Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 28, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | ServisFirst Bancshares, Inc. | |
Entity Central Index Key | 1,430,723 | |
Trading Symbol | sfbs | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 52,831,896 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
ASSETS | |||
Cash and due from banks | $ 54,993 | $ 56,855 | [1] |
Interest-bearing balances due from depository institutions | 283,181 | 566,707 | [1] |
Federal funds sold | 127,390 | 160,435 | [1] |
Cash and cash equivalents | 465,564 | 783,997 | [1] |
Available for sale debt securities, at fair value | 453,956 | 422,375 | [1] |
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 72,057 | 62,564 | [1] |
Equity securities | 1,034 | 1,024 | [1] |
Mortgage loans held for sale | 6,599 | 4,675 | [1] |
Loans | 5,151,984 | 4,911,770 | [1] |
Less allowance for loan losses | (53,892) | (51,893) | [1] |
Loans, net | 5,098,092 | 4,859,877 | [1] |
Premises and equipment, net | 46,407 | 40,314 | [1] |
Accrued interest and dividends receivable | 16,051 | 15,801 | [1] |
Deferred tax assets | 26,966 | 27,132 | [1] |
Other real estate owned and repossessed assets | 5,102 | 4,988 | [1] |
Bank owned life insurance contracts | 115,112 | 114,388 | [1] |
Goodwill and other identifiable intangible assets | 14,924 | 14,996 | [1] |
Other assets | 14,301 | 18,317 | [1] |
Total assets | 6,336,165 | 6,370,448 | [1] |
Deposits: | |||
Noninterest-bearing | 1,292,440 | 1,281,605 | [1] |
Interest-bearing | 4,069,092 | 4,138,706 | [1] |
Total deposits | 5,361,532 | 5,420,311 | [1] |
Federal funds purchased | 358,241 | 355,944 | [1] |
Other borrowings | 55,169 | 55,262 | [1] |
Accrued interest payable | 4,214 | 4,401 | [1] |
Other liabilities | 11,861 | 11,641 | [1] |
Total liabilities | 5,791,017 | 5,847,559 | [1] |
Stockholders' equity: | |||
Preferred stock | |||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,812,396 shares issued and outstanding at March 31, 2017, and 52,636,896 shares issued and outstanding at December 31, 2016 | 53 | 53 | [1] |
Additional paid-in capital | 217,195 | 215,932 | [1] |
Retained earnings | 327,029 | 307,151 | [1] |
Accumulated other comprehensive income | 369 | (624) | [1] |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 544,646 | 522,512 | [1] |
Noncontrolling interest | 502 | 377 | [1] |
Total stockholders' equity | 545,148 | 522,889 | [1] |
Total liabilities and stockholders' equity | 6,336,165 | 6,370,448 | [1] |
Series A Preferred Stock [Member] | |||
Stockholders' equity: | |||
Preferred stock | |||
[1] | Derived from audited financial statements |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Held to maturity debt securities, fair value | $ 73,180 | $ 63,302 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, issued (in shares) | 52,812,396 | 52,636,896 |
Common stock. outstanding (in shares) | 52,812,396 | 52,636,896 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation preference (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred stock, authorized (in shares) | 0 | 0 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest income: | ||
Interest and fees on loans | $ 55,556 | $ 47,247 |
Taxable securities | 2,087 | 1,269 |
Nontaxable securities | 765 | 858 |
Federal funds sold | 519 | 73 |
Other interest and dividends | 590 | 514 |
Total interest income | 59,517 | 49,961 |
Interest expense: | ||
Deposits | 5,982 | 4,361 |
Borrowed funds | 1,483 | 1,421 |
Total interest expense | 7,465 | 5,782 |
Net interest income | 52,052 | 44,179 |
Provision for loan losses | 4,986 | 2,059 |
Net interest income after provision for loan losses | 47,066 | 42,120 |
Noninterest income: | ||
Service charges on deposit accounts | 1,354 | 1,307 |
Mortgage banking | 899 | 668 |
Increase in cash surrender value life insurance | 724 | 624 |
Other operating income | 1,569 | 836 |
Total noninterest income | 4,546 | 3,435 |
Salaries and employee benefits | 11,713 | 11,067 |
Equipment and occupancy expense | 2,250 | 1,985 |
Professional services | 771 | 738 |
FDIC and other regulatory assessments | 997 | 750 |
Other real estate owned expense | 76 | 449 |
Other operating expenses | 5,460 | 4,301 |
Total non-interest expenses | 21,267 | 19,290 |
Income before income taxes | 30,345 | 26,265 |
Provision for income taxes | 7,826 | 6,309 |
Net income | 22,519 | 19,956 |
Dividends on preferred stock | ||
Net income available to common stockholders | $ 22,519 | $ 19,956 |
Basic earnings per common share (in dollars per share) | $ 0.43 | $ 0.38 |
Diluted earnings per common share (in dollars per share) | $ 0.42 | $ 0.38 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 22,519 | $ 19,956 |
Other comprehensive income, net of tax: | ||
Unrealized holding gains arising during period from securities available for sale, net of tax of $534 and $984 for 2017 and 2016, respectively | 993 | 1,837 |
Comprehensive income | $ 23,512 | $ 21,793 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Unrealized holding gain (loss) from available for sale securities | $ 534 | $ 984 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total | |
Balance at Dec. 31, 2015 | $ 52 | $ 211,546 | $ 234,124 | $ 3,048 | $ 377 | $ 449,147 | ||
Common dividends declared | (2,095) | (2,095) | ||||||
Issuance of common stock upon exercise of stock options | 1,752 | 1,752 | ||||||
Stock based compensation expense | 343 | 343 | ||||||
Other comprehensive income, net of tax | 1,837 | 1,837 | ||||||
Net income | 19,956 | 19,956 | ||||||
Balance at Mar. 31, 2016 | 52 | 213,641 | 251,985 | 4,885 | 377 | 470,940 | ||
Balance at Dec. 31, 2016 | 53 | 215,932 | 307,151 | (624) | 377 | 522,889 | [1] | |
Common dividends declared | (2,641) | (2,641) | ||||||
Issuance of common stock upon exercise of stock options | 926 | 926 | ||||||
Issue 125 shares of REIT preferred stock | 125 | 125 | ||||||
Stock based compensation expense | 337 | 337 | ||||||
Other comprehensive income, net of tax | 993 | 993 | ||||||
Net income | 22,519 | 22,519 | ||||||
Balance at Mar. 31, 2017 | $ 53 | $ 217,195 | $ 327,029 | $ 369 | $ 502 | $ 545,148 | ||
[1] | Derived from audited financial statements |
Consolidated Statement of Stoc8
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Common Stock [Member] | ||
Common stock dividend, declared, per share (in dollars per share) | $ 0.05 | $ 0.04 |
Stock issued during period, shares, new issues (in shares) | 175,500 | 411,000 |
Preferred Stock [Member] | ||
Issuance of REIT Preferred (in shares) | 125 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
OPERATING ACTIVITIES | ||
Net income | $ 22,519,000 | $ 19,956,000 |
Adjustments to reconcile net income to net cash provided by | ||
Deferred tax (benefit) | (369,000) | (255,000) |
Provision for loan losses | 4,986,000 | 2,059,000 |
Depreciation | 752,000 | 730,000 |
Accretion on acquired loans | (143,000) | (290,000) |
Amortization of core deposit intangible | 72,000 | 91,000 |
Net amortization of debt securities available for sale | 1,001,000 | 634,000 |
(Increase) decrease in accrued interest and dividends receivable | (250,000) | 282,000 |
Stock-based compensation expense | 337,000 | 343,000 |
(Decrease) increase in accrued interest payable | (187,000) | 1,274,000 |
Proceeds from sale of mortgage loans held for sale | 32,501,000 | 27,918,000 |
Originations of mortgage loans held for sale | (33,526,000) | (24,091,000) |
Gain on sale of mortgage loans held for sale | (899,000) | (668,000) |
Net (gain) loss on sale of other real estate owned and repossessed assets | (36,000) | 19,000 |
Write down of other real estate owned and repossessed assets | 373,000 | |
Losses of tax credit partnerships | (22,000) | 38,000 |
Increase in cash surrender value of life insurance contracts | (724,000) | (624,000) |
Net change in other assets, liabilities, and other operating activities | 3,202,000 | (515,000) |
Net cash provided by operating activities | 29,214,000 | 27,274,000 |
INVESTMENT ACTIVITIES | ||
Purchase of securities available for sale | (53,885,000) | (10,069,000) |
Proceeds from maturities, calls and paydowns of securities available for sale | 23,357,000 | 21,119,000 |
Purchase of securities held to maturity | (9,786,000) | (439,000) |
Proceeds from maturities, calls and paydowns of securities held to maturity | 293,000 | 326,000 |
Purchase of equity securities | (10,000) | (708,000) |
Increase in loans | (243,562,000) | (124,622,000) |
Purchase of premises and equipment | (6,844,000) | (2,285,000) |
Expenditures to complete construction of other real estate owned | (3,000) | |
Proceeds from sale of other real estate owned and repossessed assets | 426,000 | 1,013,000 |
Net cash used in investing activities | (290,011,000) | (115,668,000) |
FINANCING ACTIVITIES | ||
Net increase in non-interest-bearing deposits | 10,835,000 | 16,808,000 |
Net (decrease) increase in interest-bearing deposits | (69,614,000) | 99,051,000 |
Net increase in federal funds purchased | 2,297,000 | 145,525,000 |
Repayment of Federal Home Loan Bank advances | (100,000) | (100,000) |
Proceeds from sale of preferred stock, net | 125,000 | |
Proceeds from exercise of stock options | 926,000 | 1,752,000 |
Dividends paid on common stock | (2,105,000) | (1,240,000) |
Net cash provided by financing activities | (57,636,000) | 261,796,000 |
Net (decrease) increase in cash and cash equivalents | (318,433,000) | 173,402,000 |
Cash and cash equivalents at beginning of period | 783,997,000 | 352,235,000 |
Cash and cash equivalents at end of period | 465,564,000 | 525,637,000 |
Cash paid for: | ||
