Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Feb. 19, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Entity Registrant Name | 'TEXAS CAPITAL BANCSHARES INC/TX | ' |
Entity Central Index Key | '0001077428 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well Known Seasoned Issuer | 'Yes | ' |
Entity Common Stock Shares Outstanding | ' | 42,755,496 |
Entity Public Float | ' | $2,517,443,605 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $92,484 | $111,938 |
Interest-bearing Deposits in Banks | 61,337 | 94,410 |
Federal funds sold | 90 | 0 |
Securities, available-for-sale | 63,214 | 100,195 |
Loans held for sale from discontinued operations | 294 | 302 |
Mortgage Finance | 2,784,265 | 3,175,272 |
Loans held for investment (net of unearned income) | 8,486,309 | 6,785,535 |
Less: Allowance for loan losses | 87,604 | 74,337 |
Loans held for investment, net | 11,182,970 | 9,886,470 |
Premises and equipment, net | 11,482 | 11,445 |
Accrued interest receivable and other assets | 281,534 | 316,201 |
Goodwill and intangible assets, net | 21,286 | 19,883 |
Total assets | 11,714,691 | 10,540,844 |
Deposits: | ' | ' |
Non-interest bearing | 3,347,567 | 2,535,375 |
Interest bearing | 5,579,505 | 4,576,120 |
Interest bearing in foreign branches | 330,307 | 329,309 |
Total deposits | 9,257,379 | 7,440,804 |
Accrued interest payable | 749 | 650 |
Other liabilities | 110,177 | 91,581 |
Federal funds purchased | 148,650 | 273,179 |
Repurchase agreements | 21,954 | 23,936 |
Other Borrowings | 855,026 | 1,650,046 |
Subordinated notes | 111,000 | 111,000 |
Trust preferred subordinated debentures | 113,406 | 113,406 |
Total liabilities | 10,618,341 | 9,704,602 |
Stockholders' equity: | ' | ' |
Preferred stock, $.01 par value, $1,000 liquidation value: Authorized shares - 10,000,000; Issued shares - none | 150,000 | ' |
Common stock, $.01 par value: Authorized shares - 100,000,000; Issued shares - 41,036,787 and 40,727,996 at December 31 2013 and 2002, respectively | 410 | 407 |
Additional paid-in capital | 448,208 | 450,116 |
Retained earnings | 496,112 | 382,455 |
Treasury stock (shares at cost: 417 at December 31, 2013 and 2012, respectively) | -8 | -8 |
Accumulated other comprehensive income, net of taxes | 1,628 | 3,272 |
Total stockholders' equity | 1,096,350 | 836,242 |
Total liabilities and stockholders' equity | $11,714,691 | $10,540,844 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
CONSOLIDATED BALANCE SHEETS | ' | ' |
Preferred Stock Par Or Stated Value Per Share | $0.01 | $0.01 |
Preferred Stock Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock Shares Issued | 6,000,000 | 0 |
Common Stock Par Or Stated Value Per Share | $0.01 | $0.01 |
Common Stock Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock Shares Issued | 41,036,787 | 40,727,996 |
Treasury Stock Shares | 417 | 417 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | ' | ' | ' |
Interest and fees on loans | $441,314 | $393,548 | $314,753 |
Securities | 3,015 | 4,688 | 6,458 |
Federal funds sold | 65 | 13 | 37 |
Deposits in other banks | 231 | 208 | 352 |
Total interest income | 444,625 | 398,457 | 321,600 |
Interest expense | ' | ' | ' |
Deposits | 14,030 | 13,644 | 14,950 |
Federal funds purchased | 686 | 979 | 602 |
Repurchase agreements | 18 | 13 | 10 |
Other borrowings | 515 | 2,149 | 528 |
Subordinated notes | 7,327 | 2,037 | 0 |
Trust preferred submordinated debentures | 2,536 | 2,756 | 2,573 |
Total interest expense | 25,112 | 21,578 | 18,663 |
Net interest income | 419,513 | 376,879 | 302,937 |
Provision for credit losses | 19,000 | 11,500 | 28,500 |
Net interest income after provision for credit losses | 400,513 | 365,379 | 274,437 |
Non-interest income | ' | ' | ' |
Service charges on deposit accounts | 6,783 | 6,605 | 6,480 |
Trust fee income | 5,023 | 4,822 | 4,219 |
Bank Owned Life Insurance (BOLI) Income | 1,917 | 2,168 | 2,095 |
Brokered loan fees | 16,980 | 17,596 | 11,335 |
Swap fees | 5,520 | 4,909 | 1,935 |
Other | 7,801 | 6,940 | 6,168 |
Total non-interest income | 44,024 | 43,040 | 32,232 |
Non-interest expense | ' | ' | ' |
Salaries and employee benefits | 157,752 | 121,456 | 100,535 |
Net occupancy expense | 16,821 | 14,852 | 13,657 |
Marketing | 16,203 | 13,449 | 11,109 |
Legal and professional | 18,104 | 17,557 | 14,996 |
Communications and technology | 13,762 | 11,158 | 9,608 |
FDIC insurance assessment | 8,057 | 5,568 | 7,543 |
Allowance and other carrying costs for OREO | 1,788 | 9,075 | 9,586 |
Litigation settlement expense | -908 | 4,000 | 0 |
Other | 25,155 | 22,729 | 21,167 |
Total non-interest expense | 256,734 | 219,844 | 188,201 |
Income (loss) from continuing operations before income taxes | 187,803 | 188,575 | 118,468 |
Income tax expense | 66,757 | 67,866 | 42,366 |
Income from continuing operations | 121,046 | 120,709 | 76,102 |
Loss from discontinued operations (after-tax) | 5 | -37 | -126 |
Net income | 121,051 | 120,672 | 75,976 |
Preferred stock dividends | -7,394 | 0 | 0 |
Net income available to common shareholders | 113,657 | 120,672 | 75,976 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, [Abstract] | ' | ' | ' |
Unrealized gain/loss on available-for-sale securities arising during period | -2,529 | -2,231 | -974 |
Income tax expense/benefit related to unrealized gain on avaiable-for-sale securities | -885 | -781 | -341 |
Other comprehensive income, net of tax | -1,644 | -1,450 | -633 |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest Abstract | ' | ' | ' |
Total comprehensive income (unaudited) | $119,407 | $119,222 | $75,343 |
Basic earnings per common share | ' | ' | ' |
Income from continuing operations | $2.78 | $3.09 | $2.04 |
Net income | $2.78 | $3.09 | $2.03 |
Diluted earnings per common share | ' | ' | ' |
Income from continuing operations | $2.72 | $3.01 | $1.99 |
Net income | $2.72 | $3 | $1.98 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) |
In Thousands, except Share data, unless otherwise specified | |||||||
Beginning balance - Value at Dec. 31, 2010 | $528,319 | ' | $369 | $336,796 | $185,807 | ($8) | $5,355 |
Beginning balance - Shares at Dec. 31, 2010 | ' | ' | 36,957,104 | ' | ' | -417 | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 75,976 | ' | ' | ' | 75,976 | ' | ' |
Change in unrealized gain on available-for-sale securities, net of taxes of $341,$781,$885 in year 2011, 2012 and 2013 respectively (unaudited) | -633 | ' | ' | ' | ' | ' | -633 |
Total comprehensive income (unaudited) | 75,343 | ' | ' | ' | ' | ' | ' |
Tax expense related to exercise of stock options | 3,139 | ' | ' | 3,139 | ' | ' | ' |
Stock-based compensation expense recognized in earnings | 7,340 | ' | ' | 7,340 | ' | ' | ' |
Issuance of stock related to stock-based awards - Shares | ' | ' | 709,604 | ' | ' | ' | ' |
Issuance of stock related to stock-based awards - Value | 2,190 | ' | 7 | 2,183 | ' | ' | ' |
Proceeds from issuance of preferred stock and related warrants | 0 | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | 0 | ' | ' | ' | ' | ' | ' |
Ending balance (unaudited) - Value at Dec. 31, 2011 | 616,331 | ' | 376 | 349,458 | 261,783 | -8 | 4,722 |
Ending balance (unaudited) - Shares at Dec. 31, 2011 | ' | ' | 37,666,708 | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 120,672 | ' | ' | ' | 120,672 | ' | ' |
Change in unrealized gain on available-for-sale securities, net of taxes of $341,$781,$885 in year 2011, 2012 and 2013 respectively (unaudited) | -1,450 | ' | ' | ' | ' | ' | -1,450 |
Total comprehensive income (unaudited) | 119,222 | ' | ' | ' | ' | ' | ' |
Tax expense related to exercise of stock options | 7,769 | ' | ' | 7,769 | ' | ' | ' |
Stock-based compensation expense recognized in earnings | 5,578 | ' | ' | 5,578 | ' | ' | ' |
Issuance of stock related to stock-based awards - Shares | ' | ' | 761,288 | ' | ' | ' | ' |
Issuance of stock related to stock-based awards - Value | 355 | ' | 8 | 347 | ' | ' | ' |
Issuance of stock - Value | 86,987 | ' | 23 | 86,964 | ' | ' | ' |
Issuance of stock - Shares | ' | ' | 2,300,000 | ' | ' | ' | ' |
Issuance of preferred stock | 0 | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of preferred stock and related warrants | 0 | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | 0 | ' | ' | ' | ' | ' | ' |
Ending balance (unaudited) - Value at Dec. 31, 2012 | 836,242 | ' | 407 | 450,116 | 382,455 | -8 | 3,272 |
Ending balance (unaudited) - Shares at Dec. 31, 2012 | ' | ' | 40,727,996 | ' | ' | -417 | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 121,051 | ' | ' | ' | 121,051 | ' | ' |
Change in unrealized gain on available-for-sale securities, net of taxes of $341,$781,$885 in year 2011, 2012 and 2013 respectively (unaudited) | -1,644 | ' | ' | ' | ' | ' | -1,644 |
Total comprehensive income (unaudited) | 119,407 | ' | ' | ' | ' | ' | ' |
Tax expense related to exercise of stock options | 1,200 | ' | ' | 1,200 | ' | ' | ' |
Stock-based compensation expense recognized in earnings | 4,118 | ' | ' | 4,118 | ' | ' | ' |
Issuance of stock related to stock-based awards - Shares | ' | ' | 272,452 | ' | ' | ' | ' |
Issuance of stock related to stock-based awards - Value | -2,250 | ' | 3 | -2,253 | ' | ' | ' |
Issuance of preferred stock | 6,000,000 | 6,000,000 | ' | ' | ' | ' | ' |
Proceeds from issuance of preferred stock and related warrants | 144,987 | 150,000 | ' | -5,013 | ' | ' | ' |
Preferred stock dividends | -7,394 | ' | ' | ' | 7,394 | ' | ' |
Issuance of stock related to warrants (shares) | ' | ' | 36,339 | ' | ' | ' | ' |
Issuance of stock related to warrants | 40 | ' | 0 | 40 | ' | ' | ' |
Ending balance (unaudited) - Value at Dec. 31, 2013 | $1,096,350 | $150,000 | $410 | $448,208 | $496,112 | ($8) | $1,628 |
Ending balance (unaudited) - Shares at Dec. 31, 2013 | ' | 6,000,000 | 41,036,787 | ' | ' | -417 | ' |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY | ' | ' | ' |
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss) | ($885) | ($781) | ($341) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income from continuing operations | $121,046 | $120,709 | $76,102 |
Adjustments to reconcile net income to net cash (used in) operating activities | ' | ' | ' |
Provision for credit losses | 19,000 | 11,500 | 28,500 |
Deferred Income Tax Expense (Benefit) | -11,599 | -3,131 | -6,682 |
Depreciation and amortization | 11,480 | 9,437 | 9,103 |
Amortiziation and accretion on securities | 22 | 38 | 78 |
Bank Owned Life Insurance (BOLI) Income | -1,917 | -2,168 | -2,095 |
Stock-based compensation expense | 20,953 | 12,018 | 7,340 |
Tax benefit from stock option exercises | 1,200 | 7,769 | 3,139 |
Excess tax benefits from stock-based compensation arrangements | -3,427 | -22,197 | -8,970 |
Loss on sale of assets | -931 | -917 | -80 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accrued interest receivable and other assets | 31,002 | -61,334 | -63,247 |
Accrued interest payable and other liabilities | 2,308 | 3,066 | 32,694 |
Net cash used in operating activities of continuing operations | 189,137 | 74,790 | 75,882 |
Net cash (used in) operating activities of discontinued operations | 13 | 54 | -29 |
Net cash used in operating activities | 189,150 | 74,844 | 75,853 |
Net cash used in investing activities of continuing operations | ' | ' | ' |
Payments to Acquire Available-for-sale Securities | -2 | -13 | -10,000 |
Maturities and calls of available-for-sale securities | 15,890 | 14,260 | 8,240 |
Principal payments received on available-for-sale securities | 18,542 | 27,000 | 42,421 |
Originations of mortgage finance loans | -51,087,328 | -51,110,692 | -27,234,509 |
Proceeds from pay-offs of mortgage finance loans | 51,478,335 | 50,015,503 | 26,348,634 |
Net (increase) decrease in loans held for investment | -1,706,505 | -1,220,626 | -890,753 |
Purchase of premises and equipment, net | -4,029 | -3,538 | -3,286 |
Proceeds from sale of foreclosed assets | 11,667 | 14,921 | 23,329 |
Cash paid for acquisition | -2,445 | 0 | -11,482 |
Net cash provided by investing activities of continuing operations | -1,275,875 | -2,263,185 | -1,727,406 |
Net cash provided by financing activities of continuing operations | ' | ' | ' |
Net increase (decrease) in deposits | 1,816,575 | 1,884,547 | 100,856 |
Proceeds from issuance of stock related to stock-based awards | -2,210 | 355 | 2,190 |
Proceeds from issuance of common stock | 0 | 86,987 | 0 |
Net proceeds from issuance of preferred stock | 144,987 | 0 | 0 |
Net increase (decrease) in other borrowings | -797,002 | 318,115 | 1,341,761 |
Excess tax benefits from stock-based compensation arrangements | 3,427 | 22,197 | 8,970 |
Net (decrease) in federal funds purchased | -124,529 | -139,070 | 128,468 |
Proceeds from issuance of subordinated notes | 0 | 111,000 | 0 |
Net cash (used in) financing activities of continuing operations | 1,034,288 | 2,284,131 | 1,582,245 |
Net increase (decrease) in cash and cash equivalents | -52,437 | 95,790 | -69,308 |
Cash and cash equivalents at beginning of period | 206,348 | 110,558 | 179,866 |
Cash and cash equivalents at end of period | 153,911 | 206,348 | 110,558 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid during the period for interest | 24,962 | 21,527 | 20,643 |
Cash paid during the period for income taxes | 77,635 | 69,095 | 32,127 |
Non-cash transactions: | ' | ' | ' |
Transfers from loans/leases to OREO and other repossessed assets | $1,331 | $3,489 | $24,327 |
Operations_and_Summary_of_Sign
Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Operations and Summary of Significant Accounting Policies [Abstract] | ' |
Operations and Summary of Significant Accounting Policies | ' |
(1) Operations and Summary of Significant Accounting Policies | |
Organization and Nature of Business | |
Texas Capital Bancshares, Inc. (“the Company”), a Delaware corporation, was incorporated in November 1996 and commenced doing business in March 1998, but did not commence banking operations until December 1998. The consolidated financial statements of the Company include the accounts of Texas Capital Bancshares, Inc. and its wholly owned subsidiary, Texas Capital Bank, N.A. (“the Bank”). The Bank currently provides commercial banking services to its customers largely in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. | |
Basis of Presentation | |
The accounting and reporting policies of Texas Capital Bancshares, Inc. conform to accounting principles generally accepted in the United States and to generally accepted practices within the banking industry. Certain prior period balances have been reclassified to conform to the current period presentation. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for possible loan losses, the fair value of stock-based compensation awards, the fair values of financial instruments and the status of contingencies are particularly susceptible to significant change in the near term. | |
Correction of an Error in the Financial Statements | |
We determined during the fourth quarter of 2013 that purchases and sales of mortgage finance loan interests that had been reported on our consolidated statements of cash flows as cash flows from operating activities should have been reported as investing activities because the related asset balances should have been reported as held for investment rather than held for sale on our consolidated balance sheets. | |
We have corrected the classification of these assets on the consolidated balance sheets to reflect them as held for investment. We have corrected the previously presented cash flows for these loans and in doing so the consolidated statements of cash flows for 2012 and 2011 were adjusted to increase net cash flows from operating activities by $1.1 billion and $885.9 million, respectively, with corresponding decreases in net cash flows from investing activities. The change does not impact our reported earnings as we do not believe any reserve for loan losses relating to the mortgage finance portfolio is necessary based upon the risk profile of the assets and the less than one basis point loss experience of the program over the last ten years. This reclassification does not change total loans or total assets on our consolidated balance sheets. We have evaluated the effect of the incorrect presentation, both qualitatively and quantitatively, and concluded that it did not materially misstate our previously issued financial statements. | |
Cash and Cash Equivalents | |
Cash equivalents include amounts due from banks and federal funds sold. | |
Securities | |
Securities are classified as trading, available-for-sale or held-to-maturity. Management classifies securities at the time of purchase and re-assesses such designation at each balance sheet date; however, transfers between categories from this re-assessment are rare. | |
Trading Account | |
Securities acquired for resale in anticipation of short-term market movements are classified as trading, with realized and unrealized gains and losses recognized in income. To date, we have not had any activity in our trading account. | |
Held-to-Maturity and Available-for-Sale | |
Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost. Debt securities not classified as held-to-maturity or trading and marketable equity securities not classified as trading are classified as available-for-sale. | |
Available-for-sale securities are stated at fair value, with the unrealized gains and losses reported in a separate component of accumulated other comprehensive income (loss), net of tax. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, or in the case of mortgage-backed securities, over the estimated life of the security. Such amortization and accretion is included in interest income from securities. Realized gains and losses and declines in value judged to be other-than-temporary are included in gain (loss) on sale of securities. The cost of securities sold is based on the specific identification method. | |
All securities are available-for-sale as of December 31, 2013 and 2012. | |
Loans | |
Loans Held for Investment | |
Loans held for investment (which include equipment leases accounted for as financing leases) are stated at the amount of unpaid principal reduced by deferred income (net of costs). Interest on loans is recognized using the simple-interest method on the daily balances of the principal amounts outstanding. Loan origination fees, net of direct loan origination costs, and commitment fees, are deferred and amortized as an adjustment to yield over the life of the loan, or over the commitment period, as applicable. | |
A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. Reserves on impaired loans are measured based on the present value of expected future cash flows discounted at the loan's effective interest rate or the fair value of the underlying collateral. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |
The accrual of interest on loans is discontinued when there is a clear indication that the borrower's cash flow may not be sufficient to meet payments as they become due, which is generally when a loan is 90 days past due. When a loan is placed on non-accrual status, all previously accrued and unpaid interest is reversed. Interest income is subsequently recognized on a cash basis as long as the remaining book balance of the asset is deemed to be collectible. If collectibility is questionable, then cash payments are applied to principal. A loan is placed back on accrual status when both principal and interest are current and it is probable that we will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement. | |
Loans held for investment includes legal ownership interests in mortgage loans that we purchase through our mortgage warehouse lending division. The ownership interests are purchased from unaffiliated mortgage originators who are seeking additional funding through sale of the undivided ownership interests to facilitate their ability to originate loans. The mortgage originator has no obligation to offer and we have no obligation to purchase these interests. The originator closes mortgage loans consistent with underwriting standards established by approved investors, and, at the time of the sale to the investor, our ownership interest and that of the originator are delivered by us to the investor selected by the originator and approved by us. We typically purchase up to a 99% ownership interest in each mortgage with the originator owning the remaining percentage. These mortgage ownership interests are held by us for an interim period, usually less than 30 days and more typically 10-20 days. Because of conditions in agreements with originators designed to reduce transaction risks, under Accounting Standards Codification 860, Transfers and Servicing of Financial Assets (“ASC 860”), the ownership interests do not qualify as participating interests. Under ASC 860, the ownership interests are deemed to be loans to the originators and payments we receive from investors are deemed to be payments made by or on behalf of the originator to repay the loan deemed made to the originator. Because we have an actual, legal ownership interest in the underlying residential mortgage loan, these interests are not extensions of credit to the originators that are secured by the mortgage loans as collateral. | |
Due to market conditions or events of default by the investor or the originator, we could be required to purchase the remaining interests in the mortgage loans and hold them beyond the expected 10-20 days. Mortgage loans acquired under these conditions could require future allocations of the allowance for loan losses or be subject to charge off in the event the loans become impaired. Mortgage loan interests purchased and disposed of as expected receive no allocation of the allowance for loan losses due to the minimal loss experience with these assets. | |
Allowance for Loan Losses | |
The allowance for loan losses is established through a provision for loan losses charged against income. The allowance for loan losses includes specific reserves for impaired loans and a general reserve for estimated losses inherent in the loan portfolio at the balance sheet date, but not yet identified with specific loans. Loans deemed to be uncollectible are charged against the allowance when management believes that the collectibility of the principal is unlikely and subsequent recoveries, if any, are credited to the allowance. Management's periodic evaluation of the adequacy of the allowance is based on an assessment of the current loan portfolio, including known inherent risks, adverse situations that may affect the borrowers' ability to repay, the estimated value of any underlying collateral and current economic conditions. | |
Other Real Estate Owned | |
Other real estate owned (“OREO”), which is included in other assets on the balance sheet, consists of real estate that has been foreclosed. Real estate that has been foreclosed is recorded at the fair value of the real estate, less selling costs, through a charge to the allowance for loan losses, if necessary. Subsequent write-downs required for declines in value are recorded through a valuation allowance, or taken directly to the asset, charged to other non-interest expense. | |
Premises and Equipment | |
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from three to ten years. Gains or losses on disposals of premises and equipment are included in results of operations. | |
Marketing and Software | |
Marketing costs are expensed as incurred. Ongoing maintenance and enhancements of websites are expensed as incurred. Costs incurred in connection with development or purchase of internal use software are capitalized and amortized over a period not to exceed five years. Internal use software costs are included in other assets in the consolidated financial statements. | |
Goodwill and Other Intangible Assets | |
Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset, or liability. Our intangible assets relate primarily to loan customer relationships. Intangible assets with definite useful lives are amortized on an accelerated basis over their estimated life. Intangible assets are tested for impairment annually or whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |
Segment Reporting | |
We have determined that all of our lending divisions and subsidiaries meet the aggregation criteria of ASC 280, Segment Reporting, since all offer similar products and services, operate with similar processes, and have similar customers. | |
Stock-based Compensation | |
We account for all stock-based compensation transactions in accordance with ASC 718, Compensation – Stock Compensation (“ASC 718”), which requires that stock compensation transactions be recognized as compensation expense in the statement of operations based on their fair values on the measurement date, which is the date of the grant. | |
Accumulated Other Comprehensive Income | |
Unrealized gains or losses on our available-for-sale securities (after applicable income tax expense or benefit) are included in accumulated other comprehensive income (loss), net. Accumulated comprehensive income (loss), net for the three years ended December 31, 2013 is reported in the accompanying consolidated statements of changes in stockholders' equity. | |
Income Taxes | |
The Company and its subsidiary file a consolidated federal income tax return. We utilize the liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based upon the difference between the values of the assets and liabilities as reflected in the financial statements and their related tax basis using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. As changes in tax law or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. A valuation reserve is provided against deferred tax assets unless it is more likely than not that such deferred tax assets will be realized. | |
Basic and Diluted Earnings Per Common Share | |
Basic earnings per common share is based on net income available to common stockholders divided by the weighted-average number of common shares outstanding during the period excluding non-vested stock. Diluted earnings per common share include the dilutive effect of stock options and non-vested stock awards granted using the treasury stock method. A reconciliation of the weighted-average shares used in calculating basic earnings per common share and the weighted average common shares used in calculating diluted earnings per common share for the reported periods is provided in Note 14 – Earnings Per Share. | |
Fair Values of Financial Instruments | |
ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. In general, fair values of financial instruments are based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. |
Securities
Securities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Securities | ' | ||||||||||||
Securities | ' | ||||||||||||
(2) Securities | |||||||||||||
The following is a summary of securities (in thousands): | |||||||||||||
31-Dec-13 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
Available-for-Sale Securities: | |||||||||||||
Residential mortgage-backed securities | $ | 38,786 | $ | 2,676 | $ | - | $ | 41,462 | |||||
Municipals | 14,401 | 104 | - | 14,505 | |||||||||
Equity securities(1) | 7,522 | - | -275 | 7,247 | |||||||||
$ | 60,709 | $ | 2,780 | $ | -275 | $ | 63,214 | ||||||
31-Dec-12 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
Available-for-Sale Securities: | |||||||||||||
Residential mortgage-backed securities | $ | 57,342 | $ | 4,239 | $ | - | $ | 61,581 | |||||
Corporate securities | 5,000 | 80 | - | 5,080 | |||||||||
Municipals | 25,300 | 594 | - | 25,894 | |||||||||
Equity securities(1) | 7,519 | 121 | - | 7,640 | |||||||||
$ | 95,161 | $ | 5,034 | $ | - | $ | 100,195 | ||||||
(1) Equity securities consist of Community Reinvestment Act funds. | |||||||||||||
The amortized cost and estimated fair value of securities are presented below by contractual maturity (in thousands, except percentage data): | |||||||||||||
31-Dec-13 | |||||||||||||
After One | After Five | ||||||||||||
Less Than | Through | Through | After Ten | ||||||||||
One Year | Five Years | Ten Years | Years | Total | |||||||||
Available-for-sale: | |||||||||||||
Residential mortgage-backed | |||||||||||||
securities:(1) | |||||||||||||
Amortized cost | $ | 238 | $ | 14,720 | $ | 7,718 | $ | 16,110 | $ | 38,786 | |||
Estimated fair value | 252 | 15,641 | 8,456 | 17,113 | 41,462 | ||||||||
Weighted average yield(3) | 4.32% | 4.78% | 5.56% | 2.40% | 3.94% | ||||||||
Municipals:(2) | |||||||||||||
Amortized cost | 7,749 | 6,652 | - | - | 14,401 | ||||||||
Estimated fair value | 7,818 | 6,687 | - | - | 14,505 | ||||||||
Weighted average yield(3) | 5.76% | 5.71% | 0.00% | - | 5.73% | ||||||||
Equity securities:(4) | |||||||||||||
Amortized cost | 7,522 | - | - | - | 7,522 | ||||||||
Estimated fair value | 7,247 | - | - | - | 7,247 | ||||||||
Total available-for-sale securities: | |||||||||||||
Amortized cost | $ | 60,709 | |||||||||||
Estimated fair value | $ | 63,214 | |||||||||||
31-Dec-12 | |||||||||||||
After One | After Five | ||||||||||||
Less Than | Through | Through | After Ten | ||||||||||
One Year | Five Years | Ten Years | Years | Total | |||||||||
Available-for-sale: | |||||||||||||
Residential mortgage-backed | |||||||||||||
securities:(1) | |||||||||||||
Amortized cost | $ | 656 | $ | 5,698 | $ | 23,111 | $ | 27,877 | $ | 57,342 | |||
Estimated fair value | 690 | 6,113 | 24,948 | 29,830 | 61,581 | ||||||||
Weighted average yield(3) | 4.20% | 5.29% | 4.86% | 3.41% | 4.19% | ||||||||
Corporate securities: | |||||||||||||
Amortized cost | - | 5,000 | - | - | 5,000 | ||||||||
Estimated fair value | - | 5,080 | - | - | 5,080 | ||||||||
Weighted average yield(3) | - | 7.38% | - | - | 7.38% | ||||||||
Municipals:(2) | |||||||||||||
Amortized cost | 6,575 | 16,448 | 2,277 | - | 25,300 | ||||||||
Estimated fair value | 6,646 | 16,895 | 2,353 | - | 25,894 | ||||||||
Weighted average yield(3) | 5.75% | 5.66% | 6.01% | - | 5.72% | ||||||||
Equity securities:(4) | |||||||||||||
Amortized cost | 7,519 | - | - | - | 7,519 | ||||||||
Estimated fair value | 7,640 | - | - | - | 7,640 | ||||||||
Total available-for-sale securities: | |||||||||||||
Amortized cost | $ | 95,161 | |||||||||||
Estimated fair value | $ | 100,195 | |||||||||||
Less Than 12 Months | 12 Months or Longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||
