Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 31, 2019 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | EQBK | |
Entity Registrant Name | EQUITY BANCSHARES INC | |
Entity Central Index Key | 0001227500 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 15,442,584 | |
Entity File Number | 001-37624 | |
Entity Tax Identification Number | 72-1532188 | |
Entity Address, Address Line One | 7701 East Kellogg Drive | |
Entity Address, Address Line Two | Suite 300 | |
Entity Address, City or Town | Wichita | |
Entity Address, State or Province | KS | |
Entity Address, Postal Zip Code | 67207 | |
City Area Code | 316 | |
Local Phone Number | 612.6000 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Class A, Common Stock, par value $0.01 per share | |
Security Exchange Name | NASDAQ | |
Entity Incorporation, State or Country Code | KS | |
Document Quarterly Report | true | |
Document Transition Report | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 167,895 | $ 192,735 |
Federal funds sold | 158 | 83 |
Cash and cash equivalents | 168,053 | 192,818 |
Interest-bearing time deposits in other banks | 3,497 | 4,991 |
Available-for-sale securities | 152,680 | 168,875 |
Held-to-maturity securities, fair value of $778,966 and $739,989 | 764,163 | 748,356 |
Loans held for sale | 8,784 | 2,972 |
Loans, net of allowance for loan losses of $17,875 and $11,454 | 2,583,049 | 2,563,954 |
Other real estate owned, net | 5,944 | 6,372 |
Premises and equipment, net | 84,481 | 80,442 |
Bank-owned life insurance | 74,599 | 73,105 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,710 | 29,214 |
Interest receivable | 16,994 | 17,372 |
Goodwill | 136,432 | 131,712 |
Core deposit intangibles, net | 20,727 | 21,725 |
Other | 23,550 | 19,808 |
Total assets | 4,074,663 | 4,061,716 |
Deposits | ||
Demand | 488,214 | 503,831 |
Total non-interest-bearing deposits | 488,214 | 503,831 |
Savings, NOW, and money market | 1,689,606 | 1,611,710 |
Time | 929,109 | 1,007,906 |
Total interest-bearing deposits | 2,618,715 | 2,619,616 |
Total deposits | 3,106,929 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 40,652 | 50,068 |
Federal Home Loan Bank advances | 410,093 | 384,898 |
Bank stock loan | 14,770 | 15,450 |
Subordinated debentures | 14,485 | 14,260 |
Contractual obligations | 3,744 | 3,965 |
Interest payable and other liabilities | 16,940 | 13,687 |
Total liabilities | 3,607,613 | 3,605,775 |
Commitments and contingent liabilities | ||
Stockholders' equity | ||
Common stock | 174 | 173 |
Additional paid-in capital | 382,155 | 379,085 |
Retained earnings | 115,743 | 101,326 |
Accumulated other comprehensive loss | (423) | (4,867) |
Employee stock loans | (77) | (121) |
Treasury stock | (30,522) | (19,655) |
Total stockholders’ equity | 467,050 | 455,941 |
Total liabilities and stockholders’ equity | $ 4,074,663 | $ 4,061,716 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||||||
Held-to-maturity securities, fair value | $ 778,966 | $ 739,989 | ||||
Loans, allowance for loan losses | $ 17,875 | $ 17,777 | $ 11,454 | $ 11,010 | $ 10,083 | $ 8,498 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest and dividend income | ||||
Loans, including fees | $ 38,051 | $ 36,335 | $ 112,611 | $ 98,484 |
Securities, taxable | 4,673 | 4,836 | 14,724 | 12,671 |
Securities, nontaxable | 1,045 | 1,097 | 3,143 | 3,001 |
Federal funds sold and other | 780 | 754 | 2,037 | 1,820 |
Total interest and dividend income | 44,549 | 43,022 | 132,515 | 115,976 |
Interest expense | ||||
Deposits | 10,507 | 6,510 | 32,381 | 16,566 |
Federal funds purchased and retail repurchase agreements | 50 | 30 | 116 | 77 |
Federal Home Loan Bank advances | 1,957 | 3,155 | 5,103 | 6,548 |
Bank stock loan | 198 | 265 | 507 | 448 |
Subordinated debentures | 311 | 307 | 955 | 875 |
Total interest expense | 13,023 | 10,267 | 39,062 | 24,514 |
Net interest income | 31,526 | 32,755 | 93,453 | 91,462 |
Provision for loan losses | 679 | 1,291 | 17,299 | 3,211 |
Net interest income after provision for loan losses | 30,847 | 31,464 | 76,154 | 88,251 |
Non-interest income | ||||
Increase in value of bank-owned life insurance | 507 | 521 | 1,494 | 1,681 |
Net gain (loss) from securities transactions | 4 | (4) | 17 | (14) |
Other | 768 | 945 | 2,577 | 1,929 |
Total non-interest income | 6,572 | 5,433 | 18,347 | 14,276 |
Non-interest expense | ||||
Salaries and employee benefits | 13,039 | 12,361 | 40,204 | 34,881 |
Net occupancy and equipment | 2,177 | 2,125 | 6,332 | 5,938 |
Data processing | 2,673 | 2,195 | 7,436 | 5,837 |
Professional fees | 991 | 686 | 3,375 | 2,245 |
Advertising and business development | 806 | 802 | 2,174 | 2,086 |
Telecommunications | 523 | 451 | 1,593 | 1,252 |
FDIC insurance | 111 | 457 | 1,119 | 1,211 |
Courier and postage | 352 | 321 | 1,020 | 879 |
Free nationwide ATM cost | 459 | 364 | 1,240 | 986 |
Amortization of core deposit intangibles | 784 | 694 | 2,348 | 1,703 |
Loan expense | 165 | 319 | 608 | 810 |
Other real estate owned | (88) | 355 | 326 | (48) |
Merger expenses | 757 | 915 | 6,524 | |
Other | 2,231 | 1,760 | 6,099 | 4,945 |
Total non-interest expense | 24,223 | 23,647 | 74,789 | 69,249 |
Income before income taxes | 13,196 | 13,250 | 19,712 | 33,278 |
Provision for income taxes | 2,790 | 2,928 | 4,147 | 7,378 |
Net income and net income allocable to common stockholders | $ 10,406 | $ 10,322 | $ 15,565 | $ 25,900 |
Basic earnings per share | $ 0.67 | $ 0.65 | $ 0.99 | $ 1.70 |
Diluted earnings per share | $ 0.66 | $ 0.64 | $ 0.98 | $ 1.66 |
Service Charges and Fees [Member] | ||||
Non-interest income | ||||
Non-interest income | $ 2,268 | $ 1,912 | $ 6,431 | $ 5,221 |
Debit Card Income [Member] | ||||
Non-interest income | ||||
Non-interest income | 2,205 | 1,667 | 6,129 | 4,442 |
Mortgage Banking [Member] | ||||
Non-interest income | ||||
Non-interest income | $ 820 | $ 392 | $ 1,699 | $ 1,017 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 10,406 | $ 10,322 | $ 15,565 | $ 25,900 |
Other comprehensive income (loss): | ||||
Unrealized holding gains (losses) arising during the period on available-for-sale securities | 952 | (1,565) | 5,240 | (5,701) |
Amortization of unrealized losses on held-to-maturity securities | 209 | 114 | 714 | 348 |
Total other comprehensive income (loss) | 1,161 | (1,451) | 5,954 | (5,353) |
Tax effect | (293) | 368 | (1,510) | 1,357 |
Other comprehensive income (loss), net of tax | 868 | (1,083) | 4,444 | (3,996) |
Comprehensive income | $ 11,274 | $ 9,239 | $ 20,009 | $ 21,904 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Kansas Bank Corporation [Member] | Adams Dairy Bancshares, Inc. [Member] | Common Stock [Member] | Common Stock [Member]Kansas Bank Corporation [Member] | Common Stock [Member]Adams Dairy Bancshares, Inc. [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member]Kansas Bank Corporation [Member] | Additional Paid-In Capital [Member]Adams Dairy Bancshares, Inc. [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Employee Stock Loans [Member] | Treasury Stock [Member] |
Beginning balance at Dec. 31, 2017 | $ 374,144 | $ 161 | $ 331,339 | $ 65,512 | $ (3,092) | $ (121) | $ (19,655) | ||||||
Beginning balance, shares at Dec. 31, 2017 | 14,605,607 | ||||||||||||
Net income | 25,900 | 25,900 | |||||||||||
Other comprehensive (loss) income, net of tax effects | (3,996) | (3,996) | |||||||||||
Stock based compensation | 1,950 | 1,950 | |||||||||||
Stock based compensation, shares | 1,375 | ||||||||||||
Common stock issued upon exercise of stock options | 123 | 123 | |||||||||||
Common stock issued upon exercise of stock options, shares | 6,400 | ||||||||||||
Common stock issued under stock-based incentive plan, shares | 14,401 | ||||||||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses | $ 31,896 | $ 13,220 | $ 8 | $ 4 | $ 31,888 | $ 13,216 | |||||||
Issuance of common stock in connection with the acquisition, net of issuance expenses, shares | 820,849 | 344,063 | |||||||||||
Adoption of ASU | ASU 2016-01 [Member] | (11) | 11 | |||||||||||
Ending balance at Sep. 30, 2018 | 443,237 | $ 173 | 378,516 | 91,401 | (7,077) | (121) | (19,655) | ||||||
Ending balance, shares at Sep. 30, 2018 | 15,792,695 | ||||||||||||
Beginning balance at Jun. 30, 2018 | 433,282 | $ 173 | 377,800 | 81,079 | (5,994) | (121) | (19,655) | ||||||
Beginning balance, shares at Jun. 30, 2018 | 15,780,777 | ||||||||||||
Net income | 10,322 | 10,322 | |||||||||||
Other comprehensive (loss) income, net of tax effects | (1,083) | (1,083) | |||||||||||
Stock based compensation | 611 | 611 | |||||||||||
Common stock issued upon exercise of stock options | 105 | 105 | |||||||||||
Common stock issued upon exercise of stock options, shares | 5,150 | ||||||||||||
Common stock issued under stock-based incentive plan, shares | 6,768 | ||||||||||||
Ending balance at Sep. 30, 2018 | 443,237 | $ 173 | 378,516 | 91,401 | (7,077) | (121) | (19,655) | ||||||
Ending balance, shares at Sep. 30, 2018 | 15,792,695 | ||||||||||||
Beginning balance at Dec. 31, 2018 | 455,941 | $ 173 | 379,085 | 101,326 | (4,867) | (121) | (19,655) | ||||||
Beginning balance, shares at Dec. 31, 2018 | 15,793,095 | ||||||||||||
Net income | 15,565 | 15,565 | |||||||||||
Other comprehensive (loss) income, net of tax effects | 4,444 | 4,444 | |||||||||||
Stock based compensation | 2,349 | 2,349 | |||||||||||
Stock based compensation, shares | 9,104 | ||||||||||||
Common stock issued upon exercise of stock options | 316 | 316 | |||||||||||
Common stock issued upon exercise of stock options, shares | 17,502 | ||||||||||||
Common stock issued under stock-based incentive plan | 1 | $ 1 | |||||||||||
Common stock issued under stock-based incentive plan, shares | 22,428 | ||||||||||||
Common stock issued under employee stock purchase plan | 405 | 405 | |||||||||||
Common stock issued under employee stock purchase plan, share | 19,221 | ||||||||||||
Treasury stock purchases | $ (10,867) | (10,867) | |||||||||||
Treasury stock purchases, shares | (143,210) | (421,016) | |||||||||||
Repayment on employee stock loans | $ 44 | 44 | |||||||||||
Adoption of ASU | ASU 2017-08 [Member] | (1,148) | (1,148) | |||||||||||
Ending balance at Sep. 30, 2019 | 467,050 | $ 174 | 382,155 | 115,743 | (423) | (77) | (30,522) | ||||||
Ending balance, shares at Sep. 30, 2019 | 15,440,334 | ||||||||||||
Beginning balance at Jun. 30, 2019 | 458,406 | $ 173 | 381,133 | 105,337 | (1,291) | (83) | (26,863) | ||||||
Beginning balance, shares at Jun. 30, 2019 | 15,563,873 | ||||||||||||
Net income | 10,406 | 10,406 | |||||||||||
Other comprehensive (loss) income, net of tax effects | 868 | 868 | |||||||||||
Stock based compensation | 617 | 617 | |||||||||||
Common stock issued under stock-based incentive plan | 1 | $ 1 | |||||||||||
Common stock issued under stock-based incentive plan, shares | 450 | ||||||||||||
Common stock issued under employee stock purchase plan | 405 | 405 | |||||||||||
Common stock issued under employee stock purchase plan, share | 19,221 | ||||||||||||
Treasury stock purchases | (3,659) | (3,659) | |||||||||||
Treasury stock purchases, shares | (143,210) | ||||||||||||
Repayment on employee stock loans | 6 | 6 | |||||||||||
Ending balance at Sep. 30, 2019 | $ 467,050 | $ 174 | $ 382,155 | $ 115,743 | $ (423) | $ (77) | $ (30,522) | ||||||
Ending balance, shares at Sep. 30, 2019 | 15,440,334 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Kansas Bank Corporation [Member] | |
Issuance expense on issuance of common stock | $ 207 |
Adams Dairy Bancshares, Inc. [Member] | |
Issuance expense on issuance of common stock | $ 236 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities | ||
Net income | $ 15,565 | $ 25,900 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Stock-based compensation | 2,349 | 1,950 |
Depreciation | 2,637 | 2,276 |
Amortization of operating lease right-of-use asset | 465 | |
Amortization of cloud computing implementation costs | 73 | |
Provision for loan losses | 17,299 | 3,211 |
Net (accretion) amortization of purchase accounting adjustments | (3,639) | (4,090) |
Amortization of premiums and discounts on securities | 4,315 | 2,364 |
Amortization of intangibles | 2,385 | 1,740 |
Deferred income taxes | (383) | (150) |
FHLB stock dividends | (704) | (1,053) |
Loss (gain) on sales and valuation adjustments on other real estate owned | (143) | (384) |
Net loss (gain) on securities transactions | (1) | |
Change in unrealized loss (gain) on equity securities | (17) | 15 |
Loss (gain) on disposal of premises and equipment | (10) | (189) |
Loss (gain) on sale of foreclosed assets | 11 | (7) |
Loss (gain) on sales of loans | (1,405) | (842) |
Originations of loans held for sale | (71,483) | (35,285) |
Proceeds from the sale of loans held for sale | 67,076 | 36,783 |
Increase in the value of bank-owned life insurance | (1,494) | (1,681) |
Change in fair value of derivatives | 502 | (9) |
Payments on operating lease payable | (583) | |
Net change in: | ||
Interest receivable | 394 | (2,012) |
Other assets | (3,104) | 90 |
Interest payable and other liabilities | 760 | 953 |
Net cash provided by (used in) operating activities | 30,866 | 29,579 |
Cash flows from (to) investing activities | ||
Purchases of available-for-sale securities | (36,007) | |
Purchases of held-to-maturity securities | (106,019) | (96,239) |
Proceeds from sales, calls, pay-downs and maturities of available-for-sale securities | 20,096 | 52,571 |
Proceeds from calls, pay-downs and maturities of held-to-maturity securities | 86,565 | 53,707 |
Net change in interest-bearing time deposits in other banks | 1,494 | 992 |
Net change in loans | (26,499) | (160,479) |
Capitalized construction cost of other real estate owned | (56) | |
Purchase of premises and equipment | (6,020) | (7,081) |
Proceeds from sale of premises and equipment | 10 | 1,200 |
Proceeds from sale of foreclosed assets | 312 | 170 |
Net redemption (purchase) of FHLB and FRB stock | (1,792) | (11,864) |
Proceeds from sale of other real estate owned | 1,331 | 2,991 |
Proceeds from bank-owned life insurance death benefits | 347 | |
Net cash provided by (used in) investing activities | 54,782 | (179,599) |
Cash flows from (to) financing activities | ||
Net increase (decrease) in deposits | (115,208) | (73,220) |
Net change in federal funds purchased and retail repurchase agreements | (9,416) | 5,758 |
Net borrowings (payments) on Federal Home Loan Bank line of credit | 27,453 | 205,365 |
Principal payments on Federal Home Loan Bank term advances | (2,240) | (500) |
Proceeds from bank stock loan | 7,208 | 22,500 |
Principal payments on bank stock loan | (7,888) | (588) |
Principal payments on employee stock loans | 44 | |
Proceeds from the exercise of employee stock options | 317 | 123 |
Proceeds from employee stock purchase plan | 405 | |
Purchase of treasury stock | (10,867) | |
Net change in contractual obligations | (221) | (234) |
Net cash provided by (used in) financing activities | (110,413) | 159,204 |
Net change in cash and cash equivalents | (24,765) | 9,184 |
Cash and cash equivalents, beginning of period | 192,818 | 52,195 |
Ending cash and cash equivalents | 168,053 | 61,379 |
Supplemental cash flow information: | ||
Interest paid | 37,536 | 22,894 |
Income taxes paid, net of refunds | 1,786 | 7,281 |
Supplemental noncash disclosures: | ||
Other real estate owned acquired in settlement of loans | 906 | 1,408 |
Operating leases recognized | 3,546 | |
Eastman National Bancshares, Inc. [Member] | ||
Cash flows from (to) investing activities | ||
Cash paid for acquisition | (55) | |
MidFirst Bank [Member] | ||
Cash flows from (to) investing activities | ||
Net cash received from acquisition | 85,360 | |
Supplemental noncash disclosures: | ||
Total fair value of assets acquired, net of cash | 13,246 | |
Total fair value of liabilities acquired | $ 98,606 | |
Kansas Bank Corporation [Member] | ||
Cash flows from (to) investing activities | ||
Cash paid for acquisition | 12,774 | |
Supplemental noncash disclosures: | ||
Total fair value of assets acquired, net of cash | 294,215 | |
Total fair value of liabilities acquired | 289,103 | |
Adams Dairy Bancshares, Inc. [Member] | ||
Cash flows from (to) investing activities | ||
Cash paid for acquisition | (1,385) | |
Supplemental noncash disclosures: | ||
Total fair value of assets acquired, net of cash | 108,545 | |
Total fair value of liabilities acquired | 102,406 | |
City Bank and Trust Company [Member] | ||
Cash flows from (to) investing activities | ||
Cash paid for acquisition | 8,759 | |
Supplemental noncash disclosures: | ||
Total fair value of assets acquired, net of cash | 129,758 | |
Total fair value of liabilities acquired | $ 144,353 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 – BASIS OF PRESENTATION The interim consolidated financial statements include the accounts of Equity Bancshares, Inc., its wholly owned subsidiaries, EBAC, LLC and Equity Bank and Equity Bank’s wholly owned subsidiaries, EBHQ, LLC and SA Holdings, Inc. These entities are collectively referred to as the “Company”. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial information. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are of a normal recurring nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2018, included in the Company’s Annual Report on Form 10-K filed with the SEC on March 20, 2019. Operating results for the three and nine months ended September 30, 2019, are not necessarily indicative of the results that may be expected for the year ending December 31, 2019, or any other period. Reclassifications Some items in prior financial statements were reclassified to conform to the current presentation. Management determined the items reclassified are immaterial to the consolidated financial statements taken as a whole and did not result in a change in equity or net income for the periods reported. Adoption of New Accounting Standards In February 2016, FASB issued ASU 2016-02, Leases, Leases – Targeted Improvements In March 2017, FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities In August 2018, FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software; Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. Recent Accounting Pronouncements In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses, In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other |
SECURITIES
SECURITIES | 9 Months Ended |
Sep. 30, 2019 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | NOTE 2 – SECURITIES The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are listed below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2019 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 152,068 $ 1,024 $ (412 ) $ 152,680 $ 152,068 $ 1,024 $ (412 ) $ 152,680 December 31, 2018 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 173,503 $ 12 $ (4,640 ) $ 168,875 $ 173,503 $ 12 $ (4,640 ) $ 168,875 The amortized cost and fair value of held-to-maturity securities and the related gross unrecognized gains and losses are listed in the following table. Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value September 30, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ 2,739 $ 25 $ (4 ) $ 2,760 Residential mortgage-backed (securities issued by government sponsored entities) 584,230 11,339 (681 ) 594,888 Corporate 22,992 366 (39 ) 23,319 Small Business Administration loan pools 1,478 37 — 1,515 State and political subdivisions 152,724 3,783 (23 ) 156,484 $ 764,163 $ 15,550 $ (747 ) $ 778,966 December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 3,873 $ 7 $ (20 ) $ 3,860 Residential mortgage-backed (securities issued by government sponsored entities) 567,766 2,354 (9,653 ) 560,467 Corporate 22,993 234 (326 ) 22,901 Small Business Administration loan pools 1,746 — (18 ) 1,728 State and political subdivisions 151,978 804 (1,749 ) 151,033 $ 748,356 $ 3,399 $ (11,766 ) $ 739,989 The tables above present unrecognized gains and losses on held-to-maturity securities since date of designation. The fair value and amortized cost of debt securities at September 30, 2019, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ 15,851 $ 15,888 One to five years — — 33,321 34,018 Five to ten years — — 54,978 56,338 After ten years — — 75,783 77,834 Mortgage-backed securities 152,068 152,680 584,230 594,888 Total debt securities $ 152,068 $ 152,680 $ 764,163 $ 778,966 The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was approximately $750,299 at September 30, 2019 and $800,744 at December 31, 2018. The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss September 30, 2019 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 9,842 $ (12 ) $ 39,655 $ (400 ) $ 49,497 $ (412 ) Total temporarily impaired securities $ 9,842 $ (12 ) $ 39,655 $ (400 ) $ 49,497 $ (412 ) December 31, 2018 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Total temporarily impaired securities $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss September 30, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ — $ — $ 996 $ (4 ) $ 996 $ (4 ) Residential mortgage-backed (issued by government-sponsored entities) 19,383 (65 ) 128,867 (811 ) 148,250 (876 ) Corporate 7,840 (39 ) — — 7,840 (39 ) Small Business Administration loan pools 818 (8 ) — — 818 (8 ) State and political subdivisions 2,431 (4 ) 785 (2 ) 3,216 (6 ) Total temporarily impaired securities $ 30,472 $ (116 ) $ 130,648 $ (817 ) $ 161,120 $ (933 ) December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 1,882 $ (3 ) $ 982 $ (17 ) $ 2,864 $ (20 ) Residential mortgage-backed (issued by government-sponsored entities) 31,270 (356 ) 294,127 (10,579 ) 325,397 (10,935 ) Corporate 7,500 (326 ) 5,182 (49 ) 12,682 (375 ) Small Business Administration loan pools — — 1,728 (37 ) 1,728 (37 ) State and political subdivisions 40,415 (473 ) 45,137 (1,561 ) 85,552 (2,034 ) Total temporarily impaired securities $ 81,067 $ (1,158 ) $ 347,156 $ (12,243 ) $ 428,223 $ (13,401 ) The tables above present unrealized losses on held-to-maturity securities since the date of purchase, independent of the impact associated with changes in cost basis upon transfer from the available-for-sale designation to the held-to-maturity designation. As of September 30, 2019, the Company held 18 available-for-sale securities and 106 held-to-maturity securities in an unrealized loss position. Unrealized losses on securities have not been recognized into income because the security issuers are of high credit quality, management does not intend to sell and it is more likely than not that the Company will not be required to sell the securities prior to their anticipated recovery and the decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the securities approach maturity. The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed in the table below. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Proceeds $ — $ — $ — $ 33,419 Gross gains — — — — Gross losses — — — — Income tax expense on net realized gains — — — — |
LOANS AND ALLOWANCE FOR LOAN LO
