Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 04, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Prosperity Bancshares Inc. | |
Entity Central Index Key | 1,068,851 | |
Trading Symbol | pb | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 69,479,611 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 333,208 | $ 562,544 |
Federal funds sold | 484 | 1,418 |
Total cash and cash equivalents | 333,692 | 563,962 |
Available for sale securities, at fair value | 139,202 | 103,064 |
Held to maturity securities, at cost (fair value of $9,279,813 and $9,393,175, respectively) | 9,135,449 | 9,399,363 |
Total securities | 9,274,651 | 9,502,427 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 31,831 | 23,933 |
Loans held for investment | 9,618,177 | 9,414,656 |
Total loans | 9,650,008 | 9,438,589 |
Less: allowance for credit losses | (83,826) | (81,384) |
Loans, net | 9,566,182 | 9,357,205 |
Accrued interest receivable | 51,486 | 51,924 |
Goodwill | 1,903,451 | 1,868,827 |
Core deposit intangibles, net | 44,861 | 49,417 |
Bank premises and equipment, net | 273,104 | 267,996 |
Other real estate owned | 15,677 | 2,963 |
Bank owned life insurance (BOLI) | 247,057 | 235,429 |
Federal Home Loan Bank of Dallas stock | 39,557 | 68,413 |
Other assets | 46,592 | 68,653 |
TOTAL ASSETS | 21,796,310 | 22,037,216 |
Deposits: | ||
Noninterest-bearing | 5,016,637 | 5,136,579 |
Interest-bearing | 12,202,508 | 12,544,540 |
Total deposits | 17,219,145 | 17,681,119 |
Other borrowings | 606,049 | 491,399 |
Securities sold under repurchase agreements | 320,001 | 315,253 |
Accrued interest payable | 2,225 | 1,896 |
Other liabilities | 104,306 | 84,639 |
Total liabilities | 18,251,726 | 18,574,306 |
COMMITMENTS AND CONTINGENCIES | ||
SHAREHOLDERS’ EQUITY: | ||
Preferred stock, $1 par value; 20,000,000 shares authorized; none issued or outstanding | ||
Common stock, $1 par value; 200,000,000 shares authorized; 69,480,111 shares issued and outstanding at June 30, 2016; 70,058,761 shares issued and 70,021,673 shares outstanding at December 31, 2015 | 69,480 | 70,059 |
Capital surplus | 2,023,179 | 2,036,378 |
Retained earnings | 1,450,302 | 1,355,040 |
Accumulated other comprehensive income—net unrealized gain on available for sale securities, net of tax of $873 and $1,098, respectively | 1,623 | 2,040 |
Less treasury stock, at cost, 37,088 shares | (607) | |
Total shareholders’ equity | 3,544,584 | 3,462,910 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 21,796,310 | $ 22,037,216 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Held to maturity securities, fair value | $ 9,279,813 | $ 9,393,175 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 69,480,111 | 70,058,761 |
Common stock, shares outstanding (in shares) | 69,480,111 | 70,021,673 |
Accumulated other comprehensive income-net unrealized gain on available for sale securities, tax | $ 873 | $ 1,098 |
Treasury stock, shares (in shares) | 0 | 37,088 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
INTEREST INCOME: | ||||
Loans, including fees | $ 118,297 | $ 119,404 | $ 242,819 | $ 244,282 |
Securities | 51,097 | 48,530 | 103,670 | 97,092 |
Federal funds sold | 65 | 47 | 161 | 212 |
Total interest income | 169,459 | 167,981 | 346,650 | 341,586 |
INTEREST EXPENSE: | ||||
Deposits | 10,045 | 9,169 | 20,251 | 18,746 |
Other borrowings | 710 | 365 | 1,192 | 494 |
Securities sold under repurchase agreements | 234 | 208 | 446 | 411 |
Junior subordinated debentures | 3 | 37 | 791 | |
Total interest expense | 10,992 | 9,742 | 21,926 | 20,442 |
NET INTEREST INCOME | 158,467 | 158,239 | 324,724 | 321,144 |
Provision for credit losses | 6,000 | 500 | 20,000 | 1,750 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 152,467 | 157,739 | 304,724 | 319,394 |
NONINTEREST INCOME: | ||||
Nonsufficient funds (NSF) fees | 8,031 | 8,310 | 16,220 | 16,228 |
Credit card, debit card and ATM card income | 5,929 | 6,003 | 11,756 | 11,641 |
Service charges on deposit accounts | 4,610 | 4,189 | 9,200 | 8,368 |
Trust income | 1,762 | 2,047 | 3,789 | 4,056 |
Mortgage income | 1,772 | 1,513 | 3,243 | 2,661 |
Brokerage income | 1,286 | 1,541 | 2,576 | 2,950 |
Net gain on sale of assets | 332 | 270 | 1,352 | 1,649 |
Other | 4,751 | 6,424 | 11,130 | 11,165 |
Total noninterest income | 28,473 | 30,297 | 59,266 | 58,718 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 48,224 | 47,819 | 98,338 | 97,785 |
Net occupancy and equipment | 5,741 | 5,812 | 11,365 | 11,776 |
Credit and debit card, data processing and software amortization | 4,164 | 4,045 | 8,594 | 7,862 |
Regulatory assessments and FDIC insurance | 3,447 | 4,253 | 6,877 | 8,607 |
Core deposit intangibles amortization | 2,334 | 2,390 | 4,556 | 4,879 |
Depreciation | 3,286 | 3,420 | 6,635 | 6,336 |
Communications | 2,981 | 2,835 | 5,920 | 5,644 |
Other real estate expense | 50 | 129 | 92 | 261 |
Other | 9,008 | 9,032 | 17,386 | 16,047 |
Total noninterest expense | 79,235 | 79,735 | 159,763 | 159,197 |
INCOME BEFORE INCOME TAXES | 101,705 | 108,301 | 204,227 | 218,915 |
PROVISION FOR INCOME TAXES | 33,634 | 36,369 | 67,205 | 73,342 |
NET INCOME | $ 68,071 | $ 71,932 | $ 137,022 | $ 145,573 |
EARNINGS PER SHARE: | ||||
Basic (in dollars per share) | $ 0.98 | $ 1.03 | $ 1.96 | $ 2.08 |
Diluted (in dollars per share) | $ 0.98 | $ 1.03 | $ 1.96 | $ 2.08 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 68,071 | $ 71,932 | $ 137,022 | $ 145,573 |
Securities available for sale: | ||||
Change in unrealized gain during period | (790) | (640) | (642) | (1,082) |
Total other comprehensive loss | 790 | 640 | 642 | 1,082 |
Deferred taxes related to other comprehensive loss | 277 | 224 | 225 | 379 |
Other comprehensive loss, net of tax | (513) | (416) | (417) | (703) |
Comprehensive income | $ 67,558 | $ 71,516 | $ 136,605 | $ 144,870 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Sharesholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
BALANCE (in shares) at Dec. 31, 2014 | 69,816,653 | |||||
BALANCE at Dec. 31, 2014 | $ 69,817 | $ 2,025,235 | $ 1,146,652 | $ 3,729 | $ (607) | $ 3,244,826 |
Net income | 145,573 | 145,573 | ||||
Other comprehensive loss | (703) | (703) | ||||
Common stock issued in connection with the exercise of stock options and restricted stock awards (in shares) | 260,125 | |||||
Common stock issued in connection with the exercise of stock options and restricted stock awards | $ 260 | (193) | 67 | |||
Stock based compensation expense | 5,690 | 5,690 | ||||
Cash dividends declared, $0.5450 per share | (38,168) | (38,168) | ||||
BALANCE (in shares) at Jun. 30, 2015 | 70,076,778 | |||||
BALANCE at Jun. 30, 2015 | $ 70,077 | 2,030,732 | 1,254,057 | 3,026 | (607) | 3,357,285 |
BALANCE (in shares) at Dec. 31, 2015 | 70,058,761 | |||||
BALANCE at Dec. 31, 2015 | $ 70,059 | 2,036,378 | 1,355,040 | 2,040 | (607) | 3,462,910 |
Net income | 137,022 | 137,022 | ||||
Other comprehensive loss | (417) | (417) | ||||
Common stock issued in connection with the exercise of stock options and restricted stock awards (in shares) | 23,800 | |||||
Common stock issued in connection with the exercise of stock options and restricted stock awards | $ 24 | 174 | 198 | |||
Stock based compensation expense | 5,166 | 5,166 | ||||
Cash dividends declared, $0.5450 per share | (41,760) | (41,760) | ||||
BALANCE (in shares) at Jun. 30, 2016 | 69,480,111 | |||||
BALANCE at Jun. 30, 2016 | $ 69,480 | 2,023,179 | 1,450,302 | 1,623 | 0 | 3,544,584 |
Common stock issued in connection with the acquisition of Tradition Bancshares, Inc. (in shares) | 679,528 | |||||
Common stock issued in connection with the acquisition of Tradition Bancshares, Inc. | $ 679 | 31,843 | 32,522 | |||
Treasury stock cancellation (in shares) | (37,088) | |||||
Treasury stock cancellation | $ (37) | (570) | 607 | |||
Common stock repurchase (in shares) | (1,244,890) | |||||
Common stock repurchase | $ (1,245) | $ (49,812) | $ (51,057) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Sharesholders' Equity (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Retained Earnings [Member] | ||
Cash dividend declared, per share (in dollars per share) | $ 0.60 | $ 0.545 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Tradition Bancshares Inc [Member] | ||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net cash used in the purchase of Tradition Bancshares, Inc. | $ (8,963) | |
NONCASH ACTIVITIES: | ||
Stock issued in connection with the Tradition Bancshares, Inc. acquisition | 32,522 | |
Net income | 137,022 | 145,573 |
Depreciation and core deposit intangibles amortization | 11,191 | 11,215 |
Provision for credit losses | 20,000 | 1,750 |
Net amortization of premium on investments | 20,660 | 29,611 |
Loss (gain) on sale of other real estate | 333 | (18) |
Gain on sale of assets | (1,352) | (1,649) |
Net accretion of discount on loans | (23,798) | (33,249) |
Net accretion of discount on deposits | (360) | (640) |
Gain on sale of loans | (2,961) | (2,565) |
Proceeds from sale of loans held for sale | 128,340 | 107,027 |
Originations of loans held for sale | (133,277) | (106,342) |
Stock based compensation expense | 5,166 | 5,690 |
Decrease in accrued interest receivable and other assets | 56,165 | 14,699 |
Increase in accrued interest payable and other liabilities | 9,817 | 25,370 |
Net cash provided by operating activities | 226,946 | 196,472 |
Proceeds from maturities and principal paydowns of held to maturity securities | 883,538 | 818,864 |
Purchase of held to maturity securities | (395,228) | (1,522,964) |
Proceeds from maturities and principal paydowns of available for sale securities | 7,314,308 | 1,831,103 |
Purchase of available for sale securities | (7,351,075) | (1,810,000) |
Net decrease in loans held for investment | 27,634 | 161,954 |
Purchase of bank premises and equipment | (3,361) | (5,400) |
Proceeds from sale of bank premises, equipment and other real estate | 6,910 | 6,418 |
Net cash provided by (used in) investing activities | 473,763 | (520,025) |
Net (decrease) increase in noninterest-bearing deposits | (429,921) | 104,208 |
Net decrease in interest-bearing deposits | (520,620) | (795,062) |
Net proceeds from other short-term borrowings | 115,000 | 880,000 |
Repayments of other long-term borrowings | (350) | (1,983) |
Net increase in securities sold under repurchase agreements | 4,748 | 18,666 |
Redemption of junior subordinated debentures | (7,217) | (167,531) |
Proceeds from stock option exercises | 198 | 67 |
Repurchase of common stock | (51,057) | |
Payments of cash dividends | (41,760) | (38,168) |
Net cash (used in) provided by financing activities | (930,979) | 197 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (230,270) | (323,356) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 563,962 | 677,854 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 333,692 | 354,498 |
Acquisition of real estate through foreclosure of collateral | 13,855 | 1,166 |
SUPPLEMENTAL INFORMATION: | ||
Income taxes paid | 48,832 | 42,580 |
Interest paid | $ 21,597 | $ 21,517 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. BASIS OF PRESENTATION The consolidated financial statements include the accounts of Prosperity Bancshares, Inc. ® (“Bancshares”) and its wholly-owned subsidiary, Prosperity Bank ® (the “Bank,” collectively referred to as the “Company”). All intercompany transactions and balances have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for financial information and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Operating results for the six-month period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or any other period. |
Note 2 - Income Per Common Shar
Note 2 - Income Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2. INCOME PER COMMON SHARE Outstanding stock options issued by the Company represent the only dilutive effect reflected in diluted weighted average shares. The following table illustrates the computation of basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Per Share Per Share Per Share Per Share Amount Amount Amount Amount Amount Amount Amount Amount (Amounts in thousands, except per share data) Net income $ 68,071 $ 71,932 $ 137,022 $ 145,573 Basic: Weighted average shares outstanding 69,565 $ 0.98 70,037 $ 1.03 69,869 $ 1.96 70,035 $ 2.08 Diluted: Add incremental shares for: Effect of dilutive securities - options 9 16 8 19 Total 69,574 $ 0.98 70,053 $ 1.03 69,877 $ 1.96 70,054 $ 2.08 There were no stock options exercisable during the three and six months ended June 30, 2016 or 2015 that would have had an anti-dilutive effect on the above computation. |
Note 3 - New Accounting Standar
Note 3 - New Accounting Standards | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3. NEW ACCOUNTING STANDARDS Accounting Standards Updates (“ASU”) ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments.” ASU 2016-12, “Revenue from Contracts with Customers (Topic 606)—Narrow-Scope Improvements and Practical Expedients.” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ” ASU 2016-10, “Revenue from Contracts with Customers (Topic 606)—Identifying Performance Obligations and Licensing.” “Revenue from Contracts with Customers (Topic 606)” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606 ) ASU 2016-09, “Compensation - Stock Compensation (Topic 718) — Improvements to Employee Share-Based Payment Accounting.” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606)—Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ASU 2016-02 , "Leases (Topic 842) . " ASU 2016-01, “Financial Instruments—Overall (Subtopic 825-10) — Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2015-16, “Business Combinations (Topic 805) — Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) — Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2014-1 2, “ Compensation - Stock Compensation (Topic 718) — Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-09 , “Revenue from Contract s with Customers (Topic 606).” ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)—Deferral of the Effective Date” |
Note 4 - Securities
Note 4 - Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. SECURITIES The amortized cost and fair value of investment securities were as follows: June 30, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Available for Sale States and political subdivisions $ 2,574 $ 6 $ - $ 2,580 Collateralized mortgage obligations 22,960 92 (4 ) 23,048 Mortgage-backed securities 98,583 2,759 (563 ) 100,779 Other securities 12,588 253 (46 ) 12,795 Total $ 136,705 $ 3,110 $ (613 ) $ 139,202 Held to Maturity U.S. Treasury securities and obligations of U.S. Government agencies $ 33,437 $ 1,167 $ - $ 34,604 States and political subdivisions 417,532 8,700 (78 ) 426,154 Collateralized mortgage obligations 967 21 (1 ) 987 Mortgage-backed securities 8,683,413 140,777 (6,221 ) 8,817,969 Other securities 100 - (1 ) 99 Total $ 9,135,449 $ 150,665 $ (6,301 ) $ 9,279,813 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Available for Sale States and political subdivisions $ 5,463 $ 22 $ - $ 5,485 Collateralized mortgage obligations 25,991 25 (100 ) 25,916 Mortgage-backed securities 55,884 3,098 (11 ) 58,971 Other securities 12,588 150 (46 ) 12,692 Total $ 99,926 $ 3,295 $ (157 ) $ 103,064 Held to Maturity U.S. Treasury securities and obligations of U.S. Government agencies $ 47,598 $ 798 $ - $ 48,396 States and political subdivisions 363,505 7,080 (542 ) 370,043 Collateralized mortgage obligations 2,107 17 (2 ) 2,122 Mortgage-backed securities 8,986,153 68,868 (82,407 ) 8,972,614 Other securities - - - - Total $ 9,399,363 $ 76,763 $ (82,951 ) $ 9,393,175 Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment securities portfolio is evaluated for OTTI by segregating the portfolio into two general segments and applying the appropriate OTTI analysis. Investment securities classified as available for sale or held to maturity are evaluated for OTTI under Financial Accounting Standards Board (“FASB”): Accounting Standards Codification (“ASC”) Topic 320, “ Investments-Debt and Equity Securities In determining OTTI, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the OTTI will be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, the OTTI will be separated into the amount representing the credit-related portion of the impairment loss (“credit loss”) and the noncredit portion of the impairment loss (“noncredit portion”). The amount of the total OTTI related to the credit loss is determined based on the difference between the present value of cash flows expected to be collected and the amortized cost basis and such difference is recognized in earnings. The amount of the total OTTI related to the noncredit portion is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings will become the new amortized cost basis of the investment. As of June 30, 2016, management does not have the intent to sell any of its investment securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of June 30, 2016, management believes any impairment in the Company’s securities is temporary, and therefore no impairment loss has been realized in the Company’s consolidated statement of income. Securities with unrealized