Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 17, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | WSBC | ||
Entity Registrant Name | WESBANCO INC | ||
Entity Central Index Key | 203,596 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 43,952,569 | ||
Entity Public Float | $ 1,112,248,757 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $21,913 and $10,978, respectively | $ 128,170 | $ 86,685 |
Securities: | ||
Trading securities, at fair value | 7,071 | 6,451 |
Available-for-sale, at fair value | 1,241,176 | 1,403,069 |
Held-to-maturity (fair values of $1,076,790 and $1,038,207, respectively) | 1,067,967 | 1,012,930 |
Total securities | 2,316,214 | 2,422,450 |
Loans held for sale | 17,315 | 7,899 |
Portfolio loans, net of unearned income | 6,249,436 | 5,065,842 |
Allowance for loan losses | (43,674) | (41,710) |
Net portfolio loans | 6,205,762 | 5,024,132 |
Premises and equipment, net | 133,297 | 112,203 |
Accrued interest receivable | 28,299 | 25,759 |
Goodwill and other intangible assets, net | 593,187 | 490,888 |
Bank-owned life insurance | 188,145 | 150,980 |
Other assets | 180,488 | 149,302 |
Total Assets | 9,790,877 | 8,470,298 |
Deposits: | ||
Non-interest bearing demand | 1,789,522 | 1,311,455 |
Interest bearing demand | 1,546,890 | 1,152,071 |
Money market | 995,477 | 967,561 |
Savings deposits | 1,213,168 | 1,077,374 |
Certificates of deposit | 1,495,822 | 1,557,838 |
Total deposits | 7,040,879 | 6,066,299 |
Federal Home Loan Bank borrowings | 968,946 | 1,041,750 |
Other short-term borrowings | 199,376 | 81,356 |
Subordinated debt and junior subordinated debt | 163,598 | 106,196 |
Total borrowings | 1,331,920 | 1,229,302 |
Accrued interest payable | 2,204 | 1,715 |
Other liabilities | 74,466 | 50,850 |
Total Liabilities | 8,449,469 | 7,348,166 |
SHAREHOLDERS' EQUITY | ||
Preferred Stock, no par value; 1,000,000 shares authorized; none outstanding | ||
Common stock, $2.0833 par value; 100,000,000 shares authorized; 43,931,715 and 38,546,042 shares issued in 2016 and 2015, respectively; 43,931,715 and 38,459,635 shares outstanding in 2016 and 2015, respectively | 91,524 | 80,304 |
Capital surplus | 680,507 | 516,294 |
Retained earnings | 597,071 | 549,921 |
Treasury stock (0 shares and 86,407 shares in 2016 and 2015, respectively, at cost) | (2,640) | |
Accumulated other comprehensive loss | (27,126) | (20,954) |
Deferred benefits for directors | (568) | (793) |
Total Shareholders' Equity | 1,341,408 | 1,122,132 |
Total Liabilities and Shareholders' Equity | $ 9,790,877 | $ 8,470,298 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 21,913 | $ 10,978 |
Held-to-maturity securities, fair values | $ 1,076,790 | $ 1,038,207 |
Preferred stock, no par value | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.0833 | $ 2.0833 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 43,931,715 | 38,546,042 |
Common stock, shares outstanding | 43,931,715 | 38,459,635 |
Treasury stock, shares | 0 | 86,407 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
INTEREST AND DIVIDEND INCOME | |||
Loans, including fees | $ 226,993 | $ 203,993 | $ 172,182 |
Interest and dividends on securities: | |||
Taxable | 38,490 | 39,314 | 29,233 |
Tax-exempt | 18,390 | 16,764 | 13,589 |
Total interest and dividends on securities | 56,880 | 56,078 | 42,822 |
Other interest income | 2,224 | 1,641 | 987 |
Total interest and dividend income | 286,097 | 261,712 | 215,991 |
INTEREST EXPENSE | |||
Interest bearing demand deposits | 2,817 | 1,943 | 1,568 |
Money market deposits | 1,860 | 1,914 | 1,877 |
Savings deposits | 696 | 640 | 532 |
Certificates of deposit | 10,419 | 11,033 | 13,286 |
Total interest expense on deposits | 15,792 | 15,530 | 17,263 |
Federal Home Loan Bank borrowings | 11,985 | 5,510 | 968 |
Other short-term borrowings | 478 | 370 | 1,333 |
Subordinated debt and junior subordinated debt | 4,512 | 3,315 | 3,199 |
Total interest expense | 32,767 | 24,725 | 22,763 |
NET INTEREST INCOME | 253,330 | 236,987 | 193,228 |
Provision for credit losses | 8,478 | 8,353 | 6,405 |
Net interest income after provision for credit losses | 244,852 | 228,634 | 186,823 |
NON-INTEREST INCOME | |||
Trust fees | 21,630 | 21,900 | 21,069 |
Service charges on deposits | 18,333 | 16,743 | 16,135 |
Electronic banking fees | 15,596 | 14,361 | 12,708 |
Net securities brokerage revenue | 6,449 | 7,692 | 6,922 |
Bank-owned life insurance | 4,064 | 4,863 | 4,614 |
Net gains on sales of mortgage loans | 2,529 | 2,071 | 1,604 |
Net securities gains | 2,357 | 948 | 903 |
Net gain / (loss) on other real estate owned and other assets | 790 | 356 | (1,006) |
Other income | 9,751 | 5,532 | 5,555 |
Total non-interest income | 81,499 | 74,466 | 68,504 |
NON-INTEREST EXPENSE | |||
Salaries and wages | 84,281 | 77,340 | 67,408 |
Employee benefits | 27,952 | 26,896 | 21,518 |
Net occupancy | 14,664 | 13,635 | 12,122 |
Equipment | 14,543 | 13,194 | 11,542 |
Marketing | 5,391 | 5,646 | 5,242 |
FDIC insurance | 3,990 | 4,107 | 3,376 |
Amortization of intangible assets | 3,598 | 3,136 | 1,920 |
Restructuring and merger-related expense | 13,261 | 11,082 | 1,309 |
Other operating expenses | 41,000 | 38,887 | 37,196 |
Total non-interest expense | 208,680 | 193,923 | 161,633 |
Income before provision for income taxes | 117,671 | 109,177 | 93,694 |
Provision for income taxes | 31,036 | 28,415 | 23,720 |
NET INCOME | $ 86,635 | $ 80,762 | $ 69,974 |
EARNINGS PER COMMON SHARE | |||
Basic | $ 2.16 | $ 2.15 | $ 2.39 |
Diluted | $ 2.16 | $ 2.15 | $ 2.39 |
AVERAGE COMMON SHARES OUTSTANDING | |||
Basic | 40,100,320 | 37,488,331 | 29,249,499 |
Diluted | 40,127,076 | 37,547,127 | 29,333,876 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 0.96 | $ 0.92 | $ 0.88 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 86,635 | $ 80,762 | $ 69,974 |
Securities available-for-sale: | |||
Net change in unrealized (losses) gains on securities available-for-sale | (6,761) | (10,552) | 15,242 |
Related income tax benefit (expense) | 2,461 | 3,875 | (5,604) |
Net securities gains reclassified into earnings | (2,251) | (596) | (981) |
Related income tax expense | 823 | 219 | 361 |
Net effect on other comprehensive income for the period | (5,728) | (7,054) | 9,018 |
Securities held-to-maturity: | |||
Amortization of unrealized gain transferred from available-for-sale | (357) | (494) | (472) |
Related income tax expense | 132 | 182 | 173 |
Net effect on other comprehensive income for the period | (225) | (312) | (299) |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | 3,046 | 3,205 | 1,516 |
Related income tax benefit | (1,153) | (1,201) | (558) |
Recognition of unrealized (loss) gain | (3,329) | 5,106 | (24,934) |
Related income tax benefit (expense) | 1,217 | (1,873) | 9,166 |
Net effect on other comprehensive income for the period | (219) | 5,237 | (14,810) |
Total other comprehensive loss | (6,172) | (2,129) | (6,091) |
Comprehensive income | $ 80,463 | $ 78,633 | $ 63,883 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Deferred Benefits for Directors [Member] |
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 | 69,974 | 69,974 | |||||
Other comprehensive loss | (6,091) | (6,091) | |||||
Comprehensive income | 63,883 | ||||||
Common dividends declared ($0.88, $0.92, and $0.96 per share for year ended December 31, 2014, 2015, and 2016 respectively) | (25,747) | (25,747) | |||||
Stock options exercised | 2,167 | (399) | 2,566 | ||||
Stock options exercised, shares | 82,656 | ||||||
Restricted stock granted | (1,321) | 1,321 | |||||
Restricted stock granted,Shares | 42,554 | ||||||
Treasury shares acquired | (20) | 49 | (69) | ||||
Treasury shares acquired, shares | (2,258) | ||||||
Stock compensation expense | 1,312 | 1,312 | |||||
Deferred benefits for directors-net | 46 | (46) | |||||
Ending Balance at Dec. 31, 2014 | 788,190 | $ 61,182 | 244,661 | 504,578 | (2,151) | (18,825) | (1,255) |
Ending Balance, shares at Dec. 31, 2014 | 29,298,188 | ||||||
Net income | 80,762 | 80,762 | |||||
Other comprehensive loss | (2,129) | (2,129) | |||||
Comprehensive income | 78,633 | ||||||
Common dividends declared ($0.88, $0.92, and $0.96 per share for year ended December 31, 2014, 2015, and 2016 respectively) | (35,419) | (35,419) | |||||
Shares issued for acquisition | 293,629 | $ 19,122 | 274,507 | ||||
Shares issued for acquisition, shares | 9,178,531 | ||||||
Stock options exercised | 1,601 | (324) | 1,925 | ||||
Stock options exercised, shares | 60,275 | ||||||
Restricted stock granted | (1,558) | 1,558 | |||||
Restricted stock granted,Shares | 49,550 | ||||||
Repurchase of stock warrant | (2,247) | (2,247) | |||||
Treasury shares acquired | (3,921) | 51 | (3,972) | ||||
Treasury shares acquired, shares | (126,909) | ||||||
Stock compensation expense | 1,666 | 1,666 | |||||
Deferred benefits for directors-net | (462) | 462 | |||||
Ending Balance at Dec. 31, 2015 | 1,122,132 | $ 80,304 | 516,294 | 549,921 | (2,640) | (20,954) | (793) |
Ending Balance, shares at Dec. 31, 2015 | 38,459,635 | ||||||
Net income | 86,635 | 86,635 | |||||
Other comprehensive loss | (6,172) | (6,172) | |||||
Comprehensive income | 80,463 | ||||||
Common dividends declared ($0.88, $0.92, and $0.96 per share for year ended December 31, 2014, 2015, and 2016 respectively) | (39,485) | (39,485) | |||||
Shares issued for acquisition | 177,149 | $ 11,071 | 162,934 | 3,144 | |||
Shares issued for acquisition, shares | 5,423,348 | ||||||
Stock options exercised | $ 2,920 | $ 139 | 1,707 | 1,074 | |||
Stock options exercised, shares | 101,190 | 101,190 | |||||
Restricted stock granted | $ 10 | (2,281) | 2,271 | ||||
Restricted stock granted,Shares | 81,220 | ||||||
Treasury shares acquired | $ (3,793) | 56 | $ (3,849) | ||||
Treasury shares acquired, shares | (133,678) | ||||||
Stock compensation expense | 2,022 | 2,022 | |||||
Deferred benefits for directors-net | (225) | 225 | |||||
Ending Balance at Dec. 31, 2016 | $ 1,341,408 | $ 91,524 | $ 680,507 | $ 597,071 | $ (27,126) | $ (568) | |
Ending Balance, shares at Dec. 31, 2016 | 43,931,715 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Common dividends declared, per share | $ 0.96 | $ 0.92 | $ 0.88 |
Retained Earnings [Member] | |||
Common dividends declared, per share | $ 0.96 | $ 0.92 | $ 0.88 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES | |||
Net income | $ 86,635 | $ 80,762 | $ 69,974 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of premises and equipment | 9,242 | 8,122 | 7,386 |
Other net amortization | 8,768 | 6,460 | 1,742 |
Provision for credit losses | 8,478 | 8,353 | 6,405 |
Net securities gains | (2,357) | (948) | (903) |
Net gains on sales of mortgage loans | (2,529) | (2,071) | (1,604) |
Decrease in deferred income tax assets | 10,824 | 10,665 | 8,690 |
Increase in cash surrender value of bank-owned life insurance | (4,064) | (4,863) | (4,614) |
Contribution to pension plan | (5,750) | (7,500) | (7,500) |
Loans originated for sale | (167,370) | (135,892) | (102,321) |
Proceeds from the sale of loans originated for sale | 159,831 | 135,928 | 103,916 |
Net change in: accrued interest receivable and other assets | 13,137 | (4,293) | 10,205 |
Net change in: accrued interest payable and other liabilities | 7,404 | (7,988) | (1,896) |
Other-net | 1,448 | 1,914 | 5,328 |
Net cash provided by operating activities | 123,697 | 88,649 | 94,808 |
INVESTING ACTIVITIES | |||
Net increase in loans held for investment | (174,952) | (293,306) | (199,760) |
Securities available-for-sale: | |||
Proceeds from sales | 277,225 | 635,609 | 16,249 |
Proceeds from maturities, prepayments and calls | 285,318 | 319,370 | 214,934 |
Purchases of securities | (214,514) | (526,765) | (201,272) |
Securities held-to-maturity: | |||
Proceeds from maturities, prepayments and calls | 110,954 | 75,295 | 47,820 |
Purchases of securities | (93,444) | (390,471) | (45,955) |
Net cash received (paid) to acquire a business | 4,863 | (28,551) | |
Proceeds from bank-owned life insurance | 19 | 7,803 | 2,352 |
Purchases of premises and equipment-net | (2,061) | (9,575) | (7,374) |
Sale of portfolio loans-net | 560 | ||
Net cash provided (used in) by investing activities | 193,968 | (210,591) | (173,006) |
FINANCING ACTIVITIES | |||
Decrease in deposits | (216,785) | (233,684) | (12,869) |
Proceeds from Federal Home Loan Bank borrowings | 140,000 | 941,910 | 200,532 |
Repayment of Federal Home Loan Bank borrowings | (233,988) | (515,388) | (16,775) |
Increase (decrease) in other short-term borrowings | 15,711 | (4,334) | (51,021) |
Increase (decrease) in federal funds purchased | 58,000 | (20,000) | |
Repayment of junior subordinated debt | (36,083) | ||
Repurchase of common stock warrant | (2,247) | ||
Dividends paid to common shareholders | (37,805) | (33,007) | (25,136) |
Issuance of common stock | 1,713 | ||
Treasury shares (purchased) sold-net | (3,026) | (2,542) | 1,918 |
Net cash (used in) provided by financing activities | (276,180) | 114,625 | 76,649 |
Net increase (decrease) in cash and cash equivalents | 41,485 | (7,317) | (1,549) |
Cash and cash equivalents at beginning of the year | 86,685 | 94,002 | 95,551 |
Cash and cash equivalents at end of the year | 128,170 | 86,685 | 94,002 |
SUPPLEMENTAL DISCLOSURES | |||
Interest paid on deposits and other borrowings | 34,028 | 27,969 | 24,521 |
Income taxes paid | 22,075 | 15,855 | 11,706 |
Transfers of loans to other real estate owned | 4,757 | 1,501 | $ 2,464 |
Transfers of portfolio loans to loans held for sale | 560 | ||
Non-cash transactions related to YCB and ESB acquisitions | $ 177,149 | $ 301,933 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations— Use of Estimates— Principles of Consolidation— WesBanco determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. WesBanco consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%) of the voting interest. Variable Interest Entities A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. A VIE often holds financial assets, including loans or receivables, real estate or other property. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. WesBanco has twelve wholly-owned trust subsidiaries (collectively, the “Trusts”), for which it does not absorb a majority of expected losses or receive a majority of the expected residual returns. Accordingly, the Trusts and their net assets are not included in the Consolidated Financial Statements. However, the junior subordinated deferrable interest debentures issued by WesBanco to the Trusts (refer to Note 11, “Subordinated Debt and Junior Subordinated Debt”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling Revenue Recognition— Cash and Cash Equivalents— one-day Securities— Trading securities: non-interest Available-for-sale held-to-maturity available-for-sale. Held-to-maturity held-to-maturity available-for-sale held-to-maturity Cost method investments: Securities acquired in acquisitions are recorded at fair value with the premium or discount derived from the fair market value adjustment recognized into interest income on a level yield basis over the remaining life of the security. Gains and losses: non-interest available-for-sale Amortization and accretion: Other-than-temporary impairment losses: available-for-sale non-credit available-for-sale non-credit Loans and Loans Held for Sale— Loans acquired in acquisitions are recorded at fair value with no carryover of related allowance for credit losses. The premium or discount derived from the fair market value adjustment is recognized into interest income using a level yield method over the remaining expected life of the loan. Refer to the “Acquired Loans” policy below for additional detail. Loan origination fees and direct costs are deferred and accreted or amortized into interest income, as an adjustment to the yield, over the life of the loan using the level yield method. When a loan is paid off, the remaining unaccreted or unamortized net origination fees or costs are immediately recognized into income. Loans are generally placed on non-accrual non-accrual non-accrual 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 include all non-accrual non-accrual Consumer loans are charged down to the net realizable value at 120 days past due for closed-end open-end Troubled Debt Restructurings (“TDR”) When determining whether a debtor is experiencing financial difficulties, consideration is given to any known default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability to continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal & interest) in accordance with the contractual terms for the foreseeable future, without a modification. If the payment of principal at original maturity is primarily dependent on the value of collateral, the current value of that collateral is considered in determining whether the principal will be paid. The restructuring of a loan does not have a material effect on the allowance or provision for credit losses as the internal risk grade of a loan has more influence on the allowance than the classification of a loan as a TDR. The internal risk rating is the primary factor for establishing the allowance for commercial loans, including commercial real estate except for loans that are individually evaluated for impairment, in which case a specific reserve is established pursuant to GAAP. Portfolio segment loss history is the primary factor for establishing the allowance for residential real estate, home equity and consumer loans. Non-accrual non-accrual, non-accrual Acquired Loans Acquired loans that meet the criteria for non-accrual non-accrual non-performing Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, 310-30) non-accrual Under the ASC 310-30 non-accretable non-accretable Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, 310-20), loan-by-loan Allowance for Credit Losses— The evaluation includes an assessment of quantitative factors such as actual loss experience within each category of loans and testing of certain commercial loans for impairment. The evaluation also considers qualitative factors such as economic trends and conditions, which includes levels of unemployment, real estate values and the impact on specific industries and geographical markets, changes in lending policies and underwriting standards, delinquency and other credit quality trends, concentrations of credit risk, if any, the results of internal loan reviews and examinations by bank regulatory agencies, the volatility of historical loss rates, the velocity of changes in historical loss rates, and regulatory guidance pertaining to the allowance for credit losses. Management relies on observable data from internal and external sources to the extent it is available to evaluate each of these factors and adjusts the actual historical loss rates to reflect the impact these factors may have on probable losses in the portfolio. Commercial real estate and commercial and industrial loans greater than $1 million that are reported as non-accrual General reserves are established for loans that are not individually tested for impairment based on historical loss rates adjusted for the impact of the qualitative factors discussed above. Historical loss rates for commercial real estate and commercial and industrial loans are determined for each internal risk grade or group of pass grades using a migration analysis. Historical loss rates for commercial real estate land and construction, residential real estate, home equity and consumer loans that are not risk graded are determined for the total of each category of loans. Historical loss rates for deposit account overdrafts are based on actual losses in relation to average overdrafts for the period. Management may also adjust its assumptions to account for differences between estimated and actual incurred losses from period to period. The variability of management’s assumptions could alter the level of the allowance for credit losses and may have a material impact on future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced; however, there have been no material substantive changes compared to prior periods. Mortgage Servicing Rights— Premises and Equipment— Other Real Estate Owned and Repossessed Assets— available-for-sale Goodwill and Other Intangible Assets— non-controlling Goodwill is not amortized but is evaluated for impairment annually, or more often if events or circumstances indicate it may be impaired. Finite-lived intangible assets, which consist primarily of core deposit and customer list intangibles (long-term customer-relationship intangible assets) are amortized using straight-line and accelerated methods over their weighted-average estimated useful lives, ranging from ten to sixteen years in total, and are tested for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable. Non-compete Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the two-step two-step two-step Intangible assets with finite useful lives are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of an intangible asset with a finite useful life is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset. WesBanco does not have any indefinite-lived intangible assets. Bank-Owned Life Insurance— non-interest Interest Rate Lock Commitments— one-to-one Derivative Instruments and Hedging Activities Income Taxes— Fair Value—F Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques where all significant assumptions are observable, either directly or indirectly, in the market; Level 3—Valuation is generated from model-based techniques where all significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques may include use of discounted cash flow models and similar techniques. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Earnings Per Common Share— in-the-money Trust Assets— Stock-Based Compensation Defined Benefit Pension Plan Recent Accounting Pronouncements 2017-04) In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In June 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In March 2016, the FASB issued ASU 2016-09 In March 2016, the FASB issued ASU 2016-07 In February 2016, the FASB issued ASU 2016-02 In January 2016, the FASB issued ASU 2016-01 In September 2015, the FASB issued ASU 2015-16 In May 2015, the FASB issued ASU 2015-07 In April 2015, the FASB issued ASU 2015-05 internal-use In February 2015, the FASB issued ASU 2015-02 2a-7 In May 2014, the FASB issued ASU 2014-09 one-year 2016-08 2016-10 2016-12 In January 2014, the FASB issued ASU No. 2014-01, |
Mergers and Acquisitions
Mergers and Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | NOTE 2. MERGERS AND ACQUISITIONS On September 9, 2016, WesBanco completed its acquisition of Your Community Bankshares, Inc. (“YCB”), and its wholly-owned banking subsidiary, Your Community Bank (“YCB Bank”), an Indiana state-chartered commercial bank headquartered in New Albany, Indiana. The transaction expanded WesBanco’s franchise into Kentucky and southern Indiana. On the acquisition date, YCB had approximately $1.5 billion in assets, excluding goodwill, which included approximately $1.0 billion in loans, and $173.2 million in securities. The YCB acquisition was valued at $220.5 million, based on WesBanco’s closing stock price on September 9, 2016 of $32.62, and resulted in WesBanco issuing 5,423,348 shares of its common stock and $43.3 million in cash in exchange for all of the outstanding shares of YCB common stock. The assets and liabilities of YCB were recorded on WesBanco’s balance sheet at their preliminary estimated fair value as of September 9, 2016, the acquisition date, and YCB’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. Due to the timing of the acquisition relative to the end of the reporting period, the fair values for certain assets and liabilities acquired from YCB on September 9, 2016 represent preliminary estimates. Based on a preliminary purchase price allocation, WesBanco recorded $92.9 million in goodwill and $12.0 million in core deposit intangibles in its Community Banking segment, representing the principal change in goodwill and intangibles from December 31, 2015. None of the goodwill is deductible for income tax purposes as the acquisition is accounted for as a tax-free For the twelve months ended December 31, 2016, WesBanco recorded merger-related expenses of $13.3 million associated with the YCB acquisition. The purchase price of the YCB acquisition and resulting goodwill is summarized as follows: (in thousands) September 9, 2016 Purchase Price: Fair value of WesBanco shares issued $ 177,149 Cash consideration for outstanding YCB shares 43,349 Total purchase price $ 220,498 Fair value of: Tangible assets acquired $ 1,398,596 Core deposit and other intangible assets acquired 11,957 Liabilities assumed (1,331,156 ) Net cash received in the acquisition 48,212 Fair value of net assets acquired 127,609 Goodwill recognized $ 92,889 The following table presents the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition, as WesBanco intends to finalize its accounting for the acquisition of YCB within one year from the date of acquisition: (in thousands) September 9, 2016 Assets acquired Cash and due from banks $ 48,212 Securities 173,223 Loans 1,013,566 Goodwill and other intangible assets 104,846 Accrued income and other assets (1) 211,807 Total assets acquired $ 1,551,654 Liabilities assumed Deposits $ 1,193,010 Borrowings 123,001 Accrued expenses and other liabilities 15,145 Total liabilities assumed 1,331,156 Net assets acquired $ 220,498 (1) Includes receivables of $105.8 million from the sale of available-for-sale The following table presents the changes in the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2016: (in thousands) September 9, 2016 Change in fair value of net assets acquired: Assets Loans $ (1,505 ) Accrued income and other assets 31 Liabilities Borrowings (184 ) Accrued expenses and other liabilities (637 ) Fair value of net assets acquired (2,295 ) Additional goodwill recognized $ 2,295 Goodwill recognized as of September 30, 2016 90,594 Goodwill recognized as of December 31, 2016 $ 92,889 The fair value estimates for loans, properties, deferred taxes, borrowings and other liabilities have continued to fluctuate as the final valuations and/or appraisals are completed. The Company expects to finalize the purchase accounting of YCB within one year of the date of the acquisition. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 3. EARNINGS PER COMMON SHARE Earnings per common share are calculated as follows: For the years ended December 31, (in thousands, except shares and per share amounts) 2016 2015 2014 Numerator for both basic and diluted earnings per common share: Net income $ 86,635 $ 80,762 $ 69,974 Denominator: Total average basic common shares outstanding 40,100,320 37,488,331 29,249,499 Effect of dilutive stock options and warrant 26,756 58,796 84,377 Total diluted average common shares outstanding 40,127,076 37,547,127 29,333,876 Earnings per common share—basic $ 2.16 $ 2.15 $ 2.39 Earnings per common share—diluted 2.16 2.15 2.39 Stock options representing shares of 95,700 were not included in the computation of diluted earnings per share for the year ended December 31, 2016 because to do so would have been anti-dilutive. All stock options were included in the computation for the years ended December 31, 2015 and 2014. No contingently issuable shares were estimated to be awarded under the 2015 total shareholder return plan as the stock performance targets were not met for the year ended December 31, 2016. On September 9, 2016, WesBanco issued 5,423,348 shares of common stock (109,257 of which shares were treasury stock) to complete its acquisition of YCB. These shares are included in average shares outstanding beginning on that date. For additional information relating to the YCB acquisition, refer to Note 2, “Mergers and Acquisitions.” |
Securities
Securities | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 4. SECURITIES The following table shows the amortized cost and fair values of available-for-sale held-to-maturity December 31, 2016 December 31, 2015 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Government sponsored entities and agencies $ 54,803 $ 3 $ (763 ) $ 54,043 $ 82,725 $ 1,183 $ (403 ) $ 83,505 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,052,397 911 (18,209 ) 1,035,099 1,188,256 1,720 (13,896 ) 1,176,080 Obligations of states and political subdivisions 110,208 3,114 (1,659 ) 111,663 76,106 4,205 (46 ) 80,265 Corporate debt securities 35,292 117 (108 ) 35,301 58,745 181 (333 ) 58,593 Total debt securities $ 1,252,700 $ 4,145 $ (20,739 ) $ 1,236,106 $ 1,405,832 $ 7,289 $ (14,678 ) $ 1,398,443 Equity securities 4,062 1,032 (24 ) 5,070 3,812 816 (2 ) 4,626 Total available-for-sale $ 1,256,762 $ 5,177 $ (20,763 ) $ 1,241,176 $ 1,409,644 $ 8,105 $ (14,680 ) $ 1,403,069 Held-to-maturity U.S. Government sponsored entities and agencies $ 13,394 $ — $ (414 ) $ 12,980 $ — $ — $ — $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 215,141 1,279 (2,563 ) 213,857 216,419 1,922 (2,014 ) 216,327 Obligations of states and political subdivisions 805,019 15,652 (5,529 ) 815,142 762,039 26,121 (726 ) 787,434 Corporate debt securities 34,413 418 (20 ) 34,811 34,472 237 (263 ) 34,446 Total held-to-maturity $ 1,067,967 $ 17,349 $ (8,526 ) $ 1,076,790 $ 1,012,930 $ 28,280 $ (3,003 ) $ 1,038,207 Total $ 2,324,729 $ 22,526 $ (29,289 ) $ 2,317,966 $ 2,422,574 $ 36,385 $ (17,683 ) $ 2,441,276 Trading securities, which consist of investments in various mutual funds held in grantor trusts formed in connection with a deferred compensation plan, are recorded at fair value and totaled $7.1 million and $6.5 million, at December 31, 2016 and 2015, respectively. At December 31, 2016 and 2015, there were no holdings of any one issuer, other than the U.S. government sponsored entities and its agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. The following table presents the fair value of available-for-sale held-to-maturity December 31, 2016 (in thousands) One Year One to Five to After Ten Years Mortgage-backed Total Available-for-sale U.S. Government sponsored entities and agencies $ 2,000 $ 11,896 $ 16,729 $ 14,525 $ 8,893 $ 54,043 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 1,035,099 1,035,099 Obligations of states and political subdivisions 8,062 21,835 36,571 45,195 — 111,663 Corporate debt securities — 30,323 3,037 1,941 — 35,301 Equity securities (2) — — — — 5,070 5,070 Total available-for-sale $ 10,062 $ 64,054 $ 56,337 $ 61,661 $ 1,049,062 $ 1,241,176 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 12,980 $ 12,980 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 213,857 213,857 Obligations of states and political subdivisions 735 69,980 407,752 336,675 — 815,142 Corporate debt securities — 976 33,835 — — 34,811 Total held-to-maturity $ 735 $ 70,956 $ 441,587 $ 336,675 $ 226,837 $ 1,076,790 Total $ 10,797 $ 135,010 $ 497,924 $ 398,336 $ 1,275,899 $ 2,317,966 (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 Securities with aggregate fair values of $1.2 billion and $1.0 billion at December 31, 2016 and 2015, 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 available-for-sale The following table presents the gross realized gains and losses on sales and calls of securities for the years ended December 31, 2016, 2015 and 2014, respectively. For the Years Ended (in thousands) 2016 2015 2014 Gross realized gains $ 2,638 $ 1,029 $ 1,131 Gross realized losses (281 ) (81 ) (228 ) Net realized gains $ 2,357 $ 948 $ 903 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 December 31, 2016 and 2015: December 31, 2016 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 58,108 $ (1,177 ) 11 $ — $ — — $ 58,108 $ (1,177 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,057,343 (18,558 ) 246 59,518 (2,214 ) 16 1,116,861 (20,772 ) 262 Obligations of states and political subdivisions 364,583 (7,121 ) 604 2,047 (67 ) 3 366,630 (7,188 ) 607 Corporate debt securities 10,011 (78 ) 3 5,973 (50 ) 2 15,984 (128 ) 5 Equity securities 2,938 (24 ) 2 — — — 2,938 (24 ) 2 Total temporarily impaired securities $ 1,492,983 $ (26,958 ) 866 $ 67,538 $ (2,331 ) 21 $ 1,560,521 $ (29,289 ) 887 December 31, 2015 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 49,826 $ (403) 11 $ — $ — — $ 49,826 $ (403) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,003,397 (10,981 ) 187 146,182 (4,929 ) 31 1,149,579 (15,910 ) 218 Obligations of states and political subdivisions 58,705 (400 ) 76 23,691 (372 ) 29 82,396 (772 ) 105 Corporate debt securities 41,326 (541 ) 12 1,931 (55 ) 1 43,257 (596 ) 13 Equity securities 1,378 (2 ) 1 — — — 1,378 (2 ) 1 Total temporarily impaired securities $ 1,154,632 $ (12,327 ) 287 $ 171,804 $ (5,356 ) 61 $ 1,326,436 $ (17,683 ) 348 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 WesBanco does not believe the securities presented above are impaired due to reasons of credit quality, as substantially all debt securities are rated above 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 FHLB of Pittsburgh, Cincinnati and Indianapolis stock totaling $46.4 million and $45.5 million at December 31, 2016 and 2015, 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 Cre
