Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 27, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'ServisFirst Bancshares, Inc. | ' |
Entity Central Index Key | '0001430723 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Trading Symbol | 'SFBS | ' |
Entity Common Stock, Shares Outstanding | ' | 24,791,436 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $59,483 | $61,370 |
Interest-bearing balances due from depository institutions | 277,984 | 188,411 |
Federal funds sold | 6,566 | 8,634 |
Cash and cash equivalents | 344,033 | 258,415 |
Available for sale debt securities, at fair value | 302,303 | 266,220 |
Held to maturity debt securities (fair value of $30,248 and $31,315 at September 30, 2014 and December 31, 2013, respectively) | 30,048 | 32,274 |
Restricted equity securities | 3,418 | 3,738 |
Mortgage loans held for sale | 9,037 | 8,134 |
Loans | 3,159,772 | 2,858,868 |
Less allowance for loan losses | -34,442 | -30,663 |
Loans, net | 3,125,330 | 2,828,205 |
Premises and equipment, net | 7,958 | 8,351 |
Accrued interest and dividends receivable | 10,882 | 10,262 |
Deferred tax assets | 15,620 | 11,018 |
Other real estate owned and repossessed assets | 6,940 | 12,861 |
Bank owned life insurance contracts | 85,639 | 69,008 |
Other assets | 11,591 | 12,213 |
Total assets | 3,952,799 | 3,520,699 |
Deposits: | ' | ' |
Noninterest-bearing | 794,553 | 650,456 |
Interest-bearing | 2,558,213 | 2,369,186 |
Total deposits | 3,352,766 | 3,019,642 |
Federal funds purchased | 178,230 | 174,380 |
Other borrowings | 19,965 | 19,940 |
Accrued interest payable | 2,204 | 769 |
Other liabilities | 6,498 | 8,776 |
Total liabilities | 3,559,663 | 3,223,507 |
Stockholders' equity: | ' | ' |
Common stock, par value $.001 per share; 50,000,000 shares authorized; 24,791,436 shares issued and outstanding at September 30, 2014 and 22,050,036 shares issued and outstanding at December 31, 2013 | 25 | 7 |
Additional paid-in capital | 184,797 | 123,325 |
Retained earnings | 163,414 | 130,011 |
Accumulated other comprehensive income | 4,690 | 3,891 |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 392,884 | 297,192 |
Noncontrolling interest | 252 | 0 |
Total Stockholders' equity | 393,136 | 297,192 |
Total liabilities and stockholders' equity | 3,952,799 | 3,520,699 |
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, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Held to maturity debt securities, fair value | $30,248 | $31,315 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 24,791,436 | 22,050,036 |
Common stock, shares outstanding | 24,791,436 | 22,050,036 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Interest and fees on loans | $34,662 | $30,475 | $100,164 | $86,667 |
Taxable securities | 1,131 | 980 | 3,354 | 2,851 |
Nontaxable securities | 877 | 858 | 2,618 | 2,537 |
Federal funds sold | 38 | 44 | 118 | 77 |
Other interest and dividends | 149 | 142 | 308 | 224 |
Total interest income | 36,857 | 32,499 | 106,562 | 92,356 |
Interest expense: | ' | ' | ' | ' |
Deposits | 3,123 | 3,131 | 9,164 | 8,628 |
Borrowed funds | 415 | 403 | 1,252 | 1,381 |
Total interest expense | 3,538 | 3,534 | 10,416 | 10,009 |
Net interest income | 33,319 | 28,965 | 96,146 | 82,347 |
Provision for loan losses | 2,748 | 3,034 | 7,500 | 10,652 |
Net interest income after provision for loan losses | 30,571 | 25,931 | 88,646 | 71,695 |
Noninterest income: | ' | ' | ' | ' |
Service charges on deposit accounts | 1,172 | 823 | 3,097 | 2,391 |
Mortgage banking | 582 | 402 | 1,540 | 2,154 |
Securities gains | 3 | 0 | 3 | 131 |
Increase in cash surrender value life insurance | 549 | 491 | 1,631 | 1,446 |
Other operating income | 700 | 553 | 1,848 | 1,517 |
Total noninterest income | 3,006 | 2,269 | 8,119 | 7,639 |
Noninterest expenses: | ' | ' | ' | ' |
Salaries and employee benefits | 7,890 | 7,048 | 24,685 | 19,783 |
Equipment and occupancy expense | 1,437 | 1,272 | 4,212 | 3,852 |
Professional services | 829 | 443 | 1,877 | 1,329 |
FDIC and other regulatory assessments | 533 | 405 | 1,578 | 1,263 |
OREO expense | 220 | 357 | 1,005 | 951 |
Other operating expenses | 4,406 | 2,542 | 11,098 | 8,013 |
Total noninterest expenses | 15,315 | 12,067 | 44,455 | 35,191 |
Income before income taxes | 18,262 | 16,133 | 52,310 | 44,143 |
Provision for income taxes | 4,260 | 5,321 | 14,965 | 14,394 |
Net income | 14,002 | 10,812 | 37,345 | 29,749 |
Preferred stock dividends | 100 | 100 | 316 | 300 |
Net income available to common stockholders | $13,902 | $10,712 | $37,029 | $29,449 |
Basic earnings per common share | $0.56 | $0.51 | $1.57 | $1.45 |
Diluted earnings per common share | $0.54 | $0.49 | $1.51 | $1.37 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net income | $14,002 | $10,812 | $37,345 | $29,749 |
Other comprehensive (loss) income, net of tax: | ' | ' | ' | ' |
Unrealized holding (losses) gains arising during period from securities available for sale, net of tax of $(331) and $424 for the three and nine months ended September 30, 2014, respectively, and $199 and $(1,458) for the three and nine months ended September 30, 2013, respectively | -614 | 369 | 801 | -2,708 |
Reclassification adjustment for net gains on sale of securities in net income, net of tax of $1 for the three and nine months ended September 30, 2014, and $46 for the nine months ended September 30, 2013 | -2 | 0 | -2 | -85 |
Other comprehensive (loss) income, net of tax | -616 | 369 | 799 | -2,793 |
Comprehensive income | $13,386 | $11,181 | $38,144 | $26,956 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Unrealized holding (losses) gains arising during period from securities available for sale | ($331) | $199 | $424 | ($1,458) |
Reclassification adjustment for net gains on sale of securities in net income | $1 | ' | $1 | $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 [Member] | Noncontrolling Interest [Member] |
In Thousands | |||||||
Beginning Balance at Dec. 31, 2012 | $233,257 | $39,958 | $6 | $93,505 | $92,492 | $7,296 | $0 |
Common dividends paid | -12 | 0 | 0 | 0 | -12 | 0 | 0 |
Common dividends declared | -3,538 | 0 | 0 | 0 | -3,538 | 0 | 0 |
Preferred dividends paid | -300 | 0 | 0 | 0 | -300 | 0 | 0 |
Issue 1,875,000 shares of common stock, net of issuance cost of $4,777 | 1,416 | ' | ' | ' | ' | ' | ' |
Exercise 866,400 stock options and warrants, including tax benefit of $881 | 2,632 | 0 | 0 | 2,632 | 0 | 0 | 0 |
convertible debentures | 15,000 | 0 | 1 | 14,999 | 0 | 0 | 0 |
Common stock issued | 1,416 | 0 | 0 | 1,416 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | -2,793 | 0 | 0 | 0 | 0 | -2,793 | 0 |
Stock-based compensation expense | 889 | 0 | 0 | 889 | 0 | 0 | 0 |
Net income | 29,749 | 0 | 0 | 0 | 29,749 | 0 | 0 |
Ending Balance at Sep. 30, 2013 | 276,300 | 39,958 | 7 | 113,441 | 118,391 | 4,503 | 0 |
Beginning Balance at Dec. 31, 2013 | 297,192 | 39,958 | 7 | 123,325 | 130,011 | 3,891 | 0 |
Common dividends paid | -2,369 | 0 | 0 | 0 | -2,369 | 0 | 0 |
Common dividends declared | -1,240 | 0 | 0 | 0 | -1,240 | 0 | 0 |
Preferred dividends paid | -316 | 0 | 0 | 0 | -316 | 0 | 0 |
3-for-1 common stock split, in the form of a stock dividend | 0 | 0 | 17 | 0 | -17 | 0 | 0 |
Issue 1,875,000 shares of common stock, net of issuance cost of $4,777 | 52,098 | 0 | 1 | 52,097 | 0 | 0 | 0 |
Issue 250 shares of REIT preferred stock | 250 | 0 | 0 | 0 | 0 | 0 | 250 |
Exercise 866,400 stock options and warrants, including tax benefit of $881 | 5,972 | 0 | 0 | 5,972 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 799 | 0 | 0 | 0 | 0 | 799 | 0 |
Stock-based compensation expense | 3,403 | 0 | 0 | 3,403 | 0 | 0 | 0 |
Net income | 37,347 | 0 | 0 | 0 | 37,345 | 0 | 2 |
Ending Balance at Sep. 30, 2014 | $393,136 | $39,958 | $25 | $184,797 | $163,414 | $4,690 | $252 |
CONSOLIDATED_STATEMENT_OF_STOC1
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Stock Options And Warrants Exercised | 866,400 | 113,500 |
Stock option and Warrants Exercised Tax Benefits | $881 | $243 |
Conversion of Stock, Shares Issued | ' | 1,800,000 |
Payments of Stock Issuance Costs | $4,777 | ' |
Common Dividends Paid Per Share | $0.10 | ' |
Common Dividends Declared Per Share | $0.05 | $0.50 |
Common Stock [Member] | ' | ' |
Stock Issued During Period, Shares, New Issues | 1,875,000 | ' |
Preferred Stock [Member] | ' | ' |
Stock Issued During Period, Shares, New Issues | 250 | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net income | $37,345 | $29,749 |
Adjustments to reconcile net income to net cash provided by: | ' | ' |
Deferred tax benefit | -5,032 | -270 |
Provision for loan losses | 7,500 | 10,652 |
Depreciation and amortization | 1,497 | 1,356 |
Net amortization of investments | 2,673 | 712 |
Increase in accrued interest and dividends receivable | -620 | -446 |
Stock-based compensation expense | 3,403 | 889 |
Increase in accrued interest payable | 1,435 | 73 |
Proceeds from sale of mortgage loans held for sale | 73,979 | 151,767 |
Originations of mortgage loans held for sale | -73,342 | -136,024 |
Gain on sale of debt securities available for sale | -3 | -131 |
Gain on sale of mortgage loans held for sale | -1,540 | -2,199 |
Net loss on sale of other real estate owned | 362 | 135 |
Write down of other real estate owned | 423 | 402 |
Decrease in special prepaid FDIC insurance assessments | 0 | 2,498 |
Increase in cash surrender value of life insurance contracts | -1,631 | -1,446 |
Excess tax benefits from exercise of stock options and warrants | -881 | -248 |
Net change in other assets, liabilities, and other operating activities | -3,466 | -3,186 |
Net cash provided by operating activities | 42,102 | 54,283 |
INVESTMENT ACTIVITIES | ' | ' |
Purchase of debt securities available for sale | -59,305 | -66,120 |
Proceeds from sale of debt securities available for sale | 173 | 0 |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 23,736 | 38,734 |
Purchase of debt securities held to maturity | 0 | -10,668 |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 2,226 | 3,505 |
Increase in loans | -305,015 | -386,247 |
Purchase of premises and equipment | -1,104 | -1,027 |
Purchase of bank-owned life insurance contracts | -15,000 | -10,000 |
Proceeds from sale of restricted equity securities | 320 | 203 |
Proceeds from sale of other real estate owned and repossessed assets | 5,526 | 5,258 |
Investment in tax credit partnerships | -1,531 | -7,907 |
Net cash used in investing activities | -349,974 | -434,269 |
FINANCING ACTIVITIES | ' | ' |
Net increase in noninterest-bearing deposits | 144,097 | 89,979 |
Net increase in interest-bearing deposits | 189,027 | 317,666 |
Net increase in federal funds purchased | 3,850 | 53,025 |
Proceeds from sale of common stock, net | 52,098 | 1,416 |
Proceeds from sale of preferred stock, net | 250 | ' |
Proceeds from exercise of stock options and warrants | 5,972 | 2,632 |
Excess tax benefits from exercise of stock options and warrants | 881 | 248 |
Dividends paid on common stock | -2,369 | -12 |
Dividends paid on preferred stock | -316 | -300 |
Net cash provided by financing activities | 393,490 | 464,654 |
Net increase in cash and cash equivalents | 85,618 | 84,668 |
Cash and cash equivalents at beginning of year | 258,415 | 180,745 |
Cash and cash equivalents at end of year | 344,033 | 265,413 |
Cash paid for: | ' | ' |
Interest | 8,981 | 9,936 |
Income taxes | 21,543 | 15,488 |
NONCASH TRANSACTIONS | ' | ' |
Conversion of mandatorily convertible subordinated debentures | 0 | 15,000 |
Transfers of loans from held for sale to held for investment | 0 | 690 |
Other real estate acquired in settlement of loans | 1,065 | 10,163 |
Internally financed sales of other real estate owned | 675 | 0 |
Dividends declared | $1,240 | $3,538 |
GENERAL
GENERAL | 9 Months Ended |
Sep. 30, 2014 | |
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/A for the year ended December 31, 2013. The Company’s wholly-owned subsidiary, ServisFirst Bank, is referred to herein as the “Bank.” | |
The Company announced on June 16, 2014 that it declared a three-for-one split of its common stock in the form of a stock dividend. On July 16, 2014, stockholders of record as of the close of business on July 9, 2014, would receive a distribution of two additional shares of ServisFirst common stock for each share they hold. Except where specifically indicated otherwise, all reported amounts in this Form 10-Q are adjusted to give effect to this stock split. | |
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, 2014 | |
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, 2014 | ||||||||||||||
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, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(In Thousands, Except Shares and Per Share Data) | ||||||||||||||
Earnings per common share | ||||||||||||||
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 | ||||||||||
Net income available to common stockholders | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,449 | ||||||
Basic earnings per common share | $ | 0.56 | $ | 0.51 | $ | 1.57 | $ | 1.45 | ||||||
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 | ||||||||||
Dilutive effects of assumed conversions and exercise of stock options and warrants | 1,191,251 | 908,526 | 1,059,032 | 1,313,520 | ||||||||||
Weighted average common and dilutive potential common shares outstanding | 25,952,883 | 21,965,733 | 24,598,250 | 21,619,554 | ||||||||||
Net income available to common stockholders | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,449 | ||||||
Effect of interest expense on convertible debt, net of tax and discretionary expenditures related to conversion | - | - | - | 115 | ||||||||||
Net income available to common stockholders, adjusted for effect of debt conversion | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,564 | ||||||
Diluted earnings per common share | $ | 0.54 | $ | 0.49 | $ | 1.51 | $ | 1.37 | ||||||
SECURITIES
SECURITIES | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
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, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Market | |||||||||||||||||
Cost | Gain | Loss | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 50,315 | $ | 586 | $ | -13 | $ | 50,888 | ||||||||||||
Mortgage-backed securities | 97,992 | 2,729 | -99 | 100,622 | ||||||||||||||||
State and municipal securities | 130,981 | 3,944 | -179 | 134,746 | ||||||||||||||||
Corporate debt | 15,800 | 247 | - | 16,047 | ||||||||||||||||
Total | 295,088 | 7,506 | -291 | 302,303 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 24,499 | 365 | -617 | 24,247 | ||||||||||||||||
State and municipal securities | 5,549 | 452 | - | 6,001 | ||||||||||||||||
Total | $ | 30,048 | $ | 817 | $ | -617 | $ | 30,248 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 31,641 | $ | 674 | $ | -41 | $ | 32,274 | ||||||||||||
Mortgage-backed securities | 85,764 | 2,574 | -98 | 88,240 | ||||||||||||||||
State and municipal securities | 127,083 | 3,430 | -682 | 129,831 | ||||||||||||||||
Corporate debt | 15,738 | 163 | -26 | 15,875 | ||||||||||||||||
Total | 260,226 | 6,841 | -847 | 266,220 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 26,730 | 266 | -1,422 | 25,574 | ||||||||||||||||
State and municipal securities | 5,544 | 197 | - | 5,741 | ||||||||||||||||
