Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | PCBK | |
Entity Registrant Name | PACIFIC CONTINENTAL CORP | |
Entity Central Index Key | 1,084,717 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 22,772,400 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 30,506 | $ 30,154 |
Interest-bearing deposits with banks | 45,047 | 36,959 |
Total cash and cash equivalents | 75,553 | 67,113 |
Securities available-for-sale | 470,004 | 470,996 |
Loans, net of deferred fees | 1,921,334 | 1,857,767 |
Allowance for loan losses | (23,451) | (22,454) |
Net loans | 1,897,883 | 1,835,313 |
Interest receivable | 6,859 | 7,107 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Property and equipment, net of accumulated depreciation | 19,675 | 20,208 |
Goodwill and intangible assets | 69,848 | 70,382 |
Deferred tax asset | 11,678 | 12,722 |
Other real estate owned | 10,160 | 12,068 |
Bank-owned life insurance | 35,614 | 35,165 |
Other assets | 4,656 | 4,940 |
Total assets | 2,611,734 | 2,541,437 |
Deposits | ||
Noninterest-bearing demand | 886,556 | 858,996 |
Savings and interest-bearing checking | 1,059,172 | 1,110,224 |
Core time deposits | 60,840 | 65,847 |
Total core deposits | 2,006,568 | 2,035,067 |
Other deposits | 98,733 | 113,036 |
Total deposits | 2,105,301 | 2,148,103 |
Securities sold under agreements to repurchase | 2,146 | 1,966 |
Federal Home Loan Bank borrowings | 169,000 | 65,000 |
Subordinated debentures | 34,143 | 34,096 |
Junior subordinated debentures | 11,389 | 11,311 |
Accrued interest and other payables | 5,625 | 7,206 |
Total liabilities | 2,327,604 | 2,267,682 |
Shareholders' equity | ||
Common stock, no par value, shares authorized: 50,000,000; shares issued and outstanding: 22,772,376 at June 30, 2017, and 22,611,535 at December 31, 2016 | 205,647 | 205,584 |
Retained earnings | 79,166 | 70,486 |
Accumulated other comprehensive (loss) | (683) | (2,315) |
Total shareholders' equity | 284,130 | 273,755 |
Total liabilities and shareholders' equity | $ 2,611,734 | $ 2,541,437 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, no par value | ||
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 22,772,376 | 22,611,535 |
Common stock, shares outstanding | 22,772,376 | 22,611,535 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest and dividend income | ||||
Loans | $ 23,947 | $ 17,951 | $ 47,365 | $ 35,665 |
Taxable securities | 2,285 | 1,838 | 4,572 | 3,555 |
Tax-exempt securities | 506 | 476 | 1,011 | 952 |
Interest-bearing deposits with banks | 98 | 19 | 186 | 64 |
Total interest and dividend income | 26,836 | 20,284 | 53,134 | 40,236 |
Interest expense | ||||
Deposits | 1,184 | 797 | 2,381 | 1,694 |
Federal Home Loan Bank borrowings | 553 | 282 | 807 | 471 |
Subordinated debentures | 575 | 1,145 | ||
Junior subordinated debentures | 91 | 56 | 188 | 113 |
Federal funds purchased | 2 | 1 | 4 | |
Total interest expense | 2,403 | 1,137 | 4,522 | 2,282 |
Net interest income | 24,433 | 19,147 | 48,612 | 37,954 |
Provision for loan losses | 2,475 | 1,950 | 3,375 | 2,195 |
Net interest income after provision for loan losses | 21,958 | 17,197 | 45,237 | 35,759 |
Noninterest income | ||||
Service charges on deposit accounts | 738 | 688 | 1,433 | 1,381 |
Bankcard income | 330 | 294 | 630 | 585 |
Bank-owned life insurance income | 226 | 145 | 448 | 291 |
Net gain on sale of investment securities | 71 | 309 | ||
Impairment losses on investment securities (OTTI) | (1) | (17) | ||
Other noninterest income | 1,216 | 549 | 2,152 | 1,008 |
Total noninterest income | 2,510 | 1,747 | 4,662 | 3,557 |
Noninterest expense | ||||
Salaries and employee benefits | 8,821 | 8,005 | 18,276 | 15,564 |
Property and equipment | 1,278 | 1,087 | 2,606 | 2,202 |
Data processing | 1,053 | 893 | 2,074 | 1,758 |
Legal and professional services | 533 | 1,140 | 1,213 | 1,752 |
Business development | 506 | 516 | 980 | 1,032 |
FDIC insurance assessment | 343 | 286 | 692 | 574 |
Other real estate income, net | (146) | (113) | (28) | (103) |
Merger related expense | 320 | 1,978 | 1,253 | 1,978 |
Other noninterest expense | 1,286 | 1,140 | 2,392 | 2,183 |
Total noninterest expense | 13,994 | 14,932 | 29,458 | 26,940 |
Income before provision for income taxes | 10,474 | 4,012 | 20,441 | 12,376 |
Provision for income taxes | 3,347 | 1,406 | 6,764 | 4,311 |
Net income | $ 7,127 | $ 2,606 | $ 13,677 | $ 8,065 |
Earnings per share | ||||
Basic | $ 0.31 | $ 0.13 | $ 0.60 | $ 0.41 |
Diluted | $ 0.31 | $ 0.13 | $ 0.60 | $ 0.41 |
Weighted average shares outstanding | ||||
Basic | 22,729,953 | 19,697,314 | 22,692,134 | 19,652,231 |
Common stock equivalents attributable to stock-based awards | 167,902 | 171,653 | 162,829 | 153,667 |
Diluted | 22,897,855 | 19,868,967 | 22,854,963 | 19,805,898 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 7,127 | $ 2,606 | $ 13,677 | $ 8,065 |
Available-for-sale securities: | ||||
Unrealized gain arising during the period | 1,964 | 2,856 | 2,766 | 7,327 |
Reclassification adjustment for gains realized in net income | (71) | (309) | ||
Other than temporary impairment | 1 | 17 | ||
Income tax effects | (766) | (1,086) | (1,079) | (2,744) |
Derivative agreements-cash flow hedge | ||||
Unrealized loss arising during the period | (921) | (14) | (1,103) | |
Reclassification adjustment for gains realized in net income | 35 | |||
Income tax effects | 359 | (77) | 430 | |
Total other comprehensive income, net of tax | 1,198 | 1,137 | 1,632 | 3,618 |
Total comprehensive income | $ 8,325 | $ 3,743 | $ 15,309 | $ 11,683 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 31, 2015 | $ 218,491 | $ 156,099 | $ 59,693 | $ 2,699 |
Balance, shares at Dec. 31, 2015 | 19,604,182 | |||
Net income | 19,776 | 19,776 | ||
Other comprehensive income (loss), net of tax | (5,014) | (5,014) | ||
Comprehensive income | 14,762 | |||
Stock issuance and related tax benefit | 734 | $ 734 | ||
Stock issuance and related tax benefit, shares | 153,991 | |||
Stock issued through acquisition | 47,794 | $ 47,794 | ||
Stock issued through acquisition, shares | 2,853,362 | |||
Share-based compensation expense | 1,853 | $ 1,853 | ||
Vested employee RSUs and SARs surrendered to cover tax consequences | (896) | (896) | ||
Cash dividends | (8,983) | (8,983) | ||
Balance at Dec. 31, 2016 | 273,755 | $ 205,584 | 70,486 | (2,315) |
Balance, shares at Dec. 31, 2016 | 22,611,535 | |||
Net income | 13,677 | 13,677 | ||
Other comprehensive income (loss), net of tax | 1,632 | 1,632 | ||
Comprehensive income | 15,309 | |||
Stock issuance and related tax benefit | 861 | $ 861 | ||
Stock issuance and related tax benefit, shares | 160,841 | |||
Share-based compensation expense | 727 | $ 727 | ||
Vested employee RSUs and SARs surrendered to cover tax consequences | (1,525) | (1,525) | ||
Cash dividends | (4,997) | (4,997) | ||
Balance at Jun. 30, 2017 | $ 284,130 | $ 205,647 | $ 79,166 | $ (683) |
Balance, shares at Jun. 30, 2017 | 22,772,376 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Cash dividends per share | $ 0.22 | $ 0.44 |
Retained Earnings [Member] | ||
Cash dividends per share | $ 0.22 | $ 0.44 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 13,677 | $ 8,065 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation and amortization, net of accretion | 3,967 | 3,118 |
Deferred income taxes | (1) | 3 |
Bank-owned life insurance income | (448) | (291) |
Share-based compensation | 877 | 1,030 |
Provision for loan losses | 3,375 | 2,195 |
Gain on sale of investment securities | (309) | |
Valuation adjustment on foreclosed assets | 9 | |
Gain on sale of foreclosed assets | (175) | (173) |
Other than temporary impairment on investment securities | 1 | 17 |
Change in: | ||
Interest receivable | 248 | (613) |
Deferred loan fees | (62) | 422 |
Accrued interest payable and other liabilities | (1,606) | (3,461) |
Other assets | 192 | (558) |
Net cash provided by operating activities | 20,045 | 9,454 |
Cash flows from investing activities: | ||
Proceeds from maturities and sales of available-for-sale investment securities | 26,471 | 69,976 |
Purchase of available-for-sale investment securities | (25,308) | (94,611) |
Net loan principal originations | (66,066) | (81,466) |
Proceeds from sale of foreclosed assets | 2,266 | 808 |
Net purchase of property and equipment | (304) | (1,615) |
(Purchase) Redemption of Federal Home Loan Bank stock | (4,381) | (3,143) |
Net cash used by investing activities | (67,322) | (110,051) |
Cash flows from financing activities: | ||
Change in deposits | (42,802) | 3,039 |
Change in repurchase agreements | 180 | 958 |
Change in Federal Home Loan Bank short-term borrowings | 104,000 | 74,000 |
Proceeds from stock options exercised | 861 | 354 |
Excess tax benefit from stock options exercised | 38 | |
Proceeds from subordinated debenture issuance | 34,092 | |
Dividends paid | (4,997) | (4,327) |
Vested employee RSUs and SARs surrendered to cover tax consequences | (1,525) | (843) |
Net cash provided by financing activities | 55,717 | 107,311 |
Net change in cash and cash equivalents | 8,440 | 6,714 |
Cash and cash equivalents, beginning of period | 67,113 | 36,675 |
Cash and cash equivalents, end of period | 75,553 | 43,389 |
Noncash investing and financing activities: | ||
Transfer of loans to other real estate owned | 183 | 1,005 |
Change in fair value of securities, net of deferred income taxes | 1,688 | 4,291 |
Change in fair value of cash flow hedge, net of deferred income taxes | (673) | |
Cash paid during the period for: | ||
Income taxes | 6,507 | 6,417 |
Interest | $ 4,567 | $ 2,340 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1 - BASIS OF PRESENTATION The accompanying interim consolidated financial statements include the accounts of Pacific Continental Corporation (the “Company”), a bank holding company, and its wholly owned subsidiary, Pacific Continental Bank (the “Bank”), and the Bank’s wholly owned subsidiaries, PCB Services Corporation and PCB Loan Services Corporation (both of which are presently inactive). All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared by the Company without audit and in conformity with generally accepted accounting principles in the United States of America for interim financial information. The consolidated financial statements include all adjustments and normal accruals, which the Company considers necessary for a fair presentation of the results of operations for such interim periods. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, as of the date of the balance sheets and income and expenses for the periods. Material estimates particularly susceptible to material change include allowance for loan losses, goodwill and intangibles and other real estate owned are particularly susceptible to change, and actual results could differ from those estimates. The balance sheet data as of December 31, 2016, was derived from audited consolidated financial statements, but does not include all disclosures contained in the Company’s 2016 Form 10-K. 10-K. |
Securities Available-for-Sale
Securities Available-for-Sale | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available-for-Sale | NOTE 2 – SECURITIES AVAILABLE-FOR-SALE The amortized cost and estimated fair values of securities available-for-sale Amortized Gross Gross Estimated Value Percentage Unrealized Loss Positions Private-label mortgage-backed securities $ 34 $ — $ — $ 34 0.01 % Mortgage-backed securities 231,625 — (4,263 ) 227,362 48.37 % SBA pools 21,506 — (337 ) 21,169 4.50 % Obligations of U.S. government agencies 3,996 — (26 ) 3,970 0.84 % Obligations of states and political subdivisions 29,814 — (576 ) 29,238 6.22 % $ 286,975 $ — $ (5,202 ) $ 281,773 59.95 % Unrealized Gain Positions Obligations of U.S. government agencies $ 21,279 $ 444 $ — $ 21,723 4.62 % Obligations of states and political subdivisions 79,385 2,592 — 81,977 17.44 % Private-label mortgage-backed securities 1,439 186 — 1,625 0.35 % Mortgage-backed securities 63,930 662 — 64,592 13.74 % SBA pools 18,116 198 — 18,314 3.90 % $ 184,149 $ 4,082 $ — $ 188,231 40.05 % $ 471,124 $ 4,082 $ (5,202 ) $ 470,004 100.00 % At June 30, 2017, the Bank held 474 investment securities, of which 170 were in unrealized loss positions. Unrealized losses existed on certain securities classified as obligations of U.S. government agencies, private-label mortgage-backed securities, mortgage-backed securities, SBA pools and obligations of states and political subdivisions. The unrealized losses on all securities are deemed to be temporary, as these securities retain strong credit ratings, continue to perform adequately, and are backed by various government sponsored enterprises. These decreases in fair value are associated with the changes in market interest rates or the widening of market spreads subsequent to the initial purchase of the securities, and not due to concerns regarding the underlying credit of the issuers or the underlying collateral. The decline in value of these securities has resulted from changes in interest rates relative to where these investments fall within the yield curve and their individual characteristics. Because the Company does not currently intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be upon maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2017. The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2017: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 3,970 $ (26 ) $ — $ — Obligations of states and political subdivisions 29,238 (576 ) — — Private-label mortgage-backed securities 34 — — — Mortgage-backed securities 222,179 (4,181 ) 5,183 (82 ) SBA pools 17,391 (304 ) 3,778 (33 ) $ 272,812 $ (5,087 ) $ 8,961 $ (115 ) On a monthly basis, management reviews all private-label mortgage-backed securities for the presence of other than temporary impairment (“OTTI”). During the three months ended June 30, 2017, no additional OTTI was booked. The Bank recorded $1 and $17 of OTTI during the six months ended June 30, 2017 and 2016, respectively, with no additional OTTI booked during the three months ended June 30, 2017, and 2016, respectively. Management’s evaluation included the use of independently-generated third-party credit surveillance reports that analyze the loans underlying each security. These reports include estimates of default rates and severities, life collateral loss rates and static voluntary prepayment assumptions to generate estimated cash flows at the individual security level. Additionally, management considered factors such as downgraded credit ratings, severity and duration of the impairments, the stability of the issuers and any discounts paid when the securities were purchased. Management has considered all available information related to the collectability of the impaired investment securities and believes that the estimated credit loss is appropriate. Following is a tabular roll-forward of the aggregate amount of credit-related OTTI at the beginning and end of the periods presented along with the amounts recognized in earnings during the three months and six months ended June 30, 2017, and 2016: Three months ended Six months ended 2017 2016 2017 2016 Balance, beginning of period: $ 271 $ 266 $ 270 $ 249 Additions: Initial OTTI credit loss — — 1 17 Balance, end of period: $ 271 $ 266 $ 271 $ 266 At June 30, 2017, nine of the Company’s private-label mortgage-backed securities, with aggregate amortized cost of $1,147 were classified as substandard as their underlying credit was considered impaired. At December 31, 2016, nine securities with an aggregate amortized cost of $1,338 were classified as substandard. At June 30, 2017, and December 31, 2016, the projected average life of the securities portfolio was 4.56 years and 4.94 years, respectively. The amortized cost and estimated fair values of securities available-for-sale Amortized Gross Gross Estimated Percentage Unrealized Loss Positions Obligations of U.S. government agencies $ 3,995 $ — $ (49 ) $ 3,946 0.84 % Obligations of states and political subdivisions 41,016 — (1,279 ) 39,737 8.44 % Private-label mortgage-backed securities 241 — (23 ) 218 0.05 % Mortgage-backed securities 221,835 — (5,362 ) 216,473 45.96 % SBA pools 26,758 — (493 ) 26,265 5.58 % $ 293,845 $ — $ (7,206 ) $ 286,639 60.86 % Unrealized Gain Positions Obligations of U.S. government agencies $ 21,290 $ 384 $ — $ 21,674 4.60 % Obligations of states and political subdivisions 69,148 1,854 — 71,002 15.07 % Private-label mortgage-backed securities 1,566 153 — 1,719 0.36 % Mortgage-backed securities 72,752 811 — 73,563 15.62 % SBA pools 16,281 118 — 16,399 3.48 % $ 181,037 $ 3,320 $ — $ 184,357 39.14 % $ 474,882 $ 3,320 $ (7,206 ) $ 470,996 100.00 % At December 31, 2016, the Bank held 485 investment securities, of which 179 were in unrealized loss positions. The following table presents a summary of securities in a continuous unrealized loss position at December 31, 2016: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 3,946 $ (49 ) $ — $ — Obligations of states and political subdivisions 39,737 (1,279 ) — — Private-label mortgage-backed securities — — 218 (23 ) Mortgage-backed securities 211,721 (5,266 ) 4,752 (96 ) SBA pools 22,076 (458 ) 4,189 (35 ) $ 277,480 $ (7,052 ) $ 9,159 $ (154 ) The amortized cost and estimated fair value of securities at June 30, 2017, by maturity, are shown below. Obligations of U.S. government agencies, states and political subdivisions and corporate securities are shown by contractual maturity. Mortgage-backed securities and SBA variable pools are shown by projected average life. June 30, 2017 Amortized Estimated Value Due in one year or less $ 17,733 $ 17,772 Due after one year through 5 years 245,506 245,531 Due after 5 years through 10 years 170,108 169,136 Due after 10 years 37,777 37,565 $ 471,124 $ 470,004 During the quarter ended June 30, 2017, there were no investment securities sold. During the quarter ended June 30, 2016, twenty-two The following table presents investment securities which were pledged to secure public deposits and repurchase agreements as permitted or required by law: June 30, 2017 December 31, 2016 Amortized Estimated Amortized Estimated Pledged to secure public deposits $ 23,121 $ 23,764 $ 25,257 $ 25,683 Pledged to secure repurchase agreements 5,069 5,046 3,579 3,573 $ 28,190 $ 28,810 $ 28,836 $ 29,256 At June 30, 2017, and December 31, 2016, there was an outstanding balance for repurchase agreements of $2,146 and $1,966, respectively. |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses, and Credit Quality Indicators | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans, Allowance for Loan Losses, and Credit Quality Indicators | NOTE 3 - LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY INDICATORS Loans are stated at the amount of unpaid principal net of loan premiums or discounts for purchased loans, net of deferred loan origination fees, discounts associated with retained portions of loans sold, and an allowance for loan losses. Interest on loans is calculated using the simple-interest method on daily balances of the principal amount outstanding. Loan origination fees, net of origination costs and discounts, are amortized over the lives of the loans as adjustments to yield. Major classifications of period-end June 30, % of Gross December 31, % of Gross Real estate loans Multi-family residential $ 83,276 4.33 % $ 74,340 4.00 % Residential 1-4 60,026 3.12 % 61,548 3.31 % Owner-occupied commercial 467,902 24.33 % 461,557 24.82 % Nonowner-occupied commercial 465,584 24.21 % 451,893 24.30 % Total permanent real estate loans 1,076,788 55.99 % 1,049,338 56.43 % Construction loans Multi-family residential 31,351 1.63 % 22,252 1.20 % Residential 1-4 55,850 2.90 % 43,532 2.34 % Commercial real estate 87,489 4.55 % 76,301 4.10 % Commercial bare land and acquisition & development 9,510 0.49 % 15,081 0.81 % Residential bare land and acquisition & development 8,849 0.46 % 10,645 0.57 % Total construction real estate loans 193,049 10.03 % 167,811 9.02 % Total real estate loans 1,269,837 66.02 % 1,217,149 65.45 % Commercial loans 636,110 33.08 % 630,491 33.89 % Consumer loans 3,094 0.16 % 2,922 0.16 % Other loans 14,251 0.74 % 9,225 0.50 % Gross loans 1,923,292 100.00 % 1,859,787 100.00 % Deferred loan origination fees (1,958 ) (2,020 ) 1,921,334 1,857,767 Allowance for loan losses (23,451 ) (22,454 ) Total loans, net of allowance for loan losses and net deferred fees $ 1,897,883 $ 1,835,313 At June 30, 2017, outstanding loans to dental professionals totaled $387,358 and represented 20.14% of total outstanding loan principal balances compared to dental professional loans of $377,478, or 20.30% of total outstanding loan principal balance at December 31, 2016. Additional information