Equity securities | $ | 7,247 | $ | -275 | $ | - | $ | - | $ | 7,247 | $ | -275 | |
At December 31, 2013, there was one investment position in an unrealized loss position. This security is a publicly traded equity fund and is subject to market pricing volatility. We do not believe that these unrealized losses are “other than temporary.” We have evaluated the near-term prospects of the investment in relation to the severity and duration of the impairment and based on that evaluation have the ability and intent to hold the investment until recovery of fair value. We have not identified any issues related to the ultimate repayment of principal as a result of credit concerns on this security. | |||||||||||||
At December 31, 2012, we did not have any investment securities in an unrealized loss position. | |||||||||||||
Unrealized gains or losses on our available-for-sale securities (after applicable income tax expense or benefit) are included in accumulated other comprehensive income (loss), net. We had comprehensive income of $119.4 million for the year ended December 31, 2013 and comprehensive income of $119.2 million for the year ended December 31, 2012. Comprehensive income during the years ended December 31, 2013 and 2012 included a net after-tax loss of $1.6 million and $1.5 million, respectively, due to changes in the net unrealized gains/losses on securities available-for-sale. |
Loans_and_Allowance_for_Credit
Loans and Allowance for Credit Losses | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Loans and Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||
Loans and Allowance for Credit Losses | ' | ||||||||||||||||||
(3) Loans | |||||||||||||||||||
Loans held for investment are summarized by category as follows (in thousands): | |||||||||||||||||||
31-Dec | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Commercial | $ | 5,020,565 | $ | 4,106,419 | |||||||||||||||
Mortgage finance | 2,784,265 | 3,175,272 | |||||||||||||||||
Construction | 1,262,905 | 737,637 | |||||||||||||||||
Real estate | 2,146,228 | 1,892,451 | |||||||||||||||||
Consumer | 15,350 | 19,493 | |||||||||||||||||
Equipment leases | 93,160 | 69,470 | |||||||||||||||||
Gross loans held for investment | 11,322,473 | 10,000,742 | |||||||||||||||||
Deferred income (net of direct origination costs) | -51,899 | -39,935 | |||||||||||||||||
Allowance for loan losses | -87,604 | -74,337 | |||||||||||||||||
Total | $ | 11,182,970 | $ | 9,886,470 | |||||||||||||||
Commercial Loans and Leases. Our commercial loan portfolio is comprised of lines of credit for working capital and term loans and leases to finance equipment and other business assets. Our energy production loans are generally collateralized with proven reserves based on appropriate valuation standards. Our commercial loans and leases are underwritten after carefully evaluating and understanding the borrower's ability to operate profitably. Our underwriting standards are designed to promote relationship banking rather than making loans on a transaction basis. Our lines of credit typically are limited to a percentage of the value of the assets securing the line. Lines of credit and term loans typically are reviewed annually and are supported by accounts receivable, inventory, equipment and other assets of our clients' businesses. | |||||||||||||||||||
Mortgage finance loans. Our mortgage finance loans consist of ownership interests purchased in single-family residential mortgages funded through our warehouse lending group. These loans are typically on our balance sheet for 10 to 20 days or less. We have agreements with mortgage lenders and purchase interests in individual loans they originate. All loans are underwritten consistent with established programs for permanent financing with financially sound investors. Substantially all loans are conforming loans. | |||||||||||||||||||
Construction Loans. Our construction loan portfolio consists primarily of single- and multi-family residential properties and commercial projects used in manufacturing, warehousing, service or retail businesses. Our construction loans generally have terms of one to three years. We typically make construction loans to developers, builders and contractors that have an established record of successful project completion and loan repayment and have a substantial investment in the borrowers' equity. However, construction loans are generally based upon estimates of costs and value associated with the completed project. Sources of repayment for these types of loans may be pre-committed permanent loans from other lenders, sales of developed property, or an interim loan commitment from us until permanent financing is obtained. The nature of these loans makes ultimate repayment extremely sensitive to overall economic conditions. Borrowers may not be able to correct conditions of default in loans, increasing risk of exposure to classification, non-performing status, reserve allocation and actual credit loss and foreclosure. These loans typically have floating rates and commitment fees. | |||||||||||||||||||
Real Estate Loans. A portion of our real estate loan portfolio is comprised of loans secured by properties other than market risk or investment-type real estate. Market risk loans are real estate loans where the primary source of repayment is expected to come from the sale or lease of the real property collateral. We generally provide temporary financing for commercial and residential property. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Our real estate loans generally have maximum terms of five to seven years, and we provide loans with both floating and fixed rates. We generally avoid long-term loans for commercial real estate held for investment. Real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. Appraised values may be highly variable due to market conditions and the impact of the inability of potential purchasers and lessees to obtain financing and lack of transactions at comparable values. | |||||||||||||||||||
As of December 31, 2013, a substantial majority of the principal amount of the loans held for investment in our portfolio was to businesses and individuals in Texas. This geographic concentration subjects the loan portfolio to the general economic conditions within this area. The risks created by this concentration have been considered by management in the determination of the adequacy of the allowance for loan losses. Management believes the allowance for loan losses is appropriate to cover estimated losses on loans at each balance sheet date. | |||||||||||||||||||
At December 31, 2013, we had a blanket floating lien based on certain real estate loans used as collateral for FHLB borrowings. | |||||||||||||||||||
The reserve for loan losses is comprised of specific reserves for impaired loans and an estimate of losses inherent in the portfolio at the balance sheet date, but not yet identified with specified loans. We regularly evaluate our reserve for loan losses to maintain an appropriate level to absorb estimated loan losses inherent in the loan portfolio. Factors contributing to the determination of reserves include the credit worthiness of the borrower, changes in the value of pledged collateral, and general economic conditions. All loan commitments rated substandard or worse and greater than $500,000 are specifically reviewed for loss potential. For loans deemed to be impaired, a specific allocation is assigned based on the losses expected to be realized from those loans. For purposes of determining the general reserve, the portfolio is segregated by product types to recognize differing risk profiles among categories, and then further segregated by credit grades. Credit grades are assigned to all loans. Each credit grade is assigned a risk factor, or reserve allocation percentage. These risk factors are multiplied by the outstanding principal balance and risk-weighted by product type to calculate the required reserve. A similar process is employed to calculate a reserve assigned to off-balance sheet commitments, specifically unfunded loan commitments and letters of credit, and any needed reserve is recorded in other liabilities. Even though portions of the allowance may be allocated to specific loans, the entire allowance is available for any credit that, in management's judgment, should be charged off. | |||||||||||||||||||
We have several pass credit grades that are assigned to loans based on varying levels of risk, ranging from credits that are secured by cash or marketable securities, to watch credits which have all the characteristics of an acceptable credit risk but warrant more than the normal level of monitoring. Within our criticized/classified credit grades are special mention, substandard, and doubtful. Special mention loans are those that are currently protected by sound worth and paying capacity of the borrower, but that are potentially weak and constitute an additional credit risk. The loan has the potential to deteriorate to a substandard grade due to the existence of financial or administrative deficiencies. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Some substandard loans are inappropriately protected by sound worth and paying capacity of the borrower and of the collateral pledged and may be considered impaired. Substandard loans can be accruing or can be on nonaccrual depending on the circumstances of the individual loans. Loans classified as doubtful have all the weaknesses inherent in substandard loans with the added characteristics that the weaknesses make collection or liquidation in full highly questionable and improbable. The possibility of loss is extremely high. All doubtful loans are on nonaccrual. | |||||||||||||||||||
The reserve allocation percentages assigned to each credit grade have been developed based primarily on an analysis of our historical loss rates. The allocations are adjusted for certain qualitative factors for such things as general economic conditions, changes in credit policies and lending standards. Historical loss rates are adjusted to account for current environmental conditions which we believe are likely to cause loss rates to be higher or lower than past experience. Each quarter we produce an adjustment range for environmental factors unique to us and our market. Changes in the trend and severity of problem loans can cause the estimation of losses to differ from past experience. In addition, the reserve considers the results of reviews performed by independent third party reviewers as reflected in their confirmations of assigned credit grades within the portfolio. The portion of the allowance that is not derived by the allowance allocation percentages compensates for the uncertainty and complexity in estimating loan and lease losses including factors and conditions that may not be fully reflected in the determination and application of the allowance allocation percentages. We evaluate many factors and conditions in determining the unallocated portion of the allowance, including the economic and business conditions affecting key lending areas, credit quality trends and general growth in the portfolio. The allowance is considered appropriate, given management's assessment of potential losses within the portfolio as of the evaluation date, the significant growth in the loan and lease portfolio, current economic conditions in the Company's market areas and other factors. | |||||||||||||||||||
The methodology used in the periodic review of reserve adequacy, which is performed at least quarterly, is designed to be dynamic and responsive to changes in portfolio credit quality. The changes are reflected in the general reserve and in specific reserves as the collectability of larger classified loans is evaluated with new information. As our portfolio has matured, historical loss ratios have been closely monitored, and our reserve adequacy relies primarily on our loss history. Currently, the review of reserve adequacy is performed by executive management and presented to our board of directors for their review, consideration and ratification on a quarterly basis. | |||||||||||||||||||
The following tables summarize the credit risk profile of our loan portfolio by internally assigned grades and nonaccrual status as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
31-Dec-13 | Mortgage | ||||||||||||||||||
Commercial | Finance | Construction | Real Estate | Consumer | Leases | Total | |||||||||||||
Grade: | |||||||||||||||||||
Pass | $ | 4,908,944 | $ | 2,784,265 | $ | 1,261,995 | $ | 2,099,450 | $ | 15,251 | $ | 89,317 | $ | 11,159,222 | |||||
Special mention | 24,132 | - | 102 | 6,338 | - | 51 | 30,623 | ||||||||||||
Substandard-accruing | 74,593 | - | 103 | 21,770 | 45 | 3,742 | 100,253 | ||||||||||||
Non-accrual | 12,896 | - | 705 | 18,670 | 54 | 50 | 32,375 | ||||||||||||
Total loans held for investment | $ | 5,020,565 | $ | 2,784,265 | $ | 1,262,905 | $ | 2,146,228 | $ | 15,350 | $ | 93,160 | $ | 11,322,473 | |||||
31-Dec-12 | Mortgage | ||||||||||||||||||
Commercial | Finance | Construction | Real Estate | Consumer | Leases | Total | |||||||||||||
Grade: | |||||||||||||||||||
Pass | $ | 4,013,538 | $ | 3,175,272 | $ | 703,673 | $ | 1,816,027 | $ | 19,436 | $ | 68,327 | $ | 9,796,273 | |||||
Special mention | 33,137 | - | 11,957 | 12,461 | - | 919 | 58,474 | ||||||||||||
Substandard-accruing | 44,371 | - | 4,790 | 40,897 | - | 104 | 90,162 | ||||||||||||
Non-accrual | 15,373 | - | 17,217 | 23,066 | 57 | 120 | 55,833 | ||||||||||||
Total loans held for investment | $ | 4,106,419 | $ | 3,175,272 | $ | 737,637 | $ | 1,892,451 | $ | 19,493 | $ | 69,470 | $ | 10,000,742 | |||||
The following table details activity in the reserve for loan losses by portfolio segment for the years ended December 31, 2013 and 2012. Allocation of a portion of the reserve to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||
31-Dec-13 | Mortgage | ||||||||||||||||||
(in thousands) | Commercial | Finance | Construction | Real Estate | Consumer | Leases | Unallocated | Total | |||||||||||
Beginning balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Provision for loan losses | 23,693 | - | 2,456 | -6,809 | -105 | 325 | -1,395 | 18,165 | |||||||||||
Charge-offs | 6,575 | - | - | 144 | 45 | 2 | - | 6,766 | |||||||||||
Recoveries | 1,203 | - | - | 270 | 73 | 322 | - | 1,868 | |||||||||||
Net charge-offs (recoveries) | 5,372 | - | - | -126 | -28 | -320 | - | 4,898 | |||||||||||
Ending balance | $ | 39,868 | $ | - | $ | 14,553 | $ | 24,210 | $ | 149 | $ | 3,105 | $ | 5,719 | $ | 87,604 | |||
Period end amount allocated to: | |||||||||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 2,015 | $ | - | $ | - | $ | 1,143 | $ | 8 | $ | 8 | $ | - | $ | 3,174 | |||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 37,853 | - | 14,553 | 23,067 | 141 | 3,097 | 5,719 | 84,430 | |||||||||||
Ending balance | $ | 39,868 | $ | - | $ | 14,553 | $ | 24,210 | $ | 149 | $ | 3,105 | $ | 5,719 | $ | 87,604 | |||
31-Dec-12 | Mortgage | ||||||||||||||||||
(in thousands) | Commercial | Finance | Construction | Real Estate | Consumer | Leases | Unallocated | Total | |||||||||||
Beginning balance | $ | 17,337 | $ | - | $ | 7,845 | $ | 33,721 | $ | 223 | $ | 2,356 | $ | 8,813 | $ | 70,295 | |||
Provision for loan losses | 10,086 | - | 4,242 | -2,741 | 19 | 200 | -1,699 | 10,107 | |||||||||||
Charge-offs | 6,708 | - | - | 899 | 49 | 204 | - | 7,860 | |||||||||||
Recoveries | 832 | - | 10 | 812 | 33 | 108 | - | 1,795 | |||||||||||
Net charge-offs (recoveries) | 5,876 | - | -10 | 87 | 16 | 96 | - | 6,065 | |||||||||||
Ending balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Period end amount allocated to: | |||||||||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 2,983 | $ | - | $ | 14 | $ | 899 | $ | 16 | $ | 18 | $ | - | $ | 3,930 | |||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 18,564 | - | 12,083 | 29,994 | 210 | 2,442 | 7,114 | 70,407 | |||||||||||
Ending balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Our recorded investment in loans as of December 31, 2013 and 2012 related to each balance in the allowance for loan losses by portfolio segment and disaggregated on the basis of our impairment methodology was as follows (in thousands): | |||||||||||||||||||
Mortgage | |||||||||||||||||||
31-Dec-13 | Commercial | Finance | Construction | Real Estate | Consumer | Lease | Total | ||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 15,140 | $ | - | $ | 705 | $ | 24,027 | $ | 54 | $ | 50 | $ | 39,976 | |||||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 5,005,425 | 2,784,265 | 1,262,200 | 2,122,201 | 15,296 | 93,110 | 11,282,497 | ||||||||||||
Total | $ | 5,020,565 | $ | 2,784,265 | $ | 1,262,905 | $ | 2,146,228 | $ | 15,350 | $ | 93,160 | $ | 11,322,473 | |||||
Mortgage | |||||||||||||||||||
31-Dec-12 | Commercial | Finance | Construction | Real Estate | Consumer | Lease | Total | ||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 15,373 | $ | - | $ | 18,179 | $ | 32,512 | $ | 57 | $ | 120 | $ | 66,241 | |||||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 4,091,046 | 3,175,272 | 719,458 | 1,859,939 | 19,436 | 69,350 | 9,934,501 | ||||||||||||
Total | $ | 4,106,419 | $ | 3,175,272 | $ | 737,637 | $ | 1,892,451 | $ | 19,493 | $ | 69,470 | $ | 10,000,742 | |||||
We have traditionally maintained an unallocated reserve component to allow for uncertainty in economic and other conditions affecting the quality of the loan portfolio. The unallocated portion of our loan loss reserve has decreased since December 31, 2012. We believe the level of unallocated reserves at December 31, 2013 is warranted due to the continued uncertain economic environment which has produced more frequent losses, including those resulting from fraud by borrowers. Our methodology used to calculate the allowance considers historical losses, however, the historical loss rates for specific product types or credit risk grades may not fully incorporate the effects of continued weakness in the economy. | |||||||||||||||||||
Generally we place loans on non-accrual when there is a clear indication that the borrower's cash flow may not be sufficient to meet payments as they become due, which is generally when a loan is 90 days past due. When a loan is placed on non-accrual status, all previously accrued and unpaid interest is reversed. Interest income is subsequently recognized on a cash basis as long as the remaining unpaid principal amount of the loan is deemed to be fully collectible. If collectability is questionable, then cash payments are applied to principal. We recognized $2.4 million in interest income on non-accrual loans during 2013 compared to $2.6 million in 2012 and $2.2 million in 2011. Additional interest income that would have been recorded if the loans had been current during the years ended December 31, 2013, 2012 and 2011 totaled $2.5 million, $2.4 million and $5.9 million, respectively. As of December 31, 2013, none of our non-accrual loans were earning on a cash basis. A loan is placed back on accrual status when both principal and interest are current and it is probable that we will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The table below summarizes our non-accrual loans by type and purpose as of December 31, 2013 (in thousands): | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 12,896 | |||||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | ||||||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 15,607 | ||||||||||||||||||
Commercial | 508 | ||||||||||||||||||
Secured by 1-4 family | 2,555 | ||||||||||||||||||
Consumer | 54 | ||||||||||||||||||
Leases | 50 | ||||||||||||||||||
Total non-accrual loans | $ | 32,375 | |||||||||||||||||
As of December 31, 2013, non-accrual loans included in the table above included $17.8 million related to loans that met the criteria for restructured. | |||||||||||||||||||
A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. In accordance with FASB ASC 310 Receivables, we have included accruing restructured loans in our impaired loan totals. The following tables detail our impaired loans, by portfolio class as of December 31, 2013 and 2012 (in thousands) | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||
With no related allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 2,005 | $ | 2,005 | $ | - | $ | 4,265 | $ | - | |||||||||
Energy loans | 1,614 | 3,443 | - | 969 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | 705 | - | 3,111 | 114 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 13,524 | 13,524 | - | 9,796 | - | ||||||||||||||
Commercial | 508 | 508 | - | 5,458 | - | ||||||||||||||
Secured by 1-4 family | 1,320 | 1,320 | - | 2,464 | - | ||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||
Equipment leases | - | - | - | - | - | ||||||||||||||
Total impaired loans with no allowance recorded | $ | 19,676 | $ | 21,505 | $ | - | $ | 26,063 | $ | 114 | |||||||||
With an allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 11,060 | $ | 12,425 | $ | 1,946 | $ | 14,240 | $ | - | |||||||||
Energy loans | 460 | 460 | 69 | 913 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | - | - | - | 160 | - | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 6,289 | 6,289 | 822 | 7,912 | - | ||||||||||||||
Commercial | - | - | - | 477 | - | ||||||||||||||
Secured by 1-4 family | 2,387 | 2,387 | 321 | 914 | - | ||||||||||||||
Consumer | 54 | 54 | 8 | 43 | - | ||||||||||||||
Equipment leases | 50 | 50 | 8 | 72 | - | ||||||||||||||
Total impaired loans with an allowance recorded | $ | 20,300 | $ | 21,665 | $ | 3,174 | $ | 24,731 | $ | - | |||||||||
Combined: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 13,065 | $ | 14,430 | $ | 1,946 | $ | 18,505 | $ | - | |||||||||
Energy loans | 2,074 | 3,903 | 69 | 1,882 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | 705 | - | 3,271 | 114 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 19,813 | 19,813 | 822 | 17,708 | - | ||||||||||||||
Commercial | 508 | 508 | - | 5,935 | - | ||||||||||||||
Secured by 1-4 family | 3,707 | 3,707 | 321 | 3,378 | - | ||||||||||||||
Consumer | 54 | 54 | 8 | 43 | - | ||||||||||||||
Equipment leases | 50 | 50 | 8 | 72 | - | ||||||||||||||
Total impaired loans | $ | 39,976 | $ | 43,170 | $ | 3,174 | $ | 50,794 | $ | 114 | |||||||||
31-Dec-12 | |||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||
With no related allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 2,938 | $ | 2,938 | $ | - | $ | 1,409 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 17,217 | 17,217 | - | 18,571 | 677 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 9,061 | 9,061 | - | 7,944 | - | ||||||||||||||
Commercial | 6,604 | 6,604 | - | 6,451 | - | ||||||||||||||
Secured by 1-4 family | 2,632 | 2,632 | - | 1,827 | - | ||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||
Equipment leases | - | - | - | - | - | ||||||||||||||
Total impaired loans with no allowance recorded | $ | 38,452 | $ | 38,452 | $ | - | $ | 36,202 | $ | 677 | |||||||||
With an allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 12,435 | $ | 18,391 | $ | 2,983 | $ | 15,484 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 962 | 962 | 14 | 321 | - | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 11,439 | 11,439 | 535 | 11,811 | - | ||||||||||||||
Commercial | 2,013 | 2,013 | 89 | 671 | - | ||||||||||||||
Secured by 1-4 family | 763 | 763 | 275 | 1,632 | - | ||||||||||||||
Consumer | 57 | 57 | 16 | 59 | - | ||||||||||||||
Equipment leases | 120 | 120 | 18 | 182 | - | ||||||||||||||
Total impaired loans with an allowance recorded | $ | 27,789 | $ | 33,745 | $ | 3,930 | $ | 30,160 | $ | - | |||||||||
Combined: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 15,373 | $ | 21,329 | $ | 2,983 | $ | 16,893 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 18,179 | 18,179 | 14 | 18,892 | 677 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 20,500 | 20,500 | 535 | 19,755 | - | ||||||||||||||
Commercial | 8,617 | 8,617 | 89 | 7,122 | - | ||||||||||||||
Secured by 1-4 family | 3,395 | 3,395 | 275 | 3,459 | - | ||||||||||||||
Consumer | 57 | 57 | 16 | 59 | - | ||||||||||||||
Equipment leases | 120 | 120 | 18 | 182 | - | ||||||||||||||
Total impaired loans | $ | 66,241 | $ | 72,197 | $ | 3,930 | $ | 66,362 | $ | 677 | |||||||||
Average impaired loans outstanding during the years ended December 31, 2013, 2012 and 2011 totaled $40.0 million, $66.4 million and $71.0 million respectively. | |||||||||||||||||||
The table below provides an age analysis of our past due loans that are still accruing as of December 31, 2013 (in thousands): | |||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total(1) | ||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 29,946 | $ | 7,683 | $ | 7,528 | $ | 45,157 | $ | 4,027,409 | $ | 4,072,566 | |||||||
Energy | 5,239 | 1,092 | - | 6,331 | 928,772 | 935,103 | |||||||||||||
Mortgage finance loans | - | - | - | - | 2,784,265 | 2,784,265 | |||||||||||||
Construction | |||||||||||||||||||
Market risk | 1 | - | 103 | 104 | 1,245,388 | 1,245,492 | |||||||||||||
Secured by 1-4 family | - | - | - | - | 16,708 | 16,708 | |||||||||||||
Real estate | |||||||||||||||||||
Market risk | 6,013 | 3,100 | - | 9,113 | 1,623,706 | 1,632,819 | |||||||||||||
Commercial | 15,024 | - | - | 15,024 | 387,856 | 402,880 | |||||||||||||
Secured by 1-4 family | 2,607 | 266 | 1,694 | 4,567 | 87,292 | 91,859 | |||||||||||||
Consumer | 37 | 177 | - | 214 | 15,082 | 15,296 | |||||||||||||
Equipment leases | 189 | - | - | 189 | 92,921 | 93,110 | |||||||||||||
Total loans held for investment | $ | 59,056 | $ | 12,318 | $ | 9,325 | $ | 80,699 | $ | 11,209,399 | $ | 11,290,098 | |||||||
(1) Loans past due 90 days and still accruing includes premium finance loans of $3.8 million. These loans are generally secured by obligations of insurance carriers to refund premiums on cancelled insurance policies. The refund of premiums from the insurance carriers can take 180 days or longer from the cancellation date. | |||||||||||||||||||
Restructured loans are loans on which, due to the borrower's financial difficulties, we have granted a concession that we would not otherwise consider for borrowers of similar credit quality. This may include a transfer of real estate or other assets from the borrower, a modification of loan terms, or a combination of the two. Modifications of terms that could potentially qualify as a restructuring include reduction of contractual interest rate, extension of the maturity date at a contractual interest rate lower than the current rate for new debt with similar risk, or a reduction of the face amount of debt, or either forgiveness of either principal or accrued interest. As of December 31, 2013, we have $1.9 million in loans considered restructured that are not on nonaccrual. These loans do not have unfunded commitments at December 31, 2013. Of the nonaccrual loans at December 31, 2013, $17.8 million met the criteria for restructured. A loan continues to qualify as restructured until a consistent payment history or change in borrower's financial condition has been evidenced, generally no less than twelve months. Assuming that the restructuring agreement specifies an interest rate at the time of the restructuring that is greater than or equal to the rate that we are willing to accept for a new extension of credit with comparable risk, then the loan no longer has to be considered a restructuring if it is in compliance with modified terms in calendar years after the year of the restructure. | |||||||||||||||||||
The following tables summarize, as of December 31, 2013 and 2012, loans that have been restructured during 2013 and 2012 (in thousands): | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Number of Contracts | Pre-Restructuring Outstanding Recorded Investment | Post-Restructuring Outstanding Recorded Investment | |||||||||||||||||
Commercial business loans | 3 | $ | 10,823 | $ | 8,921 | ||||||||||||||
Real estate market risk | 1 | 892 | 874 | ||||||||||||||||
Total new restructured loans in 2012 | 4 | $ | 11,715 | $ | 9,795 | ||||||||||||||
31-Dec-12 | |||||||||||||||||||
Number of Contracts | Pre-Restructuring Outstanding Recorded Investment | Post-Restructuring Outstanding Recorded Investment | |||||||||||||||||
Commercial business loans | 3 | $ | 7,140 | $ | 7,103 | ||||||||||||||
Real estate market risk | 2 | 1,726 | 1,147 | ||||||||||||||||
Real estate - 1-4 family | 1 | 1,424 | 1,393 | ||||||||||||||||
Total new restructured loans in 2012 | 6 | $ | 10,290 | $ | 9,643 | ||||||||||||||
The restructured loans generally include terms to temporarily place loan on interest only, extend the payment terms or reduce the interest rate. We have not forgiven any principal on the above loans. The $1.9 million decrease in the post-restructuring recorded investment compared to the pre-restructuring recorded investment is due to $1.4 million in charge-offs and $554,000 in paydowns. At December 31, 2013, $8.1 million of the above loans restructured in 2013 are on non-accrual. The restructuring of the loans did not have a significant impact on our allowance for loan losses at December 31, 2013 or 2012. | |||||||||||||||||||
The following table provides information on how loans were modified as a restructured loan during the year ended December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
December 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Extended maturity | $ | 874 | $ | 1,913 | |||||||||||||||
Adjusted payment schedule | - | 1,393 | |||||||||||||||||
Combination of maturity extension and payment schedule adjustment | 8,921 | 6,337 | |||||||||||||||||
Total | $ | 9,795 | $ | 9,643 | |||||||||||||||
As of December 31, 2013, none of the loans that were restructured within the last 12 months have subsequently defaulted |
OREO_and_Valuation_Allowance_f
OREO and Valuation Allowance for Losses on OREO | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
OREO and Valuation Allowance for Losses on OREO [Abstract] | ' | ||||||
OREO and Valuation Allowance for Losses on OREO | ' | ||||||
(4) OREO and Valuation Allowance for Losses on OREO | |||||||
The table below presents a summary of the activity related to OREO (in thousands): | |||||||
Year ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Beginning balance | $ | 15,991 | $ | 34,077 | $ | 42,261 | |
Additions | 1,331 | 3,434 | 22,180 | ||||