Total | $ | 32,274 | $ | 463 | $ | -1,422 | $ | 31,315 | ||||||||||||
The amortized cost and fair value of debt securities as of September 30, 2014 by contractual maturity are shown below. Actual maturities may differ from contractual maturities of mortgage-backed securities since the mortgages underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories along with the other categories of debt securities. | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Available-for-sale | Held-to-maturity | |||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||
Cost | Cost | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Less than one year | $ | 7,764 | $ | 7,870 | $ | - | $ | - | ||||||||||||
One year to five years | 120,879 | 123,673 | - | - | ||||||||||||||||
Five years to ten years | 67,922 | 69,572 | 297 | 322 | ||||||||||||||||
More than ten years | 531 | 566 | 5,252 | 5,679 | ||||||||||||||||
Mortgage-backed securities | 97,992 | 100,622 | 24,499 | 24,247 | ||||||||||||||||
$ | 295,088 | $ | 302,303 | $ | 30,048 | $ | 30,248 | |||||||||||||
The Company sold one available-for-sale municipal debt security for total proceeds of $173,000 at a gain of $3,000 in the third quarter of 2014. The Company sold two corporate debt securities for total proceeds of $4.1 million and a gain of $131,000 during the first nine months of 2013. | ||||||||||||||||||||
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, 2014 and December 31, 2013, 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, 2014, 51 of the Company’s 699 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, 2014. 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-14 | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | -13 | $ | 6,908 | $ | - | $ | - | $ | -13 | $ | 6,908 | ||||||||
Mortgage-backed securities | -68 | 18,447 | -648 | 18,019 | -716 | 36,466 | ||||||||||||||
State and municipal securities | -39 | 7,615 | -140 | 12,121 | -179 | 19,736 | ||||||||||||||
Corporate debt | - | - | - | - | - | - | ||||||||||||||
Total | $ | -120 | $ | 32,970 | $ | -788 | $ | 30,140 | $ | -908 | $ | 63,110 | ||||||||
31-Dec-13 | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | -41 | $ | 5,854 | $ | - | $ | - | $ | -41 | $ | 5,854 | ||||||||
Mortgage-backed securities | -852 | 21,365 | -668 | 6,691 | -1,520 | 28,056 | ||||||||||||||
State and municipal securities | -607 | 30,666 | -75 | 3,443 | -682 | 34,109 | ||||||||||||||
Corporate debt | -26 | 5,958 | - | - | -26 | 5,958 | ||||||||||||||
Total | $ | -1,526 | $ | 63,843 | $ | -743 | $ | 10,134 | $ | -2,269 | $ | 73,977 | ||||||||
LOANS
LOANS | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||
NOTE 5 – LOANS | |||||||||||||||||||||||
The following table details the Company’s loans at September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(Dollars In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,382,607 | $ | 1,278,649 | |||||||||||||||||||
Real estate - construction | 194,506 | 151,868 | |||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 773,432 | 710,372 | |||||||||||||||||||||
1-4 family mortgage | 314,778 | 278,621 | |||||||||||||||||||||
Other mortgage | 443,245 | 391,396 | |||||||||||||||||||||
Subtotal: Real estate - mortgage | 1,531,455 | 1,380,389 | |||||||||||||||||||||
Consumer | 51,204 | 47,962 | |||||||||||||||||||||
Total Loans | 3,159,772 | 2,858,868 | |||||||||||||||||||||
Less: Allowance for loan losses | -34,442 | -30,663 | |||||||||||||||||||||
Net Loans | $ | 3,125,330 | $ | 2,828,205 | |||||||||||||||||||
Commercial, financial and agricultural | 43.76 | % | 44.73 | % | |||||||||||||||||||
Real estate - construction | 6.15 | % | 5.31 | % | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 24.48 | % | 24.85 | % | |||||||||||||||||||
1-4 family mortgage | 9.96 | % | 9.74 | % | |||||||||||||||||||
Other mortgage | 14.03 | % | 13.69 | % | |||||||||||||||||||
Subtotal: Real estate - mortgage | 48.47 | % | 48.28 | % | |||||||||||||||||||
Consumer | 1.62 | % | 1.68 | % | |||||||||||||||||||
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 currently 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, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
September 30, 2014 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,353,330 | $ | 25,648 | $ | 3,629 | $ | - | $ | 1,382,607 | |||||||||||||
Real estate - construction | 181,357 | 5,333 | 7,816 | - | 194,506 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 764,902 | 6,898 | 1,632 | - | 773,432 | ||||||||||||||||||
1-4 family mortgage | 304,005 | 3,278 | 7,495 | - | 314,778 | ||||||||||||||||||
Other mortgage | 428,997 | 8,790 | 5,458 | - | 443,245 | ||||||||||||||||||
Total real estate mortgage | 1,497,904 | 18,966 | 14,585 | - | 1,531,455 | ||||||||||||||||||
Consumer | 50,485 | 46 | 673 | - | 51,204 | ||||||||||||||||||
Total | $ | 3,083,076 | $ | 49,993 | $ | 26,703 | $ | - | $ | 3,159,772 | |||||||||||||
Special | |||||||||||||||||||||||
December 31, 2013 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,238,109 | $ | 34,883 | $ | 5,657 | $ | - | $ | 1,278,649 | |||||||||||||
Real estate - construction | 139,239 | 3,392 | 9,237 | - | 151,868 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 696,687 | 11,545 | 2,140 | - | 710,372 | ||||||||||||||||||
1-4 family mortgage | 265,019 | 1,253 | 12,349 | - | 278,621 | ||||||||||||||||||
Other mortgage | 379,419 | 8,179 | 3,798 | - | 391,396 | ||||||||||||||||||
Total real estate mortgage | 1,341,125 | 20,977 | 18,287 | - | 1,380,389 | ||||||||||||||||||
Consumer | 47,243 | 3 | 716 | - | 47,962 | ||||||||||||||||||
Total | $ | 2,765,716 | $ | 59,255 | $ | 33,897 | $ | - | $ | 2,858,868 | |||||||||||||
Loans by performance status as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
September 30, 2014 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,381,648 | $ | 959 | $ | 1,382,607 | |||||||||||||||||
Real estate - construction | 187,539 | 6,967 | 194,506 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 772,339 | 1,093 | 773,432 | ||||||||||||||||||||
1-4 family mortgage | 308,681 | 6,097 | 314,778 | ||||||||||||||||||||
Other mortgage | 441,766 | 1,479 | 443,245 | ||||||||||||||||||||
Total real estate mortgage | 1,522,786 | 8,669 | 1,531,455 | ||||||||||||||||||||
Consumer | 50,531 | 673 | 51,204 | ||||||||||||||||||||
Total | $ | 3,142,504 | $ | 17,268 | $ | 3,159,772 | |||||||||||||||||
December 31, 2013 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,276,935 | $ | 1,714 | $ | 1,278,649 | |||||||||||||||||
Real estate - construction | 148,118 | 3,750 | 151,868 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 708,937 | 1,435 | 710,372 | ||||||||||||||||||||
1-4 family mortgage | 276,725 | 1,896 | 278,621 | ||||||||||||||||||||
Other mortgage | 391,153 | 243 | 391,396 | ||||||||||||||||||||
Total real estate mortgage | 1,376,815 | 3,574 | 1,380,389 | ||||||||||||||||||||
Consumer | 47,264 | 698 | 47,962 | ||||||||||||||||||||
Total | $ | 2,849,132 | $ | 9,736 | $ | 2,858,868 | |||||||||||||||||
Loans by past due status as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
September 30, 2014 | 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 and agricultural | $ | - | $ | 117 | $ | 242 | $ | 359 | $ | 717 | $ | 1,381,531 | $ | 1,382,607 | |||||||||
Real estate - construction | 181 | - | - | 181 | 6,967 | 187,358 | 194,506 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | 1,093 | 772,339 | 773,432 | ||||||||||||||||
1-4 family mortgage | 105 | 170 | 948 | 1,223 | 5,149 | 308,406 | 314,778 | ||||||||||||||||
Other mortgage | - | - | - | - | 1,479 | 441,766 | 443,245 | ||||||||||||||||
Total real estate - mortgage | 105 | 170 | 948 | 1,223 | 7,721 | 1,522,511 | 1,531,455 | ||||||||||||||||
Consumer | 7 | 61 | - | 68 | 673 | 50,463 | 51,204 | ||||||||||||||||
Total | $ | 293 | $ | 348 | $ | 1,190 | $ | 1,831 | $ | 16,078 | $ | 3,141,863 | $ | 3,159,772 | |||||||||
December 31, 2013 | 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 and agricultural | $ | 73 | $ | - | $ | - | $ | 73 | $ | 1,714 | $ | 1,276,862 | $ | 1,278,649 | |||||||||
Real estate - construction | - | - | - | - | 3,750 | 148,118 | 151,868 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | 1,435 | 708,937 | 710,372 | ||||||||||||||||
1-4 family mortgage | 177 | - | 19 | 196 | 1,877 | 276,548 | 278,621 | ||||||||||||||||
Other mortgage | - | - | - | - | 243 | 391,153 | 391,396 | ||||||||||||||||
Total real estate - mortgage | 177 | - | 19 | 196 | 3,555 | 1,376,638 | 1,380,389 | ||||||||||||||||
Consumer | 89 | 97 | 96 | 282 | 602 | 47,078 | 47,962 | ||||||||||||||||
Total | $ | 339 | $ | 97 | $ | 115 | $ | 551 | $ | 9,621 | $ | 2,848,696 | $ | 2,858,868 | |||||||||
The allowance for loan losses is maintained at a level which, in management’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The amount of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, economic conditions and other risks inherent in the portfolio. Allowances for impaired loans are generally determined based on collateral values or the present value of the estimated cash flows. The allowance is increased by a provision for loan losses, which is charged to expense, and reduced by charge-offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for losses on loans. Such agencies may require the Company to recognize adjustments to the allowance based on their judgments about information available to them at the time of their examination. | |||||||||||||||||||||||
The methodology utilized for the calculation of the allowance for loan losses is divided into four distinct categories. Those categories include allowances for non-impaired loans (ASC 450), impaired loans (ASC 310), external qualitative factors, and internal qualitative factors. A description of each category of the allowance for loan loss methodology is listed below. | |||||||||||||||||||||||
Non-Impaired Loans. Non-impaired loans are grouped into homogeneous loan pools by loan type and are the following: commercial and industrial, construction and development, commercial real estate, second lien home equity lines of credit, and all other loans. Each loan pool is stratified by internal risk rating and multiplied by a loss allocation percentage derived from the loan pool historical loss rate. The historical loss rate is based on an age weighted 5 year history of net charge-offs experienced by pool, with the most recent net charge-off experience given a greater weighting. This results in the expected loss rate per year, adjusted by a qualitative adjustment factor and a years-to-impairment factor, for each pool of loans to derive the total amount of allowance for non-impaired loans. | |||||||||||||||||||||||
Impaired Loans. Loans are considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due according to the original terms of the loan agreement. The collection of all amounts due according to contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, at the loan’s observable market price or the fair value of the underlying collateral. The fair value of collateral, reduced by costs to sell on a discounted basis, is used if a loan is collateral-dependent. Fair value estimates for specifically impaired collateral-dependent loans are derived from appraised values based on the current market value or “as is” value of the property, normally from recently received and reviewed appraisals. Appraisals are obtained from certified and licensed appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by our credit administration department, and values are adjusted downward to reflect anticipated disposition costs. Once this estimated net realizable value has been determined, the value used in the impairment assessment is updated for each impaired loan. As subsequent events dictate and estimated net realizable values decline, required reserves may be established or further adjustments recorded. | |||||||||||||||||||||||
External Qualitative Factors . The determination of the portion of the allowance for loan losses relating to external qualitative factors is based on consideration of the following factors: gross domestic product growth rate, changes in prime rate, delinquency trends, peer delinquency trends, year over year loan growth and state unemployment rate trends. Data for the three most recent periods is utilized in the calculation for each external qualitative component. The factors have a consistent weighted methodology to calculate the amount of allowance due to external qualitative factors. | |||||||||||||||||||||||
Internal Qualitative Factors . The determination of the portion of the allowance for loan losses relating to internal qualitative factors is based on the consideration of criteria which includes the following: number of extensions and deferrals, single pay and interest only loans, current financial information, credit concentrations and risk grade accuracy. A self-assessment for each of the criteria is made with a consistent weighted methodology used to calculate the amount of allowance required for internal qualitative factors. | |||||||||||||||||||||||
In the third quarter of 2014, the allowance for loan loss calculation was updated to incorporate a greater emphasis placed on external and internal qualitative factors compared to historical calculations. This was determined based on an analysis of loan growth, loss rates relative to peer institutions and overall interest rate risk. This adjustment increased the allowance for loan losses associated with external and internal qualitative factors by $2.1 million at September 30, 2014 compared to June 30, 2014. | |||||||||||||||||||||||
The following table presents an analysis of the allowance for loan losses by portfolio segment as of September 30, 2014 and December 31, 2013. 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 - | |||||||||||||||||||||
agricultural | construction | mortgage | Consumer | Total | |||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2014 | $ | 13,637 | $ | 6,734 | $ | 11,523 | $ | 1,090 | $ | 32,984 | |||||||||||||
Charge-offs | -531 | -610 | -149 | -131 | -1,421 | ||||||||||||||||||
Recoveries | - | 97 | 14 | 20 | 131 | ||||||||||||||||||
Provision | 1,364 | 461 | 905 | 18 | 2,748 | ||||||||||||||||||
Balance at September 30, 2014 | $ | 14,470 | $ | 6,682 | $ | 12,293 | $ | 997 | $ | 34,442 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2013 | $ | 13,794 | $ | 5,788 | $ | 8,856 | $ | 319 | $ | 28,757 | |||||||||||||
Charge-offs | -849 | -394 | -1,746 | -42 | -3,031 | ||||||||||||||||||
Recoveries | 13 | 124 | 24 | 6 | 167 | ||||||||||||||||||
Provision | 910 | 309 | 1,248 | 567 | 3,034 | ||||||||||||||||||
Balance at September 30, 2013 | $ | 13,868 | $ | 5,827 | $ | 8,382 | $ | 850 | $ | 28,927 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 13,576 | $ | 6,078 | $ | 10,065 | $ | 944 | $ | 30,663 | |||||||||||||
Charge-offs | -1,895 | -958 | -1,043 | -207 | -4,103 | ||||||||||||||||||
Recoveries | 46 | 285 | 28 | 23 | 382 | ||||||||||||||||||
Provision | 2,743 | 1,277 | 3,243 | 237 | 7,500 | ||||||||||||||||||
Balance at September 30, 2014 | $ | 14,470 | $ | 6,682 | $ | 12,293 | $ | 997 | $ | 34,442 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 11,061 | $ | 6,907 | $ | 7,964 | $ | 326 | $ | 26,258 | |||||||||||||
