Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
Trading Symbol | 'OZRK |
Entity Registrant Name | 'BANK OF THE OZARKS INC |
Entity Central Index Key | '0001038205 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 79,704,950 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Cash and due from banks | $109,877 | $195,094 | $123,291 |
Interest earning deposits | 2,207 | 881 | 1,167 |
Cash and cash equivalents | 112,084 | 195,975 | 124,458 |
Investment securities - available for sale ("AFS") | 859,876 | 669,384 | 671,393 |
Non-purchased loans and leases | 3,639,142 | 2,632,565 | 2,522,589 |
Purchased loans not covered by Federal Deposit Insurance Corporation ("FDIC") loss share agreements ("purchased non-covered loans") | 1,030,988 | 372,723 | 399,058 |
Loans covered by FDIC loss share agreements ("covered loans") | 248,802 | 351,791 | 409,319 |
Allowance for loan and lease losses | -49,606 | -42,945 | -41,660 |
Net loans and leases | 4,869,326 | 3,314,134 | 3,289,306 |
FDIC loss share receivable | 36,583 | 71,854 | 89,642 |
Premises and equipment, net | 267,888 | 245,472 | 245,055 |
Foreclosed assets not covered by FDIC loss share agreements | 14,781 | 11,851 | 11,647 |
Foreclosed assets covered by FDIC loss share agreements | 27,882 | 37,960 | 40,452 |
Accrued interest receivable | 20,966 | 14,359 | 15,227 |
Bank owned life insurance ("BOLI") | 180,667 | 143,473 | 142,311 |
Intangible assets, net | 107,108 | 19,158 | 20,039 |
Other, net | 83,199 | 67,550 | 61,037 |
Total assets | 6,580,360 | 4,791,170 | 4,710,567 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' |
Demand non-interest bearing | 1,089,415 | 746,320 | 724,413 |
Savings and interest bearing transaction | 2,787,958 | 2,073,497 | 1,952,617 |
Time | 1,262,332 | 897,210 | 977,656 |
Total deposits | 5,139,705 | 3,717,027 | 3,654,686 |
Repurchase agreements with customers | 73,942 | 53,103 | 50,254 |
Other borrowings | 352,616 | 280,895 | 280,905 |
Subordinated debentures | 64,950 | 64,950 | 64,950 |
FDIC clawback payable | 26,676 | 25,897 | 25,705 |
Accrued interest payable and other liabilities | 43,452 | 16,768 | 18,251 |
Total liabilities | 5,701,341 | 4,158,640 | 4,094,751 |
Commitments and contingencies | ' | ' | ' |
Stockholders' equity: | ' | ' | ' |
Preferred stock; $0.01 par value; 1,000,000 shares authorized; no shares outstanding at September 30, 2014 and 2013 or at December 31, 2013 | 0 | 0 | 0 |
Common stock; $0.01 par value; 125,000,000 shares authorized; 79,704,950, 73,403,418 and 73,711,704 shares issued and outstanding at September 30, 2014, September 30, 2013 and December 31, 2013, respectively | 797 | 737 | 735 |
Additional paid-in capital | 317,390 | 143,017 | 139,768 |
Retained earnings | 546,667 | 488,978 | 472,288 |
Accumulated other comprehensive income (loss) | 10,724 | -3,672 | -453 |
Total stockholders' equity before noncontrolling interest | 875,578 | 629,060 | 612,338 |
Noncontrolling interest | 3,441 | 3,470 | 3,478 |
Total stockholders' equity | 879,019 | 632,530 | 615,816 |
Total liabilities and stockholders' equity | $6,580,360 | $4,791,170 | $4,710,567 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Preferred stock, par value | $0.01 | $0.01 | $0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 125,000,000 | 125,000,000 | 125,000,000 |
Common stock, shares issued | 79,704,950 | 73,711,704 | 73,403,418 |
Common stock, shares outstanding | 79,704,950 | 73,711,704 | 73,403,418 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Non-purchased loans and leases | $43,153 | $33,183 | $113,400 | $93,782 |
Purchased non-covered loans | 18,056 | 5,653 | 39,534 | 7,366 |
Covered loans | 10,630 | 10,501 | 31,166 | 34,845 |
Investment securities: | ' | ' | ' | ' |
Taxable | 2,986 | 1,988 | 8,135 | 4,456 |
Tax-exempt | 5,247 | 4,006 | 14,617 | 11,599 |
Deposits with banks and federal funds sold | 11 | 11 | 50 | 21 |
Total interest income | 80,083 | 55,342 | 206,902 | 152,069 |
Interest expense: | ' | ' | ' | ' |
Deposits | 2,285 | 1,537 | 5,693 | 4,457 |
Repurchase agreements with customers | 15 | 7 | 40 | 21 |
Other borrowings | 2,736 | 2,732 | 8,083 | 8,064 |
Subordinated debentures | 426 | 433 | 1,267 | 1,290 |
Total interest expense | 5,462 | 4,709 | 15,083 | 13,832 |
Net interest income | 74,621 | 50,633 | 191,819 | 138,237 |
Provision for loan and lease losses | -3,687 | -3,818 | -10,574 | -9,212 |
Net interest income after provision for loan and lease losses | 70,934 | 46,815 | 181,245 | 129,025 |
Non-interest income: | ' | ' | ' | ' |
Service charges on deposit accounts | 7,356 | 5,817 | 19,601 | 15,613 |
Mortgage lending income | 1,728 | 1,276 | 3,807 | 4,660 |
Trust income | 1,419 | 1,060 | 4,099 | 2,808 |
BOLI income | 1,390 | 1,179 | 3,799 | 3,365 |
Accretion (amortization) of FDIC loss share receivable, net of amortization of FDIC clawback payable | -562 | 1,396 | -611 | 6,269 |
Other income from loss share and purchased non-covered loans, net | 3,369 | 2,484 | 10,309 | 8,328 |
Net gains on investment securities | 43 | 0 | 67 | 156 |
Gains on sales of other assets | 1,688 | 2,501 | 4,111 | 7,586 |
Gain on merger and acquisition transactions | 0 | 5,163 | 4,667 | 5,163 |
Other | 2,817 | 1,226 | 7,147 | 3,498 |
Total non-interest income | 19,248 | 22,102 | 56,996 | 57,446 |
Non-interest expense: | ' | ' | ' | ' |
Salaries and employee benefits | 20,876 | 16,456 | 57,396 | 47,445 |
Net occupancy and equipment | 6,823 | 4,786 | 17,574 | 13,670 |
Other operating expenses | 14,824 | 10,966 | 42,886 | 30,226 |
Total non-interest expense | 42,523 | 32,208 | 117,856 | 91,341 |
Income before taxes | 47,659 | 36,709 | 120,385 | 95,130 |
Provision for income taxes | 15,579 | 10,224 | 36,559 | 28,255 |
Net income | 32,080 | 26,485 | 83,826 | 66,875 |
Earnings attributable to noncontrolling interest | 13 | -33 | 29 | -36 |
Net income available to common stock | $32,093 | $26,452 | $83,855 | $66,839 |
Basic earnings per common share | $0.40 | $0.36 | $1.09 | $0.94 |
Diluted earnings per common share | $0.40 | $0.36 | $1.08 | $0.93 |
Dividends declared per common share | $0.12 | $0.10 | $0.35 | $0.26 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $32,080 | $26,485 | $83,826 | $66,875 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized gains and losses on investment securities AFS | 1,223 | 732 | 23,754 | -18,333 |
Tax effect of unrealized gains and losses on investment securities AFS | -479 | -287 | -9,317 | 7,191 |
Reclassification of gains and losses on investment securities AFS included in net income | -43 | 0 | -67 | -156 |
Tax effect of reclassification of gains and losses on investment securities AFS included in net income | 17 | 0 | 26 | 62 |
Total other comprehensive income (loss) | 718 | 445 | 14,396 | -11,236 |
Total comprehensive income | $32,798 | $26,930 | $98,222 | $55,639 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholder's Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income Loss [Member] | Non-Controlling Interest [Member] | First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] |
In Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income Loss [Member] | Non-Controlling Interest [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income Loss [Member] | Non-Controlling Interest [Member] | ||||||||
Balances at Dec. 31, 2012 | $511,106 | $706 | $72,690 | $423,485 | $10,783 | $3,442 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 66,875 | 0 | 0 | 66,875 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings attributable to noncontrolling interest | 0 | 0 | 0 | -36 | 0 | 36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive income (loss) | -11,236 | 0 | 0 | 0 | -11,236 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock dividends | -18,036 | 0 | 0 | -18,036 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of split-adjusted shares of common stock for exercise of stock options | 2,617 | 4 | 2,613 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefit on exercise and forfeiture of stock options | 1,458 | 0 | 1,458 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,238 | 0 | 3,238 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of split-adjusted common stock for acquisition | ' | ' | ' | ' | ' | ' | 59,794 | 25 | 59,769 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' |
Balances at Sep. 30, 2013 | 615,816 | 735 | 139,768 | 472,288 | -453 | 3,478 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances at Dec. 31, 2013 | 632,530 | 737 | 143,017 | 488,978 | -3,672 | 3,470 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 83,826 | 0 | 0 | 83,826 | 0 | 0 | ' | ' | ' | ' | ' | ' | 7,400 | ' | ' | ' | ' | ' |
Earnings attributable to noncontrolling interest | 0 | 0 | 0 | 29 | 0 | -29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive income (loss) | 14,396 | 0 | 0 | 0 | 14,396 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock dividends | -26,166 | 0 | 0 | -26,166 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of split-adjusted shares of common stock for exercise of stock options | 2,067 | 2 | 2,065 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeiture of split-adjusted shares of unvested common stock under restricted stock plan | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess tax benefit on exercise and forfeiture of stock options | 1,649 | 0 | 1,649 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 4,402 | 0 | 4,402 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of split-adjusted common stock for acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 166,315 | 58 | 166,257 | 0 | 0 | 0 |
Balances at Sep. 30, 2014 | $879,019 | $797 | $317,390 | $546,667 | $10,724 | $3,441 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholder's Equity (Unaudited) (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Issuance of split-adjusted common stock for exercise of stock options, shares | 228,600 | 356,800 |
Forfeiture of unvested common stock under restricted stock plan, shares | 1,200 | ' |
First National Bank [Member] | ' | ' |
Issuance of split-adjusted common stock for acquisition, shares | ' | 2,514,770 |
Common stock issuance cost | ' | 285,000 |
Summit Bancorp, Inc. [Member] | ' | ' |
Issuance of split-adjusted common stock for acquisition, shares | 5,765,846 | ' |
Common stock issuance cost | 87,000 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $83,826 | $66,875 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation | 5,968 | 5,317 |
Amortization | 3,464 | 1,924 |
Earnings attributable to noncontrolling interest | 29 | -36 |
Provision for loan and lease losses | 10,574 | 9,212 |
Provision for losses on foreclosed assets | 862 | 1,072 |
Net amortization of investment securities AFS | 431 | 450 |
Net gains on investment securities AFS | -67 | -156 |
Originations of mortgage loans held for sale | -152,767 | -172,210 |
Proceeds from sales of mortgage loans held for sale | 154,409 | 191,570 |
Accretion of covered loans | -31,166 | -34,845 |
Accretion of purchased non-covered loans | -39,534 | -7,366 |
(Accretion)/amortization of FDIC loss share receivable, net of amortization of FDIC clawback payable | 611 | -6,269 |
Gains on sales of other assets | -4,111 | -7,586 |
Gain on merger and acquisition transactions | -4,667 | -5,163 |
Deferred income tax benefit | -6,625 | -2,070 |
Increase in cash surrender value of BOLI | -3,799 | -3,365 |
Excess tax benefit on exercise and forfeiture of stock options | -1,649 | -1,458 |
Stock-based compensation expense | 4,402 | 3,238 |
Changes in assets and liabilities: | ' | ' |
Accrued interest receivable | -1,872 | -900 |
Other assets, net | 5,496 | 2,473 |
Accrued interest payable and other liabilities | 24,396 | 2,137 |
Net cash provided by operating activities | 48,211 | 42,844 |
Cash flows from investing activities: | ' | ' |
Proceeds from sales of investment securities AFS | 54,957 | 999 |
Proceeds from maturities/calls/paydowns of investment securities AFS | 68,349 | 71,860 |
Purchases of investment securities AFS | -46,618 | -124,193 |
Net advances on non-purchased loans and leases | -1,017,513 | -428,273 |
Payments received on purchased non-covered loans | 253,347 | 37,666 |
Payments received on covered loans | 97,915 | 177,094 |
Payments received from FDIC under loss share agreements | 24,810 | 66,993 |
Other net decreases in covered assets and FDIC loss share receivable | 15,267 | 21,634 |
Purchases of premises and equipment | -10,352 | -7,815 |
Proceeds from sales of other assets | 54,350 | 47,975 |
Cash received from (invested) in unconsolidated investments | 1,320 | -571 |
Net cash received in merger and acquisition transactions | 121,918 | 56,786 |
Net cash used by investing activities | -382,250 | -79,845 |
Cash flows from financing activities: | ' | ' |
Net increase (decrease) in deposits | 196,998 | -46,987 |
Net proceeds from other borrowings | 71,276 | 142 |
Net increase in repurchase agreements with customers | 4,324 | 14,298 |
Proceeds from exercise of stock options | 2,067 | 2,617 |
Excess tax benefit on exercise and forfeiture of stock options | 1,649 | 1,458 |
Cash dividends paid on common stock | -26,166 | -18,036 |
Net cash provided (used) by financing activities | 250,148 | -46,508 |
Net decrease in cash and cash equivalents | -83,891 | -83,509 |
Cash and cash equivalents - beginning of period | 195,975 | 207,967 |
Cash and cash equivalents - end of period | $112,084 | $124,458 |
Organization_and_Principles_of
Organization and Principles of Consolidation | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Organization and Principles of Consolidation | ' | |
1 | Organization and Principles of Consolidation | |
Bank of the Ozarks, Inc. (the “Company”) is a bank holding company headquartered in Little Rock, Arkansas, which operates under the rules and regulations of the Board of Governors of the Federal Reserve System. The Company owns a wholly-owned state chartered bank subsidiary – Bank of the Ozarks (the “Bank”), four 100%-owned finance subsidiary business trusts – Ozark Capital Statutory Trust II (“Ozark II”), Ozark Capital Statutory Trust III (“Ozark III”), Ozark Capital Statutory Trust IV (“Ozark IV”) and Ozark Capital Statutory Trust V (“Ozark V”) (collectively, the “Trusts”) and, indirectly through the Bank, a subsidiary engaged in the development of real estate, a subsidiary that owns private aircraft and various other entities that hold foreclosed assets or tax credits or engage in other activities. The Company and Bank are subject to the regulation of certain federal and state agencies and undergo periodic examinations by those regulatory authorities. The consolidated financial statements include the accounts of the Company, the Bank, the real estate subsidiary, the aircraft subsidiary and certain of those various other entities in accordance with accounting principles generally accepted in the United States (“GAAP”). Significant intercompany transactions and amounts have been eliminated in consolidation. | ||
At September 30, 2014, the Company had 165 offices, including 88 in Arkansas, 28 in Georgia, 21 in Texas, 17 in North Carolina, five in Florida, three in Alabama, and one office each in South Carolina, New York and California. |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
2 | Basis of Presentation | |
The accompanying consolidated financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) in Article 10 of Regulation S-X and in accordance with the instructions to Form 10-Q and GAAP for interim financial information. Certain information, accounting policies and footnote disclosures normally included in complete financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, all adjustments considered necessary, consisting of normal recurring items, have been included for a fair presentation of the accompanying consolidated financial statements. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the full year or future periods. | ||
On June 23, 2014, the Company completed a two-for-one stock split in the form of a stock dividend, effected by issuing one share of common stock for each share of such stock outstanding on June 13, 2014. All share and per share information in the consolidated financial statements and the notes to the consolidated financial statements has been adjusted to give effect to this stock split. | ||
Certain reclassifications of prior period amounts have been made to conform with the current period presentation. These reclassifications had no impact on previously reported net income. Additionally, as provided for under GAAP, management has up to 12 months following the date of a business combination transaction to finalize the fair values of acquired assets and assumed liabilities. Once management has finalized the fair values of acquired assets and assumed liabilities within this 12-month period, management considers such values to be the day 1 fair values (“Day 1 Fair Values”). During the second quarter of 2014, the Company revised its initial estimates regarding the expected recovery of acquired assets with built-in losses in its July 31, 2013 acquisition of The First National Bank of Shelby (“First National Bank”). As a result, certain amounts previously reported in the Company’s financial statements have been recast. | ||
Acquisitions
Acquisitions | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||||
Acquisitions | ' | ||||||||||||||||||||
3 | Acquisitions | ||||||||||||||||||||
On July 31, 2014, the Company entered into a definitive agreement and plan of merger (the “Intervest Agreement”) with Intervest Bancshares Corporation (“Intervest”), and its wholly-owned bank subsidiary Intervest National Bank (“INB”), headquartered in New York, New York, whereby the Company will acquire all of the outstanding common stock of Intervest in a transaction valued at approximately $228.5 million. INB operates seven full service banking offices including one in New York City, five in Clearwater, Florida and one in Pasadena, Florida. At September 30, 2014, INB reported approximately $1.51 billion in total assets, approximately $1.18 billion in loans, approximately $0.31 million in investment securities and approximately $1.21 billion in deposits. | |||||||||||||||||||||
Under the terms of the Intervest Agreement, each outstanding share of common stock of Intervest will be converted into the right to receive shares of the Company’s common stock, plus cash in lieu of any fractional share, all subject to certain conditions and potential adjustments. The number of Company shares to be issued will be determined based on the Company’s 10-day average closing stock price as of the fifth business day prior to the closing date, subject to a minimum price of $23.95 per share and a maximum price of $39.91 per share. Upon the closing of the transaction, Intervest will merge into the Company and INB will merge into the Bank. Completion of the transaction is subject to certain closing conditions, including receipt of customary regulatory approvals and the approval of Intervest’s stockholders. | |||||||||||||||||||||
Summit Bancorp, Inc. | |||||||||||||||||||||
On May 16, 2014, the Company completed its acquisition of Summit Bancorp, Inc. (“Summit”) and Summit Bank, its wholly-owned bank subsidiary, for an aggregate of $42.5 million in cash and 5,765,846 split-adjusted shares of its common stock. The acquisition of Summit expanded the Company’s service area in Central, South and Western Arkansas by adding 23 banking locations and one loan production office in nine Arkansas counties. During the second quarter of 2014, the Company closed one of the banking offices and the one loan production office acquired in the Summit acquisition. | |||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by Summit, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, and the resultant fair values of those assets and liabilities as recorded by the Company. As provided for under GAAP, management has up to 12 months following the date of acquisition to finalize the fair values of the acquired assets and assumed liabilities. The fair value adjustments and the resultant fair values shown in the following table continue to be evaluated by management and may be subject to further adjustment. | |||||||||||||||||||||
May 16, 2014 | |||||||||||||||||||||
As Recorded by | Fair Value | As Recorded | |||||||||||||||||||
Summit | Adjustments | by the | |||||||||||||||||||
Company | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash, due from banks and interest earning deposits | $ | 84,106 | $ | (304 | ) | a | $ | 83,802 | |||||||||||||
Investment securities | 242,149 | 765 | b | 242,914 | |||||||||||||||||
Loans and leases | 742,546 | (24,718 | ) | c | 717,828 | ||||||||||||||||
Allowance for loan losses | (13,183 | ) | 13,183 | c | 0 | ||||||||||||||||
Premises and equipment | 13,773 | (1,108 | ) | d | 12,665 | ||||||||||||||||
Foreclosed assets | 3,094 | (1,088 | ) | e | 2,006 | ||||||||||||||||
Accrued interest receivable and other assets | 11,016 | 1,461 | f | 12,477 | |||||||||||||||||
Bank owned life insurance | 33,398 | 0 | 33,398 | ||||||||||||||||||
Core deposit intangible asset | 0 | 15,340 | g | 15,340 | |||||||||||||||||
Deferred income taxes | 3,878 | 953 | h | 4,831 | |||||||||||||||||
Total assets acquired | 1,120,777 | 4,484 | 1,125,261 | ||||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 965,687 | 4,074 | i | 969,761 | |||||||||||||||||
Repurchase agreements with customers | 16,515 | 0 | 16,515 | ||||||||||||||||||
Accrued interest payable and other liabilities | 2,352 | 1,206 | j | 3,558 | |||||||||||||||||
Total liabilities assumed | 984,554 | 5,280 | 989,834 | ||||||||||||||||||
Net assets acquired | $ | 136,223 | $ | (796 | ) | 135,427 | |||||||||||||||
Consideration paid: | |||||||||||||||||||||
Cash | 42,451 | ||||||||||||||||||||
Stock | 166,402 | ||||||||||||||||||||
Total consideration paid | 208,853 | ||||||||||||||||||||
Goodwill | $ | 73,426 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of acquired interest earning deposits. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the recorded allowance for loan losses. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
g- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
h- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. | ||||||||||||||||||||
i- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
j- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Summit. | ||||||||||||||||||||
Goodwill of $73.4 million, which is the excess of the merger consideration over the fair value of net assets acquired, was recorded in the Summit acquisition and is the result of expected operational synergies and other factors. This goodwill is not expected to be deductible for tax purposes. | |||||||||||||||||||||
The Company’s consolidated results of operations include the operating results for Summit beginning May 16, 2014 through the end of the reporting period. Summit’s operating results contributed $10.9 million of net interest income and $5.0 million of net income to the Company’s results of operations for the three months ended September 30, 2014, and contributed $16.6 million of net interest income and $7.4 million of net income to the Company’s results of operations for the nine months ended September 30, 2014. | |||||||||||||||||||||
The following unaudited supplemental pro forma information is presented to show the estimated results assuming Summit was acquired as of the beginning of each period presented, adjusted for estimated potential costs savings. These unaudited pro forma results are not necessarily indicative of the operating results that the Company would have achieved had it completed the acquisition as of January 1, 2013 or 2014 and should not be considered as representative of future operating results. | |||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(Dollars in thousands, | |||||||||||||||||||||
except per share amounts) | |||||||||||||||||||||
Net interest income – pro forma (unaudited) | $ | 208,758 | $ | 171,824 | |||||||||||||||||
Net income – pro forma (unaudited) | $ | 91,402 | $ | 81,787 | |||||||||||||||||
Diluted earnings per common share – pro forma (unaudited) | $ | 1.14 | $ | 1.05 | |||||||||||||||||
Bancshares, Inc. | |||||||||||||||||||||
On March 5, 2014, the Company completed its acquisition of Bancshares, Inc. (“Bancshares”) of Houston, Texas and OMNIBANK, N.A., its wholly-owned bank subsidiary for an aggregate of $21.5 million in cash. The acquisition of Bancshares expanded the Company’s service area in South Texas by adding three offices in Houston and one office each in Austin, Cedar Park, Lockhart, and San Antonio. | |||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by Bancshares, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, and the resultant fair values of those assets and liabilities as recorded by the Company. As provided for under GAAP, management has up to 12 months following the date of acquisition to finalize the fair values of the acquired assets and assumed liabilities. The fair value adjustments and the resultant fair values shown in the following table continue to be evaluated by management and may be subject to further adjustment. | |||||||||||||||||||||
March 5, 2014 | |||||||||||||||||||||
As Recorded by | Fair Value | As Recorded | |||||||||||||||||||
Bancshares | Adjustments | by the | |||||||||||||||||||
Company | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash and due from banks | $ | 102,156 | $ | 0 | $ | 102,156 | |||||||||||||||
Investment securities | 1,860 | (1 | ) | a | 1,859 | ||||||||||||||||
Loans and leases | 165,939 | (10,764 | ) | b | 155,175 | ||||||||||||||||
Allowance for loan losses | (5,280 | ) | 5,280 | b | 0 | ||||||||||||||||
Premises and equipment | 6,259 | 1,619 | c | 7,878 | |||||||||||||||||
Foreclosed assets | 7,634 | (2,916 | ) | d | 4,718 | ||||||||||||||||
Accrued interest receivable and other assets | 608 | (294 | ) | e | 314 | ||||||||||||||||
Core deposit intangible asset | 0 | 2,648 | f | 2,648 | |||||||||||||||||
Deferred income taxes | 7,110 | 1,881 | g | 8,991 | |||||||||||||||||
Total assets acquired | 286,286 | (2,547 | ) | 283,739 | |||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 255,798 | 121 | h | 255,919 | |||||||||||||||||
Accrued interest payable and other liabilities | 1,358 | 295 | i | 1,653 | |||||||||||||||||
Total liabilities assumed | 257,156 | 416 | 257,572 | ||||||||||||||||||
Net assets acquired | $ | 29,130 | $ | (2,963 | ) | 26,167 | |||||||||||||||
Total cash consideration paid | (21,500 | ) | |||||||||||||||||||
Gain on acquisition | $ | 4,667 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the recorded allowance for loan losses. | ||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
g- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management has determined that acquired net operating loss carryforwards are expected to be settled in future periods where the realization of such benefits would be subject to limitations under section 382 of the Internal Revenue Code (“section 382 limitations”). Accordingly, as of the date of acquisition, the Company had established a deferred tax asset valuation allowance of approximately $0.5 million to reflect its assessment that the realization of the benefits from the settlement of these acquired net operating losses is expected to be subject to section 382 limitations. To the extent that additional information becomes available, management may be required to adjust its estimates and assumptions regarding the realization of the benefits associated with these acquired net operating losses by adjusting this deferred tax asset valuation allowance. | ||||||||||||||||||||
h- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
i- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Bancshares. | ||||||||||||||||||||
The Company’s consolidated results of operations include the operating results for Bancshares beginning March 6, 2014 through the end of the reporting period. For the three months ended September 30, 2014, Bancshares’ operating results contributed $2.1 million of net interest income and $1.1 million of net income to the Company’s results of operations. For the nine months ended September 30, 2014, Bancshares’ operating results contributed $5.5 million of net interest income and $7.5 million of net income, including the $4.7 million of tax-exempt bargain purchase gain, to the Company’s results of operations. | |||||||||||||||||||||
The First National Bank of Shelby | |||||||||||||||||||||
On July 31, 2013, the Company completed the First National Bank acquisition whereby First National Bank merged with and into the Company’s wholly-owned bank subsidiary for an aggregate of $8.4 million in cash and 2,514,770 split-adjusted shares of its common stock. The Company also acquired certain real property from parties related to First National Bank and on which certain First National Bank offices are located for $3.8 million in cash. | |||||||||||||||||||||
The acquisition of First National Bank expanded the Company’s service area in North Carolina by adding 14 offices in Shelby, North Carolina and the surrounding communities. On September 24, 2013 the Company closed one of the acquired offices in Shelby, North Carolina. | |||||||||||||||||||||
During the second quarter of 2014, management revised its initial estimates and assumptions regarding the expected recovery of acquired assets with built-in losses, specifically the timing of expected charge-offs of purchased non-covered loans, in the First National Bank acquisition. As a result of such revision, management concluded that the deferred tax asset valuation allowance of $4.1 million was not necessary. Because such revision occurred during the first 12 months following the date of acquisition and was not the result of changes in circumstances, management has recast the third quarter 2013 financial statements, along with all subsequent financial statements, to increase the bargain purchase gain on the First National Bank acquisition by $4.1 million to reflect this change in estimate. | |||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by First National Bank, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, the recast adjustment described above and the resultant fair values of those assets and liabilities as recorded by the Company. | |||||||||||||||||||||
July 31, 2013 | |||||||||||||||||||||
As Recorded | Fair Value | Recast | As Recorded | ||||||||||||||||||
by First | Adjustments | Adjustment | by the | ||||||||||||||||||
National Bank | Company | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash and due from banks | $ | 69,285 | $ | 0 | $ | 0 | $ | 69,285 | |||||||||||||
Investment securities | 149,943 | (599 | ) | a | 0 | 149,344 | |||||||||||||||
Loans and leases | 432,250 | (44,183 | ) | b | 0 | 388,067 | |||||||||||||||
Allowance for loan losses | (13,931 | ) | 13,931 | b | 0 | 0 | |||||||||||||||
Premises and equipment | 14,318 | 5,064 | c | 0 | 19,382 | ||||||||||||||||
Foreclosed assets | 3,073 | (915 | ) | d | 0 | 2,158 | |||||||||||||||
Accrued interest receivable | 1,234 | (110 | ) | e | 0 | 1,124 | |||||||||||||||
BOLI | 14,812 | 0 | 0 | 14,812 | |||||||||||||||||
Core deposit intangible asset | 0 | 10,136 | f | 0 | 10,136 | ||||||||||||||||
Deferred income taxes | 12,179 | 12,325 | g | 4,102 | 28,606 | ||||||||||||||||
Other assets | 4,277 | (251 | ) | e | 0 | 4,026 | |||||||||||||||
Total assets acquired | 687,440 | (4,602 | ) | 4,102 | 686,940 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 595,668 | 4,950 | h | 0 | 600,618 | ||||||||||||||||
Repurchase agreements with customers | 6,405 | 0 | 0 | 6,405 | |||||||||||||||||
Accrued interest payable and other | 1,296 | 1,164 | i | 0 | 2,460 | ||||||||||||||||
liabilities | |||||||||||||||||||||
Total liabilities assumed | 603,369 | 6,114 | 0 | 609,483 | |||||||||||||||||
Net assets acquired | $ | 84,071 | $ | (10,716 | ) | $ | 4,102 | 77,457 | |||||||||||||
Consideration paid: | |||||||||||||||||||||
Cash | (12,215 | ) | |||||||||||||||||||
Common stock | (60,079 | ) | |||||||||||||||||||
Total consideration paid | (72,294 | ) | |||||||||||||||||||
Gain on acquisition | $ | 5,163 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the | ||||||||||||||||||||
recorded allowance for loan losses. | |||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
g- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management initially determined that acquired net operating loss carryforwards and other acquired assets with built-in losses were expected to be settled or otherwise recovered in future periods where the realization of such benefits would be subject to section 382 limitations. Accordingly, at the date of acquisition, the Company established a deferred tax asset valuation allowance of approximately $4.1 million to reflect its initial assessment that the realization of the benefits from the settlement or recovery of certain of these acquired assets and net operating losses was expected to be subject to section 382 limitations. During the second quarter of 2014, management determined such valuation allowance was not necessary. Accordingly, the Company’s acquisition of | ||||||||||||||||||||
First National Bank has been recast to reflect such determination. | |||||||||||||||||||||
h- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
i- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of First National Bank. | ||||||||||||||||||||
Beginning August 1, 2013, First National Bank operations are included in the Company’s consolidated results of operations. | |||||||||||||||||||||
As a result of the recast adjustment described above, certain amounts previously reported in the Company’s consolidated financial statements have been recast. The following is a summary of those financial statement captions that have been impacted by this recast adjustment. | |||||||||||||||||||||
As Previously | Recast | As Recast | |||||||||||||||||||
Reported | Adjustment | ||||||||||||||||||||
(Dollars in thousands, except per share amounts) | |||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||
Deferred income tax asset valuation allowance | $ | (4,102 | ) | $ | 4,102 | $ | 0 | ||||||||||||||
Total stockholders’ equity before noncontrolling interest | 608,236 | 4,102 | 612,338 | ||||||||||||||||||
Gain on merger and acquisition transaction | 1,061 | 4,102 | 5,163 | ||||||||||||||||||
Net income available to common stockholders | 62,737 | 4,102 | 66,839 | ||||||||||||||||||
Diluted earnings per common share, split adjusted | $ | 0.87 | $ | 0.06 | $ | 0.93 |
Earnings_Per_Common_Share_EPS
Earnings Per Common Share ("EPS") | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Common Share ("EPS") | ' | ||||||||||||||||
4 | Earnings Per Common Share (“EPS”) | ||||||||||||||||
Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding after consideration of the dilutive effect, if any, of the Company’s outstanding common stock options using the treasury stock method. No options to purchase shares of the Company’s common stock for the three months and nine months ended September 30, 2014 and the three months ended September 30, 2013 were excluded from the diluted EPS calculations as all options were dilutive. For the nine months ended September 30, 2013, options to purchase 4,000 split-adjusted shares of the Company’s common stock were excluded from the diluted EPS calculations as inclusion of these options would have been anti-dilutive. | |||||||||||||||||