Sales | -11,292 | -14,637 | -23,566 | ||||
Valuation allowance for OREO | 958 | -4,488 | -3,922 | ||||
Direct write-downs | -1,878 | -2,395 | -2,876 | ||||
Ending balance | $ | 5,110 | $ | 15,991 | $ | 34,077 |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Goodwill and Other Intangible Assets [Abstract] | ' | ||||||
Goodwill and Other Intangible Assets | ' | ||||||
(5) Goodwill and Other Intangible Assets | |||||||
In May 2013, we acquired the assets of a premium finance company and recorded a total intangible asset of $2.1 million. Of this total, $954,000 was allocated to goodwill, $554,000 to customer relationships, $457,000 to developed technology and $98,000 to trade name. The $554,00 customer relationship intangible will be amortized over 14 years, the $457,000 technology intangible will be amortized over 7 years, and the $98,000 intangible related to the trade name was determined to have an indefinite life. | |||||||
In June 2011, we acquired the assets of a premium finance company and recorded a total intangible asset of $11.5 million. Of this total, $7.2 million was allocated to goodwill, $4.1 million to customer relationships and $181,000 to trade name. The $4.1 million customer relationship intangible will be amortized over 18 years and the $181,000 intangible related to the trade name will be amortized over 5 years. | |||||||
Goodwill and other intangible assets at December 31, 2013 and 2012 are summarized as follows (in thousands): | |||||||
Gross Goodwill and Intangible Assets | Accumulated Amortization | Net Goodwill and Intangible Assets | |||||
31-Dec-13 | |||||||
Goodwill | $ | 15,370 | $ | -374 | $ | 14,996 | |
Intangible assets - customer relationships and trademarks | 9,104 | -2,814 | 6,290 | ||||
Total goodwill and intangible assets | $ | 24,474 | $ | -3,188 | $ | 21,286 | |
31-Dec-12 | |||||||
Goodwill | $ | 14,416 | $ | -374 | $ | 14,042 | |
Intangible assets - customer relationships and trademarks | 7,996 | -2,155 | 5,841 | ||||
Total goodwill and intangible assets | $ | 22,412 | $ | -2,529 | $ | 19,883 | |
Amortization expense related to intangible assets totaled $660,000 in 2013, $597,000 in 2012 and $485,000 in 2011. The estimated aggregate future amortization expense for intangible assets remaining as of December 31, 2013 is as follows (in thousands): | |||||||
2014 | $ | 699 | |||||
2015 | 598 | ||||||
2016 | 501 | ||||||
2017 | 473 | ||||||
2018 | 473 | ||||||
Thereafter | 3,546 | ||||||
$ | 6,290 |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Premises and Equipment [Abstract] | ' | ||||
Premises and Equipment | ' | ||||
(6) Premises and Equipment | |||||
Premises and equipment at December 31, 2013 and 2012 are summarized as follows (in thousands): | |||||
31-Dec | |||||
2013 | 2012 | ||||
Premises | $ | 14,113 | $ | 12,950 | |
Furniture and equipment | 28,865 | 26,478 | |||
42,978 | 39,428 | ||||
Accumulated depreciation | -31,496 | -27,983 | |||
Total premises and equipment, net | $ | 11,482 | $ | 11,445 | |
Depreciation expense for the above premises and equipment was approximately $3,992,000, $3,550,000 and $3,397,000 in 2013, 2012 and 2011, respectively. | |||||
Deposits
Deposits | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits | ' | |||||||
(7) Deposits | ||||||||
Deposits at December 31, 2013 and 2012 are as follows (in thousands): | ||||||||
2013 | 2012 | |||||||
Non-interest bearing demand deposits | $ | 3,347,567 | $ | 2,535,375 | ||||
Interest-bearing deposits | ||||||||
Transaction | 792,186 | 979,642 | ||||||
Savings | 4,414,680 | 3,170,401 | ||||||
Time | 372,639 | 426,077 | ||||||
Deposits in foreign branches | 330,307 | 329,309 | ||||||
Total interest-bearing deposits | 5,909,812 | 4,905,429 | ||||||
Total deposits | $ | 9,257,379 | $ | 7,440,804 | ||||
The scheduled maturities of interest bearing time deposits are as follows at December 31, 2013 (in thousands): | ||||||||
2014 | $ | 343,654 | ||||||
2015 | 25,599 | |||||||
2016 | 1,105 | |||||||
2017 | 2,041 | |||||||
2018 | 167 | |||||||
2019 and after | 73 | |||||||
$ | 372,639 | |||||||
At December 31, 2013 and 2012, the Bank had approximately $27,139,000 and $30,310,000, respectively, in deposits from related parties, including directors, stockholders, and their related affiliates on terms similar to those from third parties. | ||||||||
At December 31, 2013 and 2012, interest bearing time deposits, including deposits in foreign branches, of $100,000 or more were approximately $652,350,000 and $719,815,000, respectively. | ||||||||
Borrowing_Arrangements
Borrowing Arrangements | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Borrowing Arrangements [Abstract] | ' | ||||||||||
Borrowing Arrangements | ' | ||||||||||
(8) Borrowing Arrangements | |||||||||||
The following table summarizes our borrowings at December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||
2013 | 2012 | 2011 | |||||||||
Balance | Rate(3) | Balance | Rate(3) | Balance | Rate(3) | ||||||
Federal funds purchased(4) | $ | 148,650 | 0.22% | $ | 273,179 | 0.26% | $ | 412,249 | 0.27% | ||
Customer repurchase agreements(1) | 21,954 | 0.31% | 23,936 | 0.04% | 23,801 | 0.06% | |||||
FHLB borrowings(2) | 840,026 | 0.12% | 1,650,046 | 0.09% | 1,200,066 | 0.14% | |||||
Line of credit | 15,000 | 2.65% | - | - | - | - | |||||
Fed borrowings | - | - | - | - | 132,000 | 0.75% | |||||
Subordinated notes | 111,000 | 6.50% | 111,000 | 6.50% | - | - | |||||
Trust preferred subordinated debentures | 113,406 | 2.17% | 113,406 | 2.24% | 113,406 | 2.48% | |||||
Total borrowings | $ | 1,250,036 | $ | 2,171,567 | $ | 1,881,522 | |||||
Maximum outstanding at any month end | $ | 1,859,036 | $ | 2,432,945 | $ | 1,986,324 | |||||
2013 | 2012 | 2011 | |||||||||
FHLB borrowing capacity relating to loans | $ | 693,302 | $ | 267,542 | $ | 4,524 | |||||
FHLB borrowing capacity relating to securities | 8,482 | 33,204 | 15,909 | ||||||||
Total FHLB borrowing capacity | $ | 701,784 | $ | 300,746 | $ | 20,433 | |||||
Unused federal funds lines available from commercial banks | $ | 890,000 | $ | 706,000 | $ | 390,720 | |||||
Within One Year | After One But Within Three Years | After Three But Within Five Years | After Five Years | Total | |||||||
Federal funds purchased(1) | $ | 148,650 | $ | - | $ | - | $ | - | $ | 148,650 | |
Customer repurchase agreements(1) | 21,954 | - | - | - | 21,954 | ||||||
FHLB borrowings(1) | 840,000 | 26 | - | - | 840,026 | ||||||
Line of credit | 15,000 | - | - | - | 15,000 | ||||||
Subordinated notes(1) | - | - | - | 111,000 | 111,000 | ||||||
Trust preferred subordinated debentures(1) | - | - | - | 113,406 | 113,406 | ||||||
Total borrowings | $ | 1,025,604 | $ | 26 | $ | - | $ | 224,406 | $ | 1,250,036 | |
(1) Excludes interest. | |||||||||||
Trust_Preferred_Subordinated_D
Trust Preferred Subordinated Debentures | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Trust Preferred Subordinated Debentures [Abstract] | ' | ||||||
Trust Preferred Subordinated Debentures | ' | ||||||
(9) Long-Term Debt | |||||||
From November 2002 to September 2006 various Texas Capital Statutory Trusts were created and subsequently issued floating rate trust preferred securities in various private offerings totaling $113.4 million. As of December 31, 2013, the details of the trust preferred subordinated debentures are summarized below (in thousands): | |||||||
Texas Capital Bancshares Statutory Trust I | Texas Capital Statutory Trust II | Texas Capital Statutory Trust III | Texas Capital Statutory Trust IV | Texas Capital Statutory Trust V | |||
Date issued | 19-Nov-02 | 10-Apr-03 | 6-Oct-05 | 28-Apr-06 | 29-Sep-06 | ||
Trust preferred securities issued | $10,310 | $10,310 | $25,774 | $25,774 | $41,238 | ||
Floating or fixed rate securities | Floating | Floating | Floating | Floating | Floating | ||
Interest rate on subordinated debentures | 3 month LIBOR + 3.35% | 3 month LIBOR + 3.25% | 3 month LIBOR + 1.51% | 3 month LIBOR + 1.60% | 3 month LIBOR + 1.71% | ||
Maturity date | Nov-32 | Apr-33 | Dec-35 | Jun-36 | Dec-36 | ||
On September 21, 2012, we issued $111.0 million of subordinated notes. The notes mature in September 2042 and bear interest at a rate of 6.50% per annum, payable quarterly. The indenture governing the notes contains customary covenants and restrictions. | |||||||
Interest payments on all long-term debt are deductible for federal income tax purposes. | |||||||
Because our bank had less than $15.0 billion in total consolidated assets as of December 31, 2009, we are allowed to continue to classify our trust preferred securities, all of which were issued prior to May 19, 2010, as Tier 1 capital. | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Income Taxes | ' | |||||||
(10) Income Taxes | ||||||||
We have a gross deferred tax asset of $60.2 million and $51.1 million at December 31, 2013 and 2012, respectively, which relates primarily to our allowance for loan losses, loan origination fees and stock compensation. Management believes it is more likely than not that all of the deferred tax assets will be realized. Our net deferred tax asset is included in other assets in the consolidated balance sheet. | ||||||||
Income tax expense/(benefit) consists of the following for the years ended (in thousands): | ||||||||
Year ended December 31 | ||||||||
2013 | 2012 | 2011 | ||||||
Current: | ||||||||
Federal | $ | 76,481 | $ | 69,092 | $ | 47,799 | ||
State | 1,878 | 1,885 | 1,183 | |||||
Total | $ | 78,359 | $ | 70,977 | $ | 48,982 | ||
Deferred | ||||||||
Federal | $ | -11,599 | $ | -3,131 | $ | -6,927 | ||
State | - | - | 245 | |||||
Total | $ | -11,599 | $ | -3,131 | $ | -6,682 | ||
Total expense | ||||||||
Federal | $ | 64,882 | $ | 65,961 | $ | 40,872 | ||
State | 1,878 | 1,885 | 1,428 | |||||
Total | $ | 66,760 | $ | 67,846 | $ | 42,300 | ||
The following table shows the breakdown of total income tax expense for continuing operations and discontinued operations for the years ended December 31, 2013, 2012 and 2011 (in thousands): | ||||||||
2013 | 2012 | 2011 | ||||||
Total expense (benefit): | ||||||||
From continuing operations | $ | 66,757 | $ | 67,866 | $ | 42,366 | ||
From discontinued operations | 3 | -20 | -66 | |||||
Total | $ | 66,760 | $ | 67,846 | $ | 42,300 | ||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred tax assets and liabilities are as follows (in thousands): | ||||||||
31-Dec | ||||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for credit losses | $ | 32,752 | $ | 27,725 | ||||
Loan origination fees | 11,580 | 8,991 | ||||||
Stock compensation | 10,786 | 5,777 | ||||||
Mark to market on mortgage loans | 220 | 245 | ||||||
Reserve for potential mortgage loan repurchases | 20 | 20 | ||||||
Non-accrual interest | 1,907 | 2,739 | ||||||
Deferred lease expense | 1,316 | 957 | ||||||
OREO valuation allowance | 499 | 3,168 | ||||||
Other | 1,157 | 1,452 | ||||||
Total deferred tax assets | 60,237 | 51,074 | ||||||
Deferred tax liabilities: | ||||||||
Loan origination costs | -1,048 | -1,113 | ||||||
Leases | -6,587 | -9,077 | ||||||
Depreciation | -1,183 | -1,077 | ||||||
Unrealized gain on securities | -877 | -1,762 | ||||||
Other | -1,819 | -1,769 | ||||||
Total deferred tax liabilities | -11,514 | -14,798 | ||||||
Net deferred tax asset | $ | 48,723 | $ | 36,276 | ||||
ASC 740-10, Income Taxes – Accounting for Uncertainties in Income Taxes (“ASC 740-10”) prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of cumulative benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC 740-10 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. | ||||||||
We file income tax returns in the U.S. federal jurisdiction and several U.S. state jurisdictions. We are no longer subject to U.S. federal income tax examinations by tax authorities for years before 2011. | ||||||||
The reconciliation of income attributable to continuing operations computed at the U.S. federal statutory tax rates to income tax expense (benefit) is as follows: | ||||||||
Year ended December 31 | ||||||||
2013 | 2012 | 2011 | ||||||
Tax at U.S. statutory rate | 35% | 35% | 35% | |||||
State taxes | 1% | 1% | 1% | |||||
Non-deductible expenses | 1% | 1% | 1% | |||||
Non-taxable income | -1% | -1% | -1% | |||||
Total | 36% | 36% | 36% |
Employee_Benefits
Employee Benefits | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Employee Benefits [Abstract] | ' | |||||||||||||
Employee Benefits | ' | |||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Risk-free rate | 1.17% | 0.76% | 1.83% | |||||||||||
Market price volatility factor | 0.409 | 0.404 | 0.414 | |||||||||||
Weighted-average expected life of options | 5 years | 5 years | 5 years | |||||||||||
Market price volatility and expected life of options is based on historical data and other factors. | ||||||||||||||
A summary of our stock option activity and related information for 2013, 2012 and 2011 is as follows: | ||||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||
Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | |||||||||
Options outstanding at beginning of year | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | 943,820 | $ | 12.62 | |||||
Options exercised | -119,162 | 11.14 | -391,348 | 12.74 | -374,410 | 12 | ||||||||
Options forfeited | - | - | -4,000 | 19.37 | - | - | ||||||||
Options outstanding at year-end | 54,900 | $ | 18.65 | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | |||||
Options vested and exercisable at year-end | 54,900 | $ | 18.65 | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | |||||
Intrinsic value of options vested and exercisable | $ | 2,391,014 | $ | 5,450,620 | $ | 10,015,721 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
options vested and exercisable (in years) | 0.97 | 1.15 | 2.06 | |||||||||||
Intrinsic value of options exercised | $ | 4,176,787 | $ | 10,246,387 | $ | 5,496,861 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
options currently outstanding (in years) | 0.97 | 1.15 | 2.06 | |||||||||||
There was no expense related to stock option awards in 2013, 2012 and 2011. No stock options were granted in 2013, 2012 or 2011. | ||||||||||||||
In connection with the 2005 Long-term Incentive Plan, stock appreciation rights were issued in 2013, 2012 and 2011. These rights are service-based and generally vest over a period of five years. | ||||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||
SARs | Weighted Average Exercise Price | SARs / PSARs | Weighted Average Exercise Price | SARs / PSARs | Weighted Average Exercise Price | |||||||||
SARs outstanding at beginning of year | 640,220 | $ | 20.9 | 983,700 | $ | 19.56 | 1,213,257 | $ | 19.42 | |||||
SARs granted | 53,500 | 43.73 | 36,000 | 44.94 | 33,000 | 24.7 | ||||||||
SARs exercised | -134,271 | 19.21 | -345,480 | 19.44 | -236,610 | 19.86 | ||||||||
SARs forfeited | -22,300 | 18.99 | -34,000 | 24.79 | -25,947 | 16.56 | ||||||||
SARs outstanding at year-end | 537,149 | $ | 23.68 | 640,220 | $ | 20.9 | 983,700 | $ | 19.56 | |||||
SARs vested and exercisable at year-end | 384,974 | $ | 20.64 | 446,970 | $ | 20.41 | 687,175 | $ | 20.29 | |||||
Weighted average remaining contractual life of | ||||||||||||||
SARs vested | 3.46 | 4.25 | 5.24 | |||||||||||
Compensation expense | $ | 564,000 | $ | 704,000 | $ | 1,272,000 | ||||||||
Weighted average fair value of SARs granted | ||||||||||||||
during 2013, 2012 and 2011 (in years) | $ | 16.26 | $ | 16.21 | $ | 9.54 | ||||||||
Fair value of shares vested during the year | $ | 566,341 | $ | 758,543 | $ | 1,612,435 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
SARs currently outstanding (in years) | 4.68 | 5.19 | 5.95 | |||||||||||
As of December 31, 2013, 2012 and 2011, the intrinsic value of SARs vested was $16.0 million, $10.9 million and $7.1 million, respectively. As of December 31, 2011 the intrinsic value of SARs vested was negative as the December 31, 2011 market prices were lower than the grant price of the SARs. | ||||||||||||||
The following table summarizes the status of and changes in our nonvested restricted stock units: | ||||||||||||||
Non-Vested Stock Awards Outstanding | ||||||||||||||
Number of Shares | Weighted-Average Grant-Date Fair Value | |||||||||||||
Balance, January 1, 2011 | 897,351 | $ | 14.64 | |||||||||||
Granted | 165,891 | 24.77 | ||||||||||||
Vested and issued | -364,065 | 16.07 | ||||||||||||
Forfeited | -37,685 | 18.7 | ||||||||||||
Balance, December 31, 2011 | 661,492 | 17.44 | ||||||||||||
Granted | 105,000 | 39.89 | ||||||||||||
Vested and issued | -311,410 | 18.82 | ||||||||||||
Forfeited | -43,163 | 25.25 | ||||||||||||
Balance, December 31, 2012 | 411,919 | 23.8 | ||||||||||||
Granted | 163,500 | 45.35 | ||||||||||||
Vested and issued | -151,480 | 20.47 | ||||||||||||
Forfeited | -20,200 | 24.96 | ||||||||||||
Balance, December 31, 2013 | 403,739 | $ | 33.72 | |||||||||||
The RSUs granted during 2013, 2012 and 2011 vest over four to five years. Compensation cost for restricted stock units was $3,551,000, $4,875,000, $6,068,000 for years ended December 31, 2013, 2012 and 2011, respectively. The weighted average remaining contractual life of RSUs currently outstanding is 8.20 years. | ||||||||||||||
Total compensation cost for all share-based arrangements, net of taxes, was $2,677,000, $3,626,000 and $4,771,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Unrecognized stock-based compensation expense related to SAR grants issued through December 31, 2013 was $1.5 million. At December 31, 2013, the weighted average period over which this unrecognized expense was expected to be recognized was 3.6 years. Unrecognized stock-based compensation expense related to RSU grants through December 31, 2013 was $11.6 million. At December 31, 2013, the weighted average period over which this unrecognized expense was expected to be recognized was 3.7 years. | ||||||||||||||
Cash flows from financing activities included $3,427,000, $22,197,000 and $8,970,000 in cash inflows from excess tax benefits related to stock compensation in 2013, 2012 and 2011, respectively. The tax benefit realized from stock options exercised is $1,200,000, $7,769,000 and $3,139,000 in 2013, 2012 and 2011, respectively. | ||||||||||||||
Upon share option exercise, new shares are issued as opposed to treasury shares. | ||||||||||||||
In connection with the 2010 Long-term Incentive Plan, a total of 173,035, 344,127 and 217,337 cash-based performance units were issued in 2013, 2012 and 2011, with a total of 616,620 outstanding at December 31, 2013. Of the outstanding units at December 31, 2013, 309,202 are service-based and vest over a period of five years. Additionally, 307,418 units contain both service and performance based vesting requirements: 25-40% of the units will vest on the third anniversary of the date of grant, and the balance will vest based on attainment of certain performance metrics developed by our Board of Directors' Human Resources Committee. Since these units have a cash payout feature, they are accounted for under the liability method and the related expense is based on the stock price at period end. Compensation cost for the units was $17,287,000, $6,440,000 and $522,000 for the years ended December 31, 2013, 2012, and 2011 respectively. At December 31, 2013, the weighted average remaining contractual life of the units was 8.13 years. Of the $17,287,000 compensation costs for 2013, approximately $4,618,000 related to a charge taken to reflect the financial effect of the planned organization changed announced during the second quarter of 2013 related to the retirement and transition of our CEO. | ||||||||||||||
Total compensation cost for all cash-based arrangements, net of taxes, for the years ended December 31, 2013, 2012 and 2011 was $11,237,000, $4,186,000 and $339,000, respectively. |
Financial_Instruments_with_Off
Financial Instruments with Off-Balance Sheet Risk | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ' | ||||
Financial Instruments with Off-Balance Sheet Risk | ' | ||||
(12) Financial Instruments with Off-Balance Sheet Risk | |||||
The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit that involve varying degrees of credit risk in excess of the amount recognized in the consolidated balance sheets. The Bank's exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The amount of collateral obtained, if deemed necessary, is based on management's credit evaluation of the borrower. | |||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer's credit-worthiness on a case-by-case basis. | |||||
Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. | |||||
At December 31, 2013 and 2012, commitments to extend credit and standby and commercial letters of credit were as follows (in thousands): | |||||
31-Dec | |||||
2013 | 2012 | ||||
Commitments to extend credit | $ | 3,674,391 | $ | 2,648,454 | |
Standby letters of credit | 145,662 | 83,429 |
Regulatory_Restrictions
Regulatory Restrictions | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Regulatory Restrictions [Abstract] | ' | ||||||||||
Regulatory Restrictions | ' | ||||||||||
(13) Regulatory Restrictions | |||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory (and possibly additional discretionary) actions by regulators that, if undertaken, could have a direct material effect on the Company's and the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company's and the Bank's assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company's and the Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. | |||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets, each as defined in the regulations. Management believes, as of December 31, 2013, that the Company and the Bank meet all capital adequacy requirements to which they are subject. | |||||||||||
Financial institutions are categorized as well capitalized or adequately capitalized, based on minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the tables below. As shown in the table below, the Company's capital ratios exceed the regulatory definition of adequately capitalized as of December 31, 2013 and 2012. Based upon the information in its most recently filed call report, the Bank meets the capital ratios necessary to be well capitalized. The regulatory authorities can apply changes in classification of assets and such change may retroactively subject the Company to change in capital ratios. Any such change could result in reducing one or more capital ratios below well-capitalized status. In addition, a change may result in imposition of additional assessments by the FDIC or could result in regulatory actions that could have a material effect on condition and results of operations. | |||||||||||
In response to supplemental FFIEC Call Report instructions issued in early April 2013, we began using a 100% risk weight for the mortgage finance loans with our March 31, 2013 Call Report and Form 10-Q. In previous filings, we applied a 50% risk weight (or 20% risk weight for government-guaranteed loans) to these assets for purposes of calculating the Bank's risk-based capital ratios. Having determined that the 100% risk weight must be applied under our current program we were required to amend our year-end Call Reports for 2012 and 2011. This change required application of the 100% risk weight to our mortgage finance loans in these earlier periods, which is consistent with all of our 2013 Call Reports. The amendment of Call Reports had no impact on our consolidated balance sheet or statements of operations, stockholders' equity and cash flows. | |||||||||||
This retroactive change in risk weighting of our mortgage finance loans required that we amend the previously reported values for our risk-weighted capital ratios for December 31, 2012 and 2011. See below for amended December 31, 2012 and 2011 risk-weighted capital ratios. These amended ratios exceed levels required to be “adequately capitalized” on a consolidated basis and at the Bank. As amended, the Bank was “well capitalized” in the Tier 1 measure of capital adequacy, but the total risk-based capital ratio was below that required to be considered “well capitalized”. The adjustment had no impact on the ratio of tangible common equity to total assets. We believe that we had the financial and operational capacity to maintain well-capitalized status had we determined that the higher risk weighting was required to be applied to our ownership interests in mortgage finance loans at year-end 2012 and 2011. | |||||||||||
Incidental to the amended Call Reports described above, we were assessed an additional $3.0 million for deposit insurance by the FDIC that was paid during the third quarter of 2013. | |||||||||||
Because our bank had less than $15.0 billion in total consolidated assets as of December 31, 2009, we are allowed to continue to classify our trust preferred securities, all of which were issued prior to May 19, 2010, as Tier 1 capital. | |||||||||||
Actual | For Capital Adequacy Purposes | To Be Well Capitalized Under Prompt Corrective Action Provisions | |||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||
As of December 31, 2013: | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,387,312 | 10.73% | $ | 1,034,721 | 8.00% | N/A | N/A | |||
Bank | 1,328,227 | 10.27% | 1,034,406 | 8.00% | $ | 1,293,007 | 10.00% | ||||
Tier 1 capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,184,018 | 9.15% | $ | 517,361 | 4.00% | N/A | N/A | |||
Bank | 975,933 | 7.55% | 517,203 | 4.00% | $ | 775,804 | 6.00% | ||||
Tier 1 capital (to average assets): | |||||||||||
Company | $ | 1,184,018 | 10.87% | $ | 435,750 | 4.00% | N/A | N/A | |||
Bank | 975,933 | 8.96% | 435,601 | 4.00% | $ | 544,502 | 5.00% | ||||
As of December 31, 2012: | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,112,924 | 9.97% | $ | 893,231 | 8.00% | N/A | N/A | |||
Bank | 948,328 | 8.50% | 892,806 | 8.00% | $ | 1,116,008 | 10.00% | ||||
Tier 1 capital (to risk-weighted assets): | |||||||||||
Company | $ | 923,677 | 8.27% | $ | 446,616 | 4.00% | N/A | N/A | |||
Bank | 800,081 | 7.17% | 446,403 | 4.00% | $ | 669,605 | 6.00% | ||||
Tier 1 capital (to average assets): | |||||||||||
Company | $ | 923,677 | 9.41% | $ | 392,649 | 4.00% | N/A | N/A | |||
Bank | 800,081 | 8.16% | 392,433 | 4.00% | $ | 490,541 | 5.00% | ||||
Dividends that may be paid by subsidiary banks are routinely restricted by various regulatory authorities. The amount that can be paid in any calendar year without prior approval of the Bank's regulatory agencies cannot exceed the lesser of net profits (as defined) for that year plus the net profits for the preceding two calendar years, or retained earnings. The Basel III Capital Rules, effective for us on January 1, 2015, will further limit the amount of dividends that be paid by our bank. No dividends were declared or paid on common stock during 2013, 2012 or 2011. | |||||||||||
The required reserve balances at the Federal Reserve at December 31, 2013 and 2012 were approximately $51,692,000 and $33,141,000, respectively. | |||||||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Earnings Per Share | ' | |||||||||
(14) Earnings Per Share | ||||||||||
The following table presents the computation of basic and diluted earnings per share (in thousands except share data): | ||||||||||
Year ended December | ||||||||||
2013 | 2012 | 2011 | ||||||||
Numerator: | ||||||||||
Net income from continuing operations | $ | 121,046 | $ | 120,709 | $ | 76,102 | ||||
Preferred stock dividends | 7,394 | - | - | |||||||
Net income from continuing operations available to common shareholders | 113,652 | 120,709 | 76,102 | |||||||
Gain (loss) from discontinued operations | 5 | -37 | -126 | |||||||
Net income | $ | 113,657 | $ | 120,672 | $ | 75,976 | ||||
Denominator: | ||||||||||
Denominator for basic earnings per share - weighted average shares | 40,864,225 | 39,046,340 | 37,334,743 | |||||||
Effect of employee stock-based awards(1) | 402,593 | 645,771 | 682,694 | |||||||
Effect of warrants to purchase common stock | 513,063 | 473,736 | 315,640 | |||||||
Denominator for dilutive earnings per share - adjusted weighted average | ||||||||||
shares and assumed conversions | 41,779,881 | 40,165,847 | 38,333,077 | |||||||
Basic earnings per common share from continuing operations | $ | 2.78 | $ | 3.09 | $ | 2.04 | ||||
Basic earnings per common share | $ | 2.78 | $ | 3.09 | $ | 2.03 | ||||
Diluted earnings per share from continuing operations | $ | 2.72 | $ | 3.01 | $ | 1.99 | ||||
Diluted earnings per common share | $ | 2.72 | $ | 3 | $ | 1.98 | ||||
(1) SARs and RSUs outstanding of 118,500, 79,500 and 98,000 in 2013, 2012 and 2011, respectively, have not been included in diluted earnings per share because to do so would have been antidilutive for the periods presented. Stock options are antidilutive when the exercise price is higher than the average market price of the Company's common stock. | ||||||||||
Fair_Value_Disclosures
Fair Value Disclosures | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||
Fair Value Disclosures | ' | |||||||||
(15) Fair Value Disclosures | ||||||||||
ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal market for the asset or liability in an orderly transaction between market participants on the measurement date. The adoption of ASC 820 did not have an impact on our financial statements except for the expanded disclosures noted below. | ||||||||||
We determine the fair market values of our financial instruments based on the fair value hierarchy. The standard describes three levels of inputs that may be used to measure fair value as provided below. | ||||||||||
Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets include U.S. Treasuries that are highly liquid and are actively traded in over-the-counter markets. | ||||||||||
Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; 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 2 assets include U.S. government and agency mortgage-backed debt securities, corporate securities, municipal bonds, and Community Reinvestment Act funds. This category includes derivative assets and liabilities where values are obtained from independent pricing services. | ||||||||||
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. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair values requires significant management judgment or estimation. This category also includes impaired loans and OREO where collateral values have been based on third party appraisals; however, due to current economic conditions, comparative sales data typically used in appraisals may be unavailable or more subjective due to lack of market activity. | ||||||||||