Interest | 7,652,000 | 4,508,000 |
Income taxes | 652,000 | 674,000 |
Income tax refund | (181,000) | (867,000) |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 553,000 | 1,076,000 |
Internally financed sales of other real estate owned | 49,000 | 1,022,000 |
Dividends declared | $ 2,641,000 | $ 2,095,000 |
Note 1 - General
Note 1 - General | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 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 may 10 December 31, 2016. On December 20, 2016, two one 10 All reported amounts are in thousands except share and per share data. |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 2 Cash on hand, cash items in process of collection, amounts due from banks, and federal funds sold are included in cash and cash equivalents. |
Note 3 - Earnings Per Common Sh
Note 3 - Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income 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. All reported amounts in this Form 10 2 1 Three Months Ended March 31, 2017 2016 (In Thousands, Except Shares and Per Earnings per common share Weighted average common shares outstanding 52,745,335 52,194,726 Net income available to common stockholders $ 22,519 $ 19,956 Basic earnings per common share $ 0.43 $ 0.38 Weighted average common shares outstanding 52,745,335 52,194,726 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,388,387 938,894 Weighted average common and dilutive potential common shares outstanding 54,133,722 53,133,620 Net income available to common stockholders $ 22,519 $ 19,956 Diluted earnings per common share $ 0.42 $ 0.38 |
Note 4 - Securities
Note 4 - Securities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2017 December 31, 2016 Amortized Gross Gross Fair Value March 31, 2017 (In Thousands) Available for sale debt securities U.S. Treasury and government sponsored agencies $ 57,732 $ 408 $ (106 ) $ 58,034 Mortgage-backed securities 254,225 1,315 (2,155 ) 253,385 State and municipal securities 136,431 1,372 (268 ) 137,535 Corporate debt 4,996 6 - 5,002 Total $ 453,384 $ 3,101 $ (2,529 ) $ 453,956 Held to maturity debt securities Mortgage-backed securities $ 28,658 $ 312 $ (269 ) $ 28,701 State and municipal securities 5,889 308 (6 ) 6,191 Corporate debt 37,510 794 (16 ) 38,288 Total $ 72,057 $ 1,414 $ (291 ) $ 73,180 December 31, 2016 Available for sale debt securities U.S. Treasury and government sponsored agencies $ 45,998 $ 382 $ (126 ) $ 46,254 Mortgage-backed securities 228,843 1,515 (3,168 ) 227,190 State and municipal securities 139,504 1,120 (694 ) 139,930 Corporate debt 8,985 16 - 9,001 Total $ 423,330 $ 3,033 $ (3,988 ) $ 422,375 Held to maturity debt securities Mortgage-backed securities $ 19,164 $ 321 $ (245 ) $ 19,240 State and municipal securities 5,888 315 (12 ) 6,191 Corporate debt 37,512 374 (15 ) 37,871 Total $ 62,564 $ 1,010 $ (272 ) $ 63,302 The amortized cost and fair value of debt securities as of March 31, 2017 may may March 31, 2017 December 31, 2016 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Available for sale debt securities Due within one year $ 19,508 $ 19,587 $ 28,270 $ 28,400 Due from one to five years 154,295 155,590 152,347 153,003 Due from five to ten years 25,356 25,394 13,870 13,782 Mortgage-backed securities 254,225 253,385 228,843 227,190 $ 453,384 $ 453,956 $ 423,330 $ 422,375 Held to maturity debt securities Due from one to five years $ 250 $ 250 $ 250 $ 250 Due from five to ten years 34,248 34,879 34,251 34,617 Due after ten years 8,901 9,350 8,899 9,195 Mortgage-backed securities 28,658 28,701 19,164 19,240 $ 72,057 $ 73,180 $ 62,564 $ 63,302 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 March 31, 2017 December 31, 2016, 12 12 March 31, 2017, seven 802 12 may March 31, 2017. 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) March 31, 2017: U.S. Treasury and government sponsored agencies $ (106 ) $ 7,902 $ - $ - $ (106 ) $ 7,902 Mortgage-backed securities (2,424 ) 188,130 - - (2,424 ) 188,130 State and municipal securities (263 ) 36,644 (11 ) 1,412 (274 ) 38,056 Corporate debt (16 ) 3,030 - - (16 ) 3,030 Total $ (2,809 ) $ 235,706 $ (11 ) $ 1,412 $ (2,820 ) $ 237,118 December 31, 2016: U.S. Treasury and government sponsored agencies $ (126 ) $ 10,865 $ - $ - $ (126 ) $ 10,865 Mortgage-backed securities (3,413 ) 174,225 - - (3,413 ) 174,225 State and municipal securities (698 ) 64,502 (8 ) 1,021 (706 ) 65,523 Corporate debt (15 ) 3,034 - - (15 ) 3,034 Total $ (4,252 ) $ 252,626 $ (8 ) $ 1,021 $ (4,260 ) $ 253,647 |
Note 5 - Loans
Note 5 - Loans | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 The following table details the Company’s loans at March 31, 2017 December 31, 2016: March 31, December 31, 2017 2016 (Dollars In Thousands) Commercial, financial and agricultural $ 2,061,503 $ 1,982,267 Real estate - construction 345,777 335,085 Real estate - mortgage: Owner-occupied commercial 1,262,578 1,171,719 1-4 family mortgage 554,261 536,805 Other mortgage 872,955 830,683 Subtotal: Real estate - mortgage 2,689,794 2,539,207 Consumer 54,910 55,211 Total Loans 5,151,984 4,911,770 Less: Allowance for loan losses (53,892 ) (51,893 ) Net Loans $ 5,098,092 $ 4,859,877 Commercial, financial and agricultural 40.01 % 40.36 % Real estate - construction 6.71 % 6.82 % Real estate - mortgage: Owner-occupied commercial 24.51 % 23.86 % 1-4 family mortgage 10.76 % 10.93 % Other mortgage 16.94 % 16.91 % Subtotal: Real estate - mortgage 52.21 % 51.70 % Consumer 1.07 % 1.12 % Total Loans 100.00 % 100.00 % 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(s) or by the fair value, less cost to acquire and sell, of any underlying collateral. · Special Mention – loans with potential weakness that may, · Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies 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 March 31, 2017 December 31, 2016 Special March 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,989,337 $ 48,280 $ 23,886 $ - $ 2,061,503 Real estate - construction 334,480 7,639 3,658 - 345,777 Real estate - mortgage: Owner-occupied commercial 1,248,552 6,126 7,900 - 1,262,578 1-4 family mortgage 549,371 1,161 3,729 - 554,261 Other mortgage 857,553 14,573 829 - 872,955 Total real estate - mortgage 2,655,476 21,860 12,458 - 2,689,794 Consumer 54,823 87 - - 54,910 Total $ 5,034,116 $ 77,866 $ 40,002 $ - $ 5,151,984 Special December 31, 2016 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,893,664 $ 61,035 $ 27,568 $ - $ 1,982,267 Real estate - construction 324,958 5,861 4,266 - 335,085 Real estate - mortgage: Owner-occupied commercial 1,158,615 6,037 7,067 - 1,171,719 1-4 family mortgage 531,868 2,065 2,872 - 536,805 Other mortgage 818,724 11,224 735 - 830,683 Total real estate - mortgage 2,509,207 19,326 10,674 - 2,539,207 Consumer 55,135 76 - - 55,211 Total $ 4,782,964 $ 86,298 $ 42,508 $ - $ 4,911,770 Loans by performance status as of March 31, 2017 December 31, 2016 March 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,054,524 $ 6,979 $ 2,061,503 Real estate - construction 343,116 2,661 345,777 Real estate - mortgage: Owner-occupied commercial 1,261,205 1,373 1,262,578 1-4 family mortgage 553,190 1,071 554,261 Other mortgage 872,955 - 872,955 Total real estate - mortgage 2,687,350 2,444 2,689,794 Consumer 54,894 16 54,910 Total $ 5,139,884 $ 12,100 $ 5,151,984 December 31, 2016 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 1,974,975 $ 7,292 $ 1,982,267 Real estate - construction 331,817 3,268 335,085 Real estate - mortgage: Owner-occupied commercial 1,165,511 6,208 1,171,719 1-4 family mortgage 536,731 74 536,805 Other mortgage 830,683 - 830,683 Total real estate - mortgage 2,532,925 6,282 2,539,207 Consumer 55,166 45 55,211 Total $ 4,894,883 $ 16,887 $ 4,911,770 Loans by past due status as of March 31, 2017 December 31, 2016 March 31, 2017 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 $ 1,023 $ 8 $ - $ 1,031 $ 6,979 $ 2,053,493 $ 2,061,503 Real estate - construction 363 - - 363 2,661 342,753 345,777 Real estate - mortgage: Owner-occupied commercial 1,001 - - 1,001 1,373 1,260,204 1,262,578 1-4 family mortgage 215 45 - 260 1,071 552,930 554,261 Other mortgage 2,950 - - 2,950 - 870,005 872,955 Total real estate - mortgage 4,166 45 - 4,211 2,444 2,683,139 2,689,794 Consumer 29 30 16 75 - 54,835 54,910 Total $ 5,581 $ 83 $ 16 $ 5,680 $ 12,084 $ 5,134,220 $ 5,151,984 December 31, 2016 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 $ 710 $ 40 $ 10 $ 760 $ 7,282 $ 1,974,225 $ 1,982,267 Real estate - construction 59 - - 59 3,268 331,758 335,085 Real estate - mortgage: Owner-occupied commercial - - 6,208 6,208 - 1,165,511 1,171,719 1-4 family mortgage 160 129 - 289 74 536,442 536,805 Other mortgage 95 811 - 906 - 829,777 830,683 Total real estate - mortgage 255 940 6,208 7,403 74 2,531,730 2,539,207 Consumer 52 17 45 114 - 55,097 55,211 Total $ 1,076 $ 997 $ 6,263 $ 8,336 $ 10,624 $ 4,892,810 $ 4,911,770 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 The methodology utilized for the calculation of the allowance for loan losses is divided into four 450), 310), Non-Impaired Loans. second five Impaired Loans. may may External Qualitative Factors three Internal Qualitative Factors The following table presents an analysis of the allowance for loan losses by portfolio segment and changes in the allowance for loan losses for the three March 31, 2017 March 31, 2016. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (2,855 ) - (266 ) (75 ) (3,196 ) Recoveries 190 16 2 1 209 Provision 2,500 (316 ) 2,722 80 4,986 Balance at March 31, 2017 $ 28,707 $ 4,825 $ 19,962 $ 398 $ 53,892 Three Months Ended March 31, 2016 Allowance for loan losses: Balance at December 31, 2015 $ 21,495 $ 5,432 $ 16,061 $ 431 $ 43,419 Charge-offs (50 ) (381 ) - (18 ) (449 ) Recoveries 3 16 97 - 116 Provision 1,391 (62 ) 743 (13 ) 2,059 Balance at March 31, 2016 $ 22,839 $ 5,005 $ 16,901 $ 400 $ 45,145 As of March 31, 2017 Allowance for loan losses: Individually Evaluated for Impairment $ 5,297 $ 921 $ 1,814 $ - $ 8,032 Collectively Evaluated for Impairment 23,410 3,904 18,148 398 45,860 Loans: Ending Balance $ 2,061,503 $ 345,777 $ 2,689,794 $ 54,910 $ 5,151,984 Individually Evaluated for Impairment 24,230 3,705 15,084 2 43,021 Collectively Evaluated for Impairment 2,037,273 342,072 2,674,710 54,908 5,108,963 As of December 31, 2016 Allowance for loan losses: Individually Evaluated for Impairment $ 6,607 $ 923 $ 622 $ - $ 8,152 Collectively Evaluated for Impairment 22,265 4,202 16,882 392 43,741 Loans: Ending Balance $ 1,982,267 $ 335,085 $ 2,539,207 $ 55,211 $ 4,911,770 Individually Evaluated for Impairment 27,922 4,314 13,350 3 45,589 Collectively Evaluated for Impairment 1,954,345 330,771 2,525,857 55,208 4,866,181 The following table presents details of the Company’s impaired loans as of March 31, 2017 December 31, 2016, March 31, 2017 For the three months ended March 31, 2017 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,001 $ 1,001 $ - $ 1,007 $ 16 Real estate - construction 330 333 - 333 1 Real estate - mortgage: Owner-occupied commercial 2,561 2,725 - 2,750 40 1-4 family mortgage 2,758 2,758 - 2,831 22 Other mortgage 924 924 - 931 14 Total real estate - mortgage 6,243 6,407 - 6,512 76 Consumer 2 4 - 4 - Total with no allowance recorded 7,576 7,745 - 7,856 93 With an allowance recorded: Commercial, financial and agricultural 23,229 23,229 5,297 23,063 228 Real estate - construction 3,375 3,375 921 3,374 14 Real estate - mortgage: Owner-occupied commercial 7,774 7,774 1,445 7,317 79 1-4 family mortgage 971 971 273 972 12 Other mortgage 96 96 96 287 4 Total real estate - mortgage 8,841 8,841 1,814 8,576 95 Consumer - - - - - Total with allowance recorded 35,445 35,445 8,032 35,013 337 Total Impaired Loans: Commercial, financial and agricultural 24,230 24,230 5,297 24,070 244 Real estate - construction 3,705 3,708 921 3,707 15 Real estate - mortgage: Owner-occupied commercial 10,335 10,499 1,445 10,067 119 1-4 family mortgage 3,729 3,729 273 3,803 34 Other mortgage 1,020 1,020 96 1,218 18 Total real estate - mortgage 15,084 15,248 1,814 15,088 171 Consumer 2 4 - 4 - Total impaired loans $ 43,021 $ 43,190 $ 8,032 $ 42,869 $ 430 December 31, 2016 For the twelve months ended December 31, 2016 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,003 $ 1,003 $ - $ 992 $ 64 Real estate - construction 938 1,802 - 1,159 3 Real estate - mortgage: Owner-occupied commercial 2,615 2,778 - 2,884 166 1-4 family mortgage 1,899 1,899 - 1,901 102 Other mortgage 940 940 - 965 60 Total real estate - mortgage 5,454 5,617 - 5,750 328 Consumer 3 5 - 6 - Total with no allowance recorded 7,398 8,427 - 7,907 395 With an allowance recorded: Commercial, financial and agricultural 26,919 31,728 6,607 26,955 1,162 Real estate - construction 3,376 3,376 923 3,577 68 Real estate - mortgage: Owner-occupied commercial 6,924 6,924 348 6,934 362 1-4 family mortgage 972 972 274 313 19 Other mortgage - - - - - Total real estate - mortgage 7,896 7,896 622 7,247 381 Consumer - - - - - Total with allowance recorded 38,191 43,000 8,152 37,779 1,611 Total Impaired Loans: Commercial, financial and agricultural 27,922 32,731 6,607 27,947 1,226 Real estate - construction 4,314 5,178 923 4,736 71 Real estate - mortgage: Owner-occupied commercial 9,539 9,702 348 9,818 528 1-4 family mortgage 2,871 2,871 274 2,214 121 Other mortgage 940 940 - 965 60 Total real estate - mortgage 13,350 13,513 622 12,997 709 Consumer 3 5 - 6 - Total impaired loans $ 45,589 $ 51,427 $ 8,152 $ 45,686 $ 2,006 Troubled Debt Restructurings (“TDR”) at March 31, 2017, December 31, 2016 March 31, 2016 $7.3 $7.3 $6.8 March 31, 2017, $2.3 $2.3 December 31, 2016 $0.9 March 31, 2016. three March 31, 2017 2016. No twelve twelve three March 31, 2017 2016. 90 |
Note 6 - Employee and Director
Note 6 - Employee and Director Benefits | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 6 Stock Options At March 31, 2017, $337,000 $343,000 three March 31, 2017 2016, The Company’s 2005 6,150,000 2009 5,550,000 ten The Company estimates the fair value of each stock option award using a Black-Scholes-Merton valuation model which incorporates 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. 2017 2016 Expected volatility 29.00 % 29.00 % Expected dividends 0.43 % 0.60 % Expected term (in years) 6 6 Risk-free rate 2.08 % 1.92 % The weighted average grant-date fair value of options granted during the three March 31, 2017 March 31, 2016 $11.91 $5.77, The following table summarizes stock option activity during the three March 31, 2017 March 31, 2016: Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2017: Outstanding at January 1, 2017 2,026,334 $ 9.00 6.2 $ 57,636 Granted 51,500 38.10 9.8 (89 ) Exercised (175,500 ) 5.28 5.0 5,459 Forfeited (27,000 ) 21.55 8.8 401 Outstanding at March 31, 2017 1,875,334 9.96 6.2 $ 49,540 Exercisable at March 31, 2017 928,236 $ 5.12 4.6 $ 29,013 Three Months Ended March 31, 2016: Outstanding at January 1, 2016 2,498,834 $ 6.66 6.3 $ 42,743 Granted 198,000 19.11 9.8 - Exercised (411,000 ) 4.27 4.6 7,372 Forfeited (9,000 ) 19.52 9.3 24 Outstanding at March 31, 2016 2,276,834 8.12 6.7 $ 32,058 Exercisable at March 31, 2016 782,836 $ 4.74 5.2 $ 13,672 As of March 31, 2017, $2,539,000 3.1 Restricted Stock The Company has issued 483,276 364,500 March 31, 2017, $448,000 1.5 |
Note 7 - Derivatives
Note 7 - Derivatives | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 7 The Company has entered into agreements with secondary 30 March 31, 2017 December 31, 2016 |
Note 8 - Recently Adopted Accou
Note 8 - Recently Adopted Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 8 In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718): 2016 09”), 2016 09 December 15, 2016, second 2016, first 2016. $2.3 first 2016, $4.8 December 31, 2016 $2.1 first 2017, 2016 09, In January 2017, 2017 03, Accounting Changes and Error Corrections 250) Investments – Equity Method and Joint Ventures 323) – Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 November 17, 2016 2017 03 250 10 S99 6 11.M). |
Note 9 - Recent Accounting Pron
Note 9 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | NOTE 9 In May 2014, 2014 09, Revenue From Contracts With Customers 606). 605, 606, August 2015, 2015 14, Revenue From Contracts With Customers (Topic 606): 2014 09, Revenue From Contracts With Customers (Topic 606) one December 15, 2017. December 15, 2016. In January 2016, 2016 1, Financial Instruments Overall (Topic 825): 2016 1: December 15, 2017, In February 2016, 2016 02, Leases (Topic 842) December 15, 2018. In March 2016, 2016 07 , Investments – Equity Method and Joint Ventures (Topic 323), December 15, 2016. In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326): December 15, 2019, December 15, 2018. In August 2016, 2016 15, Statement of Cash Flows (Topic 230): eight 1) 2) zero 3) 4) 5) 6) 7) 8) December 31, 2017, December 15, 2018, December 15, 2019. In January 2017, 2017 01, Business Combinations (Topic 805): 2017 01 December 15, 2017, In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350): second 2017 04 December 15, 2019, January 1, 2017. In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20), 2017 08 December 15, 2018. |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 10 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 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 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 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. 1 1 secondary may 2 1 2 3 Impaired Loans 820 10 3 $2,978,000 three March 31, 2017, $911,000 three March 31, 2016. Other Real Estate Owned 3 $30,000 $392,000 three March 31, 2017 March 31, 2016, 3 There were no March 31, 2017, $189,000 December 31, 2016. Two residential real estate loans totaling $77,000 March 31, 2017. No December 31, 2016. The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of March 31, 2017 December 31, 2016: Fair Value Measurements at March 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury and government sponsored agencies $ - $ 58,034 $ - $ 58,034 Mortgage-backed securities - 253,385 - 253,385 State and municipal securities - 137,535 - 137,535 Corporate debt - 5,002 - 5,002 Total assets at fair value $ - $ 453,956 $ - $ 453,956 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury and government sponsored agencies $ - $ 46,254 $ - $ 46,254 Mortgage-backed securities - 227,190 - 227,190 State and municipal securities - 139,930 - 139,930 Corporate debt - 9,001 - 9,001 Total assets at fair value $ - $ 422,375 $ - $ 422,375 The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of March 31, 2017 December 31, 2016: Fair Value Measurements at March 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 34,989 $ 34,989 Other real estate owned and repossessed assets - - 5,102 5,102 Total assets at fair value $ - $ - $ 40,091 $ 40,091 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 37,437 $ 37,437 Other real estate owned - - 4,988 4,988 Total assets at fair value $ - $ - $ 42,425 $ 42,425 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 may The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Cash and Due from banks: Debt securities: 1 1 secondary may 2 1 2 3 Equity securities: Federal funds sold: Mortgage loans held for sale: 30 Bank owned life insurance contracts: Loans, net: 820 3 Deposits: may 2 Federal funds purchased: Other borrowings: 2 Loan commitments: The carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and due from banks $ 338,174 $ 338,174 $ 623,562 $ 623,562 Level 2 inputs: Available for sale debt securities $ 453,956 $ 453,956 $ 422,375 $ 422,375 Held to maturity debt securities 34,547 34,892 25,052 25,431 Equity securities 1,034 1,034 1,024 1,024 Federal funds sold 127,390 127,390 160,435 160,435 Mortgage loans held for sale 6,599 6,718 4,675 4,736 Bank owned life insurance contracts 115,112 115,112 114,388 114,388 Level 3 Inputs: Held to maturity debt securities $ 37,510 $ 38,288 $ 37,512 $ 37,871 Loans, net 5,098,092 5,111,532 4,859,877 4,872,689 Financial Liabilities: Level 2 inputs: Deposits $ 5,361,532 $ 5,358,573 $ 5,420,311 $ 5,417,320 Federal funds purchased 358,241 358,241 355,944 355,944 Other borrowings 55,169 54,234 55,262 54,203 |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11 The Company has evaluated all subsequent events through the date of this filing to ensure that this Form 10 March 31, 2017, March 31, 2017 |
