Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 2-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'HOMB | ' |
Entity Registrant Name | 'HOME BANCSHARES INC | ' |
Entity Central Index Key | '0001331520 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 65,138,712 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $124,662 | $104,005 |
Interest-bearing deposits with other banks | 89,897 | 61,529 |
Cash and cash equivalents | 214,559 | 165,534 |
Federal funds sold | 22,925 | 4,275 |
Investment securities - available-for-sale | 1,175,827 | 1,175,484 |
Investment securities - held-to-maturity | 132,363 | 114,621 |
Loans receivable not covered by loss share | 4,126,564 | 4,194,437 |
Loans receivable covered by FDIC loss share | 270,641 | 282,516 |
Allowance for loan losses | -48,991 | -43,815 |
Loans receivable, net | 4,348,214 | 4,433,138 |
Bank premises and equipment, net | 196,392 | 197,224 |
Foreclosed assets held for sale not covered by loss share | 23,484 | 29,869 |
Foreclosed assets held for sale covered by FDIC loss share | 20,201 | 20,999 |
FDIC indemnification asset | 73,348 | 89,611 |
Cash value of life insurance | 63,787 | 63,501 |
Accrued interest receivable | 21,865 | 22,944 |
Deferred tax asset, net | 82,886 | 89,412 |
Goodwill | 301,736 | 301,736 |
Core deposit and other intangibles | 21,131 | 22,298 |
Other assets | 82,058 | 81,215 |
Total assets | 6,780,776 | 6,811,861 |
Deposits: | ' | ' |
Demand and non-interest-bearing | 1,057,148 | 991,161 |
Savings and interest-bearing transaction accounts | 2,827,787 | 2,792,423 |
Time deposits | 1,453,575 | 1,609,462 |
Total deposits | 5,338,510 | 5,393,046 |
Securities sold under agreements to repurchase | 137,524 | 160,984 |
FHLB borrowed funds | 354,935 | 350,661 |
Accrued interest payable and other liabilities | 20,113 | 5,389 |
Subordinated debentures | 60,826 | 60,826 |
Total liabilities | 5,911,908 | 5,970,906 |
Stockholders' equity: | ' | ' |
Common stock, par value $0.01; shares authorized 100,000,000 in 2014 and 2013; shares issued and outstanding 65,134,992 in 2014 and 65,081,853 in 2013 | 651 | 651 |
Capital surplus | 708,868 | 708,058 |
Retained earnings | 158,838 | 136,386 |
Accumulated other comprehensive income (loss) | 511 | -4,140 |
Total stockholders' equity | 868,868 | 840,955 |
Total liabilities and stockholders' equity | $6,780,776 | $6,811,861 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 65,134,992 | 65,081,853 |
Common stock, shares outstanding | 65,134,992 | 65,081,853 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Interest income: | ' | ' | ||
Loans | $75,013 | $44,159 | ||
Investment securities | ' | ' | ||
Taxable | 4,470 | 2,403 | ||
Tax-exempt | 2,317 | 1,481 | ||
Deposits - other banks | 24 | 98 | ||
Federal funds sold | 16 | 7 | ||
Total interest income | 81,840 | 48,148 | ||
Interest expense: | ' | ' | ||
Interest on deposits | 3,384 | 2,485 | ||
FHLB borrowed funds | 946 | 1,004 | ||
Securities sold under agreements to repurchase | 182 | 80 | ||
Subordinated debentures | 328 | 230 | ||
Total interest expense | 4,840 | 3,799 | ||
Net interest income | 77,000 | 44,349 | ||
Provision for loan losses | 6,938 | ' | ||
Net interest income after provision for loan losses | 70,062 | 44,349 | ||
Non-interest income: | ' | ' | ||
Service charges on deposit accounts | 5,911 | 3,709 | ||
Other service charges and fees | 5,686 | 3,437 | ||
Trust fees | 436 | 19 | ||
Mortgage lending income | 1,513 | 1,372 | ||
Insurance commissions | 1,416 | 679 | ||
Income from title services | 50 | 109 | ||
Increase in cash value of life insurance | 288 | 180 | ||
Dividends from FHLB, FRB, Bankers' bank & other | 316 | 175 | ||
Gain on sale of SBA loans | ' | 56 | ||
Gain (loss) on sale of premises and equipment, net | 9 | 15 | ||
Gain (loss) on OREO, net | 539 | 86 | ||
Gain (loss) on securities, net | ' | ' | ||
FDIC indemnification accretion/(amortization), net | -4,744 | -1,992 | ||
Other income | 761 | 1,180 | ||
Total non-interest income | 12,181 | 9,025 | ||
Non-interest expense: | ' | ' | ||
Salaries and employee benefits | 18,933 | 12,952 | ||
Occupancy and equipment | 6,226 | 3,594 | ||
Data processing expense | 1,793 | 1,510 | ||
Other operating expenses | 12,405 | 7,807 | ||
Total non-interest expense | 39,357 | 25,863 | ||
Income before income taxes | 42,886 | 27,511 | ||
Income tax expense | 15,549 | 9,963 | ||
Net income | $27,337 | $17,548 | ||
Basic earnings per share | $0.42 | [1] | $0.31 | [1] |
Diluted earnings per share | $0.42 | [1] | $0.31 | [1] |
[1] | All per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013. |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income (Unaudited) (Parenthetical) | 0 Months Ended | 3 Months Ended |
Apr. 18, 2013 | Mar. 31, 2014 | |
Income Statement [Abstract] | ' | ' |
Description of stock split arrangement | 'Board of Directors declared a 2-for-1 stock split to be paid in the form of a 100% stock dividend on June 12, 2013 | 'All per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013 |
Stock split conversion ratio | 2 | 2 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net income | $27,337 | $17,548 |
Net unrealized gain (loss) on available-for-sale securities | 7,653 | -2,235 |
Less: reclassification adjustment for realized (gains) losses included in income | ' | ' |
Other comprehensive income (loss), before tax effect | 7,653 | -2,235 |
Tax effect | -3,002 | 877 |
Other comprehensive income (loss) | 4,651 | -1,358 |
Comprehensive income | $31,988 | $16,190 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, unless otherwise specified | |||||
Beginning Balance at Dec. 31, 2012 | $515,473 | $281 | $416,354 | $86,837 | $12,001 |
Comprehensive income: | ' | ' | ' | ' | ' |
Net income | 17,548 | ' | ' | 17,548 | ' |
Other comprehensive income (loss) | -1,358 | ' | ' | ' | -1,358 |
Net issuance of shares of common stock from exercise of stock options | 126 | ' | 126 | ' | ' |
Tax benefit from stock options exercised | 24 | ' | 24 | ' | ' |
Share-based compensation | 237 | ' | 237 | ' | ' |
Cash dividends - Common Stock | -3,655 | ' | ' | -3,655 | ' |
Ending balance at Mar. 31, 2013 | 528,395 | 281 | 416,741 | 100,730 | 10,643 |
Comprehensive income: | ' | ' | ' | ' | ' |
Net income | 48,972 | ' | ' | 48,972 | ' |
Other comprehensive income (loss) | -14,783 | ' | ' | ' | -14,783 |
Net issuance of shares of common stock from exercise of stock options | 305 | 1 | 304 | ' | ' |
2-for-1 stock split during June 2013 | ' | 281 | -281 | ' | ' |
Issuance of shares of common stock from the acquisition of Liberty | 289,509 | 88 | 289,421 | ' | ' |
Tax benefit from stock options exercised | 812 | ' | 812 | ' | ' |
Share-based compensation | 1,061 | ' | 1,061 | ' | ' |
Cash dividends - Common Stock | -13,316 | ' | ' | -13,316 | ' |
Ending balance at Dec. 31, 2013 | 840,955 | 651 | 708,058 | 136,386 | -4,140 |
Comprehensive income: | ' | ' | ' | ' | ' |
Net income | 27,337 | ' | ' | 27,337 | ' |
Other comprehensive income (loss) | 4,651 | ' | ' | ' | 4,651 |
Net issuance of shares of common stock from exercise of stock options | 49 | ' | 49 | ' | ' |
Tax benefit from stock options exercised | 123 | ' | 123 | ' | ' |
Share-based compensation | 638 | ' | 638 | ' | ' |
Cash dividends - Common Stock | -4,885 | ' | ' | -4,885 | ' |
Ending balance at Mar. 31, 2014 | $868,868 | $651 | $708,868 | $158,838 | $511 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |||
Net issuance of shares of common stock | 11,139 | [1] | 7,206 | [1] | 7,206 | [1] |
Common stock, cash dividends per share | $0.08 | [1] | $0.07 | [1] | $0.23 | [1] |
Net issuance cost of common stock | $49 | $126 | $305 | |||
Liberty Bancshares Inc [Member] | ' | ' | ' | |||
Net issuance of shares of common stock | ' | ' | 8,763,930 | [1] | ||
Net issuance cost of common stock | ' | ' | $577 | |||
[1] | All share and per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities | ' | ' |
Net income | $27,337 | $17,548 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation | 2,523 | 1,610 |
Amortization/(accretion) | -2,334 | 365 |
Share-based compensation | 638 | 237 |
Tax benefits from stock options exercised | -123 | -24 |
(Gain) loss on assets | -548 | -483 |
Provision for loan losses | 6,938 | ' |
Deferred income tax effect | 3,524 | 6,968 |
Increase in cash value of life insurance | -288 | -180 |
Originations of mortgage loans held for sale | -47,372 | -46,476 |
Proceeds from sales of mortgage loans held for sale | 50,288 | 46,307 |
Changes in assets and liabilities: | ' | ' |
Accrued interest receivable | 1,079 | 1,938 |
Indemnification and other assets | 20,166 | 20,836 |
Accrued interest payable and other liabilities | 14,847 | 3,372 |
Net cash provided by (used in) operating activities | 76,675 | 52,018 |
Investing Activities | ' | ' |
Net (increase) decrease in federal funds sold | -18,650 | 14,298 |
Net (increase) decrease in loans, excluding loans acquired | 69,168 | 37,440 |
Purchases of investment securities - available-for-sale | -72,171 | -76,991 |
Proceeds from maturities of investment securities - available-for-sale | 78,333 | 74,495 |
Proceeds from sale of investment securities - available-for-sale | ' | ' |
Purchases of investment securities - held-to-maturity | -22,672 | ' |
Proceeds from maturities of investment securities - held-to-maturity | 4,835 | ' |
Proceeds from foreclosed assets held for sale | 13,624 | 8,980 |
Proceeds from sale of SBA loans | ' | 592 |
Purchases of premises and equipment, net | ' | -5,246 |
Death benefits received | -1,682 | 540 |
Net cash proceeds (paid) received - market acquisitions | ' | ' |
Net cash provided by (used in) investing activities | 50,785 | 54,108 |
Financing Activities | ' | ' |
Net increase (decrease) in deposits, excluding deposits acquired | -54,536 | -18,016 |
Net increase (decrease) in securities sold under agreements to repurchase | -23,460 | 10,916 |
Net increase (decrease) in FHLB borrowed funds | 4,274 | -19 |
Retirement of subordinated debentures | ' | -25,000 |
Proceeds from exercise of stock options | 49 | 126 |
Tax benefits from stock options exercised | 123 | 24 |
Dividends paid on common stock | -4,885 | -3,655 |
Net cash provided by (used in) financing activities | -78,435 | -35,624 |
Net change in cash and cash equivalents | 49,025 | 70,502 |
Cash and cash equivalents - beginning of year | 165,534 | 231,855 |
Cash and cash equivalents - end of period | $214,559 | $302,357 |
Nature_of_Operations_and_Summa
Nature of Operations and Summary of Significant Accounting Policies | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Nature of Operations and Summary of Significant Accounting Policies | ' | ||||||||
1. Nature of Operations and Summary of Significant Accounting Policies | |||||||||
Nature of Operations | |||||||||
Home BancShares, Inc. (the “Company” or “HBI”) is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly owned community bank subsidiary – Centennial Bank (the “Bank”). The Bank has locations in Arkansas, Florida and South Alabama. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. | |||||||||
A summary of the significant accounting policies of the Company follows: | |||||||||
Operating Segments | |||||||||
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar community banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking. | |||||||||
Use of Estimates | |||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the valuation of foreclosed assets, the valuations of assets acquired and liabilities assumed in business combinations, covered loans and the related indemnification asset. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. | |||||||||
Principles of Consolidation | |||||||||
The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||
Reclassifications | |||||||||
Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. | |||||||||
Interim financial information | |||||||||
The accompanying unaudited consolidated financial statements as of March 31, 2014 and 2013 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. | |||||||||
The information furnished in these interim statements reflects all adjustments, which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2013 Form 10-K, filed with the Securities and Exchange Commission. | |||||||||
Earnings per Share | |||||||||
Basic earnings per share is computed based on the weighted average number of shares outstanding during each year, which have been restated to reflect the effect of the 2-for-1 stock split during June 2013. Diluted earnings per share is computed using the weighted average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (EPS) for the following periods: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands, except | |||||||||
per share data) | |||||||||
Net income | $ | 27,337 | $ | 17,548 | |||||
Average shares outstanding | 65,123 | 56,222 | |||||||
Effect of common stock options | 388 | 313 | |||||||
Average diluted shares outstanding | 65,511 | 56,535 | |||||||
Basic earnings per share | $ | 0.42 | $ | 0.31 | |||||
Diluted earnings per share | $ | 0.42 | $ | 0.31 |
Business_Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2014 | |
Business Combinations [Abstract] | ' |
Business Combinations | ' |
2. Business Combinations | |
Acquisition Liberty Bancshares, Inc. | |
On October 24, 2013, Home BancShares, Inc. acquired Liberty Bancshares, Inc. (“Liberty”), parent company of Liberty Bank of Arkansas (“Liberty Bank”). HBI issued 8,763,930 shares of its common stock valued at approximately $290.1 million as of October 23, 2013, plus $30.0 million in cash in exchange for all outstanding shares of Liberty common stock. Additionally, the Company also repurchased all of Liberty’s SBLF preferred stock held by the U.S. Treasury in connection with the closing. | |
Prior to the acquisition, Liberty Bank operated 46 banking offices located in northeast Arkansas, north central Arkansas and northwest Arkansas. Including the effects of the purchase accounting adjustments, the Company acquired approximately $2.82 billion in assets, approximately $1.73 billion in loans including loan discounts and approximately $2.13 billion of deposits. The merger significantly increased the Company’s deposit market share in Arkansas making it the 2nd largest bank holding company headquartered in Arkansas. | |
See Note 2 “Business Combinations” in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2013 for an additional discussion of the acquisition of Liberty. |
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
3. Investment Securities | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities that are classified as available-for-sale and held-to-maturity are as follows: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 428,846 | $ | 1,341 | $ | (3,059 | ) | $ | 427,128 | ||||||||||||||||
Mortgage-backed securities | 505,502 | 3,630 | (2,869 | ) | 506,263 | ||||||||||||||||||||
State and political subdivisions | 185,446 | 4,590 | (2,187 | ) | 187,849 | ||||||||||||||||||||
Other securities | 55,193 | 308 | (914 | ) | 54,587 | ||||||||||||||||||||
Total | $ | 1,174,987 | $ | 9,869 | $ | (9,029 | ) | $ | 1,175,827 | ||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Mortgage-backed securities | $ | 16,115 | $ | — | $ | — | $ | 16,115 | |||||||||||||||||
State and political subdivisions | 116,248 | 1,253 | (36 | ) | 117,465 | ||||||||||||||||||||
Total | $ | 132,363 | $ | 1,253 | $ | (36 | ) | $ | 133,580 | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 467,535 | $ | 1,330 | $ | (5,324 | ) | $ | 463,541 | ||||||||||||||||
Mortgage-backed securities | 462,510 | 3,343 | (4,265 | ) | 461,588 | ||||||||||||||||||||
State and political subdivisions | 196,472 | 3,085 | (4,045 | ) | 195,512 | ||||||||||||||||||||
Other securities | 55,780 | 216 | (1,153 | ) | 54,843 | ||||||||||||||||||||
Total | $ | 1,182,297 | $ | 7,974 | $ | (14,787 | ) | $ | 1,175,484 | ||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
State and political subdivisions | $ | 114,621 | $ | 361 | $ | (1,081 | ) | $ | 113,901 | ||||||||||||||||
Total | $ | 114,621 | $ | 361 | $ | (1,081 | ) | $ | 113,901 | ||||||||||||||||
Assets, principally investment securities, having a carrying value of approximately $1.12 billion and $1.13 billion at March 31, 2014 and December 31, 2013, respectively, were pledged to secure public deposits and for other purposes required or permitted by law. Also, investment securities pledged as collateral for repurchase agreements totaled approximately $137.5 million and $161.0 million at March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of securities classified as available-for-sale and held-to-maturity at March 31, 2014, by contractual maturity, are 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. | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 379,855 | $ | 378,114 | $ | 34,101 | $ | 34,254 | |||||||||||||||||
Due after one year through five years | 542,091 | 543,482 | 69,979 | 70,449 | |||||||||||||||||||||
Due after five years through ten years | 223,603 | 224,078 | 23,409 | 24,003 | |||||||||||||||||||||
Due after ten years | 29,438 | 30,153 | 4,874 | 4,874 | |||||||||||||||||||||
Total | $ | 1,174,987 | $ | 1,175,827 | $ | 132,363 | $ | 133,580 | |||||||||||||||||
For purposes of the maturity tables, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on anticipated maturities. The mortgage-backed securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. | |||||||||||||||||||||||||
During the three-month periods ended March 31, 2014 and 2013, no available-for-sale securities were sold. | |||||||||||||||||||||||||
At March 31, 2014 and December 31, 2013, there were $132.4 million and $114.6 million of held-to-maturity securities, respectively. There were no securities classified as held-to-maturity at March 31, 2013. | |||||||||||||||||||||||||
The Company evaluates all securities quarterly to determine if any unrealized losses are deemed to be other than temporary. In completing these evaluations the Company follows the requirements of FASB ASC 320, Investments—Debt and Equity Securities. Certain investment securities are valued less than their historical cost. These declines are primarily the result of the rate for these investments yielding less than current market rates. Based on evaluation of available evidence, management believes the declines in fair value for these securities are temporary. The Company does not intend to sell or believe it will be required to sell these investments before recovery of their amortized cost bases, which may be maturity. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. | |||||||||||||||||||||||||
During the three-month period ended March 31, 2014, no securities were deemed to have other-than-temporary impairment besides securities for which impairment was taken in prior periods. | |||||||||||||||||||||||||
As of March 31, 2014, the Company had approximately $976,000 in unrealized losses, which have been in continuous loss positions for more than twelve months. Excluding impairment write downs taken in prior periods, the Company’s assessments indicated that the cause of the market depreciation was primarily the change in interest rates and not the issuer’s financial condition, or downgrades by rating agencies. In addition, approximately 78.4% of the Company’s investment portfolio matures in five years or less. As a result, the Company has the ability and intent to hold such securities until maturity. | |||||||||||||||||||||||||
The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale and held-to-maturity with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 304,835 | $ | (2,839 | ) | $ | 16,567 | $ | (220 | ) | $ | 321,402 | $ | (3,059 | ) | ||||||||||
Mortgage-backed securities | 265,405 | (2,470 | ) | 13,732 | (399 | ) | 279,137 | (2,869 | ) | ||||||||||||||||
State and political subdivisions | 66,537 | (1,880 | ) | 6,971 | (343 | ) | 73,508 | (2,223 | ) | ||||||||||||||||
Other securities | 26,094 | (900 | ) | 3,002 | (14 | ) | 29,096 | (914 | ) | ||||||||||||||||
Total | $ | 662,871 | $ | (8,089 | ) | $ | 40,272 | $ | (976 | ) | $ | 703,143 | $ | (9,065 | ) | ||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 312,674 | $ | (5,205 | ) | $ | 6,529 | $ | (119 | ) | $ | 319,203 | $ | (5,324 | ) | ||||||||||
Mortgage-backed securities | 267,105 | (3,968 | ) | 11,749 | (297 | ) | 278,854 | (4,265 | ) | ||||||||||||||||
State and political subdivisions | 130,718 | (4,831 | ) | 4,042 | (295 | ) | 134,760 | (5,126 | ) | ||||||||||||||||
Other securities | 36,125 | (1,153 | ) | — | — | 36,125 | (1,153 | ) | |||||||||||||||||
Total | $ | 746,622 | $ | (15,157 | ) | $ | 22,320 | $ | (711 | ) | $ | 768,942 | $ | (15,868 | ) | ||||||||||
Income earned on securities for the three months ended March 31, 2014 and 2013, is as follows: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Taxable: | |||||||||||||||||||||||||
Available-for-sale | $ | 4,420 | $ | 2,403 | |||||||||||||||||||||
Held-to-maturity | 50 | — | |||||||||||||||||||||||
Non-taxable: | |||||||||||||||||||||||||
Available-for-sale | 1,490 | 1,481 | |||||||||||||||||||||||
Held-to-maturity | 827 | — | |||||||||||||||||||||||
Total | $ | 6,787 | $ | 3,884 | |||||||||||||||||||||
Loans_Receivable_Not_Covered_b
Loans Receivable Not Covered by Loss Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Loans Receivable Not Covered by Loss Share | ' | ||||||||
4. Loans Receivable Not Covered by Loss Share | |||||||||
The various categories of loans not covered by loss share are summarized as follows: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Real estate: | |||||||||
Commercial real estate loans | |||||||||
Non-farm/non-residential | $ | 1,722,910 | $ | 1,739,668 | |||||
Construction/land development | 566,205 | 562,667 | |||||||
Agricultural | 74,775 | 81,618 | |||||||
Residential real estate loans | |||||||||
Residential 1-4 family | 890,981 | 913,332 | |||||||
Multifamily residential | 206,348 | 213,232 | |||||||
Total real estate | 3,461,219 | 3,510,517 | |||||||
Consumer | 60,735 | 69,570 | |||||||
Commercial and industrial | 491,525 | 511,421 | |||||||
Agricultural | 44,017 | 37,129 | |||||||
Other | 69,068 | 65,800 | |||||||
Loans receivable not covered by loss share | $ | 4,126,564 | $ | 4,194,437 | |||||
During the three-month period ended March 31, 2014, no SBA loans were sold. During the three-month period ended March 31, 2013, the Company sold $536,000 of the guaranteed portion of an SBA loan, which resulted in a gain of approximately $56,000. | |||||||||
Mortgage loans held for sale of approximately $27.6 million and $30.5 million at March 31, 2014 and December 31, 2013, respectively, are included in residential 1-4 family loans. Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. The Company obtains forward commitments to sell mortgage loans to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are not mandatory forward commitments. These commitments are structured on a best efforts basis; therefore, the Company is not required to substitute another loan or to buy back the commitment if the original loan does not fund. Typically, the Company delivers the mortgage loans within a few days after the loans are funded. These commitments are derivative instruments and their fair values at March 31, 2014 and December 31, 2013 were not material. | |||||||||
As of acquisition date, the Company evaluated $1.61 billion of net loans ($1.67 billion gross loans less $62.1 million discount) purchased in conjunction with the acquisition of Liberty in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs. As of March 31, 2014, the net loan balance of the Liberty ASC Topic 310-20 purchased loans is $1.40 billion ($1.45 billion gross loans less $49.8 million discount). The fair value discount is being accreted into interest income over the weighted average life of the loans using a constant yield method. | |||||||||
As of acquisition date, the Company evaluated $120.5 million of net loans ($162.4 million gross loans less $41.9 million discount) purchased in conjunction with the acquisition of Liberty in accordance with the provisions of FASB ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. As of March 31, 2014, the net loan balance of the Liberty ASC Topic 310-30 purchased loans is $107.6 million ($148.9 million gross loans less $41.3 million discount). These purchased non-covered loans are considered impaired if there is evidence of credit deterioration and if it is probable that not all contractually required payments will be collected. |
Loans_Receivable_Covered_by_FD
Loans Receivable Covered by FDIC Loss Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Loans Receivable Covered by FDIC Loss Share | ' | ||||||||
5. Loans Receivable Covered by FDIC Loss Share | |||||||||
The Company evaluated loans purchased in conjunction with the acquisitions under purchase and assumption agreements with the FDIC for impairment in accordance with the provisions of FASB ASC Topic 310-30. Purchased covered loans are considered impaired if there is evidence of credit deterioration since origination and if it is probable that not all contractually required payments will be collected. | |||||||||
The following table reflects the carrying value of all purchased FDIC covered impaired loans as of March 31, 2014 and December 31, 2013 for the Company: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Real estate: | |||||||||
Commercial real estate loans | |||||||||
Non-farm/non-residential | $ | 113,593 | $ | 117,164 | |||||
Construction/land development | 45,381 | 48,388 | |||||||
Agricultural | 1,184 | 1,232 | |||||||
Residential real estate loans | |||||||||
Residential 1-4 family | 92,918 | 98,403 | |||||||
Multifamily residential | 10,043 | 10,378 | |||||||
Total real estate | 263,119 | 275,565 | |||||||
Consumer | 16 | 20 | |||||||
Commercial and industrial | 6,440 | 5,852 | |||||||
Other | 1,066 | 1,079 | |||||||
Loans receivable covered by FDIC loss share | $ | 270,641 | $ | 282,516 | |||||
The acquired loans were grouped into pools based on common risk characteristics and were recorded at their estimated fair values, which incorporated estimated credit losses at the acquisition dates. These loan pools are systematically reviewed by the Company to determine material changes in cash flow estimates from those identified at the time of the acquisition. Techniques used in determining risk of loss are similar to the Centennial Bank non-covered loan portfolio, with most focus being placed on those loan pools which include the larger loan relationships and those loan pools which exhibit higher risk characteristics. As of March, 31, 2014 and December 31, 2013, $36.5 million and $35.8 million, respectively, were accruing loans past due 90 days or more. |
Allowance_for_Loan_Losses_Cred
Allowance for Loan Losses, Credit Quality and Other | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance for Loan Losses, Credit Quality and Other | ' | ||||||||||||||||||||||||||||
6. Allowance for Loan Losses, Credit Quality and Other | |||||||||||||||||||||||||||||
The following table presents a summary of changes in the allowance for loan losses for the non-covered and covered loan portfolios for the three months ended March 31, 2014: | |||||||||||||||||||||||||||||
For Loans | For Loans | Total | |||||||||||||||||||||||||||
Not Covered | Covered by FDIC | ||||||||||||||||||||||||||||
by Loss Share | Loss Share | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 39,022 | $ | 4,793 | $ | 43,815 | |||||||||||||||||||||||
Loans charged off | 2,424 | — | 2,424 | ||||||||||||||||||||||||||
Recoveries of loans previously charged off | 488 | 174 | 662 | ||||||||||||||||||||||||||
Net loans recovered (charged off) | (1,936 | ) | 174 | (1,762 | ) | ||||||||||||||||||||||||
Provision for loan losses for non-covered loans | 6,938 | — | 6,938 | ||||||||||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | — | — | — | ||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | — | — | — | ||||||||||||||||||||||||||
Net provision for loan losses for covered loans | — | — | — | ||||||||||||||||||||||||||
Increase in FDIC indemnification asset | — | — | — | ||||||||||||||||||||||||||
Balance, March 31 | $ | 44,024 | $ | 4,967 | $ | 48,991 | |||||||||||||||||||||||
Allowance for Loan Losses and Credit Quality for Non-Covered Loans | |||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses for the non-covered loan portfolio for the three-month period ended March 31, 2014 and the allowance for loan losses and recorded investment in loans not covered by loss share based on portfolio segment by impairment method as of March 31, 2014. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Additionally, the Company’s discount for credit losses on non-covered loans acquired was $164.3 million and $174.6 million at March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
Loans charged off | (22 | ) | (67 | ) | (613 | ) | (868 | ) | (854 | ) | — | (2,424 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 25 | 22 | 57 | 35 | 349 | — | 488 | ||||||||||||||||||||||
Net loans recovered (charged off) | 3 | (45 | ) | (556 | ) | (833 | ) | (505 | ) | — | (1,936 | ) | |||||||||||||||||
Provision for loan losses | (160 | ) | 1,662 | 1,423 | 2,767 | 1,588 | (342 | ) | 6,938 | ||||||||||||||||||||
