7,061 | ||
Loans | 0 | 0 | |
Total assets | 2,264 | 7,061 | |
Liabilities: | |||
Total liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Contingent Consideration Liability [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Interest Rate Swap [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Credit Risk Contract [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | U.S. Government Corporations and Agencies [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | State and Political Subdivisions [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Residential Mortgage-Backed Securities [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Collateralized Mortgage Obligations [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Corporate Bonds [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Money Market Mutual Funds [Member] | |||
Assets: | |||
Investments in equity securities | 1,161 | ||
Investments in equity securities | 5,985 | ||
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Equity Securities [Member] | |||
Assets: | |||
Investments in equity securities | 1,103 | ||
Investments in equity securities | 1,076 | ||
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Interest Rate Swap [Member] | |||
Assets: | |||
Derivative assets | 0 | ||
Liabilities: | |||
Derivative liabilities | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Interest Rate Locks with Customers [Member] | |||
Assets: | |||
Derivative assets | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | Forward Loan Sale Commitments [Member] | |||
Assets: | |||
Derivative assets | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | |||
Assets: | |||
Total available-for-sale securities | 310,526 | 363,471 | |
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Loans | 0 | 0 | |
Total assets | 311,389 | 364,072 | |
Liabilities: | |||
Total liabilities | 20 | 50 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Contingent Consideration Liability [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Interest Rate Swap [Member] | |||
Liabilities: | |||
Derivative liabilities | 20 | 50 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Credit Risk Contract [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | U.S. Government Corporations and Agencies [Member] | |||
Assets: | |||
Total available-for-sale securities | 15,316 | 16,961 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | |||
Assets: | |||
Total available-for-sale securities | 67,892 | 78,297 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities [Member] | |||
Assets: | |||
Total available-for-sale securities | 156,414 | 185,421 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Collateralized Mortgage Obligations [Member] | |||
Assets: | |||
Total available-for-sale securities | 2,981 | 3,602 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Corporate Bonds [Member] | |||
Assets: | |||
Total available-for-sale securities | 67,923 | 79,190 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Money Market Mutual Funds [Member] | |||
Assets: | |||
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Equity Securities [Member] | |||
Assets: | |||
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Interest Rate Swap [Member] | |||
Assets: | |||
Derivative assets | 505 | ||
Liabilities: | |||
Derivative liabilities | 13 | ||
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Interest Rate Locks with Customers [Member] | |||
Assets: | |||
Derivative assets | 305 | 527 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | Forward Loan Sale Commitments [Member] | |||
Assets: | |||
Derivative assets | 53 | 61 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | |||
Assets: | |||
Total available-for-sale securities | 26,407 | 27,986 | |
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Loans | 1,801 | 1,958 | |
Total assets | 28,208 | 29,944 | |
Liabilities: | |||
Total liabilities | 334 | 375 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Contingent Consideration Liability [Member] | |||
Liabilities: | |||
Derivative liabilities | 310 | 339 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Interest Rate Swap [Member] | |||
Liabilities: | |||
Derivative liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Credit Risk Contract [Member] | |||
Liabilities: | |||
