Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 05, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | HOME BANCSHARES, INC | |
Entity Central Index Key | 0001331520 | |
Entity File Number | 000-51904 | |
Entity Tax Identification Number | 71-0682831 | |
Entity Incorporation, State or Country Code | AR | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Address, Address Line One | 719 Harkrider, Suite 100 | |
Entity Address, City or Town | Conway | |
Entity Address, State or Province | AR | |
Entity Address, Postal Zip Code | 72032 | |
City Area Code | 501 | |
Local Phone Number | 339-2929 | |
Trading Symbol | HOMB | |
Security Exchange Name | NASDAQ | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Entity Common Stock, Shares Outstanding | 165,167,539 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 144,197 | $ 168,914 |
Interest-bearing deposits with other banks | 899,140 | 321,687 |
Cash and cash equivalents | 1,043,337 | 490,601 |
Investment securities – available-for-sale, net of allowance for credit losses | 2,361,900 | 2,083,838 |
Loans receivable | 11,691,470 | 10,869,710 |
Allowance for credit losses | (248,224) | (102,122) |
Loans receivable, net | 11,443,246 | 10,767,588 |
Bank premises and equipment, net | 280,364 | 280,103 |
Foreclosed assets held for sale | 4,322 | 9,143 |
Cash value of life insurance | 102,989 | 102,562 |
Accrued interest receivable | 72,599 | 45,086 |
Deferred tax asset, net | 75,167 | 44,301 |
Goodwill | 973,025 | 958,408 |
Core deposit and other intangibles | 32,149 | 36,572 |
Other assets | 160,660 | 213,845 |
Total assets | 16,549,758 | 15,032,047 |
Deposits: | ||
Demand and non-interest-bearing | 3,207,967 | 2,367,091 |
Savings and interest-bearing transaction accounts | 8,011,200 | 6,933,964 |
Time deposits | 1,718,299 | 1,977,328 |
Total deposits | 12,937,466 | 11,278,383 |
Federal funds purchased | 5,000 | |
Securities sold under agreements to repurchase | 158,447 | 143,727 |
FHLB and other borrowed funds | 403,428 | 621,439 |
Accrued interest payable and other liabilities | 139,485 | 102,410 |
Subordinated debentures | 370,133 | 369,557 |
Total liabilities | 14,008,959 | 12,520,516 |
Stockholders’ equity: | ||
Common stock, par value $0.01; shares authorized 300,000,000 in 2020 and 2019; shares issued and outstanding 165,162,539 in 2020 and 166,373,346 in 2019 | 1,652 | 1,664 |
Capital surplus | 1,520,103 | 1,537,091 |
Retained earnings | 980,699 | 956,555 |
Accumulated other comprehensive income | 38,345 | 16,221 |
Total stockholders’ equity | 2,540,799 | 2,511,531 |
Total liabilities and stockholders’ equity | $ 16,549,758 | $ 15,032,047 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 165,162,539 | 166,373,346 |
Common stock, shares outstanding | 165,162,539 | 166,373,346 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest income: | ||||
Loans | $ 154,787,000 | $ 167,470,000 | $ 471,931,000 | $ 497,134,000 |
Investment securities | ||||
Taxable | 7,227,000 | 10,343,000 | 25,696,000 | 31,699,000 |
Tax-exempt | 4,367,000 | 3,193,000 | 11,179,000 | 9,755,000 |
Deposits – other banks | 252,000 | 1,068,000 | 1,579,000 | 4,239,000 |
Federal funds sold | 8,000 | 21,000 | 29,000 | |
Total interest income | 166,633,000 | 182,082,000 | 510,406,000 | 542,856,000 |
Interest expense: | ||||
Interest on deposits | 13,200,000 | 29,566,000 | 52,514,000 | 87,281,000 |
Federal funds purchased | 21,000 | 13,000 | 21,000 | |
FHLB and other borrowed funds | 2,235,000 | 3,683,000 | 7,589,000 | 14,523,000 |
Securities sold under agreements to repurchase | 237,000 | 628,000 | 959,000 | 1,892,000 |
Subordinated debentures | 4,823,000 | 5,207,000 | 14,801,000 | 15,705,000 |
Total interest expense | 20,495,000 | 39,105,000 | 75,876,000 | 119,422,000 |
Net interest income | 146,138,000 | 142,977,000 | 434,530,000 | 423,434,000 |
Provision for credit loss - loans | 14,000,000 | 102,113,000 | 1,325,000 | |
Provision for credit loss - acquired loans | 9,309,000 | |||
Provision for credit loss - investment securities | 0 | 842,000 | ||
Total credit loss expense | 14,000,000 | 112,264,000 | 1,325,000 | |
Net interest income after provision for credit losses | 132,138,000 | 142,977,000 | 322,266,000 | 422,109,000 |
Non-interest income: | ||||
Trust fees | 378,000 | 382,000 | 1,213,000 | 1,176,000 |
Mortgage lending income | 10,177,000 | 4,610,000 | 18,994,000 | 10,502,000 |
Insurance commissions | 271,000 | 603,000 | 1,482,000 | 1,727,000 |
Increase in cash value of life insurance | 548,000 | 714,000 | 1,666,000 | 2,190,000 |
Dividends from FHLB, FRB, FNBB & other | 3,433,000 | 1,101,000 | 11,505,000 | 5,755,000 |
Gain on sale of SBA loans | 291,000 | 341,000 | 887,000 | |
(Loss) gain on sale of branches, equipment and other assets, net | (27,000) | 12,000 | 109,000 | (38,000) |
Gain on OREO, net | 470,000 | 334,000 | 982,000 | 598,000 |
Fair value adjustment for marketable securities | 1,350,000 | 6,249,000 | ||
Other income | 2,602,000 | 1,500,000 | 9,760,000 | 6,088,000 |
Total non-interest income | 29,951,000 | 24,749,000 | 77,901,000 | 71,487,000 |
Non-interest expense: | ||||
Salaries and employee benefits | 41,511,000 | 39,919,000 | 120,928,000 | 115,731,000 |
Occupancy and equipment | 9,566,000 | 9,047,000 | 28,611,000 | 26,723,000 |
Data processing expense | 4,921,000 | 4,059,000 | 13,861,000 | 11,867,000 |
Other operating expenses | 15,714,000 | 14,739,000 | 66,733,000 | 50,124,000 |
Total non-interest expense | 71,712,000 | 67,764,000 | 230,133,000 | 204,445,000 |
Income before income taxes | 90,377,000 | 99,962,000 | 170,034,000 | 289,151,000 |
Income tax expense | 21,057,000 | 27,199,000 | 37,380,000 | 72,874,000 |
Net income | $ 69,320,000 | $ 72,763,000 | $ 132,654,000 | $ 216,277,000 |
Basic earnings per share | $ 0.42 | $ 0.44 | $ 0.80 | $ 1.29 |
Diluted earnings per share | $ 0.42 | $ 0.44 | $ 0.80 | $ 1.29 |
Service Charges on Deposit Accounts [Member] | ||||
Non-interest income: | ||||
Service charges | $ 4,910,000 | $ 6,492,000 | $ 15,837,000 | $ 19,152,000 |
Other Service Charges and Fees [Member] | ||||
Non-interest income: | ||||
Service charges | $ 8,539,000 | $ 8,710,000 | $ 22,261,000 | $ 23,450,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 69,320 | $ 72,763 | $ 132,654 | $ 216,277 |
Net unrealized (loss) gain on available-for-sale securities | (896) | 6,923 | 29,952 | 46,240 |
Other comprehensive income (loss), before tax effect | (896) | 6,923 | 29,952 | 46,240 |
Tax effect on other comprehensive income (loss) | 234 | (1,809) | (7,828) | (12,084) |
Other comprehensive (loss) income | (662) | 5,114 | 22,124 | 34,156 |
Comprehensive income | $ 68,658 | $ 77,877 | $ 154,778 | $ 250,433 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Cumulative Effect Period of Adoption Adjustment [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | Common Stock [Member] | Common Stock [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Capital Surplus [Member] | Capital Surplus [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect Period of Adoption Adjustment [Member] | Retained Earnings [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect Period of Adoption Adjustment [Member] | Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] |
Beginning Balance at Dec. 31, 2018 | $ 2,349,886 | $ 1,707 | $ 1,609,810 | $ 752,184 | $ (13,815) | ||||||||
Beginning Balance (Accounting Standards Update 2018-02 [Member]) at Dec. 31, 2018 | $ 459 | $ (459) | |||||||||||
Comprehensive income: | |||||||||||||
Net income | 71,350 | 71,350 | |||||||||||
Other comprehensive income (loss) | 9,453 | 9,453 | |||||||||||
Repurchase of shares of common stock | (51,685) | (27) | (51,658) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,844 | 2 | 2,842 | ||||||||||
Cash dividends - Common Stock | (20,364) | (20,364) | |||||||||||
Ending balance at Mar. 31, 2019 | 2,361,484 | 1,682 | 1,560,994 | 803,629 | (4,821) | ||||||||
Beginning Balance at Dec. 31, 2018 | 2,349,886 | 1,707 | 1,609,810 | 752,184 | (13,815) | ||||||||
Beginning Balance (Accounting Standards Update 2018-02 [Member]) at Dec. 31, 2018 | 459 | $ (459) | |||||||||||
Comprehensive income: | |||||||||||||
Net income | 216,277 | ||||||||||||
Other comprehensive income (loss) | 34,156 | ||||||||||||
Ending balance at Sep. 30, 2019 | 2,469,389 | 1,669 | 1,542,858 | 904,980 | 19,882 | ||||||||
Beginning Balance at Mar. 31, 2019 | 2,361,484 | 1,682 | 1,560,994 | 803,629 | (4,821) | ||||||||
Comprehensive income: | |||||||||||||
Net income | 72,164 | 72,164 | |||||||||||
Other comprehensive income (loss) | 19,589 | 19,589 | |||||||||||
Repurchase of shares of common stock | (12,687) | (7) | (12,680) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,685 | 2,685 | |||||||||||
Cash dividends - Common Stock | (21,829) | (21,829) | |||||||||||
Ending balance at Jun. 30, 2019 | 2,421,406 | 1,675 | 1,550,999 | 853,964 | 14,768 | ||||||||
Comprehensive income: | |||||||||||||
Net income | 72,763 | 72,763 | |||||||||||
Other comprehensive income (loss) | 5,114 | 5,114 | |||||||||||
Net issuance of shares of common stock from exercise of stock options | 231 | 231 | |||||||||||
Repurchase of shares of common stock | (11,024) | (6) | (11,018) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,646 | 2,646 | |||||||||||
Cash dividends - Common Stock | (21,747) | (21,747) | |||||||||||
Ending balance at Sep. 30, 2019 | 2,469,389 | 1,669 | 1,542,858 | 904,980 | 19,882 | ||||||||
Beginning Balance at Dec. 31, 2019 | 2,511,531 | $ 2,467,575 | 1,664 | $ 1,664 | 1,537,091 | $ 1,537,091 | 956,555 | $ 912,599 | 16,221 | $ 16,221 | |||
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 | $ (43,956) | (43,956) | |||||||||||
Comprehensive income: | |||||||||||||
Net income | 507 | 507 | |||||||||||
Other comprehensive income (loss) | 4,750 | 4,750 | |||||||||||
Net issuance of shares of common stock from exercise of stock options | 422 | 422 | |||||||||||
Repurchase of shares of common stock | (23,857) | (14) | (23,843) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,482 | 1 | 2,481 | ||||||||||
Cash dividends - Common Stock | (21,608) | (21,608) | |||||||||||
Ending balance at Mar. 31, 2020 | 2,430,271 | 1,651 | 1,516,151 | 891,498 | 20,971 | ||||||||
Beginning Balance at Dec. 31, 2019 | 2,511,531 | $ 2,467,575 | 1,664 | $ 1,664 | 1,537,091 | $ 1,537,091 | 956,555 | $ 912,599 | 16,221 | $ 16,221 | |||
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 | $ (43,956) | $ (43,956) | |||||||||||
Comprehensive income: | |||||||||||||
Net income | 132,654 | ||||||||||||
Other comprehensive income (loss) | 22,124 | ||||||||||||
Ending balance at Sep. 30, 2020 | 2,540,799 | 1,652 | 1,520,103 | 980,699 | 38,345 | ||||||||
Beginning Balance at Mar. 31, 2020 | 2,430,271 | 1,651 | 1,516,151 | 891,498 | 20,971 | ||||||||
Comprehensive income: | |||||||||||||
Net income | 62,827 | 62,827 | |||||||||||
Other comprehensive income (loss) | 18,036 | 18,036 | |||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,481 | 1 | 2,480 | ||||||||||
Cash dividends - Common Stock | (21,469) | (21,469) | |||||||||||
Ending balance at Jun. 30, 2020 | 2,492,146 | 1,652 | 1,518,631 | 932,856 | 39,007 | ||||||||
Comprehensive income: | |||||||||||||
Net income | 69,320 | 69,320 | |||||||||||
Other comprehensive income (loss) | (662) | (662) | |||||||||||
Share-based compensation net issuance of shares of restricted common stock | 1,472 | 1,472 | |||||||||||
Cash dividends - Common Stock | (21,477) | (21,477) | |||||||||||
Ending balance at Sep. 30, 2020 | $ 2,540,799 | $ 1,652 | $ 1,520,103 | $ 980,699 | $ 38,345 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | |
Net issuance of shares of common stock from exercise of stock options | 22,864 | 23,314 | ||||
Common stock shares repurchased | 1,423,560 | 615,000 | 700,363 | 2,716,359 | ||
Issuance of restricted common stock | 175,249 | 169,125 | ||||
Number of restricted shares forfeiture | 43,500 | 58,140 | 14,500 | 6,500 | ||
Common stock, cash dividends per share | $ / shares | $ 0.13 | $ 0.13 | $ 0.13 | $ 0.13 | $ 0.13 | $ 0.12 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Activities | ||
Net income | $ 132,654 | $ 216,277 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation & amortization | 15,236 | 14,689 |
Decrease in value of equity securities | 6,249 | |
Amortization of securities, net | 14,292 | 11,363 |
Accretion of purchased loans | (21,640) | (26,757) |
Share-based compensation | 6,435 | 8,175 |
Gain on assets | (1,432) | (1,060) |
Provision for credit losses | 112,264 | 1,325 |
Deferred income tax effect | (30,866) | 19,840 |
Increase in cash value of life insurance | (1,666) | (2,190) |
Originations of mortgage loans held for sale | (607,494) | (333,695) |
Proceeds from sales of mortgage loans held for sale | 571,623 | 293,868 |
Changes in assets and liabilities: | ||
Accrued interest receivable | (27,283) | 1,388 |
Other assets | (5,277) | (19,933) |
Accrued interest payable and other liabilities | 37,075 | 4,376 |
Net cash provided by operating activities | 200,170 | 187,666 |
Investing Activities | ||
Net increase in federal funds sold | (1,325) | |
Net (increase) decrease in loans, excluding purchased loans | (372,691) | 342,293 |
Purchases of investment securities – available-for-sale | (819,629) | (439,281) |
Proceeds from maturities of investment securities – available-for-sale | 556,386 | 365,288 |
Purchases of equity securities | (15,015) | |
Redemptions of other investments | 13,414 | 23,385 |
Proceeds from foreclosed assets held for sale | 7,476 | 11,960 |
Proceeds from sale of SBA loans | 4,057 | 12,534 |
Purchases of premises and equipment, net | (10,282) | (9,059) |
Return of investment on cash value of life insurance | 47,258 | |
Net cash paid – market acquisitions | (421,211) | |
Net cash (used in) provided by investing activities | (1,010,237) | 305,795 |
Financing Activities | ||
Net increase in deposits | 1,659,083 | 147,592 |
Net increase (decrease) in securities sold under agreements to repurchase | 14,720 | 13,359 |
Net decrease in federal funds purchased | (5,000) | 50,000 |
Net decrease in FHLB and other borrowed funds | (218,011) | (780,950) |
Proceeds from exercise of stock options | 422 | 231 |
Repurchase of common stock | (23,857) | (75,396) |
Dividends paid on common stock | (64,554) | (63,940) |
Net cash provided by (used in) financing activities | 1,362,803 | (709,104) |
Net change in cash and cash equivalents | 552,736 | (215,643) |
Cash and cash equivalents – beginning of year | 490,601 | 657,939 |
Cash and cash equivalents – end of period | $ 1,043,337 | $ 442,296 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [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 (sometimes referred to as “Centennial” or the “Bank”). The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. 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 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 banking services and branch locations are considered by management to be aggregated into one reportable operating segment. 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 credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit 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 September 30, 2020 and 2019 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 2019 Form 10-K, filed with the Securities and Exchange Commission. New Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available-for-sale securities was not material. However, the Company evaluated the investment portfolio during the nine months of 2020 and determined that an $842,000 provision for credit losses was necessary as of September 30, 2020 as a result of the Coronavirus (“COVID-19”) pandemic. See Note 3 for further discussion. The following table illustrates the impact of the adoption of ASC 326 on the Company’s consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 The Company adopted ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income Revenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Net income $ 69,320 $ 72,763 $ 132,654 $ 216,277 Average shares outstanding 165,200 167,178 165,458 168,178 Average diluted shares outstanding 165,200 167,178 165,458 168,178 Basic earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 Diluted earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 As of September 30, 2020 and September 30, 2019, options to purchase 3.3 |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Business Combinations | 2. Business Combinations Acquisition of LH-Finance On February 29, 2020, the Company completed the acquisition of LH-Finance, the marine lending division of People’s United Bank, N.A. The Company paid a purchase price of approximately $421.2 million in cash. LH-Finance provides direct consumer financing for United States Coast Guard (“USCG”) registered high-end sail and power boats. Additionally, LH-Finance provides inventory floor plan lines of credit to marine dealers, primarily those selling USCG documented vessels. Including the purchase accounting adjustments, as of the acquisition date, LH-Finance had approximately $409.1 million in total assets, including $407.4 million in total loans, which resulted in goodwill of $14.6 million being recorded. The acquired portfolio of loans is now housed in the Shore Premier Finance (“SPF”) division. The SPF division of Centennial is responsible for servicing the acquired loan portfolio and originating new loan production. In connection with this acquisition, Centennial opened a new loan production office in Baltimore, Maryland. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | 3. Investment Securities The following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): September 30, 2020 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 303,105 $ 2,375 $ (1,146 ) $ 304,334 Residential mortgage-backed securities 651,370 11,206 (1,348 ) 661,228 Commercial mortgage-backed securities 472,298 19,930 (51 ) 492,177 State and political subdivisions 846,146 23,441 (3,179 ) 866,408 Other securities 37,909 283 (439 ) 37,753 Total $ 2,310,828 $ 57,235 $ (6,163 ) $ 2,361,900 December 31, 2019 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 398,870 $ 1,001 $ (2,321 ) $ 397,550 Residential mortgage-backed securities 689,955 4,735 (1,241 ) 693,449 Commercial mortgage-backed securities 514,287 6,647 (642 ) 520,292 State and political subdivisions 425,989 13,824 (257 ) 439,556 Other securities 32,748 409 (166 ) 32,991 Total $ 2,061,849 $ 26,616 $ (4,627 ) $ 2,083,838 Assets, principally investment securities, having a carrying value of approximately $1.18 billion and $865.4 million at September 30, 2020 and December 31, 2019, respectively, were pledged to secure public deposits, as collateral for repurchase agreements, and for other purposes required or permitted by law. Investment securities pledged as collateral for repurchase agreements totaled approximately $158.4 million and $143.7 million at September 30, 2020 and December 31, 2019, respectively. The amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2020, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Available-for-Sale Amortized Cost Estimated Fair Value (In thousands) Due in one year or less $ 15,488 $ 15,540 Due after one year through five years 50,971 51,773 Due after five years through ten years 228,635 231,961 Due after ten years 890,066 907,221 Mortgage - backed securities: Residential 651,370 661,228 Mortgage - backed securities: Commercial 472,298 492,177 Other 2,000 2,000 Total $ 2,310,828 $ 2,361,900 During the three and nine months ended September 30, 2020 and 2019, no available-for-sale securities were sold. There were no realized gains or losses recorded on the sales for the three and nine months ended September 30, 2020 and 2019. The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2020 and December 31, 2019. September 30, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 11,933 $ (7 ) $ 117,177 $ (1,139 ) $ 129,110 $ (1,146 ) Residential mortgage-backed securities 166,111 (1,297 ) 5,129 (51 ) 171,240 (1,348 ) Commercial mortgage-backed securities 14,895 (25 ) 3,308 (26 ) 18,203 (51 ) State and political subdivisions 202,806 (3,179 ) — — 202,806 (3,179 ) Other securities 6,364 (137 ) 7,770 (302 ) 14,134 (439 ) Total $ 402,109 $ (4,645 ) $ 133,384 $ (1,518 ) $ 535,493 $ (6,163 ) December 31, 2019 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 129,951 $ (553 ) $ 143,287 $ (1,768 ) $ 273,238 $ (2,321 ) Residential mortgage-backed securities 141,877 (640 ) 90,058 (601 ) 231,935 (1,241 ) Commercial mortgage-backed securities 78,750 (330 ) 40,894 (312 ) 119,644 (642 ) State and political subdivisions 27,376 (245 ) 4,206 (12 ) 31,582 (257 ) Other securities 947 (2 ) 9,539 (164 ) 10,486 (166 ) Total $ 378,901 $ (1,770 ) $ 287,984 $ (2,857 ) $ 666,885 $ (4,627 ) Beginning January 1, 2020, the Company evaluates all securities quarterly to determine if any debt securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments . Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 842 $ — Provision for credit loss - investment securities — 842 Balance, September 30, 2020 $ 842 $ 842 For the nine months ended September 30, 2020, the Company had investment securities with approximately $1.5 million in unrealized losses, which have been in continuous loss positions for more than twelve months. Excluding the $842,000 allowance for credit losses on the state and political subdivision portfolio as a result of economic uncertainties related to COVID-19, 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 63.2% of the principal balance from the Company’s investment portfolio will mature and be repaid to the Company within five years or less. As a result, the Company has the ability and intent to hold such securities until maturity. As of September 30, 2020, the Company's securities portfolio consisted of 1,394 investment securities, 239 of which were in an unrealized loss position. As noted in the table above, the total amount of the unrealized loss was $6.2 million. The U.S government-sponsored enterprises portfolio contained unrealized losses of $1.1 million on 57 securities. The residential mortgage-backed securities portfolio contained $1.3 million of unrealized losses on 101 securities, and the commercial mortgage-backed securities portfolio contained $51,000 of unrealized losses on 7 securities. The state and political subdivisions portfolio contained $3.2 million of unrealized losses on 67 securities. In addition, the other securities portfolio contained $439,000 of unrealized losses on 7 securities. The unrealized losses on the Company's investments were a result of interest rate changes. With the exception of $842,000 allowance for credit losses on the state and political subdivision portfolio as a result of economic uncertainties related to COVID-19, the Company expects to recover the amortized cost basis over the term of the securities. Because the decline in market value was attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company does not consider an allowance for credit losses on the other portions of the investment portfolio necessary as of September 30, 2020. Income earned on available-for sale securities for the three and nine months ended September 30, 2020 and 2019, is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Taxable $ 7,227 $ 10,343 $ 25,696 $ 31,699 Non-taxable 4,367 3,193 11,179 9,755 Total $ 11,594 $ 13,536 $ 36,875 $ 41,454 |
Loans Receivable
Loans Receivable | 9 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
Loans Receivable | 4. Loans Receivable The various categories of loans receivable are summarized as follows: September 30, December 31, 2020 2019 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,342,141 $ 4,412,769 Construction/land development 1,748,928 1,776,689 Agricultural 89,476 88,400 Residential real estate loans Residential 1-4 family 1,665,628 1,819,221 Multifamily residential 491,380 488,278 Total real estate 8,337,553 8,585,357 Consumer 883,568 511,909 Commercial and industrial 2,161,818 1,528,003 Agricultural 85,365 63,644 Other 223,166 180,797 Total loans receivable 11,691,470 10,869,710 Allowance for credit losses (248,224 ) (102,122 ) Loans receivable, net $ 11,443,246 $ 10,767,588 During the three months ended September 30, 2020, the Company did not sell any guaranteed portions of certain Small Business Administration (“SBA”) loans. However, during the nine months ended September 30, 2020, the Company sold $3.7 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $341,000. During the three and nine months ended September 30, 2019, the Company sold $2.9 million and $11.6 million of the guaranteed portion of certain SBA loans, which resulted in gains of approximately $291,000 and $887,000, respectively. Mortgage loans held for sale of approximately Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. A description of our accounting policies for loans, impaired loans and non-accrual loans are set forth in our 2019 Form 10-K filed with the SEC on February 26, 2020. The Company adopted ASC 326 effective January 1, 2020. See Notes 1 and 5 for further discussion. |
Allowance for Credit Losses, Cr
