Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | ATLANTIC CAPITAL BANCSHARES, INC. | |
Entity Central Index Key | 1,461,755 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 25,661,631 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 45,008 | $ 36,790 |
Interest-bearing deposits in banks | 36,171 | 118,039 |
Other short-term investments | 17,459 | 10,896 |
Cash and cash equivalents | 98,638 | 165,725 |
Securities available-for-sale | 450,273 | 347,705 |
Other investments | 26,741 | 23,806 |
Loans held for sale | 1,744 | 35,219 |
Loans held for investment | 1,962,091 | 1,981,330 |
Less: allowance for loan losses | (21,870) | (20,595) |
Loans held for investment, net | 1,940,221 | 1,960,735 |
Branch premises held for sale | 0 | 2,995 |
Premises and equipment, net | 11,997 | 11,958 |
Bank owned life insurance | 62,901 | 62,160 |
Goodwill and intangible assets, net | 28,446 | 29,567 |
Other real estate owned | 1,819 | 1,872 |
Other assets | 79,795 | 85,801 |
Total assets | 2,702,575 | 2,727,543 |
Deposits: | ||
Noninterest-bearing demand | 612,744 | 643,471 |
Interest-bearing checking | 250,254 | 264,062 |
Savings | 30,170 | 27,932 |
Money market | 882,824 | 912,493 |
Time | 142,915 | 157,810 |
Brokered deposits | 195,047 | 200,223 |
Total deposits | 2,113,954 | 2,205,991 |
Deposits to be assumed in branch sale | 0 | 31,589 |
Federal funds purchased and securities sold under agreements to repurchase | 15,000 | 0 |
Federal Home Loan Bank borrowings | 180,000 | 110,000 |
Long-term debt | 49,451 | 49,366 |
Other liabilities | 24,735 | 26,939 |
Total liabilities | 2,383,140 | 2,423,885 |
SHAREHOLDERS’ EQUITY | ||
Preferred Stock, no par value – 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2017 and December 31, 2016 | 0 | 0 |
Common stock, no par value – 100,000,000 shares authorized; 25,654,521 and 25,093,135 shares issued and outstanding as of June 30, 2017, and December 31, 2016, respectively | 297,610 | 292,747 |
Retained earnings | 24,095 | 16,536 |
Accumulated other comprehensive (loss) income | (2,270) | (5,625) |
Total shareholders’ equity | 319,435 | 303,658 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 2,702,575 | $ 2,727,543 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock issued (in shares) | 0 | 0 |
Preferred stock outstanding (in shares) | 0 | 0 |
Common stock authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock issued (in shares) | 25,654,521 | 25,093,135 |
Common stock outstanding (in shares) | 25,654,521 | 25,093,135 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
INTEREST INCOME | ||||
Loans, including fees | $ 21,361 | $ 20,282 | $ 41,355 | $ 39,907 |
Investment securities – available-for-sale | 2,355 | 1,327 | 4,373 | 2,928 |
Interest and dividends on other interest-earning assets | 606 | 507 | 1,055 | 780 |
Total interest income | 24,322 | 22,116 | 46,783 | 43,615 |
INTEREST EXPENSE | ||||
Interest on deposits | 2,481 | 1,841 | 4,528 | 3,514 |
Interest on Federal Home Loan Bank advances | 452 | 147 | 754 | 191 |
Interest on federal funds purchased and securities sold under agreements to repurchase | 76 | 87 | 112 | 154 |
Interest on long-term debt | 824 | 832 | 1,647 | 1,642 |
Other | 0 | 0 | 0 | 38 |
Total interest expense | 3,833 | 2,907 | 7,041 | 5,539 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 20,489 | 19,209 | 39,742 | 38,076 |
Provision for loan losses | 1,980 | 777 | 2,614 | 1,145 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 18,509 | 18,432 | 37,128 | 36,931 |
NONINTEREST INCOME | ||||
Service charges | 1,274 | 1,392 | 2,623 | 2,890 |
Gain on sales of securities available-for-sale | 0 | 11 | 0 | 44 |
Gain on sales of other assets | 666 | 31 | 744 | 79 |
Mortgage income | 388 | 447 | 645 | 786 |
Trust income | 488 | 386 | 895 | 700 |
Derivatives income | 116 | 98 | 65 | 163 |
Bank owned life insurance | 384 | 398 | 762 | 791 |
SBA lending activities | 1,171 | 1,204 | 2,398 | 2,084 |
TriNet lending activities | 20 | 761 | 40 | 1,144 |
Gains on sale of branches | 302 | 3,885 | 302 | 3,885 |
Other noninterest income | 478 | 267 | 670 | 734 |
Total noninterest income | 5,287 | 8,880 | 9,144 | 13,300 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 10,603 | 10,420 | 21,668 | 20,975 |
Occupancy | 1,074 | 1,274 | 2,304 | 2,374 |
Equipment and software | 996 | 724 | 1,801 | 1,410 |
Professional services | 973 | 760 | 1,877 | 1,508 |
Postage, printing and supplies | 78 | 159 | 163 | 328 |
Communications and data processing | 1,069 | 694 | 2,056 | 1,610 |
Marketing and business development | 179 | 317 | 449 | 584 |
FDIC premiums | 132 | 493 | 446 | 891 |
Merger and conversion costs | 304 | 1,210 | 304 | 1,959 |
Amortization of intangibles | 425 | 668 | 895 | 1,430 |
Foreclosed property/problem asset expense | 107 | 55 | 110 | 159 |
Other noninterest expense | 1,683 | 2,169 | 3,294 | 3,981 |
Total noninterest expense | 17,623 | 18,943 | 35,367 | 37,209 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 6,173 | 8,369 | 10,905 | 13,022 |
Provision for income taxes | 1,844 | 3,222 | 3,346 | 4,944 |
NET INCOME | $ 4,329 | $ 5,147 | $ 7,559 | $ 8,078 |
NET INCOME PER SHARE: | ||||
Net income per share – basic (in dollars per share) | $ 0.17 | $ 0.21 | $ 0.30 | $ 0.33 |
Net income per share – diluted (in dollars per share) | $ 0.17 | $ 0.20 | $ 0.29 | $ 0.32 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 4,329 | $ 5,147 | $ 7,559 | $ 8,078 |
Unrealized gains (losses) on available-for-sale securities: | ||||
Unrealized holding gains arising during the period, net of tax of $1,951, $1,043, $2,178, and $2,683, respectively | 3,118 | 1,660 | 3,482 | 4,295 |
Reclassification adjustment for gains included in net income net of tax of $0, ($4), $0, and ($17), respectively | 0 | (7) | 0 | (27) |
Unrealized gains on available-for-sale securities, net of tax | 3,118 | 1,653 | 3,482 | 4,268 |
Cash flow hedges: | ||||
Net unrealized derivative gains (losses) on cash flow hedges, net of tax of $12, $106, ($79), and $470, respectively | 19 | 169 | (127) | 742 |
Changes from cash flow hedges | 19 | 169 | (127) | 742 |
Other comprehensive income, net of tax | 3,137 | 1,822 | 3,355 | 5,010 |
Comprehensive income | $ 7,466 | $ 6,969 | $ 10,914 | $ 13,088 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized holding gains arising during the period, net of tax | $ 1,951 | $ 1,043 | $ 2,178 | $ 2,683 |
Reclassification adjustment for gains (losses) included in net income net of tax | 0 | (4) | 0 | (17) |
Net unrealized derivative (losses) gains on cash flow hedges, net of tax | $ 12 | $ 106 | $ (79) | $ 470 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands | Total | Common Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Beginning balance (in shares) at Dec. 31, 2015 | 24,425,546 | |||
Accumulated other comprehensive income (loss) beginning of period at Dec. 31, 2015 | $ 287,992 | $ 286,367 | $ 3,141 | $ (1,516) |
Comprehensive income: | ||||
Net income | 8,078 | 8,078 | ||
Change in unrealized gains on investment securities available-for-sale, net | 4,268 | 4,268 | ||
Change in unrealized gains (losses) on cash flow hedges | 742 | 742 | ||
Comprehensive income | 13,088 | |||
Issuance of restricted stock (in shares) | 61,884 | |||
Issuance of common stock for option exercises (in shares) | 196,584 | |||
Issuance of common stock for option exercises | 1,349 | $ 1,349 | ||
Issuance of common stock for long-term incentive plan (in shares) | 66,149 | |||
Issuance of common stock for long-term incentive plan | 884 | $ 884 | ||
Restricted stock activity | 307 | 307 | ||
Stock-based compensation | 446 | $ 446 | ||
Ending balance (in shares) at Jun. 30, 2016 | 24,750,163 | |||
Accumulated other comprehensive income (loss) end of period at Jun. 30, 2016 | 304,066 | $ 289,353 | 11,219 | 3,494 |
Accumulated other comprehensive income (loss) beginning of period at Mar. 31, 2016 | 1,672 | |||
Comprehensive income: | ||||
Net income | 5,147 | |||
Change in unrealized gains on investment securities available-for-sale, net | 1,653 | |||
Change in unrealized gains (losses) on cash flow hedges | 169 | |||
Comprehensive income | 6,969 | |||
Ending balance (in shares) at Jun. 30, 2016 | 24,750,163 | |||
Accumulated other comprehensive income (loss) end of period at Jun. 30, 2016 | $ 304,066 | $ 289,353 | 11,219 | 3,494 |
Beginning balance (in shares) at Dec. 31, 2016 | 25,093,135 | 25,093,135 | ||
Accumulated other comprehensive income (loss) beginning of period at Dec. 31, 2016 | $ 303,658 | $ 292,747 | 16,536 | (5,625) |
Comprehensive income: | ||||
Net income | 7,559 | 7,559 | ||
Change in unrealized gains on investment securities available-for-sale, net | 3,482 | 3,482 | ||
Change in unrealized gains (losses) on cash flow hedges | (127) | (127) | ||
Comprehensive income | $ 10,914 | |||
Issuance of restricted stock (in shares) | 61,715 | |||
Issuance of common stock for option exercises (in shares) | 694,984 | 437,872 | ||
Issuance of common stock for option exercises | $ 2,901 | $ 2,901 | ||
Issuance of common stock for long-term incentive plan (in shares) | 61,799 | |||
Issuance of common stock for long-term incentive plan | 1,209 | $ 1,209 | ||
Restricted stock activity | 473 | 473 | ||
Stock-based compensation | $ 280 | $ 280 | ||
Ending balance (in shares) at Jun. 30, 2017 | 25,654,521 | 25,654,521 | ||
Accumulated other comprehensive income (loss) end of period at Jun. 30, 2017 | $ 319,435 | $ 297,610 | 24,095 | (2,270) |
Accumulated other comprehensive income (loss) beginning of period at Mar. 31, 2017 | (5,407) | |||
Comprehensive income: | ||||
Net income | 4,329 | |||
Change in unrealized gains on investment securities available-for-sale, net | 3,118 | |||
Change in unrealized gains (losses) on cash flow hedges | 19 | |||
Comprehensive income | $ 7,466 | |||
Ending balance (in shares) at Jun. 30, 2017 | 25,654,521 | 25,654,521 | ||
Accumulated other comprehensive income (loss) end of period at Jun. 30, 2017 | $ 319,435 | $ 297,610 | $ 24,095 | $ (2,270) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
OPERATING ACTIVITIES | ||
Net income | $ 7,559 | $ 8,078 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 2,614 | 1,145 |
Depreciation, amortization, and accretion | 2,757 | 2,960 |
Amortization of restricted stock compensation | 473 | 307 |
Stock option compensation | 280 | 446 |
Gain on sales of available-for-sale securities | 0 | (44) |
Loss on disposition of premises and equipment, net | 347 | 0 |
Net gains on sales of other real estate owned | (222) | (64) |
Gain on sale of tax credit | (426) | 0 |
Net increase in cash value of bank owned life insurance | (741) | (770) |
Net gains on sale of branches | (302) | (3,885) |
Origination of servicing assets | (593) | (967) |
Proceeds from sales of SBA loans | 27,239 | 26,975 |
Net gains on sale of SBA loans | (1,901) | (1,893) |
Proceeds from sales of TriNet loans | 0 | 97,039 |
Net gains on sale of TriNet loans | 0 | (1,144) |
Changes in operating assets and liabilities - | ||
Net change in loans held for sale | 9,117 | (29,480) |
Net (increase) decrease in other assets | 7,827 | 1,038 |
Net increase (decrease) in accrued expenses and other liabilities | 9,983 | 7,525 |
Net cash provided by operating activities | 64,011 | 107,266 |
Activity in securities available-for-sale: | ||
Prepayments | 22,563 | 21,147 |
Maturities and calls | 1,690 | 20,932 |
Sales | 0 | 65,103 |
Purchases | (121,417) | (77,270) |
Net increase in loans held for investment | (7,872) | (213,434) |
Purchases of Federal Home Loan Bank stock, net | (3,059) | (11,544) |
Purchases of Federal Reserve Bank stock, net | (91) | (3,055) |
Proceeds from sales of other real estate | 709 | 1,146 |
Net cash received (paid) for branch divestiture | 5,379 | (140,295) |
Purchases of premises and equipment, net | (1,183) | (417) |
Net cash used in investing activities | (103,281) | (337,687) |
FINANCING ACTIVITIES | ||
Net change in deposits | (101,062) | 86,334 |
Proceeds from Federal Home Loan Bank advances | 1,049,000 | 570,000 |
Repayments of Federal Home Loan Bank advances | (979,000) | (330,000) |
Proceeds from exercise of stock options | 3,245 | 1,446 |
Net cash (used in) provided by financing activities | (27,817) | 327,780 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (67,087) | 97,359 |
CASH AND CASH EQUIVALENTS – beginning of period | 165,725 | 202,885 |
CASH AND CASH EQUIVALENTS – end of period | 98,638 | 300,244 |
SUPPLEMENTAL SCHEDULE OF CASH FLOWS | ||
Interest paid | 7,420 | 5,772 |
Income taxes paid | $ 230 | $ (2,372) |
Accounting Policies and Basis o
Accounting Policies and Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Accounting Policies and Basis of Presentation | ACCOUNTING POLICIES AND BASIS OF PRESENTATION Basis of Presentation The accounting and financial reporting policies of Atlantic Capital Bancshares, Inc. (“Atlantic Capital” or the “Company”) and its subsidiary conform to accounting principles generally accepted in the United States of America (“GAAP”) and general banking industry practices. The accompanying interim consolidated financial statements have not been audited. All material intercompany balances and transactions have been eliminated. In management’s opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments are normal and recurring accruals considered necessary for a fair and accurate presentation. The accompanying consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Atlantic Capital’s filing on Form 10-K. The results for interim periods are not necessarily indicative of results for the full year or any other interim periods. Certain prior period amounts have been reclassified to conform to the current year presentation. |
Accounting Standards Updates an
Accounting Standards Updates and Recently Adopted Standards | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Standards Updates and Recently Adopted Standards | ACCOUNTING STANDARDS UPDATES AND RECENTLY ADOPTED STANDARDS In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-09 - “ Compensation - Stock Compensation (Topic 718): Scope and Modification Accounting .” The amendments in this ASU provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in accordance with Topic 718. The amendments will be effective for interim and annual reporting periods beginning after December 15, 2017. This ASU is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-08 “ Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.” This guidance shortens the premium amortization period for certain callable debt securities by requiring amortization to the earliest call date. The standard is effective for public companies for annual and interim periods beginning after December 15, 2020. The adoption of this update is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ,” which intends to simplify goodwill impairment testing by eliminating the second step of the analysis under which the implied fair value of goodwill is determined as if the reporting unit were being acquired in a business combination. The update instead requires entities to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for any amount by which the carrying amount exceeds the reporting unit’s fair value, to the extent that the loss recognized does not exceed the amount of goodwill allocated to that reporting unit. ASU 2017-04 must be applied prospectively and is effective for the Company on January 1, 2020. Early adoption is permitted. Atlantic Capital does not expect the new guidance to have a material impact on its financial condition or results of operation. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide guidance on the following eight specific cash flow issues: 1) debt prepayment or debt extinguishment costs; 2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; 3) contingent consideration payments made after a business combination; 4) proceeds from the settlement of insurance claims; 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; 6) distributions received from equity method investees; 7) beneficial interests in securitization transactions; and 8) separately identifiable cash flows and application of the predominance principle. The amendments are effective for public companies for fiscal years beginning after December 31, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. As this guidance only affects the classification within the statement of cash flows, this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13 “ Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments. ” ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for public companies for annual periods beginning after December 13, 2019, including interim periods within those fiscal years. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Atlantic Capital is in the process of evaluating the impact of the adoption of ASU 2016-13 on the Company’s consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amendments in ASU 2016-09 simplify several aspects of accounting for employee share-based payments including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas of the simplification apply only to nonpublic entities. The new guidance will require all income tax effects of awards to be recognized as income tax expense or benefit in the income statement when the awards vest or are settled and additional paid in capital pools will be eliminated. The guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Companies will be required to account for forfeitures of share-based payments by recognizing forfeitures of awards as they occur or estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as currently required, through an accounting policy election. The guidance will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s income tax withholding obligation. The guidance requires an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. ASU 2016-09 became effective for the Company on January 1, 2017 and did not have a material effect on its financial position or results of operations. In February 2016, the FASB issued ASU 2016-2, Leases . Under the new guidance, leases classified as operating leases under previous GAAP must be recorded on the balance sheet. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition, and provides for certain practical expedients. Atlantic Capital is evaluating the significance and other effects of adoption on the consolidated financial statements and related disclosures. In January 2016, the FASB issued ASU 2016-1, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities . The guidance in this update requires that equity investments (except those accounting for under the equity method of accounting) be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The guidance also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. In addition, the guidance addresses various disclosure and presentation issues related to financial instruments. For public entities, this update is effective for fiscal years beginning after December 15, 2017 with early application permitted. The adoption of this update is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . This update is a joint project with the International Accounting Standards Board initiated to clarify the principles for recognizing revenue and to develop a common revenue standard that is meant to remove inconsistencies and weaknesses in revenue requirements, provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices, provide more useful information to users of financial statements and simplify the preparation of financial statements. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public companies, this guidance is effective for annual and interim periods beginning after December 15, 2017. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities, Atlantic Capital does not expect this ASU to have a material impact on net interest income and securities gains. Atlantic Capital completed an initial evaluation of the impact to other revenue streams such as service charges and trust income, and believes the most significant changes will be related to disclosures. |
Acquisitions and Divestitures
Acquisitions and Divestitures | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES On October 31, 2015, Atlantic Capital completed the acquisition of First Security Group, Inc. (“First Security”). First Security operated twenty-five branches in Georgia and Tennessee. In connection with the acquisition, Atlantic Capital acquired approximately $801.1 million of loans and assumed approximately $970.0 million of deposits. Acquisition-related costs totaled $304,000 for the three and six months ended June 30, 2017, respectively, and $1.2 million and $2.0 million for the three and six months ended June 30, 2016, respectively, and were included in noninterest expense in the consolidated income statement. Acquisition related costs primarily include severance costs, professional services, data processing fees related to systems conversion and other noninterest expenses. Divestiture of Branches On December 17, 2015, Atlantic Capital Bank, N.A. (the “Bank”) entered into two separate definitive agreements to sell seven branches in the Tennessee market. The agreement with First Freedom Bank included the sale of three branches located in Algood, Cookeville and Gainesboro, Tennessee for a premium of 2.25% of deposits. The agreement with Athens Federal Community Bank, N.A. included the sale of four branches in Athens, Lenoir City, Madisonville and Sweetwater, Tennessee for a premium of 3.50% of deposits. Both transactions closed in the second quarter of 2016 and resulted in a combined gain of $3.9 million as well as a reduction of approximately $191.0 million in deposits, approximately $34.7 million in loans and approximately $8.6 million in other assets. The gain was somewhat reduced by an impairment of $2.0 million in core deposit intangibles, which was offset by a $344,000 reversal in time deposit premium. There were also $305,000 of expenses associated with the divestitures included in noninterest expense in the second quarter of 2016. On December 9, 2016, Atlantic Capital entered into a definitive agreement to sell one branch in Cleveland, Tennessee, to SmartBank. The sale closed in the second quarter of 2017, and resulted in a net gain of $302,000 as well as a reduction of approximately $21.9 million in deposits and approximately $27.3 million in loans and other assets. The gross gain of $533,000 was reduced by an impairment of $337,000 in core deposit intangibles, which was offset by a $106,000 reversal in time deposit premium. There were also $38,000 of expenses associated with the divestiture included in noninterest expense in the second quarter of 2017. |