about the Company’s dental portfolio can be found in Note 4 to these consolidated financial statements. As of June 30, 2017, there were no other industry concentrations in excess of 10% of the total loan portfolio. However, as of June 30, 2017, 66.02% of the Company’s loan portfolio was collateralized by real estate and is, therefore, susceptible to change based on local market conditions. While appropriate action is taken to manage identified concentration risks, management believes that the loan portfolio is well diversified by geographic location and among industry groups. Purchased Credit Impaired Loans The following table represents the contractually required principal balance of purchased credit impaired loans and the carrying balance at June 30, 2017 and December 31, 2016: June 30, December 31, Contractually required principal payments for purchased credit impaired loans $ 19,276 $ 22,941 Accretable yield (1,272 ) (1,453 ) Nonaccretable yield (599 ) (809 ) Balance of purchased credit impaired loans $ 17,405 $ 20,679 The following tables summarize the changes in the accretable yield for purchased credit impaired loans for the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 2016 Capital Foundation Total Century Capital Total Balance, beginning of period $ 727 $ 632 $ 1,359 $ 11 $ 939 $ 950 Additions — 742 742 — — — Accretion to interest income (45 ) (50 ) (95 ) (11 ) (79 ) (90 ) Balance, end of period $ 682 $ 1,324 $ 2,006 $ — $ 860 $ 860 Six months ended June 30, 2017 2016 Capital Foundation Total Century Capital Total Balance, beginning of period $ 765 $ 688 $ 1,453 $ 39 $ 1,030 $ 1,069 Additions — 742 742 — — — Accretion to interest income (83 ) (106 ) (189 ) (39 ) (170 ) (209 ) Balance, end of period $ 682 $ 1,324 $ 2,006 $ — $ 860 $ 860 Allowance for Loan Losses The allowance for loan losses is established as an amount that management considers adequate to absorb possible losses on existing loans within the portfolio. The allowance consists of general, specific and unallocated components. The general component is based upon all loans collectively evaluated for impairment. The specific component is based upon all loans individually evaluated for impairment. The unallocated component represents credit losses inherent in the loan portfolio that may not have been contemplated in the general risk factors or the specific allowance analysis. Loans are charged against the allowance when management believes the collection of principal and interest is unlikely. The Company performs regular credit reviews of the loan portfolio to determine the credit quality and adherence to underwriting standards. When loans are originated, they are assigned a risk rating that is reassessed periodically during the term of the loan through the credit review process. The Company’s internal risk rating methodology assigns risk ratings ranging from one to ten, where a higher rating represents higher risk. The ten-point Estimated credit losses reflect consideration of all significant factors that affect the collectability of the loan portfolio. The historical loss rate for each group of loans with similar risk characteristics is determined based on the Company’s own loss experience in that group. Historical loss experience and recent trends in losses provide a reasonable starting point for analysis; however, they do not by themselves form a sufficient basis to determine the appropriate level for the allowance for loan losses. Qualitative or environmental factors that are likely to cause estimated credit losses to differ from historical losses are also considered, including but not limited to: • Changes in international, regional and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments, • Changes in the nature and volume of the portfolio and in the terms of loans, • Changes in the volume and severity of past due loans, the volume of nonaccrual loans and the volume and severity of adversely classified or graded loans, • Changes in the quality of the institution’s loan review system, • Changes in the value of underlying collateral for collateral-dependent loans, • The existence and effect of any concentrations of credit, and changes in the level of such concentrations, • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio, • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, • Changes in the current and future U.S. political environment, including debt ceiling negotiations, government shutdown and healthcare reform that may affect national, regional and local economic conditions, taxation, or disruption of national or global financial markets. The adequacy of the allowance for loan losses and the reserve for unfunded commitments is determined using a consistent, systematic methodology and is monitored regularly based on management’s evaluation of numerous factors. For each portfolio segment, these factors include: • The quality of the current loan portfolio, • The trend in the migration of the loan portfolio’s risk ratings, • The velocity of migration of losses and potential losses, • Current economic conditions, • Loan concentrations, • Loan growth rates, • Past-due • Evaluation of specific loss estimates for all significant problem loans, • Recovery experience, and • Peer comparison loss rates. A summary of the activity in the allowance for loan losses by major loan classification follows: For the three months ended June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 7,717 $ 11,299 $ 2,051 $ 40 $ 1,505 $ 22,612 Charge-offs (1,688 ) — — (5 ) — (1,693 ) Recoveries 24 32 1 — — 57 Provision (reclassification) 2,640 368 90 6 (629 ) 2,475 Ending balance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 For the six months ended June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 8,614 $ 10,872 $ 1,781 $ 41 $ 1,146 $ 22,454 Charge-offs (2,328 ) (150 ) — (5 ) — (2,483 ) Recoveries 60 43 1 1 — 105 Provision (reclassification) 2,347 934 360 4 (270 ) 3,375 Ending balance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 At June 30, 2017, the allowance for loan losses on dental loans was $5,257, compared to $4,713 at December 31, 2016. See Note 4 for additional information on the dental loan portfolio. The following table presents the allowance and recorded investment in loans by major loan classification at June 30, 2017 and December 31, 2016: Balances as of June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 8,225 $ 11,699 $ 2,142 $ 41 $ 876 $ 22,983 Ending allowance: individually evaluated for impairment 468 — — — — 468 Ending allowance: loans acquired with deteriorated credit quality — — — — — — Total ending allowance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 Ending loan balance: collectively evaluated for impairment $ 640,747 $ 1,056,003 $ 193,049 $ 3,094 $ — $ 1,892,893 Ending loan balance: individually evaluated for impairment 3,539 7,835 — — — 11,374 Ending loan balance: loans acquired with deteriorated credit quality 6,075 12,950 — — — 19,025 Total ending loan balance $ 650,361 $ 1,076,788 $ 193,049 $ 3,094 $ — $ 1,923,292 Balances as of December 31, 2016 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 7,881 $ 10,869 $ 1,781 $ 41 $ 1,146 $ 21,718 Ending allowance: individually evaluated for impairment 733 3 — — — 736 Ending allowance: loans acquired with deteriorated credit quality — — — — — — Total ending allowance $ 8,614 $ 10,872 $ 1,781 $ 41 $ 1,146 $ 22,454 Ending loan balance: collectively evaluated for impairment $ 628,773 $ 1,027,354 $ 167,491 $ 2,922 $ — $ 1,826,540 Ending loan balance: individually evaluated for impairment 4,396 7,852 320 — — 12,568 Ending loan balance: loans acquired with deteriorated credit quality 6,547 14,132 — — — 20,679 Total ending loan balance $ 639,716 $ 1,049,338 $ 167,811 $ 2,922 $ — $ 1,859,787 The June 30, 2017, ending allowance includes $468 in specific allowance for $11,374 of impaired loans ($9,231 net of government guarantees). At December 31, 2016, the Company had $12,568 of impaired loans ($10,567 net of government guarantees) with a specific allowance of $736. Management believes that the allowance for loan losses was adequate as of June 30, 2017. However, future loan losses may exceed the levels provided for in the allowance for loan losses and could possibly result in additional charges to the provision for loan losses. Credit Quality Indicators The Company uses the following loan grades, which are also often used by regulators when assessing the credit quality of a loan portfolio. Pass 1-6. Special Mention Substandard Doubtful Management strives to consistently apply these definitions when allocating its loans by loan grade. The loan portfolio is continuously monitored for changes in credit quality and management takes appropriate action to update the loan risk ratings accordingly. Management has not changed the Company’s policy towards its use of credit quality indicators during the periods reported. The following tables present the Company’s loan portfolio information by loan type and credit grade at June 30, 2017 and December 31, 2016: Credit Quality Indicators As of June 30, 2017 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 83,276 $ — $ — $ — $ 83,276 Residential 1-4 58,856 — 1,170 — 60,026 Owner-occupied commercial 451,539 — 16,363 — 467,902 Nonowner-occupied commercial 459,160 — 6,424 — 465,584 Total real estate loans 1,052,831 — 23,957 — 1,076,788 Construction Multi-family residential 31,351 — — — 31,351 Residential 1-4 55,850 — — — 55,850 Commercial real estate 87,489 — — — 87,489 Commercial bare land and acquisition & development 9,510 — — — 9,510 Residential bare land and acquisition & development 8,298 — 551 — 8,849 Total construction loans 192,498 — 551 — 193,049 Commercial and other 636,047 — 13,179 1,135 650,361 Consumer 3,094 — — — 3,094 Totals $ 1,884,470 $ — $ 37,687 $ 1,135 $ 1,923,292 Percentage of portfolio 97.98 % 0.00 % 1.96 % 0.06 % 100.00 % Credit Quality Indicators As of December 31, 2016 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 74,340 $ — $ — $ — $ 74,340 Residential 1-4 58,286 — 3,262 — 61,548 Owner-occupied commercial 443,737 — 17,820 — 461,557 Nonowner-occupied commercial 445,283 — 6,610 — 451,893 Total real estate loans 1,021,646 — 27,692 — 1,049,338 Construction Multi-family residential 22,252 — — — 22,252 Residential 1-4 43,532 — — — 43,532 Commercial real estate 76,301 — — — 76,301 Commercial bare land and acquisition & development 15,081 — — — 15,081 Residential bare land and acquisition & development 9,852 — 793 — 10,645 Total construction loans 167,018 — 793 — 167,811 Commercial and other 621,165 — 16,890 1,661 639,716 Consumer 2,922 — — — 2,922 Totals $ 1,812,751 $ — $ 45,375 $ 1,661 $ 1,859,787 Percentage of portfolio 97.47 % 0.00 % 2.44 % 0.09 % 100.00 % At June 30, 2017 and December 31, 2016, the Company had $219, and $1,026, respectively, in unfunded commitments on its classified loans, which amounts are included in the calculation of our classified asset ratio. Past Due and Nonaccrual Loans The Company uses the terms “past due” and “delinquent” interchangeably. Amortizing loans are considered past due or delinquent based upon the number of contractually required payments not made. Delinquency status for all contractually matured loans, commercial and commercial real estate loans with non-monthly The following tables present an aging analysis of past due and nonaccrual loans at June 30, 2017 and December 31, 2016: Age Analysis of Loans Receivable As of June 30, 2017 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 83,276 $ 83,276 Residential 1-4 — 33 — 59 92 59,200 59,292 Owner-occupied commercial — — — 529 529 458,829 459,358 Nonowner-occupied commercial 1,298 — — 557 1,855 460,644 462,499 Total real estate loans 1,298 33 — 1,145 2,476 1,061,949 1,064,425 Construction Multi-family residential — — — — — 31,351 31,351 Residential 1-4 — — — — — 55,850 55,850 Commercial real estate — — — — — 87,489 87,489 Commercial bare land and acquisition & development — — — — — 9,510 9,510 Residential bare land and acquisition & development 118 — — — 118 8,731 8,849 Total construction loans 118 — — — 118 192,931 193,049 Commercial and other 147 — — 2,441 2,588 642,732 645,320 Consumer 1 — — — 1 3,092 3,093 Total $ 1,564 $ 33 $ — $ 3,586 $ 5,183 $ 1,900,704 $ 1,905,887 Age Analysis of Loans Receivable As of December 31, 2016 30-59 Past Due Still Accruing 60-89 Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 74,340 $ 74,340 Residential 1-4 — — — 158 158 59,241 59,399 Owner-occupied commercial — — — — — 452,748 452,748 Nonowner-occupied commercial — — — 601 601 448,118 448,719 Total real estate loans — — — 759 759 1,034,447 1,035,206 Construction Multi-family residential — — — — — 22,252 22,252 Residential 1-4 — — — — — 43,532 43,532 Commercial real estate — — — — — 76,301 76,301 Commercial bare land and acquisition & development — — — — — 15,081 15,081 Residential bare land and acquisition & development — — — — — 10,645 10,645 Total construction loans — — — — — 167,811 167,811 Commercial and other 363 366 — 2,794 3,523 629,646 633,169 Consumer — — — — — 2,922 2,922 Total $ 363 $ 366 $ — $ 3,553 $ 4,282 $ 1,834,826 $ 1,839,108 Impaired Loans Regular credit reviews of the portfolio are performed to identify loans that are considered potentially impaired. Potentially impaired loans are referred to the Asset-Liability Committee (ALCO) for review and are included in the specific calculation of allowance for loan losses. A loan is considered impaired when, based on current information and events, the Company is unlikely to collect all principal and interest due according to the terms of the loan agreement. When the amount of the impairment represents a confirmed loss, it is charged off against the allowance for loan losses. Impaired loans are often reported net of government guarantees to the extent that the guarantees are expected to be collected. Impaired loans generally include all loans classified as nonaccrual and troubled debt restructurings. Accrual of interest is discontinued on impaired loans when management believes that, after considering economic and business conditions and collection efforts, the borrower’s financial condition is such that collection of principal or interest is doubtful. Accrued, but uncollected, interest is generally reversed when loans are placed on nonaccrual status. Interest income is subsequently recognized only to the extent cash payments are received satisfying all delinquent principal and interest amounts, and the prospects for future payments in accordance with the loan agreement appear relatively certain. In accordance with GAAP, payments received on nonaccrual loans are applied to the principal balance and no interest income is recognized. Interest income may be recognized on impaired loans that are not on nonaccrual status. The following tables display an analysis of the Company’s impaired loans at June 30, 2017, and December 31, 2016: Impaired Loan Analysis As of June 30, 2017 Recorded Recorded Total Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 296 296 296 346 — Owner-occupied commercial 4,631 846 5,477 5,477 5,306 — Nonowner-occupied commercial 2,062 2,062 2,123 2,071 — Total real estate loans 6,989 846 7,835 7,896 7,723 — Construction Multi-family residential — — — — — — Residential 1-4 — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — — — — — — Total construction loans — — — — — — Commercial and other 2,919 620 3,539 5,532 3,105 468 Consumer — — — — — Total impaired loans $ 9,908 $ 1,466 $ 11,374 $ 13,428 $ 10,828 $ 468 Impaired Loan Analysis As of December 31, 2016 Recorded Recorded Total Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 454 300 754 775 644 1 Owner-occupied commercial 4,106 865 4,971 4,971 1,804 2 Nonowner-occupied commercial 2,127 — 2,127 2,189 2,228 — Total real estate loans 6,687 1,165 7,852 7,935 4,676 3 Construction Multi-family residential — — — — — — Residential 1-4 — — — — 37 — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development 320 — 320 320 1,556 — Total construction loans 320 — 320 320 1,593 — Commercial and other 2,255 2,141 4,396 4,767 3,518 733 Consumer — — — — — — Total impaired loans $ 9,262 $ 3,306 $ 12,568 $ 13,022 $ 9,787 $ 736 The impaired balances reported above are not adjusted for government guarantees of $2,143, and $2,001 at June 30, 2017 and December 31, 2016, respectively. The recorded investment in impaired loans, net of government guarantees, totaled $9,231 and $10,567 at June 30, 2017, and December 31, 2016, respectively. Troubled Debt Restructurings In the normal course of business, the Company may modify the terms of certain loans, attempting to protect as much of its investment as possible. Management evaluates the circumstances surrounding each modification to determine whether it is a troubled debt restructuring (“TDR”). TDRs exist when 1) the restructuring constitutes a concession, and 2) the debtor is experiencing financial difficulties. The following table displays the Company’s TDRs by class at June 30, 2017 and December 31, 2016: Troubled Debt Restructurings as of June 30, 2017 December 31, 2016 Number of Contracts Post-Modification Outstanding Recorded Investment Number of Contracts Post-Modification Outstanding Recorded Investment Real estate Multifamily residential — $ — — $ — Residential 1-4 2 296 4 754 Owner-occupied commercial 4 5,225 4 5,447 Non owner-occupied commercial 6 2,062 6 2,127 Total real estate loans 12 7,583 14 8,328 Construction Multifamily residential — — — — Residential 1-4 — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other 15 2,228 16 2,901 Consumer — — — — Total 27 $ 9,811 30 $ 11,229 The recorded investment in TDRs on nonaccrual status totaled $1,710 and $2,250 at June 30, 2017 and December 31, 2016, respectively. The Company’s policy is that loans placed on nonaccrual will typically remain on nonaccrual status until all principal and interest payments are brought current and the prospect for future payment in accordance with the loan agreement appears relatively certain. The Company’s policy generally refers to a minimum of six months of payment performance as sufficient to warrant a return to accrual status. For the six months ended June 30, 2017, the Company restructured one loan into a TDR for which impairment was previously measured under the Company’s general loan loss allowance methodology. The types of modifications offered can generally be described in the following categories: • Rate Modification • Term Modification • Interest-only Modification • Combination Modification Below is a table of the newly restructured loans identified in the six months ended June 30, 2017 and 2016. Troubled Debt Restructurings Identified During the six months ended June 30, 2017 Rate Term Interest-only Combination Real estate Multi-family residential $ — $ — $ — $ — Residential 1-4 — — — 50 Owner-occupied commercial — — — — Nonowner-occupied commercial — — — — Total real estate loans — — — 50 Construction Multi-family residential — — — — Residential 1-4 — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other — — — — Consumer — — — — Total $ — $ — $ — $ 50 There were no TDRs identified in the three months ended June 30, 2017. Subsequent to a loan being classified as a TDR, a borrower may become unwilling or unable to abide by the terms of the modified agreement. In such cases of default, the Company takes appropriate action to recover principal and interest payments including the use of foreclosure proceedings. There were no TDRs that subsequently defaulted within the first twelve months of restructure during the periods ended June 30, 2017 and 2016. At June 30, 2017 and December 31, 2016, the Company had no commitments to lend additional funds on loans restructured as TDRs. |
Dental Loan Portfolio