Loans and the Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | NOTE 5. 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 and discounts on purchased loans. The deferred loan fees and costs were $0.3 million and $1.0 million at December 31, 2016 and 2015, respectively. The discounts on purchased loans from acquisitions were $24.1 million, including $11.0 million related to YCB, and $15.7 million at December 31, 2016 and 2015, respectively. December 31, December 31, (in thousands) 2016 2015 Commercial real estate: Land and construction $ 496,539 $ 344,748 Improved property 2,376,972 1,911,633 Total commercial real estate 2,873,511 2,256,381 Commercial and industrial 1,088,118 737,878 Residential real estate 1,383,390 1,247,800 Home equity 508,359 416,889 Consumer 396,058 406,894 Total portfolio loans 6,249,436 5,065,842 Loans held for sale 17,315 7,899 Total loans $ 6,266,751 $ 5,073,741 The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: For the Year Ended December 31, 2016 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 4,390 $ 14,748 $ 10,002 $ 4,582 $ 2,883 $ 4,763 $ 342 $ 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 26 4,223 1,160 16 662 1,356 1,077 8,520 Provision for loan commitments (6 ) (9 ) (72 ) 2 45 (2 ) — (42 ) Total provision for credit losses 20 4,214 1,088 18 707 1,354 1,077 8,478 Charge-offs (73 ) (1,886 ) (3,070 ) (937 ) (397 ) (3,606 ) (884 ) (10,853 ) Recoveries 5 1,543 320 445 274 1,485 225 4,297 Net charge-offs (68 ) (343 ) (2,750 ) (492 ) (123 ) (2,121 ) (659 ) (6,556 ) Balance at end of period: Allowance for loan losses 4,348 18,628 8,412 4,106 3,422 3,998 760 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total ending allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 For the Year Ended December 31, 2015 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 5,654 $ 17,573 $ 9,063 $ 5,382 $ 2,329 $ 4,078 $ 575 $ 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total beginning allowance for credit losses 5,848 17,583 9,175 5,391 2,419 4,118 575 45,109 Provision for credit losses: Provision for loan losses (1,265 ) 1,250 3,289 399 1,794 2,337 391 8,195 Provision for loan commitments (37 ) 16 148 (2 ) 27 6 — 158 Total provision for credit losses (1,302 ) 1,266 3,437 397 1,821 2,343 391 8,353 Charge-offs — (4,915 ) (2,785 ) (1,803 ) (1,502 ) (2,892 ) (846 ) (14,743 ) Recoveries 1 840 435 604 262 1,240 222 3,604 Net charge-offs 1 (4,075 ) (2,350 ) (1,199 ) (1,240 ) (1,652 ) (624 ) (11,139 ) Balance at end of period: Allowance for loan losses 4,390 14,748 10,002 4,582 2,883 4,763 342 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total ending allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 For the Year Ended December 31, 2014 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: 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 (402 ) 1,239 1,429 1,692 849 1,144 601 6,552 Provision for loan commitments (107 ) (52 ) (18 ) 4 5 21 — (147 ) Total provision for credit losses (509 ) 1,187 1,411 1,696 854 1,165 601 6,405 Charge-offs — (2,426 ) (3,485 ) (2,437 ) (652 ) (3,120 ) (779 ) (12,899 ) Recoveries — 603 1,194 454 115 1,034 233 3,633 Net charge-offs — (1,823 ) (2,291 ) (1,983 ) (537 ) (2,086 ) (546 ) (9,266 ) Balance at end of period: Allowance for loan losses 5,654 17,573 9,063 5,382 2,329 4,078 575 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total ending allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 The following tables present the allowance for credit losses and recorded investments in loans by category: Allowance for Credit Losses and Recorded Investment in Loans (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total December 31, 2016 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 470 $ 407 $ — $ — $ — $ — $ 877 Allowance for loans collectively evaluated for impairment 4,348 18,158 8,005 4,106 3,422 3,998 760 42,797 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,012 $ 1,270 $ — $ — $ — $ — $ 4,282 Collectively evaluated for impairment 494,928 2,364,067 1,086,445 1,382,447 508,359 396,049 — 6,232,295 Acquired with deteriorated credit quality 1,611 9,893 403 943 — 9 — 12,859 Total portfolio loans $ 496,539 $ 2,376,972 $ 1,088,118 $ 1,383,390 $ 508,359 $ 396,058 $ — $ 6,249,436 December 31, 2015 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 668 $ 853 $ — $ — $ — $ — $ 1,521 Allowance for loans collectively evaluated for impairment 4,390 14,080 9,149 4,582 2,883 4,763 342 40,189 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 Portfolio loans: Individually evaluated for impairment (1) $ — $ 4,031 $ 4,872 $ — $ — $ — $ — $ 8,903 Collectively evaluated for impairment 343,832 1,899,738 732,957 1,247,639 416,862 406,622 — 5,047,650 Acquired with deteriorated credit quality 916 7,864 49 161 27 272 — 9,289 Total portfolio loans $ 344,748 $ 1,911,633 $ 737,878 $ 1,247,800 $ 416,889 $ 406,894 $ — $ 5,065,842 (1) Commercial loans greater than $1 million that are reported as non-accrual 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 pre-leases non-real 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 be inadequately protected 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. The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2016 Pass $ 489,380 $ 2,324,755 $ 1,072,751 $ 3,886,886 Criticized—compromised 4,405 15,295 5,078 24,778 Classified—substandard 2,754 36,922 10,289 49,965 Classified—doubtful — — — — Total $ 496,539 $ 2,376,972 $ 1,088,118 $ 3,961,629 As of December 31, 2015 Pass $ 335,989 $ 1,864,986 $ 713,578 $ 2,914,553 Criticized—compromised 5,527 10,911 9,860 26,298 Classified—substandard 3,232 35,736 14,440 53,408 Classified—doubtful — — — — Total $ 344,748 $ 1,911,633 $ 737,878 $ 2,994,259 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 $20.6 million at December 31, 2016 and $15.8 million at December 31, 2015, of which $3.4 and $3.1 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. Acquired YCB Loans 310-20 Loans acquired with deteriorated credit quality with a book value of $11.1 million and contractually required payments of $13.3 million were recorded at their estimated fair value of $7.1 million, of which $2.7 million were accounted for under the cost recovery method in accordance with ASC 310-30 non-accrual. non-accretable At December 31, 2016, the carrying amount of loans acquired with deteriorated credit quality was $5.7 million, while the outstanding customer balance was $9.2 million. At December 31, 2016, no allowance for loan losses has been recognized related to the acquired impaired loans. Acquired ESB Loans The following table provides changes in accretable yield for all loans acquired with deteriorated credit quality: For the Years Ended (in thousands) December 31, December 31, Balance at beginning of period $ 1,206 $ — Acquisitions 837 1,815 Reduction due to change in projected cash flows (484 ) — Reclass from non-accretable 1,065 — Transfers out (328 ) — Accretion (579 ) (609 ) Balance at end of period $ 1,717 $ 1,206 The following tables summarize the age analysis of all categories of loans. Age Analysis of Loans (in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total 90 Days or More As of December 31, 2016 Commercial real estate: Land and construction $ 496,245 $ — $ — $ 294 $ 294 $ 496,539 $ — Improved property 2,367,790 1,154 363 7,665 9,182 2,376,972 318 Total commercial real estate 2,864,035 1,154 363 7,959 9,476 2,873,511 318 Commercial and industrial 1,082,390 2,508 1,011 2,209 5,728 1,088,118 229 Residential real estate 1,365,956 6,701 1,043 9,690 17,434 1,383,390 1,922 Home equity 502,087 2,358 862 3,052 6,272 508,359 626 Consumer 390,354 3,674 1,149 881 5,704 396,058 644 Total portfolio loans 6,204,822 16,395 4,428 23,791 44,614 6,249,436 3,739 Loans held for sale 17,315 — — — — 17,315 — Total loans $ 6,222,137 $ 16,395 $ 4,428 $ 23,791 $ 44,614 $ 6,266,751 $ 3,739 Impaired loans included above are as follows: Non-accrual $ 7,570 $ 3,479 $ 923 $ 19,812 24,214 $ 31,784 TDRs accruing interest (1) 7,014 342 50 240 632 7,646 Total impaired $ 14,584 $ 3,821 $ 973 $ 20,052 $ 24,846 $ 39,430 As of December 31, 2015 Commercial real estate: Land and construction $ 344,184 $ — $ — $ 564 $ 564 $ 344,748 $ — Improved property 1,901,466 909 1,097 8,161 10,167 1,911,633 — Total commercial real estate 2,245,650 909 1,097 8,725 10,731 2,256,381 — Commercial and industrial 734,660 298 714 2,206 3,218 737,878 33 Residential real estate 1,234,839 1,389 2,871 8,701 12,961 1,247,800 2,159 Home equity 412,450 2,252 314 1,873 4,439 416,889 407 Consumer 401,242 4,115 764 773 5,652 406,894 527 Total portfolio loans 5,028,841 8,963 5,760 22,278 37,001 5,065,842 3,126 Loans held for sale 7,899 — — — — 7,899 — Total loans $ 5,036,740 $ 8,963 $ 5,760 $ 22,278 $ 37,001 $ 5,073,741 $ 3,126 Impaired loans included above are as follows: Non-accrual $ 11,349 $ 943 $ 2,147 $ 18,942 $ 22,032 $ 33,381 TDRs accruing interest (1) 10,710 390 238 210 838 11,548 Total impaired $ 22,059 $ 1,333 $ 2,385 $ 19,152 $ 22,870 $ 44,929 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. The following tables summarize impaired loans: Impaired Loans December 31, 2016 December 31, 2015 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ 1,212 $ 766 $ — $ 2,126 $ 1,990 $ — Improved property 9,826 8,141 — 14,817 10,559 — Commercial and industrial 4,456 3,181 — 4,263 3,481 — Residential real estate 20,152 18,305 — 18,560 16,688 — Home equity 4,589 4,011 — 3,562 3,033 — Consumer 884 744 — 1,603 1,294 — Total impaired loans without a specific allowance 41,119 35,148 — 44,931 37,045 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 3,012 470 3,012 3,012 668 Commercial and industrial 4,875 1,270 407 6,176 4,872 853 Total impaired loans with a specific allowance 7,887 4,282 877 9,188 7,884 1,521 Total impaired loans $ 49,006 $ 39,430 $ 877 $ 54,119 $ 44,929 $ 1,521 (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 Year Ended For the Year Ended For the Year Ended (in thousands) Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ 993 $ — $ 2,156 $ 41 $ 1,977 $ 35 Improved property 9,128 115 17,192 437 17,669 441 Commercial and industrial 3,188 9 2,979 170 3,561 103 Residential real estate 17,021 308 17,876 862 18,829 855 Home equity 3,502 20 2,924 90 2,356 75 Consumer 909 8 1,199 105 1,122 97 Total impaired loans without a specific allowance 34,741 460 44,326 1,705 45,514 1,606 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 — 5,896 — 2,795 348 Commercial and industrial 3,214 — 3,579 292 2,075 95 Total impaired loans with a specific allowance 6,226 — 9,475 292 4,870 443 Total impaired loans $ 40,967 $ 460 $ 53,801 $ 1,997 $ 50,384 $ 2,049 The following tables present the recorded investment in non-accrual Non-accrual (in thousands) December 31, December 31, Commercial real estate: Land and construction $ 766 $ 1,023 Improved property 9,535 11,507 Total commercial real estate 10,301 12,530 Commercial and industrial 4,299 8,148 Residential real estate 12,994 9,461 Home equity 3,538 2,391 Consumer 652 851 Total $ 31,784 $ 33,381 (1) At December 31, 2016, there were two borrowers with loans greater than $1.0 million totaling $4.3 million. Total non-accrual non-accrual TDRs December 31, 2016 December 31, 2015 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ 8 $ 8 $ 967 $ 431 $ 1,398 Improved property 1,618 688 2,306 2,064 1,442 3,506 Total commercial real estate 1,618 696 2,314 3,031 1,873 4,904 Commercial and industrial 152 151 303 205 282 487 Residential real estate 5,311 2,212 7,523 7,227 2,060 9,287 Home equity 473 297 770 642 218 860 Consumer 92 190 282 443 184 627 Total $ 7,646 $ 3,546 $ 11,192 $ 11,548 $ 4,617 $ 16,165 As of December 31, 2016, there were no TDRs greater than $1.0 million. The concessions granted in the majority of loans reported as accruing and non-accrual The following table presents details related to loans identified as TDRs during the years ended December 31, 2016 and 2015: New TDRs (1) For the Year Ended December 31, 2016 New TDRs (1) For the Year Ended December 31, 2015 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — 3 $ 128 $ 115 Improved property — — — 5 1,084 603 Total commercial real estate — — — 8 1,212 718 Commercial and industrial 2 125 120 1 57 43 Residential real estate 4 178 166 7 456 426 Home equity 1 44 40 1 7 6 Consumer 14 98 74 7 69 58 Total 21 $ 445 $ 400 24 $ 1,801 $ 1,251 (1) Excludes loans that were either paid off or charged-off pre-modification The following table summarizes TDRs which defaulted (defined as past due 90 days) during the years ended December 31, 2016 and 2015 that were restructured within the last twelve months prior to December 31, 2016 and 2015: Defaulted TDRs (1) For the Year Ended Defaulted TDRs (1) For the Year Ended (dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — 2 370 Total commercial real estate — — 2 370 Commercial and industrial — — — — Residential real estate — — 1 22 Home equity — — — — Consumer 1 16 — — Total 1 $ 16 3 $ 392 (1) Excludes loans that were either charged-off TDRs that defaulted during the twelve month period that were restructured during the twelve months ended December 31, 2016 represented 0.1% of the total TDR balance at December 31, 2016. These loans are placed on non-accrual The following table summarizes the recognition of interest income on impaired loans: For the years ended December 31, (in thousands) 2016 2015 2014 Average impaired loans $ 40,967 $ 53,801 $ 50,384 Amount of contractual interest income on impaired loans 2,747 3,061 3,260 Amount of interest income recognized on impaired loans 460 1,997 2,049 The following table summarizes other real estate owned and repossessed assets included in other assets: December 31, (in thousands) 2016 2015 Other real estate owned $ 8,206 $ 5,669 Repossessed assets 140 156 Total other real estate owned and repossessed assets $ 8,346 $ 5,825 At December 31, 2016, other real estate owned included $3.1 million from the YCB acquisition. Residential real estate included in other real estate owned at December 31, 2016 and December 31, 2015 was $1.6 million and $2.0 million, respectively. At December 31, 2016, formal foreclosure proceedings were in process on residential real estate loans totaling $4.1 million. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 6. PREMISES AND EQUIPMENT Premises and equipment include: December 31, (in thousands) 2016 2015 Land and improvements $ 43,059 $ 32,665 Buildings and improvements 136,546 121,645 Furniture and equipment 72,050 71,959 Total cost 251,655 226,269 Accumulated depreciation and amortization (118,358 ) (114,066 ) Total premises and equipment, net $ 133,297 $ 112,203 Depreciation and amortization expense of premises and equipment charged to operations for the years ended December 31, 2016, 2015 and 2014 was $9.2 million, $8.1 million and $7.4 million, respectively. WesBanco leases certain premises and equipment under non-cancellable Future minimum lease payments under non-cancellable in thousands Year Amount 2017 $ 4,340 2018 3,366 2019 2,823 2020 2,694 2021 2,221 2022 and thereafter 14,649 Total $ 30,093 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS WesBanco’s Consolidated Balance Sheets include goodwill of $573.8 million and $480.6 million at December 31, 2016 and 2015, respectively all of which relates to the Community Banking segment. WesBanco’s other intangible assets of $19.4 million and $10.3 million at December 31, 2016 and 2015, respectively, primarily consist of core deposit and other customer list intangibles which have finite lives and are amortized using straight line and accelerated methods. WesBanco recognized $92.9 million in goodwill and $12.0 million in core deposit intangibles in connection with the YCB acquisition and $168.8 million in goodwill and $5.3 million in core deposit intangibles in connection with the ESB acquisition. Other intangible assets are being amortized over estimated useful lives ranging from ten to sixteen years. Amortization of core deposit and customer list intangible assets totaled $2.9 million, $2.4 million and $1.9 million for the years ended December 31, 2016, 2015 and 2014, respectively. WesBanco completed its annual goodwill impairment evaluation as of November 30, 2016 and determined that goodwill was not impaired as of December 31, 2016 as there were no significant changes in market conditions, consolidated operating results, or forecasted future results from November 30, 2016. Additionally, there were no events or changes in circumstances indicating impairment of intangible assets as of December 31, 2016. The following table shows WesBanco’s capitalized other intangible assets and related accumulated amortization: December 31, (in thousands) 2016 2015 Other intangible assets: Gross carrying amount $ 37,725 $ 28,674 Accumulated amortization (18,341 ) (18,338 ) Net carrying amount of other intangible assets $ 19,384 $ 10,336 The following table shows the amortization on WesBanco’s other intangible assets for each of the next five years ( in thousands Year Amount 2017 $ 4,066 2018 3,543 2019 3,037 2020 2,564 2021 2,122 As part of the YCB and ESB acquisitions, WesBanco entered into non-compete non-compete non-compete |
Investments in Limited Partners
Investments in Limited Partnerships | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Investments in Limited Partnerships | NOTE 8. INVESTMENTS IN LIMITED PARTNERSHIPS WesBanco is a limited partner in several tax-advantaged low-income low-income low-income WesBanco is also a limited partner in seven other limited partnerships which provide seed money and capital to startup companies, and financing to low-income In connection with WesBanco’s acquisition of ESB on February 10, 2015, WesBanco acquired ESB’s wholly-owned subsidiary AMSCO, Inc. (“AMSCO”), which engages in the management of certain real estate development and construction of 1-4 non-interest |
Certificates of Deposit
Certificates of Deposit | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Certificates of Deposit | NOTE 9. CERTIFICATES OF DEPOSIT Certificates of deposit in denominations of $100 thousand or more were $681.5 million and $780.1 million as of December 31, 2016 and 2015, respectively. Interest expense on certificates of deposit of $100 thousand or more was $5.0 million, $4.9 million and $7.5 million for the years ended December 31, 2016, 2015 and 2014, respectively. At December 31, 2016, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2017 $ 840,796 2018 265,666 2019 134,905 2020 135,763 2021 82,743 2022 and thereafter 35,949 Total $ 1,495,822 |
FHLB and Other Short-Term Borro
FHLB and Other Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
FHLB and Other Short-Term Borrowings | NOTE 10. FHLB AND OTHER SHORT-TERM BORROWINGS WesBanco is a member of the FHLB system. WesBanco’s FHLB borrowings, which consist of borrowings from both the FHLB of Pittsburgh and the FHLB of Cincinnati, are secured by a blanket lien by the FHLB on certain residential mortgages and other loan types or securities with a market value in excess of the outstanding balances of the borrowings. At December 31, 2016 and 2015, WesBanco had FHLB borrowings of $968.9 million and $1,041.8 million, with a remaining weighted-average interest rate of 1.19% and 1.17%, respectively. The terms of the security agreement with the FHLB include a specific assignment of collateral that requires the maintenance of qualifying mortgage and other types of loans as pledged collateral with unpaid principal amounts in excess of the FHLB advances, when discounted at certain pre-established The following table presents the aggregate annual maturities and weighted-average interest rates of FHLB borrowings at December 31, 2016 based on their contractual maturity dates and interest rates (dollars in thousands) Year Scheduled Weighted 2017 $ 649,756 1.11 % 2018 310,998 1.32 % 2019 4,600 3.72 % 2020 1,105 4.40 % 2021 314 5.25 % 2022 and thereafter 2,173 1.43 % Total $ 968,946 1.19 % Other short-term borrowings of $199.4 million and $81.4 million at December 31, 2016, and 2015, respectively, consist of securities sold under agreements to repurchase, federal funds purchased, and outstanding borrowings on a revolving line of credit. At December 31, 2016 and 2015, securities sold under agreements to repurchase were $141.4 million and $81.4 million, with a weighted average interest rate during the year of 0.38% and 0.32%, respectively. There were $58.0 million in outstanding balances of fed funds purchased at December 31, 2016 with an interest rate of 0.85%. There were no outstanding balances of fed funds purchased at December 31, 2015. In September 2016, WesBanco renewed a revolving line of credit, which is a senior obligation of the parent company with another financial institution. This line of credit, which accrues interest at an adjusted LIBOR rate, provides for aggregate unsecured borrowings of up to $25.0 million. There were no outstanding balances as of December 31, 2016 or 2015. |
Subordinated Debt and Junior Su
Subordinated Debt and Junior Subordinated Debt | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Subordinated Debt and Junior Subordinated Debt | NOTE 11. SUBORDINATED DEBT AND JUNIOR SUBORDINATED DEBT WesBanco had $26.0 million of subordinated debt outstanding at December 31, 2016 that was issued by the former YCB, acquired by WesBanco in 2016. These notes have a fixed rate of 6.25%, mature on December 15, 2025, and are callable on December 15, 2020. The interest rate will become a variable rate equal to 3-month The Trusts, consisting of WesBanco Capital Trust II, WesBanco Capital Statutory Trust III, WesBanco Capital Trusts IV, V and VI, Oak Hill Capital Trusts 2, 3 and 4, Community Bank Shares Statutory Trusts I and II, and First Federal Statutory Trusts II and III are all wholly-owned trust subsidiaries of WesBanco formed for the purpose of issuing Trust Preferred Securities (“Trust Preferred Securities”) into a pool of other financial services entity trust preferred securities, and lending the proceeds to WesBanco. The Trust Preferred Securities were issued and sold in private placement offerings. The proceeds from the sale of the securities and the issuance of common stock by the Trusts were invested in Junior Subordinated Deferrable Interest Debentures (“Junior Subordinated Debt”) issued by WesBanco, the former Oak Hill Financial, Inc., acquired by WesBanco in 2007, and the former YCB, acquired by WesBanco in 2016, which are the sole assets of the Trusts. The Trusts pay dividends on the Trust Preferred Securities at the same rate as the distributions paid by WesBanco on the Junior Subordinated Debt held by the Trusts. The Trusts provide WesBanco with the option to defer payment of interest on the Junior Subordinated Debt for an aggregate of 20 consecutive quarterly periods. Should any of these options be utilized, WesBanco may not declare or pay dividends on its common stock during any such period. Undertakings made by WesBanco with respect to the Trust Preferred Securities for the Trusts constitute a full and unconditional guarantee by WesBanco of the obligations of these Trust Preferred Securities. WesBanco organized Trusts II and III in June 2003, Trusts IV and V in June 2004 and Trust VI in March 2005. The Oak Hill Trusts 2 and 3 were organized in 2004 and Trust 4 was organized in 2005. The Community Bank Trust I was organized in 2004, and Trust II was organized in 2006. The First Federal Trust II was organized in 2007, and Trust III was organized in 2008. The Junior Subordinated Debt is presented as a separate category of long-term debt on the Consolidated Balance Sheets. For regulatory purposes, the Federal Reserve Board has allowed bank holding companies to include trust preferred securities in Tier 1 capital up to a certain limit. Provisions in the Dodd-Frank Act require the Federal Reserve Board to generally exclude trust preferred securities from Tier 1 capital, but a grandfather provision will permit bank holding companies with consolidated assets of less than $15 billion, such as WesBanco, to continue counting existing trust preferred securities as Tier 1 capital until they mature. All of the Trust Preferred Securities qualified under the current rules as Tier 1 instruments at December 31, 2016, but no such securities issued in the future will count as Tier 1 capital. The Trust Preferred Securities provide the issuer with a unique capital instrument that has a tax deductible interest feature not normally associated with the equity of a corporation. The following table shows WesBanco’s trust subsidiaries with outstanding Trust Preferred Securities as of December 31, 2016: (in thousands) Trust Common Junior Stated Optional WesBanco Capital Trust II (1) $ 13,000 $ 410 $ 13,410 6/30/2033 6/30/2008 WesBanco Capital Statutory Trust III (2) 17,000 526 17,526 6/26/2033 6/26/2008 WesBanco Capital Trust IV (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust V (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust VI (4) 15,000 464 15,464 3/17/2035 3/17/2010 Oak Hill Capital Trust 2 (5) 5,000 155 5,155 10/18/2034 10/18/2009 Oak Hill Capital Trust 3 (6) 8,000 248 8,248 10/18/2034 10/18/2009 Oak Hill Capital Trust 4 (7) 5,000 155 5,155 6/30/2035 6/30/2015 Community Bank Shares Statutory Trust I (3) 5,905 217 6,122 6/17/2034 6/17/2014 Community Bank Shares Statutory Trust II (8) 7,901 310 8,211 6/15/2036 6/15/2016 First Federal Statutory Trust II (9) 8,145 310 8,455 3/22/2037 3/15/2017 First Federal Statutory Trust III (10) 8,335 240 8,575 6/24/2038 6/24/2018 Total $ 133,286 $ 4,273 $ 137,559 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 4.15% through March 30, 2017, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 4.10% through March 26, 2017, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 3.64% through March 17, 2017, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 2.76% through March 17, 2017, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 3.28% through January 18, 2017, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 3.18% through January 18, 2017, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 2.60% through March 30, 2017, adjustable quarterly. (8) Variable rate based on the three-month LIBOR plus 1.70% with a current rate of 2.66% through March 15, 2017, adjustable quarterly. (9) Fixed rate of 6.69% through March 15, 2017, then variable rate based on the three-month LIBOR plus 1.60%. (10) Fixed rate of 8.00% through maturity, callable June 24, 2018 and thereafter at par. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | NOTE 12. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives WesBanco is exposed to certain risks arising from both its business operations and economic conditions. WesBanco principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. WesBanco manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. WesBanco’s existing interest rate derivatives result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in WesBanco’s assets or liabilities. WesBanco manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. A matched book is when the Bank’s assets and liabilities are equally distributed but also have similar maturities. In addition, commitments to fund certain mortgage loans (interest rate lock commitments) and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. WesBanco enters into such contracts in order to control interest rate risk during the period between the interest rate lock commitments and loan funding. The notional amount of the interest rate lock commitments and forward commitments was $19.5 million and $14.5 million at December 31, 2016 and 2015, respectively. The loss related to the fair value was $44 thousand and $20 thousand for the years ended December 31, 2016 and 2015, respectively. Fair Values of Derivative Instruments on the Balance Sheet All derivatives are carried on the consolidated balance sheet at fair value. Derivative assets are classified in the consolidated balance sheet under other assets, and derivative liabilities are classified in the consolidated balance sheet under other liabilities. Changes in fair value are recognized in earnings. The table below presents the fair value of WesBanco’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2016 and December 31, 2015: December 31, 2016 December 31, 2015 (in thousands) Asset Liability Asset Liability Derivatives not designated as hedging instruments Interest rate product $ 5,596 $ 5,199 $ 1,893 $ 1,991 Total derivatives not designated as hedging instruments $ 5,596 $ 5,199 $ 1,893 $ 1,991 Non-designated None of WesBanco’s derivatives are designated in qualifying hedging relationships under FASB ASC 815. Derivatives not designated as hedges are not speculative and result from a service WesBanco provides to certain customers. WesBanco executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that WesBanco executes with a third party, such that WesBanco minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements of FASB ASC 815, changes in the fair value of both the customer swaps and the offsetting third-party swaps are recognized directly in earnings. As of December 31, 2016 and 2015, WesBanco had 24 and 12 interest rate swaps with an aggregate notional amount of $206.9 and $69.6 million, respectively, related to this program. During the years ended December 31, 2016, 2015, and 2014, WesBanco recognized a net gain of $0.5 million and $3 thousand and a net loss of $0.2 million, respectively, related to the changes in fair value of these swaps. Additionally, WesBanco recognized $2.5 million, $0.2 million and $0.6 million income for the related swap fees for the years ended December 31, 2016, 2015, and 2014, respectively. Effect of Derivative Instruments on the Income Statement The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within the other non-interest For the Years Ended (in thousands) 2016 2015 2014 Derivatives not designated as hedging instruments Interest Rate Products $ 495 $ 3 $ (162 ) Total $ 495 $ 3 $ (162 ) Credit-risk-related Contingent Features WesBanco has agreements with its derivative counterparties that contain a provision where if WesBanco defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then WesBanco could also be declared in default on its derivative obligations. WesBanco also has agreements with certain of its derivative counterparties that contain a provision where if WesBanco fails to maintain its status as either a well or adequately capitalized institution, then the counterparty could terminate the derivative positions and WesBanco would be required to settle its obligations under the agreements. WesBanco has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral with a market value of $7.2 million as of December 31, 2016. If WesBanco had breached any of these provisions at December 31, 2016, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | NOTE 13. EMPLOYEE BENEFIT PLANS Defined Benefit Pension Plan— non-contributory, The benefit obligations and funded status of the Plan are as follows: December 31, (dollars in thousands) 2016 2015 Accumulated benefit obligation at end of year $ 104,775 $ 99,312 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 109,400 $ 118,261 Service cost 2,799 3,355 Interest cost 5,094 4,870 Actuarial (gain) loss 2,569 (13,413 ) Acquisition 1,392 — Benefits paid (5,796 ) (3,673 ) Projected benefit obligation at end of year $ 115,458 $ 109,400 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 113,292 $ 110,037 Actual return on plan assets 7,125 (572 ) Employer contribution 5,750 7,500 Acquisition 1,226 — Benefits paid (5,796 ) (3,673 ) Fair value of plan assets at end of year $ 121,597 $ 113,292 Amounts recognized in the statement of financial position: Funded status $ 6,139 $ 3,892 Net amounts recognized as receivable pension costs in the consolidated balance sheets $ 6,139 $ 3,892 Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 130 $ 156 Unrecognized net loss 27,857 27,549 Net amounts recognized in accumulated other comprehensive income (before tax) $ 27,987 $ 27,705 Weighted average assumptions used to determine benefit obligations: Discount rate 4.46 % 4.74 % Rate of compensation increase 3.74 % 3.82 % Expected long-term return on assets 6.30 % 6.79 % The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: For the years ended (dollars in thousands) 2016 2015 2014 Components of net periodic benefit cost: Service cost—benefits earned during year $ 2,799 $ 3,355 $ 2,909 Interest cost on projected benefit obligation 5,094 4,870 4,745 Expected return on plan assets (7,719 ) (7,735 ) (7,229 ) Amortization of prior service cost 26 26 45 Amortization of net loss 3,020 3,179 1,471 Net periodic pension cost $ 3,220 $ 3,695 $ 1,941 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ 3,329 $ (5,106 ) $ 24,934 Amortization of prior service cost (26 ) (26 ) (45 ) Amortization of net loss (3,020 ) (3,179 ) (1,471 ) Total recognized in other comprehensive income $ 283 $ (8,311 ) $ 23,418 Total recognized in net periodic pension cost and other comprehensive income $ 3,503 $ (4,616 ) $ 25,359 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.74 % 4.33 % 5.17 % Rate of compensation increase 3.82 % 3.77 % 3.97 % Expected long-term return on assets 6.79 % 7.00 % 7.25 % On December 31, 2016, WesBanco changed the method used to estimate the service and interest components of net periodic benefit cost for pension benefits. This change compared to the previous method will result in a decrease in the service and interest components for pension cost. Historically, WesBanco estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. WesBanco has elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. The change has been made to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of the plan’s total benefit obligations as the change in the service and interest costs is completely offset in the actuarial (gain) loss reported. Based on current economic conditions, we estimate the service cost and interest cost for the plan will be reduced by approximately $1.0 million in 2017 as a result of this change. WesBanco will account for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly will account for it prospectively. The estimated net loss and prior service credit for the Plan that will be amortized from accumulated other comprehensive income into the net periodic pension cost over the next fiscal year are $3.1 million and $26 thousand, respectively. Unrecognized prior service cost and unrecognized net losses are amortized on a straight-line basis. All unrecognized net losses are being amortized over the average remaining service period of approximately 9 years. The expected long-term rate of return for the Plan’s total assets is based on the expected return of each of the Plan asset categories, weighted based on the median of the target allocation for each class. Pension Plan Investment Policy and Strategy— A maximum of 5% may be invested in any one stock. Foreign stocks may be included, either through direct investment or by the purchase of mutual funds which invest in foreign stock. WesBanco common stock can represent up to 5% of the total market value. Corporate bonds selected for purchase must be rated Baa1 by Moody’s or BBB+ by Standard and Poor’s or higher. No more than 5% shall be invested in bonds or notes issued by the same corporation with a maximum term of twenty years. There is no limit on the holdings of U.S. Treasury or Federal Agency Securities. At December 31, 2016 and 2015, the Plan’s equity securities included 55,300 shares of WesBanco common stock with a fair market value of $2.4 million and $1.7 million, respectively. The following table sets forth the Plan’s weighted-average asset allocations by asset category: Target Allocation for 2016 December 31, 2016 2015 Asset Category: Equity securities 55-75 % 62 % 61 % Debt securities 25-55 % 35 % 34 % Cash and cash equivalents 0-5 % 3 % 5 % Total 100 % 100 % The fair values of WesBanco’s pension plan assets at December 31, 2016 and 2015, by asset category are as follows: December 31, 2016 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 21,935 $ 21,935 $ — $ — Equity securities 60,144 60,144 — — Corporate debt securities 18,110 — 18,110 — Municipal obligations 2,998 — 2,998 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 17,176 — 17,176 — Total defined benefit pension plan assets (1) $ 120,363 $ 82,079 $ 38,284 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $121.6 million. December 31, 2015 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 23,741 $ 23,741 $ — $ — Equity securities 56,098 56,098 — — Corporate debt securities 16,802 — 16,802 — Municipal obligations 3,034 — 3,034 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 15,386 — 15,386 — Total defined benefit pension plan assets (1) $ 115,061 $ 79,839 $ 35,222 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $113.3 million. Registered investment companies and equity securities Corporate debt securities, municipal obligations, and U.S. government agency securities Cash Flows— The following table presents estimated benefits to be paid in each of the next five years and in the aggregate for the five years thereafter ( in thousands Year Amount 2017 $ 3,903 2018 4,150 2019 4,409 2020 4,748 2021 5,212 2022 to 2026 31,684 On September 9, 2016, WesBanco assumed YCB’s obligation for a predecessor bank’s participation in the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra Plan”). The participating employer plan has been frozen to new participants since 2002. WesBanco is in the process of spinning off the assets from the Pentegra Plan, contributing approximately $3.3 million to satisfy the estimated final costs to do so. This estimated spin off will have no impact on earnings as the liability was included in YCB’s balance sheet as of the acquisition date. The distributed assets from the Pentegra Plan will be transferred to a plan providing substantially the same benefits to the participants. WesBanco also assumed YCB’s single employer pension plan that was amended in 1997 such that there could be no new participants or increases to existing participants. This plan was merged into the WesBanco Defined Benefit Pension Plan as of December 31, 2016, with plan assets of $1.2 million and projected benefit obligations of $1.4 million. Employee Stock Ownership and 401(k) Plan (“KSOP”)— non-contributory As of December 31, 2016, the KSOP held 508,066 shares of WesBanco common stock of which all shares were allocated to specific employee accounts. Dividends on shares are either distributed to employee accounts or paid in cash to the participant. Total expense for the KSOP was $2.8 million, $2.5 million, and $2.2 million in 2016, 2015 and 2014, respectively. WesBanco had 445,978 and 484,430 shares registered on Form S-8 Incentive Bonus, Option and Restricted Stock Plan— non-qualified S-8, Annual Bonus Compensation expense for the Annual Bonus was $1.6 million, $1.3 million and $1.5 million for 2016, 2015, and 2014, respectively. There was no Long-Term Incentive Bonus granted for any