The following table presents the computation of basic and diluted EPS for the periods indicated. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
Numerator: | |||||||||||||||||
Distributed earnings allocated to common stock | $ | 9,560 | $ | 6,732 | $ | 26,166 | $ | 18,036 | |||||||||
Undistributed earnings allocated to common stock | 22,533 | 19,720 | 57,689 | 48,803 | |||||||||||||
Net income available to common stock | $ | 32,093 | $ | 26,452 | $ | 83,855 | $ | 66,839 | |||||||||
Denominator: | |||||||||||||||||
Denominator for basic EPS – weighted-average common shares | 79,678 | 72,544 | 76,763 | 71,338 | |||||||||||||
Effect of dilutive securities – stock options | 767 | 752 | 706 | 650 | |||||||||||||
Denominator for diluted EPS – weighted-average common shares and assumed conversions | 80,445 | 73,296 | 77,469 | 71,988 | |||||||||||||
Basic EPS | $ | 0.4 | $ | 0.36 | $ | 1.09 | $ | 0.94 | |||||||||
Diluted EPS | $ | 0.4 | $ | 0.36 | $ | 1.08 | $ | 0.93 | |||||||||
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
5 | Investment Securities | ||||||||||||||||||||||||
At September 30, 2014 and 2013 and at December 31, 2013, the Company classified all of its investment securities portfolio as AFS. Accordingly, its investment securities are stated at estimated fair value in the consolidated financial statements with unrealized gains and losses, net of related income tax, reported as a separate component of stockholders’ equity and included in accumulated other comprehensive income (loss). | |||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value of investment securities AFS as of the dates indicated. The Company’s holdings of “other equity securities” include Federal Home Loan Bank of Dallas (“FHLB – Dallas”) and First National Banker’s Bankshares, Inc. (“FNBB”) shares, which do not have readily determinable fair values and are carried at cost. | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 572,070 | $ | 16,610 | $ | (1,101 | ) | $ | 587,579 | ||||||||||||||||
U.S. Government agency securities | 251,926 | 4,427 | (2,291 | ) | 254,062 | ||||||||||||||||||||
Corporate obligations | 655 | 0 | 0 | 655 | |||||||||||||||||||||
Other equity securities | 17,580 | 0 | 0 | 17,580 | |||||||||||||||||||||
Total | $ | 842,231 | $ | 21,037 | $ | (3,392 | ) | $ | 859,876 | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 438,390 | $ | 6,230 | $ | (8,631 | ) | $ | 435,989 | ||||||||||||||||
U.S. Government agency securities | 222,510 | 2,352 | (5,993 | ) | 218,869 | ||||||||||||||||||||
Corporate obligations | 716 | 0 | 0 | 716 | |||||||||||||||||||||
Other equity securities | 13,810 | 0 | 0 | 13,810 | |||||||||||||||||||||
Total | $ | 675,426 | $ | 8,582 | $ | (14,624 | ) | $ | 669,384 | ||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 432,362 | $ | 7,423 | $ | (8,217 | ) | $ | 431,568 | ||||||||||||||||
U.S. Government agency securities | 225,263 | 4,077 | (4,029 | ) | 225,311 | ||||||||||||||||||||
Corporate obligations | 717 | 0 | 0 | 717 | |||||||||||||||||||||
Other equity securities | 13,797 | 0 | 0 | 13,797 | |||||||||||||||||||||
Total | $ | 672,139 | $ | 11,500 | $ | (12,246 | ) | $ | 671,393 | ||||||||||||||||
The following table shows estimated fair value of investment securities AFS having gross unrealized losses and the amount of such unrealized losses, aggregated by investment category and length of time that individual investment securities have been in a continuous unrealized loss position, as of the dates indicated. | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 40,386 | $ | 146 | $ | 53,628 | $ | 955 | $ | 94,014 | $ | 1,101 | |||||||||||||
U.S. Government agency securities | 44,958 | 226 | 57,610 | 2,065 | 102,568 | 2,291 | |||||||||||||||||||
Total temporarily impaired securities | $ | 85,344 | $ | 372 | $ | 111,238 | $ | 3,020 | $ | 196,582 | $ | 3,392 | |||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 132,568 | $ | 7,237 | $ | 10,823 | $ | 1,394 | $ | 143,391 | $ | 8,631 | |||||||||||||
U.S. Government agency securities | 127,274 | 5,993 | 0 | 0 | 127,274 | 5,993 | |||||||||||||||||||
Total temporarily impaired securities | $ | 259,842 | $ | 13,230 | $ | 10,823 | $ | 1,394 | $ | 270,665 | $ | 14,624 | |||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 122,614 | $ | 7,523 | $ | 8,020 | $ | 694 | $ | 130,634 | $ | 8,217 | |||||||||||||
U.S. Government agency securities | 60,861 | 4,029 | 0 | 0 | 60,861 | 4,029 | |||||||||||||||||||
Total temporarily impaired securities | $ | 183,475 | $ | 11,552 | $ | 8,020 | $ | 694 | $ | 191,495 | $ | 12,246 | |||||||||||||
In evaluating the Company’s unrealized loss positions for other-than-temporary impairment of its investment securities portfolio, management considers the credit quality of the issuer, the nature and cause of the unrealized loss, the severity and duration of the impairments and other factors. At September 30, 2014 management determined the unrealized losses were the result of fluctuations in interest rates and did not reflect deteriorations of the credit quality of the investments. Accordingly, management considers these unrealized losses to be temporary in nature. The Company does not have the intent to sell these investment securities with unrealized losses and, more likely than not, will not be required to sell these investment securities before fair value recovers to amortized cost. | |||||||||||||||||||||||||
The following table shows the amortized cost and estimated fair value of investment securities AFS by maturity or estimated date of repayment as of the date indicated. | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Maturity or | Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||
Estimated Repayment | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
One year or less | $ | 37,664 | $ | 38,291 | |||||||||||||||||||||
After one year to five years | 138,870 | 140,563 | |||||||||||||||||||||||
After five years to ten years | 194,325 | 196,655 | |||||||||||||||||||||||
After ten years | 471,372 | 484,367 | |||||||||||||||||||||||
Total | $ | 842,231 | $ | 859,876 | |||||||||||||||||||||
For purposes of this maturity distribution, all investment securities AFS are shown based on their contractual maturity date or estimated date of repayment, except (i) FHLB – Dallas and FNBB stock with no contractual maturity date are shown in the longest maturity category and (ii) U.S. Government agency securities and municipal housing authority securities backed by residential mortgages are allocated among various maturities based on an estimated repayment schedule utilizing Bloomberg median prepayment speeds or other estimates of prepayment speeds and interest rate levels at the measurement date. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
The following table is a summary of sales activities in the Company’s investment securities AFS for the periods indicated. | |||||||||||||||||||||||||
Three Months | Nine Months Ended | ||||||||||||||||||||||||
Ended | September 30, | ||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Sales proceeds | $ | 6,563 | $ | 0 | $ | 54,957 | $ | 999 | |||||||||||||||||
Gross realized gains | $ | 58 | $ | 0 | $ | 82 | $ | 156 | |||||||||||||||||
Gross realized losses | (15 | ) | 0 | (15 | ) | 0 | |||||||||||||||||||
Net gains on investment securities | $ | 43 | $ | 0 | $ | 67 | $ | 156 | |||||||||||||||||
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses ("ALLL") and Credit Quality Indicators | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses ("ALLL") and Credit Quality Indicators | ' | ||||||||||||||||||||||||||||||||
6 | Allowance for Loan and Lease Losses (“ALLL”) and Credit Quality Indicators | ||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | |||||||||||||||||||||||||||||||||
The following table is a summary of activity within the ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 46,958 | $ | 39,372 | $ | 42,945 | $ | 38,738 | |||||||||||||||||||||||||
Non-purchased loans and leases charged off | (737 | ) | (754 | ) | (3,306 | ) | (3,203 | ) | |||||||||||||||||||||||||
Recoveries of non-purchased loans and leases previously charged off | 185 | 142 | 1,167 | 925 | |||||||||||||||||||||||||||||
Net non-purchased loans and leases charged off | (552 | ) | (612 | ) | (2,139 | ) | (2,278 | ) | |||||||||||||||||||||||||
Covered loans charged off | (205 | ) | (918 | ) | (925 | ) | (4,012 | ) | |||||||||||||||||||||||||
Purchased non-covered loans charged off | (282 | ) | 0 | (849 | ) | 0 | |||||||||||||||||||||||||||
Net charge-offs – total loans and leases | (1,039 | ) | (1,530 | ) | (3,913 | ) | (6,290 | ) | |||||||||||||||||||||||||
Provision for loan and lease losses: | |||||||||||||||||||||||||||||||||
Non-purchased loans and leases | 3,200 | 2,900 | 8,800 | 5,200 | |||||||||||||||||||||||||||||
Covered loans | 205 | 918 | 925 | 4,012 | |||||||||||||||||||||||||||||
Purchased non-covered loans | 282 | 0 | 849 | 0 | |||||||||||||||||||||||||||||
Total provision | 3,687 | 3,818 | 10,574 | 9,212 | |||||||||||||||||||||||||||||
Ending balance | $ | 49,606 | $ | 41,660 | $ | 49,606 | $ | 41,660 | |||||||||||||||||||||||||
At September 30, 2014 and 2013, the Company identified covered loans acquired in its FDIC-assisted acquisitions where the expected performance of such loans had deteriorated from management’s performance expectations established in conjunction with the determination of the Day 1 Fair Values. As a result the Company recorded partial charge-offs, net of adjustments to the FDIC loss share receivable and the FDIC clawback payable, totaling $0.2 million for such loans during the third quarter of 2014 and $0.9 million for such loans during the first nine months of 2014 compared to $0.9 million for such loans during the third quarter of 2013 and $4.0 million for such loans during the first nine months of 2013. The Company also recorded provision for loan and lease losses of $0.2 million during the third quarter of 2014 and $0.9 million during the first nine months of 2014 compared to $0.9 million for such loans during the third quarter of 2013 and $4.0 million for such loans during the first nine months of 2013 to cover such charge-offs. In addition to those net charge-offs, the Company transferred certain of these covered loans to covered foreclosed assets. As a result, the Company had $13.6 million and $52.6 million, respectively, of impaired covered loans at September 30, 2014 and 2013. | |||||||||||||||||||||||||||||||||
As of September 30, 2014, the Company had identified purchased non-covered loans where the expected performance had deteriorated from management’s performance expectations established in conjunction with the determination of the Day 1 Fair Values or where current information indicates it is probable that the Company will not be able to collect all amounts according to the contractual terms thereon. As a result, the Company recorded partial charge-offs totaling $0.3 million during the third quarter and $0.9 million during the first nine months of 2014 compared to none for the comparable periods in 2013. The Company also recorded provision for loan and lease losses of $0.3 million during the third quarter and $0.9 million during the first nine months of 2014 to cover such charge-offs compared to none during the third quarter and first nine months of 2013. At September 30, 2014, the Company had $1.7 million of impaired purchased non-covered loans compared to none at both September 30, 2013 and December 31, 2013. | |||||||||||||||||||||||||||||||||
The following table is a summary of the Company’s ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Beginning | Charge-offs | Recoveries | Provision | Ending | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,760 | $ | (115 | ) | $ | 47 | $ | 610 | $ | 5,302 | ||||||||||||||||||||||
Non-farm/non-residential | 14,836 | (90 | ) | 15 | 3,267 | 18,028 | |||||||||||||||||||||||||||
Construction/land development | 15,464 | 0 | 4 | (950 | ) | 14,518 | |||||||||||||||||||||||||||
Agricultural | 2,908 | (198 | ) | 2 | (98 | ) | 2,614 | ||||||||||||||||||||||||||
Multifamily residential | 1,772 | 0 | 0 | (161 | ) | 1,611 | |||||||||||||||||||||||||||
Commercial and industrial | 2,848 | (55 | ) | 38 | 108 | 2,939 | |||||||||||||||||||||||||||
Consumer | 926 | (29 | ) | 14 | (89 | ) | 822 | ||||||||||||||||||||||||||
Direct financing leases | 2,572 | (151 | ) | 29 | 371 | 2,821 | |||||||||||||||||||||||||||
Other | 872 | (99 | ) | 36 | 142 | 951 | |||||||||||||||||||||||||||
Covered loans | 0 | (205 | ) | 0 | 205 | 0 | |||||||||||||||||||||||||||
Purchased non-covered loans | 0 | (282 | ) | 0 | 282 | 0 | |||||||||||||||||||||||||||
Total | $ | 46,958 | $ | (1,224 | ) | $ | 185 | $ | 3,687 | $ | 49,606 | ||||||||||||||||||||||
Nine months ended September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,701 | $ | (456 | ) | $ | 118 | $ | 939 | $ | 5,302 | ||||||||||||||||||||||
Non-farm/non-residential | 13,633 | (1,344 | ) | 19 | 5,720 | 18,028 | |||||||||||||||||||||||||||
Construction/land development | 12,306 | (14 | ) | 12 | 2,214 | 14,518 | |||||||||||||||||||||||||||
Agricultural | 3,000 | (213 | ) | 13 | (186 | ) | 2,614 | ||||||||||||||||||||||||||
Multifamily residential | 2,504 | 0 | 0 | (893 | ) | 1,611 | |||||||||||||||||||||||||||
Commercial and industrial | 2,855 | (477 | ) | 801 | (240 | ) | 2,939 | ||||||||||||||||||||||||||
Consumer | 917 | (126 | ) | 50 | (19 | ) | 822 | ||||||||||||||||||||||||||
Direct financing leases | 2,266 | (418 | ) | 43 | 930 | 2,821 | |||||||||||||||||||||||||||
Other | 763 | (258 | ) | 111 | 335 | 951 | |||||||||||||||||||||||||||
Covered loans | 0 | (925 | ) | 0 | 925 | 0 | |||||||||||||||||||||||||||
Purchased non-covered loans | 0 | (849 | ) | 0 | 849 | 0 | |||||||||||||||||||||||||||
Total | $ | 42,945 | $ | (5,080 | ) | $ | 1,167 | $ | 10,574 | $ | 49,606 | ||||||||||||||||||||||
The following table is a summary of the Company’s ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Beginning | Charge-offs | Recoveries | Provision | Ending | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Year ended December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,820 | $ | (837 | ) | $ | 106 | $ | 612 | $ | 4,701 | ||||||||||||||||||||||
Non-farm/non-residential | 10,107 | (1,111 | ) | 122 | 4,515 | 13,633 | |||||||||||||||||||||||||||
Construction/land development | 12,000 | (137 | ) | 174 | 269 | 12,306 | |||||||||||||||||||||||||||
Agricultural | 2,878 | (261 | ) | 14 | 369 | 3,000 | |||||||||||||||||||||||||||
Multifamily residential | 2,030 | (4 | ) | 4 | 474 | 2,504 | |||||||||||||||||||||||||||
Commercial and industrial | 3,655 | (922 | ) | 433 | (311 | ) | 2,855 | ||||||||||||||||||||||||||
Consumer | 1,015 | (214 | ) | 104 | 12 | 917 | |||||||||||||||||||||||||||
Direct financing leases | 2,050 | (482 | ) | 33 | 665 | 2,266 | |||||||||||||||||||||||||||
Other | 183 | (359 | ) | 144 | 795 | 763 | |||||||||||||||||||||||||||
Covered loans | 0 | (4,675 | ) | 0 | 4,675 | 0 | |||||||||||||||||||||||||||
Total | $ | 38,738 | $ | (9,002 | ) | $ | 1,134 | $ | 12,075 | $ | 42,945 | ||||||||||||||||||||||
Three months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,653 | $ | (111 | ) | $ | 11 | $ | 294 | $ | 4,847 | ||||||||||||||||||||||
Non-farm/non-residential | 12,464 | (19 | ) | 0 | 304 | 12,749 | |||||||||||||||||||||||||||
Construction/land development | 11,290 | (7 | ) | 13 | 1,434 | 12,730 | |||||||||||||||||||||||||||
Agricultural | 2,595 | (260 | ) | 5 | 182 | 2,522 | |||||||||||||||||||||||||||
Multifamily residential | 1,854 | 0 | 0 | 203 | 2,057 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,929 | (55 | ) | 56 | (172 | ) | 2,758 | ||||||||||||||||||||||||||
Consumer | 993 | (57 | ) | 19 | (13 | ) | 942 | ||||||||||||||||||||||||||
Direct financing leases | 2,041 | (152 | ) | 9 | 262 | 2,160 | |||||||||||||||||||||||||||
Other | 553 | (93 | ) | 29 | 406 | 895 | |||||||||||||||||||||||||||
Covered loans | 0 | (918 | ) | 0 | 918 | 0 | |||||||||||||||||||||||||||
Total | $ | 39,372 | $ | (1,672 | ) | $ | 142 | $ | 3,818 | $ | 41,660 | ||||||||||||||||||||||
Nine months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,820 | $ | (528 | ) | $ | 113 | $ | 442 | $ | 4,847 | ||||||||||||||||||||||
Non-farm/non-residential | 10,107 | (612 | ) | 118 | 3,136 | 12,749 | |||||||||||||||||||||||||||
Construction/land development | 12,000 | (136 | ) | 21 | 845 | 12,730 | |||||||||||||||||||||||||||
Agricultural | 2,878 | (260 | ) | 9 | (105 | ) | 2,522 | ||||||||||||||||||||||||||
Multifamily residential | 2,030 | 0 | 0 | 27 | 2,057 | ||||||||||||||||||||||||||||
Commercial and industrial | 3,655 | (887 | ) | 431 | (441 | ) | 2,758 | ||||||||||||||||||||||||||
Consumer | 1,015 | (176 | ) | 90 | 13 | 942 | |||||||||||||||||||||||||||
Direct financing leases | 2,050 | (338 | ) | 29 | 419 | 2,160 | |||||||||||||||||||||||||||
Other | 183 | (266 | ) | 114 | 864 | 895 | |||||||||||||||||||||||||||
Covered loans | 0 | (4,012 | ) | 0 | 4,012 | 0 | |||||||||||||||||||||||||||
Total | $ | 38,738 | $ | (7,215 | ) | $ | 925 | $ | 9,212 | $ | 41,660 | ||||||||||||||||||||||
The following table is a summary of the Company’s ALLL and recorded investment in non-purchased loans and leases, as of the dates indicated. | |||||||||||||||||||||||||||||||||
Allowance for Non-Purchased | Non-Purchased Loans and Leases | ||||||||||||||||||||||||||||||||
Loan and Lease Losses | |||||||||||||||||||||||||||||||||
ALLL for | ALLL for | Total | Individually | All Other | Total Loans | ||||||||||||||||||||||||||||
Individually | All Other | ALLL | Evaluated | Loans and | and Leases | ||||||||||||||||||||||||||||
Evaluated | Loans and | Impaired | Leases | ||||||||||||||||||||||||||||||
Impaired | Leases | Loans and | |||||||||||||||||||||||||||||||
Loans and | Leases | ||||||||||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 345 | $ | 4,957 | $ | 5,302 | $ | 2,360 | $ | 275,981 | $ | 278,341 | |||||||||||||||||||||
Non-farm/non-residential | 24 | 18,004 | 18,028 | 2,300 | 1,370,994 | 1,373,294 | |||||||||||||||||||||||||||
Construction/land development | 2 | 14,516 | 14,518 | 10,191 | 1,223,062 | 1,233,253 | |||||||||||||||||||||||||||
Agricultural | 30 | 2,584 | 2,614 | 376 | 46,345 | 46,721 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 1,611 | 1,611 | 0 | 155,940 | 155,940 | |||||||||||||||||||||||||||
Commercial and industrial | 606 | 2,333 | 2,939 | 578 | 312,714 | 313,292 | |||||||||||||||||||||||||||
Consumer | 3 | 819 | 822 | 32 | 25,367 | 25,399 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,821 | 2,821 | 0 | 109,059 | 109,059 | |||||||||||||||||||||||||||
Other | 0 | 951 | 951 | 8 | 103,835 | 103,843 | |||||||||||||||||||||||||||
Total | $ | 1,010 | $ | 48,596 | $ | 49,606 | $ | 15,845 | $ | 3,623,297 | $ | 3,639,142 | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 438 | $ | 4,263 | $ | 4,701 | $ | 4,047 | $ | 245,509 | $ | 249,556 | |||||||||||||||||||||
Non-farm/non-residential | 15 | 13,618 | 13,633 | 2,159 | 1,101,955 | 1,104,114 | |||||||||||||||||||||||||||
Construction/land development | 2 | 12,304 | 12,306 | 236 | 722,321 | 722,557 | |||||||||||||||||||||||||||
Agricultural | 229 | 2,771 | 3,000 | 883 | 44,313 | 45,196 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 2,504 | 2,504 | 0 | 208,337 | 208,337 | |||||||||||||||||||||||||||
Commercial and industrial | 652 | 2,203 | 2,855 | 686 | 123,382 | 124,068 | |||||||||||||||||||||||||||
Consumer | 3 | 914 | 917 | 50 | 26,132 | 26,182 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,266 | 2,266 | 0 | 86,321 | 86,321 | |||||||||||||||||||||||||||
Other | 2 | 761 | 763 | 26 | 66,208 | 66,234 | |||||||||||||||||||||||||||
Total | $ | 1,341 | $ | 41,604 | $ | 42,945 | $ | 8,087 | $ | 2,624,478 | $ | 2,632,565 | |||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 490 | $ | 4,357 | $ | 4,847 | $ | 3,535 | $ | 247,491 | $ | 251,026 | |||||||||||||||||||||
Non-farm/non-residential | 6 | 12,743 | 12,749 | 3,572 | 1,032,046 | 1,035,618 | |||||||||||||||||||||||||||
Construction/land development | 2 | 12,728 | 12,730 | 217 | 713,981 | 714,198 | |||||||||||||||||||||||||||
Agricultural | 187 | 2,335 | 2,522 | 951 | 47,002 | 47,953 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 2,057 | 2,057 | 310 | 163,606 | 163,916 | |||||||||||||||||||||||||||
Commercial and industrial | 613 | 2,145 | 2,758 | 739 | 121,424 | 122,163 | |||||||||||||||||||||||||||
Consumer | 4 | 938 | 942 | 33 | 27,265 | 27,298 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,160 | 2,160 | 0 | 81,984 | 81,984 | |||||||||||||||||||||||||||
Other | 1 | 894 | 895 | 20 | 78,413 | 78,433 | |||||||||||||||||||||||||||
Total | $ | 1,303 | $ | 40,357 | $ | 41,660 | $ | 9,377 | $ | 2,513,212 | $ | 2,522,589 | |||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the three months and nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | Weighted | ||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | Average | ||||||||||||||||||||||||||||
to Date | Net of | Carrying | Carrying | ||||||||||||||||||||||||||||||
Charge-offs | Value – Three | Value – Nine | |||||||||||||||||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 2,984 | $ | (1,654 | ) | $ | 1,330 | $ | 345 | $ | 1,452 | $ | 1,564 | ||||||||||||||||||||
Non-farm/non-residential | 415 | (216 | ) | 199 | 24 | 121 | 87 | ||||||||||||||||||||||||||
Construction/land development | 36 | (22 | ) | 14 | 2 | 16 | 16 | ||||||||||||||||||||||||||
Agricultural | 116 | (12 | ) | 104 | 30 | 214 | 311 | ||||||||||||||||||||||||||
Commercial and industrial | 1,314 | (764 | ) | 550 | 606 | 555 | 571 | ||||||||||||||||||||||||||
Consumer | 101 | (84 | ) | 17 | 3 | 20 | 22 | ||||||||||||||||||||||||||
Other | 0 | (0 | ) | 0 | 0 | 0 | 4 | ||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 4,966 | (2,752 | ) | 2,214 | 1,010 | 2,378 | 2,575 | ||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 1,343 | (313 | ) | 1,030 | 0 | 1,352 | 1,802 | ||||||||||||||||||||||||||
Non-farm/non-residential | 2,826 | (725 | ) | 2,101 | 0 | 2,210 | 2,025 | ||||||||||||||||||||||||||
Construction/land development | 10,258 | (81 | ) | 10,177 | 0 | 9,949 | 5,107 | ||||||||||||||||||||||||||
Agricultural | 474 | (202 | ) | 272 | 0 | 397 | 419 | ||||||||||||||||||||||||||
Multifamily residential | 133 | (133 | ) | 0 | 0 | 246 | 123 | ||||||||||||||||||||||||||
Commercial and industrial | 187 | (159 | ) | 28 | 0 | 79 | 73 | ||||||||||||||||||||||||||
Consumer | 20 | (5 | ) | 15 | 0 | 17 | 21 | ||||||||||||||||||||||||||
Other | 8 | (0 | ) | 8 | 0 | 8 | 9 | ||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 15,249 | (1,618 | ) | 13,631 | 0 | 14,258 | 9,579 | ||||||||||||||||||||||||||
Total impaired loans and leases | $ | 20,215 | $ | (4,370 | ) | $ | 15,845 | $ | 1,010 | $ | 16,636 | $ | 12,154 | ||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | |||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | |||||||||||||||||||||||||||||
to Date | Net of | Carrying | |||||||||||||||||||||||||||||||
Charge-offs | Value – Year | ||||||||||||||||||||||||||||||||
Ended | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,609 | $ | (1,692 | ) | $ | 1,917 | $ | 438 | $ | 1,638 | ||||||||||||||||||||||
Non-farm/non-residential | 121 | (75 | ) | 46 | 15 | 93 | |||||||||||||||||||||||||||
Construction/land development | 38 | (22 | ) | 16 | 2 | 17 | |||||||||||||||||||||||||||
Agricultural | 511 | (42 | ) | 469 | 229 | 514 | |||||||||||||||||||||||||||
Commercial and industrial | 2,016 | (1,405 | ) | 611 | 652 | 578 | |||||||||||||||||||||||||||
Consumer | 178 | (156 | ) | 22 | 3 | 10 | |||||||||||||||||||||||||||
Other | 40 | (25 | ) | 15 | 2 | 10 | |||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 6,513 | (3,417 | ) | 3,096 | 1,341 | 2,860 | |||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 2,939 | (808 | ) | 2,131 | 0 | 1,541 | |||||||||||||||||||||||||||
Non-farm/non-residential | 3,234 | (1,120 | ) | 2,114 | 0 | 4,344 | |||||||||||||||||||||||||||
Construction/land development | 300 | (81 | ) | 219 | 0 | 303 | |||||||||||||||||||||||||||
Agricultural | 426 | (12 | ) | 414 | 0 | 404 | |||||||||||||||||||||||||||
Multifamily residential | 133 | (133 | ) | 0 | 0 | 124 | |||||||||||||||||||||||||||
Commercial and industrial | 85 | (10 | ) | 75 | 0 | 172 | |||||||||||||||||||||||||||
Consumer | 39 | (12 | ) | 27 | 0 | 24 | |||||||||||||||||||||||||||
Other | 31 | (20 | ) | 11 | 0 | 9 | |||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 7,187 | (2,196 | ) | 4,991 | 0 | 6,921 | |||||||||||||||||||||||||||
Total impaired loans and leases | $ | 13,700 | $ | (5,613 | ) | $ | 8,087 | $ | 1,341 | $ | 9,781 | ||||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the three months and nine months ended September 30, 2013. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | Weighted | ||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | Average | ||||||||||||||||||||||||||||
to Date | Net of | Carrying | Carrying | ||||||||||||||||||||||||||||||
Charge-offs | Value – Three | Value – Nine | |||||||||||||||||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,601 | $ | (1,662 | ) | $ | 1,939 | $ | 490 | $ | 1,624 | $ | 1,569 | ||||||||||||||||||||
Non-farm/non-residential | 37 | 0 | 37 | 6 | 24 | 105 | |||||||||||||||||||||||||||
Construction/land development | 129 | (112 | ) | 17 | 2 | 8 | 17 | ||||||||||||||||||||||||||
Agricultural | 459 | (42 | ) | 417 | 187 | 421 | 525 | ||||||||||||||||||||||||||
Commercial and industrial | 2,270 | (1,713 | ) | 557 | 613 | 558 | 570 | ||||||||||||||||||||||||||
Consumer | 39 | (13 | ) | 26 | 4 | 13 | 7 | ||||||||||||||||||||||||||
Other | 145 | (137 | ) | 8 | 1 | 8 | 9 | ||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 6,680 | (3,679 | ) | 3,001 | 1,303 | 2,656 | 2,802 | ||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 2,244 | (648 | ) | 1,596 | 0 | 1,507 | 1,394 | ||||||||||||||||||||||||||
Non-farm/non-residential | 4,645 | (1,110 | ) | 3,535 | 0 | 6,957 | 4,902 | ||||||||||||||||||||||||||
Construction/land development | 281 | (81 | ) | 200 | 0 | 236 | 324 | ||||||||||||||||||||||||||
Agricultural | 801 | (267 | ) | 534 | 0 | 386 | 401 | ||||||||||||||||||||||||||
Multifamily residential | 443 | (133 | ) | 310 | 0 | 311 | 155 | ||||||||||||||||||||||||||
Commercial and industrial | 397 | (215 | ) | 182 | 0 | 166 | 196 | ||||||||||||||||||||||||||
Consumer | 19 | (12 | ) | 7 | 0 | 7 | 23 | ||||||||||||||||||||||||||
Other | 32 | (20 | ) | 12 | 0 | 8 | 8 | ||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 8,862 | (2,486 | ) | 6,376 | 0 | 9,578 | 7,403 | ||||||||||||||||||||||||||
Total impaired loans and leases | $ | 15,542 | $ | (6,165 | ) | $ | 9,377 | $ | 1,303 | $ | 12,234 | $ | 10,205 | ||||||||||||||||||||
Management has determined that certain of the Company’s impaired non-purchased loans and leases do not require any specific allowance at September 30, 2014 and 2013 or at December 31, 2013 because (i) management’s analysis of such individual loans and leases resulted in no impairment or (ii) all identified impairment on such loans and leases has previously been charged off. | |||||||||||||||||||||||||||||||||
Interest income on impaired non-purchased loans and leases is recognized on a cash basis when and if actually collected. Total interest income recognized on impaired non-purchased loans and leases for the three months and nine months ended September 30, 2014 and 2013 and for the year ended December 31, 2013 was not material. | |||||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
Non-Purchased Loans and Leases | |||||||||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s non-purchased loans and leases as of the dates indicated. | |||||||||||||||||||||||||||||||||
Satisfactory | Moderate | Watch | Substandard | Total | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family (1) | $ | 268,707 | $ | 0 | $ | 3,797 | $ | 5,837 | $ | 278,341 | |||||||||||||||||||||||
Non-farm/non-residential | 1,170,334 | 141,395 | 54,078 | 7,487 | 1,373,294 | ||||||||||||||||||||||||||||
Construction/land development | 1,016,496 | 186,496 | 16,979 | 13,282 | 1,233,253 | ||||||||||||||||||||||||||||
Agricultural | 24,335 | 10,202 | 10,062 | 2,122 | 46,721 | ||||||||||||||||||||||||||||
Multifamily residential | 119,765 | 35,039 | 382 | 754 | 155,940 | ||||||||||||||||||||||||||||
Commercial and industrial | 267,178 | 43,286 | 1,347 | 1,481 | 313,292 | ||||||||||||||||||||||||||||
Consumer (1) | 24,879 | 0 | 263 | 257 | 25,399 | ||||||||||||||||||||||||||||
Direct financing leases | 108,126 | 829 | 32 | 72 | 109,059 | ||||||||||||||||||||||||||||
Other (1) | 99,786 | 3,853 | 180 | 24 | 103,843 | ||||||||||||||||||||||||||||
Total | $ | 3,099,606 | $ | 421,100 | $ | 87,120 | $ | 31,316 | $ | 3,639,142 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family (1) | $ | 239,940 | $ | 0 | $ | 3,140 | $ | 6,476 | $ | 249,556 | |||||||||||||||||||||||
Non-farm/non-residential | 916,304 | 128,624 | 52,388 | 6,798 | 1,104,114 | ||||||||||||||||||||||||||||
Construction/land development | 550,436 | 144,435 | 23,574 | 4,112 | 722,557 | ||||||||||||||||||||||||||||
Agricultural | 21,647 | 11,098 | 9,788 | 2,663 | 45,196 | ||||||||||||||||||||||||||||
Multifamily residential | 177,144 | 30,029 | 391 | 773 | 208,337 | ||||||||||||||||||||||||||||
Commercial and industrial | 87,568 | 33,071 | 1,664 | 1,765 | 124,068 | ||||||||||||||||||||||||||||
Consumer (1) | 25,574 | 0 | 230 | 378 | 26,182 | ||||||||||||||||||||||||||||
Direct financing leases | 85,363 | 955 | 0 | 3 | 86,321 | ||||||||||||||||||||||||||||
Other (1) | 63,799 | 2,237 | 119 | 79 | 66,234 | ||||||||||||||||||||||||||||
Total | $ | 2,167,775 | $ | 350,449 | $ | 91,294 | $ | 23,047 | $ | 2,632,565 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family(1) | $ | 242,202 | $ | 0 | $ | 1,438 | $ | 7,386 | $ | 251,026 | |||||||||||||||||||||||
Non-farm/non-residential | 839,345 | 134,754 | 51,589 | 9,930 | 1,035,618 | ||||||||||||||||||||||||||||
Construction/land development | 544,324 | 136,270 | 29,122 | 4,482 | 714,198 | ||||||||||||||||||||||||||||
Agricultural | 23,926 | 11,688 | 9,317 | 3,022 | 47,953 | ||||||||||||||||||||||||||||
Multifamily residential | 132,722 | 29,716 | 394 | 1,084 | 163,916 | ||||||||||||||||||||||||||||
Commercial and industrial | 91,913 | 26,843 | 1,210 | 2,197 | 122,163 | ||||||||||||||||||||||||||||
Consumer(1) | 26,763 | 0 | 172 | 363 | 27,298 | ||||||||||||||||||||||||||||
Direct financing leases | 80,967 | 992 | 0 | 25 | 81,984 | ||||||||||||||||||||||||||||
Other(1) | 74,221 | 4,005 | 132 | 75 | 78,433 | ||||||||||||||||||||||||||||
Total | $ | 2,056,383 | $ | 344,268 | $ | 93,374 | $ | 28,564 | $ | 2,522,589 | |||||||||||||||||||||||
-1 | The Company does not risk rate its residential 1-4 family loans, its consumer loans, and certain “other” loans. However, for purposes of the above table, the Company considers such loans to be (i) satisfactory – if they are performing and less than 30 days past due, (ii) watch – if they are performing and 30 to 89 days past due or (iii) substandard – if they are nonperforming or 90 days or more past due. | ||||||||||||||||||||||||||||||||
The following categories of credit quality indicators are used by the Company. | |||||||||||||||||||||||||||||||||
Satisfactory – Loans and leases in this category are considered to be a satisfactory credit risk and are generally considered to be collectible in full. | |||||||||||||||||||||||||||||||||
Moderate – Loans and leases in this category are considered to be a marginally satisfactory credit risk and are generally considered to be collectible in full. | |||||||||||||||||||||||||||||||||
Watch – Loans and leases in this category are presently protected from apparent loss; however, weaknesses exist which could cause future impairment of repayment of principal or interest. | |||||||||||||||||||||||||||||||||
Substandard – Loans and leases in this category are characterized by deterioration in quality exhibited by a number of weaknesses requiring corrective action and posing risk of some loss. | |||||||||||||||||||||||||||||||||
The following table is an aging analysis of past due non-purchased loans and leases as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current (3) | Total | |||||||||||||||||||||||||||||
Past Due (1) | or More (2) | Past Due | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,203 | $ | 1,230 | $ | 5,433 | $ | 272,908 | $ | 278,341 | |||||||||||||||||||||||
Non-farm/non-residential | 879 | 1,432 | 2,311 | 1,370,983 | 1,373,294 | ||||||||||||||||||||||||||||
Construction/land development | 1,854 | 10,017 | 11,871 | 1,221,382 | 1,233,253 | ||||||||||||||||||||||||||||
Agricultural | 1,574 | 192 | 1,766 | 44,955 | 46,721 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 0 | 0 | 155,940 | 155,940 | ||||||||||||||||||||||||||||
Commercial and industrial | 813 | 28 | 841 | 312,451 | 313,292 | ||||||||||||||||||||||||||||
Consumer | 295 | 35 | 330 | 25,069 | 25,399 | ||||||||||||||||||||||||||||
Direct financing leases | 0 | 0 | 0 | 109,059 | 109,059 | ||||||||||||||||||||||||||||
Other | 12 | 0 | 12 | 103,831 | 103,843 | ||||||||||||||||||||||||||||
Total | $ | 9,630 | $ | 12,934 | $ | 22,564 | $ | 3,616,578 | $ | 3,639,142 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,228 | $ | 2,004 | $ | 6,232 | $ | 243,324 | $ | 249,556 | |||||||||||||||||||||||
Non-farm/non-residential | 2,093 | 1,867 | 3,960 | 1,100,154 | 1,104,114 | ||||||||||||||||||||||||||||
Construction/land development | 235 | 153 | 388 | 722,169 | 722,557 | ||||||||||||||||||||||||||||
Agricultural | 517 | 540 | 1,057 | 44,139 | 45,196 | ||||||||||||||||||||||||||||
Multifamily residential | 773 | 0 | 773 | 207,564 | 208,337 | ||||||||||||||||||||||||||||
Commercial and industrial | 418 | 31 | 449 | 123,619 | 124,068 | ||||||||||||||||||||||||||||
Consumer | 261 | 78 | 339 | 25,843 | 26,182 | ||||||||||||||||||||||||||||
Direct financing leases | 0 | 0 | 0 | 86,321 | 86,321 | ||||||||||||||||||||||||||||
Other | 18 | 24 | 42 | 66,192 | 66,234 | ||||||||||||||||||||||||||||
Total | $ | 8,543 | $ | 4,697 | $ | 13,240 | $ | 2,619,325 | $ | 2,632,565 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 1,661 | $ | 2,376 | $ | 4,037 | $ | 246,989 | $ | 251,026 | |||||||||||||||||||||||
Non-farm/non-residential | 2,321 | 3,312 | 5,633 | 1,029,985 | 1,035,618 | ||||||||||||||||||||||||||||
Construction/land development | 1,662 | 136 | 1,798 | 712,400 | 714,198 | ||||||||||||||||||||||||||||
Agricultural | 322 | 571 | 893 | 47,060 | 47,953 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 310 | 310 | 163,606 | 163,916 | ||||||||||||||||||||||||||||
Commercial and industrial | 349 | 131 | 480 | 121,683 | 122,163 | ||||||||||||||||||||||||||||
Consumer | 177 | 66 | 243 | 27,055 | 27,298 | ||||||||||||||||||||||||||||