Dental Loan Portfolio | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Dental Loan Portfolio | NOTE 4 – DENTAL LOAN PORTFOLIO Dental lending is not operated as a business segment, and dental loans are made in the normal course of commercial lending activities throughout the Company. However, to assist in understanding the concentrations and risks associated with the Company’s loan portfolio, the following Note has been included to provide additional information relating to the Company’s dental loan portfolio. At June 30, 2017 and December 31, 2016, loans to dental professionals totaled $387,358 and $377,478, respectively, and represented 20.14%, and 20.30% in principal amount of total outstanding loans, respectively. As of June 30, 2017 and December 31, 2016, dental loans were supported by government guarantees totaling $4,879 and $5,641, respectively. These guarantees represented 1.34% and 1.49% in principal amount of the outstanding dental loan balances as of such respective dates. The Company defines a “dental loan” as a loan to dental professionals for the purpose of practice expansion, acquisition or other purpose supported by the cash flows of a dental practice. Loan Classification Major classifications of dental loans at June 30, 2017 and December 31, 2016, were as follows: June 30, 2017 December 31, 2016 Real estate secured loans: Owner-occupied commercial $ 61,383 $ 63,793 Other dental real estate loans 423 806 Total permanent real estate loans 61,806 64,599 Dental construction loans 7,351 4,109 Total real estate loans 69,157 68,708 Commercial loans 318,201 308,770 Gross loans $ 387,358 $ 377,478 Market Area The Bank’s principal “market area” is within the States of Oregon and Washington west of the Cascade Mountain Range. This area is serviced by branch locations in Eugene, Portland and the Puget Sound. The Company also makes national dental loans throughout the United States, and currently has dental loans in 45 states. National loan relationships are maintained and serviced by Bank personnel primarily located in Portland. The following table summarizes the Company’s dental lending by borrower location: June 30, 2017 December 31, 2016 Local $ 151,062 $ 150,268 National 236,296 227,210 Total $ 387,358 $ 377,478 Allowance The allowance for loan losses identified for the dental loan portfolio is established as an amount that management considers adequate to absorb possible losses on existing loans within the dental portfolio. The allowance related to the dental loan portfolio consists of general and specific components. The general component is based upon all dental loans collectively evaluated for impairment, including qualitative conditions associated with: loan type, out-of-market start-up Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Balance, beginning of period $ 4,174 $ 3,884 $ 4,713 $ 4,022 Provision 2,711 253 2,804 103 Charge-offs (1,635 ) — (2,275 ) — Recoveries 7 14 15 26 Balance, end of period $ 5,257 $ 4,151 $ 5,257 $ 4,151 Credit Quality Please refer to Note 3 for additional information on the definitions of the credit quality indicators. The following tables present the Company’s dental loan portfolio by market and credit grade at June 30, 2017 and December 31, 2016: As of June 30, 2017 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 149,705 $ — $ 1,357 $ — $ 151,062 National 234,530 — 1,766 — 236,296 Total $ 384,235 $ — $ 3,123 $ — $ 387,358 As of December 31, 2016 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 148,805 $ — $ 1,463 $ — $ 150,268 National 224,493 — 1,056 1,661 227,210 Total $ 373,298 $ — $ 2,519 $ 1,661 $ 377,478 Past Due and Nonaccrual Loans Please refer to Note 3 for additional information on the definitions of “past due.” The following tables present an aged analysis of the dental loan portfolio by market, including nonaccrual loans, as of June 30, 2017 and December 31, 2016: As of June 30, 2017 30-59 Days 60-89 Days Greater Still Accruing Nonaccrual Total Past Total Total Loans Local $ — $ — $ — $ 379 $ 378 $ 150,684 $ 151,062 National — — — 828 828 235,468 236,296 Total $ — $ — $ — $ 1,207 $ 1,206 $ 386,152 $ 387,358 As of December 31, 2016 30-59 60-89 Greater Than 90 Days Nonaccrual Total Past Total Total Loans Local $ — $ — $ — $ 407 $ 407 $ 149,861 $ 150,268 National 263 366 — 1,660 2,289 224,921 227,210 Total $ 263 $ 366 $ — $ 2,067 $ 2,696 $ 374,782 $ 377,478 |
Securities Sold Under Agreement
Securities Sold Under Agreement to Repurchase | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreement to Repurchase | NOTE 5 – SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE The Company sells certain securities under agreements to repurchase with its customers. The agreements transacted with its customers are utilized as an overnight investment product. The amounts received under these agreements represent short-term borrowings and are reflected as a liability in the consolidated balance sheets. The securities underlying these agreements are included in investment securities in the consolidated balance sheets. The Company has no control over the market value of the securities, which fluctuates due to market conditions. However, the Company is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase agreement price. The Company manages this risk by maintaining an unpledged securities portfolio that it believes is sufficient to cover a decline in the market value of the securities sold under agreements to repurchase. All securities sold under agreements to repurchase had a daily maturity date. See Note 2 in the Notes to Consolidated Financial Statements 10-Q The following table presents information regarding securities sold under agreements to repurchase at June 30, 2017 and December 31, 2016: June 30, December 31, 2017 2016 Balance at end of period $ 2,146 $ 1,966 Average balance outstanding for the period 2,283 702 Maximum amount outstanding at any month end during the period 3,100 2,017 Weighted average interest rate for the period 0.08 % 0.06 % Weighted average interest rate at period end 0.08 % 0.08 % |
Federal Funds and Overnight Fun
Federal Funds and Overnight Funds Purchased | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Federal Funds and Overnight Funds Purchased | NOTE 6 – FEDERAL FUNDS AND OVERNIGHT FUNDS PURCHASED The Company had unsecured federal funds borrowing lines with various correspondent banks totaling $154,000 at June 30, 2017 and $154,000 at December 31, 2016. The terms of the lines are subject to change with interest payable at the then stated rate. At June 30, 2017 and December 31, 2016, there were no borrowings outstanding on these lines. The Company also had a secured overnight borrowing line available from the Federal Reserve Bank that totaled $86,342 and $80,784 at June 30, 2017 and December 31, 2016, respectively. The Federal Reserve Bank borrowing line is secured through the pledging of $142,145 and $143,679 at June 30, 2017 and December 31, 2016, respectively, of commercial loans under the Company’s Borrower-In-Custody |
Federal Home Loan Bank Borrowin
Federal Home Loan Bank Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Borrowings | NOTE 7 – FEDERAL HOME LOAN BANK BORROWINGS The Company has a borrowing limit with the Federal Home Loan Bank of Des Moines (“FHLB”) equal to 35% of total assets, subject to the value of discounted collateral pledged and stock holdings. At June 30, 2017, the maximum borrowing line was $914,107; however, the FHLB borrowing line was limited by the discounted value of collateral pledged. At June 30, 2017, the Company had pledged $895,332 in real estate loans to the FHLB that had a discounted collateral value of $652,115. There was $169,000 borrowed on this line at June 30, 2017. At December 31, 2016, the maximum borrowing line was $889,503; however, the FHLB borrowing line was limited by the discounted value of collateral pledged. At December 31, 2016, the Company had pledged $867,596 in real estate loans to the FHLB that had a discounted collateral value of $632,202. There was $65,000 borrowed on this line at December 31, 2016. Below is a summary of outstanding FHLB borrowings by maturity. Current June 30, Cash management advance NA $ 164,000 2017 — — 2018 1.55 % 3,000 2019 — — 2020 — — 2021 — — Thereafter 3.85 % 2,000 $ 169,000 |
Borrowed Funds
Borrowed Funds | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | NOTE 8 – BORROWED FUNDS Subordinated Debentures In June 2016, the Company issued $35,000 in aggregate principal amount of fixed-to-floating The Notes are included in Tier 2 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. Junior Subordinated Debentures In November 2005, the Company completed the private placement of $8,000 in aggregate liquidation amount of trust preferred securities (the “TPS”), through its subsidiary, Pacific Continental Capital Trust I. The interest rate on the TPS was 6.265% until January 2011, after which it was converted to a floating rate of three-month LIBOR plus 135 basis points. The TPS mature in 2035, but are callable by the Company at par any time after January 7, 2011. The Company issued $8,248 of junior subordinated debentures (the “Debentures”) to the trust in exchange for ownership of all of the common security of the trust and the proceeds of the preferred securities sold by the trust. In accordance with current accounting guidance, the trust is not consolidated in the Company’s financial statements, but rather the Debentures are shown as a liability. The interest rate on the Debentures was 6.265% until January 2011, after which it was converted to a floating rate of three-month LIBOR plus 135 basis points. The Debentures have the same prepayment provisions as the TPS. On September 6, 2016, the Company completed the acquisition of Foundation Bancorp, Inc. At that time, the Company assumed ownership of Foundation Statutory Trust I, which had previously issued $6,000 in aggregate liquidation amount of trust preferred securities. The interest rate on these trust preferred securities is a floating rate of three-month LIBOR plus 173 basis points. The Company also acquired $6,148 of junior subordinated debentures (the “Foundation Debentures”) issued to the trust in exchange for ownership of all of the common securities of the trust and the proceeds of the preferred securities sold by the trust. In accordance with current accounting guidance, the trust is not consolidated in the Company’s financial statements, but rather the Foundation Debentures are shown as a liability, and acquired at an acquisition date fair value of $3,013. The Debentures and the Foundation Debentures are included in the Company’s Tier I capital (with certain limitations applicable) under current regulatory guidelines and interpretations. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | NOTE 9 – SHARE-BASED COMPENSATION The Company’s 2006 Stock Option and Equity Compensation Plan (the “2006 SOEC Plan”) authorizes the award of up to 1,550,000 shares in stock-based awards. The awards granted under this plan are service-based and are subject to vesting. The Compensation Committee of the Board of Directors may impose any terms or conditions on the vesting of an award that it determines to be appropriate. Awards granted generally vest over four years and have a maximum life of ten years. Awards may be granted at exercise prices of not less than 100.00% of the fair market value of the Company’s common stock at the grant date. Pursuant to the 2006 SOEC Plan, incentive stock options (“ISOs”), nonqualified stock options, restricted stock, restricted stock units (“RSUs”), or stock appreciation rights (“SARs”) may be awarded to attract and retain the best available personnel to the Corporation and its subsidiary. SARs may be settled in common stock or cash as determined at the date of issuance. Liability-based awards (including all cash-settled SARs) have no impact on the number of shares available to be issued within the plan. Additionally, non-qualified The following table summarizes the shares and the aggregate grant-date fair value of the equity-based awards granted: Six months ended June 30, June 30, 2017 2016 Shares Grant Date Shares Grant Date Equity-based awards: Director restricted stock - no restrictions — $ — 14,400 $ 240 Employee RSUs - 4 year vesting 1,192 30 130,151 2,161 Employee RSUs - vest immediately — — 300 5 Employee RSUs - 2 year vesting 1,965 49 — — $ 3,157 $ 79 $ 144,851 $ 2,406 The following table identifies the compensation expense recorded and tax benefits received by the Company on its share-based compensation plans for the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 2016 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ — $ — $ 240 $ 91 Employee RSUs 349 133 406 154 Liability-based awards: Employee cash SARs — — — — $ 349 $ 133 $ 646 $ 245 Six months ended June 30, 2017 2016 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ — $ — $ 240 $ 91 Employee RSUs 727 276 790 300 Liability-based awards: Employee cash SARs 150 — — — $ 877 $ 276 $ 1,030 $ 391 The following table provides a summary of the Company’s RSU activity, including the weighted average grant date fair value per share for the six months ended June 30, 2017: Six months ended June 30, 2017 Non-Vested Weighted Average Balance, beginning of period 300,840 $ 14.30 Granted 1,985 25.15 Vested shares issued (70,649 ) 13.51 Vested shares surrendered for taxes (43,920 ) 13.51 Forfeited or expired (7,636 ) 15.40 Balance, end of period 180,620 14.88 The following table identifies stock options, employee stock settled SARs, and employee cash settled SARs exercised during the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 Number Weighted Intrinsic Number Net Cash Stock options 56,776 $ 12.65 $ 734 33,336 NA Employee stock SARs 8,014 $ 12.44 47 2,464 NA Employee cash SARs 809 $ 14.44 NA NA $ 26 65,599 $ 781 35,800 $ 26 Six months ended June 30, 2017 Number Weighted Intrinsic Number Net Cash Stock options 137,307 $ 14.90 $ 1,396 79,601 NA Employee stock SARs 46,721 $ 15.85 111 10,590 NA Employee cash SARs 28,150 $ 16.47 NA NA $ 169 212,178 $ 1,507 90,191 $ 169 Three months ended June 30, 2016 Number Weighted Intrinsic Number Net Cash Stock options 11,951 $ 12.07 $ 54 11,951 NA Employee stock SARs 32,304 $ 13.41 16 3,871 NA Employee cash SARs 16,301 $ 14.07 NA NA $ 27 60,556 $ 70 15,822 $ 27 Six months ended June 30, 2016 Number Weighted Intrinsic Number Net Cash Stock options 28,426 $ 12.07 $ 108 28,426 NA Employee stock SARs 38,569 $ 11.82 20 4,866 NA Employee cash SARs 20,123 $ 11.69 NA NA $ 32 87,118 128 33,292 32 At June 30, 2017, the Company had estimated unrecognized compensation expense of approximately $2,334 for unvested RSUs. This amount is based on a historical forfeiture rate of 13.00% for all RSUs granted to employees. The weighted-average period of time the unrecognized compensation expense will be recognized for the unvested RSUs was approximately 2.51 years as of June 30, 2017. |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | NOTE 10 – DERIVATIVE INSTRUMENTS The Bank maintains two interest rate swaps with commercial banking customers tied to loans on the consolidated balance sheet. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net rate risk exposure. As of June 30, 2017 and December 31, 2016, the Bank had non-hedge The Bank entered into a swap with a third party to serve as a hedge to an equal amount of fixed rate loans. As of June 30, 2017 and December 31, 2016, the Bank had one swap designated a hedging instrument with a notional amount of $1,474 and $1,492, respectively, hedging a 10-year The following tables present quantitative information pertaining to the commercial loan related interest rate swaps as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Hedge- Not-Hedge- Designated Hedge- Not-Hedge- Designated Notional amount $ 1,474 $ 8,419 $ 1,492 $ 8,540 Weighted average pay rate 5.71 % 4.85 % 5.71 % 4.85 % Weighted average receive rate 3.99 % 4.08 % 3.54 % 3.63 % Weighted average maturity in years 6.15 4.95 6.65 5.45 The following table presents the fair values of derivative instruments and their locations in the consolidated balance sheets as of June 30, 2017 and December 31, 2016: Asset Derivatives Liability Derivatives Derivative Balance sheet location June 30, December 31, June 30, December 31, Cash flow hedge - trust preferred Other assets or other payables $ — $ 91 $ — $ — Interest rate swap designated as hedging instrument Other assets or other payables 44 45 62 67 Interest rate swap not designated as hedging instrument Other assets or other payables 15 14 15 14 $ 59 $ 150 $ 77 $ 81 The following table presents the income statement impact of the derivative instruments for the three and six months ended June 30, 2017 and 2016: Derivative Income statement location Three months ended Six months ended 2017 2016 2017 2016 Interest rate swap designated as hedging instrument Other noninterest income $ 2 $ (3 ) $ 4 $ (4 ) $ 2 $ (3 ) $ 4 $ (4 ) |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 11 – FAIR VALUE The following disclosures about fair value of financial instruments are made in accordance with provisions of ASC 825 “Financial Instruments.” The use of different assumptions and estimation methods could have a significant effect on fair value amounts. Accordingly, the estimates of fair value herein are not necessarily indicative of the amounts that might be realized in a current market exchange. The following table presents the estimated fair values of the financial instruments at June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Financial assets: Cash and cash equivalents $ 75,553 $ 75,553 $ 67,113 $ 67,113 Securities available-for-sale 470,004 470,004 470,996 470,996 Loans, net of deferred fees 1,921,334 1,891,032 1,857,767 1,837,673 Accrued interest receivable 6,859 6,859 7,017 7,017 Federal Home Loan Bank stock 9,804 9,804 5,423 5,423 Bank-owned life insurance 35,614 35,614 35,165 35,165 Interest rate swaps 59 59 150 150 Financial liabilities: Deposits $ 2,105,301 $ 2,106,568 $ 2,148,103 $ 2,147,056 Federal Home Loan Bank borrowings 169,000 169,012 65,000 65,043 Subordinated debenture 34,143 34,143 34,096 32,140 Junior subordinated debentures 11,389 7,513 11,311 6,972 Accrued interest payable 131 131 176 176 Interest rate swaps 77 77 81 81 Cash and cash equivalents Securities available-for-sale Loans Federal Home Loan Bank stock Interest receivable and payable Bank-owned life insurance Interest rate swaps – . Deposits Federal Home Loan Bank borrowings Subordinated debentures Junior subordinated debentures Off-balance The Company also adheres to the FASB guidance with regards to ASC 820, “Fair Value Measures.” This guidance defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. The statement requires fair value measurement disclosure of all assets and liabilities that are carried at fair value on either a recurring or nonrecurring basis. The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as matrix or model pricing, when market quotes are not readily accessible or available. The valuation techniques used are based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active or model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 – Unobservable inputs are used to measure fair value to the extent that observable inputs are not available. The Company’s own data used to develop unobservable inputs is adjusted for market consideration when reasonably available. The following table presents information about the level in the fair value hierarchy for the Company’s assets and liabilities not measured and carried at fair value as of June 30, 2017 and December 31, 2016: Carrying Fair Value at June 30, 2017 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 75,553 $ 75,553 $ — $ — Loans, net of deferred fees 1,921,334 — — 1,891,032 Accrued interest receivable 6,859 6,859 — — Federal Home Loan Bank stock 9,804 9,804 — — Financial liabilities: Deposits $ 2,105,301 $ 1,945,728 $ 159,573 $ — Federal Home Loan Bank borrowings 169,000 — 169,012 — Subordinated debentures 34,143 — 34,143 — Junior subordinated debentures 11,389 — 7,513 — Accrued interest payable 131 131 — — Carrying Fair Value at December 31, 2016 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 67,113 $ 67,113 $ — $ — Loans 1,857,767 — — 1,837,673 Accrued interest receivable 7,017 7,017 — — Federal Home Loan Bank stock 5,423 5,423 — — Bank-owned life insurance 35,165 35,165 — — Financial liabilities: Deposits $ 2,148,103 $ 1,969,220 $ 177,836 $ — Federal Home Loan Bank borrowings 65,000 — 65,043 — Subordinated debentures 34,096 — 32,140 — Junior subordinated debentures 11,311 — 6,972 — Accrued interest payable 176 176 — — The tables below show assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016: Carrying Fair Value at June 30, 2017 Value Level 1 Level 2 Level 3 Financial Assets Available-for-sale Obligations of U.S. government agencies $ 25,693 $ — $ 25,693 $ — Obligations of states and political subdivisions 111,215 — 111,215 — Agency mortgage-backed securities 291,954 — 291,954 — Private-label mortgage-backed securities 1,659 — 392 1,267 SBA variable rate pools 39,483 — 39,483 — Interest rate swaps 59 59 — — Total assets measured on a recurring basis $ 470,063 $ 59 $ 468,737 $ 1,267 Financial Liabilities Interest rate swap liabilities measured on a recurring basis $ 77 $ 77 $ — $ — Carrying Fair Value at December 31, 2016 Value Level 1 Level 2 Level 3 Available-for-sale Obligations of U.S. government agencies $ 25,620 $ — $ 25,620 $ — Obligations of states and political subdivisions 110,739 — 110,739 — Agency mortgage-backed