LOANS AND ALLOWANCE FOR LOAN LOSSES | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | NOTE 3 – LOANS AND ALLOWANCE FOR LOAN LOSSES The following table lists categories of loans at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Commercial real estate $ 1,183,305 $ 1,231,217 Commercial and industrial 585,797 601,782 Residential real estate 531,257 446,060 Agricultural real estate 143,718 139,332 Consumer 70,944 62,894 Agricultural 85,903 94,123 Total loans 2,600,924 2,575,408 Allowance for loan losses (17,875 ) (11,454 ) Net loans $ 2,583,049 $ 2,563,954 From time to time, the Company has purchased pools of residential real estate loans originated by other financial institutions to hold for investment with the intent to diversify the residential real estate portfolio. During the first nine months of 2019, the Company purchased eight pools of residential real estate loans totaling $130,502. As of September 30, 2019 and December 31, 2018, residential real estate loans include $161,548 and $64,558 of purchased residential real estate loans. The unamortized balance of merger purchase accounting adjustments related to non-purchase credit impaired loans included in the loan totals above are $8,990 with related loans of $666,671 at September 30, 2019, and $11,372 with related loans of $827,676 at December 31, 2018. Overdraft deposit accounts are reclassified and included in consumer loans above. These accounts totaled $916 at September 30, 2019 and $1,279 at December 31, 2018. The following tables present the activity in the allowance for loan losses by class for the three-month periods ended September 30, 2019 and 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,712 $ 7,948 $ 2,908 $ 525 $ 1,344 $ 340 $ 17,777 Provision for loan losses 396 49 (324 ) 131 241 186 679 Loans charged-off (506 ) (18 ) (355 ) (9 ) (313 ) (5 ) (1,206 ) Recoveries 47 17 450 38 73 — 625 Total ending allowance balance $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 September 30, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 3,495 $ 2,254 $ 2,663 $ 334 $ 983 $ 354 $ 10,083 Provision for loan losses 734 287 (20 ) 28 330 (68 ) 1,291 Loans charged-off (90 ) (3 ) (91 ) (13 ) (526 ) — (723 ) Recoveries 11 22 56 13 256 1 359 Total ending allowance balance $ 4,150 $ 2,560 $ 2,608 $ 362 $ 1,043 $ 287 $ 11,010 The following tables present the activity in the allowance for loan losses by class for the nine-month periods ended September 30, 2019 and 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Provision for loan losses 981 13,979 805 299 973 262 17,299 Loans charged-off (1,114 ) (8,756 ) (934 ) (43 ) (994 ) (47 ) (11,888 ) Recoveries 120 66 488 38 296 2 1,010 Total ending allowance balance $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 September 30, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 Provision for loan losses 1,241 483 455 120 865 47 3,211 Loans charged-off (119 ) (89 ) (362 ) (93 ) (1,035 ) (43 ) (1,741 ) Recoveries 288 30 253 16 445 10 1,042 Total ending allowance balance $ 4,150 $ 2,560 $ 2,608 $ 362 $ 1,043 $ 287 $ 11,010 The following tables present the recorded investment in loans and the balance in the allowance for loan losses by portfolio and class based on impairment method as of September 30, 2019 and December 31, 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 436 $ 5,238 $ 364 $ 157 $ 63 $ 101 $ 6,359 Collectively evaluated for impairment 3,343 2,744 2,293 430 1,282 325 10,417 Purchased credit impaired loans 870 14 22 98 — 95 1,099 Total $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 Loan Balance: Individually evaluated for impairment $ 5,327 $ 21,341 $ 8,682 $ 1,115 $ 624 $ 749 $ 37,838 Collectively evaluated for impairment 1,165,740 558,958 519,818 137,063 70,292 83,044 2,534,915 Purchased credit impaired loans 12,238 5,498 2,757 5,540 28 2,110 28,171 Total $ 1,183,305 $ 585,797 $ 531,257 $ 143,718 $ 70,944 $ 85,903 $ 2,600,924 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 242 $ 185 $ 391 $ 22 $ 62 $ 10 $ 912 Collectively evaluated for impairment 3,695 2,493 1,861 367 925 293 9,634 Purchased credit impaired loans 725 29 68 2 83 1 908 Total $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Loan Balance: Individually evaluated for impairment $ 4,068 $ 24,275 $ 4,434 $ 856 $ 678 $ 2,252 $ 36,563 Collectively evaluated for impairment 1,213,653 571,171 438,739 133,415 61,978 89,194 2,508,150 Purchased credit impaired loans 13,496 6,336 2,887 5,061 238 2,677 30,695 Total $ 1,231,217 $ 601,782 $ 446,060 $ 139,332 $ 62,894 $ 94,123 $ 2,575,408 The following table presents information related to impaired loans, excluding purchased credit impaired loans which have not deteriorated since acquisition, by class of loans as of September 30, 2019 and December 31, 2018. The recorded investment in loans excludes accrued interest receivable due to immateriality. September 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no related allowance recorded: Commercial real estate $ 3,287 $ 2,962 $ — $ 1,685 $ 1,647 $ — Commercial and industrial 557 546 — 22,701 22,651 — Residential real estate 5,072 5,040 — 533 527 — Agricultural real estate 964 933 — 2,038 2,035 — Consumer 32 — — 61 55 — Agricultural — — — 756 756 — Subtotal 9,912 9,481 — 27,774 27,671 — With an allowance recorded: Commercial real estate 8,434 6,830 1,305 8,700 7,179 967 Commercial and industrial 21,108 20,933 5,252 2,255 1,911 214 Residential real estate 4,073 3,859 387 4,934 4,582 459 Agricultural real estate 1,560 1,439 255 261 242 24 Consumer 689 624 63 1,144 859 145 Agricultural 1,843 1,591 196 162 106 11 Subtotal 37,707 35,276 7,458 17,456 14,879 1,820 Total $ 47,619 $ 44,757 $ 7,458 $ 45,230 $ 42,550 $ 1,820 The tables below present average recorded investment and interest income related to impaired loans for the three and nine months ended September 30, 2019 and 2018. Interest income recognized in the following table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. As of and for the three months ended September 30, 2019 September 30, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 3,327 $ 3 $ 1,938 $ 14 Commercial and industrial 808 — 4,664 — Residential real estate 7,800 19 918 6 Agricultural real estate 1,750 — 2,299 6 Consumer 15 — 53 — Agricultural 161 — 417 — Subtotal 13,861 22 10,289 26 With an allowance recorded: Commercial real estate 7,032 — 2,463 79 Commercial and industrial 21,066 9 856 16 Residential real estate 3,891 20 4,309 16 Agricultural real estate 1,296 2 264 — Consumer 728 4 480 1 Agricultural 1,128 — 143 — Subtotal 35,141 35 8,515 112 Total $ 49,002 $ 57 $ 18,804 $ 138 As of and for the nine months ended September 30, 2019 September 30, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 7,427 $ 82 $ 1,840 $ 132 Commercial and industrial 2,064 5 6,188 66 Residential real estate 4,161 50 798 16 Agricultural real estate 1,804 — 1,196 18 Consumer 31 — 26 — Agricultural 300 — 324 18 Subtotal 15,787 137 10,372 250 With an allowance recorded: Commercial real estate 7,140 74 1,847 81 Commercial and industrial 18,528 12 858 16 Residential real estate 6,965 28 4,090 38 Agricultural real estate 907 2 476 2 Consumer 772 9 495 4 Agricultural 663 2 496 4 Subtotal 34,975 127 8,262 145 Total $ 50,762 $ 264 $ 18,634 $ 395 The following tables present the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018, by portfolio and class of loans. September 30, 2019 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 2,514 $ 704 $ — $ 12,311 $ 1,167,776 $ 1,183,305 Commercial and industrial 413 315 — 21,945 563,124 585,797 Residential real estate 779 1,582 3 9,342 519,551 531,257 Agricultural real estate 67 46 — 5,206 138,399 143,718 Consumer 246 147 49 624 69,878 70,944 Agricultural 73 — — 1,591 84,239 85,903 Total $ 4,092 $ 2,794 $ 52 $ 51,019 $ 2,542,967 $ 2,600,924 December 31, 2018 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,302 $ 259 $ — $ 12,768 $ 1,216,888 $ 1,231,217 Commercial and industrial 509 2,467 — 6,954 591,852 601,782 Residential real estate 782 2,188 18 5,257 437,815 446,060 Agricultural real estate — 30 — 4,857 134,445 139,332 Consumer 501 157 — 914 61,322 62,894 Agricultural 186 3 — 2,453 91,481 94,123 Total $ 3,280 $ 5,104 $ 18 $ 33,203 $ 2,533,803 $ 2,575,408 Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. Consumer loans are considered pass credits unless downgraded due to payment status or reviewed as part of a larger credit relationship. The Company uses the following definitions for risk ratings. Pass: Special Mention Substandard Doubtful The risk category of loans by class of loans is as follows as of September 30, 2019 and December 31, 2018. September 30, 2019 Unclassified Classified Total Commercial real estate $ 1,165,707 $ 17,598 $ 1,183,305 Commercial and industrial 535,939 49,858 585,797 Residential real estate 521,906 9,351 531,257 Agricultural real estate 130,920 12,798 143,718 Consumer 70,320 624 70,944 Agricultural 80,259 5,644 85,903 Total $ 2,505,051 $ 95,873 $ 2,600,924 December 31, 2018 Unclassified Classified Total Commercial real estate $ 1,194,240 $ 36,977 $ 1,231,217 Commercial and industrial 572,300 29,482 601,782 Residential real estate 440,704 5,356 446,060 Agricultural real estate 129,285 10,047 139,332 Consumer 61,976 918 62,894 Agricultural 90,848 3,275 94,123 Total $ 2,489,353 $ 86,055 $ 2,575,408 Purchased Credit Impaired Loans The Company has acquired loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The table below lists recorded investments in purchased credit impaired loans as of September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Contractually required principal payments $ 36,150 $ 40,772 Discount (7,979 ) (10,077 ) Recorded investment $ 28,171 $ 30,695 The accretable yield associated with these loans was $3,758 and $3,785 as of September 30, 2019 and December 31, 2018. The interest income recognized on these loans for the three-month periods ended September 30, 2019, and 2018, was $1,479 and $631. The interest income recognized on these loans for the nine-month periods ended September 30, 2019, and 2018, was $2,011 and $2,009. For the three and nine-month periods ended September 30, 2019, there was a provision for loan losses of $28 and $191 recorded for these loans. For the three and nine-month periods ended September 30, 2018, there was a provision for loan losses of $612 and $466 for these loans. Troubled Debt Restructurings The Company had no loans modified under troubled debt restructurings as of September 30, 2019 or December 31, 2018. |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | NOTE 4 – DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to interest-rate risk primarily from the effect of interest rate changes on its interest-earning assets and its sources of funding these assets. The Company will periodically enter into interest rate swaps or interest rate caps/floors to manage certain interest rate risk exposure. Interest Rate Swaps Designated as Fair Value Hedges The Company periodically enters into interest rate swaps to hedge the fair value of certain commercial real estate loans. These transactions are designated as fair value hedges. In this type of transaction, the Company typically receives from the counterparty a variable-rate cash flow based on the one-month London Interbank Offered Rate (“LIBOR”) plus a spread to this index and pays a fixed-rate cash flow equal to the customer loan rate. At September 30, 2019, the portfolio of interest rate swaps had a weighted average maturity of 7.5 years, a weighted average pay rate of 5.19% and a weighted average rate received of 5.10%. At December 31, 2018, the portfolio of interest rate swaps had a weighted average maturity of 7.7 years, a weighted average pay rate of 4.94% and a weighted average rate received of 5.10%. Stand-Alone Derivatives The Company periodically enters into interest rate swaps with our borrowers and simultaneously enters into swaps with a counterparty with offsetting terms for the purpose of providing our borrowers long-term fixed rate loans. Neither swap is designated as a hedge and both are marked to market through earnings. At September 30, 2019, this portfolio of interest rate swaps had a weighted average maturity of 9.0 years, weighted average pay rate of 5.04% and a weighted average rate received of 5.04%. At December 31, 2018, this portfolio of interest rate swaps had a weighted average maturity of 7.6 years, weighted average pay rate of 5.18% and weighted average rate received of 5.18%. In 2009, the Company purchased an interest rate cap derivative to assist with interest rate risk management. This derivative is not designated as a hedging instrument but rather as a stand-alone derivative. At September 30, 2019, the interest rate cap had a term of 0.1 years and a cap rate of 4.50%. At December 31, 2018, the interest rate cap had a term of 0.9 years and a cap rate of 4.50%. Reconciliation of Derivative Fair Values and Gains/(Losses) The notional amount of a derivative contract is a factor in determining periodic interest payments or cash flows received or paid. The notional amount of derivatives serves as a level of involvement in various types of derivatives. The notional amount does not represent the Company’s overall exposure to credit or market risk, generally, the exposure is significantly smaller. The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 5,848 $ 3 $ 251 $ 16,743 $ 242 $ — Total derivatives designated as hedging relationships 5,848 3 251 16,743 242 — Derivatives not designated as hedging instruments: Interest rate swaps 114,835 4,536 5,125 38,073 690 777 Interest rate caps/floors 2,046 — — 2,264 1 — Total derivatives not designated as hedging instruments 116,881 4,536 5,125 40,337 691 777 Total $ 122,729 4,539 5,376 $ 57,080 933 777 Cash collateral — (5,740 ) (531 ) (541 ) Netting adjustments 364 364 289 289 Net amount presented in Balance Sheet $ 4,903 $ — $ 691 $ 525 The table below lists designated and qualifying hedged items in fair value hedges at September 30, 2019. September 30, 2019 Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Commercial real estate loans $ 6,094 $ 248 $ — Total $ 6,094 $ 248 $ — Prior to the implementation of ASU 2017-12, derivative gains/(losses) for derivatives in hedging relationships were reported in other income as hedge ineffectiveness; net interest settlements on those derivatives were recorded to loan interest income; and derivative gains/(losses) and the related net interest settlements for economic derivatives were reported in other income. The Company implemented ASU 2017-12 effective January 1, 2019, and currently reports hedging derivative gains/(losses) as adjustments to loan interest income along with the related net interest settlements; and the derivative gains/(losses) and net interest settlements for economic derivatives are reported in other income. For the three and nine-month periods ended September 30, 2019 and 2018, the Company recorded net gains/(losses) on derivatives and hedging activities. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Derivatives designated as hedging instruments: Interest rate swaps $ — $ — $ — $ — Total net gain (loss) related to fair value hedge ineffectiveness — — — — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps (180 ) 82 (501 ) 82 Interest rate caps/floors — — (1 ) — Total net gains (losses) related to derivatives not designated as hedging instruments (180 ) 82 (502 ) 82 Net gains (losses) on derivatives and hedging activities $ (180 ) $ 82 $ (502 ) $ 82 The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the three-month periods ended September 30, 2019 and 2018. September 30, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 307 $ (307 ) $ — $ 2 Total $ 307 $ (307 ) $ — $ 2 September 30, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 157 $ (157 ) $ — $ (6 ) Total $ 157 $ (157 ) $ — $ (6 ) The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the nine-month periods ended September 30, 2019 and 2018. September 30, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ (489 ) $ 489 $ — $ 21 Total $ (489 ) $ 489 $ — $ 21 September 30, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 740 $ (740 ) $ — $ (44 ) Total $ 740 $ (740 ) $ — $ (44 ) |
LEASE OBLIGATIONS
LEASE OBLIGATIONS | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
LEASE OBLIGATIONS | NOTE 5 – LEASE OBLIGATIONS The Company evaluates contracts that convey the right to control the use of identified property, plant or equipment for a period of time for consideration to determine if they are lease obligations. The Company evaluates each lease component to determine if the lease qualifies as a financing lease or as an operating lease. Leases that meet any of the following criteria are considered financing leases: (1) the lease transfers ownership of the underlying asset by the end of the lease term; (2) the lease grants the Company an option to purchase the underlying asset that the Company is reasonably certain to exercise; (3) the lease term is the major part of the remaining economic life of the underlying asset; (4) the present value of the sum of the lease payments and any residual value guaranteed by the Company that is not already reflected in lease payments equals or exceeds substantially all of the fair value of the underlying asset; or (5) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. If none of the financing lease criteria are met, the lease is considered an operating lease. The Company evaluates each lease to determine the lease term which will be used based on the type and use of the leased equipment and future expected changes in operations. The resulting lease term will consist of the noncancellable period for which the Company has the right to use the underlying asset plus (1) periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option; (2) periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option; and (3) periods covered by an option to extend the lease in which exercise of the option is controlled by the lessor. The Company has certain leases that contain options to extend the lease and contain options for changes in lease payments which are evaluated by the Company to determine the recorded values for right-of-use assets and lease liability. Lease payments that are contractually known at lease inception are used by the Company for calculating the right-of-use asset and lease liability. Lease payments that vary because of facts or circumstances after the commencement date of the lease from other than passage of time are treated as variable lease payments and are recorded to lease expense in the period in which the obligation for the payments are incurred by the Company. Variable lease payments are not part of the lease payments for determining the right-of-use asset or the lease liability at the lease commencement date. The discount rate to initially determine the present value of the lease payments is based on the information available at the lease commencement date and is either the rate implicit in the lease or the Company’s incremental borrowing rate. If the rate implicit in the lease is known or determinable, that rate shall be used. If that rate is not known, the Company’s incremental borrowing rate shall be used. At the January 1, 2019, implementation of this accounting guidance, the Company’s incremental borrowing rate based on the remaining lease term was used to calculate the right-of-use assets and operating lease liabilities. Operating lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset over the lease term on a straight-line method while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Operating lease right-of-use asset amortization and lease obligation interest are reported in non-interest expense in the Consolidated Statements of Operations. Operating lease payments and variable lease payments are reflected within cash flows from operating activities in the Consolidated Statements of Cash Flows. Financing lease right-of-use assets and lease obligations are accounted for subsequent to initial recording by amortizing the right-of-use asset similar to owned assets over the lesser of the lease term or economic life of the asset if the lease transfers ownership of the leased asset while the lease obligation is increased by the accrual of interest and decreased by subsequent lease payments. Financing lease right-of-use asset amortization is reported in non-interest expense, similar to other owned assets, and lease obligation interest accruals are reported in interest expense in the Consolidated Statements of Operations. Financing lease obligation principal payments are reflected within cash flows from financing activities and interest payments and variable lease payments are reflected with the cash flows from operating activities in the Consolidated Statements of Cash Flows. At September 30, 2019, the Company had lease liabilities totaling $3,031 and right-of-use assets totaling $3,075 related to these leases. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets. Right-of-use asset and lease obligations by type of property are listed below. September 30, 2019 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 3,048 $ 2,998 13.9 3.08 % Equipment leases 27 33 2.3 2.59 % Total operating leases $ 3,075 $ 3,031 13.8 3.08 % Operating lease costs are listed below. Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 185 $ 540 Short-term lease cost — — Variable lease cost 12 35 Total operating lease cost $ 197 $ 575 Rent expense for the three and nine-month periods ending September 30, 2018, prior to the adoption of ASU 2016-02, were $189 and $512. There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the three or nine-month periods ended September 30, 2019. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is listed below. Lease Payments September 30, 2019 Due in one year or less $ 628 Due after one year through two years 488 Due after two years through three years 431 Due after three years through four years 357 Due after four years through five years 163 Thereafter 1,815 Total undiscounted cash flows 3,882 Discount on cash flows (851 ) Total operating lease liability $ 3,031 |
BORROWINGS
BORROWINGS | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