Direct financing leases | 111 | 25 | 136 | 81,848 | 81,984 | ||||||||||||||||||||||||||||
Other | 17 | 0 | 17 | 78,416 | 78,433 | ||||||||||||||||||||||||||||
Total | $ | 6,620 | $ | 6,927 | $ | 13,547 | $ | 2,509,042 | $ | 2,522,589 | |||||||||||||||||||||||
-1 | Includes $0.9 million, $0.8 million and $0.4 million of loans and leases on nonaccrual status at September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
-2 | All loans and leases greater than 90 days past due were on nonaccrual status at September 30, 2014 and 2013 and December 31, 2013. | ||||||||||||||||||||||||||||||||
-3 | Includes $3.9 million, $3.2 million and $3.1 million of loans and leases on nonaccrual status at September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
Covered Loans | |||||||||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
FV 1 | FV 2 | Total | |||||||||||||||||||||||||||||||
Covered | |||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 86,067 | $ | 2,208 | $ | 88,275 | |||||||||||||||||||||||||||
Non-farm/non-residential | 107,046 | 6,587 | 113,633 | ||||||||||||||||||||||||||||||
Construction/land development | 23,970 | 3,648 | 27,618 | ||||||||||||||||||||||||||||||
Agricultural | 9,539 | 338 | 9,877 | ||||||||||||||||||||||||||||||
Multifamily residential | 3,513 | 315 | 3,828 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4,819 | 535 | 5,354 | ||||||||||||||||||||||||||||||
Consumer | 61 | 3 | 64 | ||||||||||||||||||||||||||||||
Other | 153 | 0 | 153 | ||||||||||||||||||||||||||||||
Total | $ | 235,168 | $ | 13,634 | $ | 248,802 | |||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 105,218 | $ | 5,835 | $ | 111,053 | |||||||||||||||||||||||||||
Non-farm/non-residential | 138,573 | 25,135 | 163,708 | ||||||||||||||||||||||||||||||
Construction/land development | 33,475 | 14,267 | 47,742 | ||||||||||||||||||||||||||||||
Agricultural | 10,807 | 343 | 11,150 | ||||||||||||||||||||||||||||||
Multifamily residential | 8,709 | 457 | 9,166 | ||||||||||||||||||||||||||||||
Commercial and industrial | 8,582 | 137 | 8,719 | ||||||||||||||||||||||||||||||
Consumer | 106 | 5 | 111 | ||||||||||||||||||||||||||||||
Other | 142 | 0 | 142 | ||||||||||||||||||||||||||||||
Total | $ | 305,612 | $ | 46,179 | $ | 351,791 | |||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 114,163 | $ | 6,378 | $ | 120,541 | |||||||||||||||||||||||||||
Non-farm/non-residential | 171,886 | 25,566 | 197,452 | ||||||||||||||||||||||||||||||
Construction/land development | 40,172 | 19,215 | 59,387 | ||||||||||||||||||||||||||||||
Agricultural | 11,203 | 1,138 | 12,341 | ||||||||||||||||||||||||||||||
Multifamily residential | 9,153 | 215 | 9,368 | ||||||||||||||||||||||||||||||
Commercial and industrial | 9,877 | 57 | 9,934 | ||||||||||||||||||||||||||||||
Consumer | 132 | 6 | 138 | ||||||||||||||||||||||||||||||
Other | 158 | 0 | 158 | ||||||||||||||||||||||||||||||
Total | $ | 356,744 | $ | 52,575 | $ | 409,319 | |||||||||||||||||||||||||||
For covered loans, management separately monitors this portfolio and periodically reviews loans contained within this portfolio against the factors and assumptions used in determining the Day 1 Fair Values. To the extent that a loan is performing in accordance with or exceeding management’s expectation established in conjunction with the determination of the Day 1 Fair Values, such loan is rated FV 1. For any loan that is exceeding management’s performance expectation established in conjunction with the determination of Day 1 Fair Values, the accretable yield on such loan is adjusted to reflect such increased performance. To the extent that a loan’s performance has deteriorated from management’s expectation established in conjunction with the determination of the Day 1 Fair Values, such loan is rated FV 2. At September 30, 2014 and 2013 and December 31, 2013, the Company had no allowance for its covered loans because all losses had been charged off on covered loans whose performance had deteriorated from management’s expectations established in conjunction with the determination of the Day 1 Fair Values. | |||||||||||||||||||||||||||||||||
The following table is an aging analysis of past due covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current | Total | |||||||||||||||||||||||||||||
Past Due | or More | Past Due | Covered | ||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,075 | $ | 7,298 | $ | 10,373 | $ | 77,902 | $ | 88,275 | |||||||||||||||||||||||
Non-farm/non-residential | 3,481 | 8,112 | 11,593 | 102,040 | 113,633 | ||||||||||||||||||||||||||||
Construction/land development | 922 | 5,008 | 5,930 | 21,688 | 27,618 | ||||||||||||||||||||||||||||
Agricultural | 0 | 1,652 | 1,652 | 8,225 | 9,877 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 0 | 0 | 3,828 | 3,828 | ||||||||||||||||||||||||||||
Commercial and industrial | 9 | 603 | 612 | 4,742 | 5,354 | ||||||||||||||||||||||||||||
Consumer | 10 | 0 | 10 | 54 | 64 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 153 | 153 | ||||||||||||||||||||||||||||
Total | $ | 7,497 | $ | 22,673 | $ | 30,170 | $ | 218,632 | $ | 248,802 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 5,341 | $ | 12,409 | $ | 17,750 | $ | 93,303 | $ | 111,053 | |||||||||||||||||||||||
Non-farm/non-residential | 6,954 | 32,462 | 39,416 | 124,292 | 163,708 | ||||||||||||||||||||||||||||
Construction/land development | 2,173 | 20,914 | 23,087 | 24,655 | 47,742 | ||||||||||||||||||||||||||||
Agricultural | 237 | 1,328 | 1,565 | 9,585 | 11,150 | ||||||||||||||||||||||||||||
Multifamily residential | 375 | 3,240 | 3,615 | 5,551 | 9,166 | ||||||||||||||||||||||||||||
Commercial and industrial | 605 | 2,001 | 2,606 | 6,113 | 8,719 | ||||||||||||||||||||||||||||
Consumer | 10 | 0 | 10 | 101 | 111 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 142 | 142 | ||||||||||||||||||||||||||||
Total | $ | 15,695 | $ | 72,354 | $ | 88,049 | $ | 263,742 | $ | 351,791 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,260 | $ | 13,658 | $ | 19,918 | $ | 100,623 | $ | 120,541 | |||||||||||||||||||||||
Non-farm/non-residential | 8,557 | 39,841 | 48,398 | 149,054 | 197,452 | ||||||||||||||||||||||||||||
Construction/land development | 848 | 27,584 | 28,432 | 30,955 | 59,387 | ||||||||||||||||||||||||||||
Agricultural | 1,234 | 1,250 | 2,484 | 9,857 | 12,341 | ||||||||||||||||||||||||||||
Multifamily residential | 195 | 3,689 | 3,884 | 5,484 | 9,368 | ||||||||||||||||||||||||||||
Commercial and industrial | 27 | 2,961 | 2,988 | 6,946 | 9,934 | ||||||||||||||||||||||||||||
Consumer | 0 | 2 | 2 | 136 | 138 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 158 | 158 | ||||||||||||||||||||||||||||
Total | $ | 17,121 | $ | 88,985 | $ | 106,106 | $ | 303,213 | $ | 409,319 | |||||||||||||||||||||||
At September 30, 2014 and 2013 and December 31, 2013, significant portions of the Company’s covered loans were contractually past due, including many that were 90 days or more past due. However, the elevated level of delinquencies of covered loans at the dates of acquisition was considered in the Company’s performance expectations used in its determination of the Day 1 Fair Values for all covered loans. Accordingly, all covered loans continue to accrete interest income and all covered loans rated FV 1 continue to perform in accordance with or better than management’s expectations established in conjunction with the determination of the Day 1 Fair Values. | |||||||||||||||||||||||||||||||||
Purchased Non-Covered Loans | |||||||||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s purchased non-covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
Purchased Non-Covered Loans Without | Purchased Non-Covered | Total | |||||||||||||||||||||||||||||||
Evidence of Credit Deterioration at Acquisition | Loans With Evidence of | Purchased | |||||||||||||||||||||||||||||||
Credit Deterioration at | Non-Covered | ||||||||||||||||||||||||||||||||
Acquisition | |||||||||||||||||||||||||||||||||
FV 33 | FV 44 | FV 55 | FV 36 | FV 77 | FV 66 | FV 88 | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 74,617 | $ | 81,344 | $ | 30,058 | $ | 75,815 | $ | 143 | $ | 17,236 | $ | 60 | $ | 279,273 | |||||||||||||||||
Non-farm/non-residential | 200,653 | 194,295 | 32,819 | 3,283 | 505 | 30,742 | 87 | 462,384 | |||||||||||||||||||||||||
Construction/land development | 28,857 | 33,070 | 9,607 | 13,783 | 9 | 9,011 | 0 | 94,337 | |||||||||||||||||||||||||
Agricultural | 12,510 | 26,723 | 3,053 | 1,933 | 0 | 189 | 0 | 44,408 | |||||||||||||||||||||||||
Multifamily residential | 9,877 | 13,019 | 7,226 | 940 | 72 | 2,764 | 781 | 34,679 | |||||||||||||||||||||||||
Total real estate | 326,514 | 348,451 | 82,763 | 95,754 | 729 | 59,942 | 928 | 915,081 | |||||||||||||||||||||||||
Commercial and industrial | 23,424 | 27,645 | 7,282 | 13,284 | 0 | 5,066 | 0 | 76,701 | |||||||||||||||||||||||||
Consumer | 2,498 | 884 | 627 | 16,023 | 0 | 429 | 0 | 20,461 | |||||||||||||||||||||||||
Other | 5,105 | 8,369 | 735 | 3,776 | 0 | 760 | 0 | 18,745 | |||||||||||||||||||||||||
Total | $ | 357,541 | $ | 385,349 | $ | 91,407 | $ | 128,837 | $ | 729 | $ | 66,197 | $ | 928 | $ | 1,030,988 | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 27,111 | $ | 32,259 | $ | 21,035 | $ | 35,733 | $ | 0 | $ | 14,947 | $ | 0 | $ | 131,085 | |||||||||||||||||
Non-farm/non-residential | 42,193 | 72,621 | 20,685 | 1,191 | 0 | 16,258 | 0 | 152,948 | |||||||||||||||||||||||||
Construction/land development | 5,930 | 8,106 | 2,137 | 4,553 | 0 | 4,907 | 0 | 25,633 | |||||||||||||||||||||||||
Agricultural | 1,547 | 6,619 | 823 | 164 | 0 | 365 | 0 | 9,518 | |||||||||||||||||||||||||
Multifamily residential | 3,531 | 5,565 | 5,268 | 959 | 0 | 1,887 | 0 | 17,210 | |||||||||||||||||||||||||
Total real estate | 80,312 | 125,170 | 49,948 | 42,600 | 0 | 38,364 | 0 | 336,394 | |||||||||||||||||||||||||
Commercial and industrial | 9,592 | 9,730 | 2,250 | 1,879 | 0 | 1,483 | 0 | 24,934 | |||||||||||||||||||||||||
Consumer | 1,013 | 141 | 171 | 4,794 | 0 | 736 | 0 | 6,855 | |||||||||||||||||||||||||
Other | 1,202 | 2,897 | 157 | 237 | 0 | 47 | 0 | 4,540 | |||||||||||||||||||||||||
Total | $ | 92,119 | $ | 137,938 | $ | 52,526 | $ | 49,510 | $ | 0 | $ | 40,630 | $ | 0 | $ | 372,723 | |||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 28,486 | $ | 34,113 | $ | 21,592 | $ | 36,221 | $ | 0 | $ | 16,311 | $ | 0 | $ | 136,723 | |||||||||||||||||
Non-farm/non-residential | 46,201 | 71,637 | 25,591 | 3,509 | 0 | 16,786 | 0 | 163,724 | |||||||||||||||||||||||||
Construction/land development | 5,973 | 8,578 | 2,495 | 4,680 | 0 | 5,052 | 0 | 26,778 | |||||||||||||||||||||||||
Agricultural | 2,109 | 6,705 | 851 | 173 | 0 | 242 | 0 | 10,080 | |||||||||||||||||||||||||
Multifamily residential | 3,621 | 5,662 | 5,322 | 978 | 0 | 2,419 | 0 | 18,002 | |||||||||||||||||||||||||
Total real estate | 86,390 | 126,695 | 55,851 | 45,561 | 0 | 40,810 | 0 | 355,307 | |||||||||||||||||||||||||
Commercial and industrial | 10,684 | 10,793 | 3,150 | 4,004 | 0 | 1,598 | 0 | 30,229 | |||||||||||||||||||||||||
Consumer | 1,980 | 147 | 181 | 5,990 | 0 | 878 | 0 | 9,176 | |||||||||||||||||||||||||
Other | 1,333 | 2,323 | 163 | 329 | 0 | 198 | 0 | 4,346 | |||||||||||||||||||||||||
Total | $ | 100,387 | $ | 139,958 | $ | 59,345 | $ | 55,884 | $ | 0 | $ | 43,484 | $ | 0 | $ | 399,058 | |||||||||||||||||
The following grades are used for purchased non-covered loans without evidence of credit deterioration at the date of acquisition. | |||||||||||||||||||||||||||||||||
FV 33 – Loans in this category are considered to be satisfactory with minimal credit risk and are generally considered collectible. | |||||||||||||||||||||||||||||||||
FV 44 – Loans in this category are considered to be marginally satisfactory with minimal to moderate credit risk and are generally considered collectible. | |||||||||||||||||||||||||||||||||
FV 55 – Loans in this category exhibit weakness and are considered to have elevated credit risk and elevated risk of repayment. | |||||||||||||||||||||||||||||||||
FV 36 – Loans in this category were not individually reviewed at the date of purchase and are assumed to have characteristics similar to the characteristics of the aggregate acquired portfolio. | |||||||||||||||||||||||||||||||||
FV 77 – Loans in this category have deteriorated since the date of purchase and are considered impaired. | |||||||||||||||||||||||||||||||||
The following grades are used for purchased non-covered loans with evidence of credit deterioration at the date of acquisition. | |||||||||||||||||||||||||||||||||
FV 66 – Loans in this category are performing in accordance with or exceeding management’s performance expectations established in conjunction with the determination of Day 1 Fair Values. | |||||||||||||||||||||||||||||||||
FV 88 – Loans in this category have deteriorated from management’s performance expectations established in conjunction with the determination of Day 1 Fair Values. | |||||||||||||||||||||||||||||||||
The Company had no allowance for its purchased non-covered loans at September 30, 2014 and 2013 or December 31, 2013 as (i) all such loans were performing in accordance with management’s expectations established in conjunction with the determination of the Day 1 Fair Values or (ii) all losses on purchased non-covered loans whose performance had deteriorated from management’s expectations established in conjunction with the deterioration of the Day 1 Fair Values had been charged off. | |||||||||||||||||||||||||||||||||
The following table is an aging analysis of past due purchased non-covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current | Total | |||||||||||||||||||||||||||||
Past Due | or More | Past Due | Purchased | ||||||||||||||||||||||||||||||
Non-Covered | |||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,026 | $ | 6,220 | $ | 12,246 | $ | 267,027 | $ | 279,273 | |||||||||||||||||||||||
Non-farm/non-residential | 1,706 | 9,449 | 11,155 | 451,229 | 462,384 | ||||||||||||||||||||||||||||
Construction/land development | 855 | 1,476 | 2,331 | 92,006 | 94,337 | ||||||||||||||||||||||||||||
Agriculture | 211 | 146 | 357 | 44,051 | 44,408 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 1,228 | 1,228 | 33,451 | 34,679 | ||||||||||||||||||||||||||||
Commercial and industrial | 791 | 269 | 1,060 | 75,641 | 76,701 | ||||||||||||||||||||||||||||
Consumer | 196 | 159 | 355 | 20,106 | 20,461 | ||||||||||||||||||||||||||||
Other | 73 | 31 | 104 | 18,641 | 18,745 | ||||||||||||||||||||||||||||
Total | $ | 9,858 | $ | 18,978 | $ | 28,836 | $ | 1,002,152 | $ | 1,030,988 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,615 | $ | 4,703 | $ | 11,318 | $ | 119,767 | $ | 131,085 | |||||||||||||||||||||||
Non-farm/non-residential | 4,886 | 5,779 | 10,665 | 142,283 | 152,948 | ||||||||||||||||||||||||||||
Construction/land development | 265 | 4,045 | 4,310 | 21,323 | 25,633 | ||||||||||||||||||||||||||||
Agriculture | 134 | 25 | 159 | 9,359 | 9,518 | ||||||||||||||||||||||||||||
Multifamily residential | 421 | 1,225 | 1,646 | 15,564 | 17,210 | ||||||||||||||||||||||||||||
Commercial and industrial | 614 | 388 | 1,002 | 23,932 | 24,934 | ||||||||||||||||||||||||||||
Consumer | 411 | 237 | 648 | 6,207 | 6,855 | ||||||||||||||||||||||||||||
Other | 0 | 33 | 33 | 4,507 | 4,540 | ||||||||||||||||||||||||||||
Total | $ | 13,346 | $ | 16,435 | $ | 29,781 | $ | 342,942 | $ | 372,723 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,026 | $ | 3,647 | $ | 7,673 | $ | 129,050 | $ | 136,723 | |||||||||||||||||||||||
Non-farm/non-residential | 3,319 | 4,136 | 7,455 | 156,269 | 163,724 | ||||||||||||||||||||||||||||
Construction/land development | 4,601 | 7,367 | 11,968 | 14,810 | 26,778 | ||||||||||||||||||||||||||||
Agriculture | 0 | 101 | 101 | 9,979 | 10,080 | ||||||||||||||||||||||||||||
Multifamily residential | 177 | 1,326 | 1,503 | 16,499 | 18,002 | ||||||||||||||||||||||||||||
Commercial and industrial | 357 | 535 | 892 | 29,337 | 30,229 | ||||||||||||||||||||||||||||
Consumer | 310 | 223 | 533 | 8,643 | 9,176 | ||||||||||||||||||||||||||||
Other | 38 | 182 | 220 | 4,126 | 4,346 | ||||||||||||||||||||||||||||
Total | $ | 12,828 | $ | 17,517 | $ | 30,345 | $ | 368,713 | $ | 399,058 | |||||||||||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
7 | Income Taxes | ||||||||||||
The following table is a summary of the types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities and their approximate tax effects as of the dates indicated. | |||||||||||||
September 30, | December 31, | ||||||||||||
2014 | 2013 | 2013 | |||||||||||
(Dollars in thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan and lease losses | $ | 19,052 | $ | 16,080 | $ | 16,576 | |||||||
Differences in amounts reflected in financial statements and income tax basis of purchased non-covered loans | 24,769 | 19,563 | 17,167 | ||||||||||
Stock-based compensation | 3,811 | 2,724 | 2,400 | ||||||||||
Deferred compensation | 1,962 | 1,792 | 1,775 | ||||||||||
Foreclosed assets | 5,195 | 3,318 | 3,165 | ||||||||||
Investment securities AFS | 0 | 3,116 | 5,056 | ||||||||||
Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in FDIC-assisted acquisitions | 8,708 | 607 | 3,424 | ||||||||||
Acquired net operating losses | 13,976 | 7,905 | 7,509 | ||||||||||
Other, net | 7,310 | 1,950 | 3,858 | ||||||||||
Total gross deferred tax assets | 84,783 | 57,055 | 60,930 | ||||||||||
Less valuation allowance | (474 | ) | 0 | 0 | |||||||||
Net deferred tax asset | 84,309 | 57,055 | 60,930 | ||||||||||
Deferred tax liabilities: | |||||||||||||
Accelerated depreciation on premises and equipment | 17,933 | 16,952 | 17,459 | ||||||||||
Investment securities AFS | 5,499 | 0 | 0 | ||||||||||
Acquired intangible assets | 10,466 | 4,390 | 4,227 | ||||||||||
Total gross deferred tax liabilities | 33,898 | 21,342 | 21,686 | ||||||||||
Net deferred tax assets (liabilities) | $ | 50,411 | $ | 35,713 | $ | 39,244 | |||||||
Net operating losses were acquired from the First National Bank, Bancshares and Summit transactions. The net operating losses acquired from the First National Bank transaction totaled $20.0 million, of which $12.5 million will expire in 2032 and $7.5 million will expire in 2033. The net operating losses acquired from the Bancshares transaction totaled $16.4 million, which will expire at various dates from 2030 through 2034. The net operating losses acquired from the Summit transaction totaled $6.5 million and will expire in 2019. | |||||||||||||
As a result of recording, at fair value, acquired assets and assumed liabilities pursuant to business combinations, differences in amounts reported for financial statement purposes and their related basis for federal and state income tax purposes are created. Such differences are recorded as deferred tax assets and liabilities using enacted tax rates in effect for the year or years in which the differences are expected to be recovered or settled. Business combination transactions may result in the acquisition of net operating loss carryforwards and other assets with built-in losses, the realization of which are subject to section 382 limitations. In determining the section 382 limitation associated with a business combination, management must make a number of estimates and assumptions regarding the ability to utilize acquired net operating loss carryforwards and the expected timing of future recoveries or settlements of acquired assets with built-in losses. To the extent that information available as of the date of acquisition results in a determination by management that some portion of net operating loss carryforwards cannot be utilized or assets with built-in losses are expected to be settled or recovered in future periods in which the ability to realize the benefits will be subject to section 382 limitations, a deferred tax asset valuation allowance is established for the estimated amount of the deferred tax assets subject to the section 382 limitation. To the extent that information becomes available, during the first 12 months following the consummation of a business combination transaction, that results in changes in management’s initial estimates and assumptions regarding the expected utilization of net operating loss carryforwards or the expected settlement or recovery of acquired assets with built-in losses subject to section 382 limitations, an increase or decrease of the deferred tax asset valuation allowance will be recorded as an adjustment to bargain purchase gain or goodwill. To the extent that such information becomes available 12 months or more after the consummation of a business combination transaction, or additional information becomes available during the first 12 months as a result of changes in circumstances since the date of the consummation of a business combination transaction, an increase or decrease of the deferred tax asset valuation allowance will be recorded as an adjustment to deferred income tax expense (benefit). | |||||||||||||
In connection with the acquisitions of First National Bank and Bancshares, management determined that net operating loss carryforwards and other assets with built-in losses are expected to be settled or otherwise recovered in future periods where the realization of such benefits would be subject to section 382 limitations. Accordingly, the Company had established a deferred tax asset valuation allowance of $4.1 million on the date of acquisition of First National Bank and $0.5 million on the date of acquisition of Bancshares, to reflect its initial assessment that the realization of the benefits from the settlement or recovery of certain of these acquired assets and net operating losses is expected to be subject to section 382 limitations. | |||||||||||||
As disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, the fair value adjustments and the resultant fair values for the First National Bank acquisition continued to be evaluated by management and could be subject to further adjustment. During the second quarter of 2014, management revised its initial estimates and assumptions regarding the expected recovery of acquired assets with built-in losses, specifically the timing of expected charge-offs of purchased non-covered loans, in the First National Bank acquisition. As a result of such revision, management concluded that the deferred tax asset valuation allowance of $4.1 million was not necessary. Because such revision occurred during the first 12 months following the date of acquisition and was not the result of changes in circumstances, management has recast the third quarter 2013 financial statements, along with all subsequent financial statements, to reflect this change in estimate. | |||||||||||||
To the extent that additional information becomes available regarding the settlement or recovery of acquired net operating loss carryforwards or assets with built-in losses acquired in each of its acquisitions, management may be required to make adjustments to its deferred tax asset valuation allowance, which adjustments could affect bargain purchase gain, goodwill or deferred income tax expense (benefit). |
Supplemental_Data_for_Cash_Flo
Supplemental Data for Cash Flows | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Supplemental Data for Cash Flows | ' | ||||||||
8 | Supplemental Data for Cash Flows | ||||||||
The following table provides supplemental cash flow information for the periods indicated. | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
(Dollars in thousands) | |||||||||
Cash paid during the period for: | |||||||||
Interest | $ | 15,450 | $ | 14,038 | |||||
Taxes | 30,834 | 35,515 | |||||||
Supplemental schedule of non-cash investing and financing activities: | |||||||||
Net change in unrealized gains/losses on investment securities AFS | 23,687 | (18,488 | ) | ||||||
Loans and other assets transferred to foreclosed assets not covered by FDIC loss share agreements | 9,112 | 4,497 | |||||||
Loans advanced for sales of foreclosed assets not covered by FDIC loss share agreements | 258 | 2,942 | |||||||
Covered loans transferred to covered foreclosed assets | 30,754 | 24,306 | |||||||
Unsettled AFS investment security purchases | 0 | 730 | |||||||
Common stock issued in merger and acquisition transactions | 166,402 | 60,079 |
Guarantees_and_Commitments
Guarantees and Commitments | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Guarantees and Commitments | ' | ||||
9 | Guarantees and Commitments | ||||
Outstanding standby letters of credit are contingent commitments issued by the Company generally to guarantee the performance of a customer in third party arrangements. The maximum amount of future payments the Company could be required to make under these guarantees at September 30, 2014 was $9.3 million. The Company holds collateral to support guarantees when deemed necessary. Collateralized commitments at September 30, 2014 totaled $9.1 million. | |||||
At September 30, 2014 the Company had outstanding commitments to extend credit, excluding mortgage interest rate lock commitments, totaling $2.58 billion. While many of these commitments are expected to be disbursed within the next 12 months, the following table shows the contractual maturities of outstanding commitments to extend credit as of the date indicated. | |||||
Contractual Maturities at September 30, 2014 | |||||
Maturity | Amount | ||||
(Dollars in thousands) | |||||
2014 | $ | 89,808 | |||
2015 | 209,595 | ||||
2016 | 492,517 | ||||
2017 | 1,259,690 | ||||
2018 | 485,222 | ||||
Thereafter | 47,613 | ||||
Total | $ | 2,584,445 | |||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
10 | Stock-Based Compensation | ||||||||||||||||
The Company has a nonqualified stock option plan for certain employees of the Company. This plan provides for the granting of nonqualified options to purchase shares of common stock in the Company. No option may be granted under this plan for less than the fair market value of the common stock, defined by the plan as the average of the highest reported asked price and the lowest reported bid price, on the date of the grant. The benefits or amounts that may be received by or allocated to any particular officer or employee of the Company under this plan will be determined in the sole discretion of the Company’s board of directors or its personnel and compensation committee. While the vesting period and the termination date for the employee plan options are determined when options are granted, all such employee options outstanding at September 30, 2014 were issued with a vesting date three years after issuance and an expiration date seven years after issuance. | |||||||||||||||||
The Company also has a nonqualified stock option plan for non-employee directors. This plan permits each director who is not otherwise an employee of the Company, or any subsidiary, to receive options to purchase 2,000 shares of the Company’s common stock on the day following his or her election as a director of the Company at each annual meeting of stockholders and up to 2,000 shares upon election or appointment for the first time as a director of the Company. No option may be granted under this plan for less than the fair market value of the common stock, defined by the plan as the average of the highest reported asked price and the lowest reported bid price, on the date of the grant. These options are exercisable immediately and expire ten years after issuance. | |||||||||||||||||
All shares issued in connection with options exercised under both the employee and non-employee director stock option plans are in the form of newly issued shares. | |||||||||||||||||
The following table summarizes stock option activity for both the employee and non-employee director stock option plans for the period indicated. | |||||||||||||||||
Options | Weighted- | Weighted-Average | Aggregate | ||||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise | Contractual Life | Value | |||||||||||||||
Price/Share | (in years) | (in thousands) | |||||||||||||||
Nine Months Ended September 30, 2014: | |||||||||||||||||
Outstanding – January 1, 2014 | 1,766,600 | $ | 15.84 | ||||||||||||||
Granted | 52,000 | 29.05 | |||||||||||||||
Exercised | (228,600 | ) | 9.05 | ||||||||||||||
Forfeited | (48,800 | ) | 18.36 | ||||||||||||||
Outstanding – September 30, 2014 | 1,541,200 | 17.21 | 5.2 | $ | 22,058 | (1) | |||||||||||
Fully vested and exercisable – September 30, 2014 | 305,600 | 13.65 | 5.2 | $ | 5,460 | (1) | |||||||||||
Expected to vest in future periods | 989,280 | ||||||||||||||||
Fully vested and expected to vest – September 30, 2014(2) | 1,294,880 | 17.04 | 5.2 | $ | 18,744 | (1) | |||||||||||
-1 | Based on closing price of $31.52 per share on September 30, 2014. | ||||||||||||||||
-2 | At September 30, 2014 the Company estimated that outstanding options to purchase 246,320 shares of its common stock would not vest and would be forfeited prior to their vesting date. | ||||||||||||||||
Intrinsic value for stock options is defined as the amount by which the current market price of the underlying stock exceeds the exercise price. For those stock options where the exercise price exceeds the current market price of the underlying stock, the intrinsic value is zero. The total intrinsic value of options exercised during the nine months ended September 30, 2014 and 2013 was $5.0 million and $4.7 million, respectively. | |||||||||||||||||
Options to purchase 52,000 split-adjusted shares and 48,000 split-adjusted shares of the Company’s stock were issued during the nine months ended September 30, 2014 and 2013, respectively. Stock-based compensation expense for stock options included in non-interest expense was $0.4 million for both of the quarters ended September 30, 2014 and 2013 and $1.6 million and $1.3 million for the nine months ended September 30, 2014 and 2013, respectively. Total unrecognized compensation cost related to non-vested stock option grants was $2.2 million at September 30, 2014 and is expected to be recognized over a weighted-average period of 1.8 years. | |||||||||||||||||
The Company has a restricted stock plan that permits issuance of up to 1,600,000 shares of restricted stock or restricted stock units. All officers and employees of the Company are eligible to receive awards under the restricted stock plan. The benefits or amounts that may be received by or allocated to any particular officer or employee of the Company under the restricted stock plan will be determined in the sole discretion of the Company’s board of directors or its personnel and compensation committee. Shares of common stock issued under the restricted stock plan may be shares of original issuance or shares held in treasury that have been reacquired by the Company. All restricted stock awards outstanding at September 30, 2014 were issued with a vesting date of three years after issuance. | |||||||||||||||||
The following table summarizes non-vested restricted stock activity for the period indicated. | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Outstanding – January 1, 2014 | 616,100 | ||||||||||||||||
Granted | 0 | ||||||||||||||||
Forfeited | (1,200 | ) | |||||||||||||||
Vested | 0 | ||||||||||||||||
Outstanding – September 30, 2014 | 614,900 | ||||||||||||||||
Weighted-average grant date fair value | $ | 17.99 | |||||||||||||||
The fair value of the restricted stock awards is amortized to compensation expense over the vesting period and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. Stock-based compensation expense for restricted stock included in non-interest expense was $0.9 million and $0.6 million for the quarters ended September 30, 2014 and 2013, respectively, and $2.8 million and $1.9 million for the nine months ended September 30, 2014 and 2013, respectively. Unrecognized compensation expense for non-vested restricted stock awards was $5.1 million at September 30, 2014 and is expected to be recognized over a weighted-average period of 1.8 years. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
11 | Fair Value Measurements | ||||||||||||||||
The Company measures certain of its assets and liabilities on a fair value basis using various valuation techniques and assumptions, depending on the nature of the asset or liability. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, fair value is used either annually or on a non-recurring basis to evaluate certain assets and liabilities for impairment or for disclosure purposes. | |||||||||||||||||
The Company applies the following fair value hierarchy. | |||||||||||||||||
Level 1 | – | Quoted prices for identical instruments in active markets. | |||||||||||||||
Level 2 | – | Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable. | |||||||||||||||
Level 3 | – | Instruments whose inputs are unobservable. | |||||||||||||||
The following table sets forth the Company’s assets, for the dates indicated, that are accounted for at fair value. | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
September 30, 2014: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 568,021 | $ | 19,558 | $ | 587,579 | |||||||||
U.S. Government agency securities | 0 | 254,062 | 0 | 254,062 | |||||||||||||
Corporate obligations | 0 | 655 | 0 | 655 | |||||||||||||
Total investment securities AFS | 0 | 822,738 | 19,558 | $ | 842,296 | ||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 14,835 | 14,835 | |||||||||||||
Impaired covered loans | 0 | 0 | 13,634 | 13,634 | |||||||||||||
Impaired purchased non-covered loans | 0 | 0 | 1,657 | 1,657 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 14,781 | 14,781 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 27,882 | 27,882 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 822,738 | $ | 92,347 | $ | 915,085 | |||||||||
December 31, 2013: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 417,307 | $ | 18,682 | $ | 435,989 | |||||||||
U.S. Government agency securities | 0 | 218,869 | 0 | 218,869 | |||||||||||||
Corporate obligations | 0 | 716 | 0 | 716 | |||||||||||||
Total investment securities AFS | 0 | 636,892 | 18,682 | 655,574 | |||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 6,746 | 6,746 | |||||||||||||
Impaired covered loans | 0 | 0 | 46,179 | 46,179 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 11,851 | 11,851 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 37,960 | 37,960 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 636,892 | $ | 121,418 | $ | 758,310 | |||||||||
September 30, 2013: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 412,770 | $ | 18,798 | $ | 431,568 | |||||||||
U.S. Government agency securities | 0 | 225,311 | 0 | 225,311 | |||||||||||||
Corporate obligations | 0 | 717 | 0 | 717 | |||||||||||||
Total investment securities AFS | 0 | 638,798 | 18,798 | 657,596 | |||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 8,074 | 8,074 | |||||||||||||
Impaired covered loans | 0 | 0 | 52,575 | 52,575 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 11,647 | 11,647 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 40,452 | 40,452 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 638,798 | $ | 131,546 | $ | 770,344 | |||||||||