Derivative liabilities | 24 | 36 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | U.S. Government Corporations and Agencies [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | State and Political Subdivisions [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Residential Mortgage-Backed Securities [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Collateralized Mortgage Obligations [Member] | |||
Assets: | |||
Total available-for-sale securities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Corporate Bonds [Member] | |||
Assets: | |||
Total available-for-sale securities | 26,407 | 27,986 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Money Market Mutual Funds [Member] | |||
Assets: | |||
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Equity Securities [Member] | |||
Assets: | |||
Investments in equity securities | 0 | ||
Investments in equity securities | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Interest Rate Swap [Member] | |||
Assets: | |||
Derivative assets | 0 | ||
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Interest Rate Locks with Customers [Member] | |||
Assets: | |||
Derivative assets | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | Forward Loan Sale Commitments [Member] | |||
Assets: | |||
Derivative assets | $ 0 | $ 0 |
Fair Value Disclosures - Level
Fair Value Disclosures - Level 3 Roll Forward (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Net Asset (Liability) Value [Roll Forward] | ||
Beginning balance | $ 29,908 | $ 30,907 |
Purchases/additions | (75) | (272) |
Sales | 0 | 0 |
Payments received | (110) | (102) |
Premium amortization, net | 0 | 0 |
(Decrease) increase in value | (1,539) | (106) |
Ending balance | 28,184 | 30,427 |
Derivative Financial Instruments, Liabilities [Member] | Credit Risk Contract [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | (36) | (9) |
Purchases/additions | (75) | (272) |
Sales | 0 | 0 |
Payments received | 0 | 0 |
Premium amortization, net | 0 | 0 |
(Decrease) increase in value | 87 | 149 |
Ending balance | (24) | (132) |
Corporate Debt Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 27,986 | 28,778 |
Purchases/additions | 0 | 0 |
Sales | 0 | 0 |
Payments received | 0 | 0 |
Premium amortization, net | 0 | 0 |
(Decrease) increase in value | (1,579) | (233) |
Ending balance | 26,407 | 28,545 |
Loans [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | 1,958 | 2,138 |
Purchases/additions | 0 | 0 |
Sales | 0 | 0 |
Payments received | (110) | (102) |
Premium amortization, net | 0 | 0 |
(Decrease) increase in value | (47) | (22) |
Ending balance | $ 1,801 | $ 2,014 |
Fair Value Disclosures - Change
Fair Value Disclosures - Change in Contingent Consideration Liability (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Change in Contingent Consideration Liability [Roll Forward] | ||
Beginning Balance | $ 339 | $ 5,999 |
Contingent Consideration from New Acquisition | 0 | 0 |
Payment of Contingent Consideration | 67 | 5,380 |
Adjustment of Contingent Consideration | 38 | (260) |
Ending Balance | 310 | 359 |
Sterner Insurance Associates Inc [Member] | ||
Change in Contingent Consideration Liability [Roll Forward] | ||
Beginning Balance | 331 | |
Contingent Consideration from New Acquisition | 0 | |
Payment of Contingent Consideration | 30 | |
Adjustment of Contingent Consideration | (301) | |
Ending Balance | 0 | |
Girard Partners [Member] | ||
Change in Contingent Consideration Liability [Roll Forward] | ||
Beginning Balance | 339 | 5,668 |
Contingent Consideration from New Acquisition | 0 | 0 |
Payment of Contingent Consideration | 67 | 5,350 |
Adjustment of Contingent Consideration | 38 | 41 |
Ending Balance | $ 310 | $ 359 |
Fair Value Disclosures - Asse_2
Fair Value Disclosures - Assets Measured at Fair Value on Non-recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | $ 1,433 | $ 1,843 | |
Total assets | 1,801 | $ 2,014 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans held for investment | 27,674 | 28,351 | |
Impaired leases held for investment | 1,250 | 1,250 | |
Other real estate owned | 1,433 | 1,843 | |
Total assets | 30,357 | 31,444 | |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | |||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans held for investment | 0 | 0 | |