securities 290,036 — 290,036 — Private-label mortgage-backed securities 1,937 — 569 1,368 SBA variable rate pools 42,664 — 42,664 — Interest rate swaps 150 150 — — Total assets measured on a recurring basis $ 471,146 $ 150 $ 469,628 $ 1,368 Financial Liabilities Interest rate swap liabilities measured on a recurring basis $ 81 $ 81 $ — $ — No transfers to or from Levels 1 and 2 occurred on assets and liabilities measured at fair value on a recurring basis during the three or six months ended June 30, 2017 or during the year ended December 31, 2016. The following is a description of the inputs and valuation methodologies used for assets and liabilities recorded at fair value on a recurring basis. Fair value for all classes of available-for-sale The following table provides a reconciliation of private-label mortgage-backed securities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016: Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Beginning balance $ 1,315 $ 1,520 $ 1,368 $ 1,586 Transfers into level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses — — — Included in earnings — — (1 ) (17 ) Included in other comprehensive income 32 (31 ) 58 (18 ) Paydowns (80 ) (90 ) (158 ) (152 ) Purchases, issuances, sales and settlements Purchases — — — — Issuances — — — — Sales — — — — Settlements — — — — Ending balance $ 1,267 $ 1,399 $ 1,267 $ 1,399 Fair value for all classes of available-for-sale The Company utilizes FTN Financial as an independent third-party asset pricing service to estimate fair value on all of its available-for-sale two-sided • Obligations of U.S. government agencies • Obligations of states and political subdivisions • Private-label mortgage-backed securities • Mortgage-backed securities • SBA variable pools Inputs may be prioritized differently on any given day for any security and not all inputs listed are available for use in the evaluation process on any given day for each security evaluation. The valuation methodology used by asset type includes: • Obligations of U.S. government agencies • Obligations of states and political subdivisions • Private-label mortgage-backed securities • Mortgage-backed securities • SBA pools The third-party pricing service follows multiple review processes to assess the available market, credit and deal-level information to support its valuation estimates. If sufficient objectively verifiable information is not available to support a security’s valuation, an alternate independent evaluation source will be used. The Company’s securities portfolio was valued through its independent third-party pricing service using evaluated pricing models and quoted prices based on market data. For further assurance, the Company’s estimate of fair value was compared to an additional independent third-party estimate at June 30, 2016, and the Company obtained key inputs for a sample of securities across sectors and evaluated those inputs for reasonableness. This analysis was performed at the individual security level and no material variances were noted. Due to the pending merger with Columbia Bank and the anticipated timing of the closing, the independent analysis that would have normally been conducted as of June 30, 2017 was not completed. There have been no significant changes in the valuation techniques during the periods reported. The tables below show assets measured at fair value on a nonrecurring basis as of June 30, 2017 and December 31, 2016: Carrying Fair Value June 30, 2017 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserve) $ 298 $ — $ — $ 298 Carrying Fair Value December 31, 2016 Value Level 1 Level 2 Level 3 Other real estate owned $ 10,936 $ — $ — $ 10,936 The following is a description of the inputs and valuation methodologies used for assets recorded at fair value on a nonrecurring basis. Loans measured for impairment (net of government guarantees and specific reserves) include the estimated fair value of collateral-dependent loans, less collectible government guarantees, as well as certain noncollateral-dependent loans measured for impairment with an allocated specific reserve. When a collateral-dependent loan is identified as impaired, the value of the loan is measured using the current fair value of the collateral less selling costs. The fair value of collateral is generally estimated by obtaining external appraisals which are usually updated every 6 to 12 months based on the nature of the impaired loans. Certain noncollateral-dependent loans measured for impairment with an allocated specific reserve are valued based upon the estimated net realizable value of the loan. If the estimated fair value of the impaired loan, less collectible government guarantees, is less than the recorded investment in the loan, impairment is recognized as a charge-off Other real estate owned represents real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at the lower of the carrying amount of the loan or fair value less costs to sell, which becomes the property’s new basis. Any write downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, management periodically orders appraisals or performs valuations to ensure that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Appraisals are generally updated every 6 to 12 months on other real estate owned. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on other real estate owned for fair value adjustments based on the fair value of the real estate. There have been no significant changes in the valuation techniques during the periods reported. |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 12 – REGULATORY MATTERS The Company and the Bank are subject to the regulations of certain federal and state agencies and receive periodic examinations by those regulatory authorities. In addition, they are subject to various regulatory capital requirements administered by 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 consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of Total capital, Tier 1 capital, common equity Tier 1 to risk-weighted assets and Tier 1 capital to leverage assets. Management believes that, as of June 30, 2017, the Company and the Bank met all capital adequacy requirements to which they were subject. As of June 30, 2017, and according to Federal Reserve and FDIC guidelines, the Bank was considered to be well-capitalized. To be categorized as well-capitalized, the Bank must maintain minimum Total capital, Tier 1 capital, common equity Tier 1 to risk-weighted assets and Tier 1 capital to leverage assets ratios as set forth in the following table. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2017: Total capital (to risk weighted assets) Bank: $ 281,769 12.63 % $ 178,434 8.00 % $ 223,043 10.00 % Company: $ 287,244 12.88 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 257,870 11.56 % $ 133,826 6.00 % $ 178,434 8.00 % Company: $ 229,202 10.27 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 257,870 11.56 % $ 100,369 4.50 % $ 144,978 6.50 % Company: $ 215,966 9.68 % NA NA Tier 1 capital (to leverage assets) Bank: $ 257,870 10.17 % $ 101,377 4.00 % $ 111,521 5.00 % Company: $ 229,202 9.04 % NA NA As of December 31, 2016: Total capital (to risk weighted assets) Bank: $ 267,416 12.19 % $ 175,555 8.00 % $ 219,444 10.00 % Company: $ 278,444 12.69 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 244,414 11.14 % $ 131,666 6.00 % $ 175,555 8.00 % Company: $ 221,346 10.08 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 244,414 11.14 % $ 98,750 4.50 % $ 142,638 6.50 % Company: $ 208,873 9.52 % NA NA Tier 1 capital (to leverage assets) Bank: $ 244,414 9.96 % $ 98,181 4.00 % $ 122,726 5.00 % Company: $ 221,346 9.01 % NA NA |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying consolidated financial statements have been prepared by the Company without audit and in conformity with generally accepted accounting principles in the United States of America for interim financial information. The consolidated financial statements include all adjustments and normal accruals, which the Company considers necessary for a fair presentation of the results of operations for such interim periods. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, as of the date of the balance sheets and income and expenses for the periods. Material estimates particularly susceptible to material change include allowance for loan losses, goodwill and intangibles and other real estate owned are particularly susceptible to change, and actual results could differ from those estimates. The balance sheet data as of December 31, 2016, was derived from audited consolidated financial statements, but does not include all disclosures contained in the Company’s 2016 Form 10-K. 10-K. |
Loans | Loans are stated at the amount of unpaid principal net of loan premiums or discounts for purchased loans, net of deferred loan origination fees, discounts associated with retained portions of loans sold, and an allowance for loan losses. Interest on loans is calculated using the simple-interest method on daily balances of the principal amount outstanding. Loan origination fees, net of origination costs and discounts, are amortized over the lives of the loans as adjustments to yield. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses is established as an amount that management considers adequate to absorb possible losses on existing loans within the portfolio. The allowance consists of general, specific and unallocated components. The general component is based upon all loans collectively evaluated for impairment. The specific component is based upon all loans individually evaluated for impairment. The unallocated component represents credit losses inherent in the loan portfolio that may not have been contemplated in the general risk factors or the specific allowance analysis. Loans are charged against the allowance when management believes the collection of principal and interest is unlikely. The Company performs regular credit reviews of the loan portfolio to determine the credit quality and adherence to underwriting standards. When loans are originated, they are assigned a risk rating that is reassessed periodically during the term of the loan through the credit review process. The Company’s internal risk rating methodology assigns risk ratings ranging from one to ten, where a higher rating represents higher risk. The ten-point Estimated credit losses reflect consideration of all significant factors that affect the collectability of the loan portfolio. The historical loss rate for each group of loans with similar risk characteristics is determined based on the Company’s own loss experience in that group. Historical loss experience and recent trends in losses provide a reasonable starting point for analysis; however, they do not by themselves form a sufficient basis to determine the appropriate level for the allowance for loan losses. Qualitative or environmental factors that are likely to cause estimated credit losses to differ from historical losses are also considered, including but not limited to: • Changes in international, regional and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments, • Changes in the nature and volume of the portfolio and in the terms of loans, • Changes in the volume and severity of past due loans, the volume of nonaccrual loans and the volume and severity of adversely classified or graded loans, • Changes in the quality of the institution’s loan review system, • Changes in the value of underlying collateral for collateral-dependent loans, • The existence and effect of any concentrations of credit, and changes in the level of such concentrations, • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio, • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, • Changes in the current and future U.S. political environment, including debt ceiling negotiations, government shutdown and healthcare reform that may affect national, regional and local economic conditions, taxation, or disruption of national or global financial markets. The adequacy of the allowance for loan losses and the reserve for unfunded commitments is determined using a consistent, systematic methodology and is monitored regularly based on management’s evaluation of numerous factors. For each portfolio segment, these factors include: • The quality of the current loan portfolio, • The trend in the migration of the loan portfolio’s risk ratings, • The velocity of migration of losses and potential losses, • Current economic conditions, • Loan concentrations, • Loan growth rates, • Past-due • Evaluation of specific loss estimates for all significant problem loans, • Recovery experience, and • Peer comparison loss rates. |
Securities Available-for-Sale (
Securities Available-for-Sale (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Securities Available-for-Sale | The amortized cost and estimated fair values of securities available-for-sale Amortized Gross Gross Estimated Value Percentage Unrealized Loss Positions Private-label mortgage-backed securities $ 34 $ — $ — $ 34 0.01 % Mortgage-backed securities 231,625 — (4,263 ) 227,362 48.37 % SBA pools 21,506 — (337 ) 21,169 4.50 % Obligations of U.S. government agencies 3,996 — (26 ) 3,970 0.84 % Obligations of states and political subdivisions 29,814 — (576 ) 29,238 6.22 % $ 286,975 $ — $ (5,202 ) $ 281,773 59.95 % Unrealized Gain Positions Obligations of U.S. government agencies $ 21,279 $ 444 $ — $ 21,723 4.62 % Obligations of states and political subdivisions 79,385 2,592 — 81,977 17.44 % Private-label mortgage-backed securities 1,439 186 — 1,625 0.35 % Mortgage-backed securities 63,930 662 — 64,592 13.74 % SBA pools 18,116 198 — 18,314 3.90 % $ 184,149 $ 4,082 $ — $ 188,231 40.05 % $ 471,124 $ 4,082 $ (5,202 ) $ 470,004 100.00 % The amortized cost and estimated fair values of securities available-for-sale Amortized Gross Gross Estimated Percentage Unrealized Loss Positions Obligations of U.S. government agencies $ 3,995 $ — $ (49 ) $ 3,946 0.84 % Obligations of states and political subdivisions 41,016 — (1,279 ) 39,737 8.44 % Private-label mortgage-backed securities 241 — (23 ) 218 0.05 % Mortgage-backed securities 221,835 — (5,362 ) 216,473 45.96 % SBA pools 26,758 — (493 ) 26,265 5.58 % $ 293,845 $ — $ (7,206 ) $ 286,639 60.86 % Unrealized Gain Positions Obligations of U.S. government agencies $ 21,290 $ 384 $ — $ 21,674 4.60 % Obligations of states and political subdivisions 69,148 1,854 — 71,002 15.07 % Private-label mortgage-backed securities 1,566 153 — 1,719 0.36 % Mortgage-backed securities 72,752 811 — 73,563 15.62 % SBA pools 16,281 118 — 16,399 3.48 % $ 181,037 $ 3,320 $ — $ 184,357 39.14 % $ 474,882 $ 3,320 $ (7,206 ) $ 470,996 100.00 % |
Schedule of Investment Securities in Continuous Unrealized Loss Position | The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2017: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 3,970 $ (26 ) $ — $ — Obligations of states and political subdivisions 29,238 (576 ) — — Private-label mortgage-backed securities 34 — — — Mortgage-backed securities 222,179 (4,181 ) 5,183 (82 ) SBA pools 17,391 (304 ) 3,778 (33 ) $ 272,812 $ (5,087 ) $ 8,961 $ (115 ) The following table presents a summary of securities in a continuous unrealized loss position at December 31, 2016: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 3,946 $ (49 ) $ — $ — Obligations of states and political subdivisions 39,737 (1,279 ) — — Private-label mortgage-backed securities — — 218 (23 ) Mortgage-backed securities 211,721 (5,266 ) 4,752 (96 ) SBA pools 22,076 (458 ) 4,189 (35 ) $ 277,480 $ (7,052 ) $ 9,159 $ (154 ) |
Schedule of Roll-Forward Amount of Credit-Related OTTI | Following is a tabular roll-forward of the aggregate amount of credit-related OTTI at the beginning and end of the periods presented along with the amounts recognized in earnings during the three months and six months ended June 30, 2017, and 2016: Three months ended Six months ended 2017 2016 2017 2016 Balance, beginning of period: $ 271 $ 266 $ 270 $ 249 Additions: Initial OTTI credit loss — — 1 17 Balance, end of period: $ 271 $ 266 $ 271 $ 266 |
Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale | The amortized cost and estimated fair value of securities at June 30, 2017, by maturity, are shown below. Obligations of U.S. government agencies, states and political subdivisions and corporate securities are shown by contractual maturity. Mortgage-backed securities and SBA variable pools are shown by projected average life. June 30, 2017 Amortized Estimated Value Due in one year or less $ 17,733 $ 17,772 Due after one year through 5 years 245,506 245,531 Due after 5 years through 10 years 170,108 169,136 Due after 10 years 37,777 37,565 $ 471,124 $ 470,004 |
Schedule of Investment Securities Pledged to Secure Public Deposits and Repurchase Agreements | The following table presents investment securities which were pledged to secure public deposits and repurchase agreements as permitted or required by law: June 30, 2017 December 31, 2016 Amortized Estimated Amortized Estimated Pledged to secure public deposits $ 23,121 $ 23,764 $ 25,257 $ 25,683 Pledged to secure repurchase agreements 5,069 5,046 3,579 3,573 $ 28,190 $ 28,810 $ 28,836 $ 29,256 |
Loans, Allowance for Loan Los23
Loans, Allowance for Loan Losses, and Credit Quality Indicators (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Summary of Loan Classifications | Major classifications of period-end June 30, % of Gross December 31, % of Gross Real estate loans Multi-family residential $ 83,276 4.33 % $ 74,340 4.00 % Residential 1-4 60,026 3.12 % 61,548 3.31 % Owner-occupied commercial 467,902 24.33 % 461,557 24.82 % Nonowner-occupied commercial 465,584 24.21 % 451,893 24.30 % Total permanent real estate loans 1,076,788 55.99 % 1,049,338 56.43 % Construction loans Multi-family residential 31,351 1.63 % 22,252 1.20 % Residential 1-4 55,850 2.90 % 43,532 2.34 % Commercial real estate 87,489 4.55 % 76,301 4.10 % Commercial bare land and acquisition & development 9,510 0.49 % 15,081 0.81 % Residential bare land and acquisition & development 8,849 0.46 % 10,645 0.57 % Total construction real estate loans 193,049 10.03 % 167,811 9.02 % Total real estate loans 1,269,837 66.02 % 1,217,149 65.45 % Commercial loans 636,110 33.08 % 630,491 33.89 % Consumer loans 3,094 0.16 % 2,922 0.16 % Other loans 14,251 0.74 % 9,225 0.50 % Gross loans 1,923,292 100.00 % 1,859,787 100.00 % Deferred loan origination fees (1,958 ) (2,020 ) 1,921,334 1,857,767 Allowance for loan losses (23,451 ) (22,454 ) Total loans, net of allowance for loan losses and net deferred fees $ 1,897,883 $ 1,835,313 |
Summary of Contractually Required Principal Balance of Purchased Credit Impaired Loans and Carrying Value | The following table represents the contractually required principal balance of purchased credit impaired loans and the carrying balance at June 30, 2017 and December 31, 2016: June 30, December 31, Contractually required principal payments for purchased credit impaired loans $ 19,276 $ 22,941 Accretable yield (1,272 ) (1,453 ) Nonaccretable yield (599 ) (809 ) Balance of purchased credit impaired loans $ 17,405 $ 20,679 |
Summary of Changes in Accretable Yield for Purchased Credit Impaired Loans | The following tables summarize the changes in the accretable yield for purchased credit impaired loans for the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 2016 Capital Foundation Total Century Capital Total Balance, beginning of period $ 727 $ 632 $ 1,359 $ 11 $ 939 $ 950 Additions — 742 742 — — — Accretion to interest income (45 ) (50 ) (95 ) (11 ) (79 ) (90 ) Balance, end of period $ 682 $ 1,324 $ 2,006 $ — $ 860 $ 860 Six months ended June 30, 2017 2016 Capital Foundation Total Century Capital Total Balance, beginning of period $ 765 $ 688 $ 1,453 $ 39 $ 1,030 $ 1,069 Additions — 742 742 — — — Accretion to interest income (83 ) (106 ) (189 ) (39 ) (170 ) (209 ) Balance, end of period $ 682 $ 1,324 $ 2,006 $ — $ 860 $ 860 |