Balance Sheet Offsetting
Balance Sheet Offsetting | 6 Months Ended |
Jun. 30, 2017 | |
Offsetting [Abstract] | |
Balance Sheet Offsetting | BALANCE SHEET OFFSETTING Atlantic Capital enters into reverse repurchase agreements in order to invest short-term funds. Atlantic Capital enters into repurchase agreements for short-term financing needs. The following table presents a summary of amounts outstanding under reverse repurchase agreements, repurchase agreements, and derivative financial instruments including those entered into in connection with the same counterparty under master netting agreements as of June 30, 2017 and December 31, 2016 . While these agreements are typically over-collateralized, U.S. GAAP requires disclosures in this table to limit the amount of such collateral to the amount of the related recognized asset or liability for each counterparty. (in thousands) Gross Amounts not Offset in the Balance Sheet June 30, 2017 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 17,459 $ — $ 17,459 $ (17,459 ) $ — $ — Derivatives 4,150 — 4,150 — — 4,150 Total $ 21,609 $ — $ 21,609 $ (17,459 ) $ — $ 4,150 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,244 — 4,244 (2,929 ) (1,315 ) — Total $ 4,244 $ — $ 4,244 $ (2,929 ) $ (1,315 ) $ — Gross Amounts not Offset in the Balance Sheet December 31, 2016 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 10,896 $ — $ 10,896 $ (10,896 ) $ — $ — Derivatives 4,310 — 4,310 — — 4,310 Total $ 15,206 $ — $ 15,206 $ (10,896 ) $ — $ 4,310 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,131 — 4,131 (1,818 ) (2,313 ) — Total $ 4,131 $ — $ 4,131 $ (1,818 ) $ (2,313 ) $ — |
Securities
Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | SECURITIES The following table presents the amortized cost, unrealized gains and losses, and fair value of securities available-for-sale at June 30, 2017 and December 31, 2016 . Available-For-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2017 Debt securities— U.S. Government agencies $ 35,299 $ 105 $ (279 ) $ 35,125 U.S. states and political divisions 97,502 316 (3,650 ) 94,168 Trust preferred securities 4,741 — (53 ) 4,688 Corporate debt securities 19,777 119 (676 ) 19,220 Residential mortgage-backed securities 296,934 3,117 (2,979 ) 297,072 Total $ 454,253 $ 3,657 $ (7,637 ) $ 450,273 December 31, 2016 Debt securities— U.S. Government agencies $ 21,485 $ 24 $ (357 ) $ 21,152 U.S. states and political divisions 96,908 141 (6,877 ) 90,172 Trust preferred securities 4,727 — (202 ) 4,525 Corporate debt securities 19,928 72 (769 ) 19,231 Residential mortgage-backed securities 214,297 2,689 (4,361 ) 212,625 Total $ 357,345 $ 2,926 $ (12,566 ) $ 347,705 The following table presents the amortized cost and fair value of debt securities by contractual maturity at June 30, 2017 . Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-For-Sale Amortized Cost Fair Value (in thousands) Within 1 year $ 4,140 $ 4,141 Over 1 year through 5 years 17,642 17,472 5 years to 10 years 60,990 60,448 Over 10 years 74,547 71,140 157,319 153,201 Residential mortgage-backed securities 296,934 297,072 Total $ 454,253 $ 450,273 The following table summarizes available-for-sale securities in an unrealized loss position as of June 30, 2017 and December 31, 2016 . Less than 12 months 12 months or greater Totals Available-For-Sale Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) June 30, 2017 U.S. Government agencies $ 24,547 $ (207 ) 2,673 $ (72 ) $ 27,220 $ (279 ) U.S. states and political divisions 75,219 (3,552 ) 3,136 (98 ) 78,355 (3,650 ) Trust preferred securities — — 4,688 (53 ) 4,688 (53 ) Corporate debt securities — — 5,869 (676 ) 5,869 (676 ) Residential mortgage-backed securities 106,559 (1,356 ) 69,728 (1,623 ) 176,287 (2,979 ) Totals $ 206,325 $ (5,115 ) $ 86,094 $ (2,522 ) $ 292,419 $ (7,637 ) December 31, 2016 U.S. Government agencies $ 12,250 $ (263 ) $ 2,881 $ (94 ) $ 15,131 $ (357 ) U.S. states and political divisions 87,511 (6,877 ) — — 87,511 (6,877 ) Trust preferred securities — — 4,525 (202 ) 4,525 (202 ) Corporate debt securities 7,886 (769 ) — — 7,886 (769 ) Residential mortgage-backed securities 151,406 (3,231 ) 32,550 (1,130 ) 183,956 (4,361 ) Totals $ 259,053 $ (11,140 ) $ 39,956 $ (1,426 ) $ 299,009 $ (12,566 ) At June 30, 2017 , there were 248 available-for-sale securities that were in an unrealized loss position. Atlantic Capital does not intend to sell and does not believe it will be required to sell securities in an unrealized loss position prior to the recovery of their amortized cost basis. Unrealized losses at June 30, 2017 and December 31, 2016 were attributable to changes in interest rates. Management evaluates securities for other-than-temporary impairment on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, among other factors. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and industry analysts’ reports. No impairment charges were recognized during the three or six months ended June 30, 2017 or 2016 . Realized gains and losses are derived using the specific identification method for determining the cost of securities sold. The following table summarizes securities sales activity for the three and six months ended June 30, 2017 and 2016 . Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Proceeds from sales $ — $ 60,150 $ — $ 65,103 Gross realized gains — 416 — 449 Gross realized losses — (405 ) — (405 ) Net gains on sales of securities $ — $ 11 $ — $ 44 Investment securities with a carrying value of $99.3 million and $104.9 million were pledged to secure public funds and other borrowings at June 30, 2017 and December 31, 2016 , respectively. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Allowance for Loan Losses | LOANS AND ALLOWANCE FOR LOAN LOSSES The composition of the loan portfolio as of June 30, 2017 and December 31, 2016 , is summarized below. June 30, December 31, (in thousands) Loans held for sale Branch loans held for sale $ — $ 30,917 Other loans held for sale 1,744 4,302 Total loans held for sale $ 1,744 $ 35,219 Loans held for investment Commercial loans: Commercial and industrial $ 578,888 $ 531,061 Commercial real estate 982,875 858,778 Construction and land 125,058 219,352 Mortgage warehouse participations 47,992 147,519 Total commercial loans 1,734,813 1,756,710 Residential: Residential mortgages 101,798 101,921 Home equity 79,769 77,358 Total residential loans 181,567 179,279 Consumer 31,981 27,338 Other 18,013 21,565 Total loans 1,966,374 1,984,892 Less net deferred fees and other unearned income (4,283 ) (3,562 ) Less allowance for loan losses (21,870 ) (20,595 ) Loans held for investment, net $ 1,940,221 $ 1,960,735 At June 30, 2017 and December 31, 2016 , loans with a carrying value of $458.9 million and $474.8 million , respectively, were pledged as collateral to secure FHLB advances and the Federal Reserve discount window. At June 30, 2017 , the carrying value and outstanding balance of Purchased Credit Impaired (“PCI”) loans accounted for under ASC 310-30 was $11.5 million and $14.5 million , respectively. At December 31, 2016 , the carrying value and outstanding balance of PCI loans accounted for under ASC 310-30 was $15.3 million and $18.7 million , respectively. The following table presents changes in the value of the accretable yield for acquired loans accounted for under ASC 310-30. For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 (in thousands) Balance at beginning of period $ 3,369 $ 2,088 $ 3,467 $ 2,369 Additions due to acquisitions — — — — Accretion (334 ) (262 ) (779 ) (543 ) Reclassification of nonaccretable discount due to improvement in expected cash flows 92 — 344 — Other changes, net 3 — 98 — Balance at end of period $ 3,130 $ 1,826 $ 3,130 $ 1,826 In addition to the accretable yield on PCI loans, the fair value adjustments on purchased loans outside the scope of ASC 310-30 are also accreted to interest income over the life of the loans. At June 30, 2017 , the remaining accretable fair value discount on loans acquired through a business combination and not accounted for under ASC 310-30 was $3.0 million compared to $3.9 million at December 31, 2016 . The allowance for loan losses represents management’s estimate of probable incurred losses in the loan portfolio as of the end of the period. It is comprised of specific reserves for impaired loans and a general allowance for pools of loans with similar characteristics not individually evaluated. The allowance is regularly evaluated for loan losses to maintain an adequate level to absorb probable current inherent losses in the loan portfolio. Factors contributing to the determination of the allowance include the credit worthiness of the borrower, changes in the value of pledged collateral, and general economic conditions. Most loan commitments rated substandard or worse are specifically reviewed for loss potential. For loans deemed to be impaired, a specific allocation is assigned based on the losses expected to be realized from those loans. The following table presents the balance and activity in the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2017 and 2016 . 2017 2016 Three Months Ended June 30, Commercial Residential Consumer Total Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Beginning balance $ 18,101 $ 1,406 $ 432 $ 19,939 $ 15,613 $ 1,502 $ 493 $ 17,608 Provision for loan losses 2,582 (540 ) (62 ) 1,980 861 (88 ) 4 777 Loans charged-off — (8 ) (57 ) (65 ) (5 ) (25 ) (38 ) (68 ) Recoveries 9 2 5 16 — — 60 60 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 $ 16,469 $ 1,389 $ 519 $ 18,377 2017 2016 Six Months Ended June 30, Commercial Residential Consumer Total Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Beginning balance $ 18,717 $ 1,418 $ 460 $ 20,595 $ 16,537 $ 1,981 $ 387 $ 18,905 Provision for loan losses 2,879 (506 ) 241 2,614 1,525 (567 ) 187 1,145 Loans charged-off (913 ) (54 ) (389 ) (1,356 ) (1,610 ) (25 ) (184 ) (1,819 ) Recoveries 9 2 6 17 17 — 129 146 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 $ 16,469 $ 1,389 $ 519 $ 18,377 The general component of the allowance for loan losses is based on the incurred losses inherent in the portfolio. The loss factors are determined through the generation of probabilities of default (“PDs”) and losses given default (“LGDs”) for groups of similar loans with similar credit grades where Loss Rate = PD x LGD. The PDs and LGDs for the loan portfolio are calculated based on Atlantic Capital’s loss history as well as available market-based data. The loss factor for each pool of loans is adjusted based on Qualitative and Environmental factors to account for conditions in the current environment which management believes are likely to cause a difference between the calculated loss based on historical performance and the incurred loss in the existing portfolio. These factors include: changes in policies and procedures, changes in the economy, changes in nature or volume of the portfolio and in the terms of loans, changes in lending management, changes in past dues and credit migration, changes in the loan review system, changes in the value of collateral and concentration risk and changes in external factors, such as competition, legal and regulatory. On a quarterly basis, management evaluates these factors in order to determine an adjustment unique to Atlantic Capital and its market. Charge-offs are recognized when the amount of the loss is quantifiable and timing is known. Collateral based loan charge-offs are measured based on the difference between the loan’s carrying value, including deferred fees, and the estimated net realizable value of the loan. When assessing property value for the purpose of determining a charge-off, a third-party appraisal or an independently derived internal evaluation is generally employed. A loan is considered to be impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”) and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. A specific allowance is established for individually evaluated impaired loans as needed. Reserves on impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the observable market price, or the fair value of the underlying collateral of the loan if the loan is collateral dependent. Atlantic Capital’s policy is to place loans on nonaccrual status, when, in the opinion of management, the principal and interest on a loan is not likely to be repaid in accordance with the loan terms or when the loan becomes 90 days past due and is not both well secured and in the process of collection. When a loan is classified on nonaccrual status, interest previously accrued but not collected is reversed against current interest revenue. Principal and interest payments received on a nonaccrual loan are applied to reduce outstanding principal. PCI loans are considered past due or delinquent when the contractual principal or interest due in accordance with the terms of the loan agreement remains unpaid after the due date of the scheduled payment. Loans accounted for under ASC 310-30 were not classified as nonaccrual at June 30, 2017 or December 31, 2016 , as the carrying value of the respective loan or pool of loans’ cash flows were considered estimable and collection was probable. Therefore, interest revenue, through accretion of the difference between the carrying value of the loans and the expected cash flows (accretable yield), is being recognized on all acquired loans being accounted for under ASC 310-30. The balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method is presented in the following table as of June 30, 2017 and December 31, 2016 . June 30, 2017 Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans Individually evaluated for impairment $ 3,249 $ — $ — $ 3,249 Collectively evaluated for impairment 17,370 860 316 18,546 PCI 73 — 2 75 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 Loans: Loans individually evaluated for impairment $ 16,931 $ 868 $ — $ 17,799 Loans collectively evaluated for impairment 1,709,411 177,669 49,985 1,937,065 PCI 8,471 3,030 9 11,510 Total ending loans balance $ 1,734,813 $ 181,567 $ 49,994 $ 1,966,374 December 31, 2016 Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans Individually evaluated for impairment $ 2,626 $ 58 $ — $ 2,684 Collectively evaluated for impairment 16,018 1,360 459 17,837 PCI 73 — 1 74 Total ending allowance balance $ 18,717 $ 1,418 $ 460 $ 20,595 Loans: Loans individually evaluated for impairment $ 13,687 $ 398 $ — $ 14,085 Loans collectively evaluated for impairment 1,732,324 174,338 48,892 1,955,554 PCI 10,699 4,543 11 15,253 Total ending loans balance $ 1,756,710 $ 179,279 $ 48,903 $ 1,984,892 The following tables present information on Atlantic Capital’s impaired loans for the three and six months ended June 30, 2017 and 2016 : For the Three Months Ended June 30, 2017 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment (in thousands) Impaired loans with no related allowance recorded: Commercial and industrial $ 4,962 $ 4,899 $ — $ 4,866 $ 13 $ 2,843 $ 2,843 $ — $ 2,811 $ 36 Commercial real estate 2,494 2,331 — 2,361 20 557 416 — 413 21 Construction and land — — — — — — — — — — Residential mortgages 380 334 — 340 — — — — — — Home equity 534 534 — 541 — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 8,370 $ 8,098 $ — $ 8,108 $ 33 $ 3,400 $ 3,259 $ — $ 3,224 $ 57 Impaired loans with an allowance recorded: Commercial and industrial $ 9,122 $ 9,122 $ 3,106 $ 9,160 $ 138 $ 78 $ 78 $ 390 $ 78 $ — Commercial real estate 579 579 143 582 6 1,659 1,659 261 1,659 6 Construction and land — — — — — — — — — — Residential mortgages — — — — — — — — — — Home equity — — — — — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 9,701 $ 9,701 $ 3,249 $ 9,742 $ 144 $ 1,737 $ 1,737 $ 651 $ 1,737 $ 6 Total impaired loans $ 18,071 $ 17,799 $ 3,249 $ 17,850 $ 177 $ 5,137 $ 4,996 $ 651 $ 4,961 $ 63 For the Six Months Ended June 30, 2017 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment (in thousands) Impaired loans with no related allowance recorded: Commercial and industrial $ 4,962 $ 4,899 $ — $ 5,346 $ 30 $ 2,843 $ 2,843 $ — $ 2,774 $ 72 Commercial real estate 2,494 2,331 — 2,439 20 557 416 — 413 21 Construction and land — — — — — — — — — — Residential mortgages 380 334 — 366 — — — — — — Home equity 534 534 — 541 — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 8,370 $ 8,098 $ — $ 8,692 $ 50 $ 3,400 $ 3,259 $ — $ 3,187 $ 93 Impaired loans with an allowance recorded: Commercial and industrial $ 9,122 $ 9,122 $ 3,106 $ 9,200 $ 246 $ 78 $ 78 $ 390 $ 78 $ — Commercial real estate 579 579 143 585 13 1,659 1,659 261 1,659 27 Construction and land — — — — — — — — — — Residential mortgages — — — — — — — — — — Home equity — — — — — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 9,701 $ 9,701 $ 3,249 $ 9,785 $ 259 $ 1,737 $ 1,737 $ 651 $ 1,737 $ 27 Total impaired loans $ 18,071 $ 17,799 $ 3,249 $ 18,477 $ 309 $ 5,137 $ 4,996 $ 651 $ 4,924 $ 120 Atlantic Capital evaluates loans in accordance with ASC 310-40, Troubled Debt Restructurings by Creditors. TDRs are loans in which Atlantic Capital has modified the terms or granted an economic concession to a borrower who is experiencing financial difficulties. These modifications may include interest rate reductions, term extensions and other concessions intended to minimize losses. As of June 30, 2017 and December 31, 2016 , the Company had a recorded investment in TDRs of $6.1 million and $6.6 million , respectively. The Company had commitments to lend additional funds of $483,000 and $387,000 on loans modified as TDRs, as of June 30, 2017 and December 31, 2016 , respectively. During the three and six months ended June 30, 2017 , the modification of terms for one Home Equity loan included a short term extension of the maturity date. The Company did not modify any new loans as a TDR during the three and six months ended June 30, 2016 . There were no subsequent defaults on prior TDRs. Atlantic Capital individually rates loans based on internal credit risk ratings using numerous factors, including thorough analysis of historical and expected cash flows, consumer credit risk scores (FICO scores), rating agency information, LTV ratios, collateral, collection experience, and other internal metrics. Atlantic Capital uses a dual rating system. The likelihood of default of a credit transaction is graded in the Obligor Rating. The risk of loss given default is graded in the Facility Rating. The Obligor Rating is determined through credit analysis. Facility Ratings are used to describe the value to the Company that the collateral represents. Facility Ratings are based on the collateral package or market expectations regarding the value or liquidity of the collateral. Ratings are generally reviewed at least annually or more frequently if there is a material change in creditworthiness. Exceptions to this policy may include well collateralized term loans and loans to individuals with limited exposure or complexity. Atlantic Capital uses the following definitions for risk ratings: Pass: Loans that are analyzed individually as part of the above described process and that do not meet the criteria of special mention, substandard or doubtful. Special Mention: Loans classified as special mention have a potential weakness that requires management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. As of June 30, 2017 and December 31, 2016 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows. Pass Special Mention Substandard Accruing Substandard Nonaccruing Doubtful Total (in thousands) June 30, 2017 Commercial and industrial $ 529,268 $ 4,882 $ 32,249 $ 8,235 $ — $ 574,634 Commercial real estate 964,573 7,254 4,961 2,310 — 979,098 Construction and land 119,876 4,722 — 20 — 124,618 Residential mortgages 96,824 1,407 959 631 — 99,821 Home equity 77,461 42 500 713 — 78,716 Mortgage warehouse 47,992 — — — — 47,992 Consumer/Other 49,682 97 206 — — 49,985 Total loans, excluding PCI loans $ 1,885,676 $ 18,404 $ 38,875 $ 11,909 $ — $ 1,954,864 Commercial and industrial $ 3,200 $ 272 $ 782 $ — $ — $ 4,254 Commercial real estate 3,099 250 306 — 122 3,777 Construction and land 396 7 37 — — 440 Residential mortgages 117 902 958 — — 1,977 Home equity 33 649 371 — — 1,053 Mortgage warehouse — — — — — — Consumer/Other 1 1 7 — — 9 Total PCI loans $ 6,846 $ 2,081 $ 2,461 $ — $ 122 $ 11,510 Pass Special Mention Substandard Accruing Substandard Nonaccruing Doubtful Total (in thousands) December 31, 2016 Commercial and industrial $ 494,617 $ 3,160 $ 26,399 $ 3 $ 471 $ 524,650 Commercial real estate 843,924 5,513 5,571 — — 855,008 Construction and land 213,981 4,789 64 — — 218,834 Residential mortgages 97,660 586 747 147 — 99,140 Home equity 75,031 168 397 — — 75,596 Mortgage warehouse 147,519 — — — — 147,519 Consumer/Other 48,680 190 22 — — 48,892 Total loans, excluding PCI loans $ 1,921,412 $ 14,406 $ 33,200 $ 150 $ 471 $ 1,969,639 Commercial and industrial $ 4,650 $ 299 $ 614 $ — $ 848 $ 6,411 Commercial real estate 477 240 2,716 — 337 3,770 Construction and land 229 8 281 — — 518 Residential mortgages 59 1,232 1,016 — 474 2,781 Home equity 364 834 564 — — 1,762 Mortgage warehouse — — — — — — Consumer/Other 1 — 10 — — 11 Total PCI loans $ 5,780 $ 2,613 $ 5,201 $ — $ 1,659 $ 15,253 Atlantic Capital monitors loans by past due status. The following table presents the aging of the recorded investment in past due loans as of June 30, 2017 and December 31, 2016 by class of loans. As of June 30, 2017 Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing PCI Loans Total (in thousands) Loans by Classification Commercial and industrial $ 565,802 $ 472 $ 125 $ 8,235 $ 4,254 $ 578,888 Commercial real estate 976,640 — 148 2,310 3,777 982,875 Construction and land 124,598 — — 20 440 125,058 Residential mortgages 98,851 261 78 631 1,977 101,798 Home equity 77,963 — 40 713 1,053 79,769 Mortgage warehouse 47,992 — — — — 47,992 Consumer 49,984 1 — — 9 49,994 Total Loans $ 1,941,830 $ 734 $ 391 $ 11,909 $ 11,510 $ 1,966,374 As of December 31, 2016 Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing PCI Loans Total (in thousands) Loans by Classification Commercial and industrial $ 520,908 $ 3,079 $ 189 $ 474 $ 6,411 $ 531,061 Commercial real estate 852,626 2,382 — — 3,770 858,778 Construction and land 218,290 544 — — 518 219,352 Residential mortgages 97,901 664 428 147 2,781 101,921 Home equity 74,420 884 292 — 1,762 77,358 Mortgage warehouse 147,519 — — — — 147,519 Consumer 48,558 249 85 — 11 48,903 Total Loans $ 1,960,222 $ 7,802 $ 994 $ 621 $ 15,253 $ 1,984,892 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS The carrying amount of goodwill and other intangible assets as of June 30, 2017 and December 31, 2016 is summarized below: June 30, December 31, 2017 2016 (in thousands) Core deposit intangible $ 9,544 $ 9,544 Less: accumulated amortization (3,866 ) (2,971 ) Less: impairment related to divested branches (2,286 ) (1,949 ) Core deposit intangible, net 3,392 4,624 Servicing assets, net 3,295 3,184 Total other intangibles, net 6,687 7,808 Goodwill 21,759 21,759 Total goodwill and other intangible assets, net $ 28,446 $ 29,567 During the six months ended June 30, 2017 and 2016, Atlantic Capital recorded measurement period adjustments that decreased goodwill by $0 and $906,000 , respectively. The adjustments reduced the TriNet servicing asset, increased the book value of securities available-for-sale, and increased the deferred tax asset. There were no goodwill impairment charges recorded in the three and six months ended June 30, 2017 and 2016. The following table presents activity for goodwill and other intangible assets: For the Three Months Ended June 30, For the Six Months Ended June 30, Goodwill Core Deposit Intangible Total Goodwill Core Deposit Intangible Total (in thousands) 2017 Balance, beginning of period $ 21,759 $ 4,154 $ 25,913 $ 21,759 $ 4,624 $ 26,383 Amortization — (425 ) (425 ) — (895 ) (895 ) Impairment, due to branch divestiture — (337 ) (337 ) — (337 ) (337 ) Balance, end of period $ 21,759 $ 3,392 $ 25,151 $ 21,759 $ 3,392 $ 25,151 2016 Balance, beginning of period $ 22,446 $ 8,256 $ 30,702 $ 23,352 $ 9,018 $ 32,370 Amortization — (668 ) (668 ) — (1,430 ) (1,430 ) Impairment, due to branch divestiture — (1,949 ) (1,949 ) — (1,949 ) (1,949 ) Measurement period adjustments — — — (906 ) — (906 ) Balance, end of period $ 22,446 $ 5,639 $ 28,085 $ 22,446 $ 5,639 $ 28,085 |
