Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 29, 2013 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SVFB | |
Entity Common Stock, Shares Outstanding | 7,076,347 | |
Entity Registrant Name | ServisFirst Bancshares, Inc. | |
Entity Central Index Key | 1430723 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $71,833 | $58,031 |
Interest-bearing balances due from depository institutions | 185,657 | 119,423 |
Federal funds sold | 7,923 | 3,291 |
Cash and cash equivalents | 265,413 | 180,745 |
Available for sale debt securities, at fair value | 256,385 | 233,877 |
Held to maturity debt securities (fair value of $32,671 and $27,350 at September 30, 2013 and December 31, 2012, respectively) | 33,130 | 25,967 |
Restricted equity securities | 3,738 | 3,941 |
Mortgage loans held for sale | 11,592 | 25,826 |
Loans | 2,731,973 | 2,363,182 |
Less allowance for loan losses | -28,927 | -26,258 |
Loans, net | 2,703,046 | 2,336,924 |
Premises and equipment, net | 8,518 | 8,847 |
Accrued interest and dividends receivable | 9,604 | 9,158 |
Deferred tax assets | 9,160 | 7,386 |
Other real estate owned and repossessed assets | 14,258 | 9,873 |
Bank owned life insurance contracts | 68,460 | 57,014 |
Other assets | 12,849 | 6,756 |
Total assets | 3,396,153 | 2,906,314 |
Deposits: | ||
Noninterest-bearing | 635,153 | 545,174 |
Interest-bearing | 2,284,064 | 1,966,398 |
Total deposits | 2,919,217 | 2,511,572 |
Federal funds purchased | 170,090 | 117,065 |
Other borrowings | 19,932 | 19,917 |
Trust preferred securities | 0 | 15,050 |
Accrued interest and dividends payable | 4,553 | 942 |
Other liabilities | 6,061 | 8,511 |
Total liabilities | 3,119,853 | 2,673,057 |
Stockholders' equity: | ||
Common stock, par value $.001 per share; 15,000,000 shares authorized; 7,076,347 shares issued and outstanding at September 30, 2013 and 6,268,812 shares issued and outstanding at December 31, 2012 | 7 | 6 |
Additional paid-in capital | 113,441 | 93,505 |
Retained earnings | 118,391 | 92,492 |
Accumulated other comprehensive income | 4,503 | 7,296 |
Total stockholders' equity | 276,300 | 233,257 |
Total liabilities and stockholders' equity | 3,396,153 | 2,906,314 |
Series A Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock | 39,958 | 39,958 |
Undesignated Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock | $0 | $0 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Held to maturity debt securities, fair value | $32,671 | $27,350 |
Common stock, par value | $0.00 | $0.00 |
Common Stock Shares Authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 7,076,347 | 6,268,812 |
Common stock, shares outstanding | 7,076,347 | 6,268,812 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, liquidation preference | $1,000 | $1,000 |
Preferred stock, authorized | 40,000 | 40,000 |
Preferred stock, shares issued | 40,000 | 40,000 |
Preferred stock, shares outstanding | 40,000 | 40,000 |
Undesignated Preferred Stock [Member] | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, undesignated | 960,000 | 960,000 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income: | ||||
Interest and fees on loans | $30,475 | $25,609 | $86,667 | $73,372 |
Taxable securities | 980 | 1,189 | 2,851 | 3,828 |
Nontaxable securities | 858 | 827 | 2,537 | 2,423 |
Federal funds sold | 44 | 50 | 77 | 145 |
Other interest and dividends | 142 | 68 | 224 | 200 |
Total interest income | 32,499 | 27,743 | 92,356 | 79,968 |
Interest expense: | ||||
Deposits | 3,131 | 3,079 | 8,628 | 9,229 |
Borrowed funds | 403 | 616 | 1,381 | 2,048 |
Total interest expense | 3,534 | 3,695 | 10,009 | 11,277 |
Net interest income | 28,965 | 24,048 | 82,347 | 68,691 |
Provision for loan losses | 3,034 | 1,185 | 10,652 | 6,651 |
Net interest income after provision for loan losses | 25,931 | 22,863 | 71,695 | 62,040 |
Noninterest income: | ||||
Service charges on deposit accounts | 823 | 666 | 2,391 | 1,986 |
Mortgage banking | 402 | 865 | 2,154 | 2,701 |
Securities gains | 0 | 0 | 131 | 0 |
Increase in cash surrender value life insurance | 491 | 386 | 1,446 | 1,161 |
Other operating income | 553 | 443 | 1,517 | 1,209 |
Total noninterest income | 2,269 | 2,360 | 7,639 | 7,057 |
Noninterest expenses: | ||||
Salaries and employee benefits | 7,048 | 5,697 | 19,783 | 16,110 |
Equipment and occupancy expense | 1,272 | 988 | 3,852 | 2,884 |
Professional services | 443 | 322 | 1,329 | 960 |
FDIC and other regulatory assessments | 405 | 409 | 1,263 | 1,155 |
OREO expense | 357 | 1,159 | 951 | 1,832 |
Other operating expenses | 2,542 | 2,696 | 8,013 | 7,256 |
Total noninterest expenses | 12,067 | 11,271 | 35,191 | 30,197 |
Income before income taxes | 16,133 | 13,952 | 44,143 | 38,900 |
Provision for income taxes | 5,321 | 4,650 | 14,394 | 13,011 |
Net income | 10,812 | 9,302 | 29,749 | 25,889 |
Preferred stock dividends | 100 | 100 | 300 | 300 |
Net income available to common stockholders | $10,712 | $9,202 | $29,449 | $25,589 |
Basic earnings per common share | $1.53 | $1.53 | $4.35 | $4.28 |
Diluted earnings per common share | $1.46 | $1.35 | $4.10 | $3.75 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $10,812 | $9,302 | $29,749 | $25,889 |
Other comprehensive income (loss), net of tax: | ||||
Unrealized holding gains (losses) arising during period from securities available for sale, net of tax of $199 and $(1,458) for the three and nine months ended September 30, 2013, respectively, and $348 and $525 for the three and nine months ended September 30, 2012, respectively | 369 | 646 | -2,708 | 1,316 |
Reclassification adjustment for net gains on sale of securities in net income, net of tax of $46 for the nine months ended September 30, 2013 | 0 | 0 | -85 | 0 |
Other comprehensive income (loss), net of tax | 369 | 646 | -2,793 | 1,316 |
Comprehensive income | $11,181 | $9,948 | $26,956 | $27,205 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Unrealized holding gains arising during period from securities available for sale | $199 | $348 | ($1,458) | $525 |
Reclassification adjustment for net gains on sale of securities in net income | $46 |
CONSOLIDATED_STATEMENT_OF_STOC
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||
Begining Balance at Dec. 31, 2011 | $196,292 | $39,958 | $6 | $87,805 | $61,581 | $6,942 |
Preferred dividends paid | -300 | 0 | 0 | 0 | -300 | 0 |
Exercise of stock options, including tax benefit | 1,021 | 0 | 0 | 1,021 | 0 | 0 |
Other comprehensive income | 1,316 | 0 | 0 | 0 | 0 | 1,316 |
Stock-based compensation expense | 788 | 0 | 0 | 788 | 0 | 0 |
Net income | 25,889 | 0 | 0 | 0 | 25,889 | 0 |
Ending Balance at Sep. 30, 2012 | 225,006 | 39,958 | 6 | 89,614 | 87,170 | 8,258 |
Begining Balance at Dec. 31, 2012 | 233,257 | 39,958 | 6 | 93,505 | 92,492 | 7,296 |
Dividends paid | -12 | 0 | 0 | 0 | -12 | 0 |
Dividends declared | -3,538 | 0 | 0 | 0 | -3,538 | 0 |
Preferred dividends paid | -300 | 0 | 0 | 0 | -300 | 0 |
Exercise of stock options, including tax benefit | 2,632 | 0 | 0 | 2,632 | 0 | 0 |
Issuance of 600,000 shares upon mandatory conversion of subordinated mandatorily convertible debentures | 15,000 | 0 | 1 | 14,999 | 0 | 0 |
Common stock issued | 1,416 | 0 | 0 | 1,416 | 0 | 0 |
Other comprehensive income | -2,793 | 0 | 0 | 0 | 0 | -2,793 |
Stock-based compensation expense | 889 | 0 | 0 | 889 | 0 | 0 |
Net income | 29,749 | 0 | 0 | 0 | 29,749 | 0 |
Ending Balance at Sep. 30, 2013 | $276,300 | $39,958 | $7 | $113,441 | $118,391 | $4,503 |
CONSOLIDATED_STATEMENT_OF_STOC1
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options Exercised, Shares | 113,500 | 74,036 |
Conversion of Stock, Shares Issued | 600,000 | |
Deferred Tax Expense from Stock Options Exercised | $243 | $127 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ||
Net income | $29,749 | $25,889 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Deferred tax benefit | -270 | -1,602 |
Provision for loan losses | 10,652 | 6,651 |
Depreciation and amortization | 1,356 | 911 |
Net amortization of investments | 712 | 789 |
Market value adjustment of interest rate cap | 0 | 9 |
Increase in accrued interest and dividends receivable | -446 | -996 |
Stock-based compensation expense | 889 | 788 |
Increase (decrease) in accrued interest payable | 73 | -78 |
Proceeds from sale of mortgage loans held for sale | 159,266 | 176,753 |
Originations of mortgage loans held for sale | -143,523 | -184,706 |
Gain on sale of securities available for sale | -131 | 0 |
Gain on sale of mortgage loans held for sale | -2,199 | -2,746 |
Net loss on sale of other real estate owned | 135 | 88 |
Write down of other real estate owned | 402 | 1,424 |
Decrease in special prepaid FDIC insurance assessments | 2,498 | 972 |
Increase in cash surrender value of life insurance contracts | -1,446 | -1,161 |
Excess tax benefits from exercise of warrants | -248 | 0 |
Net change in other assets, liabilities, and other operating activities | -3,186 | -401 |
Net cash provided by operating activities | 54,283 | 22,584 |
INVESTMENT ACTIVITIES | ||
Purchase of securities available for sale | -66,120 | -34,040 |
Proceeds from maturities, calls and paydowns of securities available for sale | 38,734 | 92,021 |
Purchase of securities held to maturity | -10,668 | -6,005 |
Proceeds from maturities, calls and paydowns of securities held to maturity | 3,505 | 423 |
Increase in loans | -386,247 | -335,877 |
Purchase of premises and equipment | -1,027 | -2,195 |
Purchase of restricted equity securities | 0 | -787 |
Purchase of bank-owned life insurance contracts | -10,000 | 0 |
Proceeds from sale of restricted equity securities | 203 | 347 |
Proceeds from sale of other real estate owned and repossessions | 5,258 | 2,534 |
Investment in tax credit partnerships | -7,907 | 0 |
Net cash used in investing activities | -434,269 | -283,579 |
FINANCING ACTIVITIES | ||
Net increase in noninterest-bearing deposits | 89,979 | 94,152 |
Net increase in interest-bearing deposits | 317,666 | 171,482 |
Net increase in federal funds purchased | 53,025 | 12,052 |
Proceeds from sale of common stock, net | 1,416 | 0 |
Proceeds from exercise of stock options and warrants | 2,632 | 1,021 |
Excess tax benefits from exercise of warrants | 248 | 0 |
Repayment of other borrowings | 0 | -5,000 |
Dividends paid on common stock | -12 | 0 |
Dividends paid on preferred stock | -300 | -300 |
Net cash provided by financing activities | 464,654 | 273,407 |
Net increase in cash and cash equivalents | 84,668 | 12,412 |
Cash and cash equivalents at beginning of year | 180,745 | 242,933 |
Cash and cash equivalents at end of year | 265,413 | 255,345 |
Cash paid for: | ||
Interest | 9,936 | 11,355 |
Income taxes | 15,488 | 12,203 |
NONCASH TRANSACTIONS | ||
Conversion of mandatorily convertible subordinated debentures | 15,000 | 0 |
Transfers of loans from held for sale to held for investment | 690 | 0 |
Other real estate acquired in settlement of loans | 10,163 | 1,436 |
Internally financed sales of other real estate owned | 0 | 24 |
Dividends declared | $3,538 | $0 |
GENERAL
GENERAL | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
GENERAL | NOTE 1 - GENERAL |
The accompanying consolidated financial statements in this report have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, including Regulation S-X and the instructions for Form 10-Q, and have not been audited. These consolidated financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. In the opinion of management, all adjustments necessary to present fairly the consolidated financial position and the consolidated results of operations for the interim periods have been made. All such adjustments are of a normal nature. The consolidated results of operations are not necessarily indicative of the consolidated results of operations which ServisFirst Bancshares, Inc. (the “Company”) may achieve for future interim periods or the entire year. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Form 10-K for the year ended December 31, 2012. | |
All reported amounts are in thousands except share and per share data. | |
CASH_AND_CASH_EQUIVALENTS
CASH AND CASH EQUIVALENTS | 9 Months Ended |
Sep. 30, 2013 | |
Cash and Cash Equivalents [Abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 2 - CASH AND CASH EQUIVALENTS |
Cash on hand, cash items in process of collection, amounts due from banks, and federal funds sold are included in cash and cash equivalents. | |
EARNINGS_PER_COMMON_SHARE
EARNINGS PER COMMON SHARE | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||
EARNINGS PER COMMON SHARE | NOTE 3 - EARNINGS PER COMMON SHARE | |||||||||||||
Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants. | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(In Thousands, Except Shares and Per Share Data) | ||||||||||||||
Earnings per common share | ||||||||||||||
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 | ||||||||||
Net income available to common stockholders | $ | 10,712 | $ | 9,202 | $ | 29,449 | $ | 25,589 | ||||||
Basic earnings per common share | $ | 1.53 | $ | 1.53 | $ | 4.35 | $ | 4.28 | ||||||
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 | ||||||||||
Dilutive effects of assumed conversions and | 302,842 | 942,187 | 437,840 | 954,088 | ||||||||||
exercise of stock options and warrants | ||||||||||||||
Weighted average common and dilutive potential | 7,321,911 | 6,947,429 | 7,206,518 | 6,931,678 | ||||||||||
common shares outstanding | ||||||||||||||
Net income available to common stockholders | $ | 10,712 | $ | 9,202 | $ | 29,449 | $ | 25,589 | ||||||
Effect of interest expense on convertible debt, net of tax and | - | 143 | - | 426 | ||||||||||
discretionary expenditures related to conversion | ||||||||||||||
Net income available to common stockholders, adjusted | $ | 10,712 | $ | 9,345 | $ | 29,449 | $ | 26,015 | ||||||
for effect of debt conversion | ||||||||||||||
Diluted earnings per common share | $ | 1.46 | $ | 1.35 | $ | 4.1 | $ | 3.75 | ||||||
SECURITIES
SECURITIES | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||
SECURITIES | NOTE 4 - SECURITIES | |||||||||||||||||||
The amortized cost and fair value of available-for-sale and held-to-maturity securities at September 30, 2013 and December 31, 2012 are summarized as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Market | |||||||||||||||||
Cost | Gain | Loss | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 27,762 | $ | 844 | $ | - | $ | 28,606 | ||||||||||||
Mortgage-backed securities | 82,347 | 3,130 | -67 | 85,410 | ||||||||||||||||
State and municipal securities | 123,631 | 3,639 | -725 | 126,545 | ||||||||||||||||
Corporate debt | 15,717 | 132 | -25 | 15,824 | ||||||||||||||||
Total | 249,457 | 7,745 | -817 | 256,385 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 27,587 | 369 | -1,073 | 26,883 | ||||||||||||||||
State and municipal securities | 5,543 | 245 | - | 5,788 | ||||||||||||||||
Total | $ | 33,130 | $ | 614 | $ | -1,073 | $ | 32,671 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 27,360 | $ | 1,026 | $ | - | $ | 28,386 | ||||||||||||
Mortgage-backed securities | 69,298 | 4,168 | - | 73,466 | ||||||||||||||||
State and municipal securities | 112,319 | 5,941 | -83 | 118,177 | ||||||||||||||||
Corporate debt | 13,677 | 210 | -39 | 13,848 | ||||||||||||||||
Total | 222,654 | 11,345 | -122 | 233,877 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 20,429 | 768 | -40 | 21,157 | ||||||||||||||||
State and municipal securities | 5,538 | 655 | - | 6,193 | ||||||||||||||||
Total | $ | 25,967 | $ | 1,423 | $ | -40 | $ | 27,350 | ||||||||||||
All mortgage-backed securities are with government-sponsored enterprises (GSEs) such as Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Bank, and Federal Home Loan Mortgage Corporation. | ||||||||||||||||||||