losses, segregated by length of time, that have been in a continuous loss position were as follows: June 30, 2016 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for Sale Collateralized mortgage obligations $ 1,900 $ (2 ) $ 155 $ (2 ) $ 2,055 $ (4 ) Mortgage-backed securities 51,975 (554 ) 2,228 (9 ) 54,203 (563 ) Other securities - - 1,691 (46 ) 1,691 (46 ) Total $ 53,875 $ (556 ) $ 4,074 $ (57 ) $ 57,949 $ (613 ) Held to Maturity States and political subdivisions $ 20,904 $ (21 ) $ 10,621 $ (57 ) $ 31,525 $ (78 ) Collateralized mortgage obligations - - 61 (1 ) 61 (1 ) Mortgage-backed securities 67,160 (741 ) 1,189,259 (5,480 ) 1,256,419 (6,221 ) Other securities 99 (1 ) - - 99 (1 ) Total $ 88,163 $ (763 ) $ 1,199,941 $ (5,538 ) $ 1,288,104 $ (6,301 ) December 31, 2015 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for Sale Collateralized mortgage obligations $ 14,331 $ (100 ) $ 1 $ - $ 14,332 $ (100 ) Mortgage-backed securities 793 (1 ) 2,465 (10 ) 3,258 (11 ) Other securities - - 1,691 (46 ) 1,691 (46 ) Total $ 15,124 $ (101 ) $ 4,157 $ (56 ) $ 19,281 $ (157 ) Held to Maturity States and political subdivisions $ 15,700 $ (82 ) $ 45,952 $ (460 ) $ 61,652 $ (542 ) Collateralized mortgage obligations 156 - 94 (2 ) 250 (2 ) Mortgage-backed securities 3,233,601 (36,016 ) 1,662,482 (46,391 ) 4,896,083 (82,407 ) Other securities - - - - - - Total $ 3,249,457 $ (36,098 ) $ 1,708,528 $ (46,853 ) $ 4,957,985 $ (82,951 ) At June 30, 2016 and December 31, 2015, there were 428 securities and 474 securities, respectively, in an unrealized loss position for more than 12 months. The amortized cost and fair value of investment securities at June 30, 2016, by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations at any time with or without call or prepayment penalties. Held to Maturity Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 34,340 $ 34,454 $ 12,689 $ 12,895 Due after one year through five years 193,718 196,821 2,473 2,480 Due after five years through ten years 191,834 197,630 - - Due after ten years 31,177 31,952 - - Subtotal 451,069 460,857 15,162 15,375 Mortgage-backed securities and collateralized mortgage obligations 8,684,380 8,818,956 121,543 123,827 Total $ 9,135,449 $ 9,279,813 $ 136,705 $ 139,202 The Company recorded no gain or loss on sale of securities for the three and six months ended June 30, 2016 and 2015. As of June 30, 2016, the Company did not own any non-agency collateralized mortgage obligations. At June 30, 2016 and December 31, 2015, the Company did not own securities of any one issuer (other than the U.S. government and its agencies) for which aggregate adjusted cost exceeded 10% of the consolidated shareholders’ equity at such respective dates. Securities with an amortized cost of $5.60 billion and $5.81 billion and a fair value of $5.68 billion and $5.79 billion at June 30, 2016 and December 31, 2015, respectively, were pledged to collateralize public deposits and for other purposes required or permitted by law. |
Note 5 - Loans and Allowance fo
Note 5 - Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans and Allowance for Credit Losses [Text Block] | 5. LOANS AND ALLOWANCE FOR CREDIT LOSSES The loan portfolio consists of various types of loans made principally to borrowers located within the states of Texas and Oklahoma and is categorized by major type as follows: June 30, December 31, 2016 2015 (Dollars in thousands) Residential mortgage loans held for sale $ 31,831 $ 23,933 Commercial and industrial 1,627,719 1,692,246 Real estate: Construction, land development and other land loans 1,167,286 1,073,198 1-4 family residential (includes home equity) 2,676,249 2,616,732 Commercial real estate (includes multi-family residential) 3,229,556 3,131,083 Farmland 459,303 434,349 Agriculture 198,330 214,469 Consumer and other 259,734 252,579 Total loans held for investment 9,618,177 9,414,656 Total $ 9,650,008 $ 9,438,589 Concentrations of Credit. Foreign Loans. Related Party Loans. An analysis of activity with respect to these related party loans is as follows: June 30, December 31, 2016 2015 (Dollars in thousands) Beginning balance on January 1 $ 4,063 $ 4,940 New loans 160 428 Repayments and reclassified related loans (64 ) (1,305 ) Ending balance $ 4,159 $ 4,063 Non performing Assets and Non accrual and Past Due Loans. The Company generally places a loan on nonaccrual status and ceases accruing interest when the payment of principal or interest is delinquent for 90 days, or earlier in some cases, unless the loan is in the process of collection and the underlying collateral fully supports the carrying value of the loan. With respect to potential problem loans, an evaluation of the borrower’s overall financial condition is made to determine the need, if any, for possible writedowns or appropriate additions to the allowance for credit losses. An aging analysis of past due loans, segregated by category of loan, is presented below: June 30, 2016 Loans Past Due and Still Accruing 90 or More Total Past Nonaccrual Current Total 30-89 Days Days Due Loans Loans Loans Loans (Dollars in thousands) Construction, land development and other land loans $ 7,235 $ 286 $ 7,521 $ 109 $ 1,159,656 $ 1,167,286 Agriculture and agriculture real estate (includes farmland) 564 814 1,378 869 655,386 657,633 1-4 family (includes home equity) (1) 2,068 - 2,068 4,305 2,701,707 2,708,080 Commercial real estate (includes multi-family residential) 5,884 3,990 9,874 9,086 3,210,596 3,229,556 Commercial and industrial 16,938 1,683 18,621 14,953 1,594,145 1,627,719 Consumer and other 643 49 692 225 258,817 259,734 Total $ 33,332 $ 6,822 $ 40,154 $ 29,547 $ 9,580,307 $ 9,650,008 December 31, 2015 Loans Past Due and Still Accruing 90 or More Total Past Nonaccrual Current Total 30-89 Days Days Due Loans Loans Loans Loans (Dollars in thousands) Construction, land development and other land loans $ 4,097 $ - $ 4,097 $ 134 $ 1,068,967 $ 1,073,198 Agriculture and agriculture real estate (includes farmland) 946 - 946 208 647,664 648,818 1-4 family (includes home equity) (1) 4,748 220 4,968 1,894 2,633,803 2,640,665 Commercial real estate (includes multi-family residential) 12,922 - 12,922 15,535 3,102,626 3,131,083 Commercial and industrial 4,793 394 5,187 21,692 1,665,367 1,692,246 Consumer and other 1,274 - 1,274 248 251,057 252,579 Total $ 28,780 $ 614 $ 29,394 $ 39,711 $ 9,369,484 $ 9,438,589 (1) Includes $31.8 million and $23.9 million of residential mortgage loans held for sale at June 30, 2016 and December 31, 2015, respectively. The following table presents information regarding nonperforming assets as of the dates indicated: June 30, December 31, 2016 2015 (Dollars in thousands) Nonaccrual loans (1) $ 29,547 $ 39,711 Accruing loans 90 or more days past due 6,822 614 Total nonperforming loans 36,369 40,325 Repossessed assets 84 171 Other real estate 15,677 2,963 Total nonperforming assets $ 52,130 $ 43,459 Nonperforming assets to total loans and other real estate 0.54 % 0.46 % (1) Includes troubled debt restructurings of $404 thousand and $681 thousand as of June 30, 2016 and December 31, 2015, respectively. The Company had $52.1 million in nonperforming assets at June 30, 2016 compared with $43.5 million at December 31, 2015. This increase was primarily due to two commercial real estate loans. Nonperforming assets were 0.54% of total loans and other real estate at June 30, 2016 compared with 0.46% of total loans and other real estate at December 31, 2015. These low nonperforming assets to total loans and other real estate ratios are reflective of the Company’s conservative lending approach. If interest on nonaccrual loans had been accrued under the original loan terms, approximately $1.7 million and $1.6 million would have been recorded as income for the six months ended June 30, 2016 and 2015, respectively. Acquired Loans. Non-PCI loan identification considers the following factors: account types, remaining terms, annual interest rates or coupons, current market rates, interest types, past delinquencies, timing of principal and interest payments, loan to value ratios, loss exposures and remaining balances. Accretion of purchased discounts on PCI loans will be based on estimated future cash flows, regardless of contractual maturities. Accretion of purchased discounts on Non-PCI loans will be recognized on a level-yield basis based on contractual maturity of individual loans. PCI Loans. June 30, December 31, 2016 2015 (Dollars in thousands) PCI loans: Outstanding balance $ 65,571 $ 79,802 Less: discount 30,479 39,976 Recorded investment $ 35,092 $ 39,826 Changes in the accretable yield for acquired PCI loans for the three and six months ended June 30, 2016 and 2015 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Dollars in thousands) Balance at beginning of period $ 13,175 $ 7,870 $ 5,664 $ 9,867 Additions - - 10,222 - Reclassifications from nonaccretable 2,311 1,695 7,431 8,632 Accretion (3,471 ) (3,214 ) (11,302 ) (12,148 ) Balance at June 30 $ 12,015 $ 6,351 $ 12,015 $ 6,351 Income recognition on PCI loans is subject to the Company’s ability to reasonably estimate both the timing and amount of future cash flows. PCI loans for which the Company is accruing interest income are not considered non-performing or impaired. The non-accretable difference represents contractual principal and interest the Company does not expect to collect. Non-PCI Loans . June 30, December 31, 2016 2015 (Dollars in thousands) Non-PCI loans: Outstanding balance $ 1,382,690 $ 1,430,501 Less: discount 44,672 54,734 Recorded investment $ 1,338,018 $ 1,375,767 Changes in the discount accretion for Non-PCI loans for the three and six months ended June 30, 2016 and 2015 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Dollars in thousands) Balance at beginning of period $ 50,509 $ 78,289 $ 54,734 $ 89,105 Additions - - 3,491 - Accretion charge-offs (4 ) (6 ) (1,057 ) (109 ) Accretion (5,833 ) (10,388 ) (12,496 ) (21,101 ) Balance at June 30 $ 44,672 $ 67,895 $ 44,672 $ 67,895 Impaired Loans. Impaired loans are set forth in the following tables. No interest income was recognized on impaired loans subsequent to their classification as impaired. June 30, 2016 Unpaid Contractual Average Recorded Principal Related Recorded Investment Balance Allowance Investment (Dollars in thousands) With no related allowance recorded: Construction, land development and other land loans $ 15 $ 335 $ - $ 24 Agriculture and agriculture real estate (includes farmland) 869 893 - 445 1-4 family (includes home equity) 2,714 2,908 - 1,960 Commercial real estate (includes multi-family residential) 8,895 8,950 - 12,005 Commercial and industrial 4,739 5,023 - 3,047 Consumer and other 177 274 - 117 Total 17,409 18,383 - 17,598 With an allowance recorded: Construction, land development and other land loans - - - 4 Agriculture and agriculture real estate (includes farmland) - - - 95 1-4 family (includes home equity) 413 431 159 396 Commercial real estate (includes multi-family residential) 69 69 69 166 Commercial and industrial 10,191 11,537 3,772 12,393 Consumer and other 47 70 8 114 Total 10,720 12,107 4,008 13,168 Total: Construction, land development and other land loans 15 335 - 28 Agriculture and agriculture real estate (includes farmland) 869 893 - 540 1-4 family (includes home equity) 3,127 3,339 159 2,356 Commercial real estate (includes multi-family residential) 8,964 9,019 69 12,171 Commercial and industrial 14,930 16,560 3,772 15,440 Consumer and other 224 344 8 231 $ 28,129 $ 30,490 $ 4,008 $ 30,766 December 31, 2015 Unpaid Contractual Average Recorded Principal Related Recorded Investment Balance Allowance Investment (Dollars in thousands) With no related allowance recorded: Construction, land development and other land loans $ 33 $ 346 $ - $ 142 Agriculture and agriculture real estate (includes farmland) 20 23 - 10 1-4 family (includes home equity) 1,206 1,365 - 1,458 Commercial real estate (includes multi-family residential) 15,115 15,398 - 10,104 Commercial and industrial 1,354 1,630 - 5,419 Consumer and other 58 131 - 4,101 Total 17,786 18,893 - 21,234 With an allowance recorded: Construction, land development and other land loans 7 11 2 141 Agriculture and agriculture real estate (includes farmland) 189 201 52 118 1-4 family (includes home equity) 379 386 93 902 Commercial real estate (includes multi-family residential) 262 1,857 262 162 Commercial and industrial 14,594 16,413 7,082 8,524 Consumer and other 181 220 44 208 Total 15,612 19,088 7,535 10,055 Total: Construction, land development and other land loans 40 357 2 283 Agriculture and agriculture real estate (includes farmland) 209 224 52 128 1-4 family (includes home equity) 1,585 1,751 93 2,360 Commercial real estate (includes multi-family residential) 15,377 17,255 262 10,266 Commercial and industrial 15,948 18,043 7,082 13,943 Consumer and other 239 351 44 4,309 $ 33,398 $ 37,981 $ 7,535 $ 31,289 Credit Quality Indicators. Grade 1 — Grade 2 — Grade 3 — Grade 4 — Grade 5 — Grade 6 — Grade 7 — Grade 8 — Grade 9 — The following table presents risk grades and PCI loans by category of loan at June 30, 2016. Impaired loans include loans in risk grades 7, 8 and 9, as well as any PCI loan that has a specific reserve allocated to it. Construction, Agriculture and 1-4 Family Equity) (1) Commercial Residential) Commercial Industrial Consumer and Total (Dollars in thousands) Grade 1 $ - $ 13,036 $ - $ - $ 62,859 $ 41,423 $ 117,318 Grade 2 3,452 5,336 25,453 7,747 24,086 21,337 87,411 Grade 3 1,099,780 561,018 2,601,977 2,932,431 1,203,148 181,231 8,579,585 Grade 4 55,736 69,081 60,544 213,560 180,722 12,781 592,424 Grade 5 3,225 6,690 3,015 24,182 51,644 2 88,758 Grade 6 3,553 1,211 7,651 24,088 82,476 2,735 121,714 Grade 7 15 869 3,069 8,895 13,151 225 26,224 Grade 8 - - 57 69 1,356 - 1,482 Grade 9 - - - - - - - PCI Loans (2) 1,525 392 6,314 18,584 8,277 - 35,092 Total $ 1,167,286 $ 657,633 $ 2,708,080 $ 3,229,556 $ 1,627,719 $ 259,734 $ 9,650,008 (1) Includes $31.8 million of residential mortgage loans held for sale at June 30, 2016. (2) Of the total PCI loans, $1.9 million were classified as substandard at June 30, 2016, which includes $423 thousand with specific reserves allocated to them. The following table presents risk grades and PCI loans by category of loan at December 31, 2015. Impaired loans include loans in risk grades 7, 8 and 9, as well as any PCI loan that has a specific reserve allocated to it. Construction, Agriculture and 1-4 Family Commercial Commercial Consumer and Total (Dollars in thousands) Grade 1 $ - $ 12,733 $ - $ - $ 57,625 $ 44,389 $ 114,747 Grade 2 3,975 5,603 27,272 24,965 27,755 34,668 124,238 Grade 3 1,034,792 553,782 2,539,282 2,861,872 1,355,887 162,892 8,508,507 Grade 4 29,831 67,453 58,172 164,924 123,772 3,395 447,547 Grade 5 2,431 7,191 1,261 20,078 68,618 6,908 106,487 Grade 6 1,209 1,452 7,824 26,237 28,005 88 64,815 Grade 7 40 209 1,526 15,377 12,487 239 29,878 Grade 8 - - 59 - 2,485 - 2,544 Grade 9 - - - - - - - PCI Loans (2) 920 395 5,269 17,630 15,612 - 39,826 Total $ 1,073,198 $ 648,818 $ 2,640,665 $ 3,131,083 $ 1,692,246 $ 252,579 $ 9,438,589 (1) Includes $23.9 million of residential mortgage loans held for sale at December 31, 2015. (2) Of the total PCI loans, $7.3 million were classified as substandard at December 31, 2015, which includes $976 thousand with specific reserves allocated to them. Allowance for Credit Losses. The Company’s allowance for credit losses consists of two components: a specific valuation allowance based on probable losses on specifically identified loans and a general valuation allowance based on historical loan loss experience, general economic conditions and other qualitative risk factors both internal and external to the Company. In setting the specific valuation allowance, the Company follows a loan review program to evaluate the credit risk in the total loan portfolio and assigns risk grades to each loan. Through this loan review process, the Company maintains an internal list of impaired loans which, along with the delinquency list of loans, helps management assess the overall quality of the loan portfolio and the adequacy of the allowance for credit losses. All loans that have been identified as impaired are reviewed on a quarterly basis in order to determine whether a specific reserve is required. For certain impaired loans, the Company allocates a specific loan loss reserve primarily based on the value of the collateral securing the impaired loan in accordance with ASC Topic 310-10, “ Receivables. In connection with this review of the loan portfolio, the Company considers risk elements attributable to particular loan types or categories in assessing the quality of individual loans. Some of the risk elements include: • for 1-4 family residential mortgage loans, the borrower’s ability to repay the loan, including a consideration of the debt to income ratio and employment and income stability, the loan to value ratio, and the age, condition and marketability of collateral; • for commercial real estate loans and multifamily residential loans, the debt service coverage ratio (income