Assets and liabilities measured at fair value at December 31, 2013 and 2012 are as follows (in thousands): | ||||||||||
31-Dec-13 | Fair Value Measurements Using | |||||||||
Level 1 | Level 2 | Level 3 | ||||||||
Available for sale securities:(1) | ||||||||||
Mortgage-backed securities | $ | - | $ | 41,462 | $ | - | ||||
Municipals | - | 14,505 | - | |||||||
Equity securities | - | 7,247 | - | |||||||
Loans(2) (4) | - | - | 13,474 | |||||||
OREO(3) (4) | - | - | 5,110 | |||||||
Derivative asset(5) | - | 9,317 | - | |||||||
Derivative liability(5) | - | -9,317 | - | |||||||
31-Dec-12 | Fair Value Measurements Using | |||||||||
Level 1 | Level 2 | Level 3 | ||||||||
Available for sale securities:(1) | ||||||||||
Mortgage-backed securities | $ | - | $ | 61,581 | $ | - | ||||
Corporate securities | - | 5,080 | - | |||||||
Municipals | - | 25,894 | - | |||||||
Equity securities | - | 7,640 | - | |||||||
Loans(2) (4) | - | - | 11,639 | |||||||
OREO(3) (4) | - | - | 15,991 | |||||||
Derivative asset(5) | - | 28,473 | - | |||||||
Derivative liability(5) | - | -28,473 | - | |||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Carrying | Estimated | Carrying | Estimated | |||||||
Amount | Fair Value | Amount | Fair Value | |||||||
Cash and cash equivalents | $ | 153,911 | $ | 153,911 | $ | 206,348 | $ | 206,348 | ||
Securities, available-for-sale | 63,214 | 63,214 | 100,195 | 100,195 | ||||||
Loans held for sale from discontinued operations | 294 | 294 | 302 | 302 | ||||||
Loans held for investment, net | 11,182,970 | 11,179,145 | 9,886,470 | 9,889,303 | ||||||
Derivative asset | 9,317 | 9,317 | 28,473 | 28,473 | ||||||
Deposits | 9,257,379 | 9,257,574 | 7,440,804 | 7,441,240 | ||||||
Federal funds purchased | 148,650 | 148,650 | 273,179 | 273,179 | ||||||
Other borrowings | 876,980 | 861,981 | 1,673,982 | 1,673,983 | ||||||
Subordinated notes | 111,000 | 96,647 | 111,000 | 112,757 | ||||||
Trust preferred subordinated debentures | 113,406 | 113,406 | 113,406 | 113,406 | ||||||
Derivative liability | 9,317 | 9,317 | 28,473 | 28,473 | ||||||
The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: | ||||||||||
Cash and cash equivalents | ||||||||||
The carrying amounts reported in the consolidated balance sheet for cash and cash equivalents approximate their fair value, which is characterized as a Level 1 asset in the fair value hierarchy. | ||||||||||
Securities | ||||||||||
The fair value of investment securities is based on prices obtained from independent pricing services which are based on quoted market prices for the same or similar securities, which is characterized as a Level 2 asset in the fair value hierarchy. We have obtained documentation from the primary pricing service we use about their processes and controls over pricing. In addition, on a quarterly basis we independently verify the prices that we receive from the service provider using two additional independent pricing sources. Any significant differences are investigated and resolved. | ||||||||||
Loans, net | ||||||||||
Loans are characterized as Level 3 assets in the fair value hierarchy. For variable-rate loans that reprice frequently with no significant change in credit risk, fair values are generally based on carrying values. The fair value for all other loans is estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest approximates its fair value. The carrying amount of mortgage finance loans approximates fair value. | ||||||||||
Derivatives | ||||||||||
The estimated fair value of the interest rate swaps are obtained from independent pricing services based on quote market prices for the same or similar derivative contracts and are characterized as a Level 2 asset in the fair value hierarchy. On a quarterly basis, we independently verify the fair value using an additional independent pricing source. | ||||||||||
Deposits | ||||||||||
Deposits are characterized as Level 3 liabilities in the fair value hierarchy. The carrying amounts for variable-rate money market accounts approximate their fair value. Fixed-term certificates of deposit fair values are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities. | ||||||||||
Federal funds purchased, other borrowings, subordinated notes and trust preferred subordinated debentures | ||||||||||
The carrying value reported in the consolidated balance sheet for Federal funds purchased and other short-term, floating rate borrowings approximates their fair value, which is characterized as a Level 1 asset in the fair value hierarchy. The fair value of any fixed rate short-term borrowings and trust preferred subordinated debentures are estimated using a discounted cash flow calculation that applies interest rates currently being offered on similar borrowings, which is characterized as a Level 3 liability in the fair value hierarchy. The subordinated notes are publicly traded and are valued based on market prices, which is characterized as a Level 2 liability in the fair value hierarchy. | ||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments and Contingencies [Abstract] | ' | ||
Commitments and Contingencies | ' | ||
(16) Commitments and Contingencies | |||
We lease various premises under operating leases with various expiration dates ranging from March 2013 through May 2024. Rent expense incurred under operating leases amounted to approximately $10,216,000, $8,993,000 and $7,982,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||
Minimum future lease payments under operating leases are as follows (in thousands): | |||
Year ending December 31, | Minimum Payments | ||
2014 | $ | 13,483 | |
2015 | 14,136 | ||
2016 | 14,085 | ||
2017 | 14,038 | ||
2018 | 13,960 | ||
2019 and thereafter | 62,335 | ||
$ | 132,037 |
Parent_Company_Only
Parent Company Only | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Parent Company Only [Abstract] | ' | |||||||
Parent Company Only | ' | |||||||
(17) Parent Company Only | ||||||||
Summarized financial information for Texas Capital Bancshares, Inc. – Parent Company Only follows (in thousands): | ||||||||
Balance Sheet | 31-Dec | |||||||
2013 | 2012 | |||||||
Assets | ||||||||
Cash and cash equivalents | $ | 47,605 | $ | 141,257 | ||||
Investment in subsidiaries | 1,011,823 | 836,204 | ||||||
Other assets | 287,734 | 94,121 | ||||||
Total assets | $ | 1,347,162 | $ | 1,071,582 | ||||
Liabilities and Stockholders' Equity | ||||||||
Other liabilities | $ | 1,254 | $ | 782 | ||||
Line of credit | 15,000 | - | ||||||
Subordinated notes | 111,000 | 111,000 | ||||||
Trust preferred subordinated debentures | 113,406 | 113,406 | ||||||
Total liabilities | 240,660 | 225,188 | ||||||
Preferred stock | 150,000 | - | ||||||
Common stock | 410 | 407 | ||||||
Additional paid-in capital | 458,360 | 460,268 | ||||||
Retained earnings | 496,112 | 382,455 | ||||||
Treasury stock | -8 | -8 | ||||||
Accumulated other comprehensive income | 1,628 | 3,272 | ||||||
Total stockholders' equity | 1,106,502 | 846,394 | ||||||
Total liabilities and stockholders' equity | $ | 1,347,162 | $ | 1,071,582 | ||||
- | ||||||||
Statement of Earnings | Year ended December 31 | |||||||
2013 | 2012 | 2011 | ||||||
Loan income | $ | 10,382 | $ | 1,484 | $ | - | ||
Dividend income | 76 | 83 | 77 | |||||
Other income | 72 | 38 | 72 | |||||
Total income | 10,530 | 1,605 | 149 | |||||
Interest expense | 9,863 | 4,913 | 2,573 | |||||
Salaries and employee benefits | 669 | 668 | 618 | |||||
Legal and professional | 2,605 | 2,094 | 1,919 | |||||
Other non-interest expense | 651 | 744 | 450 | |||||
Total expense | 13,788 | 8,419 | 5,560 | |||||
Loss before income taxes and equity in undistributed income of subsidiary | -3,258 | -6,814 | -5,411 | |||||
Income tax benefit | -1,165 | -2,435 | -1,887 | |||||
Loss before equity in undistributed income of subsidiary | -2,093 | -4,379 | -3,524 | |||||
Equity in undistributed income of subsidiary | 123,144 | 124,951 | 79,500 | |||||
Net income | 121,051 | 120,572 | 75,976 | |||||
Preferred stock dividends | 7,394 | - | - | |||||
Net income available to common shareholders | $ | 113,657 | $ | 120,572 | $ | 75,976 | ||
Statements of Cash Flows | Year ended December 31 | |||||||
2013 | 2012 | 2011 | ||||||
(in thousands) | ||||||||
Operating Activities | ||||||||
Net income | $ | 121,051 | $ | 120,572 | $ | 75,976 | ||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
Equity in undistributed income of subsidiary | -123,144 | -124,951 | -79,500 | |||||
Increase in other assets | -3,613 | -11,562 | -3,747 | |||||
Tax benefit from stock option exercises | 1,200 | 7,769 | 3,139 | |||||
Excess tax benefits from stock-based compensation arrangements | -3,427 | -22,197 | -8,970 | |||||
Increase (decrease) in other liabilities | 37 | 83 | 262 | |||||
Net cash used in operating activities of continuing operations | -7,896 | -30,286 | -12,840 | |||||
Investing Activity | ||||||||
Investment in subsidiaries | -240,000 | -70,000 | -66,000 | |||||
Net cash used in investing activity | -240,000 | -70,000 | -66,000 | |||||
Financing Activities | ||||||||
Proceeds from sale of stock related to stock-based awards | -2,210 | 355 | 2,190 | |||||
Proceeds from sale of stock | - | 86,987 | - | |||||
Proceeds from issuance of preferred stock | 144,987 | - | - | |||||
Preferred dividends paid | -6,960 | - | - | |||||
Issuance of subordinated notes | - | 111,000 | - | |||||
Net other borrowings | 15,000 | - | - | |||||
Excess tax benefits from stock-based compensation arrangements | 3,427 | 22,197 | 8,970 | |||||
Net cash provided by financing activities | 154,244 | 220,539 | 11,160 | |||||
Net increase (decrease) in cash and cash equivalents | -93,652 | 120,253 | -67,680 | |||||
Cash and cash equivalents at beginning of year | 141,257 | 21,004 | 88,684 | |||||
Cash and cash equivalents at end of year | $ | 47,605 | $ | 141,257 | $ | 21,004 |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
(18) Related Party Transactions | |
See Note 7 for a description of deposits with related parties. | |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Discontinued Operations [Abstract] | ' | ||||||
Discontinued Operations | ' | ||||||
Year ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Revenues | $ | 27 | $ | -26 | $ | 58 | |
Expenses | 19 | 31 | 250 | ||||
Income (loss) before income taxes | 8 | -57 | -192 | ||||
Income tax expense (benefit) | 3 | -20 | -66 | ||||
Income (loss) from discontinued operations | $ | 5 | $ | -37 | $ | -126 |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||
Derivative Financial Instruments | ' | |||||||||
(20) Derivative Financial Instruments | ||||||||||
The fair value of derivative positions outstanding is included in other assets and other liabilities in the accompanying consolidated balance sheets. | ||||||||||
During 2013 and 2012, we entered into certain interest rate derivative positions that are not designated as hedging instruments. These derivative positions relate to transactions in which we enter into an interest rate swap, cap and/or floor with a customer while at the same time entering into an offsetting interest rate swap, cap and/or floor with another financial institution. In connection with each swap transaction, we agree to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on a similar notional amount at a fixed interest rate. At the same time, we agree to pay another financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. The transaction allows our customer to effectively convert a variable rate loan to a fixed rate. Because we act as an intermediary for our customer, changes in the fair value of the underlying derivative contracts substantially offset each other and do not have a material impact on our results of operations. | ||||||||||
The notional amounts and estimated fair values of interest rate derivative positions outstanding at December 31, 2013 and 2012 presented in the following table (in thousands): | ||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Notional Amount | Estimated Fair Value | Notional Amount | Estimated Fair Value | |||||||
Non-hedging interest rate derivative: | ||||||||||
Commercial loan/lease interest rate swaps | $ | 764,939 | $ | 8,652 | $ | 523,216 | $ | 28,469 | ||
Commercial loan/lease interest rate swaps | -764,939 | -8,652 | -523,216 | -28,469 | ||||||
Commercial loan/lease interest rate caps | -58,706 | -665 | -42,380 | -4 | ||||||
Commercial loan/lease interest rate caps | 58,706 | 665 | 42,380 | 4 | ||||||
The weighted-average receive and pay interest rates for interest rate swaps outstanding at December 31, 2013 were as follows: | ||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Weighted-Average Interest Rate | Weighted-Average Interest Rate | |||||||||
Received | Paid | Received | Paid | |||||||
Non-hedging interest rate swaps | 2.99% | 4.89% | 4.76% | 3.11% | ||||||
The weighted-average strike rate for outstanding interest rate caps was 1.87% at December 31, 2013. | ||||||||||
Our credit exposure on interest rate swaps and caps is limited to the net favorable value and interest payments of all swaps and caps by each counterparty. In such cases collateral may be required from the counterparties involved if the net value of the swaps and caps exceeds a nominal amount considered to be immaterial. Our credit exposure, net of any collateral pledged, relating to interest rate swaps and caps was approximately $9.3 million at December 31, 2013, all of which relates to bank customers. Collateral levels are monitored and adjusted on a regular basis for changes in interest rate swap and cap values. At December 31, 2013 and 2012, we had $10.7 million and $12.3 million in cash collateral pledged for these derivatives included in interest-bearing deposits. |
Stockholders_Equity
Stockholder's Equity | 1 Months Ended |
Mar. 28, 2013 | |
Stockholders' Equity [Abstract] | ' |
Stockholders' Equity | ' |
(21) Stockholders' Equity | |
In January 2009, we issued $75 million of perpetual preferred stock and related warrants under the U.S. Department of Treasury's voluntary Capital Purchase Program. The preferred stock was repurchased in May 2009 and the U.S. Treasury auctioned the related warrants in the first quarter of 2010. As of December 31, 2013, warrants to purchase 710,598 shares at $14.84 per share are still outstanding. | |
On August 1, 2012 we completed a sale of 2.3 million shares of our common stock in a public offering. Net proceeds from the sale totaled $87.0 million. The additional equity is being used for general corporate purposes, including retirement of $15.0 million of debt and additional capital to support continued loan growth at our bank. | |
On March 28, 2013, we completed a sale of 6.0 million shares of 6.5% non-cumulative preferred stock, par value $0.01, with a liquidation preference of $25 per share, in a public offering. Dividends on the preferred stock are not cumulative and will be paid when declared by our board of directors to the extent that we have lawfully available funds to pay dividends. If declared, dividends will accrue and be payable quarterly, in arrears, on the liquidation preference amount, on a non-cumulative basis, at a rate of 6.50% per annum. We paid $7.0 million in dividends on the preferred stock for the year ended December 31, 2013 2013. Holders of preferred stock will not have voting rights, except with respect to authorizing or increasing the authorized amount of senior stock, certain changes in the terms of the preferred stock, certain dividend non-payments and as otherwise required by applicable law. Net proceeds from the sale totaled $145.0 million. The additional equity is being used for general corporate purposes, including funding regulatory capital infusions into the Bank. |
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||
Quarterly Financial Information | ' | |||||||||
(22) Quarterly Financial Data (unaudited) | ||||||||||
The tables below summarize our quarterly financial information for the years December 31, 2013 and 2012 (in thousands except per share and average share data): | ||||||||||
2013 Selected Quarterly Financial Data | ||||||||||
Fourth | Third | Second | First | |||||||
Interest income | $ | 117,965 | $ | 115,217 | $ | 107,264 | $ | 104,179 | ||
Interest expense | 6,490 | 6,441 | 6,044 | 6,137 | ||||||
Net interest income | 111,475 | 108,776 | 101,220 | 98,042 | ||||||
Provision for credit losses | 5,000 | 5,000 | 7,000 | 2,000 | ||||||
Net interest income after provision for credit losses | 106,475 | 103,776 | 94,220 | 96,042 | ||||||
Non-interest income | 11,184 | 10,431 | 11,128 | 11,281 | ||||||
Non-interest expense | 70,291 | 62,009 | 68,734 | 55,700 | ||||||
Income from continuing operations before income taxes | 47,368 | 52,198 | 36,614 | 51,623 | ||||||
Income tax expense | 17,012 | 18,724 | 12,542 | 18,479 | ||||||
Income from continuing operations | 30,356 | 33,474 | 24,072 | 33,144 | ||||||
Loss from discontinued operations (after-tax) | 3 | 2 | 1 | -1 | ||||||
Net income | 30,359 | 33,476 | 24,073 | 33,143 | ||||||
Preferred stock dividends | 2,438 | 2,437 | 2,438 | 81 | ||||||
Net income available to common shareholders | $ | 27,921 | $ | 31,039 | $ | 21,635 | $ | 33,062 | ||
Basic earnings per share: | ||||||||||
Income from continuing operations | $ | 0.68 | $ | 0.76 | $ | 0.53 | $ | 0.82 | ||
Net income | $ | 0.68 | $ | 0.76 | $ | 0.53 | $ | 0.82 | ||
Diluted earnings per share: | ||||||||||
Income from continuing operations | $ | 0.67 | $ | 0.74 | $ | 0.52 | $ | 0.8 | ||
Net income | $ | 0.67 | $ | 0.74 | $ | 0.52 | $ | 0.8 | ||
Average shares | ||||||||||
Basic | 40,983,000 | 40,902,000 | 40,814,000 | 40,474,000 | ||||||
Diluted | 41,889,000 | 41,792,000 | 41,724,000 | 41,429,000 | ||||||
(In thousands except per share and average share data) | 2012 Selected Quarterly Financial Data | |||||||||
Fourth | Third | Second | First | |||||||
Interest income | $ | 107,769 | $ | 102,011 | $ | 95,546 | $ | 93,131 | ||
Interest expense | 6,614 | 5,156 | 4,906 | 4,902 | ||||||
Net interest income | 101,155 | 96,855 | 90,640 | 88,229 | ||||||
Provision for credit losses | 4,500 | 3,000 | 1,000 | 3,000 | ||||||
Net interest income after provision for credit losses | 96,655 | 93,855 | 89,640 | 85,229 | ||||||
Non-interest income | 12,836 | 10,552 | 10,462 | 9,190 | ||||||
Non-interest expense | 60,074 | 53,521 | 53,973 | 52,276 | ||||||
Income from continuing operations before income taxes | 49,417 | 50,886 | 46,129 | 42,143 | ||||||
Income tax expense | 17,982 | 18,316 | 16,506 | 15,062 | ||||||
Income from continuing operations | 31,435 | 32,570 | 29,623 | 27,081 | ||||||
Loss from discontinued operations (after-tax) | -6 | -34 | -1 | 4 | ||||||
Net income | $ | 31,429 | $ | 32,536 | $ | 29,622 | $ | 27,085 | ||
Basic earnings per share: | ||||||||||
Income from continuing operations | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 0.72 | ||
Net income | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 0.72 | ||
Diluted earnings per share: | ||||||||||
Income from continuing operations | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 0.7 | ||
Net income | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 0.7 | ||
Average shares | ||||||||||
Basic | 40,446,000 | 39,618,000 | 38,013,000 | 37,795,000 | ||||||
Diluted | 41,505,000 | 40,756,000 | 39,142,000 | 38,914,000 |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
(23) Subsequent Events | |
On January 29, 2014, we completed a sale of 1.7 million shares of our common stock in a public offering. Net proceeds from the sale totaled $96.6 million. On January 31, 2014, the Bank issued $175.0 million of subordinated notes in an offering to institutional investors exempt from registration under Section 3(a)(2) of the Securities Act of 1933 and 12 C.F.R. Part 16. Net proceeds from the transaction were $172.1 million. The notes mature in January 2026 and bear interest at a rate of 5.25% per annum, payable semi-annually. | |
The notes are unsecured and are subordinate to the Bank's obligations to its depositors, its obligations under banker's acceptances and letters of credit, certain obligations to Federal Reserve Banks and the FDIC and the Bank's obligations to its other creditors, except any obligations which expressly rank on a parity with or junior to the notes. The notes are expected to qualify as Tier 2 capital for regulatory capital purposes, subject to applicable limitations. | |
The net proceeds of the offerings were available to the Company for general corporate purposes, including retirement of $15.0 million of short-term debt, and as additional capital to support continued loan growth. |
New_Accounting_Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Standards [Abstract] | ' |
New Accounting Standards | ' |
(24) New Accounting Standards | |
ASU 2013-01, “Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”) amends Topic 210, “Balance Sheet” to clarify that the scope of ASU 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” would apply to derivatives including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements and securities borrowing and securities lending transactions that are offset in accordance with Topic 815, “Derivatives and Hedging”. ASU 2013-01 was effective January 1, 2013 and did not have a significant impact on our financial statements. | |
ASU 2013-02, “Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”) amends Topic 220, “Comprehensive Income” to improve the reporting of reclassifications out of accumulated other comprehensive income. Entities are required to separately present significant amounts reclassified out of accumulated other comprehensive income for each component of accumulated other comprehensive income and to disclose, for each affected line item in the income statement, the amount of accumulated other comprehensive income that has been reclassified into that line item. ASU 2013-02 was effective for fiscal years, and interim periods within those years, beginning after December 13, 2012 and did not have a significant impact on our financial statements. | |
ASU 2011-04, “Fair Value Measurement (Topic 820) – Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASU 2011-04”) amends Topic 820, “Fair Value Measurements and Disclosures,” to converge the fair value measurement guidance in U.S. generally accepted accounting principles and International Financial Reporting Standards (“IFRS”). ASU 2011-04 clarifies the application of existing fair value measurement requirements, changes certain principles in Topic 820 and requires additional fair value disclosures. ASU 2011-04 was effective for annual periods beginning after December 15, 2011, and did not have a significant impact on our financial statements. | |
ASU 2011-05, “Comprehensive Income (Topic 220) – Presentation of Comprehensive Income” (“ASU 2011-05”) amends Topic 220, “Comprehensive Income,” to require that all non-owner changes in stockholders' equity be presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. Additionally, ASU 2011-05 requires entities to present, on the face of the financial statements, reclassification adjustments for items that are reclassified from other comprehensive income to net income in the statement or statements where the components of net income and the components of other comprehensive income are presented. The option to present components of other comprehensive income as part of the statement of changes in stockholders' equity was eliminated. ASU 2011-05 was effective for annual and interim periods beginning after December 15, 2011; however certain provisions related to the presentation of reclassification adjustments have been deferred by ASU 2011-12 “Comprehensive Income (Topic 820) – Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05.” ASU 2011-05 did not have a significant impact on our financial statements. | |
ASU 2011-08, “Intangibles – Goodwill and Other (Topic 350) – Testing Goodwill for Impairment” (“ASU 2011-08”) amends Topic 350, “Intangibles – Goodwill and Other,” to give entities the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. However, if an entity concludes otherwise, then it is required to perform the first step of the two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. ASU 2011-08 was effective of annual and interim impairment tests beginning after December 15, 2011, and did not have a significant impact on our financial statements. | |
ASU 2011-11, “Balance Sheet (Topic 210) – “Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”) amends Topic 210, “Balance Sheet,” to require an entity to disclose both gross and net information about financial instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013, and is not expected to have a significant impact on our financial statements. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Operations and Summary of Significant Accounting Policies [Abstract] | ' |
Organization and Nature of Business | ' |
Organization and Nature of Business | |
Texas Capital Bancshares, Inc. (“the Company”), a Delaware corporation, was incorporated in November 1996 and commenced doing business in March 1998, but did not commence banking operations until December 1998. The consolidated financial statements of the Company include the accounts of Texas Capital Bancshares, Inc. and its wholly owned subsidiary, Texas Capital Bank, N.A. (“the Bank”). The Bank currently provides commercial banking services to its customers largely in Texas and concentrates on middle market commercial businesses and successful professionals and entrepreneurs. | |
Basis of Presentation | ' |
Basis of Presentation | |
The accounting and reporting policies of Texas Capital Bancshares, Inc. conform to accounting principles generally accepted in the United States and to generally accepted practices within the banking industry. Certain prior period balances have been reclassified to conform to the current period presentation. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for possible loan losses, the fair value of stock-based compensation awards, the fair values of financial instruments and the status of contingencies are particularly susceptible to significant change in the near term. | |
Correction of an Error in the Financial Statements | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Cash equivalents include amounts due from banks and federal funds sold. | |
Securities | ' |
Securities | |
Securities are classified as trading, available-for-sale or held-to-maturity. Management classifies securities at the time of purchase and re-assesses such designation at each balance sheet date; however, transfers between categories from this re-assessment are rare. | |
Trading Account | |
Securities acquired for resale in anticipation of short-term market movements are classified as trading, with realized and unrealized gains and losses recognized in income. To date, we have not had any activity in our trading account. | |
Held-to-Maturity and Available-for-Sale | |
Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost. Debt securities not classified as held-to-maturity or trading and marketable equity securities not classified as trading are classified as available-for-sale. | |
Available-for-sale securities are stated at fair value, with the unrealized gains and losses reported in a separate component of accumulated other comprehensive income (loss), net of tax. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, or in the case of mortgage-backed securities, over the estimated life of the security. Such amortization and accretion is included in interest income from securities. Realized gains and losses and declines in value judged to be other-than-temporary are included in gain (loss) on sale of securities. The cost of securities sold is based on the specific identification method. | |
All securities are available-for-sale as of December 31, 2013 and 2012. | |
Loans | ' |
Loans | |
Loans Held for Investment | |
Loans held for investment (which include equipment leases accounted for as financing leases) are stated at the amount of unpaid principal reduced by deferred income (net of costs). Interest on loans is recognized using the simple-interest method on the daily balances of the principal amounts outstanding. Loan origination fees, net of direct loan origination costs, and commitment fees, are deferred and amortized as an adjustment to yield over the life of the loan, or over the commitment period, as applicable. | |
A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. Reserves on impaired loans are measured based on the present value of expected future cash flows discounted at the loan's effective interest rate or the fair value of the underlying collateral. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |
The accrual of interest on loans is discontinued when there is a clear indication that the borrower's cash flow may not be sufficient to meet payments as they become due, which is generally when a loan is 90 days past due. When a loan is placed on non-accrual status, all previously accrued and unpaid interest is reversed. Interest income is subsequently recognized on a cash basis as long as the remaining book balance of the asset is deemed to be collectible. If collectibility is questionable, then cash payments are applied to principal. A loan is placed back on accrual status when both principal and interest are current and it is probable that we will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement. | |