The following table identifies, as of September 30, 2013 and December 31, 2012, the Company’s investment securities that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months. At September 30, 2013, one of the Company’s 647 debt securities had been in an unrealized loss position for 12 or more months. The Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell the securities before recovery of their amortized cost, which may be maturity; accordingly, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2013. Further, the Company believes any deterioration in value of its current investment securities is attributable to changes in market interest rates and not credit quality of the issuer. | ||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | Total | ||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
Unrealized | Unrealized | Unrealized | ||||||||||||||||||
Losses | Fair Value | Losses | Fair Value | Losses | Fair Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
U.S. Treasury and government | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
sponsored agencies | ||||||||||||||||||||
Mortgage-backed securities | -1,140 | 25,668 | - | - | -1,140 | 25,668 | ||||||||||||||
State and municipal securities | -723 | 32,803 | -2 | 175 | -725 | 32,978 | ||||||||||||||
Corporate debt | -25 | 5,959 | - | - | -25 | 5,959 | ||||||||||||||
Total | $ | -1,888 | $ | 64,430 | $ | -2 | $ | 175 | $ | -1,890 | $ | 64,605 | ||||||||
31-Dec-12 | ||||||||||||||||||||
U.S. Treasury and government | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
sponsored agencies | ||||||||||||||||||||
Mortgage-backed securities | -40 | 4,439 | - | - | -40 | 4,439 | ||||||||||||||
State and municipal securities | -83 | 8,801 | - | 166 | -83 | 8,967 | ||||||||||||||
Corporate debt | -39 | 4,882 | - | - | -39 | 4,882 | ||||||||||||||
Total | $ | -162 | $ | 18,122 | $ | - | $ | 166 | $ | -162 | $ | 18,288 | ||||||||
LOANS
LOANS | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||
LOANS | NOTE 5 – LOANS | ||||||||||||||||||||||
The following table details the company’s loans at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
(Dollars In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,222,953 | $ | 1,030,990 | |||||||||||||||||||
Real estate - construction | 156,595 | 158,361 | |||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 667,401 | 568,041 | |||||||||||||||||||||
1-4 family mortgage | 262,144 | 235,909 | |||||||||||||||||||||
Other mortgage | 379,490 | 323,599 | |||||||||||||||||||||
Subtotal: Real estate - mortgage | 1,309,035 | 1,127,549 | |||||||||||||||||||||
Consumer | 43,390 | 46,282 | |||||||||||||||||||||
Total Loans | 2,731,973 | 2,363,182 | |||||||||||||||||||||
Less: Allowance for loan losses | -28,927 | -26,258 | |||||||||||||||||||||
Net Loans | $ | 2,703,046 | $ | 2,336,924 | |||||||||||||||||||
Commercial, financial and agricultural | 44.76 | % | 43.63 | % | |||||||||||||||||||
Real estate - construction | 5.73 | % | 6.7 | % | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 24.43 | % | 24.04 | % | |||||||||||||||||||
1-4 family mortgage | 9.6 | % | 9.98 | % | |||||||||||||||||||
Other mortgage | 13.89 | % | 13.69 | % | |||||||||||||||||||
Subtotal: Real estate - mortgage | 47.92 | % | 47.71 | % | |||||||||||||||||||
Consumer | 1.59 | % | 1.96 | % | |||||||||||||||||||
Total Loans | 100 | % | 100 | % | |||||||||||||||||||
The credit quality of the loan portfolio is summarized no less frequently than quarterly using categories similar to the standard asset classification system used by the federal banking agencies. The following table presents credit quality indicators for the loan loss portfolio segments and classes. These categories are utilized to develop the associated allowance for loan losses using historical losses adjusted for current economic conditions defined as follows: | |||||||||||||||||||||||
· | Pass – loans which are well protected by the current net worth and paying capacity of the obligor (or obligors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. | ||||||||||||||||||||||
· | Special Mention – loans with potential weakness that may, if not reversed or corrected, weaken the credit or inadequately protect the Company’s position at some future date. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification. | ||||||||||||||||||||||
· | Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the weaknesses are not corrected. | ||||||||||||||||||||||
· | Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus 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. | ||||||||||||||||||||||
Loans by credit quality indicator as of September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
September 30, 2013 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,183,674 | $ | 33,412 | $ | 5,867 | $ | - | $ | 1,222,953 | |||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 142,093 | 3,492 | 11,010 | - | 156,595 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 653,524 | 9,463 | 4,414 | - | 667,401 | ||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 248,425 | 1,393 | 12,326 | - | 262,144 | ||||||||||||||||||
Other mortgage | 365,911 | 9,788 | 3,791 | - | 379,490 | ||||||||||||||||||
Total real estate mortgage | 1,267,860 | 20,644 | 20,531 | - | 1,309,035 | ||||||||||||||||||
Consumer | 42,615 | 51 | 724 | - | 43,390 | ||||||||||||||||||
Total | $ | 2,636,242 | $ | 57,599 | $ | 38,132 | $ | - | $ | 2,731,973 | |||||||||||||
Special | |||||||||||||||||||||||
31-Dec-12 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,004,043 | $ | 19,172 | $ | 7,775 | $ | - | $ | 1,030,990 | |||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 121,168 | 22,771 | 14,422 | - | 158,361 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 555,536 | 4,142 | 8,363 | - | 568,041 | ||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 223,152 | 6,379 | 6,378 | - | 235,909 | ||||||||||||||||||
Other mortgage | 312,473 | 6,674 | 4,452 | - | 323,599 | ||||||||||||||||||
Total real estate mortgage | 1,091,161 | 17,195 | 19,193 | - | 1,127,549 | ||||||||||||||||||
Consumer | 46,076 | 71 | 135 | - | 46,282 | ||||||||||||||||||
Total | $ | 2,262,448 | $ | 59,209 | $ | 41,525 | $ | - | $ | 2,363,182 | |||||||||||||
Loans by performance status as of September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||
30-Sep-13 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,222,110 | $ | 843 | $ | 1,222,953 | |||||||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 152,037 | 4,558 | 156,595 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 663,709 | 3,692 | 667,401 | ||||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 262,144 | - | 262,144 | ||||||||||||||||||||
Other mortgage | 379,253 | 237 | 379,490 | ||||||||||||||||||||
Total real estate mortgage | 1,305,106 | 3,929 | 1,309,035 | ||||||||||||||||||||
Consumer | 43,324 | 66 | 43,390 | ||||||||||||||||||||
Total | $ | 2,722,577 | $ | 9,396 | $ | 2,731,973 | |||||||||||||||||
31-Dec-12 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,030,714 | $ | 276 | $ | 1,030,990 | |||||||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 151,901 | 6,460 | 158,361 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 565,255 | 2,786 | 568,041 | ||||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 235,456 | 453 | 235,909 | ||||||||||||||||||||
Other mortgage | 323,359 | 240 | 323,599 | ||||||||||||||||||||
Total real estate mortgage | 1,124,070 | 3,479 | 1,127,549 | ||||||||||||||||||||
Consumer | 46,139 | 143 | 46,282 | ||||||||||||||||||||
Total | $ | 2,352,824 | $ | 10,358 | $ | 2,363,182 | |||||||||||||||||
Loans by past due status as of September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||
30-Sep-13 | Past Due Status (Accruing Loans) | ||||||||||||||||||||||
Total Past | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Due | Non-Accrual | Current | Total Loans | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 82 | $ | 971 | $ | - | $ | 1,053 | $ | 843 | $ | 1,221,057 | $ | 1,222,953 | |||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | - | 1,510 | - | 1,510 | 4,558 | 150,527 | 156,595 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | - | - | - | - | 3,692 | 663,709 | 667,401 | ||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 349 | 5,148 | - | 5,497 | - | 256,647 | 262,144 | ||||||||||||||||
Other mortgage | - | - | - | - | 237 | 379,253 | 379,490 | ||||||||||||||||
Total real estate - | 349 | 5,148 | - | 5,497 | 3,929 | 1,299,609 | 1,309,035 | ||||||||||||||||
mortgage | |||||||||||||||||||||||
Consumer | 56 | - | - | 56 | 66 | 43,268 | 43,390 | ||||||||||||||||
Total | $ | 487 | $ | 7,629 | $ | - | $ | 8,116 | $ | 9,396 | $ | 2,714,461 | $ | 2,731,973 | |||||||||
31-Dec-12 | Past Due Status (Accruing Loans) | ||||||||||||||||||||||
Total Past | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Due | Non-Accrual | Current | Total Loans | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,699 | $ | 385 | $ | - | $ | 2,084 | $ | 276 | $ | 1,028,630 | $ | 1,030,990 | |||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | - | - | - | - | 6,460 | 151,901 | 158,361 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 1,480 | 10 | - | 1,490 | 2,786 | 563,765 | 568,041 | ||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 420 | 16 | - | 436 | 453 | 235,020 | 235,909 | ||||||||||||||||
Other mortgage | 516 | - | - | 516 | 240 | 322,843 | 323,599 | ||||||||||||||||
Total real estate - | 2,416 | 26 | - | 2,442 | 3,479 | 1,121,628 | 1,127,549 | ||||||||||||||||
mortgage | |||||||||||||||||||||||
Consumer | 108 | - | 8 | 116 | 135 | 46,031 | 46,282 | ||||||||||||||||
Total | $ | 4,223 | $ | 411 | $ | 8 | $ | 4,642 | $ | 10,350 | $ | 2,348,190 | $ | 2,363,182 | |||||||||
The Company assesses the adequacy of its allowance for loan losses prior to the end of each calendar quarter. The level of the allowance is based on management’s evaluation of the loan portfolios, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, economic conditions, industry and peer bank loan quality indications and other pertinent factors, including regulatory recommendations. This evaluation is inherently subjective as it requires material estimates including the amounts and timing of future cash flows expected to be received on impaired loans that may be susceptible to significant change. Loan losses are charged off when management believes that the full collectability of the loan is unlikely. A loan may be partially charged-off after a “confirming event” has occurred which serves to validate that full repayment pursuant to the terms of the loan is unlikely. Allocation of the allowance is made for specific loans, but the entire allowance is available for any loan that in management’s judgment deteriorates and is uncollectible. The portion of the reserve attributable to qualitative factors is management’s evaluation of potential future losses that would arise in the loan portfolio should management’s assumption about qualitative and environmental conditions materialize. This qualitative factor portion of the allowance for loan losses is based on management’s judgment regarding various external and internal factors including macroeconomic trends, management’s assessment of the Company’s loan growth prospects, and evaluations of internal risk controls. | |||||||||||||||||||||||
The following table presents an analysis of the allowance for loan losses by portfolio segment as of September 30, 2013 and December 31, 2012. The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated. | |||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||
financial and | Real estate - | Real estate - | Qualitative | ||||||||||||||||||||
agricultural | construction | mortgage | Consumer | Factors | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2013 | $ | 11,140 | $ | 5,453 | $ | 6,039 | $ | 224 | $ | 5,901 | $ | 28,757 | |||||||||||
Charge-offs | -849 | -394 | -1,746 | -42 | - | -3,031 | |||||||||||||||||
Recoveries | 13 | 124 | 24 | 6 | - | 167 | |||||||||||||||||
Provision | 739 | 307 | 1,078 | 563 | 347 | 3,034 | |||||||||||||||||
Balance at September 30, 2013 | $ | 11,043 | $ | 5,490 | $ | 5,395 | $ | 751 | $ | 6,248 | $ | 28,927 | |||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2012 | $ | 6,511 | $ | 7,582 | $ | 3,640 | $ | 285 | $ | 5,221 | $ | 23,239 | |||||||||||
Charge-offs | -349 | -16 | -30 | -79 | - | -474 | |||||||||||||||||
Recoveries | 24 | 47 | 582 | 1 | - | 654 | |||||||||||||||||
Provision | 1,090 | -1,560 | 615 | 96 | 944 | 1,185 | |||||||||||||||||
Balance at September 30, 2012 | $ | 7,276 | $ | 6,053 | $ | 4,807 | $ | 303 | $ | 6,165 | $ | 24,604 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 8,233 | $ | 6,511 | $ | 4,912 | $ | 199 | $ | 6,403 | $ | 26,258 | |||||||||||
Charge-offs | -1,838 | -4,271 | -2,016 | -172 | - | -8,297 | |||||||||||||||||
Recoveries | 50 | 226 | 28 | 10 | - | 314 | |||||||||||||||||
Provision | 4,598 | 3,024 | 2,471 | 714 | -155 | 10,652 | |||||||||||||||||
Balance at September 30, 2013 | $ | 11,043 | $ | 5,490 | $ | 5,395 | $ | 751 | $ | 6,248 | $ | 28,927 | |||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 6,627 | $ | 6,542 | $ | 3,295 | $ | 531 | $ | 5,035 | $ | 22,030 | |||||||||||
Charge-offs | -898 | -2,935 | -311 | -707 | - | -4,851 | |||||||||||||||||
Recoveries | 124 | 55 | 588 | 7 | - | 774 | |||||||||||||||||
Provision | 1,423 | 2,391 | 1,235 | 472 | 1,130 | 6,651 | |||||||||||||||||
Balance at September 30, 2012 | $ | 7,276 | $ | 6,053 | $ | 4,807 | $ | 303 | $ | 6,165 | $ | 24,604 | |||||||||||
As of September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 1,817 | $ | 1,363 | $ | 1,576 | $ | 592 | $ | - | $ | 5,348 | |||||||||||
Collectively Evaluated for Impairment | 9,226 | 4,127 | 3,819 | 159 | 6,248 | 23,579 | |||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,222,953 | $ | 156,595 | $ | 1,309,035 | $ | 43,390 | $ | - | $ | 2,731,973 | |||||||||||
Individually Evaluated for Impairment | 4,048 | 11,010 | 20,475 | 608 | - | 36,141 | |||||||||||||||||
Collectively Evaluated for Impairment | 1,218,905 | 145,585 | 1,288,560 | 42,782 | - | 2,695,832 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 577 | $ | 1,013 | $ | 1,921 | $ | - | $ | - | $ | 3,511 | |||||||||||
Collectively Evaluated for Impairment | 7,656 | 5,498 | 2,991 | 199 | 6,403 | 22,747 | |||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,030,990 | $ | 158,361 | $ | 1,127,549 | $ | 46,282 | $ | - | $ | 2,363,182 | |||||||||||
Individually Evaluated for Impairment | 3,910 | 14,422 | 18,927 | 135 | - | 37,394 | |||||||||||||||||
Collectively Evaluated for Impairment | 1,027,080 | 143,939 | 1,108,622 | 46,147 | - | 2,325,788 | |||||||||||||||||
The following table presents details of the Company’s impaired loans as of September 30, 2013 and December 31, 2012, respectively. Loans which have been fully charged off do not appear in the tables. | |||||||||||||||||||||||
For the three months | For the nine months | ||||||||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||||||||
September 30, 2013 | 2013 | 2013 | |||||||||||||||||||||
Interest | Interest | ||||||||||||||||||||||
Unpaid | Average | Income | Average | Income | |||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | Recorded | Recognized | |||||||||||||||||
Investment | Balance | Allowance | Investment | in Period | Investment | in Period | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||
Commercial, financial and | $ | 856 | $ | 876 | $ | - | $ | 875 | $ | 11 | $ | 875 | $ | 33 | |||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 5,217 | 6,135 | - | 4,847 | 35 | 4,201 | 113 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 2,792 | 2,918 | - | 2,884 | 8 | 2,923 | 51 | ||||||||||||||||
1-4 family mortgage | 1,349 | 1,349 | - | 1,350 | 15 | 1,352 | 45 | ||||||||||||||||
Other mortgage | 3,500 | 3,599 | - | 3,963 | 46 | 4,147 | 150 | ||||||||||||||||
Total real estate - mortgage | 7,641 | 7,866 | - | 8,197 | 69 | 8,422 | 246 | ||||||||||||||||
Consumer | 16 | 16 | - | 17 | - | 20 | 1 | ||||||||||||||||
Total with no allowance recorded | 13,730 | 14,893 | - | 13,936 | 115 | 13,518 | 393 | ||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and | 3,192 | 3,632 | 1,817 | 3,622 | 21 | 3,573 | 106 | ||||||||||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 5,793 | 5,793 | 1,363 | 5,572 | 41 | 5,309 | 126 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,566 | 1,566 | 527 | 1,571 | -16 | 1,582 | 19 | ||||||||||||||||
1-4 family mortgage | 10,977 | 10,977 | 973 | 10,804 | 111 | 10,968 | 268 | ||||||||||||||||
Other mortgage | 291 | 291 | 76 | 293 | 5 | 298 | 15 | ||||||||||||||||
Total real estate - mortgage | 12,834 | 12,834 | 1,576 | 12,668 | 100 | 12,848 | 302 | ||||||||||||||||
Consumer | 592 | 592 | 592 | 593 | 8 | 698 | 30 | ||||||||||||||||
Total with allowance recorded | 22,411 | 22,851 | 5,348 | 22,455 | 170 | 22,428 | 564 | ||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and | 4,048 | 4,508 | 1,817 | 4,497 | 32 | 4,448 | 139 | ||||||||||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 11,010 | 11,928 | 1,363 | 10,419 | 76 | 9,510 | 239 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 4,358 | 4,484 | 527 | 4,455 | -8 | 4,505 | 70 | ||||||||||||||||
1-4 family mortgage | 12,326 | 12,326 | 973 | 12,154 | 126 | 12,320 | 313 | ||||||||||||||||
Other mortgage | 3,791 | 3,890 | 76 | 4,256 | 51 | 4,445 | 165 | ||||||||||||||||
Total real estate - mortgage | 20,475 | 20,700 | 1,576 | 20,865 | 169 | 21,270 | 548 | ||||||||||||||||
Consumer | 608 | 608 | 592 | 610 | 8 | 718 | 31 | ||||||||||||||||
Total impaired loans | $ | 36,141 | $ | 37,744 | $ | 5,348 | $ | 36,391 | $ | 285 | $ | 35,946 | $ | 957 | |||||||||
December 31, 2012 | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized in | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Period | |||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 2,602 | $ | 2,856 | $ | - | $ | 2,313 | $ | 105 | |||||||||||||
Real estate - construction | 6,872 | 7,894 | - | 7,631 | 188 | ||||||||||||||||||
Owner-occupied commercial | 5,111 | 5,361 | - | 5,411 | 145 | ||||||||||||||||||
1-4 family mortgage | 2,166 | 2,388 | - | 2,177 | 108 | ||||||||||||||||||
Other mortgage | 4,151 | 4,249 | - | 4,206 | 275 | ||||||||||||||||||
Total real estate - mortgage | 11,428 | 11,998 | - | 11,794 | 528 | ||||||||||||||||||
Consumer | 135 | 344 | - | 296 | 6 | ||||||||||||||||||
Total with no allowance recorded | 21,037 | 23,092 | - | 22,034 | 827 | ||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 1,308 | 1,308 | 577 | 1,325 | 90 | ||||||||||||||||||
Real estate - construction | 7,550 | 8,137 | 1,013 | 6,961 | 154 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 3,195 | 3,195 | 779 | 3,277 | 77 | ||||||||||||||||||
1-4 family mortgage | 4,002 | 4,002 | 1,007 | 4,001 | 139 | ||||||||||||||||||
Other mortgage | 302 | 302 | 135 | 307 | 20 | ||||||||||||||||||
Total real estate - mortgage | 7,499 | 7,499 | 1,921 | 7,585 | 236 | ||||||||||||||||||
Total with allowance recorded | 16,357 | 16,944 | 3,511 | 15,871 | 480 | ||||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,910 | 4,164 | 577 | 3,638 | 195 | ||||||||||||||||||
Real estate - construction | 14,422 | 16,031 | 1,013 | 14,592 | 342 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 8,306 | 8,556 | 779 | 8,688 | 222 | ||||||||||||||||||
1-4 family mortgage | 6,168 | 6,390 | 1,007 | 6,178 | 247 | ||||||||||||||||||
Other mortgage | 4,453 | 4,551 | 135 | 4,513 | 295 | ||||||||||||||||||
Total real estate - mortgage | 18,927 | 19,497 | 1,921 | 19,379 | 764 | ||||||||||||||||||
Consumer | 135 | 344 | - | 296 | 6 | ||||||||||||||||||
Total impaired loans | $ | 37,394 | $ | 40,036 | $ | 3,511 | $ | 37,905 | $ | 1,307 | |||||||||||||
Troubled Debt Restructurings (“TDR”) at September 30, 2013, December 31, 2012 and September 30, 2012 totaled $8.4 million, $12.3 million and $12.0 million, respectively. At September 30, 2013, the Company had a related allowance for loan losses of $0.8 million allocated to these TDRs, compared to $1.4 million at December 31, 2012 and $1.4 million at September 30, 2012. During the third quarter 2013, the Company had three TDR loans to one borrower in the amount of $3.1 million enter into payment default status. Two of these loans were fully charged-off and a partial charge-off was taken on the remaining loan for a total charge-off of $0.9 million, leaving a balance of $2.2 million on the TDR at September 30, 2013. All other loans classified as TDRs as of September 30, 2013 are performing as agreed under the terms of their restructured plans. The following table presents an analysis of TDRs as of September 30, 2013 and September 30, 2012. | |||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||
Pre- | Post- | Pre- | Post- | ||||||||||||||||||||
Modification | Modification | Modification | Modification | ||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 1,017 | $ | 1,017 | 2 | $ | 1,216 | $ | 1,216 | |||||||||||||
Real estate - construction | - | - | - | 15 | 2,899 | 2,899 | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1 | 3,121 | 2,200 | 6 | 5,907 | 5,907 | |||||||||||||||||
1-4 family mortgage | 1 | 4,925 | 4,925 | 5 | 1,709 | 1,709 | |||||||||||||||||
Other mortgage | 1 | 291 | 291 | 1 | 304 | 304 | |||||||||||||||||
Total real estate - mortgage | 3 | 8,337 | 7,416 | 12 | 7,920 | 7,920 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
5 | $ | 9,354 | $ | 8,433 | 29 | $ | 12,035 | $ | 12,035 | ||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
That Subsequently Defaulted | |||||||||||||||||||||||
Commercial, financial and agricultural | - | $ | - | - | $ | - | |||||||||||||||||
Real estate - construction | - | - | - | - | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1 | 2,200 | - | - | |||||||||||||||||||
1-4 family mortgage | - | - | - | - | |||||||||||||||||||
Other mortgage | - | - | - | - | |||||||||||||||||||
Total real estate - mortgage | 1 | 2,200 | - | - | |||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||
1 | $ | 2,200 | - | $ | - | ||||||||||||||||||
EMPLOYEE_AND_DIRECTOR_BENEFITS
EMPLOYEE AND DIRECTOR BENEFITS | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |||||||||||||||
EMPLOYEE AND DIRECTOR BENEFITS | NOTE 6 - EMPLOYEE AND DIRECTOR BENEFITS | ||||||||||||||
Stock Options | |||||||||||||||
At September 30, 2013, the Company had stock-based compensation plans, as described below. The compensation cost that has been charged to earnings for the plans was approximately $308,000 and $889,000 for the three and nine months ended September 30, 2013 and $266,000 and $788,000 for the three and nine months ended September 30, 2012. | |||||||||||||||
The Company’s 2005 Amended and Restated Stock Option Plan allows for the grant of stock options to purchase up to 1,025,000 shares of the Company’s common stock. The Company’s 2009 Stock Incentive Plan authorizes the grant of up to 425,000 shares and allows for the issuance of Stock Appreciation Rights, Restricted Stock, Stock Options, Non-stock Share Equivalents, Performance Shares or Performance Units. Both plans allow for the grant of incentive stock options and non-qualified stock options, and awards are generally granted with an exercise price equal to the estimated fair market value of the Company’s common stock at the date of grant. The maximum term of the options granted under the plans is ten years. | |||||||||||||||
The Company has granted non-plan options to certain persons representing key business relationships to purchase up to an aggregate amount of 55,000 shares of the Company’s common stock at prices between $15.00 and $20.00 per share with a term of ten years. These options are non-qualified and not part of either plan. | |||||||||||||||
The Company estimates the fair value of each stock option award using a Black-Scholes-Merton valuation model that uses the assumptions noted in the following table. Expected volatilities are based on an index of southeastern United States publicly traded banks. The expected term for options granted is based on the short-cut method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant. | |||||||||||||||
2013 | 2012 | ||||||||||||||
Expected volatility | 18.5 | % | 19.88 | % | |||||||||||
Expected term (in years) | 7.5 years | 6 years | |||||||||||||
Risk-free rate | 1.39 | % | 1.03 | % | |||||||||||
The weighted average grant-date fair value of options granted during the nine months ended September 30, 2013 and September 30, 2012 was $8.03 and $6.52, respectively. | |||||||||||||||
The following table summarizes stock option activity during the nine months ended September 30, 2013 and September 30, 2012: | |||||||||||||||
Weighted | |||||||||||||||
Weighted | Average | ||||||||||||||
Average | Remaining | Aggregate | |||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||
Shares | Price | Term (years) | Value | ||||||||||||
(In Thousands) | |||||||||||||||
Nine Months Ended September 30, 2013: | |||||||||||||||
Outstanding at January 1, 2013 | 816,500 | $ | 20.87 | 5.8 | $ | 9,905 | |||||||||
Granted | 25,000 | 33 | 9.5 | ||||||||||||
Exercised | -43,000 | 14.42 | 2.8 | 1,054 | |||||||||||
Forfeited | -3,000 | 20 | 4.2 | 65 | |||||||||||
Outstanding at September 30, 2013 | 795,500 | 21.6 | 5.3 | $ | 15,828 | ||||||||||
Exercisable at September 30, 2013 | 517,744 | $ | 15.3 | 3.1 | $ | 13,563 | |||||||||
Nine Months Ended September 30, 2012: | |||||||||||||||
Outstanding at January 1, 2012 | 1,073,800 | $ | 18.33 | 6 | $ | 12,508 | |||||||||
Granted | 41,500 | 30 | 9.5 | ||||||||||||
Exercised | -54,036 | 11.07 | 3.3 | 1,023 | |||||||||||
Forfeited | -12,500 | 25.6 | 5.6 | 55 | |||||||||||
Outstanding at September 30, 2012 | 1,048,764 | 19.11 | 5.8 | $ | 11,440 | ||||||||||
Exercisable at September 30, 2012 | 443,589 | $ | 13.4 | 3.7 | $ | 7,363 | |||||||||
As of September 30, 2013, there was $1,448,000 of total unrecognized compensation cost related to non-vested stock options. The cost is expected to be recognized on the straight-line method over the next 1.4 years. | |||||||||||||||
Restricted Stock | |||||||||||||||
The Company has awarded 71,000 shares of restricted stock, of which 16,000 shares are vested. The value of restricted stock awards is determined to be the current value of the Company’s stock at the grant date, and this total value will be recognized as compensation expense over the vesting period, which is five years from the date of grant. As of September 30, 2013, there was $1,288,000 of total unrecognized compensation cost related to non-vested restricted stock. The cost is expected to be recognized evenly over the remaining 3.4 years of the restricted stock’s vesting period. | |||||||||||||||
DERIVATIVES
DERIVATIVES | 9 Months Ended |
Sep. 30, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVES | NOTE 7 - DERIVATIVES |
During 2008, the Company entered into an interest rate swap (“swap”) to facilitate the financing needs of a single customer. Upon entering into the swap, the Company entered into an offsetting position with a regional correspondent bank in order to minimize the risk to the Company. As of September 30, 2013, the notional amount of the swap with this customer was approximately $4.5 million while the notional amount of the swap with the correspondent bank was also approximately $4.5 million. The swap qualifies as a derivative, but is not designated as a hedging instrument. The Company has recorded the value of the swap at $194,000 in offsetting entries in other assets and other liabilities. | |
The Company has entered into agreements with secondary market investors to deliver loans on a “best efforts delivery” basis. When a rate is committed to a borrower, it is based on the best price that day and locked with the investor for the customer for a 30-day period. In the event the loan is not delivered to the investor, the Company has no risk or exposure with the investor. The interest rate lock commitments related to loans that are originated for later sale are classified as derivatives. The fair values of the Company’s agreements with investors and rate lock commitments to customers as of September 30, 2013 and December 31, 2012 were not material. | |
RECENTLY_ADOPTED_ACCOUNTING_PR
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes In Accounting Principles [Abstract] | |
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS | NOTE 8 – RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS |
In December 2011, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities, which amended disclosures by requiring improved information about financial instruments and derivative instruments that are either offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset on the balance sheet. Reporting entities are required to provide both net and gross information for these assets and liabilities in order to enhance comparability between those entities that prepare their financial statements on the basis of international financial reporting standards (“IFRS”). Companies were required to apply the amendments for fiscal years beginning on or after January 1, 2013, and interim periods within those years. The Company has adopted this update, but such adoption had no impact on its financial position or results of operations. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires a reporting entity to provide information about the amounts reclassified out of accumulated comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional details about those amounts. Companies were required to apply these amendments prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company has adopted this update, but such adoption had no impact on its financial position or results of operations. | |
In July 2013, the FASB issued ASU No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes, which permits the Fed Funds Effective Swap Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes, in addition to the U.S. Treasury and London Interbank Offered Rate. The ASU also amends previous rules by removing the restriction on using different benchmark rates for similar hedges. The amendments apply to all entities that elect to apply hedge accounting of the benchmark interest rate. The amendments in this ASU were effective for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The Company has adopted this update, but such adoption had no impact on its financial position or results of operations. | |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 9 - RECENT ACCOUNTING PRONOUNCEMENTS |
In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date, which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The amendments in this ASU are effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations. | |
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides that an unrecognized tax benefit, or a portion thereof, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent that a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date to settle any additional income taxes that would result from disallowance of a tax position, or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented as a liability. The amendments in this ASU are effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. Early adoption and retrospective application is permitted. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations. | |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||
FAIR VALUE MEASUREMENT | NOTE 10 - FAIR VALUE MEASUREMENT | |||||||||||||
Measurement of fair value under U.S. GAAP establishes a hierarchy that prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three broad levels, which are described below: | ||||||||||||||
Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. | ||||||||||||||
Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data. | ||||||||||||||
Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. | ||||||||||||||
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value. | ||||||||||||||
Securities. Where quoted prices are available in an active market, securities are classified within Level 1 of the hierarchy. Level 1 securities include highly liquid government securities such as U.S. Treasuries and exchange-traded equity securities. For securities traded in secondary markets for which quoted market prices are not available, the Company generally relies on prices obtained from independent vendors. Securities measured with these techniques are classified within Level 2 of the hierarchy and often involve using quoted market prices for similar securities, pricing models or discounted cash flow calculations using inputs observable in the market where available. Examples include U.S. government agency securities, mortgage-backed securities, obligations of states and political subdivisions, and certain corporate, asset-backed and other securities. In cases where Level 1 or Level 2 inputs are not available, securities are classified in Level 3 of the hierarchy. | ||||||||||||||
Interest Rate Swap Agreements. The fair value is estimated by a third party using inputs that are observable or that can be corroborated by observable market data and, therefore, are classified within Level 2 of the hierarchy. These fair value estimations include primarily market observable inputs such as yield curves and option volatilities, and include the value associated with counterparty credit risk. | ||||||||||||||
Impaired Loans. Impaired loans are measured and reported at fair value when full payment under the loan terms is not probable. Impaired loans are carried at the present value of expected future cash flows using the loan’s existing rate in a discounted cash flow calculation, or the fair value of the collateral if the loan is collateral-dependent. Expected cash flows are based on internal inputs reflecting expected default rates on contractual cash flows. This method of estimating fair value does not incorporate the exit-price concept of fair value described in Accounting Standards Codification (“ASC”) 820-10 and would generally result in a higher value than the exit-price approach. For loans measured using the estimated fair value of collateral less costs to sell, fair value is generally determined based on appraisals performed by certified and licensed appraisers using inputs such as absorption rates, capitalization rates, and market comparables, adjusted for estimated costs to sell. Management modifies the appraised values, if needed, to take into account recent developments in the market or other factors, such as changes in absorption rates or market conditions from the time of valuation, and anticipated sales values considering management’s plans for disposition. Such modifications to the appraised values could result in lower valuations of such collateral. Estimated costs to sell are based on current amounts of disposal costs for similar assets. These measurements are classified as level 3 within the valuation hierarchy. Impaired loans are subject to nonrecurring fair value adjustment upon initial recognition or subsequent impairment. A portion of the allowance for loan losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly based on the same factors identified above. The amount recognized as an impairment charge related to impaired loans that are measured at fair value on a nonrecurring basis was $2,301,000 and $7,983,000 during the three and nine months ended September 30, 2013, respectively, and $1,246,000 and $4,946,000 during the three and nine months ended September 30, 2012, respectively. | ||||||||||||||
Other Real Estate Owned. Other real estate owned (“OREO”) acquired through, or in lieu of, foreclosure are held for sale and are initially recorded at the lower of cost or fair value, less selling costs. Any write-downs to fair value at the time of transfer to OREO are charged to the allowance for loan losses subsequent to foreclosure. Values are derived from appraisals of underlying collateral and discounted cash flow analysis. A net loss on the sale and write-downs of OREO of $302,000 and $813,000 was recognized for the three and nine months ended September 30, 2013, respectively. A net loss on the sale and write-downs of OREO of $933,000 and $1,416,000 was recognized during the three and nine months ended September 30, 2012, respectively. These charges were for write-downs in the value of OREO subsequent to foreclosure and losses on the disposal of OREO. OREO is classified within Level 3 of the hierarchy. | ||||||||||||||
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | ||||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable Inputs | Unobservable | ||||||||||||
Assets (Level 1) | (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Recurring Basis: | ||||||||||||||
Available-for-sale securities: | ||||||||||||||
U.S. Treasury and government sponsored agencies | $ | - | $ | 28,606 | $ | - | $ | 28,606 | ||||||
Mortgage-backed securities | - | 85,410 | - | 85,410 | ||||||||||
State and municipal securities | - | 126,545 | - | 126,545 | ||||||||||
Corporate debt | - | 15,824 | - | 15,824 | ||||||||||
Interest rate swap agreements | - | 194 | - | 194 | ||||||||||
Total assets at fair value | $ | - | $ | 256,579 | $ | - | $ | 256,579 | ||||||
Liabilities Measured on a Recurring Basis: | ||||||||||||||
Interest rate swap agreements | $ | - | $ | 194 | $ | - | $ | 194 | ||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable Inputs | Unobservable | ||||||||||||
Assets (Level 1) | (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Recurring Basis: | ||||||||||||||
Available-for-sale securities | ||||||||||||||
U.S. Treasury and government sponsored agencies | $ | - | $ | 28,386 | $ | - | $ | 28,386 | ||||||
Mortgage-backed securities | - | 73,466 | - | 73,466 | ||||||||||
State and municipal securities | - | 118,177 | - | 118,177 | ||||||||||
Corporate debt | - | 13,848 | - | 13,848 | ||||||||||
Interest rate swap agreements | - | 389 | - | 389 | ||||||||||
Total assets at fair value | - | 234,266 | - | 234,266 | ||||||||||
Liabilities Measured on a Recurring Basis: | ||||||||||||||
Interest rate swap agreements | $ | - | $ | 389 | $ | - | $ | 389 | ||||||
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of September 30, 2013 and December 31, 2012: | ||||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable | Unobservable | ||||||||||||
Assets (Level 1) | Inputs (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | - | $ | 30,793 | $ | 30,793 | |||||||
Other real estate owned and repossessed assets | - | - | 14,258 | 14,258 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 45,051 | $ | 45,051 | ||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable | Unobservable | ||||||||||||
Assets (Level 1) | Inputs (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 33,883 | $ | 33,883 | ||||||
Other real estate owned | - | - | 9,873 | 9,873 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 43,756 | $ | 43,756 | ||||||
The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Current U.S. GAAP excludes certain financial instruments and all nonfinancial instruments from its fair value disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. | ||||||||||||||
The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: | ||||||||||||||
Cash and cash equivalents: The carrying amounts reported in the statements of financial condition approximate those assets’ fair values. | ||||||||||||||
Debt securities: Where quoted prices are available in an active market, securities are classified within Level 1 of the hierarchy. Level 1 securities include highly liquid government securities such as U.S. treasuries and exchange-traded equity securities. For securities traded in secondary markets for which quoted market prices are not available, the Company generally relies on prices obtained from independent vendors. Such independent pricing services are to advise the Company on the carrying value of the securities available for sale portfolio. As part of the Company’s procedures, the price provided from the service is evaluated for reasonableness given market changes. When a questionable price exists, the Company investigates further to determine if the price is valid. If needed, other market participants may be utilized to determine the correct fair value. The Company has also reviewed and confirmed its determinations in discussions with the pricing service regarding their methods of price discovery. Securities measured with these techniques are classified within Level 2 of the hierarchy and often involve using quoted market prices for similar securities, pricing models or discounted cash flow calculations using inputs observable in the market where available. Examples include U.S. government agency securities, mortgage-backed securities, obligations of states and political subdivisions, and certain corporate, asset-backed and other securities. In cases where Level 1 or Level 2 inputs are not available, securities are classified in Level 3 of the fair value hierarchy. | ||||||||||||||
Restricted equity securities: Fair values for other investments are considered to be their cost as they are redeemed at par value. | ||||||||||||||
Loans, net: For variable-rate loans that re-price frequently and with no significant change in credit risk, fair value is based on carrying amounts. The fair value of other loans (for example, fixed-rate commercial real estate loans, mortgage loans, and industrial loans) is estimated using discounted cash flow analysis, based on interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Loan fair value estimates include judgments regarding future expected loss experience and risk characteristics. The method of estimating fair value does not incorporate the exit-price concept of fair value as prescribed by ASC 820 and generally produces a higher value than an exit-price approach. The measurement of the fair value of loans is classified within Level 3 of the fair value hierarchy. | ||||||||||||||
Mortgage loans held for sale: Loans are committed to be delivered to investors on a “best efforts delivery” basis within 30 days of origination. Due to this short turn-around time, the carrying amounts of the Company’s agreements approximate their fair values. | ||||||||||||||
Derivatives: The fair value of the derivative agreements are estimated by a third party using inputs that are observable or can be corroborated by observable market data. As part of the Company’s procedures, the price provided from the third party is evaluated for reasonableness given market changes. These measurements are classified within Level 2 of the fair value hierarchy. | ||||||||||||||
Accrued interest and dividends receivable: The carrying amounts in the statements of condition approximate these assets’ fair value. | ||||||||||||||
Bank owned life insurance contracts: The carrying amounts in the statements of condition approximate these assets’ fair value. | ||||||||||||||
Deposits: The fair values disclosed for demand deposits are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The carrying amounts of variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation using interest rates currently offered for deposits with similar remaining maturities. The fair value of the Company’s time deposits do not take into consideration the value of the Company’s long-term relationships with depositors, which may have significant value. Measurements of the fair value of certificates of deposit are classified within Level 2 of the fair value hierarchy. | ||||||||||||||
Other borrowings: The fair values of borrowings are estimated using discounted cash flow analysis, based on interest rates currently being offered by the Federal Home Loan Bank for borrowings of similar terms as those being valued. These measurements are classified as Level 2 in the fair value hierarchy. | ||||||||||||||
Subordinated debentures: The fair values of subordinated debentures are estimated using a discounted cash flow analysis, based on interest rates currently being offered on the best alternative debt available at the measurement date. These measurements are classified as Level 2 in the fair value hierarchy. | ||||||||||||||
Accrued interest payable: The carrying amounts in the statements of condition approximate these assets’ fair value. | ||||||||||||||
Loan commitments: The fair values of the Company’s off-balance-sheet financial instruments are based on fees currently charged to enter into similar agreements. Since the majority of the Company’s other off-balance-sheet financial instruments consists of non-fee-producing, variable-rate commitments, the Company has determined they do not have a distinguishable fair value. | ||||||||||||||
The carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2013 and December 31, 2012 are presented in the following table. | ||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||
Carrying | Carrying | |||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||
(In Thousands) | ||||||||||||||
Financial Assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Investment securities available for sale | $ | 249,457 | $ | 256,385 | $ | 233,877 | $ | 233,877 | ||||||
Investment securities held to maturity | 33,130 | 32,671 | 25,967 | 27,350 | ||||||||||
Restricted equity securities | 3,738 | 3,738 | 3,941 | 3,941 | ||||||||||
Mortgage loans held for sale | 11,592 | 11,592 | 25,826 | 25,826 | ||||||||||
Bank owned life insurance contracts | 68,460 | 68,460 | 57,014 | 57,014 | ||||||||||
Derivative | 194 | 194 | 389 | 389 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 2,703,046 | 2,705,685 | 2,336,924 | 2,327,780 | ||||||||||
Financial Liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | 2,919,217 | 2,921,406 | 2,511,572 | 2,516,320 | ||||||||||
Federal funds purchased | 170,090 | 170,090 | 117,065 | 117,065 | ||||||||||
Other borrowings | 19,932 | 19,932 | 19,917 | 19,917 | ||||||||||
Subordinated debentures | - | - | 15,050 | 15,050 | ||||||||||
Derivative | 194 | 194 | 389 | 389 | ||||||||||
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS |
The Company has evaluated all subsequent events through the date of this filing to ensure that this Form 10-Q includes appropriate disclosure of events both recognized in the financial statements as of September 30, 2013, and events which occurred subsequent to September 30, 2013 but were not recognized in the financial statements. | |
EARNINGS_PER_COMMON_SHARE_Tabl
EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Text Block [Abstract] | ||||||||||||||
Basic And Diluted Earning Per Share | Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants. | |||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(In Thousands, Except Shares and Per Share Data) | ||||||||||||||
Earnings per common share | ||||||||||||||
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 | ||||||||||
Net income available to common stockholders | $ | 10,712 | $ | 9,202 | $ | 29,449 | $ | 25,589 | ||||||
Basic earnings per common share | $ | 1.53 | $ | 1.53 | $ | 4.35 | $ | 4.28 | ||||||
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 | ||||||||||
Dilutive effects of assumed conversions and | 302,842 | 942,187 | 437,840 | 954,088 | ||||||||||
exercise of stock options and warrants | ||||||||||||||
Weighted average common and dilutive potential | 7,321,911 | 6,947,429 | 7,206,518 | 6,931,678 | ||||||||||
common shares outstanding | ||||||||||||||
Net income available to common stockholders | $ | 10,712 | $ | 9,202 | $ | 29,449 | $ | 25,589 | ||||||
Effect of interest expense on convertible debt, net of tax and | - | 143 | - | 426 | ||||||||||
discretionary expenditures related to conversion | ||||||||||||||
Net income available to common stockholders, adjusted | $ | 10,712 | $ | 9,345 | $ | 29,449 | $ | 26,015 | ||||||
for effect of debt conversion | ||||||||||||||
Diluted earnings per common share | $ | 1.46 | $ | 1.35 | $ | 4.1 | $ | 3.75 | ||||||
SECURITIES_Tables
SECURITIES (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||
Amortized Cost and Fair Value of Available for Sale And Held to Maturity Securities | The amortized cost and fair value of available-for-sale and held-to-maturity securities at September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Market | |||||||||||||||||
Cost | Gain | Loss | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 27,762 | $ | 844 | $ | - | $ | 28,606 | ||||||||||||
Mortgage-backed securities | 82,347 | 3,130 | -67 | 85,410 | ||||||||||||||||
State and municipal securities | 123,631 | 3,639 | -725 | 126,545 | ||||||||||||||||
Corporate debt | 15,717 | 132 | -25 | 15,824 | ||||||||||||||||
Total | 249,457 | 7,745 | -817 | 256,385 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 27,587 | 369 | -1,073 | 26,883 | ||||||||||||||||
State and municipal securities | 5,543 | 245 | - | 5,788 | ||||||||||||||||
Total | $ | 33,130 | $ | 614 | $ | -1,073 | $ | 32,671 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 27,360 | $ | 1,026 | $ | - | $ | 28,386 | ||||||||||||
Mortgage-backed securities | 69,298 | 4,168 | - | 73,466 | ||||||||||||||||
State and municipal securities | 112,319 | 5,941 | -83 | 118,177 | ||||||||||||||||
Corporate debt | 13,677 | 210 | -39 | 13,848 | ||||||||||||||||
Total | 222,654 | 11,345 | -122 | 233,877 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 20,429 | 768 | -40 | 21,157 | ||||||||||||||||
State and municipal securities | 5,538 | 655 | - | 6,193 | ||||||||||||||||
Total | $ | 25,967 | $ | 1,423 | $ | -40 | $ | 27,350 | ||||||||||||
Investment Securities Continuous Unrealized Loss Position | The following table identifies, as of September 30, 2013 and December 31, 2012, the Company’s investment securities that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months. At September 30, 2013, one of the Company’s 647 debt securities had been in an unrealized loss position for 12 or more months. The Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell the securities before recovery of their amortized cost, which may be maturity; accordingly, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2013. Further, the Company believes any deterioration in value of its current investment securities is attributable to changes in market interest rates and not credit quality of the issuer. | |||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | Total | ||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
Unrealized | Unrealized | Unrealized | ||||||||||||||||||
Losses | Fair Value | Losses | Fair Value | Losses | Fair Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
U.S. Treasury and government | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
sponsored agencies | ||||||||||||||||||||
Mortgage-backed securities | -1,140 | 25,668 | - | - | -1,140 | 25,668 | ||||||||||||||
State and municipal securities | -723 | 32,803 | -2 | 175 | -725 | 32,978 | ||||||||||||||
Corporate debt | -25 | 5,959 | - | - | -25 | 5,959 | ||||||||||||||
Total | $ | -1,888 | $ | 64,430 | $ | -2 | $ | 175 | $ | -1,890 | $ | 64,605 | ||||||||
31-Dec-12 | ||||||||||||||||||||
U.S. Treasury and government | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||
sponsored agencies | ||||||||||||||||||||
Mortgage-backed securities | -40 | 4,439 | - | - | -40 | 4,439 | ||||||||||||||
State and municipal securities | -83 | 8,801 | - | 166 | -83 | 8,967 | ||||||||||||||
Corporate debt | -39 | 4,882 | - | - | -39 | 4,882 | ||||||||||||||
Total | $ | -162 | $ | 18,122 | $ | - | $ | 166 | $ | -162 | $ | 18,288 | ||||||||
LOANS_Tables
LOANS (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||
Details Of Loans | The following table details the company’s loans at September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
(Dollars In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,222,953 | $ | 1,030,990 | |||||||||||||||||||
Real estate - construction | 156,595 | 158,361 | |||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 667,401 | 568,041 | |||||||||||||||||||||
1-4 family mortgage | 262,144 | 235,909 | |||||||||||||||||||||
Other mortgage | 379,490 | 323,599 | |||||||||||||||||||||
Subtotal: Real estate - mortgage | 1,309,035 | 1,127,549 | |||||||||||||||||||||
Consumer | 43,390 | 46,282 | |||||||||||||||||||||
Total Loans | 2,731,973 | 2,363,182 | |||||||||||||||||||||
Less: Allowance for loan losses | -28,927 | -26,258 | |||||||||||||||||||||
Net Loans | $ | 2,703,046 | $ | 2,336,924 | |||||||||||||||||||
Commercial, financial and agricultural | 44.76 | % | 43.63 | % | |||||||||||||||||||
Real estate - construction | 5.73 | % | 6.7 | % | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 24.43 | % | 24.04 | % | |||||||||||||||||||
1-4 family mortgage | 9.6 | % | 9.98 | % | |||||||||||||||||||
Other mortgage | 13.89 | % | 13.69 | % | |||||||||||||||||||
Subtotal: Real estate - mortgage | 47.92 | % | 47.71 | % | |||||||||||||||||||
Consumer | 1.59 | % | 1.96 | % | |||||||||||||||||||
Total Loans | 100 | % | 100 | % | |||||||||||||||||||
Loans By Credit Quality Indicator | Loans by credit quality indicator as of September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||
Special | |||||||||||||||||||||||
September 30, 2013 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,183,674 | $ | 33,412 | $ | 5,867 | $ | - | $ | 1,222,953 | |||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 142,093 | 3,492 | 11,010 | - | 156,595 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 653,524 | 9,463 | 4,414 | - | 667,401 | ||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 248,425 | 1,393 | 12,326 | - | 262,144 | ||||||||||||||||||
Other mortgage | 365,911 | 9,788 | 3,791 | - | 379,490 | ||||||||||||||||||
Total real estate mortgage | 1,267,860 | 20,644 | 20,531 | - | 1,309,035 | ||||||||||||||||||
Consumer | 42,615 | 51 | 724 | - | 43,390 | ||||||||||||||||||
Total | $ | 2,636,242 | $ | 57,599 | $ | 38,132 | $ | - | $ | 2,731,973 | |||||||||||||
Special | |||||||||||||||||||||||
31-Dec-12 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,004,043 | $ | 19,172 | $ | 7,775 | $ | - | $ | 1,030,990 | |||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 121,168 | 22,771 | 14,422 | - | 158,361 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 555,536 | 4,142 | 8,363 | - | 568,041 | ||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 223,152 | 6,379 | 6,378 | - | 235,909 | ||||||||||||||||||
Other mortgage | 312,473 | 6,674 | 4,452 | - | 323,599 | ||||||||||||||||||
Total real estate mortgage | 1,091,161 | 17,195 | 19,193 | - | 1,127,549 | ||||||||||||||||||
Consumer | 46,076 | 71 | 135 | - | 46,282 | ||||||||||||||||||
Total | $ | 2,262,448 | $ | 59,209 | $ | 41,525 | $ | - | $ | 2,363,182 | |||||||||||||
Loans By Performance Status | Loans by performance status as of September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||
30-Sep-13 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,222,110 | $ | 843 | $ | 1,222,953 | |||||||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 152,037 | 4,558 | 156,595 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 663,709 | 3,692 | 667,401 | ||||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 262,144 | - | 262,144 | ||||||||||||||||||||
Other mortgage | 379,253 | 237 | 379,490 | ||||||||||||||||||||
Total real estate mortgage | 1,305,106 | 3,929 | 1,309,035 | ||||||||||||||||||||
Consumer | 43,324 | 66 | 43,390 | ||||||||||||||||||||
Total | $ | 2,722,577 | $ | 9,396 | $ | 2,731,973 | |||||||||||||||||
31-Dec-12 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,030,714 | $ | 276 | $ | 1,030,990 | |||||||||||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | 151,901 | 6,460 | 158,361 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 565,255 | 2,786 | 568,041 | ||||||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 235,456 | 453 | 235,909 | ||||||||||||||||||||
Other mortgage | 323,359 | 240 | 323,599 | ||||||||||||||||||||
Total real estate mortgage | 1,124,070 | 3,479 | 1,127,549 | ||||||||||||||||||||
Consumer | 46,139 | 143 | 46,282 | ||||||||||||||||||||
Total | $ | 2,352,824 | $ | 10,358 | $ | 2,363,182 | |||||||||||||||||
Loans By Past Due Status | Loans by past due status as of September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||
30-Sep-13 | Past Due Status (Accruing Loans) | ||||||||||||||||||||||
Total Past | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Due | Non-Accrual | Current | Total Loans | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 82 | $ | 971 | $ | - | $ | 1,053 | $ | 843 | $ | 1,221,057 | $ | 1,222,953 | |||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | - | 1,510 | - | 1,510 | 4,558 | 150,527 | 156,595 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | - | - | - | - | 3,692 | 663,709 | 667,401 | ||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 349 | 5,148 | - | 5,497 | - | 256,647 | 262,144 | ||||||||||||||||
Other mortgage | - | - | - | - | 237 | 379,253 | 379,490 | ||||||||||||||||
Total real estate - | 349 | 5,148 | - | 5,497 | 3,929 | 1,299,609 | 1,309,035 | ||||||||||||||||
mortgage | |||||||||||||||||||||||
Consumer | 56 | - | - | 56 | 66 | 43,268 | 43,390 | ||||||||||||||||
Total | $ | 487 | $ | 7,629 | $ | - | $ | 8,116 | $ | 9,396 | $ | 2,714,461 | $ | 2,731,973 | |||||||||
31-Dec-12 | Past Due Status (Accruing Loans) | ||||||||||||||||||||||
Total Past | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Due | Non-Accrual | Current | Total Loans | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial | $ | 1,699 | $ | 385 | $ | - | $ | 2,084 | $ | 276 | $ | 1,028,630 | $ | 1,030,990 | |||||||||
and agricultural | |||||||||||||||||||||||
Real estate - construction | - | - | - | - | 6,460 | 151,901 | 158,361 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied | 1,480 | 10 | - | 1,490 | 2,786 | 563,765 | 568,041 | ||||||||||||||||
commercial | |||||||||||||||||||||||
1-4 family mortgage | 420 | 16 | - | 436 | 453 | 235,020 | 235,909 | ||||||||||||||||
Other mortgage | 516 | - | - | 516 | 240 | 322,843 | 323,599 | ||||||||||||||||
Total real estate - | 2,416 | 26 | - | 2,442 | 3,479 | 1,121,628 | 1,127,549 | ||||||||||||||||
mortgage | |||||||||||||||||||||||
Consumer | 108 | - | 8 | 116 | 135 | 46,031 | 46,282 | ||||||||||||||||
Total | $ | 4,223 | $ | 411 | $ | 8 | $ | 4,642 | $ | 10,350 | $ | 2,348,190 | $ | 2,363,182 | |||||||||
Changes In Allowance For Loan Losses Segregated By Loan Type | The following table presents an analysis of the allowance for loan losses by portfolio segment as of September 30, 2013 and December 31, 2012. The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated. | ||||||||||||||||||||||
Commercial, | |||||||||||||||||||||||
financial and | Real estate - | Real estate - | Qualitative | ||||||||||||||||||||
agricultural | construction | mortgage | Consumer | Factors | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2013 | $ | 11,140 | $ | 5,453 | $ | 6,039 | $ | 224 | $ | 5,901 | $ | 28,757 | |||||||||||
Charge-offs | -849 | -394 | -1,746 | -42 | - | -3,031 | |||||||||||||||||
Recoveries | 13 | 124 | 24 | 6 | - | 167 | |||||||||||||||||
Provision | 739 | 307 | 1,078 | 563 | 347 | 3,034 | |||||||||||||||||
Balance at September 30, 2013 | $ | 11,043 | $ | 5,490 | $ | 5,395 | $ | 751 | $ | 6,248 | $ | 28,927 | |||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2012 | $ | 6,511 | $ | 7,582 | $ | 3,640 | $ | 285 | $ | 5,221 | $ | 23,239 | |||||||||||
Charge-offs | -349 | -16 | -30 | -79 | - | -474 | |||||||||||||||||
Recoveries | 24 | 47 | 582 | 1 | - | 654 | |||||||||||||||||
Provision | 1,090 | -1,560 | 615 | 96 | 944 | 1,185 | |||||||||||||||||
Balance at September 30, 2012 | $ | 7,276 | $ | 6,053 | $ | 4,807 | $ | 303 | $ | 6,165 | $ | 24,604 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 8,233 | $ | 6,511 | $ | 4,912 | $ | 199 | $ | 6,403 | $ | 26,258 | |||||||||||
Charge-offs | -1,838 | -4,271 | -2,016 | -172 | - | -8,297 | |||||||||||||||||
Recoveries | 50 | 226 | 28 | 10 | - | 314 | |||||||||||||||||
Provision | 4,598 | 3,024 | 2,471 | 714 | -155 | 10,652 | |||||||||||||||||
Balance at September 30, 2013 | $ | 11,043 | $ | 5,490 | $ | 5,395 | $ | 751 | $ | 6,248 | $ | 28,927 | |||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 6,627 | $ | 6,542 | $ | 3,295 | $ | 531 | $ | 5,035 | $ | 22,030 | |||||||||||
Charge-offs | -898 | -2,935 | -311 | -707 | - | -4,851 | |||||||||||||||||
Recoveries | 124 | 55 | 588 | 7 | - | 774 | |||||||||||||||||
Provision | 1,423 | 2,391 | 1,235 | 472 | 1,130 | 6,651 | |||||||||||||||||
Balance at September 30, 2012 | $ | 7,276 | $ | 6,053 | $ | 4,807 | $ | 303 | $ | 6,165 | $ | 24,604 | |||||||||||
As of September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 1,817 | $ | 1,363 | $ | 1,576 | $ | 592 | $ | - | $ | 5,348 | |||||||||||
Collectively Evaluated for Impairment | 9,226 | 4,127 | 3,819 | 159 | 6,248 | 23,579 | |||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,222,953 | $ | 156,595 | $ | 1,309,035 | $ | 43,390 | $ | - | $ | 2,731,973 | |||||||||||
Individually Evaluated for Impairment | 4,048 | 11,010 | 20,475 | 608 | - | 36,141 | |||||||||||||||||
Collectively Evaluated for Impairment | 1,218,905 | 145,585 | 1,288,560 | 42,782 | - | 2,695,832 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | $ | 577 | $ | 1,013 | $ | 1,921 | $ | - | $ | - | $ | 3,511 | |||||||||||
Collectively Evaluated for Impairment | 7,656 | 5,498 | 2,991 | 199 | 6,403 | 22,747 | |||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,030,990 | $ | 158,361 | $ | 1,127,549 | $ | 46,282 | $ | - | $ | 2,363,182 | |||||||||||
Individually Evaluated for Impairment | 3,910 | 14,422 | 18,927 | 135 | - | 37,394 | |||||||||||||||||
Collectively Evaluated for Impairment | 1,027,080 | 143,939 | 1,108,622 | 46,147 | - | 2,325,788 | |||||||||||||||||
Details Of Company's Impaired Loans | The following table presents details of the Company’s impaired loans as of September 30, 2013 and December 31, 2012, respectively. Loans which have been fully charged off do not appear in the tables. | ||||||||||||||||||||||
For the three months | For the nine months | ||||||||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||||||||
September 30, 2013 | 2013 | 2013 | |||||||||||||||||||||
Interest | Interest | ||||||||||||||||||||||
Unpaid | Average | Income | Average | Income | |||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | Recorded | Recognized | |||||||||||||||||
Investment | Balance | Allowance | Investment | in Period | Investment | in Period | |||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||
Commercial, financial and | $ | 856 | $ | 876 | $ | - | $ | 875 | $ | 11 | $ | 875 | $ | 33 | |||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 5,217 | 6,135 | - | 4,847 | 35 | 4,201 | 113 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 2,792 | 2,918 | - | 2,884 | 8 | 2,923 | 51 | ||||||||||||||||
1-4 family mortgage | 1,349 | 1,349 | - | 1,350 | 15 | 1,352 | 45 | ||||||||||||||||
Other mortgage | 3,500 | 3,599 | - | 3,963 | 46 | 4,147 | 150 | ||||||||||||||||
Total real estate - mortgage | 7,641 | 7,866 | - | 8,197 | 69 | 8,422 | 246 | ||||||||||||||||
Consumer | 16 | 16 | - | 17 | - | 20 | 1 | ||||||||||||||||
Total with no allowance recorded | 13,730 | 14,893 | - | 13,936 | 115 | 13,518 | 393 | ||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and | 3,192 | 3,632 | 1,817 | 3,622 | 21 | 3,573 | 106 | ||||||||||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 5,793 | 5,793 | 1,363 | 5,572 | 41 | 5,309 | 126 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,566 | 1,566 | 527 | 1,571 | -16 | 1,582 | 19 | ||||||||||||||||
1-4 family mortgage | 10,977 | 10,977 | 973 | 10,804 | 111 | 10,968 | 268 | ||||||||||||||||
Other mortgage | 291 | 291 | 76 | 293 | 5 | 298 | 15 | ||||||||||||||||
Total real estate - mortgage | 12,834 | 12,834 | 1,576 | 12,668 | 100 | 12,848 | 302 | ||||||||||||||||
Consumer | 592 | 592 | 592 | 593 | 8 | 698 | 30 | ||||||||||||||||