Charge-offs | -1,838 | -4,271 | -2,016 | -172 | -8,297 | ||||||||||||||||||
Recoveries | 50 | 226 | 28 | 10 | 314 | ||||||||||||||||||
Provision | 4,595 | 2,965 | 2,406 | 686 | 10,652 | ||||||||||||||||||
Balance at September 30, 2013 | $ | 13,868 | $ | 5,827 | $ | 8,382 | $ | 850 | $ | 28,927 | |||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | 1,229 | 1,764 | 2,660 | 673 | 6,326 | ||||||||||||||||||
Collectively Evaluated for Impairment | 13,241 | 4,918 | 9,633 | 324 | 28,116 | ||||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,382,607 | $ | 194,506 | $ | 1,531,455 | $ | 51,204 | $ | 3,159,772 | |||||||||||||
Individually Evaluated for Impairment | 3,629 | 7,816 | 14,585 | 673 | 26,703 | ||||||||||||||||||
Collectively Evaluated for Impairment | 1,378,978 | 186,690 | 1,516,870 | 50,531 | 3,133,069 | ||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | 1,992 | 1,597 | 1,982 | 699 | 6,270 | ||||||||||||||||||
Collectively Evaluated for Impairment | 11,584 | 4,481 | 8,083 | 245 | 24,393 | ||||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,278,649 | $ | 151,868 | $ | 1,380,389 | $ | 47,962 | $ | 2,858,868 | |||||||||||||
Individually Evaluated for Impairment | 3,827 | 9,238 | 18,202 | 699 | 31,966 | ||||||||||||||||||
Collectively Evaluated for Impairment | 1,274,822 | 142,630 | 1,362,187 | 47,263 | 2,826,902 | ||||||||||||||||||
The following table presents details of the Company’s impaired loans as of September 30, 2014 and December 31, 2013, 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, 2014 | 2014 | 2014 | |||||||||||||||||||||
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 agricultural | $ | 1,700 | $ | 1,700 | $ | - | $ | 1,796 | $ | 26 | $ | 1,927 | $ | 83 | |||||||||
Real estate - construction | 2,054 | 2,054 | - | 2,016 | 11 | 1,910 | 34 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 216 | 216 | - | 219 | 2 | 229 | 7 | ||||||||||||||||
1-4 family mortgage | 1,199 | 1,199 | - | 1,199 | 15 | 1,199 | 45 | ||||||||||||||||
Other mortgage | 2,823 | 2,823 | - | 2,823 | 34 | 2,827 | 118 | ||||||||||||||||
Total real estate - mortgage | 4,238 | 4,238 | - | 4,241 | 51 | 4,255 | 170 | ||||||||||||||||
Consumer | - | - | - | - | - | - | - | ||||||||||||||||
Total with no allowance recorded | 7,992 | 7,992 | - | 8,053 | 88 | 8,092 | 287 | ||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 1,929 | 1,929 | 1,229 | 1,933 | 16 | 1,967 | 70 | ||||||||||||||||
Real estate - construction | 5,762 | 6,643 | 1,764 | 6,130 | - | 6,089 | 20 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,416 | 1,416 | 287 | 1,440 | 9 | 1,475 | 29 | ||||||||||||||||
1-4 family mortgage | 6,296 | 6,296 | 1,591 | 6,354 | 29 | 7,222 | 132 | ||||||||||||||||
Other mortgage | 2,635 | 2,635 | 782 | 2,548 | 20 | 2,813 | 64 | ||||||||||||||||
Total real estate - mortgage | 10,347 | 10,347 | 2,660 | 10,342 | 58 | 11,510 | 225 | ||||||||||||||||
Consumer | 673 | 673 | 673 | 677 | 1 | 684 | - | ||||||||||||||||
Total with allowance recorded | 18,711 | 19,592 | 6,326 | 19,082 | 75 | 20,250 | 315 | ||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,629 | 3,629 | 1,229 | 3,729 | 42 | 3,894 | 153 | ||||||||||||||||
Real estate - construction | 7,816 | 8,697 | 1,764 | 8,146 | 11 | 7,999 | 54 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,632 | 1,632 | 287 | 1,659 | 11 | 1,704 | 36 | ||||||||||||||||
1-4 family mortgage | 7,495 | 7,495 | 1,591 | 7,553 | 44 | 8,421 | 177 | ||||||||||||||||
Other mortgage | 5,458 | 5,458 | 782 | 5,371 | 54 | 5,640 | 182 | ||||||||||||||||
Total real estate - mortgage | 14,585 | 14,585 | 2,660 | 14,583 | 109 | 15,765 | 395 | ||||||||||||||||
Consumer | 673 | 673 | 673 | 677 | 1 | 684 | - | ||||||||||||||||
Total impaired loans | $ | 26,703 | $ | 27,584 | $ | 6,326 | $ | 27,135 | $ | 163 | $ | 28,342 | $ | 602 | |||||||||
31-Dec-13 | |||||||||||||||||||||||
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 | $ | 1,210 | $ | 1,210 | $ | - | $ | 1,196 | $ | 63 | |||||||||||||
Real estate - construction | 1,967 | 2,405 | - | 1,363 | 32 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 577 | 577 | - | 603 | 32 | ||||||||||||||||||
1-4 family mortgage | 1,198 | 1,198 | - | 1,200 | 55 | ||||||||||||||||||
Other mortgage | 2,311 | 2,311 | - | 1,901 | 123 | ||||||||||||||||||
Total real estate - mortgage | 4,086 | 4,086 | - | 3,704 | 210 | ||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||
Total with no allowance recorded | 7,263 | 7,701 | - | 6,263 | 305 | ||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 2,618 | 2,958 | 1,992 | 2,844 | 98 | ||||||||||||||||||
Real estate - construction | 7,270 | 7,750 | 1,597 | 6,564 | 200 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,509 | 1,509 | 620 | 1,573 | 38 | ||||||||||||||||||
1-4 family mortgage | 11,120 | 11,120 | 1,210 | 10,743 | 342 | ||||||||||||||||||
Other mortgage | 1,487 | 1,586 | 152 | 1,873 | 96 | ||||||||||||||||||
Total real estate - mortgage | 14,116 | 14,215 | 1,982 | 14,189 | 476 | ||||||||||||||||||
Consumer | 699 | 699 | 699 | 790 | 28 | ||||||||||||||||||
Total with allowance recorded | 24,703 | 25,622 | 6,270 | 24,387 | 802 | ||||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,828 | 4,168 | 1,992 | 4,040 | 161 | ||||||||||||||||||
Real estate - construction | 9,237 | 10,155 | 1,597 | 7,927 | 232 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 2,086 | 2,086 | 620 | 2,176 | 70 | ||||||||||||||||||
1-4 family mortgage | 12,318 | 12,318 | 1,210 | 11,943 | 397 | ||||||||||||||||||
Other mortgage | 3,798 | 3,897 | 152 | 3,774 | 219 | ||||||||||||||||||
Total real estate - mortgage | 18,202 | 18,301 | 1,982 | 17,893 | 686 | ||||||||||||||||||
Consumer | 699 | 699 | 699 | 790 | 28 | ||||||||||||||||||
Total impaired loans | $ | 31,966 | $ | 33,323 | $ | 6,270 | $ | 30,650 | $ | 1,107 | |||||||||||||
Troubled Debt Restructurings (“TDR”) at September 30, 2014, December 31, 2013 and September 30, 2013 totaled $7.9 million, $ 14.2 million and $8.4 million, respectively. At September 30, 2014, the Company had a related allowance for loan losses of $1.9 million allocated to these TDRs, compared to $2.4 million at December 31, 2013 and $0.8 million at September 30, 2013. The Company’s TDRs for the three and nine months ended September 30, 2014 and 2013 have all resulted from term extensions rather than from interest rate reductions or debt forgiveness. The following tables present loans modified in a TDR during the periods presented by portfolio segment and the financial impact of those modifications. The tables include modifications made to new TDRs, as well as renewals of existing TDRs. | |||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||
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 | 1 | $ | 390 | $ | 390 | 2 | $ | 889 | $ | 889 | |||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | - | - | |||||||||||||||||
1-4 family mortgage | 1 | 4,449 | 4,449 | 1 | 4,449 | 4,449 | |||||||||||||||||
Other mortgage | 1 | 275 | 275 | 2 | 1,684 | 1,684 | |||||||||||||||||
Total real estate mortgage | 2 | 4,724 | 4,724 | 3 | 6,133 | 6,133 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
3 | $ | 5,114 | $ | 5,114 | 5 | $ | 7,022 | $ | 7,022 | ||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||
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 | 1 | $ | 412 | $ | 412 | 2 | $ | 911 | $ | 911 | |||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | - | - | |||||||||||||||||
1-4 family mortgage | - | - | - | 1 | 4,925 | 4,925 | |||||||||||||||||
Other mortgage | 1 | 294 | 294 | 1 | 294 | 294 | |||||||||||||||||
Total real estate mortgage | 1 | 294 | 294 | 2 | 5,219 | 5,219 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
2 | $ | 706 | $ | 706 | 4 | $ | 6,130 | $ | 6,130 | ||||||||||||||
The following table presents TDRs by portfolio segment which defaulted during the three and nine months ended September 30, 2014 and 2013, and which were modified in the previous twelve months (i.e., the twelve months prior to default). For purposes of this disclosure default is defined as 90 days past due and still accruing or placement on nonaccrual status. | |||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Defaulted during the period, where modified in a TDR twelve months prior to default | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | - | $ | - | $ | - | $ | - | |||||||||||||||
Real estate - construction | - | - | - | - | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | 3,121 | - | 3,121 | |||||||||||||||||||
1-4 family mortgage | 4,313 | - | 4,313 | - | |||||||||||||||||||
Other mortgage | - | - | - | - | |||||||||||||||||||
Total real estate mortgage | 4,313 | 3,121 | 4,313 | 3,121 | |||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||
$ | 4,313 | $ | 3,121 | $ | 4,313 | $ | 3,121 | ||||||||||||||||
EMPLOYEE_AND_DIRECTOR_BENEFITS
EMPLOYEE AND DIRECTOR BENEFITS | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||||
EMPLOYEE AND DIRECTOR BENEFITS | ' | |||||||||||||
NOTE 6 - EMPLOYEE AND DIRECTOR BENEFITS | ||||||||||||||
Stock Options | ||||||||||||||
At September 30, 2014, the Company had stock-based compensation plans, as described below. The compensation cost that has been charged to earnings for the plans was approximately $302,000 and $3.4 million for the three and nine months ended September 30, 2014 and $308,000 and $889,000 for the three and nine months ended September 30, 2013. The Company recorded a non-routine expense of $703,000 for the first quarter of 2014 resulting from the correction of its accounting for vested stock options previously granted to members of its advisory boards, and recorded a non-routine expense of $1.8 million for the second quarter of 2014 resulting from an acceleration of vesting of all stock options granted to members of its advisory boards. Such stock options were historically accounted for under the provisions of Accounting Standards Codification (“ASC”) 718-10, Compensation – Stock Compensation, and now have been determined to be recorded as an expense at the fair value of such options in accordance with the provisions of ASC 505-50, Equity-based Payments to Non-employees. | ||||||||||||||
The Company’s 2005 Amended and Restated Stock Option Plan allows for the grant of stock options to purchase up to 3,075,000 shares of the Company’s common stock. The Company’s 2009 Amended and Restated Stock Incentive Plan authorizes the grant of up to 2,775,000 shares and allows for the issuance of Stock Appreciation Rights, Restricted Stock, Stock Options, Non-stock Share Equivalents, Performance Shares or Performance Units. In June 2014, the Company amended the 2009 Plan to allow for an additional 1,500,000 shares. 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 165,000 shares of the Company’s common stock at prices between $5.00 and $6.67 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. | ||||||||||||||
2014 | 2013 | |||||||||||||
Expected volatility | 19.25 | % | 18.5 | % | ||||||||||
Expected dividends | 1.45 | % | - | % | ||||||||||
Expected term (in years) | 7.75 | 7.5 | ||||||||||||
Risk-free rate | 2.33 | % | 1.39 | % | ||||||||||
The weighted average grant-date fair value of options granted during the nine months ended September 30, 2014 and September 30, 2013 was $2.95 and $2.68, respectively. | ||||||||||||||
The following table summarizes stock option activity during the nine months ended September 30, 2014 and September 30, 2013: | ||||||||||||||
Weighted | ||||||||||||||
Weighted | Average | |||||||||||||
Average | Remaining | Aggregate | ||||||||||||
Exercise | Contractual | Intrinsic | ||||||||||||
Shares | Price | Term (years) | Value | |||||||||||
(In Thousands) | ||||||||||||||
Nine Months Ended September 30, 2014: | ||||||||||||||
Outstanding at January 1, 2014 | 2,328,900 | $ | 7.69 | 5.5 | $ | 14,300 | ||||||||
Granted | 114,000 | 13.83 | 9.4 | 1,707 | ||||||||||
Exercised | -821,400 | 5.77 | 2.6 | 18,920 | ||||||||||
Forfeited | - | - | - | - | ||||||||||
Outstanding at September 30, 2014 | 1,621,500 | 9.1 | 6.1 | $ | 31,942 | |||||||||
Exercisable at September 30, 2014 | 609,000 | $ | 7.17 | 4.7 | $ | 13,174 | ||||||||
Nine Months Ended September 30, 2013: | ||||||||||||||
Outstanding at January 1, 2013 | 2,449,500 | $ | 6.96 | 5.8 | $ | 9,905 | ||||||||
Granted | 75,000 | 11 | 9.5 | - | ||||||||||
Exercised | -129,000 | 4.81 | 2.8 | 1,054 | ||||||||||
Forfeited | -9,000 | 6.67 | 4.2 | 65 | ||||||||||
Outstanding at September 30, 2013 | 2,386,500 | 7.2 | 5.3 | $ | 15,828 | |||||||||
Exercisable at September 30, 2013 | 1,553,232 | $ | 5.1 | 3.1 | $ | 13,563 | ||||||||
As of September 30, 2014, there was approximately $1.5 million 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 1.6 years. | ||||||||||||||
Restricted Stock | ||||||||||||||
The Company has issued 235,500 shares of restricted stock to certain employees. The value of restricted stock awards is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of September 30, 2014, there was $990,000 of total unrecognized compensation cost related to non-vested restricted stock. The cost is expected to be recognized evenly over the remaining 1.3 years of the restricted stock’s vesting period. | ||||||||||||||
Stock Warrants | ||||||||||||||
The Company granted warrants for 45,000 shares of common stock of the Company with an exercise price of $8.33 per share in the second quarter of 2009. These warrants were granted in connection with the issuance of the Company’s 8.25% Subordinated Note due June 1, 2016. All of these warrants were exercised during the second quarter of 2014. | ||||||||||||||
DERIVATIVES
DERIVATIVES | 9 Months Ended |
Sep. 30, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
DERIVATIVES | ' |
NOTE 7 - DERIVATIVES | |
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, 2014 and December 31, 2013 were not material. | |
RECENTLY_ADOPTED_ACCOUNTING_PR
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS | ' |
NOTE 8 – RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS | |
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. This amendment applies 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. | |
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. These 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 has adopted this update, but such adoption had no impact on its financial position or results of operations. | |
In January 2014, the FASB issued ASU No. 2014-1, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects, which provides guidance on accounting for investments by a reporting entity in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. It permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial investment in proportion to the tax credits and other tax benefits received, and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments are effective for public entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014, and are effective for all entities other than public entities for annual periods beginning after December 15, 2014, and interim reporting periods within annual periods beginning after December 15, 2015. Early adoption is permitted and retrospective application is required for all periods presented. The Company made an investment in a limited partnership during the first quarter of 2014 which has invested in a qualified affordable housing project. The Company has made an election to account for this investment as provided for in this update, and will recognize the net investment performance of its share of the partnership as tax credits become available. | |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Changes and Error Corrections [Abstract] | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