Balance, March 31 | $ | 6,125 | $ | 16,717 | $ | 9,756 | $ | 3,867 | $ | 3,646 | $ | 3,913 | $ | 44,024 | |||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 2,600 | $ | 8,319 | $ | 2,323 | $ | 5 | $ | — | $ | — | $ | 13,247 | |||||||||||||||
Loans collectively evaluated for impairment | 3,525 | 8,398 | 7,433 | 3,862 | 3,646 | 3,913 | 30,777 | ||||||||||||||||||||||
Loans evaluated for impairment, balance, March 31 | 6,125 | 16,717 | 9,756 | 3,867 | 3,646 | 3,913 | 44,024 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | — | — | — | — | — | — | — | ||||||||||||||||||||||
Balance, March 31 | $ | 6,125 | $ | 16,717 | $ | 9,756 | $ | 3,867 | $ | 3,646 | $ | 3,913 | $ | 44,024 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 27,406 | $ | 55,185 | $ | 26,089 | $ | 5,957 | $ | 285 | $ | — | $ | 114,922 | |||||||||||||||
Loans collectively evaluated for impairment | 511,500 | 1,595,560 | 995,121 | 467,212 | 167,961 | — | 3,737,354 | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | 538,906 | 1,650,745 | 1,021,210 | 473,169 | 168,246 | — | 3,852,276 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 27,299 | 146,940 | 76,119 | 18,356 | 5,574 | — | 274,288 | ||||||||||||||||||||||
Balance, March 31 | $ | 566,205 | $ | 1,797,685 | $ | 1,097,329 | $ | 491,525 | $ | 173,820 | $ | — | $ | 4,126,564 | |||||||||||||||
The following tables present the balance in the allowance for loan losses for the non-covered loan portfolio for the three-month period ended March 31, 2013 and the year ended December 31, 2013, and the allowance for loan losses and recorded investment in loans not covered by loss share based on portfolio segment by impairment method as of December 31, 2013. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 5,816 | $ | 19,974 | $ | 13,813 | $ | 3,870 | $ | 1,288 | $ | 409 | $ | 45,170 | |||||||||||||||
Loans charged off | (118 | ) | (245 | ) | (2,053 | ) | (35 | ) | (867 | ) | — | (3,318 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 15 | 17 | 180 | 15 | 223 | — | 450 | ||||||||||||||||||||||
Net loans recovered (charged off) | (103 | ) | (228 | ) | (1,873 | ) | (20 | ) | (644 | ) | — | (2,868 | ) | ||||||||||||||||
Provision for loan losses | 484 | (1,235 | ) | (2,111 | ) | (1,023 | ) | 393 | 3,492 | — | |||||||||||||||||||
Balance, March 31 | 6,197 | 18,511 | 9,829 | 2,827 | 1,037 | 3,901 | 42,302 | ||||||||||||||||||||||
Loans charged off | (880 | ) | (3,809 | ) | (4,255 | ) | (502 | ) | (1,433 | ) | — | (10,879 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 19 | 2,054 | 802 | 57 | 478 | — | 3,410 | ||||||||||||||||||||||
Net loans recovered (charged off) | (861 | ) | (1,755 | ) | (3,453 | ) | (445 | ) | (955 | ) | — | (7,469 | ) | ||||||||||||||||
Provision for loan losses | 946 | (1,656 | ) | 2,513 | (449 | ) | 2,481 | 354 | 4,189 | ||||||||||||||||||||
Balance, December 31 | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,826 | $ | 8,359 | $ | 2,347 | $ | 5 | $ | — | $ | — | $ | 14,537 | |||||||||||||||
Loans collectively evaluated for impairment | 2,456 | 6,741 | 6,542 | 1,928 | 2,563 | 4,255 | 24,485 | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | 6,282 | 15,100 | 8,889 | 1,933 | 2,563 | 4,255 | 39,022 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | — | — | — | — | — | — | — | ||||||||||||||||||||||
Balance, December 31 | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 32,560 | $ | 76,559 | $ | 20,112 | $ | 5,563 | $ | 223 | $ | — | $ | 135,017 | |||||||||||||||
Loans collectively evaluated for impairment | 500,279 | 1,592,343 | 1,027,093 | 484,036 | 164,224 | — | 3,767,975 | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | 532,839 | 1,668,902 | 1,047,205 | 489,599 | 164,447 | — | 3,902,992 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 29,828 | 152,384 | 79,359 | 21,822 | 8,052 | — | 291,445 | ||||||||||||||||||||||
Balance, December 31 | $ | 562,667 | $ | 1,821,286 | $ | 1,126,564 | $ | 511,421 | $ | 172,499 | $ | — | $ | 4,194,437 | |||||||||||||||
The following is an aging analysis for the non-covered loan portfolio as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Total | Current | Total Loans | Accruing | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Loans | Receivable | Loans | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days | Past Due | ||||||||||||||||||||||||||
or More | 90 Days | ||||||||||||||||||||||||||||
or More | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 2,861 | $ | 3,066 | $ | 13,114 | $ | 19,041 | $ | 1,703,869 | $ | 1,722,910 | $ | 7,494 | |||||||||||||||
Construction/land development | 236 | 361 | 6,214 | 6,811 | 559,394 | 566,205 | 4,505 | ||||||||||||||||||||||
Agricultural | 22 | — | 79 | 101 | 74,674 | 74,775 | — | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 4,898 | 2,395 | 14,550 | 21,843 | 869,138 | 890,981 | 6,195 | ||||||||||||||||||||||
Multifamily residential | 214 | — | 2,905 | 3,119 | 203,229 | 206,348 | 676 | ||||||||||||||||||||||
Total real estate | 8,231 | 5,822 | 36,862 | 50,915 | 3,410,304 | 3,461,219 | 18,870 | ||||||||||||||||||||||
Consumer | 356 | 102 | 285 | 743 | 59,992 | 60,735 | 89 | ||||||||||||||||||||||
Commercial and industrial | 884 | 445 | 5,531 | 6,860 | 484,665 | 491,525 | 3,022 | ||||||||||||||||||||||
Agricultural and other | 461 | 25 | — | 486 | 112,599 | 113,085 | — | ||||||||||||||||||||||
Total | $ | 9,932 | $ | 6,394 | $ | 42,678 | $ | 59,004 | $ | 4,067,560 | $ | 4,126,564 | $ | 21,981 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Total | Current | Total Loans | Accruing | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Loans | Receivable | Loans | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days | Past Due | ||||||||||||||||||||||||||
or More | 90 Days | ||||||||||||||||||||||||||||
or More | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 4,849 | $ | 2,275 | $ | 13,007 | $ | 20,131 | $ | 1,719,537 | $ | 1,739,668 | $ | 7,914 | |||||||||||||||
Construction/land development | 2,206 | 352 | 5,959 | 8,517 | 554,150 | 562,667 | 4,879 | ||||||||||||||||||||||
Agricultural | 1,040 | 1,082 | 89 | 2,211 | 79,407 | 81,618 | — | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 7,936 | 2,676 | 13,775 | 24,387 | 888,945 | 913,332 | 6,492 | ||||||||||||||||||||||
Multifamily residential | — | 1,437 | 2 | 1,439 | 211,793 | 213,232 | 1 | ||||||||||||||||||||||
Total real estate | 16,031 | 7,822 | 32,832 | 56,685 | 3,453,832 | 3,510,517 | 19,286 | ||||||||||||||||||||||
Consumer | 717 | 226 | 224 | 1,167 | 68,403 | 69,570 | 100 | ||||||||||||||||||||||
Commercial and industrial | 4,363 | 405 | 5,218 | 9,986 | 501,435 | 511,421 | 3,755 | ||||||||||||||||||||||
Agricultural and other | 778 | 110 | — | 888 | 102,041 | 102,929 | — | ||||||||||||||||||||||
Total | $ | 21,889 | $ | 8,563 | $ | 38,274 | $ | 68,726 | $ | 4,125,711 | $ | 4,194,437 | $ | 23,141 | |||||||||||||||
Non-accruing loans not covered by loss share at March 31, 2014 and December 31, 2013 were $20.7 million and $15.1 million, respectively. | |||||||||||||||||||||||||||||
The following is a summary of the non-covered impaired loans as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Unpaid | Allocation | Three Months Ended | |||||||||||||||||||||||||||
Contractual | Total | of Allowance | Average | Interest | |||||||||||||||||||||||||
Principal | Recorded | for Loan | Recorded | Recognized | |||||||||||||||||||||||||
Balance | Investment | Losses | Investment | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 1,932 | $ | 1,932 | $ | — | $ | 1,691 | $ | 14 | |||||||||||||||||||
Construction/land development | — | — | — | — | — | ||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 108 | 108 | — | 57 | 2 | ||||||||||||||||||||||||
Multifamily residential | — | — | — | — | — | ||||||||||||||||||||||||
Total real estate | 2,040 | 2,040 | — | 1,748 | 16 | ||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | — | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans without a specific valuation allowance | 2,040 | 2,040 | — | 1,748 | 16 | ||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 47,628 | 44,448 | 8,319 | 48,853 | 434 | ||||||||||||||||||||||||
Construction/land development | 19,501 | 16,889 | 2,600 | 22,060 | 154 | ||||||||||||||||||||||||
Agricultural | 79 | 79 | — | 84 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 20,011 | 17,260 | 1,255 | 16,929 | 124 | ||||||||||||||||||||||||
Multifamily residential | 5,441 | 5,254 | 1,068 | 3,659 | 28 | ||||||||||||||||||||||||
Total real estate | 92,660 | 83,930 | 13,242 | 91,585 | 740 | ||||||||||||||||||||||||
Consumer | 336 | 285 | — | 254 | 2 | ||||||||||||||||||||||||
Commercial and industrial | 7,350 | 5,957 | 5 | 5,760 | 43 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans with a specific valuation allowance | 100,346 | 90,172 | 13,247 | 97,599 | 785 | ||||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 49,560 | 46,380 | 8,319 | 50,544 | 448 | ||||||||||||||||||||||||
Construction/land development | 19,501 | 16,889 | 2,600 | 22,060 | 154 | ||||||||||||||||||||||||
Agricultural | 79 | 79 | — | 84 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 20,119 | 17,368 | 1,255 | 16,986 | 126 | ||||||||||||||||||||||||
Multifamily residential | 5,441 | 5,254 | 1,068 | 3,659 | 28 | ||||||||||||||||||||||||
Total real estate | 94,700 | 85,970 | 13,242 | 93,333 | 756 | ||||||||||||||||||||||||
Consumer | 336 | 285 | — | 254 | 2 | ||||||||||||||||||||||||
Commercial and industrial | 7,350 | 5,957 | 5 | 5,760 | 43 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total impaired loans | $ | 102,386 | $ | 92,212 | $ | 13,247 | $ | 99,347 | $ | 801 | |||||||||||||||||||
Note: Purchased non-covered loans acquired with deteriorated credit quality are accounted for on a pooled basis under ASC 310-30. All of these pools are currently considered to be performing resulting in none of the purchased non-covered loans acquired with deteriorated credit quality being classified as non-covered impaired loans as of March 31, 2014. | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Unpaid | Allocation | Year Ended | |||||||||||||||||||||||||||
Contractual | Total | of Allowance | Average | Interest | |||||||||||||||||||||||||
Principal | Recorded | for Loan | Recorded | Recognized | |||||||||||||||||||||||||
Balance | Investment | Losses | Investment | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 1,449 | $ | — | $ | — | $ | 3,958 | $ | 177 | |||||||||||||||||||
Construction/land development | — | — | — | 106 | 8 | ||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 6 | 6 | — | 1,016 | 34 | ||||||||||||||||||||||||
Multifamily residential | — | — | — | 534 | 1 | ||||||||||||||||||||||||
Total real estate | 1,455 | 6 | — | 5,614 | 220 | ||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||
Commercial and industrial | — | — | — | 132 | 6 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans without a specific valuation allowance | 1,455 | 6 | — | 5,746 | 226 | ||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 56,465 | 54,707 | 8,359 | 55,361 | 2,205 | ||||||||||||||||||||||||
Construction/land development | 29,461 | 27,231 | 3,826 | 23,121 | 878 | ||||||||||||||||||||||||
Agricultural | 89 | 89 | — | 83 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 19,188 | 16,599 | 1,265 | 13,248 | 373 | ||||||||||||||||||||||||
Multifamily residential | 2,065 | 2,065 | 1,082 | 3,683 | 100 | ||||||||||||||||||||||||
Total real estate | 107,268 | 100,691 | 14,532 | 95,496 | 3,556 | ||||||||||||||||||||||||
Consumer | 254 | 223 | — | 385 | 5 | ||||||||||||||||||||||||
Commercial and industrial | 7,059 | 5,563 | 5 | 2,503 | 67 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans with a specific valuation allowance | 114,581 | 106,477 | 14,537 | 98,384 | 3,628 | ||||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 57,914 | 54,707 | 8,359 | 59,319 | 2,382 | ||||||||||||||||||||||||
Construction/land development | 29,461 | 27,231 | 3,826 | 23,227 | 886 | ||||||||||||||||||||||||
Agricultural | 89 | 89 | — | 83 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 19,194 | 16,605 | 1,265 | 14,264 | 407 | ||||||||||||||||||||||||
Multifamily residential | 2,065 | 2,065 | 1,082 | 4,217 | 101 | ||||||||||||||||||||||||
Total real estate | 108,723 | 100,697 | 14,532 | 101,110 | 3,776 | ||||||||||||||||||||||||
Consumer | 254 | 223 | — | 385 | 5 | ||||||||||||||||||||||||
Commercial and industrial | 7,059 | 5,563 | 5 | 2,635 | 73 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total impaired loans | $ | 116,036 | $ | 106,483 | $ | 14,537 | $ | 104,130 | $ | 3,854 | |||||||||||||||||||
Note: Purchased non-covered loans acquired with deteriorated credit quality are accounted for on a pooled basis under ASC 310-30. All of these pools are currently considered to be performing resulting in none of the purchased non-covered loans acquired with deteriorated credit quality being classified as non-covered impaired loans as of December 31, 2013. | |||||||||||||||||||||||||||||
Interest recognized on non-covered impaired loans during the three months ended March 31, 2014 and 2013 was approximately $801,000 and $892,000, respectively. The amount of interest recognized on non-covered impaired loans on the cash basis is not materially different than the accrual basis. | |||||||||||||||||||||||||||||
Credit Quality Indicators. As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk rating of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in Florida, Arkansas and Alabama. | |||||||||||||||||||||||||||||
The Company utilizes a risk rating matrix to assign a risk rating to each of its loans. Loans are rated on a scale from 1 to 8. Descriptions of the general characteristics of the 8 risk ratings are as follows: | |||||||||||||||||||||||||||||
• | Risk rating 1 – Excellent. Loans in this category are to persons or entities of unquestionable financial strength, a highly liquid financial position, with collateral that is liquid and well margined. These borrowers have performed without question on past obligations, and the Bank expects their performance to continue. Internally generated cash flow covers current maturities of long-term debt by a substantial margin. Loans secured by bank certificates of deposit and savings accounts, with appropriate holds placed on the accounts, are to be rated in this category. | ||||||||||||||||||||||||||||
• | Risk rating 2 – Good. These are loans to persons or entities with strong financial condition and above-average liquidity that have previously satisfactorily handled their obligations with the Bank. Collateral securing the Bank’s debt is margined in accordance with policy guidelines. Internally generated cash flow covers current maturities of long-term debt more than adequately. Unsecured loans to individuals supported by strong financial statements and on which repayment is satisfactory may be included in this classification. | ||||||||||||||||||||||||||||
• | Risk rating 3 – Satisfactory. Loans to persons or entities with an average financial condition, adequate collateral margins, adequate cash flow to service long-term debt, and net worth comprised mainly of fixed assets are included in this category. These entities are minimally profitable now, with projections indicating continued profitability into the foreseeable future. Closely held corporations or businesses where a majority of the profits are withdrawn by the owners or paid in dividends are included in this rating category. Overall, these loans are basically sound. | ||||||||||||||||||||||||||||
• | Risk rating 4 – Watch. Borrowers who have marginal cash flow, marginal profitability or have experienced an unprofitable year and a declining financial condition characterize these loans. The borrower has in the past satisfactorily handled debts with the Bank, but in recent months has either been late, delinquent in making payments, or made sporadic payments. While the Bank continues to be adequately secured, margins have decreased or are decreasing, despite the borrower’s continued satisfactory condition. Other characteristics of borrowers in this class include inadequate credit information, weakness of financial statement and repayment capacity, but with collateral that appears to limit exposure. Included in this category are loans to borrowers in industries that are experiencing elevated risk. | ||||||||||||||||||||||||||||
• | Risk rating 5 – Other Loans Especially Mentioned (“OLEM”). A loan criticized as OLEM has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. OLEM assets are not adversely classified and do not expose the institution to sufficient risk to warrant adverse classification. | ||||||||||||||||||||||||||||
• | Risk rating 6 – Substandard. A loan classified as substandard is inadequately protected by the sound worth and paying capacity of the borrower or the collateral pledged. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual assets. | ||||||||||||||||||||||||||||
• | Risk rating 7 – Doubtful. A loan classified as doubtful has all the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These are poor quality loans in which neither the collateral, if any, nor the financial condition of the borrower presently ensure collectability in full in a reasonable period of time; in fact, there is permanent impairment in the collateral securing the loan. | ||||||||||||||||||||||||||||
• | Risk rating 8 – Loss. Assets classified as loss are considered uncollectible and of such little value that the continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may occur in the future. This classification is based upon current facts, not probabilities. Assets classified as loss should be charged-off in the period in which they became uncollectible. | ||||||||||||||||||||||||||||
The Company’s classified loans include loans in risk ratings 6, 7 and 8. The following is a presentation of classified non-covered loans (excluding loans accounted for under ASC Topic 310-30) by class as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Risk Rated 6 | Risk Rated 7 | Risk Rated 8 | Classified Total | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 49,425 | $ | 24 | $ | — | $ | 49,449 | |||||||||||||||||||||
Construction/land development | 18,170 | 26 | — | 18,196 | |||||||||||||||||||||||||
Agricultural | 80 | — | — | 80 | |||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 14,200 | 198 | — | 14,398 | |||||||||||||||||||||||||
Multifamily residential | 4,094 | — | — | 4,094 | |||||||||||||||||||||||||
Total real estate | 85,969 | 248 | — | 86,217 | |||||||||||||||||||||||||
Consumer | 446 | — | — | 446 | |||||||||||||||||||||||||
Commercial and industrial | 3,697 | 3 | — | 3,700 | |||||||||||||||||||||||||
Agricultural and other | 32 | — | — | 32 | |||||||||||||||||||||||||
Total | $ | 90,144 | $ | 251 | $ | — | $ | 90,395 | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Risk Rated 6 | Risk Rated 7 | Risk Rated 8 | Classified Total | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 55,874 | $ | 1 | $ | — | $ | 55,875 | |||||||||||||||||||||
Construction/land development | 19,140 | — | — | 19,140 | |||||||||||||||||||||||||
Agricultural | 89 | — | — | 89 | |||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 12,747 | 196 | — | 12,943 | |||||||||||||||||||||||||
Multifamily residential | 2,064 | — | — | 2,064 | |||||||||||||||||||||||||
Total real estate | 89,914 | 197 | — | 90,111 | |||||||||||||||||||||||||
Consumer | 454 | — | — | 454 | |||||||||||||||||||||||||
Commercial and industrial | 2,620 | 2 | — | 2,622 | |||||||||||||||||||||||||
Agricultural and other | 32 | — | — | 32 | |||||||||||||||||||||||||
Total | $ | 93,020 | $ | 199 | $ | — | $ | 93,219 | |||||||||||||||||||||
Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $1.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. | |||||||||||||||||||||||||||||
The following is a presentation of non-covered loans by class and risk rating as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Classified | Total | |||||||||||||||||||||||
Rated 1 | Rated 2 | Rated 3 | Rated 4 | Rated 5 | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 134 | $ | 2,207 | $ | 1,025,315 | $ | 476,412 | $ | 23,403 | $ | 49,449 | $ | 1,576,920 | |||||||||||||||
Construction/land development | 16 | 117 | 193,762 | 316,218 | 10,597 | 18,196 | 538,906 | ||||||||||||||||||||||
Agricultural | — | — | 48,751 | 24,092 | 902 | 80 | 73,825 | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 383 | 70 | 636,637 | 154,358 | 16,172 | 14,398 | 822,018 | ||||||||||||||||||||||
Multifamily residential | — | — | 147,010 | 46,903 | 1,185 | 4,094 | 199,192 | ||||||||||||||||||||||
Total real estate | 533 | 2,394 | 2,051,475 | 1,017,983 | 52,259 | 86,217 | 3,210,861 | ||||||||||||||||||||||
Consumer | 14,137 | 28 | 35,663 | 7,593 | 809 | 446 | 58,676 | ||||||||||||||||||||||
Commercial and industrial | 13,850 | 5,853 | 298,979 | 147,684 | 3,103 | 3,700 | 473,169 | ||||||||||||||||||||||
Agricultural and other | 591 | 5,568 | 84,295 | 18,867 | 217 | 32 | 109,570 | ||||||||||||||||||||||
Total risk rated loans | $ | 29,111 | $ | 13,843 | $ | 2,470,412 | $ | 1,192,127 | $ | 56,388 | $ | 90,395 | $ | 3,852,276 | |||||||||||||||
Purchased credit impaired loans acquired | 274,288 | ||||||||||||||||||||||||||||
Total non-covered loans | $ | 4,126,564 | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Classified | Total | |||||||||||||||||||||||
Rated 1 | Rated 2 | Rated 3 | Rated 4 | Rated 5 | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 3 | $ | 3,135 | $ | 1,039,110 | $ | 462,957 | $ | 28,380 | $ | 55,875 | $ | 1,589,460 | |||||||||||||||
Construction/land development | 54 | 94 | 198,228 | 303,590 | 11,732 | 19,140 | 532,838 | ||||||||||||||||||||||
Agricultural | 55 | — | 53,633 | 24,901 | 764 | 89 | 79,442 | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 393 | 146 | 654,739 | 155,744 | 17,241 | 12,943 | 841,206 | ||||||||||||||||||||||
Multifamily residential | — | — | 150,023 | 52,233 | 1,679 | 2,064 | 205,999 | ||||||||||||||||||||||
Total real estate | 505 | 3,375 | 2,095,733 | 999,425 | 59,796 | 90,111 | 3,248,945 | ||||||||||||||||||||||
Consumer | 15,566 | 32 | 42,647 | 7,244 | 848 | 454 | 66,791 | ||||||||||||||||||||||
Commercial and industrial | 25,809 | 5,845 | 300,108 | 151,986 | 3,229 | 2,622 | 489,599 | ||||||||||||||||||||||
Agricultural and other | 675 | 7,138 | 74,676 | 14,462 | 674 | 32 | 97,657 | ||||||||||||||||||||||
Total risk rated loans | $ | 42,555 | $ | 16,390 | $ | 2,513,164 | $ | 1,173,117 | $ | 64,547 | $ | 93,219 | $ | 3,902,992 | |||||||||||||||
Purchased credit impaired loans acquired | 291,445 | ||||||||||||||||||||||||||||
Total non-covered loans | $ | 4,194,437 | |||||||||||||||||||||||||||
The following is a presentation of non-covered TDR’s by class as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Number | Pre-Modification | Rate | Term | Rate | Post- | ||||||||||||||||||||||||
of Loans | Outstanding | Modification | Modification | & Term | Modification | ||||||||||||||||||||||||
Balance | Modification | Outstanding | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 11 | $ | 25,993 | $ | 8,488 | $ | 8,383 | $ | 5,729 | $ | 22,600 | ||||||||||||||||||
Construction/land development | 3 | 8,324 | 5,772 | 1,794 | — | 7,566 | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 8 | 1,646 | 429 | 720 | 168 | 1,317 | |||||||||||||||||||||||
Multifamily residential | 2 | 3,182 | 2,054 | — | 295 | 2,349 | |||||||||||||||||||||||
Total real estate | 24 | 39,145 | 16,743 | 10,897 | 6,192 | 33,832 | |||||||||||||||||||||||
Commercial and industrial | 1 | 380 | — | — | 338 | 338 | |||||||||||||||||||||||
Total | 25 | $ | 39,525 | $ | 16,743 | $ | 10,897 | $ | 6,530 | $ | 34,170 | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Number | Pre-Modification | Rate | Term | Rate | Post- | ||||||||||||||||||||||||
of Loans | Outstanding | Modification | Modification | & Term | Modification | ||||||||||||||||||||||||
Balance | Modification | Outstanding | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 14 | $ | 36,454 | $ | 13,029 | $ | 8,384 | $ | 10,554 | $ | 31,967 | ||||||||||||||||||
Construction/land development | 3 | 8,324 | 5,811 | 1,794 | — | 7,605 | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 8 | 1,646 | 589 | 727 | 170 | 1,486 | |||||||||||||||||||||||
Multifamily residential | 1 | 2,887 | 2,063 | — | — | 2,063 | |||||||||||||||||||||||
Total real estate | 26 | 49,311 | 21,492 | 10,905 | 10,724 | 43,121 | |||||||||||||||||||||||
Commercial and industrial | 1 | 380 | — | — | 345 | 345 | |||||||||||||||||||||||
Total | 27 | $ | 49,691 | $ | 21,492 | $ | 10,905 | $ | 11,069 | $ | 43,466 | ||||||||||||||||||
The following is a presentation of non-covered TDR’s on non-accrual status as of March 31, 2014 and December 31, 2013 because they are not in compliance with the modified terms: | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Number of Loans | Recorded Balance | Number of Loans | Recorded Balance | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 2 | $ | 555 | — | $ | — | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 4 | 688 | 4 | 854 | |||||||||||||||||||||||||
Total real estate | 6 | 1,243 | 4 | 854 | |||||||||||||||||||||||||
Total | 6 | $ | 1,243 | 4 | $ | 854 | |||||||||||||||||||||||
Allowance for Loan Losses and Credit Quality for Covered Loans | |||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses for the covered loan portfolio for the three-month period ended March 31, 2014, and the allowance for loan losses and recorded investment in loans covered by FDIC loss share based on portfolio segment by impairment method as of March 31, 2014. | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
Loans charged off | — | — | — | — | — | — | — | ||||||||||||||||||||||
Recoveries of loans previously charged off | 6 | — | 168 | — | — | — | 174 | ||||||||||||||||||||||
Net loans recovered (charged off) | 6 | — | 168 | — | — | — | 174 | ||||||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | 10 | 1,345 | (1,364 | ) | 9 | — | — | — | |||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (10 | ) | (1,345 | ) | 1,364 | (9 | ) | — | — | — | |||||||||||||||||||
Net provision for loan losses | — | — | — | — | — | — | — | ||||||||||||||||||||||
Increase in FDIC indemnification asset | 10 | 1,345 | (1,364 | ) | 9 | — | — | — | |||||||||||||||||||||
Balance, March 31 | $ | 1,723 | $ | 2,183 | $ | 917 | $ | 144 | $ | — | $ | — | $ | 4,967 | |||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 1,723 | 2,183 | 917 | 144 | — | — | 4,967 | ||||||||||||||||||||||
Balance, March 31 | $ | 1,723 | $ | 2,183 | $ | 917 | $ | 144 | $ | — | $ | — | $ | 4,967 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 45,381 | 114,777 | 102,960 | 6,440 | 1,083 | — | 270,641 | ||||||||||||||||||||||
Balance, March 31 | $ | 45,381 | $ | 114,777 | $ | 102,960 | $ | 6,440 | $ | 1,083 | $ | — | $ | 270,641 | |||||||||||||||
During the quarterly 2013 impairment testing on the estimated cash flows of the covered loans, the Company established that six pools evaluated had experienced material projected credit deterioration. As a result, the Company recorded a $4.4 million provision for loan losses to the allowance for loan losses related to the purchased impaired loans during the year ended December 31, 2013. Since these loans are covered by loss share with the FDIC, the Company was able to increase the related indemnification asset by $3.5 million resulting in a net provision for loan losses of $991,000. | |||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses for the covered loan portfolio for the three-month period ended March 31, 2013 and the year ended December 31, 2013, and the allowance for loan losses and recorded investment in loans covered by FDIC loss share based on portfolio segment by impairment method as of December 31, 2013. | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,169 | $ | 4,005 | $ | 228 | $ | 60 | $ | — | $ | — | $ | 5,462 | |||||||||||||||
Loans charged off | (878 | ) | (409 | ) | (553 | ) | — | — | — | (1,840 | ) | ||||||||||||||||||
Recoveries of loans previously charged off | — | 5 | 6 | — | — | — | 11 | ||||||||||||||||||||||
Net loans recovered (charged off) | (878 | ) | (404 | ) | (547 | ) | — | — | — | (1,829 | ) | ||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | (28 | ) | (562 | ) | 597 | (7 | ) | — | — | — | |||||||||||||||||||
Benefit attributable to FDIC loss share agreements | 22 | 450 | (478 | ) | 6 | — | — | — | |||||||||||||||||||||
Net provision for loan losses | (6 | ) | (112 | ) | 119 | (1 | ) | — | — | — | |||||||||||||||||||
Increase in FDIC indemnification asset | (22 | ) | (450 | ) | 478 | (6 | ) | — | — | — | |||||||||||||||||||
Balance, March 31 | 263 | 3,039 | 278 | 53 | — | — | 3,633 | ||||||||||||||||||||||
Loans charged off | (27 | ) | (3,017 | ) | (273 | ) | (157 | ) | — | — | (3,474 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 15 | 8 | 166 | — | — | — | 189 | ||||||||||||||||||||||
Net loans recovered (charged off) | (12 | ) | (3,009 | ) | (107 | ) | (157 | ) | — | — | (3,285 | ) | |||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | 1,456 | 808 | 1,942 | 239 | — | — | 4,445 | ||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (1,140 | ) | (406 | ) | (1,687 | ) | (221 | ) | — | — | (3,454 | ) | |||||||||||||||||