from the property in excess of operating expenses compared to loan payment requirements), operating results of the owner in the case of owner-occupied properties, the loan to value ratio, the age and condition of the collateral and the volatility of income, property value and future operating results typical of properties of that type; • for construction, land development and other land loans, the perceived feasibility of the project including the ability to sell developed lots or improvements constructed for resale or the ability to lease property constructed for lease, the quality and nature of contracts for presale or prelease, if any, experience and ability of the developer and loan to value ratio; • for commercial and industrial loans, the operating results of the commercial, industrial or professional enterprise, the borrower’s business, professional and financial ability and expertise, the specific risks and volatility of income and operating results typical for businesses in that category and the value, nature and marketability of collateral; • for agricultural real estate loans, the experience and financial capability of the borrower, projected debt service coverage of the operations of the borrower and loan to value ratio; and • for non-real estate agricultural loans, the operating results, experience and financial capability of the borrower, historical and expected market conditions and the value, nature and marketability of collateral. In determining the amount of the general valuation allowance, management considers factors such as historical loan loss experience, concentration risk of specific loan types, the volume, growth and composition of the Company’s loan portfolio, current economic conditions that may affect the borrower’s ability to pay and the value of collateral, the evaluation of the Company’s loan portfolio through its internal loan review process, general economic conditions and other qualitative risk factors both internal and external to the Company and other relevant factors in accordance with ASC Topic 450, “ Contingencies. In addition, for each category, the Company considers secondary sources of income and the financial strength and credit history of the borrower and any guarantors. At June 30, 2016, the allowance for credit losses totaled $83.8 million or 0.87% of total loans, including acquired loans with discounts. At December 31, 2015, the allowance for credit losses totaled $81.4 million or 0.86% of total loans, including acquired loans with discounts. The following table details activity in the allowance for credit losses by category of loan for the three and six months ended June 30, 2016 and 2015 . Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Construction, and Other Land Loans Agriculture Real Estate (includes 1-4 Family Commercial Multi-Family Commercial Consumer Total (Dollars in thousands) Allowance for credit losses: Three Months Ended Balance March 31, 2016 $ 14,365 $ 3,572 $ 14,564 $ 12,391 $ 37,163 $ 1,659 $ 83,714 Provision for credit losses (188 ) (98 ) 274 478 3,200 2,334 6,000 Charge-offs - - (2 ) (198 ) (4,340 ) (2,577 ) (7,117 ) Recoveries 25 655 80 1 231 237 1,229 Net charge-offs 25 655 78 (197 ) (4,109 ) (2,340 ) (5,888 ) Balance June 30, 2016 $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 Six Months Ended Balance December 31, 2015 $ 14,882 $ 3,845 $ 14,891 $ 12,996 $ 33,409 $ 1,361 $ 81,384 Provision for credit losses (891 ) 6,591 (23 ) (68 ) 11,350 3,041 20,000 Charge-offs (7 ) (7,025 ) (51 ) (257 ) (10,617 ) (3,425 ) (21,382 ) Recoveries 218 718 99 1 2,112 676 3,824 Net charge-offs 211 (6,307 ) 48 (256 ) (8,505 ) (2,749 ) (17,558 ) Balance June 30, 2016 $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 Allowance for credit losses: Three Months Ended Balance Mar 31, 2015 $ 16,858 $ 3,277 $ 16,778 $ 12,538 $ 30,084 $ 1,428 $ 80,963 Provision for credit losses 49 429 (173 ) 578 (907 ) 524 500 Charge-offs - - (31 ) (136 ) (98 ) (744 ) (1,009 ) Recoveries 2 65 19 22 126 284 518 Net charge-offs 2 65 (12 ) (114 ) 28 (460 ) (491 ) Balance June 30, 2015 $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 Six Months Ended Balance December 31, 2014 $ 15,825 $ 3,722 $ 16,377 $ 12,744 $ 30,002 $ 2,092 $ 80,762 Provision for credit losses 1,227 (94 ) 314 405 (321 ) 219 1,750 Charge-offs (151 ) - (129 ) (179 ) (826 ) (1,473 ) (2,758 ) Recoveries 8 143 31 32 350 654 1,218 Net charge-offs (143 ) 143 (98 ) (147 ) (476 ) (819 ) (1,540 ) Balance June 30, 2015 $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 The following table details the amount of the allowance for credit losses allocated to each category of loan as of June 30, 2016, December 31, 2015 and June 30, 2015, on the basis of the impairment methodology used by the Company. Construction, and Other Land Loans Agriculture Real Estate (includes 1-4 Family ( Commercial Real Estate (includes Multi-Family Residential) Commercial and Industrial Consumer and Other Total (Dollars in thousands) Allowance for credit losses related to: June 30, 2016 Individually evaluated for impairment $ - $ - $ 159 $ 69 $ 3,772 $ 8 $ 4,008 Collectively evaluated for impairment 14,202 4,129 14,757 12,603 32,258 1,645 79,594 PCI loans - - - - 224 - 224 Total allowance for credit losses $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 December 31, 2015 Individually evaluated for impairment $ 2 $ 52 $ 93 $ 262 $ 7,082 $ 44 $ 7,535 Collectively evaluated for impairment 14,880 3,793 14,798 12,734 25,491 1,317 73,013 PCI loans - - - - 836 - 836 Total allowance for credit losses $ 14,882 $ 3,845 $ 14,891 $ 12,996 $ 33,409 $ 1,361 $ 81,384 June 30, 2015 Individually evaluated for impairment $ 185 $ 11 $ 243 $ 743 $ 2,004 $ 87 $ 3,273 Collectively evaluated for impairment 16,724 3,760 16,350 12,259 27,038 1,405 77,536 PCI loans - - - - 163 - 163 Total allowance for credit losses $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 The following table details the recorded investment in loans as of June 30, 2016, December 31, 2015 and June 30, 2015, excluding $31.8 million, $23.9 million and $10.5 million, respectively, of residential mortgage loans held for sale, related to each balance in the allowance for credit losses by category of loan. Construction, Land Development and Other Land Loans Agriculture and Agriculture Real Estate (includes Farmland) 1-4 Family (includes Home Equity) Commercial Real Estate (includes Multi-Family Residential) Commercial and Industrial Consumer and Other Total (Dollars in thousands) Recorded investment in loans: June 30, 2016 Individually evaluated for impairment $ 15 $ 869 $ 3,127 $ 8,964 $ 14,930 $ 224 $ 28,129 Collectively evaluated for impairment 1,165,746 656,372 2,666,808 3,202,008 1,604,512 259,510 9,554,956 PCI loans 1,525 392 6,314 18,584 8,277 - 35,092 Total loans evaluated for impairment $ 1,167,286 $ 657,633 $ 2,676,249 $ 3,229,556 $ 1,627,719 $ 259,734 $ 9,618,177 December 31, 2015 Individually evaluated for impairment $ 40 $ 209 $ 1,585 $ 15,377 $ 15,948 $ 239 $ 33,398 Collectively evaluated for impairment 1,072,238 648,214 2,609,878 3,098,076 1,660,686 252,340 9,341,432 PCI loans 920 395 5,269 17,630 15,612 - 39,826 Total loans evaluated for impairment $ 1,073,198 $ 648,818 $ 2,616,732 $ 3,131,083 $ 1,692,246 $ 252,579 $ 9,414,656 June 30, 2015 Individually evaluated for impairment $ 429 $ 556 $ 2,951 $ 7,407 $ 13,569 $ 267 $ 25,179 Collectively evaluated for impairment 1,066,061 599,689 2,543,494 2,930,343 1,622,904 269,859 9,032,350 PCI loans 1,566 500 5,725 20,489 18,044 - 46,324 Total loans evaluated for impairment $ 1,068,056 $ 600,745 $ 2,552,170 $ 2,958,239 $ 1,654,517 $ 270,126 $ 9,103,853 Troubled Debt Restructurings. Receivables —Troubled Debt Restructurings by Creditors,” Six Months Ended June 30, 2016 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Loans Investment Investment Loans Investment Investment (Dollars in thousands) Troubled Debt Restructurings Construction, land development and other land loans - $ - $ - - $ - $ - Agriculture and agriculture real estate (includes farmland) 1 154 153 - - - 1-4 Family (includes home equity) - - - - - - Commercial real estate (includes multi-family residential) - - - - - - Commercial and industrial - - - - - - Consumer and other - - - 1 10 9 Total 1 $ 154 $ 153 1 $ 10 $ 9 As of June 30, 2016, there have been no defaults on any loans that were modified as troubled debt restructurings during the preceding twelve months. Default is determined at 90 or more days past due. For the six months ended June 30, 2016, the Company added one loan totaling $154 thousand as a new troubled debt restructuring, of which $153 thousand was still outstanding at June 30, 2016. For the six months ended June 30, 2015, the Company added one loan totaling $10 thousand as a new troubled debt restructuring, of which $9 thousand was still outstanding at June 30, 2015. The modifications generally related to extending the amortization periods of the loans, which includes loans modified during bankruptcy. The Company did not grant principal reductions on any restructured loans. These modifications did not have a material impact on the Company’s determination of the allowance for credit losses. |
Note 6 - Fair Value
Note 6 - Fair Value | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. FAIR VALUE The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Fair values represent the estimated price that would be received from selling an asset or paid to transfer a liability, otherwise known as an “exit price.” Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record other assets at fair value on a nonrecurring basis such as certain loans including residential mortgage loans held for sale, goodwill and other intangible assets and other real estate owned. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write downs of individual assets. ASC Topic 820 “ Fair Value Measurements and Disclosures Fair Value Hierarchy The Company groups financial assets and financial liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Other significant observable inputs (including quoted prices in active markets for similar assets or liabilities) or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. The fair value disclosures below represent the Company’s estimates based on relevant market information and information about the financial instruments. Fair value estimates are based on judgments regarding current economic conditions, risk characteristics of the various instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in the above methodologies and assumptions could significantly affect the estimates. The following tables present fair values for assets and liabilities measured at fair value on a recurring basis: As of June 30, 2016 Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Available for sale securities: States and political subdivisions $ - $ 2,580 $ - $ 2,580 Collateralized mortgage obligations - 23,048 - 23,048 Mortgage-backed securities - 100,779 - 100,779 Other securities 12,795 - - 12,795 Total $ 12,795 $ 126,407 $ - $ 139,202 As of December 31, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Available for sale securities: States and political subdivisions $ - $ 5,485 $ - $ 5,485 Collateralized mortgage obligations - 25,916 - 25,916 Mortgage-backed securities - 58,971 - 58,971 Other securities 12,692 - - 12,692 Total $ 12,692 $ 90,372 $ - $ 103,064 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These instruments include other real estate owned, repossessed assets, held to maturity debt securities, loans held for sale, and impaired loans, which are included as loans held for investment. For the three and six months ended June 30, 2016, the Company had additions to other real estate owned of $864 thousand and $13.9 million, respectively, of which $864 thousand and $13.8 million were still outstanding as of June 30, 2016. For the three and six months ended June 30, 2016, the Company had additions to impaired loans of $7.4 million and $23.9 million, respectively, of which $10.9 million and $18.8 million were still outstanding as of June 30, 2016. The remaining financial assets and liabilities measured at fair value on a non-recurring basis that were recorded in 2016 and remained outstanding at June 30, 2016 were not significant. The following table presents carrying and fair value information of financial instruments as of the dates indicated: As of June 30, 2016 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Assets (Dollars in thousands) Cash and due from banks $ 333,208 $ 333,208 $ - $ - $ 333,208 Federal funds sold 484 484 - - 484 Held to maturity securities 9,135,449 - 9,279,813 - 9,279,813 Loans held for sale 31,831 - 31,831 - 31,831 Loans held for investment, net of allowance 9,534,351 - - 9,581,909 9,581,909 Other real estate owned 15,677 - 15,677 - 15,677 Liabilities Deposits: Noninterest-bearing $ 5,016,637 $ - $ 5,016,637 $ - $ 5,016,637 Interest-bearing 12,202,508 - 12,207,366 - 12,207,366 Other borrowings 606,049 - 606,665 - 606,665 Securities sold under repurchase agreements 320,001 - 320,007 - 320,007 As of December 31, 2015 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Assets (Dollars in thousands) Cash and due from banks $ 562,544 $ 562,544 $ - $ - $ 562,544 Federal funds sold 1,418 1,418 - - 1,418 Held to maturity securities 9,399,363 - 9,393,175 - 9,393,175 Loans held for sale 23,933 - 23,933 - 23,933 Loans held for investment, net of allowance 9,333,272 - - 9,365,758 9,365,758 Other real estate owned 2,963 - 2,963 - 2,963 Liabilities Deposits: Noninterest-bearing $ 5,136,579 $ - $ 5,136,579 $ - $ 5,136,579 Interest-bearing 12,544,540 - 12,548,050 - 12,548,050 Other borrowings 491,399 - 492,061 - 492,061 Securities sold under repurchase agreements 315,253 - 315,241 - 315,241 The following is a description of the fair value estimates, methods and assumptions that are used by the Company in estimating the fair values of financial instruments. Cash and due from banks Federal funds sold Securities Fair value measurements based upon quoted prices are considered Level 1 inputs. Level 1 securities consist of U.S. Treasury securities and certain equity securities which are included in the available for sale portfolio. For all other available for sale and held to maturity securities, if quoted prices are not available, fair values are measured using Level 2 inputs. For these securities, the Company generally obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness. Securities available for sale are recorded at fair value on a recurring basis. Loans held for sale Loans held for investment The Company does not record loans at fair value on a recurring basis. As such, valuation techniques discussed herein for loans are primarily for estimating fair value disclosures. However, from time to time, the Company records nonrecurring fair value adjustments to impaired loans to reflect (1) partial write downs that are based on the observable market price or current appraised value of the collateral, or (2) the full charge off of the loan carrying value. Where appraisals are not available, estimated cash flows are discounted using a rate commensurate with the credit risk associated with those cash flows. Assumptions regarding credit risk, cash flows and discount rates are judgmentally determined using available market information and specific borrower information. The estimated fair value approximates carrying value for variable-rate loans that reprice frequently and with no significant change in credit risk. The fair value of fixed-rate loans and variable-rate loans which reprice on an infrequent basis is estimated by discounting future cash flows using the current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality. An overall valuation adjustment is made for specific credit risks as well as general portfolio credit risk. The Company classifies the estimated fair value of loans held for investment as Level 3. Other real estate owned Deposits Other borrowings Securities sold under repurchase agreements Off-balance sheet financial instruments The fair value estimates presented herein are based on pertinent information available to management at June 30, 2016. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since those dates and, therefore, current estimates of fair value may differ significantly from the amounts presented herein. |
Note 7 - Goodwill and Core Depo
