Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 10, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | BY | |
Entity Registrant Name | Byline Bancorp, Inc. | |
Entity Central Index Key | 1,702,750 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 29,460,991 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 17,396 | $ 19,404 |
Interest bearing deposits with other banks | 110,645 | 38,945 |
Cash and cash equivalents | 128,041 | 58,349 |
Securities available-for-sale, at fair value | 626,057 | 583,236 |
Securities held-to-maturity, at amortized cost (fair value March 31, 2018—$110,419, December 31, 2017—$117,277) | 112,266 | 117,163 |
Restricted stock, at cost | 17,177 | 16,343 |
Loans held for sale | 8,219 | 5,212 |
Loans and leases: | ||
Loans and leases | 2,280,418 | 2,277,492 |
Allowance for loan and lease losses | (17,640) | (16,706) |
Net loans and leases | 2,262,778 | 2,260,786 |
Servicing assets, at fair value | 21,615 | 21,400 |
Accrued interest receivable | 6,971 | 7,670 |
Premises and equipment, net | 94,014 | 95,224 |
Assets held for sale | 9,030 | 9,779 |
Other real estate owned, net | 10,466 | 10,626 |
Goodwill | 54,562 | 54,562 |
Other intangible assets, net | 15,991 | 16,756 |
Bank-owned life insurance | 5,838 | 5,718 |
Deferred tax assets, net | 47,371 | 47,376 |
Due from counterparty | 19,987 | 39,824 |
Other assets | 21,989 | 16,106 |
Total assets | 3,462,372 | 3,366,130 |
LIABILITIES | ||
Non-interest bearing demand deposits | 749,892 | 760,887 |
Interest bearing deposits: | ||
NOW, savings accounts, and money market accounts | 1,018,361 | 973,685 |
Time deposits | 756,294 | 708,757 |
Total deposits | 2,524,547 | 2,443,329 |
Accrued interest payable | 1,612 | 1,306 |
Federal Home Loan Bank advances | 380,000 | 361,506 |
Securities sold under agreements to repurchase | 27,815 | 31,187 |
Junior subordinated debentures issued to capital trusts, net | 27,800 | 27,647 |
Accrued expenses and other liabilities | 37,662 | 42,577 |
Total liabilities | 2,999,436 | 2,907,552 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock | 10,438 | 10,438 |
Common stock, voting $0.01 par value at March 31, 2018 and December 31, 2017; 150,000,000 shares authorized at March 31, 2018 and December 31, 2017; 29,404,048 shares issued and outstanding at March 31, 2018 and 29,317,298 issued and outstanding at December 31, 2017 | 293 | 292 |
Additional paid-in capital | 392,932 | 391,586 |
Retained earnings | 68,687 | 61,349 |
Accumulated other comprehensive loss, net of tax | (9,414) | (5,087) |
Total stockholders’ equity | 462,936 | 458,578 |
Total liabilities and stockholders’ equity | $ 3,462,372 | $ 3,366,130 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Securities held-to-maturity, fair value | $ 110,419 | $ 117,277 |
Common stock, voting par value | $ 0.01 | $ 0.01 |
Common stock, voting shares authorized | 150,000,000 | 150,000,000 |
Common stock, voting shares issued | 29,404,048 | 29,317,298 |
Common stock, voting shares outstanding | 29,404,048 | 29,317,298 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
INTEREST AND DIVIDEND INCOME | ||
Interest and fees on loans and leases | $ 33,654,000 | $ 28,396,000 |
Interest on taxable securities | 4,055,000 | 3,790,000 |
Interest on tax-exempt securities | 174,000 | 133,000 |
Other interest and dividend income | 259,000 | 169,000 |
Total interest and dividend income | 38,142,000 | 32,488,000 |
INTEREST EXPENSE | ||
Deposits | 2,498,000 | 1,483,000 |
Federal Home Loan Bank advances | 1,358,000 | 660,000 |
Subordinated debentures and other borrowings | 591,000 | 807,000 |
Total interest expense | 4,447,000 | 2,950,000 |
Net interest income | 33,695,000 | 29,538,000 |
PROVISION FOR LOAN AND LEASE LOSSES | 5,115,000 | 1,891,000 |
Net interest income after provision for loan and lease losses | 28,580,000 | 27,647,000 |
NON-INTEREST INCOME | ||
Fees and service charges on deposits | 1,312,000 | 1,219,000 |
Net servicing fees | 563,000 | 919,000 |
ATM and interchange fees | 1,218,000 | 1,348,000 |
Net gains on sales of securities available-for-sale | 8,000 | |
Net gains on sales of loans | 7,476,000 | 8,082,000 |
Other non-interest income | 859,000 | 732,000 |
Total non-interest income | 11,428,000 | 12,308,000 |
NON-INTEREST EXPENSE | ||
Salaries and employee benefits | 18,278,000 | 16,602,000 |
Occupancy expense, net | 3,755,000 | 3,739,000 |
Equipment expense | 603,000 | 563,000 |
Loan and lease related expenses | 1,400,000 | 877,000 |
Legal, audit and other professional fees | 1,851,000 | 1,671,000 |
Data processing | 2,301,000 | 2,409,000 |
Net gain recognized on other real estate owned and other related expenses | (1,000) | (570,000) |
Regulatory assessments | 241,000 | 184,000 |
Other intangible assets amortization expense | 767,000 | 769,000 |
Advertising and promotions | 249,000 | 289,000 |
Telecommunications | 418,000 | 418,000 |
Other non-interest expense | 2,057,000 | 1,900,000 |
Total non-interest expense | 31,919,000 | 28,851,000 |
INCOME BEFORE PROVISION FOR INCOME TAXES | 8,089,000 | 11,104,000 |
PROVISION FOR INCOME TAXES | 1,321,000 | 4,544,000 |
NET INCOME | 6,768,000 | 6,560,000 |
Dividends on preferred shares | 193,000 | 189,000 |
INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 6,575,000 | $ 6,371,000 |
EARNINGS PER COMMON SHARE | ||
Basic | $ 0.22 | $ 0.26 |
Diluted | $ 0.22 | $ 0.25 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement Of Other Comprehensive Income [Abstract] | ||
Net income | $ 6,768 | $ 6,560 |
Securities available-for-sale | ||
Unrealized holding (losses) gains arising during the period | (8,852) | 1,020 |
Reclassification adjustments for net gains included in net income | (8) | |
Tax effect | 2,395 | (626) |
Net of tax | (6,457) | 386 |
Cash flow hedges | ||
Unrealized holding gains arising during the period | 4,070 | (83) |
Reclassification adjustments for (losses) gains included in net income | (61) | 54 |
Tax effect | (1,116) | 11 |
Net of tax | 2,893 | (18) |
Total other comprehensive income (loss) | (3,564) | 368 |
Comprehensive income | $ 3,204 | $ 6,928 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($) $ in Thousands | Total | Preferred Stock | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Beginning balance at Dec. 31, 2016 | $ 382,658 | $ 25,441 | $ 313,552 | $ 50,933 | $ (7,268) | |
Beginning balance, shares at Dec. 31, 2016 | 25,441 | 24,616,706 | ||||
Net income | 6,560 | 6,560 | ||||
Other comprehensive income (loss), net of tax | 368 | 368 | ||||
Cash dividends declared on preferred stock | (189) | (189) | ||||
Share-based compensation expense | 286 | 286 | ||||
Ending balance at Mar. 31, 2017 | 389,683 | $ 25,441 | 313,838 | 57,304 | (6,900) | |
Ending balance, shares at Mar. 31, 2017 | 25,441 | 24,616,706 | ||||
Beginning balance at Dec. 31, 2016 | 382,658 | $ 25,441 | 313,552 | 50,933 | (7,268) | |
Beginning balance, shares at Dec. 31, 2016 | 25,441 | 24,616,706 | ||||
Ending balance at Dec. 31, 2017 | 458,578 | $ 10,438 | $ 292 | 391,586 | 61,349 | (5,087) |
Ending balance, shares at Dec. 31, 2017 | 10,438 | 29,317,298 | ||||
Net income | 6,768 | 6,768 | ||||
Other comprehensive income (loss), net of tax | (3,564) | (3,564) | ||||
Issuance of common stock upon exercise of stock options | 1,005 | $ 1 | 1,004 | |||
Issuance of common stock upon exercise of stock options, shares | 86,750 | |||||
Reclassification of certain income tax effects from accumulated other comprehensive income | (763) | 763 | (763) | |||
Cash dividends declared on preferred stock | (193) | (193) | ||||
Share-based compensation expense | 342 | 342 | ||||
Ending balance at Mar. 31, 2018 | $ 462,936 | $ 10,438 | $ 293 | $ 392,932 | $ 68,687 | $ (9,414) |
Ending balance, shares at Mar. 31, 2018 | 10,438 | 29,404,048 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 6,768 | $ 6,560 |
Adjustments to reconcile net income to net cash from operating activities: | ||
PROVISION FOR LOAN AND LEASE LOSSES | 5,115 | 1,891 |
Depreciation and amortization of premises and equipment | 1,273 | 1,298 |
Net amortization of securities | 1,009 | 1,184 |
Net gains on sales of securities available-for-sale | (8) | |
Net gains on sales of assets held for sale | (189) | (162) |
Net gains on sales of loans | (7,476) | (8,082) |
Originations of government guaranteed loans | (82,125) | (61,918) |
Proceeds from government guaranteed loans sold | 104,604 | 70,410 |
Accretion of premiums and discounts on acquired loans, net | (7,258) | (7,955) |
Net change in servicing assets | (215) | (132) |
Net valuation adjustments on other real estate owned | 81 | 276 |
Net gains on sales of other real estate owned | (64) | (1,228) |
Other intangible assets amortization expense | 767 | 769 |
Amortization of time deposit premium | (5) | (463) |
Amortization of Federal Home Loan Bank advances premium | (19) | (52) |
Accretion of junior subordinated debentures discount | 153 | 204 |
Share-based compensation expense | 342 | 286 |
Deferred tax provision | 1,284 | 4,220 |
Increase in cash surrender value of bank owned life insurance | (120) | (119) |
Changes in assets and liabilities: | ||
Accrued interest receivable | 673 | (666) |
Other assets | 622 | 739 |
Accrued interest payable | 306 | (534) |
Accrued expenses and other liabilities | 4,944 | (1,418) |
Net cash provided by operating activities | 30,470 | 5,100 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available-for-sale | (72,646) | (745) |
Proceeds from maturities and calls of securities available-for-sale | 5,430 | 1,182 |
Proceeds from paydowns of securities available-for-sale | 14,691 | 17,718 |
Proceeds from sales of securities available-for-sale | 8 | |
Proceeds from paydowns of securities held-to-maturity | 4,050 | 5,337 |
Purchases of Federal Home Loan Bank stock | (6,282) | (2,610) |
Federal Home Loan Bank stock repurchases | 5,448 | 8,100 |
Proceeds from other loans sold | 9,984 | |
Net change in loans and leases | (10,723) | (9,412) |
Purchases of premises and equipment | (63) | (797) |
Proceeds from sales of assets held for sale | 954 | 2,752 |
Proceeds from sales of other real estate owned | 1,187 | 5,157 |
Net cash (used in) provided by investing activities | (57,954) | 36,674 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 81,223 | 85,908 |
Proceeds from Federal Home Loan Bank advances | 1,589,900 | 825,000 |
Repayments of Federal Home Loan Bank advances | (1,571,387) | (929,000) |
Repayments of line of credit | (2,500) | |
Net (decrease) increase in securities sold under agreements to repurchase | (3,372) | 14,691 |
Dividends paid on preferred stock | (193) | (189) |
Proceeds from issuance of common stock upon exercise of stock options | 1,005 | |
Proceeds from issuance of preferred stock | 1,050 | |
Net cash provided by (used in) financing activities | 97,176 | (5,040) |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 69,692 | 36,734 |
CASH AND CASH EQUIVALENTS, beginning of period | 58,349 | 46,533 |
CASH AND CASH EQUIVALENTS, end of period | 128,041 | 83,267 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 4,012 | 3,795 |
Cash payments during the period for taxes | 63 | 832 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Change in fair value of available-for-sale securities, net of tax | (6,457) | 386 |
Change in fair value of cash flow hedges, net of tax | 2,893 | (18) |
Delayed payments of mortgage-backed securities | 726 | 372 |
Change in due to broker | 9,838 | (9,978) |
Transfers of loans to loans held for sale | 10,061 | |
Transfers of loans to other real estate owned | 1,044 | 808 |
Transfers of land and premises to assets held for sale | 1,508 | |
Transfers of premises and equipment to other assets | $ 502 | |
Transfers of other assets to assets held for sale | $ 16 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1—Basis of Presentation These unaudited interim condensed consolidated financial statements include the accounts of Byline Illinois state chartered These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2018 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Consolidated Financial Statements for the years ended December 31, 2017, 2016, and 2015. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 855, “Subsequent Events,” the Company’s management has evaluated subsequent events for potential recognition or disclosure through the date of the issuance of these consolidated financial statements. No subsequent events were identified that would have required a change to the consolidated financial statements or disclosure in the notes to the consolidated financial statements. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or stockholders’ equity. During the three months ended March 31, 2018, we revised our previously issued 2017 consolidated financial statements to properly record a deferred tax liability associated with the bad debt recapture assumed from the acquisition of Ridgestone Financial Services, Inc. (“Ridgestone”) and its subsidiaries on October 14, 2016. The acquisition of Ridgestone was accounted for using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Assets acquired, liabilities assumed and consideration exchanged were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities involves significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair value adjustments associated with this transaction were finalized during the fourth quarter of 2017. We evaluated the effect of the error to our previously issued consolidated financial statements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 99 and No. 108, and, based upon quantitative and qualitative factors, determined that the error was not material to our previously issued consolidated financial statements. Accordingly, we have reflected the change in 2017 and revised our Consolidated Statements of Financial Condition disclosed herein. Consolidated financial statements for periods not presented herein will be revised, as applicable, as they are included in future filings. All financial information presented in the accompanying notes to these consolidated financial statements was revised to reflect the change. The change did not affect net income or stockholders’ equity for the periods impacted. The following table presents the effect of the aforementioned revisions to our Consolidated Statements of Financial Condition as of December 31, 2017: December 31, 2017 (dollars in thousands) As Reported Adjustment As Revised Goodwill $ 51,975 $ 2,587 $ 54,562 Deferred tax assets, net 49,963 (2,587 ) 47,376 Total assets 3,366,130 — 3,366,130 |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 2—Recently Issued Accounting Pronouncements The following reflect recent accounting pronouncements that have been adopted or are pending adoption by the Company. As the Company qualifies as an emerging growth company and has elected the extended transition period for complying with new or revised accounting pronouncements, it is not subject to new or revised accounting standards applicable to public companies during the extended transition period. The accounting pronouncements pending adoption below reflect effective dates for the Company as an emerging growth company with the extended transition period. Revenue from Contracts with Customers In May 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-09, deferred by ASU No. 2015-14 and clarifying standards, Revenue from Contracts with Customers , which creates Topics 606 and 610 and supersedes Topic 605, Revenue Recognition . The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In general, the new guidance requires companies to use more judgment and make more estimates than under current guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Under the terms of ASU No. 2015-14 the standard is effective for interim and annual periods beginning after December 15, 2017. Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. The Company is currently evaluating the provisions of ASU No. 2014-09 to determine the potential impact the standard will have on the Company’s Consolidated Financial Statements. As a financial institution, the Company’s largest component of revenue, interest income, is excluded from the scope of this ASU. The Company is currently evaluating which, if any, of its sources of non-interest income will be impacted by this ASU. Assuming the Company remains an emerging growth company, the Company expects to adopt this new guidance on January 1, 2019, with a cumulative effect adjustment to opening retained earnings, if such adjustment is deemed to be significant. In April 2016, FASB issued ASU No. 2016-10, Identifying Performance Obligations and Licensing . The amendments in this ASU do not change the core principle of the guidance in Topic 606. Rather, the amendments in this ASU clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance, while retaining the related principles for those areas. The amendments in this ASU affect the guidance in ASU 2014-09, discussed above, which is not yet effective. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in Topic 606, Revenues from Contracts with Customers . The Company is evaluating the provisions of this ASU in conjunction with ASU No. 2014-09 to determine the potential impact Topic 606 and its amendments will have on the Company’s Consolidated Financial Statements. In May 2016, FASB issued ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients Revenue from Contracts with Customers In November 2017, FASB issued ASU No. 2017-14, amending ASC Topic 606, Revenue from Contracts with Customers Revenue from Contracts with Customers Recognition and Measurement of Financial Assets and Financial Liabilities Recognition and Measurement of Financial Assets and Financial Liabilities In March 2018, FASB issued ASU No. 2018-03, Recognition and Measurement of Financial Assets and Financial Liabilities Leases (Topic 842) In February 2016, FASB issued ASU No. 2016-02, Leases . The amendments in this ASU require lessees to recognize the following for all leases (with the exception of short-term) at the commencement date; a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The amendments in this ASU leave lessor accounting largely unchanged, although certain targeted improvements were made to align lessor accounting with the lessee accounting model. This ASU simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is evaluating the new guidance and its impact on the Company’s Consolidated Statements of Operations and Consolidated Statements of Financial Condition. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company expects an increase in assets and liabilities as a result of recognizing additional lease contracts where the Company is a lessee. Derivatives and Hedging (Topic 815) In August 2017, FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities . The amendments in this ASU better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The new authoritative guidance will be effective for reporting periods after January 1, 2019 with early adoption permitted. The Company is evaluating the new guidance and its impact on the Company’s Consolidated Statements of Operations and Consolidated Statements of Financial Condition. Compensation—Stock Compensation (Topic 718) In March 2016, FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting . FASB issued this ASU as part of its Simplification Initiative. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Amendments in this ASU relate to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments in this ASU require recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments in this ASU related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. The amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. This ASU became effective for the Company on January 1, 2017 and did not have a material impact on the Company’s Consolidated Financial Statements. In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting Financial Instruments—Credit Losses (Topic 326) In June 2016, FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this ASU require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The amendments in this ASU broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more decision useful to users of the financial statements. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2021. The Company is still evaluating the effects this ASU will have on the Company’s Consolidated Financial Statements. While the Company has not quantified the impact of this ASU, it does expect changing from the current incurred loss model to an expected loss model will result in an earlier recognition of losses. Statement of Cash Flows (Topic 230) In August 2016, FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments . There is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230 and other Topics. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. Those eight issues are (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transactions, and (8) separately identifiable cash flows and application of the predominance principle. Current GAAP either is unclear or does not include specific guidance on these eight cash flow classification issues. These amendments provide guidance for each of the eight issues, thereby reducing current and potential future diversity in practice. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company is currently evaluating the provisions of ASU No. 2016-15 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (230), Restricted Cash Income Taxes (Topic 740) In October 2016, the FASB issued ASU No. 2016-16, Income Taxes, Intra-Entity Transfers of Assets Other Than Inventory . The ASU was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party; this update clarifies that an entity should recognize the income tax consequences of an intra-entity transfer of assets other than inventory when the transfer occurs. The amendment is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption of the update is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company does not expect this ASU to have a material impact on the Company’s Consolidated Financial Statements. Business Combinations (Topic 805) In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business . The guidance clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. This guidance is effective for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company does not expect a material impact of this ASU on the Company’s Consolidated Financial Statements. Intangibles—Goodwill and Other (Topic 350) In January 2017, FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment . The amendments in this ASU are intended to reduce the cost and complexity of the goodwill impairment test by eliminating step two from the impairment test. The amendments modify the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. Under the amendments in this ASU, an entity will perform its annual, or interim, goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount. An impairment charge should be recognized for the amount which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments in this ASU are effective for the Company’s annual or any interim goodwill impairment test in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted these amendments in 2017, which did not have a material impact on the Company’s Consolidated Financial Statements. Other Income (Subtopic 610-20) In February 2017, the FASB issued ASU No. 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets . This ASU will clarify the scope of Subtopic 610-20 and add guidance for partial sales of nonfinancial assets. The amendments should be applied either on retrospectively to each period presented or with a modified retrospective approach. The amendment is effective for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The Company is currently evaluating the provisions of ASU No. 2017-05 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Nonrefundable Fees and Other Costs (Subtopic 310-20) In March 2017, FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs. The amendments in the ASU shorten the amortization period for certain callable debt securities held at a premium at the earliest call date. Under current GAAP, the Company amortizes the premium as an adjustment of yield over the contractual life of the instrument. As a result, upon exercise of a call on a callable debt security held at a premium, the unamortized premium is charged to earnings. The ASU shortens the amortization period for certain callable debt securities held at a premium and requires the premium to be amortized to the earliest call date. However, the amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments are effective for annual periods beginning after December 15, 2019, and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. The Company is required to apply the amendments on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company is currently evaluating the provisions of ASU No. 2017-08 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815) In July 2017, FASB issued ASU No. 2017-11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception . The ASU simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. Down round features are common in warrants, convertible preferred shares, and convertible debt instruments. The ASU requires companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The amendments are effective for annual periods beginning after December 15, 2019, and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company is currently evaluating the provisions of ASU No. 2017‑11 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Income Statement—Reporting Comprehensive Income (Topic 220) In February 2018, FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act. The ASU provides reporting entities with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The ASU requires reporting entities to disclose: a description of the accounting policy for releasing income tax effects from AOCI; whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and information about the other income tax effects that are reclassified. The amendments affect any organization that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income , and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments are effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company early adopted the new guidance on January 1, 2018. The adoption did not impact the Company’s Statements of Operations, and resulted in a reclassification of $763,000 from accumulated other comprehensive income to retained earnings. Financial Services—Depository and Lending (Topic 942) In May 2018, FASB issued ASU No. 2018-06, Codification Improvements to Topic 942, Depository and Lending — Income Taxes . The amendments in this ASU supersede the guidance within Subtopic 942-741 that has been rescinded by the OCC and no longer relevant. A cross-reference between Subtopic 740-30, Income Taxes—Other Considerations or Special Areas, and Subtopic 942-740 is being added to the remaining guidance in Subtopic 740-30 to improve the usefulness of the codification. The amendments in this Update are effective upon issuance, as no accounting requirements are affected. The amendments in this ASU do not have a material impact on the Company’s Consolidated Financial Statements. |
Acquisition of a Business