Servicing Assets
Servicing Assets | 6 Months Ended |
Jun. 30, 2017 | |
Transfers and Servicing [Abstract] | |
Servicing Assets | SERVICING ASSETS SBA Servicing Assets SBA servicing assets are initially recorded at fair value. Subsequently, Atlantic Capital accounts for SBA servicing assets using the amortization method and they are included in other assets. As of June 30, 2017 and December 31, 2016 , the balance of SBA loans sold and serviced by Atlantic Capital totaled $122.8 million and $107.0 million , respectively. Changes in the balance of servicing assets for the three and six months ended June 30, 2017 and 2016 are presented in the following table . Three months ended June 30, Six months ended June 30, SBA Loan Servicing Assets 2017 2016 2017 2016 (in thousands) Beginning carrying value, net $ 2,495 $ 1,860 $ 2,359 $ 1,687 Additions 326 359 593 561 Amortization (257 ) (102 ) (388 ) (131 ) Impairment — — — — Ending carrying value $ 2,564 $ 2,117 $ 2,564 $ 2,117 At June 30, 2017 and 2016 , the sensitivity of the fair value of the SBA loan servicing assets to immediate changes in key economic assumptions are presented in the table below . Sensitivity of the SBA Servicing Assets June 30, 2017 December 31, 2016 (dollars in thousands) Fair value of retained servicing assets $ 2,822 $ 2,474 Weighted average life 6.69 years 6.52 years Prepayment speed: 7.76 % 7.67 % Decline in fair value due to a 10% adverse change $ (100 ) $ (89 ) Decline in fair value due to a 20% adverse change $ (173 ) $ (151 ) Weighted average discount rate 12.22 % 12.27 % Decline in fair value due to a 100 bps adverse change $ (109 ) $ (97 ) Decline in fair value due to a 200 bps adverse change $ (189 ) $ (168 ) The above sensitivities are hypothetical and should be used with caution. As the amounts indicate, changes in fair value based on valuation assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which might magnify or counteract the sensitivities. TriNet Servicing Assets Changes in the balance of TriNet servicing assets for the three and six months ended June 30, 2017 and 2016 are presented in the following table. Three months ended June 30, Six months ended June 30, TriNet Servicing Assets 2017 2016 2017 2016 (in thousands) Beginning carrying value, net $ 778 $ 1,352 $ 825 $ 1,175 Additions — 179 — 406 Amortization (47 ) (60 ) (94 ) (110 ) Impairment — — — — Ending carrying value $ 731 $ 1,471 $ 731 $ 1,471 At June 30, 2017 , the sensitivity of the fair value of the TriNet servicing assets to immediate changes in key economic assumptions are presented in the table below . Sensitivity of the TriNet Servicing Assets June 30, 2017 December 31, 2016 (dollars in thousands) Fair value of retained servicing assets $ 788 $ 840 Weighted average life 8.44 years 8.47 years Prepayment speed: 5.00 % 5.00 % Decline in fair value due to a 10% adverse change $ (8 ) $ (12 ) Decline in fair value due to a 20% adverse change $ (23 ) $ (24 ) Weighted average discount rate 8.00 % 8.00 % Decline in fair value due to a 100 bps adverse change $ (22 ) $ (25 ) Decline in fair value due to a 200 bps adverse change $ (43 ) $ (49 ) The above sensitivities are hypothetical and should be used with caution. As the amounts indicate, changes in fair value based on valuation assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. In reality, changes in one factor may result in changes in another, which might magnify or counteract the sensitivities. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) for Atlantic Capital consists of changes in net unrealized gains and losses on investment securities available-for-sale and derivatives. The following tables present a summary of the changes in accumulated other comprehensive income (loss) balances for the applicable periods. For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2017 Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount (in thousands) Accumulated other comprehensive income (loss) beginning of period $ (8,790 ) $ 3,383 $ (5,407 ) $ (9,144 ) $ 3,519 $ (5,625 ) Unrealized net gains (losses) on investment securities available-for-sale 5,069 (1,951 ) 3,118 5,660 (2,178 ) 3,482 Reclassification adjustment for net realized gains (losses) on investment securities available-for-sale — — — — — — Unrealized net gains (losses) on derivatives 31 (12 ) 19 (206 ) 79 (127 ) Accumulated other comprehensive income (loss) end of period $ (3,690 ) $ 1,420 $ (2,270 ) $ (3,690 ) $ 1,420 $ (2,270 ) For the Three Months Ended For the Six Months Ended June 30, 2016 June 30, 2016 Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount (in thousands) Accumulated other comprehensive income (loss) beginning of period $ 2,724 $ (1,052 ) $ 1,672 $ (2,455 ) $ 939 $ (1,516 ) Unrealized net gains (losses) on investment securities available-for-sale 2,703 (1,043 ) 1,660 6,978 (2,683 ) 4,295 Reclassification adjustment for net realized gains on investment securities available-for-sale (11 ) 4 (7 ) (44 ) 17 (27 ) Unrealized net gains (losses) on derivatives 275 (106 ) 169 1,212 (470 ) 742 Accumulated other comprehensive income (loss) end of period $ 5,691 $ (2,197 ) $ 3,494 $ 5,691 $ (2,197 ) $ 3,494 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | EARNINGS PER COMMON SHARE Basic earnings per share amounts are computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share amounts are computed by dividing net income by the weighted average number of shares of common stock outstanding and the dilutive effects of the shares awarded under the stock option plan, based on the treasury stock method using an average fair market value of the stock during the respective periods. The following table represents the earnings per share calculations for the three and six months ended June 30, 2017 and 2016 . Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (in thousands, except share and per share amounts) Net income available to common shareholders $ 4,329 $ 5,147 $ 7,559 $ 8,078 Weighted average shares outstanding Basic (1) 25,621,910 24,644,755 25,472,132 24,565,328 Effect of dilutive securities: Stock options and warrants 209,371 513,939 281,501 517,640 Diluted 25,831,281 25,158,694 25,753,633 25,082,968 Income per common share: Basic $ 0.17 $ 0.21 $ 0.30 $ 0.33 Diluted $ 0.17 $ 0.20 $ 0.29 $ 0.32 (1) Unvested restricted shares are participating securities and included in basic share calculations. Stock options and warrants outstanding of 550 at June 30, 2017 and 259,044 at June 30, 2016 have not been included in diluted earnings per share because to do so would have been anti-dilutive for the periods presented. These awards were considered anti-dilutive because the exercise price of the award was higher than the market value of the shares. The Amended and Restated Articles of Incorporation of Atlantic Capital, which were approved by the Board of Directors on March 24, 2015 and by Atlantic Capital’s shareholders on May 21, 2015, authorize Atlantic Capital to issue 110,000,000 shares of capital stock, of which 10,000,000 shares are designated as preferred stock, no par value per share, and 100,000,000 shares are designated as common stock, no par value per share. At June 30, 2017 , 25,654,521 shares of common stock were issued and outstanding. At December 31, 2016 , 25,093,135 shares of common stock were issued and outstanding. The primary source of funds available to Atlantic Capital is payments of dividends from the Bank. The Bank has not paid any dividends to Atlantic Capital in 2017 or 2016. Banking laws and other regulations limit the amount of dividends a bank subsidiary may pay without prior regulatory approval. Additionally, Atlantic Capital’s ability to pay dividends to its shareholders will depend on the ability of the Bank to pay dividends to Atlantic Capital. The Bank is subject to regulatory restrictions on the payment of cash dividends, which generally may be paid only from current earnings. |
Derivatives and Hedging
Derivatives and Hedging | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging | DERIVATIVES AND HEDGING Risk Management Atlantic Capital’s objectives in using interest rate derivatives are to add stability to net interest revenue and to manage its exposure to interest rate movements. To accomplish this objective, Atlantic Capital primarily uses interest rate swaps as part of its interest rate risk management strategy. Cash Flow Hedges At June 30, 2017 , Atlantic Capital’s interest rate swaps designated as cash flow hedges involve the payment of floating-rate amounts to a counterparty in exchange for receiving fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. At June 30, 2017 and December 31, 2016 , Atlantic Capital had interest rate swaps designated as cash flow hedges with an aggregate notional amount of $50.0 million . No hedge ineffectiveness gains or losses were recognized on active cash flow hedges for the three and six months ended June 30, 2017 and 2016 . The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Atlantic Capital expects that approximately $159,000 will be reclassified as an increase to loan interest income over the next twelve months related to these cash flow hedges. Customer Swaps Atlantic Capital also enters into derivative contracts, which consist of interest rate swaps, to facilitate the needs of clients desiring to manage interest rate risk. These swaps are not designated as accounting hedges under ASC 815, Derivatives and Hedging . In order to economically hedge the interest rate risk associated with offering this product, Atlantic Capital simultaneously enters into derivative contracts with third parties to offset the customer contracts, such that Atlantic Capital minimizes its net risk exposure resulting from such transactions. The derivative contracts are structured such that the notional amounts reduce over time to generally match the expected amortization of the underlying loans. These derivatives are not speculative and arise from a service provided to clients. Atlantic Capital’s derivative instruments are recorded at fair value in other assets and accrued interest receivable and other liabilities and accrued interest payable in the Consolidated Balance Sheets. The changes in the fair value of the derivative instruments are recognized in other noninterest income in the Consolidated Statements of Income. At June 30, 2017 and December 31, 2016 , Atlantic Capital had interest rate swaps related to this program with an aggregate notional amount of $141.0 million and $140.7 million , respectively. Atlantic Capital acquired a loan level hedging program, which First Security utilized to accommodate clients preferring a fixed rate loan. The loan documents include an addendum with a zero premium collar. The zero premium collar is a cap and a floor at the same interest rate, resulting in a fixed rate to the borrower. To hedge this embedded option, First Security entered into a dealer facing trade exactly mirroring the terms in the loan addendum. Counterparty Credit Risk As a result of its derivative contracts, Atlantic Capital is exposed to credit risk. Specifically approved counterparties and exposure limits are defined. On a quarterly basis, the customer derivative contracts and related counterparties are evaluated for credit risk and an adjustment is made to the contract’s fair value. This adjustment is recognized in the Consolidated Statements of Income. Most derivative contracts with clients are secured by collateral. Additionally, in accordance with the interest rate agreements with derivatives dealers, Atlantic Capital may be required to post margin to these counterparties. At June 30, 2017 and December 31, 2016 , Atlantic Capital had minimum collateral posting thresholds with certain of its derivative counterparties and posted collateral of $8.3 million and $16.3 million , respectively, against its obligations under these agreements. Cash collateral related to derivative contracts is recorded in other assets in the Consolidated Balance Sheets. Atlantic Capital has master netting agreements with the derivatives dealers with which it does business, but reflects gross assets and liabilities on the Consolidated Balance Sheets. In conjunction with the FASB’s fair value measurement guidance, management made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting arrangements on a net basis. To accommodate clients, Atlantic Capital occasionally enters into credit risk participation agreements with counterparty banks to accept a portion of the credit risk related to interest rate swaps. This allows clients to execute an interest rate swap with one bank while allowing for distribution of the credit risk among participating members. Credit risk participation agreements arise when Atlantic Capital contracts with other financial institutions, as a guarantor, to share credit risk associated with certain interest rate swaps. These agreements provide for reimbursement of losses resulting from a third party default on the underlying swap. At June 30, 2017 and December 31, 2016 , Atlantic Capital had credit risk participation agreements with a notional amount of $16.3 million and $4.5 million , respectively. The following table reflects the estimated fair value positions of derivative contracts and credit risk participation agreements as of June 30, 2017 and December 31, 2016 : Derivatives designated as hedging instruments under ASC 815 (in thousands) June 30, 2017 December 31, 2016 Interest Rate Products Balance Sheet Location Notional Amount Fair Value Notional Amount Fair Value Cash flow hedge of LIBOR based loans Other assets $ 25,000 $ 38 $ 50,000 $ 186 Cash flow hedge of LIBOR based loans Other liabilities $ 25,000 $ 1 $ — $ — Derivatives not designated as hedging instruments under ASC 815 (in thousands) June 30, 2017 December 31, 2016 Interest Rate Products Balance Sheet Location Notional Amount Fair Value Notional Amount Fair Value Customer swap positions Other assets $ 70,476 $ 1,262 $ 70,352 $ 1,364 Zero premium collar Other assets 96,396 2,850 98,697 2,760 $ 166,872 $ 4,112 $ 169,049 $ 4,124 Dealer offsets to customer swap positions Other liabilities $ 70,476 $ 1,306 $ 70,352 $ 1,371 Credit risk participation Other liabilities 16,304 6 4,460 — Dealer offset to zero premium collar Other liabilities 96,396 2,931 98,697 2,760 $ 183,176 $ 4,243 $ 173,509 $ 4,131 The following table reflects the impact to the Consolidated Statements of Income related to derivative contracts for the three and six months ended June 30, 2017 and 2016 : Derivatives in Cash Flow Hedging Relationships Three Months Ended June 30, Six Months Ended June 30, (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Gain or (Loss) Reclassified from Accumulated OCI in Income (Effective Portion) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Gain or (Loss) Reclassified from Accumulated OCI in Income (Effective Portion) 2017 2016 Location 2017 2016 2017 2016 Location 2017 2016 Interest rate swaps $ 19 $ 169 Interest income $ 110 $ 183 $ (127 ) $ 742 Interest income $ 247 $ 369 |
Other Borrowings and Long Term
Other Borrowings and Long Term Debt | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Other Borrowings and Long Term Debt | OTHER BORROWINGS AND LONG TERM DEBT Federal Home Loan Bank borrowings as of June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 December 31, 2016 Balance Interest Rate Balance Interest Rate (in thousands) (in thousands) FHLB short-term borrowings: FHLB short-term borrowings: Fixed rate advance maturing July 3, 2017 25,000 1.02 % Fixed rate advance maturing January 17, 2017 40,000 0.64 % Fixed rate advance maturing July 20, 2017 40,000 1.16 % Fixed rate advance maturing January 24, 2017 40,000 0.61 % Fixed rate advance maturing July 24, 2017 35,000 1.16 % Fixed rate advance maturing January 30, 2017 30,000 0.62 % Fixed rate advance maturing July 24, 2017 40,000 1.17 % Total $ 110,000 Fixed rate advance maturing July 27, 2017 40,000 1.17 % Total $ 180,000 Federal Funds purchased and securities sold under agreements to repurchase Federal Funds purchased and securities sold under agreements to repurchase Federal Funds purchased 15,000 1.28%- 1.31% Federal Funds purchased — — % Total Short-Term Borrowings $ 195,000 Total Short-Term Borrowings $ 110,000 On September 28, 2015, Atlantic Capital issued subordinated notes (the “Notes”) totaling $50.0 million in aggregate principal amount. The Notes are due September 30, 2025 and bear a fixed rate of interest of 6.25% per year until September 29, 2020. From September 30, 2020 to the maturity date, the interest rate will be a floating rate equal to the three-month LIBOR plus 468 basis points. The Notes were priced at 100% of their par value. The Notes qualify as Tier 2 regulatory capital. Subordinated debt is summarized as follows. June 30, 2017 December 31, 2016 (in thousands Floating rate 10 year capital securities, with interest paid semi-annually at an annual fixed rate of 6.25% until September 30, 2020 $ 50,000 $ 50,000 Principal amount of subordinated debt $ 50,000 $ 50,000 Less debt issuance costs 549 634 Subordinated debt, net $ 49,451 $ 49,366 All subordinated debt outstanding at June 30, 2017 matures after more than five years. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | SHARE-BASED COMPENSATION Atlantic Capital sponsors a stock incentive plan for the benefit of directors and employees. Under the 2015 Stock Incentive Plan, there were approximately 4,525,000 shares reserved for issuance to directors and employees. The Compensation Committee has the authority to grant the following: an incentive or nonqualified option; a restricted stock award (including a restricted stock award or a restricted unit award); a performance award (including a performance share award or a performance unit award); a phantom stock award; a dividend equivalent award; or any other award granted under the plan. As of June 30, 2017 , approximately 3,862,000 additional awards were available to be granted under the plan. Stock options are granted at a price which is no less than the fair market value of a share of Atlantic Capital common stock on the grant date. Stock options generally vest over three years and expire after ten years. As of June 30, 2017 , no warrants were outstanding for the purchase of common stock. As of December 31, 2016, warrants for 363,000 shares were outstanding for the purchase of common stock at a price of $10.00 per warrant. The warrants were issued as of May 14, 2007, the date of issuance of common stock sold in the initial private placement, and were exercisable for a period of ten years following the issuance. The Company estimates the fair value of its options and warrants awards using the Black-Scholes option pricing model. The risk-free rate for periods within the contractual life of the option and warrant is based on the U.S. Treasury yield curve in effect at the time of grant. There were no options or warrants granted during the six months ended June 30, 2017 and 2016 . The following table represents stock option and warrant activity for the six months ended June 30, 2017 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, December 31, 2016 1,485,704 $ 11.69 Exercised (694,984 ) 10.48 Forfeited (628 ) 10.31 Expired (635 ) 126.22 Outstanding, June 30, 2017 789,457 $ 12.61 6.02 $ 5,274 Exercisable, June 30, 2017 513,515 $ 11.72 4.99 $ 3,926 Atlantic Capital recognized compensation expense relating to stock options of $139,000 and $281,000 for the three and six months ended June 30, 2017 , respectively, and $203,000 and $445,000 for the three and six months ended June 30, 2016 , respectively. Using the Black-Scholes pricing model, the amount of compensation expense was determined based on the fair value of the options at the time of grant, multiplied by the number of options granted that were expected to vest, which was then amortized over the vesting period. The following table represents restricted stock activity for the six months ended June 30, 2017 : Shares Weighted Average Grant-Date Fair Value Outstanding, December 31, 2016 259,165 $ 13.70 Granted 61,715 18.72 Vested (58,309 ) 12.25 Forfeited (26,875 ) 14.57 Outstanding, June 30, 2017 235,696 $ 15.27 Compensation expense for restricted stock is based on the fair value of restricted stock awards at the time of grant, which is equal to the value of Atlantic Capital’s common stock on the date of grant. The value of restricted stock grants that are expected to vest is amortized into expense over the vesting period. For the three months ended June 30, 2017 and 2016 , compensation expense of $243,000 and $205,000 , respectively, was recognized related to restricted stock awards. For the six months ended June 30, 2017 and 2016 , compensation expense of $473,000 and $455,000 , respectively, was recognized related to restricted stock awards. As of June 30, 2017 , there was $ 2.7 million of unrecognized compensation cost related to restricted stock awards granted under the plan. That cost is expected to be recognized over a weighted-average period of 2.84 years. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Atlantic Capital follows the guidance pursuant to ASC 820-10, Fair Value Measurements and Disclosures . This guidance defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. This issuance applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances. Atlantic Capital measures its investment securities and interest rate derivative assets and liabilities at fair value on a recurring basis. Fair value is used on a nonrecurring basis either when assets are evaluated for impairment or for disclosure purposes. Atlantic Capital measures its servicing assets, goodwill, intangible assets, loans held for sale, impaired loans and other real estate owned at fair value on a nonrecurring basis if necessary. The guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement and defines fair value as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, this guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Atlantic Capital applied the following fair value hierarchy: Level 1 – Assets or liabilities for which the identical item is traded on an active exchange, such as publicly-traded instruments or futures contracts. Level 2 – Assets or liabilities valued based on observable market data for similar instruments. Level 3 – Assets or liabilities for which significant valuation assumptions are not readily observable in the market, instruments valued based on the best available data, some of which is internally-developed, and risk premiums that a market participant would require. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement. There were no transfers between Level 1 and Level 2 or Level 2 and Level 3 during the six months ended June 30, 2017. There was one transfer between Level 2 and Level 3 and no transfers between Level 1 and Level 2 during the six months ended June 30, 2016. Atlantic Capital records investment securities available-for-sale at fair value on a recurring basis. Investment securities classified as available-for-sale are reported at fair value utilizing Level 2 inputs. For these securities, Atlantic Capital obtains fair value measurements from an independent pricing service. In estimating the fair values for investment securities, Atlantic Capital believes that independent third-party market prices are the best evidence of an exit price. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the Treasury Department yield curve, trade execution data, market consensus prepayment speeds, credit information and the securities’ terms and conditions, among other things. Derivative instruments are primarily transacted as over-the-counter trades and priced with observable market assumptions. Ongoing measurements include observable market assumptions with appropriate valuation adjustments for liquidity and for credit risk of counterparties and Atlantic Capital’s own credit. For these instruments, Atlantic Capital obtains fair value measurements from an independent pricing service. The fair value measurements consider factors such as the likelihood of default by Atlantic Capital and its counterparties, total exposure and remaining maturities in determining the appropriate fair value adjustments to record. Generally, the expected loss of each client counterparty is estimated using Atlantic Capital’s internal risk rating system. For financial institution counterparties that are rated by national rating agencies, those ratings are used in determining the credit risk. This approach used to estimate exposures to counterparties is also used by Atlantic Capital to estimate its own credit risk on derivative liability positions. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the assets that were measured at fair value on a recurring basis by level within the fair value hierarchy as reported in the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 . Fair Value Measurements at June 30, 2017 Using: Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (in thousands) Securities available-for-sale— U.S. government agencies $ — $ 35,125 $ — $ 35,125 U.S. states and political subdivisions — 94,168 — 94,168 Trust preferred securities — 4,688 — 4,688 Corporate debt securities — 19,220 — 19,220 Mortgage-backed securities — 297,072 — 297,072 Total securities available-for-sale $ — $ 450,273 $ — $ 450,273 Interest rate derivative assets $ — $ 4,150 $ — $ 4,150 Interest rate derivative liabilities $ — $ 4,244 $ — $ 4,244 Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (in thousands) Securities available-for-sale— U.S. government agencies $ — $ 21,152 $ — $ 21,152 U.S. states and political subdivisions — 90,172 — 90,172 Trust preferred securities — 4,525 — 4,525 Corporate debt securities — 19,231 — 19,231 Mortgage-backed securities — 212,625 — 212,625 Total securities available-for-sale $ — $ 347,705 $ — $ 347,705 Interest rate derivative assets $ — $ 4,310 $ — $ 4,310 Interest rate derivative liabilities $ — $ 4,131 $ — $ 4,131 For the six months ended June 30, 2017 and 2016 , there was not a change in the methods and significant assumptions used to estimate fair value. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The following table presents the assets that were measured at fair value on a nonrecurring basis by level within the fair value hierarchy as reported in the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 . June 30, 2017 Level 1 Fair Value Measurement Level 2 Fair Value Measurement Level 3 Fair Value Measurement Total (in thousands) Impaired Loans $ — $ — $ 7,655 $ 7,655 December 31, 2016 Level 1 Fair Value Measurement Level 2 Fair Value Measurement Level 3 Fair Value Measurement Total (in thousands) Impaired Loans $ — $ — $ 7,248 $ 7,248 Level 3 loans consist of impaired loans which have been partially charged-off or have specific valuation allowances. The fair value of Level 3 assets is estimated based on the underlying collateral value. For loans which the cash proceeds from the sale of the underlying collateral is the expected source of repayment, the fair value of these loans was derived from internal estimates of the underlying collateral incorporating market data, including third party appraisals or evaluations, when available. Appraised values may be discounted based on management’s assessment of the level of inactivity in the real estate market and other markets for the underlying collateral, changes in market conditions from the time of the valuation, and other information that in management’s judgment may affect the value. Impaired loans are evaluated on at least a quarterly basis and adjusted accordingly. Assets and Liabilities Not Measured at Fair Value For financial instruments that have quoted market prices, those quotes are used to determine fair value. Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate, are assumed to have a fair value that approximates the reported book value, after taking into consideration any applicable credit risk. If no market quotes are available, financial instruments are valued by discounting the expected cash flows using an estimated current market interest rate for the financial instrument. For off-balance sheet derivative instruments, fair value is estimated as the amount that Atlantic Capital would receive or pay to terminate the contracts at the reporting date, taking into account the current unrealized gains or losses on open contracts. The short maturity of Atlantic Capital’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following balance sheet captions: cash and due from banks, interest-bearing deposits in other banks, other short-term investments, and FHLB stock. The fair value of securities available-for-sale equals the balance sheet value. Due to the short-term settlement of accrued interest receivable and payable, the carrying amount closely approximates fair value. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect the premium or discount on any particular financial instrument that could result from the sale of Atlantic Capital’s entire holdings. Because no ready market exists for a significant portion of Atlantic Capital’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Off-balance sheet financial instruments (commitments to extend credit and standby letters of credit) are generally short-term and at variable rates. Therefore, both the carrying amount and the estimated fair value associated with these instruments are immaterial. The following table presents the estimated fair values of Atlantic Capital’s financial instruments at June 30, 2017 and December 31, 2016 . Fair Value Measurements at June 30, 2017 Using: Carrying Value Quoted Prices in Active markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Financial assets Cash and due from banks $ 45,008 $ 45,008 $ — $ — Interest bearing deposits in banks 36,171 36,171 — — Other short-term investments 17,459 17,459 — — Total securities available-for-sale 450,273 — 450,273 — FHLB stock 10,126 — — 10,126 Federal Reserve Bank stock 9,781 — — 9,781 Loans held for investment, net 1,940,221 — — 1,999,159 Loans held for sale 1,744 — 1,744 — Derivative assets 4,150 — 4,150 — Financial liabilities Deposits $ 2,113,954 $ — $ 2,006,800 $ — Federal funds purchased and securities sold under agreements to repurchase 15,000 15,000 — — Subordinated debt 49,451 — 50,007 — FHLB advances 180,000 — 180,012 — Derivative financial instruments 4,244 — 4,244 — Fair Value Measurements at December 31, 2016 Using: Carrying Value Quoted Prices in Active markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Financial assets Cash and due from banks $ 36,790 $ 36,790 $ — $ — Interest-bearing deposits in other banks 118,039 118,039 — — Other short-term investments 10,896 10,896 — — Total securities available-for-sale 347,705 — 347,705 — FHLB stock 7,067 — — 7,067 Federal Reserve Bank stock 9,690 — — 9,690 Loans held for investment, net 1,960,735 — — 1,939,895 Loans held for sale 35,219 — 35,219 — Derivative assets 4,310 — 4,310 — Financial liabilities Deposits $ 2,205,991 $ — $ 2,144,196 $ — Deposits to be assumed in branch sale 31,589 — 31,589 — Subordinated debt 49,366 — 48,971 — FHLB advances 110,000 — 109,946 — Derivative financial instruments 4,131 — 4,131 — |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Atlantic Capital is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit, most of which are standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the Consolidated Balance Sheets. The contract amounts of these instruments reflect the extent of involvement Atlantic Capital has in particular classes of financial instruments. Standby letters of credit are written conditional commitments issued by Atlantic Capital to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. Most letters of credit expire in less than one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Atlantic Capital’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. Atlantic Capital uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Atlantic Capital’s maximum exposure to credit risk for unfunded loan commitments and standby letters of credit at June 30, 2017 and December 31, 2016 was as follows: June 30, December 31, (in thousands) Financial Instruments whose contract amount represents credit risk: Commitments to extend credit $ 631,250 $ 617,432 Standby letters of credit 15,925 16,625 $ 647,175 $ 634,057 Atlantic Capital, in the normal course of business, is subject to various pending and threatened lawsuits in which claims for monetary damages are asserted. Although it is not possible to predict the outcome of these lawsuits, or the range of any possible loss, management, after consultation with legal counsel, does not anticipate that the ultimate aggregate liability, if any, arising from these lawsuits will have a material adverse effect on Atlantic Capital’s financial position or results of operations. |
Accounting Policies and Basis24
Accounting Policies and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accounting and financial reporting policies of Atlantic Capital Bancshares, Inc. (“Atlantic Capital” or the “Company”) and its subsidiary conform to accounting principles generally accepted in the United States of America (“GAAP”) and general banking industry practices. The accompanying interim consolidated financial statements have not been audited. All material intercompany balances and transactions have been eliminated. In management’s opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments are normal and recurring accruals considered necessary for a fair and accurate presentation. The accompanying consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Atlantic Capital’s filing on Form 10-K. The results for interim periods are not necessarily indicative of results for the full year or any other interim periods. Certain prior period amounts have been reclassified to conform to the current year presentation. |
Accounting Standards Updates and Recently Adopted Standards | In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-09 - “ Compensation - Stock Compensation (Topic 718): Scope and Modification Accounting .” The amendments in this ASU provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in accordance with Topic 718. The amendments will be effective for interim and annual reporting periods beginning after December 15, 2017. This ASU is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-08 “ Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.” This guidance shortens the premium amortization period for certain callable debt securities by requiring amortization to the earliest call date. The standard is effective for public companies for annual and interim periods beginning after December 15, 2020. The adoption of this update is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ,” which intends to simplify goodwill impairment testing by eliminating the second step of the analysis under which the implied fair value of goodwill is determined as if the reporting unit were being acquired in a business combination. The update instead requires entities to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for any amount by which the carrying amount exceeds the reporting unit’s fair value, to the extent that the loss recognized does not exceed the amount of goodwill allocated to that reporting unit. ASU 2017-04 must be applied prospectively and is effective for the Company on January 1, 2020. Early adoption is permitted. Atlantic Capital does not expect the new guidance to have a material impact on its financial condition or results of operation. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide guidance on the following eight specific cash flow issues: 1) debt prepayment or debt extinguishment costs; 2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; 3) contingent consideration payments made after a business combination; 4) proceeds from the settlement of insurance claims; 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; 6) distributions received from equity method investees; 7) beneficial interests in securitization transactions; and 8) separately identifiable cash flows and application of the predominance principle. The amendments are effective for public companies for fiscal years beginning after December 31, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. As this guidance only affects the classification within the statement of cash flows, this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13 “ Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments. ” ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for public companies for annual periods beginning after December 13, 2019, including interim periods within those fiscal years. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Atlantic Capital is in the process of evaluating the impact of the adoption of ASU 2016-13 on the Company’s consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . The amendments in ASU 2016-09 simplify several aspects of accounting for employee share-based payments including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas of the simplification apply only to nonpublic entities. The new guidance will require all income tax effects of awards to be recognized as income tax expense or benefit in the income statement when the awards vest or are settled and additional paid in capital pools will be eliminated. The guidance requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Companies will be required to account for forfeitures of share-based payments by recognizing forfeitures of awards as they occur or estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as currently required, through an accounting policy election. The guidance will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s income tax withholding obligation. The guidance requires an employer to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. ASU 2016-09 became effective for the Company on January 1, 2017 and did not have a material effect on its financial position or results of operations. In February 2016, the FASB issued ASU 2016-2, Leases . Under the new guidance, leases classified as operating leases under previous GAAP must be recorded on the balance sheet. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition, and provides for certain practical expedients. Atlantic Capital is evaluating the significance and other effects of adoption on the consolidated financial statements and related disclosures. In January 2016, the FASB issued ASU 2016-1, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities . The guidance in this update requires that equity investments (except those accounting for under the equity method of accounting) be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The guidance also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. In addition, the guidance addresses various disclosure and presentation issues related to financial instruments. For public entities, this update is effective for fiscal years beginning after December 15, 2017 with early application permitted. The adoption of this update is not expected to have a material impact on Atlantic Capital’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . This update is a joint project with the International Accounting Standards Board initiated to clarify the principles for recognizing revenue and to develop a common revenue standard that is meant to remove inconsistencies and weaknesses in revenue requirements, provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices, provide more useful information to users of financial statements and simplify the preparation of financial statements. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public companies, this guidance is effective for annual and interim periods beginning after December 15, 2017. Because the guidance does not apply to revenue associated with financial instruments, including loans and securities, Atlantic Capital does not expect this ASU to have a material impact on net interest income and securities gains. Atlantic Capital completed an initial evaluation of the impact to other revenue streams such as service charges and trust income, and believes the most significant changes will be related to disclosures. |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Offsetting [Abstract] | |
Offsetting Assets | The following table presents a summary of amounts outstanding under reverse repurchase agreements, repurchase agreements, and derivative financial instruments including those entered into in connection with the same counterparty under master netting agreements as of June 30, 2017 and December 31, 2016 . While these agreements are typically over-collateralized, U.S. GAAP requires disclosures in this table to limit the amount of such collateral to the amount of the related recognized asset or liability for each counterparty. (in thousands) Gross Amounts not Offset in the Balance Sheet June 30, 2017 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 17,459 $ — $ 17,459 $ (17,459 ) $ — $ — Derivatives 4,150 — 4,150 — — 4,150 Total $ 21,609 $ — $ 21,609 $ (17,459 ) $ — $ 4,150 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,244 — 4,244 (2,929 ) (1,315 ) — Total $ 4,244 $ — $ 4,244 $ (2,929 ) $ (1,315 ) $ — Gross Amounts not Offset in the Balance Sheet December 31, 2016 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 10,896 $ — $ 10,896 $ (10,896 ) $ — $ — Derivatives 4,310 — 4,310 — — 4,310 Total $ 15,206 $ — $ 15,206 $ (10,896 ) $ — $ 4,310 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,131 — 4,131 (1,818 ) (2,313 ) — Total $ 4,131 $ — $ 4,131 $ (1,818 ) $ (2,313 ) $ — |
Offsetting Liabilities | The following table presents a summary of amounts outstanding under reverse repurchase agreements, repurchase agreements, and derivative financial instruments including those entered into in connection with the same counterparty under master netting agreements as of June 30, 2017 and December 31, 2016 . While these agreements are typically over-collateralized, U.S. GAAP requires disclosures in this table to limit the amount of such collateral to the amount of the related recognized asset or liability for each counterparty. (in thousands) Gross Amounts not Offset in the Balance Sheet June 30, 2017 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 17,459 $ — $ 17,459 $ (17,459 ) $ — $ — Derivatives 4,150 — 4,150 — — 4,150 Total $ 21,609 $ — $ 21,609 $ (17,459 ) $ — $ 4,150 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,244 — 4,244 (2,929 ) (1,315 ) — Total $ 4,244 $ — $ 4,244 $ (2,929 ) $ (1,315 ) $ — Gross Amounts not Offset in the Balance Sheet December 31, 2016 Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Asset Balance Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 10,896 $ — $ 10,896 $ (10,896 ) $ — $ — Derivatives 4,310 — 4,310 — — 4,310 Total $ 15,206 $ — $ 15,206 $ (10,896 ) $ — $ 4,310 Gross Amounts not Offset in the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Liability Balance Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ — $ — $ — $ — $ — $ — Derivatives 4,131 — 4,131 (1,818 ) (2,313 ) — Total $ 4,131 $ — $ 4,131 $ (1,818 ) $ (2,313 ) $ — |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | The following table presents the amortized cost, unrealized gains and losses, and fair value of securities available-for-sale at June 30, 2017 and December 31, 2016 . Available-For-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) June 30, 2017 Debt securities— U.S. Government agencies $ 35,299 $ 105 $ (279 ) $ 35,125 U.S. states and political divisions 97,502 316 (3,650 ) 94,168 Trust preferred securities 4,741 — (53 ) 4,688 Corporate debt securities 19,777 119 (676 ) 19,220 Residential mortgage-backed securities 296,934 3,117 (2,979 ) 297,072 Total $ 454,253 $ 3,657 $ (7,637 ) $ 450,273 December 31, 2016 Debt securities— U.S. Government agencies $ 21,485 $ 24 $ (357 ) $ 21,152 U.S. states and political divisions 96,908 141 (6,877 ) 90,172 Trust preferred securities 4,727 — (202 ) 4,525 Corporate debt securities 19,928 72 (769 ) 19,231 Residential mortgage-backed securities 214,297 2,689 (4,361 ) 212,625 Total $ 357,345 $ 2,926 $ (12,566 ) $ 347,705 |
