Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 27, 2018 | |
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 | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 53,164,733 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | [1] |
ASSETS | |||
Cash and due from banks | $ 68,344,000 | $ 86,213,000 | |
Interest-bearing balances due from depository institutions | 81,742,000 | 151,849,000 | |
Federal funds sold | 15,585,000 | 239,524,000 | |
Cash and cash equivalents | 165,671,000 | 477,586,000 | |
Available for sale debt securities, at fair value | 583,549,000 | 538,080,000 | |
Held to maturity debt securities (fair value of $250 at June 30, 2018 and December 31, 2017) | 250,000 | 250,000 | |
Equity securities | 993,000 | 1,034,000 | |
Mortgage loans held for sale | 4,605,000 | 4,459,000 | |
Loans | 6,129,649,000 | 5,851,261,000 | |
Less allowance for loan losses | (64,239,000) | (59,406,000) | |
Loans, net | 6,065,410,000 | 5,791,855,000 | |
Premises and equipment, net | 58,299,000 | 58,900,000 | |
Accrued interest and dividends receivable | 21,375,000 | 20,661,000 | |
Deferred tax assets | 11,661,000 | 13,022,000 | |
Other real estate owned and repossessed assets | 5,937,000 | 6,701,000 | |
Bank owned life insurance contracts | 129,082,000 | 127,519,000 | |
Goodwill and other identifiable intangible assets | 14,584,000 | 14,719,000 | |
Other assets | 23,146,000 | 27,598,000 | |
Total assets | 7,084,562,000 | 7,082,384,000 | |
Deposits: | |||
Noninterest-bearing | 1,481,447,000 | 1,440,326,000 | |
Interest-bearing | 4,604,235,000 | 4,651,348,000 | |
Total deposits | 6,085,682,000 | 6,091,674,000 | |
Federal funds purchased | 262,659,000 | 301,797,000 | |
Other borrowings | 64,648,000 | 64,832,000 | |
Accrued interest payable | 7,222,000 | 4,971,000 | |
Other liabilities | 9,237,000 | 11,506,000 | |
Total liabilities | 6,429,448,000 | 6,474,780,000 | |
Stockholders' equity: | |||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,150,733 shares issued and outstanding at June 30, 2018, and 52,992,586 shares issued and outstanding at December 31, 2017 | 53,000 | 53,000 | |
Additional paid-in capital | 217,765,000 | 217,693,000 | |
Retained earnings | 443,972,000 | 389,554,000 | |
Accumulated other comprehensive income | (7,178,000) | (198,000) | |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 654,612,000 | 607,102,000 | |
Noncontrolling interest | 502,000 | 502,000 | |
Total stockholders' equity | 655,114,000 | 607,604,000 | |
Total liabilities and stockholders' equity | 7,084,562,000 | 7,082,384,000 | |
Undesignated Preferred Stock [Member] | |||
Stockholders' equity: | |||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at June 30, 2018 and December 31, 2017 | |||
[1] | derived from audited financial statements |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | [1] |
Held to maturity debt securities, fair value | $ 250 | $ 250 | |
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) | 53,150,733 | 52,992,586 | |
Common stock, outstanding (in shares) | 53,150,733 | 52,992,586 | |
Undesignated Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 | |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 | |
[1] | derived from audited financial statements |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest income: | ||||
Interest and fees on loans | $ 73,620,000 | $ 59,912,000 | $ 143,294,000 | $ 115,468,000 |
Taxable securities | 3,127,000 | 2,274,000 | 5,872,000 | 4,361,000 |
Nontaxable securities | 623,000 | 752,000 | 1,279,000 | 1,517,000 |
Federal funds sold | 694,000 | 287,000 | 1,245,000 | 806,000 |
Other interest and dividends | 332,000 | 313,000 | 715,000 | 903,000 |
Total interest income | 78,396,000 | 63,538,000 | 152,405,000 | 123,055,000 |
Interest expense: | ||||
Deposits | 11,714,000 | 6,321,000 | 21,335,000 | 12,303,000 |
Borrowed funds | 2,160,000 | 1,650,000 | 4,112,000 | 3,133,000 |
Total interest expense | 13,874,000 | 7,971,000 | 25,447,000 | 15,436,000 |
Net interest income | 64,522,000 | 55,567,000 | 126,958,000 | 107,619,000 |
Provision for loan losses | 4,121,000 | 4,381,000 | 8,260,000 | 9,367,000 |
Net interest income after provision for loan losses | 60,401,000 | 51,186,000 | 118,698,000 | 98,252,000 |
Noninterest income: | ||||
Securities gains | 4,000 | |||
Increase in cash surrender value life insurance | 786,000 | 785,000 | 1,563,000 | 1,509,000 |
Other operating income | 475,000 | 385,000 | 882,000 | 775,000 |
Total noninterest income | 5,459,000 | 4,805,000 | 10,328,000 | 9,351,000 |
Noninterest expenses: | ||||
Salaries and employee benefits | 13,098,000 | 12,031,000 | 26,394,000 | 23,744,000 |
Equipment and occupancy expense | 2,113,000 | 2,265,000 | 4,067,000 | 4,505,000 |
Professional services | 924,000 | 808,000 | 1,729,000 | 1,579,000 |
FDIC and other regulatory assessments | 1,159,000 | 1,081,000 | 2,292,000 | 2,078,000 |
OREO expense | 160,000 | 56,000 | 476,000 | 132,000 |
Other operating expenses | 6,556,000 | 5,634,000 | 12,564,000 | 11,104,000 |
Total noninterest expenses | 24,010,000 | 21,875,000 | 47,522,000 | 43,142,000 |
Income before income taxes | 41,850,000 | 34,116,000 | 81,504,000 | 64,461,000 |
Provision for income taxes | 8,310,000 | 9,952,000 | 15,361,000 | 17,778,000 |
Net income | 33,540,000 | 24,164,000 | 66,143,000 | 46,683,000 |
Preferred stock dividends | 31,000 | 31,000 | 31,000 | 31,000 |
Net income available to common stockholders | $ 33,509,000 | $ 24,133,000 | $ 66,112,000 | $ 46,652,000 |
Basic earnings per common share (in dollars per share) | $ 0.63 | $ 0.46 | $ 1.24 | $ 0.88 |
Diluted earnings per common share (in dollars per share) | $ 0.62 | $ 0.45 | $ 1.22 | $ 0.86 |
Deposit Account [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 1,653,000 | $ 1,382,000 | $ 3,238,000 | $ 2,736,000 |
Mortgage Banking [Member] | ||||
Noninterest income: | ||||
Noninterest income | 789,000 | 1,064,000 | 1,307,000 | 1,963,000 |
Credit Card [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 1,756,000 | $ 1,189,000 | $ 3,334,000 | $ 2,368,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net income | $ 33,540,000 | $ 24,164,000 | $ 66,143,000 | $ 46,683,000 |
Other comprehensive (loss) income, net of tax: | ||||
Unrealized holding (losses) gains arising during period from securities available for sale, net of (benefit) of $(553) and $(1,858) for the three and six months ended June 30, 2018, respectively, and tax of $201 and $736 for the three and six months ended June 30, 2017, respectively | (2,073,000) | 374,000 | (6,983,000) | 1,367,000 |
Reclassification adjustment for gains on sale of securities, net of tax of $1 for the six months ended June 30, 2018 | 3,000 | |||
Other comprehensive (loss) income, net of tax | (2,073,000) | 374,000 | (6,980,000) | 1,367,000 |
Comprehensive income | $ 31,467,000 | $ 24,538,000 | $ 59,163,000 | $ 48,050,000 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ (553) | $ 201 | $ (1,858) | $ 736 |
Reclassification adjustment for net gain (loss) on sale of securities, tax | $ 1 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) | 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, 2016 | $ 53,000 | $ 215,932,000 | $ 307,151,000 | $ (624,000) | $ 377,000 | $ 522,889,000 | ||
Common dividends paid | (2,641,000) | (2,641,000) | ||||||
Common dividends declared | (2,645,000) | (2,645,000) | ||||||
Preferred dividends paid | (31,000) | (31,000) | ||||||
Issue shares of common stock upon exercise of stock options | 717,000 | 717,000 | ||||||
Issue shares of REIT preferred stock | 125,000 | 125,000 | ||||||
Stock-based compensation expense | 622,000 | 622,000 | ||||||
Other comprehensive income, net of tax | 1,367,000 | 1,367,000 | ||||||
Net income | 46,683,000 | 46,683,000 | ||||||
Balance at Jun. 30, 2017 | 53,000 | 217,271,000 | 348,517,000 | 743,000 | 502,000 | 567,086,000 | ||
Balance at Dec. 31, 2017 | 53,000 | 217,693,000 | 389,554,000 | (198,000) | 502,000 | 607,604,000 | [1] | |
Common dividends paid | (5,846,000) | (5,846,000) | ||||||
Common dividends declared | (5,848,000) | (5,848,000) | ||||||
Preferred dividends paid | (31,000) | (31,000) | ||||||
Issue shares of common stock upon exercise of stock options | 860,000 | 860,000 | ||||||
Stock-based compensation expense | 482,000 | 482,000 | ||||||
Other comprehensive income, net of tax | (6,980,000) | (6,980,000) | ||||||
Net income | 66,143,000 | 66,143,000 | ||||||
30,539 shares of common stock withheld in net settlement upon exercise of stock options | (1,270) | (1,270) | ||||||
Balance at Jun. 30, 2018 | $ 53,000 | $ 217,765,000 | $ 443,972,000 | $ (7,178,000) | $ 502,000 | $ 655,114,000 | ||
[1] | derived from audited financial statements |
Consolidated Statement of Stoc8
Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Additional Paid-in Capital [Member] | ||
Issuance of common stock, shares (in shares) | 145,297 | 272,466 |
Shares withholed in net settlement upon exercise of stock options (in shares) | 30,539 | |
Noncontrolling Interest [Member] | ||
Issuance of REIT preferred stock, shares (in shares) | 125 | |
Common dividends, per share (in dollars per share) | $ 0.11 | $ 0.05 |
Common dividends, per share declared (in dollars per share) | $ 0.11 | $ 0.05 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING ACTIVITIES | ||
Net income | $ 66,143,000 | $ 46,683,000 |
Adjustments to reconcile net income to net cash provided by | ||
Deferred tax expense | 1,361,000 | 4,000 |
Provision for loan losses | 8,260,000 | 9,367,000 |
Depreciation | 1,679,000 | 1,501,000 |
Accretion on acquired loans | (125,000) | (267,000) |
Amortization of core deposit intangible | 135,000 | 141,000 |
Net amortization of debt securities available for sale | 1,219,000 | 1,999,000 |
Increase in accrued interest and dividends receivable | (714,000) | (969,000) |
Stock-based compensation expense | 482,000 | 622,000 |
Increase (decrease) in accrued interest payable | 2,251,000 | (888,000) |
Proceeds from sale of mortgage loans held for sale | 55,342,000 | 71,518,000 |
Originations of mortgage loans held for sale | (54,181,000) | (70,553,000) |
Gain on sale of debt securities available for sale | (4,000) | |
Gain on sale of mortgage loans held for sale | (1,307,000) | (1,963,000) |
Net loss (gain) on sale of other real estate owned and repossessed assets | 10,000 | (53,000) |
Write down of other real estate owned and repossessed assets | 253,000 | 4,000 |
Operating losses of tax credit partnerships | 70,000 | 7,000 |
Increase in cash surrender value of life insurance contracts | (1,563,000) | (1,509,000) |
Net change in other assets, liabilities, and other operating activities | (2,238,000) | (9,379,000) |
Net cash provided by operating activities | 77,073,000 | 46,265,000 |
INVESTMENT ACTIVITIES | ||
Purchase of debt securities available for sale | (100,718,000) | (60,627,000) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 40,484,000 | 45,325,000 |