Acquisition of a Business | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Acquisition of a Business | Note 3—Acquisition On October 14, 2016, the Company acquired stock of Ridgestone Financial Services, Inc. (“Ridgestone”) and its subsidiaries under the terms of a definitive merger agreement (“Agreement”) dated June 9, 2016. Ridgestone operated two wholly-owned subsidiaries, Ridgestone Bank and RidgeStone Capital Trust I, and specialized in government guaranteed lending as a participant in the SBA and USDA lending programs. Ridgestone provided financial services through its two full-service banking offices in Brookfield, Wisconsin and Schaumburg, Illinois. In addition, Ridgestone had loan production offices located in Wisconsin (Green Bay and Wausau), Indiana (Indianapolis) and California (Newport Beach). Under the terms of the Agreement, each Ridgestone common share was converted into the right to receive, at the election of the stockholder (subject to proration as outlined in the Agreement), either cash or Company common stock, or the combination of both. Total consideration included aggregate cash in the amount of $36.8 million and the issuance of 4,199,791 shares of the Company’s common stock valued at $16.25 per common share. The transaction resulted in goodwill of $28.9 million, which is nondeductible for tax purposes, as this acquisition was a nontaxable transaction. Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired and reflects related synergies expected from the combined operations. Acquisition advisory expenses related to the Ridgestone acquisition of $1.6 million are reflected in non-interest expense on the Consolidated Statements of Operations. Stock issuance costs were not material. There were no contingent assets or liabilities arising from the acquisition. The acquisition of Ridgestone was accounted for using the acquisition method of accounting in accordance with ASC Topic 805. Assets acquired, liabilities assumed and consideration exchanged were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities involves significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair value adjustments associated with this transaction were finalized during the fourth quarter of 2017. The following table presents a summary of the estimates of fair values of assets acquired and liabilities assumed as of the acquisition date: Assets Cash and cash equivalents $ 25,480 Securities available-for-sale 27,662 Restricted stock 931 Loans held for sale 15,363 Loans 351,820 Servicing assets 20,295 Premises and equipment 2,011 Other real estate owned 1,525 Other intangible assets 486 Bank-owned life insurance 2,352 Other assets 5,641 Total assets acquired 453,566 Liabilities Deposits 361,370 Federal Home Loan Bank advances 9,773 Junior subordinated debentures 1,339 Accrued expenses and other liabilities 4,958 Total liabilities assumed 377,440 Net assets acquired $ 76,126 Consideration paid Common stock (4,199,791 shares issued at $16.25 per share) 68,247 Cash paid 36,753 Total consideration paid 105,000 Goodwill $ 28,874 The following table presents the acquired non-impaired loans as of the acquisition date: Fair value $ 312,166 Gross contractual amounts receivable 450,292 Estimate of contractual cash flows not expected to be collected (1) 19,661 Estimate of contractual cash flows expected to be collected 430,631 (1) Includes interest payments not expected to be collected due to loan prepayments as well as principal and interest payments not expected to be collected due to customer default. The discount on the acquired non-impaired loans is being accreted into income over the life of the loans on an effective yield basis. The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities of Ridgestone for periods from January 1, 2017 through March 31, 2017 and January 1, 2018 through March 31, 2018. Revenues and earnings of the acquired company since the acquisition date have not been disclosed as it is not practicable as Ridgestone was merged into the Company and separate financial information is not readily available. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | Note 4—Securities The following March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale U.S. Treasury Notes $ 22,934 $ 2 $ (195 ) $ 22,741 U.S. Government agencies 64,293 46 (1,718 ) 62,621 Obligations of states, municipalities, and political subdivisions 32,876 21 (749 ) 32,148 Residential mortgage-backed securities Agency 321,957 — (12,907 ) 309,050 Non-agency 55,341 — (1,067 ) 54,274 Commercial mortgage-backed securities Agency 76,866 76 (2,815 ) 74,127 Non-agency 31,688 — (1,344 ) 30,344 Corporate securities 35,257 315 (209 ) 35,363 Other securities 3,628 1,875 (114 ) 5,389 Total $ 644,840 $ 2,335 $ (21,118 ) $ 626,057 March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity Obligations of states, municipalities, and political subdivisions $ 23,982 $ 44 $ (335 ) $ 23,691 Residential mortgage-backed securities Agency 49,946 — (822 ) 49,124 Non-agency 38,338 — (734 ) 37,604 Total $ 112,266 $ 44 $ (1,891 ) $ 110,419 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale U.S. Treasury Notes $ 14,999 $ — $ (136 ) $ 14,863 U.S. Government agencies 54,248 — (1,290 ) 52,958 Obligations of states, municipalities, and political subdivisions 33,405 100 (335 ) 33,170 Residential mortgage-backed securities Agency 315,103 — (7,646 ) 307,457 Non-agency 39,485 104 (75 ) 39,514 Commercial mortgage-backed securities Agency 70,964 45 (1,966 ) 69,043 Non-agency 31,763 — (792 ) 30,971 Corporate securities 29,573 507 (104 ) 29,976 Other securities 3,627 1,730 (73 ) 5,284 Total $ 593,167 $ 2,486 $ (12,417 ) $ 583,236 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity Obligations of states, municipalities, and political subdivisions $ 24,030 $ 197 $ (82 ) $ 24,145 Residential mortgage-backed securities Agency 53,731 79 (203 ) 53,607 Non-agency 39,402 174 (51 ) 39,525 Total $ 117,163 $ 450 $ (336 ) $ 117,277 The Company did not classify securities as trading during the three months ended March 31, 2018 or during 2017. Gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2018 and December 31, 2017 are summarized as follows: Less than 12 Months 12 Months or Longer Total March 31, 2018 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-sale U.S. Treasury Notes 6 $ 9,954 $ (12 ) $ 9,817 $ (183 ) $ 19,771 $ (195 ) U.S. Government agencies 9 989 (10 ) 51,558 (1,708 ) 52,547 (1,718 ) Obligations of states, municipalities and political subdivisions 36 22,418 (475 ) 4,374 (274 ) 26,792 (749 ) Residential mortgage-backed securities Agency 43 33,601 (598 ) 275,450 (12,309 ) 309,051 (12,907 ) Non-agency 6 49,937 (885 ) 4,337 (182 ) 54,274 (1,067 ) Commercial mortgage-backed securities Agency 8 7,228 (24 ) 55,306 (2,791 ) 62,534 (2,815 ) Non-agency 5 — — 30,344 (1,344 ) 30,344 (1,344 ) Corporate securities 6 8,438 (131 ) 2,434 (78 ) 10,872 (209 ) Other securities 1 — — 1,880 (114 ) 1,880 (114 ) Total 120 $ 132,565 $ (2,135 ) $ 435,500 $ (18,983 ) $ 568,065 $ (21,118 ) Less than 12 Months 12 Months or Longer Total March 31, 2018 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Held-to-maturity Obligations of states, municipalities, and political subdivisions 24 $ 15,870 $ (286 ) $ 1,539 $ (49 ) $ 17,409 $ (335 ) Residential mortgage-backed securities Agency 20 42,065 (572 ) 7,060 (250 ) 49,125 (822 ) Non-agency 7 33,441 (591 ) 4,162 (143 ) 37,603 (734 ) Total 51 $ 91,376 $ (1,449 ) $ 12,761 $ (442 ) $ 104,137 $ (1,891 ) Less than 12 Months 12 Months or Longer Total December 31, 2017 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-sale U.S. Treasury Notes 5 $ 4,998 $ (2 ) $ 9,865 $ (134 ) $ 14,863 $ (136 ) U.S. Government agencies 9 992 (7 ) 51,966 (1,283 ) 52,958 (1,290 ) Obligations of states, municipalities and political subdivisions 29 16,059 (137 ) 4,453 (198 ) 20,512 (335 ) Residential mortgage-backed securities Agency 41 15,441 (181 ) 292,016 (7,465 ) 307,457 (7,646 ) Non-agency 1 — — 4,565 (75 ) 4,565 (75 ) Commercial mortgage-backed securities Agency 7 — — 57,442 (1,966 ) 57,442 (1,966 ) Non-agency 5 — — 30,971 (792 ) 30,971 (792 ) Corporate securities 3 2,406 (80 ) 2,489 (24 ) 4,895 (104 ) Other securities 1 — — 1,921 (73 ) 1,921 (73 ) Total 101 $ 39,896 $ (407 ) $ 455,688 $ (12,010 ) $ 495,584 $ (12,417 ) Less than 12 Months 12 Months or Longer Total December 31, 2017 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Held-to-maturity Obligations of states, municipalities, and political subdivisions 12 $ 7,409 $ (38 ) $ 1,548 $ (44 ) $ 8,957 $ (82 ) Residential mortgage-backed securities Agency 13 24,344 (107 ) 7,935 (96 ) 32,279 (203 ) Non-agency 3 10,458 (10 ) 4,382 (41 ) 14,840 (51 ) Total 28 $ 42,211 $ (155 ) $ 13,865 $ (181 ) $ 56,076 $ (336 ) Certain o available-for-sale The proceeds three months ended March 31, 2018 For the Three Months Ended March 31, 2018 2017 Proceeds $ — $ 8 Gross gains — 8 Gross losses — — There were no gains or losses reclassified from income ( three months ended March 31, 2017 Securities pledged at March 31, 2018 and December 31, 2017 had carrying amounts of $348.6 million and $262.5 million, At March 31, 2018, the Amortized Cost Fair Value Available-for-sale Due in one year or less $ 5,695 $ 5,689 Due from one to five years 88,763 87,589 Due from five to ten years 47,396 46,274 Due after ten years 14,042 14,013 Mortgage-backed securities 485,852 467,795 Other securities with no defined maturity 3,092 4,697 Total $ 644,840 $ 626,057 Held-to-maturity Due from one to five years $ 3,523 $ 3,500 Due from five to ten years 11,706 11,523 Due after ten years 8,753 8,668 Mortgage-backed securities 88,284 86,728 Total $ 112,266 $ 110,419 |
Loan and Lease Receivables
Loan and Lease Receivables | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loan and Lease Receivables | Note 5—Loan Outstanding loan and lease receivables as of the dates shown were categorized as follows: March 31, December 31, 2018 2017 Commercial real estate $ 840,958 $ 891,971 Residential real estate 568,030 577,123 Construction, land development, and other land 117,597 105,996 Commercial and industrial 569,647 522,254 Installment and other 4,082 4,182 Lease financing receivables 177,932 174,165 Total loans and leases 2,278,246 2,275,691 Net unamortized deferred fees and costs (1,357 ) (1,720 ) Initial direct costs 3,529 3,521 Allowance for loan and lease losses (17,640 ) (16,706 ) Net loans and leases $ 2,262,778 $ 2,260,786 March 31, December 31, 2018 2017 Lease financing receivables Net minimum lease payments $ 193,146 $ 188,986 Unguaranteed residual values 1,613 1,644 Unearned income (16,827 ) (16,465 ) Total lease financing receivables 177,932 174,165 Initial direct costs 3,529 3,521 Lease financial receivables before allowance for lease losses $ 181,461 $ 177,686 Total loans and leases consist of originated loans and leases, acquired impaired loans and acquired non-impaired loans and leases. At March 31, 2018 and December 31, 2017, total loans and leases included the guaranteed amount of U.S. Government guaranteed loans of $73.2 million and $77.0 million, respectively. At March 31, 2018 and December 31, 2017, installment and other loans included overdraft deposits of $467,000 and $617,000, respectively, which were reclassified as loans. At March 31, 2018 and December 31, 2017, loans and loans held for sale pledged as security for borrowings were $530.0 million and $516.9 million, respectively. The minimum Minimum Lease Payments 2018 $ 51,913 2019 58,980 2020 42,897 2021 25,541 2022 12,131 Thereafter 1,684 Total $ 193,146 Originated loan Topic Topic March 31, 2018 Originated Acquired Impaired Acquired Non- Impaired Total Commercial real estate $ 485,324 $ 157,956 $ 197,589 $ 840,869 Residential real estate 397,516 139,858 30,785 568,159 Construction, land development, and other land 110,092 5,156 1,822 117,070 Commercial and industrial 470,689 8,055 89,985 568,729 Installment and other 3,645 449 36 4,130 Lease financing receivables 151,468 — 29,993 181,461 Total loans and leases $ 1,618,734 $ 311,474 $ 350,210 $ 2,280,418 December 31, 2017 Originated Acquired Impaired Acquired Non- Impaired Total Commercial real estate $ 513,622 $ 166,712 $ 211,359 $ 891,693 Residential real estate 400,571 144,562 32,085 577,218 Construction, land development, and other land 97,638 5,946 1,845 105,429 Commercial and industrial 416,499 10,008 94,731 521,238 Installment and other 3,724 462 42 4,228 Lease financing receivables 141,329 — 36,357 177,686 Total loans and leases $ 1,573,383 $ 327,690 $ 376,419 $ 2,277,492 The outstanding March 31, 2018 December 31, 2017 Outstanding Balance Carrying Value Outstanding Balance Carrying Value Commercial real estate $ 227,322 $ 157,956 $ 235,898 $ 166,712 Residential real estate 200,524 139,858 207,660 144,562 Construction, land development, and other land 13,108 5,156 13,270 5,946 Commercial and industrial 16,079 8,055 18,333 10,008 Installment and other 1,796 449 1,819 462 Total acquired impaired loans $ 458,829 $ 311,474 $ 476,980 $ 327,690 The following table summarizes the changes in accretable yield for acquired impaired loans for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Beginning balance $ 36,446 $ 36,868 Accretion to interest income (5,691 ) (5,684 ) Reclassification from nonaccretable difference, net 8,545 3,560 Ending balance $ 39,300 $ 34,744 Acquired non-impaired loans and leases —The unpaid principal balance and carrying value for acquired non-impaired loans and leases at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 Unpaid Principal Balance Carrying Value Unpaid Principal Balance Carrying Value Commercial real estate $ 203,539 $ 197,589 $ 221,710 $ 211,359 Residential real estate 31,291 30,785 32,605 32,085 Construction, land development, and other land 1,881 1,822 1,926 1,845 Commercial and industrial 100,894 89,985 105,529 94,731 Installment and other 350 36 355 42 Lease financing receivables 31,227 29,993 37,476 36,357 Total acquired non-impaired loans and leases $ 369,182 $ 350,210 $ 399,601 $ 376,419 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments | Note 6—Allowance for Loans and leases The following March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Allowance for loan and lease losses Three months ended Beginning balance $ 4,794 $ 1,638 $ 222 $ 7,418 $ 41 $ 2,593 $ 16,706 Provisions (releases) 934 (74 ) 397 3,424 20 414 5,115 Charge-offs (409 ) — (418 ) (3,085 ) — (510 ) (4,422 ) Recoveries — — — 6 — 235 241 Ending balance $ 5,319 $ 1,564 $ 201 $ 7,763 $ 61 $ 2,732 $ 17,640 Ending balance: Individually evaluated for impairment $ 1,572 $ 153 $ — $ 2,963 $ 14 $ — $ 4,702 Collectively evaluated for impairment 1,827 1,036 177 3,626 11 2,732 9,409 Loans acquired with deteriorated credit quality 1,920 375 24 1,174 36 — 3,529 Total allowance for loan and lease losses $ 5,319 $ 1,564 $ 201 $ 7,763 $ 61 $ 2,732 $ 17,640 March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Loans and leases ending balance: Individually evaluated for impairment $ 12,375 $ 2,029 $ — $ 12,598 $ 14 $ — $ 27,016 Collectively evaluated for impairment 670,538 426,272 111,914 548,076 3,667 181,461 1,941,928 Loans acquired with deteriorated credit quality 157,956 139,858 5,156 8,055 449 — 311,474 Total loans and leases $ 840,869 $ 568,159 $ 117,070 $ 568,729 $ 4,130 $ 181,461 $ 2,280,418 March 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Allowance for loan and lease losses Three months ended Beginning balance $ 1,945 $ 2,483 $ 742 $ 4,196 $ 334 $ 1,223 $ 10,923 Provisions (releases) 340 1 (325 ) 855 (3 ) 1,023 1,891 Charge-offs (238 ) (67 ) — (215 ) — (770 ) (1,290 ) Recoveries — — — — — 293 293 Ending balance $ 2,047 $ 2,417 $ 417 $ 4,836 $ 331 $ 1,769 $ 11,817 Ending balance: Individually evaluated for impairment $ — $ 282 $ 26 $ 966 $ 325 $ — $ 1,599 Collectively evaluated for impairment 1,622 1,470 391 3,210 5 1,769 8,467 Loans acquired with deteriorated credit quality 425 665 — 660 1 — 1,751 Total allowance for loan and lease losses $ 2,047 $ 2,417 $ 417 $ 4,836 $ 331 $ 1,769 $ 11,817 March 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Loans and leases ending balance: Individually evaluated for impairment $ 9,764 $ 1,262 $ 85 $ 3,317 $ 327 $ — $ 14,755 Collectively evaluated for impairment 611,397 430,469 99,114 432,036 2,054 162,675 1,737,745 Loans acquired with deteriorated credit quality 201,689 169,676 6,116 13,114 439 — 391,034 Total loans and leases $ 822,850 $ 601,407 $ 105,315 $ 448,467 $ 2,820 $ 162,675 $ 2,143,534 The Company increased the allowance for loan and lease losses by $934,000 and $894,000 for the three months ended March 31, 2018 and 2017, respectively. For acquired impaired loans, the Company decreased the allowance for loan and lease losses by $345,000 for the three months ended March 31, 2018. The Company increased the allowance for loan and lease losses for acquired impaired loans by $140,000 for the three months ended March 31, 2017. The following and March 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded Commercial real estate $ 6,151 $ 7,116 $ — Residential real estate 1,682 1,653 — Commercial and industrial 6,441 7,678 — With an allowance recorded Commercial real estate 6,224 7,684 1,572 Residential real estate 347 345 153 Commercial and industrial 6,157 9,160 2,963 Installment and other 14 14 14 Total impaired loans $ 27,016 $ 33,650 $ 4,702 December 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded Commercial real estate $ 11,425 $ 12,936 $ — Residential real estate 2,075 2,046 — Commercial and industrial 5,470 6,774 — With an allowance recorded Commercial real estate 2,459 2,634 1,101 Residential real estate 354 351 158 Commercial and industrial 9,314 9,724 2,692 Installment and other 14 14 14 Total impaired loans $ 31,111 $ 34,479 $ 3,965 The following tables summarize the average recorded investment and interest income recognized for loans and leases considered impaired, which excludes acquired impaired loans, for the periods ended as follows: March 31, 2018 Average Recorded Investment Interest Income Recognized With no related allowance recorded Commercial real estate $ 9,039 $ 103 Residential real estate 1,930 10 Commercial and industrial 7,300 62 With an allowance recorded Commercial real estate 4,122 37 Residential real estate 351 1 Commercial and industrial 6,975 102 Installment and other 14 — Total impaired loans $ 29,731 $ 315 March 31, 2017 Average Recorded Investment Interest Income Recognized With no related allowance recorded Commercial real estate $ 9,798 $ 130 Residential real estate 787 7 Commercial and industrial 1,402 60 With an allowance recorded Residential real estate 488 1 Construction, land development and other land 86 6 Commercial and industrial 1,881 3 Installment and other 328 4 Total impaired loans $ 14,770 $ 211 For purposes The following March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Pass $ 593,209 $ 393,416 $ 85,634 $ 465,449 $ 3,648 $ 178,759 $ 1,720,115 Watch 65,816 29,875 23,127 64,914 2 159 183,893 Special Mention 10,665 2,573 3,153 12,272 17 1,092 29,772 Substandard 13,223 2,437 — 18,039 14 1,162 34,875 Doubtful — — — — — 289 289 Loss — — — — — — — Total $ 682,913 $ 428,301 $ 111,914 $ 560,674 $ 3,681 $ 181,461 $ 1,968,944 December 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Pass $ 638,066 $ 398,743 $ 73,935 $ 415,163 $ 3,732 $ 174,672 $ 1,704,311 Watch 58,217 29,165 22,380 67,024 20 190 176,996 Special Mention 14,645 2,251 3,168 13,535 — 1,293 34,892 Substandard 14,053 2,497 — 15,508 14 1,259 33,331 Doubtful — — — — — 272 272 Loss — — — — — — — Total $ 724,981 $ 432,656 $ 99,483 $ 511,230 $ 3,766 $ 177,686 $ 1,949,802 The following tables summarize contractual delinquency information for acquired non-impaired and originated loans and leases by category at March 31, 2018 and December 31, 2017: March 31, 2018 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days and Accruing Non- accrual Total Past Due Current Total Commercial real estate $ 9,266 $ — $ — $ 8,194 $ 17,460 $ 665,453 $ 682,913 Residential real estate 79 — — 1,848 1,927 426,374 428,301 Construction, land development, and other land — — — — — 111,914 111,914 Commercial and industrial 10,064 1,704 — 12,916 24,684 535,990 560,674 Installment and other 17 — — 14 31 3,650 3,681 Lease financing receivables 1,282 377 — 654 2,313 179,148 181,461 Total $ 20,708 $ 2,081 $ — $ 23,626 $ 46,415 $ 1,922,529 $ 1,968,944 December 31, 2017 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days and Accruing Non- accrual Total Past Due Current Total Commercial real estate $ 4,783 $ 968 $ — $ 8,459 $ 14,210 $ 710,771 $ 724,981 Residential real estate 148 — — 2,092 2,240 430,416 432,656 Construction, land development, and other land — — — — — 99,483 99,483 Commercial and industrial 6,667 967 — 4,348 11,982 499,248 511,230 Installment and other 18 — — 14 32 3,734 3,766 Lease financing receivables 997 638 — 851 2,486 175,200 177,686 Total $ 12,613 $ 2,573 $ — $ 15,764 $ 30,950 $ 1,918,852 $ 1,949,802 At March 31, 2018 and December 31, 2017, the a of $215,000 and $357,000 March 31, 2018 and December 31, 2017 Loans modified three months ended March 31, 2018 At March 31, 2018 and December 31, 2017, the three months ended March 31, 2018 and 2017 |
Servicing Assets
Servicing Assets | 3 Months Ended |
Mar. 31, 2018 | |
Transfers And Servicing [Abstract] | |
Servicing Assets | Note 7—Servicing Activity for the three months ended March 31, 2018 is Three Months Ended March 31, 2018 2017 Beginning balance $ 21,400 $ 21,091 Additions, net 2,102 1,422 Changes in fair value (1,887 ) (1,290 ) Ending balance $ 21,615 $ 21,223 Loans serviced as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Loan portfolios serviced for: SBA guaranteed loans 1,066,269 1,021,143 USDA guaranteed loans 93,650 91,758 Total $ 1,159,919 $ 1,112,901 The fair Generally, as interest rates rise on variable rate loans, loan prepayments increase due to an increase in refinance activity, which may result in a decrease in the fair value of servicing assets. Measurement of fair value is limited to the condition existing and the assumptions used as of a particular point in time, and those assumptions may change over time. Refer to Note 16—Fair Value Measurement for further details. |
Other Real Estate Owned
Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2018 | |
Banking And Thrift [Abstract] | |
Other Real Estate Owned | Note 8—Other Real Estate Owned The following table presents the change in other real estate owned (“OREO”) for the three months ended March 31, 2018 and 2017. Three Months Ended March 31, 2018 2017 Beginning balance $ 10,626 $ 16,570 Net additions to OREO 1,044 808 Dispositions of OREO (1,123 ) (3,929 ) Valuation adjustments (81 ) (276 ) Ending balance $ 10,466 $ 13,173 At March 31, 2018 and December 31, 2017, the balance of real estate owned included $2.9 million and $3.6 million, respectively, of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At March 31, 2018 and December 31, 2017, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process is $2.4 million and $1.9 million, respectively. |
Goodwill, Core Deposit Intangib
Goodwill, Core Deposit Intangible and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill, Core Deposit Intangible and Other Intangible Assets | Note 9—Goodwill, Core Deposit Intangible and Other Intangible Assets The following table summarizes the changes in the Company’s goodwill and core deposit intangible assets for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Goodwill Core Intangible Goodwill Core Deposit Intangible Beginning balance $ 54,562 $ 16,720 $ 51,975 $ 19,776 Amortization or accretion — (761 ) — (765 ) Ending balance $ 54,562 $ 15,959 $ 51,975 $ 19,011 Accumulated amortization or accretion N/A $ 14,227 N/A $ 11,175 Weighted average remaining amortization or accretion period N/A 5.4 years N/A 6.4 Years The Company had other intangible assets of $32,000 and $36,000 as of March 31, 2018 and December 31, 2017, respectively, related to trademark-related transactions. The following table presents the estimated amortization expense for core deposit intangible and other intangible assets recognized at March 31, 2018: Estimated Amortization 2018 $ 2,295 2019 3,050 2020 3,027 2021 3,017 2022 3,010 Thereafter 1,592 Total $ 15,991 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10—Income The Company uses an estimated annual effective tax rate method in computing its interim tax provision. This effective tax rate is based on forecasted annual pre-tax income, permanent tax differences and statutory tax rates. The effective tax rates for the three months ended March 31, 2018 and 2017 were 16.3% and 40.9%, respectively. The reduction in the effective tax rate is primarily a result of the passage of the Tax Cuts and Jobs Act (the “Tax Act”), which was enacted on December 22, 2017. Among other things, the Tax Act reduces the corporate federal income tax rate from 35% to 21%, effective January 1, 2018. Also on December 22, 2017, the SEC issued Staff Accounting Bulletin 118 (“SAB 118”), which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, not to extend beyond one year from the date of enactment during which a company, acting in good faith, may complete the accounting for the impacts of the Tax Act. The Company recorded a net income tax benefit of $724,000 as a result of the rate change. Net deferred tax assets remained relatively unchanged at $47.4 million at March 31, 2018 compared to December 31, 2017. The reduction in the Company’s net operation loss carryforwards being applied to the current year tax liability was offset by an increase in its deferred tax asset related to unrealized holding losses on securities available-for-sale. |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Deposits | Note 11—Deposits The composition of deposits was as follows as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Non-interest bearing demand deposits $ 749,892 $ 760,887 Interest bearing checking accounts 196,802 186,611 Money market demand accounts 382,282 349,862 Other savings 439,277 437,212 Time deposits (below $250,000) 665,541 627,255 Time deposits ($250,000 and above) 90,753 81,502 Total deposits $ 2,524,547 $ 2,443,329 Time deposits of $250,000 or more included no |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances | 3 Months Ended |
Mar. 31, 2018 | |
Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances | Note 12—Federal The following March 31, December 31, 2018 2017 Federal Home Loan Bank advances $ 380,000 $ 361,506 Weighted average cost 1.88 % 1.49 % At March 31, 2018, fixed-rate advances totaled $250.0 million with an interest rate of 2.02% and maturing June 2018. March 31, 2018, April The Company’s required investment in FHLB stock is $1 for every $20 in advances. Refer to Note 4 Securities for additional discussion. At March 31, 2018 and December 31, 2017, the Bank has additional borrowing capacity from the FHLB of $797.5 million and $795.0 million, respectively, subject to the availability of proper collateral. The Company hedges interest rates on borrowed funds using interest rate swaps through which the Company receives variable amounts and pays fixed amounts. Refer to Note 17—Derivative Instruments and Hedge Activities for additional information. |
Other Borrowings
Other Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Other Borrowings | Note 13—Other Borrowings The following is a summary of the Company’s other borrowings as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Securities sold under agreements to repurchase $ 27,815 $ 31,187 Line of credit — — Total $ 27,815 $ 31,187 Securities On March 31, 2018 3.75 March 31, 2018 The following March 31, December 31, 2018 2017 Federal Reserve Bank of Chicago discount window line $ 156,077 $ 144,248 Available federal funds lines 55,000 55,000 |
Junior Subordinated Debentures