Impaired leases held for investment | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Total assets | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | |||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans held for investment | 0 | 0 | |
Impaired leases held for investment | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Total assets | 0 | 0 | |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | |||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans held for investment | 27,674 | 28,351 | |
Impaired leases held for investment | 1,250 | 1,250 | |
Other real estate owned | 1,433 | 1,843 | |
Total assets | $ 30,357 | $ 31,444 |
Fair Value Disclosures - Asse_3
Fair Value Disclosures - Assets, Liabilities and Off-balance Sheet Items Not Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Assets: | |||
Held-to-maturity securities | $ 105,642 | $ 55,320 | |
Other real estate owned | 1,433 | 1,843 | |
Total assets | 1,801 | $ 2,014 | |
Deposits: | |||
Time deposits | 671,483 | 574,749 | |
Subordinated notes | 94,514 | 94,331 | |
Fair Value [Member] | |||
Assets: | |||
Cash and short-term interest-earning assets | 84,110 | 75,409 | |
Held-to-maturity securities | 105,642 | 55,320 | |
Loans held for sale | 114 | 1,676 | |
Net loans and leases held for investment | 3,794,987 | 3,547,451 | |
Servicing rights | 11,935 | 10,046 | |
Total assets | 3,996,788 | 3,689,902 | |
Deposits: | |||
Demand and savings deposits, non-maturity | 3,148,565 | 2,980,170 | |
Time deposits | 661,806 | 574,737 | |
Total deposits | 3,810,371 | 3,554,907 | |
Short-term borrowings | 86,765 | 105,431 | |
Long-term debt | 142,862 | 156,834 | |
Subordinated notes | 96,063 | 98,075 | |
Total liabilities | 4,136,061 | 3,915,247 | |
Off-Balance-Sheet: | |||
Commitments to extend credit | (2,508) | (2,414) | |
Fair Value [Member] | Level 1 [Member] | |||
Assets: | |||
Cash and short-term interest-earning assets | 84,110 | 75,409 | |
Held-to-maturity securities | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Net loans and leases held for investment | 0 | 0 | |
Servicing rights | 0 | 0 | |
Total assets | 84,110 | 75,409 | |
Deposits: | |||
Demand and savings deposits, non-maturity | 3,148,565 | 2,980,170 | |
Time deposits | 0 | 0 | |
Total deposits | 3,148,565 | 2,980,170 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Subordinated notes | 0 | 0 | |
Total liabilities | 3,148,565 | 2,980,170 | |
Off-Balance-Sheet: | |||
Commitments to extend credit | 0 | 0 | |
Fair Value [Member] | Level 2 [Member] | |||
Assets: | |||
Cash and short-term interest-earning assets | 0 | 0 | |
Held-to-maturity securities | 105,642 | 55,320 | |
Loans held for sale | 114 | 1,676 | |
Net loans and leases held for investment | 0 | 0 | |
Servicing rights | 0 | 0 | |
Total assets | 105,756 | 56,996 | |
Deposits: | |||
Demand and savings deposits, non-maturity | 0 | 0 | |
Time deposits | 661,806 | 574,737 | |
Total deposits | 661,806 | 574,737 | |
Short-term borrowings | 86,765 | 105,431 | |
Long-term debt | 142,862 | 156,834 | |
Subordinated notes | 96,063 | 98,075 | |
Total liabilities | 987,496 | 935,077 | |
Off-Balance-Sheet: | |||
Commitments to extend credit | (2,508) | (2,414) | |
Fair Value [Member] | Level 3 [Member] | |||
Assets: | |||
Cash and short-term interest-earning assets | 0 | 0 | |
Held-to-maturity securities | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Net loans and leases held for investment | 3,794,987 | 3,547,451 | |
Servicing rights | 11,935 | 10,046 | |
Total assets | 3,806,922 | 3,557,497 | |
Deposits: | |||
Demand and savings deposits, non-maturity | 0 | 0 | |
Time deposits | 0 | 0 | |
Total deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Subordinated notes | 0 | 0 | |
Total liabilities | 0 | 0 | |
Off-Balance-Sheet: | |||
Commitments to extend credit | 0 | 0 | |
Carrying Amount [Member] | |||
Assets: | |||
Cash and short-term interest-earning assets | 84,110 | 75,409 | |
Held-to-maturity securities | 108,142 | 55,564 | |
Federal Home Loan Bank, Federal Reserve Bank and other stock | 33,071 | 27,204 | |
Loans held for sale | 106 | 1,642 | |
Net loans and leases held for investment | 3,808,073 | 3,566,953 | |
Servicing rights | 6,715 | 6,573 | |
Total assets | 4,040,217 | 3,733,345 | |
Deposits: | |||
Demand and savings deposits, non-maturity | 3,148,565 | 2,980,170 | |
Time deposits | 671,483 | 574,749 | |