Note 7 - Goodwill and Core Deposit Intangibles | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7 . GOODWILL AND CORE DEPOSIT INTANGIBLES Changes in the carrying amount of the Company’s goodwill and core deposit intangibles for the six months ended June 30, 2016 and the year ended December 31, 2015 were as follows: Core Deposit Goodwill Intangibles (Dollars in thousands) Balance as of December 31, 2014 $ 1,874,191 $ 58,947 Less: Amortization - (9,530 ) Add: Measurement period adjustments (5,364 ) - Balance as of December 31, 2015 1,868,827 49,417 Less: Amortization - (4,556 ) Add: Acquisition of Tradition Bancshares, Inc. 34,624 - Measurement period adjustments - - Balance as of June 30, 2016 $ 1,903,451 $ 44,861 Goodwill is recorded on the acquisition date of each entity. The Company may record subsequent adjustments to goodwill for amounts undeterminable at acquisition date, such as deferred taxes and real estate valuations, and therefore the goodwill amounts may change accordingly. The Company initially records the total premium paid on acquisitions as goodwill. After finalizing the valuation, core deposit intangibles are identified and reclassified from goodwill to core deposit intangibles on the balance sheet. This reclassification has no effect on total assets, liabilities, shareholders’ equity, net income or cash flows. Management performs an evaluation annually, and more frequently if a triggering event occurs, of whether any impairment of the goodwill and core deposit intangibles has occurred. If any such impairment is determined, a write-down is recorded. As of June 30, 2016, there was no impairment recorded on goodwill and core deposit intangibles. The measurement period for the Company to determine the fair value of acquired identifiable assets and assumed liabilities will be at the end of the earlier of (1) twelve months from the date of acquisition or (2) as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the date of acquisition. Core deposit intangibles are being amortized on a non-pro rata basis over their estimated lives, which the Company believes is between 10 and 15 years. Amortization expense related to intangible assets totaled $2.3 million and $2.4 million for the three months ended June 30, 2016 and 2015, respectively, and $4.6 million and $4.9 million for the six months ended June 30, 2016 and 2015, respectively. The estimated aggregate future amortization expense for core deposit intangibles remaining as of June 30, 2016 is as follows (dollars in thousands): Remaining 2016 $ 3,963 2017 6,327 2018 5,400 2019 4,546 2020 4,026 Thereafter 20,599 Total $ 44,861 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8. STOCK–BASED COMPENSATION At June 30, 2016, the Company had two stock-based employee compensation plans with awards outstanding. One of these plans adopted by the Company has expired and therefore no additional awards may be issued under that plan. During 2004, Bancshares’ Board of Directors established the Prosperity Bancshares, Inc. 2004 Stock Incentive Plan (the “2004 Plan”) which was approved by Bancshares’ shareholders and authorized the issuance of up to 1,250,000 shares of common stock upon the exercise of options granted under the 2004 Plan or upon the grant or exercise, as the case may be, of other awards granted under the 2004 Plan. The 2004 Plan provided for the granting of incentive and nonqualified stock options to employees and nonqualified stock options to directors who are not employees. The 2004 Plan also provided for the granting of shares of restricted stock, stock appreciation rights, phantom stock awards and performance awards on substantially similar terms. The 2004 Plan has expired and therefore no additional shares may be issued from the 2004 Plan. During 2012, Bancshares’ Board of Directors established the Prosperity Bancshares, Inc. 2012 Stock Incentive Plan (the “2012 Plan”), which was approved by Bancshares’ shareholders and authorized the issuance of up to 1,250,000 shares of common stock upon the exercise of options granted under the 2012 Plan or pursuant to the grant or exercise, as the case may be, of other awards granted under the 2012 Plan, including restricted stock, stock appreciation rights, phantom stock awards and performance awards. A total of 327,551 shares have been granted under the 2012 Plan as of June 30, 2016. The Company received $198 thousand from the exercise of stock options during the three- and six-month periods ended June 30, 2016 and $67 thousand during the three- and six-month periods ended June 30, 2015. There was no tax benefit realized from option exercises of the stock-based payment arrangements during the three- and six-month periods ended June 30, 2016 and 2015. As of June 30, 2016, there was $19.9 million of total unrecognized compensation expense related to stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 1.60 years. |
Note 9 - Contractual Obligation
Note 9 - Contractual Obligations and Off-balance Sheet Items | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. CONTRACTUAL OBLIGATIONS AND OFF-BALANCE SHEET ITEMS Contractual Obligations The following table summarizes the Company’s contractual obligations and other commitments to make future payments as of June 30, 2016 (other than deposit obligations and securities sold under repurchase agreements). The Company’s future cash payments associated with its contractual obligations pursuant to its FHLB notes payable and operating leases as of June 30, 2016 are summarized below. Payments for FHLB notes payable include interest of $860 thousand that will be paid over the future periods. Payments related to leases are based on actual payments specified in underlying contracts. 1 year or less More than 1 3 years or 5 years Total (Dollars in thousands) Federal Home Loan Bank notes payable $ 600,886 $ 5,045 $ 733 $ 245 $ 606,909 Operating leases 6,079 8,360 5,297 7,229 26,965 Total $ 606,965 $ 13,405 $ 6,030 $ 7,474 $ 633,874 Off-Balance Sheet Items In the normal course of business, the Company enters into various transactions, which, in accordance with GAAP, are not included in its consolidated balance sheets. The Company enters into these transactions to meet the financing needs of its customers. These transactions include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The Company’s commitments associated with outstanding standby letters of credit and commitments to extend credit expiring by periods as of June 30, 2016 are summarized below. Since commitments associated with letters of credit and commitments to extend credit may expire unused, the amounts shown do not necessarily reflect the actual future cash funding requirements. 1 year or less More than 1 3 years or 5 years Total (Dollars in thousands) Standby letters of credit $ 73,833 $ 7,879 $ 841 $ - $ 82,553 Commitments to extend credit 1,068,069 376,170 55,372 534,895 2,034,506 Total $ 1,141,902 $ 384,049 $ 56,213 $ 534,895 $ 2,117,059 |
Note 10 - Other Comprehensive (
Note 10 - Other Comprehensive (Loss) Income | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 10. OTHER COMPREHENSIVE (LOSS) INCOME The tax effects allocated to each component of other comprehensive loss were as follows: Three Months Ended June 30, 2016 2015 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount (Dollars in thousands) Other comprehensive loss: Securities available for sale: Change in unrealized gain during period $ (790 ) $ 277 $ (513 ) $ (640 ) $ 224 $ (416 ) Total securities available for sale (790 ) 277 (513 ) (640 ) 224 (416 ) Total other comprehensive loss $ (790 ) $ 277 $ (513 ) $ (640 ) $ 224 $ (416 ) Six Months Ended June 30, 2016 2015 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount (Dollars in thousands) Other comprehensive loss: Securities available for sale: Change in unrealized gain during period $ (642 ) $ 225 $ (417 ) $ (1,082 ) $ 379 $ (703 ) Total securities available for sale (642 ) 225 (417 ) (1,082 ) 379 (703 ) Total other comprehensive loss $ (642 ) $ 225 $ (417 ) $ (1,082 ) $ 379 $ (703 ) Activity in accumulated other comprehensive income associated with securities available for sale, net of tax, was as follows: Securities Available for Sale Accumulated Other Comprehensive Income (Dollars in thousands) Balance at January 1, 2016 $ 2,040 $ 2,040 Other comprehensive loss (417 ) (417 ) Balance at June 30, 2016 $ 1,623 $ 1,623 Balance at January 1, 2015 $ 3,729 $ 3,729 Other comprehensive loss (703 ) (703 ) Balance at June 30, 2015 $ 3,026 $ 3,026 |
Note 11 - Acquisitions
Note 11 - Acquisitions | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 11. ACQUISITIONS Acquisition of Tradition Bancshares, Inc. — Under the terms of the definitive agreement, Bancshares issued 679,528 shares of its common stock plus $39.0 million in cash for all outstanding shares of Tradition capital stock, for total merger consideration of $71.5 million, based on Bancshares’ closing stock price of $47.86 on December 31, 2015. As of June 30, 2016, total goodwill related to the Tradition acquisition was $34.6 million, which does not include subsequent fair value adjustments that are still being finalized. Goodwill is calculated as the excess of both the consideration exchanged and liabilities assumed as compared to the fair value of identifiable assets acquired, none of which is expected to be deductible for tax purposes. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates (“ASU”) ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments.” ASU 2016-12, “Revenue from Contracts with Customers (Topic 606)—Narrow-Scope Improvements and Practical Expedients.” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ” ASU 2016-10, “Revenue from Contracts with Customers (Topic 606)—Identifying Performance Obligations and Licensing.” “Revenue from Contracts with Customers (Topic 606)” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606 ) ASU 2016-09, “Compensation - Stock Compensation (Topic 718) — Improvements to Employee Share-Based Payment Accounting.” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606)—Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” ASU 2014-09, “ Revenue from Contracts with Customers (Topic 606) ASU 2016-02 , "Leases (Topic 842) . " ASU 2016-01, “Financial Instruments—Overall (Subtopic 825-10) — Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2015-16, “Business Combinations (Topic 805) — Simplifying the Accounting for Measurement-Period Adjustments.” ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) — Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU 2014-1 2, “ Compensation - Stock Compensation (Topic 718) — Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU 2014-09 , “Revenue from Contract s with Customers (Topic 606).” ASU 2015-14, “Revenue from Contracts with Customers (Topic 606)—Deferral of the Effective Date” |
Note 2 - Income Per Common Sh21
Note 2 - Income Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Per Share Per Share Per Share Per Share Amount Amount Amount Amount Amount Amount Amount Amount (Amounts in thousands, except per share data) Net income $ 68,071 $ 71,932 $ 137,022 $ 145,573 Basic: Weighted average shares outstanding 69,565 $ 0.98 70,037 $ 1.03 69,869 $ 1.96 70,035 $ 2.08 Diluted: Add incremental shares for: Effect of dilutive securities - options 9 16 8 19 Total 69,574 $ 0.98 70,053 $ 1.03 69,877 $ 1.96 70,054 $ 2.08 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Marketable Securities [Table Text Block] | June 30, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Available for Sale States and political subdivisions $ 2,574 $ 6 $ - $ 2,580 Collateralized mortgage obligations 22,960 92 (4 ) 23,048 Mortgage-backed securities 98,583 2,759 (563 ) 100,779 Other securities 12,588 253 (46 ) 12,795 Total $ 136,705 $ 3,110 $ (613 ) $ 139,202 Held to Maturity U.S. Treasury securities and obligations of U.S. Government agencies $ 33,437 $ 1,167 $ - $ 34,604 States and political subdivisions 417,532 8,700 (78 ) 426,154 Collateralized mortgage obligations 967 21 (1 ) 987 Mortgage-backed securities 8,683,413 140,777 (6,221 ) 8,817,969 Other securities 100 - (1 ) 99 Total $ 9,135,449 $ 150,665 $ (6,301 ) $ 9,279,813 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) Available for Sale States and political subdivisions $ 5,463 $ 22 $ - $ 5,485 Collateralized mortgage obligations 25,991 25 (100 ) 25,916 Mortgage-backed securities 55,884 3,098 (11 ) 58,971 Other securities 12,588 150 (46 ) 12,692 Total $ 99,926 $ 3,295 $ (157 ) $ 103,064 Held to Maturity U.S. Treasury securities and obligations of U.S. Government agencies $ 47,598 $ 798 $ - $ 48,396 States and political subdivisions 363,505 7,080 (542 ) 370,043 Collateralized mortgage obligations 2,107 17 (2 ) 2,122 Mortgage-backed securities 8,986,153 68,868 (82,407 ) 8,972,614 Other securities - - - - Total $ 9,399,363 $ 76,763 $ (82,951 ) $ 9,393,175 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2016 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for Sale Collateralized mortgage obligations $ 1,900 $ (2 ) $ 155 $ (2 ) $ 2,055 $ (4 ) Mortgage-backed securities 51,975 (554 ) 2,228 (9 ) 54,203 (563 ) Other securities - - 1,691 (46 ) 1,691 (46 ) Total $ 53,875 $ (556 ) $ 4,074 $ (57 ) $ 57,949 $ (613 ) Held to Maturity States and political subdivisions $ 20,904 $ (21 ) $ 10,621 $ (57 ) $ 31,525 $ (78 ) Collateralized mortgage obligations - - 61 (1 ) 61 (1 ) Mortgage-backed securities 67,160 (741 ) 1,189,259 (5,480 ) 1,256,419 (6,221 ) Other securities 99 (1 ) - - 99 (1 ) Total $ 88,163 $ (763 ) $ 1,199,941 $ (5,538 ) $ 1,288,104 $ (6,301 ) December 31, 2015 Less than 12 Months More than 12 Months Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Available for Sale Collateralized mortgage obligations $ 14,331 $ (100 ) $ 1 $ - $ 14,332 $ (100 ) Mortgage-backed securities 793 (1 ) 2,465 (10 ) 3,258 (11 ) Other securities - - 1,691 (46 ) 1,691 (46 ) Total $ 15,124 $ (101 ) $ 4,157 $ (56 ) $ 19,281 $ (157 ) Held to Maturity States and political subdivisions $ 15,700 $ (82 ) $ 45,952 $ (460 ) $ 61,652 $ (542 ) Collateralized mortgage obligations 156 - 94 (2 ) 250 (2 ) Mortgage-backed securities 3,233,601 (36,016 ) 1,662,482 (46,391 ) 4,896,083 (82,407 ) Other securities - - - - - - Total $ 3,249,457 $ (36,098 ) $ 1,708,528 $ (46,853 ) $ 4,957,985 $ (82,951 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Held to Maturity Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 34,340 $ 34,454 $ 12,689 $ 12,895 Due after one year through five years 193,718 196,821 2,473 2,480 Due after five years through ten years 191,834 197,630 - - Due after ten years 31,177 31,952 - - Subtotal 451,069 460,857 15,162 15,375 Mortgage-backed securities and collateralized mortgage obligations 8,684,380 8,818,956 121,543 123,827 Total $ 9,135,449 $ 9,279,813 $ 136,705 $ 139,202 |
Note 5 - Loans and Allowance 23
Note 5 - Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2016 2015 (Dollars in thousands) Residential mortgage loans held for sale $ 31,831 $ 23,933 Commercial and industrial 1,627,719 1,692,246 Real estate: Construction, land development and other land loans 1,167,286 1,073,198 1-4 family residential (includes home equity) 2,676,249 2,616,732 Commercial real estate (includes multi-family residential) 3,229,556 3,131,083 Farmland 459,303 434,349 Agriculture 198,330 214,469 Consumer and other 259,734 252,579 Total loans held for investment 9,618,177 9,414,656 Total $ 9,650,008 $ 9,438,589 |
Schedule of Related Party Loans [Table Text Block] | June 30, December 31, 2016 2015 (Dollars in thousands) Beginning balance on January 1 $ 4,063 $ 4,940 New loans 160 428 Repayments and reclassified related loans (64 ) (1,305 ) Ending balance $ 4,159 $ 4,063 |
Past Due Financing Receivables [Table Text Block] | June 30, 2016 Loans Past Due and Still Accruing 90 or More Total Past Nonaccrual Current Total 30-89 Days Days Due Loans Loans Loans Loans (Dollars in thousands) Construction, land development and other land loans $ 7,235 $ 286 $ 7,521 $ 109 $ 1,159,656 $ 1,167,286 Agriculture and agriculture real estate (includes farmland) 564 814 1,378 869 655,386 657,633 1-4 family (includes home equity) (1) 2,068 - 2,068 4,305 2,701,707 2,708,080 Commercial real estate (includes multi-family residential) 5,884 3,990 9,874 9,086 3,210,596 3,229,556 Commercial and industrial 16,938 1,683 18,621 14,953 1,594,145 1,627,719 Consumer and other 643 49 692 225 258,817 259,734 Total $ 33,332 $ 6,822 $ 40,154 $ 29,547 $ 9,580,307 $ 9,650,008 December 31, 2015 Loans Past Due and Still Accruing 90 or More Total Past Nonaccrual Current Total 30-89 Days Days Due Loans Loans Loans Loans (Dollars in thousands) Construction, land development and other land loans $ 4,097 $ - $ 4,097 $ 134 $ 1,068,967 $ 1,073,198 Agriculture and agriculture real estate (includes farmland) 946 - 946 208 647,664 648,818 1-4 family (includes home equity) (1) 4,748 220 4,968 1,894 2,633,803 2,640,665 Commercial real estate (includes multi-family residential) 12,922 - 12,922 15,535 3,102,626 3,131,083 Commercial and industrial 4,793 394 5,187 21,692 1,665,367 1,692,246 Consumer and other 1,274 - 1,274 248 251,057 252,579 Total $ 28,780 $ 614 $ 29,394 $ 39,711 $ 9,369,484 $ 9,438,589 |
Schedule of Non-performing Assets Table Text Block] | June 30, December 31, 2016 2015 (Dollars in thousands) Nonaccrual loans (1) $ 29,547 $ 39,711 Accruing loans 90 or more days past due 6,822 614 Total nonperforming loans 36,369 40,325 Repossessed assets 84 171 Other real estate 15,677 2,963 Total nonperforming assets $ 52,130 $ 43,459 Nonperforming assets to total loans and other real estate 0.54 % 0.46 % |
Carrying Value and Outstanding Balance for Purchased Credit Impaired Loans [Table Text Block] | June 30, December 31, 2016 2015 (Dollars in thousands) PCI loans: Outstanding balance $ 65,571 $ 79,802 Less: discount 30,479 39,976 Recorded investment $ 35,092 $ 39,826 |
