Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 05, 2019 | |
Document Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 001-35654 | |
Entity Registrant Name | NATIONAL BANK HOLDINGS CORP | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-0563799 | |
Entity Address, Address Line One | 7800 East Orchard, Suite 300 | |
Entity Address, City or Town | Greenwood Village | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80111 | |
City Area Code | 303 | |
Local Phone Number | 892-8715 | |
Title of 12(b) Security | Class A Common Stock | |
Trading Symbol | NBHC | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 31,139,052 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Central Index Key | 0001475841 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 90,659 | $ 109,056 |
Interest bearing bank deposits | 500 | 500 |
Cash and cash equivalents | 91,159 | 109,556 |
Investment securities available-for-sale (at fair value) | 710,206 | 791,102 |
Investment securities held-to-maturity (fair value of $206,402 and $230,926 at June 30, 2019 and December 31, 2018, respectively) | 206,361 | 235,398 |
Non-marketable securities | 30,726 | 27,555 |
Loans | 4,330,263 | 4,092,308 |
Allowance for loan losses | (40,082) | (35,692) |
Loans, net | 4,290,181 | 4,056,616 |
Loans held-for-sale | 105,866 | 48,120 |
Other real estate owned | 7,054 | 10,596 |
Premises and equipment, net | 111,171 | 109,986 |
Goodwill | 115,027 | 115,027 |
Intangible assets, net | 12,267 | 13,470 |
Other assets | 177,984 | 159,240 |
Total assets | 5,858,002 | 5,676,666 |
Liabilities: | ||
Non-interest bearing demand deposits | 1,167,399 | 1,072,029 |
Interest bearing demand deposits | 691,527 | 688,255 |
Savings and money market | 1,747,434 | 1,694,808 |
Time deposits | 1,081,637 | 1,080,529 |
Total deposits | 4,687,997 | 4,535,621 |
Securities sold under agreements to repurchase | 60,430 | 66,047 |
Federal Home Loan Bank advances | 272,414 | 301,660 |
Other liabilities | 103,244 | 78,332 |
Total liabilities | 5,124,085 | 4,981,660 |
Shareholders' equity: | ||
Common stock, par value $0.01 per share: 400,000,000 shares authorized; 51,487,907 and 51,498,016 shares issued; 31,139,044 and 30,769,063 shares outstanding at June 30, 2019 and December 31, 2018, respectively | 515 | 515 |
Additional paid-in capital | 1,006,008 | 1,014,399 |
Retained earnings | 135,210 | 106,990 |
Treasury stock of 20,210,348 and 20,582,459 shares at June 30, 2019 and December 31, 2018, respectively, at cost | (409,322) | (415,623) |
Accumulated other comprehensive income (loss), net of tax | 1,506 | (11,275) |
Total shareholders' equity | 733,917 | 695,006 |
Total liabilities and shareholders' equity | $ 5,858,002 | $ 5,676,666 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Investment securities held-to-maturity, fair value | $ 206,402 | $ 230,926 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized | 400,000,000 | 400,000,000 |
Common Stock, shares issued | 51,487,907 | 51,498,016 |
Common Stock, shares outstanding | 31,139,044 | 30,769,063 |
Treasury stock, shares | 20,210,348 | 20,582,459 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 55,995 | $ 47,533 | $ 108,770 | $ 92,813 |
Interest and dividends on investment securities | 5,535 | 6,810 | 11,547 | 13,336 |
Dividends on non-marketable securities | 459 | 249 | 882 | 493 |
Interest on interest-bearing bank deposits | 204 | 319 | 414 | 1,060 |
Total interest and dividend income | 62,193 | 54,911 | 121,613 | 107,702 |
Interest expense: | ||||
Interest on deposits | 7,649 | 4,865 | 14,264 | 9,499 |
Interest on borrowings | 2,053 | 660 | 3,692 | 1,170 |
Total interest expense | 9,702 | 5,525 | 17,956 | 10,669 |
Net interest income before provision for loan losses | 52,491 | 49,386 | 103,657 | 97,033 |
Provision for loan losses | 3,239 | 1,873 | 4,773 | 1,914 |
Net interest income after provision for loan losses | 49,252 | 47,513 | 98,884 | 95,119 |
Non-interest income: | ||||
Mortgage banking income | 10,398 | 8,911 | 17,335 | 16,882 |
Bank-owned life insurance income | 424 | 446 | 845 | 898 |
Other non-interest income | 1,472 | 1,711 | 3,355 | 2,862 |
OREO-related income | 59 | 451 | 120 | 841 |
Total non-interest income | 20,660 | 19,562 | 37,711 | 37,398 |
Non-interest expense: | ||||
Salaries and benefits | 30,667 | 29,123 | 58,557 | 59,795 |
Occupancy and equipment | 6,721 | 7,190 | 13,603 | 15,145 |
Telecommunications and data processing | 2,124 | 2,101 | 4,414 | 6,467 |
Marketing and business development | 840 | 1,237 | 1,826 | 2,461 |
FDIC deposit insurance | 493 | 757 | 991 | 1,510 |
Bank card expenses | 1,423 | 1,097 | 2,233 | 3,233 |
Professional fees | 1,041 | 738 | 1,855 | 3,557 |
Other non-interest expense | 2,439 | 3,106 | 5,612 | 6,951 |
Problem asset workout | 725 | 775 | 1,848 | 1,556 |
(Gain) loss on OREO sales, net | (318) | (14) | (686) | 64 |
Core deposit intangible asset amortization | 296 | 653 | 592 | 1,306 |
Total non-interest expense | 46,451 | 46,763 | 90,845 | 102,045 |
Income before income taxes | 23,461 | 20,312 | 45,750 | 30,472 |
Income tax expense | 3,179 | 2,800 | 6,546 | 4,495 |
Net income | $ 20,282 | $ 17,512 | $ 39,204 | $ 25,977 |
Income per share-basic (in dollars per share) | $ 0.65 | $ 0.57 | $ 1.26 | $ 0.85 |
Income per share-diluted (in dollars per share) | $ 0.64 | $ 0.56 | $ 1.24 | $ 0.83 |
Weighted average number of common shares outstanding: | ||||
Basic (Shares) | 31,155,264 | 30,735,427 | 31,058,761 | 30,615,226 |
Diluted (Shares) | 31,604,658 | 31,387,175 | 31,558,615 | 31,275,359 |
Service Charges and other fees | ||||
Non-interest income: | ||||
Non-interest income | $ 4,541 | $ 4,371 | $ 8,862 | $ 8,881 |
Bank card fees | ||||
Non-interest income: | ||||
Non-interest income | $ 3,766 | $ 3,672 | $ 7,194 | $ 7,034 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 20,282 | $ 17,512 | $ 39,204 | $ 25,977 |
Securities available-for-sale: | ||||
Net unrealized gains (losses) arising during the period, net of tax (expense) benefit of ($2,480) and $688 for the three months ended June 30, 2019 and 2018, respectively; and net of tax (expense) benefit of ($4,187) and $2,990 for the six months ended June 30, 2019 and 2018, respectively | 7,905 | (2,191) | 13,322 | (8,971) |
Less: amortization of net unrealized holding gains to income, net of tax benefit of $81 and $103 for the three months ended June 30, 2019 and 2018, respectively; and net of tax benefit of $171 and $988 for the six months ended June 30, 2019 and 2018, respectively | (259) | (327) | (541) | (714) |
Other comprehensive income (loss) | 7,646 | (2,518) | 12,781 | (9,685) |
Comprehensive income | $ 27,928 | $ 14,994 | $ 51,985 | $ 16,292 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Tax (expense) benefit on net unrealized gains arising during the period | $ (2,480) | $ 688 | $ (4,187) | $ 2,990 |
Tax (expense) benefit of amortization of net unrealized holding gains to income | $ 81 | $ 103 | $ 171 | $ 988 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Treasury stock [Member] | Accumulated other comprehensive (loss) income, net [Member] | Total |
Balance in the beginning at Dec. 31, 2017 | $ 515 | $ 970,668 | $ 60,795 | $ (493,329) | $ (6,242) | $ 532,407 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 25,977 | 25,977 | ||||
Stock-based compensation | 2,006 | 2,006 | ||||
Issuance of stock under purchase and equity compensation plans, including gain on reissuance of treasury stock, net | (2,742) | 9,078 | 6,336 | |||
Reissuance of treasury stock of 3,398,477 shares for acquisition of Peoples, Inc. | 42,243 | 67,970 | 110,213 | |||
Cash dividends declared | (7,095) | (7,095) | ||||
Reclassification of certain tax effects from accumulated other comprehensive income | 1,479 | (1,479) | ||||
Cumulative effect adjustment | 26 | 26 | ||||
Other comprehensive income (loss) | (9,685) | (9,685) | ||||
Balance in the ending at Jun. 30, 2018 | 515 | 1,012,175 | 81,182 | (416,281) | (17,406) | 660,185 |
Balance in the beginning at Mar. 31, 2018 | 515 | 1,012,268 | 68,008 | (420,040) | (14,888) | 645,863 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 17,512 | 17,512 | ||||
Stock-based compensation | 1,173 | 1,173 | ||||
Issuance of stock under purchase and equity compensation plans, including gain on reissuance of treasury stock, net | (1,266) | 3,759 | 2,493 | |||
Cash dividends declared | (4,338) | (4,338) | ||||
Other comprehensive income (loss) | (2,518) | (2,518) | ||||
Balance in the ending at Jun. 30, 2018 | 515 | 1,012,175 | 81,182 | (416,281) | (17,406) | 660,185 |
Balance in the beginning at Dec. 31, 2018 | 515 | 1,014,399 | 106,990 | (415,623) | (11,275) | 695,006 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 39,204 | 39,204 | ||||
Stock-based compensation | 1,884 | 1,884 | ||||
Issuance of stock under purchase and equity compensation plans, including gain on reissuance of treasury stock, net | (10,275) | 6,301 | (3,974) | |||
Cash dividends declared | (11,240) | (11,240) | ||||
Cumulative effect adjustment | 256 | 256 | ||||
Other comprehensive income (loss) | 12,781 | 12,781 | ||||
Balance in the ending at Jun. 30, 2019 | 515 | 1,006,008 | 135,210 | (409,322) | 1,506 | 733,917 |
Balance in the beginning at Mar. 31, 2019 | 515 | 1,012,974 | 120,879 | (413,226) | (6,140) | 715,002 |
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | 20,282 | 20,282 | ||||
Stock-based compensation | 1,508 | 1,508 | ||||
Issuance of stock under purchase and equity compensation plans, including gain on reissuance of treasury stock, net | (8,474) | 3,904 | (4,570) | |||
Cash dividends declared | (5,951) | (5,951) | ||||
Other comprehensive income (loss) | 7,646 | 7,646 | ||||
Balance in the ending at Jun. 30, 2019 | $ 515 | $ 1,006,008 | $ 135,210 | $ (409,322) | $ 1,506 | $ 733,917 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Gain on reissuance of treasury stock | $ 3,382 | $ 3,706 | $ 5,673 | $ 7,272 |
Reissuance of treasury stock, shares | 3,398,477 | |||
Cash dividends declared per share | $ 0.19 | $ 0.14 | $ 0.36 | $ 0.23 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 39,204 | $ 25,977 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Provision for loan losses | 4,773 | 1,914 |
Depreciation and amortization | 7,376 | 6,039 |
Current income tax receivable | 693 | 479 |
Deferred income taxes | 5,140 | 3,098 |
Net excess tax benefit on stock-based compensation | (2,136) | (1,161) |
Discount accretion, net of premium amortization on securities | 952 | 753 |
Loan accretion | (8,273) | (12,401) |
Gain on sale of mortgages, net | (16,050) | (14,849) |
Origination of loans held for sale, net of repayments | (490,411) | (526,071) |
Proceeds from sales of loans held for sale | 450,360 | 489,191 |
Bank-owned life insurance income | (845) | (898) |
(Gain) loss on the sale of other real estate owned, net | (686) | 64 |
Impairment on other real estate owned | 684 | 64 |
Stock-based compensation | 1,885 | 2,006 |
Operating lease payments | (2,802) | |
Change in other assets | 3,039 | (16,248) |
Change in other liabilities | 6,327 | 11,219 |
Net cash used in operating activities | (770) | (30,824) |
Cash flows from investing activities: | ||
Purchase of FHLB stock | (11,418) | (9,421) |
Proceeds from redemption of FHLB stock | 8,247 | 9,160 |
Proceeds from maturities of investment securities held-to-maturity | 28,152 | 32,158 |
Proceeds from maturities of investment securities available-for-sale | 97,625 | 112,748 |
Proceeds from sales of investment securities available-for-sale | 33,202 | |
Proceeds from maturities of non-marketable securities | 67 | |
Purchase of investment securities held-to-maturity | (40,735) | |
Purchase of investment securities available-for-sale | (42,199) | |
Net increase in loans | (240,977) | (130,019) |
Purchases of premises and equipment, net | (5,279) | (3,462) |
Proceeds from sales of loans | 713 | |
Proceeds from sales of other real estate owned | 3,832 | 529 |
Net cash activity from acquisition | 68,984 | |
Net cash (used in) provided by investing activities | (119,818) | 31,725 |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 152,376 | (78,006) |
Decrease in repurchase agreements | (5,617) | (57,022) |
Advances from FHLB | 812,149 | 448,560 |
FHLB repayments | (841,395) | (423,167) |
Issuance of stock under purchase and equity compensation plans | (6,384) | (2,377) |
Proceeds from exercise of stock options | 2,387 | 8,713 |
Payment of dividends | (11,325) | (7,049) |
Net cash provided by (used in) financing activities | 102,191 | (110,348) |
Decrease in cash, cash equivalents and restricted cash | (18,397) | (109,447) |
Cash, cash equivalents and restricted cash at beginning of the year | 119,556 | 257,364 |
Cash, cash equivalents and restricted cash at end of period | 101,159 | 147,917 |
Supplemental disclosure of cash flow information during the period: | ||
Cash paid for interest | 16,924 | 10,310 |
Net tax payments (refunds) | 4,729 | (2,245) |
Supplemental schedule of non-cash activities: | ||
Loans transferred to other real estate owned at fair value | 288 | 24,382 |
Decrease in loans purchased but not settled | (8,979) | (10,037) |
Loans transferred from loans held for sale to loans | 1,645 | 2,440 |
Lease right-of-use assets obtained | $ (30,474) | |
Treasury stock reissued for acquisition | $ 110,213 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Basis of Presentation | |
Basis of Presentation | Note 1 Basis of Presentation National Bank Holdings Corporation ("NBHC" or the "Company") is a bank holding company that was incorporated in the State of Delaware in 2009. The Company is headquartered in Denver, Colorado, and its primary operations are conducted through its wholly owned subsidiary, NBH Bank (the "Bank"), a Colorado state-chartered bank and a member of the Federal Reserve System. The Company provides a variety of banking products to both commercial and consumer clients through a network of 105 banking centers, as of June 30, 2019, located primarily in Colorado and the greater Kansas City region, and through online and mobile banking products and services. The accompanying interim unaudited consolidated financial statements serve to update the National Bank Holdings Corporation Annual Report on Form 10-K Form 10-K GAAP requires management to make estimates that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosures of contingent assets and liabilities. By their nature, estimates are based on judgment and available information. Management has made significant estimates in certain areas, such as the amount and timing of expected cash flows from assets, the valuation of other real estate owned (“OREO”), the fair value adjustments on assets acquired and liabilities assumed, the valuation of core deposit intangible assets, the valuation of investment securities for other-than-temporary impairment (“OTTI”), the valuation of stock-based compensation, the valuation of mortgage servicing rights, the fair values of financial instruments, the allowance for loan losses (“ALL”) and contingent liabilities. Because of the inherent uncertainties associated with any estimation process and future changes in market and economic conditions, it is possible that actual results could differ significantly from those estimates. The Company's significant accounting policies followed in the preparation of the unaudited consolidated financial statements are disclosed in note 2 of the audited financial statements and notes for the year ended December 31, 2018 and are contained in the Company's Annual Report on Form 10-K |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2019 | |
Recent Accounting Pronouncements | |
Recent Accounting Pronouncements | Note 2 Recent Accounting Pronouncements Leases Leases. Leases impact our financial statements in relation to contracts whereby we act as a lessor. We applied the modified-retrospective transition approach prescribed by ASU 2018-11. Upon adoption of ASU 2016-02 and ASU 2018-11 on January 1, 2019, we recognized right-of-use assets and related lease liabilities totaling $30.5 million with a cumulative-effect adjustment to beginning retained earnings of $0.3 million. Refer to note 6 – Leases of our consolidated financial statements for further detail. Financial Instruments - Credit Losses Measurement of Credit Losses on Financial Instruments . This update replaces the current incurred loss methodology for recognizing credit losses with a current expected credit loss model, which requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This amendment broadens the information that an entity must consider in developing its expected credit loss estimates. Additionally, the update amends the accounting for credit losses for available-for-sale debt securities and purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. This update requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of a company’s loan portfolio. ASU 2016-13 becomes effective for us on January 1, 2020. We have formed a cross-functional working group, including our credit, finance, risk management, and enterprise technology departments, to address the adoption and implementation of ASU 2016-13. We are currently working through our implementation plan and are in the process of implementing a third-party vendor solution to assist us in the application of ASU 2016-13. The adoption of ASU 2016-13 could result in an increase in the allowance for loan losses as a result of changing from an “incurred loss” model, which encompasses allowances for current known and inherent losses within the portfolio, to an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. We are currently evaluating the potential impact of ASU 2016-13 and subsequent updates on our financial statements. Other Pronouncements Intangibles - Goodwill and Other Simplifying the Test for Goodwill Impairment Fair Value Measurement Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 3 Investment Securities The Company’s investment securities portfolio is comprised of available-for-sale and held-to-maturity investment securities. These investment securities totaled $0.9 billion at June 30, 2019 and included $0.7 billion of available-for-sale securities and $0.2 billion of held-to-maturity securities. At December 31, 2018, investment securities totaled $1.0 billion and included $0.8 billion of available-for-sale securities and $0.2 billion of held-to-maturity securities. Available-for-sale At June 30, 2019 and December 31, 2018, the Company held $710.2 million and $791.1 million of available-for-sale investment securities, respectively. Available-for-sale securities are summarized as follows as of the dates indicated: June 30, 2019 Amortized Gross Gross cost unrealized gains unrealized losses Fair value Mortgage-backed securities (“MBS”): Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 122,265 $ 1,636 $ (132) $ 123,769 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 587,967 4,223 (6,832) 585,358 Municipal securities 619 — (9) 610 Other securities 469 — — 469 Total investment securities available-for-sale $ 711,320 $ 5,859 $ (6,973) $ 710,206 December 31, 2018 Amortized Gross Gross cost unrealized gains unrealized losses Fair value Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 147,283 $ 1,232 $ (1,873) $ 146,642 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 661,354 1,056 (19,029) 643,381 Municipal securities 619 — (9) 610 Other securities 469 — — 469 Total investment securities available-for-sale $ 809,725 $ 2,288 $ (20,911) $ 791,102 At June 30, 2019 and December 31, 2018, mortgage-backed securities represented primarily all of the Company’s available-for-sale investment portfolio and all mortgage-backed securities were backed by government sponsored enterprises (“GSE”) collateral such as Federal Home Loan Mortgage Corporation (“FHLMC”) and Federal National Mortgage Association (“FNMA”), and the government owned agency Government National Mortgage Association (“GNMA”). The tables below summarize the available-for-sale securities with unrealized losses as of the dates shown, along with the length of the impairment period: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ — $ 31,277 $ (132) $ 31,277 $ (132) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 4,810 (7) 307,751 (6,825) 312,561 (6,832) Municipal securities — — 441 (9) 441 (9) Total $ 4,810 $ (7) $ 339,469 $ (6,966) $ 344,279 $ (6,973) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 30,853 $ (392) $ 69,169 $ (1,481) $ 100,022 $ (1,873) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 127,767 (1,150) 454,662 (17,879) 582,429 (19,029) Municipal securities 441 (9) — — 441 (9) Total $ 159,061 $ (1,551) $ 523,831 $ (19,360) $ 682,892 $ (20,911) The unrealized losses in the Company's investment portfolio at June 30, 2019 were caused by changes in interest rates. The portfolio included 85 securities, having an aggregate fair value of $344.3 million, which were in an unrealized loss position at June 30, 2019, compared to 211 securities, with an aggregate fair value of $682.9 million at December 31, 2018. Management evaluated all of the available for sale securities in an unrealized loss position at June 30, 2019 and December 31, 2018, and concluded no OTTI existed. The Company has no intention to sell these securities before recovery of their amortized cost and believes it will not be required to sell the securities before the recovery of their amortized cost. Certain securities are pledged as collateral for public deposits, securities sold under agreements to repurchase and to secure borrowing capacity at the Federal Reserve Bank and Federal Home Loan Bank (“FHLB”). The fair value of available-for-sale investment securities pledged as collateral totaled $353.1 million and $318.1 million at June 30, 2019 and at December 31, 2018, respectively. Mortgage-backed securities do not have a single maturity date and actual maturities may differ from contractual maturities depending on the repayment characteristics and experience of the underlying financial instruments. As of June 30, 2019, municipal securities with an amortized cost and fair value of $0.2 million were due after one year through five years, while municipal securities with an amortized cost and fair value of $0.4 million were due after five years through ten years. Other securities of $0.5 million as of June 30, 2019, have no stated contractual maturity date. Held-to-maturity At June 30, 2019 and December 31, 2018, the Company held $206.4 million and $235.4 million of held-to-maturity investment securities, respectively. Held-to-maturity investment securities are summarized as follows as of the dates indicated: June 30, 2019 Gross Gross Amortized unrealized unrealized cost gains losses Fair value Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 136,964 $ 651 $ (74) $ 137,541 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 69,397 137 (673) 68,861 Total investment securities held-to-maturity $ 206,361 $ 788 $ (747) $ 206,402 December 31, 2018 Gross Gross Amortized unrealized unrealized cost gains losses Fair value Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 157,115 $ 2 $ (2,705) $ 154,412 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 78,283 — (1,769) 76,514 Total investment securities held-to-maturity $ 235,398 $ 2 $ (4,474) $ 230,926 The tables below summarize the held-to-maturity securities with unrealized losses as of the dates shown, along with the length of the impairment period: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ — $ 12,116 $ (74) $ 12,116 $ (74) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — — 37,444 (673) 37,444 (673) Total $ — $ — $ 49,560 $ (747) $ 49,560 $ (747) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 26,660 $ (381) $ 126,475 $ (2,324) $ 153,135 $ (2,705) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 35,235 (79) 41,279 (1,690) 76,514 (1,769) Total $ 61,895 $ (460) $ 167,754 $ (4,014) $ 229,649 $ (4,474) The held-to-maturity portfolio included 13 securities, having an aggregate fair value of $49.6 million, which were in an unrealized loss position at June 30, 2019, compared to 49 securities, with a fair value of $229.6 million, at December 31, 2018. The unrealized losses in the Company's investments at June 30, 2019 and December 31, 2018 were caused by changes in interest rates. Management evaluated all of the held-to-maturity securities in an unrealized loss position and concluded that no OTTI existed at June 30, 2019 or December 31, 2018. The Company has no intention to sell these securities before recovery of their amortized cost and believes it will not be required to sell the securities before the recovery of their amortized cost. The carrying value of held-to-maturity investment securities pledged as collateral totaled $177.1 million and $133.1 million at June 30, 2019 and December 31, 2018, respectively. Actual maturities of mortgage-backed securities may differ from scheduled maturities depending on the repayment characteristics and experience of the underlying financial instruments. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans | Note 4 Loans The loan portfolio is comprised of loans originated by the Company and loans that were acquired in connection with the Company’s acquisitions. The tables below show the loan portfolio composition including carrying value by segment of originated and acquired loans and loans accounted for under ASC 310-30, Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality June 30, 2019 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,863,117 $ 18,247 $ 2,881,364 66.6% Commercial real estate non-owner occupied 584,263 35,585 619,848 14.3% Residential real estate 799,566 6,760 806,326 18.6% Consumer 22,725 — 22,725 0.5% Total $ 4,269,671 $ 60,592 $ 4,330,263 100.0% December 31, 2018 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,624,173 $ 20,398 $ 2,644,571 64.6% Commercial real estate non-owner occupied 551,819 40,393 592,212 14.5% Residential real estate 820,820 9,995 830,815 20.3% Consumer 24,617 93 24,710 0.6% Total $ 4,021,429 $ 70,879 $ 4,092,308 100.0% Delinquency for originated and acquired loans is shown in the following tables at June 30, 2019 and December 31, 2018: June 30, 2019 Greater 30-89 days than 90 days Total past past due and past due and Non-accrual due and accruing accruing loans non-accrual Current Total loans Originated and acquired loans: Commercial: Commercial and industrial $ 4,413 $ 34 $ 14,682 $ 19,129 $ 2,105,233 $ 2,124,362 Owner occupied commercial real estate 627 — 7,301 7,928 446,640 454,568 Food and agriculture — — 380 380 240,565 240,945 Energy — — 858 858 42,384 43,242 Total commercial 5,040 34 23,221 28,295 2,834,822 2,863,117 Commercial real estate non-owner occupied: Construction — — 1,208 1,208 90,955 92,163 Acquisition/development 4,725 — 9 4,734 13,242 17,976 Multifamily — — — — 42,166 42,166 Non-owner occupied 33 — 378 411 431,547 431,958 Total commercial real estate 4,758 — 1,595 6,353 577,910 584,263 Residential real estate: Senior lien 667 — 7,782 8,449 693,227 701,676 Junior lien 518 — 1,040 1,558 96,332 97,890 Total residential real estate 1,185 — 8,822 10,007 789,559 799,566 Consumer 84 — 65 149 22,576 22,725 Total originated and acquired loans $ 11,067 $ 34 $ 33,703 $ 44,804 $ 4,224,867 $ 4,269,671 December 31, 2018 Greater 30-89 days than 90 days Total past past due and past due and Non-accrual due and accruing accruing loans non-accrual Current Total loans Originated and acquired loans: Commercial: Commercial and industrial $ 495 $ 74 $ 5,510 $ 6,079 $ 1,925,068 $ 1,931,147 Owner occupied commercial real estate 893 — 6,931 7,824 413,842 421,666 Food and agriculture 141 125 768 1,034 221,122 222,156 Energy — — 742 742 48,462 49,204 Total commercial 1,529 199 13,951 15,679 2,608,494 2,624,173 Commercial real estate non-owner occupied: Construction — — 1,208 1,208 93,646 94,854 Acquisition/development — — 121 121 19,529 19,650 Multifamily — — — — 56,685 56,685 Non-owner occupied 328 132 572 1,032 379,598 380,630 Total commercial real estate 328 132 1,901 2,361 549,458 551,819 Residential real estate: Senior lien 2,106 548 7,790 10,444 712,592 723,036 Junior lien 556 — 772 1,328 96,456 97,784 Total residential real estate 2,662 548 8,562 11,772 809,048 820,820 Consumer 91 16 42 149 24,468 24,617 Total originated and acquired loans $ 4,610 $ 895 $ 24,456 $ 29,961 $ 3,991,468 $ 4,021,429 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. Pooled loans accounted for under ASC 310-30 that are 90 days or more past due and still accreting are generally considered to be performing and therefore are not included in the tables above. Non-accrual loans include non-accrual loans and troubled debt restructurings on non-accrual status. Non-accrual originated and acquired loans totaled $33.7 million at June 30, 2019, increasing $9.2 million, or 37.8% from December 31, 2018 primarily due to one previously acquired commercial loan placed on non-accrual during the second quarter of 2019. The Company’s internal risk rating system uses a series of grades which reflect our assessment of the credit quality of loans based on an analysis of the borrower's financial condition, liquidity and ability to meet contractual debt service requirements and are categorized as “Pass”, “Special mention”, “Substandard” and “Doubtful”. A description of the general characteristics of the risk grades is set forth in the Company’s 2018 Annual Report on Form 10-K Credit exposure for all loans as determined by the Company’s internal risk rating system was as follows as of June 30, 2019 and December 31, 2018, respectively: June 30, 2019 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 2,080,469 $ 23,621 $ 16,648 $ 3,624 $ 2,124,362 Owner occupied commercial real estate 419,981 21,648 12,779 160 454,568 Food and agriculture 223,810 15,971 1,131 33 240,945 Energy 42,383 — 859 — 43,242 Total commercial 2,766,643 61,240 31,417 3,817 2,863,117 Commercial real estate non-owner occupied: Construction 90,955 — 1,208 — 92,163 Acquisition/development 17,201 725 50 — 17,976 Multifamily 41,660 — 506 — 42,166 Non-owner occupied 415,655 15,231 1,035 37 431,958 Total commercial real estate 565,471 15,956 2,799 37 584,263 Residential real estate: Senior lien 689,558 3,420 8,698 — 701,676 Junior lien 96,327 418 1,145 — 97,890 Total residential real estate 785,885 3,838 9,843 — 799,566 Consumer 22,660 — 65 — 22,725 Total originated and acquired loans $ 4,140,659 $ 81,034 $ 44,124 $ 3,854 $ 4,269,671 Loans accounted for under ASC 310-30: Commercial $ 15,588 $ 525 $ 2,134 $ — $ 18,247 Commercial real estate non-owner occupied 34,664 229 692 — 35,585 Residential real estate 5,036 383 1,341 — 6,760 Consumer — — — — — Total loans accounted for under ASC 310-30 $ 55,288 $ 1,137 $ 4,167 $ — $ 60,592 Total loans $ 4,195,947 $ 82,171 $ 48,291 $ 3,854 $ 4,330,263 December 31, 2018 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,890,710 $ 16,531 $ 22,919 $ 987 $ 1,931,147 Owner occupied commercial real estate 393,404 16,349 11,828 85 421,666 Food and agriculture 220,004 1,260 847 45 222,156 Energy 48,462 — 742 — 49,204 Total commercial 2,552,580 34,140 36,336 1,117 2,624,173 Commercial real estate non-owner occupied: Construction 92,731 915 1,208 — 94,854 Acquisition/development 19,529 — 121 — 19,650 Multifamily 56,685 — — — 56,685 Non-owner occupied 355,776 23,243 1,611 — 380,630 Total commercial real estate 524,721 24,158 2,940 — 551,819 Residential real estate: Senior lien 710,972 3,571 8,493 — 723,036 Junior lien 96,456 415 913 — 97,784 Total residential real estate 807,428 3,986 9,406 — 820,820 Consumer 24,575 — 42 — 24,617 Total originated and acquired loans $ 3,909,304 $ 62,284 $ 48,724 $ 1,117 $ 4,021,429 Loans accounted for under ASC 310-30: Commercial $ 17,579 $ 537 $ 2,282 $ — $ 20,398 Commercial real estate non-owner occupied 39,322 246 825 — 40,393 Residential real estate 7,484 908 1,603 — 9,995 Consumer — — 93 — 93 Total loans accounted for under ASC 310-30 $ 64,385 $ 1,691 $ 4,803 $ — $ 70,879 Total loans $ 3,973,689 $ 63,975 $ 53,527 $ 1,117 $ 4,092,308 Impaired Loans Loans are considered to be impaired when it is probable that the Company will not be able to collect all amounts due in accordance with the contractual terms of the loan agreement. Impaired loans are comprised of originated and acquired loans on non-accrual status, loans in bankruptcy and troubled debt restructurings (“TDRs”) described below. If a specific allowance is warranted based on the borrower’s overall financial condition, the specific allowance is calculated based on discounted cash flows using the loan’s initial contractual effective interest rate or the fair value of the collateral less selling costs for collateral dependent loans. At June 30, 2019 and December 31, 2018, the Company’s recorded investment in impaired loans was $40.4 million and $31.1 million, respectively, of which $2.6 million and $4.1 million, respectively, were accruing TDRs. Impaired loans increased primarily due to one previously acquired commercial loan placed on non-accrual during the second quarter of 2019. Impaired loans had a collective related allowance for loan losses allocated to them of $3.9 million and $1.2 million at June 30, 2019 and December 31, 2018, respectively. Additional information regarding impaired loans at June 30, 2019 and December 31, 2018 is set forth in the table below: June 30, 2019 December 31, 2018 Allowance Allowance Unpaid for loan Unpaid for loan principal Recorded losses principal Recorded losses balance investment allocated balance investment allocated With no related allowance recorded: Commercial: Commercial and industrial $ 4,156 $ 2,721 $ — $ 4,374 $ 3,029 $ — Owner occupied commercial real estate 7,338 6,701 — 7,130 6,609 — Food and agriculture 1,476 1,220 — 1,468 1,260 — Energy 5,483 859 — 5,366 742 — Total commercial 18,453 11,501 — 18,338 11,640 — Commercial real estate non-owner occupied: Construction 1,435 1,208 — 1,435 1,208 — Acquisition/development 38 9 — 378 121 — Multifamily — — — — — — Non-owner occupied 91 28 — 641 547 — Total commercial real estate 1,564 1,245 — 2,454 1,876 — Residential real estate: Senior lien 4,105 3,854 — 4,229 3,814 — Junior lien 361 331 — 409 341 — Total residential real estate 4,466 4,185 — 4,638 4,155 — Consumer 70 65 — 46 42 — Total impaired loans with no related allowance recorded $ 24,553 $ 16,996 $ — $ 25,476 $ 17,713 $ — With a related allowance recorded: Commercial: Commercial and industrial $ 16,758 $ 14,107 $ 3,635 $ 7,252 $ 4,627 $ 996 Owner occupied commercial real estate 1,599 1,388 165 1,362 1,169 90 Food and agriculture 835 821 36 883 845 46 Energy — — — — — — Total commercial 19,192 16,316 3,836 9,497 6,641 1,132 Commercial real estate non-owner occupied: Construction — — — — — — Acquisition/development — — — — — — Multifamily — — — — — — Non-owner occupied 600 541 39 313 254 2 Total commercial real estate 600 541 39 313 254 2 Residential real estate: Senior lien 6,158 5,259 26 6,032 5,178 27 Junior lien 1,419 1,286 8 1,408 1,293 8 Total residential real estate 7,577 6,545 34 7,440 6,471 35 Consumer — — — — — — Total impaired loans with a related allowance recorded $ 27,369 $ 23,402 $ 3,909 $ 17,250 $ 13,366 $ 1,169 Total impaired loans $ 51,922 $ 40,398 $ 3,909 $ 42,726 $ 31,079 $ 1,169 The table below shows additional information regarding the average recorded investment and interest income recognized on impaired loans for the periods presented: For the three months ended June 30, 2019 June 30, 2018 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 2,755 $ 44 $ 5,321 $ 90 Owner occupied commercial real estate 6,719 5 6,723 17 Food and agriculture 1,221 — 1,259 — Energy 831 — 1,843 17 Total commercial 11,526 49 15,147 124 Commercial real estate non-owner occupied: Construction 1,208 — 1,081 — Acquisition/development 9 — 827 — Multifamily — — — — Non-owner occupied 29 — 574 — Total commercial real estate 1,246 — 2,481 — Residential real estate: Senior lien 3,869 — 2,818 — Junior lien 334 — 354 — Total residential real estate 4,203 — 3,172 — Consumer 11 — 14 — Total impaired loans with no related allowance recorded $ 16,986 $ 49 $ 20,815 $ 124 With a related allowance recorded: Commercial: Commercial and industrial $ 14,161 $ — $ 4,607 $ — Owner occupied commercial real estate 1,397 6 1,233 4 Food and agriculture 844 3 2,142 1 Energy — — — — Total commercial 16,402 9 7,982 5 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily — — 9 — Non-owner occupied 548 4 297 5 Total commercial real estate 548 4 306 5 Residential real estate: Senior lien 5,298 16 5,744 13 Junior lien 1,297 10 1,187 11 Total residential real estate 6,595 26 6,931 23 Consumer 56 — 31 — Total impaired loans with a related allowance recorded $ 23,601 $ 39 $ 15,250 $ 33 Total impaired loans $ 40,587 $ 88 $ 36,065 $ 158 For the six months ended June 30, 2019 June 30, 2018 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 2,805 $ 88 $ 5,565 $ 173 Owner occupied commercial real estate 6,761 14 6,793 35 Food and agriculture 1,412 — 1,259 6 Energy 804 — 2,098 37 Total Commercial 11,782 102 15,715 251 Commercial real estate non-owner occupied: Construction 1,208 — 1,081 — Acquisition/development 10 — 856 — Multifamily — — — — Non-owner occupied 30 — 591 — Total commercial real estate 1,248 — 2,528 — Residential real estate: Senior lien 3,892 — 2,846 — Junior lien 339 1 358 — Total residential real estate 4,231 1 3,204 — Consumer 11 — 14 — Total impaired loans with no related allowance recorded $ 17,272 $ 103 $ 21,461 $ 251 With a related allowance recorded: Commercial: Commercial and industrial $ 14,319 $ — $ 4,639 $ — Owner occupied commercial real estate 1,411 12 1,249 9 Food and agriculture 845 4 2,084 2 Energy — — — — Total Commercial 16,575 16 7,972 11 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily — — 19 — Non-owner occupied 557 9 308 9 Total commercial real estate 557 9 327 9 Residential real estate: Senior lien 5,375 29 5,821 26 Junior lien 1,311 21 1,202 20 Total residential real estate 6,686 50 7,023 46 Consumer 58 — 32 — Total impaired loans with a related allowance recorded $ 23,876 $ 75 $ 15,354 $ 66 Total impaired loans $ 41,148 $ 178 $ 36,815 $ 317 Interest income recognized on impaired loans noted in the tables above primarily represents interest earned on accruing TDRs. Interest income recognized on impaired loans during the three months ended June 30, 2019 and 2018 was $0.1 million and $0.2 million, respectively. Interest income recognized on impaired loans during the six months ended June 30, 2019 and 2018 was $0.2 million and $0.3 million, respectively. Troubled debt restructurings The Company’s policy is to review each prospective credit to determine the appropriateness and the adequacy of security or collateral prior to making a loan. In the event of borrower default the Company seeks recovery in compliance with lending laws, the respective loan agreements and credit monitoring and remediation procedures that may include restructuring a loan to provide a concession by the Company to the borrower from their original terms due to borrower financial difficulties in order to facilitate repayment. Additionally, if a borrower’s repayment obligation has been discharged by a court, and that debt has not been reaffirmed by the borrower, regardless of past due status, the loan is considered to be a TDR. During the six months ended June 30, 2019, the Company restructured ten loans with a recorded investment of $4.0 million at June 30, 2019 to facilitate repayment. All of the loan modifications were a reduction of the principal payment, a reduction in interest rate, or an extension of term. Loan modifications to loans accounted for under ASC 310-30 are not considered TDRs. The tables below provide additional information related to accruing TDRs at June 30, 2019 and December 31, 2018: June 30, 2019 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 1,181 $ 1,192 $ 1,301 $ 151 Commercial real estate non-owner occupied 177 191 222 — Residential real estate 1,276 1,299 1,315 12 Consumer — — — — Total $ 2,634 $ 2,682 $ 2,838 $ 163 December 31, 2018 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 2,730 $ 2,827 $ 3,155 $ — Commercial real estate non-owner occupied 229 260 280 — Residential real estate 1,114 1,163 1,121 12 Consumer — — — — Total $ 4,073 $ 4,250 $ 4,556 $ 12 The following table summarizes the Company’s carrying value of non-accrual TDRs as of June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Commercial $ 4,682 $ 1,854 Commercial real estate non-owner occupied — — Residential real estate 1,748 1,584 Consumer — — Total non-accruing TDRs $ 6,430 $ 3,438 At June 30, 2019 and December 31, 2018, the Company had $2.6 million and $4.1 million, respectively, of accruing TDRs that had been restructured from the original terms in order to facilitate repayment. Non-accruing TDRs totaled $6.4 million as of June 30, 2019 and increased $3.0 million from December 31, 2018. Accrual of interest is resumed on loans that were previously on non-accrual only after the loan has performed sufficiently for a period of time. The Company had two TDRs totaling $0.2 million that were modified within the past twelve months and had defaulted on their restructured terms during the six months ended June 30, 2019. During the six months ended June 30, 2018, the Company had one TDR totaling $0.2 million that was modified within the past twelve months and had defaulted on its restructured terms. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due on principal or interest. The allowance for loan losses related to troubled debt restructurings on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as TDRs. Loans accounted for under ASC 310-30 Loan pools accounted for under ASC Topic 310-30 are periodically remeasured to determine expected future cash flows. In determining the expected cash flows, the timing of cash flows and prepayment assumptions for smaller homogeneous loans are based on statistical models that take into account factors such as the loan interest rate, credit profile of the borrowers, the years in which the loans were originated, and whether the loans are fixed or variable rate loans. Prepayments may be assumed on loans if circumstances specific to that loan warrant a prepayment assumption. The remeasurement of loans accounted for under ASC 310-30 resulted in the following changes in the carrying amount of accretable yield during the six months ended June 30, 2019 and 2018: June 30, 2019 June 30, 2018 Accretable yield beginning balance $ 35,901 $ 46,568 Reclassification from non-accretable difference 2,869 8,053 Reclassification to non-accretable difference (731) (1,695) Accretion (6,981) (10,224) Accretable yield ending balance $ 31,058 $ 42,702 Below is the composition of the net book value for loans accounted for under ASC 310-30 at June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Contractual cash flows $ 403,727 $ 420,994 Non-accretable difference (312,077) (314,214) Accretable yield (31,058) (35,901) Loans accounted for under ASC 310-30 $ 60,592 $ 70,879 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 5 Allowance for Loan Losses The tables below detail the Company’s allowance for loan losses and recorded investment in loans as of and for the three and six months ended June 30, 2019 and 2018: Three months ended June 30, 2019 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 28,075 $ 4,914 $ 3,718 $ 348 $ 37,055 Originated and acquired beginning balance 27,894 4,914 3,684 348 36,840 Charge-offs (70) — (24) (200) (294) Recoveries 3 — 16 63 82 Provision 2,815 153 165 130 3,263 Originated and acquired ending balance 30,642 5,067 3,841 341 39,891 ASC 310-30 beginning balance 181 — 34 — 215 Charge-offs — — — — — Recoveries — — — — — Recoupment — — (24) — (24) ASC 310-30 ending balance 181 — 10 — 191 Ending balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Three months ended June 30, 2018 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 21,578 $ 4,890 $ 3,928 $ 290 $ 30,686 Originated and acquired beginning balance 21,485 4,871 3,928 290 30,574 Charge-offs — (11) (90) (234) (335) Recoveries 13 — 4 50 67 Provision 1,902 (318) (61) 200 1,723 Originated and acquired ending balance 23,400 4,542 3,781 306 32,029 ASC 310-30 beginning balance 93 19 — — 112 Charge-offs (61) — — — (61) Recoveries — — — — — Provision 150 — — — 150 ASC 310-30 ending balance 182 19 — — 201 Ending balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Six months ended June 30, 2019 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 27,137 $ 4,406 $ 3,800 $ 349 $ 35,692 Originated and acquired beginning balance 26,946 4,406 3,760 349 35,461 Charge-offs (82) — (47) (433) (562) Recoveries 30 11 29 109 179 Provision 3,748 650 99 316 4,813 Originated and acquired ending balance 30,642 5,067 3,841 341 39,891 ASC 310-30 beginning balance 191 — 40 — 231 Charge-offs — — — — — Recoveries — — — — — Recoupment (10) — (30) — (40) ASC 310-30 ending balance 181 — 10 — 191 Ending balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 3,836 $ 39 $ 34 $ — $ 3,909 Originated and acquired loans collectively evaluated for impairment 26,806 5,028 3,807 341 35,982 ASC 310-30 loans 181 — 10 — 191 Total ending allowance balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Loans: Originated and acquired loans individually evaluated for impairment $ 27,818 $ 1,786 $ 10,729 $ 1,600 $ 41,933 Originated and acquired loans collectively evaluated for impairment 2,835,299 582,477 788,837 21,125 4,227,738 ASC 310-30 loans 18,247 35,585 6,760 — 60,592 Total loans $ 2,881,364 $ 619,848 $ 806,326 $ 22,725 $ 4,330,263 Six months ended June 30, 2018 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 21,385 $ 5,609 $ 3,965 $ 305 $ 31,264 Originated and acquired beginning balance 21,340 5,583 3,965 305 31,193 Charge-offs (437) (11) (90) (513) (1,051) Recoveries 55 — 6 103 164 Provision 2,442 (1,030) (100) 411 1,723 Originated and acquired ending balance 23,400 4,542 3,781 306 32,029 ASC 310-30 beginning balance 45 26 — — 71 Charge-offs (61) — — — (61) Recoveries — — — — — Provision (recoupment) 198 (7) — — 191 ASC 310-30 ending balance 182 19 — — 201 Ending balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 1,204 $ 2 $ 32 $ 1 $ 1,239 Originated and acquired loans collectively evaluated for impairment 22,196 4,540 3,749 305 30,790 ASC 310-30 loans 182 19 — — 201 Total ending allowance balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Loans: Originated and acquired loans individually evaluated for impairment $ 22,038 $ 2,767 $ 9,974 $ 43 $ 34,822 Originated and acquired loans collectively evaluated for impairment 2,273,002 591,974 816,696 26,107 3,707,779 ASC 310-30 loans 23,078 48,411 11,365 100 82,954 Total loans $ 2,318,118 $ 643,152 $ 838,035 $ 26,250 $ 3,825,555 In evaluating the loan portfolio for an appropriate ALL level, non-impaired originated and acquired loans were grouped into segments based on broad characteristics such as primary use and underlying collateral. Within the segments, the portfolio was further disaggregated into classes of loans with similar attributes and risk characteristics for purposes of applying loss ratios and determining applicable subjective adjustments to the ALL. The application of subjective adjustments was based upon qualitative risk factors, including economic trends and conditions, industry conditions, asset quality, loss trends, lending management, portfolio growth and loan review/internal audit results. Net charge-offs on originated and acquired loans during the three and six months ended June 30, 2019 were $0.2 million and $0.4 million, respectively. Management's evaluation of credit quality resulted in provision for originated and acquired loan losses of $3.3 million and $4.8 million during the three and six months ended June 30, 2019, respectively. Included in provision was a $2.4 million specific reserve for one previously acquired commercial loan placed on non-accrual during the second quarter of 2019. Provision for originated and acquired loans for the three and six months ended June 30, 2018 was $1.7 million and $1.7 million, respectively. During the six months ended June 30, 2019, the Company re-estimated the expected cash flows of the loan pools accounted for under ASC 310-30. The remeasurement during the three and six months ended June 30, 2019 resulted in recoupment of $24 thousand and $40 thousand, respectively. The remeasurement during the three and six months ended June 30, 2018 resulted in net provision of $150 thousand and $191 thousand, respectively. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases | |
Leases | Note 6 Leases The Company adopted ASU 2016-02, Leases million, respectively, and were included within other assets and other liabilities, respectively, on the consolidated statements of financial condition. The ROU assets represent the Company’s right to use, or control the use of, an underlying asset for the lease term and the lease liabilities represent the Company’s obligation to make lease payments arising from the lease terms. The updates did not significantly change lease accounting requirements applicable to lessors and did not significantly impact our financial statements in relation to contracts whereby we act as a lessor. The Company has operating leases for banking centers, corporate offices and ATMs, with remaining lease terms ranging from one year to 9 years . The Company only included reasonably certain renewal options in the lease terms. The weighted-average remaining lease term for our operating leases was 5.0 years at June 30, 2019. As of June 30, 2019, the weighted-average discount rate was 3.43%, utilizing the Company’s incremental FHLB borrowing rate for borrowings of a similar term at the date of lease commencement. Rent expense totaled $1.4 million and $2.8 million for the three and six months ended June 30, 2019, respectively, and was recorded within occupancy and equipment on the consolidated statements of operations. Lease payments do not include non-lease components such as real estate taxes, insurance, and common area maintenance. Below is a summary of undiscounted future minimum lease payments as of June 30, 2019 per ASC Topic 842, Leases Amount For the six months ending December 31, 2019 $ 2,838 For the year ending December 31, 2020 5,172 For the year ending December 31, 2021 4,843 For the year ending December 31, 2022 4,324 For the year ending December 31, 2023 3,921 Thereafter 16,570 Total lease payments 37,668 Less: Imputed interest 9,608 Present value of operating lease liabilities $ 28,060 Below is a summary of undiscounted future minimum lease payments as of December 31, 2018 per ASC Topic 840, Leases Years ending December 31, Amount 2019 $ 3,092 2020 2,981 2021 3,091 2022 3,052 2023 2,047 Thereafter 10,163 Total $ 24,426 |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2019 | |
Other Real Estate Owned | |
Other Real Estate Owned | Note 7 Other Real Estate Owned A summary of the activity in the OREO balances during the six months ended June 30, 2019 and 2018 is as follows: For the six months ended June 30, 2019 2018 Beginning balance $ 10,596 $ 10,491 Acquired through acquisition — 1,253 Transfers from loan portfolio, at fair value 288 24,382 Impairments (684) (64) Sales (3,146) (593) Ending balance $ 7,054 $ 35,469 OREO totaled $7.1 million at June 30, 2019 and decreased $3.5 million from December 31, 2018. During the three and six months ended June 30, 2019, the Company sold $2.3 million and $3.1 million of OREO, respectively. OREO net gains of $0.7 million and net losses of $0.1 million were included in the consolidated statement of operations for the six months ended June 30, 2019 and 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets | |
Goodwill and Intangible Assets | Note 8 Goodwill and Intangible Assets Goodwill and core deposit intangible In connection with all of our acquisitions, the Company recorded goodwill of $115.0 million and core deposit intangible assets of $48.8 million. The goodwill is measured as the excess of the fair value of consideration paid over the fair value of net assets acquired. No goodwill impairment was recorded during the three or six months ended June 30, 2019 or the year ended December 31, 2018. The gross carrying amount of the core deposit intangibles and the associated accumulated amortization at June 30, 2019 and December 31, 2018, are presented as follows: June 30, 2019 December 31, 2018 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount Core deposit intangible $ 48,834 $ 39,511 $ 9,323 $ 48,834 $ 38,920 $ 9,914 The Company is amortizing the core deposit intangibles from acquisitions on a straight line basis over 7-10 years from the date of the respective acquisitions, which represents the expected useful life of the assets. The Company recognized core deposit intangible amortization expense of $0.3 million and $0.6 million during the three and six months ended June 30, 2019, respectively, and $0.7 million and $1.4 million during the three and six months ended June 30, 2018, respectively. The following table shows the estimated future amortization expense for the core deposit intangibles as of June 30, 2019: Amount For the six months ending December 31, 2019 $ 592 For the year ending December 31, 2020 1,183 For the year ending December 31, 2021 1,183 For the year ending December 31, 2022 1,127 For the year ending December 31, 2023 1,048 Mortgage servicing rights Mortgage servicing rights represent rights to service loans originated by the Company and sold to government sponsored enterprises including FHLMC, FNMA, GNMA and FHLB. Mortgage loans serviced for others were $357.0 million and $419.8 million at June 30, 2019 and 2018, respectively. Below are the changes in the mortgage servicing rights for the periods presented: For the six months ended June 30, 2019 2018 Beginning balance $ 3,556 $ — Acquired through acquisition — 4,301 Originations 18 — Impairment (277) — Amortization (353) (386) Ending balance $ 2,944 $ 3,915 Fair value of mortgage servicing rights $ 2,945 $ 4,473 The fair value of mortgage servicing rights was determined based upon a discounted cash flow analysis. The cash flow analysis included assumptions for discount rates and prepayment speeds. Discount rates ranged from 9.5% to 10.5% and the constant prepayment speed ranged from 15.9% to 23.2% for the June 30, 2019 valuation. Included in mortgage banking income in the consolidated statements of operations were service fees of $0.3 million and $0.5 million for the three and six months ended June 30, 2019, respectively, and $0.3 million and $0.7 million for the three and six months ended June 30, 2018, respectively. Mortgage servicing rights are evaluated and impairment is recognized to the extent fair value is less than the carrying amount. The Company evaluates impairment by type (FHLMC, FNMA, GNMA and FHLB) and interest rate. The Company is amortizing the mortgage servicing rights in proportion to and over the period of the estimated net servicing income of the underlying loans. The Company recognized mortgage servicing rights amortization expense of $0.2 million and $0.4 million for the three and six months ended June 30, 2019, respectively, and $0.2 million and $0.4 million for the three and six months ended June 30, 2018, respectively. The following table shows the estimated future amortization expense for the mortgage servicing rights as of June 30, 2019: Amount For the six months ending December 31, 2019 $ 300 For the year ending December 31, 2020 539 For the year ending December 31, 2021 429 For the year ending December 31, 2022 342 For the year ending December 31, 2023 272 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2019 | |
Borrowings | |
Borrowings | Note 9 Borrowings The Company enters into repurchase agreements to facilitate the needs of its clients. As of June 30, 2019 and December 31, 2018, the Company sold securities under agreements to repurchase totaling $60.4 million and $66.0 million, respectively, and none were for periods longer than one day. The Company pledged mortgage-backed securities with a fair value of approximately $70.0 million and $73.9 million as of June 30, 2019 and December 31, 2018, respectively, for these agreements. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. As of June 30, 2019 and December 31, 2018, the Company had $7.7 million and $5.9 million of excess collateral pledged for repurchase agreements, respectively. As a member of the FHLB, the Bank has access to a line of credit and term financing from the FHLB with total available credit of $1.2 billion at June 30, 2019. At June 30, 2019 and December 31, 2018 the Bank had $257.4 million and $234.3 million in line of credit advances from the FHLB, respectively, that mature within a day. At June 30, 2019, the Company had one term advance remaining totaling $15.0 million, which had a fixed interest rate of 2.33% and a maturity date of October 2020 . At December 31, 2018, the Company had $67.3 million in term advances from the FHLB with fixed interest rates between 1.55% - 2.33% and maturity dates of 2019 - 2020 . The Bank had investment securities and loans pledged as collateral for FHLB advances. Investment securities pledged were $16.0 million at June 30, 2019 and $16.0 million at December 31, 2018. Loans pledged were $1.6 billion at June 30, 2019 and $1.6 billion at December 31, 2018. Interest expense related to FHLB advances totaled $1.9 million and $3.4 million for the three and six months ended June 30, 2019, respectively, and $0.6 million and $1.1 million for the three and six months ended June 30, 2018, respectively. |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Capital | |
Regulatory Capital | Note 10 Regulatory Capital As a bank holding company, the Company is subject to regulatory capital adequacy requirements implemented by the Federal Reserve. The federal banking agencies have risk-based capital adequacy regulations intended to provide a measure of capital adequacy that reflects the degree of risk associated with a banking organization’s operations. Under these regulations, assets are assigned to one of several risk categories, and nominal dollar amounts of assets and credit equivalent amounts of off-balance-sheet items are multiplied by a risk adjustment percentage for the category. The Basel III rules, effective January 1, 2015, changed the components of regulatory capital, changed the way in which risk ratings are assigned to various categories of bank assets and defined a new Tier 1 common risk-based ratio. In addition, a capital conservation buffer requirement, which was fully phased in on January 1, 2019, added a 2.5% capital requirement above existing regulatory minimum ratios. Under the Basel III requirements, at June 30, 2019 and December 31, 2018, the Company and the Bank met all capital requirements and the Bank had regulatory capital ratios in excess of the levels established for well-capitalized institutions, as detailed in the tables below. June 30, 2019 Required to be Required to be well capitalized under considered prompt corrective adequately Actual action provisions capitalized Ratio Amount Ratio Amount Ratio Amount Tier 1 leverage ratio: Consolidated 10.6% $ 607,352 N/A N/A 4.0% $ 229,151 NBH Bank 8.8% 502,988 5.0% $ 286,051 4.0% 228,841 Common equity tier 1 risk-based capital: Consolidated 12.9% $ 607,352 N/A N/A 7.0% $ 401,014 NBH Bank 10.7% 502,988 6.5% $ 371,866 7.0% 400,471 Tier 1 risk-based capital ratio: Consolidated 12.9% $ 607,352 N/A N/A 8.5% $ 401,082 NBH Bank 10.7% 502,988 8.0% $ 376,917 8.5% 400,474 Total risk-based capital ratio: Consolidated 13.8% $ 650,389 N/A N/A 10.5% $ 495,455 NBH Bank 11.6% 546,025 10.0% $ 471,146 10.5% 494,703 December 31, 2018 Required to be Required to be well capitalized under considered prompt corrective adequately Actual action provisions capitalized (1) Ratio Amount Ratio Amount Ratio Amount Tier 1 leverage ratio: Consolidated 10.5% $ 580,504 N/A N/A 4.0% $ 220,988 NBH Bank 9.0% 498,283 5.0% $ 275,703 4.0% 220,563 Common equity tier 1 risk-based capital: Consolidated 12.9% $ 580,504 N/A N/A 7.0% $ 386,728 NBH Bank 11.1% 498,283 6.5% $ 358,414 7.0% 385,984 Tier 1 risk-based capital ratio: Consolidated 12.9% $ 580,504 N/A N/A 8.5% $ 382,306 NBH Bank 11.1% 498,283 8.0% $ 358,938 8.5% 381,372 Total risk-based capital ratio: Consolidated 13.8% $ 620,275 N/A N/A 10.5% $ 472,261 NBH Bank 12.0% 538,054 10.0% $ 448,672 10.5% 471,106 (1) As of the fully phased-in date of January 1, 2019, including the capital conservation buffer. |
Revenue from Contracts with Cli
Revenue from Contracts with Clients | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contracts with Clients | |
Revenue from Contracts with Clients | Note 11 Revenue from Contracts with Clients The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers Service Charges and other fees Service charge fees are primarily comprised of monthly service fees, check orders and other deposit account related fees. Other fees include revenue from processing Bank card fees Bank card fees are primarily comprised of debit card income, ATM fees, merchant services income, and other fees. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit card transactions. The Company’s performance obligation for bank card fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. (Gain) loss on OREO Sales, net (Gain) loss on OREO Sales, net is recognized when the Company meets its performance obligation to transfer title to the buyer. The gain or loss is measured as the excess of the proceeds received compared to the OREO carrying value. Sales proceeds are received in cash at the time of transfer. The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, and non-interest expense in-scope of Topic 606 for the three and six months ended June 30, 2019 and 2018. For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Non-interest income In-scope of Topic 606: Service Charges and other fees $ 4,868 $ 5,008 $ 9,710 $ 10,183 Bank card fees 3,766 3,672 7,194 7,034 Non-interest income (in-scope of Topic 606) 8,634 8,680 16,904 17,217 Non-interest income (out-of-scope of Topic 606) 12,026 10,882 20,807 20,181 Total non-interest income $ 20,660 $ 19,562 $ 37,711 $ 37,398 Non-interest expense In-scope of Topic 606: (Gain) loss on OREO sales, net (318) (14) (686) 64 Total revenue in-scope of Topic 606 $ 8,316 $ 8,666 $ 16,218 $ 17,281 Contract Balances A contract asset balance occurs when an entity performs a service for a client before the client pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a client for which the entity has already received payment (or payment is due) from the client. The Company’s non-interest revenue streams are largely based on transactional activity or standard month-end revenue accruals. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with clients, and therefore, does not experience significant contract balances. As of June 30, 2019 and December 31, 2018, the Company did not have any contract balances. Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a client if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a client that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. The Company has not capitalized any contract acquisition costs. |
Stock-based Compensation and Be
Stock-based Compensation and Benefits | 6 Months Ended |
Jun. 30, 2019 | |
Stock-based Compensation and Benefits | |
Stock-based Compensation and Benefits | Note 12 Stock-based Compensation and Benefits The Company provides stock-based compensation in accordance with shareholder-approved plans. During the second quarter of 2014, shareholders approved the 2014 Omnibus Incentive Plan (the "2014 Plan"). The 2014 Plan replaces the NBH Holdings Corp. 2009 Equity Incentive Plan (the "Prior Plan"), pursuant to which the Company granted equity awards prior to the approval of the 2014 Plan. Pursuant to the 2014 Plan, the Compensation Committee of the Board of Directors has the authority to grant, from time to time, awards of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, other stock-based awards, or any combination thereof to eligible persons. Stock options The Company issues stock options, which are primarily time-vesting with 1/3 vesting on each of the first, second and third anniversary of the date of grant or date of hire. The expense associated with the awarded stock options was measured at fair value using a Black-Scholes option-pricing model. The outstanding option awards vest or have vested on a graded basis over 1-3 years of continuous service and have 10-year contractual terms. The following table summarizes stock option activity for the six months ended June 30, 2019: Weighted average Weighted remaining average contractual Aggregate exercise term in intrinsic Options price years value Outstanding at December 31, 2018 1,264,876 $ 22.33 3.92 $ 11,387 Granted 146,609 34.19 Exercised (685,198) 20.11 Forfeited (42,903) 30.94 Outstanding at June 30, 2019 683,384 $ 26.56 6.76 $ 6,671 Options exercisable at June 30, 2019 423,632 22.15 5.27 5,997 Options vested and expected to vest 645,766 26.13 6.61 6,578 Stock option expense is a component of salaries and benefits in the consolidated statements of operations and totaled $0.2 million and $0.2 million for the three months ended June 30, 2019 and 2018, respectively, and $0.3 million and $0.4 million for the six months ended June 30, 2019 and 2018, respectively. At June 30, 2019, there was $1.0 million of total unrecognized compensation cost related to non-vested stock options granted under the plans. The cost is expected to be recognized over a weighted average period of 2.4 years. Restricted stock awards The Company issues primarily time-based restricted stock awards that vest over a range of a 1 - 3 year period. Restricted stock with time-based vesting was valued at the fair value of the shares on the date of grant as they are assumed to be held beyond the vesting period. Performance stock units The Company grants performance stock units which represent initial target awards and do not reflect potential increases or decreases resulting from the final performance results, which are to be determined at the end of the three-year performance period (vesting date). The actual number of shares to be awarded at the end of the performance period will range from 0% - 150% of the initial target awards. 60% of the award is based on the Company’s cumulative earnings per share (EPS target) during the performance period, and 40% of the award is based on the Company’s cumulative total shareholder return (TSR target), or TSR, during the performance period. On the vesting date, the Company’s TSR will be compared to the respective TSRs of the companies comprising the KBW Regional Index at the grant date to determine the shares awarded. The fair value of the EPS target portion of the award was determined based on the closing stock price of the Company’s common stock on the grant date. The fair value of the TSR target portion of the award was determined using a Monte Carlo Simulation at the grant date. The weighted-average grant date fair value per unit for awards granted during the six months ended June 30, 2019 of the EPS target portion and the TSR target portion was $34.08 and $27.01, respectively. The following table summarizes restricted stock and performance stock unit activity during the six months ended June 30, 2019: Weighted Weighted Restricted average grant- Performance average grant- stock shares date fair value stock units date fair value Unvested at December 31, 2018 146,494 $ 28.19 192,049 $ 26.40 Granted 84,008 35.05 60,781 30.85 Net adjustment due to performance — — 22,246 17.36 Vested (73,879) 23.46 (95,308) 18.02 Forfeited (18,108) 31.88 (19,401) 31.54 Unvested at June 30, 2019 138,515 $ 34.39 160,367 $ 31.19 As of June 30, 2019, the total unrecognized compensation cost related to the non-vested restricted stock awards and performance stock units totaled $3.4 million and $3.3 million, respectively, and is expected to be recognized over a weighted average period of approximately 2.2 years and 2.1 years, respectively. Expense related to non-vested restricted stock awards totaled $0.8 million and $0.6 million during the three months ended June 30, 2019 and 2018, respectively, and $0.9 million and $1.0 million during the six months ended June 30, 2019 and 2018, respectively. Expense related to non-vested performance stock units totaled $0.5 million and $0.4 million during the three months ended June 30, 2019 and 2018, respectively, and $0.7 million and $0.7 million during the six months ended June 30, 2019 and 2018, respectively. Expense related to non-vested restricted stock awards and units is a component of salaries and benefits in the Company’s consolidated statements of operations. Employee Stock Purchase Plan The 2014 Employee Stock Purchase Plan (“ESPP”) is intended to be a qualified plan within the meaning of Section 423 of the Internal Revenue Code of 1986 and allows eligible employees to purchase shares of common stock through payroll deductions up to a limit of $25,000 per calendar year and 2,000 shares per offering period. The price an employee pays for shares is 90.0% of the fair market value of Company common stock on the last day of the offering period. The offering periods are the six-month periods commencing on March 1 and September 1 of each year and ending on August 31 and February 28 (or February 29 in the case of a leap year) of each year. There are no vesting or other restrictions on the stock purchased by employees under the ESPP. Under the ESPP, the total number of shares of common stock reserved for issuance totaled 400,000 shares, of which 336,443 was available for issuance. Under the ESPP, employees purchased 6,201 shares and 5,960 shares during the six months ended June 30, 2019 and 2018, respectively. |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2019 | |
Common Stock | |
Common Stock | Note 13 Common Stock The Company had 31,139,044 and 30,769,063 shares of Class A common stock outstanding at June 30, 2019 and December 31, 2018, respectively. Additionally, the Company had 138,515 and 146,494 shares outstanding at June 30, 2019 and December 31, 2018, respectively, of restricted Class A common stock issued but not yet vested under the 2014 Omnibus Incentive Plan that are not included in shares outstanding until such time that they are vested; however, these shares do have voting and certain dividend rights during the vesting period. On August 5, 2016, the Board of Directors authorized a new share repurchase program for up to $50.0 million from time to time in either the open market or through privately negotiated transactions. The remaining authorization under this program as of June 30, 2019 was $12.6 million. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2019 | |
Derivatives | |
Derivatives | Note 15 Derivatives Risk management objective of using derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company has established policies that neither carrying value nor fair value at risk should exceed established guidelines. The Company has designed strategies to confine these risks within the established limits and identify appropriate trade-offs in the financial structure of its balance sheet. These strategies include the use of derivative financial instruments to help achieve the desired balance sheet repricing structure while meeting the desired objectives of its clients. Currently, the Company employs certain interest rate swaps that are designated as fair value hedges as well as economic hedges. The Company manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. Fair values of derivative instruments on the balance sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated statements of financial condition as of June 30, 2019 and December 31, 2018. Information about the valuation methods used to measure fair value is provided in note 17. Asset derivatives fair value Liability derivatives fair value Balance Sheet June 30, December 31, Balance Sheet June 30, December 31, location 2019 2018 Location 2019 2018 Derivatives designated as hedging instruments: Interest rate products Other assets $ 1,565 $ 17,436 Other liabilities $ 12,833 $ 228 Total derivatives designated as hedging instruments $ 1,565 $ 17,436 $ 12,833 $ 228 Derivatives not designated as hedging instruments: Interest rate products Other assets $ 8,531 $ 3,191 Other liabilities $ 9,242 $ 3,349 Interest rate lock commitments Other assets 1,758 871 Other liabilities 208 72 Forward contracts Other assets 10 — Other liabilities 782 472 Total derivatives not designated as hedging instruments $ 10,299 $ 4,062 $ 10,232 $ 3,893 Fair value hedges Interest rate swaps designated as fair value hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2019, the Company had interest rate swaps with a notional amount of $432.0 million, which were designated as fair value hedges of interest rate risk. As of December 31, 2018, the Company had interest rate swaps with a notional amount of $473.4 million, that were designated as fair value hedges. These interest rate swaps were associated with $434.2 million and $522.7 million of the Company’s fixed-rate loans as of June 30, 2019 and December 31, 2018, respectively, before a $11.9 million and $13.2 million fair value loss hedge adjustment in the carrying amount as of June 30, 2019 and December 31, 2018, respectively. The Company’s fixed rate loans are included in loans receivable on the statements of financial condition. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting loss or gain on the related derivatives. Non-designated hedges Derivatives not designated as hedges are not speculative and consist of interest rate swaps with commercial banking clients that facilitate their respective risk management strategies. Interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the client swaps and the offsetting swaps are recognized directly in earnings. As of June 30, 2019, the Company had matched interest rate swap transactions with an aggregate notional amount of $459.4 million related to this program. As of December 31, 2018, the Company had matched interest rate swap transactions with an aggregate notional amount of $206.8 million related to this program. As part of its mortgage banking activities, the Company enters into interest rate lock commitments, which are commitments to originate loans where the interest rate on the loan is determined prior to funding and the clients have locked into that interest rate. The Company then locks in the loan and interest rate with an investor and commits to deliver the loan if settlement occurs ("best efforts") or commits to deliver the locked loan in a binding ("mandatory") delivery program with an investor. Fair value changes of certain loans under interest rate lock commitments are hedged with forward sales contracts of MBS. Forward sales contracts of MBS are recorded at fair value with changes in fair value recorded in non-interest income. Interest rate lock commitments and commitments to deliver loans to investors are considered derivatives. The market value of interest rate lock commitments and best efforts contracts are not readily ascertainable with precision because they are not actively traded in stand-alone markets. The Company determines the fair value of interest rate lock commitments and delivery contracts by measuring the fair value of the underlying asset, which is impacted by current interest rates, taking into consideration the probability that the interest rate lock commitments will close or will be funded. Certain additional risks arise from these forward delivery contracts in that the counterparties to the contracts may not be able to meet the terms of the contracts. The Company does not expect any counterparty to any MBS contract to fail to meet its obligation. Additional risks inherent in mandatory delivery programs include the risk that, if the Company fails to deliver the loans subject to interest rate risk lock commitments, it will still be obligated to “pair off” MBS to the counterparty. Should this be required, the Company could incur significant costs in acquiring replacement loans and such costs could have an adverse effect on the consolidated financial statements. The fair value of the mortgage banking derivative is recorded as a freestanding asset or liability with the change in value being The Company had interest rate lock commitments with a notional value of $140.1 million and forward contracts with a notional value of $169.2 million at June 30, 2019. At December 31, 2018, the Company had interest rate lock commitments with a notional value of $50.1 million and forward contracts with a notional value of $77.6 million . Effect of derivative instruments on the consolidated statements of operations The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three and six months ended June 30, 2019 and 2018: Location of gain (loss) Amount of gain recognized in income on derivatives Derivatives in fair value recognized in income on For the three months ended June 30, For the six months ended June 30, hedging relationships derivatives 2019 2018 2019 2018 Interest rate products Interest and fees on loans $ (7,514) $ 5,288 $ (17,600) $ 17,340 Total $ (7,514) $ 5,288 $ (17,600) $ 17,340 Location of gain (loss) Amount of loss recognized in income on hedged items recognized in income on For the three months ended June 30, For the six months ended June 30, Hedged items hedged items 2019 2018 2019 2018 Interest rate products Interest and fees on loans $ 4,780 $ (5,347) $ 14,917 $ (17,264) Total $ 4,780 $ (5,347) $ 14,917 $ (17,264) Location of gain (loss) Amount of gain (loss) recognized in income on derivatives Derivatives not designated recognized in income on For the three months ended June 30, For the six months ended June 30, as hedging instruments derivatives 2019 2018 2019 2018 Interest rate products Other non-interest expense $ (290) $ 3 $ (563) $ 124 Interest rate lock commitments Mortgage banking income 616 (517) 1,768 (141) Forward contracts Mortgage banking income (1,502) 305 (2,302) 1,413 Total $ (1,176) $ (209) $ (1,097) $ 1,396 Credit-risk-related contingent features The Company has agreements with its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness for reasons other than an error or omission of an administrative or operational nature, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well/adequately capitalized institution, then the counterparty has the right to terminate the derivative positions and the Company would be required to settle its obligations under the agreements. As of June 30, 2019, the termination value of derivatives in a net liability position related to these agreements was $21.3 million, which includes accrued interest but excludes any adjustment for nonperformance risk. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and, as of June 30, 2019, the Company had posted $24.1 million in eligible collateral. If the Company had breached any of these provisions at June 30, 2019, it could have been required to settle its obligations under the agreements at the termination value. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies | |
Commitments and Contingencies | Note 16 Commitments and Contingencies In the normal course of business, the Company enters into various off-balance sheet commitments to help meet the financing needs of clients. These financial instruments include commitments to extend credit, commercial and consumer lines of credit and standby letters of credit. The same credit policies are applied to these commitments as the loans on the consolidated statements of financial condition; however, these commitments involve varying degrees of credit risk in excess of the amount recognized in the consolidated statements of financial condition. At June 30, 2019 and December 31, 2018, the Company had loan commitments totaling $738.1 million and $773.5 million, respectively, and standby letters of credit that totaled $8.3 million and $10.6 million, respectively. The total amounts of unused commitments do not necessarily represent future credit exposure or cash requirements, as commitments often expire without being drawn upon. However, the contractual amount of these commitments, offset by any additional collateral pledged, represents the Company’s potential credit loss exposure. Total unfunded commitments at June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 December 31, 2018 Commitments to fund loans $ 206,031 $ 183,946 Unfunded commitments under lines of credit 532,107 589,573 Commercial and standby letters of credit 8,260 10,558 Total unfunded commitments $ 746,398 $ 784,077 Commitments to fund loans Unfunded commitments under lines of credit Commercial and standby letters of credit Contingencies Mortgage loans sold to investors may be subject to repurchase or indemnification in the event of specific default by the borrower or subsequent discovery that underwriting standards were not met. The Company has established a reserve liability for expected losses related to these representations and warranties based upon management’s evaluation of actual and historic loss history, delinquency trends in the portfolio and economic conditions. The Company recorded a repurchase reserve of $2.6 million and $4.0 million at June 30, 2019 and 2018, respectively, which is included in other liabilities on the consolidated statements of financial condition. In the ordinary course of business, the Company and the Bank may be subject to litigation. Based upon the available information and advice from the Company’s legal counsel, management does not believe that any potential, threatened or pending litigation to which it is a party will have a material adverse effect on the Company’s liquidity, financial condition or results of operations. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 17 Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to disclose the fair value of its financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For disclosure purposes, the Company groups its financial and non-financial assets and liabilities into three different levels based on the nature of the instrument and the availability and reliability of the information that is used to determine fair value. The three levels are defined as follows: ● Level 1—Includes assets or liabilities in which the valuation methodologies are based on unadjusted quoted prices in active markets for identical assets or liabilities. ● Level 2—Includes assets or liabilities in which the inputs to the valuation methodologies are based on similar assets or liabilities in inactive markets, quoted prices for identical or similar assets or liabilities in inactive markets, and inputs other than quoted prices that are observable, such as interest rates, yield curves, volatilities, prepayment speeds and other inputs obtained from observable market input. ● Level 3—Includes assets or liabilities in which the inputs to the valuation methodology are based on at least one significant assumption that is not observable in the marketplace. These valuations may rely on management’s judgment and may include internally-developed model-based valuation techniques. Level 1 inputs are considered to be the most transparent and reliable and level 3 inputs are considered to be the least transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. While third party price indications may be available in those cases, limited trading activity can challenge the observability of those inputs. Changes in the valuation inputs used for measuring the fair value of financial instruments may occur due to changes in current market conditions or other factors. Such changes may necessitate a transfer of the financial instruments to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfer occurs. During the six months ended June 30, 2019 and 2018, there were no transfers of financial instruments between the hierarchy levels. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of each instrument under the valuation hierarchy: Fair Value of Financial Instruments Measured on a Recurring Basis Investment securities available-for-sale Loans held for sale Interest rate swap derivatives financial institutions ("dealers"). International Swaps and Derivative Association Master Agreements ("ISDA") and Credit Support Annexes ("CSA") are employed for all contracts with dealers. These contracts contain bilateral collateral arrangements. The fair value inputs of these financial instruments are determined using discounted cash flow analysis through the use of third-party models whose significant inputs are readily observable market parameters, primarily yield curves, with appropriate adjustments for liquidity and credit risk, and are classified as level 2. Mortgage banking derivatives valuation model to estimate the fair value of its forward commitments to sell residential mortgage loans (i.e., an estimate of what the Company would receive or pay to terminate the forward delivery contract based on market prices for similar financial instruments), which includes matching specific terms and maturities of the forward commitments against applicable investor pricing. The tables below present the financial instruments measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018 on the consolidated statements of financial condition utilizing the hierarchy structure described above: June 30, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities available-for-sale: Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ 123,769 $ — $ 123,769 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 585,358 — 585,358 Municipal securities — 441 — 441 Loans held for sale — 105,866 — 105,866 Interest rate swap derivatives — 10,096 — 10,096 Mortgage banking derivatives — — 1,768 1,768 Total assets at fair value $ — $ 825,530 $ 1,768 $ 827,298 Liabilities: Interest rate swap derivatives $ — $ 22,075 $ — $ 22,075 Mortgage banking derivatives — — 990 990 Total liabilities at fair value $ — $ 22,075 $ 990 $ 23,065 December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities available-for-sale: Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ 146,642 $ — $ 146,642 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 643,381 — 643,381 Municipal securities — 441 — 441 Loans held for sale — 48,120 — 48,120 Interest rate swap derivatives — 20,627 — 20,627 Mortgage banking derivatives — — 871 871 Total assets at fair value $ — $ 859,211 $ 871 $ 860,082 Liabilities: Interest rate swap derivatives $ — $ 3,577 $ — $ 3,577 Mortgage banking derivatives — — 544 544 Total liabilities at fair value $ — $ 3,577 $ 544 $ 4,121 The table below details the changes in level 3 financial instruments during the six months ended June 30, 2019: Mortgage banking derivatives, net Balance at December 31, 2018 $ 327 Gain included in earnings, net 451 Balance at June 30, 2019 $ 778 Fair Value of Financial Instruments Measured on a Non-recurring Basis Certain assets may be recorded at fair value on a non-recurring basis as conditions warrant. These non-recurring fair value measurements typically result from the application of lower of cost or fair value accounting or a write-down occurring during the period. Impaired loans OREO Mortgage Servicing Rights M rights are stratified into certain risk characteristics including note type and note term. If the valuation model reflects a value less than the carrying value, mortgage servicing rights are adjusted to fair value through a valuation allowance. The Company recognized $277 thousand of mortgage servicing rights impairment during the six months ended June 30, 2019, which is included in mortgage banking income on the consolidated statements of operations. No impairment of mortgage servicing rights was recorded for the six months ended June 30, 2018. The inputs used to determine the fair values of mortgage servicing rights are considered level 3 inputs in the fair value hierarchy. The Company may be required to record fair value adjustments on other available-for-sale and municipal securities valued at par on a non-recurring basis. The table below provides information regarding the assets recorded at fair value on a non-recurring basis during the six months ended June 30, 2019 and 2018: June 30, 2019 Total Losses from fair value changes Impaired loans $ 40,398 $ 508 Other real estate owned 7,054 684 Mortgage servicing rights 2,944 277 Total $ 50,396 $ 1,469 June 30, 2018 Total Losses from fair value changes Impaired loans $ 34,822 $ 1,089 Other real estate owned 35,469 64 Mortgage servicing rights 3,915 — Total $ 74,205 $ 1,153 The Company did not record any liabilities measured at fair value on a non-recurring basis during the six months ended June 30, 2019. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 18 Fair Value of Financial Instruments The fair value of a financial instrument is the amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is determined based upon quoted market prices to the extent possible; however, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques that may be significantly impacted by the assumptions used, including the discount rate and estimates of future cash flows. Changes in any of these assumptions could significantly affect the fair value estimates. The fair value of the financial instruments listed below does not reflect a premium or discount that could result from offering all of the Company’s holdings of financial instruments at one time, nor does it reflect the underlying value of the Company, as ASC Topic 825 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies and are based on the exit price concept within ASC Topic 825 and applied to this disclosure on a prospective basis. Considerable judgment is required to interpret market data in order to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The fair value of financial instruments at June 30, 2019 and December 31, 2018, including methods and assumptions utilized for determining fair value of financial instruments are set forth below: Level in fair value June 30, 2019 December 31, 2018 measurement Carrying Estimated Carrying Estimated hierarchy amount fair value amount fair value ASSETS Cash and cash equivalents Level 1 $ 91,159 $ 91,159 $ 109,556 $ 109,556 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 123,769 123,769 146,642 146,642 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 585,358 585,358 643,381 643,381 Municipal securities Level 2 441 441 441 441 Municipal securities Level 3 169 169 169 169 Other available-for-sale securities Level 3 469 469 469 469 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 136,964 137,541 157,115 154,412 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 69,397 68,861 78,283 76,514 Non-marketable securities Level 2 30,726 30,726 27,555 27,555 Loans receivable Level 3 4,330,263 4,432,831 4,092,308 4,082,146 Loans held for sale Level 2 105,866 105,866 48,120 48,120 Accrued interest receivable Level 2 19,992 19,992 17,852 17,852 Interest rate swap derivatives Level 2 10,096 10,096 20,627 20,627 Mortgage banking derivatives Level 3 1,768 1,768 871 871 LIABILITIES Deposit transaction accounts Level 2 3,606,360 3,606,360 3,445,092 3,445,092 Time deposits Level 2 1,081,637 1,080,162 1,080,529 1,068,233 Securities sold under agreements to repurchase Level 2 60,430 60,430 66,047 66,047 Federal Home Loan Bank advances Level 2 272,414 272,773 301,660 301,933 Accrued interest payable Level 2 8,047 8,047 6,889 6,889 Interest rate swap derivatives Level 2 22,075 22,075 3,577 3,577 Mortgage banking derivatives Level 3 990 990 544 544 |
Acquisition Activities
Acquisition Activities | 6 Months Ended |
Jun. 30, 2019 | |
Acquisition Activities | |
Acquisition Activities | Note 19 Acquisition Activities On January 1, 2018, the Company completed its acquisition of Peoples, Inc., the bank holding company of Colorado-based Peoples National Bank and Kansas-based Peoples Bank. Immediately following the completion of the acquisition, Peoples National Bank and Peoples Bank merged into NBH Bank. Pursuant to the merger agreement executed in June 2017, the Company paid $36.2 million of cash consideration and 3,398,477 shares of the Company’s Class A common stock in exchange for all of the outstanding common stock of Peoples. Included in the cash consideration is $10.0 million of restricted cash placed in escrow for certain potential liabilities the Company is indemnified for pursuant to the merger agreement. The restricted cash is included in other assets in the Company’s consolidated statements of financial condition at June 30, 2019. The transaction was valued at $146.4 million in the aggregate, based on the Company’s closing price of $32.43 on the acquisition date. Acquisition-related costs of $0.4 million and $8.0 million on a pre-tax basis were included in the Company’s consolidated statements of operations for the three and six months ended June 30, 2018. The results of Peoples are included in the results of the Company subsequent to the acquisition date. The Company determined that this acquisition constitutes a business combination as defined in ASC Topic 805, Business Combinations Fair Value Measurements and Disclosures The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the Peoples acquisition: Assets: Cash and due from banks $ 105,173 Investment securities available-for-sale 118,512 Non-marketable securities 4,796 Loans 542,707 Loans held for sale 54,260 Other real estate owned 1,253 Premises and equipment 18,584 Core deposit intangible asset 10,477 Mortgage servicing rights 4,301 Other assets 15,361 Total assets acquired $ 875,424 Liabilities: Total deposits 729,911 FHLB borrowings 33,825 Other liabilities 20,683 Total liabilities assumed $ 784,419 Identifiable net assets acquired $ 91,005 Consideration: NBHC common stock paid at January 1, 2018, closing price of $32.43 $ 110,213 Cash 36,189 Total $ 146,402 Goodwill $ 55,397 In connection with the Peoples acquisition, the Company recorded $55.4 million of goodwill, a $10.5 million core deposit intangible asset, a $4.3 million mortgage servicing rights intangible asset and a $4.0 million mortgage repurchase reserve, included in other liabilities. The core deposit intangible is being amortized straight-line over ten years and the mortgage servicing rights intangible is amortized in proportion to and over the period of the estimated net servicing income. The FHLB borrowings of $33.8 million were paid off during the first quarter of 2018. The goodwill associated with this transaction is not tax deductible. At the date of acquisition, the gross contractual amounts receivable, inclusive of all principal and interest, was $713.6 million. The Company’s best estimate of the contractual principal cash flows for loans not expected to be collected was $2.1 million. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Event | |
Subsequent Event | Note 20 Subsequent Event On August 1, 2019, the Company closed on the sale of one previously acquired OREO property that resulted in a gain of $4.4 million. The OREO property had a net book value of zero on the consolidated statements of financial condition at June 30, 2019. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities | At June 30, 2019 and December 31, 2018, the Company held $710.2 million and $791.1 million of available-for-sale investment securities, respectively. Available-for-sale securities are summarized as follows as of the dates indicated: June 30, 2019 Amortized Gross Gross cost unrealized gains unrealized losses Fair value Mortgage-backed securities (“MBS”): Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 122,265 $ 1,636 $ (132) $ 123,769 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 587,967 4,223 (6,832) 585,358 Municipal securities 619 — (9) 610 Other securities 469 — — 469 Total investment securities available-for-sale $ 711,320 $ 5,859 $ (6,973) $ 710,206 December 31, 2018 Amortized Gross Gross cost unrealized gains unrealized losses Fair value Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 147,283 $ 1,232 $ (1,873) $ 146,642 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 661,354 1,056 (19,029) 643,381 Municipal securities 619 — (9) 610 Other securities 469 — — 469 Total investment securities available-for-sale $ 809,725 $ 2,288 $ (20,911) $ 791,102 |
Summary of unrealized losses for available-for-sale securities | The tables below summarize the available-for-sale securities with unrealized losses as of the dates shown, along with the length of the impairment period: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ — $ 31,277 $ (132) $ 31,277 $ (132) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 4,810 (7) 307,751 (6,825) 312,561 (6,832) Municipal securities — — 441 (9) 441 (9) Total $ 4,810 $ (7) $ 339,469 $ (6,966) $ 344,279 $ (6,973) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 30,853 $ (392) $ 69,169 $ (1,481) $ 100,022 $ (1,873) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 127,767 (1,150) 454,662 (17,879) 582,429 (19,029) Municipal securities 441 (9) — — 441 (9) Total $ 159,061 $ (1,551) $ 523,831 $ (19,360) $ 682,892 $ (20,911) |
Held-to-maturity Securities | June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ — $ 12,116 $ (74) $ 12,116 $ (74) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — — 37,444 (673) 37,444 (673) Total $ — $ — $ 49,560 $ (747) $ 49,560 $ (747) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 26,660 $ (381) $ 126,475 $ (2,324) $ 153,135 $ (2,705) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 35,235 (79) 41,279 (1,690) 76,514 (1,769) Total $ 61,895 $ (460) $ 167,754 $ (4,014) $ 229,649 $ (4,474) |
Summary of unrealized losses for held-to-maturity securities | The tables below summarize the held-to-maturity securities with unrealized losses as of the dates shown, along with the length of the impairment period: June 30, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ — $ 12,116 $ (74) $ 12,116 $ (74) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — — 37,444 (673) 37,444 (673) Total $ — $ — $ 49,560 $ (747) $ 49,560 $ (747) December 31, 2018 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ 26,660 $ (381) $ 126,475 $ (2,324) $ 153,135 $ (2,705) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 35,235 (79) 41,279 (1,690) 76,514 (1,769) Total $ 61,895 $ (460) $ 167,754 $ (4,014) $ 229,649 $ (4,474) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loan Portfolio Composition Including Carrying Value by Segment of Originated and Acquired Loans Accounted for under ASC Topic 310-30 and Loans Covered by the FDIC Loss Sharing Agreements | June 30, 2019 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,863,117 $ 18,247 $ 2,881,364 66.6% Commercial real estate non-owner occupied 584,263 35,585 619,848 14.3% Residential real estate 799,566 6,760 806,326 18.6% Consumer 22,725 — 22,725 0.5% Total $ 4,269,671 $ 60,592 $ 4,330,263 100.0% December 31, 2018 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,624,173 $ 20,398 $ 2,644,571 64.6% Commercial real estate non-owner occupied 551,819 40,393 592,212 14.5% Residential real estate 820,820 9,995 830,815 20.3% Consumer 24,617 93 24,710 0.6% Total $ 4,021,429 $ 70,879 $ 4,092,308 100.0% |
Past Due Financing Receivables | Delinquency for originated and acquired loans is shown in the following tables at June 30, 2019 and December 31, 2018: June 30, 2019 Greater 30-89 days than 90 days Total past past due and past due and Non-accrual due and accruing accruing loans non-accrual Current Total loans Originated and acquired loans: Commercial: Commercial and industrial $ 4,413 $ 34 $ 14,682 $ 19,129 $ 2,105,233 $ 2,124,362 Owner occupied commercial real estate 627 — 7,301 7,928 446,640 454,568 Food and agriculture — — 380 380 240,565 240,945 Energy — — 858 858 42,384 43,242 Total commercial 5,040 34 23,221 28,295 2,834,822 2,863,117 Commercial real estate non-owner occupied: Construction — — 1,208 1,208 90,955 92,163 Acquisition/development 4,725 — 9 4,734 13,242 17,976 Multifamily — — — — 42,166 42,166 Non-owner occupied 33 — 378 411 431,547 431,958 Total commercial real estate 4,758 — 1,595 6,353 577,910 584,263 Residential real estate: Senior lien 667 — 7,782 8,449 693,227 701,676 Junior lien 518 — 1,040 1,558 96,332 97,890 Total residential real estate 1,185 — 8,822 10,007 789,559 799,566 Consumer 84 — 65 149 22,576 22,725 Total originated and acquired loans $ 11,067 $ 34 $ 33,703 $ 44,804 $ 4,224,867 $ 4,269,671 December 31, 2018 Greater 30-89 days than 90 days Total past past due and past due and Non-accrual due and accruing accruing loans non-accrual Current Total loans Originated and acquired loans: Commercial: Commercial and industrial $ 495 $ 74 $ 5,510 $ 6,079 $ 1,925,068 $ 1,931,147 Owner occupied commercial real estate 893 — 6,931 7,824 413,842 421,666 Food and agriculture 141 125 768 1,034 221,122 222,156 Energy — — 742 742 48,462 49,204 Total commercial 1,529 199 13,951 15,679 2,608,494 2,624,173 Commercial real estate non-owner occupied: Construction — — 1,208 1,208 93,646 94,854 Acquisition/development — — 121 121 19,529 19,650 Multifamily — — — — 56,685 56,685 Non-owner occupied 328 132 572 1,032 379,598 380,630 Total commercial real estate 328 132 1,901 2,361 549,458 551,819 Residential real estate: Senior lien 2,106 548 7,790 10,444 712,592 723,036 Junior lien 556 — 772 1,328 96,456 97,784 Total residential real estate 2,662 548 8,562 11,772 809,048 820,820 Consumer 91 16 42 149 24,468 24,617 Total originated and acquired loans $ 4,610 $ 895 $ 24,456 $ 29,961 $ 3,991,468 $ 4,021,429 |
Credit Exposure for Loans as Determined by Company's Internal Risk Rating System | Credit exposure for all loans as determined by the Company’s internal risk rating system was as follows as of June 30, 2019 and December 31, 2018, respectively: June 30, 2019 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 2,080,469 $ 23,621 $ 16,648 $ 3,624 $ 2,124,362 Owner occupied commercial real estate 419,981 21,648 12,779 160 454,568 Food and agriculture 223,810 15,971 1,131 33 240,945 Energy 42,383 — 859 — 43,242 Total commercial 2,766,643 61,240 31,417 3,817 2,863,117 Commercial real estate non-owner occupied: Construction 90,955 — 1,208 — 92,163 Acquisition/development 17,201 725 50 — 17,976 Multifamily 41,660 — 506 — 42,166 Non-owner occupied 415,655 15,231 1,035 37 431,958 Total commercial real estate 565,471 15,956 2,799 37 584,263 Residential real estate: Senior lien 689,558 3,420 8,698 — 701,676 Junior lien 96,327 418 1,145 — 97,890 Total residential real estate 785,885 3,838 9,843 — 799,566 Consumer 22,660 — 65 — 22,725 Total originated and acquired loans $ 4,140,659 $ 81,034 $ 44,124 $ 3,854 $ 4,269,671 Loans accounted for under ASC 310-30: Commercial $ 15,588 $ 525 $ 2,134 $ — $ 18,247 Commercial real estate non-owner occupied 34,664 229 692 — 35,585 Residential real estate 5,036 383 1,341 — 6,760 Consumer — — — — — Total loans accounted for under ASC 310-30 $ 55,288 $ 1,137 $ 4,167 $ — $ 60,592 Total loans $ 4,195,947 $ 82,171 $ 48,291 $ 3,854 $ 4,330,263 December 31, 2018 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,890,710 $ 16,531 $ 22,919 $ 987 $ 1,931,147 Owner occupied commercial real estate 393,404 16,349 11,828 85 421,666 Food and agriculture 220,004 1,260 847 45 222,156 Energy 48,462 — 742 — 49,204 Total commercial 2,552,580 34,140 36,336 1,117 2,624,173 Commercial real estate non-owner occupied: Construction 92,731 915 1,208 — 94,854 Acquisition/development 19,529 — 121 — 19,650 Multifamily 56,685 — — — 56,685 Non-owner occupied 355,776 23,243 1,611 — 380,630 Total commercial real estate 524,721 24,158 2,940 — 551,819 Residential real estate: Senior lien 710,972 3,571 8,493 — 723,036 Junior lien 96,456 415 913 — 97,784 Total residential real estate 807,428 3,986 9,406 — 820,820 Consumer 24,575 — 42 — 24,617 Total originated and acquired loans $ 3,909,304 $ 62,284 $ 48,724 $ 1,117 $ 4,021,429 Loans accounted for under ASC 310-30: Commercial $ 17,579 $ 537 $ 2,282 $ — $ 20,398 Commercial real estate non-owner occupied 39,322 246 825 — 40,393 Residential real estate 7,484 908 1,603 — 9,995 Consumer — — 93 — 93 Total loans accounted for under ASC 310-30 $ 64,385 $ 1,691 $ 4,803 $ — $ 70,879 Total loans $ 3,973,689 $ 63,975 $ 53,527 $ 1,117 $ 4,092,308 |
Schedule Of Impaired Financing Receivable With And Without Related Allowance | Additional information regarding impaired loans at June 30, 2019 and December 31, 2018 is set forth in the table below: June 30, 2019 December 31, 2018 Allowance Allowance Unpaid for loan Unpaid for loan principal Recorded losses principal Recorded losses balance investment allocated balance investment allocated With no related allowance recorded: Commercial: Commercial and industrial $ 4,156 $ 2,721 $ — $ 4,374 $ 3,029 $ — Owner occupied commercial real estate 7,338 6,701 — 7,130 6,609 — Food and agriculture 1,476 1,220 — 1,468 1,260 — Energy 5,483 859 — 5,366 742 — Total commercial 18,453 11,501 — 18,338 11,640 — Commercial real estate non-owner occupied: Construction 1,435 1,208 — 1,435 1,208 — Acquisition/development 38 9 — 378 121 — Multifamily — — — — — — Non-owner occupied 91 28 — 641 547 — Total commercial real estate 1,564 1,245 — 2,454 1,876 — Residential real estate: Senior lien 4,105 3,854 — 4,229 3,814 — Junior lien 361 331 — 409 341 — Total residential real estate 4,466 4,185 — 4,638 4,155 — Consumer 70 65 — 46 42 — Total impaired loans with no related allowance recorded $ 24,553 $ 16,996 $ — $ 25,476 $ 17,713 $ — With a related allowance recorded: Commercial: Commercial and industrial $ 16,758 $ 14,107 $ 3,635 $ 7,252 $ 4,627 $ 996 Owner occupied commercial real estate 1,599 1,388 165 1,362 1,169 90 Food and agriculture 835 821 36 883 845 46 Energy — — — — — — Total commercial 19,192 16,316 3,836 9,497 6,641 1,132 Commercial real estate non-owner occupied: Construction — — — — — — Acquisition/development — — — — — — Multifamily — — — — — — Non-owner occupied 600 541 39 313 254 2 Total commercial real estate 600 541 39 313 254 2 Residential real estate: Senior lien 6,158 5,259 26 6,032 5,178 27 Junior lien 1,419 1,286 8 1,408 1,293 8 Total residential real estate 7,577 6,545 34 7,440 6,471 35 Consumer — — — — — — Total impaired loans with a related allowance recorded $ 27,369 $ 23,402 $ 3,909 $ 17,250 $ 13,366 $ 1,169 Total impaired loans $ 51,922 $ 40,398 $ 3,909 $ 42,726 $ 31,079 $ 1,169 |