Proceeds from sale of debt securities available for sale | 5,100,000 | |
Purchase of debt securities held to maturity | (20,786,000) | |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 4,093,000 | |
Purchase of equity securities | (10,000) | |
Proceeds from sale of equity securities | 30,000 | |
Increase in loans | (282,441,000) | (438,253,000) |
Purchase of premises and equipment | (1,078,000) | (12,984,000) |
Purchase of bank-owned life insurance contracts | (10,000,000) | |
Proceeds from sale of other real estate owned and repossessed assets | 1,252,000 | 1,547,000 |
Net cash used in investing activities | (337,371,000) | (491,695,000) |
FINANCING ACTIVITIES | ||
Net increase in non-interest-bearing deposits | 41,121,000 | 91,748,000 |
Net decrease in interest-bearing deposits | (47,113,000) | (117,249,000) |
Net decrease in federal funds purchased | (39,138,000) | (55,718,000) |
Repayment of Federal Home Loan Bank advances | (200,000) | (200,000) |
Proceeds from sale of preferred stock, net | 125,000 | |
Proceeds from exercise of stock options | 860,000 | 717,000 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (1,270,000) | |
Dividends paid on common stock | (5,846,000) | (2,641,000) |
Dividends paid on preferred stock | (31,000) | (31,000) |
Net cash used in financing activities | (51,617,000) | (83,249,000) |
Net decrease in cash and cash equivalents | (311,915,000) | (528,679,000) |
Cash and cash equivalents at beginning of period | 477,586,000 | 783,997,000 |
Cash and cash equivalents at end of period | 165,671,000 | 255,318,000 |
Cash paid for: | ||
Interest | 23,196,000 | 16,324,000 |
Income taxes | 9,465,000 | 22,363,000 |
Income tax refund | (182,000) | |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 751,000 | 586,000 |
Internally financed sales of other real estate owned | 185,000 | |
Dividends declared | $ 5,848,000 | $ 2,645,000 |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2018 | |
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 10 not not not may 10 December 31, 2017. All reported amounts are in thousands except share and per share data. Revenue Recognition Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606” The majority of our revenue-generating transactions are excluded from the scope of ASC 606, 606, • Deposit account service charges – represent service fees for monthly activity and maintenance on customer accounts. Attributes can be transaction-based, item-based or time-based. Revenue is recognized when our performance obligation is completed which is generally monthly for maintenance services or when a transaction is processed. Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Credit card rewards program membership fees – represent memberships in our credit card rewards program and are paid annually by our cardholders at the time they open an account and on each anniversary. Revenue is recognized ratably over the membership period. Other non-interest income primarily includes income on bank owned life insurance contracts, letter of credit fees and gains on sale of loans held for sale, none 606. |
Note 2 - Cash and Cash Equivale
Note 2 - Cash and Cash Equivalents | 6 Months Ended |
Jun. 30, 2018 | |
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 | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3 Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 53,150,142 52,864,761 53,116,420 52,805,378 Net income available to common stockholders $ 33,509 $ 24,133 $ 66,112 $ 46,652 Basic earnings per common share $ 0.63 $ 0.46 $ 1.24 $ 0.88 Weighted average common shares outstanding 53,150,142 52,864,761 53,116,420 52,805,378 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,045,881 1,235,843 1,073,326 1,311,694 Weighted average common and dilutive potential common shares outstanding 54,196,023 54,100,604 54,189,746 54,117,072 Net income available to common stockholders $ 33,509 $ 24,133 $ 66,112 $ 46,652 Diluted earnings per common share $ 0.62 $ 0.45 $ 1.22 $ 0.86 |
Note 4 - Securities
Note 4 - Securities | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value June 30, 2018: (In Thousands) Securities Available for Sale U.S. Treasury and government sponsored agencies $ 58,072 $ 4 $ (965 ) $ 57,111 Mortgage-backed securities 322,306 515 (8,390 ) 314,431 State and municipal securities 120,885 411 (765 ) 120,531 Corporate debt 91,412 730 (666 ) 91,476 Total 592,675 1,660 (10,786 ) 583,549 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2017: Securities Available for Sale U.S. Treasury and government sponsored agencies $ 55,567 $ 38 $ (249 ) $ 55,356 Mortgage-backed securities 278,177 1,006 (2,685 ) 276,498 State and municipal securities 134,641 761 (553 ) 134,849 Corporate debt 69,996 1,416 (35 ) 71,377 Total 538,381 3,221 (3,522 ) 538,080 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 The amortized cost and fair value of debt securities as of June 30, 2018 December 31, 2017 may may not June 30, 2018 December 31, 2017 Amortized Fair Value Amortized Fair Value (In thousands) Debt securities available for sale Due within one year $ 47,313 $ 47,336 $ 22,122 $ 22,172 Due from one to five years 202,998 201,448 160,773 160,563 Due from five to ten years 17,584 17,767 73,362 74,684 Due after ten years 2,474 2,567 3,947 4,163 Mortgage-backed securities 322,306 314,431 278,177 276,498 $ 592,675 $ 583,549 $ 538,381 $ 538,080 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 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 June 30, 2018 December 31, 2017, 12 12 June 30, 2018, 80 781 12 not not not may not June 30, 2018. not 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) June 30, 2018 U.S. Treasury and government sponsored agencies $ (809 ) $ 54,065 $ (156 ) $ 2,866 $ (965 ) $ 56,931 Mortgage-backed securities (5,255 ) 228,217 (3,135 ) 67,375 (8,390 ) 295,592 State and municipal securities (602 ) 66,356 (163 ) 7,872 (765 ) 74,228 Corporate debt (666 ) 39,738 - - (666 ) 39,738 Total $ (7,332 ) $ 388,376 $ (3,454 ) $ 78,113 $ (10,786 ) $ 466,489 December 31, 2017 U.S. Treasury and government sponsored agencies $ (151 ) $ 33,401 $ (98 ) $ 2,926 $ (249 ) $ 36,327 Mortgage-backed securities (986 ) 140,432 (1,699 ) 75,903 (2,685 ) 216,335 State and municipal securities (450 ) 66,637 (103 ) 6,648 (553 ) 73,285 Corporate debt (35 ) 6,955 - - (35 ) 6,955 Total $ (1,622 ) $ 247,425 $ (1,900 ) $ 85,477 $ (3,522 ) $ 332,902 |
Note 5 - Loans
Note 5 - Loans | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 The following table details the Company’s loans at June 30, 2018 December 31, 2017: June 30, December 31, 2018 2017 (Dollars In Thousands) Commercial, financial and agricultural $ 2,345,879 $ 2,279,366 Real estate - construction 522,788 580,874 Real estate - mortgage: Owner-occupied commercial 1,383,882 1,328,666 1-4 family mortgage 584,133 603,063 Other mortgage 1,225,906 997,079 Subtotal: Real estate - mortgage 3,193,921 2,928,808 Consumer 67,061 62,213 Total Loans 6,129,649 5,851,261 Less: Allowance for loan losses (64,239 ) (59,406 ) Net Loans $ 6,065,410 $ 5,791,855 Commercial, financial and agricultural 38.27 % 38.96 % Real estate - construction 8.53 % 9.93 % Real estate - mortgage: Owner-occupied commercial 22.58 % 22.71 % 1-4 family mortgage 9.53 % 10.30 % Other mortgage 20.00 % 17.04 % Subtotal: Real estate - mortgage 52.11 % 50.05 % Consumer 1.09 % 1.06 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no • Pass – loans which are well protected by the current net worth and paying capacity of the obligor (or obligors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. • Special Mention – loans with potential weakness that may, not not not • Substandard – loans that exhibit well-defined weakness or weaknesses that currently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the weaknesses are not • 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 June 30, 2018 December 31, 2017 Special June 30, 2018 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,289,789 $ 36,027 $ 20,063 $ - $ 2,345,879 Real estate - construction 515,543 5,664 1,581 - 522,788 Real estate - mortgage: Owner-occupied commercial 1,369,814 10,042 4,026 - 1,383,882 1-4 family mortgage 579,288 1,350 3,495 - 584,133 Other mortgage 1,203,952 15,497 6,457 - 1,225,906 Total real estate mortgage 3,153,054 26,889 13,978 - 3,193,921 Consumer 67,009 3 49 - 67,061 Total $ 6,025,395 $ 68,583 $ 35,671 $ - $ 6,129,649 Special December 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,225,084 $ 27,835 $ 26,447 $ - $ 2,279,366 Real estate - construction 572,657 6,691 1,526 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,317,113 7,333 4,220 - 1,328,666 1-4 family mortgage 598,222 1,599 3,242 - 603,063 Other mortgage 976,348 18,122 2,609 - 997,079 Total real estate mortgage 2,891,683 27,054 10,071 - 2,928,808 Consumer 62,083 42 88 - 62,213 Total $ 5,751,507 $ 61,622 $ 38,132 $ - $ 5,851,261 Loans by performance status as of June 30, 2018 December 31, 2017 June 30, 2018 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,338,563 $ 7,316 $ 2,345,879 Real estate - construction 522,788 - 522,788 Real estate - mortgage: Owner-occupied commercial 1,383,210 672 1,383,882 1-4 family mortgage 583,130 1,003 584,133 Other mortgage 1,220,835 5,071 1,225,906 Total real estate mortgage 3,187,175 6,746 3,193,921 Consumer 67,020 41 67,061 Total $ 6,115,546 $ 14,103 $ 6,129,649 December 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,269,642 $ 9,724 $ 2,279,366 Real estate - construction 580,874 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,328,110 556 1,328,666 1-4 family mortgage 602,604 459 603,063 Other mortgage 997,079 - 997,079 Total real estate mortgage 2,927,793 1,015 2,928,808 Consumer 62,127 86 62,213 Total $ 5,840,436 $ 10,825 $ 5,851,261 Loans by past due status as of June 30, 2018 December 31, 2017 June 30, 2018 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 $ 7,259 $ 1,554 $ 431 $ 9,244 $ 6,885 $ 2,329,750 $ 2,345,879 Real estate - construction 2,097 3,182 - 5,279 - 517,509 522,788 Real estate - mortgage: Owner-occupied commercial 3,365 591 250 4,206 422 1,379,254 1,383,882 1-4 family mortgage 919 263 288 1,470 715 581,948 584,133 Other mortgage 1,203 12,941 5,071 19,215 - 1,206,691 1,225,906 Total real estate - mortgage 5,487 13,795 5,609 24,891 1,137 3,167,893 3,193,921 Consumer 316 49 41 406 - 66,655 67,061 Total $ 15,159 $ 18,580 $ 6,081 $ 39,820 $ 8,022 $ 6,081,807 $ 6,129,649 December 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 $ 1,410 $ 5,702 $ 12 $ 7,124 $ 9,712 $ 2,262,530 $ 2,279,366 Real estate - construction 56 997 - 1,053 - 579,821 580,874 Real estate - mortgage: Owner-occupied commercial - 3,664 - 3,664 556 1,324,446 1,328,666 1-4 family mortgage 430 850 - 1,280 459 601,324 603,063 Other mortgage 5,116 - - 5,116 - 991,963 997,079 Total real estate - mortgage 5,546 4,514 - 10,060 1,015 2,917,733 2,928,808 Consumer 131 23 48 202 38 61,973 62,213 Total $ 7,143 $ 11,236 $ 60 $ 18,439 $ 10,765 $ 5,822,057 $ 5,851,261 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 5 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 six June 30, 2018 June 30, 2017. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended June 30, 2018 Allowance for loan losses: Balance at March 31, 2018 $ 35,787 $ 4,138 $ 21,606 $ 519 $ 62,050 Charge-offs (1,732 ) - (440 ) (47 ) (2,219 ) Recoveries 173 97 2 15 287 Provision 1,950 (173 ) 2,270 74 4,121 Balance at June 30, 2018 $ 36,178 $ 4,062 $ 23,438 $ 561 $ 64,239 Three Months Ended June 30, 2017 Allowance for loan losses: Balance at March 31, 2017 $ 28,707 $ 4,825 $ 19,962 $ 398 $ 53,892 Charge-offs (3,067 ) (40 ) (106 ) (33 ) (3,246 ) Recoveries 16 14 2 - 32 Provision 3,471 339 534 37 4,381 Balance at June 30, 2017 $ 29,127 $ 5,138 $ 20,392 $ 402 $ 55,059 Six Months Ended June 30, 2018 Allowance for loan losses: Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 Charge-offs (2,820 ) - (821 ) (135 ) (3,776 ) Recoveries 177 104 44 24 349 Provision 5,941 (1,031 ) 3,193 157 8,260 Balance at June 30, 2018 $ 36,178 $ 4,062 $ 23,438 $ 561 $ 64,239 Six Months Ended June 30, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (5,922 ) (40 ) (372 ) (108 ) (6,442 ) Recoveries 206 30 4 1 241 Provision 5,971 23 3,256 117 9,367 Balance at June 30, 2017 $ 29,127 $ 5,138 $ 20,392 $ 402 $ 55,059 As of June 30, 2018 Allowance for loan losses: Individually Evaluated for Impairment $ 5,423 $ 120 $ 285 $ 49 $ 5,877 Collectively Evaluated for Impairment 30,755 3,942 23,153 512 58,362 Loans: Ending Balance $ 2,345,879 $ 522,788 $ 3,193,921 $ 67,061 $ 6,129,649 Individually Evaluated for Impairment 20,063 1,623 16,240 49 37,975 Collectively Evaluated for Impairment 2,325,816 521,165 3,177,681 67,012 6,091,674 As of December 31, 2017 Allowance for loan losses: Individually Evaluated for Impairment $ 4,276 $ 120 $ 1,163 $ 50 $ 5,609 Collectively Evaluated for Impairment 28,604 4,869 19,859 465 53,797 Loans: Ending Balance $ 2,279,366 $ 580,874 $ 2,928,808 $ 62,213 $ 5,851,261 Individually Evaluated for Impairment 26,447 1,571 12,404 88 40,510 Collectively Evaluated for Impairment 2,252,919 579,303 2,916,404 62,125 5,810,751 The following table presents details of the Company’s impaired loans as of June 30, 2018 December 31, 2017, not For the three months For the six months ended June 30, ended June 30, June 30, 2018 2018 2018 Interest Interest Unpaid Average Income Average Income Recorded Principal Related Recorded Recognized Recorded Recognized Investment Balance Allowance Investment in Period Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 4,842 $ 5,733 $ - $ 5,257 $ 53 $ 5,611 $ 113 Real estate - construction 626 629 - 629 8 630 16 Real estate - mortgage: Owner-occupied commercial 2,512 2,679 - 2,836 42 2,910 86 1-4 family mortgage 2,258 2,258 - 2,255 23 2,255 48 Other mortgage 5,071 5,071 - 5,082 62 5,098 125 Total real estate - mortgage 9,841 10,008 - 10,173 127 10,263 259 Consumer - - - - - - - Total with no allowance recorded 15,309 16,370 - 16,059 188 16,504 388 With an allowance recorded: Commercial, financial and agricultural 15,221 22,044 5,423 15,200 121 15,542 245 Real estate - construction 997 997 120 997 14 997 28 Real estate - mortgage: Owner-occupied commercial 3,776 3,776 27 3,775 46 3,775 94 1-4 family mortgage 1,237 1,237 178 1,240 12 1,240 26 Other mortgage 1,386 1,386 80 1,540 16 1,700 36 Total real estate - mortgage 6,399 6,399 285 6,555 74 6,715 156 Consumer 49 49 49 49 1 49 1 Total with allowance recorded 22,666 29,489 5,877 22,801 210 23,303 430 Total Impaired Loans: Commercial, financial and agricultural 20,063 27,777 5,423 20,457 174 21,153 358 Real estate - construction 1,623 1,626 120 1,626 22 1,627 44 Real estate - mortgage: Owner-occupied commercial 6,288 6,455 27 6,611 88 6,685 180 1-4 family mortgage 3,495 3,495 178 3,495 35 3,495 74 Other mortgage 6,457 6,457 80 6,622 78 6,798 161 Total real estate - mortgage 16,240 16,407 285 16,728 201 16,978 415 Consumer 49 49 49 49 1 49 1 Total impaired loans $ 37,975 $ 45,859 $ 5,877 $ 38,860 $ 398 $ 39,807 $ 818 December 31, 2017 For the twelve months ended December 31, 2017 Unpaid Average Interest Income Recorded Principal Related Recorded Recognized in Investment Balance Allowance Investment Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 10,036 $ 16,639 $ - $ 16,417 $ 571 Real estate - construction 574 577 - 663 31 Real estate - mortgage: Owner-occupied commercial 2,640 2,806 - 2,875 159 1-4 family mortgage 2,262 2,262 - 2,289 93 Other mortgage 746 746 - 727 44 Total real estate - mortgage 5,648 5,814 - 5,891 296 Consumer 38 39 - 42 3 Total with no allowance recorded 16,296 23,069 - 23,013 901 With an allowance recorded: Commercial, financial and agricultural 16,411 16,992 4,276 17,912 651 Real estate - construction 997 997 120 997 56 Real estate - mortgage: Owner-occupied commercial 3,914 3,914 601 3,801 215 1-4 family mortgage 980 980 281 1,113 54 Other mortgage 1,862 1,862 281 1,862 80 Total real estate - mortgage 6,756 6,756 1,163 6,776 349 Consumer 50 50 50 42 3 Total with allowance recorded 24,214 24,795 5,609 25,727 1,059 Total Impaired Loans: Commercial, financial and agricultural 26,447 33,631 4,276 34,329 1,222 Real estate - construction 1,571 1,574 120 1,660 87 Real estate - mortgage: Owner-occupied commercial 6,554 6,720 601 6,676 374 1-4 family mortgage 3,242 3,242 281 3,402 147 Other mortgage 2,608 2,608 281 2,589 124 Total real estate - mortgage 12,404 12,570 1,163 12,667 645 Consumer 88 89 50 84 6 Total impaired loans $ 40,510 $ 47,864 $ 5,609 $ 48,740 $ 1,960 Troubled Debt Restructurings (“TDR”) at June 30, 2018, December 31, 2017 June 30, 2017 $17.3 $20.6 $16.4 June 30, 2018, $3.6 $4.3 December 31, 2017 $3.1 June 30, 2017. no three six June 30, 2018. three six June 30, 2017 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 5 $ 7,205 $ 7,205 5 $ 7,205 $ 7,205 Real estate - construction 1 997 997 1 997 997 Real estate - mortgage: Owner-occupied commercial 2 3,664 3,664 2 3,664 3,664 1-4 family mortgage 1 850 850 1 850 850 Other mortgage - - - - - - Total real estate mortgage 3 4,514 4,514 3 4,514 4,514 Consumer - - - - - - 9 $ 12,716 $ 12,716 9 $ 12,716 $ 12,716 One commercial TDR loan totaling $0.3 twelve twelve three six June 30, 2018. No twelve three six June 30, 2017. 90 June 30, 2018, |
Note 6 - Employee and Director
Note 6 - Employee and Director Benefits | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 6 Stock Options At June 30, 2018, $244,000 $482,000 three six June 30, 2018 $285,000 $622,000 three six June 30, 2017. 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 that uses the assumptions noted in the following table. Expected volatility is based on historical volatilities of the Company’s common stock. 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. 2018 2017 Expected volatility 24.13 % 29.00 % Expected dividends 1.06 % 0.44 % Expected term (in years) 6.25 6.25 Risk-free rate 2.67 % 2.09 % The weighted average grant-date fair value of options granted during the six June 30, 2018 June 30, 2017 $10.95 $11.84, The following table summarizes stock option activity during the six June 30, 2018 June 30, 2017: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2018: Outstanding at January 1, 2018 1,666,834 $ 10.68 5.5 $ 51,377 Granted 12,750 41.50 9.7 (9 ) Exercised (175,836 ) 4.90 3.1 6,317 Forfeited (6,000 ) 19.50 7.7 128 Outstanding at June 30, 2018 1,497,748 11.58 5.3 $ 43,787 Exercisable at June 30, 2018 748,600 $ 7.34 3.9 $ 25,811 Six Months Ended June 30, 2017: Outstanding at January 1, 2017 2,026,334 $ 9.00 6.2 $ 57,636 Granted 51,500 37.95 9.6 (80 ) Exercised (292,000 ) 4.98 4.4 9,169 Forfeited (32,000 ) 21.96 8.6 (462 ) Outstanding at June 30, 2017 1,753,834 10.28 5.9 $ 45,777 Exercisable at June 30, 2017 811,736 $ 5.20 4.4 $ 25,303 As of June 30, 2018, $1,695,000 2.4 Restricted Stock The Company periodically grants restricted stock awards that vest upon service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of June 30, 2018, $811,000 1.8 The following table summarizes restricted stock activity during the six June 30, 2018 2017, Shares Weighted Six Months Ended June 30, 2018: Non-vested at January 1, 2018 120,676 $ 10.29 Granted 11,850 41.29 Vested (61,700 ) 5.81 Forfeited - - Non-vested at June 30, 2018 70,826 19.38 Six Months Ended June 30, 2017: Non-vested at January 1, 2017 118,676 $ 8.88 Granted 6,000 38.16 Vested (4,200 ) 14.49 Forfeited (800 ) 15.74 Non-vested at June 30, 2017 119,676 9.94 |
Note 7 - Derivatives
Note 7 - Derivatives | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 7 The Company has entered into agreements with secondary market investors to deliver loans on a “best efforts delivery” basis. When a rate is committed to a borrower, it is based on the best price that day and locked with the investor for the customer for a 30 not no June 30, 2018 December 31, 2017 not |
Note 8 - Recently Adopted Accou
Note 8 - Recently Adopted Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 8 In February 2018, 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017. December 15, 2018 December 31, 2017. $43,000 21% In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018. 2014 09 not not 2014 09. 2014 09, not not In January 2016, 2016 01, Financial Instruments Overall (Topic 825 2016 01: January 1, 2018. no 10 |
Note 9 - Recent Accounting Pron
Note 9 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | NOTE 9 In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. January 2018, not 2016 02 June 30, 2018, not In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2019, December 15, 2018. third In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not first In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 718, 505 50, December 15, 2018. no 606, January 1, 2019. not not |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2018 | |