Total deposits | 3,820,048 | 3,554,919 | |
Short-term borrowings | 86,765 | 105,431 | |
Long-term debt | 145,430 | 155,828 | |
Subordinated notes | 94,514 | 94,331 | |
Total liabilities | 4,146,757 | 3,910,509 | |
Off-Balance-Sheet: | |||
Commitments to extend credit | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | |||
Assets: | |||
Net loans and leases held for investment | 1,801 | 1,958 | |
Total assets | 341,861 | 401,077 | |
Deposits: | |||
Total liabilities | 354 | 425 | |
Fair Value Measured on Recurring Basis [Member] | Level 1 [Member] | |||
Assets: | |||
Net loans and leases held for investment | 0 | 0 | |
Total assets | 2,264 | 7,061 | |
Deposits: | |||
Total liabilities | 0 | 0 | |
Fair Value Measured on Recurring Basis [Member] | Level 2 [Member] | |||
Assets: | |||
Net loans and leases held for investment | 0 | 0 | |
Total assets | 311,389 | 364,072 | |
Deposits: | |||
Total liabilities | 20 | 50 | |
Fair Value Measured on Recurring Basis [Member] | Level 3 [Member] | |||
Assets: | |||
Net loans and leases held for investment | 1,801 | 1,958 | |
Total assets | 28,208 | 29,944 | |
Deposits: | |||
Total liabilities | $ 334 | $ 375 |
Segment Reporting (Details)
Segment Reporting (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)segment | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | ||
Segment Reporting [Abstract] | ||||||
Reportable business segments | segment | 3 | |||||
Segment Reporting Information [Line Items] | ||||||
Total assets | $ 4,801,998 | $ 4,417,363 | $ 4,801,998 | $ 4,417,363 | $ 4,554,862 | |
Interest income | 49,255 | 42,172 | 139,249 | 120,598 | ||
Interest expense | 8,832 | 5,285 | 22,564 | 14,128 | ||
Net interest income | [1] | 40,423 | 36,887 | 116,685 | 106,470 | |
Provision for loan and lease losses | 2,745 | 2,689 | 20,207 | 7,900 | ||
Noninterest income | 14,861 | 14,109 | 45,757 | 45,088 | ||
Intangible expenses | 479 | 690 | 1,685 | 1,895 | ||
Restructuring charges | 571 | |||||
Other noninterest expense | 33,892 | 32,005 | 101,587 | 95,378 | ||
Intersegment (revenue) expense | 0 | 0 | 0 | 0 | ||
Income before income taxes | 18,168 | 15,612 | 38,392 | 46,385 | ||
Income tax expense | 3,204 | 4,416 | 6,221 | 12,555 | ||
Net income | 14,964 | 11,196 | 32,171 | 33,830 | ||
Capital expenditures | 745 | 768 | 2,698 | 7,412 | ||
Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Total assets | 4,711,093 | 4,327,920 | 4,711,093 | 4,327,920 | 4,466,301 | |
Interest income | 49,238 | 42,161 | 139,204 | 120,575 | ||
Interest expense | 7,571 | 4,031 | 18,781 | 10,352 | ||
Net interest income | [1] | 41,667 | 38,130 | 120,423 | 110,223 | |
Provision for loan and lease losses | 2,745 | 2,689 | 20,207 | 7,900 | ||
Noninterest income | 5,070 | 4,993 | 15,320 | 16,945 | ||
Intangible expenses | 240 | 357 | 898 | 1,151 | ||
Restructuring charges | 571 | |||||
Other noninterest expense | 26,542 | 25,733 | 80,790 | 74,949 | ||
Intersegment (revenue) expense | (512) | (264) | (1,098) | (792) | ||
Income before income taxes | 17,722 | 14,608 | 34,375 | 43,960 | ||
Income tax expense | 3,171 | 4,033 | 5,006 | 11,754 | ||
Net income | 14,551 | 10,575 | 29,369 | 32,206 | ||
Capital expenditures | 570 | 582 | 2,360 | 6,921 | ||
Wealth Management [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Total assets | 38,042 | 34,903 | 38,042 | 34,903 | 34,600 | |
Interest income | 9 | 4 | 22 | 6 | ||
Interest expense | 0 | 0 | 0 | 0 | ||
Net interest income | [1] | 9 | 4 | 22 | 6 | |
Provision for loan and lease losses | 0 | 0 | 0 | 0 | ||
Noninterest income | 5,795 | 5,428 | 17,397 | 15,965 | ||
Intangible expenses | 136 | 168 | 415 | 506 | ||
Restructuring charges | 0 | |||||
Other noninterest expense | 3,547 | 3,472 | 10,969 | 10,404 | ||
Intersegment (revenue) expense | 377 | 146 | 686 | 438 | ||
Income before income taxes | 1,744 | 1,646 | 5,349 | 4,623 | ||
Income tax expense | 493 | 648 | 1,636 | 1,812 | ||
Net income | 1,251 | 998 | 3,713 | 2,811 | ||
Capital expenditures | 73 | 5 | 162 | 27 | ||
Insurance [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Total assets | 29,299 | 25,139 | 29,299 | 25,139 | 27,846 | |
Interest income | 0 | 0 | 0 | 0 | ||
Interest expense | 0 | 0 | 0 | 0 | ||
Net interest income | [1] | 0 | 0 | 0 | 0 | |
Provision for loan and lease losses | 0 | 0 | 0 | 0 | ||
Noninterest income | 3,845 | 3,620 | 12,835 | 11,913 | ||