Summary of Allowance for Credit Losses Activity by Loan Segment | A summary of the activity in the allowance for loan losses by major loan classification follows: For the three months ended June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 7,717 $ 11,299 $ 2,051 $ 40 $ 1,505 $ 22,612 Charge-offs (1,688 ) — — (5 ) — (1,693 ) Recoveries 24 32 1 — — 57 Provision (reclassification) 2,640 368 90 6 (629 ) 2,475 Ending balance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 For the six months ended June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 8,614 $ 10,872 $ 1,781 $ 41 $ 1,146 $ 22,454 Charge-offs (2,328 ) (150 ) — (5 ) — (2,483 ) Recoveries 60 43 1 1 — 105 Provision (reclassification) 2,347 934 360 4 (270 ) 3,375 Ending balance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 At June 30, 2017, the allowance for loan losses on dental loans was $5,257, compared to $4,713 at December 31, 2016. See Note 4 for additional information on the dental loan portfolio. The following table presents the allowance and recorded investment in loans by major loan classification at June 30, 2017 and December 31, 2016: Balances as of June 30, 2017 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 8,225 $ 11,699 $ 2,142 $ 41 $ 876 $ 22,983 Ending allowance: individually evaluated for impairment 468 — — — — 468 Ending allowance: loans acquired with deteriorated credit quality — — — — — — Total ending allowance $ 8,693 $ 11,699 $ 2,142 $ 41 $ 876 $ 23,451 Ending loan balance: collectively evaluated for impairment $ 640,747 $ 1,056,003 $ 193,049 $ 3,094 $ — $ 1,892,893 Ending loan balance: individually evaluated for impairment 3,539 7,835 — — — 11,374 Ending loan balance: loans acquired with deteriorated credit quality 6,075 12,950 — — — 19,025 Total ending loan balance $ 650,361 $ 1,076,788 $ 193,049 $ 3,094 $ — $ 1,923,292 Balances as of December 31, 2016 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 7,881 $ 10,869 $ 1,781 $ 41 $ 1,146 $ 21,718 Ending allowance: individually evaluated for impairment 733 3 — — — 736 Ending allowance: loans acquired with deteriorated credit quality — — — — — — Total ending allowance $ 8,614 $ 10,872 $ 1,781 $ 41 $ 1,146 $ 22,454 Ending loan balance: collectively evaluated for impairment $ 628,773 $ 1,027,354 $ 167,491 $ 2,922 $ — $ 1,826,540 Ending loan balance: individually evaluated for impairment 4,396 7,852 320 — — 12,568 Ending loan balance: loans acquired with deteriorated credit quality 6,547 14,132 — — — 20,679 Total ending loan balance $ 639,716 $ 1,049,338 $ 167,811 $ 2,922 $ — $ 1,859,787 |
Credit Quality Indicators | The following tables present the Company’s loan portfolio information by loan type and credit grade at June 30, 2017 and December 31, 2016: Credit Quality Indicators As of June 30, 2017 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 83,276 $ — $ — $ — $ 83,276 Residential 1-4 58,856 — 1,170 — 60,026 Owner-occupied commercial 451,539 — 16,363 — 467,902 Nonowner-occupied commercial 459,160 — 6,424 — 465,584 Total real estate loans 1,052,831 — 23,957 — 1,076,788 Construction Multi-family residential 31,351 — — — 31,351 Residential 1-4 55,850 — — — 55,850 Commercial real estate 87,489 — — — 87,489 Commercial bare land and acquisition & development 9,510 — — — 9,510 Residential bare land and acquisition & development 8,298 — 551 — 8,849 Total construction loans 192,498 — 551 — 193,049 Commercial and other 636,047 — 13,179 1,135 650,361 Consumer 3,094 — — — 3,094 Totals $ 1,884,470 $ — $ 37,687 $ 1,135 $ 1,923,292 Percentage of portfolio 97.98 % 0.00 % 1.96 % 0.06 % 100.00 % Credit Quality Indicators As of December 31, 2016 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 74,340 $ — $ — $ — $ 74,340 Residential 1-4 58,286 — 3,262 — 61,548 Owner-occupied commercial 443,737 — 17,820 — 461,557 Nonowner-occupied commercial 445,283 — 6,610 — 451,893 Total real estate loans 1,021,646 — 27,692 — 1,049,338 Construction Multi-family residential 22,252 — — — 22,252 Residential 1-4 43,532 — — — 43,532 Commercial real estate 76,301 — — — 76,301 Commercial bare land and acquisition & development 15,081 — — — 15,081 Residential bare land and acquisition & development 9,852 — 793 — 10,645 Total construction loans 167,018 — 793 — 167,811 Commercial and other 621,165 — 16,890 1,661 639,716 Consumer 2,922 — — — 2,922 Totals $ 1,812,751 $ — $ 45,375 $ 1,661 $ 1,859,787 Percentage of portfolio 97.47 % 0.00 % 2.44 % 0.09 % 100.00 % |
Aged Analysis of Dental Loans Receivable | The following tables present an aging analysis of past due and nonaccrual loans at June 30, 2017 and December 31, 2016: Age Analysis of Loans Receivable As of June 30, 2017 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 83,276 $ 83,276 Residential 1-4 — 33 — 59 92 59,200 59,292 Owner-occupied commercial — — — 529 529 458,829 459,358 Nonowner-occupied commercial 1,298 — — 557 1,855 460,644 462,499 Total real estate loans 1,298 33 — 1,145 2,476 1,061,949 1,064,425 Construction Multi-family residential — — — — — 31,351 31,351 Residential 1-4 — — — — — 55,850 55,850 Commercial real estate — — — — — 87,489 87,489 Commercial bare land and acquisition & development — — — — — 9,510 9,510 Residential bare land and acquisition & development 118 — — — 118 8,731 8,849 Total construction loans 118 — — — 118 192,931 193,049 Commercial and other 147 — — 2,441 2,588 642,732 645,320 Consumer 1 — — — 1 3,092 3,093 Total $ 1,564 $ 33 $ — $ 3,586 $ 5,183 $ 1,900,704 $ 1,905,887 Age Analysis of Loans Receivable As of December 31, 2016 30-59 Past Due Still Accruing 60-89 Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 74,340 $ 74,340 Residential 1-4 — — — 158 158 59,241 59,399 Owner-occupied commercial — — — — — 452,748 452,748 Nonowner-occupied commercial — — — 601 601 448,118 448,719 Total real estate loans — — — 759 759 1,034,447 1,035,206 Construction Multi-family residential — — — — — 22,252 22,252 Residential 1-4 — — — — — 43,532 43,532 Commercial real estate — — — — — 76,301 76,301 Commercial bare land and acquisition & development — — — — — 15,081 15,081 Residential bare land and acquisition & development — — — — — 10,645 10,645 Total construction loans — — — — — 167,811 167,811 Commercial and other 363 366 — 2,794 3,523 629,646 633,169 Consumer — — — — — 2,922 2,922 Total $ 363 $ 366 $ — $ 3,553 $ 4,282 $ 1,834,826 $ 1,839,108 |
Analysis of Impaired Loans | The following tables display an analysis of the Company’s impaired loans at June 30, 2017, and December 31, 2016: Impaired Loan Analysis As of June 30, 2017 Recorded Recorded Total Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 296 296 296 346 — Owner-occupied commercial 4,631 846 5,477 5,477 5,306 — Nonowner-occupied commercial 2,062 2,062 2,123 2,071 — Total real estate loans 6,989 846 7,835 7,896 7,723 — Construction Multi-family residential — — — — — — Residential 1-4 — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — — — — — — Total construction loans — — — — — — Commercial and other 2,919 620 3,539 5,532 3,105 468 Consumer — — — — — Total impaired loans $ 9,908 $ 1,466 $ 11,374 $ 13,428 $ 10,828 $ 468 Impaired Loan Analysis As of December 31, 2016 Recorded Recorded Total Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 454 300 754 775 644 1 Owner-occupied commercial 4,106 865 4,971 4,971 1,804 2 Nonowner-occupied commercial 2,127 — 2,127 2,189 2,228 — Total real estate loans 6,687 1,165 7,852 7,935 4,676 3 Construction Multi-family residential — — — — — — Residential 1-4 — — — — 37 — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development 320 — 320 320 1,556 — Total construction loans 320 — 320 320 1,593 — Commercial and other 2,255 2,141 4,396 4,767 3,518 733 Consumer — — — — — — Total impaired loans $ 9,262 $ 3,306 $ 12,568 $ 13,022 $ 9,787 $ 736 |
Schedule of Troubled Debt Restructurings by Class | The following table displays the Company’s TDRs by class at June 30, 2017 and December 31, 2016: Troubled Debt Restructurings as of June 30, 2017 December 31, 2016 Number of Contracts Post-Modification Outstanding Recorded Investment Number of Contracts Post-Modification Outstanding Recorded Investment Real estate Multifamily residential — $ — — $ — Residential 1-4 2 296 4 754 Owner-occupied commercial 4 5,225 4 5,447 Non owner-occupied commercial 6 2,062 6 2,127 Total real estate loans 12 7,583 14 8,328 Construction Multifamily residential — — — — Residential 1-4 — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other 15 2,228 16 2,901 Consumer — — — — Total 27 $ 9,811 30 $ 11,229 |
Schedule of Restructured Loans | Below is a table of the newly restructured loans identified in the six months ended June 30, 2017 and 2016. Troubled Debt Restructurings Identified During the six months ended June 30, 2017 Rate Term Interest-only Combination Real estate Multi-family residential $ — $ — $ — $ — Residential 1-4 — — — 50 Owner-occupied commercial — — — — Nonowner-occupied commercial — — — — Total real estate loans — — — 50 Construction Multi-family residential — — — — Residential 1-4 — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other — — — — Consumer — — — — Total $ — $ — $ — $ 50 |
Dental Loan [Member] | |
Credit Quality Indicators | The following tables present the Company’s dental loan portfolio by market and credit grade at June 30, 2017 and December 31, 2016: As of June 30, 2017 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 149,705 $ — $ 1,357 $ — $ 151,062 National 234,530 — 1,766 — 236,296 Total $ 384,235 $ — $ 3,123 $ — $ 387,358 As of December 31, 2016 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 148,805 $ — $ 1,463 $ — $ 150,268 National 224,493 — 1,056 1,661 227,210 Total $ 373,298 $ — $ 2,519 $ 1,661 $ 377,478 |
Aged Analysis of Dental Loans Receivable | The following tables present an aged analysis of the dental loan portfolio by market, including nonaccrual loans, as of June 30, 2017 and December 31, 2016: As of June 30, 2017 30-59 Days 60-89 Days Greater Still Accruing Nonaccrual Total Past Total Total Loans Local $ — $ — $ — $ 379 $ 378 $ 150,684 $ 151,062 National — — — 828 828 235,468 236,296 Total $ — $ — $ — $ 1,207 $ 1,206 $ 386,152 $ 387,358 As of December 31, 2016 30-59 60-89 Greater Than 90 Days Nonaccrual Total Past Total Total Loans Local $ — $ — $ — $ 407 $ 407 $ 149,861 $ 150,268 National 263 366 — 1,660 2,289 224,921 227,210 Total $ 263 $ 366 $ — $ 2,067 $ 2,696 $ 374,782 $ 377,478 |
Dental Loan Portfolio (Tables)
Dental Loan Portfolio (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Major Classifications of Dental Loans | Major classifications of dental loans at June 30, 2017 and December 31, 2016, were as follows: June 30, 2017 December 31, 2016 Real estate secured loans: Owner-occupied commercial $ 61,383 $ 63,793 Other dental real estate loans 423 806 Total permanent real estate loans 61,806 64,599 Dental construction loans 7,351 4,109 Total real estate loans 69,157 68,708 Commercial loans 318,201 308,770 Gross loans $ 387,358 $ 377,478 |
Dental Loan Total by Market | The following table summarizes the Company’s dental lending by borrower location: June 30, 2017 December 31, 2016 Local $ 151,062 $ 150,268 National 236,296 227,210 Total $ 387,358 $ 377,478 |
Dental Portfolio Allowance Activity | The specific component is based upon dental loans individually evaluated for impairment. Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Balance, beginning of period $ 4,174 $ 3,884 $ 4,713 $ 4,022 Provision 2,711 253 2,804 103 Charge-offs (1,635 ) — (2,275 ) — Recoveries 7 14 15 26 Balance, end of period $ 5,257 $ 4,151 $ 5,257 $ 4,151 |
Securities Sold Under Agreeme25
Securities Sold Under Agreement to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Schedule of Information Regarding Securities Sold Under Agreements Repurchase | The following table presents information regarding securities sold under agreements to repurchase at June 30, 2017 and December 31, 2016: June 30, December 31, 2017 2016 Balance at end of period $ 2,146 $ 1,966 Average balance outstanding for the period 2,283 702 Maximum amount outstanding at any month end during the period 3,100 2,017 Weighted average interest rate for the period 0.08 % 0.06 % Weighted average interest rate at period end 0.08 % 0.08 % |
Federal Home Loan Bank Borrow26
Federal Home Loan Bank Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Summary of Outstanding Federal Home Loan Bank Borrowings by Maturity | Below is a summary of outstanding FHLB borrowings by maturity. Current June 30, Cash management advance NA $ 164,000 2017 — — 2018 1.55 % 3,000 2019 — — 2020 — — 2021 — — Thereafter 3.85 % 2,000 $ 169,000 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Shares and Aggregate Grant-Date Fair Market Values | The following table summarizes the shares and the aggregate grant-date fair value of the equity-based awards granted: Six months ended June 30, June 30, 2017 2016 Shares Grant Date Shares Grant Date Equity-based awards: Director restricted stock - no restrictions — $ — 14,400 $ 240 Employee RSUs - 4 year vesting 1,192 30 130,151 2,161 Employee RSUs - vest immediately — — 300 5 Employee RSUs - 2 year vesting 1,965 49 — — $ 3,157 $ 79 $ 144,851 $ 2,406 |
Summary of Stock Options, Employee Stock SARs, and Employee Cash SARs Exercised | The following table identifies the compensation expense recorded and tax benefits received by the Company on its share-based compensation plans for the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 2016 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ — $ — $ 240 $ 91 Employee RSUs 349 133 406 154 Liability-based awards: Employee cash SARs — — — — $ 349 $ 133 $ 646 $ 245 Six months ended June 30, 2017 2016 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ — $ — $ 240 $ 91 Employee RSUs 727 276 790 300 Liability-based awards: Employee cash SARs 150 — — — $ 877 $ 276 $ 1,030 $ 391 |
Summary of RSU Activity | The following table provides a summary of the Company’s RSU activity, including the weighted average grant date fair value per share for the six months ended June 30, 2017: Six months ended June 30, 2017 Non-Vested Weighted Average Balance, beginning of period 300,840 $ 14.30 Granted 1,985 25.15 Vested shares issued (70,649 ) 13.51 Vested shares surrendered for taxes (43,920 ) 13.51 Forfeited or expired (7,636 ) 15.40 Balance, end of period 180,620 14.88 |
Schedule of Compensation Expense and Tax Benefits | The following table identifies stock options, employee stock settled SARs, and employee cash settled SARs exercised during the three and six months ended June 30, 2017 and 2016: Three months ended June 30, 2017 Number Weighted Intrinsic Number Net Cash Stock options 56,776 $ 12.65 $ 734 33,336 NA Employee stock SARs 8,014 $ 12.44 47 2,464 NA Employee cash SARs 809 $ 14.44 NA NA $ 26 65,599 $ 781 35,800 $ 26 Six months ended June 30, 2017 Number Weighted Intrinsic Number Net Cash Stock options 137,307 $ 14.90 $ 1,396 79,601 NA Employee stock SARs 46,721 $ 15.85 111 10,590 NA Employee cash SARs 28,150 $ 16.47 NA NA $ 169 212,178 $ 1,507 90,191 $ 169 Three months ended June 30, 2016 Number Weighted Intrinsic Number Net Cash Stock options 11,951 $ 12.07 $ 54 11,951 NA Employee stock SARs 32,304 $ 13.41 16 3,871 NA Employee cash SARs 16,301 $ 14.07 NA NA $ 27 60,556 $ 70 15,822 $ 27 Six months ended June 30, 2016 Number Weighted Intrinsic Number Net Cash Stock options 28,426 $ 12.07 $ 108 28,426 NA Employee stock SARs 38,569 $ 11.82 20 4,866 NA Employee cash SARs 20,123 $ 11.69 NA NA $ 32 87,118 128 33,292 32 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Quantitative Information Pertaining to Interest Rate Swaps | The following tables present quantitative information pertaining to the commercial loan related interest rate swaps as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Hedge- Not-Hedge- Designated Hedge- Not-Hedge- Designated Notional amount $ 1,474 $ 8,419 $ 1,492 $ 8,540 Weighted average pay rate 5.71 % 4.85 % 5.71 % 4.85 % Weighted average receive rate 3.99 % 4.08 % 3.54 % 3.63 % Weighted average maturity in years 6.15 4.95 6.65 5.45 |
Summary of Interest Rate Swaps | The following table presents the fair values of derivative instruments and their locations in the consolidated balance sheets as of June 30, 2017 and December 31, 2016: Asset Derivatives Liability Derivatives Derivative Balance sheet location June 30, December 31, June 30, December 31, Cash flow hedge - trust preferred Other assets or other payables $ — $ 91 $ — $ — Interest rate swap designated as hedging instrument Other assets or other payables 44 45 62 67 Interest rate swap not designated as hedging instrument Other assets or other payables 15 14 15 14 $ 59 $ 150 $ 77 $ 81 The following table presents the income statement impact of the derivative instruments for the three and six months ended June 30, 2017 and 2016: Derivative Income statement location Three months ended Six months ended 2017 2016 2017 2016 Interest rate swap designated as hedging instrument Other noninterest income $ 2 $ (3 ) $ 4 $ (4 ) $ 2 $ (3 ) $ 4 $ (4 ) |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents the estimated fair values of the financial instruments at June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Financial assets: Cash and cash equivalents $ 75,553 $ 75,553 $ 67,113 $ 67,113 Securities available-for-sale 470,004 470,004 470,996 470,996 Loans, net of deferred fees 1,921,334 1,891,032 1,857,767 1,837,673 Accrued interest receivable 6,859 6,859 7,017 7,017 Federal Home Loan Bank stock 9,804 9,804 5,423 5,423 Bank-owned life insurance 35,614 35,614 35,165 35,165 Interest rate swaps 59 59 150 150 Financial liabilities: Deposits $ 2,105,301 $ 2,106,568 $ 2,148,103 $ 2,147,056 Federal Home Loan Bank borrowings 169,000 169,012 65,000 65,043 Subordinated debenture 34,143 34,143 34,096 32,140 Junior subordinated debentures 11,389 7,513 11,311 6,972 Accrued interest payable 131 131 176 176 Interest rate swaps 77 77 81 81 |
Fair Value Hierarchy for Assets and Liabilities Not Measured at Fair Value | The following table presents information about the level in the fair value hierarchy for the Company’s assets and liabilities not measured and carried at fair value as of June 30, 2017 and December 31, 2016: Carrying Fair Value at June 30, 2017 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 75,553 $ 75,553 $ — $ — Loans, net of deferred fees 1,921,334 — — 1,891,032 Accrued interest receivable 6,859 6,859 — — Federal Home Loan Bank stock 9,804 9,804 — — Financial liabilities: Deposits $ 2,105,301 $ 1,945,728 $ 159,573 $ — Federal Home Loan Bank borrowings 169,000 — 169,012 — Subordinated debentures 34,143 — 34,143 — Junior subordinated debentures 11,389 — 7,513 — Accrued interest payable 131 131 — — Carrying Fair Value at December 31, 2016 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 67,113 $ 67,113 $ — $ — Loans 1,857,767 — — 1,837,673 Accrued interest receivable 7,017 7,017 — — Federal Home Loan Bank stock 5,423 5,423 — — Bank-owned life insurance 35,165 35,165 — — Financial liabilities: Deposits $ 2,148,103 $ 1,969,220 $ 177,836 $ — Federal Home Loan Bank borrowings 65,000 — 65,043 — Subordinated debentures 34,096 — 32,140 — Junior subordinated debentures 11,311 — 6,972 — Accrued interest payable 176 176 — — |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The tables below show assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016: Carrying Fair Value at June 30, 2017 Value Level 1 Level 2 Level 3 Financial Assets Available-for-sale Obligations of U.S. government agencies $ 25,693 $ — $ 25,693 $ — Obligations of states and political subdivisions 111,215 — 111,215 — Agency mortgage-backed securities 291,954 — 291,954 — Private-label mortgage-backed securities 1,659 — 392 1,267 SBA variable rate pools 39,483 — 39,483 — Interest rate swaps 59 59 — — Total assets measured on a recurring basis $ 470,063 $ 59 $ 468,737 $ 1,267 Financial Liabilities Interest rate swap liabilities measured on a recurring basis $ 77 $ 77 $ — $ — Carrying Fair Value at December 31, 2016 Value Level 1 Level 2 Level 3 Available-for-sale Obligations of U.S. government agencies $ 25,620 $ — $ 25,620 $ — Obligations of states and political subdivisions 110,739 — 110,739 — Agency mortgage-backed securities 290,036 — 290,036 — Private-label mortgage-backed securities 1,937 — 569 1,368 SBA variable rate pools 42,664 — 42,664 — Interest rate swaps 150 150 — — Total assets measured on a recurring basis $ 471,146 $ 150 $ 469,628 $ 1,368 Financial Liabilities Interest rate swap liabilities measured on a recurring basis $ 81 $ 81 $ — $ — |
Reconciliation of Private-Label Mortgage-Backed Securities Measured at Fair Value on Recurring Basis | The following table provides a reconciliation of private-label mortgage-backed securities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016: Three months ended Six months ended June 30, June 30, 2017 2016 2017 2016 Beginning balance $ 1,315 $ 1,520 $ 1,368 $ 1,586 Transfers into level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses — — — Included in earnings — — (1 ) (17 ) Included in other comprehensive income 32 (31 ) 58 (18 ) Paydowns (80 ) (90 ) (158 ) (152 ) Purchases, issuances, sales and settlements Purchases — — — — Issuances — — — — Sales — — — — Settlements — — — — Ending balance $ 1,267 $ 1,399 $ 1,267 $ 1,399 |