of these periods. Total Shareholder Return Plan On November 18, 2015, WesBanco’s Compensation Committee adopted Administrative Rules for a Total Shareholder Return Plan (“TSRP”). The TSRP measures the TSR on WesBanco common stock over a three-year measurement period relative to the return of an established peer group of publicly traded companies over the same performance period. The award is determined at the end of the three-year period if the TSR of WesBanco common stock is equal to or greater than the 50 th percentile of the TSR of the peer group. The number of shares to be earned by the participant shall be 200% of the grant-date award if the TSR of WesBanco common stock is equal to or greater than the 75 th percentile of the TSR of the peer group. Upon achieving the market-based metric, shares determined to be earned by the participant become service-based and vest in three equal annual installments. No TSRP shares were granted in 2016. In late 2015, WesBanco granted 12,000 TSRP shares for the performance period beginning January 1, 2016 and ending December 31, 2018 to certain executive officers. Stock Options On May 25, 2016, WesBanco granted 96,600 stock options to selected participants, including certain named executive officers at an exercise price of $32.37 per share. The options granted in 2016 are service-based and vest in two equal installments on December 31, 2016 and December 31, 2017, and expire seven years from the date of grant. Compensation expense for the stock option component of the Incentive Plan was $0.5 million, $0.5 million and $0.4 million for 2016, 2015 and 2014, respectively. At December 31, 2016, the total unrecognized compensation expense related to non-vested The total intrinsic value of options exercised was $1.2 million and $0.6 million for the years ended December 31, 2016 and 2015, respectively. The cash received and related tax benefit realized from stock options exercised was $2.5 million and $0.4 million in 2016 and was $1.4 million and $0.2 million in 2015. Shares issued in connection with options exercised are issued from treasury shares acquired under WesBanco’s share repurchase plans or from issuance of authorized but unissued shares, subject to prior SEC registration. The fair value of stock options granted is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that might otherwise have a significant effect on the value of stock options granted that are not considered by the model. The following table sets forth the significant assumptions used in calculating the fair value of the grants: For the years ended December 31, 2016 2015 2014 Weighted-average life 5.1 years 4.9 years 4.8 years Risk-free interest rate 1.43 % 1.54 % 1.37 % Dividend yield 2.97 % 2.91 % 3.06 % Volatility factor 23.92 % 26.27 % 28.82 % Fair value of the grants $ 5.09 $ 5.57 $ 5.41 The weighted-average life assumption is an estimate of the length of time that an employee might hold an option before option exercise, option expiration or employment termination. The weighted-average life assumption was developed using historical experience. WesBanco used a weighted historical volatility of its common stock price over the weighted average life prior to each issuance as the volatility factor assumption, adjusted for abnormal volatility during certain periods, and current and future dividend payment expectations for the dividend assumption. The following table shows the activity for the Stock Option component of the Incentive Plan: For the year ended December 31, 2016 Number of Options Weighted Average Exercise Price Per Share Outstanding at beginning of the year 287,500 $ 27.02 Granted during the year 96,600 32.37 Exercised during the year (101,190 ) 24.58 Forfeited or expired during the year (6,788 ) 30.09 Outstanding at end of the year 276,122 $ 29.71 Exercisable at year end 228,272 $ 29.15 The aggregate intrinsic value of the outstanding shares and the shares exercisable at year-end The following table shows the average remaining life of the stock options at December 31, 2016: Year Issued Exercisable at Year End Exercise Price Range Per Options Outstanding Weighted Average Exercise Price Weighted Avg. Remaining Contractual Life in Years 2010 3,234 $ 19.27 3,234 $ 19.27 0.38 2011 6,250 19.76 6,250 19.76 1.38 2012 12,000 20.02 12,000 20.02 2.37 2013 30,750 25.00 30,750 25.00 3.37 2014 49,550 28.79 49,550 28.79 4.39 2015 78,638 31.58 78,638 31.58 5.42 2016 47,850 32.37 95,700 32.37 6.40 Total 228,272 $ 19.27 to $32.37 276,122 $ 29.71 5.06 Restricted Stock During 2016, WesBanco granted 76,400 shares of restricted stock to certain officers. The restricted shares are service-based and cliff vest 36 months from the date of grant. The weighted average fair value of the restricted stock granted was $32.45 per share. Compensation expense relating to all restricted stock was $1.4 million, $1.2 million, and $1.0 million in 2016, 2015 and 2014, respectively. At December 31, 2016, the total unrecognized compensation expense related to non-vested The following table shows the activity for the Restricted Stock component of the Incentive Plan: For the year ended December 31, 2016 Restricted Weighted Non-vested 143,456 $ 28.92 Granted during the year 76,400 32.45 Vested during the year (52,485 ) 26.35 Forfeited or expired during the year (1,725 ) 30.92 Dividend reinvestment 4,836 33.43 Non-vested 170,482 $ 31.40 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Other Operating Expenses | NOTE 14. OTHER OPERATING EXPENSES Other operating expenses consist of miscellaneous taxes, consulting fees, ATM expenses, postage, supplies, legal fees, communications, other real estate owned and foreclosure expenses, and other expenses. Other operating expenses are presented below: For the years ended December 31, (in thousands) 2016 2015 2014 Franchise and other miscellaneous taxes $ 6,825 $ 5,924 $ 6,748 Consulting, regulatory and advisory fees 6,270 4,959 4,405 ATM and electronic banking interchange expenses 4,297 4,463 4,222 Postage and courier expenses 3,306 3,720 3,373 Supplies 2,919 2,841 2,425 Legal fees 2,406 2,418 2,531 Communications 1,800 1,537 1,555 Other real estate owned and foreclosure expenses 1,210 546 1,101 Other 11,967 12,479 10,836 Total other operating expenses $ 41,000 $ 38,887 $ 37,196 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 15. INCOME TAXES Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows: For the years ended 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % Net tax-exempt (7.0 %) (6.8 %) (6.4 %) State income taxes, net of federal tax effect 1.4 % 1.6 % 1.4 % Bank-owned life insurance (1.2 %) (1.6 %) (1.7 %) General business credits (2.1 %) (2.1 %) (3.1 %) All other—net 0.3 % (0.1 %) 0.1 % Effective tax rate 26.4 % 26.0 % 25.3 % The provision for income taxes applicable to income before taxes consists of the following: For the years ended December 31, (in thousands) 2016 2015 2014 Current: Federal $ 18,053 $ 15,661 $ 13,346 State 2,159 2,089 1,684 Deferred: Federal 10,519 10,047 8,337 State 305 618 353 Total $ 31,036 $ 28,415 $ 23,720 The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income: For the years ended (in thousands) 2016 2015 2014 Securities and defined benefit pension plan unrecognized items $ (3,480 ) $ (1,202 ) $ (3,538 ) Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2016 2015 2014 Deferred tax assets: Allowance for loan losses $ 16,198 $ 15,246 $ 16,386 Compensation and benefits 5,444 6,114 8,764 Security gains and losses 2,854 2,964 2,817 Purchase accounting adjustments — 1,275 1,497 Partnership adjustments — 1,921 1,158 Non-accrual 2,392 2,254 2,129 Tax credit carryforwards 12,744 13,580 10,163 Federal net operating loss carryforwards 12,020 — 597 Fair value adjustments on securities available-for-sale 5,394 1,979 — Other 5,194 2,264 2,169 Gross deferred tax assets 62,240 47,597 45,680 Deferred tax liabilities: Depreciation and amortization (3,448 ) (1,530 ) (1,900 ) Accretion on securities (421 ) (2 ) (295 ) Fair value adjustments on securities available-for-sale — — (2,297 ) Purchase accounting adjustments (149 ) — — Partnership adjustments (1,128 ) — — Other (2,519 ) (1,511 ) (1,728 ) Gross deferred tax liabilities (7,665 ) (3,043 ) (6,220 ) Net deferred tax assets $ 54,575 $ 44,554 $ 39,460 WesBanco has a $0.1 million valuation allowance on certain capital loss carryforwards. However, no valuation allowance was established for the remaining deferred tax assets since management believes that deferred tax assets are likely to be realized through a carry-back to taxable income in prior years, future reversals of existing taxable temporary differences and future taxable income. Under the provisions of the Internal Revenue Code, WesBanco has approximately $3.0 million of general business credit carryforwards which expire between 2031 and 2033. WesBanco also has $9.8 million of alternative minimum tax credits that may be carried forward indefinitely. As a results of the acquisition of YCB, WesBanco has federal net operating loss carryforwards of $31.0 million, which expire between 2030 and 2036; and Indiana net operating loss carryforwards of $27.9 million, which expire between 2027 and 2035. As a result of the acquisition of YCB in 2016, and the previous acquisitions of ESB, Fidelity, Western Ohio Financial Corporation, Winton Financial Corporation and Oak Hill Financial, Inc., retained earnings at December 31, 2016 and 2015 includes $45.9 million and $32.9 million, respectively, of qualifying and non-qualifying Federal and state income taxes applicable to securities transactions totaled $0.9 million, $0.3 million, and $0.3 million for the years ended December 31, 2016, 2015 and 2014, respectively. At December 31, 2016 and 2015, WesBanco had approximately $0.4 million and $0.3 million, respectively, of unrecognized tax benefits and interest. As of December 31, 2016, $0.4 million of these tax benefits would affect the effective tax rate if recognized. At December 31, 2016 and December 31, 2015, accrued interest related to uncertain tax positions was $22 thousand and $15 thousand, respectively, net of the related federal tax benefit. WesBanco provides for interest and penalties related to uncertain tax positions as part of its provision for federal and state income taxes. WesBanco is subject to U.S. federal income tax as well as to tax in various state income tax jurisdictions. WesBanco, ESB and YCB are no longer subject to any income tax examinations for years prior to 2013. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: For the years ended (in thousands) 2016 2015 2014 Balance at beginning of year $ 326 $ 701 $ 673 Additions based on tax positions related to the current year 110 104 155 Reductions for tax positions of prior years — (100 ) — Reductions due to the statute of limitations — (379 ) (127 ) Settlements — — — Balance at end of year $ 436 $ 326 $ 701 |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 16. 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: Investment securities: over-the-counter Derivatives: WesBanco determines the fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity, and uses observable market based inputs, including interest rate curves and implied volatilities. WesBanco incorporates credit valuation adjustments to appropriately reflect both its own non-performance non-performance We may be required from time to time to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or write-downs of individual assets and liabilities. Impaired loans: Other real estate owned and repossessed assets: Loans held for sale: Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. 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 December 31, 2016 and 2015: (in thousands) December 31, Quoted Prices in (level 1) Significant Significant Investments Recurring fair value measurements Trading securities $ 7,071 $ 5,633 $ — $ — $ 1,438 Securities—available-for-sale U.S. Government sponsored entities and agencies 54,043 — 54,043 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,035,099 — 1,035,099 — — Obligations of state and political subdivisions 111,663 — 111,663 — — Corporate debt securities 35,301 — 35,301 — — Equity securities 5,070 2,938 2,132 — — Total securities—available-for-sale $ 1,241,176 $ 2,938 $ 1,238,238 $ — $ — Other assets—interest rate derivatives agreements $ 5,596 $ — $ 5,596 $ — $ — Total assets recurring fair value measurements $ 1,253,843 $ 8,571 $ 1,243,834 $ — $ 1,438 Other liabilities—interest rate derivatives agreements $ 5,199 $ — $ 5,199 $ — $ — Total liabilities recurring fair value measurements $ 5,199 $ — $ 5,199 $ — $ — Nonrecurring fair value measurements Impaired loans $ 3,405 $ — $ — $ 3,405 $ — Other real estate owned and repossessed assets 8,346 — — 8,346 — Loans held for sale 17,315 — 17,315 — — Total nonrecurring fair value measurements $ 29,066 $ — $ 17,315 $ 11,751 $ — December 31, 2015 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Recurring fair value measurements Trading securities $ 6,451 $ 5,226 $ — $ — $ 1,225 Securities—available-for-sale U.S. Government sponsored entities and agencies 83,505 — 83,505 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,176,080 — 1,176,080 — — Obligations of state and political subdivisions 80,265 — 80,265 — — Corporate debt securities 58,593 — 58,593 — — Equity securities 4,626 2,735 1,891 — — Total securities—available-for-sale $ 1,403,069 $ 2,735 $ 1,400,334 $ — $ — Other assets—interest rate derivatives agreements $ 1,893 $ — $ 1,893 $ — $ — Total assets recurring fair value measurements $ 1,411,413 $ 7,961 $ 1,402,227 $ — $ 1,225 Other liabilities—interest rate derivatives agreements $ 1,991 $ — $ 1,991 $ — $ — Total liabilities recurring fair value measurements $ 1,991 $ — $ 1,991 $ — $ — Nonrecurring fair value measurements Impaired loans $ 6,363 $ — $ — $ 6,363 $ — Other real estate owned and repossessed assets 5,825 — — 5,825 — Loans held for sale 7,899 — 7,899 — — Total nonrecurring fair value measurements $ 20,087 $ — $ 7,899 $ 12,188 $ — 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 levels 1, 2, or 3 for the years ended December 31, 2016 and 2015. 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 (in thousands) Fair Value Valuation Techniques Unobservable Input Range / Weighted Average December 31, 2016: Impaired loans $ 3,405 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (70.0%) / (36.6%) Liquidation expenses (2) (1.5%) to (8.0%) / (4.6%) Other real estate owned and repossessed assets 8,346 Appraisal of collateral (1)(3) December 31, 2015: Impaired loans $ 6,363 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (40.6%) / (25.1%) Liquidation expenses (2) (3.0%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,825 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: Carrying Fair Value Fair Value Measurements at December 31, 2016 (in thousands) Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 128,170 $ 128,170 $ 128,170 $ — $ — $ — Trading securities 7,071 7,071 5,633 — — 1,438 Securities available-for-sale 1,241,176 1,241,176 2,938 1,238,238 — — Securities held-to-maturity 1,067,967 1,076,790 — 1,076,189 601 — Net loans 6,205,762 6,073,558 — — 6,073,558 — Loans held for sale 17,315 17,315 — 17,315 — — Other assets—interest rate derivatives 5,596 5,596 — 5,596 — — Accrued interest receivable 28,299 28,299 28,299 — — — Financial Liabilities Deposits 7,040,879 7,052,501 5,545,057 1,507,444 — — Federal Home Loan Bank borrowings 968,946 974,430 — 974,430 — — Other borrowings 199,376 199,385 197,164 2,221 — — Subordinated debt and junior subordinated debt 163,598 134,859 — 134,859 — — Other liabilities—interest rate derivatives 5,199 5,199 — 5,199 — — Accrued interest payable 2,204 2,204 2,204 — — — Carrying Fair Value Fair Value Measurements at December 31, 2015 (in thousands) Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 86,685 $ 86,685 $ 86,685 $ — $ — $ — Trading securities 6,451 6,451 5,226 — — 1,225 Securities available-for-sale 1,403,069 1,403,069 2,735 1,400,334 — — Securities held-to-maturity 1,012,930 1,038,207 — 1,037,490 717 — Net loans 5,024,132 4,936,236 — — 4,936,236 — Loans held for sale 7,899 7,899 — 7,899 — — Other assets—interest rate derivatives 1,893 1,893 — 1,893 — — Accrued interest receivable 25,759 25,759 25,759 — — — Financial Liabilities Deposits 6,066,299 6,075,433 4,508,461 1,566,972 — — Federal Home Loan Bank borrowings 1,041,750 1,041,752 — 1,041,752 — — Other borrowings 81,356 81,361 78,682 2,679 — — Junior subordinated debt 106,196 79,681 — 79,681 — — Other liabilities—interest rate derivatives 1,991 1,991 — 1,991 — — Accrued interest payable 1,715 1,715 1,715 — — — 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: Securities held-to-maturity: held-to-maturity Net loans: Accrued interest receivable: . Deposits: Federal Home Loan Bank borrowings: Other borrowings: Subordinated debt and junior subordinated debt: Accrued interest payable: Off-balance Off-balance |
Comprehensive Income_(Loss)
Comprehensive Income/(Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Comprehensive Income/(Loss) | NOTE 17. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income/(loss) for the years ended December 31, 2016, 2015 and 2014 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Unrealized Gains (Losses) on Securities Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income/(loss) before reclassifications (2,112 ) (4,300 ) — (6,412 ) Amounts reclassified from accumulated other comprehensive income/(loss) 1,893 (1,428 ) (225 ) 240 Period change (219 ) (5,728 ) (225 ) (6,172 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Other comprehensive income/(loss) before reclassifications 3,233 (6,677 ) — (3,444 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,004 (377 ) (312 ) 1,315 Period change 5,237 (7,054 ) (312 ) (2,129 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) Other comprehensive (loss)/income before reclassifications (15,768 ) 9,638 — (6,130 ) Amounts reclassified from accumulated other comprehensive income/(loss) 958 (620 ) (299 ) 39 Period change (14,810 ) 9,018 (299 ) (6,091 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) (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 37%. Details about Accumulated Other Comprehensive Income/(Loss) Components Amounts Reclassified from Affected Line Item in the Statement of Net (in thousands) 2016 2015 2014 Securities available-for-sale Net securities gains reclassified into earnings $ (2,251 ) $ (596 ) $ (981 ) Net securities gains (Non-interest Related income tax expense 823 219 361 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (1,428 ) (377 ) (620 ) Securities held-to-maturity Amortization of unrealized gain transferred from available-for-sale (357 ) (494 ) (472 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 132 182 173 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (225 ) (312 ) (299 ) Defined benefit pension plan (2): Amortization of net loss and prior service costs 3,046 3,205 1,516 Employee benefits (Non-interest Related income tax benefit (1,153 ) (1,201 ) (558 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 1,893 2,004 958 Total reclassifications for the period $ 240 $ 1,315 $ 39 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income/(loss) see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 13, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 18. COMMITMENTS AND CONTINGENT LIABILITIES Commitments— off-balance non-performance 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 $0.2 million as of December 31, 2016 and 2015. Contingent obligations to purchase loans funded by other entities include affordable housing plan guarantees, credit card guarantees and mortgages sold into the secondary market with recourse. 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. Certain mortgages sold with recourse obligate WesBanco to repurchase mortgages sold if the borrower exceeds certain delinquency metrics within the first year. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: December 31, (in thousands) 2016 2015 Lines of credit $ 1,418,329 $ 1,159,769 Loans approved but not closed 185,254 234,599 Overdraft limits 126,517 106,252 Letters of credit 32,907 27,408 Contingent obligations to purchase loans funded by other entities 13,036 18,079 Contingent Liabilities— |
WesBanco Bank Community Develop
WesBanco Bank Community Development Corporation | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
WesBanco Bank Community Development Corporation | NOTE 19. WESBANCO BANK COMMUNITY DEVELOPMENT CORPORATION WesBanco Bank Community Development Corporation (“WBCDC”), a consolidated subsidiary of WesBanco Bank, is a Certified Development Entity (“CDE”) with $60.0 million of New Markets Tax Credits (“NMTC”) all of which had been invested in WBCDC at December 31, 2016. The NMTC program is administered by the Community Development Financial Institutions Fund of the U.S. Treasury and is aimed at stimulating economic and community development and job creation in low-income low-income The credit provided to the investor totals 39% of each QEI in a CDE and is claimed over a seven-year credit allowance period. In each of the first three years, the investor receives a credit equal to 5% of the total amount the investor paid to the CDE for each QEI. For each of the remaining four years, the investor receives a credit equal to 6% of the total amount the investor paid to the CDE for each QEI. As of December 31, 2016, WesBanco has received $21.5 million in tax credits over the seven-year credit allowance periods for its $60.0 million NMTC authority invested in WBCDC. WesBanco is eligible to receive an additional $1.9 million in tax credits as set forth in the following table with respect to aggregate QEI amounts invested with a remaining seven-year credit allowance period. WesBanco Bank recognized $1.8 million, $1.9 million and $2.3 million in NMTC in its income tax provision for the years ended December 31, 2016, 2015 and 2014, respectively. These tax credits are subject to certain general business tax credit limitations, as well as the alternative minimum tax, and are therefore limited in deductibility currently due to the applicability of alternative minimum tax on WesBanco’s federal income tax return. A total of $1.2 million of such NMTC have been carried forward to future tax years. (in thousands) Aggregate QEI New Markets Tax Credit Year 2017 2018 2019 2011 $ 5,000 $ 300 $ — $ — 2012 6,000 360 360 — 2013 5,000 300 300 300 Total $ 16,000 $ 960 $ 660 $ 300 (1) The seven-year credit allowance period has expired for $44.0 million in QEI investments in WBCDC. The NMTC claimed by WesBanco Bank with respect to each QEI remain subject to recapture over each QEI’s credit allowance period upon the occurrence of any of the following: • if less than substantially all (generally defined as 85%) of the QEI proceeds are not used by WBCDC to make qualified low income community investments; • WBCDC ceases to be a CDE; or • WBCDC redeems its QEI investment prior to the end of the current credit allowance periods. At December 31, 2016, 2015 and 2014, none of the above recapture events had occurred, nor in the opinion of management are such events anticipated to occur in the foreseeable future. The following condensed financial statements summarize the financial position of WBCDC as of December 31, 2016, and the results of its operations and cash flows for the year ended December 31, 2016: BALANCE SHEET (in thousands) December 31, Assets Cash and due from banks $ 31,303 Loans, net of allowance for loan losses of $249 39,589 Investments 968 Other assets 286 Total Assets $ 72,146 Liabilities $ 274 Shareholder Equity 71,872 Total Liabilities and Shareholder Equity $ 72,146 STATEMENT OF INCOME (in thousands) For the year ended Interest income Loans $ 1,383 Total interest income 1,383 Provision for loan losses 32 Net interest income after provision for loan losses 1,351 Loss on investments (94 ) Non-interest 79 Income before provision for income taxes 1,178 Provision for income taxes 436 Net income $ 742 STATEMENT OF CASH FLOWS (in thousands) For the year ended Operating Activities Net income $ 742 Provision for loan losses 32 Loss on investments 94 Net change in other assets 757 Net change in other liabilities 24 Net cash provided by operating activities 1,649 Investing Activities Decrease in loans 3,337 Net cash provided by investing activities 3,337 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 4,986 Cash and cash equivalents at beginning of year 26,317 Cash and cash equivalents at end of year $ 31,303 |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Transactions with Related Parties | NOTE 20. TRANSACTIONS WITH RELATED PARTIES Certain directors and officers (including their affiliates, families and entities in which they are principal owners) of WesBanco and its subsidiaries are customers of, or suppliers to, those subsidiaries and have had, and are expected to have, transactions with the subsidiaries in the ordinary course of business. In addition, certain directors are also directors or officers of corporations that are customers of, or suppliers to, the Bank and have had, and are expected to have, transactions with the Bank in the ordinary course of business. In the opinion of management, such transactions are consistent with prudent banking practices and are within applicable banking regulations. Indebtedness of related parties aggregated approximately $18.7 million, $9.6 million and $4.4 million as of December 31, 2016, 2015, and 2014, respectively. During 2016, $17.5 million in related party loans were funded and $8.4 million were repaid or no longer related. At December 31, 2016, 2015 and 2014, none of the outstanding related party loans were past due 90 days or more, on non-accrual, |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 21. REGULATORY MATTERS The Federal Reserve Bank is the primary regulator for the parent company, WesBanco. WesBanco Bank is a state non-member WesBanco and WesBanco Bank are also required to maintain non-interest Additionally, WesBanco and WesBanco Bank are subject to various regulatory capital requirements (risk-based capital ratios) administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by the regulators that, if undertaken, could have a material adverse effect on WesBanco’s financial results. All bank holding companies and banking subsidiaries are required to have common equity Tier 1 (“CET1”) of at least 4.5%, core capital (“Tier 1”) of at least 6% of risk-weighted assets, total capital of at least 8% of risk-weighted assets, and a minimum Tier 1 leverage ratio of 4%. Tier 1 capital consists principally of shareholders’ equity; excluding items recorded in accumulated other comprehensive income, less goodwill and other intangibles. Total capital consists of Tier 1 capital plus the allowance for loan losses subject to limitation. The regulations also define “well-capitalized” levels of CET1, Tier 1 risk-based capital, total risk-based capital, and Tier 1 leverage capital as 6.5%, 8%, 10%, and 5%, respectively. WesBanco and WesBanco Bank were categorized as “well-capitalized” under the Federal Deposit Insurance Corporation Improvement Act at December 31, 2016 and 2015. There are no conditions or events since December 31, 2016 that management believes have changed WesBanco’s “well-capitalized” category. The Basel III capital standards effective January 1, 2015 with a phase-in WesBanco currently has $137.6 million in junior subordinated debt in its Consolidated Balance Sheets presented as a separate category of long-term debt. For regulatory purposes, trust preferred securities totaling $138.0 million, issued by unconsolidated trust subsidiaries of WesBanco underlying such junior subordinated debt, are included in Tier 1 capital in accordance with current regulatory reporting requirements. The following table summarizes risk-based capital amounts and ratios for WesBanco and the Bank: December 31, 2016 December 31, 2015 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 901,873 9.81 % $ 367,843 $ 751,748 9.38 % $ 320,575 Common equity Tier 1 4.50 % 6.50 % 773,306 11.28 % 308,462 656,911 11.66 % 253,418 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 901,873 13.16 % 411,283 751,748 13.35 % 337,891 Total capital to risk-weighted assets 8.00 % 10.00 % 971,762 14.18 % 548,378 794,643 14.11 % 450,521 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 827,173 9.02 % $ 366,903 $ 701,384 8.77 % $ 320,020 Common equity Tier 1 4.50 % 6.50 % 827,173 12.10 % 307,728 701,384 12.49 % 252,793 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 827,173 12.10 % 410,305 701,384 12.49 % 337,057 Total capital to risk-weighted assets 8.00 % 10.00 % 896,598 13.11 % 547,073 743,923 13.24 % 449,409 (1) Minimum requirements to remain adequately capitalized. (2) Well capitalized under prompt corrective action regulations. |
Condensed Parent Company Financ
Condensed Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Parent Company Financial Statements | NOTE 22. CONDENSED PARENT COMPANY FINANCIAL STATEMENTS Presented below are the Condensed Balance Sheets, Statements of Income and Statements of Cash Flows for the parent company: BALANCE SHEETS December 31, (in thousands) 2016 2015 ASSETS Cash and short-term investments $ 47,035 $ 33,172 Investment in subsidiaries—Bank 1,404,565 1,175,005 Investment in subsidiaries—Nonbank 8,228 5,604 Securities available-for-sale, 2,133 1,891 Other assets 28,602 21,817 Total Assets $ 1,490,563 $ 1,237,489 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 137,559 $ 106,196 Dividends payable and other liabilities 11,596 9,161 Total Liabilities 149,155 115,357 SHAREHOLDERS’ EQUITY 1,341,408 1,122,132 Total Liabilities and Shareholders’ Equity $ 1,490,563 $ 1,237,489 STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2016 2015 2014 Dividends from subsidiaries—Bank $ 85,000 $ 60,000 $ 59,500 Dividends from subsidiaries—Nonbank 800 500 1,200 Income from securities 75 75 128 Net securities gain — — 745 Other income 147 104 416 Total income 86,022 60,679 61,989 Interest expense 4,136 3,315 3,199 Other expense 5,628 5,547 3,940 Total expense 9,764 8,862 7,139 Income before income tax benefit and undistributed net income of subsidiaries 76,258 51,817 54,850 Income tax benefit (3,149 ) (2,971 ) (2,006 ) Income before undistributed net income of subsidiaries 79,407 54,788 56,856 Equity in undistributed net income of subsidiaries 7,228 25,974 13,118 NET INCOME $ 86,635 $ 80,762 $ 69,974 The details of other comprehensive income and accumulated other comprehensive income are included in the consolidated financial statements. STATEMENTS OF CASH FLOWS For the years ended December 31, (in thousands) 2016 2015 2014 OPERATING ACTIVITIES Net income $ 86,635 $ 80,762 $ 69,974 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (7,228 ) (25,974 ) (13,118 ) Gain on securities — — (745 ) Decrease in other assets 14,679 199 1,908 Other—net 2,094 1,657 1,968 Net cash provided by operating activities 96,180 56,644 59,987 INVESTING ACTIVITIES Proceed from sales—securities available-for-sale — 210 1,990 Acquisitions and additional capitalization of subsidiaries, net of cash (paid) acquired (43,199 ) 1,465 — Net cash (used in) provided by investing activities (43,199 ) 1,675 1,990 FINANCING ACTIVITIES Repayment of junior subordinated debt — (36,083 ) — Repayment of other borrowings — (13,000 ) — Issuance of common stock 1,713 — — Repurchase of common stock warrant — (2,247 ) — Treasury shares (purchased) sold—net (3,026 ) (2,542 ) 1,918 Dividends paid to common and preferred shareholders (37,805 ) (33,007 ) (25,136 ) Net cash used in financing activities (39,118 ) (86,879 ) (23,218 ) Net increase (decrease) in cash and cash equivalents 13,863 (28,560 ) 38,759 Cash and short-term investments at beginning of year 33,172 61,732 22,973 Cash and short-term investments at end of year $ 47,035 $ 33,172 $ 61,732 |
Business Segments
Business Segments | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 23. BUSINESS SEGMENTS WesBanco operates two reportable segments: (i) Community Banking and (ii) 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 Condensed financial information by business segment is presented below: (in thousands) Community Trust and Consolidated For the year ended December 31, 2016: Interest and dividend income $ 286,097 $ — $ 286,097 Interest expense 32,767 — 32,767 Net interest income 253,330 — 253,330 Provision for credit losses 8,478 — 8,478 Net interest income after provision for credit losses 244,852 — 244,852 Non-interest 59,869 21,630 81,499 Non-interest 196,784 11,896 208,680 Income before provision for income taxes 107,937 9,734 117,671 Provision for income taxes 27,142 3,894 31,036 Net income $ 80,795 $ 5,840 $ 86,635 For the year ended December 31, 2015: Interest and dividend income $ 261,712 $ — $ 261,712 Interest expense 24,725 — 24,725 Net interest income 236,987 — 236,987 Provision for credit losses 8,353 — 8,353 Net interest income after provision for credit losses 228,634 — 228,634 Non-interest 52,566 21,900 74,466 Non-interest 181,821 12,102 193,923 Income before provision for income taxes 99,379 9,798 109,177 Provision for income taxes 24,496 3,919 28,415 Net income $ 74,883 $ 5,879 $ 80,762 For the year ended December 31, 2014: Interest and dividend income $ 215,991 $ — $ 215,991 Interest expense 22,763 — 22,763 Net interest income 193,228 — 193,228 Provision for credit losses 6,405 — 6,405 Net interest income after provision for credit losses 186,823 — 186,823 Non-interest 47,435 21,069 68,504 Non-interest 149,429 12,204 161,633 Income before provision for income taxes 84,829 8,865 93,694 Provision for income taxes 20,174 3,546 23,720 Net income $ 64,655 $ 5,319 $ 69,974 Total non-fiduciary |
Condensed Quarterly Statements
Condensed Quarterly Statements of Income (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Condensed Quarterly Statements of Income (Unaudited) | NOTE 24. CONDENSED QUARTERLY STATEMENTS OF INCOME (UNAUDITED) The following tables set forth unaudited consolidated selected quarterly statements of income for the years ended December 31, 2016 and 2015. 2016 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 67,601 $ 67,585 $ 70,092 $ 80,819 $ 286,097 Interest expense 7,759 7,811 8,066 9,131 32,767 Net interest income 59,842 59,774 62,026 71,688 253,330 Provision for credit losses 2,324 1,811 2,214 2,128 8,478 Net interest income after provision for credit losses 57,518 57,963 59,812 69,560 244,852 Non-interest 18,282 19,006 20,419 21,357 79,142 Net securities gains 1,111 585 598 63 2,357 Non-interest 45,343 47,360 57,601 58,298 208,680 Income before provision for income taxes 31,568 30,194 23,228 32,682 117,671 Provision for income taxes 8,694 8,085 5,793 8,464 31,036 Net income $ 22,874 $ 22,109 $ 17,435 $ 24,218 $ 86,635 Earnings per common share—basic $ 0.60 $ 0.58 $ 0.44 $ 0.55 $ 2.16 Earnings per common share—diluted $ 0.60 $ 0.58 $ 0.44 $ 0.55 $ 2.16 2015 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 60,379 $ 66,729 $ 66,935 $ 67,660 $ 261,712 Interest expense 5,424 5,936 6,326 7,040 24,725 Net interest income 54,955 60,793 60,609 60,620 236,987 Provision for credit losses 1,289 2,681 1,798 2,585 8,353 Net interest income after provision for credit losses 53,666 58,112 58,811 58,035 228,634 Non-interest 18,168 18,072 18,139 19,146 73,518 Net securities gains 22 — 47 880 948 Non-interest 53,441 46,589 46,981 46,894 193,923 Income before provision for income taxes 18,415 29,595 30,016 31,167 109,177 Provision for income taxes 4,528 7,962 7,768 8,165 28,415 Net income $ 13,887 $ 21,633 $ 22,248 $ 23,002 $ 80,762 Earnings per common share—basic $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 Earnings per common share—diluted $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations— |
Use of Estimates | Use of Estimates— |
Principles of Consolidation | Principles of Consolidation— WesBanco determines whether it has a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and the right to make financial and operating decisions. WesBanco consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%) of the voting interest. |
