Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 06, 2018 | |
Document Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | NBHC | |
Entity Registrant Name | National Bank Holdings Corp | |
Entity Central Index Key | 1,475,841 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 30,735,284 | |
Entity Current Reporting Status | Yes |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 137,417 | $ 193,297 |
Interest bearing bank deposits | 500 | 64,067 |
Cash and cash equivalents | 137,917 | 257,364 |
Investment securities available-for-sale (at fair value) | 856,751 | 855,345 |
Investment securities held-to-maturity (at amortized cost) | 266,197 | 258,730 |
Non-marketable securities | 20,070 | 15,030 |
Loans | 3,825,555 | 3,178,947 |
Allowance for loan losses | (32,230) | (31,264) |
Loans, net | 3,793,325 | 3,147,683 |
Loans held for sale | 113,057 | 4,629 |
Other real estate owned | 35,469 | 10,491 |
Premises and equipment, net | 111,415 | 93,708 |
Goodwill | 115,027 | 59,630 |
Intangible assets, net | 14,693 | 1,607 |
Other assets | 183,335 | 139,248 |
Total assets | 5,647,256 | 4,843,465 |
Liabilities: | ||
Non-interest bearing demand deposits | 1,099,601 | 902,439 |
Interest bearing demand deposits | 682,998 | 474,607 |
Savings and money market | 1,716,534 | 1,484,463 |
Time deposits | 1,132,331 | 1,118,050 |
Total deposits | 4,631,464 | 3,979,559 |
Securities sold under agreements to repurchase | 73,441 | 130,463 |
Federal Home Loan Bank advances | 188,334 | 129,115 |
Other liabilities | 93,832 | 71,921 |
Total liabilities | 4,987,071 | 4,311,058 |
Shareholders' equity: | ||
Common stock | 515 | 515 |
Additional paid in capital | 1,012,175 | 970,668 |
Retained earnings | 81,182 | 60,795 |
Treasury stock at cost | (416,281) | (493,329) |
Accumulated other comprehensive loss, net of tax | (17,406) | (6,242) |
Total shareholders' equity | 660,185 | 532,407 |
Total liabilities and shareholders' equity | $ 5,647,256 | $ 4,843,465 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Investment securities held-to-maturity, fair value | $ 260,210 | $ 256,771 |
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 | 51,499,982 | 51,518,162 |
Common Stock, shares outstanding | 30,726,789 | 26,875,585 |
Treasury stock, shares | 20,617,110 | 24,479,020 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 47,533 | $ 34,411 | $ 92,813 | $ 66,174 |
Interest and dividends on investment securities | 6,810 | 6,489 | 13,336 | 13,102 |
Dividends on non-marketable securities | 249 | 218 | 493 | 385 |
Interest on interest-bearing bank deposits | 319 | 214 | 1,060 | 411 |
Total interest and dividend income | 54,911 | 41,332 | 107,702 | 80,072 |
Interest expense: | ||||
Interest on deposits | 4,865 | 3,904 | 9,499 | 7,691 |
Interest on borrowings | 660 | 536 | 1,170 | 767 |
Total interest expense | 5,525 | 4,440 | 10,669 | 8,458 |
Net interest income before provision for loan losses | 49,386 | 36,892 | 97,033 | 71,614 |
Provision for loan losses | 1,873 | 4,025 | 1,914 | 5,820 |
Net interest income after provision for loan losses | 47,513 | 32,867 | 95,119 | 65,794 |
Non-interest income: | ||||
Service charges | 4,371 | 3,546 | 8,881 | 6,872 |
Bank card fees | 3,672 | 3,134 | 7,034 | 5,938 |
Mortgage banking income | 8,911 | 594 | 16,882 | 1,048 |
Bank-owned life insurance income | 446 | 472 | 898 | 942 |
Other non-interest income | 1,711 | 4,124 | 2,862 | 5,538 |
OREO related income | 451 | 86 | 841 | 314 |
Total non-interest income | 19,562 | 11,956 | 37,398 | 20,652 |
Non-interest expense: | ||||
Salaries and benefits | 29,123 | 19,909 | 59,795 | 40,299 |
Occupancy and equipment | 7,190 | 5,242 | 15,145 | 10,679 |
Telecommunications and data processing | 2,101 | 1,552 | 6,467 | 3,139 |
Marketing and business development | 1,237 | 545 | 2,461 | 1,196 |
FDIC deposit insurance | 757 | 686 | 1,510 | 1,391 |
Bank card expense | 1,097 | 896 | 3,233 | 1,779 |
Professional fees | 738 | 1,270 | 3,557 | 1,686 |
Other non-interest expense | 3,106 | 2,733 | 6,951 | 5,139 |
Problem asset workout | 775 | 880 | 1,556 | 1,752 |
(Gain) loss on OREO sales, net | (14) | (1,644) | 64 | (1,756) |
Core deposit intangible asset amortization | 653 | 1,370 | 1,306 | 2,740 |
Total non-interest expense | 46,763 | 33,439 | 102,045 | 68,044 |
Income before income taxes | 20,312 | 11,384 | 30,472 | 18,402 |
Income tax expense | 2,800 | 2,175 | 4,495 | 935 |
Net income | $ 17,512 | $ 9,209 | $ 25,977 | $ 17,467 |
Earnings per share-basic (in dollars per share) | $ 0.57 | $ 0.34 | $ 0.85 | $ 0.65 |
Earnings per share-diluted (in dollars per share) | $ 0.56 | $ 0.33 | $ 0.83 | $ 0.63 |
Weighted average number of common shares outstanding: | ||||
Basic (Shares) | 30,735,427 | 26,955,187 | 30,615,226 | 26,878,904 |
Diluted (Shares) | 31,387,175 | 27,597,443 | 31,275,359 | 27,637,532 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 17,512 | $ 9,209 | $ 25,977 | $ 17,467 |
Securities available-for-sale: | ||||
Net unrealized gains (losses) arising during the period, net of tax | (2,191) | 1,014 | (8,971) | 1,276 |
Less: amortization of net unrealized holding gains to income, net of tax | (327) | (353) | (714) | (710) |
Other comprehensive (loss) income | (2,518) | 661 | (9,685) | 566 |
Comprehensive income | $ 14,994 | $ 9,870 | $ 16,292 | $ 18,033 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Tax (expense) benefit on net unrealized gains arising during the period | $ 688 | $ (631) | $ 2,990 | $ (792) |
Tax (expense) benefit of amortization of net unrealized holding gains to income | $ 103 | $ 217 | $ 988 | $ 173 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Adjustments for New Accounting Principle, Early Adoption [Member]Retained earnings [Member] | Adjustments for New Accounting Principle, Early Adoption [Member]Accumulated other comprehensive income (loss), net [Member] | Adjustments for New Accounting Principle, Early Adoption [Member] | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Treasury stock [Member] | Accumulated other comprehensive income (loss), net [Member] | Total |
Balance in the beginning at Dec. 31, 2016 | $ 514 | $ 984,087 | $ 55,454 | $ (502,104) | $ (1,762) | $ 536,189 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 17,467 | 17,467 | |||||||
Stock-based compensation | 1,869 | 1,869 | |||||||
Issuance of stock under purchase and equity compensation plans, including gain on reissuance of treasury stock of net | 1 | (12,878) | 5,624 | (7,253) | |||||
Cash dividends declared | (4,351) | (4,351) | |||||||
Warrant exercise | (1,933) | 1,933 | |||||||
Other comprehensive income (loss) | 566 | 566 | |||||||
Balance in the ending at Jun. 30, 2017 | 515 | 971,145 | 68,570 | (494,547) | (1,196) | 544,487 | |||
Balance in the beginning at Dec. 31, 2017 | 515 | 970,668 | 60,795 | (493,329) | (6,242) | 532,407 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
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 of net | (2,742) | 9,078 | 6,336 | ||||||
Reissuance of treasury stock for acquisition 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 | Accounting Standards Update 2018-02 [Member] | $ 1,479 | $ (1,479) | |||||||
Cumulative effect adjustment | Accounting Standards Update 2017-12 [Member] | $ 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 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Gain on reissuance of treasury stock | $ 7,272 | $ 5,004 |
Reissuance of treasury stock, shares | 3,398,477 | |
Cash dividends declared per share | $ 0.23 | $ 0.16 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 25,977 | $ 17,467 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 1,914 | 5,820 |
Depreciation and amortization | 6,039 | 6,630 |
Current income tax receivable | 479 | 1,622 |
Deferred income taxes | 3,098 | (369) |
Net excess tax benefit on stock-based compensation | (1,161) | (3,393) |
Discount accretion, net of premium amortization on securities | 753 | 1,324 |
Loan accretion | (12,401) | (12,728) |
Gain on sale of mortgages, net | (14,849) | (1,048) |
Origination of loans held for sale, net of repayments | (526,071) | (39,279) |
Proceeds from sales of loans held for sale | 489,191 | 53,719 |
Bank-owned life insurance income | (898) | (942) |
Loss (gain) on the sale of other real estate owned, net | 64 | (1,756) |
Impairment on other real estate owned | 64 | 46 |
Gain on sale of fixed assets | (8) | 40 |
Gain from banking center divestitures | (2,886) | |
Stock-based compensation | 2,006 | 1,869 |
Change in other assets | (16,240) | 1,947 |
Change in other liabilities | 11,219 | 6,547 |
Net cash (used in) provided by operating activities | (30,824) | 34,630 |
Cash flows from investing activities: | ||
Purchase of FHLB stock | (9,421) | (7,204) |
Proceeds from redemption of FHLB stock | 9,160 | 3,685 |
Proceeds from maturities of investment securities held-to-maturity | 32,158 | 36,216 |
Proceeds from maturities of investment securities available-for-sale | 112,748 | 115,268 |
Proceeds from sales of investment securities available-for-sale | 33,202 | |
Proceeds from sales of non-marketable securities | 67 | |
Purchase of investment securities held-to-maturity | (40,735) | |
Purchase of investment securities available-for-sale | (42,199) | (96,948) |
Net increase in loans | (130,019) | (243,118) |
Purchases of premises and equipment, net | (3,462) | (581) |
Proceeds from sales of loans | 713 | 33,813 |
Proceeds from sales of other real estate owned | 529 | 3,714 |
Net cash activity from acquisition | 68,984 | |
Net cash provided by (used in) investing activities | 31,725 | (155,155) |
Cash flows from financing activities: | ||
Net decrease in deposits | (78,006) | (8,308) |
(Decrease) increase in repurchase agreements | (57,022) | 27,202 |
Advances from FHLB | 448,560 | 253,129 |
FHLB payoffs | (423,167) | (162,679) |
Issuance of stock under purchase and equity compensation plans | (2,377) | (7,253) |
Proceeds from exercise of stock options | 8,713 | |
Payment of dividends | (7,049) | (4,475) |
Net cash (used in) provided by financing activities | (110,348) | 97,616 |
Decrease in cash, cash equivalents and restricted cash | (109,447) | (22,909) |
Cash, cash equivalents and restricted cash at beginning of the year | 257,364 | 152,736 |
Cash, cash equivalents and restricted cash at end of period | 147,917 | 129,827 |
Supplemental disclosure of cash flow information during the period: | ||
Cash paid for interest | 10,310 | 8,333 |
Net tax refunds | 2,245 | 33 |
Supplemental schedule of non-cash investing activities: | ||
Loans transferred to other real estate owned at fair value | 24,382 | 639 |
(Decrease) increase in loans purchased but not settled | (10,037) | 1,937 |
Loans transferred from loans held for sale to loans | 2,440 | $ 3,729 |
Treasury stock reissued for acquisition | $ 110,213 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
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 with the intent to acquire and operate financial services franchises and other complementary businesses in targeted markets. The Company is headquartered immediately south of Denver, in Greenwood Village, 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 104 banking centers located primarily in Colorado and the greater Kansas City region, and through online and mobile banking products and services. On January 1, 2018, the Company completed the acquisition of Peoples, Inc. refer to note 3 – Acquisition Activities for further details. The accompanying interim unaudited consolidated financial statements serve to update the National Bank Holdings Corporation Annual Report on Form 10-K for the year ended December 31, 2017 and include the accounts of the Company and its wholly owned subsidiary, NBH Bank. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and where applicable, with general practices in the banking industry or guidelines prescribed by bank regulatory agencies. However, they may not include all information and notes necessary to constitute a complete set of financial statements under GAAP applicable to annual periods and accordingly should be read in conjunction with the financial information contained in the Company's most recent Form 10-K. The unaudited consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results presented. All such adjustments are of a normal recurring nature. All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications of prior years' amounts are made whenever necessary to conform to current period presentation. The results of operations for the interim period is not necessarily indicative of the results that may be expected for the full year or any other interim period. All amounts are in thousands, except share and per share data, or as otherwise noted. 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. Beginning in the first quarter 2018, loans previously referred to as "non 310-30 loans" are referred to as "originated and acquired loans," which include originated loans as well as acquired loans not accounted for under ASC 310-30. No amounts were reclassified resulting from this change in terminology. 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 for the year ended December 31, 2017 and are contained in the Company's Annual Report on Form 10-K. There have not been any significant changes to the application of significant accounting policies since December 31, 2017, except for the following additions: Mortgage Servicing– Mortgage servicing rights (“MSRs”) associated with loans originated and sold, where servicing is retained, are initially capitalized at fair value and included in intangible assets, net on the consolidated statements of financial condition. For subsequent measurement purposes, the Company measures servicing assets based on the lower of cost or market using the amortization method. The values of these capitalized servicing rights are amortized as an offset to the loan servicing income earned in relation to the servicing revenue expected to be earned. The carrying values of these rights are reviewed quarterly for impairment based on the fair value of those assets. For purposes of impairment evaluation and measurement, management stratifies MSRs based on the predominant risk characteristics of the underlying loans, including loan type and loan term. If, by individual stratum, the carrying amount of these MSRs exceeds fair value, a valuation allowance is established and the impairment is recognized in mortgage banking income. If the fair value of impaired MSRs subsequently increases, management recognizes the increase in fair value in current period mortgage banking income and, through a reduction in the valuation allowance, adjusts the carrying value of the MSRs to a level not in excess of amortized cost. Reserve for Mortgage Loan Repurchase Losses– The Company sells mortgage loans to various third parties, including government-sponsored entities, under contractual provisions that include various representations and warranties that typically cover ownership of the loan, compliance with loan criteria set forth in the applicable agreement, validity of the lien securing the loan, absence of delinquent taxes or liens against the property securing the loan, and similar matters. The Company may be required to repurchase the mortgage loans with identified defects, indemnify the investor or insurer, or reimburse the investor for credit loss incurred on the loan (collectively “repurchase”) in the event of a material breach of such contractual representations or warranties. Risk associated with potential repurchases or other forms of settlement is managed through underwriting and quality assurance practices. The Company establishes mortgage repurchase reserves related to various representations and warranties that reflect management’s estimate of losses based on a combination of factors. Such factors incorporate actual and historic loss history, delinquency trends in the portfolio and economic conditions. The Company establishes a reserve at the time loans are sold and quarterly updates the reserve estimate during the estimated loan life. The repurchase reserve is included in other liabilities on the consolidated statements of financial condition. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Recent Accounting Pronouncements | Note 2 Recent Accounting Pronouncements Revenue from Contracts with Customers —In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers . This update supersedes revenue recognition requirements in ASC Topic 605, Revenue Recognition , including most industry-specific revenue recognition guidance in the FASB Accounting Standards Codification (“ASC”). The new guidance stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides specific steps that entities should apply in order to achieve this principle. The amendments are effective for interim and annual periods beginning after December 15, 2017, with early application permitted for interim and annual periods beginning after December 15, 2016. ASU 2014-09 allows for either full retrospective or modified retrospective adoption. The new guidance does not apply to revenue associated with financial assets and liabilities including loans, leases, securities, and derivatives that are accounted for under other GAAP. Accordingly, the majority of the Company’s revenues are not affected. The Company adopted ASU No. 2014-09 on January 1, 2018 utilizing the modified retrospective approach. Additionally, the Company has determined certain service charges, bank card fees and real estate sales are within the scope of the ASU, but has not identified changes to the timing or amount of revenue recognition. Accounting policies and procedures did not change materially as the principles of revenue recognition from the ASU are largely consistent with existing guidance and current practices applied by the Company. Refer to note 11 of our consolidated financial statements for required disclosures under the new standard. Leases —In February 2016, the FASB issued ASU 2016-02, Leases. The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC Topic 840, Leases . The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statements. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company expects to adopt ASU 2016-02 in the first quarter of 2019 and is currently in the process of evaluating the impact of the ASU's adoption on the Company's consolidated financial statements . Financial Instruments - Credit Losses —In June 2016, the FASB issued ASU 2016-13, 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. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption in fiscal years beginning after December 15, 2018 is permitted. The amendment requires the use of the modified retrospective approach for adoption. The Company is in the process of evaluating the impact of the ASU’s adoption on the Company’s consolidated financial statements. Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities —In August 2017, the FASB issued ASU 2017-12 , Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities. The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU 2017-12 is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted, including in an interim period. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the consolidated statements of financial condition as of the date of adoption. The Company adopted ASU 2017-12 during the first quarter of 2018 and recorded a cumulative effect adjustment of $26 thousand within equity in the consolidated statements of financial condition. Reclassification of Certain Tax Effects —In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The amendments eliminate the stranded tax effects that were created as a result of the reduction of historical U.S. federal corporate income tax rate to the newly enacted U.S. federal corporate income tax rate. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted, and is to be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company early adopted ASU 2018-02 in the first quarter of 2018, resulting in a $1.5 million reclassification from accumulated other comprehensive loss to retained earnings on the consolidated statements of financial condition and the consolidated statements of changes in shareholders’ equity. Other Pronouncements —The company adopted ASU 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825), ASU 2016-18, Restricted Cash (a consensus of the FASB Emerging Issues Task Force, ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payment s and ASU 2017-05 Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) with no material impact on its financial statements. The Company reviewed ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment and ASU2018-07, Compensations – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting and does not expect the adoption of these pronouncements to have a material impact on its financial statements . |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 4 Investment Securities The Company’s investment securities portfolio is comprised of available-for-sale and held-to-maturity investment securities. These investment securities totaled $1.1 billion at June 30, 2018 and included $0.8 billion of available-for-sale securities and $0.3 billion of held-to-maturity securities. At December 31, 2017, investment securities totaled $1.1 billion and included $0.8 billion of available-for-sale securities and $0.3 billion of held-to-maturity securities. Available-for-sale At June 30, 2018 and December 31, 2017, the Company held $856.8 million and $855.3 million of available-for-sale investment securities, respectively. Available-for-sale securities are summarized as follows as of the dates indicated: June 30, 2018 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 $ 172,595 $ 1,429 $ (2,769) $ 171,255 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 710,097 116 (26,230) 683,983 Municipal securities 1,054 — (10) 1,044 Other securities 469 — — 469 Total investment securities available-for-sale $ 884,215 $ 1,545 $ (29,009) $ 856,751 December 31, 2017 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 $ 167,269 $ 2,371 $ (992) $ 168,648 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 702,107 351 (17,228) 685,230 Municipal securities 1,054 — (6) 1,048 Other securities 419 — — 419 Total investment securities available-for-sale $ 870,849 $ 2,722 $ (18,226) $ 855,345 At June 30, 2018 and December 31, 2017, 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 sponsored 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, 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 $ 93,407 $ (1,923) $ 28,208 $ (846) $ 121,615 $ (2,769) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 297,510 (5,435) 361,595 (20,795) 659,105 (26,230) Municipal securities 510 (10) — — 510 (10) Total $ 391,427 $ (7,368) $ 389,803 $ (21,641) $ 781,230 $ (29,009) December 31, 2017 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 $ 62,178 $ (408) $ 36,086 $ (584) $ 98,264 $ (992) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 162,346 (830) 412,967 (16,398) 575,313 (17,228) Municipal securities 514 (6) — — 514 (6) Total $ 225,038 $ (1,244) $ 449,053 $ (16,982) $ 674,091 $ (18,226) The unrealized losses in the Company's investment portfolio at June 30, 2018 were caused by changes in interest rates. The portfolio included 213 securities, having an aggregate fair value of $781.2 million, which were in an unrealized loss position at June 30, 2018, compared to 87 securities, with an aggregate fair value of $674.1 million at December 31, 2017. Management evaluated all of the available for sale securities in an unrealized loss position at June 30, 2018 and December 31, 2017, and concluded no other-than-temporary impairment (“OTTI”) existed at June 30, 2018 or December 31, 2018. During the six months ended June 30, 2017, the Company identified one security with OTTI with an aggregate fair value of $0.3 million, and recorded $0.2 million of OTTI included in other non-interest expense on the consolidated statement of operations during the three and six months ended June 30, 2017. The unrealized losses on the remaining securities in an unrealized loss position were caused by changes in interest rates. 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 FHLB, if needed. The fair value of available-for-sale investment securities pledged as collateral totaled $313.6 million and $334.6 million at June 30, 2018 and at December 31, 2017, 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. The estimated weighted average life of the available-for-sale mortgage-backed securities portfolio was 3.4 years and 3.4 years at June 30, 2018 and December 31, 2017, respectively. This estimate is based on assumptions and actual results may differ. At June 30, 2018 and December 31, 2017, the duration of the total available-for-sale investment portfolio was 3.1 years and 3.1 years, respectively. As of June 30, 2018, municipal securities with an amortized cost and fair value of $0.2 million were due after one year through five years and municipal securities with an amortized cost and fair value of $0.5 million were due after five years through ten years. Other securities of $0.3 million as of June 30, 2018, have no stated contractual maturity date. Held-to-maturity At June 30, 2018 and December 31, 2017, the Company held $266.2 million and $258.7 million of held-to-maturity investment securities, respectively. Held-to-maturity investment securities are summarized as follows as of the dates indicated: June 30, 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 $ 178,946 $ 2 $ (3,477) $ 175,471 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 87,251 — (2,512) 84,739 Total investment securities held-to-maturity $ $ 2 $ (5,989) $ 260,210 December 31, 2017 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 $ 204,352 $ 151 $ (455) $ 204,048 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 54,378 — (1,655) 52,723 Total investment securities held-to-maturity $ 258,730 $ 151 $ (2,110) $ 256,771 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, 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 $ 158,592 $ (2,972) $ 15,245 $ (506) $ 173,837 $ (3,478) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 44,284 (414) 40,456 (2,097) 84,740 (2,511) Total $ 202,876 $ (3,386) $ 55,701 $ (2,603) $ 258,577 $ (5,989) December 31, 2017 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 $ 149,182 $ (220) $ 17,506 $ (235) $ 166,688 $ (455) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 6,460 (65) 46,264 (1,590) 52,724 (1,655) Total $ 155,642 $ (285) $ 63,770 $ (1,825) $ 219,412 $ (2,110) The held-to-maturity portfolio included 49 securities, having an aggregate fair value of $258.6 million, which were in an unrealized loss position at June 30, 2018, compared to 36 securities, with a fair value of $219.4 million, at December 31, 2017. The unrealized losses in the Company's investments at June 30, 2018 and December 31, 2017 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, 2018 or December 31, 2017. 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 $153.0 million and $142.0 million at June 30, 2018 and December 31, 2017, respectively. Actual maturities of mortgage-backed securities may differ from scheduled maturities depending on the repayment characteristics and experience of the underlying financial instruments. The estimated weighted average expected life of the held-to-maturity mortgage-backed securities portfolio as of June 30, 2018 and December 31, 2017 was 3.0 years and 3.1 years, respectively. This estimate is based on assumptions and actual results may differ. The duration of the total held-to-maturity investment portfolio was 2.8 years and 2.8 years as of June 30, 2018 and December 31, 2017, respectively. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans | 90
30-59
60-89
than 90
originated and
days past
days past
days past
days past
Total past
acquired
due and
Non-
due
due
due
due
Current
loans
still accruing
accrual
Originated and acquired loans:
Commercial:
Commercial and industrial
$
1,765
$
2,644
$
2,305
$
6,714
$
1,673,659
$
1,680,373
$
40
$
5,545
Owner occupied commercial real estate
1,465
471
2,287
4,223
378,428
382,651
460
6,479
Agriculture
194
217
718
1,129
193,667
194,796
—
2,108
Energy
—
—
796
796
36,425
37,221
—
796
Total commercial
3,424
3,332
6,106
12,862
2,282,179
2,295,041
500
14,928
Commercial real estate non-owner occupied:
Construction
1,208
—
1,080
2,288
92,169
94,457
—
1,080
Acquisition/development
—
17
—
17
23,574
23,591
—
824
Multifamily
—
—
—
—
63,483
63,483
—
—
Non-owner occupied
19
332
142
493
412,716
413,209
142
597
Total commercial real estate
1,227
349
1,222
2,798
591,942
594,740
142
2,501
Residential real estate:
Senior lien
2,733
1,777
2,426
6,936
719,540
726,476
366
7,372
Junior lien
982
49
191
1,222
98,972
100,194
16
792
Total residential real estate
3,715
1,826
2,617
8,158
818,512
826,670
382
8,164
Consumer
278
94
98
470
25,680
26,150
80
42
Total originated and acquired loans
$
8,644
$
5,601
$
10,043
$
24,288
$
3,718,313
$
3,742,601
$
1,104
$
25,635
December 31, 2017
Greater
Total
Loans > 90
30-59
60-89
than 90
originated and
days past
days past
days past
days past
Total past
acquired
due and
Non-
due
due
due
due
Current
loans
still accruing
accrual
Originated and acquired loans:
Commercial:
Commercial and industrial
$
554
$
117
$
1,389
$
2,060
$
1,373,962
$
1,376,022
$
150
$
7,767
Owner occupied commercial real estate
696
—
1,983
2,679
270,074
272,753
—
3,478
Agriculture
585
—
701
1,286
137,609
138,895
—
2,003
Energy
—
—
1,645
1,645
55,815
57,460
—
1,645
Total commercial
1,835
117
5,718
7,670
1,837,460
1,845,130
150
14,893
Commercial real estate non-owner occupied:
Construction
—
—
179
179
107,502
107,681
—
179
Acquisition/development
1,097
—
—
1,097
13,318
14,415
—
—
Multifamily
—
—
—
—
26,947
26,947
—
—
Non-owner occupied
56
—
574
630
335,468
336,098
—
605
Total commercial real estate
1,153
—
753
1,906
483,235
485,141
—
784
Residential real estate:
Senior lien
1,167
885
1,396
3,448
643,034
646,482
—
4,724
Junior lien
233
91
41
365
56,631
56,996
—
459
Total residential real estate
1,400
976
1,437
3,813
699,665
703,478
—
5,183
Consumer
157
6
5
168
24,407
24,575
—
140
Total originated and acquired loans
$
4,545
$
1,099
$
7,913
$
13,557
$
3,044,767
$
3,058,324
$
150
$
21,000
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 $25.6 million at June 30, 2018, increasing $4.6 million, or 22.1% from December 31, 2017, due to the Peoples acquisition.