Net provision for loan losses | 316 | 402 | 255 | 18 | — | — | 991 | ||||||||||||||||||||||
Increase in FDIC indemnification asset | 1,140 | 406 | 1,687 | 221 | — | — | 3,454 | ||||||||||||||||||||||
Balance, December 31 | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 1,707 | 838 | 2,113 | 135 | — | — | 4,793 | ||||||||||||||||||||||
Balance, December 31 | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 48,388 | 118,396 | 108,781 | 5,852 | 1,099 | — | 282,516 | ||||||||||||||||||||||
Balance, December 31 | $ | 48,388 | $ | 118,396 | $ | 108,781 | $ | 5,852 | $ | 1,099 | $ | — | $ | 282,516 | |||||||||||||||
Changes in the carrying amount of the accretable yield for purchased credit impaired loans acquired were as follows for the three-month period ended March 31, 2014 for the Company’s covered and non-covered acquisitions: | |||||||||||||||||||||||||||||
Accretable | Carrying | ||||||||||||||||||||||||||||
Yield | Amount of | ||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 119,981 | $ | 573,961 | |||||||||||||||||||||||||
Reforecasted future interest payments for loan pools | 1,936 | — | |||||||||||||||||||||||||||
Accretion | (15,810 | ) | 15,810 | ||||||||||||||||||||||||||
Adjustment to yield | 11,432 | — | |||||||||||||||||||||||||||
Transfers to foreclosed assets held for sale | — | (5,158 | ) | ||||||||||||||||||||||||||
Payments received, net | — | (39,684 | ) | ||||||||||||||||||||||||||
Balance at end of period | $ | 117,539 | $ | 544,929 | |||||||||||||||||||||||||
The loan pools were evaluated by the Company and are currently forecasted to have a slower run-off than originally expected. As a result, the Company has reforecast the total accretable yield expectations for those loan pools by $2.0 million. This updated forecast does not change the expected weighted average yields on the loan pools. | |||||||||||||||||||||||||||||
During the first 2014 quarterly impairment testing, four pools evaluated by the Company were determined to have a materially projected credit improvement. As a result of this improvement, the Company will recognize approximately $11.4 million as an adjustment to yield over the weighted average life of the loans. Improvements in credit quality decrease the basis in the related indemnification assets. This positive event will reduce the indemnification asset by approximately $8.3 million and increase our FDIC true-up liability by $1.1 million. The $8.3 million will be amortized over the weighted average life of the loans or the life of the shared-loss agreements, whichever is shorter. The amortization will be shown as a reduction to FDIC indemnification non-interest income. The $1.1 million will be expensed over the remaining true-up measurement date as other non-interest expense. This will result in approximately $2.0 million of pre-tax net income being recognized going forward which may or may not be symmetrical depending on the weighted average life of the loans. |
Goodwill_and_Core_Deposits_and
Goodwill and Core Deposits and Other Intangibles | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Goodwill and Core Deposits and Other Intangibles | ' | ||||||||
7. Goodwill and Core Deposits and Other Intangibles | |||||||||
Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at March 31, 2014 and December 31, 2013, were as follows: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Goodwill | |||||||||
Balance, beginning of period | $ | 301,736 | $ | 85,681 | |||||
Liberty acquisition | — | 216,055 | |||||||
Balance, end of period | $ | 301,736 | $ | 301,736 | |||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Core Deposit and Other Intangibles | |||||||||
Balance, beginning of period | $ | 22,298 | $ | 12,061 | |||||
Acquisitions | — | — | |||||||
Amortization expense | (1,167 | ) | (802 | ) | |||||
Balance, March 31 | $ | 21,131 | 11,259 | ||||||
Acquisitions | 13,861 | ||||||||
Amortization expense | (2,822 | ) | |||||||
Balance, end of year | $ | 22,298 | |||||||
The carrying basis and accumulated amortization of core deposits and other intangibles at March 31, 2014 and December 31, 2013 were: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Gross carrying basis | $ | 43,524 | $ | 43,524 | |||||
Accumulated amortization | (22,393 | ) | (21,226 | ) | |||||
Net carrying amount | $ | 21,131 | $ | 22,298 | |||||
Core deposit and other intangible amortization expense was approximately $1.2 million and $802,000 for the three-months ended March 31, 2014 and 2013, respectively. Including all of the mergers completed as of March 31, 2014, HBI’s estimated amortization expense of core deposits and other intangibles for each of the years 2014 through 2018 is approximately: 2014 - $4.4 million; 2015 - $3.6 million; 2016 - $2.3 million; 2017 - $2.2 million; 2018 - $2.1 million. | |||||||||
The carrying amount of the Company’s goodwill was $301.7 million at both March 31, 2014 and December 31, 2013. Goodwill is tested annually for impairment during the fourth quarter. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. |
Other_Assets
Other Assets | 3 Months Ended |
Mar. 31, 2014 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' |
Other Assets | ' |
8. Other Assets | |
Other assets consists primarily of FDIC claims receivable, equity securities without a readily determinable fair value and other miscellaneous assets. As of March 31, 2014 and December 31, 2013 other assets were $82.1 million and $81.2 million, respectively. | |
An indemnification asset was created when the Company acquired FDIC covered loans. The indemnification asset represents the carrying amount of the right to receive payments from the FDIC for losses incurred on specified assets acquired from failed insured depository institutions or otherwise purchased from the FDIC that are covered by loss sharing agreements with the FDIC. When the Company experiences a loss on the covered loans and subsequently requests reimbursement of the loss from the FDIC, the indemnification asset is reduced by the FDIC reimbursable amount. A corresponding claim receivable is consequently recorded in other assets until the cash is received from the FDIC. The FDIC claims receivable was $20.4 million and $19.1 million at March 31, 2014 and December 31, 2013, respectively. | |
The Company has equity securities without readily determinable fair values. These equity securities are outside the scope of ASC Topic 320, Investments-Debt and Equity Securities. They include items such as stock holdings in Federal Home Loan Bank, Federal Reserve Bank, Bankers’ Bank and other miscellaneous holdings. The equity securities without a readily determinable fair value were $49.8 million and $52.6 million at March 31, 2014 and December 31, 2013, respectively and are accounted for at cost. |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2014 | |
Banking And Thrift [Abstract] | ' |
Deposits | ' |
9. Deposits | |
The aggregate amount of time deposits with a minimum denomination of $100,000 was $778.2 million and $877.4 million at March 31, 2014 and December 31, 2013, respectively. Interest expense applicable to certificates in excess of $100,000 totaled $1.2 million and $1.1 million for the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014 and December 31, 2013, brokered deposits were $92.8 million and $100.4 million, respectively. | |
Deposits totaling approximately $1.01 billion and $1.02 billion at March 31, 2014 and December 31, 2013, respectively, were public funds obtained primarily from state and political subdivisions in the United States. |
Securities_Sold_Under_Agreemen
Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2014 | |
Banking And Thrift [Abstract] | ' |
Securities Sold Under Agreements to Repurchase | ' |
10. Securities Sold Under Agreements to Repurchase | |
At March 31, 2014 and December 31, 2013, securities sold under agreements to repurchase totaled $137.5 million and $161.0 million, respectively. For the three-month periods ended March 31, 2014 and 2013, securities sold under agreements to repurchase daily weighted average totaled $149.4 million and $69.7 million, respectively. |
FHLB_Borrowed_Funds
FHLB Borrowed Funds | 3 Months Ended |
Mar. 31, 2014 | |
Banking And Thrift [Abstract] | ' |
FHLB Borrowed Funds | ' |
11. FHLB Borrowed Funds | |
The Company’s Federal Home Loan Bank (“FHLB”) borrowed funds were $354.9 million and $350.7 million at March 31, 2014 and December 31, 2013, respectively. At March 31, 2014, $100.1 million and $254.8 million of the outstanding balance were short-term and long-term advances, respectively. At December 31, 2013, $130.3 million and $220.4 million of the outstanding balances were short-term and long-term advances, respectively. The FHLB advances mature from the current year to 2025 with fixed interest rates ranging from 0.15% to 5.96% and are secured by loans and investments securities. Expected maturities will differ from contractual maturities because FHLB may have the right to call or HBI the right to prepay certain obligations. | |
Additionally, the Company had $171.0 million and $191.0 million at March 31, 2014 and December 31, 2013, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at March 31, 2014 and December 31, 2013, respectively. |
Subordinated_Debentures
Subordinated Debentures | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Brokers And Dealers [Abstract] | ' | ||||||||
Subordinated Debentures | ' | ||||||||
12. Subordinated Debentures | |||||||||
Subordinated debentures at March 31, 2014 and December 31, 2013 consisted of guaranteed payments on trust preferred securities with the following components: | |||||||||
As of | As of | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | $ | 3,093 | $ | 3,093 | |||||
Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 15,464 | 15,464 | |||||||
Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 25,774 | 25,774 | |||||||
Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 16,495 | 16,495 | |||||||
Total | $ | 60,826 | $ | 60,826 | |||||
The Company holds $60.8 million of trust preferred securities which are currently callable without penalty based on the terms of the specific agreements. The trust preferred securities are tax-advantaged issues that qualify for Tier 1 capital treatment subject to certain limitations. Distributions on these securities are included in interest expense. Each of the trusts is a statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds in our subordinated debentures, the sole asset of each trust. The trust preferred securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the subordinated debentures held by the trust. We wholly own the common securities of each trust. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon our making payment on the related subordinated debentures. Our obligations under the subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by us of each respective trust’s obligations under the trust securities issued by each respective trust. |
Income_Taxes
Income Taxes | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
13. Income Taxes | |||||||||
The following is a summary of the components of the provision (benefit) for income taxes for the three-month periods ended March 31: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Current: | |||||||||
Federal | $ | 10,032 | $ | 2,494 | |||||
State | 1,993 | 501 | |||||||
Total current | 12,025 | 2,995 | |||||||
Deferred: | |||||||||
Federal | 2,940 | 5,814 | |||||||
State | 584 | 1,154 | |||||||
Total deferred | 3,524 | 6,968 | |||||||
Provision for income taxes | $ | 15,549 | $ | 9,963 | |||||
The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three month periods ended March 31: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Statutory federal income tax rate | 35 | % | 35 | % | |||||
Effect of nontaxable interest income | (2.01 | ) | (2.12 | ) | |||||
Cash value of life insurance | (0.24 | ) | (0.20 | ) | |||||
State income taxes, net of federal benefit | 3.91 | 3.91 | |||||||
Other | (0.40 | ) | (0.38 | ) | |||||
Effective income tax rate | 36.26 | % | 36.21 | % | |||||
The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Deferred tax assets: | |||||||||
Allowance for loan losses | $ | 19,243 | $ | 17,213 | |||||
Deferred compensation | 1,736 | 3,230 | |||||||
Stock options | 299 | 277 | |||||||
Real estate owned | 9,255 | 11,145 | |||||||
Loan discounts | 54,881 | 65,639 | |||||||
Tax basis premium/discount on acquisitions | 19,981 | 20,671 | |||||||
Unrealized loss on securities available-for-sale | — | 2,673 | |||||||
Investments | 2,590 | 2,568 | |||||||
Other | 7,813 | 6,992 | |||||||
Gross deferred tax assets | 115,798 | 130,408 | |||||||
Deferred tax liabilities: | |||||||||
Accelerated depreciation on premises and equipment | 2,306 | 3,616 | |||||||
Unrealized gain on securities available-for-sale | 329 | — | |||||||
Core deposit intangibles | 5,244 | 5,650 | |||||||
Indemnification asset | 22,268 | 29,074 | |||||||
FHLB dividends | 1,602 | 1,602 | |||||||
Other | 1,163 | 1,054 | |||||||
Gross deferred tax liabilities | 32,912 | 40,996 | |||||||
Net deferred tax assets | $ | 82,886 | $ | 89,412 | |||||
Common_Stock_and_Compensation_
Common Stock and Compensation Plans | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||
Common Stock and Compensation Plans | ' | ||||||||||||||||||||
14. Common Stock and Compensation Plans | |||||||||||||||||||||
Common Stock | |||||||||||||||||||||
On April 18, 2013 at the Annual Meeting of Shareholders of the Company, the shareholders approved, as proposed in the Proxy Statement, an amendment to the Company’s Restated Articles of Incorporation to increase the number of authorized shares of common stock from 50,000,000 to 100,000,000. | |||||||||||||||||||||
On April 18, 2013, our Board of Directors declared a 2-for-1 stock split to be paid in the form of a 100% stock dividend on June 12, 2013 (the “Payment Date”) to shareholders of record at the close of business on May 22, 2013. The additional shares were distributed by the Company’s transfer agent, Computershare, and the Company’s common stock began trading on a split-adjusted basis on the NASDAQ Global Select Market on June 13, 2013. The stock split increased the Company’s total shares of common stock outstanding as of June 12, 2013 from 28,121,596 shares to 56,243,192 shares (split adjusted). All previously reported share and per share data included in filings subsequent to the Payment Date are restated to reflect the retroactive effect of this 2-for-1 stock split. | |||||||||||||||||||||
Stock Compensation Plans | |||||||||||||||||||||
The Company has a stock option and performance incentive plan known as the Amended and Restated 2006 Stock Option and Performance Incentive Plan (“the Plan”). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve our business results. The Plan provides for the granting of incentive nonqualified options to purchase stock or for the issuance of restricted shares up to 4,644,000 shares (split adjusted) of common stock in the Company. At March 31, 2014, the Company has approximately 1,552,000 shares of common stock remaining available for grants or issuance under the plan and approximately 2,507,000 shares reserved for issuance of common stock. | |||||||||||||||||||||
The intrinsic value of the stock options outstanding and stock options vested at March 31, 2014 was $23.7 million and $20.3 million, respectively. The intrinsic value of the stock options exercised during the three-month period ended March 31, 2014 was approximately $314,000. Total unrecognized compensation cost, net of income tax benefit, related to non-vested awards, which are expected to be recognized over the vesting periods, was approximately $828,000 as of March 31, 2014. For the first three months of 2014, the Company has expensed $55,000 for the non-vested awards. | |||||||||||||||||||||
The table below summarized the transactions under the Company’s stock option plans at March 31, 2014 and December 31, 2013 and changes during the three-month period and year then ended: | |||||||||||||||||||||
For the Three Months Ended | For the Year Ended | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Shares (000) | Weighted | Shares (000) | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||||
Exercisable | Exercisable | ||||||||||||||||||||
Price | Price | ||||||||||||||||||||
Outstanding, beginning of year | 966 | $ | 9.57 | 871 | $ | 6.66 | |||||||||||||||
Granted | — | — | 184 | 21.24 | |||||||||||||||||
Forfeited | — | — | (3 | ) | 8.6 | ||||||||||||||||
Exercised | 11 | 4.41 | (86 | ) | 5.01 | ||||||||||||||||
Outstanding, end of period | 955 | 9.63 | 966 | 9.57 | |||||||||||||||||
Exercisable, end of period | 731 | $ | 6.61 | 710 | $ | 6.2 | |||||||||||||||
Stock-based compensation expense for stock-based compensation awards granted is based on the grant date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company’s employee stock options. There were no stock options granted during the three-months ended March 31, 2014. The weighted-average fair value of options granted during the year ended December 31, 2013 was $4.50 per share (split adjusted). The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. | |||||||||||||||||||||
For the Three Months Ended | For the Year Ended | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Expected dividend yield | Not applicable | 1.42 | % | ||||||||||||||||||
Expected stock price volatility | Not applicable | 22.09 | % | ||||||||||||||||||
Risk-free interest rate | Not applicable | 1.33 | % | ||||||||||||||||||
Expected life of options | Not applicable | 6.5 years | |||||||||||||||||||
The following is a summary of currently outstanding and exercisable options at March 31, 2014: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Exercise Prices | Options | Weighted- | Weighted- | Options | Weighted- | ||||||||||||||||
Outstanding | Average | Average | Exercisable | Average | |||||||||||||||||
Shares | Remaining | Exercise | Shares | Exercise | |||||||||||||||||
0 | Contractual | Price | 0 | Price | |||||||||||||||||
Life (in years) | |||||||||||||||||||||
$ 3.08 to $3.50 | 13 | 1.08 | $ | 3.33 | 13 | $ | 3.33 | ||||||||||||||
$ 3.92 to $4.34 | 45 | 1.34 | 4.25 | 45 | 4.25 | ||||||||||||||||
$ 4.78 to $4.92 | 81 | 1.32 | 4.82 | 81 | 4.82 | ||||||||||||||||
$ 5.33 to $5.33 | 199 | 1.6 | 5.33 | 199 | 5.33 | ||||||||||||||||
$ 5.54 to $5.54 | 199 | 1.95 | 5.54 | 199 | 5.54 | ||||||||||||||||
$ 8.54 to $8.60 | 81 | 3.79 | 8.57 | 81 | 8.57 | ||||||||||||||||
$ 9.25 to $9.31 | 10 | 3.15 | 9.29 | 10 | 9.29 | ||||||||||||||||
$ 10.16 to $11.37 | 55 | 3.05 | 10.33 | 55 | 10.33 | ||||||||||||||||
$ 13.12 to $13.12 | 88 | 7.81 | 13.12 | 34 | 13.12 | ||||||||||||||||
$ 17.25 to $34.80 | 184 | 9.06 | 21.24 | 14 | 17.25 | ||||||||||||||||
955 | 731 | ||||||||||||||||||||
The table below summarized the activity for the Company’s restricted stock issued and outstanding at March 31, 2014 and December 31, 2013 and changes during the period and year then ended: | |||||||||||||||||||||
As of | As of | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Beginning of year | 256 | 269 | |||||||||||||||||||
Issued | 43 | 35 | |||||||||||||||||||
Vested | (22 | ) | (32 | ) | |||||||||||||||||
Forfeited | (1 | ) | (16 | ) | |||||||||||||||||
End of period | 276 | 256 | |||||||||||||||||||
Amount of expense for three months and twelve months ended, respectively | $ | 417 | $ | 1,086 | |||||||||||||||||
On January 18, 2013, 18,000 shares (split adjusted) of restricted common stock were issued to each non-employee member of our Board of Directors and 4,000 shares (split adjusted) of restricted common stock to a regional president of our bank subsidiary for a total issuance of 22,000 shares (split adjusted) of restricted common stock. The restricted stock issued will vest equally each year over three years beginning on the first anniversary of the issuance. | |||||||||||||||||||||
On June 4, 2013, 12,666 shares (split adjusted) of restricted common stock were issued to a regional president of our bank subsidiary. Of these issued shares, 9,666 shares (split adjusted) will vest equally each year over three years beginning on the first anniversary of the issuance. The remaining 3,000 shares (split adjusted) are subject to performance based vesting (“Performance Shares”). The Performance Shares are set up to “cliff” vest on the third annual anniversary of the date that the performance goal is met. As of September 30, 2013, the performance goal was met when the Company averaged $0.3125 diluted earnings per share (split adjusted) for the past four consecutive quarters or total diluted earnings per share of $1.25 (split adjusted) during the same period. In accordance with the vesting terms of the Performance Shares agreements, the issued shares are due to fully vest on September 30, 2016. | |||||||||||||||||||||
On January 17, 2014, the Company granted 40,000 shares of our restricted common stock to our Chairman, which will vest in three equal annual installments beginning on January 17, 2015, plus 3,000 restricted shares of our common stock to a regional president of our bank subsidiary, which will “cliff” vest on January 17, 2017. | |||||||||||||||||||||
The Company did not utilize a portion of its previously approved stock repurchase program during the first quarter of 2014. This program authorized the repurchase of 2,376,000 shares (split adjusted) of the Company’s common stock. Shares repurchased to date under the program total 1,510,896 shares (split adjusted). The remaining balance available for repurchase is 865,104 shares (split adjusted) at March 31, 2014. |
NonInterest_Expense
Non-Interest Expense | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Non-Interest Expense | ' | ||||||||
15. Non-Interest Expense | |||||||||
The table below shows the components of non-interest expense for the three months ended March 31, 2014 and 2013: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Salaries and employee benefits | $ | 18,933 | $ | 12,952 | |||||
Occupancy and equipment | 6,226 | 3,594 | |||||||
Data processing expense | 1,793 | 1,510 | |||||||
Other operating expenses: | |||||||||
Advertising | 522 | 693 | |||||||
Merger and acquisition expenses | 849 | 28 | |||||||
Amortization of intangibles | 1,167 | 802 | |||||||
Electronic banking expense | 1,338 | 863 | |||||||
Directors’ fees | 227 | 190 | |||||||
Due from bank service charges | 199 | 133 | |||||||
FDIC and state assessment | 1,114 | 630 | |||||||
Insurance | 614 | 566 | |||||||
Legal and accounting | 417 | 322 | |||||||
Other professional fees | 507 | 473 | |||||||
Operating supplies | 472 | 343 | |||||||
Postage | 352 | 207 | |||||||
Telephone | 454 | 303 | |||||||
Other expense | 4,173 | 2,254 | |||||||
Total other operating expenses | 12,405 | 7,807 | |||||||
Total non-interest expense | $ | 39,357 | $ | 25,863 | |||||
Concentration_of_Credit_Risks
Concentration of Credit Risks | 3 Months Ended |
Mar. 31, 2014 | |
Risks And Uncertainties [Abstract] | ' |
Concentration of Credit Risks | ' |
16. Concentration of Credit Risks | |
The Company’s primary market areas are in Arkansas, Florida and South Alabama. The Company primarily grants loans to customers located within these geographical areas unless the borrower has an established relationship with the Company. | |
The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. |
Significant_Estimates_and_Conc
Significant Estimates and Concentrations | 3 Months Ended |
Mar. 31, 2014 | |
Text Block [Abstract] | ' |
Significant Estimates and Concentrations | ' |
17. Significant Estimates and Concentrations | |
Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for loan losses and certain concentrations of credit risk are reflected in Note 6, while deposit concentrations are reflected in Note 9. | |
Although the Company has a diversified loan portfolio, at March 31, 2014 and December 31, 2013, non-covered commercial real estate loans represented 57.3% and 56.8% of gross non-covered loans, respectively, and 272.1% and 283.5% of total stockholders’ equity, respectively. Non-covered residential real estate loans represented 26.6% and 26.9% of gross non-covered loans and 126.3% and 134.0% of total stockholders’ equity at March 31, 2014 and December 31, 2013, respectively. | |
Approximately 90.4% of the Company’s loans as of March 31, 2014, are to the borrowers in Alabama, Arkansas and Florida, the three states in which the Company has its primary market areas. Additionally, the Company has 84.7% of its loans as real estate loans primarily in Arkansas, Florida and South Alabama. | |
Although general economic conditions nationally and locally in our market areas have improved over the past three years and show signs of continued improvement, financial institutions still face circumstances and challenges which in some cases have and could potentially result in large declines in the fair values of investments and other assets, constraints on liquidity and significant credit quality problems, including severe volatility in the valuation of real estate and other collateral supporting loans. The financial statements have been prepared using values and information currently available to the Company. | |
Given the volatility of economy in the latter years of the last decade, the values of assets and liabilities recorded in the financial statements could change rapidly, resulting in material future adjustments in asset values, the allowance for loan losses and capital that could negatively impact the Company’s ability to meet regulatory capital requirements and maintain sufficient liquidity. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
18. Commitments and Contingencies | |
In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of their customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. | |
At March 31, 2014 and December 31, 2013, commitments to extend credit of $667.5 million and $623.5 million, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. | |
Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the credit worthiness of the borrower some of which are long-term. 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. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments. The maximum amount of future payments the Company could be required to make under these guarantees at March 31, 2014 and December 31, 2013, is $20.5 million and $21.4 million, respectively. | |
The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary. |
Regulatory_Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2014 | |
Banking And Thrift [Abstract] | ' |
Regulatory Matters | ' |
19. Regulatory Matters | |
The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75% of the current year earnings plus 75% of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the first quarter of 2014, the Company requested approximately $18.0 million in regular dividends from its banking subsidiary. This dividend is equal to approximately 63.7% of our banking subsidiary’s first quarter earnings. | |
The Federal Reserve Board’s risk-based capital guidelines include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. The criteria for a well-capitalized institution are: a 5% “Tier 1 leverage capital” ratio, a 6% “Tier 1 risk-based capital” ratio, and a 10% “total risk-based capital” ratio. As of March 31, 2014, the Bank met the capital standards for a well-capitalized institution. The Company’s “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 9.08%, 11.67%, and 12.65%, respectively, as of March 31, 2014. |
Additional_Cash_Flow_Informati
Additional Cash Flow Information | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Additional Cash Flow Information | ' | ||||||||
20. Additional Cash Flow Information | |||||||||
The following is summary of the Company’s additional cash flow information during the three-month periods ended: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Interest paid | $ | 4,930 | $ | 3,987 | |||||
Income taxes paid | 500 | 200 | |||||||
Assets acquired by foreclosure | 5,839 | 5,679 |
Financial_Instruments
Financial Instruments | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Financial Instruments | ' | ||||||||||||
21. Financial Instruments | |||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: | |||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities | ||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | ||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | ||||||||||||
Available-for-sale securities are the only material instruments valued on a recurring basis which are held by the Company at fair value. The Company does not have any Level 1 securities. Primarily all of the Company’s securities are considered to be Level 2 securities. These Level 2 securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. As of March 31, 2014 and December 31, 2013, Level 3 securities were immaterial. In addition, there were no material transfers between hierarchy levels during 2014 and 2013. | |||||||||||||
The Corporation reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. | |||||||||||||
Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring basis which are held by the Company at fair value. Loan impairment is reported when full payment under the loan terms is not expected. Impaired loans are carried at the net realizable value of the collateral if the loan is collateral dependent. A portion of the allowance for loan losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. If these allocations cause the allowance for loan losses to require an increase, such increase is reported as a component of the provision for loan losses. The fair value of loans with specific allocated losses was $79.0 million and $91.9 million as of March 31, 2014 and December 31, 2013, respectively. This valuation is considered Level 3, consisting of appraisals of underlying collateral. The Company reversed approximately $104,000 and $129,000 of accrued interest receivable when non-covered impaired loans were put on non-accrual status during the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||
Foreclosed assets held for sale are the only material non-financial assets valued on a non-recurring basis which are held by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for loan losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets held for sale is estimated using Level 3 inputs based on appraisals of underlying collateral. As of March 31, 2014 and December 31, 2013, the fair value of foreclosed assets held for sale not covered by loss share, less estimated costs to sell was $23.5 million and $29.9 million, respectively. | |||||||||||||
The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 20% to 50% for commercial and residential real estate collateral. | |||||||||||||
Fair Values of Financial Instruments | |||||||||||||
The following methods and assumptions were used by the Company in estimating fair values of financial instruments as disclosed in these notes: | |||||||||||||
Cash and cash equivalents and federal funds sold — For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||
Investment securities – held-to-maturity — These securities consist primarily of mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. | |||||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance — For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are assumed to approximate the carrying amounts. The fair values for fixed-rate loans are estimated using discounted cash flow analysis, based on interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Loan fair value estimates include judgments regarding future expected loss experience and risk characteristics. | |||||||||||||
Loans receivable covered by FDIC loss share, net of allowance — Fair values for loans are based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, whether or not the loan was amortizing and current discount rates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. | |||||||||||||
FDIC indemnification asset — Although this asset is a contractual receivable from the FDIC, there is no effective interest rate. The Bank will collect this asset over the next several years. The amount ultimately collected will depend on the timing and amount of collections and charge-offs on the acquired assets covered by the loss sharing agreement. While this asset was recorded at its estimated fair value at acquisition date, it is not practicable to complete a fair value analysis on a quarterly or annual basis. This would involve preparing a fair value analysis of the entire portfolio of loans and foreclosed assets covered by the loss sharing agreement on a quarterly or annual basis in order to estimate the fair value of the FDIC indemnification asset. | |||||||||||||
Accrued interest receivable — The carrying amount of accrued interest receivable approximates its fair value. | |||||||||||||
Deposits and securities sold under agreements to repurchase — The fair values of demand, savings deposits and securities sold under agreements to repurchase are, by definition, equal to the amount payable on demand and therefore approximate their carrying amounts. The fair values for time deposits are estimated using a discounted cash flow calculation that utilizes interest rates currently being offered on time deposits with similar contractual maturities. | |||||||||||||
FHLB borrowed funds — For short-term instruments, the carrying amount is a reasonable estimate of fair value. The fair value of long-term debt is estimated based on the current rates available to the Company for debt with similar terms and remaining maturities. | |||||||||||||
Accrued interest payable — The carrying amount of accrued interest payable approximates its fair value. | |||||||||||||
Subordinated debentures — The fair value of subordinated debentures is estimated using the rates that would be charged for subordinated debentures of similar remaining maturities. | |||||||||||||
Commitments to extend credit, letters of credit and lines of credit — The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. The fair value of these commitments is not material. | |||||||||||||
The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. | |||||||||||||
March 31, 2014 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 214,559 | $ | 214,559 | 1 | ||||||||
Federal funds sold | 22,925 | 22,925 | 1 | ||||||||||
Investment securities – held-to-maturity | 132,363 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,003,575 | 3,987,044 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 265,674 | 265,674 | 3 | ||||||||||
FDIC indemnification asset | 73,348 | 73,348 | 3 | ||||||||||
Accrued interest receivable | 21,865 | 21,865 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 1,057,148 | $ | 1,057,148 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,827,787 | 2,827,787 | 1 | ||||||||||
Time deposits | 1,453,575 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 137,524 | 137,524 | 1 | ||||||||||
FHLB borrowed funds | 354,935 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,162 | 1,162 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 | ||||||||||
December 31, 2013 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 165,534 | $ | 165,534 | 1 | ||||||||
Federal funds sold | 4,275 | 4,275 | 1 | ||||||||||
Investment securities – held-to-maturity | 114,621 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,063,469 | 4,053,098 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 277,723 | 277,723 | 3 | ||||||||||
FDIC indemnification asset | 89,611 | 89,611 | 3 | ||||||||||
Accrued interest receivable | 22,944 | 22,944 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 991,161 | $ | 991,161 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,792,423 | 2,792,423 | 1 | ||||||||||
Time deposits | 1,609,462 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 160,984 | 160,984 | 1 | ||||||||||
FHLB borrowed funds | 350,661 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,252 | 1,252 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
22. Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-04, “Receivables: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (Topic 310-40).” ASU 2014-04 clarifies that an in substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments may be adopted using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. Adoption of ASU 2014-04 is not expected to have a significant effect on the Company’s financial statements. | |
In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Affordable Housing Projects (Topic 323).” ASU 2014-01 revises the necessary criteria that need to be met in order for an entity to account for investments in affordable housing projects net of the provision for income taxes. It also changes the method of recognition from an effective amortization approach to a proportional amortization approach. Additional disclosures were also set forth in this update. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments are required to be applied retrospectively to all periods presented. Early adoption is permitted. Adoption of ASU 2014-01 is not expected to have a significant effect on the Company’s financial statements. | |
Presently, the Company is not aware of any changes from the Financial Accounting Standards Board that will have a material impact on the Company’s present or future financial statements. |
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
23. Subsequent Events | |
Business Combination – Subsequent to March 31, 2014, on April 25, 2014, Home BancShares, Inc. (“Home” or “the Company”) entered into a definitive agreement with Florida Traditions Bank (“Traditions”) to acquire all of the outstanding shares of Traditions, which will be merged into Centennial Bank. | |
Under the terms of the Agreement, shareholders of Traditions will receive approximately $43.0 million of Home common stock. The number of shares of Home common stock to be issued to Traditions shareholders will be determined based on the average closing price of Home common stock for the 20 trading days immediately prior to the closing date. If, however, the 20-day average closing price of Home exceeds $40.25 immediately prior to closing, the number of shares of Home common stock issuable will be based on the $40.25 price. In addition, if the 20-day average closing price of the Home common stock decreases to $29.75 or below, then the Agreement may be terminated by Home. | |
Traditions currently operates eight banking locations in Central Florida, including its main office in Dade City, Florida. As of March 31, 2014, Traditions had approximately $312.0 million in total assets, $248.8 million in loans, and $277.7 million in deposits. Upon completion of the transaction, the combined company will have approximately $7.09 billion in total assets, $5.62 billion in deposits, $4.60 billion in loans and 155 branches across Arkansas, Florida and South Alabama. | |
The transaction is expected to be accretive to the Company’s book value per share, tangible book value per share, diluted earnings per share and net income. The acquisition is expected to close in the third quarter and is subject to shareholder approval, regulatory approvals, and other customary conditions. | |
Nature_of_Operations_and_Summa1
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Operating Segments | ' | ||||||||||||
Operating Segments | |||||||||||||
Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar community banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the valuation of foreclosed assets, the valuations of assets acquired and liabilities assumed in business combinations, covered loans and the related indemnification asset. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. | |||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||
Reclassifications | ' | ||||||||||||
Reclassifications | |||||||||||||
Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. | |||||||||||||
Interim financial information | ' | ||||||||||||
Interim financial information | |||||||||||||
The accompanying unaudited consolidated financial statements as of March 31, 2014 and 2013 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. | |||||||||||||
The information furnished in these interim statements reflects all adjustments, which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2013 Form 10-K, filed with the Securities and Exchange Commission. | |||||||||||||
Earnings per Share | ' | ||||||||||||
Earnings per Share | |||||||||||||
Basic earnings per share is computed based on the weighted average number of shares outstanding during each year, which have been restated to reflect the effect of the 2-for-1 stock split during June 2013. Diluted earnings per share is computed using the weighted average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (EPS) for the following periods: | |||||||||||||
Three Months Ended | |||||||||||||
March 31, | |||||||||||||
2014 | 2013 | ||||||||||||
(In thousands, except | |||||||||||||
per share data) | |||||||||||||
Net income | $ | 27,337 | $ | 17,548 | |||||||||
Average shares outstanding | 65,123 | 56,222 | |||||||||||
Effect of common stock options | 388 | 313 | |||||||||||
Average diluted shares outstanding | 65,511 | 56,535 | |||||||||||
Basic earnings per share | $ | 0.42 | $ | 0.31 | |||||||||
Diluted earnings per share | $ | 0.42 | $ | 0.31 | |||||||||
Debt and Equity Securities | ' | ||||||||||||
The Company evaluated loans purchased in conjunction with the acquisitions under purchase and assumption agreements with the FDIC for impairment in accordance with the provisions of FASB ASC Topic 310-30. Purchased covered loans are considered impaired if there is evidence of credit deterioration since origination and if it is probable that not all contractually required payments will be collected. | |||||||||||||
The following table reflects the carrying value of all purchased FDIC covered impaired loans as of March 31, 2014 and December 31, 2013 for the Company: | |||||||||||||
March 31, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Real estate: | |||||||||||||
Commercial real estate loans | |||||||||||||
Non-farm/non-residential | $ | 113,593 | $ | 117,164 | |||||||||
Construction/land development | 45,381 | 48,388 | |||||||||||
Agricultural | 1,184 | 1,232 | |||||||||||
Residential real estate loans | |||||||||||||
Residential 1-4 family | 92,918 | 98,403 | |||||||||||
Multifamily residential | 10,043 | 10,378 | |||||||||||
Total real estate | 263,119 | 275,565 | |||||||||||
Consumer | 16 | 20 | |||||||||||
Commercial and industrial | 6,440 | 5,852 | |||||||||||
Other | 1,066 | 1,079 | |||||||||||
Loans receivable covered by FDIC loss share | $ | 270,641 | $ | 282,516 | |||||||||
The acquired loans were grouped into pools based on common risk characteristics and were recorded at their estimated fair values, which incorporated estimated credit losses at the acquisition dates. These loan pools are systematically reviewed by the Company to determine material changes in cash flow estimates from those identified at the time of the acquisition. Techniques used in determining risk of loss are similar to the Centennial Bank non-covered loan portfolio, with most focus being placed on those loan pools which include the larger loan relationships and those loan pools which exhibit higher risk characteristics. As of March, 31, 2014 and December 31, 2013, $36.5 million and $35.8 million, respectively, were accruing loans past due 90 days or more. | |||||||||||||
Fair Value Measurement | ' | ||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: | |||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities | ||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | ||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | ||||||||||||
Available-for-sale securities are the only material instruments valued on a recurring basis which are held by the Company at fair value. The Company does not have any Level 1 securities. Primarily all of the Company’s securities are considered to be Level 2 securities. These Level 2 securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. As of March 31, 2014 and December 31, 2013, Level 3 securities were immaterial. In addition, there were no material transfers between hierarchy levels during 2014 and 2013. | |||||||||||||
The Corporation reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. | |||||||||||||
Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring basis which are held by the Company at fair value. Loan impairment is reported when full payment under the loan terms is not expected. Impaired loans are carried at the net realizable value of the collateral if the loan is collateral dependent. A portion of the allowance for loan losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. If these allocations cause the allowance for loan losses to require an increase, such increase is reported as a component of the provision for loan losses. The fair value of loans with specific allocated losses was $79.0 million and $91.9 million as of March 31, 2014 and December 31, 2013, respectively. This valuation is considered Level 3, consisting of appraisals of underlying collateral. The Company reversed approximately $104,000 and $129,000 of accrued interest receivable when non-covered impaired loans were put on non-accrual status during the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||
Foreclosed assets held for sale are the only material non-financial assets valued on a non-recurring basis which are held by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for loan losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets held for sale is estimated using Level 3 inputs based on appraisals of underlying collateral. As of March 31, 2014 and December 31, 2013, the fair value of foreclosed assets held for sale not covered by loss share, less estimated costs to sell was $23.5 million and $29.9 million, respectively. | |||||||||||||
The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 20% to 50% for commercial and residential real estate collateral. | |||||||||||||
Fair Values of Financial Instruments | |||||||||||||
The following methods and assumptions were used by the Company in estimating fair values of financial instruments as disclosed in these notes: | |||||||||||||
Cash and cash equivalents and federal funds sold — For these short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||
Investment securities – held-to-maturity — These securities consist primarily of mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. | |||||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance — For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are assumed to approximate the carrying amounts. The fair values for fixed-rate loans are estimated using discounted cash flow analysis, based on interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Loan fair value estimates include judgments regarding future expected loss experience and risk characteristics. | |||||||||||||
Loans receivable covered by FDIC loss share, net of allowance — Fair values for loans are based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, whether or not the loan was amortizing and current discount rates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. | |||||||||||||
FDIC indemnification asset — Although this asset is a contractual receivable from the FDIC, there is no effective interest rate. The Bank will collect this asset over the next several years. The amount ultimately collected will depend on the timing and amount of collections and charge-offs on the acquired assets covered by the loss sharing agreement. While this asset was recorded at its estimated fair value at acquisition date, it is not practicable to complete a fair value analysis on a quarterly or annual basis. This would involve preparing a fair value analysis of the entire portfolio of loans and foreclosed assets covered by the loss sharing agreement on a quarterly or annual basis in order to estimate the fair value of the FDIC indemnification asset. | |||||||||||||
Accrued interest receivable — The carrying amount of accrued interest receivable approximates its fair value. | |||||||||||||
Deposits and securities sold under agreements to repurchase — The fair values of demand, savings deposits and securities sold under agreements to repurchase are, by definition, equal to the amount payable on demand and therefore approximate their carrying amounts. The fair values for time deposits are estimated using a discounted cash flow calculation that utilizes interest rates currently being offered on time deposits with similar contractual maturities. | |||||||||||||
FHLB borrowed funds — For short-term instruments, the carrying amount is a reasonable estimate of fair value. The fair value of long-term debt is estimated based on the current rates available to the Company for debt with similar terms and remaining maturities. | |||||||||||||
Accrued interest payable — The carrying amount of accrued interest payable approximates its fair value. | |||||||||||||
Subordinated debentures — The fair value of subordinated debentures is estimated using the rates that would be charged for subordinated debentures of similar remaining maturities. | |||||||||||||
Commitments to extend credit, letters of credit and lines of credit — The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. The fair value of these commitments is not material. | |||||||||||||
The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. | |||||||||||||
March 31, 2014 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 214,559 | $ | 214,559 | 1 | ||||||||
Federal funds sold | 22,925 | 22,925 | 1 | ||||||||||
Investment securities – held-to-maturity | 132,363 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,003,575 | 3,987,044 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 265,674 | 265,674 | 3 | ||||||||||
FDIC indemnification asset | 73,348 | 73,348 | 3 | ||||||||||
Accrued interest receivable | 21,865 | 21,865 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 1,057,148 | $ | 1,057,148 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,827,787 | 2,827,787 | 1 | ||||||||||
Time deposits | 1,453,575 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 137,524 | 137,524 | 1 | ||||||||||
FHLB borrowed funds | 354,935 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,162 | 1,162 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 | ||||||||||
December 31, 2013 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 165,534 | $ | 165,534 | 1 | ||||||||
Federal funds sold | 4,275 | 4,275 | 1 | ||||||||||
Investment securities – held-to-maturity | 114,621 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,063,469 | 4,053,098 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 277,723 | 277,723 | 3 | ||||||||||
FDIC indemnification asset | 89,611 | 89,611 | 3 | ||||||||||
Accrued interest receivable | 22,944 | 22,944 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 991,161 | $ | 991,161 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,792,423 | 2,792,423 | 1 | ||||||||||
Time deposits | 1,609,462 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 160,984 | 160,984 | 1 | ||||||||||
FHLB borrowed funds | 350,661 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,252 | 1,252 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 |
Nature_of_Operations_and_Summa2
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Computation of Basic and Diluted Earnings per Common Share (EPS) | ' | ||||||||
The following table sets forth the computation of basic and diluted earnings per share (EPS) for the following periods: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands, except | |||||||||
per share data) | |||||||||
Net income | $ | 27,337 | $ | 17,548 | |||||
Average shares outstanding | 65,123 | 56,222 | |||||||
Effect of common stock options | 388 | 313 | |||||||
Average diluted shares outstanding | 65,511 | 56,535 | |||||||
Basic earnings per share | $ | 0.42 | $ | 0.31 | |||||
Diluted earnings per share | $ | 0.42 | $ | 0.31 |
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities that are classified as available-for-sale and held-to-maturity are as follows: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 428,846 | $ | 1,341 | $ | (3,059 | ) | $ | 427,128 | ||||||||||||||||
Mortgage-backed securities | 505,502 | 3,630 | (2,869 | ) | 506,263 | ||||||||||||||||||||
State and political subdivisions | 185,446 | 4,590 | (2,187 | ) | 187,849 | ||||||||||||||||||||
Other securities | 55,193 | 308 | (914 | ) | 54,587 | ||||||||||||||||||||
Total | $ | 1,174,987 | $ | 9,869 | $ | (9,029 | ) | $ | 1,175,827 | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 467,535 | $ | 1,330 | $ | (5,324 | ) | $ | 463,541 | ||||||||||||||||
Mortgage-backed securities | 462,510 | 3,343 | (4,265 | ) | 461,588 | ||||||||||||||||||||
State and political subdivisions | 196,472 | 3,085 | (4,045 | ) | 195,512 | ||||||||||||||||||||
Other securities | 55,780 | 216 | (1,153 | ) | 54,843 | ||||||||||||||||||||
Total | $ | 1,182,297 | $ | 7,974 | $ | (14,787 | ) | $ | 1,175,484 | ||||||||||||||||
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Classified as Held-to-Maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities that are classified as available-for-sale and held-to-maturity are as follows: | |||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Mortgage-backed securities | $ | 16,115 | $ | — | $ | — | $ | 16,115 | |||||||||||||||||
State and political subdivisions | 116,248 | 1,253 | (36 | ) | 117,465 | ||||||||||||||||||||
Total | $ | 132,363 | $ | 1,253 | $ | (36 | ) | $ | 133,580 | ||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||
Gains | (Losses) | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
State and political subdivisions | $ | 114,621 | $ | 361 | $ | (1,081 | ) | $ | 113,901 | ||||||||||||||||
Total | $ | 114,621 | $ | 361 | $ | (1,081 | ) | $ | 113,901 | ||||||||||||||||
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of securities classified as available-for-sale and held-to-maturity at March 31, 2014, by contractual maturity, are 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. | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 379,855 | $ | 378,114 | $ | 34,101 | $ | 34,254 | |||||||||||||||||
Due after one year through five years | 542,091 | 543,482 | 69,979 | 70,449 | |||||||||||||||||||||
Due after five years through ten years | 223,603 | 224,078 | 23,409 | 24,003 | |||||||||||||||||||||
Due after ten years | 29,438 | 30,153 | 4,874 | 4,874 | |||||||||||||||||||||
Total | $ | 1,174,987 | $ | 1,175,827 | $ | 132,363 | $ | 133,580 | |||||||||||||||||
Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity | ' | ||||||||||||||||||||||||
The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale and held-to-maturity with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 304,835 | $ | (2,839 | ) | $ | 16,567 | $ | (220 | ) | $ | 321,402 | $ | (3,059 | ) | ||||||||||
Mortgage-backed securities | 265,405 | (2,470 | ) | 13,732 | (399 | ) | 279,137 | (2,869 | ) | ||||||||||||||||
State and political subdivisions | 66,537 | (1,880 | ) | 6,971 | (343 | ) | 73,508 | (2,223 | ) | ||||||||||||||||
Other securities | 26,094 | (900 | ) | 3,002 | (14 | ) | 29,096 | (914 | ) | ||||||||||||||||
Total | $ | 662,871 | $ | (8,089 | ) | $ | 40,272 | $ | (976 | ) | $ | 703,143 | $ | (9,065 | ) | ||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 312,674 | $ | (5,205 | ) | $ | 6,529 | $ | (119 | ) | $ | 319,203 | $ | (5,324 | ) | ||||||||||
Mortgage-backed securities | 267,105 | (3,968 | ) | 11,749 | (297 | ) | 278,854 | (4,265 | ) | ||||||||||||||||
State and political subdivisions | 130,718 | (4,831 | ) | 4,042 | (295 | ) | 134,760 | (5,126 | ) | ||||||||||||||||
Other securities | 36,125 | (1,153 | ) | — | — | 36,125 | (1,153 | ) | |||||||||||||||||
Total | $ | 746,622 | $ | (15,157 | ) | $ | 22,320 | $ | (711 | ) | $ | 768,942 | $ | (15,868 | ) | ||||||||||
Schedule of Income Earned on Securities | ' | ||||||||||||||||||||||||
Income earned on securities for the three months ended March 31, 2014 and 2013, is as follows: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Taxable: | |||||||||||||||||||||||||
Available-for-sale | $ | 4,420 | $ | 2,403 | |||||||||||||||||||||
Held-to-maturity | 50 | — | |||||||||||||||||||||||
Non-taxable: | |||||||||||||||||||||||||
Available-for-sale | 1,490 | 1,481 | |||||||||||||||||||||||
Held-to-maturity | 827 | — | |||||||||||||||||||||||
Total | $ | 6,787 | $ | 3,884 | |||||||||||||||||||||
Loans_Receivable_Not_Covered_b1
Loans Receivable Not Covered by Loss Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Summary of Various Categories of Loans not Covered by Loss Share | ' | ||||||||
The various categories of loans not covered by loss share are summarized as follows: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Real estate: | |||||||||
Commercial real estate loans | |||||||||
Non-farm/non-residential | $ | 1,722,910 | $ | 1,739,668 | |||||
Construction/land development | 566,205 | 562,667 | |||||||
Agricultural | 74,775 | 81,618 | |||||||
Residential real estate loans | |||||||||
Residential 1-4 family | 890,981 | 913,332 | |||||||
Multifamily residential | 206,348 | 213,232 | |||||||
Total real estate | 3,461,219 | 3,510,517 | |||||||
Consumer | 60,735 | 69,570 | |||||||
Commercial and industrial | 491,525 | 511,421 | |||||||
Agricultural | 44,017 | 37,129 | |||||||
Other | 69,068 | 65,800 | |||||||
Loans receivable not covered by loss share | $ | 4,126,564 | $ | 4,194,437 | |||||
Loans_Receivable_Covered_by_FD1
Loans Receivable Covered by FDIC Loss Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Carrying Value of All Purchased Covered Impaired Loans | ' | ||||||||
The following table reflects the carrying value of all purchased FDIC covered impaired loans as of March 31, 2014 and December 31, 2013 for the Company: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Real estate: | |||||||||
Commercial real estate loans | |||||||||
Non-farm/non-residential | $ | 113,593 | $ | 117,164 | |||||
Construction/land development | 45,381 | 48,388 | |||||||
Agricultural | 1,184 | 1,232 | |||||||
Residential real estate loans | |||||||||