Schedule of Impaired Financing Receivable, Average Recorded Investment and Interest Income Recognized | The table below shows additional information regarding the average recorded investment and interest income recognized on impaired loans for the periods presented: For the three months ended June 30, 2019 June 30, 2018 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 2,755 $ 44 $ 5,321 $ 90 Owner occupied commercial real estate 6,719 5 6,723 17 Food and agriculture 1,221 — 1,259 — Energy 831 — 1,843 17 Total commercial 11,526 49 15,147 124 Commercial real estate non-owner occupied: Construction 1,208 — 1,081 — Acquisition/development 9 — 827 — Multifamily — — — — Non-owner occupied 29 — 574 — Total commercial real estate 1,246 — 2,481 — Residential real estate: Senior lien 3,869 — 2,818 — Junior lien 334 — 354 — Total residential real estate 4,203 — 3,172 — Consumer 11 — 14 — Total impaired loans with no related allowance recorded $ 16,986 $ 49 $ 20,815 $ 124 With a related allowance recorded: Commercial: Commercial and industrial $ 14,161 $ — $ 4,607 $ — Owner occupied commercial real estate 1,397 6 1,233 4 Food and agriculture 844 3 2,142 1 Energy — — — — Total commercial 16,402 9 7,982 5 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily — — 9 — Non-owner occupied 548 4 297 5 Total commercial real estate 548 4 306 5 Residential real estate: Senior lien 5,298 16 5,744 13 Junior lien 1,297 10 1,187 11 Total residential real estate 6,595 26 6,931 23 Consumer 56 — 31 — Total impaired loans with a related allowance recorded $ 23,601 $ 39 $ 15,250 $ 33 Total impaired loans $ 40,587 $ 88 $ 36,065 $ 158 For the six months ended June 30, 2019 June 30, 2018 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 2,805 $ 88 $ 5,565 $ 173 Owner occupied commercial real estate 6,761 14 6,793 35 Food and agriculture 1,412 — 1,259 6 Energy 804 — 2,098 37 Total Commercial 11,782 102 15,715 251 Commercial real estate non-owner occupied: Construction 1,208 — 1,081 — Acquisition/development 10 — 856 — Multifamily — — — — Non-owner occupied 30 — 591 — Total commercial real estate 1,248 — 2,528 — Residential real estate: Senior lien 3,892 — 2,846 — Junior lien 339 1 358 — Total residential real estate 4,231 1 3,204 — Consumer 11 — 14 — Total impaired loans with no related allowance recorded $ 17,272 $ 103 $ 21,461 $ 251 With a related allowance recorded: Commercial: Commercial and industrial $ 14,319 $ — $ 4,639 $ — Owner occupied commercial real estate 1,411 12 1,249 9 Food and agriculture 845 4 2,084 2 Energy — — — — Total Commercial 16,575 16 7,972 11 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily — — 19 — Non-owner occupied 557 9 308 9 Total commercial real estate 557 9 327 9 Residential real estate: Senior lien 5,375 29 5,821 26 Junior lien 1,311 21 1,202 20 Total residential real estate 6,686 50 7,023 46 Consumer 58 — 32 — Total impaired loans with a related allowance recorded $ 23,876 $ 75 $ 15,354 $ 66 Total impaired loans $ 41,148 $ 178 $ 36,815 $ 317 |
Additional Information Related to Accruing TDR's | June 30, 2019 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 1,181 $ 1,192 $ 1,301 $ 151 Commercial real estate non-owner occupied 177 191 222 — Residential real estate 1,276 1,299 1,315 12 Consumer — — — — Total $ 2,634 $ 2,682 $ 2,838 $ 163 December 31, 2018 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 2,730 $ 2,827 $ 3,155 $ — Commercial real estate non-owner occupied 229 260 280 — Residential real estate 1,114 1,163 1,121 12 Consumer — — — — Total $ 4,073 $ 4,250 $ 4,556 $ 12 |
Summary of Company's Carrying Value of Non-Accrual TDR's | The following table summarizes the Company’s carrying value of non-accrual TDRs as of June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Commercial $ 4,682 $ 1,854 Commercial real estate non-owner occupied — — Residential real estate 1,748 1,584 Consumer — — Total non-accruing TDRs $ 6,430 $ 3,438 |
Re-Measurement of Loans Accounted for Under ASC Topic 310-30 Resulting in Changes in Carrying Amount of Accretable Yield | June 30, 2019 June 30, 2018 Accretable yield beginning balance $ 35,901 $ 46,568 Reclassification from non-accretable difference 2,869 8,053 Reclassification to non-accretable difference (731) (1,695) Accretion (6,981) (10,224) Accretable yield ending balance $ 31,058 $ 42,702 |
Composition of Net Book Value for Loans Accounted for under ASC Topic 310-30 | Below is the composition of the net book value for loans accounted for under ASC 310-30 at June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Contractual cash flows $ 403,727 $ 420,994 Non-accretable difference (312,077) (314,214) Accretable yield (31,058) (35,901) Loans accounted for under ASC 310-30 $ 60,592 $ 70,879 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Summary of Company's Allowance for Loan Losses ("ALL") and Recorded Investment in Loans | The tables below detail the Company’s allowance for loan losses and recorded investment in loans as of and for the three and six months ended June 30, 2019 and 2018: Three months ended June 30, 2019 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 28,075 $ 4,914 $ 3,718 $ 348 $ 37,055 Originated and acquired beginning balance 27,894 4,914 3,684 348 36,840 Charge-offs (70) — (24) (200) (294) Recoveries 3 — 16 63 82 Provision 2,815 153 165 130 3,263 Originated and acquired ending balance 30,642 5,067 3,841 341 39,891 ASC 310-30 beginning balance 181 — 34 — 215 Charge-offs — — — — — Recoveries — — — — — Recoupment — — (24) — (24) ASC 310-30 ending balance 181 — 10 — 191 Ending balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Three months ended June 30, 2018 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 21,578 $ 4,890 $ 3,928 $ 290 $ 30,686 Originated and acquired beginning balance 21,485 4,871 3,928 290 30,574 Charge-offs — (11) (90) (234) (335) Recoveries 13 — 4 50 67 Provision 1,902 (318) (61) 200 1,723 Originated and acquired ending balance 23,400 4,542 3,781 306 32,029 ASC 310-30 beginning balance 93 19 — — 112 Charge-offs (61) — — — (61) Recoveries — — — — — Provision 150 — — — 150 ASC 310-30 ending balance 182 19 — — 201 Ending balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Six months ended June 30, 2019 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 27,137 $ 4,406 $ 3,800 $ 349 $ 35,692 Originated and acquired beginning balance 26,946 4,406 3,760 349 35,461 Charge-offs (82) — (47) (433) (562) Recoveries 30 11 29 109 179 Provision 3,748 650 99 316 4,813 Originated and acquired ending balance 30,642 5,067 3,841 341 39,891 ASC 310-30 beginning balance 191 — 40 — 231 Charge-offs — — — — — Recoveries — — — — — Recoupment (10) — (30) — (40) ASC 310-30 ending balance 181 — 10 — 191 Ending balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 3,836 $ 39 $ 34 $ — $ 3,909 Originated and acquired loans collectively evaluated for impairment 26,806 5,028 3,807 341 35,982 ASC 310-30 loans 181 — 10 — 191 Total ending allowance balance $ 30,823 $ 5,067 $ 3,851 $ 341 $ 40,082 Loans: Originated and acquired loans individually evaluated for impairment $ 27,818 $ 1,786 $ 10,729 $ 1,600 $ 41,933 Originated and acquired loans collectively evaluated for impairment 2,835,299 582,477 788,837 21,125 4,227,738 ASC 310-30 loans 18,247 35,585 6,760 — 60,592 Total loans $ 2,881,364 $ 619,848 $ 806,326 $ 22,725 $ 4,330,263 Six months ended June 30, 2018 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 21,385 $ 5,609 $ 3,965 $ 305 $ 31,264 Originated and acquired beginning balance 21,340 5,583 3,965 305 31,193 Charge-offs (437) (11) (90) (513) (1,051) Recoveries 55 — 6 103 164 Provision 2,442 (1,030) (100) 411 1,723 Originated and acquired ending balance 23,400 4,542 3,781 306 32,029 ASC 310-30 beginning balance 45 26 — — 71 Charge-offs (61) — — — (61) Recoveries — — — — — Provision (recoupment) 198 (7) — — 191 ASC 310-30 ending balance 182 19 — — 201 Ending balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 1,204 $ 2 $ 32 $ 1 $ 1,239 Originated and acquired loans collectively evaluated for impairment 22,196 4,540 3,749 305 30,790 ASC 310-30 loans 182 19 — — 201 Total ending allowance balance $ 23,582 $ 4,561 $ 3,781 $ 306 $ 32,230 Loans: Originated and acquired loans individually evaluated for impairment $ 22,038 $ 2,767 $ 9,974 $ 43 $ 34,822 Originated and acquired loans collectively evaluated for impairment 2,273,002 591,974 816,696 26,107 3,707,779 ASC 310-30 loans 23,078 48,411 11,365 100 82,954 Total loans $ 2,318,118 $ 643,152 $ 838,035 $ 26,250 $ 3,825,555 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases | |
Summary of future minimum lease payments | Amount For the six months ending December 31, 2019 $ 2,838 For the year ending December 31, 2020 5,172 For the year ending December 31, 2021 4,843 For the year ending December 31, 2022 4,324 For the year ending December 31, 2023 3,921 Thereafter 16,570 Total lease payments 37,668 Less: Imputed interest 9,608 Present value of operating lease liabilities $ 28,060 |
Summary of Future Minimum Lease Payments | Years ending December 31, Amount 2019 $ 3,092 2020 2,981 2021 3,091 2022 3,052 2023 2,047 Thereafter 10,163 Total $ 24,426 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other Real Estate Owned | |
Summary of Activity in OREO Balances | A summary of the activity in the OREO balances during the six months ended June 30, 2019 and 2018 is as follows: For the six months ended June 30, 2019 2018 Beginning balance $ 10,596 $ 10,491 Acquired through acquisition — 1,253 Transfers from loan portfolio, at fair value 288 24,382 Impairments (684) (64) Sales (3,146) (593) Ending balance $ 7,054 $ 35,469 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Summary of gross carrying amount of intangible assets and the associated accumulated amortization | June 30, 2019 December 31, 2018 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount Core deposit intangible $ 48,834 $ 39,511 $ 9,323 $ 48,834 $ 38,920 $ 9,914 |
Summary of changes in the mortgage servicing rights | For the six months ended June 30, 2019 2018 Beginning balance $ 3,556 $ — Acquired through acquisition — 4,301 Originations 18 — Impairment (277) — Amortization (353) (386) Ending balance $ 2,944 $ 3,915 Fair value of mortgage servicing rights $ 2,945 $ 4,473 |
Core Deposits | |
Summary of estimated future amortization expense for the next five fiscal years | The following table shows the estimated future amortization expense for the core deposit intangibles as of June 30, 2019: Amount For the six months ending December 31, 2019 $ 592 For the year ending December 31, 2020 1,183 For the year ending December 31, 2021 1,183 For the year ending December 31, 2022 1,127 For the year ending December 31, 2023 1,048 |
Mortgage servicing rights | |
Summary of estimated future amortization expense for the next five fiscal years | The following table shows the estimated future amortization expense for the mortgage servicing rights as of June 30, 2019: Amount For the six months ending December 31, 2019 $ 300 For the year ending December 31, 2020 539 For the year ending December 31, 2021 429 For the year ending December 31, 2022 342 For the year ending December 31, 2023 272 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Regulatory Capital | |
Capital Ratio Requirements under Prompt Corrective Action or Other Regulatory Requirements | June 30, 2019 Required to be Required to be well capitalized under considered prompt corrective adequately Actual action provisions capitalized Ratio Amount Ratio Amount Ratio Amount Tier 1 leverage ratio: Consolidated 10.6% $ 607,352 N/A N/A 4.0% $ 229,151 NBH Bank 8.8% 502,988 5.0% $ 286,051 4.0% 228,841 Common equity tier 1 risk-based capital: Consolidated 12.9% $ 607,352 N/A N/A 7.0% $ 401,014 NBH Bank 10.7% 502,988 6.5% $ 371,866 7.0% 400,471 Tier 1 risk-based capital ratio: Consolidated 12.9% $ 607,352 N/A N/A 8.5% $ 401,082 NBH Bank 10.7% 502,988 8.0% $ 376,917 8.5% 400,474 Total risk-based capital ratio: Consolidated 13.8% $ 650,389 N/A N/A 10.5% $ 495,455 NBH Bank 11.6% 546,025 10.0% $ 471,146 10.5% 494,703 December 31, 2018 Required to be Required to be well capitalized under considered prompt corrective adequately Actual action provisions capitalized (1) Ratio Amount Ratio Amount Ratio Amount Tier 1 leverage ratio: Consolidated 10.5% $ 580,504 N/A N/A 4.0% $ 220,988 NBH Bank 9.0% 498,283 5.0% $ 275,703 4.0% 220,563 Common equity tier 1 risk-based capital: Consolidated 12.9% $ 580,504 N/A N/A 7.0% $ 386,728 NBH Bank 11.1% 498,283 6.5% $ 358,414 7.0% 385,984 Tier 1 risk-based capital ratio: Consolidated 12.9% $ 580,504 N/A N/A 8.5% $ 382,306 NBH Bank 11.1% 498,283 8.0% $ 358,938 8.5% 381,372 Total risk-based capital ratio: Consolidated 13.8% $ 620,275 N/A N/A 10.5% $ 472,261 NBH Bank 12.0% 538,054 10.0% $ 448,672 10.5% 471,106 (1) As of the fully phased-in date of January 1, 2019, including the capital conservation buffer. |
Revenue from Contracts with C_2
Revenue from Contracts with Clients (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contracts with Clients | |
Summary of non-interest income segregated by revenue streams | The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, and non-interest expense in-scope of Topic 606 for the three and six months ended June 30, 2019 and 2018. For the three months ended June 30, For the six months ended June 30, 2019 2018 2019 2018 Non-interest income In-scope of Topic 606: Service Charges and other fees $ 4,868 $ 5,008 $ 9,710 $ 10,183 Bank card fees 3,766 3,672 7,194 7,034 Non-interest income (in-scope of Topic 606) 8,634 8,680 16,904 17,217 Non-interest income (out-of-scope of Topic 606) 12,026 10,882 20,807 20,181 Total non-interest income $ 20,660 $ 19,562 $ 37,711 $ 37,398 Non-interest expense In-scope of Topic 606: (Gain) loss on OREO sales, net (318) (14) (686) 64 Total revenue in-scope of Topic 606 $ 8,316 $ 8,666 $ 16,218 $ 17,281 |
Stock-based Compensation and _2
Stock-based Compensation and Benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Stock-based Compensation and Benefits | |
Summary of outstanding stock options | The following table summarizes stock option activity for the six months ended June 30, 2019: Weighted average Weighted remaining average contractual Aggregate exercise term in intrinsic Options price years value Outstanding at December 31, 2018 1,264,876 $ 22.33 3.92 $ 11,387 Granted 146,609 34.19 Exercised (685,198) 20.11 Forfeited (42,903) 30.94 Outstanding at June 30, 2019 683,384 $ 26.56 6.76 $ 6,671 Options exercisable at June 30, 2019 423,632 22.15 5.27 5,997 Options vested and expected to vest 645,766 26.13 6.61 6,578 |
Summary of Restricted Stock Activity | The following table summarizes restricted stock and performance stock unit activity during the six months ended June 30, 2019: Weighted Weighted Restricted average grant- Performance average grant- stock shares date fair value stock units date fair value Unvested at December 31, 2018 146,494 $ 28.19 192,049 $ 26.40 Granted 84,008 35.05 60,781 30.85 Net adjustment due to performance — — 22,246 17.36 Vested (73,879) 23.46 (95,308) 18.02 Forfeited (18,108) 31.88 (19,401) 31.54 Unvested at June 30, 2019 138,515 $ 34.39 160,367 $ 31.19 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share | |
Schedule of Computation of Basic and Diluted Income (Loss) Per Share | The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2019 and 2018: For the three months ended For the six months ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Net income $ 20,282 $ 17,512 $ 39,204 $ 25,977 Less: income allocated to participating securities (26) (18) (44) (31) Income allocated to common shareholders $ 20,256 $ 17,494 $ 39,160 $ 25,946 Weighted average shares outstanding for basic earnings per common share 31,155,264 30,735,427 31,058,761 30,615,226 Dilutive effect of equity awards 449,394 651,748 499,854 660,133 Weighted average shares outstanding for diluted earnings per common share 31,604,658 31,387,175 31,558,615 31,275,359 Basic earnings per share $ 0.65 $ 0.57 $ 1.26 $ 0.85 Diluted earnings per share $ 0.64 $ 0.56 $ 1.24 $ 0.83 |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivatives | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | Asset derivatives fair value Liability derivatives fair value Balance Sheet June 30, December 31, Balance Sheet June 30, December 31, location 2019 2018 Location 2019 2018 Derivatives designated as hedging instruments: Interest rate products Other assets $ 1,565 $ 17,436 Other liabilities $ 12,833 $ 228 Total derivatives designated as hedging instruments $ 1,565 $ 17,436 $ 12,833 $ 228 Derivatives not designated as hedging instruments: Interest rate products Other assets $ 8,531 $ 3,191 Other liabilities $ 9,242 $ 3,349 Interest rate lock commitments Other assets 1,758 871 Other liabilities 208 72 Forward contracts Other assets 10 — Other liabilities 782 472 Total derivatives not designated as hedging instruments $ 10,299 $ 4,062 $ 10,232 $ 3,893 |
Derivative Instruments, Gain (Loss) | The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the three and six months ended June 30, 2019 and 2018: Location of gain (loss) Amount of gain recognized in income on derivatives Derivatives in fair value recognized in income on For the three months ended June 30, For the six months ended June 30, hedging relationships derivatives 2019 2018 2019 2018 Interest rate products Interest and fees on loans $ (7,514) $ 5,288 $ (17,600) $ 17,340 Total $ (7,514) $ 5,288 $ (17,600) $ 17,340 Location of gain (loss) Amount of loss recognized in income on hedged items recognized in income on For the three months ended June 30, For the six months ended June 30, Hedged items hedged items 2019 2018 2019 2018 Interest rate products Interest and fees on loans $ 4,780 $ (5,347) $ 14,917 $ (17,264) Total $ 4,780 $ (5,347) $ 14,917 $ (17,264) Location of gain (loss) Amount of gain (loss) recognized in income on derivatives Derivatives not designated recognized in income on For the three months ended June 30, For the six months ended June 30, as hedging instruments derivatives 2019 2018 2019 2018 Interest rate products Other non-interest expense $ (290) $ 3 $ (563) $ 124 Interest rate lock commitments Mortgage banking income 616 (517) 1,768 (141) Forward contracts Mortgage banking income (1,502) 305 (2,302) 1,413 Total $ (1,176) $ (209) $ (1,097) $ 1,396 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies | |
Schedule of Total Unfunded Commitments | June 30, 2019 December 31, 2018 Commitments to fund loans $ 206,031 $ 183,946 Unfunded commitments under lines of credit 532,107 589,573 Commercial and standby letters of credit 8,260 10,558 Total unfunded commitments $ 746,398 $ 784,077 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Tables of Financial Instruments Measured At Fair Value on Recurring Basis | The tables below present the financial instruments measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018 on the consolidated statements of financial condition utilizing the hierarchy structure described above: June 30, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities available-for-sale: Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ 123,769 $ — $ 123,769 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 585,358 — 585,358 Municipal securities — 441 — 441 Loans held for sale — 105,866 — 105,866 Interest rate swap derivatives — 10,096 — 10,096 Mortgage banking derivatives — — 1,768 1,768 Total assets at fair value $ — $ 825,530 $ 1,768 $ 827,298 Liabilities: Interest rate swap derivatives $ — $ 22,075 $ — $ 22,075 Mortgage banking derivatives — — 990 990 Total liabilities at fair value $ — $ 22,075 $ 990 $ 23,065 December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities available-for-sale: Mortgage-backed securities: Residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises $ — $ 146,642 $ — $ 146,642 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 643,381 — 643,381 Municipal securities — 441 — 441 Loans held for sale — 48,120 — 48,120 Interest rate swap derivatives — 20,627 — 20,627 Mortgage banking derivatives — — 871 871 Total assets at fair value $ — $ 859,211 $ 871 $ 860,082 Liabilities: Interest rate swap derivatives $ — $ 3,577 $ — $ 3,577 Mortgage banking derivatives — — 544 544 Total liabilities at fair value $ — $ 3,577 $ 544 $ 4,121 |
Table of Changes in Level 3 Financial Instruments | The table below details the changes in level 3 financial instruments during the six months ended June 30, 2019: Mortgage banking derivatives, net Balance at December 31, 2018 $ 327 Gain included in earnings, net 451 Balance at June 30, 2019 $ 778 |
Table of assets recorded at fair value on a non-recurring basis | The table below provides information regarding the assets recorded at fair value on a non-recurring basis during the six months ended June 30, 2019 and 2018: June 30, 2019 Total Losses from fair value changes Impaired loans $ 40,398 $ 508 Other real estate owned 7,054 684 Mortgage servicing rights 2,944 277 Total $ 50,396 $ 1,469 June 30, 2018 Total Losses from fair value changes Impaired loans $ 34,822 $ 1,089 Other real estate owned 35,469 64 Mortgage servicing rights 3,915 — Total $ 74,205 $ 1,153 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | The fair value of financial instruments at June 30, 2019 and December 31, 2018, including methods and assumptions utilized for determining fair value of financial instruments are set forth below: Level in fair value June 30, 2019 December 31, 2018 measurement Carrying Estimated Carrying Estimated hierarchy amount fair value amount fair value ASSETS Cash and cash equivalents Level 1 $ 91,159 $ 91,159 $ 109,556 $ 109,556 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 123,769 123,769 146,642 146,642 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 585,358 585,358 643,381 643,381 Municipal securities Level 2 441 441 441 441 Municipal securities Level 3 169 169 169 169 Other available-for-sale securities Level 3 469 469 469 469 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 136,964 137,541 157,115 154,412 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 69,397 68,861 78,283 76,514 Non-marketable securities Level 2 30,726 30,726 27,555 27,555 Loans receivable Level 3 4,330,263 4,432,831 4,092,308 4,082,146 Loans held for sale Level 2 105,866 105,866 48,120 48,120 Accrued interest receivable Level 2 19,992 19,992 17,852 17,852 Interest rate swap derivatives Level 2 10,096 10,096 20,627 20,627 Mortgage banking derivatives Level 3 1,768 1,768 871 871 LIABILITIES Deposit transaction accounts Level 2 3,606,360 3,606,360 3,445,092 3,445,092 Time deposits Level 2 1,081,637 1,080,162 1,080,529 1,068,233 Securities sold under agreements to repurchase Level 2 60,430 60,430 66,047 66,047 Federal Home Loan Bank advances Level 2 272,414 272,773 301,660 301,933 Accrued interest payable Level 2 8,047 8,047 6,889 6,889 Interest rate swap derivatives Level 2 22,075 22,075 3,577 3,577 Mortgage banking derivatives Level 3 990 990 544 544 |
Acquisition Activities (Tables)
Acquisition Activities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Acquisition Activities | |
Net Assets acquired (at fair value) and consideration transferred | Assets: Cash and due from banks $ 105,173 Investment securities available-for-sale 118,512 Non-marketable securities 4,796 Loans 542,707 Loans held for sale 54,260 Other real estate owned 1,253 Premises and equipment 18,584 Core deposit intangible asset 10,477 Mortgage servicing rights 4,301 Other assets 15,361 Total assets acquired $ 875,424 Liabilities: Total deposits 729,911 FHLB borrowings 33,825 Other liabilities 20,683 Total liabilities assumed $ 784,419 Identifiable net assets acquired $ 91,005 Consideration: NBHC common stock paid at January 1, 2018, closing price of $32.43 $ 110,213 Cash 36,189 Total $ 146,402 Goodwill $ 55,397 |
Basis of Presentation (Details)
Basis of Presentation (Details) | 6 Months Ended |
Jun. 30, 2019item | |
Basis of Presentation | |
Number of full service banking offices | 105 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Jun. 30, 2019 | Jun. 30, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Cumulative effect adjustment | $ 256 | $ 26 | |
ASU 2016-02 and ASU 2018-11 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Lease right-of-use assets | $ 30,500 | ||
Lease liabilities | 30,500 | ||
Cumulative effect adjustment | $ 300 | ||
Retained earnings [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Reclassification of certain tax effects from accumulated other comprehensive income | 1,479 | ||
Cumulative effect adjustment | $ 256 | $ 26 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Thousands | Jun. 30, 2019USD ($)security | Dec. 31, 2018USD ($)security |
Investment securities total | $ 900,000 | $ 1,000,000 |
Amortized cost | 711,320 | 809,725 |
Available-for-sale securities | 710,206 | 791,102 |
Held-to-maturity securities | $ 206,361 | $ 235,398 |
Number of securities | security | 85 | 211 |
Fair value of available-for-sale securities in an unrealized loss position | $ 344,279 | $ 682,892 |
Mortgage-backed securities as percentage of available-for-sale investment portfolio | 100.00% | 100.00% |
Fair value of available-for-sale investment securities pledged as collateral | $ 353,100 | $ 318,100 |
Type of available-for-sale investment securities collateral | us-gaap:AssetPledgedAsCollateralMember | us-gaap:AssetPledgedAsCollateralMember |
Number of held-to-maturity securities in unrealized loss positions | security | 13 | 49 |
Fair value of held-to-maturity securities in an unrealized loss position | $ 49,560 | $ 229,649 |
Held-to-maturity investment securities pledged as collateral | $ 177,100 | $ 133,100 |
Type of held-to-maturity investment securities collateral | us-gaap:AssetPledgedAsCollateralMember | us-gaap:AssetPledgedAsCollateralMember |
Municipal securities maturing within one to five years [Member] | ||
Amortized cost | $ 200 | |
Available-for-sale securities | 200 | |
Municipal securities due within five to ten years [Member] | ||
Amortized cost | 400 | |
Available-for-sale securities | 400 | |
Other Securities Investments with No Contractual Maturity [Member] | ||
Amortized cost | 500 | |
Other Securities [Member] | ||
Amortized cost | 469 | $ 469 |
Available-for-sale securities | $ 469 | $ 469 |
Investment Securities - Summary
Investment Securities - Summary of Available-for-Sale Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 711,320 | $ 809,725 |
Gross unrealized gains | 5,859 | 2,288 |
Gross unrealized losses | (6,973) | (20,911) |
Investment securities available-for-sale (at fair value) | 710,206 | 791,102 |
Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 122,265 | 147,283 |
Gross unrealized gains | 1,636 | 1,232 |
Gross unrealized losses | (132) | (1,873) |
Investment securities available-for-sale (at fair value) | 123,769 | 146,642 |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 587,967 | 661,354 |
Gross unrealized gains | 4,223 | 1,056 |
Gross unrealized losses | (6,832) | (19,029) |
Investment securities available-for-sale (at fair value) | 585,358 | 643,381 |
Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 619 | 619 |
Gross unrealized losses | (9) | (9) |
Investment securities available-for-sale (at fair value) | 610 | 610 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 469 | 469 |
Investment securities available-for-sale (at fair value) | $ 469 | $ 469 |
Investment Securities - Summa_2
Investment Securities - Summary of Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | $ 4,810 | $ 159,061 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7) | (1,551) |
12 months or more, Fair Value | 339,469 | 523,831 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (6,966) | (19,360) |
Total, Fair Value | 344,279 | 682,892 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (6,973) | (20,911) |
Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 30,853 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (392) | |
12 months or more, Fair Value | 31,277 | 69,169 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (132) | (1,481) |
Total, Fair Value | 31,277 | 100,022 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (132) | (1,873) |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 4,810 | 127,767 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7) | (1,150) |
12 months or more, Fair Value | 307,751 | 454,662 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (6,825) | (17,879) |
Total, Fair Value | 312,561 | 582,429 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (6,832) | (19,029) |
Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 441 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (9) | |
12 months or more, Fair Value | 441 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (9) | |
Total, Fair Value | 441 | 441 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (9) | $ (9) |
Investment Securities - Summa_3
Investment Securities - Summary of Held-to-maturity Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 206,361 | $ 235,398 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 788 | 2 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (747) | (4,474) |
Fair value | 206,402 | 230,926 |
Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 136,964 | 157,115 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 651 | 2 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (74) | (2,705) |
Fair value | 137,541 | 154,412 |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 69,397 | 78,283 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 137 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (673) | (1,769) |
Fair value | $ 68,861 | $ 76,514 |
Investment Securities - Summa_4
Investment Securities - Summary of Held-to-Maturity Securities, Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 61,895 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (460) | |
Fair Value, 12 months or more | $ 49,560 | 167,754 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (747) | (4,014) |
Total Fair Value | 49,560 | 229,649 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (747) | (4,474) |
Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 months | 26,660 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (381) | |
Fair Value, 12 months or more | 12,116 | 126,475 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (74) | (2,324) |
Total Fair Value | 12,116 | 153,135 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (74) | (2,705) |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 months | 35,235 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (79) | |
Fair Value, 12 months or more | 37,444 | 41,279 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (673) | (1,690) |
Total Fair Value | 37,444 | 76,514 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (673) | $ (1,769) |
Loans - Narrative Section (Deta
Loans - Narrative Section (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Debt Instrument [Line Items] | |||
Fees and cost related to loans | $ 9,200 | $ 10,200 | |
Carrying amount of loan investments | 4,330,263 | 4,092,308 | $ 3,825,555 |
Loans Pledged as Collateral | 1,600,000 | 1,600,000 | |
Non Accrual [Member] | |||
Debt Instrument [Line Items] | |||
Recorded investment, non-accrual status | 33,700 | ||
Increase (decrease) in non-accrual loans | $ 9,200 | ||
Percentage increase (decrease) in past due loans | 37.80% | ||
ASC 310-30 [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | $ 60,592 | $ 82,954 | |
Total Loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 4,330,263 | 4,092,308 | |
Total Loans [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 2,881,364 | 2,644,571 | |
Total Loans [Member] | Originated and acquired loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 4,269,671 | 4,021,429 | |
Recorded investment, non-accrual status | 33,703 | 24,456 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 2,124,362 | 1,931,147 | |
Recorded investment, non-accrual status | 14,682 | 5,510 | |
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 43,242 | 49,204 | |
Recorded investment, non-accrual status | 858 | 742 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 2,863,117 | 2,624,173 | |
Recorded investment, non-accrual status | 23,221 | 13,951 | |
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 454,568 | 421,666 | |
Recorded investment, non-accrual status | 7,301 | 6,931 | |
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 431,958 | 380,630 | |
Recorded investment, non-accrual status | 378 | 572 | |
Total Loans [Member] | ASC 310-30 [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 60,592 | 70,879 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 18,247 | 20,398 | |
Total Loans [Member] | Substandard [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 48,291 | 53,527 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 44,124 | 48,724 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 16,648 | 22,919 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 859 | 742 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 31,417 | 36,336 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 12,779 | 11,828 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 1,035 | 1,611 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 4,167 | 4,803 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 2,134 | 2,282 | |
Total Loans [Member] | Special Mention [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 82,171 | 63,975 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 81,034 | 62,284 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 23,621 | 16,531 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 61,240 | 34,140 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 21,648 | 16,349 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 15,231 | 23,243 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 1,137 | 1,691 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 525 | 537 | |
Total Loans [Member] | Doubtful [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 3,854 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 3,854 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 3,624 | 987 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 3,817 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 160 | $ 85 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | $ 37 |
Loans - Impaired Loans Narrativ
Loans - Impaired Loans Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | $ 4,330,263 | $ 4,092,308 | $ 3,825,555 |
Recorded investment of impaired loans | 40,398 | 31,079 | |
Collective related allowance for loan losses for impaired loans | $ 3,909 | $ 1,169 |
Loans - Loan Portfolio Composit
Loans - Loan Portfolio Composition Including Carrying Value by Segment of Loans Accounted for under ASC Topic 310-30 (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Loans [Line Items] | |||
Total Loans | $ 4,330,263 | $ 4,092,308 | $ 3,825,555 |
% of Total | 100.00% | 100.00% | |
Commercial Loan [Member] | |||
Loans [Line Items] | |||
% of Total | 66.60% | 64.60% | |
Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
% of Total | 14.30% | 14.50% | |
Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
% of Total | 18.60% | 20.30% | |
Consumer [Member] | |||
Loans [Line Items] | |||
% of Total | 0.50% | 0.60% | |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 60,592 | $ 82,954 |
Loans - Loan Delinquency (Detai
Loans - Loan Delinquency (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Loans [Line Items] | |||
Total loans | $ 4,330,263 | $ 4,092,308 | $ 3,825,555 |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total loans | 60,592 | $ 82,954 | |
Total Loans [Member] | |||
Loans [Line Items] | |||
Total loans | 4,330,263 | 4,092,308 | |
Total Loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 2,881,364 | 2,644,571 | |
Total Loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 619,848 | 592,212 | |
Total Loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 806,326 | 830,815 | |
Total Loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 22,725 | 24,710 | |
Total Loans [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Non- accrual | 33,703 | 24,456 | |
Total past due and non-accrual | 44,804 | 29,961 | |
Current | 4,224,867 | 3,991,468 | |
Total loans | 4,269,671 | 4,021,429 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Non- accrual | 1,208 | 1,208 | |
Total past due and non-accrual | 1,208 | 1,208 | |
Current | 90,955 | 93,646 | |
Total loans | 92,163 | 94,854 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Non- accrual | 9 | 121 | |
Total past due and non-accrual | 4,734 | 121 | |
Current | 13,242 | 19,529 | |
Total loans | 17,976 | 19,650 | |
Total Loans [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Current | 42,166 | 56,685 | |
Total loans | 42,166 | 56,685 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Non- accrual | 14,682 | 5,510 | |
Total past due and non-accrual | 19,129 | 6,079 | |
Current | 2,105,233 | 1,925,068 | |
Total loans | 2,124,362 | 1,931,147 | |
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Non- accrual | 7,301 | 6,931 | |
Total past due and non-accrual | 7,928 | 7,824 | |
Current | 446,640 | 413,842 | |
Total loans | 454,568 | 421,666 | |
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Non- accrual | 378 | 572 | |
Total past due and non-accrual | 411 | 1,032 | |
Current | 431,547 | 379,598 | |
Total loans | 431,958 | 380,630 | |
Total Loans [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Non- accrual | 1,595 | 1,901 | |
Total past due and non-accrual | 6,353 | 2,361 | |
Current | 577,910 | 549,458 | |
Total loans | 584,263 | 551,819 | |
Total Loans [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Non- accrual | 7,782 | 7,790 | |
Total past due and non-accrual | 8,449 | 10,444 | |
Current | 693,227 | 712,592 | |
Total loans | 701,676 | 723,036 | |
Total Loans [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Non- accrual | 1,040 | 772 | |
Total past due and non-accrual | 1,558 | 1,328 | |
Current | 96,332 | 96,456 | |
Total loans | 97,890 | 97,784 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Non- accrual | 23,221 | 13,951 | |
Total past due and non-accrual | 28,295 | 15,679 | |
Current | 2,834,822 | 2,608,494 | |
Total loans | 2,863,117 | 2,624,173 | |
Total Loans [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Non- accrual | 380 | 768 | |
Total past due and non-accrual | 380 | 1,034 | |
Current | 240,565 | 221,122 | |
Total loans | 240,945 | 222,156 | |
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Non- accrual | 858 | 742 | |
Total past due and non-accrual | 858 | 742 | |
Current | 42,384 | 48,462 | |
Total loans | 43,242 | 49,204 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 584,263 | 551,819 | |
Total Loans [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Non- accrual | 8,822 | 8,562 | |
Total past due and non-accrual | 10,007 | 11,772 | |
Current | 789,559 | 809,048 | |
Total loans | 799,566 | 820,820 | |
Total Loans [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Non- accrual | 65 | 42 | |
Total past due and non-accrual | 149 | 149 | |
Current | 22,576 | 24,468 | |
Total loans | 22,725 | 24,617 | |
Total Loans [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total loans | 60,592 | 70,879 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 18,247 | 20,398 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 35,585 | 40,393 | |
Total Loans [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 6,760 | 9,995 | |
Total Loans [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 93 | ||
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Past due loans | 11,067 | 4,610 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Past due loans | 4,725 | ||
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Past due loans | 4,413 | 495 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Past due loans | 627 | 893 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Past due loans | 33 | 328 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Past due loans | 4,758 | 328 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Past due loans | 667 | 2,106 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Past due loans | 518 | 556 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Past due loans | 5,040 | 1,529 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Past due loans | 141 | ||
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Past due loans | 1,185 | 2,662 | |
Total Loans [Member] | 30-89 Days Past Due | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Past due loans | 84 | 91 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Past due loans | 34 | 895 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Past due loans | 34 | 74 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Past due loans | 132 | ||
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Past due loans | 132 | ||
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Past due loans | 548 | ||
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Past due loans | 34 | 199 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Past due loans | 125 | ||
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Past due loans | 548 | ||
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Past due loans | $ 16 | ||
Non Accrual [Member] | |||
Loans [Line Items] | |||
Non- accrual | $ 33,700 |
Loans - Credit Exposure for Loa
Loans - Credit Exposure for Loans as Determined by Company's Internal Risk Rating System (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Loans [Line Items] | |||
Total Loans | $ 4,330,263 | $ 4,092,308 | $ 3,825,555 |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 60,592 | $ 82,954 | |
Total Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 4,330,263 | 4,092,308 | |
Total Loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,881,364 | 2,644,571 | |
Total Loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 806,326 | 830,815 | |
Total Loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 22,725 | 24,710 | |
Total Loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 619,848 | 592,212 | |
Total Loans [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 4,269,671 | 4,021,429 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,124,362 | 1,931,147 | |
Total Loans [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 240,945 | 222,156 | |
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 43,242 | 49,204 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,863,117 | 2,624,173 | |
Total Loans [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 584,263 | 551,819 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 92,163 | 94,854 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 17,976 | 19,650 | |
Total Loans [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 42,166 | 56,685 | |
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 454,568 | 421,666 | |
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 431,958 | 380,630 | |
Total Loans [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 799,566 | 820,820 | |
Total Loans [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 701,676 | 723,036 | |
Total Loans [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 97,890 | 97,784 | |
Total Loans [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 22,725 | 24,617 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 584,263 | 551,819 | |
Total Loans [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 60,592 | 70,879 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 18,247 | 20,398 | |
Total Loans [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 6,760 | 9,995 | |
Total Loans [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 93 | ||
Total Loans [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 35,585 | 40,393 | |
Total Loans [Member] | Pass [Member] | |||
Loans [Line Items] | |||
Total Loans | 4,195,947 | 3,973,689 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 4,140,659 | 3,909,304 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,080,469 | 1,890,710 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 223,810 | 220,004 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 42,383 | 48,462 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,766,643 | 2,552,580 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 565,471 | 524,721 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 90,955 | 92,731 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 17,201 | 19,529 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 41,660 | 56,685 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 419,981 | 393,404 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 415,655 | 355,776 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 785,885 | 807,428 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 689,558 | 710,972 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 96,327 | 96,456 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 22,660 | 24,575 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 55,288 | 64,385 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,588 | 17,579 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 5,036 | 7,484 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 34,664 | 39,322 | |
Total Loans [Member] | Special Mention [Member] | |||
Loans [Line Items] | |||
Total Loans | 82,171 | 63,975 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 81,034 | 62,284 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 23,621 | 16,531 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,971 | 1,260 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 61,240 | 34,140 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,956 | 24,158 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 915 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 725 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 21,648 | 16,349 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,231 | 23,243 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,838 | 3,986 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 3,420 | 3,571 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 418 | 415 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,137 | 1,691 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 525 | 537 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 383 | 908 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 229 | 246 | |
Total Loans [Member] | Substandard [Member] | |||
Loans [Line Items] | |||
Total Loans | 48,291 | 53,527 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 44,124 | 48,724 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 16,648 | 22,919 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,131 | 847 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 859 | 742 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 31,417 | 36,336 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,799 | 2,940 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,208 | 1,208 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 50 | 121 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 506 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 12,779 | 11,828 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,035 | 1,611 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 9,843 | 9,406 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 8,698 | 8,493 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 1,145 | 913 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 65 | 42 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 4,167 | 4,803 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,134 | 2,282 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,341 | 1,603 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 93 | ||
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 692 | 825 | |
Total Loans [Member] | Doubtful [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,854 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,854 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,624 | 987 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Food and Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 33 | 45 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,817 | 1,117 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 37 | ||
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 160 | $ 85 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 37 |
Loans - Additional Information
Loans - Additional Information Regarding Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans [Line Items] | ||
Unpaid principal balance, Total | $ 51,922 | $ 42,726 |
Recorded investment of impaired loans | 40,398 | 31,079 |
Loans and Leases Receivable, Allowance | 3,909 | 1,169 |
Commercial and Industrial [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 4,156 | 4,374 |
Recorded investment with no related allowance recorded | 2,721 | 3,029 |
Unpaid principal balance of impaired loans with an allowance recorded | 16,758 | 7,252 |
Recorded investment of impaired loans with an allowance recorded | 14,107 | 4,627 |
Allowance for loan losses allocated with an allowance recorded | 3,635 | 996 |
Food and Agriculture [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,476 | 1,468 |
Recorded investment with no related allowance recorded | 1,220 | 1,260 |
Unpaid principal balance of impaired loans with an allowance recorded | 835 | 883 |
Recorded investment of impaired loans with an allowance recorded | 821 | 845 |
Allowance for loan losses allocated with an allowance recorded | 36 | 46 |
Energy Loans [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 5,483 | 5,366 |
Recorded investment with no related allowance recorded | 859 | 742 |
Commercial Loan [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 18,453 | 18,338 |
Recorded investment with no related allowance recorded | 11,501 | 11,640 |
Unpaid principal balance of impaired loans with an allowance recorded | 19,192 | 9,497 |
Recorded investment of impaired loans with an allowance recorded | 16,316 | 6,641 |
Allowance for loan losses allocated with an allowance recorded | 3,836 | 1,132 |
Commercial Construction [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,435 | 1,435 |
Recorded investment with no related allowance recorded | 1,208 | 1,208 |
Commercial Acquisition/Development [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 38 | 378 |
Recorded investment with no related allowance recorded | 9 | 121 |
Owner-Occupied [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 7,338 | 7,130 |
Recorded investment with no related allowance recorded | 6,701 | 6,609 |
Unpaid principal balance of impaired loans with an allowance recorded | 1,599 | 1,362 |
Recorded investment of impaired loans with an allowance recorded | 1,388 | 1,169 |
Allowance for loan losses allocated with an allowance recorded | 165 | 90 |
Non Owner-Occupied [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 91 | 641 |
Recorded investment with no related allowance recorded | 28 | 547 |
Unpaid principal balance of impaired loans with an allowance recorded | 600 | 313 |
Recorded investment of impaired loans with an allowance recorded | 541 | 254 |
Allowance for loan losses allocated with an allowance recorded | 39 | 2 |
Total Commercial Real Estate [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,564 | 2,454 |
Recorded investment with no related allowance recorded | 1,245 | 1,876 |
Unpaid principal balance of impaired loans with an allowance recorded | 600 | 313 |
Recorded investment of impaired loans with an allowance recorded | 541 | 254 |
Allowance for loan losses allocated with an allowance recorded | 39 | 2 |
Senior lien | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 4,105 | 4,229 |
Recorded investment with no related allowance recorded | 3,854 | 3,814 |
Unpaid principal balance of impaired loans with an allowance recorded | 6,158 | 6,032 |
Recorded investment of impaired loans with an allowance recorded | 5,259 | 5,178 |
Allowance for loan losses allocated with an allowance recorded | 26 | 27 |
Junior lien | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 361 | 409 |
Recorded investment with no related allowance recorded | 331 | 341 |
Unpaid principal balance of impaired loans with an allowance recorded | 1,419 | 1,408 |
Recorded investment of impaired loans with an allowance recorded | 1,286 | 1,293 |
Allowance for loan losses allocated with an allowance recorded | 8 | 8 |
Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 4,466 | 4,638 |
Recorded investment with no related allowance recorded | 4,185 | 4,155 |
Unpaid principal balance of impaired loans with an allowance recorded | 7,577 | 7,440 |
Recorded investment of impaired loans with an allowance recorded | 6,545 | 6,471 |
Allowance for loan losses allocated with an allowance recorded | 34 | 35 |
Consumer [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 70 | 46 |
Recorded investment with no related allowance recorded | 65 | 42 |
Impaired Loans With No Related Allowance Recorded [Member] [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 24,553 | 25,476 |
Recorded investment with no related allowance recorded | 16,996 | 17,713 |