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: 1 Level 2: not Level 3: no 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 not may 2 1 2 not 3 Impaired Loans not not 820 10 3 $1,543,000 $3,888,000 three six June 30, 2018, $2,329,000 $5,307,000 three six June 30, 2017, Other Real Estate Owned and repossessed assets not 3 $99,000 $353,000 three six June 30, 2018, $83,000 $53,000 three six June 30, 2017, 3 There was one $176,000 June 30, 2018 none December 31, 2017. Management is negotiating a deed in lieu of a foreclosure related to a $360,000 June 30, 2018. The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of June 30, 2018 December 31, 2017: Fair Value Measurements at June 30, 2018 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 agencies $ - $ 57,111 $ - $ 57,111 Mortgage-backed securities - 314,431 - 314,431 State and municipal securities - 120,531 - 120,531 Corporate debt - 84,951 6,525 91,476 Total assets at fair value $ - $ 577,024 $ 6,525 $ 583,549 Fair Value Measurements at December 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 agencies $ - $ 55,356 $ - $ 55,356 Mortgage-backed securities - 276,498 - 276,498 State and municipal securities - 134,849 - 134,849 Corporate debt - 64,877 6,500 71,377 Total assets at fair value $ - $ 531,580 $ 6,500 $ 538,080 The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of June 30, 2018 December 31, 2017: Fair Value Measurements at June 30, 2018 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 32,098 $ 32,098 Other real estate owned and repossessed assets - - 5,937 5,937 Total assets at fair value $ - $ - $ 38,035 $ 38,035 Fair Value Measurements at December 31, 2017 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 34,901 $ 34,901 Other real estate owned and repossessed assets - - 6,701 6,701 Total assets at fair value $ - $ - $ 41,602 $ 41,602 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 not may not may not The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Debt securities: 1 1 not may 2 1 2 not 3 Equity securities: 1 Mortgage loans held for sale: 30 Bank owned life insurance contracts: June 30, 2018 December 31, 2017 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and due from banks $ 150,086 $ 150,086 $ 238,062 $ 238,062 Level 2 inputs: Available for sale debt securities 577,024 577,024 531,580 531,580 Equity securities 993 993 1,034 1,034 Federal funds sold 15,585 15,585 239,524 239,524 Mortgage loans held for sale 4,605 4,605 4,459 4,459 Bank-owned life insurance contracts 129,082 129,082 127,519 127,519 Level 3 Inputs: Available for sale debt securities 6,525 6,525 6,500 6,500 Held to maturity debt securities 250 250 250 250 Loans, net 6,033,312 5,961,354 5,756,954 5,712,441 Financial liabilities: Level 2 inputs: Deposits $ 6,085,682 $ 6,078,286 $ 6,091,674 $ 6,086,085 Federal funds purchased 262,659 262,659 301,797 301,797 Other borrowings 64,648 65,677 64,832 65,921 |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 6 Months Ended |
Jun. 30, 2018 | |
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 June 30, 2018, June 30, 2018 not |
Note 3 - Earnings Per Common 21
Note 3 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In Thousands, Except Shares and Per Share Data) Earnings per common share Weighted average common shares outstanding 53,150,142 52,864,761 53,116,420 52,805,378 Net income available to common stockholders $ 33,509 $ 24,133 $ 66,112 $ 46,652 Basic earnings per common share $ 0.63 $ 0.46 $ 1.24 $ 0.88 Weighted average common shares outstanding 53,150,142 52,864,761 53,116,420 52,805,378 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,045,881 1,235,843 1,073,326 1,311,694 Weighted average common and dilutive potential common shares outstanding 54,196,023 54,100,604 54,189,746 54,117,072 Net income available to common stockholders $ 33,509 $ 24,133 $ 66,112 $ 46,652 Diluted earnings per common share $ 0.62 $ 0.45 $ 1.22 $ 0.86 |
Note 4 - Securities (Tables)
Note 4 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value June 30, 2018: (In Thousands) Securities Available for Sale U.S. Treasury and government sponsored agencies $ 58,072 $ 4 $ (965 ) $ 57,111 Mortgage-backed securities 322,306 515 (8,390 ) 314,431 State and municipal securities 120,885 411 (765 ) 120,531 Corporate debt 91,412 730 (666 ) 91,476 Total 592,675 1,660 (10,786 ) 583,549 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2017: Securities Available for Sale U.S. Treasury and government sponsored agencies $ 55,567 $ 38 $ (249 ) $ 55,356 Mortgage-backed securities 278,177 1,006 (2,685 ) 276,498 State and municipal securities 134,641 761 (553 ) 134,849 Corporate debt 69,996 1,416 (35 ) 71,377 Total 538,381 3,221 (3,522 ) 538,080 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2018 December 31, 2017 Amortized Fair Value Amortized Fair Value (In thousands) Debt securities available for sale Due within one year $ 47,313 $ 47,336 $ 22,122 $ 22,172 Due from one to five years 202,998 201,448 160,773 160,563 Due from five to ten years 17,584 17,767 73,362 74,684 Due after ten years 2,474 2,567 3,947 4,163 Mortgage-backed securities 322,306 314,431 278,177 276,498 $ 592,675 $ 583,549 $ 538,381 $ 538,080 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 |
Gain (Loss) on Securities [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) June 30, 2018 U.S. Treasury and government sponsored agencies $ (809 ) $ 54,065 $ (156 ) $ 2,866 $ (965 ) $ 56,931 Mortgage-backed securities (5,255 ) 228,217 (3,135 ) 67,375 (8,390 ) 295,592 State and municipal securities (602 ) 66,356 (163 ) 7,872 (765 ) 74,228 Corporate debt (666 ) 39,738 - - (666 ) 39,738 Total $ (7,332 ) $ 388,376 $ (3,454 ) $ 78,113 $ (10,786 ) $ 466,489 December 31, 2017 U.S. Treasury and government sponsored agencies $ (151 ) $ 33,401 $ (98 ) $ 2,926 $ (249 ) $ 36,327 Mortgage-backed securities (986 ) 140,432 (1,699 ) 75,903 (2,685 ) 216,335 State and municipal securities (450 ) 66,637 (103 ) 6,648 (553 ) 73,285 Corporate debt (35 ) 6,955 - - (35 ) 6,955 Total $ (1,622 ) $ 247,425 $ (1,900 ) $ 85,477 $ (3,522 ) $ 332,902 |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2018 2017 (Dollars In Thousands) Commercial, financial and agricultural $ 2,345,879 $ 2,279,366 Real estate - construction 522,788 580,874 Real estate - mortgage: Owner-occupied commercial 1,383,882 1,328,666 1-4 family mortgage 584,133 603,063 Other mortgage 1,225,906 997,079 Subtotal: Real estate - mortgage 3,193,921 2,928,808 Consumer 67,061 62,213 Total Loans 6,129,649 5,851,261 Less: Allowance for loan losses (64,239 ) (59,406 ) Net Loans $ 6,065,410 $ 5,791,855 Commercial, financial and agricultural 38.27 % 38.96 % Real estate - construction 8.53 % 9.93 % Real estate - mortgage: Owner-occupied commercial 22.58 % 22.71 % 1-4 family mortgage 9.53 % 10.30 % Other mortgage 20.00 % 17.04 % Subtotal: Real estate - mortgage 52.11 % 50.05 % Consumer 1.09 % 1.06 % Total Loans 100.00 % 100.00 % |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special June 30, 2018 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,289,789 $ 36,027 $ 20,063 $ - $ 2,345,879 Real estate - construction 515,543 5,664 1,581 - 522,788 Real estate - mortgage: Owner-occupied commercial 1,369,814 10,042 4,026 - 1,383,882 1-4 family mortgage 579,288 1,350 3,495 - 584,133 Other mortgage 1,203,952 15,497 6,457 - 1,225,906 Total real estate mortgage 3,153,054 26,889 13,978 - 3,193,921 Consumer 67,009 3 49 - 67,061 Total $ 6,025,395 $ 68,583 $ 35,671 $ - $ 6,129,649 Special December 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,225,084 $ 27,835 $ 26,447 $ - $ 2,279,366 Real estate - construction 572,657 6,691 1,526 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,317,113 7,333 4,220 - 1,328,666 1-4 family mortgage 598,222 1,599 3,242 - 603,063 Other mortgage 976,348 18,122 2,609 - 997,079 Total real estate mortgage 2,891,683 27,054 10,071 - 2,928,808 Consumer 62,083 42 88 - 62,213 Total $ 5,751,507 $ 61,622 $ 38,132 $ - $ 5,851,261 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | June 30, 2018 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,338,563 $ 7,316 $ 2,345,879 Real estate - construction 522,788 - 522,788 Real estate - mortgage: Owner-occupied commercial 1,383,210 672 1,383,882 1-4 family mortgage 583,130 1,003 584,133 Other mortgage 1,220,835 5,071 1,225,906 Total real estate mortgage 3,187,175 6,746 3,193,921 Consumer 67,020 41 67,061 Total $ 6,115,546 $ 14,103 $ 6,129,649 December 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,269,642 $ 9,724 $ 2,279,366 Real estate - construction 580,874 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,328,110 556 1,328,666 1-4 family mortgage 602,604 459 603,063 Other mortgage 997,079 - 997,079 Total real estate mortgage 2,927,793 1,015 2,928,808 Consumer 62,127 86 62,213 Total $ 5,840,436 $ 10,825 $ 5,851,261 |
Past Due Financing Receivables [Table Text Block] | June 30, 2018 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 $ 7,259 $ 1,554 $ 431 $ 9,244 $ 6,885 $ 2,329,750 $ 2,345,879 Real estate - construction 2,097 3,182 - 5,279 - 517,509 522,788 Real estate - mortgage: Owner-occupied commercial 3,365 591 250 4,206 422 1,379,254 1,383,882 1-4 family mortgage 919 263 288 1,470 715 581,948 584,133 Other mortgage 1,203 12,941 5,071 19,215 - 1,206,691 1,225,906 Total real estate - mortgage 5,487 13,795 5,609 24,891 1,137 3,167,893 3,193,921 Consumer 316 49 41 406 - 66,655 67,061 Total $ 15,159 $ 18,580 $ 6,081 $ 39,820 $ 8,022 $ 6,081,807 $ 6,129,649 December 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 $ 1,410 $ 5,702 $ 12 $ 7,124 $ 9,712 $ 2,262,530 $ 2,279,366 Real estate - construction 56 997 - 1,053 - 579,821 580,874 Real estate - mortgage: Owner-occupied commercial - 3,664 - 3,664 556 1,324,446 1,328,666 1-4 family mortgage 430 850 - 1,280 459 601,324 603,063 Other mortgage 5,116 - - 5,116 - 991,963 997,079 Total real estate - mortgage 5,546 4,514 - 10,060 1,015 2,917,733 2,928,808 Consumer 131 23 48 202 38 61,973 62,213 Total $ 7,143 $ 11,236 $ 60 $ 18,439 $ 10,765 $ 5,822,057 $ 5,851,261 |
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 June 30, 2018 Allowance for loan losses: Balance at March 31, 2018 $ 35,787 $ 4,138 $ 21,606 $ 519 $ 62,050 Charge-offs (1,732 ) - (440 ) (47 ) (2,219 ) Recoveries 173 97 2 15 287 Provision 1,950 (173 ) 2,270 74 4,121 Balance at June 30, 2018 $ 36,178 $ 4,062 $ 23,438 $ 561 $ 64,239 Three Months Ended June 30, 2017 Allowance for loan losses: Balance at March 31, 2017 $ 28,707 $ 4,825 $ 19,962 $ 398 $ 53,892 Charge-offs (3,067 ) (40 ) (106 ) (33 ) (3,246 ) Recoveries 16 14 2 - 32 Provision 3,471 339 534 37 4,381 Balance at June 30, 2017 $ 29,127 $ 5,138 $ 20,392 $ 402 $ 55,059 Six Months Ended June 30, 2018 Allowance for loan losses: Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 Charge-offs (2,820 ) - (821 ) (135 ) (3,776 ) Recoveries 177 104 44 24 349 Provision 5,941 (1,031 ) 3,193 157 8,260 Balance at June 30, 2018 $ 36,178 $ 4,062 $ 23,438 $ 561 $ 64,239 Six Months Ended June 30, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (5,922 ) (40 ) (372 ) (108 ) (6,442 ) Recoveries 206 30 4 1 241 Provision 5,971 23 3,256 117 9,367 Balance at June 30, 2017 $ 29,127 $ 5,138 $ 20,392 $ 402 $ 55,059 As of June 30, 2018 Allowance for loan losses: Individually Evaluated for Impairment $ 5,423 $ 120 $ 285 $ 49 $ 5,877 Collectively Evaluated for Impairment 30,755 3,942 23,153 512 58,362 Loans: Ending Balance $ 2,345,879 $ 522,788 $ 3,193,921 $ 67,061 $ 6,129,649 Individually Evaluated for Impairment 20,063 1,623 16,240 49 37,975 Collectively Evaluated for Impairment 2,325,816 521,165 3,177,681 67,012 6,091,674 As of December 31, 2017 Allowance for loan losses: Individually Evaluated for Impairment $ 4,276 $ 120 $ 1,163 $ 50 $ 5,609 Collectively Evaluated for Impairment 28,604 4,869 19,859 465 53,797 Loans: Ending Balance $ 2,279,366 $ 580,874 $ 2,928,808 $ 62,213 $ 5,851,261 Individually Evaluated for Impairment 26,447 1,571 12,404 88 40,510 Collectively Evaluated for Impairment 2,252,919 579,303 2,916,404 62,125 5,810,751 |