Junior Subordinated Debentures | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Junior Subordinated Debentures | Note 14—Junior Subordinated Debentures At March 31, 2018 and December 31, 2017, the Name of Trust Aggregate Principal Amount March 31, 2018 Aggregate Principal Amount December 31, 2017 Stated Maturity Contractual Rate at March 31, 2018 Interest Rate Spread Metropolitan $ 35,000 $ 35,000 March 4.97 % Three-month LIBOR + 2.79% RidgeStone Capital Trust I 1,500 1,500 June 30, 2033 5.09 % Five-year LIBOR + 3.50% Total liability, at par 36,500 36,500 Discount (8,700 ) (8,853 ) Total liability, at carrying value $ 27,800 $ 27,647 March 31, 2018 As part of the Ridgestone acquisition, the Company assumed the obligations to RidgeStone Capital Trust I of $1.5 million in principal amount, which was formed for the issuance of trust preferred securities. Refer to Note 3—Acquisition of a Business for additional information. Beginning on June 30, 2008, the interest rate reset to the five-year LIBOR plus 3.50% (5.09% at March 31, 2018 and December 31, 2017), which is in effect until September 30, 2018 and updated every five years. Interest is paid on a quarterly basis. The Company has the right to redeem the debentures, in whole or in part, on any interest payment date on or after June 30, 2008. There was no accrued interest payable as of March 31, 2018 or December 31, 2017. The Trusts |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Note 15—Commitments Legal —I n th e ordinar y cours e o f business , th e Compan y an d Ban k hav e various outstandin g commitment s an d contingen t liabilitie s tha t ar e no t recognize d i n th e accompanyin g consolidated financia l statements . I n addition , th e Compan y ma y b e a defendan t i n certai n claim s an d lega l action s arisin g i n the ordinar y cours e o f business . I n th e opinio n o f management , afte r consultatio n wit h lega l counsel , th e ultimate dispositio n o f thes e matter s i s currentl y no t expecte d t o hav e a materia l advers e effec t o n th e Company’s Consolidated Statements of Financial Condition. Operating s —The Company has entered into various operating lease agreements primarily for facilities and land on which banking facilities are located. Certain lease agreements have renewal options at the end of the original lease term and certain lease agreements have escalation clauses in the rent payments. The minimum Minimum Commitments 2018 $ 2,307 2019 2,600 2020 2,089 2021 1,809 2022 972 Thereafter 2,073 Total $ 11,850 The Company’s During t C Commitments t —The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Statements of Financial Condition. The contractual or notional amounts of those instruments reflect the extent of involvement the Bank has in particular classes of financial instruments. The Company’s exposure The following March 31, 2018 and December 31, 2017 March 31, December 31, 2018 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit $ 58,074 $ 510,822 $ 55,924 $ 467,429 Standby letters of credit 2,570 3,538 1,226 3,337 Total $ 60,644 $ 514,360 $ 57,150 $ 470,766 Commitments Standby letters Commitments |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Note 16—Fair Value Measurement Fair These types Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available. The Company’s own data used to develop unobservable inputs may be adjusted for market considerations when reasonably available. A financial The Company used the Securities e —The Company obtains fair value measurements from an independent pricing service. Management reviews the procedures used by the third party, including significant inputs used in the fair value calculations. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. When market quotes are not readily accessible or available, alternative approaches are utilized, such as matrix or model pricing. The Company’s methodology for pricing non-rated bonds focuses on three distinct inputs: equivalent rating, yield and other pricing terms. To determine the rating for a given non-rated municipal bond, the Company references a publicly issued bond by the same issuer if available as well as other additional key metrics to support the credit worthiness. Typically, pricing for these types of bonds would require a higher yield than a similar rated bond from the same issuer. A reduction in price is applied to the rating obtained from the comparable bond, as the Company believes if liquidated, a non-rated bond would be valued less than a similar bond with a verifiable rating. The reduction applied by the Company is one notch lower (i.e. a “AA” rating for a comparable bond would be reduced to “AA-” for the Company’s valuation). In 2018 and 2017, all of the ratings derived by the Company were “BBB” or better with and without comparable bond proxies. The fair value measurement of municipal bonds is sensitive to the rating input, as a higher rating typically results in an increased valuation. The remaining pricing inputs used in the bond valuation are observable. Based on the rating determined, the Company obtains a corresponding current market yield curve available to market participants. Other terms including coupon, maturity date, redemption price, number of coupon payments per year, and accrual method are obtained from the individual bond term sheets. Servicing s —Fair value is based on a loan-by-loan basis taking into consideration the original term to maturity, the current age of the loan and the remaining term to maturity. The valuation methodology utilized for the servicing assets begins with generating future cash flows for each servicing asset, based on their unique characteristics and market-based assumptions for prepayment speeds. The present value of the future cash flows are then calculated utilizing market-based discount rate assumptions. Derivative s —Interest rate swaps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are validated by comparison with valuations provided by the respective counterparties. Derivative financial instruments are included in other assets and other liabilities in the Consolidated Statements of Financial Condition. The following Fair Value Measurements Using March 31, 2018 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 22,741 $ 22,741 $ — $ — U.S. Government agencies 62,621 — 62,621 — Obligations of states, municipalities, and political subdivisions 32,148 — 31,773 375 Mortgage-backed securities; residential Agency 309,050 — 309,050 — Non-agency 54,274 — 54,274 — Mortgage-backed securities; commercial Agency 74,127 — 74,127 — Non-agency 30,344 — 30,344 — Corporate securities 35,363 — 35,363 — Other securities 5,389 1,880 2,817 692 Servicing assets 21,615 — — 21,615 Derivative assets 10,500 — 10,500 — Financial liabilities Derivative liabilities 1,432 — 1,430 2 Fair Value Measurements Using December 31, 2017 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 14,863 $ 14,863 $ — $ — U.S. Government agencies 52,958 — 52,958 — Obligations of states, municipalities, and political subdivisions 33,170 — 32,795 375 Mortgage-backed securities; residential Agency 307,457 — 307,457 — Non-agency 39,514 — 39,514 — Mortgage-backed securities; commercial Agency 69,043 — 69,043 — Non-agency 30,971 — 30,971 — Corporate securities 29,976 — 29,976 — Other securities 5,284 1,921 2,686 677 Servicing assets 21,400 — — 21,400 Derivative assets 5,981 — 5,981 — Financial liabilities Derivative liabilities 994 — 994 — During 2016, the T he Company has purchased privately-issued municipal securities that are categorized as Level 3. These municipal securities are bonds issued for one municipal government entity located in the Chicago metropolitan area and are privately placed, non-rated bonds without Committee on Uniform Security Identification Procedures numbers. The Company did not have any transfers three months ended March 31, 2018 and The following table presents additional information about financial assets measured at fair value on recurring basis for which the Company used significant unobservable inputs (Level 3): Three Months Ended March 31, 2018 2017 2018 2017 Investment Securities Servicing Assets Balance, beginning of period $ 1,052 $ 1,080 $ 21,400 $ 21,091 Additions, net — — 2,102 1,422 Amortization 1 1 — — Change in unrealized loss 14 — — — Change in fair value — — (1,887 ) (1,290 ) Balance, end of period $ 1,067 $ 1,081 $ 21,615 $ 21,223 The following Financial Instruments Valuation Technique Unobservable Inputs Range of Inputs Weighted Average Range Impact to Valuation from an Increased or Higher Input Value Obligations of states, municipalities, and political obligations Discounted Probability of default 2.2%—2.4% 2.3 % Decrease Single issuer trust preferred Discounted cash flow Probability of default 7.5%—9.9% 8.9 % Decrease Servicing assets Discounted cash flow Prepayment speeds 5.6%—16.3% 9.3 % Decrease Discount rate 10.4%—20.6% 14.2 % Decrease Expected weighted average loan life 0.8—7.9 years 5.5 years Increase The Company used the Impaired ) —Impaired loans, other than those existing on the date of a business acquisition, are primarily carried at the fair value of the underlying collateral, less estimated costs to sell, if the loan is collateral dependent. Valuations of impaired loans that are collateral dependent are supported by third party appraisals in accordance with the Bank’s credit policy. Impaired loans that are not collateral dependent are not material. Assets e —Assets held for sale consist of former branch locations, vacant land, and a house previously purchased for expansion. Assets are considered held for sale when management has approved to sell the assets following a branch closure or other events. The properties are being actively marketed and transferred to assets held for sale based on the lower of carrying value or its fair value, less estimated costs to sell. Other d —Certain assets held within other real estate owned represent real estate or other collateral that has been adjusted to its estimated fair value, less cost to sell, as a result of transferring from the loan portfolio at the time of foreclosure or repossession and based on management’s periodic impairment evaluation. From time to time, non-recurring fair value adjustments to other real estate owned are recorded to reflect partial write-downs based on an observable market price or current appraised value of property. Adjustments Fair Value Measurements Using March 31, 2018 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 10,803 $ — $ — $ 10,803 Residential real estate 1,876 — — 1,876 Construction, land development, and other land — — — — Commercial and industrial 9,635 — — 9,635 Installment and other — — — — Assets held for sale 9,030 — — 9,030 Other real estate owned 10,466 — — 10,466 Fair Value Measurements Using December 31, 2017 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 12,783 $ — $ — $ 12,783 Residential real estate 2,271 — — 2,271 Construction, land development, and other land — — — — Commercial and industrial 12,092 — — 12,092 Installment and other — — — — Assets held for sale 9,779 — — 9,779 Other real estate owned 10,626 — — 10,626 The following Financial Instruments Valuation Technique Unobservable Inputs Range of Inputs Impact to Valuation from an Increased or Higher Input Value Impaired loans (excluding acquired impaired loans) Appraisals Appraisal adjustments, sales costs and other discount adjustments for market conditions 6% - 10% Decrease Assets held for sale List price, contract price Sales costs and other discount adjustments for market conditions 7% Decrease Other real estate owned Appraisals Appraisal adjustments, sales costs and other discount adjustments for market conditions 7% - 20% Decrease The following Cash and cash equivalent s —For these short-term instruments, the carrying amount is a reasonable estimate of fair value. The fair value for time certificates with other banks is based on the market values for comparable investments. Securities y —The Company obtains fair value measurements from an independent pricing service. Management reviews the procedures used by the third party, including significant inputs used in the fair value calculations. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. When market quotes are not readily accessible or available, alternative approaches are utilized, such as matrix or model pricing. Restricted k —The fair value has been determined to approximate cost. Loans held for — The fair value of loans held for sale are based on quoted market prices, where available, and determined by discounted estimated cash flows using interest rates approximating the Company’s current origination rates for similar loans adjusted to reflect the inherent credit risk. Loan —For certain variable rate loans that reprice frequently and with no significant changes in credit risk, fair value is estimated at carrying value. The fair value of other types of loans is estimated by discounting future cash flows, using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Deposit s —The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated by discounting future cash flows, using rates currently offered for deposits of similar remaining maturities. Federal —The fair value of FHLB advances is estimated by discounting the agreements based on maturities using rates currently offered for FHLB advances of similar remaining maturities adjusted for prepayment penalties that would be incurred if the borrowings were paid off on the measurement date. Securities e —The carrying amount approximates fair value due to maturities of less than ninety days. Junior subordinated debenture s —The fair value of junior subordinated debentures, in the form of trust preferred securities, is determined using rates currently available to the Company for debt with similar terms and remaining maturities. Accrued interest —The carrying amount approximates fair value. Commitments t —The fair values of these off-balance sheet commitments to extend credit and commercial and standby letters of credit are not considered practicable to estimate because of the lack of quoted market prices and the inability to estimate fair value without incurring excessive costs. The estimated March 31, December 31, Fair Value 2018 2017 Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets Cash and due from banks 1 $ 17,396 $ 17,396 $ 19,404 $ 19,404 Interest bearing deposits with other banks 2 110,645 110,645 38,945 38,945 Securities held-to-maturity 2 112,266 110,419 117,163 117,277 Other restricted stock 2 17,177 17,177 16,343 16,343 Loans held for sale 3 8,219 9,122 5,212 5,851 Loans and lease receivables, net 3 2,262,778 2,230,050 2,260,786 2,240,235 Accrued interest receivable 3 6,971 6,971 7,670 7,670 Financial liabilities Non-interest bearing deposits 2 749,892 749,892 760,887 760,887 Interest bearing deposits 2 1,774,655 1,769,476 1,682,442 1,678,535 Accrued interest payable 2 1,612 1,612 1,306 1,306 Line of credit 2 — — — — Federal Home Loan Bank advances 2 380,000 380,000 361,506 361,500 Securities sold under repurchase agreement 2 27,815 27,815 31,187 31,187 Junior subordinated debentures 3 27,800 34,025 27,647 33,907 |
Derivative Instruments and Hedg
Derivative Instruments and Hedge Activities | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedge Activities | Note 17—Derivative Instruments and Hedge Activities The Company recognizes derivative financial instruments at fair value regardless of the purpose or intent for holding the instrument. The Company records derivative assets and derivative liabilities on the Consolidated Statements of Financial Condition within accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively. The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Fair Value Fair Value Notional Amount Other Assets Other Liabilities Notional Amount Other Assets Other Liabilities Derivatives designated as hedging instruments Interest rate swaps designated as cash flow hedges $ 250,000 $ 9,047 $ — $ 250,000 $ 5,030 $ 38 Derivatives not designated as hedging instruments Other interest rate swaps 94,123 1,453 1,430 94,726 951 956 Other credit derivatives 1,250 — 2 — — — Total derivatives $ 345,373 $ 10,500 $ 1,432 $ 344,726 $ 5,981 $ 994 Interest rate swaps designated as cash flow hedges —Cash flow hedges of interest payments associated with certain FHLB advances had notional amounts totaling $250.0 million as of March 31, 2018 and December 31, 2017. The aggregate fair value of the swaps is recorded in other assets or other liabilities with changes in fair value recorded in other comprehensive income (loss), net of taxes, to the extent effective. The amount included in accumulated other comprehensive income (loss) would be reclassified to current earnings when the hedged FHLB advances affect earnings. The Company assesses the effectiveness of each hedging relationship by comparing the changes in fair value of the derivative hedging instrument with the changes in fair value of the designated hedged transactions. The Company expects the hedges to remain effective during the remaining terms of the swaps and did not recognize any hedge ineffectiveness in current earnings during the three months ended March 31, 2018 and 2017. Interest recorded on these swap transactions reduced FHLB expense by $61,000 The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the three months ended: March 31, 2018 March 31, 2017 Amount of Gain Recognized in OCI (Effective Portion) Amount of Gain Reclassified from OCI to Income as a Decrease to Interest Expense Amount of Gain (Loss) Recognized in Other Non-Interest Income (Ineffective Portion) Amount of Gain Recognized in OCI (Effective Portion) Amount of Loss Reclassified from OCI to Income as an Increase to Interest Expense Amount of Gain (Loss) Recognized in Other Non-Interest Income (Ineffective Portion) Interest rate swaps $ 4,070 $ 61 $ — $ (83 ) $ (54 ) $ — Other interest rate swaps —The total combined notional amount was $94.1 million as of March 31, 2018 with maturities ranging from January 2020 to November 2027. The fair values of the interest rate swap agreements are reflected in other assets and other liabilities with corresponding gains or losses reflected in non-interest income. During the three months ended March 31, 2018, there were no transaction fees related to these derivative instruments. During the three months ended March 31, 2017, transaction fees were $113,000. The following table reflects other interest rate swaps as of March 31, 2018: Notional amounts $ 94,123 Derivative assets fair value 1,453 Derivative liabilities fair value 1,430 Weighted average pay rates 4.38 % Weighted average receive rates 4.02 % Weighted average maturity 6.0 years Other credit derivative— The total notional amount was $1.3 million as of March 31, 2018 with a maturity date of January 2025. The fair value of the other credit derivative is reflected in other liabilities with corresponding gains or losses reflected in non-interest income. The credit valuation adjustment (“CVA”) related to the other credit derivative resulted in an increase to other non-interest income of $23,000 during the three months ended March 31, 2018. Credit risk —Derivative instruments are inherently subject to market risk and credit risk. Market risk is associated with changes in interest rates and credit risk relates to the Company’s risk of loss when the counterparty to a derivative contract fails to perform according to the terms of the agreement. Market and credit risks are managed and monitored as part of the Company’s overall asset-liability management process. The credit risk related to derivatives entered into with certain qualified borrowers is managed through the Company’s loan underwriting process. The Company’s loan underwriting process also approves the Bank’s swap counterparty used to mirror the borrowers’ swap. The Company has a bilateral agreement with each swap counterparty that provides that fluctuations in derivative values are to be fully collateralized with either cash or securities. The CVA is a fair value adjustment to the derivative to account for this risk. During the three months ended March 31, 2018, the CVA resulted in an increase to non-interest income of $27,000. During the three months ended March 31, 2017, the CVA resulted in a decrease to non-interest income of $13,000. The Company has entered into a risk participation agreement with a counterparty bank to assume a portion of the credit risk related to borrower transactions. The credit risk related to this derivative is managed through the Company’s loan underwriting process. The Company has agreements with its derivative counterparties that contain a cross-default provision under which if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain derivative counterparties that contain a provision where if the Company fails to maintain its status as a well or adequately capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations resulted in a net asset position. The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative asset and liabilities on the Consolidated Statements of Financial Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of: March 31, 2018 December 31, 2017 Derivative Assets Fair Value Derivative Liabilities Fair Value Derivative Assets Fair Value Derivative Liabilities Fair Value Gross amounts recognized $ 10,500 $ 1,432 $ 5,981 $ 994 Less: Amounts offset in the Consolidated Statements of Financial Condition — — — — Net amount presented in the Consolidated Statements of Financial Condition $ 10,500 $ 1,432 $ 5,981 $ 994 Gross amounts not offset in the Consolidated Statements of Financial Condition Offsetting derivative positions — — (232 ) (232 ) Collateral posted (10,500 ) (1,424 ) (5,371 ) (745 ) Net credit exposure (excess collateral) $ — $ 8 $ 378 $ 17 As of March 31, 2018, the counterparties posted collateral of $11.5 million, which resulted in excess collateral with the Company. For purposes of this disclosure, the amount of posted collateral by the counterparties is limited to the amount offsetting the derivatives asset. |
Share-Based Compensation
Share-Based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Compensation | Note 18 – Share-Based Compensation In June 2017, the Company adopted the 2017 Omnibus Incentive Compensation Plan (the “Omnibus Plan”) in connection with our initial public offering (“IPO”). The Omnibus Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalent rights and other equity-based, equity-related or cash-based awards. A total of 1,550,000 shares of our common stock have been reserved and are available for issuance under the Omnibus Plan. On July 6, 2017, in conjunction with the completion of the IPO, the Company granted 58,900 restricted shares of the Company’s common stock The following table discloses the changes in restricted shares for the three months ended March 31, 2018: Omnibus Plan Number of Shares Weighted Average Grant Date Fair Value Beginning balance 70,398 $ 20.31 Granted — $ — Vested — $ — Forfeited — $ — Ending balance outstanding at March 31, 2018 70,398 $ 20.31 No restricted shares vested during the three months ended March 31, 2018. The Company recognizes share-based compensation based on the estimated fair value of the restricted stock at the grant date. Share-based compensation expense is included in non-interest expense in the Consolidated Statements of Operations. The following table summarizes restricted stock compensation expense for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Total share-based compensation - restricted stock $ 112 $ — Income tax benefit 381 — Unrecognized compensation expense 1,114 — Weighted-average amortization period remaining 2.6 years — The fair value of the unvested restricted stock awards at March 31, 2018 was $1.6 million. In April 2018, the Company granted 48,943 shares of restricted voting common stock, par value $0.01 per share. Of this total, 24,345 restricted shares will vest ratably over four years on each anniversary of the grant date, 11,165 restricted shares will vest ratably over three years on each anniversary of the grant date, and 2,268 restricted shares will vest on the first anniversary of the grand date, all subject to continued employment. In addition, 11,165 performance-based restricted shares were included in the April 2018 grant. The number of shares which may be earned under the award is dependent upon the Company’s return on average assets over a three-year period ending December 31, 2020, measured in 2018 against the Company’s internal targets and for 2019 and 2020 against a peer group consisting of publicly-traded bank holding companies ranging in asset size from 50% to 200% of the Company’s total assets. Under the award, 25% of the shares will be earned at threshold performance, 100% will be earned at target and 50th percentile performance, and up to 125% of the shares with above target and 75th percentile performance. Any earned shares will vest on the third anniversary of the grant date. The Company maintained a nonqualified, share-based, stock option plan adopted prior to recapitalization (“MBG Plan”). There were no options granted or exercised under this plan during the year ended December 31, 2017. At the time of the Company’s reincorporation in Delaware, in June 2017, the Board of Directors cancelled the MBG Plan and all the respective outstanding options were cancelled. In October 2014, the Company adopted the Byline Bancorp, Inc. Equity Incentive Plan (“BYB Plan”). The maximum number of shares available for grants under this Plan was 2,476,122 shares. During 2016 and 2015, the Company granted options to purchase 212,400 and 1,634,568 shares, respectively, under this plan. The Company did not grant any stock options during the three months ended March 31, 2018 or during the year ended December 31, 2017. In June 2017, the Board of Directors terminated the BYB Plan and no future grants can be made under this plan. Options to purchase a total of 1,696,270 shares remain outstanding under the BYB Plan at March 31, 2018. The types of stock options granted under the BYB Plan were Time Options and Performance Options. The exercise price of each option is equal to the fair value of the stock as of the date of grant. These option awards have vesting periods ranging from 1 to 5 years and have 10-year contractual terms. Stock volatility was computed as the average of the volatilities of peer group companies. The vesting of Time Options is conditional based on completion of service. Performance Options have conditional vesting based on either performance targets or market performance. Certain Performance Options’ performance goals will be satisfied (in whole or in part) if the Bank achieves various performance targets such as profitability, asset quality, and conditional based on market performance, as outlined in the BYB Plan. Each of the performance goals identified are measured for achievement (or failure to achieve) independent of each other. In October 2017, the Board of Directors determined that the Performance Option goals were satisfied, in whole, and these Performance Options converted to Time Options. As a result of the previous completion of service, 414,894 performance options vested on October 3, 2017. The fair values of the stock options were determined using the Black-Scholes-Merton model for Time Options and a Monte Carlo simulation model for Performance Options. The fair values of options under the BYB Plan were determined using the following assumptions as of the grant dates: Time Options Grants 2016 2015 Risk-free interest rate 1.34% - 1.40% 1.68% - 1.85% Expected term (years) 5.2 - 5.6 5.7 - 6.3 Expected stock price volatility 20.39 % 16.18%-16.55% Expected dividend yield 0.00 % 0.00 % Weighted average grant date fair value $ 3.55 $ 2.25 Performance Options Grants 2016 2015 Risk-free interest rate Implied forward rates Implied forward rates Expected term (years) Variable Variable Expected stock price volatility 20.34% - 20.39% 16.18%-16.55% Expected dividend yield 0.00 % 0.00 % Weighted average grant date fair value $ 3.75 $ 1.65 The following table discloses the activity in shares subject to options and the weighted average exercise prices, in actual dollars, for the three months ended March 31, 2018: BYB Plan Number of Shares Weighted Average Exercise Price Intrinsic Value Weighted Average Remaining Contractual Term (in Years) Beginning balance 1,783,020 $ 11.91 $ 19,718 7.6 Granted — Expired — Exercised (86,750 ) 11.59 $ 949 Forfeited — Ending balance outstanding at March 31, 2018 1,696,270 $ 11.93 $ 18,663 7.4 Exercisable at March 31, 2018 1,217,507 $ 11.50 $ 13,917 7.3 A total of 86,750 stock options were exercised during the three months ended March 31, 2018. During the three months ended March 31, 2018, proceeds from the exercise of stock options were $1.0 million and related tax benefit was $264,000. There were no stock options exercised during the year ended December 31, 2017. No stock options vested during the three months ended March 31, 2018. The Company recognizes share-based compensation based on the estimated fair value of the option at the grant date. Forfeitures are estimated based upon industry standards. Share-based compensation expense is included in non-interest expense in the Consolidated Statements of Operations. The following table summarizes stock option compensation expense for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Total share-based compensation - stock options $ 229 $ 286 Income tax benefit 64 113 Unrecognized compensation expense 499 1,466 Weighted-average amortization period remaining 1.1 years 1.8 years |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Note 19—Earnings per Share A reconciliation of the numerators and denominators for earnings per common share computations is presented below. Incremental shares represent outstanding stock options for which the exercise price is less than the average market price of the Company’s common stock during the periods presented. Options to purchase 1,696,270 and 1,798,320 shares of common stock were outstanding as of March 31, 2018 and 2017, respectively. There were 70,798 restricted stock awards outstanding at March 31, 2018. There were no restricted stock awards outstanding at March 31, 2017. The following represent the calculation of basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2018 2017 Net income $ 6,768 $ 6,560 Less: Dividends on preferred shares 193 189 Net income available to common stockholders $ 6,575 $ 6,371 Weighted-average common stock outstanding: Weighted-average common stock outstanding (basic) 29,291,179 24,616,706 Incremental shares 622,454 461,721 Weighted-average common stock outstanding (dilutive) 29,913,633 25,078,427 Basic earnings per common share $ 0.22 $ 0.26 Diluted earnings per common share $ 0.22 $ 0.25 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | Note 20—Stockholders’ Equity A summary of the Company’s preferred and common stock at March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, 2018 2017 Series B 7.5% fixed non-cumulative perpetual preferred stock Par value $ 0.01 $ 0.01 Shares authorized 50,000 50,000 Shares issued 10,438 10,438 Subscription receivable — — Shares outstanding 10,438 10,438 Common stock, voting Par value $ 0.01 $ 0.01 Shares authorized 150,000,000 150,000,000 Shares issued 29,404,048 29,317,298 Shares outstanding 29,404,048 29,317,298 During 2016, the Company authorized and issued Series B 7.50% fixed-to-floating non-voting, noncumulative perpetual preferred stock with a liquidation preference of $1,000 per share, plus the amount of unpaid dividends, if any, which is redeemable at the Company’s option on or after March 31, 2022. Holders of Series B preferred stock do not have any rights to convert such stock into shares of any other class of capital stock of the Company. For the three months ended March 31, 2018, the Company declared and paid dividends on the Series B preferred stock of $193,000, compared to $189,000 for the three months ended March 31, 2017. |
Consolidated Statements of Ch28