Allowance for Credit Losses, Credit Quality and Other | 9 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Allowance for Credit Losses, Credit Quality and Other | 5. Allowance for Credit Losses, Credit Quality and Other The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company uses the discounted cash flow (“DCF”) method to estimate expected losses for all of Company’s loan pools. These pools are as follows: construction & land development; other commercial real estate; residential real estate; commercial & industrial; and consumer & other. The loan portfolio pools were selected in order to generally align with the loan categories specified in the quarterly call reports required to be filed with the Federal Financial Institutions Examination Council. For each of these loan pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. The identified loss drivers by segment are included below. Loss Driver Segment Call Report Segment(s) Modeled Economic Factors 1-4 Family Construction 1a1 National Unemployment (%) & Housing Price Index (%) All Other Construction 1a2 National Unemployment (%) & Commercial Real Estate Price Index (%) 1-4 Family Revolving HELOC & Junior Liens 1c1, 1c2b National Unemployment (%) & Housing Price Index (%) 1-4 Family Senior Liens 1c2a National Unemployment (%) & Housing Price Index (%) Multifamily 1d National Unemployment (%) & Housing Price Index (%) Owner Occupied CRE 1e1 National Unemployment (%) & Commercial Real Estate Price Index (%) Non-Owner Occupied CRE 1e2,1b,8 National Unemployment (%) & Commercial Real Estate Price Index (%) Commercial & Industrial, Agricultural, Non-Depository Financial Institutions, Purchase/Carry Securities, Other 4a, 3, 9a, 9b1, 9b2, Other National Unemployment (%) & National Retail Sales (%) Consumer Auto 6c National Unemployment (%) & National Retail Sales (%) Other Consumer 6b, 6d National Unemployment (%) & National Retail Sales (%) For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over four quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. The combination of adjustments for credit expectations (default and loss) and time expectations prepayment, curtailment, and time to recovery produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level net present value of expected cash flows (“NPV”). An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. Construction/Land Development and Other We originate non-farm and non-residential loans (primarily secured by commercial real estate), construction/land development loans, and agricultural loans, which are generally secured by real estate located in our market areas. Our commercial mortgage loans are generally collateralized by first liens on real estate and amortized (where defined) over a 15 to 30 year period with balloon payments due at the end of one to five years. These loans are generally underwritten by assessing cash flow (debt service coverage), primary and secondary source of repayment, the financial strength of any guarantor, the strength of the tenant (if any), the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. Generally, we will loan up to 85% of the value of improved property, 65% of the value of raw land and 75% of the value of land to be acquired and developed. A first lien on the property and assignment of lease is required if the collateral is rental property, with second lien positions considered on a case-by-case basis. Residential Real Estate Loans. We originate one to four family, residential mortgage loans generally secured by property located in our primary market areas. Residential real estate loans generally have a loan-to-value ratio of up to 90%. These loans are underwritten by giving consideration to many factors including the borrower’s ability to pay, stability of employment or source of income, debt-to-income ratio, credit history and loan-to-value ratio. Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years. Commercial loan applications must be supported by current financial information on the borrower and, where appropriate, by adequate collateral. Commercial loans are generally underwritten by addressing cash flow (debt service coverage), primary and secondary sources of repayment, the financial strength of any guarantor, the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. The loan to value ratio depends on the type of collateral. Generally, accounts receivable are financed at between 50% and 80% of accounts receivable less than 60 days past due. Inventory financing will range between 50% and 80% (with no work in process) depending on the borrower and nature of inventory. We require a first lien position for those loans. Consumer & Other Loans. Our consumer & other loans are primarily composed of loans to finance USCG registered high-end sail and power boats as a result of our acquisitions of SPF on June 30, 2018 and LH-Finance on February 29, 2020. The performance of consumer & other loans will be affected by the local and regional economies as well as the rates of personal bankruptcies, job loss, divorce and other individual-specific characteristics. Off-Balance Sheet Credit Exposures. The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit loss on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The Company uses the DCF method to estimate expected losses for all of Company’s off-balance sheet credit exposures through the use of the existing DCF models for the Company’s loan portfolio pools. The off-balance sheet credit exposures exhibit similar risk characteristics as loans currently in the Company’s loan portfolio. As of September 30, 2020, the Company expects that the markets in which it operates will continue to experience economic uncertainty along with a continued elevated unemployment rate and level and trend of delinquencies. As a result of COVID-19, the unemployment rate projections significantly increased from January 1, 2020 to September 30, 2020 which had a significant impact on the Company’s allowance for credit losses at September 30, 2020, under the loss driver analysis. As a result, the Company recorded $88.1 million in provision for credit losses on loans specifically related to the elevated unemployment rate projections for the nine months ended September 30, 2020. During the three months ended September 30, 2020, the Company recorded $14.0 million of credit loss expense due to the Company increasing reserves on deferred loans resulting from ongoing uncertainties related to the COVID-19 pandemic. As of September 30, 2020, the Company had deferrals of $933.8 million on 330 loans. The elevated unemployment rate projections and the higher reserves on deferred loans increased the allowance for credit losses to $248.2 million for the period ended September 30, 2020. In addition, the Company recorded a $17.0 million expense for the increase in the Company’s unfunded commitment reserve for the nine months ended September 30, 2020 which was due to an increase in the expected funding percentages for the Company’s unfunded commitments as well as an increase in the unemployment rate projections from January 1, 2020 to September 30, 2020, due to COVID-19. ASC 326 requires that both a discount and an allowance for credit losses be recorded on loans during an acquisition. During the first quarter of 2020, we completed the acquisition of $406.2 million of loans from LH-Finance. As a result, the Company recorded a $6.6 million loan discount and a $9.3 million increase in the allowance for credit losses for this acquisition. A small portion of the loans acquired during the quarter were purchase credit deteriorated (“PCD”) loans, so the Company recorded a $357,000 allowance for credit losses on these loans. The following table presents a summary of changes in the allowance for credit losses: Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 102,122 Impact of adopting ASC 326 43,988 Allowance for credit losses on PCD loans 357 Loans charged off (11,446 ) Recoveries of loans previously charged off 1,781 Net loans charged off (9,665 ) Provision for credit loss - loans 102,113 Provision for credit loss - acquired loans 9,309 Balance, September 30, 2020 $ 248,224 The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2020: Three Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 45,025 $ 83,335 $ 39,918 $ 44,199 $ 25,863 $ — $ 238,340 Allowance for credit losses on PCD loans — — — — — — — Loans charged off — (994 ) (93 ) (3,057 ) (455 ) — (4,599 ) Recoveries of loans previously charged off 79 129 68 36 171 — 483 Net loans (charged off) recovered 79 (865 ) (25 ) (3,021 ) (284 ) — (4,116 ) Provision for credit loss - loans (6,289 ) 15,494 5,327 (1,021 ) 489 — 14,000 Provision for credit loss - acquired loans — — — — — — — Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 Nine Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Impact of adopting ASC 326 (5,296 ) 15,912 16,680 11,584 5,108 — 43,988 Allowance for credit losses on PCD loans — — — — 357 — 357 Loans charged off (443 ) (3,003 ) (450 ) (6,207 ) (1,343 ) — (11,446 ) Recoveries of loans previously charged off 94 614 305 142 626 — 1,781 Net loans charged off (349 ) (2,389 ) (145 ) (6,065 ) (717 ) — (9,665 ) Provision for credit loss - loans 18,027 50,912 8,550 18,023 6,601 — 102,113 Provision for credit loss - acquired loans — — — — 9,309 — 9,309 Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 T he following tables present the balance s in the allowance for loan losses for the nine month period ended September 30, 2019 and the year ended December 31, 2019 and the allowance for loan losses and recorded investment in loans receivable based on portfolio segment by impairment method as of December 31, 2019. 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, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 21,302 $ 42,336 $ 26,734 $ 14,981 $ 3,438 $ — $ 108,791 Loans charged off (1,445 ) (2,360 ) (1,183 ) (1,152 ) (1,832 ) — (7,972 ) Recoveries of loans previously charged off 78 226 781 466 609 — 2,160 Net loans charged off (1,367 ) (2,134 ) (402 ) (686 ) (1,223 ) — (5,812 ) Provision for loan losses 9,156 (4,871 ) (6,963 ) 1,323 2,680 — 1,325 Balance, September 30 29,091 35,331 19,369 15,618 4,895 — 104,304 Loans charged off (5 ) (381 ) (478 ) (1,175 ) (592 ) — (2,631 ) Recoveries of loans previously charged off 17 18 145 38 231 — 449 Net loans recovered charged off 12 (363 ) (333 ) (1,137 ) (361 ) — (2,182 ) Provision for loan losses (2,670 ) (1,439 ) 1,099 2,134 876 — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 As of December 31, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 97 $ 164 $ 2,014 $ 2,401 $ — $ — $ 4,676 Loans collectively evaluated for impairment 26,336 33,365 18,121 14,214 5,410 — 97,446 Loans evaluated for impairment balance, December 31 26,433 33,529 20,135 16,615 5,410 — 102,122 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 8,933 $ 58,676 $ 56,192 $ 82,434 $ 3,195 $ — $ 209,430 Loans collectively evaluated for impairment 1,767,756 4,442,493 2,251,307 1,445,569 753,155 — 10,660,280 Loans evaluated for impairment balance, December 31 1,776,689 4,501,169 2,307,499 1,528,003 756,350 — 10,869,710 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 1,776,689 $ 4,501,169 $ 2,307,499 $ 1,528,003 $ 756,350 $ — $ 10,869,710 The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2020: Loans Past Due Nonaccrual Over 90 Days Nonaccrual With Reserve Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 14,790 $ 6,794 $ 3,706 Construction/land development 1,479 2,122 1,351 Agricultural 898 — — Residential real estate loans Residential 1-4 family 20,498 3,000 2,766 Multifamily residential 176 — — Total real estate 37,841 11,916 7,823 Consumer 3,624 — 812 Commercial and industrial 22,588 — — Agricultural & other 1,095 — — Total $ 65,148 $ 11,916 $ 8,635 The Company had $65.1 million and $47.6 million in nonaccrual loans for the periods ended September 30, 2020 and December 31, 2019, respectively. In addition, the Company had $8.6 million and $7.2 million in loans past due 90 days or more and still accruing for the periods ended September 30, 2020 and December 31, 2019, respectively. The Company had $11.9 million in nonaccrual loans with a specific reserve as of September 30, 2020. The Company did not recognize any interest income on nonaccrual loans during the period ended September 30, 2020. The following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2020: Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 39,205 $ — $ — Construction/land development 6,168 — — Agricultural 898 — — Residential real estate loans Residential 1-4 family — 36,259 — Multifamily residential — 176 — Total real estate 46,271 36,435 — Consumer — — 4,450 Commercial and industrial — — 26,130 Agricultural & other — — 1,094 Total $ 46,271 $ 36,435 $ 31,674 The Company had $114.4 million and $78.9 million in collateral-dependent impaired loans for the periods ended September 30, 2020 and December 31, 2019, respectively. Loans that do not share risk characteristics are evaluated on an individual basis. For collateral-dependent impaired loans where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the operation or sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the fair value of the underlying collateral less estimated costs to sell. The allowance for credit losses may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the loan . The following is a summary of the impaired loans as of December 31, 2019: December 31, 2019 Year Ended Unpaid Contractual Principal Balance Total Recorded Investment Allocation of Allowance for Loan Losses Average Recorded Investment Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 38 $ 38 $ — $ 40 $ 3 Construction/land development 30 30 — 22 2 Agricultural — — — 7 — Residential real estate loans Residential 1-4 family 288 288 — 253 22 Multifamily residential — — — — — Total real estate 356 356 — 322 27 Consumer 27 27 — 24 3 Commercial and industrial 55 55 — 124 3 Agricultural and other — — — — — Total loans without a specific valuation allowance 438 438 — 470 33 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 24,533 24,010 159 34,612 1,729 Construction/land development 6,718 6,491 97 8,334 247 Agricultural 1,095 1,095 5 736 20 Residential real estate loans Residential 1-4 family 25,476 25,099 2,008 23,574 202 Multifamily residential 620 620 6 1,925 52 Total real estate 58,442 57,315 2,275 69,181 2,250 Consumer 1,980 1,949 — 2,744 27 Commercial and industrial 18,070 17,952 2,401 9,212 91 Agricultural and other 1,219 1,219 — 534 — Total loans with a specific valuation allowance 79,711 78,435 4,676 81,671 2,368 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 24,571 24,048 159 34,652 1,732 Construction/land development 6,748 6,521 97 8,356 249 Agricultural 1,095 1,095 5 743 20 Residential real estate loans Residential 1-4 family 25,764 25,387 2,008 23,827 224 Multifamily residential 620 620 6 1,925 52 Total real estate 58,798 57,671 2,275 69,503 2,277 Consumer 2,007 1,976 — 2,768 30 Commercial and industrial 18,125 18,007 2,401 9,336 94 Agricultural and other 1,219 1,219 — 534 — Total impaired loans $ 80,149 $ 78,873 $ 4,676 $ 82,141 $ 2,401 The following is an aging analysis for loans receivable as of September 30, 2020 and December 31, 2019: September 30, 2020 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 5,599 $ 8,115 $ 18,496 $ 32,210 $ 4,309,931 $ 4,342,141 $ 3,706 Construction/land development 1,294 — 2,830 4,124 1,744,804 1,748,928 1,351 Agricultural 281 — 898 1,179 88,297 89,476 — Residential real estate loans — Residential 1-4 family 3,151 6,482 23,264 32,897 1,632,731 1,665,628 2,766 Multifamily residential — — 176 176 491,204 491,380 — Total real estate 10,325 14,597 45,664 70,586 8,266,967 8,337,553 7,823 Consumer 2,040 1,457 4,436 7,933 875,635 883,568 812 Commercial and industrial 520 149 22,588 23,257 2,138,561 2,161,818 — Agricultural & other 1,233 247 1,095 2,575 305,956 308,531 — Total $ 14,118 $ 16,450 $ 73,783 $ 104,351 $ 11,587,119 $ 11,691,470 $ 8,635 December 31, 2019 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,628 $ 454 $ 14,160 $ 16,242 $ 4,396,527 $ 4,412,769 $ 3,194 Construction/land development 358 1,042 3,180 4,580 1,772,109 1,776,689 1,821 Agricultural 698 — 1,094 1,792 86,608 88,400 — Residential real estate loans Residential 1-4 family 3,150 3,956 21,928 29,034 1,790,187 1,819,221 1,614 Multifamily residential — — 331 331 487,947 488,278 — Total real estate 5,834 5,452 40,693 51,979 8,533,378 8,585,357 6,629 Consumer 659 179 1,949 2,787 509,122 511,909 317 Commercial and industrial 1,835 104 10,984 12,923 1,515,080 1,528,003 292 Agricultural and other 646 3 1,219 1,868 242,573 244,441 — Total $ 8,974 $ 5,738 $ 54,845 $ 69,557 $ 10,800,153 $ 10,869,710 $ 7,238 Non-accruing loans at September 30, 2020 and December 31, 2019 were $65.1 million and $47.6 million, respectively. Interest recognized on impaired loans during the three and nine months ended September 30, 2020 was approximately $337,000 and $1.0 million, respectively. Interest recognized on impaired loans during the three and nine months ended September 30, 2019 was approximately $604,000 and $1.9 million, respectively. The amount of interest recognized on 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 Arkansas, Florida , Alabama and New York . 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. • 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 loans by class as of September 30, 2020 and December 31, 2019: 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 $2.0 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. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 25 25 Risk rating 3 159,847 352,054 577,635 281,226 275,179 1,001,965 277,410 2,925,316 Risk rating 4 39,007 98,914 159,567 276,311 200,136 331,714 17,097 1,122,746 Risk rating 5 453 2,102 60,960 7,504 90,092 82,407 746 244,264 Risk rating 6 — 860 8,484 6,465 4,602 28,739 88 49,238 Risk rating 7 — — — — — 552 — 552 Risk rating 8 — — — — — — — — Total non-farm/non-residential 199,307 453,930 806,646 571,506 570,009 1,445,377 295,366 4,342,141 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 289 — 289 Risk rating 3 129,438 203,707 133,677 59,563 56,784 64,980 117,032 765,181 Risk rating 4 119,365 484,770 83,374 66,196 30,688 39,631 124,228 948,252 Risk rating 5 — — 392 20,624 — 1,217 — 22,233 Risk rating 6 — 777 98 64 176 11,826 — 12,941 Risk rating 7 — — — — — — — — Risk rating 8 — — — 1 — 31 — 32 Total construction/land development 248,803 689,254 217,541 146,448 87,648 117,974 241,260 1,748,928 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 13,956 9,284 5,824 6,965 3,971 19,251 5,957 65,208 Risk rating 4 1,147 896 1,220 686 5,506 11,981 744 22,180 Risk rating 5 — — — — — 116 — 116 Risk rating 6 — — — — — 1,972 — 1,972 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 15,103 10,180 7,044 7,651 9,477 33,320 6,701 89,476 Total commercial real estate loans $ 463,213 $ 1,153,364 $ 1,031,231 $ 725,605 $ 667,134 $ 1,596,671 $ 543,327 $ 6,180,545 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ 48 $ — $ — $ 77 $ 7 $ 208 $ 340 Risk rating 2 — — — — — 432 2,151 2,583 Risk rating 3 200,165 205,149 172,640 150,086 131,422 372,153 136,601 1,368,216 Risk rating 4 1,162 13,307 30,473 22,731 18,439 71,450 78,723 236,285 Risk rating 5 — — 1,120 4,103 1,248 6,166 962 13,599 Risk rating 6 97 5,477 1,636 2,247 2,711 21,535 10,655 44,358 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — 102 145 247 Total residential 1-4 family 201,424 223,981 205,869 179,167 153,897 471,845 229,445 1,665,628 Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 17,132 61,312 69,283 12,482 9,248 64,128 3,779 237,364 Risk rating 4 349 316 138,527 64,409 1,927 18,917 3,121 227,566 Risk rating 5 — — — — — 26,162 — 26,162 Risk rating 6 — — — — — 288 — 288 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 17,481 61,628 207,810 76,891 11,175 109,495 6,900 491,380 Total real estate $ 682,118 $ 1,438,973 $ 1,444,910 $ 981,663 $ 832,206 $ 2,178,011 $ 779,672 $ 8,337,553 Term Loans Amortized Cost Basis by Origination Year, Continued 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Consumer Risk rating 1 $ 3,082 $ 2,822 $ 1,925 $ 563 $ 875 $ 1,617 $ 2,030 $ 12,914 Risk rating 2 — 48 937 — — 13 57 1,055 Risk rating 3 188,948 214,688 166,579 107,948 74,370 78,045 19,410 849,988 Risk rating 4 3,601 2,654 2,867 233 744 1,970 135 12,204 Risk rating 5 — 3 509 — 201 482 — 1,195 Risk rating 6 16 359 225 1,358 1,402 2,843 9 6,212 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total consumer 195,647 220,574 173,042 110,102 77,592 84,970 21,641 883,568 Commercial and industrial Risk rating 1 $ 776,764 $ 546 $ 312 $ 186 $ 20,211 $ 1,856 $ 11,232 $ 811,107 Risk rating 2 19 191 2,164 99 89 626 780 3,968 Risk rating 3 54,201 218,623 108,914 40,497 41,506 56,822 135,181 655,744 Risk rating 4 60,721 148,240 153,748 67,021 15,885 37,906 111,941 595,462 Risk rating 5 200 141 11,398 199 714 554 458 13,664 Risk rating 6 222 3,956 31,042 22,797 11,244 6,228 3,744 79,233 Risk rating 7 — 3 2,553 — — 64 — 2,620 Risk rating 8 2 1 1 1 14 — 1 20 Total commercial and industrial 892,129 371,701 310,132 130,800 89,663 104,056 263,337 2,161,818 Agricultural and other Risk rating 1 $ 72,245 $ 53 $ 53 $ — $ 113 $ 29 $ 1,275 $ 73,768 Risk rating 2 16 4,570 — — — 2,871 1,262 8,719 Risk rating 3 91,754 14,478 5,381 6,231 18,637 50,158 9,196 195,835 Risk rating 4 4,096 6,019 1,615 1,069 905 9,576 4,291 27,571 Risk rating 5 — — — — — 605 — 605 Risk rating 6 — — — — 223 1,810 — 2,033 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 168,111 25,120 7,049 7,300 19,878 65,049 16,024 308,531 To |
Goodwill and Core Deposits and
Goodwill and Core Deposits and Other Intangibles | 9 Months Ended |
Sep. 30, 2020 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Core Deposits and Other Intangibles | 6. 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 September 30, 2020 and December 31, 2019, were as follows: September 30, 2020 December 31, 2019 (In thousands) Goodwill Balance, beginning of period $ 958,408 $ 958,408 Acquisitions 14,617 — Balance, end of period $ 973,025 $ 958,408 September 30, 2020 December 31, 2019 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 36,572 $ 42,896 Amortization expense (4,423 ) (4,760 ) Balance, September 30 32,149 38,136 Amortization expense (1,564 ) Balance, end of year $ 36,572 The carrying basis and accumulated amortization of core deposits and other intangibles at September 30, 2020 and December 31, 2019 were : September 30, 2020 December 31, 2019 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (54,476 ) (50,053 ) Net carrying amount $ 32,149 $ 36,572 Core deposit and other intangible amortization expense was approximately $1.4 million and $1.6 million for the three months ended September 30, 2020 and 2019, respectively. Core deposit and other intangible amortization expense was approximately $4.4 million and $4.8 million for the nine months ended September 30, 2020 and 2019. The Company’s estimated amortization expense of core deposits and other intangibles for each of the years 2020 through 2024 is approximately: 2020 – $5.9 million; 2021 – $5.7 million; 2022 – $5.7 million; 2023 – $5.5 million; 2024 - $4.3 million. The carrying amount of the Company’s goodwill was $973.0 million and $958.4 million at September 30, 2020 and December 31, 2019 , respectively . 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 | 9 Months Ended |
Sep. 30, 2020 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Other Assets | 7. Other Assets Other assets consist primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of September 30, 2020 and December 31, 2019, other assets were $160.7 million and $213.8 million, respectively. The Company has equity securities without readily determinable fair values such as stock holdings in the Federal Home Loan Bank (“FHLB”) and the Federal Reserve Bank (“Federal Reserve”) which are outside the scope of ASC Topic 321, Investments – Equity Securities The Company has equity securities such as stock holdings in First National Bankers’ Bank and other miscellaneous holdings which are accounted for under ASC Topic 321. These equity securities without a readily determinable fair value were $27.9 million and $27.3 million at September 30, 2020 and December 31, 2019. There were no observable transactions during the period that would indicate a material change in fair value. Therefore, these investments were accounted for at cost, less impairment . |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2020 | |
Deposits [Abstract] | |
Deposits | 8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $1.00 billion and $1.12 billion at September 30, 2020 and December 31, 2019, respectively. The aggregate amount of time deposits with a minimum denomination of $100,000 was $1.32 billion and $1.54 billion at September 30, 2020 and December 31, 2019, respectively. Deposits totaling approximately $2.13 billion and $2.21 billion at September 30, 2020 and December 31, 2019, respectively, were public funds obtained primarily from state and political subdivisions in the United States. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2020 | |
Brokers And Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | 9. Securities Sold Under Agreements to Repurchase At September 30, 2020 and December 31, 2019, securities sold under agreements to repurchase totaled $158.4 million and $143.7 million, respectively. For the three-month periods ended September 30, 2020 and 2019, securities sold under agreements to repurchase daily weighted-average totaled $157.2 million and $143.6 million, respectively. For the nine months ended September 30, 2020 and 2019, securities sold under agreements to repurchase daily weighted-average totaled $150.0 million and $146.3 million, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2020 and December 31, 2019 is presented in the following tables: September 30, 2020 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 10,686 $ — $ — $ — $ 10,686 Mortgage-backed securities 19,871 — — — 19,871 State and political subdivisions 124,785 — — — 124,785 Other securities 3,105 — — — 3,105 Total borrowings $ 158,447 $ — $ — $ — $ 158,447 December 31, 2019 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 22,714 $ — $ — $ — $ 22,714 Mortgage-backed securities 30,708 — — — 30,708 State and political subdivisions 84,540 — — — 84,540 Other securities 5,765 — — — 5,765 Total borrowings $ 143,727 $ — $ — $ — $ 143,727 |
FHLB and Other Borrowed Funds
FHLB and Other Borrowed Funds | 9 Months Ended |
Sep. 30, 2020 | |
Advances From Federal Home Loan Banks [Abstract] | |
FHLB and Other Borrowed Funds | 10. FHLB and Other Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $403.4 million and $621.4 million at September 30, 2020 and December 31, 2019, respectively. Additionally, the Company had $1.23 billion and $1.26 billion at each of September 30, 2020 and December 31, 2019, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at September 30, 2020 and December 31, 2019, respectively. The parent company took out a $20.0 million line of credit for general corporate purposes during 2015. The balance on this line of credit at September 30, 2020 and December 31, 2019 was zero. |
Subordinated Debentures
Subordinated Debentures | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Subordinated Debentures | 11. Subordinated Debentures Subordinated debentures at September 30, 2020 and December 31, 2019 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components: As of September 30, As of December 31, 2020 2019 (In thousands) Trust preferred securities 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% 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% 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% 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% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,439 4,402 Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,826 5,756 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty 299,042 298,573 Total $ 370,133 $ 369,557 Trust Preferred Securities. The Company holds trust preferred securities with a face amount of $73.3 million 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 the Company’s 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. The Company wholly owns the common securities of each trust. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related subordinated debentures. The Company’s obligations under the subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each respective trust’s obligations under the trust securities issued by each respective trust. The Bank acquired $12.5 million in trust preferred securities with a fair value of $9.8 million from the Stonegate acquisition. The difference between the fair value purchased of $9.8 million and the $12.5 million face amount, is being amortized into interest expense over the remaining life of the debentures. The associated subordinated debentures are redeemable, in whole or in part, prior to maturity at our option on a quarterly basis when interest is due and payable and in whole at any time within 90 days following the occurrence and continuation of certain changes in the tax treatment or capital treatment of the debentures. Subordinated Debt Securities . On April 3, 2017, the Company completed an underwritten public offering of $300.0 million in aggregate principal amount of its 5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 (the “Notes”) for net proceeds, after underwriting discounts and issuance costs, of approximately $297.0 million. The Notes are unsecured, subordinated debt obligations and mature on April 15, 2027. From and including the date of issuance to, but excluding April 15, 2022, the Notes bear interest at an initial rate of 5.625% per annum. From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero The Company may, beginning with the interest payment date of April 15, 2022, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to April 15, 2022, at its option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. The Notes provide the Company with additional Tier 2 regulatory capital to support expected future growth. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The following is a summary of the components of the provision (benefit) for income taxes for the three and nine months ended September 30, 2020 and 2019: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Current: Federal $ 14,344 $ 16,618 $ 51,273 $ 39,844 State 4,748 5,501 16,973 13,190 Total current 19,092 22,119 68,246 53,034 Deferred: Federal 1,476 3,817 (23,189 ) 14,906 State 489 1,263 (7,677 ) 4,934 Total deferred 1,965 5,080 (30,866 ) 19,840 Income tax (benefit) expense $ 21,057 $ 27,199 $ 37,380 $ 72,874 The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % 21.00 % Effect of non-taxable interest income (1.03 ) (0.78 ) (1.48 ) (0.82 ) Stock compensation 1.17 0.11 0.53 0.10 State income taxes, net of federal benefit 3.82 3.33 3.00 3.77 Executive officer compensation & other (1.66 ) 3.55 (1.07 ) 1.15 Effective income tax rate 23.30 % 27.21 % 21.98 % 25.20 % 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: September 30, 2020 December 31, 2019 (In thousands) Deferred tax assets: Allowance for credit losses $ 72,846 $ 25,829 Deferred compensation 3,932 4,416 Stock compensation 4,838 5,960 Non-accrual interest income 833 — Real estate owned 792 1,080 Loan discounts 7,676 11,996 Tax basis premium/discount on acquisitions 5,556 6,921 Investments 603 327 Deposits (25 ) — Other 6,817 8,940 Gross deferred tax assets 103,868 65,469 Deferred tax liabilities: Accelerated depreciation on premises and equipment 2,052 1,417 Unrealized gain on securities available-for-sale 11,912 5,717 Core deposit intangibles 7,386 8,419 FHLB dividends 2,711 2,608 Other 4,640 3,007 Gross deferred tax liabilities 28,701 21,168 Net deferred tax assets $ 75,167 $ 44,301 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Alabama, Arizona, Arkansas, California, Florida, Georgia, Illinois, New York, Oklahoma, Missouri, Pennsylvania, Tennessee and Texas. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2016. |
Common Stock, Compensation Plan