Impaired Financing Receivables [Table Text Block] | For the three months For the six months ended June 30, ended June 30, June 30, 2018 2018 2018 Interest Interest Unpaid Average Income Average Income Recorded Principal Related Recorded Recognized Recorded Recognized Investment Balance Allowance Investment in Period Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 4,842 $ 5,733 $ - $ 5,257 $ 53 $ 5,611 $ 113 Real estate - construction 626 629 - 629 8 630 16 Real estate - mortgage: Owner-occupied commercial 2,512 2,679 - 2,836 42 2,910 86 1-4 family mortgage 2,258 2,258 - 2,255 23 2,255 48 Other mortgage 5,071 5,071 - 5,082 62 5,098 125 Total real estate - mortgage 9,841 10,008 - 10,173 127 10,263 259 Consumer - - - - - - - Total with no allowance recorded 15,309 16,370 - 16,059 188 16,504 388 With an allowance recorded: Commercial, financial and agricultural 15,221 22,044 5,423 15,200 121 15,542 245 Real estate - construction 997 997 120 997 14 997 28 Real estate - mortgage: Owner-occupied commercial 3,776 3,776 27 3,775 46 3,775 94 1-4 family mortgage 1,237 1,237 178 1,240 12 1,240 26 Other mortgage 1,386 1,386 80 1,540 16 1,700 36 Total real estate - mortgage 6,399 6,399 285 6,555 74 6,715 156 Consumer 49 49 49 49 1 49 1 Total with allowance recorded 22,666 29,489 5,877 22,801 210 23,303 430 Total Impaired Loans: Commercial, financial and agricultural 20,063 27,777 5,423 20,457 174 21,153 358 Real estate - construction 1,623 1,626 120 1,626 22 1,627 44 Real estate - mortgage: Owner-occupied commercial 6,288 6,455 27 6,611 88 6,685 180 1-4 family mortgage 3,495 3,495 178 3,495 35 3,495 74 Other mortgage 6,457 6,457 80 6,622 78 6,798 161 Total real estate - mortgage 16,240 16,407 285 16,728 201 16,978 415 Consumer 49 49 49 49 1 49 1 Total impaired loans $ 37,975 $ 45,859 $ 5,877 $ 38,860 $ 398 $ 39,807 $ 818 December 31, 2017 For the twelve months ended December 31, 2017 Unpaid Average Interest Income Recorded Principal Related Recorded Recognized in Investment Balance Allowance Investment Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 10,036 $ 16,639 $ - $ 16,417 $ 571 Real estate - construction 574 577 - 663 31 Real estate - mortgage: Owner-occupied commercial 2,640 2,806 - 2,875 159 1-4 family mortgage 2,262 2,262 - 2,289 93 Other mortgage 746 746 - 727 44 Total real estate - mortgage 5,648 5,814 - 5,891 296 Consumer 38 39 - 42 3 Total with no allowance recorded 16,296 23,069 - 23,013 901 With an allowance recorded: Commercial, financial and agricultural 16,411 16,992 4,276 17,912 651 Real estate - construction 997 997 120 997 56 Real estate - mortgage: Owner-occupied commercial 3,914 3,914 601 3,801 215 1-4 family mortgage 980 980 281 1,113 54 Other mortgage 1,862 1,862 281 1,862 80 Total real estate - mortgage 6,756 6,756 1,163 6,776 349 Consumer 50 50 50 42 3 Total with allowance recorded 24,214 24,795 5,609 25,727 1,059 Total Impaired Loans: Commercial, financial and agricultural 26,447 33,631 4,276 34,329 1,222 Real estate - construction 1,571 1,574 120 1,660 87 Real estate - mortgage: Owner-occupied commercial 6,554 6,720 601 6,676 374 1-4 family mortgage 3,242 3,242 281 3,402 147 Other mortgage 2,608 2,608 281 2,589 124 Total real estate - mortgage 12,404 12,570 1,163 12,667 645 Consumer 88 89 50 84 6 Total impaired loans $ 40,510 $ 47,864 $ 5,609 $ 48,740 $ 1,960 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 5 $ 7,205 $ 7,205 5 $ 7,205 $ 7,205 Real estate - construction 1 997 997 1 997 997 Real estate - mortgage: Owner-occupied commercial 2 3,664 3,664 2 3,664 3,664 1-4 family mortgage 1 850 850 1 850 850 Other mortgage - - - - - - Total real estate mortgage 3 4,514 4,514 3 4,514 4,514 Consumer - - - - - - 9 $ 12,716 $ 12,716 9 $ 12,716 $ 12,716 |
Note 6 - Employee and Directo24
Note 6 - Employee and Director Benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2018 2017 Expected volatility 24.13 % 29.00 % Expected dividends 1.06 % 0.44 % Expected term (in years) 6.25 6.25 Risk-free rate 2.67 % 2.09 % |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value (In Thousands) Six Months Ended June 30, 2018: Outstanding at January 1, 2018 1,666,834 $ 10.68 5.5 $ 51,377 Granted 12,750 41.50 9.7 (9 ) Exercised (175,836 ) 4.90 3.1 6,317 Forfeited (6,000 ) 19.50 7.7 128 Outstanding at June 30, 2018 1,497,748 11.58 5.3 $ 43,787 Exercisable at June 30, 2018 748,600 $ 7.34 3.9 $ 25,811 Six Months Ended June 30, 2017: Outstanding at January 1, 2017 2,026,334 $ 9.00 6.2 $ 57,636 Granted 51,500 37.95 9.6 (80 ) Exercised (292,000 ) 4.98 4.4 9,169 Forfeited (32,000 ) 21.96 8.6 (462 ) Outstanding at June 30, 2017 1,753,834 10.28 5.9 $ 45,777 Exercisable at June 30, 2017 811,736 $ 5.20 4.4 $ 25,303 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Shares Weighted Six Months Ended June 30, 2018: Non-vested at January 1, 2018 120,676 $ 10.29 Granted 11,850 41.29 Vested (61,700 ) 5.81 Forfeited - - Non-vested at June 30, 2018 70,826 19.38 Six Months Ended June 30, 2017: Non-vested at January 1, 2017 118,676 $ 8.88 Granted 6,000 38.16 Vested (4,200 ) 14.49 Forfeited (800 ) 15.74 Non-vested at June 30, 2017 119,676 9.94 |
Note 10 - Fair Value Measurem25
Note 10 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2018 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 agencies $ - $ 57,111 $ - $ 57,111 Mortgage-backed securities - 314,431 - 314,431 State and municipal securities - 120,531 - 120,531 Corporate debt - 84,951 6,525 91,476 Total assets at fair value $ - $ 577,024 $ 6,525 $ 583,549 Fair Value Measurements at December 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 agencies $ - $ 55,356 $ - $ 55,356 Mortgage-backed securities - 276,498 - 276,498 State and municipal securities - 134,849 - 134,849 Corporate debt - 64,877 6,500 71,377 Total assets at fair value $ - $ 531,580 $ 6,500 $ 538,080 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at June 30, 2018 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 32,098 $ 32,098 Other real estate owned and repossessed assets - - 5,937 5,937 Total assets at fair value $ - $ - $ 38,035 $ 38,035 Fair Value Measurements at December 31, 2017 Quoted Prices in Significant Other Significant Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 34,901 $ 34,901 Other real estate owned and repossessed assets - - 6,701 6,701 Total assets at fair value $ - $ - $ 41,602 $ 41,602 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2018 December 31, 2017 Carrying Carrying Amount Fair Value Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and due from banks $ 150,086 $ 150,086 $ 238,062 $ 238,062 Level 2 inputs: Available for sale debt securities 577,024 577,024 531,580 531,580 Equity securities 993 993 1,034 1,034 Federal funds sold 15,585 15,585 239,524 239,524 Mortgage loans held for sale 4,605 4,605 4,459 4,459 Bank-owned life insurance contracts 129,082 129,082 127,519 127,519 Level 3 Inputs: Available for sale debt securities 6,525 6,525 6,500 6,500 Held to maturity debt securities 250 250 250 250 Loans, net 6,033,312 5,961,354 5,756,954 5,712,441 Financial liabilities: Level 2 inputs: Deposits $ 6,085,682 $ 6,078,286 $ 6,091,674 $ 6,086,085 Federal funds purchased 262,659 262,659 301,797 301,797 Other borrowings 64,648 65,677 64,832 65,921 |
Note 3 - Earnings Per Common 26
Note 3 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted average common shares outstanding (in shares) | 53,150,142 | 52,864,761 | 53,116,420 | 52,805,378 |
Net income available to common stockholders | $ 33,509 | $ 24,133 | $ 66,112 | $ 46,652 |
Basic earnings per common share (in dollars per share) | $ 0.63 | $ 0.46 | $ 1.24 | $ 0.88 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 1,045,881 | 1,235,843 | 1,073,326 | 1,311,694 |
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,196,023 | 54,100,604 | 54,189,746 | 54,117,072 |
Net income available to common stockholders | $ 33,509 | $ 24,133 | $ 66,112 | $ 46,652 |
Diluted earnings per common share (in dollars per share) | $ 0.62 | $ 0.45 | $ 1.22 | $ 0.86 |
Note 4 - Securities (Details Te
Note 4 - Securities (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 80 |
Available for Sale Securities Debt Securities, Number of Positions | 781 |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 |
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 | Jun. 30, 2018 | Dec. 31, 2017 | |
Available for sale, amortized cost | $ 592,675 | $ 538,381 | |
Available for sale, gross unrealized gain | 1,660 | 3,221 | |
Available for sale, gross unrealized loss | (10,786) | (3,522) | |
Available for sale, fair value | 583,549 | 538,080 | |
Held to maturity, amortized cost | 250 | 250 | |
Held to maturity, gross unrealized gain | |||
Held to maturity, gross unrealized loss | |||
Held to maturity debt securities, fair value | 250 | 250 | [1] |
Held to maturity, gross unrealized loss | |||
US Treasury and Government [Member] | |||
Available for sale, amortized cost | 58,072 | 55,567 | |
Available for sale, gross unrealized gain | 4 | 38 | |
Available for sale, gross unrealized loss | (965) | (249) | |
Available for sale, fair value | 57,111 | 55,356 | |
Collateralized Mortgage Backed Securities [Member] | |||
Available for sale, amortized cost | 322,306 | 278,177 | |
Available for sale, gross unrealized gain | 515 | 1,006 | |
Available for sale, gross unrealized loss | (8,390) | (2,685) | |
Available for sale, fair value | 314,431 | 276,498 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale, amortized cost | 120,885 | 134,641 | |
Available for sale, gross unrealized gain | 411 | 761 | |
Available for sale, gross unrealized loss | (765) | (553) | |
Available for sale, fair value | 120,531 | 134,849 | |
Held to maturity, amortized cost | 250 | 250 | |
Held to maturity, gross unrealized gain | |||
Held to maturity, gross unrealized loss | |||
Held to maturity debt securities, fair value | 250 | 250 | |
Held to maturity, gross unrealized loss | |||
Corporate Debt Securities [Member] | |||
Available for sale, amortized cost | 91,412 | 69,996 | |
Available for sale, gross unrealized gain | 730 | 1,416 | |
Available for sale, gross unrealized loss | (666) | (35) | |
Available for sale, fair value | $ 91,476 | $ 71,377 | |
[1] | derived from audited financial statements |
Note 4 - Securities - Amortiz29
Note 4 - Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Available for sale, amortized cost | $ 592,675 | $ 538,381 | |