Residential 1-4 family | 92,918 | 98,403 | |||||||
Multifamily residential | 10,043 | 10,378 | |||||||
Total real estate | 263,119 | 275,565 | |||||||
Consumer | 16 | 20 | |||||||
Commercial and industrial | 6,440 | 5,852 | |||||||
Other | 1,066 | 1,079 | |||||||
Loans receivable covered by FDIC loss share | $ | 270,641 | $ | 282,516 | |||||
Allowance_for_Loan_Losses_Cred1
Allowance for Loan Losses, Credit Quality and Other (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Summary of Changes in Allowance for Covered and Non-Covered Loan Losses | ' | ||||||||||||||||||||||||||||
The following table presents a summary of changes in the allowance for loan losses for the non-covered and covered loan portfolios for the three months ended March 31, 2014: | |||||||||||||||||||||||||||||
For Loans | For Loans | Total | |||||||||||||||||||||||||||
Not Covered | Covered by FDIC | ||||||||||||||||||||||||||||
by Loss Share | Loss Share | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 39,022 | $ | 4,793 | $ | 43,815 | |||||||||||||||||||||||
Loans charged off | 2,424 | — | 2,424 | ||||||||||||||||||||||||||
Recoveries of loans previously charged off | 488 | 174 | 662 | ||||||||||||||||||||||||||
Net loans recovered (charged off) | (1,936 | ) | 174 | (1,762 | ) | ||||||||||||||||||||||||
Provision for loan losses for non-covered loans | 6,938 | — | 6,938 | ||||||||||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | — | — | — | ||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | — | — | — | ||||||||||||||||||||||||||
Net provision for loan losses for covered loans | — | — | — | ||||||||||||||||||||||||||
Increase in FDIC indemnification asset | — | — | — | ||||||||||||||||||||||||||
Balance, March 31 | $ | 44,024 | $ | 4,967 | $ | 48,991 | |||||||||||||||||||||||
Balance of Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses for the non-covered loan portfolio for the three-month period ended March 31, 2014 and the allowance for loan losses and recorded investment in loans not covered by loss share based on portfolio segment by impairment method as of March 31, 2014. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Additionally, the Company’s discount for credit losses on non-covered loans acquired was $164.3 million and $174.6 million at March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
Loans charged off | (22 | ) | (67 | ) | (613 | ) | (868 | ) | (854 | ) | — | (2,424 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 25 | 22 | 57 | 35 | 349 | — | 488 | ||||||||||||||||||||||
Net loans recovered (charged off) | 3 | (45 | ) | (556 | ) | (833 | ) | (505 | ) | — | (1,936 | ) | |||||||||||||||||
Provision for loan losses | (160 | ) | 1,662 | 1,423 | 2,767 | 1,588 | (342 | ) | 6,938 | ||||||||||||||||||||
Balance, March 31 | $ | 6,125 | $ | 16,717 | $ | 9,756 | $ | 3,867 | $ | 3,646 | $ | 3,913 | $ | 44,024 | |||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 2,600 | $ | 8,319 | $ | 2,323 | $ | 5 | $ | — | $ | — | $ | 13,247 | |||||||||||||||
Loans collectively evaluated for impairment | 3,525 | 8,398 | 7,433 | 3,862 | 3,646 | 3,913 | 30,777 | ||||||||||||||||||||||
Loans evaluated for impairment, balance, March 31 | 6,125 | 16,717 | 9,756 | 3,867 | 3,646 | 3,913 | 44,024 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | — | — | — | — | — | — | — | ||||||||||||||||||||||
Balance, March 31 | $ | 6,125 | $ | 16,717 | $ | 9,756 | $ | 3,867 | $ | 3,646 | $ | 3,913 | $ | 44,024 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 27,406 | $ | 55,185 | $ | 26,089 | $ | 5,957 | $ | 285 | $ | — | $ | 114,922 | |||||||||||||||
Loans collectively evaluated for impairment | 511,500 | 1,595,560 | 995,121 | 467,212 | 167,961 | — | 3,737,354 | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | 538,906 | 1,650,745 | 1,021,210 | 473,169 | 168,246 | — | 3,852,276 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 27,299 | 146,940 | 76,119 | 18,356 | 5,574 | — | 274,288 | ||||||||||||||||||||||
Balance, March 31 | $ | 566,205 | $ | 1,797,685 | $ | 1,097,329 | $ | 491,525 | $ | 173,820 | $ | — | $ | 4,126,564 | |||||||||||||||
The following tables present the balance in the allowance for loan losses for the non-covered loan portfolio for the three-month period ended March 31, 2013 and the year ended December 31, 2013, and the allowance for loan losses and recorded investment in loans not covered by loss share based on portfolio segment by impairment method as of December 31, 2013. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 5,816 | $ | 19,974 | $ | 13,813 | $ | 3,870 | $ | 1,288 | $ | 409 | $ | 45,170 | |||||||||||||||
Loans charged off | (118 | ) | (245 | ) | (2,053 | ) | (35 | ) | (867 | ) | — | (3,318 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 15 | 17 | 180 | 15 | 223 | — | 450 | ||||||||||||||||||||||
Net loans recovered (charged off) | (103 | ) | (228 | ) | (1,873 | ) | (20 | ) | (644 | ) | — | (2,868 | ) | ||||||||||||||||
Provision for loan losses | 484 | (1,235 | ) | (2,111 | ) | (1,023 | ) | 393 | 3,492 | — | |||||||||||||||||||
Balance, March 31 | 6,197 | 18,511 | 9,829 | 2,827 | 1,037 | 3,901 | 42,302 | ||||||||||||||||||||||
Loans charged off | (880 | ) | (3,809 | ) | (4,255 | ) | (502 | ) | (1,433 | ) | — | (10,879 | ) | ||||||||||||||||
Recoveries of loans previously charged off | 19 | 2,054 | 802 | 57 | 478 | — | 3,410 | ||||||||||||||||||||||
Net loans recovered (charged off) | (861 | ) | (1,755 | ) | (3,453 | ) | (445 | ) | (955 | ) | — | (7,469 | ) | ||||||||||||||||
Provision for loan losses | 946 | (1,656 | ) | 2,513 | (449 | ) | 2,481 | 354 | 4,189 | ||||||||||||||||||||
Balance, December 31 | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,826 | $ | 8,359 | $ | 2,347 | $ | 5 | $ | — | $ | — | $ | 14,537 | |||||||||||||||
Loans collectively evaluated for impairment | 2,456 | 6,741 | 6,542 | 1,928 | 2,563 | 4,255 | 24,485 | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | 6,282 | 15,100 | 8,889 | 1,933 | 2,563 | 4,255 | 39,022 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | — | — | — | — | — | — | — | ||||||||||||||||||||||
Balance, December 31 | $ | 6,282 | $ | 15,100 | $ | 8,889 | $ | 1,933 | $ | 2,563 | $ | 4,255 | $ | 39,022 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 32,560 | $ | 76,559 | $ | 20,112 | $ | 5,563 | $ | 223 | $ | — | $ | 135,017 | |||||||||||||||
Loans collectively evaluated for impairment | 500,279 | 1,592,343 | 1,027,093 | 484,036 | 164,224 | — | 3,767,975 | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | 532,839 | 1,668,902 | 1,047,205 | 489,599 | 164,447 | — | 3,902,992 | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 29,828 | 152,384 | 79,359 | 21,822 | 8,052 | — | 291,445 | ||||||||||||||||||||||
Balance, December 31 | $ | 562,667 | $ | 1,821,286 | $ | 1,126,564 | $ | 511,421 | $ | 172,499 | $ | — | $ | 4,194,437 | |||||||||||||||
Summary of Aging Analysis for Non-Covered Loan Portfolio | ' | ||||||||||||||||||||||||||||
The following is an aging analysis for the non-covered loan portfolio as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Total | Current | Total Loans | Accruing | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Loans | Receivable | Loans | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days | Past Due | ||||||||||||||||||||||||||
or More | 90 Days | ||||||||||||||||||||||||||||
or More | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 2,861 | $ | 3,066 | $ | 13,114 | $ | 19,041 | $ | 1,703,869 | $ | 1,722,910 | $ | 7,494 | |||||||||||||||
Construction/land development | 236 | 361 | 6,214 | 6,811 | 559,394 | 566,205 | 4,505 | ||||||||||||||||||||||
Agricultural | 22 | — | 79 | 101 | 74,674 | 74,775 | — | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 4,898 | 2,395 | 14,550 | 21,843 | 869,138 | 890,981 | 6,195 | ||||||||||||||||||||||
Multifamily residential | 214 | — | 2,905 | 3,119 | 203,229 | 206,348 | 676 | ||||||||||||||||||||||
Total real estate | 8,231 | 5,822 | 36,862 | 50,915 | 3,410,304 | 3,461,219 | 18,870 | ||||||||||||||||||||||
Consumer | 356 | 102 | 285 | 743 | 59,992 | 60,735 | 89 | ||||||||||||||||||||||
Commercial and industrial | 884 | 445 | 5,531 | 6,860 | 484,665 | 491,525 | 3,022 | ||||||||||||||||||||||
Agricultural and other | 461 | 25 | — | 486 | 112,599 | 113,085 | — | ||||||||||||||||||||||
Total | $ | 9,932 | $ | 6,394 | $ | 42,678 | $ | 59,004 | $ | 4,067,560 | $ | 4,126,564 | $ | 21,981 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Total | Current | Total Loans | Accruing | |||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Loans | Receivable | Loans | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days | Past Due | ||||||||||||||||||||||||||
or More | 90 Days | ||||||||||||||||||||||||||||
or More | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 4,849 | $ | 2,275 | $ | 13,007 | $ | 20,131 | $ | 1,719,537 | $ | 1,739,668 | $ | 7,914 | |||||||||||||||
Construction/land development | 2,206 | 352 | 5,959 | 8,517 | 554,150 | 562,667 | 4,879 | ||||||||||||||||||||||
Agricultural | 1,040 | 1,082 | 89 | 2,211 | 79,407 | 81,618 | — | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 7,936 | 2,676 | 13,775 | 24,387 | 888,945 | 913,332 | 6,492 | ||||||||||||||||||||||
Multifamily residential | — | 1,437 | 2 | 1,439 | 211,793 | 213,232 | 1 | ||||||||||||||||||||||
Total real estate | 16,031 | 7,822 | 32,832 | 56,685 | 3,453,832 | 3,510,517 | 19,286 | ||||||||||||||||||||||
Consumer | 717 | 226 | 224 | 1,167 | 68,403 | 69,570 | 100 | ||||||||||||||||||||||
Commercial and industrial | 4,363 | 405 | 5,218 | 9,986 | 501,435 | 511,421 | 3,755 | ||||||||||||||||||||||
Agricultural and other | 778 | 110 | — | 888 | 102,041 | 102,929 | — | ||||||||||||||||||||||
Total | $ | 21,889 | $ | 8,563 | $ | 38,274 | $ | 68,726 | $ | 4,125,711 | $ | 4,194,437 | $ | 23,141 | |||||||||||||||
Summary of Non-Covered Impaired Loans | ' | ||||||||||||||||||||||||||||
The following is a summary of the non-covered impaired loans as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Unpaid | Allocation | Three Months Ended | |||||||||||||||||||||||||||
Contractual | Total | of Allowance | Average | Interest | |||||||||||||||||||||||||
Principal | Recorded | for Loan | Recorded | Recognized | |||||||||||||||||||||||||
Balance | Investment | Losses | Investment | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 1,932 | $ | 1,932 | $ | — | $ | 1,691 | $ | 14 | |||||||||||||||||||
Construction/land development | — | — | — | — | — | ||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 108 | 108 | — | 57 | 2 | ||||||||||||||||||||||||
Multifamily residential | — | — | — | — | — | ||||||||||||||||||||||||
Total real estate | 2,040 | 2,040 | — | 1,748 | 16 | ||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | — | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans without a specific valuation allowance | 2,040 | 2,040 | — | 1,748 | 16 | ||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 47,628 | 44,448 | 8,319 | 48,853 | 434 | ||||||||||||||||||||||||
Construction/land development | 19,501 | 16,889 | 2,600 | 22,060 | 154 | ||||||||||||||||||||||||
Agricultural | 79 | 79 | — | 84 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 20,011 | 17,260 | 1,255 | 16,929 | 124 | ||||||||||||||||||||||||
Multifamily residential | 5,441 | 5,254 | 1,068 | 3,659 | 28 | ||||||||||||||||||||||||
Total real estate | 92,660 | 83,930 | 13,242 | 91,585 | 740 | ||||||||||||||||||||||||
Consumer | 336 | 285 | — | 254 | 2 | ||||||||||||||||||||||||
Commercial and industrial | 7,350 | 5,957 | 5 | 5,760 | 43 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans with a specific valuation allowance | 100,346 | 90,172 | 13,247 | 97,599 | 785 | ||||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 49,560 | 46,380 | 8,319 | 50,544 | 448 | ||||||||||||||||||||||||
Construction/land development | 19,501 | 16,889 | 2,600 | 22,060 | 154 | ||||||||||||||||||||||||
Agricultural | 79 | 79 | — | 84 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 20,119 | 17,368 | 1,255 | 16,986 | 126 | ||||||||||||||||||||||||
Multifamily residential | 5,441 | 5,254 | 1,068 | 3,659 | 28 | ||||||||||||||||||||||||
Total real estate | 94,700 | 85,970 | 13,242 | 93,333 | 756 | ||||||||||||||||||||||||
Consumer | 336 | 285 | — | 254 | 2 | ||||||||||||||||||||||||
Commercial and industrial | 7,350 | 5,957 | 5 | 5,760 | 43 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total impaired loans | $ | 102,386 | $ | 92,212 | $ | 13,247 | $ | 99,347 | $ | 801 | |||||||||||||||||||
Note: Purchased non-covered loans acquired with deteriorated credit quality are accounted for on a pooled basis under ASC 310-30. All of these pools are currently considered to be performing resulting in none of the purchased non-covered loans acquired with deteriorated credit quality being classified as non-covered impaired loans as of March 31, 2014. | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Unpaid | Allocation | Year Ended | |||||||||||||||||||||||||||
Contractual | Total | of Allowance | Average | Interest | |||||||||||||||||||||||||
Principal | Recorded | for Loan | Recorded | Recognized | |||||||||||||||||||||||||
Balance | Investment | Losses | Investment | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 1,449 | $ | — | $ | — | $ | 3,958 | $ | 177 | |||||||||||||||||||
Construction/land development | — | — | — | 106 | 8 | ||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 6 | 6 | — | 1,016 | 34 | ||||||||||||||||||||||||
Multifamily residential | — | — | — | 534 | 1 | ||||||||||||||||||||||||
Total real estate | 1,455 | 6 | — | 5,614 | 220 | ||||||||||||||||||||||||
Consumer | — | — | — | — | — | ||||||||||||||||||||||||
Commercial and industrial | — | — | — | 132 | 6 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans without a specific valuation allowance | 1,455 | 6 | — | 5,746 | 226 | ||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 56,465 | 54,707 | 8,359 | 55,361 | 2,205 | ||||||||||||||||||||||||
Construction/land development | 29,461 | 27,231 | 3,826 | 23,121 | 878 | ||||||||||||||||||||||||
Agricultural | 89 | 89 | — | 83 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 19,188 | 16,599 | 1,265 | 13,248 | 373 | ||||||||||||||||||||||||
Multifamily residential | 2,065 | 2,065 | 1,082 | 3,683 | 100 | ||||||||||||||||||||||||
Total real estate | 107,268 | 100,691 | 14,532 | 95,496 | 3,556 | ||||||||||||||||||||||||
Consumer | 254 | 223 | — | 385 | 5 | ||||||||||||||||||||||||
Commercial and industrial | 7,059 | 5,563 | 5 | 2,503 | 67 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total loans with a specific valuation allowance | 114,581 | 106,477 | 14,537 | 98,384 | 3,628 | ||||||||||||||||||||||||
Total impaired loans | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 57,914 | 54,707 | 8,359 | 59,319 | 2,382 | ||||||||||||||||||||||||
Construction/land development | 29,461 | 27,231 | 3,826 | 23,227 | 886 | ||||||||||||||||||||||||
Agricultural | 89 | 89 | — | 83 | — | ||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 19,194 | 16,605 | 1,265 | 14,264 | 407 | ||||||||||||||||||||||||
Multifamily residential | 2,065 | 2,065 | 1,082 | 4,217 | 101 | ||||||||||||||||||||||||
Total real estate | 108,723 | 100,697 | 14,532 | 101,110 | 3,776 | ||||||||||||||||||||||||
Consumer | 254 | 223 | — | 385 | 5 | ||||||||||||||||||||||||
Commercial and industrial | 7,059 | 5,563 | 5 | 2,635 | 73 | ||||||||||||||||||||||||
Agricultural and other | — | — | — | — | — | ||||||||||||||||||||||||
Total impaired loans | $ | 116,036 | $ | 106,483 | $ | 14,537 | $ | 104,130 | $ | 3,854 | |||||||||||||||||||
Note: Purchased non-covered loans acquired with deteriorated credit quality are accounted for on a pooled basis under ASC 310-30. All of these pools are currently considered to be performing resulting in none of the purchased non-covered loans acquired with deteriorated credit quality being classified as non-covered impaired loans as of December 31, 2013. | |||||||||||||||||||||||||||||
Presentation of Classified and Non-Covered Loans by Class and Risk Rating | ' | ||||||||||||||||||||||||||||
The Company’s classified loans include loans in risk ratings 6, 7 and 8. The following is a presentation of classified non-covered loans (excluding loans accounted for under ASC Topic 310-30) by class as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Risk Rated 6 | Risk Rated 7 | Risk Rated 8 | Classified Total | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 49,425 | $ | 24 | $ | — | $ | 49,449 | |||||||||||||||||||||
Construction/land development | 18,170 | 26 | — | 18,196 | |||||||||||||||||||||||||
Agricultural | 80 | — | — | 80 | |||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 14,200 | 198 | — | 14,398 | |||||||||||||||||||||||||
Multifamily residential | 4,094 | — | — | 4,094 | |||||||||||||||||||||||||
Total real estate | 85,969 | 248 | — | 86,217 | |||||||||||||||||||||||||
Consumer | 446 | — | — | 446 | |||||||||||||||||||||||||
Commercial and industrial | 3,697 | 3 | — | 3,700 | |||||||||||||||||||||||||
Agricultural and other | 32 | — | — | 32 | |||||||||||||||||||||||||
Total | $ | 90,144 | $ | 251 | $ | — | $ | 90,395 | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Risk Rated 6 | Risk Rated 7 | Risk Rated 8 | Classified Total | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 55,874 | $ | 1 | $ | — | $ | 55,875 | |||||||||||||||||||||
Construction/land development | 19,140 | — | — | 19,140 | |||||||||||||||||||||||||
Agricultural | 89 | — | — | 89 | |||||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 12,747 | 196 | — | 12,943 | |||||||||||||||||||||||||
Multifamily residential | 2,064 | — | — | 2,064 | |||||||||||||||||||||||||
Total real estate | 89,914 | 197 | — | 90,111 | |||||||||||||||||||||||||
Consumer | 454 | — | — | 454 | |||||||||||||||||||||||||
Commercial and industrial | 2,620 | 2 | — | 2,622 | |||||||||||||||||||||||||
Agricultural and other | 32 | — | — | 32 | |||||||||||||||||||||||||
Total | $ | 93,020 | $ | 199 | $ | — | $ | 93,219 | |||||||||||||||||||||
Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $1.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. | |||||||||||||||||||||||||||||
The following is a presentation of non-covered loans by class and risk rating as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Classified | Total | |||||||||||||||||||||||
Rated 1 | Rated 2 | Rated 3 | Rated 4 | Rated 5 | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 134 | $ | 2,207 | $ | 1,025,315 | $ | 476,412 | $ | 23,403 | $ | 49,449 | $ | 1,576,920 | |||||||||||||||
Construction/land development | 16 | 117 | 193,762 | 316,218 | 10,597 | 18,196 | 538,906 | ||||||||||||||||||||||
Agricultural | — | — | 48,751 | 24,092 | 902 | 80 | 73,825 | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 383 | 70 | 636,637 | 154,358 | 16,172 | 14,398 | 822,018 | ||||||||||||||||||||||
Multifamily residential | — | — | 147,010 | 46,903 | 1,185 | 4,094 | 199,192 | ||||||||||||||||||||||
Total real estate | 533 | 2,394 | 2,051,475 | 1,017,983 | 52,259 | 86,217 | 3,210,861 | ||||||||||||||||||||||
Consumer | 14,137 | 28 | 35,663 | 7,593 | 809 | 446 | 58,676 | ||||||||||||||||||||||
Commercial and industrial | 13,850 | 5,853 | 298,979 | 147,684 | 3,103 | 3,700 | 473,169 | ||||||||||||||||||||||
Agricultural and other | 591 | 5,568 | 84,295 | 18,867 | 217 | 32 | 109,570 | ||||||||||||||||||||||
Total risk rated loans | $ | 29,111 | $ | 13,843 | $ | 2,470,412 | $ | 1,192,127 | $ | 56,388 | $ | 90,395 | $ | 3,852,276 | |||||||||||||||
Purchased credit impaired loans acquired | 274,288 | ||||||||||||||||||||||||||||
Total non-covered loans | $ | 4,126,564 | |||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Classified | Total | |||||||||||||||||||||||
Rated 1 | Rated 2 | Rated 3 | Rated 4 | Rated 5 | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | $ | 3 | $ | 3,135 | $ | 1,039,110 | $ | 462,957 | $ | 28,380 | $ | 55,875 | $ | 1,589,460 | |||||||||||||||
Construction/land development | 54 | 94 | 198,228 | 303,590 | 11,732 | 19,140 | 532,838 | ||||||||||||||||||||||
Agricultural | 55 | — | 53,633 | 24,901 | 764 | 89 | 79,442 | ||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 393 | 146 | 654,739 | 155,744 | 17,241 | 12,943 | 841,206 | ||||||||||||||||||||||
Multifamily residential | — | — | 150,023 | 52,233 | 1,679 | 2,064 | 205,999 | ||||||||||||||||||||||
Total real estate | 505 | 3,375 | 2,095,733 | 999,425 | 59,796 | 90,111 | 3,248,945 | ||||||||||||||||||||||
Consumer | 15,566 | 32 | 42,647 | 7,244 | 848 | 454 | 66,791 | ||||||||||||||||||||||
Commercial and industrial | 25,809 | 5,845 | 300,108 | 151,986 | 3,229 | 2,622 | 489,599 | ||||||||||||||||||||||
Agricultural and other | 675 | 7,138 | 74,676 | 14,462 | 674 | 32 | 97,657 | ||||||||||||||||||||||
Total risk rated loans | $ | 42,555 | $ | 16,390 | $ | 2,513,164 | $ | 1,173,117 | $ | 64,547 | $ | 93,219 | $ | 3,902,992 | |||||||||||||||
Purchased credit impaired loans acquired | 291,445 | ||||||||||||||||||||||||||||
Total non-covered loans | $ | 4,194,437 | |||||||||||||||||||||||||||
Presentation of Non-Covered TDR's by Class | ' | ||||||||||||||||||||||||||||
The following is a presentation of non-covered TDR’s by class as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Number | Pre-Modification | Rate | Term | Rate | Post- | ||||||||||||||||||||||||
of Loans | Outstanding | Modification | Modification | & Term | Modification | ||||||||||||||||||||||||
Balance | Modification | Outstanding | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 11 | $ | 25,993 | $ | 8,488 | $ | 8,383 | $ | 5,729 | $ | 22,600 | ||||||||||||||||||
Construction/land development | 3 | 8,324 | 5,772 | 1,794 | — | 7,566 | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 8 | 1,646 | 429 | 720 | 168 | 1,317 | |||||||||||||||||||||||
Multifamily residential | 2 | 3,182 | 2,054 | — | 295 | 2,349 | |||||||||||||||||||||||
Total real estate | 24 | 39,145 | 16,743 | 10,897 | 6,192 | 33,832 | |||||||||||||||||||||||
Commercial and industrial | 1 | 380 | — | — | 338 | 338 | |||||||||||||||||||||||
Total | 25 | $ | 39,525 | $ | 16,743 | $ | 10,897 | $ | 6,530 | $ | 34,170 | ||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Number | Pre-Modification | Rate | Term | Rate | Post- | ||||||||||||||||||||||||
of Loans | Outstanding | Modification | Modification | & Term | Modification | ||||||||||||||||||||||||
Balance | Modification | Outstanding | |||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 14 | $ | 36,454 | $ | 13,029 | $ | 8,384 | $ | 10,554 | $ | 31,967 | ||||||||||||||||||
Construction/land development | 3 | 8,324 | 5,811 | 1,794 | — | 7,605 | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 8 | 1,646 | 589 | 727 | 170 | 1,486 | |||||||||||||||||||||||
Multifamily residential | 1 | 2,887 | 2,063 | — | — | 2,063 | |||||||||||||||||||||||
Total real estate | 26 | 49,311 | 21,492 | 10,905 | 10,724 | 43,121 | |||||||||||||||||||||||
Commercial and industrial | 1 | 380 | — | — | 345 | 345 | |||||||||||||||||||||||
Total | 27 | $ | 49,691 | $ | 21,492 | $ | 10,905 | $ | 11,069 | $ | 43,466 | ||||||||||||||||||
Presentation of Non-Covered TDR's on Non-Accrual Status | ' | ||||||||||||||||||||||||||||
The following is a presentation of non-covered TDR’s on non-accrual status as of March 31, 2014 and December 31, 2013 because they are not in compliance with the modified terms: | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Number of Loans | Recorded Balance | Number of Loans | Recorded Balance | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||
Non-farm/non-residential | 2 | $ | 555 | — | $ | — | |||||||||||||||||||||||
Residential real estate loans | |||||||||||||||||||||||||||||
Residential 1-4 family | 4 | 688 | 4 | 854 | |||||||||||||||||||||||||
Total real estate | 6 | 1,243 | 4 | 854 | |||||||||||||||||||||||||
Total | 6 | $ | 1,243 | 4 | $ | 854 | |||||||||||||||||||||||
Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans Acquired | ' | ||||||||||||||||||||||||||||
Changes in the carrying amount of the accretable yield for purchased credit impaired loans acquired were as follows for the three-month period ended March 31, 2014 for the Company’s covered and non-covered acquisitions: | |||||||||||||||||||||||||||||
Accretable | Carrying | ||||||||||||||||||||||||||||
Yield | Amount of | ||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 119,981 | $ | 573,961 | |||||||||||||||||||||||||
Reforecasted future interest payments for loan pools | 1,936 | — | |||||||||||||||||||||||||||
Accretion | (15,810 | ) | 15,810 | ||||||||||||||||||||||||||
Adjustment to yield | 11,432 | — | |||||||||||||||||||||||||||
Transfers to foreclosed assets held for sale | — | (5,158 | ) | ||||||||||||||||||||||||||
Payments received, net | — | (39,684 | ) | ||||||||||||||||||||||||||
Balance at end of period | $ | 117,539 | $ | 544,929 | |||||||||||||||||||||||||
For Loans Covered by FDIC Loss Share [Member] | ' | ||||||||||||||||||||||||||||
Balance of Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses for the covered loan portfolio for the three-month period ended March 31, 2014, and the allowance for loan losses and recorded investment in loans covered by FDIC loss share based on portfolio segment by impairment method as of March 31, 2014. | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
Loans charged off | — | — | — | — | — | — | — | ||||||||||||||||||||||
Recoveries of loans previously charged off | 6 | — | 168 | — | — | — | 174 | ||||||||||||||||||||||
Net loans recovered (charged off) | 6 | — | 168 | — | — | — | 174 | ||||||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | 10 | 1,345 | (1,364 | ) | 9 | — | — | — | |||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (10 | ) | (1,345 | ) | 1,364 | (9 | ) | — | — | — | |||||||||||||||||||
Net provision for loan losses | — | — | — | — | — | — | — | ||||||||||||||||||||||
Increase in FDIC indemnification asset | 10 | 1,345 | (1,364 | ) | 9 | — | — | — | |||||||||||||||||||||
Balance, March 31 | $ | 1,723 | $ | 2,183 | $ | 917 | $ | 144 | $ | — | $ | — | $ | 4,967 | |||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 1,723 | 2,183 | 917 | 144 | — | — | 4,967 | ||||||||||||||||||||||
Balance, March 31 | $ | 1,723 | $ | 2,183 | $ | 917 | $ | 144 | $ | — | $ | — | $ | 4,967 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, March 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 45,381 | 114,777 | 102,960 | 6,440 | 1,083 | — | 270,641 | ||||||||||||||||||||||
Balance, March 31 | $ | 45,381 | $ | 114,777 | $ | 102,960 | $ | 6,440 | $ | 1,083 | $ | — | $ | 270,641 | |||||||||||||||
The following tables present the balance in the allowance for loan losses for the covered loan portfolio for the three-month period ended March 31, 2013 and the year ended December 31, 2013, and the allowance for loan losses and recorded investment in loans covered by FDIC loss share based on portfolio segment by impairment method as of December 31, 2013. | |||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,169 | $ | 4,005 | $ | 228 | $ | 60 | $ | — | $ | — | $ | 5,462 | |||||||||||||||
Loans charged off | (878 | ) | (409 | ) | (553 | ) | — | — | — | (1,840 | ) | ||||||||||||||||||
Recoveries of loans previously charged off | — | 5 | 6 | — | — | — | 11 | ||||||||||||||||||||||
Net loans recovered (charged off) | (878 | ) | (404 | ) | (547 | ) | — | — | — | (1,829 | ) | ||||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | (28 | ) | (562 | ) | 597 | (7 | ) | — | — | — | |||||||||||||||||||
Benefit attributable to FDIC loss share agreements | 22 | 450 | (478 | ) | 6 | — | — | — | |||||||||||||||||||||
Net provision for loan losses | (6 | ) | (112 | ) | 119 | (1 | ) | — | — | — | |||||||||||||||||||
Increase in FDIC indemnification asset | (22 | ) | (450 | ) | 478 | (6 | ) | — | — | — | |||||||||||||||||||
Balance, March 31 | 263 | 3,039 | 278 | 53 | — | — | 3,633 | ||||||||||||||||||||||
Loans charged off | (27 | ) | (3,017 | ) | (273 | ) | (157 | ) | — | — | (3,474 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 15 | 8 | 166 | — | — | — | 189 | ||||||||||||||||||||||
Net loans recovered (charged off) | (12 | ) | (3,009 | ) | (107 | ) | (157 | ) | — | — | (3,285 | ) | |||||||||||||||||
Provision for loan losses before benefit attributable to FDIC loss share agreements | 1,456 | 808 | 1,942 | 239 | — | — | 4,445 | ||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (1,140 | ) | (406 | ) | (1,687 | ) | (221 | ) | — | — | (3,454 | ) | |||||||||||||||||
Net provision for loan losses | 316 | 402 | 255 | 18 | — | — | 991 | ||||||||||||||||||||||
Increase in FDIC indemnification asset | 1,140 | 406 | 1,687 | 221 | — | — | 3,454 | ||||||||||||||||||||||
Balance, December 31 | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Construction/ | Other | Residential | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||
Land | Commercial | Real Estate | & Industrial | & Other | |||||||||||||||||||||||||
Development | Real Estate | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 1,707 | 838 | 2,113 | 135 | — | — | 4,793 | ||||||||||||||||||||||
Balance, December 31 | $ | 1,707 | $ | 838 | $ | 2,113 | $ | 135 | $ | — | $ | — | $ | 4,793 | |||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Period end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