Common Stock, Compensation Plans and Other | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Common Stock, Compensation Plans and Other | 13. Common Stock, Compensation Plans and Other Common Stock As of September 30, 2020, the Company’s Restated Articles of Incorporation, as amended, authorize the issuance of up to 300,000,000 shares of common stock, par value $0.01 per share. The Company also has the authority to issue up to 5,500,000 shares of preferred stock, par value $0.01 per share under the Company’s Restated Articles of Incorporation. Stock Repurchases During the first nine months of 2020, the Company repurchased a total of 1,423,560 shares with a weighted-average stock price of $16.73 per share. Shares repurchased under the program as of September 30, 2020 since its inception total 15,798,335 shares. The remaining balance available for repurchase is 3,953,665 shares at September 30, 2020. 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 the Company’s business results. As of September 30, 2020, the maximum total number of shares of the Company’s common stock available for issuance under the Plan was 13,288,000. At September 30, 2020, the Company had approximately 1,723,000 shares of common stock remaining available for future grants and approximately 5,040,000 shares of common stock reserved for issuance pursuant to outstanding awards under the Plan. The intrinsic value of the stock options outstanding and stock options vested at September 30, 2020 was $2.2 million. The intrinsic value of stock options exercised during the nine months ended September 30, 2020 was approximately $32,000. Total unrecognized compensation cost, net of income tax benefit, related to non-vested stock option awards, which are expected to be recognized over the vesting periods, was approximately $8.4 million as of September 30, 2020. The table below summarizes the stock option transactions under the Plan at September 30, 2020 and December 31, 2019 and changes during the three-month period and year then ended : For the Nine Months Ended September 30, 2020 For the Year Ended December 31, 2019 Shares (000) Weighted- Average Exercisable Price Shares (000) Weighted- Average Exercisable Price Outstanding, beginning of year 3,411 $ 19.60 3,617 $ 19.62 Granted — — 55 19.15 Forfeited/Expired (71 ) 21.85 (163 ) 22.43 Exercised (23 ) 18.46 (98 ) 15.21 Outstanding, end of period 3,317 19.56 3,411 19.60 Exercisable, end of period 1,589 $ 16.46 1,353 $ 16.03 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 options granted during the nine months ended September 30, 2020. The weighted-average fair value of options granted during the year ended December 31, 2019 was $4.11 per share. 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 Nine Months Ended September 30, 2020 For the Year Ended December 31, 2019 Expected dividend yield Not Applicable 2.70 % Expected stock price volatility Not Applicable 26.13 % Risk-free interest rate Not Applicable 2.48 % Expected life of options Not Applicable 6.5 years The following is a summary of currently outstanding and exercisable options at September 30, 2020: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $6.56 to $8.62 213 1.96 $ 7.91 213 $ 7.91 $9.54 to $14.71 205 3.40 12.06 205 12.06 $16.77 to $16.86 152 3.84 16.80 152 16.80 $17.12 to $17.36 125 4.48 17.13 125 17.13 $17.40 to $18.46 938 4.88 18.45 672 18.45 $18.50 to $20.16 63 8.08 19.21 19 19.53 $20.58 to $21.25 160 5.42 21.08 119 21.12 $21.31 to $22.22 100 7.55 22.22 40 22.22 $22.70 to $23.32 1,279 7.81 23.32 1 22.70 $23.51 to $25.96 82 6.74 25.60 43 25.90 3,317 1,589 The table below summarized the activity for the Company’s restricted stock issued and outstanding at September 30, 2020 and December 31, 2019 and changes during the period and year then ended: As of September 30, 2020 As of December 31, 2019 (In thousands) Beginning of year 1,636 1,873 Issued 264 181 Vested (367 ) (340 ) Forfeited (74 ) (78 ) End of period 1,459 1,636 Amount of expense for nine months and twelve months ended, respectively $ 5,095 $ 8,427 Total unrecognized compensation cost, net of income tax benefit, related to non-vested restricted stock awards, which are expected to be recognized over the vesting periods, was approximately $19.5 million as of September 30, 2020. |
Non-Interest Expense
Non-Interest Expense | 9 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Non-Interest Expense | 14. Non-Interest Expense The table below shows the components of non-interest expense for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Salaries and employee benefits $ 41,511 $ 39,919 $ 120,928 $ 115,731 Occupancy and equipment 9,566 9,047 28,611 26,723 Data processing expense 4,921 4,059 13,861 11,867 Other operating expenses: Advertising 902 1,201 2,923 3,347 Merger and acquisition expenses — — 711 — Amortization of intangibles 1,420 1,587 4,423 4,760 Electronic banking expense 2,426 1,901 6,195 5,655 Directors’ fees 429 380 1,265 1,206 Due from bank service charges 259 272 721 792 FDIC and state assessment 1,607 (532 ) 5,001 2,833 Hurricane expense — — — 897 Insurance 766 698 2,223 2,056 Legal and accounting 1,235 1,414 3,432 3,384 Other professional fees 1,661 1,906 6,622 7,024 Operating supplies 460 511 1,548 1,552 Postage 328 320 968 939 Telephone 321 289 955 898 Unfunded commitments — — 16,989 — Other expense 3,900 4,792 12,757 14,781 Total other operating expenses 15,714 14,739 66,733 50,124 Total non-interest expense $ 71,712 $ 67,764 $ 230,133 $ 204,445 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Leases | 15. Leases The Company leases land and office facilities under long-term, non-cancelable operating lease agreements. The leases expire at various dates through 2041 and do not include renewal options based on economic factors that would have implied that continuation of the lease was reasonably certain. Certain leases provide for increases in future minimum annual rental payments as defined in the lease agreements. The leases generally include real estate taxes and common area maintenance (“CAM”) charges in the rental payments. Short-term leases are leases having a term of twelve months or less. As part of the standard adoption, the Company elected the package of practical expedients whereby we did not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. In accordance with ASU 2018-11, the Company elected the practical expedient whereby we elected to not separate nonlease components from the associated lease component of our operating leases. As a result, we account for these components as a single component under Topic 842 since (i) the timing and pattern of transfer of the nonlease components and the associated lease component are the same and (ii) the lease component, if accounted for separately, would be classified as an operating lease. The Company recognizes short term leases on a straight-line basis and does not record a related ROU asset and liability for such leases. In addition, equipment leases were determined to be immaterial and a related ROU asset and liability for such leases is not recorded. As of September 30, 2020, the balances of the right-of-use asset and lease liability was $41.1 million and $43.9 million, respectively. The right-of-use asset is included in bank premises and equipment, net, and the lease liability is included in accrued interest payable and other liabilities. The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 2020 $ 2,300 $ 7,740 2021 8,180 6,774 2022 6,434 5,336 2023 5,700 4,760 2024 5,241 4,328 Thereafter 32,191 28,260 Total future minimum lease payments $ 60,046 $ 57,198 Discount effect of cash flows (16,128 ) (10,193 ) Present value of net future minimum lease payments $ 43,918 $ 47,005 Additional information (dollar amounts in thousands): For the Three Months Ended September 30, For the Three Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, Lease expense: 2020 2019 2020 2019 Operating lease expense $ 2,044 $ 2,057 $ 6,085 $ 6,176 Short-term lease expense 9 29 41 82 Variable lease expense 253 245 772 724 Total lease expense $ 2,306 $ 2,331 $ 6,898 $ 6,982 Other information: Cash paid for amounts included in the measurement of lease liabilities $ 2,021 $ 2,002 $ 6,013 $ 5,939 Weighted-average remaining lease term (in years) 10.08 10.67 10.21 10.78 Weighted-average discount rate 3.60 % 3.62 % 3.61 % 3.62 % The Company currently leases three properties from three related parties. Total rent expense from the leases was $27,000 or 1.17% of total lease expense and $89,000 or 1.29% of total lease expense for the three and nine months ended September 30, 2020, respectively. |
Significant Estimates and Conce
Significant Estimates and Concentrations of Credit Risks | 9 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Significant Estimates and Concentrations of Credit Risks | 16. Significant Estimates and Concentrations of Credit Risks 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 credit losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, South Alabama and New York. The Company primarily grants loans to customers located within these markets 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. Although the Company has a diversified loan portfolio, at September 30, 2020 and December 31, 2019, commercial real estate loans represented 52.9% and 57.8% of total loans receivable, respectively, and 243.3% and 250.0% of total stockholders’ equity at September 30, 2020 and December 31, 2019, respectively. Residential real estate loans represented 18.4% and 21.2% of total loans receivable and 84.9% and 91.9% of total stockholders’ equity at September 30, 2020 and December 31, 2019, respectively. Approximately 74.0% of the Company’s total loans and 77.6% of the Company’s real estate loans as of September 30, 2020, are to borrowers whose collateral is located in Alabama, Arkansas, Florida and New York, the states in which the Company has its branch locations. Beginning in the first quarter of 2020, the COVID-19 pandemic has negatively impacted the U.S. and global economy; disrupted U.S. and global supply chains; lowered equity market valuations; created significant volatility and disruption in financial markets; contributed to a decrease in the rates and yields on U.S. Treasury securities; resulted in ratings downgrades, credit deterioration, and defaults in many industries; increased demands on capital and liquidity; increased unemployment levels and decreased consumer confidence. In addition, the pandemic has resulted in temporary closures of many businesses and the institution of social distancing and sheltering in place requirements in many states and communities, including those in our footprint. The pandemic has caused the Company, and could continue to cause the Company, to recognize credit losses in our loan portfolios and increases in our allowance for credit losses and could cause further volatility in the valuation of real estate and other collateral supporting loans. Any future volatility in the economy could cause the values of assets and liabilities recorded in the financial statements to change rapidly, resulting in material future adjustments in asset values, the allowance for credit 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 | 9 Months Ended |
Sep. 30, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 17. 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 September 30, 2020 and December 31, 2019, commitments to extend credit of $2.87 billion and $2.77 billion, 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 creditworthiness 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 September 30, 2020 and December 31, 2019, is $61.8 million and $58.9 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 | 9 Months Ended |
Sep. 30, 2020 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | 18. 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 nine months of 2020, the Company requested approximately $128.4 million in regular dividends from its banking subsidiary. The Company’s banking subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in the consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, common Tier 1 equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of September 30, 2020, the Company meets all capital adequacy requirements to which it is subject. In July 2013, the Federal Reserve Board and the other federal bank regulatory agencies issued a final rule to revise their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with the agreements that were reached by the Basel Committee on Banking Supervision in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” and certain provisions of the Dodd-Frank Act (“Basel III”). Basel III applies to all depository institutions, bank holding companies with total consolidated assets of $500 million or more, and savings and loan holding companies. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. Basel III limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” of 2.5% of common equity Tier 1 capital to risk-weighted assets, which is in addition to the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement began being phased in beginning January 1, 2016 at the 0.625% level and increased by 0.625% on each subsequent January 1, until it reached 2.5% on January 1, 2019 when the phase-in period ended, and the full capital conservation buffer requirement became effective. Basel III permanently grandfathers trust preferred securities and other non-qualifying capital instruments that were issued and outstanding as of May 19, 2010 in the Tier 1 capital of bank holding companies with total consolidated assets of less than $15 billion as of December 31, 2009. The rule phases out of Tier 1 capital these non-qualifying capital instruments issued before May 19, 2010 by all other bank holding companies. Because our total consolidated assets were less than $15 billion as of December 31, 2009, our outstanding trust preferred securities continue to be treated as Tier 1 capital. However, now that the Company has exceeded $15 billion in assets, if the Company acquires another financial institution in the future, then the Tier 1 treatment of the Company’s outstanding trust preferred securities will be phased out, but those securities will still be treated as Tier 2 capital. Basel III also amended the prompt corrective action rules to incorporate a “common equity Tier 1 capital” requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization will be required to have at least a 4.5% “common equity Tier 1 risk-based capital” ratio, a 4% “Tier 1 leverage capital” ratio, a 6% “Tier 1 risk-based capital” ratio and an 8% “total risk-based capital” ratio . 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. Under Basel III, the criteria for a well-capitalized institution are now: a 6.5% “common equity Tier 1 risk-based capital” ratio, a 5% “Tier 1 leverage capital” ratio, an 8% “Tier 1 risk-based capital” ratio, and a 10% “total risk-based capital” ratio. As of September 30, 2020, the Bank met the capital standards for a well-capitalized institution. The Company’s “common equity Tier 1 risk-based capital” ratio, “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 12.64%, 10.40%, 13.22%, and 16.90%, respectively, as of September 30, 2020. |
Additional Cash Flow Informatio
Additional Cash Flow Information | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Additional Cash Flow Information | 19. Additional Cash Flow Information In connection with the LH-Finance acquisition, accounted for using the purchase method, the Company acquired approximately $409.1 million in assets, including $407.4 million in loans and paid $421.2 million in cash. The following is a summary of the Company’s additional cash flow information during the nine-month periods ended: September 30, 2020 2019 (In thousands) Interest paid $ 72,909 $ 115,361 Income taxes paid 54,698 67,787 Assets acquired by foreclosure 1,673 6,765 |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | 20. Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a hierarchy of three levels of inputs that may be used to measure fair values: 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 A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Financial Assets and Liabilities Measured on a Recurring Basis 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 September 30, 2020 and December 31, 2019, Level 3 securities were immaterial. In addition, there were no material transfers between hierarchy levels during 2020 and 2019. See Note 3 for additional detail related to investment securities. The Company 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. The Company uses a third-party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. Financial Assets and Liabilities Measured on a Nonrecurring Basis 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 credit 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 credit losses to require an increase, such increase is reported as a component of the provision for credit losses. The fair value of loans with specific allocated losses was $102.3 million and $74.2 million as of September 30, 2020 and December 31, 2019, respectively. This valuation is considered Level 3, consisting of appraisals of underlying collateral. The Company reversed approximately $388,000 and $136,000 of accrued interest receivable when impaired loans were put on non-accrual status during the three months ended September 30, 2020 and 2019, respectively. The Company reversed approximately $811,000 and $617,000 of accrued interest receivable when impaired loans were put on non-accrual status during the nine months ended September 30, 2020 and 2019, respectively. Nonfinancial Assets and Liabilities Measured on a Nonrecurring Basis 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 credit 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 September 30, 2020 and December 31, 2019, the fair value of foreclosed assets held for sale, less estimated costs to sell, was $4.3 million and $9.1 million, respectively. F oreclosed assets held for sale with a carrying value of approximately $112,000 were remeasured during the , resulting in a write-down of $112,000. Regulatory guidelines require the Company to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. 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 table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date . September 30, 2020 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 1,043,337 $ 1,043,337 1 Loans receivable, net of impaired loans and allowance 11,340,937 11,726,241 3 Accrued interest receivable 72,599 72,599 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 114,484 114,484 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 3,207,967 $ 3,207,967 1 Savings and interest-bearing transaction accounts 8,011,200 8,011,200 1 Time deposits 1,718,299 1,738,863 3 Securities sold under agreements to repurchase 158,447 158,447 1 FHLB and other borrowed funds 403,428 431,667 2 Accrued interest payable 10,968 10,968 1 Subordinated debentures 370,133 380,006 3 December 31, 2019 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 490,601 $ 490,601 1 Loans receivable, net of impaired loans and allowance 10,693,391 10,680,071 3 Accrued interest receivable 45,086 45,086 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 127,267 127,267 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 2,367,091 $ 2,367,091 1 Savings and interest-bearing transaction accounts 6,933,964 6,933,964 1 Time deposits 1,977,328 1,991,120 3 Federal funds purchased 5,000 5,000 1 Securities sold under agreements to repurchase 143,727 143,727 1 FHLB and other borrowed funds 621,439 621,742 2 Accrued interest payable 8,001 8,001 1 Subordinated debentures 369,557 380,237 3 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 21. Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses. In March 2019 , the FASB issued ASU 201 9-01 , Leases (Topic 842) Codification Improvements . The amendments in this Update reinstate the exception in Topic 842 for lessors that are not manufacturers or dealers. Specifically, those lessors will use their cost, reflecting any volume or trade discounts that may apply, as the fair value of the underlying asset. However, if significant time lapses between the acquisition of the underlying asset and lease commencement, those lessors will be required to apply the definition of fair value (exit price) in Topic 820. In addition, the amendments in this Update address the concerns of lessors within the scope of Topic 9 42 about where “principal payments received under leases” should be presented. Specifically, lessors that are depository and lending institutions within the scope of Topic 9 42 will present all “principal payments received under leases” within investing activities. Finally, the amendments in this Update clarify the FASB’s original intent by explicitly providing an exception to the paragraph 250-10-50-3 interim disclosure requirements in the Topic 842 transition disclosure requirements. The effective date for the amendments in t h is update is for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted the guidance effective January 1, 2020 , and its adoption did not have a significant impact on our financial position or financial statement disclosures. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. clarify certain aspects of the accounting for credit losses, hedging activities, and financial instruments (addressed by ASUs 2016-13, 2017-12 and 2016-01, respectively). In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief provide transition relief for entities adopting the Board’s credit losses standard, ASU 2016-13. Specifically, ASU 2019-05 amends ASU 2016-13 to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option for financial instruments that were previously recorded at amortized cost and are within the scope of the credit losses guidance in ASC 326-20, are eligible for the fair value option under ASC 825-10, and are not held-to-maturity debt securities. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in the update simplify the accounting for income taxes by removing the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items and the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in the update also simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction, specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements ; h owever, an entity may elect to do so on an entity-by-entity basis for a legal entity that is both not subject to tax and disregarded by the taxing authority . The amendments requir e that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. Section 4013 of the CARES Act provides financial institutions the temporary option to not apply , Receivables—Troubled Debt Restructurings by Creditors . |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [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 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 banking services and branch locations are considered by management to be aggregated into one reportable operating segment. |
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 credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit 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 September 30, 2020 and 2019 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 2019 Form 10-K, filed with the Securities and Exchange Commission. |
New Accounting Pronouncements | New Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available-for-sale securities was not material. However, the Company evaluated the investment portfolio during the nine months of 2020 and determined that an $842,000 provision for credit losses was necessary as of September 30, 2020 as a result of the Coronavirus (“COVID-19”) pandemic. See Note 3 for further discussion. The following table illustrates the impact of the adoption of ASC 326 on the Company’s consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 The Company adopted ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Revenue Recognition | Revenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. |
Earnings per Share | Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Net income $ 69,320 $ 72,763 $ 132,654 $ 216,277 Average shares outstanding 165,200 167,178 165,458 168,178 Average diluted shares outstanding 165,200 167,178 165,458 168,178 Basic earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 Diluted earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 As of September 30, 2020 and September 30, 2019, options to purchase 3.3 |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Summary of Impact of Adoption of ASC 326 in Consolidated Balance Sheet | The following table illustrates the impact of the adoption of ASC 326 on the Company’s consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 |
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Net income $ 69,320 $ 72,763 $ 132,654 $ 216,277 Average shares outstanding 165,200 167,178 165,458 168,178 Average diluted shares outstanding 165,200 167,178 165,458 168,178 Basic earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 Diluted earnings per share $ 0.42 $ 0.44 $ 0.80 $ 1.29 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available-for-Sale | The following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): September 30, 2020 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 303,105 $ 2,375 $ (1,146 ) $ 304,334 Residential mortgage-backed securities 651,370 11,206 (1,348 ) 661,228 Commercial mortgage-backed securities 472,298 19,930 (51 ) 492,177 State and political subdivisions 846,146 23,441 (3,179 ) 866,408 Other securities 37,909 283 (439 ) 37,753 Total $ 2,310,828 $ 57,235 $ (6,163 ) $ 2,361,900 December 31, 2019 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 398,870 $ 1,001 $ (2,321 ) $ 397,550 Residential mortgage-backed securities 689,955 4,735 (1,241 ) 693,449 Commercial mortgage-backed securities 514,287 6,647 (642 ) 520,292 State and political subdivisions 425,989 13,824 (257 ) 439,556 Other securities 32,748 409 (166 ) 32,991 Total $ 2,061,849 $ 26,616 $ (4,627 ) $ 2,083,838 |
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | The amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2020, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Available-for-Sale Amortized Cost Estimated Fair Value (In thousands) Due in one year or less $ 15,488 $ 15,540 Due after one year through five years 50,971 51,773 Due after five years through ten years 228,635 231,961 Due after ten years 890,066 907,221 Mortgage - backed securities: Residential 651,370 661,228 Mortgage - backed securities: Commercial 472,298 492,177 Other 2,000 2,000 Total $ 2,310,828 $ 2,361,900 |
Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale | The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2020 and December 31, 2019. September 30, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 11,933 $ (7 ) $ 117,177 $ (1,139 ) $ 129,110 $ (1,146 ) Residential mortgage-backed securities 166,111 (1,297 ) 5,129 (51 ) 171,240 (1,348 ) Commercial mortgage-backed securities 14,895 (25 ) 3,308 (26 ) 18,203 (51 ) State and political subdivisions 202,806 (3,179 ) — — 202,806 (3,179 ) Other securities 6,364 (137 ) 7,770 (302 ) 14,134 (439 ) Total $ 402,109 $ (4,645 ) $ 133,384 $ (1,518 ) $ 535,493 $ (6,163 ) December 31, 2019 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 129,951 $ (553 ) $ 143,287 $ (1,768 ) $ 273,238 $ (2,321 ) Residential mortgage-backed securities 141,877 (640 ) 90,058 (601 ) 231,935 (1,241 ) Commercial mortgage-backed securities 78,750 (330 ) 40,894 (312 ) 119,644 (642 ) State and political subdivisions 27,376 (245 ) 4,206 (12 ) 31,582 (257 ) Other securities 947 (2 ) 9,539 (164 ) 10,486 (166 ) Total $ 378,901 $ (1,770 ) $ 287,984 $ (2,857 ) $ 666,885 $ (4,627 ) |
Schedule of Allowance for Credit Losses on Investment Securities | Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 842 $ — Provision for credit loss - investment securities — 842 Balance, September 30, 2020 $ 842 $ 842 |