Available for sale, fair value | 583,549 | 538,080 | |
Held to maturity, amortized cost | 250 | 250 | |
Held to maturity debt securities, fair value | 250 | 250 | [1] |
Due Within One Year [Member] | |||
Available for sale, amortized cost | 47,313 | 22,122 | |
Available for sale, fair value | 47,336 | 22,172 | |
Due from One to Five Years [Member] | |||
Available for sale, amortized cost | 202,998 | 160,773 | |
Available for sale, fair value | 201,448 | 160,563 | |
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 | 17,584 | 73,362 | |
Available for sale, fair value | 17,767 | 74,684 | |
Due After Ten Years [Member] | |||
Available for sale, amortized cost | 2,474 | 3,947 | |
Available for sale, fair value | 2,567 | 4,163 | |
Collateralized Mortgage Backed Securities [Member] | |||
Available for sale, amortized cost | 322,306 | 278,177 | |
Available for sale, fair value | $ 314,431 | $ 276,498 | |
[1] | derived from audited financial statements |
Note 4 - Securities - Investmen
Note 4 - Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Less Than Twelve Months, Gross Unrealized Losses | $ (7,332) | $ (1,622) |
Less Than Twelve Months, Fair Value | 388,376 | 247,425 |
Twelve Months or More, Gross Unrealized Losses | (3,454) | (1,900) |
Twelve Months or More, Fair Value | 78,113 | 85,477 |
Total, Gross Unrealized Losses | (10,786) | (3,522) |
Total, Fair Value | 466,489 | 332,902 |
US Treasury and Government [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (809) | (151) |
Less Than Twelve Months, Fair Value | 54,065 | 33,401 |
Twelve Months or More, Gross Unrealized Losses | (156) | (98) |
Twelve Months or More, Fair Value | 2,866 | 2,926 |
Total, Gross Unrealized Losses | (965) | (249) |
Total, Fair Value | 56,931 | 36,327 |
Collateralized Mortgage Backed Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (5,255) | (986) |
Less Than Twelve Months, Fair Value | 228,217 | 140,432 |
Twelve Months or More, Gross Unrealized Losses | (3,135) | (1,699) |
Twelve Months or More, Fair Value | 67,375 | 75,903 |
Total, Gross Unrealized Losses | (8,390) | (2,685) |
Total, Fair Value | 295,592 | 216,335 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (602) | (450) |
Less Than Twelve Months, Fair Value | 66,356 | 66,637 |
Twelve Months or More, Gross Unrealized Losses | (163) | (103) |
Twelve Months or More, Fair Value | 7,872 | 6,648 |
Total, Gross Unrealized Losses | (765) | (553) |
Total, Fair Value | 74,228 | 73,285 |
Corporate Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (666) | (35) |
Less Than Twelve Months, Fair Value | 39,738 | 6,955 |
Twelve Months or More, Gross Unrealized Losses | ||
Twelve Months or More, Fair Value | ||
Total, Gross Unrealized Losses | (666) | (35) |
Total, Fair Value | $ 39,738 | $ 6,955 |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications, Recorded Investment | $ 17.3 | $ 16.4 | $ 17.3 | $ 16.4 | $ 20.6 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 3.6 | $ 3.1 | $ 4.3 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 9 | 0 | 9 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 300,000 | 0 | 300,000 | 0 |
Note 5 - Loans - Summary of Loa
Note 5 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Financing receivable, gross | $ 6,129,649 | $ 5,851,261 | |||||
Less allowance for loan losses | (64,239) | $ (62,050) | (59,406) | [1] | $ (55,059) | $ (53,892) | $ (51,893) |
Net Loans | $ 6,065,410 | $ 5,791,855 | [1] | ||||
Financing receivable, gross, percentage | 100.00% | 100.00% | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Financing receivable, gross | $ 2,345,879 | $ 2,279,366 | |||||
Less allowance for loan losses | $ (36,178) | (35,787) | $ (32,880) | (29,127) | (28,707) | (28,872) | |
Financing receivable, gross, percentage | 38.27% | 38.96% | |||||
Real Estate Portfolio Segment[Member] | |||||||
Financing receivable, gross | $ 3,193,921 | $ 2,928,808 | |||||
Financing receivable, gross, percentage | 52.11% | 50.05% | |||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Financing receivable, gross | $ 522,788 | $ 580,874 | |||||
Less allowance for loan losses | $ (4,062) | (4,138) | $ (4,989) | (5,138) | (4,825) | (5,125) | |
Financing receivable, gross, percentage | 8.53% | 9.93% | |||||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||||||
Financing receivable, gross | $ 1,383,882 | $ 1,328,666 | |||||
Financing receivable, gross, percentage | 22.58% | 22.71% | |||||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||||||
Financing receivable, gross | $ 584,133 | $ 603,063 | |||||
Financing receivable, gross, percentage | 9.53% | 10.30% | |||||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||||||
Financing receivable, gross | $ 1,225,906 | $ 997,079 | |||||
Financing receivable, gross, percentage | 20.00% | 17.04% | |||||
Consumer Portfolio Segment [Member] | |||||||
Financing receivable, gross | $ 67,061 | $ 62,213 | |||||
Less allowance for loan losses | $ (561) | $ (519) | $ (515) | $ (402) | $ (398) | $ (392) | |
Financing receivable, gross, percentage | 1.09% | 1.06% | |||||
[1] | derived from audited financial statements |
Note 5 - Loans - Loans by Credi
Note 5 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing receivable, gross | $ 6,129,649 | $ 5,851,261 |
Pass [Member] | ||
Financing receivable, gross | 6,025,395 | 5,751,507 |
Special Mention [Member] | ||
Financing receivable, gross | 68,583 | 61,622 |
Substandard [Member] | ||
Financing receivable, gross | 35,671 | 38,132 |
Doubtful [Member] | ||
Financing receivable, gross | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,345,879 | 2,279,366 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 2,289,789 | 2,225,084 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 36,027 | 27,835 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 20,063 | 26,447 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 3,193,921 | 2,928,808 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 522,788 | 580,874 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,383,882 | 1,328,666 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 584,133 | 603,063 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,225,906 | 997,079 |
Real Estate Portfolio Segment[Member] | Pass [Member] | ||
Financing receivable, gross | 3,153,054 | 2,891,683 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 515,543 | 572,657 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,369,814 | 1,317,113 |
Real Estate Portfolio Segment[Member] | Pass [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 579,288 | 598,222 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,203,952 | 976,348 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | ||
Financing receivable, gross | 26,889 | 27,054 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 5,664 | 6,691 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 10,042 | 7,333 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,350 | 1,599 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 15,497 | 18,122 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | ||
Financing receivable, gross | 13,978 | 10,071 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 1,581 | 1,526 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 4,026 | 4,220 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 3,495 | 3,242 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 6,457 | 2,609 |
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 | 67,061 | 62,213 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 67,009 | 62,083 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 3 | 42 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 49 | 88 |
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 | Jun. 30, 2018 | Dec. 31, 2017 |
Financing receivable, gross | $ 6,129,649 | $ 5,851,261 |
Performing Financial Instruments [Member] | ||
Financing receivable, gross | 6,115,546 | 5,840,436 |
Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 14,103 | 10,825 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,345,879 | 2,279,366 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,338,563 | 2,269,642 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 7,316 | 9,724 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 3,193,921 | 2,928,808 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 522,788 | 580,874 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,383,882 | 1,328,666 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 584,133 | 603,063 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,225,906 | 997,079 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 3,187,175 | 2,927,793 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 522,788 | 580,874 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,383,210 | 1,328,110 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 583,130 | 602,604 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,220,835 | 997,079 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 6,746 | 1,015 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 672 | 556 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,003 | 459 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 5,071 | |
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 67,061 | 62,213 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 67,020 | 62,127 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | $ 41 | $ 86 |
Note 5 - Loans - Loans Categori
Note 5 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Accrual loans, past due | $ 39,820 | $ 18,439 | |
Non-accrual | 8,022 | 10,765 | |
Current | 6,081,807 | 5,822,057 | |
Loans | 6,129,649 | 5,851,261 | [1] |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 15,159 | 7,143 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 18,580 | 11,236 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 6,081 | 60 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accrual loans, past due | 9,244 | 7,124 | |
Non-accrual | 6,885 | 9,712 | |
Current | 2,329,750 | 2,262,530 | |
Loans | 2,345,879 | 2,279,366 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 7,259 | 1,410 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 1,554 | 5,702 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 431 | 12 | |
Real Estate Portfolio Segment[Member] | |||
Accrual loans, past due | 24,891 | 10,060 | |
Non-accrual | 1,137 | 1,015 | |
Current | 3,167,893 | 2,917,733 | |
Loans | 3,193,921 | 2,928,808 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Accrual loans, past due | 5,279 | 1,053 | |
Non-accrual | |||
Current | 517,509 | 579,821 | |
Loans | 522,788 | 580,874 | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 4,206 | 3,664 | |
Non-accrual | 422 | 556 | |
Current | 1,379,254 | 1,324,446 | |
Loans | 1,383,882 | 1,328,666 | |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Accrual loans, past due | 1,470 | 1,280 | |
Non-accrual | 715 | 459 | |