The Company’s internal risk rating system uses a series of grades that reflect its 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. Loans that are perceived to have acceptable risk are categorized as “Pass” loans. “Special mention” loans represent loans that have potential credit weaknesses that deserve close attention. Special mention loans include borrowers that have potential weaknesses or unwarranted risks that, unless corrected, may threaten the borrower's ability to meet debt service requirements. However, these borrowers are still believed to have the ability to respond to and resolve the financial issues that threaten their financial situation. Loans classified as “Substandard” have a well-defined credit weakness and are inadequately protected by the current paying capacity of the obligor or of the collateral pledged, if any. Although these loans are identified as potential problem loans, they may never become non-performing. Substandard loans have a distinct possibility of loss if the deficiencies are not corrected. “Doubtful” loans are loans that management believes the collection of payments in accordance with the terms of the loan agreement are highly questionable and improbable. Doubtful loans are deemed impaired and put on non-accrual status.
Credit exposure for all loans as determined by the Company’s internal risk rating system was as follows as of June 30, 2018 and December 31, 2017, respectively:
June 30, 2018
Special
Pass
mention
Substandard
Doubtful
Total
Originated and acquired loans:
Commercial:
Commercial and industrial
$
1,649,254
$
12,988
$
17,232
$
899
$
1,680,373
Owner occupied commercial real estate
346,325
26,910
9,341
75
382,651
Agriculture
189,923
2,765
1,890
218
194,796
Energy
36,425
—
796
—
37,221
Total commercial
2,221,927
42,663
29,259
1,192
2,295,041
Commercial real estate non-owner occupied:
Construction
93,377
—
1,080
—
94,457
Acquisition/development
22,767
—
824
—
23,591
Multifamily
63,483
—
—
—
63,483
Non-owner occupied
395,921
15,641
1,647
—
413,209
Total commercial real estate
575,548
15,641
3,551
—
594,740
Residential real estate:
Senior lien
713,175
5,338
7,963
—
726,476
Junior lien
98,623
504
1,067
—
100,194
Total residential real estate
811,798
5,842
9,030
—
826,670
Consumer
26,107
1
42
—
26,150
Total originated and acquired loans
$
3,635,380
$
64,147
$
41,882
$
1,192
$
3,742,601
Loans accounted for under ASC 310-30:
Commercial
$
18,610
$
1,051
$
3,417
$
—
$
23,078
Commercial real estate non-owner occupied
46,291
950
1,165
—
48,406
Residential real estate
8,860
947
1,558
—
11,365
Consumer
—
—
105
—
105
Total loans accounted for under ASC 310-30
$
73,761
$
2,948
$
6,245
$
—
$
82,954
Total loans
$
3,709,141
$
67,095
$
48,127
$
1,192
$
3,825,555
December 31, 2017
Special
Pass
mention
Substandard
Doubtful
Total
Originated and acquired loans:
Commercial:
Commercial and industrial
$
1,349,116
$
10,829
$
14,824
$
1,253
$
1,376,022
Owner occupied commercial real estate
250,224
17,030
5,424
75
272,753
Agriculture
118,068
18,824
1,870
133
138,895
Energy
55,814
—
1,646
—
57,460
Total commercial
1,773,222
46,683
23,764
1,461
1,845,130
Commercial real estate non-owner occupied:
Construction
107,502
—
179
—
107,681
Acquisition/development
14,415
—
—
—
14,415
Multifamily
24,817
—
2,130
—
26,947
Non-owner occupied
333,225
1,396
1,477
—
336,098
Total commercial real estate
479,959
1,396
3,786
—
485,141
Residential real estate:
Senior lien
641,294
91
5,097
—
646,482
Junior lien
56,172
—
824
—
56,996
Total residential real estate
697,466
91
5,921
—
703,478
Consumer
24,432
1
142
—
24,575
Total originated and acquired loans
$
2,975,079
$
48,171
$
33,613
$
1,461
$
3,058,324
Loans accounted for under ASC 310-30:
Commercial
$
23,954
$
1,070
$
4,451
$
—
$
29,475
Commercial real estate non-owner occupied
50,537
883
26,488
—
77,908
Residential real estate
10,072
1,055
1,632
—
12,759
Consumer
327
9
145
—
481
Total loans accounted for under ASC 310-30
$
84,890
$
3,017
$
32,716
$
—
$
120,623
Total loans
$
3,059,969
$
51,188
$
66,329
$
1,461
$
3,178,947
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, 2018, the Company measured $15.5 million of impaired loans based on the fair value of the collateral less selling costs and $2.1 million of impaired loans using discounted cash flows and the loan’s initial contractual effective interest rate. Impaired loans totaling $8.8 million, which individually were less than $250 thousand each, were measured through the general ALL reserves due to their relatively small size. Impaired loans acquired from Peoples totaling $8.4 million were marked to fair value at the date of acquisition.
At June 30, 2018 and December 31, 2017, the Company’s recorded investment in impaired loans were $34.8 million and $30.9 million, respectively, of which $6.9 million and $8.5 million, respectively, were accruing TDRs. Impaired loans at June 30, 2018 were primarily comprised of eight relationships totaling $14.3 million. Three of the relationships were in the commercial and industrial sector totaling $6.1 million, two of the relationships were in the owner-occupied commercial real estate sector totaling $4.8 million, one of the relationships was in the agricultural sector totaling $1.3 million, one of the relationships was in the energy sector totaling $1.1 million and one of the relationships was in the construction sector totaling $1.0 million. Impaired loans had a collective related allowance for loan losses allocated to them of $1.2 million and $1.5 million at June 30, 2018 and December 31, 2017, respectively.
Additional information regarding impaired loans at June 30, 2018 and December 31, 2017 is set forth in the table below:
June 30, 2018
December 31, 2017
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
$
5,719
$
4,209
$
—
$
6,481
$
5,055
$
—
Owner occupied commercial real estate
7,063
6,698
—
4,186
3,934
—
Agriculture
1,508
1,259
—
1,502
1,245
—
Energy
6,642
1,923
—
8,661
3,861
—
Total commercial
20,932
14,089
—
20,830
14,095
—
Commercial real estate non-owner occupied:
Construction
1,307
1,082
—
215
179
—
Acquisition/development
1,065
824
—
—
—
—
Multifamily
—
—
—
29
29
—
Non-owner occupied
648
569
—
901
853
—
Total commercial real estate
3,020
2,475
—
1,145
1,061
—
Residential real estate:
Senior lien
3,075
2,781
—
333
309
—
Junior lien
414
353
—
—
—
—
Total residential real estate
3,489
3,134
—
333
309
—
Consumer
47
43
—
—
—
—
Total impaired loans with no related allowance recorded
$
27,488
$
19,741
$
—
$
22,308
$
15,465
$
—
With a related allowance recorded:
Commercial:
Commercial and industrial
$
7,147
$
4,539
$
907
$
7,919
$
5,339
$
1,329
Owner occupied commercial real estate
1,400
1,222
80
873
713
4
Agriculture
2,229
2,186
218
2,122
2,083
133
Energy
—
—
—
—
—
—
Total commercial
10,776
7,947
1,205
10,914
8,135
1,466
Commercial real estate non-owner occupied:
Construction
—
—
—
—
—
—
Acquisition/development
—
—
—
—
—
—
Multifamily
—
—
—
—
—
—
Non-owner occupied
347
293
2
207
200
1
Total commercial real estate
347
293
2
207
200
1
Residential real estate:
Senior lien
6,509
5,672
25
6,481
5,753
24
Junior lien
1,308
1,169
7
1,295
1,179
8
Total residential real estate
7,817
6,841
32
7,776
6,932
32
Consumer
—
—
—
146
141
1
Total impaired loans with a related allowance recorded
$
18,940
$
15,081
$
1,239
$
19,043
$
15,408
$
1,500
Total impaired loans
$
46,428
$
34,822
$
1,239
$
41,351
$
30,873
$
1,500
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, 2018
June 30, 2017
Average
Interest
Average
Interest
With no related allowance recorded:
Commercial:
Commercial and industrial
$
5,321
$
90
$
6,645
$
25
Owner occupied commercial real estate
6,723
17
3,789
23
Agriculture
1,259
—
1,454
—
Energy
1,843
17
5,680
—
Total commercial
15,147
124
17,568
48
Commercial real estate non-owner occupied:
Construction
1,081
—
—
—
Acquisition/development
827
—
—
—
Multifamily
—
—
—
—
Non-owner occupied
574
—
312
5
Total commercial real estate
2,481
—
312
5
Residential real estate:
Senior lien
2,818
—
330
—
Junior lien
354
—
—
—
Total residential real estate
3,172
—
330
—
Consumer
14
—
—
—
Total impaired loans with no related allowance recorded
$
20,815
$
124
$
18,210
$
53
With a related allowance recorded:
Commercial:
Commercial and industrial
$
4,607
$
—
$
4,643
$
—
Owner occupied commercial real estate
1,233
4
2,340
7
Agriculture
2,142
1
912
1
Energy
—
—
6,624
—
Total commercial
7,982
5
14,519
8
Commercial real estate non-owner occupied:
Construction
—
—
—
—
Acquisition/development
—
—
—
—
Multifamily
9
—
31
—
Non-owner occupied
297
5
216
2
Total commercial real estate
306
5
247
2
Residential real estate:
Senior lien
5,744
13
6,525
20
Junior lien
1,187
11
1,403
12
Total residential real estate
6,931
23
7,928
32
Consumer
31
—
169
—
Total impaired loans with a related allowance recorded
$
15,250
$
33
$
22,863
$
42
Total impaired loans
$
36,065
$
158
$
41,073
$
95
For the six months ended
June 30, 2018
June 30, 2017
Average
Interest
Average
Interest
With no related allowance recorded:
Commercial:
Commercial and industrial
$
5,565
$
173
$
7,030
$
73
Owner occupied commercial real estate
6,793
35
3,834
41
Agriculture
1,259
6
1,531
—
Energy
2,098
37
5,889
—
Total Commercial
15,715
251
18,284
114
Commercial real estate non-owner occupied:
Construction
1,081
—
—
—
Acquisition/development
856
—
—
—
Multifamily
—
—
—
—
Non-owner occupied
591
—
320
12
Total commercial real estate
2,528
—
320
12
Residential real estate:
Senior lien
2,846
—
334
—
Junior lien
358
—
—
—
Total residential real estate
3,204
—
334
—
Consumer
14
—
—
—
Total impaired loans with no related allowance recorded
$
21,461
$
251
$
18,938
$
126
With a related allowance recorded:
Commercial:
Commercial and industrial
$
4,639
$
—
$
4,630
$
—
Owner occupied commercial real estate
1,249
9
2,349
11
Agriculture
2,084
2
914
3
Energy
—
—
6,602
—
Total Commercial
7,972
11
14,495
14
Commercial real estate non-owner occupied:
Construction
—
—
—
—
Acquisition/development
—
—
—
—
Multifamily
19
—
31
1
Non-owner occupied
308
9
220
5
Total commercial real estate
327
9
251
6
Residential real estate:
Senior lien
5,821
26
6,583
40
Junior lien
1,202
20
1,421
25
Total residential real estate
7,023
46
8,004
65
Consumer
32
—
175
—
Total impaired loans with a related allowance recorded
$
15,354
$
66
$
22,925
$
85
Total impaired loans
$
36,815
$
317
$
41,863
$
211
Interest income recognized on impaired loans noted in the table above primarily represents interest earned on accruing TDRs. Interest income recognized on impaired loans during the three months ended June 30, 2018 and 2017 was $0.2 million and $0.1 million, respectively. Interest income recognized on impaired loans during the six months ended June 30, 2018 and 2017 was $0.3 million and $0.2 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, 2018, the Company restructured four loans with a recorded investment of $0.9 million at June 30, 2018 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, 2018 and December 31, 2017:
June 30, 2018
Recorded
Average year-to-date
Unpaid
Unfunded commitments
investment
recorded investment
principal balance
to fund TDRs
Commercial
$
5,509
$
6,754
$
6,299
$
3,828
Commercial real estate non-owner occupied
266
278
311
—
Residential real estate
1,165
1,190
1,172
12
Consumer
—
—
—
—
Total
$
6,940
$
8,222
$
7,782
$
3,840
December 31, 2017
Recorded
Average year-to-date
Unpaid
Unfunded commitments
investment
recorded investment
principal balance
to fund TDRs
Commercial
$
6,595
$
7,308
$
7,171
$
2,041
Commercial real estate non-owner occupied
455
489
500
—
Residential real estate
1,409
1,461
1,420
2
Consumer
1
3
1
—
Total
$
8,460
$
9,261
$
9,092
$
2,043
The following table summarizes the Company’s carrying value of non-accrual TDRs as of June 30, 2018 and December 31, 2017:
June 30, 2018
December 31, 2017
Commercial
$
2,698
$
5,808
Commercial real estate non-owner occupied
—
—
Residential real estate
1,264
1,336
Consumer
—
111
Total non-accruing TDRs
$
3,962
$
7,255
At June 30, 2018 and December 31, 2017, the Company had $6.9 million and $8.5 million, respectively, of accruing TDRs that had been restructured from the original terms in order to facilitate repayment.
Accrual of interest is resumed on loans that were previously on non-accrual only after the loan has performed sufficiently. The Company had one TDR that was modified within the past twelve months and had defaulted on its restructured terms during the six months ended June 30, 2018. The defaulted TDR consisted of one commercial real estate non-owner occupied loan totaling $0.2 million. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due on principal or interest. Non-accruing TDRs decreased $3.3 million from December 31, 2017 due to charge-offs within the commercial loan segment. 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.
During the three and six months ended June 30, 2017, the Company had three and five TDRs that had been modified within the past 12 months that defaulted on their restructured terms, respectively.