Summary of Changes in Accretable Yields of Acquired Loans [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Dollars in thousands) Balance at beginning of period $ 13,175 $ 7,870 $ 5,664 $ 9,867 Additions - - 10,222 - Reclassifications from nonaccretable 2,311 1,695 7,431 8,632 Accretion (3,471 ) (3,214 ) (11,302 ) (12,148 ) Balance at June 30 $ 12,015 $ 6,351 $ 12,015 $ 6,351 |
Carrying Value and Outstanding Balance for Non Purchased Credit Impaired Loans [Table Text Block] | June 30, December 31, 2016 2015 (Dollars in thousands) Non-PCI loans: Outstanding balance $ 1,382,690 $ 1,430,501 Less: discount 44,672 54,734 Recorded investment $ 1,338,018 $ 1,375,767 |
Summary of Changes in Accretable Yields of Acquired Non PCI Loans [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Dollars in thousands) Balance at beginning of period $ 50,509 $ 78,289 $ 54,734 $ 89,105 Additions - - 3,491 - Accretion charge-offs (4 ) (6 ) (1,057 ) (109 ) Accretion (5,833 ) (10,388 ) (12,496 ) (21,101 ) Balance at June 30 $ 44,672 $ 67,895 $ 44,672 $ 67,895 |
Impaired Financing Receivables [Table Text Block] | June 30, 2016 Unpaid Contractual Average Recorded Principal Related Recorded Investment Balance Allowance Investment (Dollars in thousands) With no related allowance recorded: Construction, land development and other land loans $ 15 $ 335 $ - $ 24 Agriculture and agriculture real estate (includes farmland) 869 893 - 445 1-4 family (includes home equity) 2,714 2,908 - 1,960 Commercial real estate (includes multi-family residential) 8,895 8,950 - 12,005 Commercial and industrial 4,739 5,023 - 3,047 Consumer and other 177 274 - 117 Total 17,409 18,383 - 17,598 With an allowance recorded: Construction, land development and other land loans - - - 4 Agriculture and agriculture real estate (includes farmland) - - - 95 1-4 family (includes home equity) 413 431 159 396 Commercial real estate (includes multi-family residential) 69 69 69 166 Commercial and industrial 10,191 11,537 3,772 12,393 Consumer and other 47 70 8 114 Total 10,720 12,107 4,008 13,168 Total: Construction, land development and other land loans 15 335 - 28 Agriculture and agriculture real estate (includes farmland) 869 893 - 540 1-4 family (includes home equity) 3,127 3,339 159 2,356 Commercial real estate (includes multi-family residential) 8,964 9,019 69 12,171 Commercial and industrial 14,930 16,560 3,772 15,440 Consumer and other 224 344 8 231 $ 28,129 $ 30,490 $ 4,008 $ 30,766 December 31, 2015 Unpaid Contractual Average Recorded Principal Related Recorded Investment Balance Allowance Investment (Dollars in thousands) With no related allowance recorded: Construction, land development and other land loans $ 33 $ 346 $ - $ 142 Agriculture and agriculture real estate (includes farmland) 20 23 - 10 1-4 family (includes home equity) 1,206 1,365 - 1,458 Commercial real estate (includes multi-family residential) 15,115 15,398 - 10,104 Commercial and industrial 1,354 1,630 - 5,419 Consumer and other 58 131 - 4,101 Total 17,786 18,893 - 21,234 With an allowance recorded: Construction, land development and other land loans 7 11 2 141 Agriculture and agriculture real estate (includes farmland) 189 201 52 118 1-4 family (includes home equity) 379 386 93 902 Commercial real estate (includes multi-family residential) 262 1,857 262 162 Commercial and industrial 14,594 16,413 7,082 8,524 Consumer and other 181 220 44 208 Total 15,612 19,088 7,535 10,055 Total: Construction, land development and other land loans 40 357 2 283 Agriculture and agriculture real estate (includes farmland) 209 224 52 128 1-4 family (includes home equity) 1,585 1,751 93 2,360 Commercial real estate (includes multi-family residential) 15,377 17,255 262 10,266 Commercial and industrial 15,948 18,043 7,082 13,943 Consumer and other 239 351 44 4,309 $ 33,398 $ 37,981 $ 7,535 $ 31,289 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Construction, Agriculture and 1-4 Family Equity) (1) Commercial Residential) Commercial Industrial Consumer and Total (Dollars in thousands) Grade 1 $ - $ 13,036 $ - $ - $ 62,859 $ 41,423 $ 117,318 Grade 2 3,452 5,336 25,453 7,747 24,086 21,337 87,411 Grade 3 1,099,780 561,018 2,601,977 2,932,431 1,203,148 181,231 8,579,585 Grade 4 55,736 69,081 60,544 213,560 180,722 12,781 592,424 Grade 5 3,225 6,690 3,015 24,182 51,644 2 88,758 Grade 6 3,553 1,211 7,651 24,088 82,476 2,735 121,714 Grade 7 15 869 3,069 8,895 13,151 225 26,224 Grade 8 - - 57 69 1,356 - 1,482 Grade 9 - - - - - - - PCI Loans (2) 1,525 392 6,314 18,584 8,277 - 35,092 Total $ 1,167,286 $ 657,633 $ 2,708,080 $ 3,229,556 $ 1,627,719 $ 259,734 $ 9,650,008 Construction, Agriculture and 1-4 Family Commercial Commercial Consumer and Total (Dollars in thousands) Grade 1 $ - $ 12,733 $ - $ - $ 57,625 $ 44,389 $ 114,747 Grade 2 3,975 5,603 27,272 24,965 27,755 34,668 124,238 Grade 3 1,034,792 553,782 2,539,282 2,861,872 1,355,887 162,892 8,508,507 Grade 4 29,831 67,453 58,172 164,924 123,772 3,395 447,547 Grade 5 2,431 7,191 1,261 20,078 68,618 6,908 106,487 Grade 6 1,209 1,452 7,824 26,237 28,005 88 64,815 Grade 7 40 209 1,526 15,377 12,487 239 29,878 Grade 8 - - 59 - 2,485 - 2,544 Grade 9 - - - - - - - PCI Loans (2) 920 395 5,269 17,630 15,612 - 39,826 Total $ 1,073,198 $ 648,818 $ 2,640,665 $ 3,131,083 $ 1,692,246 $ 252,579 $ 9,438,589 |
Schedule of Investment in Loans and Activity in Allowance for Credit Losses By Portfolio Segment [Table Text Block] | Construction, and Other Land Loans Agriculture Real Estate (includes 1-4 Family Commercial Multi-Family Commercial Consumer Total (Dollars in thousands) Allowance for credit losses: Three Months Ended Balance March 31, 2016 $ 14,365 $ 3,572 $ 14,564 $ 12,391 $ 37,163 $ 1,659 $ 83,714 Provision for credit losses (188 ) (98 ) 274 478 3,200 2,334 6,000 Charge-offs - - (2 ) (198 ) (4,340 ) (2,577 ) (7,117 ) Recoveries 25 655 80 1 231 237 1,229 Net charge-offs 25 655 78 (197 ) (4,109 ) (2,340 ) (5,888 ) Balance June 30, 2016 $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 Six Months Ended Balance December 31, 2015 $ 14,882 $ 3,845 $ 14,891 $ 12,996 $ 33,409 $ 1,361 $ 81,384 Provision for credit losses (891 ) 6,591 (23 ) (68 ) 11,350 3,041 20,000 Charge-offs (7 ) (7,025 ) (51 ) (257 ) (10,617 ) (3,425 ) (21,382 ) Recoveries 218 718 99 1 2,112 676 3,824 Net charge-offs 211 (6,307 ) 48 (256 ) (8,505 ) (2,749 ) (17,558 ) Balance June 30, 2016 $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 Allowance for credit losses: Three Months Ended Balance Mar 31, 2015 $ 16,858 $ 3,277 $ 16,778 $ 12,538 $ 30,084 $ 1,428 $ 80,963 Provision for credit losses 49 429 (173 ) 578 (907 ) 524 500 Charge-offs - - (31 ) (136 ) (98 ) (744 ) (1,009 ) Recoveries 2 65 19 22 126 284 518 Net charge-offs 2 65 (12 ) (114 ) 28 (460 ) (491 ) Balance June 30, 2015 $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 Six Months Ended Balance December 31, 2014 $ 15,825 $ 3,722 $ 16,377 $ 12,744 $ 30,002 $ 2,092 $ 80,762 Provision for credit losses 1,227 (94 ) 314 405 (321 ) 219 1,750 Charge-offs (151 ) - (129 ) (179 ) (826 ) (1,473 ) (2,758 ) Recoveries 8 143 31 32 350 654 1,218 Net charge-offs (143 ) 143 (98 ) (147 ) (476 ) (819 ) (1,540 ) Balance June 30, 2015 $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 Construction, and Other Land Loans Agriculture Real Estate (includes 1-4 Family ( Commercial Real Estate (includes Multi-Family Residential) Commercial and Industrial Consumer and Other Total (Dollars in thousands) Allowance for credit losses related to: June 30, 2016 Individually evaluated for impairment $ - $ - $ 159 $ 69 $ 3,772 $ 8 $ 4,008 Collectively evaluated for impairment 14,202 4,129 14,757 12,603 32,258 1,645 79,594 PCI loans - - - - 224 - 224 Total allowance for credit losses $ 14,202 $ 4,129 $ 14,916 $ 12,672 $ 36,254 $ 1,653 $ 83,826 December 31, 2015 Individually evaluated for impairment $ 2 $ 52 $ 93 $ 262 $ 7,082 $ 44 $ 7,535 Collectively evaluated for impairment 14,880 3,793 14,798 12,734 25,491 1,317 73,013 PCI loans - - - - 836 - 836 Total allowance for credit losses $ 14,882 $ 3,845 $ 14,891 $ 12,996 $ 33,409 $ 1,361 $ 81,384 June 30, 2015 Individually evaluated for impairment $ 185 $ 11 $ 243 $ 743 $ 2,004 $ 87 $ 3,273 Collectively evaluated for impairment 16,724 3,760 16,350 12,259 27,038 1,405 77,536 PCI loans - - - - 163 - 163 Total allowance for credit losses $ 16,909 $ 3,771 $ 16,593 $ 13,002 $ 29,205 $ 1,492 $ 80,972 Construction, Land Development and Other Land Loans Agriculture and Agriculture Real Estate (includes Farmland) 1-4 Family (includes Home Equity) Commercial Real Estate (includes Multi-Family Residential) Commercial and Industrial Consumer and Other Total (Dollars in thousands) Recorded investment in loans: June 30, 2016 Individually evaluated for impairment $ 15 $ 869 $ 3,127 $ 8,964 $ 14,930 $ 224 $ 28,129 Collectively evaluated for impairment 1,165,746 656,372 2,666,808 3,202,008 1,604,512 259,510 9,554,956 PCI loans 1,525 392 6,314 18,584 8,277 - 35,092 Total loans evaluated for impairment $ 1,167,286 $ 657,633 $ 2,676,249 $ 3,229,556 $ 1,627,719 $ 259,734 $ 9,618,177 December 31, 2015 Individually evaluated for impairment $ 40 $ 209 $ 1,585 $ 15,377 $ 15,948 $ 239 $ 33,398 Collectively evaluated for impairment 1,072,238 648,214 2,609,878 3,098,076 1,660,686 252,340 9,341,432 PCI loans 920 395 5,269 17,630 15,612 - 39,826 Total loans evaluated for impairment $ 1,073,198 $ 648,818 $ 2,616,732 $ 3,131,083 $ 1,692,246 $ 252,579 $ 9,414,656 June 30, 2015 Individually evaluated for impairment $ 429 $ 556 $ 2,951 $ 7,407 $ 13,569 $ 267 $ 25,179 Collectively evaluated for impairment 1,066,061 599,689 2,543,494 2,930,343 1,622,904 269,859 9,032,350 PCI loans 1,566 500 5,725 20,489 18,044 - 46,324 Total loans evaluated for impairment $ 1,068,056 $ 600,745 $ 2,552,170 $ 2,958,239 $ 1,654,517 $ 270,126 $ 9,103,853 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Six Months Ended June 30, 2016 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Loans Investment Investment Loans Investment Investment (Dollars in thousands) Troubled Debt Restructurings Construction, land development and other land loans - $ - $ - - $ - $ - Agriculture and agriculture real estate (includes farmland) 1 154 153 - - - 1-4 Family (includes home equity) - - - - - - Commercial real estate (includes multi-family residential) - - - - - - Commercial and industrial - - - - - - Consumer and other - - - 1 10 9 Total 1 $ 154 $ 153 1 $ 10 $ 9 |
Note 6 - Fair Value (Tables)
Note 6 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of June 30, 2016 Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Available for sale securities: States and political subdivisions $ - $ 2,580 $ - $ 2,580 Collateralized mortgage obligations - 23,048 - 23,048 Mortgage-backed securities - 100,779 - 100,779 Other securities 12,795 - - 12,795 Total $ 12,795 $ 126,407 $ - $ 139,202 As of December 31, 2015 Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Available for sale securities: States and political subdivisions $ - $ 5,485 $ - $ 5,485 Collateralized mortgage obligations - 25,916 - 25,916 Mortgage-backed securities - 58,971 - 58,971 Other securities 12,692 - - 12,692 Total $ 12,692 $ 90,372 $ - $ 103,064 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | As of June 30, 2016 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Assets (Dollars in thousands) Cash and due from banks $ 333,208 $ 333,208 $ - $ - $ 333,208 Federal funds sold 484 484 - - 484 Held to maturity securities 9,135,449 - 9,279,813 - 9,279,813 Loans held for sale 31,831 - 31,831 - 31,831 Loans held for investment, net of allowance 9,534,351 - - 9,581,909 9,581,909 Other real estate owned 15,677 - 15,677 - 15,677 Liabilities Deposits: Noninterest-bearing $ 5,016,637 $ - $ 5,016,637 $ - $ 5,016,637 Interest-bearing 12,202,508 - 12,207,366 - 12,207,366 Other borrowings 606,049 - 606,665 - 606,665 Securities sold under repurchase agreements 320,001 - 320,007 - 320,007 As of December 31, 2015 Carrying Estimated Fair Value Amount Level 1 Level 2 Level 3 Total Assets (Dollars in thousands) Cash and due from banks $ 562,544 $ 562,544 $ - $ - $ 562,544 Federal funds sold 1,418 1,418 - - 1,418 Held to maturity securities 9,399,363 - 9,393,175 - 9,393,175 Loans held for sale 23,933 - 23,933 - 23,933 Loans held for investment, net of allowance 9,333,272 - - 9,365,758 9,365,758 Other real estate owned 2,963 - 2,963 - 2,963 Liabilities Deposits: Noninterest-bearing $ 5,136,579 $ - $ 5,136,579 $ - $ 5,136,579 Interest-bearing 12,544,540 - 12,548,050 - 12,548,050 Other borrowings 491,399 - 492,061 - 492,061 Securities sold under repurchase agreements 315,253 - 315,241 - 315,241 |
Note 7 - Goodwill and Core De25
Note 7 - Goodwill and Core Deposit Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Core Deposit Goodwill Intangibles (Dollars in thousands) Balance as of December 31, 2014 $ 1,874,191 $ 58,947 Less: Amortization - (9,530 ) Add: Measurement period adjustments (5,364 ) - Balance as of December 31, 2015 1,868,827 49,417 Less: Amortization - (4,556 ) Add: Acquisition of Tradition Bancshares, Inc. 34,624 - Measurement period adjustments - - Balance as of June 30, 2016 $ 1,903,451 $ 44,861 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Remaining 2016 $ 3,963 2017 6,327 2018 5,400 2019 4,546 2020 4,026 Thereafter 20,599 Total $ 44,861 |
Note 9 - Contractual Obligati26
Note 9 - Contractual Obligations and Off-balance Sheet Items (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Contractual Obligations and Other Commitments [Table Text Block] | 1 year or less More than 1 3 years or 5 years Total (Dollars in thousands) Federal Home Loan Bank notes payable $ 600,886 $ 5,045 $ 733 $ 245 $ 606,909 Operating leases 6,079 8,360 5,297 7,229 26,965 Total $ 606,965 $ 13,405 $ 6,030 $ 7,474 $ 633,874 |
Schedule of Line of Credit Facilities [Table Text Block] | 1 year or less More than 1 3 years or 5 years Total (Dollars in thousands) Standby letters of credit $ 73,833 $ 7,879 $ 841 $ - $ 82,553 Commitments to extend credit 1,068,069 376,170 55,372 534,895 2,034,506 Total $ 1,141,902 $ 384,049 $ 56,213 $ 534,895 $ 2,117,059 |
Note 10 - Other Comprehensive27
Note 10 - Other Comprehensive (Loss) Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | Three Months Ended June 30, 2016 2015 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount (Dollars in thousands) Other comprehensive loss: Securities available for sale: Change in unrealized gain during period $ (790 ) $ 277 $ (513 ) $ (640 ) $ 224 $ (416 ) Total securities available for sale (790 ) 277 (513 ) (640 ) 224 (416 ) Total other comprehensive loss $ (790 ) $ 277 $ (513 ) $ (640 ) $ 224 $ (416 ) Six Months Ended June 30, 2016 2015 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount (Dollars in thousands) Other comprehensive loss: Securities available for sale: Change in unrealized gain during period $ (642 ) $ 225 $ (417 ) $ (1,082 ) $ 379 $ (703 ) Total securities available for sale (642 ) 225 (417 ) (1,082 ) 379 (703 ) Total other comprehensive loss $ (642 ) $ 225 $ (417 ) $ (1,082 ) $ 379 $ (703 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Securities Available for Sale Accumulated Other Comprehensive Income (Dollars in thousands) Balance at January 1, 2016 $ 2,040 $ 2,040 Other comprehensive loss (417 ) (417 ) Balance at June 30, 2016 $ 1,623 $ 1,623 Balance at January 1, 2015 $ 3,729 $ 3,729 Other comprehensive loss (703 ) (703 ) Balance at June 30, 2015 $ 3,026 $ 3,026 |
Note 2 - Income Per Common Sh28
Note 2 - Income Per Common Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 0 |
Note 2 - Income Per Common Sh29
Note 2 - Income Per Common Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 68,071 | $ 71,932 | $ 137,022 | $ 145,573 |
Weighted average shares outstanding (in shares) | 69,565 | 70,037 | 69,869 | 70,035 |
Weighted average shares outstanding (in dollars per share) | $ 0.98 | $ 1.03 | $ 1.96 | $ 2.08 |
Effect of dilutive securities - options (in shares) | 9 | 16 | 8 | 19 |
Total (in shares) | 69,574 | 70,053 | 69,877 | 70,054 |
Total (in dollars per share) | $ 0.98 | $ 1.03 | $ 1.96 | $ 2.08 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Stockholders' Equity, Total [Member] | Securities Concentration Risk [Member] | |||||
Concentration Risk, Percentage | 10.00% | 10.00% | |||
Collateralized Securities [Member] | |||||
Available-for-sale Securities, Amortized Cost Basis | $ 5,600,000 | $ 5,600,000 | $ 5,810,000 | ||
Available-for-sale Securities | 5,680,000 | 5,680,000 | $ 5,790,000 | ||
Other than Temporary Impairment Losses, Investments | 0 | ||||
Gain (Loss) on Sale of Securities, Net | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of Investment Securities Segments | 2 | ||||
Securities in Unrealized Loss Positions Qualitative Disclosure Number of Positions Greater Than or Equal to One Year | 428 | 428 | 474 | ||
Available-for-sale Securities, Amortized Cost Basis | $ 136,705 | $ 136,705 | $ 99,926 | ||
Available-for-sale Securities | $ 139,202 | $ 139,202 | $ 103,064 |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 2,574 | $ 5,463 |