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | Note 21—Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2018 and March 31, 2017 (dollars in thousands) Unrealized Gains (Losses) on Cash Flow Hedges Unrealized (Losses) on Available-for -Sale Securities Total Accumulated Other Comprehensive Income (Loss) Balance, January 1, 2017 $ 2,233 $ (9,501 ) $ (7,268 ) Other comprehensive income (loss), net of tax (18 ) 386 368 Balance, March 31, 2017 $ 2,215 $ (9,115 ) $ (6,900 ) Balance, January 1, 2018 $ 2,913 $ (8,000 ) $ (5,087 ) Reclassification of certain income tax effects from accumulated other comprehensive income 687 (1,450 ) (763 ) Other comprehensive income (loss), net of tax 2,893 (6,457 ) (3,564 ) Balance, March 31, 2018 $ 6,493 $ (15,907 ) $ (9,414 ) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | These unaudited interim condensed consolidated financial statements include the accounts of Byline Illinois state chartered These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2018 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information in footnote disclosures normally included in financial statements prepared in accordance with GAAP has been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Consolidated Financial Statements for the years ended December 31, 2017, 2016, and 2015. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 855, “Subsequent Events,” the Company’s management has evaluated subsequent events for potential recognition or disclosure through the date of the issuance of these consolidated financial statements. No subsequent events were identified that would have required a change to the consolidated financial statements or disclosure in the notes to the consolidated financial statements. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or stockholders’ equity. During the three months ended March 31, 2018, we revised our previously issued 2017 consolidated financial statements to properly record a deferred tax liability associated with the bad debt recapture assumed from the acquisition of Ridgestone Financial Services, Inc. (“Ridgestone”) and its subsidiaries on October 14, 2016. The acquisition of Ridgestone was accounted for using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Assets acquired, liabilities assumed and consideration exchanged were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities involves significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair value adjustments associated with this transaction were finalized during the fourth quarter of 2017. We evaluated the effect of the error to our previously issued consolidated financial statements in accordance with Securities and Exchange Commission Staff Accounting Bulletin No. 99 and No. 108, and, based upon quantitative and qualitative factors, determined that the error was not material to our previously issued consolidated financial statements. Accordingly, we have reflected the change in 2017 and revised our Consolidated Statements of Financial Condition disclosed herein. Consolidated financial statements for periods not presented herein will be revised, as applicable, as they are included in future filings. All financial information presented in the accompanying notes to these consolidated financial statements was revised to reflect the change. The change did not affect net income or stockholders’ equity for the periods impacted. The following table presents the effect of the aforementioned revisions to our Consolidated Statements of Financial Condition as of December 31, 2017: December 31, 2017 (dollars in thousands) As Reported Adjustment As Revised Goodwill $ 51,975 $ 2,587 $ 54,562 Deferred tax assets, net 49,963 (2,587 ) 47,376 Total assets 3,366,130 — 3,366,130 |
Recently Issued Accounting Pronouncements | The following reflect recent accounting pronouncements that have been adopted or are pending adoption by the Company. As the Company qualifies as an emerging growth company and has elected the extended transition period for complying with new or revised accounting pronouncements, it is not subject to new or revised accounting standards applicable to public companies during the extended transition period. The accounting pronouncements pending adoption below reflect effective dates for the Company as an emerging growth company with the extended transition period. Revenue from Contracts with Customers In May 2014, FASB issued Accounting Standards Update (“ASU”) No. 2014-09, deferred by ASU No. 2015-14 and clarifying standards, Revenue from Contracts with Customers , which creates Topics 606 and 610 and supersedes Topic 605, Revenue Recognition . The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In general, the new guidance requires companies to use more judgment and make more estimates than under current guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Under the terms of ASU No. 2015-14 the standard is effective for interim and annual periods beginning after December 15, 2017. Early application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. The Company is currently evaluating the provisions of ASU No. 2014-09 to determine the potential impact the standard will have on the Company’s Consolidated Financial Statements. As a financial institution, the Company’s largest component of revenue, interest income, is excluded from the scope of this ASU. The Company is currently evaluating which, if any, of its sources of non-interest income will be impacted by this ASU. Assuming the Company remains an emerging growth company, the Company expects to adopt this new guidance on January 1, 2019, with a cumulative effect adjustment to opening retained earnings, if such adjustment is deemed to be significant. In April 2016, FASB issued ASU No. 2016-10, Identifying Performance Obligations and Licensing . The amendments in this ASU do not change the core principle of the guidance in Topic 606. Rather, the amendments in this ASU clarify the following two aspects of Topic 606: (1) identifying performance obligations and (2) licensing implementation guidance, while retaining the related principles for those areas. The amendments in this ASU affect the guidance in ASU 2014-09, discussed above, which is not yet effective. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in Topic 606, Revenues from Contracts with Customers . The Company is evaluating the provisions of this ASU in conjunction with ASU No. 2014-09 to determine the potential impact Topic 606 and its amendments will have on the Company’s Consolidated Financial Statements. In May 2016, FASB issued ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients Revenue from Contracts with Customers In November 2017, FASB issued ASU No. 2017-14, amending ASC Topic 606, Revenue from Contracts with Customers Revenue from Contracts with Customers Recognition and Measurement of Financial Assets and Financial Liabilities Recognition and Measurement of Financial Assets and Financial Liabilities In March 2018, FASB issued ASU No. 2018-03, Recognition and Measurement of Financial Assets and Financial Liabilities Leases (Topic 842) In February 2016, FASB issued ASU No. 2016-02, Leases . The amendments in this ASU require lessees to recognize the following for all leases (with the exception of short-term) at the commencement date; a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The amendments in this ASU leave lessor accounting largely unchanged, although certain targeted improvements were made to align lessor accounting with the lessee accounting model. This ASU simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is evaluating the new guidance and its impact on the Company’s Consolidated Statements of Operations and Consolidated Statements of Financial Condition. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company expects an increase in assets and liabilities as a result of recognizing additional lease contracts where the Company is a lessee. Derivatives and Hedging (Topic 815) In August 2017, FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities . The amendments in this ASU better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. The new authoritative guidance will be effective for reporting periods after January 1, 2019 with early adoption permitted. The Company is evaluating the new guidance and its impact on the Company’s Consolidated Statements of Operations and Consolidated Statements of Financial Condition. Compensation—Stock Compensation (Topic 718) In March 2016, FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting . FASB issued this ASU as part of its Simplification Initiative. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Amendments in this ASU relate to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments in this ASU require recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments in this ASU related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. The amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. This ASU became effective for the Company on January 1, 2017 and did not have a material impact on the Company’s Consolidated Financial Statements. In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting Financial Instruments—Credit Losses (Topic 326) In June 2016, FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments . Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this ASU require a financial asset (or group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The amendments in this ASU broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss, which will be more decision useful to users of the financial statements. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2021. The Company is still evaluating the effects this ASU will have on the Company’s Consolidated Financial Statements. While the Company has not quantified the impact of this ASU, it does expect changing from the current incurred loss model to an expected loss model will result in an earlier recognition of losses. Statement of Cash Flows (Topic 230) In August 2016, FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments . There is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230 and other Topics. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. Those eight issues are (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transactions, and (8) separately identifiable cash flows and application of the predominance principle. Current GAAP either is unclear or does not include specific guidance on these eight cash flow classification issues. These amendments provide guidance for each of the eight issues, thereby reducing current and potential future diversity in practice. The amendments in this ASU are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company is currently evaluating the provisions of ASU No. 2016-15 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (230), Restricted Cash Income Taxes (Topic 740) In October 2016, the FASB issued ASU No. 2016-16, Income Taxes, Intra-Entity Transfers of Assets Other Than Inventory . The ASU was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party; this update clarifies that an entity should recognize the income tax consequences of an intra-entity transfer of assets other than inventory when the transfer occurs. The amendment is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption of the update is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company does not expect this ASU to have a material impact on the Company’s Consolidated Financial Statements. Business Combinations (Topic 805) In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business . The guidance clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. This guidance is effective for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2019. The Company does not expect a material impact of this ASU on the Company’s Consolidated Financial Statements. Intangibles—Goodwill and Other (Topic 350) In January 2017, FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment . The amendments in this ASU are intended to reduce the cost and complexity of the goodwill impairment test by eliminating step two from the impairment test. The amendments modify the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. Under the amendments in this ASU, an entity will perform its annual, or interim, goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount. An impairment charge should be recognized for the amount which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments in this ASU are effective for the Company’s annual or any interim goodwill impairment test in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted these amendments in 2017, which did not have a material impact on the Company’s Consolidated Financial Statements. Other Income (Subtopic 610-20) In February 2017, the FASB issued ASU No. 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets . This ASU will clarify the scope of Subtopic 610-20 and add guidance for partial sales of nonfinancial assets. The amendments should be applied either on retrospectively to each period presented or with a modified retrospective approach. The amendment is effective for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The Company is currently evaluating the provisions of ASU No. 2017-05 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Nonrefundable Fees and Other Costs (Subtopic 310-20) In March 2017, FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs. The amendments in the ASU shorten the amortization period for certain callable debt securities held at a premium at the earliest call date. Under current GAAP, the Company amortizes the premium as an adjustment of yield over the contractual life of the instrument. As a result, upon exercise of a call on a callable debt security held at a premium, the unamortized premium is charged to earnings. The ASU shortens the amortization period for certain callable debt securities held at a premium and requires the premium to be amortized to the earliest call date. However, the amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments are effective for annual periods beginning after December 15, 2019, and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. The Company is required to apply the amendments on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company is currently evaluating the provisions of ASU No. 2017-08 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815) In July 2017, FASB issued ASU No. 2017-11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception . The ASU simplifies the accounting for certain financial instruments with down round features, a provision in an equity-linked financial instrument (or embedded feature) that provides a downward adjustment of the current exercise price based on the price of future equity offerings. Down round features are common in warrants, convertible preferred shares, and convertible debt instruments. The ASU requires companies to disregard the down round feature when assessing whether the instrument is indexed to its own stock, for purposes of determining liability or equity classification. Companies that provide earnings per share (EPS) data will adjust their basic EPS calculation for the effect of the feature when triggered (i.e., when the exercise price of the related equity-linked financial instrument is adjusted downward because of the down round feature) and will also recognize the effect of the trigger within equity. The amendments are effective for annual periods beginning after December 15, 2019, and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. Assuming the Company remains an emerging growth company, the new authoritative guidance will be effective for reporting periods after January 1, 2020. The Company is currently evaluating the provisions of ASU No. 2017‑11 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. Income Statement—Reporting Comprehensive Income (Topic 220) In February 2018, FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The ASU helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act. The ASU provides reporting entities with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The ASU requires reporting entities to disclose: a description of the accounting policy for releasing income tax effects from AOCI; whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and information about the other income tax effects that are reclassified. The amendments affect any organization that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income , and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments are effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company early adopted the new guidance on January 1, 2018. The adoption did not impact the Company’s Statements of Operations, and resulted in a reclassification of $763,000 from accumulated other comprehensive income to retained earnings. Financial Services—Depository and Lending (Topic 942) In May 2018, FASB issued ASU No. 2018-06, Codification Improvements to Topic 942, Depository and Lending — Income Taxes . The amendments in this ASU supersede the guidance within Subtopic 942-741 that has been rescinded by the OCC and no longer relevant. A cross-reference between Subtopic 740-30, Income Taxes—Other Considerations or Special Areas, and Subtopic 942-740 is being added to the remaining guidance in Subtopic 740-30 to improve the usefulness of the codification. The amendments in this Update are effective upon issuance, as no accounting requirements are affected. The amendments in this ASU do not have a material impact on the Company’s Consolidated Financial Statements. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Schedule of Aforementioned Revisions to Consolidated Statements of Financial Condition | The following table presents the effect of the aforementioned revisions to our Consolidated Statements of Financial Condition as of December 31, 2017: December 31, 2017 (dollars in thousands) As Reported Adjustment As Revised Goodwill $ 51,975 $ 2,587 $ 54,562 Deferred tax assets, net 49,963 (2,587 ) 47,376 Total assets 3,366,130 — 3,366,130 |
Acquisition of a Business (Tabl
Acquisition of a Business (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Summary of Estimates of fair Values of Assets and Liabilities Assumed as of Acquisition Date | The following table presents a summary of the estimates of fair values of assets acquired and liabilities assumed as of the acquisition date: Assets Cash and cash equivalents $ 25,480 Securities available-for-sale 27,662 Restricted stock 931 Loans held for sale 15,363 Loans 351,820 Servicing assets 20,295 Premises and equipment 2,011 Other real estate owned 1,525 Other intangible assets 486 Bank-owned life insurance 2,352 Other assets 5,641 Total assets acquired 453,566 Liabilities Deposits 361,370 Federal Home Loan Bank advances 9,773 Junior subordinated debentures 1,339 Accrued expenses and other liabilities 4,958 Total liabilities assumed 377,440 Net assets acquired $ 76,126 Consideration paid Common stock (4,199,791 shares issued at $16.25 per share) 68,247 Cash paid 36,753 Total consideration paid 105,000 Goodwill $ 28,874 |
Summary of Acquired Non-Impaired Loans as of Acquisition Date | The following table presents the acquired non-impaired loans as of the acquisition date: Fair value $ 312,166 Gross contractual amounts receivable 450,292 Estimate of contractual cash flows not expected to be collected (1) 19,661 Estimate of contractual cash flows expected to be collected 430,631 (1) Includes interest payments not expected to be collected due to loan prepayments as well as principal and interest payments not expected to be collected due to customer default. |
Summary of Pro Forma Information for Results of Operations |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost and Fair Values of Securities Available-for-sale and Held to Maturity | The following March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale U.S. Treasury Notes $ 22,934 $ 2 $ (195 ) $ 22,741 U.S. Government agencies 64,293 46 (1,718 ) 62,621 Obligations of states, municipalities, and political subdivisions 32,876 21 (749 ) 32,148 Residential mortgage-backed securities Agency 321,957 — (12,907 ) 309,050 Non-agency 55,341 — (1,067 ) 54,274 Commercial mortgage-backed securities Agency 76,866 76 (2,815 ) 74,127 Non-agency 31,688 — (1,344 ) 30,344 Corporate securities 35,257 315 (209 ) 35,363 Other securities 3,628 1,875 (114 ) 5,389 Total $ 644,840 $ 2,335 $ (21,118 ) $ 626,057 March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity Obligations of states, municipalities, and political subdivisions $ 23,982 $ 44 $ (335 ) $ 23,691 Residential mortgage-backed securities Agency 49,946 — (822 ) 49,124 Non-agency 38,338 — (734 ) 37,604 Total $ 112,266 $ 44 $ (1,891 ) $ 110,419 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale U.S. Treasury Notes $ 14,999 $ — $ (136 ) $ 14,863 U.S. Government agencies 54,248 — (1,290 ) 52,958 Obligations of states, municipalities, and political subdivisions 33,405 100 (335 ) 33,170 Residential mortgage-backed securities Agency 315,103 — (7,646 ) 307,457 Non-agency 39,485 104 (75 ) 39,514 Commercial mortgage-backed securities Agency 70,964 45 (1,966 ) 69,043 Non-agency 31,763 — (792 ) 30,971 Corporate securities 29,573 507 (104 ) 29,976 Other securities 3,627 1,730 (73 ) 5,284 Total $ 593,167 $ 2,486 $ (12,417 ) $ 583,236 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity Obligations of states, municipalities, and political subdivisions $ 24,030 $ 197 $ (82 ) $ 24,145 Residential mortgage-backed securities Agency 53,731 79 (203 ) 53,607 Non-agency 39,402 174 (51 ) 39,525 Total $ 117,163 $ 450 $ (336 ) $ 117,277 |
Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Available-for-sale and Held to Maturity | Gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2018 and December 31, 2017 are summarized as follows: Less than 12 Months 12 Months or Longer Total March 31, 2018 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-sale U.S. Treasury Notes 6 $ 9,954 $ (12 ) $ 9,817 $ (183 ) $ 19,771 $ (195 ) U.S. Government agencies 9 989 (10 ) 51,558 (1,708 ) 52,547 (1,718 ) Obligations of states, municipalities and political subdivisions 36 22,418 (475 ) 4,374 (274 ) 26,792 (749 ) Residential mortgage-backed securities Agency 43 33,601 (598 ) 275,450 (12,309 ) 309,051 (12,907 ) Non-agency 6 49,937 (885 ) 4,337 (182 ) 54,274 (1,067 ) Commercial mortgage-backed securities Agency 8 7,228 (24 ) 55,306 (2,791 ) 62,534 (2,815 ) Non-agency 5 — — 30,344 (1,344 ) 30,344 (1,344 ) Corporate securities 6 8,438 (131 ) 2,434 (78 ) 10,872 (209 ) Other securities 1 — — 1,880 (114 ) 1,880 (114 ) Total 120 $ 132,565 $ (2,135 ) $ 435,500 $ (18,983 ) $ 568,065 $ (21,118 ) Less than 12 Months 12 Months or Longer Total March 31, 2018 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Held-to-maturity Obligations of states, municipalities, and political subdivisions 24 $ 15,870 $ (286 ) $ 1,539 $ (49 ) $ 17,409 $ (335 ) Residential mortgage-backed securities Agency 20 42,065 (572 ) 7,060 (250 ) 49,125 (822 ) Non-agency 7 33,441 (591 ) 4,162 (143 ) 37,603 (734 ) Total 51 $ 91,376 $ (1,449 ) $ 12,761 $ (442 ) $ 104,137 $ (1,891 ) Less than 12 Months 12 Months or Longer Total December 31, 2017 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available-for-sale U.S. Treasury Notes 5 $ 4,998 $ (2 ) $ 9,865 $ (134 ) $ 14,863 $ (136 ) U.S. Government agencies 9 992 (7 ) 51,966 (1,283 ) 52,958 (1,290 ) Obligations of states, municipalities and political subdivisions 29 16,059 (137 ) 4,453 (198 ) 20,512 (335 ) Residential mortgage-backed securities Agency 41 15,441 (181 ) 292,016 (7,465 ) 307,457 (7,646 ) Non-agency 1 — — 4,565 (75 ) 4,565 (75 ) Commercial mortgage-backed securities Agency 7 — — 57,442 (1,966 ) 57,442 (1,966 ) Non-agency 5 — — 30,971 (792 ) 30,971 (792 ) Corporate securities 3 2,406 (80 ) 2,489 (24 ) 4,895 (104 ) Other securities 1 — — 1,921 (73 ) 1,921 (73 ) Total 101 $ 39,896 $ (407 ) $ 455,688 $ (12,010 ) $ 495,584 $ (12,417 ) Less than 12 Months 12 Months or Longer Total December 31, 2017 # of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Held-to-maturity Obligations of states, municipalities, and political subdivisions 12 $ 7,409 $ (38 ) $ 1,548 $ (44 ) $ 8,957 $ (82 ) Residential mortgage-backed securities Agency 13 24,344 (107 ) 7,935 (96 ) 32,279 (203 ) Non-agency 3 10,458 (10 ) 4,382 (41 ) 14,840 (51 ) Total 28 $ 42,211 $ (155 ) $ 13,865 $ (181 ) $ 56,076 $ (336 ) |
Summary of Proceeds From Sales of Securities Available-for-sale and Associated Gains and Losses | The proceeds three months ended March 31, 2018 For the Three Months Ended March 31, 2018 2017 Proceeds $ — $ 8 Gross gains — 8 Gross losses — — |
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | At March 31, 2018, the Amortized Cost Fair Value Available-for-sale Due in one year or less $ 5,695 $ 5,689 Due from one to five years 88,763 87,589 Due from five to ten years 47,396 46,274 Due after ten years 14,042 14,013 Mortgage-backed securities 485,852 467,795 Other securities with no defined maturity 3,092 4,697 Total $ 644,840 $ 626,057 Held-to-maturity Due from one to five years $ 3,523 $ 3,500 Due from five to ten years 11,706 11,523 Due after ten years 8,753 8,668 Mortgage-backed securities 88,284 86,728 Total $ 112,266 $ 110,419 |
Loan and Lease Receivables (Tab
Loan and Lease Receivables (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Outstanding Loan and Lease Receivables | Outstanding loan and lease receivables as of the dates shown were categorized as follows: March 31, December 31, 2018 2017 Commercial real estate $ 840,958 $ 891,971 Residential real estate 568,030 577,123 Construction, land development, and other land 117,597 105,996 Commercial and industrial 569,647 522,254 Installment and other 4,082 4,182 Lease financing receivables 177,932 174,165 Total loans and leases 2,278,246 2,275,691 Net unamortized deferred fees and costs (1,357 ) (1,720 ) Initial direct costs 3,529 3,521 Allowance for loan and lease losses (17,640 ) (16,706 ) Net loans and leases $ 2,262,778 $ 2,260,786 March 31, December 31, 2018 2017 Lease financing receivables Net minimum lease payments $ 193,146 $ 188,986 Unguaranteed residual values 1,613 1,644 Unearned income (16,827 ) (16,465 ) Total lease financing receivables 177,932 174,165 Initial direct costs 3,529 3,521 Lease financial receivables before allowance for lease losses $ 181,461 $ 177,686 |
Summary of Minimum Annual Lease Payments for Lease Financing Receivables | The minimum Minimum Lease Payments 2018 $ 51,913 2019 58,980 2020 42,897 2021 25,541 2022 12,131 Thereafter 1,684 Total $ 193,146 |
Summary of Balances for Each Respective Loan and Lease Category | The following March 31, 2018 Originated Acquired Impaired Acquired Non- Impaired Total Commercial real estate $ 485,324 $ 157,956 $ 197,589 $ 840,869 Residential real estate 397,516 139,858 30,785 568,159 Construction, land development, and other land 110,092 5,156 1,822 117,070 Commercial and industrial 470,689 8,055 89,985 568,729 Installment and other 3,645 449 36 4,130 Lease financing receivables 151,468 — 29,993 181,461 Total loans and leases $ 1,618,734 $ 311,474 $ 350,210 $ 2,280,418 December 31, 2017 Originated Acquired Impaired Acquired Non- Impaired Total Commercial real estate $ 513,622 $ 166,712 $ 211,359 $ 891,693 Residential real estate 400,571 144,562 32,085 577,218 Construction, land development, and other land 97,638 5,946 1,845 105,429 Commercial and industrial 416,499 10,008 94,731 521,238 Installment and other 3,724 462 42 4,228 Lease financing receivables 141,329 — 36,357 177,686 Total loans and leases $ 1,573,383 $ 327,690 $ 376,419 $ 2,277,492 |
Summary of Outstanding Balance and Carrying Amount of All Acquired Impaired Loans | The outstanding March 31, 2018 December 31, 2017 Outstanding Balance Carrying Value Outstanding Balance Carrying Value Commercial real estate $ 227,322 $ 157,956 $ 235,898 $ 166,712 Residential real estate 200,524 139,858 207,660 144,562 Construction, land development, and other land 13,108 5,156 13,270 5,946 Commercial and industrial 16,079 8,055 18,333 10,008 Installment and other 1,796 449 1,819 462 Total acquired impaired loans $ 458,829 $ 311,474 $ 476,980 $ 327,690 |
Summary of Changes in Accretable Yield for Acquired Impaired Loans | The following table summarizes the changes in accretable yield for acquired impaired loans for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Beginning balance $ 36,446 $ 36,868 Accretion to interest income (5,691 ) (5,684 ) Reclassification from nonaccretable difference, net 8,545 3,560 Ending balance $ 39,300 $ 34,744 |
Schedule of Unpaid Principal Balance and Carrying Value for Acquired Non-Impaired Loans and Leases | Acquired non-impaired loans and leases —The unpaid principal balance and carrying value for acquired non-impaired loans and leases at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 Unpaid Principal Balance Carrying Value Unpaid Principal Balance Carrying Value Commercial real estate $ 203,539 $ 197,589 $ 221,710 $ 211,359 Residential real estate 31,291 30,785 32,605 32,085 Construction, land development, and other land 1,881 1,822 1,926 1,845 Commercial and industrial 100,894 89,985 105,529 94,731 Installment and other 350 36 355 42 Lease financing receivables 31,227 29,993 37,476 36,357 Total acquired non-impaired loans and leases $ 369,182 $ 350,210 $ 399,601 $ 376,419 |