Investments Classified by Contractual Maturity Date | The following table presents the amortized cost and fair value of debt securities by contractual maturity at June 30, 2017 . Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-For-Sale Amortized Cost Fair Value (in thousands) Within 1 year $ 4,140 $ 4,141 Over 1 year through 5 years 17,642 17,472 5 years to 10 years 60,990 60,448 Over 10 years 74,547 71,140 157,319 153,201 Residential mortgage-backed securities 296,934 297,072 Total $ 454,253 $ 450,273 |
Continuous Unrealized Loss Position, Fair Value | The following table summarizes available-for-sale securities in an unrealized loss position as of June 30, 2017 and December 31, 2016 . Less than 12 months 12 months or greater Totals Available-For-Sale Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (in thousands) June 30, 2017 U.S. Government agencies $ 24,547 $ (207 ) 2,673 $ (72 ) $ 27,220 $ (279 ) U.S. states and political divisions 75,219 (3,552 ) 3,136 (98 ) 78,355 (3,650 ) Trust preferred securities — — 4,688 (53 ) 4,688 (53 ) Corporate debt securities — — 5,869 (676 ) 5,869 (676 ) Residential mortgage-backed securities 106,559 (1,356 ) 69,728 (1,623 ) 176,287 (2,979 ) Totals $ 206,325 $ (5,115 ) $ 86,094 $ (2,522 ) $ 292,419 $ (7,637 ) December 31, 2016 U.S. Government agencies $ 12,250 $ (263 ) $ 2,881 $ (94 ) $ 15,131 $ (357 ) U.S. states and political divisions 87,511 (6,877 ) — — 87,511 (6,877 ) Trust preferred securities — — 4,525 (202 ) 4,525 (202 ) Corporate debt securities 7,886 (769 ) — — 7,886 (769 ) Residential mortgage-backed securities 151,406 (3,231 ) 32,550 (1,130 ) 183,956 (4,361 ) Totals $ 259,053 $ (11,140 ) $ 39,956 $ (1,426 ) $ 299,009 $ (12,566 ) |
Schedule of Realized Gain (Loss) | The following table summarizes securities sales activity for the three and six months ended June 30, 2017 and 2016 . Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Proceeds from sales $ — $ 60,150 $ — $ 65,103 Gross realized gains — 416 — 449 Gross realized losses — (405 ) — (405 ) Net gains on sales of securities $ — $ 11 $ — $ 44 |
Loans and Allowance for Loan 27
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The composition of the loan portfolio as of June 30, 2017 and December 31, 2016 , is summarized below. June 30, December 31, (in thousands) Loans held for sale Branch loans held for sale $ — $ 30,917 Other loans held for sale 1,744 4,302 Total loans held for sale $ 1,744 $ 35,219 Loans held for investment Commercial loans: Commercial and industrial $ 578,888 $ 531,061 Commercial real estate 982,875 858,778 Construction and land 125,058 219,352 Mortgage warehouse participations 47,992 147,519 Total commercial loans 1,734,813 1,756,710 Residential: Residential mortgages 101,798 101,921 Home equity 79,769 77,358 Total residential loans 181,567 179,279 Consumer 31,981 27,338 Other 18,013 21,565 Total loans 1,966,374 1,984,892 Less net deferred fees and other unearned income (4,283 ) (3,562 ) Less allowance for loan losses (21,870 ) (20,595 ) Loans held for investment, net $ 1,940,221 $ 1,960,735 |
Schedule of Accretable Yield | The following table presents changes in the value of the accretable yield for acquired loans accounted for under ASC 310-30. For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 (in thousands) Balance at beginning of period $ 3,369 $ 2,088 $ 3,467 $ 2,369 Additions due to acquisitions — — — — Accretion (334 ) (262 ) (779 ) (543 ) Reclassification of nonaccretable discount due to improvement in expected cash flows 92 — 344 — Other changes, net 3 — 98 — Balance at end of period $ 3,130 $ 1,826 $ 3,130 $ 1,826 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent | The following table presents the balance and activity in the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2017 and 2016 . 2017 2016 Three Months Ended June 30, Commercial Residential Consumer Total Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Beginning balance $ 18,101 $ 1,406 $ 432 $ 19,939 $ 15,613 $ 1,502 $ 493 $ 17,608 Provision for loan losses 2,582 (540 ) (62 ) 1,980 861 (88 ) 4 777 Loans charged-off — (8 ) (57 ) (65 ) (5 ) (25 ) (38 ) (68 ) Recoveries 9 2 5 16 — — 60 60 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 $ 16,469 $ 1,389 $ 519 $ 18,377 2017 2016 Six Months Ended June 30, Commercial Residential Consumer Total Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Beginning balance $ 18,717 $ 1,418 $ 460 $ 20,595 $ 16,537 $ 1,981 $ 387 $ 18,905 Provision for loan losses 2,879 (506 ) 241 2,614 1,525 (567 ) 187 1,145 Loans charged-off (913 ) (54 ) (389 ) (1,356 ) (1,610 ) (25 ) (184 ) (1,819 ) Recoveries 9 2 6 17 17 — 129 146 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 $ 16,469 $ 1,389 $ 519 $ 18,377 |
Allowance for Credit Losses on Financing Receivables | The balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method is presented in the following table as of June 30, 2017 and December 31, 2016 . June 30, 2017 Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans Individually evaluated for impairment $ 3,249 $ — $ — $ 3,249 Collectively evaluated for impairment 17,370 860 316 18,546 PCI 73 — 2 75 Total ending allowance balance $ 20,692 $ 860 $ 318 $ 21,870 Loans: Loans individually evaluated for impairment $ 16,931 $ 868 $ — $ 17,799 Loans collectively evaluated for impairment 1,709,411 177,669 49,985 1,937,065 PCI 8,471 3,030 9 11,510 Total ending loans balance $ 1,734,813 $ 181,567 $ 49,994 $ 1,966,374 December 31, 2016 Commercial Residential Consumer Total (in thousands) Allowance for loan losses: Ending allowance balance attributable to loans Individually evaluated for impairment $ 2,626 $ 58 $ — $ 2,684 Collectively evaluated for impairment 16,018 1,360 459 17,837 PCI 73 — 1 74 Total ending allowance balance $ 18,717 $ 1,418 $ 460 $ 20,595 Loans: Loans individually evaluated for impairment $ 13,687 $ 398 $ — $ 14,085 Loans collectively evaluated for impairment 1,732,324 174,338 48,892 1,955,554 PCI 10,699 4,543 11 15,253 Total ending loans balance $ 1,756,710 $ 179,279 $ 48,903 $ 1,984,892 |
Impaired Financing Receivables | The following tables present information on Atlantic Capital’s impaired loans for the three and six months ended June 30, 2017 and 2016 : For the Three Months Ended June 30, 2017 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment (in thousands) Impaired loans with no related allowance recorded: Commercial and industrial $ 4,962 $ 4,899 $ — $ 4,866 $ 13 $ 2,843 $ 2,843 $ — $ 2,811 $ 36 Commercial real estate 2,494 2,331 — 2,361 20 557 416 — 413 21 Construction and land — — — — — — — — — — Residential mortgages 380 334 — 340 — — — — — — Home equity 534 534 — 541 — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 8,370 $ 8,098 $ — $ 8,108 $ 33 $ 3,400 $ 3,259 $ — $ 3,224 $ 57 Impaired loans with an allowance recorded: Commercial and industrial $ 9,122 $ 9,122 $ 3,106 $ 9,160 $ 138 $ 78 $ 78 $ 390 $ 78 $ — Commercial real estate 579 579 143 582 6 1,659 1,659 261 1,659 6 Construction and land — — — — — — — — — — Residential mortgages — — — — — — — — — — Home equity — — — — — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 9,701 $ 9,701 $ 3,249 $ 9,742 $ 144 $ 1,737 $ 1,737 $ 651 $ 1,737 $ 6 Total impaired loans $ 18,071 $ 17,799 $ 3,249 $ 17,850 $ 177 $ 5,137 $ 4,996 $ 651 $ 4,961 $ 63 For the Six Months Ended June 30, 2017 2016 Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment Unpaid Principal Balance Recorded Investment Related Allowance Average Balance of Recorded Investment While Impaired Interest Income Recognized During Impairment (in thousands) Impaired loans with no related allowance recorded: Commercial and industrial $ 4,962 $ 4,899 $ — $ 5,346 $ 30 $ 2,843 $ 2,843 $ — $ 2,774 $ 72 Commercial real estate 2,494 2,331 — 2,439 20 557 416 — 413 21 Construction and land — — — — — — — — — — Residential mortgages 380 334 — 366 — — — — — — Home equity 534 534 — 541 — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 8,370 $ 8,098 $ — $ 8,692 $ 50 $ 3,400 $ 3,259 $ — $ 3,187 $ 93 Impaired loans with an allowance recorded: Commercial and industrial $ 9,122 $ 9,122 $ 3,106 $ 9,200 $ 246 $ 78 $ 78 $ 390 $ 78 $ — Commercial real estate 579 579 143 585 13 1,659 1,659 261 1,659 27 Construction and land — — — — — — — — — — Residential mortgages — — — — — — — — — — Home equity — — — — — — — — — — Mortgage warehouse — — — — — — — — — — Consumer — — — — — — — — — — Total $ 9,701 $ 9,701 $ 3,249 $ 9,785 $ 259 $ 1,737 $ 1,737 $ 651 $ 1,737 $ 27 Total impaired loans $ 18,071 $ 17,799 $ 3,249 $ 18,477 $ 309 $ 5,137 $ 4,996 $ 651 $ 4,924 $ 120 |
Troubled Debt Restructurings on Financing Receivables | As of June 30, 2017 and December 31, 2016 , and based on the most recent analysis performed, the risk category of loans by class of loans is as follows. Pass Special Mention Substandard Accruing Substandard Nonaccruing Doubtful Total (in thousands) June 30, 2017 Commercial and industrial $ 529,268 $ 4,882 $ 32,249 $ 8,235 $ — $ 574,634 Commercial real estate 964,573 7,254 4,961 2,310 — 979,098 Construction and land 119,876 4,722 — 20 — 124,618 Residential mortgages 96,824 1,407 959 631 — 99,821 Home equity 77,461 42 500 713 — 78,716 Mortgage warehouse 47,992 — — — — 47,992 Consumer/Other 49,682 97 206 — — 49,985 Total loans, excluding PCI loans $ 1,885,676 $ 18,404 $ 38,875 $ 11,909 $ — $ 1,954,864 Commercial and industrial $ 3,200 $ 272 $ 782 $ — $ — $ 4,254 Commercial real estate 3,099 250 306 — 122 3,777 Construction and land 396 7 37 — — 440 Residential mortgages 117 902 958 — — 1,977 Home equity 33 649 371 — — 1,053 Mortgage warehouse — — — — — — Consumer/Other 1 1 7 — — 9 Total PCI loans $ 6,846 $ 2,081 $ 2,461 $ — $ 122 $ 11,510 Pass Special Mention Substandard Accruing Substandard Nonaccruing Doubtful Total (in thousands) December 31, 2016 Commercial and industrial $ 494,617 $ 3,160 $ 26,399 $ 3 $ 471 $ 524,650 Commercial real estate 843,924 5,513 5,571 — — 855,008 Construction and land 213,981 4,789 64 — — 218,834 Residential mortgages 97,660 586 747 147 — 99,140 Home equity 75,031 168 397 — — 75,596 Mortgage warehouse 147,519 — — — — 147,519 Consumer/Other 48,680 190 22 — — 48,892 Total loans, excluding PCI loans $ 1,921,412 $ 14,406 $ 33,200 $ 150 $ 471 $ 1,969,639 Commercial and industrial $ 4,650 $ 299 $ 614 $ — $ 848 $ 6,411 Commercial real estate 477 240 2,716 — 337 3,770 Construction and land 229 8 281 — — 518 Residential mortgages 59 1,232 1,016 — 474 2,781 Home equity 364 834 564 — — 1,762 Mortgage warehouse — — — — — — Consumer/Other 1 — 10 — — 11 Total PCI loans $ 5,780 $ 2,613 $ 5,201 $ — $ 1,659 $ 15,253 |
Past Due Financing Receivables | The following table presents the aging of the recorded investment in past due loans as of June 30, 2017 and December 31, 2016 by class of loans. As of June 30, 2017 Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing PCI Loans Total (in thousands) Loans by Classification Commercial and industrial $ 565,802 $ 472 $ 125 $ 8,235 $ 4,254 $ 578,888 Commercial real estate 976,640 — 148 2,310 3,777 982,875 Construction and land 124,598 — — 20 440 125,058 Residential mortgages 98,851 261 78 631 1,977 101,798 Home equity 77,963 — 40 713 1,053 79,769 Mortgage warehouse 47,992 — — — — 47,992 Consumer 49,984 1 — — 9 49,994 Total Loans $ 1,941,830 $ 734 $ 391 $ 11,909 $ 11,510 $ 1,966,374 As of December 31, 2016 Accruing Current Accruing 30-89 Days Past Due Accruing 90+ Days Past Due Nonaccruing PCI Loans Total (in thousands) Loans by Classification Commercial and industrial $ 520,908 $ 3,079 $ 189 $ 474 $ 6,411 $ 531,061 Commercial real estate 852,626 2,382 — — 3,770 858,778 Construction and land 218,290 544 — — 518 219,352 Residential mortgages 97,901 664 428 147 2,781 101,921 Home equity 74,420 884 292 — 1,762 77,358 Mortgage warehouse 147,519 — — — — 147,519 Consumer 48,558 249 85 — 11 48,903 Total Loans $ 1,960,222 $ 7,802 $ 994 $ 621 $ 15,253 $ 1,984,892 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill | The following table presents activity for goodwill and other intangible assets: For the Three Months Ended June 30, For the Six Months Ended June 30, Goodwill Core Deposit Intangible Total Goodwill Core Deposit Intangible Total (in thousands) 2017 Balance, beginning of period $ 21,759 $ 4,154 $ 25,913 $ 21,759 $ 4,624 $ 26,383 Amortization — (425 ) (425 ) — (895 ) (895 ) Impairment, due to branch divestiture — (337 ) (337 ) — (337 ) (337 ) Balance, end of period $ 21,759 $ 3,392 $ 25,151 $ 21,759 $ 3,392 $ 25,151 2016 Balance, beginning of period $ 22,446 $ 8,256 $ 30,702 $ 23,352 $ 9,018 $ 32,370 Amortization — (668 ) (668 ) — (1,430 ) (1,430 ) Impairment, due to branch divestiture — (1,949 ) (1,949 ) — (1,949 ) (1,949 ) Measurement period adjustments — — — (906 ) — (906 ) Balance, end of period $ 22,446 $ 5,639 $ 28,085 $ 22,446 $ 5,639 $ 28,085 The carrying amount of goodwill and other intangible assets as of June 30, 2017 and December 31, 2016 is summarized below: June 30, December 31, 2017 2016 (in thousands) Core deposit intangible $ 9,544 $ 9,544 Less: accumulated amortization (3,866 ) (2,971 ) Less: impairment related to divested branches (2,286 ) (1,949 ) Core deposit intangible, net 3,392 4,624 Servicing assets, net 3,295 3,184 Total other intangibles, net 6,687 7,808 Goodwill 21,759 21,759 Total goodwill and other intangible assets, net $ 28,446 $ 29,567 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Transfers and Servicing [Abstract] | |
Changes in the Balance of Servicing Assets | Changes in the balance of TriNet servicing assets for the three and six months ended June 30, 2017 and 2016 are presented in the following table. Three months ended June 30, Six months ended June 30, TriNet Servicing Assets 2017 2016 2017 2016 (in thousands) Beginning carrying value, net $ 778 $ 1,352 $ 825 $ 1,175 Additions — 179 — 406 Amortization (47 ) (60 ) (94 ) (110 ) Impairment — — — — Ending carrying value $ 731 $ 1,471 $ 731 $ 1,471 Changes in the balance of servicing assets for the three and six months ended June 30, 2017 and 2016 are presented in the following table . Three months ended June 30, Six months ended June 30, SBA Loan Servicing Assets 2017 2016 2017 2016 (in thousands) Beginning carrying value, net $ 2,495 $ 1,860 $ 2,359 $ 1,687 Additions 326 359 593 561 Amortization (257 ) (102 ) (388 ) (131 ) Impairment — — — — Ending carrying value $ 2,564 $ 2,117 $ 2,564 $ 2,117 |
Schedule of Sensitivity to Immediate Changes in Key Economic Assumptions | At June 30, 2017 and 2016 , the sensitivity of the fair value of the SBA loan servicing assets to immediate changes in key economic assumptions are presented in the table below . Sensitivity of the SBA Servicing Assets June 30, 2017 December 31, 2016 (dollars in thousands) Fair value of retained servicing assets $ 2,822 $ 2,474 Weighted average life 6.69 years 6.52 years Prepayment speed: 7.76 % 7.67 % Decline in fair value due to a 10% adverse change $ (100 ) $ (89 ) Decline in fair value due to a 20% adverse change $ (173 ) $ (151 ) Weighted average discount rate 12.22 % 12.27 % Decline in fair value due to a 100 bps adverse change $ (109 ) $ (97 ) Decline in fair value due to a 200 bps adverse change $ (189 ) $ (168 ) At June 30, 2017 , the sensitivity of the fair value of the TriNet servicing assets to immediate changes in key economic assumptions are presented in the table below . Sensitivity of the TriNet Servicing Assets June 30, 2017 December 31, 2016 (dollars in thousands) Fair value of retained servicing assets $ 788 $ 840 Weighted average life 8.44 years 8.47 years Prepayment speed: 5.00 % 5.00 % Decline in fair value due to a 10% adverse change $ (8 ) $ (12 ) Decline in fair value due to a 20% adverse change $ (23 ) $ (24 ) Weighted average discount rate 8.00 % 8.00 % Decline in fair value due to a 100 bps adverse change $ (22 ) $ (25 ) Decline in fair value due to a 200 bps adverse change $ (43 ) $ (49 ) |
Other Comprehensive Income (L30
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables present a summary of the changes in accumulated other comprehensive income (loss) balances for the applicable periods. For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2017 Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount (in thousands) Accumulated other comprehensive income (loss) beginning of period $ (8,790 ) $ 3,383 $ (5,407 ) $ (9,144 ) $ 3,519 $ (5,625 ) Unrealized net gains (losses) on investment securities available-for-sale 5,069 (1,951 ) 3,118 5,660 (2,178 ) 3,482 Reclassification adjustment for net realized gains (losses) on investment securities available-for-sale — — — — — — Unrealized net gains (losses) on derivatives 31 (12 ) 19 (206 ) 79 (127 ) Accumulated other comprehensive income (loss) end of period $ (3,690 ) $ 1,420 $ (2,270 ) $ (3,690 ) $ 1,420 $ (2,270 ) For the Three Months Ended For the Six Months Ended June 30, 2016 June 30, 2016 Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount Pre-Tax Amount Income Tax (Expense) Benefit After-Tax Amount (in thousands) Accumulated other comprehensive income (loss) beginning of period $ 2,724 $ (1,052 ) $ 1,672 $ (2,455 ) $ 939 $ (1,516 ) Unrealized net gains (losses) on investment securities available-for-sale 2,703 (1,043 ) 1,660 6,978 (2,683 ) 4,295 Reclassification adjustment for net realized gains on investment securities available-for-sale (11 ) 4 (7 ) (44 ) 17 (27 ) Unrealized net gains (losses) on derivatives 275 (106 ) 169 1,212 (470 ) 742 Accumulated other comprehensive income (loss) end of period $ 5,691 $ (2,197 ) $ 3,494 $ 5,691 $ (2,197 ) $ 3,494 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | The following table represents the earnings per share calculations for the three and six months ended June 30, 2017 and 2016 . Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 (in thousands, except share and per share amounts) Net income available to common shareholders $ 4,329 $ 5,147 $ 7,559 $ 8,078 Weighted average shares outstanding Basic (1) 25,621,910 24,644,755 25,472,132 24,565,328 Effect of dilutive securities: Stock options and warrants 209,371 513,939 281,501 517,640 Diluted 25,831,281 25,158,694 25,753,633 25,082,968 Income per common share: Basic $ 0.17 $ 0.21 $ 0.30 $ 0.33 Diluted $ 0.17 $ 0.20 $ 0.29 $ 0.32 (1) Unvested restricted shares are participating securities and included in basic share calculations. |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments | The following table reflects the estimated fair value positions of derivative contracts and credit risk participation agreements as of June 30, 2017 and December 31, 2016 : Derivatives designated as hedging instruments under ASC 815 (in thousands) June 30, 2017 December 31, 2016 Interest Rate Products Balance Sheet Location Notional Amount Fair Value Notional Amount Fair Value Cash flow hedge of LIBOR based loans Other assets $ 25,000 $ 38 $ 50,000 $ 186 Cash flow hedge of LIBOR based loans Other liabilities $ 25,000 $ 1 $ — $ — Derivatives not designated as hedging instruments under ASC 815 (in thousands) June 30, 2017 December 31, 2016 Interest Rate Products Balance Sheet Location Notional Amount Fair Value Notional Amount Fair Value Customer swap positions Other assets $ 70,476 $ 1,262 $ 70,352 $ 1,364 Zero premium collar Other assets 96,396 2,850 98,697 2,760 $ 166,872 $ 4,112 $ 169,049 $ 4,124 Dealer offsets to customer swap positions Other liabilities $ 70,476 $ 1,306 $ 70,352 $ 1,371 Credit risk participation Other liabilities 16,304 6 4,460 — Dealer offset to zero premium collar Other liabilities 96,396 2,931 98,697 2,760 $ 183,176 $ 4,243 $ 173,509 $ 4,131 The following table reflects the impact to the Consolidated Statements of Income related to derivative contracts for the three and six months ended June 30, 2017 and 2016 : Derivatives in Cash Flow Hedging Relationships Three Months Ended June 30, Six Months Ended June 30, (in thousands) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Gain or (Loss) Reclassified from Accumulated OCI in Income (Effective Portion) Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Gain or (Loss) Reclassified from Accumulated OCI in Income (Effective Portion) 2017 2016 Location 2017 2016 2017 2016 Location 2017 2016 Interest rate swaps $ 19 $ 169 Interest income $ 110 $ 183 $ (127 ) $ 742 Interest income $ 247 $ 369 |
Other Borrowings and Long Ter33
Other Borrowings and Long Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments and Borrowings | Subordinated debt is summarized as follows. June 30, 2017 December 31, 2016 (in thousands Floating rate 10 year capital securities, with interest paid semi-annually at an annual fixed rate of 6.25% until September 30, 2020 $ 50,000 $ 50,000 Principal amount of subordinated debt $ 50,000 $ 50,000 Less debt issuance costs 549 634 Subordinated debt, net $ 49,451 $ 49,366 Federal Home Loan Bank borrowings as of June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 December 31, 2016 Balance Interest Rate Balance Interest Rate (in thousands) (in thousands) FHLB short-term borrowings: FHLB short-term borrowings: Fixed rate advance maturing July 3, 2017 25,000 1.02 % Fixed rate advance maturing January 17, 2017 40,000 0.64 % Fixed rate advance maturing July 20, 2017 40,000 1.16 % Fixed rate advance maturing January 24, 2017 40,000 0.61 % Fixed rate advance maturing July 24, 2017 35,000 1.16 % Fixed rate advance maturing January 30, 2017 30,000 0.62 % Fixed rate advance maturing July 24, 2017 40,000 1.17 % Total $ 110,000 Fixed rate advance maturing July 27, 2017 40,000 1.17 % Total $ 180,000 Federal Funds purchased and securities sold under agreements to repurchase Federal Funds purchased and securities sold under agreements to repurchase Federal Funds purchased 15,000 1.28%- 1.31% Federal Funds purchased — — % Total Short-Term Borrowings $ 195,000 Total Short-Term Borrowings $ 110,000 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity | The following table represents stock option and warrant activity for the six months ended June 30, 2017 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, December 31, 2016 1,485,704 $ 11.69 Exercised (694,984 ) 10.48 Forfeited (628 ) 10.31 Expired (635 ) 126.22 Outstanding, June 30, 2017 789,457 $ 12.61 6.02 $ 5,274 Exercisable, June 30, 2017 513,515 $ 11.72 4.99 $ 3,926 |