Loans held for investment includes legal ownership interests in mortgage loans that we purchase through our mortgage warehouse lending division. The ownership interests are purchased from unaffiliated mortgage originators who are seeking additional funding through sale of the undivided ownership interests to facilitate their ability to originate loans. The mortgage originator has no obligation to offer and we have no obligation to purchase these interests. The originator closes mortgage loans consistent with underwriting standards established by approved investors, and, at the time of the sale to the investor, our ownership interest and that of the originator are delivered by us to the investor selected by the originator and approved by us. We typically purchase up to a 99% ownership interest in each mortgage with the originator owning the remaining percentage. These mortgage ownership interests are held by us for an interim period, usually less than 30 days and more typically 10-20 days. Because of conditions in agreements with originators designed to reduce transaction risks, under Accounting Standards Codification 860, Transfers and Servicing of Financial Assets (“ASC 860”), the ownership interests do not qualify as participating interests. Under ASC 860, the ownership interests are deemed to be loans to the originators and payments we receive from investors are deemed to be payments made by or on behalf of the originator to repay the loan deemed made to the originator. Because we have an actual, legal ownership interest in the underlying residential mortgage loan, these interests are not extensions of credit to the originators that are secured by the mortgage loans as collateral. | |
Due to market conditions or events of default by the investor or the originator, we could be required to purchase the remaining interests in the mortgage loans and hold them beyond the expected 10-20 days. Mortgage loans acquired under these conditions could require future allocations of the allowance for loan losses or be subject to charge off in the event the loans become impaired. Mortgage loan interests purchased and disposed of as expected receive no allocation of the allowance for loan losses due to the minimal loss experience with these assets. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses | |
The allowance for loan losses is established through a provision for loan losses charged against income. The allowance for loan losses includes specific reserves for impaired loans and a general reserve for estimated losses inherent in the loan portfolio at the balance sheet date, but not yet identified with specific loans. Loans deemed to be uncollectible are charged against the allowance when management believes that the collectibility of the principal is unlikely and subsequent recoveries, if any, are credited to the allowance. Management's periodic evaluation of the adequacy of the allowance is based on an assessment of the current loan portfolio, including known inherent risks, adverse situations that may affect the borrowers' ability to repay, the estimated value of any underlying collateral and current economic conditions. | |
Other Real Estate Owned | ' |
Other Real Estate Owned | |
Other real estate owned (“OREO”), which is included in other assets on the balance sheet, consists of real estate that has been foreclosed. Real estate that has been foreclosed is recorded at the fair value of the real estate, less selling costs, through a charge to the allowance for loan losses, if necessary. Subsequent write-downs required for declines in value are recorded through a valuation allowance, or taken directly to the asset, charged to other non-interest expense. | |
Premises and Equipment | ' |
Premises and Equipment | |
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from three to ten years. Gains or losses on disposals of premises and equipment are included in results of operations. | |
Marketing and Software | ' |
Marketing and Software | |
Marketing costs are expensed as incurred. Ongoing maintenance and enhancements of websites are expensed as incurred. Costs incurred in connection with development or purchase of internal use software are capitalized and amortized over a period not to exceed five years. Internal use software costs are included in other assets in the consolidated financial statements. | |
Goodwill and Other Intangible Assets | ' |
Goodwill and Other Intangible Assets | |
Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset, or liability. Our intangible assets relate primarily to loan customer relationships. Intangible assets with definite useful lives are amortized on an accelerated basis over their estimated life. Intangible assets are tested for impairment annually or whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |
Segment Reporting | ' |
Segment Reporting | |
We have determined that all of our lending divisions and subsidiaries meet the aggregation criteria of ASC 280, Segment Reporting, since all offer similar products and services, operate with similar processes, and have similar customers. | |
Stock-based Compensation | ' |
Stock-based Compensation | |
We account for all stock-based compensation transactions in accordance with ASC 718, Compensation – Stock Compensation (“ASC 718”), which requires that stock compensation transactions be recognized as compensation expense in the statement of operations based on their fair values on the measurement date, which is the date of the grant. | |
Accumulated Other Comprehensive Income (Loss) | ' |
Accumulated Other Comprehensive Income | |
Unrealized gains or losses on our available-for-sale securities (after applicable income tax expense or benefit) are included in accumulated other comprehensive income (loss), net. Accumulated comprehensive income (loss), net for the three years ended December 31, 2013 is reported in the accompanying consolidated statements of changes in stockholders' equity. | |
Income Taxes | ' |
Income Taxes | |
The Company and its subsidiary file a consolidated federal income tax return. We utilize the liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based upon the difference between the values of the assets and liabilities as reflected in the financial statements and their related tax basis using enacted tax rates in effect for the year in which the differences are expected to be recovered or settled. As changes in tax law or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. A valuation reserve is provided against deferred tax assets unless it is more likely than not that such deferred tax assets will be realized. | |
Basic and Diluted Earnings Per Common Share | ' |
Basic and Diluted Earnings Per Common Share | |
Basic earnings per common share is based on net income available to common stockholders divided by the weighted-average number of common shares outstanding during the period excluding non-vested stock. Diluted earnings per common share include the dilutive effect of stock options and non-vested stock awards granted using the treasury stock method. A reconciliation of the weighted-average shares used in calculating basic earnings per common share and the weighted average common shares used in calculating diluted earnings per common share for the reported periods is provided in Note 14 – Earnings Per Share. | |
Fair Values of Financial Instruments | ' |
Fair Values of Financial Instruments | |
ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value under GAAP and enhances disclosures about fair value measurements. In general, fair values of financial instruments are based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. |
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Securities | ' | ||||||||||||
Schedule of summary of securities | ' | ||||||||||||
31-Dec-13 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
Available-for-Sale Securities: | |||||||||||||
Residential mortgage-backed securities | $ | 38,786 | $ | 2,676 | $ | - | $ | 41,462 | |||||
Municipals | 14,401 | 104 | - | 14,505 | |||||||||
Equity securities(1) | 7,522 | - | -275 | 7,247 | |||||||||
$ | 60,709 | $ | 2,780 | $ | -275 | $ | 63,214 | ||||||
31-Dec-12 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
Available-for-Sale Securities: | |||||||||||||
Residential mortgage-backed securities | $ | 57,342 | $ | 4,239 | $ | - | $ | 61,581 | |||||
Corporate securities | 5,000 | 80 | - | 5,080 | |||||||||
Municipals | 25,300 | 594 | - | 25,894 | |||||||||
Equity securities(1) | 7,519 | 121 | - | 7,640 | |||||||||
$ | 95,161 | $ | 5,034 | $ | - | $ | 100,195 | ||||||
Schedule of amortized cost and estimated fair value of securities | ' | ||||||||||||
31-Dec-13 | |||||||||||||
After One | After Five | ||||||||||||
Less Than | Through | Through | After Ten | ||||||||||
One Year | Five Years | Ten Years | Years | Total | |||||||||
Available-for-sale: | |||||||||||||
Residential mortgage-backed | |||||||||||||
securities:(1) | |||||||||||||
Amortized cost | $ | 238 | $ | 14,720 | $ | 7,718 | $ | 16,110 | $ | 38,786 | |||
Estimated fair value | 252 | 15,641 | 8,456 | 17,113 | 41,462 | ||||||||
Weighted average yield(3) | 4.32% | 4.78% | 5.56% | 2.40% | 3.94% | ||||||||
Municipals:(2) | |||||||||||||
Amortized cost | 7,749 | 6,652 | - | - | 14,401 | ||||||||
Estimated fair value | 7,818 | 6,687 | - | - | 14,505 | ||||||||
Weighted average yield(3) | 5.76% | 5.71% | 0.00% | - | 5.73% | ||||||||
Equity securities:(4) | |||||||||||||
Amortized cost | 7,522 | - | - | - | 7,522 | ||||||||
Estimated fair value | 7,247 | - | - | - | 7,247 | ||||||||
Total available-for-sale securities: | |||||||||||||
Amortized cost | $ | 60,709 | |||||||||||
Estimated fair value | $ | 63,214 | |||||||||||
31-Dec-12 | |||||||||||||
After One | After Five | ||||||||||||
Less Than | Through | Through | After Ten | ||||||||||
One Year | Five Years | Ten Years | Years | Total | |||||||||
Available-for-sale: | |||||||||||||
Residential mortgage-backed | |||||||||||||
securities:(1) | |||||||||||||
Amortized cost | $ | 656 | $ | 5,698 | $ | 23,111 | $ | 27,877 | $ | 57,342 | |||
Estimated fair value | 690 | 6,113 | 24,948 | 29,830 | 61,581 | ||||||||
Weighted average yield(3) | 4.20% | 5.29% | 4.86% | 3.41% | 4.19% | ||||||||
Corporate securities: | |||||||||||||
Amortized cost | - | 5,000 | - | - | 5,000 | ||||||||
Estimated fair value | - | 5,080 | - | - | 5,080 | ||||||||
Weighted average yield(3) | - | 7.38% | - | - | 7.38% | ||||||||
Municipals:(2) | |||||||||||||
Amortized cost | 6,575 | 16,448 | 2,277 | - | 25,300 | ||||||||
Estimated fair value | 6,646 | 16,895 | 2,353 | - | 25,894 | ||||||||
Weighted average yield(3) | 5.75% | 5.66% | 6.01% | - | 5.72% | ||||||||
Equity securities:(4) | |||||||||||||
Amortized cost | 7,519 | - | - | - | 7,519 | ||||||||
Estimated fair value | 7,640 | - | - | - | 7,640 | ||||||||
Total available-for-sale securities: | |||||||||||||
Amortized cost | $ | 95,161 | |||||||||||
Estimated fair value | $ | 100,195 | |||||||||||
Schedule of investment securities that have been in a continuous unrealized loss position for less or more than 12 months | ' | ||||||||||||
Less Than 12 Months | 12 Months or Longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||
Equity securities | $ | 7,247 | $ | -275 | $ | - | $ | - | $ | 7,247 | $ | -275 |
Loans_and_Allowance_for_Credit1
Loans and Allowance for Credit Losses (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Loans and Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||
Schedule of loans held for investments | ' | ||||||||||||||||||
31-Dec | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Commercial | $ | 5,020,565 | $ | 4,106,419 | |||||||||||||||
Mortgage finance | 2,784,265 | 3,175,272 | |||||||||||||||||
Construction | 1,262,905 | 737,637 | |||||||||||||||||
Real estate | 2,146,228 | 1,892,451 | |||||||||||||||||
Consumer | 15,350 | 19,493 | |||||||||||||||||
Equipment leases | 93,160 | 69,470 | |||||||||||||||||
Gross loans held for investment | 11,322,473 | 10,000,742 | |||||||||||||||||
Deferred income (net of direct origination costs) | -51,899 | -39,935 | |||||||||||||||||
Allowance for loan losses | -87,604 | -74,337 | |||||||||||||||||
Total | $ | 11,182,970 | $ | 9,886,470 | |||||||||||||||
Schedule of the credit risk profile of loan portfolio by internally assigned grades and nonaccrual status | ' | ||||||||||||||||||
31-Dec-13 | Mortgage | ||||||||||||||||||
Commercial | Finance | Construction | Real Estate | Consumer | Leases | Total | |||||||||||||
Grade: | |||||||||||||||||||
Pass | $ | 4,908,944 | $ | 2,784,265 | $ | 1,261,995 | $ | 2,099,450 | $ | 15,251 | $ | 89,317 | $ | 11,159,222 | |||||
Special mention | 24,132 | - | 102 | 6,338 | - | 51 | 30,623 | ||||||||||||
Substandard-accruing | 74,593 | - | 103 | 21,770 | 45 | 3,742 | 100,253 | ||||||||||||
Non-accrual | 12,896 | - | 705 | 18,670 | 54 | 50 | 32,375 | ||||||||||||
Total loans held for investment | $ | 5,020,565 | $ | 2,784,265 | $ | 1,262,905 | $ | 2,146,228 | $ | 15,350 | $ | 93,160 | $ | 11,322,473 | |||||
31-Dec-12 | Mortgage | ||||||||||||||||||
Commercial | Finance | Construction | Real Estate | Consumer | Leases | Total | |||||||||||||
Grade: | |||||||||||||||||||
Pass | $ | 4,013,538 | $ | 3,175,272 | $ | 703,673 | $ | 1,816,027 | $ | 19,436 | $ | 68,327 | $ | 9,796,273 | |||||
Special mention | 33,137 | - | 11,957 | 12,461 | - | 919 | 58,474 | ||||||||||||
Substandard-accruing | 44,371 | - | 4,790 | 40,897 | - | 104 | 90,162 | ||||||||||||
Non-accrual | 15,373 | - | 17,217 | 23,066 | 57 | 120 | 55,833 | ||||||||||||
Total loans held for investment | $ | 4,106,419 | $ | 3,175,272 | $ | 737,637 | $ | 1,892,451 | $ | 19,493 | $ | 69,470 | $ | 10,000,742 | |||||
Schedule of activity in the reserve for loan losses by portfolio segment | ' | ||||||||||||||||||
31-Dec-13 | Mortgage | ||||||||||||||||||
(in thousands) | Commercial | Finance | Construction | Real Estate | Consumer | Leases | Unallocated | Total | |||||||||||
Beginning balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Provision for loan losses | 23,693 | - | 2,456 | -6,809 | -105 | 325 | -1,395 | 18,165 | |||||||||||
Charge-offs | 6,575 | - | - | 144 | 45 | 2 | - | 6,766 | |||||||||||
Recoveries | 1,203 | - | - | 270 | 73 | 322 | - | 1,868 | |||||||||||
Net charge-offs (recoveries) | 5,372 | - | - | -126 | -28 | -320 | - | 4,898 | |||||||||||
Ending balance | $ | 39,868 | $ | - | $ | 14,553 | $ | 24,210 | $ | 149 | $ | 3,105 | $ | 5,719 | $ | 87,604 | |||
Period end amount allocated to: | |||||||||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 2,015 | $ | - | $ | - | $ | 1,143 | $ | 8 | $ | 8 | $ | - | $ | 3,174 | |||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 37,853 | - | 14,553 | 23,067 | 141 | 3,097 | 5,719 | 84,430 | |||||||||||
Ending balance | $ | 39,868 | $ | - | $ | 14,553 | $ | 24,210 | $ | 149 | $ | 3,105 | $ | 5,719 | $ | 87,604 | |||
31-Dec-12 | Mortgage | ||||||||||||||||||
(in thousands) | Commercial | Finance | Construction | Real Estate | Consumer | Leases | Unallocated | Total | |||||||||||
Beginning balance | $ | 17,337 | $ | - | $ | 7,845 | $ | 33,721 | $ | 223 | $ | 2,356 | $ | 8,813 | $ | 70,295 | |||
Provision for loan losses | 10,086 | - | 4,242 | -2,741 | 19 | 200 | -1,699 | 10,107 | |||||||||||
Charge-offs | 6,708 | - | - | 899 | 49 | 204 | - | 7,860 | |||||||||||
Recoveries | 832 | - | 10 | 812 | 33 | 108 | - | 1,795 | |||||||||||
Net charge-offs (recoveries) | 5,876 | - | -10 | 87 | 16 | 96 | - | 6,065 | |||||||||||
Ending balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Period end amount allocated to: | |||||||||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 2,983 | $ | - | $ | 14 | $ | 899 | $ | 16 | $ | 18 | $ | - | $ | 3,930 | |||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 18,564 | - | 12,083 | 29,994 | 210 | 2,442 | 7,114 | 70,407 | |||||||||||
Ending balance | $ | 21,547 | $ | - | $ | 12,097 | $ | 30,893 | $ | 226 | $ | 2,460 | $ | 7,114 | $ | 74,337 | |||
Mortgage | |||||||||||||||||||
31-Dec-13 | Commercial | Finance | Construction | Real Estate | Consumer | Lease | Total | ||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 15,140 | $ | - | $ | 705 | $ | 24,027 | $ | 54 | $ | 50 | $ | 39,976 | |||||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 5,005,425 | 2,784,265 | 1,262,200 | 2,122,201 | 15,296 | 93,110 | 11,282,497 | ||||||||||||
Total | $ | 5,020,565 | $ | 2,784,265 | $ | 1,262,905 | $ | 2,146,228 | $ | 15,350 | $ | 93,160 | $ | 11,322,473 | |||||
Mortgage | |||||||||||||||||||
31-Dec-12 | Commercial | Finance | Construction | Real Estate | Consumer | Lease | Total | ||||||||||||
Loans individually evaluated | |||||||||||||||||||
for impairment | $ | 15,373 | $ | - | $ | 18,179 | $ | 32,512 | $ | 57 | $ | 120 | $ | 66,241 | |||||
Loans collectively evaluated | |||||||||||||||||||
for impairment | 4,091,046 | 3,175,272 | 719,458 | 1,859,939 | 19,436 | 69,350 | 9,934,501 | ||||||||||||
Total | $ | 4,106,419 | $ | 3,175,272 | $ | 737,637 | $ | 1,892,451 | $ | 19,493 | $ | 69,470 | $ | 10,000,742 | |||||
Schedule of non-accrual loans by type and purpose | ' | ||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 12,896 | |||||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | ||||||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 15,607 | ||||||||||||||||||
Commercial | 508 | ||||||||||||||||||
Secured by 1-4 family | 2,555 | ||||||||||||||||||
Consumer | 54 | ||||||||||||||||||
Leases | 50 | ||||||||||||||||||
Total non-accrual loans | $ | 32,375 | |||||||||||||||||
Schedule of impaired loans, by portfolio class | ' | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||
With no related allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 2,005 | $ | 2,005 | $ | - | $ | 4,265 | $ | - | |||||||||
Energy loans | 1,614 | 3,443 | - | 969 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | 705 | - | 3,111 | 114 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 13,524 | 13,524 | - | 9,796 | - | ||||||||||||||
Commercial | 508 | 508 | - | 5,458 | - | ||||||||||||||
Secured by 1-4 family | 1,320 | 1,320 | - | 2,464 | - | ||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||
Equipment leases | - | - | - | - | - | ||||||||||||||
Total impaired loans with no allowance recorded | $ | 19,676 | $ | 21,505 | $ | - | $ | 26,063 | $ | 114 | |||||||||
With an allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 11,060 | $ | 12,425 | $ | 1,946 | $ | 14,240 | $ | - | |||||||||
Energy loans | 460 | 460 | 69 | 913 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | - | - | - | 160 | - | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 6,289 | 6,289 | 822 | 7,912 | - | ||||||||||||||
Commercial | - | - | - | 477 | - | ||||||||||||||
Secured by 1-4 family | 2,387 | 2,387 | 321 | 914 | - | ||||||||||||||
Consumer | 54 | 54 | 8 | 43 | - | ||||||||||||||
Equipment leases | 50 | 50 | 8 | 72 | - | ||||||||||||||
Total impaired loans with an allowance recorded | $ | 20,300 | $ | 21,665 | $ | 3,174 | $ | 24,731 | $ | - | |||||||||
Combined: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 13,065 | $ | 14,430 | $ | 1,946 | $ | 18,505 | $ | - | |||||||||
Energy loans | 2,074 | 3,903 | 69 | 1,882 | - | ||||||||||||||
Construction | |||||||||||||||||||
Market risk | 705 | 705 | - | 3,271 | 114 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 19,813 | 19,813 | 822 | 17,708 | - | ||||||||||||||
Commercial | 508 | 508 | - | 5,935 | - | ||||||||||||||
Secured by 1-4 family | 3,707 | 3,707 | 321 | 3,378 | - | ||||||||||||||
Consumer | 54 | 54 | 8 | 43 | - | ||||||||||||||
Equipment leases | 50 | 50 | 8 | 72 | - | ||||||||||||||
Total impaired loans | $ | 39,976 | $ | 43,170 | $ | 3,174 | $ | 50,794 | $ | 114 | |||||||||
31-Dec-12 | |||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||
With no related allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 2,938 | $ | 2,938 | $ | - | $ | 1,409 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 17,217 | 17,217 | - | 18,571 | 677 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 9,061 | 9,061 | - | 7,944 | - | ||||||||||||||
Commercial | 6,604 | 6,604 | - | 6,451 | - | ||||||||||||||
Secured by 1-4 family | 2,632 | 2,632 | - | 1,827 | - | ||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||
Equipment leases | - | - | - | - | - | ||||||||||||||
Total impaired loans with no allowance recorded | $ | 38,452 | $ | 38,452 | $ | - | $ | 36,202 | $ | 677 | |||||||||
With an allowance recorded: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 12,435 | $ | 18,391 | $ | 2,983 | $ | 15,484 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 962 | 962 | 14 | 321 | - | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 11,439 | 11,439 | 535 | 11,811 | - | ||||||||||||||
Commercial | 2,013 | 2,013 | 89 | 671 | - | ||||||||||||||
Secured by 1-4 family | 763 | 763 | 275 | 1,632 | - | ||||||||||||||
Consumer | 57 | 57 | 16 | 59 | - | ||||||||||||||
Equipment leases | 120 | 120 | 18 | 182 | - | ||||||||||||||
Total impaired loans with an allowance recorded | $ | 27,789 | $ | 33,745 | $ | 3,930 | $ | 30,160 | $ | - | |||||||||
Combined: | |||||||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 15,373 | $ | 21,329 | $ | 2,983 | $ | 16,893 | $ | - | |||||||||
Construction | |||||||||||||||||||
Market risk | 18,179 | 18,179 | 14 | 18,892 | 677 | ||||||||||||||
Real estate | |||||||||||||||||||
Market risk | 20,500 | 20,500 | 535 | 19,755 | - | ||||||||||||||
Commercial | 8,617 | 8,617 | 89 | 7,122 | - | ||||||||||||||
Secured by 1-4 family | 3,395 | 3,395 | 275 | 3,459 | - | ||||||||||||||
Consumer | 57 | 57 | 16 | 59 | - | ||||||||||||||
Equipment leases | 120 | 120 | 18 | 182 | - | ||||||||||||||
Total impaired loans | $ | 66,241 | $ | 72,197 | $ | 3,930 | $ | 66,362 | $ | 677 | |||||||||
Schedule of an age analysis of accruing past due loans | ' | ||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total(1) | ||||||||||||||
Commercial | |||||||||||||||||||
Business loans | $ | 29,946 | $ | 7,683 | $ | 7,528 | $ | 45,157 | $ | 4,027,409 | $ | 4,072,566 | |||||||
Energy | 5,239 | 1,092 | - | 6,331 | 928,772 | 935,103 | |||||||||||||
Mortgage finance loans | - | - | - | - | 2,784,265 | 2,784,265 | |||||||||||||
Construction | |||||||||||||||||||
Market risk | 1 | - | 103 | 104 | 1,245,388 | 1,245,492 | |||||||||||||
Secured by 1-4 family | - | - | - | - | 16,708 | 16,708 | |||||||||||||
Real estate | |||||||||||||||||||
Market risk | 6,013 | 3,100 | - | 9,113 | 1,623,706 | 1,632,819 | |||||||||||||
Commercial | 15,024 | - | - | 15,024 | 387,856 | 402,880 | |||||||||||||
Secured by 1-4 family | 2,607 | 266 | 1,694 | 4,567 | 87,292 | 91,859 | |||||||||||||
Consumer | 37 | 177 | - | 214 | 15,082 | 15,296 | |||||||||||||
Equipment leases | 189 | - | - | 189 | 92,921 | 93,110 | |||||||||||||
Total loans held for investment | $ | 59,056 | $ | 12,318 | $ | 9,325 | $ | 80,699 | $ | 11,209,399 | $ | 11,290,098 | |||||||
Schedule of loans that have been restructured | ' | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Number of Contracts | Pre-Restructuring Outstanding Recorded Investment | Post-Restructuring Outstanding Recorded Investment | |||||||||||||||||
Commercial business loans | 3 | $ | 10,823 | $ | 8,921 | ||||||||||||||
Real estate market risk | 1 | 892 | 874 | ||||||||||||||||
Total new restructured loans in 2012 | 4 | $ | 11,715 | $ | 9,795 | ||||||||||||||
31-Dec-12 | |||||||||||||||||||
Number of Contracts | Pre-Restructuring Outstanding Recorded Investment | Post-Restructuring Outstanding Recorded Investment | |||||||||||||||||
Commercial business loans | 3 | $ | 7,140 | $ | 7,103 | ||||||||||||||
Real estate market risk | 2 | 1,726 | 1,147 | ||||||||||||||||
Real estate - 1-4 family | 1 | 1,424 | 1,393 | ||||||||||||||||
Total new restructured loans in 2012 | 6 | $ | 10,290 | $ | 9,643 | ||||||||||||||
December 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Extended maturity | $ | 874 | $ | 1,913 | |||||||||||||||
Adjusted payment schedule | - | 1,393 | |||||||||||||||||
Combination of maturity extension and payment schedule adjustment | 8,921 | 6,337 | |||||||||||||||||
Total | $ | 9,795 | $ | 9,643 |
OREO_and_Valuation_Allowance_f1
OREO and Valuation Allowance for Losses on OREO (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
OREO and Valuation Allowance for Losses on OREO [Abstract] | ' | ||||||
Schedule of the activity related to OREO | ' | ||||||
Year ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Beginning balance | $ | 15,991 | $ | 34,077 | $ | 42,261 | |
Additions | 1,331 | 3,434 | 22,180 | ||||
Sales | -11,292 | -14,637 | -23,566 | ||||
Valuation allowance for OREO | 958 | -4,488 | -3,922 | ||||
Direct write-downs | -1,878 | -2,395 | -2,876 | ||||
Ending balance | $ | 5,110 | $ | 15,991 | $ | 34,077 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Goodwill and Other Intangible Assets [Abstract] | ' | ||||||
Schedule of goodwill and other intangibles | ' | ||||||
Gross Goodwill and Intangible Assets | Accumulated Amortization | Net Goodwill and Intangible Assets | |||||
31-Dec-13 | |||||||
Goodwill | $ | 15,370 | $ | -374 | $ | 14,996 | |
Intangible assets - customer relationships and trademarks | 9,104 | -2,814 | 6,290 | ||||
Total goodwill and intangible assets | $ | 24,474 | $ | -3,188 | $ | 21,286 | |
31-Dec-12 | |||||||
Goodwill | $ | 14,416 | $ | -374 | $ | 14,042 | |
Intangible assets - customer relationships and trademarks | 7,996 | -2,155 | 5,841 | ||||
Total goodwill and intangible assets | $ | 22,412 | $ | -2,529 | $ | 19,883 | |
Schedule of amortization expense related to intangible assets | ' | ||||||
2014 | $ | 699 | |||||
2015 | 598 | ||||||
2016 | 501 | ||||||
2017 | 473 | ||||||
2018 | 473 | ||||||
Thereafter | 3,546 | ||||||
$ | 6,290 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Premises and Equipment [Abstract] | ' | ||||
Schedule of premies and equipment | ' | ||||
31-Dec | |||||
2013 | 2012 | ||||
Premises | $ | 14,113 | $ | 12,950 | |
Furniture and equipment | 28,865 | 26,478 | |||
42,978 | 39,428 | ||||
Accumulated depreciation | -31,496 | -27,983 | |||
Total premises and equipment, net | $ | 11,482 | $ | 11,445 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Deposits [Abstract] | ' | |||||||
Schedule of deposits | ' | |||||||
2013 | 2012 | |||||||
Non-interest bearing demand deposits | $ | 3,347,567 | $ | 2,535,375 | ||||
Interest-bearing deposits | ||||||||
Transaction | 792,186 | 979,642 | ||||||
Savings | 4,414,680 | 3,170,401 | ||||||
Time | 372,639 | 426,077 | ||||||
Deposits in foreign branches | 330,307 | 329,309 | ||||||
Total interest-bearing deposits | 5,909,812 | 4,905,429 | ||||||
Total deposits | $ | 9,257,379 | $ | 7,440,804 | ||||
Schedule of maturities of interest bearing time deposits | ' | |||||||
2014 | $ | 343,654 | ||||||
2015 | 25,599 | |||||||
2016 | 1,105 | |||||||
2017 | 2,041 | |||||||
2018 | 167 | |||||||
2019 and after | 73 | |||||||
$ | 372,639 |
Borrowing_Arrangements_Tables
Borrowing Arrangements (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Borrowing Arrangements [Abstract] | ' | ||||||||||
Schedule of borrowings | ' | ||||||||||
2013 | 2012 | 2011 | |||||||||
Balance | Rate(3) | Balance | Rate(3) | Balance | Rate(3) | ||||||
Federal funds purchased(4) | $ | 148,650 | 0.22% | $ | 273,179 | 0.26% | $ | 412,249 | 0.27% | ||
Customer repurchase agreements(1) | 21,954 | 0.31% | 23,936 | 0.04% | 23,801 | 0.06% | |||||
FHLB borrowings(2) | 840,026 | 0.12% | 1,650,046 | 0.09% | 1,200,066 | 0.14% | |||||
Line of credit | 15,000 | 2.65% | - | - | - | - | |||||
Fed borrowings | - | - | - | - | 132,000 | 0.75% | |||||
Subordinated notes | 111,000 | 6.50% | 111,000 | 6.50% | - | - | |||||
Trust preferred subordinated debentures | 113,406 | 2.17% | 113,406 | 2.24% | 113,406 | 2.48% | |||||
Total borrowings | $ | 1,250,036 | $ | 2,171,567 | $ | 1,881,522 | |||||
Maximum outstanding at any month end | $ | 1,859,036 | $ | 2,432,945 | $ | 1,986,324 | |||||
Schedule of borrowing capacities | ' | ||||||||||
2013 | 2012 | 2011 | |||||||||
FHLB borrowing capacity relating to loans | $ | 693,302 | $ | 267,542 | $ | 4,524 | |||||
FHLB borrowing capacity relating to securities | 8,482 | 33,204 | 15,909 | ||||||||
Total FHLB borrowing capacity | $ | 701,784 | $ | 300,746 | $ | 20,433 | |||||
Unused federal funds lines available from commercial banks | $ | 890,000 | $ | 706,000 | $ | 390,720 | |||||
Schedule of maturities of the borrowings | ' | ||||||||||
Within One Year | After One But Within Three Years | After Three But Within Five Years | After Five Years | Total | |||||||
Federal funds purchased(1) | $ | 148,650 | $ | - | $ | - | $ | - | $ | 148,650 | |
Customer repurchase agreements(1) | 21,954 | - | - | - | 21,954 | ||||||
FHLB borrowings(1) | 840,000 | 26 | - | - | 840,026 | ||||||
Line of credit | 15,000 | - | - | - | 15,000 | ||||||
Subordinated notes(1) | - | - | - | 111,000 | 111,000 | ||||||
Trust preferred subordinated debentures(1) | - | - | - | 113,406 | 113,406 | ||||||
Total borrowings | $ | 1,025,604 | $ | 26 | $ | - | $ | 224,406 | $ | 1,250,036 |
Trust_Preferred_Subordinated_D1
Trust Preferred Subordinated Debentures (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Trust Preferred Subordinated Debentures [Abstract] | ' | ||||||
Schedule of details of the trust preferred subordinated debentures | ' | ||||||
Texas Capital Bancshares Statutory Trust I | Texas Capital Statutory Trust II | Texas Capital Statutory Trust III | Texas Capital Statutory Trust IV | Texas Capital Statutory Trust V | |||
Date issued | 19-Nov-02 | 10-Apr-03 | 6-Oct-05 | 28-Apr-06 | 29-Sep-06 | ||
Trust preferred securities issued | $10,310 | $10,310 | $25,774 | $25,774 | $41,238 | ||
Floating or fixed rate securities | Floating | Floating | Floating | Floating | Floating | ||
Interest rate on subordinated debentures | 3 month LIBOR + 3.35% | 3 month LIBOR + 3.25% | 3 month LIBOR + 1.51% | 3 month LIBOR + 1.60% | 3 month LIBOR + 1.71% | ||
Maturity date | Nov-32 | Apr-33 | Dec-35 | Jun-36 | Dec-36 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Schedule of components of income tax expense | ' | |||||||
Year ended December 31 | ||||||||
2013 | 2012 | 2011 | ||||||
Current: | ||||||||
Federal | $ | 76,481 | $ | 69,092 | $ | 47,799 | ||
State | 1,878 | 1,885 | 1,183 | |||||
Total | $ | 78,359 | $ | 70,977 | $ | 48,982 | ||
Deferred | ||||||||
Federal | $ | -11,599 | $ | -3,131 | $ | -6,927 | ||
State | - | - | 245 | |||||
Total | $ | -11,599 | $ | -3,131 | $ | -6,682 | ||
Total expense | ||||||||
Federal | $ | 64,882 | $ | 65,961 | $ | 40,872 | ||
State | 1,878 | 1,885 | 1,428 | |||||
Total | $ | 66,760 | $ | 67,846 | $ | 42,300 | ||
2013 | 2012 | 2011 | ||||||
Total expense (benefit): | ||||||||
From continuing operations | $ | 66,757 | $ | 67,866 | $ | 42,366 | ||
From discontinued operations | 3 | -20 | -66 | |||||
Total | $ | 66,760 | $ | 67,846 | $ | 42,300 | ||
Schedule of deferred tax assets and liabilities | ' | |||||||
31-Dec | ||||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for credit losses | $ | 32,752 | $ | 27,725 | ||||
Loan origination fees | 11,580 | 8,991 | ||||||
Stock compensation | 10,786 | 5,777 | ||||||
Mark to market on mortgage loans | 220 | 245 | ||||||