-1 | Does not include $17.6 million at September 30, 2014; $13.8 million at December 31, 2013 and $13.8 million at September 30, 2013 of FHLB – Dallas and FNBB stock that do not have readily determinable fair values and are carried at cost. | ||||||||||||||||
The following table presents information related to Level 3 non-recurring fair value measurements as of the date indicated. | |||||||||||||||||
Description | Fair Value at | Technique | Unobservable Inputs | ||||||||||||||
September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Impaired non-purchased loans and leases | $14,835 | Third party appraisal(1) or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Life of loan | |||||||||||||||||
Impaired covered loans | $13,634 | Third party appraisal(1) and/or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Life of loan | |||||||||||||||||
3. Discount rate | |||||||||||||||||
Impaired purchased non-covered loans | $1,657 | Third party appraisal(1) and/or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | $14,781 | Third party appraisal,(1) broker price opinions and/or discounted cash flows | 1. Management discount based on asset characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
Foreclosed assets covered by FDIC loss share agreements | $27,882 | Third party appraisal,(1) broker price opinions and/or discounted cash flows | 1. Management discount based on asset characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
-1 | The Company utilizes valuation techniques consistent with the market, cost, and income approaches, or a combination thereof in determining fair value. | ||||||||||||||||
The following methods and assumptions are used to estimate the fair value of the Company’s assets and liabilities that are accounted for at fair value. | |||||||||||||||||
Investment securities – The Company utilizes independent third parties as its principal pricing sources for determining fair value of investment securities which are measured on a recurring basis. As a result, the Company receives estimates of fair values from at least two independent pricing sources for the majority of its individual securities within its investment portfolio. For investment securities traded in an active market, fair values are based on quoted market prices if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable securities, broker quotes, comprehensive interest rate tables and pricing matrices or a combination thereof. For investment securities traded in a market that is not active, fair value is determined using unobservable inputs. All fair value estimates of the Company’s investment securities are reviewed and approved on a quarterly basis by the Company’s Investment Portfolio Manager and its Chief Financial Officer. | |||||||||||||||||
The Company has determined that certain of its investment securities had a limited to non-existent trading market at September 30, 2014. As a result, the Company considers these investments as Level 3 in the fair value hierarchy. Specifically, the fair values of certain obligations of state and political subdivisions consisting primarily of certain unrated private placement bonds (the “private placement bonds”) in the amount of $19.6 million at September 30, 2014 were calculated using Level 3 hierarchy inputs and assumptions as the trading market for such securities was determined to be “not active.” This determination was based on the limited number of trades or, in certain cases, the existence of no reported trades for the private placement bonds. The private placement bonds are generally prepayable at par value at the option of the issuer. As a result, management believes the private placement bonds should be individually valued at the lower of (i) the matrix pricing provided by the Company’s third party pricing services for comparable unrated municipal securities or (ii) par value. At September 30, 2014, the third parties’ pricing matrices valued the Company’s portfolio of private placement bonds at $19.6 million which was equal to the aggregate par value of the private placement bonds. Accordingly, at September 30, 2014, the Company reported the private placement bonds at $19.6 million. | |||||||||||||||||
Impaired non-purchased loans and leases – Fair values are measured on a nonrecurring basis and are based on the underlying collateral value of the impaired loan or lease, net of holding and selling costs, or the estimated discounted cash flows for such loan or lease. At September 30, 2014 the Company had reduced the carrying value of its impaired non-purchased loans and leases (all of which are included in nonaccrual loans and leases) by $5.4 million to the estimated fair value of $14.8 million. The $5.4 million adjustment to reduce the carrying value of impaired non-purchased loans and leases to estimated fair value consisted of $4.4 million of partial charge-offs and $1.0 million of specific loan and lease loss allocations. | |||||||||||||||||
Impaired covered loans – Impaired covered loans are measured at fair value on a non-recurring basis. In determining such fair value, management considers a number of factors including, among other things, the remaining life of the loan, estimated collateral value, estimated holding period and net present value of cash flows expected to be received. As a result, impaired covered loans include both a non-accretable difference (the credit component of the impaired loan) and an accretable difference (the yield component of the impaired loan). The non-accretable difference is the difference between the contractually required payments and the cash flows expected to be collected in accordance with management’s determination of the Day 1 Fair Values. The accretable difference is the difference between the expected cash flows and the net present value of expected cash flows and is accreted into earnings using the effective yield method. In determining the net present value of expected cash flows, the Company used discount rates ranging from 6.0% to 9.5% per annum. As of September 30, 2014, the Company identified purchased loans covered by FDIC loss share agreements acquired in its FDIC-assisted acquisitions where the expected performance of such loans had deteriorated from management’s performance expectations established in conjunction with the determination of the Day 1 Fair Values. As a result the Company recorded partial charge-offs, net of adjustments to the FDIC loss share receivable and the FDIC clawback payable, totaling $0.2 million during the third quarter and $0.9 million during the first nine months of 2014 for such loans. The Company also recorded provision for loan and lease losses of $0.2 million during the third quarter and $0.9 million during the first nine months of 2014 to cover such charge-offs. At September 30, 2014, the Company had $13.6 million of impaired covered loans. | |||||||||||||||||
Impaired purchased non-covered loans – Impaired purchased non-covered loans are measured at fair value on a non-recurring basis. In determining the Day 1 Fair Values of purchased non-covered loans without evidence of credit deterioration at the date of acquisition, management includes an adjustment of the unpaid principal balance to reflect an appropriate market rate of interest, given the risk profile and grade assigned to each loan. In determining the estimated fair value of purchased non-covered loans with evidence of credit deterioration, management considers a number of factors including, among other things, the remaining life of the acquired loans, estimated prepayments, estimated loss ratios, estimated value of the underlying collateral, estimated holding periods, and net present value of cash flows expected to be received. In determining the Day 1 Fair Values of purchased non-covered loans with evidence of credit deterioration, management calculates a non-accretable difference (the credit component of the purchased loans) and an accretable difference (the yield component of the purchased loans). The non-accretable difference is the difference between the contractually required payments and the cash flows expected to be collected in accordance with management’s determination of the Day 1 Fair Values. The accretable difference on purchased non-covered loans with evidence of credit deterioration is the difference between the expected cash flows and the net present value of expected cash flows. In determining the net present value of the expected cash flows for purposes of establishing the Day 1 Fair Values, the Company used discount rates ranging from 6.0% to 9.5% per annum depending on the risk characteristics of each individual loan. | |||||||||||||||||
As of September 30, 2014, the Company had identified purchased non-covered loans where the expected performance had deteriorated from management’s performance expectations established in conjunction with the determination of the Day 1 Fair Values or where current information indicates it is probable that the Company will not be able to collect all amounts according to the contractual terms thereon. As a result, the Company recorded partial charge-offs totaling $0.3 million during the third quarter and $0.9 million during the first nine months of 2014. The Company also recorded provision for loan and lease losses of $0.3 million during the third quarter and $0.9 million during the first nine months of 2014 to cover such charge-offs. At September 30, 2014, the Company had $1.7 million of impaired purchased non-covered loans. | |||||||||||||||||
Foreclosed assets not covered by FDIC loss share agreements – Repossessed personal properties and real estate acquired through or in lieu of foreclosure are measured on a non-recurring basis and are initially recorded at the lesser of current principal investment or fair value less estimated cost to sell (generally 8% to 10%) at the date of repossession or foreclosure. Valuations of these assets are periodically reviewed by management with the carrying value of such assets adjusted to the then estimated fair value net of estimated selling costs, if lower, until disposition. Fair values of foreclosed and repossessed assets are generally based on third party appraisals, broker price opinions or other valuations of the property. | |||||||||||||||||
Foreclosed assets covered by FDIC loss share agreements – Foreclosed assets covered by FDIC loss share agreements, or covered foreclosed assets are initially recorded at Day 1 Fair Values. In estimating the Day 1 Fair Values of covered foreclosed assets, management considers a number of factors including, among others, appraised value, estimated selling prices, estimated holding periods and net present value of cash flows expected to be received. Discount rates ranging from 8.0% to 9.5% per annum were used to determine the net present value of covered foreclosed assets for purposes of establishing the Day 1 Fair Values. Valuations of these assets are periodically reviewed by management with the carrying value of such assets adjusted through non-interest income to the then estimated fair value net of estimated selling costs, if lower, until disposition. Fair values of foreclosed assets held for sale are generally based on third party appraisals, broker price opinions or other valuations of property, resulting in a Level 3 classification. | |||||||||||||||||
The following table presents additional information for the periods indicated about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. | |||||||||||||||||
Investment | |||||||||||||||||
Securities AFS | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Balance – January 1, 2014 | $ | 18,682 | |||||||||||||||
Total realized gains (losses) included in earnings | 0 | ||||||||||||||||
Total unrealized gains (losses) included in comprehensive income | 497 | ||||||||||||||||
Acquired | 1,907 | ||||||||||||||||
Paydowns and maturities | (672 | ) | |||||||||||||||
Sales | (856 | ) | |||||||||||||||
Transfers in and/or out of Level 3 | 0 | ||||||||||||||||
Balance – September 30, 2014 | $ | 19,558 | |||||||||||||||
Balance – January 1, 2013 | $ | 104,172 | |||||||||||||||
Total realized gains (losses) included in earnings | 0 | ||||||||||||||||
Total unrealized gains (losses) included in comprehensive income | (1,940 | ) | |||||||||||||||
Paydowns and maturities | (32,647 | ) | |||||||||||||||
Sales | 0 | ||||||||||||||||
Transfers in and/or out of Level 3 | (50,787 | ) | |||||||||||||||
Balance –September 30, 2013 | $ | 18,798 | |||||||||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||
12 | Fair Value of Financial Instruments | ||||||||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of financial instruments. | |||||||||||||||||||||||||||
Cash and due from banks – For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||||||||
Investment securities – The Company utilizes independent third parties as its principal pricing sources for determining fair value of investment securities which are measured on a recurring basis. As a result, the Company receives estimates of fair values from at least two independent pricing sources for the majority of its individual securities within its investment portfolio. For investment securities traded in an active market, fair values are based on quoted market prices if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable securities, broker quotes, comprehensive interest rate tables, pricing matrices or a combination thereof. For investment securities traded in a market that is not active, fair value is determined using unobservable inputs. All fair value estimates of the Company’s investment securities are reviewed and approved on a quarterly basis by the Company’s Investment Portfolio Manager and its Chief Financial Officer. The Company’s investments in the common stock of the FHLB – Dallas and FNBB totaling $17.6 million at September 30, 2014, $13.8 million at December 31, 2013 and $13.8 million at September 30, 2013, do not have readily determinable fair values and are carried at cost. | |||||||||||||||||||||||||||
Loans and leases – The fair value of loans and leases, including covered loans and purchased non-covered loans, is estimated by discounting the contractual cash flows to be received in future periods using the current rate at which similar loans or leases would be made to borrowers or lessees with similar credit ratings and for the same remaining maturities. | |||||||||||||||||||||||||||
FDIC loss share receivable – The fair value of the FDIC loss share receivable is based on the net present value of future cash proceeds expected to be received from the FDIC under the provisions of the loss share agreements using a discount rate that is based on current market rates. | |||||||||||||||||||||||||||
Deposit liabilities – The fair value of demand deposits, savings accounts, money market deposits and other transaction accounts is the amount payable on demand at the reporting date. The fair value of fixed maturity time deposits is estimated using the rate currently available for deposits of similar remaining maturities. | |||||||||||||||||||||||||||
Repurchase agreements – For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||||||||
Other borrowed funds – For these short-term instruments, the carrying amount is a reasonable estimate of fair value. The fair value of long-term instruments is estimated based on the current rates available to the Company for borrowings with similar terms and remaining maturities. | |||||||||||||||||||||||||||
Clawback payable – The fair value of the FDIC clawback payable is based on the net present value of future cash payments expected to be remitted to the FDIC in accordance with the provisions of the loss share agreements using a discount rate that is based on current market rates. | |||||||||||||||||||||||||||
Subordinated debentures – The fair values of these instruments are based primarily upon discounted cash flows using rates for securities with similar terms and remaining maturities. | |||||||||||||||||||||||||||
Off-balance sheet instruments – The fair values of commercial loan commitments and letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, and were not material at September 30, 2014 and 2013 or at December 31, 2013. | |||||||||||||||||||||||||||
The fair values of certain of these instruments were calculated by discounting expected cash flows, which contain numerous uncertainties and involve significant judgments by management. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values represent values at which the respective financial instruments could be sold individually or in the aggregate. | |||||||||||||||||||||||||||
The following table presents the carrying amounts and estimated fair values for the dates indicated and the fair value hierarchy of the Company’s financial instruments. | |||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||
2014 | 2013 | December 31, 2013 | |||||||||||||||||||||||||
Fair | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||
Value | Amount | Fair | Amount | Fair | Amount | Fair | |||||||||||||||||||||
Hierarchy | Value | Value | Value | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 112,084 | $ | 112,084 | $ | 124,458 | $ | 124,458 | $ | 195,975 | $ | 195,975 | ||||||||||||||
Investment securities AFS | Levels 2 and 3 | 859,876 | 859,876 | 671,393 | 671,393 | 669,384 | 669,384 | ||||||||||||||||||||
Loans and leases, net of ALLL | Level 3 | 4,869,329 | 4,822,383 | 3,289,306 | 3,263,428 | 3,314,134 | 3,286,600 | ||||||||||||||||||||
FDIC loss share receivable | Level 3 | 36,583 | 36,130 | 89,642 | 89,617 | 71,854 | 71,770 | ||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||
Demand, savings and interest bearing transaction deposits | Level 1 | $ | 3,877,373 | $ | 3,877,373 | $ | 2,677,030 | $ | 2,677,030 | $ | 2,819,817 | $ | 2,819,817 | ||||||||||||||
Time deposits | Level 2 | 1,262,332 | 1,263,635 | 977,656 | 978,202 | 897,210 | 897,708 | ||||||||||||||||||||
Repurchase agreements with customers | Level 1 | 73,942 | 73,942 | 50,254 | 50,254 | 53,103 | 53,103 | ||||||||||||||||||||
Other borrowings | Level 2 | 352,616 | 373,696 | 280,905 | 322,171 | 280,895 | 319,650 | ||||||||||||||||||||
FDIC clawback payable | Level 3 | 26,676 | 26,676 | 25,705 | 25,705 | 25,897 | 25,897 | ||||||||||||||||||||
Subordinated debentures | Level 2 | 64,950 | 33,452 | 64,950 | 30,815 | 64,950 | 30,974 |
Changes_In_and_Reclassificatio
Changes In and Reclassifications From Accumulated Other Comprehensive Income ("AOCI") | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Changes In and Reclassifications From Accumulated Other Comprehensive Income ("AOCI") | ' | ||||||||||||||||
13 | Changes In and Reclassifications From Accumulated Other Comprehensive Income (“AOCI”) | ||||||||||||||||
The following table presents changes in AOCI for the dates indicated. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Beginning balance of AOCI – unrealized gains and losses on investment securities AFS | $ | 10,006 | $ | (898 | ) | $ | (3,672 | ) | $ | 10,783 | |||||||
Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | 744 | 445 | 14,437 | (11,142 | ) | ||||||||||||
Amounts reclassified from AOCI | (26 | ) | 0 | (41 | ) | (94 | ) | ||||||||||
Total other comprehensive income (loss) | 718 | 445 | 14,396 | (11,236 | ) | ||||||||||||
Ending balance of AOCI – unrealized gains and losses on investment securities AFS | $ | 10,724 | $ | (453 | ) | $ | 10,724 | $ | (453 | ) | |||||||
Amounts reclassified from AOCI to net gains on investment securities in the consolidated statements of income related entirely to unrealized gains/losses on investment securities AFS. For the three months ended September 30, 2014, amounts reclassified for net gains on investment securities were $43,000, with related tax effects of $17,000. For the three months ended September 30, 2013, there were no amounts reclassified from AOCI. For the nine months ended September 30, 2014 and 2013 amounts reclassified for net gains on investment securities were $67,000 and $156,000, respectively, with tax related tax effects of $26,000 and $62,000, respectively. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Changes and Error Corrections [Abstract] | ' | |
Recent Accounting Pronouncements | ' | |
14 | Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04 “Receivables – Troubled Debt Restructurings by Creditors (Sub topic 310-04) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure.” The provisions of this ASU clarify when an in substance foreclosure occurs and require a creditor to reclassify a collateralized consumer mortgage loan to real estate owned upon obtaining legal title to the real estate collateral, or a deed in lieu of foreclosure, or similar legal agreement that is voluntarily provided by the borrower to satisfy the loan. ASU 2014-04 was effective for reporting periods beginning January 1, 2014. The provisions of ASU 2014-04 did not have a material impact on the Company’s financial position, results of operations, or liquidity. | ||
In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers.” ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, ASU 2014-09 will have on its financial position, results of operations, and its financial statement disclosures. |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04 “Receivables – Troubled Debt Restructurings by Creditors (Sub topic 310-04) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure.” The provisions of this ASU clarify when an in substance foreclosure occurs and require a creditor to reclassify a collateralized consumer mortgage loan to real estate owned upon obtaining legal title to the real estate collateral, or a deed in lieu of foreclosure, or similar legal agreement that is voluntarily provided by the borrower to satisfy the loan. ASU 2014-04 was effective for reporting periods beginning January 1, 2014. The provisions of ASU 2014-04 did not have a material impact on the Company’s financial position, results of operations, or liquidity. | |
In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers.” ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, ASU 2014-09 will have on its financial position, results of operations, and its financial statement disclosures. |
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||||
Summary of Assets Acquired and Liabilities Assumed in Acquisition | ' | ||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by Summit, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, and the resultant fair values of those assets and liabilities as recorded by the Company. As provided for under GAAP, management has up to 12 months following the date of acquisition to finalize the fair values of the acquired assets and assumed liabilities. The fair value adjustments and the resultant fair values shown in the following table continue to be evaluated by management and may be subject to further adjustment. | |||||||||||||||||||||
May 16, 2014 | |||||||||||||||||||||
As Recorded by | Fair Value | As Recorded | |||||||||||||||||||
Summit | Adjustments | by the | |||||||||||||||||||
Company | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash, due from banks and interest earning deposits | $ | 84,106 | $ | (304 | ) | a | $ | 83,802 | |||||||||||||
Investment securities | 242,149 | 765 | b | 242,914 | |||||||||||||||||
Loans and leases | 742,546 | (24,718 | ) | c | 717,828 | ||||||||||||||||
Allowance for loan losses | (13,183 | ) | 13,183 | c | 0 | ||||||||||||||||
Premises and equipment | 13,773 | (1,108 | ) | d | 12,665 | ||||||||||||||||
Foreclosed assets | 3,094 | (1,088 | ) | e | 2,006 | ||||||||||||||||
Accrued interest receivable and other assets | 11,016 | 1,461 | f | 12,477 | |||||||||||||||||
Bank owned life insurance | 33,398 | 0 | 33,398 | ||||||||||||||||||
Core deposit intangible asset | 0 | 15,340 | g | 15,340 | |||||||||||||||||
Deferred income taxes | 3,878 | 953 | h | 4,831 | |||||||||||||||||
Total assets acquired | 1,120,777 | 4,484 | 1,125,261 | ||||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 965,687 | 4,074 | i | 969,761 | |||||||||||||||||
Repurchase agreements with customers | 16,515 | 0 | 16,515 | ||||||||||||||||||
Accrued interest payable and other liabilities | 2,352 | 1,206 | j | 3,558 | |||||||||||||||||
Total liabilities assumed | 984,554 | 5,280 | 989,834 | ||||||||||||||||||
Net assets acquired | $ | 136,223 | $ | (796 | ) | 135,427 | |||||||||||||||
Consideration paid: | |||||||||||||||||||||
Cash | 42,451 | ||||||||||||||||||||
Stock | 166,402 | ||||||||||||||||||||
Total consideration paid | 208,853 | ||||||||||||||||||||
Goodwill | $ | 73,426 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of acquired interest earning deposits. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the recorded allowance for loan losses. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
g- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
h- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. | ||||||||||||||||||||
i- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
j- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Summit. | ||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by Bancshares, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, and the resultant fair values of those assets and liabilities as recorded by the Company. As provided for under GAAP, management has up to 12 months following the date of acquisition to finalize the fair values of the acquired assets and assumed liabilities. The fair value adjustments and the resultant fair values shown in the following table continue to be evaluated by management and may be subject to further adjustment. | |||||||||||||||||||||
March 5, 2014 | |||||||||||||||||||||
As Recorded by | Fair Value | As Recorded | |||||||||||||||||||
Bancshares | Adjustments | by the | |||||||||||||||||||
Company | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash and due from banks | $ | 102,156 | $ | 0 | $ | 102,156 | |||||||||||||||
Investment securities | 1,860 | (1 | ) | a | 1,859 | ||||||||||||||||
Loans and leases | 165,939 | (10,764 | ) | b | 155,175 | ||||||||||||||||
Allowance for loan losses | (5,280 | ) | 5,280 | b | 0 | ||||||||||||||||
Premises and equipment | 6,259 | 1,619 | c | 7,878 | |||||||||||||||||
Foreclosed assets | 7,634 | (2,916 | ) | d | 4,718 | ||||||||||||||||
Accrued interest receivable and other assets | 608 | (294 | ) | e | 314 | ||||||||||||||||
Core deposit intangible asset | 0 | 2,648 | f | 2,648 | |||||||||||||||||
Deferred income taxes | 7,110 | 1,881 | g | 8,991 | |||||||||||||||||
Total assets acquired | 286,286 | (2,547 | ) | 283,739 | |||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 255,798 | 121 | h | 255,919 | |||||||||||||||||
Accrued interest payable and other liabilities | 1,358 | 295 | i | 1,653 | |||||||||||||||||
Total liabilities assumed | 257,156 | 416 | 257,572 | ||||||||||||||||||
Net assets acquired | $ | 29,130 | $ | (2,963 | ) | 26,167 | |||||||||||||||
Total cash consideration paid | (21,500 | ) | |||||||||||||||||||
Gain on acquisition | $ | 4,667 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the recorded allowance for loan losses. | ||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
g- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management has determined that acquired net operating loss carryforwards are expected to be settled in future periods where the realization of such benefits would be subject to limitations under section 382 of the Internal Revenue Code (“section 382 limitations”). Accordingly, as of the date of acquisition, the Company had established a deferred tax asset valuation allowance of approximately $0.5 million to reflect its assessment that the realization of the benefits from the settlement of these acquired net operating losses is expected to be subject to section 382 limitations. To the extent that additional information becomes available, management may be required to adjust its estimates and assumptions regarding the realization of the benefits associated with these acquired net operating losses by adjusting this deferred tax asset valuation allowance. | ||||||||||||||||||||
h- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
i- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Bancshares. | ||||||||||||||||||||
The following table provides a summary of the assets acquired and liabilities assumed as recorded by First National Bank, the fair value adjustments necessary to adjust those acquired assets and assumed liabilities to estimated fair value, the recast adjustment described above and the resultant fair values of those assets and liabilities as recorded by the Company. | |||||||||||||||||||||
July 31, 2013 | |||||||||||||||||||||
As Recorded | Fair Value | Recast | As Recorded | ||||||||||||||||||
by First | Adjustments | Adjustment | by the | ||||||||||||||||||
National Bank | Company | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Assets acquired: | |||||||||||||||||||||
Cash and due from banks | $ | 69,285 | $ | 0 | $ | 0 | $ | 69,285 | |||||||||||||
Investment securities | 149,943 | (599 | ) | a | 0 | 149,344 | |||||||||||||||
Loans and leases | 432,250 | (44,183 | ) | b | 0 | 388,067 | |||||||||||||||
Allowance for loan losses | (13,931 | ) | 13,931 | b | 0 | 0 | |||||||||||||||
Premises and equipment | 14,318 | 5,064 | c | 0 | 19,382 | ||||||||||||||||
Foreclosed assets | 3,073 | (915 | ) | d | 0 | 2,158 | |||||||||||||||
Accrued interest receivable | 1,234 | (110 | ) | e | 0 | 1,124 | |||||||||||||||
BOLI | 14,812 | 0 | 0 | 14,812 | |||||||||||||||||
Core deposit intangible asset | 0 | 10,136 | f | 0 | 10,136 | ||||||||||||||||
Deferred income taxes | 12,179 | 12,325 | g | 4,102 | 28,606 | ||||||||||||||||
Other assets | 4,277 | (251 | ) | e | 0 | 4,026 | |||||||||||||||
Total assets acquired | 687,440 | (4,602 | ) | 4,102 | 686,940 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||||||
Deposits | 595,668 | 4,950 | h | 0 | 600,618 | ||||||||||||||||
Repurchase agreements with customers | 6,405 | 0 | 0 | 6,405 | |||||||||||||||||
Accrued interest payable and other | 1,296 | 1,164 | i | 0 | 2,460 | ||||||||||||||||
liabilities | |||||||||||||||||||||
Total liabilities assumed | 603,369 | 6,114 | 0 | 609,483 | |||||||||||||||||
Net assets acquired | $ | 84,071 | $ | (10,716 | ) | $ | 4,102 | 77,457 | |||||||||||||
Consideration paid: | |||||||||||||||||||||
Cash | (12,215 | ) | |||||||||||||||||||
Common stock | (60,079 | ) | |||||||||||||||||||
Total consideration paid | (72,294 | ) | |||||||||||||||||||
Gain on acquisition | $ | 5,163 | |||||||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||||||
a- | Adjustment reflects the fair value adjustment based on the Company’s pricing of the acquired investment securities portfolio. | ||||||||||||||||||||
b- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired loan portfolio and to eliminate the | ||||||||||||||||||||
recorded allowance for loan losses. | |||||||||||||||||||||
c- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the premises and equipment acquired. | ||||||||||||||||||||
d- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired foreclosed assets. | ||||||||||||||||||||
e- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of accrued interest receivable and other assets. | ||||||||||||||||||||
f- | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | ||||||||||||||||||||
g- | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management initially determined that acquired net operating loss carryforwards and other acquired assets with built-in losses were expected to be settled or otherwise recovered in future periods where the realization of such benefits would be subject to section 382 limitations. Accordingly, at the date of acquisition, the Company established a deferred tax asset valuation allowance of approximately $4.1 million to reflect its initial assessment that the realization of the benefits from the settlement or recovery of certain of these acquired assets and net operating losses was expected to be subject to section 382 limitations. During the second quarter of 2014, management determined such valuation allowance was not necessary. Accordingly, the Company’s acquisition of | ||||||||||||||||||||
First National Bank has been recast to reflect such determination. | |||||||||||||||||||||
h- | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired deposits. | ||||||||||||||||||||
i- | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of First National Bank. | ||||||||||||||||||||
Summary of Supplemental Pro-forma Information | ' | ||||||||||||||||||||
The following unaudited supplemental pro forma information is presented to show the estimated results assuming Summit was acquired as of the beginning of each period presented, adjusted for estimated potential costs savings. These unaudited pro forma results are not necessarily indicative of the operating results that the Company would have achieved had it completed the acquisition as of January 1, 2013 or 2014 and should not be considered as representative of future operating results. | |||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(Dollars in thousands, | |||||||||||||||||||||
except per share amounts) | |||||||||||||||||||||
Net interest income – pro forma (unaudited) | $ | 208,758 | $ | 171,824 | |||||||||||||||||
Net income – pro forma (unaudited) | $ | 91,402 | $ | 81,787 | |||||||||||||||||
Diluted earnings per common share – pro forma (unaudited) | $ | 1.14 | $ | 1.05 | |||||||||||||||||
Summary of Financial Statement Captions Impacted by Recast Adjustments | ' | ||||||||||||||||||||
The following is a summary of those financial statement captions that have been impacted by this recast adjustment. | |||||||||||||||||||||
As Previously | Recast | As Recast | |||||||||||||||||||
Reported | Adjustment | ||||||||||||||||||||
(Dollars in thousands, except per share amounts) | |||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||
Deferred income tax asset valuation allowance | $ | (4,102 | ) | $ | 4,102 | $ | 0 | ||||||||||||||
Total stockholders’ equity before noncontrolling interest | 608,236 | 4,102 | 612,338 | ||||||||||||||||||
Gain on merger and acquisition transaction | 1,061 | 4,102 | 5,163 | ||||||||||||||||||
Net income available to common stockholders | 62,737 | 4,102 | 66,839 | ||||||||||||||||||
Diluted earnings per common share, split adjusted | $ | 0.87 | $ | 0.06 | $ | 0.93 | |||||||||||||||
Earnings_Per_Common_Share_EPS_
Earnings Per Common Share ("EPS") (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Calculation of Numerator and Denominator in Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The following table presents the computation of basic and diluted EPS for the periods indicated. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
Numerator: | |||||||||||||||||
Distributed earnings allocated to common stock | $ | 9,560 | $ | 6,732 | $ | 26,166 | $ | 18,036 | |||||||||
Undistributed earnings allocated to common stock | 22,533 | 19,720 | 57,689 | 48,803 | |||||||||||||
Net income available to common stock | $ | 32,093 | $ | 26,452 | $ | 83,855 | $ | 66,839 | |||||||||