Note 3 - Earnings Per Common 21
Note 3 - Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2017 2016 (In Thousands, Except Shares and Per Earnings per common share Weighted average common shares outstanding 52,745,335 52,194,726 Net income available to common stockholders $ 22,519 $ 19,956 Basic earnings per common share $ 0.43 $ 0.38 Weighted average common shares outstanding 52,745,335 52,194,726 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,388,387 938,894 Weighted average common and dilutive potential common shares outstanding 54,133,722 53,133,620 Net income available to common stockholders $ 22,519 $ 19,956 Diluted earnings per common share $ 0.42 $ 0.38 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Amortized Gross Gross Fair Value March 31, 2017 (In Thousands) Available for sale debt securities U.S. Treasury and government sponsored agencies $ 57,732 $ 408 $ (106 ) $ 58,034 Mortgage-backed securities 254,225 1,315 (2,155 ) 253,385 State and municipal securities 136,431 1,372 (268 ) 137,535 Corporate debt 4,996 6 - 5,002 Total $ 453,384 $ 3,101 $ (2,529 ) $ 453,956 Held to maturity debt securities Mortgage-backed securities $ 28,658 $ 312 $ (269 ) $ 28,701 State and municipal securities 5,889 308 (6 ) 6,191 Corporate debt 37,510 794 (16 ) 38,288 Total $ 72,057 $ 1,414 $ (291 ) $ 73,180 December 31, 2016 Available for sale debt securities U.S. Treasury and government sponsored agencies $ 45,998 $ 382 $ (126 ) $ 46,254 Mortgage-backed securities 228,843 1,515 (3,168 ) 227,190 State and municipal securities 139,504 1,120 (694 ) 139,930 Corporate debt 8,985 16 - 9,001 Total $ 423,330 $ 3,033 $ (3,988 ) $ 422,375 Held to maturity debt securities Mortgage-backed securities $ 19,164 $ 321 $ (245 ) $ 19,240 State and municipal securities 5,888 315 (12 ) 6,191 Corporate debt 37,512 374 (15 ) 37,871 Total $ 62,564 $ 1,010 $ (272 ) $ 63,302 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2017 December 31, 2016 Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Available for sale debt securities Due within one year $ 19,508 $ 19,587 $ 28,270 $ 28,400 Due from one to five years 154,295 155,590 152,347 153,003 Due from five to ten years 25,356 25,394 13,870 13,782 Mortgage-backed securities 254,225 253,385 228,843 227,190 $ 453,384 $ 453,956 $ 423,330 $ 422,375 Held to maturity debt securities Due from one to five years $ 250 $ 250 $ 250 $ 250 Due from five to ten years 34,248 34,879 34,251 34,617 Due after ten years 8,901 9,350 8,899 9,195 Mortgage-backed securities 28,658 28,701 19,164 19,240 $ 72,057 $ 73,180 $ 62,564 $ 63,302 |
Gain (Loss) on Investments [Table Text Block] | 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) March 31, 2017: U.S. Treasury and government sponsored agencies $ (106 ) $ 7,902 $ - $ - $ (106 ) $ 7,902 Mortgage-backed securities (2,424 ) 188,130 - - (2,424 ) 188,130 State and municipal securities (263 ) 36,644 (11 ) 1,412 (274 ) 38,056 Corporate debt (16 ) 3,030 - - (16 ) 3,030 Total $ (2,809 ) $ 235,706 $ (11 ) $ 1,412 $ (2,820 ) $ 237,118 December 31, 2016: U.S. Treasury and government sponsored agencies $ (126 ) $ 10,865 $ - $ - $ (126 ) $ 10,865 Mortgage-backed securities (3,413 ) 174,225 - - (3,413 ) 174,225 State and municipal securities (698 ) 64,502 (8 ) 1,021 (706 ) 65,523 Corporate debt (15 ) 3,034 - - (15 ) 3,034 Total $ (4,252 ) $ 252,626 $ (8 ) $ 1,021 $ (4,260 ) $ 253,647 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, December 31, 2017 2016 (Dollars In Thousands) Commercial, financial and agricultural $ 2,061,503 $ 1,982,267 Real estate - construction 345,777 335,085 Real estate - mortgage: Owner-occupied commercial 1,262,578 1,171,719 1-4 family mortgage 554,261 536,805 Other mortgage 872,955 830,683 Subtotal: Real estate - mortgage 2,689,794 2,539,207 Consumer 54,910 55,211 Total Loans 5,151,984 4,911,770 Less: Allowance for loan losses (53,892 ) (51,893 ) Net Loans $ 5,098,092 $ 4,859,877 Commercial, financial and agricultural 40.01 % 40.36 % Real estate - construction 6.71 % 6.82 % Real estate - mortgage: Owner-occupied commercial 24.51 % 23.86 % 1-4 family mortgage 10.76 % 10.93 % Other mortgage 16.94 % 16.91 % Subtotal: Real estate - mortgage 52.21 % 51.70 % Consumer 1.07 % 1.12 % Total Loans 100.00 % 100.00 % |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special March 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,989,337 $ 48,280 $ 23,886 $ - $ 2,061,503 Real estate - construction 334,480 7,639 3,658 - 345,777 Real estate - mortgage: Owner-occupied commercial 1,248,552 6,126 7,900 - 1,262,578 1-4 family mortgage 549,371 1,161 3,729 - 554,261 Other mortgage 857,553 14,573 829 - 872,955 Total real estate - mortgage 2,655,476 21,860 12,458 - 2,689,794 Consumer 54,823 87 - - 54,910 Total $ 5,034,116 $ 77,866 $ 40,002 $ - $ 5,151,984 Special December 31, 2016 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,893,664 $ 61,035 $ 27,568 $ - $ 1,982,267 Real estate - construction 324,958 5,861 4,266 - 335,085 Real estate - mortgage: Owner-occupied commercial 1,158,615 6,037 7,067 - 1,171,719 1-4 family mortgage 531,868 2,065 2,872 - 536,805 Other mortgage 818,724 11,224 735 - 830,683 Total real estate - mortgage 2,509,207 19,326 10,674 - 2,539,207 Consumer 55,135 76 - - 55,211 Total $ 4,782,964 $ 86,298 $ 42,508 $ - $ 4,911,770 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | March 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,054,524 $ 6,979 $ 2,061,503 Real estate - construction 343,116 2,661 345,777 Real estate - mortgage: Owner-occupied commercial 1,261,205 1,373 1,262,578 1-4 family mortgage 553,190 1,071 554,261 Other mortgage 872,955 - 872,955 Total real estate - mortgage 2,687,350 2,444 2,689,794 Consumer 54,894 16 54,910 Total $ 5,139,884 $ 12,100 $ 5,151,984 December 31, 2016 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 1,974,975 $ 7,292 $ 1,982,267 Real estate - construction 331,817 3,268 335,085 Real estate - mortgage: Owner-occupied commercial 1,165,511 6,208 1,171,719 1-4 family mortgage 536,731 74 536,805 Other mortgage 830,683 - 830,683 Total real estate - mortgage 2,532,925 6,282 2,539,207 Consumer 55,166 45 55,211 Total $ 4,894,883 $ 16,887 $ 4,911,770 |
Past Due Financing Receivables [Table Text Block] | March 31, 2017 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 $ 1,023 $ 8 $ - $ 1,031 $ 6,979 $ 2,053,493 $ 2,061,503 Real estate - construction 363 - - 363 2,661 342,753 345,777 Real estate - mortgage: Owner-occupied commercial 1,001 - - 1,001 1,373 1,260,204 1,262,578 1-4 family mortgage 215 45 - 260 1,071 552,930 554,261 Other mortgage 2,950 - - 2,950 - 870,005 872,955 Total real estate - mortgage 4,166 45 - 4,211 2,444 2,683,139 2,689,794 Consumer 29 30 16 75 - 54,835 54,910 Total $ 5,581 $ 83 $ 16 $ 5,680 $ 12,084 $ 5,134,220 $ 5,151,984 December 31, 2016 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 $ 710 $ 40 $ 10 $ 760 $ 7,282 $ 1,974,225 $ 1,982,267 Real estate - construction 59 - - 59 3,268 331,758 335,085 Real estate - mortgage: Owner-occupied commercial - - 6,208 6,208 - 1,165,511 1,171,719 1-4 family mortgage 160 129 - 289 74 536,442 536,805 Other mortgage 95 811 - 906 - 829,777 830,683 Total real estate - mortgage 255 940 6,208 7,403 74 2,531,730 2,539,207 Consumer 52 17 45 114 - 55,097 55,211 Total $ 1,076 $ 997 $ 6,263 $ 8,336 $ 10,624 $ 4,892,810 $ 4,911,770 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (2,855 ) - (266 ) (75 ) (3,196 ) Recoveries 190 16 2 1 209 Provision 2,500 (316 ) 2,722 80 4,986 Balance at March 31, 2017 $ 28,707 $ 4,825 $ 19,962 $ 398 $ 53,892 Three Months Ended March 31, 2016 Allowance for loan losses: Balance at December 31, 2015 $ 21,495 $ 5,432 $ 16,061 $ 431 $ 43,419 Charge-offs (50 ) (381 ) - (18 ) (449 ) Recoveries 3 16 97 - 116 Provision 1,391 (62 ) 743 (13 ) 2,059 Balance at March 31, 2016 $ 22,839 $ 5,005 $ 16,901 $ 400 $ 45,145 As of March 31, 2017 Allowance for loan losses: Individually Evaluated for Impairment $ 5,297 $ 921 $ 1,814 $ - $ 8,032 Collectively Evaluated for Impairment 23,410 3,904 18,148 398 45,860 Loans: Ending Balance $ 2,061,503 $ 345,777 $ 2,689,794 $ 54,910 $ 5,151,984 Individually Evaluated for Impairment 24,230 3,705 15,084 2 43,021 Collectively Evaluated for Impairment 2,037,273 342,072 2,674,710 54,908 5,108,963 As of December 31, 2016 Allowance for loan losses: Individually Evaluated for Impairment $ 6,607 $ 923 $ 622 $ - $ 8,152 Collectively Evaluated for Impairment 22,265 4,202 16,882 392 43,741 Loans: Ending Balance $ 1,982,267 $ 335,085 $ 2,539,207 $ 55,211 $ 4,911,770 Individually Evaluated for Impairment 27,922 4,314 13,350 3 45,589 Collectively Evaluated for Impairment 1,954,345 330,771 2,525,857 55,208 4,866,181 |