Reserve for potential mortgage loan repurchases | 20 | 20 | ||||||
Non-accrual interest | 1,907 | 2,739 | ||||||
Deferred lease expense | 1,316 | 957 | ||||||
OREO valuation allowance | 499 | 3,168 | ||||||
Other | 1,157 | 1,452 | ||||||
Total deferred tax assets | 60,237 | 51,074 | ||||||
Deferred tax liabilities: | ||||||||
Loan origination costs | -1,048 | -1,113 | ||||||
Leases | -6,587 | -9,077 | ||||||
Depreciation | -1,183 | -1,077 | ||||||
Unrealized gain on securities | -877 | -1,762 | ||||||
Other | -1,819 | -1,769 | ||||||
Total deferred tax liabilities | -11,514 | -14,798 | ||||||
Net deferred tax asset | $ | 48,723 | $ | 36,276 | ||||
Schedule of effective income tax rate reconciliation | ' | |||||||
Year ended December 31 | ||||||||
2013 | 2012 | 2011 | ||||||
Tax at U.S. statutory rate | 35% | 35% | 35% | |||||
State taxes | 1% | 1% | 1% | |||||
Non-deductible expenses | 1% | 1% | 1% | |||||
Non-taxable income | -1% | -1% | -1% | |||||
Total | 36% | 36% | 36% |
Employee_Benefits_Tables
Employee Benefits (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Employee Benefits [Abstract] | ' | |||||||||||||
Schedule of weighted-average assumptions | ' | |||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Risk-free rate | 1.17% | 0.76% | 1.83% | |||||||||||
Market price volatility factor | 0.409 | 0.404 | 0.414 | |||||||||||
Weighted-average expected life of options | 5 years | 5 years | 5 years | |||||||||||
Schedule of stock options activity | ' | |||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||
Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | Options | Weighted Average Exercise Price | |||||||||
Options outstanding at beginning of year | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | 943,820 | $ | 12.62 | |||||
Options exercised | -119,162 | 11.14 | -391,348 | 12.74 | -374,410 | 12 | ||||||||
Options forfeited | - | - | -4,000 | 19.37 | - | - | ||||||||
Options outstanding at year-end | 54,900 | $ | 18.65 | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | |||||
Options vested and exercisable at year-end | 54,900 | $ | 18.65 | 174,062 | $ | 13.51 | 569,410 | $ | 13.02 | |||||
Intrinsic value of options vested and exercisable | $ | 2,391,014 | $ | 5,450,620 | $ | 10,015,721 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
options vested and exercisable (in years) | 0.97 | 1.15 | 2.06 | |||||||||||
Intrinsic value of options exercised | $ | 4,176,787 | $ | 10,246,387 | $ | 5,496,861 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
options currently outstanding (in years) | 0.97 | 1.15 | 2.06 | |||||||||||
Schedule of stock appreciation rights activity | ' | |||||||||||||
31-Dec-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||
SARs | Weighted Average Exercise Price | SARs / PSARs | Weighted Average Exercise Price | SARs / PSARs | Weighted Average Exercise Price | |||||||||
SARs outstanding at beginning of year | 640,220 | $ | 20.9 | 983,700 | $ | 19.56 | 1,213,257 | $ | 19.42 | |||||
SARs granted | 53,500 | 43.73 | 36,000 | 44.94 | 33,000 | 24.7 | ||||||||
SARs exercised | -134,271 | 19.21 | -345,480 | 19.44 | -236,610 | 19.86 | ||||||||
SARs forfeited | -22,300 | 18.99 | -34,000 | 24.79 | -25,947 | 16.56 | ||||||||
SARs outstanding at year-end | 537,149 | $ | 23.68 | 640,220 | $ | 20.9 | 983,700 | $ | 19.56 | |||||
SARs vested and exercisable at year-end | 384,974 | $ | 20.64 | 446,970 | $ | 20.41 | 687,175 | $ | 20.29 | |||||
Weighted average remaining contractual life of | ||||||||||||||
SARs vested | 3.46 | 4.25 | 5.24 | |||||||||||
Compensation expense | $ | 564,000 | $ | 704,000 | $ | 1,272,000 | ||||||||
Weighted average fair value of SARs granted | ||||||||||||||
during 2013, 2012 and 2011 (in years) | $ | 16.26 | $ | 16.21 | $ | 9.54 | ||||||||
Fair value of shares vested during the year | $ | 566,341 | $ | 758,543 | $ | 1,612,435 | ||||||||
Weighted average remaining contractual life of | ||||||||||||||
SARs currently outstanding (in years) | 4.68 | 5.19 | 5.95 | |||||||||||
Schedule of restricted stock units activity | ' | |||||||||||||
Non-Vested Stock Awards Outstanding | ||||||||||||||
Number of Shares | Weighted-Average Grant-Date Fair Value | |||||||||||||
Balance, January 1, 2011 | 897,351 | $ | 14.64 | |||||||||||
Granted | 165,891 | 24.77 | ||||||||||||
Vested and issued | -364,065 | 16.07 | ||||||||||||
Forfeited | -37,685 | 18.7 | ||||||||||||
Balance, December 31, 2011 | 661,492 | 17.44 | ||||||||||||
Granted | 105,000 | 39.89 | ||||||||||||
Vested and issued | -311,410 | 18.82 | ||||||||||||
Forfeited | -43,163 | 25.25 | ||||||||||||
Balance, December 31, 2012 | 411,919 | 23.8 | ||||||||||||
Granted | 163,500 | 45.35 | ||||||||||||
Vested and issued | -151,480 | 20.47 | ||||||||||||
Forfeited | -20,200 | 24.96 | ||||||||||||
Balance, December 31, 2013 | 403,739 | $ | 33.72 |
Financial_Instruments_with_Off1
Financial Instruments with Off-Balance Sheet Risk (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ' | ||||
Schedule of financial instruments with off-balance sheet risk | ' | ||||
31-Dec | |||||
2013 | 2012 | ||||
Commitments to extend credit | $ | 3,674,391 | $ | 2,648,454 | |
Standby letters of credit | 145,662 | 83,429 |
Regulatory_Restrictions_Tables
Regulatory Restrictions (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Regulatory Restrictions [Abstract] | ' | ||||||||||
Schedule of compliance with Regulatory Capital Requirements | ' | ||||||||||
Actual | For Capital Adequacy Purposes | To Be Well Capitalized Under Prompt Corrective Action Provisions | |||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||
As of December 31, 2013: | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,387,312 | 10.73% | $ | 1,034,721 | 8.00% | N/A | N/A | |||
Bank | 1,328,227 | 10.27% | 1,034,406 | 8.00% | $ | 1,293,007 | 10.00% | ||||
Tier 1 capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,184,018 | 9.15% | $ | 517,361 | 4.00% | N/A | N/A | |||
Bank | 975,933 | 7.55% | 517,203 | 4.00% | $ | 775,804 | 6.00% | ||||
Tier 1 capital (to average assets): | |||||||||||
Company | $ | 1,184,018 | 10.87% | $ | 435,750 | 4.00% | N/A | N/A | |||
Bank | 975,933 | 8.96% | 435,601 | 4.00% | $ | 544,502 | 5.00% | ||||
As of December 31, 2012: | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||
Company | $ | 1,112,924 | 9.97% | $ | 893,231 | 8.00% | N/A | N/A | |||
Bank | 948,328 | 8.50% | 892,806 | 8.00% | $ | 1,116,008 | 10.00% | ||||
Tier 1 capital (to risk-weighted assets): | |||||||||||
Company | $ | 923,677 | 8.27% | $ | 446,616 | 4.00% | N/A | N/A | |||
Bank | 800,081 | 7.17% | 446,403 | 4.00% | $ | 669,605 | 6.00% | ||||
Tier 1 capital (to average assets): | |||||||||||
Company | $ | 923,677 | 9.41% | $ | 392,649 | 4.00% | N/A | N/A | |||
Bank | 800,081 | 8.16% | 392,433 | 4.00% | $ | 490,541 | 5.00% |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Share [Abstract] | ' | |||||||||
Schedule of computation of basic and diluted earnings per share | ' | |||||||||
Year ended December | ||||||||||
2013 | 2012 | 2011 | ||||||||
Numerator: | ||||||||||
Net income from continuing operations | $ | 121,046 | $ | 120,709 | $ | 76,102 | ||||
Preferred stock dividends | 7,394 | - | - | |||||||
Net income from continuing operations available to common shareholders | 113,652 | 120,709 | 76,102 | |||||||
Gain (loss) from discontinued operations | 5 | -37 | -126 | |||||||
Net income | $ | 113,657 | $ | 120,672 | $ | 75,976 | ||||
Denominator: | ||||||||||
Denominator for basic earnings per share - weighted average shares | 40,864,225 | 39,046,340 | 37,334,743 | |||||||
Effect of employee stock-based awards(1) | 402,593 | 645,771 | 682,694 | |||||||
Effect of warrants to purchase common stock | 513,063 | 473,736 | 315,640 | |||||||
Denominator for dilutive earnings per share - adjusted weighted average | ||||||||||
shares and assumed conversions | 41,779,881 | 40,165,847 | 38,333,077 | |||||||
Basic earnings per common share from continuing operations | $ | 2.78 | $ | 3.09 | $ | 2.04 | ||||
Basic earnings per common share | $ | 2.78 | $ | 3.09 | $ | 2.03 | ||||
Diluted earnings per share from continuing operations | $ | 2.72 | $ | 3.01 | $ | 1.99 | ||||
Diluted earnings per common share | $ | 2.72 | $ | 3 | $ | 1.98 |
Fair_Value_Disclosures_Tables
Fair Value Disclosures (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||
Schedule of assets and liabilities measured at fair value on a recurring and nonrecurring basis | ' | |||||||||
31-Dec-13 | Fair Value Measurements Using | |||||||||
Level 1 | Level 2 | Level 3 | ||||||||
Available for sale securities:(1) | ||||||||||
Mortgage-backed securities | $ | - | $ | 41,462 | $ | - | ||||
Municipals | - | 14,505 | - | |||||||
Equity securities | - | 7,247 | - | |||||||
Loans(2) (4) | - | - | 13,474 | |||||||
OREO(3) (4) | - | - | 5,110 | |||||||
Derivative asset(5) | - | 9,317 | - | |||||||
Derivative liability(5) | - | -9,317 | - | |||||||
31-Dec-12 | Fair Value Measurements Using | |||||||||
Level 1 | Level 2 | Level 3 | ||||||||
Available for sale securities:(1) | ||||||||||
Mortgage-backed securities | $ | - | $ | 61,581 | $ | - | ||||
Corporate securities | - | 5,080 | - | |||||||
Municipals | - | 25,894 | - | |||||||
Equity securities | - | 7,640 | - | |||||||
Loans(2) (4) | - | - | 11,639 | |||||||
OREO(3) (4) | - | - | 15,991 | |||||||
Derivative asset(5) | - | 28,473 | - | |||||||
Derivative liability(5) | - | -28,473 | - | |||||||
Schedule of a summary of the carrying amounts and estimated fair values of financial instruments | ' | |||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Carrying | Estimated | Carrying | Estimated | |||||||
Amount | Fair Value | Amount | Fair Value | |||||||
Cash and cash equivalents | $ | 153,911 | $ | 153,911 | $ | 206,348 | $ | 206,348 | ||
Securities, available-for-sale | 63,214 | 63,214 | 100,195 | 100,195 | ||||||
Loans held for sale from discontinued operations | 294 | 294 | 302 | 302 | ||||||
Loans held for investment, net | 11,182,970 | 11,179,145 | 9,886,470 | 9,889,303 | ||||||
Derivative asset | 9,317 | 9,317 | 28,473 | 28,473 | ||||||
Deposits | 9,257,379 | 9,257,574 | 7,440,804 | 7,441,240 | ||||||
Federal funds purchased | 148,650 | 148,650 | 273,179 | 273,179 | ||||||
Other borrowings | 876,980 | 861,981 | 1,673,982 | 1,673,983 | ||||||
Subordinated notes | 111,000 | 96,647 | 111,000 | 112,757 | ||||||
Trust preferred subordinated debentures | 113,406 | 113,406 | 113,406 | 113,406 | ||||||
Derivative liability | 9,317 | 9,317 | 28,473 | 28,473 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Commitments and Contingencies [Abstract] | ' | ||
Schedule of minimum future lease payments under operating leases | ' | ||
Year ending December 31, | Minimum Payments | ||
2014 | $ | 13,483 | |
2015 | 14,136 | ||
2016 | 14,085 | ||
2017 | 14,038 | ||
2018 | 13,960 | ||
2019 and thereafter | 62,335 | ||
$ | 132,037 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Discontinued Operations [Abstract] | ' | ||||||
Schedule of the results of operations of the discontinued components | ' | ||||||
Year ended December 31 | |||||||
2013 | 2012 | 2011 | |||||
Revenues | $ | 27 | $ | -26 | $ | 58 | |
Expenses | 19 | 31 | 250 | ||||
Income (loss) before income taxes | 8 | -57 | -192 | ||||
Income tax expense (benefit) | 3 | -20 | -66 | ||||
Income (loss) from discontinued operations | $ | 5 | $ | -37 | $ | -126 |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||
Schedule of notional amounts and estimated fair values of interest rate derivatives | ' | |||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Notional Amount | Estimated Fair Value | Notional Amount | Estimated Fair Value | |||||||
Non-hedging interest rate derivative: | ||||||||||
Commercial loan/lease interest rate swaps | $ | 764,939 | $ | 8,652 | $ | 523,216 | $ | 28,469 | ||
Commercial loan/lease interest rate swaps | -764,939 | -8,652 | -523,216 | -28,469 | ||||||
Commercial loan/lease interest rate caps | -58,706 | -665 | -42,380 | -4 | ||||||
Commercial loan/lease interest rate caps | 58,706 | 665 | 42,380 | 4 | ||||||
Schedule of the weighted-average receive and pay interest rate swaps | ' | |||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Weighted-Average Interest Rate | Weighted-Average Interest Rate | |||||||||
Received | Paid | Received | Paid | |||||||
Non-hedging interest rate swaps | 2.99% | 4.89% | 4.76% | 3.11% |
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||
Schedule of Quarterly Financial Information | ' | |||||||||
2013 Selected Quarterly Financial Data | ||||||||||
Fourth | Third | Second | First | |||||||
Interest income | $ | 117,965 | $ | 115,217 | $ | 107,264 | $ | 104,179 | ||
Interest expense | 6,490 | 6,441 | 6,044 | 6,137 | ||||||
Net interest income | 111,475 | 108,776 | 101,220 | 98,042 | ||||||
Provision for credit losses | 5,000 | 5,000 | 7,000 | 2,000 | ||||||
Net interest income after provision for credit losses | 106,475 | 103,776 | 94,220 | 96,042 | ||||||
Non-interest income | 11,184 | 10,431 | 11,128 | 11,281 | ||||||
Non-interest expense | 70,291 | 62,009 | 68,734 | 55,700 | ||||||
Income from continuing operations before income taxes | 47,368 | 52,198 | 36,614 | 51,623 | ||||||
Income tax expense | 17,012 | 18,724 | 12,542 | 18,479 | ||||||
Income from continuing operations | 30,356 | 33,474 | 24,072 | 33,144 | ||||||
Loss from discontinued operations (after-tax) | 3 | 2 | 1 | -1 | ||||||
Net income | 30,359 | 33,476 | 24,073 | 33,143 | ||||||
Preferred stock dividends | 2,438 | 2,437 | 2,438 | 81 | ||||||
Net income available to common shareholders | $ | 27,921 | $ | 31,039 | $ | 21,635 | $ | 33,062 | ||
Basic earnings per share: | ||||||||||
Income from continuing operations | $ | 0.68 | $ | 0.76 | $ | 0.53 | $ | 0.82 | ||
Net income | $ | 0.68 | $ | 0.76 | $ | 0.53 | $ | 0.82 | ||
Diluted earnings per share: | ||||||||||
Income from continuing operations | $ | 0.67 | $ | 0.74 | $ | 0.52 | $ | 0.8 | ||
Net income | $ | 0.67 | $ | 0.74 | $ | 0.52 | $ | 0.8 | ||
Average shares | ||||||||||
Basic | 40,983,000 | 40,902,000 | 40,814,000 | 40,474,000 | ||||||
Diluted | 41,889,000 | 41,792,000 | 41,724,000 | 41,429,000 | ||||||
(In thousands except per share and average share data) | 2012 Selected Quarterly Financial Data | |||||||||
Fourth | Third | Second | First | |||||||
Interest income | $ | 107,769 | $ | 102,011 | $ | 95,546 | $ | 93,131 | ||
Interest expense | 6,614 | 5,156 | 4,906 | 4,902 | ||||||
Net interest income | 101,155 | 96,855 | 90,640 | 88,229 | ||||||
Provision for credit losses | 4,500 | 3,000 | 1,000 | 3,000 | ||||||
Net interest income after provision for credit losses | 96,655 | 93,855 | 89,640 | 85,229 | ||||||
Non-interest income | 12,836 | 10,552 | 10,462 | 9,190 | ||||||
Non-interest expense | 60,074 | 53,521 | 53,973 | 52,276 | ||||||
Income from continuing operations before income taxes | 49,417 | 50,886 | 46,129 | 42,143 | ||||||
Income tax expense | 17,982 | 18,316 | 16,506 | 15,062 | ||||||
Income from continuing operations | 31,435 | 32,570 | 29,623 | 27,081 | ||||||
Loss from discontinued operations (after-tax) | -6 | -34 | -1 | 4 | ||||||
Net income | $ | 31,429 | $ | 32,536 | $ | 29,622 | $ | 27,085 | ||
Basic earnings per share: | ||||||||||
Income from continuing operations | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 0.72 | ||
Net income | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 0.72 | ||
Diluted earnings per share: | ||||||||||
Income from continuing operations | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 0.7 | ||
Net income | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 0.7 | ||
Average shares | ||||||||||
Basic | 40,446,000 | 39,618,000 | 38,013,000 | 37,795,000 | ||||||
Diluted | 41,505,000 | 40,756,000 | 39,142,000 | 38,914,000 |
Securities_Details
Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of Available-for-Sale Securities | ' | ' |
Amortized Cost | $60,709 | $95,161 |
Gross Unrealized Gains | 2,780 | 5,034 |
Gross Unrealized Losses | -275 | 0 |
Estimated Fair Value | 63,214 | 100,195 |
Residential mortgage-backed securities | ' | ' |
Summary of Available-for-Sale Securities | ' | ' |
Amortized Cost | 38,786 | 57,342 |
Gross Unrealized Gains | 2,676 | 4,239 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 41,462 | 61,581 |
Corporate securities | ' | ' |
Summary of Available-for-Sale Securities | ' | ' |
Amortized Cost | ' | 5,000 |
Gross Unrealized Gains | ' | 80 |
Gross Unrealized Losses | ' | 0 |
Estimated Fair Value | ' | 5,080 |
Municipals | ' | ' |
Summary of Available-for-Sale Securities | ' | ' |
Amortized Cost | 14,401 | 25,300 |
Gross Unrealized Gains | 104 | 594 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 14,505 | 25,894 |
Equity securities | ' | ' |
Summary of Available-for-Sale Securities | ' | ' |
Amortized Cost | 7,522 | 7,519 |
Gross Unrealized Gains | 0 | 121 |
Gross Unrealized Losses | -275 | 0 |
Estimated Fair Value | $7,247 | $7,640 |
Securities_Details_1
Securities (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
The amortized cost and fair value of available-for-sale securites by maturity | ' | ' | ' |
Amortized cost, Total | $60,709,000 | $95,161,000 | ' |
Estimated Fair Value | 63,214,000 | 100,195,000 | ' |
Available-for-sale Securities, Other Disclosure Items | ' | ' | ' |
Available-for-sale Securities, Average Expected Life | '1 year 5 months | '1 year 7 months | ' |
Federal Tax Rate | 35.00% | 35.00% | 35.00% |
Available-for-sale Securities Pledged as Collateral | 45,993,000 | 45,449,000 | ' |
Residential mortgage-backed securities | ' | ' | ' |
The amortized cost and fair value of available-for-sale securites by maturity | ' | ' | ' |
Amortized cost, Less Than One Year | 238,000 | 656,000 | ' |
Amortized cost, After One Through Five Years | 14,720,000 | 5,698,000 | ' |
Amortized cost, After Five Through Ten Years | 7,718,000 | 23,111,000 | ' |
Amortized cost, After Ten Years | 16,110,000 | 27,877,000 | ' |
Amortized cost, Total | 38,786,000 | 57,342,000 | ' |
Estimated fair value, Less Than One Year | 252,000 | 690,000 | ' |
Estimated fair value, After One Through Five Years | 15,641,000 | 6,113,000 | ' |
Estimated fair value, After Five Through Ten Years | 8,456,000 | 24,948,000 | ' |
Estimated fair value, After Ten Years | 17,113,000 | 29,830,000 | ' |
Estimated Fair Value | 41,462,000 | 61,581,000 | ' |
Weighted average yield, Less Than One Year | 4.32% | 4.20% | ' |
Weighted average yield, After One Through Five Years | 4.78% | 5.29% | ' |
Weighted average yield, After Five Through Ten Years | 5.56% | 4.86% | ' |
Weighted average yield, After Ten Years | 2.40% | 3.41% | ' |
Weighted average yield, Total | 3.94% | 4.19% | ' |
Corporate securities | ' | ' | ' |
The amortized cost and fair value of available-for-sale securites by maturity | ' | ' | ' |
Amortized cost, Less Than One Year | ' | 0 | ' |
Amortized cost, After One Through Five Years | ' | 5,000,000 | ' |
Amortized cost, After Five Through Ten Years | ' | 0 | ' |
Amortized cost, After Ten Years | ' | 0 | ' |
Amortized cost, Total | ' | 5,000,000 | ' |
Estimated fair value, Less Than One Year | ' | 0 | ' |
Estimated fair value, After One Through Five Years | ' | 5,080,000 | ' |
Estimated fair value, After Five Through Ten Years | ' | 0 | ' |
Estimated fair value, After Ten Years | ' | 0 | ' |
Estimated Fair Value | ' | 5,080,000 | ' |
Weighted average yield, Less Than One Year | ' | 0.00% | ' |
Weighted average yield, After One Through Five Years | ' | 7.38% | ' |
Weighted average yield, After Five Through Ten Years | ' | 0.00% | ' |
Weighted average yield, After Ten Years | ' | 0.00% | ' |
Weighted average yield, Total | ' | 7.38% | ' |
Municipals | ' | ' | ' |
The amortized cost and fair value of available-for-sale securites by maturity | ' | ' | ' |
Amortized cost, Less Than One Year | 7,749,000 | 6,575,000 | ' |
Amortized cost, After One Through Five Years | 6,652,000 | 16,448,000 | ' |
Amortized cost, After Five Through Ten Years | 0 | 2,277,000 | ' |
Amortized cost, After Ten Years | 0 | 0 | ' |
Amortized cost, Total | 14,401,000 | 25,300,000 | ' |
Estimated fair value, Less Than One Year | 7,818,000 | 6,646,000 | ' |
Estimated fair value, After One Through Five Years | 6,687,000 | 16,895,000 | ' |
Estimated fair value, After Five Through Ten Years | 0 | 2,353,000 | ' |
Estimated fair value, After Ten Years | 0 | 0 | ' |
Estimated Fair Value | 14,505,000 | 25,894,000 | ' |
Weighted average yield, Less Than One Year | 5.76% | 5.75% | ' |
Weighted average yield, After One Through Five Years | 5.71% | 5.66% | ' |
Weighted average yield, After Five Through Ten Years | 0.00% | 6.01% | ' |
Weighted average yield, After Ten Years | 0.00% | 0.00% | ' |
Weighted average yield, Total | 5.73% | 5.72% | ' |
Equity securities | ' | ' | ' |
The amortized cost and fair value of available-for-sale securites by maturity | ' | ' | ' |
Amortized cost, Less Than One Year | 7,522,000 | 7,519,000 | ' |
Amortized cost, After One Through Five Years | 0 | 0 | ' |
Amortized cost, After Five Through Ten Years | 0 | 0 | ' |
Amortized cost, After Ten Years | 0 | 0 | ' |
Amortized cost, Total | 7,522,000 | 7,519,000 | ' |
Estimated fair value, Less Than One Year | 7,247,000 | 7,640,000 | ' |
Estimated fair value, After One Through Five Years | 0 | 0 | ' |
Estimated fair value, After Five Through Ten Years | 0 | 0 | ' |
Estimated fair value, After Ten Years | 0 | 0 | ' |
Estimated Fair Value | 7,247,000 | 7,640,000 | ' |
Deposits | ' | ' | ' |
Available-for-sale Securities, Other Disclosure Items | ' | ' | ' |
Available-for-sale Securities Pledged as Collateral | $8,273,000 | $21,500,000 | ' |
Securities_Details_2
Securities (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Available-for-sale Securities, Continuous Unrealized Loss Position | ' | ' | ' |
Fair Value, Less Than 12 Months | $7,247 | ' | ' |
Unrealized Loss, Less Than 12 Months | -275 | ' | ' |
Fair Value, 12 Months or Longer | 0 | ' | ' |
Unrealized Loss, 12 Months or Longer | 0 | ' | ' |
Fair Value, Total | 7,247 | ' | ' |
Unrealized Loss, Total | -275 | ' | ' |
Comprehensive income | 119,407 | 119,222 | 75,343 |
Change in unrealized gain on available-for-sale securities, net of taxes of $341,$781,$885 in year 2011, 2012 and 2013 respectively (unaudited) | ($1,644) | ($1,450) | ($633) |
Loans_and_Allowance_for_Credit2
Loans and Allowance for Credit Losses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Loans and Leases Receivable, Net Reported Amount | ' | ' | ' |
Commercial | $5,020,565 | $4,106,419 | ' |
Mortgage Finance | 2,784,265 | 3,175,272 | ' |
Construction | 1,262,905 | 737,637 | ' |
Real Estate | 2,146,228 | 1,892,451 | ' |
Consumer | 15,350 | 19,493 | ' |
Leases | 93,160 | 69,470 | ' |
Gross loans held for investment | 11,322,473 | 10,000,742 | ' |
Deferred inocme (net of origination costs) | -51,899 | -39,935 | ' |
Allowance for loan losses | -87,604 | -74,337 | -70,295 |
Loans held for investment, net | 11,182,970 | 9,886,470 | ' |
Total | $11,182,970 | $9,886,470 | ' |
Loans_and_Allowances_for_Credi
Loans and Allowances for Credit Losses - Credit Risk Profile (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Commercial | $5,020,565 | $4,106,419 |
Mortgage Finance | 2,784,265 | 3,175,272 |
Construction | 1,262,905 | 737,637 |
Real Estate | 2,146,228 | 1,892,451 |
Consumer | 15,350 | 19,493 |
Leases | 93,160 | 69,470 |
Total | 11,322,473 | 10,000,742 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Commercial | 4,908,944 | 4,013,538 |
Mortgage Finance | 2,784,265 | 3,175,272 |
Construction | 1,261,995 | 703,673 |
Real Estate | 2,099,450 | 1,816,027 |
Consumer | 15,251 | 19,436 |
Leases | 89,317 | 68,327 |
Total | 11,159,222 | 9,796,273 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Commercial | 24,132 | 33,137 |
Mortgage Finance | 0 | 0 |
Construction | 102 | 11,957 |
Real Estate | 6,338 | 12,461 |
Consumer | 0 | 0 |
Leases | 51 | 919 |
Total | 30,623 | 58,474 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Commercial | 74,593 | 44,371 |
Mortgage Finance | 0 | 0 |
Construction | 103 | 4,790 |
Real Estate | 21,770 | 40,897 |
Consumer | 45 | 0 |
Leases | 3,742 | 104 |
Total | 100,253 | 90,162 |
Non-accrual [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Commercial | 12,896 | 15,373 |
Mortgage Finance | 0 | 0 |
Construction | 705 | 17,217 |
Real Estate | 18,670 | 23,066 |
Consumer | 54 | 57 |
Leases | 50 | 120 |
Total | $32,375 | $55,833 |
Loans_and_Allowance_for_Credit3
Loans and Allowance for Credit Losses (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | $74,337,000 | $70,295,000 | ' |
Provision for possible loan losses | 18,165,000 | 10,107,000 | ' |
Loans charged-off | -6,766,000 | -7,860,000 | ' |
Recoveries | 1,868,000 | 1,795,000 | ' |
Net charge-offs | 4,898,000 | 6,065,000 | ' |
Ending balance | 87,604,000 | 74,337,000 | 70,295,000 |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 3,174,000 | 3,930,000 | ' |
Loans collectively evaluated for impairment | 84,430,000 | 70,407,000 | ' |
Interest Income Recognized | 2,400,000 | 2,600,000 | 2,200,000 |
Additional interest income lost on non-accrual loans | 2,500,000 | 2,400,000 | 5,900,000 |
Nonaccrual loans earning on a cash basis | 17,800,000 | ' | ' |
Commercial | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 21,547,000 | 17,337,000 | ' |
Provision for possible loan losses | 23,693,000 | 10,086,000 | ' |
Loans charged-off | -6,575,000 | -6,708,000 | ' |
Recoveries | 1,203,000 | 832,000 | ' |
Net charge-offs | 5,372,000 | 5,876,000 | ' |
Ending balance | 39,868,000 | 21,547,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 2,015,000 | 2,983,000 | ' |
Loans collectively evaluated for impairment | 37,853,000 | 18,564,000 | ' |
Mortgage Finance | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 0 | 0 | ' |
Provision for possible loan losses | 0 | 0 | ' |
Loans charged-off | 0 | 0 | ' |
Recoveries | 0 | 0 | ' |
Net charge-offs | 0 | 0 | ' |
Ending balance | 0 | 0 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | 0 | 0 | ' |
Construction | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 12,097,000 | 7,845,000 | ' |
Provision for possible loan losses | 2,456,000 | 4,242,000 | ' |
Loans charged-off | 0 | 0 | ' |
Recoveries | 0 | 10,000 | ' |
Net charge-offs | 0 | -10,000 | ' |
Ending balance | 14,553,000 | 12,097,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 14,000 | ' |
Loans collectively evaluated for impairment | 14,553,000 | 12,083,000 | ' |
Real Estate | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 30,893,000 | 33,721,000 | ' |
Provision for possible loan losses | -6,809,000 | -2,741,000 | ' |
Loans charged-off | -144,000 | -899,000 | ' |
Recoveries | 270,000 | 812,000 | ' |
Net charge-offs | -126,000 | 87,000 | ' |
Ending balance | 24,210,000 | 30,893,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 1,143,000 | 899,000 | ' |
Loans collectively evaluated for impairment | 23,067,000 | 29,994,000 | ' |
Consumer | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 226,000 | 223,000 | ' |
Provision for possible loan losses | -105,000 | 19,000 | ' |
Loans charged-off | -45,000 | -49,000 | ' |
Recoveries | 73,000 | 33,000 | ' |
Net charge-offs | -28,000 | 16,000 | ' |
Ending balance | 149,000 | 226,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 8,000 | 16,000 | ' |
Loans collectively evaluated for impairment | 141,000 | 210,000 | ' |
Leases | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 2,460,000 | 2,356,000 | ' |
Provision for possible loan losses | 325,000 | 200,000 | ' |
Loans charged-off | -2,000 | -204,000 | ' |
Recoveries | 322,000 | 108,000 | ' |
Net charge-offs | -320,000 | 96,000 | ' |
Ending balance | 3,105,000 | 2,460,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 8,000 | 18,000 | ' |
Loans collectively evaluated for impairment | 3,097,000 | 2,442,000 | ' |
Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 7,114,000 | 8,813,000 | ' |
Provision for possible loan losses | -1,395,000 | -1,699,000 | ' |
Loans charged-off | 0 | 0 | ' |
Recoveries | 0 | 0 | ' |
Net charge-offs | 0 | 0 | ' |
Ending balance | 5,719,000 | 7,114,000 | ' |
Period end amount allocated to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | $5,719,000 | $7,114,000 | ' |
Loans_and_Allowance_for_Credit4
Loans and Allowance for Credit Losses (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | $39,976 | $66,241 |
Loans collectively evaluated for impairment | 11,282,497 | 9,934,501 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 15,140 | 15,373 |
Loans collectively evaluated for impairment | 5,005,425 | 4,091,046 |
Mortgage Finance | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 2,784,265 | 3,175,272 |
Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 705 | 18,179 |
Loans collectively evaluated for impairment | 1,262,200 | 719,458 |
Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 24,027 | 32,512 |
Loans collectively evaluated for impairment | 2,122,201 | 1,859,939 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 54 | 57 |
Loans collectively evaluated for impairment | 15,296 | 19,436 |
Leases | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans individually evaluated for impairment | 50 | 120 |
Loans collectively evaluated for impairment | $93,110 | $69,350 |
Loans_and_Allowance_for_Credit5
Loans and Allowance for Credit Losses (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loan and Lease Receivables, Impaired [Abstract] | ' | ' | ' |
Interest income recognized on non-accrual loans | $2,400,000 | $2,600,000 | $2,200,000 |
Additional interest income lost on non-accrual loans | 2,500,000 | 2,400,000 | 5,900,000 |
Nonaccrual loans earning on a cash basis | 17,800,000 | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 32,375,000 | ' | ' |
Commercial | Business loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 12,896,000 | ' | ' |
Commercial | Energy | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 0 | ' | ' |
Construction | Market risk | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 705,000 | ' | ' |
Real estate | Market risk | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 15,607,000 | ' | ' |
Real estate | Commercial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 508,000 | ' | ' |
Real estate | Secured by 1-4 family | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 2,555,000 | ' | ' |
Consumer | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | 54,000 | ' | ' |