Available for Sale, Gross Unrealized Gains | 6 | 22 |
Available for Sale, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 2,580 | 5,485 |
Held to Maturity, Amortized Cost | 417,532 | 363,505 |
Held to Maturity, Gross Unrealized Gains | 8,700 | 7,080 |
Held to Maturity, Gross Unrealized Losses | (78) | (542) |
Held to maturity securities | 426,154 | 370,043 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 22,960 | 25,991 |
Available for Sale, Gross Unrealized Gains | 92 | 25 |
Available for Sale, Gross Unrealized Losses | (4) | (100) |
Available-for-sale Securities | 23,048 | 25,916 |
Held to Maturity, Amortized Cost | 967 | 2,107 |
Held to Maturity, Gross Unrealized Gains | 21 | 17 |
Held to Maturity, Gross Unrealized Losses | (1) | (2) |
Held to maturity securities | 987 | 2,122 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 98,583 | 55,884 |
Available for Sale, Gross Unrealized Gains | 2,759 | 3,098 |
Available for Sale, Gross Unrealized Losses | (563) | (11) |
Available-for-sale Securities | 100,779 | 58,971 |
Held to Maturity, Amortized Cost | 8,683,413 | 8,986,153 |
Held to Maturity, Gross Unrealized Gains | 140,777 | 68,868 |
Held to Maturity, Gross Unrealized Losses | (6,221) | (82,407) |
Held to maturity securities | 8,817,969 | 8,972,614 |
Other Securities [Member] | ||
Available-for-sale Securities, Amortized Cost Basis | 12,588 | 12,588 |
Available for Sale, Gross Unrealized Gains | 253 | 150 |
Available for Sale, Gross Unrealized Losses | (46) | (46) |
Available-for-sale Securities | 12,795 | 12,692 |
Held to Maturity, Amortized Cost | 100 | 0 |
Held to Maturity, Gross Unrealized Gains | 0 | 0 |
Held to Maturity, Gross Unrealized Losses | (1) | 0 |
Held to maturity securities | 99 | 0 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Held to Maturity, Amortized Cost | 33,437 | 47,598 |
Held to Maturity, Gross Unrealized Gains | 1,167 | 798 |
Held to Maturity, Gross Unrealized Losses | 0 | 0 |
Held to maturity securities | 34,604 | 48,396 |
Available-for-sale Securities, Amortized Cost Basis | 136,705 | 99,926 |
Available for Sale, Gross Unrealized Gains | 3,110 | 3,295 |
Available for Sale, Gross Unrealized Losses | (613) | (157) |
Available-for-sale Securities | 139,202 | 103,064 |
Held to Maturity, Amortized Cost | 9,135,449 | 9,399,363 |
Held to Maturity, Gross Unrealized Gains | 150,665 | 76,763 |
Held to Maturity, Gross Unrealized Losses | (6,301) | (82,951) |
Held to maturity securities | $ 9,279,813 | $ 9,393,175 |
Note 4 - Securities - Securitie
Note 4 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Collateralized Mortgage Obligations [Member] | ||
Available for Sale, Estimated Fair Value, Less than 12 Months | $ 1,900 | $ 14,331 |
Available for Sale, Unrealized Losses, Less than 12 Months | (2) | (100) |
Available for Sale, Estimated Fair Value, More than 12 Months | 155 | 1 |
Available for Sale, Unrealized Losses, More than 12 Months | (2) | 0 |
Available for Sale, Estimated Fair Value, Total | 2,055 | 14,332 |
Available for Sale, Unrealized Losses, Total | (4) | (100) |
Held to Maturity, Estimated Fair Value, Less than 12 Months | 0 | 156 |
Held to Maturity, Unrealized Losses, Less than 12 Months | 0 | 0 |
Held to Maturity, Estimated Fair Value, More than 12 Months | 61 | 94 |
Held to Maturity, Unrealized Losses, More than 12 Months | (1) | (2) |
Held to Maturity, Estimated Fair Value, Total | 61 | 250 |
Held to Maturity, Unrealized Losses, Total | (1) | (2) |
Collateralized Mortgage Backed Securities [Member] | ||
Available for Sale, Estimated Fair Value, Less than 12 Months | 51,975 | 793 |
Available for Sale, Unrealized Losses, Less than 12 Months | (554) | (1) |
Available for Sale, Estimated Fair Value, More than 12 Months | 2,228 | 2,465 |
Available for Sale, Unrealized Losses, More than 12 Months | (9) | (10) |
Available for Sale, Estimated Fair Value, Total | 54,203 | 3,258 |
Available for Sale, Unrealized Losses, Total | (563) | (11) |
Held to Maturity, Estimated Fair Value, Less than 12 Months | 67,160 | 3,233,601 |
Held to Maturity, Unrealized Losses, Less than 12 Months | (741) | (36,016) |
Held to Maturity, Estimated Fair Value, More than 12 Months | 1,189,259 | 1,662,482 |
Held to Maturity, Unrealized Losses, More than 12 Months | (5,480) | (46,391) |
Held to Maturity, Estimated Fair Value, Total | 1,256,419 | 4,896,083 |
Held to Maturity, Unrealized Losses, Total | (6,221) | (82,407) |
Other Securities [Member] | ||
Available for Sale, Estimated Fair Value, Less than 12 Months | 0 | 0 |
Available for Sale, Unrealized Losses, Less than 12 Months | 0 | 0 |
Available for Sale, Estimated Fair Value, More than 12 Months | 1,691 | 1,691 |
Available for Sale, Unrealized Losses, More than 12 Months | (46) | (46) |
Available for Sale, Estimated Fair Value, Total | 1,691 | 1,691 |
Available for Sale, Unrealized Losses, Total | (46) | (46) |
Held to Maturity, Estimated Fair Value, Less than 12 Months | 99 | 0 |
Held to Maturity, Unrealized Losses, Less than 12 Months | (1) | 0 |
Held to Maturity, Estimated Fair Value, More than 12 Months | 0 | 0 |
Held to Maturity, Unrealized Losses, More than 12 Months | 0 | 0 |
Held to Maturity, Estimated Fair Value, Total | 99 | 0 |
Held to Maturity, Unrealized Losses, Total | (1) | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held to Maturity, Estimated Fair Value, Less than 12 Months | 20,904 | 15,700 |
Held to Maturity, Unrealized Losses, Less than 12 Months | (21) | (82) |
Held to Maturity, Estimated Fair Value, More than 12 Months | 10,621 | 45,952 |
Held to Maturity, Unrealized Losses, More than 12 Months | (57) | (460) |
Held to Maturity, Estimated Fair Value, Total | 31,525 | 61,652 |
Held to Maturity, Unrealized Losses, Total | (78) | (542) |
Available for Sale, Estimated Fair Value, Less than 12 Months | 53,875 | 15,124 |
Available for Sale, Unrealized Losses, Less than 12 Months | (556) | (101) |
Available for Sale, Estimated Fair Value, More than 12 Months | 4,074 | 4,157 |
Available for Sale, Unrealized Losses, More than 12 Months | (57) | (56) |
Available for Sale, Estimated Fair Value, Total | 57,949 | 19,281 |
Available for Sale, Unrealized Losses, Total | (613) | (157) |
Held to Maturity, Estimated Fair Value, Less than 12 Months | 88,163 | 3,249,457 |
Held to Maturity, Unrealized Losses, Less than 12 Months | (763) | (36,098) |
Held to Maturity, Estimated Fair Value, More than 12 Months | 1,199,941 | 1,708,528 |
Held to Maturity, Unrealized Losses, More than 12 Months | (5,538) | (46,853) |
Held to Maturity, Estimated Fair Value, Total | 1,288,104 | 4,957,985 |
Held to Maturity, Unrealized Losses, Total | $ (6,301) | $ (82,951) |
Note 4 - Securities - Investm33
Note 4 - Securities - Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Held to maturity, amortized cost, due in one year or less | $ 34,340 | |
Held to maturity, fair value, due in one year or less | 34,454 | |
Available for sale, amortized cost, due in one year or less | 12,689 | |
Available for sale, fair value, due in one year or less | 12,895 | |
Held to maturity, amortized cost, due after one year through five years | 193,718 | |
Held to maturity, fair value, due after one year through five years | 196,821 | |
Available for sale, amortized cost, due after one year through five years | 2,473 | |
Available for sale, fair value, due after one year through five years | 2,480 | |
Held to maturity, amortized cost, due after five years through ten years | 191,834 | |
Held to maturity, fair value, due after five years through ten years | 197,630 | |
Available for sale, amortized cost, due after five years through ten years | 0 | |
Available for sale, fair value, due after five years through ten years | 0 | |
Held to maturity, amortized cost, due after ten years | 31,177 | |
Held to maturity, fair value, due after ten years | 31,952 | |
Available for sale, amortized cost, due after ten years | 0 | |
Available for sale, fair value, due after ten years | 0 | |
Held to maturity, amortized cost, subtotal | 451,069 | |
Held to maturity, fair value, subtotal | 460,857 | |
Available for sale, amortized cost, subtotal | 15,162 | |
Available for sale, fair value, subtotal | 15,375 | |
Held to maturity, amortized cost, mortgage-backed securities and collateralized mortgage obligations | 8,684,380 | |
Held to maturity, fair value, mortgage-backed securities and collateralized mortgage obligations | 8,818,956 | |
Available for sale, amortized cost, mortgage-backed securities and collateralized mortgage obligations | 121,543 | |
Available for sale, fair value, mortgage-backed securities and collateralized mortgage obligations | 123,827 | |
Held to maturity, amortized cost, total | 9,135,449 | $ 9,399,363 |
Held to maturity, fair value, total | 9,279,813 | 9,393,175 |
Available for sale, amortized cost, total | 136,705 | |
Available for sale securities, at fair value | $ 139,202 | $ 103,064 |
Note 5 - Loans and Allowance 34
Note 5 - Loans and Allowance for Credit Losses (Details Textual) $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | ||
Residential Mortgage Loans [Member] | |||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 31,800 | $ 10,500 | $ 23,900 | ||
With Specific Reserves Allocated [Member] | Substandard [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans Receivable, Fair Value Disclosure | 423 | 976 | |||
Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 404 | 681 | |||
Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | 29,547 | 39,711 | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 52,130 | 43,459 | |||
Substandard [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 1,900 | ||||
Loans Receivable, Fair Value Disclosure | 7,300 | ||||
Substandard [Member] | |||||
Loans Receivable, Fair Value Disclosure | $ 1,900 | 1,900 | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||
Percentage of Loans Related to Single Industry on Loans | 10.00% | ||||
Loans and Leases Receivable, Related Parties | $ 4,159 | 4,063 | $ 4,940 | ||
Minimum Period for Ceases Accruing Interest | 90 days | ||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 31,831 | 23,933 | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 29,547 | $ 39,711 | |||
Financing Receivable Ratio of Non-performing Loans to All Loans and Other Real Estate | 0.54% | 0.46% | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 1,700 | $ 1,600 | |||
Financing Receivable, Allowance for Credit Losses | $ 83,800 | $ 81,400 | |||
Allowance for Credit Losses as Percentage of Loans | 0.87% | 0.86% | |||
Loan to be Considered as Payment Default in Period | 90 days | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 154 | $ 10 | |||
Financing Receivable, Modifications, Recorded Investment | $ 153 | $ 9 | |||
[1] | Includes troubled debt restructurings of $404 thousand and $681 thousand as of June 30, 2016 and December 31, 2015, respectively. |
Note 5 - Loans and Allowance 35
Note 5 - Loans and Allowance for Credit Losses - Types of Loans in Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |||
Residential Portfolio Segment [Member] | ||||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 31,831 | $ 23,933 | ||||
Commercial and Industrial [Member] | ||||||
Total loans held for investment | 1,627,719 | 1,692,246 | $ 1,654,517 | |||
Total | 1,627,719 | 1,692,246 | ||||
Construction, Land Development and Other Land Loans [Member] | ||||||
Total loans held for investment | 1,167,286 | 1,073,198 | 1,068,056 | |||
Total | 1,167,286 | 1,073,198 | ||||
1-4 Family Residential (Includes Home Equity) [Member] | ||||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 31,800 | 31,800 | ||||
Total loans held for investment | 2,676,249 | 2,616,732 | 2,552,170 | |||
Total | [1] | 2,708,080 | [2] | 2,640,665 | [3] | |
Commercial Real Estate (Includes Multi-Family Residential) [Member] | ||||||
Total loans held for investment | 3,229,556 | 3,131,083 | 2,958,239 | |||
Total | 3,229,556 | 3,131,083 | ||||
Farmland [Member] | ||||||
Total loans held for investment | 459,303 | 434,349 | ||||
Agriculture [Member] | ||||||
Total loans held for investment | 198,330 | 214,469 | ||||
Consumer and Other [Member] | ||||||
Total loans held for investment | 259,734 | 252,579 | 270,126 | |||
Total | 259,734 | 252,579 | ||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 31,831 | 23,933 | ||||
Total loans held for investment | 9,618,177 | 9,414,656 | $ 9,103,853 | |||
Total | $ 9,650,008 | $ 9,438,589 | ||||
[1] | Includes $31.8 million and $23.9 million of residential mortgage loans held for sale at June 30, 2016 and December 31, 2015, respectively. | |||||
[2] | Includes $31.8 million of residential mortgage loans held for sale at June 30, 2016. | |||||
[3] | Includes $23.9 million of residential mortgage loans held for sale at December 31, 2015. |
Note 5 - Loans and Allowance 36
Note 5 - Loans and Allowance for Credit Losses - Related Party Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Beginning balance on January 1 | $ 4,063 | $ 4,940 |
New loans | 160 | 428 |
Repayments and reclassified related loans | (64) | (1,305) |
Ending balance | $ 4,159 | $ 4,063 |
Note 5 - Loans and Allowance 37
Note 5 - Loans and Allowance for Credit Losses - Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |||
Construction, Land Development and Other Land Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | $ 7,235 | $ 4,097 | |||
Construction, Land Development and Other Land Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 286 | 0 | |||
Construction, Land Development and Other Land Loans [Member] | |||||
Loans past due and still accruing | 7,521 | 4,097 | |||
Nonaccrual loans | 109 | 134 | |||
Current loans | 1,159,656 | 1,068,967 | |||
Total | 1,167,286 | 1,073,198 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | 564 | 946 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 814 | 0 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | |||||
Loans past due and still accruing | 1,378 | 946 | |||
Nonaccrual loans | 869 | 208 | |||
Current loans | 655,386 | 647,664 | |||
Total | 657,633 | 648,818 | |||
1-4 Family Residential (Includes Home Equity) [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | [1] | 2,068 | 4,748 | ||
1-4 Family Residential (Includes Home Equity) [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | [1] | 0 | 220 | ||
1-4 Family Residential (Includes Home Equity) [Member] | |||||
Loans past due and still accruing | [1] | 2,068 | 4,968 | ||
Nonaccrual loans | [1] | 4,305 | 1,894 | ||
Current loans | [1] | 2,701,707 | 2,633,803 | ||
Total | [1] | 2,708,080 | [2] | 2,640,665 | [3] |
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | 5,884 | 12,922 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 3,990 | 0 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | |||||
Loans past due and still accruing | 9,874 | 12,922 | |||
Nonaccrual loans | 9,086 | 15,535 | |||
Current loans | 3,210,596 | 3,102,626 | |||
Total | 3,229,556 | 3,131,083 | |||
Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | 16,938 | 4,793 | |||
Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 1,683 | 394 | |||
Commercial and Industrial [Member] | |||||
Loans past due and still accruing | 18,621 | 5,187 | |||
Nonaccrual loans | 14,953 | 21,692 | |||
Current loans | 1,594,145 | 1,665,367 | |||
Total | 1,627,719 | 1,692,246 | |||
Consumer and Other [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | 643 | 1,274 | |||
Consumer and Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 49 | 0 | |||
Consumer and Other [Member] | |||||
Loans past due and still accruing | 692 | 1,274 | |||
Nonaccrual loans | 225 | 248 | |||
Current loans | 258,817 | 251,057 | |||
Total | 259,734 | 252,579 | |||
Financing Receivables, 30 to 89 Days Past Due [Member] | |||||
Loans past due and still accruing | 33,332 | 28,780 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans past due and still accruing | 6,822 | 614 | |||
Loans past due and still accruing | 40,154 | 29,394 | |||
Nonaccrual loans | 29,547 | 39,711 | |||
Current loans | 9,580,307 | 9,369,484 | |||
Total | $ 9,650,008 | $ 9,438,589 | |||
[1] | Includes $31.8 million and $23.9 million of residential mortgage loans held for sale at June 30, 2016 and December 31, 2015, respectively. | ||||
[2] | Includes $31.8 million of residential mortgage loans held for sale at June 30, 2016. | ||||
[3] | Includes $23.9 million of residential mortgage loans held for sale at December 31, 2015. |
Note 5 - Loans and Allowance 38
Note 5 - Loans and Allowance for Credit Losses - Nonperforming Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | [1] | $ 29,547 | $ 39,711 |
Accruing loans 90 or more days past due | 6,822 | 614 | |
Total nonperforming loans | 36,369 | 40,325 | |
Repossessed assets | 84 | 171 | |
Other real estate | 15,677 | 2,963 | |
Total nonperforming assets | $ 52,130 | $ 43,459 | |
Nonperforming assets to total loans and other real estate | 0.54% | 0.46% | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 29,547 | $ 39,711 | |
Other real estate | $ 15,677 | $ 2,963 | |
[1] | Includes troubled debt restructurings of $404 thousand and $681 thousand as of June 30, 2016 and December 31, 2015, respectively. |