Variable Interest Entities | Variable Interest Entities A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE. A VIE often holds financial assets, including loans or receivables, real estate or other property. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. WesBanco has twelve wholly-owned trust subsidiaries (collectively, the “Trusts”), for which it does not absorb a majority of expected losses or receive a majority of the expected residual returns. Accordingly, the Trusts and their net assets are not included in the Consolidated Financial Statements. However, the junior subordinated deferrable interest debentures issued by WesBanco to the Trusts (refer to Note 11, “Subordinated Debt and Junior Subordinated Debt”) and the common stock issued by the Trusts is included in the Consolidated Balance Sheets. WesBanco also owns non-controlling |
Revenue Recognition | Revenue Recognition— |
Cash and Cash Equivalents | Cash and Cash Equivalents— one-day |
Securities | Securities— Trading securities: non-interest Available-for-sale held-to-maturity available-for-sale. Held-to-maturity held-to-maturity available-for-sale held-to-maturity Cost method investments: Securities acquired in acquisitions are recorded at fair value with the premium or discount derived from the fair market value adjustment recognized into interest income on a level yield basis over the remaining life of the security. Gains and losses: non-interest available-for-sale Amortization and accretion: Other-than-temporary impairment losses: available-for-sale non-credit available-for-sale non-credit |
Loans and Loans Held for Sale | Loans and Loans Held for Sale— Loans acquired in acquisitions are recorded at fair value with no carryover of related allowance for credit losses. The premium or discount derived from the fair market value adjustment is recognized into interest income using a level yield method over the remaining expected life of the loan. Refer to the “Acquired Loans” policy below for additional detail. Loan origination fees and direct costs are deferred and accreted or amortized into interest income, as an adjustment to the yield, over the life of the loan using the level yield method. When a loan is paid off, the remaining unaccreted or unamortized net origination fees or costs are immediately recognized into income. Loans are generally placed on non-accrual non-accrual non-accrual 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 include all non-accrual non-accrual Consumer loans are charged down to the net realizable value at 120 days past due for closed-end open-end |
Troubled Debt Restructurings ("TDR") | Troubled Debt Restructurings (“TDR”) When determining whether a debtor is experiencing financial difficulties, consideration is given to any known default on any of its debt or whether it is probable that the debtor would be in payment default in the foreseeable future without the modification. Other indicators of financial difficulty include whether the debtor has declared or is in the process of declaring bankruptcy, the debtor’s ability to continue as a going concern, or the debtor’s projected cash flow to service its debt (including principal & interest) in accordance with the contractual terms for the foreseeable future, without a modification. If the payment of principal at original maturity is primarily dependent on the value of collateral, the current value of that collateral is considered in determining whether the principal will be paid. The restructuring of a loan does not have a material effect on the allowance or provision for credit losses as the internal risk grade of a loan has more influence on the allowance than the classification of a loan as a TDR. The internal risk rating is the primary factor for establishing the allowance for commercial loans, including commercial real estate except for loans that are individually evaluated for impairment, in which case a specific reserve is established pursuant to GAAP. Portfolio segment loss history is the primary factor for establishing the allowance for residential real estate, home equity and consumer loans. Non-accrual non-accrual, non-accrual |
Acquired Loans | Acquired Loans Acquired loans that meet the criteria for non-accrual non-accrual non-performing Loans acquired with deteriorated credit quality are accounted for in accordance with Accounting Standards Codification (“ASC”) 310-30, 310-30) non-accrual Under the ASC 310-30 non-accretable non-accretable Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for loan losses resulting in an increase in the allowance for loan losses. Subsequent improvements in cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized in interest income on a prospective basis over the loan’s remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, 310-20), loan-by-loan |
Allowance for Credit Losses | Allowance for Credit Losses— The evaluation includes an assessment of quantitative factors such as actual loss experience within each category of loans and testing of certain commercial loans for impairment. The evaluation also considers qualitative factors such as economic trends and conditions, which includes levels of unemployment, real estate values and the impact on specific industries and geographical markets, changes in lending policies and underwriting standards, delinquency and other credit quality trends, concentrations of credit risk, if any, the results of internal loan reviews and examinations by bank regulatory agencies, the volatility of historical loss rates, the velocity of changes in historical loss rates, and regulatory guidance pertaining to the allowance for credit losses. Management relies on observable data from internal and external sources to the extent it is available to evaluate each of these factors and adjusts the actual historical loss rates to reflect the impact these factors may have on probable losses in the portfolio. Commercial real estate and commercial and industrial loans greater than $1 million that are reported as non-accrual General reserves are established for loans that are not individually tested for impairment based on historical loss rates adjusted for the impact of the qualitative factors discussed above. Historical loss rates for commercial real estate and commercial and industrial loans are determined for each internal risk grade or group of pass grades using a migration analysis. Historical loss rates for commercial real estate land and construction, residential real estate, home equity and consumer loans that are not risk graded are determined for the total of each category of loans. Historical loss rates for deposit account overdrafts are based on actual losses in relation to average overdrafts for the period. Management may also adjust its assumptions to account for differences between estimated and actual incurred losses from period to period. The variability of management’s assumptions could alter the level of the allowance for credit losses and may have a material impact on future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced; however, there have been no material substantive changes compared to prior periods. |
Mortgage Servicing Rights | Mortgage Servicing Rights— |
Premises and Equipment | Premises and Equipment— |
Other Real Estate Owned and Repossessed Assets | Other Real Estate Owned and Repossessed Assets— available-for-sale |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets— non-controlling Goodwill is not amortized but is evaluated for impairment annually, or more often if events or circumstances indicate it may be impaired. Finite-lived intangible assets, which consist primarily of core deposit and customer list intangibles (long-term customer-relationship intangible assets) are amortized using straight-line and accelerated methods over their weighted-average estimated useful lives, ranging from ten to sixteen years in total, and are tested for impairment whenever events or circumstances indicate that their carrying amount may not be recoverable. Non-compete Goodwill is evaluated for impairment by either assessing qualitative factors to determine whether it is necessary to perform the two-step two-step two-step Intangible assets with finite useful lives are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized when the carrying amount of an intangible asset with a finite useful life is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset. WesBanco does not have any indefinite-lived intangible assets. |
Bank-Owned Life Insurance | Bank-Owned Life Insurance— non-interest |
Interest Rate Lock Commitments | Interest Rate Lock Commitments— one-to-one |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities |
Income Taxes | Income Taxes— |
Fair Value | Fair Value—F Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques where all significant assumptions are observable, either directly or indirectly, in the market; Level 3—Valuation is generated from model-based techniques where all significant assumptions are not observable, either directly or indirectly, in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques may include use of discounted cash flow models and similar techniques. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. |
Earnings Per Common Share | Earnings Per Common Share— in-the-money |
Trust Assets | Trust Assets— |
Stock-Based Compensation | Stock-Based Compensation |
Defined Benefit Pension Plan | Defined Benefit Pension Plan |
Recent Accounting Pronouncements | Recent Accounting Pronouncements 2017-04) In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In June 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In March 2016, the FASB issued ASU 2016-09 In March 2016, the FASB issued ASU 2016-07 In February 2016, the FASB issued ASU 2016-02 In January 2016, the FASB issued ASU 2016-01 In September 2015, the FASB issued ASU 2015-16 In May 2015, the FASB issued ASU 2015-07 In April 2015, the FASB issued ASU 2015-05 internal-use In February 2015, the FASB issued ASU 2015-02 2a-7 In May 2014, the FASB issued ASU 2014-09 one-year 2016-08 2016-10 2016-12 In January 2014, the FASB issued ASU No. 2014-01, |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Preliminary Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition, as WesBanco intends to finalize its accounting for the acquisition of YCB within one year from the date of acquisition: (in thousands) September 9, 2016 Assets acquired Cash and due from banks $ 48,212 Securities 173,223 Loans 1,013,566 Goodwill and other intangible assets 104,846 Accrued income and other assets (1) 211,807 Total assets acquired $ 1,551,654 Liabilities assumed Deposits $ 1,193,010 Borrowings 123,001 Accrued expenses and other liabilities 15,145 Total liabilities assumed 1,331,156 Net assets acquired $ 220,498 (1) Includes receivables of $105.8 million from the sale of available-for-sale |
Your Community Bankshares, Inc [Member] | |
Preliminary Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The purchase price of the YCB acquisition and resulting goodwill is summarized as follows: (in thousands) September 9, 2016 Purchase Price: Fair value of WesBanco shares issued $ 177,149 Cash consideration for outstanding YCB shares 43,349 Total purchase price $ 220,498 Fair value of: Tangible assets acquired $ 1,398,596 Core deposit and other intangible assets acquired 11,957 Liabilities assumed (1,331,156 ) Net cash received in the acquisition 48,212 Fair value of net assets acquired 127,609 Goodwill recognized $ 92,889 |
Purchase Price Allocation Adjustment [Member] | |
Preliminary Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the changes in the preliminary allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of September 30, 2016: (in thousands) September 9, 2016 Change in fair value of net assets acquired: Assets Loans $ (1,505 ) Accrued income and other assets 31 Liabilities Borrowings (184 ) Accrued expenses and other liabilities (637 ) Fair value of net assets acquired (2,295 ) Additional goodwill recognized $ 2,295 Goodwill recognized as of September 30, 2016 90,594 Goodwill recognized as of December 31, 2016 $ 92,889 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are calculated as follows: For the years ended December 31, (in thousands, except shares and per share amounts) 2016 2015 2014 Numerator for both basic and diluted earnings per common share: Net income $ 86,635 $ 80,762 $ 69,974 Denominator: Total average basic common shares outstanding 40,100,320 37,488,331 29,249,499 Effect of dilutive stock options and warrant 26,756 58,796 84,377 Total diluted average common shares outstanding 40,127,076 37,547,127 29,333,876 Earnings per common share—basic $ 2.16 $ 2.15 $ 2.39 Earnings per common share—diluted 2.16 2.15 2.39 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities | The following table shows the amortized cost and fair values of available-for-sale held-to-maturity December 31, 2016 December 31, 2015 (in thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Government sponsored entities and agencies $ 54,803 $ 3 $ (763 ) $ 54,043 $ 82,725 $ 1,183 $ (403 ) $ 83,505 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,052,397 911 (18,209 ) 1,035,099 1,188,256 1,720 (13,896 ) 1,176,080 Obligations of states and political subdivisions 110,208 3,114 (1,659 ) 111,663 76,106 4,205 (46 ) 80,265 Corporate debt securities 35,292 117 (108 ) 35,301 58,745 181 (333 ) 58,593 Total debt securities $ 1,252,700 $ 4,145 $ (20,739 ) $ 1,236,106 $ 1,405,832 $ 7,289 $ (14,678 ) $ 1,398,443 Equity securities 4,062 1,032 (24 ) 5,070 3,812 816 (2 ) 4,626 Total available-for-sale $ 1,256,762 $ 5,177 $ (20,763 ) $ 1,241,176 $ 1,409,644 $ 8,105 $ (14,680 ) $ 1,403,069 Held-to-maturity U.S. Government sponsored entities and agencies $ 13,394 $ — $ (414 ) $ 12,980 $ — $ — $ — $ — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 215,141 1,279 (2,563 ) 213,857 216,419 1,922 (2,014 ) 216,327 Obligations of states and political subdivisions 805,019 15,652 (5,529 ) 815,142 762,039 26,121 (726 ) 787,434 Corporate debt securities 34,413 418 (20 ) 34,811 34,472 237 (263 ) 34,446 Total held-to-maturity $ 1,067,967 $ 17,349 $ (8,526 ) $ 1,076,790 $ 1,012,930 $ 28,280 $ (3,003 ) $ 1,038,207 Total $ 2,324,729 $ 22,526 $ (29,289 ) $ 2,317,966 $ 2,422,574 $ 36,385 $ (17,683 ) $ 2,441,276 |
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 held-to-maturity December 31, 2016 (in thousands) One Year One to Five to After Ten Years Mortgage-backed Total Available-for-sale U.S. Government sponsored entities and agencies $ 2,000 $ 11,896 $ 16,729 $ 14,525 $ 8,893 $ 54,043 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 1,035,099 1,035,099 Obligations of states and political subdivisions 8,062 21,835 36,571 45,195 — 111,663 Corporate debt securities — 30,323 3,037 1,941 — 35,301 Equity securities (2) — — — — 5,070 5,070 Total available-for-sale $ 10,062 $ 64,054 $ 56,337 $ 61,661 $ 1,049,062 $ 1,241,176 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 12,980 $ 12,980 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies (1) — — — — 213,857 213,857 Obligations of states and political subdivisions 735 69,980 407,752 336,675 — 815,142 Corporate debt securities — 976 33,835 — — 34,811 Total held-to-maturity $ 735 $ 70,956 $ 441,587 $ 336,675 $ 226,837 $ 1,076,790 Total $ 10,797 $ 135,010 $ 497,924 $ 398,336 $ 1,275,899 $ 2,317,966 (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 |
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 years ended December 31, 2016, 2015 and 2014, respectively. For the Years Ended (in thousands) 2016 2015 2014 Gross realized gains $ 2,638 $ 1,029 $ 1,131 Gross realized losses (281 ) (81 ) (228 ) Net realized gains $ 2,357 $ 948 $ 903 |
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 December 31, 2016 and 2015: December 31, 2016 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 58,108 $ (1,177 ) 11 $ — $ — — $ 58,108 $ (1,177 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,057,343 (18,558 ) 246 59,518 (2,214 ) 16 1,116,861 (20,772 ) 262 Obligations of states and political subdivisions 364,583 (7,121 ) 604 2,047 (67 ) 3 366,630 (7,188 ) 607 Corporate debt securities 10,011 (78 ) 3 5,973 (50 ) 2 15,984 (128 ) 5 Equity securities 2,938 (24 ) 2 — — — 2,938 (24 ) 2 Total temporarily impaired securities $ 1,492,983 $ (26,958 ) 866 $ 67,538 $ (2,331 ) 21 $ 1,560,521 $ (29,289 ) 887 December 31, 2015 Less than 12 months 12 months or more Total (dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 49,826 $ (403) 11 $ — $ — — $ 49,826 $ (403) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,003,397 (10,981 ) 187 146,182 (4,929 ) 31 1,149,579 (15,910 ) 218 Obligations of states and political subdivisions 58,705 (400 ) 76 23,691 (372 ) 29 82,396 (772 ) 105 Corporate debt securities 41,326 (541 ) 12 1,931 (55 ) 1 43,257 (596 ) 13 Equity securities 1,378 (2 ) 1 — — — 1,378 (2 ) 1 Total temporarily impaired securities $ 1,154,632 $ (12,327 ) 287 $ 171,804 $ (5,356 ) 61 $ 1,326,436 $ (17,683 ) 348 |
Loans and the Allowance for C37
Loans and the Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 and discounts on purchased loans. The deferred loan fees and costs were $0.3 million and $1.0 million at December 31, 2016 and 2015, respectively. The discounts on purchased loans from acquisitions were $24.1 million, including $11.0 million related to YCB, and $15.7 million at December 31, 2016 and 2015, respectively. December 31, December 31, (in thousands) 2016 2015 Commercial real estate: Land and construction $ 496,539 $ 344,748 Improved property 2,376,972 1,911,633 Total commercial real estate 2,873,511 2,256,381 Commercial and industrial 1,088,118 737,878 Residential real estate 1,383,390 1,247,800 Home equity 508,359 416,889 Consumer 396,058 406,894 Total portfolio loans 6,249,436 5,065,842 Loans held for sale 17,315 7,899 Total loans $ 6,266,751 $ 5,073,741 |
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: For the Year Ended December 31, 2016 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 4,390 $ 14,748 $ 10,002 $ 4,582 $ 2,883 $ 4,763 $ 342 $ 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 26 4,223 1,160 16 662 1,356 1,077 8,520 Provision for loan commitments (6 ) (9 ) (72 ) 2 45 (2 ) — (42 ) Total provision for credit losses 20 4,214 1,088 18 707 1,354 1,077 8,478 Charge-offs (73 ) (1,886 ) (3,070 ) (937 ) (397 ) (3,606 ) (884 ) (10,853 ) Recoveries 5 1,543 320 445 274 1,485 225 4,297 Net charge-offs (68 ) (343 ) (2,750 ) (492 ) (123 ) (2,121 ) (659 ) (6,556 ) Balance at end of period: Allowance for loan losses 4,348 18,628 8,412 4,106 3,422 3,998 760 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total ending allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 For the Year Ended December 31, 2015 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: Allowance for loan losses $ 5,654 $ 17,573 $ 9,063 $ 5,382 $ 2,329 $ 4,078 $ 575 $ 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total beginning allowance for credit losses 5,848 17,583 9,175 5,391 2,419 4,118 575 45,109 Provision for credit losses: Provision for loan losses (1,265 ) 1,250 3,289 399 1,794 2,337 391 8,195 Provision for loan commitments (37 ) 16 148 (2 ) 27 6 — 158 Total provision for credit losses (1,302 ) 1,266 3,437 397 1,821 2,343 391 8,353 Charge-offs — (4,915 ) (2,785 ) (1,803 ) (1,502 ) (2,892 ) (846 ) (14,743 ) Recoveries 1 840 435 604 262 1,240 222 3,604 Net charge-offs 1 (4,075 ) (2,350 ) (1,199 ) (1,240 ) (1,652 ) (624 ) (11,139 ) Balance at end of period: Allowance for loan losses 4,390 14,748 10,002 4,582 2,883 4,763 342 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total ending allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 For the Year Ended December 31, 2014 (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total Balance at beginning of year: 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 (402 ) 1,239 1,429 1,692 849 1,144 601 6,552 Provision for loan commitments (107 ) (52 ) (18 ) 4 5 21 — (147 ) Total provision for credit losses (509 ) 1,187 1,411 1,696 854 1,165 601 6,405 Charge-offs — (2,426 ) (3,485 ) (2,437 ) (652 ) (3,120 ) (779 ) (12,899 ) Recoveries — 603 1,194 454 115 1,034 233 3,633 Net charge-offs — (1,823 ) (2,291 ) (1,983 ) (537 ) (2,086 ) (546 ) (9,266 ) Balance at end of period: Allowance for loan losses 5,654 17,573 9,063 5,382 2,329 4,078 575 44,654 Allowance for loan commitments 194 10 112 9 90 40 — 455 Total ending allowance for credit losses $ 5,848 $ 17,583 $ 9,175 $ 5,391 $ 2,419 $ 4,118 $ 575 $ 45,109 |
Allowance for Credit Losses and Recorded Investments in Loans | The following tables present the allowance for credit losses and recorded investments in loans by category: Allowance for Credit Losses and Recorded Investment in Loans (in thousands) Commercial Commercial Commercial Residential Home Consumer Deposit Total December 31, 2016 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 470 $ 407 $ — $ — $ — $ — $ 877 Allowance for loans collectively evaluated for impairment 4,348 18,158 8,005 4,106 3,422 3,998 760 42,797 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,012 $ 1,270 $ — $ — $ — $ — $ 4,282 Collectively evaluated for impairment 494,928 2,364,067 1,086,445 1,382,447 508,359 396,049 — 6,232,295 Acquired with deteriorated credit quality 1,611 9,893 403 943 — 9 — 12,859 Total portfolio loans $ 496,539 $ 2,376,972 $ 1,088,118 $ 1,383,390 $ 508,359 $ 396,058 $ — $ 6,249,436 December 31, 2015 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 668 $ 853 $ — $ — $ — $ — $ 1,521 Allowance for loans collectively evaluated for impairment 4,390 14,080 9,149 4,582 2,883 4,763 342 40,189 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total allowance for credit losses $ 4,547 $ 14,774 $ 10,262 $ 4,589 $ 3,000 $ 4,809 $ 342 $ 42,323 Portfolio loans: Individually evaluated for impairment (1) $ — $ 4,031 $ 4,872 $ — $ — $ — $ — $ 8,903 Collectively evaluated for impairment 343,832 1,899,738 732,957 1,247,639 416,862 406,622 — 5,047,650 Acquired with deteriorated credit quality 916 7,864 49 161 27 272 — 9,289 Total portfolio loans $ 344,748 $ 1,911,633 $ 737,878 $ 1,247,800 $ 416,889 $ 406,894 $ — $ 5,065,842 (1) Commercial loans greater than $1 million that are reported as non-accrual |
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade: Commercial Loans by Internally Assigned Risk Grade (in thousands) Commercial Commercial Commercial Total As of December 31, 2016 Pass $ 489,380 $ 2,324,755 $ 1,072,751 $ 3,886,886 Criticized—compromised 4,405 15,295 5,078 24,778 Classified—substandard 2,754 36,922 10,289 49,965 Classified—doubtful — — — — Total $ 496,539 $ 2,376,972 $ 1,088,118 $ 3,961,629 As of December 31, 2015 Pass $ 335,989 $ 1,864,986 $ 713,578 $ 2,914,553 Criticized—compromised 5,527 10,911 9,860 26,298 Classified—substandard 3,232 35,736 14,440 53,408 Classified—doubtful — — — — Total $ 344,748 $ 1,911,633 $ 737,878 $ 2,994,259 |
Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality | The following table provides changes in accretable yield for all loans acquired with deteriorated credit quality: For the Years Ended (in thousands) December 31, December 31, Balance at beginning of period $ 1,206 $ — Acquisitions 837 1,815 Reduction due to change in projected cash flows (484 ) — Reclass from non-accretable 1,065 — Transfers out (328 ) — Accretion (579 ) (609 ) Balance at end of period $ 1,717 $ 1,206 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans. Age Analysis of Loans (in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total 90 Days or More As of December 31, 2016 Commercial real estate: Land and construction $ 496,245 $ — $ — $ 294 $ 294 $ 496,539 $ — Improved property 2,367,790 1,154 363 7,665 9,182 2,376,972 318 Total commercial real estate 2,864,035 1,154 363 7,959 9,476 2,873,511 318 Commercial and industrial 1,082,390 2,508 1,011 2,209 5,728 1,088,118 229 Residential real estate 1,365,956 6,701 1,043 9,690 17,434 1,383,390 1,922 Home equity 502,087 2,358 862 3,052 6,272 508,359 626 Consumer 390,354 3,674 1,149 881 5,704 396,058 644 Total portfolio loans 6,204,822 16,395 4,428 23,791 44,614 6,249,436 3,739 Loans held for sale 17,315 — — — — 17,315 — Total loans $ 6,222,137 $ 16,395 $ 4,428 $ 23,791 $ 44,614 $ 6,266,751 $ 3,739 Impaired loans included above are as follows: Non-accrual $ 7,570 $ 3,479 $ 923 $ 19,812 24,214 $ 31,784 TDRs accruing interest (1) 7,014 342 50 240 632 7,646 Total impaired $ 14,584 $ 3,821 $ 973 $ 20,052 $ 24,846 $ 39,430 As of December 31, 2015 Commercial real estate: Land and construction $ 344,184 $ — $ — $ 564 $ 564 $ 344,748 $ — Improved property 1,901,466 909 1,097 8,161 10,167 1,911,633 — Total commercial real estate 2,245,650 909 1,097 8,725 10,731 2,256,381 — Commercial and industrial 734,660 298 714 2,206 3,218 737,878 33 Residential real estate 1,234,839 1,389 2,871 8,701 12,961 1,247,800 2,159 Home equity 412,450 2,252 314 1,873 4,439 416,889 407 Consumer 401,242 4,115 764 773 5,652 406,894 527 Total portfolio loans 5,028,841 8,963 5,760 22,278 37,001 5,065,842 3,126 Loans held for sale 7,899 — — — — 7,899 — Total loans $ 5,036,740 $ 8,963 $ 5,760 $ 22,278 $ 37,001 $ 5,073,741 $ 3,126 Impaired loans included above are as follows: Non-accrual $ 11,349 $ 943 $ 2,147 $ 18,942 $ 22,032 $ 33,381 TDRs accruing interest (1) 10,710 390 238 210 838 11,548 Total impaired $ 22,059 $ 1,333 $ 2,385 $ 19,152 $ 22,870 $ 44,929 (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 December 31, 2016 December 31, 2015 (in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ 1,212 $ 766 $ — $ 2,126 $ 1,990 $ — Improved property 9,826 8,141 — 14,817 10,559 — Commercial and industrial 4,456 3,181 — 4,263 3,481 — Residential real estate 20,152 18,305 — 18,560 16,688 — Home equity 4,589 4,011 — 3,562 3,033 — Consumer 884 744 — 1,603 1,294 — Total impaired loans without a specific allowance 41,119 35,148 — 44,931 37,045 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 3,012 470 3,012 3,012 668 Commercial and industrial 4,875 1,270 407 6,176 4,872 853 Total impaired loans with a specific allowance 7,887 4,282 877 9,188 7,884 1,521 Total impaired loans $ 49,006 $ 39,430 $ 877 $ 54,119 $ 44,929 $ 1,521 (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 Year Ended For the Year Ended For the Year Ended (in thousands) Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ 993 $ — $ 2,156 $ 41 $ 1,977 $ 35 Improved property 9,128 115 17,192 437 17,669 441 Commercial and industrial 3,188 9 2,979 170 3,561 103 Residential real estate 17,021 308 17,876 862 18,829 855 Home equity 3,502 20 2,924 90 2,356 75 Consumer 909 8 1,199 105 1,122 97 Total impaired loans without a specific allowance 34,741 460 44,326 1,705 45,514 1,606 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 3,012 — 5,896 — 2,795 348 Commercial and industrial 3,214 — 3,579 292 2,075 95 Total impaired loans with a specific allowance 6,226 — 9,475 292 4,870 443 Total impaired loans $ 40,967 $ 460 $ 53,801 $ 1,997 $ 50,384 $ 2,049 |
Recorded Investment in Non-Accrual Loans and TDRs | The following tables present the recorded investment in non-accrual Non-accrual (in thousands) December 31, December 31, Commercial real estate: Land and construction $ 766 $ 1,023 Improved property 9,535 11,507 Total commercial real estate 10,301 12,530 Commercial and industrial 4,299 8,148 Residential real estate 12,994 9,461 Home equity 3,538 2,391 Consumer 652 851 Total $ 31,784 $ 33,381 (1) At December 31, 2016, there were two borrowers with loans greater than $1.0 million totaling $4.3 million. Total non-accrual non-accrual TDRs December 31, 2016 December 31, 2015 (in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ 8 $ 8 $ 967 $ 431 $ 1,398 Improved property 1,618 688 2,306 2,064 1,442 3,506 Total commercial real estate 1,618 696 2,314 3,031 1,873 4,904 Commercial and industrial 152 151 303 205 282 487 Residential real estate 5,311 2,212 7,523 7,227 2,060 9,287 Home equity 473 297 770 642 218 860 Consumer 92 190 282 443 184 627 Total $ 7,646 $ 3,546 $ 11,192 $ 11,548 $ 4,617 $ 16,165 |
Loans Identified as TDRs | The following table presents details related to loans identified as TDRs during the years ended December 31, 2016 and 2015: New TDRs (1) For the Year Ended December 31, 2016 New TDRs (1) For the Year Ended December 31, 2015 (dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — 3 $ 128 $ 115 Improved property — — — 5 1,084 603 Total commercial real estate — — — 8 1,212 718 Commercial and industrial 2 125 120 1 57 43 Residential real estate 4 178 166 7 456 426 Home equity 1 44 40 1 7 6 Consumer 14 98 74 7 69 58 Total 21 $ 445 $ 400 24 $ 1,801 $ 1,251 (1) Excludes loans that were either paid off or charged-off pre-modification |
TDRs Defaulted Later Restructured | The following table summarizes TDRs which defaulted (defined as past due 90 days) during the years ended December 31, 2016 and 2015 that were restructured within the last twelve months prior to December 31, 2016 and 2015: Defaulted TDRs (1) For the Year Ended Defaulted TDRs (1) For the Year Ended (dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — 2 370 Total commercial real estate — — 2 370 Commercial and industrial — — — — Residential real estate — — 1 22 Home equity — — — — Consumer 1 16 — — Total 1 $ 16 3 $ 392 (1) Excludes loans that were either charged-off |
Recognition of Interest Income on Impaired Loans | The following table summarizes the recognition of interest income on impaired loans: For the years ended December 31, (in thousands) 2016 2015 2014 Average impaired loans $ 40,967 $ 53,801 $ 50,384 Amount of contractual interest income on impaired loans 2,747 3,061 3,260 Amount of interest income recognized on impaired loans 460 1,997 2,049 |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets: December 31, (in thousands) 2016 2015 Other real estate owned $ 8,206 $ 5,669 Repossessed assets 140 156 Total other real estate owned and repossessed assets $ 8,346 $ 5,825 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Premises and Equipment | Premises and equipment include: December 31, (in thousands) 2016 2015 Land and improvements $ 43,059 $ 32,665 Buildings and improvements 136,546 121,645 Furniture and equipment 72,050 71,959 Total cost 251,655 226,269 Accumulated depreciation and amortization (118,358 ) (114,066 ) Total premises and equipment, net $ 133,297 $ 112,203 |
Future Minimum Lease Payments Under Non-cancellable Leases | Future minimum lease payments under non-cancellable in thousands Year Amount 2017 $ 4,340 2018 3,366 2019 2,823 2020 2,694 2021 2,221 2022 and thereafter 14,649 Total $ 30,093 |
Goodwill and Other Intangible39
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
WesBanco's Capitalized Other Intangible Assets and Related Accumulated Amortization | The following table shows WesBanco’s capitalized other intangible assets and related accumulated amortization: December 31, (in thousands) 2016 2015 Other intangible assets: Gross carrying amount $ 37,725 $ 28,674 Accumulated amortization (18,341 ) (18,338 ) Net carrying amount of other intangible assets $ 19,384 $ 10,336 |
Schedule of Future Amortization on Intangible Assets | The following table shows the amortization on WesBanco’s other intangible assets for each of the next five years ( in thousands Year Amount 2017 $ 4,066 2018 3,543 2019 3,037 2020 2,564 2021 2,122 |
Certificates of Deposit (Tables
Certificates of Deposit (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Maturities of Total Certificates of Deposit | At December 31, 2016, the scheduled maturities of total certificates of deposit are as follows (in thousands) Year Amount 2017 $ 840,796 2018 265,666 2019 134,905 2020 135,763 2021 82,743 2022 and thereafter 35,949 Total $ 1,495,822 |
FHLB and Other Short-Term Bor41
FHLB and Other Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Schedule of Aggregate Annual Maturities and Weighted-Average Interest Rates of FHLB Borrowing | The following table presents the aggregate annual maturities and weighted-average interest rates of FHLB borrowings at December 31, 2016 based on their contractual maturity dates and interest rates (dollars in thousands) Year Scheduled Weighted 2017 $ 649,756 1.11 % 2018 310,998 1.32 % 2019 4,600 3.72 % 2020 1,105 4.40 % 2021 314 5.25 % 2022 and thereafter 2,173 1.43 % Total $ 968,946 1.19 % |
Subordinated Debt and Junior 42
Subordinated Debt and Junior Subordinated Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Schedule of Junior Subordinated Debt by Trust | The following table shows WesBanco’s trust subsidiaries with outstanding Trust Preferred Securities as of December 31, 2016: (in thousands) Trust Common Junior Stated Optional WesBanco Capital Trust II (1) $ 13,000 $ 410 $ 13,410 6/30/2033 6/30/2008 WesBanco Capital Statutory Trust III (2) 17,000 526 17,526 6/26/2033 6/26/2008 WesBanco Capital Trust IV (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust V (3) 20,000 619 20,619 6/17/2034 6/17/2009 WesBanco Capital Trust VI (4) 15,000 464 15,464 3/17/2035 3/17/2010 Oak Hill Capital Trust 2 (5) 5,000 155 5,155 10/18/2034 10/18/2009 Oak Hill Capital Trust 3 (6) 8,000 248 8,248 10/18/2034 10/18/2009 Oak Hill Capital Trust 4 (7) 5,000 155 5,155 6/30/2035 6/30/2015 Community Bank Shares Statutory Trust I (3) 5,905 217 6,122 6/17/2034 6/17/2014 Community Bank Shares Statutory Trust II (8) 7,901 310 8,211 6/15/2036 6/15/2016 First Federal Statutory Trust II (9) 8,145 310 8,455 3/22/2037 3/15/2017 First Federal Statutory Trust III (10) 8,335 240 8,575 6/24/2038 6/24/2018 Total $ 133,286 $ 4,273 $ 137,559 (1) Variable rate based on the three-month LIBOR plus 3.15% with a current rate of 4.15% through March 30, 2017, adjustable quarterly. (2) Variable rate based on the three-month LIBOR plus 3.10% with a current rate of 4.10% through March 26, 2017, adjustable quarterly. (3) Variable rate based on the three-month LIBOR plus 2.65% with a current rate of 3.64% through March 17, 2017, adjustable quarterly. (4) Variable rate based on the three-month LIBOR plus 1.77% with a current rate of 2.76% through March 17, 2017, adjustable quarterly. (5) Variable rate based on the three-month LIBOR plus 2.40% with a current rate of 3.28% through January 18, 2017, adjustable quarterly. (6) Variable rate based on the three-month LIBOR plus 2.30% with a current rate of 3.18% through January 18, 2017, adjustable quarterly. (7) Variable rate based on the three-month LIBOR plus 1.60% with a current rate of 2.60% through March 30, 2017, adjustable quarterly. (8) Variable rate based on the three-month LIBOR plus 1.70% with a current rate of 2.66% through March 15, 2017, adjustable quarterly. (9) Fixed rate of 6.69% through March 15, 2017, then variable rate based on the three-month LIBOR plus 1.60%. (10) Fixed rate of 8.00% through maturity, callable June 24, 2018 and thereafter at par. |
Derivatives and Hedging Activ43
Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Fair Values of Derivative Instruments on Balance Sheets | The table below presents the fair value of WesBanco’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2016 and December 31, 2015: December 31, 2016 December 31, 2015 (in thousands) Asset Liability Asset Liability Derivatives not designated as hedging instruments Interest rate product $ 5,596 $ 5,199 $ 1,893 $ 1,991 Total derivatives not designated as hedging instruments $ 5,596 $ 5,199 $ 1,893 $ 1,991 |