Total with allowance recorded | 22,411 | 22,851 | 5,348 | 22,455 | 170 | 22,428 | 564 | ||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and | 4,048 | 4,508 | 1,817 | 4,497 | 32 | 4,448 | 139 | ||||||||||||||||
agricultural | |||||||||||||||||||||||
Real estate - construction | 11,010 | 11,928 | 1,363 | 10,419 | 76 | 9,510 | 239 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 4,358 | 4,484 | 527 | 4,455 | -8 | 4,505 | 70 | ||||||||||||||||
1-4 family mortgage | 12,326 | 12,326 | 973 | 12,154 | 126 | 12,320 | 313 | ||||||||||||||||
Other mortgage | 3,791 | 3,890 | 76 | 4,256 | 51 | 4,445 | 165 | ||||||||||||||||
Total real estate - mortgage | 20,475 | 20,700 | 1,576 | 20,865 | 169 | 21,270 | 548 | ||||||||||||||||
Consumer | 608 | 608 | 592 | 610 | 8 | 718 | 31 | ||||||||||||||||
Total impaired loans | $ | 36,141 | $ | 37,744 | $ | 5,348 | $ | 36,391 | $ | 285 | $ | 35,946 | $ | 957 | |||||||||
December 31, 2012 | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized in | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Period | |||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
With no allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 2,602 | $ | 2,856 | $ | - | $ | 2,313 | $ | 105 | |||||||||||||
Real estate - construction | 6,872 | 7,894 | - | 7,631 | 188 | ||||||||||||||||||
Owner-occupied commercial | 5,111 | 5,361 | - | 5,411 | 145 | ||||||||||||||||||
1-4 family mortgage | 2,166 | 2,388 | - | 2,177 | 108 | ||||||||||||||||||
Other mortgage | 4,151 | 4,249 | - | 4,206 | 275 | ||||||||||||||||||
Total real estate - mortgage | 11,428 | 11,998 | - | 11,794 | 528 | ||||||||||||||||||
Consumer | 135 | 344 | - | 296 | 6 | ||||||||||||||||||
Total with no allowance recorded | 21,037 | 23,092 | - | 22,034 | 827 | ||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 1,308 | 1,308 | 577 | 1,325 | 90 | ||||||||||||||||||
Real estate - construction | 7,550 | 8,137 | 1,013 | 6,961 | 154 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 3,195 | 3,195 | 779 | 3,277 | 77 | ||||||||||||||||||
1-4 family mortgage | 4,002 | 4,002 | 1,007 | 4,001 | 139 | ||||||||||||||||||
Other mortgage | 302 | 302 | 135 | 307 | 20 | ||||||||||||||||||
Total real estate - mortgage | 7,499 | 7,499 | 1,921 | 7,585 | 236 | ||||||||||||||||||
Total with allowance recorded | 16,357 | 16,944 | 3,511 | 15,871 | 480 | ||||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,910 | 4,164 | 577 | 3,638 | 195 | ||||||||||||||||||
Real estate - construction | 14,422 | 16,031 | 1,013 | 14,592 | 342 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 8,306 | 8,556 | 779 | 8,688 | 222 | ||||||||||||||||||
1-4 family mortgage | 6,168 | 6,390 | 1,007 | 6,178 | 247 | ||||||||||||||||||
Other mortgage | 4,453 | 4,551 | 135 | 4,513 | 295 | ||||||||||||||||||
Total real estate - mortgage | 18,927 | 19,497 | 1,921 | 19,379 | 764 | ||||||||||||||||||
Consumer | 135 | 344 | - | 296 | 6 | ||||||||||||||||||
Total impaired loans | $ | 37,394 | $ | 40,036 | $ | 3,511 | $ | 37,905 | $ | 1,307 | |||||||||||||
Analysis Of Troubled Debt Restructuring | The following table presents an analysis of TDRs as of September 30, 2013 and September 30, 2012. | ||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||
Pre- | Post- | Pre- | Post- | ||||||||||||||||||||
Modification | Modification | Modification | Modification | ||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
Commercial, financial and agricultural | 2 | $ | 1,017 | $ | 1,017 | 2 | $ | 1,216 | $ | 1,216 | |||||||||||||
Real estate - construction | - | - | - | 15 | 2,899 | 2,899 | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1 | 3,121 | 2,200 | 6 | 5,907 | 5,907 | |||||||||||||||||
1-4 family mortgage | 1 | 4,925 | 4,925 | 5 | 1,709 | 1,709 | |||||||||||||||||
Other mortgage | 1 | 291 | 291 | 1 | 304 | 304 | |||||||||||||||||
Total real estate - mortgage | 3 | 8,337 | 7,416 | 12 | 7,920 | 7,920 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
5 | $ | 9,354 | $ | 8,433 | 29 | $ | 12,035 | $ | 12,035 | ||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
That Subsequently Defaulted | |||||||||||||||||||||||
Commercial, financial and agricultural | - | $ | - | - | $ | - | |||||||||||||||||
Real estate - construction | - | - | - | - | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1 | 2,200 | - | - | |||||||||||||||||||
1-4 family mortgage | - | - | - | - | |||||||||||||||||||
Other mortgage | - | - | - | - | |||||||||||||||||||
Total real estate - mortgage | 1 | 2,200 | - | - | |||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||
1 | $ | 2,200 | - | $ | - | ||||||||||||||||||
EMPLOYEE_AND_DIRECTOR_BENEFITS1
EMPLOYEE AND DIRECTOR BENEFITS (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |||||||||||||||
Assumptions Used To Estimates Fair Value Of Stock Option Award Using Black Scholes Merton Valuation Model | The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of grant. | ||||||||||||||
2013 | 2012 | ||||||||||||||
Expected volatility | 18.5 | % | 19.88 | % | |||||||||||
Expected term (in years) | 7.5 years | 6 years | |||||||||||||
Risk-free rate | 1.39 | % | 1.03 | % | |||||||||||
Summary Of Stock Option Activity | The following table summarizes stock option activity during the nine months ended September 30, 2013 and September 30, 2012: | ||||||||||||||
Weighted | |||||||||||||||
Weighted | Average | ||||||||||||||
Average | Remaining | Aggregate | |||||||||||||
Exercise | Contractual | Intrinsic | |||||||||||||
Shares | Price | Term (years) | Value | ||||||||||||
(In Thousands) | |||||||||||||||
Nine Months Ended September 30, 2013: | |||||||||||||||
Outstanding at January 1, 2013 | 816,500 | $ | 20.87 | 5.8 | $ | 9,905 | |||||||||
Granted | 25,000 | 33 | 9.5 | ||||||||||||
Exercised | -43,000 | 14.42 | 2.8 | 1,054 | |||||||||||
Forfeited | -3,000 | 20 | 4.2 | 65 | |||||||||||
Outstanding at September 30, 2013 | 795,500 | 21.6 | 5.3 | $ | 15,828 | ||||||||||
Exercisable at September 30, 2013 | 517,744 | $ | 15.3 | 3.1 | $ | 13,563 | |||||||||
Nine Months Ended September 30, 2012: | |||||||||||||||
Outstanding at January 1, 2012 | 1,073,800 | $ | 18.33 | 6 | $ | 12,508 | |||||||||
Granted | 41,500 | 30 | 9.5 | ||||||||||||
Exercised | -54,036 | 11.07 | 3.3 | 1,023 | |||||||||||
Forfeited | -12,500 | 25.6 | 5.6 | 55 | |||||||||||
Outstanding at September 30, 2012 | 1,048,764 | 19.11 | 5.8 | $ | 11,440 | ||||||||||
Exercisable at September 30, 2012 | 443,589 | $ | 13.4 | 3.7 | $ | 7,363 | |||||||||
FAIR_VALUE_MEASUREMENT_Tables
FAIR VALUE MEASUREMENT (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||
Financial Assets And Liabilities Carried At Fair Value On Recurring Basis | The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | |||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable Inputs | Unobservable | ||||||||||||
Assets (Level 1) | (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Recurring Basis: | ||||||||||||||
Available-for-sale securities: | ||||||||||||||
U.S. Treasury and government sponsored agencies | $ | - | $ | 28,606 | $ | - | $ | 28,606 | ||||||
Mortgage-backed securities | - | 85,410 | - | 85,410 | ||||||||||
State and municipal securities | - | 126,545 | - | 126,545 | ||||||||||
Corporate debt | - | 15,824 | - | 15,824 | ||||||||||
Interest rate swap agreements | - | 194 | - | 194 | ||||||||||
Total assets at fair value | $ | - | $ | 256,579 | $ | - | $ | 256,579 | ||||||
Liabilities Measured on a Recurring Basis: | ||||||||||||||
Interest rate swap agreements | $ | - | $ | 194 | $ | - | $ | 194 | ||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable Inputs | Unobservable | ||||||||||||
Assets (Level 1) | (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Recurring Basis: | ||||||||||||||
Available-for-sale securities | ||||||||||||||
U.S. Treasury and government sponsored agencies | $ | - | $ | 28,386 | $ | - | $ | 28,386 | ||||||
Mortgage-backed securities | - | 73,466 | - | 73,466 | ||||||||||
State and municipal securities | - | 118,177 | - | 118,177 | ||||||||||
Corporate debt | - | 13,848 | - | 13,848 | ||||||||||
Interest rate swap agreements | - | 389 | - | 389 | ||||||||||
Total assets at fair value | - | 234,266 | - | 234,266 | ||||||||||
Liabilities Measured on a Recurring Basis: | ||||||||||||||
Interest rate swap agreements | $ | - | $ | 389 | $ | - | $ | 389 | ||||||
Financial Assets And Liabilities Carried At Fair Value On Nonrecurring Basis | The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of September 30, 2013 and December 31, 2012: | |||||||||||||
Fair Value Measurements at September 30, 2013 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable | Unobservable | ||||||||||||
Assets (Level 1) | Inputs (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | - | $ | 30,793 | $ | 30,793 | |||||||
Other real estate owned and repossessed assets | - | - | 14,258 | 14,258 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 45,051 | $ | 45,051 | ||||||
Fair Value Measurements at December 31, 2012 Using | ||||||||||||||
Quoted Prices in | ||||||||||||||
Active Markets | Significant Other | Significant | ||||||||||||
for Identical | Observable | Unobservable | ||||||||||||
Assets (Level 1) | Inputs (Level 2) | Inputs (Level 3) | Total | |||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 33,883 | $ | 33,883 | ||||||
Other real estate owned | - | - | 9,873 | 9,873 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 43,756 | $ | 43,756 | ||||||
Carrying Amount And Estimated Fair Value Of Financial Instruments | The carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2013 and December 31, 2012 are presented in the following table. | |||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||
Carrying | Carrying | |||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||
(In Thousands) | ||||||||||||||
Financial Assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Investment securities available for sale | $ | 249,457 | $ | 256,385 | $ | 233,877 | $ | 233,877 | ||||||
Investment securities held to maturity | 33,130 | 32,671 | 25,967 | 27,350 | ||||||||||
Restricted equity securities | 3,738 | 3,738 | 3,941 | 3,941 | ||||||||||
Mortgage loans held for sale | 11,592 | 11,592 | 25,826 | 25,826 | ||||||||||
Bank owned life insurance contracts | 68,460 | 68,460 | 57,014 | 57,014 | ||||||||||
Derivative | 194 | 194 | 389 | 389 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 2,703,046 | 2,705,685 | 2,336,924 | 2,327,780 | ||||||||||
Financial Liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | 2,919,217 | 2,921,406 | 2,511,572 | 2,516,320 | ||||||||||
Federal funds purchased | 170,090 | 170,090 | 117,065 | 117,065 | ||||||||||
Other borrowings | 19,932 | 19,932 | 19,917 | 19,917 | ||||||||||
Subordinated debentures | - | - | 15,050 | 15,050 | ||||||||||
Derivative | 194 | 194 | 389 | 389 | ||||||||||
EARNINGS_PER_COMMON_SHARE_Basi
EARNINGS PER COMMON SHARE (Basic And Diluted Earning Per Share) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings per common share | ||||
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 |
Net income available to common stockholders | $10,712 | $9,202 | $29,449 | $25,589 |
Basic earnings per common share | $1.53 | $1.53 | $4.35 | $4.28 |
Weighted average common shares outstanding | 7,019,069 | 6,005,242 | 6,768,678 | 5,977,590 |
Dilutive effects of assumed conversions and exercise of stock options and warrants | 302,842 | 942,187 | 437,840 | 954,088 |
Weighted average common and dilutive potential common shares outstanding | 7,321,911 | 6,947,429 | 7,206,518 | 6,931,678 |
Net income, available to common stockholders | 10,712 | 9,202 | 29,449 | 25,589 |
Effect of interest expense on convertible debt, net of tax and discretionary expenditures related to conversion | 0 | 143 | 0 | 426 |
Net income available to common stockholders, adjusted for effect of debt conversion | $10,712 | $9,345 | $29,449 | $26,015 |
Diluted earnings per common share | $1.46 | $1.35 | $4.10 | $3.75 |
SECURITIES_Amortized_Cost_And_
SECURITIES (Amortized Cost And Fair Value Of Available For Sale And Held To Maturity Securities) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Securities Available for Sale | ||
Amortized Cost | $249,457 | $222,654 |
Gross Unrealized Gain | 7,745 | 11,345 |
Gross Unrealized Loss | -817 | -122 |
Market Value | 256,385 | 233,877 |
Securities Held to Maturity | ||
Amortized Cost | 33,130 | 25,967 |
Gross Unrealized Gain | 614 | 1,423 |
Gross Unrealized Loss | -1,073 | -40 |
Market Value | 32,671 | 27,350 |
US Treasury and Government [Member] | ||
Securities Available for Sale | ||
Amortized Cost | 27,762 | 27,360 |
Gross Unrealized Gain | 844 | 1,026 |
Gross Unrealized Loss | 0 | 0 |
Market Value | 28,606 | 28,386 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities Available for Sale | ||
Amortized Cost | 82,347 | 69,298 |
Gross Unrealized Gain | 3,130 | 4,168 |
Gross Unrealized Loss | -67 | 0 |
Market Value | 85,410 | 73,466 |
Securities Held to Maturity | ||
Amortized Cost | 27,587 | 20,429 |
Gross Unrealized Gain | 369 | 768 |
Gross Unrealized Loss | -1,073 | -40 |
Market Value | 26,883 | 21,157 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities Available for Sale | ||
Amortized Cost | 123,631 | 112,319 |
Gross Unrealized Gain | 3,639 | 5,941 |
Gross Unrealized Loss | -725 | -83 |
Market Value | 126,545 | 118,177 |
Securities Held to Maturity | ||
Amortized Cost | 5,543 | 5,538 |
Gross Unrealized Gain | 245 | 655 |
Gross Unrealized Loss | 0 | 0 |
Market Value | 5,788 | 6,193 |
Corporate Debt Securities [Member] | ||
Securities Available for Sale | ||
Amortized Cost | 15,717 | 13,677 |
Gross Unrealized Gain | 132 | 210 |
Gross Unrealized Loss | -25 | -39 |
Market Value | $15,824 | $13,848 |
SECURITIES_Investment_Securiti
SECURITIES (Investment Securities Continuous Unrealized Loss Position) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than Twelve Months, Gross Unrealized Losses | ($1,888) | ($162) |
Less Than Twelve Months, Gross Unrealized Losses Fair value | 64,430 | 18,122 |
Twelve Months or More, Gross Unrealized Losses | -2 | 0 |
Twelve Months or More, Gross Unrealized Losses Fair value | 175 | 166 |
Total, Gross Unrealized Losses | -1,890 | -162 |
Total, Gross Unrealized Losses Fair value | 64,605 | 18,288 |
US Treasury and Government [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than Twelve Months, Gross Unrealized Losses | 0 | |
Less Than Twelve Months, Gross Unrealized Losses Fair value | 0 | |
Twelve Months or More, Gross Unrealized Losses | 0 | |
Twelve Months or More, Gross Unrealized Losses Fair value | 0 | |
Total, Gross Unrealized Losses | 0 | |
Total, Gross Unrealized Losses Fair value | 0 | |
Collateralized Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than Twelve Months, Gross Unrealized Losses | -1,140 | -40 |
Less Than Twelve Months, Gross Unrealized Losses Fair value | 25,668 | 4,439 |
Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
Twelve Months or More, Gross Unrealized Losses Fair value | 0 | 0 |
Total, Gross Unrealized Losses | -1,140 | -40 |
Total, Gross Unrealized Losses Fair value | 25,668 | 4,439 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than Twelve Months, Gross Unrealized Losses | -723 | -83 |
Less Than Twelve Months, Gross Unrealized Losses Fair value | 32,803 | 8,801 |
Twelve Months or More, Gross Unrealized Losses | -2 | 0 |
Twelve Months or More, Gross Unrealized Losses Fair value | 175 | 166 |
Total, Gross Unrealized Losses | -725 | -83 |
Total, Gross Unrealized Losses Fair value | 32,978 | 8,967 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than Twelve Months, Gross Unrealized Losses | -25 | -39 |
Less Than Twelve Months, Gross Unrealized Losses Fair value | 5,959 | 4,882 |
Twelve Months or More, Gross Unrealized Losses | 0 | 0 |
Twelve Months or More, Gross Unrealized Losses Fair value | 0 | 0 |
Total, Gross Unrealized Losses | -25 | -39 |
Total, Gross Unrealized Losses Fair value | $5,959 | $4,882 |
LOANS_Details_Of_Loans_Detail