Assets Measured at Fair Value on Nonrecurring Basis | The tables below show assets measured at fair value on a nonrecurring basis as of June 30, 2017 and December 31, 2016: Carrying Fair Value June 30, 2017 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserve) $ 298 $ — $ — $ 298 Carrying Fair Value December 31, 2016 Value Level 1 Level 2 Level 3 Other real estate owned $ 10,936 $ — $ — $ 10,936 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements | To be categorized as well-capitalized, the Bank must maintain minimum Total capital, Tier 1 capital, common equity Tier 1 to risk-weighted assets and Tier 1 capital to leverage assets ratios as set forth in the following table. Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2017: Total capital (to risk weighted assets) Bank: $ 281,769 12.63 % $ 178,434 8.00 % $ 223,043 10.00 % Company: $ 287,244 12.88 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 257,870 11.56 % $ 133,826 6.00 % $ 178,434 8.00 % Company: $ 229,202 10.27 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 257,870 11.56 % $ 100,369 4.50 % $ 144,978 6.50 % Company: $ 215,966 9.68 % NA NA Tier 1 capital (to leverage assets) Bank: $ 257,870 10.17 % $ 101,377 4.00 % $ 111,521 5.00 % Company: $ 229,202 9.04 % NA NA As of December 31, 2016: Total capital (to risk weighted assets) Bank: $ 267,416 12.19 % $ 175,555 8.00 % $ 219,444 10.00 % Company: $ 278,444 12.69 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 244,414 11.14 % $ 131,666 6.00 % $ 175,555 8.00 % Company: $ 221,346 10.08 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 244,414 11.14 % $ 98,750 4.50 % $ 142,638 6.50 % Company: $ 208,873 9.52 % NA NA Tier 1 capital (to leverage assets) Bank: $ 244,414 9.96 % $ 98,181 4.00 % $ 122,726 5.00 % Company: $ 221,346 9.01 % NA NA |
Securities Available-for-Sale -
Securities Available-for-Sale - Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 471,124 | $ 474,882 |
Gross Unrealized Gains | 4,082 | 3,320 |
Gross Unrealized Losses | (5,202) | (7,206) |
Estimated Fair Value | $ 470,004 | $ 470,996 |
Percentage of Portfolio | 100.00% | 100.00% |
Unrealized Loss Positions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 286,975 | $ 293,845 |
Gross Unrealized Losses | (5,202) | (7,206) |
Estimated Fair Value | $ 281,773 | $ 286,639 |
Percentage of Portfolio | 59.95% | 60.86% |
Unrealized Loss Positions [Member] | Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 3,996 | $ 3,995 |
Gross Unrealized Losses | (26) | (49) |
Estimated Fair Value | $ 3,970 | $ 3,946 |
Percentage of Portfolio | 0.84% | 0.84% |
Unrealized Loss Positions [Member] | Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 29,814 | $ 41,016 |
Gross Unrealized Losses | (576) | (1,279) |
Estimated Fair Value | $ 29,238 | $ 39,737 |
Percentage of Portfolio | 6.22% | 8.44% |
Unrealized Loss Positions [Member] | Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 34 | $ 241 |
Gross Unrealized Losses | (23) | |
Estimated Fair Value | $ 34 | $ 218 |
Percentage of Portfolio | 0.01% | 0.05% |
Unrealized Loss Positions [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 231,625 | $ 221,835 |
Gross Unrealized Losses | (4,263) | (5,362) |
Estimated Fair Value | $ 227,362 | $ 216,473 |
Percentage of Portfolio | 48.37% | 45.96% |
Unrealized Loss Positions [Member] | SBA Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 21,506 | $ 26,758 |
Gross Unrealized Losses | (337) | (493) |
Estimated Fair Value | $ 21,169 | $ 26,265 |
Percentage of Portfolio | 4.50% | 5.58% |
Unrealized Gain Positions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 184,149 | $ 181,037 |
Gross Unrealized Gains | 4,082 | 3,320 |
Estimated Fair Value | $ 188,231 | $ 184,357 |
Percentage of Portfolio | 40.05% | 39.14% |
Unrealized Gain Positions [Member] | Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 21,279 | $ 21,290 |
Gross Unrealized Gains | 444 | 384 |
Estimated Fair Value | $ 21,723 | $ 21,674 |
Percentage of Portfolio | 4.62% | 4.60% |
Unrealized Gain Positions [Member] | Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 79,385 | $ 69,148 |
Gross Unrealized Gains | 2,592 | 1,854 |
Estimated Fair Value | $ 81,977 | $ 71,002 |
Percentage of Portfolio | 17.44% | 15.07% |
Unrealized Gain Positions [Member] | Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 1,439 | $ 1,566 |
Gross Unrealized Gains | 186 | 153 |
Estimated Fair Value | $ 1,625 | $ 1,719 |
Percentage of Portfolio | 0.35% | 0.36% |
Unrealized Gain Positions [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 63,930 | $ 72,752 |
Gross Unrealized Gains | 662 | 811 |
Estimated Fair Value | $ 64,592 | $ 73,563 |
Percentage of Portfolio | 13.74% | 15.62% |
Unrealized Gain Positions [Member] | SBA Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 18,116 | $ 16,281 |
Gross Unrealized Gains | 198 | 118 |
Estimated Fair Value | $ 18,314 | $ 16,399 |
Percentage of Portfolio | 3.90% | 3.48% |
Securities Available- for-Sale
Securities Available- for-Sale - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($)Securities | Jun. 30, 2016USD ($)Securities | Jun. 30, 2017USD ($)Securities | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($)Securities | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Investment securities in unrealized loss positions, number of positions | Securities | 474 | 474 | 485 | ||
Available for sale securities number of securities | Securities | 170 | 170 | 179 | ||
Additional other-than-temporary impairment | $ 0 | $ 0 | $ 1,000 | $ 17,000 | |
Aggregate amortized Cost | $ 471,124,000 | 471,124,000 | $ 474,882,000 | ||
Projected average life of securities portfolio | 4 years 6 months 21 days | 4 years 11 months 8 days | |||
Number of investment securities sold | Securities | 0 | 22 | |||
Proceeds from sale of investment securities | $ 35,781,000 | ||||
Gross gain from investment securities sold | 315,000 | ||||
Gross loss from investment securities sold | 244,000 | ||||
Net gain from investment securities sold | $ 71,000 | ||||
Balance of repurchase agreement | $ 2,146,000 | 2,146,000 | $ 1,966,000 | ||
Substandard [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Aggregate amortized Cost | $ 1,147,000 | $ 1,147,000 | $ 1,338,000 | ||
Private-Label Mortgage-Backed Securities [Member] | Substandard [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of private-label mortgage-backed securities | Securities | 9 | 9 | 9 |
Securities Available-for-Sale33
Securities Available-for-Sale - Schedule of Investment Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | $ 272,812 | |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (5,087) | |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 8,961 | |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | (115) | |
Unrealized Loss Positions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | $ 277,480 | |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (7,052) | |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 9,159 | |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | (154) | |
Unrealized Loss Positions [Member] | Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | 3,970 | 3,946 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (26) | (49) |
Unrealized Loss Positions [Member] | Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | 29,238 | 39,737 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (576) | (1,279) |
Unrealized Loss Positions [Member] | Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | 34 | |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 218 | |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | (23) | |
Unrealized Loss Positions [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | 222,179 | 211,721 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (4,181) | (5,266) |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 5,183 | 4,752 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | (82) | (96) |
Unrealized Loss Positions [Member] | SBA Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in Continuous Unrealized Loss Positions for Less Than 12 Months | 17,391 | 22,076 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | (304) | (458) |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 3,778 | 4,189 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | $ (33) | $ (35) |
Securities Available-for-Sale34
Securities Available-for-Sale - Schedule of Roll-Forward Amount of Credit-Related OTTI (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Balance, beginning of period: | $ 271,000 | $ 266,000 | $ 270,000 | $ 249,000 |
Initial OTTI credit loss | 0 | 0 | 1,000 | 17,000 |
Balance, end of period: | $ 271,000 | $ 266,000 | $ 271,000 | $ 266,000 |
Securities Available-for-Sale35
Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 17,733 | |
Due after one year through 5 years, Amortized Cost | 245,506 | |
Due after 5 years through 10 years, Amortized Cost | 170,108 | |
Due after 10 years, Amortized Cost | 37,777 | |
Amortized Cost | 471,124 | $ 474,882 |
Due in one year or less, Estimated Fair Value | 17,772 | |
Due after one year through 5 years, Estimated Fair Value | 245,531 | |
Due after 5 years through 10 years, Estimated Fair Value | 169,136 | |
Due after 10 years, Estimated Fair Value | 37,565 | |
Estimated Fair Value | $ 470,004 | $ 470,996 |
Securities Available-for-Sale36
Securities Available-for-Sale - Schedule of Investment Securities Pledged to Secure Public Deposits and Repurchase Agreements (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 471,124 | $ 474,882 |
Collateral Pledged [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 28,190 | 28,836 |
Estimated Fair Value | 28,810 | 29,256 |
Collateral Pledged [Member] | Securities Pledged as Collateral [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 23,121 | 25,257 |
Estimated Fair Value | 23,764 | 25,683 |
Collateral Pledged [Member] | Repurchase Accounts [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,069 | 3,579 |
Estimated Fair Value | $ 5,046 | $ 3,573 |
Loans, Allowance for Loan Los37
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Loan Classifications (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 1,923,292 | $ 1,859,787 |
Deferred loan origination fees | (1,958) | (2,020) |
Gross loans, net of deferred income | 1,921,334 | 1,857,767 |
Allowance for loan losses | (23,451) | (22,454) |
Total loans, net of allowance for loan losses and net deferred fees | $ 1,897,883 | $ 1,835,313 |
Percentage of gross loans | 100.00% | 100.00% |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 636,110 | $ 630,491 |
Percentage of gross loans | 33.08% | 33.89% |
Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 14,251 | $ 9,225 |
Percentage of gross loans | 0.74% | 0.50% |
Real Estate Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 1,076,788 | $ 1,049,338 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | 83,276 | 74,340 |
Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | 60,026 | 61,548 |
Real Estate Loans [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | 467,902 | 461,557 |
Real Estate Loans [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | 465,584 | 451,893 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | 3,094 | 2,922 |
Allowance for loan losses | $ (41) | $ (41) |
Percentage of gross loans | 0.16% | 0.16% |
Real Estate Secured Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 1,269,837 | $ 1,217,149 |
Percentage of gross loans | 66.02% | 65.45% |
Real Estate Secured Loans [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 1,076,788 | $ 1,049,338 |
Percentage of gross loans | 55.99% | 56.43% |
Real Estate Secured Loans [Member] | Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 83,276 | $ 74,340 |
Percentage of gross loans | 4.33% | 4.00% |
Real Estate Secured Loans [Member] | Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 60,026 | $ 61,548 |
Percentage of gross loans | 3.12% | 3.31% |
Real Estate Secured Loans [Member] | Real Estate Loans [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 467,902 | $ 461,557 |
Percentage of gross loans | 24.33% | 24.82% |
Real Estate Secured Loans [Member] | Real Estate Loans [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 465,584 | $ 451,893 |
Percentage of gross loans | 24.21% | 24.30% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 193,049 | $ 167,811 |
Percentage of gross loans | 10.03% | 9.02% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 31,351 | $ 22,252 |
Percentage of gross loans | 1.63% | 1.20% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 55,850 | $ 43,532 |
Percentage of gross loans | 2.90% | 2.34% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 87,489 | $ 76,301 |
Percentage of gross loans | 4.55% | 4.10% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | Commercial Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 9,510 | $ 15,081 |
Percentage of gross loans | 0.49% | 0.81% |
Real Estate Secured Loans [Member] | Construction Loans [Member] | Residential Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Gross loans | $ 8,849 | $ 10,645 |
Percentage of gross loans | 0.46% | 0.57% |
Loans, Allowance for Loan Los38
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Additional Information (Detail) | Dec. 31, 2016USD ($) | Jun. 30, 2017USD ($)RiskRating | Jun. 30, 2017USD ($)RiskRatingContract | Jun. 30, 2016USD ($)Contract | Dec. 31, 2016USD ($)Contract | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Guarantor Obligations [Line Items] | ||||||||
Outstanding loans to dental professionals | $ 1,835,313,000 | $ 1,897,883,000 | $ 1,897,883,000 | $ 1,835,313,000 | ||||
Percentage of total outstanding loans to dental dental professionals | 20.14% | 20.30% | ||||||
Percentage of total loan portfolio | 10.00% | |||||||
Percentage of loan portfolio collateralized by real estate | 66.02% | |||||||
Allowance for loan losses | 22,454,000 | 23,451,000 | $ 23,451,000 | $ 22,454,000 | $ 22,612,000 | |||
Valuation allowance for impaired loans | 736,000 | 468,000 | 468,000 | 736,000 | ||||
Recorded investment in impaired loans, net of government guarantees | 10,567,000 | 9,231,000 | 9,231,000 | 10,567,000 | ||||
Loan unfunded commitments on classified loans | 1,026,000 | 219,000 | 219,000 | 1,026,000 | ||||
Interest income recognized in the period | 0 | |||||||
Government guarantees | 2,001,000 | 2,143,000 | $ 2,143,000 | $ 2,001,000 | ||||
Identified TDRs newly considered for impairment | Contract | 1 | |||||||
Troubled debt restructuring identified during the period | Contract | 27 | 30 | ||||||
TDRs that subsequently defaulted within the first twelve months of restructure | Contract | 0 | 0 | ||||||
Commitments to lend additional funds on loans restructured as TDRs | 0 | 0 | $ 0 | $ 0 | ||||
Troubled Debt Restructurings [Member] | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Recorded investment in nonaccrual status | 2,250,000 | $ 1,710,000 | 1,710,000 | 2,250,000 | ||||
Troubled debt restructuring identified during the period | 0 | |||||||
Allowance for Loan Losses [Member] | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Valuation allowance for impaired loans | 12,568,000 | $ 11,374,000 | 11,374,000 | 12,568,000 | ||||
Dental Loan [Member] | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Outstanding loans to dental professionals | $ 377,478,000 | 387,358,000 | $ 387,358,000 | 377,478,000 | ||||
Percentage of total outstanding loans to dental dental professionals | 20.30% | 20.14% | ||||||
Allowance for loan losses | $ 4,713,000 | $ 5,257,000 | $ 5,257,000 | $ 4,151,000 | $ 4,713,000 | $ 4,174,000 | $ 3,884,000 | $ 4,022,000 |
Minimum [Member] | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Internal risk rating | RiskRating | 1 | 1 | ||||||
Maximum [Member] | ||||||||
Guarantor Obligations [Line Items] | ||||||||
Internal risk rating | RiskRating | 10 | 10 |
Loans, Allowance for Loan Los39
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Contractually Required Principal Balance of Purchased Credit Impaired Loans and Carrying Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Contractually required principal payments for purchased credit impaired loans | $ 19,276 | $ 22,941 |
Accretable yield | (1,272) | (1,453) |
Nonaccretable yield | (599) | (809) |
Balance of purchased credit impaired loans | $ 17,405 | $ 20,679 |
Loans, Allowance for Loan Los40
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Changes in Accretable Yield for Purchased Credit Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Impaired Loans By Type [Line Items] | ||||
Balance, beginning of period | $ 1,359 | $ 950 | $ 1,453 | $ 1,069 |
Additions | 742 | 742 | ||
Accretion to interest income | (95) | (90) | (189) | (209) |
Balance, end of period | 2,006 | 860 | 2,006 | 860 |
Century [Member] | ||||
Impaired Loans By Type [Line Items] | ||||
Balance, beginning of period | 11 | 39 | ||
Accretion to interest income | (11) | (39) | ||
Capital Pacific Bank [Member] | ||||
Impaired Loans By Type [Line Items] | ||||
Balance, beginning of period | 727 | 939 | 765 | 1,030 |
Accretion to interest income | (45) | (79) | (83) | (170) |
Balance, end of period | 682 | $ 860 | 682 | $ 860 |
Foundation Bancorp Inc [Member] | ||||
Impaired Loans By Type [Line Items] | ||||
Balance, beginning of period | 632 | 688 | ||
Additions | 742 | 742 | ||
Accretion to interest income | (50) | (106) | ||
Balance, end of period | $ 1,324 | $ 1,324 |
Loans, Allowance for Loan Los41
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Allowance for Credit Losses Activity by Loan Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | $ 22,612 | $ 22,454 | |||
Charge-offs | (1,693) | (2,483) | |||
Recoveries | 57 | 105 | |||
Provision (reclassification) | 2,475 | $ 1,950 | 3,375 | $ 2,195 | |
Balance, end of period | 23,451 | 23,451 | |||
Ending allowance: collectively evaluated for impairment | 22,983 | 22,983 | $ 21,718 | ||
Ending allowance: individually evaluated for impairment | 468 | 468 | 736 | ||
Total ending allowance | 23,451 | 23,451 | 22,454 | ||
Ending loan balance: collectively evaluated for impairment | 1,892,893 | 1,892,893 | 1,826,540 | ||
Ending loan balance: individually evaluated for impairment | 11,374 | 11,374 | 12,568 | ||
Total ending loan balance | 1,923,292 | 1,923,292 | 1,859,787 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Ending loan balance: loans acquired with deteriorated credit quality | 19,025 | 19,025 | 20,679 | ||
Commercial and Other [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 7,717 | 8,614 | |||
Charge-offs | (1,688) | (2,328) | |||
Recoveries | 24 | 60 | |||
Provision (reclassification) | 2,640 | 2,347 | |||
Balance, end of period | 8,693 | 8,693 | |||
Ending allowance: collectively evaluated for impairment | 8,225 | 8,225 | 7,881 | ||
Ending allowance: individually evaluated for impairment | 468 | 468 | 733 | ||
Total ending allowance | 8,693 | 8,693 | 8,614 | ||
Ending loan balance: collectively evaluated for impairment | 640,747 | 640,747 | 628,773 | ||
Ending loan balance: individually evaluated for impairment | 3,539 | 3,539 | 4,396 | ||
Total ending loan balance | 650,361 | 650,361 | 639,716 | ||
Commercial and Other [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Ending loan balance: loans acquired with deteriorated credit quality | 6,075 | 6,075 | 6,547 | ||
Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 11,299 | 10,872 | |||
Charge-offs | (150) | ||||
Recoveries | 32 | 43 | |||
Provision (reclassification) | 368 | 934 | |||
Balance, end of period | 11,699 | 11,699 | |||
Ending allowance: collectively evaluated for impairment | 11,699 | 11,699 | 10,869 | ||
Ending allowance: individually evaluated for impairment | 3 | ||||
Total ending allowance | 11,699 | 11,699 | 10,872 | ||
Ending loan balance: collectively evaluated for impairment | 1,056,003 | 1,056,003 | 1,027,354 | ||
Ending loan balance: individually evaluated for impairment | 7,835 | 7,835 | 7,852 | ||
Total ending loan balance | 1,076,788 | 1,076,788 | 1,049,338 | ||
Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Ending loan balance: loans acquired with deteriorated credit quality | 12,950 | 12,950 | 14,132 | ||
Construction [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 2,051 | 1,781 | |||
Recoveries | 1 | 1 | |||
Provision (reclassification) | 90 | 360 | |||
Balance, end of period | 2,142 | 2,142 | |||
Ending allowance: collectively evaluated for impairment | 2,142 | 2,142 | 1,781 | ||
Total ending allowance | 2,142 | 2,142 | 1,781 | ||
Ending loan balance: collectively evaluated for impairment | 193,049 | 193,049 | 167,491 | ||
Ending loan balance: individually evaluated for impairment | 320 | ||||
Total ending loan balance | 193,049 | 193,049 | 167,811 | ||
Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 40 | 41 | |||
Charge-offs | (5) | (5) | |||