Schedule of Income Earned on Available-for Sale Securities | Income earned on available-for sale securities for the three and nine months ended September 30, 2020 and 2019, is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Taxable $ 7,227 $ 10,343 $ 25,696 $ 31,699 Non-taxable 4,367 3,193 11,179 9,755 Total $ 11,594 $ 13,536 $ 36,875 $ 41,454 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: September 30, December 31, 2020 2019 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,342,141 $ 4,412,769 Construction/land development 1,748,928 1,776,689 Agricultural 89,476 88,400 Residential real estate loans Residential 1-4 family 1,665,628 1,819,221 Multifamily residential 491,380 488,278 Total real estate 8,337,553 8,585,357 Consumer 883,568 511,909 Commercial and industrial 2,161,818 1,528,003 Agricultural 85,365 63,644 Other 223,166 180,797 Total loans receivable 11,691,470 10,869,710 Allowance for credit losses (248,224 ) (102,122 ) Loans receivable, net $ 11,443,246 $ 10,767,588 Three Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 45,025 $ 83,335 $ 39,918 $ 44,199 $ 25,863 $ — $ 238,340 Allowance for credit losses on PCD loans — — — — — — — Loans charged off — (994 ) (93 ) (3,057 ) (455 ) — (4,599 ) Recoveries of loans previously charged off 79 129 68 36 171 — 483 Net loans (charged off) recovered 79 (865 ) (25 ) (3,021 ) (284 ) — (4,116 ) Provision for credit loss - loans (6,289 ) 15,494 5,327 (1,021 ) 489 — 14,000 Provision for credit loss - acquired loans — — — — — — — Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 Nine Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Impact of adopting ASC 326 (5,296 ) 15,912 16,680 11,584 5,108 — 43,988 Allowance for credit losses on PCD loans — — — — 357 — 357 Loans charged off (443 ) (3,003 ) (450 ) (6,207 ) (1,343 ) — (11,446 ) Recoveries of loans previously charged off 94 614 305 142 626 — 1,781 Net loans charged off (349 ) (2,389 ) (145 ) (6,065 ) (717 ) — (9,665 ) Provision for credit loss - loans 18,027 50,912 8,550 18,023 6,601 — 102,113 Provision for credit loss - acquired loans — — — — 9,309 — 9,309 Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 T he following tables present the balance s in the allowance for loan losses for the nine month period ended September 30, 2019 and the year ended December 31, 2019 and the allowance for loan losses and recorded investment in loans receivable based on portfolio segment by impairment method as of December 31, 2019. 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, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 21,302 $ 42,336 $ 26,734 $ 14,981 $ 3,438 $ — $ 108,791 Loans charged off (1,445 ) (2,360 ) (1,183 ) (1,152 ) (1,832 ) — (7,972 ) Recoveries of loans previously charged off 78 226 781 466 609 — 2,160 Net loans charged off (1,367 ) (2,134 ) (402 ) (686 ) (1,223 ) — (5,812 ) Provision for loan losses 9,156 (4,871 ) (6,963 ) 1,323 2,680 — 1,325 Balance, September 30 29,091 35,331 19,369 15,618 4,895 — 104,304 Loans charged off (5 ) (381 ) (478 ) (1,175 ) (592 ) — (2,631 ) Recoveries of loans previously charged off 17 18 145 38 231 — 449 Net loans recovered charged off 12 (363 ) (333 ) (1,137 ) (361 ) — (2,182 ) Provision for loan losses (2,670 ) (1,439 ) 1,099 2,134 876 — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 As of December 31, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 97 $ 164 $ 2,014 $ 2,401 $ — $ — $ 4,676 Loans collectively evaluated for impairment 26,336 33,365 18,121 14,214 5,410 — 97,446 Loans evaluated for impairment balance, December 31 26,433 33,529 20,135 16,615 5,410 — 102,122 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 8,933 $ 58,676 $ 56,192 $ 82,434 $ 3,195 $ — $ 209,430 Loans collectively evaluated for impairment 1,767,756 4,442,493 2,251,307 1,445,569 753,155 — 10,660,280 Loans evaluated for impairment balance, December 31 1,776,689 4,501,169 2,307,499 1,528,003 756,350 — 10,869,710 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 1,776,689 $ 4,501,169 $ 2,307,499 $ 1,528,003 $ 756,350 $ — $ 10,869,710 |
Allowance for Credit Losses, _2
Allowance for Credit Losses, Credit Quality and Other (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Summary of Changes in Allowance for Loan Losses | The following table presents a summary of changes in the allowance for credit losses: Nine Months Ended September 30, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 102,122 Impact of adopting ASC 326 43,988 Allowance for credit losses on PCD loans 357 Loans charged off (11,446 ) Recoveries of loans previously charged off 1,781 Net loans charged off (9,665 ) Provision for credit loss - loans 102,113 Provision for credit loss - acquired loans 9,309 Balance, September 30, 2020 $ 248,224 |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: September 30, December 31, 2020 2019 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,342,141 $ 4,412,769 Construction/land development 1,748,928 1,776,689 Agricultural 89,476 88,400 Residential real estate loans Residential 1-4 family 1,665,628 1,819,221 Multifamily residential 491,380 488,278 Total real estate 8,337,553 8,585,357 Consumer 883,568 511,909 Commercial and industrial 2,161,818 1,528,003 Agricultural 85,365 63,644 Other 223,166 180,797 Total loans receivable 11,691,470 10,869,710 Allowance for credit losses (248,224 ) (102,122 ) Loans receivable, net $ 11,443,246 $ 10,767,588 Three Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 45,025 $ 83,335 $ 39,918 $ 44,199 $ 25,863 $ — $ 238,340 Allowance for credit losses on PCD loans — — — — — — — Loans charged off — (994 ) (93 ) (3,057 ) (455 ) — (4,599 ) Recoveries of loans previously charged off 79 129 68 36 171 — 483 Net loans (charged off) recovered 79 (865 ) (25 ) (3,021 ) (284 ) — (4,116 ) Provision for credit loss - loans (6,289 ) 15,494 5,327 (1,021 ) 489 — 14,000 Provision for credit loss - acquired loans — — — — — — — Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 Nine Months Ended September 30, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for credit losses: Beginning balance $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Impact of adopting ASC 326 (5,296 ) 15,912 16,680 11,584 5,108 — 43,988 Allowance for credit losses on PCD loans — — — — 357 — 357 Loans charged off (443 ) (3,003 ) (450 ) (6,207 ) (1,343 ) — (11,446 ) Recoveries of loans previously charged off 94 614 305 142 626 — 1,781 Net loans charged off (349 ) (2,389 ) (145 ) (6,065 ) (717 ) — (9,665 ) Provision for credit loss - loans 18,027 50,912 8,550 18,023 6,601 — 102,113 Provision for credit loss - acquired loans — — — — 9,309 — 9,309 Balance, September 30 $ 38,815 $ 97,964 $ 45,220 $ 40,157 $ 26,068 $ — $ 248,224 T he following tables present the balance s in the allowance for loan losses for the nine month period ended September 30, 2019 and the year ended December 31, 2019 and the allowance for loan losses and recorded investment in loans receivable based on portfolio segment by impairment method as of December 31, 2019. 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, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 21,302 $ 42,336 $ 26,734 $ 14,981 $ 3,438 $ — $ 108,791 Loans charged off (1,445 ) (2,360 ) (1,183 ) (1,152 ) (1,832 ) — (7,972 ) Recoveries of loans previously charged off 78 226 781 466 609 — 2,160 Net loans charged off (1,367 ) (2,134 ) (402 ) (686 ) (1,223 ) — (5,812 ) Provision for loan losses 9,156 (4,871 ) (6,963 ) 1,323 2,680 — 1,325 Balance, September 30 29,091 35,331 19,369 15,618 4,895 — 104,304 Loans charged off (5 ) (381 ) (478 ) (1,175 ) (592 ) — (2,631 ) Recoveries of loans previously charged off 17 18 145 38 231 — 449 Net loans recovered charged off 12 (363 ) (333 ) (1,137 ) (361 ) — (2,182 ) Provision for loan losses (2,670 ) (1,439 ) 1,099 2,134 876 — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 As of December 31, 2019 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 97 $ 164 $ 2,014 $ 2,401 $ — $ — $ 4,676 Loans collectively evaluated for impairment 26,336 33,365 18,121 14,214 5,410 — 97,446 Loans evaluated for impairment balance, December 31 26,433 33,529 20,135 16,615 5,410 — 102,122 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ — $ 102,122 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 8,933 $ 58,676 $ 56,192 $ 82,434 $ 3,195 $ — $ 209,430 Loans collectively evaluated for impairment 1,767,756 4,442,493 2,251,307 1,445,569 753,155 — 10,660,280 Loans evaluated for impairment balance, December 31 1,776,689 4,501,169 2,307,499 1,528,003 756,350 — 10,869,710 Purchased credit impaired loans — — — — — — — Balance, December 31 $ 1,776,689 $ 4,501,169 $ 2,307,499 $ 1,528,003 $ 756,350 $ — $ 10,869,710 |
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing | The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2020: Loans Past Due Nonaccrual Over 90 Days Nonaccrual With Reserve Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 14,790 $ 6,794 $ 3,706 Construction/land development 1,479 2,122 1,351 Agricultural 898 — — Residential real estate loans Residential 1-4 family 20,498 3,000 2,766 Multifamily residential 176 — — Total real estate 37,841 11,916 7,823 Consumer 3,624 — 812 Commercial and industrial 22,588 — — Agricultural & other 1,095 — — Total $ 65,148 $ 11,916 $ 8,635 |
Amortized Cost Basis of Collateral-dependent Impaired Loans | The following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2020: Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 39,205 $ — $ — Construction/land development 6,168 — — Agricultural 898 — — Residential real estate loans Residential 1-4 family — 36,259 — Multifamily residential — 176 — Total real estate 46,271 36,435 — Consumer — — 4,450 Commercial and industrial — — 26,130 Agricultural & other — — 1,094 Total $ 46,271 $ 36,435 $ 31,674 |
Summary of Impaired Loans | The following is a summary of the impaired loans as of December 31, 2019: December 31, 2019 Year Ended Unpaid Contractual Principal Balance Total Recorded Investment Allocation of Allowance for Loan Losses Average Recorded Investment Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 38 $ 38 $ — $ 40 $ 3 Construction/land development 30 30 — 22 2 Agricultural — — — 7 — Residential real estate loans Residential 1-4 family 288 288 — 253 22 Multifamily residential — — — — — Total real estate 356 356 — 322 27 Consumer 27 27 — 24 3 Commercial and industrial 55 55 — 124 3 Agricultural and other — — — — — Total loans without a specific valuation allowance 438 438 — 470 33 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 24,533 24,010 159 34,612 1,729 Construction/land development 6,718 6,491 97 8,334 247 Agricultural 1,095 1,095 5 736 20 Residential real estate loans Residential 1-4 family 25,476 25,099 2,008 23,574 202 Multifamily residential 620 620 6 1,925 52 Total real estate 58,442 57,315 2,275 69,181 2,250 Consumer 1,980 1,949 — 2,744 27 Commercial and industrial 18,070 17,952 2,401 9,212 91 Agricultural and other 1,219 1,219 — 534 — Total loans with a specific valuation allowance 79,711 78,435 4,676 81,671 2,368 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 24,571 24,048 159 34,652 1,732 Construction/land development 6,748 6,521 97 8,356 249 Agricultural 1,095 1,095 5 743 20 Residential real estate loans Residential 1-4 family 25,764 25,387 2,008 23,827 224 Multifamily residential 620 620 6 1,925 52 Total real estate 58,798 57,671 2,275 69,503 2,277 Consumer 2,007 1,976 — 2,768 30 Commercial and industrial 18,125 18,007 2,401 9,336 94 Agricultural and other 1,219 1,219 — 534 — Total impaired loans $ 80,149 $ 78,873 $ 4,676 $ 82,141 $ 2,401 |
Summary of Aging Analysis for Loans Receivable | The following is an aging analysis for loans receivable as of September 30, 2020 and December 31, 2019: September 30, 2020 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 5,599 $ 8,115 $ 18,496 $ 32,210 $ 4,309,931 $ 4,342,141 $ 3,706 Construction/land development 1,294 — 2,830 4,124 1,744,804 1,748,928 1,351 Agricultural 281 — 898 1,179 88,297 89,476 — Residential real estate loans — Residential 1-4 family 3,151 6,482 23,264 32,897 1,632,731 1,665,628 2,766 Multifamily residential — — 176 176 491,204 491,380 — Total real estate 10,325 14,597 45,664 70,586 8,266,967 8,337,553 7,823 Consumer 2,040 1,457 4,436 7,933 875,635 883,568 812 Commercial and industrial 520 149 22,588 23,257 2,138,561 2,161,818 — Agricultural & other 1,233 247 1,095 2,575 305,956 308,531 — Total $ 14,118 $ 16,450 $ 73,783 $ 104,351 $ 11,587,119 $ 11,691,470 $ 8,635 December 31, 2019 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,628 $ 454 $ 14,160 $ 16,242 $ 4,396,527 $ 4,412,769 $ 3,194 Construction/land development 358 1,042 3,180 4,580 1,772,109 1,776,689 1,821 Agricultural 698 — 1,094 1,792 86,608 88,400 — Residential real estate loans Residential 1-4 family 3,150 3,956 21,928 29,034 1,790,187 1,819,221 1,614 Multifamily residential — — 331 331 487,947 488,278 — Total real estate 5,834 5,452 40,693 51,979 8,533,378 8,585,357 6,629 Consumer 659 179 1,949 2,787 509,122 511,909 317 Commercial and industrial 1,835 104 10,984 12,923 1,515,080 1,528,003 292 Agricultural and other 646 3 1,219 1,868 242,573 244,441 — Total $ 8,974 $ 5,738 $ 54,845 $ 69,557 $ 10,800,153 $ 10,869,710 $ 7,238 |
Presentation of Classified Loans by Class and Risk Rating | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 25 25 Risk rating 3 159,847 352,054 577,635 281,226 275,179 1,001,965 277,410 2,925,316 Risk rating 4 39,007 98,914 159,567 276,311 200,136 331,714 17,097 1,122,746 Risk rating 5 453 2,102 60,960 7,504 90,092 82,407 746 244,264 Risk rating 6 — 860 8,484 6,465 4,602 28,739 88 49,238 Risk rating 7 — — — — — 552 — 552 Risk rating 8 — — — — — — — — Total non-farm/non-residential 199,307 453,930 806,646 571,506 570,009 1,445,377 295,366 4,342,141 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 289 — 289 Risk rating 3 129,438 203,707 133,677 59,563 56,784 64,980 117,032 765,181 Risk rating 4 119,365 484,770 83,374 66,196 30,688 39,631 124,228 948,252 Risk rating 5 — — 392 20,624 — 1,217 — 22,233 Risk rating 6 — 777 98 64 176 11,826 — 12,941 Risk rating 7 — — — — — — — — Risk rating 8 — — — 1 — 31 — 32 Total construction/land development 248,803 689,254 217,541 146,448 87,648 117,974 241,260 1,748,928 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 13,956 9,284 5,824 6,965 3,971 19,251 5,957 65,208 Risk rating 4 1,147 896 1,220 686 5,506 11,981 744 22,180 Risk rating 5 — — — — — 116 — 116 Risk rating 6 — — — — — 1,972 — 1,972 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 15,103 10,180 7,044 7,651 9,477 33,320 6,701 89,476 Total commercial real estate loans $ 463,213 $ 1,153,364 $ 1,031,231 $ 725,605 $ 667,134 $ 1,596,671 $ 543,327 $ 6,180,545 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ 48 $ — $ — $ 77 $ 7 $ 208 $ 340 Risk rating 2 — — — — — 432 2,151 2,583 Risk rating 3 200,165 205,149 172,640 150,086 131,422 372,153 136,601 1,368,216 Risk rating 4 1,162 13,307 30,473 22,731 18,439 71,450 78,723 236,285 Risk rating 5 — — 1,120 4,103 1,248 6,166 962 13,599 Risk rating 6 97 5,477 1,636 2,247 2,711 21,535 10,655 44,358 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — 102 145 247 Total residential 1-4 family 201,424 223,981 205,869 179,167 153,897 471,845 229,445 1,665,628 Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 17,132 61,312 69,283 12,482 9,248 64,128 3,779 237,364 Risk rating 4 349 316 138,527 64,409 1,927 18,917 3,121 227,566 Risk rating 5 — — — — — 26,162 — 26,162 Risk rating 6 — — — — — 288 — 288 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 17,481 61,628 207,810 76,891 11,175 109,495 6,900 491,380 Total real estate $ 682,118 $ 1,438,973 $ 1,444,910 $ 981,663 $ 832,206 $ 2,178,011 $ 779,672 $ 8,337,553 Term Loans Amortized Cost Basis by Origination Year, Continued 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Consumer Risk rating 1 $ 3,082 $ 2,822 $ 1,925 $ 563 $ 875 $ 1,617 $ 2,030 $ 12,914 Risk rating 2 — 48 937 — — 13 57 1,055 Risk rating 3 188,948 214,688 166,579 107,948 74,370 78,045 19,410 849,988 Risk rating 4 3,601 2,654 2,867 233 744 1,970 135 12,204 Risk rating 5 — 3 509 — 201 482 — 1,195 Risk rating 6 16 359 225 1,358 1,402 2,843 9 6,212 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total consumer 195,647 220,574 173,042 110,102 77,592 84,970 21,641 883,568 Commercial and industrial Risk rating 1 $ 776,764 $ 546 $ 312 $ 186 $ 20,211 $ 1,856 $ 11,232 $ 811,107 Risk rating 2 19 191 2,164 99 89 626 780 3,968 Risk rating 3 54,201 218,623 108,914 40,497 41,506 56,822 135,181 655,744 Risk rating 4 60,721 148,240 153,748 67,021 15,885 37,906 111,941 595,462 Risk rating 5 200 141 11,398 199 714 554 458 13,664 Risk rating 6 222 3,956 31,042 22,797 11,244 6,228 3,744 79,233 Risk rating 7 — 3 2,553 — — 64 — 2,620 Risk rating 8 2 1 1 1 14 — 1 20 Total commercial and industrial 892,129 371,701 310,132 130,800 89,663 104,056 263,337 2,161,818 Agricultural and other Risk rating 1 $ 72,245 $ 53 $ 53 $ — $ 113 $ 29 $ 1,275 $ 73,768 Risk rating 2 16 4,570 — — — 2,871 1,262 8,719 Risk rating 3 91,754 14,478 5,381 6,231 18,637 50,158 9,196 195,835 Risk rating 4 4,096 6,019 1,615 1,069 905 9,576 4,291 27,571 Risk rating 5 — — — — — 605 — 605 Risk rating 6 — — — — 223 1,810 — 2,033 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 168,111 25,120 7,049 7,300 19,878 65,049 16,024 308,531 Total $ 1,938,005 $ 2,056,368 $ 1,935,133 $ 1,229,865 $ 1,019,339 $ 2,432,086 $ 1,080,674 $ 11,691,470 The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented and by payment activity. The following table presents the amortized cost of performing and nonperforming loans. Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Performing $ 199,307 $ 453,930 $ 804,352 $ 571,177 $ 569,848 $ 1,409,044 $ 295,278 $ 4,302,936 Non-performing — — 2,294 329 161 36,333 88 39,205 Total non-farm/ non-residential 199,307 453,930 806,646 571,506 570,009 1,445,377 295,366 4,342,141 Construction/land development Performing 248,803 688,477 217,517 146,383 87,490 112,830 241,260 1,742,760 Non-performing — 777 24 65 158 5,144 — 6,168 Total construction/ land development 248,803 689,254 217,541 146,448 87,648 117,974 241,260 1,748,928 Agricultural Performing $ 15,103 $ 10,180 $ 7,044 $ 7,651 $ 9,477 $ 32,422 $ 6,701 $ 88,578 Non-performing — — — — — 898 — 898 Total agricultural 15,103 10,180 7,044 7,651 9,477 33,320 6,701 89,476 Total commercial real estate loans $ 463,213 $ 1,153,364 $ 1,031,231 $ 725,605 $ 667,134 $ 1,596,671 $ 543,327 $ 6,180,545 Residential real estate loans Residential 1-4 family Performing $ 201,263 $ 217,949 $ 204,313 $ 173,652 $ 151,629 $ 458,290 $ 222,273 $ 1,629,369 Non-performing 161 6,032 1,556 5,515 2,268 13,555 7,172 36,259 Total residential 1-4 family 201,424 223,981 205,869 179,167 153,897 471,845 229,445 1,665,628 Multifamily residential Performing $ 17,481 $ 61,628 $ 207,810 $ 76,891 $ 11,175 $ 109,319 $ 6,900 $ 491,204 Non-performing — — — — — 176 — 176 Total multifamily residential 17,481 61,628 207,810 76,891 11,175 109,495 6,900 491,380 Total real estate $ 682,118 $ 1,438,973 $ 1,444,910 $ 981,663 $ 832,206 $ 2,178,011 $ 779,672 $ 8,337,553 Consumer Performing $ 195,641 $ 220,256 $ 172,336 $ 109,384 $ 77,037 $ 82,830 $ 21,634 $ 879,118 Non-performing 6 318 706 718 555 2,140 7 4,450 Total consumer 195,647 220,574 173,042 110,102 77,592 84,970 21,641 883,568 Commercial and industrial Performing $ 892,129 $ 367,907 $ 298,971 $ 127,783 $ 87,085 $ 99,636 $ 262,177 $ 2,135,688 Non-performing — 3,794 11,161 3,017 2,578 4,420 1,160 26,130 Total commercial and industrial 892,129 371,701 310,132 130,800 89,663 104,056 263,337 2,161,818 Agricultural and other Performing $ 168,111 $ 25,120 $ 7,049 $ 7,300 $ 19,655 $ 64,178 $ 16,024 $ 307,437 Non-performing — — — — 223 871 — 1,094 Total agricultural and other 168,111 25,120 7,049 7,300 19,878 65,049 16,024 308,531 Total $ 1,938,005 $ 2,056,368 $ 1,935,133 $ 1,229,865 $ 1,019,339 $ 2,432,086 $ 1,080,674 $ 11,691,470 |
Presentation of Troubled Debt Restructurings ("TDRs") by Class | The following is a presentation of troubled debt restructurings (“TDRs”) by class as of September 30, 2020 and December 31, 2019: September 30, 2020 Number of Loans Pre- Modification Outstanding Balance Rate Modification Term Modification Rate & Term Modification Post- Modification Outstanding Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 14 $ 11,306 $ 4,616 $ 388 $ 4,415 $ 9,419 Construction/land development 2 58 — 9 11 20 Agricultural 1 282 273 — — 273 Residential real estate loans Residential 1-4 family 21 2,733 1,180 213 447 1,840 Total real estate 38 14,379 6,069 610 4,873 11,552 Consumer 1 17 14 — — 14 Commercial and industrial 10 2,705 157 604 89 850 Total $ 49 $ 17,101 $ 6,240 $ 1,214 $ 4,962 $ 12,416 December 31, 2019 Number of Loans Pre- Modification Outstanding Balance Rate Modification Term Modification Rate & Term Modification Post- Modification Outstanding Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 14 $ 12,738 $ 6,622 $ 232 $ 4,397 $ 11,251 Construction/land development 3 618 546 12 19 577 Agricultural 2 387 387 — — 387 Residential real estate loans Residential 1-4 family 21 2,774 1,068 227 704 1,999 Multifamily residential 2 457 128 — 290 418 Total real estate 42 16,974 8,751 471 5,410 14,632 Consumer 3 39 24 3 — 27 Commercial and industrial 9 3,069 598 615 382 1,595 Total 54 $ 20,082 $ 9,373 $ 1,089 $ 5,792 $ 16,254 |
Presentation of TDR's on Non-Accrual Status | The following is a presentation of TDRs on non-accrual status as of September 30, 2020 and December 31, 2019 because they are not in compliance with the modified terms: September 30, 2020 December 31, 2019 Number of Loans Recorded Balance Number of Loans Recorded Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 1 $ 11 2 $ 1,363 Construction/land development 1 12 2 565 Agricultural 1 273 2 387 Residential real estate loans Residential 1-4 family 8 675 7 530 Multifamily residential — — 1 128 Total real estate 11 971 14 2,973 Commercial and industrial 7 770 4 1,159 Total 18 $ 1,741 18 $ 4,132 |
Summary of Total Foreclosed Assets | The following is a presentation of total foreclosed assets as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (In thousands) Commercial real estate loans Non-farm/non-residential $ 819 $ 3,528 Construction/land development 3,341 3,218 Agriculture — — Residential real estate loans Residential 1-4 family 162 2,397 Multifamily residential — — Total foreclosed assets held for sale $ 4,322 $ 9,143 |
Goodwill and Core Deposits an_2
Goodwill and Core Deposits and Other Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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 September 30, 2020 and December 31, 2019, were as follows: September 30, 2020 December 31, 2019 (In thousands) Goodwill Balance, beginning of period $ 958,408 $ 958,408 Acquisitions 14,617 — Balance, end of period $ 973,025 $ 958,408 September 30, 2020 December 31, 2019 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 36,572 $ 42,896 Amortization expense (4,423 ) (4,760 ) Balance, September 30 32,149 38,136 Amortization expense (1,564 ) Balance, end of year $ 36,572 |
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 September 30, 2020 and December 31, 2019 were : September 30, 2020 December 31, 2019 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (54,476 ) (50,053 ) Net carrying amount $ 32,149 $ 36,572 |
Securities Sold Under Agreeme_2
Securities Sold Under Agreements to Repurchase (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Brokers And Dealers [Abstract] | |
Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase | The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2020 and December 31, 2019 is presented in the following tables: September 30, 2020 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 10,686 $ — $ — $ — $ 10,686 Mortgage-backed securities 19,871 — — — 19,871 State and political subdivisions 124,785 — — — 124,785 Other securities 3,105 — — — 3,105 Total borrowings $ 158,447 $ — $ — $ — $ 158,447 December 31, 2019 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 22,714 $ — $ — $ — $ 22,714 Mortgage-backed securities 30,708 — — — 30,708 State and political subdivisions 84,540 — — — 84,540 Other securities 5,765 — — — 5,765 Total borrowings $ 143,727 $ — $ — $ — $ 143,727 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Preferred Trust Securities and Subordinated Debentures | Subordinated debentures at September 30, 2020 and December 31, 2019 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components: As of September 30, As of December 31, 2020 2019 (In thousands) Trust preferred securities 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% 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% 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% 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% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,439 4,402 Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,826 5,756 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty 299,042 298,573 Total $ 370,133 $ 369,557 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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 and nine months ended September 30, 2020 and 2019: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Current: Federal $ 14,344 $ 16,618 $ 51,273 $ 39,844 State 4,748 5,501 16,973 13,190 Total current 19,092 22,119 68,246 53,034 Deferred: Federal 1,476 3,817 (23,189 ) 14,906 State 489 1,263 (7,677 ) 4,934 Total deferred 1,965 5,080 (30,866 ) 19,840 Income tax (benefit) expense $ 21,057 $ 27,199 $ 37,380 $ 72,874 |
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 and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % 21.00 % Effect of non-taxable interest income (1.03 ) (0.78 ) (1.48 ) (0.82 ) Stock compensation 1.17 0.11 0.53 0.10 State income taxes, net of federal benefit 3.82 3.33 3.00 3.77 Executive officer compensation & other (1.66 ) 3.55 (1.07 ) 1.15 Effective income tax rate 23.30 % 27.21 % 21.98 % 25.20 % |
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: September 30, 2020 December 31, 2019 (In thousands) Deferred tax assets: Allowance for credit losses $ 72,846 $ 25,829 Deferred compensation 3,932 4,416 Stock compensation 4,838 5,960 Non-accrual interest income 833 — Real estate owned 792 1,080 Loan discounts 7,676 11,996 Tax basis premium/discount on acquisitions 5,556 6,921 Investments 603 327 Deposits (25 ) — Other 6,817 8,940 Gross deferred tax assets 103,868 65,469 Deferred tax liabilities: Accelerated depreciation on premises and equipment 2,052 1,417 Unrealized gain on securities available-for-sale 11,912 5,717 Core deposit intangibles 7,386 8,419 FHLB dividends 2,711 2,608 Other 4,640 3,007 Gross deferred tax liabilities 28,701 21,168 Net deferred tax assets $ 75,167 $ 44,301 |
Common Stock, Compensation Pl_2
Common Stock, Compensation Plans and Other (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Summary of Stock Option Transactions under Plan | The table below summarizes the stock option transactions under the Plan at September 30, 2020 and December 31, 2019 and changes during the three-month period and year then ended : For the Nine Months Ended September 30, 2020 For the Year Ended December 31, 2019 Shares (000) Weighted- Average Exercisable Price Shares (000) Weighted- Average Exercisable Price Outstanding, beginning of year 3,411 $ 19.60 3,617 $ 19.62 Granted — — 55 19.15 Forfeited/Expired (71 ) 21.85 (163 ) 22.43 Exercised (23 ) 18.46 (98 ) 15.21 Outstanding, end of period 3,317 19.56 3,411 19.60 Exercisable, end of period 1,589 $ 16.46 1,353 $ 16.03 |
Summary of Stock Options on Valuation Assumptions | 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 Nine Months Ended September 30, 2020 For the Year Ended December 31, 2019 Expected dividend yield Not Applicable 2.70 % Expected stock price volatility Not Applicable 26.13 % Risk-free interest rate Not Applicable 2.48 % 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 September 30, 2020: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $6.56 to $8.62 213 1.96 $ 7.91 213 $ 7.91 $9.54 to $14.71 205 3.40 12.06 205 12.06 $16.77 to $16.86 152 3.84 16.80 152 16.80 $17.12 to $17.36 125 4.48 17.13 125 17.13 $17.40 to $18.46 938 4.88 18.45 672 18.45 $18.50 to $20.16 63 8.08 19.21 19 19.53 $20.58 to $21.25 160 5.42 21.08 119 21.12 $21.31 to $22.22 100 7.55 22.22 40 22.22 $22.70 to $23.32 1,279 7.81 23.32 1 22.70 $23.51 to $25.96 82 6.74 25.60 43 25.90 3,317 1,589 |
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 September 30, 2020 and December 31, 2019 and changes during the period and year then ended: As of September 30, 2020 As of December 31, 2019 (In thousands) Beginning of year 1,636 1,873 Issued 264 181 Vested (367 ) (340 ) Forfeited (74 ) (78 ) End of period 1,459 1,636 Amount of expense for nine months and twelve months ended, respectively $ 5,095 $ 8,427 |
Non-Interest Expense (Tables)
Non-Interest Expense (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Text Block [Abstract] | |