NOTE 9 - RECENT ACCOUNTING PRONOUNCEMENTS | |
In January 2014, the FASB issued ASU No. 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments are intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. The amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of residential foreclosure, or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures about such activities are required by these amendments. The amendments in this ASU become effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014, and early adoption is permitted. The Company is assessing the impact that these amendments will have on its financial position and results of operations, but does not currently anticipate that it will have a material impact. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). These amendments affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g. insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance, and creates a Topic 606, Revenue from Contracts with Customers. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This ASU will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The ASU allows for either full retrospective or modified retrospective adoption. The Company is assessing the effects of this ASU, which exclude financial instruments from its scope, but does not anticipate that it will have a material impact on its financial position or results of operations. | |
In June 2014, the FASB issued ASU No. 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period. The amendments clarify the proper method of accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. This ASU requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. None of the Company’s share-based payment awards have service components, so the Company does not believe this ASU will have an impact on its financial position or results of operations. | |
In August 2014, the FASB issued ASU No. 2014-14 – Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. These amendments address the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program (e.g. HUD, FHA, VA). The ASU outlines certain criteria that, if met, the loan (residential or commercial) should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This ASU will be effective for annual reporting periods beginning after December 15, 2014, including interim periods within that reporting period. Early adoption is permitted, provided the entity has adopted ASU 2014-04. The ASU should be adopted either prospectively or on a modified retrospective basis. The Company is assessing the impact that these amendments will have on its financial position and results of operations, but does not currently anticipate that it will have a material impact. | |
In August 2014, the FASB issued ASU No. 2014-15 Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. These amendments are intended to reduce diversity in the timing and content of going concern disclosures. This ASU clarifies management’s responsibility to evaluate and provide related disclosures if there are any conditions or events, as a whole, that raise substantial doubt about the entity’s ability to continue as a going concern for one year after the date the financial statements are issued (or, if applicable, available to be issued). The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early application is permitted. The Company does not believe this ASU will have an impact on its financial position or results of operations. | |
FAIR_VALUE_MEASUREMENT
FAIR VALUE MEASUREMENT | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
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. | ||||||||||||||
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 pricing services provided by 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 source 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 hierarchy. | ||||||||||||||
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 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 $724,000 and $4.3 million during the three and nine months ended September 30, 2014, respectively, and $2.3 million and $8.0 million during the three and nine months ended September 30, 2013, respectively. | ||||||||||||||
Other Real Estate Owned. Other real estate assets (“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. Appraisals are performed by certified and licensed appraisers. Subsequent to foreclosure, valuations are updated periodically and assets are marked to current fair value, not to exceed the new cost basis. In the determination of fair value subsequent to foreclosure, management also considers other factors or recent developments, such as changes in absorption rates and market conditions from the time of valuation, and anticipated sales values considering management’s plans for disposition, which could result in adjustment to lower the property value estimates indicated in the appraisals. These measurements are classified as Level 3 within the valuation hierarchy. A loss on the sale and write-downs of OREO of $225,000 and $757,000 was recognized for the three and nine months ended September 30, 2014, respectively, and $302,000 and $813,000 for the three and nine months ended September 30, 2013, 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, 2014 and December 31, 2013: | ||||||||||||||
Fair Value Measurements at September 30, 2014 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 | $ | - | $ | 50,888 | $ | - | $ | 50,888 | ||||||
Mortgage-backed securities | - | 100,622 | - | 100,622 | ||||||||||
State and municipal securities | - | 134,746 | - | 134,746 | ||||||||||
Corporate debt | - | 16,047 | - | 16,047 | ||||||||||
Total assets at fair value | $ | - | $ | 302,303 | $ | - | $ | 302,303 | ||||||
Fair Value Measurements at December 31, 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 | $ | - | $ | 32,274 | $ | - | $ | 32,274 | ||||||
Mortgage-backed securities | - | 88,240 | - | 88,240 | ||||||||||
State and municipal securities | - | 129,831 | - | 129,831 | ||||||||||
Corporate debt | - | 15,875 | - | 15,875 | ||||||||||
Total assets at fair value | $ | - | $ | 266,220 | $ | - | $ | 266,220 | ||||||
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of September 30, 2014 and December 31, 2013: | ||||||||||||||
Fair Value Measurements at September 30, 2014 Using | ||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | |||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 20,377 | $ | 20,377 | ||||||
Other real estate owned and repossessed assets | - | - | 6,940 | 6,940 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 27,317 | $ | 27,317 | ||||||
Fair Value Measurements at December 31, 2013 Using | ||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | |||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 25,696 | $ | 25,696 | ||||||
Other real estate owned and repossessed assets | - | - | 12,861 | 12,861 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 38,557 | $ | 38,557 | ||||||
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. | ||||||||||||||
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 other borrowings 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, 2014 and December 31, 2013 are presented in the following table. This table includes those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. | ||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||
Carrying | Carrying | |||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||
(In Thousands) | ||||||||||||||
Financial Assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Available for sale debt securities | $ | 302,303 | $ | 302,303 | $ | 266,220 | $ | 266,220 | ||||||
Held to maturity debt securities | 30,048 | 30,248 | 32,274 | 31,315 | ||||||||||
Restricted equity securities | 3,418 | 3,418 | 3,738 | 3,738 | ||||||||||
Federal funds sold | 6,566 | 6,566 | 8,634 | 8,634 | ||||||||||
Mortgage loans held for sale | 9,037 | 9,037 | 8,134 | 8,134 | ||||||||||
Bank owned life insurance contracts | 85,639 | 85,639 | 69,008 | 69,008 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 3,125,330 | 3,133,676 | 2,828,205 | 2,825,924 | ||||||||||
Financial Liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | $ | 3,352,766 | $ | 3,352,767 | $ | 3,019,642 | $ | 3,021,847 | ||||||
Federal funds purchased | 178,230 | 178,230 | 174,380 | 174,380 | ||||||||||
Other borrowings | 19,965 | 19,965 | 19,940 | 19,940 | ||||||||||
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2014 | |
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, 2014, and events which occurred subsequent to September 30, 2014 but were not recognized in the financial statements. | |
On October 20, 2014, the Company executed a definitive agreement and plan of merger (“Agreement’) with Metro Bancshares, Inc., a Georgia corporation (“Metro”), pursuant to which Metro will merge with and into the Company, with the Company as the surviving corporation (the “Merger”). | |
Under the terms of the Agreement, the Company will issue 636,720 shares of its common stock and pay approximately $22.8 million in cash for all outstanding shares of Metro common stock, subject to certain conditions and potential adjustments. The Agreement has been unanimously approved by the board of directors of each the Company and Metro. Subject to the approval of the Merger by Metro’s common stockholders, regulatory approvals and the satisfaction of customary closing conditions, the parties anticipate completing the Merger in the first quarter of 2015. | |
More information about this transaction is available in the Company’s press release dated October 20, 2014 and in its Form 8-K filed with the SEC on October 20, 2014. | |
EARNINGS_PER_COMMON_SHARE_Tabl
EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [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, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
(In Thousands, Except Shares and Per Share Data) | ||||||||||||||
Earnings per common share | ||||||||||||||
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 | ||||||||||
Net income available to common stockholders | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,449 | ||||||
Basic earnings per common share | $ | 0.56 | $ | 0.51 | $ | 1.57 | $ | 1.45 | ||||||
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 | ||||||||||
Dilutive effects of assumed conversions and exercise of stock options and warrants | 1,191,251 | 908,526 | 1,059,032 | 1,313,520 | ||||||||||
Weighted average common and dilutive potential common shares outstanding | 25,952,883 | 21,965,733 | 24,598,250 | 21,619,554 | ||||||||||
Net income available to common stockholders | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,449 | ||||||
Effect of interest expense on convertible debt, net of tax and discretionary expenditures related to conversion | - | - | - | 115 | ||||||||||
Net income available to common stockholders, adjusted for effect of debt conversion | $ | 13,902 | $ | 10,712 | $ | 37,029 | $ | 29,564 | ||||||
Diluted earnings per common share | $ | 0.54 | $ | 0.49 | $ | 1.51 | $ | 1.37 | ||||||
SECURITIES_Tables
SECURITIES (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [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, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Market | |||||||||||||||||
Cost | Gain | Loss | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 50,315 | $ | 586 | $ | -13 | $ | 50,888 | ||||||||||||
Mortgage-backed securities | 97,992 | 2,729 | -99 | 100,622 | ||||||||||||||||
State and municipal securities | 130,981 | 3,944 | -179 | 134,746 | ||||||||||||||||
Corporate debt | 15,800 | 247 | - | 16,047 | ||||||||||||||||
Total | 295,088 | 7,506 | -291 | 302,303 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 24,499 | 365 | -617 | 24,247 | ||||||||||||||||
State and municipal securities | 5,549 | 452 | - | 6,001 | ||||||||||||||||
Total | $ | 30,048 | $ | 817 | $ | -617 | $ | 30,248 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | 31,641 | $ | 674 | $ | -41 | $ | 32,274 | ||||||||||||
Mortgage-backed securities | 85,764 | 2,574 | -98 | 88,240 | ||||||||||||||||
State and municipal securities | 127,083 | 3,430 | -682 | 129,831 | ||||||||||||||||
Corporate debt | 15,738 | 163 | -26 | 15,875 | ||||||||||||||||
Total | 260,226 | 6,841 | -847 | 266,220 | ||||||||||||||||
Securities Held to Maturity | ||||||||||||||||||||
Mortgage-backed securities | 26,730 | 266 | -1,422 | 25,574 | ||||||||||||||||
State and municipal securities | 5,544 | 197 | - | 5,741 | ||||||||||||||||
Total | $ | 32,274 | $ | 463 | $ | -1,422 | $ | 31,315 | ||||||||||||
Amortized Cost and Fair Value of Securities | ' | |||||||||||||||||||
The amortized cost and fair value of debt securities as of September 30, 2014 by contractual maturity are shown below. Actual maturities may differ from contractual maturities of mortgage-backed securities since the mortgages underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories along with the other categories of debt securities. | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Available-for-sale | Held-to-maturity | |||||||||||||||||||
Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||
Cost | Cost | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Less than one year | $ | 7,764 | $ | 7,870 | $ | - | $ | - | ||||||||||||
One year to five years | 120,879 | 123,673 | - | - | ||||||||||||||||
Five years to ten years | 67,922 | 69,572 | 297 | 322 | ||||||||||||||||
More than ten years | 531 | 566 | 5,252 | 5,679 | ||||||||||||||||
Mortgage-backed securities | 97,992 | 100,622 | 24,499 | 24,247 | ||||||||||||||||
$ | 295,088 | $ | 302,303 | $ | 30,048 | $ | 30,248 | |||||||||||||
Investment Securities Continuous Unrealized Loss Position | ' | |||||||||||||||||||
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, 2014. 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-14 | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | -13 | $ | 6,908 | $ | - | $ | - | $ | -13 | $ | 6,908 | ||||||||
Mortgage-backed securities | -68 | 18,447 | -648 | 18,019 | -716 | 36,466 | ||||||||||||||
State and municipal securities | -39 | 7,615 | -140 | 12,121 | -179 | 19,736 | ||||||||||||||
Corporate debt | - | - | - | - | - | - | ||||||||||||||
Total | $ | -120 | $ | 32,970 | $ | -788 | $ | 30,140 | $ | -908 | $ | 63,110 | ||||||||
31-Dec-13 | ||||||||||||||||||||
U.S. Treasury and government sponsored agencies | $ | -41 | $ | 5,854 | $ | - | $ | - | $ | -41 | $ | 5,854 | ||||||||
Mortgage-backed securities | -852 | 21,365 | -668 | 6,691 | -1,520 | 28,056 | ||||||||||||||
State and municipal securities | -607 | 30,666 | -75 | 3,443 | -682 | 34,109 | ||||||||||||||
Corporate debt | -26 | 5,958 | - | - | -26 | 5,958 | ||||||||||||||