Loans accounted for under ASC 310-30
Loan pools accounted for under ASC Topic 310-30 are periodically re-measured 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 re-measurement 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, 2018 and 2017:
June 30, 2018
June 30, 2017
Accretable yield beginning balance
$
46,568
$
60,476
Reclassification from non-accretable difference
8,053
7,732
Reclassification to non-accretable difference
(1,695)
(494)
Accretion
(10,224)
(12,051)
Accretable yield ending balance
$
42,702
$
55,663
Below is the composition of the net book value for loans accounted for under ASC 310-30 at June 30, 2018 and December 31, 2017:
June 30, 2018
December 31, 2017
Contractual cash flows
$
442,000
$
489,892
Non-accretable difference
(316,344)
(322,701)
Accretable yield
(42,702)
(46,568)
Loans accounted for under ASC 310-30
$
82,954
$
120,623" id="sjs-B4">Note 5 Loans The loan portfolio is comprised of loans originated by the Company and loans that were acquired in connection with the Company’s acquisitions. Beginning in the first quarter 2018, loans previously referred to as "non 310-30 loans" are referred to as "originated and acquired loans," which include originated loans as well as acquired loans not accounted for under ASC 310-30. No amounts were reclassified resulting from this change in terminology. The tables below show the loan portfolio composition including carrying value by segment of originated and acquired loans and loans accounted for under ASC Topic 310-30, Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality , as of the dates shows. The carrying value of originated and acquired loans is net of discounts, fees, costs and fair value marks of $9.8 million and $4.3 million as of June 30, 2018 and December 31, 2017, respectively. June 30, 2018 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,295,041 $ 23,078 $ 2,318,119 Commercial real estate non-owner occupied 594,740 48,411 643,151 Residential real estate 826,670 11,365 838,035 Consumer 26,150 100 26,250 Total $ 3,742,601 $ 82,954 $ 3,825,555 December 31, 2017 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 1,845,130 $ 29,475 $ 1,874,605 Commercial real estate non-owner occupied 485,141 77,908 563,049 Residential real estate 703,478 12,759 716,237 Consumer 24,575 481 25,056 Total $ 3,058,324 $ 120,623 $ 3,178,947 Delinquency for originated and acquired loans is shown in the following tables at June 30, 2018 and December 31, 2017: June 30, 2018 Greater Total Loans > 90 30-59 60-89 than 90 originated and days past days past days past days past Total past acquired due and Non- due due due due Current loans still accruing accrual Originated and acquired loans: Commercial: Commercial and industrial $ 1,765 $ 2,644 $ 2,305 $ 6,714 $ 1,673,659 $ 1,680,373 $ 40 $ 5,545 Owner occupied commercial real estate 1,465 471 2,287 4,223 378,428 382,651 460 6,479 Agriculture 194 217 718 1,129 193,667 194,796 — 2,108 Energy — — 796 796 36,425 37,221 — 796 Total commercial 3,424 3,332 6,106 12,862 2,282,179 2,295,041 500 14,928 Commercial real estate non-owner occupied: Construction 1,208 — 1,080 2,288 92,169 94,457 — 1,080 Acquisition/development — 17 — 17 23,574 23,591 — 824 Multifamily — — — — 63,483 63,483 — — Non-owner occupied 19 332 142 493 412,716 413,209 142 597 Total commercial real estate 1,227 349 1,222 2,798 591,942 594,740 142 2,501 Residential real estate: Senior lien 2,733 1,777 2,426 6,936 719,540 726,476 366 7,372 Junior lien 982 49 191 1,222 98,972 100,194 16 792 Total residential real estate 3,715 1,826 2,617 8,158 818,512 826,670 382 8,164 Consumer 278 94 98 470 25,680 26,150 80 42 Total originated and acquired loans $ 8,644 $ 5,601 $ 10,043 $ 24,288 $ 3,718,313 $ 3,742,601 $ 1,104 $ 25,635 December 31, 2017 Greater Total Loans > 90 30-59 60-89 than 90 originated and days past days past days past days past Total past acquired due and Non- due due due due Current loans still accruing accrual Originated and acquired loans: Commercial: Commercial and industrial $ 554 $ 117 $ 1,389 $ 2,060 $ 1,373,962 $ 1,376,022 $ 150 $ 7,767 Owner occupied commercial real estate 696 — 1,983 2,679 270,074 272,753 — 3,478 Agriculture 585 — 701 1,286 137,609 138,895 — 2,003 Energy — — 1,645 1,645 55,815 57,460 — 1,645 Total commercial 1,835 117 5,718 7,670 1,837,460 1,845,130 150 14,893 Commercial real estate non-owner occupied: Construction — — 179 179 107,502 107,681 — 179 Acquisition/development 1,097 — — 1,097 13,318 14,415 — — Multifamily — — — — 26,947 26,947 — — Non-owner occupied 56 — 574 630 335,468 336,098 — 605 Total commercial real estate 1,153 — 753 1,906 483,235 485,141 — 784 Residential real estate: Senior lien 1,167 885 1,396 3,448 643,034 646,482 — 4,724 Junior lien 233 91 41 365 56,631 56,996 — 459 Total residential real estate 1,400 976 1,437 3,813 699,665 703,478 — 5,183 Consumer 157 6 5 168 24,407 24,575 — 140 Total originated and acquired loans $ 4,545 $ 1,099 $ 7,913 $ 13,557 $ 3,044,767 $ 3,058,324 $ 150 $ 21,000 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 $25.6 million at June 30, 2018, increasing $4.6 million, or 22.1% from December 31, 2017, due to the Peoples acquisition. The Company’s internal risk rating system uses a series of grades that reflect its 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. Loans that are perceived to have acceptable risk are categorized as “Pass” loans. “Special mention” loans represent loans that have potential credit weaknesses that deserve close attention. Special mention loans include borrowers that have potential weaknesses or unwarranted risks that, unless corrected, may threaten the borrower's ability to meet debt service requirements. However, these borrowers are still believed to have the ability to respond to and resolve the financial issues that threaten their financial situation. Loans classified as “Substandard” have a well-defined credit weakness and are inadequately protected by the current paying capacity of the obligor or of the collateral pledged, if any. Although these loans are identified as potential problem loans, they may never become non-performing. Substandard loans have a distinct possibility of loss if the deficiencies are not corrected. “Doubtful” loans are loans that management believes the collection of payments in accordance with the terms of the loan agreement are highly questionable and improbable. Doubtful loans are deemed impaired and put on non-accrual status. Credit exposure for all loans as determined by the Company’s internal risk rating system was as follows as of June 30, 2018 and December 31, 2017, respectively: June 30, 2018 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,649,254 $ 12,988 $ 17,232 $ 899 $ 1,680,373 Owner occupied commercial real estate 346,325 26,910 9,341 75 382,651 Agriculture 189,923 2,765 1,890 218 194,796 Energy 36,425 — 796 — 37,221 Total commercial 2,221,927 42,663 29,259 1,192 2,295,041 Commercial real estate non-owner occupied: Construction 93,377 — 1,080 — 94,457 Acquisition/development 22,767 — 824 — 23,591 Multifamily 63,483 — — — 63,483 Non-owner occupied 395,921 15,641 1,647 — 413,209 Total commercial real estate 575,548 15,641 3,551 — 594,740 Residential real estate: Senior lien 713,175 5,338 7,963 — 726,476 Junior lien 98,623 504 1,067 — 100,194 Total residential real estate 811,798 5,842 9,030 — 826,670 Consumer 26,107 1 42 — 26,150 Total originated and acquired loans $ 3,635,380 $ 64,147 $ 41,882 $ 1,192 $ 3,742,601 Loans accounted for under ASC 310-30: Commercial $ 18,610 $ 1,051 $ 3,417 $ — $ 23,078 Commercial real estate non-owner occupied 46,291 950 1,165 — 48,406 Residential real estate 8,860 947 1,558 — 11,365 Consumer — — 105 — 105 Total loans accounted for under ASC 310-30 $ 73,761 $ 2,948 $ 6,245 $ — $ 82,954 Total loans $ 3,709,141 $ 67,095 $ 48,127 $ 1,192 $ 3,825,555 December 31, 2017 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,349,116 $ 10,829 $ 14,824 $ 1,253 $ 1,376,022 Owner occupied commercial real estate 250,224 17,030 5,424 75 272,753 Agriculture 118,068 18,824 1,870 133 138,895 Energy 55,814 — 1,646 — 57,460 Total commercial 1,773,222 46,683 23,764 1,461 1,845,130 Commercial real estate non-owner occupied: Construction 107,502 — 179 — 107,681 Acquisition/development 14,415 — — — 14,415 Multifamily 24,817 — 2,130 — 26,947 Non-owner occupied 333,225 1,396 1,477 — 336,098 Total commercial real estate 479,959 1,396 3,786 — 485,141 Residential real estate: Senior lien 641,294 91 5,097 — 646,482 Junior lien 56,172 — 824 — 56,996 Total residential real estate 697,466 91 5,921 — 703,478 Consumer 24,432 1 142 — 24,575 Total originated and acquired loans $ 2,975,079 $ 48,171 $ 33,613 $ 1,461 $ 3,058,324 Loans accounted for under ASC 310-30: Commercial $ 23,954 $ 1,070 $ 4,451 $ — $ 29,475 Commercial real estate non-owner occupied 50,537 883 26,488 — 77,908 Residential real estate 10,072 1,055 1,632 — 12,759 Consumer 327 9 145 — 481 Total loans accounted for under ASC 310-30 $ 84,890 $ 3,017 $ 32,716 $ — $ 120,623 Total loans $ 3,059,969 $ 51,188 $ 66,329 $ 1,461 $ 3,178,947 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, 2018, the Company measured $15.5 million of impaired loans based on the fair value of the collateral less selling costs and $2.1 million of impaired loans using discounted cash flows and the loan’s initial contractual effective interest rate. Impaired loans totaling $8.8 million, which individually were less than $250 thousand each, were measured through the general ALL reserves due to their relatively small size. Impaired loans acquired from Peoples totaling $8.4 million were marked to fair value at the date of acquisition. At June 30, 2018 and December 31, 2017, the Company’s recorded investment in impaired loans were $34.8 million and $30.9 million, respectively, of which $6.9 million and $8.5 million, respectively, were accruing TDRs. Impaired loans at June 30, 2018 were primarily comprised of eight relationships totaling $14.3 million. Three of the relationships were in the commercial and industrial sector totaling $6.1 million, two of the relationships were in the owner-occupied commercial real estate sector totaling $4.8 million, one of the relationships was in the agricultural sector totaling $1.3 million, one of the relationships was in the energy sector totaling $1.1 million and one of the relationships was in the construction sector totaling $1.0 million. Impaired loans had a collective related allowance for loan losses allocated to them of $1.2 million and $1.5 million at June 30, 2018 and December 31, 2017, respectively. Additional information regarding impaired loans at June 30, 2018 and December 31, 2017 is set forth in the table below: June 30, 2018 December 31, 2017 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 $ 5,719 $ 4,209 $ — $ 6,481 $ 5,055 $ — Owner occupied commercial real estate 7,063 6,698 — 4,186 3,934 — Agriculture 1,508 1,259 — 1,502 1,245 — Energy 6,642 1,923 — 8,661 3,861 — Total commercial 20,932 14,089 — 20,830 14,095 — Commercial real estate non-owner occupied: Construction 1,307 1,082 — 215 179 — Acquisition/development 1,065 824 — — — — Multifamily — — — 29 29 — Non-owner occupied 648 569 — 901 853 — Total commercial real estate 3,020 2,475 — 1,145 1,061 — Residential real estate: Senior lien 3,075 2,781 — 333 309 — Junior lien 414 353 — — — — Total residential real estate 3,489 3,134 — 333 309 — Consumer 47 43 — — — — Total impaired loans with no related allowance recorded $ 27,488 $ 19,741 $ — $ 22,308 $ 15,465 $ — With a related allowance recorded: Commercial: Commercial and industrial $ 7,147 $ 4,539 $ 907 $ 7,919 $ 5,339 $ 1,329 Owner occupied commercial real estate 1,400 1,222 80 873 713 4 Agriculture 2,229 2,186 218 2,122 2,083 133 Energy — — — — — — Total commercial 10,776 7,947 1,205 10,914 8,135 1,466 Commercial real estate non-owner occupied: Construction — — — — — — Acquisition/development — — — — — — Multifamily — — — — — — Non-owner occupied 347 293 2 207 200 1 Total commercial real estate 347 293 2 207 200 1 Residential real estate: Senior lien 6,509 5,672 25 6,481 5,753 24 Junior lien 1,308 1,169 7 1,295 1,179 8 Total residential real estate 7,817 6,841 32 7,776 6,932 32 Consumer — — — 146 141 1 Total impaired loans with a related allowance recorded $ 18,940 $ 15,081 $ 1,239 $ 19,043 $ 15,408 $ 1,500 Total impaired loans $ 46,428 $ 34,822 $ 1,239 $ 41,351 $ 30,873 $ 1,500 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, 2018 June 30, 2017 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 5,321 $ 90 $ 6,645 $ 25 Owner occupied commercial real estate 6,723 17 3,789 23 Agriculture 1,259 — 1,454 — Energy 1,843 17 5,680 — Total commercial 15,147 124 17,568 48 Commercial real estate non-owner occupied: Construction 1,081 — — — Acquisition/development 827 — — — Multifamily — — — — Non-owner occupied 574 — 312 5 Total commercial real estate 2,481 — 312 5 Residential real estate: Senior lien 2,818 — 330 — Junior lien 354 — — — Total residential real estate 3,172 — 330 — Consumer 14 — — — Total impaired loans with no related allowance recorded $ 20,815 $ 124 $ 18,210 $ 53 With a related allowance recorded: Commercial: Commercial and industrial $ 4,607 $ — $ 4,643 $ — Owner occupied commercial real estate 1,233 4 2,340 7 Agriculture 2,142 1 912 1 Energy — — 6,624 — Total commercial 7,982 5 14,519 8 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily 9 — 31 — Non-owner occupied 297 5 216 2 Total commercial real estate 306 5 247 2 Residential real estate: Senior lien 5,744 13 6,525 20 Junior lien 1,187 11 1,403 12 Total residential real estate 6,931 23 7,928 32 Consumer 31 — 169 — Total impaired loans with a related allowance recorded $ 15,250 $ 33 $ 22,863 $ 42 Total impaired loans $ 36,065 $ 158 $ 41,073 $ 95 For the six months ended June 30, 2018 June 30, 2017 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 5,565 $ 173 $ 7,030 $ 73 Owner occupied commercial real estate 6,793 35 3,834 41 Agriculture 1,259 6 1,531 — Energy 2,098 37 5,889 — Total Commercial 15,715 251 18,284 114 Commercial real estate non-owner occupied: Construction 1,081 — — — Acquisition/development 856 — — — Multifamily — — — — Non-owner occupied 591 — 320 12 Total commercial real estate 2,528 — 320 12 Residential real estate: Senior lien 2,846 — 334 — Junior lien 358 — — — Total residential real estate 3,204 — 334 — Consumer 14 — — — Total impaired loans with no related allowance recorded $ 21,461 $ 251 $ 18,938 $ 126 With a related allowance recorded: Commercial: Commercial and industrial $ 4,639 $ — $ 4,630 $ — Owner occupied commercial real estate 1,249 9 2,349 11 Agriculture 2,084 2 914 3 Energy — — 6,602 — Total Commercial 7,972 11 14,495 14 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily 19 — 31 1 Non-owner occupied 308 9 220 5 Total commercial real estate 327 9 251 6 Residential real estate: Senior lien 5,821 26 6,583 40 Junior lien 1,202 20 1,421 25 Total residential real estate 7,023 46 8,004 65 Consumer 32 — 175 — Total impaired loans with a related allowance recorded $ 15,354 $ 66 $ 22,925 $ 85 Total impaired loans $ 36,815 $ 317 $ 41,863 $ 211 Interest income recognized on impaired loans noted in the table above primarily represents interest earned on accruing TDRs. Interest income recognized on impaired loans during the three months ended June 30, 2018 and 2017 was $0.2 million and $0.1 million, respectively. Interest income recognized on impaired loans during the six months ended June 30, 2018 and 2017 was $0.3 million and $0.2 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, 2018, the Company restructured four loans with a recorded investment of $0.9 million at June 30, 2018 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, 2018 and December 31, 2017: June 30, 2018 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 5,509 $ 6,754 $ 6,299 $ 3,828 Commercial real estate non-owner occupied 266 278 311 — Residential real estate 1,165 1,190 1,172 12 Consumer — — — — Total $ 6,940 $ 8,222 $ 7,782 $ 3,840 December 31, 2017 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 6,595 $ 7,308 $ 7,171 $ 2,041 Commercial real estate non-owner occupied 455 489 500 — Residential real estate 1,409 1,461 1,420 2 Consumer 1 3 1 — Total $ 8,460 $ 9,261 $ 9,092 $ 2,043 The following table summarizes the Company’s carrying value of non-accrual TDRs as of June 30, 2018 and December 31, 2017: June 30, 2018 December 31, 2017 Commercial $ 2,698 $ 5,808 Commercial real estate non-owner occupied — — Residential real estate 1,264 1,336 Consumer — 111 Total non-accruing TDRs $ 3,962 $ 7,255 At June 30, 2018 and December 31, 2017, the Company had $6.9 million and $8.5 million, respectively, of accruing TDRs that had been restructured from the original terms in order to facilitate repayment. Accrual of interest is resumed on loans that were previously on non-accrual only after the loan has performed sufficiently. The Company had one TDR that was modified within the past twelve months and had defaulted on its restructured terms during the six months ended June 30, 2018. The defaulted TDR consisted of one commercial real estate non-owner occupied loan totaling $0.2 million. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due on principal or interest. Non-accruing TDRs decreased $3.3 million from December 31, 2017 due to charge-offs within the commercial loan segment. 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. During the three and six months ended June 30, 2017, the Company had three and five TDRs that had been modified within the past 12 months that defaulted on their restructured terms, respectively. Loans accounted for under ASC 310-30 Loan pools accounted for under ASC Topic 310-30 are periodically re-measured 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 re-measurement 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, 2018 and 2017: June 30, 2018 June 30, 2017 Accretable yield beginning balance $ 46,568 $ 60,476 Reclassification from non-accretable difference 8,053 7,732 Reclassification to non-accretable difference (1,695) (494) Accretion (10,224) (12,051) Accretable yield ending balance $ 42,702 $ 55,663 Below is the composition of the net book value for loans accounted for under ASC 310-30 at June 30, 2018 and December 31, 2017: June 30, 2018 December 31, 2017 Contractual cash flows $ 442,000 $ 489,892 Non-accretable difference (316,344) (322,701) Accretable yield (42,702) (46,568) Loans accounted for under ASC 310-30 $ 82,954 $ 120,623 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 6 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, 2018 and 2017: 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 Three months ended June 30, 2017 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 20,539 $ 5,815 $ 4,216 $ 280 $ 30,850 Originated and acquired beginning balance 20,539 5,599 4,216 276 30,630 Charge-offs — — (2) (119) (121) Recoveries 30 10 110 55 205 Provision 4,087 191 (257) 82 4,103 Originated and acquired ending balance 24,656 5,800 4,067 294 34,817 ASC 310-30 beginning balance — 216 — 4 220 Charge-offs — — — — — Recoveries — — — — — (Recoupment) provision — (82) — 4 (78) ASC 310-30 ending balance — 134 — 8 142 Ending balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 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 Six months ended June 30, 2017 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 18,821 $ 5,642 $ 4,387 $ 324 $ 29,174 Originated and acquired beginning balance 18,821 5,422 4,387 319 28,949 Charge-offs (20) — (10) (301) (331) Recoveries 41 20 113 122 296 Provision 5,814 358 (423) 154 5,903 Originated and acquired ending balance 24,656 5,800 4,067 294 34,817 ASC 310-30 beginning balance — 220 — 5 225 Charge-offs — — — — — Recoveries — — — — — (Recoupment) provision — (86) — 3 (83) ASC 310-30 ending balance — 134 — 8 142 Ending balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 6,197 $ 1 $ 45 $ 1 $ 6,244 Originated and acquired loans collectively evaluated for impairment 18,459 5,799 4,022 293 28,573 ASC 310-30 loans — 134 — 8 142 Total ending allowance balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 Loans: Originated and acquired loans individually evaluated for impairment $ 30,458 $ 551 $ 8,205 $ 165 $ 39,379 Originated and acquired loans collectively evaluated for impairment 1,709,018 472,684 706,294 26,143 2,914,139 ASC 310-30 loans 35,978 83,785 14,012 652 134,427 Total loans $ 1,775,454 $ 557,020 $ 728,511 $ 26,960 $ 3,087,945 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, 2018 were $0.3 million and $0.9 million, respectively. Management's evaluation of credit quality resulted in a provision for originated and acquired loan losses of $1.7 million and $1.7 million during the three and six months ended June 30, 2018, respectively, for general reserves on loan growth. During the six months ended June 30, 2018, the Company re-estimated the expected cash flows of the loan pools accounted for under ASC 310-30. The re-measurement resulted in a provision of $150 thousand and $191 thousand for the three and six months ended June 30, 2018, respectively, driven by provision in the commercial segment. Net charge-offs on originated and acquired loans during the three and six months ended June 30, 2017 were $0.1 million and $0.0 million, respectively. Management’s evaluation resulted in a provision for loan losses on originated and acquired loans of $4.1 million and $5.9 million during the three and six months ended June 30, 2017, respectively. Provision for the three months ended June 30, 2017 included specific reserves of $2.1 million on one commercial loan and general reserves on net loan growth. Provision for the six months ended June 30, 2017 included specific reserves totaling $3.4 million on one energy sector loan and one commercial sector loan. During the six months ended June 30, 2017, the Company re-estimated the expected cash flows of the loan pools accounted for under ASC 310-30. The re-measurement resulted in a net recoupment of $78 thousand and $83 thousand for the three and six months ended June 30, 2017, respectively. The net recoupment was primarily due to a recoupment of $82 thousand in the non-owner occupied commercial real estate segment during the three months ended June 30, 2017, and primarily due to a recoupment of $86 thousand in the non-owner occupied commercial real estate segment for the six months ended June 30, 2017. |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2018 | |
FDIC Loss-Sharing Related | |
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, 2018 and 2017 is as follows: For the six months ended June 30, 2018 2017 Beginning balance $ 10,491 $ 15,662 Acquired through acquisition 1,253 — Transfers from loan portfolio, at fair value 24,382 639 Impairments (64) (46) Sales, net (593) (1,958) Ending balance $ 35,469 $ 14,297 The Company transferred one large acquired 310-30 problem loan to OREO totaling $24.1 million at June 30, 2018 as part of its asset resolution process. The Company did not have any minority interest in participated other real estate owned at June 30, 2018. At December 31, 2017, OREO balances excluded $0.7 million of the Company’s minority interests in OREO, which are held by outside banks where the Company was not the lead bank and did not have a controlling interest. The Company maintains a receivable in other assets for these minority interests. Included in Sales, net are net losses of $0.1 million and net gains of $1.8 million for the six months ended June 30, 2018 and 2017, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 8 Goodwill and Intangible Assets In connection with all of our acquisitions, the Company recorded goodwill of $115.0 million, core deposit intangible assets of $48.8 million and mortgage servicing rights of $4.3 million. In connection with the acquisition of Peoples completed in the first quarter of 2018, the Company recorded goodwill of $55.4 million, core deposit intangibles assets of $10.5 million and mortgage servicing rights of $4.3 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, 2018 or the year ended December 31, 2017. 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 $0.7 million and $1.4 million during the three and six months ended June 30, 2018, respectively, and $1.4 million and $2.7 million during the three and six months ended June 30, 2017, respectively. 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 $419.8 million at June 30, 2018 and $0.0 million at June 30, 2017. The gross carrying amount of the core deposit intangible and the associated accumulated amortization at June 30, 2018 and December 31, 2017, are presented as follows: June 30, 2018 December 31, 2017 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount Core deposit intangible $ 48,834 $ 38,056 $ 10,778 $ 38,357 $ 36,750 $ 1,607 Below are the changes in the mortgage servicing rights for the period presented: For the six months ended June 30, 2018 Beginning balance $ — Acquired through acquisition 4,301 Amortization (386) Ending balance $ 3,915 Fair value of mortgage servicing rights $ 4,473 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 during the three and six months ended June 30, 2018. 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 8.6% to 11.8% for the June 30, 2018 valuation. Mortgage servicing rights are evaluated for impairment and recognized through a valuation allowance 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. There was no valuation allowance at June 30, 2018. |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Repurchase Agreements [Abstract] | |
Borrowings | Note 9 Borrowings The Company enters into repurchase agreements to facilitate the needs of its clients. As of June 30, 2018 and December 31, 2017, the Company sold securities under agreements to repurchase totaling $73.4 million and $130.5 million, respectively, and none were for periods longer than one day. The Company pledged mortgage-backed securities with a fair value of approximately $76.2 million and $136.1 million as of June 30, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, the Company had $2.8 million and $5.7 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 $966.1 million at June 30, 2018. At June 30, 2018 and December 31, 2017, the Bank had $77.3 million and $129.1 million in term advances from the FHLB, respectively. The term advances have fixed interest rates of 1.55% - 2.33%, with maturity dates of 2018 - 2020. The Bank had investment securities pledged as collateral for FHLB advances in the amount of $26.1 million at June 30, 2018 and $28.1 million at December 31, 2017. Interest expense related to FHLB advances totaled $0.6 million and $1.1 million for the three and six months ended June 30, 2018, respectively, and $0.5 million and $0.7 million for the three and six months ended June 30, 2017, respectively. |
Revenue from Contracts with Cli
Revenue from Contracts with Clients | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contracts with Clients | |
Revenue from Contracts with Clients | Note 11 Revenue from Contracts with Clients On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (Topic 606) and all subsequent ASUs that modified Topic 606. As stated in Note 2, Recent A ccounting Pronouncements, the implementation of the new standard did not have a material impact on the measurement or recognition of revenue; as such, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts were not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, and derivatives are also not in scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, and merchant income. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below. 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 wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to clients’ accounts. 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. Loss (gain) on OREO Sales, net Loss (gain) 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, 2018 and 2017. For the three months ended June 30, For the six months ended June 30, 2018 2017 2018 2017 Non-interest income In-scope of Topic 606: Service Charges and other fees $ 5,008 $ 3,899 $ 10,183 $ 7,665 Bank card fees 3,672 3,134 7,034 5,938 Gain on banking center divestiture — 2,942 — 2,942 Non-interest income (in-scope of Topic 606) 8,680 9,975 17,217 16,545 Non-interest income (out-of-scope of Topic 606) 10,882 1,981 20,181 4,107 Total non-interest income $ 19,562 $ 11,956 $ 37,398 $ 20,652 Non-interest expense In-scope of Topic 606: Loss (gain) on OREO sales, net (14) (1,644) 64 (1,756) Total revenue in-scope of Topic 606 $ 8,666 $ 8,331 $ 17,281 $ 14,789 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 noninterest 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, 2018 and December 31, 2017, 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. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost. |