Leases | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total non-accrual loans | $50,000 | ' | ' |
Loans_and_Allowance_for_Credit6
Loans and Allowance for Credit Losses (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Interest Income Recognized | $2,400 | $2,600 | $2,200 |
Secured by 1-4 family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Related Allowance | ' | 0 | ' |
Construction | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | ' | 0 | ' |
Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | ' | 57 | ' |
With no related allowance recorded | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 19,676 | 38,452 | ' |
Unpaid Principal Balance | 21,505 | 38,452 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 26,063 | 36,202 | ' |
Interest Income Recognized | 114 | 677 | ' |
With no related allowance recorded | Commercial | Business loans | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,005 | 2,938 | ' |
Unpaid Principal Balance | 2,005 | 2,938 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 4,265 | 1,409 | ' |
Interest Income Recognized | 0 | 0 | ' |
With no related allowance recorded | Commercial | Energy | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 1,614 | ' | ' |
Unpaid Principal Balance | 3,443 | ' | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 969 | ' | ' |
Interest Income Recognized | 0 | ' | ' |
With no related allowance recorded | Construction | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 705 | 17,217 | ' |
Unpaid Principal Balance | 705 | 17,217 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 3,111 | 18,571 | ' |
Interest Income Recognized | 114 | 677 | ' |
With no related allowance recorded | Real estate | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 13,524 | 9,061 | ' |
Unpaid Principal Balance | 13,524 | 9,061 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 9,796 | 7,944 | ' |
Interest Income Recognized | 0 | 0 | ' |
With no related allowance recorded | Real estate | Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 508 | 6,604 | ' |
Unpaid Principal Balance | 508 | 6,604 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 5,458 | 6,451 | ' |
Interest Income Recognized | 0 | 0 | ' |
With no related allowance recorded | Real estate | Secured by 1-4 family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 1,320 | 2,632 | ' |
Unpaid Principal Balance | 1,320 | 2,632 | ' |
Related Allowance | 0 | ' | ' |
Average Recorded Investment | 2,464 | 1,827 | ' |
Interest Income Recognized | 0 | 0 | ' |
With no related allowance recorded | Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 0 | 0 | ' |
Unpaid Principal Balance | 0 | ' | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 0 | 0 | ' |
Interest Income Recognized | 0 | 0 | ' |
With no related allowance recorded | Leases | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 0 | 0 | ' |
Unpaid Principal Balance | 0 | 0 | ' |
Related Allowance | 0 | 0 | ' |
Average Recorded Investment | 0 | 0 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 20,300 | 27,789 | ' |
Unpaid Principal Balance | 21,665 | 33,745 | ' |
Related Allowance | 3,174 | 3,930 | ' |
Average Recorded Investment | 24,731 | 30,160 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Commercial | Business loans | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 11,060 | 12,435 | ' |
Unpaid Principal Balance | 12,425 | 18,391 | ' |
Related Allowance | 1,946 | 2,983 | ' |
Average Recorded Investment | 14,240 | 15,484 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Commercial | Energy | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 460 | ' | ' |
Unpaid Principal Balance | 460 | ' | ' |
Related Allowance | 69 | ' | ' |
Average Recorded Investment | 913 | ' | ' |
Interest Income Recognized | 0 | ' | ' |
With an allowance recorded | Construction | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 0 | 962 | ' |
Unpaid Principal Balance | 0 | 962 | ' |
Related Allowance | 0 | 14 | ' |
Average Recorded Investment | 160 | 321 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Real estate | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 6,289 | 11,439 | ' |
Unpaid Principal Balance | 6,289 | 11,439 | ' |
Related Allowance | 822 | 535 | ' |
Average Recorded Investment | 7,912 | 11,811 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Real estate | Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 0 | 2,013 | ' |
Unpaid Principal Balance | 0 | 2,013 | ' |
Related Allowance | 0 | 89 | ' |
Average Recorded Investment | 477 | 671 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Real estate | Secured by 1-4 family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,387 | 763 | ' |
Unpaid Principal Balance | 2,387 | 763 | ' |
Related Allowance | 321 | 275 | ' |
Average Recorded Investment | 914 | 1,632 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 54 | 57 | ' |
Unpaid Principal Balance | 54 | ' | ' |
Related Allowance | 8 | 16 | ' |
Average Recorded Investment | 43 | 59 | ' |
Interest Income Recognized | 0 | 0 | ' |
With an allowance recorded | Leases | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 50 | 120 | ' |
Unpaid Principal Balance | 50 | 120 | ' |
Related Allowance | 8 | 18 | ' |
Average Recorded Investment | 72 | 182 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 39,976 | 66,241 | ' |
Unpaid Principal Balance | 43,170 | 72,197 | ' |
Related Allowance | 3,174 | 3,930 | ' |
Average Recorded Investment | 50,794 | 66,362 | ' |
Interest Income Recognized | 114 | 677 | ' |
Combined | Commercial | Business loans | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 13,065 | 15,373 | ' |
Unpaid Principal Balance | 14,430 | 21,329 | ' |
Related Allowance | 1,946 | 2,983 | ' |
Average Recorded Investment | 18,505 | 16,893 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | Commercial | Energy | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,074 | ' | ' |
Unpaid Principal Balance | 3,903 | ' | ' |
Related Allowance | 69 | ' | ' |
Average Recorded Investment | 1,882 | ' | ' |
Interest Income Recognized | 0 | ' | ' |
Combined | Construction | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 705 | 18,179 | ' |
Unpaid Principal Balance | 705 | 18,179 | ' |
Related Allowance | 0 | 14 | ' |
Average Recorded Investment | 3,271 | 18,892 | ' |
Interest Income Recognized | 114 | 677 | ' |
Combined | Real estate | Market risk | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 19,813 | 20,500 | ' |
Unpaid Principal Balance | 19,813 | 20,500 | ' |
Related Allowance | 822 | 535 | ' |
Average Recorded Investment | 17,708 | 19,755 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | Real estate | Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 508 | 8,617 | ' |
Unpaid Principal Balance | 508 | 8,617 | ' |
Related Allowance | 0 | 89 | ' |
Average Recorded Investment | 5,935 | 7,122 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | Real estate | Secured by 1-4 family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 3,707 | 3,395 | ' |
Unpaid Principal Balance | 3,707 | 3,395 | ' |
Related Allowance | 321 | 275 | ' |
Average Recorded Investment | 3,378 | 3,459 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 54 | 57 | ' |
Unpaid Principal Balance | 54 | ' | ' |
Related Allowance | 8 | 16 | ' |
Average Recorded Investment | 43 | 59 | ' |
Interest Income Recognized | 0 | 0 | ' |
Combined | Leases | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 50 | 120 | ' |
Unpaid Principal Balance | 50 | 120 | ' |
Related Allowance | 8 | 18 | ' |
Average Recorded Investment | 72 | 182 | ' |
Interest Income Recognized | $0 | $0 | ' |
Loans_and_Allowance_for_Credit7
Loans and Allowance for Credit Losses (Details 5) (USD $) | Dec. 31, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | $59,056,000 |
60-89 Days Past Due | 12,318,000 |
Greater Than 90 Days | 9,325,000 |
Total Past Due | 80,699,000 |
Current | 11,209,399,000 |
Total loans held for investment | 11,290,098,000 |
Greater Than 90 Days and Accruing, premium finance loans | 3,800,000 |
Commercial | Business loans | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 29,946,000 |
60-89 Days Past Due | 7,683,000 |
Greater Than 90 Days | 7,528,000 |
Total Past Due | 45,157,000 |
Current | 4,027,409,000 |
Total loans held for investment | 4,072,566,000 |
Commercial | Energy | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 5,239,000 |
60-89 Days Past Due | 1,092,000 |
Greater Than 90 Days | 0 |
Total Past Due | 6,331,000 |
Current | 928,772,000 |
Total loans held for investment | 935,103,000 |
Mortgage Finance | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 0 |
60-89 Days Past Due | 0 |
Greater Than 90 Days | 0 |
Total Past Due | 0 |
Current | 2,784,265,000 |
Total loans held for investment | 2,784,265,000 |
Construction | Market risk | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 1,000 |
60-89 Days Past Due | 0 |
Greater Than 90 Days | 103,000 |
Total Past Due | 104,000 |
Current | 1,245,388,000 |
Total loans held for investment | 1,245,492,000 |
Construction | Secured by 1-4 family | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 0 |
60-89 Days Past Due | 0 |
Greater Than 90 Days | 0 |
Total Past Due | 0 |
Current | 16,708,000 |
Total loans held for investment | 16,708,000 |
Real estate | Market risk | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 6,013,000 |
60-89 Days Past Due | 3,100,000 |
Greater Than 90 Days | 0 |
Total Past Due | 9,113,000 |
Current | 1,623,706,000 |
Total loans held for investment | 1,632,819,000 |
Real estate | Commercial | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 15,024,000 |
60-89 Days Past Due | 0 |
Greater Than 90 Days | 0 |
Total Past Due | 15,024,000 |
Current | 387,856,000 |
Total loans held for investment | 402,880,000 |
Real estate | Secured by 1-4 family | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 2,607,000 |
60-89 Days Past Due | 266,000 |
Greater Than 90 Days | 1,694,000 |
Total Past Due | 4,567,000 |
Current | 87,292,000 |
Total loans held for investment | 91,859,000 |
Consumer | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 37,000 |
60-89 Days Past Due | 177,000 |
Greater Than 90 Days | 0 |
Total Past Due | 214,000 |
Current | 15,082,000 |
Total loans held for investment | 15,296,000 |
Leases | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
30-59 Days Past Due | 189,000 |
60-89 Days Past Due | 0 |
Greater Than 90 Days | 0 |
Total Past Due | 189,000 |
Current | 92,921,000 |
Total loans held for investment | $93,110,000 |
Loans_and_Allowance_for_Credit8
Loans and Allowance for Credit Losses (Details 6) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
number | number | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 4 | 6 |
Pre-Restructuring Outstanding Recorded Investment | $11,715,000 | $10,290,000 |
Post-Restructuring Outstanding Recorded Investment | 9,795,000 | 9,643,000 |
Loans considered restructured that are not already on nonaccrual | 1,900,000 | ' |
Nonaccrual loans that met the criteria for restructured | 17,800,000 | ' |
Decrease in post-restructuring recorded investment | 1,900,000 | ' |
Charge-offs | 1,400,000 | ' |
Paydowns | 554,000 | ' |
Loans restructured on non-accrual | 8,100,000 | ' |
Commercial Loan [Member] | Business loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 3 | 3 |
Pre-Restructuring Outstanding Recorded Investment | 10,823,000 | 7,140,000 |
Post-Restructuring Outstanding Recorded Investment | 8,921,000 | 7,103,000 |
Real estate | Market risk | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 2 |
Pre-Restructuring Outstanding Recorded Investment | 892,000 | 1,726,000 |
Post-Restructuring Outstanding Recorded Investment | 874,000 | 1,147,000 |
Real estate | Secured by 1-4 family | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | ' | 1 |
Pre-Restructuring Outstanding Recorded Investment | ' | 1,424,000 |
Post-Restructuring Outstanding Recorded Investment | ' | $1,393,000 |
Loans_and_Allowance_for_Credit9
Loans and Allowance for Credit Losses - TDR Summary (Details 7) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $9,795 | $9,643 |
Extended maturity [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 874 | 1,913 |
Adjusted interest rates [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 0 | 1,393 |
Combination of rate and maturity [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $8,921 | $6,337 |
OREO_and_Valuation_Allowance_f2
OREO and Valuation Allowance for Losses on OREO (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
OREO and Valuation Allowance for Losses on OREO [Abstract] | ' | ' | ' |
Beginning balance | $15,991 | $34,077 | $42,261 |
Additions | 1,331 | 3,434 | 22,180 |
Sales | -11,292 | -14,637 | -23,566 |
Valuation allowance for OREO | -958 | 4,488 | 3,922 |
Real Estate Acquired Through Foreclosure Direct Write Offs | 1,878 | 2,395 | 2,876 |
Ending balance | $5,110 | $15,991 | $34,077 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-13 | Jun. 30, 2011 | 31-May-13 | Jun. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2013 | 31-May-13 | 31-May-13 | |
Customer relashionships | Customer relashionships | Trade name | Trade name | Trade name | Developed Technology Rights | ||||||
Business Acquisition, Purchase Price Allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Total Intangible Assets | ' | ' | ' | $2,100,000 | $11,500,000 | $554,000 | ' | ' | ' | $98,000 | $457,000 |
Business Acquisition, Purchase Price Allocation, Goodwill Amount | ' | ' | ' | 954,000 | 7,200,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets | ' | ' | ' | ' | ' | 55,400 | 4,100,000 | 181,000 | ' | 98,000 | 457,000 |
Finite-Lived Intangible Assets, Useful Life | ' | ' | ' | ' | ' | '14 years | '18 years | '18 years | '5 years | ' | '7 years |
Summary of Goodwill and Other Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Gross | 15,370,000 | 14,416,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Accumulated Impairment | -374,000 | -374,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Net | 14,996,000 | 14,042,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible Assets, Gross | 9,104,000 | 7,996,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible Assets, Accumulated Amortization | -2,814,000 | -2,155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible Assets, Net | 6,290,000 | 5,841,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Goodwill and Intangible Assets | 24,474,000 | 22,412,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Amortization | -3,188,000 | -2,529,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Goodwill and Intangible Assets | 21,286,000 | 19,883,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization Expense, Intangible Assets | 660,000 | 597,000 | 485,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate estimated future amortization expense for intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2012 | 699,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2013 | 598,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 501,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 473,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 473,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | 3,546,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | $6,290,000 | $5,841,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of premises and equipment | ' | ' | ' |
Premises and equipment, gross | $42,978,000 | $39,428,000 | ' |
Accumulated depreciation | -31,496,000 | -27,983,000 | ' |
Total premises and equipment, net | 11,482,000 | 11,445,000 | ' |
Depreciation, Depletion and Amortization | ' | ' | ' |
Depreciation expense | 3,992,000 | 3,550,000 | 3,397,000 |
Premises | ' | ' | ' |
Summary of premises and equipment | ' | ' | ' |
Premises and equipment, gross | 14,113,000 | 12,950,000 | ' |
Furniture and equipment | ' | ' | ' |
Summary of premises and equipment | ' | ' | ' |
Premises and equipment, gross | $28,865,000 | $26,478,000 | ' |
Deposits_Summary_Details
Deposits Summary (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of deposits | ' | ' |
Non-interest bearing | $3,347,567 | $2,535,375 |
Transaction deposits | 792,186 | 979,642 |
Savings deposits | 4,414,680 | 3,170,401 |
Time Deposits | 372,639 | 426,077 |
Interest bearing in foreign branches | 330,307 | 329,309 |
Total Interest-bearing Deposits | 5,909,812 | 4,905,429 |
Total deposits | $9,257,379 | $7,440,804 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Scheduled maturities of interest bearing time deposits | ' | ' |
2012 | $343,654,000 | ' |
2013 | 25,599,000 | ' |
2014 | 1,105,000 | ' |
2015 | 2,041,000 | ' |
2016 | 167,000 | ' |
2017 and after | 73,000 | ' |
Time deposits, total | 372,639,000 | ' |
Time Deposits From Related Parties | 27,139,000 | 30,310,000 |
Time Deposits, $100,000 or More | $652,350,000 | $719,815,000 |
Borrowing_Arrangements_Details
Borrowing Arrangements (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | $1,250,036,000 | $2,171,567,000 | $1,881,522,000 |
Maximum outstanding at any month end | 1,859,036,000 | 2,432,945,000 | 1,986,324,000 |
Federal funds purchased | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 148,650,000 | 273,179,000 | 412,249,000 |
Interest rate as of period end | 0.22% | 0.26% | 0.27% |
Debt, Weighted Average Interest Rate | 0.27% | 0.28% | 0.25% |
Average balance for the year | 254,300,000 | 350,800,000 | 238,500,000 |
Customer repurchase agreements | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 21,954,000 | 23,936,000 | 23,801,000 |
Interest rate as of period end | 0.31% | 0.04% | 0.06% |
Customer repurchase agreements | Collaterized securities | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 37,700,000 | 23,900,000 | 28,300,000 |
FHLB borrowings | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 840,026,000 | 1,650,046,000 | 1,200,066,000 |
Interest rate as of period end | 0.12% | 0.09% | 0.14% |
Debt, Weighted Average Interest Rate | 0.14% | 0.16% | 0.11% |
Average balance for the year | 370,000,000 | 1,200,000,000 | 462,500,000 |
Line of credit | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 15,000,000 | 0 | 0 |
Interest rate as of period end | 2.65% | 0.00% | 0.00% |
Fed borrowings | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 0 | 0 | 132,000,000 |
Interest rate as of period end | 0.00% | 0.00% | 0.75% |
Subordinated notes | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | 111,000,000 | 111,000,000 | 0 |
Interest rate as of period end | 6.50% | 6.50% | 0.00% |
Trust preferred subordinated debentures | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total borrowings | $113,406,000 | $113,406,000 | $113,406,000 |
Interest rate as of period end | 2.17% | 2.24% | 2.48% |
Borrowing_Arrangements_Details1
Borrowing Arrangements (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of other borrowing capacities | ' | ' | ' |
Total FHLB borrowing capacity | $701,784,000 | $300,746,000 | $20,433,000 |
Unused federal funds lines available from commercial banks | 890,000,000 | 706,000,000 | 390,720,000 |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 1,025,604,000 | ' | ' |
After One But Within Three Years | 26,000 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 224,406,000 | ' | ' |
Total borrowings | 1,250,036,000 | 2,171,567,000 | 1,881,522,000 |
Line of Credit Facility, Remaining Borrowing Capacity | 15,000,000 | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 | ' | ' |
Line of Credit Facility, Expiration Date | 15-Dec-14 | ' | ' |
Federal funds purchased | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 148,650,000 | ' | ' |
After One But Within Three Years | 0 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 0 | ' | ' |
Total borrowings | 148,650,000 | 273,179,000 | 412,249,000 |
Customer repurchase agreements | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 21,954,000 | ' | ' |
After One But Within Three Years | 0 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 0 | ' | ' |
Total borrowings | 21,954,000 | 23,936,000 | 23,801,000 |
FHLB borrowings | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 840,000,000 | ' | ' |
After One But Within Three Years | 26,000 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 0 | ' | ' |
Total borrowings | 840,026,000 | ' | ' |
Line of credit | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 15,000,000 | ' | ' |
After One But Within Three Years | 0 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 0 | ' | ' |
Total borrowings | 15,000,000 | 0 | 0 |
Subordinated notes | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 0 | ' | ' |
After One But Within Three Years | 0 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 111,000,000 | ' | ' |
Total borrowings | 111,000,000 | 111,000,000 | 0 |
Trust preferred subordinated debentures | ' | ' | ' |
Borrowed Funds, by Maturity | ' | ' | ' |
Within One Year | 0 | ' | ' |
After One But Within Three Years | 0 | ' | ' |
After Three But Within Five Years | 0 | ' | ' |
After Five Years | 113,406,000 | ' | ' |
Total borrowings | 113,406,000 | 113,406,000 | 113,406,000 |
Loans | ' | ' | ' |
Summary of other borrowing capacities | ' | ' | ' |
Total FHLB borrowing capacity | 693,302,000 | 267,542,000 | 4,524,000 |
Unused federal funds lines available from commercial banks | ' | 35,000,000 | ' |
Securities | ' | ' | ' |
Summary of other borrowing capacities | ' | ' | ' |
Total FHLB borrowing capacity | $8,482,000 | $33,204,000 | $15,909,000 |
Long_Term_Debt_Details
Long Term Debt (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 21, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Texas Capital Bancshares Statutory I | Texas Capital Bancshares Statutory II | Texas Capital Bancshares Statutory III | Texas Capital Bancshares Statutory IV | Texas Capital Bancshares Statutory V | Trust Preferred Subordinated Debentures | |||||
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total borrowings | ' | $1,250,036 | $2,171,567 | $1,881,522 | ' | ' | ' | ' | ' | $113,400 |
Date issued | ' | ' | ' | ' | 19-Nov-02 | 10-Apr-03 | 6-Oct-05 | 28-Apr-08 | 29-Sep-06 | ' |
Capital securities issued | $111,000 | $113,406 | $113,406 | ' | $10 | $10 | $26 | $26 | $41 | ' |
Floating or fixed rate securities | ' | ' | ' | ' | 'Floating | 'Floating | 'Floating | 'Floating | 'Floating | ' |
Interest rate on subordinated debentures, description | ' | ' | ' | ' | '3 month LIBOR + 3.35% | '3 month LIBOR + 3.25% | '3 month LIBOR + 1.51% | '3 month LIBOR + 1.60% | '3 month LIBOR + 1.71% | ' |
Interest rate on subordinated debentures, spread on variable rate | ' | ' | ' | ' | 3.35% | 3.25% | 1.51% | 1.60% | 1.71% | ' |
Maturity Date | 30-Sep-42 | ' | ' | ' | 30-Nov-32 | 30-Apr-33 | 31-Dec-35 | 30-Jun-36 | 31-Dec-36 | ' |
Interest Rate, Stated Percentage | 6.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
Deferred Tax Assets, Gross | $60,200,000 | $51,100,000 | ' |
Current: | ' | ' | ' |
Federal | 76,481,000 | 69,092,000 | 47,799,000 |
State | 1,878,000 | 1,885,000 | 1,183,000 |
Total | 78,359,000 | 70,977,000 | 48,982,000 |
Deferred: | ' | ' | ' |
Federal | -11,599,000 | -3,131,000 | -6,927,000 |
State | 0 | 0 | 245,000 |
Total | -11,599,000 | -3,131,000 | -6,682,000 |
Total expense: | ' | ' | ' |
Federal | 64,882,000 | 65,961,000 | 40,872,000 |
State | 1,878,000 | 1,885,000 | 1,428,000 |
Total | $66,760,000 | $67,846,000 | $42,300,000 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income tax expense for continuing and discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
From continuing operations | $17,012 | $18,724 | $12,542 | $18,479 | $17,982 | $18,316 | $16,506 | $15,062 | $66,757 | $67,866 | $42,366 |
From discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 3 | -20 | -66 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 66,760 | 67,846 | 42,300 |
Deferred tax assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for credit losses | 32,752 | ' | ' | ' | 27,725 | ' | ' | ' | 32,752 | 27,725 | ' |
Organizational costs/intangibles | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' |
Loan origination fees | 11,580 | ' | ' | ' | 8,991 | ' | ' | ' | 11,580 | 8,991 | ' |
Stock compensation | 10,786 | ' | ' | ' | 5,777 | ' | ' | ' | 10,786 | 5,777 | ' |
Mark to market on mortgage loans | 220 | ' | ' | ' | 245 | ' | ' | ' | 220 | 245 | ' |
Reserve for potential mortgage loan repurchases | 20 | ' | ' | ' | 20 | ' | ' | ' | 20 | 20 | ' |
Non-accrual interest | 1,907 | ' | ' | ' | 2,739 | ' | ' | ' | 1,907 | 2,739 | ' |
Deferred lease expense | 1,316 | ' | ' | ' | 957 | ' | ' | ' | 1,316 | 957 | ' |
OREO valuation allowance | 499 | ' | ' | ' | 3,168 | ' | ' | ' | 499 | 3,168 | ' |
Other | 1,157 | ' | ' | ' | 1,452 | ' | ' | ' | 1,157 | 1,452 | ' |
Deferred tax assets, total | 60,237 | ' | ' | ' | 51,074 | ' | ' | ' | 60,237 | 51,074 | ' |
Deferred tax liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan origination costs | 1,048 | ' | ' | ' | 1,113 | ' | ' | ' | 1,048 | 1,113 | ' |
Leases | 6,587 | ' | ' | ' | 9,077 | ' | ' | ' | 6,587 | 9,077 | ' |
Depreciation | 1,183 | ' | ' | ' | 1,077 | ' | ' | ' | 1,183 | 1,077 | ' |
Unrealized gain on securities | 877 | ' | ' | ' | 1,762 | ' | ' | ' | 877 | 1,762 | ' |
Other | 1,819 | ' | ' | ' | 1,769 | ' | ' | ' | 1,819 | 1,769 | ' |
Deferred tax liabilities, total | 11,514 | ' | ' | ' | 14,798 | ' | ' | ' | 11,514 | 14,798 | ' |
Net deferred tax asset | $48,723 | ' | ' | ' | $36,276 | ' | ' | ' | $48,723 | $36,276 | ' |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax at R.S. statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
State taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | 1.00% |
Non-deductible expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | 1.00% |
Non-taxable income | ' | ' | ' | ' | ' | ' | ' | ' | -1.00% | -1.00% | -1.00% |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 36.00% | 36.00% | 36.00% |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Employer Contribution | $3,700,000 | $2,700,000 | $819,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Risk-free rate | 1.17% | 0.76% | 1.83% |
Market price volatility factor | 40.90% | 40.40% | 41.40% |
Weighted-average expected life of options | '5 years | '5 years | '5 years |
Eligible employee contribution, minimum (in percent) | 1.00% | ' | ' |
Eligible employee contribution, maximum (in percent) | 10.00% | ' | ' |
2006 ESPP | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 400,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | 93,388 | 85,013 | 76,561 |
2005 Plan | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,500,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 43,495 | 26,615 | 15,865 |
2010 Plan | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 700,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 218,820 | 363,020 | 431,200 |
Employee_Benefits_Details_1
Employee Benefits (Details 1) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | ' | ' | ' |
Compensation expense | $2,677,000 | $3,626,000 | $4,771,000 |
Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Options outstanding at beginnig of year | 174,062 | 569,410 | 943,820 |
Options exercised | -119,162 | -391,348 | -374,410 |
Options forfeited | 0 | -4,000 | 0 |
Options outstanding at year-end | 54,900 | 174,062 | 569,410 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' |
Options outstanding at beginnig of year, weighted average exercise price | $13.51 | $13.02 | $12.62 |
Options exercised, weighted average exercise price | $11.14 | $12.74 | $12 |
Options forfeited, weighted average exercise price | $0 | $19.37 | $0 |
Options outstanding at year-end, weighted average exercise price | $18.65 | $13.51 | $13.02 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | ' | ' | ' |
Options vested and exercisable at year-end | 54,900 | 174,062 | 569,410 |
Options vested and exercisable at year-end, weighted average exercise price | $18.65 | $13.51 | $13.02 |
Intrinsic value of options vested and exercisable | 2,391,014 | 5,450,620 | 10,015,721 |
Weighted average remaining contractual life of options vested and exercisable (in years) | '11 months 38 days | '1 year 2 months | '2 years |
Intrinsic value of options exercised | $4,176,787 | $10,246,387 | $5,496,861 |
Weighted average remaining contractual life of options currently outstanding (in years) | '11 months 38 days | '1 year 2 months | '2 years |
Employee_Benefits_Details_2
Employee Benefits (Details 2) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' |
Compensation expense | $2,677,000 | $3,626,000 | $4,771,000 |
Intrinsic value of SARs vested | 16,000,000 | 10,900,000 | 7,100,000 |
SARs | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' |
Compensation expense | 1,500,000 | ' | ' |
Weighted average remaining contractual life of SARs currently outstanding (in years) | '4 years 8 months | '5 years 2 months | '5 years 11 months |
SARs / PSARs | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | ' | ' | ' |
Balance at beginning of year | 640,220 | 983,700 | 1,213,257 |
Granted | 53,500 | 36,000 | 33,000 |
SARs exercised | -134,271 | -345,480 | -236,610 |
Forfeited | -22,300 | -34,000 | -25,947 |
Balance at year end | 537,149 | 640,220 | 983,700 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' |
SARs outstanding at beginning of year, weighted average exercise price | $20.90 | $19.56 | $19.42 |
SARs granted, weighted average exercise price | $43.73 | $44.94 | $24.70 |
SARs exercised, weighted average exercise price | $19.21 | $19.44 | $19.86 |
SARs forfeited, weighted average exercise price | $18.99 | $24.79 | $16.56 |
SARs outstanding at year end, weighted average exercise price | $23.68 | $20.90 | $19.56 |
SARs vested and exercisable at year end | 384,974 | 446,970 | 687,175 |
SARs vested and exercisable at year end, weighted average exercise price | $20.64 | $20.41 | $20.29 |
Weighted average remaining contractual life of SARs vested | 3.46 | 4.25 | 5.24 |
Compensation expense | 564,000 | 704,000 | 1,272,000 |
Weighted average fair value of SARs granted (in years) | $16.26 | $16.21 | $9.54 |
Fair value of shares vested during the year | $566,341 | $758,543 | $1,612,435 |
Employee_Benefits_Details_3
Employee Benefits (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted stock units, additional disclosures | ' | ' | ' |
Compensation expense | $2,677,000 | $3,626,000 | $4,771,000 |
Excess tax benefits from stock-based compensation arrangements | 3,427,000 | 22,197,000 | 8,970,000 |