Total | $ | -1,526 | $ | 63,843 | $ | -743 | $ | 10,134 | $ | -2,269 | $ | 73,977 | ||||||||
LOANS_Tables
LOANS (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
Details Of Loans | ' | ||||||||||||||||||||||
The following table details the Company’s loans at September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(Dollars In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,382,607 | $ | 1,278,649 | |||||||||||||||||||
Real estate - construction | 194,506 | 151,868 | |||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 773,432 | 710,372 | |||||||||||||||||||||
1-4 family mortgage | 314,778 | 278,621 | |||||||||||||||||||||
Other mortgage | 443,245 | 391,396 | |||||||||||||||||||||
Subtotal: Real estate - mortgage | 1,531,455 | 1,380,389 | |||||||||||||||||||||
Consumer | 51,204 | 47,962 | |||||||||||||||||||||
Total Loans | 3,159,772 | 2,858,868 | |||||||||||||||||||||
Less: Allowance for loan losses | -34,442 | -30,663 | |||||||||||||||||||||
Net Loans | $ | 3,125,330 | $ | 2,828,205 | |||||||||||||||||||
Commercial, financial and agricultural | 43.76 | % | 44.73 | % | |||||||||||||||||||
Real estate - construction | 6.15 | % | 5.31 | % | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 24.48 | % | 24.85 | % | |||||||||||||||||||
1-4 family mortgage | 9.96 | % | 9.74 | % | |||||||||||||||||||
Other mortgage | 14.03 | % | 13.69 | % | |||||||||||||||||||
Subtotal: Real estate - mortgage | 48.47 | % | 48.28 | % | |||||||||||||||||||
Consumer | 1.62 | % | 1.68 | % | |||||||||||||||||||
Total Loans | 100 | % | 100 | % | |||||||||||||||||||
Loans By Credit Quality Indicator | ' | ||||||||||||||||||||||
Loans by credit quality indicator as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
September 30, 2014 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,353,330 | $ | 25,648 | $ | 3,629 | $ | - | $ | 1,382,607 | |||||||||||||
Real estate - construction | 181,357 | 5,333 | 7,816 | - | 194,506 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 764,902 | 6,898 | 1,632 | - | 773,432 | ||||||||||||||||||
1-4 family mortgage | 304,005 | 3,278 | 7,495 | - | 314,778 | ||||||||||||||||||
Other mortgage | 428,997 | 8,790 | 5,458 | - | 443,245 | ||||||||||||||||||
Total real estate mortgage | 1,497,904 | 18,966 | 14,585 | - | 1,531,455 | ||||||||||||||||||
Consumer | 50,485 | 46 | 673 | - | 51,204 | ||||||||||||||||||
Total | $ | 3,083,076 | $ | 49,993 | $ | 26,703 | $ | - | $ | 3,159,772 | |||||||||||||
Special | |||||||||||||||||||||||
December 31, 2013 | Pass | Mention | Substandard | Doubtful | Total | ||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,238,109 | $ | 34,883 | $ | 5,657 | $ | - | $ | 1,278,649 | |||||||||||||
Real estate - construction | 139,239 | 3,392 | 9,237 | - | 151,868 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 696,687 | 11,545 | 2,140 | - | 710,372 | ||||||||||||||||||
1-4 family mortgage | 265,019 | 1,253 | 12,349 | - | 278,621 | ||||||||||||||||||
Other mortgage | 379,419 | 8,179 | 3,798 | - | 391,396 | ||||||||||||||||||
Total real estate mortgage | 1,341,125 | 20,977 | 18,287 | - | 1,380,389 | ||||||||||||||||||
Consumer | 47,243 | 3 | 716 | - | 47,962 | ||||||||||||||||||
Total | $ | 2,765,716 | $ | 59,255 | $ | 33,897 | $ | - | $ | 2,858,868 | |||||||||||||
Loans By Performance Status | ' | ||||||||||||||||||||||
Loans by performance status as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
September 30, 2014 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,381,648 | $ | 959 | $ | 1,382,607 | |||||||||||||||||
Real estate - construction | 187,539 | 6,967 | 194,506 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 772,339 | 1,093 | 773,432 | ||||||||||||||||||||
1-4 family mortgage | 308,681 | 6,097 | 314,778 | ||||||||||||||||||||
Other mortgage | 441,766 | 1,479 | 443,245 | ||||||||||||||||||||
Total real estate mortgage | 1,522,786 | 8,669 | 1,531,455 | ||||||||||||||||||||
Consumer | 50,531 | 673 | 51,204 | ||||||||||||||||||||
Total | $ | 3,142,504 | $ | 17,268 | $ | 3,159,772 | |||||||||||||||||
December 31, 2013 | Performing | Nonperforming | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,276,935 | $ | 1,714 | $ | 1,278,649 | |||||||||||||||||
Real estate - construction | 148,118 | 3,750 | 151,868 | ||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 708,937 | 1,435 | 710,372 | ||||||||||||||||||||
1-4 family mortgage | 276,725 | 1,896 | 278,621 | ||||||||||||||||||||
Other mortgage | 391,153 | 243 | 391,396 | ||||||||||||||||||||
Total real estate mortgage | 1,376,815 | 3,574 | 1,380,389 | ||||||||||||||||||||
Consumer | 47,264 | 698 | 47,962 | ||||||||||||||||||||
Total | $ | 2,849,132 | $ | 9,736 | $ | 2,858,868 | |||||||||||||||||
Loans By Past Due Status | ' | ||||||||||||||||||||||
Loans by past due status as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||
September 30, 2014 | 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 and agricultural | $ | - | $ | 117 | $ | 242 | $ | 359 | $ | 717 | $ | 1,381,531 | $ | 1,382,607 | |||||||||
Real estate - construction | 181 | - | - | 181 | 6,967 | 187,358 | 194,506 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | 1,093 | 772,339 | 773,432 | ||||||||||||||||
1-4 family mortgage | 105 | 170 | 948 | 1,223 | 5,149 | 308,406 | 314,778 | ||||||||||||||||
Other mortgage | - | - | - | - | 1,479 | 441,766 | 443,245 | ||||||||||||||||
Total real estate - mortgage | 105 | 170 | 948 | 1,223 | 7,721 | 1,522,511 | 1,531,455 | ||||||||||||||||
Consumer | 7 | 61 | - | 68 | 673 | 50,463 | 51,204 | ||||||||||||||||
Total | $ | 293 | $ | 348 | $ | 1,190 | $ | 1,831 | $ | 16,078 | $ | 3,141,863 | $ | 3,159,772 | |||||||||
December 31, 2013 | 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 and agricultural | $ | 73 | $ | - | $ | - | $ | 73 | $ | 1,714 | $ | 1,276,862 | $ | 1,278,649 | |||||||||
Real estate - construction | - | - | - | - | 3,750 | 148,118 | 151,868 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | 1,435 | 708,937 | 710,372 | ||||||||||||||||
1-4 family mortgage | 177 | - | 19 | 196 | 1,877 | 276,548 | 278,621 | ||||||||||||||||
Other mortgage | - | - | - | - | 243 | 391,153 | 391,396 | ||||||||||||||||
Total real estate - mortgage | 177 | - | 19 | 196 | 3,555 | 1,376,638 | 1,380,389 | ||||||||||||||||
Consumer | 89 | 97 | 96 | 282 | 602 | 47,078 | 47,962 | ||||||||||||||||
Total | $ | 339 | $ | 97 | $ | 115 | $ | 551 | $ | 9,621 | $ | 2,848,696 | $ | 2,858,868 | |||||||||
Changes In Allowance For Loan Losses Segregated By Loan Type | ' | ||||||||||||||||||||||
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 - | |||||||||||||||||||||
agricultural | construction | mortgage | Consumer | Total | |||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2014 | $ | 13,637 | $ | 6,734 | $ | 11,523 | $ | 1,090 | $ | 32,984 | |||||||||||||
Charge-offs | -531 | -610 | -149 | -131 | -1,421 | ||||||||||||||||||
Recoveries | - | 97 | 14 | 20 | 131 | ||||||||||||||||||
Provision | 1,364 | 461 | 905 | 18 | 2,748 | ||||||||||||||||||
Balance at September 30, 2014 | $ | 14,470 | $ | 6,682 | $ | 12,293 | $ | 997 | $ | 34,442 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at June 30, 2013 | $ | 13,794 | $ | 5,788 | $ | 8,856 | $ | 319 | $ | 28,757 | |||||||||||||
Charge-offs | -849 | -394 | -1,746 | -42 | -3,031 | ||||||||||||||||||
Recoveries | 13 | 124 | 24 | 6 | 167 | ||||||||||||||||||
Provision | 910 | 309 | 1,248 | 567 | 3,034 | ||||||||||||||||||
Balance at September 30, 2013 | $ | 13,868 | $ | 5,827 | $ | 8,382 | $ | 850 | $ | 28,927 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 13,576 | $ | 6,078 | $ | 10,065 | $ | 944 | $ | 30,663 | |||||||||||||
Charge-offs | -1,895 | -958 | -1,043 | -207 | -4,103 | ||||||||||||||||||
Recoveries | 46 | 285 | 28 | 23 | 382 | ||||||||||||||||||
Provision | 2,743 | 1,277 | 3,243 | 237 | 7,500 | ||||||||||||||||||
Balance at September 30, 2014 | $ | 14,470 | $ | 6,682 | $ | 12,293 | $ | 997 | $ | 34,442 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 11,061 | $ | 6,907 | $ | 7,964 | $ | 326 | $ | 26,258 | |||||||||||||
Charge-offs | -1,838 | -4,271 | -2,016 | -172 | -8,297 | ||||||||||||||||||
Recoveries | 50 | 226 | 28 | 10 | 314 | ||||||||||||||||||
Provision | 4,595 | 2,965 | 2,406 | 686 | 10,652 | ||||||||||||||||||
Balance at September 30, 2013 | $ | 13,868 | $ | 5,827 | $ | 8,382 | $ | 850 | $ | 28,927 | |||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | 1,229 | 1,764 | 2,660 | 673 | 6,326 | ||||||||||||||||||
Collectively Evaluated for Impairment | 13,241 | 4,918 | 9,633 | 324 | 28,116 | ||||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,382,607 | $ | 194,506 | $ | 1,531,455 | $ | 51,204 | $ | 3,159,772 | |||||||||||||
Individually Evaluated for Impairment | 3,629 | 7,816 | 14,585 | 673 | 26,703 | ||||||||||||||||||
Collectively Evaluated for Impairment | 1,378,978 | 186,690 | 1,516,870 | 50,531 | 3,133,069 | ||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Individually Evaluated for Impairment | 1,992 | 1,597 | 1,982 | 699 | 6,270 | ||||||||||||||||||
Collectively Evaluated for Impairment | 11,584 | 4,481 | 8,083 | 245 | 24,393 | ||||||||||||||||||
Loans: | |||||||||||||||||||||||
Ending Balance | $ | 1,278,649 | $ | 151,868 | $ | 1,380,389 | $ | 47,962 | $ | 2,858,868 | |||||||||||||
Individually Evaluated for Impairment | 3,827 | 9,238 | 18,202 | 699 | 31,966 | ||||||||||||||||||
Collectively Evaluated for Impairment | 1,274,822 | 142,630 | 1,362,187 | 47,263 | 2,826,902 | ||||||||||||||||||
Details Of Company's Impaired Loans | ' | ||||||||||||||||||||||
The following table presents details of the Company’s impaired loans as of September 30, 2014 and December 31, 2013, 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, 2014 | 2014 | 2014 | |||||||||||||||||||||
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 agricultural | $ | 1,700 | $ | 1,700 | $ | - | $ | 1,796 | $ | 26 | $ | 1,927 | $ | 83 | |||||||||
Real estate - construction | 2,054 | 2,054 | - | 2,016 | 11 | 1,910 | 34 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 216 | 216 | - | 219 | 2 | 229 | 7 | ||||||||||||||||
1-4 family mortgage | 1,199 | 1,199 | - | 1,199 | 15 | 1,199 | 45 | ||||||||||||||||
Other mortgage | 2,823 | 2,823 | - | 2,823 | 34 | 2,827 | 118 | ||||||||||||||||
Total real estate - mortgage | 4,238 | 4,238 | - | 4,241 | 51 | 4,255 | 170 | ||||||||||||||||
Consumer | - | - | - | - | - | - | - | ||||||||||||||||
Total with no allowance recorded | 7,992 | 7,992 | - | 8,053 | 88 | 8,092 | 287 | ||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 1,929 | 1,929 | 1,229 | 1,933 | 16 | 1,967 | 70 | ||||||||||||||||
Real estate - construction | 5,762 | 6,643 | 1,764 | 6,130 | - | 6,089 | 20 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,416 | 1,416 | 287 | 1,440 | 9 | 1,475 | 29 | ||||||||||||||||
1-4 family mortgage | 6,296 | 6,296 | 1,591 | 6,354 | 29 | 7,222 | 132 | ||||||||||||||||
Other mortgage | 2,635 | 2,635 | 782 | 2,548 | 20 | 2,813 | 64 | ||||||||||||||||
Total real estate - mortgage | 10,347 | 10,347 | 2,660 | 10,342 | 58 | 11,510 | 225 | ||||||||||||||||
Consumer | 673 | 673 | 673 | 677 | 1 | 684 | - | ||||||||||||||||
Total with allowance recorded | 18,711 | 19,592 | 6,326 | 19,082 | 75 | 20,250 | 315 | ||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,629 | 3,629 | 1,229 | 3,729 | 42 | 3,894 | 153 | ||||||||||||||||
Real estate - construction | 7,816 | 8,697 | 1,764 | 8,146 | 11 | 7,999 | 54 | ||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,632 | 1,632 | 287 | 1,659 | 11 | 1,704 | 36 | ||||||||||||||||
1-4 family mortgage | 7,495 | 7,495 | 1,591 | 7,553 | 44 | 8,421 | 177 | ||||||||||||||||
Other mortgage | 5,458 | 5,458 | 782 | 5,371 | 54 | 5,640 | 182 | ||||||||||||||||
Total real estate - mortgage | 14,585 | 14,585 | 2,660 | 14,583 | 109 | 15,765 | 395 | ||||||||||||||||
Consumer | 673 | 673 | 673 | 677 | 1 | 684 | - | ||||||||||||||||
Total impaired loans | $ | 26,703 | $ | 27,584 | $ | 6,326 | $ | 27,135 | $ | 163 | $ | 28,342 | $ | 602 | |||||||||
31-Dec-13 | |||||||||||||||||||||||
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 | $ | 1,210 | $ | 1,210 | $ | - | $ | 1,196 | $ | 63 | |||||||||||||
Real estate - construction | 1,967 | 2,405 | - | 1,363 | 32 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 577 | 577 | - | 603 | 32 | ||||||||||||||||||
1-4 family mortgage | 1,198 | 1,198 | - | 1,200 | 55 | ||||||||||||||||||
Other mortgage | 2,311 | 2,311 | - | 1,901 | 123 | ||||||||||||||||||
Total real estate - mortgage | 4,086 | 4,086 | - | 3,704 | 210 | ||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||
Total with no allowance recorded | 7,263 | 7,701 | - | 6,263 | 305 | ||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial, financial and agricultural | 2,618 | 2,958 | 1,992 | 2,844 | 98 | ||||||||||||||||||
Real estate - construction | 7,270 | 7,750 | 1,597 | 6,564 | 200 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 1,509 | 1,509 | 620 | 1,573 | 38 | ||||||||||||||||||
1-4 family mortgage | 11,120 | 11,120 | 1,210 | 10,743 | 342 | ||||||||||||||||||
Other mortgage | 1,487 | 1,586 | 152 | 1,873 | 96 | ||||||||||||||||||
Total real estate - mortgage | 14,116 | 14,215 | 1,982 | 14,189 | 476 | ||||||||||||||||||
Consumer | 699 | 699 | 699 | 790 | 28 | ||||||||||||||||||
Total with allowance recorded | 24,703 | 25,622 | 6,270 | 24,387 | 802 | ||||||||||||||||||
Total Impaired Loans: | |||||||||||||||||||||||
Commercial, financial and agricultural | 3,828 | 4,168 | 1,992 | 4,040 | 161 | ||||||||||||||||||
Real estate - construction | 9,237 | 10,155 | 1,597 | 7,927 | 232 | ||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | 2,086 | 2,086 | 620 | 2,176 | 70 | ||||||||||||||||||
1-4 family mortgage | 12,318 | 12,318 | 1,210 | 11,943 | 397 | ||||||||||||||||||
Other mortgage | 3,798 | 3,897 | 152 | 3,774 | 219 | ||||||||||||||||||
Total real estate - mortgage | 18,202 | 18,301 | 1,982 | 17,893 | 686 | ||||||||||||||||||
Consumer | 699 | 699 | 699 | 790 | 28 | ||||||||||||||||||
Total impaired loans | $ | 31,966 | $ | 33,323 | $ | 6,270 | $ | 30,650 | $ | 1,107 | |||||||||||||
Analysis Of Troubled Debt Restructuring | ' | ||||||||||||||||||||||
The tables include modifications made to new TDRs, as well as renewals of existing TDRs. | |||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||
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 | 1 | $ | 390 | $ | 390 | 2 | $ | 889 | $ | 889 | |||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | - | - | |||||||||||||||||
1-4 family mortgage | 1 | 4,449 | 4,449 | 1 | 4,449 | 4,449 | |||||||||||||||||
Other mortgage | 1 | 275 | 275 | 2 | 1,684 | 1,684 | |||||||||||||||||
Total real estate mortgage | 2 | 4,724 | 4,724 | 3 | 6,133 | 6,133 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
3 | $ | 5,114 | $ | 5,114 | 5 | $ | 7,022 | $ | 7,022 | ||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||
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 | 1 | $ | 412 | $ | 412 | 2 | $ | 911 | $ | 911 | |||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | - | - | - | - | - | |||||||||||||||||
1-4 family mortgage | - | - | - | 1 | 4,925 | 4,925 | |||||||||||||||||
Other mortgage | 1 | 294 | 294 | 1 | 294 | 294 | |||||||||||||||||