Stock-based Compensation and Be
Stock-based Compensation and Benefits | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
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 issued stock options during the six months ended June 30, 2018 and 2017, 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 1-4 years of continuous service and have 7-10 year contractual terms. The following table summarizes stock option activity for the six months ended June 30, 2018: Weighted average Weighted remaining average contractual Aggregate exercise term in intrinsic Options price years value Outstanding at December 31, 2017 1,598,318 $ 20.62 4.07 $ 19,017 Granted 151,937 32.80 Exercised (441,161) 19.90 Forfeited (17,103) 28.57 Outstanding at June 30, 2018 1,291,991 22.20 4.39 21,181 Options exercisable at June 30, 2018 1,039,372 20.16 3.25 19,161 Options vested and expected to vest 1,259,359 21.94 4.26 20,965 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, 2018 and 2017, respectively, and $0.4 million and $0.4 million for the six months ended June 30, 2018 and 2017, respectively. At June 30, 2018, 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 2.5 years. Restricted stock awards The Company issued time based restricted stock awards during the six months ended June 30, 2018 and 2017. The restricted stock awards 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. No market-based stock awards were granted during the six months ended June 30, 2018 or June 30, 2017. During the six months ended June 30, 2016, the Company granted market-based stock awards of 26,594 shares in accordance with the 2014 Plan. These shares have a five-year performance period and vest upon the later of the Company’s stock price achieving an established price goal during the performance period and the third anniversary of the date of grant. The $11.28 per share fair value of these awards was determined using a Monte Carlo Simulation at grant date. The market-based performance condition has been met for these awards and the total unrecognized compensation cost related to non-vested market-based stock awards totaled $0.1 million, and is expected to be recognized over a weighted average period of approximately 0.7 years. Performance stock units During the six months ended June 30, 2018 and 2017, the Company granted 77,125 and 49,758 performance stock units in accordance with the 2014 Plan, respectively. These performance stock units granted 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, 2018 of the EPS target portion and the TSR target portion was $32.65 and $27.51, respectively. The following table summarizes restricted stock and performance stock unit activity during the six months ended June 30, 2018: Weighted Weighted Restricted average grant- Performance average grant- stock shares date fair value stock units date fair value Unvested at December 31, 2017 163,557 $ 22.60 125,082 $ 23.90 Granted 85,754 33.41 77,125 30.38 Vested (80,092) 22.82 — — Forfeited (13,136) 29.08 (9,884) 26.11 Unvested at June 30, 2018 156,083 $ 27.88 192,323 $ 26.39 As of June 30, 2018, the total unrecognized compensation cost related to the non-vested restricted stock awards and performance stock units totaled $3.0 million and $3.3 million, respectively, and is expected to be recognized over a weighted average period of approximately 2.3 years and 2.2 years, respectively. Expense related to non-vested restricted stock awards totaled $0.6 million and $0.6 million during the three months ended June 30, 2018 and 2017, respectively, and $1.0 million and $1.2 million during the six months ended June 30, 2018 and 2017, respectively. Expense related to non-vested performance stock units totaled $0.4 million and $0.2 million during the three months ended June 30, 2018 and 2017, respectively, and $0.7 million and $0.4 million during the six months ended June 30, 2018 and 2017, 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 June 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 349,199 was available for issuance. Under the ESPP, employees purchased 5,960 shares during the six months ended June 30, 2018, respectively, and 5,373 shares during the six months ended June 30, 2017, respectively. |
Warrants
Warrants | 6 Months Ended |
Jun. 30, 2018 | |
Warrants and Rights Note Disclosure [Abstract] | |
Warrants | Note 13 Warrants During the first quarter of 2017, 250,750 warrants were exercised in a non-cash transaction, representing the remaining outstanding warrants. The warrants were granted to certain lead shareholders of the Company at the time of the Company’s initial capital raise (2009-2010), all with an exercise price of $20.00 per share. Refer to the consolidated statements of changes in shareholders’ equity for additional detail. |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Common Stock | Note 14 Common Stock The Company had 30,726,789 and 26,875,585 shares of Class A common stock outstanding at June 30, 2018 and December 31, 2017, respectively. Additionally, the Company had 156,083 and 163,557 shares outstanding at June 30, 2018 and December 31, 2017, respectively, of restricted Class A common stock issued but not yet vested under the 2014 Plan and the Prior 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, 2018 was $12.6 million. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Income Per Share | Note 15 Earnings Per Share The Company calculates earnings per share under the two-class method, as certain non-vested share awards contain non-forfeitable rights to dividends. As such, these awards are considered securities that participate in the earnings of the Company. Non-vested shares are discussed further in note 12. The Company had 30,726,789 and 26,788,833 shares of Class A common stock outstanding as of June 30, 2018 and 2017, respectively, exclusive of issued non-vested restricted shares. Certain stock options and non-vested restricted shares are potentially dilutive securities, but are not included in the calculation of diluted earnings per share because to do so would have been anti-dilutive for the three and six months ended June 30, 2018 and 2017. The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017: For the three months ended For the six months ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Net income $ 17,512 $ 9,209 $ 25,977 $ 17,467 Less: income allocated to participating securities (18) (14) (31) (30) Income allocated to common shareholders $ 17,494 $ 9,195 $ 25,946 $ 17,437 Weighted average shares outstanding for basic earnings per common share 30,735,427 26,955,187 30,615,226 26,878,904 Dilutive effect of equity awards 651,748 642,256 660,133 742,001 Dilutive effect of warrants — — — 16,627 Weighted average shares outstanding for diluted earnings per common share 31,387,175 27,597,443 31,275,359 27,637,532 Basic earnings per share $ 0.57 $ 0.34 $ 0.85 $ Diluted earnings per share $ 0.56 $ 0.33 $ 0.83 $ The Company had 1,291,991 and 1,683,867 outstanding stock options to purchase common stock at weighted average exercise prices of $22.20 and $20.61 per share at June 30, 2018 and 2017, respectively, which have time-vesting criteria, and as such, any dilution is derived only for the time frame in which the vesting criteria had been met and where the inclusion of those stock options is dilutive. Additionally, 250,750 warrants were exercised in a non-cash transaction during the first quarter of 2017, representing the remaining outstanding warrants to purchase shares of the Company’s common stock. The warrants had an exercise price of $20.00. The Company had 348,406 and 256,064 unvested restricted shares and units issued as of June 30, 2018 and 2017, respectively, which have performance, market and/or time-vesting criteria, and as such, any dilution is derived only for the time frame in which the vesting criteria had been met and where the inclusion of those restricted shares and units is dilutive. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 16 Income Taxes The effective income tax rate for the three and six months ended June 30, 2018 was 13.8% and 14.8%, respectively, compared to 19.1% and 5.1% for the three and six months ended June 30, 2017, calculated based on a full year forecast method. The tax expense recorded for the three and six months ended June 30, 2018 was lowered by a $0.8 million and $1.2 million discrete tax benefit from stock compensation activity during the respective periods. Without the discrete benefits, the three and six months ended June 30, 2018 effective tax rate was 17.7% and 18.6%, respectively. The tax expense recorded for the three and six months ended June 30, 2017 was lowered by a $0.5 million and $3.4 million tax benefit from stock compensation activity. The quarterly tax rate differs from the federal statutory rate primarily due to tax benefits from stock compensation activity, interest income from tax-exempt lending, bank-owned life insurance income, and the relationship of these items to pre-tax income. See management’s discussion and analysis for further information. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Note 17 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, 2018 and December 31, 2017. Information about the valuation methods used to measure fair value is provided in note 19. Asset derivatives fair value Liability derivatives fair value Balance Sheet June 30, December 31, Balance Sheet June 30, December 31, location 2018 2017 location 2018 2017 Derivatives designated as hedging instruments: Interest rate products Other assets $ 26,667 $ 10,489 Other liabilities $ 3 $ 1,167 Total derivatives designated as hedging instruments $ 26,667 $ 10,489 $ 3 $ 1,167 Derivatives not designated as hedging instruments: Interest rate products Other assets $ 4,014 $ 2,483 Other liabilities $ 3,992 $ 2,584 Interest rate lock commitments Other assets 1,466 128 Other liabilities 252 — Forward contracts Other assets 25 5 Other liabilities 538 7 Total derivatives not designated as hedging instruments $ 5,505 $ 2,616 $ 4,782 $ 2,591 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, 2018, the Company had interest rate swaps with a notional amount of $468.1 million, which were designated as fair value hedges of interest rate risk. These interest rate swaps were associated with $506.5 million of the Company’s fixed-rate loans, before a $(27.0) million fair value hedge adjustment in the carrying amount, included in loans receivable on the statements of financial condition. As of December 31, 2017, the Company had interest rate swaps with a notional amount of $417.7 million that were designated as fair value hedges. 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, 2018, the Company had matched interest rate swap transactions with an aggregate notional amount of $174.0 million related to this program. As of December 31, 2017, the Company had matched interest rate swap transactions with an aggregate notional amount of $202.2 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 recognized in current earnings during the period of change. The Company had interest rate lock commitments with a notional value of $113.5 million and forward contracts with a notional value of $178.7 million at June 30, 2018. At December 31, 2017, the Company had interest rate lock commitments with a notional value of $8.0 million and forward contracts with a notional value of $9.0 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, 2018 and 2017: Location of gain (loss) Amount of gain (loss) 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 2018 2017 2018 2017 Interest rate products Interest and fees on loans $ 5,288 $ — $ 17,340 $ — Interest rate products Other non-interest income — (3,169) — (2,105) Total $ 5,288 $ (3,169) $ 17,340 $ (2,105) Location of gain (loss) Amount of gain (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 2018 2017 2018 2017 Interest rate products Interest and fees on loans $ (5,347) $ — $ (17,264) $ — Interest rate products Other non-interest income — 2,962 — 1,720 Total $ (5,347) $ 2,962 $ (17,264) $ 1,720 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 2018 2017 2018 2017 Interest rate products Other non-interest expense $ 3 $ (47) $ 124 $ (79) Interest rate lock commitments Mortgage banking income (517) (122) (141) 1 Forward contracts Mortgage banking income 305 63 1,413 (131) Total $ (209) $ (106) $ 1,396 $ (209) 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, 2018, the termination value of derivatives in a net liability position related to these agreements was $4.0 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, 2018 the Company had posted $0.2 million in eligible collateral. If the Company had breached any of these provisions at June 30, 2018, 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, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 18 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, 2018 and December 31, 2017, the Company had loan commitments totaling $764.6 million and $680.8 million, respectively, and standby letters of credit that totaled $8.3 million and $7.2 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, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Commitments to fund loans $ 231,844 $ 181,904 Unfunded commitments under lines of credit 532,778 498,857 Commercial and standby letters of credit 8,260 7,185 Total unfunded commitments $ 772,882 $ 687,946 Commitments to fund loans —Commitments to fund loans are legally binding agreements to lend to clients in accordance with predetermined contractual provisions providing there have been no violations of any conditions specified in the contract. These commitments are generally at variable interest rates and are for specific periods or contain termination clauses and may require the payment of a fee. The total amounts of unused commitments are not necessarily representative of future credit exposure or cash requirements, as commitments often expire without being drawn upon. Unfunded commitments under lines of credit —In the ordinary course of business, the Company extends revolving credit to its clients. These arrangements may require the payment of a fee. Commercial and standby letters of credit —As a provider of financial services, the Company routinely issues commercial and standby letters of credit, which may be financial standby letters of credit or performance standby letters of credit. These are various forms of “back-up” commitments to guarantee the performance of a client to a third party. While these arrangements represent a potential cash outlay for the Company, the majority of these letters of credit will expire without being drawn upon. Letters of credit are subject to the same underwriting and credit approval process as traditional loans, and as such, many of them have various forms of collateral securing the commitment, which may include real estate, personal property, receivables or marketable securities. 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 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 $4.0 million at June 30, 2018, which is included in other liabilities on the consolidated statements of financial condition. Contingencies 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, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 19 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 inputs to 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. Although, in some instances, third party price indications may be available, limited trading activity can challenge the observability of these quotations. 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, 2018 and 2017, 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 —Investment securities available-for-sale are carried at fair value on a recurring basis. To the extent possible, observable quoted prices in an active market are used to determine fair value and, as such, these securities are classified as level 1. At June 30, 2018 and December 31, 2017, the Company did not hold any level 1 securities. When quoted market prices in active markets for identical assets or liabilities are not available, quoted prices of securities with similar characteristics, discounted cash flows or other pricing characteristics are used to estimate fair values and the securities are then classified as level 2. Loans held for sale —The Company has elected to record loans originated and intended for sale in the secondary market at estimated fair value. The portfolio consists primarily of fixed rate residential mortgage loans that are sold within 45 days. The Company estimates fair value based on quoted market prices for similar loans in the secondary market and is classifies as Level 2. Interest rate swap derivatives —The Company's derivative instruments are limited to interest rate swaps that may be accounted for as fair value hedges or non-designated hedges. The fair values of the swaps incorporate credit valuation adjustments in order to appropriately reflect nonperformance risk in the fair value measurements. The credit valuation adjustment is the dollar amount of the fair value adjustment related to credit risk and utilizes a probability weighted calculation to quantify the potential loss over the life of the trade. The credit valuation adjustments are calculated by determining the total expected exposure of the derivatives (which incorporates both the current and potential future exposure) and then applying the respective counterparties’ credit spreads to the exposure offset by marketable collateral posted, if any. Certain derivative transactions are executed with counterparties who are large 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 —The Company relies on a third-party pricing service to value its mortgage banking derivative financial assets and liabilities, which the Company classifies as a level 3 valuation. The external valuation model to estimate the fair value of its interest rate lock commitments to originate residential mortgage loans held for sale includes grouping the interest rate lock commitments by interest rate and terms, applying an estimated pull-through rate based on historical experience, and then multiplying by quoted investor prices determined to be reasonably applicable to the loan commitment groups based on interest rate, terms, and rate lock expiration dates of the loan commitment groups. The Company also relies on an external 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, 2018 and December 31, 2017 on the consolidated statements of financial condition utilizing the hierarchy structure described above: June 30, 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 $ — $ 171,255 $ — $ 171,255 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 683,983 — 683,983 Municipal securities — 825 — 825 Loans held for sale — 113,057 — 113,057 Interest rate swap derivatives — 30,681 — 30,681 Mortgage banking derivatives — — 1,491 1,491 Total assets at fair value $ — $ 999,801 $ 1,491 $ 1,001,292 Liabilities: Interest rate swap derivatives $ — $ 3,995 $ — $ 3,995 Mortgage banking derivatives — — 790 Total liabilities at fair value $ — $ 3,995 $ 790 $ 4,785 December 31, 2017 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 $ — $ 168,648 $ — $ 168,648 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 685,230 — 685,230 Municipal securities — 829 — 829 Loans held for sale — 4,629 — 4,629 Interest rate swap derivatives — 12,972 — 12,972 Mortgage banking derivatives — — 133 Total assets at fair value $ — $ 872,308 $ 133 $ 872,441 Liabilities: Interest rate swap derivatives $ — $ 3,751 $ — $ 3,751 Mortgage banking derivatives — — 7 Total liabilities at fair value $ — $ 3,751 $ 7 $ 3,758 The table below details the changes in level 3 financial instruments during the six months ended June 30, 2018: Mortgage banking derivatives, net Balance at December 31, 2017 $ 126 Gain included in earnings, net 575 Balance at June 30, 2018 $ 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. The Company records collateral dependent loans that are considered to be impaired at their estimated fair value. A loan is considered impaired when it is probable that the Company will be unable to collect all contractual amounts due in accordance with the terms of the loan agreement. Collateral dependent impaired loans are measured based on the fair value of the collateral. The Company relies on third-party appraisals and internal assessments, utilizing a discount rate in the range of 0% - 25%, in determining the estimated fair values of these loans. The inputs used to determine the fair values of loans are considered level 3 inputs in the fair value hierarchy. At June 30, 2018, the Company measured six originated and acquired loans at fair value on a non-recurring basis, with a carrying balance of $6.3 million and specific reserve balance of $1.2 million. At June 30, 2017, the Company measured seven originated and acquired loans at fair value on a non-recurring basis, with a carrying balance of $14.5 million and specific reserve balance of $6.2 million. OREO is recorded at the lower of the cost basis or the fair value of the collateral less estimated selling costs. The estimated fair values of OREO are updated periodically and further write-downs may be taken to reflect a new basis. The Company recognized $64 thousand and $46 thousand of OREO impairments in its consolidated statements of operations during the six months ended June 30, 2018 and 2017, respectively. The fair values of OREO are derived from third party price opinions or appraisals that generally use an income approach or a market value approach. If reasonable comparable appraisals are not available, then the Company may use internally developed models to determine fair values. The inputs used to determine the fair values of OREO are considered level 3 inputs in the fair value hierarchy. M ortgage servicing rights represent the value associated with servicing residential real estate loans that have been sold to outside investors with servicing retained. The fair value for servicing assets is determined through discounted cash flow analysis and utilizes discount rates ranging from 9.5% to 10.5% at June 30, 2018 and prepayment speed assumption ranges of 8.6% to 11.8% at June 30, 2018 as inputs. Mortgage servicing rights are subject to impairment testing. The carrying values of these rights are reviewed quarterly for impairment based upon the calculation of fair value. For purposes of measuring impairment, the 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. There was no valuation allowance recorded at 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, 2018 and 2017: 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 June 30, 2017 Total Losses from fair value changes Impaired loans $ 39,379 $ 327 Other real estate owned 14,297 46 Total $ 53,676 $ 373 The Company did not record any liabilities measured at fair value on a non-recurring basis during the six months ended June 30, 2018. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 20 Fair Value of Financial Instruments The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal market at the measurement date under current market conditions. 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 notion set forth by ASU 2016-01 effective January 1, 2018 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, 2018 and December 31, 2017, including methods and assumptions utilized for determining fair value of financial instruments, are set forth below: Level in fair value June 30, 2018 December 31, 2017 measurement Carrying Estimated Carrying Estimated hierarchy amount fair value amount fair value ASSETS Cash and cash equivalents Level 1 $ 137,917 $ 137,917 $ 257,364 $ 257,364 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 171,255 171,255 168,648 168,648 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 683,983 683,983 685,230 685,230 Municipal securities Level 2 825 825 829 829 Municipal securities Level 3 219 219 219 219 Other available-for-sale securities Level 3 469 469 419 419 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 178,946 175,471 204,352 204,048 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 87,251 84,739 54,378 52,723 Non-marketable securities Level 2 20,070 20,070 15,030 15,030 Loans receivable Level 3 3,825,555 3,776,564 3,178,947 3,167,508 Loans held for sale Level 2 113,057 113,057 4,629 4,629 Accrued interest receivable Level 2 18,147 18,147 14,255 14,255 Interest rate swap derivatives Level 2 30,681 30,681 12,972 12,972 Mortgage banking derivatives Level 3 1,491 1,491 133 133 LIABILITIES Deposit transaction accounts Level 2 3,499,133 3,499,133 2,861,509 2,861,509 Time deposits Level 2 1,132,331 1,132,331 1,118,050 1,118,050 Securities sold under agreements to repurchase Level 2 73,441 73,441 130,463 130,463 Federal Home Loan Bank advances Level 2 188,334 188,579 129,115 130,300 Accrued interest payable Level 2 6,136 6,136 5,776 5,776 Interest rate swap derivatives Level 2 3,995 3,995 3,751 3,751 Mortgage banking derivatives Level 3 7 7 |
Investment Securities - (Tables
Investment Securities - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities | At June 30, 2018 and December 31, 2017, the Company held $856.8 million and $855.3 million of available-for-sale investment securities, respectively. Available-for-sale securities are summarized as follows as of the dates indicated: June 30, 2018 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 $ 172,595 $ 1,429 $ (2,769) $ 171,255 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 710,097 116 (26,230) 683,983 Municipal securities 1,054 — (10) 1,044 Other securities 469 — — 469 Total investment securities available-for-sale $ 884,215 $ 1,545 $ (29,009) $ 856,751 December 31, 2017 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 $ 167,269 $ 2,371 $ (992) $ 168,648 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 702,107 351 (17,228) 685,230 Municipal securities 1,054 — (6) 1,048 Other securities 419 — — 419 Total investment securities available-for-sale $ 870,849 $ 2,722 $ (18,226) $ 855,345 |
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, 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 $ 93,407 $ (1,923) $ 28,208 $ (846) $ 121,615 $ (2,769) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 297,510 (5,435) 361,595 (20,795) 659,105 (26,230) Municipal securities 510 (10) — — 510 (10) Total $ 391,427 $ (7,368) $ 389,803 $ (21,641) $ 781,230 $ (29,009) December 31, 2017 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 $ 62,178 $ (408) $ 36,086 $ (584) $ 98,264 $ (992) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 162,346 (830) 412,967 (16,398) 575,313 (17,228) Municipal securities 514 (6) — — 514 (6) Total $ 225,038 $ (1,244) $ 449,053 $ (16,982) $ 674,091 $ (18,226) |
Held-to-maturity Securities | Held-to-maturity investment securities are summarized as follows as of the dates indicated: June 30, 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 $ 178,946 $ 2 $ (3,477) $ 175,471 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 87,251 — (2,512) 84,739 Total investment securities held-to-maturity $ $ 2 $ (5,989) $ 260,210 December 31, 2017 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 $ 204,352 $ 151 $ (455) $ 204,048 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 54,378 — (1,655) 52,723 Total investment securities held-to-maturity $ 258,730 $ 151 $ (2,110) $ 256,771 |