LOANS (Details Of Loans) (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | $2,731,973 | $2,363,182 | ||||
Less allowance for loan losses | -28,927 | -28,757 | -26,258 | -24,604 | -23,239 | -22,030 |
Loans, net | 2,703,046 | 2,336,924 | ||||
Percentage of loan portfolio | 100.00% | 100.00% | ||||
Commercial, financial and agricultural Financing Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 1,222,953 | 1,030,990 | ||||
Less allowance for loan losses | -11,043 | -11,140 | -8,233 | -7,276 | -6,511 | -6,627 |
Percentage of loan portfolio | 44.76% | 43.63% | ||||
Commercial Real Estate Construction Financing Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 156,595 | 158,361 | ||||
Less allowance for loan losses | -5,490 | -5,453 | -6,511 | -6,053 | -7,582 | -6,542 |
Percentage of loan portfolio | 5.73% | 6.70% | ||||
Commercial Mortgage Loans Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 667,401 | 568,041 | ||||
Percentage of loan portfolio | 24.43% | 24.04% | ||||
One To Four Family Mortgage Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 262,144 | 235,909 | ||||
Percentage of loan portfolio | 9.60% | 9.98% | ||||
Other Real Estate Mortgage Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 379,490 | 323,599 | ||||
Percentage of loan portfolio | 13.89% | 13.69% | ||||
Residential Real Estate Mortgage Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 1,309,035 | 1,127,549 | ||||
Less allowance for loan losses | -5,395 | -6,039 | -4,912 | -4,807 | -3,640 | -3,295 |
Percentage of loan portfolio | 47.92% | 47.71% | ||||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 43,390 | 46,282 | ||||
Less allowance for loan losses | ($751) | ($224) | ($199) | ($303) | ($285) | ($531) |
Percentage of loan portfolio | 1.59% | 1.96% |
LOANS_Loans_By_Credit_Quality_
LOANS (Loans By Credit Quality Indicator) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $2,731,973 | $2,363,182 |
Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,222,953 | 1,030,990 |
Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 156,595 | 158,361 |
Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 667,401 | 568,041 |
One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 262,144 | 235,909 |
Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 379,490 | 323,599 |
Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,309,035 | 1,127,549 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 43,390 | 46,282 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,636,242 | 2,262,448 |
Pass [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,183,674 | 1,004,043 |
Pass [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 142,093 | 121,168 |
Pass [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 653,524 | 555,536 |
Pass [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 248,425 | 223,152 |
Pass [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 365,911 | 312,473 |
Pass [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,267,860 | 1,091,161 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 42,615 | 46,076 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 57,599 | 59,209 |
Special Mention [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 33,412 | 19,172 |
Special Mention [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,492 | 22,771 |
Special Mention [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,463 | 4,142 |
Special Mention [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,393 | 6,379 |
Special Mention [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,788 | 6,674 |
Special Mention [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 20,644 | 17,195 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51 | 71 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 38,132 | 41,525 |
Substandard [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,867 | 7,775 |
Substandard [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,010 | 14,422 |
Substandard [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,414 | 8,363 |
Substandard [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 12,326 | 6,378 |
Substandard [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,791 | 4,452 |
Substandard [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 20,531 | 19,193 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 724 | 135 |
Doubtful [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $0 | $0 |
LOANS_Loans_By_Performance_Sta
LOANS (Loans By Performance Status) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $2,731,973 | $2,363,182 |
Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,222,953 | 1,030,990 |
Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 156,595 | 158,361 |
Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 667,401 | 568,041 |
One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 262,144 | 235,909 |
Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 379,490 | 323,599 |
Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,309,035 | 1,127,549 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 43,390 | 46,282 |
Performing Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,722,577 | 2,352,824 |
Performing Financing Receivable [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,222,110 | 1,030,714 |
Performing Financing Receivable [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 152,037 | 151,901 |
Performing Financing Receivable [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 663,709 | 565,255 |
Performing Financing Receivable [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 262,144 | 235,456 |
Performing Financing Receivable [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 379,253 | 323,359 |
Performing Financing Receivable [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,305,106 | 1,124,070 |
Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 43,324 | 46,139 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,396 | 10,358 |
Nonperforming Financing Receivable [Member] | Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 843 | 276 |
Nonperforming Financing Receivable [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,558 | 6,460 |
Nonperforming Financing Receivable [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,692 | 2,786 |
Nonperforming Financing Receivable [Member] | One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 0 | 453 |
Nonperforming Financing Receivable [Member] | Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 237 | 240 |
Nonperforming Financing Receivable [Member] | Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,929 | 3,479 |
Nonperforming Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $66 | $143 |
LOANS_Loans_By_Past_Due_Status
LOANS (Loans By Past Due Status) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | $487 | $4,223 |
Past Due Status (Accruing Loans) 60-89 Days | 7,629 | 411 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 8 |
Past Due Status (Accruing Loans) Total Past Due | 8,116 | 4,642 |
Non-Accrual | 9,396 | 10,350 |
Current | 2,714,461 | 2,348,190 |
Total Loans | 2,731,973 | 2,363,182 |
Commercial, financial and agricultural Financing Receivable [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 82 | 1,699 |
Past Due Status (Accruing Loans) 60-89 Days | 971 | 385 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 1,053 | 2,084 |
Non-Accrual | 843 | 276 |
Current | 1,221,057 | 1,028,630 |
Total Loans | 1,222,953 | 1,030,990 |
Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 0 | 0 |
Past Due Status (Accruing Loans) 60-89 Days | 1,510 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 1,510 | 0 |
Non-Accrual | 4,558 | 6,460 |
Current | 150,527 | 151,901 |
Total Loans | 156,595 | 158,361 |
Commercial Mortgage Loans Owner Occupied [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 0 | 1,480 |
Past Due Status (Accruing Loans) 60-89 Days | 0 | 10 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 0 | 1,490 |
Non-Accrual | 3,692 | 2,786 |
Current | 663,709 | 563,765 |
Total Loans | 667,401 | 568,041 |
One To Four Family Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 349 | 420 |
Past Due Status (Accruing Loans) 60-89 Days | 5,148 | 16 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 5,497 | 436 |
Non-Accrual | 0 | 453 |
Current | 256,647 | 235,020 |
Total Loans | 262,144 | 235,909 |
Other Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 0 | 516 |
Past Due Status (Accruing Loans) 60-89 Days | 0 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 0 | 516 |
Non-Accrual | 237 | 240 |
Current | 379,253 | 322,843 |
Total Loans | 379,490 | 323,599 |
Residential Real Estate Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 349 | 2,416 |
Past Due Status (Accruing Loans) 60-89 Days | 5,148 | 26 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 5,497 | 2,442 |
Non-Accrual | 3,929 | 3,479 |
Current | 1,299,609 | 1,121,628 |
Total Loans | 1,309,035 | 1,127,549 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Past Due Status (Accruing Loans) 30-59 Days | 56 | 108 |
Past Due Status (Accruing Loans) 60-89 Days | 0 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 8 |
Past Due Status (Accruing Loans) Total Past Due | 56 | 116 |
Non-Accrual | 66 | 135 |
Current | 43,268 | 46,031 |
Total Loans | $43,390 | $46,282 |
LOANS_Analysis_of_Allowance_Fo
LOANS (Analysis of Allowance For Loan Losses By Portfolio Segment) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Allowance for loan losses: | |||||
Begining Balance | $28,757 | $23,239 | $26,258 | $22,030 | |
Chargeoffs | -3,031 | -474 | -8,297 | -4,851 | |
Recoveries | 167 | 654 | 314 | 774 | |
Provision | 3,034 | 1,185 | 10,652 | 6,651 | |
Ending Balance | 28,927 | 24,604 | 28,927 | 24,604 | |
Individually Evaluated for Impairment | 5,348 | 5,348 | 3,511 | ||
Collectively Evaluated for Impairment | 23,579 | 23,579 | 22,747 | ||
Ending Balance | 2,731,973 | 2,731,973 | 2,363,182 | ||
Individually Evaluated for Impairment | 36,141 | 36,141 | 37,394 | ||
Collectively Evaluated for Impairment | 2,695,832 | 2,695,832 | 2,325,788 | ||
Commercial, financial and agricultural Financing Receivable [Member] | |||||
Allowance for loan losses: | |||||
Begining Balance | 11,140 | 6,511 | 8,233 | 6,627 | |
Chargeoffs | -849 | -349 | -1,838 | -898 | |
Recoveries | 13 | 24 | 50 | 124 | |
Provision | 739 | 1,090 | 4,598 | 1,423 | |
Ending Balance | 11,043 | 7,276 | 11,043 | 7,276 | |
Individually Evaluated for Impairment | 1,817 | 1,817 | 577 | ||
Collectively Evaluated for Impairment | 9,226 | 9,226 | 7,656 | ||
Ending Balance | 1,222,953 | 1,222,953 | 1,030,990 | ||
Individually Evaluated for Impairment | 4,048 | 4,048 | 3,910 | ||
Collectively Evaluated for Impairment | 1,218,905 | 1,218,905 | 1,027,080 | ||
Commercial Real Estate Construction Financing Receivable [Member] | |||||
Allowance for loan losses: | |||||
Begining Balance | 5,453 | 7,582 | 6,511 | 6,542 | |
Chargeoffs | -394 | -16 | -4,271 | -2,935 | |
Recoveries | 124 | 47 | 226 | 55 | |
Provision | 307 | -1,560 | 3,024 | 2,391 | |
Ending Balance | 5,490 | 6,053 | 5,490 | 6,053 | |
Individually Evaluated for Impairment | 1,363 | 1,363 | 1,013 | ||
Collectively Evaluated for Impairment | 4,127 | 4,127 | 5,498 | ||
Ending Balance | 156,595 | 156,595 | 158,361 | ||
Individually Evaluated for Impairment | 11,010 | 11,010 | 14,422 | ||
Collectively Evaluated for Impairment | 145,585 | 145,585 | 143,939 | ||
Residential Real Estate Mortgage Loans [Member] | |||||
Allowance for loan losses: | |||||
Begining Balance | 6,039 | 3,640 | 4,912 | 3,295 | |
Chargeoffs | -1,746 | -30 | -2,016 | -311 | |
Recoveries | 24 | 582 | 28 | 588 | |
Provision | 1,078 | 615 | 2,471 | 1,235 | |
Ending Balance | 5,395 | 4,807 | 5,395 | 4,807 | |
Individually Evaluated for Impairment | 1,576 | 1,576 | 1,921 | ||
Collectively Evaluated for Impairment | 3,819 | 3,819 | 2,991 | ||
Ending Balance | 1,309,035 | 1,309,035 | 1,127,549 | ||
Individually Evaluated for Impairment | 20,475 | 20,475 | 18,927 | ||
Collectively Evaluated for Impairment | 1,288,560 | 1,288,560 | 1,108,622 | ||
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses: | |||||
Begining Balance | 224 | 285 | 199 | 531 | |
Chargeoffs | -42 | -79 | -172 | -707 | |
Recoveries | 6 | 1 | 10 | 7 | |
Provision | 563 | 96 | 714 | 472 | |
Ending Balance | 751 | 303 | 751 | 303 | |
Individually Evaluated for Impairment | 592 | 592 | 0 | ||
Collectively Evaluated for Impairment | 159 | 159 | 199 | ||
Ending Balance | 43,390 | 43,390 | 46,282 | ||
Individually Evaluated for Impairment | 608 | 608 | 135 | ||
Collectively Evaluated for Impairment | 42,782 | 42,782 | 46,147 | ||
Unallocated Financing Receivables [Member] | |||||
Allowance for loan losses: | |||||
Begining Balance | 5,901 | 5,221 | 6,403 | 5,035 | |
Chargeoffs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 347 | 944 | -155 | 1,130 | |
Ending Balance | 6,248 | 6,165 | 6,248 | 6,165 | |
Individually Evaluated for Impairment | 0 | 0 | 0 | ||
Collectively Evaluated for Impairment | 6,248 | 6,248 | 6,403 | ||
Ending Balance | 0 | 0 | 0 | ||
Individually Evaluated for Impairment | 0 | 0 | 0 | ||
Collectively Evaluated for Impairment | $0 | $0 | $0 |
LOANS_Details_Of_Companys_Impa
LOANS (Details Of Company's Impaired Loans) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | $13,730 | $13,730 | $21,037 |
Unpaid Principal Balance, with no allowance recorded | 14,893 | 14,893 | 23,092 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 13,936 | 13,518 | 22,034 |
Interest Income Recognized in Period, with no allowance recorded | 115 | 393 | 827 |
Recorded Investment, with allowance recorded | 22,411 | 22,411 | 16,357 |
Unpaid Principal Balance, with allowance recorded | 22,851 | 22,851 | 16,944 |
Related Allowance, with allowance recorded | 5,348 | 5,348 | 3,511 |
Average Recorded Investment , with allowance recorded | 22,455 | 22,428 | 15,871 |
Interest Income Recognized in Period, with allowance recorded | 170 | 564 | 480 |
Recorded Investment | 36,141 | 36,141 | 37,394 |
Unpaid Principal Balance | 37,744 | 37,744 | 40,036 |
Related Allowance | 5,348 | 5,348 | 3,511 |
Average Recorded Investment | 36,391 | 35,946 | 37,905 |
Interest Income Recognized in Period | 285 | 957 | 1,307 |
Commercial, financial and agricultural Financing Receivable [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 856 | 856 | 2,602 |
Unpaid Principal Balance, with no allowance recorded | 876 | 876 | 2,856 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 875 | 875 | 2,313 |
Interest Income Recognized in Period, with no allowance recorded | 11 | 33 | 105 |
Recorded Investment, with allowance recorded | 3,192 | 3,192 | 1,308 |
Unpaid Principal Balance, with allowance recorded | 3,632 | 3,632 | 1,308 |
Related Allowance, with allowance recorded | 1,817 | 1,817 | 577 |
Average Recorded Investment , with allowance recorded | 3,622 | 3,573 | 1,325 |
Interest Income Recognized in Period, with allowance recorded | 21 | 106 | 90 |
Recorded Investment | 4,048 | 4,048 | 3,910 |
Unpaid Principal Balance | 4,508 | 4,508 | 4,164 |
Related Allowance | 1,817 | 1,817 | 577 |
Average Recorded Investment | 4,497 | 4,448 | 3,638 |
Interest Income Recognized in Period | 32 | 139 | 195 |
Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 5,217 | 5,217 | 6,872 |
Unpaid Principal Balance, with no allowance recorded | 6,135 | 6,135 | 7,894 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 4,847 | 4,201 | 7,631 |
Interest Income Recognized in Period, with no allowance recorded | 35 | 113 | 188 |
Recorded Investment, with allowance recorded | 5,793 | 5,793 | 7,550 |
Unpaid Principal Balance, with allowance recorded | 5,793 | 5,793 | 8,137 |
Related Allowance, with allowance recorded | 1,363 | 1,363 | 1,013 |
Average Recorded Investment , with allowance recorded | 5,572 | 5,309 | 6,961 |
Interest Income Recognized in Period, with allowance recorded | 41 | 126 | 154 |
Recorded Investment | 11,010 | 11,010 | 14,422 |