Intangible expenses | 103 | 165 | 372 | 238 | ||
Restructuring charges | 0 | |||||
Other noninterest expense | 3,087 | 2,803 | 9,425 | 8,718 | ||
Intersegment (revenue) expense | 135 | 118 | 412 | 354 | ||
Income before income taxes | 520 | 534 | 2,626 | 2,603 | ||
Income tax expense | 156 | 224 | 775 | 1,095 | ||
Net income | 364 | 310 | 1,851 | 1,508 | ||
Capital expenditures | 16 | 3 | 25 | 202 | ||
Other Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Total assets | 23,564 | 29,401 | 23,564 | 29,401 | $ 26,115 | |
Interest income | 8 | 7 | 23 | 17 | ||
Interest expense | 1,261 | 1,254 | 3,783 | 3,776 | ||
Net interest income | [1] | (1,253) | (1,247) | (3,760) | (3,759) | |
Provision for loan and lease losses | 0 | 0 | 0 | 0 | ||
Noninterest income | 151 | 68 | 205 | 265 | ||
Intangible expenses | 0 | 0 | 0 | 0 | ||
Restructuring charges | 0 | |||||
Other noninterest expense | 716 | (3) | 403 | 1,307 | ||
Intersegment (revenue) expense | 0 | 0 | 0 | 0 | ||
Income before income taxes | (1,818) | (1,176) | (3,958) | (4,801) | ||
Income tax expense | (616) | (489) | (1,196) | (2,106) | ||
Net income | (1,202) | (687) | (2,762) | (2,695) | ||
Capital expenditures | $ 86 | $ 178 | $ 151 | $ 262 | ||
[1] | (1)Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. |
Revenue From Contracts with C_3
Revenue From Contracts with Customers Revenue From Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Interest Income (Expense), Net | [1] | $ 40,423 | $ 36,887 | $ 116,685 | $ 106,470 | |||
Insurance commission and fee income | 3,643 | 3,492 | 12,243 | 11,530 | ||||
Bank owned life insurance income | [1] | 865 | 742 | 2,744 | 3,147 | |||
Net gain on sales of investment securities | 0 | 7 | [1] | 10 | [1] | 43 | [1] | |
Net gain on mortgage banking activities | [1] | 754 | 908 | 2,412 | 3,558 | |||
Other income | [2] | 116 | 87 | 102 | 712 | |||
Total noninterest income | 14,861 | 14,109 | 45,757 | 45,088 | ||||
Trust fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 1,960 | 1,924 | 6,000 | 5,847 | ||||
Service charges on deposit accounts | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 1,454 | 1,371 | 4,116 | 3,927 | ||||
Investment advisory commission and fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 3,785 | 3,455 | 11,246 | 9,969 | ||||
Other service fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | [2] | 2,284 | 2,123 | 6,884 | 6,355 | |||
Banking [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Interest Income (Expense), Net | [1] | 41,667 | 38,130 | 120,423 | 110,223 | |||
Insurance commission and fee income | 0 | 0 | 0 | 0 | ||||
Bank owned life insurance income | [1] | 708 | 675 | 2,567 | 2,886 | |||
Net gain on sales of investment securities | [1] | 6 | 10 | 39 | ||||
Net gain on mortgage banking activities | [1] | 754 | 908 | 2,412 | 3,558 | |||
Other income | [2] | 122 | 86 | 76 | 710 | |||
Total noninterest income | 5,070 | 4,993 | 15,320 | 16,945 | ||||
Banking [Member] | Trust fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Banking [Member] | Service charges on deposit accounts | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 1,454 | 1,371 | 4,116 | 3,927 | ||||
Banking [Member] | Investment advisory commission and fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Banking [Member] | Other service fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | [2] | 2,032 | 1,947 | 6,139 | 5,825 | |||
Wealth Management [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Interest Income (Expense), Net | [1] | 9 | 4 | 22 | 6 | |||
Insurance commission and fee income | 0 | 0 | 0 | 0 | ||||
Bank owned life insurance income | [1] | 0 | 0 | 0 | 0 | |||
Net gain on sales of investment securities | [1] | 0 | 0 | 0 | ||||
Net gain on mortgage banking activities | [1] | 0 | 0 | 0 | 0 | |||
Other income | [2] | 0 | 0 | 0 | 0 | |||
Total noninterest income | 5,795 | 5,428 | 17,397 | 15,965 | ||||
Wealth Management [Member] | Trust fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 1,960 | 1,924 | 6,000 | 5,847 | ||||
Wealth Management [Member] | Service charges on deposit accounts | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Wealth Management [Member] | Investment advisory commission and fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 3,785 | 3,455 | 11,246 | 9,969 | ||||