Impaired Financing Receivables [Table Text Block] | March 31, 2017 For the three months ended March 31, 2017 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,001 $ 1,001 $ - $ 1,007 $ 16 Real estate - construction 330 333 - 333 1 Real estate - mortgage: Owner-occupied commercial 2,561 2,725 - 2,750 40 1-4 family mortgage 2,758 2,758 - 2,831 22 Other mortgage 924 924 - 931 14 Total real estate - mortgage 6,243 6,407 - 6,512 76 Consumer 2 4 - 4 - Total with no allowance recorded 7,576 7,745 - 7,856 93 With an allowance recorded: Commercial, financial and agricultural 23,229 23,229 5,297 23,063 228 Real estate - construction 3,375 3,375 921 3,374 14 Real estate - mortgage: Owner-occupied commercial 7,774 7,774 1,445 7,317 79 1-4 family mortgage 971 971 273 972 12 Other mortgage 96 96 96 287 4 Total real estate - mortgage 8,841 8,841 1,814 8,576 95 Consumer - - - - - Total with allowance recorded 35,445 35,445 8,032 35,013 337 Total Impaired Loans: Commercial, financial and agricultural 24,230 24,230 5,297 24,070 244 Real estate - construction 3,705 3,708 921 3,707 15 Real estate - mortgage: Owner-occupied commercial 10,335 10,499 1,445 10,067 119 1-4 family mortgage 3,729 3,729 273 3,803 34 Other mortgage 1,020 1,020 96 1,218 18 Total real estate - mortgage 15,084 15,248 1,814 15,088 171 Consumer 2 4 - 4 - Total impaired loans $ 43,021 $ 43,190 $ 8,032 $ 42,869 $ 430 December 31, 2016 For the twelve months ended December 31, 2016 Interest Unpaid Average Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,003 $ 1,003 $ - $ 992 $ 64 Real estate - construction 938 1,802 - 1,159 3 Real estate - mortgage: Owner-occupied commercial 2,615 2,778 - 2,884 166 1-4 family mortgage 1,899 1,899 - 1,901 102 Other mortgage 940 940 - 965 60 Total real estate - mortgage 5,454 5,617 - 5,750 328 Consumer 3 5 - 6 - Total with no allowance recorded 7,398 8,427 - 7,907 395 With an allowance recorded: Commercial, financial and agricultural 26,919 31,728 6,607 26,955 1,162 Real estate - construction 3,376 3,376 923 3,577 68 Real estate - mortgage: Owner-occupied commercial 6,924 6,924 348 6,934 362 1-4 family mortgage 972 972 274 313 19 Other mortgage - - - - - Total real estate - mortgage 7,896 7,896 622 7,247 381 Consumer - - - - - Total with allowance recorded 38,191 43,000 8,152 37,779 1,611 Total Impaired Loans: Commercial, financial and agricultural 27,922 32,731 6,607 27,947 1,226 Real estate - construction 4,314 5,178 923 4,736 71 Real estate - mortgage: Owner-occupied commercial 9,539 9,702 348 9,818 528 1-4 family mortgage 2,871 2,871 274 2,214 121 Other mortgage 940 940 - 965 60 Total real estate - mortgage 13,350 13,513 622 12,997 709 Consumer 3 5 - 6 - Total impaired loans $ 45,589 $ 51,427 $ 8,152 $ 45,686 $ 2,006 |
Note 6 - Employee and Directo24
Note 6 - Employee and Director Benefits (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 Expected volatility 29.00 % 29.00 % Expected dividends 0.43 % 0.60 % Expected term (in years) 6 6 Risk-free rate 2.08 % 1.92 % |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Exercise Contractual Aggregate Shares Price Term (years) Intrinsic Value (In Thousands) Three Months Ended March 31, 2017: Outstanding at January 1, 2017 2,026,334 $ 9.00 6.2 $ 57,636 Granted 51,500 38.10 9.8 (89 ) Exercised (175,500 ) 5.28 5.0 5,459 Forfeited (27,000 ) 21.55 8.8 401 Outstanding at March 31, 2017 1,875,334 9.96 6.2 $ 49,540 Exercisable at March 31, 2017 928,236 $ 5.12 4.6 $ 29,013 Three Months Ended March 31, 2016: Outstanding at January 1, 2016 2,498,834 $ 6.66 6.3 $ 42,743 Granted 198,000 19.11 9.8 - Exercised (411,000 ) 4.27 4.6 7,372 Forfeited (9,000 ) 19.52 9.3 24 Outstanding at March 31, 2016 2,276,834 8.12 6.7 $ 32,058 Exercisable at March 31, 2016 782,836 $ 4.74 5.2 $ 13,672 |
Note 10 - Fair Value Measurem25
Note 10 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at March 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury and government sponsored agencies $ - $ 58,034 $ - $ 58,034 Mortgage-backed securities - 253,385 - 253,385 State and municipal securities - 137,535 - 137,535 Corporate debt - 5,002 - 5,002 Total assets at fair value $ - $ 453,956 $ - $ 453,956 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available for sale debt securities: U.S. Treasury and government sponsored agencies $ - $ 46,254 $ - $ 46,254 Mortgage-backed securities - 227,190 - 227,190 State and municipal securities - 139,930 - 139,930 Corporate debt - 9,001 - 9,001 Total assets at fair value $ - $ 422,375 $ - $ 422,375 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at March 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 34,989 $ 34,989 Other real estate owned and repossessed assets - - 5,102 5,102 Total assets at fair value $ - $ - $ 40,091 $ 40,091 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 37,437 $ 37,437 Other real estate owned - - 4,988 4,988 Total assets at fair value $ - $ - $ 42,425 $ 42,425 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2017 December 31, 2016 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 inputs: Cash and due from banks $ 338,174 $ 338,174 $ 623,562 $ 623,562 Level 2 inputs: Available for sale debt securities $ 453,956 $ 453,956 $ 422,375 $ 422,375 Held to maturity debt securities 34,547 34,892 25,052 25,431 Equity securities 1,034 1,034 1,024 1,024 Federal funds sold 127,390 127,390 160,435 160,435 Mortgage loans held for sale 6,599 6,718 4,675 4,736 Bank owned life insurance contracts 115,112 115,112 114,388 114,388 Level 3 Inputs: Held to maturity debt securities $ 37,510 $ 38,288 $ 37,512 $ 37,871 Loans, net 5,098,092 5,111,532 4,859,877 4,872,689 Financial Liabilities: Level 2 inputs: Deposits $ 5,361,532 $ 5,358,573 $ 5,420,311 $ 5,417,320 Federal funds purchased 358,241 358,241 355,944 355,944 Other borrowings 55,169 54,234 55,262 54,203 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) | Dec. 20, 2016 |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 |
Note 3 - Earnings Per Common 27
Note 3 - Earnings Per Common Share (Details Textual) | Dec. 20, 2016 |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 |
Note 3 - Earnings Per Common 28
Note 3 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings per common share | ||
Weighted average common shares outstanding (in shares) | 52,745,335 | 52,194,726 |
Net income available to common stockholders | $ 22,519 | $ 19,956 |
Basic earnings per common share (in dollars per share) | $ 0.43 | $ 0.38 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 1,388,387 | 938,894 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,133,722 | 53,133,620 |
Net income available to common stockholders | $ 22,519 | $ 19,956 |
Diluted earnings per common share (in dollars per share) | $ 0.42 | $ 0.38 |
Note 4 - Securities - Amortized
Note 4 - Securities - Amortized Cost And Fair Value Of Available For Sale And Held To Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available for sale, amortized cost | $ 453,384 | $ 423,330 |
Available for sale, gross unrealized gain | 3,101 | 3,033 |
Available for sale, gross unrealized loss | (2,529) | (3,988) |
Available for sale, fair value | 453,956 | 422,375 |
Held to maturity, amortized cost | 72,057 | 62,564 |
Held to maturity, gross unrealized gain | 1,414 | 1,010 |
Held to maturity, gross unrealized loss | (291) | (272) |
Held to maturity debt securities, fair value | 73,180 | 63,302 |
US Treasury and Government [Member] | ||
Available for sale, amortized cost | 57,732 | 45,998 |
Available for sale, gross unrealized gain | 408 | 382 |
Available for sale, gross unrealized loss | (106) | (126) |
Available for sale, fair value | 58,034 | 46,254 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale, amortized cost | 254,225 | 228,843 |
Available for sale, gross unrealized gain | 1,315 | 1,515 |
Available for sale, gross unrealized loss | (2,155) | (3,168) |
Available for sale, fair value | 253,385 | 227,190 |
Held to maturity, amortized cost | 28,658 | 19,164 |
Held to maturity, gross unrealized gain | 312 | 321 |
Held to maturity, gross unrealized loss | (269) | (245) |
Held to maturity debt securities, fair value | 28,701 | 19,240 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale, amortized cost | 136,431 | 139,504 |
Available for sale, gross unrealized gain | 1,372 | 1,120 |
Available for sale, gross unrealized loss | (268) | (694) |
Available for sale, fair value | 137,535 | 139,930 |
Held to maturity, amortized cost | 5,889 | 5,888 |
Held to maturity, gross unrealized gain | 308 | 315 |
Held to maturity, gross unrealized loss | (6) | (12) |
Held to maturity debt securities, fair value | 6,191 | 6,191 |
Corporate Debt Securities [Member] | ||
Available for sale, amortized cost | 4,996 | 8,985 |
Available for sale, gross unrealized gain | 6 | 16 |
Available for sale, gross unrealized loss | ||
Available for sale, fair value | 5,002 | 9,001 |
Held to maturity, amortized cost | 37,510 | 37,512 |
Held to maturity, gross unrealized gain | 794 | 374 |
Held to maturity, gross unrealized loss | (16) | (15) |
Held to maturity debt securities, fair value | $ 38,288 | $ 37,871 |
Note 4 - Securities - Amortiz30
Note 4 - Securities - Amortized Cost And Fair Value Of Contractual Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available for sale, amortized cost | $ 453,384 | $ 423,330 |