Loans collectively evaluated for impairment | — | — | — | — | — | — | — | ||||||||||||||||||||||
Loans evaluated for impairment balance, December 31 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Purchased credit impaired loans acquired | 48,388 | 118,396 | 108,781 | 5,852 | 1,099 | — | 282,516 | ||||||||||||||||||||||
Balance, December 31 | $ | 48,388 | $ | 118,396 | $ | 108,781 | $ | 5,852 | $ | 1,099 | $ | — | $ | 282,516 | |||||||||||||||
Goodwill_and_Core_Deposits_and1
Goodwill and Core Deposits and Other Intangibles (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles | ' | ||||||||
Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at March 31, 2014 and December 31, 2013, were as follows: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Goodwill | |||||||||
Balance, beginning of period | $ | 301,736 | $ | 85,681 | |||||
Liberty acquisition | — | 216,055 | |||||||
Balance, end of period | $ | 301,736 | $ | 301,736 | |||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Core Deposit and Other Intangibles | |||||||||
Balance, beginning of period | $ | 22,298 | $ | 12,061 | |||||
Acquisitions | — | — | |||||||
Amortization expense | (1,167 | ) | (802 | ) | |||||
Balance, March 31 | $ | 21,131 | 11,259 | ||||||
Acquisitions | 13,861 | ||||||||
Amortization expense | (2,822 | ) | |||||||
Balance, end of year | $ | 22,298 | |||||||
Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles | ' | ||||||||
The carrying basis and accumulated amortization of core deposits and other intangibles at March 31, 2014 and December 31, 2013 were: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Gross carrying basis | $ | 43,524 | $ | 43,524 | |||||
Accumulated amortization | (22,393 | ) | (21,226 | ) | |||||
Net carrying amount | $ | 21,131 | $ | 22,298 | |||||
Subordinated_Debentures_Tables
Subordinated Debentures (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Brokers And Dealers [Abstract] | ' | ||||||||
Preferred Trust Securities and Subordinated Debentures | ' | ||||||||
Subordinated debentures at March 31, 2014 and December 31, 2013 consisted of guaranteed payments on trust preferred securities with the following components: | |||||||||
As of | As of | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | $ | 3,093 | $ | 3,093 | |||||
Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 15,464 | 15,464 | |||||||
Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 25,774 | 25,774 | |||||||
Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty | 16,495 | 16,495 | |||||||
Total | $ | 60,826 | $ | 60,826 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Summary of Components of Provision (Benefit) for Income Taxes | ' | ||||||||
The following is a summary of the components of the provision (benefit) for income taxes for the three-month periods ended March 31: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Current: | |||||||||
Federal | $ | 10,032 | $ | 2,494 | |||||
State | 1,993 | 501 | |||||||
Total current | 12,025 | 2,995 | |||||||
Deferred: | |||||||||
Federal | 2,940 | 5,814 | |||||||
State | 584 | 1,154 | |||||||
Total deferred | 3,524 | 6,968 | |||||||
Provision for income taxes | $ | 15,549 | $ | 9,963 | |||||
Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate | ' | ||||||||
The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three month periods ended March 31: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Statutory federal income tax rate | 35 | % | 35 | % | |||||
Effect of nontaxable interest income | (2.01 | ) | (2.12 | ) | |||||
Cash value of life insurance | (0.24 | ) | (0.20 | ) | |||||
State income taxes, net of federal benefit | 3.91 | 3.91 | |||||||
Other | (0.40 | ) | (0.38 | ) | |||||
Effective income tax rate | 36.26 | % | 36.21 | % | |||||
Differences between Tax Basis of Assets and Liabilities | ' | ||||||||
The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
(In thousands) | |||||||||
Deferred tax assets: | |||||||||
Allowance for loan losses | $ | 19,243 | $ | 17,213 | |||||
Deferred compensation | 1,736 | 3,230 | |||||||
Stock options | 299 | 277 | |||||||
Real estate owned | 9,255 | 11,145 | |||||||
Loan discounts | 54,881 | 65,639 | |||||||
Tax basis premium/discount on acquisitions | 19,981 | 20,671 | |||||||
Unrealized loss on securities available-for-sale | — | 2,673 | |||||||
Investments | 2,590 | 2,568 | |||||||
Other | 7,813 | 6,992 | |||||||
Gross deferred tax assets | 115,798 | 130,408 | |||||||
Deferred tax liabilities: | |||||||||
Accelerated depreciation on premises and equipment | 2,306 | 3,616 | |||||||
Unrealized gain on securities available-for-sale | 329 | — | |||||||
Core deposit intangibles | 5,244 | 5,650 | |||||||
Indemnification asset | 22,268 | 29,074 | |||||||
FHLB dividends | 1,602 | 1,602 | |||||||
Other | 1,163 | 1,054 | |||||||
Gross deferred tax liabilities | 32,912 | 40,996 | |||||||
Net deferred tax assets | $ | 82,886 | $ | 89,412 | |||||
Common_Stock_and_Compensation_1
Common Stock and Compensation Plans (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||
Summary of Transactions under Company's Stock Option Plans | ' | ||||||||||||||||||||
The table below summarized the transactions under the Company’s stock option plans at March 31, 2014 and December 31, 2013 and changes during the three-month period and year then ended: | |||||||||||||||||||||
For the Three Months Ended | For the Year Ended | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Shares (000) | Weighted | Shares (000) | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||||
Exercisable | Exercisable | ||||||||||||||||||||
Price | Price | ||||||||||||||||||||
Outstanding, beginning of year | 966 | $ | 9.57 | 871 | $ | 6.66 | |||||||||||||||
Granted | — | — | 184 | 21.24 | |||||||||||||||||
Forfeited | — | — | (3 | ) | 8.6 | ||||||||||||||||
Exercised | 11 | 4.41 | (86 | ) | 5.01 | ||||||||||||||||
Outstanding, end of period | 955 | 9.63 | 966 | 9.57 | |||||||||||||||||
Exercisable, end of period | 731 | $ | 6.61 | 710 | $ | 6.2 | |||||||||||||||
Summary of Stock Options on Valuation Assumptions | ' | ||||||||||||||||||||
For the Three Months Ended | For the Year Ended | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
Expected dividend yield | Not applicable | 1.42 | % | ||||||||||||||||||
Expected stock price volatility | Not applicable | 22.09 | % | ||||||||||||||||||
Risk-free interest rate | Not applicable | 1.33 | % | ||||||||||||||||||
Expected life of options | Not applicable | 6.5 years | |||||||||||||||||||
Summary of Currently Outstanding and Exercisable Options | ' | ||||||||||||||||||||
The following is a summary of currently outstanding and exercisable options at March 31, 2014: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Exercise Prices | Options | Weighted- | Weighted- | Options | Weighted- | ||||||||||||||||
Outstanding | Average | Average | Exercisable | Average | |||||||||||||||||
Shares | Remaining | Exercise | Shares | Exercise | |||||||||||||||||
0 | Contractual | Price | 0 | Price | |||||||||||||||||
Life (in years) | |||||||||||||||||||||
$ 3.08 to $3.50 | 13 | 1.08 | $ | 3.33 | 13 | $ | 3.33 | ||||||||||||||
$ 3.92 to $4.34 | 45 | 1.34 | 4.25 | 45 | 4.25 | ||||||||||||||||
$ 4.78 to $4.92 | 81 | 1.32 | 4.82 | 81 | 4.82 | ||||||||||||||||
$ 5.33 to $5.33 | 199 | 1.6 | 5.33 | 199 | 5.33 | ||||||||||||||||
$ 5.54 to $5.54 | 199 | 1.95 | 5.54 | 199 | 5.54 | ||||||||||||||||
$ 8.54 to $8.60 | 81 | 3.79 | 8.57 | 81 | 8.57 | ||||||||||||||||
$ 9.25 to $9.31 | 10 | 3.15 | 9.29 | 10 | 9.29 | ||||||||||||||||
$ 10.16 to $11.37 | 55 | 3.05 | 10.33 | 55 | 10.33 | ||||||||||||||||
$ 13.12 to $13.12 | 88 | 7.81 | 13.12 | 34 | 13.12 | ||||||||||||||||
$ 17.25 to $34.80 | 184 | 9.06 | 21.24 | 14 | 17.25 | ||||||||||||||||
955 | 731 | ||||||||||||||||||||
Summary of Company's Restricted Stock Issued and Outstanding | ' | ||||||||||||||||||||
The table below summarized the activity for the Company’s restricted stock issued and outstanding at March 31, 2014 and December 31, 2013 and changes during the period and year then ended: | |||||||||||||||||||||
As of | As of | ||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Beginning of year | 256 | 269 | |||||||||||||||||||
Issued | 43 | 35 | |||||||||||||||||||
Vested | (22 | ) | (32 | ) | |||||||||||||||||
Forfeited | (1 | ) | (16 | ) | |||||||||||||||||
End of period | 276 | 256 | |||||||||||||||||||
Amount of expense for three months and twelve months ended, respectively | $ | 417 | $ | 1,086 | |||||||||||||||||
NonInterest_Expense_Tables
Non-Interest Expense (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Components of Non-Interest Expense | ' | ||||||||
The table below shows the components of non-interest expense for the three months ended March 31, 2014 and 2013: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Salaries and employee benefits | $ | 18,933 | $ | 12,952 | |||||
Occupancy and equipment | 6,226 | 3,594 | |||||||
Data processing expense | 1,793 | 1,510 | |||||||
Other operating expenses: | |||||||||
Advertising | 522 | 693 | |||||||
Merger and acquisition expenses | 849 | 28 | |||||||
Amortization of intangibles | 1,167 | 802 | |||||||
Electronic banking expense | 1,338 | 863 | |||||||
Directors’ fees | 227 | 190 | |||||||
Due from bank service charges | 199 | 133 | |||||||
FDIC and state assessment | 1,114 | 630 | |||||||
Insurance | 614 | 566 | |||||||
Legal and accounting | 417 | 322 | |||||||
Other professional fees | 507 | 473 | |||||||
Operating supplies | 472 | 343 | |||||||
Postage | 352 | 207 | |||||||
Telephone | 454 | 303 | |||||||
Other expense | 4,173 | 2,254 | |||||||
Total other operating expenses | 12,405 | 7,807 | |||||||
Total non-interest expense | $ | 39,357 | $ | 25,863 | |||||
Additional_Cash_Flow_Informati1
Additional Cash Flow Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Summary of Additional Cash Flow Information | ' | ||||||||
The following is summary of the Company’s additional cash flow information during the three-month periods ended: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Interest paid | $ | 4,930 | $ | 3,987 | |||||
Income taxes paid | 500 | 200 | |||||||
Assets acquired by foreclosure | 5,839 | 5,679 |
Financial_Instruments_Tables
Financial Instruments (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Estimated Fair Values of Financial Instruments | ' | ||||||||||||
The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. | |||||||||||||
March 31, 2014 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 214,559 | $ | 214,559 | 1 | ||||||||
Federal funds sold | 22,925 | 22,925 | 1 | ||||||||||
Investment securities – held-to-maturity | 132,363 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,003,575 | 3,987,044 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 265,674 | 265,674 | 3 | ||||||||||
FDIC indemnification asset | 73,348 | 73,348 | 3 | ||||||||||
Accrued interest receivable | 21,865 | 21,865 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 1,057,148 | $ | 1,057,148 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,827,787 | 2,827,787 | 1 | ||||||||||
Time deposits | 1,453,575 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 137,524 | 137,524 | 1 | ||||||||||
FHLB borrowed funds | 354,935 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,162 | 1,162 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 | ||||||||||
December 31, 2013 | |||||||||||||
Carrying | |||||||||||||
Amount | Fair Value | Level | |||||||||||
(In thousands) | |||||||||||||
Financial assets: | |||||||||||||
Cash and cash equivalents | $ | 165,534 | $ | 165,534 | 1 | ||||||||
Federal funds sold | 4,275 | 4,275 | 1 | ||||||||||
Investment securities – held-to-maturity | 114,621 | 113,901 | 2 | ||||||||||
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,063,469 | 4,053,098 | 3 | ||||||||||
Loans receivable covered by FDIC loss share, net of allowance | 277,723 | 277,723 | 3 | ||||||||||
FDIC indemnification asset | 89,611 | 89,611 | 3 | ||||||||||
Accrued interest receivable | 22,944 | 22,944 | 1 | ||||||||||
Financial liabilities: | |||||||||||||
Deposits: | |||||||||||||
Demand and non-interest bearing | $ | 991,161 | $ | 991,161 | 1 | ||||||||
Savings and interest-bearing transaction accounts | 2,792,423 | 2,792,423 | 1 | ||||||||||
Time deposits | 1,609,462 | 1,606,664 | 3 | ||||||||||
Federal funds purchased | — | — | N/A | ||||||||||
Securities sold under agreements to repurchase | 160,984 | 160,984 | 1 | ||||||||||
FHLB borrowed funds | 350,661 | 357,674 | 2 | ||||||||||
Accrued interest payable | 1,252 | 1,252 | 1 | ||||||||||
Subordinated debentures | 60,826 | 60,826 | 3 |
Nature_of_Operations_and_Summa3
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) | 0 Months Ended | 3 Months Ended |
Apr. 18, 2013 | Mar. 31, 2014 | |
Segments | ||
Regulatory Assets [Abstract] | ' | ' |
Number of Reportable Segments | ' | 1 |
Stock split conversion ratio | 2 | 2 |
Nature_of_Operations_and_Summa4
Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Earnings Per Share [Abstract] | ' | ' | ||
Net income | $27,337 | $17,548 | ||
Average shares outstanding | 65,123 | 56,222 | ||
Effect of common stock options | 388 | 313 | ||
Average diluted shares outstanding | 65,511 | 56,535 | ||
Basic earnings per share | $0.42 | [1] | $0.31 | [1] |
Diluted earnings per share | $0.42 | [1] | $0.31 | [1] |
[1] | All per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013. |
Business_Combinations_Acquisit
Business Combinations - Acquisition Liberty Bancshares, Inc. - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | |
Mar. 31, 2014 | Oct. 24, 2013 | Dec. 31, 2013 | |
Liberty Bank [Member] | Liberty Bank [Member] | ||
Arkansas [Member] | |||
BankingCenters | |||
Business Acquisition [Line Items] | ' | ' | ' |
Common stock issued | ' | 8,763,930 | ' |
Common stock issued value | ' | $290,100,000 | ' |
Cash in exchange for outstanding shares | ' | 30,000,000 | ' |
Date of completion of acquisition | 24-Oct-13 | ' | ' |
Number of banking centers | ' | ' | 46 |
Acquired assets | ' | 2,820,000,000 | ' |
Performing loans including loan discounts | ' | 1,730,000,000 | ' |
Assumed deposits | ' | $2,130,000,000 | ' |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Amortized Cost | $1,174,987 | $1,182,297 |
Gross Unrealized Gains | 9,869 | 7,974 |
Gross Unrealized (Losses) | -9,029 | -14,787 |
Estimated Fair Value | 1,175,827 | 1,175,484 |
U.S. Government-sponsored enterprises [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Amortized Cost | 428,846 | 467,535 |
Gross Unrealized Gains | 1,341 | 1,330 |
Gross Unrealized (Losses) | -3,059 | -5,324 |
Estimated Fair Value | 427,128 | 463,541 |
Mortgage-backed securities [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Amortized Cost | 505,502 | 462,510 |
Gross Unrealized Gains | 3,630 | 3,343 |
Gross Unrealized (Losses) | -2,869 | -4,265 |
Estimated Fair Value | 506,263 | 461,588 |
State and political subdivisions [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Amortized Cost | 185,446 | 196,472 |
Gross Unrealized Gains | 4,590 | 3,085 |
Gross Unrealized (Losses) | -2,187 | -4,045 |
Estimated Fair Value | 187,849 | 195,512 |
Other securities [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Amortized Cost | 55,193 | 55,780 |
Gross Unrealized Gains | 308 | 216 |
Gross Unrealized (Losses) | -914 | -1,153 |
Estimated Fair Value | $54,587 | $54,843 |
Investment_Securities_Amortize1
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Classified as Held-to-Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Schedule Of Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Estimated Fair Value | $132,363 | $114,621 | $0 |
Held-to-maturity [Member] | ' | ' | ' |
Schedule Of Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Amortized Cost | 132,363 | 114,621 | ' |
Gross Unrealized Gains | 1,253 | 361 | ' |
Gross Unrealized (Losses) | -36 | -1,081 | ' |
Estimated Fair Value | 133,580 | 113,901 | ' |
Held-to-maturity [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Schedule Of Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Amortized Cost | 16,115 | ' | ' |
Gross Unrealized Gains | ' | ' | ' |
Gross Unrealized (Losses) | ' | ' | ' |
Estimated Fair Value | 16,115 | ' | ' |
Held-to-maturity [Member] | State and political subdivisions [Member] | ' | ' | ' |
Schedule Of Held-to-Maturity Securities [Line Items] | ' | ' | ' |
Amortized Cost | 116,248 | 114,621 | ' |
Gross Unrealized Gains | 1,253 | 361 | ' |
Gross Unrealized (Losses) | -36 | -1,081 | ' |
Estimated Fair Value | $117,465 | $113,901 | ' |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Security | |||
Available For Sale Securities [Abstract] | ' | ' | ' |
Amortized cost principally investment securities | $1,120,000,000 | ' | $1,130,000,000 |
Investment securities pledged as collateral | 137,500,000 | ' | 161,000,000 |
Available for sale securities sold | 0 | 0 | ' |
Securities held to maturity | 132,363,000 | 0 | 114,621,000 |
Other than temporary impairment of securities | 0 | ' | ' |
Unrealized losses | $976,000 | ' | $711,000 |
Percentage of Company's investment portfolio | 78.40% | ' | ' |
Maturity description of investment portfolio | 'Five years or less | ' | ' |
Investment_Securities_Amortize2
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Available-for-Sale Securities, Amortized Cost | ' | ' | ' |
Due in one year or less, Amortized Cost | $379,855 | ' | ' |
Due after one year through five years, Amortized Cost | 542,091 | ' | ' |
Due after five years through ten years, Amortized Cost | 223,603 | ' | ' |
Due after ten years, Amortized Cost | 29,438 | ' | ' |
Total, Amortized Cost | 1,174,987 | ' | ' |
Available-for-Sale Securities, Estimated Fair Value | ' | ' | ' |
Due in one year or less, Estimated Fair Value | 378,114 | ' | ' |
Due after one year through five years, Estimated Fair Value | 543,482 | ' | ' |
Due after five years through ten years, Estimated Fair Value | 224,078 | ' | ' |
Due after ten years, Estimated Fair Value | 30,153 | ' | ' |
Estimated Fair Value | 1,175,827 | 1,175,484 | ' |
Held-to-Maturity Securities, Amortized Cost | ' | ' | ' |
Due in one year or less, Held to Maturity Amortized Cost | 34,101 | ' | ' |
Due after one year through five years, Held to Maturity Amortized Cost | 69,979 | ' | ' |
Due after five years through ten years, Held to Maturity Amortized Cost | 23,409 | ' | ' |
Due after ten years, Held to Maturity Amortized Cost | 4,874 | ' | ' |
Estimated Fair Value | 132,363 | 114,621 | 0 |
Held-to-Maturity Securities, Estimated Fair Value | ' | ' | ' |
Due in one year or less, Held to Maturity Estimated Fair Value | 34,254 | ' | ' |
Due after one year through five years, Held to Maturity Estimated Fair Value | 70,449 | ' | ' |
Due after five years through ten years, Held to Maturity Estimated Fair Value | 24,003 | ' | ' |
Due after ten years, Held to Maturity Estimated Fair Value | 4,874 | ' | ' |
Total, Held to Maturity Estimated Fair Value | $133,580 | ' | ' |
Investment_Securities_Unrealiz
Investment Securities - Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $662,871,000 | $746,622,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | -8,089,000 | -15,157,000 |
Fair Value of Available-for-Sale Securities, 12 Months or More | 40,272,000 | 22,320,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | -976,000 | -711,000 |
Fair Value of Available-for-Sale Securities, Total | 703,143,000 | 768,942,000 |
Unrealized Losses of Available-for-Sale Securities, Total | -9,065,000 | -15,868,000 |
U.S. Government-sponsored enterprises [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 304,835,000 | 312,674,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | -2,839,000 | -5,205,000 |
Fair Value of Available-for-Sale Securities, 12 Months or More | 16,567,000 | 6,529,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | -220,000 | -119,000 |
Fair Value of Available-for-Sale Securities, Total | 321,402,000 | 319,203,000 |
Unrealized Losses of Available-for-Sale Securities, Total | -3,059,000 | -5,324,000 |
Mortgage-backed securities [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 265,405,000 | 267,105,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | -2,470,000 | -3,968,000 |
Fair Value of Available-for-Sale Securities, 12 Months or More | 13,732,000 | 11,749,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | -399,000 | -297,000 |
Fair Value of Available-for-Sale Securities, Total | 279,137,000 | 278,854,000 |
Unrealized Losses of Available-for-Sale Securities, Total | -2,869,000 | -4,265,000 |
State and political subdivisions [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 66,537,000 | 130,718,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | -1,880,000 | -4,831,000 |
Fair Value of Available-for-Sale Securities, 12 Months or More | 6,971,000 | 4,042,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | -343,000 | -295,000 |
Fair Value of Available-for-Sale Securities, Total | 73,508,000 | 134,760,000 |
Unrealized Losses of Available-for-Sale Securities, Total | -2,223,000 | -5,126,000 |
Other securities [Member] | ' | ' |
Schedule Of Available-For-Sale Securities [Line Items] | ' | ' |
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 26,094,000 | 36,125,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | -900,000 | -1,153,000 |
Fair Value of Available-for-Sale Securities, 12 Months or More | 3,002,000 | ' |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | -14,000 | ' |
Fair Value of Available-for-Sale Securities, Total | 29,096,000 | 36,125,000 |
Unrealized Losses of Available-for-Sale Securities, Total | ($914,000) | ($1,153,000) |
Investment_Securities_Schedule
Investment Securities - Schedule of Income Earned on Securities (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Investment Income [Line Items] | ' | ' |
Income earned on securities, taxable | $4,470 | $2,403 |
Income earned on securities, tax-exempt | 2,317 | 1,481 |
Income earned on securities, total | 6,787 | 3,884 |
Available-for-sale [Member] | ' | ' |
Investment Income [Line Items] | ' | ' |
Income earned on securities, taxable | 4,420 | 2,403 |
Income earned on securities, tax-exempt | 1,490 | 1,481 |
Held-to-maturity [Member] | ' | ' |
Investment Income [Line Items] | ' | ' |
Income earned on securities, taxable | 50 | ' |
Income earned on securities, tax-exempt | $827 | ' |
Loans_Receivable_Not_Covered_b2
Loans Receivable Not Covered by Loss Share - Summary of Various Categories of Loans not Covered by Loss Share (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | $4,126,564 | $4,194,437 |
Real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,461,219 | 3,510,517 |
Non-farm/non-residential [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,722,910 | 1,739,668 |
Construction/land development [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 566,205 | 562,667 |
Agricultural [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 74,775 | 81,618 |
Residential 1-4 family [Member] | Residential Real Estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 890,981 | 913,332 |
Multifamily residential [Member] | Residential Real Estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 206,348 | 213,232 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 60,735 | 69,570 |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 491,525 | 511,421 |
Agricultural [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | 44,017 | 37,129 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable not covered by loss share | $69,068 | $65,800 |
Loans_Receivable_Not_Covered_b3
Loans Receivable Not Covered by Loss Share - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Guaranteed portion of SBA loans sold | $0 | $536,000 | ' |
Gain on sale of guaranteed portion of SBA loans | ' | 56,000 | ' |
Mortgage loans held for sale | 27,600,000 | ' | 30,500,000 |
Nonrefundable Fees And Other Costs [Member] | Liberty Bank [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans acquired net | 1,400,000,000 | ' | 1,610,000,000 |
Loans acquired gross | 1,450,000,000 | ' | 1,670,000,000 |
Discount on loans acquired | 49,800,000 | ' | 62,100,000 |
Loans And Debt Securities [Member] | Liberty Bank [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans acquired net | 107,600,000 | ' | 120,500,000 |
Loans acquired gross | 148,900,000 | ' | 162,400,000 |
Discount on loans acquired | $41,300,000 | ' | $41,900,000 |
Loans_Receivable_Covered_by_FD2
Loans Receivable Covered by FDIC Loss Share - Carrying Value of All Purchased Covered Impaired Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | $270,641 | $282,516 |
Real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 263,119 | 275,565 |
Non-farm/non-residential [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 113,593 | 117,164 |
Construction/land development [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 45,381 | 48,388 |
Agricultural [Member] | Commercial real estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 1,184 | 1,232 |
Residential 1-4 family [Member] | Residential Real Estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 92,918 | 98,403 |
Multifamily residential [Member] | Residential Real Estate loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 10,043 | 10,378 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 16 | 20 |
Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | 6,440 | 5,852 |
Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans receivable covered by FDIC loss share | $1,066 | $1,079 |
Loans_Receivable_Covered_by_FD3
Loans Receivable Covered by FDIC Loss Share - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Accruing past due loans 90 days of more | $36.50 | $35.80 |
Allowance_for_Loan_Losses_Cred2
Allowance for Loan Losses, Credit Quality and Other - Summary of Changes in Allowance for Covered and Non-Covered Loan Losses (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | $43,815 | ' | ' |
Loans charged off | 2,424 | ' | ' |
Recoveries of loans previously charged off | 662 | ' | ' |
Net loans recovered (charged off) | -1,762 | ' | ' |
Provision for loan losses for non-covered loans | 6,938 | ' | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | ' |
Net provision for loan losses for covered loans | ' | ' | ' |
Increase in FDIC indemnification asset | ' | ' | ' |
Balance, December 31 | 48,991 | ' | ' |
For Loans Not Covered by Loss Share [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 39,022 | ' | ' |
Loans charged off | 2,424 | ' | ' |
Recoveries of loans previously charged off | 488 | ' | ' |
Net loans recovered (charged off) | -1,936 | ' | ' |
Provision for loan losses for non-covered loans | 6,938 | ' | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | ' |
Net provision for loan losses for covered loans | ' | ' | ' |
Increase in FDIC indemnification asset | ' | ' | ' |
Balance, December 31 | 44,024 | ' | ' |
For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 4,793 | 5,462 | 5,462 |
Loans charged off | ' | -1,840 | -3,474 |
Recoveries of loans previously charged off | 174 | -11 | -189 |
Net loans recovered (charged off) | 174 | -1,829 | -3,285 |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | 4,445 |
Benefit attributable to FDIC loss share agreements | ' | ' | -3,454 |
Net provision for loan losses for covered loans | ' | ' | 991 |
Increase in FDIC indemnification asset | ' | ' | 3,454 |
Balance, December 31 | $4,967 | $3,633 | $4,793 |
Allowance_for_Loan_Losses_Cred3
Allowance for Loan Losses, Credit Quality and Other - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Rating | |||
Receivables [Abstract] | ' | ' | ' |
Amount of discount accreted into income over weighted-average life of the loans on non-covered loans acquired | $164,300,000 | ' | $174,600,000 |
Non-accruing loans not covered by loss share | 20,700,000 | ' | 15,100,000 |
Interest recognized on non-covered impaired loans | 801,000 | 892,000 | ' |
Risk rating scale of loan | 'Loans are rated on a scale from 1 to 8 | ' | ' |
Amount of loan assessed for impairment on a quarterly basis | 1,000,000 | ' | ' |
Over $1,000,000 assessed minimum rated | 5 | ' | ' |
Over $1,000,000 assessed maximum rated | 8 | ' | ' |
Allowances for loan losses related to the purchased impaired loans | ' | ' | 4,400,000 |
Increase in indemnified assets | ' | ' | 3,500,000 |
Net provision for loan losses covered by loss share with FDIC | ' | ' | 991,000 |
Total accretable yield expectations for loan pools | 2,000,000 | ' | ' |
Adjustment to yield over the weighted average life of the loans | 11,400,000 | ' | ' |
Decrease in indemnification asset | 8,300,000 | ' | ' |
Increase in FDIC true-up liability | 1,100,000 | ' | ' |
Amortization of indemnification asset over weighted average life of the loans | 8,300,000 | ' | ' |
Pre-tax net income | $2,000,000 | ' | ' |
Allowance_for_Loan_Losses_Cred4
Allowance for Loan Losses, Credit Quality and Other - Balance of Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | $43,815 | ' | ' |
Loans charged off | -2,424 | ' | ' |
Recoveries of loans previously charged off | -662 | ' | ' |
Net loans recovered (charged off) | 1,762 | ' | ' |
Balance, December 31 | 48,991 | ' | ' |
Total Loans Receivable | 4,126,564 | ' | 4,194,437 |
For Loans Not Covered by Loss Share [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 39,022 | ' | ' |
Loans charged off | -2,424 | ' | ' |
Recoveries of loans previously charged off | -488 | ' | ' |
Net loans recovered (charged off) | 1,936 | ' | ' |
Balance, December 31 | 44,024 | ' | ' |
Purchased credit impaired loans acquired | 274,288 | ' | 291,445 |
Total Loans Receivable | 3,852,276 | ' | 3,902,992 |
For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 39,022 | 45,170 | 45,170 |
Loans charged off | -2,424 | -3,318 | -10,879 |
Recoveries of loans previously charged off | 488 | 450 | 3,410 |
Net loans recovered (charged off) | -1,936 | -2,868 | -7,469 |
Provision for loan losses | 6,938 | ' | 4,189 |
Loans individually evaluated for impairment | 13,247 | ' | 14,537 |
Loans collectively evaluated for impairment | 30,777 | ' | 24,485 |
Loans evaluated for impairment ending balance | 44,024 | ' | 39,022 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 44,024 | 42,302 | 39,022 |
For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 114,922 | ' | 135,017 |
Loans collectively evaluated for impairment | 3,737,354 | ' | 3,767,975 |
Loans evaluated for impairment ending balance | 3,852,276 | ' | 3,902,992 |
Purchased credit impaired loans acquired | 274,288 | ' | 291,445 |
Total Loans Receivable | 4,126,564 | ' | 4,194,437 |
Construction/land development [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans Receivable | 538,906 | ' | 532,838 |
Construction/land development [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 6,282 | 5,816 | 5,816 |
Loans charged off | -22 | -118 | -880 |
Recoveries of loans previously charged off | 25 | 15 | 19 |
Net loans recovered (charged off) | 3 | -103 | -861 |
Provision for loan losses | -160 | 484 | 946 |
Loans individually evaluated for impairment | 2,600 | ' | 3,826 |
Loans collectively evaluated for impairment | 3,525 | ' | 2,456 |
Loans evaluated for impairment ending balance | 6,125 | ' | 6,282 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 6,125 | 6,197 | 6,282 |
Construction/land development [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 27,406 | ' | 32,560 |
Loans collectively evaluated for impairment | 511,500 | ' | 500,279 |
Loans evaluated for impairment ending balance | 538,906 | ' | 532,839 |
Purchased credit impaired loans acquired | 27,299 | ' | 29,828 |
Total Loans Receivable | 566,205 | ' | 562,667 |
Other Commercial Real Estate [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 15,100 | 19,974 | 19,974 |
Loans charged off | -67 | -245 | -3,809 |
Recoveries of loans previously charged off | 22 | 17 | 2,054 |
Net loans recovered (charged off) | -45 | -228 | -1,755 |
Provision for loan losses | 1,662 | -1,235 | -1,656 |
Loans individually evaluated for impairment | 8,319 | ' | 8,359 |
Loans collectively evaluated for impairment | 8,398 | ' | 6,741 |
Loans evaluated for impairment ending balance | 16,717 | ' | 15,100 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 16,717 | 18,511 | 15,100 |
Other Commercial Real Estate [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 55,185 | ' | 76,559 |
Loans collectively evaluated for impairment | 1,595,560 | ' | 1,592,343 |
Loans evaluated for impairment ending balance | 1,650,745 | ' | 1,668,902 |
Purchased credit impaired loans acquired | 146,940 | ' | 152,384 |
Total Loans Receivable | 1,797,685 | ' | 1,821,286 |
Residential Real Estate loans [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 8,889 | 13,813 | 13,813 |
Loans charged off | -613 | -2,053 | -4,255 |
Recoveries of loans previously charged off | 57 | 180 | 802 |
Net loans recovered (charged off) | -556 | -1,873 | -3,453 |
Provision for loan losses | 1,423 | -2,111 | 2,513 |
Loans individually evaluated for impairment | 2,323 | ' | 2,347 |
Loans collectively evaluated for impairment | 7,433 | ' | 6,542 |
Loans evaluated for impairment ending balance | 9,756 | ' | 8,889 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 9,756 | 9,829 | 8,889 |
Residential Real Estate loans [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 26,089 | ' | 20,112 |
Loans collectively evaluated for impairment | 995,121 | ' | 1,027,093 |
Loans evaluated for impairment ending balance | 1,021,210 | ' | 1,047,205 |
Purchased credit impaired loans acquired | 76,119 | ' | 79,359 |
Total Loans Receivable | 1,097,329 | ' | 1,126,564 |
Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans Receivable | 491,525 | ' | 511,421 |
Commercial and Industrial [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans Receivable | 473,169 | ' | 489,599 |
Commercial and Industrial [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 1,933 | 3,870 | 3,870 |
Loans charged off | -868 | -35 | -502 |
Recoveries of loans previously charged off | 35 | 15 | 57 |
Net loans recovered (charged off) | -833 | -20 | -445 |
Provision for loan losses | 2,767 | -1,023 | -449 |
Loans individually evaluated for impairment | 5 | ' | 5 |
Loans collectively evaluated for impairment | 3,862 | ' | 1,928 |
Loans evaluated for impairment ending balance | 3,867 | ' | 1,933 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 3,867 | 2,827 | 1,933 |
Commercial and Industrial [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 5,957 | ' | 5,563 |
Loans collectively evaluated for impairment | 467,212 | ' | 484,036 |
Loans evaluated for impairment ending balance | 473,169 | ' | 489,599 |
Purchased credit impaired loans acquired | 18,356 | ' | 21,822 |
Total Loans Receivable | 491,525 | ' | 511,421 |
Consumer & Other [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 2,563 | 1,288 | 1,288 |
Loans charged off | -854 | -867 | -1,433 |
Recoveries of loans previously charged off | 349 | 223 | 478 |
Net loans recovered (charged off) | -505 | -644 | -955 |
Provision for loan losses | 1,588 | 393 | 2,481 |
Loans individually evaluated for impairment | ' | ' | ' |
Loans collectively evaluated for impairment | 3,646 | ' | 2,563 |
Loans evaluated for impairment ending balance | 3,646 | ' | 2,563 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 3,646 | 1,037 | 2,563 |
Consumer & Other [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 285 | ' | 223 |
Loans collectively evaluated for impairment | 167,961 | ' | 164,224 |
Loans evaluated for impairment ending balance | 168,246 | ' | 164,447 |
Purchased credit impaired loans acquired | 5,574 | ' | 8,052 |
Total Loans Receivable | 173,820 | ' | 172,499 |
Unallocated [Member] | For Loans Not Covered by Loss Share [Member] | Allowance for loan losses [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 4,255 | 409 | 409 |
Loans charged off | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' |
Net loans recovered (charged off) | ' | ' | ' |
Provision for loan losses | -342 | 3,492 | 354 |
Loans individually evaluated for impairment | ' | ' | ' |
Loans collectively evaluated for impairment | 3,913 | ' | 4,255 |
Loans evaluated for impairment ending balance | 3,913 | ' | 4,255 |
Purchased credit impaired loans acquired | ' | ' | ' |
Balance, December 31 | 3,913 | 3,901 | 4,255 |
Unallocated [Member] | For Loans Not Covered by Loss Share [Member] | Loans receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' |
Loans evaluated for impairment ending balance | ' | ' | ' |
Purchased credit impaired loans acquired | ' | ' | ' |
Total Loans Receivable | ' | ' | ' |
Allowance_for_Loan_Losses_Cred5
Allowance for Loan Losses, Credit Quality and Other - Summary of Aging Analysis for Non-Covered Loan Portfolio (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | $4,126,564 | $4,194,437 |
For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 9,932 | 21,889 |
Loans Past Due 60-89 Days | 6,394 | 8,563 |
Loans Past Due 90 Days or More | 42,678 | 38,274 |
Total Past Due | 59,004 | 68,726 |
Current Loans | 4,067,560 | 4,125,711 |
Total Loans Receivable | 3,852,276 | 3,902,992 |
Accruing Loans Past Due 90 Days or More | 21,981 | 23,141 |
For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 1,576,920 | 1,589,460 |
For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 538,906 | 532,838 |
For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 73,825 | 79,442 |
For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 822,018 | 841,206 |
For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 199,192 | 205,999 |
For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 356 | 717 |
Loans Past Due 60-89 Days | 102 | 226 |
Loans Past Due 90 Days or More | 285 | 224 |
Total Past Due | 743 | 1,167 |
Current Loans | 59,992 | 68,403 |
Total Loans Receivable | 60,735 | 69,570 |
Accruing Loans Past Due 90 Days or More | 89 | 100 |
For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 884 | 4,363 |
Loans Past Due 60-89 Days | 445 | 405 |
Loans Past Due 90 Days or More | 5,531 | 5,218 |
Total Past Due | 6,860 | 9,986 |
Current Loans | 484,665 | 501,435 |
Total Loans Receivable | 491,525 | 511,421 |
Accruing Loans Past Due 90 Days or More | 3,022 | 3,755 |
For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 461 | 778 |
Loans Past Due 60-89 Days | 25 | 110 |
Loans Past Due 90 Days or More | ' | ' |
Total Past Due | 486 | 888 |
Current Loans | 112,599 | 102,041 |
Total Loans Receivable | 113,085 | 102,929 |
Accruing Loans Past Due 90 Days or More | ' | ' |
Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans Receivable | 3,461,219 | 3,510,517 |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 8,231 | 16,031 |
Loans Past Due 60-89 Days | 5,822 | 7,822 |
Loans Past Due 90 Days or More | 36,862 | 32,832 |
Total Past Due | 50,915 | 56,685 |
Current Loans | 3,410,304 | 3,453,832 |
Total Loans Receivable | 3,461,219 | 3,510,517 |
Accruing Loans Past Due 90 Days or More | 18,870 | 19,286 |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 2,861 | 4,849 |
Loans Past Due 60-89 Days | 3,066 | 2,275 |
Loans Past Due 90 Days or More | 13,114 | 13,007 |
Total Past Due | 19,041 | 20,131 |
Current Loans | 1,703,869 | 1,719,537 |
Total Loans Receivable | 1,722,910 | 1,739,668 |
Accruing Loans Past Due 90 Days or More | 7,494 | 7,914 |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 236 | 2,206 |
Loans Past Due 60-89 Days | 361 | 352 |
Loans Past Due 90 Days or More | 6,214 | 5,959 |
Total Past Due | 6,811 | 8,517 |
Current Loans | 559,394 | 554,150 |
Total Loans Receivable | 566,205 | 562,667 |
Accruing Loans Past Due 90 Days or More | 4,505 | 4,879 |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 22 | 1,040 |
Loans Past Due 60-89 Days | ' | 1,082 |
Loans Past Due 90 Days or More | 79 | 89 |
Total Past Due | 101 | 2,211 |
Current Loans | 74,674 | 79,407 |
Total Loans Receivable | 74,775 | 81,618 |
Accruing Loans Past Due 90 Days or More | ' | ' |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 4,898 | 7,936 |
Loans Past Due 60-89 Days | 2,395 | 2,676 |
Loans Past Due 90 Days or More | 14,550 | 13,775 |
Total Past Due | 21,843 | 24,387 |
Current Loans | 869,138 | 888,945 |
Total Loans Receivable | 890,981 | 913,332 |
Accruing Loans Past Due 90 Days or More | 6,195 | 6,492 |
Real estate [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans Past Due 30-59 Days | 214 | ' |
Loans Past Due 60-89 Days | ' | 1,437 |
Loans Past Due 90 Days or More | 2,905 | 2 |
Total Past Due | 3,119 | 1,439 |
Current Loans | 203,229 | 211,793 |
Total Loans Receivable | 206,348 | 213,232 |
Accruing Loans Past Due 90 Days or More | $676 | $1 |
Allowance_for_Loan_Losses_Cred6
Allowance for Loan Losses, Credit Quality and Other - Summary of Non-Covered Impaired Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans Without Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Loans With Specific Valuation Allowance [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | Total Impaired Loans [Member] | |||
Non-farm/non-residential [Member] | Non-farm/non-residential [Member] | Construction/land development [Member] | Construction/land development [Member] | Agricultural [Member] | Agricultural [Member] | Residential 1-4 family [Member] | Residential 1-4 family [Member] | Multifamily residential [Member] | Multifamily residential [Member] | Real estate [Member] | Real estate [Member] | Consumer [Member] | Consumer [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Agricultural and other [Member] | Agricultural and other [Member] | Non-farm/non-residential [Member] | Non-farm/non-residential [Member] | Construction/land development [Member] | Construction/land development [Member] | Agricultural [Member] | Agricultural [Member] | Residential 1-4 family [Member] | Residential 1-4 family [Member] | Multifamily residential [Member] | Multifamily residential [Member] | Real estate [Member] | Real estate [Member] | Consumer [Member] | Consumer [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Agricultural and other [Member] | Agricultural and other [Member] | Non-farm/non-residential [Member] | Non-farm/non-residential [Member] | Construction/land development [Member] | Construction/land development [Member] | Agricultural [Member] | Agricultural [Member] | Residential 1-4 family [Member] | Residential 1-4 family [Member] | Multifamily residential [Member] | Multifamily residential [Member] | Real estate [Member] | Real estate [Member] | Consumer [Member] | Consumer [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Agricultural and other [Member] | Agricultural and other [Member] | |||||||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance | ' | ' | $2,040,000 | $1,455,000 | $1,932,000 | $1,449,000 | ' | ' | ' | ' | $108,000 | $6,000 | ' | ' | $2,040,000 | $1,455,000 | ' | ' | ' | ' | ' | ' | $100,346,000 | $114,581,000 | $47,628,000 | $56,465,000 | $19,501,000 | $29,461,000 | $79,000 | $89,000 | $20,011,000 | $19,188,000 | $5,441,000 | $2,065,000 | $92,660,000 | $107,268,000 | $336,000 | $254,000 | $7,350,000 | $7,059,000 | ' | ' | $102,386,000 | $116,036,000 | $49,560,000 | $57,914,000 | $19,501,000 | $29,461,000 | $79,000 | $89,000 | $20,119,000 | $19,194,000 | $5,441,000 | $2,065,000 | $94,700,000 | $108,723,000 | $336,000 | $254,000 | $7,350,000 | $7,059,000 | ' | ' |
Total Recorded Investment | ' | ' | 2,040,000 | 6,000 | 1,932,000 | ' | ' | ' | ' | ' | 108,000 | 6,000 | ' | ' | 2,040,000 | 6,000 | ' | ' | ' | ' | ' | ' | 90,172,000 | 106,477,000 | 44,448,000 | 54,707,000 | 16,889,000 | 27,231,000 | 79,000 | 89,000 | 17,260,000 | 16,599,000 | 5,254,000 | 2,065,000 | 83,930,000 | 100,691,000 | 285,000 | 223,000 | 5,957,000 | 5,563,000 | ' | ' | 92,212,000 | 106,483,000 | 46,380,000 | 54,707,000 | 16,889,000 | 27,231,000 | 79,000 | 89,000 | 17,368,000 | 16,605,000 | 5,254,000 | 2,065,000 | 85,970,000 | 100,697,000 | 285,000 | 223,000 | 5,957,000 | 5,563,000 | ' | ' |
Allocation of Allowance for Loan Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,247,000 | 14,537,000 | 8,319,000 | 8,359,000 | 2,600,000 | 3,826,000 | ' | ' | 1,255,000 | 1,265,000 | 1,068,000 | 1,082,000 | 13,242,000 | 14,532,000 | ' | ' | 5,000 | 5,000 | ' | ' | 13,247,000 | 14,537,000 | 8,319,000 | 8,359,000 | 2,600,000 | 3,826,000 | ' | ' | 1,255,000 | 1,265,000 | 1,068,000 | 1,082,000 | 13,242,000 | 14,532,000 | ' | ' | 5,000 | 5,000 | ' | ' |
Average Recorded Investment | ' | ' | 1,748,000 | 5,746,000 | 1,691,000 | 3,958,000 | ' | 106,000 | ' | ' | 57,000 | 1,016,000 | ' | 534,000 | 1,748,000 | 5,614,000 | ' | ' | ' | 132,000 | ' | ' | 97,599,000 | 98,384,000 | 48,853,000 | 55,361,000 | 22,060,000 | 23,121,000 | 84,000 | 83,000 | 16,929,000 | 13,248,000 | 3,659,000 | 3,683,000 | 91,585,000 | 95,496,000 | 254,000 | 385,000 | 5,760,000 | 2,503,000 | ' | ' | 99,347,000 | 104,130,000 | 50,544,000 | 59,319,000 | 22,060,000 | 23,227,000 | 84,000 | 83,000 | 16,986,000 | 14,264,000 | 3,659,000 | 4,217,000 | 93,333,000 | 101,110,000 | 254,000 | 385,000 | 5,760,000 | 2,635,000 | ' | ' |
Interest Recognized | $801,000 | $892,000 | $16,000 | $226,000 | $14,000 | $177,000 | ' | $8,000 | ' | ' | $2,000 | $34,000 | ' | $1,000 | $16,000 | $220,000 | ' | ' | ' | $6,000 | ' | ' | $785,000 | $3,628,000 | $434,000 | $2,205,000 | $154,000 | $878,000 | ' | ' | $124,000 | $373,000 | $28,000 | $100,000 | $740,000 | $3,556,000 | $2,000 | $5,000 | $43,000 | $67,000 | ' | ' | $801,000 | $3,854,000 | $448,000 | $2,382,000 | $154,000 | $886,000 | ' | ' | $126,000 | $407,000 | $28,000 | $101,000 | $756,000 | $3,776,000 | $2,000 | $5,000 | $43,000 | $73,000 | ' | ' |
Allowance_for_Loan_Losses_Cred7
Allowance for Loan Losses, Credit Quality and Other - Presentation of Classified and Non-Covered Loans by Class and Risk Rating (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | $4,126,564 | $4,194,437 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 491,525 | 511,421 |
For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,852,276 | 3,902,992 |
Purchased credit impaired loans acquired | 274,288 | 291,445 |
Total non-covered loans | 4,126,564 | 4,194,437 |
For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,576,920 | 1,589,460 |
For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 538,906 | 532,838 |
For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 73,825 | 79,442 |
For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 822,018 | 841,206 |
For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 199,192 | 205,999 |
For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,210,861 | 3,248,945 |
For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 58,676 | 66,791 |
For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 473,169 | 489,599 |
For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 109,570 | 97,657 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 29,111 | 42,555 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 134 | 3 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 16 | 54 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | 55 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 383 | 393 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 533 | 505 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 14,137 | 15,566 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 13,850 | 25,809 |
Risk Rated 1 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 591 | 675 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 13,843 | 16,390 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 2,207 | 3,135 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 117 | 94 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 70 | 146 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 2,394 | 3,375 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 28 | 32 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 5,853 | 5,845 |
Risk Rated 2 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 5,568 | 7,138 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 2,470,412 | 2,513,164 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,025,315 | 1,039,110 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 193,762 | 198,228 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 48,751 | 53,633 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 636,637 | 654,739 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 147,010 | 150,023 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 2,051,475 | 2,095,733 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 35,663 | 42,647 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 298,979 | 300,108 |
Risk Rated 3 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 84,295 | 74,676 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,192,127 | 1,173,117 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 476,412 | 462,957 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 316,218 | 303,590 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 24,092 | 24,901 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 154,358 | 155,744 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 46,903 | 52,233 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,017,983 | 999,425 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 7,593 | 7,244 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 147,684 | 151,986 |
Risk Rated 4 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 18,867 | 14,462 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 56,388 | 64,547 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 23,403 | 28,380 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 10,597 | 11,732 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 902 | 764 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 16,172 | 17,241 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 1,185 | 1,679 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 52,259 | 59,796 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 809 | 848 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,103 | 3,229 |
Risk Rated 5 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 217 | 674 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 90,395 | 93,219 |
Purchased credit impaired loans acquired | ' | ' |
Total non-covered loans | ' | ' |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 49,449 | 55,875 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 18,196 | 19,140 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 80 | 89 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 14,398 | 12,943 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 4,094 | 2,064 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 86,217 | 90,111 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 446 | 454 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,700 | 2,622 |
Classified Total [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 32 | 32 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 90,144 | 93,020 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 49,425 | 55,874 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 18,170 | 19,140 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 80 | 89 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 14,200 | 12,747 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 4,094 | 2,064 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 85,969 | 89,914 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 446 | 454 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3,697 | 2,620 |
Risk Rated 6 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 32 | 32 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 251 | 199 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 24 | 1 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 26 | ' |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 198 | 196 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 248 | 197 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | 3 | 2 |
Risk Rated 7 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Construction/land development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Multifamily residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Real estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Risk Rated 8 [Member] | For Loans Not Covered by Loss Share [Member] | Agricultural and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable not covered by loss share | ' | ' |
Allowance_for_Loan_Losses_Cred8
Allowance for Loan Losses, Credit Quality and Other - Presentation of Non-Covered TDR's by Class (Detail) (For Loans Not Covered by Loss Share [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Contracts | Contracts |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 25 | 27 |
Pre-Modification Outstanding Balance | $39,525 | $49,691 |
Rate Modification | 16,743 | 21,492 |
Term Modification | 10,897 | 10,905 |
Rate & Term Modification | 6,530 | 11,069 |
Post-Modification Outstanding Balance | 34,170 | 43,466 |
Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 11 | 14 |
Pre-Modification Outstanding Balance | 25,993 | 36,454 |
Rate Modification | 8,488 | 13,029 |
Term Modification | 8,383 | 8,384 |
Rate & Term Modification | 5,729 | 10,554 |
Post-Modification Outstanding Balance | 22,600 | 31,967 |
Construction/land development [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | 3 |
Pre-Modification Outstanding Balance | 8,324 | 8,324 |
Rate Modification | 5,772 | 5,811 |
Term Modification | 1,794 | 1,794 |
Rate & Term Modification | ' | ' |
Post-Modification Outstanding Balance | 7,566 | 7,605 |
Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 8 | 8 |
Pre-Modification Outstanding Balance | 1,646 | 1,646 |
Rate Modification | 429 | 589 |
Term Modification | 720 | 727 |
Rate & Term Modification | 168 | 170 |
Post-Modification Outstanding Balance | 1,317 | 1,486 |
Multifamily residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 2 | 1 |
Pre-Modification Outstanding Balance | 3,182 | 2,887 |
Rate Modification | 2,054 | 2,063 |
Term Modification | ' | ' |
Rate & Term Modification | 295 | ' |
Post-Modification Outstanding Balance | 2,349 | 2,063 |
Real estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 24 | 26 |
Pre-Modification Outstanding Balance | 39,145 | 49,311 |
Rate Modification | 16,743 | 21,492 |
Term Modification | 10,897 | 10,905 |
Rate & Term Modification | 6,192 | 10,724 |
Post-Modification Outstanding Balance | 33,832 | 43,121 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Pre-Modification Outstanding Balance | 380 | 380 |
Rate Modification | ' | ' |
Term Modification | ' | ' |
Rate & Term Modification | 338 | 345 |
Post-Modification Outstanding Balance | $338 | $345 |
Allowance_for_Loan_Losses_Cred9
Allowance for Loan Losses, Credit Quality and Other - Presentation of Non-Covered TDR's on Non-Accrual Status (Detail) (For Loans Not Covered by Loss Share [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Contract | Contract |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 6 | 4 |
Recorded Balance | $1,243 | $854 |
Non-farm/non-residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 2 | ' |
Recorded Balance | 555 | ' |
Residential 1-4 family [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 4 | 4 |
Recorded Balance | 688 | 854 |
Real estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 6 | 4 |
Recorded Balance | $1,243 | $854 |
Recovered_Sheet1
Allowance for Loan Losses, Credit Quality and Other - Allowance for Loan Losses and Recorded Investment in Loans Covered by FDIC Loss Share Based on Portfolio Segment by Impairment Method (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | $43,815 | ' | ' | ' |
Loans charged off | 2,424 | ' | ' | ' |
Recoveries of loans previously charged off | -662 | ' | ' | ' |
Net loans recovered (charged off) | -1,762 | ' | ' | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Net provision for loan losses | ' | ' | ' | ' |
Increase in FDIC indemnification asset | ' | ' | ' | ' |
Balance, December 31 | 48,991 | ' | ' | ' |
Balance, December 31 | 270,641 | ' | 282,516 | ' |
For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | 4,793 | 5,462 | 5,462 | ' |
Loans charged off | ' | -1,840 | -3,474 | ' |
Recoveries of loans previously charged off | 174 | ' | ' | ' |
Recoveries of loans previously charged off | -174 | 11 | 189 | ' |
Net loans recovered (charged off) | 174 | -1,829 | -3,285 | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | 4,445 | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | -3,454 | ' |
Net provision for loan losses | ' | ' | 991 | ' |
Increase in FDIC indemnification asset | ' | ' | 3,454 | ' |
Balance, December 31 | 4,967 | 3,633 | 4,793 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 4,967 | ' | 4,793 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 270,641 | ' | ' | 282,516 |
Balance, December 31 | 270,641 | ' | ' | 282,516 |
Construction/land development [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | 1,707 | 1,169 | 1,169 | ' |
Loans charged off | ' | -878 | -27 | ' |
Recoveries of loans previously charged off | 6 | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | 15 | ' |
Net loans recovered (charged off) | 6 | -878 | -12 | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | 10 | -28 | 1,456 | ' |
Benefit attributable to FDIC loss share agreements | -10 | 22 | -1,140 | ' |
Net provision for loan losses | ' | -6 | 316 | ' |
Increase in FDIC indemnification asset | 10 | -22 | 1,140 | ' |
Balance, December 31 | 1,723 | 263 | 1,707 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 1,723 | ' | 1,707 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 45,381 | ' | ' | 48,388 |
Balance, December 31 | 45,381 | ' | ' | 48,388 |
Other Commercial Real Estate [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | 838 | 4,005 | 4,005 | ' |
Loans charged off | ' | -409 | -3,017 | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | 5 | 8 | ' |
Net loans recovered (charged off) | ' | -404 | -3,009 | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | 1,345 | -562 | 808 | ' |
Benefit attributable to FDIC loss share agreements | -1,345 | 450 | -406 | ' |
Net provision for loan losses | ' | -112 | 402 | ' |
Increase in FDIC indemnification asset | 1,345 | -450 | 406 | ' |
Balance, December 31 | 2,183 | 3,039 | 838 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 2,183 | ' | 838 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 114,777 | ' | ' | 118,396 |
Balance, December 31 | 114,777 | ' | ' | 118,396 |