Allowance for Loan and Lease 34
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Summary of Allowance for Loan and Lease Losses and Corresponding Loan and Lease Balances | The following March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Allowance for loan and lease losses Three months ended Beginning balance $ 4,794 $ 1,638 $ 222 $ 7,418 $ 41 $ 2,593 $ 16,706 Provisions (releases) 934 (74 ) 397 3,424 20 414 5,115 Charge-offs (409 ) — (418 ) (3,085 ) — (510 ) (4,422 ) Recoveries — — — 6 — 235 241 Ending balance $ 5,319 $ 1,564 $ 201 $ 7,763 $ 61 $ 2,732 $ 17,640 Ending balance: Individually evaluated for impairment $ 1,572 $ 153 $ — $ 2,963 $ 14 $ — $ 4,702 Collectively evaluated for impairment 1,827 1,036 177 3,626 11 2,732 9,409 Loans acquired with deteriorated credit quality 1,920 375 24 1,174 36 — 3,529 Total allowance for loan and lease losses $ 5,319 $ 1,564 $ 201 $ 7,763 $ 61 $ 2,732 $ 17,640 March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Loans and leases ending balance: Individually evaluated for impairment $ 12,375 $ 2,029 $ — $ 12,598 $ 14 $ — $ 27,016 Collectively evaluated for impairment 670,538 426,272 111,914 548,076 3,667 181,461 1,941,928 Loans acquired with deteriorated credit quality 157,956 139,858 5,156 8,055 449 — 311,474 Total loans and leases $ 840,869 $ 568,159 $ 117,070 $ 568,729 $ 4,130 $ 181,461 $ 2,280,418 March 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Allowance for loan and lease losses Three months ended Beginning balance $ 1,945 $ 2,483 $ 742 $ 4,196 $ 334 $ 1,223 $ 10,923 Provisions (releases) 340 1 (325 ) 855 (3 ) 1,023 1,891 Charge-offs (238 ) (67 ) — (215 ) — (770 ) (1,290 ) Recoveries — — — — — 293 293 Ending balance $ 2,047 $ 2,417 $ 417 $ 4,836 $ 331 $ 1,769 $ 11,817 Ending balance: Individually evaluated for impairment $ — $ 282 $ 26 $ 966 $ 325 $ — $ 1,599 Collectively evaluated for impairment 1,622 1,470 391 3,210 5 1,769 8,467 Loans acquired with deteriorated credit quality 425 665 — 660 1 — 1,751 Total allowance for loan and lease losses $ 2,047 $ 2,417 $ 417 $ 4,836 $ 331 $ 1,769 $ 11,817 March 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Loans and leases ending balance: Individually evaluated for impairment $ 9,764 $ 1,262 $ 85 $ 3,317 $ 327 $ — $ 14,755 Collectively evaluated for impairment 611,397 430,469 99,114 432,036 2,054 162,675 1,737,745 Loans acquired with deteriorated credit quality 201,689 169,676 6,116 13,114 439 — 391,034 Total loans and leases $ 822,850 $ 601,407 $ 105,315 $ 448,467 $ 2,820 $ 162,675 $ 2,143,534 |
Summary of Recorded Investment, Unpaid Principal Balance, and Related Allowance for Loans and Leases Considered Impaired | The following and March 31, 2018 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded Commercial real estate $ 6,151 $ 7,116 $ — Residential real estate 1,682 1,653 — Commercial and industrial 6,441 7,678 — With an allowance recorded Commercial real estate 6,224 7,684 1,572 Residential real estate 347 345 153 Commercial and industrial 6,157 9,160 2,963 Installment and other 14 14 14 Total impaired loans $ 27,016 $ 33,650 $ 4,702 December 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded Commercial real estate $ 11,425 $ 12,936 $ — Residential real estate 2,075 2,046 — Commercial and industrial 5,470 6,774 — With an allowance recorded Commercial real estate 2,459 2,634 1,101 Residential real estate 354 351 158 Commercial and industrial 9,314 9,724 2,692 Installment and other 14 14 14 Total impaired loans $ 31,111 $ 34,479 $ 3,965 |
Summary of Average Recorded Investment and Interest Income Recognized for Loans and Leases Considered Impaired | The following tables summarize the average recorded investment and interest income recognized for loans and leases considered impaired, which excludes acquired impaired loans, for the periods ended as follows: March 31, 2018 Average Recorded Investment Interest Income Recognized With no related allowance recorded Commercial real estate $ 9,039 $ 103 Residential real estate 1,930 10 Commercial and industrial 7,300 62 With an allowance recorded Commercial real estate 4,122 37 Residential real estate 351 1 Commercial and industrial 6,975 102 Installment and other 14 — Total impaired loans $ 29,731 $ 315 March 31, 2017 Average Recorded Investment Interest Income Recognized With no related allowance recorded Commercial real estate $ 9,798 $ 130 Residential real estate 787 7 Commercial and industrial 1,402 60 With an allowance recorded Residential real estate 488 1 Construction, land development and other land 86 6 Commercial and industrial 1,881 3 Installment and other 328 4 Total impaired loans $ 14,770 $ 211 |
Summary of Risk Rating Categories of Loans and Leases Considered for Inclusion in Allowance for Loan and Lease Losses Calculation | The following March 31, 2018 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Pass $ 593,209 $ 393,416 $ 85,634 $ 465,449 $ 3,648 $ 178,759 $ 1,720,115 Watch 65,816 29,875 23,127 64,914 2 159 183,893 Special Mention 10,665 2,573 3,153 12,272 17 1,092 29,772 Substandard 13,223 2,437 — 18,039 14 1,162 34,875 Doubtful — — — — — 289 289 Loss — — — — — — — Total $ 682,913 $ 428,301 $ 111,914 $ 560,674 $ 3,681 $ 181,461 $ 1,968,944 December 31, 2017 Commercial Real Estate Residential Real Estate Construction, Land Development, and Other Land Commercial and Industrial Installment and Other Lease Financing Receivables Total Pass $ 638,066 $ 398,743 $ 73,935 $ 415,163 $ 3,732 $ 174,672 $ 1,704,311 Watch 58,217 29,165 22,380 67,024 20 190 176,996 Special Mention 14,645 2,251 3,168 13,535 — 1,293 34,892 Substandard 14,053 2,497 — 15,508 14 1,259 33,331 Doubtful — — — — — 272 272 Loss — — — — — — — Total $ 724,981 $ 432,656 $ 99,483 $ 511,230 $ 3,766 $ 177,686 $ 1,949,802 |
Summary of Contractual Delinquency Information | The following tables summarize contractual delinquency information for acquired non-impaired and originated loans and leases by category at March 31, 2018 and December 31, 2017: March 31, 2018 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days and Accruing Non- accrual Total Past Due Current Total Commercial real estate $ 9,266 $ — $ — $ 8,194 $ 17,460 $ 665,453 $ 682,913 Residential real estate 79 — — 1,848 1,927 426,374 428,301 Construction, land development, and other land — — — — — 111,914 111,914 Commercial and industrial 10,064 1,704 — 12,916 24,684 535,990 560,674 Installment and other 17 — — 14 31 3,650 3,681 Lease financing receivables 1,282 377 — 654 2,313 179,148 181,461 Total $ 20,708 $ 2,081 $ — $ 23,626 $ 46,415 $ 1,922,529 $ 1,968,944 December 31, 2017 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days and Accruing Non- accrual Total Past Due Current Total Commercial real estate $ 4,783 $ 968 $ — $ 8,459 $ 14,210 $ 710,771 $ 724,981 Residential real estate 148 — — 2,092 2,240 430,416 432,656 Construction, land development, and other land — — — — — 99,483 99,483 Commercial and industrial 6,667 967 — 4,348 11,982 499,248 511,230 Installment and other 18 — — 14 32 3,734 3,766 Lease financing receivables 997 638 — 851 2,486 175,200 177,686 Total $ 12,613 $ 2,573 $ — $ 15,764 $ 30,950 $ 1,918,852 $ 1,949,802 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Transfers And Servicing [Abstract] | |
Activity for Servicing Assets and Related Changes in Fair Value | Activity for the three months ended March 31, 2018 is Three Months Ended March 31, 2018 2017 Beginning balance $ 21,400 $ 21,091 Additions, net 2,102 1,422 Changes in fair value (1,887 ) (1,290 ) Ending balance $ 21,615 $ 21,223 |
Unpaid Principal Balances of Loans Serviced for Others | The unpaid as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Loan portfolios serviced for: SBA guaranteed loans 1,066,269 1,021,143 USDA guaranteed loans 93,650 91,758 Total $ 1,159,919 $ 1,112,901 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Banking And Thrift [Abstract] | |
Change in Other Real Estate Owned | The following table presents the change in other real estate owned (“OREO”) for the three months ended March 31, 2018 and 2017. Three Months Ended March 31, 2018 2017 Beginning balance $ 10,626 $ 16,570 Net additions to OREO 1,044 808 Dispositions of OREO (1,123 ) (3,929 ) Valuation adjustments (81 ) (276 ) Ending balance $ 10,466 $ 13,173 |
Goodwill, Core Deposit Intang37
Goodwill, Core Deposit Intangible and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Goodwill and Core Deposit Intangible Assets | The following table summarizes the changes in the Company’s goodwill and core deposit intangible assets for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Goodwill Core Intangible Goodwill Core Deposit Intangible Beginning balance $ 54,562 $ 16,720 $ 51,975 $ 19,776 Amortization or accretion — (761 ) — (765 ) Ending balance $ 54,562 $ 15,959 $ 51,975 $ 19,011 Accumulated amortization or accretion N/A $ 14,227 N/A $ 11,175 Weighted average remaining amortization or accretion period N/A 5.4 years N/A 6.4 Years |
Estimated Amortization Expense for Core Deposit Intangible and Other Intangible Assets Recognized | The following table presents the estimated amortization expense for core deposit intangible and other intangible assets recognized at March 31, 2018: Estimated Amortization 2018 $ 2,295 2019 3,050 2020 3,027 2021 3,017 2022 3,010 Thereafter 1,592 Total $ 15,991 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deposits [Abstract] | |
Schedule of Deposits | The composition of deposits was as follows as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Non-interest bearing demand deposits $ 749,892 $ 760,887 Interest bearing checking accounts 196,802 186,611 Money market demand accounts 382,282 349,862 Other savings 439,277 437,212 Time deposits (below $250,000) 665,541 627,255 Time deposits ($250,000 and above) 90,753 81,502 Total deposits $ 2,524,547 $ 2,443,329 |
Federal Home Loan Bank Advanc39
Federal Home Loan Bank Advances (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Federal Home Loan Banks [Abstract] | |
Summary of FHLB Advances | The following March 31, December 31, 2018 2017 Federal Home Loan Bank advances $ 380,000 $ 361,506 Weighted average cost 1.88 % 1.49 % |
Other Borrowings (Tables)
Other Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Summary of Other Borrowings | The following is a summary of the Company’s other borrowings as of March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Securities sold under agreements to repurchase $ 27,815 $ 31,187 Line of credit — — Total $ 27,815 $ 31,187 |
Summary of Short-term Credit Lines Available for Use | The following March 31, December 31, 2018 2017 Federal Reserve Bank of Chicago discount window line $ 156,077 $ 144,248 Available federal funds lines 55,000 55,000 |
Junior Subordinated Debentures
Junior Subordinated Debentures (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Junior Subordinated Debentures by Issuance | At March 31, 2018 and December 31, 2017, the Name of Trust Aggregate Principal Amount March 31, 2018 Aggregate Principal Amount December 31, 2017 Stated Maturity Contractual Rate at March 31, 2018 Interest Rate Spread Metropolitan $ 35,000 $ 35,000 March 4.97 % Three-month LIBOR + 2.79% RidgeStone Capital Trust I 1,500 1,500 June 30, 2033 5.09 % Five-year LIBOR + 3.50% Total liability, at par 36,500 36,500 Discount (8,700 ) (8,853 ) Total liability, at carrying value $ 27,800 $ 27,647 |
Commitments and Contingent Li42
Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Summary of Minimum Annual Rental Commitments for Operating Leases | The minimum Minimum Commitments 2018 $ 2,307 2019 2,600 2020 2,089 2021 1,809 2022 972 Thereafter 2,073 Total $ 11,850 |
Summary of Contract or Notional Amount of Outstanding Loan and Lease Commitments | The following March 31, 2018 and December 31, 2017 March 31, December 31, 2018 2017 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to extend credit $ 58,074 $ 510,822 $ 55,924 $ 467,429 Standby letters of credit 2,570 3,538 1,226 3,337 Total $ 60,644 $ 514,360 $ 57,150 $ 470,766 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Company's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following Fair Value Measurements Using March 31, 2018 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 22,741 $ 22,741 $ — $ — U.S. Government agencies 62,621 — 62,621 — Obligations of states, municipalities, and political subdivisions 32,148 — 31,773 375 Mortgage-backed securities; residential Agency 309,050 — 309,050 — Non-agency 54,274 — 54,274 — Mortgage-backed securities; commercial Agency 74,127 — 74,127 — Non-agency 30,344 — 30,344 — Corporate securities 35,363 — 35,363 — Other securities 5,389 1,880 2,817 692 Servicing assets 21,615 — — 21,615 Derivative assets 10,500 — 10,500 — Financial liabilities Derivative liabilities 1,432 — 1,430 2 Fair Value Measurements Using December 31, 2017 Fair Value Level 1 Level 2 Level 3 Financial assets Securities available-for-sale U.S. Treasury Notes $ 14,863 $ 14,863 $ — $ — U.S. Government agencies 52,958 — 52,958 — Obligations of states, municipalities, and political subdivisions 33,170 — 32,795 375 Mortgage-backed securities; residential Agency 307,457 — 307,457 — Non-agency 39,514 — 39,514 — Mortgage-backed securities; commercial Agency 69,043 — 69,043 — Non-agency 30,971 — 30,971 — Corporate securities 29,976 — 29,976 — Other securities 5,284 1,921 2,686 677 Servicing assets 21,400 — — 21,400 Derivative assets 5,981 — 5,981 — Financial liabilities Derivative liabilities 994 — 994 — |
Summary of Financial Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | The following table presents additional information about financial assets measured at fair value on recurring basis for which the Company used significant unobservable inputs (Level 3): Three Months Ended March 31, 2018 2017 2018 2017 Investment Securities Servicing Assets Balance, beginning of period $ 1,052 $ 1,080 $ 21,400 $ 21,091 Additions, net — — 2,102 1,422 Amortization 1 1 — — Change in unrealized loss 14 — — — Change in fair value — — (1,887 ) (1,290 ) Balance, end of period $ 1,067 $ 1,081 $ 21,615 $ 21,223 |
Summary of Unobservable Inputs Used in the Fair Value Measurements on Recurring Basis | The following Financial Instruments Valuation Technique Unobservable Inputs Range of Inputs Weighted Average Range Impact to Valuation from an Increased or Higher Input Value Obligations of states, municipalities, and political obligations Discounted Probability of default 2.2%—2.4% 2.3 % Decrease Single issuer trust preferred Discounted cash flow Probability of default 7.5%—9.9% 8.9 % Decrease Servicing assets Discounted cash flow Prepayment speeds 5.6%—16.3% 9.3 % Decrease Discount rate 10.4%—20.6% 14.2 % Decrease Expected weighted average loan life 0.8—7.9 years 5.5 years Increase |
Summary of Company's Assets Measured at Fair Value on a Non-Recurring Basis | The following tables Fair Value Measurements Using March 31, 2018 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 10,803 $ — $ — $ 10,803 Residential real estate 1,876 — — 1,876 Construction, land development, and other land — — — — Commercial and industrial 9,635 — — 9,635 Installment and other — — — — Assets held for sale 9,030 — — 9,030 Other real estate owned 10,466 — — 10,466 Fair Value Measurements Using December 31, 2017 Fair Value Level 1 Level 2 Level 3 Non-recurring Impaired loans (excluding acquired impaired loans) Commercial real estate $ 12,783 $ — $ — $ 12,783 Residential real estate 2,271 — — 2,271 Construction, land development, and other land — — — — Commercial and industrial 12,092 — — 12,092 Installment and other — — — — Assets held for sale 9,779 — — 9,779 Other real estate owned 10,626 — — 10,626 |
Summary of the Valuation Technique, Unobservable Inputs and Qualitative Information About the Company's Assets and Liabilities | The following Financial Instruments Valuation Technique Unobservable Inputs Range of Inputs Impact to Valuation from an Increased or Higher Input Value Impaired loans (excluding acquired impaired loans) Appraisals Appraisal adjustments, sales costs and other discount adjustments for market conditions 6% - 10% Decrease Assets held for sale List price, contract price Sales costs and other discount adjustments for market conditions 7% Decrease Other real estate owned Appraisals Appraisal adjustments, sales costs and other discount adjustments for market conditions 7% - 20% Decrease |
Estimated Fair Values of Financial Instruments | The estimated March 31, December 31, Fair Value 2018 2017 Hierarchy Level Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets Cash and due from banks 1 $ 17,396 $ 17,396 $ 19,404 $ 19,404 Interest bearing deposits with other banks 2 110,645 110,645 38,945 38,945 Securities held-to-maturity 2 112,266 110,419 117,163 117,277 Other restricted stock 2 17,177 17,177 16,343 16,343 Loans held for sale 3 8,219 9,122 5,212 5,851 Loans and lease receivables, net 3 2,262,778 2,230,050 2,260,786 2,240,235 Accrued interest receivable 3 6,971 6,971 7,670 7,670 Financial liabilities Non-interest bearing deposits 2 749,892 749,892 760,887 760,887 Interest bearing deposits 2 1,774,655 1,769,476 1,682,442 1,678,535 Accrued interest payable 2 1,612 1,612 1,306 1,306 Line of credit 2 — — — — Federal Home Loan Bank advances 2 380,000 380,000 361,506 361,500 Securities sold under repurchase agreement 2 27,815 27,815 31,187 31,187 Junior subordinated debentures 3 27,800 34,025 27,647 33,907 |
Derivative Instruments and He44
Derivative Instruments and Hedge Activities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition | The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Fair Value Fair Value Notional Amount Other Assets Other Liabilities Notional Amount Other Assets Other Liabilities Derivatives designated as hedging instruments Interest rate swaps designated as cash flow hedges $ 250,000 $ 9,047 $ — $ 250,000 $ 5,030 $ 38 Derivatives not designated as hedging instruments Other interest rate swaps 94,123 1,453 1,430 94,726 951 956 Other credit derivatives 1,250 — 2 — — — Total derivatives $ 345,373 $ 10,500 $ 1,432 $ 344,726 $ 5,981 $ 994 |
Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations Relating to Cash Flow Derivative Instruments | The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the three months ended: March 31, 2018 March 31, 2017 Amount of Gain Recognized in OCI (Effective Portion) Amount of Gain Reclassified from OCI to Income as a Decrease to Interest Expense Amount of Gain (Loss) Recognized in Other Non-Interest Income (Ineffective Portion) Amount of Gain Recognized in OCI (Effective Portion) Amount of Loss Reclassified from OCI to Income as an Increase to Interest Expense Amount of Gain (Loss) Recognized in Other Non-Interest Income (Ineffective Portion) Interest rate swaps $ 4,070 $ 61 $ — $ (83 ) $ (54 ) $ — |
Summary of Other Interest Rate Swaps | The following table reflects other interest rate swaps as of March 31, 2018 Notional amounts $ 94,123 Derivative assets fair value 1,453 Derivative liabilities fair value 1,430 Weighted average pay rates 4.38 % Weighted average receive rates 4.02 % Weighted average maturity 6.0 years |
Summary of Company's Interest Rate Derivative and Offsetting Positions | The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative asset and liabilities on the Consolidated Statements of Financial Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of: March 31, 2018 December 31, 2017 Derivative Assets Fair Value Derivative Liabilities Fair Value Derivative Assets Fair Value Derivative Liabilities Fair Value Gross amounts recognized $ 10,500 $ 1,432 $ 5,981 $ 994 Less: Amounts offset in the Consolidated Statements of Financial Condition — — — — Net amount presented in the Consolidated Statements of Financial Condition $ 10,500 $ 1,432 $ 5,981 $ 994 Gross amounts not offset in the Consolidated Statements of Financial Condition Offsetting derivative positions — — (232 ) (232 ) Collateral posted (10,500 ) (1,424 ) (5,371 ) (745 ) Net credit exposure (excess collateral) $ — $ 8 $ 378 $ 17 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Stock Compensation Expense | The following table summarizes stock option compensation expense for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Total share-based compensation - stock options $ 229 $ 286 Income tax benefit 64 113 Unrecognized compensation expense 499 1,466 Weighted-average amortization period remaining 1.1 years 1.8 years |
Restricted Shares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Stock Compensation Expense | The following table summarizes restricted stock compensation expense for the three months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Total share-based compensation - restricted stock $ 112 $ — Income tax benefit 381 — Unrecognized compensation expense 1,114 — Weighted-average amortization period remaining 2.6 years — |
Omnibus Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Changes in Restricted Shares | The following table discloses the changes in restricted shares for the three months ended March 31, 2018: Omnibus Plan Number of Shares Weighted Average Grant Date Fair Value Beginning balance 70,398 $ 20.31 Granted — $ — Vested — $ — Forfeited — $ — Ending balance outstanding at March 31, 2018 70,398 $ 20.31 |
BYB Plan | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Fair Value Assumptions of Stock Options | The fair values of the stock options were determined using the Black-Scholes-Merton model for Time Options and a Monte Carlo simulation model for Performance Options. The fair values of options under the BYB Plan were determined using the following assumptions as of the grant dates: Time Options Grants 2016 2015 Risk-free interest rate 1.34% - 1.40% 1.68% - 1.85% Expected term (years) 5.2 - 5.6 5.7 - 6.3 Expected stock price volatility 20.39 % 16.18%-16.55% Expected dividend yield 0.00 % 0.00 % Weighted average grant date fair value $ 3.55 $ 2.25 Performance Options Grants 2016 2015 Risk-free interest rate Implied forward rates Implied forward rates Expected term (years) Variable Variable Expected stock price volatility 20.34% - 20.39% 16.18%-16.55% Expected dividend yield 0.00 % 0.00 % Weighted average grant date fair value $ 3.75 $ 1.65 |
Summary of Activity in shares Subjected to Options and Weighted Average Exercise Prices | The following table discloses the activity in shares subject to options and the weighted average exercise prices, in actual dollars, for the three months ended March 31, 2018: BYB Plan Number of Shares Weighted Average Exercise Price Intrinsic Value Weighted Average Remaining Contractual Term (in Years) Beginning balance 1,783,020 $ 11.91 $ 19,718 7.6 Granted — Expired — Exercised (86,750 ) 11.59 $ 949 Forfeited — Ending balance outstanding at March 31, 2018 1,696,270 $ 11.93 $ 18,663 7.4 Exercisable at March 31, 2018 1,217,507 $ 11.50 $ 13,917 7.3 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Basic and Diluted Earnings per Share | The following represent the calculation of basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2018 2017 Net income $ 6,768 $ 6,560 Less: Dividends on preferred shares 193 189 Net income available to common stockholders $ 6,575 $ 6,371 Weighted-average common stock outstanding: Weighted-average common stock outstanding (basic) 29,291,179 24,616,706 Incremental shares 622,454 461,721 Weighted-average common stock outstanding (dilutive) 29,913,633 25,078,427 Basic earnings per common share $ 0.22 $ 0.26 Diluted earnings per common share $ 0.22 $ 0.25 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Summary of Preferred and Common Stock | A summary of the Company’s preferred and common stock at March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, 2018 2017 Series B 7.5% fixed non-cumulative perpetual preferred stock Par value $ 0.01 $ 0.01 Shares authorized 50,000 50,000 Shares issued 10,438 10,438 Subscription receivable — — Shares outstanding 10,438 10,438 Common stock, voting Par value $ 0.01 $ 0.01 Shares authorized 150,000,000 150,000,000 Shares issued 29,404,048 29,317,298 Shares outstanding 29,404,048 29,317,298 |
Consolidated Statements of Ch48
Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Schedule of Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) | (dollars in thousands) Unrealized Gains (Losses) on Cash Flow Hedges Unrealized (Losses) on Available-for -Sale Securities Total Accumulated Other Comprehensive Income (Loss) Balance, January 1, 2017 $ 2,233 $ (9,501 ) $ (7,268 ) Other comprehensive income (loss), net of tax (18 ) 386 368 Balance, March 31, 2017 $ 2,215 $ (9,115 ) $ (6,900 ) Balance, January 1, 2018 $ 2,913 $ (8,000 ) $ (5,087 ) Reclassification of certain income tax effects from accumulated other comprehensive income 687 (1,450 ) (763 ) Other comprehensive income (loss), net of tax 2,893 (6,457 ) (3,564 ) Balance, March 31, 2018 $ 6,493 $ (15,907 ) $ (9,414 ) |
Basis of Presentation - Schedul
Basis of Presentation - Schedule of Aforementioned Revisions to Consolidated Statements of Financial Condition (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Goodwill | $ 54,562 | $ 54,562 | $ 51,975 | $ 51,975 |
Deferred tax assets, net | 47,371 | 47,376 | ||
Total assets | $ 3,462,372 | 3,366,130 | ||
As Reported | ||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Goodwill | 51,975 | |||
Deferred tax assets, net | 49,963 | |||
Total assets | 3,366,130 | |||
Adjustment | ||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Goodwill | 2,587 | |||
Deferred tax assets, net | $ (2,587) |
Recently Issued Accounting Pr50
Recently Issued Accounting Pronouncements - Additional Information (Details) | 3 Months Ended |
Mar. 31, 2018USD ($) | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Reclassification of certain income tax effects from accumulated other comprehensive income | $ (763,000) |
ASU 2018-02 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Reclassification of certain income tax effects from accumulated other comprehensive income | $ 763,000 |
Acquisition of a Business - Add
Acquisition of a Business - Additional Information (Details) | Oct. 14, 2016USD ($)Subsidiary$ / sharesshares | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||||
Goodwill | $ 54,562,000 | $ 54,562,000 | $ 51,975,000 | $ 51,975,000 | |
Ridgestone | |||||
Business Acquisition [Line Items] | |||||
Business acquisition date of agreement | Oct. 14, 2016 | ||||
Number of operated wholly owned subsidiaries | Subsidiary | 2 | ||||
Total consideration included aggregate cash | $ 36,753,000 | ||||
Issuance of common shares | shares | 4,199,791 | ||||
Common stock issued price per share | $ / shares | $ 16.25 | ||||
Goodwill | $ 28,874,000 | ||||
Acquisition advisory expenses | 1,600,000 | ||||
Contingent assets or liabilities arising from the acquisition | $ 0 |
Acquisition of a Business - Sum
Acquisition of a Business - Summary of Estimates of fair Values of Assets and Liabilities Assumed as of Acquisition Date (Details) - USD ($) $ in Thousands | Oct. 14, 2016 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Consideration paid | |||||
Goodwill | $ 54,562 | $ 54,562 | $ 51,975 | $ 51,975 | |
Ridgestone | |||||
Assets | |||||
Cash and cash equivalents | $ 25,480 | ||||
Securities available-for-sale | 27,662 | ||||
Restricted stock | 931 | ||||
Loans held for sale | 15,363 | ||||
Loans | 351,820 | ||||
Servicing assets | 20,295 | ||||
Premises and equipment | 2,011 | ||||
Other real estate owned | 1,525 | ||||
Other intangible assets | 486 | ||||
Bank-owned life insurance | 2,352 | ||||
Other assets | 5,641 | ||||
Total assets acquired | 453,566 | ||||
Liabilities | |||||
Deposits | 361,370 | ||||
Federal Home Loan Bank advances | 9,773 | ||||
Junior subordinated debentures | 1,339 | ||||
Accrued expenses and other liabilities | 4,958 | ||||
Total liabilities assumed | 377,440 | ||||
Net assets acquired | 76,126 | ||||
Consideration paid | |||||
Common stock (4,199,791 shares issued at $16.25 per share) | 68,247 | ||||
Cash paid | 36,753 | ||||
Total consideration paid | 105,000 | ||||
Goodwill | $ 28,874 |
Acquisition of a Business - S53
Acquisition of a Business - Summary of Estimates of fair Values of Assets and Liabilities Assumed as of Acquisition Date (Parenthetical) (Details) - Ridgestone | Oct. 14, 2016$ / sharesshares |
Business Acquisition [Line Items] | |
Stock issued (in shares) | shares | 4,199,791 |
Stock issued (in dollars per share) | $ / shares | $ 16.25 |
Acquisition of a Business - S54
Acquisition of a Business - Summary of Acquired Non-Impaired Loans as of Acquisition Date (Details) $ in Thousands | Oct. 14, 2016USD ($) | |
Business Combinations [Abstract] | ||
Fair value | $ 312,166 | |
Gross contractual amounts receivable | 450,292 | |
Estimate of contractual cash flows not expected to be collected | 19,661 | [1] |
Estimate of contractual cash flows expected to be collected | $ 430,631 | |
[1] | Includes interest payments not expected to be collected due to loan prepayments as well as principal and interest payments not expected to be collected due to customer default. |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Fair Values of Securities Available-for-sale (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 644,840 | $ 593,167 |
Available-for-sale Securities, Gross Unrealized Gains | 2,335 | 2,486 |
Available-for-sale Securities, Gross Unrealized Losses | (21,118) | (12,417) |
Available-for-sale Securities, Fair Value | 626,057 | 583,236 |
U.S. Treasury Notes | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 22,934 | 14,999 |
Available-for-sale Securities, Gross Unrealized Gains | 2 | |
Available-for-sale Securities, Gross Unrealized Losses | (195) | (136) |
Available-for-sale Securities, Fair Value | 22,741 | 14,863 |
U.S. Government Agencies | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 64,293 | 54,248 |
Available-for-sale Securities, Gross Unrealized Gains | 46 | |
Available-for-sale Securities, Gross Unrealized Losses | (1,718) | (1,290) |
Available-for-sale Securities, Fair Value | 62,621 | 52,958 |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 32,876 | 33,405 |
Available-for-sale Securities, Gross Unrealized Gains | 21 | 100 |
Available-for-sale Securities, Gross Unrealized Losses | (749) | (335) |
Available-for-sale Securities, Fair Value | 32,148 | 33,170 |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 321,957 | 315,103 |
Available-for-sale Securities, Gross Unrealized Losses | (12,907) | (7,646) |
Available-for-sale Securities, Fair Value | 309,050 | 307,457 |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 55,341 | 39,485 |
Available-for-sale Securities, Gross Unrealized Gains | 104 | |
Available-for-sale Securities, Gross Unrealized Losses | (1,067) | (75) |
Available-for-sale Securities, Fair Value | 54,274 | 39,514 |
Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 76,866 | 70,964 |
Available-for-sale Securities, Gross Unrealized Gains | 76 | 45 |
Available-for-sale Securities, Gross Unrealized Losses | (2,815) | (1,966) |
Available-for-sale Securities, Fair Value | 74,127 | 69,043 |
Non-Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 31,688 | 31,763 |
Available-for-sale Securities, Gross Unrealized Losses | (1,344) | (792) |
Available-for-sale Securities, Fair Value | 30,344 | 30,971 |
Corporate Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 35,257 | 29,573 |
Available-for-sale Securities, Gross Unrealized Gains | 315 | 507 |
Available-for-sale Securities, Gross Unrealized Losses | (209) | (104) |
Available-for-sale Securities, Fair Value | 35,363 | 29,976 |
Other Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 3,628 | 3,627 |
Available-for-sale Securities, Gross Unrealized Gains | 1,875 | 1,730 |
Available-for-sale Securities, Gross Unrealized Losses | (114) | (73) |
Available-for-sale Securities, Fair Value | $ 5,389 | $ 5,284 |
Securities - Summary of Amort56
Securities - Summary of Amortized Cost and Fair Values of Securities Held-to-maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | $ 112,266 | $ 117,163 |
Held-to-maturity Securities, Gross Unrealized Gains | 44 | 450 |
Held-to-maturity Securities, Gross Unrealized Losses | (1,891) | (336) |
Securities held-to-maturity, fair value | 110,419 | 117,277 |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 23,982 | 24,030 |
Held-to-maturity Securities, Gross Unrealized Gains | 44 | 197 |
Held-to-maturity Securities, Gross Unrealized Losses | (335) | (82) |
Securities held-to-maturity, fair value | 23,691 | 24,145 |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 49,946 | 53,731 |
Held-to-maturity Securities, Gross Unrealized Gains | 79 | |
Held-to-maturity Securities, Gross Unrealized Losses | (822) | (203) |
Securities held-to-maturity, fair value | 49,124 | 53,607 |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 38,338 | 39,402 |
Held-to-maturity Securities, Gross Unrealized Gains | 174 | |
Held-to-maturity Securities, Gross Unrealized Losses | (734) | (51) |
Securities held-to-maturity, fair value | $ 37,604 | $ 39,525 |
Securities - Additional Informa
Securities - Additional Information (Details) | 3 Months Ended | ||
Mar. 31, 2018USD ($)Security | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Schedule Of Investments [Line Items] | |||
Trading securities | $ 0 | $ 0 | |
Net gains or (losses) reclassified from accumulated other comprehensive income (loss) into earnings | 0 | $ 8,000 | |
Carrying amount of securities pledged as collateral | $ 348,600,000 | $ 262,500,000 | |
Minimum | |||
Schedule Of Investments [Line Items] | |||
Percentage of shareholders equity for which securities holdings exceeds for no issuer other than U.S. Government and agencies | 10.00% | 10.00% | |
Federal Home Loan Bank Advances | |||
Schedule Of Investments [Line Items] | |||
Carrying amount of securities pledged as collateral | $ 155,500,000 | $ 128,400,000 | |
Public Fund Deposits | |||
Schedule Of Investments [Line Items] | |||
Carrying amount of securities pledged as collateral | 160,300,000 | 99,300,000 | |
Customer Repurchase Agreements | |||
Schedule Of Investments [Line Items] | |||
Carrying amount of securities pledged as collateral | $ 32,900,000 | $ 34,800,000 | |
Available-for-sale Securities | |||
Schedule Of Investments [Line Items] | |||
Investment securities with unrealized losses | Security | 120 | ||
Held-to-maturity Securities | |||
Schedule Of Investments [Line Items] | |||
Investment securities with unrealized losses | Security | 51 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Available-for-sale (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Security | Dec. 31, 2017USD ($)Security | |
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 120 | 101 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 132,565 | $ 39,896 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (2,135) | (407) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 435,500 | 455,688 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (18,983) | (12,010) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 568,065 | 495,584 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (21,118) | $ (12,417) |
U.S. Treasury Notes | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 6 | 5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 9,954 | $ 4,998 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (12) | (2) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 9,817 | 9,865 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (183) | (134) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 19,771 | 14,863 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (195) | $ (136) |
U.S. Government Agencies | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 9 | 9 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 989 | $ 992 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (10) | (7) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 51,558 | 51,966 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (1,708) | (1,283) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 52,547 | 52,958 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1,718) | $ (1,290) |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 36 | 29 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 22,418 | $ 16,059 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (475) | (137) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 4,374 | 4,453 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (274) | (198) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 26,792 | 20,512 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (749) | $ (335) |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 43 | 41 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 33,601 | $ 15,441 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (598) | (181) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 275,450 | 292,016 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (12,309) | (7,465) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 309,051 | 307,457 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (12,907) | $ (7,646) |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 6 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 49,937 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (885) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 4,337 | $ 4,565 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (182) | (75) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 54,274 | 4,565 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1,067) | $ (75) |
Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 8 | 7 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 7,228 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (24) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 55,306 | $ 57,442 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (2,791) | (1,966) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 62,534 | 57,442 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (2,815) | $ (1,966) |
Non-Agency, Commercial Mortgage-Backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 5 | 5 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | $ 30,344 | $ 30,971 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (1,344) | (792) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 30,344 | 30,971 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1,344) | $ (792) |
Corporate Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 6 | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 8,438 | $ 2,406 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (131) | (80) |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 2,434 | 2,489 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (78) | (24) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 10,872 | 4,895 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (209) | $ (104) |
Other Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 1 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | $ 1,880 | $ 1,921 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (114) | (73) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value | 1,880 | 1,921 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (114) | $ (73) |
Securities - Summary of Gross59
Securities - Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Held-to-maturity (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Security | Dec. 31, 2017USD ($)Security | |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 51 | 28 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 91,376 | $ 42,211 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (1,449) | (155) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 12,761 | 13,865 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (442) | (181) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Fair Value | 104,137 | 56,076 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (1,891) | $ (336) |
Obligations of States, Municipalities, and Political Subdivisions | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 24 | 12 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 15,870 | $ 7,409 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (286) | (38) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 1,539 | 1,548 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (49) | (44) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Fair Value | 17,409 | 8,957 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (335) | $ (82) |
Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 20 | 13 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 42,065 | $ 24,344 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (572) | (107) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 7,060 | 7,935 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (250) | (96) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Fair Value | 49,125 | 32,279 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (822) | $ (203) |
Non-Agency, Residential Mortgage-Backed Securities | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Number of Securities | Security | 7 | 3 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 33,441 | $ 10,458 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | (591) | (10) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 4,162 | 4,382 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Unrealized Losses | (143) | (41) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Fair Value | 37,603 | 14,840 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Total Unrealized Losses | $ (734) | $ (51) |
Securities - Summary of Proceed
Securities - Summary of Proceeds From Sales of Securities Available-for-sale and Associated Gains and Losses (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Available For Sale Securities Gross Realized Gain Loss [Abstract] | |
Proceeds | $ 8 |
Gross gains | $ 8 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-sale Securities Debt Maturities, Amortized Cost [Abstract] | ||
Available-for-sale Securities, Due in one year or less, Amortized Cost | $ 5,695 | |
Available-for-sale Securities, Due from one to five years, Amortized Cost | 88,763 | |
Available-for-sale Securities, Due from five to ten years, Amortized Cost | 47,396 | |
Available-for-sale Securities, Due after ten years, Amortized Cost | 14,042 | |
Available-for-sale Securities, Amortized Cost | 644,840 | $ 593,167 |
Held-to-maturity Securities Debt Maturities, Amortized Cost [Abstract] | ||
Held-to-maturity Securities, Due from one to five years, Amortized Cost | 3,523 | |
Held-to-maturity Securities, Due from five to ten years, Amortized Cost | 11,706 | |
Held-to-maturity Securities, Due after ten years, Amortized Cost | 8,753 | |
Held-to-maturity Securities, Amortized Cost | 112,266 | 117,163 |
Available-for-sale Securities Debt Maturities, Fair Value [Abstract] | ||
Available-for-sale Securities, Due in one year or less, Fair Value | 5,689 | |
Available-for-sale Securities, Due from one to five years, Fair Value | 87,589 | |
Available-for-sale Securities, Due from five to ten years, Fair Value | 46,274 | |
Available-for-sale Securities, Due after ten years, Fair Value | 14,013 | |
Total | 626,057 | 583,236 |
Held-to-maturity Securities Debt Maturities, Fair Value [Abstract] | ||
Held-to-maturity Securities, Due from one to five years, Fair Value | 3,500 | |
Held-to-maturity Securities, Due from five to ten years, Fair Value | 11,523 | |
Held-to-maturity Securities, Due after ten years, Fair Value | 8,668 | |
Total | 110,419 | 117,277 |
Mortgage-Backed Securities | ||
Available-for-sale Securities Debt Maturities, Amortized Cost [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Amortized Cost | 485,852 | |
Held-to-maturity Securities Debt Maturities, Amortized Cost [Abstract] | ||
Held-to-maturity Securities, Mortgage-backed securities, Amortized Cost | 88,284 | |
Available-for-sale Securities Debt Maturities, Fair Value [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Fair Value | 467,795 | |
Held-to-maturity Securities Debt Maturities, Fair Value [Abstract] | ||
Held-to-maturity Securities, Mortgage-backed securities, Fair Value | 86,728 | |
Other Securities With No Defined Maturity | ||
Available-for-sale Securities Debt Maturities, Amortized Cost [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Amortized Cost | 3,092 | |
Available-for-sale Securities, Amortized Cost | 3,628 | 3,627 |
Available-for-sale Securities Debt Maturities, Fair Value [Abstract] | ||
Available-for-sale Securities, Not due at single maturity, Fair Value | 4,697 | |
Total | $ 5,389 | $ 5,284 |
Loan and Lease Receivables - Sc
Loan and Lease Receivables - Schedule of Outstanding Loan and Lease Receivables (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | $ 2,278,246 | $ 2,275,691 | ||
Net unamortized deferred fees and costs | (1,357) | (1,720) | ||
Initial direct costs | 3,529 | 3,521 | ||
Allowance for loan and lease losses | (17,640) | (16,706) | $ (11,817) | $ (10,923) |
Net loans and leases | 2,262,778 | 2,260,786 | ||
Lease financing receivables | ||||
Net minimum lease payments | 193,146 | 188,986 | ||
Unguaranteed residual values | 1,613 | 1,644 | ||
Unearned income | (16,827) | (16,465) | ||
Total lease financing receivables | 177,932 | 174,165 | ||
Initial direct costs | 3,529 | 3,521 | ||
Lease financial receivables before allowance for lease losses | 181,461 | 177,686 | ||
Commercial Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 840,958 | 891,971 | ||
Allowance for loan and lease losses | (5,319) | (4,794) | (2,047) | (1,945) |
Residential Real Estate | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 568,030 | 577,123 | ||
Allowance for loan and lease losses | (1,564) | (1,638) | (2,417) | (2,483) |
Construction, Land Development, and Other Land | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 117,597 | 105,996 | ||
Allowance for loan and lease losses | (201) | (222) | (417) | (742) |
Commercial and Industrial | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 569,647 | 522,254 | ||
Allowance for loan and lease losses | (7,763) | (7,418) | (4,836) | (4,196) |
Installment and Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 4,082 | 4,182 | ||
Allowance for loan and lease losses | (61) | (41) | (331) | (334) |
Lease Financing Receivables | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 177,932 | 174,165 | ||
Allowance for loan and lease losses | $ (2,732) | $ (2,593) | $ (1,769) | $ (1,223) |
Loan and Lease Receivables - Ad
Loan and Lease Receivables - Additional Information (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | $ 2,278,246,000 | $ 2,275,691,000 | ||
Loans held for sale pledged as security for borrowings | 530,000,000 | 516,900,000 | ||
Allowance for loan and lease losses | 17,640,000 | 16,706,000 | $ 11,817,000 | $ 10,923,000 |
Acquired Impaired Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Allowance for loan and lease losses | 3,500,000 | 3,900,000 | ||
Installment and Other | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | 4,082,000 | 4,182,000 | ||
Overdraft deposits reclassified as loans | 467,000 | 617,000 | ||
Allowance for loan and lease losses | 61,000 | 41,000 | $ 331,000 | $ 334,000 |
U.S. Government Guaranteed Loans | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total loans and leases | $ 73,200,000 | $ 77,000,000 |
Loan and Lease Receivables - Su
Loan and Lease Receivables - Summary of Minimum Annual Lease Payments for Lease Financing Receivables (Details) $ in Thousands | Mar. 31, 2018USD ($) |
Receivables [Abstract] | |
2,018 | $ 51,913 |
2,019 | 58,980 |
2,020 | 42,897 |
2,021 | 25,541 |
2,022 | 12,131 |
Thereafter | 1,684 |
Total | $ 193,146 |
Loan and Lease Receivables - 65
Loan and Lease Receivables - Summary of Balances for Each Respective Loan and Lease Category (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | $ 2,280,418 | $ 2,277,492 | $ 2,143,534 |
Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,618,734 | 1,573,383 | |
Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 311,474 | 327,690 | |
Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 350,210 | 376,419 | |
Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 840,869 | 891,693 | 822,850 |
Commercial Real Estate | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 485,324 | 513,622 | |
Commercial Real Estate | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 157,956 | 166,712 | |
Commercial Real Estate | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 197,589 | 211,359 | |
Residential Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 568,159 | 577,218 | 601,407 |
Residential Real Estate | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 397,516 | 400,571 | |
Residential Real Estate | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 139,858 | 144,562 | |
Residential Real Estate | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 30,785 | 32,085 | |
Construction, Land Development, and Other Land | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 117,070 | 105,429 | 105,315 |
Construction, Land Development, and Other Land | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 110,092 | 97,638 | |
Construction, Land Development, and Other Land | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 5,156 | 5,946 | |
Construction, Land Development, and Other Land | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 1,822 | 1,845 | |
Commercial and Industrial | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 568,729 | 521,238 | 448,467 |
Commercial and Industrial | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 470,689 | 416,499 | |
Commercial and Industrial | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 8,055 | 10,008 | |
Commercial and Industrial | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 89,985 | 94,731 | |
Installment and Other | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 4,130 | 4,228 | 2,820 |
Installment and Other | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 3,645 | 3,724 | |
Installment and Other | Acquired Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 449 | 462 | |
Installment and Other | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 36 | 42 | |
Lease Financing Receivables | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 181,461 | 177,686 | $ 162,675 |
Lease Financing Receivables | Originated | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | 151,468 | 141,329 | |
Lease Financing Receivables | Acquired Non-Impaired | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Total loans and leases | $ 29,993 | $ 36,357 |
Loan and Lease Receivables - 66
Loan and Lease Receivables - Summary of Outstanding Balance and Carrying Amount of All Acquired Impaired Loans (Details) - Acquired Impaired Loans - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | $ 458,829 | $ 476,980 |
Carrying Value | 311,474 | 327,690 |
Commercial Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | 227,322 | 235,898 |
Carrying Value | 157,956 | 166,712 |
Residential Real Estate | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | 200,524 | 207,660 |
Carrying Value | 139,858 | 144,562 |
Construction, Land Development, and Other Land | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | 13,108 | 13,270 |
Carrying Value | 5,156 | 5,946 |
Commercial and Industrial | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | 16,079 | 18,333 |
Carrying Value | 8,055 | 10,008 |
Installment and Other | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Outstanding Balance | 1,796 | 1,819 |
Carrying Value | $ 449 | $ 462 |
Loan and Lease Receivables - 67
Loan and Lease Receivables - Summary of Changes in Accretable Yield for Acquired Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Receivables [Abstract] | ||
Beginning balance | $ 36,446 | $ 36,868 |
Accretion to interest income | (5,691) | (5,684) |
Reclassification from nonaccretable difference, net | 8,545 | 3,560 |
Ending balance | $ 39,300 | $ 34,744 |
Loan and Lease Receivables - 68
Loan and Lease Receivables - Schedule of Unpaid Principal Balance and Carrying Value for Acquired Non-impaired Loans and Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | $ 2,280,418 | $ 2,277,492 | $ 2,143,534 |
Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 369,182 | 399,601 | |
Loans and leases | 350,210 | 376,419 | |
Commercial Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 840,869 | 891,693 | 822,850 |
Commercial Real Estate | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 203,539 | 221,710 | |
Loans and leases | 197,589 | 211,359 | |
Residential Real Estate | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 568,159 | 577,218 | 601,407 |
Residential Real Estate | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 31,291 | 32,605 | |
Loans and leases | 30,785 | 32,085 | |
Construction, Land Development, and Other Land | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 117,070 | 105,429 | 105,315 |
Construction, Land Development, and Other Land | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 1,881 | 1,926 | |
Loans and leases | 1,822 | 1,845 | |
Commercial and Industrial | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 568,729 | 521,238 | 448,467 |
Commercial and Industrial | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 100,894 | 105,529 | |
Loans and leases | 89,985 | 94,731 | |
Installment and Other | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 4,130 | 4,228 | 2,820 |
Installment and Other | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 350 | 355 | |
Loans and leases | 36 | 42 | |
Lease Financing Receivables | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans and leases | 181,461 | 177,686 | $ 162,675 |
Lease Financing Receivables | Acquired Non-impaired Loans and Leases | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Unpaid Principal Balance | 31,227 | 37,476 | |
Loans and leases | $ 29,993 | $ 36,357 |
Allowance for Loan and Lease 69
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Allowance for Loan and Lease Losses and Corresponding Loan and Lease Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Allowance for loan and lease losses | |||||
Beginning balance | $ 16,706 | $ 10,923 | |||
Provisions (releases) | 5,115 | 1,891 | |||
Charge-offs | (4,422) | (1,290) | |||
Recoveries | 241 | 293 | |||
Ending balance | 17,640 | 11,817 | |||
Ending balance: | |||||
Individually evaluated for impairment | $ 4,702 | $ 1,599 | |||
Collectively evaluated for impairment | 9,409 | 8,467 | |||
Allowance for loan and lease losses | 17,640 | 10,923 | 17,640 | $ 16,706 | 11,817 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 27,016 | 14,755 | |||
Collectively evaluated for impairment | 1,941,928 | 1,737,745 | |||
Total loans and leases | 2,280,418 | 2,277,492 | 2,143,534 | ||
Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 3,529 | 1,751 | |||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 311,474 | 391,034 | |||
Commercial Real Estate | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 4,794 | 1,945 | |||
Provisions (releases) | 934 | 340 | |||
Charge-offs | (409) | (238) | |||
Ending balance | 5,319 | 2,047 | |||
Ending balance: | |||||
Individually evaluated for impairment | 1,572 | ||||
Collectively evaluated for impairment | 1,827 | 1,622 | |||
Allowance for loan and lease losses | 4,794 | 1,945 | 5,319 | 4,794 | 2,047 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 12,375 | 9,764 | |||
Collectively evaluated for impairment | 670,538 | 611,397 | |||
Total loans and leases | 840,869 | 891,693 | 822,850 | ||
Commercial Real Estate | Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 1,920 | 425 | |||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 157,956 | 201,689 | |||
Residential Real Estate | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 1,638 | 2,483 | |||
Provisions (releases) | (74) | 1 | |||
Charge-offs | (67) | ||||
Ending balance | 1,564 | 2,417 | |||
Ending balance: | |||||
Individually evaluated for impairment | 153 | 282 | |||
Collectively evaluated for impairment | 1,036 | 1,470 | |||
Allowance for loan and lease losses | 1,638 | 2,483 | 1,564 | 1,638 | 2,417 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 2,029 | 1,262 | |||
Collectively evaluated for impairment | 426,272 | 430,469 | |||
Total loans and leases | 568,159 | 577,218 | 601,407 | ||
Residential Real Estate | Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 375 | 665 | |||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 139,858 | 169,676 | |||
Construction, Land Development, and Other Land | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 222 | 742 | |||
Provisions (releases) | 397 | (325) | |||
Charge-offs | (418) | ||||
Ending balance | 201 | 417 | |||
Ending balance: | |||||
Individually evaluated for impairment | 26 | ||||
Collectively evaluated for impairment | 177 | 391 | |||
Allowance for loan and lease losses | 222 | 742 | 201 | 222 | 417 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 85 | ||||
Collectively evaluated for impairment | 111,914 | 99,114 | |||
Total loans and leases | 117,070 | 105,429 | 105,315 | ||
Construction, Land Development, and Other Land | Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 24 | ||||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 5,156 | 6,116 | |||
Commercial and Industrial | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 7,418 | 4,196 | |||
Provisions (releases) | 3,424 | 855 | |||
Charge-offs | (3,085) | (215) | |||
Recoveries | 6 | ||||
Ending balance | 7,763 | 4,836 | |||
Ending balance: | |||||
Individually evaluated for impairment | 2,963 | 966 | |||
Collectively evaluated for impairment | 3,626 | 3,210 | |||
Allowance for loan and lease losses | 7,418 | 4,196 | 7,763 | 7,418 | 4,836 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 12,598 | 3,317 | |||
Collectively evaluated for impairment | 548,076 | 432,036 | |||
Total loans and leases | 568,729 | 521,238 | 448,467 | ||
Commercial and Industrial | Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 1,174 | 660 | |||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 8,055 | 13,114 | |||
Installment and Other | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 41 | 334 | |||
Provisions (releases) | 20 | (3) | |||
Ending balance | 61 | 331 | |||
Ending balance: | |||||
Individually evaluated for impairment | 14 | 325 | |||
Collectively evaluated for impairment | 11 | 5 | |||
Allowance for loan and lease losses | 41 | 334 | 61 | 41 | 331 |
Loans and leases ending balance: | |||||
Individually evaluated for impairment | 14 | 327 | |||
Collectively evaluated for impairment | 3,667 | 2,054 | |||
Total loans and leases | 4,130 | 4,228 | 2,820 | ||
Installment and Other | Receivables Acquired with Deteriorated Credit Quality | |||||
Ending balance: | |||||
Loans acquired with deteriorated credit quality | 36 | 1 | |||
Loans and leases ending balance: | |||||
Loans acquired with deteriorated credit quality | 449 | 439 | |||
Lease Financing Receivables | |||||
Allowance for loan and lease losses | |||||
Beginning balance | 2,593 | 1,223 | |||
Provisions (releases) | 414 | 1,023 | |||
Charge-offs | (510) | (770) | |||
Recoveries | 235 | 293 | |||
Ending balance | 2,732 | 1,769 | |||
Ending balance: | |||||
Collectively evaluated for impairment | 2,732 | 1,769 | |||
Allowance for loan and lease losses | $ 2,593 | $ 1,223 | 2,732 | 2,593 | 1,769 |
Loans and leases ending balance: | |||||
Collectively evaluated for impairment | 181,461 | 162,675 | |||
Total loans and leases | $ 181,461 | $ 177,686 | $ 162,675 |
Allowance for Loan and Lease 70
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Additional Information (Details) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($)Loan | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Loans And Leases Receivable Disclosure [Line Items] | |||
Increase (decrease) in allowance for loan and lease losses | $ 934,000 | $ 894,000 | |
Recorded investment in troubled debt restructurings | 2,100,000 | $ 2,600,000 | |
Specific allowance allocated for loans | 215,000 | 357,000 | |
Commitments outstanding on troubled debt restructurings | 0 | 0 | |
Charge-offs or permanent reductions of recorded investments in loans | 144,000 | 487,000 | |
Recorded investment in troubled debt restructurings that subsequently defaulted within twelve months | 0 | 144,000 | |
Reserve for unfunded commitments | 1,000,000 | 923,000 | |
Provisions for unfunded commitments | 113,000 | 50,000 | |
Charge-offs or recoveries related to reserve for unfunded commitments | $ 0 | $ 0 | |
Commercial Real Estate | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Number of loans modified under troubled debt restructuring | Loan | 1 | ||
Loans modified as troubled debt restructurings | $ 125,000 | ||
Acquired Impaired Loans | |||
Loans And Leases Receivable Disclosure [Line Items] | |||
Increase (decrease) in allowance for loan and lease losses | $ (345,000) | $ 140,000 |
Allowance for Loan and Lease 71
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Recorded Investment, Unpaid Principal Balance, and Related Allowance for Loans and Leases Considered Impaired (Details) - Loans Excluding Acquired Impaired Loans - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable Impaired [Line Items] | ||
Recorded Investment | $ 27,016 | $ 31,111 |
Unpaid Principal Balance | 33,650 | 34,479 |
Related Allowance | 4,702 | 3,965 |
Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 6,151 | 11,425 |
Recorded Investment, With an allowance recorded | 6,224 | 2,459 |
Unpaid Principal Balance, With no related allowance recorded | 7,116 | 12,936 |
Unpaid Principal Balance, With an allowance recorded | 7,684 | 2,634 |
Related Allowance | 1,572 | 1,101 |
Residential Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 1,682 | 2,075 |
Recorded Investment, With an allowance recorded | 347 | 354 |
Unpaid Principal Balance, With no related allowance recorded | 1,653 | 2,046 |
Unpaid Principal Balance, With an allowance recorded | 345 | 351 |
Related Allowance | 153 | 158 |
Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With no related allowance recorded | 6,441 | 5,470 |
Recorded Investment, With an allowance recorded | 6,157 | 9,314 |
Unpaid Principal Balance, With no related allowance recorded | 7,678 | 6,774 |
Unpaid Principal Balance, With an allowance recorded | 9,160 | 9,724 |
Related Allowance | 2,963 | 2,692 |
Installment and Other | ||
Financing Receivable Impaired [Line Items] | ||
Recorded Investment, With an allowance recorded | 14 | 14 |
Unpaid Principal Balance, With an allowance recorded | 14 | 14 |
Related Allowance | $ 14 | $ 14 |
Allowance for Loan and Lease 72
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Average Recorded Investment and Interest Income Recognized for Loans and Leases Considered Impaired (Details) - Loans Excluding Acquired Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment | $ 29,731 | $ 14,770 |
Interest Income Recognized | 315 | 211 |
Commercial Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 9,039 | 9,798 |
Average Recorded Investment, With an allowance recorded | 4,122 | |
Interest Income Recognized, With no related allowance recorded | 103 | 130 |
Interest Income Recognized, With an allowance recorded | 37 | |
Residential Real Estate | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 1,930 | 787 |
Average Recorded Investment, With an allowance recorded | 351 | 488 |
Interest Income Recognized, With no related allowance recorded | 10 | 7 |
Interest Income Recognized, With an allowance recorded | 1 | 1 |
Construction, Land Development, and Other Land | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With an allowance recorded | 86 | |
Interest Income Recognized, With an allowance recorded | 6 | |
Commercial and Industrial | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With no related allowance recorded | 7,300 | 1,402 |
Average Recorded Investment, With an allowance recorded | 6,975 | 1,881 |
Interest Income Recognized, With no related allowance recorded | 62 | 60 |
Interest Income Recognized, With an allowance recorded | 102 | 3 |
Installment and Other | ||
Financing Receivable Impaired [Line Items] | ||
Average Recorded Investment, With an allowance recorded | $ 14 | 328 |
Interest Income Recognized, With an allowance recorded | $ 4 |
Allowance for Loan and Lease 73
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Risk Rating Categories of Loans and Leases Considered for Inclusion in Allowance for Loan and Lease Losses Calculation (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | $ 2,280,418 | $ 2,277,492 | $ 2,143,534 |
Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 840,869 | 891,693 | 822,850 |
Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 568,159 | 577,218 | 601,407 |
Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 117,070 | 105,429 | 105,315 |
Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 568,729 | 521,238 | 448,467 |
Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 4,130 | 4,228 | 2,820 |
Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 181,461 | 177,686 | $ 162,675 |
Loans Excluding Acquired Impaired Loans | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,968,944 | 1,949,802 | |
Loans Excluding Acquired Impaired Loans | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 682,913 | 724,981 | |
Loans Excluding Acquired Impaired Loans | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 428,301 | 432,656 | |
Loans Excluding Acquired Impaired Loans | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 111,914 | 99,483 | |
Loans Excluding Acquired Impaired Loans | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 560,674 | 511,230 | |
Loans Excluding Acquired Impaired Loans | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,681 | 3,766 | |
Loans Excluding Acquired Impaired Loans | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 181,461 | 177,686 | |
Loans Excluding Acquired Impaired Loans | Pass | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,720,115 | 1,704,311 | |
Loans Excluding Acquired Impaired Loans | Pass | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 593,209 | 638,066 | |
Loans Excluding Acquired Impaired Loans | Pass | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 393,416 | 398,743 | |
Loans Excluding Acquired Impaired Loans | Pass | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 85,634 | 73,935 | |
Loans Excluding Acquired Impaired Loans | Pass | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 465,449 | 415,163 | |
Loans Excluding Acquired Impaired Loans | Pass | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,648 | 3,732 | |
Loans Excluding Acquired Impaired Loans | Pass | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 178,759 | 174,672 | |
Loans Excluding Acquired Impaired Loans | Watch | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 183,893 | 176,996 | |
Loans Excluding Acquired Impaired Loans | Watch | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 65,816 | 58,217 | |
Loans Excluding Acquired Impaired Loans | Watch | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 29,875 | 29,165 | |
Loans Excluding Acquired Impaired Loans | Watch | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 23,127 | 22,380 | |
Loans Excluding Acquired Impaired Loans | Watch | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 64,914 | 67,024 | |
Loans Excluding Acquired Impaired Loans | Watch | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 2 | 20 | |
Loans Excluding Acquired Impaired Loans | Watch | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 159 | 190 | |
Loans Excluding Acquired Impaired Loans | Special Mention | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 29,772 | 34,892 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 10,665 | 14,645 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 2,573 | 2,251 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 3,153 | 3,168 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 12,272 | 13,535 | |
Loans Excluding Acquired Impaired Loans | Special Mention | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 17 | ||
Loans Excluding Acquired Impaired Loans | Special Mention | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,092 | 1,293 | |
Loans Excluding Acquired Impaired Loans | Substandard | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 34,875 | 33,331 | |
Loans Excluding Acquired Impaired Loans | Substandard | Commercial Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 13,223 | 14,053 | |
Loans Excluding Acquired Impaired Loans | Substandard | Residential Real Estate | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 2,437 | 2,497 | |
Loans Excluding Acquired Impaired Loans | Substandard | Commercial and Industrial | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 18,039 | 15,508 | |
Loans Excluding Acquired Impaired Loans | Substandard | Installment and Other | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 14 | 14 | |
Loans Excluding Acquired Impaired Loans | Substandard | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 1,162 | 1,259 | |
Loans Excluding Acquired Impaired Loans | Doubtful | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | 289 | 272 | |
Loans Excluding Acquired Impaired Loans | Doubtful | Lease Financing Receivables | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans and leases | $ 289 | $ 272 |
Allowance for Loan and Lease 74
Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments - Summary of Contractual Delinquency Information (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | $ 2,280,418 | $ 2,277,492 | $ 2,143,534 |
Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 840,869 | 891,693 | 822,850 |
Residential Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 568,159 | 577,218 | 601,407 |
Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 117,070 | 105,429 | 105,315 |
Commercial and Industrial | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 568,729 | 521,238 | 448,467 |
Installment and Other | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 4,130 | 4,228 | 2,820 |
Lease Financing Receivables | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total loans and leases | 181,461 | 177,686 | $ 162,675 |
Acquired Non-Impaired and Originated Loans | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 46,415 | 30,950 | |
Non-accrual | 23,626 | 15,764 | |
Current | 1,922,529 | 1,918,852 | |
Total loans and leases | 1,968,944 | 1,949,802 | |
Acquired Non-Impaired and Originated Loans | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 20,708 | 12,613 | |
Acquired Non-Impaired and Originated Loans | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,081 | 2,573 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 17,460 | 14,210 | |
Non-accrual | 8,194 | 8,459 | |
Current | 665,453 | 710,771 | |
Total loans and leases | 682,913 | 724,981 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 9,266 | 4,783 | |
Acquired Non-Impaired and Originated Loans | Commercial Real Estate | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 968 | ||
Acquired Non-Impaired and Originated Loans | Residential Real Estate | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,927 | 2,240 | |
Non-accrual | 1,848 | 2,092 | |
Current | 426,374 | 430,416 | |
Total loans and leases | 428,301 | 432,656 | |
Acquired Non-Impaired and Originated Loans | Residential Real Estate | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 79 | 148 | |
Acquired Non-Impaired and Originated Loans | Construction, Land Development, and Other Land | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Current | 111,914 | 99,483 | |
Total loans and leases | 111,914 | 99,483 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 24,684 | 11,982 | |
Non-accrual | 12,916 | 4,348 | |
Current | 535,990 | 499,248 | |
Total loans and leases | 560,674 | 511,230 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 10,064 | 6,667 | |
Acquired Non-Impaired and Originated Loans | Commercial and Industrial | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,704 | 967 | |
Acquired Non-Impaired and Originated Loans | Installment and Other | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 31 | 32 | |
Non-accrual | 14 | 14 | |
Current | 3,650 | 3,734 | |
Total loans and leases | 3,681 | 3,766 | |
Acquired Non-Impaired and Originated Loans | Installment and Other | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 17 | 18 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 2,313 | 2,486 | |
Non-accrual | 654 | 851 | |
Current | 179,148 | 175,200 | |
Total loans and leases | 181,461 | 177,686 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | 30-59 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | 1,282 | 997 | |
Acquired Non-Impaired and Originated Loans | Lease Financing Receivables | 60-89 Days Past Due | |||
Financing Receivable Recorded Investment Past Due [Line Items] | |||
Total Past Due | $ 377 | $ 638 |
Servicing Assets - Activity for
Servicing Assets - Activity for Servicing Assets and Related Changes in Fair Value (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Transfers And Servicing [Abstract] | ||
Beginning balance | $ 21,400 | $ 21,091 |
Additions, net | 2,102 | 1,422 |
Changes in fair value | (1,887) | (1,290) |
Ending balance | $ 21,615 | $ 21,223 |
Servicing Assets - Unpaid Princ
Servicing Assets - Unpaid Principal Balances of Loans Serviced for Others (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | $ 1,159,919 | $ 1,112,901 |
SBA guaranteed loans | ||
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | 1,066,269 | 1,021,143 |
USDA guaranteed loans | ||
Loan portfolios serviced for: | ||
Unpaid principal balances of loans serviced | $ 93,650 | $ 91,758 |
Servicing Assets - Additional I
Servicing Assets - Additional Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Transfers And Servicing [Abstract] | ||
Servicing fees | $ 563,000 | $ 919,000 |
Other Real Estate Owned - Chang
Other Real Estate Owned - Change in Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Banking And Thrift [Abstract] | ||
Other real estate owned, beginning balance | $ 10,626 | $ 16,570 |
Net additions to OREO | 1,044 | 808 |
Dispositions of OREO | (1,123) | (3,929) |
Valuation adjustments | (81) | (276) |
Other real estate owned, ending balance | $ 10,466 | $ 13,173 |
Other Real Estate Owned - Addit
Other Real Estate Owned - Additional Information (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Real Estate [Line Items] | ||||
Foreclosed real estate properties recorded as result of obtaining physical possession of property | $ 10,466 | $ 10,626 | $ 13,173 | $ 16,570 |
Residential consumer mortgage loans in process of foreclosure | 2,400 | 1,900 | ||
Residential Real Estate | ||||
Real Estate [Line Items] | ||||
Foreclosed real estate properties recorded as result of obtaining physical possession of property | $ 2,900 | $ 3,600 |
Goodwill, Core Deposit Intang80
Goodwill, Core Deposit Intangible and Other Intangible Assets - Summary of Changes in Goodwill and Core Deposit Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Schedule Of Goodwill And Intangible Assets [Line Items] | ||
Beginning balance, Goodwill | $ 54,562 | $ 51,975 |
Ending balance, Goodwill | 54,562 | 51,975 |
Amortization or accretion | (767) | (769) |
Core Deposits | ||
Schedule Of Goodwill And Intangible Assets [Line Items] | ||
Beginning balance | 16,720 | 19,776 |
Amortization or accretion | (761) | (765) |
Ending balance | 15,959 | 19,011 |
Accumulated amortization or accretion | $ 14,227 | $ 11,175 |
Weighted average remaining amortization or accretion period | 5 years 4 months 24 days | 6 years 4 months 24 days |
Goodwill, Core Deposit Intang81
Goodwill, Core Deposit Intangible and Other Intangible Assets - Additional Information (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Other intangible assets, net | $ 15,991,000 | $ 16,756,000 |
Trademark | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Other intangible assets, net | $ 32,000 | $ 36,000 |
Goodwill, Core Deposit Intang82
Goodwill, Core Deposit Intangible and Other Intangible Assets - Estimated Amortization Expense for Core Deposit Intangible and Other Intangible Assets Recognized (Details) $ in Thousands | Mar. 31, 2018USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2,018 | $ 2,295 |
2,019 | 3,050 |
2,020 | 3,027 |
2,021 | 3,017 |
2,022 | 3,010 |
Thereafter | 1,592 |
Total | $ 15,991 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Effective tax rate | 16.30% | 40.90% | |
Corporate federal income tax rate | 21.00% | 35.00% | |
Net income tax benefit | $ 724,000 | ||
Deferred tax assets, net | $ 47,400 | $ 47,400 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Non-interest bearing demand deposits | $ 749,892 | $ 760,887 |
Interest bearing checking accounts | 196,802 | 186,611 |
Money market demand accounts | 382,282 | 349,862 |
Other savings | 439,277 | 437,212 |
Time deposits (below $250,000) | 665,541 | 627,255 |
Time deposits ($250,000 and above) | 90,753 | 81,502 |
Total deposits | $ 2,524,547 | $ 2,443,329 |
Deposits - Additional Informati
Deposits - Additional Information (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
Brokered deposits | $ 0 | $ 0 |
Federal Home Loan Bank Advanc86
Federal Home Loan Bank Advances - Summary of FHLB Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Federal Home Loan Banks [Abstract] | ||
Federal Home Loan Bank advances | $ 380,000 | $ 361,506 |
Weighted average cost | 1.88% | 1.49% |
Federal Home Loan Bank Advanc87
Federal Home Loan Bank Advances - Additional Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Federal Home Loan Bank Advances [Line Items] | ||
Federal home loan bank, total fixed-rate advances | $ 250,000,000 | |
Federal home loan bank advances, Fixed interest rate | 2.02% | |
Federal home loan bank fixed rate advances, maturity date | 2018-06 | |
Federal home loan bank, total floating rate advances | $ 130,000,000 | |
Federal home loan bank advances, Floating interest rate | 1.62% | |
Federal home loan bank, required investment conversion ratio | 0.05 | |
Additional borrowing capacity from FHLB | $ 797,500,000 | $ 795,000,000 |
Federal home loan bank advances maximum borrowing capacity as percentage of total assets | 35.00% | |
Minimum | ||
Federal Home Loan Bank Advances [Line Items] | ||
Federal home loan bank floating rate advances, maturity date | 2018-04 | |
Maximum | ||
Federal Home Loan Bank Advances [Line Items] | ||
Federal home loan bank floating rate advances, maturity date | 2018-05 |
Other Borrowings - Summary of O
Other Borrowings - Summary of Other Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
Securities sold under agreements to repurchase | $ 27,815 | $ 31,187 |
Total | $ 27,815 | $ 31,187 |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Details) - USD ($) | Oct. 12, 2017 | Jul. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Apr. 30, 2017 | Dec. 31, 2016 | Oct. 13, 2016 |
Line Of Credit Facility [Line Items] | ||||||||
Repayment of lines of credit | $ 16,200,000 | $ 2,500,000 | ||||||
Short-term credit lines available for use, outstanding | $ 0 | $ 0 | ||||||
Ridgestone | Correspondent Bank | Credit agreement | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Line of credit facility, amount | $ 30,000,000 | |||||||
Line of credit facility, interest rate | 3.75% | 3.75% | ||||||
Line of credit facility, maturity date | Oct. 12, 2017 | |||||||
Ridgestone | Correspondent Bank | Amended Credit Agreement | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Line of credit facility, amount | $ 0 | $ 0 | ||||||
Line of credit facility, revolving credit conversion to non-revolving line of credit, description | In April 2017, the revolving line of credit was amended to a non-revolving line of credit as long as the outstanding balance exceeds $5.0 million. | |||||||
Line of credit facility, revolving credit conversion to non-revolving line of credit, threshold amount | $ 5,000,000 | |||||||
Threshold amount for conversion of line of credit into revolving line of credit | 5,000,000 | |||||||
Revolving line of credit facility, maximum borrowing capacity | $ 5,000,000 | |||||||
Line of credit facility, extended maturity date | Oct. 11, 2018 | |||||||
Line of credit facility, interest rate terms | The amended revolving line of credit bears interest at either the London Interbank Offered Rate (“LIBOR”) Rate plus 250 basis points or the Prime Rate minus 25 basis points, based on the Company’s election, which is required to be communicated at least three business days prior to the commencement of an interest period. If the Company fails to provide timely notification, the interest rate will be Prime Rate minus 25 basis points. At March 31, 2018 and December 31, 2017, the line of credit has not been drawn upon, so an interest rate option has not been selected. | |||||||
Ridgestone | Correspondent Bank | Amended Credit Agreement | LIBOR Rate | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Interest rate spread | 2.50% | |||||||
Ridgestone | Correspondent Bank | Amended Credit Agreement | Prime Rate | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Interest rate spread | 0.25% |
Other Borrowings - Summary of S
Other Borrowings - Summary of Short-term Credit Lines Available for Use (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Federal Reserve Bank of Chicago Discount Window Line | ||
Debt Instrument [Line Items] | ||
Short-term credit lines available for use | $ 156,077 | $ 144,248 |
Available Federal Funds Line | ||
Debt Instrument [Line Items] | ||
Short-term credit lines available for use | $ 55,000 | $ 55,000 |
Junior Subordinated Debenture91
Junior Subordinated Debentures - Junior Subordinated Debentures by Issuance (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | $ 36,500 | $ 36,500 |
Total liability, at carrying value | 27,800 | 27,647 |
Metropolitan Statutory Trust 1 | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | 35,000 | 35,000 |
RidgeStone Capital Trust I | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Total liability, at par | 1,500 | 1,500 |
Junior Subordinated Debentures | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Discount | $ (8,700) | $ (8,853) |
Junior Subordinated Debentures | Metropolitan Statutory Trust 1 | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Stated Maturity | Mar. 17, 2034 | |
Contractual Rate | 4.97% | 4.39% |
Junior Subordinated Debentures | Metropolitan Statutory Trust 1 | Three-month LIBOR | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Interest Rate Spread, Description | Three-month LIBOR | |
Interest Rate Spread | 2.79% | 2.79% |
Junior Subordinated Debentures | RidgeStone Capital Trust I | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Stated Maturity | Jun. 30, 2033 | |
Contractual Rate | 5.09% | 5.09% |
Junior Subordinated Debentures | RidgeStone Capital Trust I | Five-year LIBOR | ||
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items] | ||
Interest Rate Spread, Description | Five-year LIBOR | |
Interest Rate Spread | 3.50% | 3.50% |
Junior Subordinated Debenture92
Junior Subordinated Debentures - Additional Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | ||
Principal amount | $ 36,500,000 | $ 36,500,000 |
Accrued interest payable | 1,612,000 | 1,306,000 |
Metropolitan Statutory Trust 1 | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 35,000,000 | $ 35,000,000 |
Metropolitan Statutory Trust 1 | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Contractual rate | 4.97% | 4.39% |
Accrued interest payable | $ 65,000 | $ 62,000 |
Metropolitan Statutory Trust 1 | Junior Subordinated Debentures | Three-month LIBOR | ||
Debt Instrument [Line Items] | ||
Interest rate spread | 2.79% | 2.79% |
RidgeStone Capital Trust I | ||
Debt Instrument [Line Items] | ||
Principal amount | $ 1,500,000 | $ 1,500,000 |
RidgeStone Capital Trust I | Junior Subordinated Debentures | ||
Debt Instrument [Line Items] | ||
Contractual rate | 5.09% | 5.09% |
Accrued interest payable | $ 0 | $ 0 |
RidgeStone Capital Trust I | Junior Subordinated Debentures | Five-year LIBOR | ||
Debt Instrument [Line Items] | ||
Interest rate spread | 3.50% | 3.50% |
Commitments and Contingent Li93
Commitments and Contingent Liabilities - Summary of Minimum Annual Rental Commitments for Operating Leases (Details) $ in Thousands | Mar. 31, 2018USD ($) |
Commitments And Contingencies Disclosure [Abstract] | |
2,018 | $ 2,307 |
2,019 | 2,600 |
2,020 | 2,089 |
2,021 | 1,809 |
2,022 | 972 |
Thereafter | 2,073 |
Total | $ 11,850 |
Commitments and Contingent Li94
Commitments and Contingent Liabilities - Additional Information (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Commitments And Contingencies Liabilities [Line Items] | ||
Rental expenses | $ 1,200,000 | $ 1,100,000 |
Sublease income | 170,000 | $ 190,000 |
Minimum rental to be received in future on subleases | $ 1,800,000 | |
Sublease contract maturity year | 2,025 | |
Fixed rate loan commitments maturity year | 2,024 | |
Variable rate loan commitments maturity year | 2,040 | |
Maximum | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Commitments to make loans period | 90 days | |
Loan commitments fixed interest rate | 19.50% | |
Loan commitments variable interest rate | 11.75% | |
Minimum | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Loan commitments fixed interest rate | 1.00% | |
Loan commitments variable interest rate | 2.45% |
Commitments and Contingent Li95
Commitments and Contingent Liabilities - Summary of Contract or Notional Amount of Outstanding Loan and Lease Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | $ 60,644 | $ 57,150 |
Variable Rate | 514,360 | 470,766 |
Commitments to Extend Credit | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | 58,074 | 55,924 |
Variable Rate | 510,822 | 467,429 |
Standby Letters of Credit | ||
Commitments And Contingencies Liabilities [Line Items] | ||
Fixed Rate | 2,570 | 1,226 |
Variable Rate | $ 3,538 | $ 3,337 |
Fair Value Measurement - Summar
Fair Value Measurement - Summary of Financial Assets And Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | $ 626,057 | $ 583,236 | ||
Servicing assets, at fair value | 21,615 | 21,400 | $ 21,223 | $ 21,091 |
Derivative assets | 10,500 | 5,981 | ||
Derivative liabilities | 1,432 | 994 | ||
U.S. Treasury Notes | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 22,741 | 14,863 | ||
U.S. Government Agencies | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 62,621 | 52,958 | ||
Obligations of States, Municipalities, and Political Subdivisions | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 32,148 | 33,170 | ||
Corporate Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 35,363 | 29,976 | ||
Other Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 5,389 | 5,284 | ||
Fair Value, Measurements, Recurring | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Servicing assets, at fair value | 21,615 | 21,400 | ||
Derivative assets | 10,500 | 5,981 | ||
Derivative liabilities | 1,432 | 994 | ||
Fair Value, Measurements, Recurring | U.S. Treasury Notes | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 22,741 | 14,863 | ||
Fair Value, Measurements, Recurring | U.S. Government Agencies | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 62,621 | 52,958 | ||
Fair Value, Measurements, Recurring | Obligations of States, Municipalities, and Political Subdivisions | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 32,148 | 33,170 | ||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Residential | Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 309,050 | 307,457 | ||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Residential | Non-Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 54,274 | 39,514 | ||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Commercial | Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 74,127 | 69,043 | ||
Fair Value, Measurements, Recurring | Mortgage-Backed Securities; Commercial | Non-Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 30,344 | 30,971 | ||
Fair Value, Measurements, Recurring | Corporate Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 35,363 | 29,976 | ||
Fair Value, Measurements, Recurring | Other Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 5,389 | 5,284 | ||
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury Notes | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 22,741 | 14,863 | ||
Fair Value, Measurements, Recurring | Level 1 | Other Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 1,880 | 1,921 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Derivative assets | 10,500 | 5,981 | ||
Derivative liabilities | 1,430 | 994 | ||
Fair Value, Measurements, Recurring | Level 2 | U.S. Government Agencies | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 62,621 | 52,958 | ||
Fair Value, Measurements, Recurring | Level 2 | Obligations of States, Municipalities, and Political Subdivisions | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 31,773 | 32,795 | ||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Residential | Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 309,050 | 307,457 | ||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Residential | Non-Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 54,274 | 39,514 | ||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Commercial | Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 74,127 | 69,043 | ||
Fair Value, Measurements, Recurring | Level 2 | Mortgage-Backed Securities; Commercial | Non-Agency | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 30,344 | 30,971 | ||
Fair Value, Measurements, Recurring | Level 2 | Corporate Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 35,363 | 29,976 | ||
Fair Value, Measurements, Recurring | Level 2 | Other Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 2,817 | 2,686 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Servicing assets, at fair value | 21,615 | 21,400 | ||
Derivative liabilities | 2 | |||
Fair Value, Measurements, Recurring | Level 3 | Obligations of States, Municipalities, and Political Subdivisions | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | 375 | 375 | ||
Fair Value, Measurements, Recurring | Level 3 | Other Securities | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities, Fair Value | $ 692 | $ 677 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract] | ||
Fair value, assets, level 1 to level 2 transfers, amount | $ 0 | $ 0 |
Fair value, assets, level 2 to level 1 transfers, amount | 0 | 0 |
Fair value, liabilities, level 1 to level 2 transfers, amount | 0 | 0 |
Fair value, liabilities, level 2 to level 1 transfers, amount | 0 | 0 |
Fair value, equity, level 1 to level 2 transfers, amount | 0 | 0 |
Fair value, equity, level 2 to level 1 transfers, amount | $ 0 | $ 0 |
Fair Value Measurement - Summ98
Fair Value Measurement - Summary of Financial Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Investment Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Balance, beginning of period | $ 1,052 | $ 1,080 |
Amortization | 1 | 1 |
Change in unrealized loss | 14 | |
Balance, end of period | 1,067 | 1,081 |
Servicing Assets | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Balance, beginning of period | 21,400 | 21,091 |
Additions, net | 2,102 | 1,422 |
Change in fair value | (1,887) | (1,290) |
Balance, end of period | $ 21,615 | $ 21,223 |
Fair Value Measurement - Summ99
Fair Value Measurement - Summary of Unobservable Inputs Used in Fair Value Measurements on Recurring Basis Categorized Within Level 3 of Fair Value Hierarchy (Details) - Fair Value, Measurements, Recurring - Level 3 | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Discount rate | 10.40% |
Expected weighted average loan life | 9 months 18 days |
Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Discount rate | 20.60% |
Expected weighted average loan life | 7 years 10 months 24 days |
Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Discount rate | 14.20% |
Expected weighted average loan life | 5 years 6 months |
Obligations of States, Municipalities, and Political Subdivisions | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Valuation Technique | Discounted cash flow |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Obligations of States, Municipalities, and Political Subdivisions | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 2.20% |
Obligations of States, Municipalities, and Political Subdivisions | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 2.40% |
Obligations of States, Municipalities, and Political Subdivisions | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 2.30% |
Single Issuer Trust Preferred | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Valuation Technique | Discounted cash flow |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Single Issuer Trust Preferred | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 7.50% |
Single Issuer Trust Preferred | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 9.90% |
Single Issuer Trust Preferred | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Probability of default | 8.90% |
Servicing Assets | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Valuation Technique | Discounted cash flow |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Servicing Assets | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Prepayment speeds | 5.60% |
Servicing Assets | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Prepayment speeds | 16.30% |
Servicing Assets | Weighted Average | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Prepayment speeds | 9.30% |
Fair Value Measurement - Sum100
Fair Value Measurement - Summary of Assets Measured at Fair Value on Non-recurring Basis, Excluding Acquired Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Commercial Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 10,803 | $ 12,783 |
Residential Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 1,876 | 2,271 |
Commercial and Industrial | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 9,635 | 12,092 |
Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 10,466 | 10,626 |
Assets Held For Sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 9,030 | 9,779 |
Level 3 | Commercial Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 10,803 | 12,783 |
Level 3 | Residential Real Estate | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 1,876 | 2,271 |
Level 3 | Commercial and Industrial | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 9,635 | 12,092 |
Level 3 | Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | 10,466 | 10,626 |
Level 3 | Assets Held For Sale | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Assets, Fair Value | $ 9,030 | $ 9,779 |
Fair Value Measurement - Sum101
Fair Value Measurement - Summary of Valuation Technique, Unobservable Inputs and Qualitative Information of Assets and Liabilities Measured at Fair Value on Non-recurring Basis (Details) - Level 3 - Fair Value Measurements, Non-recurring | 3 Months Ended |
Mar. 31, 2018 | |
Impaired Loans | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Valuation Technique | Appraisals |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Impaired Loans | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Appraisal adjustments, sales costs and other discount adjsutments for market conditions | 6.00% |
Impaired Loans | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Appraisal adjustments, sales costs and other discount adjsutments for market conditions | 10.00% |
Asset Held For Sale | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Valuation Technique | List price, contract price |
Appraisal adjustments, sales costs and other discount adjsutments for market conditions | 7.00% |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Other Real Estate Owned | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Valuation Technique | Appraisals |
Impact to Valuation from an Increased or Higher Input Value | Decrease |
Other Real Estate Owned | Minimum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Appraisal adjustments, sales costs and other discount adjsutments for market conditions | 7.00% |
Other Real Estate Owned | Maximum | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Appraisal adjustments, sales costs and other discount adjsutments for market conditions | 20.00% |
Fair Value Measurement - Sum102
Fair Value Measurement - Summary of Estimated Fair Values of Financial Instruments and Levels Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial assets | ||
Cash and due from banks | $ 17,396 | $ 19,404 |
Interest bearing deposits with other banks | 110,645 | 38,945 |
Securities held-to-maturity, fair value | 110,419 | 117,277 |
Restricted stock, at cost | 17,177 | 16,343 |
Loans held for sale | 8,219 | 5,212 |
Loans and lease receivables, net | 2,262,778 | 2,260,786 |
Accrued interest receivable | 6,971 | 7,670 |
Financial liabilities | ||
Federal Home Loan Bank advances | 380,000 | 361,506 |
Securities sold under agreements to repurchase | 27,815 | 31,187 |
Junior subordinated debentures issued to capital trusts, net | 27,800 | 27,647 |
Level 1 | Carrying Amount | ||
Financial assets | ||
Cash and due from banks | 17,396 | 19,404 |
Level 1 | Estimated Fair Value | ||
Financial assets | ||
Cash and due from banks | 17,396 | 19,404 |
Level 2 | Carrying Amount | ||
Financial assets | ||
Interest bearing deposits with other banks | 110,645 | 38,945 |
Securities held-to-maturity, fair value | 112,266 | 117,163 |
Restricted stock, at cost | 17,177 | 16,343 |
Financial liabilities | ||
Non-interest bearing deposits | 749,892 | 760,887 |
Interest bearing deposits | 1,774,655 | 1,682,442 |
Accrued interest payable | 1,612 | 1,306 |
Federal Home Loan Bank advances | 380,000 | 361,506 |
Securities sold under agreements to repurchase | 27,815 | 31,187 |
Level 2 | Estimated Fair Value | ||
Financial assets | ||
Interest bearing deposits with other banks | 110,645 | 38,945 |
Securities held-to-maturity, fair value | 110,419 | 117,277 |
Restricted stock, at cost | 17,177 | 16,343 |
Financial liabilities | ||
Non-interest bearing deposits | 749,892 | 760,887 |
Interest bearing deposits | 1,769,476 | 1,678,535 |
Accrued interest payable | 1,612 | 1,306 |
Federal Home Loan Bank advances | 380,000 | 361,500 |
Securities sold under agreements to repurchase | 27,815 | 31,187 |
Level 3 | Carrying Amount | ||
Financial assets | ||
Loans held for sale | 8,219 | 5,212 |
Loans and lease receivables, net | 2,262,778 | 2,260,786 |
Accrued interest receivable | 6,971 | 7,670 |
Financial liabilities | ||
Junior subordinated debentures issued to capital trusts, net | 27,800 | 27,647 |
Level 3 | Estimated Fair Value | ||
Financial assets | ||
Loans held for sale | 9,122 | 5,851 |
Loans and lease receivables, net | 2,230,050 | 2,240,235 |
Accrued interest receivable | 6,971 | 7,670 |
Financial liabilities | ||
Junior subordinated debentures issued to capital trusts, net | $ 34,025 | $ 33,907 |
Derivative Instruments and H103
Derivative Instruments and Hedge Activities - Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Derivatives Fair Value [Line Items] | ||
Notional Amount | $ 345,373,000 | $ 344,726,000 |
Other Assets | 10,500,000 | 5,981,000 |
Other Liabilities | 1,432,000 | 994,000 |
Other Interest Rate Swaps | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 94,123,000 | |
Other Assets | 1,453,000 | |
Other Liabilities | 1,430,000 | |
Derivatives Designated as Hedging Instruments | Interest Rate Swaps | Cash Flow Hedges | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 250,000,000 | 250,000,000 |
Other Assets | 9,047,000 | 5,030,000 |
Other Liabilities | 38,000 | |
Derivatives Not Designated As Hedging Instruments | Other Credit Derivatives | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 1,250,000 | |
Other Liabilities | 2,000 | |
Derivatives Not Designated As Hedging Instruments | Other Interest Rate Swaps | ||
Derivatives Fair Value [Line Items] | ||
Notional Amount | 94,123,000 | 94,726,000 |
Other Assets | 1,453,000 | 951,000 |
Other Liabilities | $ 1,430,000 | $ 956,000 |
Derivative Instruments and H104
Derivative Instruments and Hedge Activities - Additional Information (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Derivative [Line Items] | |||
Derivative notional amount | $ 345,373,000 | $ 344,726,000 | |
Unrealized gain (loss) to be reclassified as an increase to interest expense during the next twelve months | 1,800,000 | ||
Credit valuation adjustment increase (decrease) to non-interest income | 27,000 | $ (13,000) | |
Full collateral posted | 11,500 | ||
Interest Rate Swaps | Interest Expense | |||
Derivative [Line Items] | |||
Increase (decrease) in FHLB expense | (61,000) | 54,000 | |
Other Interest Rate Swaps | |||
Derivative [Line Items] | |||
Derivative notional amount | $ 94,123,000 | ||
Derivative maturity date, start year | Jan. 31, 2020 | ||
Derivative maturity date, end year | Nov. 30, 2027 | ||
Derivative instruments transaction fees | $ 0 | $ 113,000 | |
Other Credit Derivative | |||
Derivative [Line Items] | |||
Derivative notional amount | $ 1,300,000 | ||
Derivative maturity date | Jan. 31, 2025 | ||
Credit valuation adjustment increase (decrease) to non-interest income | $ 23,000 | ||
Derivatives Designated as Hedging Instruments | Interest Rate Swaps | Cash Flow Hedges | |||
Derivative [Line Items] | |||
Derivative notional amount | 250,000,000 | 250,000,000 | |
Federal Home Loan Bank Advances | Derivatives Designated as Hedging Instruments | Interest Rate Swaps | Cash Flow Hedges | |||
Derivative [Line Items] | |||
Derivative notional amount | $ 250,000,000 | $ 250,000,000 |
Derivative Instruments and H105
Derivative Instruments and Hedge Activities - Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations Relating to Cash Flow Derivative Instruments (Details) - Interest Rate Swaps - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative [Line Items] | ||
Amount of Gain Recognized in OCI (Effective Portion) | $ 4,070 | $ (83) |
Amount of Gain Reclassified from OCI to Income as a Decrease to Interest Expense | $ 61 | |
Amount of Loss Reclassified from OCI to Income as an Increase to Interest Expense | $ (54) |
Derivative Instruments and H106
Derivative Instruments and Hedge Activities - Summary of Other Interest Rate Swaps (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Notional Amount | $ 345,373,000 | $ 344,726,000 |
Derivative assets fair value | 10,500,000 | 5,981,000 |
Derivative liabilities fair value | 1,432,000 | $ 994,000 |
Other Interest Rate Swaps | ||
Derivative [Line Items] | ||
Notional Amount | 94,123,000 | |
Derivative assets fair value | 1,453,000 | |
Derivative liabilities fair value | $ 1,430,000 | |
Weighted average pay rates | 4.38% | |
Weighted average receive rates | 4.02% | |
Weighted average maturity | 6 years |
Derivative Instruments and H107
Derivative Instruments and Hedge Activities - Summary of Company's Interest Rate Derivative and Offsetting Positions (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||
Gross amounts recognized | $ 10,500 | $ 5,981 |
Net amount presented in the Consolidated Statements of Financial Condition | 10,500 | 5,981 |
Gross amounts not offset in the Consolidated Statements of Financial Condition | ||
Offsetting derivative positions | (232) | |
Collateral posted | (10,500) | (5,371) |
Net credit exposure (excess collateral) | 378 | |
Gross amounts recognized | 1,432 | 994 |
Net amount presented in the Consolidated Statements of Financial Condition | 1,432 | 994 |
Gross amounts not offset in the Consolidated Statements of Financial Condition | ||
Offsetting derivative positions | (232) | |
Collateral posted | (1,424) | (745) |
Net credit exposure (excess collateral) | $ 8 | $ 17 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Details) - USD ($) | Oct. 03, 2017 | Jul. 06, 2017 | Apr. 30, 2018 | Oct. 31, 2014 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Common stock, voting par value | $ 0.01 | $ 0.01 | ||||||||
Proceeds from the exercise of stock options | $ 1,005,000 | |||||||||
Income tax benefit | 64,000 | $ 113,000 | ||||||||
Restricted Shares | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Income tax benefit | $ 381,000 | |||||||||
Performance Options Grants | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Options vested | 414,894 | |||||||||
Common Stock | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Number of options exercised | 86,750 | |||||||||
Omnibus Plan | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Number of common stock reserved and available for issuance | 1,550,000 | |||||||||
Number of common shares available for future grants | 1,479,602 | |||||||||
Omnibus Plan | Restricted Shares | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Forfeiture of restricted stock awards, shares | 400 | |||||||||
Award vesting period | 4 years | |||||||||
Restricted shares vested | 0 | |||||||||
Fair value of unvested restricted stock awards | $ 1,600,000 | |||||||||
Omnibus Plan | Performance-based Restricted Shares | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Shares of restricted voting common stock granted | 11,165 | |||||||||
Period for number of shares earned under retun on average assets | 3 years | |||||||||
Minimum target precentage in assets of peer group consisting publicly-traded bank holding companies | 50.00% | |||||||||
Maximum target precentage in assets of peer group consisting publicly-traded bank holding companies | 200.00% | |||||||||
Omnibus Plan | Performance-based Restricted Shares | Threshold performance | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Percentage of target number of shares to be earned | 25.00% | |||||||||
Omnibus Plan | Performance-based Restricted Shares | 50th Percentile Performance | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Percentage of target number of shares to be earned | 100.00% | |||||||||
Omnibus Plan | Performance-based Restricted Shares | 75th Percentile Performance | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Percentage of target number of shares to be earned | 125.00% | |||||||||
Omnibus Plan | Common Stock | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Issuance of common stock in connection with restricted stock awards, shares | 58,900 | 11,898 | ||||||||
Omnibus Plan | Common Stock | Restricted Shares | Subsequent Event | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Shares of restricted voting common stock granted | 48,943 | |||||||||
Common stock, voting par value | $ 0.01 | |||||||||
Omnibus Plan | Common Stock | Restricted Shares | Each Anniversary of Grant Date Over Four Years | Subsequent Event | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 4 years | |||||||||
Shares vest on grant date | 24,345 | |||||||||
Omnibus Plan | Common Stock | Restricted Shares | Each Anniversary of Grant Date Vest Over Three Years | Subsequent Event | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 3 years | |||||||||
Shares vest on grant date | 11,165 | |||||||||
Omnibus Plan | Common Stock | Restricted Shares | First Anniversary of Grant Date | Subsequent Event | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Shares vest on grant date | 2,268 | |||||||||
MBG Plan | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Number of options granted | 0 | |||||||||
Number of options exercised | 0 | |||||||||
BYB Plan | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Number of common shares available for future grants | 0 | |||||||||
Number of options granted | 0 | 0 | 212,400 | 1,634,568 | ||||||
Number of options exercised | 86,750 | 0 | ||||||||
Number of shares outstanding | 1,696,270 | 1,783,020 | ||||||||
Award contractual term | 7 years 4 months 24 days | 7 years 7 months 6 days | ||||||||
Options vested | 0 | |||||||||
Proceeds from the exercise of stock options | $ 1,000,000 | |||||||||
Income tax benefit | $ 264,000 | |||||||||
BYB Plan | Maximum | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Number of common shares available for future grants | 2,476,122 | |||||||||
BYB Plan | Time Options Grants | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award contractual term | 10 years | |||||||||
BYB Plan | Time Options Grants | Maximum | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 5 years | |||||||||
BYB Plan | Time Options Grants | Minimum | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 1 year | |||||||||
BYB Plan | Performance Options Grants | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award contractual term | 10 years | |||||||||
BYB Plan | Performance Options Grants | Maximum | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 5 years | |||||||||
BYB Plan | Performance Options Grants | Minimum | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||||||||
Award vesting period | 1 year |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Changes in Restricted Shares (Details) - Omnibus Plan - Restricted Shares | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of shares, beginning balance | 70,398,000 |
Number of shares, vested | 0 |
Number of shares, ending balance | 70,398,000 |
Weighted average grant date fair value, beginning balance | $ / shares | $ 20.31 |
Weighted average grant date fair value, ending balance | $ / shares | $ 20.31 |
Share-Based Compensation - S110
Share-Based Compensation - Summary of Stock Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Total share-based compensation - restricted stock | $ 229 | $ 286 |
Income tax benefit | 64 | 113 |
Unrecognized compensation expense | $ 499 | $ 1,466 |
Weighted-average amortization period remaining | 1 year 1 month 6 days | 1 year 9 months 18 days |
Restricted Shares | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||
Total share-based compensation - restricted stock | $ 112 | |
Income tax benefit | 381 | |
Unrecognized compensation expense | $ 1,114 | |
Weighted-average amortization period remaining | 2 years 7 months 6 days |
Share-Based Compensation - Fair
Share-Based Compensation - Fair Value Assumptions of Stock Options (Details) - BYB Plan - $ / shares | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2016 | Mar. 31, 2015 | |
Time Options Grants | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Risk-free interest rate, minimum | 1.34% | 1.68% | |
Risk-free interest rate, maximum | 1.40% | 1.85% | |
Expected stock price volatility | 20.39% | ||
Expected stock price volatility, minimum | 16.18% | ||
Expected stock price volatility, maximum | 16.55% | ||
Expected dividend yield | 0.00% | 0.00% | |
Weighted average grant date fair value | $ 3.55 | $ 2.25 | |
Time Options Grants | Minimum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (years) | 5 years 2 months 12 days | 5 years 8 months 12 days | |
Time Options Grants | Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (years) | 5 years 7 months 6 days | 6 years 3 months 18 days | |
Performance Options Grants | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Risk-free interest rate | Implied forward rates | Implied forward rates | |
Expected term (years) | Variable | Variable | |
Expected stock price volatility, minimum | 20.34% | 16.18% | |
Expected stock price volatility, maximum | 20.39% | 16.55% | |
Expected dividend yield | 0.00% | 0.00% | |
Weighted average grant date fair value | $ 3.75 | $ 1.65 |
Share-Based Compensation - S112
Share-Based Compensation - Summary Activity in shares Subjected to Options and Weighted Average Exercise Prices (Details) - BYB Plan - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Number of Shares, Beginning balance | 1,783,020 | |||
Number of Shares, Granted | 0 | 0 | 212,400 | 1,634,568 |
Number of Shares, Exercised | (86,750) | 0 | ||
Number of Shares, Ending balance | 1,696,270 | 1,783,020 | ||
Number of Shares, Exercisable | 1,217,507 | |||
Weighted Average Exercise Price, Beginning balance | $ 11.91 | |||
Weighted Average Exercise Price, Exercised | 11.59 | |||
Weighted Average Exercise Price, Ending balance | 11.93 | $ 11.91 | ||
Weighted Average Exercise Price, Exercisable | $ 11.50 | |||
Intrinsic Value, Beginning balance | $ 19,718 | |||
Intrinsic Value, Exercised | 949 | |||
Intrinsic Value, Ending balance | 18,663 | $ 19,718 | ||
Intrinsic Value, Exercisable | $ 13,917 | |||
Weighted Average Remaining Contractual Term (in Years) | 7 years 4 months 24 days | 7 years 7 months 6 days | ||
Weighted Average Remaining Contractual Term (in Years), Exercisable | 7 years 3 months 18 days |
Earnings per Share - Additional
Earnings per Share - Additional Information (Details) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share Basic [Line Items] | ||
Shares outstanding | 29,291,179 | 24,616,706 |
Stock Options | ||
Earnings Per Share Basic [Line Items] | ||
Shares outstanding | 1,696,270 | 1,798,320 |
Restricted Stock Award | ||
Earnings Per Share Basic [Line Items] | ||
Shares outstanding | 70,798 | 0 |
Earnings per Share - Schedule o
Earnings per Share - Schedule of Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Net income | $ 6,768 | $ 6,560 |
Dividends on preferred shares | 193 | 189 |
Net income available to common stockholders | $ 6,575 | $ 6,371 |
Weighted-average common stock outstanding: | ||
Weighted-average common stock outstanding (basic) | 29,291,179 | 24,616,706 |
Incremental shares | 622,454 | 461,721 |
Weighted-average common stock outstanding (dilutive) | 29,913,633 | 25,078,427 |
Basic earnings per common share | $ 0.22 | $ 0.26 |
Diluted earnings per common share | $ 0.22 | $ 0.25 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Preferred and Common Stock (Details) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Class Of Stock [Line Items] | ||
Common stock, voting par value | $ 0.01 | $ 0.01 |
Common stock, voting shares authorized | 150,000,000 | 150,000,000 |
Common stock, voting shares issued | 29,404,048 | 29,317,298 |
Common stock, voting shares outstanding | 29,404,048 | 29,317,298 |
Series B 7.5% Fixed Non-Cumulative Perpetual Preferred Stock | ||
Class Of Stock [Line Items] | ||
Par value | $ 0.01 | $ 0.01 |
Shares authorized | 50,000 | 50,000 |
Shares issued | 10,438 | 10,438 |
Shares outstanding | 10,438 | 10,438 |
Stockholders' Equity - Summa116
Stockholders' Equity - Summary of Preferred and Common Stock (Parenthetical) (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Series B 7.5% Fixed Non-Cumulative Perpetual Preferred Stock | ||
Class Of Stock [Line Items] | ||
Preferred stock, dividend rate, percentage | 7.50% | 7.50% |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2016 | |
Class Of Stock [Line Items] | |||
Dividends declared and paid | $ 193,000 | $ 189,000 | |
Series B Preferred Stock | |||
Class Of Stock [Line Items] | |||
Preferred stock, dividend rate, percentage | 7.50% | ||
Preferred stock, liquidation preference per share | $ 1,000 | ||
Dividends declared and paid | $ 193,000 | $ 189,000 |
Consolidated Statements of C118
Consolidated Statements of Change in Accumulated Other Comprehensive Income (Loss) - Schedule of Consolidated Statements of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | $ 458,578 | $ 382,658 |
Reclassification of certain income tax effects from accumulated other comprehensive income | (763) | |
Other comprehensive income (loss), net of tax | (3,564) | 368 |
Ending balance | 462,936 | 389,683 |
Unrealized Gains (Losses) on Cash Flow Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | 2,913 | 2,233 |
Reclassification of certain income tax effects from accumulated other comprehensive income | 687 | |
Other comprehensive income (loss), net of tax | 2,893 | (18) |
Ending balance | 6,493 | 2,215 |
Unrealized Gains (Losses) on Available-for-Sale Securities | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | (8,000) | (9,501) |
Reclassification of certain income tax effects from accumulated other comprehensive income | (1,450) | |
Other comprehensive income (loss), net of tax | (6,457) | 386 |
Ending balance | (15,907) | (9,115) |
Accumulated Other Comprehensive Income (Loss) | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | (5,087) | (7,268) |
Reclassification of certain income tax effects from accumulated other comprehensive income | (763) | |
Other comprehensive income (loss), net of tax | (3,564) | 368 |
Ending balance | $ (9,414) | $ (6,900) |