BORROWINGS | NOTE 6 – BORROWINGS Federal funds purchased and retail repurchase agreements Federal funds purchased and retail repurchase agreements as of September 30, 2019 and December 31, 2018 are listed below. September 30, 2019 December 31, 2018 Federal funds purchased $ — $ — Retail repurchase agreements 40,652 50,068 The Company has available federal funds lines of credit with its correspondent banks. Securities sold under agreements to repurchase (retail repurchase agreements) consist of obligations of the Company to other parties. The obligations are secured by residential mortgage-backed securities held by the Company with a fair value of $49,571 and $51,701 at September 30, 2019 and December 31, 2018. The agreements are on a day-to-day basis and can be terminated on demand. September 30, 2019 December 31, 2018 Year-to-date average daily balance during the period $ 43,054 $ 43,536 Maximum month-end balance year-to-date $ 45,575 $ 53,815 Weighted average interest rate at period-end 0.46 % 0.28 % Federal Home Loan Bank advances Federal Home Loan Bank advances as of September 30, 2019 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ 396,223 2.20 % — Federal Home Loan Bank fixed-rate term advances 13,809 2.80 % 2.8 Total principal outstanding 410,032 Merger purchase accounting adjustment 61 Total Federal Home Loan Bank advances $ 410,093 Federal Home Loan Bank advances as of December 31, 2018 are listed below. December 31, 2018 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ 368,770 2.65 % — Federal Home Loan Bank fixed-rate term advances 16,049 2.81 % 3.1 Total principal outstanding 384,819 Merger purchase accounting adjustment 79 Total Federal Home Loan Bank advances $ 384,898 The advances, Mortgage Partnership Finance credit enhancement obligations and letters of credit were collateralized by certain qualifying loans totaling $864,569 and $951,196 at September 30, 2019 and December 31, 2018. Based on this collateral and the Company’s holdings of Federal Home Loan Bank stock, the Company was eligible to borrow an additional $415,089 and $534,627 at September 30, 2019 and December 31, 2018. Future principal repayments of the September 30, 2019 outstanding balances are as follows. Due in one year or less $ 399,211 Due after one year through two years 2,357 Due after two years through three years 2,357 Due after three years through four years 2,357 Due after four years through five years 2,107 Thereafter 1,643 Total $ 410,032 Bank stock loan On March 13, 2017, the Company entered into an agreement with an unaffiliated financial institution that provided for a maximum borrowing facility of $30,000, secured by the Company’s stock in Equity Bank. The borrowing facility was amended on March 11, 2019 to provide a maximum borrowing facility of $40,000 and extend the maturity to May 15, 2020. Each draw of funds on the facility will create a separate note that is repayable over a term of five years. Each note will bear interest at a variable interest rate equal to the prime rate published in the “Money Rates” section of The Wall Street Journal Bank stock loan advances as of September 30, 2019 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years Bank stock loan $ 14,770 5.00 % 4.2 Bank stock loan advances as of December 31, 2018 are listed below. December 31, 2018 Weighted Average Rate Weighted Average Term in Years Bank stock loan $ 15,450 5.50 % 4.5 Future principal repayments of the September 30, 2019 outstanding balances are as follows. Due in one year or less $ 2,326 Due after one year through two years 2,326 Due after two years through three years 2,326 Due after three years through four years 3,626 Due after four years through five years 4,166 Thereafter — Total $ 14,770 The terms of the borrowing facility require the Company and Equity Bank to maintain minimum capital ratios and other covenants. In the event of default, the lender has the option to declare all outstanding balances immediately due. The Company believes it is in compliance with the terms of the borrowing facility and has not been otherwise notified of noncompliance. Subordinated Debentures In conjunction with prior acquisitions, the Company assumed certain subordinated debentures owed to special purpose unconsolidated subsidiaries that are controlled by the Company. FCB Capital Trust II (“CTII”): The trust preferred securities issued by CTII accrue and pay distributions quarterly at three-month LIBOR plus 2.00% on the stated liquidation amount of the trust securities. These trust preferred securities are mandatorily redeemable upon maturity on April 15, 2035, or upon earlier redemption. FCB Capital Trust III (“CTIII”): The trust preferred securities issued by CTIII accrue and pay distributions quarterly at three-month LIBOR plus 1.89% on the stated liquidation amount of the trust securities. These trust preferred securities are mandatorily redeemable upon maturity on June 15, 2037, or upon earlier redemption. Community First (AR) Statutory Trust I (“CFSTI”): The trust preferred securities issued by CFSTI accrue and pay distributions quarterly at three-month LIBOR plus 3.25% on the stated liquidation amount of the trust securities. These trust preferred securities are mandatorily redeemable upon maturity on December 26, 2032, or upon earlier redemption. Subordinated debentures as of September 30, 2019 and December 31, 2018 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 4.30 % 15.6 CTIII subordinated debentures 5,155 4.01 % 17.7 CFSTI subordinated debentures 5,155 5.36 % 13.2 Total contractual balance 20,620 Fair market value adjustments (6,135 ) Total subordinated debentures $ 14,485 December 31, 2018 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 4.44 % 16.3 CTIII subordinated debentures 5,155 4.68 % 18.5 CFSTI subordinated debentures 5,155 6.07 % 14.0 Total contractual balance 20,620 Fair market value adjustments (6,360 ) Total subordinated debentures $ 14,260 |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 7 – STOCKHOLDERS’ EQUITY Preferred stock The Company’s articles of incorporation provide for the issuance of 10,000,000 shares of preferred stock. At September 30, 2019 and December 31, 2018, there was no preferred stock outstanding. Common stock The Company’s articles of incorporation provide for the issuance of 45,000,000 shares of Class A voting common stock (“Class A common stock”) and 5,000,000 shares of Class B non-voting common stock (“Class B common stock”), both of which have a par value of $0.01. The following table presents shares that were issued and were held in treasury or were outstanding at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Class A common stock – issued 17,132,393 17,064,138 Class A common stock – held in treasury (1,692,059 ) (1,271,043 ) Class A common stock – outstanding 15,440,334 15,793,095 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — On January 27, 2019, the Company’s Board of Directors adopted the Equity Bancshares, Inc. 2019 Employee Stock Purchase Plan (“ESPP”) and reserved 500,000 shares of common stock for issuance. The ESPP was approved by the Company’s stockholders on April 24, 2019. The ESPP enables eligible employees to purchase the Company’s common stock at a price per share equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each offering period. The first offering period began on February 15, 2019, and ended on August 14, 2019. In connection with the first offering, a total of 19,221 shares were purchased at a price of $21.07 per share. The second offering period began August 15, 2019, and will end February 14, 2020. ESPP compensation expense of $27 and $89 was recorded for the three and nine-month periods ended September 30, 2019. Treasury stock is stated at cost, determined by the first-in, first-out method. On April 18, 2019, the Company’s Board of Directors authorized the repurchase of up to 1,100,000 shares of the Company’s outstanding common stock, from time to time, beginning April 29, 2019 and concluding October 30, 2020. The repurchase program does not obligate the Company to acquire a specific dollar amount or number of shares and it may be extended, modified or discontinued at any time without notice. Under this program, during the third quarter of 2019, the Company repurchased a total of 143,210 shares of the Company’s outstanding common stock at an average price paid of $25.55 per share. A total of 421,016 shares have been purchased pursuant to the repurchase program at an average price paid of $25.81. Employee stock loans In May 2015, in connection with the termination of a discontinued restricted stock unit plan (“Plan”), the Company agreed to loan electing participants an amount equal to each participant’s federal and state income tax withholding obligation associated with the Plan termination. These loans totaling $77 at September 30, 2019 and $121 at December 31, 2018, are collateralized with the shares received, have a maturity date of December 31, 2019 and have an interest rate of 2.72%. Accumulated other comprehensive income (loss) At September 30, 2019 and December 31, 2018, accumulated other comprehensive income (loss) consisted of (i) the after-tax effect of unrealized gains (losses) on available-for-sale securities and (ii) the after-tax effect of unamortized unrealized gains (losses) on securities transferred from the available-for-sale designation to the held-to-maturity designation. Components of accumulated other comprehensive income (loss) as of September 30, 2019 and December 31, 2018, are listed below. Available-for- Sale Securities Held-to- Maturity Securities Accumulated Other Comprehensive Income (Loss) September 30, 2019 Net unrealized or unamortized gains (losses) $ 612 $ (1,177 ) $ (565 ) Tax effect (154 ) 296 142 $ 458 $ (881 ) $ (423 ) December 31, 2018 Net unrealized or unamortized gains (losses) $ (4,628 ) $ (1,891 ) $ (6,519 ) Tax effect 1,173 479 1,652 $ (3,455 ) $ (1,412 ) $ (4,867 ) |
REGULATORY MATTERS
REGULATORY MATTERS | 9 Months Ended |
Sep. 30, 2019 | |
Banking And Thrift [Abstract] | |
REGULATORY MATTERS | NOTE 8 – REGULATORY MATTERS Banks and bank holding companies (on a consolidated basis) are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. Beginning in January 2016, the implementation of the capital conservation buffer was effective for the Company starting at the 0.625% level and increasing 0.625% each year thereafter, until it reached 2.5% on January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress and requires increased capital levels for the purpose of capital distributions and other payments. Failure to meet the full amount of the buffer will result in restrictions on the Company's ability to make capital distributions, including dividend payments and stock repurchases, and to pay discretionary bonuses to executive officers. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as are asset growth and acquisitions, and capital restoration plans are required. As of September 30, 2019, management believes that the Company meets all capital adequacy requirements to which they are subject and the most recent notifications from the federal regulatory agencies categorized Equity Bank as well capitalized under the regulatory framework for prompt corrective action, including the capital conservation buffer. To be categorized as well capitalized, Equity Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed Equity Bank’s category. The Company’s and Equity Bank’s capital amounts and ratios at September 30, 2019 and December 31, 2018 are presented in the table below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2019 Total capital to risk weighted assets Equity Bancshares, Inc. $ 347,082 12.21 % $ 298,357 10.50 % $ 298,357 10.50 % $ N/A N/A Equity Bank 342,244 12.06 % 298,044 10.50 % 298,044 10.50 % 283,851 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 329,207 11.59 % 241,527 8.50 % 241,527 8.50 % N/A N/A Equity Bank 324,369 11.43 % 241,274 8.50 % 241,274 8.50 % 227,081 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 314,722 11.08 % 198,905 7.00 % 198,905 7.00 % N/A N/A Equity Bank 324,369 11.43 % 198,696 7.00 % 198,696 7.00 % 184,503 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 329,207 8.49 % 155,020 4.00 % 155,020 4.00 % N/A N/A Equity Bank 324,369 8.38 % 154,778 4.00 % 154,778 4.00 % 193,473 5.00 % December 31, 2018 Total capital to risk weighted assets Equity Bancshares, Inc. $ 337,649 11.86 % $ 281,222 9.88 % $ 299,021 10.50 % $ N/A N/A Equity Bank 338,180 11.89 % 280,845 9.88 % 298,619 10.50 % 284,400 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,195 11.45 % 224,266 7.88 % 242,065 8.50 % N/A N/A Equity Bank 326,726 11.49 % 223,965 7.88 % 241,740 8.50 % 227,520 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 311,935 10.95 % 181,548 6.38 % 199,347 7.00 % N/A N/A Equity Bank 326,726 11.49 % 181,305 6.38 % 199,080 7.00 % 184,860 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 326,195 8.60 % 151,731 4.00 % 151,731 4.00 % N/A N/A Equity Bank 326,726 8.62 % 151,590 4.00 % 151,590 4.00 % 189,488 5.00 % Equity Bank is subject to certain restrictions on the amount of dividends that it may declare without prior regulatory approval. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 9 – EARNINGS PER SHARE The following table presents earnings per share for the three and nine-month periods ended September 30, 2019 and 2018. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Basic: Net income allocable to common stockholders $ 10,406 $ 10,322 $ 15,565 $ 25,900 Weighted average common shares outstanding 15,513,969 15,787,760 15,677,972 15,253,589 Weighted average vested restricted stock units 73 1,692 1,584 5,887 Weighted average shares 15,514,042 15,789,452 15,679,556 15,259,476 Basic earnings per common share $ 0.67 $ 0.65 $ 0.99 $ 1.70 Diluted: Net income allocable to common stockholders $ 10,406 $ 10,322 $ 15,565 $ 25,900 Weighted average common shares outstanding for: Basic earnings per common share 15,514,042 15,789,452 15,679,556 15,259,476 Dilutive effects of the assumed exercise of stock options 178,285 316,181 201,024 300,171 Dilutive effects of the assumed vesting of restricted stock units 15,711 30,974 16,025 18,370 Average shares and dilutive potential common shares 15,708,038 16,136,607 15,896,605 15,578,017 Diluted earnings per common share $ 0.66 $ 0.64 $ 0.98 $ 1.66 Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Stock options 347,528 35,305 315,522 23,425 Restricted stock units 141,693 — 2,197 — Total antidilutive shares 489,221 35,305 317,719 23,425 |
FAIR VALUE
FAIR VALUE | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE 10 – FAIR VALUE The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. For disclosure purposes, the Company groups its financial and non-financial assets and liabilities into three different levels based on the nature of the instrument and the availability and reliability of the information that is used to determine fair value. The three levels of inputs that may be used to measure fair values are defined as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Level 1 inputs are considered to be the most transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (Level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. Although, in some instances, third party price indications may be available, limited trading activity can challenge the implied value of those quotations. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of each instrument under the hierarchy: Fair Value of Assets and Liabilities Measured on a Recurring Basis The fair values of securities available-for-sale and equity securities with readily determinable fair value are carried at fair value on a recurring basis. To the extent possible, observable quoted prices in an active market are used to determine fair value and, as such, these securities are classified as Level 1. For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities, generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Company’s available-for-sale securities, including U.S. Government sponsored entity securities, residential mortgage-backed securities (all of which are issued or guaranteed by government sponsored agencies), corporate securities, Small Business Administration securities, and State and Political Subdivision securities are classified as Level 2. The fair values of derivatives are determined based on a valuation pricing model using readily available observable market parameters such as interest rate yield curves (Level 2 inputs) adjusted for credit risk attributable to the seller of the interest rate derivative. Cash collateral received from or delivered to a derivative counterparty is classified as Level 1. Assets and liabilities measured at fair value on a recurring basis are summarized in the following table. September 30, 2019 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 152,680 $ — Derivative assets: Derivative assets (included in other assets) — 4,539 — Cash collateral held by counterparty and netting adjustments 364 — — Total derivative assets 364 4,539 — Other assets: Equity securities with readily determinable fair value 492 — — Total other assets 492 — — Total assets $ 856 $ 157,219 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 5,376 $ — Cash collateral held by counterparty and netting adjustments (5,376 ) — — Total derivative liabilities (5,376 ) 5,376 — Total liabilities $ (5,376 ) $ 5,376 $ — December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 168,875 $ — Derivative assets: Derivative assets (included in other assets) — 933 — Cash collateral held by counterparty and netting adjustments (242 ) — — Total derivative assets (242 ) 933 — Other assets: Equity securities with readily determinable fair value 475 — — Total other assets 475 — — Total assets $ 233 $ 169,808 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 777 $ — Cash collateral held by counterparty (252 ) — — Total derivative liabilities (252 ) 777 — Total liabilities $ (252 ) $ 777 $ — There were no material transfers between levels during the nine months ended September 30, 2019 or the year ended December 31, 2018. The Company’s policy is to recognize transfers into or out of a level as of the end of a reporting period. Fair Value of Assets and Liabilities Measured on a Non-recurring Basis Certain assets are measured at fair value on a non-recurring basis when there is evidence of impairment. The fair value of impaired securities is determined as discussed previously for available-for-sale securities. The fair values of impaired loans with specific allocations of the allowance for loan losses are generally based on recent real estate appraisals of the collateral less estimated cost to sell. Declines in the fair values of other real estate owned subsequent to their initial acquisitions are also based on recent real estate appraisals less selling costs. Real estate appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. We routinely value loans other than real estate as multiples of earnings or with the discounted cash flow approach and adjustments are made to observable market data to make the valuation consistent with the underlying credit. Such adjustments made to real estate appraisals and other loan valuations are typically significant and result in a Level 3 classification of the inputs for determining fair value. Assets measured at fair value on a non-recurring basis are summarized below. September 30, 2019 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 5,525 Commercial and industrial — — 15,681 Residential real estate — — 3,472 Agricultural real estate — — 1,184 Other — — 1,956 Other real estate owned: Commercial real estate — — 1,667 Residential real estate — — 33 December 31, 2018 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 6,212 Commercial and industrial — — 1,697 Residential real estate — — 4,123 Agricultural real estate — — 218 Other — — 809 Other real estate owned: Commercial real estate — — 1,391 Residential real estate — — 97 The Company did not record any liabilities for which the fair value was measured on a non-recurring basis at September 30, 2019 or at December 31, 2018. Valuations of impaired loans and other real estate owned utilize third party appraisals or broker price opinions and were classified as Level 3 due to the significant judgment involved. Appraisals may include the utilization of unobservable inputs, subjective factors and quantitative data to estimate fair market value. The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy. Fair Value Valuation Technique Unobservable Input Range (weighted September 30, 2019 Impaired real estate loans $ 13,553 Sales Approach Adjustments for differences comparable sales 9% - 26% (17%) Impaired other loans $ 14,265 Multiple of Earnings Multiples of earnings for comparable entities 5.3X December 31, 2018 Impaired loans $ 13,059 Sales Approach Adjustments for differences comparable sales 4% - 22% (13%) Measurable inputs for other real estate owned were not material. Carrying amount and estimated fair values of financial instruments at period end were as follows. September 30, 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 168,053 $ 168,053 $ 168,053 $ — $ — Interest-bearing time deposits in other banks 3,497 3,497 — 3,497 — Available-for-sale securities 152,680 152,680 — 152,680 — Held-to-maturity securities 764,163 778,966 — 778,966 — Loans held for sale 8,784 8,784 — 8,784 — Loans, net of allowance for loan losses 2,583,049 2,572,294 — — 2,572,294 Federal Reserve Bank and Federal Home Loan Bank stock 31,710 N/A N/A N/A N/A Interest receivable 16,994 16,994 — 16,994 — Derivative assets 4,539 4,539 — 4,539 — Cash collateral held by derivative counterparty and netting adjustments 364 364 364 — — Total derivative assets 4,903 4,903 364 4,539 — Equity securities with readily determinable fair value 492 492 492 — — Total assets $ 3,734,325 $ 3,706,663 $ 168,909 $ 965,460 $ 2,572,294 Financial liabilities: Deposits $ 3,106,929 $ 3,116,023 $ — $ 3,116,023 $ — Federal funds purchased and retail repurchase agreements 40,652 40,652 — 40,652 — Federal Home Loan Bank advances 410,093 410,093 — 410,093 — Bank stock loan 14,770 14,770 — 14,770 — Subordinated debentures 14,485 14,485 — 14,485 — Contractual obligations 3,744 3,744 — 3,744 — Interest payable 4,821 4,821 — 4,821 — Derivative liabilities 5,376 5,376 — 5,376 — Cash collateral held by derivative counterparty and netting adjustments (5,376 ) (5,376 ) (5,376 ) — — Total derivative liabilities — — (5,376 ) 5,376 — Total liabilities $ 3,595,494 $ 3,604,588 $ (5,376 ) $ 3,609,964 $ — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 192,818 $ 192,818 $ 192,818 $ — $ — Interest-bearing time deposits in other banks 4,991 4,991 — 4,991 — Available-for-sale securities 168,875 168,875 — 168,875 — Held-to-maturity securities 748,356 739,989 — 739,989 — Loans held for sale 2,972 2,972 — 2,972 — Loans, net of allowance for loan losses 2,563,954 2,565,526 — — 2,565,526 Federal Reserve Bank and Federal Home Loan Bank stock 29,214 N/A N/A N/A N/A Interest receivable 17,372 17,372 — 17,372 — Derivative assets 933 933 — 933 — Cash collateral held by derivative counterparty and netting adjustments (242 ) (242 ) (242 ) — — Total derivative assets 691 691 (242 ) 933 — Equity securities with readily determinable fair value 475 475 475 — — Total assets $ 3,729,718 $ 3,693,709 $ 193,051 $ 935,132 $ 2,565,526 Financial liabilities: Deposits $ 3,123,447 $ 3,124,654 $ — $ 3,124,654 $ — Federal funds purchased and retail repurchase agreements 50,068 50,068 — 50,068 — Federal Home Loan Bank advances 384,898 384,898 — 384,898 — Bank stock loan 15,450 15,450 — 15,450 — Subordinated debentures 14,260 14,260 — 14,260 — Contractual obligations 3,965 3,965 — 3,965 — Interest payable 3,648 3,648 — 3,648 — Derivative liabilities 777 777 — 777 — Cash collateral held by derivative counterparty and netting adjustments (252 ) (252 ) (252 ) — — Total derivative liabilities 525 525 (252 ) 777 — Total liabilities $ 3,596,261 $ 3,597,468 $ (252 ) $ 3,597,720 $ — The fair value of off-balance-sheet items is not considered material. |
COMMITMENTS AND CREDIT RISK
COMMITMENTS AND CREDIT RISK | 9 Months Ended |
Sep. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CREDIT RISK | NOTE 11 – COMMITMENTS AND CREDIT RISK The Company extends credit for commercial real estate mortgages, residential mortgages, working capital financing and loans to businesses and consumers. Commitments to Originate Loans and Available Lines of Credit Commitments to originate loans and available lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments and lines of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments and lines of credit may expire without being drawn upon, the total commitment and lines of credit amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Mortgage loans in the process of origination represent amounts that the Company plans to fund within a normal period of 60 to 90 days and which are intended for sale to investors in the secondary market. The contractual amounts of commitments to originate loans and available lines of credit as of September 30, 2019 and December 31, 2018 were as follows. September 30, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 20,568 $ 176,297 $ 29,543 $ 171,857 Mortgage loans in the process of origination 11,691 5,966 6,785 2,860 Unused lines of credit 89,245 156,375 92,225 167,218 The fixed rate loan commitments have interest rates ranging from 3.75% to 8.09% and maturities ranging from 1 month to 73 months. Standby Letters of Credit Standby letters of credit are irrevocable commitments issued by the Company to guarantee the performance of a customer to a third party once specified pre-conditions are met. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain customers under non-financial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. The contractual amounts of standby letters of credit as of September 30, 2019 and December 31, 2018 were as follows. September 30, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 2,923 $ 2,959 $ 4,474 $ 2,716 |
LEGAL MATTERS
LEGAL MATTERS | 9 Months Ended |
Sep. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