Note 5 - Loans and Allowance 39
Note 5 - Loans and Allowance for Credit Losses - Nonperforming Assets (Details) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Troubled Debt Restructuring [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 404 | $ 681 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 29,547 | $ 39,711 |
Note 5 - Loans and Allowance 40
Note 5 - Loans and Allowance for Credit Losses - Purchased Credit Impaired Loans (Details) - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Outstanding balance | $ 65,571 | $ 79,802 |
Less: discount | 30,479 | 39,976 |
Recorded investment | $ 35,092 | $ 39,826 |
Note 5 - Loans and Allowance 41
Note 5 - Loans and Allowance for Credit Losses - Changes in Accretable Yield for PCI Loans (Details) - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Balance | $ 13,175 | $ 7,870 | $ 5,664 | $ 9,867 |
Additions | 0 | 0 | 10,222 | 0 |
Reclassifications from nonaccretable | 2,311 | 1,695 | 7,431 | 8,632 |
Accretion | (3,471) | (3,214) | (11,302) | (12,148) |
Balance | $ 12,015 | $ 6,351 | $ 12,015 | $ 6,351 |
Note 5 - Loans and Allowance 42
Note 5 - Loans and Allowance for Credit Losses - Non Purchased Credit Impaired Loans (Details) - Non PCI Loans [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Outstanding balance | $ 1,382,690 | $ 1,430,501 |
Less: discount | 44,672 | 54,734 |
Recorded investment | $ 1,338,018 | $ 1,375,767 |
Note 5 - Loans and Allowance 43
Note 5 - Loans and Allowance for Credit Losses - Changes in Accretable Yield for Non PCI Loans (Details) - Non PCI Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Balance | $ 50,509 | $ 78,289 | $ 54,734 | $ 89,105 |
Additions | 0 | 0 | 3,491 | 0 |
Accretion charge-offs | (4) | (6) | (1,057) | (109) |
Accretion | (5,833) | (10,388) | (12,496) | (21,101) |
Balance | $ 44,672 | $ 67,895 | $ 44,672 | $ 67,895 |
Note 5 - Loans and Allowance 44
Note 5 - Loans and Allowance for Credit Losses - Impaired Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Construction, Land Development and Other Land Loans [Member] | ||
Impaired loans with no related allowance, recorded investment | $ 15 | $ 33 |
Impaired loans with no related allowance, unpaid principal balance | 335 | 346 |
Impaired loans with no related allowance, average recorded investment | 24 | 142 |
Impaired loans with related allowance, recorded investment | 0 | 7 |
Impaired loans with related allowance, unpaid principal balance | 0 | 11 |
Impaired loans with related allowance, related allowance | 0 | 2 |
Impaired loans with related allowance, average recorded investment | 4 | 141 |
Impaired loans, recorded investment | 15 | 40 |
Impaired loans, unpaid principal balance | 335 | 357 |
Impaired loans, average recorded investment | 28 | 283 |
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | ||
Impaired loans with no related allowance, recorded investment | 869 | 20 |
Impaired loans with no related allowance, unpaid principal balance | 893 | 23 |
Impaired loans with no related allowance, average recorded investment | 445 | 10 |
Impaired loans with related allowance, recorded investment | 0 | 189 |
Impaired loans with related allowance, unpaid principal balance | 0 | 201 |
Impaired loans with related allowance, related allowance | 0 | 52 |
Impaired loans with related allowance, average recorded investment | 95 | 118 |
Impaired loans, recorded investment | 869 | 209 |
Impaired loans, unpaid principal balance | 893 | 224 |
Impaired loans, average recorded investment | 540 | 128 |
1-4 Family Residential (Includes Home Equity) [Member] | ||
Impaired loans with no related allowance, recorded investment | 2,714 | 1,206 |
Impaired loans with no related allowance, unpaid principal balance | 2,908 | 1,365 |
Impaired loans with no related allowance, average recorded investment | 1,960 | 1,458 |
Impaired loans with related allowance, recorded investment | 413 | 379 |
Impaired loans with related allowance, unpaid principal balance | 431 | 386 |
Impaired loans with related allowance, related allowance | 159 | 93 |
Impaired loans with related allowance, average recorded investment | 396 | 902 |
Impaired loans, recorded investment | 3,127 | 1,585 |
Impaired loans, unpaid principal balance | 3,339 | 1,751 |
Impaired loans, average recorded investment | 2,356 | 2,360 |
Commercial Real Estate (Includes Multi-Family Residential) [Member] | ||
Impaired loans with no related allowance, recorded investment | 8,895 | 15,115 |
Impaired loans with no related allowance, unpaid principal balance | 8,950 | 15,398 |
Impaired loans with no related allowance, average recorded investment | 12,005 | 10,104 |
Impaired loans with related allowance, recorded investment | 69 | 262 |
Impaired loans with related allowance, unpaid principal balance | 69 | 1,857 |
Impaired loans with related allowance, related allowance | 69 | 262 |
Impaired loans with related allowance, average recorded investment | 166 | 162 |
Impaired loans, recorded investment | 8,964 | 15,377 |
Impaired loans, unpaid principal balance | 9,019 | 17,255 |
Impaired loans, average recorded investment | 12,171 | 10,266 |
Commercial and Industrial [Member] | ||
Impaired loans with no related allowance, recorded investment | 4,739 | 1,354 |
Impaired loans with no related allowance, unpaid principal balance | 5,023 | 1,630 |
Impaired loans with no related allowance, average recorded investment | 3,047 | 5,419 |
Impaired loans with related allowance, recorded investment | 10,191 | 14,594 |
Impaired loans with related allowance, unpaid principal balance | 11,537 | 16,413 |
Impaired loans with related allowance, related allowance | 3,772 | 7,082 |
Impaired loans with related allowance, average recorded investment | 12,393 | 8,524 |
Impaired loans, recorded investment | 14,930 | 15,948 |
Impaired loans, unpaid principal balance | 16,560 | 18,043 |
Impaired loans, average recorded investment | 15,440 | 13,943 |
Consumer and Other [Member] | ||
Impaired loans with no related allowance, recorded investment | 177 | 58 |
Impaired loans with no related allowance, unpaid principal balance | 274 | 131 |
Impaired loans with no related allowance, average recorded investment | 117 | 4,101 |
Impaired loans with related allowance, recorded investment | 47 | 181 |
Impaired loans with related allowance, unpaid principal balance | 70 | 220 |
Impaired loans with related allowance, related allowance | 8 | 44 |
Impaired loans with related allowance, average recorded investment | 114 | 208 |
Impaired loans, recorded investment | 224 | 239 |
Impaired loans, unpaid principal balance | 344 | 351 |
Impaired loans, average recorded investment | 231 | 4,309 |
Impaired loans with no related allowance, recorded investment | 17,409 | 17,786 |
Impaired loans with no related allowance, unpaid principal balance | 18,383 | 18,893 |
Impaired loans with no related allowance, average recorded investment | 17,598 | 21,234 |
Impaired loans with related allowance, recorded investment | 10,720 | 15,612 |
Impaired loans with related allowance, unpaid principal balance | 12,107 | 19,088 |
Impaired loans with related allowance, related allowance | 4,008 | 7,535 |
Impaired loans with related allowance, average recorded investment | 13,168 | 10,055 |
Impaired loans, recorded investment | 28,129 | 33,398 |
Impaired loans, unpaid principal balance | 30,490 | 37,981 |
Impaired loans, average recorded investment | $ 30,766 | $ 31,289 |
Note 5 - Loans and Allowance 45
Note 5 - Loans and Allowance for Credit Losses - Risk Grades and Impaired Loans by Class of Loan (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 1 [Member] | |||||
Loans | $ 0 | $ 0 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 2 [Member] | |||||
Loans | 3,452 | 3,975 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 3 [Member] | |||||
Loans | 1,099,780 | 1,034,792 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 4 [Member] | |||||
Loans | 55,736 | 29,831 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 5 [Member] | |||||
Loans | 3,225 | 2,431 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 6 [Member] | |||||
Loans | 3,553 | 1,209 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 7 [Member] | |||||
Loans | 15 | 40 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 8 [Member] | |||||
Loans | 0 | 0 | |||
Construction, Land Development and Other Land Loans [Member] | Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
Construction, Land Development and Other Land Loans [Member] | PCI Loans [Member] | |||||
Loans | 1,525 | [1],[2] | 920 | [3] | |
Construction, Land Development and Other Land Loans [Member] | |||||
Loans | 1,167,286 | 1,073,198 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 1 [Member] | |||||
Loans | 13,036 | 12,733 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 2 [Member] | |||||
Loans | 5,336 | 5,603 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 3 [Member] | |||||
Loans | 561,018 | 553,782 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 4 [Member] | |||||
Loans | 69,081 | 67,453 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 5 [Member] | |||||
Loans | 6,690 | 7,191 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 6 [Member] | |||||
Loans | 1,211 | 1,452 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 7 [Member] | |||||
Loans | 869 | 209 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 8 [Member] | |||||
Loans | 0 | 0 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | PCI Loans [Member] | |||||
Loans | 392 | [1],[2] | 395 | [3] | |
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | |||||
Loans | 657,633 | 648,818 | |||
1-4 Family Residential (Includes Home Equity) [Member] | Grade 1 [Member] | |||||
Loans | [1] | 0 | 0 | ||
1-4 Family Residential (Includes Home Equity) [Member] | Grade 2 [Member] | |||||
Loans | 25,453 | [1] | 27,272 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 3 [Member] | |||||
Loans | 2,601,977 | [1] | 2,539,282 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 4 [Member] | |||||
Loans | 60,544 | [1] | 58,172 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 5 [Member] | |||||
Loans | 3,015 | [1] | 1,261 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 6 [Member] | |||||
Loans | 7,651 | [1] | 7,824 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 7 [Member] | |||||
Loans | 3,069 | [1] | 1,526 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 8 [Member] | |||||
Loans | 57 | [1] | 59 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | Grade 9 [Member] | |||||
Loans | 0 | [1] | 0 | [4] | |
1-4 Family Residential (Includes Home Equity) [Member] | PCI Loans [Member] | |||||
Loans | 6,314 | [1],[2] | 5,269 | [3],[4] | |
1-4 Family Residential (Includes Home Equity) [Member] | |||||
Loans | [5] | 2,708,080 | [1] | 2,640,665 | [4] |
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 1 [Member] | |||||
Loans | 0 | 0 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 2 [Member] | |||||
Loans | 7,747 | 24,965 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 3 [Member] | |||||
Loans | 2,932,431 | 2,861,872 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 4 [Member] | |||||
Loans | 213,560 | 164,924 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 5 [Member] | |||||
Loans | 24,182 | 20,078 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 6 [Member] | |||||
Loans | 24,088 | 26,237 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 7 [Member] | |||||
Loans | 8,895 | 15,377 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 8 [Member] | |||||
Loans | 69 | 0 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | PCI Loans [Member] | |||||
Loans | 18,584 | [1],[2] | 17,630 | [3] | |
Commercial Real Estate (Includes Multi-Family Residential) [Member] | |||||
Loans | 3,229,556 | 3,131,083 | |||
Commercial and Industrial [Member] | Grade 1 [Member] | |||||
Loans | 62,859 | 57,625 | |||
Commercial and Industrial [Member] | Grade 2 [Member] | |||||
Loans | 24,086 | 27,755 | |||
Commercial and Industrial [Member] | Grade 3 [Member] | |||||
Loans | 1,203,148 | 1,355,887 | |||
Commercial and Industrial [Member] | Grade 4 [Member] | |||||
Loans | 180,722 | 123,772 | |||
Commercial and Industrial [Member] | Grade 5 [Member] | |||||
Loans | 51,644 | 68,618 | |||
Commercial and Industrial [Member] | Grade 6 [Member] | |||||
Loans | 82,476 | 28,005 | |||
Commercial and Industrial [Member] | Grade 7 [Member] | |||||
Loans | 13,151 | 12,487 | |||
Commercial and Industrial [Member] | Grade 8 [Member] | |||||
Loans | 1,356 | 2,485 | |||
Commercial and Industrial [Member] | Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
Commercial and Industrial [Member] | PCI Loans [Member] | |||||
Loans | 8,277 | [1],[2] | 15,612 | [3] | |
Commercial and Industrial [Member] | |||||
Loans | 1,627,719 | 1,692,246 | |||
Consumer and Other [Member] | Grade 1 [Member] | |||||
Loans | 41,423 | 44,389 | |||
Consumer and Other [Member] | Grade 2 [Member] | |||||
Loans | 21,337 | 34,668 | |||
Consumer and Other [Member] | Grade 3 [Member] | |||||
Loans | 181,231 | 162,892 | |||
Consumer and Other [Member] | Grade 4 [Member] | |||||
Loans | 12,781 | 3,395 | |||
Consumer and Other [Member] | Grade 5 [Member] | |||||
Loans | 2 | 6,908 | |||
Consumer and Other [Member] | Grade 6 [Member] | |||||
Loans | 2,735 | 88 | |||
Consumer and Other [Member] | Grade 7 [Member] | |||||
Loans | 225 | 239 | |||
Consumer and Other [Member] | Grade 8 [Member] | |||||
Loans | 0 | 0 | |||
Consumer and Other [Member] | Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
Consumer and Other [Member] | PCI Loans [Member] | |||||
Loans | 0 | [1],[2] | 0 | [3] | |
Consumer and Other [Member] | |||||
Loans | 259,734 | 252,579 | |||
Grade 1 [Member] | |||||
Loans | 117,318 | 114,747 | |||
Grade 2 [Member] | |||||
Loans | 87,411 | 124,238 | |||
Grade 3 [Member] | |||||
Loans | 8,579,585 | 8,508,507 | |||
Grade 4 [Member] | |||||
Loans | 592,424 | 447,547 | |||
Grade 5 [Member] | |||||
Loans | 88,758 | 106,487 | |||
Grade 6 [Member] | |||||
Loans | 121,714 | 64,815 | |||
Grade 7 [Member] | |||||
Loans | 26,224 | 29,878 | |||
Grade 8 [Member] | |||||
Loans | 1,482 | 2,544 | |||
Grade 9 [Member] | |||||
Loans | 0 | 0 | |||
PCI Loans [Member] | |||||
Loans | 35,092 | [1],[2] | 39,826 | [3] | |
Loans | $ 9,650,008 | $ 9,438,589 | |||
[1] | Includes $31.8 million of residential mortgage loans held for sale at June 30, 2016. | ||||
[2] | Of the total PCI loans, $1.9 million were classified as substandard at June 30, 2016, which includes $423 thousand with specific reserves allocated to them. | ||||
[3] | Of the total PCI loans, $7.3 million were classified as substandard at December 31, 2015, which includes $976 thousand with specific reserves allocated to them. | ||||
[4] | Includes $23.9 million of residential mortgage loans held for sale at December 31, 2015. | ||||
[5] | Includes $31.8 million and $23.9 million of residential mortgage loans held for sale at June 30, 2016 and December 31, 2015, respectively. |
Note 5 - Loans and Allowance 46
Note 5 - Loans and Allowance for Credit Losses - Risk Grades and Impaired Loans by Class of Loan (Details) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Substandard [Member] | ||
Loans Receivable, Fair Value Disclosure | $ 1,900 | $ 1,900 |
1-4 Family Residential (Includes Home Equity) [Member] | ||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 31,800 | 31,800 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | $ 31,831 | $ 23,933 |
Note 5 - Loans and Allowance 47
Note 5 - Loans and Allowance for Credit Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Construction, Land Development and Other Land Loans [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | $ 14,365 | $ 16,858 | $ 14,882 | $ 15,825 | |||
Provision for credit losses | (188) | 49 | (891) | 1,227 | |||
Charge-offs | 0 | 0 | (7) | (151) | |||
Recoveries | 25 | 2 | 218 | 8 | |||
Net charge-offs | 25 | 2 | 211 | (143) | |||
Allowance for credit losses, ending balance | 14,202 | 16,909 | 14,202 | 16,909 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | $ 0 | $ 2 | $ 185 | ||||
Allowance for credit losses, collectively evaluated for impairment | 14,202 | 14,880 | 16,724 | ||||
Allowance for credit losses, PCI loans | 0 | 0 | 0 | ||||
Total allowance for credit losses | 14,365 | 16,858 | 14,202 | 16,909 | 14,202 | 14,882 | 16,909 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 15 | 40 | 429 | ||||
Loans, collectively evaluated for impairment | 1,165,746 | 1,072,238 | 1,066,061 | ||||
PCI loans | 1,525 | 920 | 1,566 | ||||
Total loans evaluated for impairment | 1,167,286 | 1,073,198 | 1,068,056 | ||||
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | 3,572 | 3,277 | 3,845 | 3,722 | |||
Provision for credit losses | (98) | 429 | 6,591 | (94) | |||
Charge-offs | 0 | 0 | (7,025) | 0 | |||
Recoveries | 655 | 65 | 718 | 143 | |||
Net charge-offs | 655 | 65 | (6,307) | 143 | |||
Allowance for credit losses, ending balance | 4,129 | 3,771 | 4,129 | 3,771 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | 0 | 52 | 11 | ||||
Allowance for credit losses, collectively evaluated for impairment | 4,129 | 3,793 | 3,760 | ||||
Allowance for credit losses, PCI loans | 0 | 0 | 0 | ||||