Current | 581,948 | 601,324 | |
Loans | 584,133 | 603,063 | |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 19,215 | 5,116 | |
Non-accrual | |||
Current | 1,206,691 | 991,963 | |
Loans | 1,225,906 | 997,079 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 5,487 | 5,546 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 2,097 | 56 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 3,365 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 919 | 430 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 1,203 | 5,116 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 13,795 | 4,514 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Accrual loans, past due | 3,182 | 997 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | |||
Accrual loans, past due | 591 | 3,664 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | |||
Accrual loans, past due | 263 | 850 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 12,941 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | 5,609 | ||
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 | 250 | ||
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 | 288 | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | |||
Accrual loans, past due | 5,071 | ||
Consumer Portfolio Segment [Member] | |||
Accrual loans, past due | 406 | 202 | |
Non-accrual | 38 | ||
Current | 66,655 | 61,973 | |
Loans | 67,061 | 62,213 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accrual loans, past due | 316 | 131 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accrual loans, past due | 49 | 23 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accrual loans, past due | $ 41 | $ 48 | |
[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 | 6 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |||
Balance, beginning of period | $ 62,050 | $ 53,892 | $ 59,406 | [1] | $ 51,893 | ||
Charge-offs | (2,219) | (3,246) | (3,776) | (6,442) | |||
Recoveries | 287 | 32 | 349 | 241 | |||
Provision | 4,121 | 4,381 | 8,260 | 9,367 | |||
Balance, end of period | 64,239 | 55,059 | 64,239 | 55,059 | |||
Individually Evaluated for Impairment | 5,877 | 5,877 | $ 5,609 | ||||
Collectively Evaluated for Impairment | 58,362 | 58,362 | 53,797 | ||||
Ending Balance | 6,129,649 | 6,129,649 | 5,851,261 | [1] | |||
Individually Evaluated for Impairment | 37,975 | 37,975 | 40,510 | ||||
Collectively Evaluated for Impairment | 6,091,674 | 6,091,674 | 5,810,751 | ||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Balance, beginning of period | 35,787 | 28,707 | 32,880 | 28,872 | |||
Charge-offs | (1,732) | (3,067) | (2,820) | (5,922) | |||
Recoveries | 173 | 16 | 177 | 206 | |||
Provision | 1,950 | 3,471 | 5,941 | 5,971 | |||
Balance, end of period | 36,178 | 29,127 | 36,178 | 29,127 | |||
Individually Evaluated for Impairment | 5,423 | 5,423 | 4,276 | ||||
Collectively Evaluated for Impairment | 30,755 | 30,755 | 28,604 | ||||
Ending Balance | 2,345,879 | 2,345,879 | 2,279,366 | ||||
Individually Evaluated for Impairment | 20,063 | 20,063 | 26,447 | ||||
Collectively Evaluated for Impairment | 2,325,816 | 2,325,816 | 2,252,919 | ||||
Real Estate Portfolio Segment[Member] | |||||||
Ending Balance | 3,193,921 | 3,193,921 | 2,928,808 | ||||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||||||
Balance, beginning of period | 4,138 | 4,825 | 4,989 | 5,125 | |||
Charge-offs | (40) | (40) | |||||
Recoveries | 97 | 14 | 104 | 30 | |||
Provision | (173) | 339 | (1,031) | 23 | |||
Balance, end of period | 4,062 | 5,138 | 4,062 | 5,138 | |||
Individually Evaluated for Impairment | 120 | 120 | 120 | ||||
Collectively Evaluated for Impairment | 3,942 | 3,942 | 4,869 | ||||
Ending Balance | 522,788 | 522,788 | 580,874 | ||||
Individually Evaluated for Impairment | 1,623 | 1,623 | 1,571 | ||||
Collectively Evaluated for Impairment | 521,165 | 521,165 | 579,303 | ||||
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||||||
Balance, beginning of period | 21,606 | 19,962 | 21,022 | 17,504 | |||
Charge-offs | (440) | (106) | (821) | (372) | |||
Recoveries | 2 | 2 | 44 | 4 | |||
Provision | 2,270 | 534 | 3,193 | 3,256 | |||
Balance, end of period | 23,438 | 20,392 | 23,438 | 20,392 | |||
Individually Evaluated for Impairment | 285 | 285 | 1,163 | ||||
Collectively Evaluated for Impairment | 23,153 | 23,153 | 19,859 | ||||
Ending Balance | 3,193,921 | 3,193,921 | 2,928,808 | ||||
Individually Evaluated for Impairment | 16,240 | 16,240 | 12,404 | ||||
Collectively Evaluated for Impairment | 3,177,681 | 3,177,681 | 2,916,404 | ||||
Consumer Portfolio Segment [Member] | |||||||
Balance, beginning of period | 519 | 398 | 515 | 392 | |||
Charge-offs | (47) | (33) | (135) | (108) | |||
Recoveries | 15 | 24 | 1 | ||||
Provision | 74 | 37 | 157 | 117 | |||
Balance, end of period | 561 | $ 402 | 561 | $ 402 | |||
Individually Evaluated for Impairment | 49 | 49 | 50 | ||||
Collectively Evaluated for Impairment | 512 | 512 | 465 | ||||
Ending Balance | 67,061 | 67,061 | 62,213 | ||||
Individually Evaluated for Impairment | 49 | 49 | 88 | ||||
Collectively Evaluated for Impairment | $ 67,012 | $ 67,012 | $ 62,125 | ||||
[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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Recorded investment, with no allowance | $ 15,309 | $ 15,309 | $ 16,296 |
Unpaid principal balance, with no allowance | 16,370 | 16,370 | 23,069 |
Average recorded investment, with no allowance | 16,059 | 16,504 | 23,013 |
Interest income recognized in period, with no allowance | 188 | 388 | 901 |
Recorded investment, with an allowance | 22,666 | 22,666 | 24,214 |
Unpaid principal balance, with an allowance | 29,489 | 29,489 | 24,795 |
Related allowance | 5,877 | 5,877 | 5,609 |
Average recorded investment, with an allowance | 22,801 | 23,303 | 25,727 |
Interest income recognized in period, with an allowance | 210 | 430 | 1,059 |
Recorded investment | 37,975 | 37,975 | 40,510 |
Unpaid principal balance | 45,859 | 45,859 | 47,864 |
Average recorded investment | 38,860 | 39,807 | 48,740 |
Interest income recognized in period | 398 | 818 | 1,960 |
Commercial Real Estate Portfolio Segment [Member] | |||
Recorded investment, with no allowance | 4,842 | 4,842 | 10,036 |
Unpaid principal balance, with no allowance | 5,733 | 5,733 | 16,639 |
Average recorded investment, with no allowance | 5,257 | 5,611 | 16,417 |
Interest income recognized in period, with no allowance | 53 | 113 | 571 |
Recorded investment, with an allowance | 15,221 | 15,221 | 16,411 |
Unpaid principal balance, with an allowance | 22,044 | 22,044 | 16,992 |
Related allowance | 5,423 | 5,423 | 4,276 |
Average recorded investment, with an allowance | 15,200 | 15,542 | 17,912 |
Interest income recognized in period, with an allowance | 121 | 245 | 651 |
Recorded investment | 20,063 | 20,063 | 26,447 |
Unpaid principal balance | 27,777 | 27,777 | 33,631 |
Average recorded investment | 20,457 | 21,153 | 34,329 |
Interest income recognized in period | 174 | 358 | 1,222 |
Real Estate Portfolio Segment[Member] | |||
Recorded investment, with no allowance | 9,841 | 9,841 | 5,648 |
Unpaid principal balance, with no allowance | 10,008 | 10,008 | 5,814 |
Average recorded investment, with no allowance | 10,173 | 10,263 | 5,891 |
Interest income recognized in period, with no allowance | 127 | 259 | 296 |
Recorded investment, with an allowance | 6,399 | 6,399 | 6,756 |
Unpaid principal balance, with an allowance | 6,399 | 6,399 | 6,756 |
Related allowance | 285 | 285 | 1,163 |
Average recorded investment, with an allowance | 6,555 | 6,715 | 6,776 |
Interest income recognized in period, with an allowance | 74 | 156 | 349 |
Recorded investment | 16,240 | 16,240 | 12,404 |
Unpaid principal balance | 16,407 | 16,407 | 12,570 |
Average recorded investment | 16,728 | 16,978 | 12,667 |
Interest income recognized in period | 201 | 415 | 645 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Recorded investment, with no allowance | 626 | 626 | 574 |
Unpaid principal balance, with no allowance | 629 | 629 | 577 |
Average recorded investment, with no allowance | 629 | 630 | 663 |
Interest income recognized in period, with no allowance | 8 | 16 | 31 |
Recorded investment, with an allowance | 997 | 997 | 997 |
Unpaid principal balance, with an allowance | 997 | 997 | 997 |
Related allowance | 120 | 120 | 120 |
Average recorded investment, with an allowance | 997 | 997 | 997 |
Interest income recognized in period, with an allowance | 14 | 28 | 56 |
Recorded investment | 1,623 | 1,623 | 1,571 |
Unpaid principal balance | 1,626 | 1,626 | 1,574 |
Average recorded investment | 1,626 | 1,627 | 1,660 |
Interest income recognized in period | 22 | 44 | 87 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | |||
Recorded investment, with no allowance | 2,512 | 2,512 | 2,640 |
Unpaid principal balance, with no allowance | 2,679 | 2,679 | 2,806 |
Average recorded investment, with no allowance | 2,836 | 2,910 | 2,875 |
Interest income recognized in period, with no allowance | 42 | 86 | 159 |
Recorded investment, with an allowance | 3,776 | 3,776 | 3,914 |
Unpaid principal balance, with an allowance | 3,776 | 3,776 | 3,914 |
Related allowance | 27 | 27 | 601 |
Average recorded investment, with an allowance | 3,775 | 3,775 | 3,801 |
Interest income recognized in period, with an allowance | 46 | 94 | 215 |
Recorded investment | 6,288 | 6,288 | 6,554 |
Unpaid principal balance | 6,455 | 6,455 | 6,720 |
Average recorded investment | 6,611 | 6,685 | 6,676 |
Interest income recognized in period | 88 | 180 | 374 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | |||
Recorded investment, with no allowance | 2,258 | 2,258 | 2,262 |
Unpaid principal balance, with no allowance | 2,258 | 2,258 | 2,262 |
Average recorded investment, with no allowance | 2,255 | 2,255 | 2,289 |
Interest income recognized in period, with no allowance | 23 | 48 | 93 |
Recorded investment, with an allowance | 1,237 | 1,237 | 980 |
Unpaid principal balance, with an allowance | 1,237 | 1,237 | 980 |
Related allowance | 178 | 178 | 281 |
Average recorded investment, with an allowance | 1,240 | 1,240 | 1,113 |
Interest income recognized in period, with an allowance | 12 | 26 | 54 |
Recorded investment | 3,495 | 3,495 | 3,242 |
Unpaid principal balance | 3,495 | 3,495 | 3,242 |
Average recorded investment | 3,495 | 3,495 | 3,402 |
Interest income recognized in period | 35 | 74 | 147 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | |||
Recorded investment, with no allowance | 5,071 | 5,071 | 746 |
Unpaid principal balance, with no allowance | 5,071 | 5,071 | 746 |
Average recorded investment, with no allowance | 5,082 | 5,098 | 727 |
Interest income recognized in period, with no allowance | 62 | 125 | 44 |
Recorded investment, with an allowance | 1,386 | 1,386 | 1,862 |
Unpaid principal balance, with an allowance | 1,386 | 1,386 | 1,862 |
Related allowance | 80 | 80 | 281 |
Average recorded investment, with an allowance | 1,540 | 1,700 | 1,862 |
Interest income recognized in period, with an allowance | 16 | 36 | 80 |
Recorded investment | 6,457 | 6,457 | 2,608 |
Unpaid principal balance | 6,457 | 6,457 | 2,608 |
Average recorded investment | 6,622 | 6,798 | 2,589 |
Interest income recognized in period | 78 | 161 | 124 |
Consumer Portfolio Segment [Member] | |||
Recorded investment, with no allowance | 38 | ||
Unpaid principal balance, with no allowance | 39 | ||
Average recorded investment, with no allowance | 42 | ||
Interest income recognized in period, with no allowance | 3 | ||
Recorded investment, with an allowance | 49 | 49 | 50 |
Unpaid principal balance, with an allowance | 49 | 49 | 50 |
Related allowance | 49 | 49 | 50 |
Average recorded investment, with an allowance | 49 | 49 | 42 |
Interest income recognized in period, with an allowance | 1 | 1 | 3 |
Recorded investment | 49 | 49 | 88 |
Unpaid principal balance | 49 | 49 | 89 |
Average recorded investment | 49 | 49 | 84 |
Interest income recognized in period | $ 1 | $ 1 | $ 6 |
Note 5 - Loans - Trouble Debt R
Note 5 - Loans - Trouble Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017USD ($) | Jun. 30, 2018 | Jun. 30, 2017USD ($) | |
Number of Contracts | 0 | 9 | 0 | 9 |
Pre- Modification Outstanding Recorded Investment | $ 12,716 | $ 12,716 | ||
Post- Modification Outstanding Recorded Investment | $ 12,716 | $ 12,716 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Number of Contracts | 5 | 5 | ||
Pre- Modification Outstanding Recorded Investment | $ 7,205 | $ 7,205 | ||
Post- Modification Outstanding Recorded Investment | $ 7,205 | $ 7,205 | ||
Real Estate Portfolio Segment[Member] | ||||
Number of Contracts | 3 | 3 | ||
Pre- Modification Outstanding Recorded Investment | $ 4,514 | $ 4,514 | ||
Post- Modification Outstanding Recorded Investment | $ 4,514 | $ 4,514 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre- Modification Outstanding Recorded Investment | $ 997 | $ 997 | ||
Post- Modification Outstanding Recorded Investment | $ 997 | $ 997 | ||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Number of Contracts | 2 | 2 | ||
Pre- Modification Outstanding Recorded Investment | $ 3,664 | $ 3,664 | ||
Post- Modification Outstanding Recorded Investment | $ 3,664 | $ 3,664 | ||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Number of Contracts | 1 | 1 | ||
Pre- Modification Outstanding Recorded Investment | $ 850 | $ 850 | ||
Post- Modification Outstanding Recorded Investment | $ 850 | $ 850 | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Number of Contracts | ||||
Pre- Modification Outstanding Recorded Investment | ||||
Post- Modification Outstanding Recorded Investment | ||||
Consumer Portfolio Segment [Member] | ||||
Number of Contracts | ||||
Pre- Modification Outstanding Recorded Investment | ||||
Post- Modification Outstanding Recorded Investment |
Note 6 - Employee and Directo39
Note 6 - Employee and Director Benefits (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2006 | |
Share-based Compensation, Total | $ 244,000 | $ 285,000 | $ 482,000 | $ 622,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 10.95 | $ 11.84 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | 1,695,000 | $ 1,695,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 146 days | ||||
Restricted Stock [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 811,000 | $ 811,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 292 days | ||||
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 | 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] | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Expected volatility | 24.13% | 29.00% |
Expected dividends | 1.06% | 0.44% |
Expected term (in years) (Year) | 6 years 91 days | 6 years 91 days |
Risk-free rate | 2.67% | 2.09% |
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 | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding, shares (in shares) | 2,026,334 | 1,666,834 | 2,026,334 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 9 | $ 10.68 | $ 9 | |
Outstanding, weighted average remaining contractual term (Year) | 5 years 328 days | 5 years 109 days | 5 years 182 days | 6 years 73 days |
Outstanding, aggregate intrinsic value | $ 45,777 | $ 43,787 | $ 51,377 | $ 57,636 |
Granted (in shares) | 51,500 | 12,750 | ||
Granted, weighted average exercise price (in dollars per share) | $ 37.95 | $ 41.50 | ||
Granted, weighted average remaining contractual term (Year) | 9 years 219 days | 9 years 255 days | ||
Granted, aggregate intrinsic value | $ (80) | $ (9) | ||
Exercised (in shares) | (292,000) | (175,836) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 4.98 | $ 4.90 | ||
Exercised, weighted average remaining contractual term (Year) | 4 years 146 days | 3 years 36 days | ||
Exercised, aggregate intrinsic value | $ 9,169 | $ 6,317 | ||
Forfeited (in shares) | (32,000) | (6,000) | ||
Forfeited, weighted average exercise price (in dollars per share) | $ 21.96 | $ 19.50 | ||
Forfeited, weighted average remaining contractual term (Year) | 8 years 219 days | 7 years 255 days | ||
Forfeited, aggregate intrinsic value | $ (462) | $ 128 | ||
Outstanding, shares (in shares) | 1,753,834 | 1,497,748 | 1,666,834 | 2,026,334 |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.28 | $ 11.58 | $ 10.68 | $ 9 |
Exercisable, shares (in shares) | 811,736 | 748,600 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 5.20 | $ 7.34 | ||
Exercisable, weighted average remaining contractual term (Year) | 4 years 146 days | 3 years 328 days | ||
Exercisable, aggregate intrinsic value | $ 25,303 | $ 25,811 |
Note 6 - Employee and Directo42
Note 6 - Employee and Director Benefits - Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Non-vested (in shares) | 120,676 | 118,676 |
Non-vested (in dollars per share) | $ 10.29 | $ 8.88 |
Granted (in shares) | 11,850 | 6,000 |
Granted (in dollars per share) | $ 41.29 | $ 38.16 |
Vested (in shares) | (61,700) | (4,200) |
Vested (in dollars per share) | $ 5.81 | $ 14.49 |
Forfeited (in shares) | (800) | |
Forfeited (in dollars per share) | $ 15.74 | |
Non-vested (in shares) | 70,826 | 119,676 |
Non-vested (in dollars per share) | $ 19.38 | $ 9.94 |
Note 8 - Recently Adopted Acc43
Note 8 - Recently Adopted Accounting Pronouncements (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total | $ (7,178,000) | $ (198,000) | [1] | |
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Adjustments for New Accounting Principle, Early Adoption [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total | $ (43,000) | |||
[1] | derived from audited financial statements |
Note 10 - Fair Value Measurem44
Note 10 - Fair Value Measurement (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Asset Impairment Charges, Total | $ 1,543,000 | $ 2,329,000 | $ 3,888,000 | $ 5,307,000 | |
Real Estate Owned, Amount of Loss at Acquisition | 99,000 | $ 83,000 | 353,000 | $ 53,000 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 176,000 | $ 0 | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 360,000 | $ 360,000 |
Note 10 - Fair Value Measurem45
Note 10 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Available for sale debt securities | $ 583,549 | $ 538,080 | [1] |
Fair Value, Measurements, Recurring [Member] | |||
Available for sale debt securities | 583,549 | 538,080 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 577,024 | 531,580 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | 6,525 | 6,500 | |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | |||
Available for sale debt securities | 57,111 | 55,356 | |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 57,111 | 55,356 | |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | |||
Available for sale debt securities | 314,431 | 276,498 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 314,431 | 276,498 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Available for sale debt securities | 120,531 | 134,849 | |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 120,531 | 134,849 | |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
Available for sale debt securities | 91,476 | 71,377 | |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available for sale debt securities | |||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 84,951 | 64,877 | |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | $ 6,525 | $ 6,500 | |
[1] | derived from audited financial statements |
Note 10 - Fair Value Measurem46
Note 10 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Impaired loans | $ 32,098 | $ 34,901 |
Other real estate owned and repossessed assets | 5,937 | 6,701 |
Total assets at fair value | 38,035 | 41,602 |
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 | 32,098 | 34,901 |
Other real estate owned and repossessed assets | 5,937 | 6,701 |
Total assets at fair value | $ 38,035 | $ 41,602 |
Note 10 - Fair Value Measurem47
Note 10 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Cash and due from banks | $ 68,344 | $ 86,213 | [1] |
Available for sale debt securities | 583,549 | 538,080 | [1] |
Equity securities | 993 | 1,034 | [1] |
Federal funds sold | 15,585 | 239,524 | [1] |
Mortgage loans held for sale | 4,605 | 4,459 | [1] |
Bank-owned life insurance contracts | 129,082 | 127,519 | [1] |
Held to maturity debt securities | 250 | 250 | [1] |
Net Loans | 6,065,410 | 5,791,855 | [1] |
Federal funds purchased | 262,659 | 301,797 | [1] |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 150,086 | 238,062 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 577,024 | 531,580 | |
Equity securities | 993 | 1,034 | |
Federal funds sold | 15,585 | 239,524 | |
Mortgage loans held for sale | 4,605 | 4,459 | |
Bank-owned life insurance contracts | 129,082 | 127,519 | |
Deposits | 6,085,682 | 6,091,674 | |
Federal funds purchased | 262,659 | 301,797 | |
Other borrowings | 64,648 | 64,832 | |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | 6,525 | 6,500 | |
Held to maturity debt securities | 250 | 250 | |
Net Loans | 6,033,312 | 5,756,954 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 150,086 | 238,062 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available for sale debt securities | 577,024 | 531,580 | |
Equity securities | 993 | 1,034 | |
Federal funds sold | 15,585 | 239,524 | |
Mortgage loans held for sale | 4,605 | 4,459 | |
Bank-owned life insurance contracts | 129,082 | 127,519 | |
Deposits | 6,078,286 | 6,086,085 | |
Federal funds purchased | 262,659 | 301,797 | |
Other borrowings | 65,677 | 65,921 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available for sale debt securities | 6,525 | 6,500 | |
Held to maturity debt securities | 250 | 250 | |
Net Loans | $ 5,961,354 | $ 5,712,441 | |
[1] | derived from audited financial statements |