Total real estate mortgage | 1 | 294 | 294 | 2 | 5,219 | 5,219 | |||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||
2 | $ | 706 | $ | 706 | 4 | $ | 6,130 | $ | 6,130 | ||||||||||||||
The following table presents TDRs by portfolio segment which defaulted during the three and nine months ended September 30, 2014 and 2013, and which were modified in the previous twelve months (i.e., the twelve months prior to default). For purposes of this disclosure default is defined as 90 days past due and still accruing or placement on nonaccrual status. | |||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Defaulted during the period, where modified in a TDR twelve months prior to default | |||||||||||||||||||||||
Commercial, financial and agricultural | $ | - | $ | - | $ | - | $ | - | |||||||||||||||
Real estate - construction | - | - | - | - | |||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||
Owner-occupied commercial | - | 3,121 | - | 3,121 | |||||||||||||||||||
1-4 family mortgage | 4,313 | - | 4,313 | - | |||||||||||||||||||
Other mortgage | - | - | - | - | |||||||||||||||||||
Total real estate mortgage | 4,313 | 3,121 | 4,313 | 3,121 | |||||||||||||||||||
Consumer | - | - | - | - | |||||||||||||||||||
$ | 4,313 | $ | 3,121 | $ | 4,313 | $ | 3,121 | ||||||||||||||||
EMPLOYEE_AND_DIRECTOR_BENEFITS1
EMPLOYEE AND DIRECTOR BENEFITS (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
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 | ' | |||||||||||||
Treasury yield curve in effect at the time of grant. | ||||||||||||||
2014 | 2013 | |||||||||||||
Expected volatility | 19.25 | % | 18.5 | % | ||||||||||
Expected dividends | 1.45 | % | - | % | ||||||||||
Expected term (in years) | 7.75 | 7.5 | ||||||||||||
Risk-free rate | 2.33 | % | 1.39 | % | ||||||||||
Summary Of Stock Option Activity | ' | |||||||||||||
The following table summarizes stock option activity during the nine months ended September 30, 2014 and September 30, 2013: | ||||||||||||||
Weighted | ||||||||||||||
Weighted | Average | |||||||||||||
Average | Remaining | Aggregate | ||||||||||||
Exercise | Contractual | Intrinsic | ||||||||||||
Shares | Price | Term (years) | Value | |||||||||||
(In Thousands) | ||||||||||||||
Nine Months Ended September 30, 2014: | ||||||||||||||
Outstanding at January 1, 2014 | 2,328,900 | $ | 7.69 | 5.5 | $ | 14,300 | ||||||||
Granted | 114,000 | 13.83 | 9.4 | 1,707 | ||||||||||
Exercised | -821,400 | 5.77 | 2.6 | 18,920 | ||||||||||
Forfeited | - | - | - | - | ||||||||||
Outstanding at September 30, 2014 | 1,621,500 | 9.1 | 6.1 | $ | 31,942 | |||||||||
Exercisable at September 30, 2014 | 609,000 | $ | 7.17 | 4.7 | $ | 13,174 | ||||||||
Nine Months Ended September 30, 2013: | ||||||||||||||
Outstanding at January 1, 2013 | 2,449,500 | $ | 6.96 | 5.8 | $ | 9,905 | ||||||||
Granted | 75,000 | 11 | 9.5 | - | ||||||||||
Exercised | -129,000 | 4.81 | 2.8 | 1,054 | ||||||||||
Forfeited | -9,000 | 6.67 | 4.2 | 65 | ||||||||||
Outstanding at September 30, 2013 | 2,386,500 | 7.2 | 5.3 | $ | 15,828 | |||||||||
Exercisable at September 30, 2013 | 1,553,232 | $ | 5.1 | 3.1 | $ | 13,563 | ||||||||
FAIR_VALUE_MEASUREMENT_Tables
FAIR VALUE MEASUREMENT (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
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, 2014 and December 31, 2013: | ||||||||||||||
Fair Value Measurements at September 30, 2014 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 | $ | - | $ | 50,888 | $ | - | $ | 50,888 | ||||||
Mortgage-backed securities | - | 100,622 | - | 100,622 | ||||||||||
State and municipal securities | - | 134,746 | - | 134,746 | ||||||||||
Corporate debt | - | 16,047 | - | 16,047 | ||||||||||
Total assets at fair value | $ | - | $ | 302,303 | $ | - | $ | 302,303 | ||||||
Fair Value Measurements at December 31, 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 | $ | - | $ | 32,274 | $ | - | $ | 32,274 | ||||||
Mortgage-backed securities | - | 88,240 | - | 88,240 | ||||||||||
State and municipal securities | - | 129,831 | - | 129,831 | ||||||||||
Corporate debt | - | 15,875 | - | 15,875 | ||||||||||
Total assets at fair value | $ | - | $ | 266,220 | $ | - | $ | 266,220 | ||||||
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, 2014 and December 31, 2013: | ||||||||||||||
Fair Value Measurements at September 30, 2014 Using | ||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | |||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 20,377 | $ | 20,377 | ||||||
Other real estate owned and repossessed assets | - | - | 6,940 | 6,940 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 27,317 | $ | 27,317 | ||||||
Fair Value Measurements at December 31, 2013 Using | ||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | |||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | ||||||||||||
(Level 1) | ||||||||||||||
(In Thousands) | ||||||||||||||
Assets Measured on a Nonrecurring Basis: | ||||||||||||||
Impaired loans | $ | - | $ | - | $ | 25,696 | $ | 25,696 | ||||||
Other real estate owned and repossessed assets | - | - | 12,861 | 12,861 | ||||||||||
Total assets at fair value | $ | - | $ | - | $ | 38,557 | $ | 38,557 | ||||||
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, 2014 and December 31, 2013 are presented in the following table. This table includes those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. | ||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||
Carrying | Carrying | |||||||||||||
Amount | Fair Value | Amount | Fair Value | |||||||||||
(In Thousands) | ||||||||||||||
Financial Assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Available for sale debt securities | $ | 302,303 | $ | 302,303 | $ | 266,220 | $ | 266,220 | ||||||
Held to maturity debt securities | 30,048 | 30,248 | 32,274 | 31,315 | ||||||||||
Restricted equity securities | 3,418 | 3,418 | 3,738 | 3,738 | ||||||||||
Federal funds sold | 6,566 | 6,566 | 8,634 | 8,634 | ||||||||||
Mortgage loans held for sale | 9,037 | 9,037 | 8,134 | 8,134 | ||||||||||
Bank owned life insurance contracts | 85,639 | 85,639 | 69,008 | 69,008 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 3,125,330 | 3,133,676 | 2,828,205 | 2,825,924 | ||||||||||
Financial Liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | $ | 3,352,766 | $ | 3,352,767 | $ | 3,019,642 | $ | 3,021,847 | ||||||
Federal funds purchased | 178,230 | 178,230 | 174,380 | 174,380 | ||||||||||
Other borrowings | 19,965 | 19,965 | 19,940 | 19,940 | ||||||||||
EARNINGS_PER_COMMON_SHARE_Summ
EARNINGS PER COMMON SHARE (Summary of Earning Per Common Share) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share, Basic | ' | ' | ' | ' |
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 |
Net income available to common stockholders | $13,902 | $10,712 | $37,029 | $29,449 |
Basic earnings per common share | $0.56 | $0.51 | $1.57 | $1.45 |
Weighted average common shares outstanding | 24,761,632 | 21,057,207 | 23,539,218 | 20,306,034 |
Dilutive effects of assumed conversions and exercise of stock options and warrants | 1,191,251 | 908,526 | 1,059,032 | 1,313,520 |
Weighted average common and dilutive potential common shares outstanding | 25,952,883 | 21,965,733 | 24,598,250 | 21,619,554 |
Net income available to common stockholders | 13,902 | 10,712 | 37,029 | 29,449 |
Effect of interest expense on convertible debt, net of tax and discretionary expenditures related to conversion | 0 | 0 | 0 | 115 |
Net income available to common stockholders, adjusted for effect of debt conversion | $13,902 | $10,712 | $37,029 | $29,564 |
Diluted earnings per common share | $0.54 | $0.49 | $1.51 | $1.37 |
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, 2014 | Dec. 31, 2013 |
Securities Available for Sale | ' | ' |
Amortized Cost | $295,088 | $260,226 |
Gross Unrealized Gain | 7,506 | 6,841 |
Gross Unrealized Loss | -291 | -847 |
Market Value | 302,303 | 266,220 |
Securities Held to Maturity | ' | ' |
Amortized Cost | 30,048 | 32,274 |
Gross Unrealized Gain | 817 | 463 |
Gross Unrealized Loss | -617 | -1,422 |
Market Value | 30,248 | 31,315 |
U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Securities Available for Sale | ' | ' |
Amortized Cost | 50,315 | 31,641 |
Gross Unrealized Gain | 586 | 674 |
Gross Unrealized Loss | -13 | -41 |
Market Value | 50,888 | 32,274 |
Mortgage-Backed Securities [Member] | ' | ' |
Securities Available for Sale | ' | ' |
Amortized Cost | 97,992 | 85,764 |
Gross Unrealized Gain | 2,729 | 2,574 |
Gross Unrealized Loss | -99 | -98 |
Market Value | 100,622 | 88,240 |
Securities Held to Maturity | ' | ' |
Amortized Cost | 24,499 | 26,730 |
Gross Unrealized Gain | 365 | 266 |
Gross Unrealized Loss | -617 | -1,422 |
Market Value | 24,247 | 25,574 |
State and Municipal Securities [Member] | ' | ' |
Securities Available for Sale | ' | ' |
Amortized Cost | 130,981 | 127,083 |
Gross Unrealized Gain | 3,944 | 3,430 |
Gross Unrealized Loss | -179 | -682 |
Market Value | 134,746 | 129,831 |
Securities Held to Maturity | ' | ' |
Amortized Cost | 5,549 | 5,544 |
Gross Unrealized Gain | 452 | 197 |
Gross Unrealized Loss | 0 | 0 |
Market Value | 6,001 | 5,741 |
Corporate Debt [Member] | ' | ' |
Securities Available for Sale | ' | ' |
Amortized Cost | 15,800 | 15,738 |
Gross Unrealized Gain | 247 | 163 |
Gross Unrealized Loss | 0 | -26 |
Market Value | $16,047 | $15,875 |
SECURITIES_Amortized_Cost_And_1
SECURITIES (Amortized Cost And Fair Value Of Contractual Securities) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Available-for-sale | ' | ' |
Amortized Cost | $295,088 | $260,226 |
Fair Value | 302,303 | 266,220 |
Held-to-maturity | ' | ' |
Amortized Cost | 30,048 | 32,274 |
Fair Value | 30,248 | 31,315 |
Less than one year [Member] | ' | ' |
Available-for-sale | ' | ' |
Amortized Cost | 7,764 | ' |
Fair Value | 7,870 | ' |
Held-to-maturity | ' | ' |
Amortized Cost | 0 | ' |
Fair Value | 0 | ' |
One year to five years [Member] | ' | ' |
Available-for-sale | ' | ' |
Amortized Cost | 120,879 | ' |
Fair Value | 123,673 | ' |
Held-to-maturity | ' | ' |
Amortized Cost | 0 | ' |
Fair Value | 0 | ' |
Five years to ten years [Member] | ' | ' |
Available-for-sale | ' | ' |
Amortized Cost | 67,922 | ' |
Fair Value | 69,572 | ' |
Held-to-maturity | ' | ' |
Amortized Cost | 297 | ' |
Fair Value | 322 | ' |
More than Ten years [Member] | ' | ' |
Available-for-sale | ' | ' |
Amortized Cost | 531 | ' |
Fair Value | 566 | ' |
Held-to-maturity | ' | ' |
Amortized Cost | 5,252 | ' |
Fair Value | 5,679 | ' |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale | ' | ' |
Amortized Cost | 97,992 | ' |
Fair Value | 100,622 | ' |
Held-to-maturity | ' | ' |
Amortized Cost | 24,499 | ' |
Fair Value | $24,247 | ' |
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, 2014 | Dec. 31, 2013 |
Gross Unrealized Losses | ($908) | ($2,269) |
Fair Value | 63,110 | 73,977 |
U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Gross Unrealized Losses | -13 | -41 |
Fair Value | 6,908 | 5,854 |
Mortgage-Backed Securities [Member] | ' | ' |
Gross Unrealized Losses | -716 | -1,520 |
Fair Value | 36,466 | 28,056 |
State and Municipal Securities [Member] | ' | ' |
Gross Unrealized Losses | -179 | -682 |
Fair Value | 19,736 | 34,109 |
Corporate Debt [Member] | ' | ' |
Gross Unrealized Losses | 0 | -26 |
Fair Value | 0 | 5,958 |
Less Than Twelve Months [Member] | ' | ' |
Gross Unrealized Losses | -120 | -1,526 |
Fair Value | 32,970 | 63,843 |
Less Than Twelve Months [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Gross Unrealized Losses | -13 | -41 |
Fair Value | 6,908 | 5,854 |
Less Than Twelve Months [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Gross Unrealized Losses | -68 | -852 |
Fair Value | 18,447 | 21,365 |
Less Than Twelve Months [Member] | State and Municipal Securities [Member] | ' | ' |
Gross Unrealized Losses | -39 | -607 |
Fair Value | 7,615 | 30,666 |
Less Than Twelve Months [Member] | Corporate Debt [Member] | ' | ' |
Gross Unrealized Losses | 0 | -26 |
Fair Value | 0 | 5,958 |
Twelve Months Or More [Member] | ' | ' |
Gross Unrealized Losses | -788 | -743 |
Fair Value | 30,140 | 10,134 |
Twelve Months Or More [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 0 | 0 |
Twelve Months Or More [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Gross Unrealized Losses | -648 | -668 |
Fair Value | 18,019 | 6,691 |
Twelve Months Or More [Member] | State and Municipal Securities [Member] | ' | ' |
Gross Unrealized Losses | -140 | -75 |
Fair Value | 12,121 | 3,443 |
Twelve Months Or More [Member] | Corporate Debt [Member] | ' | ' |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $0 | $0 |
SECURITIES_Additional_Informat
SECURITIES (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Proceeds from Sale of Available-for-sale Securities, Debt | $173,000 | $173,000 | $0 |
Available-for-sale Debt Securities Gross Unrealized Gain | 3,000 | ' | ' |
Two Corporate Debt Securities [Member] | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities, Debt | ' | ' | 4,100,000 |
Available-for-sale Debt Securities Gross Unrealized Gain | ' | ' | $131,000 |
LOANS_Details_Of_Loans_Detail
LOANS (Details Of Loans) (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | $3,159,772 | ' | $2,858,868 | ' | ' | ' |
Less allowance for loan losses | -34,442 | -32,984 | -30,663 | -28,927 | -28,757 | -26,258 |
Net Loans | 3,125,330 | ' | 2,828,205 | ' | ' | ' |
Total Loans | 100.00% | ' | 100.00% | ' | ' | ' |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 1,382,607 | ' | 1,278,649 | ' | ' | ' |
Less allowance for loan losses | -14,470 | -13,637 | -13,576 | -13,868 | -13,794 | -11,061 |
Total Loans | 43.76% | ' | 44.73% | ' | ' | ' |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 194,506 | ' | 151,868 | ' | ' | ' |
Less allowance for loan losses | -6,682 | -6,734 | -6,078 | -5,827 | -5,788 | -6,907 |
Total Loans | 6.15% | ' | 5.31% | ' | ' | ' |
Commercial Mortgage Loans Owner Occupied [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 773,432 | ' | 710,372 | ' | ' | ' |
Total Loans | 24.48% | ' | 24.85% | ' | ' | ' |
One To Four Family Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 314,778 | ' | 278,621 | ' | ' | ' |
Total Loans | 9.96% | ' | 9.74% | ' | ' | ' |
Other Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 443,245 | ' | 391,396 | ' | ' | ' |
Total Loans | 14.03% | ' | 13.69% | ' | ' | ' |
Residential Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 1,531,455 | ' | 1,380,389 | ' | ' | ' |
Less allowance for loan losses | -12,293 | -11,523 | -10,065 | -8,382 | -8,856 | -7,964 |
Total Loans | 48.47% | ' | 48.28% | ' | ' | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' |
Accounts Notes and Loans Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total Loans | 51,204 | ' | 47,962 | ' | ' | ' |
Less allowance for loan losses | ($997) | ($1,090) | ($944) | ($850) | ($319) | ($326) |
Total Loans | 1.62% | ' | 1.68% | ' | ' | ' |
LOANS_Loans_By_Credit_Quality_
LOANS (Loans By Credit Quality Indicator) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | $3,159,772 | $2,858,868 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,382,607 | 1,278,649 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 194,506 | 151,868 |
Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 773,432 | 710,372 |