Total allowance for credit losses | 3,572 | 3,277 | 4,129 | 3,771 | 4,129 | 3,845 | 3,771 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 869 | 209 | 556 | ||||
Loans, collectively evaluated for impairment | 656,372 | 648,214 | 599,689 | ||||
PCI loans | 392 | 395 | 500 | ||||
Total loans evaluated for impairment | 657,633 | 648,818 | 600,745 | ||||
1-4 Family Residential (Includes Home Equity) [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | 14,564 | 16,778 | 14,891 | 16,377 | |||
Provision for credit losses | 274 | (173) | (23) | 314 | |||
Charge-offs | (2) | (31) | (51) | (129) | |||
Recoveries | 80 | 19 | 99 | 31 | |||
Net charge-offs | 78 | (12) | 48 | (98) | |||
Allowance for credit losses, ending balance | 14,916 | 16,593 | 14,916 | 16,593 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | 159 | 93 | 243 | ||||
Allowance for credit losses, collectively evaluated for impairment | 14,757 | 14,798 | 16,350 | ||||
Allowance for credit losses, PCI loans | 0 | 0 | 0 | ||||
Total allowance for credit losses | 14,564 | 16,778 | 14,916 | 16,593 | 14,916 | 14,891 | 16,593 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 3,127 | 1,585 | 2,951 | ||||
Loans, collectively evaluated for impairment | 2,666,808 | 2,609,878 | 2,543,494 | ||||
PCI loans | 6,314 | 5,269 | 5,725 | ||||
Total loans evaluated for impairment | 2,676,249 | 2,616,732 | 2,552,170 | ||||
Commercial Real Estate (Includes Multi-Family Residential) [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | 12,391 | 12,538 | 12,996 | 12,744 | |||
Provision for credit losses | 478 | 578 | (68) | 405 | |||
Charge-offs | (198) | (136) | (257) | (179) | |||
Recoveries | 1 | 22 | 1 | 32 | |||
Net charge-offs | (197) | (114) | (256) | (147) | |||
Allowance for credit losses, ending balance | 12,672 | 13,002 | 12,672 | 13,002 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | 69 | 262 | 743 | ||||
Allowance for credit losses, collectively evaluated for impairment | 12,603 | 12,734 | 12,259 | ||||
Allowance for credit losses, PCI loans | 0 | 0 | 0 | ||||
Total allowance for credit losses | 12,391 | 12,538 | 12,672 | 13,002 | 12,672 | 12,996 | 13,002 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 8,964 | 15,377 | 7,407 | ||||
Loans, collectively evaluated for impairment | 3,202,008 | 3,098,076 | 2,930,343 | ||||
PCI loans | 18,584 | 17,630 | 20,489 | ||||
Total loans evaluated for impairment | 3,229,556 | 3,131,083 | 2,958,239 | ||||
Commercial and Industrial [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | 37,163 | 30,084 | 33,409 | 30,002 | |||
Provision for credit losses | 3,200 | (907) | 11,350 | (321) | |||
Charge-offs | (4,340) | (98) | (10,617) | (826) | |||
Recoveries | 231 | 126 | 2,112 | 350 | |||
Net charge-offs | (4,109) | 28 | (8,505) | (476) | |||
Allowance for credit losses, ending balance | 36,254 | 29,205 | 36,254 | 29,205 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | 3,772 | 7,082 | 2,004 | ||||
Allowance for credit losses, collectively evaluated for impairment | 32,258 | 25,491 | 27,038 | ||||
Allowance for credit losses, PCI loans | 224 | 836 | 163 | ||||
Total allowance for credit losses | 37,163 | 30,084 | 36,254 | 29,205 | 36,254 | 33,409 | 29,205 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 14,930 | 15,948 | 13,569 | ||||
Loans, collectively evaluated for impairment | 1,604,512 | 1,660,686 | 1,622,904 | ||||
PCI loans | 8,277 | 15,612 | 18,044 | ||||
Total loans evaluated for impairment | 1,627,719 | 1,692,246 | 1,654,517 | ||||
Consumer and Other [Member] | |||||||
Allowance for credit losses: | |||||||
Allowance for credit losses, beginning balance | 1,659 | 1,428 | 1,361 | 2,092 | |||
Provision for credit losses | 2,334 | 524 | 3,041 | 219 | |||
Charge-offs | (2,577) | (744) | (3,425) | (1,473) | |||
Recoveries | 237 | 284 | 676 | 654 | |||
Net charge-offs | (2,340) | (460) | (2,749) | (819) | |||
Allowance for credit losses, ending balance | 1,653 | 1,492 | 1,653 | 1,492 | |||
Allowance for credit losses related to: | |||||||
Allowance for credit losses, individually evaluated for impairment | 8 | 44 | 87 | ||||
Allowance for credit losses, collectively evaluated for impairment | 1,645 | 1,317 | 1,405 | ||||
Allowance for credit losses, PCI loans | 0 | 0 | 0 | ||||
Total allowance for credit losses | 1,659 | 1,428 | 1,653 | 1,492 | 1,653 | 1,361 | 1,492 |
Recorded investment in loans: | |||||||
Loans, individually evaluated for impairment | 224 | 239 | 267 | ||||
Loans, collectively evaluated for impairment | 259,510 | 252,340 | 269,859 | ||||
PCI loans | 0 | 0 | 0 | ||||
Total loans evaluated for impairment | 259,734 | 252,579 | 270,126 | ||||
Allowance for credit losses, beginning balance | 83,714 | 80,963 | 81,384 | 80,762 | |||
Provision for credit losses | 6,000 | 500 | 20,000 | 1,750 | |||
Charge-offs | (7,117) | (1,009) | (21,382) | (2,758) | |||
Recoveries | 1,229 | 518 | 3,824 | 1,218 | |||
Net charge-offs | (5,888) | (491) | (17,558) | (1,540) | |||
Allowance for credit losses, ending balance | 83,826 | 80,972 | 83,826 | 80,972 | |||
Allowance for credit losses, individually evaluated for impairment | 4,008 | 7,535 | 3,273 | ||||
Allowance for credit losses, collectively evaluated for impairment | 79,594 | 73,013 | 77,536 | ||||
Allowance for credit losses, PCI loans | 224 | 836 | 163 | ||||
Total allowance for credit losses | $ 83,714 | $ 80,963 | $ 83,826 | $ 80,972 | 83,826 | 81,384 | 80,972 |
Loans, individually evaluated for impairment | 28,129 | 33,398 | 25,179 | ||||
Loans, collectively evaluated for impairment | 9,554,956 | 9,341,432 | 9,032,350 | ||||
PCI loans | 35,092 | 39,826 | 46,324 | ||||
Total loans evaluated for impairment | $ 9,618,177 | $ 9,414,656 | $ 9,103,853 |
Note 5 - Loans and Allowance 48
Note 5 - Loans and Allowance for Credit Losses - Troubled Debt Restructurings (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Agriculture and Agriculture Real Estate (Includes Farmland) [Member] | ||
Troubled Debt Restructurings | ||
Troubled debt restructurings, number of loans | 1 | 0 |
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 154 | $ 0 |
Troubled debt restructurings, post-modification outstanding recorded investment | $ 153 | $ 0 |
Consumer and Other [Member] | ||
Troubled Debt Restructurings | ||
Troubled debt restructurings, number of loans | 0 | 1 |
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 0 | $ 10 |
Troubled debt restructurings, post-modification outstanding recorded investment | $ 0 | $ 9 |
Troubled debt restructurings, number of loans | 1 | 1 |
Troubled debt restructurings, pre-modification outstanding recorded investment | $ 154 | $ 10 |
Troubled debt restructurings, post-modification outstanding recorded investment | $ 153 | $ 9 |
Note 6 - Fair Value (Details Te
Note 6 - Fair Value (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Other Real Estate, Additions | $ 864 | $ 13,900 |
Real Estate Owned Outstanding | 864 | 13,800 |
Additions to Impaired Loans | 7,400 | 23,900 |
Impaired Loans Outstanding | $ 10,900 | $ 18,800 |
Note 6 - Fair Value - Fair Valu
Note 6 - Fair Value - Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | $ 2,580 | $ 5,485 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 2,580 | 5,485 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 23,048 | 25,916 |
Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 23,048 | 25,916 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 100,779 | 58,971 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 100,779 | 58,971 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 12,795 | 12,692 |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 12,795 | 12,692 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 126,407 | 90,372 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 12,795 | 12,692 |
Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities: | ||
Available-for-sale Securities | 139,202 | 103,064 |
Available-for-sale Securities | $ 139,202 | $ 103,064 |
Note 6 - Fair Value - Financial
Note 6 - Fair Value - Financial Instruments Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Assets | ||
Cash and due from banks | $ 333,208 | $ 562,544 |
Federal funds sold | 484 | 1,418 |
Held to maturity securities | 9,135,449 | 9,399,363 |
Loans held for sale | 31,831 | 23,933 |
Loans held for investment, net of allowance | 9,534,351 | 9,333,272 |
Other real estate owned | 15,677 | 2,963 |
Liabilities | ||
Noninterest-bearing | 5,016,637 | 5,136,579 |
Interest-bearing | 12,202,508 | 12,544,540 |
Other borrowings | 606,049 | 491,399 |
Securities sold under repurchase agreements | 320,001 | 315,253 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Cash and due from banks | 333,208 | 562,544 |
Federal funds sold | 484 | 1,418 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Held to maturity securities | 9,279,813 | 9,393,175 |
Loans held for sale | 31,831 | 23,933 |
Other real estate owned | 15,677 | 2,963 |
Liabilities | ||
Noninterest-bearing | 5,016,637 | 5,136,579 |
Interest-bearing | 12,207,366 | 12,548,050 |
Other borrowings | 606,665 | 492,061 |
Securities sold under repurchase agreements | 320,007 | 315,241 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Loans held for investment, net of allowance | 9,581,909 | 9,365,758 |
Estimate of Fair Value Measurement [Member] | ||
Assets | ||
Cash and due from banks | 333,208 | 562,544 |
Federal funds sold | 484 | 1,418 |
Held to maturity securities | 9,279,813 | 9,393,175 |
Loans held for sale | 31,831 | 23,933 |
Loans held for investment, net of allowance | 9,581,909 | 9,365,758 |
Other real estate owned | 15,677 | 2,963 |
Liabilities | ||
Noninterest-bearing | 5,016,637 | 5,136,579 |
Interest-bearing | 12,207,366 | 12,548,050 |
Other borrowings | 606,665 | 492,061 |
Securities sold under repurchase agreements | 320,007 | 315,241 |
Cash and due from banks | 333,208 | 562,544 |
Federal funds sold | 484 | 1,418 |
Held to maturity securities | 9,279,813 | 9,393,175 |
Noninterest-bearing | 5,016,637 | 5,136,579 |
Interest-bearing | 12,202,508 | 12,544,540 |
Other borrowings | 606,049 | 491,399 |
Securities sold under repurchase agreements | $ 320,001 | $ 315,253 |
Note 7 - Goodwill and Core De52
Note 7 - Goodwill and Core Deposit Intangibles (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Core Deposits [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||
Core Deposits [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||||
Core Deposits [Member] | |||||
Amortization of Intangible Assets | $ 2,300 | $ 2,400 | $ 4,556 | $ 4,900 | $ 9,530 |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | |||
Amortization of Intangible Assets | $ 2,334 | $ 2,390 | $ 4,556 | $ 4,879 |
Note 7 - Goodwill and Core De53
Note 7 - Goodwill and Core Deposit Intangibles - Goodwill and Core Deposit Intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Core Deposits [Member] | |||||
Balance, core deposits | $ 49,417 | $ 58,947 | $ 58,947 | ||
Amortization, core deposits | $ (2,300) | $ (2,400) | (4,556) | (4,900) | (9,530) |
Balance, core deposits | 44,861 | 44,861 | 49,417 | ||
Tradition Bancshares Inc [Member] | |||||
Balance, goodwill | 34,600 | 34,600 | |||
Acquisition, goodwill | 34,624 | ||||
Balance, goodwill | 1,868,827 | 1,874,191 | 1,874,191 | ||
Balance, core deposits | 49,417 | ||||
Amortization, core deposits | (2,334) | $ (2,390) | (4,556) | $ (4,879) | |
Measurement period adjustments, goodwill | (5,364) | ||||
Balance, goodwill | 1,903,451 | 1,903,451 | 1,868,827 | ||
Balance, core deposits | $ 44,861 | $ 44,861 | $ 49,417 |
Note 7 - Goodwill and Core De54
Note 7 - Goodwill and Core Deposit Intangibles - Estimated Aggregate Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Remaining 2,016 | $ 3,963 | |
2,017 | 6,327 | |
2,018 | 5,400 | |
2,019 | 4,546 | |
2,020 | 4,026 | |
Thereafter | 20,599 | |
Total | $ 44,861 | $ 49,417 |
Note 8 - Stock-based Compensa55
Note 8 - Stock-based Compensation (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016USD ($)shares | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)shares | Jun. 30, 2015USD ($) | Dec. 31, 2012shares | Dec. 31, 2004shares | |
2004 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,250,000 | |||||
2012 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,250,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 327,551 | |||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | $ | $ 198 | $ 67 | $ 198 | $ 67 | ||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ | $ 0 | $ 0 | $ 0 | $ 0 | ||
Number of Stock Based Employee Compensation Plans | 2 | 2 | ||||
Number of Stock Based Employee Compensation Plans Expired | 1 | 1 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 19,900 | $ 19,900 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 219 days |
Note 9 - Contractual Obligati56
Note 9 - Contractual Obligations and Off-balance Sheet Items (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($) | |
To be Paid Over Future Periods [Member] | |
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Long-term | $ 860 |
Note 9 - Contractual Obligati57
Note 9 - Contractual Obligations and Off-balance Sheet Items - Contractual Obligations and Other Commitments (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Federal Home Loan Bank Advances [Member] | |
1 year or less | $ 600,886 |
More than 1 year but less than 3 years | 5,045 |
3 years or more but less than 5 years | 733 |
5 years or more | 245 |
Total | 606,909 |
Operating Leases [Member] | |
1 year or less | 6,079 |
More than 1 year but less than 3 years | 8,360 |
3 years or more but less than 5 years | 5,297 |
5 years or more | 7,229 |
Total | 26,965 |
1 year or less | 606,965 |
More than 1 year but less than 3 years | 13,405 |
3 years or more but less than 5 years | 6,030 |
5 years or more | 7,474 |
Total | $ 633,874 |
Note 9 - Contractual Obligati58
Note 9 - Contractual Obligations and Off-balance Sheet Items - Letters of Credit and Commitments (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Guarantee Obligations [Member] | Standby Letters of Credit [Member] | |
1 year or less | $ 73,833 |
More than 1 year but less than 3 years | 7,879 |
3 years or more but less than 5 years | 841 |
5 years or more | 0 |
Total | 82,553 |
Guarantee Obligations [Member] | Financial Guarantee [Member] | |
1 year or less | 1,068,069 |
More than 1 year but less than 3 years | 376,170 |
3 years or more but less than 5 years | 55,372 |
5 years or more | 534,895 |
Total | 2,034,506 |
Guarantee Obligations [Member] | |
1 year or less | 1,141,902 |
More than 1 year but less than 3 years | 384,049 |
3 years or more but less than 5 years | 56,213 |
5 years or more | 534,895 |
Total | 2,117,059 |
1 year or less | 606,965 |
More than 1 year but less than 3 years | 13,405 |
3 years or more but less than 5 years | 6,030 |
5 years or more | 7,474 |
Total | $ 633,874 |
Note 10 - Other Comprehensive I
Note 10 - Other Comprehensive Income (Loss) - Tax Effects Allocated to Each Component of Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Change in unrealized gain during period, before tax | $ (790) | $ (640) | $ (642) | $ (1,082) |
Change in unrealized gain during period, tax | 277 | 224 | 225 | 379 |
Change in unrealized gain during period, net of tax | (513) | (416) | (417) | (703) |
Total securities available for sale, before tax | (790) | (640) | (642) | (1,082) |
Total securities available for sale, tax | 277 | 224 | 225 | 379 |
Total securities available for sale, net of tax | (513) | (416) | (417) | (703) |
Total other comprehensive loss, before tax | (790) | (640) | (642) | (1,082) |
Total other comprehensive loss, tax | 277 | 224 | 225 | 379 |
Other comprehensive loss | $ (513) | $ (416) | $ (417) | $ (703) |
Note 10 - Other Comprehensive60
Note 10 - Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Beginning balance, accumulated other comprehensive income | $ 2,040 | $ 3,729 | ||
Other comprehensive loss | (417) | (703) | ||
Ending balance, accumulated other comprehensive income | $ 1,623 | $ 3,026 | 1,623 | 3,026 |
Beginning balance, accumulated other comprehensive income | 2,040 | 3,729 | ||
Other comprehensive loss | (513) | (416) | (417) | (703) |
Ending balance, accumulated other comprehensive income | $ 1,623 | $ 3,026 | $ 1,623 | $ 3,026 |
Note 11 - Acquisitions (Details
Note 11 - Acquisitions (Details Textual) $ / shares in Units, $ in Thousands | Jan. 02, 2016USD ($)shares | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($) |
Tradition Bancshares Inc [Member] | Houston [Member] | ||||
Number of Operating Banking Offices | 7 | |||
Tradition Bancshares Inc [Member] | Katy [Member] | ||||
Number of Operating Banking Offices | 3 | |||
Tradition Bancshares Inc [Member] | The Woodlands [Member] | ||||
Number of Operating Banking Offices | 1 | |||
Tradition Bancshares Inc [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 679,528 | |||
Payments to Acquire Businesses, Gross | $ 39,000 | |||
Business Combination, Consideration Transferred | $ 71,500 | |||
Business Acquisition, Share Price | $ / shares | $ 47.86 | |||
Goodwill | $ 34,600 | |||
Goodwill | $ 1,903,451 | $ 1,868,827 | $ 1,874,191 |