Denominator: | |||||||||||||||||
Denominator for basic EPS – weighted-average common shares | 79,678 | 72,544 | 76,763 | 71,338 | |||||||||||||
Effect of dilutive securities – stock options | 767 | 752 | 706 | 650 | |||||||||||||
Denominator for diluted EPS – weighted-average common shares and assumed conversions | 80,445 | 73,296 | 77,469 | 71,988 | |||||||||||||
Basic EPS | $ | 0.4 | $ | 0.36 | $ | 1.09 | $ | 0.94 | |||||||||
Diluted EPS | $ | 0.4 | $ | 0.36 | $ | 1.08 | $ | 0.93 | |||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Summary of Amortized Cost and Estimated Fair Values of Investment Securities | ' | ||||||||||||||||||||||||
The following table presents the amortized cost and estimated fair value of investment securities AFS as of the dates indicated. The Company’s holdings of “other equity securities” include Federal Home Loan Bank of Dallas (“FHLB – Dallas”) and First National Banker’s Bankshares, Inc. (“FNBB”) shares, which do not have readily determinable fair values and are carried at cost. | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 572,070 | $ | 16,610 | $ | (1,101 | ) | $ | 587,579 | ||||||||||||||||
U.S. Government agency securities | 251,926 | 4,427 | (2,291 | ) | 254,062 | ||||||||||||||||||||
Corporate obligations | 655 | 0 | 0 | 655 | |||||||||||||||||||||
Other equity securities | 17,580 | 0 | 0 | 17,580 | |||||||||||||||||||||
Total | $ | 842,231 | $ | 21,037 | $ | (3,392 | ) | $ | 859,876 | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 438,390 | $ | 6,230 | $ | (8,631 | ) | $ | 435,989 | ||||||||||||||||
U.S. Government agency securities | 222,510 | 2,352 | (5,993 | ) | 218,869 | ||||||||||||||||||||
Corporate obligations | 716 | 0 | 0 | 716 | |||||||||||||||||||||
Other equity securities | 13,810 | 0 | 0 | 13,810 | |||||||||||||||||||||
Total | $ | 675,426 | $ | 8,582 | $ | (14,624 | ) | $ | 669,384 | ||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 432,362 | $ | 7,423 | $ | (8,217 | ) | $ | 431,568 | ||||||||||||||||
U.S. Government agency securities | 225,263 | 4,077 | (4,029 | ) | 225,311 | ||||||||||||||||||||
Corporate obligations | 717 | 0 | 0 | 717 | |||||||||||||||||||||
Other equity securities | 13,797 | 0 | 0 | 13,797 | |||||||||||||||||||||
Total | $ | 672,139 | $ | 11,500 | $ | (12,246 | ) | $ | 671,393 | ||||||||||||||||
Gross Unrealized Losses and Estimated Fair Value of Investment Securities | ' | ||||||||||||||||||||||||
The following table shows estimated fair value of investment securities AFS having gross unrealized losses and the amount of such unrealized losses, aggregated by investment category and length of time that individual investment securities have been in a continuous unrealized loss position, as of the dates indicated. | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 40,386 | $ | 146 | $ | 53,628 | $ | 955 | $ | 94,014 | $ | 1,101 | |||||||||||||
U.S. Government agency securities | 44,958 | 226 | 57,610 | 2,065 | 102,568 | 2,291 | |||||||||||||||||||
Total temporarily impaired securities | $ | 85,344 | $ | 372 | $ | 111,238 | $ | 3,020 | $ | 196,582 | $ | 3,392 | |||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 132,568 | $ | 7,237 | $ | 10,823 | $ | 1,394 | $ | 143,391 | $ | 8,631 | |||||||||||||
U.S. Government agency securities | 127,274 | 5,993 | 0 | 0 | 127,274 | 5,993 | |||||||||||||||||||
Total temporarily impaired securities | $ | 259,842 | $ | 13,230 | $ | 10,823 | $ | 1,394 | $ | 270,665 | $ | 14,624 | |||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Obligations of state and political subdivisions | $ | 122,614 | $ | 7,523 | $ | 8,020 | $ | 694 | $ | 130,634 | $ | 8,217 | |||||||||||||
U.S. Government agency securities | 60,861 | 4,029 | 0 | 0 | 60,861 | 4,029 | |||||||||||||||||||
Total temporarily impaired securities | $ | 183,475 | $ | 11,552 | $ | 8,020 | $ | 694 | $ | 191,495 | $ | 12,246 | |||||||||||||
Maturity Distribution of Investment Securities AFS Reported at Amortized Cost and Estimated Fair Value | ' | ||||||||||||||||||||||||
The following table shows the amortized cost and estimated fair value of investment securities AFS by maturity or estimated date of repayment as of the date indicated. | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Maturity or | Amortized | Estimated | |||||||||||||||||||||||
Estimated Repayment | Cost | Fair Value | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
One year or less | $ | 37,664 | $ | 38,291 | |||||||||||||||||||||
After one year to five years | 138,870 | 140,563 | |||||||||||||||||||||||
After five years to ten years | 194,325 | 196,655 | |||||||||||||||||||||||
After ten years | 471,372 | 484,367 | |||||||||||||||||||||||
Total | $ | 842,231 | $ | 859,876 | |||||||||||||||||||||
Sales Activities of Company's Investment Securities AFS are Summarized | ' | ||||||||||||||||||||||||
The following table is a summary of sales activities in the Company’s investment securities AFS for the periods indicated. | |||||||||||||||||||||||||
Three Months | Nine Months Ended | ||||||||||||||||||||||||
Ended | September 30, | ||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Sales proceeds | $ | 6,563 | $ | 0 | $ | 54,957 | $ | 999 | |||||||||||||||||
Gross realized gains | $ | 58 | $ | 0 | $ | 82 | $ | 156 | |||||||||||||||||
Gross realized losses | (15 | ) | 0 | (15 | ) | 0 | |||||||||||||||||||
Net gains on investment securities | $ | 43 | $ | 0 | $ | 67 | $ | 156 | |||||||||||||||||
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses ("ALLL") and Credit Quality Indicators (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Activity Within Allowance for Loan and Lease Losses | ' | ||||||||||||||||||||||||||||||||
The following table is a summary of activity within the ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 46,958 | $ | 39,372 | $ | 42,945 | $ | 38,738 | |||||||||||||||||||||||||
Non-purchased loans and leases charged off | (737 | ) | (754 | ) | (3,306 | ) | (3,203 | ) | |||||||||||||||||||||||||
Recoveries of non-purchased loans and leases previously charged off | 185 | 142 | 1,167 | 925 | |||||||||||||||||||||||||||||
Net non-purchased loans and leases charged off | (552 | ) | (612 | ) | (2,139 | ) | (2,278 | ) | |||||||||||||||||||||||||
Covered loans charged off | (205 | ) | (918 | ) | (925 | ) | (4,012 | ) | |||||||||||||||||||||||||
Purchased non-covered loans charged off | (282 | ) | 0 | (849 | ) | 0 | |||||||||||||||||||||||||||
Net charge-offs – total loans and leases | (1,039 | ) | (1,530 | ) | (3,913 | ) | (6,290 | ) | |||||||||||||||||||||||||
Provision for loan and lease losses: | |||||||||||||||||||||||||||||||||
Non-purchased loans and leases | 3,200 | 2,900 | 8,800 | 5,200 | |||||||||||||||||||||||||||||
Covered loans | 205 | 918 | 925 | 4,012 | |||||||||||||||||||||||||||||
Purchased non-covered loans | 282 | 0 | 849 | 0 | |||||||||||||||||||||||||||||
Total provision | 3,687 | 3,818 | 10,574 | 9,212 | |||||||||||||||||||||||||||||
Ending balance | $ | 49,606 | $ | 41,660 | $ | 49,606 | $ | 41,660 | |||||||||||||||||||||||||
Summary of Company's Allowance for Loan and Lease Losses | ' | ||||||||||||||||||||||||||||||||
The following table is a summary of the Company’s ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Beginning | Charge-offs | Recoveries | Provision | Ending | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,760 | $ | (115 | ) | $ | 47 | $ | 610 | $ | 5,302 | ||||||||||||||||||||||
Non-farm/non-residential | 14,836 | (90 | ) | 15 | 3,267 | 18,028 | |||||||||||||||||||||||||||
Construction/land development | 15,464 | 0 | 4 | (950 | ) | 14,518 | |||||||||||||||||||||||||||
Agricultural | 2,908 | (198 | ) | 2 | (98 | ) | 2,614 | ||||||||||||||||||||||||||
Multifamily residential | 1,772 | 0 | 0 | (161 | ) | 1,611 | |||||||||||||||||||||||||||
Commercial and industrial | 2,848 | (55 | ) | 38 | 108 | 2,939 | |||||||||||||||||||||||||||
Consumer | 926 | (29 | ) | 14 | (89 | ) | 822 | ||||||||||||||||||||||||||
Direct financing leases | 2,572 | (151 | ) | 29 | 371 | 2,821 | |||||||||||||||||||||||||||
Other | 872 | (99 | ) | 36 | 142 | 951 | |||||||||||||||||||||||||||
Covered loans | 0 | (205 | ) | 0 | 205 | 0 | |||||||||||||||||||||||||||
Purchased non-covered loans | 0 | (282 | ) | 0 | 282 | 0 | |||||||||||||||||||||||||||
Total | $ | 46,958 | $ | (1,224 | ) | $ | 185 | $ | 3,687 | $ | 49,606 | ||||||||||||||||||||||
Nine months ended September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,701 | $ | (456 | ) | $ | 118 | $ | 939 | $ | 5,302 | ||||||||||||||||||||||
Non-farm/non-residential | 13,633 | (1,344 | ) | 19 | 5,720 | 18,028 | |||||||||||||||||||||||||||
Construction/land development | 12,306 | (14 | ) | 12 | 2,214 | 14,518 | |||||||||||||||||||||||||||
Agricultural | 3,000 | (213 | ) | 13 | (186 | ) | 2,614 | ||||||||||||||||||||||||||
Multifamily residential | 2,504 | 0 | 0 | (893 | ) | 1,611 | |||||||||||||||||||||||||||
Commercial and industrial | 2,855 | (477 | ) | 801 | (240 | ) | 2,939 | ||||||||||||||||||||||||||
Consumer | 917 | (126 | ) | 50 | (19 | ) | 822 | ||||||||||||||||||||||||||
Direct financing leases | 2,266 | (418 | ) | 43 | 930 | 2,821 | |||||||||||||||||||||||||||
Other | 763 | (258 | ) | 111 | 335 | 951 | |||||||||||||||||||||||||||
Covered loans | 0 | (925 | ) | 0 | 925 | 0 | |||||||||||||||||||||||||||
Purchased non-covered loans | 0 | (849 | ) | 0 | 849 | 0 | |||||||||||||||||||||||||||
Total | $ | 42,945 | $ | (5,080 | ) | $ | 1,167 | $ | 10,574 | $ | 49,606 | ||||||||||||||||||||||
The following table is a summary of the Company’s ALLL for the periods indicated. | |||||||||||||||||||||||||||||||||
Beginning | Charge-offs | Recoveries | Provision | Ending | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Year ended December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,820 | $ | (837 | ) | $ | 106 | $ | 612 | $ | 4,701 | ||||||||||||||||||||||
Non-farm/non-residential | 10,107 | (1,111 | ) | 122 | 4,515 | 13,633 | |||||||||||||||||||||||||||
Construction/land development | 12,000 | (137 | ) | 174 | 269 | 12,306 | |||||||||||||||||||||||||||
Agricultural | 2,878 | (261 | ) | 14 | 369 | 3,000 | |||||||||||||||||||||||||||
Multifamily residential | 2,030 | (4 | ) | 4 | 474 | 2,504 | |||||||||||||||||||||||||||
Commercial and industrial | 3,655 | (922 | ) | 433 | (311 | ) | 2,855 | ||||||||||||||||||||||||||
Consumer | 1,015 | (214 | ) | 104 | 12 | 917 | |||||||||||||||||||||||||||
Direct financing leases | 2,050 | (482 | ) | 33 | 665 | 2,266 | |||||||||||||||||||||||||||
Other | 183 | (359 | ) | 144 | 795 | 763 | |||||||||||||||||||||||||||
Covered loans | 0 | (4,675 | ) | 0 | 4,675 | 0 | |||||||||||||||||||||||||||
Total | $ | 38,738 | $ | (9,002 | ) | $ | 1,134 | $ | 12,075 | $ | 42,945 | ||||||||||||||||||||||
Three months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,653 | $ | (111 | ) | $ | 11 | $ | 294 | $ | 4,847 | ||||||||||||||||||||||
Non-farm/non-residential | 12,464 | (19 | ) | 0 | 304 | 12,749 | |||||||||||||||||||||||||||
Construction/land development | 11,290 | (7 | ) | 13 | 1,434 | 12,730 | |||||||||||||||||||||||||||
Agricultural | 2,595 | (260 | ) | 5 | 182 | 2,522 | |||||||||||||||||||||||||||
Multifamily residential | 1,854 | 0 | 0 | 203 | 2,057 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,929 | (55 | ) | 56 | (172 | ) | 2,758 | ||||||||||||||||||||||||||
Consumer | 993 | (57 | ) | 19 | (13 | ) | 942 | ||||||||||||||||||||||||||
Direct financing leases | 2,041 | (152 | ) | 9 | 262 | 2,160 | |||||||||||||||||||||||||||
Other | 553 | (93 | ) | 29 | 406 | 895 | |||||||||||||||||||||||||||
Covered loans | 0 | (918 | ) | 0 | 918 | 0 | |||||||||||||||||||||||||||
Total | $ | 39,372 | $ | (1,672 | ) | $ | 142 | $ | 3,818 | $ | 41,660 | ||||||||||||||||||||||
Nine months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,820 | $ | (528 | ) | $ | 113 | $ | 442 | $ | 4,847 | ||||||||||||||||||||||
Non-farm/non-residential | 10,107 | (612 | ) | 118 | 3,136 | 12,749 | |||||||||||||||||||||||||||
Construction/land development | 12,000 | (136 | ) | 21 | 845 | 12,730 | |||||||||||||||||||||||||||
Agricultural | 2,878 | (260 | ) | 9 | (105 | ) | 2,522 | ||||||||||||||||||||||||||
Multifamily residential | 2,030 | 0 | 0 | 27 | 2,057 | ||||||||||||||||||||||||||||
Commercial and industrial | 3,655 | (887 | ) | 431 | (441 | ) | 2,758 | ||||||||||||||||||||||||||
Consumer | 1,015 | (176 | ) | 90 | 13 | 942 | |||||||||||||||||||||||||||
Direct financing leases | 2,050 | (338 | ) | 29 | 419 | 2,160 | |||||||||||||||||||||||||||
Other | 183 | (266 | ) | 114 | 864 | 895 | |||||||||||||||||||||||||||
Covered loans | 0 | (4,012 | ) | 0 | 4,012 | 0 | |||||||||||||||||||||||||||
Total | $ | 38,738 | $ | (7,215 | ) | $ | 925 | $ | 9,212 | $ | 41,660 | ||||||||||||||||||||||
Summary of Allowance for Loan and Lease Losses and Recorded Investment in Loans and Leases, Excluding Loans Covered by FDIC | ' | ||||||||||||||||||||||||||||||||
The following table is a summary of the Company’s ALLL and recorded investment in non-purchased loans and leases, as of the dates indicated. | |||||||||||||||||||||||||||||||||
Allowance for Non-Purchased | Non-Purchased Loans and Leases | ||||||||||||||||||||||||||||||||
Loan and Lease Losses | |||||||||||||||||||||||||||||||||
ALLL for | ALLL for | Total | Individually | All Other | Total Loans | ||||||||||||||||||||||||||||
Individually | All Other | ALLL | Evaluated | Loans and | and Leases | ||||||||||||||||||||||||||||
Evaluated | Loans and | Impaired | Leases | ||||||||||||||||||||||||||||||
Impaired | Leases | Loans and | |||||||||||||||||||||||||||||||
Loans and | Leases | ||||||||||||||||||||||||||||||||
Leases | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 345 | $ | 4,957 | $ | 5,302 | $ | 2,360 | $ | 275,981 | $ | 278,341 | |||||||||||||||||||||
Non-farm/non-residential | 24 | 18,004 | 18,028 | 2,300 | 1,370,994 | 1,373,294 | |||||||||||||||||||||||||||
Construction/land development | 2 | 14,516 | 14,518 | 10,191 | 1,223,062 | 1,233,253 | |||||||||||||||||||||||||||
Agricultural | 30 | 2,584 | 2,614 | 376 | 46,345 | 46,721 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 1,611 | 1,611 | 0 | 155,940 | 155,940 | |||||||||||||||||||||||||||
Commercial and industrial | 606 | 2,333 | 2,939 | 578 | 312,714 | 313,292 | |||||||||||||||||||||||||||
Consumer | 3 | 819 | 822 | 32 | 25,367 | 25,399 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,821 | 2,821 | 0 | 109,059 | 109,059 | |||||||||||||||||||||||||||
Other | 0 | 951 | 951 | 8 | 103,835 | 103,843 | |||||||||||||||||||||||||||
Total | $ | 1,010 | $ | 48,596 | $ | 49,606 | $ | 15,845 | $ | 3,623,297 | $ | 3,639,142 | |||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 438 | $ | 4,263 | $ | 4,701 | $ | 4,047 | $ | 245,509 | $ | 249,556 | |||||||||||||||||||||
Non-farm/non-residential | 15 | 13,618 | 13,633 | 2,159 | 1,101,955 | 1,104,114 | |||||||||||||||||||||||||||
Construction/land development | 2 | 12,304 | 12,306 | 236 | 722,321 | 722,557 | |||||||||||||||||||||||||||
Agricultural | 229 | 2,771 | 3,000 | 883 | 44,313 | 45,196 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 2,504 | 2,504 | 0 | 208,337 | 208,337 | |||||||||||||||||||||||||||
Commercial and industrial | 652 | 2,203 | 2,855 | 686 | 123,382 | 124,068 | |||||||||||||||||||||||||||
Consumer | 3 | 914 | 917 | 50 | 26,132 | 26,182 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,266 | 2,266 | 0 | 86,321 | 86,321 | |||||||||||||||||||||||||||
Other | 2 | 761 | 763 | 26 | 66,208 | 66,234 | |||||||||||||||||||||||||||
Total | $ | 1,341 | $ | 41,604 | $ | 42,945 | $ | 8,087 | $ | 2,624,478 | $ | 2,632,565 | |||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 490 | $ | 4,357 | $ | 4,847 | $ | 3,535 | $ | 247,491 | $ | 251,026 | |||||||||||||||||||||
Non-farm/non-residential | 6 | 12,743 | 12,749 | 3,572 | 1,032,046 | 1,035,618 | |||||||||||||||||||||||||||
Construction/land development | 2 | 12,728 | 12,730 | 217 | 713,981 | 714,198 | |||||||||||||||||||||||||||
Agricultural | 187 | 2,335 | 2,522 | 951 | 47,002 | 47,953 | |||||||||||||||||||||||||||
Multifamily residential | 0 | 2,057 | 2,057 | 310 | 163,606 | 163,916 | |||||||||||||||||||||||||||
Commercial and industrial | 613 | 2,145 | 2,758 | 739 | 121,424 | 122,163 | |||||||||||||||||||||||||||
Consumer | 4 | 938 | 942 | 33 | 27,265 | 27,298 | |||||||||||||||||||||||||||
Direct financing leases | 0 | 2,160 | 2,160 | 0 | 81,984 | 81,984 | |||||||||||||||||||||||||||
Other | 1 | 894 | 895 | 20 | 78,413 | 78,433 | |||||||||||||||||||||||||||
Total | $ | 1,303 | $ | 40,357 | $ | 41,660 | $ | 9,377 | $ | 2,513,212 | $ | 2,522,589 | |||||||||||||||||||||
Schedule of Impaired Non-purchased Loans and Leases, FDIC Loss Share Agreements | ' | ||||||||||||||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the three months and nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | Weighted | ||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | Average | ||||||||||||||||||||||||||||
to Date | Net of | Carrying | Carrying | ||||||||||||||||||||||||||||||
Charge-offs | Value – Three | Value – Nine | |||||||||||||||||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 2,984 | $ | (1,654 | ) | $ | 1,330 | $ | 345 | $ | 1,452 | $ | 1,564 | ||||||||||||||||||||
Non-farm/non-residential | 415 | (216 | ) | 199 | 24 | 121 | 87 | ||||||||||||||||||||||||||
Construction/land development | 36 | (22 | ) | 14 | 2 | 16 | 16 | ||||||||||||||||||||||||||
Agricultural | 116 | (12 | ) | 104 | 30 | 214 | 311 | ||||||||||||||||||||||||||
Commercial and industrial | 1,314 | (764 | ) | 550 | 606 | 555 | 571 | ||||||||||||||||||||||||||
Consumer | 101 | (84 | ) | 17 | 3 | 20 | 22 | ||||||||||||||||||||||||||
Other | 0 | (0 | ) | 0 | 0 | 0 | 4 | ||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 4,966 | (2,752 | ) | 2,214 | 1,010 | 2,378 | 2,575 | ||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 1,343 | (313 | ) | 1,030 | 0 | 1,352 | 1,802 | ||||||||||||||||||||||||||
Non-farm/non-residential | 2,826 | (725 | ) | 2,101 | 0 | 2,210 | 2,025 | ||||||||||||||||||||||||||
Construction/land development | 10,258 | (81 | ) | 10,177 | 0 | 9,949 | 5,107 | ||||||||||||||||||||||||||
Agricultural | 474 | (202 | ) | 272 | 0 | 397 | 419 | ||||||||||||||||||||||||||
Multifamily residential | 133 | (133 | ) | 0 | 0 | 246 | 123 | ||||||||||||||||||||||||||
Commercial and industrial | 187 | (159 | ) | 28 | 0 | 79 | 73 | ||||||||||||||||||||||||||
Consumer | 20 | (5 | ) | 15 | 0 | 17 | 21 | ||||||||||||||||||||||||||
Other | 8 | (0 | ) | 8 | 0 | 8 | 9 | ||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 15,249 | (1,618 | ) | 13,631 | 0 | 14,258 | 9,579 | ||||||||||||||||||||||||||
Total impaired loans and leases | $ | 20,215 | $ | (4,370 | ) | $ | 15,845 | $ | 1,010 | $ | 16,636 | $ | 12,154 | ||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | |||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | |||||||||||||||||||||||||||||
to Date | Net of | Carrying | |||||||||||||||||||||||||||||||
Charge-offs | Value – Year | ||||||||||||||||||||||||||||||||
Ended | |||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,609 | $ | (1,692 | ) | $ | 1,917 | $ | 438 | $ | 1,638 | ||||||||||||||||||||||
Non-farm/non-residential | 121 | (75 | ) | 46 | 15 | 93 | |||||||||||||||||||||||||||
Construction/land development | 38 | (22 | ) | 16 | 2 | 17 | |||||||||||||||||||||||||||
Agricultural | 511 | (42 | ) | 469 | 229 | 514 | |||||||||||||||||||||||||||
Commercial and industrial | 2,016 | (1,405 | ) | 611 | 652 | 578 | |||||||||||||||||||||||||||
Consumer | 178 | (156 | ) | 22 | 3 | 10 | |||||||||||||||||||||||||||
Other | 40 | (25 | ) | 15 | 2 | 10 | |||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 6,513 | (3,417 | ) | 3,096 | 1,341 | 2,860 | |||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 2,939 | (808 | ) | 2,131 | 0 | 1,541 | |||||||||||||||||||||||||||
Non-farm/non-residential | 3,234 | (1,120 | ) | 2,114 | 0 | 4,344 | |||||||||||||||||||||||||||
Construction/land development | 300 | (81 | ) | 219 | 0 | 303 | |||||||||||||||||||||||||||
Agricultural | 426 | (12 | ) | 414 | 0 | 404 | |||||||||||||||||||||||||||
Multifamily residential | 133 | (133 | ) | 0 | 0 | 124 | |||||||||||||||||||||||||||
Commercial and industrial | 85 | (10 | ) | 75 | 0 | 172 | |||||||||||||||||||||||||||
Consumer | 39 | (12 | ) | 27 | 0 | 24 | |||||||||||||||||||||||||||
Other | 31 | (20 | ) | 11 | 0 | 9 | |||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 7,187 | (2,196 | ) | 4,991 | 0 | 6,921 | |||||||||||||||||||||||||||
Total impaired loans and leases | $ | 13,700 | $ | (5,613 | ) | $ | 8,087 | $ | 1,341 | $ | 9,781 | ||||||||||||||||||||||
The following table is a summary of impaired non-purchased loans and leases as of and for the three months and nine months ended September 30, 2013. | |||||||||||||||||||||||||||||||||
Principal | Net | Principal | Specific | Weighted | Weighted | ||||||||||||||||||||||||||||
Balance | Charge-offs | Balance, | ALLL | Average | Average | ||||||||||||||||||||||||||||
to Date | Net of | Carrying | Carrying | ||||||||||||||||||||||||||||||
Charge-offs | Value – Three | Value – Nine | |||||||||||||||||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Impaired loans and leases for which there is a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,601 | $ | (1,662 | ) | $ | 1,939 | $ | 490 | $ | 1,624 | $ | 1,569 | ||||||||||||||||||||
Non-farm/non-residential | 37 | 0 | 37 | 6 | 24 | 105 | |||||||||||||||||||||||||||
Construction/land development | 129 | (112 | ) | 17 | 2 | 8 | 17 | ||||||||||||||||||||||||||
Agricultural | 459 | (42 | ) | 417 | 187 | 421 | 525 | ||||||||||||||||||||||||||
Commercial and industrial | 2,270 | (1,713 | ) | 557 | 613 | 558 | 570 | ||||||||||||||||||||||||||
Consumer | 39 | (13 | ) | 26 | 4 | 13 | 7 | ||||||||||||||||||||||||||
Other | 145 | (137 | ) | 8 | 1 | 8 | 9 | ||||||||||||||||||||||||||
Total impaired loans and leases with a related ALLL | 6,680 | (3,679 | ) | 3,001 | 1,303 | 2,656 | 2,802 | ||||||||||||||||||||||||||
Impaired loans and leases for which there is not a related ALLL: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | 2,244 | (648 | ) | 1,596 | 0 | 1,507 | 1,394 | ||||||||||||||||||||||||||
Non-farm/non-residential | 4,645 | (1,110 | ) | 3,535 | 0 | 6,957 | 4,902 | ||||||||||||||||||||||||||
Construction/land development | 281 | (81 | ) | 200 | 0 | 236 | 324 | ||||||||||||||||||||||||||
Agricultural | 801 | (267 | ) | 534 | 0 | 386 | 401 | ||||||||||||||||||||||||||
Multifamily residential | 443 | (133 | ) | 310 | 0 | 311 | 155 | ||||||||||||||||||||||||||
Commercial and industrial | 397 | (215 | ) | 182 | 0 | 166 | 196 | ||||||||||||||||||||||||||
Consumer | 19 | (12 | ) | 7 | 0 | 7 | 23 | ||||||||||||||||||||||||||
Other | 32 | (20 | ) | 12 | 0 | 8 | 8 | ||||||||||||||||||||||||||
Total impaired loans and leases without a related ALLL | 8,862 | (2,486 | ) | 6,376 | 0 | 9,578 | 7,403 | ||||||||||||||||||||||||||
Total impaired loans and leases | $ | 15,542 | $ | (6,165 | ) | $ | 9,377 | $ | 1,303 | $ | 12,234 | $ | 10,205 | ||||||||||||||||||||
Summary of Credit Quality Indicators for Loans and Leases, Including Covered and Non-Covered Loans and Leases | ' | ||||||||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s non-purchased loans and leases as of the dates indicated. | |||||||||||||||||||||||||||||||||
Satisfactory | Moderate | Watch | Substandard | Total | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family (1) | $ | 268,707 | $ | 0 | $ | 3,797 | $ | 5,837 | $ | 278,341 | |||||||||||||||||||||||
Non-farm/non-residential | 1,170,334 | 141,395 | 54,078 | 7,487 | 1,373,294 | ||||||||||||||||||||||||||||
Construction/land development | 1,016,496 | 186,496 | 16,979 | 13,282 | 1,233,253 | ||||||||||||||||||||||||||||
Agricultural | 24,335 | 10,202 | 10,062 | 2,122 | 46,721 | ||||||||||||||||||||||||||||
Multifamily residential | 119,765 | 35,039 | 382 | 754 | 155,940 | ||||||||||||||||||||||||||||
Commercial and industrial | 267,178 | 43,286 | 1,347 | 1,481 | 313,292 | ||||||||||||||||||||||||||||
Consumer (1) | 24,879 | 0 | 263 | 257 | 25,399 | ||||||||||||||||||||||||||||
Direct financing leases | 108,126 | 829 | 32 | 72 | 109,059 | ||||||||||||||||||||||||||||
Other (1) | 99,786 | 3,853 | 180 | 24 | 103,843 | ||||||||||||||||||||||||||||
Total | $ | 3,099,606 | $ | 421,100 | $ | 87,120 | $ | 31,316 | $ | 3,639,142 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family (1) | $ | 239,940 | $ | 0 | $ | 3,140 | $ | 6,476 | $ | 249,556 | |||||||||||||||||||||||
Non-farm/non-residential | 916,304 | 128,624 | 52,388 | 6,798 | 1,104,114 | ||||||||||||||||||||||||||||
Construction/land development | 550,436 | 144,435 | 23,574 | 4,112 | 722,557 | ||||||||||||||||||||||||||||
Agricultural | 21,647 | 11,098 | 9,788 | 2,663 | 45,196 | ||||||||||||||||||||||||||||
Multifamily residential | 177,144 | 30,029 | 391 | 773 | 208,337 | ||||||||||||||||||||||||||||
Commercial and industrial | 87,568 | 33,071 | 1,664 | 1,765 | 124,068 | ||||||||||||||||||||||||||||
Consumer (1) | 25,574 | 0 | 230 | 378 | 26,182 | ||||||||||||||||||||||||||||
Direct financing leases | 85,363 | 955 | 0 | 3 | 86,321 | ||||||||||||||||||||||||||||
Other (1) | 63,799 | 2,237 | 119 | 79 | 66,234 | ||||||||||||||||||||||||||||
Total | $ | 2,167,775 | $ | 350,449 | $ | 91,294 | $ | 23,047 | $ | 2,632,565 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family(1) | $ | 242,202 | $ | 0 | $ | 1,438 | $ | 7,386 | $ | 251,026 | |||||||||||||||||||||||
Non-farm/non-residential | 839,345 | 134,754 | 51,589 | 9,930 | 1,035,618 | ||||||||||||||||||||||||||||
Construction/land development | 544,324 | 136,270 | 29,122 | 4,482 | 714,198 | ||||||||||||||||||||||||||||
Agricultural | 23,926 | 11,688 | 9,317 | 3,022 | 47,953 | ||||||||||||||||||||||||||||
Multifamily residential | 132,722 | 29,716 | 394 | 1,084 | 163,916 | ||||||||||||||||||||||||||||
Commercial and industrial | 91,913 | 26,843 | 1,210 | 2,197 | 122,163 | ||||||||||||||||||||||||||||
Consumer(1) | 26,763 | 0 | 172 | 363 | 27,298 | ||||||||||||||||||||||||||||
Direct financing leases | 80,967 | 992 | 0 | 25 | 81,984 | ||||||||||||||||||||||||||||
Other(1) | 74,221 | 4,005 | 132 | 75 | 78,433 | ||||||||||||||||||||||||||||
Total | $ | 2,056,383 | $ | 344,268 | $ | 93,374 | $ | 28,564 | $ | 2,522,589 | |||||||||||||||||||||||
-1 | The Company does not risk rate its residential 1-4 family loans, its consumer loans, and certain “other” loans. However, for purposes of the above table, the Company considers such loans to be (i) satisfactory – if they are performing and less than 30 days past due, (ii) watch – if they are performing and 30 to 89 days past due or (iii) substandard – if they are nonperforming or 90 days or more past due. | ||||||||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
FV 1 | FV 2 | Total | |||||||||||||||||||||||||||||||
Covered | |||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 86,067 | $ | 2,208 | $ | 88,275 | |||||||||||||||||||||||||||
Non-farm/non-residential | 107,046 | 6,587 | 113,633 | ||||||||||||||||||||||||||||||
Construction/land development | 23,970 | 3,648 | 27,618 | ||||||||||||||||||||||||||||||
Agricultural | 9,539 | 338 | 9,877 | ||||||||||||||||||||||||||||||
Multifamily residential | 3,513 | 315 | 3,828 | ||||||||||||||||||||||||||||||
Commercial and industrial | 4,819 | 535 | 5,354 | ||||||||||||||||||||||||||||||
Consumer | 61 | 3 | 64 | ||||||||||||||||||||||||||||||
Other | 153 | 0 | 153 | ||||||||||||||||||||||||||||||
Total | $ | 235,168 | $ | 13,634 | $ | 248,802 | |||||||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 105,218 | $ | 5,835 | $ | 111,053 | |||||||||||||||||||||||||||
Non-farm/non-residential | 138,573 | 25,135 | 163,708 | ||||||||||||||||||||||||||||||
Construction/land development | 33,475 | 14,267 | 47,742 | ||||||||||||||||||||||||||||||
Agricultural | 10,807 | 343 | 11,150 | ||||||||||||||||||||||||||||||
Multifamily residential | 8,709 | 457 | 9,166 | ||||||||||||||||||||||||||||||
Commercial and industrial | 8,582 | 137 | 8,719 | ||||||||||||||||||||||||||||||
Consumer | 106 | 5 | 111 | ||||||||||||||||||||||||||||||
Other | 142 | 0 | 142 | ||||||||||||||||||||||||||||||
Total | $ | 305,612 | $ | 46,179 | $ | 351,791 | |||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 114,163 | $ | 6,378 | $ | 120,541 | |||||||||||||||||||||||||||
Non-farm/non-residential | 171,886 | 25,566 | 197,452 | ||||||||||||||||||||||||||||||
Construction/land development | 40,172 | 19,215 | 59,387 | ||||||||||||||||||||||||||||||
Agricultural | 11,203 | 1,138 | 12,341 | ||||||||||||||||||||||||||||||
Multifamily residential | 9,153 | 215 | 9,368 | ||||||||||||||||||||||||||||||
Commercial and industrial | 9,877 | 57 | 9,934 | ||||||||||||||||||||||||||||||
Consumer | 132 | 6 | 138 | ||||||||||||||||||||||||||||||
Other | 158 | 0 | 158 | ||||||||||||||||||||||||||||||
Total | $ | 356,744 | $ | 52,575 | $ | 409,319 | |||||||||||||||||||||||||||
The following table is a summary of credit quality indicators for the Company’s purchased non-covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
Purchased Non-Covered Loans Without | Purchased Non-Covered | Total | |||||||||||||||||||||||||||||||
Evidence of Credit Deterioration at Acquisition | Loans With Evidence of | Purchased | |||||||||||||||||||||||||||||||
Credit Deterioration at | Non-Covered | ||||||||||||||||||||||||||||||||
Acquisition | |||||||||||||||||||||||||||||||||
FV 33 | FV 44 | FV 55 | FV 36 | FV 77 | FV 66 | FV 88 | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 74,617 | $ | 81,344 | $ | 30,058 | $ | 75,815 | $ | 143 | $ | 17,236 | $ | 60 | $ | 279,273 | |||||||||||||||||
Non-farm/non-residential | 200,653 | 194,295 | 32,819 | 3,283 | 505 | 30,742 | 87 | 462,384 | |||||||||||||||||||||||||
Construction/land development | 28,857 | 33,070 | 9,607 | 13,783 | 9 | 9,011 | 0 | 94,337 | |||||||||||||||||||||||||
Agricultural | 12,510 | 26,723 | 3,053 | 1,933 | 0 | 189 | 0 | 44,408 | |||||||||||||||||||||||||
Multifamily residential | 9,877 | 13,019 | 7,226 | 940 | 72 | 2,764 | 781 | 34,679 | |||||||||||||||||||||||||
Total real estate | 326,514 | 348,451 | 82,763 | 95,754 | 729 | 59,942 | 928 | 915,081 | |||||||||||||||||||||||||
Commercial and industrial | 23,424 | 27,645 | 7,282 | 13,284 | 0 | 5,066 | 0 | 76,701 | |||||||||||||||||||||||||
Consumer | 2,498 | 884 | 627 | 16,023 | 0 | 429 | 0 | 20,461 | |||||||||||||||||||||||||
Other | 5,105 | 8,369 | 735 | 3,776 | 0 | 760 | 0 | 18,745 | |||||||||||||||||||||||||
Total | $ | 357,541 | $ | 385,349 | $ | 91,407 | $ | 128,837 | $ | 729 | $ | 66,197 | $ | 928 | $ | 1,030,988 | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 27,111 | $ | 32,259 | $ | 21,035 | $ | 35,733 | $ | 0 | $ | 14,947 | $ | 0 | $ | 131,085 | |||||||||||||||||
Non-farm/non-residential | 42,193 | 72,621 | 20,685 | 1,191 | 0 | 16,258 | 0 | 152,948 | |||||||||||||||||||||||||
Construction/land development | 5,930 | 8,106 | 2,137 | 4,553 | 0 | 4,907 | 0 | 25,633 | |||||||||||||||||||||||||
Agricultural | 1,547 | 6,619 | 823 | 164 | 0 | 365 | 0 | 9,518 | |||||||||||||||||||||||||
Multifamily residential | 3,531 | 5,565 | 5,268 | 959 | 0 | 1,887 | 0 | 17,210 | |||||||||||||||||||||||||
Total real estate | 80,312 | 125,170 | 49,948 | 42,600 | 0 | 38,364 | 0 | 336,394 | |||||||||||||||||||||||||
Commercial and industrial | 9,592 | 9,730 | 2,250 | 1,879 | 0 | 1,483 | 0 | 24,934 | |||||||||||||||||||||||||
Consumer | 1,013 | 141 | 171 | 4,794 | 0 | 736 | 0 | 6,855 | |||||||||||||||||||||||||
Other | 1,202 | 2,897 | 157 | 237 | 0 | 47 | 0 | 4,540 | |||||||||||||||||||||||||
Total | $ | 92,119 | $ | 137,938 | $ | 52,526 | $ | 49,510 | $ | 0 | $ | 40,630 | $ | 0 | $ | 372,723 | |||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 28,486 | $ | 34,113 | $ | 21,592 | $ | 36,221 | $ | 0 | $ | 16,311 | $ | 0 | $ | 136,723 | |||||||||||||||||
Non-farm/non-residential | 46,201 | 71,637 | 25,591 | 3,509 | 0 | 16,786 | 0 | 163,724 | |||||||||||||||||||||||||
Construction/land development | 5,973 | 8,578 | 2,495 | 4,680 | 0 | 5,052 | 0 | 26,778 | |||||||||||||||||||||||||
Agricultural | 2,109 | 6,705 | 851 | 173 | 0 | 242 | 0 | 10,080 | |||||||||||||||||||||||||
Multifamily residential | 3,621 | 5,662 | 5,322 | 978 | 0 | 2,419 | 0 | 18,002 | |||||||||||||||||||||||||
Total real estate | 86,390 | 126,695 | 55,851 | 45,561 | 0 | 40,810 | 0 | 355,307 | |||||||||||||||||||||||||
Commercial and industrial | 10,684 | 10,793 | 3,150 | 4,004 | 0 | 1,598 | 0 | 30,229 | |||||||||||||||||||||||||
Consumer | 1,980 | 147 | 181 | 5,990 | 0 | 878 | 0 | 9,176 | |||||||||||||||||||||||||
Other | 1,333 | 2,323 | 163 | 329 | 0 | 198 | 0 | 4,346 | |||||||||||||||||||||||||
Total | $ | 100,387 | $ | 139,958 | $ | 59,345 | $ | 55,884 | $ | 0 | $ | 43,484 | $ | 0 | $ | 399,058 | |||||||||||||||||
Schedule of Aging Analysis Past Due Loans and Leases, Loans Covered & Non-Covered by FDIC Loss Share Agreements | ' | ||||||||||||||||||||||||||||||||
The following table is an aging analysis of past due non-purchased loans and leases as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current (3) | Total | |||||||||||||||||||||||||||||
Past Due (1) | or More (2) | Past Due | |||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,203 | $ | 1,230 | $ | 5,433 | $ | 272,908 | $ | 278,341 | |||||||||||||||||||||||
Non-farm/non-residential | 879 | 1,432 | 2,311 | 1,370,983 | 1,373,294 | ||||||||||||||||||||||||||||
Construction/land development | 1,854 | 10,017 | 11,871 | 1,221,382 | 1,233,253 | ||||||||||||||||||||||||||||
Agricultural | 1,574 | 192 | 1,766 | 44,955 | 46,721 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 0 | 0 | 155,940 | 155,940 | ||||||||||||||||||||||||||||
Commercial and industrial | 813 | 28 | 841 | 312,451 | 313,292 | ||||||||||||||||||||||||||||
Consumer | 295 | 35 | 330 | 25,069 | 25,399 | ||||||||||||||||||||||||||||
Direct financing leases | 0 | 0 | 0 | 109,059 | 109,059 | ||||||||||||||||||||||||||||
Other | 12 | 0 | 12 | 103,831 | 103,843 | ||||||||||||||||||||||||||||
Total | $ | 9,630 | $ | 12,934 | $ | 22,564 | $ | 3,616,578 | $ | 3,639,142 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,228 | $ | 2,004 | $ | 6,232 | $ | 243,324 | $ | 249,556 | |||||||||||||||||||||||
Non-farm/non-residential | 2,093 | 1,867 | 3,960 | 1,100,154 | 1,104,114 | ||||||||||||||||||||||||||||
Construction/land development | 235 | 153 | 388 | 722,169 | 722,557 | ||||||||||||||||||||||||||||
Agricultural | 517 | 540 | 1,057 | 44,139 | 45,196 | ||||||||||||||||||||||||||||
Multifamily residential | 773 | 0 | 773 | 207,564 | 208,337 | ||||||||||||||||||||||||||||
Commercial and industrial | 418 | 31 | 449 | 123,619 | 124,068 | ||||||||||||||||||||||||||||
Consumer | 261 | 78 | 339 | 25,843 | 26,182 | ||||||||||||||||||||||||||||
Direct financing leases | 0 | 0 | 0 | 86,321 | 86,321 | ||||||||||||||||||||||||||||
Other | 18 | 24 | 42 | 66,192 | 66,234 | ||||||||||||||||||||||||||||
Total | $ | 8,543 | $ | 4,697 | $ | 13,240 | $ | 2,619,325 | $ | 2,632,565 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 1,661 | $ | 2,376 | $ | 4,037 | $ | 246,989 | $ | 251,026 | |||||||||||||||||||||||