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, 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 $ 158,592 $ (2,972) $ 15,245 $ (506) $ 173,837 $ (3,478) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 44,284 (414) 40,456 (2,097) 84,740 (2,511) Total $ 202,876 $ (3,386) $ 55,701 $ (2,603) $ 258,577 $ (5,989) December 31, 2017 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 $ 149,182 $ (220) $ 17,506 $ (235) $ 166,688 $ (455) Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises 6,460 (65) 46,264 (1,590) 52,724 (1,655) Total $ 155,642 $ (285) $ 63,770 $ (1,825) $ 219,412 $ (2,110) |
Loans - (Tables)
Loans - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loan Portfolio Composition Including Carrying Value by Segment of Loans Accounted for under ASC Topic 310-30 and Loans Covered by the FDIC Loss Sharing Agreements | The carrying value of originated and acquired loans is net of discounts, fees, costs and fair value marks of $9.8 million and $4.3 million as of June 30, 2018 and December 31, 2017, respectively. June 30, 2018 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 2,295,041 $ 23,078 $ 2,318,119 Commercial real estate non-owner occupied 594,740 48,411 643,151 Residential real estate 826,670 11,365 838,035 Consumer 26,150 100 26,250 Total $ 3,742,601 $ 82,954 $ 3,825,555 December 31, 2017 Originated and ASC acquired loans 310-30 loans Total loans % of total Commercial $ 1,845,130 $ 29,475 $ 1,874,605 Commercial real estate non-owner occupied 485,141 77,908 563,049 Residential real estate 703,478 12,759 716,237 Consumer 24,575 481 25,056 Total $ 3,058,324 $ 120,623 $ 3,178,947 |
Past Due Financing Receivables | Delinquency for originated and acquired loans is shown in the following tables at June 30, 2018 and December 31, 2017: June 30, 2018 Greater Total Loans > 90 30-59 60-89 than 90 originated and days past days past days past days past Total past acquired due and Non- due due due due Current loans still accruing accrual Originated and acquired loans: Commercial: Commercial and industrial $ 1,765 $ 2,644 $ 2,305 $ 6,714 $ 1,673,659 $ 1,680,373 $ 40 $ 5,545 Owner occupied commercial real estate 1,465 471 2,287 4,223 378,428 382,651 460 6,479 Agriculture 194 217 718 1,129 193,667 194,796 — 2,108 Energy — — 796 796 36,425 37,221 — 796 Total commercial 3,424 3,332 6,106 12,862 2,282,179 2,295,041 500 14,928 Commercial real estate non-owner occupied: Construction 1,208 — 1,080 2,288 92,169 94,457 — 1,080 Acquisition/development — 17 — 17 23,574 23,591 — 824 Multifamily — — — — 63,483 63,483 — — Non-owner occupied 19 332 142 493 412,716 413,209 142 597 Total commercial real estate 1,227 349 1,222 2,798 591,942 594,740 142 2,501 Residential real estate: Senior lien 2,733 1,777 2,426 6,936 719,540 726,476 366 7,372 Junior lien 982 49 191 1,222 98,972 100,194 16 792 Total residential real estate 3,715 1,826 2,617 8,158 818,512 826,670 382 8,164 Consumer 278 94 98 470 25,680 26,150 80 42 Total originated and acquired loans $ 8,644 $ 5,601 $ 10,043 $ 24,288 $ 3,718,313 $ 3,742,601 $ 1,104 $ 25,635 December 31, 2017 Greater Total Loans > 90 30-59 60-89 than 90 originated and days past days past days past days past Total past acquired due and Non- due due due due Current loans still accruing accrual Originated and acquired loans: Commercial: Commercial and industrial $ 554 $ 117 $ 1,389 $ 2,060 $ 1,373,962 $ 1,376,022 $ 150 $ 7,767 Owner occupied commercial real estate 696 — 1,983 2,679 270,074 272,753 — 3,478 Agriculture 585 — 701 1,286 137,609 138,895 — 2,003 Energy — — 1,645 1,645 55,815 57,460 — 1,645 Total commercial 1,835 117 5,718 7,670 1,837,460 1,845,130 150 14,893 Commercial real estate non-owner occupied: Construction — — 179 179 107,502 107,681 — 179 Acquisition/development 1,097 — — 1,097 13,318 14,415 — — Multifamily — — — — 26,947 26,947 — — Non-owner occupied 56 — 574 630 335,468 336,098 — 605 Total commercial real estate 1,153 — 753 1,906 483,235 485,141 — 784 Residential real estate: Senior lien 1,167 885 1,396 3,448 643,034 646,482 — 4,724 Junior lien 233 91 41 365 56,631 56,996 — 459 Total residential real estate 1,400 976 1,437 3,813 699,665 703,478 — 5,183 Consumer 157 6 5 168 24,407 24,575 — 140 Total originated and acquired loans $ 4,545 $ 1,099 $ 7,913 $ 13,557 $ 3,044,767 $ 3,058,324 $ 150 $ 21,000 |
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, 2018 and December 31, 2017, respectively: June 30, 2018 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,649,254 $ 12,988 $ 17,232 $ 899 $ 1,680,373 Owner occupied commercial real estate 346,325 26,910 9,341 75 382,651 Agriculture 189,923 2,765 1,890 218 194,796 Energy 36,425 — 796 — 37,221 Total commercial 2,221,927 42,663 29,259 1,192 2,295,041 Commercial real estate non-owner occupied: Construction 93,377 — 1,080 — 94,457 Acquisition/development 22,767 — 824 — 23,591 Multifamily 63,483 — — — 63,483 Non-owner occupied 395,921 15,641 1,647 — 413,209 Total commercial real estate 575,548 15,641 3,551 — 594,740 Residential real estate: Senior lien 713,175 5,338 7,963 — 726,476 Junior lien 98,623 504 1,067 — 100,194 Total residential real estate 811,798 5,842 9,030 — 826,670 Consumer 26,107 1 42 — 26,150 Total originated and acquired loans $ 3,635,380 $ 64,147 $ 41,882 $ 1,192 $ 3,742,601 Loans accounted for under ASC 310-30: Commercial $ 18,610 $ 1,051 $ 3,417 $ — $ 23,078 Commercial real estate non-owner occupied 46,291 950 1,165 — 48,406 Residential real estate 8,860 947 1,558 — 11,365 Consumer — — 105 — 105 Total loans accounted for under ASC 310-30 $ 73,761 $ 2,948 $ 6,245 $ — $ 82,954 Total loans $ 3,709,141 $ 67,095 $ 48,127 $ 1,192 $ 3,825,555 December 31, 2017 Special Pass mention Substandard Doubtful Total Originated and acquired loans: Commercial: Commercial and industrial $ 1,349,116 $ 10,829 $ 14,824 $ 1,253 $ 1,376,022 Owner occupied commercial real estate 250,224 17,030 5,424 75 272,753 Agriculture 118,068 18,824 1,870 133 138,895 Energy 55,814 — 1,646 — 57,460 Total commercial 1,773,222 46,683 23,764 1,461 1,845,130 Commercial real estate non-owner occupied: Construction 107,502 — 179 — 107,681 Acquisition/development 14,415 — — — 14,415 Multifamily 24,817 — 2,130 — 26,947 Non-owner occupied 333,225 1,396 1,477 — 336,098 Total commercial real estate 479,959 1,396 3,786 — 485,141 Residential real estate: Senior lien 641,294 91 5,097 — 646,482 Junior lien 56,172 — 824 — 56,996 Total residential real estate 697,466 91 5,921 — 703,478 Consumer 24,432 1 142 — 24,575 Total originated and acquired loans $ 2,975,079 $ 48,171 $ 33,613 $ 1,461 $ 3,058,324 Loans accounted for under ASC 310-30: Commercial $ 23,954 $ 1,070 $ 4,451 $ — $ 29,475 Commercial real estate non-owner occupied 50,537 883 26,488 — 77,908 Residential real estate 10,072 1,055 1,632 — 12,759 Consumer 327 9 145 — 481 Total loans accounted for under ASC 310-30 $ 84,890 $ 3,017 $ 32,716 $ — $ 120,623 Total loans $ 3,059,969 $ 51,188 $ 66,329 $ 1,461 $ 3,178,947 |
Schedule Of Impaired Financing Receivable With And Without Related Allowance | Additional information regarding impaired loans at June 30, 2018 and December 31, 2017 is set forth in the table below: June 30, 2018 December 31, 2017 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 $ 5,719 $ 4,209 $ — $ 6,481 $ 5,055 $ — Owner occupied commercial real estate 7,063 6,698 — 4,186 3,934 — Agriculture 1,508 1,259 — 1,502 1,245 — Energy 6,642 1,923 — 8,661 3,861 — Total commercial 20,932 14,089 — 20,830 14,095 — Commercial real estate non-owner occupied: Construction 1,307 1,082 — 215 179 — Acquisition/development 1,065 824 — — — — Multifamily — — — 29 29 — Non-owner occupied 648 569 — 901 853 — Total commercial real estate 3,020 2,475 — 1,145 1,061 — Residential real estate: Senior lien 3,075 2,781 — 333 309 — Junior lien 414 353 — — — — Total residential real estate 3,489 3,134 — 333 309 — Consumer 47 43 — — — — Total impaired loans with no related allowance recorded $ 27,488 $ 19,741 $ — $ 22,308 $ 15,465 $ — With a related allowance recorded: Commercial: Commercial and industrial $ 7,147 $ 4,539 $ 907 $ 7,919 $ 5,339 $ 1,329 Owner occupied commercial real estate 1,400 1,222 80 873 713 4 Agriculture 2,229 2,186 218 2,122 2,083 133 Energy — — — — — — Total commercial 10,776 7,947 1,205 10,914 8,135 1,466 Commercial real estate non-owner occupied: Construction — — — — — — Acquisition/development — — — — — — Multifamily — — — — — — Non-owner occupied 347 293 2 207 200 1 Total commercial real estate 347 293 2 207 200 1 Residential real estate: Senior lien 6,509 5,672 25 6,481 5,753 24 Junior lien 1,308 1,169 7 1,295 1,179 8 Total residential real estate 7,817 6,841 32 7,776 6,932 32 Consumer — — — 146 141 1 Total impaired loans with a related allowance recorded $ 18,940 $ 15,081 $ 1,239 $ 19,043 $ 15,408 $ 1,500 Total impaired loans $ 46,428 $ 34,822 $ 1,239 $ 41,351 $ 30,873 $ 1,500 |
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, 2018 June 30, 2017 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 5,321 $ 90 $ 6,645 $ 25 Owner occupied commercial real estate 6,723 17 3,789 23 Agriculture 1,259 — 1,454 — Energy 1,843 17 5,680 — Total commercial 15,147 124 17,568 48 Commercial real estate non-owner occupied: Construction 1,081 — — — Acquisition/development 827 — — — Multifamily — — — — Non-owner occupied 574 — 312 5 Total commercial real estate 2,481 — 312 5 Residential real estate: Senior lien 2,818 — 330 — Junior lien 354 — — — Total residential real estate 3,172 — 330 — Consumer 14 — — — Total impaired loans with no related allowance recorded $ 20,815 $ 124 $ 18,210 $ 53 With a related allowance recorded: Commercial: Commercial and industrial $ 4,607 $ — $ 4,643 $ — Owner occupied commercial real estate 1,233 4 2,340 7 Agriculture 2,142 1 912 1 Energy — — 6,624 — Total commercial 7,982 5 14,519 8 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily 9 — 31 — Non-owner occupied 297 5 216 2 Total commercial real estate 306 5 247 2 Residential real estate: Senior lien 5,744 13 6,525 20 Junior lien 1,187 11 1,403 12 Total residential real estate 6,931 23 7,928 32 Consumer 31 — 169 — Total impaired loans with a related allowance recorded $ 15,250 $ 33 $ 22,863 $ 42 Total impaired loans $ 36,065 $ 158 $ 41,073 $ 95 For the six months ended June 30, 2018 June 30, 2017 Average Interest Average Interest With no related allowance recorded: Commercial: Commercial and industrial $ 5,565 $ 173 $ 7,030 $ 73 Owner occupied commercial real estate 6,793 35 3,834 41 Agriculture 1,259 6 1,531 — Energy 2,098 37 5,889 — Total Commercial 15,715 251 18,284 114 Commercial real estate non-owner occupied: Construction 1,081 — — — Acquisition/development 856 — — — Multifamily — — — — Non-owner occupied 591 — 320 12 Total commercial real estate 2,528 — 320 12 Residential real estate: Senior lien 2,846 — 334 — Junior lien 358 — — — Total residential real estate 3,204 — 334 — Consumer 14 — — — Total impaired loans with no related allowance recorded $ 21,461 $ 251 $ 18,938 $ 126 With a related allowance recorded: Commercial: Commercial and industrial $ 4,639 $ — $ 4,630 $ — Owner occupied commercial real estate 1,249 9 2,349 11 Agriculture 2,084 2 914 3 Energy — — 6,602 — Total Commercial 7,972 11 14,495 14 Commercial real estate non-owner occupied: Construction — — — — Acquisition/development — — — — Multifamily 19 — 31 1 Non-owner occupied 308 9 220 5 Total commercial real estate 327 9 251 6 Residential real estate: Senior lien 5,821 26 6,583 40 Junior lien 1,202 20 1,421 25 Total residential real estate 7,023 46 8,004 65 Consumer 32 — 175 — Total impaired loans with a related allowance recorded $ 15,354 $ 66 $ 22,925 $ 85 Total impaired loans $ 36,815 $ 317 $ 41,863 $ 211 |
Additional Information Related to Accruing TDR's | The tables below provide additional information related to accruing TDRs at June 30, 2018 and December 31, 2017: June 30, 2018 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 5,509 $ 6,754 $ 6,299 $ 3,828 Commercial real estate non-owner occupied 266 278 311 — Residential real estate 1,165 1,190 1,172 12 Consumer — — — — Total $ 6,940 $ 8,222 $ 7,782 $ 3,840 December 31, 2017 Recorded Average year-to-date Unpaid Unfunded commitments investment recorded investment principal balance to fund TDRs Commercial $ 6,595 $ 7,308 $ 7,171 $ 2,041 Commercial real estate non-owner occupied 455 489 500 — Residential real estate 1,409 1,461 1,420 2 Consumer 1 3 1 — Total $ 8,460 $ 9,261 $ 9,092 $ 2,043 |
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, 2018 and December 31, 2017: June 30, 2018 December 31, 2017 Commercial $ 2,698 $ 5,808 Commercial real estate non-owner occupied — — Residential real estate 1,264 1,336 Consumer — 111 Total non-accruing TDRs $ 3,962 $ 7,255 |
Re-Measurement of Loans Accounted for Under ASC Topic 310-30 Resulting in Changes in Carrying Amount of Accretable Yield | The re-measurement 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, 2018 and 2017: June 30, 2018 June 30, 2017 Accretable yield beginning balance $ 46,568 $ 60,476 Reclassification from non-accretable difference 8,053 7,732 Reclassification to non-accretable difference (1,695) (494) Accretion (10,224) (12,051) Accretable yield ending balance $ 42,702 $ 55,663 |
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, 2018 and December 31, 2017: June 30, 2018 December 31, 2017 Contractual cash flows $ 442,000 $ 489,892 Non-accretable difference (316,344) (322,701) Accretable yield (42,702) (46,568) Loans accounted for under ASC 310-30 $ 82,954 $ 120,623 |
Allowance for Loan Losses - (Ta
Allowance for Loan Losses - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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, 2018 and 2017: 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 Three months ended June 30, 2017 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 20,539 $ 5,815 $ 4,216 $ 280 $ 30,850 Originated and acquired beginning balance 20,539 5,599 4,216 276 30,630 Charge-offs — — (2) (119) (121) Recoveries 30 10 110 55 205 Provision 4,087 191 (257) 82 4,103 Originated and acquired ending balance 24,656 5,800 4,067 294 34,817 ASC 310-30 beginning balance — 216 — 4 220 Charge-offs — — — — — Recoveries — — — — — (Recoupment) provision — (82) — 4 (78) ASC 310-30 ending balance — 134 — 8 142 Ending balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 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 Six months ended June 30, 2017 Non-owner occupied commercial Residential Commercial real estate real estate Consumer Total Beginning balance $ 18,821 $ 5,642 $ 4,387 $ 324 $ 29,174 Originated and acquired beginning balance 18,821 5,422 4,387 319 28,949 Charge-offs (20) — (10) (301) (331) Recoveries 41 20 113 122 296 Provision 5,814 358 (423) 154 5,903 Originated and acquired ending balance 24,656 5,800 4,067 294 34,817 ASC 310-30 beginning balance — 220 — 5 225 Charge-offs — — — — — Recoveries — — — — — (Recoupment) provision — (86) — 3 (83) ASC 310-30 ending balance — 134 — 8 142 Ending balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 Ending allowance balance attributable to: Originated and acquired loans individually evaluated for impairment $ 6,197 $ 1 $ 45 $ 1 $ 6,244 Originated and acquired loans collectively evaluated for impairment 18,459 5,799 4,022 293 28,573 ASC 310-30 loans — 134 — 8 142 Total ending allowance balance $ 24,656 $ 5,934 $ 4,067 $ 302 $ 34,959 Loans: Originated and acquired loans individually evaluated for impairment $ 30,458 $ 551 $ 8,205 $ 165 $ 39,379 Originated and acquired loans collectively evaluated for impairment 1,709,018 472,684 706,294 26,143 2,914,139 ASC 310-30 loans 35,978 83,785 14,012 652 134,427 Total loans $ 1,775,454 $ 557,020 $ 728,511 $ 26,960 $ 3,087,945 |
Other Real Estate Owned - (Tabl
Other Real Estate Owned - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
FDIC Loss-Sharing Related | |
Summary of Activity in OREO Balances | A summary of the activity in the OREO balances during the six months ended June 30, 2018 and 2017 is as follows: For the six months ended June 30, 2018 2017 Beginning balance $ 10,491 $ 15,662 Acquired through acquisition 1,253 — Transfers from loan portfolio, at fair value 24,382 639 Impairments (64) (46) Sales, net (593) (1,958) Ending balance $ 35,469 $ 14,297 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of gross carrying amount of intangible assets and the associated accumulated amortization | June 30, 2018 December 31, 2017 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount Core deposit intangible $ 48,834 $ 38,056 $ 10,778 $ 38,357 $ 36,750 $ 1,607 |
Summary of changes in the mortgage servicing rights | For the six months ended June 30, 2018 Beginning balance $ — Acquired through acquisition 4,301 Amortization (386) Ending balance $ 3,915 Fair value of mortgage servicing rights $ 4,473 |
Regulatory Capital - (Tables)
Regulatory Capital - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
FDIC Loss-Sharing Related | |
Capital Ratio Requirements under Prompt Corrective Action or Other Regulatory Requirements | June 30, 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 $ 546,964 N/A N/A $ 220,575 NBH Bank 493,193 $ 274,980 219,984 Common equity tier 1 risk-based capital: Consolidated $ 546,964 N/A N/A $ 386,006 NBH Bank 493,193 $ 357,474 384,972 Tier 1 risk-based capital ratio: Consolidated $ 546,964 N/A N/A $ 368,452 NBH Bank 493,193 $ 345,168 366,741 Total risk-based capital ratio: Consolidated $ 584,008 N/A N/A $ 455,147 NBH Bank 530,236 $ 431,460 453,033 December 31, 2017 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 $ 470,877 N/A N/A $ 191,559 NBH Bank 382,918 $ 237,772 190,217 Common equity tier 1 risk-based capital: Consolidated $ 470,877 N/A N/A $ 335,228 NBH Bank 382,918 $ 309,103 332,881 Tier 1 risk-based capital ratio: Consolidated $ 470,877 N/A N/A $ 309,400 NBH Bank 382,918 $ 289,022 307,086 Total risk-based capital ratio: Consolidated $ 502,917 N/A N/A $ 382,200 NBH Bank 414,958 $ 361,277 379,341 As of the fully phased-in date of January 1, 2019, including the capital conservation buffer. |
Revenue from Contracts with C34
Revenue from Contracts with Clients - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contracts with Clients | |
Summary of non-interest income segregated by revenue streams | For the three months ended June 30, For the six months ended June 30, 2018 2017 2018 2017 Non-interest income In-scope of Topic 606: Service Charges and other fees $ 5,008 $ 3,899 $ 10,183 $ 7,665 Bank card fees 3,672 3,134 7,034 5,938 Gain on banking center divestiture — 2,942 — 2,942 Non-interest income (in-scope of Topic 606) 8,680 9,975 17,217 16,545 Non-interest income (out-of-scope of Topic 606) 10,882 1,981 20,181 4,107 Total non-interest income $ 19,562 $ 11,956 $ 37,398 $ 20,652 Non-interest expense In-scope of Topic 606: Loss (gain) on OREO sales, net (14) (1,644) 64 (1,756) Total revenue in-scope of Topic 606 $ 8,666 $ 8,331 $ 17,281 $ 14,789 |
Stock-based Compensation and 35
Stock-based Compensation and Benefits - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of outstanding stock options | The following table summarizes stock option activity for the six months ended June 30, 2018: Weighted average Weighted remaining average contractual Aggregate exercise term in intrinsic Options price years value Outstanding at December 31, 2017 1,598,318 $ 20.62 4.07 $ 19,017 Granted 151,937 32.80 Exercised (441,161) 19.90 Forfeited (17,103) 28.57 Outstanding at June 30, 2018 1,291,991 22.20 4.39 21,181 Options exercisable at June 30, 2018 1,039,372 20.16 3.25 19,161 Options vested and expected to vest 1,259,359 21.94 4.26 20,965 |
Summary of Restricted Stock Activity | The following table summarizes restricted stock and performance stock unit activity during the six months ended June 30, 2018: Weighted Weighted Restricted average grant- Performance average grant- stock shares date fair value stock units date fair value Unvested at December 31, 2017 163,557 $ 22.60 125,082 $ 23.90 Granted 85,754 33.41 77,125 30.38 Vested (80,092) 22.82 — — Forfeited (13,136) 29.08 (9,884) 26.11 Unvested at June 30, 2018 156,083 $ 27.88 192,323 $ 26.39 |
Earnings Per Share - (Tables)
Earnings Per Share - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
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, 2018 and 2017: For the three months ended For the six months ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Net income $ 17,512 $ 9,209 $ 25,977 $ 17,467 Less: income allocated to participating securities (18) (14) (31) (30) Income allocated to common shareholders $ 17,494 $ 9,195 $ 25,946 $ 17,437 Weighted average shares outstanding for basic earnings per common share 30,735,427 26,955,187 30,615,226 26,878,904 Dilutive effect of equity awards 651,748 642,256 660,133 742,001 Dilutive effect of warrants — — — 16,627 Weighted average shares outstanding for diluted earnings per common share 31,387,175 27,597,443 31,275,359 27,637,532 Basic earnings per share $ 0.57 $ 0.34 $ 0.85 $ Diluted earnings per share $ 0.56 $ 0.33 $ 0.83 $ |
Derivatives - (Tables)
Derivatives - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | 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, 2018 and December 31, 2017. Information about the valuation methods used to measure fair value is provided in note 19. Asset derivatives fair value Liability derivatives fair value Balance Sheet June 30, December 31, Balance Sheet June 30, December 31, location 2018 2017 location 2018 2017 Derivatives designated as hedging instruments: Interest rate products Other assets $ 26,667 $ 10,489 Other liabilities $ 3 $ 1,167 Total derivatives designated as hedging instruments $ 26,667 $ 10,489 $ 3 $ 1,167 Derivatives not designated as hedging instruments: Interest rate products Other assets $ 4,014 $ 2,483 Other liabilities $ 3,992 $ 2,584 Interest rate lock commitments Other assets 1,466 128 Other liabilities 252 — Forward contracts Other assets 25 5 Other liabilities 538 7 Total derivatives not designated as hedging instruments $ 5,505 $ 2,616 $ 4,782 $ 2,591 |
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, 2018 and 2017: Location of gain (loss) Amount of gain (loss) 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 2018 2017 2018 2017 Interest rate products Interest and fees on loans $ 5,288 $ — $ 17,340 $ — Interest rate products Other non-interest income — (3,169) — (2,105) Total $ 5,288 $ (3,169) $ 17,340 $ (2,105) Location of gain (loss) Amount of gain (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 2018 2017 2018 2017 Interest rate products Interest and fees on loans $ (5,347) $ — $ (17,264) $ — Interest rate products Other non-interest income — 2,962 — 1,720 Total $ (5,347) $ 2,962 $ (17,264) $ 1,720 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 2018 2017 2018 2017 Interest rate products Other non-interest expense $ 3 $ (47) $ 124 $ (79) Interest rate lock commitments Mortgage banking income (517) (122) (141) 1 Forward contracts Mortgage banking income 305 63 1,413 (131) Total $ (209) $ (106) $ 1,396 $ (209) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Total Unfunded Commitments | Total unfunded commitments at June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Commitments to fund loans $ 231,844 $ 181,904 Unfunded commitments under lines of credit 532,778 498,857 Commercial and standby letters of credit 8,260 7,185 Total unfunded commitments $ 772,882 $ 687,946 |
Fair Value Measurements - (Tabl
Fair Value Measurements - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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, 2018 and December 31, 2017 on the consolidated statements of financial condition utilizing the hierarchy structure described above: June 30, 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 $ — $ 171,255 $ — $ 171,255 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 683,983 — 683,983 Municipal securities — 825 — 825 Loans held for sale — 113,057 — 113,057 Interest rate swap derivatives — 30,681 — 30,681 Mortgage banking derivatives — — 1,491 1,491 Total assets at fair value $ — $ 999,801 $ 1,491 $ 1,001,292 Liabilities: Interest rate swap derivatives $ — $ 3,995 $ — $ 3,995 Mortgage banking derivatives — — 790 Total liabilities at fair value $ — $ 3,995 $ 790 $ 4,785 December 31, 2017 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 $ — $ 168,648 $ — $ 168,648 Other residential MBS issued or guaranteed by U.S. Government agencies or sponsored enterprises — 685,230 — 685,230 Municipal securities — 829 — 829 Loans held for sale — 4,629 — 4,629 Interest rate swap derivatives — 12,972 — 12,972 Mortgage banking derivatives — — 133 Total assets at fair value $ — $ 872,308 $ 133 $ 872,441 Liabilities: Interest rate swap derivatives $ — $ 3,751 $ — $ 3,751 Mortgage banking derivatives — — 7 Total liabilities at fair value $ — $ 3,751 $ 7 $ 3,758 |
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, 2018: Mortgage banking derivatives, net Balance at December 31, 2017 $ 126 Gain included in earnings, net 575 Balance at June 30, 2018 $ |
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, 2018 and 2017: 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 June 30, 2017 Total Losses from fair value changes Impaired loans $ 39,379 $ 327 Other real estate owned 14,297 46 Total $ 53,676 $ 373 |
Fair Value of Financial Instr40
Fair Value of Financial Instruments - (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | The fair value of financial instruments at June 30, 2018 and December 31, 2017, including methods and assumptions utilized for determining fair value of financial instruments, are set forth below: Level in fair value June 30, 2018 December 31, 2017 measurement Carrying Estimated Carrying Estimated hierarchy amount fair value amount fair value ASSETS Cash and cash equivalents Level 1 $ 137,917 $ 137,917 $ 257,364 $ 257,364 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 171,255 171,255 168,648 168,648 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises available-for-sale Level 2 683,983 683,983 685,230 685,230 Municipal securities Level 2 825 825 829 829 Municipal securities Level 3 219 219 219 219 Other available-for-sale securities Level 3 469 469 419 419 Mortgage-backed securities—residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 178,946 175,471 204,352 204,048 Mortgage-backed securities—other residential mortgage-backed securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity Level 2 87,251 84,739 54,378 52,723 Non-marketable securities Level 2 20,070 20,070 15,030 15,030 Loans receivable Level 3 3,825,555 3,776,564 3,178,947 3,167,508 Loans held for sale Level 2 113,057 113,057 4,629 4,629 Accrued interest receivable Level 2 18,147 18,147 14,255 14,255 Interest rate swap derivatives Level 2 30,681 30,681 12,972 12,972 Mortgage banking derivatives Level 3 1,491 1,491 133 133 LIABILITIES Deposit transaction accounts Level 2 3,499,133 3,499,133 2,861,509 2,861,509 Time deposits Level 2 1,132,331 1,132,331 1,118,050 1,118,050 Securities sold under agreements to repurchase Level 2 73,441 73,441 130,463 130,463 Federal Home Loan Bank advances Level 2 188,334 188,579 129,115 130,300 Accrued interest payable Level 2 6,136 6,136 5,776 5,776 Interest rate swap derivatives Level 2 3,995 3,995 3,751 3,751 Mortgage banking derivatives Level 3 7 7 |
Basis of Presentation - (Detail
Basis of Presentation - (Details) | 6 Months Ended |
Jun. 30, 2018item | |
Accounting Policies [Abstract] | |
Number of full service banking offices | 104 |
Recent Accounting Pronounceme42
Recent Accounting Pronouncements - (Details) - Adjustments for New Accounting Principle, Early Adoption [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Accounting Standards Update 2017-12 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative effect adjustment | $ 26 |
Retained earnings [Member] | Accounting Standards Update 2018-02 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Reclassification of certain tax effects from accumulated other comprehensive income | 1,479 |
Retained earnings [Member] | Accounting Standards Update 2017-12 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative effect adjustment | $ 26 |