Components of Non-Interest Expense | The table below shows the components of non-interest expense for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Salaries and employee benefits $ 41,511 $ 39,919 $ 120,928 $ 115,731 Occupancy and equipment 9,566 9,047 28,611 26,723 Data processing expense 4,921 4,059 13,861 11,867 Other operating expenses: Advertising 902 1,201 2,923 3,347 Merger and acquisition expenses — — 711 — Amortization of intangibles 1,420 1,587 4,423 4,760 Electronic banking expense 2,426 1,901 6,195 5,655 Directors’ fees 429 380 1,265 1,206 Due from bank service charges 259 272 721 792 FDIC and state assessment 1,607 (532 ) 5,001 2,833 Hurricane expense — — — 897 Insurance 766 698 2,223 2,056 Legal and accounting 1,235 1,414 3,432 3,384 Other professional fees 1,661 1,906 6,622 7,024 Operating supplies 460 511 1,548 1,552 Postage 328 320 968 939 Telephone 321 289 955 898 Unfunded commitments — — 16,989 — Other expense 3,900 4,792 12,757 14,781 Total other operating expenses 15,714 14,739 66,733 50,124 Total non-interest expense $ 71,712 $ 67,764 $ 230,133 $ 204,445 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Minimum Rental Commitments under Operating Leases | The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 2020 $ 2,300 $ 7,740 2021 8,180 6,774 2022 6,434 5,336 2023 5,700 4,760 2024 5,241 4,328 Thereafter 32,191 28,260 Total future minimum lease payments $ 60,046 $ 57,198 Discount effect of cash flows (16,128 ) (10,193 ) Present value of net future minimum lease payments $ 43,918 $ 47,005 |
Additional Information of Lease Expense | Additional information (dollar amounts in thousands): For the Three Months Ended September 30, For the Three Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, Lease expense: 2020 2019 2020 2019 Operating lease expense $ 2,044 $ 2,057 $ 6,085 $ 6,176 Short-term lease expense 9 29 41 82 Variable lease expense 253 245 772 724 Total lease expense $ 2,306 $ 2,331 $ 6,898 $ 6,982 Other information: Cash paid for amounts included in the measurement of lease liabilities $ 2,021 $ 2,002 $ 6,013 $ 5,939 Weighted-average remaining lease term (in years) 10.08 10.67 10.21 10.78 Weighted-average discount rate 3.60 % 3.62 % 3.61 % 3.62 % |
Additional Cash Flow Informat_2
Additional Cash Flow Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Additional Cash Flow Information | The following is a summary of the Company’s additional cash flow information during the nine-month periods ended: September 30, 2020 2019 (In thousands) Interest paid $ 72,909 $ 115,361 Income taxes paid 54,698 67,787 Assets acquired by foreclosure 1,673 6,765 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date . September 30, 2020 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 1,043,337 $ 1,043,337 1 Loans receivable, net of impaired loans and allowance 11,340,937 11,726,241 3 Accrued interest receivable 72,599 72,599 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 114,484 114,484 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 3,207,967 $ 3,207,967 1 Savings and interest-bearing transaction accounts 8,011,200 8,011,200 1 Time deposits 1,718,299 1,738,863 3 Securities sold under agreements to repurchase 158,447 158,447 1 FHLB and other borrowed funds 403,428 431,667 2 Accrued interest payable 10,968 10,968 1 Subordinated debentures 370,133 380,006 3 December 31, 2019 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 490,601 $ 490,601 1 Loans receivable, net of impaired loans and allowance 10,693,391 10,680,071 3 Accrued interest receivable 45,086 45,086 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 127,267 127,267 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 2,367,091 $ 2,367,091 1 Savings and interest-bearing transaction accounts 6,933,964 6,933,964 1 Time deposits 1,977,328 1,991,120 3 Federal funds purchased 5,000 5,000 1 Securities sold under agreements to repurchase 143,727 143,727 1 FHLB and other borrowed funds 621,439 621,742 2 Accrued interest payable 8,001 8,001 1 Subordinated debentures 369,557 380,237 3 |
Nature of Operations and Summ_4
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, shares in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)Segment$ / sharesshares | Sep. 30, 2019USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Dec. 31, 2017 | Jun. 30, 2020USD ($) | Jan. 01, 2020USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounting Policy [Line Items] | |||||||||||||
Number of reportable operating segment | Segment | 1 | ||||||||||||
Allowance for loan losses | $ 248,224,000 | $ 104,304,000 | $ 248,224,000 | $ 104,304,000 | $ 102,122,000 | $ 238,340,000 | $ 108,791,000 | ||||||
Adjustment to retained earnings, net of tax | 980,699,000 | 980,699,000 | 956,555,000 | ||||||||||
Remaining purchased loans reclassified into purchase credit impaired loans | 107,600,000 | ||||||||||||
Accretable yield reclassified out of purchased credit impaired loans | 29,300,000 | ||||||||||||
Provision for credit loss - investment securities | $ 0 | $ 842,000 | $ 842,000 | ||||||||||
Federal income tax rate | 21.00% | 21.00% | 21.00% | 21.00% | 35.00% | ||||||||
Cumulative-effect adjustment | $ 2,540,799,000 | $ 2,430,271,000 | $ 2,469,389,000 | $ 2,540,799,000 | $ 2,469,389,000 | 2,511,531,000 | $ 2,492,146,000 | $ 2,421,406,000 | $ 2,361,484,000 | $ 2,349,886,000 | |||
Antidilutive securities excluded from computation of earnings per share, amount | shares | 3.3 | 3.6 | |||||||||||
Antidilutive securities excluded from computation of earnings per share weighted average exercise price | $ / shares | $ 19.56 | $ 19.60 | |||||||||||
Deteriorated Credit Quality [Member] | |||||||||||||
Accounting Policy [Line Items] | |||||||||||||
Allowance for loan losses | $ 773,000 | $ 773,000 | |||||||||||
Purchased loans | 0 | ||||||||||||
Accounting Standards Update 2016-13 [Member] | |||||||||||||
Accounting Policy [Line Items] | |||||||||||||
Allowance for loan losses | $ 146,100,000 | ||||||||||||
Adjustment to retained earnings, net of tax | 32,500,000 | ||||||||||||
Reserve for unfunded commitments recognized | 15,500,000 | ||||||||||||
Provision for credit loss - investment securities | $ 842,000 | ||||||||||||
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member] | |||||||||||||
Accounting Policy [Line Items] | |||||||||||||
Adjustment to retained earnings, net of tax | 11,500,000 | ||||||||||||
Reserve for unfunded commitments recognized | 15,500,000 | ||||||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||||||||||
Accounting Policy [Line Items] | |||||||||||||
Allowance for loan losses | 43,988,000 | $ 43,988,000 | |||||||||||
Cumulative-effect adjustment | $ (43,956,000) | ||||||||||||
Accounting Standards Update 2018-02 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||||||||||
Accounting Policy [Line Items] | |||||||||||||
Cumulative-effect adjustment | $ 459,000,000 |
Nature of Operations and Summ_5
Nature of Operations and Summary of Significant Accounting Policies - Summary of Impact of Adoption of ASC 326 in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||||||
Allowance for loan losses | $ 248,224 | $ 238,340 | $ 102,122 | $ 104,304 | $ 108,791 | |
Accounting Standards Update 2016-13 [Member] | ||||||
Assets | ||||||
Allowance for loan losses | $ 146,100 | |||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 146,110 | |||||
Accounting Standards Update 2016-13 [Member] | Pre-ASC 326 Adoption [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 102,122 | |||||
Accounting Standards Update 2016-13 [Member] | Impact of ASC 326 Adoption [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 43,988 | $ 43,988 | ||||
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | ||||||
Liabilities: | ||||||
Allowance for credit losses on OBS credit exposures (included in other liabilities) | 15,521 | |||||
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Impact of ASC 326 Adoption [Member] | ||||||
Liabilities: | ||||||
Allowance for credit losses on OBS credit exposures (included in other liabilities) | $ 15,521 |
Nature of Operations and Summ_6
Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||||||||
Net income | $ 69,320 | $ 62,827 | $ 507 | $ 72,763 | $ 72,164 | $ 71,350 | $ 132,654 | $ 216,277 |
Average shares outstanding | 165,200 | 167,178 | 165,458 | 168,178 | ||||
Average diluted shares outstanding | 165,200 | 167,178 | 165,458 | 168,178 | ||||
Basic earnings per share | $ 0.42 | $ 0.44 | $ 0.80 | $ 1.29 | ||||
Diluted earnings per share | $ 0.42 | $ 0.44 | $ 0.80 | $ 1.29 |
Business Combinations - Acquisi
Business Combinations - Acquisition of LH-Finance - Additional Information (Detail) - USD ($) $ in Thousands | Feb. 29, 2020 | Sep. 30, 2020 |
Business Acquisition [Line Items] | ||
Goodwill | $ 14,617 | |
LH-Finance [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition date | Feb. 29, 2020 | |
Business combination consideration paid | $ 421,200 | 421,200 |
Business combination, recognized identifiable assets acquired, Total Assets | 409,100 | 409,100 |
Business combination, recognized identifiable liabilities assumed, Loans | 407,400 | $ 407,400 |
Goodwill | $ 14,600 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | $ 2,310,828 | $ 2,061,849 |
Gross Unrealized Gains | 57,235 | 26,616 |
Gross Unrealized (Losses) | (6,163) | (4,627) |
Estimated Fair Value | 2,361,900 | 2,083,838 |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 303,105 | 398,870 |
Gross Unrealized Gains | 2,375 | 1,001 |
Gross Unrealized (Losses) | (1,146) | (2,321) |
Estimated Fair Value | 304,334 | 397,550 |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 651,370 | 689,955 |
Gross Unrealized Gains | 11,206 | 4,735 |
Gross Unrealized (Losses) | (1,348) | (1,241) |
Estimated Fair Value | 661,228 | 693,449 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 472,298 | 514,287 |
Gross Unrealized Gains | 19,930 | 6,647 |
Gross Unrealized (Losses) | (51) | (642) |
Estimated Fair Value | 492,177 | 520,292 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 846,146 | 425,989 |
Gross Unrealized Gains | 23,441 | 13,824 |
Gross Unrealized (Losses) | (3,179) | (257) |
Estimated Fair Value | 866,408 | 439,556 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 37,909 | 32,748 |
Gross Unrealized Gains | 283 | 409 |
Gross Unrealized (Losses) | (439) | (166) |
Estimated Fair Value | $ 37,753 | $ 32,991 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020USD ($)Security | Mar. 31, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)Security | Sep. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) | |
Carrying value of investment securities | $ 1,180,000,000 | $ 1,180,000,000 | $ 865,400,000 | ||||
Investment securities pledged as collateral | 158,400,000 | 158,400,000 | 143,700,000 | ||||
Available for sale securities sold | 0 | $ 0 | 0 | $ 0 | |||
Realized gains or losses on available for sale securities | 0 | $ 0 | 0 | $ 0 | |||
Investment securities, provision for credit losses | 0 | $ 842,000 | 842,000 | ||||
Fair value of unrealized losses | 1,518,000 | 1,518,000 | 2,857,000 | ||||
Allowance for credit losses on investment securities | $ 842,000 | $ 842,000 | $ 842,000 | ||||
Percentage of Company's investment portfolio | 63.20% | ||||||
Maturity & repayment description of investment portfolio | five years or less | ||||||
Number of investment securities available for sale | Security | 1,394 | 1,394 | |||||
Number of investment in debt securities unrealized loss position | Security | 239 | 239 | |||||
Debt securities available for sale unrealized loss position | $ 6,163,000 | $ 6,163,000 | 4,627,000 | ||||
U.S. Government-Sponsored Enterprises [Member] | |||||||
Fair value of unrealized losses | $ 1,139,000 | $ 1,139,000 | 1,768,000 | ||||
Number of investment in debt securities unrealized loss position | Security | 57 | 57 | |||||
Debt securities available for sale unrealized loss position | $ 1,146,000 | $ 1,146,000 | 2,321,000 | ||||
Residential Mortgage-Backed Securities [Member] | |||||||
Fair value of unrealized losses | $ 51,000 | $ 51,000 | 601,000 | ||||
Number of investment in debt securities unrealized loss position | Security | 101 | 101 | |||||
Debt securities available for sale unrealized loss position | $ 1,348,000 | $ 1,348,000 | 1,241,000 | ||||
Commercial Mortgage-Backed Securities [Member] | |||||||
Fair value of unrealized losses | $ 26,000 | $ 26,000 | 312,000 | ||||
Number of investment in debt securities unrealized loss position | Security | 7 | 7 | |||||
Debt securities available for sale unrealized loss position | $ 51,000 | $ 51,000 | 642,000 | ||||
State and Political Subdivisions [Member] | |||||||
Fair value of unrealized losses | 12,000 | ||||||
Number of investment in debt securities unrealized loss position | Security | 67 | 67 | |||||
Debt securities available for sale unrealized loss position | $ 3,179,000 | $ 3,179,000 | 257,000 | ||||
Other Securities [Member] | |||||||
Fair value of unrealized losses | $ 302,000 | $ 302,000 | 164,000 | ||||
Number of investment in debt securities unrealized loss position | Security | 7 | 7 | |||||
Debt securities available for sale unrealized loss position | $ 439,000 | $ 439,000 | $ 166,000 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available-for-Sale Securities, Amortized Cost | ||
Due in one year or less, Amortized Cost | $ 15,488 | |
Due after one year through five years, Amortized Cost | 50,971 | |
Due after five years through ten years, Amortized Cost | 228,635 | |
Due after ten years, Amortized Cost | 890,066 | |
Total, Amortized Cost | 2,310,828 | $ 2,061,849 |
Available-for-Sale Securities, Estimated Fair Value | ||
Due in one year or less, Estimated Fair Value | 15,540 | |
Due after one year through five years, Estimated Fair Value | 51,773 | |
Due after five years through ten years, Estimated Fair Value | 231,961 | |
Due after ten years, Estimated Fair Value | 907,221 | |
Total, Estimated Fair Value | 2,361,900 | 2,083,838 |
Residential Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 651,370 | |
Total, Amortized Cost | 651,370 | 689,955 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 661,228 | |
Total, Estimated Fair Value | 661,228 | 693,449 |
Commercial Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 472,298 | |
Total, Amortized Cost | 472,298 | 514,287 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 492,177 | |
Total, Estimated Fair Value | 492,177 | 520,292 |
Other [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 2,000 | |
Total, Amortized Cost | 37,909 | 32,748 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 2,000 | |
Total, Estimated Fair Value | $ 37,753 | $ 32,991 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $ 402,109,000 | $ 378,901,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (4,645,000) | (1,770,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 133,384,000 | 287,984,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,518,000) | (2,857,000) |
Fair Value of Available-for-Sale Securities, Total | 535,493,000 | 666,885,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (6,163,000) | (4,627,000) |
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 | 11,933,000 | 129,951,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (7,000) | (553,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 117,177,000 | 143,287,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,139,000) | (1,768,000) |
Fair Value of Available-for-Sale Securities, Total | 129,110,000 | 273,238,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,146,000) | (2,321,000) |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 166,111,000 | 141,877,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (1,297,000) | (640,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 5,129,000 | 90,058,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (51,000) | (601,000) |
Fair Value of Available-for-Sale Securities, Total | 171,240,000 | 231,935,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,348,000) | (1,241,000) |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 14,895,000 | 78,750,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (25,000) | (330,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 3,308,000 | 40,894,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (26,000) | (312,000) |
Fair Value of Available-for-Sale Securities, Total | 18,203,000 | 119,644,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (51,000) | (642,000) |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 202,806,000 | 27,376,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (3,179,000) | (245,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 4,206,000 | |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (12,000) | |
Fair Value of Available-for-Sale Securities, Total | 202,806,000 | 31,582,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (3,179,000) | (257,000) |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 6,364,000 | 947,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (137,000) | (2,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 7,770,000 | 9,539,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (302,000) | (164,000) |
Fair Value of Available-for-Sale Securities, Total | 14,134,000 | 10,486,000 |
Unrealized Losses of Available-for-Sale Securities, Total | $ (439,000) | $ (166,000) |
Investment Securities - Schedul
Investment Securities - Schedule of Allowance for Credit Losses on Investment Securities (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2020 | |
Allowance for credit losses: | |||
Beginning balance | $ 842,000 | ||
Provision for credit loss - investment securities | 0 | $ 842,000 | $ 842,000 |
Balance, September 30, 2020 | $ 842,000 | $ 842,000 |
Investment Securities - Sched_2
Investment Securities - Schedule of Income Earned on Available-for Sale Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Investment Income [Line Items] | ||||
Income earned on securities, taxable | $ 7,227 | $ 10,343 | $ 25,696 | $ 31,699 |
Income earned on securities, non-taxable | 4,367 | 3,193 | 11,179 | 9,755 |
Available-for-sale [Member] | ||||
Investment Income [Line Items] | ||||
Income earned on securities, taxable | 7,227 | 10,343 | 25,696 | 31,699 |
Income earned on securities, non-taxable | 4,367 | 3,193 | 11,179 | 9,755 |
Income earned on securities, total | $ 11,594 | $ 13,536 | $ 36,875 | $ 41,454 |
Loans Receivable - Summary of V
Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 11,691,470 | $ 10,869,710 | |||
Allowance for credit losses | (248,224) | $ (238,340) | (102,122) | $ (104,304) | $ (108,791) |
Loans receivable, net | 11,443,246 | 10,767,588 | |||
Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,776,689 | ||||
Allowance for credit losses | (38,815) | (45,025) | (26,433) | (29,091) | (21,302) |
Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 6,180,545 | ||||
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 4,342,141 | 4,412,769 | |||
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,748,928 | 1,776,689 | |||
Commercial Real Estate Loans [Member] | Agricultural [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 89,476 | 88,400 | |||
Residential Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 2,307,499 | ||||
Allowance for credit losses | (45,220) | (39,918) | (20,135) | (19,369) | (26,734) |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,665,628 | 1,819,221 | |||
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 491,380 | 488,278 | |||
Total Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 8,337,553 | 8,585,357 | |||
Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 883,568 | 511,909 | |||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 2,161,818 | 1,528,003 | |||
Allowance for credit losses | (40,157) | $ (44,199) | (16,615) | $ (15,618) | $ (14,981) |
Agricultural [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 85,365 | 63,644 | |||
Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 223,166 | $ 180,797 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgage loans held for sale | $ 118,900,000 | $ 118,900,000 | $ 83,100,000 | ||
SBA Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans sold during period | $ 0 | $ 2,900,000 | 3,700,000 | $ 11,600,000 | |
Gain on sale of guaranteed portion of loans | $ 291,000 | $ 341,000 | $ 887,000 |
Allowance for Credit Losses, _3
Allowance for Credit Losses, Credit Quality and Other - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)LoanRatingContract | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($)Contract | Jun. 30, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2018USD ($) | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | $ 248,224,000 | $ 102,122,000 | $ 104,304,000 | $ 248,224,000 | $ 104,304,000 | $ 102,122,000 | $ 238,340,000 | $ 108,791,000 | ||
Retained earnings net of tax | 980,699,000 | 956,555,000 | 980,699,000 | $ 956,555,000 | ||||||
Provision for loan losses expensed | 14,000,000 | 102,113,000 | 1,325,000 | |||||||
Expenses on Increase in unfunded commitment reserve | $ 16,989,000 | |||||||||
Number of loans | Contract | 49 | 54 | ||||||||
Increase in allowance for credit losses | $ 248,200,000 | |||||||||
Provision for credit loss - acquired loans | 9,309,000 | |||||||||
Allowance for credit losses on PCD loans | 357,000 | |||||||||
Non-accrual loans | 65,148,000 | 47,600,000 | 65,148,000 | $ 47,600,000 | ||||||
Loans past due 90 days or more and still accruing | 8,635,000 | 7,238,000 | 8,635,000 | 7,238,000 | ||||||
Nonaccrual loans with specific reserve | 11,900,000 | 11,900,000 | ||||||||
Interest income on nonaccrual loans | 0 | |||||||||
Collateral-dependent impaired loans | 114,400,000 | 78,900,000 | 114,400,000 | 78,900,000 | ||||||
Interest recognized on impaired loans | 337,000 | 604,000 | $ 1,000,000 | 1,900,000 | 2,401,000 | |||||
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 | $ 2,000,000 | |||||||||
Over $2,000,000 assessed minimum rated | Rating | 5 | |||||||||
Over $2,000,000 assessed maximum rated | Rating | 8 | |||||||||
Revolver loans converted to term loans | $ 92,400,000 | |||||||||
Number of revolving loans convert to term loans | Loan | 289 | |||||||||
Purchase price of loans at acquisition | $ 1,300,000 | |||||||||
Non-credit premium at acquisition | 17,000 | |||||||||
Par value of acquired loans at acquisition | 1,000,000 | |||||||||
Deteriorated Credit Quality [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | 773,000 | 773,000 | ||||||||
LH-Finance [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Acquisition of loans | $ 406,200,000 | |||||||||
Loan discount | 6,600,000 | |||||||||
Provision for credit loss - acquired loans | 9,300,000 | |||||||||
Allowance for credit losses on PCD loans | $ 357,000 | |||||||||
COVID-19 [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Provision for loan losses expensed | 14,000,000 | 88,100,000 | ||||||||
Payment Deferral [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Loan deferrals | 933,800,000 | $ 933,800,000 | ||||||||
Number of loans | Loan | 330 | |||||||||
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Minimum [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Loans collateralized by first liens on real estate amortized period | 15 years | |||||||||
Loans collateralized by first liens on real estate balloon payments due period | 1 year | |||||||||
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Maximum [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Loans collateralized by first liens on real estate amortized period | 30 years | |||||||||
Loans collateralized by first liens on real estate balloon payments due period | 5 years | |||||||||
Percentage of loan value of improved property | 85.00% | |||||||||
Percentage of loan value of raw land | 65.00% | |||||||||
Percentage of loan value of land to be acquired and developed | 75.00% | |||||||||
Residential Real Estate Loans [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | 45,220,000 | 20,135,000 | 19,369,000 | $ 45,220,000 | 19,369,000 | 20,135,000 | 39,918,000 | 26,734,000 | ||
Provision for loan losses expensed | 5,327,000 | 1,099,000 | $ 8,550,000 | (6,963,000) | ||||||
Residential Real Estate Loans [Member] | Maximum [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Loan-to-value ratio | 90.00% | |||||||||
Commercial and Industrial Loans [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | 40,157,000 | 16,615,000 | $ 15,618,000 | $ 40,157,000 | 15,618,000 | $ 16,615,000 | $ 44,199,000 | $ 14,981,000 | ||
Provision for loan losses expensed | (1,021,000) | 2,134,000 | $ 18,023,000 | $ 1,323,000 | ||||||
Number of loans | Contract | 10 | 9 | ||||||||
Non-accrual loans | $ 22,588,000 | $ 22,588,000 | ||||||||
Loans past due 90 days or more and still accruing | 292,000 | $ 292,000 | ||||||||
Interest recognized on impaired loans | 94,000 | |||||||||
Commercial and Industrial Loans [Member] | Minimum [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Commercial loans terms | 1 year | |||||||||
Inventory financing percentage | 50.00% | 50.00% | ||||||||
Commercial and Industrial Loans [Member] | Minimum [Member] | Accounts Receivable Less than 60 Days Past Due [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Accounts receivable financed percentage | 50.00% | 50.00% | ||||||||
Commercial and Industrial Loans [Member] | Maximum [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Commercial loans terms | 7 years | |||||||||
Inventory financing percentage | 80.00% | 80.00% | ||||||||
Commercial and Industrial Loans [Member] | Maximum [Member] | Accounts Receivable Less than 60 Days Past Due [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Accounts receivable financed percentage | 80.00% | 80.00% | ||||||||
Accounting Standards Update 2016-13 [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | $ 146,100,000 | |||||||||
Retained earnings net of tax | 32,500,000 | |||||||||
Reserve for unfunded commitments recognized | 15,500,000 | |||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | 43,988,000 | 43,988,000 | 43,988,000 | |||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Residential Real Estate Loans [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | 16,680,000 | 16,680,000 | ||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Commercial and Industrial Loans [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Allowance for loan losses | $ 11,584,000 | $ 11,584,000 | ||||||||
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member] | ||||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||||||
Retained earnings net of tax | 11,500,000 | |||||||||
Reserve for unfunded commitments recognized | $ 15,500,000 |
Allowance for Credit Losses, _4
Allowance for Credit Losses, Credit Quality and Other - Summary of Changes in Allowance for Loan Losses (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | $ 238,340,000 | $ 104,304,000 | $ 102,122,000 | $ 108,791,000 |
Allowance for credit losses on PCD loans | 357,000 | |||
Loans charged off | (4,599,000) | (2,631,000) | (11,446,000) | (7,972,000) |
Recoveries of loans previously charged off | 1,781,000 | |||
Net loans charged off | (9,665,000) | |||
Provision for credit loss - loans | 14,000,000 | 102,113,000 | 1,325,000 | |
Provision for credit loss - acquired loans | 9,309,000 | |||
Ending balance | $ 248,224,000 | 102,122,000 | 248,224,000 | $ 104,304,000 |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Beginning balance | $ 43,988,000 | |||
Ending balance | $ 43,988,000 |
Allowance for Credit Losses, _5
Allowance for Credit Losses, Credit Quality and Other - Schedule of Allowance for Credit Losses (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | $ 238,340,000 | $ 104,304,000 | $ 102,122,000 | $ 108,791,000 |
Allowance for credit losses on PCD loans | 357,000 | |||
Loans charged off | (4,599,000) | (2,631,000) | (11,446,000) | (7,972,000) |
Recoveries of loans previously charged off | 483,000 | 449,000 | 1,781,000 | 2,160,000 |
Net loans (charged off) recovered | (4,116,000) | (2,182,000) | (9,665,000) | (5,812,000) |
Provision for credit loss - loans | 14,000,000 | 102,113,000 | 1,325,000 | |
Provision for credit loss - acquired loans | 9,309,000 | |||
Ending balance | 248,224,000 | 102,122,000 | 248,224,000 | 104,304,000 |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 43,988,000 | |||
Ending balance | 43,988,000 | |||
Residential Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 39,918,000 | 19,369,000 | 20,135,000 | 26,734,000 |
Loans charged off | (93,000) | (478,000) | (450,000) | (1,183,000) |
Recoveries of loans previously charged off | 68,000 | 145,000 | 305,000 | 781,000 |
Net loans (charged off) recovered | (25,000) | (333,000) | (145,000) | (402,000) |
Provision for credit loss - loans | 5,327,000 | 1,099,000 | 8,550,000 | (6,963,000) |
Ending balance | 45,220,000 | 20,135,000 | 45,220,000 | 19,369,000 |
Residential Real Estate Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 16,680,000 | |||
Ending balance | 16,680,000 | |||
Commercial and Industrial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 44,199,000 | 15,618,000 | 16,615,000 | 14,981,000 |
Loans charged off | (3,057,000) | (1,175,000) | (6,207,000) | (1,152,000) |
Recoveries of loans previously charged off | 36,000 | 38,000 | 142,000 | 466,000 |
Net loans (charged off) recovered | (3,021,000) | (1,137,000) | (6,065,000) | (686,000) |
Provision for credit loss - loans | (1,021,000) | 2,134,000 | 18,023,000 | 1,323,000 |
Ending balance | 40,157,000 | 16,615,000 | 40,157,000 | 15,618,000 |
Commercial and Industrial [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 11,584,000 | |||
Ending balance | 11,584,000 | |||
Construction/Land Development Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 45,025,000 | 29,091,000 | 26,433,000 | 21,302,000 |
Loans charged off | (5,000) | (443,000) | (1,445,000) | |
Recoveries of loans previously charged off | 79,000 | 17,000 | 94,000 | 78,000 |
Net loans (charged off) recovered | 79,000 | 12,000 | (349,000) | (1,367,000) |
Provision for credit loss - loans | (6,289,000) | (2,670,000) | 18,027,000 | 9,156,000 |
Ending balance | 38,815,000 | 26,433,000 | 38,815,000 | 29,091,000 |
Construction/Land Development Loan [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | (5,296,000) | |||
Ending balance | (5,296,000) | |||
Other Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 83,335,000 | 35,331,000 | 33,529,000 | 42,336,000 |
Loans charged off | (994,000) | (381,000) | (3,003,000) | (2,360,000) |
Recoveries of loans previously charged off | 129,000 | 18,000 | 614,000 | 226,000 |
Net loans (charged off) recovered | (865,000) | (363,000) | (2,389,000) | (2,134,000) |
Provision for credit loss - loans | 15,494,000 | (1,439,000) | 50,912,000 | (4,871,000) |
Ending balance | 97,964,000 | 33,529,000 | 97,964,000 | 35,331,000 |
Other Commercial Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 15,912,000 | |||
Ending balance | 15,912,000 | |||
Consumer & Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | 25,863,000 | 4,895,000 | 5,410,000 | 3,438,000 |
Allowance for credit losses on PCD loans | 357,000 | |||
Loans charged off | (455,000) | (592,000) | (1,343,000) | (1,832,000) |
Recoveries of loans previously charged off | 171,000 | 231,000 | 626,000 | 609,000 |
Net loans (charged off) recovered | (284,000) | (361,000) | (717,000) | (1,223,000) |
Provision for credit loss - loans | 489,000 | 876,000 | 6,601,000 | 2,680,000 |
Provision for credit loss - acquired loans | 9,309,000 | |||
Ending balance | $ 26,068,000 | 5,410,000 | 26,068,000 | $ 4,895,000 |
Consumer & Other [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning balance | $ 5,108,000 | |||
Ending balance | $ 5,108,000 |
Allowance for Credit Losses, _6
Allowance for Credit Losses, Credit Quality and Other - Recorded Investment in Loans Based on Portfolio Segment by Impairment Method (Detail) - USD ($) | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | $ 4,676,000 | ||||
Loans collectively evaluated for impairment | 97,446,000 | ||||
Loans evaluated for impairment, ending balance | $ 248,224,000 | $ 238,340,000 | 102,122,000 | $ 104,304,000 | $ 108,791,000 |
Loans individually evaluated for impairment | 209,430,000 | ||||
Loans collectively evaluated for impairment | 10,660,280,000 | ||||
Loans evaluated for impairment, ending balance | 11,691,470,000 | 10,869,710,000 | |||
Deteriorated Credit Quality [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans evaluated for impairment, ending balance | 773,000 | ||||
Residential Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 2,014,000 | ||||
Loans collectively evaluated for impairment | 18,121,000 | ||||
Loans evaluated for impairment, ending balance | 45,220,000 | 39,918,000 | 20,135,000 | 19,369,000 | 26,734,000 |
Loans individually evaluated for impairment | 56,192,000 | ||||
Loans collectively evaluated for impairment | 2,251,307,000 | ||||
Loans evaluated for impairment, ending balance | 2,307,499,000 | ||||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 2,401,000 | ||||
Loans collectively evaluated for impairment | 14,214,000 | ||||
Loans evaluated for impairment, ending balance | 40,157,000 | 44,199,000 | 16,615,000 | 15,618,000 | 14,981,000 |
Loans individually evaluated for impairment | 82,434,000 | ||||
Loans collectively evaluated for impairment | 1,445,569,000 | ||||
Loans evaluated for impairment, ending balance | 2,161,818,000 | 1,528,003,000 | |||
Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 97,000 | ||||
Loans collectively evaluated for impairment | 26,336,000 | ||||
Loans evaluated for impairment, ending balance | 38,815,000 | 45,025,000 | 26,433,000 | 29,091,000 | 21,302,000 |
Loans individually evaluated for impairment | 8,933,000 | ||||
Loans collectively evaluated for impairment | 1,767,756,000 | ||||
Loans evaluated for impairment, ending balance | 1,776,689,000 | ||||
Other Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 164,000 | ||||
Loans collectively evaluated for impairment | 33,365,000 | ||||
Loans evaluated for impairment, ending balance | 97,964,000 | 83,335,000 | 33,529,000 | 35,331,000 | 42,336,000 |
Loans individually evaluated for impairment | 58,676,000 | ||||
Loans collectively evaluated for impairment | 4,442,493,000 | ||||
Loans evaluated for impairment, ending balance | 4,501,169,000 | ||||
Consumer & Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans collectively evaluated for impairment | 5,410,000 | ||||
Loans evaluated for impairment, ending balance | $ 26,068,000 | $ 25,863,000 | 5,410,000 | $ 4,895,000 | $ 3,438,000 |
Loans individually evaluated for impairment | 3,195,000 | ||||
Loans collectively evaluated for impairment | 753,155,000 | ||||
Loans evaluated for impairment, ending balance | $ 756,350,000 |
Allowance for Credit Losses, _7
Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | $ 65,148 | $ 47,600 |
Nonaccrual with reserve | 11,916 | |
Loans Past Due Over 90 Days Still Accruing | 8,635 | 7,238 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 14,790 | |
Nonaccrual with reserve | 6,794 | |
Loans Past Due Over 90 Days Still Accruing | 3,706 | 3,194 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 1,479 | |
Nonaccrual with reserve | 2,122 | |
Loans Past Due Over 90 Days Still Accruing | 1,351 | 1,821 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 898 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 20,498 | |
Nonaccrual with reserve | 3,000 | |
Loans Past Due Over 90 Days Still Accruing | 2,766 | 1,614 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 176 | |
Total Real Estate [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 37,841 | |
Nonaccrual with reserve | 11,916 | |
Loans Past Due Over 90 Days Still Accruing | 7,823 | 6,629 |
Consumer [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 3,624 | |
Loans Past Due Over 90 Days Still Accruing | 812 | 317 |
Commercial and Industrial [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 22,588 | |
Loans Past Due Over 90 Days Still Accruing | $ 292 | |
Agricultural and Other [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | $ 1,095 |
Allowance for Credit Losses, _8
Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Collateral-dependent Impaired Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | $ 114,400 | $ 78,900 |
Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 46,271 | |
Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 36,435 | |
Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 31,674 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 39,205 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 6,168 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 898 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 36,259 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 176 | |
Total Real Estate [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 46,271 | |
Total Real Estate [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 36,435 | |
Consumer [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 4,450 | |
Commercial and Industrial [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 26,130 | |
Agricultural and Other [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | $ 1,094 |
Allowance for Credit Losses, _9
Allowance for Credit Losses, Credit Quality and Other - Summary of Impaired Loans (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | $ 438,000 | ||||
Total Recorded Investment | 438,000 | ||||
Average Recorded Investment | 470,000 | ||||
Interest Recognized | 33,000 | ||||
Unpaid Contractual Principal Balance | 79,711,000 | ||||
Total Recorded Investment | 78,435,000 | ||||
Allocation of Allowance for Loan Losses | 4,676,000 | ||||
Average Recorded Investment | 81,671,000 | ||||
Interest Recognized | 2,368,000 | ||||
Unpaid Contractual Principal Balance | 80,149,000 | ||||
Total Recorded Investment | 78,873,000 | ||||
Average Recorded Investment | 82,141,000 | ||||
Interest Recognized | $ 337,000 | $ 604,000 | $ 1,000,000 | $ 1,900,000 | 2,401,000 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 38,000 | ||||
Total Recorded Investment | 38,000 | ||||
Average Recorded Investment | 40,000 | ||||
Interest Recognized | 3,000 | ||||
Unpaid Contractual Principal Balance | 24,533,000 | ||||
Total Recorded Investment | 24,010,000 | ||||
Allocation of Allowance for Loan Losses | 159,000 | ||||
Average Recorded Investment | 34,612,000 | ||||
Interest Recognized | 1,729,000 | ||||
Unpaid Contractual Principal Balance | 24,571,000 | ||||
Total Recorded Investment | 24,048,000 | ||||
Average Recorded Investment | 34,652,000 | ||||
Interest Recognized | 1,732,000 | ||||
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 30,000 | ||||
Total Recorded Investment | 30,000 | ||||
Average Recorded Investment | 22,000 | ||||
Interest Recognized | 2,000 | ||||
Unpaid Contractual Principal Balance | 6,718,000 | ||||
Total Recorded Investment | 6,491,000 | ||||
Allocation of Allowance for Loan Losses | 97,000 | ||||
Average Recorded Investment | 8,334,000 | ||||
Interest Recognized | 247,000 | ||||
Unpaid Contractual Principal Balance | 6,748,000 | ||||
Total Recorded Investment | 6,521,000 | ||||
Average Recorded Investment | 8,356,000 | ||||
Interest Recognized | 249,000 | ||||
Commercial Real Estate Loans [Member] | Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 7,000 | ||||
Unpaid Contractual Principal Balance | 1,095,000 | ||||
Total Recorded Investment | 1,095,000 | ||||
Allocation of Allowance for Loan Losses | 5,000 | ||||
Average Recorded Investment | 736,000 | ||||
Interest Recognized | 20,000 | ||||
Unpaid Contractual Principal Balance | 1,095,000 | ||||
Total Recorded Investment | 1,095,000 | ||||
Average Recorded Investment | 743,000 | ||||
Interest Recognized | 20,000 | ||||
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 288,000 | ||||
Total Recorded Investment | 288,000 | ||||
Average Recorded Investment | 253,000 | ||||
Interest Recognized | 22,000 | ||||
Unpaid Contractual Principal Balance | 25,476,000 | ||||
Total Recorded Investment | 25,099,000 | ||||
Allocation of Allowance for Loan Losses | 2,008,000 | ||||
Average Recorded Investment | 23,574,000 | ||||
Interest Recognized | 202,000 | ||||
Unpaid Contractual Principal Balance | 25,764,000 | ||||
Total Recorded Investment | 25,387,000 | ||||
Average Recorded Investment | 23,827,000 | ||||
Interest Recognized | 224,000 | ||||
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 620,000 | ||||
Total Recorded Investment | 620,000 | ||||
Allocation of Allowance for Loan Losses | 6,000 | ||||
Average Recorded Investment | 1,925,000 | ||||
Interest Recognized | 52,000 | ||||
Unpaid Contractual Principal Balance | 620,000 | ||||
Total Recorded Investment | 620,000 | ||||
Average Recorded Investment | 1,925,000 | ||||
Interest Recognized | 52,000 | ||||
Total Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 356,000 | ||||
Total Recorded Investment | 356,000 | ||||
Average Recorded Investment | 322,000 | ||||
Interest Recognized | 27,000 | ||||
Unpaid Contractual Principal Balance | 58,442,000 | ||||
Total Recorded Investment | 57,315,000 | ||||
Allocation of Allowance for Loan Losses | 2,275,000 | ||||
Average Recorded Investment | 69,181,000 | ||||
Interest Recognized | 2,250,000 | ||||
Unpaid Contractual Principal Balance | 58,798,000 | ||||
Total Recorded Investment | 57,671,000 | ||||
Average Recorded Investment | 69,503,000 | ||||
Interest Recognized | 2,277,000 | ||||
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 27,000 | ||||
Total Recorded Investment | 27,000 | ||||
Average Recorded Investment | 24,000 | ||||
Interest Recognized | 3,000 | ||||
Unpaid Contractual Principal Balance | 1,980,000 | ||||
Total Recorded Investment | 1,949,000 | ||||
Average Recorded Investment | 2,744,000 | ||||
Interest Recognized | 27,000 | ||||
Unpaid Contractual Principal Balance | 2,007,000 | ||||
Total Recorded Investment | 1,976,000 | ||||
Average Recorded Investment | 2,768,000 | ||||
Interest Recognized | 30,000 | ||||
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 55,000 | ||||
Total Recorded Investment | 55,000 | ||||
Average Recorded Investment | 124,000 | ||||
Interest Recognized | 3,000 | ||||
Unpaid Contractual Principal Balance | 18,070,000 | ||||
Total Recorded Investment | 17,952,000 | ||||
Allocation of Allowance for Loan Losses | 2,401,000 | ||||
Average Recorded Investment | 9,212,000 | ||||
Interest Recognized | 91,000 | ||||
Unpaid Contractual Principal Balance | 18,125,000 | ||||
Total Recorded Investment | 18,007,000 | ||||
Average Recorded Investment | 9,336,000 | ||||
Interest Recognized | 94,000 | ||||
Agricultural and Other [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 1,219,000 | ||||
Total Recorded Investment | 1,219,000 | ||||
Average Recorded Investment | 534,000 | ||||
Unpaid Contractual Principal Balance | 1,219,000 | ||||
Total Recorded Investment | 1,219,000 | ||||
Average Recorded Investment | $ 534,000 |
Allowance for Credit Losses,_10
Allowance for Credit Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 104,351 | $ 69,557 |
Current Loans | 11,587,119 | 10,800,153 |
Loans evaluated for impairment, ending balance | 11,691,470 | 10,869,710 |
Accruing Loans Past Due 90 Days or More | 8,635 | 7,238 |
Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,118 | 8,974 |
Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 16,450 | 5,738 |
Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 73,783 | 54,845 |
Construction/Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans evaluated for impairment, ending balance | 1,776,689 | |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans evaluated for impairment, ending balance | 6,180,545 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 32,210 | 16,242 |
Current Loans | 4,309,931 | 4,396,527 |
Loans evaluated for impairment, ending balance | 4,342,141 | 4,412,769 |
Accruing Loans Past Due 90 Days or More | 3,706 | 3,194 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,599 | 1,628 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,115 | 454 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18,496 | 14,160 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,124 | 4,580 |
Current Loans | 1,744,804 | 1,772,109 |
Loans evaluated for impairment, ending balance | 1,748,928 | 1,776,689 |
Accruing Loans Past Due 90 Days or More | 1,351 | 1,821 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,294 | 358 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,042 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,830 | 3,180 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,179 | 1,792 |
Current Loans | 88,297 | 86,608 |
Loans evaluated for impairment, ending balance | 89,476 | 88,400 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 281 | 698 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 898 | 1,094 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans evaluated for impairment, ending balance | 2,307,499 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 32,897 | 29,034 |
Current Loans | 1,632,731 | 1,790,187 |
Loans evaluated for impairment, ending balance | 1,665,628 | 1,819,221 |
Accruing Loans Past Due 90 Days or More | 2,766 | 1,614 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,151 | 3,150 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,482 | 3,956 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23,264 | 21,928 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 176 | 331 |
Current Loans | 491,204 | 487,947 |
Loans evaluated for impairment, ending balance | 491,380 | 488,278 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 176 | 331 |
Total Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 70,586 | 51,979 |
Current Loans | 8,266,967 | 8,533,378 |
Loans evaluated for impairment, ending balance | 8,337,553 | 8,585,357 |
Accruing Loans Past Due 90 Days or More | 7,823 | 6,629 |
Total Real Estate [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,325 | 5,834 |
Total Real Estate [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,597 | 5,452 |
Total Real Estate [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 45,664 | 40,693 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,933 | 2,787 |
Current Loans | 875,635 | 509,122 |
Loans evaluated for impairment, ending balance | 883,568 | 511,909 |
Accruing Loans Past Due 90 Days or More | 812 | 317 |
Consumer [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,040 | 659 |
Consumer [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,457 | 179 |
Consumer [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,436 | 1,949 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23,257 | 12,923 |
Current Loans | 2,138,561 | 1,515,080 |
Loans evaluated for impairment, ending balance | 2,161,818 | 1,528,003 |
Accruing Loans Past Due 90 Days or More | 292 | |
Commercial and Industrial [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 520 | 1,835 |
Commercial and Industrial [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 149 | 104 |
Commercial and Industrial [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 22,588 | 10,984 |
Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,575 | 1,868 |
Current Loans | 305,956 | 242,573 |
Loans evaluated for impairment, ending balance | 308,531 | 244,441 |
Agricultural and Other [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,233 | 646 |
Agricultural and Other [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 247 | 3 |
Agricultural and Other [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 1,095 | $ 1,219 |
Allowance for Credit Losses,_11
Allowance for Credit Losses, Credit Quality and Other - Summary of Most Recent Analysis Performed, Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | $ 1,938,005 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,056,368 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,935,133 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,229,865 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 1,019,339 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,432,086 | |
Revolving Loans Amortized Cost Basis | 1,080,674 | |
Loans evaluated for impairment, ending balance | 11,691,470 | $ 10,869,710 |
Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans evaluated for impairment, ending balance | 1,776,689 | |
Commercial Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 463,213 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,153,364 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,031,231 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 725,605 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 667,134 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,596,671 | |
Revolving Loans Amortized Cost Basis | 543,327 | |
Loans evaluated for impairment, ending balance | 6,180,545 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 199,307 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 453,930 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 806,646 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 571,506 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 570,009 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,445,377 | |
Revolving Loans Amortized Cost Basis | 295,366 | |
Loans evaluated for impairment, ending balance | 4,342,141 | 4,412,769 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 248,803 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 689,254 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 217,541 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 146,448 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 87,648 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 117,974 | |
Revolving Loans Amortized Cost Basis | 241,260 | |
Loans evaluated for impairment, ending balance | 1,748,928 | 1,776,689 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 15,103 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 10,180 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,044 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,651 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 9,477 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 33,320 | |
Revolving Loans Amortized Cost Basis | 6,701 | |
Loans evaluated for impairment, ending balance | 89,476 | 88,400 |
Residential Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans evaluated for impairment, ending balance | 2,307,499 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 201,424 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 223,981 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 205,869 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 179,167 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 153,897 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 471,845 | |
Revolving Loans Amortized Cost Basis | 229,445 | |
Loans evaluated for impairment, ending balance | 1,665,628 | 1,819,221 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 17,481 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 61,628 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 207,810 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 76,891 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 11,175 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 109,495 | |
Revolving Loans Amortized Cost Basis | 6,900 | |
Loans evaluated for impairment, ending balance | 491,380 | 488,278 |
Total Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 682,118 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,438,973 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,444,910 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 981,663 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 832,206 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,178,011 | |
Revolving Loans Amortized Cost Basis | 779,672 | |
Loans evaluated for impairment, ending balance | 8,337,553 | 8,585,357 |
Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 195,647 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 220,574 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 173,042 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 110,102 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 77,592 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 84,970 | |
Revolving Loans Amortized Cost Basis | 21,641 | |
Loans evaluated for impairment, ending balance | 883,568 | 511,909 |
Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 892,129 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 371,701 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 310,132 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 130,800 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 89,663 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 104,056 | |
Revolving Loans Amortized Cost Basis | 263,337 | |
Loans evaluated for impairment, ending balance | 2,161,818 | 1,528,003 |
Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 168,111 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 25,120 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,049 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,300 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 19,878 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 65,049 | |
Revolving Loans Amortized Cost Basis | 16,024 | |
Loans evaluated for impairment, ending balance | 308,531 | $ 244,441 |
Risk Rated 1 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 48 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 77 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 7 | |
Revolving Loans Amortized Cost Basis | 208 | |
Loans evaluated for impairment, ending balance | 340 | |
Risk Rated 1 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 3,082 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,822 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,925 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 563 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 875 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,617 | |
Revolving Loans Amortized Cost Basis | 2,030 | |
Loans evaluated for impairment, ending balance | 12,914 | |
Risk Rated 1 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 776,764 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 546 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 312 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 186 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 20,211 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,856 | |
Revolving Loans Amortized Cost Basis | 11,232 | |
Loans evaluated for impairment, ending balance | 811,107 | |
Risk Rated 1 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 72,245 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 53 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 53 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 113 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 29 | |
Revolving Loans Amortized Cost Basis | 1,275 | |
Loans evaluated for impairment, ending balance | 73,768 | |
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Revolving Loans Amortized Cost Basis | 25 | |
Loans evaluated for impairment, ending balance | 25 | |
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 289 | |
Loans evaluated for impairment, ending balance | 289 | |
Risk Rated 2 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 432 | |
Revolving Loans Amortized Cost Basis | 2,151 | |
Loans evaluated for impairment, ending balance | 2,583 | |
Risk Rated 2 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 48 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 937 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 13 | |
Revolving Loans Amortized Cost Basis | 57 | |
Loans evaluated for impairment, ending balance | 1,055 | |
Risk Rated 2 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 19 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 191 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 2,164 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 99 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 89 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 626 | |
Revolving Loans Amortized Cost Basis | 780 | |
Loans evaluated for impairment, ending balance | 3,968 | |
Risk Rated 2 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 16 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 4,570 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,871 | |
Revolving Loans Amortized Cost Basis | 1,262 | |
Loans evaluated for impairment, ending balance | 8,719 | |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 159,847 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 352,054 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 577,635 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 281,226 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 275,179 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,001,965 | |
Revolving Loans Amortized Cost Basis | 277,410 | |
Loans evaluated for impairment, ending balance | 2,925,316 | |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 129,438 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 203,707 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 133,677 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 59,563 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 56,784 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 64,980 | |
Revolving Loans Amortized Cost Basis | 117,032 | |
Loans evaluated for impairment, ending balance | 765,181 | |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 13,956 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 9,284 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 5,824 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,965 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 3,971 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 19,251 | |
Revolving Loans Amortized Cost Basis | 5,957 | |
Loans evaluated for impairment, ending balance | 65,208 | |