Wealth Management [Member] | Other service fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | [2] | 50 | 49 | 151 | 149 | |||
Insurance [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Interest Income (Expense), Net | [1] | 0 | 0 | 0 | 0 | |||
Insurance commission and fee income | 3,643 | 3,492 | 12,243 | 11,530 | ||||
Bank owned life insurance income | [1] | 0 | 0 | 0 | 0 | |||
Net gain on sales of investment securities | [1] | 0 | 0 | 0 | ||||
Net gain on mortgage banking activities | [1] | 0 | 0 | 0 | 0 | |||
Other income | [2] | 0 | 1 | (2) | 2 | |||
Total noninterest income | 3,845 | 3,620 | 12,835 | 11,913 | ||||
Insurance [Member] | Trust fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Insurance [Member] | Service charges on deposit accounts | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Insurance [Member] | Investment advisory commission and fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Insurance [Member] | Other service fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | [2] | 202 | 127 | 594 | 381 | |||
Other Segments [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Interest Income (Expense), Net | [1] | (1,253) | (1,247) | (3,760) | (3,759) | |||
Insurance commission and fee income | 0 | 0 | 0 | 0 | ||||
Bank owned life insurance income | [1] | 157 | 67 | 177 | 261 | |||
Net gain on sales of investment securities | [1] | 1 | 0 | 4 | ||||
Net gain on mortgage banking activities | [1] | 0 | 0 | 0 | 0 | |||
Other income | [2] | (6) | 0 | 28 | 0 | |||
Total noninterest income | 151 | 68 | 205 | 265 | ||||
Other Segments [Member] | Trust fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Other Segments [Member] | Service charges on deposit accounts | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Other Segments [Member] | Investment advisory commission and fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | 0 | 0 | 0 | 0 | ||||
Other Segments [Member] | Other service fee income | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Noninterest income | [2] | $ 0 | $ 0 | $ 0 | $ 0 | |||
[1] | (1)Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of the standard. Noninterest income streams that are out-of-scope of the standard include bank owned life insurance income, sales of investment securities and mortgage banking activities. | |||||||
[2] | (2)Other service fee income and other income include certain items that are in scope and certain items that are out of scope of the standard and are described further in the following paragraphs. |
Restructuring Charges - Narrati
Restructuring Charges - Narrative (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018USD ($) | Mar. 31, 2018USD ($)center | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | $ 0 | $ 0 | $ 571 | $ 0 | ||
Restructuring Reserve | $ 232 | $ 232 | $ 23 | |||
Facility closing [Member] | Owned Financial Center [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Number of financial centers closed | center | 2 | |||||
Facility closing [Member] | Leased Financial Center [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Number of financial centers closed | center | 1 | |||||
Banking [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | $ 571 |
Restructuring Charges - Roll-Fo
Restructuring Charges - Roll-Forward of Accrued Restructuring Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Restructuring Reserve [Roll Forward] | ||||
Accrued at January 1, 2018 | $ 23 | |||
Restructuring charges | $ 0 | $ 0 | 571 | $ 0 |
Payments | (314) | |||
Accrued at September 30, 2018 | 232 | 232 | ||
Non-cash settlement | (48) | |||
Severance expenses [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Accrued at January 1, 2018 | 0 | |||
Restructuring charges | 366 | |||
Payments | (284) | |||
Accrued at September 30, 2018 | 82 | 82 | ||
Non-cash settlement | 0 | |||
Write-downs and retirements of fixed assets [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Accrued at January 1, 2018 | 0 | |||
Restructuring charges | 48 | |||
Payments | 0 | |||
Accrued at September 30, 2018 | 0 | 0 | ||
Non-cash settlement | (48) | |||
Lease cancellations [Member] | ||||
Restructuring Reserve [Roll Forward] | ||||
Accrued at January 1, 2018 | 23 | |||
Restructuring charges | 157 | |||
Payments | (30) | |||
Accrued at September 30, 2018 | $ 150 | 150 | ||
Non-cash settlement | $ 0 |