Schedule of Share-based Compensation, Restricted Stock Award Activity | The following table represents restricted stock activity for the six months ended June 30, 2017 : Shares Weighted Average Grant-Date Fair Value Outstanding, December 31, 2016 259,165 $ 13.70 Granted 61,715 18.72 Vested (58,309 ) 12.25 Forfeited (26,875 ) 14.57 Outstanding, June 30, 2017 235,696 $ 15.27 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities, Measured on Recurring Basis | The following table presents the assets that were measured at fair value on a recurring basis by level within the fair value hierarchy as reported in the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 . Fair Value Measurements at June 30, 2017 Using: Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (in thousands) Securities available-for-sale— U.S. government agencies $ — $ 35,125 $ — $ 35,125 U.S. states and political subdivisions — 94,168 — 94,168 Trust preferred securities — 4,688 — 4,688 Corporate debt securities — 19,220 — 19,220 Mortgage-backed securities — 297,072 — 297,072 Total securities available-for-sale $ — $ 450,273 $ — $ 450,273 Interest rate derivative assets $ — $ 4,150 $ — $ 4,150 Interest rate derivative liabilities $ — $ 4,244 $ — $ 4,244 Fair Value Measurements at December 31, 2016 Using: Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (in thousands) Securities available-for-sale— U.S. government agencies $ — $ 21,152 $ — $ 21,152 U.S. states and political subdivisions — 90,172 — 90,172 Trust preferred securities — 4,525 — 4,525 Corporate debt securities — 19,231 — 19,231 Mortgage-backed securities — 212,625 — 212,625 Total securities available-for-sale $ — $ 347,705 $ — $ 347,705 Interest rate derivative assets $ — $ 4,310 $ — $ 4,310 Interest rate derivative liabilities $ — $ 4,131 $ — $ 4,131 |
Fair Value Measurements, Nonrecurring | The following table presents the assets that were measured at fair value on a nonrecurring basis by level within the fair value hierarchy as reported in the Consolidated Balance Sheets at June 30, 2017 and December 31, 2016 . June 30, 2017 Level 1 Fair Value Measurement Level 2 Fair Value Measurement Level 3 Fair Value Measurement Total (in thousands) Impaired Loans $ — $ — $ 7,655 $ 7,655 December 31, 2016 Level 1 Fair Value Measurement Level 2 Fair Value Measurement Level 3 Fair Value Measurement Total (in thousands) Impaired Loans $ — $ — $ 7,248 $ 7,248 |
Fair Value Measurements, Recurring and Nonrecurring | The following table presents the estimated fair values of Atlantic Capital’s financial instruments at June 30, 2017 and December 31, 2016 . Fair Value Measurements at June 30, 2017 Using: Carrying Value Quoted Prices in Active markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Financial assets Cash and due from banks $ 45,008 $ 45,008 $ — $ — Interest bearing deposits in banks 36,171 36,171 — — Other short-term investments 17,459 17,459 — — Total securities available-for-sale 450,273 — 450,273 — FHLB stock 10,126 — — 10,126 Federal Reserve Bank stock 9,781 — — 9,781 Loans held for investment, net 1,940,221 — — 1,999,159 Loans held for sale 1,744 — 1,744 — Derivative assets 4,150 — 4,150 — Financial liabilities Deposits $ 2,113,954 $ — $ 2,006,800 $ — Federal funds purchased and securities sold under agreements to repurchase 15,000 15,000 — — Subordinated debt 49,451 — 50,007 — FHLB advances 180,000 — 180,012 — Derivative financial instruments 4,244 — 4,244 — Fair Value Measurements at December 31, 2016 Using: Carrying Value Quoted Prices in Active markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Financial assets Cash and due from banks $ 36,790 $ 36,790 $ — $ — Interest-bearing deposits in other banks 118,039 118,039 — — Other short-term investments 10,896 10,896 — — Total securities available-for-sale 347,705 — 347,705 — FHLB stock 7,067 — — 7,067 Federal Reserve Bank stock 9,690 — — 9,690 Loans held for investment, net 1,960,735 — — 1,939,895 Loans held for sale 35,219 — 35,219 — Derivative assets 4,310 — 4,310 — Financial liabilities Deposits $ 2,205,991 $ — $ 2,144,196 $ — Deposits to be assumed in branch sale 31,589 — 31,589 — Subordinated debt 49,366 — 48,971 — FHLB advances 110,000 — 109,946 — Derivative financial instruments 4,131 — 4,131 — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Exposure to Credit Risk By Commitment | Atlantic Capital’s maximum exposure to credit risk for unfunded loan commitments and standby letters of credit at June 30, 2017 and December 31, 2016 was as follows: June 30, December 31, (in thousands) Financial Instruments whose contract amount represents credit risk: Commitments to extend credit $ 631,250 $ 617,432 Standby letters of credit 15,925 16,625 $ 647,175 $ 634,057 |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Details) $ in Thousands | Dec. 09, 2016USD ($)branch | Dec. 17, 2015USD ($)branchagreement | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Oct. 31, 2015USD ($)branch |
Business Acquisition [Line Items] | |||||||
Number of agreements to sell branch assets | agreement | 2 | ||||||
Number of branches held for sale | branch | 7 | ||||||
Gain on disposition of business | $ 3,900 | $ 302 | $ 3,885 | ||||
Decrease in deposits | $ (21,900) | (191,000) | $ (101,062) | 86,334 | |||
Decrease in loans | (34,700) | ||||||
Decrease in other assets | (8,600) | ||||||
Write-off for intangibles | 300 | 2,000 | |||||
Decrease in deposit premium | 106 | $ 344 | |||||
Dispositions expense | $ 38 | $ 305 | |||||
Change in finance receivables and other noncurrent assets | $ (27,300) | ||||||
Cleveland, Tennessee | |||||||
Business Acquisition [Line Items] | |||||||
Number of branches held for sale | branch | 1 | ||||||
Gain on disposition of business | $ 302 | ||||||
Gross gain on disposition of business | $ 533 | ||||||
First Security Group, Inc | |||||||
Business Acquisition [Line Items] | |||||||
Business combination, loans acquired | $ 801,100 | ||||||
Business combinations, deposits assumed | $ 970,000 | ||||||
Merger-related costs | $ 304 | $ 1,200 | $ 2,000 | ||||
First Security Group, Inc | Georgia and Tennessee | |||||||
Business Acquisition [Line Items] | |||||||
Number of branches | branch | 25 | ||||||
Athens Federal | |||||||
Business Acquisition [Line Items] | |||||||
Number of branches held for sale | branch | 4 | ||||||
Sale premium for branches held for sale, rate | 3.50% | ||||||
First Freedom | |||||||
Business Acquisition [Line Items] | |||||||
Number of branches held for sale | branch | 3 | ||||||
Sale premium for branches held for sale, rate | 2.25% |
Balance Sheet Offsetting (Detai
Balance Sheet Offsetting (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Offsetting Securities Purchased under Agreements to Resell [Abstract] | ||
Reverse repurchase agreements, Gross amounts of recognized assets | $ 17,459 | $ 10,896 |
Reverse repurchase agreements, Gross amounts offset on the Balance Sheet | 0 | 0 |
Reversed repurchase agreements, Net asset balance | 17,459 | 10,896 |
Reverse repurchase agreements, Financial instruments | (17,459) | (10,896) |
Reverse repurchase agreements, Cash collateral received | 0 | 0 |
Reverse repurchase agreements, Net amount | 0 | 0 |
Offsetting Derivative Assets [Abstract] | ||
Derivatives, Gross amounts of recognized assets | 4,150 | 4,310 |
Derivatives, Gross amounts offset on the Balance Sheet | 0 | 0 |
Derivatives, Net asset balance | 4,150 | 4,310 |
Derivatives, Financial instruments | 0 | 0 |
Derivatives, Cash collateral received | 0 | 0 |
Derivatives, Net amount | 4,150 | 4,310 |
Offsetting Derivative Asset, Securities Purchased under Agreements to Resell, Securities Borrowed [Abstract] | ||
Total, Gross amounts of recognized assets | 21,609 | 15,206 |
Total, Gross amounts offset on the Balance Sheet | 0 | 0 |
Total, Net asset balance | 21,609 | 15,206 |
Total, Financial instruments | (17,459) | (10,896) |
Total, Cash Cash collateral received | 0 | 0 |
Total, Net amount | 4,150 | 4,310 |
Offsetting Securities Sold under Agreements to Repurchase [Abstract] | ||
Repurchase agreements, Gross amounts of recognized liability | 0 | 0 |
Repurchase agreements, Gross amounts offset on the Balance Sheet | 0 | 0 |
Repurchase agreements, Net liability balance | 0 | 0 |
Repurchase agreements, Financial instruments | 0 | 0 |
Repurchase agreements, Cash collateral pledged | 0 | 0 |
Repurchase agreements, Net amount | 0 | 0 |
Offsetting Derivative Liabilities [Abstract] | ||
Derivative, Gross amounts of recognized liability | 4,244 | 4,131 |
Derivatives, Gross amounts offset on the Balance Sheet | 0 | 0 |
Derivative, Net liability balance | 4,244 | 4,131 |
Derivatives, Financial instruments | (2,929) | (1,818) |
Derivatives, Cash collateral pledged | (1,315) | (2,313) |
Derivatives, Net amount | 0 | 0 |
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract] | ||
Total, Gross amounts of recognized liability | 4,244 | 4,131 |
Total, Gross amounts offset on the Balance Sheet | 0 | 0 |
Total, Net liability balance | 4,244 | 4,131 |
Total, Financial instruments | (2,929) | (1,818) |
Total, Cash collateral pledged | (1,315) | (2,313) |
Total, Net amount | $ 0 | $ 0 |
Securities (Securities Availabl
Securities (Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 454,253 | $ 357,345 |
Gross Unrealized Gains | 3,657 | 2,926 |
Gross Unrealized Losses | (7,637) | (12,566) |
Fair Value | 450,273 | 347,705 |
U.S. Government agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 35,299 | 21,485 |
Gross Unrealized Gains | 105 | 24 |
Gross Unrealized Losses | (279) | (357) |
Fair Value | 35,125 | 21,152 |
U.S. states and political subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 97,502 | 96,908 |
Gross Unrealized Gains | 316 | 141 |
Gross Unrealized Losses | (3,650) | (6,877) |
Fair Value | 94,168 | 90,172 |
Trust preferred securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,741 | 4,727 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (53) | (202) |
Fair Value | 4,688 | 4,525 |
Corporate debt securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 19,777 | 19,928 |
Gross Unrealized Gains | 119 | 72 |
Gross Unrealized Losses | (676) | (769) |
Fair Value | 19,220 | 19,231 |
Residential mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 296,934 | 214,297 |
Gross Unrealized Gains | 3,117 | 2,689 |
Gross Unrealized Losses | (2,979) | (4,361) |
Fair Value | $ 297,072 | $ 212,625 |
Securities (Maturities) (Detail
Securities (Maturities) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized Cost | ||
Within 1 year | $ 4,140 | |
Over 1 year through 5 years | 17,642 | |
5 years to 10 years | 60,990 | |
Over 10 years | 74,547 | |
Total with Single Maturity Date | 157,319 | |
Residential mortgage-backed securities | 296,934 | |
Total | 454,253 | |
Fair Value | ||
Within 1 year | 4,141 | |
Over 1 year through 5 years | 17,472 | |
5 years to 10 years | 60,448 | |
Over 10 years | 71,140 | |
Total with Single Maturity Date | 153,201 | |
Residential mortgage-backed securities | 297,072 | |
Total | $ 450,273 | $ 347,705 |
Securities (Unrealized Losses -
Securities (Unrealized Losses - Available-For-Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | $ 206,325 | $ 259,053 |
12 months or greater, fair value | 86,094 | 39,956 |
Total fair value | 292,419 | 299,009 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | (5,115) | (11,140) |
12 months or greater, unrealized losses | (2,522) | (1,426) |
Total unrealized losses | (7,637) | (12,566) |
U.S. Government agencies | ||
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | 24,547 | 12,250 |
12 months or greater, fair value | 2,673 | 2,881 |
Total fair value | 27,220 | 15,131 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | (207) | (263) |
12 months or greater, unrealized losses | (72) | (94) |
Total unrealized losses | (279) | (357) |
U.S. states and political divisions | ||
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | 75,219 | 87,511 |
12 months or greater, fair value | 3,136 | 0 |
Total fair value | 78,355 | 87,511 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | (3,552) | (6,877) |
12 months or greater, unrealized losses | (98) | 0 |
Total unrealized losses | (3,650) | (6,877) |
Trust preferred securities | ||
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | 0 | 0 |
12 months or greater, fair value | 4,688 | 4,525 |
Total fair value | 4,688 | 4,525 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | 0 | 0 |
12 months or greater, unrealized losses | (53) | (202) |
Total unrealized losses | (53) | (202) |
Corporate debt securities | ||
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | 0 | 7,886 |
12 months or greater, fair value | 5,869 | 0 |
Total fair value | 5,869 | 7,886 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | 0 | (769) |
12 months or greater, unrealized losses | (676) | 0 |
Total unrealized losses | (676) | (769) |
Residential mortgage-backed securities | ||
Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months, fair value | 106,559 | 151,406 |
12 months or greater, fair value | 69,728 | 32,550 |
Total fair value | 176,287 | 183,956 |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months, unrealized losses | (1,356) | (3,231) |
12 months or greater, unrealized losses | (1,623) | (1,130) |
Total unrealized losses | $ (2,979) | $ (4,361) |
Securities (Narrative) (Details
Securities (Narrative) (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)security | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)security | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Investments, Debt and Equity Securities [Abstract] | |||||
Available-for-sale securities in unrealized loss positions (security) | security | 248 | 248 | |||
Impairment charges | $ 0 | $ 0 | $ 0 | $ 0 | |
Investment securities pledged to secure borrowings | $ 99,300,000 | $ 99,300,000 | $ 104,900,000 |
Securities (Sales) (Details)
Securities (Sales) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sales | $ 0 | $ 60,150 | $ 0 | $ 65,103 |
Gross realized gains | 0 | 416 | 0 | 449 |
Gross realized losses | 0 | (405) | 0 | (405) |
Net gains on sales of securities | $ 0 | $ 11 | $ 0 | $ 44 |
Loans and Allowance for Loan 44
Loans and Allowance for Loan Losses (Summary of Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Branch loans held for sale | $ 0 | $ 30,917 | ||||
Other loans held for sale | 1,744 | 4,302 | ||||
Total loans held for sale | 1,744 | 35,219 | ||||
Loans | 1,966,374 | 1,984,892 | ||||
Less net deferred fees and other unearned income | (4,283) | (3,562) | ||||
Less allowance for loan losses | (21,870) | $ (19,939) | (20,595) | $ (18,377) | $ (17,608) | $ (18,905) |
Loans held for investment, net | 1,940,221 | 1,960,735 | ||||
Residential mortgages | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 101,798 | 101,921 | ||||
Home equity | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 79,769 | 77,358 | ||||
Other | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 18,013 | 21,565 | ||||
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 1,734,813 | 1,756,710 | ||||
Less allowance for loan losses | (20,692) | (18,101) | (18,717) | (16,469) | (15,613) | (16,537) |
Commercial | Commercial and industrial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 578,888 | 531,061 | ||||
Commercial | Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 982,875 | 858,778 | ||||
Commercial | Construction and land | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 125,058 | 219,352 | ||||
Commercial | Mortgage warehouse participations | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 47,992 | 147,519 | ||||
Residential | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 181,567 | 179,279 | ||||
Less allowance for loan losses | (860) | (1,406) | (1,418) | (1,389) | (1,502) | (1,981) |
Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans | 31,981 | 27,338 | ||||
Less allowance for loan losses | $ (318) | $ (432) | $ (460) | $ (519) | $ (493) | $ (387) |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral | $ 458,900 | $ 474,800 |
Carrying value of loans | 1,966,374 | 1,984,892 |
Accretable yield | 3,000 | 3,900 |
Troubled debt restructurings | 6,100 | 6,600 |
PCI Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value of loans | 11,510 | 15,253 |
Loans receivable | 14,500 | 18,700 |
Commercial real estate | PCI Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value of loans | 3,777 | 3,770 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value of loans | 1,734,813 | 1,756,710 |
Commercial | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value of loans | 982,875 | 858,778 |
Additional loan amounts | $ 483 | $ 387 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses (Accretable Yield Movement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 3,369 | $ 2,088 | $ 3,467 | $ 2,369 |
Additions due to acquisitions | 0 | 0 | 0 | 0 |
Accretion | (334) | (262) | (779) | (543) |
Reclassification of nonaccretable discount due to improvement in expected cash flows | 92 | 0 | 344 | 0 |
Other changes, net | 3 | 0 | 98 | 0 |
Balance at end of period | $ 3,130 | $ 1,826 | $ 3,130 | $ 1,826 |
Loans and Allowance for Loan 47
Loans and Allowance for Loan Losses (Allowance Rollforward) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | $ 19,939 | $ 17,608 | $ 20,595 | $ 18,905 |
Provision for loan losses | 1,980 | 777 | 2,614 | 1,145 |
Loans charged-off | (65) | (68) | (1,356) | (1,819) |
Recoveries | 16 | 60 | 17 | 146 |
Total ending allowance balance | 21,870 | 18,377 | 21,870 | 18,377 |
Commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 18,101 | 15,613 | 18,717 | 16,537 |
Provision for loan losses | 2,582 | 861 | 2,879 | 1,525 |
Loans charged-off | 0 | (5) | (913) | (1,610) |
Recoveries | 9 | 0 | 9 | 17 |
Total ending allowance balance | 20,692 | 16,469 | 20,692 | 16,469 |
Residential | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 1,406 | 1,502 | 1,418 | 1,981 |
Provision for loan losses | (540) | (88) | (506) | (567) |
Loans charged-off | (8) | (25) | (54) | (25) |
Recoveries | 2 | 0 | 2 | 0 |
Total ending allowance balance | 860 | 1,389 | 860 | 1,389 |
Consumer | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 432 | 493 | 460 | 387 |
Provision for loan losses | (62) | 4 | 241 | 187 |
Loans charged-off | (57) | (38) | (389) | (184) |
Recoveries | 5 | 60 | 6 | 129 |
Total ending allowance balance | $ 318 | $ 519 | $ 318 | $ 519 |
Loans and Allowance for Loan 48
Loans and Allowance for Loan Losses (Allowance Additional Information) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Individually evaluated for impairment | $ 3,249 | $ 2,684 |
Allowance for loan losses, Collectively evaluated for impairment | 18,546 | 17,837 |
Allowance for loan losses, PCI | 75 | 74 |
Allowance for loan losses, Total ending allowance balance | 21,870 | 20,595 |
Loans, Individually evaluated for impairment | 17,799 | 14,085 |
Loans, Collectively evaluated for impairment | 1,937,065 | 1,955,554 |
Loans, PCI | 11,510 | 15,253 |
Loans, Total ending allowance balance | 1,966,374 | 1,984,892 |
Commercial | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Individually evaluated for impairment | 3,249 | 2,626 |
Allowance for loan losses, Collectively evaluated for impairment | 17,370 | 16,018 |
Allowance for loan losses, PCI | 73 | 73 |
Allowance for loan losses, Total ending allowance balance | 20,692 | 18,717 |
Loans, Individually evaluated for impairment | 16,931 | 13,687 |
Loans, Collectively evaluated for impairment | 1,709,411 | 1,732,324 |
Loans, PCI | 8,471 | 10,699 |
Loans, Total ending allowance balance | 1,734,813 | 1,756,710 |
Residential | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Individually evaluated for impairment | 0 | 58 |
Allowance for loan losses, Collectively evaluated for impairment | 860 | 1,360 |
Allowance for loan losses, PCI | 0 | 0 |
Allowance for loan losses, Total ending allowance balance | 860 | 1,418 |
Loans, Individually evaluated for impairment | 868 | 398 |
Loans, Collectively evaluated for impairment | 177,669 | 174,338 |
Loans, PCI | 3,030 | 4,543 |
Loans, Total ending allowance balance | 181,567 | 179,279 |
Consumer | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Individually evaluated for impairment | 0 | 0 |
Allowance for loan losses, Collectively evaluated for impairment | 316 | 459 |
Allowance for loan losses, PCI | 2 | 1 |
Allowance for loan losses, Total ending allowance balance | 318 | 460 |
Loans, Individually evaluated for impairment | 0 | 0 |
Loans, Collectively evaluated for impairment | 49,985 | 48,892 |
Loans, PCI | 9 | 11 |
Loans, Total ending allowance balance | $ 49,994 | $ 48,903 |
Loans and Allowance for Loan 49
Loans and Allowance for Loan Losses (Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | $ 8,370 | $ 3,400 | $ 8,370 | $ 3,400 |
Impaired loans with an allowance recorded, Unpaid principal balance | 9,701 | 1,737 | 9,701 | 1,737 |
Total impaired loans, Unpaid principal balance | 18,071 | 5,137 | 18,071 | 5,137 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 8,098 | 3,259 | 8,098 | 3,259 |
Impaired loans with an allowance recorded, Recorded investment | 9,701 | 1,737 | 9,701 | 1,737 |
Total impaired loans, Recorded investment | 17,799 | 4,996 | 17,799 | 4,996 |
Impaired loans with an allowance recorded, Related allowance | 3,249 | 651 | 3,249 | 651 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 8,108 | 3,224 | 8,692 | 3,187 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 9,742 | 1,737 | 9,785 | 1,737 |
Total impaired loans, Average balance of recorded investment while impaired | 17,850 | 4,961 | 18,477 | 4,924 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 33 | 57 | 50 | 93 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 144 | 6 | 259 | 27 |
Total impaired loans, Interest income recognized during impairment | 177 | 63 | 309 | 120 |
Commercial | Commercial and industrial | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 4,962 | 2,843 | 4,962 | 2,843 |
Impaired loans with an allowance recorded, Unpaid principal balance | 9,122 | 78 | 9,122 | 78 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 4,899 | 2,843 | 4,899 | 2,843 |