Residential Real Estate loans [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | 2,113 | 228 | 228 | ' |
Loans charged off | ' | -553 | -273 | ' |
Recoveries of loans previously charged off | 168 | ' | ' | ' |
Recoveries of loans previously charged off | ' | 6 | 166 | ' |
Net loans recovered (charged off) | 168 | -547 | -107 | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | -1,364 | 597 | 1,942 | ' |
Benefit attributable to FDIC loss share agreements | 1,364 | -478 | -1,687 | ' |
Net provision for loan losses | ' | 119 | 255 | ' |
Increase in FDIC indemnification asset | -1,364 | 478 | 1,687 | ' |
Balance, December 31 | 917 | 278 | 2,113 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 917 | ' | 2,113 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 102,960 | ' | ' | 108,781 |
Balance, December 31 | 102,960 | ' | ' | 108,781 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Balance, December 31 | 6,440 | ' | 5,852 | ' |
Commercial and Industrial [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | 135 | 60 | 60 | ' |
Loans charged off | ' | ' | -157 | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Net loans recovered (charged off) | ' | ' | -157 | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | 9 | -7 | 239 | ' |
Benefit attributable to FDIC loss share agreements | -9 | 6 | -221 | ' |
Net provision for loan losses | ' | -1 | 18 | ' |
Increase in FDIC indemnification asset | 9 | -6 | 221 | ' |
Balance, December 31 | 144 | 53 | 135 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 144 | ' | 135 | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 6,440 | ' | ' | 5,852 |
Balance, December 31 | 6,440 | ' | ' | 5,852 |
Consumer & Other [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' |
Loans charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Net loans recovered (charged off) | ' | ' | ' | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Net provision for loan losses | ' | ' | ' | ' |
Increase in FDIC indemnification asset | ' | ' | ' | ' |
Balance, December 31 | ' | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | ' | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | 1,083 | ' | ' | 1,099 |
Balance, December 31 | 1,083 | ' | ' | 1,099 |
Unallocated [Member] | For Loans Covered by FDIC Loss Share [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' |
Loans charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Recoveries of loans previously charged off | ' | ' | ' | ' |
Net loans recovered (charged off) | ' | ' | ' | ' |
Provision for loan losses before benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Benefit attributable to FDIC loss share agreements | ' | ' | ' | ' |
Net provision for loan losses | ' | ' | ' | ' |
Increase in FDIC indemnification asset | ' | ' | ' | ' |
Balance, December 31 | ' | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Loans evaluated for impairment balance, December 31 | ' | ' | ' | ' |
Purchased credit impaired loans acquired | ' | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' | ' |
Loans collectively evaluated for impairment | ' | ' | ' | ' |
Purchased credit impaired loans acquired | ' | ' | ' | ' |
Balance, December 31 | ' | ' | ' | ' |
Recovered_Sheet2
Allowance for Loan Losses, Credit Quality and Other - Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans Acquired (Detail) (Covered And Noncovered Loan [Member], Impaired Loans At Acquisition [Member], Purchase Credit Impaired Loans [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Covered And Noncovered Loan [Member] | Impaired Loans At Acquisition [Member] | Purchase Credit Impaired Loans [Member] | ' |
Acquired Loan Portfolio And Accretable Yield [Line Items] | ' |
Balance at beginning of period, Accretable Yield | $119,981 |
Reforecasted future interest payments for loan pools, Accretable Yield | 1,936 |
Accretion, Accretable Yield | -15,810 |
Adjustment to yield, Accretable Yield | 11,432 |
Transfers to foreclosed assets held for sale | ' |
Payments received, net, Accretable Yield | ' |
Balance at end of period, Accretable Yield | 117,539 |
Balance at beginning of period, Carrying Amount of Loans | 573,961 |
Reforecasted future interest payments for loan pools, Carrying Amount of Loans | ' |
Accretion, Carrying Amount of Loans | 15,810 |
Adjustment to yield, Carrying Amount of Loans | ' |
Transfers to foreclosed assets held for sale | -5,158 |
Payments received, net, Carrying Amount of Loans | -39,684 |
Balance at end of period, Carrying Amount of Loans | $544,929 |
Goodwill_and_Core_Deposits_and2
Goodwill and Core Deposits and Other Intangibles - Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Goodwill | ' | ' | ' |
Balance, beginning of period | $301,736 | $85,681 | $85,681 |
Balance, end of period | 301,736 | ' | 301,736 |
Core Deposit and Other Intangibles | ' | ' | ' |
Balance, beginning of period | 22,298 | 12,061 | 12,061 |
Acquisitions | ' | ' | 13,861 |
Amortization expense | -1,167 | -802 | -2,822 |
Balance, ending of period | 21,131 | 11,259 | 22,298 |
Liberty Bank [Member] | ' | ' | ' |
Goodwill | ' | ' | ' |
Acquisition | ' | ' | $216,055 |
Goodwill_and_Core_Deposits_and3
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Gross carrying basis | $43,524 | $43,524 | ' | ' |
Accumulated amortization | -22,393 | -21,226 | ' | ' |
Net carrying amount | $21,131 | $22,298 | $11,259 | $12,061 |
Goodwill_and_Core_Deposits_and4
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Core deposit and other intangible amortization | $1,167,000 | $802,000 | $2,822,000 | ' |
Amortization expense for year 2014 | 4,400,000 | ' | ' | ' |
Amortization expense for year 2015 | 3,600,000 | ' | ' | ' |
Amortization expense for year 2016 | 2,300,000 | ' | ' | ' |
Amortization expense for year 2017 | 2,200,000 | ' | ' | ' |
Amortization expense for year 2018 | 2,100,000 | ' | ' | ' |
Carrying amount of Company's goodwill | $301,736,000 | ' | $301,736,000 | $85,681,000 |
Other_Assets_Additional_Inform
Other Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule Of Other Assets [Line Items] | ' | ' |
FDIC claims receivable | $20.40 | $19.10 |
Fair value of equity securities | 49.8 | 52.6 |
FDIC [Member] | ' | ' |
Schedule Of Other Assets [Line Items] | ' | ' |
Other assets | $82.10 | $81.20 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Deposits [Line Items] | ' | ' | ' |
Time deposits with a minimum denomination of $100,000 | $778,200,000 | ' | $877,400,000 |
Interest expense applicable to certificate | 1,200,000 | 1,100,000 | ' |
Brokered deposits | 92,800,000 | ' | 100,400,000 |
Total deposits | 5,338,510,000 | ' | 5,393,046,000 |
State and political subdivisions [Member] | ' | ' | ' |
Deposits [Line Items] | ' | ' | ' |
Total deposits | $1,010,000,000 | ' | $1,020,000,000 |
Securities_Sold_Under_Agreemen1
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Securities Sold Under Agreements To Repurchase [Abstract] | ' | ' | ' |
Securities sold under agreements to repurchase | $137,524,000 | ' | $160,984,000 |
Securities sold under agreements to repurchase daily weighted average | $149,400,000 | $69,700,000 | ' |
FHLB_Borrowed_Funds_Additional
FHLB Borrowed Funds - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Federal Home Loan Bank Borrowing [Abstract] | ' | ' |
FHLB borrowed funds | $354.90 | $350.70 |
Maturity of FHLB advances | '2025 | ' |
Short-term advances | 100.1 | 130.3 |
Long-term advances | 254.8 | 220.4 |
FHLB minimum percentage of interest rate | 0.15% | ' |
FHLB maximum percentage of interest rate | 5.96% | ' |
Line of credit | $171 | $191 |
Subordinated_Debentures_Prefer
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated debentures, issued | $60,826 | $60,826 | $60,826 |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated debentures, issued | 3,093 | ' | 3,093 |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated debentures, issued | 15,464 | ' | 15,464 |
Due 2035, fixed rate of 5.836% during the first five years and at a floating rate of 1.45% [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated debentures, issued | 25,774 | ' | 25,774 |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | ' | ' | ' |
Schedule Of Borrowings [Line Items] | ' | ' | ' |
Subordinated debentures, issued | $16,495 | ' | $16,495 |
Subordinated_Debentures_Prefer1
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Parenthetical) (Detail) | 3 Months Ended |
Mar. 31, 2014 | |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Subordinated debentures, issued date | '2006 |
Subordinated debentures, due date | '2036 |
Fixed rate for first five years | 6.75% |
Floating rate above three-month LIBOR rate | 1.85% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Subordinated debentures, issued date | '2004 |
Subordinated debentures, due date | '2034 |
Fixed rate for first five years | 6.00% |
Floating rate above three-month LIBOR rate | 2.00% |
Due 2035, fixed rate of 5.836% during the first five years and at a floating rate of 1.45% [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Subordinated debentures, issued date | '2005 |
Subordinated debentures, due date | '2035 |
Fixed rate for first five years | 5.84% |
Floating rate above three-month LIBOR rate | 1.45% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | ' |
Schedule Of Borrowings [Line Items] | ' |
Subordinated debentures, issued date | '2004 |
Subordinated debentures, due date | '2034 |
Fixed rate for first five years | 4.29% |
Floating rate above three-month LIBOR rate | 2.50% |
Subordinated_Debentures_Additi
Subordinated Debentures - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Equity Method Investments And Cost Method Investments [Abstract] | ' |
Company currently holds of trust preferred securities | $60.80 |
Income_Taxes_Summary_of_Compon
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Current: | ' | ' |
Federal | $10,032 | $2,494 |
State | 1,993 | 501 |
Total current | 12,025 | 2,995 |
Deferred: | ' | ' |
Federal | 2,940 | 5,814 |
State | 584 | 1,154 |
Total deferred | 3,524 | 6,968 |
Provision for income taxes | $15,549 | $9,963 |
Income_Taxes_Reconciliation_be
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Reconciliation Of Effective Income Tax Rate And Statutory Federal Corporate Tax Rate [Abstract] | ' | ' |
Statutory federal income tax rate | 35.00% | 35.00% |
Effect of nontaxable interest income | -2.01% | -2.12% |
Cash value of life insurance | -0.24% | -0.20% |
State income taxes, net of federal benefit | 3.91% | 3.91% |
Other | -0.40% | -0.38% |
Effective income tax rate | 36.26% | 36.21% |
Income_Taxes_Differences_Betwe
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for loan losses | $19,243 | $17,213 |
Deferred compensation | 1,736 | 3,230 |
Stock options | 299 | 277 |
Real estate owned | 9,255 | 11,145 |
Loan discounts | 54,881 | 65,639 |
Tax basis premium/discount on acquisitions | 19,981 | 20,671 |
Unrealized loss on securities available-for-sale | ' | 2,673 |
Investments | 2,590 | 2,568 |
Other | 7,813 | 6,992 |
Gross deferred tax assets | 115,798 | 130,408 |
Deferred tax liabilities: | ' | ' |
Accelerated depreciation on premises and equipment | 2,306 | 3,616 |
Unrealized gain on securities available-for-sale | 329 | ' |
Core deposit intangibles | 5,244 | 5,650 |
Indemnification asset | 22,268 | 29,074 |
FHLB dividends | 1,602 | 1,602 |
Other | 1,163 | 1,054 |
Gross deferred tax liabilities | 32,912 | 40,996 |
Net deferred tax assets | $82,886 | $89,412 |
Common_Stock_and_Compensation_2
Common Stock and Compensation Plans - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Jun. 04, 2013 | Apr. 18, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 12, 2013 | Jan. 18, 2013 | Mar. 31, 2014 | Jan. 18, 2013 | Jan. 18, 2013 | Jan. 02, 2014 | Jan. 02, 2014 | Jun. 04, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Restricted shares [Member] | Restricted shares [Member] | Restricted shares [Member] | Restricted shares [Member] | Restricted shares [Member] | Restricted shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | ||||||
Board Of Directors [Member] | President [Member] | Chairman [Member] | Regional President [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 50,000,000 | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in number of authorized shares | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total shares of common stock before stock split | ' | ' | ' | ' | 28,121,596 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total shares of common stock after stock split | ' | ' | ' | ' | 56,243,192 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock split conversion ratio | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of stock dividend from stock split | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of stock split arrangement | ' | 'Board of Directors declared a 2-for-1 stock split to be paid in the form of a 100% stock dividend on June 12, 2013 | 'All per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum restricted shares issued | ' | ' | ' | ' | ' | ' | 4,644,000 | ' | ' | ' | ' | ' | ' | ' |
Remaining shares of common stock available for grants or issuance | ' | ' | 1,552,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares reserved for issuance of common stock | ' | ' | 2,507,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of stock options outstanding | ' | ' | $23,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of stock options vested | ' | ' | 20,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of stock options exercised | ' | ' | 314,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost net of income tax benefit, related to non-vested awards | ' | ' | 828,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation expenses related to non-vested awards | ' | ' | $55,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average fair value of options granted | ' | ' | $0 | $4.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of restricted stock beginning on first anniversary of issuance | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' |
Shares issuance of restricted common stock | ' | ' | ' | ' | ' | 22,000 | ' | 18,000 | 4,000 | 40,000 | 3,000 | ' | ' | ' |
Share-based compensation arrangement by share based payment award grants | 12,666 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation arrangement by share based payment award vested | 9,666 | ' | 22,000 | 32,000 | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' | ' |
Condition for earning performance shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The performance goal is met when the Company averaged $0.3125 diluted earnings per share (split adjusted) | 'The performance goal is met when the Company averaged $0.3125 diluted earnings per share (split adjusted) for the past four consecutive quarters |
Number of shares authorized to be repurchased | ' | ' | 2,376,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of combining of all the shares | ' | ' | 1,510,896 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining balance available for repurchase | ' | ' | 865,104 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common_Stock_and_Compensation_3
Common Stock and Compensation Plans - Summary of Transactions under Company's Stock Option Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' | |||
Outstanding Shares, beginning of year | 966,000 | 871,000 | ' | 871,000 | |||
Granted Shares | ' | ' | ' | 184,000 | |||
Forfeited Shares | ' | ' | ' | -3,000 | |||
Exercised Shares | 11,139 | [1] | 7,206 | [1] | 7,206 | [1] | -86,000 |
Outstanding Shares, end of period | 955,000 | ' | 966,000 | 966,000 | |||
Exercisable Shares, end of period | 731,000 | ' | 710,000 | 710,000 | |||
Outstanding Weighted Average Exercisable Price, beginning of year | $9.57 | $6.66 | ' | $6.66 | |||
Weighted Average Exercisable Price, Granted | ' | ' | ' | $21.24 | |||
Weighted Average Exercisable Price, Forfeited | ' | ' | ' | $8.60 | |||
Weighted Average Exercisable Price, Exercised | $4.41 | ' | ' | $5.01 | |||
Outstanding Weighted Average Exercisable Price, end of period | $9.63 | ' | $9.57 | $9.57 | |||
Exercisable Weighted Average Exercisable Price, end of period | $6.61 | ' | $6.20 | $6.20 | |||
[1] | All share and per share amounts have been restated to reflect the effect of the 2-for-1 stock split during June 2013. |
Common_Stock_and_Compensation_4
Common Stock and Compensation Plans - Summary of Stock Options on Valuation Assumptions (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Disclosure Stock Option Valuation Assumptions [Abstract] | ' | ' |
Expected dividend yield | ' | 1.42% |
Expected stock price volatility | ' | 22.09% |
Risk-free interest rate | ' | 1.33% |
Expected life of options | ' | '6 years 6 months |
Common_Stock_and_Compensation_5
Common Stock and Compensation Plans - Summary of Currently Outstanding and Exercisable Options (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Schedule Of Common Stock [Line Items] | ' |
Options Outstanding Shares | 955,000 |
Options Exercisable Shares | 731,000 |
Exercise Prices Range $3.08 to $3.50 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $3.08 |
Exercise Prices, Upper Range Limit | $3.50 |
Options Outstanding Shares | 13,000 |
Options Exercisable Shares | 13,000 |
Weighted-Average Remaining Contractual Life (in years) | '1 year 29 days |
Options outstanding Weighted- Average Exercise Price | $3.33 |
Options Exercisable Weighted- Average Exercise Price | $3.33 |
Exercise Prices Range $3.92 to $4.34 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $3.92 |
Exercise Prices, Upper Range Limit | $4.34 |
Options Outstanding Shares | 45,000 |
Options Exercisable Shares | 45,000 |
Weighted-Average Remaining Contractual Life (in years) | '1 year 4 months 2 days |
Options outstanding Weighted- Average Exercise Price | $4.25 |
Options Exercisable Weighted- Average Exercise Price | $4.25 |
Exercise Prices Range $4.78 to $4.92 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $4.78 |
Exercise Prices, Upper Range Limit | $4.92 |
Options Outstanding Shares | 81,000 |
Options Exercisable Shares | 81,000 |
Weighted-Average Remaining Contractual Life (in years) | '1 year 3 months 26 days |
Options outstanding Weighted- Average Exercise Price | $4.82 |
Options Exercisable Weighted- Average Exercise Price | $4.82 |
Exercise Prices Range $5.33 to $5.33 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $5.33 |
Exercise Prices, Upper Range Limit | $5.33 |
Options Outstanding Shares | 199,000 |
Options Exercisable Shares | 199,000 |
Weighted-Average Remaining Contractual Life (in years) | '1 year 7 months 6 days |
Options outstanding Weighted- Average Exercise Price | $5.33 |
Options Exercisable Weighted- Average Exercise Price | $5.33 |
Exercise Prices Range $5.54 to $5.54 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $5.54 |
Exercise Prices, Upper Range Limit | $5.54 |
Options Outstanding Shares | 199,000 |
Options Exercisable Shares | 199,000 |
Weighted-Average Remaining Contractual Life (in years) | '1 year 11 months 12 days |
Options outstanding Weighted- Average Exercise Price | $5.54 |
Options Exercisable Weighted- Average Exercise Price | $5.54 |
Exercise Prices Range $8.32 to $8.60 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $8.54 |
Exercise Prices, Upper Range Limit | $8.60 |
Options Outstanding Shares | 81,000 |
Options Exercisable Shares | 81,000 |
Weighted-Average Remaining Contractual Life (in years) | '3 years 9 months 15 days |
Options outstanding Weighted- Average Exercise Price | $8.57 |
Options Exercisable Weighted- Average Exercise Price | $8.57 |
Exercise Prices Range $9.25 to $9.31 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $9.25 |
Exercise Prices, Upper Range Limit | $9.31 |
Options Outstanding Shares | 10,000 |
Options Exercisable Shares | 10,000 |
Weighted-Average Remaining Contractual Life (in years) | '3 years 1 month 24 days |
Options outstanding Weighted- Average Exercise Price | $9.29 |
Options Exercisable Weighted- Average Exercise Price | $9.29 |
Exercise Prices Range $10.16 to $11.37 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $10.16 |
Exercise Prices, Upper Range Limit | $11.37 |
Options Outstanding Shares | 55,000 |
Options Exercisable Shares | 55,000 |
Weighted-Average Remaining Contractual Life (in years) | '3 years 18 days |
Options outstanding Weighted- Average Exercise Price | $10.33 |
Options Exercisable Weighted- Average Exercise Price | $10.33 |
Exercise prices range $13.12 to $13.12 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $13.12 |
Exercise Prices, Upper Range Limit | $13.12 |
Options Outstanding Shares | 88,000 |
Options Exercisable Shares | 34,000 |
Weighted-Average Remaining Contractual Life (in years) | '7 years 9 months 22 days |
Options outstanding Weighted- Average Exercise Price | $13.12 |
Options Exercisable Weighted- Average Exercise Price | $13.12 |
Exercise Prices Range $17.25 to $34.80 [Member] | ' |
Schedule Of Common Stock [Line Items] | ' |
Exercise Prices, Lower Range Limit | $17.25 |
Exercise Prices, Upper Range Limit | $34.80 |
Options Outstanding Shares | 184,000 |
Options Exercisable Shares | 14,000 |
Weighted-Average Remaining Contractual Life (in years) | '9 years 22 days |
Options outstanding Weighted- Average Exercise Price | $21.24 |
Options Exercisable Weighted- Average Exercise Price | $17.25 |
Common_Stock_and_Compensation_6
Common Stock and Compensation Plans - Summary of Company's Restricted Stock Issued and Outstanding (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Jun. 04, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
Nonvested Restricted Stock Units Activity [Abstract] | ' | ' | ' |
Beginning of year | ' | 256,000 | 269,000 |
Issued | ' | 43,000 | 35,000 |
Vested | -9,666 | -22,000 | -32,000 |
Forfeited | ' | -1,000 | -16,000 |
End of period | ' | 276,000 | 256,000 |
Amount of expense for three months and twelve months ended, respectively | ' | $417 | $1,086 |
NonInterest_Expense_Components
Non-Interest Expense - Components of Non-Interest Expense (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Components Of Non Interest Expense [Abstract] | ' | ' | ' |
Salaries and employee benefits | $18,933 | $12,952 | ' |
Occupancy and equipment | 6,226 | 3,594 | ' |
Data processing expense | 1,793 | 1,510 | ' |
Other operating expenses: | ' | ' | ' |
Advertising | 522 | 693 | ' |
Merger and acquisition expenses | 849 | 28 | ' |
Amortization of intangibles | 1,167 | 802 | 2,822 |
Electronic banking expense | 1,338 | 863 | ' |
Directors' fees | 227 | 190 | ' |
Due from bank service charges | 199 | 133 | ' |
FDIC and state assessment | 1,114 | 630 | ' |
Insurance | 614 | 566 | ' |
Legal and accounting | 417 | 322 | ' |
Other professional fees | 507 | 473 | ' |
Operating supplies | 472 | 343 | ' |
Postage | 352 | 207 | ' |
Telephone | 454 | 303 | ' |
Other expense | 4,173 | 2,254 | ' |
Total other operating expenses | 12,405 | 7,807 | ' |
Total non-interest expense | $39,357 | $25,863 | ' |
Significant_Estimates_and_Conc1
Significant Estimates and Concentrations - Additional Information (Detail) | Mar. 31, 2014 | Dec. 31, 2013 |
State | ||
Commitment And Contingencies [Line Items] | ' | ' |
Percentage of non-covered loans represented by non-covered real estate loans | 57.30% | 56.80% |
Percentage of total stockholders' equity represented by non-covered real estate loans | 272.10% | 283.50% |
Percentage of non-covered loans represented by non-covered residential real estate loans | 26.60% | 26.90% |
Percentage of total stockholders' equity represented by non-covered residential real estate loans | 126.30% | 134.00% |
Number of states in which the Company has its primary market areas | 3 | ' |
Alabama, Arkansas and Florida [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Percentage of total loans distributed geographically | 90.40% | ' |
Arkansas, Florida and South Alabama [Member] | ' | ' |
Commitment And Contingencies [Line Items] | ' | ' |
Percentage of real estate loans distributed geographically | 84.70% | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Commitments to extend credit outstanding | $667.50 | $623.50 |
Maximum amount of future payments by the company | $20.50 | $21.40 |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Regulatory Matters [Abstract] | ' |
Percentage of retained earnings plus current year earnings to be paid as maximum dividend | 75.00% |
Requested dividend by the company from its subsidiary | $18 |
Percentage of dividend equaling to current year earnings | 63.70% |
Tier 1 leverage capital ratio | 5.00% |
Tier 1 risk-based capital ratio | 6.00% |
Total risk-based capital ratio | 10.00% |
Tier 1 leverage capital ratio | 9.08% |
Tier 1 risk-based capital ratio | 11.67% |
Risk-based capital ratio | 12.65% |
Additional_Cash_Flow_Informati2
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Additional Cash Flow Elements And Supplemental Cash Flow Information [Abstract] | ' | ' |
Interest paid | $4,930 | $3,987 |
Income taxes paid | 500 | 200 |
Assets acquired by foreclosure | $5,839 | $5,679 |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Fair value, Level 3 inputs [Member] | Fair value, Level 3 inputs [Member] | Fair value, Level 3 inputs [Member] | |||
Financial Instrument At Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Material transfers between hierarchy levels | $0 | $0 | ' | ' | ' | ' | ' |
Fair value of loans with specific allocated losses | ' | ' | ' | ' | 79,000,000 | ' | 91,900,000 |
Accrued interest receivable reversed | ' | ' | ' | ' | 104,000 | 129,000 | ' |
Foreclosed assets held for sale not covered by loss share | $23,484,000 | $29,869,000 | ' | ' | $23,500,000 | ' | $29,900,000 |
Percentage of Collateral discount | ' | ' | 20.00% | 50.00% | ' | ' | ' |
Financial_Instruments_Estimate
Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | $132,363 | $114,621 | $0 |
Carrying Amount [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
FDIC indemnification asset | ' | 89,611 | ' |
Federal funds purchased | ' | ' | ' |
Carrying Amount [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Cash and cash equivalents | 214,559 | 165,534 | ' |
Federal funds sold | 22,925 | 4,275 | ' |
Accrued interest receivable | 21,865 | 22,944 | ' |
Demand and non-interest bearing | 1,057,148 | 991,161 | ' |
Savings and interest-bearing transaction accounts | 2,827,787 | 2,792,423 | ' |
Securities sold under agreements to repurchase | 137,524 | 160,984 | ' |
Accrued interest payable | 1,162 | 1,252 | ' |
Carrying Amount [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 132,363 | ' | ' |
FHLB borrowed funds | 354,935 | 350,661 | ' |
Carrying Amount [Member] | Fair value, Level 3 inputs [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | ' | 114,621 | ' |
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 4,003,575 | 4,063,469 | ' |
Loans receivable covered by FDIC loss share, net of allowance | 265,674 | 277,723 | ' |
FDIC indemnification asset | 73,348 | ' | ' |
Time deposits | 1,453,575 | 1,609,462 | ' |
Subordinated debentures | 60,826 | 60,826 | ' |
Fair Value [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
FDIC indemnification asset | ' | 89,611 | ' |
Federal funds purchased | ' | ' | ' |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Cash and cash equivalents | 214,559 | 165,534 | ' |
Federal funds sold | 22,925 | 4,275 | ' |
Accrued interest receivable | 21,865 | 22,944 | ' |
Demand and non-interest bearing | 1,057,148 | 991,161 | ' |
Savings and interest-bearing transaction accounts | 2,827,787 | 2,792,423 | ' |
Securities sold under agreements to repurchase | 137,524 | 160,984 | ' |
Accrued interest payable | 1,162 | 1,252 | ' |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | 113,901 | ' | ' |
FHLB borrowed funds | 357,674 | 357,674 | ' |
Fair Value [Member] | Fair value, Level 3 inputs [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Investment securities - held-to-maturity | ' | 113,901 | ' |
Loans receivable not covered by loss share, net of non-covered impaired loans and allowance | 3,987,044 | 4,053,098 | ' |
Loans receivable covered by FDIC loss share, net of allowance | 265,674 | 277,723 | ' |
FDIC indemnification asset | 73,348 | ' | ' |
Time deposits | 1,606,664 | 1,606,664 | ' |
Subordinated debentures | $60,826 | $60,826 | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Apr. 25, 2014 | Apr. 25, 2014 | Apr. 25, 2014 | Mar. 31, 2014 |
Florida Traditions Bank [Member] | Florida Traditions Bank [Member] | Florida Traditions Bank [Member] | Florida Traditions Bank [Member] | Homb Combined [Member] | |||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Pro forma basis [Member] | ||||
Maximum [Member] | Minimum [Member] | Branches | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Business combination, common stock issued, value | ' | ' | ' | $43,000,000 | ' | ' | ' |
Number of trading days used to calculate average closing price | ' | ' | ' | '20 days | ' | ' | ' |
Common stock closing price per share | ' | ' | ' | ' | $40.25 | $29.75 | ' |
Assets | 6,780,776,000 | 6,811,861,000 | 312,000,000 | ' | ' | ' | 7,090,000,000 |
Loans | ' | ' | 248,800,000 | ' | ' | ' | 4,600,000,000 |
Deposits | $5,338,510,000 | $5,393,046,000 | $277,700,000 | ' | ' | ' | $5,620,000,000 |
Number of branches | ' | ' | ' | ' | ' | ' | 155 |