Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | PEOPLE'S UTAH BANCORP | |
Entity Central Index Key | 1,636,286 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Trading Symbol | PUB | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 17,790,549 |
UNAUDITED CONSOLIDATED BALANCE
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 29,852 | $ 19,745 |
Interest bearing deposits | 67,930 | 20,428 |
Federal funds sold | 253 | 2,176 |
Total cash and cash equivalents | 98,035 | 42,349 |
Investment securities: | ||
Available-for-sale, at fair value | 326,096 | 332,736 |
Held-to-maturity, at historical cost | 61,471 | 65,882 |
Total investment securities | 387,567 | 398,618 |
Non-marketable equity securities | 1,827 | 2,244 |
Loans held for sale | 15,178 | 17,947 |
Loans: | ||
Loans held for investment | 1,105,398 | 1,047,975 |
Less allowance for loan losses | (16,181) | (15,557) |
Total loans held for investment, net | 1,089,217 | 1,032,418 |
Premises and equipment, net | 22,056 | 22,104 |
Accrued interest receivable | 5,801 | 5,767 |
Deferred income tax assets | 8,248 | 8,606 |
Other real estate owned | 407 | 568 |
Bank-owned life insurance | 19,581 | 19,170 |
Other assets | 5,940 | 6,191 |
Total assets | 1,653,857 | 1,555,982 |
Deposits: | ||
Non-interest bearing deposits | 464,638 | 408,508 |
Interest bearing deposits | 947,201 | 900,677 |
Total deposits | 1,411,839 | 1,309,185 |
Short-term borrowings | 3,188 | 27,204 |
Accrued interest payable | 293 | 314 |
Other liabilities | 13,387 | 9,871 |
Total liabilities | 1,428,707 | 1,346,574 |
Commitments and contingencies | ||
Shareholders’ equity: | ||
Preferred shares, $0.01 par value: 3,000,000 shares authorized, no shares issued | ||
Common shares, $0.01 par value: 30,000,000 shares authorized; 17,790,549 and 17,567,154 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively | 178 | 176 |
Additional paid-in capital | 68,415 | 67,338 |
Retained earnings | 155,573 | 142,223 |
Accumulated other comprehensive income (loss) | 984 | (329) |
Total shareholders’ equity | 225,150 | 209,408 |
Total liabilities and shareholders’ equity | $ 1,653,857 | $ 1,555,982 |
UNAUDITED CONSOLIDATED BALANCE3
UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Preferred shares, par value | $ 0.01 | $ 0.01 |
Preferred shares, authorized | 3,000,000 | 3,000,000 |
Preferred shares, issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 17,790,549 | 17,567,154 |
Common stock, shares outstanding | 17,790,549 | 17,567,154 |
UNAUDITED CONSOLIDATED STATEMEN
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income | ||||
Interest and fees on loans | $ 16,876 | $ 15,095 | $ 49,147 | $ 43,250 |
Interest and dividends on investments | 1,471 | 1,424 | 4,563 | 4,171 |
Total interest income | 18,347 | 16,519 | 53,710 | 47,421 |
Interest expense | 710 | 730 | 2,162 | 2,230 |
Net interest income | 17,637 | 15,789 | 51,548 | 45,191 |
Provision for loan losses | 325 | 200 | 750 | 800 |
Net interest income after provision for loan losses | 17,312 | 15,589 | 50,798 | 44,391 |
Non-interest income | ||||
Service charges on deposit accounts | 582 | 613 | 1,626 | 1,870 |
Card processing | 1,129 | 1,079 | 3,296 | 3,147 |
Mortgage banking | 2,244 | 1,841 | 6,269 | 5,638 |
Other operating | 431 | 432 | 1,356 | 1,597 |
Total non-interest income | 4,386 | 3,965 | 12,547 | 12,252 |
Non-interest expense | ||||
Salaries and employee benefits | 7,674 | 7,323 | 23,517 | 21,825 |
Occupancy, equipment and depreciation | 1,101 | 969 | 3,165 | 2,914 |
Data processing | 665 | 729 | 2,112 | 2,020 |
FDIC premiums | 124 | 186 | 507 | 564 |
Card processing | 509 | 512 | 1,648 | 1,516 |
Marketing and advertising | 301 | 279 | 760 | 656 |
Other | 1,528 | 1,446 | 4,728 | 4,651 |
Total non-interest expense | 11,902 | 11,444 | 36,437 | 34,146 |
Income before income tax expense | 9,796 | 8,110 | 26,908 | 22,497 |
Income tax expense | 3,548 | 2,844 | 9,840 | 7,769 |
Net income | $ 6,248 | $ 5,266 | $ 17,068 | $ 14,728 |
Earnings per common share: | ||||
Basic | $ 0.35 | $ 0.30 | $ 0.96 | $ 0.93 |
Diluted | $ 0.34 | $ 0.29 | $ 0.94 | $ 0.90 |
Weighted average common shares outstanding: | ||||
Basic | 17,764,647 | 17,467,161 | 17,711,899 | 15,821,403 |
Diluted | 18,248,008 | 18,105,766 | 18,182,053 | 16,374,034 |
UNAUDITED CONSOLIDATED STATEME5
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 6,248 | $ 5,266 | $ 17,068 | $ 14,728 |
Other comprehensive income | ||||
Unrealized holding gains (losses) on securities available for sale | (779) | 761 | 2,125 | 799 |
Tax effect | (298) | 285 | 812 | 301 |
Unrealized holding gains (losses) on securities available for sale, net of tax | (481) | 476 | 1,313 | 498 |
Total comprehensive income | $ 5,767 | $ 5,742 | $ 18,381 | $ 15,226 |
UNAUDITED CONSOLIDATED STATEME6
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Shares | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Balance, beginning at Dec. 31, 2014 | $ 157,659 | $ 148 | $ 31,137 | $ 125,595 | $ 779 |
Balance, beginning, Shares at Dec. 31, 2014 | 14,758,121 | ||||
Comprehensive income | 15,226 | 14,728 | 498 | ||
Cash dividends declared | (1,935) | (1,935) | |||
Share-based compensation | 363 | 363 | |||
Issuance of common shares | 34,897 | $ 27 | 34,870 | ||
Issuance of common shares, Shares | 2,657,000 | ||||
Exercise of stock options | 399 | 399 | |||
Exercise of stock options, Shares | 76,431 | ||||
Balance, ending at Sep. 30, 2015 | 206,609 | $ 175 | 66,769 | 138,388 | 1,277 |
Balance, ending, Shares at Sep. 30, 2015 | 17,491,552 | ||||
Balance, beginning at Dec. 31, 2015 | $ 209,408 | $ 176 | 67,338 | 142,223 | (329) |
Balance, beginning, Shares at Dec. 31, 2015 | 17,567,154 | 17,567,154 | |||
Comprehensive income | $ 18,381 | 17,068 | 1,313 | ||
Cash dividends declared | (3,718) | (3,718) | |||
Share-based compensation | 410 | 410 | |||
Exercise of stock options | 669 | $ 2 | 667 | ||
Exercise of stock options, Shares | 223,395 | ||||
Balance, ending at Sep. 30, 2016 | $ 225,150 | $ 178 | $ 68,415 | $ 155,573 | $ 984 |
Balance, ending, Shares at Sep. 30, 2016 | 17,790,549 | 17,790,549 |
UNAUDITED CONSOLIDATED STATEME7
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividends declared per share | $ 0.21 | $ 0.12 |
UNAUDITED CONSOLIDATED STATEME8
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 17,068 | $ 14,728 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 750 | 800 |
Depreciation and amortization | 1,916 | 1,901 |
Net gain on sales of other real estate owned | (153) | |
Deferred income taxes | (455) | (26) |
Net amortization of securities discounts and premiums | 2,254 | 2,354 |
Other | 406 | 344 |
Gain on sale of loans held for sale | (4,787) | (4,086) |
Originations of loans held for sale | (199,991) | (173,366) |
Proceeds from sale of loans held for sale | 207,547 | 179,817 |
Net changes in: | ||
Accrued interest receivable | (34) | (657) |
Other assets | (160) | (13,461) |
Accrued interest payable | (21) | (31) |
Other liabilities | 3,516 | 5,419 |
Net cash provided by operating activities | 28,009 | 13,583 |
Cash flows from investing activities: | ||
Net change in loans held for investment | (57,786) | (53,431) |
Purchase of available-for-sale securities | (100,372) | (105,728) |
Purchase of held-to-maturity securities | (1,764) | (22,532) |
Proceeds from maturities/sales of available-for-sale securities | 107,340 | 88,917 |
Proceeds from maturities of held-to-maturity securities | 5,718 | 8,196 |
Purchase of premises and equipment | (1,864) | (2,668) |
Proceeds from sale of other real estate owned, net of improvements | 399 | 1,207 |
Purchase of non-marketable equity securities | (2,663) | |
Proceeds from sale of non-marketable equity securities | 3,080 | 984 |
Net cash provided by (used in) investing activities | (47,912) | (85,055) |
Cash flows from financing activities: | ||
Net increase in non-interest bearing deposits | 56,130 | 101,777 |
Net increase in interest bearing deposits | 46,524 | 31,863 |
Issuance of common shares | 34,897 | |
Proceeds related to exercise of stock options | 669 | 399 |
Net change in short-term borrowings | (24,016) | 918 |
Cash dividends paid | (3,718) | (4,001) |
Net cash provided by financing activities | 75,589 | 165,853 |
Net change in cash and cash equivalents | 55,686 | 94,381 |
Cash and cash equivalents, beginning of period | 42,349 | 47,702 |
Cash and cash equivalents, end of period | 98,035 | 142,083 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 1,915 | 2,032 |
Income taxes paid | 9,163 | 7,380 |
Supplemental disclosures of non-cash transactions: | ||
Reclassifications from loans to other real estate owned | 237 | |
Unrealized gains on securities available for sale | $ 2,125 | $ 799 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Basis Of Presentation [Abstract] | |
Basis of Presentation | PEOPLE’S UTAH BANCORP AND SUBSIDIARIES NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Note 1 — Basis of Presentation People’s Utah Bancorp, Inc. (“PUB” or the “Company”) is a Utah corporation headquartered in American Fork, Utah. The Company’s subsidiary is People’s Intermountain Bank (“PIB” or the “Bank”), which includes two banking divisions doing business as (“dba”) Bank of American Fork (“BAF”) and Lewiston State Bank (“LSB”) and an equipment leasing division dba GrowthFunding Equipment Finance. BAF and LSB have over 100 years of history and will continue to do business as registered names of PIB. The interim consolidated financial statements include the accounts of the Company together with its subsidiary Bank. All intercompany transactions and balances have been eliminated. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial information. In the opinion of management, the interim statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis and all such adjustments are of a normal recurring nature. These financial statements and the accompanying notes should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2015 which are included in the Company’s 2015 Form 10-K. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or any other period. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of real estate acquired through foreclosure, deferred tax assets, and share-based compensation. Earnings per share — Basic earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares includes shares that may be issued by the Company for outstanding stock options determined using the treasury stock method and for all outstanding restricted stock units (“RSU”). Earnings per common share have been computed based on the following: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share and per share data) 2016 2015 2016 2015 Numerator Net income $ 6,248 $ 5,266 $ 17,068 $ 14,728 Denominator Weighted-average number of common shares outstanding 17,764,647 17,467,161 17,711,899 15,821,403 Incremental shares assumed for stock options and RSUs 483,361 638,605 470,154 552,631 Weighted-average number of dilutive shares outstanding 18,248,008 18,105,766 18,182,053 16,374,034 Basic earnings per common share $ 0.35 $ 0.30 $ 0.96 $ 0.93 Diluted earnings per common share $ 0.34 $ 0.29 $ 0.94 $ 0.90 Note 1 — Basis of Presentation – Continued Reclassificat ions — Certain amounts in the prior period’s financial statements have been reclassified to conform to the current period’s presentation. Impact of Recent Authoritative Accounting Guidance — The Financial Accounting Standards Board issued Accounting Standards Codification (“ASC”) 2016-13, The standard significantly changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard replaces today’s “incurred loss” approach with an “expected loss” model for instruments such as loans and held-to-maturity securities that are measured at amortized cost. The standard requires credit losses relating to available-for-sale debt securities to be recorded through an allowance for credit losses rather than a reduction of the carrying amount. It also changes the accounting for purchased credit-impaired debt securities and loans. The standard retains many of the current disclosure requirements in current GAAP and expands certain disclosure requirements. While we expect this standard will have a material impact on the Company’s financial statements, we are still in the process of conducting our evaluation. The standard will become effective for the Company in the first quarter of 2020. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 2 — Investment Securities Amortized cost and approximate fair values of investment securities available for sale are summarized as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (in thousands) Cost Gains Months Longer Value As of September 30, 2016 U.S. Government-sponsored securities $ 117,241 $ 112 $ (91 ) $ — $ 117,262 Municipal securities 28,479 724 (4 ) — 29,199 Mortgage-backed securities 168,783 1,808 (186 ) (346 ) 170,059 Corporate securities 10,000 5 (32 ) (397 ) 9,576 $ 324,503 $ 2,649 $ (313 ) $ (743 ) $ 326,096 As of December 31, 2015 U.S. Government-sponsored securities $ 104,591 $ 11 $ (612 ) $ - $ 103,990 Municipal securities 36,820 926 (7 ) (9 ) 37,730 Mortgage-backed securities 181,857 940 (724 ) (687 ) 181,386 Corporate securities 10,000 - (253 ) (117 ) 9,630 $ 333,268 $ 1,877 $ (1,596 ) $ (813 ) $ 332,736 Carrying amounts and estimated fair values of securities held-to-maturity are as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (in thousands) Cost Gains Months Longer Value As of September 30, 2016 Municipal securities $ 59,239 $ 584 $ (13 ) $ (7 ) $ 59,803 Certificates of deposit 2,232 1 — — 2,233 $ 61,471 $ 585 $ (13 ) $ (7 ) $ 62,036 As of December 31, 2015 Municipal securities $ 63,650 $ 238 $ (74 ) $ (2 ) $ 63,812 Certificates of deposit 2,232 5 - — 2,237 $ 65,882 $ 243 $ (74 ) $ (2 ) $ 66,049 Note 2 — Investment Securities – continued The amortized cost and estimated fair values of investment securities that are available-for-sale and held-to-maturity at September 30, 2016, by contractual maturity, are as follows: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair (in thousands) Cost Value Cost Value Securities maturing in: One year or less $ 21,055 $ 21,140 $ 10,767 $ 10,772 After one year through five years 123,786 124,171 39,850 40,175 After five years through ten years 71,359 71,661 10,854 11,089 After ten years 108,303 109,124 — — $ 324,503 $ 326,096 $ 61,471 $ 62,036 Expected maturities may differ from contractual maturities because issuers may have the right to call obligations with or without penalties. As of September 30, 2016 and December 31, 2015, the Company held 131 and 234 investment securities, respectively, with fair values less than amortized cost. Management evaluated these investment securities and determined that the decline in value is temporary and related to the change in market interest rates since purchase. The decline in value is not related to any company or industry specific event. The Company anticipates full recovery of the amortized cost with respect to these securities at maturity, or sooner in the event of a more favorable market interest rate environment. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Note 3 — Loans and Allowance for Loan Losses Loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Loans held for investment: Commercial real estate loans: Real estate term $ 578,462 $ 577,804 Construction and land development 235,350 179,664 Total commercial real estate loans 813,812 757,468 Commercial and industrial loans 205,443 208,277 Consumer loans: Residential and home equity 75,571 71,169 Consumer and other 15,062 14,945 Total consumer loans 90,633 86,114 Total gross loans 1,109,888 1,051,859 Less: Net deferred loan fees (4,490 ) (3,884 ) Total loans held for investment 1,105,398 1,047,975 Less: allowance for loan losses (16,181 ) (15,557 ) Total loans held for investment, net $ 1,089,217 $ 1,032,418 Note 3 — Loans and Allowance for Loan Losses – Continued Changes in the allowance for loan losses (“ALLL”) are as follows: Three Months Ended September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 Additions: Provisions for loan losses (426 ) 413 411 (24 ) (49 ) 325 Deductions: Gross loan charge-offs — — (558 ) — (57 ) (615 ) Recoveries 3 148 81 8 79 319 Net loan charge-offs 3 148 (477 ) 8 22 (296 ) Balance at end of period $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Three Months Ended September 30, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 5,184 $ 3,852 $ 5,694 $ 692 $ 233 $ 15,655 Additions: Provisions for loan losses 1,381 (78 ) (1,133 ) (15 ) 45 200 Deductions: Gross loan charge-offs (1 ) (151 ) (201 ) - (53 ) (406 ) Recoveries 5 2 31 16 24 78 Net loan charge-offs 4 (149 ) (170 ) 16 (29 ) (328 ) Balance at end of period $ 6,569 $ 3,625 $ 4,391 $ 693 $ 249 $ 15,527 Nine Months Ended September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,783 $ 3,984 $ 3,941 $ 603 $ 246 $ 15,557 Additions: Provisions for loan losses (349 ) 1,108 202 (80 ) (131 ) 750 Deductions: Gross loan charge-offs — — (630 ) — (177 ) (807 ) Recoveries 12 194 189 89 197 681 Net loan charge-offs 12 194 (441 ) 89 20 (126 ) Balance at end of period $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Note 3 — Loans and Allowance for Loan Losses – Continued Nine Months Ended September 30, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 5,181 $ 4,425 $ 4,608 $ 671 $ 266 $ 15,151 Additions: Provisions for loan losses 1,316 (442 ) (129 ) (41 ) 96 800 Deductions: Gross loan charge-offs (2 ) (396 ) (235 ) - (174 ) (807 ) Recoveries 74 38 147 63 61 383 Net loan charge-offs 72 (358 ) (88 ) 63 (113 ) (424 ) Balance at end of period $ 6,569 $ 3,625 $ 4,391 $ 693 $ 249 $ 15,527 Non-accrual loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Non-accrual loans, not troubled debt restructured: Real estate term $ 2,483 $ 2,961 Construction and land development 85 56 Commercial and industrial 605 1,176 Residential and home equity 152 631 Consumer and other 69 88 Total non-accrual loans, not troubled debt restructured 3,394 4,912 Troubled debt restructured loans, non-accrual: Real estate term 824 1,153 Construction and land development 667 1,329 Commercial and industrial 17 21 Residential and home equity — — Consumer and other — — Total troubled debt restructured loans, non-accrual 1,508 2,503 Total non-accrual loans $ 4,902 $ 7,415 Troubled debt restructured loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Accruing troubled debt restructured loans $ 6,006 $ 7,049 Non-accrual troubled debt restructured loans 1,508 2,503 Total troubled debt restructured loans $ 7,514 $ 9,552 A restructured loan is considered a troubled debt restructured loan (“TDR”), if the Company, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession in terms or a below-market interest rate to the debtor that it would not otherwise consider. Each TDR loan is separately negotiated with the borrower and includes terms and conditions that reflect the borrower’s prospective ability to service the debt as modified. Note 3 — Loans and Allowance for Loan Losses – Continued Current and past due loans held for investment (accruing and non-accruing) are summarized as follows: September 30, 2016 30-89 Days 90+ Days Total Total (in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 574,515 $ 640 $ — $ 3,307 $ 3,947 $ 578,462 Construction and land development 234,000 598 — 752 1,350 235,350 Total commercial real estate 808,515 1,238 — 4,059 5,297 813,812 Commercial and industrial 204,327 494 — 622 1,116 205,443 Consumer: Residential and home equity 74,953 466 — 152 618 75,571 Consumer and other 14,765 226 2 69 297 15,062 Total consumer 89,718 692 2 221 915 90,633 Total gross loans $ 1,102,560 $ 2,424 $ 2 $ 4,902 $ 7,328 $ 1,109,888 December 31, 2015 30-89 Days 90+ Days Total Total (in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 567,886 $ 5,804 $ — $ 4,114 $ 9,918 $ 577,804 Construction and land development 170,495 7,784 — 1,385 9,169 179,664 Total commercial real estate 738,381 13,588 — 5,499 19,087 757,468 Commercial and industrial 205,765 1,315 — 1,197 2,512 208,277 Consumer: Residential and home equity 69,950 588 — 631 1,219 71,169 Consumer and other 14,596 258 3 88 349 14,945 Total consumer 84,546 846 3 719 1,568 86,114 Total gross loans $ 1,028,692 $ 15,749 $ 3 $ 7,415 $ 23,167 $ 1,051,859 Credit Quality Indicators: In addition to past due and non-accrual criteria, the Company also analyzes loans using a loan grading system. Performance-based grading follows the Company’s definitions of Pass, Special Mention, Substandard and Doubtful, which are consistent with published definitions of regulatory risk classifications. Definitions of Pass, Special Mention, Substandard and Doubtful are summarized as follows: Pass : A Pass asset is higher quality and does not fit any of the other categories described below. The likelihood of loss is considered remote. Special Mention : A Special Mention asset has potential weaknesses that may be temporary or, if left uncorrected, may result in a loss. While concerns exist, the Company is currently protected and loss is considered unlikely and not imminent. Substandard : A Substandard asset is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified have well defined weaknesses and are characterized by the distinct possibility that the Company may sustain some loss if deficiencies are not corrected. Doubtful : A Doubtful asset has all the weaknesses inherent in a Substandard asset with the added characteristics that the weaknesses make collection or liquidation in full highly questionable. For Consumer loans, the Company generally assigns internal risk grades similar to those described above based on payment performance. Note 3 — Loans and Allowance for Loan Losses – Continued Outstanding loan balances (accruing and non-accruing) categorized by these credit quality indicators are summarized as follows: September 30, 2016 Special Substandard Total Total (in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 557,377 $ 13,078 $ 8,007 $ 578,462 $ 6,446 Construction and land development 229,804 2,250 3,296 235,350 5,286 Total commercial real estate 787,181 15,328 11,303 813,812 11,732 Commercial and industrial 197,741 899 6,803 205,443 3,702 Consumer loans: Residential and home equity 71,763 1,918 1,890 75,571 612 Consumer and other 14,928 1 133 15,062 135 Total consumer 86,691 1,919 2,023 90,633 747 Total $ 1,071,613 $ 18,146 $ 20,129 $ 1,109,888 $ 16,181 December 31, 2015 Special Substandard Total Total (in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 551,001 $ 16,326 $ 10,477 $ 577,804 $ 6,783 Construction and land development 172,368 2,934 4,362 179,664 3,984 Total commercial real estate 723,369 19,260 14,839 757,468 10,767 Commercial and industrial 195,611 5,626 7,040 208,277 3,941 Consumer loans: Residential and home equity 67,088 1,666 2,415 71,169 603 Consumer and other 14,816 36 93 14,945 246 Total consumer 81,904 1,702 2,508 86,114 849 Total $ 1,000,884 $ 26,588 $ 24,387 $ 1,051,859 $ 15,557 The ALLL and outstanding loan balances reviewed according to the Company’s impairment method are summarized as follows: September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 271 $ 67 $ 664 $ 76 $ - $ 1,078 Collectively evaluated for impairment 6,175 5,219 3,038 536 135 15,103 Total $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Outstanding loan balances: Individually evaluated for impairment $ 7,910 $ 3,285 $ 6,879 $ 1,503 $ 14 $ 19,591 Collectively evaluated for impairment 570,552 232,065 198,564 74,068 15,048 1,090,297 Total gross loans $ 578,462 $ 235,350 $ 205,443 $ 75,571 $ 15,062 $ 1,109,888 Note 3 — Loans and Allowance for Loan Losses – Continued December 31, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 283 $ 67 $ 1,078 $ 79 $ 15 $ 1,522 Collectively evaluated for impairment 6,500 3,917 2,863 524 231 14,035 Total $ 6,783 $ 3,984 $ 3,941 $ 603 $ 246 $ 15,557 Outstanding loan balances: Individually evaluated for impairment $ 10,225 $ 4,219 $ 7,009 $ 2,451 $ 15 $ 23,919 Collectively evaluated for impairment 567,579 175,445 201,268 68,718 14,930 1,027,940 Total gross loans $ 577,804 $ 179,664 $ 208,277 $ 71,169 $ 14,945 $ 1,051,859 Information on impaired loans is summarized as follows: September 30, 2016 Recorded Investment Unpaid Total Principal With No With Recorded Related (in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 8,104 $ 5,032 $ 2,878 $ 7,910 $ 271 Construction and land development 5,137 3,081 204 3,285 67 Total commercial real estate 13,241 8,113 3,082 11,195 338 Commercial and industrial 7,362 4,076 2,803 6,879 664 Consumer loans: Residential and home equity 1,562 1,096 407 1,503 76 Consumer and other 14 14 - 14 - Total consumer 1,576 1,110 407 1,517 76 Total $ 22,179 $ 13,299 $ 6,292 $ 19,591 $ 1,078 December 31, 2015 Recorded Investment Unpaid Total Principal With No With Recorded Related (in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 10,430 $ 7,266 $ 2,959 $ 10,225 $ 283 Construction and land development 6,055 4,007 212 4,219 67 Total commercial real estate 16,485 11,273 3,171 14,444 350 Commercial and industrial 7,562 3,510 3,499 7,009 1,078 Consumer loans: Residential and home equity 2,514 2,019 432 2,451 79 Consumer and other 58 15 - 15 15 Total consumer 2,572 2,034 432 2,466 94 Total $ 26,619 $ 16,817 $ 7,102 $ 23,919 $ 1,522 Note 3 — Loans and Allowance for Loan Losses – Concluded The interest income recognized on impaired loans was as follows: Three Months Ended September 30, 2016 September 30, 2015 Average Interest Average Interest Recorded Income Recorded Income (in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 8,990 $ 65 $ 10,440 $ 85 Construction and land development 3,528 54 5,161 109 Total commercial real estate 12,518 119 15,601 194 Commercial and industrial 6,353 88 5,024 44 Consumer loans: Residential and home equity 1,971 23 2,819 24 Consumer and other 15 1 32 - Total consumer 1,986 24 2,851 24 Total $ 20,857 $ 231 $ 23,476 $ 262 Nine Months Ended September 30, 2016 September 30, 2015 Average Interest Average Interest Recorded Income Recorded Income (in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 9,067 $ 218 $ 11,792 $ 300 Construction and land development 3,752 156 5,234 255 Total commercial real estate 12,819 374 17,026 555 Commercial and industrial 6,944 273 5,004 136 Consumer loans: Residential and home equity 1,977 57 3,179 93 Consumer and other 15 1 32 1 Total consumer 1,992 58 3,211 94 Total $ 21,755 $ 705 $ 25,241 $ 785 Loans and Deposits to affiliates — The Company has entered into loan transactions with certain directors, affiliated companies and executive committee members (“affiliates”). Such transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other customers, and did not, in the opinion of management, involve more than normal credit risk or present other unfavorable features. Total outstanding loans with affiliates were approximately $336,000 and $48,000 as of September 30, 2016 and December 31, 2015, respectively. Available lines of credit for loans and credit cards to affiliates were approximately $533,000 as of September 30, 2016. Deposits held by affiliates were $8.6 million and $7.9 million as of September 30, 2016 and December 31, 2015, respectively. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 4 — Income Taxes Income tax expense was $9.8 million and $7.8 million for the nine months ended September 30, 2016 and 2015, respectively. The Company’s effective tax rate was 36.6% and 34.5% for the nine months ended September 30, 2016 and 2015, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 5 — Commitments and Contingencies Litigation contingencies— The Company is involved in various claims, legal actions and complaints which arise in the ordinary course of business. In the Company’s opinion, all such matters are adequately covered by insurance, are without merit or are of such kind, or involve such amounts, that unfavorable disposition would not have a material adverse effect on the financial condition or results of operations of the Company. Commitments to extend credit — In the normal course of business, the Company has outstanding commitments and contingent liabilities, such as commitments to extend credit and unused credit card lines, which are not included in the accompanying consolidated financial statements. The Company’s exposure to credit loss in the event of non-performance by other parties to the financial instruments for commitments to extend credit and unused credit card lines is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making such commitments as it does for instruments that are included in the consolidated balance sheets. Contractual amounts of off-balance sheet financial instruments were as follows: September 30, December 31, (in thousands) 2016 2015 Commitments to extend credit, including unsecured commitments of $13,419 and $12,869 as of September 30, 2016 and December 31, 2015, respectively $ 481,566 $ 382,928 Stand-by letters of credit and bond commitments, including unsecured commitments of $668 and $1,391 as of September 30, 2016 and December 31, 2015, respectively 33,322 36,333 Unused credit card lines, all unsecured 26,488 25,512 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments to extend credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the customer. Unused credit card lines are commitments for possible future extensions of credit to existing customers. These lines of credit are uncollateralized and usually do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. |
Regulatory Capital Matters
Regulatory Capital Matters | 9 Months Ended |
Sep. 30, 2016 | |
Banking And Thrift [Abstract] | |
Regulatory Capital Matters | Note 6 — Regulatory Capital Matters The consolidated Tier 1 Leverage ratio increased from 13.42% at December 31, 2015 to 13.93% as of September 30, 2016. Federal Reserve Board Regulations require maintenance of certain minimum reserve balances based on certain average deposits which as of September 30, 2016 and December 31, 2015 were $8.6 million and $8.7 million, respectively. The Company’s Board of Directors may declare a cash or stock dividend out of retained earnings provided the regulatory minimum capital ratios are met. The Company plans to maintain capital ratios that meet the well-capitalized standards per the regulations and, therefore, plans to limit dividends to amounts that are appropriate to maintain those well-capitalized regulatory capital ratios. |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2016 | |
Stockholders Equity Note [Abstract] | |
Stockholders' Equity | Note 7 — Shareholders’ Equity The Board of Directors began declaring quarterly dividends in April 2015. Dividends on quarterly earnings are generally declared and paid subsequent to the end of the quarter. |
Incentive Share-Based Plan and
Incentive Share-Based Plan and Other Employee Benefits | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Incentive Share-Based Plan and Other Employee Benefits | Note 8 — Incentive Share-Based Plan and Other Employee Benefits In June 2014, the Board of Directors (“Board”) and shareholders of the Company approved a share-based incentive plan (“the Plan”). The Plan provides for various share-based incentive awards including incentive share-based options, non-qualified share-based options, restricted shares, and stock appreciation rights to be granted to officers, directors and other key employees. The maximum aggregate number of shares that may be issued under the Plan is 800,000 common shares. The share-based awards are granted to participants under the Plan at a price not less than the fair value on the date of grant and for terms of up to ten years. The Plan also allows for granting of share-based awards to directors and consultants who are not employees of the Company. During the nine months ended September 30, 2016, the Company granted options for the purchase of 86,831 common shares, which have a weighted average exercise price of $15.66 per share and a weighted average fair value as of the date of grant of $2.26 per share. Additionally, the Company granted 3,866 restricted stock units (“RSU”) at a weighted-average fair value of $16.50 per unit. The options and RSU’s generally vest over periods from one to three years. The Company recorded share-based compensation expense of $410,000 and $363,000 for the nine months ended September 30, 2016 and 2015, respectively. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 9 — Fair Value Fair value measurements — Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, GAAP has established a hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Note 9 — Fair Value The following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation methodology: Investment securities, available for sale — Where quoted prices are available in an active market, securities are classified within Level 1 of the hierarchy. Level 1 includes securities that have quoted prices in an active market for identical assets. If quoted market prices are not available, then fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows, and accordingly, are classified as Level 2 or 3. The Company has categorized its available-for-sale investment securities as Level 1 or 2. Impaired loans and other real estate owned — Fair value applies to loans and other real estate owned measured for impairment. Impaired loans are measured at an observable market price (if available) or at the fair value of the loan’s collateral (if collateral dependent). Fair value of the loan’s collateral is determined by appraisals or independent valuation which is then adjusted for the cost related to liquidation of the collateral. The Company has categorized its impaired loans and other real estate owned as Level 2. Assets measured at fair value are summarized as follows: (in thousands) Level 1 Level 2 Level 3 Total As of September 30, 2016 Fair valued on a recurring basis: Investment securities available for sale $ 4,709 $ 321,387 $ — $ 326,096 Fair valued on a non-recurring basis: Impaired loans — 5,214 — 5,214 Other real estate owned — 407 — 407 As of December 31, 2015 Fair valued on a recurring basis: Investment securities available for sale $ 2,017 $ 330,719 $ — $ 332,736 Fair valued on a non-recurring basis: Impaired loans — 5,580 — 5,580 Other real estate owned — 460 — 460 Note 9 — Fair Value Fair value of financial instruments — The following table summarizes carrying amounts, estimated fair values and assumptions used to estimate fair values of financial instruments: Carrying Estimated (in thousands) Value Fair Value As of December 31, 2015 Financial Assets: Net loans held for investment $ 1,032,418 $ 1,029,540 Financial Liabilities: Interest bearing deposits 900,677 901,211 The fair values of financial assets and liabilities as of September 30, 2016 were not presented because the assumptions used to estimate fair values have not changed significantly from those used at December 31, 2015. The above summary excludes financial assets and liabilities for which carrying value approximates fair value. For financial assets, these include cash and cash equivalents, held-to-maturity securities (see Note 2), loans held for sale, bank-owned life insurance, accrued interest receivable and FHLB stock. For financial liabilities, these include non-interest bearing deposits, short-term borrowings, and accrued interest payable. Also excluded from the summary are financial instruments recorded at fair value on a recurring basis, as previously described. Fair values of off-balance sheet commitments such as lending commitments, standby letters of credit and guarantees are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of the fees as of September 30, 2016 and December 31, 2015 were insignificant. The following methods and assumptions were used to estimate the fair value of financial instruments: Net loans — The fair value is estimated by discounting the future cash flows and estimated prepayments using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining term. Some loan types were valued at carrying value because of their floating rate or expected maturity characteristics. Interest bearing deposits — The fair value of interest bearing deposits is estimated by discounting the estimated future cash flows using the rates currently offered for deposits with similar remaining maturities. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. Fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in the above methodologies and assumptions could significantly affect the estimates. Further, certain financial instruments and all non-financial instruments are excluded from the applicable disclosure requirements. Therefore, the fair value amounts shown in the table do not, by themselves, represent the underlying value of the Company as a whole. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Basis Of Presentation [Abstract] | |
Schedule of Earnings Per Common Share | Earnings per common share have been computed based on the following: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share and per share data) 2016 2015 2016 2015 Numerator Net income $ 6,248 $ 5,266 $ 17,068 $ 14,728 Denominator Weighted-average number of common shares outstanding 17,764,647 17,467,161 17,711,899 15,821,403 Incremental shares assumed for stock options and RSUs 483,361 638,605 470,154 552,631 Weighted-average number of dilutive shares outstanding 18,248,008 18,105,766 18,182,053 16,374,034 Basic earnings per common share $ 0.35 $ 0.30 $ 0.96 $ 0.93 Diluted earnings per common share $ 0.34 $ 0.29 $ 0.94 $ 0.90 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost and Approximate Fair Values of Investment Securities Available for Sale | Amortized cost and approximate fair values of investment securities available for sale are summarized as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (in thousands) Cost Gains Months Longer Value As of September 30, 2016 U.S. Government-sponsored securities $ 117,241 $ 112 $ (91 ) $ — $ 117,262 Municipal securities 28,479 724 (4 ) — 29,199 Mortgage-backed securities 168,783 1,808 (186 ) (346 ) 170,059 Corporate securities 10,000 5 (32 ) (397 ) 9,576 $ 324,503 $ 2,649 $ (313 ) $ (743 ) $ 326,096 As of December 31, 2015 U.S. Government-sponsored securities $ 104,591 $ 11 $ (612 ) $ - $ 103,990 Municipal securities 36,820 926 (7 ) (9 ) 37,730 Mortgage-backed securities 181,857 940 (724 ) (687 ) 181,386 Corporate securities 10,000 - (253 ) (117 ) 9,630 $ 333,268 $ 1,877 $ (1,596 ) $ (813 ) $ 332,736 |
Summary of Carrying Amounts and Estimated Fair Values of Securities Held-to-Maturity | Carrying amounts and estimated fair values of securities held-to-maturity are as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (in thousands) Cost Gains Months Longer Value As of September 30, 2016 Municipal securities $ 59,239 $ 584 $ (13 ) $ (7 ) $ 59,803 Certificates of deposit 2,232 1 — — 2,233 $ 61,471 $ 585 $ (13 ) $ (7 ) $ 62,036 As of December 31, 2015 Municipal securities $ 63,650 $ 238 $ (74 ) $ (2 ) $ 63,812 Certificates of deposit 2,232 5 - — 2,237 $ 65,882 $ 243 $ (74 ) $ (2 ) $ 66,049 |
Amortized Cost and Estimated Fair Values of Investment Securities that are Available-for-Sale and Held-to-Maturity by Contractual Maturity | Note 2 — Investment Securities – continued The amortized cost and estimated fair values of investment securities that are available-for-sale and held-to-maturity at September 30, 2016, by contractual maturity, are as follows: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair (in thousands) Cost Value Cost Value Securities maturing in: One year or less $ 21,055 $ 21,140 $ 10,767 $ 10,772 After one year through five years 123,786 124,171 39,850 40,175 After five years through ten years 71,359 71,661 10,854 11,089 After ten years 108,303 109,124 — — $ 324,503 $ 326,096 $ 61,471 $ 62,036 |
Loans and Allowance for Loan 20
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Summary of Loans | Loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Loans held for investment: Commercial real estate loans: Real estate term $ 578,462 $ 577,804 Construction and land development 235,350 179,664 Total commercial real estate loans 813,812 757,468 Commercial and industrial loans 205,443 208,277 Consumer loans: Residential and home equity 75,571 71,169 Consumer and other 15,062 14,945 Total consumer loans 90,633 86,114 Total gross loans 1,109,888 1,051,859 Less: Net deferred loan fees (4,490 ) (3,884 ) Total loans held for investment 1,105,398 1,047,975 Less: allowance for loan losses (16,181 ) (15,557 ) Total loans held for investment, net $ 1,089,217 $ 1,032,418 |
Summary of Changes in Allowance for Loan Losses | Changes in the allowance for loan losses (“ALLL”) are as follows: Three Months Ended September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 Additions: Provisions for loan losses (426 ) 413 411 (24 ) (49 ) 325 Deductions: Gross loan charge-offs — — (558 ) — (57 ) (615 ) Recoveries 3 148 81 8 79 319 Net loan charge-offs 3 148 (477 ) 8 22 (296 ) Balance at end of period $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Three Months Ended September 30, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 5,184 $ 3,852 $ 5,694 $ 692 $ 233 $ 15,655 Additions: Provisions for loan losses 1,381 (78 ) (1,133 ) (15 ) 45 200 Deductions: Gross loan charge-offs (1 ) (151 ) (201 ) - (53 ) (406 ) Recoveries 5 2 31 16 24 78 Net loan charge-offs 4 (149 ) (170 ) 16 (29 ) (328 ) Balance at end of period $ 6,569 $ 3,625 $ 4,391 $ 693 $ 249 $ 15,527 Nine Months Ended September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,783 $ 3,984 $ 3,941 $ 603 $ 246 $ 15,557 Additions: Provisions for loan losses (349 ) 1,108 202 (80 ) (131 ) 750 Deductions: Gross loan charge-offs — — (630 ) — (177 ) (807 ) Recoveries 12 194 189 89 197 681 Net loan charge-offs 12 194 (441 ) 89 20 (126 ) Balance at end of period $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Note 3 — Loans and Allowance for Loan Losses – Continued Nine Months Ended September 30, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 5,181 $ 4,425 $ 4,608 $ 671 $ 266 $ 15,151 Additions: Provisions for loan losses 1,316 (442 ) (129 ) (41 ) 96 800 Deductions: Gross loan charge-offs (2 ) (396 ) (235 ) - (174 ) (807 ) Recoveries 74 38 147 63 61 383 Net loan charge-offs 72 (358 ) (88 ) 63 (113 ) (424 ) Balance at end of period $ 6,569 $ 3,625 $ 4,391 $ 693 $ 249 $ 15,527 |
Summary of Nonaccrual Loans | Non-accrual loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Non-accrual loans, not troubled debt restructured: Real estate term $ 2,483 $ 2,961 Construction and land development 85 56 Commercial and industrial 605 1,176 Residential and home equity 152 631 Consumer and other 69 88 Total non-accrual loans, not troubled debt restructured 3,394 4,912 Troubled debt restructured loans, non-accrual: Real estate term 824 1,153 Construction and land development 667 1,329 Commercial and industrial 17 21 Residential and home equity — — Consumer and other — — Total troubled debt restructured loans, non-accrual 1,508 2,503 Total non-accrual loans $ 4,902 $ 7,415 |
Summary of Troubled Debt Restructured Loans | Troubled debt restructured loans are summarized as follows: September 30, December 31, (in thousands) 2016 2015 Accruing troubled debt restructured loans $ 6,006 $ 7,049 Non-accrual troubled debt restructured loans 1,508 2,503 Total troubled debt restructured loans $ 7,514 $ 9,552 |
Summary of Current and Past Due Loans Held For Investment (Accruing And Non-Accruing) | Current and past due loans held for investment (accruing and non-accruing) are summarized as follows: September 30, 2016 30-89 Days 90+ Days Total Total (in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 574,515 $ 640 $ — $ 3,307 $ 3,947 $ 578,462 Construction and land development 234,000 598 — 752 1,350 235,350 Total commercial real estate 808,515 1,238 — 4,059 5,297 813,812 Commercial and industrial 204,327 494 — 622 1,116 205,443 Consumer: Residential and home equity 74,953 466 — 152 618 75,571 Consumer and other 14,765 226 2 69 297 15,062 Total consumer 89,718 692 2 221 915 90,633 Total gross loans $ 1,102,560 $ 2,424 $ 2 $ 4,902 $ 7,328 $ 1,109,888 December 31, 2015 30-89 Days 90+ Days Total Total (in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 567,886 $ 5,804 $ — $ 4,114 $ 9,918 $ 577,804 Construction and land development 170,495 7,784 — 1,385 9,169 179,664 Total commercial real estate 738,381 13,588 — 5,499 19,087 757,468 Commercial and industrial 205,765 1,315 — 1,197 2,512 208,277 Consumer: Residential and home equity 69,950 588 — 631 1,219 71,169 Consumer and other 14,596 258 3 88 349 14,945 Total consumer 84,546 846 3 719 1,568 86,114 Total gross loans $ 1,028,692 $ 15,749 $ 3 $ 7,415 $ 23,167 $ 1,051,859 |
Summary of Outstanding Loan Balances (Accruing and Non - Accruing) Categorized by Credit Quality Indicators | Outstanding loan balances (accruing and non-accruing) categorized by these credit quality indicators are summarized as follows: September 30, 2016 Special Substandard Total Total (in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 557,377 $ 13,078 $ 8,007 $ 578,462 $ 6,446 Construction and land development 229,804 2,250 3,296 235,350 5,286 Total commercial real estate 787,181 15,328 11,303 813,812 11,732 Commercial and industrial 197,741 899 6,803 205,443 3,702 Consumer loans: Residential and home equity 71,763 1,918 1,890 75,571 612 Consumer and other 14,928 1 133 15,062 135 Total consumer 86,691 1,919 2,023 90,633 747 Total $ 1,071,613 $ 18,146 $ 20,129 $ 1,109,888 $ 16,181 December 31, 2015 Special Substandard Total Total (in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 551,001 $ 16,326 $ 10,477 $ 577,804 $ 6,783 Construction and land development 172,368 2,934 4,362 179,664 3,984 Total commercial real estate 723,369 19,260 14,839 757,468 10,767 Commercial and industrial 195,611 5,626 7,040 208,277 3,941 Consumer loans: Residential and home equity 67,088 1,666 2,415 71,169 603 Consumer and other 14,816 36 93 14,945 246 Total consumer 81,904 1,702 2,508 86,114 849 Total $ 1,000,884 $ 26,588 $ 24,387 $ 1,051,859 $ 15,557 |
Summary of Information on Impaired Loans | The ALLL and outstanding loan balances reviewed according to the Company’s impairment method are summarized as follows: September 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 271 $ 67 $ 664 $ 76 $ - $ 1,078 Collectively evaluated for impairment 6,175 5,219 3,038 536 135 15,103 Total $ 6,446 $ 5,286 $ 3,702 $ 612 $ 135 $ 16,181 Outstanding loan balances: Individually evaluated for impairment $ 7,910 $ 3,285 $ 6,879 $ 1,503 $ 14 $ 19,591 Collectively evaluated for impairment 570,552 232,065 198,564 74,068 15,048 1,090,297 Total gross loans $ 578,462 $ 235,350 $ 205,443 $ 75,571 $ 15,062 $ 1,109,888 Note 3 — Loans and Allowance for Loan Losses – Continued December 31, 2015 Real Construction Commercial Residential Consumer Estate and Land and and and (in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 283 $ 67 $ 1,078 $ 79 $ 15 $ 1,522 Collectively evaluated for impairment 6,500 3,917 2,863 524 231 14,035 Total $ 6,783 $ 3,984 $ 3,941 $ 603 $ 246 $ 15,557 Outstanding loan balances: Individually evaluated for impairment $ 10,225 $ 4,219 $ 7,009 $ 2,451 $ 15 $ 23,919 Collectively evaluated for impairment 567,579 175,445 201,268 68,718 14,930 1,027,940 Total gross loans $ 577,804 $ 179,664 $ 208,277 $ 71,169 $ 14,945 $ 1,051,859 Information on impaired loans is summarized as follows: September 30, 2016 Recorded Investment Unpaid Total Principal With No With Recorded Related (in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 8,104 $ 5,032 $ 2,878 $ 7,910 $ 271 Construction and land development 5,137 3,081 204 3,285 67 Total commercial real estate 13,241 8,113 3,082 11,195 338 Commercial and industrial 7,362 4,076 2,803 6,879 664 Consumer loans: Residential and home equity 1,562 1,096 407 1,503 76 Consumer and other 14 14 - 14 - Total consumer 1,576 1,110 407 1,517 76 Total $ 22,179 $ 13,299 $ 6,292 $ 19,591 $ 1,078 December 31, 2015 Recorded Investment Unpaid Total Principal With No With Recorded Related (in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 10,430 $ 7,266 $ 2,959 $ 10,225 $ 283 Construction and land development 6,055 4,007 212 4,219 67 Total commercial real estate 16,485 11,273 3,171 14,444 350 Commercial and industrial 7,562 3,510 3,499 7,009 1,078 Consumer loans: Residential and home equity 2,514 2,019 432 2,451 79 Consumer and other 58 15 - 15 15 Total consumer 2,572 2,034 432 2,466 94 Total $ 26,619 $ 16,817 $ 7,102 $ 23,919 $ 1,522 Note 3 — Loans and Allowance for Loan Losses – Concluded The interest income recognized on impaired loans was as follows: Three Months Ended September 30, 2016 September 30, 2015 Average Interest Average Interest Recorded Income Recorded Income (in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 8,990 $ 65 $ 10,440 $ 85 Construction and land development 3,528 54 5,161 109 Total commercial real estate 12,518 119 15,601 194 Commercial and industrial 6,353 88 5,024 44 Consumer loans: Residential and home equity 1,971 23 2,819 24 Consumer and other 15 1 32 - Total consumer 1,986 24 2,851 24 Total $ 20,857 $ 231 $ 23,476 $ 262 Nine Months Ended September 30, 2016 September 30, 2015 Average Interest Average Interest Recorded Income Recorded Income (in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 9,067 $ 218 $ 11,792 $ 300 Construction and land development 3,752 156 5,234 255 Total commercial real estate 12,819 374 17,026 555 Commercial and industrial 6,944 273 5,004 136 Consumer loans: Residential and home equity 1,977 57 3,179 93 Consumer and other 15 1 32 1 Total consumer 1,992 58 3,211 94 Total $ 21,755 $ 705 $ 25,241 $ 785 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Contractual Amounts of Off-balance Sheet Financial Instruments | Contractual amounts of off-balance sheet financial instruments were as follows: September 30, December 31, (in thousands) 2016 2015 Commitments to extend credit, including unsecured commitments of $13,419 and $12,869 as of September 30, 2016 and December 31, 2015, respectively $ 481,566 $ 382,928 Stand-by letters of credit and bond commitments, including unsecured commitments of $668 and $1,391 as of September 30, 2016 and December 31, 2015, respectively 33,322 36,333 Unused credit card lines, all unsecured 26,488 25,512 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Summary of Asset Measured at Fair Value | Assets measured at fair value are summarized as follows: (in thousands) Level 1 Level 2 Level 3 Total As of September 30, 2016 Fair valued on a recurring basis: Investment securities available for sale $ 4,709 $ 321,387 $ — $ 326,096 Fair valued on a non-recurring basis: Impaired loans — 5,214 — 5,214 Other real estate owned — 407 — 407 As of December 31, 2015 Fair valued on a recurring basis: Investment securities available for sale $ 2,017 $ 330,719 $ — $ 332,736 Fair valued on a non-recurring basis: Impaired loans — 5,580 — 5,580 Other real estate owned — 460 — 460 |
Fair Value of Financial Instruments | Note 9 — Fair Value Fair value of financial instruments — The following table summarizes carrying amounts, estimated fair values and assumptions used to estimate fair values of financial instruments: Carrying Estimated (in thousands) Value Fair Value As of December 31, 2015 Financial Assets: Net loans held for investment $ 1,032,418 $ 1,029,540 Financial Liabilities: Interest bearing deposits 900,677 901,211 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) | Sep. 30, 2016Division |
People's Intermountain Bank [Member] | |
Basis Of Presentation [Line Items] | |
Number of banking divisions | 2 |
Basis of Presentation - Schedul
Basis of Presentation - Schedule of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Numerator | ||||
Net income | $ 6,248 | $ 5,266 | $ 17,068 | $ 14,728 |
Denominator | ||||
Weighted-average number of common shares outstanding | 17,764,647 | 17,467,161 | 17,711,899 | 15,821,403 |
Incremental shares assumed for stock options and RSUs | 483,361 | 638,605 | 470,154 | 552,631 |
Weighted-average number of dilutive shares outstanding | 18,248,008 | 18,105,766 | 18,182,053 | 16,374,034 |
Basic earnings per common share | $ 0.35 | $ 0.30 | $ 0.96 | $ 0.93 |
Diluted earnings per common share | $ 0.34 | $ 0.29 | $ 0.94 | $ 0.90 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Approximate Fair Values of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | $ 324,503 | $ 333,268 |
Available-for-sale, Gross Unrealized Gains | 2,649 | 1,877 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (313) | (1,596) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (743) | (813) |
Available-for-sale, Fair Value | 326,096 | 332,736 |
U.S. Government Sponsored Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 117,241 | 104,591 |
Available-for-sale, Gross Unrealized Gains | 112 | 11 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (91) | (612) |
Available-for-sale, Fair Value | 117,262 | 103,990 |
Mortgage-backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 168,783 | 181,857 |
Available-for-sale, Gross Unrealized Gains | 1,808 | 940 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (186) | (724) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (346) | (687) |
Available-for-sale, Fair Value | 170,059 | 181,386 |
Municipal Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 28,479 | 36,820 |
Available-for-sale, Gross Unrealized Gains | 724 | 926 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (4) | (7) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (9) | |
Available-for-sale, Fair Value | 29,199 | 37,730 |
Corporate Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 10,000 | 10,000 |
Available-for-sale, Gross Unrealized Gains | 5 | |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (32) | (253) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (397) | (117) |
Available-for-sale, Fair Value | $ 9,576 | $ 9,630 |
Investment Securities - Summa26
Investment Securities - Summary of Carrying Amounts and Estimated Fair Values of Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | $ 61,471 | $ 65,882 |
Held-to-maturity, Gross Unrealized Gains | 585 | 243 |
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | (13) | (74) |
Held-to-maturity, Gross Unrealized Losses, 12 Months or Longer | (7) | (2) |
Held-to-maturity, Fair Value | 62,036 | 66,049 |
Municipal Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | 59,239 | 63,650 |
Held-to-maturity, Gross Unrealized Gains | 584 | 238 |
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | (13) | (74) |
Held-to-maturity, Gross Unrealized Losses, 12 Months or Longer | (7) | (2) |
Held-to-maturity, Fair Value | 59,803 | 63,812 |
Certificates of Deposit | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | 2,232 | 2,232 |
Held-to-maturity, Gross Unrealized Gains | 1 | 5 |
Held-to-maturity, Fair Value | $ 2,233 | $ 2,237 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Values of Investment Securities that are Available-for-Sale and Held-to-Maturity by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Available-for-sale Securities by Maturity, Amortized Cost | ||
Available-for-sale, Securities maturing in one year or less, Amortized cost | $ 21,055 | |
Available-for-sale, Securities maturing in After one year through five years, Amortized cost | 123,786 | |
Available-for-sale, Securities maturing in After five years through ten years, Amortized cost | 71,359 | |
Available-for-sale, Securities maturing in After ten years, Amortized cost | 108,303 | |
Available-for-sale, Amortized Cost | 324,503 | $ 333,268 |
Available-for-sale Securities by Maturity, Fair Value | ||
Available-for-sale, Securities maturing in one year or less, Fair Value | 21,140 | |
Available-for-sale, Securities maturing in After one year through five years, Fair Value | 124,171 | |
Available-for-sale, Securities maturing in After five years through ten years, Fair Value | 71,661 | |
Available-for-sale, Securities maturing in After ten years, Fair Value | 109,124 | |
Available-for-sale, Fair Value | 326,096 | 332,736 |
Held-to-maturity Securities by Maturity, Amortized Cost | ||
Held-to-maturity, Securities maturing in one year or less, Amortized Cost | 10,767 | |
Held-to-maturity, Securities maturing in After one year through five years, Amortized Cost | 39,850 | |
Held-to-maturity, Securities maturing in After five years through ten years, Amortized Cost | 10,854 | |
Held-to-maturity, Amortized Cost | 61,471 | 65,882 |
Held-to-maturity Securities by Maturity, Fair Value | ||
Held-to-maturity, Securities maturing in one year or less, Fair Value | 10,772 | |
Held-to-maturity, Securities maturing in After one year through five years, Fair Value | 40,175 | |
Held-to-maturity, Securities maturing in After five years through ten years, Fair Value | 11,089 | |
Held-to-maturity, Fair Value | $ 62,036 | $ 66,049 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) - Securities | Sep. 30, 2016 | Dec. 31, 2015 |
Investments Debt And Equity Securities [Abstract] | ||
Number of investment securities with fair values less than amortized cost | 131 | 234 |
Loans and Allowance for Loan 29
Loans and Allowance for Loan Losses - Summary of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | $ 1,109,888 | $ 1,051,859 | ||||
Net deferred loan fees | (4,490) | (3,884) | ||||
Total loans held for investment | 1,105,398 | 1,047,975 | ||||
Less allowance for loan losses | (16,181) | $ (16,152) | (15,557) | $ (15,527) | $ (15,655) | $ (15,151) |
Total loans held for investment, net | 1,089,217 | 1,032,418 | ||||
Real Estate Term | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 578,462 | 577,804 | ||||
Less allowance for loan losses | (6,446) | (6,869) | (6,783) | (6,569) | (5,184) | (5,181) |
Construction and Land Development | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 235,350 | 179,664 | ||||
Less allowance for loan losses | (5,286) | (4,725) | (3,984) | (3,625) | (3,852) | (4,425) |
Residential and Home Equity | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 75,571 | 71,169 | ||||
Less allowance for loan losses | (612) | (628) | (603) | (693) | (692) | (671) |
Consumer and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 15,062 | 14,945 | ||||
Less allowance for loan losses | (135) | (162) | (246) | (249) | (233) | (266) |
Commercial Real Estate | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 813,812 | 757,468 | ||||
Less allowance for loan losses | (11,732) | (10,767) | ||||
Commercial Real Estate | Real Estate Term | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 578,462 | 577,804 | ||||
Less allowance for loan losses | (6,446) | (6,783) | ||||
Commercial Real Estate | Construction and Land Development | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 235,350 | 179,664 | ||||
Less allowance for loan losses | (5,286) | (3,984) | ||||
Commercial and Industrial | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 205,443 | 208,277 | ||||
Less allowance for loan losses | (3,702) | $ (3,768) | (3,941) | $ (4,391) | $ (5,694) | $ (4,608) |
Consumer | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 90,633 | 86,114 | ||||
Less allowance for loan losses | (747) | (849) | ||||
Consumer | Residential and Home Equity | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 75,571 | 71,169 | ||||
Less allowance for loan losses | (612) | (603) | ||||
Consumer | Consumer and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 15,062 | 14,945 | ||||
Less allowance for loan losses | $ (135) | $ (246) |
Loans and Allowance for Loan 30
Loans and Allowance for Loan Losses - Summary of Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | $ 16,152 | $ 15,655 | $ 15,557 | $ 15,151 |
Provision for loan losses | 325 | 200 | 750 | 800 |
Gross loan charge-offs | (615) | (406) | (807) | (807) |
Recoveries | 319 | 78 | 681 | 383 |
Net loan charge-offs | (296) | (328) | (126) | (424) |
Balance at end of period | 16,181 | 15,527 | 16,181 | 15,527 |
Real Estate Term | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 6,869 | 5,184 | 6,783 | 5,181 |
Provision for loan losses | (426) | 1,381 | (349) | 1,316 |
Gross loan charge-offs | (1) | (2) | ||
Recoveries | 3 | 5 | 12 | 74 |
Net loan charge-offs | 3 | 4 | 12 | 72 |
Balance at end of period | 6,446 | 6,569 | 6,446 | 6,569 |
Construction and Land Development | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 4,725 | 3,852 | 3,984 | 4,425 |
Provision for loan losses | 413 | (78) | 1,108 | (442) |
Gross loan charge-offs | (151) | (396) | ||
Recoveries | 148 | 2 | 194 | 38 |
Net loan charge-offs | 148 | (149) | 194 | (358) |
Balance at end of period | 5,286 | 3,625 | 5,286 | 3,625 |
Residential and Home Equity | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 628 | 692 | 603 | 671 |
Provision for loan losses | (24) | (15) | (80) | (41) |
Recoveries | 8 | 16 | 89 | 63 |
Net loan charge-offs | 8 | 16 | 89 | 63 |
Balance at end of period | 612 | 693 | 612 | 693 |
Consumer and Other | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 162 | 233 | 246 | 266 |
Provision for loan losses | (49) | 45 | (131) | 96 |
Gross loan charge-offs | (57) | (53) | (177) | (174) |
Recoveries | 79 | 24 | 197 | 61 |
Net loan charge-offs | 22 | (29) | 20 | (113) |
Balance at end of period | 135 | 249 | 135 | 249 |
Commercial and Industrial | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 3,768 | 5,694 | 3,941 | 4,608 |
Provision for loan losses | 411 | (1,133) | 202 | (129) |
Gross loan charge-offs | (558) | (201) | (630) | (235) |
Recoveries | 81 | 31 | 189 | 147 |
Net loan charge-offs | (477) | (170) | (441) | (88) |
Balance at end of period | $ 3,702 | $ 4,391 | $ 3,702 | $ 4,391 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses - Summary of Non Accrual Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | $ 3,394 | $ 4,912 |
Troubled debt restructured loans, non-accrual | 1,508 | 2,503 |
Total non-accrual loans | 4,902 | 7,415 |
Real Estate Term | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 2,483 | 2,961 |
Troubled debt restructured loans, non-accrual | 824 | 1,153 |
Construction and Land Development | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 85 | 56 |
Troubled debt restructured loans, non-accrual | 667 | 1,329 |
Commercial and Industrial Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 605 | 1,176 |
Troubled debt restructured loans, non-accrual | 17 | 21 |
Residential and Home Equity | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 152 | 631 |
Consumer and Other | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | $ 69 | $ 88 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructured Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Loans And Leases Receivable Disclosure [Abstract] | ||
Accruing troubled debt restructured loans | $ 6,006 | $ 7,049 |
Non-accrual troubled debt restructured loans | 1,508 | 2,503 |
Total troubled debt restructured loans | $ 7,514 | $ 9,552 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses - Summary of Current and Past Due Loans Held For Investment (Accruing And Non-Accruing) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | $ 1,102,560 | $ 1,028,692 |
30-89 Days Past Due | 2,424 | 15,749 |
90+ Days Past Due | 2 | 3 |
Non-accrual | 4,902 | 7,415 |
Total Past-Due | 7,328 | 23,167 |
Total loans | 1,109,888 | 1,051,859 |
Real Estate Term | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 578,462 | 577,804 |
Construction and Land Development | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 235,350 | 179,664 |
Residential and Home Equity | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 75,571 | 71,169 |
Consumer and Other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 15,062 | 14,945 |
Commercial Real Estate | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 808,515 | 738,381 |
30-89 Days Past Due | 1,238 | 13,588 |
Non-accrual | 4,059 | 5,499 |
Total Past-Due | 5,297 | 19,087 |
Total loans | 813,812 | 757,468 |
Commercial Real Estate | Real Estate Term | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 574,515 | 567,886 |
30-89 Days Past Due | 640 | 5,804 |
Non-accrual | 3,307 | 4,114 |
Total Past-Due | 3,947 | 9,918 |
Total loans | 578,462 | 577,804 |
Commercial Real Estate | Construction and Land Development | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 234,000 | 170,495 |
30-89 Days Past Due | 598 | 7,784 |
Non-accrual | 752 | 1,385 |
Total Past-Due | 1,350 | 9,169 |
Total loans | 235,350 | 179,664 |
Commercial and Industrial | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 204,327 | 205,765 |
30-89 Days Past Due | 494 | 1,315 |
Non-accrual | 622 | 1,197 |
Total Past-Due | 1,116 | 2,512 |
Total loans | 205,443 | 208,277 |
Consumer | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 89,718 | 84,546 |
30-89 Days Past Due | 692 | 846 |
90+ Days Past Due | 2 | 3 |
Non-accrual | 221 | 719 |
Total Past-Due | 915 | 1,568 |
Total loans | 90,633 | 86,114 |
Consumer | Residential and Home Equity | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 74,953 | 69,950 |
30-89 Days Past Due | 466 | 588 |
Non-accrual | 152 | 631 |
Total Past-Due | 618 | 1,219 |
Total loans | 75,571 | 71,169 |
Consumer | Consumer and Other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 14,765 | 14,596 |
30-89 Days Past Due | 226 | 258 |
90+ Days Past Due | 2 | 3 |
Non-accrual | 69 | 88 |
Total Past-Due | 297 | 349 |
Total loans | $ 15,062 | $ 14,945 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses - Summary of Outstanding Loan Balances (Accruing and Non - Accruing) Categorized by Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | $ 1,109,888 | $ 1,051,859 | ||||
Total Allowance | 16,181 | $ 16,152 | 15,557 | $ 15,527 | $ 15,655 | $ 15,151 |
Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 578,462 | 577,804 | ||||
Total Allowance | 6,446 | 6,869 | 6,783 | 6,569 | 5,184 | 5,181 |
Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 235,350 | 179,664 | ||||
Total Allowance | 5,286 | 4,725 | 3,984 | 3,625 | 3,852 | 4,425 |
Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 75,571 | 71,169 | ||||
Total Allowance | 612 | 628 | 603 | 693 | 692 | 671 |
Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 15,062 | 14,945 | ||||
Total Allowance | 135 | 162 | 246 | 249 | 233 | 266 |
Pass | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,071,613 | 1,000,884 | ||||
Special Mention | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 18,146 | 26,588 | ||||
Substandard and Doubtful | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 20,129 | 24,387 | ||||
Commercial Real Estate | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 813,812 | 757,468 | ||||
Total Allowance | 11,732 | 10,767 | ||||
Commercial Real Estate | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 578,462 | 577,804 | ||||
Total Allowance | 6,446 | 6,783 | ||||
Commercial Real Estate | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 235,350 | 179,664 | ||||
Total Allowance | 5,286 | 3,984 | ||||
Commercial Real Estate | Pass | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 787,181 | 723,369 | ||||
Commercial Real Estate | Pass | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 557,377 | 551,001 | ||||
Commercial Real Estate | Pass | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 229,804 | 172,368 | ||||
Commercial Real Estate | Special Mention | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 15,328 | 19,260 | ||||
Commercial Real Estate | Special Mention | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 13,078 | 16,326 | ||||
Commercial Real Estate | Special Mention | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 2,250 | 2,934 | ||||
Commercial Real Estate | Substandard and Doubtful | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 11,303 | 14,839 | ||||
Commercial Real Estate | Substandard and Doubtful | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 8,007 | 10,477 | ||||
Commercial Real Estate | Substandard and Doubtful | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 3,296 | 4,362 | ||||
Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 205,443 | 208,277 | ||||
Total Allowance | 3,702 | $ 3,768 | 3,941 | $ 4,391 | $ 5,694 | $ 4,608 |
Commercial and Industrial | Pass | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 197,741 | 195,611 | ||||
Commercial and Industrial | Special Mention | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 899 | 5,626 | ||||
Commercial and Industrial | Substandard and Doubtful | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 6,803 | 7,040 | ||||
Consumer | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 90,633 | 86,114 | ||||
Total Allowance | 747 | 849 | ||||
Consumer | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 75,571 | 71,169 | ||||
Total Allowance | 612 | 603 | ||||
Consumer | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 15,062 | 14,945 | ||||
Total Allowance | 135 | 246 | ||||
Consumer | Pass | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 86,691 | 81,904 | ||||
Consumer | Pass | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 71,763 | 67,088 | ||||
Consumer | Pass | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 14,928 | 14,816 | ||||
Consumer | Special Mention | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,919 | 1,702 | ||||
Consumer | Special Mention | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,918 | 1,666 | ||||
Consumer | Special Mention | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1 | 36 | ||||
Consumer | Substandard and Doubtful | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 2,023 | 2,508 | ||||
Consumer | Substandard and Doubtful | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,890 | 2,415 | ||||
Consumer | Substandard and Doubtful | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | $ 133 | $ 93 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses - Summary of ALLL And Outstanding Loan Balances According To The Company's Impairment Method (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | $ 1,078 | $ 1,522 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 15,103 | 14,035 | ||||
Allowance for loan losses, Total | 16,181 | $ 16,152 | 15,557 | $ 15,527 | $ 15,655 | $ 15,151 |
Outstanding loan balances, Individually evaluated for impairment | 19,591 | 23,919 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 1,090,297 | 1,027,940 | ||||
Total loans | 1,109,888 | 1,051,859 | ||||
Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 271 | 283 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 6,175 | 6,500 | ||||
Allowance for loan losses, Total | 6,446 | 6,869 | 6,783 | 6,569 | 5,184 | 5,181 |
Outstanding loan balances, Individually evaluated for impairment | 7,910 | 10,225 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 570,552 | 567,579 | ||||
Total loans | 578,462 | 577,804 | ||||
Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 67 | 67 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 5,219 | 3,917 | ||||
Allowance for loan losses, Total | 5,286 | 4,725 | 3,984 | 3,625 | 3,852 | 4,425 |
Outstanding loan balances, Individually evaluated for impairment | 3,285 | 4,219 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 232,065 | 175,445 | ||||
Total loans | 235,350 | 179,664 | ||||
Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 76 | 79 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 536 | 524 | ||||
Allowance for loan losses, Total | 612 | 628 | 603 | 693 | 692 | 671 |
Outstanding loan balances, Individually evaluated for impairment | 1,503 | 2,451 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 74,068 | 68,718 | ||||
Total loans | 75,571 | 71,169 | ||||
Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 15 | |||||
Allowance for loan losses, Collectively evaluated for impairment | 135 | 231 | ||||
Allowance for loan losses, Total | 135 | 162 | 246 | 249 | 233 | 266 |
Outstanding loan balances, Individually evaluated for impairment | 14 | 15 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 15,048 | 14,930 | ||||
Total loans | 15,062 | 14,945 | ||||
Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 664 | 1,078 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 3,038 | 2,863 | ||||
Allowance for loan losses, Total | 3,702 | $ 3,768 | 3,941 | $ 4,391 | $ 5,694 | $ 4,608 |
Outstanding loan balances, Individually evaluated for impairment | 6,879 | 7,009 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 198,564 | 201,268 | ||||
Total loans | $ 205,443 | $ 208,277 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Summary of Information On Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | $ 22,179 | $ 26,619 |
Recorded investment With No Allowance | 13,299 | 16,817 |
Recorded investment With Allowance | 6,292 | 7,102 |
Total Recorded Investment | 19,591 | 23,919 |
Related Allowance | 1,078 | 1,522 |
Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 13,241 | 16,485 |
Recorded investment With No Allowance | 8,113 | 11,273 |
Recorded investment With Allowance | 3,082 | 3,171 |
Total Recorded Investment | 11,195 | 14,444 |
Related Allowance | 338 | 350 |
Commercial Real Estate | Real Estate Term | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 8,104 | 10,430 |
Recorded investment With No Allowance | 5,032 | 7,266 |
Recorded investment With Allowance | 2,878 | 2,959 |
Total Recorded Investment | 7,910 | 10,225 |
Related Allowance | 271 | 283 |
Commercial Real Estate | Construction and Land Development | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 5,137 | 6,055 |
Recorded investment With No Allowance | 3,081 | 4,007 |
Recorded investment With Allowance | 204 | 212 |
Total Recorded Investment | 3,285 | 4,219 |
Related Allowance | 67 | 67 |
Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 7,362 | 7,562 |
Recorded investment With No Allowance | 4,076 | 3,510 |
Recorded investment With Allowance | 2,803 | 3,499 |
Total Recorded Investment | 6,879 | 7,009 |
Related Allowance | 664 | 1,078 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 1,576 | 2,572 |
Recorded investment With No Allowance | 1,110 | 2,034 |
Recorded investment With Allowance | 407 | 432 |
Total Recorded Investment | 1,517 | 2,466 |
Related Allowance | 76 | 94 |
Consumer | Residential and Home Equity | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 1,562 | 2,514 |
Recorded investment With No Allowance | 1,096 | 2,019 |
Recorded investment With Allowance | 407 | 432 |
Total Recorded Investment | 1,503 | 2,451 |
Related Allowance | 76 | 79 |
Consumer | Consumer and Other | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 14 | 58 |
Recorded investment With No Allowance | 14 | 15 |
Total Recorded Investment | $ 14 | 15 |
Related Allowance | $ 15 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Summary of Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | $ 20,857 | $ 23,476 | $ 21,755 | $ 25,241 |
Interest Income Recognition | 231 | 262 | 705 | 785 |
Commercial Real Estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 12,518 | 15,601 | 12,819 | 17,026 |
Interest Income Recognition | 119 | 194 | 374 | 555 |
Commercial Real Estate | Real Estate Term | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 8,990 | 10,440 | 9,067 | 11,792 |
Interest Income Recognition | 65 | 85 | 218 | 300 |
Commercial Real Estate | Construction and Land Development | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 3,528 | 5,161 | 3,752 | 5,234 |
Interest Income Recognition | 54 | 109 | 156 | 255 |
Commercial and Industrial | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 6,353 | 5,024 | 6,944 | 5,004 |
Interest Income Recognition | 88 | 44 | 273 | 136 |
Consumer | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 1,986 | 2,851 | 1,992 | 3,211 |
Interest Income Recognition | 24 | 24 | 58 | 94 |
Consumer | Residential and Home Equity | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 1,971 | 2,819 | 1,977 | 3,179 |
Interest Income Recognition | 23 | 24 | 57 | 93 |
Consumer | Consumer and Other | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 15 | $ 32 | 15 | 32 |
Interest Income Recognition | $ 1 | $ 1 | $ 1 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses - Additional Information (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Available lines of credit for loans and credit cards to affiliates | $ 533,000 | |
Deposits held by affiliates | 8,600,000 | $ 7,900,000 |
Affiliates | ||
Related Party Transaction [Line Items] | ||
Outstanding loans with affiliates | $ 336,000 | $ 48,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense | $ 3,548 | $ 2,844 | $ 9,840 | $ 7,769 |
Effective tax rate | 36.60% | 34.50% |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Contractual Amounts of Off-balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Commitments to Extend Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 481,566 | $ 382,928 |
Stand-by Letters of Credit and Bond Commitments [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | 33,322 | 36,333 |
Unused Credit Card Lines, All Unsecured [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 26,488 | $ 25,512 |
Commitments and Contingencies41
Commitments and Contingencies - Summary of Contractual Amounts of Off-balance Sheet Financial Instruments (Parenthetical) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Unsecured Commitments Included in Commitments to Extend Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 13,419 | $ 12,869 |
Unsecured Commitments Included in Stand-by Letters of Credit and Bond Commitments [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 668 | $ 1,391 |
Regulatory Capital Matters - Ad
Regulatory Capital Matters - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Banking And Thrift [Abstract] | ||
Consolidated Tier 1 Leverage ratio | 13.93% | 13.42% |
Investment securities | $ 8.6 | $ 8.7 |
Incentive Share-Based Plan an43
Incentive Share-Based Plan and Other Employee Benefits - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | |
Options [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Options issued to purchase common shares | 86,831 | ||
Exercise price of common shares | $ 15.66 | ||
Fair value as of date of grant per share | $ 2.26 | ||
Share-based compensation expense | $ 410 | $ 363 | |
Restricted Stock Units [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Restricted stock units granted | 3,866 | ||
Fair value of restricted stock units | $ 16.50 | ||
Share-Based Incentive Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Maximum number of shares available for issuance under the plan | 800,000 | ||
Maximum [Member] | Options [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Maximum [Member] | Restricted Stock Units [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Maximum [Member] | Share-Based Incentive Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Share-based awards granted term | 10 years | ||
Minimum [Member] | Options [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Minimum [Member] | Restricted Stock Units [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period | 1 year |
Fair Value - Summary of Asset M
Fair Value - Summary of Asset Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 326,096 | $ 332,736 |
Fair Valued on a Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 326,096 | 332,736 |
Fair Valued on a Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,709 | 2,017 |
Fair Valued on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 321,387 | 330,719 |
Fair Valued on a Non-Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 5,214 | 5,580 |
Other real estate owned | 407 | 460 |
Fair Valued on a Non-Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 5,214 | 5,580 |
Other real estate owned | $ 407 | $ 460 |
Fair Value - Summary of Carryin
Fair Value - Summary of Carrying Amounts, Estimated Fair Values and Assumptions Used to Estimate Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financial Liabilities: | ||
Interest bearing deposits | $ 947,201 | $ 900,677 |
Carrying Value [Member] | ||
Financial Assets: | ||
Net loans held for investment | 1,032,418 | |
Financial Liabilities: | ||
Interest bearing deposits | 900,677 | |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Net loans held for investment | 1,029,540 | |
Financial Liabilities: | ||
Interest bearing deposits | $ 901,211 |