Recoveries | 1 | ||||
Provision (reclassification) | 6 | 4 | |||
Balance, end of period | 41 | 41 | |||
Ending allowance: collectively evaluated for impairment | 41 | 41 | 41 | ||
Total ending allowance | 41 | 41 | 41 | ||
Ending loan balance: collectively evaluated for impairment | 3,094 | 3,094 | 2,922 | ||
Total ending loan balance | 3,094 | 3,094 | 2,922 | ||
Unallocated [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 1,505 | 1,146 | |||
Provision (reclassification) | (629) | (270) | |||
Balance, end of period | 876 | 876 | |||
Ending allowance: collectively evaluated for impairment | 876 | 876 | 1,146 | ||
Total ending allowance | $ 876 | $ 876 | $ 1,146 |
Loans, Allowance for Loan Los42
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Credit Quality Indicators (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of portfolio | 100.00% | 100.00% |
Loan Grade | $ 1,923,292 | $ 1,859,787 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 1,076,788 | 1,049,338 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 193,049 | 167,811 |
Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 650,361 | 639,716 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 3,094 | 2,922 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 83,276 | 74,340 |
Multi-Family Residential [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 31,351 | 22,252 |
Residential 1-4 Family [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 60,026 | 61,548 |
Residential 1-4 Family [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 55,850 | 43,532 |
Owner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 467,902 | 461,557 |
Nonowner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 465,584 | 451,893 |
Commercial Real Estate [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 87,489 | 76,301 |
Commercial Bare Land and Acquisition & Development [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 9,510 | 15,081 |
Residential Bare Land and Acquisition & Development [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | $ 8,849 | $ 10,645 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of portfolio | 97.98% | 97.47% |
Loan Grade | $ 1,884,470 | $ 1,812,751 |
Pass [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 1,052,831 | 1,021,646 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 192,498 | 167,018 |
Pass [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 636,047 | 621,165 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 3,094 | 2,922 |
Pass [Member] | Multi-Family Residential [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 83,276 | 74,340 |
Pass [Member] | Multi-Family Residential [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 31,351 | 22,252 |
Pass [Member] | Residential 1-4 Family [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 58,856 | 58,286 |
Pass [Member] | Residential 1-4 Family [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 55,850 | 43,532 |
Pass [Member] | Owner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 451,539 | 443,737 |
Pass [Member] | Nonowner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 459,160 | 445,283 |
Pass [Member] | Commercial Real Estate [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 87,489 | 76,301 |
Pass [Member] | Commercial Bare Land and Acquisition & Development [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 9,510 | 15,081 |
Pass [Member] | Residential Bare Land and Acquisition & Development [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | $ 8,298 | $ 9,852 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of portfolio | 0.00% | 0.00% |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of portfolio | 1.96% | 2.44% |
Loan Grade | $ 37,687 | $ 45,375 |
Substandard [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 23,957 | 27,692 |
Substandard [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 551 | 793 |
Substandard [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 13,179 | 16,890 |
Substandard [Member] | Residential 1-4 Family [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 1,170 | 3,262 |
Substandard [Member] | Owner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 16,363 | 17,820 |
Substandard [Member] | Nonowner-Occupied Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | 6,424 | 6,610 |
Substandard [Member] | Residential Bare Land and Acquisition & Development [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | $ 551 | $ 793 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of portfolio | 0.06% | 0.09% |
Loan Grade | $ 1,135 | $ 1,661 |
Doubtful [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loan Grade | $ 1,135 | $ 1,661 |
Loans, Allowance for Loan Los43
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Aged Analysis of Dental Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | $ 1,923,292 | $ 1,859,787 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 1,076,788 | 1,049,338 |
Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 83,276 | 74,340 |
Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 60,026 | 61,548 |
Real Estate Loans [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 467,902 | 461,557 |
Real Estate Loans [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 465,584 | 451,893 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 193,049 | 167,811 |
Construction [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 31,351 | 22,252 |
Construction [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 55,850 | 43,532 |
Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 87,489 | 76,301 |
Construction [Member] | Commercial Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 9,510 | 15,081 |
Construction [Member] | Residential Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 8,849 | 10,645 |
Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 650,361 | 639,716 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total ending loan balance | 3,094 | 2,922 |
Age Analysis of Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,586 | 3,553 |
Total Past Due and Nonaccrual | 5,183 | 4,282 |
Total Current | 1,900,704 | 1,834,826 |
Total ending loan balance | 1,905,887 | 1,839,108 |
Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,145 | 759 |
Total Past Due and Nonaccrual | 2,476 | 759 |
Total Current | 1,061,949 | 1,034,447 |
Total ending loan balance | 1,064,425 | 1,035,206 |
Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Current | 83,276 | 74,340 |
Total ending loan balance | 83,276 | 74,340 |
Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 59 | 158 |
Total Past Due and Nonaccrual | 92 | 158 |
Total Current | 59,200 | 59,241 |
Total ending loan balance | 59,292 | 59,399 |
Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 529 | |
Total Past Due and Nonaccrual | 529 | |
Total Current | 458,829 | 452,748 |
Total ending loan balance | 459,358 | 452,748 |
Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 557 | 601 |
Total Past Due and Nonaccrual | 1,855 | 601 |
Total Current | 460,644 | 448,118 |
Total ending loan balance | 462,499 | 448,719 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due and Nonaccrual | 118 | |
Total Current | 192,931 | 167,811 |
Total ending loan balance | 193,049 | 167,811 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Current | 31,351 | 22,252 |
Total ending loan balance | 31,351 | 22,252 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Current | 55,850 | 43,532 |
Total ending loan balance | 55,850 | 43,532 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Current | 87,489 | 76,301 |
Total ending loan balance | 87,489 | 76,301 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | Commercial Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Current | 9,510 | 15,081 |
Total ending loan balance | 9,510 | 15,081 |
Age Analysis of Loans Receivable [Member] | Construction [Member] | Residential Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due and Nonaccrual | 118 | |
Total Current | 8,731 | 10,645 |
Total ending loan balance | 8,849 | 10,645 |
Age Analysis of Loans Receivable [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,441 | 2,794 |
Total Past Due and Nonaccrual | 2,588 | 3,523 |
Total Current | 642,732 | 629,646 |
Total ending loan balance | 645,320 | 633,169 |
Age Analysis of Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due and Nonaccrual | 1 | |
Total Current | 3,092 | 2,922 |
Total ending loan balance | 3,093 | 2,922 |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 1,564 | 363 |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 1,298 | |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 1,298 | |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 118 | |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Construction [Member] | Residential Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 118 | |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 147 | 363 |
30 to 59 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 1 | |
60 to 89 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 33 | 366 |
60 to 89 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | 33 | |
60 to 89 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | $ 33 | |
60 to 89 Days Past Due Still Accruing [Member] | Age Analysis of Loans Receivable [Member] | Commercial and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans Still Accruing | $ 366 |
Loans, Allowance for Loan Los44
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Analysis of Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | $ 9,908 | $ 9,262 |
Recorded Investment With Specific Allowance Valuation | 1,466 | 3,306 |
Total Recorded Investment | 11,374 | 12,568 |
Unpaid Principal Balance | 13,428 | 13,022 |
Average Recorded Investment | 10,828 | 9,787 |
Related Specific Allowance Valuation | 468 | 736 |
Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 6,989 | 6,687 |
Recorded Investment With Specific Allowance Valuation | 846 | 1,165 |
Total Recorded Investment | 7,835 | 7,852 |
Unpaid Principal Balance | 7,896 | 7,935 |
Average Recorded Investment | 7,723 | 4,676 |
Related Specific Allowance Valuation | 3 | |
Real Estate [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 296 | 454 |
Recorded Investment With Specific Allowance Valuation | 300 | |
Total Recorded Investment | 296 | 754 |
Unpaid Principal Balance | 296 | 775 |
Average Recorded Investment | 346 | 644 |
Related Specific Allowance Valuation | 1 | |
Real Estate [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 4,631 | 4,106 |
Recorded Investment With Specific Allowance Valuation | 846 | 865 |
Total Recorded Investment | 5,477 | 4,971 |
Unpaid Principal Balance | 5,477 | 4,971 |
Average Recorded Investment | 5,306 | 1,804 |
Related Specific Allowance Valuation | 2 | |
Real Estate [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 2,062 | 2,127 |
Total Recorded Investment | 2,062 | 2,127 |
Unpaid Principal Balance | 2,123 | 2,189 |
Average Recorded Investment | 2,071 | 2,228 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 320 | |
Total Recorded Investment | 320 | |
Unpaid Principal Balance | 320 | |
Average Recorded Investment | 1,593 | |
Construction [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 37 | |
Construction [Member] | Residential Bare Land and Acquisition & Development [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 320 | |
Total Recorded Investment | 320 | |
Unpaid Principal Balance | 320 | |
Average Recorded Investment | 1,556 | |
Commercial and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment With No Specific Allowance Valuation | 2,919 | 2,255 |
Recorded Investment With Specific Allowance Valuation | 620 | 2,141 |
Total Recorded Investment | 3,539 | 4,396 |
Unpaid Principal Balance | 5,532 | 4,767 |
Average Recorded Investment | 3,105 | 3,518 |
Related Specific Allowance Valuation | $ 468 | $ 733 |
Loans, Allowance for Loan Los45
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Schedule of Troubled Debt Restructurings by Class (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)Contract | Dec. 31, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 27 | 30 |
Outstanding Recorded Investment | $ | $ 9,811 | $ 11,229 |
Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 12 | 14 |
Outstanding Recorded Investment | $ | $ 7,583 | $ 8,328 |
Real Estate [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 4 |
Outstanding Recorded Investment | $ | $ 296 | $ 754 |
Real Estate [Member] | Owner-Occupied Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 4 | 4 |
Outstanding Recorded Investment | $ | $ 5,225 | $ 5,447 |
Real Estate [Member] | Nonowner-Occupied Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 6 | 6 |
Outstanding Recorded Investment | $ | $ 2,062 | $ 2,127 |
Commercial and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 15 | 16 |
Outstanding Recorded Investment | $ | $ 2,228 | $ 2,901 |
Loans, Allowance for Loan Los46
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Schedule of Restructured Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | $ 9,811 | $ 11,229 |
Combination Modification[Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | 50 | |
Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | 7,583 | 8,328 |
Real Estate [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | 296 | $ 754 |
Real Estate [Member] | Combination Modification[Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | 50 | |
Real Estate [Member] | Combination Modification[Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Combination Modification | $ 50 |
Dental Loan Portfolio - Additio
Dental Loan Portfolio - Additional Information (Detail) $ in Thousands | Dec. 31, 2016USD ($) | Jun. 30, 2017USD ($)State | Dec. 31, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Receivable | $ 1,835,313 | $ 1,897,883 | $ 1,835,313 |
Percentage of total outstanding loans | 20.14% | 20.30% | |
Government guarantees | 5,641 | $ 4,879 | $ 5,641 |
Percentage of outstanding dental loan | 1.34% | 1.49% | |
Number of national loan states | State | 45 | ||
Dental Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Receivable | $ 377,478 | $ 387,358 | $ 377,478 |
Percentage of total outstanding loans | 20.30% | 20.14% |
Dental Loan Portfolio - Major C
Dental Loan Portfolio - Major Classifications of Dental Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | $ 1,897,883 | $ 1,835,313 |
Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 387,358 | 377,478 |
Residential Portfolio Segment [Member] | Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 69,157 | 68,708 |
Residential Portfolio Segment [Member] | Dental Loan [Member] | Other Dental Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 423 | 806 |
Residential Portfolio Segment [Member] | Dental Loan [Member] | Owner-Occupied Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 61,383 | 63,793 |
Residential Portfolio Segment [Member] | Dental Loan [Member] | Dental Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 7,351 | 4,109 |
Real Estate Loans [Member] | Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | 61,806 | 64,599 |
Commercial and Other [Member] | Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans Receivable | $ 318,201 | $ 308,770 |
Dental Loan Portfolio - Dental
Dental Loan Portfolio - Dental Loan Total by Market (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable | $ 1,897,883 | $ 1,835,313 |
Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable | 387,358 | 377,478 |
Dental Loan [Member] | Local [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable | 151,062 | 150,268 |
Dental Loan [Member] | National [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable | $ 236,296 | $ 227,210 |
Dental Loan Portfolio - Denta50
Dental Loan Portfolio - Dental Portfolio Allowance Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 22,612 | $ 22,454 | ||
Charge-offs | (1,693) | (2,483) | ||
Recoveries | 57 | 105 | ||
Balance, end of period | 23,451 | 23,451 | ||
Dental Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 4,174 | $ 3,884 | 4,713 | $ 4,022 |
Provision | 2,711 | 253 | 2,804 | 103 |
Charge-offs | (1,635) | (2,275) | ||
Recoveries | 7 | 14 | 15 | 26 |
Balance, end of period | $ 5,257 | $ 4,151 | $ 5,257 | $ 4,151 |
Dental Loan Portfolio - Credit
Dental Loan Portfolio - Credit Quality Indicators (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | $ 1,897,883 | $ 1,835,313 |
Dental Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 387,358 | 377,478 |
Dental Loan [Member] | Local [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 151,062 | 150,268 |
Dental Loan [Member] | National [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 236,296 | 227,210 |
Pass [Member] | Dental Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 384,235 | 373,298 |
Pass [Member] | Dental Loan [Member] | Local [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 149,705 | 148,805 |
Pass [Member] | Dental Loan [Member] | National [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 234,530 | 224,493 |
Substandard [Member] | Dental Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 3,123 | 2,519 |
Substandard [Member] | Dental Loan [Member] | Local [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 1,357 | 1,463 |
Substandard [Member] | Dental Loan [Member] | National [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | $ 1,766 | 1,056 |
Doubtful [Member] | Dental Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | 1,661 | |
Doubtful [Member] | Dental Loan [Member] | National [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans Receivable | $ 1,661 |
Dental Loan Portfolio - Aged An
Dental Loan Portfolio - Aged Analysis of Dental Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net loans | $ 1,897,883 | $ 1,835,313 |
Dental Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-59 Days Past Due Still Accruing | 263 | |
60-89 Days Past Due Still Accruing | 366 | |
Greater Than 90 Days Still Accruing | 0 | 0 |
Nonaccrual | 1,207 | 2,067 |
Total Past Due and Nonaccrual | 1,206 | 2,696 |
Total Current | 386,152 | 374,782 |
Net loans | 387,358 | 377,478 |
Dental Loan [Member] | Local [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Greater Than 90 Days Still Accruing | 0 | 0 |
Nonaccrual | 379 | 407 |
Total Past Due and Nonaccrual | 378 | 407 |
Total Current | 150,684 | 149,861 |
Net loans | 151,062 | 150,268 |
Dental Loan [Member] | National [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
30-59 Days Past Due Still Accruing | 263 | |
60-89 Days Past Due Still Accruing | 366 | |
Greater Than 90 Days Still Accruing | 0 | 0 |
Nonaccrual | 828 | 1,660 |
Total Past Due and Nonaccrual | 828 | 2,289 |
Total Current | 235,468 | 224,921 |
Net loans | $ 236,296 | $ 227,210 |
Securities Sold Under Agreeme53
Securities Sold Under Agreement to Repurchase - Schedule of Information Regarding Securities Sold Under Agreements Repurchase (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Disclosure of Repurchase Agreements [Abstract] | ||
Securities sold under agreements to repurchase | $ 2,146,000 | $ 1,966,000 |
Average balance outstanding for the period | 2,283,000 | 702,000 |
Maximum amount outstanding at any month end during the period | $ 3,100,000 | $ 2,017,000 |
Weighted average interest rate for the period | 0.08% | 0.06% |
Weighted average interest rate at period end | 0.08% | 0.08% |
Federal Funds and Overnight F54
Federal Funds and Overnight Funds Purchased - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Federal Home Loan Banks [Abstract] | ||
Unsecured federal funds borrowing lines | $ 154,000,000 | $ 154,000,000 |
Unsecured federal funds borrowing lines outstanding | 0 | 0 |
Secured overnight borrowing line from Federal Reserve Bank | 86,342,000 | 80,784,000 |
Commercial loans pledged for Federal Reserve Bank borrowing line | 142,145,000 | 143,679,000 |
Outstanding borrowings | $ 0 | $ 0 |
Federal Home Loan Bank Borrow55
Federal Home Loan Bank Borrowings - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Banking and Thrift [Abstract] | ||
Percentage of federal home loan bank borrowings | 35.00% | |
FHLB maximum borrowing line | $ 914,107,000 | $ 889,503,000 |
Pledged real estate loans and securities | 895,332,000 | 867,596,000 |
Discounted value on pledged real estate loans and securities | 652,115,000 | 632,202,000 |
Federal Home Loan Bank borrowings | $ 169,000,000 | $ 65,000,000 |
Federal Home Loan Bank Borrow56
Federal Home Loan Bank Borrowings - Summary of Outstanding Federal Home Loan Bank Borrowings by Maturity (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank borrowings | $ 169,000 | $ 65,000 |
Cash Management Advance [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Federal Home Loan Bank borrowings | $ 164,000 | |