LEGAL MATTERS | NOTE 12 – LEGAL MATTERS The Company is party to various matters of litigation in the ordinary course of business. The Company periodically reviews all outstanding pending or threatened legal proceedings and determines if such matters will have an adverse effect on the business, financial condition or results of operations or cash flows. A loss contingency is recorded when the outcome is probable and reasonably able to be estimated. The following loss contingency has been identified by the Company as reasonably possible to result in an unfavorable outcome for the Company or the Bank. Equity Bank is a party to a February 3, 2015 lawsuit filed against it by CitiMortgage, Inc., (“Citi”). The lawsuit involves an alleged breach of contract related to loan repurchase obligations and damages of $2,700 plus pre-judgment and post-judgment interest. In January 2018, judgement was entered by the court dismissing Citi’s claims with regard to six loans and holding Equity Bank liable with regard to six loans. A loss contingency of $477 was recorded at December 31, 2017, in connection with this case. Subsequently, Citi appealed the courts decision. On November 6, 2019, the Eighth Circuit Court of Appeals issued a decision affirming the trial court’s findings dismissing Citi’s claims with regard to six loans and holding Equity Bank liable with regard to six loans. Equity Bank has not yet determined to appeal the ruling. If not appealed by either party, Equity Bank will be required to satisfy the total judgment of $1,474, but shall be entitled to a reassignment of loans in which there is existing collateral. At the time of the January 2018 judgment, Citi held four loans with collateral having a total balance of $1,129. Except for the above mentioned lawsuit, there are no other outstanding claims for potential repurchase or indemnification demands regarding mortgage loans originated by Equity Bank and sold to investors. However, the Company believes there is possible risk it may face similar demands based on comparable demands loan aggregators are facing from their investors, including Government Sponsored Entities such as Freddie Mac and Fannie Mae, and or settlement agreements loan aggregators have entered into with those investors. The amount of potential loss and outcome of such possible litigation, if it were commenced, is uncertain and the Company would vigorously contest any claims. Equity Bank is a party to a claim filed against it by a borrower and his wife. The lawsuit alleges the Bank violated the Equal Credit Opportunity Act when it obtained pledge agreements and control agreements from the borrower’s wife that made certain investment accounts and life insurance policies collateral for certain business loans. The borrowers seek return of collateral proceeds the Bank liquidated and used to pay down related business loan balances. The Bank does not believe the case has merit and is vigorously defending the claim. On May 13, 2019, a purported stockholder of the Company filed a putative securities class action lawsuit in federal court in the Southern District of New York against the Company and certain of its executive officers. On August 16, 2019, the court appointed lead plaintiffs and on October 15, 2019, the plaintiffs filed an amended complaint on behalf of a putative class of persons who purchased Company securities between April 20, 2018 and April 23, 2019. Plaintiffs allege that the Company made materially misleading statements about the Company’s financial results, business, operations and prospects starting on April 20, 2018, that these statements caused the Company’s securities to be overvalued and that the “truth” came out on January 24, 2019, when the Company disclosed that a credit relationship was downgraded and further on April 22, 2019, when the Company disclosed a $14.5 million provision for loan loss against that credit relationship. The Company believes that the lawsuit is without merit and it intends to vigorously defend against all claims asserted. At this time, the Company is unable to reasonably estimate the outcome of this litigation. |
REVENUE RECOGNITION
REVENUE RECOGNITION | 9 Months Ended |
Sep. 30, 2019 | |
Revenue From Contract With Customer [Abstract] | |
REVENUE RECOGNITION | NOTE 13 – REVENUE RECOGNITION The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and nine-month periods ended September 30, 2019, and 2018. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Non-interest income Service charges and fees $ 2,268 $ 1,912 $ 6,431 $ 5,221 Debit card income 2,205 1,667 6,129 4,442 Mortgage banking (a) 820 392 1,699 1,017 Increase in bank-owned life insurance (a) 507 521 1,494 1,681 Net gain (loss) from securities transactions (a) 4 (4 ) 17 (14 ) Other Investment referral income 165 121 489 301 Trust income 61 20 181 20 Insurance sales commissions 61 85 106 147 Recovery on zero-basis purchased loans (a) 28 248 106 381 Income from equity method investments (a) 10 7 23 6 Other non-interest income related to loans and deposits 440 436 1,659 1,056 Other non-interest income not related to loans and deposits (a) 3 28 13 18 Total other non-interest income 768 945 2,577 1,929 Total $ 6,572 $ 5,433 $ 18,347 $ 14,276 ( a) A description of the Company’s revenue streams accounted for under ASC 606 follows. Service Charges and Fees The Company earns fees from its deposit customers for transaction-based, account maintenance and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are collected through withdrawal from the customer’s account balance. Debit Card Income The Company earns debit card income from cardholder transactions conducted through payment processors. Debit card income from cardholder transactions represent a percentage of the underlying transaction value and are recognized concurrently with the transaction processing services provided to the cardholder. Investment Referral Income Investment referral services are offered through an unaffiliated registered broker-dealer and investment advisor. Investment referral income consists of transaction-based fees (i.e., trade commissions) and account fees (i.e., custodial fees). The service obligation for transaction-based fees relates to processing of individual transactions and is considered earned at the time the transaction occurs. The Company currently records this income when payment is received and at each month end for current-month transactions. Account fees are considered earned over the period for which the fees relate. These fees are received during the first month of each quarter and represent advance payment for the current quarter. These fees are amortized ratably over the three months during the quarter. Therefore, all account-based fees are currently recorded as performance obligations are satisfied. Trust Income Trust income includes fees from asset management, custody, recordkeeping, investment advisory and administration services. Revenue is recognized at the time the services are performed and may be based on either the fair value of the account or the services provided. Insurance Sales Commissions Insurance commissions are received based on contracts with insurance companies which provide for a percentage of premiums to be paid to the Company in exchange for placement of policies with customers. The commissions generally relate to a period of one year or less. Under certain contracts, the Company may also assist with claims processing, but this performance obligation is considered insignificant compared to the initial placement of the policy. As such, the performance obligation is considered to have been substantially satisfied at the time of policy placement. While this indicates that all related revenue would be appropriately accrued at policy inception, in some cases recognition occurs over the policy period if received in installments from the insurance company. In no cases would this deferral extend beyond 12 months and the effect is considered immaterial compared to recognition at the time of policy placement. The Company also receives commissions based on renewals of policies previously placed. However, additional work is required to process the renewals, resulting in future performance obligations to earn the related revenues. In addition, the occurrence of such renewals is not certain as initial policies are generally for one year or less and the fees earned are not determined until the time of renewal, based on underwriting at that time. As such, the Company has determined that accrual of income for future renewals is not appropriate. Other Non-interest Income Other non-interest income related to loans and deposits is earned when the specific transaction is processed, similar to service charges and fees. Gain or Loss on Sale of Other Real Estate Gain or loss on sale of other real estate is reported in non-interest expense and is netted with other real estate expenses. The Company records a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate to the buyer, the Company assesses whether the buyer is committed to perform their obligation under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the other real estate is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. As a result, the Company has concluded that ASC 606 will affect the decision to recognize or defer gains on sales of other real estate in circumstances where the Company has financed the sale. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATIONS | NOTE 14 – BUSINESS COMBINATIONS On February 8, 2019, Equity Bank acquired the assets and assumed the deposits and certain other liabilities of two branch locations in Guymon, Oklahoma and one branch location in Cordell, Oklahoma, from MidFirst Bank based in Oklahoma City, Oklahoma (“MidFirst”). Results of operations of these new branches were included in the Company’s results of operations beginning February 9, 2019. Acquisition-related costs associated with this acquisition were $902 ($684 on an after-tax basis) and are included in merger expenses in the Company’s income statement for the nine months ended September 30, 2019. The fair value of consideration exchanged exceeded the recognized amounts of the identifiable net assets and resulted in goodwill of $4,720. Goodwill resulted from a combination of expected synergies including expansion into western Oklahoma with an additional three branch locations and growth opportunities. The following table summarizes the consideration paid for the MidFirst assets acquired and liabilities assumed recognized at the acquisition date. Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 85,360 Loans 6,507 Premises and equipment 656 Core deposit intangible 1,350 Other assets 13 Total assets acquired 93,886 Deposits 98,543 Interest payable and other liabilities 63 Total liabilities assumed 98,606 Total identifiable net assets (4,720 ) Goodwill 4,720 $ — The fair value of net assets acquired includes fair value adjustments to certain loans that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Company believes that all contractual cash flows related to these financial instruments will be collected. As such, these loans were not considered impaired at the acquisition date and were not subject to the guidance relating to purchased credit impaired loans, which have shown evidence of credit deterioration since origination. The following table presents information about the loans acquired in the MidFirst acquisition as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Contractually required principal $ 6,770 $ — Non-accretable difference (expected losses) — — Cash flows expected to be collected 6,770 — Accretable yield (263 ) — Fair value of acquired loans $ 6,507 $ — The following table presents the carrying value of the loans acquired in the MidFirst acquisition by class, as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 668 $ — $ 668 Commercial and industrial 34 — 34 Residential real estate 3,271 — 3,271 Agricultural real estate — — — Consumer 2,534 — 2,534 Agricultural — — — Fair value of acquired loans $ 6,507 $ — $ 6,507 |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Reclassifications | Reclassifications Some items in prior financial statements were reclassified to conform to the current presentation. Management determined the items reclassified are immaterial to the consolidated financial statements taken as a whole and did not result in a change in equity or net income for the periods reported. |
Adoption of New Accounting Standards | Adoption of New Accounting Standards In February 2016, FASB issued ASU 2016-02, Leases, Leases – Targeted Improvements In March 2017, FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging, Targeted Improvements to Accounting for Hedging Activities In August 2018, FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software; Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. Recent Accounting Pronouncements In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses, In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other |
Revenue Recognition | The majority of the Company’s revenues come from interest income on financial instruments, including loans, leases, securities and derivatives, which are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented with non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges and fees on deposits, debit card income, investment referral income, insurance sales commissions and other non-interest income related to loans and deposits. Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and nine-month periods ended September 30, 2019, and 2018. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Non-interest income Service charges and fees $ 2,268 $ 1,912 $ 6,431 $ 5,221 Debit card income 2,205 1,667 6,129 4,442 Mortgage banking (a) 820 392 1,699 1,017 Increase in bank-owned life insurance (a) 507 521 1,494 1,681 Net gain (loss) from securities transactions (a) 4 (4 ) 17 (14 ) Other Investment referral income 165 121 489 301 Trust income 61 20 181 20 Insurance sales commissions 61 85 106 147 Recovery on zero-basis purchased loans (a) 28 248 106 381 Income from equity method investments (a) 10 7 23 6 Other non-interest income related to loans and deposits 440 436 1,659 1,056 Other non-interest income not related to loans and deposits (a) 3 28 13 18 Total other non-interest income 768 945 2,577 1,929 Total $ 6,572 $ 5,433 $ 18,347 $ 14,276 ( a) A description of the Company’s revenue streams accounted for under ASC 606 follows. Service Charges and Fees The Company earns fees from its deposit customers for transaction-based, account maintenance and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are collected through withdrawal from the customer’s account balance. Debit Card Income The Company earns debit card income from cardholder transactions conducted through payment processors. Debit card income from cardholder transactions represent a percentage of the underlying transaction value and are recognized concurrently with the transaction processing services provided to the cardholder. Investment Referral Income Investment referral services are offered through an unaffiliated registered broker-dealer and investment advisor. Investment referral income consists of transaction-based fees (i.e., trade commissions) and account fees (i.e., custodial fees). The service obligation for transaction-based fees relates to processing of individual transactions and is considered earned at the time the transaction occurs. The Company currently records this income when payment is received and at each month end for current-month transactions. Account fees are considered earned over the period for which the fees relate. These fees are received during the first month of each quarter and represent advance payment for the current quarter. These fees are amortized ratably over the three months during the quarter. Therefore, all account-based fees are currently recorded as performance obligations are satisfied. Trust Income Trust income includes fees from asset management, custody, recordkeeping, investment advisory and administration services. Revenue is recognized at the time the services are performed and may be based on either the fair value of the account or the services provided. Insurance Sales Commissions Insurance commissions are received based on contracts with insurance companies which provide for a percentage of premiums to be paid to the Company in exchange for placement of policies with customers. The commissions generally relate to a period of one year or less. Under certain contracts, the Company may also assist with claims processing, but this performance obligation is considered insignificant compared to the initial placement of the policy. As such, the performance obligation is considered to have been substantially satisfied at the time of policy placement. While this indicates that all related revenue would be appropriately accrued at policy inception, in some cases recognition occurs over the policy period if received in installments from the insurance company. In no cases would this deferral extend beyond 12 months and the effect is considered immaterial compared to recognition at the time of policy placement. The Company also receives commissions based on renewals of policies previously placed. However, additional work is required to process the renewals, resulting in future performance obligations to earn the related revenues. In addition, the occurrence of such renewals is not certain as initial policies are generally for one year or less and the fees earned are not determined until the time of renewal, based on underwriting at that time. As such, the Company has determined that accrual of income for future renewals is not appropriate. Other Non-interest Income Other non-interest income related to loans and deposits is earned when the specific transaction is processed, similar to service charges and fees. Gain or Loss on Sale of Other Real Estate Gain or loss on sale of other real estate is reported in non-interest expense and is netted with other real estate expenses. The Company records a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate to the buyer, the Company assesses whether the buyer is committed to perform their obligation under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the other real estate is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain or loss on sale if a significant financing component is present. As a result, the Company has concluded that ASC 606 will affect the decision to recognize or defer gains on sales of other real estate in circumstances where the Company has financed the sale. |
SECURITIES (Tables)
SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Amortized Cost and Fair Value of Securities Available-for-Sale | The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are listed below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value September 30, 2019 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 152,068 $ 1,024 $ (412 ) $ 152,680 $ 152,068 $ 1,024 $ (412 ) $ 152,680 December 31, 2018 Available-for-sale securities Residential mortgage-backed securities (issued by government-sponsored entities) $ 173,503 $ 12 $ (4,640 ) $ 168,875 $ 173,503 $ 12 $ (4,640 ) $ 168,875 |
Amortized Cost and Fair Value of Securities Held-to-Maturity | The amortized cost and fair value of held-to-maturity securities and the related gross unrecognized gains and losses are listed in the following table. Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value September 30, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ 2,739 $ 25 $ (4 ) $ 2,760 Residential mortgage-backed (securities issued by government sponsored entities) 584,230 11,339 (681 ) 594,888 Corporate 22,992 366 (39 ) 23,319 Small Business Administration loan pools 1,478 37 — 1,515 State and political subdivisions 152,724 3,783 (23 ) 156,484 $ 764,163 $ 15,550 $ (747 ) $ 778,966 December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 3,873 $ 7 $ (20 ) $ 3,860 Residential mortgage-backed (securities issued by government sponsored entities) 567,766 2,354 (9,653 ) 560,467 Corporate 22,993 234 (326 ) 22,901 Small Business Administration loan pools 1,746 — (18 ) 1,728 State and political subdivisions 151,978 804 (1,749 ) 151,033 $ 748,356 $ 3,399 $ (11,766 ) $ 739,989 |
Fair Value and Amortized Cost of Debt Securities by Contractual Maturity | The fair value and amortized cost of debt securities at September 30, 2019, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ 15,851 $ 15,888 One to five years — — 33,321 34,018 Five to ten years — — 54,978 56,338 After ten years — — 75,783 77,834 Mortgage-backed securities 152,068 152,680 584,230 594,888 Total debt securities $ 152,068 $ 152,680 $ 764,163 $ 778,966 |
Proceeds from Sales and Associated Gains and Losses Reclassified from Other comprehensive Income to Income | The proceeds from sales and the associated gains and losses on available-for-sale securities reclassified from other comprehensive income to income are listed in the table below. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Proceeds $ — $ — $ — $ 33,419 Gross gains — — — — Gross losses — — — — Income tax expense on net realized gains — — — — |
Available for Sale Securities [Member] | |
Summary of Gross Unrealized Losses and Fair Value of Securities | The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018. Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss September 30, 2019 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 9,842 $ (12 ) $ 39,655 $ (400 ) $ 49,497 $ (412 ) Total temporarily impaired securities $ 9,842 $ (12 ) $ 39,655 $ (400 ) $ 49,497 $ (412 ) December 31, 2018 Available-for-sale securities Residential mortgage-backed (issued by government-sponsored entities) $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) Total temporarily impaired securities $ 48,332 $ (575 ) $ 115,844 $ (4,065 ) $ 164,176 $ (4,640 ) |
Held to Maturity Securities [Member] | |
Summary of Gross Unrealized Losses and Fair Value of Securities | Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss September 30, 2019 Held-to-maturity securities U.S. Government-sponsored entities $ — $ — $ 996 $ (4 ) $ 996 $ (4 ) Residential mortgage-backed (issued by government-sponsored entities) 19,383 (65 ) 128,867 (811 ) 148,250 (876 ) Corporate 7,840 (39 ) — — 7,840 (39 ) Small Business Administration loan pools 818 (8 ) — — 818 (8 ) State and political subdivisions 2,431 (4 ) 785 (2 ) 3,216 (6 ) Total temporarily impaired securities $ 30,472 $ (116 ) $ 130,648 $ (817 ) $ 161,120 $ (933 ) December 31, 2018 Held-to-maturity securities U.S. Government-sponsored entities $ 1,882 $ (3 ) $ 982 $ (17 ) $ 2,864 $ (20 ) Residential mortgage-backed (issued by government-sponsored entities) 31,270 (356 ) 294,127 (10,579 ) 325,397 (10,935 ) Corporate 7,500 (326 ) 5,182 (49 ) 12,682 (375 ) Small Business Administration loan pools — — 1,728 (37 ) 1,728 (37 ) State and political subdivisions 40,415 (473 ) 45,137 (1,561 ) 85,552 (2,034 ) Total temporarily impaired securities $ 81,067 $ (1,158 ) $ 347,156 $ (12,243 ) $ 428,223 $ (13,401 ) |
LOANS AND ALLOWANCE FOR LOAN _2
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Categories of Loans | The following table lists categories of loans at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Commercial real estate $ 1,183,305 $ 1,231,217 Commercial and industrial 585,797 601,782 Residential real estate 531,257 446,060 Agricultural real estate 143,718 139,332 Consumer 70,944 62,894 Agricultural 85,903 94,123 Total loans 2,600,924 2,575,408 Allowance for loan losses (17,875 ) (11,454 ) Net loans $ 2,583,049 $ 2,563,954 |
Schedule of Allowance for Loan Losses by Portfolio Segment Allowance | The following tables present the activity in the allowance for loan losses by class for the three-month periods ended September 30, 2019 and 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,712 $ 7,948 $ 2,908 $ 525 $ 1,344 $ 340 $ 17,777 Provision for loan losses 396 49 (324 ) 131 241 186 679 Loans charged-off (506 ) (18 ) (355 ) (9 ) (313 ) (5 ) (1,206 ) Recoveries 47 17 450 38 73 — 625 Total ending allowance balance $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 September 30, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 3,495 $ 2,254 $ 2,663 $ 334 $ 983 $ 354 $ 10,083 Provision for loan losses 734 287 (20 ) 28 330 (68 ) 1,291 Loans charged-off (90 ) (3 ) (91 ) (13 ) (526 ) — (723 ) Recoveries 11 22 56 13 256 1 359 Total ending allowance balance $ 4,150 $ 2,560 $ 2,608 $ 362 $ 1,043 $ 287 $ 11,010 The following tables present the activity in the allowance for loan losses by class for the nine-month periods ended September 30, 2019 and 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Provision for loan losses 981 13,979 805 299 973 262 17,299 Loans charged-off (1,114 ) (8,756 ) (934 ) (43 ) (994 ) (47 ) (11,888 ) Recoveries 120 66 488 38 296 2 1,010 Total ending allowance balance $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 September 30, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Beginning balance $ 2,740 $ 2,136 $ 2,262 $ 319 $ 768 $ 273 $ 8,498 Provision for loan losses 1,241 483 455 120 865 47 3,211 Loans charged-off (119 ) (89 ) (362 ) (93 ) (1,035 ) (43 ) (1,741 ) Recoveries 288 30 253 16 445 10 1,042 Total ending allowance balance $ 4,150 $ 2,560 $ 2,608 $ 362 $ 1,043 $ 287 $ 11,010 |
Schedule of Loans Evaluated for Impairment | The following tables present the recorded investment in loans and the balance in the allowance for loan losses by portfolio and class based on impairment method as of September 30, 2019 and December 31, 2018. September 30, 2019 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 436 $ 5,238 $ 364 $ 157 $ 63 $ 101 $ 6,359 Collectively evaluated for impairment 3,343 2,744 2,293 430 1,282 325 10,417 Purchased credit impaired loans 870 14 22 98 — 95 1,099 Total $ 4,649 $ 7,996 $ 2,679 $ 685 $ 1,345 $ 521 $ 17,875 Loan Balance: Individually evaluated for impairment $ 5,327 $ 21,341 $ 8,682 $ 1,115 $ 624 $ 749 $ 37,838 Collectively evaluated for impairment 1,165,740 558,958 519,818 137,063 70,292 83,044 2,534,915 Purchased credit impaired loans 12,238 5,498 2,757 5,540 28 2,110 28,171 Total $ 1,183,305 $ 585,797 $ 531,257 $ 143,718 $ 70,944 $ 85,903 $ 2,600,924 December 31, 2018 Commercial Real Estate Commercial and Industrial Residential Real Estate Agricultural Real Estate Consumer Agricultural Total Allowance for loan losses: Individually evaluated for impairment $ 242 $ 185 $ 391 $ 22 $ 62 $ 10 $ 912 Collectively evaluated for impairment 3,695 2,493 1,861 367 925 293 9,634 Purchased credit impaired loans 725 29 68 2 83 1 908 Total $ 4,662 $ 2,707 $ 2,320 $ 391 $ 1,070 $ 304 $ 11,454 Loan Balance: Individually evaluated for impairment $ 4,068 $ 24,275 $ 4,434 $ 856 $ 678 $ 2,252 $ 36,563 Collectively evaluated for impairment 1,213,653 571,171 438,739 133,415 61,978 89,194 2,508,150 Purchased credit impaired loans 13,496 6,336 2,887 5,061 238 2,677 30,695 Total $ 1,231,217 $ 601,782 $ 446,060 $ 139,332 $ 62,894 $ 94,123 $ 2,575,408 |
Impaired Loans, Segregated by Class of Loans | The following table presents information related to impaired loans, excluding purchased credit impaired loans which have not deteriorated since acquisition, by class of loans as of September 30, 2019 and December 31, 2018. The recorded investment in loans excludes accrued interest receivable due to immateriality. September 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no related allowance recorded: Commercial real estate $ 3,287 $ 2,962 $ — $ 1,685 $ 1,647 $ — Commercial and industrial 557 546 — 22,701 22,651 — Residential real estate 5,072 5,040 — 533 527 — Agricultural real estate 964 933 — 2,038 2,035 — Consumer 32 — — 61 55 — Agricultural — — — 756 756 — Subtotal 9,912 9,481 — 27,774 27,671 — With an allowance recorded: Commercial real estate 8,434 6,830 1,305 8,700 7,179 967 Commercial and industrial 21,108 20,933 5,252 2,255 1,911 214 Residential real estate 4,073 3,859 387 4,934 4,582 459 Agricultural real estate 1,560 1,439 255 261 242 24 Consumer 689 624 63 1,144 859 145 Agricultural 1,843 1,591 196 162 106 11 Subtotal 37,707 35,276 7,458 17,456 14,879 1,820 Total $ 47,619 $ 44,757 $ 7,458 $ 45,230 $ 42,550 $ 1,820 The tables below present average recorded investment and interest income related to impaired loans for the three and nine months ended September 30, 2019 and 2018. Interest income recognized in the following table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. As of and for the three months ended September 30, 2019 September 30, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 3,327 $ 3 $ 1,938 $ 14 Commercial and industrial 808 — 4,664 — Residential real estate 7,800 19 918 6 Agricultural real estate 1,750 — 2,299 6 Consumer 15 — 53 — Agricultural 161 — 417 — Subtotal 13,861 22 10,289 26 With an allowance recorded: Commercial real estate 7,032 — 2,463 79 Commercial and industrial 21,066 9 856 16 Residential real estate 3,891 20 4,309 16 Agricultural real estate 1,296 2 264 — Consumer 728 4 480 1 Agricultural 1,128 — 143 — Subtotal 35,141 35 8,515 112 Total $ 49,002 $ 57 $ 18,804 $ 138 As of and for the nine months ended September 30, 2019 September 30, 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate $ 7,427 $ 82 $ 1,840 $ 132 Commercial and industrial 2,064 5 6,188 66 Residential real estate 4,161 50 798 16 Agricultural real estate 1,804 — 1,196 18 Consumer 31 — 26 — Agricultural 300 — 324 18 Subtotal 15,787 137 10,372 250 With an allowance recorded: Commercial real estate 7,140 74 1,847 81 Commercial and industrial 18,528 12 858 16 Residential real estate 6,965 28 4,090 38 Agricultural real estate 907 2 476 2 Consumer 772 9 495 4 Agricultural 663 2 496 4 Subtotal 34,975 127 8,262 145 Total $ 50,762 $ 264 $ 18,634 $ 395 |
Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans | The following tables present the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018, by portfolio and class of loans. September 30, 2019 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 2,514 $ 704 $ — $ 12,311 $ 1,167,776 $ 1,183,305 Commercial and industrial 413 315 — 21,945 563,124 585,797 Residential real estate 779 1,582 3 9,342 519,551 531,257 Agricultural real estate 67 46 — 5,206 138,399 143,718 Consumer 246 147 49 624 69,878 70,944 Agricultural 73 — — 1,591 84,239 85,903 Total $ 4,092 $ 2,794 $ 52 $ 51,019 $ 2,542,967 $ 2,600,924 December 31, 2018 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Still On Accrual Nonaccrual Loans Not Past Due Total Commercial real estate $ 1,302 $ 259 $ — $ 12,768 $ 1,216,888 $ 1,231,217 Commercial and industrial 509 2,467 — 6,954 591,852 601,782 Residential real estate 782 2,188 18 5,257 437,815 446,060 Agricultural real estate — 30 — 4,857 134,445 139,332 Consumer 501 157 — 914 61,322 62,894 Agricultural 186 3 — 2,453 91,481 94,123 Total $ 3,280 $ 5,104 $ 18 $ 33,203 $ 2,533,803 $ 2,575,408 |
Summary of Risk Category of Loans by Class of Loans | The risk category of loans by class of loans is as follows as of September 30, 2019 and December 31, 2018. September 30, 2019 Unclassified Classified Total Commercial real estate $ 1,165,707 $ 17,598 $ 1,183,305 Commercial and industrial 535,939 49,858 585,797 Residential real estate 521,906 9,351 531,257 Agricultural real estate 130,920 12,798 143,718 Consumer 70,320 624 70,944 Agricultural 80,259 5,644 85,903 Total $ 2,505,051 $ 95,873 $ 2,600,924 December 31, 2018 Unclassified Classified Total Commercial real estate $ 1,194,240 $ 36,977 $ 1,231,217 Commercial and industrial 572,300 29,482 601,782 Residential real estate 440,704 5,356 446,060 Agricultural real estate 129,285 10,047 139,332 Consumer 61,976 918 62,894 Agricultural 90,848 3,275 94,123 Total $ 2,489,353 $ 86,055 $ 2,575,408 |
Schedule of Recorded Investments in Purchase Credit Impaired Loans | The table below lists recorded investments in purchased credit impaired loans as of September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Contractually required principal payments $ 36,150 $ 40,772 Discount (7,979 ) (10,077 ) Recorded investment $ 28,171 $ 30,695 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Notional Balance and Fair Values of Derivatives Outstanding | The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities Derivatives designated as hedging instruments: Interest rate swaps $ 5,848 $ 3 $ 251 $ 16,743 $ 242 $ — Total derivatives designated as hedging relationships 5,848 3 251 16,743 242 — Derivatives not designated as hedging instruments: Interest rate swaps 114,835 4,536 5,125 38,073 690 777 Interest rate caps/floors 2,046 — — 2,264 1 — Total derivatives not designated as hedging instruments 116,881 4,536 5,125 40,337 691 777 Total $ 122,729 4,539 5,376 $ 57,080 933 777 Cash collateral — (5,740 ) (531 ) (541 ) Netting adjustments 364 364 289 289 Net amount presented in Balance Sheet $ 4,903 $ — $ 691 $ 525 |
Summary of Designated and Qualifying Hedged Items in Fair Value Hedges | The table below lists designated and qualifying hedged items in fair value hedges at September 30, 2019. September 30, 2019 Carrying Amount Hedging Fair Value Adjustment Fair Value Adjustments on Discontinued Hedges Commercial real estate loans $ 6,094 $ 248 $ — Total $ 6,094 $ 248 $ — |
Summary of Net Gains/ (Losses) on Derivatives and Hedging Activities | For the three and nine-month periods ended September 30, 2019 and 2018, the Company recorded net gains/(losses) on derivatives and hedging activities. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Derivatives designated as hedging instruments: Interest rate swaps $ — $ — $ — $ — Total net gain (loss) related to fair value hedge ineffectiveness — — — — Derivatives not designated as hedging instruments: Economic hedges: Interest rate swaps (180 ) 82 (501 ) 82 Interest rate caps/floors — — (1 ) — Total net gains (losses) related to derivatives not designated as hedging instruments (180 ) 82 (502 ) 82 Net gains (losses) on derivatives and hedging activities $ (180 ) $ 82 $ (502 ) $ 82 |
Summary of Recorded Net Gains (Losses) on Derivatives and Related Hedged Items in Fair Value Hedging Relationships | The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the three-month periods ended September 30, 2019 and 2018. September 30, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Gain/(Loss) Effect of Derivatives on Net Interest Income Commercial real estate loans $ 307 $ (307 ) $ — $ 2 Total $ 307 $ (307 ) $ — $ 2 September 30, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 157 $ (157 ) $ — $ (6 ) Total $ 157 $ (157 ) $ — $ (6 ) The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the nine-month periods ended September 30, 2019 and 2018. September 30, 2019 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ (489 ) $ 489 $ — $ 21 Total $ (489 ) $ 489 $ — $ 21 September 30, 2018 Gain/(Loss) on Derivatives Gain/(Loss) on Hedged Items Net Fair Value Hedge Ineffectiveness Effect of Derivatives on Net Interest Income Commercial real estate loans $ 740 $ (740 ) $ — $ (44 ) Total $ 740 $ (740 ) $ — $ (44 ) |
LEASE OBLIGATIONS (Tables)
LEASE OBLIGATIONS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Schedule of Right-of-use Asset and Lease Obligations by Type of Property | Right-of-use asset and lease obligations by type of property are listed below. September 30, 2019 Operating Leases Right-of-Use Asset Lease Liability Weighted Average Lease Term in Years Weighted Average Discount Rate Land and building leases $ 3,048 $ 2,998 13.9 3.08 % Equipment leases 27 33 2.3 2.59 % Total operating leases $ 3,075 $ 3,031 13.8 3.08 % |
Schedule of Operating Lease Costs | Operating lease costs are listed below. Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 185 $ 540 Short-term lease cost — — Variable lease cost 12 35 Total operating lease cost $ 197 $ 575 |
Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability | A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is listed below. Lease Payments September 30, 2019 Due in one year or less $ 628 Due after one year through two years 488 Due after two years through three years 431 Due after three years through four years 357 Due after four years through five years 163 Thereafter 1,815 Total undiscounted cash flows 3,882 Discount on cash flows (851 ) Total operating lease liability $ 3,031 |
BORROWINGS (Tables)
BORROWINGS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Schedule of Federal Funds Purchased and Retail Repurchase Agreements | Federal funds purchased and retail repurchase agreements as of September 30, 2019 and December 31, 2018 are listed below. September 30, 2019 December 31, 2018 Federal funds purchased $ — $ — Retail repurchase agreements 40,652 50,068 |
Average Daily Balance and Interest Rate of Federal Funds Purchased and Retail Repurchase Agreements | September 30, 2019 December 31, 2018 Year-to-date average daily balance during the period $ 43,054 $ 43,536 Maximum month-end balance year-to-date $ 45,575 $ 53,815 Weighted average interest rate at period-end 0.46 % 0.28 % |
Summary of Federal Home Loan Bank Advances | Federal Home Loan Bank advances as of September 30, 2019 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ 396,223 2.20 % — Federal Home Loan Bank fixed-rate term advances 13,809 2.80 % 2.8 Total principal outstanding 410,032 Merger purchase accounting adjustment 61 Total Federal Home Loan Bank advances $ 410,093 Federal Home Loan Bank advances as of December 31, 2018 are listed below. December 31, 2018 Weighted Average Rate Weighted Average Term in Years Federal Home Loan Bank line of credit advances $ 368,770 2.65 % — Federal Home Loan Bank fixed-rate term advances 16,049 2.81 % 3.1 Total principal outstanding 384,819 Merger purchase accounting adjustment 79 Total Federal Home Loan Bank advances $ 384,898 |
Schedule of Bank Stock Loan Advances | Bank stock loan advances as of September 30, 2019 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years Bank stock loan $ 14,770 5.00 % 4.2 Bank stock loan advances as of December 31, 2018 are listed below. December 31, 2018 Weighted Average Rate Weighted Average Term in Years Bank stock loan $ 15,450 5.50 % 4.5 |
Schedule of Subordinated Debentures | Subordinated debentures as of September 30, 2019 and December 31, 2018 are listed below. September 30, 2019 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 4.30 % 15.6 CTIII subordinated debentures 5,155 4.01 % 17.7 CFSTI subordinated debentures 5,155 5.36 % 13.2 Total contractual balance 20,620 Fair market value adjustments (6,135 ) Total subordinated debentures $ 14,485 December 31, 2018 Weighted Average Rate Weighted Average Term in Years CTII subordinated debentures $ 10,310 4.44 % 16.3 CTIII subordinated debentures 5,155 4.68 % 18.5 CFSTI subordinated debentures 5,155 6.07 % 14.0 Total contractual balance 20,620 Fair market value adjustments (6,360 ) Total subordinated debentures $ 14,260 |
Federal Home Loan Bank Advances [Member] | |
Summary of Future Principal Repayments | Future principal repayments of the September 30, 2019 outstanding balances are as follows. Due in one year or less $ 399,211 Due after one year through two years 2,357 Due after two years through three years 2,357 Due after three years through four years 2,357 Due after four years through five years 2,107 Thereafter 1,643 Total $ 410,032 |
Bank Stock Loan [Member] | |
Summary of Future Principal Repayments | Future principal repayments of the September 30, 2019 outstanding balances are as follows. Due in one year or less $ 2,326 Due after one year through two years 2,326 Due after two years through three years 2,326 Due after three years through four years 3,626 Due after four years through five years 4,166 Thereafter — Total $ 14,770 |
STOCKHOLDERS' EQUITY (Tables)
STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Summary of Shares Issued and Held in Treasury or Outstanding | The following table presents shares that were issued and were held in treasury or were outstanding at September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 Class A common stock – issued 17,132,393 17,064,138 Class A common stock – held in treasury (1,692,059 ) (1,271,043 ) Class A common stock – outstanding 15,440,334 15,793,095 Class B common stock – issued 234,903 234,903 Class B common stock – held in treasury (234,903 ) (234,903 ) Class B common stock – outstanding — — |
Components of Accumulated Other Comprehensive Income (Loss) | Components of accumulated other comprehensive income (loss) as of September 30, 2019 and December 31, 2018, are listed below. Available-for- Sale Securities Held-to- Maturity Securities Accumulated Other Comprehensive Income (Loss) September 30, 2019 Net unrealized or unamortized gains (losses) $ 612 $ (1,177 ) $ (565 ) Tax effect (154 ) 296 142 $ 458 $ (881 ) $ (423 ) December 31, 2018 Net unrealized or unamortized gains (losses) $ (4,628 ) $ (1,891 ) $ (6,519 ) Tax effect 1,173 479 1,652 $ (3,455 ) $ (1,412 ) $ (4,867 ) |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Banking And Thrift [Abstract] | |
Summary of Company's and Equity Bank's Capital Amounts and Ratios | The Company’s and Equity Bank’s capital amounts and ratios at September 30, 2019 and December 31, 2018 are presented in the table below. Ratios provided for Equity Bancshares, Inc. represent the ratios of the Company on a consolidated basis. Actual Minimum Required for Capital Adequacy Under Basel III Phase-In Minimum Required for Capital Adequacy Under Basel III Fully Phased-In To Be Well Capitalized Under Prompt Corrective Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio September 30, 2019 Total capital to risk weighted assets Equity Bancshares, Inc. $ 347,082 12.21 % $ 298,357 10.50 % $ 298,357 10.50 % $ N/A N/A Equity Bank 342,244 12.06 % 298,044 10.50 % 298,044 10.50 % 283,851 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 329,207 11.59 % 241,527 8.50 % 241,527 8.50 % N/A N/A Equity Bank 324,369 11.43 % 241,274 8.50 % 241,274 8.50 % 227,081 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 314,722 11.08 % 198,905 7.00 % 198,905 7.00 % N/A N/A Equity Bank 324,369 11.43 % 198,696 7.00 % 198,696 7.00 % 184,503 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 329,207 8.49 % 155,020 4.00 % 155,020 4.00 % N/A N/A Equity Bank 324,369 8.38 % 154,778 4.00 % 154,778 4.00 % 193,473 5.00 % December 31, 2018 Total capital to risk weighted assets Equity Bancshares, Inc. $ 337,649 11.86 % $ 281,222 9.88 % $ 299,021 10.50 % $ N/A N/A Equity Bank 338,180 11.89 % 280,845 9.88 % 298,619 10.50 % 284,400 10.00 % Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 326,195 11.45 % 224,266 7.88 % 242,065 8.50 % N/A N/A Equity Bank 326,726 11.49 % 223,965 7.88 % 241,740 8.50 % 227,520 8.00 % Common equity Tier 1 capital to risk weighted assets Equity Bancshares, Inc. 311,935 10.95 % 181,548 6.38 % 199,347 7.00 % N/A N/A Equity Bank 326,726 11.49 % 181,305 6.38 % 199,080 7.00 % 184,860 6.50 % Tier 1 leverage to average assets Equity Bancshares, Inc. 326,195 8.60 % 151,731 4.00 % 151,731 4.00 % N/A N/A Equity Bank 326,726 8.62 % 151,590 4.00 % 151,590 4.00 % 189,488 5.00 % |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | The following table presents earnings per share for the three and nine-month periods ended September 30, 2019 and 2018. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Basic: Net income allocable to common stockholders $ 10,406 $ 10,322 $ 15,565 $ 25,900 Weighted average common shares outstanding 15,513,969 15,787,760 15,677,972 15,253,589 Weighted average vested restricted stock units 73 1,692 1,584 5,887 Weighted average shares 15,514,042 15,789,452 15,679,556 15,259,476 Basic earnings per common share $ 0.67 $ 0.65 $ 0.99 $ 1.70 Diluted: Net income allocable to common stockholders $ 10,406 $ 10,322 $ 15,565 $ 25,900 Weighted average common shares outstanding for: Basic earnings per common share 15,514,042 15,789,452 15,679,556 15,259,476 Dilutive effects of the assumed exercise of stock options 178,285 316,181 201,024 300,171 Dilutive effects of the assumed vesting of restricted stock units 15,711 30,974 16,025 18,370 Average shares and dilutive potential common shares 15,708,038 16,136,607 15,896,605 15,578,017 Diluted earnings per common share $ 0.66 $ 0.64 $ 0.98 $ 1.66 |
Schedule of Average Shares Not Included In the Computation of Diluted Earnings Per Share | Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table. Three months ended Nine months ended September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 Stock options 347,528 35,305 315,522 23,425 Restricted stock units 141,693 — 2,197 — Total antidilutive shares 489,221 35,305 317,719 23,425 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are summarized in the following table. September 30, 2019 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 152,680 $ — Derivative assets: Derivative assets (included in other assets) — 4,539 — Cash collateral held by counterparty and netting adjustments 364 — — Total derivative assets 364 4,539 — Other assets: Equity securities with readily determinable fair value 492 — — Total other assets 492 — — Total assets $ 856 $ 157,219 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 5,376 $ — Cash collateral held by counterparty and netting adjustments (5,376 ) — — Total derivative liabilities (5,376 ) 5,376 — Total liabilities $ (5,376 ) $ 5,376 $ — December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Available-for-sale securities: Residential mortgage-backed securities (issued by government-sponsored entities) $ — $ 168,875 $ — Derivative assets: Derivative assets (included in other assets) — 933 — Cash collateral held by counterparty and netting adjustments (242 ) — — Total derivative assets (242 ) 933 — Other assets: Equity securities with readily determinable fair value 475 — — Total other assets 475 — — Total assets $ 233 $ 169,808 $ — Liabilities: Derivative liabilities: Derivative liabilities (included in other liabilities) $ — $ 777 $ — Cash collateral held by counterparty (252 ) — — Total derivative liabilities (252 ) 777 — Total liabilities $ (252 ) $ 777 $ — |
Summary of Assets Measured at Fair Value on Non-recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below. September 30, 2019 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 5,525 Commercial and industrial — — 15,681 Residential real estate — — 3,472 Agricultural real estate — — 1,184 Other — — 1,956 Other real estate owned: Commercial real estate — — 1,667 Residential real estate — — 33 December 31, 2018 (Level 1) (Level 2) (Level 3) Impaired loans: Commercial real estate $ — $ — $ 6,212 Commercial and industrial — — 1,697 Residential real estate — — 4,123 Agricultural real estate — — 218 Other — — 809 Other real estate owned: Commercial real estate — — 1,391 Residential real estate — — 97 |
Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement | The following table presents additional information about the unobservable inputs used in the fair value measurement of financial assets measured on a nonrecurring basis that were categorized with Level 3 of the fair value hierarchy. Fair Value Valuation Technique Unobservable Input Range (weighted September 30, 2019 Impaired real estate loans $ 13,553 Sales Approach Adjustments for differences comparable sales 9% - 26% (17%) Impaired other loans $ 14,265 Multiple of Earnings Multiples of earnings for comparable entities 5.3X December 31, 2018 Impaired loans $ 13,059 Sales Approach Adjustments for differences comparable sales 4% - 22% (13%) |
Carrying Amount and Estimated Fair Values of Financial Instrument | Carrying amount and estimated fair values of financial instruments at period end were as follows. September 30, 2019 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 168,053 $ 168,053 $ 168,053 $ — $ — Interest-bearing time deposits in other banks 3,497 3,497 — 3,497 — Available-for-sale securities 152,680 152,680 — 152,680 — Held-to-maturity securities 764,163 778,966 — 778,966 — Loans held for sale 8,784 8,784 — 8,784 — Loans, net of allowance for loan losses 2,583,049 2,572,294 — — 2,572,294 Federal Reserve Bank and Federal Home Loan Bank stock 31,710 N/A N/A N/A N/A Interest receivable 16,994 16,994 — 16,994 — Derivative assets 4,539 4,539 — 4,539 — Cash collateral held by derivative counterparty and netting adjustments 364 364 364 — — Total derivative assets 4,903 4,903 364 4,539 — Equity securities with readily determinable fair value 492 492 492 — — Total assets $ 3,734,325 $ 3,706,663 $ 168,909 $ 965,460 $ 2,572,294 Financial liabilities: Deposits $ 3,106,929 $ 3,116,023 $ — $ 3,116,023 $ — Federal funds purchased and retail repurchase agreements 40,652 40,652 — 40,652 — Federal Home Loan Bank advances 410,093 410,093 — 410,093 — Bank stock loan 14,770 14,770 — 14,770 — Subordinated debentures 14,485 14,485 — 14,485 — Contractual obligations 3,744 3,744 — 3,744 — Interest payable 4,821 4,821 — 4,821 — Derivative liabilities 5,376 5,376 — 5,376 — Cash collateral held by derivative counterparty and netting adjustments (5,376 ) (5,376 ) (5,376 ) — — Total derivative liabilities — — (5,376 ) 5,376 — Total liabilities $ 3,595,494 $ 3,604,588 $ (5,376 ) $ 3,609,964 $ — December 31, 2018 Carrying Amount Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 192,818 $ 192,818 $ 192,818 $ — $ — Interest-bearing time deposits in other banks 4,991 4,991 — 4,991 — Available-for-sale securities 168,875 168,875 — 168,875 — Held-to-maturity securities 748,356 739,989 — 739,989 — Loans held for sale 2,972 2,972 — 2,972 — Loans, net of allowance for loan losses 2,563,954 2,565,526 — — 2,565,526 Federal Reserve Bank and Federal Home Loan Bank stock 29,214 N/A N/A N/A N/A Interest receivable 17,372 17,372 — 17,372 — Derivative assets 933 933 — 933 — Cash collateral held by derivative counterparty and netting adjustments (242 ) (242 ) (242 ) — — Total derivative assets 691 691 (242 ) 933 — Equity securities with readily determinable fair value 475 475 475 — — Total assets $ 3,729,718 $ 3,693,709 $ 193,051 $ 935,132 $ 2,565,526 Financial liabilities: Deposits $ 3,123,447 $ 3,124,654 $ — $ 3,124,654 $ — Federal funds purchased and retail repurchase agreements 50,068 50,068 — 50,068 — Federal Home Loan Bank advances 384,898 384,898 — 384,898 — Bank stock loan 15,450 15,450 — 15,450 — Subordinated debentures 14,260 14,260 — 14,260 — Contractual obligations 3,965 3,965 — 3,965 — Interest payable 3,648 3,648 — 3,648 — Derivative liabilities 777 777 — 777 — Cash collateral held by derivative counterparty and netting adjustments (252 ) (252 ) (252 ) — — Total derivative liabilities 525 525 (252 ) 777 — Total liabilities $ 3,596,261 $ 3,597,468 $ (252 ) $ 3,597,720 $ — |
COMMITMENTS AND CREDIT RISK (Ta
COMMITMENTS AND CREDIT RISK (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit | The contractual amounts of commitments to originate loans and available lines of credit as of September 30, 2019 and December 31, 2018 were as follows. September 30, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 20,568 $ 176,297 $ 29,543 $ 171,857 Mortgage loans in the process of origination 11,691 5,966 6,785 2,860 Unused lines of credit 89,245 156,375 92,225 167,218 The contractual amounts of standby letters of credit as of September 30, 2019 and December 31, 2018 were as follows. September 30, 2019 December 31, 2018 Fixed Rate Variable Rate Fixed Rate Variable Rate Standby letters of credit $ 2,923 $ 2,959 $ 4,474 $ 2,716 |
REVENUE RECOGNITION (Tables)
REVENUE RECOGNITION (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Standards Update 2014-09 [Member] | |
Disaggregation Of Revenue [Line Items] | |
Summary of Company's Source of Non-interest Income | Except for gains or losses from the sale of other real estate owned, all of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income. The following table presents the Company’s sources of non-interest income for the three and nine-month periods ended September 30, 2019, and 2018. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Non-interest income Service charges and fees $ 2,268 $ 1,912 $ 6,431 $ 5,221 Debit card income 2,205 1,667 6,129 4,442 Mortgage banking (a) 820 392 1,699 1,017 Increase in bank-owned life insurance (a) 507 521 1,494 1,681 Net gain (loss) from securities transactions (a) 4 (4 ) 17 (14 ) Other Investment referral income 165 121 489 301 Trust income 61 20 181 20 Insurance sales commissions 61 85 106 147 Recovery on zero-basis purchased loans (a) 28 248 106 381 Income from equity method investments (a) 10 7 23 6 Other non-interest income related to loans and deposits 440 436 1,659 1,056 Other non-interest income not related to loans and deposits (a) 3 28 13 18 Total other non-interest income 768 945 2,577 1,929 Total $ 6,572 $ 5,433 $ 18,347 $ 14,276 ( a) |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) - MidFirst Bank [Member] | 9 Months Ended |
Sep. 30, 2019 | |
Business Acquisition [Line Items] | |
Summary of the Consideration Paid and the Amounts of the Assets Acquired and Liabilities Assumed Recognized at the Acquisition Date | The following table summarizes the consideration paid for the MidFirst assets acquired and liabilities assumed recognized at the acquisition date. Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and due from banks $ 85,360 Loans 6,507 Premises and equipment 656 Core deposit intangible 1,350 Other assets 13 Total assets acquired 93,886 Deposits 98,543 Interest payable and other liabilities 63 Total liabilities assumed 98,606 Total identifiable net assets (4,720 ) Goodwill 4,720 $ — |
Schedule Of Acquisitions By Acquisition At Acquisition Date | The following table presents information about the loans acquired in the MidFirst acquisition as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Contractually required principal $ 6,770 $ — Non-accretable difference (expected losses) — — Cash flows expected to be collected 6,770 — Accretable yield (263 ) — Fair value of acquired loans $ 6,507 $ — |
Schedule Of Carrying Amounts Of Purchased Loans At Acquisition | The following table presents the carrying value of the loans acquired in the MidFirst acquisition by class, as of the date of acquisition. Non-Credit Impaired Purchased Credit Impaired Total Commercial real estate $ 668 $ — $ 668 Commercial and industrial 34 — 34 Residential real estate 3,271 — 3,271 Agricultural real estate — — — Consumer 2,534 — 2,534 Agricultural — — — Fair value of acquired loans $ 6,507 $ — $ 6,507 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2019 | Dec. 31, 2018 | Sep. 30, 2019 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Operating right of use assets | $ 3,075 | ||
Operating lease liabilities | $ 3,031 | ||
ASU 2016-02 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Operating right of use assets | $ 3,251 | ||
Operating lease liabilities | 3,251 | ||
ASU 2017-08 [Member] | Retained Earnings [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | 1,148 | ||
ASU 2017-08 [Member] | Amortized Cost of Investment Securities [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | 1,385 | ||
ASU 2017-08 [Member] | Deferred Taxes [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Reduction in the amortized cost of investment securities leads to reduction of retained earnings and net of deferred taxes | $ 237 | ||
ASU 2018-15 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Cloud computing implementation cost | $ 311 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 152,068 | $ 173,503 |
Available-for-Sale, Gross Unrealized Gains | 1,024 | 12 |
Available-for-Sale, Gross Unrealized Losses | (412) | (4,640) |
Available-for-Sale, Fair Value | 152,680 | 168,875 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-Sale, Amortized Cost | 152,068 | 173,503 |
Available-for-Sale, Gross Unrealized Gains | 1,024 | 12 |
Available-for-Sale, Gross Unrealized Losses | (412) | (4,640) |
Available-for-Sale, Fair Value | $ 152,680 | $ 168,875 |
Securities - Amortized Cost a_2
Securities - Amortized Cost and Fair Value of Securities Held-to-Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | $ 764,163 | $ 748,356 |
Held-to-Maturity, Gross Unrecognized Gains | 15,550 | 3,399 |
Held-to-Maturity, Gross Unrecognized Losses | (747) | (11,766) |
Held-to-Maturity, Fair Value | 778,966 | 739,989 |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 2,739 | 3,873 |
Held-to-Maturity, Gross Unrecognized Gains | 25 | 7 |
Held-to-Maturity, Gross Unrecognized Losses | (4) | (20) |
Held-to-Maturity, Fair Value | 2,760 | 3,860 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 584,230 | 567,766 |
Held-to-Maturity, Gross Unrecognized Gains | 11,339 | 2,354 |
Held-to-Maturity, Gross Unrecognized Losses | (681) | (9,653) |
Held-to-Maturity, Fair Value | 594,888 | 560,467 |
Corporate [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 22,992 | 22,993 |
Held-to-Maturity, Gross Unrecognized Gains | 366 | 234 |
Held-to-Maturity, Gross Unrecognized Losses | (39) | (326) |
Held-to-Maturity, Fair Value | 23,319 | 22,901 |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 1,478 | 1,746 |
Held-to-Maturity, Gross Unrecognized Gains | 37 | |
Held-to-Maturity, Gross Unrecognized Losses | (18) | |
Held-to-Maturity, Fair Value | 1,515 | 1,728 |
State and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-Maturity, Amortized Cost | 152,724 | 151,978 |
Held-to-Maturity, Gross Unrecognized Gains | 3,783 | 804 |
Held-to-Maturity, Gross Unrecognized Losses | (23) | (1,749) |
Held-to-Maturity, Fair Value | $ 156,484 | $ 151,033 |
Securities - Fair Value and Amo
Securities - Fair Value and Amortized Cost of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Investments Debt And Equity Securities [Abstract] | ||
Available-for-Sale, Amortized Cost, Mortgage-backed securities | $ 152,068 | |
Available-for-Sale, Amortized Cost | 152,068 | $ 173,503 |
Available-for-Sale, Fair Value, Mortgage-backed securities | 152,680 | |
Available-for-Sale, Fair Value, Total debt securities | 152,680 | 168,875 |
Held-to-Maturity, Amortized Cost, Within one year | 15,851 | |
Held-to-Maturity, Amortized Cost, One to five years | 33,321 | |
Held-to-Maturity, Amortized Cost, Five to ten years | 54,978 | |
Held-to-Maturity, Amortized Cost, After ten years | 75,783 | |
Held-to-Maturity, Amortized Cost, Mortgage-backed securities | 584,230 | |
Held-to-Maturity, Amortized Cost | 764,163 | 748,356 |
Held-to-Maturity, Fair Value, Within one year | 15,888 | |
Held-to-Maturity, Fair Value, One to five years | 34,018 | |
Held-to-Maturity, Fair Value, Five to ten years | 56,338 | |
Held-to-Maturity, Fair Value, After ten years | 77,834 | |
Held-to-Maturity, Fair Value, Mortgage-backed securities | 594,888 | |
Held-to-Maturity, Fair Value, Total debt securities | $ 778,966 | $ 739,989 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Sep. 30, 2019USD ($)Security | Dec. 31, 2018USD ($) |
Investments Debt And Equity Securities [Abstract] | ||
Carrying value of securities pledged as collateral | $ | $ 750,299 | $ 800,744 |
Number of unrealized loss position, available-for-sale securities | 18 | |
Number of unrealized loss position, held-to-maturity securities | 106 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | $ 9,842 | $ 48,332 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (12) | (575) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 39,655 | 115,844 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (400) | (4,065) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 49,497 | 164,176 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (412) | (4,640) |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 30,472 | 81,067 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (116) | (1,158) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 130,648 | 347,156 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (817) | (12,243) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 161,120 | 428,223 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (933) | (13,401) |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Fair Value | 9,842 | 48,332 |
Total temporarily impaired securities, Available-for-sale securities, Less Than 12 Months, Unrealized Loss | (12) | (575) |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Fair Value | 39,655 | 115,844 |
Total temporarily impaired securities, Available-for-sale securities, 12 Months or More, Unrealized Loss | (400) | (4,065) |
Total temporarily impaired securities, Available-for-sale securities, Fair Value | 49,497 | 164,176 |
Total temporarily impaired securities, Available-for-sale securities, Unrealized Loss | (412) | (4,640) |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 19,383 | 31,270 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (65) | (356) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 128,867 | 294,127 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (811) | (10,579) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 148,250 | 325,397 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (876) | (10,935) |
U.S. Government Sponsored Entities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 1,882 | |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (3) | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 996 | 982 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (4) | (17) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 996 | 2,864 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (4) | (20) |
Corporate [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 7,840 | 7,500 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (39) | (326) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 5,182 | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (49) | |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 7,840 | 12,682 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (39) | (375) |
Small Business Administration Loan Pools [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 818 | |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (8) | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 1,728 | |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (37) | |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 818 | 1,728 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | (8) | (37) |
State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Fair Value | 2,431 | 40,415 |
Total temporarily impaired securities, Held-to-maturity securities, Less Than 12 Months, Unrealized Loss | (4) | (473) |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Fair Value | 785 | 45,137 |
Total temporarily impaired securities, Held-to-maturity securities, 12 Months or More, Unrealized Loss | (2) | (1,561) |
Total temporarily impaired securities, Held-to-maturity securities, Fair Value | 3,216 | 85,552 |
Total temporarily impaired securities, Held-to-maturity securities, Unrealized Loss | $ (6) | $ (2,034) |
Securities - Proceeds from Sale
Securities - Proceeds from Sales and Associated Gains and Losses Reclassified from Other comprehensive Income to Income (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Investments Debt And Equity Securities [Abstract] | |
Proceeds | $ 33,419 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses - Categories of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | $ 2,600,924 | $ 2,575,408 | ||||
Allowance for loan losses | (17,875) | $ (17,777) | (11,454) | $ (11,010) | $ (10,083) | $ (8,498) |
Net loans | 2,583,049 | 2,563,954 | ||||
Commercial Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 1,183,305 | 1,231,217 | ||||
Allowance for loan losses | (4,649) | (4,712) | (4,662) | (4,150) | (3,495) | (2,740) |
Commercial and Industrial [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 585,797 | 601,782 | ||||
Allowance for loan losses | (7,996) | (7,948) | (2,707) | (2,560) | (2,254) | (2,136) |
Residential Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 531,257 | 446,060 | ||||
Allowance for loan losses | (2,679) | (2,908) | (2,320) | (2,608) | (2,663) | (2,262) |
Agricultural Real Estate [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 143,718 | 139,332 | ||||
Allowance for loan losses | (685) | (525) | (391) | (362) | (334) | (319) |
Consumer [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 70,944 | 62,894 | ||||
Allowance for loan losses | (1,345) | (1,344) | (1,070) | (1,043) | (983) | (768) |
Agricultural [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Total loans | 85,903 | 94,123 | ||||
Allowance for loan losses | $ (521) | $ (340) | $ (304) | $ (287) | $ (354) | $ (273) |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | Apr. 22, 2019USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)PoolLoan | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($)Loan |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans | $ 2,583,049 | $ 2,583,049 | $ 2,563,954 | |||
Unamortized balance of merger purchase accounting adjustments | 8,990 | 8,990 | $ 11,372 | |||
Provision for loan losses | $ 14,500 | 679 | $ 1,291 | $ 17,299 | $ 3,211 | |
Troubled debt restructurings | Loan | 0 | 0 | ||||
Consumer Loans [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Over-draft deposit accounts | 916 | $ 916 | $ 1,279 | |||
Purchased Credit Impaired Loans [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Accretable yield | 3,758 | 3,758 | 3,785 | |||
Interest income recognized | 1,479 | 631 | 2,011 | 2,009 | ||
Provision for loan losses | 28 | 612 | 191 | 466 | ||
Residential Real Estate Loan Pools [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans | 161,548 | 161,548 | 64,558 | |||
Payments to acquire loans | $ 130,502 | |||||
Purchased pools of residential real estate | Pool | 8 | |||||
Commercial and Industrial [Member] | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Loans purchased at discount | 666,671 | $ 666,671 | $ 827,676 | |||
Provision for loan losses | $ 49 | $ 287 | $ 13,979 | $ 483 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses - Schedule of Allowance for Loan Losses by Portfolio Segment Allowance (Detail) - USD ($) $ in Thousands | Apr. 22, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | $ 17,777 | $ 10,083 | $ 11,454 | $ 8,498 | |
Provision for loan losses | $ 14,500 | 679 | 1,291 | 17,299 | 3,211 |
Loans charged-off | (1,206) | (723) | (11,888) | (1,741) | |
Recoveries | 625 | 359 | 1,010 | 1,042 | |
Allowance for Loan Losses, Ending Balance | 17,875 | 11,010 | 17,875 | 11,010 | |
Commercial Real Estate [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 4,712 | 3,495 | 4,662 | 2,740 | |
Provision for loan losses | 396 | 734 | 981 | 1,241 | |
Loans charged-off | (506) | (90) | (1,114) | (119) | |
Recoveries | 47 | 11 | 120 | 288 | |
Allowance for Loan Losses, Ending Balance | 4,649 | 4,150 | 4,649 | 4,150 | |
Commercial and Industrial [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 7,948 | 2,254 | 2,707 | 2,136 | |
Provision for loan losses | 49 | 287 | 13,979 | 483 | |
Loans charged-off | (18) | (3) | (8,756) | (89) | |
Recoveries | 17 | 22 | 66 | 30 | |
Allowance for Loan Losses, Ending Balance | 7,996 | 2,560 | 7,996 | 2,560 | |
Residential Real Estate [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 2,908 | 2,663 | 2,320 | 2,262 | |
Provision for loan losses | (324) | (20) | 805 | 455 | |
Loans charged-off | (355) | (91) | (934) | (362) | |
Recoveries | 450 | 56 | 488 | 253 | |
Allowance for Loan Losses, Ending Balance | 2,679 | 2,608 | 2,679 | 2,608 | |
Agricultural Real Estate [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 525 | 334 | 391 | 319 | |
Provision for loan losses | 131 | 28 | 299 | 120 | |
Loans charged-off | (9) | (13) | (43) | (93) | |
Recoveries | 38 | 13 | 38 | 16 | |
Allowance for Loan Losses, Ending Balance | 685 | 362 | 685 | 362 | |
Consumer [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 1,344 | 983 | 1,070 | 768 | |
Provision for loan losses | 241 | 330 | 973 | 865 | |
Loans charged-off | (313) | (526) | (994) | (1,035) | |
Recoveries | 73 | 256 | 296 | 445 | |
Allowance for Loan Losses, Ending Balance | 1,345 | 1,043 | 1,345 | 1,043 | |
Agricultural [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance for Loan Losses, Beginning Balance | 340 | 354 | 304 | 273 | |
Provision for loan losses | 186 | (68) | 262 | 47 | |
Loans charged-off | (5) | (47) | (43) | ||
Recoveries | 1 | 2 | 10 | ||
Allowance for Loan Losses, Ending Balance | $ 521 | $ 287 | $ 521 | $ 287 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | $ 6,359 | $ 912 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 10,417 | 9,634 | ||||
Purchased credit impaired loans, Allowance for loan losses | 1,099 | 908 | ||||
Total Allowance for Loan Losses | 17,875 | $ 17,777 | 11,454 | $ 11,010 | $ 10,083 | $ 8,498 |
Individually evaluated for impairment | 37,838 | 36,563 | ||||
Collectively evaluated for impairment | 2,534,915 | 2,508,150 | ||||
Purchased credit impaired loans | 28,171 | 30,695 | ||||
Total Loans | 2,600,924 | 2,575,408 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 436 | 242 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 3,343 | 3,695 | ||||
Purchased credit impaired loans, Allowance for loan losses | 870 | 725 | ||||
Total Allowance for Loan Losses | 4,649 | 4,712 | 4,662 | 4,150 | 3,495 | 2,740 |
Individually evaluated for impairment | 5,327 | 4,068 | ||||
Collectively evaluated for impairment | 1,165,740 | 1,213,653 | ||||
Purchased credit impaired loans | 12,238 | 13,496 | ||||
Total Loans | 1,183,305 | 1,231,217 | ||||
Commercial and Industrial [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 5,238 | 185 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 2,744 | 2,493 | ||||
Purchased credit impaired loans, Allowance for loan losses | 14 | 29 | ||||
Total Allowance for Loan Losses | 7,996 | 7,948 | 2,707 | 2,560 | 2,254 | 2,136 |
Individually evaluated for impairment | 21,341 | 24,275 | ||||
Collectively evaluated for impairment | 558,958 | 571,171 | ||||
Purchased credit impaired loans | 5,498 | 6,336 | ||||
Total Loans | 585,797 | 601,782 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 364 | 391 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 2,293 | 1,861 | ||||
Purchased credit impaired loans, Allowance for loan losses | 22 | 68 | ||||
Total Allowance for Loan Losses | 2,679 | 2,908 | 2,320 | 2,608 | 2,663 | 2,262 |
Individually evaluated for impairment | 8,682 | 4,434 | ||||
Collectively evaluated for impairment | 519,818 | 438,739 | ||||
Purchased credit impaired loans | 2,757 | 2,887 | ||||
Total Loans | 531,257 | 446,060 | ||||
Agricultural Real Estate [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 157 | 22 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 430 | 367 | ||||
Purchased credit impaired loans, Allowance for loan losses | 98 | 2 | ||||
Total Allowance for Loan Losses | 685 | 525 | 391 | 362 | 334 | 319 |
Individually evaluated for impairment | 1,115 | 856 | ||||
Collectively evaluated for impairment | 137,063 | 133,415 | ||||
Purchased credit impaired loans | 5,540 | 5,061 | ||||
Total Loans | 143,718 | 139,332 | ||||
Consumer [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 63 | 62 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 1,282 | 925 | ||||
Purchased credit impaired loans, Allowance for loan losses | 83 | |||||
Total Allowance for Loan Losses | 1,345 | 1,344 | 1,070 | 1,043 | 983 | 768 |
Individually evaluated for impairment | 624 | 678 | ||||
Collectively evaluated for impairment | 70,292 | 61,978 | ||||
Purchased credit impaired loans | 28 | 238 | ||||
Total Loans | 70,944 | 62,894 | ||||
Agricultural [Member] | ||||||
Financing Receivable Impaired [Line Items] | ||||||
Individually evaluated for impairment, Allowance for loan losses | 101 | 10 | ||||
Collectively evaluated for impairment, Allowance for loan losses | 325 | 293 | ||||
Purchased credit impaired loans, Allowance for loan losses | 95 | 1 | ||||
Total Allowance for Loan Losses | 521 | $ 340 | 304 | $ 287 | $ 354 | $ 273 |
Individually evaluated for impairment | 749 | 2,252 | ||||
Collectively evaluated for impairment | 83,044 | 89,194 | ||||
Purchased credit impaired loans | 2,110 | 2,677 | ||||
Total Loans | $ 85,903 | $ 94,123 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses - Impaired Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | $ 9,912 | $ 9,912 | $ 27,774 | ||
With no related allowance recorded, Recorded Investment | 9,481 | 9,481 | 27,671 | ||
With an allowance recorded, Unpaid Principal Balance | 37,707 | 37,707 | 17,456 | ||
With an allowance recorded, Recorded Investment | 35,276 | 35,276 | 14,879 | ||
Allowance for Loan Losses Allocated | 7,458 | 7,458 | 1,820 | ||
Unpaid Principal Balance | 47,619 | 47,619 | 45,230 | ||
Recorded Investment | 44,757 | 44,757 | 42,550 | ||
With no related allowance recorded, Average Recorded Investment | 13,861 | $ 10,289 | 15,787 | $ 10,372 | |
With no related allowance recorded, Interest Income Recognized | 22 | 26 | 137 | 250 | |
With an allowance recorded, Average Recorded Investment | 35,141 | 8,515 | 34,975 | 8,262 | |
With an allowance recorded, Interest Income Recognized | 35 | 112 | 127 | 145 | |
Average Recorded Investment | 49,002 | 18,804 | 50,762 | 18,634 | |
Interest Income Recognized | 57 | 138 | 264 | 395 | |
Commercial Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 3,287 | 3,287 | 1,685 | ||
With no related allowance recorded, Recorded Investment | 2,962 | 2,962 | 1,647 | ||
With an allowance recorded, Unpaid Principal Balance | 8,434 | 8,434 | 8,700 | ||
With an allowance recorded, Recorded Investment | 6,830 | 6,830 | 7,179 | ||
Allowance for Loan Losses Allocated | 1,305 | 1,305 | 967 | ||
With no related allowance recorded, Average Recorded Investment | 3,327 | 1,938 | 7,427 | 1,840 | |
With no related allowance recorded, Interest Income Recognized | 3 | 14 | 82 | 132 | |
With an allowance recorded, Average Recorded Investment | 7,032 | 2,463 | 7,140 | 1,847 | |
With an allowance recorded, Interest Income Recognized | 79 | 74 | 81 | ||
Commercial and Industrial [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 557 | 557 | 22,701 | ||
With no related allowance recorded, Recorded Investment | 546 | 546 | 22,651 | ||
With an allowance recorded, Unpaid Principal Balance | 21,108 | 21,108 | 2,255 | ||
With an allowance recorded, Recorded Investment | 20,933 | 20,933 | 1,911 | ||
Allowance for Loan Losses Allocated | 5,252 | 5,252 | 214 | ||
With no related allowance recorded, Average Recorded Investment | 808 | 4,664 | 2,064 | 6,188 | |
With no related allowance recorded, Interest Income Recognized | 5 | 66 | |||
With an allowance recorded, Average Recorded Investment | 21,066 | 856 | 18,528 | 858 | |
With an allowance recorded, Interest Income Recognized | 9 | 16 | 12 | 16 | |
Residential Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 5,072 | 5,072 | 533 | ||
With no related allowance recorded, Recorded Investment | 5,040 | 5,040 | 527 | ||
With an allowance recorded, Unpaid Principal Balance | 4,073 | 4,073 | 4,934 | ||
With an allowance recorded, Recorded Investment | 3,859 | 3,859 | 4,582 | ||
Allowance for Loan Losses Allocated | 387 | 387 | 459 | ||
With no related allowance recorded, Average Recorded Investment | 7,800 | 918 | 4,161 | 798 | |
With no related allowance recorded, Interest Income Recognized | 19 | 6 | 50 | 16 | |
With an allowance recorded, Average Recorded Investment | 3,891 | 4,309 | 6,965 | 4,090 | |
With an allowance recorded, Interest Income Recognized | 20 | 16 | 28 | 38 | |
Agricultural Real Estate [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 964 | 964 | 2,038 | ||
With no related allowance recorded, Recorded Investment | 933 | 933 | 2,035 | ||
With an allowance recorded, Unpaid Principal Balance | 1,560 | 1,560 | 261 | ||
With an allowance recorded, Recorded Investment | 1,439 | 1,439 | 242 | ||
Allowance for Loan Losses Allocated | 255 | 255 | 24 | ||
With no related allowance recorded, Average Recorded Investment | 1,750 | 2,299 | 1,804 | 1,196 | |
With no related allowance recorded, Interest Income Recognized | 6 | 18 | |||
With an allowance recorded, Average Recorded Investment | 1,296 | 264 | 907 | 476 | |
With an allowance recorded, Interest Income Recognized | 2 | 2 | 2 | ||
Consumer [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 32 | 32 | 61 | ||
With no related allowance recorded, Recorded Investment | 55 | ||||
With an allowance recorded, Unpaid Principal Balance | 689 | 689 | 1,144 | ||
With an allowance recorded, Recorded Investment | 624 | 624 | 859 | ||
Allowance for Loan Losses Allocated | 63 | 63 | 145 | ||
With no related allowance recorded, Average Recorded Investment | 15 | 53 | 31 | 26 | |
With an allowance recorded, Average Recorded Investment | 728 | 480 | 772 | 495 | |
With an allowance recorded, Interest Income Recognized | 4 | 1 | 9 | 4 | |
Agricultural [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
With no related allowance recorded, Unpaid Principal Balance | 756 | ||||
With no related allowance recorded, Recorded Investment | 756 | ||||
With an allowance recorded, Unpaid Principal Balance | 1,843 | 1,843 | 162 | ||
With an allowance recorded, Recorded Investment | 1,591 | 1,591 | 106 | ||
Allowance for Loan Losses Allocated | 196 | 196 | $ 11 | ||
With no related allowance recorded, Average Recorded Investment | 161 | 417 | 300 | 324 | |
With no related allowance recorded, Interest Income Recognized | 18 | ||||
With an allowance recorded, Average Recorded Investment | $ 1,128 | $ 143 | 663 | 496 | |
With an allowance recorded, Interest Income Recognized | $ 2 | $ 4 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses - Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | $ 52 | $ 18 |
Nonaccrual | 51,019 | 33,203 |
Loans Not Past Due | 2,542,967 | 2,533,803 |
Total Loans | 2,600,924 | 2,575,408 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 4,092 | 3,280 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 2,794 | 5,104 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 12,311 | 12,768 |
Loans Not Past Due | 1,167,776 | 1,216,888 |
Total Loans | 1,183,305 | 1,231,217 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 2,514 | 1,302 |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 704 | 259 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 21,945 | 6,954 |
Loans Not Past Due | 563,124 | 591,852 |
Total Loans | 585,797 | 601,782 |
Commercial and Industrial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 413 | 509 |
Commercial and Industrial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 315 | 2,467 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | 3 | 18 |
Nonaccrual | 9,342 | 5,257 |
Loans Not Past Due | 519,551 | 437,815 |
Total Loans | 531,257 | 446,060 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 779 | 782 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 1,582 | 2,188 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 5,206 | 4,857 |
Loans Not Past Due | 138,399 | 134,445 |
Total Loans | 143,718 | 139,332 |
Agricultural Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 67 | |
Agricultural Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 46 | 30 |
Consumer [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Greater Than 90 Days Past Due Still On Accrual | 49 | |
Nonaccrual | 624 | 914 |
Loans Not Past Due | 69,878 | 61,322 |
Total Loans | 70,944 | 62,894 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 246 | 501 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | 147 | 157 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Nonaccrual | 1,591 | 2,453 |
Loans Not Past Due | 84,239 | 91,481 |
Total Loans | 85,903 | 94,123 |
Agricultural [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | $ 73 | 186 |
Agricultural [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing Receivables, Past Due | $ 3 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses - Schedule of Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 2,600,924 | $ 2,575,408 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,505,051 | 2,489,353 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 95,873 | 86,055 |
Commercial Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,183,305 | 1,231,217 |
Commercial Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,165,707 | 1,194,240 |
Commercial Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17,598 | 36,977 |
Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 585,797 | 601,782 |
Commercial and Industrial [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 535,939 | 572,300 |
Commercial and Industrial [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 49,858 | 29,482 |
Residential Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 531,257 | 446,060 |
Residential Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 521,906 | 440,704 |
Residential Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,351 | 5,356 |
Agricultural Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 143,718 | 139,332 |
Agricultural Real Estate [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 130,920 | 129,285 |
Agricultural Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,798 | 10,047 |
Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 70,944 | 62,894 |
Consumer [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 70,320 | 61,976 |
Consumer [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 624 | 918 |
Agricultural [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 85,903 | 94,123 |
Agricultural [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 80,259 | 90,848 |
Agricultural [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 5,644 | $ 3,275 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses - Schedule of Recorded Investments in Purchase Credit Impaired Loans (Detail) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period [Line Items] | ||
Contractually required principal payments | $ 36,150 | $ 40,772 |
Discount | (7,979) | (10,077) |
Recorded investment | $ 28,171 | $ 30,695 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, cap interest rate | 4.50% | 4.50% |
Interest Rate Swaps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 9 years | 7 years 7 months 6 days |
Weighted average pay rate | 5.04% | 5.18% |
Weighted average receive rate | 5.04% | 5.18% |
Interest Rate Swaps [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 7 years 6 months | 7 years 8 months 12 days |
Weighted average pay rate | 5.19% | 4.94% |
Weighted average receive rate | 5.10% | 5.10% |
Interest Rate Caps [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Weighted average maturity period | 1 month 6 days | 10 months 24 days |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Notional Balance and Fair Values of Derivatives Outstanding (Detail) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 122,729,000 | $ 57,080,000 |
Derivative Assets | 4,539,000 | 933,000 |
Derivative Liabilities | 5,376,000 | 777,000 |
Cash collateral, Derivative Assets | (531,000) | |
Cash collateral, Derivative Liabilities | (5,740,000) | (541,000) |
Netting adjustments, Derivative Assets | 364,000 | 289,000 |
Netting adjustments, Derivative Liabilities | 364,000 | 289,000 |
Net amount presented in Balance Sheet, Derivative Assets | 4,903,000 | 691,000 |
Net amount presented in Balance Sheet, Derivative Liabilities | 525,000 | |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 5,848,000 | 16,743,000 |
Derivative Assets | 3,000 | 242,000 |
Derivative Liabilities | 251,000 | |
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 5,848,000 | 16,743,000 |
Derivative Assets | 3,000 | 242,000 |
Derivative Liabilities | 251,000 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 116,881,000 | 40,337,000 |
Derivative Assets | 4,536,000 | 691,000 |
Derivative Liabilities | 5,125,000 | 777,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | 114,835,000 | 38,073,000 |
Derivative Assets | 4,536,000 | 690,000 |
Derivative Liabilities | 5,125,000 | 777,000 |
Not Designated as Hedging Instrument [Member] | Interest Rate Caps/Floors [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Amount | $ 2,046,000 | 2,264,000 |
Derivative Assets | $ 1,000 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Summary of Designated and Qualifying Hedged Items in Fair Value Hedges (Detail) $ in Thousands | Sep. 30, 2019USD ($) |
Derivative [Line Items] | |
Carrying Amount | $ 6,094 |
Hedging Fair Value Adjustment | 248 |
Commercial Real Estate [Member] | |
Derivative [Line Items] | |
Carrying Amount | 6,094 |
Hedging Fair Value Adjustment | $ 248 |
Derivative Financial Instrume_6
Derivative Financial Instruments - Summary of Net Gains/ (Losses) on Derivatives and Hedging Activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivatives designated as hedging instruments: | ||||
Total net gain (loss) related to fair value hedge ineffectiveness | $ 0 | $ 0 | $ 0 | $ 0 |
Derivatives not designated as hedging instruments: | ||||
Total net gains (losses) related to derivatives not designated as hedging instruments | (180) | 82 | (502) | 82 |
Net gains (losses) on derivatives and hedging activities | (180) | 82 | (502) | 82 |
Interest Rate Swaps [Member] | ||||
Derivatives designated as hedging instruments: | ||||
Total net gain (loss) related to fair value hedge ineffectiveness | 0 | 0 | 0 | 0 |
Derivatives not designated as hedging instruments: | ||||
Total net gains (losses) related to derivatives not designated as hedging instruments | $ (180) | $ 82 | (501) | $ 82 |
Interest Rate Caps/Floors [Member] | ||||
Derivatives not designated as hedging instruments: | ||||
Total net gains (losses) related to derivatives not designated as hedging instruments | $ (1) |
Derivative Financial Instrume_7
Derivative Financial Instruments - Summary of Recorded Net Gains (Losses) on Derivatives and Related Hedged Items in Fair Value Hedging Relationships (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Fair Value Hedge Gain/(Loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(Loss) on Derivatives | 307 | 157 | (489) | 740 |
Gain/(Loss) on Hedged Items | (307) | (157) | 489 | (740) |
Net Fair Value Hedge Gain/(Loss) | 0 | 0 | 0 | 0 |
Effect of Derivatives on Net Interest Income | 2 | (6) | 21 | (44) |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(Loss) on Derivatives | 307 | 157 | (489) | 740 |
Gain/(Loss) on Hedged Items | (307) | (157) | 489 | (740) |
Net Fair Value Hedge Gain/(Loss) | 0 | 0 | 0 | 0 |
Effect of Derivatives on Net Interest Income | $ 2 | $ (6) | $ 21 | $ (44) |
Lease Obligations - Additional
Lease Obligations - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jan. 01, 2019 | |
Lessee Lease Description [Line Items] | ||||
Operating lease liabilities | $ 3,031 | |||
Operating lease, right-of-use asset | $ 3,075 | |||
Sales-type lease, lease not yet commenced description | There were no sales and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the three or nine-month periods ended September 30, 2019. | |||
ASU 2016-02 [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating lease liabilities | $ 3,251 | |||
Operating lease, right-of-use asset | $ 3,251 | |||
Operating lease, rent expense | $ 189 | $ 512 |
Lease Obligations - Schedule of
Lease Obligations - Schedule of Right-of-use Asset and Lease Obligations by Type of Property (Detail) $ in Thousands | Sep. 30, 2019USD ($) |
Leases Disclosure [Line Items] | |
Right-of-Use Asset | $ 3,075 |
Lease Liability | $ 3,031 |
Weighted Average Lease Term in Years | 13 years 9 months 18 days |
Weighted Average Discount Rate | 3.08% |
Land and Building Leases [Member] | |
Leases Disclosure [Line Items] | |
Right-of-Use Asset | $ 3,048 |
Lease Liability | $ 2,998 |
Weighted Average Lease Term in Years | 13 years 10 months 24 days |
Weighted Average Discount Rate | 3.08% |
Equipment Leases [Member] | |
Leases Disclosure [Line Items] | |
Right-of-Use Asset | $ 27 |
Lease Liability | $ 33 |
Weighted Average Lease Term in Years | 2 years 3 months 18 days |
Weighted Average Discount Rate | 2.59% |
Lease Obligations - Schedule _2
Lease Obligations - Schedule of Operating Lease Costs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 185 | $ 540 |
Variable lease cost | 12 | 35 |
Total operating lease cost | $ 197 | $ 575 |
Lease Obligations - Schedule _3
Lease Obligations - Schedule of Maturity Analysis of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows to Total Operating Lease Liability (Detail) $ in Thousands | Sep. 30, 2019USD ($) |
Leases [Abstract] | |
Due in one year or less | $ 628 |
Due after one year through two years | 488 |
Due after two years through three years | 431 |
Due after three years through four years | 357 |
Due after four years through five years | 163 |
Thereafter | 1,815 |
Total undiscounted cash flows | 3,882 |
Discount on cash flows | (851) |
Total operating lease liability | $ 3,031 |
Borrowings - Schedule of Federa
Borrowings - Schedule of Federal Funds Purchased and Retail Repurchase Agreements (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase [Abstract] | ||
Federal funds purchased | $ 0 | $ 0 |
Retail repurchase agreements | $ 40,652 | $ 50,068 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | Mar. 13, 2017 | Sep. 30, 2019 | Mar. 11, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||||
Line of credit facility maximum borrowing capacity | $ 30,000,000 | $ 40,000,000 | ||
Debt Instrument, Maturity Date | May 15, 2020 | |||
Debt Instrument, Term | 5 years | |||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | |||
Subordinated Debentures | Fcb Capital Trust Two | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Apr. 15, 2035 | |||
Subordinated Debentures | Fcb Capital Trust Two | Three Month Libor | ||||
Debt Instrument [Line Items] | ||||
Subordinated debenture basis spread on variable rate | 2.00% | |||
Subordinated Debentures | Fcb Capital Trust Three | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Jun. 15, 2037 | |||
Subordinated Debentures | Fcb Capital Trust Three | Three Month Libor | ||||
Debt Instrument [Line Items] | ||||
Subordinated debenture basis spread on variable rate | 1.89% | |||
Subordinated Debentures | Community First Statutory Trust One | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Dec. 26, 2032 | |||
Subordinated Debentures | Community First Statutory Trust One | Three Month Libor | ||||
Debt Instrument [Line Items] | ||||
Subordinated debenture basis spread on variable rate | 3.25% | |||
Federal Home Loan Bank Advances [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility maximum borrowing capacity | $ 864,569,000 | $ 951,196,000 | ||
Line of credit facility additional borrowing capacity | 415,089,000 | 534,627,000 | ||
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||||
Debt Instrument [Line Items] | ||||
Residential mortgage-backed securities, fair value | $ 49,571,000 | $ 51,701,000 |
Borrowings - Schedule of Borrow
Borrowings - Schedule of Borrowing Usage and Interest Rate (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Disclosure [Abstract] | ||
Year-to-date average daily balance during the period | $ 43,054 | $ 43,536 |
Maximum month-end balance year-to-date | $ 45,575 | $ 53,815 |
Weighted average interest rate at period-end | 0.46% | 0.28% |
Borrowings - Summary of Federal
Borrowings - Summary of Federal Home Loan Bank Advances (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 410,093 | $ 384,898 |
Federal Home Loan Bank Line of Credit Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 396,223 | $ 368,770 |
Total Federal Home Loan Bank advances, Weighted Average Rate | 2.20% | 2.65% |
Federal Home Loan Bank Fixed Rate Term Advances [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 13,809 | $ 16,049 |
Total Federal Home Loan Bank advances, Weighted Average Rate | 2.80% | 2.81% |
Total Federal Home Loan Bank advances, Weighted Average Term in Years | 2 years 9 months 18 days | 3 years 1 month 6 days |
Total Principal Outstanding [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 410,032 | $ 384,819 |
Merger Purchase Accounting Adjustment [Member] | ||
Federal Home Loan Bank Advances [Line Items] | ||
Total Federal Home Loan Bank advances | $ 61 | $ 79 |
Borrowings - Schedule of Future
Borrowings - Schedule of Future Principal Repayments (Detail) $ in Thousands | Sep. 30, 2019USD ($) |
Federal Home Loan Bank Advances [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | $ 399,211 |
Due after one year through two years | 2,357 |
Due after two years through three years | 2,357 |
Due after three years through four years | 2,357 |
Due after four years through five years | 2,107 |
Thereafter | 1,643 |
Total | 410,032 |
Bank Stock Loan [Member] | |
Debt Instrument Redemption [Line Items] | |
Due in one year or less | 2,326 |
Due after one year through two years | 2,326 |
Due after two years through three years | 2,326 |
Due after three years through four years | 3,626 |
Due after four years through five years | 4,166 |
Total | $ 14,770 |
Borrowings - Schedule of Bank S
Borrowings - Schedule of Bank Stock Loan Advances (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Instrument Redemption [Line Items] | ||
Bank stock loan | $ 14,770 | $ 15,450 |
Bank Stock Loan [Member] | ||
Debt Instrument Redemption [Line Items] | ||
Bank stock loan | $ 14,770 | $ 15,450 |
Bank stock loan, Weighted Average Rate | 5.00% | 5.50% |
Bank stock loan, Weighted Average Term in Years | 4 years 2 months 12 days | 4 years 6 months |
Borrowings - Schedule of Subord
Borrowings - Schedule of Subordinated Debentures (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures | $ 14,485 | $ 14,260 |
Subordinated Debentures | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | 20,620 | 20,620 |
Subordinated debentures fair market value adjustments | (6,135) | (6,360) |
Subordinated debentures | 14,485 | 14,260 |
Fcb Capital Trust Two | Subordinated Debentures | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 10,310 | $ 10,310 |
Subordinated debentures, Weighted Average Rate | 4.30% | 4.44% |
Subordinated debentures, Weighted Average Term | 15 years 7 months 6 days | 16 years 3 months 18 days |
Fcb Capital Trust Three | Subordinated Debentures | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 5,155 | $ 5,155 |
Subordinated debentures, Weighted Average Rate | 4.01% | 4.68% |
Subordinated debentures, Weighted Average Term | 17 years 8 months 12 days | 18 years 6 months |
Community First Statutory Trust One | Subordinated Debentures | ||
Debt Instrument Redemption [Line Items] | ||
Subordinated debentures contractual balance | $ 5,155 | $ 5,155 |
Subordinated debentures, Weighted Average Rate | 5.36% | 6.07% |
Subordinated debentures, Weighted Average Term | 13 years 2 months 12 days | 14 years |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jan. 27, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Apr. 18, 2019 | Dec. 31, 2018 |
Class of Stock [Line Items] | ||||||
Number of preferred stock shares authorized | 10,000,000 | 10,000,000 | ||||
Preferred Stock, shares outstanding | 0 | 0 | 0 | |||
ESPP compensation expense | $ 2,349 | $ 1,950 | ||||
Repurchase of shares | 143,210 | |||||
Outstanding common stock at an average price paid per Share | $ 25.55 | |||||
Employee stock loan amount | $ 77 | $ 77 | $ 121 | |||
Employee stock loan maturity date | Dec. 31, 2019 | |||||
Employee stock loan interest rate | 2.72% | 2.72% | ||||
Common Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock issued under employee stock purchase plan, share | 19,221 | 19,221 | ||||
Repurchase of shares | 143,210 | 421,016 | ||||
Outstanding common stock at an average price paid per Share | $ 25.81 | |||||
Maximum [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of shares authorized to be repurchased | 1,100,000 | |||||
ESPP [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock reserved for future issuance | 500,000 | |||||
Percentage of common stock price per share equal to lower of fair market value of common stock | 85.00% | |||||
First offering period, start date | Feb. 15, 2019 | |||||
First offering period, end date | Aug. 14, 2019 | |||||
Second offering period, start date | Aug. 15, 2019 | |||||
Second offering period, end date | Feb. 14, 2020 | |||||
Common stock issued under employee stock purchase plan, share | 19,221 | |||||
Shares Issued, Price Per Share | $ 21.07 | $ 21.07 | ||||
ESPP compensation expense | $ 27 | $ 89 | ||||
Class A Common Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of common stock shares authorized | 45,000,000 | 45,000,000 | ||||
Shares issued, par value | $ 0.01 | $ 0.01 | ||||
Class B Common Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of common stock shares authorized | 5,000,000 | 5,000,000 | ||||
Shares issued, par value | $ 0.01 | $ 0.01 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Shares Issued and Held in Treasury or Outstanding (Detail) - shares | Sep. 30, 2019 | Dec. 31, 2018 |
Class A Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock - issued | 17,132,393 | 17,064,138 |
Common stock - held in treasury | (1,692,059) | (1,271,043) |
Common stock - outstanding | 15,440,334 | 15,793,095 |
Class B Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common stock - issued | 234,903 | 234,903 |
Common stock - held in treasury | (234,903) | (234,903) |
Common stock - outstanding | 0 | 0 |
Stockholders' Equity - Componen
Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | $ (423) | $ (4,867) |
Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (565) | (6,519) |
Tax effect | 142 | 1,652 |
Available for Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | 458 | (3,455) |
Available for Sale Securities [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | 612 | (4,628) |
Tax effect | (154) | 1,173 |
Held to Maturity Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total | (881) | (1,412) |
Held to Maturity Securities [Member] | Accumulated Net Unrealized Investment Gain (Losses) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net unrealized or unamortized gains (losses) | (1,177) | (1,891) |
Tax effect | $ 296 | $ 479 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) | 1 Months Ended | 9 Months Ended |
Jan. 31, 2016 | Sep. 30, 2019 | |
Regulated Operations [Abstract] | ||
Capital conservation buffer desired rate | 2.50% | |
Capital conservation buffer yearly increase | 0.625% | 0.625% |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Company's and Equity Bank's Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Equity Bancshares, Inc. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 347,082 | $ 337,649 |
Total capital to risk weighted assets, Actual Ratio | 12.21% | 11.86% |
Tier 1 capital to risk weighted assets, Actual Amount | $ 329,207 | $ 326,195 |
Tier 1 capital to risk weighted assets, Actual Ratio | 11.59% | 11.45% |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 314,722 | $ 311,935 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 11.08% | 10.95% |
Tier 1 leverage to average assets, Actual Amount | $ 329,207 | $ 326,195 |
Tier 1 leverage to average assets, Actual Ratio | 8.49% | 8.60% |
Equity Bancshares, Inc. [Member] | Base III Phase-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 298,357 | $ 281,222 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 9.88% |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 241,527 | $ 224,266 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 7.88% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 198,905 | $ 181,548 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 6.38% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 155,020 | $ 151,731 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Equity Bancshares, Inc. [Member] | Basel III Fully Phased-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 10.50% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 298,357 | $ 299,021 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 241,527 | $ 242,065 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 8.50% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 198,905 | $ 199,347 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 7.00% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 155,020 | $ 151,731 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Equity Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Actual Amount | $ 342,244 | $ 338,180 |
Total capital to risk weighted assets, Actual Ratio | 12.06% | 11.89% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 283,851 | $ 284,400 |
Total capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 10.00% | 10.00% |
Tier 1 capital to risk weighted assets, Actual Amount | $ 324,369 | $ 326,726 |
Tier 1 capital to risk weighted assets, Actual Ratio | 11.43% | 11.49% |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 227,081 | $ 227,520 |
Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 8.00% | 8.00% |
Common equity Tier 1 capital to risk weighted assets, Actual Amount | $ 324,369 | $ 326,726 |
Common equity Tier 1 capital to risk weighted assets, Actual Ratio | 11.43% | 11.49% |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 184,503 | $ 184,860 |
Common equity Tier 1 capital to risk weighted assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 6.50% | 6.50% |
Tier 1 leverage to average assets, Actual Amount | $ 324,369 | $ 326,726 |
Tier 1 leverage to average assets, Actual Ratio | 8.38% | 8.62% |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Amount | $ 193,473 | $ 189,488 |
Tier 1 leverage to average assets, To Be Well Capitalized Under Prompt Corrective Provisions, Actual Ratio | 5.00% | 5.00% |
Equity Bank [Member] | Base III Phase-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 298,044 | $ 280,845 |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 9.88% |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 241,274 | $ 223,965 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 7.88% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 198,696 | $ 181,305 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 6.38% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 154,778 | $ 151,590 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Equity Bank [Member] | Basel III Fully Phased-In [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 10.50% | 10.50% |
Total capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 298,044 | $ 298,619 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 241,274 | $ 241,740 |
Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 8.50% | 8.50% |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 198,696 | $ 199,080 |
Common equity Tier 1 capital to risk weighted assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 7.00% | 7.00% |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Amount | $ 154,778 | $ 151,590 |
Tier 1 leverage to average assets, Minimum Required for Capital Adequacy Purposes, Actual Ratio | 4.00% | 4.00% |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Basic: | ||||
Net income allocable to common stockholders | $ 10,406 | $ 10,322 | $ 15,565 | $ 25,900 |
Weighted average common shares outstanding | 15,513,969 | 15,787,760 | 15,677,972 | 15,253,589 |
Weighted average vested restricted stock units | 73 | 1,692 | 1,584 | 5,887 |
Weighted average shares | 15,514,042 | 15,789,452 | 15,679,556 | 15,259,476 |
Basic earnings per common share | $ 0.67 | $ 0.65 | $ 0.99 | $ 1.70 |
Diluted: | ||||
Net income allocable to common stockholders | $ 10,406 | $ 10,322 | $ 15,565 | $ 25,900 |
Weighted average common shares outstanding for: | ||||
Basic earnings per common share | 15,514,042 | 15,789,452 | 15,679,556 | 15,259,476 |
Dilutive effects of the assumed exercise of stock options | 178,285 | 316,181 | 201,024 | 300,171 |
Dilutive effects of the assumed vesting of restricted stock units | 15,711 | 30,974 | 16,025 | 18,370 |
Average shares and dilutive potential common shares | 15,708,038 | 16,136,607 | 15,896,605 | 15,578,017 |
Diluted earnings per common share | $ 0.66 | $ 0.64 | $ 0.98 | $ 1.66 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Average Shares Not Included In the Computation of Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 489,221 | 35,305 | 317,719 | 23,425 |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 347,528 | 35,305 | 315,522 | 23,425 |
Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive shares | 141,693 | 2,197 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | $ 152,680 | $ 168,875 |
Cash collateral held by counterparty and netting adjustments | 364 | 289 |
Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | 152,680 | 168,875 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 364 | (242) |
Cash collateral held by counterparty and netting adjustments | 364 | (242) |
Equity securities with readily determinable fair value | 492 | 475 |
Total other assets | 492 | 475 |
Total assets | 856 | 233 |
Derivative liabilities | (5,376) | (252) |
Cash collateral held by counterparty and netting adjustments | (5,376) | (252) |
Total liabilities | (5,376) | (252) |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 4,539 | 933 |
Total assets | 157,219 | 169,808 |
Derivative liabilities | 5,376 | 777 |
Total liabilities | 5,376 | 777 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Assets [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative assets | 4,539 | 933 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Other Liabilities [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Derivative liabilities | 5,376 | 777 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Residential Mortgage-Backed Securities (Issued by Government-Sponsored Entities) [Member] | ||
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Available for sale securities | $ 152,680 | $ 168,875 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair value, level transfers, Amount | $ 0 | $ 0 |
Assets Measured at Fair Value on a Non-recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities measured at fair value on a non-recurring basis | $ 0 | $ 0 |
Fair Value - Summary of Assets
Fair Value - Summary of Assets Measured at Fair Value on Non-recurring Basis (Detail) - Assets Measured at Fair Value on a Non-recurring Basis [Member] - Level 3 [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 13,059 | |
Impaired Loans [Member] | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 5,525 | 6,212 |
Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 15,681 | 1,697 |
Impaired Loans [Member] | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 3,472 | 4,123 |
Impaired Loans [Member] | Agricultural Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,184 | 218 |
Impaired Loans [Member] | Other [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,956 | 809 |
Other Real Estate Owned [Member] | Commercial Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | 1,667 | 1,391 |
Other Real Estate Owned [Member] | Residential Real Estate [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Assets measured at fair value on non-recurring basis | $ 33 | $ 97 |
Fair Value - Summary of Additio
Fair Value - Summary of Additional Information about Unobservable Inputs Used in Fair Value Measurement (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Level 3 [Member] $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Impaired Real Estate Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value | $ 13,553 | |
Alternative Investment, Valuation Technique [Extensible List] | eqbk:SalesComparisonApproachMember | |
Impaired Real Estate Loans [Member] | Minimum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.09 | |
Impaired Real Estate Loans [Member] | Maximum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.26 | |
Impaired Real Estate Loans [Member] | Weighted Average [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.17 | |
Impaired Other Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value | $ 14,265 | |
Alternative Investment, Valuation Technique [Extensible List] | eqbk:MultipleOfEarningsOrDiscountedCashFlowsMember | |
Range | 5.3 | |
Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value | $ 13,059 | |
Alternative Investment, Valuation Technique [Extensible List] | eqbk:SalesComparisonApproachMember | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.04 | |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.22 | |
Impaired Loans [Member] | Weighted Average [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Range | 0.13 |
Fair Value - Carrying Amount an
Fair Value - Carrying Amount and Estimated Fair Values of Financial Instrument (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 168,053 | $ 192,818 |
Interest-bearing time deposits in other banks | 3,497 | 4,991 |
Available-for-sale securities | 152,680 | 168,875 |
Held-to-maturity securities | 764,163 | 748,356 |
Loans held for sale | 8,784 | 2,972 |
Loans, net of allowance for loan losses | 2,583,049 | 2,563,954 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,710 | 29,214 |
Interest receivable | 16,994 | 17,372 |
Derivative assets | 4,539 | 933 |
Total assets | 4,074,663 | 4,061,716 |
Deposits | 3,106,929 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 40,652 | 50,068 |
Federal Home Loan Bank advances | 410,093 | 384,898 |
Bank stock loan | 14,770 | 15,450 |
Subordinated debentures | 14,485 | 14,260 |
Contractual obligations | 3,744 | 3,965 |
Derivative Liabilities | 5,376 | 777 |
Total liabilities | 3,607,613 | 3,605,775 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 168,053 | 192,818 |
Interest-bearing time deposits in other banks | 3,497 | 4,991 |
Available-for-sale securities | 152,680 | 168,875 |
Held-to-maturity securities | 764,163 | 748,356 |
Loans held for sale | 8,784 | 2,972 |
Loans, net of allowance for loan losses | 2,583,049 | 2,563,954 |
Federal Reserve Bank and Federal Home Loan Bank stock | 31,710 | 29,214 |
Interest receivable | 16,994 | 17,372 |
Derivative assets | 4,539 | 933 |
Cash collateral held by derivative counterparty and netting adjustments | 364 | (242) |
Total derivative assets | 4,903 | 691 |
Equity securities with readily determinable fair value | 492 | 475 |
Total assets | 3,734,325 | 3,729,718 |
Deposits | 3,106,929 | 3,123,447 |
Federal funds purchased and retail repurchase agreements | 40,652 | 50,068 |
Federal Home Loan Bank advances | 410,093 | 384,898 |
Bank stock loan | 14,770 | 15,450 |
Subordinated debentures | 14,485 | 14,260 |
Contractual obligations | 3,744 | 3,965 |
Interest payable | 4,821 | 3,648 |
Derivative Liabilities | 5,376 | 777 |
Cash collateral held by derivative counterparty and netting adjustments | (5,376) | (252) |
Total derivative liabilities | 525 | |
Total liabilities | 3,595,494 | 3,596,261 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 168,053 | 192,818 |
Interest-bearing time deposits in other banks | 3,497 | 4,991 |
Available-for-sale securities | 152,680 | 168,875 |
Held-to-maturity securities | 778,966 | 739,989 |
Loans held for sale | 8,784 | 2,972 |
Loans, net of allowance for loan losses | 2,572,294 | 2,565,526 |
Interest receivable | 16,994 | 17,372 |
Derivative assets | 4,539 | 933 |
Cash collateral held by derivative counterparty and netting adjustments | 364 | (242) |
Total derivative assets | 4,903 | 691 |
Equity securities with readily determinable fair value | 492 | 475 |
Deposits | 3,116,023 | 3,124,654 |
Federal funds purchased and retail repurchase agreements | 40,652 | 50,068 |
Federal Home Loan Bank advances | 410,093 | 384,898 |
Bank stock loan | 14,770 | 15,450 |
Subordinated debentures | 14,485 | 14,260 |
Contractual obligations | 3,744 | 3,965 |
Interest payable | 4,821 | 3,648 |
Derivative Liabilities | 5,376 | 777 |
Cash collateral held by derivative counterparty and netting adjustments | (5,376) | (252) |
Total derivative liabilities | 525 | |
Total liabilities | 3,604,588 | 3,597,468 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 168,053 | 192,818 |
Cash collateral held by derivative counterparty and netting adjustments | 364 | (242) |
Total derivative assets | 364 | (242) |
Equity securities with readily determinable fair value | 492 | 475 |
Cash collateral held by derivative counterparty and netting adjustments | (5,376) | (252) |
Total derivative liabilities | (5,376) | (252) |
Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Interest-bearing time deposits in other banks | 3,497 | 4,991 |
Available-for-sale securities | 152,680 | 168,875 |
Held-to-maturity securities | 778,966 | 739,989 |
Loans held for sale | 8,784 | 2,972 |
Interest receivable | 16,994 | 17,372 |
Derivative assets | 4,539 | 933 |
Total derivative assets | 4,539 | 933 |
Deposits | 3,116,023 | 3,124,654 |
Federal funds purchased and retail repurchase agreements | 40,652 | 50,068 |
Federal Home Loan Bank advances | 410,093 | 384,898 |
Bank stock loan | 14,770 | 15,450 |
Subordinated debentures | 14,485 | 14,260 |
Contractual obligations | 3,744 | 3,965 |
Interest payable | 4,821 | 3,648 |
Derivative Liabilities | 5,376 | 777 |
Total derivative liabilities | 5,376 | 777 |
Total liabilities | 3,609,964 | 3,597,720 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net of allowance for loan losses | 2,572,294 | 2,565,526 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 3,706,663 | 3,693,709 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 168,909 | 193,051 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 965,460 | 935,132 |
Fair Value, Measurements, Nonrecurring [Member] | Estimated Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | $ 2,572,294 | $ 2,565,526 |
Commitments and Credit Risk - S
Commitments and Credit Risk - Summary of Contractual Amounts of Commitments and Standby Letters of Credit to Originate Loans and Available Lines of Credit (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Standby Letters of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | $ 2,923 | $ 4,474 |
Loans commitments, Variable Rate | 2,959 | 2,716 |
Commitments to Make Loans [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 20,568 | 29,543 |
Loans commitments, Variable Rate | 176,297 | 171,857 |
Mortgage Loans in the Process of Origination [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 11,691 | 6,785 |
Loans commitments, Variable Rate | 5,966 | 2,860 |
Unused Lines of Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Loans commitments, Fixed Rate | 89,245 | 92,225 |
Loans commitments, Variable Rate | $ 156,375 | $ 167,218 |
Commitments and Credit Risk - A
Commitments and Credit Risk - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2019 | |
Minimum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 3.75% |
Fixed interest rate loan commitments maturity period | 1 month |
Maximum [Member] | |
Commitments And Contingencies [Line Items] | |
Fixed interest rate loan commitments | 8.09% |
Fixed interest rate loan commitments maturity period | 73 months |
Legal Matters - Additional Info
Legal Matters - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 06, 2019 | Apr. 22, 2019 | Jan. 01, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||||||||
Provision for loan losses | $ 14,500 | $ 679 | $ 1,291 | $ 17,299 | $ 3,211 | |||
Subsequent Event [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Loss contingency damages value | $ 1,474 | |||||||
Citi Mortgage, Inc [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Loss contingency damages value | $ 1,129 | |||||||
Obligation to Repurchase Receivables Sold | Citi Mortgage, Inc [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Loss contingency damages value | $ 2,700 | |||||||
Loss contingency, date of dismissal | Jan. 31, 2018 | |||||||
Loss contingency recorded | $ 477 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Company's Source of Non-interest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Non-interest income | |||||
Increase in bank-owned life insurance | $ 507 | $ 521 | $ 1,494 | $ 1,681 | |
Net gain (loss) from securities transactions | 4 | (4) | 17 | (14) | |
Other | |||||
Total non-interest income | 6,572 | 5,433 | 18,347 | 14,276 | |
Service Charges and Fees [Member] | |||||
Non-interest income | |||||
Non-interest income | 2,268 | 1,912 | 6,431 | 5,221 | |
Other | |||||
Non-interest income | 2,268 | 1,912 | 6,431 | 5,221 | |
Debit Card Income [Member] | |||||
Non-interest income | |||||
Non-interest income | 2,205 | 1,667 | 6,129 | 4,442 | |
Other | |||||
Non-interest income | 2,205 | 1,667 | 6,129 | 4,442 | |
Mortgage Banking [Member] | |||||
Non-interest income | |||||
Non-interest income | [1] | 820 | 392 | 1,699 | 1,017 |
Accounting Standards Update 2014-09 [Member] | |||||
Non-interest income | |||||
Increase in bank-owned life insurance | [1] | 507 | 521 | 1,494 | 1,681 |
Net gain (loss) from securities transactions | [1] | 4 | (4) | 17 | (14) |
Other | |||||
Total non-interest income | 6,572 | 5,433 | 18,347 | 14,276 | |
Recovery on zero-basis purchased loans(a) | [1] | 28 | 248 | 106 | 381 |
Income from equity method investments(a) | [1] | 10 | 7 | 23 | 6 |
Other non-interest income not related to loans and deposits(a) | [1] | 3 | 28 | 13 | 18 |
Total other non-interest income | 768 | 945 | 2,577 | 1,929 | |
Accounting Standards Update 2014-09 [Member] | Service Charges and Fees [Member] | |||||
Non-interest income | |||||
Non-interest income | 2,268 | 1,912 | 6,431 | 5,221 | |
Other | |||||
Non-interest income | 2,268 | 1,912 | 6,431 | 5,221 | |
Accounting Standards Update 2014-09 [Member] | Debit Card Income [Member] | |||||
Non-interest income | |||||
Non-interest income | 2,205 | 1,667 | 6,129 | 4,442 | |
Other | |||||
Non-interest income | 2,205 | 1,667 | 6,129 | 4,442 | |
Accounting Standards Update 2014-09 [Member] | Investment Referral Income [Member] | |||||
Non-interest income | |||||
Non-interest income | 165 | 121 | 489 | 301 | |
Other | |||||
Non-interest income | 165 | 121 | 489 | 301 | |
Accounting Standards Update 2014-09 [Member] | Trust Income [Member] | |||||
Non-interest income | |||||
Non-interest income | 61 | 20 | 181 | 20 | |
Other | |||||
Non-interest income | 61 | 20 | 181 | 20 | |
Accounting Standards Update 2014-09 [Member] | Insurance Sales Commissions [Member] | |||||
Non-interest income | |||||
Non-interest income | 61 | 85 | 106 | 147 | |
Other | |||||
Non-interest income | 61 | 85 | 106 | 147 | |
Accounting Standards Update 2014-09 [Member] | Other Non Interest Income Related To Loans and Deposits [Member] | |||||
Non-interest income | |||||
Non-interest income | 440 | 436 | 1,659 | 1,056 | |
Other | |||||
Non-interest income | $ 440 | $ 436 | $ 1,659 | $ 1,056 | |
[1] | a) Not within the scope of ASC 606. |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019USD ($)Branch | Feb. 08, 2019USD ($)Branch | Dec. 31, 2018USD ($) | |
Business Acquisition [Line Items] | |||
Goodwill | $ 136,432 | $ 131,712 | |
MidFirst Bank [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition-related costs | 902 | ||
Acquisition-related costs after tax | 684 | ||
Goodwill | $ 4,720 | $ 4,720 | |
Number of branches acquired | Branch | 3 | ||
MidFirst Bank [Member] | Guymon, Oklahoma [Member] | |||
Business Acquisition [Line Items] | |||
Number of branches | Branch | 2 | ||
MidFirst Bank [Member] | Cordell, Oklahoma [Member] | |||
Business Acquisition [Line Items] | |||
Number of branches | Branch | 1 |
Business Combinations - Summary
Business Combinations - Summary of the Consideration Paid and the Amounts of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Feb. 08, 2019 | Dec. 31, 2018 |
Recognized amounts of identifiable assets acquired and | |||
Goodwill | $ 136,432 | $ 131,712 | |
MidFirst Bank [Member] | |||
Recognized amounts of identifiable assets acquired and | |||
Cash and due from banks | $ 85,360 | ||
Loans | 6,507 | ||
Premises and equipment | 656 | ||
Core deposit intangible | 1,350 | ||
Other assets | 13 | ||
Total assets acquired | 93,886 | ||
Deposits | 98,543 | ||
Interest payable and other liabilities | 63 | ||
Total liabilities assumed | 98,606 | ||
Total identifiable net assets | (4,720) | ||
Goodwill | $ 4,720 | $ 4,720 |
Business Combinations - Informa
Business Combinations - Information about Loans Acquired (Detail) - MidFirst Bank [Member] $ in Thousands | Feb. 08, 2019USD ($) |
Business Acquisition [Line Items] | |
Fair value of acquired loans | $ 6,507 |
Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Contractually required principal | 6,770 |
Cash flows expected to be collected | 6,770 |
Accretable yield | (263) |
Fair value of acquired loans | $ 6,507 |
Business Combinations - Carryin
Business Combinations - Carrying Value of Loans Acquired (Detail) - MidFirst Bank [Member] $ in Thousands | Feb. 08, 2019USD ($) |
Business Acquisition [Line Items] | |
Fair value of acquired loans | $ 6,507 |
Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 6,507 |
Commercial Real Estate [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 668 |
Commercial Real Estate [Member] | Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 668 |
Commercial and Industrial [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 34 |
Commercial and Industrial [Member] | Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 34 |
Residential Real Estate [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 3,271 |
Residential Real Estate [Member] | Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 3,271 |
Consumer [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | 2,534 |
Consumer [Member] | Non Credit Impaired Loans [Member] | |
Business Acquisition [Line Items] | |
Fair value of acquired loans | $ 2,534 |