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 200,165 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 205,149 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 172,640 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 150,086 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 131,422 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 372,153 | |
Revolving Loans Amortized Cost Basis | 136,601 | |
Loans evaluated for impairment, ending balance | 1,368,216 | |
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 17,132 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 61,312 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 69,283 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 12,482 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 9,248 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 64,128 | |
Revolving Loans Amortized Cost Basis | 3,779 | |
Loans evaluated for impairment, ending balance | 237,364 | |
Risk Rated 3 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 188,948 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 214,688 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 166,579 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 107,948 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 74,370 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 78,045 | |
Revolving Loans Amortized Cost Basis | 19,410 | |
Loans evaluated for impairment, ending balance | 849,988 | |
Risk Rated 3 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 54,201 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 218,623 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 108,914 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 40,497 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 41,506 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 56,822 | |
Revolving Loans Amortized Cost Basis | 135,181 | |
Loans evaluated for impairment, ending balance | 655,744 | |
Risk Rated 3 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 91,754 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 14,478 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 5,381 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,231 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 18,637 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 50,158 | |
Revolving Loans Amortized Cost Basis | 9,196 | |
Loans evaluated for impairment, ending balance | 195,835 | |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 39,007 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 98,914 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 159,567 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 276,311 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 200,136 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 331,714 | |
Revolving Loans Amortized Cost Basis | 17,097 | |
Loans evaluated for impairment, ending balance | 1,122,746 | |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 119,365 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 484,770 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 83,374 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 66,196 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 30,688 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 39,631 | |
Revolving Loans Amortized Cost Basis | 124,228 | |
Loans evaluated for impairment, ending balance | 948,252 | |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 1,147 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 896 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,220 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 686 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 5,506 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 11,981 | |
Revolving Loans Amortized Cost Basis | 744 | |
Loans evaluated for impairment, ending balance | 22,180 | |
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 1,162 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 13,307 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 30,473 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 22,731 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 18,439 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 71,450 | |
Revolving Loans Amortized Cost Basis | 78,723 | |
Loans evaluated for impairment, ending balance | 236,285 | |
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 349 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 316 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 138,527 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 64,409 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 1,927 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 18,917 | |
Revolving Loans Amortized Cost Basis | 3,121 | |
Loans evaluated for impairment, ending balance | 227,566 | |
Risk Rated 4 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 3,601 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,654 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 2,867 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 233 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 744 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,970 | |
Revolving Loans Amortized Cost Basis | 135 | |
Loans evaluated for impairment, ending balance | 12,204 | |
Risk Rated 4 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 60,721 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 148,240 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 153,748 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 67,021 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 15,885 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 37,906 | |
Revolving Loans Amortized Cost Basis | 111,941 | |
Loans evaluated for impairment, ending balance | 595,462 | |
Risk Rated 4 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 4,096 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 6,019 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,615 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,069 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 905 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 9,576 | |
Revolving Loans Amortized Cost Basis | 4,291 | |
Loans evaluated for impairment, ending balance | 27,571 | |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 453 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,102 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 60,960 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,504 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 90,092 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 82,407 | |
Revolving Loans Amortized Cost Basis | 746 | |
Loans evaluated for impairment, ending balance | 244,264 | |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 392 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 20,624 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,217 | |
Loans evaluated for impairment, ending balance | 22,233 | |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 116 | |
Loans evaluated for impairment, ending balance | 116 | |
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,120 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 4,103 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 1,248 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 6,166 | |
Revolving Loans Amortized Cost Basis | 962 | |
Loans evaluated for impairment, ending balance | 13,599 | |
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 26,162 | |
Loans evaluated for impairment, ending balance | 26,162 | |
Risk Rated 5 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 3 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 509 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 201 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 482 | |
Loans evaluated for impairment, ending balance | 1,195 | |
Risk Rated 5 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 200 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 141 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 11,398 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 199 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 714 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 554 | |
Revolving Loans Amortized Cost Basis | 458 | |
Loans evaluated for impairment, ending balance | 13,664 | |
Risk Rated 5 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 605 | |
Loans evaluated for impairment, ending balance | 605 | |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 860 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 8,484 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,465 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 4,602 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 28,739 | |
Revolving Loans Amortized Cost Basis | 88 | |
Loans evaluated for impairment, ending balance | 49,238 | |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 777 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 98 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 64 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 176 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 11,826 | |
Loans evaluated for impairment, ending balance | 12,941 | |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,972 | |
Loans evaluated for impairment, ending balance | 1,972 | |
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 97 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 5,477 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,636 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 2,247 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 2,711 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 21,535 | |
Revolving Loans Amortized Cost Basis | 10,655 | |
Loans evaluated for impairment, ending balance | 44,358 | |
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 288 | |
Loans evaluated for impairment, ending balance | 288 | |
Risk Rated 6 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 16 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 359 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 225 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,358 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 1,402 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,843 | |
Revolving Loans Amortized Cost Basis | 9 | |
Loans evaluated for impairment, ending balance | 6,212 | |
Risk Rated 6 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 222 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 3,956 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 31,042 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 22,797 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 11,244 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 6,228 | |
Revolving Loans Amortized Cost Basis | 3,744 | |
Loans evaluated for impairment, ending balance | 79,233 | |
Risk Rated 6 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2016 | 223 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,810 | |
Loans evaluated for impairment, ending balance | 2,033 | |
Risk Rated 7 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 552 | |
Loans evaluated for impairment, ending balance | 552 | |
Risk Rated 7 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 3 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 2,553 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 64 | |
Loans evaluated for impairment, ending balance | 2,620 | |
Risk Rated 8 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 31 | |
Loans evaluated for impairment, ending balance | 32 | |
Risk Rated 8 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 102 | |
Revolving Loans Amortized Cost Basis | 145 | |
Loans evaluated for impairment, ending balance | 247 | |
Risk Rated 8 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 2 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 14 | |
Revolving Loans Amortized Cost Basis | 1 | |
Loans evaluated for impairment, ending balance | $ 20 |
Allowance for Credit Losses,_12
Allowance for Credit Losses, Credit Quality and Other - Summary of Amortized Cost of Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | $ 1,938,005 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,056,368 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,935,133 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,229,865 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 1,019,339 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,432,086 | |
Revolving Loans Amortized Cost Basis | 1,080,674 | |
Loans evaluated for impairment, ending balance | 11,691,470 | $ 10,869,710 |
Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans evaluated for impairment, ending balance | 1,776,689 | |
Commercial Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 463,213 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,153,364 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,031,231 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 725,605 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 667,134 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,596,671 | |
Revolving Loans Amortized Cost Basis | 543,327 | |
Loans evaluated for impairment, ending balance | 6,180,545 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 199,307 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 453,930 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 806,646 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 571,506 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 570,009 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,445,377 | |
Revolving Loans Amortized Cost Basis | 295,366 | |
Loans evaluated for impairment, ending balance | 4,342,141 | 4,412,769 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 199,307 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 453,930 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 804,352 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 571,177 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 569,848 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,409,044 | |
Revolving Loans Amortized Cost Basis | 295,278 | |
Loans evaluated for impairment, ending balance | 4,302,936 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 2,294 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 329 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 161 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 36,333 | |
Revolving Loans Amortized Cost Basis | 88 | |
Loans evaluated for impairment, ending balance | 39,205 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 248,803 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 689,254 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 217,541 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 146,448 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 87,648 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 117,974 | |
Revolving Loans Amortized Cost Basis | 241,260 | |
Loans evaluated for impairment, ending balance | 1,748,928 | 1,776,689 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 248,803 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 688,477 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 217,517 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 146,383 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 87,490 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 112,830 | |
Revolving Loans Amortized Cost Basis | 241,260 | |
Loans evaluated for impairment, ending balance | 1,742,760 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 777 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 24 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 65 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 158 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 5,144 | |
Loans evaluated for impairment, ending balance | 6,168 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 15,103 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 10,180 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,044 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,651 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 9,477 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 33,320 | |
Revolving Loans Amortized Cost Basis | 6,701 | |
Loans evaluated for impairment, ending balance | 89,476 | 88,400 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 15,103 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 10,180 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,044 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,651 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 9,477 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 32,422 | |
Revolving Loans Amortized Cost Basis | 6,701 | |
Loans evaluated for impairment, ending balance | 88,578 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 898 | |
Loans evaluated for impairment, ending balance | 898 | |
Residential Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans evaluated for impairment, ending balance | 2,307,499 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 201,424 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 223,981 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 205,869 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 179,167 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 153,897 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 471,845 | |
Revolving Loans Amortized Cost Basis | 229,445 | |
Loans evaluated for impairment, ending balance | 1,665,628 | 1,819,221 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 201,263 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 217,949 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 204,313 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 173,652 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 151,629 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 458,290 | |
Revolving Loans Amortized Cost Basis | 222,273 | |
Loans evaluated for impairment, ending balance | 1,629,369 | |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 161 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 6,032 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,556 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 5,515 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 2,268 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 13,555 | |
Revolving Loans Amortized Cost Basis | 7,172 | |
Loans evaluated for impairment, ending balance | 36,259 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 17,481 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 61,628 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 207,810 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 76,891 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 11,175 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 109,495 | |
Revolving Loans Amortized Cost Basis | 6,900 | |
Loans evaluated for impairment, ending balance | 491,380 | 488,278 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 17,481 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 61,628 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 207,810 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 76,891 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 11,175 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 109,319 | |
Revolving Loans Amortized Cost Basis | 6,900 | |
Loans evaluated for impairment, ending balance | 491,204 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 176 | |
Loans evaluated for impairment, ending balance | 176 | |
Total Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 682,118 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,438,973 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,444,910 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 981,663 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 832,206 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,178,011 | |
Revolving Loans Amortized Cost Basis | 779,672 | |
Loans evaluated for impairment, ending balance | 8,337,553 | 8,585,357 |
Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 195,647 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 220,574 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 173,042 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 110,102 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 77,592 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 84,970 | |
Revolving Loans Amortized Cost Basis | 21,641 | |
Loans evaluated for impairment, ending balance | 883,568 | 511,909 |
Consumer [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 195,641 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 220,256 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 172,336 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 109,384 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 77,037 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 82,830 | |
Revolving Loans Amortized Cost Basis | 21,634 | |
Loans evaluated for impairment, ending balance | 879,118 | |
Consumer [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 6 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 318 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 706 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 718 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 555 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,140 | |
Revolving Loans Amortized Cost Basis | 7 | |
Loans evaluated for impairment, ending balance | 4,450 | |
Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 892,129 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 371,701 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 310,132 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 130,800 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 89,663 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 104,056 | |
Revolving Loans Amortized Cost Basis | 263,337 | |
Loans evaluated for impairment, ending balance | 2,161,818 | 1,528,003 |
Commercial and Industrial [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 892,129 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 367,907 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 298,971 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 127,783 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 87,085 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 99,636 | |
Revolving Loans Amortized Cost Basis | 262,177 | |
Loans evaluated for impairment, ending balance | 2,135,688 | |
Commercial and Industrial [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 3,794 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 11,161 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 3,017 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 2,578 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 4,420 | |
Revolving Loans Amortized Cost Basis | 1,160 | |
Loans evaluated for impairment, ending balance | 26,130 | |
Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 168,111 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 25,120 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,049 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,300 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 19,878 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 65,049 | |
Revolving Loans Amortized Cost Basis | 16,024 | |
Loans evaluated for impairment, ending balance | 308,531 | $ 244,441 |
Agricultural and Other [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 168,111 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 25,120 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,049 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 7,300 | |
Term Loans Amortized Cost Basis by Origination Year 2016 | 19,655 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 64,178 | |
Revolving Loans Amortized Cost Basis | 16,024 | |
Loans evaluated for impairment, ending balance | 307,437 | |
Agricultural and Other [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2016 | 223 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 871 | |
Loans evaluated for impairment, ending balance | $ 1,094 |
Allowance for Credit Losses,_13
Allowance for Credit Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($)Contract | Dec. 31, 2019USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 49 | 54 |
Pre-Modification Outstanding Balance | $ 17,101 | $ 20,082 |
Post-Modification Outstanding Balance | 12,416 | 16,254 |
Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 6,240 | 9,373 |
Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,214 | 1,089 |
Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 4,962 | $ 5,792 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 3 |
Pre-Modification Outstanding Balance | $ 17 | $ 39 |
Post-Modification Outstanding Balance | 14 | 27 |
Consumer [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 14 | 24 |
Consumer [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 3 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 14 | 14 |
Pre-Modification Outstanding Balance | $ 11,306 | $ 12,738 |
Post-Modification Outstanding Balance | 9,419 | 11,251 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 4,616 | 6,622 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 388 | 232 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 4,415 | $ 4,397 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 2 | 3 |
Pre-Modification Outstanding Balance | $ 58 | $ 618 |
Post-Modification Outstanding Balance | 20 | 577 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 546 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 9 | 12 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 11 | $ 19 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 2 |
Pre-Modification Outstanding Balance | $ 282 | $ 387 |
Post-Modification Outstanding Balance | 273 | 387 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 273 | $ 387 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 21 | 21 |
Pre-Modification Outstanding Balance | $ 2,733 | $ 2,774 |
Post-Modification Outstanding Balance | 1,840 | 1,999 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,180 | 1,068 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 213 | 227 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 447 | $ 704 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 2 | |
Pre-Modification Outstanding Balance | $ 457 | |
Post-Modification Outstanding Balance | 418 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 128 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 290 | |
Total Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 38 | 42 |
Pre-Modification Outstanding Balance | $ 14,379 | $ 16,974 |
Post-Modification Outstanding Balance | 11,552 | 14,632 |
Total Real Estate [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 6,069 | 8,751 |
Total Real Estate [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 610 | 471 |
Total Real Estate [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 4,873 | $ 5,410 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 10 | 9 |
Pre-Modification Outstanding Balance | $ 2,705 | $ 3,069 |
Post-Modification Outstanding Balance | 850 | 1,595 |
Commercial and Industrial [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 157 | 598 |
Commercial and Industrial [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 604 | 615 |
Commercial and Industrial [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 89 | $ 382 |
Allowance for Credit Losses,_14
Allowance for Credit Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($)Contract | Dec. 31, 2019USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 18 | 18 |
Recorded Balance | $ | $ 1,741 | $ 4,132 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 2 |
Recorded Balance | $ | $ 11 | $ 1,363 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 2 |
Recorded Balance | $ | $ 12 | $ 565 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 2 |
Recorded Balance | $ | $ 273 | $ 387 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 8 | 7 |
Recorded Balance | $ | $ 675 | $ 530 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | |
Recorded Balance | $ | $ 128 | |
Total Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 11 | 14 |
Recorded Balance | $ | $ 971 | $ 2,973 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 7 | 4 |
Recorded Balance | $ | $ 770 | $ 1,159 |
Allowance for Credit Losses,_15
Allowance for Credit Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 819 | $ 3,528 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 3,341 | 3,218 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 162 | 2,397 |
Total Real Estate [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 4,322 | $ 9,143 |
Goodwill and Core Deposits an_3
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 ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Goodwill | |||||