Summary of Effect of Derivative Instruments on Income Statement | The table below presents the change in the fair value of the Company’s derivative financial instruments reflected within the other non-interest For the Years Ended (in thousands) 2016 2015 2014 Derivatives not designated as hedging instruments Interest Rate Products $ 495 $ 3 $ (162 ) Total $ 495 $ 3 $ (162 ) |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Summary of Benefit Obligations and Funded Status of the Plan | The benefit obligations and funded status of the Plan are as follows: December 31, (dollars in thousands) 2016 2015 Accumulated benefit obligation at end of year $ 104,775 $ 99,312 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 109,400 $ 118,261 Service cost 2,799 3,355 Interest cost 5,094 4,870 Actuarial (gain) loss 2,569 (13,413 ) Acquisition 1,392 — Benefits paid (5,796 ) (3,673 ) Projected benefit obligation at end of year $ 115,458 $ 109,400 Change in fair value of plan assets: Fair value of plan assets at beginning of year $ 113,292 $ 110,037 Actual return on plan assets 7,125 (572 ) Employer contribution 5,750 7,500 Acquisition 1,226 — Benefits paid (5,796 ) (3,673 ) Fair value of plan assets at end of year $ 121,597 $ 113,292 Amounts recognized in the statement of financial position: Funded status $ 6,139 $ 3,892 Net amounts recognized as receivable pension costs in the consolidated balance sheets $ 6,139 $ 3,892 Amounts recognized in accumulated other comprehensive income consist of: Unrecognized prior service cost $ 130 $ 156 Unrecognized net loss 27,857 27,549 Net amounts recognized in accumulated other comprehensive income (before tax) $ 27,987 $ 27,705 Weighted average assumptions used to determine benefit obligations: Discount rate 4.46 % 4.74 % Rate of compensation increase 3.74 % 3.82 % Expected long-term return on assets 6.30 % 6.79 % |
Components of and Weighted-Average Assumptions Used in Determining Net Periodic Benefit Costs | The components of and weighted-average assumptions used to determine net periodic benefit costs are as follows: For the years ended (dollars in thousands) 2016 2015 2014 Components of net periodic benefit cost: Service cost—benefits earned during year $ 2,799 $ 3,355 $ 2,909 Interest cost on projected benefit obligation 5,094 4,870 4,745 Expected return on plan assets (7,719 ) (7,735 ) (7,229 ) Amortization of prior service cost 26 26 45 Amortization of net loss 3,020 3,179 1,471 Net periodic pension cost $ 3,220 $ 3,695 $ 1,941 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net (gain) loss for period $ 3,329 $ (5,106 ) $ 24,934 Amortization of prior service cost (26 ) (26 ) (45 ) Amortization of net loss (3,020 ) (3,179 ) (1,471 ) Total recognized in other comprehensive income $ 283 $ (8,311 ) $ 23,418 Total recognized in net periodic pension cost and other comprehensive income $ 3,503 $ (4,616 ) $ 25,359 Weighted-average assumptions used to determine net periodic pension cost: Discount rate 4.74 % 4.33 % 5.17 % Rate of compensation increase 3.82 % 3.77 % 3.97 % Expected long-term return on assets 6.79 % 7.00 % 7.25 % |
Summary of Weighted-Average Asset Allocations by Asset Category | The following table sets forth the Plan’s weighted-average asset allocations by asset category: Target Allocation for 2016 December 31, 2016 2015 Asset Category: Equity securities 55-75 % 62 % 61 % Debt securities 25-55 % 35 % 34 % Cash and cash equivalents 0-5 % 3 % 5 % Total 100 % 100 % |
Fair Values of the WesBanco's Pension Plan Assets | The fair values of WesBanco’s pension plan assets at December 31, 2016 and 2015, by asset category are as follows: December 31, 2016 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 21,935 $ 21,935 $ — $ — Equity securities 60,144 60,144 — — Corporate debt securities 18,110 — 18,110 — Municipal obligations 2,998 — 2,998 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 17,176 — 17,176 — Total defined benefit pension plan assets (1) $ 120,363 $ 82,079 $ 38,284 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $121.6 million. December 31, 2015 Fair Value Measurements Using: (in thousands) Assets at Fair Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Defined benefit pension plan assets: Registered investment companies $ 23,741 $ 23,741 $ — $ — Equity securities 56,098 56,098 — — Corporate debt securities 16,802 — 16,802 — Municipal obligations 3,034 — 3,034 — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 15,386 — 15,386 — Total defined benefit pension plan assets (1) $ 115,061 $ 79,839 $ 35,222 $ — (1) The defined benefit pension plan statement of net assets also includes cash, accrued interest and dividends, and due to/from brokers resulting in net assets available for benefits of $113.3 million. |
Estimated Benefits to be Paid in Each of Next Five Years and in the Aggregate for the Five Years Thereafter | The following table presents estimated benefits to be paid in each of the next five years and in the aggregate for the five years thereafter ( in thousands Year Amount 2017 $ 3,903 2018 4,150 2019 4,409 2020 4,748 2021 5,212 2022 to 2026 31,684 |
Significant Assumptions Used in Calculating the Fair Value of the Grants | The following table sets forth the significant assumptions used in calculating the fair value of the grants: For the years ended December 31, 2016 2015 2014 Weighted-average life 5.1 years 4.9 years 4.8 years Risk-free interest rate 1.43 % 1.54 % 1.37 % Dividend yield 2.97 % 2.91 % 3.06 % Volatility factor 23.92 % 26.27 % 28.82 % Fair value of the grants $ 5.09 $ 5.57 $ 5.41 |
Summary of Activity for the Stock Option Component of the Incentive Plan | The following table shows the activity for the Stock Option component of the Incentive Plan: For the year ended December 31, 2016 Number of Options Weighted Average Exercise Price Per Share Outstanding at beginning of the year 287,500 $ 27.02 Granted during the year 96,600 32.37 Exercised during the year (101,190 ) 24.58 Forfeited or expired during the year (6,788 ) 30.09 Outstanding at end of the year 276,122 $ 29.71 Exercisable at year end 228,272 $ 29.15 |
Summary of Average Remaining Life of the Stock Options | The following table shows the average remaining life of the stock options at December 31, 2016: Year Issued Exercisable at Year End Exercise Price Range Per Options Outstanding Weighted Average Exercise Price Weighted Avg. Remaining Contractual Life in Years 2010 3,234 $ 19.27 3,234 $ 19.27 0.38 2011 6,250 19.76 6,250 19.76 1.38 2012 12,000 20.02 12,000 20.02 2.37 2013 30,750 25.00 30,750 25.00 3.37 2014 49,550 28.79 49,550 28.79 4.39 2015 78,638 31.58 78,638 31.58 5.42 2016 47,850 32.37 95,700 32.37 6.40 Total 228,272 $ 19.27 to $32.37 276,122 $ 29.71 5.06 |
Schedule of Activity for the Restricted Stock Component of the Plan | The following table shows the activity for the Restricted Stock component of the Incentive Plan: For the year ended December 31, 2016 Restricted Weighted Non-vested 143,456 $ 28.92 Granted during the year 76,400 32.45 Vested during the year (52,485 ) 26.35 Forfeited or expired during the year (1,725 ) 30.92 Dividend reinvestment 4,836 33.43 Non-vested 170,482 $ 31.40 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Operating Expenses | Other operating expenses consist of miscellaneous taxes, consulting fees, ATM expenses, postage, supplies, legal fees, communications, other real estate owned and foreclosure expenses, and other expenses. Other operating expenses are presented below: For the years ended December 31, (in thousands) 2016 2015 2014 Franchise and other miscellaneous taxes $ 6,825 $ 5,924 $ 6,748 Consulting, regulatory and advisory fees 6,270 4,959 4,405 ATM and electronic banking interchange expenses 4,297 4,463 4,222 Postage and courier expenses 3,306 3,720 3,373 Supplies 2,919 2,841 2,425 Legal fees 2,406 2,418 2,531 Communications 1,800 1,537 1,555 Other real estate owned and foreclosure expenses 1,210 546 1,101 Other 11,967 12,479 10,836 Total other operating expenses $ 41,000 $ 38,887 $ 37,196 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate | Reconciliation from the federal statutory income tax rate to the effective tax rate is as follows: For the years ended 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % Net tax-exempt (7.0 %) (6.8 %) (6.4 %) State income taxes, net of federal tax effect 1.4 % 1.6 % 1.4 % Bank-owned life insurance (1.2 %) (1.6 %) (1.7 %) General business credits (2.1 %) (2.1 %) (3.1 %) All other—net 0.3 % (0.1 %) 0.1 % Effective tax rate 26.4 % 26.0 % 25.3 % |
Provision for Income Taxes Applicable to Income Before Taxes | The provision for income taxes applicable to income before taxes consists of the following: For the years ended December 31, (in thousands) 2016 2015 2014 Current: Federal $ 18,053 $ 15,661 $ 13,346 State 2,159 2,089 1,684 Deferred: Federal 10,519 10,047 8,337 State 305 618 353 Total $ 31,036 $ 28,415 $ 23,720 |
Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income | The following income tax amounts were recorded in shareholders’ equity as elements of other comprehensive income: For the years ended (in thousands) 2016 2015 2014 Securities and defined benefit pension plan unrecognized items $ (3,480 ) $ (1,202 ) $ (3,538 ) |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consist of the following: December 31, (in thousands) 2016 2015 2014 Deferred tax assets: Allowance for loan losses $ 16,198 $ 15,246 $ 16,386 Compensation and benefits 5,444 6,114 8,764 Security gains and losses 2,854 2,964 2,817 Purchase accounting adjustments — 1,275 1,497 Partnership adjustments — 1,921 1,158 Non-accrual 2,392 2,254 2,129 Tax credit carryforwards 12,744 13,580 10,163 Federal net operating loss carryforwards 12,020 — 597 Fair value adjustments on securities available-for-sale 5,394 1,979 — Other 5,194 2,264 2,169 Gross deferred tax assets 62,240 47,597 45,680 Deferred tax liabilities: Depreciation and amortization (3,448 ) (1,530 ) (1,900 ) Accretion on securities (421 ) (2 ) (295 ) Fair value adjustments on securities available-for-sale — — (2,297 ) Purchase accounting adjustments (149 ) — — Partnership adjustments (1,128 ) — — Other (2,519 ) (1,511 ) (1,728 ) Gross deferred tax liabilities (7,665 ) (3,043 ) (6,220 ) Net deferred tax assets $ 54,575 $ 44,554 $ 39,460 |
Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits) | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and the federal income tax benefit of unrecognized state tax benefits) is as follows: For the years ended (in thousands) 2016 2015 2014 Balance at beginning of year $ 326 $ 701 $ 673 Additions based on tax positions related to the current year 110 104 155 Reductions for tax positions of prior years — (100 ) — Reductions due to the statute of limitations — (379 ) (127 ) Settlements — — — Balance at end of year $ 436 $ 326 $ 701 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 December 31, 2016 and 2015: (in thousands) December 31, Quoted Prices in (level 1) Significant Significant Investments Recurring fair value measurements Trading securities $ 7,071 $ 5,633 $ — $ — $ 1,438 Securities—available-for-sale U.S. Government sponsored entities and agencies 54,043 — 54,043 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,035,099 — 1,035,099 — — Obligations of state and political subdivisions 111,663 — 111,663 — — Corporate debt securities 35,301 — 35,301 — — Equity securities 5,070 2,938 2,132 — — Total securities—available-for-sale $ 1,241,176 $ 2,938 $ 1,238,238 $ — $ — Other assets—interest rate derivatives agreements $ 5,596 $ — $ 5,596 $ — $ — Total assets recurring fair value measurements $ 1,253,843 $ 8,571 $ 1,243,834 $ — $ 1,438 Other liabilities—interest rate derivatives agreements $ 5,199 $ — $ 5,199 $ — $ — Total liabilities recurring fair value measurements $ 5,199 $ — $ 5,199 $ — $ — Nonrecurring fair value measurements Impaired loans $ 3,405 $ — $ — $ 3,405 $ — Other real estate owned and repossessed assets 8,346 — — 8,346 — Loans held for sale 17,315 — 17,315 — — Total nonrecurring fair value measurements $ 29,066 $ — $ 17,315 $ 11,751 $ — December 31, 2015 Fair Value Measurements Using: (in thousands) December 31, Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Recurring fair value measurements Trading securities $ 6,451 $ 5,226 $ — $ — $ 1,225 Securities—available-for-sale U.S. Government sponsored entities and agencies 83,505 — 83,505 — — Residential mortgage-backed securities and collateralized mortgage obligations of government agencies 1,176,080 — 1,176,080 — — Obligations of state and political subdivisions 80,265 — 80,265 — — Corporate debt securities 58,593 — 58,593 — — Equity securities 4,626 2,735 1,891 — — Total securities—available-for-sale $ 1,403,069 $ 2,735 $ 1,400,334 $ — $ — Other assets—interest rate derivatives agreements $ 1,893 $ — $ 1,893 $ — $ — Total assets recurring fair value measurements $ 1,411,413 $ 7,961 $ 1,402,227 $ — $ 1,225 Other liabilities—interest rate derivatives agreements $ 1,991 $ — $ 1,991 $ — $ — Total liabilities recurring fair value measurements $ 1,991 $ — $ 1,991 $ — $ — Nonrecurring fair value measurements Impaired loans $ 6,363 $ — $ — $ 6,363 $ — Other real estate owned and repossessed assets 5,825 — — 5,825 — Loans held for sale 7,899 — 7,899 — — Total nonrecurring fair value measurements $ 20,087 $ — $ 7,899 $ 12,188 $ — |
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 (in thousands) Fair Value Valuation Techniques Unobservable Input Range / Weighted Average December 31, 2016: Impaired loans $ 3,405 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (70.0%) / (36.6%) Liquidation expenses (2) (1.5%) to (8.0%) / (4.6%) Other real estate owned and repossessed assets 8,346 Appraisal of collateral (1)(3) December 31, 2015: Impaired loans $ 6,363 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (40.6%) / (25.1%) Liquidation expenses (2) (3.0%) to (8.0%) / (6.7%) Other real estate owned and repossessed assets 5,825 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: Carrying Fair Value Fair Value Measurements at December 31, 2016 (in thousands) Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 128,170 $ 128,170 $ 128,170 $ — $ — $ — Trading securities 7,071 7,071 5,633 — — 1,438 Securities available-for-sale 1,241,176 1,241,176 2,938 1,238,238 — — Securities held-to-maturity 1,067,967 1,076,790 — 1,076,189 601 — Net loans 6,205,762 6,073,558 — — 6,073,558 — Loans held for sale 17,315 17,315 — 17,315 — — Other assets—interest rate derivatives 5,596 5,596 — 5,596 — — Accrued interest receivable 28,299 28,299 28,299 — — — Financial Liabilities Deposits 7,040,879 7,052,501 5,545,057 1,507,444 — — Federal Home Loan Bank borrowings 968,946 974,430 — 974,430 — — Other borrowings 199,376 199,385 197,164 2,221 — — Subordinated debt and junior subordinated debt 163,598 134,859 — 134,859 — — Other liabilities—interest rate derivatives 5,199 5,199 — 5,199 — — Accrued interest payable 2,204 2,204 2,204 — — — Carrying Fair Value Fair Value Measurements at December 31, 2015 (in thousands) Quoted Prices in (level 1) Significant (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 86,685 $ 86,685 $ 86,685 $ — $ — $ — Trading securities 6,451 6,451 5,226 — — 1,225 Securities available-for-sale 1,403,069 1,403,069 2,735 1,400,334 — — Securities held-to-maturity 1,012,930 1,038,207 — 1,037,490 717 — Net loans 5,024,132 4,936,236 — — 4,936,236 — Loans held for sale 7,899 7,899 — 7,899 — — Other assets—interest rate derivatives 1,893 1,893 — 1,893 — — Accrued interest receivable 25,759 25,759 25,759 — — — Financial Liabilities Deposits 6,066,299 6,075,433 4,508,461 1,566,972 — — Federal Home Loan Bank borrowings 1,041,750 1,041,752 — 1,041,752 — — Other borrowings 81,356 81,361 78,682 2,679 — — Junior subordinated debt 106,196 79,681 — 79,681 — — Other liabilities—interest rate derivatives 1,991 1,991 — 1,991 — — Accrued interest payable 1,715 1,715 1,715 — — — |
Comprehensive Income_(Loss) (Ta
Comprehensive Income/(Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income/(Loss) | The activity in accumulated other comprehensive income/(loss) for the years ended December 31, 2016, 2015 and 2014 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (in thousands) Defined Unrealized Gains (Losses) on Securities Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income/(loss) before reclassifications (2,112 ) (4,300 ) — (6,412 ) Amounts reclassified from accumulated other comprehensive income/(loss) 1,893 (1,428 ) (225 ) 240 Period change (219 ) (5,728 ) (225 ) (6,172 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) Other comprehensive income/(loss) before reclassifications 3,233 (6,677 ) — (3,444 ) Amounts reclassified from accumulated other comprehensive income/(loss) 2,004 (377 ) (312 ) 1,315 Period change 5,237 (7,054 ) (312 ) (2,129 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Balance at December 31, 2013 $ (7,966 ) $ (6,126 ) $ 1,358 $ (12,734 ) Other comprehensive (loss)/income before reclassifications (15,768 ) 9,638 — (6,130 ) Amounts reclassified from accumulated other comprehensive income/(loss) 958 (620 ) (299 ) 39 Period change (14,810 ) 9,018 (299 ) (6,091 ) Balance at December 31, 2014 $ (22,776 ) $ 2,892 $ 1,059 $ (18,825 ) (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 37%. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) | Details about Accumulated Other Comprehensive Income/(Loss) Components Amounts Reclassified from Affected Line Item in the Statement of Net (in thousands) 2016 2015 2014 Securities available-for-sale Net securities gains reclassified into earnings $ (2,251 ) $ (596 ) $ (981 ) Net securities gains (Non-interest Related income tax expense 823 219 361 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (1,428 ) (377 ) (620 ) Securities held-to-maturity Amortization of unrealized gain transferred from available-for-sale (357 ) (494 ) (472 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 132 182 173 Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period (225 ) (312 ) (299 ) Defined benefit pension plan (2): Amortization of net loss and prior service costs 3,046 3,205 1,516 Employee benefits (Non-interest Related income tax benefit (1,153 ) (1,201 ) (558 ) Provision for income taxes Net effect on accumulated other comprehensive income/(loss) for the period 1,893 2,004 958 Total reclassifications for the period $ 240 $ 1,315 $ 39 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income/(loss) see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 13, “Employee Benefit Plans” for additional detail. |
Commitments and Contingent Li49
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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: December 31, (in thousands) 2016 2015 Lines of credit $ 1,418,329 $ 1,159,769 Loans approved but not closed 185,254 234,599 Overdraft limits 126,517 106,252 Letters of credit 32,907 27,408 Contingent obligations to purchase loans funded by other entities 13,036 18,079 |
WesBanco Bank Community Devel50
WesBanco Bank Community Development Corporation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of New Market Tax Credit Carry Forward | in thousands) Aggregate QEI New Markets Tax Credit Year 2017 2018 2019 2011 $ 5,000 $ 300 $ — $ — 2012 6,000 360 360 — 2013 5,000 300 300 300 Total $ 16,000 $ 960 $ 660 $ 300 (1) The seven-year credit allowance period has expired for $44.0 million in QEI investments in WBCDC. |
Condensed Parent Company Fina51
Condensed Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
WBCDC [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEET (in thousands) December 31, Assets Cash and due from banks $ 31,303 Loans, net of allowance for loan losses of $249 39,589 Investments 968 Other assets 286 Total Assets $ 72,146 Liabilities $ 274 Shareholder Equity 71,872 Total Liabilities and Shareholder Equity $ 72,146 |
Schedule of Condensed Income Statement | STATEMENT OF INCOME (in thousands) For the year ended Interest income Loans $ 1,383 Total interest income 1,383 Provision for loan losses 32 Net interest income after provision for loan losses 1,351 Loss on investments (94 ) Non-interest 79 Income before provision for income taxes 1,178 Provision for income taxes 436 Net income $ 742 |
Schedule of Condensed Cash Flow Statement | STATEMENT OF CASH FLOWS (in thousands) For the year ended Operating Activities Net income $ 742 Provision for loan losses 32 Loss on investments 94 Net change in other assets 757 Net change in other liabilities 24 Net cash provided by operating activities 1,649 Investing Activities Decrease in loans 3,337 Net cash provided by investing activities 3,337 Financing Activities Qualified equity investment by parent company — Net cash provided by financing activities — Net increase in cash and cash equivalents 4,986 Cash and cash equivalents at beginning of year 26,317 Cash and cash equivalents at end of year $ 31,303 |
Parent Company [Member] | |
Schedule of Condensed Balance Sheet | BALANCE SHEETS December 31, (in thousands) 2016 2015 ASSETS Cash and short-term investments $ 47,035 $ 33,172 Investment in subsidiaries—Bank 1,404,565 1,175,005 Investment in subsidiaries—Nonbank 8,228 5,604 Securities available-for-sale, 2,133 1,891 Other assets 28,602 21,817 Total Assets $ 1,490,563 $ 1,237,489 LIABILITIES Junior subordinated debt owed to unconsolidated subsidiary trusts $ 137,559 $ 106,196 Dividends payable and other liabilities 11,596 9,161 Total Liabilities 149,155 115,357 SHAREHOLDERS’ EQUITY 1,341,408 1,122,132 Total Liabilities and Shareholders’ Equity $ 1,490,563 $ 1,237,489 |
Schedule of Condensed Income Statement | STATEMENTS OF INCOME For the years ended December 31, (in thousands) 2016 2015 2014 Dividends from subsidiaries—Bank $ 85,000 $ 60,000 $ 59,500 Dividends from subsidiaries—Nonbank 800 500 1,200 Income from securities 75 75 128 Net securities gain — — 745 Other income 147 104 416 Total income 86,022 60,679 61,989 Interest expense 4,136 3,315 3,199 Other expense 5,628 5,547 3,940 Total expense 9,764 8,862 7,139 Income before income tax benefit and undistributed net income of subsidiaries 76,258 51,817 54,850 Income tax benefit (3,149 ) (2,971 ) (2,006 ) Income before undistributed net income of subsidiaries 79,407 54,788 56,856 Equity in undistributed net income of subsidiaries 7,228 25,974 13,118 NET INCOME $ 86,635 $ 80,762 $ 69,974 |
Schedule of Condensed Cash Flow Statement | STATEMENTS OF CASH FLOWS For the years ended December 31, (in thousands) 2016 2015 2014 OPERATING ACTIVITIES Net income $ 86,635 $ 80,762 $ 69,974 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income (7,228 ) (25,974 ) (13,118 ) Gain on securities — — (745 ) Decrease in other assets 14,679 199 1,908 Other—net 2,094 1,657 1,968 Net cash provided by operating activities 96,180 56,644 59,987 INVESTING ACTIVITIES Proceed from sales—securities available-for-sale — 210 1,990 Acquisitions and additional capitalization of subsidiaries, net of cash (paid) acquired (43,199 ) 1,465 — Net cash (used in) provided by investing activities (43,199 ) 1,675 1,990 FINANCING ACTIVITIES Repayment of junior subordinated debt — (36,083 ) — Repayment of other borrowings — (13,000 ) — Issuance of common stock 1,713 — — Repurchase of common stock warrant — (2,247 ) — Treasury shares (purchased) sold—net (3,026 ) (2,542 ) 1,918 Dividends paid to common and preferred shareholders (37,805 ) (33,007 ) (25,136 ) Net cash used in financing activities (39,118 ) (86,879 ) (23,218 ) Net increase (decrease) in cash and cash equivalents 13,863 (28,560 ) 38,759 Cash and short-term investments at beginning of year 33,172 61,732 22,973 Cash and short-term investments at end of year $ 47,035 $ 33,172 $ 61,732 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Risk-Based Capital Amounts and Ratios | The following table summarizes risk-based capital amounts and ratios for WesBanco and the Bank: December 31, 2016 December 31, 2015 (dollars in thousands) Minimum Well Amount Ratio Minimum Amount Ratio Minimum WesBanco, Inc. Tier 1 leverage 4.00 % 5.00 % $ 901,873 9.81 % $ 367,843 $ 751,748 9.38 % $ 320,575 Common equity Tier 1 4.50 % 6.50 % 773,306 11.28 % 308,462 656,911 11.66 % 253,418 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 901,873 13.16 % 411,283 751,748 13.35 % 337,891 Total capital to risk-weighted assets 8.00 % 10.00 % 971,762 14.18 % 548,378 794,643 14.11 % 450,521 WesBanco Bank, Inc. Tier 1 leverage 4.00 % 5.00 % $ 827,173 9.02 % $ 366,903 $ 701,384 8.77 % $ 320,020 Common equity Tier 1 4.50 % 6.50 % 827,173 12.10 % 307,728 701,384 12.49 % 252,793 Tier 1 capital to risk-weighted assets 6.00 % 8.00 % 827,173 12.10 % 410,305 701,384 12.49 % 337,057 Total capital to risk-weighted assets 8.00 % 10.00 % 896,598 13.11 % 547,073 743,923 13.24 % 449,409 (1) Minimum requirements to remain adequately capitalized. (2) Well capitalized under prompt corrective action regulations. |
Business Segments (Tables)
Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: (in thousands) Community Trust and Consolidated For the year ended December 31, 2016: Interest and dividend income $ 286,097 $ — $ 286,097 Interest expense 32,767 — 32,767 Net interest income 253,330 — 253,330 Provision for credit losses 8,478 — 8,478 Net interest income after provision for credit losses 244,852 — 244,852 Non-interest 59,869 21,630 81,499 Non-interest 196,784 11,896 208,680 Income before provision for income taxes 107,937 9,734 117,671 Provision for income taxes 27,142 3,894 31,036 Net income $ 80,795 $ 5,840 $ 86,635 For the year ended December 31, 2015: Interest and dividend income $ 261,712 $ — $ 261,712 Interest expense 24,725 — 24,725 Net interest income 236,987 — 236,987 Provision for credit losses 8,353 — 8,353 Net interest income after provision for credit losses 228,634 — 228,634 Non-interest 52,566 21,900 74,466 Non-interest 181,821 12,102 193,923 Income before provision for income taxes 99,379 9,798 109,177 Provision for income taxes 24,496 3,919 28,415 Net income $ 74,883 $ 5,879 $ 80,762 For the year ended December 31, 2014: Interest and dividend income $ 215,991 $ — $ 215,991 Interest expense 22,763 — 22,763 Net interest income 193,228 — 193,228 Provision for credit losses 6,405 — 6,405 Net interest income after provision for credit losses 186,823 — 186,823 Non-interest 47,435 21,069 68,504 Non-interest 149,429 12,204 161,633 Income before provision for income taxes 84,829 8,865 93,694 Provision for income taxes 20,174 3,546 23,720 Net income $ 64,655 $ 5,319 $ 69,974 |
Condensed Quarterly Statement54
Condensed Quarterly Statements of Income (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Consolidated Selected Quarterly Statements of Income | The following tables set forth unaudited consolidated selected quarterly statements of income for the years ended December 31, 2016 and 2015. 2016 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 67,601 $ 67,585 $ 70,092 $ 80,819 $ 286,097 Interest expense 7,759 7,811 8,066 9,131 32,767 Net interest income 59,842 59,774 62,026 71,688 253,330 Provision for credit losses 2,324 1,811 2,214 2,128 8,478 Net interest income after provision for credit losses 57,518 57,963 59,812 69,560 244,852 Non-interest 18,282 19,006 20,419 21,357 79,142 Net securities gains 1,111 585 598 63 2,357 Non-interest 45,343 47,360 57,601 58,298 208,680 Income before provision for income taxes 31,568 30,194 23,228 32,682 117,671 Provision for income taxes 8,694 8,085 5,793 8,464 31,036 Net income $ 22,874 $ 22,109 $ 17,435 $ 24,218 $ 86,635 Earnings per common share—basic $ 0.60 $ 0.58 $ 0.44 $ 0.55 $ 2.16 Earnings per common share—diluted $ 0.60 $ 0.58 $ 0.44 $ 0.55 $ 2.16 2015 Quarter ended (dollars in thousands, except per share amounts) March 31, June 30, September 30, December 31, Annual Interest and dividend income $ 60,379 $ 66,729 $ 66,935 $ 67,660 $ 261,712 Interest expense 5,424 5,936 6,326 7,040 24,725 Net interest income 54,955 60,793 60,609 60,620 236,987 Provision for credit losses 1,289 2,681 1,798 2,585 8,353 Net interest income after provision for credit losses 53,666 58,112 58,811 58,035 228,634 Non-interest 18,168 18,072 18,139 19,146 73,518 Net securities gains 22 — 47 880 948 Non-interest 53,441 46,589 46,981 46,894 193,923 Income before provision for income taxes 18,415 29,595 30,016 31,167 109,177 Provision for income taxes 4,528 7,962 7,768 8,165 28,415 Net income $ 13,887 $ 21,633 $ 22,248 $ 23,002 $ 80,762 Earnings per common share—basic $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 Earnings per common share—diluted $ 0.40 $ 0.56 $ 0.58 $ 0.60 $ 2.15 |
Summary of Significant Accoun55
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)BranchesProperty | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Summary Of Significant Accounting Policies [Line Items] | |||
Number of branches | Branches | 174 | ||
Number of ATM | Property | 163 | ||
Wholly-owned trust subsidiaries | Property | 12 | ||
Held for sale securities, percentage of purchase price as condition for sale | 15.00% | ||
Allowance for credit losses carryover | $ 0 | ||
Non-accrual status period | 90 days | ||
Loans returned to accrual status, performance period | 6 months | ||
Minimum loan balance individually tested for impairment | $ 1,000,000 | ||
Indefinite - lived intangible assets | $ 0 | ||
Period of interest rate lock commitments | 60 days | ||
Partnerships losses and impairment | $ 900,000 | $ 600,000 | $ 900,000 |
Land Improvements [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment, Useful life | 15 years | ||
Consumer Loan [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Period of closed end loans loans charged down to net realizable value | 120 days | ||
Home Equity [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Period of closed end loans loans charged down to net realizable value | 180 days | ||
Residential Real Estate Loans [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Period of closed end loans loans charged down to net realizable value | 180 days | ||
Minimum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Percentage of voting interest | 50.00% | ||
Weighted-average estimated useful lives | 10 years | ||
Non-compete agreements, amortization period | 1 year | ||
Minimum [Member] | Furniture and Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment, Useful life | 3 years | ||
Minimum [Member] | Building and Building Improvements [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment, Useful life | 15 years | ||
Maximum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Weighted-average estimated useful lives | 16 years | ||
Non-compete agreements, amortization period | 4 years | ||
Maximum [Member] | Furniture and Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment, Useful life | 10 years | ||
Maximum [Member] | Building and Building Improvements [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment, Useful life | 39 years |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Sep. 09, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Your Community Bankshares, Inc [Member] | |||
Business Acquisition [Line Items] | |||
Total assets acquired, excluding goodwill | $ 1,500,000 | ||
Loans | 1,013,566 | ||
Securities | 173,223 | ||
Value of acquisition | $ 220,498 | ||
Common shares issued | 5,423,348 | ||
Cash consideration for outstanding YCB shares | $ 43,349 | ||
Goodwill acquired | 92,889 | $ 92,900 | |
Purchase price allocation in core deposit intangible | $ 11,957 | ||
Closing stock price | $ 32.62 | ||
Merger related expense | $ 13,300 | ||
Common Stock [Member] | |||
Business Acquisition [Line Items] | |||
Common shares issued | 5,423,348 | 9,178,531 | |
Common Stock [Member] | Your Community Bankshares, Inc [Member] | |||
Business Acquisition [Line Items] | |||
Common shares issued | 5,423,348 | ||
Cash consideration for outstanding YCB shares | $ 43,300 |
Mergers and Acquisitions - Calc
Mergers and Acquisitions - Calculation of Purchase Price and Resulting Goodwill Relating to YCB Acquisition (Detail) - Your Community Bankshares, Inc [Member] - USD ($) $ in Thousands | Sep. 09, 2016 | Dec. 31, 2016 |
Purchase Price: | ||
Fair value of WesBanco shares issued | $ 177,149 | |
Cash consideration for outstanding YCB shares | 43,349 | |
Total purchase price | 220,498 | |
Fair value of: | ||
Tangible assets acquired | 1,398,596 | |
Core deposit and other intangible assets acquired | 11,957 | |
Liabilities assumed | (1,331,156) | |
Net cash received in the acquisition | 48,212 | |
Fair value of net assets acquired | 127,609 | |
Goodwill recognized | $ 92,889 | $ 92,900 |
Mergers and Acquisitions - Prel
Mergers and Acquisitions - Preliminary Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 09, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill recognized | $ 573,800 | $ 480,600 | ||
Purchase Price Allocation Adjustment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill recognized | 92,889 | $ 90,594 | ||
Loans | $ (1,505) | |||
Accrued income and other assets | 31 | |||
Liabilities | ||||
Borrowings | 184 | |||
Accrued expenses and other liabilities | 637 | |||
Fair value of net assets acquired | (2,295) | |||
Goodwill acquired | 2,295 | |||
Your Community Bankshares, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and due from banks | 48,212 | |||
Securities | 173,223 | |||
Loans | 1,013,566 | |||
Goodwill and other intangible assets | 104,846 | |||
Accrued income and other assets | 211,807 | |||
Total assets acquired | 1,551,654 | |||
Liabilities | ||||
Deposits | 1,193,010 | |||
Borrowings | 123,001 | |||
Accrued expenses and other liabilities | 15,145 | |||
Total liabilities assumed | 1,331,156 | |||
Fair value of net assets acquired | 127,609 | |||
Net assets acquired | 220,498 | |||
Goodwill acquired | $ 92,889 | $ 92,900 |
Mergers and Acquisitions - Pr59
Mergers and Acquisitions - Preliminary Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Millions | Sep. 09, 2016USD ($) |
Your Community Bankshares, Inc [Member] | |
Business Acquisition [Line Items] | |
Receivables from sale of available-for-sale securities | $ 105.8 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Numerator for both basic and diluted earnings per common share: | |||||||||||
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 86,635 | $ 80,762 | $ 69,974 |
Denominator: | |||||||||||
Total average basic common shares outstanding | 40,100,320 | 37,488,331 | 29,249,499 | ||||||||
Effect of dilutive stock options and warrant | 26,756 | 58,796 | 84,377 | ||||||||
Total diluted average common shares outstanding | 40,127,076 | 37,547,127 | 29,333,876 | ||||||||
Earnings per common share - basic | $ 0.55 | $ 0.44 | $ 0.58 | $ 0.60 | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 2.16 | $ 2.15 | $ 2.39 |
Earnings per common share - diluted | $ 0.55 | $ 0.44 | $ 0.58 | $ 0.60 | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 2.16 | $ 2.15 | $ 2.39 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Sep. 09, 2016 | Dec. 31, 2016 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares contingently issuable under shareholder return plan | 0 | |
Your Community Bankshares, Inc [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares issued for acquisition, shares | 5,423,348 | |
Your Community Bankshares, Inc [Member] | Treasury Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares issued for acquisition, shares | 109,257 | |
Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Stock options excluded from computation of diluted earnings per share | 95,700 |
Securities - Schedule of Amorti
Securities - Schedule of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | $ 1,256,762 | $ 1,409,644 |
Available-for-sale, Gross Unrealized Gains | 5,177 | 8,105 |
Available-for-sale, Gross Unrealized Losses | (20,763) | (14,680) |
Available-for-sale, Estimated Fair Value | 1,241,176 | 1,403,069 |
Held-to-maturity, Amortized Cost | 1,067,967 | 1,012,930 |
Held-to-maturity, Gross Unrealized Gains | 17,349 | 28,280 |
Held-to-maturity, Gross Unrealized Losses | (8,526) | (3,003) |
Held-to-maturity securities, Fair value | 1,076,790 | 1,038,207 |
Total, Amortized Cost | 2,324,729 | 2,422,574 |
Total, Gross Unrealized Gains | 22,526 | 36,385 |
Total, Gross Unrealized Losses | (29,289) | (17,683) |
Total, Estimated Fair Value | 2,317,966 | 2,441,276 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 54,803 | 82,725 |
Available-for-sale, Gross Unrealized Gains | 3 | 1,183 |
Available-for-sale, Gross Unrealized Losses | (763) | (403) |
Available-for-sale, Estimated Fair Value | 54,043 | 83,505 |
Held-to-maturity, Amortized Cost | 13,394 | |
Held-to-maturity, Gross Unrealized Losses | (414) | |
Held-to-maturity securities, Fair value | 12,980 | |
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 | 1,052,397 | 1,188,256 |
Available-for-sale, Gross Unrealized Gains | 911 | 1,720 |
Available-for-sale, Gross Unrealized Losses | (18,209) | (13,896) |
Available-for-sale, Estimated Fair Value | 1,035,099 | 1,176,080 |
Held-to-maturity, Amortized Cost | 215,141 | 216,419 |
Held-to-maturity, Gross Unrealized Gains | 1,279 | 1,922 |
Held-to-maturity, Gross Unrealized Losses | (2,563) | (2,014) |
Held-to-maturity securities, Fair value | 213,857 | 216,327 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 110,208 | 76,106 |
Available-for-sale, Gross Unrealized Gains | 3,114 | 4,205 |
Available-for-sale, Gross Unrealized Losses | (1,659) | (46) |
Available-for-sale, Estimated Fair Value | 111,663 | 80,265 |
Held-to-maturity, Amortized Cost | 805,019 | 762,039 |
Held-to-maturity, Gross Unrealized Gains | 15,652 | 26,121 |
Held-to-maturity, Gross Unrealized Losses | (5,529) | (726) |
Held-to-maturity securities, Fair value | 815,142 | 787,434 |
Corporate Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 35,292 | 58,745 |
Available-for-sale, Gross Unrealized Gains | 117 | 181 |
Available-for-sale, Gross Unrealized Losses | (108) | (333) |
Available-for-sale, Estimated Fair Value | 35,301 | 58,593 |
Held-to-maturity, Amortized Cost | 34,413 | 34,472 |
Held-to-maturity, Gross Unrealized Gains | 418 | 237 |
Held-to-maturity, Gross Unrealized Losses | (20) | (263) |
Held-to-maturity securities, Fair value | 34,811 | 34,446 |
Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 1,252,700 | 1,405,832 |
Available-for-sale, Gross Unrealized Gains | 4,145 | 7,289 |
Available-for-sale, Gross Unrealized Losses | (20,739) | (14,678) |
Available-for-sale, Estimated Fair Value | 1,236,106 | 1,398,443 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 4,062 | 3,812 |
Available-for-sale, Gross Unrealized Gains | 1,032 | 816 |
Available-for-sale, Gross Unrealized Losses | (24) | (2) |
Available-for-sale, Estimated Fair Value | $ 5,070 | $ 4,626 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Holdings | Dec. 31, 2015USD ($)Holdings | Dec. 31, 2014USD ($) | |
Amortized Cost and Fair Value Debt Securities [Abstract] | |||
Trading securities, at fair value | $ 7,071,000 | $ 6,451,000 | |
Maximum percentage of equity of one issuer | 10.00% | ||
Number of holdings greater than specified percentage of equity | Holdings | 0 | 0 | |
Securities with aggregate fair values | $ 1,200,000,000 | $ 1,000,000,000 | |
Proceeds from sale of available-for-sale securities | 277,225,000 | 635,609,000 | $ 16,249,000 |
Net unrealized gains (losses) on available-for-sale securities included in AOCI | (9,900,000) | (4,200,000) | $ 2,900,000 |
Impaired loss relating to securities | 0 | ||
Federal home loan bank stock, Total | $ 46,400,000 | $ 45,500,000 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | $ 10,062 | |
Total available-for-sale securities, One to Five Years | 64,054 | |
Total available-for-sale securities, Five to Ten Years | 56,337 | |
Total available-for-sale securities, After Ten Years | 61,661 | |
Total available-for-sale securities, Mortgage-backed and Equity | 1,049,062 | |
Available-for-sale, Estimated Fair Value | 1,241,176 | $ 1,403,069 |
Total held-to-maturity securities, One Year or less | 735 | |
Total held-to-maturity securities, One to Five Years | 70,956 | |
Total held-to-maturity securities, Five to Ten Years | 441,587 | |
Total held-to-maturity securities, After Ten Years | 336,675 | |
Total held-to-maturity securities, Mortgage-backed and Equity | 226,837 | |
Held-to-maturity securities, Fair value | 1,076,790 | 1,038,207 |
Total, One Year or less | 10,797 | |
Total, One to Five Years | 135,010 | |
Total, Five to Ten Years | 497,924 | |
Total, After Ten Years, Fair value | 398,336 | |
Total, Mortgage- backed and Equity | 1,275,899 | |
Total, Fair value | 2,317,966 | 2,441,276 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 2,000 | |
Total available-for-sale securities, One to Five Years | 11,896 | |
Total available-for-sale securities, Five to Ten Years | 16,729 | |
Total available-for-sale securities, After Ten Years | 14,525 | |
Total available-for-sale securities, Mortgage-backed and Equity | 8,893 | |
Available-for-sale, Estimated Fair Value | 54,043 | 83,505 |
Total held-to-maturity securities, Mortgage-backed and Equity | 12,980 | |
Held-to-maturity securities, Fair value | 12,980 | |
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 | 1,035,099 | |
Available-for-sale, Estimated Fair Value | 1,035,099 | 1,176,080 |
Total held-to-maturity securities, Mortgage-backed and Equity | 213,857 | |
Held-to-maturity securities, Fair value | 213,857 | 216,327 |
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 | 8,062 | |
Total available-for-sale securities, One to Five Years | 21,835 | |
Total available-for-sale securities, Five to Ten Years | 36,571 | |
Total available-for-sale securities, After Ten Years | 45,195 | |
Available-for-sale, Estimated Fair Value | 111,663 | 80,265 |
Total held-to-maturity securities, One Year or less | 735 | |
Total held-to-maturity securities, One to Five Years | 69,980 | |
Total held-to-maturity securities, Five to Ten Years | 407,752 | |
Total held-to-maturity securities, After Ten Years | 336,675 | |
Held-to-maturity securities, Fair value | 815,142 | 787,434 |
Corporate Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One to Five Years | 30,323 | |
Total available-for-sale securities, Five to Ten Years | 3,037 | |
Total available-for-sale securities, After Ten Years | 1,941 | |
Available-for-sale, Estimated Fair Value | 35,301 | 58,593 |
Total held-to-maturity securities, One to Five Years | 976 | |
Total held-to-maturity securities, Five to Ten Years | 33,835 | |
Held-to-maturity securities, Fair value | 34,811 | 34,446 |
Equity Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 5,070 | |
Available-for-sale, Estimated Fair Value | $ 5,070 | $ 4,626 |
Securities - Schedule of Fair65
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Held-to-maturity, Amortized Cost | $ 1,067,967 | $ 1,012,930 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Securities Gross Realized Gain Loss [Abstract] | ||||||||||
Gross realized gains | $ 2,638 | $ 1,029 | $ 1,131 | |||||||
Gross realized losses | (281) | (81) | (228) | |||||||
Net realized gains | $ 63 | $ 598 | $ 585 | $ 1,111 | $ 880 | $ 47 | $ 22 | $ 2,357 | $ 948 | $ 903 |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Investment Securities (Detail) $ in Thousands | Dec. 31, 2016USD ($)Security | Dec. 31, 2015USD ($)Security |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 58,108 | $ 49,826 |
Less than 12 months, Unrealized Losses | $ (1,177) | $ (403) |
Less than 12 months, Number of Securities | Security | 11 | 11 |
Fair Value, Total | $ 58,108 | $ 49,826 |
Unrealized Losses, Total | $ (1,177) | $ (403) |
Number of Securities Total | Security | 11 | 11 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,057,343 | $ 1,003,397 |
Less than 12 months, Unrealized Losses | $ (18,558) | $ (10,981) |
Less than 12 months, Number of Securities | Security | 246 | 187 |
12 months or more, Fair Value | $ 59,518 | $ 146,182 |
12 months or more, Unrealized Losses | $ (2,214) | $ (4,929) |
12 months or more, Number of Securities | Security | 16 | 31 |
Fair Value, Total | $ 1,116,861 | $ 1,149,579 |
Unrealized Losses, Total | $ (20,772) | $ (15,910) |
Number of Securities Total | Security | 262 | 218 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 364,583 | $ 58,705 |
Less than 12 months, Unrealized Losses | $ (7,121) | $ (400) |
Less than 12 months, Number of Securities | Security | 604 | 76 |
12 months or more, Fair Value | $ 2,047 | $ 23,691 |
12 months or more, Unrealized Losses | $ (67) | $ (372) |
12 months or more, Number of Securities | Security | 3 | 29 |
Fair Value, Total | $ 366,630 | $ 82,396 |
Unrealized Losses, Total | $ (7,188) | $ (772) |
Number of Securities Total | Security | 607 | 105 |
Corporate Debt Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 10,011 | $ 41,326 |
Less than 12 months, Unrealized Losses | $ (78) | $ (541) |
Less than 12 months, Number of Securities | Security | 3 | 12 |
12 months or more, Fair Value | $ 5,973 | $ 1,931 |
12 months or more, Unrealized Losses | $ (50) | $ (55) |
12 months or more, Number of Securities | Security | 2 | 1 |
Fair Value, Total | $ 15,984 | $ 43,257 |
Unrealized Losses, Total | $ (128) | $ (596) |
Number of Securities Total | Security | 5 | 13 |
Equity Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 2,938 | $ 1,378 |
Less than 12 months, Unrealized Losses | $ (24) | $ (2) |
Less than 12 months, Number of Securities | Security | 2 | 1 |
Fair Value, Total | $ 2,938 | $ 1,378 |
Unrealized Losses, Total | $ (24) | $ (2) |
Number of Securities Total | Security | 2 | 1 |
Total Temporarily Impaired Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,492,983 | $ 1,154,632 |
Less than 12 months, Unrealized Losses | $ (26,958) | $ (12,327) |
Less than 12 months, Number of Securities | Security | 866 | 287 |
12 months or more, Fair Value | $ 67,538 | $ 171,804 |
12 months or more, Unrealized Losses | $ (2,331) | $ (5,356) |
12 months or more, Number of Securities | Security | 21 | 61 |
Fair Value, Total | $ 1,560,521 | $ 1,326,436 |
Unrealized Losses, Total | $ (29,289) | $ (17,683) |
Number of Securities Total | Security | 887 | 348 |
Loans and the Allowance for C68
Loans and the Allowance for Credit Losses - Additional Information (Detail) | 12 Months Ended | ||||
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($) | Sep. 09, 2016USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Deferred loan fees and costs | $ 300,000 | $ 1,000,000 | |||
Discount on purchased loans from acquisitions | 24,100,000 | 15,700,000 | |||
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 20,600,000 | 15,800,000 | |||
Internally assigned loan grades to residential real estate, home equity and consumer loans | 3,400,000 | 3,100,000 | |||
Loans acquired with deteriorated credit quality | 12,859,000 | 9,289,000 | |||
Allowance for loan losses | $ 43,674,000 | 41,710,000 | $ 44,654,000 | $ 47,368,000 | |
Number of restructured contracts greater than $1 million | Contract | 0 | ||||
Accruing and non accrual TDR permitted interest-only payment period | 3 months | ||||
Unfunded commitments to debtors for impaired loans | $ 0 | 200,000 | |||
Other real estate owned | $ 8,206,000 | 5,669,000 | |||
Maximum [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Percentage of TDRs defaulted during the period that were restructured within the last twelve months | 0.10% | ||||
Your Community Bankshares, Inc [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Discount on purchased loans from acquisitions | $ 11,000,000 | ||||
Book value of acquired loans | $ 1,027,200,000 | ||||
Fair value of acquired loans | 1,013,566,000 | ||||
Loans acquired accretable | 800,000 | ||||
Pre-acquisition book value, acquired loans with deteriorated credit quality | 11,100,000 | ||||
Contractually required payments, acquired loans with deteriorated credit quality | 13,300,000 | ||||
Fair value of acquired loans with deteriorated credit quality | 7,100,000 | ||||
Deteriorated credit quality loans acquired non-accretable difference | 5,300,000 | ||||
Loans acquired with deteriorated credit quality | 5,700,000 | ||||
Loans acquired with deteriorated credit quality, outstanding customer balance | 9,200,000 | ||||
Allowance for loan losses | 0 | ||||
Your Community Bankshares, Inc [Member] | Acquired Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Fair value of acquired loans | 1,006,900,000 | ||||
Loans acquired accretable | 9,200,000 | ||||
Your Community Bankshares, Inc [Member] | Cost Recovery Method [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Fair value of acquired loans | $ 2,700,000 | ||||
ESB Financial Corporation [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired accretable | 900,000 | ||||
Loans acquired with deteriorated credit quality | 7,200,000 | 9,300,000 | |||
Allowance for loan losses | 1,800,000 | 0 | |||
Residential Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality | 943,000 | 161,000 | |||
Allowance for loan losses | 4,106,000 | 4,582,000 | $ 5,382,000 | $ 5,673,000 | |
Other real estate owned | 1,600,000 | $ 2,000,000 | |||
Foreclosure proceedings in process on residential real estate loans | 4,100,000 | ||||
Residential Real Estate [Member] | Your Community Bankshares, Inc [Member] | Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Real estate owned from acquisition | $ 3,100,000 |
Loans and the Allowance for C69
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 6,249,436 | $ 5,065,842 |
Loans held for sale | 17,315 | 7,899 |
Total loans | 6,266,751 | 5,073,741 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 496,539 | 344,748 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 2,376,972 | 1,911,633 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,088,118 | 737,878 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 2,873,511 | 2,256,381 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,383,390 | 1,247,800 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 396,058 | 406,894 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 508,359 | $ 416,889 |
Loans and the Allowance for C70
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | $ 41,710 | $ 44,654 | $ 41,710 | $ 44,654 | $ 47,368 | ||||||
Allowance for loan commitments, beginning balance | 613 | 455 | 613 | 455 | 602 | ||||||
Total beginning allowance for credit losses | 42,323 | 45,109 | 42,323 | 45,109 | 47,970 | ||||||
Provision for loan losses | 8,520 | 8,195 | 6,552 | ||||||||
Provision for loan commitments | (42) | 158 | (147) | ||||||||
Total provision for credit losses | $ 2,128 | $ 2,214 | $ 1,811 | 2,324 | $ 2,585 | $ 1,798 | $ 2,681 | 1,289 | 8,478 | 8,353 | 6,405 |
Charge-offs | (10,853) | (14,743) | (12,899) | ||||||||
Recoveries | 4,297 | 3,604 | 3,633 | ||||||||
Net charge-offs | (6,556) | (11,139) | (9,266) | ||||||||
Allowance for loan losses, ending balance | 43,674 | 41,710 | 43,674 | 41,710 | 44,654 | ||||||
Allowance for loan commitments, ending balance | 571 | 613 | 571 | 613 | 455 | ||||||
Total ending allowance for credit losses | 44,245 | 42,323 | 44,245 | 42,323 | 45,109 | ||||||
Commercial Real Estate - Land and Construction [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 4,390 | 5,654 | 4,390 | 5,654 | 6,056 | ||||||
Allowance for loan commitments, beginning balance | 157 | 194 | 157 | 194 | 301 | ||||||
Total beginning allowance for credit losses | 4,547 | 5,848 | 4,547 | 5,848 | 6,357 | ||||||
Provision for loan losses | 26 | (1,265) | (402) | ||||||||
Provision for loan commitments | (6) | (37) | (107) | ||||||||
Total provision for credit losses | 20 | (1,302) | (509) | ||||||||
Charge-offs | (73) | ||||||||||
Recoveries | 5 | 1 | |||||||||
Net charge-offs | (68) | 1 | |||||||||
Allowance for loan losses, ending balance | 4,348 | 4,390 | 4,348 | 4,390 | 5,654 | ||||||
Allowance for loan commitments, ending balance | 151 | 157 | 151 | 157 | 194 | ||||||
Total ending allowance for credit losses | 4,499 | 4,547 | 4,499 | 4,547 | 5,848 | ||||||
Commercial Real Estate - Improved Property [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 14,748 | 17,573 | 14,748 | 17,573 | 18,157 | ||||||
Allowance for loan commitments, beginning balance | 26 | 10 | 26 | 10 | 62 | ||||||
Total beginning allowance for credit losses | 14,774 | 17,583 | 14,774 | 17,583 | 18,219 | ||||||
Provision for loan losses | 4,223 | 1,250 | 1,239 | ||||||||
Provision for loan commitments | (9) | 16 | (52) | ||||||||
Total provision for credit losses | 4,214 | 1,266 | 1,187 | ||||||||
Charge-offs | (1,886) | (4,915) | (2,426) | ||||||||
Recoveries | 1,543 | 840 | 603 | ||||||||
Net charge-offs | (343) | (4,075) | (1,823) | ||||||||
Allowance for loan losses, ending balance | 18,628 | 14,748 | 18,628 | 14,748 | 17,573 | ||||||
Allowance for loan commitments, ending balance | 17 | 26 | 17 | 26 | 10 | ||||||
Total ending allowance for credit losses | 18,645 | 14,774 | 18,645 | 14,774 | 17,583 | ||||||
Commercial and Industrial [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 10,002 | 9,063 | 10,002 | 9,063 | 9,925 | ||||||
Allowance for loan commitments, beginning balance | 260 | 112 | 260 | 112 | 130 | ||||||
Total beginning allowance for credit losses | 10,262 | 9,175 | 10,262 | 9,175 | 10,055 | ||||||
Provision for loan losses | 1,160 | 3,289 | 1,429 | ||||||||
Provision for loan commitments | (72) | 148 | (18) | ||||||||
Total provision for credit losses | 1,088 | 3,437 | 1,411 | ||||||||
Charge-offs | (3,070) | (2,785) | (3,485) | ||||||||
Recoveries | 320 | 435 | 1,194 | ||||||||
Net charge-offs | (2,750) | (2,350) | (2,291) | ||||||||
Allowance for loan losses, ending balance | 8,412 | 10,002 | 8,412 | 10,002 | 9,063 | ||||||
Allowance for loan commitments, ending balance | 188 | 260 | 188 | 260 | 112 | ||||||
Total ending allowance for credit losses | 8,600 | 10,262 | 8,600 | 10,262 | 9,175 | ||||||
Deposit Overdraft [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 342 | 575 | 342 | 575 | 520 | ||||||
Total beginning allowance for credit losses | 342 | 575 | 342 | 575 | 520 | ||||||
Provision for loan losses | 1,077 | 391 | 601 | ||||||||
Total provision for credit losses | 1,077 | 391 | 601 | ||||||||
Charge-offs | (884) | (846) | (779) | ||||||||
Recoveries | 225 | 222 | 233 | ||||||||
Net charge-offs | (659) | (624) | (546) | ||||||||
Allowance for loan losses, ending balance | 760 | 342 | 760 | 342 | 575 | ||||||
Total ending allowance for credit losses | 760 | 342 | 760 | 342 | 575 | ||||||
Residential Real Estate [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 4,582 | 5,382 | 4,582 | 5,382 | 5,673 | ||||||
Allowance for loan commitments, beginning balance | 7 | 9 | 7 | 9 | 5 | ||||||
Total beginning allowance for credit losses | 4,589 | 5,391 | 4,589 | 5,391 | 5,678 | ||||||
Provision for loan losses | 16 | 399 | 1,692 | ||||||||
Provision for loan commitments | 2 | (2) | 4 | ||||||||
Total provision for credit losses | 18 | 397 | 1,696 | ||||||||
Charge-offs | (937) | (1,803) | (2,437) | ||||||||
Recoveries | 445 | 604 | 454 | ||||||||
Net charge-offs | (492) | (1,199) | (1,983) | ||||||||
Allowance for loan losses, ending balance | 4,106 | 4,582 | 4,106 | 4,582 | 5,382 | ||||||
Allowance for loan commitments, ending balance | 9 | 7 | 9 | 7 | 9 | ||||||
Total ending allowance for credit losses | 4,115 | 4,589 | 4,115 | 4,589 | 5,391 | ||||||
Consumer [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 4,763 | 4,078 | 4,763 | 4,078 | 5,020 | ||||||
Allowance for loan commitments, beginning balance | 46 | 40 | 46 | 40 | 19 | ||||||
Total beginning allowance for credit losses | 4,809 | 4,118 | 4,809 | 4,118 | 5,039 | ||||||
Provision for loan losses | 1,356 | 2,337 | 1,144 | ||||||||
Provision for loan commitments | (2) | 6 | 21 | ||||||||
Total provision for credit losses | 1,354 | 2,343 | 1,165 | ||||||||
Charge-offs | (3,606) | (2,892) | (3,120) | ||||||||
Recoveries | 1,485 | 1,240 | 1,034 | ||||||||
Net charge-offs | (2,121) | (1,652) | (2,086) | ||||||||
Allowance for loan losses, ending balance | 3,998 | 4,763 | 3,998 | 4,763 | 4,078 | ||||||
Allowance for loan commitments, ending balance | 44 | 46 | 44 | 46 | 40 | ||||||
Total ending allowance for credit losses | 4,042 | 4,809 | 4,042 | 4,809 | 4,118 | ||||||
Home Equity [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Allowance for loan losses, beginning balance | 2,883 | 2,329 | 2,883 | 2,329 | 2,017 | ||||||
Allowance for loan commitments, beginning balance | 117 | 90 | 117 | 90 | 85 | ||||||
Total beginning allowance for credit losses | $ 3,000 | $ 2,419 | 3,000 | 2,419 | 2,102 | ||||||
Provision for loan losses | 662 | 1,794 | 849 | ||||||||
Provision for loan commitments | 45 | 27 | 5 | ||||||||
Total provision for credit losses | 707 | 1,821 | 854 | ||||||||
Charge-offs | (397) | (1,502) | (652) | ||||||||
Recoveries | 274 | 262 | 115 | ||||||||
Net charge-offs | (123) | (1,240) | (537) | ||||||||
Allowance for loan losses, ending balance | 3,422 | 2,883 | 3,422 | 2,883 | 2,329 | ||||||
Allowance for loan commitments, ending balance | 162 | 117 | 162 | 117 | 90 | ||||||
Total ending allowance for credit losses | $ 3,584 | $ 3,000 | $ 3,584 | $ 3,000 | $ 2,419 |
Loans and the Allowance for C71
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 877 | $ 1,521 | ||
Allowance for loans collectively evaluated for impairment | 42,797 | 40,189 | ||
Allowance for loan commitments | 571 | 613 | $ 455 | $ 602 |
Total allowance for credit losses | 44,245 | 42,323 | 45,109 | 47,970 |
Individually evaluated for impairment | 4,282 | 8,903 | ||
Collectively evaluated for impairment | 6,232,295 | 5,047,650 | ||
Acquired with deteriorated credit quality | 12,859 | 9,289 | ||
Total Loans | 6,249,436 | 5,065,842 | ||
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,348 | 4,390 | ||
Allowance for loan commitments | 151 | 157 | 194 | 301 |
Total allowance for credit losses | 4,499 | 4,547 | 5,848 | 6,357 |
Collectively evaluated for impairment | 494,928 | 343,832 | ||
Acquired with deteriorated credit quality | 1,611 | 916 | ||
Total Loans | 496,539 | 344,748 | ||
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 470 | 668 | ||
Allowance for loans collectively evaluated for impairment | 18,158 | 14,080 | ||
Allowance for loan commitments | 17 | 26 | 10 | 62 |
Total allowance for credit losses | 18,645 | 14,774 | 17,583 | 18,219 |
Individually evaluated for impairment | 3,012 | 4,031 | ||
Collectively evaluated for impairment | 2,364,067 | 1,899,738 | ||
Acquired with deteriorated credit quality | 9,893 | 7,864 | ||
Total Loans | 2,376,972 | 1,911,633 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 407 | 853 | ||
Allowance for loans collectively evaluated for impairment | 8,005 | 9,149 | ||
Allowance for loan commitments | 188 | 260 | 112 | 130 |
Total allowance for credit losses | 8,600 | 10,262 | 9,175 | 10,055 |
Individually evaluated for impairment | 1,270 | 4,872 | ||
Collectively evaluated for impairment | 1,086,445 | 732,957 | ||
Acquired with deteriorated credit quality | 403 | 49 | ||
Total Loans | 1,088,118 | 737,878 | ||
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 760 | 342 | ||
Total allowance for credit losses | 760 | 342 | 575 | 520 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,106 | 4,582 | ||
Allowance for loan commitments | 9 | 7 | 9 | 5 |
Total allowance for credit losses | 4,115 | 4,589 | 5,391 | 5,678 |
Collectively evaluated for impairment | 1,382,447 | 1,247,639 | ||
Acquired with deteriorated credit quality | 943 | 161 | ||
Total Loans | 1,383,390 | 1,247,800 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,998 | 4,763 | ||
Allowance for loan commitments | 44 | 46 | 40 | 19 |
Total allowance for credit losses | 4,042 | 4,809 | 4,118 | 5,039 |
Collectively evaluated for impairment | 396,049 | 406,622 | ||
Acquired with deteriorated credit quality | 9 | 272 | ||
Total Loans | 396,058 | 406,894 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,422 | 2,883 | ||
Allowance for loan commitments | 162 | 117 | 90 | 85 |
Total allowance for credit losses | 3,584 | 3,000 | $ 2,419 | $ 2,102 |
Collectively evaluated for impairment | 508,359 | 416,862 | ||
Acquired with deteriorated credit quality | 27 | |||
Total Loans | $ 508,359 | $ 416,889 |
Loans and the Allowance for C72
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Receivables [Abstract] | |
Troubled debt restructuring threshold | $ 1 |
Loans and the Allowance for C73
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Summary of commercial loans by risk grade | ||
Commercial loans | $ 6,205,762 | $ 5,024,132 |
Commercial Portfolio Segment [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,961,629 | 2,994,259 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,886,886 | 2,914,553 |
Commercial Portfolio Segment [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 24,778 | 26,298 |
Commercial Portfolio Segment [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 49,965 | 53,408 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 496,539 | 344,748 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 489,380 | 335,989 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 4,405 | 5,527 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,754 | 3,232 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,376,972 | 1,911,633 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,324,755 | 1,864,986 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 15,295 | 10,911 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 36,922 | 35,736 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,088,118 | 737,878 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,072,751 | 713,578 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,078 | 9,860 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | $ 10,289 | $ 14,440 |
Loans and the Allowance for C74
Loans and the Allowance for Credit Losses - Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 1,206 | |
Acquisitions | 837 | $ 1,815 |
Reduction due to change in projected cash flows | (484) | |
Reclass from non-accretable difference | 1,065 | |
Transfers out | (328) | |
Accretion | (579) | (609) |
Balance at end of period | $ 1,717 | $ 1,206 |
Loans and the Allowance for C75
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Current | $ 6,204,822 | $ 5,028,841 |
Total Past Due | 44,614 | 37,001 |
Total Loans | 6,249,436 | 5,065,842 |
90 Days or More Past Due and Accruing | 3,739 | 3,126 |
Loans held for sale, current | 17,315 | 7,899 |
Loans held for sale | 17,315 | 7,899 |
Total loans, current | 6,222,137 | 5,036,740 |
Total loans | 6,266,751 | 5,073,741 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 502,087 | 412,450 |
Total Past Due | 6,272 | 4,439 |
Total Loans | 508,359 | 416,889 |
90 Days or More Past Due and Accruing | 626 | 407 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 2,864,035 | 2,245,650 |
Total Past Due | 9,476 | 10,731 |
Total Loans | 2,873,511 | 2,256,381 |
90 Days or More Past Due and Accruing | 318 | |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,365,956 | 1,234,839 |
Total Past Due | 17,434 | 12,961 |
Total Loans | 1,383,390 | 1,247,800 |
90 Days or More Past Due and Accruing | 1,922 | 2,159 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 390,354 | 401,242 |
Total Past Due | 5,704 | 5,652 |
Total Loans | 396,058 | 406,894 |
90 Days or More Past Due and Accruing | 644 | 527 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 496,245 | 344,184 |
Total Past Due | 294 | 564 |
Total Loans | 496,539 | 344,748 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 2,367,790 | 1,901,466 |
Total Past Due | 9,182 | 10,167 |
Total Loans | 2,376,972 | 1,911,633 |
90 Days or More Past Due and Accruing | 318 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,082,390 | 734,660 |
Total Past Due | 5,728 | 3,218 |
Total Loans | 1,088,118 | 737,878 |
90 Days or More Past Due and Accruing | 229 | 33 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 7,570 | 11,349 |
Total Past Due | 24,214 | 22,032 |
Total Loans | 31,784 | 33,381 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 7,014 | 10,710 |
Total Past Due | 632 | 838 |
Total Loans | 7,646 | 11,548 |
Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 14,584 | 22,059 |
Total Past Due | 24,846 | 22,870 |
Total Loans | 39,430 | 44,929 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 16,395 | 8,963 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,358 | 2,252 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,154 | 909 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 6,701 | 1,389 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,674 | 4,115 |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,154 | 909 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,508 | 298 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,479 | 943 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 342 | 390 |
30-59 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,821 | 1,333 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 4,428 | 5,760 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 862 | 314 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 363 | 1,097 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,043 | 2,871 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,149 | 764 |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 363 | 1,097 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,011 | 714 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 923 | 2,147 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 50 | 238 |
60-89 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 973 | 2,385 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 23,791 | 22,278 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,052 | 1,873 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 7,959 | 8,725 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 9,690 | 8,701 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 881 | 773 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 294 | 564 |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 7,665 | 8,161 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,209 | 2,206 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 19,812 | 18,942 |
90 Days or More Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 240 | 210 |
90 Days or More Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 20,052 | $ 19,152 |
Loans and the Allowance for C76
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for C77
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | $ 41,119 | $ 44,931 | |
Total impaired loans, Unpaid principal balance | 49,006 | 54,119 | |
Recorded Investment, With no specific allowance recorded | 35,148 | 37,045 | |
Total impaired loans, Recorded investment | 39,430 | 44,929 | |
Unpaid Principal Balance, With a specific allowance recorded | 7,887 | 9,188 | |
Recorded Investment, With a specific allowance recorded | 4,282 | 7,884 | |
Related Allowance, With a specific allowance recorded | 877 | 1,521 | |
Average recorded investment, with no related specific allowance | 34,741 | 44,326 | $ 45,514 |
Interest income recognized, With no related specific allowance | 460 | 1,705 | 1,606 |
Average recorded investment, With a specific allowance recorded | 6,226 | 9,475 | 4,870 |
Interest income recognized, With a specific allowance recorded | 292 | 443 | |
Total impaired loans, Average recorded investment | 40,967 | 53,801 | 50,384 |
Total impaired loans, Interest income recognized | 460 | 1,997 | 2,049 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 20,152 | 18,560 | |
Recorded Investment, With no specific allowance recorded | 18,305 | 16,688 | |
Average recorded investment, with no related specific allowance | 17,021 | 17,876 | 18,829 |
Interest income recognized, With no related specific allowance | 308 | 862 | 855 |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 884 | 1,603 | |
Recorded Investment, With no specific allowance recorded | 744 | 1,294 | |
Average recorded investment, with no related specific allowance | 909 | 1,199 | 1,122 |
Interest income recognized, With no related specific allowance | 8 | 105 | 97 |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 4,589 | 3,562 | |
Recorded Investment, With no specific allowance recorded | 4,011 | 3,033 | |
Average recorded investment, with no related specific allowance | 3,502 | 2,924 | 2,356 |
Interest income recognized, With no related specific allowance | 20 | 90 | 75 |
Commercial Real Estate - Land and Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 1,212 | 2,126 | |
Recorded Investment, With no specific allowance recorded | 766 | 1,990 | |
Average recorded investment, with no related specific allowance | 993 | 2,156 | 1,977 |
Interest income recognized, With no related specific allowance | 41 | 35 | |
Commercial Real Estate - Improved Property [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 9,826 | 14,817 | |
Recorded Investment, With no specific allowance recorded | 8,141 | 10,559 | |
Unpaid Principal Balance, With a specific allowance recorded | 3,012 | 3,012 | |
Recorded Investment, With a specific allowance recorded | 3,012 | 3,012 | |
Related Allowance, With a specific allowance recorded | 470 | 668 | |
Average recorded investment, with no related specific allowance | 9,128 | 17,192 | 17,669 |
Interest income recognized, With no related specific allowance | 115 | 437 | 441 |
Average recorded investment, With a specific allowance recorded | 3,012 | 5,896 | 2,795 |
Interest income recognized, With a specific allowance recorded | 348 | ||
Commercial and Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance, With no specific allowance recorded | 4,456 | 4,263 | |
Recorded Investment, With no specific allowance recorded | 3,181 | 3,481 | |
Unpaid Principal Balance, With a specific allowance recorded | 4,875 | 6,176 | |
Recorded Investment, With a specific allowance recorded | 1,270 | 4,872 | |
Related Allowance, With a specific allowance recorded | 407 | 853 | |
Average recorded investment, with no related specific allowance | 3,188 | 2,979 | 3,561 |
Interest income recognized, With no related specific allowance | 9 | 170 | 103 |
Average recorded investment, With a specific allowance recorded | $ 3,214 | 3,579 | 2,075 |
Interest income recognized, With a specific allowance recorded | $ 292 | $ 95 |
Loans and the Allowance for C78
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 31,784 | $ 33,381 |
TDRs | 11,192 | 16,165 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 7,646 | 11,548 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 3,546 | 4,617 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 766 | 1,023 |
TDRs | 8 | 1,398 |
Commercial Real Estate - Land and Construction [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 967 | |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 8 | 431 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 9,535 | 11,507 |
TDRs | 2,306 | 3,506 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,618 | 2,064 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 688 | 1,442 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 4,299 | 8,148 |
TDRs | 303 | 487 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 152 | 205 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 151 | 282 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 3,538 | 2,391 |
TDRs | 770 | 860 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 473 | 642 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 297 | 218 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 10,301 | 12,530 |
TDRs | 2,314 | 4,904 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,618 | 3,031 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 696 | 1,873 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 12,994 | 9,461 |
TDRs | 7,523 | 9,287 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 5,311 | 7,227 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,212 | 2,060 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 652 | 851 |
TDRs | 282 | 627 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 92 | 443 |
Consumer [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 190 | $ 184 |
Loans and the Allowance for C79
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) | Dec. 31, 2016USD ($)Borrowers |
Receivables [Abstract] | |
Number of borrowers with loans greater than one million | Borrowers | 2 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1,000,000 |
Borrowers with large amount of loans outstanding, net | $ 4,300,000 |
Loans and the Allowance for C80
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 21 | 24 |
Pre-Modification Outstanding Recorded Investment | $ 445 | $ 1,801 |
Post-Modification Outstanding Recorded Investment | $ 400 | $ 1,251 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 128 | |
Post-Modification Outstanding Recorded Investment | $ 115 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 5 | |
Pre-Modification Outstanding Recorded Investment | $ 1,084 | |
Post-Modification Outstanding Recorded Investment | $ 603 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 125 | $ 57 |
Post-Modification Outstanding Recorded Investment | $ 120 | $ 43 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 8 | |
Pre-Modification Outstanding Recorded Investment | $ 1,212 | |
Post-Modification Outstanding Recorded Investment | $ 718 | |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 178 | $ 456 |
Post-Modification Outstanding Recorded Investment | $ 166 | $ 426 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 14 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 98 | $ 69 |
Post-Modification Outstanding Recorded Investment | $ 74 | $ 58 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Modifications | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 44 | $ 7 |
Post-Modification Outstanding Recorded Investment | $ 40 | $ 6 |
Loans and the Allowance for C81
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Defaults | Dec. 31, 2015USD ($)Defaults | |
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | 3 |
Recorded Investment | $ | $ 16 | $ 392 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | |
Recorded Investment | $ | $ 370 | |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 22 | |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 16 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | |
Recorded Investment | $ | $ 370 |
Loans and the Allowance for C82
Loans and the Allowance for Credit Losses - Recognition of Interest Income on Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Receivables [Abstract] | |||
Average impaired loans | $ 40,967 | $ 53,801 | $ 50,384 |
Amount of contractual interest income on impaired loans | 2,747 | 3,061 | 3,260 |
Amount of interest income recognized on impaired loans | $ 460 | $ 1,997 | $ 2,049 |
Loans and the Allowance for C83
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Other real estate owned | $ 8,206 | $ 5,669 |
Repossessed assets | 140 | 156 |
Total other real estate owned and repossessed assets | $ 8,346 | $ 5,825 |
Premises and Equipment - Schedu
Premises and Equipment - Schedule of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Abstract] | ||
Land and improvements | $ 43,059 | $ 32,665 |
Buildings and improvements | 136,546 | 121,645 |
Furniture and equipment | 72,050 | 71,959 |
Total cost | 251,655 | 226,269 |
Accumulated depreciation and amortization | (118,358) | (114,066) |
Total premises and equipment, net | $ 133,297 | $ 112,203 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense charged | $ 9.2 | $ 8.1 | $ 7.4 |
Rent expense under leases | $ 3.5 | $ 3.1 | $ 2.7 |
Premises and Equipment - Future
Premises and Equipment - Future Minimum Lease Payments Under Non-cancellable Leases (Detail) | Dec. 31, 2016USD ($) |
Property, Plant and Equipment [Abstract] | |
2,017 | $ 4,340,000 |
2,018 | 3,366,000 |
2,019 | 2,823,000 |
2,020 | 2,694,000 |
2,021 | 2,221,000 |
2022 and thereafter | 14,649,000 |
Total | $ 30,093,000 |
Goodwill and Other Intangible87
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 09, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Goodwill | $ 573,800 | $ 480,600 | ||
Other intangible assets | 19,384 | 10,336 | ||
Amortization of intangible assets | 2,900 | 2,400 | $ 1,900 | |
Amortization of intangible assets | 3,598 | 3,136 | $ 1,920 | |
Amortization expense expected to be recognized in year one | 4,066 | |||
Amortization expense expected to be recognized in year two | 3,543 | |||
Amortization expense expected to be recognized in year three | 3,037 | |||
Your Community Bankshares, Inc [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Goodwill acquired | $ 92,889 | 92,900 | ||
Your Community Bankshares, Inc [Member] | Core Deposits [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible assets acquired | 12,000 | |||
ESB Financial Corporation [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Goodwill acquired | 168,800 | |||
ESB Financial Corporation [Member] | Core Deposits [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible assets acquired | 5,300 | |||
YCB and ESB [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Amortization of intangible assets | 700 | $ 700 | ||
Amortization expense expected to be recognized in year one | 900 | |||
Amortization expense expected to be recognized in year two | 600 | |||
Amortization expense expected to be recognized in year three | $ 200 | |||
Minimum [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 10 years | |||
Minimum [Member] | YCB and ESB [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 1 year | |||
Maximum [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 16 years | |||
Maximum [Member] | YCB and ESB [Member] | Noncompete Agreements [Member] | ||||
Intangible Assets Goodwill And Other Assets [Line Items] | ||||
Intangible asset, useful life | 4 years |
Goodwill and Other Intangible88
Goodwill and Other Intangible Assets - WesBanco's Capitalized Other Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other intangible assets: | ||
Gross carrying amount | $ 37,725 | $ 28,674 |
Accumulated amortization | (18,341) | (18,338) |
Net carrying amount of other intangible assets | $ 19,384 | $ 10,336 |
Goodwill and Other Intangible89
Goodwill and Other Intangible Assets - Schedule of Future Amortization on Intangible Assets (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,017 | $ 4,066 |
2,018 | 3,543 |
2,019 | 3,037 |
2,020 | 2,564 |
2,021 | $ 2,122 |
Investments in Limited Partne90
Investments in Limited Partnerships - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)Partnership | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Schedule of Investments [Line Items] | |||
Amount invested in partnerships | $ 14,300 | $ 3,100 | |
Unfunded equity commitments in other liabilities | 8,200 | 2,100 | |
Income (loss) from equity method investments | 900 | 600 | $ 900 |
Tax benefits including low-income housing and historic tax credits | $ 800 | 500 | 700 |
Number of limited partnerships held | Partnership | 7 | ||
Investment in partnership recorded in other assets | $ 5,200 | 5,200 | |
Partnership gains (losses) under equity method | 19 | (1) | $ 300 |
AMSCO Inc [Member] | |||
Schedule of Investments [Line Items] | |||
Income (loss) from equity method investments | 500 | 300 | |
Equity method investment | $ 8,300 | $ 7,700 |
Certificates of Deposit - Addit
Certificates of Deposit - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Disclosure [Abstract] | |||
Certificates of deposit in denominations of $100 thousand or more | $ 681.5 | $ 780.1 | |
Interest expense on certificates of deposit of $100 thousand or more | $ 5 | $ 4.9 | $ 7.5 |
Certificates of Deposit - Sched
Certificates of Deposit - Schedule of Maturities of Total Certificates of Deposit (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Time Deposits, Fiscal Year Maturity [Abstract] | ||
2,017 | $ 840,796 | |
2,018 | 265,666 | |
2,019 | 134,905 | |
2,020 | 135,763 | |
2,021 | 82,743 | |
2022 and thereafter | 35,949 | |
Total | $ 1,495,822 | $ 1,557,838 |
FHLB and Other Short-Term Bor93
FHLB and Other Short-Term Borrowings - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Borrowings | $ 968,946,000 | $ 1,041,750,000 |
Weighted-average rate, Total | 1.19% | 1.17% |
FHLB stock owned by WesBanco pledged as collateral on these advances | $ 46,400,000 | $ 45,500,000 |
Remaining maximum borrowing capacity | 1,700,000,000 | 1,100,000,000 |
Other short term borrowings | 199,376,000 | 81,356,000 |
Securities sold under agreements to repurchase | $ 141,400,000 | $ 81,400,000 |
Securities sold under agreements to repurchase, weighted average interest rate | 0.38% | 0.32% |
Federal funds purchased | $ 58,000,000 | $ 0 |
Securities sold under agreements to repurchase, interest rate | 0.85% | |
Outstanding balance | $ 0 | $ 0 |
Revolving Credit Facility [Member] | ||
Federal Home Loan Bank Advances By Branch Of FHLB Bank And Other Borrowings [Line Items] | ||
Revolving line of credit accrued interest at LIBOR rate, provides for aggregate outstanding borrowings | $ 25,000,000 | |
Initiation date of revolving credit facility | Sep. 30, 2016 |
FHLB and Other Short-Term Bor94
FHLB and Other Short-Term Borrowings - Schedule of Aggregate Annual Maturities and Weighted-Average Interest Rates of FHLB Borrowing (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract] | ||
2,017 | $ 649,756 | |
2,018 | 310,998 | |
2,019 | 4,600 | |
2,020 | 1,105 | |
2,021 | 314 | |
2022 and thereafter | 2,173 | |
Total | $ 968,946 | $ 1,041,750 |
2,017 | 1.11% | |
2,018 | 1.32% | |
2,019 | 3.72% | |
2,020 | 4.40% | |
2,021 | 5.25% | |
2022 and thereafter | 1.43% | |
Total | 1.19% |
Subordinated Debt and Junior 95
Subordinated Debt and Junior Subordinated Debt - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Trust Preferred Securities [Line Items] | |
Description of deferment period for payment of interest on junior subordinated debt under trust | 20 consecutive quarterly periods |
Minimum assets to continue counting existing trust preferred securities | $ 15,000,000,000 |
WesBanco Capital Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Debt maturity date | Jun. 30, 2033 |
Variable rate based on the three-month LIBOR plus | 3.15% |
Your Community Bankshares, Inc [Member] | WesBanco Capital Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Subordinated debt outstanding | $ 26,000,000 |
Debt maturity date | Dec. 15, 2025 |
Fixed interest rate | 6.25% |
Debt callable date | Dec. 15, 2020 |
Variable rate based on the three-month LIBOR plus | 4.59% |
Subordinated Debt and Junior 96
Subordinated Debt and Junior Subordinated Debt - Schedule of Junior Subordinated Debt by Trusts (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 133,286 |
Common Securities | 4,273 |
Junior Subordinated Debt | 137,559 |
WesBanco Capital Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | 13,000 |
Common Securities | 410 |
Junior Subordinated Debt | $ 13,410 |
Stated Maturity Date | Jun. 30, 2033 |
Optional Redemption Date | Jun. 30, 2008 |
WesBanco Capital Statutory Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 17,000 |
Common Securities | 526 |
Junior Subordinated Debt | $ 17,526 |
Stated Maturity Date | Jun. 26, 2033 |
Optional Redemption Date | Jun. 26, 2008 |
WesBanco Capital Trust IV [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 20,000 |
Common Securities | 619 |
Junior Subordinated Debt | $ 20,619 |
Stated Maturity Date | Jun. 17, 2034 |
Optional Redemption Date | Jun. 17, 2009 |
WesBanco Capital Trust V [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 20,000 |
Common Securities | 619 |
Junior Subordinated Debt | $ 20,619 |
Stated Maturity Date | Jun. 17, 2034 |
Optional Redemption Date | Jun. 17, 2009 |
WesBanco Capital Trust VI [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 15,000 |
Common Securities | 464 |
Junior Subordinated Debt | $ 15,464 |
Stated Maturity Date | Mar. 17, 2035 |
Optional Redemption Date | Mar. 17, 2010 |
Oak Hill Capital Trust 2 [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 5,000 |
Common Securities | 155 |
Junior Subordinated Debt | $ 5,155 |
Stated Maturity Date | Oct. 18, 2034 |
Optional Redemption Date | Oct. 18, 2009 |
Oak Hill Capital Trust 3 [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 8,000 |
Common Securities | 248 |
Junior Subordinated Debt | $ 8,248 |
Stated Maturity Date | Oct. 18, 2034 |
Optional Redemption Date | Oct. 18, 2009 |
Oak Hill Capital Trust 4 [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 5,000 |
Common Securities | 155 |
Junior Subordinated Debt | $ 5,155 |
Stated Maturity Date | Jun. 30, 2035 |
Optional Redemption Date | Jun. 30, 2015 |
Community Bank Shares Statutory Trust I [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 5,905 |
Common Securities | 217 |
Junior Subordinated Debt | $ 6,122 |
Stated Maturity Date | Jun. 17, 2034 |
Optional Redemption Date | Jun. 17, 2014 |
Community Bank Shares Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 7,901 |
Common Securities | 310 |
Junior Subordinated Debt | $ 8,211 |
Stated Maturity Date | Jun. 15, 2036 |
Optional Redemption Date | Jun. 15, 2016 |
First Federal Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 8,145 |
Common Securities | 310 |
Junior Subordinated Debt | $ 8,455 |
Stated Maturity Date | Mar. 22, 2037 |
Optional Redemption Date | Mar. 15, 2017 |
First Federal Statutory Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Trust Preferred Securities | $ 8,335 |
Common Securities | 240 |
Junior Subordinated Debt | $ 8,575 |
Stated Maturity Date | Jun. 24, 2038 |
Optional Redemption Date | Jun. 24, 2018 |
Subordinated Debt and Junior 97
Subordinated Debt and Junior Subordinated Debt - Schedule of Junior Subordinated Debt by Trusts (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
WesBanco Capital Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 3.15% |
Variable rate based on the three-month LIBOR plus, current rate | 4.15% |
WesBanco Capital Statutory Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 3.10% |
Variable rate based on the three-month LIBOR plus, current rate | 4.10% |
WesBanco Capital Trust IV [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.65% |
Variable rate based on the three-month LIBOR plus, current rate | 3.64% |
WesBanco Capital Trust V [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.65% |
Variable rate based on the three-month LIBOR plus, current rate | 3.64% |
WesBanco Capital Trust VI [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.77% |
Variable rate based on the three-month LIBOR plus, current rate | 2.76% |
Oak Hill Capital Trust 2 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.40% |
Variable rate based on the three-month LIBOR plus, current rate | 3.28% |
Oak Hill Capital Trust 3 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.30% |
Variable rate based on the three-month LIBOR plus, current rate | 3.18% |
Oak Hill Capital Trust 4 [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.60% |
Variable rate based on the three-month LIBOR plus, current rate | 2.60% |
Community Bank Shares Statutory Trust I [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 2.65% |
Variable rate based on the three-month LIBOR plus, current rate | 3.64% |
Community Bank Shares Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.70% |
Variable rate based on the three-month LIBOR plus, current rate | 2.66% |
First Federal Statutory Trust II [Member] | |
Trust Preferred Securities [Line Items] | |
Variable rate based on the three-month LIBOR plus | 1.60% |
Fixed interest rate | 6.69% |
First Federal Statutory Trust III [Member] | |
Trust Preferred Securities [Line Items] | |
Fixed interest rate | 8.00% |
Debt callable year | Jun. 24, 2018 |
Derivatives and Hedging Activ98
Derivatives and Hedging Activities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Derivative | Dec. 31, 2015USD ($)Derivative | Dec. 31, 2014USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Aggregate notional amount | $ 206,900,000 | $ 69,600,000 | |
Collateral posted with market value on liability positions with credit risk-related contingent features | $ 7,200,000 | ||
Interest Rate Swap [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Number of interest rate swaps | Derivative | 24 | 12 | |
Net gain (loss) on change in fair value | $ 500,000 | $ 3,000 | $ (200,000) |
Income (loss) on derivative instrument not designated hedges | 2,500,000 | 200,000 | $ 600,000 |
Interest Rate Lock Commitments [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Aggregate notional amount | 19,500,000 | 14,500,000 | |
Loss on derivative fair value | $ 44,000 | $ 20,000 |
Derivatives and Hedging Activ99
Derivatives and Hedging Activities - Summary of Fair Values of Derivative Instruments on Balance Sheets (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | $ 5,596 | $ 1,893 |
Total Liability Derivatives | 5,199 | 1,991 |
Interest Rate Product [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 5,596 | 1,893 |
Total Liability Derivatives | $ 5,199 | $ 1,991 |
Derivatives and Hedging Acti100
Derivatives and Hedging Activities - Summary of Effect of Derivative Instruments on Income Statement (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total gain (loss) on derivative financial instruments | $ 495 | $ 3 | $ (162) |
Interest Rate Product [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total gain (loss) on derivative financial instruments | $ 495 | $ 3 | $ (162) |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | Sep. 09, 2016 | May 25, 2016 | Nov. 18, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Benefits bases on years of service and compensation, years | 5 years | |||||
Future defined benefit plan estimated service and interest cost | $ 1,000,000 | |||||
Future amortization of net loss | 3,100,000 | |||||
Future net periodic pension costs | $ 26,000 | |||||
Average remaining service period of unrecognized net losses | 9 years | |||||
Maximum amount of pension plan invested | 5.00% | |||||
Maximum common stock percentage of market value of investee | 5.00% | |||||
Maximum period for invested in bonds or notes issued | 20 years | |||||
Number of equity shares | 55,300 | 55,300 | ||||
Common stock fair market value | $ 2,400,000 | $ 1,700,000 | ||||
Expected voluntary contribution for the year 2017 | 5,000,000 | |||||
Contribution of pension fund | 5,750,000 | 7,500,000 | $ 7,500,000 | |||
Projected benefit obligations | $ 115,458,000 | $ 109,400,000 | $ 118,261,000 | |||
Eligible employee contributions specified percentage one | 3.00% | 3.00% | 3.00% | |||
Eligible employee contributions specified percentage two | 2.00% | 2.00% | 2.00% | |||
ESOP | $ 0 | $ 0 | $ 0 | |||
Eligibility percentage of employee contributions | 100.00% | 100.00% | 100.00% | |||
Eligibility percentage of employee contributions | 50.00% | 50.00% | 50.00% | |||
Compensation expense for Annual Bonus | $ 1,600,000 | $ 1,300,000 | $ 1,500,000 | |||
Stock options granted to selected participants | 96,600 | |||||
Stock options granted to selected participants exercise price per share | $ 32.37 | |||||
Options grant expired | 7 years | |||||
Total intrinsic value of options exercised | $ 1,200,000 | 600,000 | ||||
Cash received from stock option exercised | 2,500,000 | 1,400,000 | ||||
Tax benefit realized from stock options exercised | 400,000 | 200,000 | ||||
Total intrinsic value of the outstanding shares | 3,700,000 | |||||
Total intrinsic value of the shares exercisable | 3,200,000 | |||||
Your Community Bankshares, Inc [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Plan assets | 1,200,000 | |||||
Projected benefit obligations | $ 1,400,000 | |||||
Shareholder Return Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares earned by participants | 200.00% | |||||
Total shareholder return measurement period | 3 years | |||||
Restricted shares vesting period | 3 years | |||||
Number of shares granted | 12,000 | 0 | ||||
KSOP [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares held by KSOP | 508,066 | |||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 2,800,000 | $ 2,500,000 | 2,200,000 | |||
Future issuance under equity compensation plans | 445,978 | 484,430 | ||||
Equity Compensation Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Future issuance under equity compensation plans | 117,266 | 288,541 | ||||
Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 500,000 | $ 500,000 | 400,000 | |||
Options grant expired | 7 years | |||||
Total unrecognized compensation expense related to non-vested stock option grants | $ 200,000 | |||||
Expense recognition period | 1 year | |||||
Stock Option [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Options grant expired | 10 years | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total expense for the KSOP/Compensation expense for the stock option component of the Plan | $ 1,400,000 | $ 1,200,000 | $ 1,000,000 | |||
Restricted shares vesting period | 36 months | |||||
Number of shares granted | 76,400 | |||||
Expense recognition period | 1 year 8 months 12 days | |||||
Fair value of restricted stock granted | $ 32.45 | |||||
Total unrecognized compensation expense related to non-vested restricted stock grants | $ 2,700,000 | |||||
Selected Participants Including Certain Executive Officers [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options granted to selected participants | 96,600 | |||||
Stock options granted to selected participants exercise price per share | $ 32.37 | |||||
Pentegra Defined Benefit Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Spinning off of asset cost | $ 3,300,000 |
Employee Benefit Plans - Summar
Employee Benefit Plans - Summary of Benefit Obligations and Funded Status of the Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation Related Costs [Abstract] | |||
Accumulated benefit obligation at end of year | $ 104,775 | $ 99,312 | |
Change in projected benefit obligation: | |||
Projected benefit obligation at beginning of year | 109,400 | 118,261 | |
Service cost | 2,799 | 3,355 | $ 2,909 |
Interest cost | 5,094 | 4,870 | 4,745 |
Actuarial (gain) loss | 2,569 | (13,413) | |
Acquisition | 1,392 | ||
Benefits paid | (5,796) | (3,673) | |
Projected benefit obligation at end of year | 115,458 | 109,400 | 118,261 |
Change in fair value of plan assets: | |||
Fair value of plan assets at beginning of year | 113,292 | 110,037 | |
Actual return on plan assets | 7,125 | (572) | |
Employer contribution | 5,750 | 7,500 | 7,500 |
Acquisition | 1,226 | ||
Benefits paid | (5,796) | (3,673) | |
Fair value of plan assets at end of year | 121,597 | 113,292 | $ 110,037 |
Amounts recognized in the statement of financial position: | |||
Funded status | 6,139 | 3,892 | |
Net amounts recognized as receivable pension costs in the consolidated balance sheets | 6,139 | 3,892 | |
Amounts recognized in accumulated other comprehensive income consist of: | |||
Unrecognized prior service cost | 130 | 156 | |
Unrecognized net loss | 27,857 | 27,549 | |
Net amounts recognized in accumulated other comprehensive income (before tax) | $ 27,987 | $ 27,705 | |
Weighted average assumptions used to determine benefit obligations: | |||
Discount rate | 4.46% | 4.74% | |
Rate of compensation increase | 3.74% | 3.82% | |
Expected long-term return on assets | 6.30% | 6.79% |
Employee Benefit Plans - Compon
Employee Benefit Plans - Components of and Weighted-Average Assumptions Used in Determining Net Periodic Benefit Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Components of net periodic benefit cost: | |||
Service cost - benefits earned during year | $ 2,799 | $ 3,355 | $ 2,909 |
Interest cost on projected benefit obligation | 5,094 | 4,870 | 4,745 |
Expected return on plan assets | (7,719) | (7,735) | (7,229) |
Amortization of prior service cost | 26 | 26 | 45 |
Amortization of net loss | 3,020 | 3,179 | 1,471 |
Net periodic pension cost | 3,220 | 3,695 | 1,941 |
Other changes in plan assets and benefit obligations recognized in other comprehensive income: | |||
Net (gain) loss for period | 3,329 | (5,106) | 24,934 |
Amortization of prior service cost | (26) | (26) | (45) |
Amortization of net loss | (3,020) | (3,179) | (1,471) |
Total recognized in other comprehensive income | 283 | (8,311) | 23,418 |
Total recognized in net periodic pension cost and other comprehensive income | $ 3,503 | $ (4,616) | $ 25,359 |
Weighted-average assumptions used to determine net periodic pension cost: | |||
Discount rate | 4.74% | 4.33% | 5.17% |
Rate of compensation increase | 3.82% | 3.77% | 3.97% |
Expected long-term return on assets | 6.79% | 7.00% | 7.25% |
Employee Benefit Plans - Sum104
Employee Benefit Plans - Summary of Weighted-Average Asset Allocations by Asset Category (Detail) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Total | 100.00% | 100.00% |
Equity Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation Minimum | 55.00% | |
Target Allocation Maximum | 75.00% | |
Total | 62.00% | 61.00% |
Debt Securities [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation Minimum | 25.00% | |
Target Allocation Maximum | 55.00% | |
Total | 35.00% | 34.00% |
Cash and Cash Equivalents [Member] | ||
Defined Benefit Plan Assets Target Allocations [Line Items] | ||
Target Allocation Minimum | 0.00% | |
Target Allocation Maximum | 5.00% | |
Total | 3.00% | 5.00% |
Employee Benefit Plans - Fair V
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 120,363 | $ 115,061 |
Registered Investment Companies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 21,935 | 23,741 |
Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 60,144 | 56,098 |
Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 18,110 | 16,802 |
Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 2,998 | 3,034 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 17,176 | 15,386 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 82,079 | 79,839 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Registered Investment Companies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 21,935 | 23,741 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 60,144 | 56,098 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 38,284 | 35,222 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 18,110 | 16,802 |
Significant Other Observable Inputs (Level 2) [Member] | Municipal Obligations [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | 2,998 | 3,034 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Agencies [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total defined benefit pension plan assets | $ 17,176 | $ 15,386 |
Employee Benefit Plans - Fai106
Employee Benefit Plans - Fair Values of the WesBanco's Pension Plan Assets (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Compensation Related Costs [Abstract] | |||
Net assets available for benefits | $ 121,597 | $ 113,292 | $ 110,037 |
Employee Benefit Plans - Estima
Employee Benefit Plans - Estimated Benefits to be Paid in Each of Next Five Years and in the Aggregate for the Five Years Thereafter (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Compensation Related Costs [Abstract] | |
2,017 | $ 3,903 |
2,018 | 4,150 |
2,019 | 4,409 |
2,020 | 4,748 |
2,021 | 5,212 |
2022 to 2026 | $ 31,684 |
Employee Benefit Plans - Signif
Employee Benefit Plans - Significant Assumptions Used in Calculating the Fair Value of the Grants (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation Related Costs [Abstract] | |||
Weighted-average life | 5 years 1 month 6 days | 4 years 10 months 24 days | 4 years 9 months 18 days |
Risk-free interest rate | 1.43% | 1.54% | 1.37% |
Dividend yield | 2.97% | 2.91% | 3.06% |
Volatility factor | 23.92% | 26.27% | 28.82% |
Fair value of the grants | $ 5.09 | $ 5.57 | $ 5.41 |
Employee Benefit Plans - Sum109
Employee Benefit Plans - Summary of Activity for the Stock Option Component of the Incentive Plan (Detail) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Compensation Related Costs [Abstract] | |
Number of options, Outstanding at beginning of the year | shares | 287,500 |
Number of options, Granted during the year | shares | 96,600 |
Number of options, Exercised during the year | shares | (101,190) |
Number of options, Forfeited or expired during the year | shares | (6,788) |
Number of options, Outstanding at end of the year | shares | 276,122 |
Number of options, Exercisable at year end | shares | 228,272 |
Weighted average exercise price per share, Outstanding at beginning of the year | $ / shares | $ 27.02 |
Weighted average exercise price per share, Granted during the year | $ / shares | 32.37 |
Weighted average exercise price per share, Exercised during the year | $ / shares | 24.58 |
Weighted average exercise price per share, Forfeited or expired during the year | $ / shares | 30.09 |
Weighted average exercise price per share, Outstanding at end of the year | $ / shares | 29.71 |
Weighted average exercise price per share, Exercisable at year end | $ / shares | $ 29.15 |
Employee Benefit Plans - Sum110
Employee Benefit Plans - Summary of Average Remaining Life of the Stock Options (Detail) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 228,272 |
Exercise Price Range Per Share Minimum | $ 19.27 |
Exercise Price Range Per Share Maximum | $ 32.37 |
Options Outstanding | shares | 276,122 |
Weighted Average Exercise Price | $ 29.71 |
Weighted Avg. Remaining Contractual Life in Years | 5 years 22 days |
2010 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 3,234 |
Exercise Price Range Per Share Minimum | $ 19.27 |
Options Outstanding | shares | 3,234 |
Weighted Average Exercise Price | $ 19.27 |
Weighted Avg. Remaining Contractual Life in Years | 4 months 17 days |
2011 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 6,250 |
Exercise Price Range Per Share Minimum | $ 19.76 |
Options Outstanding | shares | 6,250 |
Weighted Average Exercise Price | $ 19.76 |
Weighted Avg. Remaining Contractual Life in Years | 1 year 4 months 17 days |
2012 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 12,000 |
Exercise Price Range Per Share Minimum | $ 20.02 |
Options Outstanding | shares | 12,000 |
Weighted Average Exercise Price | $ 20.02 |
Weighted Avg. Remaining Contractual Life in Years | 2 years 4 months 13 days |
2013 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 30,750 |
Exercise Price Range Per Share Minimum | $ 25 |
Options Outstanding | shares | 30,750 |
Weighted Average Exercise Price | $ 25 |
Weighted Avg. Remaining Contractual Life in Years | 3 years 4 months 13 days |
2014 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 49,550 |
Exercise Price Range Per Share Minimum | $ 28.79 |
Options Outstanding | shares | 49,550 |
Weighted Average Exercise Price | $ 28.79 |
Weighted Avg. Remaining Contractual Life in Years | 4 years 4 months 21 days |
2015 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 78,638 |
Exercise Price Range Per Share Minimum | $ 31.58 |
Options Outstanding | shares | 78,638 |
Weighted Average Exercise Price | $ 31.58 |
Weighted Avg. Remaining Contractual Life in Years | 5 years 5 months 1 day |
2016 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercisable at Year End | shares | 47,850 |
Exercise Price Range Per Share Minimum | $ 32.37 |
Options Outstanding | shares | 95,700 |
Weighted Average Exercise Price | $ 32.37 |
Weighted Avg. Remaining Contractual Life in Years | 6 years 4 months 24 days |
Employee Benefit Plans - Schedu
Employee Benefit Plans - Schedule of Activity for the Restricted Stock Component of the Plan (Detail) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Restricted Stock Beginning Balance | shares | 143,456 |
Restricted Stock, Granted | shares | 76,400 |
Restricted Stock, Vested | shares | (52,485) |
Restricted Stock, Forfeited | shares | (1,725) |
Restricted Stock, Dividend reinvestment | shares | 4,836 |
Restricted Stock Ending Balance | shares | 170,482 |
Weighted Average Grant Date Fair Value Per Share Beginning Balance | $ / shares | $ 28.92 |
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares | 32.45 |
Weighted Average Grant Date Fair Value Per Share, Vested | $ / shares | 26.35 |
Weighted Average Grant Date Fair Value Per Share, Forfeited | $ / shares | 30.92 |
Weighted Average Grant Date Fair Value Per Share, Dividend reinvestment | $ / shares | 33.43 |
Weighted Average Grant Date Fair Value Per Share Ending Balance | $ / shares | $ 31.40 |
Other Operating Expenses - Sche
Other Operating Expenses - Schedule of Other Operating Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Costs and Expenses [Abstract] | |||
Franchise and other miscellaneous taxes | $ 6,825 | $ 5,924 | $ 6,748 |
Consulting, regulatory and advisory fees | 6,270 | 4,959 | 4,405 |
ATM and electronic banking interchange expenses | 4,297 | 4,463 | 4,222 |
Postage and courier expenses | 3,306 | 3,720 | 3,373 |
Supplies | 2,919 | 2,841 | 2,425 |
Legal fees | 2,406 | 2,418 | 2,531 |
Communications | 1,800 | 1,537 | 1,555 |
Other real estate owned and foreclosure expenses | 1,210 | 546 | 1,101 |
Other | 11,967 | 12,479 | 10,836 |
Total other operating expenses | $ 41,000 | $ 38,887 | $ 37,196 |
Income Taxes - Reconciliation f
Income Taxes - Reconciliation from Federal Statutory Income Tax Rate to Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Net tax-exempt interest income on securities of state and political subdivisions | (7.00%) | (6.80%) | (6.40%) |
State income taxes, net of federal tax effect | 1.40% | 1.60% | 1.40% |
Bank-owned life insurance | (1.20%) | (1.60%) | (1.70%) |
General business credits | (2.10%) | (2.10%) | (3.10%) |
All other - net | 0.30% | (0.10%) | 0.10% |
Effective tax rate | 26.40% | 26.00% | 25.30% |
Income Taxes - Provision for In
Income Taxes - Provision for Income Taxes Applicable to Income Before Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | |||||||||||
Federal | $ 18,053 | $ 15,661 | $ 13,346 | ||||||||
State | 2,159 | 2,089 | 1,684 | ||||||||
Deferred: | |||||||||||
Federal | 10,519 | 10,047 | 8,337 | ||||||||
State | 305 | 618 | 353 | ||||||||
Total | $ 8,464 | $ 5,793 | $ 8,085 | $ 8,694 | $ 8,165 | $ 7,768 | $ 7,962 | $ 4,528 | $ 31,036 | $ 28,415 | $ 23,720 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Amounts were Recorded in Shareholder's Equity as Elements of Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Securities and defined benefit pension plan unrecognized items | $ (3,480) | $ (1,202) | $ (3,538) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | |||
Allowance for loan losses | $ 16,198 | $ 15,246 | $ 16,386 |
Compensation and benefits | 5,444 | 6,114 | 8,764 |
Security gains and losses | 2,854 | 2,964 | 2,817 |
Purchase accounting adjustments | 1,275 | 1,497 | |
Partnership adjustments | 1,921 | 1,158 | |
Non-accrual interest income | 2,392 | 2,254 | 2,129 |
Tax credit carryforwards | 12,744 | 13,580 | 10,163 |
Federal net operating loss carryforwards | 12,020 | 597 | |
Fair value adjustments on securities available-for-sale | 5,394 | 1,979 | |
Other | 5,194 | 2,264 | 2,169 |
Gross deferred tax assets | 62,240 | 47,597 | 45,680 |
Deferred tax liabilities: | |||
Depreciation and amortization | (3,448) | (1,530) | (1,900) |
Accretion on securities | (421) | (2) | (295) |
Fair value adjustments on securities available-for-sale | (2,297) | ||
Purchase accounting adjustments | (149) | ||
Partnership adjustments | (1,128) | ||
Other | (2,519) | (1,511) | (1,728) |
Gross deferred tax liabilities | (7,665) | (3,043) | (6,220) |
Net deferred tax assets | $ 54,575 | $ 44,554 | $ 39,460 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Line Items] | ||||
Valuation allowance of deferred tax assets | $ 100,000 | |||
General business credit carryforwards | 3,000,000 | |||
Alternative minimum tax credits | 9,800,000 | |||
Deferred tax assets net operating loss carryforwards | 12,020,000 | $ 597,000 | ||
Qualifying and non-qualifying tax bad debt reserves | 45,900,000 | $ 32,900,000 | ||
Provision for income taxes | 0 | |||
Related amount of unrecognized deferred tax liability | 17,100,000 | 12,000,000 | ||
Federal and state income taxes applicable to securities transactions | 900,000 | 300,000 | 300,000 | |
Unrecognized tax benefits and interest | 436,000 | 326,000 | $ 701,000 | $ 673,000 |
Unrecognized tax benefits that would affect the effective tax rate | 400,000 | |||
Accrued interest related to uncertain tax positions | 22,000 | $ 15,000 | ||
Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Federal deferred tax assets net operating loss carryforwards | 31,000,000 | |||
Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Deferred tax assets net operating loss carryforwards | $ 27,900,000 | |||
Earliest Tax Year [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credit carryforward expiration year | 2,031 | |||
Earliest year for tax examination | 2,013 | |||
Earliest Tax Year [Member] | Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,030 | |||
Earliest Tax Year [Member] | Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,027 | |||
Latest Tax Year [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax credit carryforward expiration year | 2,033 | |||
Latest Tax Year [Member] | Your Community Bankshares, Inc [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,036 | |||