Available for sale, fair value | 453,956 | 422,375 |
Held to maturity, amortized cost | 72,057 | 62,564 |
Held to maturity debt securities, fair value | 73,180 | 63,302 |
Due Within One Year [Member] | ||
Available for sale, amortized cost | 19,508 | 28,270 |
Available for sale, fair value | 19,587 | 28,400 |
Due from One to Five Years [Member] | ||
Available for sale, amortized cost | 154,295 | 152,347 |
Available for sale, fair value | 155,590 | 153,003 |
Held to maturity, amortized cost | 250 | 250 |
Held to maturity debt securities, fair value | 250 | 250 |
Due from Five to Ten Years [Member] | ||
Available for sale, amortized cost | 25,356 | 13,870 |
Available for sale, fair value | 25,394 | 13,782 |
Held to maturity, amortized cost | 34,248 | 34,251 |
Held to maturity debt securities, fair value | 34,879 | 34,617 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale, amortized cost | 254,225 | 228,843 |
Available for sale, fair value | 253,385 | 227,190 |
Held to maturity, amortized cost | 28,658 | 19,164 |
Held to maturity debt securities, fair value | 28,701 | 19,240 |
Due After Ten Years [Member] | ||
Held to maturity, amortized cost | 8,901 | 8,899 |
Held to maturity debt securities, fair value | $ 9,350 | $ 9,195 |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Less Than Twelve Months, Gross Unrealized Losses | $ (2,809) | $ (4,252) |
Less Than Twelve Months, Fair Value | 235,706 | 252,626 |
Twelve Months or More, Gross Unrealized Losses | (11) | (8) |
Twelve Months or More, Fair Value | 1,412 | 1,021 |
Total, Gross Unrealized Losses | (2,820) | (4,260) |
Total, Fair Value | 237,118 | 253,647 |
US Treasury and Government [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (106) | (126) |
Less Than Twelve Months, Fair Value | 7,902 | 10,865 |
Twelve Months or More, Gross Unrealized Losses | ||
Twelve Months or More, Fair Value | ||
Total, Gross Unrealized Losses | (106) | (126) |
Total, Fair Value | 7,902 | 10,865 |
Collateralized Mortgage Backed Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (2,424) | (3,413) |
Less Than Twelve Months, Fair Value | 188,130 | 174,225 |
Twelve Months or More, Gross Unrealized Losses | ||
Twelve Months or More, Fair Value | ||
Total, Gross Unrealized Losses | (2,424) | (3,413) |
Total, Fair Value | 188,130 | 174,225 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (263) | (698) |
Less Than Twelve Months, Fair Value | 36,644 | 64,502 |
Twelve Months or More, Gross Unrealized Losses | (11) | (8) |
Twelve Months or More, Fair Value | 1,412 | 1,021 |
Total, Gross Unrealized Losses | (274) | (706) |
Total, Fair Value | 38,056 | 65,523 |
Corporate Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (16) | (15) |
Less Than Twelve Months, Fair Value | 3,030 | 3,034 |
Twelve Months or More, Gross Unrealized Losses | ||
Twelve Months or More, Fair Value | ||
Total, Gross Unrealized Losses | (16) | (15) |
Total, Fair Value | $ 3,030 | $ 3,034 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) xbrli-pure in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 7.3 | $ 6.8 | $ 7.3 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 2.3 | $ 0.9 | $ 2.3 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Financing receivable, gross | $ 5,151,984 | $ 4,911,770 | |||
Less allowance for loan losses | (53,892) | (51,893) | [1] | $ (45,145) | $ (43,419) |
Net Loans | $ 5,098,092 | $ 4,859,877 | [1] | ||
Financing receivable, gross, percentage | 100.00% | 100.00% | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing receivable, gross | $ 2,061,503 | $ 1,982,267 | |||
Less allowance for loan losses | $ (28,707) | $ (28,872) | (22,839) | (21,495) | |
Financing receivable, gross, percentage | 40.01% | 40.36% | |||
Real Estate Portfolio Segment[Member] | |||||
Financing receivable, gross | $ 2,689,794 | $ 2,539,207 | |||
Financing receivable, gross, percentage | 52.21% | 51.70% | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Financing receivable, gross | $ 345,777 | $ 335,085 | |||
Less allowance for loan losses | $ (4,825) | $ (5,125) | (5,005) | (5,432) | |
Financing receivable, gross, percentage | 6.71% | 6.82% | |||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||
Financing receivable, gross | $ 1,262,578 | $ 1,171,719 | |||
Financing receivable, gross, percentage | 24.51% | 23.86% | |||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||
Financing receivable, gross | $ 554,261 | $ 536,805 | |||
Financing receivable, gross, percentage | 10.76% | 10.93% | |||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||
Financing receivable, gross | $ 872,955 | $ 830,683 | |||
Financing receivable, gross, percentage | 16.94% | 16.91% | |||
Consumer Portfolio Segment [Member] | |||||
Financing receivable, gross | $ 54,910 | $ 55,211 | |||
Less allowance for loan losses | $ (398) | $ (392) | $ (400) | $ (431) | |
Financing receivable, gross, percentage | 1.07% | 1.12% | |||
[1] | Derived from audited financial statements |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing receivable, gross | $ 5,151,984 | $ 4,911,770 |
Pass [Member] | ||
Financing receivable, gross | 5,034,116 | 4,782,964 |
Special Mention [Member] | ||
Financing receivable, gross | 77,866 | 86,298 |
Substandard [Member] | ||
Financing receivable, gross | 40,002 | 42,508 |
Doubtful [Member] | ||
Financing receivable, gross | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,061,503 | 1,982,267 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 1,989,337 | 1,893,664 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 48,280 | 61,035 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 23,886 | 27,568 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 2,689,794 | 2,539,207 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 345,777 | 335,085 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,262,578 | 1,171,719 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 554,261 | 536,805 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 872,955 | 830,683 |
Real Estate Portfolio Segment[Member] | Pass [Member] | ||
Financing receivable, gross | 2,655,476 | 2,509,207 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 334,480 | 324,958 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,248,552 | 1,158,615 |
Real Estate Portfolio Segment[Member] | Pass [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 549,371 | 531,868 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 857,553 | 818,724 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | ||
Financing receivable, gross | 21,860 | 19,326 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 7,639 | 5,861 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 6,126 | 6,037 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,161 | 2,065 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 14,573 | 11,224 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | ||
Financing receivable, gross | 12,458 | 10,674 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 3,658 | 4,266 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 7,900 | 7,067 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 3,729 | 2,872 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 829 | 735 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | One to Four Family [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | ||
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 54,910 | 55,211 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 54,823 | 55,135 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 87 | 76 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross |
Note 5 - Loans - Loans by Perfo
Note 5 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing receivable, gross | $ 5,151,984 | $ 4,911,770 |
Performing Financial Instruments [Member] | ||
Financing receivable, gross | 5,139,884 | 4,894,883 |
Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 12,100 | 16,887 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,061,503 | 1,982,267 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,054,524 | 1,974,975 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 6,979 | 7,292 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 2,689,794 | 2,539,207 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 345,777 | 335,085 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,262,578 | 1,171,719 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 554,261 | 536,805 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 872,955 | 830,683 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,687,350 | 2,532,925 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 343,116 | 331,817 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,261,205 | 1,165,511 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 553,190 | 536,731 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 872,955 | 830,683 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 2,444 | 6,282 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 2,661 | 3,268 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,373 | 6,208 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,071 | 74 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | ||
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 54,910 | 55,211 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 54,894 | 55,166 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | $ 16 | $ 45 |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Accrual loans, past due | $ 5,680 | $ 8,336 | |
Non-accrual | 12,084 | 10,624 | |
Current | 5,134,220 | 4,892,810 | |