Balance, beginning of period | $ 958,408 | $ 958,408 | |||
Acquisitions | 14,617 | ||||
Balance, end of period | $ 973,025 | $ 958,408 | 973,025 | ||
Core Deposit and Other Intangibles | |||||
Balance, beginning of period | 38,136 | 36,572 | 42,896 | ||
Amortization expense | (1,420) | (1,564) | $ (1,587) | (4,423) | (4,760) |
Balance, end of year | $ 32,149 | $ 36,572 | $ 38,136 | $ 32,149 | $ 38,136 |
Goodwill and Core Deposits an_4
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Gross carrying basis | $ 86,625 | $ 86,625 | ||
Accumulated amortization | (54,476) | (50,053) | ||
Net carrying amount | $ 32,149 | $ 36,572 | $ 38,136 | $ 42,896 |
Goodwill and Core Deposits an_5
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||||
Core deposit and other intangible amortization | $ 1,420 | $ 1,564 | $ 1,587 | $ 4,423 | $ 4,760 | |
Amortization expense for year 2020 | 5,900 | 5,900 | ||||
Amortization expense for year 2021 | 5,700 | 5,700 | ||||
Amortization expense for year 2022 | 5,700 | 5,700 | ||||
Amortization expense for year 2023 | 5,500 | 5,500 | ||||
Amortization expense for year 2024 | 4,300 | 4,300 | ||||
Carrying amount of Company's goodwill | $ 973,025 | $ 958,408 | $ 973,025 | $ 958,408 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule Of Other Assets [Line Items] | ||
Other assets | $ 160,660 | $ 213,845 |
Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("Federal Reserve") [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | 86,600 | 100,000 |
First National Bankers' Bank and Other Miscellaneous Holdings [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | $ 27,900 | $ 27,300 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Deposits [Line Items] | |||||
Time deposits with a minimum denomination of $250,000 | $ 1,000,000 | $ 1,000,000 | $ 1,120,000 | ||
Time deposits with a minimum denomination of $100,000 | 1,320,000 | 1,320,000 | 1,540,000 | ||
Interest expense applicable to certificate | 5,600 | $ 8,500 | 18,800 | $ 23,300 | |
Brokered deposits | 623,600 | 623,600 | 579,700 | ||
Total deposits | 12,937,466 | 12,937,466 | 11,278,383 | ||
State and Political Subdivisions [Member] | |||||
Deposits [Line Items] | |||||
Total deposits | $ 2,130,000 | $ 2,130,000 | $ 2,210,000 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Securities Sold Under Agreements To Repurchase [Abstract] | |||||
Securities sold under agreements to repurchase | $ 158,447 | $ 158,447 | $ 143,727 | ||
Securities sold under agreements to repurchase daily weighted average | $ 157,200 | $ 143,600 | $ 150,000 | $ 146,300 |
Securities Sold Under Agreeme_4
Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 158,447 | $ 143,727 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 158,447 | 143,727 |
U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 10,686 | 22,714 |
U.S. Government-Sponsored Enterprises [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 10,686 | 22,714 |
Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 19,871 | 30,708 |
Mortgage-Backed Securities [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 19,871 | 30,708 |
State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 124,785 | 84,540 |
State and Political Subdivisions [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 124,785 | 84,540 |
Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 3,105 | 5,765 |
Other Securities [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 3,105 | $ 5,765 |
FHLB and Other Borrowed Funds -
FHLB and Other Borrowed Funds - Additional Information (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Borrowed Funds [Line Items] | ||
FHLB borrowed funds | $ 403,400,000 | $ 621,400,000 |
Short-term advances | 75,000,000 | |
Long-term advances | 546,400,000 | |
Other short term borrowings | 0 | 0 |
Maturities of Borrowings, Reminder of 2020 | 3,400,000 | |
Maturities of Borrowings, 2021 | 0 | |
Maturities of Borrowings, 2022 | 0 | |
Maturities of Borrowings, 2023 | 0 | |
Maturities of Borrowings, 2024 | 0 | |
Maturities of Borrowings, after 2024 | 400,000,000 | |
Line of credit | 1,230,000,000 | 1,260,000,000 |
Line of Credit [Member] | ||
Borrowed Funds [Line Items] | ||
Line of credit | 0 | $ 0 |
Credit facility, maximum borrowing capacity | $ 20,000,000 | |
Minimum [Member] | ||
Borrowed Funds [Line Items] | ||
Maturity of FHLB advances | 2020 | |
FHLB interest rate | 1.76% | |
Maximum [Member] | ||
Borrowed Funds [Line Items] | ||
Maturity of FHLB advances | 2033 | |
FHLB interest rate | 2.85% |
Subordinated Debentures - Prefe
Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 370,133 | $ 369,557 |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [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] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 15,464 | 15,464 |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [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] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 16,495 | 16,495 |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 4,439 | 4,402 |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 5,826 | 5,756 |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 299,042 | $ 298,573 |
Subordinated Debentures - Pre_2
Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2006 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 6.75% | 6.75% |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.85% | 1.85% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2004 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 6.00% | 6.00% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.00% | 2.00% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2005 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | Dec. 31, 2035 |
Fixed rate for first five years | 5.84% | 5.84% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.45% | 1.45% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2004 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 4.29% | 4.29% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.50% | 2.50% |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2005 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | Dec. 31, 2035 |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.15% | 2.15% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2006 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 7.38% | 7.38% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.62% | 1.62% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2017 | Dec. 31, 2017 |
Subordinated debentures, due date | Dec. 31, 2027 | Dec. 31, 2027 |
Fixed rate for first five years | 5.625% | 5.625% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 3.575% | 3.575% |
Subordinated debentures, callable year | 2022 | 2022 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) - USD ($) $ in Millions | Apr. 03, 2017 | Sep. 30, 2020 |
Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Face value of company held trust preferred securities | $ 73.3 | |
Trust Preferred Securities [Member] | Stonegate Bank [Member] | ||
Debt Instrument [Line Items] | ||
Trust preferred securities, face amount | 12.5 | |
Trust preferred securities, fair value | $ 9.8 | |
Debt instrument, redemption description | The associated subordinated debentures are redeemable, in whole or in part, prior to maturity at our option on a quarterly basis when interest is due and payable and in whole at any time within 90 days following the occurrence and continuation of certain changes in the tax treatment or capital treatment of the debentures. | |
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Trust preferred securities, face amount | $ 300 | |
Subordinated debt issuance date | Apr. 3, 2017 | |
Subordinated notes, Interest rate | 5.625% | |
Net proceeds from subordinated debt issuance, after underwriting discounts | $ 297 | |
Subordinated notes, Maturity date | Apr. 15, 2027 | |
Notes issued, Interest rate terms | From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero | |
Percentage of redemption price on principal | 100.00% | |
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
LIBOR plus rate, Percentage | 3.575% |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Current: | ||||
Federal | $ 14,344 | $ 16,618 | $ 51,273 | $ 39,844 |
State | 4,748 | 5,501 | 16,973 | 13,190 |
Total current | 19,092 | 22,119 | 68,246 | 53,034 |
Deferred: | ||||
Federal | 1,476 | 3,817 | (23,189) | 14,906 |
State | 489 | 1,263 | (7,677) | 4,934 |
Total deferred | 1,965 | 5,080 | (30,866) | 19,840 |
Income tax (benefit) expense | $ 21,057 | $ 27,199 | $ 37,380 | $ 72,874 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2017 | |
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract] | |||||
Statutory federal income tax rate | 21.00% | 21.00% | 21.00% | 21.00% | 35.00% |
Effect of non-taxable interest income | (1.03%) | (0.78%) | (1.48%) | (0.82%) | |
Stock compensation | 1.17% | 0.11% | 0.53% | 0.10% | |
State income taxes, net of federal benefit | 3.82% | 3.33% | 3.00% | 3.77% | |
Executive officer compensation & other | (1.66%) | 3.55% | (1.07%) | 1.15% | |
Effective income tax rate | 23.30% | 27.21% | 21.98% | 25.20% |
Income Taxes - Differences Betw
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Deferred tax assets: | ||
Allowance for credit losses | $ 72,846 | $ 25,829 |
Deferred compensation | 3,932 | 4,416 |
Stock compensation | 4,838 | 5,960 |
Non-accrual interest income | 833 | |
Real estate owned | 792 | 1,080 |
Loan discounts | 7,676 | 11,996 |
Tax basis premium/discount on acquisitions | 5,556 | 6,921 |
Investments | 603 | 327 |
Deposits | (25) | |
Other | 6,817 | 8,940 |
Gross deferred tax assets | 103,868 | 65,469 |
Deferred tax liabilities: | ||
Accelerated depreciation on premises and equipment | 2,052 | 1,417 |
Unrealized gain on securities available-for-sale | 11,912 | 5,717 |
Core deposit intangibles | 7,386 | 8,419 |
FHLB dividends | 2,711 | 2,608 |
Other | 4,640 | 3,007 |
Gross deferred tax liabilities | 28,701 | 21,168 |
Net deferred tax assets | $ 75,167 | $ 44,301 |
Common Stock, Compensation Pl_3
Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock, shares authorized | 300,000,000 | 300,000,000 | ||||
Common stock, par value | $ 0.01 | $ 0.01 | ||||
Preferred stock, shares authorized | 5,500,000 | |||||
Preferred stock, par value | $ 0.01 | |||||
Number of shares repurchased during period | 1,423,560 | 615,000 | 700,363 | 2,716,359 | 1,423,560 | |
Weighted average stock price | $ 16.73 | |||||
Remaining balance available for repurchase | 3,953,665 | |||||
Repurchase of combining of all the shares | 15,798,335 | |||||
Maximum number of shares available for grants under the plan | 13,288,000 | |||||
Remaining shares of common stock available for future grants | 1,723,000 | |||||
Shares of common stock reserved for issuance | 5,040,000 | |||||
Intrinsic value of stock options outstanding | $ 2,200,000 | |||||
Intrinsic value of stock options exercised | 32,000 | |||||
Unrecognized compensation cost net of income tax benefit, related to non-vested awards | $ 8,400,000 | |||||
Options granted during the period | 0 | 55,000 | ||||
Weighted average fair value of options granted (split adjusted) | $ 4.11 | |||||
Restricted Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | $ 19,500,000 |
Common Stock, Compensation Pl_4
Common Stock, Compensation Plans and Other - Summary of Stock Option Transactions under Plan (Detail) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Outstanding, beginning of year | 3,411,000 | 3,617,000 |
Granted Shares | 0 | 55,000 |
Forfeited/Expired Shares | (71,000) | (163,000) |
Exercised Shares | (23,000) | (98,000) |
Outstanding, end of year | 3,317,000 | 3,411,000 |
Exercisable, end of year | 1,589,000 | 1,353,000 |
Outstanding Weighted Average Exercisable Price, beginning of year | $ 19.60 | $ 19.62 |
Weighted Average Exercisable Price, Granted | 19.15 | |
Weighted Average Exercisable Price, Forfeited/Expired | 21.85 | 22.43 |
Weighted Average Exercisable Price, Exercised | 18.46 | 15.21 |
Outstanding Weighted Average Exercisable Price, end of year | 19.56 | 19.60 |
Exercisable Weighted Average Exercisable Price, end of year | $ 16.46 | $ 16.03 |
Common Stock, Compensation Pl_5
Common Stock, Compensation Plans and Other - Summary of Stock Options on Valuation Assumptions (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | |
Expected dividend yield | 2.70% |
Expected stock price volatility | 26.13% |
Risk-free interest rate | 2.48% |
Expected life of options | 6 years 6 months |
Common Stock, Compensation Pl_6
Common Stock, Compensation Plans and Other - Summary of Currently Outstanding and Exercisable Options (Detail) | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Options Outstanding Shares | shares | 3,317 |
Options Exercisable Shares | shares | 1,589 |
Exercise Prices Range 6.56 to $8.62 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | $ 6.56 |
Exercise Prices, Upper Range Limit | $ 8.62 |
Options Outstanding Shares | shares | 213 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 1 year 11 months 15 days |
Options outstanding Weighted- Average Exercise Price | $ 7.91 |
Options Exercisable Shares | shares | 213 |
Options Exercisable Weighted- Average Exercise Price | $ 7.91 |
Exercise Prices Range $9.54 to $14.71 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 9.54 |
Exercise Prices, Upper Range Limit | $ 14.71 |
Options Outstanding Shares | shares | 205 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 4 months 24 days |
Options outstanding Weighted- Average Exercise Price | $ 12.06 |
Options Exercisable Shares | shares | 205 |
Options Exercisable Weighted- Average Exercise Price | $ 12.06 |
Exercise Prices Range $16.77 to $16.86 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 16.77 |
Exercise Prices, Upper Range Limit | $ 16.86 |
Options Outstanding Shares | shares | 152 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 10 months 2 days |
Options outstanding Weighted- Average Exercise Price | $ 16.80 |
Options Exercisable Shares | shares | 152 |
Options Exercisable Weighted- Average Exercise Price | $ 16.80 |
Exercise Prices Range $17.12 to $17.36 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 17.12 |
Exercise Prices, Upper Range Limit | $ 17.36 |
Options Outstanding Shares | shares | 125 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 4 years 5 months 23 days |
Options outstanding Weighted- Average Exercise Price | $ 17.13 |
Options Exercisable Shares | shares | 125 |
Options Exercisable Weighted- Average Exercise Price | $ 17.13 |
Exercise Prices Range $17.40 to $18.46 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 17.40 |
Exercise Prices, Upper Range Limit | $ 18.46 |
Options Outstanding Shares | shares | 938 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 4 years 10 months 17 days |
Options outstanding Weighted- Average Exercise Price | $ 18.45 |
Options Exercisable Shares | shares | 672 |
Options Exercisable Weighted- Average Exercise Price | $ 18.45 |
Exercise Prices Range $18.50 to $20.16 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 18.50 |
Exercise Prices, Upper Range Limit | $ 20.16 |
Options Outstanding Shares | shares | 63 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 8 years 29 days |
Options outstanding Weighted- Average Exercise Price | $ 19.21 |
Options Exercisable Shares | shares | 19 |
Options Exercisable Weighted- Average Exercise Price | $ 19.53 |
Exercise Prices Range $20.58 to $21.25 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 20.58 |
Exercise Prices, Upper Range Limit | $ 21.25 |
Options Outstanding Shares | shares | 160 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 5 years 5 months 1 day |
Options outstanding Weighted- Average Exercise Price | $ 21.08 |
Options Exercisable Shares | shares | 119 |
Options Exercisable Weighted- Average Exercise Price | $ 21.12 |
Exercise Prices Range $21.31 to $22.22 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 21.31 |
Exercise Prices, Upper Range Limit | $ 22.22 |
Options Outstanding Shares | shares | 100 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 6 months 18 days |
Options outstanding Weighted- Average Exercise Price | $ 22.22 |
Options Exercisable Shares | shares | 40 |
Options Exercisable Weighted- Average Exercise Price | $ 22.22 |
Exercise Prices Range $22.70 to $23.32 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 22.70 |
Exercise Prices, Upper Range Limit | $ 23.32 |
Options Outstanding Shares | shares | 1,279 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 9 months 21 days |
Options outstanding Weighted- Average Exercise Price | $ 23.32 |
Options Exercisable Shares | shares | 1 |
Options Exercisable Weighted- Average Exercise Price | $ 22.70 |
Exercise Prices Range $23.51 to $25.96 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 23.51 |
Exercise Prices, Upper Range Limit | $ 25.96 |
Options Outstanding Shares | shares | 82 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 8 months 26 days |
Options outstanding Weighted- Average Exercise Price | $ 25.60 |
Options Exercisable Shares | shares | 43 |
Options Exercisable Weighted- Average Exercise Price | $ 25.90 |
Common Stock, Compensation Pl_7
Common Stock, Compensation Plans and Other - Summary of Company's Restricted Stock Issued and Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Beginning of year | 1,636 | 1,873 |
Issued | 264 | 181 |
Vested | (367) | (340) |
Forfeited | (74) | (78) |
End of year | 1,459 | 1,636 |
Amount of expense for nine months and twelve months ended, respectively | $ 5,095 | $ 8,427 |
Non-Interest Expense - Componen
Non-Interest Expense - Components of Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Changes in Noncontrolling Interest [Line Items] | |||||
Salaries and employee benefits | $ 41,511 | $ 39,919 | $ 120,928 | $ 115,731 | |
Occupancy and equipment | 9,566 | 9,047 | 28,611 | 26,723 | |
Data processing expense | 4,921 | 4,059 | 13,861 | 11,867 | |
Other operating expenses: | |||||
Advertising | 902 | 1,201 | 2,923 | 3,347 | |
Merger and acquisition expenses | 711 | ||||
Amortization of intangibles | 1,420 | $ 1,564 | 1,587 | 4,423 | 4,760 |
Electronic banking expense | 2,426 | 1,901 | 6,195 | 5,655 | |
Directors’ fees | 429 | 380 | 1,265 | 1,206 | |
Due from bank service charges | 259 | 272 | 721 | 792 | |
FDIC and state assessment | 1,607 | (532) | 5,001 | 2,833 | |
Other expense | 3,900 | 4,792 | 12,757 | 14,781 | |
Insurance | 766 | 698 | 2,223 | 2,056 | |
Legal and accounting | 1,235 | 1,414 | 3,432 | 3,384 | |
Other professional fees | 1,661 | 1,906 | 6,622 | 7,024 | |
Operating supplies | 460 | 511 | 1,548 | 1,552 | |
Postage | 328 | 320 | 968 | 939 | |
Telephone | 321 | 289 | 955 | 898 | |
Unfunded commitments | 16,989 | ||||
Total other operating expenses | 15,714 | 14,739 | 66,733 | 50,124 | |
Total non-interest expense | $ 71,712 | $ 67,764 | $ 230,133 | 204,445 | |
Hurricane Expense [Member] | |||||
Other operating expenses: | |||||
Other expense | $ 897 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Right of use asset | $ 41,100,000 | $ 41,100,000 | |
Lease liability | 43,918,000 | 43,918,000 | $ 47,005,000 |
Lease rent expense | $ 27,000 | $ 89,000 | |
Lease expense rate | 1.17% | 1.29% |
Leases - Minimum Rental Commitm
Leases - Minimum Rental Commitment under Operating Leases (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Remainder of fiscal year | $ 2,300 | |
Year 1 | 8,180 | $ 7,740 |
Year 2 | 6,434 | 6,774 |
Year 3 | 5,700 | 5,336 |
Year 4 | 5,241 | 4,760 |
After Year 4 | 32,191 | |
Year 5 | 4,328 | |
Thereafter | 28,260 | |
Total future minimum lease payments | 60,046 | 57,198 |
Discount effect of cash flows | (16,128) | (10,193) |
Present value of net future minimum lease payments | $ 43,918 | $ 47,005 |
Leases - Additional Informati_2
Leases - Additional Information of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Lease expense: | ||||
Operating lease expense | $ 2,044 | $ 2,057 | $ 6,085 | $ 6,176 |
Short-term lease expense | 9 | 29 | 41 | 82 |
Variable lease expense | 253 | 245 | 772 | 724 |
Total lease expense | 2,306 | 2,331 | 6,898 | 6,982 |
Other information: | ||||
Cash paid for amounts included in the measurement of lease liabilities | $ 2,021 | $ 2,002 | $ 6,013 | $ 5,939 |
Weighted-average remaining lease term (in years) | 10 years 29 days | 10 years 8 months 1 day | 10 years 2 months 15 days | 10 years 9 months 10 days |
Weighted-average discount rate | 3.60% | 3.62% | 3.61% | 3.62% |
Significant Estimates and Con_2
Significant Estimates and Concentrations of Credit Risks - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020USD ($) | Sep. 30, 2020USD ($)LoanContract | Sep. 30, 2019USD ($) | Dec. 31, 2019Contract | |
Commitment And Contingencies [Line Items] | ||||
Provision for loan losses expensed | $ 14,000 | $ 102,113 | $ 1,325 | |
Number of Loans | Contract | 49 | 54 | ||
Increase in allowance for credit losses | $ 248,200 | |||
Unfunded commitments | 16,989 | |||
COVID-19 [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Provision for loan losses expensed | 14,000 | 88,100 | ||
Payment Deferral [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Loan deferrals | $ 933,800 | $ 933,800 | ||
Number of Loans | Loan | 330 | |||
Loans Receivable [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 74.00% | |||
Loans Receivable [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 52.90% | 57.80% | ||
Loans Receivable [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 18.40% | 21.20% | ||
Total Stockholders' Equity [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 243.30% | 250.00% | ||
Total Stockholders' Equity [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 84.90% | 91.90% | ||
Residential Real Estate Loans [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||||
Commitment And Contingencies [Line Items] | ||||
Concentration percentage | 77.60% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Commitments And Contingencies Disclosure [Abstract] | ||
Commitments to extend credit outstanding | $ 2,870,000,000 | $ 2,770,000,000 |
Maximum amount of future payments by the company | $ 61,800,000 | $ 58,900,000 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Thousands | 9 Months Ended | ||||||
Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 01, 2019 | Jan. 01, 2017 | Jan. 01, 2016 | Jul. 31, 2013USD ($) | Dec. 31, 2009USD ($) | |
Regulatory Matters [Line Items] | |||||||
Percentage of retained earnings plus current year earnings to be paid as maximum dividend | 75.00% | ||||||
Requested dividend by the company from its subsidiary | $ 128,400 | ||||||
Description of Regulatory Assets and Liabilities | 15 billion | ||||||
Assets | $ 16,549,758 | $ 15,032,047 | |||||
Basel III [Member] | |||||||
Regulatory Matters [Line Items] | |||||||
Consolidated risk weighted asset | $ 500,000 | ||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.025 | ||||||
Capital conservation buffer, percentage | 0.00625 | ||||||
Increase in capital conservation buffer | 0.00625 | ||||||
Capital conservation buffer phase in period start date | Jan. 1, 2016 | ||||||
Capital conservation buffer phase in period end date | Jan. 1, 2019 | ||||||
Capital requirement, Ratio | 0.025 | ||||||
Description of Regulatory Assets and Liabilities | 15 billion | ||||||
Assets | $ 15,000,000 | ||||||
Basel III [Member] | Criteria 1 [Member] | |||||||
Regulatory Matters [Line Items] | |||||||
Tier 1 leverage capital ratio | 0.04 | ||||||
Tier 1 risk-based capital ratio | 0.045 | ||||||
Risk-based capital ratio | 0.06 | ||||||
Risk-based capital ratio | 0.08 | ||||||
Basel III [Member] | Criteria 2 [Member] | |||||||
Regulatory Matters [Line Items] | |||||||
Risk-based capital ratio | 0.1690 | ||||||
Common equity Tier 1 risk-based capital ratio | 0.065 | ||||||
Tier 1 leverage capital ratio | 0.05 | ||||||
Tier 1 risk-based capital ratio | 0.08 | ||||||
Total risk-based capital ratio | 0.10 | ||||||
Common equity Tier 1 risk-based capital ratio | 0.1264 | ||||||
Tier 1 leverage capital ratio | 0.1040 | ||||||
Tier 1 risk-based capital ratio | 0.1322 |
Additional Cash Flow Informat_3
Additional Cash Flow Information - Additional Information (Detail) - LH-Finance [Member] - USD ($) $ in Millions | Feb. 29, 2020 | Sep. 30, 2020 |
Supplemental Cash Flow Information [Line Items] | ||
Business combination, recognized identifiable assets acquired, Total Assets | $ 409.1 | $ 409.1 |
Cash paid for acquisition | 421.2 | 421.2 |
Business combination, recognized identifiable liabilities assumed, Loans | $ 407.4 | $ 407.4 |
Additional Cash Flow Informat_4
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Additional Cash Flow Elements And Supplemental Cash Flow Information [Abstract] | ||
Interest paid | $ 72,909 | $ 115,361 |
Income taxes paid | 54,698 | 67,787 |
Assets acquired by foreclosure | $ 1,673 | $ 6,765 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Carrying value of foreclosed assets held for sale | $ 112,000 | $ 112,000 | |||
Disposal group, not discontinued operation, loss (gain) on write-down | $ 112,000 | ||||
Minimum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 20.00% | ||||
Maximum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 50.00% | ||||
Fair Value, Level 3 Inputs [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value of loans with specific allocated losses | 102,300,000 | $ 102,300,000 | $ 74,200,000 | ||
Accrued interest receivable reversed | 388,000 | $ 136,000 | 811,000 | $ 617,000 | |
Fair value of foreclosed assets held for sale | $ 4,300,000 | $ 4,300,000 | $ 9,100,000 |
Financial Instruments - Estimat
Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Federal funds purchased | $ 5,000 | |
Fair Value, Inputs, Level 1 [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 1,043,337 | 490,601 |
Accrued interest receivable | 72,599 | 45,086 |
Demand and non-interest bearing | 3,207,967 | 2,367,091 |
Savings and interest-bearing transaction accounts | 8,011,200 | 6,933,964 |
Federal funds purchased | 5,000 | |
Securities sold under agreements to repurchase | 158,447 | 143,727 |
Accrued interest payable | 10,968 | 8,001 |
Fair Value, Inputs, Level 1 [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 1,043,337 | 490,601 |
Accrued interest receivable | 72,599 | 45,086 |
Demand and non-interest bearing | 3,207,967 | 2,367,091 |
Savings and interest-bearing transaction accounts | 8,011,200 | 6,933,964 |
Federal funds purchased | 5,000 | |
Securities sold under agreements to repurchase | 158,447 | 143,727 |
Accrued interest payable | 10,968 | 8,001 |
Fair Value, Inputs, Level 2 [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
FHLB and other borrowed funds | 403,428 | 621,439 |
Fair Value, Inputs, Level 2 [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
FHLB and other borrowed funds | 431,667 | 621,742 |
Fair Value, Level 3 Inputs [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 11,340,937 | 10,693,391 |
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments | 114,484 | 127,267 |
Time deposits | 1,718,299 | 1,977,328 |
Subordinated debentures | 370,133 | 369,557 |
Fair Value, Level 3 Inputs [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 11,726,241 | 10,680,071 |
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments | 114,484 | 127,267 |
Time deposits | 1,738,863 | 1,991,120 |
Subordinated debentures | $ 380,006 | $ 380,237 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Allowance for loan losses | $ 248,224 | $ 238,340 | $ 102,122 | $ 104,304 | $ 108,791 | |
Adjustment to retained earnings, net of tax | $ 980,699 | 956,555 | ||||
Accounting Standards Update 2016-13 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Allowance for loan losses | $ 146,100 | |||||
Adjustment to retained earnings, net of tax | 32,500 | |||||
Reserve for unfunded commitments recognized | 15,500 | |||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Adjustment to retained earnings, net of tax | 11,500 | |||||
Reserve for unfunded commitments recognized | 15,500 | |||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Allowance for loan losses | $ 43,988 | $ 43,988 | ||||
Accounting Standards Update 2017-04 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2018-13 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2018-15 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2019-01 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2019-04 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2019-05 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true | |||||
Accounting Standards Update 2019-11 [Member] | ||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | |||||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | |||||
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |