Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 27, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'WSBC | ' |
Entity Registrant Name | 'WESBANCO INC | ' |
Entity Central Index Key | '0000203596 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 29,283,675 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks, including interest bearing amounts of $2,704 and $15,550, respectively | $76,419 | $95,551 |
Securities: | ' | ' |
Available-for-sale, at fair value | 959,553 | 934,386 |
Held-to-maturity (fair values of $617,332 and $596,308, respectively) | 594,860 | 598,520 |
Total securities | 1,554,413 | 1,532,906 |
Loans held for sale | 6,260 | 5,855 |
Portfolio loans, net of unearned income | 4,031,704 | 3,894,917 |
Allowance for loan losses | -45,029 | -47,368 |
Net portfolio loans | 3,986,675 | 3,847,549 |
Premises and equipment, net | 92,090 | 93,157 |
Accrued interest receivable | 20,032 | 18,960 |
Goodwill and other intangible assets, net | 319,973 | 321,426 |
Bank-owned life insurance | 122,678 | 121,390 |
Other assets | 99,954 | 107,979 |
Total Assets | 6,278,494 | 6,144,773 |
Deposits: | ' | ' |
Non-interest bearing demand | 1,027,636 | 960,814 |
Interest bearing demand | 897,827 | 857,761 |
Money market | 993,211 | 942,768 |
Savings deposits | 824,703 | 789,709 |
Certificates of deposit | 1,358,308 | 1,511,478 |
Total deposits | 5,101,685 | 5,062,530 |
Federal Home Loan Bank borrowings | 123,374 | 39,508 |
Other short-term borrowings | 117,637 | 150,536 |
Junior subordinated debt owed to unconsolidated subsidiary trusts | 106,166 | 106,137 |
Total borrowings | 347,177 | 296,181 |
Accrued interest payable | 2,103 | 2,354 |
Other liabilities | 38,745 | 37,113 |
Total Liabilities | 5,489,710 | 5,398,178 |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock, no par value; 1,000,000 shares authorized; none outstanding | ' | ' |
Common stock, $2.0833 par value; 50,000,000 shares authorized; 29,367,511 issued in 2014 and 2013, respectively; outstanding: 29,283,675 and 29,175,236 shares in 2014 and 2013, respectively | 61,182 | 61,182 |
Capital surplus | 244,358 | 244,974 |
Retained earnings | 494,511 | 460,351 |
Treasury stock (83,836 and 192,275 shares in 2014 and 2013, respectively, at cost) | -2,601 | -5,969 |
Accumulated other comprehensive loss | -7,423 | -12,734 |
Deferred benefits for directors | -1,243 | -1,209 |
Total Shareholders' Equity | 788,784 | 746,595 |
Total Liabilities and Shareholders' Equity | $6,278,494 | $6,144,773 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Interest bearing deposits, banks | $2,704 | $15,550 |
Held-to-maturity securities, fair values | $617,332 | $596,308 |
Preferred stock, no par value | $0 | $0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $2.08 | $2.08 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 29,367,511 | 29,367,511 |
Common stock, shares outstanding | 29,283,675 | 29,175,236 |
Treasury stock, shares | 83,836 | 192,275 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST AND DIVIDEND INCOME | ' | ' | ' | ' |
Loans, including fees | $43,399 | $43,678 | $128,691 | $131,706 |
Interest and dividends on securities: | ' | ' | ' | ' |
Taxable | 7,375 | 7,226 | 22,051 | 22,015 |
Tax-exempt | 3,413 | 3,355 | 10,234 | 9,748 |
Total interest and dividends on securities | 10,788 | 10,581 | 32,285 | 31,763 |
Other interest income | 116 | 58 | 829 | 165 |
Total interest and dividend income | 54,303 | 54,317 | 161,805 | 163,634 |
INTEREST EXPENSE | ' | ' | ' | ' |
Interest bearing demand deposits | 399 | 369 | 1,168 | 1,035 |
Money market deposits | 487 | 345 | 1,394 | 1,023 |
Savings deposits | 135 | 128 | 398 | 395 |
Certificates of deposit | 3,254 | 5,597 | 10,305 | 17,626 |
Total interest expense on deposits | 4,275 | 6,439 | 13,265 | 20,079 |
Federal Home Loan Bank borrowings | 264 | 291 | 650 | 900 |
Other short-term borrowings | 348 | 651 | 1,255 | 1,900 |
Junior subordinated debt owed to unconsolidated subsidiary trusts | 805 | 805 | 2,392 | 2,506 |
Total interest expense | 5,692 | 8,186 | 17,562 | 25,385 |
NET INTEREST INCOME | 48,611 | 46,131 | 144,243 | 138,249 |
Provision for credit losses | 1,478 | 2,819 | 4,526 | 5,942 |
Net interest income after provision for credit losses | 47,133 | 43,312 | 139,717 | 132,307 |
NON-INTEREST INCOME | ' | ' | ' | ' |
Trust fees | 5,096 | 4,854 | 15,954 | 14,694 |
Service charges on deposits | 4,170 | 4,650 | 12,107 | 13,309 |
Electronic banking fees | 3,268 | 3,124 | 9,549 | 9,186 |
Net securities brokerage revenue | 1,701 | 1,506 | 5,533 | 4,644 |
Bank-owned life insurance | 882 | 911 | 3,577 | 3,739 |
Net gains on sales of mortgage loans | 550 | 745 | 1,178 | 2,157 |
Net securities gains / (losses) | 581 | -15 | 756 | 687 |
Net (loss) / gain on other real estate owned and other assets/liabilities | -1,167 | 8 | -1,218 | 63 |
Other income | 1,573 | 1,333 | 4,508 | 3,857 |
Total non-interest income | 16,654 | 17,116 | 51,944 | 52,336 |
NON-INTEREST EXPENSE | ' | ' | ' | ' |
Salaries and wages | 17,331 | 16,480 | 50,700 | 48,079 |
Employee benefits | 5,051 | 5,323 | 16,289 | 17,481 |
Net occupancy | 2,916 | 2,921 | 9,265 | 8,943 |
Equipment | 2,837 | 2,692 | 8,534 | 7,901 |
Marketing | 1,276 | 1,585 | 3,992 | 4,015 |
FDIC insurance | 786 | 916 | 2,543 | 2,806 |
Amortization of intangible assets | 477 | 556 | 1,454 | 1,742 |
Restructuring and merger-related expense | ' | 36 | ' | 1,265 |
Other operating expenses | 8,589 | 9,500 | 26,884 | 28,024 |
Total non-interest expense | 39,263 | 40,009 | 119,661 | 120,256 |
Income before provision for income taxes | 24,524 | 20,419 | 72,000 | 64,387 |
Provision for income taxes | 6,358 | 4,884 | 18,538 | 15,815 |
NET INCOME | 18,166 | 15,535 | 53,462 | 48,572 |
EARNINGS PER COMMON SHARE | ' | ' | ' | ' |
Basic | $0.62 | $0.53 | $1.83 | $1.66 |
Diluted | $0.62 | $0.53 | $1.82 | $1.66 |
AVERAGE COMMON SHARES OUTSTANDING | ' | ' | ' | ' |
Basic | 29,280,648 | 29,325,128 | 29,235,364 | 29,260,967 |
Diluted | 29,360,880 | 29,412,458 | 29,316,914 | 29,328,305 |
DIVIDENDS DECLARED PER COMMON SHARE | $0.22 | $0.20 | $0.66 | $0.58 |
COMPREHENSIVE INCOME | $16,136 | $14,422 | $58,773 | $36,495 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deferred Benefits for Directors [Member] |
In Thousands, except Share data | |||||||
Beginning Balance at Dec. 31, 2012 | $714,184 | $60,863 | $241,672 | $419,246 | ' | ($6,365) | ($1,232) |
Beginning Balance, Shares at Dec. 31, 2012 | ' | 29,214,660 | ' | ' | ' | ' | ' |
Net income | 48,572 | ' | ' | 48,572 | ' | ' | ' |
Other comprehensive income (loss) | -12,077 | ' | ' | ' | ' | -12,077 | ' |
Comprehensive income | 36,495 | ' | ' | ' | ' | ' | ' |
Common dividends declared ($0.66 and $0.58 per share in Sep 30, 2014 and 2013 respectively) | -16,985 | ' | ' | -16,985 | ' | ' | ' |
Treasury shares acquired | -296 | ' | ' | ' | -296 | ' | ' |
Treasury shares acquired, Shares | ' | -11,851 | ' | ' | ' | ' | ' |
Stock options exercised | 2,671 | 233 | 2,411 | ' | 27 | ' | ' |
Stock options exercised, Shares | ' | 113,674 | ' | ' | ' | ' | ' |
Restricted stock granted | ' | 57 | -326 | ' | 269 | ' | ' |
Restricted stock granted, Shares | ' | 38,250 | ' | ' | ' | ' | ' |
Adjustment to shares issued in acquisition | -104 | -9 | -95 | ' | ' | ' | ' |
Adjustment to shares issued in acquisition, Shares | ' | -4,672 | ' | ' | ' | ' | ' |
Stock compensation expense | 723 | ' | 723 | ' | ' | ' | ' |
Deferred benefits for directors - net | ' | ' | -33 | ' | ' | ' | 33 |
Ending Balance at Sep. 30, 2013 | 736,688 | 61,144 | 244,352 | 450,833 | ' | -18,442 | -1,199 |
Ending Balance, Shares at Sep. 30, 2013 | ' | 29,350,061 | ' | ' | ' | ' | ' |
Beginning Balance at Dec. 31, 2013 | 746,595 | 61,182 | 244,974 | 460,351 | -5,969 | -12,734 | -1,209 |
Beginning Balance, Shares at Dec. 31, 2013 | ' | 29,175,236 | ' | ' | ' | ' | ' |
Net income | 53,462 | ' | ' | 53,462 | ' | ' | ' |
Other comprehensive income (loss) | 5,311 | ' | ' | ' | ' | 5,311 | ' |
Comprehensive income | 58,773 | ' | ' | ' | ' | ' | ' |
Common dividends declared ($0.66 and $0.58 per share in Sep 30, 2014 and 2013 respectively) | -19,302 | ' | ' | -19,302 | ' | ' | ' |
Treasury shares acquired | -20 | ' | 49 | ' | -69 | ' | ' |
Treasury shares acquired, Shares | ' | -2,258 | ' | ' | ' | ' | ' |
Stock options exercised | 1,774 | ' | -342 | ' | 2,116 | ' | ' |
Stock options exercised, Shares | ' | 68,143 | ' | ' | ' | ' | ' |
Restricted stock granted | ' | ' | -1,321 | ' | 1,321 | ' | ' |
Restricted stock granted, Shares | ' | 42,554 | ' | ' | ' | ' | ' |
Stock compensation expense | 964 | ' | 964 | ' | ' | ' | ' |
Deferred benefits for directors - net | ' | ' | 34 | ' | ' | ' | -34 |
Ending Balance at Sep. 30, 2014 | $788,784 | $61,182 | $244,358 | $494,511 | ($2,601) | ($7,423) | ($1,243) |
Ending Balance, Shares at Sep. 30, 2014 | ' | 29,283,675 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Common dividends declared, per share | $0.66 | $0.58 |
Retained Earnings [Member] | ' | ' |
Common dividends declared, per share | $0.66 | $0.58 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Cash Flows [Abstract] | ' | ' |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $70,215 | $88,613 |
INVESTING ACTIVITIES | ' | ' |
Net increase in loans | -142,693 | -159,087 |
Securities available-for-sale: | ' | ' |
Proceeds from sales | 4,819 | 9,265 |
Proceeds from maturities, prepayments and calls | 169,094 | 192,714 |
Purchases of securities | -192,340 | -137,156 |
Securities held-to-maturity: | ' | ' |
Proceeds from maturities, prepayments and calls | 34,572 | 74,590 |
Purchases of securities | -33,153 | -77,179 |
Purchases of premises and equipment - net | -4,409 | -6,571 |
Proceeds from bank-owned life insurance | 2,284 | 2,954 |
Sale of portfolio loans - net | ' | 5,886 |
Net cash used in investing activities | -161,826 | -94,584 |
FINANCING ACTIVITIES | ' | ' |
Increase in deposits | 39,688 | 117,049 |
Proceeds from Federal Home Loan Bank borrowings | 100,532 | ' |
Repayment of Federal Home Loan Bank borrowings | -16,559 | -50,627 |
Decrease in other short-term borrowings | -64,074 | -18,421 |
Increase in federal funds purchased | 30,000 | ' |
Repayment of junior subordinated debt | ' | -7,732 |
Dividends paid to common shareholders | -18,695 | -16,373 |
Treasury shares sold (purchased) - net | 1,587 | -274 |
Issuance of common stock | ' | 2,383 |
Net cash provided by financing activities | 72,479 | 26,005 |
Net (decrease) increase in cash and cash equivalents | -19,132 | 20,034 |
Cash and cash equivalents at beginning of the period | 95,551 | 125,605 |
Cash and cash equivalents at end of the period | 76,419 | 145,639 |
SUPPLEMENTAL DISCLOSURES | ' | ' |
Interest paid on deposits and other borrowings | 18,672 | 25,802 |
Income taxes paid | 12,300 | 15,725 |
Transfers of loans to other real estate owned | 1,832 | 1,800 |
Transfers of loans to held for sale | ' | $9,434 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation — The accompanying unaudited interim financial statements of WesBanco, Inc. and its consolidated subsidiaries (“WesBanco”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013. | |
WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly WesBanco’s financial position and results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year. | |
Recent accounting pronouncements — In August 2014, the Financial Accounting Standards Board (the “FASB”) issued an Accounting Standards Update (“ASU”) (ASU 2014-14) related to the classification of certain government-guaranteed mortgage loans upon foreclosure. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. However, the same method of transition as elected under ASU 2014-04 must be applied. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. | |
In June 2014, the FASB issued an accounting pronouncement (ASU 2014-11) related to repurchase-to-maturity transactions, repurchase financing and disclosures. The pronouncement changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The pronouncement also requires two new disclosures. The first disclosure requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements. The second disclosure provides increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is not permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. | |
In May 2014, the FASB issued an accounting pronouncement (ASU 2014-09) related to the recognition of revenue from contracts with customers. The new revenue pronouncement creates a single source of revenue guidance for all companies in all industries and is more principles-based than current revenue guidance. The pronouncement provides a five-step model for a company to recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The five steps are (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the separate performance obligations and (5) recognize revenue when each performance obligation is satisfied. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016 using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Early adoption is not permitted. WesBanco is currently evaluating the impact of the adoption of this pronouncement on its Consolidated Financial Statements. | |
In January 2014, the FASB issued an accounting pronouncement (ASU 2014-04) related to in-substance repossessions and foreclosures. The pronouncement clarifies when an in-substance repossession or foreclosure occurs. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. | |
In January 2014, the FASB issued an accounting pronouncement (ASU 2014-01) which applies to all reporting entities that invest in qualified affordable housing projects through limited liability entities. The pronouncement permits reporting entities to make an accounting policy election to account for these investments using the proportional amortization method if certain conditions exist. The pronouncement also requires disclosure that enables users of its financial statements to understand the nature of these investments. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The pronouncement should be applied retrospectively for all periods presented, effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. |
Earnings_Per_Common_Share
Earnings Per Common Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Common Share | ' | ||||||||||||||||
NOTE 2. EARNINGS PER COMMON SHARE | |||||||||||||||||
Earnings per common share are calculated as follows: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(unaudited, in thousands, except shares and per share amounts) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator for both basic and diluted earnings per common share: | |||||||||||||||||
Net income | $ | 18,166 | $ | 15,535 | $ | 53,462 | $ | 48,572 | |||||||||
Denominator: | |||||||||||||||||
Total average basic common shares outstanding | 29,280,648 | 29,325,128 | 29,235,364 | 29,260,967 | |||||||||||||
Effect of dilutive stock options and warrant | 80,232 | 87,330 | 81,550 | 67,338 | |||||||||||||
Total diluted average common shares outstanding | 29,360,880 | 29,412,458 | 29,316,914 | 29,328,305 | |||||||||||||
Earnings per common share - basic | $ | 0.62 | $ | 0.53 | $ | 1.83 | $ | 1.66 | |||||||||
Earnings per common share - diluted | $ | 0.62 | $ | 0.53 | $ | 1.82 | $ | 1.66 | |||||||||
Stock options representing shares of 45,701 for the three months ended September 30, 2013, and shares of 73,536 for the nine months ended September 30, 2013, were not included in the computation of diluted earnings per share, because to do so would have been anti-dilutive. For the three and nine months ended September 30, 2014, all outstanding options were dilutive. |
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||||||||||||||
NOTE 3. SECURITIES | |||||||||||||||||||||||||||||||||||||
The following table presents the fair value and amortized cost of available-for-sale and held-to-maturity securities: | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Amortized | Gross | Gross | Estimated | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Obligations of government agencies | $ | 80,769 | $ | 430 | $ | (677 | ) | $ | 80,522 | $ | 75,164 | $ | 6 | $ | (1,938 | ) | $ | 73,232 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 736,497 | 3,069 | (11,150 | ) | 728,416 | 707,000 | 3,191 | (15,924 | ) | 694,267 | |||||||||||||||||||||||||||
Obligations of states and political subdivisions | 97,137 | 5,573 | (15 | ) | 102,695 | 112,536 | 4,165 | (355 | ) | 116,346 | |||||||||||||||||||||||||||
Corporate debt securities | 36,723 | 248 | (179 | ) | 36,792 | 38,777 | 174 | (470 | ) | 38,481 | |||||||||||||||||||||||||||
Total debt securities | $ | 951,126 | $ | 9,320 | $ | (12,021 | ) | $ | 948,425 | $ | 933,477 | $ | 7,536 | $ | (18,687 | ) | $ | 922,326 | |||||||||||||||||||
Equity securities | 10,492 | 644 | (8 | ) | 11,128 | 10,597 | 1,463 | — | 12,060 | ||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 961,618 | $ | 9,964 | $ | (12,029 | ) | $ | 959,553 | $ | 944,074 | $ | 8,999 | $ | (18,687 | ) | $ | 934,386 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | $ | 83,632 | $ | 3,221 | $ | (507 | ) | $ | 86,346 | $ | 99,409 | $ | 2,804 | $ | (1,023 | ) | $ | 101,190 | |||||||||||||||||||
Obligations of states and political subdivisions | 505,486 | 21,589 | (1,786 | ) | 525,289 | 496,396 | 10,158 | (13,906 | ) | 492,648 | |||||||||||||||||||||||||||
Corporate debt securities | 5,742 | 39 | (84 | ) | 5,697 | 2,715 | — | (245 | ) | 2,470 | |||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 594,860 | $ | 24,849 | $ | (2,377 | ) | $ | 617,332 | $ | 598,520 | $ | 12,962 | $ | (15,174 | ) | $ | 596,308 | |||||||||||||||||||
Total securities | $ | 1,556,478 | $ | 34,813 | $ | (14,406 | ) | $ | 1,576,885 | $ | 1,542,594 | $ | 21,961 | $ | (33,861 | ) | $ | 1,530,694 | |||||||||||||||||||
At September 30, 2014, and December 31, 2013, there were no holdings of any one issuer, other than the U.S. government and certain government or government-related agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. | |||||||||||||||||||||||||||||||||||||
The following table presents the fair value of available-for-sale and held-to-maturity securities by contractual maturity at September 30, 2014. In some instances, the issuers may have the right to call or prepay obligations without penalty prior to the contractual maturity date. | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | One Year | One to | Five to | After | Mortgage-backed | Total | |||||||||||||||||||||||||||||||
or less | Five Years | Ten Years | Ten Years | and Equity | |||||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Obligations of government agencies | $ | — | $ | 17,056 | $ | 44,812 | $ | 18,654 | $ | — | $ | 80,522 | |||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) | — | — | — | — | 728,416 | 728,416 | |||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,799 | 39,840 | 20,649 | 35,407 | — | 102,695 | |||||||||||||||||||||||||||||||
Corporate debt securities | 14,034 | 5,865 | 12,069 | 4,824 | — | 36,792 | |||||||||||||||||||||||||||||||
Equity securities (2) | — | — | — | — | 11,128 | 11,128 | |||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 20,833 | $ | 62,761 | $ | 77,530 | $ | 58,885 | $ | 739,544 | $ | 959,553 | |||||||||||||||||||||||||
Held-to-maturity (3) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) | $ | — | $ | — | $ | — | $ | — | $ | 86,346 | $ | 86,346 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 2,725 | 10,650 | 200,258 | 311,656 | — | 525,289 | |||||||||||||||||||||||||||||||
Corporate debt securities | — | — | 5,697 | — | — | 5,697 | |||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,725 | $ | 10,650 | $ | 205,955 | $ | 311,656 | $ | 86,346 | $ | 617,332 | |||||||||||||||||||||||||
Total securities | $ | 23,558 | $ | 73,411 | $ | 283,485 | $ | 370,541 | $ | 825,890 | $ | 1,576,885 | |||||||||||||||||||||||||
-1 | Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. | ||||||||||||||||||||||||||||||||||||
-2 | Equity securities, which have no stated maturity, are not assigned a maturity category. | ||||||||||||||||||||||||||||||||||||
(3) | The held-to-maturity portfolio is carried at an amortized cost of $594.9 million. | ||||||||||||||||||||||||||||||||||||
Securities with aggregate fair values of $721.8 million and $701.7 million at September 30, 2014 and December 31, 2013, respectively, were pledged as security for public and trust funds, and securities sold under agreements to repurchase. Proceeds from the sale of available-for-sale securities were $4.8 million and $9.3 million for the nine months ended September 30, 2014 and 2013, respectively. Net unrealized losses on available-for-sale securities included in accumulated other comprehensive income net of tax, as of September 30, 2014 and December 31, 2013 were ($1.3) million and ($6.1) million, respectively. | |||||||||||||||||||||||||||||||||||||
The following table presents the gross realized gains and losses on sales and calls of securities for the three and nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Gross realized gains | $ | 602 | $ | 5 | $ | 967 | $ | 881 | |||||||||||||||||||||||||||||
Gross realized losses | (21 | ) | (20 | ) | (211 | ) | (194 | ) | |||||||||||||||||||||||||||||
Net realized gains (losses) | $ | 581 | $ | (15 | ) | $ | 756 | $ | 687 | ||||||||||||||||||||||||||||
The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | |||||||||||||||||||||||||||||
Obligations of government agencies | $ | 22,192 | $ | (139 | ) | 7 | $ | 19,457 | $ | (538 | ) | 4 | $ | 41,649 | $ | (677 | ) | 11 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 306,257 | (2,585 | ) | 55 | 237,876 | (9,072 | ) | 43 | 544,133 | (11,657 | ) | 98 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 13,160 | (90 | ) | 16 | 79,954 | (1,711 | ) | 130 | 93,114 | (1,801 | ) | 146 | |||||||||||||||||||||||||
Corporate debt securities | 5,955 | (45 | ) | 2 | 4,490 | (218 | ) | 2 | 10,445 | (263 | ) | 4 | |||||||||||||||||||||||||
Equity securities | 281 | (8 | ) | 1 | — | — | — | 281 | (8 | ) | 1 | ||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 347,845 | $ | (2,867 | ) | 81 | $ | 341,777 | $ | (11,539 | ) | 179 | $ | 689,622 | $ | (14,406 | ) | 260 | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | |||||||||||||||||||||||||||||
Obligations of government agencies | $ | 54,356 | $ | (1,911 | ) | 15 | $ | 5,083 | $ | (27 | ) | 2 | $ | 59,439 | $ | (1,938 | ) | 17 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 513,495 | (14,639 | ) | 89 | 37,002 | (2,308 | ) | 11 | 550,497 | (16,947 | ) | 100 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 181,667 | (10,830 | ) | 277 | 47,793 | (3,431 | ) | 76 | 229,460 | (14,261 | ) | 353 | |||||||||||||||||||||||||
Corporate debt securities | 19,837 | (560 | ) | 7 | 2,845 | (155 | ) | 1 | 22,682 | (715 | ) | 8 | |||||||||||||||||||||||||
Total temporarily impaired securities | $ | 769,355 | $ | (27,940 | ) | 388 | $ | 92,723 | $ | (5,921 | ) | 90 | $ | 862,078 | $ | (33,861 | ) | 478 | |||||||||||||||||||
Unrealized losses on debt securities in the tables represent temporary fluctuations resulting from changes in market rates in relation to fixed yields. Unrealized losses in the available-for-sale portfolio are accounted for as an adjustment to other comprehensive income in shareholders’ equity. | |||||||||||||||||||||||||||||||||||||
WesBanco does not believe the securities presented above are impaired due to reasons of credit quality, as there are no debt securities rated below investment grade and all are paying principal and interest according to their contractual terms. WesBanco does not intend to sell, nor is it more likely than not that it will be required to sell, loss position securities prior to recovery of their cost, and therefore, management believes the unrealized losses detailed above are temporary and no impairment loss relating to these securities has been recognized. | |||||||||||||||||||||||||||||||||||||
Securities that do not have readily determinable fair values and for which WesBanco does not exercise significant influence are carried at cost. Cost method investments consist primarily of Federal Home Loan Bank (“FHLB”) Pittsburgh and FHLB Cincinnati stock totaling $15.0 million and $11.6 million at September 30, 2014 and December 31, 2013, respectively, and are included in other assets in the Consolidated Balance Sheets. Cost method investments are evaluated for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. |
Loans_and_the_Allowance_for_Cr
Loans and the Allowance for Credit Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans and the Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||||||
NOTE 4. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES | |||||||||||||||||||||||||||||||||
The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs of $2.6 million and $2.7 million at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 235,249 | $ | 263,117 | |||||||||||||||||||||||||||||
Improved property | 1,738,087 | 1,649,802 | |||||||||||||||||||||||||||||||
Total commercial real estate | 1,973,336 | 1,912,919 | |||||||||||||||||||||||||||||||
Commercial and industrial | 603,245 | 556,249 | |||||||||||||||||||||||||||||||
Residential real estate | 909,531 | 890,804 | |||||||||||||||||||||||||||||||
Home equity | 313,711 | 284,687 | |||||||||||||||||||||||||||||||
Consumer | 231,881 | 250,258 | |||||||||||||||||||||||||||||||
Total portfolio loans | 4,031,704 | 3,894,917 | |||||||||||||||||||||||||||||||
Loans held for sale | 6,260 | 5,855 | |||||||||||||||||||||||||||||||
Total loans | $ | 4,037,964 | $ | 3,900,772 | |||||||||||||||||||||||||||||
The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: | |||||||||||||||||||||||||||||||||
Allowance for Credit Losses By Category | |||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 and 2013 | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Residential | Home | Consumer | Deposit | Total | |||||||||||||||||||||||||
Real Estate - | Real Estate - | & Industrial | Real Estate | Equity | Overdraft | ||||||||||||||||||||||||||||
Land and | Improved | ||||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
Balance at December 31, 2013: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 6,056 | $ | 18,157 | $ | 9,925 | $ | 5,673 | $ | 2,017 | $ | 5,020 | $ | 520 | $ | 47,368 | |||||||||||||||||
Allowance for loan commitments | 301 | 62 | 130 | 5 | 85 | 19 | — | 602 | |||||||||||||||||||||||||
Total beginning allowance for credit losses | 6,357 | 18,219 | 10,055 | 5,678 | 2,102 | 5,039 | 520 | 47,970 | |||||||||||||||||||||||||
Provision for credit losses: | |||||||||||||||||||||||||||||||||
Provision for loan losses | (812 | ) | (403 | ) | 1,357 | 1,867 | 860 | 1,066 | 660 | 4,595 | |||||||||||||||||||||||
Provision for loan commitments | (35 | ) | (42 | ) | (6 | ) | 1 | 12 | 1 | — | (69 | ) | |||||||||||||||||||||
Total provision for credit losses | (847 | ) | (445 | ) | 1,351 | 1,868 | 872 | 1,067 | 660 | 4,526 | |||||||||||||||||||||||
Charge-offs | — | (1,696 | ) | (2,632 | ) | (2,025 | ) | (591 | ) | (2,326 | ) | (577 | ) | (9,847 | ) | ||||||||||||||||||
Recoveries | — | 457 | 1,058 | 339 | 94 | 782 | 183 | 2,913 | |||||||||||||||||||||||||
Net charge-offs | — | (1,239 | ) | (1,574 | ) | (1,686 | ) | (497 | ) | (1,544 | ) | (394 | ) | (6,934 | ) | ||||||||||||||||||
Balance at September 30, 2014: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | 5,244 | 16,515 | 9,708 | 5,854 | 2,380 | 4,542 | 786 | 45,029 | |||||||||||||||||||||||||
Allowance for loan commitments | 266 | 20 | 124 | 6 | 97 | 20 | — | 533 | |||||||||||||||||||||||||
Total ending allowance for credit losses | $ | 5,510 | $ | 16,535 | $ | 9,832 | $ | 5,860 | $ | 2,477 | $ | 4,562 | $ | 786 | $ | 45,562 | |||||||||||||||||
Balance at December 31, 2012: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 3,741 | $ | 23,614 | $ | 9,326 | $ | 7,182 | $ | 2,458 | $ | 5,557 | $ | 821 | $ | 52,699 | |||||||||||||||||
Allowance for loan commitments | 27 | 25 | 215 | 6 | 49 | 19 | — | 341 | |||||||||||||||||||||||||
Total beginning allowance for credit losses | 3,768 | 23,639 | 9,541 | 7,188 | 2,507 | 5,576 | 821 | 53,040 | |||||||||||||||||||||||||
Provision for credit losses: | |||||||||||||||||||||||||||||||||
Provision for loan losses | 1,179 | 3,066 | (561 | ) | 459 | (61 | ) | 1,457 | 373 | 5,912 | |||||||||||||||||||||||
Provision for loan commitments | 57 | (1 | ) | (64 | ) | — | 37 | 1 | — | 30 | |||||||||||||||||||||||
Total provision for credit losses | 1,236 | 3,065 | (625 | ) | 459 | (24 | ) | 1,458 | 373 | 5,942 | |||||||||||||||||||||||
Charge-offs | (526 | ) | (5,651 | ) | (1,264 | ) | (2,092 | ) | (508 | ) | (3,018 | ) | (666 | ) | (13,725 | ) | |||||||||||||||||
Recoveries | 125 | 482 | 407 | 250 | 108 | 887 | 197 | 2,456 | |||||||||||||||||||||||||
Net charge-offs | (401 | ) | (5,169 | ) | (857 | ) | (1,842 | ) | (400 | ) | (2,131 | ) | (469 | ) | (11,269 | ) | |||||||||||||||||
Balance at September 30, 2013: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | 4,519 | 21,511 | 7,908 | 5,799 | 1,997 | 4,883 | 725 | 47,342 | |||||||||||||||||||||||||
Allowance for loan commitments | 84 | 24 | 151 | 6 | 86 | 20 | — | 371 | |||||||||||||||||||||||||
Total ending allowance for credit losses | $ | 4,603 | $ | 21,535 | $ | 8,059 | $ | 5,805 | $ | 2,083 | $ | 4,903 | $ | 725 | $ | 47,713 | |||||||||||||||||
The following tables present the allowance for credit losses and recorded investment in loans by category: | |||||||||||||||||||||||||||||||||
Allowance for Credit Losses and Recorded Investment in Loans | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Residential | Home | Consumer | Over-draft | Total | |||||||||||||||||||||||||
Real Estate- | Real Estate- | and Industrial | Real Estate | Equity | |||||||||||||||||||||||||||||
Land and | Improved | ||||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||
Allowance for loans individually evaluated for impairment | $ | — | $ | 57 | $ | 1,026 | $ | — | $ | — | $ | — | $ | — | $ | 1,083 | |||||||||||||||||
Allowance for loans collectively evaluated for impairment | 5,244 | 16,458 | 8,682 | 5,854 | 2,380 | 4,542 | 786 | 43,946 | |||||||||||||||||||||||||
Allowance for loan commitments | 266 | 20 | 124 | 6 | 97 | 20 | — | 533 | |||||||||||||||||||||||||
Total allowance for credit losses | $ | 5,510 | $ | 16,535 | $ | 9,832 | $ | 5,860 | $ | 2,477 | $ | 4,562 | $ | 786 | $ | 45,562 | |||||||||||||||||
Portfolio loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ | — | $ | 8,592 | $ | 3,015 | $ | — | $ | — | $ | — | $ | — | $ | 11,607 | |||||||||||||||||
Collectively evaluated for impairment | 235,249 | 1,729,495 | 600,230 | 909,531 | 313,711 | 231,881 | — | 4,020,097 | |||||||||||||||||||||||||
Total portfolio loans | $ | 235,249 | $ | 1,738,087 | $ | 603,245 | $ | 909,531 | $ | 313,711 | $ | 231,881 | $ | — | $ | 4,031,704 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||
Allowance for loans individually evaluated for impairment | $ | — | $ | 51 | $ | 681 | $ | — | $ | — | $ | — | $ | — | $ | 732 | |||||||||||||||||
Allowance for loans collectively evaluated for impairment | 6,056 | 18,106 | 9,244 | 5,673 | 2,017 | 5,020 | 520 | 46,636 | |||||||||||||||||||||||||
Allowance for loan commitments | 301 | 62 | 130 | 5 | 85 | 19 | — | 602 | |||||||||||||||||||||||||
Total allowance for credit losses | $ | 6,357 | $ | 18,219 | $ | 10,055 | $ | 5,678 | $ | 2,102 | $ | 5,039 | $ | 520 | $ | 47,970 | |||||||||||||||||
Portfolio loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ | — | $ | 4,321 | $ | 1,754 | $ | — | $ | — | $ | — | $ | — | $ | 6,075 | |||||||||||||||||
Collectively evaluated for impairment | 263,117 | 1,645,481 | 554,495 | 890,804 | 284,687 | 250,258 | — | 3,888,842 | |||||||||||||||||||||||||
Total portfolio loans | $ | 263,117 | $ | 1,649,802 | $ | 556,249 | $ | 890,804 | $ | 284,687 | $ | 250,258 | $ | — | $ | 3,894,917 | |||||||||||||||||
(1) | Commercial loans greater than $1 million that are reported as non-accrual or as a troubled debt restructuring (“TDR”) are individually evaluated for impairment. | ||||||||||||||||||||||||||||||||
WesBanco maintains an internal loan grading system to reflect the credit quality of commercial loans. Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at the inception of each loan and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. This includes an analysis of cash flow available to repay debt, profitability, liquidity, leverage, and overall financial trends. Other factors include management, industry or property type risks, an assessment of secondary sources of repayment such as collateral or guarantees, other terms and conditions of the loan that may increase or reduce its risk, and economic conditions and other external factors that may influence repayment capacity and financial condition. | |||||||||||||||||||||||||||||||||
Commercial real estate — land and construction consists of loans to finance investments in vacant land, land development, construction of residential housing, and construction of commercial buildings. Commercial real estate – improved property consists of loans for the purchase or refinance of all types of improved owner-occupied and investment properties. Factors that are considered in assigning the risk grade vary depending on the type of property financed. The risk grade assigned to construction and development loans is based on the overall viability of the project, the experience and financial capacity of the developer or builder to successfully complete the project, project specific and market absorption rates and comparable property values, and the amount of pre-sales for residential housing construction or pre-leases for commercial investment property. The risk grade assigned to commercial investment property loans is based primarily on the adequacy of net rental income generated by the property to service the debt, the type, quality, industry and mix of tenants, and the terms of leases, but also considers the overall financial capacity of the investors and their experience in owning and managing investment property. The risk grade assigned to owner-occupied commercial real estate and commercial and industrial loans is based primarily on historical and projected earnings, the adequacy of operating cash flow to service all of the business’ debt, and the capital resources, liquidity and leverage of the business, but also considers the industry in which the business operates, the business’ specific competitive advantages or disadvantages, the quality and experience of management, and external influences on the business such as economic conditions. Other factors that are considered for commercial and industrial loans include the type, quality and marketability of non-real estate collateral and whether the structure of the loan increases or reduces its risk. The type, age, condition, location and any environmental risks associated with a property are also considered for all types of commercial real estate. The overall financial condition and repayment capacity of any guarantors is also evaluated to determine the extent to which they mitigate other risks of the loan. The following descriptions of risk grades apply to commercial real estate and commercial and industrial loans: | |||||||||||||||||||||||||||||||||
Pass loans are those that exhibit a history of positive financial results that are at least comparable to the average for their industry or type of real estate. The primary source of repayment is acceptable and these loans are expected to perform satisfactorily during most economic cycles. Pass loans typically have no significant external factors that are expected to adversely affect these borrowers more than others in the same industry or property type. Any minor unfavorable characteristics of these loans are outweighed or mitigated by other positive factors including but not limited to adequate secondary or tertiary sources of repayment. | |||||||||||||||||||||||||||||||||
Criticized or compromised loans are currently protected but have weaknesses, which, if not corrected, may inadequately protect WesBanco Bank, Inc. (the “Bank”) at some future date. These loans represent an unwarranted credit risk and would generally not be extended in the normal course of lending. Specific issues which may warrant this grade include declining financial results, increased reliance on secondary sources of repayment or guarantor support and adverse external influences that may negatively impact the business or property. | |||||||||||||||||||||||||||||||||
Substandard and doubtful loans are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current repayment capacity and equity of the borrower or collateral pledged, if any. Substandard loans have one or more well-defined weaknesses that jeopardize their repayment or collection in full. These loans may or may not be reported as non-accrual. Doubtful loans have all the weaknesses inherent to a substandard loan with the added characteristic that full repayment is highly questionable or improbable on the basis of currently existing facts, conditions and collateral values. However, recognition of loss may be deferred if there are reasonably specific pending factors that will reduce the risk if they occur. | |||||||||||||||||||||||||||||||||
The following tables summarize commercial loans by their assigned risk grade: | |||||||||||||||||||||||||||||||||
Commerical Loans by Internally Assigned Risk Grade | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Total | |||||||||||||||||||||||||||||
Real Estate- | Real Estate- | & Industrial | Commercial | ||||||||||||||||||||||||||||||
Land and | Improved | Loans | |||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||
Pass | $ | 227,987 | $ | 1,680,289 | $ | 580,748 | $ | 2,489,024 | |||||||||||||||||||||||||
Criticized - compromised | 5,499 | 19,783 | 14,271 | 39,553 | |||||||||||||||||||||||||||||
Classified - substandard | 1,763 | 38,015 | 8,192 | 47,970 | |||||||||||||||||||||||||||||
Classified - doubtful | — | — | 34 | 34 | |||||||||||||||||||||||||||||
Total | $ | 235,249 | $ | 1,738,087 | $ | 603,245 | $ | 2,576,581 | |||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||
Pass | $ | 253,231 | $ | 1,548,780 | $ | 531,573 | $ | 2,333,584 | |||||||||||||||||||||||||
Criticized - compromised | 6,498 | 57,983 | 10,768 | 75,249 | |||||||||||||||||||||||||||||
Classified - substandard | 3,388 | 43,039 | 13,908 | 60,335 | |||||||||||||||||||||||||||||
Classified - doubtful | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 263,117 | $ | 1,649,802 | $ | 556,249 | $ | 2,469,168 | |||||||||||||||||||||||||
Residential real estate, home equity and consumer loans are not assigned internal risk grades other than as required by regulatory guidelines that are based primarily on the age of past due loans. WesBanco primarily evaluates the credit quality of residential real estate, home equity and consumer loans based on repayment performance and historical loss rates. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard in accordance with regulatory guidelines were $14.6 million at September 30, 2014 and $14.4 million at December 31, 2013, of which $3.1 and $2.0 million were accruing, for each period, respectively. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard are not included in the tables above. | |||||||||||||||||||||||||||||||||
The following tables summarize the age analysis of all categories of loans: | |||||||||||||||||||||||||||||||||
Age Analysis of Loans | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Current | 30-59 | 60-89 | 90 Days | Total | Total Loans | 90 Days or | ||||||||||||||||||||||||||
Days | Days | or More | Past Due | More | |||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due and | ||||||||||||||||||||||||||||||
Accruing (1) | |||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 233,591 | $ | 140 | $ | 233 | $ | 1,285 | $ | 1,658 | $ | 235,249 | $ | — | |||||||||||||||||||
Improved property | 1,720,260 | 2,531 | 4,911 | 10,385 | 17,827 | 1,738,087 | — | ||||||||||||||||||||||||||
Total commercial real estate | 1,953,851 | 2,671 | 5,144 | 11,670 | 19,485 | 1,973,336 | — | ||||||||||||||||||||||||||
Commercial and industrial | 598,791 | 334 | 1,320 | 2,800 | 4,454 | 603,245 | 86 | ||||||||||||||||||||||||||
Residential real estate | 897,554 | 1,121 | 2,347 | 8,509 | 11,977 | 909,531 | 1,826 | ||||||||||||||||||||||||||
Home equity | 309,672 | 1,727 | 479 | 1,833 | 4,039 | 313,711 | 852 | ||||||||||||||||||||||||||
Consumer | 228,342 | 2,464 | 527 | 548 | 3,539 | 231,881 | 383 | ||||||||||||||||||||||||||
Total portfolio loans | 3,988,210 | 8,317 | 9,817 | 25,360 | 43,494 | 4,031,704 | 3,147 | ||||||||||||||||||||||||||
Loans held for sale | 6,260 | — | — | — | — | 6,260 | — | ||||||||||||||||||||||||||
Total loans | $ | 3,994,470 | $ | 8,317 | $ | 9,817 | $ | 25,360 | $ | 43,494 | $ | 4,037,964 | $ | 3,147 | |||||||||||||||||||
Impaired loans included above are as follows: | |||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 7,723 | $ | 893 | $ | 6,113 | $ | 22,042 | $ | 29,048 | $ | 36,771 | |||||||||||||||||||||
TDRs accruing interest (1) | 11,668 | 174 | 209 | 171 | 554 | 12,222 | |||||||||||||||||||||||||||
Total impaired | $ | 19,391 | $ | 1,067 | $ | 6,322 | $ | 22,213 | $ | 29,602 | $ | 48,993 | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 261,165 | $ | 2 | $ | — | $ | 1,950 | $ | 1,952 | $ | 263,117 | $ | 248 | |||||||||||||||||||
Improved property | 1,632,973 | 2,482 | 2,346 | 12,001 | 16,829 | 1,649,802 | 318 | ||||||||||||||||||||||||||
Total commercial real estate | 1,894,138 | 2,484 | 2,346 | 13,951 | 18,781 | 1,912,919 | 566 | ||||||||||||||||||||||||||
Commercial and industrial | 552,414 | 1,112 | 977 | 1,746 | 3,835 | 556,249 | — | ||||||||||||||||||||||||||
Residential real estate | 875,192 | 1,641 | 4,710 | 9,261 | 15,612 | 890,804 | 1,289 | ||||||||||||||||||||||||||
Home equity | 281,004 | 1,581 | 470 | 1,632 | 3,683 | 284,687 | 411 | ||||||||||||||||||||||||||
Consumer | 245,876 | 3,223 | 649 | 510 | 4,382 | 250,258 | 325 | ||||||||||||||||||||||||||
Total portfolio loans | 3,848,624 | 10,041 | 9,152 | 27,100 | 46,293 | 3,894,917 | 2,591 | ||||||||||||||||||||||||||
Loans held for sale | 5,855 | — | — | — | — | 5,855 | — | ||||||||||||||||||||||||||
Total loans | $ | 3,854,479 | $ | 10,041 | $ | 9,152 | $ | 27,100 | $ | 46,293 | $ | 3,900,772 | $ | 2,591 | |||||||||||||||||||
Impaired loans included above are as follows: | |||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 9,028 | $ | 588 | $ | 2,722 | $ | 24,295 | $ | 27,605 | $ | 36,633 | |||||||||||||||||||||
TDRs accruing interest (1) | 13,595 | 171 | 881 | 214 | 1,266 | 14,861 | |||||||||||||||||||||||||||
Total impaired | $ | 22,623 | $ | 759 | $ | 3,603 | $ | 24,509 | $ | 28,871 | $ | 51,494 | |||||||||||||||||||||
-1 | Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. | ||||||||||||||||||||||||||||||||
Impaired Loans — A loan is considered impaired, based on current information and events, if it is probable that WesBanco will be unable to collect the payments of principal and interest when due according to the contractual terms of the loan agreement. Impaired loans generally included all non-accrual loans and TDRs. | |||||||||||||||||||||||||||||||||
Loans are generally placed on non-accrual when they are 90 days past due unless the loan is well-secured and in the process of collection. Loans may also be placed on non-accrual when full collection of principal is in doubt even if payments on such loans remain current, or may remain on non-accrual if they were past due but subsequently brought current. | |||||||||||||||||||||||||||||||||
Loans are categorized as TDRs when the Bank, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. | |||||||||||||||||||||||||||||||||
The following tables summarize impaired loans: | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Unpaid | Recorded | Related | Unpaid | Recorded | Related | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Principal | Investment | Allowance | ||||||||||||||||||||||||||||
Balance (1) | Balance (1) | ||||||||||||||||||||||||||||||||
With no related specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,647 | $ | 1,547 | $ | — | $ | 2,663 | $ | 2,564 | $ | — | |||||||||||||||||||||
Improved property | 18,361 | 16,888 | — | 21,421 | 19,628 | — | |||||||||||||||||||||||||||
Commercial and industrial | 4,192 | 3,714 | — | 3,773 | 3,249 | — | |||||||||||||||||||||||||||
Residential real estate | 19,438 | 17,782 | — | 22,006 | 20,090 | — | |||||||||||||||||||||||||||
Home equity | 2,551 | 2,264 | — | 2,675 | 2,506 | — | |||||||||||||||||||||||||||
Consumer | 1,264 | 1,071 | — | 1,402 | 1,182 | — | |||||||||||||||||||||||||||
Total impaired loans without a specific allowance | 47,453 | 43,266 | — | 53,940 | 49,219 | — | |||||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Improved property | 3,812 | 3,812 | 57 | 729 | 729 | 51 | |||||||||||||||||||||||||||
Commercial and industrial | 1,915 | 1,915 | 1,026 | 1,546 | 1,546 | 681 | |||||||||||||||||||||||||||
Total impaired loans with a specific allowance | 5,727 | 5,727 | 1,083 | 2,275 | 2,275 | 732 | |||||||||||||||||||||||||||
Total impaired loans | $ | 53,180 | $ | 48,993 | $ | 1,083 | $ | 56,215 | $ | 51,494 | $ | 732 | |||||||||||||||||||||
-1 | The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off. | ||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||
(unaudited, in thousands) | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
With no related specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,749 | $ | 11 | $ | 4,181 | $ | — | $ | 2,099 | $ | 26 | $ | 5,049 | $ | 89 | |||||||||||||||||
Improved Property | 17,672 | 169 | 22,777 | 92 | 18,415 | 322 | 23,471 | 408 | |||||||||||||||||||||||||
Commercial and industrial | 4,071 | (2 | ) | 3,643 | 26 | 3,802 | 87 | 3,884 | 87 | ||||||||||||||||||||||||
Residential real estate | 18,337 | 219 | 19,487 | 217 | 18,900 | 610 | 19,872 | 582 | |||||||||||||||||||||||||
Home equity | 2,191 | 13 | 2,278 | 20 | 2,279 | 48 | 2,201 | 50 | |||||||||||||||||||||||||
Consumer | 1,087 | 26 | 1,361 | 28 | 1,131 | 72 | 1,425 | 77 | |||||||||||||||||||||||||
Total impaired loans without a specific allowance | 45,107 | 436 | 53,727 | 383 | 46,626 | 1,165 | 55,902 | 1,293 | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | — | 1,500 | 6 | — | — | 1,543 | 28 | |||||||||||||||||||||||||
Improved Property | 2,269 | 109 | 2,765 | — | 1,499 | 113 | 3,251 | — | |||||||||||||||||||||||||
Commercial and industrial | 1,938 | 27 | — | — | 2,134 | 68 | — | — | |||||||||||||||||||||||||
Total impaired loans with a specific allowance | 4,207 | 136 | 4,265 | 6 | 3,633 | 181 | 4,794 | 28 | |||||||||||||||||||||||||
Total impaired loans | $ | 49,314 | $ | 572 | $ | 57,992 | $ | 389 | $ | 50,259 | $ | 1,346 | $ | 60,696 | $ | 1,321 | |||||||||||||||||
The following tables present the recorded investment in non-accrual loans and TDRs: | |||||||||||||||||||||||||||||||||
Non-accrual Loans (1) | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,547 | $ | 2,564 | |||||||||||||||||||||||||||||
Improved property | 18,206 | 17,305 | |||||||||||||||||||||||||||||||
Total commercial real estate | 19,753 | 19,869 | |||||||||||||||||||||||||||||||
Commercial and industrial | 5,432 | 4,380 | |||||||||||||||||||||||||||||||
Residential real estate | 9,404 | 10,240 | |||||||||||||||||||||||||||||||
Home equity | 1,499 | 1,604 | |||||||||||||||||||||||||||||||
Consumer | 683 | 540 | |||||||||||||||||||||||||||||||
Total | $ | 36,771 | $ | 36,633 | |||||||||||||||||||||||||||||
(1) | Total non-accrual loans include loans that are also restructured. Such loans are also set forth in the following table as non-accrual TDRs. | ||||||||||||||||||||||||||||||||
TDRs | |||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Accruing | Non- | Total | Accruing | Non- | Total | |||||||||||||||||||||||||||
Accrual | Accrual | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | — | $ | 466 | $ | 466 | $ | — | $ | 1,601 | $ | 1,601 | |||||||||||||||||||||
Improved property | 2,494 | 1,572 | 4,066 | 3,052 | 3,658 | 6,710 | |||||||||||||||||||||||||||
Total commercial real estate | 2,494 | 2,038 | 4,532 | 3,052 | 5,259 | 8,311 | |||||||||||||||||||||||||||
Commercial and industrial | 197 | 686 | 883 | 415 | 579 | 994 | |||||||||||||||||||||||||||
Residential real estate | 8,378 | 2,208 | 10,586 | 9,850 | 2,991 | 12,841 | |||||||||||||||||||||||||||
Home equity | 765 | 264 | 1,029 | 902 | 289 | 1,191 | |||||||||||||||||||||||||||
Consumer | 388 | 300 | 688 | 642 | 206 | 848 | |||||||||||||||||||||||||||
Total | $ | 12,222 | $ | 5,496 | $ | 17,718 | $ | 14,861 | $ | 9,324 | $ | 24,185 | |||||||||||||||||||||
As of September 30, 2014, there were no TDRs greater than $1.0 million. The concessions granted in the majority of loans reported as accruing and non-accrual TDRs are extensions of the maturity date or the amortization period, reductions in the interest rate below the prevailing market rate for loans with comparable characteristics, and/or permitting interest-only payments for longer than three months. | |||||||||||||||||||||||||||||||||
The following tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2014 and September 30, 2013, respectively: | |||||||||||||||||||||||||||||||||
New TDRs (1) | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||||||||||
Modifications | Modification | Modification | Modifications | Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | $ | — | 1 | $ | 66 | $ | 65 | |||||||||||||||||||||||
Improved Property | 2 | 475 | 465 | 1 | 49 | 49 | |||||||||||||||||||||||||||
Total commercial real estate | 2 | 475 | 465 | 2 | 115 | 114 | |||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 1 | 14 | 14 | |||||||||||||||||||||||||||
Residential real estate | 1 | 112 | 112 | 8 | 307 | 280 | |||||||||||||||||||||||||||
Home equity | 1 | 58 | 57 | 2 | 75 | 52 | |||||||||||||||||||||||||||
Consumer | 2 | 52 | 50 | 9 | 98 | 92 | |||||||||||||||||||||||||||
Total | 6 | $ | 697 | $ | 684 | 22 | $ | 609 | $ | 552 | |||||||||||||||||||||||
(1) | Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. | ||||||||||||||||||||||||||||||||
New TDRs (1) | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||||||||||
Modifications | Modification | Modification | Modifications | Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | $ | — | 2 | $ | 366 | $ | 359 | |||||||||||||||||||||||
Improved Property | 4 | 692 | 664 | 6 | 568 | 395 | |||||||||||||||||||||||||||
Total commercial real estate | 4 | 692 | 664 | 8 | 934 | 754 | |||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 7 | 164 | 161 | |||||||||||||||||||||||||||
Residential real estate | 5 | 286 | 278 | 24 | 2,180 | 2,094 | |||||||||||||||||||||||||||
Home equity | 1 | 59 | 57 | 3 | 91 | 64 | |||||||||||||||||||||||||||
Consumer | 12 | 191 | 163 | 13 | 143 | 120 | |||||||||||||||||||||||||||
Total | 22 | $ | 1,228 | $ | 1,162 | 55 | $ | 3,512 | $ | 3,193 | |||||||||||||||||||||||
(1) | Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. | ||||||||||||||||||||||||||||||||
The following tables summarize TDRs which defaulted (defined as past due 90 days or more) during the three and nine months ended September 30, 2014 and 2013 that were restructured within the last twelve months prior to September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||
Defaulted TDRs (1) | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Improved property | — | — | — | — | |||||||||||||||||||||||||||||
Total commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | |||||||||||||||||||||||||||||
Residential real estate | — | — | 8 | 451 | |||||||||||||||||||||||||||||
Home equity | — | — | 1 | 20 | |||||||||||||||||||||||||||||
Consumer | — | — | 3 | 37 | |||||||||||||||||||||||||||||
Total | — | $ | — | 12 | $ | 508 | |||||||||||||||||||||||||||
(1) | Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
Defaulted TDRs (1) | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Improved property | — | — | 1 | 45 | |||||||||||||||||||||||||||||
Total commercial real estate | — | — | 1 | 45 | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | 2 | 293 | |||||||||||||||||||||||||||||
Residential real estate | 1 | 45 | 24 | 1,624 | |||||||||||||||||||||||||||||
Home equity | — | — | 5 | 107 | |||||||||||||||||||||||||||||
Consumer | — | — | 3 | 37 | |||||||||||||||||||||||||||||
Total | 1 | $ | 45 | 35 | $ | 2,106 | |||||||||||||||||||||||||||
(1) | Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
TDRs that defaulted during the nine month period that were restructured within the last twelve months represented 0.3% of the total TDR balance at September 30, 2014. These loans are placed on non-accrual status unless they are both well-secured and in the process of collection. At September 30, 2014, the loan in the table above was not accruing interest. | |||||||||||||||||||||||||||||||||
The following table summarizes other real estate owned and repossessed assets included in other assets: | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Other real estate owned | $ | 4,505 | $ | 4,689 | |||||||||||||||||||||||||||||
Repossessed assets | 190 | 171 | |||||||||||||||||||||||||||||||
Total other real estate owned and repossessed assets | $ | 4,695 | $ | 4,860 | |||||||||||||||||||||||||||||
Residential real estate included in other real estate owned at September 30, 2014 and December 31, 2013 was $0.5 million and $0.3 million, respectively. At September 30, 2014, formal foreclosure proceedings were in process on residential real estate loans totaling $5.1 million. |
Pension_Plan
Pension Plan | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension Plan | ' | ||||||||||||||||
NOTE 5. PENSION PLAN | |||||||||||||||||
The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost - benefits earned during year | $ | 734 | $ | 742 | $ | 2,176 | $ | 2,398 | |||||||||
Interest cost on projected benefit obligation | 1,196 | 1,015 | 3,549 | 3,092 | |||||||||||||
Expected return on plan assets | (1,822 | ) | (1,485 | ) | (5,407 | ) | (4,525 | ) | |||||||||
Amortization of prior service cost | 11 | 11 | 33 | 34 | |||||||||||||
Amortization of net loss | 370 | 906 | 1,100 | 2,626 | |||||||||||||
Net periodic pension cost | $ | 489 | $ | 1,189 | $ | 1,451 | $ | 3,625 | |||||||||
The Plan covers all employees of WesBanco who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date. | |||||||||||||||||
A minimum required contribution of $4.0 million is due for 2014 which could be all or partially funded by the Plan’s $29.2 million available credit balance. A contribution of $2.5 million was made in June 2014 and an additional $2.5 million is expected to be funded in December. |
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||||||
NOTE 6. FAIR VALUE MEASUREMENT | |||||||||||||||||||||
Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments. | |||||||||||||||||||||
Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities and therefore, the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows. | |||||||||||||||||||||
The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied: | |||||||||||||||||||||
Securities available-for-sale: The fair value of securities available-for-sale which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other similar securities. These securities are classified within level 1 or 2 in the fair value hierarchy. Certain equity securities that are lightly traded in over-the-counter markets are classified as level 2 in the fair value hierarchy, as quoted market prices may not be available on the fair value measurement date. Positions that are not traded in active markets for which valuations are generated using assumptions not observable in the market or management’s best estimate are classified within level 3 of the fair value hierarchy. This includes certain specific municipal debt issues for which the credit quality and discount rate must be estimated. | |||||||||||||||||||||
We may be required from time to time to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower of cost or market accounting or write-downs of individual assets. | |||||||||||||||||||||
Impaired loans: Impaired loans are carried at the lower of cost or the fair value of the collateral for collateral-dependent loans. Collateral may be in the form of real estate or business assets including equipment, inventory and accounts receivable. The use of independent appraisals, discounted cash flow models and management’s best judgment are significant inputs in arriving at the fair value measure of the underlying collateral and impaired loans are therefore classified within level 3 of the fair value hierarchy. | |||||||||||||||||||||
Other real estate owned and repossessed assets: Other real estate owned and repossessed assets are carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. The use of independent appraisals and management’s best judgment are significant inputs in arriving at the fair value measure of the underlying collateral, and therefore other real estate owned and repossessed assets are classified within level 3 of the fair value hierarchy. | |||||||||||||||||||||
Loans held for sale: Loans held for sale are carried, in aggregate, at the lower of cost or fair value. The use of a valuation model using quoted prices of similar instruments are significant inputs in arriving at the fair value and therefore loans held for sale are classified within level 2 of the fair value hierarchy. | |||||||||||||||||||||
The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||
(unaudited, in thousands) | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
2014 | Active Markets | Observable | Unobservable | ||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Securities - available-for-sale | |||||||||||||||||||||
Obligations of government agencies | $ | 80,522 | $ | — | $ | 80,522 | $ | — | |||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 728,416 | — | 728,416 | — | |||||||||||||||||
Obligations of state and political subdivisions | 102,695 | — | 102,695 | — | |||||||||||||||||
Corporate debt securities | 36,792 | — | 36,792 | — | |||||||||||||||||
Equity securities | 11,128 | 9,197 | 1,931 | — | |||||||||||||||||
Total securities - available-for-sale | $ | 959,553 | $ | 9,197 | $ | 950,356 | $ | — | |||||||||||||
Total recurring fair value measurements | $ | 959,553 | $ | 9,197 | $ | 950,356 | $ | — | |||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||
Impaired loans | $ | 4,644 | $ | — | $ | — | $ | 4,644 | |||||||||||||
Other real estate owned and repossessed assets | 4,695 | — | — | 4,695 | |||||||||||||||||
Loans held for sale | 6,260 | — | 6,260 | — | |||||||||||||||||
Total nonrecurring fair value measurements | $ | 15,599 | $ | — | $ | 6,260 | $ | 9,339 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||
(unaudited, in thousands) | December 31, | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
2013 | Active Markets | Observable | Unobservable | ||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Securities - available-for-sale | |||||||||||||||||||||
Obligations of government agencies | $ | 73,232 | $ | — | $ | 73,232 | $ | — | |||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 694,267 | — | 694,267 | — | |||||||||||||||||
Obligations of state and political subdivisions | 116,346 | — | 116,346 | — | |||||||||||||||||
Corporate debt securities | 38,481 | — | 38,481 | — | |||||||||||||||||
Equity securities | 12,060 | 9,962 | 2,098 | — | |||||||||||||||||
Total securities - available-for-sale | $ | 934,386 | $ | 9,962 | $ | 924,424 | $ | — | |||||||||||||
Total recurring fair value measurements | $ | 934,386 | $ | 9,962 | $ | 924,424 | $ | — | |||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||
Impaired loans | $ | 1,543 | $ | — | $ | — | $ | 1,543 | |||||||||||||
Other real estate owned and repossessed assets | 4,860 | — | — | 4,860 | |||||||||||||||||
Loans held for sale | 5,855 | — | 5,855 | — | |||||||||||||||||
Total nonrecurring fair value measurements | $ | 12,258 | $ | — | $ | 5,855 | $ | 6,403 | |||||||||||||
WesBanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between level 1, 2 or 3 for the nine months ended September 30, 2014 or 2013. | |||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
(unaudited, in thousands) | Fair Value | Valuation Techniques | Unobservable Input | Range / Weighted Average | |||||||||||||||||
Estimate | |||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||
Impaired loans | $ | 4,644 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to (36.9%) / (11.6%) | ||||||||||||||||
Liquidation expenses (2) | (1.0%) to (8.0%) / (7.2%) | ||||||||||||||||||||
Other real estate owned and repossessed assets | 4,695 | Appraisal of collateral (1), (3) | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Impaired loans | $ | 1,543 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to (29.1%) / (15.6%) | ||||||||||||||||
Liquidation expenses (2) | (3.5%) to (8.0%) / (4.7%) | ||||||||||||||||||||
Other real estate owned and repossessed assets | 4,860 | Appraisal of collateral (1), (3) | |||||||||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. | ||||||||||||||||||||
(2) | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. | ||||||||||||||||||||
(3) | Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. | ||||||||||||||||||||
The estimated fair values of WesBanco’s financial instruments are summarized below: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(unaudited in thousands) | Carrying | Fair Value | Quoted Prices in | Significant Other | Significant | ||||||||||||||||
Amount | Estimate | Active Markets | Observable | Unobservable | |||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and due from banks | $ | 76,419 | $ | 76,419 | $ | 76,419 | $ | — | $ | — | |||||||||||
Securities available-for-sale | 959,553 | 959,553 | 9,197 | 950,356 | — | ||||||||||||||||
Securities held-to-maturity | 594,860 | 617,332 | — | 616,589 | 743 | ||||||||||||||||
Net loans | 3,986,675 | 3,945,722 | — | — | 3,945,722 | ||||||||||||||||
Loans held for sale | 6,260 | 6,260 | — | 6,260 | — | ||||||||||||||||
Accrued interest receivable | 20,032 | 20,032 | 20,032 | — | — | ||||||||||||||||
Bank-owned life insurance | 122,678 | 122,678 | 122,678 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 5,101,685 | 5,110,555 | 3,743,378 | 1,367,177 | — | ||||||||||||||||
Federal Home Loan Bank borrowings | 123,374 | 125,749 | — | 125,749 | — | ||||||||||||||||
Other borrowings | 117,637 | 117,640 | 114,222 | 3,418 | — | ||||||||||||||||
Junior subordinated debt | 106,166 | 80,080 | — | 80,080 | — | ||||||||||||||||
Accrued interest payable | 2,103 | 2,103 | 2,103 | — | — | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and due from banks | $ | 95,551 | $ | 95,551 | $ | 95,551 | $ | — | $ | — | |||||||||||
Securities available-for-sale | 934,386 | 934,386 | 9,962 | 924,424 | — | ||||||||||||||||
Securities held-to-maturity | 598,520 | 596,308 | — | 595,581 | 727 | ||||||||||||||||
Net loans | 3,847,549 | 3,754,465 | — | — | 3,754,465 | ||||||||||||||||
Loans held for sale | 5,855 | 5,855 | — | 5,855 | — | ||||||||||||||||
Accrued interest receivable | 18,960 | 18,960 | 18,960 | — | — | ||||||||||||||||
Bank-owned life insurance | 121,390 | 121,390 | 121,390 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 5,062,530 | 5,076,207 | 3,551,052 | 1,525,155 | — | ||||||||||||||||
Federal Home Loan Bank borrowings | 39,508 | 42,314 | — | 42,314 | — | ||||||||||||||||
Other borrowings | 150,536 | 153,015 | 104,196 | 48,819 | — | ||||||||||||||||
Junior subordinated debt | 106,137 | 74,038 | — | 74,038 | — | ||||||||||||||||
Accrued interest payable | 2,354 | 2,354 | 2,354 | — | — | ||||||||||||||||
The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on WesBanco’s Consolidated Balance Sheets: | |||||||||||||||||||||
Cash and due from banks: The carrying amount for cash and due from banks is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities held-to-maturity: Fair values for securities held-to-maturity are determined in the same manner as securities available-for-sale which is described above. | |||||||||||||||||||||
Net loans: Fair values for loans are estimated using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and other market factors, including liquidity. The valuation of the loan portfolio reflects discounts that WesBanco believes are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value that fair value is compared to is net of the allowance for loan losses and other associated premiums and discounts. Due to the significant judgment involved in evaluating credit quality, loans are classified within level 3 of the fair value hierarchy. | |||||||||||||||||||||
Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. | |||||||||||||||||||||
Bank-owned life insurance: The carrying value of bank-owned life insurance represents the net cash surrender value of the underlying insurance policies, should these policies be terminated. Management believes that the carrying value approximates its fair value. | |||||||||||||||||||||
Deposits: The carrying amount is considered a reasonable estimate of fair value for demand, savings and other variable rate deposit accounts. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Federal Home Loan Bank borrowings: The fair value of FHLB borrowings is based on rates currently available to WesBanco for borrowings with similar terms and remaining maturities. | |||||||||||||||||||||
Other borrowings: The carrying amount of federal funds purchased and overnight sweep accounts generally approximate fair value. Other repurchase agreements are based on quoted market prices if available. If market prices are not available, for certain adjustable rate repurchase agreements, then quoted market prices of similar instruments are used. | |||||||||||||||||||||
Junior subordinated debt owed to unconsolidated subsidiary trusts: Due to the pooled nature of these instruments, which are not actively traded, estimated fair value is based on recent similar transactions of single-issuer trust preferred securities. | |||||||||||||||||||||
Accrued interest payable: The carrying amount of accrued interest payable approximates its fair value. | |||||||||||||||||||||
Off-balance sheet financial instruments: Off-balance sheet financial instruments consist of commitments to extend credit including letters of credit. Fair values for commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counterparties. The estimated fair value of the commitments to extend credit and letters of credit are insignificant and therefore are not presented in the above tables. |
Comprehensive_Income
Comprehensive Income | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||
Comprehensive Income | ' | ||||||||||||||||||
NOTE 7. COMPREHENSIVE INCOME | |||||||||||||||||||
The activity in accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||
Accumulated Other Comprehensive Income (1) | |||||||||||||||||||
(unaudited, in thousands) | Defined | Unrealized Gains | Unrealized Gains | Total | |||||||||||||||
Benefit | (Losses) on | on Securities | |||||||||||||||||
Pension | Securities | Transferred | |||||||||||||||||
Plan | Available-for-Sale | from Available- | |||||||||||||||||
for-Sale to | |||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||
Balance at December 31, 2013 | $ | (7,966 | ) | $ | (6,126 | ) | $ | 1,358 | $ | (12,734 | ) | ||||||||
Other comprehensive income before reclassifications | — | 5,344 | — | 5,344 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income | 716 | (525 | ) | (224 | ) | (33 | ) | ||||||||||||
Period change | 716 | 4,819 | (224 | ) | 5,311 | ||||||||||||||
Balance at September 30, 2014 | $ | (7,250 | ) | $ | (1,307 | ) | $ | 1,134 | $ | (7,423 | ) | ||||||||
Balance at December 31, 2012 | $ | (21,401 | ) | $ | 13,032 | $ | 2,004 | $ | (6,365 | ) | |||||||||
Other comprehensive income before reclassifications | — | (13,095 | ) | — | (13,095 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | 1,630 | (75 | ) | (537 | ) | 1,018 | |||||||||||||
Period change | 1,630 | (13,170 | ) | (537 | ) | (12,077 | ) | ||||||||||||
Balance at September 30, 2013 | $ | (19,771 | ) | $ | (138 | ) | $ | 1,467 | $ | (18,442 | ) | ||||||||
(1) | All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 36.5%. | ||||||||||||||||||
The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2014 and 2013: | |||||||||||||||||||
Details about Accumulated Other Comprehensive | For the Three Months Ended | For the Nine Months Ended | Affected Line Item in the | ||||||||||||||||
Income Components | September 30, | September 30, | Statement of Net Income | ||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Securities available-for-sale (1): | |||||||||||||||||||
Net securities (gains)/losses reclassified into earnings | $ | (583 | ) | $ | 10 | $ | (831 | ) | $ | (119 | ) | Net securities gains (Non-interest income) | |||||||
Related income tax expense/(benefit) | 214 | (4 | ) | 306 | 44 | Provision for income taxes | |||||||||||||
Net effect on accumulated other comprehensive income for the period | (369 | ) | 6 | (525 | ) | (75 | ) | ||||||||||||
Securities held-to-maturity (1): | |||||||||||||||||||
Amortization of unrealized gain transferred from available-for-sale | (84 | ) | (207 | ) | (354 | ) | (857 | ) | Interest and dividends on securities (Interest and dividend income) | ||||||||||
Related income tax expense | 31 | 76 | 130 | 320 | Provision for income taxes | ||||||||||||||
Net effect on accumulated other comprehensive income for the period | (53 | ) | (131 | ) | (224 | ) | (537 | ) | |||||||||||
Defined benefit pension plan (2): | |||||||||||||||||||
Amortization of net loss and prior service costs | 382 | 918 | 1,134 | 2,661 | Employee benefits (Non-interest expense) | ||||||||||||||
Related income tax benefit | (140 | ) | (338 | ) | (418 | ) | (1,031 | ) | Provision for income taxes | ||||||||||
Net effect on accumulated other comprehensive income for the period | 242 | 580 | 716 | 1,630 | |||||||||||||||
Total reclassifications for the period | $ | (180 | ) | $ | 455 | $ | (33 | ) | $ | 1,018 | |||||||||
-1 | For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income see Note 3, “Securities.” | ||||||||||||||||||
-2 | Included in the computation of net periodic pension cost. See Note 5, “Pension Plan” for additional detail. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingent Liabilities | ' | ||||||||
NOTE 8. COMMITMENTS AND CONTINGENT LIABILITIES | |||||||||
Commitments — In the normal course of business, WesBanco offers off-balance sheet credit arrangements to enable its customers to meet their financing objectives. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. WesBanco’s exposure to credit losses in the event of non-performance by the other parties to the financial instruments for commitments to extend credit and standby letters of credit is limited to the contractual amount of those instruments. WesBanco uses the same credit policies in making commitments and conditional obligations as for all other lending. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The allowance for credit losses associated with commitments was $0.5 million and $0.6 million as of September 30, 2014 and December 31, 2013, respectively, and is included in other liabilities on the Consolidated Balance Sheets. | |||||||||
Letters of credit are conditional commitments issued by banks to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financing and similar transactions. Letters of credit are considered guarantees. The liability associated with letters of credit was immaterial as of September 30, 2014 and December 31, 2013. | |||||||||
Contingent obligations to purchase loans funded by other entities include affordable housing plan guarantees and credit card guarantees. Affordable housing plan guarantees are performance guarantees for various building project loans. The guarantee amortizes as the loan balances decrease. Credit card guarantees are credit card balances not owned by WesBanco, whereby the Bank guarantees the performance of the cardholder. | |||||||||
The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: | |||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Lines of credit | $ | 952,000 | $ | 964,777 | |||||
Loans approved but not closed | 132,024 | 73,937 | |||||||
Overdraft limits | 88,787 | 96,291 | |||||||
Letters of credit | 25,630 | 18,686 | |||||||
Contingent obligations to purchase loans funded by other entities | 6,774 | 6,327 | |||||||
Contingent Liabilities — WesBanco is a party to various legal and administrative proceedings and claims. While any litigation contains an element of uncertainty, management does not believe that a material loss related to such proceedings or claims pending or known to be threatened is reasonably possible. |
Business_Segments
Business Segments | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Business Segments | ' | ||||||||||||
NOTE 9. BUSINESS SEGMENTS | |||||||||||||
WesBanco operates two reportable segments: community banking as well as trust and investment services. WesBanco’s community banking segment offers services traditionally offered by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. The trust and investment services segment offers trust services as well as various mutual funds. The market value of assets managed or held in custody by the trust and investment services segment was approximately $3.8 billion and $3.5 billion at September 30, 2014 and 2013, respectively. These assets are held by WesBanco in fiduciary or agency capacities for their customers and therefore are not included as assets on WesBanco’s Consolidated Balance Sheets. | |||||||||||||
Condensed financial information by business segment is presented below: | |||||||||||||
(unaudited, in thousands) | Community | Trust and | Consolidated | ||||||||||
Banking | Investment | ||||||||||||
Services | |||||||||||||
For the Three Months ended September 30, 2014: | |||||||||||||
Interest income | $ | 54,303 | $ | — | $ | 54,303 | |||||||
Interest expense | 5,692 | — | 5,692 | ||||||||||
Net interest income | 48,611 | — | 48,611 | ||||||||||
Provision for credit losses | 1,478 | — | 1,478 | ||||||||||
Net interest income after provision for credit losses | 47,133 | — | 47,133 | ||||||||||
Non-interest income | 11,558 | 5,096 | 16,654 | ||||||||||
Non-interest expense | 36,292 | 2,971 | 39,263 | ||||||||||
Income before provision for income taxes | 22,399 | 2,125 | 24,524 | ||||||||||
Provision for income taxes | 5,508 | 850 | 6,358 | ||||||||||
Net income | $ | 16,891 | $ | 1,275 | $ | 18,166 | |||||||
For the Three Months ended September 30, 2013: | |||||||||||||
Interest income | $ | 54,317 | $ | — | $ | 54,317 | |||||||
Interest expense | 8,186 | — | 8,186 | ||||||||||
Net interest income | 46,131 | — | 46,131 | ||||||||||
Provision for credit losses | 2,819 | — | 2,819 | ||||||||||
Net interest income after provision for credit losses | 43,312 | — | 43,312 | ||||||||||
Non-interest income | 12,262 | 4,854 | 17,116 | ||||||||||
Non-interest expense | 37,011 | 2,998 | 40,009 | ||||||||||
Income before provision for income taxes | 18,563 | 1,856 | 20,419 | ||||||||||
Provision for income taxes | 4,141 | 743 | 4,884 | ||||||||||
Net income | $ | 14,422 | $ | 1,113 | $ | 15,535 | |||||||
For the Nine Months ended September 30, 2014: | |||||||||||||
Interest income | $ | 161,805 | $ | — | $ | 161,805 | |||||||
Interest expense | 17,562 | — | 17,562 | ||||||||||
Net interest income | 144,243 | — | 144,243 | ||||||||||
Provision for credit losses | 4,526 | — | 4,526 | ||||||||||
Net interest income after provision for credit losses | 139,717 | — | 139,717 | ||||||||||
Non-interest income | 35,990 | 15,954 | 51,944 | ||||||||||
Non-interest expense | 110,485 | 9,176 | 119,661 | ||||||||||
Income before provision for income taxes | 65,222 | 6,778 | 72,000 | ||||||||||
Provision for income taxes | 15,827 | 2,711 | 18,538 | ||||||||||
Net income | $ | 49,395 | $ | 4,067 | $ | 53,462 | |||||||
For the Nine Months ended September 30, 2013: | |||||||||||||
Interest income | $ | 163,634 | $ | — | $ | 163,634 | |||||||
Interest expense | 25,385 | — | 25,385 | ||||||||||
Net interest income | 138,249 | — | 138,249 | ||||||||||
Provision for credit losses | 5,942 | — | 5,942 | ||||||||||
Net interest income after provision for credit losses | 132,307 | — | 132,307 | ||||||||||
Non-interest income | 37,642 | 14,694 | 52,336 | ||||||||||
Non-interest expense | 111,384 | 8,872 | 120,256 | ||||||||||
Income before provision for income taxes | 58,565 | 5,822 | 64,387 | ||||||||||
Provision for income taxes | 13,486 | 2,329 | 15,815 | ||||||||||
Net income | $ | 45,079 | $ | 3,493 | $ | 48,572 | |||||||
Total non-fiduciary assets of the trust and investment services segment were $4.0 million and $3.3 million at September 30, 2014 and 2013, respectively. All goodwill and other intangible assets were allocated to the community banking segment. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
NOTE 10. SUBSEQUENT EVENTS | |
On October 29, 2014, WesBanco and ESB Financial Corporation (“ESB”), a Pennsylvania thrift holding company based in Ellwood City, Pennsylvania with $1.9 billion in assets and 23 branches, jointly announced that a definitive Agreement and Plan of Merger was executed providing for the merger of ESB with and into WesBanco. Under the terms of the Agreement and Plan of Merger, which has been unanimously approved by the board of directors of both companies, WesBanco will exchange a combination of its common stock and cash for ESB common stock. ESB shareholders will be entitled to receive 0.502 shares of WesBanco common stock and cash in the amount of $1.76 per share for each share of ESB common stock for a total value of approximately $17.65 per share. The receipt by ESB shareholders of shares of WesBanco common stock in exchange for their shares of ESB common stock is anticipated to qualify as a tax-free exchange. The transaction currently is valued at approximately $324.4 million, based on WesBanco’s 15 day average closing common stock price prior to announcement and ESB’s shares outstanding. The acquisition is subject to the approvals of the appropriate banking regulatory authorities and the shareholders of WesBanco and ESB. It is expected that the transaction will be completed in the first or second quarter of 2015. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of presentation | ' |
Basis of presentation — The accompanying unaudited interim financial statements of WesBanco, Inc. and its consolidated subsidiaries (“WesBanco”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013. | |
WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly WesBanco’s financial position and results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year. | |
Recent accounting pronouncements | ' |
Recent accounting pronouncements — In August 2014, the Financial Accounting Standards Board (the “FASB”) issued an Accounting Standards Update (“ASU”) (ASU 2014-14) related to the classification of certain government-guaranteed mortgage loans upon foreclosure. The amendments in this update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. However, the same method of transition as elected under ASU 2014-04 must be applied. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. | |
In June 2014, the FASB issued an accounting pronouncement (ASU 2014-11) related to repurchase-to-maturity transactions, repurchase financing and disclosures. The pronouncement changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The pronouncement also requires two new disclosures. The first disclosure requires an entity to disclose information on transfers accounted for as sales in transactions that are economically similar to repurchase agreements. The second disclosure provides increased transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is not permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. | |
In May 2014, the FASB issued an accounting pronouncement (ASU 2014-09) related to the recognition of revenue from contracts with customers. The new revenue pronouncement creates a single source of revenue guidance for all companies in all industries and is more principles-based than current revenue guidance. The pronouncement provides a five-step model for a company to recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The five steps are (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the separate performance obligations and (5) recognize revenue when each performance obligation is satisfied. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016 using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. Early adoption is not permitted. WesBanco is currently evaluating the impact of the adoption of this pronouncement on its Consolidated Financial Statements. | |
In January 2014, the FASB issued an accounting pronouncement (ASU 2014-04) related to in-substance repossessions and foreclosures. The pronouncement clarifies when an in-substance repossession or foreclosure occurs. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The pronouncement is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014 and may be adopted under either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on WesBanco’s Consolidated Financial Statements. | |
In January 2014, the FASB issued an accounting pronouncement (ASU 2014-01) which applies to all reporting entities that invest in qualified affordable housing projects through limited liability entities. The pronouncement permits reporting entities to make an accounting policy election to account for these investments using the proportional amortization method if certain conditions exist. The pronouncement also requires disclosure that enables users of its financial statements to understand the nature of these investments. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The pronouncement should be applied retrospectively for all periods presented, effective for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The adoption of this pronouncement is not expected to have a material impact on WesBanco’s Consolidated Financial Statements. |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Summary of Earnings Per Common Share | ' | ||||||||||||||||
Earnings per common share are calculated as follows: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(unaudited, in thousands, except shares and per share amounts) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator for both basic and diluted earnings per common share: | |||||||||||||||||
Net income | $ | 18,166 | $ | 15,535 | $ | 53,462 | $ | 48,572 | |||||||||
Denominator: | |||||||||||||||||
Total average basic common shares outstanding | 29,280,648 | 29,325,128 | 29,235,364 | 29,260,967 | |||||||||||||
Effect of dilutive stock options and warrant | 80,232 | 87,330 | 81,550 | 67,338 | |||||||||||||
Total diluted average common shares outstanding | 29,360,880 | 29,412,458 | 29,316,914 | 29,328,305 | |||||||||||||
Earnings per common share - basic | $ | 0.62 | $ | 0.53 | $ | 1.83 | $ | 1.66 | |||||||||
Earnings per common share - diluted | $ | 0.62 | $ | 0.53 | $ | 1.82 | $ | 1.66 | |||||||||
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the fair value and amortized cost of available-for-sale and held-to-maturity securities: | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Amortized | Gross | Gross | Estimated | Amortized | Gross | Gross | Estimated | |||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Obligations of government agencies | $ | 80,769 | $ | 430 | $ | (677 | ) | $ | 80,522 | $ | 75,164 | $ | 6 | $ | (1,938 | ) | $ | 73,232 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 736,497 | 3,069 | (11,150 | ) | 728,416 | 707,000 | 3,191 | (15,924 | ) | 694,267 | |||||||||||||||||||||||||||
Obligations of states and political subdivisions | 97,137 | 5,573 | (15 | ) | 102,695 | 112,536 | 4,165 | (355 | ) | 116,346 | |||||||||||||||||||||||||||
Corporate debt securities | 36,723 | 248 | (179 | ) | 36,792 | 38,777 | 174 | (470 | ) | 38,481 | |||||||||||||||||||||||||||
Total debt securities | $ | 951,126 | $ | 9,320 | $ | (12,021 | ) | $ | 948,425 | $ | 933,477 | $ | 7,536 | $ | (18,687 | ) | $ | 922,326 | |||||||||||||||||||
Equity securities | 10,492 | 644 | (8 | ) | 11,128 | 10,597 | 1,463 | — | 12,060 | ||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 961,618 | $ | 9,964 | $ | (12,029 | ) | $ | 959,553 | $ | 944,074 | $ | 8,999 | $ | (18,687 | ) | $ | 934,386 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | $ | 83,632 | $ | 3,221 | $ | (507 | ) | $ | 86,346 | $ | 99,409 | $ | 2,804 | $ | (1,023 | ) | $ | 101,190 | |||||||||||||||||||
Obligations of states and political subdivisions | 505,486 | 21,589 | (1,786 | ) | 525,289 | 496,396 | 10,158 | (13,906 | ) | 492,648 | |||||||||||||||||||||||||||
Corporate debt securities | 5,742 | 39 | (84 | ) | 5,697 | 2,715 | — | (245 | ) | 2,470 | |||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 594,860 | $ | 24,849 | $ | (2,377 | ) | $ | 617,332 | $ | 598,520 | $ | 12,962 | $ | (15,174 | ) | $ | 596,308 | |||||||||||||||||||
Total securities | $ | 1,556,478 | $ | 34,813 | $ | (14,406 | ) | $ | 1,576,885 | $ | 1,542,594 | $ | 21,961 | $ | (33,861 | ) | $ | 1,530,694 | |||||||||||||||||||
Schedule of Fair Value of Available-for-sale and Held-to-maturity Securities by Contractual Maturity | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the fair value of available-for-sale and held-to-maturity securities by contractual maturity at September 30, 2014. In some instances, the issuers may have the right to call or prepay obligations without penalty prior to the contractual maturity date. | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | One Year | One to | Five to | After | Mortgage-backed | Total | |||||||||||||||||||||||||||||||
or less | Five Years | Ten Years | Ten Years | and Equity | |||||||||||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||||||||||||||
Obligations of government agencies | $ | — | $ | 17,056 | $ | 44,812 | $ | 18,654 | $ | — | $ | 80,522 | |||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) | — | — | — | — | 728,416 | 728,416 | |||||||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,799 | 39,840 | 20,649 | 35,407 | — | 102,695 | |||||||||||||||||||||||||||||||
Corporate debt securities | 14,034 | 5,865 | 12,069 | 4,824 | — | 36,792 | |||||||||||||||||||||||||||||||
Equity securities (2) | — | — | — | — | 11,128 | 11,128 | |||||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 20,833 | $ | 62,761 | $ | 77,530 | $ | 58,885 | $ | 739,544 | $ | 959,553 | |||||||||||||||||||||||||
Held-to-maturity (3) | |||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) | $ | — | $ | — | $ | — | $ | — | $ | 86,346 | $ | 86,346 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 2,725 | 10,650 | 200,258 | 311,656 | — | 525,289 | |||||||||||||||||||||||||||||||
Corporate debt securities | — | — | 5,697 | — | — | 5,697 | |||||||||||||||||||||||||||||||
Total held-to-maturity securities | $ | 2,725 | $ | 10,650 | $ | 205,955 | $ | 311,656 | $ | 86,346 | $ | 617,332 | |||||||||||||||||||||||||
Total securities | $ | 23,558 | $ | 73,411 | $ | 283,485 | $ | 370,541 | $ | 825,890 | $ | 1,576,885 | |||||||||||||||||||||||||
-1 | Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. | ||||||||||||||||||||||||||||||||||||
-2 | Equity securities, which have no stated maturity, are not assigned a maturity category. | ||||||||||||||||||||||||||||||||||||
(3) | The held-to-maturity portfolio is carried at an amortized cost of $594.9 million. | ||||||||||||||||||||||||||||||||||||
Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the gross realized gains and losses on sales and calls of securities for the three and nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
Gross realized gains | $ | 602 | $ | 5 | $ | 967 | $ | 881 | |||||||||||||||||||||||||||||
Gross realized losses | (21 | ) | (20 | ) | (211 | ) | (194 | ) | |||||||||||||||||||||||||||||
Net realized gains (losses) | $ | 581 | $ | (15 | ) | $ | 756 | $ | 687 | ||||||||||||||||||||||||||||
Schedule of Unrealized Losses on Investment Securities | ' | ||||||||||||||||||||||||||||||||||||
The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | |||||||||||||||||||||||||||||
Obligations of government agencies | $ | 22,192 | $ | (139 | ) | 7 | $ | 19,457 | $ | (538 | ) | 4 | $ | 41,649 | $ | (677 | ) | 11 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 306,257 | (2,585 | ) | 55 | 237,876 | (9,072 | ) | 43 | 544,133 | (11,657 | ) | 98 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 13,160 | (90 | ) | 16 | 79,954 | (1,711 | ) | 130 | 93,114 | (1,801 | ) | 146 | |||||||||||||||||||||||||
Corporate debt securities | 5,955 | (45 | ) | 2 | 4,490 | (218 | ) | 2 | 10,445 | (263 | ) | 4 | |||||||||||||||||||||||||
Equity securities | 281 | (8 | ) | 1 | — | — | — | 281 | (8 | ) | 1 | ||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 347,845 | $ | (2,867 | ) | 81 | $ | 341,777 | $ | (11,539 | ) | 179 | $ | 689,622 | $ | (14,406 | ) | 260 | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Fair | Unrealized | # of | Fair | Unrealized | # of | Fair | Unrealized | # of | ||||||||||||||||||||||||||||
Value | Losses | Securities | Value | Losses | Securities | Value | Losses | Securities | |||||||||||||||||||||||||||||
Obligations of government agencies | $ | 54,356 | $ | (1,911 | ) | 15 | $ | 5,083 | $ | (27 | ) | 2 | $ | 59,439 | $ | (1,938 | ) | 17 | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 513,495 | (14,639 | ) | 89 | 37,002 | (2,308 | ) | 11 | 550,497 | (16,947 | ) | 100 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 181,667 | (10,830 | ) | 277 | 47,793 | (3,431 | ) | 76 | 229,460 | (14,261 | ) | 353 | |||||||||||||||||||||||||
Corporate debt securities | 19,837 | (560 | ) | 7 | 2,845 | (155 | ) | 1 | 22,682 | (715 | ) | 8 | |||||||||||||||||||||||||
Total temporarily impaired securities | $ | 769,355 | $ | (27,940 | ) | 388 | $ | 92,723 | $ | (5,921 | ) | 90 | $ | 862,078 | $ | (33,861 | ) | 478 | |||||||||||||||||||
Loans_and_the_Allowance_for_Cr1
Loans and the Allowance for Credit Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Recorded Investment in Loans by Category | ' | ||||||||||||||||||||||||||||||||
The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs of $2.6 million and $2.7 million at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 235,249 | $ | 263,117 | |||||||||||||||||||||||||||||
Improved property | 1,738,087 | 1,649,802 | |||||||||||||||||||||||||||||||
Total commercial real estate | 1,973,336 | 1,912,919 | |||||||||||||||||||||||||||||||
Commercial and industrial | 603,245 | 556,249 | |||||||||||||||||||||||||||||||
Residential real estate | 909,531 | 890,804 | |||||||||||||||||||||||||||||||
Home equity | 313,711 | 284,687 | |||||||||||||||||||||||||||||||
Consumer | 231,881 | 250,258 | |||||||||||||||||||||||||||||||
Total portfolio loans | 4,031,704 | 3,894,917 | |||||||||||||||||||||||||||||||
Loans held for sale | 6,260 | 5,855 | |||||||||||||||||||||||||||||||
Total loans | $ | 4,037,964 | $ | 3,900,772 | |||||||||||||||||||||||||||||
Summary of Changes in Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||||||
The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: | |||||||||||||||||||||||||||||||||
Allowance for Credit Losses By Category | |||||||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 and 2013 | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Residential | Home | Consumer | Deposit | Total | |||||||||||||||||||||||||
Real Estate - | Real Estate - | & Industrial | Real Estate | Equity | Overdraft | ||||||||||||||||||||||||||||
Land and | Improved | ||||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
Balance at December 31, 2013: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 6,056 | $ | 18,157 | $ | 9,925 | $ | 5,673 | $ | 2,017 | $ | 5,020 | $ | 520 | $ | 47,368 | |||||||||||||||||
Allowance for loan commitments | 301 | 62 | 130 | 5 | 85 | 19 | — | 602 | |||||||||||||||||||||||||
Total beginning allowance for credit losses | 6,357 | 18,219 | 10,055 | 5,678 | 2,102 | 5,039 | 520 | 47,970 | |||||||||||||||||||||||||
Provision for credit losses: | |||||||||||||||||||||||||||||||||
Provision for loan losses | (812 | ) | (403 | ) | 1,357 | 1,867 | 860 | 1,066 | 660 | 4,595 | |||||||||||||||||||||||
Provision for loan commitments | (35 | ) | (42 | ) | (6 | ) | 1 | 12 | 1 | — | (69 | ) | |||||||||||||||||||||
Total provision for credit losses | (847 | ) | (445 | ) | 1,351 | 1,868 | 872 | 1,067 | 660 | 4,526 | |||||||||||||||||||||||
Charge-offs | — | (1,696 | ) | (2,632 | ) | (2,025 | ) | (591 | ) | (2,326 | ) | (577 | ) | (9,847 | ) | ||||||||||||||||||
Recoveries | — | 457 | 1,058 | 339 | 94 | 782 | 183 | 2,913 | |||||||||||||||||||||||||
Net charge-offs | — | (1,239 | ) | (1,574 | ) | (1,686 | ) | (497 | ) | (1,544 | ) | (394 | ) | (6,934 | ) | ||||||||||||||||||
Balance at September 30, 2014: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | 5,244 | 16,515 | 9,708 | 5,854 | 2,380 | 4,542 | 786 | 45,029 | |||||||||||||||||||||||||
Allowance for loan commitments | 266 | 20 | 124 | 6 | 97 | 20 | — | 533 | |||||||||||||||||||||||||
Total ending allowance for credit losses | $ | 5,510 | $ | 16,535 | $ | 9,832 | $ | 5,860 | $ | 2,477 | $ | 4,562 | $ | 786 | $ | 45,562 | |||||||||||||||||
Balance at December 31, 2012: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | $ | 3,741 | $ | 23,614 | $ | 9,326 | $ | 7,182 | $ | 2,458 | $ | 5,557 | $ | 821 | $ | 52,699 | |||||||||||||||||
Allowance for loan commitments | 27 | 25 | 215 | 6 | 49 | 19 | — | 341 | |||||||||||||||||||||||||
Total beginning allowance for credit losses | 3,768 | 23,639 | 9,541 | 7,188 | 2,507 | 5,576 | 821 | 53,040 | |||||||||||||||||||||||||
Provision for credit losses: | |||||||||||||||||||||||||||||||||
Provision for loan losses | 1,179 | 3,066 | (561 | ) | 459 | (61 | ) | 1,457 | 373 | 5,912 | |||||||||||||||||||||||
Provision for loan commitments | 57 | (1 | ) | (64 | ) | — | 37 | 1 | — | 30 | |||||||||||||||||||||||
Total provision for credit losses | 1,236 | 3,065 | (625 | ) | 459 | (24 | ) | 1,458 | 373 | 5,942 | |||||||||||||||||||||||
Charge-offs | (526 | ) | (5,651 | ) | (1,264 | ) | (2,092 | ) | (508 | ) | (3,018 | ) | (666 | ) | (13,725 | ) | |||||||||||||||||
Recoveries | 125 | 482 | 407 | 250 | 108 | 887 | 197 | 2,456 | |||||||||||||||||||||||||
Net charge-offs | (401 | ) | (5,169 | ) | (857 | ) | (1,842 | ) | (400 | ) | (2,131 | ) | (469 | ) | (11,269 | ) | |||||||||||||||||
Balance at September 30, 2013: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | 4,519 | 21,511 | 7,908 | 5,799 | 1,997 | 4,883 | 725 | 47,342 | |||||||||||||||||||||||||
Allowance for loan commitments | 84 | 24 | 151 | 6 | 86 | 20 | — | 371 | |||||||||||||||||||||||||
Total ending allowance for credit losses | $ | 4,603 | $ | 21,535 | $ | 8,059 | $ | 5,805 | $ | 2,083 | $ | 4,903 | $ | 725 | $ | 47,713 | |||||||||||||||||
Allowance for Credit Losses and Recorded Investment in Loans | ' | ||||||||||||||||||||||||||||||||
The following tables present the allowance for credit losses and recorded investment in loans by category: | |||||||||||||||||||||||||||||||||
Allowance for Credit Losses and Recorded Investment in Loans | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Residential | Home | Consumer | Over-draft | Total | |||||||||||||||||||||||||
Real Estate- | Real Estate- | and Industrial | Real Estate | Equity | |||||||||||||||||||||||||||||
Land and | Improved | ||||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||
Allowance for loans individually evaluated for impairment | $ | — | $ | 57 | $ | 1,026 | $ | — | $ | — | $ | — | $ | — | $ | 1,083 | |||||||||||||||||
Allowance for loans collectively evaluated for impairment | 5,244 | 16,458 | 8,682 | 5,854 | 2,380 | 4,542 | 786 | 43,946 | |||||||||||||||||||||||||
Allowance for loan commitments | 266 | 20 | 124 | 6 | 97 | 20 | — | 533 | |||||||||||||||||||||||||
Total allowance for credit losses | $ | 5,510 | $ | 16,535 | $ | 9,832 | $ | 5,860 | $ | 2,477 | $ | 4,562 | $ | 786 | $ | 45,562 | |||||||||||||||||
Portfolio loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ | — | $ | 8,592 | $ | 3,015 | $ | — | $ | — | $ | — | $ | — | $ | 11,607 | |||||||||||||||||
Collectively evaluated for impairment | 235,249 | 1,729,495 | 600,230 | 909,531 | 313,711 | 231,881 | — | 4,020,097 | |||||||||||||||||||||||||
Total portfolio loans | $ | 235,249 | $ | 1,738,087 | $ | 603,245 | $ | 909,531 | $ | 313,711 | $ | 231,881 | $ | — | $ | 4,031,704 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Allowance for credit losses: | |||||||||||||||||||||||||||||||||
Allowance for loans individually evaluated for impairment | $ | — | $ | 51 | $ | 681 | $ | — | $ | — | $ | — | $ | — | $ | 732 | |||||||||||||||||
Allowance for loans collectively evaluated for impairment | 6,056 | 18,106 | 9,244 | 5,673 | 2,017 | 5,020 | 520 | 46,636 | |||||||||||||||||||||||||
Allowance for loan commitments | 301 | 62 | 130 | 5 | 85 | 19 | — | 602 | |||||||||||||||||||||||||
Total allowance for credit losses | $ | 6,357 | $ | 18,219 | $ | 10,055 | $ | 5,678 | $ | 2,102 | $ | 5,039 | $ | 520 | $ | 47,970 | |||||||||||||||||
Portfolio loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ | — | $ | 4,321 | $ | 1,754 | $ | — | $ | — | $ | — | $ | — | $ | 6,075 | |||||||||||||||||
Collectively evaluated for impairment | 263,117 | 1,645,481 | 554,495 | 890,804 | 284,687 | 250,258 | — | 3,888,842 | |||||||||||||||||||||||||
Total portfolio loans | $ | 263,117 | $ | 1,649,802 | $ | 556,249 | $ | 890,804 | $ | 284,687 | $ | 250,258 | $ | — | $ | 3,894,917 | |||||||||||||||||
(1) | Commercial loans greater than $1 million that are reported as non-accrual or as a troubled debt restructuring (“TDR”) are individually evaluated for impairment. | ||||||||||||||||||||||||||||||||
Summary of Commercial Loans by Risk Grade | ' | ||||||||||||||||||||||||||||||||
The following tables summarize commercial loans by their assigned risk grade: | |||||||||||||||||||||||||||||||||
Commerical Loans by Internally Assigned Risk Grade | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Commercial | Commercial | Commercial | Total | |||||||||||||||||||||||||||||
Real Estate- | Real Estate- | & Industrial | Commercial | ||||||||||||||||||||||||||||||
Land and | Improved | Loans | |||||||||||||||||||||||||||||||
Construction | Property | ||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||
Pass | $ | 227,987 | $ | 1,680,289 | $ | 580,748 | $ | 2,489,024 | |||||||||||||||||||||||||
Criticized - compromised | 5,499 | 19,783 | 14,271 | 39,553 | |||||||||||||||||||||||||||||
Classified - substandard | 1,763 | 38,015 | 8,192 | 47,970 | |||||||||||||||||||||||||||||
Classified - doubtful | — | — | 34 | 34 | |||||||||||||||||||||||||||||
Total | $ | 235,249 | $ | 1,738,087 | $ | 603,245 | $ | 2,576,581 | |||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||
Pass | $ | 253,231 | $ | 1,548,780 | $ | 531,573 | $ | 2,333,584 | |||||||||||||||||||||||||
Criticized - compromised | 6,498 | 57,983 | 10,768 | 75,249 | |||||||||||||||||||||||||||||
Classified - substandard | 3,388 | 43,039 | 13,908 | 60,335 | |||||||||||||||||||||||||||||
Classified - doubtful | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 263,117 | $ | 1,649,802 | $ | 556,249 | $ | 2,469,168 | |||||||||||||||||||||||||
Summary of Age Analysis of Loan Categories | ' | ||||||||||||||||||||||||||||||||
The following tables summarize the age analysis of all categories of loans: | |||||||||||||||||||||||||||||||||
Age Analysis of Loans | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Current | 30-59 | 60-89 | 90 Days | Total | Total Loans | 90 Days or | ||||||||||||||||||||||||||
Days | Days | or More | Past Due | More | |||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due and | ||||||||||||||||||||||||||||||
Accruing (1) | |||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 233,591 | $ | 140 | $ | 233 | $ | 1,285 | $ | 1,658 | $ | 235,249 | $ | — | |||||||||||||||||||
Improved property | 1,720,260 | 2,531 | 4,911 | 10,385 | 17,827 | 1,738,087 | — | ||||||||||||||||||||||||||
Total commercial real estate | 1,953,851 | 2,671 | 5,144 | 11,670 | 19,485 | 1,973,336 | — | ||||||||||||||||||||||||||
Commercial and industrial | 598,791 | 334 | 1,320 | 2,800 | 4,454 | 603,245 | 86 | ||||||||||||||||||||||||||
Residential real estate | 897,554 | 1,121 | 2,347 | 8,509 | 11,977 | 909,531 | 1,826 | ||||||||||||||||||||||||||
Home equity | 309,672 | 1,727 | 479 | 1,833 | 4,039 | 313,711 | 852 | ||||||||||||||||||||||||||
Consumer | 228,342 | 2,464 | 527 | 548 | 3,539 | 231,881 | 383 | ||||||||||||||||||||||||||
Total portfolio loans | 3,988,210 | 8,317 | 9,817 | 25,360 | 43,494 | 4,031,704 | 3,147 | ||||||||||||||||||||||||||
Loans held for sale | 6,260 | — | — | — | — | 6,260 | — | ||||||||||||||||||||||||||
Total loans | $ | 3,994,470 | $ | 8,317 | $ | 9,817 | $ | 25,360 | $ | 43,494 | $ | 4,037,964 | $ | 3,147 | |||||||||||||||||||
Impaired loans included above are as follows: | |||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 7,723 | $ | 893 | $ | 6,113 | $ | 22,042 | $ | 29,048 | $ | 36,771 | |||||||||||||||||||||
TDRs accruing interest (1) | 11,668 | 174 | 209 | 171 | 554 | 12,222 | |||||||||||||||||||||||||||
Total impaired | $ | 19,391 | $ | 1,067 | $ | 6,322 | $ | 22,213 | $ | 29,602 | $ | 48,993 | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 261,165 | $ | 2 | $ | — | $ | 1,950 | $ | 1,952 | $ | 263,117 | $ | 248 | |||||||||||||||||||
Improved property | 1,632,973 | 2,482 | 2,346 | 12,001 | 16,829 | 1,649,802 | 318 | ||||||||||||||||||||||||||
Total commercial real estate | 1,894,138 | 2,484 | 2,346 | 13,951 | 18,781 | 1,912,919 | 566 | ||||||||||||||||||||||||||
Commercial and industrial | 552,414 | 1,112 | 977 | 1,746 | 3,835 | 556,249 | — | ||||||||||||||||||||||||||
Residential real estate | 875,192 | 1,641 | 4,710 | 9,261 | 15,612 | 890,804 | 1,289 | ||||||||||||||||||||||||||
Home equity | 281,004 | 1,581 | 470 | 1,632 | 3,683 | 284,687 | 411 | ||||||||||||||||||||||||||
Consumer | 245,876 | 3,223 | 649 | 510 | 4,382 | 250,258 | 325 | ||||||||||||||||||||||||||
Total portfolio loans | 3,848,624 | 10,041 | 9,152 | 27,100 | 46,293 | 3,894,917 | 2,591 | ||||||||||||||||||||||||||
Loans held for sale | 5,855 | — | — | — | — | 5,855 | — | ||||||||||||||||||||||||||
Total loans | $ | 3,854,479 | $ | 10,041 | $ | 9,152 | $ | 27,100 | $ | 46,293 | $ | 3,900,772 | $ | 2,591 | |||||||||||||||||||
Impaired loans included above are as follows: | |||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 9,028 | $ | 588 | $ | 2,722 | $ | 24,295 | $ | 27,605 | $ | 36,633 | |||||||||||||||||||||
TDRs accruing interest (1) | 13,595 | 171 | 881 | 214 | 1,266 | 14,861 | |||||||||||||||||||||||||||
Total impaired | $ | 22,623 | $ | 759 | $ | 3,603 | $ | 24,509 | $ | 28,871 | $ | 51,494 | |||||||||||||||||||||
-1 | Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. | ||||||||||||||||||||||||||||||||
Summary of Impaired Loans | ' | ||||||||||||||||||||||||||||||||
The following tables summarize impaired loans: | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Unpaid | Recorded | Related | Unpaid | Recorded | Related | |||||||||||||||||||||||||||
Principal | Investment | Allowance | Principal | Investment | Allowance | ||||||||||||||||||||||||||||
Balance (1) | Balance (1) | ||||||||||||||||||||||||||||||||
With no related specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,647 | $ | 1,547 | $ | — | $ | 2,663 | $ | 2,564 | $ | — | |||||||||||||||||||||
Improved property | 18,361 | 16,888 | — | 21,421 | 19,628 | — | |||||||||||||||||||||||||||
Commercial and industrial | 4,192 | 3,714 | — | 3,773 | 3,249 | — | |||||||||||||||||||||||||||
Residential real estate | 19,438 | 17,782 | — | 22,006 | 20,090 | — | |||||||||||||||||||||||||||
Home equity | 2,551 | 2,264 | — | 2,675 | 2,506 | — | |||||||||||||||||||||||||||
Consumer | 1,264 | 1,071 | — | 1,402 | 1,182 | — | |||||||||||||||||||||||||||
Total impaired loans without a specific allowance | 47,453 | 43,266 | — | 53,940 | 49,219 | — | |||||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Improved property | 3,812 | 3,812 | 57 | 729 | 729 | 51 | |||||||||||||||||||||||||||
Commercial and industrial | 1,915 | 1,915 | 1,026 | 1,546 | 1,546 | 681 | |||||||||||||||||||||||||||
Total impaired loans with a specific allowance | 5,727 | 5,727 | 1,083 | 2,275 | 2,275 | 732 | |||||||||||||||||||||||||||
Total impaired loans | $ | 53,180 | $ | 48,993 | $ | 1,083 | $ | 56,215 | $ | 51,494 | $ | 732 | |||||||||||||||||||||
-1 | The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off. | ||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||
(unaudited, in thousands) | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||
Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
With no related specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,749 | $ | 11 | $ | 4,181 | $ | — | $ | 2,099 | $ | 26 | $ | 5,049 | $ | 89 | |||||||||||||||||
Improved Property | 17,672 | 169 | 22,777 | 92 | 18,415 | 322 | 23,471 | 408 | |||||||||||||||||||||||||
Commercial and industrial | 4,071 | (2 | ) | 3,643 | 26 | 3,802 | 87 | 3,884 | 87 | ||||||||||||||||||||||||
Residential real estate | 18,337 | 219 | 19,487 | 217 | 18,900 | 610 | 19,872 | 582 | |||||||||||||||||||||||||
Home equity | 2,191 | 13 | 2,278 | 20 | 2,279 | 48 | 2,201 | 50 | |||||||||||||||||||||||||
Consumer | 1,087 | 26 | 1,361 | 28 | 1,131 | 72 | 1,425 | 77 | |||||||||||||||||||||||||
Total impaired loans without a specific allowance | 45,107 | 436 | 53,727 | 383 | 46,626 | 1,165 | 55,902 | 1,293 | |||||||||||||||||||||||||
With a specific allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | — | 1,500 | 6 | — | — | 1,543 | 28 | |||||||||||||||||||||||||
Improved Property | 2,269 | 109 | 2,765 | — | 1,499 | 113 | 3,251 | — | |||||||||||||||||||||||||
Commercial and industrial | 1,938 | 27 | — | — | 2,134 | 68 | — | — | |||||||||||||||||||||||||
Total impaired loans with a specific allowance | 4,207 | 136 | 4,265 | 6 | 3,633 | 181 | 4,794 | 28 | |||||||||||||||||||||||||
Total impaired loans | $ | 49,314 | $ | 572 | $ | 57,992 | $ | 389 | $ | 50,259 | $ | 1,346 | $ | 60,696 | $ | 1,321 | |||||||||||||||||
Recorded Investment in Non-Accrual Loans and TDRs | ' | ||||||||||||||||||||||||||||||||
The following tables present the recorded investment in non-accrual loans and TDRs: | |||||||||||||||||||||||||||||||||
Non-accrual Loans (1) | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | 1,547 | $ | 2,564 | |||||||||||||||||||||||||||||
Improved property | 18,206 | 17,305 | |||||||||||||||||||||||||||||||
Total commercial real estate | 19,753 | 19,869 | |||||||||||||||||||||||||||||||
Commercial and industrial | 5,432 | 4,380 | |||||||||||||||||||||||||||||||
Residential real estate | 9,404 | 10,240 | |||||||||||||||||||||||||||||||
Home equity | 1,499 | 1,604 | |||||||||||||||||||||||||||||||
Consumer | 683 | 540 | |||||||||||||||||||||||||||||||
Total | $ | 36,771 | $ | 36,633 | |||||||||||||||||||||||||||||
(1) | Total non-accrual loans include loans that are also restructured. Such loans are also set forth in the following table as non-accrual TDRs. | ||||||||||||||||||||||||||||||||
TDRs | |||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, in thousands) | Accruing | Non- | Total | Accruing | Non- | Total | |||||||||||||||||||||||||||
Accrual | Accrual | ||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | $ | — | $ | 466 | $ | 466 | $ | — | $ | 1,601 | $ | 1,601 | |||||||||||||||||||||
Improved property | 2,494 | 1,572 | 4,066 | 3,052 | 3,658 | 6,710 | |||||||||||||||||||||||||||
Total commercial real estate | 2,494 | 2,038 | 4,532 | 3,052 | 5,259 | 8,311 | |||||||||||||||||||||||||||
Commercial and industrial | 197 | 686 | 883 | 415 | 579 | 994 | |||||||||||||||||||||||||||
Residential real estate | 8,378 | 2,208 | 10,586 | 9,850 | 2,991 | 12,841 | |||||||||||||||||||||||||||
Home equity | 765 | 264 | 1,029 | 902 | 289 | 1,191 | |||||||||||||||||||||||||||
Consumer | 388 | 300 | 688 | 642 | 206 | 848 | |||||||||||||||||||||||||||
Total | $ | 12,222 | $ | 5,496 | $ | 17,718 | $ | 14,861 | $ | 9,324 | $ | 24,185 | |||||||||||||||||||||
Loans Identified as TDRs | ' | ||||||||||||||||||||||||||||||||
The following tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2014 and September 30, 2013, respectively: | |||||||||||||||||||||||||||||||||
New TDRs (1) | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||||||||||
Modifications | Modification | Modification | Modifications | Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | $ | — | 1 | $ | 66 | $ | 65 | |||||||||||||||||||||||
Improved Property | 2 | 475 | 465 | 1 | 49 | 49 | |||||||||||||||||||||||||||
Total commercial real estate | 2 | 475 | 465 | 2 | 115 | 114 | |||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 1 | 14 | 14 | |||||||||||||||||||||||||||
Residential real estate | 1 | 112 | 112 | 8 | 307 | 280 | |||||||||||||||||||||||||||
Home equity | 1 | 58 | 57 | 2 | 75 | 52 | |||||||||||||||||||||||||||
Consumer | 2 | 52 | 50 | 9 | 98 | 92 | |||||||||||||||||||||||||||
Total | 6 | $ | 697 | $ | 684 | 22 | $ | 609 | $ | 552 | |||||||||||||||||||||||
(1) | Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. | ||||||||||||||||||||||||||||||||
New TDRs (1) | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||||||||||
Modifications | Modification | Modification | Modifications | Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | $ | — | 2 | $ | 366 | $ | 359 | |||||||||||||||||||||||
Improved Property | 4 | 692 | 664 | 6 | 568 | 395 | |||||||||||||||||||||||||||
Total commercial real estate | 4 | 692 | 664 | 8 | 934 | 754 | |||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 7 | 164 | 161 | |||||||||||||||||||||||||||
Residential real estate | 5 | 286 | 278 | 24 | 2,180 | 2,094 | |||||||||||||||||||||||||||
Home equity | 1 | 59 | 57 | 3 | 91 | 64 | |||||||||||||||||||||||||||
Consumer | 12 | 191 | 163 | 13 | 143 | 120 | |||||||||||||||||||||||||||
Total | 22 | $ | 1,228 | $ | 1,162 | 55 | $ | 3,512 | $ | 3,193 | |||||||||||||||||||||||
(1) | Excludes loans that were either paid off or charged-off by period end. The pre-modification balance represents the balance outstanding at the beginning of the period. The post-modification balance represents the outstanding balance at period end. | ||||||||||||||||||||||||||||||||
TDRs Defaulted Later Restructured | ' | ||||||||||||||||||||||||||||||||
The following tables summarize TDRs which defaulted (defined as past due 90 days or more) during the three and nine months ended September 30, 2014 and 2013 that were restructured within the last twelve months prior to September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||
Defaulted TDRs (1) | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Improved property | — | — | — | — | |||||||||||||||||||||||||||||
Total commercial real estate | — | — | — | — | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | — | |||||||||||||||||||||||||||||
Residential real estate | — | — | 8 | 451 | |||||||||||||||||||||||||||||
Home equity | — | — | 1 | 20 | |||||||||||||||||||||||||||||
Consumer | — | — | 3 | 37 | |||||||||||||||||||||||||||||
Total | — | $ | — | 12 | $ | 508 | |||||||||||||||||||||||||||
(1) | Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
Defaulted TDRs (1) | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||
(unaudited, dollars in thousands) | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Land and construction | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Improved property | — | — | 1 | 45 | |||||||||||||||||||||||||||||
Total commercial real estate | — | — | 1 | 45 | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | 2 | 293 | |||||||||||||||||||||||||||||
Residential real estate | 1 | 45 | 24 | 1,624 | |||||||||||||||||||||||||||||
Home equity | — | — | 5 | 107 | |||||||||||||||||||||||||||||
Consumer | — | — | 3 | 37 | |||||||||||||||||||||||||||||
Total | 1 | $ | 45 | 35 | $ | 2,106 | |||||||||||||||||||||||||||
(1) | Excludes loans that were either charged-off or cured by period end. The recorded investment is as of September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
Summary of Other Real Estate Owned and Repossessed Assets | ' | ||||||||||||||||||||||||||||||||
The following table summarizes other real estate owned and repossessed assets included in other assets: | |||||||||||||||||||||||||||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Other real estate owned | $ | 4,505 | $ | 4,689 | |||||||||||||||||||||||||||||
Repossessed assets | 190 | 171 | |||||||||||||||||||||||||||||||
Total other real estate owned and repossessed assets | $ | 4,695 | $ | 4,860 | |||||||||||||||||||||||||||||
Pension_Plan_Tables
Pension Plan (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Components of Net Periodic Pension Cost | ' | ||||||||||||||||
The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: | |||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost - benefits earned during year | $ | 734 | $ | 742 | $ | 2,176 | $ | 2,398 | |||||||||
Interest cost on projected benefit obligation | 1,196 | 1,015 | 3,549 | 3,092 | |||||||||||||
Expected return on plan assets | (1,822 | ) | (1,485 | ) | (5,407 | ) | (4,525 | ) | |||||||||
Amortization of prior service cost | 11 | 11 | 33 | 34 | |||||||||||||
Amortization of net loss | 370 | 906 | 1,100 | 2,626 | |||||||||||||
Net periodic pension cost | $ | 489 | $ | 1,189 | $ | 1,451 | $ | 3,625 | |||||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ||||||||||||||||||||
The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||
(unaudited, in thousands) | September 30, | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
2014 | Active Markets | Observable | Unobservable | ||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Securities - available-for-sale | |||||||||||||||||||||
Obligations of government agencies | $ | 80,522 | $ | — | $ | 80,522 | $ | — | |||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 728,416 | — | 728,416 | — | |||||||||||||||||
Obligations of state and political subdivisions | 102,695 | — | 102,695 | — | |||||||||||||||||
Corporate debt securities | 36,792 | — | 36,792 | — | |||||||||||||||||
Equity securities | 11,128 | 9,197 | 1,931 | — | |||||||||||||||||
Total securities - available-for-sale | $ | 959,553 | $ | 9,197 | $ | 950,356 | $ | — | |||||||||||||
Total recurring fair value measurements | $ | 959,553 | $ | 9,197 | $ | 950,356 | $ | — | |||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||
Impaired loans | $ | 4,644 | $ | — | $ | — | $ | 4,644 | |||||||||||||
Other real estate owned and repossessed assets | 4,695 | — | — | 4,695 | |||||||||||||||||
Loans held for sale | 6,260 | — | 6,260 | — | |||||||||||||||||
Total nonrecurring fair value measurements | $ | 15,599 | $ | — | $ | 6,260 | $ | 9,339 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||||||
(unaudited, in thousands) | December 31, | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
2013 | Active Markets | Observable | Unobservable | ||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
Recurring fair value measurements | |||||||||||||||||||||
Securities - available-for-sale | |||||||||||||||||||||
Obligations of government agencies | $ | 73,232 | $ | — | $ | 73,232 | $ | — | |||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations of government agencies | 694,267 | — | 694,267 | — | |||||||||||||||||
Obligations of state and political subdivisions | 116,346 | — | 116,346 | — | |||||||||||||||||
Corporate debt securities | 38,481 | — | 38,481 | — | |||||||||||||||||
Equity securities | 12,060 | 9,962 | 2,098 | — | |||||||||||||||||
Total securities - available-for-sale | $ | 934,386 | $ | 9,962 | $ | 924,424 | $ | — | |||||||||||||
Total recurring fair value measurements | $ | 934,386 | $ | 9,962 | $ | 924,424 | $ | — | |||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||
Impaired loans | $ | 1,543 | $ | — | $ | — | $ | 1,543 | |||||||||||||
Other real estate owned and repossessed assets | 4,860 | — | — | 4,860 | |||||||||||||||||
Loans held for sale | 5,855 | — | 5,855 | — | |||||||||||||||||
Total nonrecurring fair value measurements | $ | 12,258 | $ | — | $ | 5,855 | $ | 6,403 | |||||||||||||
Schedule of Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
(unaudited, in thousands) | Fair Value | Valuation Techniques | Unobservable Input | Range / Weighted Average | |||||||||||||||||
Estimate | |||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||
Impaired loans | $ | 4,644 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to (36.9%) / (11.6%) | ||||||||||||||||
Liquidation expenses (2) | (1.0%) to (8.0%) / (7.2%) | ||||||||||||||||||||
Other real estate owned and repossessed assets | 4,695 | Appraisal of collateral (1), (3) | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Impaired loans | $ | 1,543 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to (29.1%) / (15.6%) | ||||||||||||||||
Liquidation expenses (2) | (3.5%) to (8.0%) / (4.7%) | ||||||||||||||||||||
Other real estate owned and repossessed assets | 4,860 | Appraisal of collateral (1), (3) | |||||||||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. | ||||||||||||||||||||
(2) | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. | ||||||||||||||||||||
(3) | Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. | ||||||||||||||||||||
Estimates Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of WesBanco’s financial instruments are summarized below: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(unaudited in thousands) | Carrying | Fair Value | Quoted Prices in | Significant Other | Significant | ||||||||||||||||
Amount | Estimate | Active Markets | Observable | Unobservable | |||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets (level 1) | (level 2) | (level 3) | |||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and due from banks | $ | 76,419 | $ | 76,419 | $ | 76,419 | $ | — | $ | — | |||||||||||
Securities available-for-sale | 959,553 | 959,553 | 9,197 | 950,356 | — | ||||||||||||||||
Securities held-to-maturity | 594,860 | 617,332 | — | 616,589 | 743 | ||||||||||||||||
Net loans | 3,986,675 | 3,945,722 | — | — | 3,945,722 | ||||||||||||||||
Loans held for sale | 6,260 | 6,260 | — | 6,260 | — | ||||||||||||||||
Accrued interest receivable | 20,032 | 20,032 | 20,032 | — | — | ||||||||||||||||
Bank-owned life insurance | 122,678 | 122,678 | 122,678 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 5,101,685 | 5,110,555 | 3,743,378 | 1,367,177 | — | ||||||||||||||||
Federal Home Loan Bank borrowings | 123,374 | 125,749 | — | 125,749 | — | ||||||||||||||||
Other borrowings | 117,637 | 117,640 | 114,222 | 3,418 | — | ||||||||||||||||
Junior subordinated debt | 106,166 | 80,080 | — | 80,080 | — | ||||||||||||||||
Accrued interest payable | 2,103 | 2,103 | 2,103 | — | — | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial Assets | |||||||||||||||||||||
Cash and due from banks | $ | 95,551 | $ | 95,551 | $ | 95,551 | $ | — | $ | — | |||||||||||
Securities available-for-sale | 934,386 | 934,386 | 9,962 | 924,424 | — | ||||||||||||||||
Securities held-to-maturity | 598,520 | 596,308 | — | 595,581 | 727 | ||||||||||||||||
Net loans | 3,847,549 | 3,754,465 | — | — | 3,754,465 | ||||||||||||||||
Loans held for sale | 5,855 | 5,855 | — | 5,855 | — | ||||||||||||||||
Accrued interest receivable | 18,960 | 18,960 | 18,960 | — | — | ||||||||||||||||
Bank-owned life insurance | 121,390 | 121,390 | 121,390 | — | — | ||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Deposits | 5,062,530 | 5,076,207 | 3,551,052 | 1,525,155 | — | ||||||||||||||||
Federal Home Loan Bank borrowings | 39,508 | 42,314 | — | 42,314 | — | ||||||||||||||||
Other borrowings | 150,536 | 153,015 | 104,196 | 48,819 | — | ||||||||||||||||
Junior subordinated debt | 106,137 | 74,038 | — | 74,038 | — | ||||||||||||||||
Accrued interest payable | 2,354 | 2,354 | 2,354 | — | — |
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||
Components of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||
The activity in accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013 is as follows: | |||||||||||||||||||
Accumulated Other Comprehensive Income (1) | |||||||||||||||||||
(unaudited, in thousands) | Defined | Unrealized Gains | Unrealized Gains | Total | |||||||||||||||
Benefit | (Losses) on | on Securities | |||||||||||||||||
Pension | Securities | Transferred | |||||||||||||||||
Plan | Available-for-Sale | from Available- | |||||||||||||||||
for-Sale to | |||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||
Balance at December 31, 2013 | $ | (7,966 | ) | $ | (6,126 | ) | $ | 1,358 | $ | (12,734 | ) | ||||||||
Other comprehensive income before reclassifications | — | 5,344 | — | 5,344 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive income | 716 | (525 | ) | (224 | ) | (33 | ) | ||||||||||||
Period change | 716 | 4,819 | (224 | ) | 5,311 | ||||||||||||||
Balance at September 30, 2014 | $ | (7,250 | ) | $ | (1,307 | ) | $ | 1,134 | $ | (7,423 | ) | ||||||||
Balance at December 31, 2012 | $ | (21,401 | ) | $ | 13,032 | $ | 2,004 | $ | (6,365 | ) | |||||||||
Other comprehensive income before reclassifications | — | (13,095 | ) | — | (13,095 | ) | |||||||||||||
Amounts reclassified from accumulated other comprehensive income | 1,630 | (75 | ) | (537 | ) | 1,018 | |||||||||||||
Period change | 1,630 | (13,170 | ) | (537 | ) | (12,077 | ) | ||||||||||||
Balance at September 30, 2013 | $ | (19,771 | ) | $ | (138 | ) | $ | 1,467 | $ | (18,442 | ) | ||||||||
(1) | All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 36.5%. | ||||||||||||||||||
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | ' | ||||||||||||||||||
The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2014 and 2013: | |||||||||||||||||||
Details about Accumulated Other Comprehensive | For the Three Months Ended | For the Nine Months Ended | Affected Line Item in the | ||||||||||||||||
Income Components | September 30, | September 30, | Statement of Net Income | ||||||||||||||||
(unaudited, in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Securities available-for-sale (1): | |||||||||||||||||||
Net securities (gains)/losses reclassified into earnings | $ | (583 | ) | $ | 10 | $ | (831 | ) | $ | (119 | ) | Net securities gains (Non-interest income) | |||||||
Related income tax expense/(benefit) | 214 | (4 | ) | 306 | 44 | Provision for income taxes | |||||||||||||
Net effect on accumulated other comprehensive income for the period | (369 | ) | 6 | (525 | ) | (75 | ) | ||||||||||||
Securities held-to-maturity (1): | |||||||||||||||||||
Amortization of unrealized gain transferred from available-for-sale | (84 | ) | (207 | ) | (354 | ) | (857 | ) | Interest and dividends on securities (Interest and dividend income) | ||||||||||
Related income tax expense | 31 | 76 | 130 | 320 | Provision for income taxes | ||||||||||||||
Net effect on accumulated other comprehensive income for the period | (53 | ) | (131 | ) | (224 | ) | (537 | ) | |||||||||||
Defined benefit pension plan (2): | |||||||||||||||||||
Amortization of net loss and prior service costs | 382 | 918 | 1,134 | 2,661 | Employee benefits (Non-interest expense) | ||||||||||||||
Related income tax benefit | (140 | ) | (338 | ) | (418 | ) | (1,031 | ) | Provision for income taxes | ||||||||||
Net effect on accumulated other comprehensive income for the period | 242 | 580 | 716 | 1,630 | |||||||||||||||
Total reclassifications for the period | $ | (180 | ) | $ | 455 | $ | (33 | ) | $ | 1,018 | |||||||||
-1 | For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income see Note 3, “Securities.” | ||||||||||||||||||
-2 | Included in the computation of net periodic pension cost. See Note 5, “Pension Plan” for additional detail. |
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding | ' | ||||||||
The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: | |||||||||
(unaudited, in thousands) | September 30, | December 31, | |||||||
2014 | 2013 | ||||||||
Lines of credit | $ | 952,000 | $ | 964,777 | |||||
Loans approved but not closed | 132,024 | 73,937 | |||||||
Overdraft limits | 88,787 | 96,291 | |||||||
Letters of credit | 25,630 | 18,686 | |||||||
Contingent obligations to purchase loans funded by other entities | 6,774 | 6,327 |
Business_Segments_Tables
Business Segments (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Financial Information by Business Segment | ' | ||||||||||||
Condensed financial information by business segment is presented below: | |||||||||||||
(unaudited, in thousands) | Community | Trust and | Consolidated | ||||||||||
Banking | Investment | ||||||||||||
Services | |||||||||||||
For the Three Months ended September 30, 2014: | |||||||||||||
Interest income | $ | 54,303 | $ | — | $ | 54,303 | |||||||
Interest expense | 5,692 | — | 5,692 | ||||||||||
Net interest income | 48,611 | — | 48,611 | ||||||||||
Provision for credit losses | 1,478 | — | 1,478 | ||||||||||
Net interest income after provision for credit losses | 47,133 | — | 47,133 | ||||||||||
Non-interest income | 11,558 | 5,096 | 16,654 | ||||||||||
Non-interest expense | 36,292 | 2,971 | 39,263 | ||||||||||
Income before provision for income taxes | 22,399 | 2,125 | 24,524 | ||||||||||
Provision for income taxes | 5,508 | 850 | 6,358 | ||||||||||
Net income | $ | 16,891 | $ | 1,275 | $ | 18,166 | |||||||
For the Three Months ended September 30, 2013: | |||||||||||||
Interest income | $ | 54,317 | $ | — | $ | 54,317 | |||||||
Interest expense | 8,186 | — | 8,186 | ||||||||||
Net interest income | 46,131 | — | 46,131 | ||||||||||
Provision for credit losses | 2,819 | — | 2,819 | ||||||||||
Net interest income after provision for credit losses | 43,312 | — | 43,312 | ||||||||||
Non-interest income | 12,262 | 4,854 | 17,116 | ||||||||||
Non-interest expense | 37,011 | 2,998 | 40,009 | ||||||||||
Income before provision for income taxes | 18,563 | 1,856 | 20,419 | ||||||||||
Provision for income taxes | 4,141 | 743 | 4,884 | ||||||||||
Net income | $ | 14,422 | $ | 1,113 | $ | 15,535 | |||||||
For the Nine Months ended September 30, 2014: | |||||||||||||
Interest income | $ | 161,805 | $ | — | $ | 161,805 | |||||||
Interest expense | 17,562 | — | 17,562 | ||||||||||
Net interest income | 144,243 | — | 144,243 | ||||||||||
Provision for credit losses | 4,526 | — | 4,526 | ||||||||||
Net interest income after provision for credit losses | 139,717 | — | 139,717 | ||||||||||
Non-interest income | 35,990 | 15,954 | 51,944 | ||||||||||
Non-interest expense | 110,485 | 9,176 | 119,661 | ||||||||||
Income before provision for income taxes | 65,222 | 6,778 | 72,000 | ||||||||||
Provision for income taxes | 15,827 | 2,711 | 18,538 | ||||||||||
Net income | $ | 49,395 | $ | 4,067 | $ | 53,462 | |||||||
For the Nine Months ended September 30, 2013: | |||||||||||||
Interest income | $ | 163,634 | $ | — | $ | 163,634 | |||||||
Interest expense | 25,385 | — | 25,385 | ||||||||||
Net interest income | 138,249 | — | 138,249 | ||||||||||
Provision for credit losses | 5,942 | — | 5,942 | ||||||||||
Net interest income after provision for credit losses | 132,307 | — | 132,307 | ||||||||||
Non-interest income | 37,642 | 14,694 | 52,336 | ||||||||||
Non-interest expense | 111,384 | 8,872 | 120,256 | ||||||||||
Income before provision for income taxes | 58,565 | 5,822 | 64,387 | ||||||||||
Provision for income taxes | 13,486 | 2,329 | 15,815 | ||||||||||
Net income | $ | 45,079 | $ | 3,493 | $ | 48,572 | |||||||
Earnings_Per_Common_Share_Summ
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Numerator for both basic and diluted earnings per common share: | ' | ' | ' | ' |
Net income | $18,166 | $15,535 | $53,462 | $48,572 |
Denominator: | ' | ' | ' | ' |
Total average basic common shares outstanding | 29,280,648 | 29,325,128 | 29,235,364 | 29,260,967 |
Effect of dilutive stock options and warrant | 80,232 | 87,330 | 81,550 | 67,338 |
Total diluted average common shares outstanding | 29,360,880 | 29,412,458 | 29,316,914 | 29,328,305 |
Earnings per common share - basic | $0.62 | $0.53 | $1.83 | $1.66 |
Earnings per common share - diluted | $0.62 | $0.53 | $1.82 | $1.66 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Detail) (Stock Option [Member]) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Stock Option [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Stock options excluded from computation of diluted earnings per share | 45,701 | 73,536 |
Securities_Schedule_of_Fair_Va
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | $961,618 | $944,074 |
Available-for-sale, Gross Unrealized Gains | 9,964 | 8,999 |
Available-for-sale, Gross Unrealized Losses | -12,029 | -18,687 |
Available-for-sale, Estimated Fair Value | 959,553 | 934,386 |
Held-to-maturity, Amortized Cost | 594,860 | 598,520 |
Held-to-maturity, Gross Unrealized Gains | 24,849 | 12,962 |
Held-to-maturity, Gross Unrealized Losses | -2,377 | -15,174 |
Held-to-maturity securities, Fair value | 617,332 | 596,308 |
Total securities, Amortized Cost | 1,556,478 | 1,542,594 |
Total securities, Gross Unrealized Gains | 34,813 | 21,961 |
Total securities, Gross Unrealized Losses | -14,406 | -33,861 |
Total securities, Estimated Fair Value | 1,576,885 | 1,530,694 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 736,497 | 707,000 |
Available-for-sale, Gross Unrealized Gains | 3,069 | 3,191 |
Available-for-sale, Gross Unrealized Losses | -11,150 | -15,924 |
Available-for-sale, Estimated Fair Value | 728,416 | 694,267 |
Held-to-maturity, Amortized Cost | 83,632 | 99,409 |
Held-to-maturity, Gross Unrealized Gains | 3,221 | 2,804 |
Held-to-maturity, Gross Unrealized Losses | -507 | -1,023 |
Held-to-maturity securities, Fair value | 86,346 | 101,190 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 97,137 | 112,536 |
Available-for-sale, Gross Unrealized Gains | 5,573 | 4,165 |
Available-for-sale, Gross Unrealized Losses | -15 | -355 |
Available-for-sale, Estimated Fair Value | 102,695 | 116,346 |
Held-to-maturity, Amortized Cost | 505,486 | 496,396 |
Held-to-maturity, Gross Unrealized Gains | 21,589 | 10,158 |
Held-to-maturity, Gross Unrealized Losses | -1,786 | -13,906 |
Held-to-maturity securities, Fair value | 525,289 | 492,648 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 36,723 | 38,777 |
Available-for-sale, Gross Unrealized Gains | 248 | 174 |
Available-for-sale, Gross Unrealized Losses | -179 | -470 |
Available-for-sale, Estimated Fair Value | 36,792 | 38,481 |
Held-to-maturity, Amortized Cost | 5,742 | 2,715 |
Held-to-maturity, Gross Unrealized Gains | 39 | ' |
Held-to-maturity, Gross Unrealized Losses | -84 | -245 |
Held-to-maturity securities, Fair value | 5,697 | 2,470 |
Obligations of Government Agencies [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 80,769 | 75,164 |
Available-for-sale, Gross Unrealized Gains | 430 | 6 |
Available-for-sale, Gross Unrealized Losses | -677 | -1,938 |
Available-for-sale, Estimated Fair Value | 80,522 | 73,232 |
Debt Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 951,126 | 933,477 |
Available-for-sale, Gross Unrealized Gains | 9,320 | 7,536 |
Available-for-sale, Gross Unrealized Losses | -12,021 | -18,687 |
Available-for-sale, Estimated Fair Value | 948,425 | 922,326 |
Equity Securities [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-sale, Amortized Cost | 10,492 | 10,597 |
Available-for-sale, Gross Unrealized Gains | 644 | 1,463 |
Available-for-sale, Gross Unrealized Losses | -8 | ' |
Available-for-sale, Estimated Fair Value | $11,128 | $12,060 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Holdings | Holdings | |||
Amortized Cost and Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Maximum percentage of equity of one issuer | 10.00% | ' | ' | ' |
Number of holdings greater than specified percentage of equity | 0 | ' | 0 | ' |
Securities with aggregate fair values | $721,800,000 | ' | $701,700,000 | ' |
Proceeds from sale of available-for-sale securities | 4,819,000 | 9,265,000 | ' | ' |
Net unrealized losses on available-for-sale securities included in AOCI | -1,307,000 | -138,000 | -6,126,000 | 13,032,000 |
Impaired loss relating to securities | 0 | ' | ' | ' |
Federal home loan bank stock, Total | $15,000,000 | ' | $11,600,000 | ' |
Securities_Schedule_of_Fair_Va1
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, One Year or less | $20,833 | ' |
Total available-for-sale securities, One to Five Years | 62,761 | ' |
Total available-for-sale securities, Five to Ten Years | 77,530 | ' |
Total available-for-sale securities, After Ten Years | 58,885 | ' |
Total available-for-sale securities, Mortgage-backed and Equity | 739,544 | ' |
Available-for-sale, Estimated Fair Value | 959,553 | 934,386 |
Total held-to-maturity securities, One Year or less | 2,725 | ' |
Total held-to-maturity securities, One to Five Years | 10,650 | ' |
Total held-to-maturity securities, Five to Ten Years | 205,955 | ' |
Total held-to-maturity securities, After Ten Years | 311,656 | ' |
Total held-to-maturity securities, Mortgage-backed and Equity | 86,346 | ' |
Held-to-maturity securities, Fair value | 617,332 | 596,308 |
Total securities, One Year or less | 23,558 | ' |
Total securities, One to Five Years | 73,411 | ' |
Total securities, Five to Ten Years | 283,485 | ' |
Total securities, After Ten Years, Fair value | 370,541 | ' |
Total securities, Mortgage- backed and Equity | 825,890 | ' |
Total securities, Fair value | 1,576,885 | ' |
Obligations of Government Agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, One to Five Years | 17,056 | ' |
Total available-for-sale securities, Five to Ten Years | 44,812 | ' |
Total available-for-sale securities, After Ten Years | 18,654 | ' |
Available-for-sale, Estimated Fair Value | 80,522 | 73,232 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, Mortgage-backed and Equity | 728,416 | ' |
Available-for-sale, Estimated Fair Value | 728,416 | 694,267 |
Total held-to-maturity securities, Mortgage-backed and Equity | 86,346 | ' |
Held-to-maturity securities, Fair value | 86,346 | 101,190 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, One Year or less | 6,799 | ' |
Total available-for-sale securities, One to Five Years | 39,840 | ' |
Total available-for-sale securities, Five to Ten Years | 20,649 | ' |
Total available-for-sale securities, After Ten Years | 35,407 | ' |
Available-for-sale, Estimated Fair Value | 102,695 | 116,346 |
Total held-to-maturity securities, One Year or less | 2,725 | ' |
Total held-to-maturity securities, One to Five Years | 10,650 | ' |
Total held-to-maturity securities, Five to Ten Years | 200,258 | ' |
Total held-to-maturity securities, After Ten Years | 311,656 | ' |
Held-to-maturity securities, Fair value | 525,289 | 492,648 |
Corporate Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, One Year or less | 14,034 | ' |
Total available-for-sale securities, One to Five Years | 5,865 | ' |
Total available-for-sale securities, Five to Ten Years | 12,069 | ' |
Total available-for-sale securities, After Ten Years | 4,824 | ' |
Available-for-sale, Estimated Fair Value | 36,792 | 38,481 |
Total held-to-maturity securities, Five to Ten Years | 5,697 | ' |
Held-to-maturity securities, Fair value | 5,697 | 2,470 |
Equity Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Total available-for-sale securities, Mortgage-backed and Equity | 11,128 | ' |
Available-for-sale, Estimated Fair Value | $11,128 | $12,060 |
Securities_Schedule_of_Fair_Va2
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost and Fair Value Debt Securities [Abstract] | ' | ' |
Held-to-maturity, Amortized Cost | $594,860 | $598,520 |
Securities_Schedule_of_Gross_R
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Securities Gross Realized Gain Loss [Abstract] | ' | ' | ' | ' |
Gross realized gains | $602 | $5 | $967 | $881 |
Gross realized losses | -21 | -20 | -211 | -194 |
Net realized gains (losses) | $581 | ($15) | $756 | $687 |
Securities_Schedule_of_Unreali
Securities - Schedule of Unrealized Losses on Investment Securities (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Security | Security |
Obligations of Government Agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | $22,192 | $54,356 |
Less than 12 months, Unrealized Losses | -139 | -1,911 |
Less than 12 months, Number of Securities | 7 | 15 |
12 months or more, Fair Value | 19,457 | 5,083 |
12 months or more, Unrealized Losses | -538 | -27 |
12 months or more, Number of Securities | 4 | 2 |
Fair Value, Total | 41,649 | 59,439 |
Unrealized Losses, Total | -677 | -1,938 |
Number of Securities Total | 11 | 17 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | 306,257 | 513,495 |
Less than 12 months, Unrealized Losses | -2,585 | -14,639 |
Less than 12 months, Number of Securities | 55 | 89 |
12 months or more, Fair Value | 237,876 | 37,002 |
12 months or more, Unrealized Losses | -9,072 | -2,308 |
12 months or more, Number of Securities | 43 | 11 |
Fair Value, Total | 544,133 | 550,497 |
Unrealized Losses, Total | -11,657 | -16,947 |
Number of Securities Total | 98 | 100 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | 13,160 | 181,667 |
Less than 12 months, Unrealized Losses | -90 | -10,830 |
Less than 12 months, Number of Securities | 16 | 277 |
12 months or more, Fair Value | 79,954 | 47,793 |
12 months or more, Unrealized Losses | -1,711 | -3,431 |
12 months or more, Number of Securities | 130 | 76 |
Fair Value, Total | 93,114 | 229,460 |
Unrealized Losses, Total | -1,801 | -14,261 |
Number of Securities Total | 146 | 353 |
Corporate Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | 5,955 | 19,837 |
Less than 12 months, Unrealized Losses | -45 | -560 |
Less than 12 months, Number of Securities | 2 | 7 |
12 months or more, Fair Value | 4,490 | 2,845 |
12 months or more, Unrealized Losses | -218 | -155 |
12 months or more, Number of Securities | 2 | 1 |
Fair Value, Total | 10,445 | 22,682 |
Unrealized Losses, Total | -263 | -715 |
Number of Securities Total | 4 | 8 |
Total Temporarily Impaired Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | 347,845 | 769,355 |
Less than 12 months, Unrealized Losses | -2,867 | -27,940 |
Less than 12 months, Number of Securities | 81 | 388 |
12 months or more, Fair Value | 341,777 | 92,723 |
12 months or more, Unrealized Losses | -11,539 | -5,921 |
12 months or more, Number of Securities | 179 | 90 |
Fair Value, Total | 689,622 | 862,078 |
Unrealized Losses, Total | -14,406 | -33,861 |
Number of Securities Total | 260 | 478 |
Equity Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ' | ' |
Less than 12 months, Fair Value | 281 | ' |
Less than 12 months, Unrealized Losses | -8 | ' |
Less than 12 months, Number of Securities | 1 | ' |
Fair Value, Total | 281 | ' |
Unrealized Losses, Total | ($8) | ' |
Number of Securities Total | 1 | ' |
Loans_and_the_Allowance_for_Cr2
Loans and the Allowance for Credit Losses - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Contract | ||
SecurityLoan | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Deferred loan fees and costs | $2,600,000 | $2,700,000 |
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 14,600,000 | 14,400,000 |
Internally assigned loan grades to residential real estate, home equity and consumer loans | 3,100,000 | 2,000,000 |
Non-accrual status period | '90 days | ' |
Number of restructured contracts greater than $1 million | 0 | ' |
Accruing and non accrual TDR permitted interest-only payment period | '3 months | ' |
Percentage of TDRs defaulted during the period that were restructured within the last twelve months | 0.30% | ' |
Loans with accruing interest | 0 | ' |
Other real estate owned | 4,505,000 | 4,689,000 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Other real estate owned | 500,000 | 300,000 |
Foreclosure proceedings in process on residential real estate loans | $5,100,000 | ' |
Loans_and_the_Allowance_for_Cr3
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | $4,031,704 | $3,894,917 |
Loans held for sale | 6,260 | 5,855 |
Total loans | 4,037,964 | 3,900,772 |
Commercial Real Estate - Land and Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 235,249 | 263,117 |
Commercial Real Estate - Improved Property [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 1,738,087 | 1,649,802 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 1,973,336 | 1,912,919 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 603,245 | 556,249 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 909,531 | 890,804 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | 313,711 | 284,687 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total portfolio loans | $231,881 | $250,258 |
Loans_and_the_Allowance_for_Cr4
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | $47,368 | $52,699 |
Allowance for loan commitments, beginning balance | ' | ' | 602 | 341 |
Total beginning allowance for credit losses | ' | ' | 47,970 | 53,040 |
Provision for loan losses | ' | ' | 4,595 | 5,912 |
Provision for loan commitments | ' | ' | -69 | 30 |
Total provision for credit losses | 1,478 | 2,819 | 4,526 | 5,942 |
Charge-offs | ' | ' | -9,847 | -13,725 |
Recoveries | ' | ' | 2,913 | 2,456 |
Net charge-offs | ' | ' | -6,934 | -11,269 |
Allowance for loan losses, ending balance | 45,029 | 47,342 | 45,029 | 47,342 |
Allowance for loan commitments, ending balance | 533 | 371 | 533 | 371 |
Total ending allowance for credit losses | 45,562 | 47,713 | 45,562 | 47,713 |
Commercial Real Estate - Land and Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 6,056 | 3,741 |
Allowance for loan commitments, beginning balance | ' | ' | 301 | 27 |
Total beginning allowance for credit losses | ' | ' | 6,357 | 3,768 |
Provision for loan losses | ' | ' | -812 | 1,179 |
Provision for loan commitments | ' | ' | -35 | 57 |
Total provision for credit losses | ' | ' | -847 | 1,236 |
Charge-offs | ' | ' | ' | -526 |
Recoveries | ' | ' | ' | 125 |
Net charge-offs | ' | ' | ' | -401 |
Allowance for loan losses, ending balance | 5,244 | 4,519 | 5,244 | 4,519 |
Allowance for loan commitments, ending balance | 266 | 84 | 266 | 84 |
Total ending allowance for credit losses | 5,510 | 4,603 | 5,510 | 4,603 |
Commercial Real Estate - Improved Property [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 18,157 | 23,614 |
Allowance for loan commitments, beginning balance | ' | ' | 62 | 25 |
Total beginning allowance for credit losses | ' | ' | 18,219 | 23,639 |
Provision for loan losses | ' | ' | -403 | 3,066 |
Provision for loan commitments | ' | ' | -42 | -1 |
Total provision for credit losses | ' | ' | -445 | 3,065 |
Charge-offs | ' | ' | -1,696 | -5,651 |
Recoveries | ' | ' | 457 | 482 |
Net charge-offs | ' | ' | -1,239 | -5,169 |
Allowance for loan losses, ending balance | 16,515 | 21,511 | 16,515 | 21,511 |
Allowance for loan commitments, ending balance | 20 | 24 | 20 | 24 |
Total ending allowance for credit losses | 16,535 | 21,535 | 16,535 | 21,535 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 9,925 | 9,326 |
Allowance for loan commitments, beginning balance | ' | ' | 130 | 215 |
Total beginning allowance for credit losses | ' | ' | 10,055 | 9,541 |
Provision for loan losses | ' | ' | 1,357 | -561 |
Provision for loan commitments | ' | ' | -6 | -64 |
Total provision for credit losses | ' | ' | 1,351 | -625 |
Charge-offs | ' | ' | -2,632 | -1,264 |
Recoveries | ' | ' | 1,058 | 407 |
Net charge-offs | ' | ' | -1,574 | -857 |
Allowance for loan losses, ending balance | 9,708 | 7,908 | 9,708 | 7,908 |
Allowance for loan commitments, ending balance | 124 | 151 | 124 | 151 |
Total ending allowance for credit losses | 9,832 | 8,059 | 9,832 | 8,059 |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 5,673 | 7,182 |
Allowance for loan commitments, beginning balance | ' | ' | 5 | 6 |
Total beginning allowance for credit losses | ' | ' | 5,678 | 7,188 |
Provision for loan losses | ' | ' | 1,867 | 459 |
Provision for loan commitments | ' | ' | 1 | ' |
Total provision for credit losses | ' | ' | 1,868 | 459 |
Charge-offs | ' | ' | -2,025 | -2,092 |
Recoveries | ' | ' | 339 | 250 |
Net charge-offs | ' | ' | -1,686 | -1,842 |
Allowance for loan losses, ending balance | 5,854 | 5,799 | 5,854 | 5,799 |
Allowance for loan commitments, ending balance | 6 | 6 | 6 | 6 |
Total ending allowance for credit losses | 5,860 | 5,805 | 5,860 | 5,805 |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 2,017 | 2,458 |
Allowance for loan commitments, beginning balance | ' | ' | 85 | 49 |
Total beginning allowance for credit losses | ' | ' | 2,102 | 2,507 |
Provision for loan losses | ' | ' | 860 | -61 |
Provision for loan commitments | ' | ' | 12 | 37 |
Total provision for credit losses | ' | ' | 872 | -24 |
Charge-offs | ' | ' | -591 | -508 |
Recoveries | ' | ' | 94 | 108 |
Net charge-offs | ' | ' | -497 | -400 |
Allowance for loan losses, ending balance | 2,380 | 1,997 | 2,380 | 1,997 |
Allowance for loan commitments, ending balance | 97 | 86 | 97 | 86 |
Total ending allowance for credit losses | 2,477 | 2,083 | 2,477 | 2,083 |
Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 5,020 | 5,557 |
Allowance for loan commitments, beginning balance | ' | ' | 19 | 19 |
Total beginning allowance for credit losses | ' | ' | 5,039 | 5,576 |
Provision for loan losses | ' | ' | 1,066 | 1,457 |
Provision for loan commitments | ' | ' | 1 | 1 |
Total provision for credit losses | ' | ' | 1,067 | 1,458 |
Charge-offs | ' | ' | -2,326 | -3,018 |
Recoveries | ' | ' | 782 | 887 |
Net charge-offs | ' | ' | -1,544 | -2,131 |
Allowance for loan losses, ending balance | 4,542 | 4,883 | 4,542 | 4,883 |
Allowance for loan commitments, ending balance | 20 | 20 | 20 | 20 |
Total ending allowance for credit losses | 4,562 | 4,903 | 4,562 | 4,903 |
Deposit Overdraft [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, beginning balance | ' | ' | 520 | 821 |
Total beginning allowance for credit losses | ' | ' | 520 | 821 |
Provision for loan losses | ' | ' | 660 | 373 |
Total provision for credit losses | ' | ' | 660 | 373 |
Charge-offs | ' | ' | -577 | -666 |
Recoveries | ' | ' | 183 | 197 |
Net charge-offs | ' | ' | -394 | -469 |
Allowance for loan losses, ending balance | 786 | 725 | 786 | 725 |
Total ending allowance for credit losses | $786 | $725 | $786 | $725 |
Loans_and_the_Allowance_for_Cr5
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investment in Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans individually evaluated for impairment | $1,083 | $732 | ' | ' |
Allowance for loans collectively evaluated for impairment | 43,946 | 46,636 | ' | ' |
Allowance for loan commitments | 533 | 602 | 371 | 341 |
Total allowance for credit losses | 45,562 | 47,970 | 47,713 | 53,040 |
Individually evaluated for impairment | 11,607 | 6,075 | ' | ' |
Collectively evaluated for impairment | 4,020,097 | 3,888,842 | ' | ' |
Total Loans | 4,031,704 | 3,894,917 | ' | ' |
Commercial Real Estate - Land and Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans collectively evaluated for impairment | 5,244 | 6,056 | ' | ' |
Allowance for loan commitments | 266 | 301 | 84 | 27 |
Total allowance for credit losses | 5,510 | 6,357 | 4,603 | 3,768 |
Collectively evaluated for impairment | 235,249 | 263,117 | ' | ' |
Total Loans | 235,249 | 263,117 | ' | ' |
Commercial Real Estate - Improved Property [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans individually evaluated for impairment | 57 | 51 | ' | ' |
Allowance for loans collectively evaluated for impairment | 16,458 | 18,106 | ' | ' |
Allowance for loan commitments | 20 | 62 | 24 | 25 |
Total allowance for credit losses | 16,535 | 18,219 | 21,535 | 23,639 |
Individually evaluated for impairment | 8,592 | 4,321 | ' | ' |
Collectively evaluated for impairment | 1,729,495 | 1,645,481 | ' | ' |
Total Loans | 1,738,087 | 1,649,802 | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans individually evaluated for impairment | 1,026 | 681 | ' | ' |
Allowance for loans collectively evaluated for impairment | 8,682 | 9,244 | ' | ' |
Allowance for loan commitments | 124 | 130 | 151 | 215 |
Total allowance for credit losses | 9,832 | 10,055 | 8,059 | 9,541 |
Individually evaluated for impairment | 3,015 | 1,754 | ' | ' |
Collectively evaluated for impairment | 600,230 | 554,495 | ' | ' |
Total Loans | 603,245 | 556,249 | ' | ' |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans collectively evaluated for impairment | 5,854 | 5,673 | ' | ' |
Allowance for loan commitments | 6 | 5 | 6 | 6 |
Total allowance for credit losses | 5,860 | 5,678 | 5,805 | 7,188 |
Collectively evaluated for impairment | 909,531 | 890,804 | ' | ' |
Total Loans | 909,531 | 890,804 | ' | ' |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans collectively evaluated for impairment | 2,380 | 2,017 | ' | ' |
Allowance for loan commitments | 97 | 85 | 86 | 49 |
Total allowance for credit losses | 2,477 | 2,102 | 2,083 | 2,507 |
Collectively evaluated for impairment | 313,711 | 284,687 | ' | ' |
Total Loans | 313,711 | 284,687 | ' | ' |
Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans collectively evaluated for impairment | 4,542 | 5,020 | ' | ' |
Allowance for loan commitments | 20 | 19 | 20 | 19 |
Total allowance for credit losses | 4,562 | 5,039 | 4,903 | 5,576 |
Collectively evaluated for impairment | 231,881 | 250,258 | ' | ' |
Total Loans | 231,881 | 250,258 | ' | ' |
Deposit Overdraft [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for loans collectively evaluated for impairment | 786 | 520 | ' | ' |
Total allowance for credit losses | $786 | $520 | $725 | $821 |
Loans_and_the_Allowance_for_Cr6
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investment in Loans (Parenthetical) (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Receivables [Abstract] | ' |
Trouble debt restructuring threshold | $1 |
Loans_and_the_Allowance_for_Cr7
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | $2,576,581 | $2,469,168 |
Pass [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 2,489,024 | 2,333,584 |
Criticized - Compromised [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 39,553 | 75,249 |
Classified - Substandard [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 47,970 | 60,335 |
Classified - Doubtful [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 34 | ' |
Commercial Real Estate - Land and Construction [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 235,249 | 263,117 |
Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 227,987 | 253,231 |
Commercial Real Estate - Land and Construction [Member] | Criticized - Compromised [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 5,499 | 6,498 |
Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 1,763 | 3,388 |
Commercial Real Estate - Improved Property [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 1,738,087 | 1,649,802 |
Commercial Real Estate - Improved Property [Member] | Pass [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 1,680,289 | 1,548,780 |
Commercial Real Estate - Improved Property [Member] | Criticized - Compromised [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 19,783 | 57,983 |
Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 38,015 | 43,039 |
Commercial and Industrial [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 603,245 | 556,249 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 580,748 | 531,573 |
Commercial and Industrial [Member] | Criticized - Compromised [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 14,271 | 10,768 |
Commercial and Industrial [Member] | Classified - Substandard [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | 8,192 | 13,908 |
Commercial and Industrial [Member] | Classified - Doubtful [Member] | ' | ' |
Summary of commercial loans by risk grade | ' | ' |
Commercial loans | $34 | ' |
Loans_and_the_Allowance_for_Cr8
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | $3,988,210 | $3,848,624 |
30-59 Days Past Due | 8,317 | 10,041 |
60-89 Days Past Due | 9,817 | 9,152 |
90 Days or More Past Due | 25,360 | 27,100 |
Total Past Due | 43,494 | 46,293 |
Total Loans | 4,031,704 | 3,894,917 |
90 Days or More Past Due and Accruing | 3,147 | 2,591 |
Loans held for sale, Current | 6,260 | 5,855 |
Loans held for sale | 6,260 | 5,855 |
Total loans, current | 3,994,470 | 3,854,479 |
Total loans | 4,037,964 | 3,900,772 |
Commercial Real Estate - Land and Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 233,591 | 261,165 |
30-59 Days Past Due | 140 | 2 |
60-89 Days Past Due | 233 | ' |
90 Days or More Past Due | 1,285 | 1,950 |
Total Past Due | 1,658 | 1,952 |
Total Loans | 235,249 | 263,117 |
90 Days or More Past Due and Accruing | ' | 248 |
Commercial Real Estate - Improved Property [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 1,720,260 | 1,632,973 |
30-59 Days Past Due | 2,531 | 2,482 |
60-89 Days Past Due | 4,911 | 2,346 |
90 Days or More Past Due | 10,385 | 12,001 |
Total Past Due | 17,827 | 16,829 |
Total Loans | 1,738,087 | 1,649,802 |
90 Days or More Past Due and Accruing | ' | 318 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 1,953,851 | 1,894,138 |
30-59 Days Past Due | 2,671 | 2,484 |
60-89 Days Past Due | 5,144 | 2,346 |
90 Days or More Past Due | 11,670 | 13,951 |
Total Past Due | 19,485 | 18,781 |
Total Loans | 1,973,336 | 1,912,919 |
90 Days or More Past Due and Accruing | ' | 566 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 598,791 | 552,414 |
30-59 Days Past Due | 334 | 1,112 |
60-89 Days Past Due | 1,320 | 977 |
90 Days or More Past Due | 2,800 | 1,746 |
Total Past Due | 4,454 | 3,835 |
Total Loans | 603,245 | 556,249 |
90 Days or More Past Due and Accruing | 86 | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 897,554 | 875,192 |
30-59 Days Past Due | 1,121 | 1,641 |
60-89 Days Past Due | 2,347 | 4,710 |
90 Days or More Past Due | 8,509 | 9,261 |
Total Past Due | 11,977 | 15,612 |
Total Loans | 909,531 | 890,804 |
90 Days or More Past Due and Accruing | 1,826 | 1,289 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 309,672 | 281,004 |
30-59 Days Past Due | 1,727 | 1,581 |
60-89 Days Past Due | 479 | 470 |
90 Days or More Past Due | 1,833 | 1,632 |
Total Past Due | 4,039 | 3,683 |
Total Loans | 313,711 | 284,687 |
90 Days or More Past Due and Accruing | 852 | 411 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 228,342 | 245,876 |
30-59 Days Past Due | 2,464 | 3,223 |
60-89 Days Past Due | 527 | 649 |
90 Days or More Past Due | 548 | 510 |
Total Past Due | 3,539 | 4,382 |
Total Loans | 231,881 | 250,258 |
90 Days or More Past Due and Accruing | 383 | 325 |
Non-Accrual Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 7,723 | 9,028 |
30-59 Days Past Due | 893 | 588 |
60-89 Days Past Due | 6,113 | 2,722 |
90 Days or More Past Due | 22,042 | 24,295 |
Total Past Due | 29,048 | 27,605 |
Total Loans | 36,771 | 36,633 |
TDRs Accruing Interest [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 11,668 | 13,595 |
30-59 Days Past Due | 174 | 171 |
60-89 Days Past Due | 209 | 881 |
90 Days or More Past Due | 171 | 214 |
Total Past Due | 554 | 1,266 |
Total Loans | 12,222 | 14,861 |
Total Impaired [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Current | 19,391 | 22,623 |
30-59 Days Past Due | 1,067 | 759 |
60-89 Days Past Due | 6,322 | 3,603 |
90 Days or More Past Due | 22,213 | 24,509 |
Total Past Due | 29,602 | 28,871 |
Total Loans | $48,993 | $51,494 |
Loans_and_the_Allowance_for_Cr9
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Receivables [Abstract] | ' |
Past due loans excluded TDRs past due and accruing | '90 days |
Recovered_Sheet1
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | $47,453 | $53,940 | $47,453 | $53,940 |
Total impaired loans,Un paid principal balance | 53,180 | 56,215 | 53,180 | 56,215 |
Recorded Investment,With no specific allowance recorded | 43,266 | 49,219 | 43,266 | 49,219 |
Total impaired loans,Recorded investment | 48,993 | 51,494 | 48,993 | 51,494 |
Unpaid Principal Balance,With a specific allowance recorded | 5,727 | 2,275 | 5,727 | 2,275 |
Recorded Investment,With a specific allowance recorded | 5,727 | 2,275 | 5,727 | 2,275 |
Related Allowance,With a specific allowance recorded | 1,083 | 732 | 1,083 | 732 |
Average recorded investment, with no related specific allowance | 45,107 | 53,727 | 46,626 | 55,902 |
Interest income recognized,With no related specific allowance | 436 | 383 | 1,165 | 1,293 |
Average recorded investment,With a specific allowance recorded | 4,207 | 4,265 | 3,633 | 4,794 |
Interest income recognized,With a specific allowance recorded | 136 | 6 | 181 | 28 |
Total impaired loans,Average recorded investment | 49,314 | 57,992 | 50,259 | 60,696 |
Total impaired loans,Interest income recognized | 572 | 389 | 1,346 | 1,321 |
Commercial Real Estate - Land and Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 1,647 | 2,663 | 1,647 | 2,663 |
Recorded Investment,With no specific allowance recorded | 1,547 | 2,564 | 1,547 | 2,564 |
Average recorded investment, with no related specific allowance | 1,749 | 4,181 | 2,099 | 5,049 |
Interest income recognized,With no related specific allowance | 11 | ' | 26 | 89 |
Average recorded investment,With a specific allowance recorded | ' | 1,500 | ' | 1,543 |
Interest income recognized,With a specific allowance recorded | ' | 6 | ' | 28 |
Commercial Real Estate - Improved Property [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 18,361 | 21,421 | 18,361 | 21,421 |
Recorded Investment,With no specific allowance recorded | 16,888 | 19,628 | 16,888 | 19,628 |
Unpaid Principal Balance,With a specific allowance recorded | 3,812 | 729 | 3,812 | 729 |
Recorded Investment,With a specific allowance recorded | 3,812 | 729 | 3,812 | 729 |
Related Allowance,With a specific allowance recorded | 57 | 51 | 57 | 51 |
Average recorded investment, with no related specific allowance | 17,672 | 22,777 | 18,415 | 23,471 |
Interest income recognized,With no related specific allowance | 169 | 92 | 322 | 408 |
Average recorded investment,With a specific allowance recorded | 2,269 | 2,765 | 1,499 | 3,251 |
Interest income recognized,With a specific allowance recorded | 109 | ' | 113 | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 4,192 | 3,773 | 4,192 | 3,773 |
Recorded Investment,With no specific allowance recorded | 3,714 | 3,249 | 3,714 | 3,249 |
Unpaid Principal Balance,With a specific allowance recorded | 1,915 | 1,546 | 1,915 | 1,546 |
Recorded Investment,With a specific allowance recorded | 1,915 | 1,546 | 1,915 | 1,546 |
Related Allowance,With a specific allowance recorded | 1,026 | 681 | 1,026 | 681 |
Average recorded investment, with no related specific allowance | 4,071 | 3,643 | 3,802 | 3,884 |
Interest income recognized,With no related specific allowance | -2 | 26 | 87 | 87 |
Average recorded investment,With a specific allowance recorded | 1,938 | ' | 2,134 | ' |
Interest income recognized,With a specific allowance recorded | 27 | ' | 68 | ' |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 19,438 | 22,006 | 19,438 | 22,006 |
Recorded Investment,With no specific allowance recorded | 17,782 | 20,090 | 17,782 | 20,090 |
Average recorded investment, with no related specific allowance | 18,337 | 19,487 | 18,900 | 19,872 |
Interest income recognized,With no related specific allowance | 219 | 217 | 610 | 582 |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 2,551 | 2,675 | 2,551 | 2,675 |
Recorded Investment,With no specific allowance recorded | 2,264 | 2,506 | 2,264 | 2,506 |
Average recorded investment, with no related specific allowance | 2,191 | 2,278 | 2,279 | 2,201 |
Interest income recognized,With no related specific allowance | 13 | 20 | 48 | 50 |
Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Unpaid Principal Balance,With no specific allowance recorded | 1,264 | 1,402 | 1,264 | 1,402 |
Recorded Investment,With no specific allowance recorded | 1,071 | 1,182 | 1,071 | 1,182 |
Average recorded investment, with no related specific allowance | 1,087 | 1,361 | 1,131 | 1,425 |
Interest income recognized,With no related specific allowance | $26 | $28 | $72 | $77 |
Recovered_Sheet2
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | $36,771 | $36,633 |
TDRs | 17,718 | 24,185 |
Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 12,222 | 14,861 |
Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 5,496 | 9,324 |
Commercial Real Estate - Land and Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 1,547 | 2,564 |
TDRs | 466 | 1,601 |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 466 | 1,601 |
Commercial Real Estate - Improved Property [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 18,206 | 17,305 |
TDRs | 4,066 | 6,710 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 2,494 | 3,052 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 1,572 | 3,658 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 19,753 | 19,869 |
TDRs | 4,532 | 8,311 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 2,494 | 3,052 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 2,038 | 5,259 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 5,432 | 4,380 |
TDRs | 883 | 994 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 197 | 415 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 686 | 579 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 9,404 | 10,240 |
TDRs | 10,586 | 12,841 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 8,378 | 9,850 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 2,208 | 2,991 |
Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 1,499 | 1,604 |
TDRs | 1,029 | 1,191 |
Home Equity [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 765 | 902 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 264 | 289 |
Consumer [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Non-accrual loans | 683 | 540 |
TDRs | 688 | 848 |
Consumer [Member] | Accruing TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | 388 | 642 |
Consumer [Member] | Non-Accrual TDRs [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
TDRs | $300 | $206 |
Recovered_Sheet3
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 6 | 22 | 22 | 55 |
Pre-Modification Outstanding Recorded Investment | $697 | $609 | $1,228 | $3,512 |
Post-Modification Outstanding Recorded Investment | 684 | 552 | 1,162 | 3,193 |
Commercial Real Estate - Land and Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | ' | 1 | ' | 2 |
Pre-Modification Outstanding Recorded Investment | ' | 66 | ' | 366 |
Post-Modification Outstanding Recorded Investment | ' | 65 | ' | 359 |
Commercial Real Estate - Improved Property [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 2 | 1 | 4 | 6 |
Pre-Modification Outstanding Recorded Investment | 475 | 49 | 692 | 568 |
Post-Modification Outstanding Recorded Investment | 465 | 49 | 664 | 395 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 2 | 2 | 4 | 8 |
Pre-Modification Outstanding Recorded Investment | 475 | 115 | 692 | 934 |
Post-Modification Outstanding Recorded Investment | 465 | 114 | 664 | 754 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | ' | 1 | ' | 7 |
Pre-Modification Outstanding Recorded Investment | ' | 14 | ' | 164 |
Post-Modification Outstanding Recorded Investment | ' | 14 | ' | 161 |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 1 | 8 | 5 | 24 |
Pre-Modification Outstanding Recorded Investment | 112 | 307 | 286 | 2,180 |
Post-Modification Outstanding Recorded Investment | 112 | 280 | 278 | 2,094 |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 1 | 2 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | 58 | 75 | 59 | 91 |
Post-Modification Outstanding Recorded Investment | 57 | 52 | 57 | 64 |
Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Modifications | 2 | 9 | 12 | 13 |
Pre-Modification Outstanding Recorded Investment | 52 | 98 | 191 | 143 |
Post-Modification Outstanding Recorded Investment | $50 | $92 | $163 | $120 |
Recovered_Sheet4
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Defaults | Defaults | Defaults | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | 12 | 1 | 35 |
Recorded Investment | $508 | $45 | $2,106 |
Commercial Real Estate - Improved Property [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | ' | ' | 1 |
Recorded Investment | ' | ' | 45 |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | ' | ' | 1 |
Recorded Investment | ' | ' | 45 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | ' | ' | 2 |
Recorded Investment | ' | ' | 293 |
Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | 8 | 1 | 24 |
Recorded Investment | 451 | 45 | 1,624 |
Home Equity [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | 1 | ' | 5 |
Recorded Investment | 20 | ' | 107 |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of Defaults | 3 | ' | 3 |
Recorded Investment | $37 | ' | $37 |
Recovered_Sheet5
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Other real estate owned | $4,505 | $4,689 |
Repossessed assets | 190 | 171 |
Total other real estate owned and repossessed assets | $4,695 | $4,860 |
Pension_Plan_Components_of_Net
Pension Plan - Components of Net Periodic Pension Cost (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' |
Service cost - benefits earned during year | $734 | $742 | $2,176 | $2,398 |
Interest cost on projected benefit obligation | 1,196 | 1,015 | 3,549 | 3,092 |
Expected return on plan assets | -1,822 | -1,485 | -5,407 | -4,525 |
Amortization of prior service cost | 11 | 11 | 33 | 34 |
Amortization of net loss | 370 | 906 | 1,100 | 2,626 |
Net periodic pension cost | $489 | $1,189 | $1,451 | $3,625 |
Pension_Plan_Additional_Inform
Pension Plan - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2014 |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Minimum required pension plan contribution | ' | $4 |
Partial credit balance utilized for minimum required contribution | ' | 29.2 |
Contribution of pension fund | 2.5 | ' |
Additional expected contribution | ' | $2.50 |
Fair_Value_Measurement_Schedul
Fair Value Measurement - Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | $959,553 | $934,386 |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Loans held for sale | 6,260 | 5,855 |
Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 959,553 | 934,386 |
Total recurring fair value measurements | 959,553 | 934,386 |
Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 4,644 | 1,543 |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Loans held for sale | 6,260 | 5,855 |
Total nonrecurring fair value measurements | 15,599 | 12,258 |
Obligations of Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 80,522 | 73,232 |
Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 80,522 | 73,232 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 728,416 | 694,267 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 728,416 | 694,267 |
Obligations of State and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 102,695 | 116,346 |
Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 102,695 | 116,346 |
Corporate Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 36,792 | 38,481 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 36,792 | 38,481 |
Equity Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 11,128 | 12,060 |
Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 11,128 | 12,060 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 9,197 | 9,962 |
Loans held for sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 9,197 | 9,962 |
Total recurring fair value measurements | 9,197 | 9,962 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | ' | ' |
Other real estate owned and repossessed assets | ' | ' |
Loans held for sale | ' | ' |
Total nonrecurring fair value measurements | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 9,197 | 9,962 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 950,356 | 924,424 |
Loans held for sale | 6,260 | 5,855 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 950,356 | 924,424 |
Total recurring fair value measurements | 950,356 | 924,424 |
Significant Other Observable Inputs (Level 2) [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | ' | ' |
Other real estate owned and repossessed assets | ' | ' |
Loans held for sale | 6,260 | 5,855 |
Total nonrecurring fair value measurements | 6,260 | 5,855 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 80,522 | 73,232 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 728,416 | 694,267 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 102,695 | 116,346 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 36,792 | 38,481 |
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | 1,931 | 2,098 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Loans held for sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Total recurring fair value measurements | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 4,644 | 1,543 |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Loans held for sale | ' | ' |
Total nonrecurring fair value measurements | 9,339 | 6,403 |
Significant Unobservable Inputs (Level 3) [Member] | Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities - available-for-sale | ' | ' |
Fair_Value_Measurement_Schedul1
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Impaired loans | 4,644 | 1,543 |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Minimum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Impaired loans, Appraisal adjustments | 0.00% | 0.00% |
Impaired loans, Liquidation expenses | -1.00% | -3.50% |
Maximum [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Impaired loans, Appraisal adjustments | -36.90% | -29.10% |
Impaired loans, Liquidation expenses | -8.00% | -8.00% |
Weighted Average [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Impaired loans, Appraisal adjustments | -11.60% | -15.60% |
Impaired loans, Liquidation expenses | -7.20% | -4.70% |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Impaired loans | 4,644 | 1,543 |
Other real estate owned and repossessed assets | 4,695 | 4,860 |
Fair_Value_Measurement_Estimat
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | $76,419 | $95,551 | $145,639 | $125,605 |
Securities available-for-sale | 959,553 | 934,386 | ' | ' |
Securities held-to-maturity | 594,860 | 598,520 | ' | ' |
Net loans | 3,986,675 | 3,847,549 | ' | ' |
Loans held for sale | 6,260 | 5,855 | ' | ' |
Accrued interest receivable | 20,032 | 18,960 | ' | ' |
Bank-owned life insurance | 122,678 | 121,390 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 5,101,685 | 5,062,530 | ' | ' |
Federal Home Loan Bank borrowings | 123,374 | 39,508 | ' | ' |
Other borrowings | 117,637 | 150,536 | ' | ' |
Junior subordinated debt | 106,166 | 106,137 | ' | ' |
Accrued interest payable | 2,103 | 2,354 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 76,419 | 95,551 | ' | ' |
Securities available-for-sale | 9,197 | 9,962 | ' | ' |
Securities held-to-maturity | ' | ' | ' | ' |
Net loans | ' | ' | ' | ' |
Loans held for sale | ' | ' | ' | ' |
Accrued interest receivable | 20,032 | 18,960 | ' | ' |
Bank-owned life insurance | 122,678 | 121,390 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 3,743,378 | 3,551,052 | ' | ' |
Federal Home Loan Bank borrowings | ' | ' | ' | ' |
Other borrowings | 114,222 | 104,196 | ' | ' |
Junior subordinated debt | ' | ' | ' | ' |
Accrued interest payable | 2,103 | 2,354 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | ' | ' | ' | ' |
Securities available-for-sale | 950,356 | 924,424 | ' | ' |
Securities held-to-maturity | 616,589 | 595,581 | ' | ' |
Net loans | ' | ' | ' | ' |
Loans held for sale | 6,260 | 5,855 | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Bank-owned life insurance | ' | ' | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 1,367,177 | 1,525,155 | ' | ' |
Federal Home Loan Bank borrowings | 125,749 | 42,314 | ' | ' |
Other borrowings | 3,418 | 48,819 | ' | ' |
Junior subordinated debt | 80,080 | 74,038 | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | ' | ' | ' | ' |
Securities available-for-sale | ' | ' | ' | ' |
Securities held-to-maturity | 743 | 727 | ' | ' |
Net loans | 3,945,722 | 3,754,465 | ' | ' |
Loans held for sale | ' | ' | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Bank-owned life insurance | ' | ' | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | ' | ' | ' | ' |
Federal Home Loan Bank borrowings | ' | ' | ' | ' |
Other borrowings | ' | ' | ' | ' |
Junior subordinated debt | ' | ' | ' | ' |
Accrued interest payable | ' | ' | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 76,419 | 95,551 | ' | ' |
Securities available-for-sale | 959,553 | 934,386 | ' | ' |
Securities held-to-maturity | 594,860 | 598,520 | ' | ' |
Net loans | 3,986,675 | 3,847,549 | ' | ' |
Loans held for sale | 6,260 | 5,855 | ' | ' |
Accrued interest receivable | 20,032 | 18,960 | ' | ' |
Bank-owned life insurance | 122,678 | 121,390 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 5,101,685 | 5,062,530 | ' | ' |
Federal Home Loan Bank borrowings | 123,374 | 39,508 | ' | ' |
Other borrowings | 117,637 | 150,536 | ' | ' |
Junior subordinated debt | 106,166 | 106,137 | ' | ' |
Accrued interest payable | 2,103 | 2,354 | ' | ' |
Fair Value Estimate [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 76,419 | 95,551 | ' | ' |
Securities available-for-sale | 959,553 | 934,386 | ' | ' |
Securities held-to-maturity | 617,332 | 596,308 | ' | ' |
Net loans | 3,945,722 | 3,754,465 | ' | ' |
Loans held for sale | 6,260 | 5,855 | ' | ' |
Accrued interest receivable | 20,032 | 18,960 | ' | ' |
Bank-owned life insurance | 122,678 | 121,390 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 5,110,555 | 5,076,207 | ' | ' |
Federal Home Loan Bank borrowings | 125,749 | 42,314 | ' | ' |
Other borrowings | 117,640 | 153,015 | ' | ' |
Junior subordinated debt | 80,080 | 74,038 | ' | ' |
Accrued interest payable | $2,103 | $2,354 | ' | ' |
Comprehensive_Income_Component
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Beginning Balance, Defined Benefit Pension Plan | ' | ' | ($7,966) | ($21,401) |
Defined Benefit Pension Plan, Other comprehensive income before reclassifications | ' | ' | ' | ' |
Defined Benefit Pension Plan, Amounts reclassified from accumulated other comprehensive income | 242 | 580 | 716 | 1,630 |
Defined Benefit Pension Plan, Period change | ' | ' | 716 | 1,630 |
Ending Balance, Defined Benefit Pension Plan | -7,250 | -19,771 | -7,250 | -19,771 |
Beginning Balance, Unrealized Gains (Losses) on Securities Available-for-Sale | ' | ' | -6,126 | 13,032 |
Unrealized Gains (Losses) on Securities Available-for-Sale, Other comprehensive income before reclassifications | ' | ' | 5,344 | -13,095 |
Unrealized Gains (Losses) on Securities Available-for-Sale, Amounts reclassified from accumulated other comprehensive income | -369 | 6 | -525 | -75 |
Net effect on other comprehensive income for the period | ' | ' | 4,819 | -13,170 |
Ending Balance, Unrealized Gains (Losses) on Securities Available-for-Sale | -1,307 | -138 | -1,307 | -138 |
Beginning Balance, Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity | ' | ' | 1,358 | 2,004 |
Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity, Other comprehensive income before reclassifications | ' | ' | ' | ' |
Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity, Amounts reclassified from accumulated other comprehensive income | -53 | -131 | -224 | -537 |
Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity, Period change | ' | ' | -224 | -537 |
Ending Balance, Unrealized Gains on Securities Transferred from Available-for-Sale to Held-to-Maturity | 1,134 | 1,467 | 1,134 | 1,467 |
Beginning Balance, Accumulated Other Comprehensive Income | ' | ' | -12,734 | -6,365 |
Other comprehensive income before reclassifications | ' | ' | 5,344 | -13,095 |
Amounts reclassified from accumulated other comprehensive income | -180 | 455 | -33 | 1,018 |
Other comprehensive income | ' | ' | 5,311 | -12,077 |
Ending Balance, Accumulated Other Comprehensive Income | ($7,423) | ($18,442) | ($7,423) | ($18,442) |
Comprehensive_Income_Component1
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Statement of Comprehensive Income [Abstract] | ' | ' |
Percentage of Federal and State income tax rate | 36.50% | 36.50% |
Comprehensive_Income_Schedule_
Comprehensive Income - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Securities available-for-sale: | ' | ' | ' | ' |
Net securities (gains)/losses reclassified into earnings | ($583) | $10 | ($831) | ($119) |
Related income tax expense/(benefit) | 214 | -4 | 306 | 44 |
Net effect on accumulated other comprehensive income for the period | -369 | 6 | -525 | -75 |
Securities held-to-maturity: | ' | ' | ' | ' |
Amortization of unrealized gain transferred from available-for-sale | -84 | -207 | -354 | -857 |
Related income tax expense | 31 | 76 | 130 | 320 |
Net effect on accumulated other comprehensive income for the period | -53 | -131 | -224 | -537 |
Defined benefit pension plan: | ' | ' | ' | ' |
Amortization of net loss and prior service costs | 382 | 918 | 1,134 | 2,661 |
Related income tax benefit | -140 | -338 | -418 | -1,031 |
Net effect on accumulated other comprehensive income for the period | 242 | 580 | 716 | 1,630 |
Total reclassifications for the period | ($180) | $455 | ($33) | $1,018 |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' |
Allowance for credit losses associated with loan commitments | $533 | $602 | $371 | $341 |
Commitments_and_Contingent_Lia3
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Lines of credit | $952,000 | $964,777 |
Loans approved but not closed | 132,024 | 73,937 |
Overdraft limits | 88,787 | 96,291 |
Letters of credit | 25,630 | 18,686 |
Contingent obligations to purchase loans funded by other entities | $6,774 | $6,327 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Segment | Trust and Investment Services [Member] | Trust and Investment Services [Member] | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Operating segments | 2 | ' | ' |
Market value of assets held by trust and investment services segment | ' | $3,800,000,000 | $3,500,000,000 |
Total non-fiduciary assets of the trust and investment services segment | ' | $4,000,000 | $3,300,000 |
Business_Segments_Financial_In
Business Segments - Financial Information by Business Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | $54,303 | $54,317 | $161,805 | $163,634 |
Interest expense | 5,692 | 8,186 | 17,562 | 25,385 |
Net interest income | 48,611 | 46,131 | 144,243 | 138,249 |
Provision for credit losses | 1,478 | 2,819 | 4,526 | 5,942 |
Net interest income after provision for credit losses | 47,133 | 43,312 | 139,717 | 132,307 |
Non-interest income | 16,654 | 17,116 | 51,944 | 52,336 |
Non-interest expense | 39,263 | 40,009 | 119,661 | 120,256 |
Income before provision for income taxes | 24,524 | 20,419 | 72,000 | 64,387 |
Provision for income taxes | 6,358 | 4,884 | 18,538 | 15,815 |
Net income | 18,166 | 15,535 | 53,462 | 48,572 |
Community Banking [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | 54,303 | 54,317 | 161,805 | 163,634 |
Interest expense | 5,692 | 8,186 | 17,562 | 25,385 |
Net interest income | 48,611 | 46,131 | 144,243 | 138,249 |
Provision for credit losses | 1,478 | 2,819 | 4,526 | 5,942 |
Net interest income after provision for credit losses | 47,133 | 43,312 | 139,717 | 132,307 |
Non-interest income | 11,558 | 12,262 | 35,990 | 37,642 |
Non-interest expense | 36,292 | 37,011 | 110,485 | 111,384 |
Income before provision for income taxes | 22,399 | 18,563 | 65,222 | 58,565 |
Provision for income taxes | 5,508 | 4,141 | 15,827 | 13,486 |
Net income | 16,891 | 14,422 | 49,395 | 45,079 |
Trust and Investment Services [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' |
Net interest income | ' | ' | ' | ' |
Provision for credit losses | ' | ' | ' | ' |
Net interest income after provision for credit losses | ' | ' | ' | ' |
Non-interest income | 5,096 | 4,854 | 15,954 | 14,694 |
Non-interest expense | 2,971 | 2,998 | 9,176 | 8,872 |
Income before provision for income taxes | 2,125 | 1,856 | 6,778 | 5,822 |
Provision for income taxes | 850 | 743 | 2,711 | 2,329 |
Net income | $1,275 | $1,113 | $4,067 | $3,493 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $) | 0 Months Ended | |
Oct. 29, 2014 | Oct. 29, 2014 | |
Branch | ||
Subsequent Event [Member] | ' | ' |
Subsequent Events [Line Items] | ' | ' |
Assets acquired | ' | $1,900,000,000 |
Number of Branches acquired | 23 | ' |
Issuance of common stock shares for acquisition of business | 0.502 | ' |
Value paid per share | ' | $17.65 |
Cash paid per Share | $1.76 | ' |
Total purchase price of acquisition | $324,400,000 | ' |
Average closing common stock price period | '15 days | ' |