Latest Tax Year [Member] | Indiana [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Net operating loss carryforwards expiration date | 2,035 |
Income Taxes - Schedule of Unre
Income Taxes - Schedule of Unrecognized Tax Benefits (Excluding Interest and Federal Income Tax Benefit of Unrecognized State Tax Benefits) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of year | $ 326 | $ 701 | $ 673 |
Additions based on tax positions related to the current year | 110 | 104 | 155 |
Reductions for tax positions of prior years | (100) | ||
Reductions due to the statute of limitations | (379) | (127) | |
Settlements | 0 | 0 | 0 |
Balance at end of year | $ 436 | $ 326 | $ 701 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investments Measured At Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 1,438 | $ 1,225 |
Total assets recurring fair value measurements | 1,438 | 1,225 |
Investments Measured At Net Asset Value [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 1,438 | 1,225 |
Trading securities | 7,071 | 6,451 |
Total securities - available-for-sale | 1,241,176 | 1,403,069 |
Other assets - interest rate derivatives agreements | 5,596 | 1,893 |
Total assets recurring fair value measurements | 1,253,843 | 1,411,413 |
Other liabilities - interest rate derivatives agreements | 5,199 | 1,991 |
Total liabilities recurring fair value measurements | 5,199 | 1,991 |
Other real estate owned and repossessed assets | 8,346 | 5,825 |
Loans held for sale | 17,315 | 7,899 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 7,071 | 6,451 |
Total securities - available-for-sale | 1,241,176 | 1,403,069 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,405 | 6,363 |
Other real estate owned and repossessed assets | 8,346 | 5,825 |
Loans held for sale | 17,315 | 7,899 |
Total nonrecurring fair value measurements | 29,066 | 20,087 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 54,043 | 83,505 |
U.S. Government Sponsored Entities and 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 | 54,043 | 83,505 |
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 | 1,035,099 | 1,176,080 |
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 | 1,035,099 | 1,176,080 |
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 | 111,663 | 80,265 |
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 | 111,663 | 80,265 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 35,301 | 58,593 |
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 | 35,301 | 58,593 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 5,070 | 4,626 |
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 | 5,070 | 4,626 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 5,633 | 5,226 |
Total securities - available-for-sale | 2,938 | 2,735 |
Total assets recurring fair value measurements | 8,571 | 7,961 |
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] | ||
Trading securities | 5,633 | 5,226 |
Total securities - available-for-sale | 2,938 | 2,735 |
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 | 2,938 | 2,735 |
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 | 1,238,238 | 1,400,334 |
Other assets - interest rate derivatives agreements | 5,596 | 1,893 |
Total assets recurring fair value measurements | 1,243,834 | 1,402,227 |
Other liabilities - interest rate derivatives agreements | 5,199 | 1,991 |
Total liabilities recurring fair value measurements | 5,199 | 1,991 |
Loans held for sale | 17,315 | 7,899 |
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 | 1,238,238 | 1,400,334 |
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] | ||
Loans held for sale | 17,315 | 7,899 |
Total nonrecurring fair value measurements | 17,315 | 7,899 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Sponsored Entities and 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 | 54,043 | 83,505 |
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 | 1,035,099 | 1,176,080 |
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 | 111,663 | 80,265 |
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 | 35,301 | 58,593 |
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 | 2,132 | 1,891 |
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 | 3,405 | 6,363 |
Other real estate owned and repossessed assets | 8,346 | 5,825 |
Total nonrecurring fair value measurements | $ 11,751 | $ 12,188 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | ||
Fair value transfer amount | $ 0 | $ 0 |
Fair Value Measurement - Sch121
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 8,346 | $ 5,825 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 3,405 | 6,363 |
Other real estate owned and repossessed assets | 8,346 | 5,825 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 3,405 | 6,363 |
Other real estate owned and repossessed assets | $ 8,346 | $ 5,825 |
Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | 0.00% | 0.00% |
Impaired loans, Liquidation expenses | (1.50%) | (3.00%) |
Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (70.00%) | (40.60%) |
Impaired loans, Liquidation expenses | (8.00%) | (8.00%) |
Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (36.60%) | (25.10%) |
Impaired loans, Liquidation expenses | (4.60%) | (6.70%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Carrying Amount [Member] | ||||
Financial Assets | ||||
Cash and due from banks | $ 128,170 | $ 86,685 | ||
Trading securities | 7,071 | 6,451 | ||
Securities available-for-sale | 1,241,176 | 1,403,069 | ||
Securities held-to-maturity | 1,067,967 | 1,012,930 | ||
Net loans | 6,205,762 | 5,024,132 | ||
Loans held for sale | 17,315 | 7,899 | ||
Other assets - interest rate derivatives | 5,596 | 1,893 | ||
Accrued interest receivable | 28,299 | 25,759 | ||
Financial Liabilities | ||||
Deposits | 7,040,879 | 6,066,299 | ||
Federal Home Loan Bank borrowings | 968,946 | 1,041,750 | ||
Other borrowings | 199,376 | 81,356 | ||
Subordinated debt and junior subordinated debt | 163,598 | |||
Subordinated debt and junior subordinated debt owed to unconsolidated subsidiary trust | 106,196 | |||
Other liabilities - interest rate derivatives | 5,199 | 1,991 | ||
Accrued interest payable | 2,204 | 1,715 | ||
Fair Value Estimate [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 128,170 | 86,685 | ||
Trading securities | 7,071 | 6,451 | ||
Securities available-for-sale | 1,241,176 | 1,403,069 | ||
Securities held-to-maturity | 1,076,790 | 1,038,207 | ||
Net loans | 6,073,558 | 4,936,236 | ||
Loans held for sale | 17,315 | 7,899 | ||
Other assets - interest rate derivatives | 5,596 | 1,893 | ||
Accrued interest receivable | 28,299 | 25,759 | ||
Financial Liabilities | ||||
Deposits | 7,052,501 | 6,075,433 | ||
Federal Home Loan Bank borrowings | 974,430 | 1,041,752 | ||
Other borrowings | 199,385 | 81,361 | ||
Subordinated debt and junior subordinated debt | 134,859 | |||
Subordinated debt and junior subordinated debt owed to unconsolidated subsidiary trust | 79,681 | |||
Other liabilities - interest rate derivatives | 5,199 | 1,991 | ||
Accrued interest payable | 2,204 | 1,715 | ||
Investments Measured At Net Asset Value [Member] | ||||
Financial Assets | ||||
Trading securities | 1,438 | 1,225 | ||
Cash and due from banks | 128,170 | 86,685 | $ 94,002 | $ 95,551 |
Trading securities | 7,071 | 6,451 | ||
Securities available-for-sale | 1,241,176 | 1,403,069 | ||
Securities held-to-maturity | 1,067,967 | 1,012,930 | ||
Net loans | 6,205,762 | 5,024,132 | ||
Loans held for sale | 17,315 | 7,899 | ||
Other assets - interest rate derivatives | 5,596 | 1,893 | ||
Accrued interest receivable | 28,299 | 25,759 | ||
Financial Liabilities | ||||
Deposits | 7,040,879 | 6,066,299 | ||
Federal Home Loan Bank borrowings | 968,946 | 1,041,750 | ||
Other borrowings | 199,376 | 81,356 | ||
Subordinated debt and junior subordinated debt | 163,598 | 106,196 | ||
Subordinated debt and junior subordinated debt owed to unconsolidated subsidiary trust | 137,559 | |||
Other liabilities - interest rate derivatives | 5,199 | 1,991 | ||
Accrued interest payable | 2,204 | 1,715 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 128,170 | 86,685 | ||
Trading securities | 5,633 | 5,226 | ||
Securities available-for-sale | 2,938 | 2,735 | ||
Accrued interest receivable | 28,299 | 25,759 | ||
Financial Liabilities | ||||
Deposits | 5,545,057 | 4,508,461 | ||
Other borrowings | 197,164 | 78,682 | ||
Accrued interest payable | 2,204 | 1,715 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Financial Assets | ||||
Securities available-for-sale | 1,238,238 | 1,400,334 | ||
Securities held-to-maturity | 1,076,189 | 1,037,490 | ||
Loans held for sale | 17,315 | 7,899 | ||
Other assets - interest rate derivatives | 5,596 | 1,893 | ||
Financial Liabilities | ||||
Deposits | 1,507,444 | 1,566,972 | ||
Federal Home Loan Bank borrowings | 974,430 | 1,041,752 | ||
Other borrowings | 2,221 | 2,679 | ||
Subordinated debt and junior subordinated debt | 134,859 | |||
Subordinated debt and junior subordinated debt owed to unconsolidated subsidiary trust | 79,681 | |||
Other liabilities - interest rate derivatives | 5,199 | 1,991 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial Assets | ||||
Securities held-to-maturity | 601 | 717 | ||
Net loans | $ 6,073,558 | $ 4,936,236 |
Comprehensive Income_(Loss) - C
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ 1,122,132 | $ 788,190 | $ 746,595 |
Total other comprehensive loss | (6,172) | (2,129) | (6,091) |
Ending Balance | 1,341,408 | 1,122,132 | 788,190 |
Accumulated Defined Benefit Plans Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (17,539) | (22,776) | (7,966) |
Other comprehensive (loss)/income before reclassifications | (2,112) | 3,233 | (15,768) |
Amounts reclassified from accumulated other comprehensive income/(loss) | 1,893 | 2,004 | 958 |
Total other comprehensive loss | (219) | 5,237 | (14,810) |
Ending Balance | (17,758) | (17,539) | (22,776) |
Accumulated Unrealized Gains (Losses) on Securities Available For Sale [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (4,162) | 2,892 | (6,126) |
Other comprehensive (loss)/income before reclassifications | (4,300) | (6,677) | 9,638 |
Amounts reclassified from accumulated other comprehensive income/(loss) | (1,428) | (377) | (620) |
Total other comprehensive loss | (5,728) | (7,054) | 9,018 |
Ending Balance | (9,890) | (4,162) | 2,892 |
Accumulated Unrealized Gains on Securities Transferred from Available For Sale to Held to Maturity [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 747 | 1,059 | 1,358 |
Amounts reclassified from accumulated other comprehensive income/(loss) | (225) | (312) | (299) |
Total other comprehensive loss | (225) | (312) | (299) |
Ending Balance | 522 | 747 | 1,059 |
Accumulated Other Comprehensive Loss [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (20,954) | (18,825) | (12,734) |
Other comprehensive (loss)/income before reclassifications | (6,412) | (3,444) | (6,130) |
Amounts reclassified from accumulated other comprehensive income/(loss) | 240 | 1,315 | 39 |
Total other comprehensive loss | (6,172) | (2,129) | (6,091) |
Ending Balance | $ (27,126) | $ (20,954) | $ (18,825) |
Comprehensive Income_(Loss) 124
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income/(Loss) (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Percentage of Federal and State income tax rate | 37.00% | 37.00% | 37.00% |
Comprehensive Income_(Loss) - S
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net securities gains reclassified into earnings | $ 2,251 | $ 596 | $ 981 |
Related income tax expense | (823) | (219) | (361) |
Net effect on accumulated other comprehensive income/(loss) for the period | 5,728 | 7,054 | (9,018) |
Amortization of unrealized gain transferred from available-for-sale | 357 | 494 | 472 |
Related income tax expense | (132) | (182) | (173) |
Net effect on accumulated other comprehensive income/(loss) for the period | 225 | 312 | 299 |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | (3,046) | (3,205) | (1,516) |
Related income tax benefit | 1,153 | 1,201 | 558 |
Net effect on accumulated other comprehensive income/(loss) for the period | 219 | (5,237) | 14,810 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net securities gains reclassified into earnings | (2,251) | (596) | (981) |
Related income tax expense | 823 | 219 | 361 |
Net effect on accumulated other comprehensive income/(loss) for the period | (1,428) | (377) | (620) |
Amortization of unrealized gain transferred from available-for-sale | (357) | (494) | (472) |
Related income tax expense | 132 | 182 | 173 |
Net effect on accumulated other comprehensive income/(loss) for the period | (225) | (312) | (299) |
Defined benefit pension plan: | |||
Amortization of net loss and prior service costs | 3,046 | 3,205 | 1,516 |
Related income tax benefit | (1,153) | (1,201) | (558) |
Net effect on accumulated other comprehensive income/(loss) for the period | 1,893 | 2,004 | 958 |
Total reclassifications for the period | $ 240 | $ 1,315 | $ 39 |
Commitments and Contingent L126
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Allowance for credit losses associated with loan commitments | $ 571 | $ 613 | $ 455 | $ 602 |
Liability associated with letters of credit | $ 200 | $ 200 |
Commitments and Contingent L127
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 1,418,329 | $ 1,159,769 |
Loans approved but not closed | 185,254 | 234,599 |
Overdraft limits | 126,517 | 106,252 |
Letters of credit | 32,907 | 27,408 |
Contingent obligations to purchase loans funded by other entities | $ 13,036 | $ 18,079 |
Wesbanco Bank Community Deve128
Wesbanco Bank Community Development Corporation - Additional Information (Detail) - WBCDC [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |||
New Markets Tax Credits | $ 60,000,000 | ||
Lower limit of poverty rate tracts | 20.00% | ||
Percentage income of median family | 80.00% | ||
Percentage of credit provided to the investor | 39.00% | ||
Period of credit allowance | 7 years | ||
Percentage of total amount investor receives as credit | 5.00% | ||
Percentage of total amount investor receives as credit for the remaining four years | 6.00% | ||
Amount received as tax credit | $ 21,500,000 | ||
Investment limit for credit allowance | 60,000,000 | ||
Amount eligible to receive as tax credit | 1,900,000 | ||
Provision for income tax | 1,800,000 | $ 1,900,000 | $ 2,300,000 |
Tax credit carry forward | $ 1,200,000 | ||
Minimum percentage of QEI proceeds utilized | 85.00% |
Wesbanco Bank Community Deve129
Wesbanco Bank Community Development Corporation - Summary of New Market Tax Credit Carry Forward (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | $ 16,000 |
New Markets Tax Credit for year 2017 | 960 |
New Markets Tax Credit for year 2018 | 660 |
New Markets Tax Credit for year 2019 | 300 |
2011 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 5,000 |
New Markets Tax Credit for year 2017 | 300 |
2012 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 6,000 |
New Markets Tax Credit for year 2017 | 360 |
New Markets Tax Credit for year 2018 | 360 |
2013 [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Aggregate QEI Amount | 5,000 |
New Markets Tax Credit for year 2017 | 300 |
New Markets Tax Credit for year 2018 | 300 |
New Markets Tax Credit for year 2019 | $ 300 |
Wesbanco Bank Community Deve130
Wesbanco Bank Community Development Corporation - Summary of New Market Tax Credit Carry Forward (Parenthetical) (Detail) $ in Millions | Dec. 31, 2016USD ($) |
WBCDC [Member] | |
Schedule Of Subsidiary Financial Statements Table [Line Items] | |
Qualified equity investment amount for which tax credit expired | $ 44 |
Wesbanco Bank Community Deve131
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
ASSETS | ||||
Cash and due from banks | $ 128,170 | $ 86,685 | $ 94,002 | $ 95,551 |
Loans, net of allowance for loan losses of $249 | 6,205,762 | 5,024,132 | ||
Other assets | 180,488 | 149,302 | ||
Total Assets | 9,790,877 | 8,470,298 | ||
Liabilities | 8,449,469 | 7,348,166 | ||
Shareholder Equity | 1,341,408 | 1,122,132 | $ 788,190 | $ 746,595 |
Total Liabilities and Shareholder Equity | 9,790,877 | 8,470,298 | ||
WBCDC [Member] | ||||
ASSETS | ||||
Cash and due from banks | 31,303 | $ 26,317 | ||
Loans, net of allowance for loan losses of $249 | 39,589 | |||
Investments | 968 | |||
Other assets | 286 | |||
Total Assets | 72,146 | |||
Liabilities | 274 | |||
Shareholder Equity | 71,872 | |||
Total Liabilities and Shareholder Equity | $ 72,146 |
Wesbanco Bank Community Deve132
Wesbanco Bank Community Development Corporation - Schedule of Condensed Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 43,674 | $ 41,710 | $ 44,654 | $ 47,368 |
WBCDC [Member] | ||||
Schedule Of Subsidiary Financial Statements Table [Line Items] | ||||
Allowance for loan losses | $ 249 |
Wesbanco Bank Community Deve133
Wesbanco Bank Community Development Corporation - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | |||||||||||
Loans | $ 226,993 | $ 203,993 | $ 172,182 | ||||||||
Total interest income | $ 80,819 | $ 70,092 | $ 67,585 | $ 67,601 | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | 286,097 | 261,712 | 215,991 |
Provision for loan losses | 8,520 | 8,195 | 6,552 | ||||||||
Net interest income after provision for credit losses | 69,560 | 59,812 | 57,963 | 57,518 | 58,035 | 58,811 | 58,112 | 53,666 | 244,852 | 228,634 | 186,823 |
Loss on investments | 63 | 598 | 585 | 1,111 | 880 | 47 | 22 | 2,357 | 948 | 903 | |
Non-interest expense | 58,298 | 57,601 | 47,360 | 45,343 | 46,894 | 46,981 | 46,589 | 53,441 | 208,680 | 193,923 | 161,633 |
Income before provision for income taxes | 32,682 | 23,228 | 30,194 | 31,568 | 31,167 | 30,016 | 29,595 | 18,415 | 117,671 | 109,177 | 93,694 |
Provision for income taxes | 8,464 | 5,793 | 8,085 | 8,694 | 8,165 | 7,768 | 7,962 | 4,528 | 31,036 | 28,415 | 23,720 |
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | 86,635 | $ 80,762 | $ 69,974 |
WBCDC [Member] | |||||||||||
Interest income | |||||||||||
Loans | 1,383 | ||||||||||
Total interest income | 1,383 | ||||||||||
Provision for loan losses | 32 | ||||||||||
Net interest income after provision for credit losses | 1,351 | ||||||||||
Loss on investments | (94) | ||||||||||
Non-interest expense | 79 | ||||||||||
Income before provision for income taxes | 1,178 | ||||||||||
Provision for income taxes | 436 | ||||||||||
Net income | $ 742 |
Wesbanco Bank Community Deve134
Wesbanco Bank Community Development Corporation - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 86,635 | $ 80,762 | $ 69,974 |
Provision for loan losses | 8,520 | 8,195 | 6,552 | ||||||||
Loss on investments | (63) | $ (598) | $ (585) | (1,111) | (880) | $ (47) | (22) | (2,357) | (948) | (903) | |
Decrease in other assets | 13,137 | (4,293) | 10,205 | ||||||||
Net change in other liabilities | 7,404 | (7,988) | (1,896) | ||||||||
Net cash provided by operating activities | 123,697 | 88,649 | 94,808 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Decrease in loans | (174,952) | (293,306) | (199,760) | ||||||||
Net cash provided by investing activities | 193,968 | (210,591) | (173,006) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Net cash provided by financing activities | (276,180) | 114,625 | 76,649 | ||||||||
Net increase in cash and cash equivalents | 41,485 | (7,317) | (1,549) | ||||||||
Cash and cash equivalents at beginning of the year | 86,685 | $ 94,002 | 86,685 | 94,002 | 95,551 | ||||||
Cash and cash equivalents at end of the year | 128,170 | 86,685 | 128,170 | 86,685 | $ 94,002 | ||||||
WBCDC [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 742 | ||||||||||
Provision for loan losses | 32 | ||||||||||
Loss on investments | 94 | ||||||||||
Decrease in other assets | 757 | ||||||||||
Net change in other liabilities | 24 | ||||||||||
Net cash provided by operating activities | 1,649 | ||||||||||
INVESTING ACTIVITIES | |||||||||||
Decrease in loans | 3,337 | ||||||||||
Net cash provided by investing activities | 3,337 | ||||||||||
FINANCING ACTIVITIES | |||||||||||
Qualified equity investment by parent company | 0 | ||||||||||
Net cash provided by financing activities | 0 | ||||||||||
Net increase in cash and cash equivalents | 4,986 | ||||||||||
Cash and cash equivalents at beginning of the year | $ 26,317 | 26,317 | |||||||||
Cash and cash equivalents at end of the year | $ 31,303 | $ 26,317 | $ 31,303 | $ 26,317 |
Transactions with Related Pa135
Transactions with Related Parties - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |||
Aggregate indebtedness of related parties | $ 18,700,000 | $ 9,600,000 | $ 4,400,000 |
Related party loans funded | 17,500,000 | ||
Related party loans repaid | $ 8,400,000 | ||
Due date for related party loans | 90 days | ||
Delinquent related party loans outstanding | $ 0 | $ 0 | $ 0 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Potential maximum dividends without prior regulatory approval | $ 42,200 | |
Average required reserve balance in Federal Reserve Bank | $ 2,000 | $ 5,000 |
Percentage of Risk-weighted assets in bank holding companies in total capital | 8.00% | |
Common equity tier 1, minimum value | 4.50% | |
Common equity tier 1, well capitalized | 6.50% | |
Percentage of Risk-weighted assets in banking subsidiaries | 6.00% | |
Percentage of well-capitalized levels of Tier 1 risk-based capital | 8.00% | |
Percentage of well-capitalized levels of total risk-based capital | 10.00% | |
Percentage of well-capitalized levels of Tier 1 leverage capital | 5.00% | |
Junior subordinated debt | $ 137,559 | |
Provision of the Dodd-Frank | 15,000,000 | |
Trust Preferred Securities | $ 133,286 | |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Minimum Tier 1 leverage ratio | 4.00% | |
WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of Risk-weighted assets in bank holding companies in total capital | 8.00% | |
Common equity tier 1, minimum value | 4.50% | |
Common equity tier 1, well capitalized | 6.50% | |
Percentage of Risk-weighted assets in banking subsidiaries | 6.00% | |
Percentage of well-capitalized levels of Tier 1 risk-based capital | 8.00% | |
Percentage of well-capitalized levels of total risk-based capital | 10.00% | |
Percentage of well-capitalized levels of Tier 1 leverage capital | 5.00% | |
Junior Subordinated Debt [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Junior subordinated debt | $ 137,600 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Risk-Based Capital Amounts and Ratios (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% | |
Common equity tier 1, minimum value | 4.50% | |
Tier 1 capital to risk-weighted assets, minimum value | 6.00% | |
Total capital to risk-weighted assets, minimum value | 8.00% | |
Tier 1 leverage, well capitalized | 5.00% | |
Common equity tier 1, well capitalized | 6.50% | |
Tier 1 capital to risk-weighted assets, well capitalized | 8.00% | |
Total capital to risk-weighted assets, well capitalized | 10.00% | |
Tier 1 leverage, amount | $ 901,873,000 | $ 751,748,000 |
Common equity tier 1, amount | 773,306,000 | 656,911,000 |
Tier 1 capital to risk-weighted assets, amount | 901,873,000 | 751,748,000 |
Total capital to risk-weighted assets, amount | $ 971,762,000 | $ 794,643,000 |
Tier 1 leverage, ratio | 9.81% | 9.38% |
Common equity tier 1, ratio | 11.28% | 11.66% |
Tier 1 capital to risk-weighted assets, ratio | 13.16% | 13.35% |
Total capital to risk-weighted assets, ratio | 14.18% | 14.11% |
WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Percentage of risk-weighted assets in bank holding companies in Tier 1 | 4.00% | |
Common equity tier 1, minimum value | 4.50% | |
Tier 1 capital to risk-weighted assets, minimum value | 6.00% | |
Total capital to risk-weighted assets, minimum value | 8.00% | |
Tier 1 leverage, well capitalized | 5.00% | |
Common equity tier 1, well capitalized | 6.50% | |
Tier 1 capital to risk-weighted assets, well capitalized | 8.00% | |
Total capital to risk-weighted assets, well capitalized | 10.00% | |
Tier 1 leverage, amount | $ 827,173,000 | $ 701,384,000 |
Common equity tier 1, amount | 827,173,000 | 701,384,000 |
Tier 1 capital to risk-weighted assets, amount | 827,173,000 | 701,384,000 |
Total capital to risk-weighted assets, amount | $ 896,598,000 | $ 743,923,000 |
Tier 1 leverage, ratio | 9.02% | 8.77% |
Common equity tier 1, ratio | 12.10% | 12.49% |
Tier 1 capital to risk-weighted assets, ratio | 12.10% | 12.49% |
Total capital to risk-weighted assets, ratio | 13.11% | 13.24% |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | $ 367,843,000 | $ 320,575,000 |
Common equity tier 1, amount | 308,462,000 | 253,418,000 |
Tier 1 capital to risk-weighted assets, amount | 411,283,000 | 337,891,000 |
Total capital to risk-weighted assets, amount | 548,378,000 | 450,521,000 |
Minimum [Member] | WesBanco Bank Inc [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage, amount | 366,903,000 | 320,020,000 |
Common equity tier 1, amount | 307,728,000 | 252,793,000 |
Tier 1 capital to risk-weighted assets, amount | 410,305,000 | 337,057,000 |
Total capital to risk-weighted assets, amount | $ 547,073,000 | $ 449,409,000 |
Condensed Parent Company Fin138
Condensed Parent Company Financial Statements - Schedule of Condensed Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
ASSETS | ||||
Cash and short-term investments | $ 128,170 | $ 86,685 | $ 94,002 | $ 95,551 |
Securities available-for-sale, at fair value | 1,241,176 | 1,403,069 | ||
Other assets | 180,488 | 149,302 | ||
Total Assets | 9,790,877 | 8,470,298 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 137,559 | |||
Total Liabilities | 8,449,469 | 7,348,166 | ||
SHAREHOLDERS' EQUITY | 1,341,408 | 1,122,132 | 788,190 | 746,595 |
Total Liabilities and Shareholders' Equity | 9,790,877 | 8,470,298 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and short-term investments | 47,035 | 33,172 | $ 61,732 | $ 22,973 |
Investment in subsidiaries - Bank | 1,404,565 | 1,175,005 | ||
Investment in subsidiaries - Nonbank | 8,228 | 5,604 | ||
Securities available-for-sale, at fair value | 2,133 | 1,891 | ||
Other assets | 28,602 | 21,817 | ||
Total Assets | 1,490,563 | 1,237,489 | ||
LIABILITIES | ||||
Junior subordinated debt owed to unconsolidated subsidiary trusts | 137,559 | 106,196 | ||
Dividends payable and other liabilities | 11,596 | 9,161 | ||
Total Liabilities | 149,155 | 115,357 | ||
SHAREHOLDERS' EQUITY | 1,341,408 | 1,122,132 | ||
Total Liabilities and Shareholders' Equity | $ 1,490,563 | $ 1,237,489 |
Condensed Parent Company Fin139
Condensed Parent Company Financial Statements - Schedule of Condensed Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Income from securities | $ 80,819 | $ 70,092 | $ 67,585 | $ 67,601 | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 286,097 | $ 261,712 | $ 215,991 |
Net securities gain | 2,357 | 948 | 903 | ||||||||
Other income | 9,751 | 5,532 | 5,555 | ||||||||
Interest expense | 9,131 | 8,066 | 7,811 | 7,759 | 7,040 | 6,326 | 5,936 | 5,424 | 32,767 | 24,725 | 22,763 |
Other expense | 41,000 | 38,887 | 37,196 | ||||||||
Total non-interest expense | 58,298 | 57,601 | 47,360 | 45,343 | 46,894 | 46,981 | 46,589 | 53,441 | 208,680 | 193,923 | 161,633 |
Income tax benefit | 8,464 | 5,793 | 8,085 | 8,694 | 8,165 | 7,768 | 7,962 | 4,528 | 31,036 | 28,415 | 23,720 |
NET INCOME | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | 86,635 | 80,762 | 69,974 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Dividends from subsidiaries - Bank | 85,000 | 60,000 | 59,500 | ||||||||
Dividends from subsidiaries - Nonbank | 800 | 500 | 1,200 | ||||||||
Income from securities | 75 | 75 | 128 | ||||||||
Net securities gain | 745 | ||||||||||
Other income | 147 | 104 | 416 | ||||||||
Total income | 86,022 | 60,679 | 61,989 | ||||||||
Interest expense | 4,136 | 3,315 | 3,199 | ||||||||
Other expense | 5,628 | 5,547 | 3,940 | ||||||||
Total non-interest expense | 9,764 | 8,862 | 7,139 | ||||||||
Income before income tax benefit and undistributed net income of subsidiaries | 76,258 | 51,817 | 54,850 | ||||||||
Income tax benefit | (3,149) | (2,971) | (2,006) | ||||||||
Income before undistributed net income of subsidiaries | 79,407 | 54,788 | 56,856 | ||||||||
Equity in undistributed net income of subsidiaries | 7,228 | 25,974 | 13,118 | ||||||||
NET INCOME | $ 86,635 | $ 80,762 | $ 69,974 |
Condensed Parent Company Fin140
Condensed Parent Company Financial Statements - Schedule of Condensed Cash Flow Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES | |||||||||||
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 86,635 | $ 80,762 | $ 69,974 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | (900) | (600) | (900) | ||||||||
Gain on securities | (2,357) | (948) | (903) | ||||||||
Decrease in other assets | 13,137 | (4,293) | 10,205 | ||||||||
Other - net | 1,448 | 1,914 | 5,328 | ||||||||
Net cash provided by operating activities | 123,697 | 88,649 | 94,808 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Proceed from sales - securities available-for-sale | 277,225 | 635,609 | 16,249 | ||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash (paid) acquired | 4,863 | (28,551) | |||||||||
Net cash provided (used in) by investing activities | 193,968 | (210,591) | (173,006) | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (36,083) | ||||||||||
Issuance of common stock | 1,713 | ||||||||||
Repurchase of common stock warrant | (2,247) | ||||||||||
Treasury shares (purchased) sold - net | (3,026) | (2,542) | 1,918 | ||||||||
Net cash (used in) provided by financing activities | (276,180) | 114,625 | 76,649 | ||||||||
Net increase (decrease) in cash and cash equivalents | 41,485 | (7,317) | (1,549) | ||||||||
Cash and cash equivalents at beginning of the year | 86,685 | 94,002 | 86,685 | 94,002 | 95,551 | ||||||
Cash and cash equivalents at end of the year | 128,170 | 86,685 | 128,170 | 86,685 | 94,002 | ||||||
Parent Company [Member] | |||||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | 86,635 | 80,762 | 69,974 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income | (7,228) | (25,974) | (13,118) | ||||||||
Gain on securities | (745) | ||||||||||
Decrease in other assets | 14,679 | 199 | 1,908 | ||||||||
Other - net | 2,094 | 1,657 | 1,968 | ||||||||
Net cash provided by operating activities | 96,180 | 56,644 | 59,987 | ||||||||
INVESTING ACTIVITIES | |||||||||||
Proceed from sales - securities available-for-sale | 210 | 1,990 | |||||||||
Acquisitions and additional capitalization of subsidiaries, net of cash (paid) acquired | (43,199) | 1,465 | |||||||||
Net cash provided (used in) by investing activities | (43,199) | 1,675 | 1,990 | ||||||||
FINANCING ACTIVITIES | |||||||||||
Repayment of junior subordinated debt | (36,083) | ||||||||||
Repayment of other borrowings | (13,000) | ||||||||||
Issuance of common stock | 1,713 | ||||||||||
Repurchase of common stock warrant | (2,247) | ||||||||||
Treasury shares (purchased) sold - net | (3,026) | (2,542) | 1,918 | ||||||||
Dividends paid to common and preferred shareholders | (37,805) | (33,007) | (25,136) | ||||||||
Net cash (used in) provided by financing activities | (39,118) | (86,879) | (23,218) | ||||||||
Net increase (decrease) in cash and cash equivalents | 13,863 | (28,560) | 38,759 | ||||||||
Cash and cash equivalents at beginning of the year | $ 33,172 | $ 61,732 | 33,172 | 61,732 | 22,973 | ||||||
Cash and cash equivalents at end of the year | $ 47,035 | $ 33,172 | $ 47,035 | $ 33,172 | $ 61,732 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)Segment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting Information [Line Items] | |||
Operating segments | Segment | 2 | ||
Trust and Investment Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Market value of assets held by trust and investment services segment | $ 3,700 | $ 3,600 | $ 3,800 |
Total non-fiduciary assets of the trust and investment services segment | $ 4.3 | $ 3.3 | $ 4 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | $ 80,819 | $ 70,092 | $ 67,585 | $ 67,601 | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 286,097 | $ 261,712 | $ 215,991 |
Interest expense | 9,131 | 8,066 | 7,811 | 7,759 | 7,040 | 6,326 | 5,936 | 5,424 | 32,767 | 24,725 | 22,763 |
Net interest income | 71,688 | 62,026 | 59,774 | 59,842 | 60,620 | 60,609 | 60,793 | 54,955 | 253,330 | 236,987 | 193,228 |
Provision for credit losses | 2,128 | 2,214 | 1,811 | 2,324 | 2,585 | 1,798 | 2,681 | 1,289 | 8,478 | 8,353 | 6,405 |
Net interest income after provision for credit losses | 69,560 | 59,812 | 57,963 | 57,518 | 58,035 | 58,811 | 58,112 | 53,666 | 244,852 | 228,634 | 186,823 |
Non-interest income | 81,499 | 74,466 | 68,504 | ||||||||
Non-interest expense | 58,298 | 57,601 | 47,360 | 45,343 | 46,894 | 46,981 | 46,589 | 53,441 | 208,680 | 193,923 | 161,633 |
Income before provision for income taxes | 32,682 | 23,228 | 30,194 | 31,568 | 31,167 | 30,016 | 29,595 | 18,415 | 117,671 | 109,177 | 93,694 |
Provision for income taxes | 8,464 | 5,793 | 8,085 | 8,694 | 8,165 | 7,768 | 7,962 | 4,528 | 31,036 | 28,415 | 23,720 |
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | 86,635 | 80,762 | 69,974 |
Community Banking [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Interest and dividend income | 286,097 | 261,712 | 215,991 | ||||||||
Interest expense | 32,767 | 24,725 | 22,763 | ||||||||
Net interest income | 253,330 | 236,987 | 193,228 | ||||||||
Provision for credit losses | 8,478 | 8,353 | 6,405 | ||||||||
Net interest income after provision for credit losses | 244,852 | 228,634 | 186,823 | ||||||||
Non-interest income | 59,869 | 52,566 | 47,435 | ||||||||
Non-interest expense | 196,784 | 181,821 | 149,429 | ||||||||
Income before provision for income taxes | 107,937 | 99,379 | 84,829 | ||||||||
Provision for income taxes | 27,142 | 24,496 | 20,174 | ||||||||
Net income | 80,795 | 74,883 | 64,655 | ||||||||
Trust and Investment Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Non-interest income | 21,630 | 21,900 | 21,069 | ||||||||
Non-interest expense | 11,896 | 12,102 | 12,204 | ||||||||
Income before provision for income taxes | 9,734 | 9,798 | 8,865 | ||||||||
Provision for income taxes | 3,894 | 3,919 | 3,546 | ||||||||
Net income | $ 5,840 | $ 5,879 | $ 5,319 |
Condensed Quarterly Statemen143
Condensed Quarterly Statements of Income (Unaudited) - Consolidated Selected Quarterly Statements of Income (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||||||||||
Interest and dividend income | $ 80,819 | $ 70,092 | $ 67,585 | $ 67,601 | $ 67,660 | $ 66,935 | $ 66,729 | $ 60,379 | $ 286,097 | $ 261,712 | $ 215,991 |
Interest expense | 9,131 | 8,066 | 7,811 | 7,759 | 7,040 | 6,326 | 5,936 | 5,424 | 32,767 | 24,725 | 22,763 |
Net interest income | 71,688 | 62,026 | 59,774 | 59,842 | 60,620 | 60,609 | 60,793 | 54,955 | 253,330 | 236,987 | 193,228 |
Provision for credit losses | 2,128 | 2,214 | 1,811 | 2,324 | 2,585 | 1,798 | 2,681 | 1,289 | 8,478 | 8,353 | 6,405 |
Net interest income after provision for credit losses | 69,560 | 59,812 | 57,963 | 57,518 | 58,035 | 58,811 | 58,112 | 53,666 | 244,852 | 228,634 | 186,823 |
Non-interest income | 21,357 | 20,419 | 19,006 | 18,282 | 19,146 | 18,139 | 18,072 | 18,168 | 79,142 | 73,518 | |
Net securities gains | 63 | 598 | 585 | 1,111 | 880 | 47 | 22 | 2,357 | 948 | 903 | |
Non-interest expense | 58,298 | 57,601 | 47,360 | 45,343 | 46,894 | 46,981 | 46,589 | 53,441 | 208,680 | 193,923 | 161,633 |
Income before provision for income taxes | 32,682 | 23,228 | 30,194 | 31,568 | 31,167 | 30,016 | 29,595 | 18,415 | 117,671 | 109,177 | 93,694 |
Provision for income taxes | 8,464 | 5,793 | 8,085 | 8,694 | 8,165 | 7,768 | 7,962 | 4,528 | 31,036 | 28,415 | 23,720 |
Net income | $ 24,218 | $ 17,435 | $ 22,109 | $ 22,874 | $ 23,002 | $ 22,248 | $ 21,633 | $ 13,887 | $ 86,635 | $ 80,762 | $ 69,974 |
Earnings per common share - basic | $ 0.55 | $ 0.44 | $ 0.58 | $ 0.60 | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 2.16 | $ 2.15 | $ 2.39 |
Earnings per common share - diluted | $ 0.55 | $ 0.44 | $ 0.58 | $ 0.60 | $ 0.60 | $ 0.58 | $ 0.56 | $ 0.40 | $ 2.16 | $ 2.15 | $ 2.39 |