Impaired Loans With Related Allowance Recorded [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance of impaired loans with an allowance recorded | 27,369 | 17,250 |
Recorded investment of impaired loans with an allowance recorded | 23,402 | 13,366 |
Allowance for loan losses allocated with an allowance recorded | $ 3,909 | $ 1,169 |
Loans - Impaired Loans - Averag
Loans - Impaired Loans - Average Recorded Investment and Interest Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Loans [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | $ 40,587 | $ 36,065 | $ 41,148 | $ 36,815 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 88 | 158 | 178 | 317 |
Commercial and Industrial [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,755 | 5,321 | 2,805 | 5,565 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 44 | 90 | 88 | 173 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 14,161 | 4,607 | 14,319 | 4,639 |
Owner-Occupied [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 6,719 | 6,723 | 6,761 | 6,793 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 5 | 17 | 14 | 35 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,397 | 1,233 | 1,411 | 1,249 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 6 | 4 | 12 | 9 |
Food and Agriculture [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,221 | 1,259 | 1,412 | 1,259 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 6 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 844 | 2,142 | 845 | 2,084 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 3 | 1 | 4 | 2 |
Energy Loans [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 831 | 1,843 | 804 | 2,098 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 17 | 37 | ||
Commercial Loan [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 11,526 | 15,147 | 11,782 | 15,715 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 49 | 124 | 102 | 251 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 16,402 | 7,982 | 16,575 | 7,972 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 9 | 5 | 16 | 11 |
Commercial Construction [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,208 | 1,081 | 1,208 | 1,081 |
Commercial Acquisition/Development [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9 | 827 | 10 | 856 |
Multifamily [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 9 | 19 | ||
Non Owner-Occupied [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 29 | 574 | 30 | 591 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 548 | 297 | 557 | 308 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 4 | 5 | 9 | 9 |
Total Commercial Real Estate [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,246 | 2,481 | 1,248 | 2,528 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 548 | 306 | 557 | 327 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 4 | 5 | 9 | 9 |
Senior lien | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,869 | 2,818 | 3,892 | 2,846 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 5,298 | 5,744 | 5,375 | 5,821 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 16 | 13 | 29 | 26 |
Junior lien | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 334 | 354 | 339 | 358 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 1 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,297 | 1,187 | 1,311 | 1,202 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 10 | 11 | 21 | 20 |
Residential Real Estate Segment [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 4,203 | 3,172 | 4,231 | 3,204 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 1 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,595 | 6,931 | 6,686 | 7,023 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 26 | 23 | 50 | 46 |
Consumer [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 11 | 14 | 11 | 14 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 56 | 31 | 58 | 32 |
Impaired Loans With No Related Allowance Recorded [Member] [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 16,986 | 20,815 | 17,272 | 21,461 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 49 | 124 | 103 | 251 |
Impaired Loans With Related Allowance Recorded [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 23,601 | 15,250 | 23,876 | 15,354 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | $ 39 | $ 33 | $ 75 | $ 66 |
Loans - Troubled Debt Restructu
Loans - Troubled Debt Restructuring and Loans Accounted for Under ASC Topic 310-30 Narratives (Details) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019USD ($)loanitem | Jun. 30, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |||
Troubled Debt Restructuring Nonaccrual Loans | $ 6.4 | $ 3 | |
Number of restructured loans | item | 10 | ||
Troubled Debt Restructurings [Member] | |||
Debt Instrument [Line Items] | |||
TDR's modified within the past year that defaulted on their restructured terms | loan | 2 | 1 | |
Recorded investment | $ 4 | ||
Agriculture and Consumer loans [Member] | |||
Debt Instrument [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0.2 | $ 0.2 |
Loans - Additional Informatio_2
Loans - Additional Information Related to Accruing TDR's (Details) - Accruing TDR [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Loans [Line Items] | ||
Recorded investment | $ 2,634 | $ 4,073 |
Average year-to- date recorded investment | 2,682 | 4,250 |
Unpaid principal balance | 2,838 | 4,556 |
Unfunded commitments to fund TDRs | 163 | 12 |
Commercial [Member] | ||
Loans [Line Items] | ||
Recorded investment | 1,181 | 2,730 |
Average year-to- date recorded investment | 1,192 | 2,827 |
Unpaid principal balance | 1,301 | 3,155 |
Unfunded commitments to fund TDRs | 151 | |
Commercial Real Estate [Member] | ||
Loans [Line Items] | ||
Recorded investment | 177 | 229 |
Average year-to- date recorded investment | 191 | 260 |
Unpaid principal balance | 222 | 280 |
Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Recorded investment | 1,276 | 1,114 |
Average year-to- date recorded investment | 1,299 | 1,163 |
Unpaid principal balance | 1,315 | 1,121 |
Unfunded commitments to fund TDRs | $ 12 | $ 12 |
Loans - Summary of Company's Ca
Loans - Summary of Company's Carrying Value of Non-Accrual TDR's (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | $ 6,400 | $ 3,000 |
Non-Accruing TDR [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | 6,430 | 3,438 |
Non-Accruing TDR [Member] | Commercial [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | 4,682 | 1,854 |
Non-Accruing TDR [Member] | Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | $ 1,748 | $ 1,584 |
Loans - Re-Measurement of Loans
Loans - Re-Measurement of Loans Accounted for Under ASC Topic 310-30 Resulting in Changes in Carrying Amount of Accretable Yield (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield beginning balance | $ 35,901 | $ 46,568 |
Reclassification from non-accretable difference | 2,869 | 8,053 |
Reclassification to non-accretable difference | (731) | (1,695) |
Accretion | (6,981) | (10,224) |
Accretable yield ending balance | $ 31,058 | $ 42,702 |
Loans - Composition of Net Book
Loans - Composition of Net Book Value for Loans Accounted for under ASC Topic 310-30 (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Receivables [Abstract] | ||
Contractual cash flows | $ 403,727 | $ 420,994 |
Non-accretable difference | (312,077) | (314,214) |
Accretable yield | (31,058) | (35,901) |
Loans accounted for under ASC 310-30 | $ 60,592 | $ 70,879 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Company's Allowance for Loan Losses ("All") and Recorded Investment in Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | $ 37,055 | $ 30,686 | $ 35,692 | $ 31,264 | |||
Provision (recoupment) for loan losses | 3,300 | 4,773 | 1,914 | ||||
Ending balance | 40,082 | 32,230 | 40,082 | 32,230 | |||
Carrying amount of loan investments | $ 4,330,263 | $ 4,092,308 | $ 3,825,555 | ||||
Loans | 40,082 | 30,686 | 40,082 | 32,230 | 40,082 | 35,692 | 32,230 |
Total Loans | 4,330,263 | 4,092,308 | 3,825,555 | ||||
Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 36,840 | 30,574 | 35,461 | 31,193 | |||
Charge-offs | (294) | (335) | (562) | (1,051) | |||
Recoveries | 82 | 67 | 179 | 164 | |||
Provision (recoupment) for loan losses | 3,263 | 1,723 | 4,813 | 1,723 | |||
Ending balance | 39,891 | 32,029 | 39,891 | 32,029 | |||
Loans | 36,840 | 30,574 | 39,891 | 32,029 | 39,891 | 35,461 | 32,029 |
Originated and acquired loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Ending allowance balance individually evaluated for impairment | 3,909 | 1,239 | |||||
Ending allowance balance collectively evaluated for impairment | 35,982 | 30,790 | |||||
Loans individually evaluated for impairment | 41,933 | 34,822 | |||||
Loans collectively evaluated for impairment | 4,227,738 | 3,707,779 | |||||
ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 215 | 112 | 231 | 71 | |||
Charge-offs | (61) | (61) | |||||
Provision (recoupment) for loan losses | (24) | 150 | (40) | 191 | |||
Ending balance | 191 | 201 | 191 | 201 | |||
Loans individually evaluated for impairment | 191 | ||||||
Carrying amount of loan investments | 60,592 | 82,954 | |||||
Loans | 215 | 112 | 191 | 201 | 191 | 231 | 201 |
Total Loans | 60,592 | 82,954 | |||||
Commercial Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 28,075 | 21,578 | 27,137 | 21,385 | |||
Ending balance | 30,823 | 23,582 | 30,823 | 23,582 | |||
Carrying amount of loan investments | 2,881,364 | 2,318,118 | |||||
Loans | 28,075 | 21,578 | 30,823 | 23,582 | 30,823 | 27,137 | 23,582 |
Total Loans | 2,881,364 | 2,318,118 | |||||
Commercial Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 27,894 | 21,485 | 26,946 | 21,340 | |||
Charge-offs | (70) | (82) | (437) | ||||
Recoveries | 3 | 13 | 30 | 55 | |||
Provision (recoupment) for loan losses | 2,815 | 1,902 | 3,748 | 2,442 | |||
Ending balance | 30,642 | 23,400 | 30,642 | 23,400 | |||
Loans | 27,894 | 21,485 | 30,642 | 23,400 | 30,642 | 26,946 | 23,400 |
Commercial Portfolio Segment [Member] | Originated and acquired loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Ending allowance balance individually evaluated for impairment | 3,836 | 1,204 | |||||
Ending allowance balance collectively evaluated for impairment | 26,806 | 22,196 | |||||
Loans individually evaluated for impairment | 27,818 | 22,038 | |||||
Loans collectively evaluated for impairment | 2,835,299 | 2,273,002 | |||||
Commercial Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 181 | 93 | 191 | 45 | |||
Charge-offs | (61) | (61) | |||||
Provision (recoupment) for loan losses | 150 | (10) | 198 | ||||
Ending balance | 181 | 182 | 181 | 182 | |||
Loans individually evaluated for impairment | 181 | ||||||
Carrying amount of loan investments | 18,247 | 23,078 | |||||
Loans | 181 | 93 | 181 | 182 | 181 | 191 | 182 |
Total Loans | 18,247 | 23,078 | |||||
Residential Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,718 | 3,928 | 3,800 | 3,965 | |||
Ending balance | 3,851 | 3,781 | 3,851 | 3,781 | |||
Carrying amount of loan investments | 806,326 | 838,035 | |||||
Loans | 3,718 | 3,928 | 3,851 | 3,781 | 3,851 | 3,800 | 3,781 |
Total Loans | 806,326 | 838,035 | |||||
Residential Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,684 | 3,928 | 3,760 | 3,965 | |||
Charge-offs | (24) | (90) | (47) | (90) | |||
Recoveries | 16 | 4 | 29 | 6 | |||
Provision (recoupment) for loan losses | 165 | (61) | 99 | (100) | |||
Ending balance | 3,841 | 3,781 | 3,841 | 3,781 | |||
Loans | 3,684 | 3,928 | 3,841 | 3,781 | 3,841 | 3,760 | 3,781 |
Residential Portfolio Segment [Member] | Originated and acquired loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Ending allowance balance individually evaluated for impairment | 34 | 32 | |||||
Ending allowance balance collectively evaluated for impairment | 3,807 | 3,749 | |||||
Loans individually evaluated for impairment | 10,729 | 9,974 | |||||
Loans collectively evaluated for impairment | 788,837 | 816,696 | |||||
Residential Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 34 | 40 | |||||
Provision (recoupment) for loan losses | (24) | (30) | |||||
Ending balance | 10 | 10 | |||||
Loans individually evaluated for impairment | 10 | ||||||
Carrying amount of loan investments | 6,760 | 11,365 | |||||
Loans | 34 | 10 | 10 | 40 | |||
Total Loans | 6,760 | 11,365 | |||||
Consumer Loan [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 348 | 290 | 349 | 305 | |||
Ending balance | 341 | 306 | 341 | 306 | |||
Carrying amount of loan investments | 22,725 | 26,250 | |||||
Loans | 348 | 290 | 341 | 306 | 341 | 349 | 306 |
Total Loans | 22,725 | 26,250 | |||||
Consumer Loan [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 348 | 290 | 349 | 305 | |||
Charge-offs | (200) | (234) | (433) | (513) | |||
Recoveries | 63 | 50 | 109 | 103 | |||
Provision (recoupment) for loan losses | 130 | 200 | 316 | 411 | |||
Ending balance | 341 | 306 | 341 | 306 | |||
Loans | 348 | 290 | 341 | 306 | 341 | 349 | 306 |
Consumer Loan [Member] | Originated and acquired loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Ending allowance balance individually evaluated for impairment | 1 | ||||||
Ending allowance balance collectively evaluated for impairment | 341 | 305 | |||||
Loans individually evaluated for impairment | 1,600 | 43 | |||||
Loans collectively evaluated for impairment | 21,125 | 26,107 | |||||
Consumer Loan [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Carrying amount of loan investments | 100 | ||||||
Total Loans | 100 | ||||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,914 | 4,890 | 4,406 | 5,609 | |||
Ending balance | 5,067 | 4,561 | 5,067 | 4,561 | |||
Carrying amount of loan investments | 619,848 | 643,152 | |||||
Loans | 4,914 | 4,890 | 5,067 | 4,561 | 5,067 | 4,406 | 4,561 |
Total Loans | 619,848 | 643,152 | |||||
Commercial Real Estate Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,914 | 4,871 | 4,406 | 5,583 | |||
Charge-offs | (11) | (11) | |||||
Recoveries | 11 | ||||||
Provision (recoupment) for loan losses | 153 | (318) | 650 | (1,030) | |||
Ending balance | 5,067 | 4,542 | 5,067 | 4,542 | |||
Loans | $ 4,914 | 4,871 | $ 5,067 | 4,542 | 5,067 | $ 4,406 | 4,542 |
Commercial Real Estate Portfolio Segment [Member] | Originated and acquired loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Ending allowance balance individually evaluated for impairment | 39 | 2 | |||||
Ending allowance balance collectively evaluated for impairment | 5,028 | 4,540 | |||||
Loans individually evaluated for impairment | 1,786 | 2,767 | |||||
Loans collectively evaluated for impairment | 582,477 | 591,974 | |||||
Commercial Real Estate Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 19 | 26 | |||||
Provision (recoupment) for loan losses | (7) | ||||||
Ending balance | 19 | 19 | |||||
Carrying amount of loan investments | 35,585 | 48,411 | |||||
Loans | $ 19 | $ 19 | 19 | ||||
Total Loans | $ 35,585 | $ 48,411 |
Allowance for Loan Losses - Nar
Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Allowance For Loan And Lease Losses [Line Items] | ||||
Provision (recoupment) for loan losses | $ 3,300 | $ 4,773 | $ 1,914 | |
Specific Reserve in Provision | 2,400 | |||
Originated and acquired loans [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Charge-offs, net | 200 | 400 | ||
Provision (recoupment) for loan losses | 3,263 | $ 1,723 | 4,813 | 1,723 |
ASC 310-30 [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Provision (recoupment) for loan losses | $ (24) | $ 150 | $ (40) | $ 191 |
Leases - ASC Topic 842 - (Detai
Leases - ASC Topic 842 - (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 |
Leases | ||||
Lease right-of-use | $ 28,000 | $ 28,000 | ||
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Other Assets [Member] | Other Assets [Member] | ||
Lease liabilities | $ 28,060 | $ 28,060 | ||
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other Liabilities [Member] | Other Liabilities [Member] | ||
Cumulative effect of adjustment to retained earnings | $ 256 | $ 26 | ||
Weighted-average remaining lease term (in years) | 5 years | 5 years | ||
Weighted-average discount rate (in percent) | 3.43% | 3.43% | ||
Rent expense | $ 1,400 | $ 2,800 | ||
Remaining undiscounted cash flows | ||||
For the six months ending December 31, 2019 | 2,838 | 2,838 | ||
For the year ending December 31, 2020 | 5,172 | 5,172 | ||
For the year ending December 31, 2021 | 4,843 | 4,843 | ||
For the year ending December 31, 2022 | 4,324 | 4,324 | ||
For the year ending December 31, 2023 | 3,921 | 3,921 | ||
Thereafter | 16,570 | 16,570 | ||
Total lease payments | 37,668 | 37,668 | ||
Less: Imputed interest | 9,608 | 9,608 | ||
Present value of operating lease liabilities | $ 28,060 | $ 28,060 | ||
Maximum | ||||
Leases | ||||
Term of lease (in years) | 9 years | 9 years | ||
Minimum | ||||
Leases | ||||
Term of lease (in years) | 1 year | 1 year | ||
2016-02 | ||||
Leases | ||||
Lease right-of-use | $ 30,500 | |||
Lease liabilities | 30,500 | |||
Cumulative effect of adjustment to retained earnings | 300 | |||
Remaining undiscounted cash flows | ||||
Present value of operating lease liabilities | $ 30,500 |
Leases - ASC Topic 840 - (Detai
Leases - ASC Topic 840 - (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Future minimum lease payments | |
2019 | $ 3,092 |
2020 | 2,981 |
2021 | 3,091 |
2022 | 3,052 |
2023 | 2,047 |
Thereafter | 10,163 |
Total | $ 24,426 |
Other Real Estate Owned - Summa
Other Real Estate Owned - Summary of Activity in OREO Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | |
Other Real Estate [Roll Forward] | |||
Beginning balance | $ 7,054 | $ 7,054 | $ 35,469 |
Acquired through acquisition | 1,253 | ||
Transfers from loan portfolio, at fair value | 288 | 24,382 | |
Impairments | (684) | (64) | |
Sales | $ (2,300) | (3,146) | (593) |
Ending balance | $ 10,596 | $ 10,491 |
Other Real Estate Owned - Narra
Other Real Estate Owned - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Real Estate Owned | ||||||
Other real estate owned | $ 7,054 | $ 35,469 | $ 7,054 | $ 35,469 | $ 10,596 | $ 10,491 |
Decrease in OREO | $ 3,500 | |||||
OREO sales | 2,300 | 3,146 | 593 | |||
Gain (loss) on OREO sales, net | $ 318 | $ 14 | $ 686 | $ (64) |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Narrative (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019USD ($)item | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)item | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2018USD ($) | |
Goodwill and Intangible Assets | ||||||
Goodwill acquired | $ 115,027 | $ 115,027 | $ 115,027 | |||
Goodwill Impairment | 0 | 0 | 0 | |||
Amortization of acquired identifiable intangibles | 296 | $ 653 | 592 | $ 1,306 | ||
Mortgage loans serviced | 357,000 | 419,800 | ||||
Mortgage service fees | 300 | 300 | 500 | 700 | ||
Peoples Inc [Member] | ||||||
Goodwill and Intangible Assets | ||||||
Goodwill acquired | $ 55,397 | |||||
Core Deposits | ||||||
Goodwill and Intangible Assets | ||||||
Intangible assets acquired | 48,800 | 48,800 | ||||
Amortization of acquired identifiable intangibles | 300 | 700 | 600 | 1,400 | ||
Accumulated amortization | 39,511 | $ 39,511 | $ 38,920 | |||
Core Deposits | Minimum | ||||||
Goodwill and Intangible Assets | ||||||
Amortization period | 7 years | |||||
Core Deposits | Maximum | ||||||
Goodwill and Intangible Assets | ||||||
Amortization period | 10 years | |||||
Core Deposits | Peoples Inc [Member] | ||||||
Goodwill and Intangible Assets | ||||||
Intangible assets acquired | 10,477 | |||||
Mortgage servicing rights | ||||||
Goodwill and Intangible Assets | ||||||
Amortization of acquired identifiable intangibles | $ 200 | $ 200 | $ 353 | $ 386 | ||
Mortgage servicing rights | Measurement Input, Discount Rate [Member] | Minimum | ||||||
Goodwill and Intangible Assets | ||||||
Servicing assets measurement input (as a percent) | item | 0.095 | 0.095 | ||||
Mortgage servicing rights | Measurement Input, Discount Rate [Member] | Maximum | ||||||
Goodwill and Intangible Assets | ||||||
Servicing assets measurement input (as a percent) | item | 0.105 | 0.105 | ||||
Mortgage servicing rights | Measurement Input, Constant Prepayment Rate [Member] | Minimum | ||||||
Goodwill and Intangible Assets | ||||||
Servicing assets measurement input (as a percent) | item | 0.159 | 0.159 | ||||
Mortgage servicing rights | Measurement Input, Constant Prepayment Rate [Member] | Maximum | ||||||
Goodwill and Intangible Assets | ||||||
Servicing assets measurement input (as a percent) | item | 0.232 | 0.232 | ||||
Mortgage servicing rights | Peoples Inc [Member] | ||||||
Goodwill and Intangible Assets | ||||||
Intangible assets acquired | $ 4,301 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Carrying Amounts (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
Core Deposits | |||
Carrying amount of intangible assets | |||
Gross carrying amount | $ 48,834 | $ 48,834 | |
Accumulated amortization | 39,511 | 38,920 | |
Net carrying amount | 9,323 | 9,914 | |
Mortgage servicing rights | |||
Carrying amount of intangible assets | |||
Net carrying amount | $ 2,944 | $ 3,556 | $ 3,915 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Changes in Servicing Rights (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Changes in the mortgage servicing rights | ||||
Amortization | $ (296) | $ (653) | $ (592) | $ (1,306) |
Mortgage servicing rights | ||||
Changes in the mortgage servicing rights | ||||
Beginning balance | 3,556 | |||
Acquired through acquisition | 4,301 | |||
Originations | 18 | |||
Impairment | (277) | |||
Amortization | (200) | (200) | (353) | (386) |
Ending balance | 2,944 | 3,915 | 2,944 | 3,915 |
Fair value of mortgage servicing rights | $ 2,945 | $ 4,473 | $ 2,945 | $ 4,473 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Summary of Estimated Future Amortization Expense (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Core Deposits | |
Estimated future amortization expense | |
For the six months ending December 31, 2019 | $ 592 |
For the year ending December 31, 2020 | 1,183 |
For the year ending December 31, 2021 | 1,183 |
For the year ending December 31, 2022 | 1,127 |
For the year ending December 31, 2023 | 1,048 |
Mortgage servicing rights | |
Estimated future amortization expense | |
For the six months ending December 31, 2019 | 300 |
For the year ending December 31, 2020 | 539 |
For the year ending December 31, 2021 | 429 |
For the year ending December 31, 2022 | 342 |
For the year ending December 31, 2023 | $ 272 |
Borrowings - Narrative (Details
Borrowings - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 7.7 | $ 7.7 | $ 5.9 | ||
Amount of repurchase agreements | 60.4 | 60.4 | 66 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 1,200 | 1,200 | |||
Loans pledged | 1,600 | 1,600 | 1,600 | ||
Interest expense related to FHLB advances | 1.9 | $ 0.6 | 3.4 | $ 1.1 | |
Line of credit | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
FHLB advances | $ 257.4 | $ 257.4 | 234.3 | ||
Term financing | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Last | 2020 | 2020 | |||
FHLB advances | $ 15 | $ 15 | $ 67.3 | ||
Interest rate range of FHLB advances | 2.33% | 2.33% | |||
Term financing | Minimum | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Last | 2019 | ||||
Interest rate range of FHLB advances | 1.55% | ||||
Term financing | Maximum | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Last | 2020 | ||||
Interest rate range of FHLB advances | 2.33% | ||||
Federal Home Loan Bank of Des Moines [Member] | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 16 | $ 16 | $ 16 | ||
U.S. Treasury Securities [Member] | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 70 | $ 70 | $ 73.9 |
Regulatory Capital - Capital Ra
Regulatory Capital - Capital Ratio Requirements under Prompt Corrective Action or Other Regulatory Requirements (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital conservation buffer | 2.50% | |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage Ratio | 10.60% | 10.50% |
Common equity risk-based ratio | 12.90% | 12.90% |
Risk-based capital Ratio | 12.90% | 12.90% |
Total risk-based capital Ratio | 13.80% | 13.80% |
Leverage Amount | $ 607,352 | $ 580,504 |
Common equity risk-based amount | 607,352 | 580,504 |
Risk-based capital amount | 607,352 | 580,504 |
Total risk-based capital Amount | $ 650,389 | $ 620,275 |
Required to be considered adequately capitalized Ratio, leverage ratio | 4.00% | 4.00% |
Required to be considered adequately capitalized Ratio, risk-based common equity capital ratio | 7.00% | 7.00% |
Required to be considered adequately capitalized Ratio, risk-based capital ratio | 8.50% | 8.50% |
Required to be considered adequately capitalized Ratio, Total risk-based capital ratio | 10.50% | 10.50% |
Required to be considered adequately capitalized leverage Amount | $ 229,151 | $ 220,988 |
Required to be considered adequately capitalized common equity capital amount | 401,014 | 386,728 |
Required to be considered adequately capitalized risk-based capital Amount | 401,082 | 382,306 |
Required to be considered adequately capitalized Total risk-based capital Amount | $ 495,455 | $ 472,261 |
NBH Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage Ratio | 8.80% | 9.00% |
Common equity risk-based ratio | 10.70% | 11.10% |
Risk-based capital Ratio | 10.70% | 11.10% |
Total risk-based capital Ratio | 11.60% | 12.00% |
Leverage Amount | $ 502,988 | $ 498,283 |
Common equity risk-based amount | 502,988 | 498,283 |
Risk-based capital amount | 502,988 | 498,283 |
Total risk-based capital Amount | $ 546,025 | $ 538,054 |
Required to be considered well capitalized Ratio, leverage ratio | 5.00% | 5.00% |
Required to be considered adequately capitalized Ratio, risk-based common equity capital ratio | 6.50% | 6.50% |
Required to be considered well capitalized Ratio, risk-based capital ratio | 8.00% | 8.00% |
Required to be considered well capitalized Ratio, Total risk-based capital ratio | 10.00% | 10.00% |
Required to be considered well capitalized leverage Amount | $ 286,051 | $ 275,703 |
Required to be considered well capitalized common equity capital amount | 371,866 | 358,414 |
Required to be considered well capitalized risk-based capital Amount | 376,917 | 358,938 |
Required to be considered well capitalized Total risk-based capital Amount | $ 471,146 | $ 448,672 |
Required to be considered adequately capitalized Ratio, leverage ratio | 4.00% | 4.00% |
Required to be considered adequately capitalized Ratio, risk-based common equity capital ratio | 7.00% | 7.00% |
Required to be considered adequately capitalized Ratio, risk-based capital ratio | 8.50% | 8.50% |