Non-farm/non-residential | 2,321 | 3,312 | 5,633 | 1,029,985 | 1,035,618 | ||||||||||||||||||||||||||||
Construction/land development | 1,662 | 136 | 1,798 | 712,400 | 714,198 | ||||||||||||||||||||||||||||
Agricultural | 322 | 571 | 893 | 47,060 | 47,953 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 310 | 310 | 163,606 | 163,916 | ||||||||||||||||||||||||||||
Commercial and industrial | 349 | 131 | 480 | 121,683 | 122,163 | ||||||||||||||||||||||||||||
Consumer | 177 | 66 | 243 | 27,055 | 27,298 | ||||||||||||||||||||||||||||
Direct financing leases | 111 | 25 | 136 | 81,848 | 81,984 | ||||||||||||||||||||||||||||
Other | 17 | 0 | 17 | 78,416 | 78,433 | ||||||||||||||||||||||||||||
Total | $ | 6,620 | $ | 6,927 | $ | 13,547 | $ | 2,509,042 | $ | 2,522,589 | |||||||||||||||||||||||
-1 | Includes $0.9 million, $0.8 million and $0.4 million of loans and leases on nonaccrual status at September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
-2 | All loans and leases greater than 90 days past due were on nonaccrual status at September 30, 2014 and 2013 and December 31, 2013. | ||||||||||||||||||||||||||||||||
-3 | Includes $3.9 million, $3.2 million and $3.1 million of loans and leases on nonaccrual status at September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||||||
The following table is an aging analysis of past due covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current | Total | |||||||||||||||||||||||||||||
Past Due | or More | Past Due | Covered | ||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 3,075 | $ | 7,298 | $ | 10,373 | $ | 77,902 | $ | 88,275 | |||||||||||||||||||||||
Non-farm/non-residential | 3,481 | 8,112 | 11,593 | 102,040 | 113,633 | ||||||||||||||||||||||||||||
Construction/land development | 922 | 5,008 | 5,930 | 21,688 | 27,618 | ||||||||||||||||||||||||||||
Agricultural | 0 | 1,652 | 1,652 | 8,225 | 9,877 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 0 | 0 | 3,828 | 3,828 | ||||||||||||||||||||||||||||
Commercial and industrial | 9 | 603 | 612 | 4,742 | 5,354 | ||||||||||||||||||||||||||||
Consumer | 10 | 0 | 10 | 54 | 64 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 153 | 153 | ||||||||||||||||||||||||||||
Total | $ | 7,497 | $ | 22,673 | $ | 30,170 | $ | 218,632 | $ | 248,802 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 5,341 | $ | 12,409 | $ | 17,750 | $ | 93,303 | $ | 111,053 | |||||||||||||||||||||||
Non-farm/non-residential | 6,954 | 32,462 | 39,416 | 124,292 | 163,708 | ||||||||||||||||||||||||||||
Construction/land development | 2,173 | 20,914 | 23,087 | 24,655 | 47,742 | ||||||||||||||||||||||||||||
Agricultural | 237 | 1,328 | 1,565 | 9,585 | 11,150 | ||||||||||||||||||||||||||||
Multifamily residential | 375 | 3,240 | 3,615 | 5,551 | 9,166 | ||||||||||||||||||||||||||||
Commercial and industrial | 605 | 2,001 | 2,606 | 6,113 | 8,719 | ||||||||||||||||||||||||||||
Consumer | 10 | 0 | 10 | 101 | 111 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 142 | 142 | ||||||||||||||||||||||||||||
Total | $ | 15,695 | $ | 72,354 | $ | 88,049 | $ | 263,742 | $ | 351,791 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,260 | $ | 13,658 | $ | 19,918 | $ | 100,623 | $ | 120,541 | |||||||||||||||||||||||
Non-farm/non-residential | 8,557 | 39,841 | 48,398 | 149,054 | 197,452 | ||||||||||||||||||||||||||||
Construction/land development | 848 | 27,584 | 28,432 | 30,955 | 59,387 | ||||||||||||||||||||||||||||
Agricultural | 1,234 | 1,250 | 2,484 | 9,857 | 12,341 | ||||||||||||||||||||||||||||
Multifamily residential | 195 | 3,689 | 3,884 | 5,484 | 9,368 | ||||||||||||||||||||||||||||
Commercial and industrial | 27 | 2,961 | 2,988 | 6,946 | 9,934 | ||||||||||||||||||||||||||||
Consumer | 0 | 2 | 2 | 136 | 138 | ||||||||||||||||||||||||||||
Other | 0 | 0 | 0 | 158 | 158 | ||||||||||||||||||||||||||||
Total | $ | 17,121 | $ | 88,985 | $ | 106,106 | $ | 303,213 | $ | 409,319 | |||||||||||||||||||||||
The following table is an aging analysis of past due purchased non-covered loans as of the dates indicated. | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days | Total | Current | Total | |||||||||||||||||||||||||||||
Past Due | or More | Past Due | Purchased | ||||||||||||||||||||||||||||||
Non-Covered | |||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,026 | $ | 6,220 | $ | 12,246 | $ | 267,027 | $ | 279,273 | |||||||||||||||||||||||
Non-farm/non-residential | 1,706 | 9,449 | 11,155 | 451,229 | 462,384 | ||||||||||||||||||||||||||||
Construction/land development | 855 | 1,476 | 2,331 | 92,006 | 94,337 | ||||||||||||||||||||||||||||
Agriculture | 211 | 146 | 357 | 44,051 | 44,408 | ||||||||||||||||||||||||||||
Multifamily residential | 0 | 1,228 | 1,228 | 33,451 | 34,679 | ||||||||||||||||||||||||||||
Commercial and industrial | 791 | 269 | 1,060 | 75,641 | 76,701 | ||||||||||||||||||||||||||||
Consumer | 196 | 159 | 355 | 20,106 | 20,461 | ||||||||||||||||||||||||||||
Other | 73 | 31 | 104 | 18,641 | 18,745 | ||||||||||||||||||||||||||||
Total | $ | 9,858 | $ | 18,978 | $ | 28,836 | $ | 1,002,152 | $ | 1,030,988 | |||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 6,615 | $ | 4,703 | $ | 11,318 | $ | 119,767 | $ | 131,085 | |||||||||||||||||||||||
Non-farm/non-residential | 4,886 | 5,779 | 10,665 | 142,283 | 152,948 | ||||||||||||||||||||||||||||
Construction/land development | 265 | 4,045 | 4,310 | 21,323 | 25,633 | ||||||||||||||||||||||||||||
Agriculture | 134 | 25 | 159 | 9,359 | 9,518 | ||||||||||||||||||||||||||||
Multifamily residential | 421 | 1,225 | 1,646 | 15,564 | 17,210 | ||||||||||||||||||||||||||||
Commercial and industrial | 614 | 388 | 1,002 | 23,932 | 24,934 | ||||||||||||||||||||||||||||
Consumer | 411 | 237 | 648 | 6,207 | 6,855 | ||||||||||||||||||||||||||||
Other | 0 | 33 | 33 | 4,507 | 4,540 | ||||||||||||||||||||||||||||
Total | $ | 13,346 | $ | 16,435 | $ | 29,781 | $ | 342,942 | $ | 372,723 | |||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||||
Residential 1-4 family | $ | 4,026 | $ | 3,647 | $ | 7,673 | $ | 129,050 | $ | 136,723 | |||||||||||||||||||||||
Non-farm/non-residential | 3,319 | 4,136 | 7,455 | 156,269 | 163,724 | ||||||||||||||||||||||||||||
Construction/land development | 4,601 | 7,367 | 11,968 | 14,810 | 26,778 | ||||||||||||||||||||||||||||
Agriculture | 0 | 101 | 101 | 9,979 | 10,080 | ||||||||||||||||||||||||||||
Multifamily residential | 177 | 1,326 | 1,503 | 16,499 | 18,002 | ||||||||||||||||||||||||||||
Commercial and industrial | 357 | 535 | 892 | 29,337 | 30,229 | ||||||||||||||||||||||||||||
Consumer | 310 | 223 | 533 | 8,643 | 9,176 | ||||||||||||||||||||||||||||
Other | 38 | 182 | 220 | 4,126 | 4,346 | ||||||||||||||||||||||||||||
Total | $ | 12,828 | $ | 17,517 | $ | 30,345 | $ | 368,713 | $ | 399,058 | |||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Types of Temporary Differences Between Tax Basis of Assets and Liabilities | ' | ||||||||||||
The following table is a summary of the types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities and their approximate tax effects as of the dates indicated. | |||||||||||||
September 30, | December 31, | ||||||||||||
2014 | 2013 | 2013 | |||||||||||
(Dollars in thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan and lease losses | $ | 19,052 | $ | 16,080 | $ | 16,576 | |||||||
Differences in amounts reflected in financial statements and income tax basis of purchased non-covered loans | 24,769 | 19,563 | 17,167 | ||||||||||
Stock-based compensation | 3,811 | 2,724 | 2,400 | ||||||||||
Deferred compensation | 1,962 | 1,792 | 1,775 | ||||||||||
Foreclosed assets | 5,195 | 3,318 | 3,165 | ||||||||||
Investment securities AFS | 0 | 3,116 | 5,056 | ||||||||||
Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in FDIC-assisted acquisitions | 8,708 | 607 | 3,424 | ||||||||||
Acquired net operating losses | 13,976 | 7,905 | 7,509 | ||||||||||
Other, net | 7,310 | 1,950 | 3,858 | ||||||||||
Total gross deferred tax assets | 84,783 | 57,055 | 60,930 | ||||||||||
Less valuation allowance | (474 | ) | 0 | 0 | |||||||||
Net deferred tax asset | 84,309 | 57,055 | 60,930 | ||||||||||
Deferred tax liabilities: | |||||||||||||
Accelerated depreciation on premises and equipment | 17,933 | 16,952 | 17,459 | ||||||||||
Investment securities AFS | 5,499 | 0 | 0 | ||||||||||
Acquired intangible assets | 10,466 | 4,390 | 4,227 | ||||||||||
Total gross deferred tax liabilities | 33,898 | 21,342 | 21,686 | ||||||||||
Net deferred tax assets (liabilities) | $ | 50,411 | $ | 35,713 | $ | 39,244 | |||||||
Supplemental_Data_for_Cash_Flo1
Supplemental Data for Cash Flows (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Schedule of Supplemental Cash Flow Information | ' | ||||||||
The following table provides supplemental cash flow information for the periods indicated. | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2014 | 2013 | ||||||||
(Dollars in thousands) | |||||||||
Cash paid during the period for: | |||||||||
Interest | $ | 15,450 | $ | 14,038 | |||||
Taxes | 30,834 | 35,515 | |||||||
Supplemental schedule of non-cash investing and financing activities: | |||||||||
Net change in unrealized gains/losses on investment securities AFS | 23,687 | (18,488 | ) | ||||||
Loans and other assets transferred to foreclosed assets not covered by FDIC loss share agreements | 9,112 | 4,497 | |||||||
Loans advanced for sales of foreclosed assets not covered by FDIC loss share agreements | 258 | 2,942 | |||||||
Covered loans transferred to covered foreclosed assets | 30,754 | 24,306 | |||||||
Unsettled AFS investment security purchases | 0 | 730 | |||||||
Common stock issued in merger and acquisition transactions | 166,402 | 60,079 |
Guarantees_and_Commitments_Tab
Guarantees and Commitments (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Contractual Maturities | ' | ||||
While many of these commitments are expected to be disbursed within the next 12 months, the following table shows the contractual maturities of outstanding commitments to extend credit as of the date indicated. | |||||
Contractual Maturities at September 30, 2014 | |||||
Maturity | Amount | ||||
(Dollars in thousands) | |||||
2014 | $ | 89,808 | |||
2015 | 209,595 | ||||
2016 | 492,517 | ||||
2017 | 1,259,690 | ||||
2018 | 485,222 | ||||
Thereafter | 47,613 | ||||
Total | $ | 2,584,445 | |||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
The following table summarizes stock option activity for both the employee and non-employee director stock option plans for the period indicated. | |||||||||||||||||
Options | Weighted- | Weighted-Average | Aggregate | ||||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise | Contractual Life | Value | |||||||||||||||
Price/Share | (in years) | (in thousands) | |||||||||||||||
Nine Months Ended September 30, 2014: | |||||||||||||||||
Outstanding – January 1, 2014 | 1,766,600 | $ | 15.84 | ||||||||||||||
Granted | 52,000 | 29.05 | |||||||||||||||
Exercised | (228,600 | ) | 9.05 | ||||||||||||||
Forfeited | (48,800 | ) | 18.36 | ||||||||||||||
Outstanding – September 30, 2014 | 1,541,200 | 17.21 | 5.2 | $ | 22,058 | (1) | |||||||||||
Fully vested and exercisable – September 30, 2014 | 305,600 | 13.65 | 5.2 | $ | 5,460 | (1) | |||||||||||
Expected to vest in future periods | 989,280 | ||||||||||||||||
Fully vested and expected to vest – September 30, 2014(2) | 1,294,880 | 17.04 | 5.2 | $ | 18,744 | (1) | |||||||||||
-1 | Based on closing price of $31.52 per share on September 30, 2014. | ||||||||||||||||
-2 | At September 30, 2014 the Company estimated that outstanding options to purchase 246,320 shares of its common stock would not vest and would be forfeited prior to their vesting date. | ||||||||||||||||
Summary of Non-Vested Restricted Stock Activity | ' | ||||||||||||||||
The following table summarizes non-vested restricted stock activity for the period indicated. | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Outstanding – January 1, 2014 | 616,100 | ||||||||||||||||
Granted | 0 | ||||||||||||||||
Forfeited | (1,200 | ) | |||||||||||||||
Vested | 0 | ||||||||||||||||
Outstanding – September 30, 2014 | 614,900 | ||||||||||||||||
Weighted-average grant date fair value | $ | 17.99 | |||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets at Fair Value | ' | ||||||||||||||||
The following table sets forth the Company’s assets, for the dates indicated, that are accounted for at fair value. | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
September 30, 2014: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 568,021 | $ | 19,558 | $ | 587,579 | |||||||||
U.S. Government agency securities | 0 | 254,062 | 0 | 254,062 | |||||||||||||
Corporate obligations | 0 | 655 | 0 | 655 | |||||||||||||
Total investment securities AFS | 0 | 822,738 | 19,558 | $ | 842,296 | ||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 14,835 | 14,835 | |||||||||||||
Impaired covered loans | 0 | 0 | 13,634 | 13,634 | |||||||||||||
Impaired purchased non-covered loans | 0 | 0 | 1,657 | 1,657 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 14,781 | 14,781 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 27,882 | 27,882 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 822,738 | $ | 92,347 | $ | 915,085 | |||||||||
December 31, 2013: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 417,307 | $ | 18,682 | $ | 435,989 | |||||||||
U.S. Government agency securities | 0 | 218,869 | 0 | 218,869 | |||||||||||||
Corporate obligations | 0 | 716 | 0 | 716 | |||||||||||||
Total investment securities AFS | 0 | 636,892 | 18,682 | 655,574 | |||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 6,746 | 6,746 | |||||||||||||
Impaired covered loans | 0 | 0 | 46,179 | 46,179 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 11,851 | 11,851 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 37,960 | 37,960 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 636,892 | $ | 121,418 | $ | 758,310 | |||||||||
September 30, 2013: | |||||||||||||||||
Investment securities AFS(1): | |||||||||||||||||
Obligations of state and political subdivisions | $ | 0 | $ | 412,770 | $ | 18,798 | $ | 431,568 | |||||||||
U.S. Government agency securities | 0 | 225,311 | 0 | 225,311 | |||||||||||||
Corporate obligations | 0 | 717 | 0 | 717 | |||||||||||||
Total investment securities AFS | 0 | 638,798 | 18,798 | 657,596 | |||||||||||||
Impaired non-purchased loans and leases | 0 | 0 | 8,074 | 8,074 | |||||||||||||
Impaired covered loans | 0 | 0 | 52,575 | 52,575 | |||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 11,647 | 11,647 | |||||||||||||
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 40,452 | 40,452 | |||||||||||||
Total assets at fair value | $ | 0 | $ | 638,798 | $ | 131,546 | $ | 770,344 | |||||||||
-1 | Does not include $17.6 million at September 30, 2014; $13.8 million at December 31, 2013 and $13.8 million at September 30, 2013 of FHLB – Dallas and FNBB stock that do not have readily determinable fair values and are carried at cost. | ||||||||||||||||
Schedule of Information Related to Level 3 Non-Recurring Fair Value Measurements | ' | ||||||||||||||||
The following table presents information related to Level 3 non-recurring fair value measurements as of the date indicated. | |||||||||||||||||
Description | Fair Value at | Technique | Unobservable Inputs | ||||||||||||||
September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Impaired non-purchased loans and leases | $14,835 | Third party appraisal(1) or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Life of loan | |||||||||||||||||
Impaired covered loans | $13,634 | Third party appraisal(1) and/or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Life of loan | |||||||||||||||||
3. Discount rate | |||||||||||||||||
Impaired purchased non-covered loans | $1,657 | Third party appraisal(1) and/or discounted cash flows | 1. Management discount based on underlying collateral characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
Foreclosed assets not covered by FDIC loss share agreements | $14,781 | Third party appraisal,(1) broker price opinions and/or discounted cash flows | 1. Management discount based on asset characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
Foreclosed assets covered by FDIC loss share agreements | $27,882 | Third party appraisal,(1) broker price opinions and/or discounted cash flows | 1. Management discount based on asset characteristics and market conditions | ||||||||||||||
2. Discount rate | |||||||||||||||||
3. Holding period | |||||||||||||||||
-1 | The Company utilizes valuation techniques consistent with the market, cost, and income approaches, or a combination thereof in determining fair value. | ||||||||||||||||
Assets Measured at Fair Value on Recurring Basis Utilizing Level 3 Inputs | ' | ||||||||||||||||
The following table presents additional information for the periods indicated about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. | |||||||||||||||||
Investment | |||||||||||||||||
Securities AFS | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Balance – January 1, 2014 | $ | 18,682 | |||||||||||||||
Total realized gains (losses) included in earnings | 0 | ||||||||||||||||
Total unrealized gains (losses) included in comprehensive income | 497 | ||||||||||||||||
Acquired | 1,907 | ||||||||||||||||
Paydowns and maturities | (672 | ) | |||||||||||||||
Sales | (856 | ) | |||||||||||||||
Transfers in and/or out of Level 3 | 0 | ||||||||||||||||
Balance – September 30, 2014 | $ | 19,558 | |||||||||||||||
Balance – January 1, 2013 | $ | 104,172 | |||||||||||||||
Total realized gains (losses) included in earnings | 0 | ||||||||||||||||
Total unrealized gains (losses) included in comprehensive income | (1,940 | ) | |||||||||||||||
Paydowns and maturities | (32,647 | ) | |||||||||||||||
Sales | 0 | ||||||||||||||||
Transfers in and/or out of Level 3 | (50,787 | ) | |||||||||||||||
Balance –September 30, 2013 | $ | 18,798 | |||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||||||||
The following table presents the carrying amounts and estimated fair values for the dates indicated and the fair value hierarchy of the Company’s financial instruments. | |||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||
2014 | 2013 | December 31, 2013 | |||||||||||||||||||||||||
Fair | Carrying | Estimated | Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||
Value | Amount | Fair | Amount | Fair | Amount | Fair | |||||||||||||||||||||
Hierarchy | Value | Value | Value | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 112,084 | $ | 112,084 | $ | 124,458 | $ | 124,458 | $ | 195,975 | $ | 195,975 | ||||||||||||||
Investment securities AFS | Levels 2 and 3 | 859,876 | 859,876 | 671,393 | 671,393 | 669,384 | 669,384 | ||||||||||||||||||||
Loans and leases, net of ALLL | Level 3 | 4,869,329 | 4,822,383 | 3,289,306 | 3,263,428 | 3,314,134 | 3,286,600 | ||||||||||||||||||||
FDIC loss share receivable | Level 3 | 36,583 | 36,130 | 89,642 | 89,617 | 71,854 | 71,770 | ||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||
Demand, savings and interest bearing transaction deposits | Level 1 | $ | 3,877,373 | $ | 3,877,373 | $ | 2,677,030 | $ | 2,677,030 | $ | 2,819,817 | $ | 2,819,817 | ||||||||||||||
Time deposits | Level 2 | 1,262,332 | 1,263,635 | 977,656 | 978,202 | 897,210 | 897,708 | ||||||||||||||||||||
Repurchase agreements with customers | Level 1 | 73,942 | 73,942 | 50,254 | 50,254 | 53,103 | 53,103 | ||||||||||||||||||||
Other borrowings | Level 2 | 352,616 | 373,696 | 280,905 | 322,171 | 280,895 | 319,650 | ||||||||||||||||||||
FDIC clawback payable | Level 3 | 26,676 | 26,676 | 25,705 | 25,705 | 25,897 | 25,897 | ||||||||||||||||||||
Subordinated debentures | Level 2 | 64,950 | 33,452 | 64,950 | 30,815 | 64,950 | 30,974 |
Changes_In_and_Reclassificatio1
Changes In and Reclassifications From Accumulated Other Comprehensive Income ("AOCI") (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income | ' | ||||||||||||||||
The following table presents changes in AOCI for the dates indicated. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Beginning balance of AOCI – unrealized gains and losses on investment securities AFS | $ | 10,006 | $ | (898 | ) | $ | (3,672 | ) | $ | 10,783 | |||||||
Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | 744 | 445 | 14,437 | (11,142 | ) | ||||||||||||
Amounts reclassified from AOCI | (26 | ) | 0 | (41 | ) | (94 | ) | ||||||||||
Total other comprehensive income (loss) | 718 | 445 | 14,396 | (11,236 | ) | ||||||||||||
Ending balance of AOCI – unrealized gains and losses on investment securities AFS | $ | 10,724 | $ | (453 | ) | $ | 10,724 | $ | (453 | ) | |||||||
Organization_and_Principles_of1
Organization and Principles of Consolidation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Office | |
Trust | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Ownership interest owned finance subsidiary business trusts | 100.00% |
Number of finance subsidiary trusts | 4 |
Number of offices | 165 |
Arkansas [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 88 |
Georgia [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 28 |
Texas [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 21 |
North Carolina [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 17 |
Florida [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 5 |
Alabama [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 3 |
South Carolina [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 1 |
New York [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 1 |
California | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of offices | 1 |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | 0 Months Ended | 9 Months Ended |
Jun. 23, 2014 | Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' | ' |
Stock split date | ' | 23-Jun-14 |
Stock split ratio as of stock split date | 2 | ' |
Number of shares effected by issuing shares, stock split | 1 | ' |
Number of months management has to finalize the fair values of acquired assets and assumed liabilities | ' | '12 months |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Mar. 05, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jul. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 31, 2014 | Sep. 30, 2014 | 16-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 16-May-14 | 16-May-14 | Mar. 05, 2014 | Mar. 05, 2014 | Mar. 05, 2014 | Mar. 05, 2014 | Mar. 05, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Bancshares Inc [Member] | Bancshares Inc [Member] | Bancshares Inc [Member] | First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | Intervest Bancshares Corporation [Member] | Intervest Bancshares Corporation [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Intervest National Bank (INB) [Member] | Minimum [Member] | Maximum [Member] | Central South And Western Arkansas [Member] | Arkansas Counties [Member] | Houston [Member] | Austin [Member] | Cedar Park [Member] | Lockhart [Member] | San Antonio Texas [Member] | Clearwater [Member] | New York [Member] | Pasadena [Member] | |||||||
Office | Office | Office | Intervest Bancshares Corporation [Member] | Intervest Bancshares Corporation [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Office | Office | Office | Office | Office | Intervest National Bank (INB) [Member] | Intervest National Bank (INB) [Member] | Intervest National Bank (INB) [Member] | ||||||||||||||||
Office | Country | Office | Office | Office | ||||||||||||||||||||||||||
Office | ||||||||||||||||||||||||||||||
Business Acquisition Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total transaction value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $228,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of definitive agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total asset | 6,580,360,000 | 4,710,567,000 | 6,580,360,000 | 4,710,567,000 | 4,791,170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,510,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,180,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment securities | 859,876,000 | 671,393,000 | 859,876,000 | 671,393,000 | 669,384,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits | 5,139,705,000 | 3,654,686,000 | 5,139,705,000 | 3,654,686,000 | 3,717,027,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,210,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of bank offices | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | ' | ' | ' | ' | ' | 7 | ' | ' | 23 | ' | 3 | 1 | 1 | 1 | 1 | 5 | 1 | 1 |
Average closing stock price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23.95 | $39.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Measurement period for determining the average closing stock price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Fifth business day | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days for calculation of average closing stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of acquisition | ' | ' | ' | ' | ' | ' | 5-Mar-14 | ' | ' | 31-Jul-13 | ' | ' | ' | ' | 16-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration | ' | ' | ' | ' | ' | ' | 21,500,000 | ' | ' | 8,400,000 | ' | ' | ' | ' | 42,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,514,770 | ' | ' | ' | ' | 5,765,846 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loan production office | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Arkansas countries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of banking offices closed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loan production office closed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,400,000 | 73,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | 74,621,000 | 50,633,000 | 191,819,000 | 138,237,000 | ' | ' | ' | 2,100,000 | 5,500,000 | ' | ' | ' | ' | ' | ' | 10,900,000 | 16,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 32,080,000 | 26,485,000 | 83,826,000 | 66,875,000 | ' | ' | ' | 1,100,000 | 7,500,000 | ' | ' | ' | ' | ' | ' | 5,000,000 | 7,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax-exempt bargain purchase gain | 0 | 5,163,000 | 4,667,000 | 5,163,000 | ' | ' | ' | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of real property from party | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of office closed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in bargain purchase gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax valuation allowance, initially established | ' | ' | ' | ' | ' | $4,100,000 | ' | ' | ' | ' | $4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Summary_of_Assets
Acquisitions - Summary of Assets Acquired and Liabilities Assumed in Acquisition (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | 16-May-14 | Sep. 30, 2014 | 16-May-14 | 16-May-14 | Mar. 05, 2014 | Jul. 31, 2013 | Mar. 05, 2014 | Mar. 05, 2014 | Sep. 30, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | |||
Recast Adjustment [Member] | Recast Adjustment [Member] | Summit Bancorp, Inc. [Member] | Summit Bancorp, Inc. [Member] | Fair Value Adjustments Summit Bancorp Inc [Member] | As recorded by the Company [Member] | As recorded by the Company [Member] | As recorded by the Company [Member] | Bancshares Inc [Member] | Fair Value Adjustments Bancshares Inc [Member] | First National Bank [Member] | First National Bank [Member] | Fair Value Adjustments First National Bank [Member] | ||||||||
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Cash and due from banks | ' | ' | ' | ' | ' | $0 | $84,106 | ' | ($304) | [1] | $83,802 | $102,156 | $69,285 | $102,156 | $0 | ' | $69,285 | $0 | ||
Investment securities | ' | ' | ' | ' | ' | 0 | 242,149 | ' | 765 | [2] | 242,914 | 1,859 | 149,344 | 1,860 | -1 | [2] | ' | 149,943 | -599 | [2] |
Loans and leases | ' | ' | ' | ' | ' | 0 | 742,546 | ' | -24,718 | [3] | 717,828 | 155,175 | 388,067 | 165,939 | -10,764 | [3] | ' | 432,250 | -44,183 | [3] |
Allowance for loan losses | ' | ' | ' | ' | ' | 0 | -13,183 | ' | 13,183 | [3] | 0 | 0 | 0 | -5,280 | 5,280 | [3] | ' | -13,931 | 13,931 | [3] |
Premises and equipment | ' | ' | ' | ' | ' | 0 | 13,773 | ' | -1,108 | [4] | 12,665 | 7,878 | 19,382 | 6,259 | 1,619 | [4] | ' | 14,318 | 5,064 | [4] |
Foreclosed assets | ' | ' | ' | ' | ' | 0 | 3,094 | ' | -1,088 | [5] | 2,006 | 4,718 | 2,158 | 7,634 | -2,916 | [5] | ' | 3,073 | -915 | [5] |
Accrued interest receivable | ' | ' | ' | ' | ' | 0 | 11,016 | ' | 1,461 | [6] | 12,477 | 314 | 1,124 | 608 | -294 | [6] | ' | 1,234 | -110 | [6] |
Bank owned life insurance | ' | ' | ' | ' | ' | 0 | 33,398 | ' | 0 | 33,398 | ' | 14,812 | ' | ' | ' | 14,812 | 0 | |||
Core deposit intangible asset | ' | ' | ' | ' | ' | 0 | 0 | ' | 15,340 | [7] | 15,340 | 2,648 | 10,136 | 0 | 2,648 | [7] | ' | 0 | 10,136 | [7] |
Deferred income taxes | ' | ' | ' | ' | ' | 4,102 | 3,878 | ' | 953 | [8] | 4,831 | 8,991 | 28,606 | 7,110 | 1,881 | [9] | ' | 12,179 | 12,325 | [10] |
Other assets | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 4,026 | ' | ' | ' | 4,277 | -251 | [6] | ||
Total assets acquired | ' | ' | ' | ' | ' | 4,102 | 1,120,777 | ' | 4,484 | 1,125,261 | 283,739 | 686,940 | 286,286 | -2,547 | ' | 687,440 | -4,602 | |||
Deposits | ' | ' | ' | ' | ' | 0 | 965,687 | ' | 4,074 | [11] | 969,761 | 255,919 | 600,618 | 255,798 | 121 | [11] | ' | 595,668 | 4,950 | [11] |
Repurchase agreements with customers | ' | ' | ' | ' | ' | 0 | 16,515 | ' | 0 | 16,515 | ' | 6,405 | ' | ' | ' | 6,405 | 0 | |||
Accrued interest payable and other liabilities | ' | ' | ' | ' | ' | 0 | 2,352 | ' | 1,206 | [12] | 3,558 | 1,653 | 2,460 | 1,358 | 295 | [13] | ' | 1,296 | 1,164 | [14] |
Total liabilities assumed | ' | ' | ' | ' | ' | 0 | 984,554 | ' | 5,280 | 989,834 | 257,572 | 609,483 | 257,156 | 416 | ' | 603,369 | 6,114 | |||
Net assets acquired | ' | ' | ' | ' | ' | 4,102 | 136,223 | ' | -796 | 135,427 | 26,167 | 77,457 | 29,130 | -2,963 | ' | 84,071 | -10,716 | |||
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,451 | ' | -12,215 | ' | ' | ' | ' | ' | |||
Common stock | ' | ' | ' | ' | ' | ' | ' | -166,315 | ' | 166,402 | ' | -60,079 | ' | ' | -59,794 | ' | ' | |||
Total consideration paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | 208,853 | -21,500 | -72,294 | ' | ' | ' | ' | ' | |||
Gain on acquisition | 0 | 5,163 | 4,667 | 5,163 | 4,102 | ' | ' | ' | ' | ' | 4,667 | 5,163 | ' | ' | ' | ' | ' | |||
Goodwill | ' | ' | ' | ' | ' | ' | ' | $73,400 | ' | $73,426 | ' | ' | ' | ' | ' | ' | ' | |||
[1] | Adjustment reflects the fair value adjustment based on the Company's evaluation of acquired interest earning deposits. | |||||||||||||||||||
[2] | Adjustment reflects the fair value adjustment based on the Company's pricing of the acquired investment securities portfolio. | |||||||||||||||||||
[3] | Adjustment reflects the fair value adjustment based on the Company's evaluation of the acquired loan portfolio and to eliminate the recorded allowance for loan losses. | |||||||||||||||||||
[4] | Adjustment reflects the fair value adjustment based on the Company's evaluation of the premises and equipment acquired. | |||||||||||||||||||
[5] | Adjustment reflects the fair value adjustment based on the Company's evaluation of the acquired foreclosed assets. | |||||||||||||||||||
[6] | Adjustment reflects the fair value adjustment based on the Company's evaluation of accrued interest receivable and other assets. | |||||||||||||||||||
[7] | Adjustment reflects the fair value adjustment for the core deposit intangible asset recorded as a result of the acquisition. | |||||||||||||||||||
[8] | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. | |||||||||||||||||||
[9] | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management has determined that acquired net operating loss carryforwards are expected to be settled in future periods where the realization of such benefits would be subject to limitations under section 382 of the Internal Revenue Code ("section 382 limitations"). Accordingly, as of the date of acquisition, the Company had established a deferred tax asset valuation allowance of approximately $0.5 million to reflect its assessment that the realization of the benefits from the settlement of these acquired net operating losses is expected to be subject to section 382 limitations. To the extent that additional information becomes available, management may be required to adjust its estimates and assumptions regarding the realization of the benefits associated with these acquired net operating losses by adjusting this deferred tax asset valuation allowance. | |||||||||||||||||||
[10] | This adjustment reflects the differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. Management initially determined that acquired net operating loss carryforwards and other acquired assets with built-in losses were expected to be settled or otherwise recovered in future periods where the realization of such benefits would be subject to section 382 limitations. Accordingly, at the date of acquisition, the Company established a deferred tax asset valuation allowance of approximately $4.1 million to reflect its initial assessment that the realization of the benefits from the settlement or recovery of certain of these acquired assets and net operating losses was expected to be subject to section 382 limitations. During the second quarter of 2014, management determined such valuation allowance was not necessary. Accordingly, the Company's acquisition of First National Bank has been recast to reflect such determination. | |||||||||||||||||||
[11] | Adjustment reflects the fair value adjustment based on the Company's evaluation of the acquired deposits. | |||||||||||||||||||
[12] | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Summit. | |||||||||||||||||||
[13] | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of Bancshares. | |||||||||||||||||||
[14] | Adjustment reflects the amount needed to adjust other liabilities to estimated fair value and to record certain liabilities directly attributable to the acquisition of First National Bank. |
Acquisitions_Summary_of_Supple
Acquisitions - Summary of Supplemental Pro-forma Information (Detail) (Summit Bancorp, Inc. [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Summit Bancorp, Inc. [Member] | ' | ' |
Loans At Acquisition Date [Line Items] | ' | ' |
Net interest income - pro forma (unaudited) | $208,758 | $171,824 |
Net income - pro forma (unaudited) | $91,402 | $81,787 |
Diluted earnings per common share - pro forma (unaudited) | $1.14 | $1.05 |
Acquisitions_Summary_of_Assets1
Acquisitions - Summary of Assets Acquired and Liabilities Assumed in Acquisition (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Mar. 05, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jul. 31, 2013 |
Business Combinations [Abstract] | ' | ' | ' | ' | ' |
Deferred tax valuation allowance | $474,000 | $500,000 | $0 | $0 | ' |
Deferred tax valuation allowance, initially established | ' | ' | ' | ' | $4,100,000 |
Acquisitions_Summary_of_Financ
Acquisitions - Summary of Financial Statement Captions Impacted by Recast Adjustments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 05, 2014 | Dec. 31, 2013 |