2017 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB borrowings, maturity date | 2,017 | |
2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB borrowings, maturity date | 2,018 | |
Current Rates | 1.55% | |
Federal Home Loan Bank borrowings | $ 3,000 | |
2019 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB borrowings, maturity date | 2,019 | |
2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB borrowings, maturity date | 2,020 | |
2021 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
FHLB borrowings, maturity date | 2,021 | |
Thereafter [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Current Rates | 3.85% | |
Federal Home Loan Bank borrowings | $ 2,000 |
Borrowed Funds - Additional Inf
Borrowed Funds - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 06, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Debt Instrument [Line Items] | ||||
Junior subordinated debentures | $ 11,389 | $ 11,311 | ||
Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ||||
Fair value of debentures | $ 34,143 | 34,096 | ||
Subordinated Debentures [Member] | Public Offering [Member] | ||||
Debt Instrument [Line Items] | ||||
Debentures, principal amount | $ 35,000 | |||
Debentures, callable description | The Notes are callable at par after five years. | |||
Debentures, maturity date | Sep. 30, 2026 | |||
Debenture interest accrued and paid | 5.875% | |||
Debentures, interest rate terms | Bear interest at a fixed annual rate of 5.875% per year, from and including June 27, 2016, but excluding September 30, 2021. From and including September 30, 2021 to the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 471.5 basis points. | |||
Junior Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ||||
Debenture interest accrued and paid | 6.265% | |||
Junior subordinated debentures | $ 8,248 | |||
Variable rate of securities | LIBOR plus 135 basis points | |||
Fair value of debentures | $ 11,389 | $ 11,311 | ||
Trust Preferred Securities [Member] | ||||
Debt Instrument [Line Items] | ||||
Trust preferred securities, liquidation amount | $ 8,000 | |||
Trust preferred securities, interest rate | 6.265% | |||
Trust preferred securities, interest rate terms | The interest rate on the TPS was 6.265% until January 2011, after which it was converted to a floating rate of three-month LIBOR plus 135 basis points. | |||
Trust preferred securities, maturity year | 2,035 | |||
Trust preferred securities, callable date | Jan. 7, 2011 | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debentures [Member] | Public Offering [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable rate of securities | 4.715% | |||
London Interbank Offered Rate (LIBOR) [Member] | Junior Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable rate of securities | 1.35% | |||
London Interbank Offered Rate (LIBOR) [Member] | Trust Preferred Securities [Member] | ||||
Debt Instrument [Line Items] | ||||
Trust preferred securities, variable rate | 1.35% | |||
Foundation Bancorp Inc [Member] | ||||
Debt Instrument [Line Items] | ||||
Acquisition date | Sep. 6, 2016 | |||
Foundation Bancorp Inc [Member] | Junior Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ||||
Debentures, interest rate terms | The interest rate on these trust preferred securities is a floating rate of three-month LIBOR plus 173 basis points. | |||
Junior subordinated debentures | $ 6,148 | |||
Fair value of debentures | 3,013 | |||
Foundation Bancorp Inc [Member] | Trust Preferred Securities [Member] | ||||
Debt Instrument [Line Items] | ||||
Trust preferred securities, liquidation amount | $ 6,000 | |||
Foundation Bancorp Inc [Member] | London Interbank Offered Rate (LIBOR) [Member] | Junior Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable rate of securities | 1.73% |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) $ in Thousands | Jun. 30, 2017USD ($)shares | Jun. 30, 2017USD ($)shares |
2006 SOEC Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, authorized shares | shares | 1,550,000 | 1,550,000 |
Maximum percentage of awards to be granted at exercise prices | 100.00% | |
Stock Options [Member] | Minimum [Member] | 2006 SOEC Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, award vesting period | 4 years | |
Stock Options [Member] | Maximum [Member] | 2006 SOEC Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, award vesting period | 10 years | |
Employee RSUs [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation expense | $ | $ 2,334 | $ 2,334 |
Forfeiture rate | 13.00% | |
Weighted-average period of time | 2 years 6 months 3 days |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Shares and Aggregate Grant-Date Fair Market Values (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 3,157 | 144,851 |
Grant Date Fair Market Value | $ 79 | $ 2,406 |
Director Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 14,400 | |
Grant Date Fair Market Value | $ 240 | |
Employee RSUs [Member] | Vesting Period Four Years [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 1,192 | 130,151 |
Grant Date Fair Market Value | $ 30 | $ 2,161 |
Employee RSUs [Member] | Vesting Period Two Years [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 1,965 | |
Grant Date Fair Market Value | $ 49 | |
Employee RSUs [Member] | Vesting Period Immediate [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 300 | |
Grant Date Fair Market Value | $ 5 |
Share-Based Compensation - Sche
Share-Based Compensation - Schedule of Compensation Expense and Tax Benefits (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 349 | $ 646 | $ 877 | $ 1,030 |
Tax Benefit | 133 | 245 | 276 | 391 |
Director Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | 240 | 240 | ||
Tax Benefit | 91 | 91 | ||
Employee RSUs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | 349 | 406 | 727 | 790 |
Tax Benefit | $ 133 | $ 154 | 276 | $ 300 |
Employee Cash SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense | $ 150 |
Share-Based Compensation - Su61
Share-Based Compensation - Summary of RSU Activity (Detail) - Employee RSUs [Member] | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Non-Vested Restricted Stock Units, Balance, beginning of period | shares | 300,840 |
Non-Vested Restricted Stock Units, Granted | shares | 1,985 |
Non-Vested Restricted Stock Units, Vested shares issued | shares | (70,649) |
Non-Vested Restricted Stock Units, Vested shares surrendered for taxes | shares | (43,920) |
Non-Vested Restricted Stock Units, Forfeited or expired | shares | (7,636) |
Non-Vested Restricted Stock Units, Balance, end of period | shares | 180,620 |
Weighted Average Grant Date Fair Value, Balance, beginning of period | $ / shares | $ 14.30 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 25.15 |
Weighted Average Grant Date Fair Value, Vested shares issued | $ / shares | 13.51 |
Weighted Average Grant Date Fair Value, Vested shares surrendered for taxes | $ / shares | 13.51 |
Weighted Average Grant Date Fair Value, Forfeited or expired | $ / shares | 15.40 |
Weighted Average Grant Date Fair Value, Balance, end of period | $ / shares | $ 14.88 |
Share-Based Compensation - Su62
Share-Based Compensation - Summary of Stock Options, Employee Stock SARs, and Employee Cash SARs Exercised (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 65,599 | 60,556 | 212,178 | 87,118 |
Intrinsic Value | $ 781 | $ 70 | $ 1,507 | $ 128 |
Number of Shares Issued | 35,800 | 15,822 | 90,191 | 33,292 |
Net Cash Payment to Employees | $ 26 | $ 27 | $ 169 | $ 32 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 56,776 | 11,951 | 137,307 | 28,426 |
Weighted Average Exercise Price | $ 12.65 | $ 12.07 | $ 14.90 | $ 12.07 |
Intrinsic Value | $ 734 | $ 54 | $ 1,396 | $ 108 |
Number of Shares Issued | 33,336 | 11,951 | 79,601 | 28,426 |
Employee Stock SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 8,014 | 32,304 | 46,721 | 38,569 |
Weighted Average Exercise Price | $ 12.44 | $ 13.41 | $ 15.85 | $ 11.82 |
Intrinsic Value | $ 47 | $ 16 | $ 111 | $ 20 |
Number of Shares Issued | 2,464 | 3,871 | 10,590 | 4,866 |
Employee Cash SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 809 | 16,301 | 28,150 | 20,123 |
Weighted Average Exercise Price | $ 14.44 | $ 14.07 | $ 16.47 | $ 11.69 |
Net Cash Payment to Employees | $ 26 | $ 27 | $ 169 | $ 32 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)Interest_Rate_Swaps | Dec. 31, 2016USD ($) | |
Derivatives, Fair Value [Line Items] | ||
Collateral posting | $ 250 | $ 250 |
Fixed Rate Note [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Debt instrument term | 10 years | 10 years |
Debt instrument interest rate | 5.71% | 5.71% |
Debt instrument maturity date | Aug. 31, 2023 | Aug. 31, 2023 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative notional amount | $ 8,419 | $ 8,540 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative notional amount | $ 1,474 | 1,492 |
Interest Rate Swap Agreement [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Number of derivative instruments | Interest_Rate_Swaps | 2 | |
Interest Rate Swap Agreement [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative notional amount | $ 8,419 | 8,540 |
Interest Rate Swap Agreement [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative notional amount | $ 1,474 | $ 1,492 |
Derivative Instruments - Summar
Derivative Instruments - Summary of Quantitative Information Pertaining to Interest Rate Swaps (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 8,419 | $ 8,540 |
Weighted average maturity in years | 4 years 11 months 12 days | 5 years 5 months 12 days |
Not Designated as Hedging Instrument [Member] | Pay Rate [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Weighted average pay rate | 4.85% | 4.85% |
Not Designated as Hedging Instrument [Member] | Receive Rate [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Weighted average pay rate | 4.08% | 3.63% |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | $ 1,474 | $ 1,492 |
Weighted average maturity in years | 6 years 1 month 24 days | 6 years 7 months 24 days |
Designated as Hedging Instrument [Member] | Pay Rate [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Weighted average pay rate | 5.71% | 5.71% |
Designated as Hedging Instrument [Member] | Receive Rate [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Weighted average pay rate | 3.99% | 3.54% |
Derivative Instruments - Summ65
Derivative Instruments - Summary of Derivative Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Income statement impact of interest rate swaps | $ 2 | $ (3) | $ 4 | $ (4) | |
Designated as Hedging Instrument [Member] | Other Noninterest Income [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Income statement impact of interest rate swaps | 2 | $ (3) | 4 | $ (4) | |
Other Assets [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 59 | 59 | $ 150 | ||
Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 44 | 44 | 45 | ||
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | 15 | 15 | 14 | ||
Other Payables [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | 77 | 77 | 81 | ||
Other Payables [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | 62 | 62 | 67 | ||
Other Payables [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Liability Derivatives | $ 15 | $ 15 | 14 | ||
Cash Flow Hedge-Trust Preferred [Member] | Other Assets [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Asset Derivatives | $ 91 |
Fair Value - Estimated Fair Val
Fair Value - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Cash and cash equivalents | $ 75,553 | $ 67,113 |
Loans, net of deferred fees | 1,921,334 | 1,857,767 |
Accrued interest receivable | 6,859 | 7,017 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Bank-owned life insurance | 35,614 | 35,165 |
Financial liabilities: | ||
Deposits | 2,105,301 | 2,148,103 |
Federal Home Loan Bank borrowings | 169,000 | 65,000 |
Subordinated debenture | 34,143 | 34,096 |
Accrued interest payable | 131 | 176 |
Junior Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Junior subordinated debentures | 11,389 | 11,311 |
Carrying Amount [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 75,553 | 67,113 |
Securities available-for-sale | 470,004 | 470,996 |
Loans, net of deferred fees | 1,921,334 | 1,857,767 |
Accrued interest receivable | 6,859 | 7,017 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Bank-owned life insurance | 35,614 | 35,165 |
Interest rate swaps | 59 | 150 |
Financial liabilities: | ||
Deposits | 2,105,301 | 2,148,103 |
Federal Home Loan Bank borrowings | 169,000 | 65,000 |
Subordinated debenture | 34,143 | 34,096 |
Accrued interest payable | 131 | 176 |
Interest rate swaps | 77 | 81 |
Carrying Amount [Member] | Junior Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Junior subordinated debentures | 11,389 | 11,311 |
Fair Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 75,553 | 67,113 |
Securities available-for-sale | 470,004 | 470,996 |
Loans, net of deferred fees | 1,891,032 | 1,837,673 |
Accrued interest receivable | 6,859 | 7,017 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Bank-owned life insurance | 35,614 | 35,165 |
Interest rate swaps | 59 | 150 |
Financial liabilities: | ||
Deposits | 2,106,568 | 2,147,056 |
Federal Home Loan Bank borrowings | 169,012 | 65,043 |
Subordinated debenture | 34,143 | 32,140 |
Accrued interest payable | 131 | 176 |
Interest rate swaps | 77 | 81 |
Fair Value [Member] | Junior Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Junior subordinated debentures | $ 7,513 | $ 6,972 |
Fair Value - Fair Value Hierarc
Fair Value - Fair Value Hierarchy for Assets and Liabilities Not Measured at Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets: | ||
Cash and cash equivalents | $ 75,553 | $ 67,113 |
Loans | 1,921,334 | 1,857,767 |
Accrued interest receivable | 6,859 | 7,017 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Bank-owned life insurance | 35,165 | |
Financial liabilities: | ||
Deposits | 2,105,301 | 2,148,103 |
Federal Home Loan Bank borrowings | 169,000 | 65,000 |
Accrued interest payable | 131 | 176 |
Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Debentures | 34,143 | 34,096 |
Junior Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Debentures | 11,389 | 11,311 |
Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 75,553 | 67,113 |
Accrued interest receivable | 6,859 | 7,017 |
Federal Home Loan Bank stock | 9,804 | 5,423 |
Bank-owned life insurance | 35,165 | |
Financial liabilities: | ||
Deposits | 1,945,728 | 1,969,220 |
Accrued interest payable | 131 | 176 |
Level 2 [Member] | ||
Financial liabilities: | ||
Deposits | 159,573 | 177,836 |
Federal Home Loan Bank borrowings | 169,012 | 65,043 |
Level 2 [Member] | Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Debentures | 34,143 | 32,140 |
Level 2 [Member] | Junior Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Debentures | 7,513 | 6,972 |
Level 3 [Member] | ||
Financial assets: | ||
Loans | $ 1,891,032 | $ 1,837,673 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured on a recurring basis | $ 470,063 | $ 471,146 |
Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 25,693 | 25,620 |
Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 111,215 | 110,739 |
Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 291,954 | 290,036 |
Private-Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 1,659 | 1,937 |
SBA Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 39,483 | 42,664 |
Interest Rate Swap Agreement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 59 | 150 |
Interest rate swap liabilities measured on a recurring basis | 77 | 81 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured on a recurring basis | 59 | 150 |
Level 1 [Member] | Interest Rate Swap Agreement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 59 | 150 |
Interest rate swap liabilities measured on a recurring basis | 77 | 81 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured on a recurring basis | 468,737 | 469,628 |
Level 2 [Member] | Obligations of U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 25,693 | 25,620 |
Level 2 [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 111,215 | 110,739 |
Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 291,954 | 290,036 |
Level 2 [Member] | Private-Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 392 | 569 |
Level 2 [Member] | SBA Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 39,483 | 42,664 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured on a recurring basis | 1,267 | 1,368 |
Level 3 [Member] | Private-Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 1,267 | $ 1,368 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)Security | Dec. 31, 2016Security | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfer of security from levels 1 and 2 to level 3 | Security | 0 | 0 |
Carrying value of loans fully charged off | $ | $ 0 | |
Other Real Estate Owned [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Term period for external appraisals | 6 months | |
Other Real Estate Owned [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Term period for external appraisals | 12 months |
Fair Value - Reconciliation of
Fair Value - Reconciliation of Private-Label Mortgage-Backed Securities Measured at Fair Value on Recurring Basis (Detail) - Private-Label Mortgage-Backed Securities [Member] - Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 1,315 | $ 1,520 | $ 1,368 | $ 1,586 |
Transfers into level 3 | 0 | 0 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Included in earnings | (1) | (17) | ||
Included in other comprehensive income | 32 | (31) | 58 | (18) |
Paydowns | (80) | (90) | (158) | (152) |
Purchases, issuances, sales and settlements | ||||
Purchases | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 1,267 | $ 1,399 | $ 1,267 | $ 1,399 |
Fair Value - Assets Measured at
Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans measured for impairment (net of government guarantees and specific reserve) | $ 298 | |
Other real estate owned | $ 10,936 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans measured for impairment (net of government guarantees and specific reserve) | $ 298 | |
Other real estate owned | $ 10,936 |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk weighted assets), Actual Amount | $ 287,244 | $ 278,444 |
Total capital (to risk weighted assets), Actual Ratio | 12.88% | 12.69% |
Tier 1 capital (to risk weighted assets), Actual Amount | $ 229,202 | $ 221,346 |
Tier 1 capital (to risk weighted assets), Actual Ratio | 10.27% | 10.08% |
Common Equity Tier 1 (to risk weighted assets),Actual Amount | $ 215,966 | $ 208,873 |
Common Equity Tier 1 (to risk weighted assets),Actual Ratio | 9.68% | 9.52% |
Tier 1 capital (to leverage assets), Actual Amount | $ 229,202 | $ 221,346 |
Tier 1 capital (to leverage assets), Actual Ratio | 9.04% | 9.01% |
Pacific Continental Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk weighted assets), Actual Amount | $ 281,769 | $ 267,416 |
Total capital (to risk weighted assets), Actual Ratio | 12.63% | 12.19% |
Tier 1 capital (to risk weighted assets), Actual Amount | $ 257,870 | $ 244,414 |
Tier 1 capital (to risk weighted assets), Actual Ratio | 11.56% | 11.14% |
Common Equity Tier 1 (to risk weighted assets),Actual Amount | $ 257,870 | $ 244,414 |
Common Equity Tier 1 (to risk weighted assets),Actual Ratio | 11.56% | 11.14% |
Tier 1 capital (to leverage assets), Actual Amount | $ 257,870 | $ 244,414 |
Tier 1 capital (to leverage assets), Actual Ratio | 10.17% | 9.96% |
Total capital (to risk weighted assets), For Capital Adequacy Purposes Amount | $ 178,434 | $ 175,555 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount | 133,826 | 131,666 |
Common Equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Amount | 100,369 | 98,750 |
Tier 1 capital (to leverage assets), For Capital Adequacy Purposes Amount | $ 101,377 | $ 98,181 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Common Equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1 capital (to leverage assets), For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 223,043 | $ 219,444 |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 178,434 | 175,555 |
Common Equity Tier 1 (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 144,978 | 142,638 |
Tier 1 capital (to leverage assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 111,521 | $ 122,726 |
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), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common Equity Tier 1 (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1 capital (to leverage assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |