Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
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 | Jun. 30, 2017 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Trading Symbol | PUB | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 17,958,487 |
UNAUDITED CONSOLIDATED BALANCE
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 28,315 | $ 26,524 |
Interest bearing deposits | 26,027 | 37,958 |
Federal funds sold | 3,093 | 3,456 |
Total cash and cash equivalents | 57,435 | 67,938 |
Investment securities: | ||
Available-for-sale, at fair value | 325,172 | 335,609 |
Held-to-maturity, at historical cost | 77,394 | 73,512 |
Total investment securities | 402,566 | 409,121 |
Non-marketable equity securities | 1,959 | 1,827 |
Loans held for sale | 7,655 | 20,826 |
Loans: | ||
Loans held for investment | 1,201,391 | 1,119,877 |
Less allowance for loan losses | (17,271) | (16,715) |
Total loans held for investment, net | 1,184,120 | 1,103,162 |
Premises and equipment, net | 23,551 | 21,926 |
Bank-owned life insurance | 19,970 | 19,714 |
Deferred income tax assets | 9,845 | 9,799 |
Accrued interest receivable | 5,616 | 5,557 |
Other real estate owned | 468 | 245 |
Other assets | 5,190 | 5,866 |
Total assets | 1,718,375 | 1,665,981 |
Deposits: | ||
Non-interest bearing deposits | 465,988 | 443,100 |
Interest bearing deposits | 995,064 | 981,974 |
Total deposits | 1,461,052 | 1,425,074 |
Short-term borrowings | 3,302 | 3,199 |
Accrued interest payable | 269 | 305 |
Other liabilities | 13,850 | 8,886 |
Total liabilities | 1,478,473 | 1,437,464 |
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; 17,948,347 and 17,819,538 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively | 179 | 178 |
Additional paid-in capital | 69,623 | 68,657 |
Retained earnings | 170,840 | 160,692 |
Accumulated other comprehensive loss | (740) | (1,010) |
Total shareholders’ equity | 239,902 | 228,517 |
Total liabilities and shareholders’ equity | $ 1,718,375 | $ 1,665,981 |
UNAUDITED CONSOLIDATED BALANCE3
UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
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 | 17,948,347 | 17,819,538 |
Common stock, shares outstanding | 17,948,347 | 17,819,538 |
UNAUDITED CONSOLIDATED STATEMEN
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income | ||||
Interest and fees on loans | $ 17,928 | $ 16,420 | $ 34,781 | $ 32,271 |
Interest and dividends on investments | 1,802 | 1,489 | 3,507 | 3,092 |
Total interest income | 19,730 | 17,909 | 38,288 | 35,363 |
Interest expense | 749 | 698 | 1,515 | 1,452 |
Net interest income | 18,981 | 17,211 | 36,773 | 33,911 |
Provision for loan losses | 900 | 225 | 1,100 | 425 |
Net interest income after provision for loan losses | 18,081 | 16,986 | 35,673 | 33,486 |
Non-interest income | ||||
Mortgage banking | 1,960 | 2,277 | 3,939 | 4,025 |
Card processing | 1,208 | 1,136 | 2,332 | 2,167 |
Service charges on deposit accounts | 578 | 531 | 1,114 | 1,044 |
Other operating | 602 | 454 | 1,088 | 925 |
Total non-interest income | 4,348 | 4,398 | 8,473 | 8,161 |
Non-interest expense | ||||
Salaries and employee benefits | 7,762 | 7,959 | 15,729 | 15,843 |
Occupancy, equipment and depreciation | 1,088 | 1,076 | 2,205 | 2,064 |
Data processing | 661 | 740 | 1,336 | 1,447 |
Card processing | 516 | 549 | 1,045 | 1,139 |
Marketing and advertising | 349 | 290 | 611 | 459 |
FDIC premiums | 130 | 188 | 256 | 383 |
Other | 1,845 | 1,598 | 3,625 | 3,200 |
Total non-interest expense | 12,351 | 12,400 | 24,807 | 24,535 |
Income before income tax expense | 10,078 | 8,984 | 19,339 | 17,112 |
Income tax expense | 3,584 | 3,407 | 6,324 | 6,292 |
Net income | $ 6,494 | $ 5,577 | $ 13,015 | $ 10,820 |
Earnings per common share: | ||||
Basic | $ 0.37 | $ 0.31 | $ 0.73 | $ 0.61 |
Diluted | $ 0.35 | $ 0.31 | $ 0.71 | $ 0.60 |
Weighted average common shares outstanding: | ||||
Basic | 17,937,926 | 17,738,182 | 17,911,125 | 17,685,235 |
Diluted | 18,351,531 | 18,173,034 | 18,334,028 | 18,148,713 |
UNAUDITED CONSOLIDATED STATEME5
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 6,494 | $ 5,577 | $ 13,015 | $ 10,820 |
Other comprehensive income | ||||
Unrealized holding gains on securities available-for-sale | 375 | 675 | 438 | 2,904 |
Tax effect | (143) | (258) | (168) | (1,110) |
Unrealized holding gains on securities available-for-sale, net of tax | 232 | 417 | 270 | 1,794 |
Total comprehensive income | $ 6,726 | $ 5,994 | $ 13,285 | $ 12,614 |
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, 2015 | $ 209,408 | $ 176 | $ 67,338 | $ 142,223 | $ (329) |
Balance, beginning, Shares at Dec. 31, 2015 | 17,567,154 | ||||
Comprehensive income | 12,614 | 10,820 | 1,794 | ||
Cash dividends | (2,475) | (2,475) | |||
Share-based compensation | 252 | 252 | |||
Exercise of stock options | 648 | $ 2 | 646 | ||
Exercise of stock options, Shares | 185,666 | ||||
Balance, ending at Jun. 30, 2016 | 220,447 | $ 178 | 68,236 | 150,568 | 1,465 |
Balance, ending, Shares at Jun. 30, 2016 | 17,752,820 | ||||
Balance, beginning at Dec. 31, 2016 | $ 228,517 | $ 178 | 68,657 | 160,692 | (1,010) |
Balance, beginning, Shares at Dec. 31, 2016 | 17,819,538 | 17,819,538 | |||
Comprehensive income | $ 13,285 | 13,015 | 270 | ||
Cash dividends | (2,867) | (2,867) | |||
Share-based compensation | 218 | 218 | |||
Exercise of stock options | 749 | $ 1 | 748 | ||
Exercise of stock options, Shares | 128,809 | ||||
Balance, ending at Jun. 30, 2017 | $ 239,902 | $ 179 | $ 69,623 | $ 170,840 | $ (740) |
Balance, ending, Shares at Jun. 30, 2017 | 17,948,347 | 17,948,347 |
UNAUDITED CONSOLIDATED STATEME7
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividends per share | $ 0.16 | $ 0.14 |
UNAUDITED CONSOLIDATED STATEME8
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 13,015 | $ 10,820 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 1,100 | 425 |
Depreciation and amortization | 1,267 | 1,290 |
Deferred income taxes | (214) | |
Net amortization of securities discounts and premiums | 1,501 | 1,512 |
Increase in cash surrender value of bank owned life insurance | (256) | (278) |
Share based compensation | 218 | 252 |
Other | (159) | 26 |
Gain on sale of loans held for sale | (2,838) | (3,033) |
Originations of loans held for sale | (115,621) | (123,895) |
Proceeds from sale of loans held for sale | 131,630 | 132,960 |
Net changes in: | ||
Accrued interest receivable | (59) | 181 |
Other assets | 676 | 554 |
Accrued interest payable | (36) | (11) |
Other liabilities | 4,964 | 3,177 |
Net cash provided by operating activities | 35,188 | 23,980 |
Cash flows from investing activities: | ||
Net change in loans held for investment | (82,558) | (47,920) |
Purchase of available-for-sale securities | (24,599) | (12,997) |
Purchase of held-to-maturity securities | (12,198) | |
Proceeds from maturities/sales of available-for-sale securities | 34,350 | 66,721 |
Proceeds from maturities of held-to-maturity securities | 7,939 | 4,143 |
Purchase of premises and equipment | (2,758) | (1,302) |
Proceeds from sale of other real estate owned, net of improvements | 302 | 133 |
Purchase of non-marketable equity securities | (2,368) | (2,663) |
Proceeds from sale of non-marketable equity securities | 2,236 | 3,080 |
Net cash (used in) provided by investing activities | (79,654) | 9,195 |
Cash flows from financing activities: | ||
Net increase in non-interest bearing deposits | 22,888 | 21,487 |
Net increase in interest bearing deposits | 13,090 | 15,691 |
Proceeds related to exercise of stock options | 749 | 648 |
Net change in short-term borrowings | 103 | (24,349) |
Cash dividends paid | (2,867) | (2,475) |
Net cash provided by financing activities | 33,963 | 11,002 |
Net change in cash and cash equivalents | (10,503) | 44,177 |
Cash and cash equivalents, beginning of period | 67,938 | 42,349 |
Cash and cash equivalents, end of period | 57,435 | 86,526 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 1,551 | 1,285 |
Income taxes paid | 6,217 | 5,610 |
Supplemental disclosures of non-cash transactions: | ||
Reclassifications from loans to other real estate owned | 468 | 237 |
Unrealized gains on securities available-for-sale | $ 438 | $ 2,904 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
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”), an equipment leasing division dba GrowthFunding Equipment Finance and a mortgage division dba People’s Intermountain Bank Mortgage. BAF and LSB have over 100 years of history and 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, 2016, which are included in the Company’s 2016 Form 10-K. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017, 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 include 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 Six Months Ended June 30, June 30, (Dollars in thousands, except share and per share data) 2017 2016 2017 2016 Numerator Net income $ 6,494 $ 5,577 $ 13,015 $ 10,820 Denominator Weighted-average number of common shares outstanding 17,937,926 17,738,182 17,911,125 17,685,235 Incremental shares assumed for stock options and RSUs 413,605 434,852 422,903 463,478 Weighted-average number of dilutive shares outstanding 18,351,531 18,173,034 18,334,028 18,148,713 Basic earnings per common share $ 0.37 $ 0.31 $ 0.73 $ 0.61 Diluted earnings per common share $ 0.35 $ 0.31 $ 0.71 $ 0.60 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 Accounting Standards Codification™ (“ASC”) is the Financial Accounting Standards Board’s (“FASB”) officially recognized source of authoritative GAAP applicable to all public and non-public non-governmental entities. Rules and interpretive releases of the SEC under the authority of the federal securities laws are also sources of authoritative GAAP for us as an SEC registrant. All other accounting literature is non-authoritative. In June 2016, FASB amended FASB ASC Topic 326, Financial Instruments - Credit Losses. The amendments in this Update replace the current incurred loss model with a methodology that reflects expected credit losses over the life of the loan and requires consideration of a broader range of reasonable and supportable information to calculate credit loss estimates. The amendments are effective for public business entities for the first interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the impact of these amendments to the Company’s financial position and results of operations and currently does not know or cannot reasonably quantify the impact of the adoption of the amendments as a result of the complexity and extensive changes from the amendments. The ALLL is a material estimate of the Company and given the change from an incurred loss model to a methodology that considers the credit loss over the life of the loan, there is the potential for an increase in the ALLL at adoption date. The Company is anticipating a significant change in the processes and procedures to calculate the ALLL, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. The Company will also develop new procedures for determining an allowance for credit losses relating to held-to-maturity investment securities. In addition, the current accounting policy and procedures for other-than-temporary impairment on available-for-sale investment securities will be replaced with an allowance approach. The Company is expecting to begin developing and implementing processes and procedures during the next two years to ensure it is fully compliant with the amendments at adoption date. For additional information on the ALLL see Note 3 In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | Note 2 — Investment Securities Amortized cost and estimated fair value of investment securities available-for-sale are summarized as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (Dollars in thousands) Cost Gains Months Longer Value As of June 30, 2017 U.S. Government-sponsored securities $ 117,202 $ 151 $ (544 ) $ (35 ) $ 116,774 Municipal securities 18,117 385 (27 ) — 18,475 Mortgage-backed securities 181,051 767 (1,096 ) (604 ) 180,118 Corporate securities 10,000 55 — (250 ) 9,805 $ 326,370 $ 1,358 $ (1,667 ) $ (889 ) $ 325,172 As of December 31, 2016 U.S. Government-sponsored securities $ 119,202 $ 71 $ (669 ) $ (1 ) $ 118,603 Municipal securities 25,176 401 (58 ) — 25,519 Mortgage-backed securities 182,867 679 (1,111 ) (614 ) 181,821 Corporate securities 10,000 28 (32 ) (330 ) 9,666 $ 337,245 $ 1,179 $ (1,870 ) $ (945 ) $ 335,609 Note 2 — Investment Securities – continued Amortized cost and estimated fair value of investment securities held-to-maturity are as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (Dollars in thousands) Cost Gains Months Longer Value As of June 30, 2017 Municipal securities $ 77,394 $ 505 $ (177 ) $ (13 ) $ 77,709 As of December 31, 2016 Municipal securities $ 73,512 $ 105 $ (579 ) $ (38 ) $ 73,000 The amortized cost and estimated fair value of investment securities that are available-for-sale and held-to-maturity at June 30, 2017, by contractual maturity, are as follows: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Securities maturing in: One year or less $ 26,252 $ 26,265 $ 7,774 $ 7,774 After one year through five years 102,578 102,260 45,458 45,636 After five years through ten years 89,162 88,789 17,132 17,246 After ten years 108,378 107,858 7,030 7,053 $ 326,370 $ 325,172 $ 77,394 $ 77,709 Actual maturities may differ from contractual maturities because issuers may have the right to call obligations with or without penalties and other securities may experience pre-payments. As of June 30, 2017 and December 31, 2016, the Company held 254 and 302 investment securities, respectively, with fair value 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 | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Note 3 — Loans and Allowance for Loan Losses Loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Loans held for investment: Commercial real estate loans: Real estate term $ 643,756 $ 582,029 Construction and land development 251,741 240,120 Total commercial real estate loans 895,497 822,149 Commercial and industrial loans 221,901 213,260 Consumer loans: Residential and home equity 73,791 72,959 Consumer and other 14,936 15,678 Total consumer loans 88,727 88,637 Total gross loans 1,206,125 1,124,046 Less: Net deferred loan fees (4,734 ) (4,169 ) Total loans held for investment 1,201,391 1,119,877 Less: allowance for loan losses (17,271 ) (16,715 ) Total loans held for investment, net $ 1,184,120 $ 1,103,162 Changes in the allowance for loan losses (“ALLL”) are as follows: Three Months Ended June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 7,149 $ 4,683 $ 4,222 $ 529 $ 61 $ 16,644 Additions: Provisions for loan losses 181 394 342 (28 ) 11 900 Deductions: Gross loan charge-offs (350 ) — (114 ) — (48 ) (512 ) Recoveries 177 — 39 2 21 239 Net loan charge-offs (173 ) — (75 ) 2 (27 ) (273 ) Balance at end of period $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Three Months Ended June 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,692 $ 4,344 $ 3,921 $ 595 $ 171 $ 15,723 Additions: Provisions for loan losses 172 351 (224 ) (44 ) (30 ) 225 Deductions: Gross loan charge-offs — — — — (56 ) (56 ) Recoveries 5 30 71 77 77 260 Net loan charge-offs 5 30 71 77 21 204 Balance at end of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 Note 3 — Loans and Allowance for Loan Losses – Continued Six Months Ended June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,770 $ 5,449 $ 3,718 $ 617 $ 161 $ 16,715 Additions: Provisions for loan losses 556 (451 ) 966 84 (55 ) 1,100 Deductions: Gross loan charge-offs (350 ) — (272 ) (338 ) (113 ) (1,073 ) Recoveries 181 79 77 140 52 529 Net loan charge-offs (169 ) 79 (195 ) (198 ) (61 ) (544 ) Balance at end of period $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Six Months Ended June 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars 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 77 695 (209 ) (56 ) (82 ) 425 Deductions: Gross loan charge-offs — — (72 ) — (120 ) (192 ) Recoveries 9 46 108 81 118 362 Net loan charge-offs 9 46 36 81 (2 ) 170 Balance at end of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 Non-accrual loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Non-accrual loans, not troubled debt restructured: Real estate term $ 4,089 $ 2,386 Construction and land development 826 378 Commercial and industrial 1,513 1,211 Residential and home equity 116 142 Consumer and other — 14 Total non-accrual loans, not troubled debt restructured 6,544 4,131 Troubled debt restructured loans, non-accrual: Real estate term 663 808 Construction and land development 383 396 Commercial and industrial — — Residential and home equity — — Consumer and other — — Total troubled debt restructured loans, non-accrual 1,046 1,204 Total non-accrual loans $ 7,590 $ 5,335 Note 3 — Loans and Allowance for Loan Losses – Continued Troubled debt restructured loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Accruing troubled debt restructured loans $ 4,162 $ 5,572 Non-accrual troubled debt restructured loans 1,046 1,204 Total troubled debt restructured loans $ 5,208 $ 6,776 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. Current and past due loans held for investment (accruing and non-accruing) are summarized as follows: June 30, 2017 30-89 Days 90+ Days Total Total (Dollars in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 639,004 $ - $ — $ 4,752 $ 4,752 $ 643,756 Construction and land development 249,428 1,104 — 1,209 2,313 251,741 Total commercial real estate 888,432 1,104 — 5,961 7,065 895,497 Commercial and industrial 220,047 341 — 1,513 1,854 221,901 Consumer: Residential and home equity 73,602 73 — 116 189 73,791 Consumer and other 14,567 348 21 - 369 14,936 Total consumer 88,169 421 21 116 558 88,727 Total gross loans $ 1,196,648 $ 1,866 $ 21 $ 7,590 $ 9,477 $ 1,206,125 December 31, 2016 30-89 Days 90+ Days Total Total (Dollars in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 577,134 $ 1,701 $ — $ 3,194 $ 4,895 $ 582,029 Construction and land development 237,433 1,913 — 774 2,687 240,120 Total commercial real estate 814,567 3,614 — 3,968 7,582 822,149 Commercial and industrial 211,143 906 — 1,211 2,117 213,260 Consumer: Residential and home equity 71,719 1,098 — 142 1,240 72,959 Consumer and other 15,168 474 22 14 510 15,678 Total consumer 86,887 1,572 22 156 1,750 88,637 Total gross loans $ 1,112,597 $ 6,092 $ 22 $ 5,335 $ 11,449 $ 1,124,046 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. Note 3 — Loans and Allowance for Loan Losses – Continued 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. Outstanding loan balances (accruing and non-accruing) categorized by these credit quality indicators are summarized as follows: June 30, 2017 Special Substandard Total Total (Dollars in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 622,611 $ 13,871 $ 7,274 $ 643,756 $ 7,157 Construction and land development 247,157 2,081 2,503 251,741 5,077 Total commercial real estate 869,768 15,952 9,777 895,497 12,234 Commercial and industrial 212,211 4,938 4,752 221,901 4,489 Consumer loans: Residential and home equity 71,041 1,717 1,033 73,791 503 Consumer and other 14,822 — 114 14,936 45 Total consumer 85,863 1,717 1,147 88,727 548 Total $ 1,167,842 $ 22,607 $ 15,676 $ 1,206,125 $ 17,271 December 31, 2016 Special Substandard Total Total (Dollars in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 565,550 $ 10,609 $ 5,870 $ 582,029 $ 6,770 Construction and land development 234,359 2,222 3,539 240,120 5,449 Total commercial real estate 799,909 12,831 9,409 822,149 12,219 Commercial and industrial 205,933 2,266 5,061 213,260 3,718 Consumer loans: Residential and home equity 69,287 1,869 1,803 72,959 617 Consumer and other 15,542 — 136 15,678 161 Total consumer 84,829 1,869 1,939 88,637 778 Total $ 1,090,671 $ 16,966 $ 16,409 $ 1,124,046 $ 16,715 Note 3 — Loans and Allowance for Loan Losses – Continued The ALLL and outstanding loan balances reviewed according to the Company’s impairment method are summarized as follows: June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 61 $ 67 $ 528 $ 72 $ — $ 728 Collectively evaluated for impairment 7,096 5,010 3,961 431 45 16,543 Total $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Outstanding loan balances: Individually evaluated for impairment $ 4,854 $ 2,327 $ 2,684 $ 634 $ — $ 10,499 Collectively evaluated for impairment 638,902 249,414 219,217 73,157 14,936 1,195,626 Total gross loans $ 643,756 $ 251,741 $ 221,901 $ 73,791 $ 14,936 $ 1,206,125 December 31, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 189 $ 67 $ 323 $ 75 $ — $ 654 Collectively evaluated for impairment 6,581 5,382 3,395 542 161 16,061 Total $ 6,770 $ 5,449 $ 3,718 $ 617 $ 161 $ 16,715 Outstanding loan balances: Individually evaluated for impairment $ 5,778 $ 2,995 $ 6,045 $ 1,476 $ — $ 16,294 Collectively evaluated for impairment 576,251 237,125 207,215 71,483 15,678 1,107,752 Total gross loans $ 582,029 $ 240,120 $ 213,260 $ 72,959 $ 15,678 $ 1,124,046 Information on impaired loans is summarized as follows: June 30, 2017 Recorded Investment Unpaid Total Principal With No With Recorded Related (Dollars in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 4,940 $ 3,291 $ 1,563 $ 4,854 $ 61 Construction and land development 3,280 2,123 204 2,327 67 Total commercial real estate 8,220 5,414 1,767 7,181 128 Commercial and industrial 3,477 940 1,744 2,684 528 Consumer loans: Residential and home equity 634 232 402 634 72 Consumer and other — — — — — Total consumer 634 232 402 634 72 Total $ 12,331 $ 6,586 $ 3,913 $ 10,499 $ 728 Note 3 — Loans and Allowance for Loan Losses – Continued December 31, 2016 Recorded Investment Unpaid Total Principal With No With Recorded Related (Dollars in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 5,864 $ 2,979 $ 2,799 $ 5,778 $ 189 Construction and land development 3,949 2,790 205 2,995 67 Total commercial real estate 9,813 5,769 3,004 8,773 256 Commercial and industrial 6,937 4,458 1,587 6,045 323 Consumer loans: Residential and home equity 1,476 1,071 405 1,476 75 Consumer and other — — — — — Total consumer 1,476 1,071 405 1,476 75 Total $ 18,226 $ 11,298 $ 4,996 $ 16,294 $ 654 The interest income recognized on impaired loans was as follows: Three Months Ended June 30, 2017 June 30, 2016 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 4,734 $ 6 $ 8,416 $ 74 Construction and land development 2,872 32 3,767 47 Total commercial real estate 7,606 38 12,183 121 Commercial and industrial 4,280 36 7,934 97 Consumer loans: Residential and home equity 850 10 1,794 12 Consumer and other — — 15 — Total consumer 850 10 1,809 12 Total $ 12,736 $ 84 $ 21,926 $ 230 Six Months Ended June 30, 2017 June 30, 2016 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 5,316 $ 36 $ 9,106 $ 153 Construction and land development 2,660 63 3,865 102 Total commercial real estate 7,976 99 12,971 255 Commercial and industrial 4,365 90 7,243 185 Consumer loans: Residential and home equity 1,055 23 1,980 34 Consumer and other — — 15 — Total consumer 1,055 23 1,995 34 Total $ 13,396 $ 212 $ 22,209 $ 474 Note 3 — Loans and Allowance for Loan Losses – Concluded 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 $3,327,000 and $330,000 as of June 30, 2017 and December 31, 2016, respectively. Available lines of credit for loans and credit cards to affiliates were approximately $509,000 as of June 30, 2017. Deposits from affiliates were $7.6 million and $7.8 million as of June 30, 2017 and December 31, 2016, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 4 — 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: June 30, December 31, (Dollars in thousands) 2017 2016 Commitments to extend credit, including unsecured commitments of $12,185 and $11,230 as of June 30, 2017 and December 31, 2016, respectively $ 516,291 $ 445,645 Stand-by letters of credit and bond commitments, including unsecured commitments of $566 and $660 as of June 30, 2017 and December 31, 2016, respectively 29,233 29,332 Unused credit card lines, all unsecured 25,337 25,803 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. |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 5 — 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. 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 the fair value of the loan’s collateral (if collateral dependent) or net present value of future cash flows (if not 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: (Dollars in thousands) Level 1 Level 2 Level 3 Total As of June 30, 2017 Fair valued on a recurring basis: Investment securities available-for-sale $ 1,002 $ 324,170 $ — $ 325,172 Fair valued on a non-recurring basis: Impaired loans — 3,185 — 3,185 As of December 31, 2016 Fair valued on a recurring basis: Investment securities available-for-sale $ 1,008 $ 334,601 $ — $ 335,609 Fair valued on a non-recurring basis: Impaired loans — 4,342 — 4,342 Note 5 — Fair Value - Continued 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 (Dollars in thousands) Value Fair Value As of June 30, 2017 Financial Assets: Net loans held for investment $ 1,184,120 $ 1,184,297 Financial Liabilities: Interest bearing deposits 995,064 995,098 As of December 31, 2016 Financial Assets: Net loans held for investment $ 1,103,162 $ 1,101,890 Financial Liabilities: Interest bearing deposits 981,974 982,380 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 June 30, 2017 and December 31, 2016 were insignificant. The following methods and assumptions were used to estimate the fair value of financial instruments: Net loans held for investment — 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. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 6 — Income Taxes Income tax expense was $3.6 million and $3.4 million for the three months ended June 30, 2017 and 2016, respectively. The Company’s effective tax rate for the second quarter of 2017 was 35.6% compared with 37.9% in the second quarter of 2016. The tax rate in the second quarter of 2017 is lower than the same quarter in 2016 due primarily to adjustments in the expected recoverability of certain tax credits. Income tax expense was $6.3 million and $6.3 million for the six months ended June 30, 2017 and 2016, respectively. The Company’s effective tax rate was 32.7% and 36.8% for the six months ended June 30, 2017 and 2016, respectively. The tax rate in 2017 is lower than 2016 due primarily to tax-deductible stock compensation expense and the reversal of a liability related to an unrecognized tax benefit totaling, approximately $600,000 in taxable benefits. |
Regulatory Capital Matters
Regulatory Capital Matters | 6 Months Ended |
Jun. 30, 2017 | |
Banking And Thrift [Abstract] | |
Regulatory Capital Matters | Note 7 — Regulatory Capital Matters The consolidated Tier 1 Leverage ratio increased from 13.71% at December 31, 2016 to 14.15% as of June 30, 2017. Federal Reserve Board Regulations require maintenance of certain minimum reserve balances based on certain average deposits which as of June 30, 2017 and December 31, 2016 were $9.9 million and $9.1 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. |
Incentive Share-Based Plan and
Incentive Share-Based Plan and Other Employee Benefits | 6 Months Ended |
Jun. 30, 2017 | |
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 six months ended June 30, 2017, the Company granted options for the purchase of 769 common shares, which have a weighted average exercise price of $26.26 per share and a weighted average fair value as of the date of grant of $4.867 per share. Additionally, the Company granted 104 restricted stock units (“RSU”) at a weighted-average fair value of $25.00 per unit. The options and RSU’s generally vest over periods from one to three years. The Company recorded share-based compensation expense of $218,000 and $252,000 for the six months ended June 30, 2017 and 2016, respectively. |
Announced Transactions
Announced Transactions | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Announced Transactions | Note 9 — Announced Transactions Town & Country Bank: On May 31, 2017, the Company entered into a definitive agreement to acquire Town & Country Bank Inc. (“Town & Country Bank”), a community based bank in St. George Utah, whereby Town & Country Bank will be merged with and into PIB, a wholly owned subsidiary of PUB. Under the terms of the agreement, each outstanding share will receive $4.28 in cash and 0.2978 PUB common shares. Based on the closing price of $25.55 for PUB shares on May 30, 2017, the transaction would result in an aggregate value of $20.9 million or $11.89 per fully diluted Town & Country Bank common share. $1.5 million of the cash to be paid to shareholders will be held in escrow for eighteen months after closing pending the resolution of certain contingencies. Town & Country Bank shareholders may also receive additional cash consideration at closing subject to certain closing conditions. The transaction was unanimously approved by the boards of directors of both companies. The transaction is expected to close in the fourth quarter of 2017 subject to Town & Country Bank’s shareholder approval, required regulatory approval and the satisfaction of other customary closing conditions. The Company’s primary reasons for the transaction are to solidify its market share in the St. George, Utah market, expand its customer base to enhance total revenues and leverage operating costs through economies of scale. Town & Country Bank currently operates one branch in St. George and one loan production office in Sandy, UT. The Town & Country Bank office and PIB’s Bank of American Fork branch in St. George are expected to be consolidated in January 2018. Upon consolidation, the combined division will operate under the name “People’s Town & Country Bank.” Bank of American Fork branches in other areas will not be affected by this St. George-area name change. Town & Country Bank’s Sandy loan production office is expected to be consolidated with the current Bank of American Fork Sandy branch and will operate under the name Bank of American Fork. This merger is part of a larger bank-wide strategy to establish a community-banking network with local names throughout Utah and potentially in adjoining states. As of March 31, 2017, Town & Country Bank had total assets of $135.1 million, gross loans of $97.3 million and total deposits of $119.7 million. Banner Bank Utah Branches: On July 27, 2017, the Company signed a purchase and assumption agreement to acquire approximately $266 million in loans and seven Utah branch locations with approximately $159 million in deposits from Banner Corporation’s banking subsidiary, Banner Bank. PIB will operate the branches under the name of Bank of American Fork, a division of PIB. The seven branches are located in Salt Lake City, Provo, South Jordan, Woods Cross, Orem, Salem, and Springville. The Woods Cross and Orem branches will be consolidated into the existing Bank of American Fork Bountiful and Orem branches, respectively. The transaction is expected to close in the fourth quarter of 2017 and is subject to certain closing conditions, including receipt of regulatory approval. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Basis Of Presentation [Abstract] | |
Schedule of Earnings Per Common Share | Earnings per common share have been computed based on the following: Three Months Ended Six Months Ended June 30, June 30, (Dollars in thousands, except share and per share data) 2017 2016 2017 2016 Numerator Net income $ 6,494 $ 5,577 $ 13,015 $ 10,820 Denominator Weighted-average number of common shares outstanding 17,937,926 17,738,182 17,911,125 17,685,235 Incremental shares assumed for stock options and RSUs 413,605 434,852 422,903 463,478 Weighted-average number of dilutive shares outstanding 18,351,531 18,173,034 18,334,028 18,148,713 Basic earnings per common share $ 0.37 $ 0.31 $ 0.73 $ 0.61 Diluted earnings per common share $ 0.35 $ 0.31 $ 0.71 $ 0.60 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale | Amortized cost and estimated fair value of investment securities available-for-sale are summarized as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (Dollars in thousands) Cost Gains Months Longer Value As of June 30, 2017 U.S. Government-sponsored securities $ 117,202 $ 151 $ (544 ) $ (35 ) $ 116,774 Municipal securities 18,117 385 (27 ) — 18,475 Mortgage-backed securities 181,051 767 (1,096 ) (604 ) 180,118 Corporate securities 10,000 55 — (250 ) 9,805 $ 326,370 $ 1,358 $ (1,667 ) $ (889 ) $ 325,172 As of December 31, 2016 U.S. Government-sponsored securities $ 119,202 $ 71 $ (669 ) $ (1 ) $ 118,603 Municipal securities 25,176 401 (58 ) — 25,519 Mortgage-backed securities 182,867 679 (1,111 ) (614 ) 181,821 Corporate securities 10,000 28 (32 ) (330 ) 9,666 $ 337,245 $ 1,179 $ (1,870 ) $ (945 ) $ 335,609 |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities Held-to-Maturity | Note 2 — Investment Securities – continued Amortized cost and estimated fair value of investment securities held-to-maturity are as follows: Gross Unrealized Losses Less 12 Gross Than Months Amortized Unrealized 12 or Fair (Dollars in thousands) Cost Gains Months Longer Value As of June 30, 2017 Municipal securities $ 77,394 $ 505 $ (177 ) $ (13 ) $ 77,709 As of December 31, 2016 Municipal securities $ 73,512 $ 105 $ (579 ) $ (38 ) $ 73,000 |
Amortized Cost and Estimated Fair Value of Investment Securities that are Available-for-Sale and Held-to-Maturity by Contractual Maturity | The amortized cost and estimated fair value of investment securities that are available-for-sale and held-to-maturity at June 30, 2017, by contractual maturity, are as follows: Available-for-sale Held-to-maturity Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Securities maturing in: One year or less $ 26,252 $ 26,265 $ 7,774 $ 7,774 After one year through five years 102,578 102,260 45,458 45,636 After five years through ten years 89,162 88,789 17,132 17,246 After ten years 108,378 107,858 7,030 7,053 $ 326,370 $ 325,172 $ 77,394 $ 77,709 |
Loans and Allowance for Loan 20
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of Loans | Loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Loans held for investment: Commercial real estate loans: Real estate term $ 643,756 $ 582,029 Construction and land development 251,741 240,120 Total commercial real estate loans 895,497 822,149 Commercial and industrial loans 221,901 213,260 Consumer loans: Residential and home equity 73,791 72,959 Consumer and other 14,936 15,678 Total consumer loans 88,727 88,637 Total gross loans 1,206,125 1,124,046 Less: Net deferred loan fees (4,734 ) (4,169 ) Total loans held for investment 1,201,391 1,119,877 Less: allowance for loan losses (17,271 ) (16,715 ) Total loans held for investment, net $ 1,184,120 $ 1,103,162 |
Summary of Changes in Allowance for Loan Losses | Changes in the allowance for loan losses (“ALLL”) are as follows: Three Months Ended June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 7,149 $ 4,683 $ 4,222 $ 529 $ 61 $ 16,644 Additions: Provisions for loan losses 181 394 342 (28 ) 11 900 Deductions: Gross loan charge-offs (350 ) — (114 ) — (48 ) (512 ) Recoveries 177 — 39 2 21 239 Net loan charge-offs (173 ) — (75 ) 2 (27 ) (273 ) Balance at end of period $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Three Months Ended June 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,692 $ 4,344 $ 3,921 $ 595 $ 171 $ 15,723 Additions: Provisions for loan losses 172 351 (224 ) (44 ) (30 ) 225 Deductions: Gross loan charge-offs — — — — (56 ) (56 ) Recoveries 5 30 71 77 77 260 Net loan charge-offs 5 30 71 77 21 204 Balance at end of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 Note 3 — Loans and Allowance for Loan Losses – Continued Six Months Ended June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Balance at beginning of period $ 6,770 $ 5,449 $ 3,718 $ 617 $ 161 $ 16,715 Additions: Provisions for loan losses 556 (451 ) 966 84 (55 ) 1,100 Deductions: Gross loan charge-offs (350 ) — (272 ) (338 ) (113 ) (1,073 ) Recoveries 181 79 77 140 52 529 Net loan charge-offs (169 ) 79 (195 ) (198 ) (61 ) (544 ) Balance at end of period $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Six Months Ended June 30, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars 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 77 695 (209 ) (56 ) (82 ) 425 Deductions: Gross loan charge-offs — — (72 ) — (120 ) (192 ) Recoveries 9 46 108 81 118 362 Net loan charge-offs 9 46 36 81 (2 ) 170 Balance at end of period $ 6,869 $ 4,725 $ 3,768 $ 628 $ 162 $ 16,152 |
Summary of Nonaccrual Loans | Non-accrual loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Non-accrual loans, not troubled debt restructured: Real estate term $ 4,089 $ 2,386 Construction and land development 826 378 Commercial and industrial 1,513 1,211 Residential and home equity 116 142 Consumer and other — 14 Total non-accrual loans, not troubled debt restructured 6,544 4,131 Troubled debt restructured loans, non-accrual: Real estate term 663 808 Construction and land development 383 396 Commercial and industrial — — Residential and home equity — — Consumer and other — — Total troubled debt restructured loans, non-accrual 1,046 1,204 Total non-accrual loans $ 7,590 $ 5,335 |
Summary of Troubled Debt Restructured Loans | Note 3 — Loans and Allowance for Loan Losses – Continued Troubled debt restructured loans are summarized as follows: June 30, December 31, (Dollars in thousands) 2017 2016 Accruing troubled debt restructured loans $ 4,162 $ 5,572 Non-accrual troubled debt restructured loans 1,046 1,204 Total troubled debt restructured loans $ 5,208 $ 6,776 |
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: June 30, 2017 30-89 Days 90+ Days Total Total (Dollars in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 639,004 $ - $ — $ 4,752 $ 4,752 $ 643,756 Construction and land development 249,428 1,104 — 1,209 2,313 251,741 Total commercial real estate 888,432 1,104 — 5,961 7,065 895,497 Commercial and industrial 220,047 341 — 1,513 1,854 221,901 Consumer: Residential and home equity 73,602 73 — 116 189 73,791 Consumer and other 14,567 348 21 - 369 14,936 Total consumer 88,169 421 21 116 558 88,727 Total gross loans $ 1,196,648 $ 1,866 $ 21 $ 7,590 $ 9,477 $ 1,206,125 December 31, 2016 30-89 Days 90+ Days Total Total (Dollars in thousands) Current Past Due Past Due Non-accrual Past Due Loans Commercial real estate: Real estate term $ 577,134 $ 1,701 $ — $ 3,194 $ 4,895 $ 582,029 Construction and land development 237,433 1,913 — 774 2,687 240,120 Total commercial real estate 814,567 3,614 — 3,968 7,582 822,149 Commercial and industrial 211,143 906 — 1,211 2,117 213,260 Consumer: Residential and home equity 71,719 1,098 — 142 1,240 72,959 Consumer and other 15,168 474 22 14 510 15,678 Total consumer 86,887 1,572 22 156 1,750 88,637 Total gross loans $ 1,112,597 $ 6,092 $ 22 $ 5,335 $ 11,449 $ 1,124,046 |
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: June 30, 2017 Special Substandard Total Total (Dollars in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 622,611 $ 13,871 $ 7,274 $ 643,756 $ 7,157 Construction and land development 247,157 2,081 2,503 251,741 5,077 Total commercial real estate 869,768 15,952 9,777 895,497 12,234 Commercial and industrial 212,211 4,938 4,752 221,901 4,489 Consumer loans: Residential and home equity 71,041 1,717 1,033 73,791 503 Consumer and other 14,822 — 114 14,936 45 Total consumer 85,863 1,717 1,147 88,727 548 Total $ 1,167,842 $ 22,607 $ 15,676 $ 1,206,125 $ 17,271 December 31, 2016 Special Substandard Total Total (Dollars in thousands) Pass Mention and Doubtful Loans Allowance Commercial real estate: Real estate term $ 565,550 $ 10,609 $ 5,870 $ 582,029 $ 6,770 Construction and land development 234,359 2,222 3,539 240,120 5,449 Total commercial real estate 799,909 12,831 9,409 822,149 12,219 Commercial and industrial 205,933 2,266 5,061 213,260 3,718 Consumer loans: Residential and home equity 69,287 1,869 1,803 72,959 617 Consumer and other 15,542 — 136 15,678 161 Total consumer 84,829 1,869 1,939 88,637 778 Total $ 1,090,671 $ 16,966 $ 16,409 $ 1,124,046 $ 16,715 |
Summary of Information on Impaired Loans | Note 3 — Loans and Allowance for Loan Losses – Continued The ALLL and outstanding loan balances reviewed according to the Company’s impairment method are summarized as follows: June 30, 2017 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 61 $ 67 $ 528 $ 72 $ — $ 728 Collectively evaluated for impairment 7,096 5,010 3,961 431 45 16,543 Total $ 7,157 $ 5,077 $ 4,489 $ 503 $ 45 $ 17,271 Outstanding loan balances: Individually evaluated for impairment $ 4,854 $ 2,327 $ 2,684 $ 634 $ — $ 10,499 Collectively evaluated for impairment 638,902 249,414 219,217 73,157 14,936 1,195,626 Total gross loans $ 643,756 $ 251,741 $ 221,901 $ 73,791 $ 14,936 $ 1,206,125 December 31, 2016 Real Construction Commercial Residential Consumer Estate and Land and and and (Dollars in thousands) Term Development Industrial Home Equity Other Total Allowance for loan losses: Individually evaluated for impairment $ 189 $ 67 $ 323 $ 75 $ — $ 654 Collectively evaluated for impairment 6,581 5,382 3,395 542 161 16,061 Total $ 6,770 $ 5,449 $ 3,718 $ 617 $ 161 $ 16,715 Outstanding loan balances: Individually evaluated for impairment $ 5,778 $ 2,995 $ 6,045 $ 1,476 $ — $ 16,294 Collectively evaluated for impairment 576,251 237,125 207,215 71,483 15,678 1,107,752 Total gross loans $ 582,029 $ 240,120 $ 213,260 $ 72,959 $ 15,678 $ 1,124,046 Information on impaired loans is summarized as follows: June 30, 2017 Recorded Investment Unpaid Total Principal With No With Recorded Related (Dollars in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 4,940 $ 3,291 $ 1,563 $ 4,854 $ 61 Construction and land development 3,280 2,123 204 2,327 67 Total commercial real estate 8,220 5,414 1,767 7,181 128 Commercial and industrial 3,477 940 1,744 2,684 528 Consumer loans: Residential and home equity 634 232 402 634 72 Consumer and other — — — — — Total consumer 634 232 402 634 72 Total $ 12,331 $ 6,586 $ 3,913 $ 10,499 $ 728 Note 3 — Loans and Allowance for Loan Losses – Continued December 31, 2016 Recorded Investment Unpaid Total Principal With No With Recorded Related (Dollars in thousands) Balance Allowance Allowance Investment Allowance Commercial real estate: Real estate term $ 5,864 $ 2,979 $ 2,799 $ 5,778 $ 189 Construction and land development 3,949 2,790 205 2,995 67 Total commercial real estate 9,813 5,769 3,004 8,773 256 Commercial and industrial 6,937 4,458 1,587 6,045 323 Consumer loans: Residential and home equity 1,476 1,071 405 1,476 75 Consumer and other — — — — — Total consumer 1,476 1,071 405 1,476 75 Total $ 18,226 $ 11,298 $ 4,996 $ 16,294 $ 654 The interest income recognized on impaired loans was as follows: Three Months Ended June 30, 2017 June 30, 2016 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 4,734 $ 6 $ 8,416 $ 74 Construction and land development 2,872 32 3,767 47 Total commercial real estate 7,606 38 12,183 121 Commercial and industrial 4,280 36 7,934 97 Consumer loans: Residential and home equity 850 10 1,794 12 Consumer and other — — 15 — Total consumer 850 10 1,809 12 Total $ 12,736 $ 84 $ 21,926 $ 230 Six Months Ended June 30, 2017 June 30, 2016 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognition Investment Recognition Commercial real estate: Real estate term $ 5,316 $ 36 $ 9,106 $ 153 Construction and land development 2,660 63 3,865 102 Total commercial real estate 7,976 99 12,971 255 Commercial and industrial 4,365 90 7,243 185 Consumer loans: Residential and home equity 1,055 23 1,980 34 Consumer and other — — 15 — Total consumer 1,055 23 1,995 34 Total $ 13,396 $ 212 $ 22,209 $ 474 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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: June 30, December 31, (Dollars in thousands) 2017 2016 Commitments to extend credit, including unsecured commitments of $12,185 and $11,230 as of June 30, 2017 and December 31, 2016, respectively $ 516,291 $ 445,645 Stand-by letters of credit and bond commitments, including unsecured commitments of $566 and $660 as of June 30, 2017 and December 31, 2016, respectively 29,233 29,332 Unused credit card lines, all unsecured 25,337 25,803 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Summary of Asset Measured at Fair Value | Assets measured at fair value are summarized as follows: (Dollars in thousands) Level 1 Level 2 Level 3 Total As of June 30, 2017 Fair valued on a recurring basis: Investment securities available-for-sale $ 1,002 $ 324,170 $ — $ 325,172 Fair valued on a non-recurring basis: Impaired loans — 3,185 — 3,185 As of December 31, 2016 Fair valued on a recurring basis: Investment securities available-for-sale $ 1,008 $ 334,601 $ — $ 335,609 Fair valued on a non-recurring basis: Impaired loans — 4,342 — 4,342 |
Fair Value of Financial Instruments | 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 (Dollars in thousands) Value Fair Value As of June 30, 2017 Financial Assets: Net loans held for investment $ 1,184,120 $ 1,184,297 Financial Liabilities: Interest bearing deposits 995,064 995,098 As of December 31, 2016 Financial Assets: Net loans held for investment $ 1,103,162 $ 1,101,890 Financial Liabilities: Interest bearing deposits 981,974 982,380 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) | Jun. 30, 2017Division |
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 | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Numerator | ||||
Net income | $ 6,494 | $ 5,577 | $ 13,015 | $ 10,820 |
Denominator | ||||
Weighted-average number of common shares outstanding | 17,937,926 | 17,738,182 | 17,911,125 | 17,685,235 |
Incremental shares assumed for stock options and RSUs | 413,605 | 434,852 | 422,903 | 463,478 |
Weighted-average number of dilutive shares outstanding | 18,351,531 | 18,173,034 | 18,334,028 | 18,148,713 |
Basic earnings per common share | $ 0.37 | $ 0.31 | $ 0.73 | $ 0.61 |
Diluted earnings per common share | $ 0.35 | $ 0.31 | $ 0.71 | $ 0.60 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | $ 326,370 | $ 337,245 |