Required to be considered adequately capitalized Ratio, Total risk-based capital ratio | 10.50% | 10.50% |
Required to be considered adequately capitalized leverage Amount | $ 228,841 | $ 220,563 |
Required to be considered adequately capitalized common equity capital amount | 400,471 | 385,984 |
Required to be considered adequately capitalized risk-based capital Amount | 400,474 | 381,372 |
Required to be considered adequately capitalized Total risk-based capital Amount | $ 494,703 | $ 471,106 |
Revenue from Contracts with C_3
Revenue from Contracts with Clients - Non-interest income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Revenue from Contracts with Clients | |||||
(Gain) loss on OREO sales, net | $ (318) | $ (14) | $ (686) | $ 64 | |
Service Charges and other fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 4,541 | 4,371 | 8,862 | 8,881 | |
Bank card fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 3,766 | 3,672 | 7,194 | 7,034 | |
ASU 2014-09 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 20,660 | 19,562 | 37,711 | 37,398 | |
Contract balances | 0 | 0 | $ 0 | ||
ASU 2014-09 | In-scope of Topic 606 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 8,634 | 8,680 | 16,904 | 17,217 | |
(Gain) loss on OREO sales, net | 318 | 14 | 686 | (64) | |
Total Revenue | 8,316 | 8,666 | 16,218 | 17,281 | |
ASU 2014-09 | In-scope of Topic 606 | Service Charges and other fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 4,868 | 5,008 | 9,710 | 10,183 | |
ASU 2014-09 | In-scope of Topic 606 | Bank card fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 3,766 | 3,672 | 7,194 | 7,034 | |
ASU 2014-09 | Out-of-scope of Topic 606 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | $ 12,026 | $ 10,882 | $ 20,807 | $ 20,181 |
Stock-based Compensation and Em
Stock-based Compensation and Employee Benefits - Narrative (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)shares | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)$ / sharesshares | Jun. 30, 2018USD ($)shares | |
Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | $ 200,000 | $ 200,000 | $ 300,000 | $ 400,000 |
Unrecognized compensation expense | 1,000,000 | $ 1,000,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 4 months 24 days | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | shares | 84,008 | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | $ 35.05 | |||
Stock based compensation expense | 800,000 | 600,000 | $ 900,000 | 1,000,000 |
Restricted Stock [Member] | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation expense | 3,400,000 | $ 3,400,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 2 months 12 days | |||
Performance stock units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | shares | 60,781 | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | $ 30.85 | |||
Stock based compensation expense | 500,000 | $ 400,000 | $ 700,000 | $ 700,000 |
Performance stock units | EPS target | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | $ 34.08 | |||
Performance stock units | TSR target | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | $ 27.01 | |||
Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation expense | $ 3,300,000 | $ 3,300,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 1 month 6 days | |||
Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | EPS target | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of awards based on performance type | 60.00% | |||
Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | TSR target | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of awards based on performance type | 40.00% | |||
Employee Stock [Member] | Employee Stock Purchase Plan 2014 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | shares | 400,000 | 400,000 | ||
Maximum stock purchases by employees, value | $ 25,000 | |||
Maximum stock purchases by employees (in shares) | shares | 2,000 | |||
Discount on purchase of common stock (as a percent) | 90.00% | |||
Offering period for employee stock purchases | 6 months | |||
Employees purchased shares (in shares) | shares | 6,201 | 5,960 | ||
Shares available for issuance | shares | 336,443 | 336,443 | ||
Minimum | Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 1 year | |||
Minimum | Restricted Stock [Member] | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 1 year | |||
Minimum | Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of initial target awards | 0 | |||
Maximum | Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Contractual term (in years) | 10 years | |||
Maximum | Restricted Stock [Member] | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Maximum | Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of initial target awards | 150 |
Stock-based Compensation and _3
Stock-based Compensation and Benefits - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Outstanding Options, beginning | 1,264,876 | |
Granted, Options | 146,609 | |
Exercised, Options | (685,198) | |
Forfeited, Options | (42,903) | |
Outstanding Options, ending | 683,384 | 1,264,876 |
Options fully vested and exercisable at end of period, Options | 423,632 | |
Options expected to vest, Options | 645,766 | |
Outstanding, Weighted average exercise price, beginning | $ 22.33 | |
Granted, Weighted average exercise price | 34.19 | |
Exercised, Weighted average exercise price | 20.11 | |
Forfeited, Weighted average exercise price | 30.94 | |
Outstanding, Weighted average exercised price, ending | 26.56 | $ 22.33 |
Options fully vested and exercisable at end of period, Weighted average exercise price | 22.15 | |
Options expected to vest, Weighted average exercise price | $ 26.13 | |
Outstanding, Weighted average remaining contractual term in years | 6 years 9 months 3 days | 3 years 11 months 1 day |
Options fully vested and exercisable at end of period, weighted average remaining contractual term in years | 5 years 3 months 7 days | |
Options expected to vest, Weighted average remaining contractual term in years | 6 years 7 months 9 days | |
Outstanding, Aggregate intrinsic value, beginning | $ 11,387 | |
Outstanding, Outstanding, Aggregate intrinsic value, beginning | 6,671 | $ 11,387 |
Aggregate intrinsic Value of Options fully vested and exercisable at end of period | 5,997 | |
Options expected to vest, Aggregate Intrinsic Value | $ 6,578 |
Stock-based Compensation and _4
Stock-based Compensation and Benefits - Summary of Restricted Stock Activity (Details) | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Unvested Restricted shares, Beginning (in shares) | shares | 146,494 |
Unvested Restricted shares, Granted (in shares) | shares | 84,008 |
Unvested Restricted shares, Vested (in shares) | shares | (73,879) |
Unvested Restricted shares, Forfeited (in shares) | shares | (18,108) |
Unvested Restricted shares, Ending (in shares) | shares | 138,515 |
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, Beginning (in dollars per share) | $ / shares | $ 28.19 |
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | 35.05 |
Weighted average grant-date fair value, Vested (in dollars per share) | $ / shares | 23.46 |
Weighted average grant-date fair value, Forfeited (in dollars per share) | $ / shares | 31.88 |
Weighted average grant-date fair value, Ending (in dollars per share) | $ / shares | $ 34.39 |
Performance stock units | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Unvested Restricted shares, Beginning (in shares) | shares | 192,049 |
Unvested Restricted shares, Granted (in shares) | shares | 60,781 |
Unvested Restricted shares, Net adjustment due to performance (in shares) | shares | 22,246 |
Unvested Restricted shares, Vested (in shares) | shares | (95,308) |
Unvested Restricted shares, Forfeited (in shares) | shares | (19,401) |
Unvested Restricted shares, Ending (in shares) | shares | 160,367 |
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, Beginning (in dollars per share) | $ / shares | $ 26.40 |
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | 30.85 |
Weighted average grant-date fair value, Net adjustment due to performance (in dollars per share) | $ / shares | 17.36 |
Weighted average grant-date fair value, Vested (in dollars per share) | $ / shares | 18.02 |
Weighted average grant-date fair value, Forfeited (in dollars per share) | $ / shares | 31.54 |
Weighted average grant-date fair value, Ending (in dollars per share) | $ / shares | $ 31.19 |
Common Stock - Narrative (Detai
Common Stock - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Aug. 05, 2016 | |
Schedule Of Common Stock [Line Items] | |||
Shares outstanding | 31,139,044 | 30,769,063 | |
Common Class A [Member] | |||
Schedule Of Common Stock [Line Items] | |||
Shares outstanding | 31,139,044 | 30,769,063 | |
Restricted issued but not yet vested, shares | 138,515 | 146,494 | |
New Board Authorized Share Repurchase Program | |||
Schedule Of Common Stock [Line Items] | |||
Stock repurchase program, authorized amount | $ 50 | ||
Remaining authorized amount | $ 12.6 |
Earnings Per Share - Narrative
Earnings Per Share - Narrative (Details) - $ / shares | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Earnings Per Share | |||
Shares outstanding | 31,139,044 | 30,726,789 | |
Outstanding stock options to purchase common stock | 683,384 | 1,291,991 | 1,264,876 |
Outstanding stock options to purchase common stock, per share | $ 26.56 | $ 22.20 | $ 22.33 |
Restricted shares outstanding | 298,882 | 348,406 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Computation of Basic and Diluted Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share | ||||
Net income | $ 20,282 | $ 17,512 | $ 39,204 | $ 25,977 |
Less: income allocated to participating securities | (26) | (18) | (44) | (31) |
Income allocated to common shareholders | $ 20,256 | $ 17,494 | $ 39,160 | $ 25,946 |
Weighted average shares outstanding for basic earnings per common share | 31,155,264 | 30,735,427 | 31,058,761 | 30,615,226 |
Dilutive effect of equity awards | 449,394 | 651,748 | 499,854 | 660,133 |
Weighted average shares outstanding for diluted earnings per common share | 31,604,658 | 31,387,175 | 31,558,615 | 31,275,359 |
Basic earnings per share (in dollars per share) | $ 0.65 | $ 0.57 | $ 1.26 | $ 0.85 |
Diluted earnings per share (in dollars per share) | $ 0.64 | $ 0.56 | $ 1.24 | $ 0.83 |
Derivatives - FV of Derivatives
Derivatives - FV of Derivatives on the Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | $ 1,565 | $ 17,436 |
Liability derivatives fair value | 12,833 | 228 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 10,299 | 4,062 |
Liability derivatives fair value | 10,232 | 3,893 |
Other assets [Member] | Interest rate products [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 1,565 | 17,436 |
Other assets [Member] | Interest rate products [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 8,531 | 3,191 |
Other assets [Member] | Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 1,758 | 871 |
Other assets [Member] | Forward Contracts [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 10 | |
Other liabilities [Member] | Interest rate products [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Liability derivatives fair value | 12,833 | 228 |
Other liabilities [Member] | Interest rate products [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Liability derivatives fair value | 9,242 | 3,349 |
Other liabilities [Member] | Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Liability derivatives fair value | 208 | 72 |
Other liabilities [Member] | Forward Contracts [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Liability derivatives fair value | $ 782 | $ 472 |
Derivatives - Narrative (Detail
Derivatives - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||
Notional amount | $ 169.2 | |
Termination value of derivatives in net liability position | 21.3 | |
Collateral Already Posted, Aggregate Fair Value | 24.1 | |
Hedged Loans | 434.2 | $ 522.7 |
Cumulative fair value hedge adjustment | 11.9 | 13.2 |
Interest Rate Lock Commitments [Member] | ||
Derivative [Line Items] | ||
Notional amount | 50.1 | |
Interest Rate Lock Commitments Notional Amount Member | ||
Derivative [Line Items] | ||
Notional amount | 140.1 | |
Forward Contract Notional [Member] | ||
Derivative [Line Items] | ||
Notional amount | 77.6 | |
Designated as Hedging Instrument [Member] | Interest rate swap derivatives [Member] | ||
Derivative [Line Items] | ||
Notional amount | 432 | 473.4 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest rate swap derivatives [Member] | ||
Derivative [Line Items] | ||
Notional amount | $ 459.4 | $ 206.8 |
Derivatives - Derivatives on th
Derivatives - Derivatives on the Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | $ (1,176) | $ (209) | $ (1,097) | $ 1,396 |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | (7,514) | 5,288 | (17,600) | 17,340 |
Amount of (loss) recognized in income on hedged items | 4,780 | (5,347) | 14,917 | (17,264) |
Interest rate products [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | (290) | 3 | (563) | 124 |
Interest rate products [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | (7,514) | 5,288 | (17,600) | 17,340 |
Amount of (loss) recognized in income on hedged items | 4,780 | (5,347) | 14,917 | (17,264) |
Forward Contracts [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | (1,502) | 305 | (2,302) | 1,413 |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain (loss) recognized in income on derivatives | $ 616 | $ (517) | $ 1,768 | $ (141) |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Commitment And Contingencies [Line Items] | |||
Loan commitments | $ 738.1 | $ 773.5 | |
Mortgage Repurchase Reserve | 2.6 | $ 4 | |
Standby Letters of Credit [Member] | |||
Commitment And Contingencies [Line Items] | |||
Standby letters of credit | $ 8.3 | $ 10.6 |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Total Unfunded Commitments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | $ 746,398 | $ 784,077 |
Commitments to fund loans [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | 206,031 | 183,946 |
Unfunded Commitment Line Of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | 532,107 | 589,573 |
Commercial And Standby Letters Of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | $ 8,260 | $ 10,558 |
Fair Value Measurements - Table
Fair Value Measurements - Tables of Financial Instruments Measured At Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 827,298 | $ 860,082 |
Total liabilities at fair value | 23,065 | 4,121 |
Loans held for sale member | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 105,866 | 48,120 |
Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 441 | 441 |
Mortgage-Backed Securities (MBS) [Member] | Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 123,769 | 146,642 |
Mortgage-Backed Securities (MBS) [Member] | Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 585,358 | 643,381 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 825,530 | 859,211 |
Total liabilities at fair value | 22,075 | 3,577 |
Level 2 [Member] | Loans held for sale member | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 105,866 | 48,120 |
Level 2 [Member] | Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 441 | 441 |
Level 2 [Member] | Mortgage-Backed Securities (MBS) [Member] | Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 123,769 | 146,642 |
Level 2 [Member] | Mortgage-Backed Securities (MBS) [Member] | Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 585,358 | 643,381 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,768 | 871 |
Total liabilities at fair value | 990 | 544 |
Interest rate swap derivatives [Member] | Derivative [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 10,096 | 20,627 |
Total liabilities at fair value | 22,075 | 3,577 |
Interest rate swap derivatives [Member] | Level 2 [Member] | Derivative [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 10,096 | 20,627 |
Total liabilities at fair value | 22,075 | 3,577 |
Mortgage banking derivatives | Derivative [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,768 | 871 |
Total liabilities at fair value | 990 | 544 |
Mortgage banking derivatives | Level 3 [Member] | Derivative [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,768 | 871 |
Total liabilities at fair value | $ 990 | $ 544 |
Fair Value Measurements - Tab_2
Fair Value Measurements - Table of Changes in Level 3 Financial Instruments (Details) - Derivative Financial Instruments Assets and Liabilities [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Beginning Balance | $ 327 |
Gain included in earnings, net | 451 |
Ending Balance | $ 778 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | $ 4,330,263 | $ 3,825,555 | $ 4,092,308 |
Impairment on other real estate owned | $ 684 | $ 64 | |
Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Number of Loans measured | loan | 9 | 6 | |
Loans | $ 14,500 | $ 6,300 | |
Nonrecurring Loans Reserves | $ 3,900 | 1,200 | |
Impaired Loans [Member] | Minimum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Discount rate | 0.00% | ||
Impaired Loans [Member] | Maximum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Discount rate | 25.00% | ||
Mortgage servicing rights member | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment on other real estate owned | $ 277 | $ 0 | |
Mortgage servicing rights member | Minimum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Discount rate | 9.50% | ||
Mortgage servicing rights member | Maximum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Discount rate | 10.50% |
Fair Value Measurements - Input
Fair Value Measurements - Inputs Used to Determine Fair Values of Oreo are Considered Level 3 Inputs in Fair Value Hierarchy (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | $ 827,298 | $ 860,082 | |
Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 50,396 | $ 74,205 | |
Losses From Fair Value Changes | 1,469 | 1,153 | |
Impaired loans [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 40,398 | 34,822 | |
Losses From Fair Value Changes | 508 | 1,089 | |
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 7,054 | 35,469 | |
Losses From Fair Value Changes | 684 | 64 | |
Mortgage servicing rights member | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets at fair value | 2,944 | $ 3,915 | |
Losses From Fair Value Changes | $ 277 |
Fair Value Measurements - Tab_3
Fair Value Measurements - Table of Valuation Techniques and Unobservable Inputs Used in Valuation of Financial Instruments Falling Within Level 3 of Fair Value Hierarchy (Details) - Mortgage servicing rights member | Jun. 30, 2019 |
Minimum | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |
Servicing assets measurement input (as a percent) | 15.9 |
Maximum | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |
Servicing assets measurement input (as a percent) | 23.2 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 |
ASSETS: | |||
Cash and cash equivalents | $ 91,159 | $ 109,556 | |
Investment securities available-for-sale (at fair value) | 710,206 | 791,102 | |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 206,361 | 235,398 | |
Non-marketable securities | 30,726 | 27,555 | |
Loans receivable | 4,290,181 | 4,056,616 | |
Carrying amount of loan investments | 4,330,263 | 4,092,308 | $ 3,825,555 |
Loans held-for-sale | 105,866 | 48,120 | |
LIABILITIES: | |||
Time deposits | 1,081,637 | 1,080,529 | |
Securities sold under agreements to repurchase | 60,430 | 66,047 | |
Federal Home Loan Bank advances | 272,414 | 301,660 | |
Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 123,769 | 146,642 | |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 136,964 | 157,115 | |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 585,358 | 643,381 | |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 69,397 | 78,283 | |
Other Securities [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 469 | 469 | |
Municipal [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 610 | 610 | |
Carrying Amount [Member] | Level 1 [Member] | |||
ASSETS: | |||
Cash and cash equivalents | 91,159 | 109,556 | |
Carrying Amount [Member] | Level 2 [Member] | |||
ASSETS: | |||
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 123,769 | 146,642 | |
Non-marketable securities | 30,726 | 27,555 | |
Loans held-for-sale | 105,866 | 48,120 | |
Accrued interest receivable | 19,992 | 17,852 | |
LIABILITIES: | |||
Deposit transaction accounts | 3,606,360 | 3,445,092 | |
Time deposits | 1,081,637 | 1,080,529 | |
Securities sold under agreements to repurchase | 60,430 | 66,047 | |
Federal Home Loan Bank advances | 272,414 | 301,660 | |
Accrued interest payable | 8,047 | 6,889 | |
Derivative liability | 22,075 | 3,577 | |
Carrying Amount [Member] | Level 3 [Member] | |||
ASSETS: | |||
Loans receivable | 4,330,263 | 4,092,308 | |
Carrying Amount [Member] | Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | Level 2 [Member] | |||
ASSETS: | |||
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 136,964 | 157,115 | |
Carrying Amount [Member] | Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | Level 2 [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 585,358 | 643,381 | |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 69,397 | 78,283 | |
Carrying Amount [Member] | Other Securities [Member] | Level 3 [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 469 | 469 | |
Carrying Amount [Member] | Municipal [Member] | Level 2 [Member] | |||
ASSETS: | |||
Municipal obligations | 441 | 441 | |
Carrying Amount [Member] | Municipal [Member] | Level 3 [Member] | |||
ASSETS: | |||
Municipal obligations | 169 | 169 | |
Estimated Fair Value [Member] | Level 1 [Member] | |||
ASSETS: | |||
Cash and cash equivalents | 91,159 | 109,556 | |
Estimated Fair Value [Member] | Level 2 [Member] | |||
ASSETS: | |||
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 123,769 | 146,642 | |
Non-marketable securities | 30,726 | 27,555 | |
Loans held-for-sale | 105,866 | 48,120 | |
Accrued interest receivable | 19,992 | 17,852 | |
LIABILITIES: | |||
Deposit transaction accounts | 3,606,360 | 3,445,092 | |
Time deposits | 1,080,162 | 1,068,233 | |
Securities sold under agreements to repurchase | 60,430 | 66,047 | |
Federal Home Loan Bank advances | 272,773 | 301,933 | |
Accrued interest payable | 8,047 | 6,889 | |
Derivative liability | 22,075 | 3,577 | |
Estimated Fair Value [Member] | Level 3 [Member] | |||
ASSETS: | |||
Loans receivable | 4,432,831 | 4,082,146 | |
Estimated Fair Value [Member] | Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | Level 2 [Member] | |||
ASSETS: | |||
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 137,541 | 154,412 | |
Estimated Fair Value [Member] | Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | Level 2 [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 585,358 | 643,381 | |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 68,861 | 76,514 | |
Estimated Fair Value [Member] | Other Securities [Member] | Level 3 [Member] | |||
ASSETS: | |||
Investment securities available-for-sale (at fair value) | 469 | 469 | |
Estimated Fair Value [Member] | Municipal [Member] | Level 2 [Member] | |||
ASSETS: | |||
Municipal obligations | 441 | 441 | |
Estimated Fair Value [Member] | Municipal [Member] | Level 3 [Member] | |||
ASSETS: | |||
Municipal obligations | 169 | 169 | |
Interest rate swap derivatives [Member] | Carrying Amount [Member] | Level 2 [Member] | |||
ASSETS: | |||
Derivative asset | 10,096 | 20,627 | |
Interest rate swap derivatives [Member] | Estimated Fair Value [Member] | Level 2 [Member] | |||
ASSETS: | |||
Derivative asset | 10,096 | 20,627 | |
Mortgage banking derivatives | Carrying Amount [Member] | Level 3 [Member] | |||
ASSETS: | |||
Derivative asset | 1,768 | 871 | |
LIABILITIES: | |||
Derivative liability | 990 | 544 | |
Mortgage banking derivatives | Estimated Fair Value [Member] | Level 3 [Member] | |||
ASSETS: | |||
Derivative asset | 1,768 | 871 | |
LIABILITIES: | |||
Derivative liability | $ 990 | $ 544 |
Acquisition Activities - Narrat
Acquisition Activities - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 |
Business Acquisition [Line Items] | |||||
Closing price | $ 32.43 | ||||
Acquisition related expenses | $ 400 | $ 8,000 | |||
Amortization of acquired identifiable intangibles | $ 296 | $ 653 | $ 592 | $ 1,306 | |
Peoples Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash | $ 36,189 | ||||
Cash consideration | 3,398,477 | ||||
Restricted cash placed in escrow | $ 10,000 | ||||
Transaction value | 146,402 | ||||
Mortgage repurchase reserve | 4,000 | ||||
Gross contractual amounts receivable | 713,600 | ||||
Loans not expected to be collected | $ 2,100 |
Acquisition Activities - Summar
Acquisition Activities - Summary of Net Assets Acquired (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Jun. 30, 2019 | Dec. 31, 2018 |
Consideration: | |||
Goodwill | $ 115,027 | $ 115,027 | |
Closing price | $ 32.43 | ||
Core Deposits | |||
Assets: | |||
Intangible asset | $ 48,800 | ||
Peoples Inc [Member] | |||
Assets: | |||
Cash and due from banks | $ 105,173 | ||
Investment securities available-for-sale (at fair value) | 118,512 | ||
Non-marketable securities | 4,796 | ||
Loans, net | 542,707 | ||
Loans held for sale | 54,260 | ||
Other real estate owned | 1,253 | ||
Premises and equipment, net | 18,584 | ||
Other assets | 15,361 | ||
Total assets acquired | 875,424 | ||
Liabilities: | |||
Total deposits | 729,911 | ||
FHLB borrowings | 33,825 | ||
Other liabilities | 20,683 | ||
Total liabilities assumed | 784,419 | ||
Identifiable net assets acquired | 91,005 | ||
Consideration: | |||
Common stock paid | 110,213 | ||
Cash | 36,189 | ||
Total Consideration | 146,402 | ||
Goodwill | 55,397 | ||
Peoples Inc [Member] | Core Deposits | |||
Assets: | |||
Intangible asset | $ 10,477 | ||
Amortization period for intangible assets | 10 years | ||
Peoples Inc [Member] | Mortgage servicing rights | |||
Assets: | |||
Intangible asset | $ 4,301 |
Subsequent Event (Details)
Subsequent Event (Details) - USD ($) $ in Thousands | Aug. 01, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Subsequent Event [Line Items] | |||||||
Gain (loss) on OREO sales, net | $ 318 | $ 14 | $ 686 | $ (64) | |||
Other real estate owned | 7,054 | $ 35,469 | 7,054 | $ 35,469 | $ 10,596 | $ 10,491 | |
Previously Acquired OREO Property | |||||||
Subsequent Event [Line Items] | |||||||
Other real estate owned | $ 0 | $ 0 | |||||
Subsequent Event | Previously Acquired OREO Property | |||||||
Subsequent Event [Line Items] | |||||||
Gain (loss) on OREO sales, net | $ 4,400 |