Acquisition Activities - (Narra
Acquisition Activities - (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 |
Business Acquisition [Line Items] | |||||
Acquisition related expenses | $ 400 | $ 8,000 | |||
Amortization and accretion of purchase discounts and premiums | (753) | $ (1,324) | |||
Amortization of acquired identifiable intangibles | 386 | ||||
Pro forma information | |||||
Total revenue | 69,000 | $ 70,400 | 134,400 | 132,000 | |
Net income | $ 17,800 | $ 11,600 | $ 32,300 | $ 21,400 | |
Basic earnings per share (in dollars per share) | $ 0.58 | $ 0.57 | $ 1.05 | $ 0.71 | |
Diluted earnings per share (in dollars per share) | $ 0.38 | $ 0.37 | $ 1.03 | $ 0.69 | |
Peoples Inc Member | |||||
Business Acquisition [Line Items] | |||||
Cash consideration | 3,398,477 | ||||
Gross contractual amounts receivable | $ 713,600 | ||||
Loans not expected to be collected | 6,100 | ||||
Mortgage repurchase reserve | $ 4,000 | ||||
Amortization and accretion of purchase discounts and premiums | $ 200 | $ 400 | |||
Amortization of acquired identifiable intangibles | $ 300 | $ 600 |
Acquisition - (Summary of Net A
Acquisition - (Summary of Net Assets Acquired) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Consideration: | |||
Goodwill | $ 115,027 | $ 59,630 | |
Closing price | $ 32.43 | ||
Core Deposits | |||
Assets: | |||
Intangible asset | 48,800 | ||
Mortgage servicing rights | |||
Assets: | |||
Intangible asset | 4,300 | ||
Peoples Inc [Member] | |||
Assets: | |||
Cash and due from banks | $ 105,173 | ||
Investment secruities 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 aquired | 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 | 55,400 | |
Peoples Inc [Member] | Core Deposits | |||
Assets: | |||
Intangible asset | $ 10,477 | ||
Amortization period for intangible assets | 10 years | ||
Consideration: | |||
Goodwill | 10,500 | ||
Peoples Inc [Member] | Mortgage servicing rights | |||
Assets: | |||
Intangible asset | $ 4,301 | ||
Consideration: | |||
Goodwill | $ 4,300 |
Investment Securities - (Narrat
Investment Securities - (Narrative) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018USD ($)security | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($)security | |
Investment securities total | $ 1,100,000 | $ 1,100,000 | |
Amortized cost | 884,215 | 870,849 | |
Available-for-sale securities | 856,751 | 855,345 | |
Held-to-maturity securities | $ 266,197 | $ 258,730 | |
Mortgage-backed securities as percentage of available-for-sale investment portfolio | 100.00% | 100.00% | |
Number of securities | security | 213 | 87 | |
Fair value of available-for-sale securities in an unrealized loss position | $ 781,230 | $ 674,091 | |
Fair value of available-for-sale security with OTTI | $ 300 | ||
Fair value of available-for-sale investment securities pledged as collateral | $ 313,600 | $ 334,600 | |
Gain/(loss) on sale of securities | $ 200 | ||
Estimated weighted average life of the available-for-sale mortgage-backed securities portfolio | 3 years 4 months 24 days | 3 years 4 months 24 days | |
Life of the available-for-sale mortgage-backed securities portfolio | 3 years 1 month 6 days | 3 years 1 month 6 days | |
Other securities having no contractual maturity date | $ 300 | ||
Number of held-to-maturity securities in unrealized loss positions | security | 49 | 36 | |
Fair value of held-to-maturity securities in an unrealized loss position | $ 258,577 | $ 219,412 | |
Held-to-maturity investment securities pledged as collateral | $ 153,000 | $ 142,000 | |
Estimated weighted average expected life of the held-to-maturity mortgage-backed securities portfolio | 3 years | 3 years 1 month 6 days | |
Life of the held-to-maturity investment portfolio | 2 years 9 months 18 days | 2 years 9 months 18 days | |
Municipal securities maturing within one to five years [Member] | |||
Amortized cost | $ 200 | ||
Available-for-sale securities | 300 | ||
Municipal securities due within five to ten years [Member] | |||
Amortized cost | 500 | ||
Available-for-sale securities | 600 | ||
Other Securities [Member] | |||
Amortized cost | 469 | $ 419 | |
Available-for-sale securities | $ 469 | $ 419 |
Investment Securities - (Summar
Investment Securities - (Summary of Available-for-Sale Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 884,215 | $ 870,849 |
Gross unrealized gains | 1,545 | 2,722 |
Gross unrealized losses | (29,009) | (18,226) |
Investment securities available-for-sale (at fair value) | 856,751 | 855,345 |
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 | 172,595 | 167,269 |
Gross unrealized gains | 1,429 | 2,371 |
Gross unrealized losses | (2,769) | (992) |
Investment securities available-for-sale (at fair value) | 171,255 | 168,648 |
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 | 710,097 | 702,107 |
Gross unrealized gains | 116 | 351 |
Gross unrealized losses | (26,230) | (17,228) |
Investment securities available-for-sale (at fair value) | 683,983 | 685,230 |
Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 1,054 | 1,054 |
Gross unrealized losses | (10) | (6) |
Investment securities available-for-sale (at fair value) | 1,044 | 1,048 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 469 | 419 |
Investment securities available-for-sale (at fair value) | $ 469 | $ 419 |
Investment Securities - (Summ47
Investment Securities - (Summary of Unrealized Losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | $ 391,427 | $ 225,038 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7,368) | (1,244) |
12 months or more, Fair Value | 389,803 | 449,053 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (21,641) | (16,982) |
Total, Fair Value | 781,230 | 674,091 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (29,009) | (18,226) |
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 | 93,407 | 62,178 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,923) | (408) |
12 months or more, Fair Value | 28,208 | 36,086 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (846) | (584) |
Total, Fair Value | 121,615 | 98,264 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (2,769) | (992) |
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 | 297,510 | 162,346 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5,435) | (830) |
12 months or more, Fair Value | 361,595 | 412,967 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (20,795) | (16,398) |
Total, Fair Value | 659,105 | 575,313 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (26,230) | (17,228) |
Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months Fair Value | 510 | 514 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (10) | (6) |
Total, Fair Value | 510 | 514 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (10) | $ (6) |
Investment Securities - (Summ48
Investment Securities - (Summary of Held-to-maturity Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 266,197 | $ 258,730 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 2 | 151 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (5,989) | (2,110) |
Fair value | 260,210 | 256,771 |
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 | 178,946 | 204,352 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 2 | 151 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (3,477) | (455) |
Fair value | 175,471 | 204,048 |
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 | 87,251 | 54,378 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2,512) | (1,655) |
Fair value | $ 84,739 | $ 52,723 |
Investment Securities - (Summ49
Investment Securities - (Summary of Held-to-Maturity Securities, Unrealized Losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 202,876 | $ 155,642 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,386) | (285) |
Fair Value, 12 months or more | 55,701 | 63,770 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,603) | (1,825) |
Total Fair Value | 258,577 | 219,412 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (5,989) | (2,110) |
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 | 158,592 | 149,182 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,972) | (220) |
Fair Value, 12 months or more | 15,245 | 17,506 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (506) | (235) |
Total Fair Value | 173,837 | 166,688 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3,478) | (455) |
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 | 44,284 | 6,460 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (414) | (65) |
Fair Value, 12 months or more | 40,456 | 46,264 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,097) | (1,590) |
Total Fair Value | 84,740 | 52,724 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (2,511) | $ (1,655) |
Loans - Narrative Section (Deta
Loans - Narrative Section (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||||
Fees and cost related to loans | $ 9,800 | $ 9,800 | $ 4,300 | ||
Carrying amount of loan investments | 3,825,555 | $ 3,087,945 | 3,825,555 | $ 3,087,945 | 3,178,947 |
Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 2,318,119 | 2,318,119 | 1,874,605 | ||
Non Accrual [Member] | |||||
Debt Instrument [Line Items] | |||||
Recorded investment, non-accrual status | 25,600 | 25,600 | |||
Increase (decrease) in non-accrual loans | $ 4,600 | ||||
Percentage increase (decrease) in past due loans | 22.10% | ||||
Originated and acquired loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 3,742,601 | $ 3,742,601 | 3,058,324 | ||
Allowance for Loan and Lease Losses, Write-offs | 335 | 121 | 1,051 | 331 | |
Originated and acquired loans [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 2,295,041 | 2,295,041 | 1,845,130 | ||
ASC 310-30 [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 82,954 | $ 134,427 | 82,954 | $ 134,427 | 120,623 |
Allowance for Loan and Lease Losses, Write-offs | 61 | 61 | |||
ASC 310-30 [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 23,078 | 23,078 | 29,475 | ||
Total Loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 3,825,555 | 3,825,555 | 3,178,947 | ||
Total Loans [Member] | Originated and acquired loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 3,742,601 | 3,742,601 | 3,058,324 | ||
Recorded investment, non-accrual status | 25,635 | 25,635 | 21,000 | ||
Total past due loans | 24,288 | 24,288 | 13,557 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,680,373 | 1,680,373 | 1,376,022 | ||
Recorded investment, non-accrual status | 5,545 | 5,545 | 7,767 | ||
Total past due loans | 6,714 | 6,714 | 2,060 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 37,221 | 37,221 | 57,460 | ||
Recorded investment, non-accrual status | 796 | 796 | 1,645 | ||
Total past due loans | 796 | 796 | 1,645 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 2,295,041 | 2,295,041 | 1,845,130 | ||
Recorded investment, non-accrual status | 14,928 | 14,928 | 14,893 | ||
Total past due loans | 12,862 | 12,862 | 7,670 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 382,651 | 382,651 | 272,753 | ||
Recorded investment, non-accrual status | 6,479 | 6,479 | 3,478 | ||
Total past due loans | 4,223 | 4,223 | 2,679 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 413,209 | 413,209 | 336,098 | ||
Recorded investment, non-accrual status | 597 | 597 | 605 | ||
Total past due loans | 493 | 493 | 630 | ||
Total Loans [Member] | ASC 310-30 [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 82,954 | 82,954 | 120,623 | ||
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 23,078 | 23,078 | 29,475 | ||
Total Loans [Member] | Substandard [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 48,127 | 48,127 | 66,329 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 41,882 | 41,882 | 33,613 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 17,232 | 17,232 | 14,824 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 796 | 796 | 1,646 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 29,259 | 29,259 | 23,764 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 9,341 | 9,341 | 5,424 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,647 | 1,647 | 1,477 | ||
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 6,245 | 6,245 | 32,716 | ||
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 3,417 | 3,417 | 4,451 | ||
Total Loans [Member] | Special Mention [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 67,095 | 67,095 | 51,188 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 64,147 | 64,147 | 48,171 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 12,988 | 12,988 | 10,829 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 42,663 | 42,663 | 46,683 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 26,910 | 26,910 | 17,030 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 15,641 | 15,641 | 1,396 | ||
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 2,948 | 2,948 | 3,017 | ||
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,051 | 1,051 | 1,070 | ||
Total Loans [Member] | Doubtful [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,192 | 1,192 | 1,461 | ||
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,192 | 1,192 | 1,461 | ||
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 899 | 899 | 1,253 | ||
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | 1,192 | 1,192 | 1,461 | ||
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of loan investments | $ 75 | $ 75 | $ 75 |
Loans - Impaired Loans Narrativ
Loans - Impaired Loans Narrative (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018USD ($)loanitem | Dec. 31, 2017USD ($) | Jun. 30, 2017USD ($) | |
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | $ 3,825,555 | $ 3,178,947 | $ 3,087,945 |
Impaired loans | 14,300 | ||
Recorded investment of impaired loans | $ 34,822 | 30,873 | |
Number of loans resulting in increase to impaired loans | loan | 8 | ||
Collective related allowance for loan losses for impaired loans | $ 1,239 | 1,500 | |
Non Accrual [Member] | |||
Debt Instrument [Line Items] | |||
Investment in impaired loans not covered by loan loss, non-accrual status | 25,600 | ||
Fair Value Of Collateral Pledged [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | 15,500 | ||
Discounted Cash Flows [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | 2,100 | ||
General Reserve [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | 8,800 | ||
Individual loan amount of impaired loans | 250 | ||
Impaired loans acquired | 8,400 | ||
Commercial Loan [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount of loan investments | 2,318,119 | $ 1,874,605 | |
Commercial and Industrial [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | $ 6,100 | ||
Number of loans resulting in increase to impaired loans | loan | 3 | ||
Energy Loans [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | $ 1,100 | ||
Number of loans resulting in increase to impaired loans | loan | 1 | ||
Agricultural Sector [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | $ 1,300 | ||
Number of loans resulting in increase to impaired loans | loan | 1 | ||
Owner-Occupied [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | $ 4,800 | ||
Commercial Construction [Member] | |||
Debt Instrument [Line Items] | |||
Impaired loans | $ 1,000 | ||
Number of loans resulting in increase to impaired loans | item | 1 |
Loans - (Loan Portfolio Composi
Loans - (Loan Portfolio Composition Including Carrying Value by Segment of Loans Accounted for under ASC Topic 310-30) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Loans [Line Items] | |||
Total Loans | $ 3,825,555 | $ 3,178,947 | $ 3,087,945 |
% of Total | 100.00% | 100.00% | |
Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 2,318,119 | $ 1,874,605 | |
% of Total | 60.60% | 59.00% | |
Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 643,151 | $ 563,049 | |
% of Total | 16.80% | 17.70% | |
Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 838,035 | $ 716,237 | |
% of Total | 21.90% | 22.50% | |
Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 26,250 | $ 25,056 | |
% of Total | 0.70% | 0.80% | |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 82,954 | $ 120,623 | $ 134,427 |
ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 23,078 | 29,475 | |
ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 48,411 | 77,908 | |
ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 11,365 | 12,759 | |
ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 100 | 481 | |
Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,742,601 | 3,058,324 | |
Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,295,041 | 1,845,130 | |
Originated and acquired loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 594,740 | 485,141 | |
Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 826,670 | 703,478 | |
Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 26,150 | $ 24,575 |
Loans - (Loan Delinquency) (Det
Loans - (Loan Delinquency) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Loans [Line Items] | |||
Total loans | $ 3,825,555 | $ 3,178,947 | $ 3,087,945 |
Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 2,318,119 | 1,874,605 | |
Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 643,151 | 563,049 | |
Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 838,035 | 716,237 | |
Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 26,250 | 25,056 | |
Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total loans | 3,742,601 | 3,058,324 | |
Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 2,295,041 | 1,845,130 | |
Originated and acquired loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 594,740 | 485,141 | |
Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 826,670 | 703,478 | |
Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 26,150 | 24,575 | |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total loans | 82,954 | 120,623 | $ 134,427 |
ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 23,078 | 29,475 | |
ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 48,411 | 77,908 | |
ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 11,365 | 12,759 | |
ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 100 | 481 | |
Total Loans [Member] | |||
Loans [Line Items] | |||
Total loans | 3,825,555 | 3,178,947 | |
Total Loans [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 24,288 | 13,557 | |
Current | 3,718,313 | 3,044,767 | |
Total loans | 3,742,601 | 3,058,324 | |
Loans 90 days past due and still accruing | 1,104 | 150 | |
Non- accrual | 25,635 | 21,000 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,288 | 179 | |
Current | 92,169 | 107,502 | |
Total loans | 94,457 | 107,681 | |
Non- accrual | 1,080 | 179 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total past due loans | 17 | 1,097 | |
Current | 23,574 | 13,318 | |
Total loans | 23,591 | 14,415 | |
Non- accrual | 824 | ||
Total Loans [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Current | 63,483 | 26,947 | |
Total loans | 63,483 | 26,947 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total past due loans | 6,714 | 2,060 | |
Current | 1,673,659 | 1,373,962 | |
Total loans | 1,680,373 | 1,376,022 | |
Loans 90 days past due and still accruing | 40 | 150 | |
Non- accrual | 5,545 | 7,767 | |
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 4,223 | 2,679 | |
Current | 378,428 | 270,074 | |
Total loans | 382,651 | 272,753 | |
Loans 90 days past due and still accruing | 460 | ||
Non- accrual | 6,479 | 3,478 | |
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 493 | 630 | |
Current | 412,716 | 335,468 | |
Total loans | 413,209 | 336,098 | |
Loans 90 days past due and still accruing | 142 | ||
Non- accrual | 597 | 605 | |
Total Loans [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,798 | 1,906 | |
Current | 591,942 | 483,235 | |
Total loans | 594,740 | 485,141 | |
Loans 90 days past due and still accruing | 142 | ||
Non- accrual | 2,501 | 784 | |
Total Loans [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total past due loans | 6,936 | 3,448 | |
Current | 719,540 | 643,034 | |
Total loans | 726,476 | 646,482 | |
Loans 90 days past due and still accruing | 366 | ||
Non- accrual | 7,372 | 4,724 | |
Total Loans [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total past due loans | 1,222 | 365 | |
Current | 98,972 | 56,631 | |
Total loans | 100,194 | 56,996 | |
Loans 90 days past due and still accruing | 16 | ||
Non- accrual | 792 | 459 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total past due loans | 12,862 | 7,670 | |
Current | 2,282,179 | 1,837,460 | |
Total loans | 2,295,041 | 1,845,130 | |
Loans 90 days past due and still accruing | 500 | 150 | |
Non- accrual | 14,928 | 14,893 | |
Total Loans [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,129 | 1,286 | |
Current | 193,667 | 137,609 | |
Total loans | 194,796 | 138,895 | |
Non- accrual | 2,108 | 2,003 | |
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 796 | 1,645 | |
Current | 36,425 | 55,815 | |
Total loans | 37,221 | 57,460 | |
Non- accrual | 796 | 1,645 | |
Total Loans [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total past due loans | 8,158 | 3,813 | |
Current | 818,512 | 699,665 | |
Total loans | 826,670 | 703,478 | |
Loans 90 days past due and still accruing | 382 | ||
Non- accrual | 8,164 | 5,183 | |
Total Loans [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total past due loans | 470 | 168 | |
Current | 25,680 | 24,407 | |
Total loans | 26,150 | 24,575 | |
Loans 90 days past due and still accruing | 80 | ||
Non- accrual | 42 | 140 | |
Total Loans [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total loans | 82,954 | 120,623 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total loans | 23,078 | 29,475 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total loans | 48,406 | 77,908 | |
Total Loans [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total loans | 11,365 | 12,759 | |
Total Loans [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total loans | 105 | 481 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 8,644 | 4,545 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,208 | ||
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,097 | ||
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,765 | 554 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,465 | 696 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 19 | 56 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,227 | 1,153 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total past due loans | 2,733 | 1,167 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total past due loans | 982 | 233 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total past due loans | 3,424 | 1,835 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total past due loans | 194 | 585 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total past due loans | 3,715 | 1,400 | |
Total Loans [Member] | 30-59 Days Past Due | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total past due loans | 278 | 157 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 5,601 | 1,099 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total past due loans | 17 | ||
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,644 | 117 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 471 | ||
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 332 | ||
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total past due loans | 349 | ||
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total past due loans | 1,777 | 885 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total past due loans | 49 | 91 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total past due loans | 3,332 | 117 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total past due loans | 217 | ||
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,826 | 976 | |
Total Loans [Member] | 60-89 Days Past Due | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total past due loans | 94 | 6 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 10,043 | 7,913 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,080 | 179 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,305 | 1,389 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,287 | 1,983 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total past due loans | 142 | 574 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total past due loans | 1,222 | 753 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total past due loans | 2,426 | 1,396 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total past due loans | 191 | 41 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total past due loans | 6,106 | 5,718 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total past due loans | 718 | 701 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total past due loans | 796 | 1,645 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total past due loans | 2,617 | 1,437 | |
Total Loans [Member] | Greater than 90 Days Past Due | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total past due loans | 98 | $ 5 | |
Non Accrual [Member] | |||
Loans [Line Items] | |||
Non- accrual | $ 25,600 |
Loans - (Credit Exposure for Lo
Loans - (Credit Exposure for Loans as Determined by Company's Internal Risk Rating System) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Loans [Line Items] | |||
Total Loans | $ 3,825,555 | $ 3,178,947 | $ 3,087,945 |
Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,318,119 | 1,874,605 | |
Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 838,035 | 716,237 | |
Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 26,250 | 25,056 | |
Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 643,151 | 563,049 | |
Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,742,601 | 3,058,324 | |
Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,295,041 | 1,845,130 | |
Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 826,670 | 703,478 | |
Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 26,150 | 24,575 | |
Originated and acquired loans [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 594,740 | 485,141 | |
ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 82,954 | 120,623 | $ 134,427 |
ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 23,078 | 29,475 | |
ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 11,365 | 12,759 | |
ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 100 | 481 | |
ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 48,411 | 77,908 | |
Total Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,825,555 | 3,178,947 | |
Total Loans [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,742,601 | 3,058,324 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,680,373 | 1,376,022 | |
Total Loans [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 194,796 | 138,895 | |
Total Loans [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 37,221 | 57,460 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,295,041 | 1,845,130 | |
Total Loans [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 594,740 | 485,141 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 94,457 | 107,681 | |
Total Loans [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 23,591 | 14,415 | |
Total Loans [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 63,483 | 26,947 | |
Total Loans [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 382,651 | 272,753 | |
Total Loans [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 413,209 | 336,098 | |
Total Loans [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 826,670 | 703,478 | |
Total Loans [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 726,476 | 646,482 | |
Total Loans [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 100,194 | 56,996 | |
Total Loans [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 26,150 | 24,575 | |
Total Loans [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 82,954 | 120,623 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 23,078 | 29,475 | |
Total Loans [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 11,365 | 12,759 | |
Total Loans [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 105 | 481 | |