Tax expense related to exercise of stock options | 1,200,000 | 7,769,000 | 3,139,000 |
Service based | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '5 years | ' | ' |
Cash-based performance units outstanding | 309,202 | ' | ' |
Vesting schedule for cash-based RSUs | 'five years | ' | ' |
Service and performance based | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Weighted average remaining contractual life of stock units currently outstanding (in years) | '8 years 2 months | ' | ' |
Cash-based performance units outstanding | 307,418 | ' | ' |
Cash based performance | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Cash-based RSUs Shares Issued in Period | 173,035 | 344,127 | 217,337 |
Cash-based performance units outstanding | 616,620 | ' | ' |
Cash-based compensation expense | 17,287,000 | 6,440,000 | 522,000 |
Cash-based compensation expenset, net of taxes | 11,237,000 | 4,186,000 | 339,000 |
Cash based performance | Retirement and transition of CEO | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Cash-based compensation expense | 4,618,000 | ' | ' |
RSUs | ' | ' | ' |
Summary of nonvested restricted stock units | ' | ' | ' |
Balance at beginning of year | 411,919 | 661,492 | 897,351 |
Granted | 163,500 | 105,000 | 165,891 |
vested and issued | -151,480 | -311,410 | -364,065 |
Forfeited | -20,200 | -43,163 | -37,685 |
Balance at year end | 403,739 | 411,919 | 661,492 |
Restricted stock units, additional disclosures | ' | ' | ' |
Balance at beginning of year, weighted average grant-date fair value | $23.80 | $17.44 | $14.64 |
Granted, weighted average grant-date fair value | $45.35 | $39.89 | $24.77 |
vested and issued, weighted average grant-date fair value | $20.47 | $18.82 | $16.07 |
Forfeited, weighted average grant-date fair value | $24.96 | $25.25 | $18.70 |
Balance at year end, weighted average grant-date fair value | $33.72 | $23.80 | $17.44 |
Compensation expense | 3,551,000 | 4,875,000 | 6,068,000 |
Weighted average remaining contractual life of stock units currently outstanding (in years) | '8 years 2 months | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 11,600,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '3 years 8 months | ' | ' |
RSUs | Minimum [Member] | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '4 years | '4 years | '4 years |
RSUs | Maximum [Member] | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '5 years | '5 years | '5 years |
SARs | ' | ' | ' |
Restricted stock units, additional disclosures | ' | ' | ' |
Compensation expense | $1,500,000 | ' | ' |
Weighted average remaining contractual life of stock units currently outstanding (in years) | '4 years 8 months | '5 years 2 months | '5 years 11 months |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '3 years 7 months | ' | ' |
Financial_Instruments_with_Off2
Financial Instruments with Off-Balance Sheet Risk (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $3,674,391 | $2,648,454 |
Standby letters of credit | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $145,662 | $83,429 |
Regulatory_Restrictions_Detail
Regulatory Restrictions (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk weighted assets), actual amount | $1,387,312,000 | $1,112,924,000 |
Total capital (to risk weighted assets), actual ratio | 10.73% | 9.97% |
Total capital (to risk weighted assets) for capital adequacy purposes, amount | 1,034,721,000 | 893,231,000 |
Total capital (to risk weighted assets) for capital adequacy purposes, ratio | 8.00% | 8.00% |
Tier 1 capital (to risk-weighted assets), actual amount | 1,184,018,000 | 923,677,000 |
Tier 1 capital (to risk-weighted assets), actual ratio | 9.15% | 8.27% |
Tier 1 capital (to risk-weighted assets) for capital adequacy purposes, amount | 517,361,000 | 446,616,000 |
Tier 1 capital (to risk-weighted assets) for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), actual amount | 1,184,018,000 | 923,677,000 |
Tier 1 capital (to average assets), actual ration | 10.87% | 9.41% |
Tier 1 capital (to average assets) for capital adequacy purposes, amount | 435,750,000 | 392,649,000 |
Tier 1 capital (to average assets) for capital adequacy purposes, ratio | 4.00% | 4.00% |
Required balance at the Federal Reserve | 51,692,000 | 33,141,000 |
Federal Deposit Insurance Corporation Assessment Charge | 3,000,000 | ' |
Bank | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk weighted assets), actual amount | 1,328,227,000 | 948,328,000 |
Total capital (to risk weighted assets), actual ratio | 10.27% | 8.50% |
Total capital (to risk weighted assets) for capital adequacy purposes, amount | 1,034,406,000 | 892,806,000 |
Total capital (to risk weighted assets) for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total capital (to risk weighted assets) to be well capitalized under prompt corrective action provisions, amount | 1,293,007,000 | 1,116,008,000 |
Total capital (to risk weighted assets) to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets), actual amount | 975,933,000 | 800,081,000 |
Tier 1 capital (to risk-weighted assets), actual ratio | 7.55% | 7.17% |
Tier 1 capital (to risk-weighted assets) for capital adequacy purposes, amount | 517,203,000 | 446,403,000 |
Tier 1 capital (to risk-weighted assets) for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to risk weighted assets) to be well capitalized under prompt corrective action provisions, amount | 775,804,000 | 669,605,000 |
Tier 1 capital (to risk weighted assets) to be well capitalized under prompt corrective action provisions, ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets), actual amount | 975,933,000 | 800,081,000 |
Tier 1 capital (to average assets), actual ration | 8.96% | 8.16% |
Tier 1 capital (to average assets) for capital adequacy purposes, amount | 435,601,000 | 392,433,000 |
Tier 1 capital (to average assets) for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets) to be well capitalized under prompt corrective action provisions, amount | $544,502,000 | $490,541,000 |
Tier 1 capital (to average assets) to be well capitalized under prompt corrective action provisions, ratio | 5.00% | 5.00% |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income from continuing operations | $30,356 | $33,474 | $24,072 | $33,144 | $31,435 | $32,570 | $29,623 | $27,081 | $121,046 | $120,709 | $76,102 |
Preferred stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | 7,394 | 0 | 0 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 113,652 | 120,709 | 76,102 |
Loss from discontinued operations | 3 | 2 | 1 | -1 | -6 | -34 | -1 | 4 | 5 | -37 | -126 |
Net income available to common shareholders | $27,921 | $31,039 | $21,635 | $33,062 | ' | ' | ' | ' | $113,657 | $120,672 | $75,976 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Denominator for basic earnings per share - weighted average shares | 40,983,000 | 40,902,000 | 40,814,000 | 40,474,000 | 40,446,000 | 39,618,000 | 38,013,000 | 37,795,000 | 40,864,225 | 39,046,340 | 37,334,743 |
Effect of employee stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | 402,593 | 645,771 | 682,694 |
Effect of warrants to purchase common stock | ' | ' | ' | ' | ' | ' | ' | ' | 513,063 | 473,736 | 315,640 |
Denominator for dilutive earnings per share - adjusted weighted average shares and assumed conversions | 41,889,000 | 41,792,000 | 41,724,000 | 41,429,000 | 41,505,000 | 40,756,000 | 39,142,000 | 38,914,000 | 41,779,881 | 40,165,847 | 38,333,077 |
Basic earnings per common share from continuing operations | $0.68 | $0.76 | $0.53 | $0.82 | $0.78 | $0.82 | $0.78 | $0.72 | $2.78 | $3.09 | $2.04 |
Basic earnings per common share | $0.68 | $0.76 | $0.53 | $0.82 | $0.78 | $0.82 | $0.78 | $0.72 | $2.78 | $3.09 | $2.03 |
Diluted earnings per share from continuing operations | $0.67 | $0.74 | $0.52 | $0.80 | $0.76 | $0.80 | $0.76 | $0.70 | $2.72 | $3.01 | $1.99 |
Diluted earnings per common share | $0.67 | $0.74 | $0.52 | $0.80 | $0.76 | $0.80 | $0.76 | $0.70 | $2.72 | $3 | $1.98 |
Stock options exluded from computation of EPS | ' | ' | ' | ' | ' | ' | ' | ' | 118,500 | 79,500 | 98,000 |
Fair_Value_Disclosures_Details
Fair Value Disclosures (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | $63,214 | $100,195 | ' | ' |
OREO | 5,110 | 15,991 | 34,077 | 42,261 |
Mortgage-backed securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 41,462 | 61,581 | ' | ' |
Corporate securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | ' | 5,080 | ' | ' |
Municipals | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 14,505 | 25,894 | ' | ' |
Equity securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 7,247 | 7,640 | ' | ' |
Fair value measuremenets, recurring basis | Level 1 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Derivative assets | 0 | 0 | ' | ' |
Derivative liabilitiy | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 1 | Mortgage-backed securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 1 | Corporate securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 1 | Municipals | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 1 | Equity securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 2 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Derivative assets | 9,317 | 28,473 | ' | ' |
Derivative liabilitiy | -9,317 | -28,473 | ' | ' |
Fair value measuremenets, recurring basis | Level 2 | Mortgage-backed securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 41,462 | 61,581 | ' | ' |
Fair value measuremenets, recurring basis | Level 2 | Corporate securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 5,080 | ' | ' |
Fair value measuremenets, recurring basis | Level 2 | Municipals | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 14,505 | 25,894 | ' | ' |
Fair value measuremenets, recurring basis | Level 2 | Equity securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 7,247 | 7,640 | ' | ' |
Fair value measuremenets, recurring basis | Level 3 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Derivative assets | 0 | 0 | ' | ' |
Derivative liabilitiy | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 3 | Mortgage-backed securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 3 | Corporate securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 3 | Municipals | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, recurring basis | Level 3 | Equity securities | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Available for sale securities | 0 | 0 | ' | ' |
Fair value measuremenets, nonrecurring basis | Level 1 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Loans | 0 | 0 | ' | ' |
OREO | 0 | 0 | ' | ' |
Fair value measuremenets, nonrecurring basis | Level 2 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Loans | 0 | 0 | ' | ' |
OREO | 0 | 0 | ' | ' |
Fair value measuremenets, nonrecurring basis | Level 3 | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Loans | 13,474 | 11,639 | ' | ' |
OREO | $5,110 | $15,991 | ' | ' |
Fair_Value_Disclosures_Details1
Fair Value Disclosures (Details 1) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Impaired loans | ' |
Fair Value Assets Measured On Non Recurring Basis Unobservable Input Reconciliation [Line Items] | ' |
Asset measured on nonrecurring basis, carrying value | $14.90 |
Asset measured on nonrecurring basis, specific valuation allowance | 1.4 |
Asset measured on nonrecurring basis, reported fair value | 13.5 |
OREO | ' |
Fair Value Assets Measured On Non Recurring Basis Unobservable Input Reconciliation [Line Items] | ' |
Asset measured on nonrecurring basis, carrying value | $5.10 |
Fair_Value_Disclosures_Details2
Fair Value Disclosures (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Available for sale securities | $63,214 | $100,195 |
Subordinated notes | 111,000 | 111,000 |
Carrying Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 153,911 | 206,348 |
Available for sale securities | 63,214 | 100,195 |
Loans held for sale from discontinued operations | 294 | 302 |
Loans held for investment, net | 11,182,970 | 9,886,470 |
Derivative assets | 9,317 | 28,473 |
Deposits | 9,257,379 | 7,440,804 |
Federal funds purchased | 148,650 | 273,179 |
Borrowings | 876,980 | 1,673,982 |
Subordinated notes | 111,000 | 111,000 |
Trust preferred subordinated debentures | 113,406 | 113,406 |
Derivative liabilities | 9,317 | 28,473 |
Estimated Fair Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 153,911 | 206,348 |
Available for sale securities | 63,214 | 100,195 |
Loans held for sale from discontinued operations | 294 | 302 |
Loans held for investment, net | 11,179,145 | 9,889,303 |
Derivative assets | 9,317 | 28,473 |
Deposits | 9,257,574 | 7,441,240 |
Federal funds purchased | 148,650 | 273,179 |
Borrowings | 861,981 | 1,673,983 |
Subordinated notes | 96,647 | 112,757 |
Trust preferred subordinated debentures | 113,406 | 113,406 |
Derivative liabilities | $9,317 | $28,473 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments and Contingencies [Abstract] | ' | ' | ' |
Rent expense | $10,216,000 | $8,993,000 | $7,982,000 |
Minimum future lease payments under operating leases | ' | ' | ' |
2012 | 13,483,000 | ' | ' |
2013 | 14,136,000 | ' | ' |
2014 | 14,085,000 | ' | ' |
2015 | 14,038,000 | ' | ' |
2016 | 13,960,000 | ' | ' |
2017 and thereafter | 62,335,000 | ' | ' |
Total | $132,037,000 | ' | ' |
Parent_Company_Only_Details
Parent Company Only (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 21, 2012 | Aug. 01, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||
Assets | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $153,911 | $206,348 | ' | ' | $110,558 | $179,866 |
Other assets | 281,534 | 316,201 | ' | ' | ' | ' |
Total assets | 11,714,691 | 10,540,844 | ' | ' | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Other liabilities | 110,177 | 91,581 | ' | ' | ' | ' |
Line of credit | ' | ' | ' | 15,000 | ' | ' |
Subordinated notes | 111,000 | 111,000 | ' | ' | ' | ' |
Trust preferred subordinated debentures | 113,406 | 113,406 | 111,000 | ' | ' | ' |
Total liabilities | 10,618,341 | 9,704,602 | ' | ' | ' | ' |
Preferred stock | 150,000 | ' | ' | ' | ' | ' |
Common stock | 410 | 407 | ' | ' | ' | ' |
Additional paid-in capital | 448,208 | 450,116 | ' | ' | ' | ' |
Retained earnings | 496,112 | 382,455 | ' | ' | ' | ' |
Treasury stock | -8 | -8 | ' | ' | ' | ' |
Accumulated other comprehensive income | 1,628 | 3,272 | ' | ' | ' | ' |
Total stockholders' equity | 1,096,350 | 836,242 | ' | ' | 616,331 | 528,319 |
Total liabilities and stockholders' equity | 11,714,691 | 10,540,844 | ' | ' | ' | ' |
Texas Capital Bancshares, Inc. | ' | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 47,605 | 141,257 | ' | ' | 21,004 | 88,684 |
Investment in subsidiaries | 1,011,823 | 836,204 | ' | ' | ' | ' |
Other assets | 287,734 | 94,121 | ' | ' | ' | ' |
Total assets | 1,347,162 | 1,071,582 | ' | ' | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' | ' | ' |
Other liabilities | 1,254 | 782 | ' | ' | ' | ' |
Line of credit | 15,000 | 0 | ' | ' | ' | ' |
Subordinated notes | 111,000 | 111,000 | ' | ' | ' | ' |
Trust preferred subordinated debentures | 113,406 | 113,406 | ' | ' | ' | ' |
Total liabilities | 240,660 | 225,188 | ' | ' | ' | ' |
Preferred stock | 150,000 | 0 | ' | ' | ' | ' |
Common stock | 410 | 407 | ' | ' | ' | ' |
Additional paid-in capital | 458,360 | 460,268 | ' | ' | ' | ' |
Retained earnings | 496,112 | 382,455 | ' | ' | ' | ' |
Treasury stock | 8 | 8 | ' | ' | ' | ' |
Accumulated other comprehensive income | 1,628 | 3,272 | ' | ' | ' | ' |
Total stockholders' equity | 1,106,502 | 846,394 | ' | ' | ' | ' |
Total liabilities and stockholders' equity | $1,347,162 | $1,071,582 | ' | ' | ' | ' |
Parent_Company_Only_Details_1
Parent Company Only (Details 1) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest And Fee Income Loans And Leases | ' | ' | ' | ' | ' | ' | ' | ' | $441,314 | $393,548 | $314,753 |
Interest expense | 6,490 | 6,441 | 6,044 | 6,137 | 6,614 | 5,156 | 4,906 | 4,902 | 25,112 | 21,578 | 18,663 |
Salaries and employee benefits | ' | ' | ' | ' | ' | ' | ' | ' | 157,752 | 121,456 | 100,535 |
Legal and professional | ' | ' | ' | ' | ' | ' | ' | ' | 18,104 | 17,557 | 14,996 |
Other non-interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 25,155 | 22,729 | 21,167 |
Income (loss) from continuing operations before income taxes | 47,368 | 52,198 | 36,614 | 51,623 | 49,417 | 50,886 | 46,129 | 42,143 | 187,803 | 188,575 | 118,468 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 66,760 | 67,846 | 42,300 |
Net income | 30,359 | 33,476 | 24,073 | 33,143 | 31,429 | 32,536 | 29,622 | 27,085 | 121,051 | 120,672 | 75,976 |
Preferred stock dividends | -2,438 | -2,437 | -2,438 | -81 | ' | ' | ' | ' | -7,394 | 0 | 0 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 113,652 | 120,709 | 76,102 |
Texas Capital Bancshares, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statement of Earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest And Fee Income Loans And Leases | ' | ' | ' | ' | ' | ' | ' | ' | 10,382 | 1,484 | 0 |
Dividend income | ' | ' | ' | ' | ' | ' | ' | ' | 76 | 83 | 77 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 72 | 38 | 72 |
Total income | ' | ' | ' | ' | ' | ' | ' | ' | 10,530 | 1,605 | 149 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 9,863 | 4,913 | 2,573 |
Salaries and employee benefits | ' | ' | ' | ' | ' | ' | ' | ' | 669 | 668 | 618 |
Legal and professional | ' | ' | ' | ' | ' | ' | ' | ' | 2,605 | 2,094 | 1,919 |
Other non-interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 651 | 744 | 450 |
Total expense | ' | ' | ' | ' | ' | ' | ' | ' | 13,788 | 8,419 | 5,560 |
Income (loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -3,258 | -6,814 | -5,411 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -1,165 | -2,435 | -1,887 |
Loss before equity in undistributed income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | -2,093 | -4,379 | -3,524 |
Equity in undistributed income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 123,144 | 124,951 | 79,500 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 121,051 | 120,572 | 75,976 |
Preferred stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | -7,394 | 0 | 0 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $113,657 | $120,572 | $75,976 |
Parent_Company_Only_Details_2
Parent Company Only (Details 2) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Aug. 01, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | $30,359 | $33,476 | $24,073 | $33,143 | $31,429 | $32,536 | $29,622 | $27,085 | $121,051 | $120,672 | $75,976 |
Adjustments to reconcile net income to net cash used in operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,002 | -61,334 | -63,247 |
Tax benefit from stock option exercises | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200 | 7,769 | 3,139 |
Excess tax benefits from stock-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,427 | -22,197 | -8,970 |
Increase (decrease) in other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,308 | 3,066 | 32,694 |
Net cash used in operating activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 189,137 | 74,790 | 75,882 |
Investing Activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by investing activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,275,875 | -2,263,185 | -1,727,406 |
Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of stock related to stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,210 | 355 | 2,190 |
Sale of common stock | 87,000 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 86,987 | 0 |
Proceeds from issuance of preferred stock and related warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144,987 | 0 | 0 |
Proceeds from issuance of subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 111,000 | 0 |
Preferred dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,000 | ' | ' |
Net other borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | -797,002 | 318,115 | 1,341,761 |
Excess tax benefits from stock-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,427 | 22,197 | 8,970 |
Net cash (used in) financing activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,034,288 | 2,284,131 | 1,582,245 |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -52,437 | 95,790 | -69,308 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 206,348 | ' | ' | ' | 110,558 | 206,348 | 110,558 | 179,866 |
Cash and cash equivalents at end of period | ' | 153,911 | ' | ' | ' | 206,348 | ' | ' | ' | 153,911 | 206,348 | 110,558 |
Texas Capital Bancshares, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 121,051 | 120,572 | 75,976 |
Adjustments to reconcile net income to net cash used in operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in undistributed income of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | -123,144 | -124,951 | -79,500 |
Increase in other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,613 | -11,562 | -3,747 |
Tax benefit from stock option exercises | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200 | 7,769 | 3,139 |
Excess tax benefits from stock-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,427 | -22,197 | -8,970 |
Increase (decrease) in other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | 83 | 262 |
Net cash used in operating activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,896 | -30,286 | -12,840 |
Investing Activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -240,000 | -70,000 | -66,000 |
Net cash provided by investing activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | -240,000 | -70,000 | -66,000 |
Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of stock related to stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,210 | 355 | 2,190 |
Sale of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 86,987 | 0 |
Proceeds from issuance of preferred stock and related warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144,987 | 0 | 0 |
Proceeds from issuance of subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 111,000 | 0 |
Repurchase of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Preferred dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,960 | 0 | 0 |
Net other borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | 0 | 0 |
Excess tax benefits from stock-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,427 | 22,197 | 8,970 |
Net cash (used in) financing activities of continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 154,244 | 220,539 | 11,160 |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -93,652 | 120,253 | -67,680 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 141,257 | ' | ' | ' | 21,004 | 141,257 | 21,004 | 88,684 |
Cash and cash equivalents at end of period | ' | $47,605 | ' | ' | ' | $141,257 | ' | ' | ' | $47,605 | $141,257 | $21,004 |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Discontinued Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans held for sale from discontinued operations | $294,000 | ' | ' | ' | ' | ' | ' | ' | $294,000 | ' | ' |
Results of operations of the disclontinued components | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 27,000 | -26,000 | 58,000 |
Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 19,000 | 31,000 | 250,000 |
Loss before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 8,000 | -57,000 | -192,000 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -3,000 | 20,000 | 66,000 |
Loss from discontinued operations | $3,000 | $2,000 | $1,000 | ($1,000) | ($6,000) | ($34,000) | ($1,000) | $4,000 | $5,000 | ($37,000) | ($126,000) |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Credit Risk Derivatives [Abstract] | ' | ' |
Description of credit risk exposure | 'Our credit exposure on interest rate swaps and caps is limited to the net favorable value and interest payments of all swaps and caps by each counterparty. In such cases collateral may be required from the counterparties involved if the net value of the swaps and caps exceeds a nominal amount considered to be immaterial. | ' |
Cash Pledged As Derivative Collateral | $10,700,000 | $12,300,000 |
Commercial loan/lease | ' | ' |
Credit Risk Derivatives [Abstract] | ' | ' |
Credit exposure on risk derivatives | 9,300,000 | ' |
Interest rate swaps | Non-hedging | Commercial loan/lease | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated Fair Value, Derivative Assets | 8,652,000 | 28,469,000 |
Estimated Fair Value, Derivative Liabilities | -8,652,000 | -28,469,000 |
Notional Amount, Derivative Assets | 764,939,000 | 523,216,000 |
Notional Amount, Derivative Liabilities | -764,939,000 | -523,216,000 |
Interest rate swaps | Non-hedging | Commercial loan/lease | Interest Rate Received | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Weighted-average receive and pay interest rate | 2.99% | 4.76% |
Interest rate swaps | Non-hedging | Commercial loan/lease | Interest Rate Paid | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Weighted-average receive and pay interest rate | 4.89% | 3.11% |
Interest Rate Caps | Non-hedging | Commercial loan/lease | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Estimated Fair Value, Derivative Assets | -665,000 | -4,000 |
Estimated Fair Value, Derivative Liabilities | 665,000 | 4,000 |
Notional Amount, Derivative Assets | -58,706,000 | -42,380,000 |
Notional Amount, Derivative Liabilities | $58,706,000 | $42,380,000 |
Stockholders_Equity_Details
Stockholder's Equity (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Aug. 01, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity Distribution Agreement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 2,300,000 | ' | ' | ' | ' | ' | ' | ' |
Sale of common stock | $87,000 | ' | ' | ' | ' | $0 | $86,987 | $0 |
Total dividend and reduction of earnings available to common stockholders | ' | $2,438 | $2,437 | $2,438 | $81 | $7,394 | $0 | $0 |
Warrants outstanding | ' | 710,598 | ' | ' | ' | 710,598 | ' | ' |
Warrants, price per share | ' | $14.84 | ' | ' | ' | $14.84 | ' | ' |
Stockholders_Equity_Narratives
Stockholder's Equity (Narratives) (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||||
Aug. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 28, 2013 | Jan. 31, 2009 | |
Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' |
Warrants outstanding | ' | 710,598 | ' | ' | ' | ' |
Warrants, price per share | ' | $14.84 | ' | ' | ' | ' |
Issuance of stock - Shares | 2,300,000 | ' | ' | ' | ' | ' |
Sale of common stock | $87,000,000 | $0 | $86,987,000 | $0 | ' | ' |
Line of credit | 15,000,000 | ' | ' | ' | ' | ' |
Issuance of preferred stock | ' | 6,000,000 | 0 | ' | 6,000,000 | 75,000,000 |
Preferred dividends paid | ' | -7,000,000 | ' | ' | ' | ' |
Net proceeds from issuance of preferred stock | ' | $144,987,000 | $0 | $0 | ' | ' |
Preferred Stock Dividend Rate Percentage | ' | 6.50% | ' | ' | ' | ' |
Preferred Stock Par Or Stated Value Per Share | ' | $0.01 | $0.01 | ' | ' | ' |
Preferred Stock Liquidation Preference | ' | $25 | ' | ' | ' | ' |
Quarterly_Financial_Data_detai
Quarterly Financial Data (details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $117,965 | $115,217 | $107,264 | $104,179 | $107,769 | $102,011 | $95,546 | $93,131 | $444,625 | $398,457 | $321,600 |
Interest expense | 6,490 | 6,441 | 6,044 | 6,137 | 6,614 | 5,156 | 4,906 | 4,902 | 25,112 | 21,578 | 18,663 |
Net interest income | 111,475 | 108,776 | 101,220 | 98,042 | 101,155 | 96,855 | 90,640 | 88,229 | 419,513 | 376,879 | 302,937 |
Provision for credit losses | 5,000 | 5,000 | 7,000 | 2,000 | 4,500 | 3,000 | 1,000 | 3,000 | 19,000 | 11,500 | 28,500 |
Net interest income after provision for credit losses | 106,475 | 103,776 | 94,220 | 96,042 | 96,655 | 93,855 | 89,640 | 85,229 | 400,513 | 365,379 | 274,437 |
Non-interest income | 11,184 | 10,431 | 11,128 | 11,281 | 12,836 | 10,552 | 10,462 | 9,190 | 44,024 | 43,040 | 32,232 |
Non-interest expense | 70,291 | 62,009 | 68,734 | 55,700 | 60,074 | 53,521 | 53,973 | 52,276 | 256,734 | 219,844 | 188,201 |
Income (loss) from continuing operations before income taxes | 47,368 | 52,198 | 36,614 | 51,623 | 49,417 | 50,886 | 46,129 | 42,143 | 187,803 | 188,575 | 118,468 |
Income tax expense | 17,012 | 18,724 | 12,542 | 18,479 | 17,982 | 18,316 | 16,506 | 15,062 | 66,757 | 67,866 | 42,366 |
Income from continuing operations | 30,356 | 33,474 | 24,072 | 33,144 | 31,435 | 32,570 | 29,623 | 27,081 | 121,046 | 120,709 | 76,102 |
Loss from discontinued operations (after-tax) | 3 | 2 | 1 | -1 | -6 | -34 | -1 | 4 | 5 | -37 | -126 |
Net income | 30,359 | 33,476 | 24,073 | 33,143 | 31,429 | 32,536 | 29,622 | 27,085 | 121,051 | 120,672 | 75,976 |
Preferred stock dividends | -2,438 | -2,437 | -2,438 | -81 | ' | ' | ' | ' | -7,394 | 0 | 0 |
Net income available to common shareholders | $27,921 | $31,039 | $21,635 | $33,062 | ' | ' | ' | ' | $113,657 | $120,672 | $75,976 |
Basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | $0.68 | $0.76 | $0.53 | $0.82 | $0.78 | $0.82 | $0.78 | $0.72 | $2.78 | $3.09 | $2.04 |
Net income | $0.68 | $0.76 | $0.53 | $0.82 | $0.78 | $0.82 | $0.78 | $0.72 | $2.78 | $3.09 | $2.03 |
Diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | $0.67 | $0.74 | $0.52 | $0.80 | $0.76 | $0.80 | $0.76 | $0.70 | $2.72 | $3.01 | $1.99 |
Net income | $0.67 | $0.74 | $0.52 | $0.80 | $0.76 | $0.80 | $0.76 | $0.70 | $2.72 | $3 | $1.98 |
Average shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 40,983,000 | 40,902,000 | 40,814,000 | 40,474,000 | 40,446,000 | 39,618,000 | 38,013,000 | 37,795,000 | 40,864,225 | 39,046,340 | 37,334,743 |
Diluted | 41,889,000 | 41,792,000 | 41,724,000 | 41,429,000 | 41,505,000 | 40,756,000 | 39,142,000 | 38,914,000 | 41,779,881 | 40,165,847 | 38,333,077 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 0 Months Ended | 12 Months Ended | 1 Months Ended | |||
Aug. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 29, 2014 | Jan. 31, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' |
Common Stock Shares Issued | ' | 41,036,787 | 40,727,996 | ' | 1,700,000 | ' |
Proceeds from issuance of common stock | $87,000,000 | $0 | $86,987,000 | $0 | $96,600,000 | ' |
Proceeds from Issuance of Subordinated Notes | ' | ' | ' | ' | ' | 175,000,000 |
Net proceeds from debt issuance | ' | ' | ' | ' | ' | $172,100,000 |
Interest rate | ' | ' | ' | ' | ' | 5.25% |
Debt instrument frequency of payment | ' | ' | ' | ' | ' | 'semi-annually |