One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 314,778 | 278,621 |
Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 443,245 | 391,396 |
Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,531,455 | 1,380,389 |
Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 51,204 | 47,962 |
Pass [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 3,083,076 | 2,765,716 |
Pass [Member] | Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,353,330 | 1,238,109 |
Pass [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 181,357 | 139,239 |
Pass [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 764,902 | 696,687 |
Pass [Member] | One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 304,005 | 265,019 |
Pass [Member] | Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 428,997 | 379,419 |
Pass [Member] | Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,497,904 | 1,341,125 |
Pass [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 50,485 | 47,243 |
Special Mention [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 49,993 | 59,255 |
Special Mention [Member] | Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 25,648 | 34,883 |
Special Mention [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 5,333 | 3,392 |
Special Mention [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 6,898 | 11,545 |
Special Mention [Member] | One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 3,278 | 1,253 |
Special Mention [Member] | Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 8,790 | 8,179 |
Special Mention [Member] | Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 18,966 | 20,977 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 46 | 3 |
Substandard [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 26,703 | 33,897 |
Substandard [Member] | Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 3,629 | 5,657 |
Substandard [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 7,816 | 9,237 |
Substandard [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,632 | 2,140 |
Substandard [Member] | One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 7,495 | 12,349 |
Substandard [Member] | Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 5,458 | 3,798 |
Substandard [Member] | Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 14,585 | 18,287 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 673 | 716 |
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, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | $3,159,772 | $2,858,868 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,382,607 | 1,278,649 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 194,506 | 151,868 |
Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 773,432 | 710,372 |
One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 314,778 | 278,621 |
Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 443,245 | 391,396 |
Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,531,455 | 1,380,389 |
Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 51,204 | 47,962 |
Performing Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 3,142,504 | 2,849,132 |
Performing Financing Receivable [Member] | Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,381,648 | 1,276,935 |
Performing Financing Receivable [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 187,539 | 148,118 |
Performing Financing Receivable [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 772,339 | 708,937 |
Performing Financing Receivable [Member] | One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 308,681 | 276,725 |
Performing Financing Receivable [Member] | Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 441,766 | 391,153 |
Performing Financing Receivable [Member] | Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,522,786 | 1,376,815 |
Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 50,531 | 47,264 |
Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 17,268 | 9,736 |
Nonperforming Financing Receivable [Member] | Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 959 | 1,714 |
Nonperforming Financing Receivable [Member] | Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 6,967 | 3,750 |
Nonperforming Financing Receivable [Member] | Commercial Mortgage Loans Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,093 | 1,435 |
Nonperforming Financing Receivable [Member] | One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 6,097 | 1,896 |
Nonperforming Financing Receivable [Member] | Other Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 1,479 | 243 |
Nonperforming Financing Receivable [Member] | Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | 8,669 | 3,574 |
Nonperforming Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment [Line Items] | ' | ' |
Loans | $673 | $698 |
LOANS_Loans_By_Past_Due_Status
LOANS (Loans By Past Due Status) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | $293 | $339 |
Past Due Status (Accruing Loans) 60-89 Days | 348 | 97 |
Past Due Status (Accruing Loans) 90+ Days | 1,190 | 115 |
Past Due Status (Accruing Loans) Total Past Due | 1,831 | 551 |
Non-Accrual | 16,078 | 9,621 |
Current | 3,141,863 | 2,848,696 |
Total Loans | 3,159,772 | 2,858,868 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | 0 | 73 |
Past Due Status (Accruing Loans) 60-89 Days | 117 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 242 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 359 | 73 |
Non-Accrual | 717 | 1,714 |
Current | 1,381,531 | 1,276,862 |
Total Loans | 1,382,607 | 1,278,649 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' |
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | 181 | 0 |
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 | 181 | 0 |
Non-Accrual | 6,967 | 3,750 |
Current | 187,358 | 148,118 |
Total Loans | 194,506 | 151,868 |
Commercial Mortgage Loans Owner Occupied [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 | 0 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 0 | 0 |
Non-Accrual | 1,093 | 1,435 |
Current | 772,339 | 708,937 |
Total Loans | 773,432 | 710,372 |
One To Four Family Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | 105 | 177 |
Past Due Status (Accruing Loans) 60-89 Days | 170 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 948 | 19 |
Past Due Status (Accruing Loans) Total Past Due | 1,223 | 196 |
Non-Accrual | 5,149 | 1,877 |
Current | 308,406 | 276,548 |
Total Loans | 314,778 | 278,621 |
Other Real Estate Mortgage Loans [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 | 0 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 0 |
Past Due Status (Accruing Loans) Total Past Due | 0 | 0 |
Non-Accrual | 1,479 | 243 |
Current | 441,766 | 391,153 |
Total Loans | 443,245 | 391,396 |
Residential Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | 105 | 177 |
Past Due Status (Accruing Loans) 60-89 Days | 170 | 0 |
Past Due Status (Accruing Loans) 90+ Days | 948 | 19 |
Past Due Status (Accruing Loans) Total Past Due | 1,223 | 196 |
Non-Accrual | 7,721 | 3,555 |
Current | 1,522,511 | 1,376,638 |
Total Loans | 1,531,455 | 1,380,389 |
Consumer Portfolio Segment [Member] | ' | ' |
Financing Receivable Recorded Investment Past Due [Line Items] | ' | ' |
Past Due Status (Accruing Loans) 30-59 Days | 7 | 89 |
Past Due Status (Accruing Loans) 60-89 Days | 61 | 97 |
Past Due Status (Accruing Loans) 90+ Days | 0 | 96 |
Past Due Status (Accruing Loans) Total Past Due | 68 | 282 |
Non-Accrual | 673 | 602 |
Current | 50,463 | 47,078 |
Total Loans | $51,204 | $47,962 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Allowance For Loan Losses | ' | ' | ' | ' | ' |
Balance, beginning of year | $32,984 | $28,757 | $30,663 | $26,258 | ' |
Charge-offs | -1,421 | -3,031 | -4,103 | -8,297 | ' |
Recoveries | 131 | 167 | 382 | 314 | ' |
Provision | 2,748 | 3,034 | 7,500 | 10,652 | ' |
Balance, end of year | 34,442 | 28,927 | 34,442 | 28,927 | ' |
Individually Evaluated for Impairment | 6,326 | ' | 6,326 | ' | 6,270 |
Collectively Evaluated for Impairment | 28,116 | ' | 28,116 | ' | 24,393 |
Ending Balance | 3,159,772 | ' | 3,159,772 | ' | 2,858,868 |
Individually Evaluated for Impairment | 26,703 | ' | 26,703 | ' | 31,966 |
Collectively Evaluated for Impairment | 3,133,069 | ' | 3,133,069 | ' | 2,826,902 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' | ' | ' | ' |
Allowance For Loan Losses | ' | ' | ' | ' | ' |
Balance, beginning of year | 13,637 | 13,794 | 13,576 | 11,061 | ' |
Charge-offs | -531 | -849 | -1,895 | -1,838 | ' |
Recoveries | 0 | 13 | 46 | 50 | ' |
Provision | 1,364 | 910 | 2,743 | 4,595 | ' |
Balance, end of year | 14,470 | 13,868 | 14,470 | 13,868 | ' |
Individually Evaluated for Impairment | 1,229 | ' | 1,229 | ' | 1,992 |
Collectively Evaluated for Impairment | 13,241 | ' | 13,241 | ' | 11,584 |
Ending Balance | 1,382,607 | ' | 1,382,607 | ' | 1,278,649 |
Individually Evaluated for Impairment | 3,629 | ' | 3,629 | ' | 3,827 |
Collectively Evaluated for Impairment | 1,378,978 | ' | 1,378,978 | ' | 1,274,822 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' | ' | ' | ' |
Allowance For Loan Losses | ' | ' | ' | ' | ' |
Balance, beginning of year | 6,734 | 5,788 | 6,078 | 6,907 | ' |
Charge-offs | -610 | -394 | -958 | -4,271 | ' |
Recoveries | 97 | 124 | 285 | 226 | ' |
Provision | 461 | 309 | 1,277 | 2,965 | ' |
Balance, end of year | 6,682 | 5,827 | 6,682 | 5,827 | ' |
Individually Evaluated for Impairment | 1,764 | ' | 1,764 | ' | 1,597 |
Collectively Evaluated for Impairment | 4,918 | ' | 4,918 | ' | 4,481 |
Ending Balance | 194,506 | ' | 194,506 | ' | 151,868 |
Individually Evaluated for Impairment | 7,816 | ' | 7,816 | ' | 9,238 |
Collectively Evaluated for Impairment | 186,690 | ' | 186,690 | ' | 142,630 |
Residential Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Allowance For Loan Losses | ' | ' | ' | ' | ' |
Balance, beginning of year | 11,523 | 8,856 | 10,065 | 7,964 | ' |
Charge-offs | -149 | -1,746 | -1,043 | -2,016 | ' |
Recoveries | 14 | 24 | 28 | 28 | ' |
Provision | 905 | 1,248 | 3,243 | 2,406 | ' |
Balance, end of year | 12,293 | 8,382 | 12,293 | 8,382 | ' |
Individually Evaluated for Impairment | 2,660 | ' | 2,660 | ' | 1,982 |
Collectively Evaluated for Impairment | 9,633 | ' | 9,633 | ' | 8,083 |
Ending Balance | 1,531,455 | ' | 1,531,455 | ' | 1,380,389 |
Individually Evaluated for Impairment | 14,585 | ' | 14,585 | ' | 18,202 |
Collectively Evaluated for Impairment | 1,516,870 | ' | 1,516,870 | ' | 1,362,187 |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' | ' |
Allowance For Loan Losses | ' | ' | ' | ' | ' |
Balance, beginning of year | 1,090 | 319 | 944 | 326 | ' |
Charge-offs | -131 | -42 | -207 | -172 | ' |
Recoveries | 20 | 6 | 23 | 10 | ' |
Provision | 18 | 567 | 237 | 686 | ' |
Balance, end of year | 997 | 850 | 997 | 850 | ' |
Individually Evaluated for Impairment | 673 | ' | 673 | ' | 699 |
Collectively Evaluated for Impairment | 324 | ' | 324 | ' | 245 |
Ending Balance | 51,204 | ' | 51,204 | ' | 47,962 |
Individually Evaluated for Impairment | 673 | ' | 673 | ' | 699 |
Collectively Evaluated for Impairment | $50,531 | ' | $50,531 | ' | $47,263 |
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, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | $7,992 | $7,992 | $7,263 |
Unpaid Principal Balance, with no allowance recorded | 7,992 | 7,992 | 7,701 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 8,053 | 8,092 | 6,263 |
Interest Income Recognized in Period, with no allowance recorded | 88 | 287 | 305 |
Recorded Investment, with an allowance recorded | 18,711 | 18,711 | 24,703 |
Unpaid Principal Balance, with an allowance recorded | 19,592 | 19,592 | 25,622 |
Related Allowance with an allowance recorded | 6,326 | 6,326 | 6,270 |
Average Recorded Investment , with an allowance recorded | 19,082 | 20,250 | 24,387 |
Interest Income Recognized in Period, with an allowance recorded | 75 | 315 | 802 |
Recorded Investment | 26,703 | 26,703 | 31,966 |
Unpaid Principal Balance | 27,584 | 27,584 | 33,323 |
Average Recorded Investment | 27,135 | 28,342 | 30,650 |
Interest Income Recognized in Period | 163 | 602 | 1,107 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 1,700 | 1,700 | 1,210 |
Unpaid Principal Balance, with no allowance recorded | 1,700 | 1,700 | 1,210 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 1,796 | 1,927 | 1,196 |
Interest Income Recognized in Period, with no allowance recorded | 26 | 83 | 63 |
Recorded Investment, with an allowance recorded | 1,929 | 1,929 | 2,618 |
Unpaid Principal Balance, with an allowance recorded | 1,929 | 1,929 | 2,958 |
Related Allowance with an allowance recorded | 1,229 | 1,229 | 1,992 |
Average Recorded Investment , with an allowance recorded | 1,933 | 1,967 | 2,844 |
Interest Income Recognized in Period, with an allowance recorded | 16 | 70 | 98 |
Recorded Investment | 3,629 | 3,629 | 3,828 |
Unpaid Principal Balance | 3,629 | 3,629 | 4,168 |
Average Recorded Investment | 3,729 | 3,894 | 4,040 |
Interest Income Recognized in Period | 42 | 153 | 161 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 2,054 | 2,054 | 1,967 |
Unpaid Principal Balance, with no allowance recorded | 2,054 | 2,054 | 2,405 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 2,016 | 1,910 | 1,363 |
Interest Income Recognized in Period, with no allowance recorded | 11 | 34 | 32 |
Recorded Investment, with an allowance recorded | 5,762 | 5,762 | 7,270 |
Unpaid Principal Balance, with an allowance recorded | 6,643 | 6,643 | 7,750 |
Related Allowance with an allowance recorded | 1,764 | 1,764 | 1,597 |
Average Recorded Investment , with an allowance recorded | 6,130 | 6,089 | 6,564 |
Interest Income Recognized in Period, with an allowance recorded | 0 | 20 | 200 |
Recorded Investment | 7,816 | 7,816 | 9,237 |
Unpaid Principal Balance | 8,697 | 8,697 | 10,155 |
Average Recorded Investment | 8,146 | 7,999 | 7,927 |
Interest Income Recognized in Period | 11 | 54 | 232 |
Commercial Mortgage Loans Owner Occupied [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 216 | 216 | 577 |
Unpaid Principal Balance, with no allowance recorded | 216 | 216 | 577 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 219 | 229 | 603 |
Interest Income Recognized in Period, with no allowance recorded | 2 | 7 | 32 |
Recorded Investment, with an allowance recorded | 1,416 | 1,416 | 1,509 |
Unpaid Principal Balance, with an allowance recorded | 1,416 | 1,416 | 1,509 |
Related Allowance with an allowance recorded | 287 | 287 | 620 |
Average Recorded Investment , with an allowance recorded | 1,440 | 1,475 | 1,573 |
Interest Income Recognized in Period, with an allowance recorded | 9 | 29 | 38 |
Recorded Investment | 1,632 | 1,632 | 2,086 |
Unpaid Principal Balance | 1,632 | 1,632 | 2,086 |
Average Recorded Investment | 1,659 | 1,704 | 2,176 |
Interest Income Recognized in Period | 11 | 36 | 70 |
One To Four Family Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 1,199 | 1,199 | 1,198 |
Unpaid Principal Balance, with no allowance recorded | 1,199 | 1,199 | 1,198 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 1,199 | 1,199 | 1,200 |
Interest Income Recognized in Period, with no allowance recorded | 15 | 45 | 55 |
Recorded Investment, with an allowance recorded | 6,296 | 6,296 | 11,120 |
Unpaid Principal Balance, with an allowance recorded | 6,296 | 6,296 | 11,120 |
Related Allowance with an allowance recorded | 1,591 | 1,591 | 1,210 |
Average Recorded Investment , with an allowance recorded | 6,354 | 7,222 | 10,743 |
Interest Income Recognized in Period, with an allowance recorded | 29 | 132 | 342 |
Recorded Investment | 7,495 | 7,495 | 12,318 |
Unpaid Principal Balance | 7,495 | 7,495 | 12,318 |
Average Recorded Investment | 7,553 | 8,421 | 11,943 |
Interest Income Recognized in Period | 44 | 177 | 397 |
Other Real Estate Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 2,823 | 2,823 | 2,311 |
Unpaid Principal Balance, with no allowance recorded | 2,823 | 2,823 | 2,311 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 2,823 | 2,827 | 1,901 |
Interest Income Recognized in Period, with no allowance recorded | 34 | 118 | 123 |
Recorded Investment, with an allowance recorded | 2,635 | 2,635 | 1,487 |
Unpaid Principal Balance, with an allowance recorded | 2,635 | 2,635 | 1,586 |
Related Allowance with an allowance recorded | 782 | 782 | 152 |
Average Recorded Investment , with an allowance recorded | 2,548 | 2,813 | 1,873 |
Interest Income Recognized in Period, with an allowance recorded | 20 | 64 | 96 |
Recorded Investment | 5,458 | 5,458 | 3,798 |
Unpaid Principal Balance | 5,458 | 5,458 | 3,897 |
Average Recorded Investment | 5,371 | 5,640 | 3,774 |
Interest Income Recognized in Period | 54 | 182 | 219 |
Residential Real Estate Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 4,238 | 4,238 | 4,086 |
Unpaid Principal Balance, with no allowance recorded | 4,238 | 4,238 | 4,086 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 4,241 | 4,255 | 3,704 |
Interest Income Recognized in Period, with no allowance recorded | 51 | 170 | 210 |
Recorded Investment, with an allowance recorded | 10,347 | 10,347 | 14,116 |
Unpaid Principal Balance, with an allowance recorded | 10,347 | 10,347 | 14,215 |
Related Allowance with an allowance recorded | 2,660 | 2,660 | 1,982 |
Average Recorded Investment , with an allowance recorded | 10,342 | 11,510 | 14,189 |
Interest Income Recognized in Period, with an allowance recorded | 58 | 225 | 476 |
Recorded Investment | 14,585 | 14,585 | 18,202 |
Unpaid Principal Balance | 14,585 | 14,585 | 18,301 |
Average Recorded Investment | 14,583 | 15,765 | 17,893 |
Interest Income Recognized in Period | 109 | 395 | 686 |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Financing Receivable Impaired [Line Items] | ' | ' | ' |
Recorded Investment, with no allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, with no allowance recorded | 0 | 0 | 0 |
Related Allowance, with no allowance recorded | 0 | 0 | 0 |
Average Recorded Investment , with no allowance recorded | 0 | 0 | 0 |
Interest Income Recognized in Period, with no allowance recorded | 0 | 0 | 0 |
Recorded Investment, with an allowance recorded | 673 | 673 | 699 |
Unpaid Principal Balance, with an allowance recorded | 673 | 673 | 699 |
Related Allowance with an allowance recorded | 673 | 673 | 699 |
Average Recorded Investment , with an allowance recorded | 677 | 684 | 790 |
Interest Income Recognized in Period, with an allowance recorded | 1 | 0 | 28 |
Recorded Investment | 673 | 673 | 699 |
Unpaid Principal Balance | 673 | 673 | 699 |
Average Recorded Investment | 677 | 684 | 790 |
Interest Income Recognized in Period | $1 | $0 | $28 |
LOANS_Analysis_Of_Troubled_Deb
LOANS (Analysis Of Troubled Debt Restructuring) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contracts | Contracts | Contracts | Contracts | |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 3 | 2 | 5 | 4 |
Pre- Modification Outstanding Recorded Investment | $5,114 | $706 | $7,022 | $6,130 |
Post- Modification Outstanding Recorded Investment | 5,114 | 706 | 7,022 | 6,130 |
Previous Twelve Months Recorded Investment | 4,313 | 3,121 | 4,313 | 3,121 |
Commercial Financial and Agricultural Financing Receivable [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | 1 | 2 | 2 |
Pre- Modification Outstanding Recorded Investment | 390 | 412 | 889 | 911 |
Post- Modification Outstanding Recorded Investment | 390 | 412 | 889 | 911 |
Previous Twelve Months Recorded Investment | 0 | 0 | ' | 0 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Post- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Previous Twelve Months Recorded Investment | 0 | 0 | 0 | 0 |
Commercial Mortgage Loans Owner Occupied [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Post- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Previous Twelve Months Recorded Investment | 0 | 3,121 | 0 | 3,121 |
One To Four Family Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | 0 | 1 | 1 |
Pre- Modification Outstanding Recorded Investment | 4,449 | 0 | 4,449 | 4,925 |
Post- Modification Outstanding Recorded Investment | 4,449 | 0 | 4,449 | 4,925 |
Previous Twelve Months Recorded Investment | 4,313 | 0 | 4,313 | 0 |
Other Real Estate Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | 1 | 2 | 1 |
Pre- Modification Outstanding Recorded Investment | 275 | 294 | 1,684 | 294 |
Post- Modification Outstanding Recorded Investment | 275 | 294 | 1,684 | 294 |
Previous Twelve Months Recorded Investment | 0 | 0 | 0 | 0 |
Residential Real Estate Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 2 | 1 | 3 | 2 |
Pre- Modification Outstanding Recorded Investment | 4,724 | 294 | 6,133 | 5,219 |
Post- Modification Outstanding Recorded Investment | 4,724 | 294 | 6,133 | 5,219 |
Previous Twelve Months Recorded Investment | 4,313 | 3,121 | 4,313 | 3,121 |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Financing Receivable Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Pre- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Post- Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Previous Twelve Months Recorded Investment | $0 | $0 | $0 | $0 |
LOANS_Additional_Information_D
LOANS (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Troubled Debt Restructuring Debtor Current Period [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructurings | $5,114,000 | $706,000 | $7,022,000 | $6,130,000 | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | ' | ' | 1,900,000 | 800,000 | 2,400,000 |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | ' | ' | 2,100,000 | ' | ' |
Eleven TDR Loan [Member] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring Debtor Current Period [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructurings | ' | ' | $7,900,000 | $8,400,000 | $14,200,000 |
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, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 19.25% | 18.50% |
Expected dividends | 1.45% | 0.00% |
Expected term (in years) | '7 years 9 months | '7 years 6 months |
Risk-free rate | 2.33% | 1.39% |
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, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares, Outstanding at beginning of year | 2,328,900 | 2,449,500 |
Shares, Granted | 114,000 | 75,000 |
Shares, Exercised | -821,400 | -129,000 |
Shares, Forfeited | 0 | -9,000 |
Shares, Outstanding at end of year | 1,621,500 | 2,386,500 |
Shares, Exercisable | 609,000 | 1,553,232 |
Weighted Average Exercise Price, Outstanding at beginning of year | $7.69 | $6.96 |
Weighted Average Exercise Price, Granted | $13.83 | $11 |
Weighted Average Exercise Price, Exercised | $5.77 | $4.81 |
Weighted Average Exercise Price, Forfeited | $0 | $6.67 |
Weighted Average Exercise Price, Outstanding at end of year | $9.10 | $7.20 |
Weighted Average Exercise Price, Exercisable | $7.17 | $5.10 |
Weighted Average Remaining Contractual Term (years), Outstanding at beginning | '5 years 6 months | '5 years 9 months 18 days |
Weighted Average Remaining Contractual Term (years), Granted | '9 years 4 months 24 days | '9 years 6 months |
Weighted Average Remaining Contractual Term (years), Exercised | '2 years 7 months 6 days | '2 years 9 months 18 days |
Weighted Average Remaining Contractual Term (years), Forfeited | '0 years | '4 years 2 months 12 days |
Weighted Average Remaining Contractual Term (years), Outstanding at ending | '6 years 1 month 6 days | '5 years 3 months 18 days |
Weighted Average Remaining Contractual Term (years), Exercisable | '4 years 8 months 12 days | '3 years 1 month 6 days |
Aggregate Intrinsic Value, Outstanding at beginning of year | $14,300 | $9,905 |
Aggregate Intrinsic Value, Granted | 1,707 | 0 |
Aggregate Intrinsic Value, Exercised | 18,920 | 1,054 |
Aggregate Intrinsic Value, Forfeited | 0 | 65 |
Aggregate Intrinsic Value, Outstanding at end of year | 31,942 | 15,828 |
Aggregate Intrinsic Value, Exercisable | $13,174 | $13,563 |
EMPLOYEE_AND_DIRECTOR_BENEFITS4
EMPLOYEE AND DIRECTOR BENEFITS (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share based compensation | $302,000 | ' | ' | $308,000 | $3,403,000 | $889,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | $2.95 | $2.68 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 1,500,000 | ' | ' | ' | 1,500,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | '1 year 7 months 6 days | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | ' | ' | ' | ' | 235,500 | ' | ' |
Non Routine Expenses | ' | 1,800,000 | 703,000 | ' | ' | ' | ' |
Rights Or Warrants Granted For Common Stock Shares Issue | ' | ' | ' | ' | ' | ' | 45,000 |
Exercise Price | ' | ' | ' | ' | ' | ' | $8.33 |
Subordinated Debt [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | ' | ' | ' | 8.25% | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share Price | $5 | ' | ' | ' | $5 | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share Price | $6.67 | ' | ' | ' | $6.67 | ' | ' |
Restricted Stock [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $990,000 | ' | ' | ' | $990,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | '1 year 3 months 18 days | ' | ' |
Plan 2005 [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Shares available for grant | 3,075,000 | ' | ' | ' | 3,075,000 | ' | ' |
Plan 2009 [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Shares available for grant | 2,775,000 | 1,500,000 | ' | ' | 2,775,000 | ' | ' |
Non Plan Stock Option [Member] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Shares available for grant | 165,000 | ' | ' | ' | 165,000 | ' | ' |
FAIR_VALUE_MEASUREMENT_Financi
FAIR VALUE MEASUREMENT (Financial Assets And Financial Liabilities Carried At Fair Value On A Recurring Basis) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $302,303 | $266,220 |
Fair Value Measurements Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value | 302,303 | 266,220 |
Fair Value Measurements Recurring [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 50,888 | 32,274 |
Fair Value Measurements Recurring [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 100,622 | 88,240 |
Fair Value Measurements Recurring [Member] | State and Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 134,746 | 129,831 |
Fair Value Measurements Recurring [Member] | Corporate Debt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 16,047 | 15,875 |
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | State and Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value | 302,303 | 266,220 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 50,888 | 32,274 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 100,622 | 88,240 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member] | State and Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 134,746 | 129,831 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member] | Corporate Debt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 16,047 | 15,875 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets at fair value | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 3 [Member] | U.S. Treasury and Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 3 [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 3 [Member] | State and Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 3 [Member] | Corporate Debt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $0 | $0 |
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, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $20,377 | $25,696 |
Other real estate owned and repossessed assets | 6,940 | 12,861 |
Total assets at fair value | 27,317 | 38,557 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value Inputs Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value Inputs Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 20,377 | 25,696 |
Other real estate owned and repossessed assets | 6,940 | 12,861 |
Total assets at fair value | $27,317 | $38,557 |
FAIR_VALUE_MEASUREMENT_Financi1
FAIR VALUE MEASUREMENT (Financial Assets And Liabilities Carried At Fair Value On Recurring Basis Or Nonrecurring Basis) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Available for sale debt securities | $302,303 | $266,220 |
Held to maturity debt securities | 30,048 | 32,274 |
Restricted equity securities | 3,418 | 3,738 |
Federal funds sold | 6,566 | 8,634 |
Mortgage loans held for sale | 9,037 | 8,134 |
Bank owned life insurance contracts | 85,639 | 69,008 |
Loans, net | 3,125,330 | 2,828,205 |
Financial Liabilities: | ' | ' |
Federal funds purchased | 178,230 | 174,380 |
Carrying Reported Amount Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale debt securities | 302,303 | 266,220 |
Held to maturity debt securities | 30,048 | 32,274 |
Restricted equity securities | 3,418 | 3,738 |
Federal funds sold | 6,566 | 8,634 |
Mortgage loans held for sale | 9,037 | 8,134 |
Bank owned life insurance contracts | 85,639 | 69,008 |
Financial Liabilities: | ' | ' |
Deposits | 3,352,766 | 3,019,642 |
Federal funds purchased | 178,230 | 174,380 |
Other borrowings | 19,965 | 19,940 |
Carrying Reported Amount Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member] | ' | ' |
Financial Assets: | ' | ' |
Loans, net | 3,125,330 | 2,828,205 |
Portion At Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 2 [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale debt securities | 302,303 | 266,220 |
Held to maturity debt securities | 30,248 | 31,315 |
Restricted equity securities | 3,418 | 3,738 |
Federal funds sold | 6,566 | 8,634 |
Mortgage loans held for sale | 9,037 | 8,134 |
Bank owned life insurance contracts | 85,639 | 69,008 |
Financial Liabilities: | ' | ' |
Deposits | 3,352,767 | 3,021,847 |
Federal funds purchased | 178,230 | 174,380 |
Other borrowings | 19,965 | 19,940 |
Portion At Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level 3 [Member] | ' | ' |
Financial Assets: | ' | ' |
Loans, net | $3,133,676 | $2,825,924 |
FAIR_VALUE_MEASUREMENT_Additio
FAIR VALUE MEASUREMENT (Additional Information) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Asset Impairment Charges | $724,000 | $2,300,000 | $4,300,000 | $8,000,000 |
Real Estate Owned, Amount of Loss at Acquisition | $225,000 | $302,000 | $757,000 | $813,000 |
SUBSEQUENT_EVENTS_Additional_I
SUBSEQUENT EVENTS (Additional Information) (Detail) (Subsequent Event [Member], USD $) | 1 Months Ended |
In Millions, except Share data, unless otherwise specified | Oct. 20, 2014 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 636,720 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $22.80 |