Total Loans [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 48,406 | 77,908 | |
Total Loans [Member] | Pass [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,709,141 | 3,059,969 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,635,380 | 2,975,079 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,649,254 | 1,349,116 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 189,923 | 118,068 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 36,425 | 55,814 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,221,927 | 1,773,222 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 575,548 | 479,959 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 93,377 | 107,502 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 22,767 | 14,415 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 63,483 | 24,817 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 346,325 | 250,224 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 395,921 | 333,225 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 811,798 | 697,466 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 713,175 | 641,294 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 98,623 | 56,172 | |
Total Loans [Member] | Pass [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 26,107 | 24,432 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 73,761 | 84,890 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 18,610 | 23,954 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 8,860 | 10,072 | |
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 327 | ||
Total Loans [Member] | Pass [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 46,291 | 50,537 | |
Total Loans [Member] | Special Mention [Member] | |||
Loans [Line Items] | |||
Total Loans | 67,095 | 51,188 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 64,147 | 48,171 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 12,988 | 10,829 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,765 | 18,824 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 42,663 | 46,683 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,641 | 1,396 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 26,910 | 17,030 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 15,641 | 1,396 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 5,842 | 91 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 5,338 | 91 | |
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 504 | ||
Total Loans [Member] | Special Mention [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 1 | 1 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,948 | 3,017 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,051 | 1,070 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 947 | 1,055 | |
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 9 | ||
Total Loans [Member] | Special Mention [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 950 | 883 | |
Total Loans [Member] | Substandard [Member] | |||
Loans [Line Items] | |||
Total Loans | 48,127 | 66,329 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 41,882 | 33,613 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 17,232 | 14,824 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,890 | 1,870 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Energy Loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 796 | 1,646 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 29,259 | 23,764 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Total Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,551 | 3,786 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Construction [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,080 | 179 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Commercial Acquisition/Development [Member] | |||
Loans [Line Items] | |||
Total Loans | 824 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Multifamily [Member] | |||
Loans [Line Items] | |||
Total Loans | 2,130 | ||
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 9,341 | 5,424 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Non Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,647 | 1,477 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 9,030 | 5,921 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Senior lien | |||
Loans [Line Items] | |||
Total Loans | 7,963 | 5,097 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Junior lien | |||
Loans [Line Items] | |||
Total Loans | 1,067 | 824 | |
Total Loans [Member] | Substandard [Member] | Originated and acquired loans [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 42 | 142 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | |||
Loans [Line Items] | |||
Total Loans | 6,245 | 32,716 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 3,417 | 4,451 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Residential Real Estate Segment [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,558 | 1,632 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Consumer [Member] | |||
Loans [Line Items] | |||
Total Loans | 105 | 145 | |
Total Loans [Member] | Substandard [Member] | ASC 310-30 [Member] | Commercial Real Estate [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,165 | 26,488 | |
Total Loans [Member] | Doubtful [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,192 | 1,461 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,192 | 1,461 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial and Industrial [Member] | |||
Loans [Line Items] | |||
Total Loans | 899 | 1,253 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Agriculture [Member] | |||
Loans [Line Items] | |||
Total Loans | 218 | 133 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Commercial Loan [Member] | |||
Loans [Line Items] | |||
Total Loans | 1,192 | 1,461 | |
Total Loans [Member] | Doubtful [Member] | Originated and acquired loans [Member] | Owner-Occupied [Member] | |||
Loans [Line Items] | |||
Total Loans | $ 75 | $ 75 |
Loans - (Additional Information
Loans - (Additional Information Regarding Impaired Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans [Line Items] | ||
Unpaid principal balance, Total | $ 46,428 | $ 41,351 |
Recorded investment of impaired loans | 34,822 | 30,873 |
Loans and Leases Receivable, Allowance | 1,239 | 1,500 |
Commercial and Industrial [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 5,719 | 6,481 |
Recorded investment with no related allowance recorded | 4,209 | 5,055 |
Unpaid principal balance of impaired loans with an allowance recorded | 7,147 | 7,919 |
Recorded investment of impaired loans with an allowance recorded | 4,539 | 5,339 |
Allowance for loan losses allocated with an allowance recorded | 907 | 1,329 |
Agriculture [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,508 | 1,502 |
Recorded investment with no related allowance recorded | 1,259 | 1,245 |
Unpaid principal balance of impaired loans with an allowance recorded | 2,229 | 2,122 |
Recorded investment of impaired loans with an allowance recorded | 2,186 | 2,083 |
Allowance for loan losses allocated with an allowance recorded | 218 | 133 |
Energy Loans [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 6,642 | 8,661 |
Recorded investment with no related allowance recorded | 1,923 | 3,861 |
Commercial Loan [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 20,932 | 20,830 |
Recorded investment with no related allowance recorded | 14,089 | 14,095 |
Unpaid principal balance of impaired loans with an allowance recorded | 10,776 | 10,914 |
Recorded investment of impaired loans with an allowance recorded | 7,947 | 8,135 |
Allowance for loan losses allocated with an allowance recorded | 1,205 | 1,466 |
Commercial Construction [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,307 | 215 |
Recorded investment with no related allowance recorded | 1,082 | 179 |
Commercial Acquisition/Development [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 1,065 | |
Recorded investment with no related allowance recorded | 824 | |
Multifamily [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 29 | |
Recorded investment with no related allowance recorded | 29 | |
Owner-Occupied [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 7,063 | 4,186 |
Recorded investment with no related allowance recorded | 6,698 | 3,934 |
Unpaid principal balance of impaired loans with an allowance recorded | 1,400 | 873 |
Recorded investment of impaired loans with an allowance recorded | 1,222 | 713 |
Allowance for loan losses allocated with an allowance recorded | 80 | 4 |
Non Owner-Occupied [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 648 | 901 |
Recorded investment with no related allowance recorded | 569 | 853 |
Unpaid principal balance of impaired loans with an allowance recorded | 347 | 207 |
Recorded investment of impaired loans with an allowance recorded | 293 | 200 |
Allowance for loan losses allocated with an allowance recorded | 2 | 1 |
Total Commercial Real Estate [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 3,020 | 1,145 |
Recorded investment with no related allowance recorded | 2,475 | 1,061 |
Unpaid principal balance of impaired loans with an allowance recorded | 347 | 207 |
Recorded investment of impaired loans with an allowance recorded | 293 | 200 |
Allowance for loan losses allocated with an allowance recorded | 2 | 1 |
Senior lien | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 3,075 | 333 |
Recorded investment with no related allowance recorded | 2,781 | 309 |
Unpaid principal balance of impaired loans with an allowance recorded | 6,509 | 6,481 |
Recorded investment of impaired loans with an allowance recorded | 5,672 | 5,753 |
Allowance for loan losses allocated with an allowance recorded | 25 | 24 |
Junior lien | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 414 | |
Recorded investment with no related allowance recorded | 353 | |
Unpaid principal balance of impaired loans with an allowance recorded | 1,308 | 1,295 |
Recorded investment of impaired loans with an allowance recorded | 1,169 | 1,179 |
Allowance for loan losses allocated with an allowance recorded | 7 | 8 |
Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 3,489 | 333 |
Recorded investment with no related allowance recorded | 3,134 | 309 |
Unpaid principal balance of impaired loans with an allowance recorded | 7,817 | 7,776 |
Recorded investment of impaired loans with an allowance recorded | 6,841 | 6,932 |
Allowance for loan losses allocated with an allowance recorded | 32 | 32 |
Consumer [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 47 | |
Recorded investment with no related allowance recorded | 43 | |
Unpaid principal balance of impaired loans with an allowance recorded | 146 | |
Recorded investment of impaired loans with an allowance recorded | 141 | |
Allowance for loan losses allocated with an allowance recorded | 1 | |
Impaired Loans With No Related Allowance Recorded [Member] [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance with no related allowance recorded | 27,488 | 22,308 |
Recorded investment with no related allowance recorded | 19,741 | 15,465 |
Impaired Loans With Related Allowance Recorded [Member] | ||
Loans [Line Items] | ||
Unpaid principal balance of impaired loans with an allowance recorded | 18,940 | 19,043 |
Recorded investment of impaired loans with an allowance recorded | 15,081 | 15,408 |
Allowance for loan losses allocated with an allowance recorded | $ 1,239 | $ 1,500 |
Loans - (Impaired Loans - Avera
Loans - (Impaired Loans - Average Recorded Investment and Interest Income Recognized) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Loans [Line Items] | ||||
Impaired Financing Receivable, Average Recorded Investment | $ 36,065 | $ 41,073 | $ 36,815 | $ 41,863 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 158 | 95 | 317 | 211 |
Commercial and Industrial [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 5,321 | 6,645 | 5,565 | 7,030 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 90 | 25 | 173 | 73 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 4,607 | 4,643 | 4,639 | 4,630 |
Owner-Occupied [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 6,723 | 3,789 | 6,793 | 3,834 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 17 | 23 | 35 | 41 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,233 | 2,340 | 1,249 | 2,349 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 4 | 7 | 9 | 11 |
Agriculture [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,259 | 1,454 | 1,259 | 1,531 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 6 | |||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 2,142 | 912 | 2,084 | 914 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 1 | 1 | 2 | 3 |
Energy Loans [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,843 | 5,680 | 2,098 | 5,889 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 17 | 37 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,624 | 6,602 | ||
Commercial Loan [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 15,147 | 17,568 | 15,715 | 18,284 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 124 | 48 | 251 | 114 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 7,982 | 14,519 | 7,972 | 14,495 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 5 | 8 | 11 | 14 |
Commercial Construction [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,081 | 1,081 | ||
Commercial Acquisition/Development [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 827 | 856 | ||
Multifamily [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 9 | 31 | 19 | 31 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 1 | |||
Non Owner-Occupied [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 574 | 312 | 591 | 320 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 5 | 12 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 297 | 216 | 308 | 220 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 5 | 2 | 9 | 5 |
Total Commercial Real Estate [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,481 | 312 | 2,528 | 320 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 5 | 12 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 306 | 247 | 327 | 251 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 5 | 2 | 9 | 6 |
Senior lien | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,818 | 330 | 2,846 | 334 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 5,744 | 6,525 | 5,821 | 6,583 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 13 | 20 | 26 | 40 |
Junior lien | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 354 | 358 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,187 | 1,403 | 1,202 | 1,421 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 11 | 12 | 20 | 25 |
Residential Real Estate Segment [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,172 | 330 | 3,204 | 334 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 6,931 | 7,928 | 7,023 | 8,004 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 23 | 32 | 46 | 65 |
Consumer [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 14 | 14 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 31 | 169 | 32 | 175 |
Impaired Loans With No Related Allowance Recorded [Member] [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 20,815 | 18,210 | 21,461 | 18,938 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 124 | 53 | 251 | 126 |
Impaired Loans With Related Allowance Recorded [Member] | ||||
Loans [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 15,250 | 22,863 | 15,354 | 22,925 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | $ 33 | $ 42 | $ 66 | $ 85 |
Loans - Troubled Debt Restructu
Loans - Troubled Debt Restructuring and Loans Accounted for Under ASC Topic 310-30 Narratives (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017loan | Jun. 30, 2018USD ($)loanitem | Jun. 30, 2017loan | |
Debt Instrument [Line Items] | |||
Number of restructured loans | item | 4 | ||
Change in Non-accruing TDRs | $ (3.3) | ||
Troubled Debt Restructurings [Member] | |||
Debt Instrument [Line Items] | |||
TDR's modified within the past year that defaulted on their restructured terms | 3 | 1 | 0 |
Recorded investment | $ 0.9 | ||
Energy Loans [Member] | |||
Debt Instrument [Line Items] | |||
TDR's modified within the past year that defaulted on their restructured terms | loan | 1 | ||
Agriculture and Consumer loans [Member] | |||
Debt Instrument [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0.2 |
Loans - (Additional Informati58
Loans - (Additional Information Related to Accruing TDR's) (Details) - Accruing TDR [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Loans [Line Items] | ||
Recorded investment | $ 6,940 | $ 8,460 |
Average year-to- date recorded investment | 8,222 | 9,261 |
Unpaid principal balance | 7,782 | 9,092 |
Unfunded commitments to fund TDRs | 3,840 | 2,043 |
Commercial [Member] | ||
Loans [Line Items] | ||
Recorded investment | 5,509 | 6,595 |
Average year-to- date recorded investment | 6,754 | 7,308 |
Unpaid principal balance | 6,299 | 7,171 |
Unfunded commitments to fund TDRs | 3,828 | 2,041 |
Commercial Real Estate [Member] | ||
Loans [Line Items] | ||
Recorded investment | 266 | 455 |
Average year-to- date recorded investment | 278 | 489 |
Unpaid principal balance | 311 | 500 |
Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Recorded investment | 1,165 | 1,409 |
Average year-to- date recorded investment | 1,190 | 1,461 |
Unpaid principal balance | 1,172 | 1,420 |
Unfunded commitments to fund TDRs | $ 12 | 2 |
Consumer [Member] | ||
Loans [Line Items] | ||
Recorded investment | 1 | |
Average year-to- date recorded investment | 3 | |
Unpaid principal balance | $ 1 |
Loans - (Summary of Company's C
Loans - (Summary of Company's Carrying Value of Non-Accrual TDR's) (Details) - Non-Accruing TDR [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | $ 3,962 | $ 7,255 |
Commercial [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | 2,698 | 5,808 |
Residential Real Estate Segment [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | $ 1,264 | 1,336 |
Consumer [Member] | ||
Loans [Line Items] | ||
Carrying Value of Non - Accruing TDR's | $ 111 |
Loans - (Re-Measurement of Loan
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, 2018 | Jun. 30, 2017 | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield beginning balance | $ 46,568 | $ 60,476 |
Reclassification from non-accretable difference | 8,053 | 7,732 |
Reclassification to non-accretable difference | (1,695) | (494) |
Accretion | (10,224) | (12,051) |
Accretable yield ending balance | $ 42,702 | $ 55,663 |
Loans - (Composition of Net Boo
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, 2018 | Dec. 31, 2017 | |
Receivables [Abstract] | ||
Contractual cash flows | $ 442,000 | $ 489,892 |
Non-accretable difference | (316,344) | (322,701) |
Accretable yield | (42,702) | (46,568) |
Loans accounted for under ASC 310-30 | $ 82,954 | $ 120,623 |
Allowance for Loan Losses - (Su
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, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | $ 30,686 | $ 30,850 | $ 31,264 | $ 29,174 | |||
Provision (recoupment) for loan losses | 1,914 | 5,820 | |||||
Ending balance | 32,230 | 34,959 | 32,230 | 34,959 | |||
Carrying amount of loan investments | $ 3,825,555 | $ 3,178,947 | $ 3,087,945 | ||||
Loans | 30,686 | 30,850 | 31,264 | 29,174 | 32,230 | 31,264 | 34,959 |
Total Loans | 3,825,555 | 3,178,947 | 3,087,945 | ||||
Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 30,574 | 30,630 | 31,193 | 28,949 | |||
Charge-offs | (335) | (121) | (1,051) | (331) | |||
Recoveries | 67 | 205 | 164 | 296 | |||
Provision (recoupment) for loan losses | 1,723 | 4,103 | 1,723 | 5,903 | |||
Ending balance | 32,029 | 34,817 | 32,029 | 34,817 | |||
Carrying amount of loan investments | 3,742,601 | 3,058,324 | |||||
Loans | 30,574 | 30,630 | 31,193 | 28,949 | 32,029 | 31,193 | 34,817 |
Total Loans | 3,742,601 | 3,058,324 | |||||
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 | 1,239 | 6,244 | |||||
Ending allowance balance collectively evaluated for impairment | 30,790 | 28,573 | |||||
Loans individually evaluated for impairment | 34,822 | 39,379 | |||||
Loans collectively evaluated for impairment | 3,707,779 | 2,914,139 | |||||
ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 112 | 220 | 71 | 225 | |||
Charge-offs | (61) | (61) | |||||
Provision (recoupment) for loan losses | 150 | (78) | 191 | (83) | |||
Ending balance | 201 | 142 | 201 | 142 | |||
Loans individually evaluated for impairment | 201 | ||||||
Carrying amount of loan investments | 82,954 | 120,623 | 134,427 | ||||
Loans | 112 | 220 | 71 | 225 | 201 | 71 | 142 |
Total Loans | 82,954 | 120,623 | 134,427 | ||||
Commercial Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 21,578 | 20,539 | 21,385 | 18,821 | |||
Ending balance | 23,582 | 24,656 | 23,582 | 24,656 | |||
Carrying amount of loan investments | 2,318,118 | 1,775,454 | |||||
Loans | 21,578 | 20,539 | 21,385 | 18,821 | 23,582 | 21,385 | 24,656 |
Total Loans | 2,318,118 | 1,775,454 | |||||
Commercial Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 21,485 | 20,539 | 21,340 | 18,821 | |||
Charge-offs | (437) | (20) | |||||
Recoveries | 13 | 30 | 55 | 41 | |||
Provision (recoupment) for loan losses | 1,902 | 4,087 | 2,442 | 5,814 | |||
Ending balance | 23,400 | 24,656 | 23,400 | 24,656 | |||
Loans | 21,485 | 20,539 | 21,340 | 18,821 | 23,400 | 21,340 | 24,656 |
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 | 1,204 | 6,197 | |||||
Ending allowance balance collectively evaluated for impairment | 22,196 | 18,459 | |||||
Loans individually evaluated for impairment | 22,038 | 30,458 | |||||
Loans collectively evaluated for impairment | 2,273,002 | 1,709,018 | |||||
Commercial Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 93 | 45 | |||||
Charge-offs | (61) | (61) | |||||
Provision (recoupment) for loan losses | 150 | 198 | |||||
Ending balance | 182 | 182 | |||||
Loans individually evaluated for impairment | 182 | ||||||
Carrying amount of loan investments | 23,078 | 35,978 | |||||
Loans | 93 | 45 | 182 | 45 | |||
Total Loans | 23,078 | 35,978 | |||||
Residential Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,928 | 4,216 | 3,965 | 4,387 | |||
Ending balance | 3,781 | 4,067 | 3,781 | 4,067 | |||
Carrying amount of loan investments | 838,035 | 728,511 | |||||
Loans | 3,928 | 4,216 | 3,965 | 4,387 | 3,781 | 3,965 | 4,067 |
Total Loans | 838,035 | 728,511 | |||||
Residential Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,928 | 4,216 | 3,965 | 4,387 | |||
Charge-offs | (90) | (2) | (90) | (10) | |||
Recoveries | 4 | 110 | 6 | 113 | |||
Provision (recoupment) for loan losses | (61) | (257) | (100) | (423) | |||
Ending balance | 3,781 | 4,067 | 3,781 | 4,067 | |||
Loans | 3,928 | 4,216 | 3,965 | 4,387 | 3,781 | 3,965 | 4,067 |
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 | 32 | 45 | |||||
Ending allowance balance collectively evaluated for impairment | 3,749 | 4,022 | |||||
Loans individually evaluated for impairment | 9,974 | 8,205 | |||||
Loans collectively evaluated for impairment | 816,696 | 706,294 | |||||
Residential Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Carrying amount of loan investments | 11,365 | 14,012 | |||||
Total Loans | 11,365 | 14,012 | |||||
Consumer Loan [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 290 | 280 | 305 | 324 | |||
Ending balance | 306 | 302 | 306 | 302 | |||
Carrying amount of loan investments | 26,250 | 26,960 | |||||
Loans | 290 | 280 | 305 | 324 | 306 | 305 | 302 |
Total Loans | 26,250 | 26,960 | |||||
Consumer Loan [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 290 | 276 | 305 | 319 | |||
Charge-offs | (234) | (119) | (513) | (301) | |||
Recoveries | 50 | 55 | 103 | 122 | |||
Provision (recoupment) for loan losses | 200 | 82 | 411 | 154 | |||
Ending balance | 306 | 294 | 306 | 294 | |||
Loans | 290 | 276 | 305 | 319 | 306 | 305 | 294 |
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 | 1 | |||||
Ending allowance balance collectively evaluated for impairment | 305 | 293 | |||||
Loans individually evaluated for impairment | 43 | 165 | |||||
Loans collectively evaluated for impairment | 26,107 | 26,143 | |||||
Consumer Loan [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4 | 5 | |||||
Provision (recoupment) for loan losses | 4 | 3 | |||||
Ending balance | 8 | 8 | |||||
Carrying amount of loan investments | 100 | 652 | |||||
Loans | 4 | 5 | 8 | ||||
Total Loans | 100 | 652 | |||||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,890 | 5,815 | 5,609 | 5,642 | |||
Ending balance | 4,561 | 5,934 | 4,561 | 5,934 | |||
Carrying amount of loan investments | 643,152 | 557,020 | |||||
Loans | 4,890 | 5,815 | 5,609 | 5,642 | 4,561 | 5,609 | 5,934 |
Total Loans | 643,152 | 557,020 | |||||
Commercial Real Estate Portfolio Segment [Member] | Originated and acquired loans [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,871 | 5,599 | 5,583 | 5,422 | |||
Charge-offs | (11) | (11) | |||||
Recoveries | 10 | 20 | |||||
Provision (recoupment) for loan losses | (318) | 191 | (1,030) | 358 | |||
Ending balance | 4,542 | 5,800 | 4,542 | 5,800 | |||
Loans | 4,871 | 5,599 | 5,583 | 5,422 | 4,542 | 5,583 | 5,800 |
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 | 2 | 1 | |||||
Ending allowance balance collectively evaluated for impairment | 4,540 | 5,799 | |||||
Loans individually evaluated for impairment | 2,767 | 551 | |||||
Loans collectively evaluated for impairment | 591,974 | 472,684 | |||||
Commercial Real Estate Portfolio Segment [Member] | ASC 310-30 [Member] | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 19 | 216 | 26 | 220 | |||
Provision (recoupment) for loan losses | (82) | (7) | (86) | ||||
Ending balance | 19 | 134 | 19 | 134 | |||
Loans individually evaluated for impairment | 19 | ||||||
Carrying amount of loan investments | 48,411 | 83,785 | |||||
Loans | $ 19 | $ 216 | $ 26 | $ 220 | 19 | $ 26 | 134 |
Total Loans | $ 48,411 | $ 83,785 |
Allowance for Loan Losses - (Na
Allowance for Loan Losses - (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($)item | |
Allowance For Loan And Lease Losses [Line Items] | ||||
Provision (recoupment) for loan losses | $ 1,914 | $ 5,820 | ||
Impaired loans | $ 14,300 | 14,300 | ||
Energy Loans [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Specific Reserve in Provision | $ 3,400 | |||
Number of Energy Specific Reserves | item | 1 | |||
Impaired loans | 1,100 | 1,100 | ||
Commercial and Industrial [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Specific Reserve in Provision | $ 2,100 | |||
Number of Energy Specific Reserves | item | 1 | |||
Impaired loans | 6,100 | 6,100 | ||
Originated and acquired loans [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Charge-offs, net | 300 | $ 100 | 900 | $ 0 |
Provision (recoupment) for loan losses | 1,723 | 4,103 | 1,723 | 5,903 |
ASC 310-30 [Member] | ||||
Allowance For Loan And Lease Losses [Line Items] | ||||
Provision (recoupment) for loan losses | $ 150 | $ (78) | $ 191 | $ (83) |
Other Real Estate Owned - (Summ
Other Real Estate Owned - (Summary of Activity in OREO Balances) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Other Real Estate [Roll Forward] | ||
Balance | $ 10,491 | $ 15,662 |
Acquired through acquisition | 1,253 | |
Transfers from loan portfolio, at fair value | 24,382 | 639 |
Impairments | (64) | (46) |
Sales, net | (593) | (1,958) |
Balance | $ 35,469 | $ 14,297 |
Other Real Estate Owned - (Narr
Other Real Estate Owned - (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Loans transferred to other real estate owned at fair value | $ 24,382 | $ 639 | |||
Minority interests in OREO which are held by outside banks | $ 700 | ||||
Loss (gain) on OREO sales, net | $ 14 | $ 1,644 | (64) | $ 1,756 | |
ASC 310-30 [Member] | |||||
Loans transferred to other real estate owned at fair value | $ 24,100 |
Goodwill and Intangible Asset66
Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Jan. 01, 2018 | |
Goodwill and Intangible Assets | ||||||
Goodwill acquired | $ 115,027 | $ 115,027 | $ 59,630 | |||
Goodwill Impairment | 0 | 0 | $ 0 | |||