Unpaid Principal Balance | 11,928 | 11,928 | 16,031 |
Related Allowance | 1,363 | 1,363 | 1,013 |
Average Recorded Investment | 10,419 | 9,510 | 14,592 |
Interest Income Recognized in Period | 76 | 239 | 342 |
Commercial Mortgage Loans Owner Occupied [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 2,792 | 2,792 | 5,111 |
Unpaid Principal Balance, with no allowance recorded | 2,918 | 2,918 | 5,361 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 2,884 | 2,923 | 5,411 |
Interest Income Recognized in Period, with no allowance recorded | 8 | 51 | 145 |
Recorded Investment, with allowance recorded | 1,566 | 1,566 | 3,195 |
Unpaid Principal Balance, with allowance recorded | 1,566 | 1,566 | 3,195 |
Related Allowance, with allowance recorded | 527 | 527 | 779 |
Average Recorded Investment , with allowance recorded | 1,571 | 1,582 | 3,277 |
Interest Income Recognized in Period, with allowance recorded | -16 | 19 | 77 |
Recorded Investment | 4,358 | 4,358 | 8,306 |
Unpaid Principal Balance | 4,484 | 4,484 | 8,556 |
Related Allowance | 527 | 527 | 779 |
Average Recorded Investment | 4,455 | 4,505 | 8,688 |
Interest Income Recognized in Period | -8 | 70 | 222 |
One To Four Family Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 1,349 | 1,349 | 2,166 |
Unpaid Principal Balance, with no allowance recorded | 1,349 | 1,349 | 2,388 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 1,350 | 1,352 | 2,177 |
Interest Income Recognized in Period, with no allowance recorded | 15 | 45 | 108 |
Recorded Investment, with allowance recorded | 10,977 | 10,977 | 4,002 |
Unpaid Principal Balance, with allowance recorded | 10,977 | 10,977 | 4,002 |
Related Allowance, with allowance recorded | 973 | 973 | 1,007 |
Average Recorded Investment , with allowance recorded | 10,804 | 10,968 | 4,001 |
Interest Income Recognized in Period, with allowance recorded | 111 | 268 | 139 |
Recorded Investment | 12,326 | 12,326 | 6,168 |
Unpaid Principal Balance | 12,326 | 12,326 | 6,390 |
Related Allowance | 973 | 973 | 1,007 |
Average Recorded Investment | 12,154 | 12,320 | 6,178 |
Interest Income Recognized in Period | 126 | 313 | 247 |
Other Real Estate Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 3,500 | 3,500 | 4,151 |
Unpaid Principal Balance, with no allowance recorded | 3,599 | 3,599 | 4,249 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 3,963 | 4,147 | 4,206 |
Interest Income Recognized in Period, with no allowance recorded | 46 | 150 | 275 |
Recorded Investment, with allowance recorded | 291 | 291 | 302 |
Unpaid Principal Balance, with allowance recorded | 291 | 291 | 302 |
Related Allowance, with allowance recorded | 76 | 76 | 135 |
Average Recorded Investment , with allowance recorded | 293 | 298 | 307 |
Interest Income Recognized in Period, with allowance recorded | 5 | 15 | 20 |
Recorded Investment | 3,791 | 3,791 | 4,453 |
Unpaid Principal Balance | 3,890 | 3,890 | 4,551 |
Related Allowance | 76 | 76 | 135 |
Average Recorded Investment | 4,256 | 4,445 | 4,513 |
Interest Income Recognized in Period | 51 | 165 | 295 |
Residential Real Estate Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 7,641 | 7,641 | 11,428 |
Unpaid Principal Balance, with no allowance recorded | 7,866 | 7,866 | 11,998 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 8,197 | 8,422 | 11,794 |
Interest Income Recognized in Period, with no allowance recorded | 69 | 246 | 528 |
Recorded Investment, with allowance recorded | 12,834 | 12,834 | 7,499 |
Unpaid Principal Balance, with allowance recorded | 12,834 | 12,834 | 7,499 |
Related Allowance, with allowance recorded | 1,576 | 1,576 | 1,921 |
Average Recorded Investment , with allowance recorded | 12,668 | 12,848 | 7,585 |
Interest Income Recognized in Period, with allowance recorded | 100 | 302 | 236 |
Recorded Investment | 20,475 | 20,475 | 18,927 |
Unpaid Principal Balance | 20,700 | 20,700 | 19,497 |
Related Allowance | 1,576 | 1,576 | 1,921 |
Average Recorded Investment | 20,865 | 21,270 | 19,379 |
Interest Income Recognized in Period | 169 | 548 | 764 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Recorded Investment, with no allowance recorded | 16 | 16 | 135 |
Unpaid Principal Balance, with no allowance recorded | 16 | 16 | 344 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 17 | 20 | 296 |
Interest Income Recognized in Period, with no allowance recorded | 0 | 1 | 6 |
Recorded Investment, with allowance recorded | 592 | 592 | |
Unpaid Principal Balance, with allowance recorded | 592 | 592 | |
Related Allowance, with allowance recorded | 592 | 592 | |
Average Recorded Investment , with allowance recorded | 593 | 698 | |
Interest Income Recognized in Period, with allowance recorded | 8 | 30 | |
Recorded Investment | 608 | 608 | 135 |
Unpaid Principal Balance | 608 | 608 | 344 |
Related Allowance | 592 | 592 | 0 |
Average Recorded Investment | 610 | 718 | 296 |
Interest Income Recognized in Period | $8 | $31 | $6 |
LOANS_Analysis_Of_Troubled_Deb
LOANS (Analysis Of Troubled Debt Restructuring) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Contracts | Contracts | ||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 5 | 29 | |
Pre- Modification Outstanding Recorded Investment | $9,354 | $12,035 | |
Post- Modification Outstanding Recorded Investment | 8,433 | 12,035 | 12,300 |
Number of Contracts | 1 | 0 | |
Recorded Investment | 2,200 | 0 | |
Commercial, financial and agricultural Financing Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 2 | 2 | |
Pre- Modification Outstanding Recorded Investment | 1,017 | 1,216 | |
Post- Modification Outstanding Recorded Investment | 1,017 | 1,216 | |
Number of Contracts | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 0 | 15 | |
Pre- Modification Outstanding Recorded Investment | 0 | 2,899 | |
Post- Modification Outstanding Recorded Investment | 0 | 2,899 | |
Number of Contracts | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Commercial Mortgage Loans Owner Occupied [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 1 | 6 | |
Pre- Modification Outstanding Recorded Investment | 3,121 | 5,907 | |
Post- Modification Outstanding Recorded Investment | 2,200 | 5,907 | |
Number of Contracts | 1 | 0 | |
Recorded Investment | 2,200 | 0 | |
One To Four Family Mortgage Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 1 | 5 | |
Pre- Modification Outstanding Recorded Investment | 4,925 | 1,709 | |
Post- Modification Outstanding Recorded Investment | 4,925 | 1,709 | |
Number of Contracts | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Other Real Estate Mortgage Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 1 | 1 | |
Pre- Modification Outstanding Recorded Investment | 291 | 304 | |
Post- Modification Outstanding Recorded Investment | 291 | 304 | |
Number of Contracts | 0 | 0 | |
Recorded Investment | 0 | 0 | |
Residential Real Estate Mortgage Loans [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 3 | 12 | |
Pre- Modification Outstanding Recorded Investment | 8,337 | 7,920 | |
Post- Modification Outstanding Recorded Investment | 7,416 | 7,920 | |
Number of Contracts | 1 | 0 | |
Recorded Investment | 2,200 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable Modifications [Line Items] | |||
Number of Contracts | 0 | 0 | |
Pre- Modification Outstanding Recorded Investment | 0 | 0 | |
Post- Modification Outstanding Recorded Investment | 0 | 0 | |
Number of Contracts | 0 | 0 | |
Recorded Investment | $0 | $0 |
LOANS_Additional_Information_D
LOANS (Additional Information) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Statement [Line Items] | |||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $8,433,000 | $12,035,000 | $12,300,000 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 800,000 | 1,400,000 | 1,400,000 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 2,200,000 | 0 | |
Three TDR loans [Member] | |||
Statement [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 3,100,000 | ||
Two TDR loans [Member] | |||
Statement [Line Items] | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 900,000 | ||
Financing Receivable, Modifications, Recorded Investment | $2,200,000 |
EMPLOYEE_AND_DIRECTOR_BENEFITS2
EMPLOYEE AND DIRECTOR BENEFITS (Assumptions Used To Estimates Fair Value Of Stock Option Award Using Black Scholes Merton Valuation Model) (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 18.50% | 19.88% |
Expected term (in years) | 7 years 6 months | 6 years |
Risk-free rate | 1.39% | 1.03% |
EMPLOYEE_AND_DIRECTOR_BENEFITS3
EMPLOYEE AND DIRECTOR BENEFITS (Summary Of Stock Option Activity) (Detail) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares, Outstanding at beginning of year | 816,500 | 1,073,800 |
Shares, Granted | 25,000 | 41,500 |
Shares, Exercised | -43,000 | -54,036 |
Shares, Forfeited | -3,000 | -12,500 |
Shares, Outstanding at end of year | 795,500 | 1,048,764 |
Shares, Exercisable | 517,744 | 443,589 |
Weighted Average Exercise Price, Outstanding at beginning of year | $20.87 | $18.33 |
Weighted Average Exercise Price, Granted | $33 | $30 |
Weighted Average Exercise Price, Exercised | $14.42 | $11.07 |
Weighted Average Exercise Price, Forfeited | $20 | $25.60 |
Weighted Average Exercise Price, Outstanding at end of year | $21.60 | $19.11 |
Weighted Average Exercise Price, Exercisable | $15.30 | $13.40 |
Weighted Average Remaining Contractual Term (years), Outstanding at beginning of year | 5 years 9 months 18 days | 6 years |
Weighted Average Remaining Contractual Term (years), Granted | 9 years 6 months | 9 years 6 months |
Weighted Average Remaining Contractual Term (years), Exercised | 2 years 9 months 18 days | 3 years 3 months 18 days |
Weighted Average Remaining Contractual Term (years), Forfeited | 4 years 2 months 12 days | 5 years 7 months 6 days |
Weighted Average Remaining Contractual Term (years), Outstanding at end of year | 5 years 3 months 18 days | 5 years 9 months 18 days |
Weighted Average Remaining Contractual Term (years), Exercisable | 3 years 1 month 6 days | 3 years 8 months 12 days |
Aggregate Intrinsic Value, Outstanding at beginning of year | $9,905 | $12,508 |
Aggregate Intrinsic Value, Exercised | 1,054 | 1,023 |
Aggregate Intrinsic Value, Forfeited | 65 | 55 |
Aggregate Intrinsic Value, Outstanding at end of year | 15,828 | 11,440 |
Aggregate Intrinsic Value, Exercisable | $13,563 | $7,363 |
EMPLOYEE_AND_DIRECTOR_BENEFITS4
EMPLOYEE AND DIRECTOR BENEFITS (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share based compensation | $308,000 | $226,000 | $889,000 | $788,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $8.03 | $6.52 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 1,448,000 | 1,448,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 1 year 4 months 24 days | |||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | 71,000 | |||
Restricted Stock [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $1,288,000 | $1,288,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 3 years 4 months 24 days | |||
Share issued during the period | 16,000 | |||
Plan 2005 [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Shares available for grant | 1,025,000 | 1,025,000 | ||
Plan 2009 [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Shares available for grant | 425,000 | 425,000 | ||
Non Plan Stock Option [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Shares available for grant | 55,000 | 55,000 | ||
Non Plan Stock Option [Member] | Minimum [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share Price | $15 | $15 | ||
Non Plan Stock Option [Member] | Maximum [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Share Price | $20 | $20 |
DERIVATIVES_Additional_Informa
DERIVATIVES- Additional Information (Detail) (USD $) | Sep. 30, 2013 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative | $194,000 |
Regional Correspondent Bank [Member] | Interest Rate Swap [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative, Notional Amount | 4,500,000 |
Customers [Member] | Interest Rate Swap [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative, Notional Amount | $4,500,000 |
FAIR_VALUE_MEASUREMENT_Financi
FAIR VALUE MEASUREMENT (Financial Assets And Financial Liabilities Carried At Fair Value On A Recurring Basis) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | $256,385 | $233,877 |
Derivative assets | 194 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 256,579 | 234,266 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 28,606 | 28,386 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 85,410 | 73,466 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 126,545 | 118,177 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 15,824 | 13,848 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 194 | 389 |
Derivative liabilities | 194 | 389 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 256,579 | 234,266 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 28,606 | 28,386 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 85,410 | 73,466 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 126,545 | 118,177 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities: | 15,824 | 13,848 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 194 | 389 |
Derivative liabilities | $194 | $389 |
FAIR_VALUE_MEASUREMENT_Carryin
FAIR VALUE MEASUREMENT (Carrying Amount And Estimated Fair Value Of Financial Instruments) (Detail) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired loans | $30,793 | $33,883 |
Other real estate owned and repossessed assets | 14,258 | 9,873 |
Total assets at fair value | 45,051 | 43,756 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 30,793 | 33,883 |
Other real estate owned and repossessed assets | 14,258 | 9,873 |
Total assets at fair value | $45,051 | $43,756 |
FAIR_VALUE_MEASUREMENT_Financi1
FAIR VALUE MEASUREMENT (Financial Assets And Liabilities Carried At Fair Value On Nonrecurring Basis) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ||
Investment securities available for sale | $256,385 | $233,877 |
Investment securities held to maturity | 33,130 | 25,967 |
Restricted equity securities | 3,738 | 3,941 |
Mortgage loans held for sale | 11,592 | 25,826 |
Bank owned life insurance contracts | 68,460 | 57,014 |
Derivative | 194 | |
Loans, net | 2,703,046 | 2,336,924 |
Financial Liabilities: | ||
Federal funds purchased | 170,090 | 117,065 |
Other borrowings | 19,932 | 19,917 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Investment securities available for sale | 249,457 | 233,877 |
Investment securities held to maturity | 33,130 | 25,967 |
Restricted equity securities | 3,738 | 3,941 |
Mortgage loans held for sale | 11,592 | 25,826 |
Bank owned life insurance contracts | 68,460 | 57,014 |
Derivative | 194 | 389 |
Financial Liabilities: | ||
Deposits | 2,919,217 | 2,511,572 |
Federal funds purchased | 170,090 | 117,065 |
Other borrowings | 19,932 | 19,917 |
Subordinated debentures | 0 | 15,050 |
Derivative | 194 | 389 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Loans, net | 2,703,046 | 2,336,924 |
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Investment securities available for sale | 256,385 | 233,877 |
Investment securities held to maturity | 32,671 | 27,350 |
Restricted equity securities | 3,738 | 3,941 |
Mortgage loans held for sale | 11,592 | 25,826 |
Bank owned life insurance contracts | 68,460 | 57,014 |
Derivative | 194 | 389 |
Financial Liabilities: | ||
Deposits | 2,921,406 | 2,516,320 |
Federal funds purchased | 170,090 | 117,065 |
Other borrowings | 19,932 | 19,917 |
Subordinated debentures | 0 | 15,050 |
Derivative | 194 | 389 |
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Loans, net | $2,705,685 | $2,327,780 |
FAIR_VALUE_MEASUREMENT_Additio
FAIR VALUE MEASUREMENT (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Asset Impairment Charges | $2,301,000 | $1,246,000 | $7,983,000 | $4,946,000 |
Real Estate Owned, Amount of Loss at Acquisition | $302,000 | $933,000 | $813,000 | $1,416,000 |