Available-for-sale, Gross Unrealized Gains | 1,358 | 1,179 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (1,667) | (1,870) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (889) | (945) |
Available-for-sale, Fair Value | 325,172 | 335,609 |
U.S. Government Sponsored Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 117,202 | 119,202 |
Available-for-sale, Gross Unrealized Gains | 151 | 71 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (544) | (669) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (35) | (1) |
Available-for-sale, Fair Value | 116,774 | 118,603 |
Mortgage-backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 181,051 | 182,867 |
Available-for-sale, Gross Unrealized Gains | 767 | 679 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (1,096) | (1,111) |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (604) | (614) |
Available-for-sale, Fair Value | 180,118 | 181,821 |
Municipal Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale, Amortized Cost | 18,117 | 25,176 |
Available-for-sale, Gross Unrealized Gains | 385 | 401 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (27) | (58) |
Available-for-sale, Fair Value | 18,475 | 25,519 |
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 | 55 | 28 |
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (32) | |
Available-for-sale, Gross Unrealized Losses, 12 Months or Longer | (250) | (330) |
Available-for-sale, Fair Value | $ 9,805 | $ 9,666 |
Investment Securities - Summa26
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | $ 77,394 | $ 73,512 |
Held-to-maturity, Fair Value | 77,709 | |
Municipal Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity, Amortized Cost | 77,394 | 73,512 |
Held-to-maturity, Gross Unrealized Gains | 505 | 105 |
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | (177) | (579) |
Held-to-maturity, Gross Unrealized Losses, 12 Months or Longer | (13) | (38) |
Held-to-maturity, Fair Value | $ 77,709 | $ 73,000 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities that are Available-for-Sale and Held-to-Maturity by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available-for-sale Securities by Maturity, Amortized Cost | ||
Available-for-sale, Securities maturing in one year or less, Amortized cost | $ 26,252 | |
Available-for-sale, Securities maturing in After one year through five years, Amortized cost | 102,578 | |
Available-for-sale, Securities maturing in After five years through ten years, Amortized cost | 89,162 | |
Available-for-sale, Securities maturing in After ten years, Amortized cost | 108,378 | |
Available-for-sale, Amortized Cost | 326,370 | $ 337,245 |
Available-for-sale Securities by Maturity, Fair Value | ||
Available-for-sale, Securities maturing in one year or less, Fair Value | 26,265 | |
Available-for-sale, Securities maturing in After one year through five years, Fair Value | 102,260 | |
Available-for-sale, Securities maturing in After five years through ten years, Fair Value | 88,789 | |
Available-for-sale, Securities maturing in After ten years, Fair Value | 107,858 | |
Available-for-sale, Fair Value | 325,172 | 335,609 |
Held-to-maturity Securities by Maturity, Amortized Cost | ||
Held-to-maturity, Securities maturing in one year or less, Amortized Cost | 7,774 | |
Held-to-maturity, Securities maturing in After one year through five years, Amortized Cost | 45,458 | |
Held-to-maturity, Securities maturing in After five years through ten years, Amortized Cost | 17,132 | |
Held-to-maturity, Securities maturing in After ten years, Amortized Cost | 7,030 | |
Held-to-maturity, Amortized Cost | 77,394 | $ 73,512 |
Held-to-maturity Securities by Maturity, Fair Value | ||
Held-to-maturity, Securities maturing in one year or less, Fair Value | 7,774 | |
Held-to-maturity, Securities maturing in After one year through five years, Fair Value | 45,636 | |
Held-to-maturity, Securities maturing in After five years through ten years, Fair Value | 17,246 | |
Held-to-maturity, Securities maturing in After ten years, Fair Value | 7,053 | |
Held-to-maturity, Fair Value | $ 77,709 |
Investment Securities - Additio
Investment Securities - Additional Information (Details) - Securities | Jun. 30, 2017 | Dec. 31, 2016 |
Investments Debt And Equity Securities [Abstract] | ||
Number of investment securities with fair value less than amortized cost | 254 | 302 |
Loans and Allowance for Loan 29
Loans and Allowance for Loan Losses - Summary of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | $ 1,206,125 | $ 1,124,046 | ||||
Net deferred loan fees | (4,734) | (4,169) | ||||
Total loans held for investment | 1,201,391 | 1,119,877 | ||||
Less allowance for loan losses | (17,271) | $ (16,644) | (16,715) | $ (16,152) | $ (15,723) | $ (15,557) |
Total loans held for investment, net | 1,184,120 | 1,103,162 | ||||
Real Estate Term | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 643,756 | 582,029 | ||||
Less allowance for loan losses | (7,157) | (7,149) | (6,770) | (6,869) | (6,692) | (6,783) |
Construction and Land Development | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 251,741 | 240,120 | ||||
Less allowance for loan losses | (5,077) | (4,683) | (5,449) | (4,725) | (4,344) | (3,984) |
Residential and Home Equity | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 73,791 | 72,959 | ||||
Less allowance for loan losses | (503) | (529) | (617) | (628) | (595) | (603) |
Consumer and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 14,936 | 15,678 | ||||
Less allowance for loan losses | (45) | (61) | (161) | (162) | (171) | (246) |
Commercial Real Estate | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 895,497 | 822,149 | ||||
Less allowance for loan losses | (12,234) | (12,219) | ||||
Commercial Real Estate | Real Estate Term | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 643,756 | 582,029 | ||||
Less allowance for loan losses | (7,157) | (6,770) | ||||
Commercial Real Estate | Construction and Land Development | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 251,741 | 240,120 | ||||
Less allowance for loan losses | (5,077) | (5,449) | ||||
Commercial and Industrial | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 221,901 | 213,260 | ||||
Less allowance for loan losses | (4,489) | $ (4,222) | (3,718) | $ (3,768) | $ (3,921) | $ (3,941) |
Consumer | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 88,727 | 88,637 | ||||
Less allowance for loan losses | (548) | (778) | ||||
Consumer | Residential and Home Equity | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 73,791 | 72,959 | ||||
Less allowance for loan losses | (503) | (617) | ||||
Consumer | Consumer and Other | ||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||
Gross loans held for investment | 14,936 | 15,678 | ||||
Less allowance for loan losses | $ (45) | $ (161) |
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 | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | $ 16,644 | $ 15,723 | $ 16,715 | $ 15,557 |
Provision for loan losses | 900 | 225 | 1,100 | 425 |
Gross loan charge-offs | (512) | (56) | (1,073) | (192) |
Recoveries | 239 | 260 | 529 | 362 |
Net loan charge-offs | (273) | 204 | (544) | 170 |
Balance at end of period | 17,271 | 16,152 | 17,271 | 16,152 |
Real Estate Term | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 7,149 | 6,692 | 6,770 | 6,783 |
Provision for loan losses | 181 | 172 | 556 | 77 |
Gross loan charge-offs | (350) | (350) | ||
Recoveries | 177 | 5 | 181 | 9 |
Net loan charge-offs | (173) | 5 | (169) | 9 |
Balance at end of period | 7,157 | 6,869 | 7,157 | 6,869 |
Construction and Land Development | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 4,683 | 4,344 | 5,449 | 3,984 |
Provision for loan losses | 394 | 351 | (451) | 695 |
Recoveries | 30 | 79 | 46 | |
Net loan charge-offs | 30 | 79 | 46 | |
Balance at end of period | 5,077 | 4,725 | 5,077 | 4,725 |
Residential and Home Equity | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 529 | 595 | 617 | 603 |
Provision for loan losses | (28) | (44) | 84 | (56) |
Gross loan charge-offs | (338) | |||
Recoveries | 2 | 77 | 140 | 81 |
Net loan charge-offs | 2 | 77 | (198) | 81 |
Balance at end of period | 503 | 628 | 503 | 628 |
Consumer and Other | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 61 | 171 | 161 | 246 |
Provision for loan losses | 11 | (30) | (55) | (82) |
Gross loan charge-offs | (48) | (56) | (113) | (120) |
Recoveries | 21 | 77 | 52 | 118 |
Net loan charge-offs | (27) | 21 | (61) | (2) |
Balance at end of period | 45 | 162 | 45 | 162 |
Commercial and Industrial | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance at beginning of period | 4,222 | 3,921 | 3,718 | 3,941 |
Provision for loan losses | 342 | (224) | 966 | (209) |
Gross loan charge-offs | (114) | (272) | (72) | |
Recoveries | 39 | 71 | 77 | 108 |
Net loan charge-offs | (75) | 71 | (195) | 36 |
Balance at end of period | $ 4,489 | $ 3,768 | $ 4,489 | $ 3,768 |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses - Summary of Non Accrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | $ 6,544 | $ 4,131 |
Troubled debt restructured loans, non-accrual | 1,046 | 1,204 |
Total non-accrual loans | 7,590 | 5,335 |
Real Estate Term | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 4,089 | 2,386 |
Troubled debt restructured loans, non-accrual | 663 | 808 |
Construction and Land Development | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 826 | 378 |
Troubled debt restructured loans, non-accrual | 383 | 396 |
Commercial and Industrial Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | 1,513 | 1,211 |
Residential and Home Equity | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | $ 116 | 142 |
Consumer and Other | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Non-accrual loans, not troubled debt restructured | $ 14 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses - Summary of Troubled Debt Restructured Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans And Leases Receivable Disclosure [Abstract] | ||
Accruing troubled debt restructured loans | $ 4,162 | $ 5,572 |
Non-accrual troubled debt restructured loans | 1,046 | 1,204 |
Total troubled debt restructured loans | $ 5,208 | $ 6,776 |
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 | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | $ 1,196,648 | $ 1,112,597 |
30-89 Days Past Due | 1,866 | 6,092 |
90+ Days Past Due | 21 | 22 |
Non-accrual | 7,590 | 5,335 |
Total Past-Due | 9,477 | 11,449 |
Total loans | 1,206,125 | 1,124,046 |
Real Estate Term | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 643,756 | 582,029 |
Construction and Land Development | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 251,741 | 240,120 |
Residential and Home Equity | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 73,791 | 72,959 |
Consumer and Other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total loans | 14,936 | 15,678 |
Commercial Real Estate | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 888,432 | 814,567 |
30-89 Days Past Due | 1,104 | 3,614 |
Non-accrual | 5,961 | 3,968 |
Total Past-Due | 7,065 | 7,582 |
Total loans | 895,497 | 822,149 |
Commercial Real Estate | Real Estate Term | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 639,004 | 577,134 |
30-89 Days Past Due | 1,701 | |
Non-accrual | 4,752 | 3,194 |
Total Past-Due | 4,752 | 4,895 |
Total loans | 643,756 | 582,029 |
Commercial Real Estate | Construction and Land Development | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 249,428 | 237,433 |
30-89 Days Past Due | 1,104 | 1,913 |
Non-accrual | 1,209 | 774 |
Total Past-Due | 2,313 | 2,687 |
Total loans | 251,741 | 240,120 |
Commercial and Industrial | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 220,047 | 211,143 |
30-89 Days Past Due | 341 | 906 |
Non-accrual | 1,513 | 1,211 |
Total Past-Due | 1,854 | 2,117 |
Total loans | 221,901 | 213,260 |
Consumer | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 88,169 | 86,887 |
30-89 Days Past Due | 421 | 1,572 |
90+ Days Past Due | 21 | 22 |
Non-accrual | 116 | 156 |
Total Past-Due | 558 | 1,750 |
Total loans | 88,727 | 88,637 |
Consumer | Residential and Home Equity | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 73,602 | 71,719 |
30-89 Days Past Due | 73 | 1,098 |
Non-accrual | 116 | 142 |
Total Past-Due | 189 | 1,240 |
Total loans | 73,791 | 72,959 |
Consumer | Consumer and Other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current | 14,567 | 15,168 |
30-89 Days Past Due | 348 | 474 |
90+ Days Past Due | 21 | 22 |
Non-accrual | 14 | |
Total Past-Due | 369 | 510 |
Total loans | $ 14,936 | $ 15,678 |
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 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | $ 1,206,125 | $ 1,124,046 | ||||
Total Allowance | 17,271 | $ 16,644 | 16,715 | $ 16,152 | $ 15,723 | $ 15,557 |
Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 643,756 | 582,029 | ||||
Total Allowance | 7,157 | 7,149 | 6,770 | 6,869 | 6,692 | 6,783 |
Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 251,741 | 240,120 | ||||
Total Allowance | 5,077 | 4,683 | 5,449 | 4,725 | 4,344 | 3,984 |
Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 73,791 | 72,959 | ||||
Total Allowance | 503 | 529 | 617 | 628 | 595 | 603 |
Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 14,936 | 15,678 | ||||
Total Allowance | 45 | 61 | 161 | 162 | 171 | 246 |
Commercial Real Estate | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 895,497 | 822,149 | ||||
Total Allowance | 12,234 | 12,219 | ||||
Commercial Real Estate | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 643,756 | 582,029 | ||||
Total Allowance | 7,157 | 6,770 | ||||
Commercial Real Estate | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 251,741 | 240,120 | ||||
Total Allowance | 5,077 | 5,449 | ||||
Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 221,901 | 213,260 | ||||
Total Allowance | 4,489 | $ 4,222 | 3,718 | $ 3,768 | $ 3,921 | $ 3,941 |
Consumer | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 88,727 | 88,637 | ||||
Total Allowance | 548 | 778 | ||||
Consumer | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 73,791 | 72,959 | ||||
Total Allowance | 503 | 617 | ||||
Consumer | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 14,936 | 15,678 | ||||
Total Allowance | 45 | 161 | ||||
Pass | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,167,842 | 1,090,671 | ||||
Pass | Commercial Real Estate | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 869,768 | 799,909 | ||||
Pass | Commercial Real Estate | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 622,611 | 565,550 | ||||
Pass | Commercial Real Estate | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 247,157 | 234,359 | ||||
Pass | Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 212,211 | 205,933 | ||||
Pass | Consumer | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 85,863 | 84,829 | ||||
Pass | Consumer | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 71,041 | 69,287 | ||||
Pass | Consumer | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 14,822 | 15,542 | ||||
Special Mention | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 22,607 | 16,966 | ||||
Special Mention | Commercial Real Estate | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 15,952 | 12,831 | ||||
Special Mention | Commercial Real Estate | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 13,871 | 10,609 | ||||
Special Mention | Commercial Real Estate | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 2,081 | 2,222 | ||||
Special Mention | Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 4,938 | 2,266 | ||||
Special Mention | Consumer | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,717 | 1,869 | ||||
Special Mention | Consumer | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,717 | 1,869 | ||||
Substandard and Doubtful | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 15,676 | 16,409 | ||||
Substandard and Doubtful | Commercial Real Estate | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 9,777 | 9,409 | ||||
Substandard and Doubtful | Commercial Real Estate | Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 7,274 | 5,870 | ||||
Substandard and Doubtful | Commercial Real Estate | Construction and Land Development | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 2,503 | 3,539 | ||||
Substandard and Doubtful | Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 4,752 | 5,061 | ||||
Substandard and Doubtful | Consumer | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,147 | 1,939 | ||||
Substandard and Doubtful | Consumer | Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | 1,033 | 1,803 | ||||
Substandard and Doubtful | Consumer | Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Total Loans | $ 114 | $ 136 |
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 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | $ 728 | $ 654 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 16,543 | 16,061 | ||||
Allowance for loan losses, Total | 17,271 | $ 16,644 | 16,715 | $ 16,152 | $ 15,723 | $ 15,557 |
Outstanding loan balances, Individually evaluated for impairment | 10,499 | 16,294 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 1,195,626 | 1,107,752 | ||||
Total loans | 1,206,125 | 1,124,046 | ||||
Real Estate Term | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 61 | 189 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 7,096 | 6,581 | ||||
Allowance for loan losses, Total | 7,157 | 7,149 | 6,770 | 6,869 | 6,692 | 6,783 |
Outstanding loan balances, Individually evaluated for impairment | 4,854 | 5,778 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 638,902 | 576,251 | ||||
Total loans | 643,756 | 582,029 | ||||
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 | 5,010 | 5,382 | ||||
Allowance for loan losses, Total | 5,077 | 4,683 | 5,449 | 4,725 | 4,344 | 3,984 |
Outstanding loan balances, Individually evaluated for impairment | 2,327 | 2,995 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 249,414 | 237,125 | ||||
Total loans | 251,741 | 240,120 | ||||
Residential and Home Equity | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 72 | 75 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 431 | 542 | ||||
Allowance for loan losses, Total | 503 | 529 | 617 | 628 | 595 | 603 |
Outstanding loan balances, Individually evaluated for impairment | 634 | 1,476 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 73,157 | 71,483 | ||||
Total loans | 73,791 | 72,959 | ||||
Consumer and Other | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Collectively evaluated for impairment | 45 | 161 | ||||
Allowance for loan losses, Total | 45 | 61 | 161 | 162 | 171 | 246 |
Outstanding loan balances, Collectively evaluated for impairment | 14,936 | 15,678 | ||||
Total loans | 14,936 | 15,678 | ||||
Commercial and Industrial | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually evaluated for impairment | 528 | 323 | ||||
Allowance for loan losses, Collectively evaluated for impairment | 3,961 | 3,395 | ||||
Allowance for loan losses, Total | 4,489 | $ 4,222 | 3,718 | $ 3,768 | $ 3,921 | $ 3,941 |
Outstanding loan balances, Individually evaluated for impairment | 2,684 | 6,045 | ||||
Outstanding loan balances, Collectively evaluated for impairment | 219,217 | 207,215 | ||||
Total loans | $ 221,901 | $ 213,260 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Summary of Information On Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | $ 12,331 | $ 18,226 |
Recorded investment With No Allowance | 6,586 | 11,298 |
Recorded investment With Allowance | 3,913 | 4,996 |
Total Recorded Investment | 10,499 | 16,294 |
Related Allowance | 728 | 654 |
Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 8,220 | 9,813 |
Recorded investment With No Allowance | 5,414 | 5,769 |
Recorded investment With Allowance | 1,767 | 3,004 |
Total Recorded Investment | 7,181 | 8,773 |
Related Allowance | 128 | 256 |
Commercial Real Estate | Real Estate Term | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 4,940 | 5,864 |
Recorded investment With No Allowance | 3,291 | 2,979 |
Recorded investment With Allowance | 1,563 | 2,799 |
Total Recorded Investment | 4,854 | 5,778 |
Related Allowance | 61 | 189 |
Commercial Real Estate | Construction and Land Development | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 3,280 | 3,949 |
Recorded investment With No Allowance | 2,123 | 2,790 |
Recorded investment With Allowance | 204 | 205 |
Total Recorded Investment | 2,327 | 2,995 |
Related Allowance | 67 | 67 |
Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 3,477 | 6,937 |
Recorded investment With No Allowance | 940 | 4,458 |
Recorded investment With Allowance | 1,744 | 1,587 |
Total Recorded Investment | 2,684 | 6,045 |
Related Allowance | 528 | 323 |
Consumer | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 634 | 1,476 |
Recorded investment With No Allowance | 232 | 1,071 |
Recorded investment With Allowance | 402 | 405 |
Total Recorded Investment | 634 | 1,476 |
Related Allowance | 72 | 75 |
Consumer | Residential and Home Equity | ||
Financing Receivable Impaired [Line Items] | ||
Unpaid Principal Balance | 634 | 1,476 |
Recorded investment With No Allowance | 232 | 1,071 |
Recorded investment With Allowance | 402 | 405 |
Total Recorded Investment | 634 | 1,476 |
Related Allowance | $ 72 | $ 75 |
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 | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | $ 12,736 | $ 21,926 | $ 13,396 | $ 22,209 |
Interest Income Recognition | 84 | 230 | 212 | 474 |
Commercial Real Estate | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 7,606 | 12,183 | 7,976 | 12,971 |
Interest Income Recognition | 38 | 121 | 99 | 255 |
Commercial Real Estate | Real Estate Term | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 4,734 | 8,416 | 5,316 | 9,106 |
Interest Income Recognition | 6 | 74 | 36 | 153 |
Commercial Real Estate | Construction and Land Development | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 2,872 | 3,767 | 2,660 | 3,865 |
Interest Income Recognition | 32 | 47 | 63 | 102 |
Commercial and Industrial | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 4,280 | 7,934 | 4,365 | 7,243 |
Interest Income Recognition | 36 | 97 | 90 | 185 |
Consumer | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 850 | 1,809 | 1,055 | 1,995 |
Interest Income Recognition | 10 | 12 | 23 | 34 |
Consumer | Residential and Home Equity | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | 850 | 1,794 | 1,055 | 1,980 |
Interest Income Recognition | $ 10 | 12 | $ 23 | 34 |
Consumer | Consumer and Other | ||||
Financing Receivable Impaired [Line Items] | ||||
Average Recorded Investment | $ 15 | $ 15 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses - Additional Information (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Available lines of credit for loans and credit cards to affiliates | $ 509,000 | |
Deposits from affiliates | 7,600,000 | $ 7,800,000 |
Affiliates | ||
Related Party Transaction [Line Items] | ||
Outstanding loans with affiliates | $ 3,327,000 | $ 330,000 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Contractual Amounts of Off-balance Sheet Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Commitments to Extend Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 516,291 | $ 445,645 |
Stand-by Letters of Credit and Bond Commitments [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | 29,233 | 29,332 |
Unused Credit Card Lines, All Unsecured [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 25,337 | $ 25,803 |
Commitments and Contingencies40
Commitments and Contingencies - Summary of Contractual Amounts of Off-balance Sheet Financial Instruments (Parenthetical) (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Unsecured Commitments Included in Commitments to Extend Credit [Member] | ||
Commitments And Contingencies [Line Items] | ||
Off-balance sheet financial instrument, contractual amount | $ 12,185 | $ 11,230 |
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 | $ 566 | $ 660 |
Fair Value - Summary of Asset M
Fair Value - Summary of Asset Measured at Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Investment securities available-for-sale | $ 325,172 | $ 335,609 |
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 | 325,172 | 335,609 |
Fair Valued on a Non-Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,185 | 4,342 |
Level 1 [Member] | 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 | 1,002 | 1,008 |
Level 2 [Member] | 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 | 324,170 | 334,601 |
Level 2 [Member] | Fair Valued on a Non-Recurring Basis [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 3,185 | $ 4,342 |
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 | Jun. 30, 2017 | Dec. 31, 2016 |
Carrying Value [Member] | ||
Financial Assets: | ||
Net loans held for investment | $ 1,184,120 | $ 1,103,162 |
Financial Liabilities: | ||
Interest bearing deposits | 995,064 | 981,974 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Net loans held for investment | 1,184,297 | 1,101,890 |
Financial Liabilities: | ||
Interest bearing deposits | $ 995,098 | $ 982,380 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense | $ 3,584,000 | $ 3,407,000 | $ 6,324,000 | $ 6,292,000 |
Effective tax rate | 35.60% | 37.90% | 32.70% | 36.80% |
Deferred tax liability, unrecognized tax benefits | $ 600,000 | $ 600,000 |
Regulatory Capital Matters - Ad
Regulatory Capital Matters - Additional Information (Details) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Banking And Thrift [Abstract] | ||
Consolidated Tier 1 Leverage ratio | 14.15% | 13.71% |
Investment securities | $ 9.9 | $ 9.1 |
Incentive Share-Based Plan an45
Incentive Share-Based Plan and Other Employee Benefits - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2014 | |
Options [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Options issued to purchase common shares | 769 | ||
Exercise price of common shares | $ 26.26 | ||
Fair value as of date of grant per share | $ 4.867 | ||
Share-based compensation expense | $ 218 | $ 252 | |
Restricted Stock Units [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Restricted stock units granted | 104 | ||
Fair value of restricted stock units | $ 25 | ||
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 |
Announced Transactions - Additi
Announced Transactions - Additional Information (Details) $ / shares in Units, $ in Thousands | Jul. 27, 2017USD ($)Locations | May 31, 2017$ / sharesshares | May 30, 2017USD ($)$ / shares | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||||
Closing share price | $ / shares | $ 25.55 | |||||
Total assets | $ 1,718,375 | $ 1,665,981 | ||||
Total Loans | 1,206,125 | 1,124,046 | ||||
Total deposits | $ 1,461,052 | $ 1,425,074 | ||||
Town & Country Bank Inc. [Member] | Definitive Agreement [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business acquisition, agreement date | May 31, 2017 | |||||
Business acquisition, share price | $ / shares | $ 4.28 | |||||
Business acquisition, shares issuable | shares | 0.2978 | |||||
Aggregate value of acquisition | $ 20,900 | |||||
Business acquisition, price per fully diluted common share | $ / shares | $ 11.89 | |||||
Cash to be paid to shareholders held in escrow | $ 1,500 | |||||
Period of escrow deposit held | 18 months | |||||
Total assets | $ 135,100 | |||||
Total Loans | 97,300 | |||||
Total deposits | $ 119,700 | |||||
Banner Bank [Member] | Purchase and Assumption Agreement [Member] | Subsequent Event [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Loans aqcuired | $ 266,000 | |||||
Number of branch location acquired | Locations | 7 | |||||
Deposits acquired | $ 159,000 |