Amortization of acquired identifiable intangibles | 386 | |||||
Mortgage loans serviced | 419,800 | $ 0 | ||||
Peoples Inc [Member] | ||||||
Goodwill and Intangible Assets | ||||||
Goodwill acquired | 55,400 | 55,400 | $ 55,397 | |||
Core Deposits | ||||||
Goodwill and Intangible Assets | ||||||
Intangible assets acquired | 48,800 | 48,800 | ||||
Amortization of acquired identifiable intangibles | 700 | $ 1,400 | $ 1,400 | $ 2,700 | ||
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 | ||||||
Goodwill acquired | 10,500 | $ 10,500 | ||||
Intangible assets acquired | 10,477 | |||||
Mortgage servicing rights | ||||||
Goodwill and Intangible Assets | ||||||
Intangible assets acquired | 4,300 | 4,300 | ||||
Amortization of acquired identifiable intangibles | 200 | 400 | ||||
Valuation allowance | 0 | $ 0 | ||||
Mortgage servicing rights | Minimum | ||||||
Goodwill and Intangible Assets | ||||||
Discount rate (as a percent) | 9.50% | |||||
Prepayment speed rate (as a percent) | 8.60% | |||||
Mortgage servicing rights | Maximum | ||||||
Goodwill and Intangible Assets | ||||||
Discount rate (as a percent) | 10.50% | |||||
Prepayment speed rate (as a percent) | 11.80% | |||||
Mortgage servicing rights | Peoples Inc [Member] | ||||||
Goodwill and Intangible Assets | ||||||
Goodwill acquired | $ 4,300 | $ 4,300 | ||||
Intangible assets acquired | $ 4,301 |
Goodwill and Intangible Asset67
Goodwill and Intangible Assets (Carrying Amounts) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Carrying amount of intangible assets | ||
Net carrying amount | $ 3,915 | |
Core Deposits | ||
Carrying amount of intangible assets | ||
Gross carrying amount | 48,834 | $ 38,357 |
Accumulated amortization | 38,056 | 36,750 |
Net carrying amount | $ 10,778 | $ 1,607 |
Goodwill and Intangible Asset68
Goodwill and Intangible Assets (Changes in Servicing Rights) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018USD ($) | Jun. 30, 2018USD ($) | |
Changes in the mortgage servicing rights | ||
Acquired through acquisition | $ 4,301 | |
Amortization | (386) | |
Ending balance | $ 3,915 | 3,915 |
Fair value of mortgage servicing rights | 4,473 | 4,473 |
Mortgage servicing rights | ||
Changes in the mortgage servicing rights | ||
Amortization | $ (200) | $ (400) |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 2.8 | $ 2.8 | $ 5.7 | ||
Amount of repurchase agreements | $ 73.4 | $ 73.4 | 130.5 | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Earliest | 2,018 | 2,018 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Last | 2,020 | 2,020 | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 966.1 | $ 966.1 | |||
FHLB advances | 77.3 | 77.3 | 129.1 | ||
Interest expense related to FHLB advances | $ 0.6 | $ 0.5 | $ 1.1 | $ 0.7 | |
Minimum | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Interest rate range of FHLB advances | 1.55% | 1.55% | |||
Maximum | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Interest rate range of FHLB advances | 2.33% | 2.33% | |||
Federal Home Loan Bank of Des Moines [Member] | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 26.1 | $ 26.1 | 28.1 | ||
U.S. Treasury Securities [Member] | |||||
Assets Sold under Agreements to Repurchase [Line Items] | |||||
Fair value of collateral | $ 76.2 | $ 76.2 | $ 136.1 |
Regulatory Capital - (Capital R
Regulatory Capital - (Capital Ratio Requirements under Prompt Corrective Action or Other Regulatory Requirements) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage Ratio | 9.90% | 9.80% |
Common equity risk-based ratio | 12.60% | 12.90% |
Risk-based capital Ratio | 12.60% | 12.90% |
Total risk-based capital Ratio | 13.50% | 13.80% |
Leverage Amount | $ 546,964 | $ 470,877 |
Common equity risk-based amount | 546,964 | 470,877 |
Risk-based capital amount | 546,964 | 470,877 |
Total risk-based capital Amount | $ 584,008 | $ 502,917 |
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 | $ 220,575 | $ 191,559 |
Required to be considered adequately capitalized common equity capital amount | 386,006 | 335,228 |
Required to be considered adequately capitalized risk-based capital Amount | 368,452 | 309,400 |
Required to be considered adequately capitalized Total risk-based capital Amount | $ 455,147 | $ 382,200 |
NBH Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Leverage Ratio | 9.00% | 8.10% |
Common equity risk-based ratio | 11.40% | 10.60% |
Risk-based capital Ratio | 11.40% | 10.60% |
Total risk-based capital Ratio | 12.30% | 11.50% |
Leverage Amount | $ 493,193 | $ 382,918 |
Common equity risk-based amount | 493,193 | 382,918 |
Risk-based capital amount | 493,193 | 382,918 |
Total risk-based capital Amount | $ 530,236 | $ 414,958 |
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 | $ 274,980 | $ 237,772 |
Required to be considered well capitalized common equity capital amount | 357,474 | 309,103 |
Required to be considered well capitalized risk-based capital Amount | 345,168 | 289,022 |
Required to be considered well capitalized Total risk-based capital Amount | $ 431,460 | $ 361,277 |
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 | $ 219,984 | $ 190,217 |
Required to be considered adequately capitalized common equity capital amount | 384,972 | 332,881 |
Required to be considered adequately capitalized risk-based capital Amount | 366,741 | 307,086 |
Required to be considered adequately capitalized Total risk-based capital Amount | $ 453,033 | $ 379,341 |
Revenue from Contracts with C71
Revenue from Contracts with Clients - (Non-interest income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Revenue from Contracts with Clients | |||||
Loss (gain) on OREO sales, net | $ 14 | $ 1,644 | $ (64) | $ 1,756 | |
In-scope of Topic 606 | |||||
Revenue from Contracts with Clients | |||||
Total Revenue | 8,666 | 8,331 | 17,281 | 14,789 | |
ASU 2014-09 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 19,562 | 11,956 | 37,398 | 20,652 | |
Contract balances | 0 | 0 | $ 0 | ||
ASU 2014-09 | In-scope of Topic 606 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 8,680 | 9,975 | 17,217 | 16,545 | |
Gain on banking center divestiture | 2,942 | 2,942 | |||
Loss (gain) on OREO sales, net | (14) | (1,644) | 64 | (1,756) | |
ASU 2014-09 | In-scope of Topic 606 | Service Charges and other fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 5,008 | 3,899 | 10,183 | 7,665 | |
ASU 2014-09 | In-scope of Topic 606 | Bank card fees | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | 3,672 | 3,134 | 7,034 | 5,938 | |
ASU 2014-09 | Out-of-scope of Topic 606 | |||||
Revenue from Contracts with Clients | |||||
Non-interest income | $ 10,882 | $ 1,981 | $ 20,181 | $ 4,107 |
Stock-based Compensation and Em
Stock-based Compensation and Employee Benefits - (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation expense | $ 200,000 | $ 200,000 | $ 400,000 | $ 400,000 |
Unrecognized compensation expense | 1,000,000 | $ 1,000,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 6 months | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | 85,754 | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ 33.41 | |||
Stock based compensation expense | 600,000 | 600,000 | $ 1,000,000 | 1,200,000 |
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 | 3,000,000 | $ 3,000,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 3 months 18 days | |||
Market-based stock awards | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | 26,594 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period | 5 years | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ 11.28 | |||
Unrecognized compensation expense | 100,000 | $ 100,000 | ||
Unrecognized compensation cost, weighted-average period, years | 8 months 12 days | |||
Performance stock units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | 77,125 | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ 30.38 | |||
Stock based compensation expense | 400,000 | $ 200,000 | $ 700,000 | $ 400,000 |
Performance stock units | NBH Holdings Corp. 2014 Omnibus Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards granted (in shares) | 77,125 | 49,758 | ||
Unrecognized compensation expense | $ 3,300,000 | $ 3,300,000 | ||
Unrecognized compensation cost, weighted-average period, years | 2 years 2 months 12 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% | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ 32.65 | |||
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% | |||
Weighted average grant-date fair value, Granted (in dollars per share) | $ 27.51 | |||
Employee Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized | 400,000 | 400,000 | ||
Maximum stock purchases by employees, value | $ 25,000 | |||
Maximum stock purchases by employees (in 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 under the ESPP (in shares) | 5,960 | 5,373 | ||
Shares available for issuance | 349,199 | 349,199 | ||
Minimum | Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 1 year | |||
Share Based Compensation Arrangement By Share Based Payment Award Options Granted Contractual Term | 7 years | |||
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 | 0.00% | |||
Maximum | Stock options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period | 4 years | |||
Share Based Compensation Arrangement By Share Based Payment Award Options Granted Contractual Term | 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 | 150.00% |
Stock-based Compensation and 73
Stock-based Compensation and Benefits - (Summary of Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Outstanding Options, beginning | 1,598,318 | |
Granted, Options | 151,937 | |
Forfeited, Options | (17,103) | |
Exercised, Options | (441,161) | |
Outstanding Options, ending | 1,291,991 | 1,598,318 |
Options fully vested and exercisable at end of period, Options | 1,039,372 | |
Options expected to vest, Options | 1,259,359 | |
Outstanding, Weighted average exercise price, beginning | $ 20.62 | |
Granted, Weighted average exercise price | 32.80 | |
Forfeited, Weighted average exercise price | 28.57 | |
Exercised, Weighted average exercise price | 19.90 | |
Outstanding, Weighted average exercised price, ending | 22.20 | $ 20.62 |
Options fully vested and exercisable at end of period, Weighted average exercise price | 20.16 | |
Options expected to vest, Weighted average exercise price | $ 21.94 | |
Outstanding, Weighted average remaining contractual term in years | 4 years 4 months 21 days | 4 years 26 days |
Options fully vested and exercisable at end of period, weighted average remaining contractual term in years | 3 years 3 months | |
Options expected to vest, Weighted average remaining contractual term in years | 4 years 3 months 4 days | |
Outstanding, Aggregate intrinsic value, beginning | $ 19,017 | |
Outstanding, Outstanding, Aggregate intrinsic value, beginning | 21,181 | $ 19,017 |
Aggregate intrinsic Value of Options fully vested and exercisable at end of period | 19,161 | |
Options expected to vest, Aggregate Intrinsic Value | $ 20,965 |
Stock-based Compensation and 74
Stock-based Compensation and Benefits - (Summary of Restricted Stock Activity) (Details) | 6 Months Ended |
Jun. 30, 2018$ / 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 | 163,557 |
Unvested Restricted shares, Vested (in shares) | shares | (80,092) |
Unvested Restricted shares, Granted (in shares) | shares | 85,754 |
Unvested Restricted shares, Forfeited (in shares) | shares | (13,136) |
Unvested Restricted shares, Ending (in shares) | shares | 156,083 |
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 | $ 22.60 |
Weighted average grant-date fair value, Vested (in dollars per share) | $ / shares | 22.82 |
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | 33.41 |
Weighted average grant-date fair value, Forfeited (in dollars per share) | $ / shares | 29.08 |
Weighted average grant-date fair value, Ending (in dollars per share) | $ / shares | $ 27.88 |
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 | 125,082 |
Unvested Restricted shares, Granted (in shares) | shares | 77,125 |
Unvested Restricted shares, Forfeited (in shares) | shares | (9,884) |
Unvested Restricted shares, Ending (in shares) | shares | 192,323 |
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 | $ 23.90 |
Weighted average grant-date fair value, Granted (in dollars per share) | $ / shares | 30.38 |
Weighted average grant-date fair value, Forfeited (in dollars per share) | $ / shares | 26.11 |
Weighted average grant-date fair value, Ending (in dollars per share) | $ / shares | $ 26.39 |
Warrants (Narrative) (Details)
Warrants (Narrative) (Details) - $ / shares | 3 Months Ended | ||
Mar. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | |
Warrants and Rights Note Disclosure [Abstract] | |||
Warrants granted, exercise price per share | $ 20 | $ 20 | $ 20 |
Warrants settled or exercised | 250,750 |
Common Stock - (Narrative) (Det
Common Stock - (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Aug. 05, 2016 | |
Schedule Of Common Stock [Line Items] | |||
Remaining authorized amount | $ 12.6 | ||
Shares outstanding | 30,726,789 | 26,875,585 | |
Common Class A [Member] | |||
Schedule Of Common Stock [Line Items] | |||
Shares outstanding | 30,726,789 | 26,875,585 | |
Restricted issued but not yet vested, shares | 156,083 | 163,557 | |
New Board Authorized Share Repurchase Program | |||
Schedule Of Common Stock [Line Items] | |||
Stock repurchase program, authorized amount | $ 50 |
Earnings Per Share - (Narrative
Earnings Per Share - (Narrative) (Details) - $ / shares | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Mar. 31, 2017 | |
Shares outstanding | 30,726,789 | 26,788,833 | ||
Outstanding stock options to purchase common stock | 1,291,991 | 1,683,867 | 1,598,318 | |
Outstanding stock options to purchase common stock, per share | $ 22.20 | $ 20.61 | $ 20.62 | |
Warrants granted, exercise price per share | $ 20 | $ 20 | $ 20 | |
Restricted shares outstanding | 348,406 | 256,064 | ||
Warrant [Member] | ||||
Dilutive Convertible Securities | 16,627 |
Earnings Per Share - (Schedule
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, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Net income | $ 17,512 | $ 9,209 | $ 25,977 | $ 17,467 |
Less: income allocated to participating securities | (18) | (14) | (31) | (30) |
Income available to common stockholders (numerator) | $ 17,494 | $ 9,195 | $ 25,946 | $ 17,437 |
Weighted average common shares outstanding (denominator) | 30,735,427 | 26,955,187 | 30,615,226 | 26,878,904 |
Weighted average shares outstanding for diluted earnings per common share | 31,387,175 | 27,597,443 | 31,275,359 | 27,637,532 |
Earnings per share-basic (in dollars per share) | $ 0.57 | $ 0.34 | $ 0.85 | $ 0.65 |
Earnings per share-diluted (in dollars per share) | $ 0.56 | $ 0.33 | $ 0.83 | $ 0.63 |
Equity Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Dilutive Convertible Securities | 651,748 | 642,256 | 660,133 | 742,001 |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Dilutive Convertible Securities | 16,627 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Income tax rate | 13.80% | 19.10% | 14.80% | 5.10% |
Effective Income Tax Rate After Stock Compensation Activity | $ 17.7 | $ 18.6 | ||
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 800,000 | $ 500,000 | $ 1,200,000 | $ 3,400,000 |
Derivatives - (FV of Derivative
Derivatives - (FV of Derivatives on the Balance Sheet) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | $ 26,667 | $ 10,489 |
Liability derivatives fair value | 3 | 1,167 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 5,505 | 2,616 |
Liability derivatives fair value | 4,782 | 2,591 |
Other assets [Member] | Interest rate products [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 26,667 | 10,489 |
Liability derivatives fair value | 3 | 1,167 |
Other assets [Member] | Interest rate products [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 4,014 | 2,483 |
Liability derivatives fair value | 3,992 | 2,584 |
Other assets [Member] | Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 1,466 | 128 |
Liability derivatives fair value | 252 | |
Other assets [Member] | Forward Contracts [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | ||
Derivative [Line Items] | ||
Asset derivatives fair value | 25 | 5 |
Liability derivatives fair value | $ 538 | $ 7 |
Derivatives - (Narrative) (Deta
Derivatives - (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Notional amount | $ 178.7 | |
Termination value of derivatives in net liability position | 4 | |
Collateral Already Posted, Aggregate Fair Value | 0.2 | |
Hedged Loans | 506.5 | |
Cumulative fair value hedge adjusmtnet | (27) | |
Interest Rate Lock Commitments [Member] | ||
Derivative [Line Items] | ||
Notional amount | $ 8 | |
Interest Rate Lock Commitments Notional Amount Member | ||
Derivative [Line Items] | ||
Notional amount | 113.5 | |
Forward Contract Notional [Member] | ||
Derivative [Line Items] | ||
Notional amount | 9 | |
Designated as Hedging Instrument [Member] | Interest rate swap derivatives [Member] | ||
Derivative [Line Items] | ||
Notional amount | 468.1 | 417.7 |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest rate swap derivatives [Member] | ||
Derivative [Line Items] | ||
Notional amount | $ 174 | $ 202.2 |
Derivatives - (Derivatives on t
Derivatives - (Derivatives on the Income Statement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Not Designated as Hedging Instrument, Economic Hedge [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | $ (209) | $ (106) | $ 1,396 | $ (209) |
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | 5,288 | (3,169) | 17,340 | (2,105) |
Amount of gain or (loss) recognized in income on hedged items | (5,347) | 2,962 | (17,264) | 1,720 |
Interest rate products [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | 3 | (47) | 124 | (79) |
Interest rate products [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | 5,288 | 17,340 | ||
Amount of gain or (loss) recognized in income on hedged items | (5,347) | (17,264) | ||
Interest rate products [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | (3,169) | (2,105) | ||
Amount of gain or (loss) recognized in income on hedged items | 2,962 | 1,720 | ||
Forward Contracts [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | 305 | 63 | 1,413 | (131) |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument, Economic Hedge [Member] | Other Non-Interest income [Member] | ||||
Derivative [Line Items] | ||||
Amount of gain or (loss) recognized in income on derivatives | $ (517) | $ (122) | $ (141) | $ 1 |
Commitments and Contingencies83
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Commitment And Contingencies [Line Items] | ||
Loan commitments | $ 764.6 | $ 680.8 |
Mortgage Repurchase Reserve | 4 | |
Standby Letters of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Standby letters of credit | $ 8.3 | $ 7.2 |
Commitments and Contingencies84
Commitments and Contingencies (Schedule of Total Unfunded Commitments) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | $ 772,882 | $ 687,946 |
Commitments to fund loans [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | 231,844 | 181,904 |
Unfunded Commitment Line Of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | 532,778 | 498,857 |
Commercial And Standby Letters Of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Total unfunded commitments | $ 8,260 | $ 7,185 |
Fair Value Measurements - (Ta85
Fair Value Measurements - (Tables of Financial Instruments Measured At Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 1,001,292 | $ 872,441 |
Total liabilities at fair value | 4,785 | 3,758 |
Loans held for sale member | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 113,057 | 4,629 |
Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 825 | 829 |
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 | 171,255 | 168,648 |
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 | 683,983 | 685,230 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 999,801 | 872,308 |
Total liabilities at fair value | 3,995 | 3,751 |
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 | 113,057 | 4,629 |
Level 2 [Member] | Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 825 | 829 |
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 | 171,255 | 168,648 |
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 | 683,983 | 685,230 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,491 | 133 |
Total liabilities at fair value | 790 | 7 |
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 | 30,681 | 12,972 |
Total liabilities at fair value | 3,995 | 3,751 |
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 | 30,681 | 12,972 |
Total liabilities at fair value | 3,995 | 3,751 |
Mortgage banking derivatives | Derivative [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 1,491 | 133 |
Total liabilities at fair value | 790 | 7 |
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 | 1,491 | 133 |
Total liabilities at fair value | $ 790 | $ 7 |
Fair Value Measurements - (Ta86
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, 2018USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Beginning Balance | $ 126 |
Realized gain (loss) included in earnings—net mortgage banking derivatives | 575 |
Ending Balance | $ 701 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | Dec. 31, 2017USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | $ 3,825,555 | $ 3,087,945 | $ 3,178,947 |
Impairment on other real estate owned | $ 64 | $ 46 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Number of Loans measured | loan | 6 | 7 | |
Loans | $ 6,300 | $ 14,500 | |
Nonrecurring Loans Reserves | $ 1,200 | $ 6,200 |
Fair Value Measurements - (Inpu
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, 2018 | Jun. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets on a non-recurring basis | $ 74,205 | $ 53,676 |
Losses From Fair Value Changes | 1,153 | 373 |
Impaired loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets on a non-recurring basis | 34,822 | 39,379 |
Losses From Fair Value Changes | 1,089 | 327 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets on a non-recurring basis | 35,469 | 14,297 |
Losses From Fair Value Changes | 64 | $ 46 |
Mortgage servicing rights member | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets on a non-recurring basis | $ 3,915 |
Fair Value Measurements - (Ta89
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) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Total assets at fair value | $ 1,001,292,000 | $ 872,441,000 |
Minimum | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Prepayment speed | $ 8.6 | |
Minimum | Impaired loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraised values Discount rate | 0.00% | |
Minimum | Mortgage servicing rights member | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraised values Discount rate | 9.50% | |
Maximum | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Prepayment speed | $ 11.8 | |
Maximum | Impaired loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraised values Discount rate | 25.00% | |
Maximum | Mortgage servicing rights member | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraised values Discount rate | 10.50% |
Fair Value of Financial Instr90
Fair Value of Financial Instruments - (Schedule of Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Cash and cash equivalents | $ 137,917 | $ 257,364 |
Investment securities available-for-sale (at fair value) | 856,751 | 855,345 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 266,197 | 258,730 |
Non-marketable securities | 20,070 | 15,030 |
Loans held-for-sale | 113,057 | 4,629 |
LIABILITIES: | ||
Time deposits | 1,132,331 | 1,118,050 |
Securities sold under agreements to repurchase | 73,441 | 130,463 |
Federal Home Loan Bank advances | 188,334 | 129,115 |
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) | 171,255 | 168,648 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 178,946 | 204,352 |
Other Residential MBS Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 683,983 | 685,230 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 87,251 | 54,378 |
Other Securities [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 469 | 419 |
Municipal [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 1,044 | 1,048 |
Carrying Amount [Member] | Level 1 [Member] | ||
ASSETS: | ||
Cash and cash equivalents | 137,917 | 257,364 |
Carrying Amount [Member] | Level 2 [Member] | ||
ASSETS: | ||
Non-marketable securities | 20,070 | 15,030 |
Loans held-for-sale | 113,057 | 4,629 |
Accrued interest receivable | 18,147 | 14,255 |
LIABILITIES: | ||
Deposit transaction accounts | 3,499,133 | 2,861,509 |
Time deposits | 1,132,331 | 1,118,050 |
Securities sold under agreements to repurchase | 73,441 | 130,463 |
Federal Home Loan Bank advances | 188,334 | 129,115 |
Accrued interest payable | 6,136 | 5,776 |
Carrying Amount [Member] | Level 3 [Member] | ||
ASSETS: | ||
Loans receivable, net | 3,825,555 | 3,178,947 |
Carrying Amount [Member] | Residential Mortgage Pass-Through Securities Issued or Guaranteed by U.S. Government Agencies or Sponsored Enterprises [Member] | Level 2 [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 171,255 | 168,648 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 178,946 | 204,352 |
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) | 683,983 | 685,230 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 87,251 | 54,378 |
Carrying Amount [Member] | Other Securities [Member] | Level 3 [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 469 | 419 |
Carrying Amount [Member] | Municipal [Member] | Level 2 [Member] | ||
ASSETS: | ||
Municipal obligations | 825 | 829 |
Carrying Amount [Member] | Municipal [Member] | Level 3 [Member] | ||
ASSETS: | ||
Municipal obligations | 219 | 219 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
ASSETS: | ||
Cash and cash equivalents | 137,917 | 257,364 |
Estimated Fair Value [Member] | Level 2 [Member] | ||
ASSETS: | ||
Non-marketable securities | 20,070 | 15,030 |
Loans held-for-sale | 113,057 | 4,629 |
Accrued interest receivable | 18,147 | 14,255 |
LIABILITIES: | ||
Deposit transaction accounts | 3,499,133 | 2,861,509 |
Time deposits | 1,132,331 | 1,118,050 |
Securities sold under agreements to repurchase | 73,441 | 130,463 |
Federal Home Loan Bank advances | 188,579 | 130,300 |
Accrued interest payable | 6,136 | 5,776 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
ASSETS: | ||
Loans receivable, net | 3,776,564 | 3,167,508 |
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: | ||
Investment securities available-for-sale (at fair value) | 171,255 | 168,648 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 175,471 | 204,048 |
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) | 683,983 | 685,230 |
Mortgage-backed securities-residential mortgage pass-through securities issued or guaranteed by U.S. Government agencies or sponsored enterprises held-to-maturity | 84,739 | 52,723 |
Estimated Fair Value [Member] | Other Securities [Member] | Level 3 [Member] | ||
ASSETS: | ||
Investment securities available-for-sale (at fair value) | 469 | 419 |
Estimated Fair Value [Member] | Municipal [Member] | Level 2 [Member] | ||
ASSETS: | ||
Municipal obligations | 825 | 829 |
Estimated Fair Value [Member] | Municipal [Member] | Level 3 [Member] | ||
ASSETS: | ||
Municipal obligations | 219 | 219 |
Interest rate swap derivatives [Member] | Carrying Amount [Member] | Level 2 [Member] | ||
ASSETS: | ||
Derivative asset | 30,681 | 12,972 |
LIABILITIES: | ||
Derivative liability | 3,995 | 3,751 |
Interest rate swap derivatives [Member] | Estimated Fair Value [Member] | Level 2 [Member] | ||
ASSETS: | ||
Derivative asset | 30,681 | 12,972 |
LIABILITIES: | ||
Derivative liability | 3,995 | 3,751 |
Mortgage banking derivatives | Carrying Amount [Member] | Level 3 [Member] | ||
ASSETS: | ||
Derivative asset | 1,491 | 133 |
LIABILITIES: | ||
Derivative liability | 790 | 7 |
Mortgage banking derivatives | Estimated Fair Value [Member] | Level 3 [Member] | ||
ASSETS: | ||
Derivative asset | 1,491 | 133 |
LIABILITIES: | ||
Derivative liability | $ 790 | $ 7 |