Impaired loans with an allowance recorded, Recorded investment | 9,122 | 78 | 9,122 | 78 |
Impaired loans with an allowance recorded, Related allowance | 3,106 | 390 | 3,106 | 390 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 4,866 | 2,811 | 5,346 | 2,774 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 9,160 | 78 | 9,200 | 78 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 13 | 36 | 30 | 72 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 138 | 0 | 246 | 0 |
Commercial | Commercial real estate | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 2,494 | 557 | 2,494 | 557 |
Impaired loans with an allowance recorded, Unpaid principal balance | 579 | 1,659 | 579 | 1,659 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 2,331 | 416 | 2,331 | 416 |
Impaired loans with an allowance recorded, Recorded investment | 579 | 1,659 | 579 | 1,659 |
Impaired loans with an allowance recorded, Related allowance | 143 | 261 | 143 | 261 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 2,361 | 413 | 2,439 | 413 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 582 | 1,659 | 585 | 1,659 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 20 | 21 | 20 | 21 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 6 | 6 | 13 | 27 |
Commercial | Construction and land | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Related allowance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Commercial | Mortgage warehouse participations | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Related allowance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Residential | Residential mortgages | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 380 | 0 | 380 | 0 |
Impaired loans with an allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 334 | 0 | 334 | 0 |
Impaired loans with an allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Related allowance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 340 | 0 | 366 | 0 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Residential | Home equity | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 534 | 0 | 534 | 0 |
Impaired loans with an allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 534 | 0 | 534 | 0 |
Impaired loans with an allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Related allowance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 541 | 0 | 541 | 0 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Consumer | ||||
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||||
Impaired loans with no related allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid principal balance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Recorded investment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Related allowance | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||||
Impaired loans with no related allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Average balance of recorded investment while impaired | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||||
Impaired loans with no related allowance recorded, Interest income recognized during impairment | 0 | 0 | 0 | 0 |
Impaired loans with an allowance recorded, Interest income recognized during impairment | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 50
Loans and Allowance for Loan Losses (Risk Category of Loan by Class of Loan) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | $ 1,966,374 | $ 1,984,892 |
Non-PCI Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,954,864 | 1,969,639 |
Non-PCI Loans | Pass | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,885,676 | 1,921,412 |
Non-PCI Loans | Special Mention | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 18,404 | 14,406 |
Non-PCI Loans | Substandard | Accruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 38,875 | 33,200 |
Non-PCI Loans | Substandard | Nonaccruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 11,909 | 150 |
Non-PCI Loans | Doubtful | Nonaccruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 471 |
PCI Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 11,510 | 15,253 |
PCI Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 4,254 | 6,411 |
PCI Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 3,777 | 3,770 |
PCI Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 440 | 518 |
PCI Loans | Pass | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 6,846 | 5,780 |
PCI Loans | Pass | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 3,200 | 4,650 |
PCI Loans | Pass | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 3,099 | 477 |
PCI Loans | Pass | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 396 | 229 |
PCI Loans | Special Mention | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 2,081 | 2,613 |
PCI Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 272 | 299 |
PCI Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 250 | 240 |
PCI Loans | Special Mention | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 7 | 8 |
PCI Loans | Substandard | Accruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 2,461 | 5,201 |
PCI Loans | Substandard | Accruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 782 | 614 |
PCI Loans | Substandard | Accruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 306 | 2,716 |
PCI Loans | Substandard | Accruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 37 | 281 |
PCI Loans | Substandard | Nonaccruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
PCI Loans | Substandard | Nonaccruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
PCI Loans | Substandard | Nonaccruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
PCI Loans | Substandard | Nonaccruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
PCI Loans | Doubtful | Nonaccruing Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 122 | 1,659 |
PCI Loans | Doubtful | Nonaccruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 848 |
PCI Loans | Doubtful | Nonaccruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 122 | 337 |
PCI Loans | Doubtful | Nonaccruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,734,813 | 1,756,710 |
Commercial | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 578,888 | 531,061 |
Commercial | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 982,875 | 858,778 |
Commercial | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 125,058 | 219,352 |
Commercial | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 47,992 | 147,519 |
Commercial | Non-PCI Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 574,634 | 524,650 |
Commercial | Non-PCI Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 979,098 | 855,008 |
Commercial | Non-PCI Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 124,618 | 218,834 |
Commercial | Non-PCI Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 47,992 | 147,519 |
Commercial | Non-PCI Loans | Pass | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 529,268 | 494,617 |
Commercial | Non-PCI Loans | Pass | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 964,573 | 843,924 |
Commercial | Non-PCI Loans | Pass | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 119,876 | 213,981 |
Commercial | Non-PCI Loans | Pass | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 47,992 | 147,519 |
Commercial | Non-PCI Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 4,882 | 3,160 |
Commercial | Non-PCI Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 7,254 | 5,513 |
Commercial | Non-PCI Loans | Special Mention | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 4,722 | 4,789 |
Commercial | Non-PCI Loans | Special Mention | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | Non-PCI Loans | Substandard | Accruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 32,249 | 26,399 |
Commercial | Non-PCI Loans | Substandard | Accruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 4,961 | 5,571 |
Commercial | Non-PCI Loans | Substandard | Accruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 64 |
Commercial | Non-PCI Loans | Substandard | Accruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | Non-PCI Loans | Substandard | Nonaccruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 8,235 | 3 |
Commercial | Non-PCI Loans | Substandard | Nonaccruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 2,310 | 0 |
Commercial | Non-PCI Loans | Substandard | Nonaccruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 20 | 0 |
Commercial | Non-PCI Loans | Substandard | Nonaccruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | Non-PCI Loans | Doubtful | Nonaccruing Loans | Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 471 |
Commercial | Non-PCI Loans | Doubtful | Nonaccruing Loans | Commercial real estate | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | Non-PCI Loans | Doubtful | Nonaccruing Loans | Construction and land | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | Non-PCI Loans | Doubtful | Nonaccruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Pass | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Special Mention | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Substandard | Accruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Substandard | Nonaccruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Commercial | PCI Loans | Doubtful | Nonaccruing Loans | Mortgage warehouse participations | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Residential | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 181,567 | 179,279 |
Residential | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 101,798 | 101,921 |
Residential | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 79,769 | 77,358 |
Residential | Non-PCI Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 99,821 | 99,140 |
Residential | Non-PCI Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 78,716 | 75,596 |
Residential | Non-PCI Loans | Pass | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 96,824 | 97,660 |
Residential | Non-PCI Loans | Pass | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 77,461 | 75,031 |
Residential | Non-PCI Loans | Special Mention | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,407 | 586 |
Residential | Non-PCI Loans | Special Mention | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 42 | 168 |
Residential | Non-PCI Loans | Substandard | Accruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 959 | 747 |
Residential | Non-PCI Loans | Substandard | Accruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 500 | 397 |
Residential | Non-PCI Loans | Substandard | Nonaccruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 631 | 147 |
Residential | Non-PCI Loans | Substandard | Nonaccruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 713 | 0 |
Residential | Non-PCI Loans | Doubtful | Nonaccruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Residential | Non-PCI Loans | Doubtful | Nonaccruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Residential | PCI Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,977 | 2,781 |
Residential | PCI Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1,053 | 1,762 |
Residential | PCI Loans | Pass | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 117 | 59 |
Residential | PCI Loans | Pass | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 33 | 364 |
Residential | PCI Loans | Special Mention | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 902 | 1,232 |
Residential | PCI Loans | Special Mention | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 649 | 834 |
Residential | PCI Loans | Substandard | Accruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 958 | 1,016 |
Residential | PCI Loans | Substandard | Accruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 371 | 564 |
Residential | PCI Loans | Substandard | Nonaccruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Residential | PCI Loans | Substandard | Nonaccruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Residential | PCI Loans | Doubtful | Nonaccruing Loans | Residential mortgages | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 474 |
Residential | PCI Loans | Doubtful | Nonaccruing Loans | Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Consumer | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 49,994 | 48,903 |
Consumer | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 49,994 | 48,903 |
Consumer | Non-PCI Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 49,985 | 48,892 |
Consumer | Non-PCI Loans | Pass | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 49,682 | 48,680 |
Consumer | Non-PCI Loans | Special Mention | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 97 | 190 |
Consumer | Non-PCI Loans | Substandard | Accruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 206 | 22 |
Consumer | Non-PCI Loans | Substandard | Nonaccruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Consumer | Non-PCI Loans | Doubtful | Nonaccruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Consumer | PCI Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 9 | 11 |
Consumer | PCI Loans | Pass | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1 | 1 |
Consumer | PCI Loans | Special Mention | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 1 | 0 |
Consumer | PCI Loans | Substandard | Accruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 7 | 10 |
Consumer | PCI Loans | Substandard | Nonaccruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | 0 | 0 |
Consumer | PCI Loans | Doubtful | Nonaccruing Loans | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Financing receivable, gross | $ 0 | $ 0 |
Loans and Allowance for Loan 51
Loans and Allowance for Loan Losses (Financing Receivables Past Due) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | $ 1,941,830 | $ 1,960,222 |
Nonaccruing | 11,909 | 621 |
Loans, Total ending allowance balance | 1,966,374 | 1,984,892 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 1,734,813 | 1,756,710 |
Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 565,802 | 520,908 |
Nonaccruing | 8,235 | 474 |
Loans, Total ending allowance balance | 578,888 | 531,061 |
Commercial | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 976,640 | 852,626 |
Nonaccruing | 2,310 | 0 |
Loans, Total ending allowance balance | 982,875 | 858,778 |
Commercial | Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 124,598 | 218,290 |
Nonaccruing | 20 | 0 |
Loans, Total ending allowance balance | 125,058 | 219,352 |
Commercial | Mortgage warehouse participations | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 47,992 | 147,519 |
Nonaccruing | 0 | 0 |
Loans, Total ending allowance balance | 47,992 | 147,519 |
Residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 181,567 | 179,279 |
Residential | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 98,851 | 97,901 |
Nonaccruing | 631 | 147 |
Loans, Total ending allowance balance | 101,798 | 101,921 |
Residential | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 77,963 | 74,420 |
Nonaccruing | 713 | 0 |
Loans, Total ending allowance balance | 79,769 | 77,358 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 49,994 | 48,903 |
Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 49,984 | 48,558 |
Nonaccruing | 0 | 0 |
Loans, Total ending allowance balance | 49,994 | 48,903 |
Accruing 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 734 | 7,802 |
Accruing 30-89 Days Past Due | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 472 | 3,079 |
Accruing 30-89 Days Past Due | Commercial | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 2,382 |
Accruing 30-89 Days Past Due | Commercial | Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 544 |
Accruing 30-89 Days Past Due | Commercial | Mortgage warehouse participations | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 0 |
Accruing 30-89 Days Past Due | Residential | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 261 | 664 |
Accruing 30-89 Days Past Due | Residential | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 884 |
Accruing 30-89 Days Past Due | Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 1 | 249 |
Accruing 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 391 | 994 |
Accruing 90 Days Past Due | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 125 | 189 |
Accruing 90 Days Past Due | Commercial | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 148 | 0 |
Accruing 90 Days Past Due | Commercial | Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 0 |
Accruing 90 Days Past Due | Commercial | Mortgage warehouse participations | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 0 |
Accruing 90 Days Past Due | Residential | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 78 | 428 |
Accruing 90 Days Past Due | Residential | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 40 | 292 |
Accruing 90 Days Past Due | Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing past due | 0 | 85 |
PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 11,510 | 15,253 |
Loans, Total ending allowance balance | 11,510 | 15,253 |
PCI Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 4,254 | 6,411 |
PCI Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 3,777 | 3,770 |
PCI Loans | Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, Total ending allowance balance | 440 | 518 |
PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 4,254 | 6,411 |
PCI Loans | Commercial | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 3,777 | 3,770 |
PCI Loans | Commercial | Construction and land | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 440 | 518 |
PCI Loans | Commercial | Mortgage warehouse participations | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 0 | 0 |
Loans, Total ending allowance balance | 0 | 0 |
PCI Loans | Residential | Residential mortgages | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 1,977 | 2,781 |
Loans, Total ending allowance balance | 1,977 | 2,781 |
PCI Loans | Residential | Home equity | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 1,053 | 1,762 |
Loans, Total ending allowance balance | 1,053 | 1,762 |
PCI Loans | Consumer | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Current | 9 | 11 |
Loans, Total ending allowance balance | $ 9 | $ 11 |
Goodwill and Intangible Asset52
Goodwill and Intangible Assets (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||||||||
Total other intangibles, net | $ 6,687,000 | $ 6,687,000 | $ 7,808,000 | |||||
Goodwill | 21,759,000 | $ 22,446,000 | 21,759,000 | $ 22,446,000 | $ 21,759,000 | 21,759,000 | $ 22,446,000 | $ 23,352,000 |
Total goodwill and other intangible assets, net | 28,446,000 | 28,446,000 | 29,567,000 | |||||
Goodwill purchase accounting adjustments | 0 | 0 | (906,000) | |||||
Goodwill impairment | 0 | 0 | 0 | 0 | ||||
Core Deposits | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Core deposit intangible | 9,544,000 | 9,544,000 | 9,544,000 | |||||
Less: accumulated amortization | (3,866,000) | (3,866,000) | (2,971,000) | |||||
Less: impairment related to divested branches | (2,286,000) | (2,286,000) | (1,949,000) | |||||
Core deposit intangible, net | 3,392,000 | 5,639,000 | 3,392,000 | 5,639,000 | $ 4,154,000 | 4,624,000 | $ 8,256,000 | $ 9,018,000 |
Servicing assets, net | 9,544,000 | 9,544,000 | 9,544,000 | |||||
Goodwill purchase accounting adjustments | $ 0 | $ 0 | ||||||
Servicing Assets | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Core deposit intangible | 3,295,000 | 3,295,000 | 3,184,000 | |||||
Servicing assets, net | $ 3,295,000 | $ 3,295,000 | $ 3,184,000 |
Goodwill and Intangible Asset53
Goodwill and Intangible Assets (Goodwill and Other Intangible Assets Activity) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill | ||||
Balance, beginning of period | $ 21,759 | $ 22,446 | $ 21,759 | $ 23,352 |
Measurement period adjustments | 0 | 0 | 906 | |
Balance, end of period | 21,759 | 22,446 | 21,759 | 22,446 |
Core Deposit Intangible | ||||
Amortization | (425) | (668) | (895) | (1,430) |
Intangible Assets, Net (Including Goodwill) [Abstract] | ||||
Balance, beginning of period | 25,913 | 30,702 | 26,383 | 32,370 |
Amortization | (425) | (668) | (895) | (1,430) |
Impairment, due to branch divestiture | (337) | (1,949) | (337) | (1,949) |
Measurement period adjustments | 0 | 0 | 906 | |
Balance, end of period | 25,151 | 28,085 | 25,151 | 28,085 |
Core Deposits | ||||
Goodwill | ||||
Measurement period adjustments | 0 | 0 | ||
Core Deposit Intangible | ||||
Balance, beginning of period | 4,154 | 8,256 | 4,624 | 9,018 |
Amortization | (425) | (668) | (895) | (1,430) |
Balance, end of period | 3,392 | 5,639 | 3,392 | 5,639 |
Intangible Assets, Net (Including Goodwill) [Abstract] | ||||
Amortization | (425) | (668) | (895) | (1,430) |
Impairment, due to branch divestiture | $ (337) | (1,949) | $ (337) | (1,949) |
Measurement period adjustments | $ 0 | $ 0 |
Servicing Assets (Narrative) (D
Servicing Assets (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Transfers and Servicing [Abstract] | ||
Loans sold and serviced | $ 122.8 | $ 107 |
Servicing Assets (SBA) (Details
Servicing Assets (SBA) (Details) - SBA Loan Servicing Assets - Commercial Loan - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
SBA Loan Servicing Rights | ||||
Beginning carrying value, net | $ 2,495 | $ 1,860 | $ 2,359 | $ 1,687 |
Additions | 326 | 359 | 593 | 561 |
Amortization | (257) | (102) | (388) | (131) |
Impairment | 0 | 0 | 0 | 0 |
Ending carrying value | $ 2,564 | $ 2,117 | $ 2,564 | $ 2,117 |
Servicing Assets (Sensitivity o
Servicing Assets (Sensitivity of the Fair Value to Immediate Changes in Key Economic Assumptions) (Details) - Commercial - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
SBA Loan Servicing Assets | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of retained servicing assets | $ 2,822 | $ 2,474 |
Weighted average life | 6 years 8 months 7 days | 6 years 6 months 8 days |
Prepayment speed: | 7.76% | 7.67% |
Decline in fair value due to a 10% adverse change | $ (100) | $ (89) |
Decline in fair value due to a 20% adverse change | $ (173) | $ (151) |
Weighted average discount rate | 12.22% | 12.27% |
Decline in fair value due to a 100 bps adverse change | $ (109) | $ (97) |
Decline in fair value due to a 200 bps adverse change | (189) | (168) |
TriNet Servicing Assets | ||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Fair value of retained servicing assets | $ 788 | $ 840 |
Weighted average life | 8 years 5 months 10 days | 8 years 5 months 20 days |
Prepayment speed: | 5.00% | 5.00% |
Decline in fair value due to a 10% adverse change | $ (8) | $ (12) |
Decline in fair value due to a 20% adverse change | $ (23) | $ (24) |
Weighted average discount rate | 8.00% | 8.00% |
Decline in fair value due to a 100 bps adverse change | $ (22) | $ (25) |
Decline in fair value due to a 200 bps adverse change | $ (43) | $ (49) |
Servicing Assets (TriNet) (Deta
Servicing Assets (TriNet) (Details) - TriNet Servicing Assets - Commercial Loan - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Servicing Rights | ||||
Beginning carrying value, net | $ 778 | $ 1,352 | $ 825 | $ 1,175 |
Additions | 0 | 179 | 0 | 406 |
Amortization | (47) | (60) | (94) | (110) |
Impairment | 0 | 0 | 0 | 0 |
Ending carrying value | $ 731 | $ 1,471 | $ 731 | $ 1,471 |
Other Comprehensive Income (L58
Other Comprehensive Income (Loss) (Summary of Changes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
After-Tax Amount | ||||
Accumulated other comprehensive income (loss) beginning of period | $ 303,658 | $ 287,992 | ||
Other comprehensive income, net of tax | $ 3,137 | $ 1,822 | 3,355 | 5,010 |
Accumulated other comprehensive income (loss) end of period | 319,435 | 304,066 | 319,435 | 304,066 |
Reclassification adjustment for net realized gains (losses) on investment securities available-for-sale | ||||
Pre-Tax Amount | ||||
Unrealized net gains (losses) on investment securities available-for-sale | 5,069 | 2,703 | 5,660 | 6,978 |
Reclassification adjustment for net realized gains (losses) on investment securities available-for-sale | 0 | (11) | 0 | (44) |
Income Tax (Expense) Benefit | ||||
Unrealized net gains (losses) on investment securities available-for-sale | (1,951) | (1,043) | (2,178) | (2,683) |
Reclassification adjustment for net realized gains (losses) on investment securities available-for-sale | 0 | 4 | 0 | 17 |
After-Tax Amount | ||||
Unrealized net gains (losses) on investment securities available-for-sale | 3,118 | 1,660 | 3,482 | 4,295 |
Reclassification adjustment for net realized gains on investment securities available-for-sale | 0 | (7) | 0 | (27) |
Unrealized net gains (losses) on derivatives | ||||
Pre-Tax Amount | ||||
Unrealized net gains (losses) on derivatives | 31 | 275 | (206) | 1,212 |
Income Tax (Expense) Benefit | ||||
Unrealized net gains (losses) on derivatives | (12) | (106) | 79 | (470) |
After-Tax Amount | ||||
Other comprehensive income, net of tax | 19 | 169 | (127) | 742 |
Accumulated Other Comprehensive Income (Loss) | ||||
Pre-Tax Amount | ||||
Accumulated other comprehensive income (loss) beginning of period | (8,790) | 2,724 | (9,144) | (2,455) |
Accumulated other comprehensive income (loss) end of period | (3,690) | 5,691 | (3,690) | 5,691 |
Income Tax (Expense) Benefit | ||||
Accumulated other comprehensive income (loss) beginning of period | 3,383 | (1,052) | 3,519 | 939 |
Accumulated other comprehensive income (loss) end of period | 1,420 | (2,197) | 1,420 | (2,197) |
After-Tax Amount | ||||
Accumulated other comprehensive income (loss) beginning of period | (5,407) | 1,672 | (5,625) | (1,516) |
Accumulated other comprehensive income (loss) end of period | $ (2,270) | $ 3,494 | $ (2,270) | $ 3,494 |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income available to common shareholders | $ 4,329 | $ 5,147 | $ 7,559 | $ 8,078 |
Weighted average shares outstanding | ||||
Basic (in shares) | 25,621,910 | 24,644,755 | 25,472,132 | 24,565,328 |
Effect of dilutive securities: | ||||
Stock options and warrants (in shares) | 209,371 | 513,939 | 281,501 | 517,640 |
Diluted (in shares) | 25,831,281 | 25,158,694 | 25,753,633 | 25,082,968 |
Income per common share: | ||||
Basic (in dollars per share) | $ 0.17 | $ 0.21 | $ 0.30 | $ 0.33 |
Diluted (in dollars per share) | $ 0.17 | $ 0.20 | $ 0.29 | $ 0.32 |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - shares | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Mar. 24, 2015 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded (in shares) | 550 | 259,044 | ||
Capital shares, authorized (in shares) | 110,000,000 | |||
Preferred stock authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | |
Common stock authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | |
Common stock issued (in shares) | 25,654,521 | 25,093,135 | ||
Common stock outstanding (in shares) | 25,654,521 | 25,093,135 |
Derivatives and Hedging (Narrat
Derivatives and Hedging (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Derivative [Line Items] | |||||
Notional Amount | $ 16,300,000 | $ 16,300,000 | $ 4,500,000 | ||
Expected reclassification from AOCI in the next twelve months | 159,000 | 159,000 | |||
Collateral posted | 8,300,000 | 8,300,000 | 16,300,000 | ||
Not designated as hedging instrument | Other assets | |||||
Derivative [Line Items] | |||||
Notional Amount | 166,872,000 | 166,872,000 | 169,049,000 | ||
Swap | Not designated as hedging instrument | |||||
Derivative [Line Items] | |||||
Notional Amount | 141,000,000 | 141,000,000 | 140,700,000 | ||
Swap | Not designated as hedging instrument | Other assets | |||||
Derivative [Line Items] | |||||
Notional Amount | 70,476,000 | 70,476,000 | 70,352,000 | ||
Cash Flow Hedging | |||||
Derivative [Line Items] | |||||
Hedge ineffectiveness gain (loss) recognized | 0 | $ 0 | 0 | $ 0 | |
Cash Flow Hedging | Designated as hedging instrument | LIBOR | |||||
Derivative [Line Items] | |||||
Notional Amount | 50,000,000 | 50,000,000 | 50,000,000 | ||
Cash Flow Hedging | Designated as hedging instrument | Other assets | LIBOR | |||||
Derivative [Line Items] | |||||
Notional Amount | $ 25,000,000 | $ 25,000,000 | $ 50,000,000 |
Derivatives and Hedging (Deriva
Derivatives and Hedging (Derivative Contracts and Credit Risk Participation Agreements) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Notional Amount | $ 16,300 | $ 4,500 |
Designated as hedging instrument | Cash Flow Hedging | LIBOR | ||
Derivative [Line Items] | ||
Notional Amount | 50,000 | 50,000 |
Not designated as hedging instrument | Swap | ||
Derivative [Line Items] | ||
Notional Amount | 141,000 | 140,700 |
Other assets | Designated as hedging instrument | Cash Flow Hedging | LIBOR | ||
Derivative [Line Items] | ||
Notional Amount | 25,000 | 50,000 |
Fair Value | 38 | 186 |
Other assets | Not designated as hedging instrument | ||
Derivative [Line Items] | ||
Notional Amount | 166,872 | 169,049 |
Fair Value | 4,112 | 4,124 |
Other assets | Not designated as hedging instrument | Swap | ||
Derivative [Line Items] | ||
Notional Amount | 70,476 | 70,352 |
Fair Value | 1,262 | 1,364 |
Other assets | Not designated as hedging instrument | Zero premium collar | ||
Derivative [Line Items] | ||
Notional Amount | 96,396 | 98,697 |
Fair Value | 2,850 | 2,760 |
Other liabilities | Designated as hedging instrument | Cash Flow Hedging | LIBOR | ||
Derivative [Line Items] | ||
Notional Amount | 25,000 | 0 |
Fair Value | 1 | 0 |
Other liabilities | Not designated as hedging instrument | ||
Derivative [Line Items] | ||
Notional Amount | 183,176 | 173,509 |
Fair Value | 4,243 | 4,131 |
Other liabilities | Not designated as hedging instrument | Swap | ||
Derivative [Line Items] | ||
Notional Amount | 70,476 | 70,352 |
Fair Value | 1,306 | 1,371 |
Other liabilities | Not designated as hedging instrument | Credit risk participation | ||
Derivative [Line Items] | ||
Notional Amount | 16,304 | 4,460 |
Fair Value | 6 | 0 |
Other liabilities | Not designated as hedging instrument | Dealer offset to zero premium collar | ||
Derivative [Line Items] | ||
Notional Amount | 96,396 | 98,697 |
Fair Value | $ 2,931 | $ 2,760 |
Derivatives and Hedging (Impact
Derivatives and Hedging (Impact to Consolidated Statements of Income Related to Derivative Contracts) (Details) - Cash Flow Hedging - Interest rate swaps - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative [Line Items] | ||||
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | $ 19 | $ 169 | $ (127) | $ 742 |
Gain or (Loss) Reclassified from Accumulated OCI in Income (Effective Portion) | $ 110 | $ 183 | $ 247 | $ 369 |
Other Borrowings and Long Ter64
Other Borrowings and Long Term Debt (Schedule of Borrowings) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 180,000 | $ 110,000 |
Federal Funds purchased | 15,000 | 0 |
Total Short-Term Borrowings | 195,000 | 110,000 |
FHLB short-term borrowings | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | 180,000 | 110,000 |
FHLB short-term borrowings | Fixed rate advance maturing January 17, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 40,000 | |
Interest Rate | 0.64% | |
FHLB short-term borrowings | Fixed rate advance maturing January 24, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 40,000 | |
Interest Rate | 0.61% | |
FHLB short-term borrowings | Fixed rate advance maturing January 30, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 30,000 | |
Interest Rate | 0.62% | |
FHLB short-term borrowings | Fixed rate advance maturing July 3, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 25,000 | |
Interest Rate | 1.02% | |
FHLB short-term borrowings | Fixed rate advance maturing July 20, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 40,000 | |
Interest Rate | 1.16% | |
FHLB short-term borrowings | Fixed rate advance maturing July 24, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 35,000 | |
Interest Rate | 1.16% | |
FHLB short-term borrowings | Fixed rate advance maturing July 24, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 40,000 | |
Interest Rate | 1.17% | |
FHLB short-term borrowings | Fixed rate advance maturing July 27, 2017 | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank borrowings | $ 40,000 | |
Interest Rate | 1.17% | |
Federal Funds purchased and securities sold under agreements to repurchase | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.00% | |
Federal Funds purchased | $ 15,000 | $ 0 |
Federal Funds purchased and securities sold under agreements to repurchase | Minimum | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.28% | |
Federal Funds purchased and securities sold under agreements to repurchase | Maximum | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.31% |
Other Borrowings and Long Ter65
Other Borrowings and Long Term Debt (Narrative) (Details) - Subordinated Debt - USD ($) | Sep. 28, 2015 | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Aggregate principal amount | $ 50,000,000 | $ 50,000,000 | |
Maturity, more than | 5 years | ||
6.25% Subordinated Note, Due September 2020 | |||
Debt Instrument [Line Items] | |||
Aggregate principal amount | $ 50,000,000 | $ 50,000,000 | $ 50,000,000 |
Stated interest rate | 6.25% | 6.25% | |
Debt instrument redemption price | 100.00% | ||
Maturity, more than | 10 years | ||
Subordinated Note After September 30, 2020 Due September 2025 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 4.68% |
Other Borrowings and Long Ter66
Other Borrowings and Long Term Debt (Schedule of Subordinated Debt) (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | Sep. 28, 2015 | |
Debt Instrument [Line Items] | |||
Long-term debt | $ 49,451,000 | $ 49,366,000 | |
Subordinated Debt | |||
Debt Instrument [Line Items] | |||
Aggregate principal amount | 50,000,000 | 50,000,000 | |
Less debt issuance costs | 549,000 | 634,000 | |
Long-term debt | $ 49,451,000 | 49,366,000 | |
Debt instrument term | 5 years | ||
Subordinated Debt | 6.25% Subordinated Note, Due September 2020 | |||
Debt Instrument [Line Items] | |||
Aggregate principal amount | $ 50,000,000 | $ 50,000,000 | $ 50,000,000 |
Debt instrument term | 10 years | ||
Stated interest rate | 6.25% | 6.25% |
Share-Based Compensation (Narra
Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | May 14, 2007 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Options granted in period (shares) | 0 | 0 | ||||
Warrants granted in period (shares) | 0 | 0 | ||||
Share based compensation expense | $ 139 | $ 203 | $ 281 | $ 445 | ||
Warrant | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrants outstanding (shares) | 0 | 0 | 363,000 | |||
Share price (usd per share) | $ 10 | |||||
Exercisable period from date from which warrants were issued (years) | 10 years | |||||
2006 Stock Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized (shares) | 4,525,000 | 4,525,000 | ||||
Number of additional shares authorized (shares) | 3,862,000 | |||||
Award vesting period | 3 years | |||||
Term of award | 10 years | |||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share based compensation expense | $ 243 | $ 205 | $ 473 | $ 455 | ||
Compensation cost not yet recognized | $ 2,700 | $ 2,700 | ||||
Compensation cost not yet recognized, period for recognition | 2 years 10 months 1 day |
Share-Based Compensation (Stock
Share-Based Compensation (Stock Option Activity) (Details) $ / shares in Units, $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($)$ / sharesshares | |
Shares | |
Outstanding, Beginning of period (in shares) | shares | 1,485,704 |
Exercised | shares | (694,984) |
Forfeited (in shares) | shares | (628) |
Expired (in shares) | shares | (635) |
Outstanding, End of period (in shares) | shares | 789,457 |
Exercisable, End of period (in shares) | shares | 513,515 |
Weighted Average Exercise Price | |
Outstanding, Weighted average exercise price, Beginning of period (dollars per share) | $ / shares | $ 11.69 |
Exercised, Weighted average exercise price (dollars per share) | $ / shares | 10.48 |
Forfeited, Weighted average exercise price (dollars per share) | $ / shares | 10.31 |
Expired, Weighted average exercise price (dollars per share) | $ / shares | 126.22 |
Outstanding, Weighted average exercise price, End of period (dollars per share) | $ / shares | 12.61 |
Exercisable, Weighted average exercise price, End of period (dollars per share) | $ / shares | $ 11.72 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Outstanding, Weighted average remaining contractual term, End of period (in years) | 6 years 8 days |
Exercisable, Weighted average remaining contractual term, End of period (in years) | 4 years 11 months 28 days |
Outstanding, Aggregate intrinsic value, End of period | $ | $ 5,274 |
Exercisable, Aggregate intrinsic value, End of period | $ | $ 3,926 |
Share-Based Compensation (Restr
Share-Based Compensation (Restricted Stock Activity) (Details) - Restricted Stock | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Beginning of period (in shares) | shares | 259,165 |
Granted (in shares) | shares | 61,715 |
Vested (in shares) | shares | (58,309) |
Forfeited (in shares) | shares | (26,875) |
End of period (in shares) | shares | 235,696 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Weighted average grant date fair value, Nonvested, Beginning of period (dollars per share) | $ / shares | $ 13.70 |
Weighted average grant date fair value, Granted (dollars per share) | $ / shares | 18.72 |
Weighted average grant date fair value, Vested (dollars per share) | $ / shares | 12.25 |
Weighted average grant date fair value, Forfeited (dollars per share) | $ / shares | 14.57 |
Weighted average grant date fair value, Nonvested, End of period (dollars per share) | $ / shares | $ 15.27 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements Recurring) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | $ 450,273 | $ 347,705 |
Interest rate derivative assets | 4,150 | 4,310 |
Interest rate derivative liabilities | 4,244 | 4,131 |
Fair Value | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 450,273 | 347,705 |
Interest rate derivative assets | 4,150 | 4,310 |
Interest rate derivative liabilities | 4,244 | 4,131 |
Fair Value | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Interest rate derivative assets | 0 | 0 |
Interest rate derivative liabilities | 0 | 0 |
Fair Value | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 450,273 | 347,705 |
Interest rate derivative assets | 4,150 | 4,310 |
Interest rate derivative liabilities | 4,244 | 4,131 |
Fair Value | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Interest rate derivative assets | 0 | 0 |
Interest rate derivative liabilities | 0 | 0 |
Fair Value | U.S. government agencies | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 35,125 | 21,152 |
Fair Value | U.S. government agencies | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | U.S. government agencies | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 35,125 | 21,152 |
Fair Value | U.S. government agencies | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | U.S. states and political subdivisions | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 94,168 | 90,172 |
Fair Value | U.S. states and political subdivisions | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | U.S. states and political subdivisions | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 94,168 | 90,172 |
Fair Value | U.S. states and political subdivisions | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Trust preferred securities | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 4,688 | 4,525 |
Fair Value | Trust preferred securities | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Trust preferred securities | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 4,688 | 4,525 |
Fair Value | Trust preferred securities | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Corporate debt securities | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 19,220 | 19,231 |
Fair Value | Corporate debt securities | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Corporate debt securities | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 19,220 | 19,231 |
Fair Value | Corporate debt securities | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Mortgage-backed securities | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 297,072 | 212,625 |
Fair Value | Mortgage-backed securities | Fair value, measurements, recurring | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 0 | 0 |
Fair Value | Mortgage-backed securities | Fair value, measurements, recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 297,072 | $ 212,625 |
Fair Value | Mortgage-backed securities | Fair value, measurements, recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | $ 0 |
Fair Value Measurements (Fair71
Fair Value Measurements (Fair Value Measurements Nonrecurring) (Details) - Impaired Loans - Fair Value - Fair value, measurements, nonrecurring - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 7,655 | $ 7,248 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 7,655 | $ 7,248 |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value and Carrying Value Summary) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and due from banks | $ 45,008 | $ 36,790 |
Interest-bearing deposits in banks | 36,171 | 118,039 |
Other short-term investments | 17,459 | 10,896 |
Total securities available-for-sale | 450,273 | 347,705 |
Loans held for investment, net | 1,940,221 | 1,960,735 |
Derivative assets | 4,150 | 4,310 |
Subordinated debt | 49,451 | 49,366 |
FHLB advances | 180,000 | 110,000 |
Derivative financial instruments | 4,244 | 4,131 |
Fair value, measurements, recurring | Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and due from banks | 45,008 | 36,790 |
Interest-bearing deposits in banks | 36,171 | 118,039 |
Other short-term investments | 17,459 | 10,896 |
Total securities available-for-sale | 450,273 | 347,705 |
FHLB stock | 10,126 | 7,067 |
Federal Reserve Bank stock | 9,781 | 9,690 |
Loans held for investment, net | 1,940,221 | 1,960,735 |
Loans held for sale | 1,744 | 35,219 |
Derivative assets | 4,150 | 4,310 |
Deposits | 2,113,954 | 2,205,991 |
Federal funds purchased and securities sold under agreements to repurchase | 15,000 | |
Deposits to be assumed in branch sale | 31,589 | |
Subordinated debt | 49,451 | 49,366 |
FHLB advances | 180,000 | 110,000 |
Derivative financial instruments | 4,244 | 4,131 |
Fair value, measurements, recurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities available-for-sale | 450,273 | 347,705 |
Derivative assets | 4,150 | 4,310 |
Derivative financial instruments | 4,244 | 4,131 |
Fair value, measurements, recurring | Fair Value | Quoted Prices in Active Markets for Identical Securities (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and due from banks | 45,008 | 36,790 |
Interest-bearing deposits in banks | 36,171 | 118,039 |
Other short-term investments | 17,459 | 10,896 |
Total securities available-for-sale | 0 | 0 |
FHLB stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans held for investment, net | 0 | 0 |
Loans held for sale | 0 | 0 |
Derivative assets | 0 | 0 |
Deposits | 0 | 0 |
Federal funds purchased and securities sold under agreements to repurchase | 15,000 | |
Deposits to be assumed in branch sale | 0 | |
Subordinated debt | 0 | 0 |
FHLB advances | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Fair value, measurements, recurring | Fair Value | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits in banks | 0 | 0 |
Other short-term investments | 0 | 0 |
Total securities available-for-sale | 450,273 | 347,705 |
FHLB stock | 0 | 0 |
Federal Reserve Bank stock | 0 | 0 |
Loans held for investment, net | 0 | 0 |
Loans held for sale | 1,744 | 35,219 |
Derivative assets | 4,150 | 4,310 |
Deposits | 2,006,800 | 2,144,196 |
Federal funds purchased and securities sold under agreements to repurchase | 0 | |
Deposits to be assumed in branch sale | 31,589 | |
Subordinated debt | 50,007 | 48,971 |
FHLB advances | 180,012 | 109,946 |
Derivative financial instruments | 4,244 | 4,131 |
Fair value, measurements, recurring | Fair Value | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits in banks | 0 | 0 |
Other short-term investments | 0 | 0 |
Total securities available-for-sale | 0 | 0 |
FHLB stock | 10,126 | 7,067 |
Federal Reserve Bank stock | 9,781 | 9,690 |
Loans held for investment, net | 1,999,159 | 1,939,895 |
Loans held for sale | 0 | 0 |
Derivative assets | 0 | 0 |
Deposits | 0 | 0 |
Federal funds purchased and securities sold under agreements to repurchase | 0 | |
Deposits to be assumed in branch sale | 0 | |
Subordinated debt | 0 | 0 |
FHLB advances | 0 | 0 |
Derivative financial instruments | $ 0 | $ 0 |
Commitments and Contingencies73
Commitments and Contingencies (Exposure to Credit Risk) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Maximum credit risk exposure | $ 647,175 | $ 634,057 |
Commitments to extend credit | ||
Loss Contingencies [Line Items] | ||
Maximum credit risk exposure | 631,250 | 617,432 |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Maximum credit risk exposure | $ 15,925 | $ 16,625 |