Valuation Allowance [Line Items] | ' | ' | ' | ' | ' | ' |
Deferred income tax asset valuation allowance | $474 | $0 | $474 | $0 | $500 | $0 |
Total stockholders' equity before noncontrolling interest | 875,578 | 612,338 | 875,578 | 612,338 | ' | 629,060 |
Gain on merger and acquisition transaction | 0 | 5,163 | 4,667 | 5,163 | ' | ' |
Net income available to common stockholders | 32,093 | 26,452 | 83,855 | 66,839 | ' | ' |
Diluted earnings per common share, split adjusted | $0.40 | $0.36 | $1.08 | $0.93 | ' | ' |
As Previously Reported [Member] | ' | ' | ' | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' | ' | ' | ' |
Deferred income tax asset valuation allowance | ' | -4,102 | ' | -4,102 | ' | ' |
Total stockholders' equity before noncontrolling interest | ' | 608,236 | ' | 608,236 | ' | ' |
Gain on merger and acquisition transaction | ' | ' | ' | 1,061 | ' | ' |
Net income available to common stockholders | ' | ' | ' | 62,737 | ' | ' |
Diluted earnings per common share, split adjusted | ' | ' | ' | $0.87 | ' | ' |
Recast Adjustment [Member] | ' | ' | ' | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' | ' | ' | ' |
Deferred income tax asset valuation allowance | ' | 4,102 | ' | 4,102 | ' | ' |
Total stockholders' equity before noncontrolling interest | ' | 4,102 | ' | 4,102 | ' | ' |
Gain on merger and acquisition transaction | ' | ' | ' | 4,102 | ' | ' |
Net income available to common stockholders | ' | ' | ' | 4,102 | ' | ' |
Diluted earnings per common share, split adjusted | ' | ' | ' | $0.06 | ' | ' |
As Recast [Member] | ' | ' | ' | ' | ' | ' |
Valuation Allowance [Line Items] | ' | ' | ' | ' | ' | ' |
Deferred income tax asset valuation allowance | ' | 0 | ' | 0 | ' | ' |
Total stockholders' equity before noncontrolling interest | ' | 612,338 | ' | 612,338 | ' | ' |
Gain on merger and acquisition transaction | ' | ' | ' | 5,163 | ' | ' |
Net income available to common stockholders | ' | ' | ' | $66,839 | ' | ' |
Diluted earnings per common share, split adjusted | ' | ' | ' | $0.93 | ' | ' |
Earnings_Per_Common_Share_EPS_1
Earnings Per Common Share ("EPS") - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Options to purchase shares of the Company's common stock | 0 | 0 | 0 | 4,000 |
Earnings_Per_Common_Share_EPS_2
Earnings Per Common Share ("EPS") - Schedule of Calculation of Numerator and Denominator in Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Distributed earnings allocated to common stock | $9,560 | $6,732 | $26,166 | $18,036 |
Undistributed earnings allocated to common stock | 22,533 | 19,720 | 57,689 | 48,803 |
Net income available to common stock | $32,093 | $26,452 | $83,855 | $66,839 |
Denominator for basic EPS - weighted-average common shares | 79,678 | 72,544 | 76,763 | 71,338 |
Effect of dilutive securities - stock options | 767 | 752 | 706 | 650 |
Denominator for diluted EPS - weighted-average common shares and assumed conversions | 80,445 | 73,296 | 77,469 | 71,988 |
Basic EPS | $0.40 | $0.36 | $1.09 | $0.94 |
Diluted EPS | $0.40 | $0.36 | $1.08 | $0.93 |
Investment_Securities_Summary_
Investment Securities - Summary of Amortized Cost and Estimated Fair Values of Investment Securities (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | $842,231 | $672,139 | $675,426 |
Gross Unrealized Gains | 21,037 | 11,500 | 8,582 |
Gross Unrealized Losses | -3,392 | -12,246 | -14,624 |
Estimated Fair Value | 859,876 | 671,393 | 669,384 |
Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 572,070 | 432,362 | 438,390 |
Gross Unrealized Gains | 16,610 | 7,423 | 6,230 |
Gross Unrealized Losses | -1,101 | -8,217 | -8,631 |
Estimated Fair Value | 587,579 | 431,568 | 435,989 |
U.S. Government Agency Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 251,926 | 225,263 | 222,510 |
Gross Unrealized Gains | 4,427 | 4,077 | 2,352 |
Gross Unrealized Losses | -2,291 | -4,029 | -5,993 |
Estimated Fair Value | 254,062 | 225,311 | 218,869 |
Corporate Obligations [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 655 | 717 | 716 |
Gross Unrealized Gains | 0 | 0 | 0 |
Gross Unrealized Losses | 0 | 0 | 0 |
Estimated Fair Value | 655 | 717 | 716 |
Other Equity Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 17,580 | 13,797 | 13,810 |
Gross Unrealized Gains | 0 | 0 | 0 |
Gross Unrealized Losses | 0 | 0 | 0 |
Estimated Fair Value | $17,580 | $13,797 | $13,810 |
Investment_Securities_Gross_Un
Investment Securities - Gross Unrealized Losses and Estimated Fair Value of Investment Securities (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total temporarily impaired investment securities, Estimated Fair Value, Less than 12 Months | $85,344 | $183,475 | $259,842 |
Total temporarily impaired investment securities, Unrealized Losses, Less than 12 Months | 372 | 11,552 | 13,230 |
Total temporarily impaired investment securities, Estimated Fair Value, 12 Months or More | 111,238 | 8,020 | 10,823 |
Total temporarily impaired investment securities, Unrealized Losses, 12 Months or More | 3,020 | 694 | 1,394 |
Total temporarily impaired securities, Estimated Fair Value, Total | 196,582 | 191,495 | 270,665 |
Total temporarily impaired securities, Unrealized Losses, Total | 3,392 | 12,246 | 14,624 |
Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total temporarily impaired investment securities, Estimated Fair Value, Less than 12 Months | 40,386 | 122,614 | 132,568 |
Total temporarily impaired investment securities, Unrealized Losses, Less than 12 Months | 146 | 7,523 | 7,237 |
Total temporarily impaired investment securities, Estimated Fair Value, 12 Months or More | 53,628 | 8,020 | 10,823 |
Total temporarily impaired investment securities, Unrealized Losses, 12 Months or More | 955 | 694 | 1,394 |
Total temporarily impaired securities, Estimated Fair Value, Total | 94,014 | 130,634 | 143,391 |
Total temporarily impaired securities, Unrealized Losses, Total | 1,101 | 8,217 | 8,631 |
U.S. Government Agency Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total temporarily impaired investment securities, Estimated Fair Value, Less than 12 Months | 44,958 | 60,861 | 127,274 |
Total temporarily impaired investment securities, Unrealized Losses, Less than 12 Months | 226 | 4,029 | 5,993 |
Total temporarily impaired investment securities, Estimated Fair Value, 12 Months or More | 57,610 | 0 | 0 |
Total temporarily impaired investment securities, Unrealized Losses, 12 Months or More | 2,065 | 0 | 0 |
Total temporarily impaired securities, Estimated Fair Value, Total | 102,568 | 60,861 | 127,274 |
Total temporarily impaired securities, Unrealized Losses, Total | $2,291 | $4,029 | $5,993 |
Investment_Securities_Maturity
Investment Securities - Maturity Distribution of Investment Securities AFS Reported at Amortized Cost and Estimated Fair Value (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Investments, Debt and Equity Securities [Abstract] | ' |
Amortized Cost, One year or less | $37,664 |
Amortized Cost, After one year to five years | 138,870 |
Amortized Cost, After five years to ten years | 194,325 |
Amortized Cost, After ten years | 471,372 |
Total, Amortized Cost | 842,231 |
Estimated Fair Value, One year or less | 38,291 |
Estimated Fair Value, After one year to five years | 140,563 |
Estimated Fair Value, After five years to ten years | 196,655 |
Estimated Fair Value, After ten years | 484,367 |
Total, Estimated Fair Value | $859,876 |
Investment_Securities_Sales_Ac
Investment Securities - Sales Activities of Company's Investment Securities AFS are Summarized (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Sales proceeds | $6,563 | $0 | $54,957 | $999 |
Gross realized gains | 58 | 0 | 82 | 156 |
Gross realized losses | -15 | 0 | -15 | 0 |
Net gains on investment securities | $43 | $0 | $67 | $156 |
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses ("ALLL") - Schedule of Activity Within Allowance for Loan and Lease Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' |
Beginning balance | $46,958 | $39,372 | $42,945 | $38,738 |
Non-purchased loans and leases charged off | -737 | -754 | -3,306 | -3,203 |
Recoveries of non-purchased loans and leases previously charged off | 185 | 142 | 1,167 | 925 |
Net charge-offs | -1,039 | -1,530 | -3,913 | -6,290 |
Total provision | 3,687 | 3,818 | 10,574 | 9,212 |
Ending balance | 49,606 | 41,660 | 49,606 | 41,660 |
Non Purchase Loan [Member] | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' |
Net charge-offs | -552 | -612 | -2,139 | -2,278 |
Total provision | 3,200 | 2,900 | 8,800 | 5,200 |
Covered Loans [Member] | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' |
Net charge-offs | -205 | -918 | -925 | -4,012 |
Total provision | 205 | 918 | 925 | 4,012 |
Non-Covered Loans [Member] | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' |
Net charge-offs | -282 | 0 | -849 | 0 |
Total provision | $282 | $0 | $849 | $0 |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses ("ALLL") - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Partial charge-offs, net of adjustments to FDIC loss share receivable and FDIC clawback payable | $200,000 | $900,000 | $900,000 | $4,000,000 | ' | ' | ' | ' |
Provision for covered loan and lease losses | 200,000 | 900,000 | 900,000 | 4,000,000 | ' | ' | ' | ' |
Impaired covered loans | 13,634,000 | 52,575,000 | 13,634,000 | 52,575,000 | ' | 46,179,000 | ' | ' |
Net charge-offs | 1,039,000 | 1,530,000 | 3,913,000 | 6,290,000 | ' | ' | ' | ' |
Provision for recorded loan and lease | 3,687,000 | 3,818,000 | 10,574,000 | 9,212,000 | ' | ' | ' | ' |
Impaired purchased non-covered loans | 1,657,000 | ' | 1,657,000 | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses | 49,606,000 | 41,660,000 | 49,606,000 | 41,660,000 | 46,958,000 | 42,945,000 | 39,372,000 | 38,738,000 |
Purchase Non-Covered Loans | 1,030,988,000 | 399,058,000 | 1,030,988,000 | 399,058,000 | ' | 372,723,000 | ' | ' |
Non-Covered Loans [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Net charge-offs | 282,000 | 0 | 849,000 | 0 | ' | ' | ' | ' |
Provision for recorded loan and lease | 282,000 | 0 | 849,000 | 0 | ' | ' | ' | ' |
FV 77 or FV 88 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Non-Covered Loans | 0 | 0 | 0 | 0 | ' | 0 | ' | ' |
Covered Loans [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses ("ALLL") - Summary of Company's Allowance for Loan and Lease Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $46,958 | $39,372 | $42,945 | $38,738 | $38,738 |
Charge-offs | -1,224 | -1,672 | -5,080 | -7,215 | -9,002 |
Recoveries | 185 | 142 | 1,167 | 925 | 1,134 |
Provision | 3,687 | 3,818 | 10,574 | 9,212 | 12,075 |
Ending balance | 49,606 | 41,660 | 49,606 | 41,660 | 42,945 |
Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 4,760 | 4,653 | 4,701 | 4,820 | 4,820 |
Charge-offs | -115 | -111 | -456 | -528 | -837 |
Recoveries | 47 | 11 | 118 | 113 | 106 |
Provision | 610 | 294 | 939 | 442 | 612 |
Ending balance | 5,302 | 4,847 | 5,302 | 4,847 | 4,701 |
Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 14,836 | 12,464 | 13,633 | 10,107 | 10,107 |
Charge-offs | -90 | -19 | -1,344 | -612 | -1,111 |
Recoveries | 15 | 0 | 19 | 118 | 122 |
Provision | 3,267 | 304 | 5,720 | 3,136 | 4,515 |
Ending balance | 18,028 | 12,749 | 18,028 | 12,749 | 13,633 |
Real estate [Member] | Construction/land development [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 15,464 | 11,290 | 12,306 | 12,000 | 12,000 |
Charge-offs | 0 | -7 | -14 | -136 | -137 |
Recoveries | 4 | 13 | 12 | 21 | 174 |
Provision | -950 | 1,434 | 2,214 | 845 | 269 |
Ending balance | 14,518 | 12,730 | 14,518 | 12,730 | 12,306 |
Real estate [Member] | Agricultural [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 2,908 | 2,595 | 3,000 | 2,878 | 2,878 |
Charge-offs | -198 | -260 | -213 | -260 | -261 |
Recoveries | 2 | 5 | 13 | 9 | 14 |
Provision | -98 | 182 | -186 | -105 | 369 |
Ending balance | 2,614 | 2,522 | 2,614 | 2,522 | 3,000 |
Real estate [Member] | Multifamily residential [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 1,772 | 1,854 | 2,504 | 2,030 | 2,030 |
Charge-offs | 0 | 0 | 0 | 0 | -4 |
Recoveries | 0 | 0 | 0 | 0 | 4 |
Provision | -161 | 203 | -893 | 27 | 474 |
Ending balance | 1,611 | 2,057 | 1,611 | 2,057 | 2,504 |
Commercial and industrial [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 2,848 | 2,929 | 2,855 | 3,655 | 3,655 |
Charge-offs | -55 | -55 | -477 | -887 | -922 |
Recoveries | 38 | 56 | 801 | 431 | 433 |
Provision | 108 | -172 | -240 | -441 | -311 |
Ending balance | 2,939 | 2,758 | 2,939 | 2,758 | 2,855 |
Consumer [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 926 | 993 | 917 | 1,015 | 1,015 |
Charge-offs | -29 | -57 | -126 | -176 | -214 |
Recoveries | 14 | 19 | 50 | 90 | 104 |
Provision | -89 | -13 | -19 | 13 | 12 |
Ending balance | 822 | 942 | 822 | 942 | 917 |
Direct Financing Leases [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 2,572 | 2,041 | 2,266 | 2,050 | 2,050 |
Charge-offs | -151 | -152 | -418 | -338 | -482 |
Recoveries | 29 | 9 | 43 | 29 | 33 |
Provision | 371 | 262 | 930 | 419 | 665 |
Ending balance | 2,821 | 2,160 | 2,821 | 2,160 | 2,266 |
Other [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 872 | 553 | 763 | 183 | 183 |
Charge-offs | -99 | -93 | -258 | -266 | -359 |
Recoveries | 36 | 29 | 111 | 114 | 144 |
Provision | 142 | 406 | 335 | 864 | 795 |
Ending balance | 951 | 895 | 951 | 895 | 763 |
Covered Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 0 | 0 | 0 | 0 | 0 |
Charge-offs | -205 | -918 | -925 | -4,012 | -4,675 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | 205 | 918 | 925 | 4,012 | 4,675 |
Ending balance | 0 | 0 | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 0 | ' | 0 | ' | ' |
Charge-offs | -282 | ' | -849 | ' | ' |
Recoveries | 0 | ' | 0 | ' | ' |
Provision | 282 | ' | 849 | ' | ' |
Ending balance | $0 | ' | $0 | ' | ' |
Allowance_for_Loan_and_Lease_L5
Allowance for Loan and Lease Losses ("ALLL") - Summary of Allowance for Loan and Lease Losses and Recorded Investment in Loans and Leases, Excluding Loans Covered by FDIC (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | $1,010 | ' | $1,341 | $1,303 | ' | ' |
Total ALLL | 49,606 | 46,958 | 42,945 | 41,660 | 39,372 | 38,738 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 15,845 | ' | 8,087 | 9,377 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 3,623,297 | ' | 2,624,478 | 2,513,212 | ' | ' |
Total Loans and Leases | 3,639,142 | ' | 2,632,565 | 2,522,589 | ' | ' |
Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 345 | ' | 438 | 490 | ' | ' |
Total ALLL | 5,302 | 4,760 | 4,701 | 4,847 | 4,653 | 4,820 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 2,360 | ' | 4,047 | 3,535 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 275,981 | ' | 245,509 | 247,491 | ' | ' |
Total Loans and Leases | 278,341 | ' | 249,556 | 251,026 | ' | ' |
Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 24 | ' | 15 | 6 | ' | ' |
Total ALLL | 18,028 | 14,836 | 13,633 | 12,749 | 12,464 | 10,107 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 2,300 | ' | 2,159 | 3,572 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 1,370,994 | ' | 1,101,955 | 1,032,046 | ' | ' |
Total Loans and Leases | 1,373,294 | ' | 1,104,114 | 1,035,618 | ' | ' |
Real estate [Member] | Construction/land development [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 2 | ' | 2 | 2 | ' | ' |
Total ALLL | 14,518 | 15,464 | 12,306 | 12,730 | 11,290 | 12,000 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 10,191 | ' | 236 | 217 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 1,223,062 | ' | 722,321 | 713,981 | ' | ' |
Total Loans and Leases | 1,233,253 | ' | 722,557 | 714,198 | ' | ' |
Real estate [Member] | Agricultural [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 30 | ' | 229 | 187 | ' | ' |
Total ALLL | 2,614 | 2,908 | 3,000 | 2,522 | 2,595 | 2,878 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 376 | ' | 883 | 951 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 46,345 | ' | 44,313 | 47,002 | ' | ' |
Total Loans and Leases | 46,721 | ' | 45,196 | 47,953 | ' | ' |
Real estate [Member] | Multifamily residential [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 0 | ' | 0 | 0 | ' | ' |
Total ALLL | 1,611 | 1,772 | 2,504 | 2,057 | 1,854 | 2,030 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 0 | ' | 0 | 310 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 155,940 | ' | 208,337 | 163,606 | ' | ' |
Total Loans and Leases | 155,940 | ' | 208,337 | 163,916 | ' | ' |
Commercial and industrial [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 606 | ' | 652 | 613 | ' | ' |
Total ALLL | 2,939 | 2,848 | 2,855 | 2,758 | 2,929 | 3,655 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 578 | ' | 686 | 739 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 312,714 | ' | 123,382 | 121,424 | ' | ' |
Total Loans and Leases | 313,292 | ' | 124,068 | 122,163 | ' | ' |
Consumer [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 3 | ' | 3 | 4 | ' | ' |
Total ALLL | 822 | 926 | 917 | 942 | 993 | 1,015 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 32 | ' | 50 | 33 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 25,367 | ' | 26,132 | 27,265 | ' | ' |
Total Loans and Leases | 25,399 | ' | 26,182 | 27,298 | ' | ' |
Direct Financing Leases [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 0 | ' | 0 | 0 | ' | ' |
Total ALLL | 2,821 | 2,572 | 2,266 | 2,160 | 2,041 | 2,050 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 0 | ' | 0 | 0 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 109,059 | ' | 86,321 | 81,984 | ' | ' |
Total Loans and Leases | 109,059 | ' | 86,321 | 81,984 | ' | ' |
Other [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Non-Purchased Loan and Lease Losses ALLL for Individually Evaluated Impaired Loans and Leases | 0 | ' | 2 | 1 | ' | ' |
Total ALLL | 951 | 872 | 763 | 895 | 553 | 183 |
Non-Purchased Loans and Leases - Individually Evaluated Impaired Loans and Leases | 8 | ' | 26 | 20 | ' | ' |
Non-Purchased Loans and Leases - All Other Loans and Leases | 103,835 | ' | 66,208 | 78,413 | ' | ' |
Total Loans and Leases | 103,843 | ' | 66,234 | 78,433 | ' | ' |
ALLL For All Other Loans And Leases [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 48,596 | ' | 41,604 | 40,357 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 4,957 | ' | 4,263 | 4,357 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 18,004 | ' | 13,618 | 12,743 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Real estate [Member] | Construction/land development [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 14,516 | ' | 12,304 | 12,728 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Real estate [Member] | Agricultural [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 2,584 | ' | 2,771 | 2,335 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Real estate [Member] | Multifamily residential [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 1,611 | ' | 2,504 | 2,057 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Commercial and industrial [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 2,333 | ' | 2,203 | 2,145 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Consumer [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 819 | ' | 914 | 938 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Direct Financing Leases [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | 2,821 | ' | 2,266 | 2,160 | ' | ' |
ALLL For All Other Loans And Leases [Member] | Other [Member] | ' | ' | ' | ' | ' | ' |
Allowance For Loan And Lease Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Total ALLL | $951 | ' | $761 | $894 | ' | ' |
Allowance_for_Loan_and_Lease_L6
Allowance for Loan and Lease Losses ("ALLL") - Schedule of Impaired Non-purchased Loans and Leases, FDIC Loss Share Agreements (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | $20,215 | $15,542 | $20,215 | $15,542 | $13,700 |
Net Charge-offs to Date | -4,370 | -6,165 | -4,370 | -6,165 | -5,613 |
Principal Balance, Net of Charge-offs | 15,845 | 9,377 | 15,845 | 9,377 | 8,087 |
Specific Allowance | 1,010 | 1,303 | 1,010 | 1,303 | 1,341 |
Weighted Average Carrying Value | 16,636 | 12,234 | 12,154 | 10,205 | 9,781 |
Impaired Financing Receivable With Related Allowances [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 4,966 | 6,680 | 4,966 | 6,680 | 6,513 |
Net Charge-offs to Date | -2,752 | -3,679 | -2,752 | -3,679 | -3,417 |
Principal Balance, Net of Charge-offs | 2,214 | 3,001 | 2,214 | 3,001 | 3,096 |
Specific Allowance | 1,010 | 1,303 | 1,010 | 1,303 | 1,341 |
Weighted Average Carrying Value | 2,378 | 2,656 | 2,575 | 2,802 | 2,860 |
Impaired Financing Receivable With Related Allowances [Member] | Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 2,984 | 3,601 | 2,984 | 3,601 | 3,609 |
Net Charge-offs to Date | -1,654 | -1,662 | -1,654 | -1,662 | -1,692 |
Principal Balance, Net of Charge-offs | 1,330 | 1,939 | 1,330 | 1,939 | 1,917 |
Specific Allowance | 345 | 490 | 345 | 490 | 438 |
Weighted Average Carrying Value | 1,452 | 1,624 | 1,564 | 1,569 | 1,638 |
Impaired Financing Receivable With Related Allowances [Member] | Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 415 | 37 | 415 | 37 | 121 |
Net Charge-offs to Date | -216 | 0 | -216 | 0 | -75 |
Principal Balance, Net of Charge-offs | 199 | 37 | 199 | 37 | 46 |
Specific Allowance | 24 | 6 | 24 | 6 | 15 |
Weighted Average Carrying Value | 121 | 24 | 87 | 105 | 93 |
Impaired Financing Receivable With Related Allowances [Member] | Real estate [Member] | Construction/land development [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 36 | 129 | 36 | 129 | 38 |
Net Charge-offs to Date | -22 | -112 | -22 | -112 | -22 |
Principal Balance, Net of Charge-offs | 14 | 17 | 14 | 17 | 16 |
Specific Allowance | 2 | 2 | 2 | 2 | 2 |
Weighted Average Carrying Value | 16 | 8 | 16 | 17 | 17 |
Impaired Financing Receivable With Related Allowances [Member] | Real estate [Member] | Agricultural [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 116 | 459 | 116 | 459 | 511 |
Net Charge-offs to Date | -12 | -42 | -12 | -42 | -42 |
Principal Balance, Net of Charge-offs | 104 | 417 | 104 | 417 | 469 |
Specific Allowance | 30 | 187 | 30 | 187 | 229 |
Weighted Average Carrying Value | 214 | 421 | 311 | 525 | 514 |
Impaired Financing Receivable With Related Allowances [Member] | Commercial and industrial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 1,314 | 2,270 | 1,314 | 2,270 | 2,016 |
Net Charge-offs to Date | -764 | -1,713 | -764 | -1,713 | -1,405 |
Principal Balance, Net of Charge-offs | 550 | 557 | 550 | 557 | 611 |
Specific Allowance | 606 | 613 | 606 | 613 | 652 |
Weighted Average Carrying Value | 555 | 558 | 571 | 570 | 578 |
Impaired Financing Receivable With Related Allowances [Member] | Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 101 | 39 | 101 | 39 | 178 |
Net Charge-offs to Date | -84 | -13 | -84 | -13 | -156 |
Principal Balance, Net of Charge-offs | 17 | 26 | 17 | 26 | 22 |
Specific Allowance | 3 | 4 | 3 | 4 | 3 |
Weighted Average Carrying Value | 20 | 13 | 22 | 7 | 10 |
Impaired Financing Receivable With Related Allowances [Member] | Other [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 0 | 145 | 0 | 145 | 40 |
Net Charge-offs to Date | 0 | -137 | 0 | -137 | -25 |
Principal Balance, Net of Charge-offs | 0 | 8 | 0 | 8 | 15 |
Specific Allowance | 0 | 1 | 0 | 1 | 2 |
Weighted Average Carrying Value | 0 | 8 | 4 | 9 | 10 |
Impaired Financing Receivable With No Related Allowances [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 15,249 | 8,862 | 15,249 | 8,862 | 7,187 |
Net Charge-offs to Date | -1,618 | -2,486 | -1,618 | -2,486 | -2,196 |
Principal Balance, Net of Charge-offs | 13,631 | 6,376 | 13,631 | 6,376 | 4,991 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 14,258 | 9,578 | 9,579 | 7,403 | 6,921 |
Impaired Financing Receivable With No Related Allowances [Member] | Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 1,343 | 2,244 | 1,343 | 2,244 | 2,939 |
Net Charge-offs to Date | -313 | -648 | -313 | -648 | -808 |
Principal Balance, Net of Charge-offs | 1,030 | 1,596 | 1,030 | 1,596 | 2,131 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 1,352 | 1,507 | 1,802 | 1,394 | 1,541 |
Impaired Financing Receivable With No Related Allowances [Member] | Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 2,826 | 4,645 | 2,826 | 4,645 | 3,234 |
Net Charge-offs to Date | -725 | -1,110 | -725 | -1,110 | -1,120 |
Principal Balance, Net of Charge-offs | 2,101 | 3,535 | 2,101 | 3,535 | 2,114 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 2,210 | 6,957 | 2,025 | 4,902 | 4,344 |
Impaired Financing Receivable With No Related Allowances [Member] | Real estate [Member] | Construction/land development [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 10,258 | 281 | 10,258 | 281 | 300 |
Net Charge-offs to Date | -81 | -81 | -81 | -81 | -81 |
Principal Balance, Net of Charge-offs | 10,177 | 200 | 10,177 | 200 | 219 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 9,949 | 236 | 5,107 | 324 | 303 |
Impaired Financing Receivable With No Related Allowances [Member] | Real estate [Member] | Agricultural [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 474 | 801 | 474 | 801 | 426 |
Net Charge-offs to Date | -202 | -267 | -202 | -267 | -12 |
Principal Balance, Net of Charge-offs | 272 | 534 | 272 | 534 | 414 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 397 | 386 | 419 | 401 | 404 |
Impaired Financing Receivable With No Related Allowances [Member] | Real estate [Member] | Multifamily residential [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 133 | 443 | 133 | 443 | 133 |
Net Charge-offs to Date | -133 | -133 | -133 | -133 | -133 |
Principal Balance, Net of Charge-offs | 0 | 310 | 0 | 310 | 0 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 246 | 311 | 123 | 155 | 124 |
Impaired Financing Receivable With No Related Allowances [Member] | Commercial and industrial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 187 | 397 | 187 | 397 | 85 |
Net Charge-offs to Date | -159 | -215 | -159 | -215 | -10 |
Principal Balance, Net of Charge-offs | 28 | 182 | 28 | 182 | 75 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 79 | 166 | 73 | 196 | 172 |
Impaired Financing Receivable With No Related Allowances [Member] | Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 20 | 19 | 20 | 19 | 39 |
Net Charge-offs to Date | -5 | -12 | -5 | -12 | -12 |
Principal Balance, Net of Charge-offs | 15 | 7 | 15 | 7 | 27 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | 17 | 7 | 21 | 23 | 24 |
Impaired Financing Receivable With No Related Allowances [Member] | Other [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Principal Balance | 8 | 32 | 8 | 32 | 31 |
Net Charge-offs to Date | 0 | -20 | 0 | -20 | -20 |
Principal Balance, Net of Charge-offs | 8 | 12 | 8 | 12 | 11 |
Specific Allowance | 0 | 0 | 0 | 0 | 0 |
Weighted Average Carrying Value | $8 | $8 | $9 | $8 | $9 |
Allowance_for_Loan_and_Lease_L7
Allowance for Loan and Lease Losses ("ALLL") - Summary of Credit Quality Indicators for Loans and Leases, Including Covered and Non-Covered Loans and Leases (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | $3,639,142 | $2,632,565 | $2,522,589 |
Loans covered by FDIC loss share agreements ("covered loans") | 248,802 | 351,791 | 409,319 |
Total purchase Non-Covered Loans | 1,030,988 | 372,723 | 399,058 |
Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 248,802 | 351,791 | 409,319 |
Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 357,541 | 92,119 | 100,387 |
Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 385,349 | 137,938 | 139,958 |
Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 91,407 | 52,526 | 59,345 |
Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 128,837 | 49,510 | 55,884 |
Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 729 | 0 | 0 |
Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 66,197 | 40,630 | 43,484 |
Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 928 | 0 | 0 |
Satisfactory [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 3,099,606 | 2,167,775 | 2,056,383 |
Moderate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 421,100 | 350,449 | 344,268 |
Watch [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 87,120 | 91,294 | 93,374 |
Substandard [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 31,316 | 23,047 | 28,564 |
FV 1 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 235,168 | 305,612 | 356,744 |
FV 2 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 13,634 | 46,179 | 52,575 |
Real estate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 915,081 | 336,394 | 355,307 |
Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 278,341 | 249,556 | 251,026 |
Total purchase Non-Covered Loans | 279,273 | 131,085 | 136,723 |
Real estate [Member] | Residential 1-4 family [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 88,275 | 111,053 | 120,541 |
Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,373,294 | 1,104,114 | 1,035,618 |
Total purchase Non-Covered Loans | 462,384 | 152,948 | 163,724 |
Real estate [Member] | Non-farm/non-residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 113,633 | 163,708 | 197,452 |
Real estate [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,233,253 | 722,557 | 714,198 |
Total purchase Non-Covered Loans | 94,337 | 25,633 | 26,778 |
Real estate [Member] | Construction/land development [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 27,618 | 47,742 | 59,387 |
Real estate [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 46,721 | 45,196 | 47,953 |
Total purchase Non-Covered Loans | 44,408 | 9,518 | 10,080 |
Real estate [Member] | Agricultural [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 9,877 | 11,150 | 12,341 |
Real estate [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 155,940 | 208,337 | 163,916 |
Total purchase Non-Covered Loans | 34,679 | 17,210 | 18,002 |
Real estate [Member] | Multifamily residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 3,828 | 9,166 | 9,368 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 326,514 | 80,312 | 86,390 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 74,617 | 27,111 | 28,486 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 200,653 | 42,193 | 46,201 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 28,857 | 5,930 | 5,973 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 12,510 | 1,547 | 2,109 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 9,877 | 3,531 | 3,621 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 348,451 | 125,170 | 126,695 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 81,344 | 32,259 | 34,113 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 194,295 | 72,621 | 71,637 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 33,070 | 8,106 | 8,578 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 26,723 | 6,619 | 6,705 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 13,019 | 5,565 | 5,662 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 82,763 | 49,948 | 55,851 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 30,058 | 21,035 | 21,592 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 32,819 | 20,685 | 25,591 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 9,607 | 2,137 | 2,495 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 3,053 | 823 | 851 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 7,226 | 5,268 | 5,322 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 95,754 | 42,600 | 45,561 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 75,815 | 35,733 | 36,221 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 3,283 | 1,191 | 3,509 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 13,783 | 4,553 | 4,680 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 1,933 | 164 | 173 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 940 | 959 | 978 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 729 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 143 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 505 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 9 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 72 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 59,942 | 38,364 | 40,810 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 17,236 | 14,947 | 16,311 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 30,742 | 16,258 | 16,786 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 9,011 | 4,907 | 5,052 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 189 | 365 | 242 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 2,764 | 1,887 | 2,419 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 928 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 60 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 87 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Real estate [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 781 | 0 | 0 |
Real estate [Member] | Satisfactory [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 268,707 | 239,940 | 242,202 |
Real estate [Member] | Satisfactory [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,170,334 | 916,304 | 839,345 |
Real estate [Member] | Satisfactory [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,016,496 | 550,436 | 544,324 |
Real estate [Member] | Satisfactory [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 24,335 | 21,647 | 23,926 |
Real estate [Member] | Satisfactory [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 119,765 | 177,144 | 132,722 |
Real estate [Member] | Moderate [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 0 | 0 | 0 |
Real estate [Member] | Moderate [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 141,395 | 128,624 | 134,754 |
Real estate [Member] | Moderate [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 186,496 | 144,435 | 136,270 |
Real estate [Member] | Moderate [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 10,202 | 11,098 | 11,688 |
Real estate [Member] | Moderate [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 35,039 | 30,029 | 29,716 |
Real estate [Member] | Watch [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 3,797 | 3,140 | 1,438 |
Real estate [Member] | Watch [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 54,078 | 52,388 | 51,589 |
Real estate [Member] | Watch [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 16,979 | 23,574 | 29,122 |
Real estate [Member] | Watch [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 10,062 | 9,788 | 9,317 |
Real estate [Member] | Watch [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 382 | 391 | 394 |
Real estate [Member] | Substandard [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 5,837 | 6,476 | 7,386 |
Real estate [Member] | Substandard [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 7,487 | 6,798 | 9,930 |
Real estate [Member] | Substandard [Member] | Construction/land development [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 13,282 | 4,112 | 4,482 |
Real estate [Member] | Substandard [Member] | Agricultural [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 2,122 | 2,663 | 3,022 |