Loans | 5,151,984 | 4,911,770 | [1] |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 5,581 | 1,076 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 83 | 997 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 16 | 6,263 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accrual loans, past due | 1,031 | 760 | |
Non-accrual | 6,979 | 7,282 | |
Current | 2,053,493 | 1,974,225 | |
Loans | 2,061,503 | 1,982,267 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 1,023 | 710 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 8 | 40 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 10 | ||
Real Estate Portfolio Segment[Member] | |||
Accrual loans, past due | 4,211 | 7,403 | |
Non-accrual | 2,444 | 74 | |
Current | 2,683,139 | 2,531,730 | |
Loans | 2,689,794 | 2,539,207 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Accrual loans, past due | 363 | 59 | |
Non-accrual | 2,661 | 3,268 | |
Current | 342,753 | 331,758 | |
Loans | 345,777 | 335,085 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 1,001 | 6,208 | |
Non-accrual | 1,373 | ||
Current | 1,260,204 | 1,165,511 | |
Loans | 1,262,578 | 1,171,719 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Accrual loans, past due | 260 | 289 | |
Non-accrual | 1,071 | 74 | |
Current | 552,930 | 536,442 | |
Loans | 554,261 | 536,805 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 2,950 | 906 | |
Non-accrual | |||
Current | 870,005 | 829,777 | |
Loans | 872,955 | 830,683 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 4,166 | 255 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 363 | 59 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 1,001 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 215 | 160 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 2,950 | 95 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 45 | 940 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | |||
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | |||
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 45 | 129 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 811 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 6,208 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | |||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 6,208 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | |||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | |||
Consumer Portfolio Segment [Member] | |||
Accrual loans, past due | 75 | 114 | |
Non-accrual | |||
Current | 54,835 | 55,097 | |
Loans | 54,910 | 55,211 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 29 | 52 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 30 | 17 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | $ 16 | $ 45 | |
[1] | Derived from audited financial statements |
Note 5 - Loans - Analysis of al
Note 5 - Loans - Analysis of allowance for Loans Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |||
Balance, beginning of period | $ 51,893 | [1] | $ 43,419 | ||
Charge-offs | (3,196) | (449) | |||
Recoveries | 209 | 116 | |||
Provision | 4,986 | 2,059 | |||
Balance, end of period | 53,892 | 45,145 | |||
Individually Evaluated for Impairment | 8,032 | $ 8,152 | |||
Collectively Evaluated for Impairment | 45,860 | 43,741 | |||
Loans | 5,151,984 | 4,911,770 | [1] | ||
Individually Evaluated for Impairment | 43,021 | 45,589 | |||
Collectively Evaluated for Impairment | 5,108,963 | 4,866,181 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance, beginning of period | 28,872 | 21,495 | |||
Charge-offs | (2,855) | (50) | |||
Recoveries | 190 | 3 | |||
Provision | 2,500 | 1,391 | |||
Balance, end of period | 28,707 | 22,839 | |||
Individually Evaluated for Impairment | 5,297 | 6,607 | |||
Collectively Evaluated for Impairment | 23,410 | 22,265 | |||
Loans | 2,061,503 | 1,982,267 | |||
Individually Evaluated for Impairment | 24,230 | 27,922 | |||
Collectively Evaluated for Impairment | 2,037,273 | 1,954,345 | |||
Real Estate Portfolio Segment[Member] | |||||
Loans | 2,689,794 | 2,539,207 | |||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||
Balance, beginning of period | 5,125 | 5,432 | |||
Charge-offs | (381) | ||||
Recoveries | 16 | 16 | |||
Provision | (316) | (62) | |||
Balance, end of period | 4,825 | 5,005 | |||
Individually Evaluated for Impairment | 921 | 923 | |||
Collectively Evaluated for Impairment | 3,904 | 4,202 | |||
Loans | 345,777 | 335,085 | |||
Individually Evaluated for Impairment | 3,705 | 4,314 | |||
Collectively Evaluated for Impairment | 342,072 | 330,771 | |||
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||||
Balance, beginning of period | 17,504 | 16,061 | |||
Charge-offs | (266) | ||||
Recoveries | 2 | 97 | |||
Provision | 2,722 | 743 | |||
Balance, end of period | 19,962 | 16,901 | |||
Individually Evaluated for Impairment | 1,814 | 622 | |||
Collectively Evaluated for Impairment | 18,148 | 16,882 | |||
Loans | 2,689,794 | 2,539,207 | |||
Individually Evaluated for Impairment | 15,084 | 13,350 | |||
Collectively Evaluated for Impairment | 2,674,710 | 2,525,857 | |||
Consumer Portfolio Segment [Member] | |||||
Balance, beginning of period | 392 | 431 | |||
Charge-offs | (75) | (18) | |||
Recoveries | 1 | ||||
Provision | 80 | (13) | |||
Balance, end of period | 398 | $ 400 | |||
Individually Evaluated for Impairment | |||||
Collectively Evaluated for Impairment | 398 | 392 | |||
Loans | 54,910 | 55,211 | |||
Individually Evaluated for Impairment | 2 | 3 | |||
Collectively Evaluated for Impairment | $ 54,908 | $ 55,208 | |||
[1] | Derived from audited financial statements |
Note 5 - Loans - Summary of Imp
Note 5 - Loans - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Recorded investment, with no allowance | $ 7,576 | $ 7,398 |
Unpaid principal balance, with no allowance | 7,745 | 8,427 |
Average recorded investment, with no allowance | 7,856 | 7,907 |
Interest income recognized in period, with no allowance | 93 | 395 |
Recorded investment, with an allowance | 35,445 | 38,191 |
Unpaid principal balance, with an allowance | 35,445 | 43,000 |
Related allowance | 8,032 | 8,152 |
Average recorded investment, with an allowance | 35,013 | 37,779 |
Interest income recognized in period, with an allowance | 337 | 1,611 |
Recorded investment | 43,021 | 45,589 |
Unpaid principal balance | 43,190 | 51,427 |
Average recorded investment | 42,869 | 45,686 |
Interest income recognized in period | 430 | 2,006 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 1,001 | 1,003 |
Unpaid principal balance, with no allowance | 1,001 | 1,003 |
Average recorded investment, with no allowance | 1,007 | 992 |
Interest income recognized in period, with no allowance | 16 | 64 |
Recorded investment, with an allowance | 23,229 | 26,919 |
Unpaid principal balance, with an allowance | 23,229 | 31,728 |
Related allowance | 5,297 | 6,607 |
Average recorded investment, with an allowance | 23,063 | 26,955 |
Interest income recognized in period, with an allowance | 228 | 1,162 |
Recorded investment | 24,230 | 27,922 |
Unpaid principal balance | 24,230 | 32,731 |
Average recorded investment | 24,070 | 27,947 |
Interest income recognized in period | 244 | 1,226 |
Real Estate Portfolio Segment[Member] | ||
Recorded investment, with no allowance | 6,243 | 5,454 |
Unpaid principal balance, with no allowance | 6,407 | 5,617 |
Average recorded investment, with no allowance | 6,512 | 5,750 |
Interest income recognized in period, with no allowance | 76 | 328 |
Recorded investment, with an allowance | 8,841 | 7,896 |
Unpaid principal balance, with an allowance | 8,841 | 7,896 |
Related allowance | 1,814 | 622 |
Average recorded investment, with an allowance | 8,576 | 7,247 |
Interest income recognized in period, with an allowance | 95 | 381 |
Recorded investment | 15,084 | 13,350 |
Unpaid principal balance | 15,248 | 13,513 |
Average recorded investment | 15,088 | 12,997 |
Interest income recognized in period | 171 | 709 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Recorded investment, with no allowance | 330 | 938 |
Unpaid principal balance, with no allowance | 333 | 1,802 |
Average recorded investment, with no allowance | 333 | 1,159 |
Interest income recognized in period, with no allowance | 1 | 3 |
Recorded investment, with an allowance | 3,375 | 3,376 |
Unpaid principal balance, with an allowance | 3,375 | 3,376 |
Related allowance | 921 | 923 |
Average recorded investment, with an allowance | 3,374 | 3,577 |
Interest income recognized in period, with an allowance | 14 | 68 |
Recorded investment | 3,705 | 4,314 |
Unpaid principal balance | 3,708 | 5,178 |
Average recorded investment | 3,707 | 4,736 |
Interest income recognized in period | 15 | 71 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Recorded investment, with no allowance | 2,561 | 2,615 |
Unpaid principal balance, with no allowance | 2,725 | 2,778 |
Average recorded investment, with no allowance | 2,750 | 2,884 |
Interest income recognized in period, with no allowance | 40 | 166 |
Recorded investment, with an allowance | 7,774 | 6,924 |
Unpaid principal balance, with an allowance | 7,774 | 6,924 |
Related allowance | 1,445 | 348 |
Average recorded investment, with an allowance | 7,317 | 6,934 |
Interest income recognized in period, with an allowance | 79 | 362 |
Recorded investment | 10,335 | 9,539 |
Unpaid principal balance | 10,499 | 9,702 |
Average recorded investment | 10,067 | 9,818 |
Interest income recognized in period | 119 | 528 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Recorded investment, with no allowance | 2,758 | 1,899 |
Unpaid principal balance, with no allowance | 2,758 | 1,899 |
Average recorded investment, with no allowance | 2,831 | 1,901 |
Interest income recognized in period, with no allowance | 22 | 102 |
Recorded investment, with an allowance | 971 | 972 |
Unpaid principal balance, with an allowance | 971 | 972 |
Related allowance | 273 | 274 |
Average recorded investment, with an allowance | 972 | 313 |
Interest income recognized in period, with an allowance | 12 | 19 |
Recorded investment | 3,729 | 2,871 |
Unpaid principal balance | 3,729 | 2,871 |
Average recorded investment | 3,803 | 2,214 |
Interest income recognized in period | 34 | 121 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Recorded investment, with no allowance | 924 | 940 |
Unpaid principal balance, with no allowance | 924 | 940 |
Average recorded investment, with no allowance | 931 | 965 |
Interest income recognized in period, with no allowance | 14 | 60 |
Recorded investment, with an allowance | 96 | |
Unpaid principal balance, with an allowance | 96 | |
Related allowance | 96 | |
Average recorded investment, with an allowance | 287 | |
Interest income recognized in period, with an allowance | 4 | |
Recorded investment | 1,020 | 940 |
Unpaid principal balance | 1,020 | 940 |
Average recorded investment | 1,218 | 965 |
Interest income recognized in period | 18 | 60 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 2 | 3 |
Unpaid principal balance, with no allowance | 4 | 5 |
Average recorded investment, with no allowance | 4 | 6 |
Interest income recognized in period, with no allowance | ||
Recorded investment, with an allowance | ||
Unpaid principal balance, with an allowance | ||
Related allowance | ||
Average recorded investment, with an allowance | ||
Interest income recognized in period, with an allowance | ||
Recorded investment | 2 | 3 |
Unpaid principal balance | 4 | 5 |
Average recorded investment | 4 | 6 |
Interest income recognized in period |
Note 6 - Employee and Directo39
Note 6 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation | $ 337,000 | $ 343,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 11.91 | $ 5.77 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 2,539,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 36 days | |
Restricted Stock [Member] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 448,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 182 days | |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 483,276 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 364,500 | |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
The 2005 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 6,150,000 | |
The 2009 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,550,000 |
Note 6 - Employee and Directo40
Note 6 - Employee and Director Benefits - Assumption Used to Estimate Fair Value of Stock Option Awards (Details) - Employee Stock Option [Member] | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Expected volatility | 29.00% | 29.00% |
Expected dividends | 0.43% | 0.60% |
Expected term (in years) (Year) | 6 years | 6 years |
Risk-free rate | 2.08% | 1.92% |
Note 6 - Employee and Directo41
Note 6 - Employee and Director Benefits - Summary of Stock Option Activity (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding (in shares) | 2,026,334 | 2,498,834 | 2,498,834 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 9 | $ 6.66 | $ 6.66 | |
Outstanding, weighted average remaining contractual term (Year) | 6 years 73 days | 6 years 255 days | 6 years 73 days | 6 years 109 days |
Outstanding, aggregate intrinsic value | $ 49,540 | $ 32,058 | $ 57,636 | $ 42,743 |
Granted (in shares) | 51,500 | 198,000 | ||
Granted, weighted average exercise price (in dollars per share) | $ 38.10 | $ 19.11 | ||
Granted, weighted average remaining contractual term (Year) | 9 years 292 days | 9 years 292 days | ||
Granted, aggregate intrinsic value | $ (89) | |||
Exercised (in shares) | (175,500) | (411,000) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 5.28 | $ 4.27 | ||
Exercised, weighted average remaining contractual term (Year) | 5 years | 4 years 219 days | ||
Exercised, aggregate intrinsic value | $ 5,459 | $ 7,372 | ||
Forfeited (in shares) | (27,000) | (9,000) | ||
Forfeited, weighted average exercise price (in dollars per share) | $ 21.55 | $ 19.52 | ||
Forfeited, weighted average remaining contractual term (Year) | 8 years 292 days | 9 years 109 days | ||
Forfeited, aggregate intrinsic value | $ 401 | $ 24 | ||
Outstanding (in shares) | 1,875,334 | 2,276,834 | 2,026,334 | 2,498,834 |
Outstanding, weighted average exercise price (in dollars per share) | $ 9.96 | $ 8.12 | $ 9 | $ 6.66 |
Exercisable (in shares) | 928,236 | 782,836 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 5.12 | $ 4.74 | ||
Exercisable, weighted average remaining contractual term (Year) | 4 years 219 days | 5 years 73 days | ||
Exercisable, aggregate intrinsic value | $ 29,013 | $ 13,672 |
Note 8 - Recently Adopted Acc42
Note 8 - Recently Adopted Accounting Pronouncements (Details Textual) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |
Adjustments for New Accounting Principle, Early Adoption [Member] | |||
Tax Adjustments, Settlements, and Unusual Provisions | $ 2.1 | $ 4.8 | $ 2.3 |
Note 10 - Fair Value Measurem43
Note 10 - Fair Value Measurement (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Asset Impairment Charges | $ 2,978,000 | $ 911,000 | |
Real Estate Owned, Amount of Loss at Acquisition | 30,000 | $ 392,000 | |
Mortgage Loans on Real Estate, Foreclosures | 0 | $ 189,000 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 77,000 | $ 0 |
Note 10 - Fair Value Measurem44
Note 10 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities | $ 453,956 | $ 422,375 |
US Treasury and Government [Member] | ||
Available-for-sale securities | 58,034 | 46,254 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 253,385 | 227,190 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 137,535 | 139,930 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 5,002 | 9,001 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 453,956 | 422,375 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 58,034 | 46,254 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 253,385 | 227,190 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 137,535 | 139,930 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 5,002 | 9,001 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 453,956 | 422,375 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 58,034 | 46,254 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 253,385 | 227,190 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 137,535 | 139,930 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 5,002 | 9,001 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities |
Note 10 - Fair Value Measurem45
Note 10 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Impaired loans | $ 34,989 | $ 37,437 |
Other real estate owned and repossessed assets | 5,102 | 4,988 |
Total assets at fair value | 40,091 | 42,425 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Other real estate owned and repossessed assets | ||
Total assets at fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Other real estate owned and repossessed assets | ||
Total assets at fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 34,989 | 37,437 |
Other real estate owned and repossessed assets | 5,102 | 4,988 |
Total assets at fair value | $ 40,091 | $ 42,425 |
Note 10 -Fair Value Measurement
Note 10 -Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Cash and due from banks | $ 54,993 | $ 56,855 | [1] |
Available for sale debt securities, at fair value | 453,956 | 422,375 | [1] |
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 72,057 | 62,564 | [1] |
Equity securities | 1,034 | 1,024 | [1] |
Federal funds sold | 127,390 | 160,435 | [1] |
Mortgage loans held for sale | 6,599 | 4,675 | [1] |
Bank owned life insurance contracts | 115,112 | 114,388 | [1] |
Loans, net | 5,098,092 | 4,859,877 | [1] |
Federal funds purchased | 358,241 | 355,944 | [1] |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and due from banks | 338,174 | 623,562 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 338,174 | 623,562 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Available for sale debt securities, at fair value | 453,956 | 422,375 | |
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 34,547 | 25,052 | |
Equity securities | 1,034 | 1,024 | |
Federal funds sold | 127,390 | 160,435 | |
Mortgage loans held for sale | 6,599 | 4,675 | |
Bank owned life insurance contracts | 115,112 | 114,388 | |
Deposits | 5,361,532 | 5,420,311 | |
Federal funds purchased | 358,241 | 355,944 | |
Other borrowings | 55,169 | 55,262 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Available for sale debt securities, at fair value | 453,956 | 422,375 | |
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 34,892 | 25,431 | |
Equity securities | 1,034 | 1,024 | |
Federal funds sold | 127,390 | 160,435 | |
Mortgage loans held for sale | 6,718 | 4,736 | |
Bank owned life insurance contracts | 115,112 | 114,388 | |
Deposits | 5,358,573 | 5,417,320 | |
Federal funds purchased | 358,241 | 355,944 | |
Other borrowings | 54,234 | 54,203 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 37,510 | 37,512 | |
Loans, net | 5,098,092 | 4,859,877 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Held to maturity debt securities (fair value of $73,180 and $63,302 at March 31, 2017 and December 31, 2016, respectively) | 38,288 | 37,871 | |
Loans, net | $ 5,111,532 | $ 4,872,689 | |
[1] | Derived from audited financial statements |