Real estate [Member] | Substandard [Member] | Multifamily residential [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 754 | 773 | 1,084 |
Real estate [Member] | FV 1 [Member] | Residential 1-4 family [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 86,067 | 105,218 | 114,163 |
Real estate [Member] | FV 1 [Member] | Non-farm/non-residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 107,046 | 138,573 | 171,886 |
Real estate [Member] | FV 1 [Member] | Construction/land development [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 23,970 | 33,475 | 40,172 |
Real estate [Member] | FV 1 [Member] | Agricultural [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 9,539 | 10,807 | 11,203 |
Real estate [Member] | FV 1 [Member] | Multifamily residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 3,513 | 8,709 | 9,153 |
Real estate [Member] | FV 2 [Member] | Residential 1-4 family [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 2,208 | 5,835 | 6,378 |
Real estate [Member] | FV 2 [Member] | Non-farm/non-residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 6,587 | 25,135 | 25,566 |
Real estate [Member] | FV 2 [Member] | Construction/land development [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 3,648 | 14,267 | 19,215 |
Real estate [Member] | FV 2 [Member] | Agricultural [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 338 | 343 | 1,138 |
Real estate [Member] | FV 2 [Member] | Multifamily residential [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 315 | 457 | 215 |
Commercial and industrial [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 313,292 | 124,068 | 122,163 |
Total purchase Non-Covered Loans | 76,701 | 24,934 | 30,229 |
Commercial and industrial [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 5,354 | 8,719 | 9,934 |
Commercial and industrial [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 23,424 | 9,592 | 10,684 |
Commercial and industrial [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 27,645 | 9,730 | 10,793 |
Commercial and industrial [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 7,282 | 2,250 | 3,150 |
Commercial and industrial [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 13,284 | 1,879 | 4,004 |
Commercial and industrial [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Commercial and industrial [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 5,066 | 1,483 | 1,598 |
Commercial and industrial [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Commercial and industrial [Member] | Satisfactory [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 267,178 | 87,568 | 91,913 |
Commercial and industrial [Member] | Moderate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 43,286 | 33,071 | 26,843 |
Commercial and industrial [Member] | Watch [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,347 | 1,664 | 1,210 |
Commercial and industrial [Member] | Substandard [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 1,481 | 1,765 | 2,197 |
Commercial and industrial [Member] | FV 1 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 4,819 | 8,582 | 9,877 |
Commercial and industrial [Member] | FV 2 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 535 | 137 | 57 |
Consumer [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 25,399 | 26,182 | 27,298 |
Total purchase Non-Covered Loans | 20,461 | 6,855 | 9,176 |
Consumer [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 64 | 111 | 138 |
Consumer [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 2,498 | 1,013 | 1,980 |
Consumer [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 884 | 141 | 147 |
Consumer [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 627 | 171 | 181 |
Consumer [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 16,023 | 4,794 | 5,990 |
Consumer [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Consumer [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 429 | 736 | 878 |
Consumer [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Consumer [Member] | Satisfactory [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 24,879 | 25,574 | 26,763 |
Consumer [Member] | Moderate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 0 | 0 | 0 |
Consumer [Member] | Watch [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 263 | 230 | 172 |
Consumer [Member] | Substandard [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 257 | 378 | 363 |
Consumer [Member] | FV 1 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 61 | 106 | 132 |
Consumer [Member] | FV 2 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 3 | 5 | 6 |
Direct Financing Leases [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 109,059 | 86,321 | 81,984 |
Direct Financing Leases [Member] | Satisfactory [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 108,126 | 85,363 | 80,967 |
Direct Financing Leases [Member] | Moderate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 829 | 955 | 992 |
Direct Financing Leases [Member] | Watch [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 32 | 0 | 0 |
Direct Financing Leases [Member] | Substandard [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 72 | 3 | 25 |
Other [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 103,843 | 66,234 | 78,433 |
Total purchase Non-Covered Loans | 18,745 | 4,540 | 4,346 |
Other [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 153 | 142 | 158 |
Other [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 33 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 5,105 | 1,202 | 1,333 |
Other [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 44 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 8,369 | 2,897 | 2,323 |
Other [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 55 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 735 | 157 | 163 |
Other [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 36 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 3,776 | 237 | 329 |
Other [Member] | Purchased Non-Covered Loans Without Evidence of Credit Deterioration at Acquisition [Member] | FV 77 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Other [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 66 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 760 | 47 | 198 |
Other [Member] | Purchased Non-Covered Loans With Evidence of Credit Deterioration at Acquisition [Member] | FV 88 [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total purchase Non-Covered Loans | 0 | 0 | 0 |
Other [Member] | Satisfactory [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 99,786 | 63,799 | 74,221 |
Other [Member] | Moderate [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 3,853 | 2,237 | 4,005 |
Other [Member] | Watch [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 180 | 119 | 132 |
Other [Member] | Substandard [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Total Loans and Leases | 24 | 79 | 75 |
Other [Member] | FV 1 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | 153 | 142 | 158 |
Other [Member] | FV 2 [Member] | Covered Loans [Member] | ' | ' | ' |
Loans And Leases [Line Items] | ' | ' | ' |
Loans covered by FDIC loss share agreements ("covered loans") | $0 | $0 | $0 |
Allowance_for_Loan_and_Lease_L8
Allowance for Loan and Lease Losses ("ALLL") - Schedule of Aging Analysis Past Due Loans and Leases, Loans Covered & Non-Covered by FDIC Loss Share Agreements (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | $9,630 | $8,543 | $6,620 |
90 Days or More | 12,934 | 4,697 | 6,927 |
Total Past Due | 22,564 | 13,240 | 13,547 |
Current | 3,616,578 | 2,619,325 | 2,509,042 |
Total Loans and Leases | 3,639,142 | 2,632,565 | 2,522,589 |
Total Covered Loans | 248,802 | 351,791 | 409,319 |
Total Purchased Non-Covered Loans | 1,030,988 | 372,723 | 399,058 |
Purchased Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 9,858 | 13,346 | 12,828 |
90 Days or More | 18,978 | 16,435 | 17,517 |
Total Past Due | 28,836 | 29,781 | 30,345 |
Current | 1,002,152 | 342,942 | 368,713 |
Total Purchased Non-Covered Loans | 1,030,988 | 372,723 | 399,058 |
Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 7,497 | 15,695 | 17,121 |
90 Days or More | 22,673 | 72,354 | 88,985 |
Total Past Due | 30,170 | 88,049 | 106,106 |
Current | 218,632 | 263,742 | 303,213 |
Total Covered Loans | 248,802 | 351,791 | 409,319 |
Real estate [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 4,203 | 4,228 | 1,661 |
90 Days or More | 1,230 | 2,004 | 2,376 |
Total Past Due | 5,433 | 6,232 | 4,037 |
Current | 272,908 | 243,324 | 246,989 |
Total Loans and Leases | 278,341 | 249,556 | 251,026 |
Real estate [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 879 | 2,093 | 2,321 |
90 Days or More | 1,432 | 1,867 | 3,312 |
Total Past Due | 2,311 | 3,960 | 5,633 |
Current | 1,370,983 | 1,100,154 | 1,029,985 |
Total Loans and Leases | 1,373,294 | 1,104,114 | 1,035,618 |
Real estate [Member] | Construction/land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 1,854 | 235 | 1,662 |
90 Days or More | 10,017 | 153 | 136 |
Total Past Due | 11,871 | 388 | 1,798 |
Current | 1,221,382 | 722,169 | 712,400 |
Total Loans and Leases | 1,233,253 | 722,557 | 714,198 |
Real estate [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 1,574 | 517 | 322 |
90 Days or More | 192 | 540 | 571 |
Total Past Due | 1,766 | 1,057 | 893 |
Current | 44,955 | 44,139 | 47,060 |
Total Loans and Leases | 46,721 | 45,196 | 47,953 |
Real estate [Member] | Multifamily residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 773 | 0 |
90 Days or More | 0 | 0 | 310 |
Total Past Due | 0 | 773 | 310 |
Current | 155,940 | 207,564 | 163,606 |
Total Loans and Leases | 155,940 | 208,337 | 163,916 |
Real estate [Member] | Purchased Non-Covered Loans [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 6,026 | 6,615 | 4,026 |
90 Days or More | 6,220 | 4,703 | 3,647 |
Total Past Due | 12,246 | 11,318 | 7,673 |
Current | 267,027 | 119,767 | 129,050 |
Total Purchased Non-Covered Loans | 279,273 | 131,085 | 136,723 |
Real estate [Member] | Purchased Non-Covered Loans [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 1,706 | 4,886 | 3,319 |
90 Days or More | 9,449 | 5,779 | 4,136 |
Total Past Due | 11,155 | 10,665 | 7,455 |
Current | 451,229 | 142,283 | 156,269 |
Total Purchased Non-Covered Loans | 462,384 | 152,948 | 163,724 |
Real estate [Member] | Purchased Non-Covered Loans [Member] | Construction/land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 855 | 265 | 4,601 |
90 Days or More | 1,476 | 4,045 | 7,367 |
Total Past Due | 2,331 | 4,310 | 11,968 |
Current | 92,006 | 21,323 | 14,810 |
Total Purchased Non-Covered Loans | 94,337 | 25,633 | 26,778 |
Real estate [Member] | Purchased Non-Covered Loans [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 211 | 134 | 0 |
90 Days or More | 146 | 25 | 101 |
Total Past Due | 357 | 159 | 101 |
Current | 44,051 | 9,359 | 9,979 |
Total Purchased Non-Covered Loans | 44,408 | 9,518 | 10,080 |
Real estate [Member] | Purchased Non-Covered Loans [Member] | Multifamily residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 421 | 177 |
90 Days or More | 1,228 | 1,225 | 1,326 |
Total Past Due | 1,228 | 1,646 | 1,503 |
Current | 33,451 | 15,564 | 16,499 |
Total Purchased Non-Covered Loans | 34,679 | 17,210 | 18,002 |
Real estate [Member] | Covered Loans [Member] | Residential 1-4 family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 3,075 | 5,341 | 6,260 |
90 Days or More | 7,298 | 12,409 | 13,658 |
Total Past Due | 10,373 | 17,750 | 19,918 |
Current | 77,902 | 93,303 | 100,623 |
Total Covered Loans | 88,275 | 111,053 | 120,541 |
Real estate [Member] | Covered Loans [Member] | Non-farm/non-residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 3,481 | 6,954 | 8,557 |
90 Days or More | 8,112 | 32,462 | 39,841 |
Total Past Due | 11,593 | 39,416 | 48,398 |
Current | 102,040 | 124,292 | 149,054 |
Total Covered Loans | 113,633 | 163,708 | 197,452 |
Real estate [Member] | Covered Loans [Member] | Construction/land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 922 | 2,173 | 848 |
90 Days or More | 5,008 | 20,914 | 27,584 |
Total Past Due | 5,930 | 23,087 | 28,432 |
Current | 21,688 | 24,655 | 30,955 |
Total Covered Loans | 27,618 | 47,742 | 59,387 |
Real estate [Member] | Covered Loans [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 237 | 1,234 |
90 Days or More | 1,652 | 1,328 | 1,250 |
Total Past Due | 1,652 | 1,565 | 2,484 |
Current | 8,225 | 9,585 | 9,857 |
Total Covered Loans | 9,877 | 11,150 | 12,341 |
Real estate [Member] | Covered Loans [Member] | Multifamily residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 375 | 195 |
90 Days or More | 0 | 3,240 | 3,689 |
Total Past Due | 0 | 3,615 | 3,884 |
Current | 3,828 | 5,551 | 5,484 |
Total Covered Loans | 3,828 | 9,166 | 9,368 |
Commercial and industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 813 | 418 | 349 |
90 Days or More | 28 | 31 | 131 |
Total Past Due | 841 | 449 | 480 |
Current | 312,451 | 123,619 | 121,683 |
Total Loans and Leases | 313,292 | 124,068 | 122,163 |
Commercial and industrial [Member] | Purchased Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 791 | 614 | 357 |
90 Days or More | 269 | 388 | 535 |
Total Past Due | 1,060 | 1,002 | 892 |
Current | 75,641 | 23,932 | 29,337 |
Total Purchased Non-Covered Loans | 76,701 | 24,934 | 30,229 |
Commercial and industrial [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 9 | 605 | 27 |
90 Days or More | 603 | 2,001 | 2,961 |
Total Past Due | 612 | 2,606 | 2,988 |
Current | 4,742 | 6,113 | 6,946 |
Total Covered Loans | 5,354 | 8,719 | 9,934 |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 295 | 261 | 177 |
90 Days or More | 35 | 78 | 66 |
Total Past Due | 330 | 339 | 243 |
Current | 25,069 | 25,843 | 27,055 |
Total Loans and Leases | 25,399 | 26,182 | 27,298 |
Consumer [Member] | Purchased Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 196 | 411 | 310 |
90 Days or More | 159 | 237 | 223 |
Total Past Due | 355 | 648 | 533 |
Current | 20,106 | 6,207 | 8,643 |
Total Purchased Non-Covered Loans | 20,461 | 6,855 | 9,176 |
Consumer [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 10 | 10 | 0 |
90 Days or More | 0 | 0 | 2 |
Total Past Due | 10 | 10 | 2 |
Current | 54 | 101 | 136 |
Total Covered Loans | 64 | 111 | 138 |
Direct Financing Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 0 | 111 |
90 Days or More | 0 | 0 | 25 |
Total Past Due | 0 | 0 | 136 |
Current | 109,059 | 86,321 | 81,848 |
Total Loans and Leases | 109,059 | 86,321 | 81,984 |
Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 12 | 18 | 17 |
90 Days or More | 0 | 24 | 0 |
Total Past Due | 12 | 42 | 17 |
Current | 103,831 | 66,192 | 78,416 |
Total Loans and Leases | 103,843 | 66,234 | 78,433 |
Other [Member] | Purchased Non-Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 73 | 0 | 38 |
90 Days or More | 31 | 33 | 182 |
Total Past Due | 104 | 33 | 220 |
Current | 18,641 | 4,507 | 4,126 |
Total Purchased Non-Covered Loans | 18,745 | 4,540 | 4,346 |
Other [Member] | Covered Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 0 | 0 | 0 |
90 Days or More | 0 | 0 | 0 |
Total Past Due | 0 | 0 | 0 |
Current | 153 | 142 | 158 |
Total Covered Loans | $153 | $142 | $158 |
Allowance_for_Loan_and_Lease_L9
Allowance for Loan and Lease Losses ("ALLL") - Schedule of Aging Analysis Past Due Loans and Leases, Loans Covered & Non-Covered by FDIC Loss Share Agreements (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
30-89 Days Past Due [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans and leases, excluding loans covered by FDIC loss share agreements, on nonaccrual status | $0.90 | $0.80 | $0.40 |
Non Accrual Loans Current [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans and leases, excluding loans covered by FDIC loss share agreements, on nonaccrual status | $3.90 | $3.20 | $3.10 |
Income_Taxes_Types_of_Temporar
Income Taxes - Types of Temporary Differences Between Tax Basis of Assets and Liabilities (Detail) (USD $) | Sep. 30, 2014 | Mar. 05, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Allowance for loan and lease losses | $19,052 | ' | $16,576 | $16,080 |
Differences in amounts reflected in financial statements and income tax basis of purchased non-covered loans | 24,769 | ' | 17,167 | 19,563 |
Stock-based compensation | 3,811 | ' | 2,400 | 2,724 |
Deferred compensation | 1,962 | ' | 1,775 | 1,792 |
Foreclosed assets | 5,195 | ' | 3,165 | 3,318 |
Investment securities AFS | 0 | ' | 5,056 | 3,116 |
Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in FDIC-assisted acquisitions | 8,708 | ' | 3,424 | 607 |
Acquired net operating losses | 13,976 | ' | 7,509 | 7,905 |
Other, net | 7,310 | ' | 3,858 | 1,950 |
Total gross deferred tax assets | 84,783 | ' | 60,930 | 57,055 |
Less valuation allowance | -474 | -500 | 0 | 0 |
Net deferred tax asset | 84,309 | ' | 60,930 | 57,055 |
Accelerated depreciation on premises and equipment | 17,933 | ' | 17,459 | 16,952 |
Investment securities AFS | 5,499 | ' | 0 | 0 |
Acquired intangible assets | 10,466 | ' | 4,227 | 4,390 |
Total gross deferred tax liabilities | 33,898 | ' | 21,686 | 21,342 |
Net deferred tax assets (liabilities) | $50,411 | ' | $39,244 | $35,713 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Mar. 05, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
First National Bank [Member] | First National Bank [Member] | First National Bank [Member] | Bancshares Inc [Member] | Bancshares Inc [Member] | Bancshares Inc [Member] | Summit [Member] | ||||||
Expiration Year 2032 [Member] | Expiration Year 2033 [Member] | Year Three [Member] | Year Four [Member] | |||||||||
Schedule Of Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating losses carryforwards | ' | ' | ' | ' | ' | $20,000,000 | ' | ' | $16,400,000 | ' | ' | $6,500,000 |
Operating loss carryforwards subject to expiration | ' | ' | ' | ' | ' | ' | 12,500,000 | 7,500,000 | 16,400,000 | ' | ' | 6,500,000 |
Operating loss carryforwards expiration year | ' | ' | ' | ' | ' | ' | '2032 | '2033 | ' | '2030 | '2034 | '2019 |
Deferred tax valuation allowance, initially established | ' | ' | ' | ' | 4,100,000 | 4,100,000 | ' | ' | ' | ' | ' | ' |
Deferred tax valuation allowance | $474,000 | $500,000 | $0 | $0 | ' | ' | ' | ' | $500,000 | ' | ' | ' |
Supplemental_Data_for_Cash_Flo2
Supplemental Data for Cash Flows - Schedule of Supplemental Cash Flow Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Cash Flows [Abstract] | ' | ' |
Interest | $15,450 | $14,038 |
Taxes | 30,834 | 35,515 |
Net change in unrealized gains/losses on investment securities AFS | 23,687 | -18,488 |
Loans and other assets transferred to foreclosed assets not covered by FDIC loss share agreements | 9,112 | 4,497 |
Loans advanced for sales of foreclosed assets not covered by FDIC loss share agreements | 258 | 2,942 |
Covered loans transferred to covered foreclosed assets | 30,754 | 24,306 |
Unsettled AFS investment security purchases | 0 | 730 |
Common stock issued in merger and acquisition transactions | $166,402 | $60,079 |
Guarantees_and_Commitments_Add
Guarantees and Commitments - Additional Information (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Guarantees And Commitments [Line Items] | ' |
Outstanding commitments to extend credit, excluding commitments to extend credit on loans covered by FDIC loss share agreements | $2,580,000,000 |
Commitments extend over varying periods of time, in months | '12 months |
Commitments To Extend Credit [Member] | ' |
Guarantees And Commitments [Line Items] | ' |
Maximum amount of future payments required to make under guarantees | 9,300,000 |
Collateralized commitments | $9,100,000 |
Guarantees_and_Commitments_Con
Guarantees and Commitments - Contractual Maturities (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Fair Value Disclosures [Abstract] | ' |
2014 | $89,808 |
2015 | 209,595 |
2016 | 492,517 |
2017 | 1,259,690 |
2018 | 485,222 |
Thereafter | 47,613 |
Total | $2,584,445 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense for stock options included in non-interest expense | $0.40 | $0.40 | $1.60 | $1.30 |
Nonqualified Stock Option Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee options issued with a vesting period, years | ' | ' | '3 years | ' |
Employee options expire after issuance, years | ' | ' | '7 years | ' |
Number of shares available to non-employee directors through the non qualified stock option plan for non-employee directors | ' | ' | 2,000 | ' |
Expiration period of options issued to non-employee director | ' | ' | '10 years | ' |
Nonqualified Stock Option Plan [Member] | Director [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares available to non-employee directors through the non qualified stock option plan for non-employee directors | ' | ' | 2,000 | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total intrinsic value of options exercised during the period | ' | ' | 5 | 4.7 |
Options to purchase split-adjusted shares, granted | ' | ' | 52,000 | 48,000 |
Total unrecognized compensation expenses | 2.2 | ' | 2.2 | ' |
Unrecognized compensation cost, weighted-average period, years | ' | '1 year 9 months 18 days | ' | ' |
Restricted Stock Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Employee options issued with a vesting period, years | ' | ' | '3 years | ' |
Stock-based compensation expense for stock options included in non-interest expense | 0.9 | 0.6 | 2.8 | 1.9 |
Total unrecognized compensation expenses | $5.10 | ' | $5.10 | ' |
Unrecognized compensation cost, weighted-average period, years | ' | ' | '1 year 9 months 18 days | ' |
Restricted stock plan permitting issuance of restricted stock units, shares | 1,600,000 | ' | 1,600,000 | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | |
Outstanding - January 1, 2014, Options | 1,766,600 | ' | |
Granted, Options | 52,000 | ' | |
Exercised, Options | -228,600 | -356,800 | |
Forfeited, Options | -48,800 | ' | |
Outstanding - September 30, 2014, Options | 1,541,200 | ' | |
Fully vested and exercisable - September 30, 2014, Options | 305,600 | ' | |
Expected to vest in future periods, Options | 989,280 | ' | |
Fully vested and expected to vest - September 30, 2014, Options | 1,294,880 | ' | |
Outstanding - January 1, 2014, Weighted-Average Exercise Price/Share | $15.84 | ' | |
Granted, Weighted-Average Exercise Price/Share | $29.05 | ' | |
Exercised, Weighted-Average Exercise Price/Share | $9.05 | ' | |
Forfeited, Weighted-Average Exercise Price/Share | $18.36 | ' | |
Outstanding - September 30, 2014, Weighted-Average Exercise Price/Share | $17.21 | ' | |
Fully vested and exercisable - September 30, 2014, Weighted-Average Exercise Price/Share | $13.65 | ' | |
Fully vested and expected to vest - September 30, 2014, Weighted-Average Exercise Price/Share | $17.04 | ' | |
Outstanding - September 30, 2014, Weighted-Average Remaining Contractual Life (in years) | '5 years 2 months 12 days | ' | |
Fully vested and exercisable - September 30, 2014, Weighted-Average Remaining Contractual Life (in years) | '5 years 2 months 12 days | ' | |
Fully vested and expected to vest - September 30, 2014, Weighted-Average Remaining Contractual Life (in years) | '5 years 2 months 12 days | ' | |
Outstanding - September 30, 2014, Aggregate Intrinsic Value | $22,058 | ' | |
Fully vested and exercisable - September 30, 2014, Aggregate Intrinsic Value | 5,460 | ' | |
Fully vested and expected to vest - September 30, 2014, Aggregate Intrinsic Value | $18,744 | [1] | ' |
[1] | Based on closing price of $31.52 per share on September 30, 2014. |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Estimated number of common shares that could be forfeited before the vesting date | 246,320 |
Employee Stock Option [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common stock, closing price, per share | 31.52 |
StockBased_Compensation_Summar2
Stock-Based Compensation - Summary of Non-Vested Restricted Stock Activity (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments Restricted Stock [Abstract] | ' |
Outstanding - January 1, 2014 | 616,100 |
Granted | 0 |
Forfeited | -1,200 |
Vested | 0 |
Outstanding - September 30, 2014 | 614,900 |
Weighted-average grant date fair value | $17.99 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets at Fair Value (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | $859,876 | $669,384 | $671,393 |
Total investment securities AFS | 842,296 | 655,574 | 657,596 |
Impaired non-purchased loans and leases | 14,835 | 6,746 | 8,074 |
Impaired covered loans | 13,634 | 46,179 | 52,575 |
Impaired purchased non-covered loans | 1,657 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 14,781 | 11,851 | 11,647 |
Foreclosed assets covered by FDIC loss share agreements | 27,882 | 37,960 | 40,452 |
Total assets at fair value | 915,085 | 758,310 | 770,344 |
Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 587,579 | 435,989 | 431,568 |
U.S. Government Agency Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 254,062 | 218,869 | 225,311 |
Corporate Obligations [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 655 | 716 | 717 |
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total investment securities AFS | 0 | 0 | 0 |
Impaired non-purchased loans and leases | 0 | 0 | 0 |
Impaired covered loans | 0 | 0 | 0 |
Impaired purchased non-covered loans | 0 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 0 |
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 0 |
Total assets at fair value | 0 | 0 | 0 |
Level 1 [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 0 | 0 | 0 |
Level 1 [Member] | U.S. Government Agency Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 0 | 0 | 0 |
Level 1 [Member] | Corporate Obligations [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 0 | 0 | 0 |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total investment securities AFS | 822,738 | 636,892 | 638,798 |
Impaired non-purchased loans and leases | 0 | 0 | 0 |
Impaired covered loans | 0 | 0 | 0 |
Impaired purchased non-covered loans | 0 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 0 | 0 | 0 |
Foreclosed assets covered by FDIC loss share agreements | 0 | 0 | 0 |
Total assets at fair value | 822,738 | 636,892 | 638,798 |
Level 2 [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 568,021 | 417,307 | 412,770 |
Level 2 [Member] | U.S. Government Agency Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 254,062 | 218,869 | 225,311 |
Level 2 [Member] | Corporate Obligations [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 655 | 716 | 717 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total investment securities AFS | 19,558 | 18,682 | 18,798 |
Impaired non-purchased loans and leases | 14,835 | 6,746 | 8,074 |
Impaired covered loans | 13,634 | 46,179 | 52,575 |
Impaired purchased non-covered loans | 1,657 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 14,781 | 11,851 | 11,647 |
Foreclosed assets covered by FDIC loss share agreements | 27,882 | 37,960 | 40,452 |
Total assets at fair value | 92,347 | 121,418 | 131,546 |
Level 3 [Member] | Obligations of State and Political Subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 19,558 | 18,682 | 18,798 |
Level 3 [Member] | U.S. Government Agency Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | 0 | 0 | 0 |
Level 3 [Member] | Corporate Obligations [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Investment securities AFS | $0 | $0 | $0 |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets at Fair Value (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Fair Value Disclosures [Abstract] | ' | ' | ' |
Investments carried at cost | $17.60 | $13.80 | $13.80 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Information Related to Level 3 Non-Recurring Fair Value Measurements (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value Measurements Disclosure [Line Items] | ' | ' | ' |
Impaired non-purchased loans and leases | $14,835 | $6,746 | $8,074 |
Impaired covered loans | 13,634 | 46,179 | 52,575 |
Impaired purchased non-covered loans | 1,657 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 14,781 | 11,851 | 11,647 |
Foreclosed assets covered by FDIC loss share agreements | 27,882 | 37,960 | 40,452 |
Level 3 [Member] | ' | ' | ' |
Fair Value Measurements Disclosure [Line Items] | ' | ' | ' |
Impaired non-purchased loans and leases | 14,835 | 6,746 | 8,074 |
Impaired covered loans | 13,634 | 46,179 | 52,575 |
Impaired purchased non-covered loans | 1,657 | ' | ' |
Foreclosed assets not covered by FDIC loss share agreements | 14,781 | 11,851 | 11,647 |
Foreclosed assets covered by FDIC loss share agreements | $27,882 | $37,960 | $40,452 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value of private placement bonds | $19,600,000 | $19,600,000 | ' | ' |
Third party pricing for private placement bonds | 19,600,000 | 19,600,000 | ' | ' |
Carrying value of private placement bonds | 19,600,000 | 19,600,000 | ' | ' |
Impaired financing receivable recorded investment reduction to estimated fair value | 5,400,000 | 5,400,000 | ' | ' |
Estimated fair value of impaired loans and leases | 14,800,000 | 14,800,000 | ' | ' |
Partial charge-offs to reduce carrying value of impaired loans and leases to estimated fair value | 4,400,000 | 4,400,000 | ' | ' |
Specific loan and lease allocations to reduce carrying value of impaired loans and leases to estimated fair value | 1,000,000 | 1,000,000 | ' | ' |
Partial charge-offs, net of adjustments to the FDIC loss share receivable and the FDIC clawback payable | 200,000 | 900,000 | ' | ' |
Provision for loans and lease losses to cover charge-offs | 200,000 | 900,000 | ' | ' |
Impaired covered loans | 13,634,000 | 13,634,000 | 46,179,000 | 52,575,000 |
Impaired purchased non-covered loans partial charge-offs | 300,000 | 900,000 | ' | ' |
Impaired purchased non-covered loans | 1,657,000 | 1,657,000 | ' | ' |
Estimated cost to sell percentage, minimum | ' | 8.00% | ' | ' |
Estimated cost to sell percentage, maximum | ' | 10.00% | ' | ' |
Non Purchase Loan [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Carrying value of impaired non-purchased loans and leases | ' | $5,400,000 | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Discount rate to determine the net present value of expected cash flows | ' | 6.00% | ' | ' |
Discount rate of covered other real estate | ' | 8.00% | ' | ' |
Minimum [Member] | Impaired Purchased Non Covered Loans [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Discount rate to determine the net present value of expected cash flows | ' | 6.00% | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Discount rate to determine the net present value of expected cash flows | ' | 9.50% | ' | ' |
Discount rate of covered other real estate | ' | 9.50% | ' | ' |
Maximum [Member] | Impaired Purchased Non Covered Loans [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Discount rate to determine the net present value of expected cash flows | ' | 9.50% | ' | ' |
Fair_Value_Measurements_Assets2
Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis Utilizing Level 3 Inputs (Detail) (Investment Securities AFS [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Investment Securities AFS [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning Balance, Asset | $18,682 | $104,172 |
Total realized gains (losses) included in earnings | 0 | 0 |
Total unrealized gains (losses) included in comprehensive income | 497 | -1,940 |
Acquired | 1,907 | ' |
Paydowns and maturities | -672 | -32,647 |
Sales | -856 | 0 |
Transfers in and/or out of Level 3 | 0 | -50,787 |
Ending Balance, Asset | $19,558 | $18,798 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Fair Value Disclosures [Abstract] | ' | ' | ' |
Investments in bank stock | $17.60 | $13.80 | $13.80 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities AFS | $859,876 | $669,384 | $671,393 |
Time deposits | 1,262,332 | 897,210 | 977,656 |
Other borrowings | 352,616 | 280,895 | 280,905 |
FDIC clawback payable | 26,676 | 25,897 | 25,705 |
Carrying Amount [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Cash and cash equivalents | 112,084 | 195,975 | 124,458 |
Demand, savings and interest bearing transaction deposits | 3,877,373 | 2,819,817 | 2,677,030 |
Repurchase agreements with customers | 73,942 | 53,103 | 50,254 |
Carrying Amount [Member] | Level 2 and 3 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities AFS | 859,876 | 669,384 | 671,393 |
Carrying Amount [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Loans and leases, net of ALLL | 4,869,329 | 3,314,134 | 3,289,306 |
FDIC loss share receivable | 36,583 | 71,854 | 89,642 |
FDIC clawback payable | 26,676 | 25,897 | 25,705 |
Carrying Amount [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Time deposits | 1,262,332 | 897,210 | 977,656 |
Other borrowings | 352,616 | 280,895 | 280,905 |
Subordinated debentures | 64,950 | 64,950 | 64,950 |
Estimated Fair Value [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Cash and cash equivalents | 112,084 | 195,975 | 124,458 |
Demand, savings and interest bearing transaction deposits | 3,877,373 | 2,819,817 | 2,677,030 |
Repurchase agreements with customers | 73,942 | 53,103 | 50,254 |
Estimated Fair Value [Member] | Level 2 and 3 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities AFS | 859,876 | 669,384 | 671,393 |
Estimated Fair Value [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Loans and leases, net of ALLL | 4,822,383 | 3,286,600 | 3,263,428 |
FDIC loss share receivable | 36,130 | 71,770 | 89,617 |
FDIC clawback payable | 26,676 | 25,897 | 25,705 |
Estimated Fair Value [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Time deposits | 1,263,635 | 897,708 | 978,202 |
Other borrowings | 373,696 | 319,650 | 322,171 |
Subordinated debentures | $33,452 | $30,974 | $30,815 |
Recovered_Sheet1
Changes in and Reclassifications from Accumulated Other Comprehensive Income ("AOCI") - Changes in Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance of AOCI - unrealized gains and losses on investment securities AFS | ' | ' | ($3,672) | ' |
Total other comprehensive income (loss) | 718 | 445 | 14,396 | -11,236 |
Ending balance of AOCI - unrealized gains and losses on investment securities AFS | 10,724 | -453 | 10,724 | -453 |
Unrealized gains and losses on investment securities AFS [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance of AOCI - unrealized gains and losses on investment securities AFS | 10,006 | -898 | -3,672 | 10,783 |
Other comprehensive income (loss) before reclassifications | 744 | 445 | 14,437 | -11,142 |
Amounts reclassified from AOCI | -26 | 0 | -41 | -94 |
Total other comprehensive income (loss) | 718 | 445 | 14,396 | -11,236 |
Ending balance of AOCI - unrealized gains and losses on investment securities AFS | $10,724 | ($453) | $10,724 | ($453) |
Recovered_Sheet2
Changes in and Reclassifications from Accumulated Other Comprehensive Income ("AOCI") - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Equity [Abstract] | ' | ' | ' | ' |
Amounts reclassified for net gains on investment securities | ($43) | $0 | ($67) | ($156) |
Related tax effect | $17 | $0 | $26 | $62 |